<SEC-DOCUMENT>0001193125-14-426218.txt : 20141126
<SEC-HEADER>0001193125-14-426218.hdr.sgml : 20141126
<ACCEPTANCE-DATETIME>20141126092335
ACCESSION NUMBER:		0001193125-14-426218
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141125
FILED AS OF DATE:		20141126
DATE AS OF CHANGE:		20141126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIRKS GROUP INC.
		CENTRAL INDEX KEY:			0001179821
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-JEWELRY STORES [5944]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32635
		FILM NUMBER:		141251697

	BUSINESS ADDRESS:	
		STREET 1:		5870 NORTH HIATUS ROAD
		CITY:			TAMARAC
		STATE:			FL
		ZIP:			33321
		BUSINESS PHONE:		954-590-9499

	MAIL ADDRESS:	
		STREET 1:		5870 NORTH HIATUS ROAD
		CITY:			TAMARAC
		STATE:			FL
		ZIP:			33321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Birks Group Inc.
		DATE OF NAME CHANGE:	20131003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIRKS & MAYORS INC.
		DATE OF NAME CHANGE:	20051115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HENRY BIRKS & SONS INC
		DATE OF NAME CHANGE:	20020809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d826942d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 6-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE 13a-16 or 15d-16 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of November, 2014 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission file number: 001-32635 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>BIRKS GROUP
INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of Registrant&#146;s name into English) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1240 Phillips Square </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Montreal Qu&eacute;bec </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Canada </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>H3B 3H4 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;Form&nbsp;20-F&nbsp;</FONT><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;Form 40-F </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):<U></U>&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Note</B>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):<U></U>&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Note</B>: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is
incorporated, domiciled or legally organized (the registrant&#146;s &#147;home country&#148;), or under the rules of the home country exchange on which the registrant&#146;s securities are traded, as long as the report or other document is not a
press release, is not required to be and has not been distributed to the registrant&#146;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>EXPLANATORY NOTE: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>A<SMALL>MENDMENTS</SMALL> <SMALL>TO</SMALL> <SMALL>SENIOR</SMALL> <SMALL>SECURED</SMALL> <SMALL>CREDIT</SMALL> <SMALL>FACILITIES</SMALL></B><SMALL></SMALL> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November&nbsp;21, 2014, Birks Group Inc. (the &#147;Company&#148;) executed an amendment to its senior secured revolving credit agreement and its senior
secured term loan agreement. The amendments to the Company&#146;s senior secured credit facilities, in addition to reducing the interest expense, are part of a financial recapitalization project which the Company is developing in order to provide
greater financial resources for the Company&#146;s operations and capital investment needs on both a short and long-term basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amendments to the senior
secured revolving credit agreement and senior secured term loan agreement include, without limitation: (i)&nbsp;the term loan lenders assigned their interest to Crystal Financial SPV LLC; (ii)&nbsp;the loan amount under the senior secured term loan
agreement increased from $28 million to $33 million; (iii)&nbsp;the revolving credit line under the senior secured revolving credit agreement decreased from $115 million to $110 million; (iv)&nbsp;the rate of interest under the senior secured term
loan agreement decreased from 12.5%&nbsp;per annum to Libor plus 9.75%&nbsp;per annum for the $28 million tranche (currently the equivalent of 9.96%&nbsp;per annum) and Libor plus 7.25%&nbsp;per annum for the $5 million tranche (currently the
equivalent of 7.46%&nbsp;per annum); (v)&nbsp;reduction in the monitoring fee under the senior secured term loan agreement to $30,000 per year; (vi)&nbsp;removal of the $10 million minimum excess availability requirement under the senior secured
revolving credit agreement; (vii)&nbsp;removal of the discretionary reserve of up to 5% of the borrowing base which could be imposed at the discretion of the senior secured term loan lender; (viii)&nbsp;removal of the supplementary reserve of up to
$2.5 million which could be imposed at the discretion of the senior secured term loan lender; and (ix)&nbsp;the addition of certain financial covenants to be tested under certain conditions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary of the senior secured revolving credit agreement and senior secured term loan agreement are qualified in their entirety by reference to
the actual Fifth Amendment to Second Amended and Restated Revolving Credit and Security Agreement dated November&nbsp;21, 2014 and the Third Amended and Restated Term Loan and Security Agreement dated November&nbsp;21, 2014, which are filed as
Exhibits 99.1 and 99.2, respectively, to this Form 6-K. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>A<SMALL>MENDMENT</SMALL> <SMALL>TO</SMALL> D<SMALL>AMIANI</SMALL> A<SMALL>GREEMENT</SMALL></B><SMALL></SMALL> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company entered into a Renewed and Amended Distribution Agreement (the &#147;Agreement&#148;) as of October&nbsp;3, 2014 with Damiani International B.V.
and Damiani S.p.A. with respect to the distribution of Damiani products which, among others, extends the term of the agreement for an additional 17 months until March&nbsp;31, 2016. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONTENTS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following documents of the Registrant are
submitted herewith: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Fifth Amendment to Second Amended and Restated Revolving Credit and Security Agreement dated November 21, 2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Third Amended and Restated Term Loan and Security Agreement dated November 21, 2014</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><U>BIRKS GROUP INC.</U></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">(Registrant)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jefferey Morris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Jefferey Morris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: November 25, 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"><I>Vice President and Interim Chief Financial Officer</I></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT INDEX </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="88%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fifth Amendment to Second Amended and Restated Revolving Credit and Security Agreement dated November&nbsp;21, 2014.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Third Amended and Restated Term Loan and Security Agreement dated November 21, 2014.</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d826942dex991.htm
<DESCRIPTION>5TH AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>5th Amendment to Revolving Credit and Security Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>[EXECUTION COPY] </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FIFTH AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS FIFTH AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT</B>, dated as of November&nbsp;21, 2014 (this
&#147;<U>Amendment</U>&#148;), by and among (i)&nbsp;<B>MAYOR&#146;S JEWELERS, INC</B>., a Delaware corporation (the &#147;<U>US Borrower</U>&#148;) and <B>BIRKS GROUP INC. &#150; GROUPE BIRKS INC. </B>(formerly known as<B> BIRKS&nbsp;&amp; MAYORS
INC.)</B>, a Canadian corporation (the &#147;<U>Canadian Borrower</U>&#148; and, together with the US Borrower, the &#147;<U>Borrowers</U>&#148;), (ii)&nbsp;the guarantors party to the Credit Agreement referred to below (the
&#147;<U>Guarantors</U>&#148; and, together with the Borrowers, the &#147;<U>Loan Parties</U>&#148;), (iii)&nbsp;the lenders party to the Credit Agreement referred to below (collectively, the &#147;<U>Lenders</U>&#148;), (iv)&nbsp;<B>BANK OF
AMERICA, N.A.</B>, in its capacity as administrative agent (the &#147;<U>Administrative Agent</U>&#148;), (v)&nbsp;<B>BANK OF AMERICA, N.A. (acting through its Canada branch)</B>, as Canadian agent (the &#147;<U>Canadian Agent</U>&#148; and,
together with the Administrative Agent, the &#147;<U>Agents</U>&#148;), and (vi)&nbsp;<B>BANK OF AMERICA, N.A.</B> and <B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>, as co-collateral agents (the &#147;<U>Co-Collateral Agents</U>&#148;). Capitalized
terms used but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement referred to below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrowers, the Guarantors, the Lenders, the Agents, and the Co-Collateral Agents are party to that certain Second Amended
and Restated Revolving Credit and Security Agreement, dated as of June&nbsp;8, 2011, as amended by that certain First Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of August&nbsp;22, 2013, by that certain
Second Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of May&nbsp;12, 2014, that certain Third Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of June&nbsp;10,
2014, that certain Consent and Fourth Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of July&nbsp;25, 2014 (the &#147;<U>Existing Credit Agreement</U>&#148;). The Existing Credit Agreement, as amended by
this Amendment, and as may be further amended, amended and restated, restated, supplemented, extended or otherwise modified and in effect from time to time is referred to herein as the &#147;<U>Credit Agreement</U>&#148;; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrowers, the Guarantors party thereto, the Term Loan Lenders, Pathlight Capital, LLC, as Term Loan Agent (the
&#147;<U>Existing Term Loan Agent</U>&#148;) and the Co-Collateral Agents (as defined therein) are party to that certain Second Amended and Restated Term Loan and Security Agreement dated as of August&nbsp;22, 2013 (as amended, amended and restated,
supplemented or otherwise modified and in effect on the date hereof, the &#147;<U>Existing Term Loan Agreement</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Existing Term Loan Agent has resigned as Term Loan Agent and Crystal Financial LLC (&#147;<U>Crystal</U>&#148;) has been
appointed as Term Loan Agent in its stead and Pathlight Capital, LLC, Wells Fargo Credit, Inc. and Wells Fargo Foothill Canada ULC, have each assigned all of their rights as a Term Loan Lender under the Existing Term Loan Agreement and the related
Term Loan Documents to Crystal and or one of its affiliates; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrowers have requested, among other things, that the Lenders and the Agents
amend certain provisions of the Credit Agreement, in each case, subject to the terms and conditions set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>,
the Borrowers, the Lenders, and the Agents have agreed, on the terms and conditions set forth herein, to amend certain provisions of the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, 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: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;1. <U>Amendments to the Credit Agreement</U>.</B> As of the
Fifth Amendment Effective Date (as defined herein), the Existing Credit Agreement (including all schedules and exhibits thereto) is hereby amended as set forth in <U>Exhibit A</U> attached hereto such that all of the newly inserted underscored
provisions and any formatting changes attached hereto shall be deemed to be inserted and all stricken text shall be deemed to be deleted therefrom. In addition, as of the Fifth Amendment Effective Date, (i)&nbsp;Exhibit D (Form of Borrowing Base
Certificate) to the Credit Agreement shall be replaced by the Form of Borrowing Base Certificate attached hereto as <U>Annex I</U> and (ii)&nbsp;Schedules 7.2.1 (Deposit Accounts), 7.2.3 (Credit Card Arrangements), 8.5.1 (Business Locations), 9.1.4
(Capital Structure), 9.1.5 (Former Names and Companies), 9.1.12 (Patents, Trademarks, Copyrights&nbsp;&amp; Licenses), 9.1.19 (Material Contracts), 10.2.1 (Existing Debt), Schedule 10.2.2 (Existing Liens) shall be replaced by the corresponding
schedule attached hereto as <U>Annex II</U> and the schedules set forth in Section&nbsp;2(b) of this Amendment shall be updated as set forth therein. The pro foma Borrowing Base Certificate after giving effect to this Amendment and the amendment and
restatement of the Existing Term Loan Agreement is attached hereto as <U>Exhibit D</U>. <B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;2. <U>Consent; Reduction of
Commitments; Waiver of Early Termination Fees</U>. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding <U>Section&nbsp;10.2.11</U> of the Credit Agreement, the
undersigned hereby confirm their consent to the amendment and restatement of the Damiani Distribution Agreement in the form attached hereto as <U>Exhibit B</U>, <U>provided</U> that such amended and restated agreement shall constitute the
&#147;Damiani Distribution Agreement&#148; and a &#147;Damiani Debt Document&#148; for all purposes under the Credit Agreement and the other Loan Documents, including, without limitation, the subordination requirements applicable thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Loan Party and, notwithstanding the requirements of <U>Sections 2.2.1(b)</U> and <U>2.2.3(b)</U> of the Credit Agreement, each of the
undersigned Lenders and the Agents hereby agree that, as of the Fifth Amendment Effective Date, (a)&nbsp;the aggregate Total Revolver Commitments shall be reduced by an amount equal to $5,000,000, (b)&nbsp;the aggregate Canadian Revolver Commitments
shall be reduced by an amount equal to Cdn. $5,000,000, and (c)&nbsp;the aggregate U.S. Revolver Commitments shall be reduced by an amount equal to $5,000,000, such that the remaining amount of Total Revolver Commitments equals $110,000,000, the
remaining amount of Canadian Revolver Commitments equals Cdn. $110,000,000 and the remaining amount of U.S. Revolver Commitments equals $110,000,000. As of the Fifth Amendment Effective Date, <U>Schedule 1.1(a)</U> (Commitments of Lenders) and
<U>Schedule 1.1(d)</U> (Total Affiliate Commitment) to the Credit Agreement shall be replaced by <U>Schedule 1.1(a)</U> (Commitments of Lenders) and <U>Schedule 1.1(d)</U> (Total Affiliate Commitment) attached hereto as <U>Exhibit C</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each of the Lenders hereby waives any early termination fees due and payable under
<U>Section&nbsp;2.2.1(e)</U> of the Credit Agreement as a result of the partial termination of the US Revolver Commitments from $115,000,000 to $110,000,000 on the Fifth Amendment Effective Date. For the avoidance of doubt, this waiver shall not
apply or extend to any early termination fees due and payable under <U>Section&nbsp;2.2.1(e)</U> of the Credit Agreement as a result of the partial or full termination of the US Revolver Commitments made at anytime (other than on the Fifth Amendment
Effective Date pursuant to this Amendment), which shall be due and payable in accordance with the provisions of <U>Section&nbsp;2.2.1(e)</U> of the Credit Agreement and any such fees due under the Credit Agreement shall not be deemed waived by
virtue of the provisions of this <U>Section&nbsp;2(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;3. <U>Representations and Warranties</U>.</B> Each of the Loan
Parties hereby represents and warrants to the Agents and the Lenders as of the date hereof as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The execution and delivery by
each of the Loan Parties of this Amendment and all other instruments and agreements required to be executed and delivered by such Loan Party in connection with the transactions contemplated hereby or referred to herein (collectively, the
&#147;<U>Amendment Documents</U>&#148;), and the performance by each of the Loan Parties of any of its obligations and agreements under the Amendment Documents and the Credit Agreement and the other Loan Documents, as amended hereby, are within the
corporate or other authority of such Loan Party, have been authorized by all necessary corporate proceedings on behalf of such Loan Party and do not and will not contravene any provision of law or such Loan Party&#146;s charter, other incorporation
or organizational papers, by-laws or any stock provision or any amendment thereof or of any indenture, agreement, instrument or undertaking binding upon such Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each of this Amendment, the other Amendment Documents, the Credit Agreement and the other Loan Documents, as amended hereby, to which any
Loan Party is a party constitute legal, valid and binding obligations of such Loan Party, enforceable in accordance with their terms, except as limited by the Bankruptcy Code, any Canadian Debtor Relief Law, any other insolvency, debtor relief or
debt adjustment law or similar laws relating to or affecting generally the enforcement of creditors&#146; rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of
the court before which any proceeding therefor may be brought. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) No approval or consent of, or filing with, any governmental agency or
authority is required to make valid and legally binding the execution, delivery or performance by the Loan Parties of this Amendment, the other Amendment Documents, the Credit Agreement or any other Loan Documents, as amended hereby, or the
consummation by the Loan Parties of the transactions among the parties contemplated hereby and thereby or referred to herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The
representations and warranties contained in Section&nbsp;9 of the Credit Agreement and in the other Loan Documents were true and correct as of the date made. Except to the extent of changes resulting from transactions contemplated or permitted by
the Credit Agreement and the other Loan Documents and except to the extent that any representations and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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warranties relate expressly to an earlier date, after giving effect to the provisions hereof, such representations and warranties, both before and after giving effect to this Amendment, also are
true and correct, in all material respects, as of the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Each of the Loan Parties has performed and complied in all
respects with all terms and conditions herein required to be performed or complied with by it prior to or at the time hereof, and as of the date hereof, both before and after giving effect to the provisions of this Amendment and the other Amendment
Documents, there exists no Default or Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Each of the Loan Parties hereby acknowledges and agrees that the
representations and warranties contained in this Amendment shall constitute representations and warranties as referred to in Section&nbsp;11.1(b) of the Credit Agreement, a breach of which shall constitute an Event of Default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;4. <U>Effectiveness</U>.</B> This Amendment shall become effective upon the satisfaction of each of the following conditions, in each
case in a manner satisfactory in form, scope and substance to the Administrative Agent and the Lenders: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) This Amendment shall have
been duly executed and delivered by each of the Borrowers, each of the Guarantors, the Administrative Agent, the Canadian Agent and each of the Lenders and shall be in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Administrative Agent shall have received a duly executed Third Amended and Restated Term Loan and Security Agreement dated as of the
date hereof by and among the Loan Parties, the Term Loan Lenders, Crystal Financial, LLC as Term Loan Agent and Collateral Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The
Administrative Agent shall have received a duly executed Second Amended and Restated Intercreditor Agreement dated as of the date hereof, by and among the Agents, the Term Loan Agent, the Collateral Agent (as such term is defined in the Term Loan
Agreement) and acknowledged by each Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Borrowers shall have paid (i)&nbsp;the Fifth Amendment Fee and (ii)&nbsp;all
reasonable costs and expenses incurred by the Agents, including the fees and expenses of the Agents&#146; US and Canadian counsels, to the extent that copies of invoices for such fees and expenses have been delivered to the Borrowers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Borrowers shall have executed Notes reflecting the reduction in the Total Revolving Commitments and shall have delivered such Notes to
the Administrative Agent or each Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Agents shall have received such other items, documents, agreements, items or actions as
the Agents may reasonably request in order to effectuate the transactions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) No Default or Event of Default shall
have occurred and be continuing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;5. <U>Release</U></B>. In order to induce the Administrative Agent, the Canadian Agent
and the Lenders to enter into this Amendment, each Loan Party acknowledges and agrees that: (a)&nbsp;no Loan Party has any claim or cause of action against the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, any Issuing Bank or
any Lender (or, with respect to the Credit Agreement and the other Loan Documents and the administration of the credit facilities thereunder, any of their respective directors, officers, employees, agents or representatives); (b)&nbsp;no Loan Party
has any offset or compensation right, counterclaim, right of recoupment or any defense of any kind against any Loan Party&#146;s obligations, indebtedness or liabilities to the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, any
Issuing Bank or any Lender; and (c)&nbsp;each of the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, the Issuing Banks and the Lenders has heretofore properly performed and satisfied in a timely manner all of its obligations to
the Borrowers and, as applicable, the Guarantors. Each Loan Party wishes to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the Administrative
Agent&#146;s, the Canadian Agent&#146;s, the Co-Collateral Agents&#146;, the Issuing Banks&#146; and the Lenders&#146; rights, interests, contracts, collateral security or remedies. Therefore, each Loan Party unconditionally releases, waives and
forever discharges (i)&nbsp;any and all liabilities, obligations, duties, promises or indebtedness of any kind of the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, the Issuing Banks or any Lender to any Loan Party, except the
obligations to be performed by the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, the Issuing Banks or any Lender on or after the date hereof as expressly stated in this Amendment, the Credit Agreement and the other Loan
Documents and (ii)&nbsp;all claims, counterclaims, offsets, compensation rights, causes of action, right of recoupment, suits or defenses of any kind whatsoever (if any), whether arising at law or in equity, whether known or unknown, which any Loan
Party might otherwise have against the Administrative Agent, the Canadian Agent, any Co-Collateral Agent, any Issuing Bank or any Lender (or, with respect to the Credit Agreement and the other Loan Documents and the administration of the credit
facilities thereunder, any of their respective directors, officers, employees or agents), in either case of <U>clause (i)</U>&nbsp;or <U>(ii)</U>, on account of any past or presently existing (as of the date hereof) condition, act, omission, event,
contract, liability, obligation, indebtedness, claim, cause of action, defense, counterclaims, compensation rights, circumstance or matter of any kind. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;6. <U>Fifth Amendment Fee</U></B><B></B>.<B></B> In consideration of the Lenders&#146; agreement to amend certain provisions of the
Credit Agreement, the Borrowers agree to pay to the Administrative Agent, for the ratable benefit of each Lender, a fee in the amount equal to 10.0 basis points times the aggregate Total Revolver Commitments (after giving effect to the reduction of
the Total Revolver Commitments to $110,000,000 contemplated by <U>Section&nbsp;2(b)</U> of this Amendment) (the &#147;<U>Fifth Amendment Fee</U>&#148;), which Fifth Amendment Fee shall be fully earned and due and payable in full in cash on the date
of this Amendment. Once paid, the Fifth Amendment Fee shall not be refundable for any reason whatsoever. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>&#167;7. <U>Miscellaneous
Provisions</U></B>.<B></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each of the Loan Parties hereby ratifies and confirms all of its Obligations to the Administrative Agent,
the Canadian Agent, the Co-Collateral Agents, the Issuing Banks and the Lenders under the Credit Agreement, as amended hereby, and the other Loan Documents, including, without limitation, the Loans, and each of the Loan Parties hereby affirms its
absolute </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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and unconditional promise to pay to the Lenders, the Administrative Agent and the Canadian Agent, as applicable, the Loans, reimbursement obligations and all other amounts due or to become due
and payable to the Lenders, the Administrative Agent and the Canadian Agent, as applicable, under the Credit Agreement and the other Loan Documents, as amended hereby and it is the intent of the parties hereto that nothing contained herein shall
constitute a novation or accord and satisfaction. Each of the Loan Parties hereby acknowledges and confirms that the liens, hypothecs, pledges and security interests granted pursuant to the Loan Documents are and continue to be valid, perfected and
enforceable first priority liens, hypothecs, pledges and security interests (subject only to Permitted Liens) that secure all of the Obligations on and after the date hereof. Except as expressly amended hereby, each of the Credit Agreement and the
other Loan Documents shall continue in full force and effect. This Amendment and the Credit Agreement shall hereafter be read and construed together as a single document, and all references in the Credit Agreement, any other Loan Document or any
agreement or instrument related to the Credit Agreement shall hereafter refer to the Credit Agreement as amended by this Amendment. This Amendment shall constitute a Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Without limiting the expense reimbursement requirements set forth in Section&nbsp;3.4 of the Credit Agreement, the Borrowers agree to pay
on demand all reasonable costs and expenses, including reasonable attorneys&#146; fees, of the Administrative Agent and the Canadian Agent, as applicable, incurred in connection with this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, NEW
YORK GENERAL OBLIGATIONS LAW SECTIONS 5-1401 AND 5-1402 (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) EACH LOAN
PARTY PARTY HERETO HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL COURT SITTING IN OR WITH JURISDICTION OVER THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY STATE COURT OF THE STATE OF NEW YORK SITTING IN THE COUNTY OF MANHATTAN, IN
ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH LOAN PARTY PARTY HERETO IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY
HAVE REGARDING SUCH COURT&#146;S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. Nothing herein shall limit the right of any Agent or any Lender to bring proceedings against any Loan Party in any other court. Nothing in this
Amendment shall be deemed to preclude enforcement by any Agent of any judgment or order obtained in any forum or jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) This
Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute but one instrument. In making proof of this Amendment it shall not be necessary to produce or account for more than one counterpart signed
by each party hereto by and against which enforcement hereof is sought. Delivery of a signature page hereto by electronic transmission shall constitute the delivery of an original signature page hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signature Pages follow] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF,</B> the undersigned have duly executed this Amendment as of the date first
set forth above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>US BORROWER AND BORROWER AGENT</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>MAYOR&#146;S JEWELERS, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN BORROWER</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BIRKS GROUP INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GROUPE BIRKS INC.</B> (<I>formerly known as</I> Birks&nbsp;&amp; Mayors Inc.)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Miranda Melfi</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Miranda Melfi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Legal Affairs and Corporate Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


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 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>GUARANTORS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>MAYOR&#146;S JEWELERS OF FLORIDA, INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>JBM RETAIL COMPANY, INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>JBM VENTURE CO., INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>MAYOR&#146;S JEWELERS INTELLECTUAL PROPERTY HOLDING COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CASH, GOLD&nbsp;&amp; SILVER INC. &#150; OR ET ARGENT, COMPTANT INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CASH, GOLD&nbsp;&amp; SILVER USA, INC.</B> (<I>formerly known as</I> Henry Birks&nbsp;&amp; Sons U.S., Inc.)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>ADMINISTRATIVE AGENT</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BANK OF AMERICA, N.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Roger Malouf</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Roger Malouf</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Director</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BANK OF AMERICA, N.A. (acting through its Canada branch)</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Sylwia Durkiewicz</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Sylwia Durkiewicz</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BANK OF AMERICA, N.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Roger Malouf</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Roger Malouf</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Director</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ian Maccubbin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Ian Maccubbin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Assistant Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BANK OF MONTREAL CHICAGO BRANCH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joseph W. Linder</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Joseph W. Linder</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"><B>BANK OF AMERICA, N.A. (acting through its Canada branch)</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Sylwia Durkiewicz</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">Sylwia Durkiewicz</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>WELLS FARGO FOOTHILL CANADA ULC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David C. Phillips</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">David C. Phillips</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BANK OF MONTREAL</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Hugh Devlin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Hugh Devlin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Senior Manager</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rachel Pollock</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Rachel Pollock</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Senior Manager</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE TO FIFTH
AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit A</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Amendments to Existing Credit Agreement </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Please see attached. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit C </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">[EXECUTION COPY]</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[CONFORMED COPY THROUGH AND INCLUDING THE CONSENT AND FOURTH AMENDMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MAYOR&#146;S JEWELERS, INC., </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the US Borrower </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BIRKS
[<STRIKE>&amp; MAYORS</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt">GROUP INC. &#150; GROUPE BIRKS</U> INC.</B>,<B> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the Canadian Borrower </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Collectively, the Borrowers </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND THEIR SUBSIDIARIES PARTY HERETO, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Guarantors </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDED AND RESTATED
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REVOLVING CREDIT AND SECURITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of June&nbsp;8, 2011 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTAIN FINANCIAL INSTITUTIONS,
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Lenders, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BANK OF
AMERICA, N.A</B>., </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Administrative Agent, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BANK OF AMERICA, N.A</B>. <B>(acting through its Canada branch)</B>, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Canadian Agent </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BANK OF AMERICA, N.A. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Co-Collateral Agents </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">with </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MERRILL LYNCH, PIERCE, FENNER&nbsp;&amp; SMITH INCORPORATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WELLS FARGO CAPITAL
FINANCE, LLC</B>, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Co-Lead Arrangers and Co-Book Managers </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>TABLE OF CONTENTS </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS; RULES OF CONSTRUCTION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounting Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Matters of Construction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Letter of Credit Amounts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Times of Day</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conversions of Foreign Currencies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;CREDIT FACILITIES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Commitments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reduction or Termination of Commitments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Letter of Credit Facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash Collateral</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Increase in Commitments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;INTEREST, FEES AND CHARGES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Computation of Interest, Fees, Yield Protection</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reimbursement Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Illegality</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Increased Costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital Adequacy</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mitigation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Funding Losses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maximum Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of the Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dodd-Frank Act</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;LOAN ADMINISTRATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Manner of Borrowing and Funding Loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulting Lender</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Number and Amount of LIBOR Loans and Canadian BA Rate Loans; Determination of Rate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">The Borrower Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;PAYMENTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Payment Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment of Loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Other Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Marshaling; Payments Set Aside</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Allocation of Payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Account; Account Stated</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withholding Tax Exemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Matters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to Effectiveness of this Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to All Credit Extensions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limited Waiver of Conditions Precedent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;COLLATERAL SECURITY AND GUARANTEES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Grant of Security Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit Accounts; Cash Collateral; Credit Card Agreements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lien on Real Estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Collateral</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Assumption of Liability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Further Assurances</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees by the Borrowers; Intercompany Debt Subordination Arrangements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guaranty of the Subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercompany Debt Subordination Arrangements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;COLLATERAL ADMINISTRATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowing Base Certificates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Account Verification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administration of Inventory</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Power of Attorney</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;COVENANTS AND CONTINUING AGREEMENTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affirmative Covenants</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Negative Covenants</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT; REMEDIES ON DEFAULT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies upon Default</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">License</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Setoff</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies Cumulative; No Waiver</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Judgment Currency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;THE ADMINISTRATIVE AGENT, THE CANADIAN AGENT AND THE CO-COLLATERAL AGENTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appointment, Authority and Duties of the Administrative Agent, the Canadian Agent and the Co-Collateral Agents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reliance by the Agents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Action Upon Default</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratable Sharing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification of the Agent Indemnitees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Responsibilities of the Administrative Agent and the Canadian Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Agents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Due Diligence and Non-Reliance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Certain Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remittance of Payments and Collections</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">The Agents in their Individual Capacity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Agent Titles</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Third Party Beneficiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Documents; Intercreditor Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">137</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns Generally</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">137</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignments by Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">137</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proportionate Assignments; Proportionate Holdings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Register</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Participations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitations upon Participant Rights</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Pledges</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Electronic Execution of Assignments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Treatment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representation of the Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignment by the Loan Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consents, Amendments and Waivers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices and Communications</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Performance of the Borrowers&#146; Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Credit Inquiries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative Effect; Conflict of Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Counterparts; Facsimile and Electronic Signatures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Entire Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Obligations of the Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Confidentiality</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Forum</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waivers by the Loan Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patriot Act Notice</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.16.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Survival of Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.17.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Advisory or Fiduciary Responsibility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.18.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Resignation as Issuing Bank or Provider of Swingline Loans after Assignment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.19.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Language</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.20.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Existing Credit Agreement and Loan Documents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.21.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transitional Arrangements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.22.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination of Tranche A-1 Commitments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.23.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Early Termination Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>LIST OF EXHIBITS AND SCHEDULES </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="7%"></TD>
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<TD WIDTH="89%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of US Revolver Note</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Canadian Revolver Note</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;C</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Assignment and Assumption Agreement</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;D</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Compliance Certificate</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;E</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Borrowing Base Certificate</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;F</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Information Certificate</P></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="82%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;1.1(a)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Commitments of the Lenders</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;1.1(b)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Excluded Subsidiaries</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;1.1(c)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Store Closures</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;1.1(d)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Affiliate Commitment</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;2.3.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Existing Letters of Credit</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 7.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Commercial Tort Claims</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;7.2.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit Accounts</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;7.2.3</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Credit Card Arrangements</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;8.3.3</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consignments</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;8.5.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Business Locations</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.4</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Names; Capital Structure; Warrants, Etc.</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.5</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Former Names and Companies</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.6(a)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Real Estate</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.6(b)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investments</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.8</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Financial Statements</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.12</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patents, Trademarks, Copyrights and Licenses</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.15</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Environmental Matters</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.16</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Burdensome Agreements</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.17</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Litigation</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.19</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Material Contracts</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.20</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Canadian Plans</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.22</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Labor Contracts</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;9.1.25</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Transactions</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;10.2.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Existing Debt</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;10.2.2</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Existing Liens</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;10.2.7</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restrictions on Subsidiary Distributions (Contractual Obligations)</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;10.2.9(i)</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trademarks Licensed to Excluded Subsidiaries</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule&nbsp;14.3.1</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice Address</P></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SECOND AMENDED AND RESTATED </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>REVOLVING CREDIT AND SECURITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT</B> (THIS &#147;<U>AGREEMENT</U>&#148;) IS ENTERED INTO AS OF JUNE
8, 2011, AMONG <B>MAYOR&#146;S JEWELERS, INC., </B>A DELAWARE CORPORATION (THE &#147;<U>US BORROWER</U>&#148;), <B>BIRKS <U STYLE="border-bottom:1pt double; padding-bottom:1pt">GROUP INC. &#150; GROUPE BIRKS INC. (formerly known as
BIRKS&nbsp;</U></B>&amp; MAYORS INC.<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>)</B></U>, A CANADIAN CORPORATION (THE &#147;<U>CANADIAN BORROWER</U>&#148; AND, TOGETHER WITH THE US BORROWER, COLLECTIVELY, THE
&#147;<U>BORROWERS</U>&#148; AND EACH INDIVIDUALLY, A &#147;<U>BORROWER</U>&#148;), EACH SUBSIDIARY OF THE BORROWERS FROM TIME TO TIME PARTY HERETO AS A GUARANTOR, EACH LENDER FROM TIME TO TIME PARTY HERETO (COLLECTIVELY, THE
&#147;<U>LENDERS</U>&#148; AND EACH INDIVIDUALLY, A &#147;<U>LENDER</U>&#148;), <B>BANK OF AMERICA, N.A. </B>(IN ITS INDIVIDUAL CAPACITY, &#147;<U>BANK OF AMERICA</U>&#148;), AS ADMINISTRATIVE AGENT AND ISSUING BANK, <B>BANK OF AMERICA, N.A.</B>
(<B>ACTING THROUGH ITS CANADA BRANCH</B>) (IN ITS INDIVIDUAL CAPACITY, &#147;<U>BANK OF AMERICA-CANADA BRANCH</U>&#148;), AS CANADIAN AGENT AND ISSUING BANK, AND <B>BANK OF AMERICA, N.A.</B> AND <B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>, AS
CO-COLLATERAL AGENTS (IN SUCH CAPACITY, THE &#147;<U>CO-COLLATERAL AGENTS</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>R E C I T A L S</U></B>:<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrowers, the Guarantors, the lenders party thereto (the &#147;<U>Existing Lenders</U>&#148;), the Administrative Agent,
the Canadian Agent and the Issuing Banks are party to that certain Amended and Restated Revolving Credit and Security Agreement, dated as of December&nbsp;17, 2008 (as amended and in effect immediately prior to the date hereof, the &#147;<U>Existing
Credit Agreement</U>&#148;), pursuant to which the Existing Lenders made loans to and issued letters of credit for the account of the Borrowers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Lenders are willing to amend and restate the Existing Credit Agreement, and the Lenders are willing to make loans and
other extensions of credit to the Borrowers, all on the terms and conditions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of
the premises and the mutual agreements herein contained, the parties hereto hereby agree that, from and after the Closing Date, the Existing Credit Agreement (including all <U>Annexes</U>, <U>Schedules</U> and <U>Exhibits</U> thereto) is amended and
restated in its entirety as follows: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 1. DEFINITIONS; RULES OF CONSTRUCTION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.1. <U>Definitions</U></B>. As used herein, the following terms have the meanings set forth below: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Account</U> - as defined in the UCC, including all rights to payment for goods sold or leased, or for services rendered.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Account Debtor</U> - as defined in the UCC and including a Person who is obligated under an Account, Chattel Paper or
General Intangible. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Actual Cash Receipts</U> - the actual amount of all cash proceeds received by the Loan Parties
during the relevant period as determined in a manner consistent with the Approved Budget. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Actual Disbursement
Amount</U> - the actual amount of all disbursements (other than for the line items for &#147;Interest and Fees&#148;, &#147;Related Party Expenses&#148;, &#147;Amendment Fees&#148;, &#147;Montrovest Fee on the $5MM LC&#148;, &#147;Capital Lease
Repayments&#148;, and &#147;IQ Principal Payments&#148;) made by the Loan Parties during the relevant period of determination. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Additional Availability</U> &#150; the receipt by the Borrowers after the
Fourth Amendment Effective Date of at least Cdn$3,000,000 of additional cash from new financings or Additional Subordinated Debt, or from cash equity contributions, in each case, acceptable to the Agents and Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Additional Subordinated Debt</U> - such secured Debt incurred by any Loan Party pursuant to <B>Section&nbsp;10.2.1(l)</B>
that is expressly subordinated to the Full Payment of the Obligations on terms and conditions and pursuant to a Subordination Agreement in form, scope and substance satisfactory to the Agents and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Additional Subordinated Debt Documents</U> - all documents, instruments and agreements executed in connection with any
Additional Subordinated Debt, any such documents, instruments and agreements being in form, scope and substance satisfactory to the Agents and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Adjusted LIBOR</U> - for any Interest Period, with respect to LIBOR Loans, the per annum rate of interest (rounded upward,
if necessary, to the nearest 1/8th of 1%) appearing on Reuters Screen LIBOR01 Page (or, as determined by the Administrative Agent, such other commercially available source providing quotations of the London interbank offered rate for deposits in
Dollars), as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; <U>provided</U>,
<U>however</U>, if the Reuters Screen LIBO Page is used and more than one rate is shown on such page, the applicable rate shall be the arithmetic mean thereof. If for any reason none of the foregoing rates is available, the Adjusted LIBOR shall be
the rate per annum determined by the Administrative Agent as the rate of interest at which Dollar deposits in the approximate amount of the applicable LIBOR Loan would be offered to major banks in the offshore Dollar market at or about 11:00 a.m.
(London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Administrative Agent</U> - Bank of America, N.A., in its capacity as administrative agent for the Lenders and as collateral
agent for the Secured Parties regarding all matters concerning Collateral of the US Loan Parties and any other Non-Canadian Loan Party and Collateral of the Canadian Loan Parties situated in the United States, or any successor Administrative Agent.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Affiliate</U> - with respect to any Person, another Person (a)&nbsp;who directly, or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with such first Person; (b)&nbsp;who beneficially owns 10% or more of the voting securities or any class of Capital Stock of such first Person; (c)&nbsp;at least 10% of whose
voting securities or any class of Capital Stock is beneficially owned, directly or indirectly, by such first Person; or (d)&nbsp;who is an officer, director, partner or managing member of such first Person. &#147;<U>Control</U>&#148; means the
possession, directly or indirectly, of the power to direct or cause direction of the management and policies of a Person, whether through ownership of Capital Stock, by contract or otherwise. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agent Indemnitees</U> - each Agent and its officers, directors, employees, Affiliates, branches, agents, advisors and
attorneys. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agent Professionals</U> - attorneys, accountants, appraisers, auditors,
business valuation experts, environmental engineers or consultants, turnaround consultants, and other professionals and experts retained by any Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agents</U> - collectively, the Administrative Agent and the Canadian Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Aggregate Revolver Borrowing Capacity</U> - as of any date of determination, an amount equal to the lesser of (a)&nbsp;the
sum of (i)&nbsp;the US Borrowing Capacity (without giving effect to clause (a)&nbsp;thereof) <U>plus</U> (ii)&nbsp;the Dollar Equivalent of the Canadian Borrowing Capacity (without giving effect to clause (a)&nbsp;thereof) and (b)&nbsp;the Total
Revolver Commitments. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Aggregate Revolver Excess Availability</U> - as of any date of determination, an amount equal to
the sum of (i)&nbsp;the US Revolver Excess Availability <U>plus</U> (ii)&nbsp;the Dollar Equivalent of the Canadian Revolver Excess Availability. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>AML Legislation - shall have the meaning set forth in Section
14.24.</B></U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Anti-Terrorism Laws</U> - any laws relating to terrorism or money laundering, including the Patriot
Act<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> <B>and the</B> <B><I>Proceeds of Crime (Money Laundering) and Terrorist Financing Act</I></B><B> (Canada)</B></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Agent</U> - with respect to (a)&nbsp;the US Loan Parties, all Loans and Letters of Credit issued for the account
or benefit of the US Borrower, all matters concerning Collateral of the US Loan Parties and any other Non-Canadian Loan Parties, and all matters concerning Collateral of the Canadian Loan Parties situated in the United States, the Administrative
Agent, and (b)&nbsp;the Canadian Loan Parties, all Loans and Letters of Credit issued for the account or benefit of the Canadian Borrower, all matters concerning Collateral of the Canadian Loan Parties, and all matters concerning Collateral of the
other Loan Parties situated in Canada, the Canadian Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Law</U> - all laws, rules, regulations and
governmental guidelines and orders applicable to the Person, conduct, transaction, agreement or matter in question, including all applicable statutory law, common law and equitable principles, and all provisions of constitutions, treaties, statutes,
rules, regulations, orders and decrees of Governmental Authorities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Lenders</U> - with respect to
(a)&nbsp;US Revolver Loans and Letters of Credit issued for the account or benefit of the US Borrower, the US Lenders, and (b)&nbsp;Canadian Revolver Loans and Letters of Credit issued for the account or benefit of the Canadian Borrower, the
Canadian Lenders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Margin</U> - (a)&nbsp;for periods from the Closing Date to the date immediately preceding
the First Amendment Effective Date, the Applicable Margin for each calendar quarter shall be the applicable percentage per annum set forth below determined by reference to the average daily level of Aggregate Revolver Excess Availability during the
previous calendar quarter: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:43.25pt; font-size:8pt; font-family:Times New Roman">Pricing Level</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Aggregate&nbsp;Revolver<br>Excess<br>Availability</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Base&nbsp;Rate<BR>Loans/<br>Canadian&nbsp;Prime<BR>Rate Loans</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">LIBOR&nbsp;Loans/<BR>Canadian BA<BR>Rate Loans</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Standby<BR>Letter&nbsp;of<BR>Credit&nbsp;Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Documentary<BR>Letter of<BR>Credit Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Greater&nbsp;than<BR>$60,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">II</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less&nbsp;than&nbsp;or&nbsp;equal&nbsp;to<BR>$60,000,000 but<BR>greater than<BR>$40,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">III</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less than or equal to<BR>$40,000,000 but<BR>greater than<BR>$20,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IV</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less than or equal to<BR>$20,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, the Applicable Margin in effect from the Closing
Date through June&nbsp;30, 2011 shall be the Applicable Margin set forth in Level IV above. Thereafter, the margins shall be subject to increase or decrease on a quarterly basis. Not more than ten (10)&nbsp;Business Days after the first day of each
calendar quarter, the Administrative Agent shall determine the Applicable Margin for such calendar quarter (which shall be effective as of the first calendar day of such calendar quarter) based on the average daily level of Aggregate Revolver Excess
Availability for the prior calendar quarter. Additionally, in any calendar quarter (commencing with the calendar quarter beginning on July&nbsp;1, 2011) that the Applicable Margin, as determined by reference to the average daily level of Aggregate
Revolver Excess Availability during the previous calendar quarter, would have been set at either Level II, Level III or Level IV above, and the Interest Coverage Ratio for the immediately preceding Fiscal Quarter shall have been greater than 1:1,
then, so long as no Default or Event of Default exists, the Applicable Margin shall be upgraded by one Level for such calendar quarter (which shall be effective as of the first calendar day of such calendar quarter) such that the Applicable Margin
set forth in Level I, Level II or Level III, as the case may be, shall apply. If, as a result of any restatement of or other adjustment to the Aggregate Revolver Excess Availability or Interest Coverage Ratio calculations or for any other reason,
the Borrowers or the Administrative Agent determines that (i)&nbsp;the Aggregate Revolver Excess Availability or Interest Coverage Ratio as calculated by the Borrowers as of any applicable date was inaccurate and (ii)&nbsp;a proper calculation of
the Aggregate Revolver Excess Availability or Interest Coverage Ratio would have resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the
Applicable Lenders or the Issuing Banks, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrowers under any Insolvency Proceeding,
automatically and without further action by the Administrative Agent, any Lender or the Issuing Banks), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees
actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the Issuing Banks hereunder and the Borrowers&#146; obligations under this paragraph shall survive the termination of the Commitments
and the repayment of all other Obligations hereunder and (b)&nbsp;from and after the First Amendment Effective Date, the Applicable Margin for each calendar quarter shall be the applicable percentage per annum set forth below determined by reference
to the average daily level of Aggregate Revolver Excess Availability during the previous calendar quarter: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="36%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:43.25pt; font-size:8pt; font-family:Times New Roman">Pricing Level</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Aggregate<br>Revolver Excess<br>Availability</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Base&nbsp;Rate&nbsp;Loans<BR>/&nbsp;Canadian&nbsp;Prime<BR>Rate Loans</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">LIBOR&nbsp;Loans&nbsp;/<BR>Canadian&nbsp;BA&nbsp;Rate<BR>Loans</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Standby&nbsp;Letter<BR>of Credit Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Documentary<BR>Letter of<BR>Credit Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Greater&nbsp;than</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman"><B>$60,000,000</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">II</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less&nbsp;than&nbsp;or&nbsp;equal&nbsp;to<BR>$60,000,000 but</B> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman"><B>greater than $40,000,000</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">III</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less than or equal to<BR>$40,000,000&nbsp;but&nbsp;greater<BR>than $20,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IV</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less than or equal to<BR>$20,000,000</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The margins shall be subject to increase or decrease on a quarterly basis. Not
more than ten (10)&nbsp;Business Days after the first day of each calendar quarter, the Administrative Agent shall determine the Applicable Margin for such calendar quarter (which shall be effective as of the first calendar day of such calendar
quarter) based on the average daily level of Aggregate Revolver Excess Availability for the prior calendar quarter. Additionally, in any calendar quarter that the Applicable Margin, as determined by reference to the average daily level of Aggregate
Revolver Excess Availability during the previous calendar quarter, would have been set at either Level II, Level III or Level IV above, and the Interest Coverage Ratio for the immediately preceding Fiscal Quarter shall have been greater than 1:1,
then, so long as no Default or Event of Default exists, the Applicable Margin shall be upgraded by one Level for such calendar quarter (which shall be effective as of the first calendar day of such calendar quarter) such that the Applicable Margin
set forth in Level I, Level II or Level III, as the case may be, shall apply. If, as a result of any restatement of or other adjustment to the Aggregate Revolver Excess Availability or Interest Coverage Ratio calculations or for any other reason,
the Borrowers or the Administrative Agent determines that (i)&nbsp;the Aggregate Revolver Excess Availability or Interest Coverage Ratio as calculated by the Borrowers as of any applicable date was inaccurate and (ii)&nbsp;a proper calculation of
the Aggregate Revolver Excess Availability or Interest Coverage Ratio would have resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the
Applicable Lenders or the Issuing Banks, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrowers under any Insolvency Proceeding,
automatically and without further action by the Administrative Agent, any Lender or the Issuing Banks), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees
actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the Issuing Banks hereunder and the Borrowers&#146; obligations under this paragraph shall survive the termination of the Commitments
and the repayment of all other Obligations hereunder[<STRIKE>. Notwithstanding anything to the contrary herein, the daily average level of Aggregate Revolver Excess Availability from the Third Amendment Effective Date through the closing and
consummation of the Recapitalization Transaction shall be calculated after giving effect to and deducting in the calculation thereof the amount of $10,000,000 required to be maintained pursuant to Section&nbsp;10.1.24 (&#147;Availability&#148;), and
without regard to the proviso in such Section</STRIKE>]. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Pension Legislation</U> - at any time, any pension
or retirement benefits legislation (be it national, federal, provincial, territorial, foreign or otherwise) then applicable to the Borrowers or any of their Subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Unused Fee Rate</U> &#150; (a)&nbsp;for periods from the Closing Date to the date immediately preceding the First
Amendment Effective Date, the Applicable Unused Fee Rate for each calendar quarter shall be the applicable percentage per annum set forth below determined by reference to the average daily Total Revolver Outstandings (excluding Swingline Loans)
during the prior calendar quarter: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:18.20pt; font-size:8pt; font-family:Times New Roman">Level</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Total&nbsp;Revolver&nbsp;Outstandings</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(excluding Swingline Loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Applicable&nbsp;Unused&nbsp;Fee&nbsp;Rate</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Greater&nbsp;than&nbsp;50%&nbsp;of&nbsp;the&nbsp;Total Revolver Commitments</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.375</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">II</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Less&nbsp;than&nbsp;or&nbsp;equal&nbsp;to&nbsp;50%&nbsp;of&nbsp;the Total Revolver Commitments</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, the Applicable Unused Fee Rate in effect from the Closing Date
through June&nbsp;30, 2011 shall be the Applicable Unused Fee Rate set forth in Level I above. Thereafter, the applicable rate shall be subject to increase or decrease on a quarterly basis. Not more than ten (10)&nbsp;Business Days after the first
day of each calendar quarter, the Administrative Agent shall determine the Applicable Unused Fee Rate for such calendar quarter (which shall be effective as of the first calendar day of such calendar quarter) based on the average daily level of
Total Revolver Outstandings (excluding Swingline Loans) during the prior calendar quarter. If, as a result of any restatement of or other adjustment to the Total Revolver Outstandings (excluding Swingline Loans) calculations or for any other reason,
the Borrowers or the Administrative Agent determines that (i)&nbsp;the average daily Total Revolver Outstandings (excluding Swingline Loans) as calculated by the Borrowers for any applicable calendar quarter was inaccurate and (ii)&nbsp;a proper
calculation of the average daily Total Revolver Outstandings (excluding Swingline Loans) for such applicable calendar quarter would have resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to
pay to the Administrative Agent for the account of the Applicable Lenders, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrowers under any
Insolvency Proceeding, automatically and without further action by the Administrative Agent or any Lender), an amount equal to the excess of the amount of fees that should have been paid for such period over the amount of fees actually paid for such
period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the Issuing Banks hereunder and the Borrowers&#146; obligations under this paragraph shall survive the termination of the Commitments and the repayment of
all other Obligations hereunder and (b)&nbsp;from and after the First Amendment Effective Date the Applicable Unused Fee Rate for each calendar quarter shall be 0.375%&nbsp;per annum at all times. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Appraised A/R Liquidation Value</U> - the product of (a)&nbsp;the net book value of Eligible Private Label and Corporate
Accounts <U>multiplied</U> <U>by</U> (b)&nbsp;the percentage with regards to each category of accounts determined from the then most recent appraisal of Eligible Private Label and Corporate Accounts undertaken at the request of the Administrative
Agent, to reflect the appraised estimate of the net recovery on the Eligible Private Label and Corporate Accounts on a forced liquidation basis. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Appraised Inventory Liquidation Value</U> - with respect to each Eligible Inventory Category, the product of (a)&nbsp;the
Cost of Eligible Inventory (net of Inventory Reserves) of such Eligible Inventory Category <U>multiplied</U> <U>by</U> (b)&nbsp;that percentage with regards to each category of Inventory, determined from the then most recent appraisal of the
Inventory of the Borrowers, Henry U.S. and Mayor&#146;s Florida undertaken at the request of the Administrative Agent, to reflect the appraiser&#146;s estimate of the net recovery on the relevant Inventory of such Person in the event of any
liquidation of that Inventory. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Approved Budget</U> - the thirteen (13)&nbsp;week cash flow budget prepared by
the Borrowers and compiled by Richter Advisory Services Inc. (or another financial and restructuring consultant reasonably satisfactory to the Agents) and furnished to the Agents and the Lenders on or prior to the Third Amendment Effective Date and
which is approved by, and in form and substance satisfactory to, the Agents in their sole discretion, as the same may be updated, modified or supplemented from time to time as provided in <U>Section&nbsp;10.1.23</U> (it being acknowledged that the
form of the thirteen (13)&nbsp;week cash flow budget delivered by the Borrowers to the Agents on June&nbsp;5, 2014 is satisfactory, it being further agreed that no additional line items (other than with respect to special sales as contemplated in
<U>Section&nbsp;10.2.26</U>) shall be included in any future budget without the prior written consent of the Agents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Approved Budget Variance Report</U> - a weekly report provided by the Borrowers to the Agents (a)&nbsp;showing by line item
Actual Cash Receipts, Actual Disbursement Amounts and total available Canadian Borrowing Capacity, US Borrowing Capacity and Term Loan Borrowing Capacity for the last day of the Prior Week and for the other three weeks of the Cumulative Four Week
Period, noting therein all variances, on a line-item basis, from amounts set forth for such period in the Approved Budget, and shall include explanations for all material variances, and (b)&nbsp;certified by a Senior Officer of the Borrowers.
Notwithstanding the foregoing, the first Approved Budget Variance Report shall cover the weeks ending June&nbsp;7, 2014 and June&nbsp;14, 2014 and shall be furnished on June&nbsp;20, 2014. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Approved Fund</U> - any Person (other than a natural person) that is engaged in making, holding or investing in extensions
of credit in its ordinary course of business and is administered or managed by a Lender, an entity that administers or manages a Lender, or an Affiliate of either. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Arranger Indemnitees</U> - each Arranger and its officers, directors, employees, Affiliates, branches, agents, advisors and
attorneys. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Arrangers</U> &#150; Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated and Wells Fargo Capital
Finance, LLC in their capacities as co-lead arrangers and co-book managers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Assignee Group</U> - two or more Eligible
Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Assignment and Assumption Agreement</U> - an assignment and assumption agreement between a Lender and Eligible Assignee,
substantially in the form of <B>Exhibit C</B> hereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Auto-Extension Letter of Credit</U> - as defined in
<B>Section&nbsp;2.3.1(g)</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Auto-Reinstatement Letter of Credit</U> - as defined in <B>Section&nbsp;2.3.1(h)</B>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Availability Block</U> &#150; as of any date of determination,
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>(a)&nbsp;at all times prior to the Fifth Amendment Effective Date,</B> </U>the greater of (i)&nbsp;ten percent (10%)&nbsp;<U>multiplied by</U> the Term Loan Borrowing Capacity (calculated
without giving effect to the Availability Block, the Seasonal Availability Block[<STRIKE>, the Term Loan Discretionary Reserve,</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> <B>or</B></U> Schedule III Reserve[<STRIKE> or the Term
Loan Supplemental Reserve), and (ii)&nbsp;$8,500,000.</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt">)<B>, and (ii)&nbsp;$8,500,000 and (b)&nbsp;at all times immediately after the Fifth Amendment Effective Date, the greater of
(i)&nbsp;thirteen and one half percent (13.5%)&nbsp;multiplied by the Term Loan Borrowing Capacity (calculated without giving effect to the Availability Block or the Montrovest LC to the extent a Montrovest LC Event has not occurred), and (ii)
$11,000,000.</B></U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Availability Reserves</U> - the sum (without duplication) of
(a)&nbsp;[reserved]; (b)&nbsp;the Rent and Charges Reserve; (c)&nbsp;the Bank Product Reserve; (d)&nbsp;the aggregate amount of liabilities secured by Liens upon Collateral that are senior or pari passu to the Applicable Agent&#146;s Liens (but
imposition of any such reserve shall not waive an Event of Default arising therefrom); (e)&nbsp;reserves established by the Administrative Agent based on Customer Credit Liabilities; (f)&nbsp;reserves established by the Administrative Agent based on
appraisals (including, without limitation, &#147;desktop&#148; appraisals) and field exams of the Collateral and commercial finance exams of the Loan Parties&#146; books and records; (g)&nbsp;Taxes which might have priority over the interests of the
Agents in the Collateral; (h)&nbsp;reserves established by the Administrative Agent based on outstanding accounts payable owing to consignment vendors; (i)&nbsp;Availability Block; (j)&nbsp;Seasonal Availability Block; (k)&nbsp;the Loan to Value
Reserve; (l)[<STRIKE> the Term Loan Discretionary Reserve,</STRIKE>] the Schedule III Reserve and the [<STRIKE>Term Loan Supplemental Reserve</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U>; (m)&nbsp;with
respect to the Canadian Loan Parties, without duplication, the Canadian Priority Payables Reserves; and (n)&nbsp;such additional reserves as the Administrative Agent from time to time determines in the Administrative Agent&#146;s reasonable
discretion as being appropriate (without limiting the generality of this clause (n), reserves that (x)&nbsp;ensure that the Loan Parties maintain adequate liquidity for the operation of their business, (y)&nbsp;cover any deterioration in the amount
or value of the Collateral and (z)&nbsp;reflect impediments to the Applicable Agent&#146;s ability to realize upon the Collateral, shall, in each case, be deemed to be a reasonable exercise of the Administrative Agent&#146;s discretion). The
Administrative Agent shall impose the Availability Block, the Seasonal Availability Block[<STRIKE>,</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and</B></U> the Loan to Value Reserve[<STRIKE>, the Schedule III Reserve (in
accordance with the terms of such Schedule III Reserve), the Term Loan Supplemental Reserve (in accordance with the terms of such Term Loan Supplemental Reserve) and the Term Loan Discretionary Reserve</STRIKE>]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Availability Shortfall &#150; as defined in Section 10.2.28.</B></U>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank of America</U> - Bank of America, N.A., a national banking association, and its successors and assigns. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank of America-Canada Branch</U> - Bank of America, N.A. (acting through its Canada branch). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank of America Indemnitees</U> - Bank of America and its officers, directors, employees, Affiliates, branches (including
Bank of America-Canada Branch), agents, mandataries, advisors and attorneys. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank Product</U> - any of the following
products, services or facilities extended to the Loan Parties or any Subsidiary by any Lender or any of its Affiliates or branches: (a)&nbsp;Cash Management Services; and (b)&nbsp;Leasing Obligations; <U>provided</U>, <U>however</U>, that Bank
Products shall not be limited to Cash Management Services and Leasing Obligations, but may also include other similar products, services or facilities provided by any Lender or any of its Affiliates or branches pursuant to the request by, or
agreement with, any Loan Party or any Subsidiary; <U>provided</U>, <U>further</U>, that for any of the foregoing to be included as an &#147;Obligation&#148; for purposes of a distribution under <B>Section&nbsp;5.5</B> and for purposes of the
Security Documents, the applicable bank product provider and Loan Party must have previously provided written notice to the Administrative Agent of (i)&nbsp;the existence of such Bank Product, (ii)&nbsp;the maximum dollar amount of obligations
arising thereunder to be included as a Bank Product Reserve (&#147;<U>Bank Product Amount</U>&#148;), and (iii)&nbsp;the methodology to be used by such parties in determining the Bank Product Debt owing from time to time. The Bank Product Amount may
be changed from time to time upon written notice to the Administrative Agent by the provider of the Bank Product and the applicable Loan Party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank Product Amount</U> - as defined in the definition of Bank Product. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank Product Debt</U> - Debt and other obligations of a Loan Party relating to Bank Products. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank Product Reserve</U> - the aggregate amount of reserves reasonably established by the Administrative Agent from time to
time in respect of Bank Product Debt; <U>provided</U> that the amount of such reserves shall not be less than the Bank Product Amount. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bankruptcy Code</U> - Title 11 of the United States Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Base Rate</U> - for any day a fluctuating rate per annum equal to the highest of (a)&nbsp;the Federal Funds Rate <U>plus</U>
1/2 of 1%, (b)&nbsp;the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its &#147;prime rate&#148;, and (c)&nbsp;Adjusted LIBOR for an Interest Period of 1-month beginning on such day plus 100
basis points. The &#147;prime rate&#148; is a rate set by Bank of America based upon various factors including Bank of America&#146;s costs and desired return, general economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced rate. Any change in the prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Base Rate Loan</U> - any Loan that bears interest based on the Base Rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Birks</U> - Birks <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Group Inc. &#150; Groupe Birks Inc. (formerly
known as Birks&nbsp;</B></U>&amp; Mayors Inc.<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>)</B></U>, a Canadian corporation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>BME IPCO</U> - BME IPCO, Inc., a Delaware corporation, constituted as a joint venture in which the Canadian Borrower owns
50% of the issued and outstanding Capital Stock of BME IPCO and Esty Grossman, an individual, owns the remaining 50% of the issued and outstanding Capital Stock of BME IPCO. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>BME IPCO Distribution Agreement</U> - that certain Jewellery Design and Distribution Agreement entered into in Montreal,
Quebec, Canada on August&nbsp;31, 2006, between Esty Grossman, an individual, the Canadian Borrower and BME IPCO, as in effect on November&nbsp;9, 2006, a copy of which is on file with the Administrative Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Board of Governors</U> - the Board of Governors of the Federal Reserve System. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrower</U> and <U>Borrowers</U> - as defined in the preamble hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrower Agent</U> - as defined in <B>Section&nbsp;4.4</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrowing</U> - a group of Loans of one Type that are made on the same day or are converted into Loans of one Type on the
same day. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrowing Base Certificate</U> - a certificate, substantially in the form of <B>Exhibit E</B> or in such
other form satisfactory to the Administrative Agent and the Co-Collateral Agents, by which the Borrowers certify calculation of the US Borrowing Capacity, the Canadian Borrowing Capacity, the Aggregate Revolver Borrowing Capacity and the Term Loan
Borrowing Capacity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Budgeted Cash Receipts</U> - the line items contained in the Approved Budget
under the heading &#147;Total Cash Receipts&#148; during the relevant period of determination as set forth in the Approved Budget. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Budgeted Disbursement Amount</U> - all disbursement line items contained in the Approved Budget other than line items for
&#147;Interest and Fees&#148;, &#147;Related Party Expenses&#148;, &#147;Amendment Fees&#148;, &#147;Montrovest Fee on the $5MM LC&#148;, &#147;Capital Lease Repayments&#148;, and &#147;IQ Principal Payments&#148; during the relevant period of
determination as set forth in the Approved Budget. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Business Day</U> - any day (a)&nbsp;excluding Saturday, Sunday and
any other day on which banks are permitted to be closed under the laws of the State of New York, (b)&nbsp;when used with reference to a LIBOR Loan, also excluding any day on which banks do not conduct dealings in Dollar deposits on the London
interbank market and (c)&nbsp;when used with reference to a Canadian Revolver Loan, also excluding any other day on which banks are permitted or required to be closed in Toronto, Ontario, Canada or in Montr&eacute;al, Qu&eacute;bec, Canada. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Agent</U> - Bank of America-Canada Branch having a branch in Toronto, Ontario, Canada, in its capacity as
administrative agent for the Lenders and as collateral agent for the Secured Parties regarding all matters concerning Collateral of the Canadian Loan Parties and Collateral of all other Loan Parties situated in Canada, or any successor Canadian
Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian BA Rate</U> - for the Interest Period of each Canadian BA Rate Loan, the rate of interest per annum
equal to the annual rates applicable to Canadian Dollar bankers&#146; acceptances having an identical or comparable term as the proposed Canadian BA Rate Loan displayed and identified as such on the display referred to as the &#147;CDOR Page&#148;
(or any display substituted therefor) of Reuter Monitor Money Rates Service (or, as determined by the Canadian Agent, such other commercially available source providing quotations of annual rates applicable to Canadian Dollar bankers&#146;
acceptances having an identical or comparable term as the proposed Canadian BA Rate Loan) as at approximately 10:00 A.M. Eastern time on such day (or, if such day is not a Business Day, as of 10:00 A.M. Eastern time on the immediately preceding
Business Day) <U>plus</U> five (5)&nbsp;basis points; <U>provided</U> that if for any reason none of the foregoing rates is available at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest
whole multiple of 1/100 of 1%) as of 10:00 A.M. Eastern time on such day at which a Canadian chartered bank listed on Schedule 1 of the <I>Bank Act </I>(Canada) as selected by the Canadian Agent is then offering to purchase Canadian Dollar
bankers&#146; acceptances accepted by it having such specified term (or a term as closely as possible comparable to such specified term), <U>plus</U> five (5)&nbsp;basis points. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian BA Rate Loans</U> - Canadian Revolver Loans bearing interest calculated by reference to the Canadian BA Rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Borrower</U> - as defined in the preamble hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Borrowing Capacity</U> - on any date of determination, an amount in Canadian Dollars equal to the lesser of
(a)&nbsp;the aggregate amount of Canadian Revolver Commitments and (b)&nbsp;the sum of (i)&nbsp;85% of the Appraised Inventory Liquidation Value of each Eligible Inventory Category owned by the Canadian Borrower; <U>plus</U> (ii)&nbsp;90% of the
Appraised A/R Liquidation Value of Eligible Private Label and Corporate Accounts of the Canadian Borrower and CGS Canada; <U>plus</U> (iii)&nbsp;90% of the Eligible Major Credit Card Receivables of the Canadian Borrower; <U>[</U><STRIKE>plus
(iv)&nbsp;without duplication in the calculation of the Canadian Borrowing Capacity, the US Borrowing Capacity or the Term Loan Borrowing Capacity, the Montrovest LC Effective Advance Rate </STRIKE> </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
<U><strike><u>multiplied</u></strike></U><STRIKE> by the then stated amount of the Montrovest LC; </STRIKE><U><strike><u>minus</u></strike></U><STRIKE>
(v</STRIKE><U>]</U><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>minus (iv</B></U>)&nbsp;the Availability Reserve in respect of the Canadian Borrower and CGS Canada (it being understood that the amount of the Availability Block, the
Seasonal Availability Block, the Loan to Value Reserve, the Schedule III Reserve[<STRIKE>, the Term Loan Supplemental Reserve</STRIKE>] and the [<STRIKE>Term Loan Discretionary
Reserve</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U> shall be allocated, in the sole discretion of the Administrative Agent and without duplication, among the Aggregate Revolver Borrowing Capacity, the
Canadian Borrowing Capacity and the US Borrowing Capacity). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Commitment Termination Date</U> - the earliest to
occur of (a)&nbsp;the Termination Date; (b)&nbsp;the date on which the Canadian Revolver Commitments are terminated pursuant to <B>Section&nbsp;2.2</B>; or (c)&nbsp;the date on which the Canadian Revolver Commitments are terminated pursuant to
<B>Section&nbsp;11.2</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Concentration Accounts</U> - special concentration accounts established by the
Canadian Borrower with the Canadian Agent, subject to the control of the Canadian Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Debtor Relief
Laws</U> - means the Bankruptcy and Insolvency Act (Canada), the Companies&#146; Creditors Arrangement Act (Canada), the Winding-up<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and Restructuring</B></U> Act (Canada) and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, dissolution or similar debtor relief laws of Canada. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Dollar Equivalent</U><I> - </I>of any amount means, at the time of determination thereof, (a)&nbsp;if such amount
is expressed in Canadian Dollars, such amount and (b)&nbsp;if such amount is denominated in any other currency, the equivalent of such amount in Canadian Dollars as determined by the Administrative Agent using the published spot rate as quoted by
Bank of America or its branches or Affiliates to customers generally as its noon spot rate at which such currency is offered on such day for Canadian Dollars. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Dollars or Cdn. $</U> - the lawful currency of Canada. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Guarantors</U> - all Subsidiaries of the Borrowers that have executed a Guaranty and are organized under the laws
of Canada or any province or territory thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian LC Conditions</U> - the following conditions necessary for
issuance of a Letter of Credit for the account or benefit of the Canadian Borrower: (a)&nbsp;each of the conditions set forth in <B>Section&nbsp;6</B>; (b)&nbsp;after giving effect to such issuance, Total LC Obligations do not exceed the Letter of
Credit Subline, Total Canadian Revolver Outstandings do not exceed the Canadian Borrowing Capacity, and Total Revolver Outstandings do not exceed the Aggregate Revolver Borrowing Capacity; (c)&nbsp;the expiration date of such Letter of Credit is
(i)&nbsp;subject to <B>Section&nbsp;2.3.1(g)</B> in respect of Auto-Extension Letters of Credit, no more than 365 days from issuance, in the case of standby Letters of Credit, (ii)&nbsp;no more than 180 days from issuance, in the case of documentary
Letters of Credit, and (iii)&nbsp;at least 20 Business Days prior to the Termination Date; (d)&nbsp;the Letter of Credit and payments thereunder are denominated in Dollars or Canadian Dollars; and (e)&nbsp;the form of the proposed Letter of Credit
is reasonably satisfactory to the Canadian Agent and the Issuing Banks in their discretion. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian LC Obligations</U>
- an amount equal to the sum (without duplication) of the Canadian Dollar Equivalent of (a)&nbsp;all amounts owing by the Canadian Borrower for any drawings under Letters of Credit (including in respect of any payment made by Bank of America-Canada
Branch, as Issuing Bank under any LC Guaranty) issued for the account or on behalf of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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Canadian Borrower; (b)&nbsp;the aggregate undrawn amount of all outstanding Letters of Credit issued for the account or on behalf of the Canadian Borrower; and (c)&nbsp;all fees and other amounts
owing with respect to Letters of Credit issued for the account or on behalf of the Canadian Borrower. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian
Lenders</U> - the Lenders indicated on <B>Schedule 1.1(a)</B> as the Lenders of Canadian Revolver Loans, the Canadian Agent in its capacity as a provider of Swingline Loans, Bank of America-Canada Branch, as the Issuing Bank (unless the context
otherwise requires) and any other Person who hereafter becomes a &#147;Canadian Lender&#148; pursuant to the terms hereof. It is acknowledged and understood that, as of the Closing Date, each Canadian Lender shall be a Canadian Qualified Lender.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Loan Parties</U> - collectively, the Canadian Borrower and the Canadian Guarantors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Obligations</U> - all Obligations of the Canadian Loan Parties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Plan</U> - any pension or other employee benefit plan and which is: (a)&nbsp;a plan maintained by any Canadian Loan
Party or any Subsidiary of a Canadian Loan Party; (b)&nbsp;a plan to which any Canadian Loan Party or any Subsidiary of a Canadian Loan Party contributes or is required to contribute; (c)&nbsp;a plan to which any Canadian Loan Party or any
Subsidiary of a Canadian Loan Party was required to make contributions at any time during the five (5)&nbsp;calendar years preceding the date of this Agreement; or (d)&nbsp;any other plan with respect to which any Canadian Loan Party or any
Subsidiary or Affiliate of a Canadian Loan Party has incurred or may incur liability, including contingent liability either to such plan or to any Person, administration or Governmental Authority, including the FSCO. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Prime Rate</U> - on any day, the rate per annum equal to the higher of (a)&nbsp;the rate of interest quoted by Bank
of America-Canada Branch for commercial demand loans made by it in Canada in Canadian Dollars and (b)&nbsp;the Canadian BA Rate for an Interest Period of 1-month beginning on such day plus 100 basis points. The &#147;Canadian Prime Rate&#148; is a
rate set by Bank of America-Canada Branch based upon various factors including Bank of America-Canada Branch&#146;s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans,
which may be priced at, above, or below such announced rate. Any change in the &#147;Canadian Prime Rate&#148; announced by the Canadian Agent shall take effect at the opening of business on the day specified by the Canadian Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Prime Rate Loans</U> - Canadian Revolver Loans bearing interest at the Canadian Prime Rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Priority Payables Reserves</U> - reserves for amounts payable by the Canadian Loan Parties and secured by any
Liens, choate or inchoate, which rank or which would reasonably be expected to rank in priority to or <I>pari passu</I> with the Applicable Agent&#146;s Liens, including, without limitation, any such amounts due and not paid for wages, vacation pay,
severance pay, amounts payable under the <I>Wage Earner Protection Program Act</I> (Canada), amounts due and not paid under any legislation relating to workers&#146; compensation or to employment insurance, all amounts deducted or withheld and not
paid and remitted when due under the ITA, sales tax, goods and services tax, value added tax, harmonized sales tax, excise tax, tax payable pursuant to Part IX of the <I>Excise Tax Act</I> (Canada) or similar applicable provincial legislation,
government royalties, amounts currently or past due and not paid for realty, municipal or similar taxes and all amounts currently or past due and not contributed, remitted or paid to any Canadian Plan or under the Canada Pension Plan, the <I>Pension
Benefits Act</I> (Ontario), the <I>Supplemental Pension Plans Act </I>(Qu&eacute;bec) or otherwise as required to be contributed pursuant to any Applicable Pension Legislation </P>
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relating to Canadian Plans, or any similar statutory or other claims that would have or would reasonably be expected to have priority over or <I>pari passu</I> with any Liens granted to the
Applicable Agent in the future. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Qualified Lender</U> - a Person (a)&nbsp;that is not a non-resident of Canada
for the purpose of the ITA, or (b)&nbsp;that is an &#147;authorized foreign bank&#148; as defined in Section&nbsp;2 of the Bank Act (Canada), or (c)&nbsp;whose activities are not regulated by the Bank Act (Canada) and, in each case under <U>clause
(b)</U>&nbsp;and <U>(c)</U>&nbsp;that is dealing at arms&#146; length from the Canadian Borrower within the meaning of the ITA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolver Commitment</U> - for any Canadian Lender, its obligation to make Canadian Revolver Loans and to
participate in Canadian LC Obligations up to the maximum principal amount shown on <B>Schedule 1.1(a)</B>, or as specified hereafter in the most recent Assignment and Assumption Agreement to which it is a party (as such amount may be increased or
decreased pursuant to the terms hereof). &#147;<U>Canadian Revolver Commitments</U>&#148; means the aggregate amount of such commitments of all Canadian Lenders. On the Closing Date<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and at
all times prior to the Fifth Amendment Effective Date</B></U>, the Canadian Revolver Commitments are Cdn. $[<STRIKE>115,000,000.</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>115,000,000, and, as of the Fifth Amendment
Effective Date, the Canadian Revolver Commitments are Cdn. $110,000,000.</B></U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolver Excess
Availability</U> - as of any date of determination, an amount equal to the Canadian Borrowing Capacity, <U>minus</U> the Total Canadian Revolver Outstandings. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolver Loans</U> - (a)&nbsp;a Loan made pursuant to <B>Section&nbsp;2.1.1(c)</B>, (b)&nbsp;any Swingline Loan for
the account of the Canadian Borrower, (c)&nbsp;any Overadvance Loan for the account of the Canadian Borrower deemed by the Canadian Agent to be a Canadian Revolver Loan or (d)&nbsp;any Protective Advance deemed by the Canadian Agent to be a Canadian
Revolver Loan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolver Note</U> - a promissory note to be executed by the Canadian Borrower in favor of a
Canadian Lender in the form of <B>Exhibit B</B>, which shall be in the amount of such Canadian Lender&#146;s Canadian Revolver Commitment and shall evidence the Canadian Revolver Loans made by such Canadian Lender. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolver Overadvance</U> - as defined in <B>Section&nbsp;2.1.4</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Security Documents</U> - the General Security Agreement and the deed of hypothec charging the universality of
moveable property each granted by the Canadian Loan Parties in favor of the Canadian Agent, together with all security agreements, deeds of hypothec, pledge agreements, or other collateral security agreements, instruments or documents (including
Lien Waivers, Lien Priority Agreements and estoppel letters) entered into or to be entered into by any Loan Party pursuant to which such Loan Party grants or perfects a security interest in its assets to the Canadian Agent, including, without
limitation PPSA and UCC financing statements and certified statements issued by the Qu&eacute;bec Register of Personal and Movable Real Rights, required to be executed or delivered pursuant to any Canadian Security Document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Adequacy Regulation</U> - any law, rule, regulation, guideline, request or directive of any central bank or other
Governmental Authority, whether or not having the force of law, regarding capital adequacy of a bank or any Person controlling a bank. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Assets</U> - fixed assets, both tangible (such as land, buildings, fixtures, machinery and equipment) and intangible
(such as patents, copyrights, trademarks, franchises and goodwill); provided that Capital Assets shall not include any item customarily charged directly to expense or depreciated over a useful life of twelve (12)&nbsp;months or less in accordance
with GAAP. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block &#150;
as of any date of calculation after December&nbsp;20, 2014, an amount equal to $12,500,000 minus the Seasonal Availability Block then in effect, provided however, that such Capital Block shall be removed if the following conditions are satisfied:
(i)&nbsp;Borrowers have delivered the required financial reporting statements for the period ending December&nbsp;31, 2014 which demonstrate that the Loan Parties are in compliance with the financial covenant set forth in Section&nbsp;10.2.28 and
(ii)&nbsp;there are no Events of Default continuing on the date the financial reporting statements contemplated in paragraph (i)&nbsp;are delivered to the Agents and the Lenders.</B></U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Expenditures</U> - amounts paid or Debt incurred by the Borrowers or any of their Subsidiaries in connection with
(i)&nbsp;the purchase or lease by the Borrowers or any of their Subsidiaries of Capital Assets that would be required to be capitalized and shown on the balance sheet of such Person in accordance with GAAP or (ii)&nbsp;the lease of any assets by the
Borrowers or any of their Subsidiaries as lessee under any synthetic lease to the extent that such assets would have been Capital Assets had the synthetic lease been treated for accounting purposes as a Capital Lease. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Lease</U> - any lease that is required to be capitalized for financial reporting purposes in accordance with GAAP.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Stock</U> - (a)&nbsp;in the case of a corporation, corporate stock; (b)&nbsp;in the case of an association or
other business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (c)&nbsp;in the case of a partnership or limited liability company, partnership or membership interests
(whether general or limited); and (d)&nbsp;any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateral</U> - cash, and any interest or other income earned thereon, that is delivered to the Applicable Agent to
Cash Collateralize any Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateral Account</U> - a demand deposit, money market or other account
established by the Applicable Agent at Bank of America or its Affiliates or branches, which account shall be subject to such Agent&#146;s first priority perfected Liens for the benefit of the Secured Parties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateralize</U> - the delivery of cash to the Applicable Agent, as security for the payment of Obligations, in an
amount equal to (a)&nbsp;with respect to US LC Obligations or Canadian LC Obligations, 105% of the aggregate US LC Obligations or Canadian LC Obligations, as the case may be, and (b)&nbsp;with respect to any inchoate, contingent or other Obligations
(including Obligations arising under Bank Products), the Administrative Agent&#146;s good faith estimate of the amount due or to become due, including all fees and other amounts relating to such Obligations. &#147;<U>Cash Collateralization</U>&#148;
has a correlative meaning. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Equivalents</U> - (a)&nbsp;marketable obligations issued or unconditionally guaranteed
by, and backed by the full faith and credit of, the United States government or issued by any agency of the United States the obligations of which are backed by the full faith and credit of the United States, in each case maturing within 12 months
of the date of acquisition; (b)&nbsp;marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within 12 months after
such date and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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having, at the time of acquisition thereof, a rating of at least A-1 from S&amp;P or at least P-1 from Moody&#146;s; (c)&nbsp;certificates of deposit, time deposits and bankers&#146; acceptances
maturing within 12 months of the date of acquisition, and overnight bank deposits, in each case which are issued by a commercial bank organized under (i)&nbsp;the laws of the United States or any state or district thereof or (ii)&nbsp;the laws of
Canada or any province or territory thereof, in each case, rated A-1 (or better) by S&amp;P or P-1 (or better) by Moody&#146;s at the time of acquisition; (d)&nbsp;repurchase obligations with a term of not more than 30 days for underlying
investments of the types described in clauses (a)&nbsp;and (b)&nbsp;and (c)&nbsp;entered into with any bank meeting the qualifications specified in clause (c); (e)&nbsp;commercial paper rated A-1 (or better) by S&amp;P or P-1 (or better) by
Moody&#146;s, and maturing within twelve months of the date of acquisition; and (f)&nbsp;shares of any money market fund that has substantially all of its assets invested continuously in the types of investments referred to above, has net assets of
at least $500,000,000 and has the highest rating obtainable from either Moody&#146;s or S&amp;P. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Management
Services</U> - any services provided from time to time by any Agent, any Lender or any of its Affiliates or branches to any Borrower, any Guarantor or any Subsidiary in connection with operating, collections, payroll, trust, or other depository or
disbursement accounts, including automatic clearinghouse, controlled disbursement, depository, electronic funds transfer, information reporting, lockbox, stop payment, overdraft and/or wire transfer services. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CERCLA</U> - the Comprehensive Environmental Response Compensation and Liability Act (42 U.S.C. &#167; 9601 <U>et</U>
<U>seq</U>.). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CGS Canada</U> &#150; Cash, Gold&nbsp;&amp; Silver Inc. &#150; Or et Argent, Comptant Inc., a corporation
incorporated under the laws of Canada. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Change of Control</U> - at any time, the occurrence of one or more of the
following events: (i)&nbsp;Birks shall cease to own directly or indirectly (A)&nbsp;at least fifty-one percent (51%)&nbsp;of the issued and outstanding Voting Stock of Mayor&#146;s or (B)&nbsp;all of the economic and voting rights associated with
all of the outstanding Capital Stock of any of its other Subsidiaries (other than Subsidiaries of Mayor&#146;s, as to which clause (iii)&nbsp;below shall govern), (ii)&nbsp;Montrovest B.V. shall cease to own directly or indirectly at least fifty-one
percent (51%)&nbsp;of the votes attaching to the Voting Stock of Birks[<STRIKE>,</STRIKE>] or (iii)&nbsp;[<STRIKE>Mayors</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Mayor&#146;s</B></U> shall cease to own directly or
indirectly all of the economic and voting rights associated with all of the outstanding Capital Stock of any of its Subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Chattel Paper</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Civil Code of Qu&eacute;bec</U> - the Civil Code of Qu&eacute;bec as in effect from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Claims</U> - as defined in <B>Section&nbsp;14.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Closing Date</U> - as defined in<B> Section&nbsp;6.1</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Co-Collateral Agent Indemnitees</U> &#150; each Co-Collateral Agent and its officers, directors, employees, Affiliates,
branches, agents, advisors and attorneys. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Co-Collateral Agent Rights Agreement</U> &#150; a letter agreement, dated the
date hereof, by and among the Agents, the Co-Collateral Agents, certain Lenders and the Loan Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Co-Collateral
Agents</U> &#150; as defined in the preamble hereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Code</U> - the Internal Revenue Code of 1986, as amended and in
effect from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Collateral</U> - all Property described in <B>Section&nbsp;7.1</B>, all
Property described in any Security Document as security for any Obligations, and all other Property that now or hereafter secures (or is intended to secure) any Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Collateral Value Report</U> - as defined in <B>Section 10.1.1</B>.<B></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commercial Tort Claim</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commitments</U> - collectively, the US Revolver Commitments and the Canadian Revolver Commitments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commitment Termination Date</U> - the earliest to occur of (a)&nbsp;the Termination Date; (b)&nbsp;the date on which the
Commitments are terminated pursuant to <B>Section&nbsp;2.2</B>; or (c)&nbsp;the date on which the Commitments are terminated pursuant to <B>Section&nbsp;11.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Compliance Certificate</U> - a certificate, substantially in the form of <B>Exhibit D</B> hereto or such other form approved
by the Administrative Agent and the Required Lenders, by which the Borrowers certify, among other things, the absence of Defaults or Events of Default or, to the extent either exist, describing the nature of such Default or Event of Default and the
Borrowers&#146; plan to address such Default or Event of Default. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Concentration Accounts</U> - collectively, the US
Concentration Account and the Canadian Concentration Accounts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated or consolidated</U> - with reference to any
term defined herein, shall mean that term as applied to the accounts of the Borrowers and their Subsidiaries, consolidated in accordance with GAAP. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated EBITDA</U> - with respect to any fiscal period, an amount equal to the sum of (a)&nbsp;Consolidated Net Income
of the Borrowers and their Subsidiaries for such fiscal period, plus (b)&nbsp;in each case to the extent deducted in the calculation of such Persons&#146; Consolidated Net Income and without duplication, (i)&nbsp;depreciation and amortization for
such period, plus (ii)&nbsp;income tax expense for such period, plus (iii)&nbsp;Consolidated Total Interest Expense paid or accrued during such period, plus (iv)&nbsp;other noncash charges for such period,
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>plus (v)&nbsp;extraordinary one-time charges related to severance and recruitment, relocation, temporary position redundancy, restructuring, the Tamarac lease termination, training and
associated travel, as well as related consulting and legal fees and costs (the &#147;Permitted Extraordinary Addbacks&#148;), in amounts not to exceed the amounts set forth in the table below for the applicable periods, </B></U>all as determined in
accordance with GAAP. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Permitted<BR>Extraordinary&nbsp;Addback</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">9-month period ending December&nbsp;31, 2014</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">1,917,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">10-month period ending January&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">2,719,400</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">11-month period ending February&nbsp;28, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,012,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Permitted<BR>Extraordinary&nbsp;Addback</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending March&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">4,631,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending April&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">4,393,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending May&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,843,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending June&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">4,559,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending July&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">4,440,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending August 31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">4,240,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending September&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,817,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending October&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,780,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending November&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,732,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending December&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,695,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending January&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">3,125,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending February&nbsp;28, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">2,904,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending March&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">1,285,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending April&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">1,285,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending May&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">1,285,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending June&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending July&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending August&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="17%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Permitted<BR>Extraordinary&nbsp;Addback</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending September&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending October&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending November&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending December&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">304,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending January&nbsp;31, 2017 and each 12-month period ending
thereafter</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">0</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Fixed Charges</U> - for any period of the Borrowers and their Subsidiaries,
determined on a Consolidated basis, without duplication, the sum of (a)&nbsp;Consolidated Total Interest Expense accrued during such period, plus (b)&nbsp;all payments of principal made or required to be made with respect to Debt (other than
(i)&nbsp;the Loans to the extent such payments do not permanently reduce the applicable Commitments and (ii)&nbsp;Management Debt to the extent such payments constitute an expense in the calculation of Consolidated Net Income) during such period,
plus (c)&nbsp;to the extent not constituting Debt, all Restricted Junior Payments made or required to be made in cash during such period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Net Income (or Deficit)</U> - the consolidated net income (or deficit) of the Borrowers and their Subsidiaries,
after deduction of all expenses, Taxes, and other proper charges, determined in accordance with GAAP, after eliminating therefrom all extraordinary nonrecurring items of income. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Total Interest Expense</U> - for any period, the aggregate amount of interest required to be paid or accrued by
the Borrowers and their Subsidiaries during such period on all Debt of the Borrowers and their Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or
capitalized, including payments consisting of interest in respect of any Capital Lease or any synthetic lease, and including commitment fees, agency fees, <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>amendment fees, </B></U>facility
fees, balance deficiency fees and similar fees or expenses in connection with the borrowing of money, but excluding amortization of closing fees and expenses, fees and expenses relating to collateral examinations and appraisals and normal ordinary
course account maintenance fees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Contingent Obligation</U> - any obligation of a Person arising from a guaranty,
indemnity or other assurance of payment or performance of any Debt, lease, dividend or other obligation </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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(&#147;<U>primary obligations</U>&#148;) of another obligor (&#147;<U>primary obligor</U>&#148;) in any manner, whether directly or indirectly, including any obligation of such Person under any
(a)&nbsp;guaranty, endorsement, co-making or sale with recourse of an obligation of a primary obligor; (b)&nbsp;obligation to make take-or-pay or similar payments regardless of nonperformance by any other party to an agreement; and
(c)&nbsp;arrangement (i)&nbsp;to purchase any primary obligation or security therefor, (ii)&nbsp;to supply funds for the purchase or payment of any primary obligation, (iii)&nbsp;to maintain or assure working capital, equity capital, net worth or
solvency of the primary obligor, (iv)&nbsp;to purchase Property or services for the purpose of assuring the ability of the primary obligor to perform a primary obligation, or (v)&nbsp;otherwise to assure or hold harmless the holder of any primary
obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the primary obligation (or, if less, the maximum amount for which such Person may be liable under the
instrument evidencing the Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Contractual Obligation</U> - as applied to any Person, any provision of any security issued by that Person or of any
indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cost</U> - the calculated cost of purchases, based on GAAP, which practices are in effect on the date on which this
Agreement was executed as such calculated cost is determined from: invoices received by the Borrowers, Henry U.S. or Mayor&#146;s Florida, as applicable; the Borrowers&#146; purchase journal; or the Borrowers&#146; stock ledger. &#147;Cost&#148;
does not include inventory capitalization costs or other non purchase price charges used in the Borrowers&#146; calculation of cost of goods sold but does include Freight Taxes and Duties. The Cost of Eligible Inventory will be determined in a
manner consistent with the Borrowers&#146; then current tracking practices, based on the Borrowers&#146; stock ledger inventory. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Credit Card Agreement</U> - as defined in <B>Section&nbsp;6.1(p)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Customer Credit Liability</U> - gift certificates, customer deposits, offsets, merchandise credits, layaway obligations,
frequent shopping programs, and similar liabilities of the Borrowers and their Subsidiaries to their retail customers and prospective customers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cumulative Four Week Period</U> - the four-week period up to and through the Saturday of the most recent week then ended,
provided that until the expiration of the four-week period after the Third Amendment Effective Date, &#147;Cumulative Four Week Period&#148; shall mean, (i)&nbsp;initially, the two-week period ending June&nbsp;14, 2014, (ii)&nbsp;thereafter, the
three-week period ending June&nbsp;21, 2014, and (iii)&nbsp;thereafter, the four-week period ending June&nbsp;28, 2014. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CWA</U> - the Clean Water Act (33 U.S.C. &#167;&#167; 1251 <U>et</U> <U>seq</U>.). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani</U> - Damiani International B.V. and its Affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Debt</U> - all Debt owing to Damiani and its Affiliates under the Damiani Debt Documents (including, without
limitation, Debt relating to consigned property delivered by Damiani to a Loan Party) and permitted pursuant to <B>Section&nbsp;10.2.1</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Debt Documents</U> - collectively, (i)&nbsp;the Damiani Distribution Agreement, (ii)&nbsp;the Damiani Security
Agreements and (iii)&nbsp;any other security agreement or other agreement, document or instrument entered into by and among the Loan Parties and Damiani (for itself and on behalf of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
its Affiliates) in connection with the Damiani Distribution Agreement and/or the Damiani Security Agreements, <U>provided</U> that any such other security agreement, other agreement, document or
instrument shall be subject to a Subordination Agreement in form, scope and substance satisfactory to the Agents and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Distribution Agreement</U> - that certain Distribution Agreement dated as of September&nbsp;26, 2009, by and among
the Borrowers (for themselves and on behalf of the other Loan Parties) and Damiani (for itself and on behalf of its Affiliates)[<STRIKE>.</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>, as amended by the renewed and amended
distribution agreement dated as of October&nbsp;3, 2014.</B></U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Security Agreements</U> &#150; collectively,
(i)&nbsp;the Security Agreement (U.S. Form &#150; Blanket Lien on Assets) dated as of October&nbsp;29, 2009 by and among the US Borrower and certain of its Subsidiaries and Damiani (for itself and on behalf of its Affiliates) and (ii)&nbsp;the
General Security Agreement and Hypothec dated as of October&nbsp;29, 2009 by and between the Canadian Borrower and Damiani (for itself and on behalf of its Affiliates). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Subordination Agreement</U> &#150; the Subordination Agreement, dated as of October&nbsp;29, 2009, by and among the
Loan Parties, Damiani (for itself and on behalf of its Affiliates), the Administrative Agent, the Canadian Agent and the Term Loan Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Debt</U> - as applied to any Person, without duplication, whether or not included as indebtedness or liabilities in
accordance with GAAP (a)&nbsp;all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments whether or not representing obligations for
borrowed money; (b)&nbsp;all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers&#146; acceptances, bank guaranties, surety bonds and similar instruments; (c)&nbsp;net
obligations of such Person under any Hedging Agreement; (d)&nbsp;all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business that are not more than
90 days past due); (e)&nbsp;indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether
or not such indebtedness shall have been assumed by such Person or is limited in recourse; (f)&nbsp;Capital Leases and synthetic lease obligations; (g)&nbsp;all obligations of such Person to purchase, redeem, retire, defease or otherwise make any
payment in respect of any equity interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference <U>plus</U> accrued and unpaid dividends; and
(h)&nbsp;all Contingent Obligations of such Person in respect of any of the foregoing. For all purposes hereof, (i)&nbsp;the Debt of any Person shall include the Debt of any partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Debt is expressly made non-recourse to such Person, and (ii)&nbsp;the Damiani Debt constitutes Debt hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Default</U> - (a)&nbsp;an Event of Default or (b)&nbsp;any event or condition that, with the lapse of time or giving of
notice, would constitute an Event of Default. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Default Rate</U> - for any Obligation (including, to the extent permitted
by law, interest not paid when due), 2% <U>plus</U> the interest rate otherwise applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Defaulting
Lender</U> - any Lender that (a)&nbsp;has failed to fund any portion of the Loans or any payment in respect of a US LC Obligation or Canadian LC Obligation required to be funded by it hereunder within one Business Day of the date required to be
funded by it hereunder unless such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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failure has been cured, (b)&nbsp;has otherwise failed to pay over to any Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when
due unless the subject of a good faith dispute or unless such failure has been cured, (c)&nbsp;has been deemed insolvent or become the subject of an Insolvency Proceeding, (d)&nbsp;with respect to which the Applicable Agent or any Issuing Bank has a
good faith belief that such Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (e)&nbsp;with respect to which an entity that controls such Lender has been deemed insolvent or become subject to
an Insolvency Proceeding. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account</U> - as defined in the UCC. The term &#147;Deposit Account&#148; shall
include, for the avoidance of doubt, any Concentration Account and any Dominion Account. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account Bank</U> - any
financial institution selected or approved by the Administrative Agent in its sole discretion exercised reasonably. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account Control Agreement</U> - a letter agreement, in form and substance reasonably acceptable to the Applicable
Agent, executed by the relevant Loan Party, the Applicable Agent, the relevant Deposit Account Bank and any other party thereto (if any). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Document</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Documentary Letter of Credit Fee</U> - as defined in<B> Section&nbsp;3.2.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dollar Equivalent</U><I> - </I>of any amount means, at the time of determination thereof, (a)&nbsp;if such amount is
expressed in Dollars, such amount and (b)&nbsp;if such amount is denominated in any other currency, the equivalent of such amount in Dollars as determined by the Administrative Agent using the published spot rate as quoted by Bank of America or its
branches or Affiliates to customers generally as its noon spot rate at which such currency is offered on such day for Dollars. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dollars or $</U> - lawful money of the United States. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Domestic Subsidiary</U> - any Subsidiary that is organized under the laws of any political subdivision of the United States.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dominion Account</U> - a Deposit Account subject to a Deposit Account Control Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Assignee</U> - a Person that is (a)&nbsp;a Lender, an Affiliate of a Lender or Approved Fund; (b)&nbsp;any other
financial institution<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> or Person</B></U> approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed) and, so long as no Event of Default has occurred and
is continuing, (x)&nbsp;with respect to assignments of the US Revolver Commitments, the US Borrower and (y)&nbsp;with respect to assignments of the Canadian Revolver Commitments, the Canadian Borrower (which approval by such Borrower shall not be
unreasonably withheld or delayed); and (c)&nbsp;during any Event of Default, any Person acceptable to the Administrative Agent in its discretion; <U>provided</U> <U>that</U> notwithstanding the foregoing, &#147;Eligible Assignee&#148; shall not
include (i)&nbsp;any Loan Party or any Affiliate or Subsidiary of any Loan Party or (ii)&nbsp;a natural person. It is acknowledged and understood that either (i)&nbsp;the Administrative Agent or (ii)&nbsp;so long as no Event of Default has occurred
and is continuing, the Canadian Borrower may, in its discretion, decline to give its approval to any Person as an assignee of any Canadian Lender if such Person is not a Canadian Qualified Lender. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Inventory</U> - all Inventory of the Borrowers, Henry U.S. and
Mayor&#146;s Florida consisting of finished goods, work in progress and raw materials and component parts of Inventory, in all cases, at such locations, and of such types, character, qualities and quantities, as the Administrative Agent in its
reasonable discretion from time to time determines to be acceptable for borrowing, as to which Inventory, the Applicable Agent has a perfected security interest which is prior and superior to all security interests, claims, and Liens. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Inventory Category</U> - in respect of any Borrower, Henry U.S. or Mayor&#146;s Florida, the categories of Eligible
Inventory set forth below or such other categories as may be determined by the Agents from time to time in their reasonable discretion: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>US&nbsp;Borrower,&nbsp;Henry&nbsp;U.S.&nbsp;and</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Mayor&#146;s Florida</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:102.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Eligible Inventory Category</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Canadian Borrower</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:95.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Eligible Inventory Category</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic Diamonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Watches and Clocks</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fashion Diamonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Fine Jewelry</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Colored Stones</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Bridal</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pearls</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Giftware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gold Jewelry</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Loose Stones</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Estate Jewelry</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Silver</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rolex Watches</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Gold</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cartier Watches</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Service</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Watches</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Rolex Watches</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Giftware</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loose Stones</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Parts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Letter of Credit</U> - the Montrovest LC to the extent a Montrovest LC Event has
not occurred. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Major Credit Card Receivables</U> - Accounts due to a Borrower, Henry U.S. or Mayor&#146;s
Florida on a non-recourse basis from Visa, Mastercard, American Express Co., Discovercard, Citibank, N.A., Wells Fargo (Canada), and VFC Inc. (a wholly owned subsidiary of TD Bank) and other major credit card processors reasonably acceptable to the
Administrative Agent, as arise in the ordinary course of business and which have been earned by performance. Without limiting the foregoing, none of the following shall be deemed to be Eligible Credit Card Receivables: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Accounts that have been outstanding for more than five (5)&nbsp;Business Days from the date of sale; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Accounts with respect to which a Borrower, Henry U.S. or Mayor&#146;s
Florida, as applicable, does not have good, valid and marketable title thereto, free and clear of any Lien (other than Permitted Liens); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Accounts that are not subject to a first priority Lien in favor of the Administrative Agent or the Canadian Agent, as
applicable, for its benefit and the ratable benefit of the Secured Parties; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Accounts which are disputed, are with
recourse, or with respect to which a claim, counterclaim, offset or chargeback has been asserted (to the extent of such claim, counterclaim, offset or chargeback); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Except as approved by the Agents, Accounts due from major credit card processors as to which the credit card processor has
the right under certain circumstances to require a Borrower, Henry U.S. or Mayor&#146;s Florida, as applicable, to repurchase the Accounts from such credit card processor but only to the extent of any such repurchase obligation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Accounts due from major credit card processors (other than Visa, Mastercard, American Express Co. and Discovercard) which
the Administrative Agent determines in its commercially reasonable discretion acting in good faith to be unlikely to be collected; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Accounts due from major credit card processors as to which the credit card processor has not entered into a Credit Card
Agreement or refused to accept a credit card notification letter from the applicable Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Private Label and
Corporate Accounts</U> &#150; Accounts due on the private label credit card programs and all Accounts due from corporate sales receivables and wholesale receivables, in each case, of the Borrowers, Henry U.S., Mayor&#146;s Florida and CGS Canada, in
each case, which are deemed in the reasonable discretion of the Administrative Agent to be eligible. The Administrative Agent shall act in good faith at all times when determining such eligibility. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Employee Benefit Plan</U> - any employee benefit plan within the meaning of &#167;3(3) of ERISA maintained or contributed to
by the Borrowers or any ERISA Affiliate, other than a Guaranteed Pension Plan or a Multiemployer Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Enforcement
Action</U> - any rightful action to enforce any Obligations or Loan Documents or to realize upon any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, or otherwise). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Agreement</U> - each agreement of the Loan Parties with respect to any Real Estate subject to a Mortgage,
pursuant to which the Loan Parties agree to indemnify and hold harmless the Agents and the Lenders from liability under any Environmental Laws, except for liability caused by any actions of the Agents or the Lenders which are in violation of the
Environmental Laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Laws</U> - all Applicable Laws (including all programs, permits and guidance
promulgated by regulatory agencies), relating to public health (but excluding occupational safety and health, to the extent regulated by OSHA) or the protection or pollution of the environment, including CERCLA, RCRA [<STRIKE>and
CWA</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>CWA, the </B><B><I>Canadian Environmental Protection Act, 1999</I></B><B>, the </B><B><I>Environment Quality Act (Quebec)</I></B><B> and the </B><B><I>Conservation Authorities
Act (Ontario)</I></B></U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Notice</U> - a notice (whether written or oral) from any
Governmental Authority or other Person of any possible noncompliance with, investigation of a possible violation of, litigation relating to, or potential fine or liability under any Environmental Law, or with respect to any Environmental Release,
environmental pollution or hazardous materials, including any complaint, summons, citation, order, claim, demand or request for correction, remediation or otherwise. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Release</U> - a release as defined in CERCLA or under any other Environmental Law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Equipment</U> - as defined in the UCC, including all machinery, apparatus, equipment, fittings, furniture, fixtures, motor
vehicles and other tangible personal Property (other than Inventory), and all parts, accessories and special tools therefor, and accessions thereto and, in any event, including all such Person&#146;s machinery and equipment, including processing
equipment, conveyors, machine tools, data processing and computer equipment including embedded software and peripheral equipment and all engineering, processing and manufacturing equipment, office machinery, furniture, materials handling equipment,
tools, attachments, accessories, automotive equipment, trailers, trucks, forklifts, molds, dies, stamps, motor vehicles, rolling stock and other equipment of every kind and nature, trade fixtures and fixtures not forming a part of real property,
together with all additions and accessions thereto, replacements therefor, all parts therefor, all substitutes for any of the foregoing, fuel therefor, and all manuals, drawings, instructions, warranties and rights with respect thereto, and all
products and proceeds thereof and condemnation awards and insurance proceeds with respect thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA</U> - the
Employee Retirement Income Security Act of 1974, as amended and in effect from time to time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA Affiliate</U> - any
Person which is treated as a single employer with the Borrowers under &#167;414(b), (c), (m)&nbsp;and (o)&nbsp;of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA Reportable Event</U> - a reportable event with respect to a Guaranteed Pension Plan within the meaning of &#167;4043
of ERISA and the regulations promulgated thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Event of Default</U> - as defined in<B> Section&nbsp;11</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Excluded Subsidiaries</U> &#150; the Persons listed on <U>Schedule 1.1(b)</U> hereto. For purposes of this Agreement, the
Excluded Subsidiaries shall be deemed to be Affiliates of the Loan Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Excluded Taxes</U>
-<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> any of the following taxes imposed on or with respect to any Agent or any Lender or required to be withheld or deducted from a payment to any Agent or any Lender, (a)</B></U>&nbsp;taxes,
levies, imposts, deductions, charges or withholdings, including interest, penalties or additions thereto, and all related liabilities, imposed on or measured by net income or net profits of the relevant Lender or Agent, capital
taxes<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>,</B></U> or franchise taxes imposed pursuant to the laws of Canada (including any province or territory thereof), the United States of America or by the jurisdiction under the laws of
which the Lender or Agent is organized, in which such person is resident for tax purposes<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>,</B></U> or in which the principal office or applicable lending office of such Lender or
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>such </B></U>Agent is located or in which it is otherwise deemed to be engaged in a trade or business for tax purposes <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>(other than
as a result of such Lender or Agent having executed,</B></U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under,
engaged in any transaction pursuant to, or enforced any Loan Document, or sold or assigned an interest in any Obligation or Loan Document) </B></U>or any subdivision thereof or therein,
[<STRIKE>and</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>(b)</B></U> any branch profits taxes imposed by the United States of America or any similar tax imposed by any jurisdiction on any Lender or
[<STRIKE>Agent</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>on any Agent, (c)&nbsp;any U.S. federal withholding tax imposed on amounts payable to or for the account of a Lender with respect to an applicable interest in the
Loans or Commitments pursuant to a law in effect on the date on which (i)&nbsp;such Lender acquires such interest in the Loans or Commitments (other than pursuant to an assignment request by the Borrower under Section&nbsp;3.11) or (ii)&nbsp;such
Lender changes its lending office, except in each case to the extent that, pursuant to Section&nbsp;5.8, amounts with respect to such Taxes were payable either to such Lender&#146;s assignor immediately before such Lender became a party hereto or to
such Lender immediately before it changed its lending office and (d)&nbsp;any U.S. federal withholding tax imposed under FATCA</B></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Exempt Deposit Accounts</U> - a depository account maintained by any of the Borrowers, the only contents of which may be
transfers from its operating account and actually used solely (a)&nbsp;for petty cash purposes; or (b)&nbsp;for payroll, payroll Taxes and deductions and other employee wages and benefit payments to or for the benefit of the Borrowers&#146; salaried
and hourly employees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Existing Credit Agreement</U> - as defined in the preamble hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Existing Lenders</U> - as defined in the preamble hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Existing Letters of Credit</U> - those Letters of Credit issued by the Issuing Banks and described on <B>Schedule 2.3.1</B>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Extraordinary Expenses</U> - all reasonable costs, expenses or advances that any Agent, any Co-Collateral Agent or any
Lender may incur, whether prior to or during an Insolvency Proceeding of a Loan Party, including those relating to (a)&nbsp;any audit, inspection, repossession, storage, repair, appraisal, insurance, manufacture, preparation or advertising for sale,
sale, collection, or other preservation of or realization upon any Collateral; (b)&nbsp;any action, arbitration or other proceeding (whether instituted by or against any Agent, any Lender, any Loan Party, any representative of creditors of a Loan
Party or any other Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability of any Agent&#146;s Liens with respect to any Collateral), Loan Documents or Obligations, including any lender liability
or other Claims; (c)&nbsp;the exercise, protection or enforcement of any rights or remedies of any Agent or any Lender in, or the monitoring of, any Insolvency Proceeding; (d)&nbsp;settlement or satisfaction of any taxes, charges or Liens with
respect to any Collateral; (e)&nbsp;any Enforcement Action; (f)&nbsp;negotiation and documentation of any amendment, modification, waiver, workout, restructuring or forbearance with respect to any Loan Documents or Obligations; or
(g)&nbsp;Protective Advances. Such costs, expenses and advances include transfer fees, taxes, storage fees, insurance costs, permit fees, utility reservation and standby fees, legal fees, appraisal fees, brokers&#146; fees and commissions,
auctioneers&#146; fees and commissions, accountants&#146; fees, environmental study fees, wages and salaries paid to employees of any Loan Party or independent contractors in liquidating any Collateral, and travel expenses. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>FATCA - Sections 1471 through 1474 of the Code, as of the date of
this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof.</B></U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Federal Funds Rate</U> - for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day;
<U>provided</U> that (a)&nbsp;if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b)&nbsp;if no
such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such
transactions as determined by the Administrative Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fee Letters</U> &#150; (a)&nbsp;the fee letter agreement dated
as of the Closing Date among the Administrative Agent, Bank of America, Wells Fargo Bank, National Association and the Borrowers, (b)&nbsp;the fee letter agreement dated as of the Closing Date between the Administrative Agent and the Borrowers and
(c)&nbsp;the fee letter dated as of the First Amendment Effective Date between the Administrative Agent and the Borrowers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Fifth Amendment - the Fifth Amendment to Second Amended and Restated
Revolving Credit and Security Agreement, dated as of November&nbsp;21, 2014 by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto, the Agents and the Co-Collateral Agents.</B></U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Fifth Amendment Effective Date - November&nbsp;21, 2014.</B></U>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>First Amendment</U> - the First Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated
as of August&nbsp;22, 2013 by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto, the Agents and the Co-Collateral Agents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>First Amendment Effective Date</U> - August&nbsp;22, 2013. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fiscal Quarter</U> - each of the three month periods ending on the last Saturday of each of March, June, September and
December of any year. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fiscal Year</U> - the twelve month period ending on the last Saturday of March of any year. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fixed Charge Coverage Ratio</U> - as at any date of determination, the ratio of (a)&nbsp;Consolidated EBITDA for the period
of four consecutive Fiscal Quarters ending on such date, <U>minus</U> payments made in cash during such period in respect of Capital Expenditures incurred during such period or any previous period (other than that portion of such Capital
Expenditures financed by lenders other than the Lenders hereunder), <U>minus</U> income taxes paid in cash with respect to such period to (b)&nbsp;Consolidated Fixed Charges for such period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fixtures</U> - as such term is defined in the UCC, now owned or hereafter acquired by any Loan Party located at a parcel of
Real Estate subject to a Mortgage. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>FLSA</U> - the Fair Labor Standards Act of
[<STRIKE>1938.</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>1938 and </B><B><I>An Act Respecting Labour Standards</I></B><B> (Quebec).</B></U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Foreign Lender</U> - with respect to any Borrower, a Lender to such Borrower that is organized under the laws of a
jurisdiction other than (i)&nbsp;a state of the United States or the District of Columbia, in the case of the US Borrower, or (ii)&nbsp;Canada or a province or territory thereof, or is otherwise not a Canadian Qualified Lender, in the case of the
Canadian Borrower. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fourth Amendment</U> - the Consent and Fourth Amendment to Second Amended and
Restated Revolving Credit and Security Agreement, dated as of July&nbsp;25, 2014 by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto, the Agents and the Co-Collateral Agents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fourth Amendment Effective Date</U> - July&nbsp;25, 2014. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Freight Taxes and Duties</U> - freight, Taxes and duties included in Inventory in accordance with GAAP. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fronting Exposure</U> - at any time there is a Defaulting Lender, (a)&nbsp;with respect to the Issuing Banks, such
Defaulting Lender&#146;s Pro Rata share of the outstanding Total LC Obligations other than Total LC Obligations as to which such Defaulting Lender&#146;s participation obligation has been reallocated to other Lenders or Cash Collateralized in
accordance with the terms hereof, and (b)&nbsp;with respect to the Administrative Agent and the Canadian Agent in their capacities as lenders of Swingline Loans, such Defaulting Lender&#146;s Pro Rata share of Swingline Loans other than Swingline
Loans as to which such Defaulting Lender&#146;s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>FSCO</U> - the Financial Services Commission of Ontario and any Person succeeding to the functions thereof and includes the
Superintendent under such statute and any other Governmental Authority empowered or created by the <I>Supplemental Pension Plans Act </I>(Qu&eacute;bec) or the <I>Pension Benefits Act </I>(Ontario) or any Governmental Authority of any other Canadian
jurisdiction exercising similar functions in respect of any Canadian Plan of any Loan Party or any Subsidiary or Affiliate of a Loan Party and any Governmental Authority succeeding to the functions thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Full Payment</U> - with respect to any Obligations, (a)&nbsp;the full and indefeasible cash payment thereof, including any
interest, fees and other charges accruing during an Insolvency Proceeding (whether or not allowed in the proceeding); (b)&nbsp;if such Obligations are US LC Obligations, Canadian LC Obligations or inchoate or contingent in nature, Cash
Collateralization thereof (or delivery of a standby letter of credit acceptable to the Applicable Agent in its discretion, in the amount of required Cash Collateral); and (c)&nbsp;a release of any Claims of the Loan Parties against the Agents, the
Co-Collateral Agents, the Lenders and the Issuing Banks arising on or before the payment date. No Loans shall be deemed to have been paid in full until all Commitments related to such Loans have expired or been terminated. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>GAAP</U> - generally accepted accounting principles in the United States in effect from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>General Intangibles</U> - as defined in the UCC, including choses in action, causes of action, company or other business
records, inventions, blueprints, designs, patents, patent applications, trademarks, trademark applications, trade names, trade secrets, service marks, goodwill, brand names, copyrights, registrations, licenses, franchises, customer lists, permits,
tax refund claims, computer programs, operational manuals, internet addresses and domain names, insurance refunds and premium rebates, all rights to indemnification, and all other intangible Property of any kind. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>General Security Agreement</U> - the Amended and Restated General Security Agreement by each Loan Party in favor of the
Canadian Agent, for the benefit of the Secured Parties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Goods</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Governmental Approvals</U> - all authorizations, consents, approvals, licenses and exemptions of, registrations and filings
with, and required reports to, all Governmental Authorities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Governmental Authority</U> - any federal, state,
provincial, territorial, municipal, foreign or other governmental department, agency, commission, board, bureau, court, tribunal, instrumentality, political subdivision, or other entity or officer exercising executive, legislative, judicial,
regulatory or administrative functions for or pertaining to any government or court, in each case whether associated with the United States, a state, district or territory thereof, Canada, a province or territory thereof, or a foreign entity or
government. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed Canadian Obligations</U> - as defined in <B>Section&nbsp;7.7.1(b)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed Obligations</U> - collectively, the Guaranteed Canadian Obligations and the Guaranteed US Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed Pension Plan</U> - any employee pension benefit plan within the meaning of &#167;3(2) of ERISA maintained or
contributed to by the Borrowers or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed US Obligations</U> - as defined in <B>Section&nbsp;7.7.1(a)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guarantors</U> - each Borrower as set forth in <B>Section&nbsp;7.7</B> and each Subsidiary of a Borrower that has executed a
Guaranty. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranty</U> - collectively, each guaranty of all or any portion of the Obligations executed by a Guarantor.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Hedging Agreement</U> - an agreement relating to any swap, cap, floor, collar, option, forward, cross right or
obligation, or combination thereof or similar transaction, with respect to interest rate, foreign exchange, currency, commodity, credit or equity risk. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Henry U.S.</U> - Henry Birks&nbsp;&amp; Sons U.S., Inc., a Delaware corporation, which effective as of July&nbsp;31, 2009
changed its name to Cash, Gold&nbsp;&amp; Silver USA, Inc. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Indemnified Taxes - (a)&nbsp;Taxes, other than Excluded Taxes,
imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b)&nbsp;to the extent not otherwise described in (a), Other Taxes.</B></U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Indemnitees</U> - the Agent Indemnitees, Lender Indemnitees, the Issuing Bank Indemnitees, the Bank of America Indemnitees,
the Co-Collateral Agent Indemnities and the Arranger Indemnitees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Insolvency Proceeding</U> - any case or proceeding
commenced by or against a Person under any state, provincial, territorial, federal or foreign law for, or any agreement of such Person to, (a)&nbsp;the entry of an order for relief under the Bankruptcy Code, any Canadian Debtor Relief Law, or any
other insolvency, debtor relief or debt adjustment law; (b)&nbsp;the appointment of a receiver, interim receiver, trustee, liquidator, administrator, conservator, monitor or other custodian for such Person or any part of its Property; or (c)&nbsp;an
assignment or trust mortgage for the benefit of creditors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Instrument</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intellectual Property</U> - all intellectual and similar Property of a Person, including inventions, designs, patents,
patent applications, copyrights, trademarks, service marks, trade names, trade secrets, confidential or proprietary information, customer lists, know-how, software and databases; all embodiments or fixations thereof and all related documentation,
registrations and franchises; all books and records describing or used in connection with the foregoing; and all licenses or other rights to use any of the foregoing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intellectual Property Claim</U> - any claim or assertion (whether in writing, by suit or otherwise) that any Loan
Party&#146;s or any Subsidiary&#146;s ownership, use, marketing, sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person&#146;s Intellectual Property. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intercompany Debt</U> &#150; unsecured Debt of any Loan Party owing to another Loan Party; <U>provided</U> that (i)&nbsp;all
such Debt shall be evidenced by promissory notes and all such notes shall be subject to a Lien in favor of the Applicable Agent pursuant to the Security Documents, (ii)&nbsp;all such Debt shall be unsecured and subordinated in right of payment to
the Full Payment of the Obligations pursuant to the terms of the applicable promissory notes or an intercompany subordination agreement that in each such case, is satisfactory to the Administrative Agent and the Required Lenders, and (iii)&nbsp;any
payment by any such Loan Party to any other Loan Party under any guaranty of the Obligations or otherwise shall result in a <I>pro tanto</I> reduction of the amount of any Debt owed by such Loan Party to such other Loan Party for whose benefit such
payment is made; <U>provided</U>, <U>further</U>, that under no circumstances shall any Debt owing by CGS Canada to any other Loan Party constitute Intercompany Debt hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intercreditor Agreement</U> [<STRIKE>-</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>&#150;
(a)&nbsp;at all times prior to the Fifth Amendment Effective Date,</B></U> the Amended and Restated Intercreditor Agreement dated as of the Closing Date, by and among the Agents, GB Credit Partners, LLC f/k/a GB Merchant Partners, LLC, as Term Loan
Agent, the Co-Collateral Agents (as such term is defined in the Term Loan Agreement), and acknowledged by each Loan Party, as amended by that certain First Amendment to Amended and Restated Intercreditor Agreement dated as of the First Amendment
Effective Date, by and among the Agents, Pathlight Capital, LLC, as successor to GB Credit Partners, LLC f/k/a GB Merchant Partners, LLC, as Term Loan Agent, the Co-Collateral Agents (as such term is defined in the Term Loan Agreement) and
acknowledged by each Loan Party, <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>and (b)&nbsp;at all times immediately after the Fifth Amendment Effective Date, the Second Amended and Restated Intercreditor Agreement dated as of the Fifth
Amendment Effective Date, by and among the Agents, Crystal Financial LLC, as Term Loan Agent and Collateral Agent (as such term is defined in the Term Loan Agreement), and acknowledged by each Loan Party, </B></U>as it may be further amended,
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>restated, amended and restated, </B></U>supplemented or otherwise modified from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Interest Coverage Ratio</U> - as at any date of determination, the ratio of (a)&nbsp;Consolidated EBITDA for the period of
four consecutive Fiscal Quarters ending on such date to (b)&nbsp;Consolidated Total Interest Expense for such period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Interest Period</U> - as defined in <B>Section&nbsp;3.1.3</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Inventory</U> - as defined in the UCC, including all goods intended for sale, lease, display or demonstration; all work in
process; and all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or furnishing of such goods, or otherwise used or
consumed in such Person&#146;s business (but excluding Equipment). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Inventory Reserves</U> - such reserves as may be established from time to time
by the Administrative Agent in the Administrative Agent&#146;s reasonable discretion with respect to the determination of shrink, the saleability, at retail, of the Eligible Inventory, decreases in cumulative mark-ups from historical or industry
norms, or which reflect such other factors as affect the market value of the Eligible Inventory. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Investment</U> - any
(a)&nbsp;acquisition of all or substantially all assets of, or any line of business or division of, a Person; (b)&nbsp;acquisition of record or beneficial ownership of any Capital Stock of a Person; (c)&nbsp;loan, advance or capital contribution to,
guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to
which the investor guarantees Debt of such other Person, or (d)&nbsp;other investment in a Person. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Investment
Property</U> - as defined in the UCC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Issuing Bank</U> - with respect to (a)&nbsp;the US Borrower, each of Bank of
America and Wells Fargo Bank, National Association, in its capacity as issuer of Letters of Credit for the account or benefit of the US Borrower hereunder and, (b)&nbsp;the Canadian Borrower, each of Bank of America-Canada Branch and Wells Fargo
Foothill Canada ULC, in its capacity as issuer of Letters of Credit for the account or benefit of the Canadian Borrower hereunder or, in each case, any permitted successor issuer of Letters of Credit hereunder and (c)&nbsp;such other financial
institution designated in writing by the Administrative Agent in its reasonable discretion to issue one or more Letters of Credit hereunder for the Borrowers&#146; account. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Issuing Bank Indemnitees</U> - the Issuing Banks and their officers, directors, employees, Affiliates, branches, agents,
advisors and attorneys. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ITA</U> &#150; the <I>Income Tax Act</I> (Canada), as the same may be amended from time to
time, and any regulation promulgated thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Joint Venture</U> - a joint venture, partnership or other similar
arrangement, whether in corporate, partnership or other legal form; <U>provided</U> that in no event shall any Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Application</U> - an application by a Borrower to an Issuing Bank for issuance of a Letter of Credit, in form and
substance reasonably satisfactory to such Issuing Bank. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Documents</U> - all documents, instruments and agreements
(including LC Requests and LC Applications) delivered by the Borrowers or any other Person to an Issuing Bank or Agents in connection with issuance, amendment or renewal of, or payment under, any Letter of Credit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Event of Default</U> - means (a)&nbsp;the liquidation of a substantial portion of the Collateral has occurred,
(b)&nbsp;any action by any Loan Party or any of their respective officers, directors, employees, affiliates, parent companies, agents or representatives has impeded the exercise of remedies of the Agents after an Event of Default or has impaired the
value of the Collateral, (c)&nbsp;any information contained in any Borrowing Base Certificate was untrue or incorrect in any material respect when made, (d)&nbsp;any Loan Party has failed to comply with <U>Section&nbsp;7.2</U> (&#147;Deposit
Accounts; Cash </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Collateral; Credit Card Agreements&#148;) hereof, (e)&nbsp;an Event of Default (and for the avoidance of doubt, other than pursuant to <U>Section&nbsp;7.2</U>, <U>Section&nbsp;11.1(b)(i)</U>
(solely as it relates to a Borrowing Base Certificate), or <U>Section&nbsp;11.1(j)</U> hereof) continues to exist four (4)&nbsp;months after its initial occurrence; (f)&nbsp;an Event of Default pursuant to <U>Section&nbsp;11.1(j)</U> hereof has
occurred; (g)&nbsp;a proceeding or case under the Bankruptcy Code or any Canadian Debtor Relief Law has been commenced by or against any Loan Party, (h)&nbsp;a Montrovest LC Event has occurred or (i)&nbsp;the Montrovest LC Issuer fails to maintain a
credit rating of at least &#147;A-&#148; by S&amp;P or &#147;A3&#148; by Moody&#146;s. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Guaranty</U> - a guaranty
issued by an Issuing Bank to another Person in connection with the issuance by such other Person of Letters of Credit hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Request</U> - a request for issuance of a Letter of Credit, to be provided by a Borrower to an Issuing Bank, in form
reasonably satisfactory to the Applicable Agent and such Issuing Bank. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Leasing Obligations</U> - all obligations of the
Loan Parties to the Secured Parties and any of their Affiliates or branches under a leasing arrangement for furniture, fixtures and equipment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lender Indemnitees</U> - the Lenders and their officers, directors, employees, Affiliates, branches, agents, advisors and
attorneys. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lenders</U> - as defined in the preamble to this Agreement, including the US Lenders, the Canadian Lenders,
each Agent in its capacity as a provider of Swingline Loans, the Issuing Banks (unless the context otherwise requires) and any other Person who hereafter becomes a &#147;Lender&#148; pursuant to the terms hereof. For the purposes of the Other
Agreements and the Security Documents, &#147;Lenders&#148; means and is deemed to include the Secured Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Letter
of Credit</U> - any standby or documentary letter of credit (including the Existing Letters of Credit ) issued by an Issuing Bank for the account or benefit of a Borrower, or any indemnity, guarantee, exposure transmittal memorandum or similar form
of credit support issued by the Applicable Agent or an Issuing Bank for the benefit of a Borrower. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Letter of Credit
Fees</U> - collectively, the Documentary Letter of Credit Fees and the Standby Letter of Credit Fees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Letter-of-Credit
Right</U> - as defined in the UCC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Letter of Credit Subline</U> - $30,000,000. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LIBOR Loan</U> - a Revolver Loan that bears interest at Adjusted LIBOR. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>License</U> - any license or agreement under which a Loan Party is authorized to use Intellectual Property in connection
with any manufacture, marketing, distribution or disposition of Collateral, any use of Property or any other conduct of its business. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Licensor</U> - any Person from whom a Loan Party obtains the right to use any Intellectual Property. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien</U> - any Person&#146;s interest in Property securing an obligation owed to, or a claim by, such Person, whether such
interest is based on common law, statute or contract, including liens, security interests, pledges, hypothecations, prior claims, rights of retention, statutory trusts, deemed trusts, reservations, exceptions, encroachments, easements, servitudes,
rights-of-way, covenants, conditions, restrictions, leases, leasings, conditional sales and other title exceptions and encumbrances affecting Property. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien Priority Agreement</U> - an agreement, in form and substance reasonably
satisfactory to the Applicable Agent and the Co-Collateral Agents, in respect of any Collateral located in the province of Qu&eacute;bec, Canada on premises owned by a Person that is not a Loan Party (the &#147;Owner&#148;), to which a Loan Party
has granted a hypothec to the Owner, which agreement shall provide, without limitation, that the Owner waives or subordinates or cedes priority of preference and rank in any Lien it may have on any part of the Collateral in favor of the Applicable
Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien Waiver</U> - an agreement, in form and substance reasonably satisfactory to the Applicable Agent and the
Co-Collateral Agents, by which (a)&nbsp;for any Collateral located on a leased or mortgaged premises, the lessor or mortgagee waives or subordinates any Lien it may have on the Collateral, and agrees to permit such Agent to gain access to and enter
upon the premises and remove the Collateral or to use the premises to store or dispose of the Collateral; (b)&nbsp;for any Collateral held by a warehouseman, processor, shipper, customs broker or freight forwarder, such Person waives or subordinates
any Lien it may have on the Collateral, agrees to hold any Documents in its possession relating to the Collateral as agent for the Applicable Agent, agrees to permit such Agent to gain access to and enter upon the premises and remove the Collateral
or to use the premises to store or dispose of the Collateral and/or agrees to deliver the Collateral to such Agent upon request; (c)&nbsp;for any Collateral held by a repairman, mechanic or bailee, such Person acknowledges the Applicable
Agent&#146;s Lien, waives or subordinates any Lien it may have on the Collateral, and agrees to deliver the Collateral to such Agent upon request; and (d)&nbsp;for any Collateral subject to a Licensor&#146;s Intellectual Property rights, the
Licensor grants to the Applicable Agent the right, vis-&agrave;-vis such Licensor, to enforce such Agent&#146;s Liens with respect to the Collateral, including the right to dispose of it with the benefit of the Intellectual Property, whether or not
a default exists under any applicable License, in each case, to the extent permitted by Applicable Law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan</U> - a US
Revolver Loan or a Canadian Revolver Loan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Account</U> - the loan account established by each Lender on its books
pursuant to <B>Section&nbsp;5.7</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Documents</U> - this Agreement, the Other Agreements and the Security
Documents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Party</U> - each Borrower and each Guarantor. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan to Value Reserve</U><B> </B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>-</B> </U>as of the date of
determination by the Administrative Agent, from time to time an amount equal to the greater of (a)&nbsp;$0; and (b)&nbsp;the amount, if any, by which the outstanding amount of the Term Loans at such time exceeds the Dollar Equivalent of
(i)&nbsp;23.5% of the Appraised Inventory Liquidation Value of each Eligible Inventory Category owned by the Borrowers, Henry U.S. and Mayor&#146;s Florida at such time <U>plus</U> (ii)&nbsp;12.5% of the Appraised A/R Liquidation Value of Eligible
Private Label and Corporate Accounts of the Borrowers, Henry U.S., Mayor&#146;s Florida and CGS Canada at such time <U>plus</U> (iii)&nbsp;12.5% of Eligible Major Credit Card Receivables of a Borrower, Henry U.S. or Mayor&#146;s Florida at such
time<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> <B>plus (iv)&nbsp;100% of the then stated amount of the Eligible Letter of Credit</B></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Agreement</U> - that certain Amended and Restated Management Consulting Services Agreement, dated as of
June&nbsp;8, 2011, between the Canadian Borrower and Montrovest B.V., as such agreement may be amended from time to time in accordance with the terms hereof and the Management Subordination Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Debt</U> - collectively, all obligations (including, without
limitation, retainer fees and indemnification expenses) of the Borrowers to Montrovest B.V. pursuant to the Management Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Subordination Agreement</U> - that certain Amended and Restated Management Subordination Agreement dated as of
the Closing Date among the Canadian Borrower, Montrovest B.V., the Agents and the Term Loan Agent<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>, as amended by the First Amendment to Amended and Restated Management Subordinated Agreement
dated as of June&nbsp;10, 2014, as the same may hereafter be further amended, restated, supplemented or otherwise modified with the consent of the Agents</B></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Margin Stock</U> - as defined in Regulation U of the Board of Governors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Material Adverse Effect</U> - the effect of any event or circumstance that, taken alone or in conjunction with other events
or circumstances, has or could be reasonably expected to have a material adverse effect on: (a)&nbsp;the business, operations, liabilities (actual or contingent), Properties, or condition (financial or otherwise) of the Loan Parties considered as a
whole, or the value of the Collateral, taken as a whole, the enforceability of any Loan Documents, or on the validity or priority of the Applicable Agent&#146;s Liens on any Collateral; (b)&nbsp;the ability of the Loan Parties taken as a whole to
perform any obligations under the Loan Documents, including repayment of any Obligations; (c)&nbsp;the rights and remedies of the Agents or the Lenders under the Loan Documents or the ability of any Agent or any Lender to enforce or collect the
Obligations or to realize upon the Collateral or (d)&nbsp;the legality, validity, binding effect or enforceability of any Loan Document against any Loan Parties which is a party to such Loan Document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Material Contract</U> - any agreement or arrangement to which any Loan Party or any of its Subsidiaries is party (other than
the Loan Documents) (a)&nbsp;for which breach, termination, nonperformance or failure to renew could reasonably be expected to have a Material Adverse Effect or (b)&nbsp;that relates to Debt in an aggregate amount of the Dollar Equivalent of
$2,500,000 or more. Notwithstanding anything to the contrary contained in this Agreement, the term &#147;Material Contract&#148; shall include, for all purposes, each of the following: (i)&nbsp;the Term Loan Documents (and any refinancings, renewals
or extensions thereof), (ii)&nbsp;the Quebec Subordinated Debt Documents, (iii)&nbsp;the Rolex Documents, (iv)&nbsp;the Montrovest Debt Documents, (v)&nbsp;the Damiani Debt Documents and (vi)&nbsp;any Additional Subordinated Debt Documents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Mayor&#146;s</U> - Mayor&#146;s Jewelers, Inc., a Delaware corporation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Mayor&#146;s Florida</U> - Mayor&#146;s Jewelers of Florida, Inc., a Florida corporation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Debt</U> - all Debt owing to Montrovest B.V. under the Montrovest Debt Documents and permitted pursuant to
<B>Sections 10.2.1(j)</B> and <B>(l)</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Debt Documents</U> - collectively, (i)&nbsp;Amended and Restated
Cash Advance Agreement dated as of June&nbsp;8, 2011 by and between the Canadian Borrower and Montrovest B.V., (ii)&nbsp;the Amended and Restated Cash Advance Agreement dated as of June&nbsp;8, 2011 by and between the Canadian Borrower and
Montrovest B.V., (iii)&nbsp;the Subscription Agreement dated on or about August&nbsp;12, 2013 by and between the Canadian Borrower and Montrovest B.V., (iv)&nbsp;the Convertible Debenture to be dated on or about August&nbsp;16, 2013 in the principal
sum of $4,800,000 executed and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
delivered by the Canadian Borrower in favor of Montrovest B.V., and (v)&nbsp;any other loan agreement entered into by and between the Canadian Borrower and Montrovest B.V.; provided that any such
other loan agreement shall be subject to a Subordination Agreement in form, scope and substance satisfactory to the Agents and the Required Lenders. For clarity, all obligations of the Borrowers to Montrovest B.V. as a result of the issuance of, or
drawing under, the Montrovest LC shall be deemed to constitute Montrovest Debt Documents, subject to the Montrovest Subordination Agreement with the exception of the fee of $125,000 payable by the Borrowers in connection with the execution and
delivery of the Montrovest LC. The Borrowers shall cause Montrovest B.V. to provide the Agents satisfactory evidence that the issuance fees payable to the Montrovest LC Issuer are at least equal to $125,000. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC</U> - the irrevocable standby letter of credit (No. WALI-A06158-1MON), provided by, and duly executed and
delivered by, the Montrovest LC Issuer in the amount of $5,000,000, for the benefit of the Agents (subject to the Intercreditor Agreement), dated as of June&nbsp;6, 2014, in form and substance and on terms satisfactory to the Agents (including,
without limitation, a provision permitting the Agents to draw such Montrovest LC on the occurrence of an LC Event of Default), as may be amended, restated, supplemented or otherwise modified with the consent of the Agents and the Term Loan
Agent[<STRIKE>, including, but not limited to, pursuant to </STRIKE><strike><u>Section 10.1.26</u></strike><STRIKE>.</STRIKE>]<U>[</U><strike><u>Montrovest LC Effective Advance Rate</u></strike><STRIKE> - (a)&nbsp;from the Third Amendment Effective
Date through and including August&nbsp;31, 2014, 100%, (b)&nbsp;so long as the Additional Availability has not been received, on the first calendar day of each calendar month following August&nbsp;31, 2014, the Montrovest LC Effective Advance Rate
shall be deemed reduced by two and one half percentage points from the Montrovest LC Effective Advance Rate in effect during the prior calendar month and (c)&nbsp;commencing upon the receipt of the Additional Availability, the Montrovest LC
Effective Advance Rate shall be 100%</STRIKE><U>]</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC Event</U> - at any time: (a)&nbsp;the Montrovest
LC is disaffirmed, disclaimed, repudiated, rejected, cancelled or otherwise terminated, in whole or in part, or the validity of, the Montrovest LC is challenged; (b)&nbsp;the Montrovest LC fails or ceases to be in full force and effect; (c)&nbsp;the
Montrovest LC fails to remain legal, valid, binding and enforceable in accordance with its terms; (d)&nbsp;the failure of the Montrovest LC Issuer to renew the Montrovest LC at least sixty (60)&nbsp;days prior to its expiry; (e)&nbsp;the Montrovest
LC fails to remain irrevocable; (f)&nbsp;the Montrovest LC is amended or modified without the consent of the Agents; or (g)&nbsp;the imposition of any Lien on the Montrovest LC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC Issuer</U> - UBS AG, Stamford Branch. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Subordination Agreement</U> &#150; collectively, (i)&nbsp;Section&nbsp;5.6 of the Montrovest Debt Documents
referred to in clauses (i)&nbsp;and (ii)&nbsp;of the definition of &#147;Montrovest Debt Documents&#148;, (ii)&nbsp;the Amended and Restated Postponement and Subordination Agreement, dated as of the Closing Date, among the Canadian Borrower,
Montrovest B.V., the Administrative Agent, the Canadian Agent and the Term Loan Agent, <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>as amended by the First Amendment to Amended and Restated Postponement and Subordination Agreement
dated as of June&nbsp;10, 2014, </B></U>and (iii)&nbsp;Section&nbsp;3.1 of the Montrovest Debt Document referred to in clause (iv)&nbsp;of the definition of &#147;Montrovest Debt Documents&#148;, in each case as hereafter amended, restated,
supplemented or otherwise modified with the consent of the Agents and the Required Lenders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Moody&#146;s</U> -
Moody&#146;s Investors Service, Inc., and its successors. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Mortgage</U> - each mortgage, deed of trust, deed of
hypothec, or deed to secure debt pursuant to which a Loan Party grants to the Applicable Agent, for the benefit of the Secured Parties, Liens upon the Real Estate interests (fee, leasehold or otherwise) then held by any Loan Party, as security for
the Obligations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Multiemployer Plan</U> - any multiemployer plan within the meaning of
&#167;3(37) of ERISA maintained or contributed to by the Borrowers or any ERISA Affiliate and subject to Title IV of ERISA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Non-Canadian Loan Party</U> - any Loan Party that is not a Canadian Loan Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Non-Extension Notice Date</U> - as defined in <B>Section&nbsp;2.3.1(g)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Non-Reinstatement Deadline</U> - as defined in<B> Section&nbsp;2.3.1(h)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Notes</U> - each US Revolver Note, Canadian Revolver Note or other promissory note executed by a Borrower to evidence any
Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Notice of Borrowing</U> - a Notice of Borrowing to be provided by a Borrower to request the funding of a
Borrowing of Loans, in form reasonably satisfactory to the Applicable Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Notice of Conversion/Continuation</U> - a
Notice of Conversion/Continuation to be provided by a Borrower to request a conversion or continuation of any Loans as LIBOR Loans or Canadian BA Rate Loans, as applicable, in form satisfactory to the Applicable Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Obligations</U> - all (a)&nbsp;principal of and premium, if any, on the Loans, (b)&nbsp;US LC Obligations, Canadian LC
Obligations and other obligations of the Loan Parties with respect to Letters of Credit, (c)&nbsp;interest, expenses, fees and other sums payable by the Loan Parties under the Loan Documents, (d)&nbsp;obligations of the Loan Parties under any
indemnity for Claims, (e)&nbsp;Extraordinary Expenses, (f)&nbsp;Bank Product Debt, and (g)&nbsp;other Debts, obligations and liabilities of any kind owing by the Loan Parties pursuant to the Loan Documents, in each case, whether now existing or
hereafter arising, whether evidenced by a note or other writing, whether or not allowed in any Insolvency Proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan, guaranty, indemnification or
otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, or joint or several. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">OFAC - The Office of Foreign Assets Control of the U.S. Department
of the Treasury.</U></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Ordinary Course of Business</U> - the ordinary course of business of the Borrowers, the
Guarantors or any of their Subsidiaries, consistent with past practices and undertaken in good faith. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Organizational
Documents</U> - with respect to any Person, its charter, certificate or articles of incorporation, bylaws, articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership agreement,
certificate of partnership, certificate of formation, voting trust agreement, or similar agreement or instrument governing the formation, organization or operation of such Person. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>OSHA</U> - the Occupational Safety and Hazard Act of 1970. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Other Agreements</U> - each Note, LC Document, LC Guaranty, Fee Letter, Intercreditor Agreement, Subordination Agreement,
Related Real Estate Document, Borrowing Base Certificate, Compliance Certificate, the Montrovest LC, Post-Closing Agreement, Co-Collateral </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Agent Rights Agreement, financial statement or report delivered hereunder, together with each other document, instrument or agreement (other than this Agreement or a Security Document) now or
hereafter delivered by a Loan Party or other Person to an Agent or a Lender in connection with any transactions relating hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Overadvance Loan</U> - a (a)&nbsp;Base Rate Loan made to the US Borrower, or the issuance, extension or amendment of a
Letter of Credit to the US Borrower, when a US Revolver Overadvance exists or is caused by such credit extension or (b)&nbsp;Canadian Prime Rate Loan or Base Rate Loan made to the Canadian Borrower, or the issuance, extension or amendment of a
Letter of Credit to the Canadian Borrower, when a Canadian Revolver Overadvance exists or is caused by such credit extension. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Other Taxes - all present or future stamp, or documentary taxes or
any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan
Document.</U></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Participant</U> <FONT STYLE="white-space:nowrap">-</FONT> as defined in <B>Section&nbsp;13.5</B>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Patriot Act</U> - the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001, Pub. L. No.&nbsp;107-56, 115 Stat. 272 (2001). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Patent Security Agreement</U> - the
Patent Collateral Assignment and Security Agreement among the Loan Parties and the Administrative Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Payment
Intangible</U> - as defined in the UCC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Payment Item</U> &#150; cash and each check, draft, credit card slip, receipt,
note, instrument and any other item of payment payable to a Borrower, including those constituting proceeds of any Collateral. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>PBGC</U> - the Pension Benefit Guaranty Corporation created by Section&nbsp;4002 of ERISA and any successor entity or
entities having similar responsibilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Pension Funding Rules</U> - the rules of the Code and ERISA regarding minimum
required contributions (including any installment payment thereof) to Guaranteed Pension Plans and set forth in, with respect to plan years ending prior to the effective date as to such Guaranteed Pension Plan of the Pension Protection Act of 2006,
&#167;412 of the Code and &#167;302 of ERISA each as in effect prior to the Pension Protection Act of 2006 and, thereafter, &#167;412 and &#167;430 of the Code and &#167;302 and &#167;303 of ERISA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Permitted Lien</U> - as defined in <B>Section&nbsp;10.2.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Permitted Store Closings</U> - the closing of (a)&nbsp;five (5)&nbsp;retail locations of the Loan Parties in the aggregate
in any calendar year, (b)&nbsp;five (5)&nbsp;temporary retail locations, to the extent opened by the Loan Parties and closed within six (6)&nbsp;months of such opening, in the aggregate in any calendar year and (c)&nbsp;the retail locations listed
on <B>Schedule 1.1(c)</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Person</U> - any individual, corporation, limited or unlimited liability
company, partnership, joint venture, joint stock company, land trust, business trust, unincorporated organization, Governmental Authority or other entity. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Post-Closing Agreement</U> - that certain Post-Closing Agreement dated as of the Closing Date and entered into by and among
the Loan Parties and the Agents, in form, scope and substance satisfactory to the Administrative Agent and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>PPSA</U> - the <I>Personal Property Security Act</I> (Ontario) (or any successor statute) or similar legislation of any
other Canadian jurisdiction, including, without limitation, the Civil Code of Qu&eacute;bec, the laws of which are required by such legislation to be applied in connection with the issue, perfection, enforcement, opposability, enforceability,
validity or effect of security interests or hypothecs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Prior Week</U> - as of any date of determination, the
immediately preceding week ended on a Saturday and commencing on the prior Sunday. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Private Label Accounts</U> -
Accounts due on the Borrowers&#146; private label credit card programs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Properly Contested</U> - with respect to any
obligation of any Loan Party, (a)&nbsp;the obligation is subject to a bona fide dispute regarding amount or such Loan Party&#146;s liability to pay; (b)&nbsp;the obligation is being properly contested in good faith by appropriate proceedings
promptly instituted and diligently pursued; (c)&nbsp;appropriate reserves have been established in accordance with GAAP; (d)&nbsp;no Lien is imposed on assets of such Loan Party, unless bonded and stayed to the satisfaction of the Agents; and
(f)&nbsp;if the obligation results from entry of a judgment or other order, such judgment or order is stayed pending appeal or other judicial review. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Property</U> - any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Pro Rata</U> &#150; (a)&nbsp;with respect to any US Lender, a percentage (expressed as a decimal, rounded to the fourth
decimal place) determined (i)&nbsp;while the US Revolver Commitments are outstanding, by dividing the amount of such US Lender&#146;s US Revolver Commitment by the aggregate amount of all US Revolver Commitments; and (ii)&nbsp;at any other time, by
dividing the amount of such US Lender&#146;s US Revolver Loans and US LC Obligations by the aggregate amount of all outstanding US Revolver Loans and US LC Obligations, and (b)&nbsp;with respect to any Canadian Lender, a percentage (expressed as a
decimal, rounded to the fourth decimal place) determined (i)&nbsp;while the Canadian Revolver Commitments are outstanding, by dividing the amount of such Canadian Lender&#146;s Canadian Revolver Commitment by the aggregate amount of all Canadian
Revolver Commitments; and (ii)&nbsp;at any other time, by dividing the amount of such Canadian Lender&#146;s Canadian Revolver Loans and Canadian LC Obligations by the aggregate amount of all outstanding Canadian Revolver Loans and Canadian LC
Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Protective Advances</U> - as defined in <B>Section&nbsp;2.1.4</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordinated Debt</U> - collectively, (i)&nbsp;all Debt owing to Investissement Qu&eacute;bec (successor in interest
to La Financi&egrave;re du Qu&eacute;bec by virtue of decree 315-2004) under the Quebec Subordinated Debt Documents in the original aggregate maximum principal amount of Cdn.
$[<STRIKE>17,900,000,</STRIKE>]<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">19,900,000,</U></B> of which a balance in the aggregate principal amount not to exceed Cdn.
$[<STRIKE>7,100,000</STRIKE>]<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">11,375,000</U></B> remains outstanding as of the [<STRIKE>First</STRIKE>]<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Fifth</U></B> Amendment
Effective Date, and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
subject to the Quebec Subordination Agreements and (ii)&nbsp;all other Debt owing to Investissement Qu&eacute;bec under the Quebec Subordinated Debt Documents or otherwise, in each case, which
Debt shall be expressly subordinate to Full Payment of the Obligations pursuant to the Quebec Subordination Agreements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordinated Debt Documents</U> - collectively, (i)&nbsp;that certain <I>Offre de Pr&ecirc;t</I> (Loan Offer) from
Investissement Qu&eacute;bec to the Canadian Borrower on October&nbsp;6, 2008, in respect of a term loan in the original maximum principal amount of Cdn. $2,900,000, and all security and other accessory documents or instruments thereto at any time,
and subject at all times to the Quebec Subordination Agreements, (ii)&nbsp;that certain <I>Offre de Pr&ecirc;t</I> (Loan Offer) from Investissement Qu&eacute;bec to the Canadian Borrower on February&nbsp;20, 2009, in respect of a term loan in the
original maximum principal amount of Cdn. $10,000,000, and all security and other accessory documents or instruments thereto at any time, and subject at all times to the Quebec Subordination Agreements, [<STRIKE>and
</STRIKE>](iii<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>)</B><B> that certain Offre de Pr&ecirc;t (Loan Offer) from Investissement Qu&eacute;bec to the Canadian Borrower on August&nbsp;30, 2013, in respect of a term loan in the
original maximum principal amount of Cdn. $5,000,000, and all security and other accessory documents or instruments thereto at any time, and subject at all times to the Quebec Subordination Agreements, (iv)&nbsp;that certain Offre de Pr&ecirc;t
(Loan Offer) from Investissement Qu&eacute;bec to the Canadian Borrower on July&nbsp;25, 2014, in respect of a term loan in the original maximum principal amount of Cdn. $2,000,000, and all security and other accessory documents or instruments
thereto at any time, and subject at all times to the Quebec Subordination Agreements and (v</B></U>)&nbsp;all other agreements, documents and instruments evidencing all or any portion of the Quebec Subordinated Debt, and subject at all times to the
Quebec Subordination Agreements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordination Agreements</U> - collectively, (i)&nbsp;that certain Cession de
Rang (Subordination) dated as of April&nbsp;27, 2006, by Investissement Qu&eacute;bec in favor of the Canadian Agent, (ii)&nbsp;that certain Subordination and Postponement Agreement dated as of February&nbsp;19, 2009, by and among Investissement
Qu&eacute;bec, the Canadian Agent, the Term Loan Agent and the Canadian Borrower, (iii)&nbsp;that certain Cession de Rang (Subordination) dated as of March&nbsp;5, 2009, by and among Investissement Qu&eacute;bec, the Canadian Agent, the Term Loan
Agent and the Canadian Borrower and (iv)&nbsp;any other subordination agreement entered into by Investissement Qu&eacute;bec in favor of the Canadian Agent in form and substance acceptable to the Canadian Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>RCRA</U> - the Resource Conservation and Recovery Act (42 U.S.C. &#167;&#167; 6991-6991i). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Real Estate</U> - all right, title and interest (whether as owner, lessor or lessee) in any real Property or any buildings,
structures, parking areas or other improvements thereon. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Recapitalization Transaction</U> - a permanent financing or
equity infusion and/or restructuring, in each case acceptable to the Agents<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">. For the avoidance of doubt, the amendment and restatement of the Term Loan Agreement on the Fifth Amendment
Effective Date shall not constitute or be deemed to be a &#147;Recapitalization Transaction&#148;</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Register</U>
- as defined in <B>Section&nbsp;13.4</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Reimbursement Date</U> - as defined in <B>Section&nbsp;2.3.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Related Parties</U> - with respect to any Person, such Person&#146;s Affiliates and branches and the partners, directors,
officers, employees, agents and advisors of such Person and of such Person&#146;s Affiliates and branches. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Related Real Estate Documents</U> - with respect to any Real Estate subject to
a Mortgage entered into by any Loan Party, the following, in form and substance reasonably satisfactory to the Applicable Agent and the Co-Collateral Agents and, in the case of a Mortgage entered into by any Loan Party after the date hereof,
received by the Administrative Agent for review at least 15 days prior to the effective date of the Mortgage (or such shorter length of time acceptable to the Administrative Agent in its reasonable discretion): (a)&nbsp;a mortgagee title policy (or
binder therefor) covering the Applicable Agent&#146;s interest under the Mortgage, in a form and amount and by an insurer reasonably acceptable to the Applicable Agent and the Co-Collateral Agents, which must be fully paid on such effective date;
(b)&nbsp;such assignments of leases, rents, estoppel letters, attornment agreements, consents, waivers and releases as the Administrative Agent or any Co-Collateral Agent may require with respect to other Persons having an interest in the Real
Estate; (c)&nbsp;if otherwise in the possession of a Loan Party, a current, as-built survey of the Real Estate, containing a metes-and-bounds property description and flood plain certification, and certified by a licensed surveyor reasonably
acceptable to the Administrative Agent and the Co-Collateral Agents; (d)&nbsp;flood insurance in an amount, with endorsements and by an insurer reasonably acceptable to the Applicable Agent and the Co-Collateral Agents, if the Real Estate is within
a flood plain; (e)&nbsp;a current appraisal of the Real Estate, prepared by an appraiser reasonably acceptable to the Applicable Agent; (f)&nbsp;a Phase I (and to the extent appropriate, Phase II) environmental assessment report, prepared by an
environmental consulting firm reasonably satisfactory to the Applicable Agent, and accompanied by such reports, certificates, studies or data as the Applicable Agent or any Co-Collateral Agent may reasonably require, which shall all be in form and
substance reasonably satisfactory to the Applicable Agent and the Co-Collateral Agents; and (g)&nbsp;an Environmental Agreement and such other documents, instruments or agreements as the Applicable Agent or any Co-Collateral Agent may reasonably
require with respect to any environmental risks regarding the Real Estate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rent and Charges Reserve</U> - the aggregate
of (a)&nbsp;all past due rent and other amounts owing by a Loan Party to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person who possesses any Collateral or could assert a Lien on any Collateral;
(b)&nbsp;in the case of Inventory located at a leased premise for which a Lien Waiver has not been executed, an amount equal to up to two (2)&nbsp;months&#146; rent, (c)&nbsp;in the case of Inventory located at premises located in the province of
Qu&eacute;bec, Canada for which a Lien Waiver or Lien Priority Agreement has not been executed, an Availability Reserve reasonably determined by the Administrative Agent as its good faith estimate of claims in respect of registered hypothecs that
have priority over the Lien of the Applicable Agent in any of the Collateral shall have been established with respect thereto; and (d)&nbsp;in the case of Inventory located, stored, used or held at the premises of a third party for which a Lien
Waiver has not been executed, an amount equal to up to two (2)&nbsp;months&#146; rent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Report</U> - as defined in
<B>Section&nbsp;12.2.3</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Required Canadian Lenders</U> - as of any date, so long as there are at least two Canadian
Lenders, at least two Canadian Lenders (subject to <B>Section&nbsp;4.2</B>) whose aggregate Canadian Revolver Commitments constitute at least fifty-one percent (51%)&nbsp;of the sum of the Canadian Revolver Commitments, and if the Canadian Revolver
Commitments have been terminated, so long as there are at least two Canadian Lenders, at least two Canadian Lenders (subject to <B>Section&nbsp;4.2</B>) holding at least fifty-one percent (51%)&nbsp;of the outstanding principal amount of the
Canadian Revolver Loans and Canadian LC Obligations on such date; <U>provided</U> that the Canadian Revolver Commitments of, and the portion of the Canadian Revolver Loans and Canadian LC Obligations held or deemed held by any Defaulting Lender
shall be excluded for purposes of making a determination of Required Canadian Lenders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Required Lenders</U> - as of any date, the Required Canadian Lenders and the
Required US Lenders; <U>provided</U> that, subject to <B>Section&nbsp;4.2, </B>if (a)&nbsp;Bank of America (which, for the purposes of this definition, shall include its branches and Affiliates) holds at least 37.5% of the sum of the Total Revolver
Commitments, or if the Total Revolver Commitments have been terminated, holds at least 37.5% of the outstanding principal amount of the Total Revolver Outstandings, then Bank of America shall be a Required Lender and (b)&nbsp;Wells Fargo Bank,
National Association (which, for the purposes of this definition, shall include its branches and Affiliates) holds at least 37.5% of the sum of the Total Revolver Commitments, or if the Total Revolver Commitments have been terminated, holds at least
37.5% of the outstanding principal amount of the Total Revolver Outstandings, then Wells Fargo Bank, National Association shall be a Required Lender. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Required Milestones</U> - as defined in the Fourth Amendment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Required US Lenders</U> - as of any date, so long as there are at least two Required US Lenders, at least two US Lenders
(subject to <B>Section&nbsp;4.2</B>) whose aggregate US Revolver Commitments constitute at least fifty-one percent (51%)&nbsp;of the sum of the US Revolver Commitments, and if the US Revolver Commitments have been terminated, so long as there are at
least two Required US Lender, at least two US Lenders (subject to <B>Section&nbsp;4.2</B>) holding at least fifty-one percent (51%)&nbsp;of the outstanding principal amount of the US Revolver Loans and US LC Obligations on such date; <U>provided</U>
that the US Revolver Commitments of, and the portion of the US Revolver Loans and US LC Obligations held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Required US Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Restricted Junior Payment</U> - (i)&nbsp;any dividend or other distribution, direct or indirect, on account of any shares of
any class of Capital Stock of the Borrowers or any Subsidiary now or hereafter outstanding, except a dividend payable solely in shares of that class of Capital Stock to the holders of that class; (ii)&nbsp;any redemption, retirement, sinking fund or
similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of the Borrowers or any Subsidiary now or hereafter outstanding; (iii)&nbsp;any payment made to retire, or to obtain the
surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Capital Stock of the Borrowers now or hereafter outstanding; (iv)&nbsp;any payment or prepayment of Debt by the Loan Parties or their Subsidiaries to
any Excluded Subsidiary; (v)&nbsp;any payment or prepayment of Debt by the Loan Parties or their Subsidiaries to the Loan Parties&#146; or any Subsidiary&#146;s shareholders (or other equity holders); (vi)&nbsp;derivatives or other transactions with
any financial institution, commodities or stock exchange or clearinghouse (a &#147;<U>Derivatives Counterparty</U>&#148;) obligating the Borrowers or any Subsidiary to make payments to such Derivatives Counterparty as a result of any change in
market value of any Capital Stock of the Borrowers or such Subsidiary; or (vii)&nbsp;any payments on account of management, consulting or similar fees or any success fees (including, without limitation, the Management Debt) to (A)&nbsp;an equity
holder of any Loan Party, which equity holder owns directly or indirectly at least fifty-one percent (51%)&nbsp;of the Voting Stock of such Loan Party (&#147;<U>Majority Holder</U>&#148;), (B)&nbsp;an Affiliate of any Loan Party, or (C)&nbsp;an
Affiliate of any Majority Holder of a Loan Party. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolver Commitment Increase Effective Date</U> - as defined in
<B>Section&nbsp;2.5.4</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolver Excess Availability</U> - as of any date of determination, an amount equal to the
lesser of (a)&nbsp;the sum of (i)&nbsp;the US Revolver Excess Availability <U>plus</U> (ii)&nbsp;the Dollar Equivalent of the Canadian Revolver Excess Availability and (b)&nbsp;an amount equal to the Total Revolver Commitments <U>minus</U> the Total
Revolver Outstandings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolver Lenders</U> - as of any date, any Lender that has a US Revolver
Commitment or a Canadian Revolver Commitment on such date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolver Loans</U> - collectively, Canadian Revolver Loans
and US Revolver Loans. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Collateral</U> &#150; Collateral of any Canadian Loan Party consisting of Rolex,
Tudor and Cellini watches, watchbands, parts and other accessories now or hereafter sold by Rolex Canada Ltd. to such Canadian Loan Party, and all other new Rolex, Tudor and Cellini watches, watch bands, parts and other accessories hereinafter held
by such Canadian Loan Party and all cash proceeds of any of the foregoing, including insurance proceeds (but specifically excluding accounts receivable), together with all rights and property of every kind at any time in the possession or control of
Rolex Canada Ltd., or any of its agents, or in transit to it, belonging to, for the account of, or subject to the order of such Canadian Loan Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Documents</U> &#150; collectively, (i)&nbsp;the Official Rolex Jeweller Agreement dated as of March&nbsp;18,
2011 between Rolex Canada Ltd. and the Canadian Borrower, and (ii)&nbsp;the Rolex Canada Security Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex
Canada Liens</U> - Liens on the Rolex Canada Collateral granted in favor of Rolex Canada Ltd. pursuant to the Rolex Canada Security Agreement to the extent that such Liens are junior and subordinate to the Liens securing the Obligations on terms and
conditions satisfactory to the Administrative Agent and the Required Lenders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Security Agreement</U>
&#150; collectively, all security agreements, if any, entered into between the Canadian Borrower and Rolex Canada Ltd. pursuant to Section&nbsp;3.04 of the Rolex Canada Document described in clause (i)&nbsp;of the definition thereof, which security
agreements shall be on terms and conditions satisfactory to the Agents and the Required Lenders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada
Subordination Agreement</U> &#150; the subordination provisions of the Rolex Canada Security Agreement, which shall be on terms and conditions satisfactory to the Agents and the Required Lenders, and affirmed by Rolex Canada Ltd. pursuant to an
acknowledgement letter in form and substance satisfactory to the Administrative Agent and the Required Lenders, and addressed to the Administrative Agent and the Canadian Agent from Rolex Canada Ltd. and acknowledged by the Canadian Borrower. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Documents</U> &#150; collectively, the Rolex Canada Documents and the Rolex USA Documents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Liens</U> &#150; collectively, the Rolex Canada Liens and the Rolex USA Liens. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Subordination Agreements</U> - collectively, the Rolex Canada Subordination Agreement and the Rolex USA Subordination
Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Collateral</U> &#150; Collateral of any US Loan Party consisting of Rolex, Tudor and Cellini
watches, watchbands, parts and other accessories now or hereafter sold by Rolex Watch U.S.A., Inc. to such US Loan Party, and all other new Rolex, Tudor and Cellini watches, watch bands, parts and other accessories hereinafter held by such US Loan
Party and all cash proceeds of any of the foregoing, including insurance proceeds (but specifically excluding accounts receivable), together with all rights and property of every kind at any time in the possession or control of Rolex Watch U.S.A.,
Inc. or any of its agents, or in transit to it, belonging to, for the account of, or subject to the order of such US Loan Party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Documents</U> - collectively, (i)&nbsp;the Rolex Store Sales
Agreement and the Approved Location Sales Agreement, each dated as of August&nbsp;1, 2010 between Rolex Watch U.S.A., Inc. and Mayor&#146;s Florida (as amended and in effect on the Closing Date), and (ii)&nbsp;the Rolex USA Security Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Liens</U> - Liens on the Rolex USA Collateral granted in favor of Rolex Watch U.S.A., Inc. pursuant to the Rolex
USA Security Agreement to the extent that such Liens are junior and subordinate to the Liens securing the Obligations on terms and conditions satisfactory to the Administrative Agent and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Security Agreement</U> - that certain Security Agreement dated as of July&nbsp;29, 1998 between Mayor&#146;s
Florida and Rolex Watch U.S.A., Inc., as amended by Amendment No.&nbsp;1 to Security Agreement dated as of May&nbsp;22, 2002 and as further amended by Amendment No.&nbsp;2 to Security Agreement dated as of December&nbsp;17, 2008. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Subordination Agreement</U> - Section&nbsp;9 of the Rolex USA Security Agreement, as affirmed by Rolex Watch
U.S.A., Inc. on December&nbsp;17, 2008 pursuant to an acknowledgment letter from Rolex Watch U.S.A., Inc. and acknowledged by Mayor&#146;s Florida. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>S&amp;P</U> - Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its
successors. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Sanctioned Entity - (a)&nbsp;a country or a
government of a country, (b)&nbsp;an agency of the government of a country, (c)&nbsp;an organization directly or indirectly controlled by a country or its government, (d)&nbsp;a Person resident in or determined to be resident in a country, in each
case, that is subject to a country sanctions program administered and enforced by OFAC or the Government of Canada.</U></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Sanctioned Person - a person named on the list of Specially
Designated Nationals maintained by OFAC or similarly named by the Government of Canada.</U></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Sarbanes-Oxley</U> -
the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Schedule III Reserve</U> - as defined in the Fourth Amendment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Seasonal Availability Block</U> &#150; as of any date of calculation during the periods set forth below, the following
amounts (the &#147;<U>Seasonal Availability Amount</U>&#148;): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:22.65pt; font-size:8pt; font-family:Times New Roman"><B>Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Seasonal&nbsp;Availability<BR>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">from and after December&nbsp;20 of each year through and including January&nbsp;20 of the immediately succeeding year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,500,000.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">from and after January&nbsp;21 through and including February&nbsp;10 of each year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,000,000.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">from and after February&nbsp;11 through and including December&nbsp;19 of each year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>provided</U>, that notwithstanding anything to the contrary, if an Event of Default shall have occurred at
any time from and after December&nbsp;20 of any year through and including February&nbsp;10 of the immediately succeeding year, the Seasonal Availability Block shall be the Seasonal Availability </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Amount in effect as of the occurrence of such Event of Default at all times for the period commencing on the occurrence of such Event of Default and continuing until such time as the Required
Lenders shall have waived such Event of Default in accordance with the terms hereof (except that from and after December&nbsp;20 of each year through and including January&nbsp;20 of the immediately succeeding year, the Seasonal Availability Block
shall be $12,500,000.00). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Secured Parties</U> - the Administrative Agent, the Canadian Agent, the Co-Collateral Agents,
the Issuing Banks, the Lenders and the providers of Bank Products. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Security Documents</U> - this Agreement, each
Guaranty, the Trademark Assignments, the Patent Security Agreement, the Stock Pledge Agreements, the Canadian Security Documents, and the Deposit Account Control Agreements, together with all security agreements, deeds of hypothec, pledge
agreements, Mortgages or other collateral security agreements, instruments or documents (including Lien Waivers and Lien Priority Agreements) entered into or to be entered into by any Person pursuant to which such Person grants or perfects a
security interest in its assets to any Agent in order to secure any of the Obligations, including, without limitation PPSA and UCC financing statements and certified statements issued by the Qu&eacute;bec Register of Personal and Movable Real
Rights, required to be executed or delivered pursuant to any Security Document. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Senior Officer</U> - the chairman of
the board, president, chief executive officer, treasurer or chief financial officer of a Borrower or, if the context requires, a Loan Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Settlement Report</U> - a report delivered by the Administrative Agent to the Lenders summarizing the Loans and
participations in US LC Obligations and Canadian LC Obligations outstanding as of a given settlement date, allocated to the Lenders on a Pro Rata basis in accordance with their Commitments under the relevant facilities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Software</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Solidary Claim</U> - as defined in <B>Section&nbsp;12.1.1(c)</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Solvent</U> - as to any Person, such Person (a)&nbsp;owns Property whose Fair Salable Value is greater than the amount
required to pay all of its debts (including contingent, subordinated, unmatured and unliquidated liabilities); (b)&nbsp;owns Property whose present Fair Salable Value (as defined below) is greater than the probable total liabilities (including
contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c)&nbsp;is able to pay all of its debts as they mature; (d)&nbsp;has capital that is not unreasonably small for its business and
is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; (e)&nbsp;is not &#147;insolvent&#148; within the meaning of Section&nbsp;101(32) of the Bankruptcy Code (or, with respect to
the Canadian Borrower or any Canadian Guarantor, is not an &#147;insolvent person&#148; within the meaning of the Bankruptcy and Insolvency Act (Canada)); and (f)&nbsp;has not incurred (by way of assumption or otherwise) any obligations or
liabilities (contingent or otherwise) under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. &#147;<U>Fair
Salable Value</U>&#148; means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing
(but under no compulsion) to purchase. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Standby Letter of Credit Fee</U> - as defined in<B> Section&nbsp;3.2.2</B>. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Stock Pledge Agreements</U> - collectively, (i)&nbsp;the Second Amended and
Restated Stock Pledge Agreement among the US Borrower, certain of the Guarantors and the Administrative Agent and (ii)&nbsp;the Amended and Restated Pledge Agreement among the Canadian Borrower, certain of the Guarantors and the Canadian Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subordinated Debt</U> - collectively, the Management Debt, the Quebec Subordinated Debt, the Montrovest Debt, the Damiani
Debt and any Additional Subordinated Debt. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subordination Agreements</U> - collectively, the Management Subordination
Agreement, the Quebec Subordination Agreements, the Rolex Subordination Agreements, the Montrovest Subordination Agreement, the Damiani Subordination Agreement and any other subordination agreement entered into by or among any Loan Party, any
subordinated creditor and the Agents, in form, scope and substance satisfactory to the Agents and the Required Lenders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subsidiary</U> - of a Person means a corporation, partnership, joint venture, limited or unlimited liability company or
other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the
happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references
herein to a &#147;Subsidiary&#148; or to &#147;Subsidiaries&#148; shall refer to any Subsidiary or Subsidiaries of any Borrower. None of the Excluded Subsidiaries shall be a &#147;Subsidiary&#148; for purposes hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Supporting Obligation</U> - as defined in the UCC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Swingline Lender</U> - with respect to (a)&nbsp;US Revolver Loans, the Administrative Agent as provider of Swingline Loans
and (b)&nbsp;Canadian Revolver Loans, the Canadian Agent as provider of Swingline Loans. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Swingline Loan</U> - any
Borrowing (a)&nbsp;by the US Borrower of Base Rate Loans funded with the Administrative Agent&#146;s funds, until such Borrowing is settled among the US Lenders pursuant to <B>Section&nbsp;4.1.3</B> and (b)&nbsp;by the Canadian Borrower of Base Rate
Loans or Canadian Prime Rate Loans funded with the Canadian Agent&#146;s funds, until such Borrowing is settled among the Canadian Lenders pursuant to <B>Section&nbsp;4.1.3</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Swingline Loan Subline</U> - $10,000,000. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Taxes</U> - any taxes, levies, imposts, duties, fees, assessments, deductions, withholdings or other charges of whatever
nature, including income, receipts, excise, property, sales, harmonized sales, goods and services, use, transfer, license, payroll, withholding, social security, franchise, intangibles, mortgage, documentary, stamp or recording taxes imposed by any
Governmental Authority, and all interest, penalties and similar liabilities relating thereto. For greater certainty, Taxes shall include all Taxes imposed pursuant to Part XIII of the ITA or any successor provisions thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan</U> - the term loan provided to the US Borrower and the Canadian Borrower by the Term Loan Lenders under the Term
Loan Documents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Agent</U> - (i)&nbsp;at all times prior to the First Amendment Effective Date, GB Capital
Partners, LLC f/k/a GB Merchant Partners, LLC[<STRIKE> and</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>,</B></U> (ii)&nbsp;at all times immediately after the First<B> </B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Amendment Effective Date and prior to the Fifth</B></U> Amendment Effective Date, Pathlight Capital,
LLC<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and (iii)&nbsp;at all times immediately after the Fifth Amendment Effective Date, Crystal Financial LLC</B></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Agreement</U> - (a)&nbsp;at all times prior to the First Amendment Effective Date, the Existing Term Loan
Agreement (as defined in the First Amendment)[<STRIKE> and</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>,</B></U> (b)&nbsp;at all times immediately after the First Amendment Effective
Date<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>&nbsp;and prior to the Fifth Amendment Effective Date</B></U>, the Second Amended and Restated Term Loan and Security Agreement dated as of the First Amendment Effective Date by and
among the Loan Parties, the Term Loan Lenders, the Term Loan Agent and the Co-Collateral Agents (as defined therein), <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>as amended from time to time to the extent permitted hereunder and in
accordance with the Intercreditor Agreement and (c)&nbsp;at all times immediately after the Fifth Amendment Effective Date, the Third Amended and Restated Term Loan and Security Agreement dated as of the Fifth Amendment Effective Date by and among
the Loan Parties, the Term Loan Lenders, the Term Loan Agent and the Collateral Agent (as defined therein), </B></U>as amended from time to time to the extent permitted hereunder and in accordance with the Intercreditor Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Borrowing Capacity</U> - at any time, an amount equal to (a)&nbsp;the sum of (i)&nbsp;108.5% of the Appraised
Inventory Liquidation Value of each Eligible Inventory Category<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> (it being acknowledged that the Administrative Agent has the right to deem all or a portion of any Inventory as ineligible
that is located in a store for which the lease is expiring in less than 5 months, if in the Administrative Agent&#146;s reasonable discretion it determines that such store closure will adversely impact the Inventory appraisal on a pro forma
basis)</B></U>; plus (ii)&nbsp;102.5% of the Appraised A/R Liquidation Value of Eligible Private Label and Corporate Accounts; plus (iii)&nbsp;102.5% of the Eligible Major Credit Card Receivables; plus (iv)&nbsp;[<STRIKE>without duplication of any
component of Aggregate Revolver Borrowing Capacity, the Montrovest LC Effective Advance Rate </STRIKE><U><strike><u>multiplied</u></strike></U><STRIKE> by</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>100% of</B></U> the then
stated amount of the [<STRIKE>Montrovest LC;</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Eligible Letter of Credit</B></U> minus (and without any other duplication of Availability Reserves imposed hereunder) (b)&nbsp;the sum
of (i)&nbsp;the Availability Reserves, (ii)&nbsp;the Availability Block, (iii)&nbsp;the Seasonal Availability Block, (iv)&nbsp;the [<STRIKE>Term Loan Discretionary Reserve, (v)&nbsp;the Term Loan Supplemental Reserve, and (vi)&nbsp;the Schedule III
Reserve</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Debt</U> -
all Debt owing to the Term Loan Lenders under the Term Loan Documents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>[</U><U><strike><u>Term Loan Discretionary
Reserve</u></strike></U><STRIKE> </STRIKE><STRIKE>- an availability reserve in an aggregate amount not to exceed five percent (5%)&nbsp;of the Term Loan Borrowing Capacity at any time (calculated without giving effect to the Term Loan Discretionary
Reserve, the Availability Block, the Seasonal Availability Block, the Schedule III Reserve, or the Term Loan Supplemental Reserve) imposed by the Administrative Agent at the written direction of the Term Loan Agent, which reserve is deemed
appropriate in the Term Loan Agent&#146;s reasonable discretion (without limiting the generality of this definition, including any such reserve that (x)&nbsp;ensures that the Loan Parties maintain adequate liquidity for the operation of their
business, (y)&nbsp;covers any deterioration in the amount or value of the Collateral and (z)&nbsp;reflects impediments to the Term Loan Agent&#146;s ability to realize upon the Collateral, shall, in each case, be deemed to be a reasonable exercise
of the Term Loan Agent&#146;s discretion), upon one Business Day&#146;s prior written notice from the Term Loan Agent to the Administrative Agent. Any such written direction letter shall identify the amount of the &#147;Term Loan Discretionary
Reserve&#148; to be imposed, reference the Intercreditor Agreement and indicate that it is a &#147;Term Loan Discretionary Reserve Direction Notice&#148;.</STRIKE><U>]</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Documents</U> - the &#147;Loan Documents&#148; under and as defined
in the Term Loan Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Lenders</U> - the agents and the lenders under the Term Loan Agreement and the
other Term Loan Documents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>[</U><U><strike><u>Term Loan Supplemental Reserve</u></strike></U><STRIKE> - an availability
reserve in an aggregate amount not to exceed $2,500,000 imposed by the Administrative Agent at the written direction of the Term Loan Agent, upon one Business Day&#146;s prior written notice from the Term Loan Agent to the Administrative Agent. Any
such written direction letter shall identify the amount of the &#147;Term Loan Supplemental Reserve&#148; to be imposed, reference the Intercreditor Agreement and indicate that it is a &#147;Term Loan Supplemental Reserve Direction
Notice&#148;.</STRIKE><U>]</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Termination Date</U> - August&nbsp;22, 2017. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Third Amendment</U> - the Third Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as
of June&nbsp;10, 2014 by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto, the Agents and the Co-Collateral Agents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Third Amendment Effective Date</U> - June&nbsp;10, 2014. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total Affiliate Commitment</U> &#150; means (a)&nbsp;with respect to any US Lender, the amount set forth on <B>Schedule
1.1(d)</B> hereof in Dollars opposite such US Lender and its Canadian Lender Affiliate or branch as the aggregate commitment provided by such US Lender and its Canadian Lender Affiliate or branch on a combined basis, or as specified hereafter in the
most recent Assignment and Assumption to which they are a party (as such amount may be increased or decreased in accordance with <B>Section&nbsp;2.5</B> hereof) and (b)&nbsp;with respect to any Canadian Lender, the amount set forth on <B>Schedule
1.1(d)</B> hereof in Dollars opposite such Canadian Lender and its US Lender Affiliate or branch as the aggregate commitment provided by such Canadian Lender and its US Lender Affiliate or branch on a combined basis, or as specified hereafter in the
most recent Assignment and Assumption to which they are a party (as such amount may be increased or decreased in accordance with <B>Section&nbsp;2.5</B> hereof). For the avoidance of doubt, the Total Affiliate Commitment does not represent or
evidence a commitment by any Lender to advance amounts hereunder or under the other Loan Documents, but is solely used for the purpose of calculating amounts under <B>Sections 2.1.1(d)(ii)</B> and <B>(iii)</B>&nbsp;and <B>Sections 4.2.2(b)</B> and
<B>(c)</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total Canadian Revolver Outstandings</U> - an amount equal to the sum of the Canadian Dollar Equivalent of
(a)&nbsp;the principal balance of all Canadian Revolver Loans <U>plus</U> (b)&nbsp;the Canadian LC Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total
LC Obligations</U> - an amount equal to the sum of (a)&nbsp;the Dollar Equivalent of the Canadian LC Obligations <U>plus</U> (b)&nbsp;the US LC Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total Revolver Commitments</U> [<STRIKE>-</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>&#150;
(i)</B></U>&nbsp;as of the Closing<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> Date and at all times prior to the Fifth Amendment Effective</B></U> Date, $115,000,000, <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>and
(ii)&nbsp;as of the Fifth Amendment Effective Date, $110,000,000, </B></U>which amount may be increased or decreased pursuant to the terms hereof. The US Revolver Commitments and the Canadian Revolver Commitments are sublimits of the Total Revolver
Commitments and not additive to the Total Revolver Commitments. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total Revolver Outstandings</U> - an amount equal to
the sum of (a)&nbsp;the Dollar Equivalent of the Total Canadian Revolver Outstandings <U>plus</U> (b)&nbsp;the Total US Revolver Outstandings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total US Revolver Outstandings</U> - an amount equal to the sum of
(a)&nbsp;the principal balance of all US Revolver Loans <U>plus</U> (b)&nbsp;the US LC Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Trademark
Assignments</U> - the several Amended and Restated Trademark Collateral Security and Pledge Agreement made by the Borrowers and their Subsidiaries in favor of the Applicable Agent and the Assignments of Trademarks and Service Marks executed in
connection therewith, all in form and substance satisfactory to the Applicable Lenders and the Applicable Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Transferee</U> - any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in any
Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Type</U> - any type of a Loan (i.e., Base Rate Loan, LIBOR Loan, Canadian Prime Rate Loan or Canadian BA
Rate Loan) that has the same interest option and, in the case of LIBOR Loans or Canadian BA Rate Loans, the same Interest Period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>UCC</U> - the Uniform Commercial Code as in effect in the State of New York or, when the laws of any other jurisdiction
govern the perfection or enforcement of any Lien, the Uniform Commercial Code or other Applicable Law of such jurisdiction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Unused Fees</U> - as defined in <B>Section&nbsp;3.2.1</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Borrower</U> - as defined in the preamble hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Borrowing Capacity</U> - on any date of determination, an amount in Dollars equal to the lesser of (a)&nbsp;the aggregate
amount of US Revolver Commitments and (b)&nbsp;the sum of (i)&nbsp;85% of the Appraised Inventory Liquidation Value of each Eligible Inventory Category owned by the US Borrower, Henry U.S. or Mayor&#146;s Florida; <U>plus</U> (ii)&nbsp;90% of the
Appraised A/R Liquidation Value of Eligible Private Label and Corporate Accounts of the US Borrower, Henry U.S. or Mayor&#146;s Florida; <U>plus</U> (iii)&nbsp;90% of the Eligible Major Credit Card Receivables of the US Borrower, Henry U.S. or
Mayor&#146;s Florida; <U>minus</U> (iv)&nbsp;the Availability Reserve in respect of the US Borrower, Henry U.S. and/or Mayor&#146;s Florida (it being understood that the amount of the Availability Block, the Seasonal Availability Block, the Loan to
Value Reserve, [<STRIKE>the Term Loan Supplemental Reserve, </STRIKE>]the Schedule III Reserve and the [<STRIKE>Term Loan Discretionary Reserve</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U> shall be
allocated, in the sole discretion of the Administrative Agent and without duplication, among the Aggregate Revolver Borrowing Capacity, the Canadian Borrowing Capacity and the US Borrowing Capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Commitment Termination Date</U> - the earliest to occur of (a)&nbsp;the Termination Date; (b)&nbsp;the date on which the
US Revolver Commitments are terminated pursuant to <B>Section&nbsp;2.2</B>; or (c)&nbsp;the date on which the US Revolver Commitments are terminated pursuant to <B>Section&nbsp;11.2</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Concentration Account</U> - a special concentration account established by the US Borrower with the Administrative Agent,
subject to the control of the Administrative Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Guarantors</U> - all Subsidiaries of the Borrowers that have
executed a Guaranty and are organized under the laws of any political subdivision of the United States. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US LC
Conditions</U> - the following conditions necessary for issuance of a Letter of Credit for the account or benefit of the US Borrower: (a)&nbsp;each of the conditions set forth in <B>Section&nbsp;6</B>; (b)&nbsp;after giving effect to such issuance,
Total LC Obligations do not exceed the Letter of Credit </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


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Subline, Total US Revolver Outstandings do not exceed the US Borrowing Capacity, and Total Revolver Outstandings do not exceed the Aggregate Revolver Borrowing Capacity; (c)&nbsp;the expiration
date of such Letter of Credit is (i)&nbsp;subject to <B>Section&nbsp;2.3.1(g)</B> in respect of Auto-Extension Letters of Credit, no more than 365 days from issuance, in the case of standby Letters of Credit, (ii)&nbsp;no more than 180 days from
issuance, in the case of documentary Letters of Credit, and (iii)&nbsp;at least 20 Business Days prior to the Termination Date; (d)&nbsp;the Letter of Credit and payments thereunder are denominated in Dollars; and (e)&nbsp;the form of the proposed
Letter of Credit is reasonably satisfactory to the Administrative Agent and Bank of America, as Issuing Bank in their discretion. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US LC Obligations</U> - an amount equal to the sum (without duplication) of (a)&nbsp;all amounts owing by the US Borrower
for any drawings under Letters of Credit (including in respect of any payment made by Bank of America, as Issuing Bank under any LC Guaranty) issued for the account or on behalf of the US Borrower; (b)&nbsp;the aggregate undrawn amount of all
outstanding Letters of Credit issued for the account or on behalf of the US Borrower; and (c)&nbsp;all fees and other amounts owing with respect to Letters of Credit issued for the account or on behalf of the US Borrower. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Lenders</U> - the Lenders indicated on <B>Schedule 1.1(a)</B> as the Lenders of US Revolver Loans, the Administrative
Agent in its capacity of a provider of Swingline Loans, Bank of America, as Issuing Bank (unless the context otherwise requires) and any other Person who hereafter becomes a &#147;US Lender&#148; pursuant to the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Loan Parties</U> - collectively, the US Borrower and the US Guarantors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Obligations</U> - all Obligations of the US Loan Parties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Revolver Commitment</U> - for any US Lender, its obligation to make US Revolver Loans and to participate in US LC
Obligations up to the maximum principal amount shown on <B>Schedule 1.1(a)</B>, or as specified hereafter in the most recent Assignment and Assumption Agreement to which it is a party (as such amount may be increased or decreased pursuant to the
terms hereof). &#147;<U>US Revolver Commitments</U>&#148; means the aggregate amount of such commitments of all US Lenders. On the Closing Date<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and at all times prior to the Fifth Amendment
Effective Date</B></U>, the US Revolver Commitments are $[<STRIKE>115,000,000.</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>115,000,000, and, as of the Fifth Amendment Effective Date, the US Revolver Commitments are
$110,000,000.</B></U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Revolver Excess Availability</U> - as of any date of determination, an amount equal to the US
Borrowing Capacity, <U>minus</U> the Total US Revolver Outstandings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Revolver Loans</U> - (a)&nbsp;a Loan made
pursuant to <B>Section&nbsp;2.1.1(a)</B>, (b)&nbsp;any Swingline Loan for the account of the US Borrower, (c)&nbsp;any Overadvance Loan for the account of the US Borrower deemed by the Administrative Agent to be a US Revolver Loan or (d)&nbsp;any
Protective Advance deemed by the Administrative Agent to be a US Revolver Loan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Revolver Note</U> - a promissory
note to be executed by the US Borrower in favor of a US Lender in the form of <B>Exhibit&nbsp;A</B>, which shall be in the amount of such US Lender&#146;s US Revolver Commitment and shall evidence the US Revolver Loans made by such US Lender. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Revolver Overadvance</U> - as defined in <B>Section&nbsp;2.1.4</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Voting Stock</U> - with respect to any Person, means the Capital Stock or
similar interests, of any class or classes (however designated), the holders of which are at the time entitled, as such holders, to, among other things, vote for the election of the directors (or persons performing similar functions) of the Person
involved, whether or not the right so to vote exists by reason of the happening of a contingency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.2. <U>Accounting Terms</U></B>.
Under the Loan Documents (except as otherwise specified herein), all accounting terms shall be interpreted, all accounting determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis
consistent with the most recent audited financial statements of the Borrowers delivered to the Administrative Agent before the Closing Date and using the same inventory valuation method as used in such financial statements, except for any change
required or permitted by GAAP if the Borrowers&#146; certified public accountants concur in such change and the change is disclosed to the Administrative Agent. If any such accounting change results in a change in any of the calculations required by
<B>Section&nbsp;10.2.12</B> that would not have resulted had such accounting change not occurred, the parties hereto agree to enter into negotiations in order to amend such provisions so as to equitably reflect such change such that the criteria for
evaluating compliance with such covenants by the Borrowers shall be the same after such change as if such change had not been made; <U>provided</U>, <U>however</U>, that no change in GAAP that would affect a calculation that measures compliance with
any covenant contained in <B>Section&nbsp;10.2.12</B> shall be given effect until such provisions are amended to reflect such changes in GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.3. <U>Certain Matters of Construction</U></B>. The terms &#147;herein,&#148; &#147;hereof,&#148; &#147;hereunder&#148; and other words of
similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. In the computation of periods of time from a specified date to a later specified
date, &#147;from&#148; means &#147;from and including,&#148; and &#147;to&#148; and &#147;until&#148; each mean &#147;to but excluding.&#148; The terms &#147;including&#148; and &#147;include&#148; shall mean &#147;including, without
limitation&#148; and, for purposes of each Loan Document, the parties agree that the rule of <I>ejusdem generis</I> shall not be applicable to limit any provision. Section titles appear as a matter of convenience only and shall not affect the
interpretation of any Loan Document. All references to (a)&nbsp;laws or statutes include all related rules, regulations, interpretations, amendments and successor provisions; (b)&nbsp;any document, instrument or agreement include any amendments,
waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c)&nbsp;any section means, unless the context otherwise requires, a section of this Agreement; (d)&nbsp;any exhibits or schedules mean, unless
the context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e)&nbsp;any Person include successors and assigns; or (f)&nbsp;discretion of any Agent, any Issuing Bank or any Lender means the
sole and absolute discretion of such Person. Unless the context otherwise requires, all determinations (including calculations of the US Borrowing Capacity, the Canadian Borrowing Capacity, the Aggregate Revolver Borrowing Capacity, the Term Loan
Borrowing Capacity, the Revolver Excess Availability, the Aggregate Revolver Excess Availability, the Fixed Charge Coverage Ratio and the Interest Coverage Ratio) made from time to time under the Loan Documents shall be made in light of the
circumstances existing at such time. The US Borrowing Capacity, the Canadian Borrowing Capacity, the Aggregate Revolver Borrowing Capacity and the Term Loan Borrowing Capacity calculations shall be consistent with historical methods of valuation and
calculation, and otherwise reasonably satisfactory to the Administrative Agent (and not necessarily calculated in accordance with GAAP). The Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by
any Agent, any Issuing Bank or any Lender under any Loan Documents. No provision of any Loan Documents shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision. For purposes of any
Collateral located in the Province of Quebec or charged by any deed of hypothec (or any other Loan Document) and for all other purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the
Province of Quebec or a court or tribunal exercising jurisdiction in the Province of Quebec, (i)&nbsp;&#147;personal property&#148; shall be deemed to include &#147;movable </P>
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property&#148;, (ii)&nbsp;&#147;real property&#148; shall be deemed to include &#147;immovable property&#148; and an &#147;easement&#148; shall be deemed to include a &#147;servitude&#148;,
(iii)&nbsp;&#147;tangible property&#148; shall be deemed to include &#147;corporeal property&#148;, (iv)&nbsp;&#147;intangible property&#148; shall be deemed to include &#147;incorporeal property&#148;, (v)&nbsp;&#147;security interest&#148; and
&#147;mortgage&#148; shall be deemed to include a &#147;hypothec&#148;, (vi)&nbsp;all references to filing, registering or recording under the PPSA or UCC shall be deemed to include publication under the Civil Code of Quebec, and all references to
releasing any Lien shall be deemed to include a release, discharge and mainlevee of a hypothec, (vii)&nbsp;all references to &#147;perfection&#148; of or &#147;perfected&#148; Liens shall be deemed to include a reference to the
&#147;opposability&#148; of such Liens to third parties, (viii)&nbsp;any &#147;right of offset&#148;, &#147;right of setoff&#148; or similar expression shall be deemed to include a &#147;right of compensation&#148;, (ix)&nbsp;&#147;goods&#148; shall
be deemed to include &#147;corporeal movable property&#148; other than chattel paper, documents of title, instruments, money and securities, [<STRIKE>and </STRIKE>](x) an &#147;agent&#148; shall be deemed to include a
&#147;mandatary&#148;<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>, (xi)&nbsp;&#147;joint and several&#148; shall include &#147;solidary&#148;, (xii)&nbsp;&#147;gross negligence or wilful misconduct&#148; shall be deemed to be
&#147;intentional or gross fault&#148;, (xiii)&nbsp;&#147;beneficial ownership&#148; shall include &#147;ownership on behalf of another as mandatary&#148;, (xiv)&nbsp;&#147;priority&#148; shall include &#147;prior claim&#148;,
(xv)&nbsp;&#147;survey&#148; shall include &#147;certificate of location and plan&#148;, (xvi)&nbsp;&#147;state&#148; shall include &#147;province&#148;, (xvii)&nbsp;&#147;fee simple title&#148; shall include &#147;absolute ownership&#148;, and
(xviii)&nbsp;&#147;accounts&#148; shall include &#147;claims&#148;. </B></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.4. <U>Letter of Credit Amounts</U></B>. Unless
otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; <U>provided</U>, <U>however</U>, that with respect to any Letter of Credit that, by its
terms or the terms of any LC Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after
giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.5. <U>Times of
Day</U></B>. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.6. <U>Conversions of Foreign Currencies</U></B>. The Administrative Agent shall determine the Dollar Equivalent and Canadian Dollar
Equivalent of any amount as required hereby, and a determination thereof by the Administrative Agent shall be conclusive absent manifest error. Any Agent may, but shall not be obligated to, rely on any determination made by any Loan Party in any
document delivered to the Administrative Agent. Any Agent may determine or redetermine the Dollar Equivalent and Canadian Dollar Equivalent of any amount on any date either in its own discretion or upon the request of any Lender or any Issuing Bank.
Any Agent may set up appropriate rounding off mechanisms or otherwise round-off amounts hereunder to the nearest higher or lower amount in whole Dollar, Canadian Dollar or cent to ensure amounts owing by any party hereunder or that otherwise need to
be calculated or converted hereunder are expressed in whole Dollars, Canadian Dollar or in whole cents, as may be necessary or appropriate. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 2.
CREDIT FACILITIES </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1. <U>Commitments</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.1.1. <U>Loans</U></B>. (a)&nbsp;<U>US Revolver Loans</U>. Each US Lender agrees, severally on a Pro Rata basis up to its US Revolver
Commitment, on the terms set forth herein, to make loans to the US Borrower in Dollars from time to time through the US Commitment Termination Date. Such loans may be repaid and reborrowed as provided herein. Other than as set forth in
<B>Section&nbsp;2.1.4</B>, the US Borrower shall not request, and the US Lenders shall not have any obligation to honor a request for, a US Revolver Loan if (i)&nbsp;the Total US Revolver Outstandings at such time (including the requested US
Revolver Loan) would exceed the US Borrowing Capacity, or (ii)&nbsp;the Total Revolver Outstandings (including the requested US Revolver Loan) would exceed the Aggregate Revolver Borrowing Capacity. Each request for a US
</P>
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Revolver Loan by the US Borrower shall be deemed to be a representation by the US Borrower that such US Revolver Loan so requested complies with the conditions set forth in this
<B>Section&nbsp;2.1.1(a)</B>. Subject to the terms set forth herein, US Revolver Loans shall be either Base Rate Loans or LIBOR Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) [Reserved]. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
<U>Canadian Revolver Loans</U>. Each Canadian Lender agrees, severally on a Pro Rata basis up to its Canadian Revolver Commitment, on the terms set forth herein, to make loans to the Canadian Borrower in Canadian Dollars or Dollars from time to time
through the Canadian Commitment Termination Date. Such loans may be repaid and reborrowed as provided herein. Other than as set forth in <B>Section&nbsp;2.1.4</B>, the Canadian Borrower shall not request, and the Canadian Lenders shall not have any
obligation to honor a request for, a Canadian Revolver Loan if (i)&nbsp;the Total Canadian Revolver Outstandings at such time (including the requested Canadian Revolver Loan) would exceed the Canadian Borrowing Capacity, or (ii)&nbsp;the Total
Revolver Outstandings (including the requested Canadian Revolver Loan) would exceed the Aggregate Revolver Borrowing Capacity. Each request for a Canadian Revolver Loan by the Canadian Borrower shall be deemed to be a representation by the Canadian
Borrower that such Canadian Revolver Loan so requested complies with the conditions set forth in this <B>Section&nbsp;2.1.1(c)</B>. Subject to the terms set forth herein, (x)&nbsp;Canadian Revolver Loans denominated in Dollars shall be either Base
Rate Loans or LIBOR Loans; <U>provided</U>, that the aggregate principal amount of any Canadian Revolver Loans denominated in Dollars shall not exceed $10,000,000 at any one time outstanding and (y)&nbsp;Canadian Revolver Loans denominated in
Canadian Dollars shall be either Canadian Prime Rate Loans or Canadian BA Rate Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>US Borrowing Capacity; the Canadian
Borrowing Capacity and Total Affiliate Commitment</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The US Borrowing Capacity, the Canadian Borrowing Capacity, the
Aggregate Revolver Borrowing Capacity and the Term Loan Borrowing Capacity shall be determined from time to time by the Administrative Agent by reference to the most recent Borrowing Base Certificate delivered by the Borrowers. The Administrative
Agent may from time to time establish and modify the Availability Reserve in accordance with the definition thereto in respect of the US Borrowing Capacity, the Canadian Borrowing Capacity, the Aggregate Revolver Borrowing Capacity and the Term Loan
Borrowing Capacity, as the case may be. Neither the Administrative Agent nor the Lenders shall have any liability or obligation whatsoever to the Loan Parties in connection with, relating to or arising out of the implementation or imposition of the
[<STRIKE>Term Loan Discretionary Reserve and/or the Term Loan Supplemental Reserve at the written direction of the Term Loan Agent</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U>. Without limiting the
foregoing, none of the Administrative Agent or the Lenders shall be liable to the Loan Parties[<STRIKE> in the event the conditions to the imposition or implementation of such reserves have not been met at the time the Administrative Agent is
directed to impose such reserves or</STRIKE>] for any action taken or omitted to be taken by the Administrative Agent or the Lenders in connection with the [<STRIKE>Term Loan Discretionary Reserve and/or the Term Loan Supplemental
Reserve</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Capital Block</B></U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) At no point shall
a US Lender&#146;s (which, for purposes of this clause (ii), shall include its Canadian Lender Affiliate&#146;s or branch&#146;s) Total Revolver Outstandings exceed its Total Affiliate Commitment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) At no point shall a Canadian Lender&#146;s (which, for purposes of this clause (iii), shall include its US Lender
Affiliate&#146;s or branch&#146;s) Total Revolver Outstandings exceed its Total Affiliate Commitment. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.1.2. <U>Notes</U></B>. The Loans made by each Lender and interest accruing thereon shall be
evidenced by the records of the Administrative Agent and such Lender. At the request of any Lender, the Borrowers shall deliver a US Revolver Note and/or a Canadian Revolver Note, as applicable, to such Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.1.3. <U>Use of Proceeds</U></B>. The proceeds of Loans and the issuance of Letters of Credit shall be used by the Borrowers solely
(a)&nbsp;to pay fees and transaction expenses associated with the closing of this credit facility; and (b)&nbsp;for working capital and other lawful corporate purposes of the Borrowers and their Subsidiaries in accordance with this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.1.4. <U>Overadvances; Protective Advances</U></B>. If the Total US Revolver Outstandings exceed the US Borrowing Capacity (&#147;<U>US
Revolver Overadvance</U>&#148;) at any time, the excess amount shall be payable by the US Borrower in accordance with <B>Section&nbsp;2.2.4</B>, but all such Loans shall nevertheless constitute Obligations secured by the Collateral and entitled to
all benefits of the Loan Documents. If the Total Canadian Revolver Outstandings exceed the Canadian Borrowing Capacity (&#147;<U>Canadian Revolver Overadvance</U>&#148;) at any time, the excess amount shall be payable by the Canadian Borrower in
accordance with <B>Section&nbsp;2.2.4</B>, but all such Loans shall nevertheless constitute Obligations secured by the Collateral and entitled to all benefits of the Loan Documents. The Applicable Agent shall be authorized, in its discretion, at any
time (including any time that a Default or Event of Default exists or any conditions in <B>Section&nbsp;6.2</B> are not satisfied) to make US Revolver Loans or Canadian Revolver Loans (&#147;<U>Protective Advances</U>&#148;) up to an aggregate
amount equal to 10% of the Aggregate Revolver Borrowing Capacity less the aggregate amount of all Overadvance Loans, in each case, if the Applicable Agent deems such Loans necessary or desirable to, directly or indirectly, (A)&nbsp;maintain, protect
or preserve the value of the Collateral and/or the Applicable Agent&#146;s rights therein as determined in the discretion of the Applicable Agent, including to preserve the Loan Parties&#146; business assets and infrastructure (such as the payment
of insurance premiums, taxes, necessary suppliers, rent and payroll, including without limitation any other payments made concurrently with a payment relating to the maintenance, protection or preservation of value of the Collateral and/or the
Applicable Agent&#146;s rights therein or for the preservation of the Loan Parties&#146; business assets or infrastructure which is made incidentally as a result of the ordinary course operation of the Loan Parties&#146; treasury management
functions), (B)&nbsp;implement and exercise an Enforcement Action with respect to the Collateral, (C)&nbsp;fund an orderly liquidation or wind-down of the Loan Parties&#146; assets or business or an Insolvency Proceeding (whether or not occurring
prior to or after the commencement of an Insolvency Proceeding), (D)&nbsp;enhance the likelihood, or maximize, the repayment of the Obligations, (E)&nbsp;reflect currency fluctuations, or (F)&nbsp;pay any other amounts chargeable to the Loan Parties
under any Loan Documents, including costs, fees and expenses. All Protective Advances shall be Obligations, shall be secured by the Collateral, and shall be treated for all purposes as Extraordinary Expenses. Protective Advances shall be funded as
Base Rate Loans or Canadian Prime Rate Loans, as applicable. Each US Lender shall participate in each Protective Advance to the US Borrower on a Pro Rata basis. Each Canadian Lender shall participate in each Protective Advance to the Canadian
Borrower on a Pro Rata basis. In no event shall Protective Advances be required that would cause the Total Revolver Outstandings to exceed the Total Revolver Commitments. Any funding of an Overadvance Loan or sufferance of a Protective Advance, US
Revolver Overadvance or a Canadian Overadvance shall not constitute a waiver by the Agents or the Lenders of the Event of Default caused thereby. In no event shall any Borrower or other Loan Party be deemed a beneficiary of this Section nor
authorized to enforce any of its terms. Notwithstanding anything herein to the contrary, no event or circumstance shall result in any claim or liability against any Agent for &#147;inadvertent Overadvances&#148; (i.e., where a US Revolver
Overadvance or Canadian Overadvance results from changed circumstances beyond the control of the Applicable Agent (such as (i)&nbsp;a decline in the value of the Collateral, (ii)&nbsp;errors or fraud on a Borrowing Base Certificate,
(iii)&nbsp;components of US Borrowing Capacity or Canadian Borrowing Capacity on any date thereafter being deemed ineligible, (iv)&nbsp;the return of uncollected checks or other items of payment applied to the reduction of Loans or other similar
involuntary or unintentional actions or (v)&nbsp;any other circumstance beyond the </P>
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reasonable control of the Agents or the Lenders that results in the reduction of the realizable value of any components of US Borrowing Capacity or Canadian Borrowing Capacity)), and such
&#147;inadvertent Overadvances&#148; shall not reduce the amount of Protective Advances allowed hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.2. <U>Reduction or
Termination of Commitments</U></B>.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.2.1. <U>Reduction or Termination of US Revolver Commitments</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The US Revolver Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Agreement. Upon at
least twenty-five (25)&nbsp;days prior written notice to the Administrative Agent at any time, the US Borrower may, at its option, terminate the US Revolver Commitments in whole. Any notice of termination given by the US Borrower shall be
irrevocable. On the termination date specified in such notice of termination, the US Borrower shall make payment in full, in cash, of all US Revolver Loans and all interest thereon and all Obligations due and owing to the Administrative Agent or any
US Lender, in its capacity as a US Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Borrowers may permanently reduce the US Revolver Commitments, on a Pro Rata basis for
each US Lender, from time to time upon written notice to the Administrative Agent, which notice shall specify the amount of the reduction, shall be irrevocable once given, and shall be given at least five (5)&nbsp;Business Days prior to the
requested reduction date; provided that, unless terminated in whole, the US Revolver Commitments may not be reduced to an amount that is less than $100,000,000. Each reduction shall be in a minimum amount of $5,000,000, or an increment of $1,000,000
in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Concurrently with any reduction in the US Revolver Commitments as provided in this <B>Section&nbsp;2.2.1</B>,
(i)&nbsp;the Total Revolver Commitments of the Lenders shall be reduced by a corresponding amount and (ii)&nbsp;the Canadian Revolver Commitments shall be reduced by an amount such that the ratio of the US Revolver Commitments to the Dollar
Equivalent of the Canadian Revolver Commitments immediately following such reduction is equal to the ratio that existed immediately prior to such reduction. In the event the US Revolver Commitments are terminated, the Total Revolver Commitments and
Canadian Revolver Commitments shall be terminated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Concurrently with any reduction pursuant to <B>Section&nbsp;2.2.1(a)</B>,
<B>(b)&nbsp;</B>or<B> (c)</B>, the Borrowers shall repay the Total US Revolver Outstandings and the Total Canadian Revolver Outstandings as required pursuant to <B>Section&nbsp;2.2.4</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Concurrently with the termination of all or any portion of the US Revolver Commitments at any time prior to the Termination Date, for
whatever reason (including, without limitation, whether voluntary or involuntary, resulting from an Event of Default or after acceleration thereof), the US Borrower shall pay to the Administrative Agent, for the Pro Rata benefit of US Lenders and as
liquidated damages for loss of bargain (and not as a penalty), an amount equal to (i)&nbsp;if the termination occurs during the period commencing on the Closing Date through and including the first anniversary of the Closing Date, 2.0% of the US
Revolver Commitments being terminated; (ii)&nbsp;if the termination occurs during the period commencing on the day immediately following the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, 1.0%
of the US Revolver Commitments being terminated; and (iii)&nbsp;if the termination occurs at anytime thereafter, 0.50% of the US Revolver Commitments being terminated. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.2.2. [Reserved]</B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.2.3. <U>Reduction or Termination of Canadian Revolver Commitments; Reduction in Total Revolver Commitment</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Canadian Revolver Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Agreement.
Upon at least twenty-five (25)&nbsp;days prior written notice to Agents at any time, the Canadian Borrower may, at its option, terminate the Canadian Revolver Commitments in whole. Any notice of termination given by the Canadian Borrower shall be
irrevocable. On the termination date specified in such notice of termination, the Canadian Borrower shall make payment in full, in cash, of Canadian Revolver Loans and all interest thereon and all Obligations due and owing to the Canadian Agent or
any Canadian Lender, in its capacity as a Canadian Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Canadian Borrower may permanently reduce the Canadian Revolver
Commitments, on a Pro Rata basis for each Canadian Lender, from time to time upon written notice to Agents, which notice shall specify the amount of the reduction, shall be irrevocable once given and shall be given at least five Business Days prior
to the requested reduction date. Each reduction shall be in a minimum amount of Cdn. $5,000,000, or an increment of Cdn. $1,000,000 in excess thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Concurrently with any reduction pursuant to <B>Section&nbsp;2.2.3(a) </B>or <B>(b)</B>, the Borrowers shall repay the Total Canadian
Revolver Outstandings as required pursuant to <B>Section&nbsp;2.2.4</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.2.4. <U>Mandatory Prepayments</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If at any time, (i)&nbsp;the Total US Revolver Outstandings exceed the US Borrowing Capacity at such time, (ii)&nbsp;the Total Canadian
Revolver Outstandings exceeds the Canadian Borrowing Capacity at such time or (iii)&nbsp;the Total Revolver Outstandings exceeds the Aggregate Revolver Borrowing Capacity at such time, then the Borrowers shall immediately pay the amount of such
excess to the Applicable Agent for the respective accounts of the Applicable Lenders for application to the US Revolver Loans and/or the Canadian Revolver Loans, as the case may be, and/or Cash Collateralize the US LC Obligations and/or the Canadian
LC Obligations, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any prepayments required to be made by the Borrowers in respect of the Total US Revolver
Outstandings pursuant to clause (a)&nbsp;of this <B>Section&nbsp;2.2.4</B> shall be applied <U>first</U>, to repay the outstanding principal balance of the Protective Advances advanced to the US Borrower until such Protective Advances shall have
been repaid in full; <U>second</U>, to repay the outstanding principal balance of the Swingline Loans advanced to the US Borrower until such Swingline Loans shall have been repaid in full; <U>third</U>, to repay the outstanding principal balance of
the US Revolver Loans until such US Revolver Loans shall have been paid in full; and <U>fourth</U>, to provide Cash Collateral for outstanding Letters of Credit issued for the account or benefit of the US Borrower until such Letters of Credit have
been Cash Collateralized in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Any prepayments required to be made by the Borrowers in respect of the Total Canadian Revolver
Outstandings pursuant to clause (a)&nbsp;of this <B>Section&nbsp;2.2.4</B> shall be applied <U>first</U>, to repay the outstanding principal balance of the Protective Advances advanced to the Canadian Borrower until such Protective Advances shall
have been repaid in full; <U>second</U>, to repay the outstanding principal balance of the Swingline Loans advanced to the Canadian Borrower until such Swingline Loans shall have been repaid in full; <U>third</U>, to repay the outstanding principal
balance of the Canadian Revolver Loans until such Canadian Revolver Loans shall have been paid in full; and <U>fourth</U>, to provide Cash Collateral for outstanding Letters of Credit issued for the account or benefit of the Canadian Borrower until
such Letters of Credit have been Cash Collateralized in full. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.3. <U>Letter of Credit Facility</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.3.1. <U>Issuance of Letters of Credit</U></B>. The Issuing Banks agree, in reliance upon the agreements of the US Lenders and the
Canadian Lenders set forth in this <B>Section&nbsp;2.3</B>, to issue or cause the issuance of Letters of Credit (a)&nbsp;for the account of the US Borrower denominated in Dollars or (b)&nbsp;for the account of the Canadian Borrower denominated in
Canadian Dollars or Dollars, in each case, from time to time until 30 days prior to the Termination Date (or (i)&nbsp;in the case of a Letter of Credit issued for the account of the US Borrower, until the US Commitment Termination Date, if earlier
or (ii)&nbsp;in the case of a Letter of Credit issued for the account of the Canadian Borrower, until the Canadian Commitment Termination Date, if earlier), on the terms set forth herein, including the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Borrower acknowledges that each Issuing Bank&#146;s willingness to issue or cause the issuance of any Letter of Credit is conditioned
upon such Issuing Bank&#146;s receipt of an LC Application with respect to the requested Letter of Credit, as well as such other instruments and agreements as such Issuing Bank may customarily require for issuance of a letter of credit of similar
type and amount. No Issuing Bank shall have any obligation to issue any Letter of Credit unless (i)&nbsp;such Issuing Bank receives an LC Request and LC Application at least three Business Days prior to the requested date of issuance; and (ii)(A) in
the case of a Letter of Credit issued for the account of benefit of the US Borrower, each US LC Condition or (B)&nbsp;in the case of a Letter of Credit issued for the account or benefit of the Canadian Borrower, each Canadian LC Condition, is
satisfied. If any Issuing Bank receives written notice from a US Lender or a Canadian Lender, as applicable, at least one Business Day before issuance of a Letter of Credit that any US LC Condition or any Canadian LC Condition, as the case may be,
has not been satisfied, such Issuing Bank shall have no obligation to issue the requested Letter of Credit (or any other) until such US LC Condition or such Canadian LC Condition is satisfied or until the Required Lenders have waived such condition
in accordance with this Agreement. Prior to receipt of any such notice, such Issuing Bank shall not be deemed to have knowledge of any failure of US LC Conditions or Canadian LC Conditions, as applicable. No Issuing Bank shall be under any
obligation to issue any Letter of Credit if (i)&nbsp;any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any law
applicable to such Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or request that such Issuing Bank refrain from, the
issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise
compensated hereunder) not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which such Issuing Bank in good faith deems material to it,
(ii)&nbsp;the issuance of such Letter of Credit would violate one or more policies of such Issuing Bank applicable to letters of credit generally or (iii)&nbsp;any Lender is, at such time, a Defaulting Lender, unless such Issuing Bank has entered
into arrangements satisfactory to such Issuing Bank with the Borrowers or such Defaulting Lender to eliminate such Issuing Bank&#146;s Fronting Exposure with respect to such Defaulting Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Letters of Credit may be requested by a Borrower to support any lawful corporate purposes of such Borrower and its Subsidiaries. The
renewal or extension of any Letter of Credit shall be treated as the issuance of a new Letter of Credit, except that delivery of a new LC Application shall be required at the reasonable discretion of the applicable Issuing Bank. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrowers assume all risks of the acts, omissions or misuses of any Letter of Credit by the beneficiary; <U>provided</U>, that the
foregoing is not intended to, nor shall it prohibit, any Borrower from pursuing all rights and remedies it may have against such beneficiary or assignee thereof. In connection with the issuance of any Letter of Credit, none of any Agent, any Issuing
Bank or any Lender shall be responsible for the existence, character, quality, quantity, condition, packing, value or delivery of </P>
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any goods purported to be represented by any Documents; any differences or variation in the character, quality, quantity, condition, packing, value or delivery of any goods from that expressed in
any Documents; the form, validity, sufficiency, accuracy, genuineness or legal effect of any Documents or of any endorsements thereon; the time, place, manner or order in which shipment of goods is made; partial or incomplete shipment of, or failure
to ship, any goods referred to in a Letter of Credit or Documents; any deviation from instructions, delay, default or fraud by any shipper or other Person in connection with any goods, shipment or delivery; any breach of contract between a shipper
or vendor and a Borrower; errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex, telecopy, e-mail, telephone or otherwise; errors in interpretation of technical terms; the
misapplication by a beneficiary of any Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of any Issuing Bank, any Agent or any Lender, including any act or omission of a Governmental Authority. The
rights and remedies of the Issuing Banks under the Loan Documents shall be cumulative. The Issuing Banks shall be fully subrogated to the rights and remedies of each beneficiary whose claims against the Borrowers are discharged with proceeds of any
Letter of Credit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) In connection with its administration of and enforcement of rights or remedies under any Letters of Credit or LC
Documents, each Issuing Bank shall be entitled to act, and shall be fully protected in acting, upon any certification, notice or other communication in whatever form believed by such Issuing Bank, in good faith, to be genuine and correct and to have
been signed, sent or made by a proper Person. Each Issuing Bank may consult with and employ legal counsel, accountants and other experts to advise it concerning its obligations, rights and remedies, and shall be entitled to act upon, and shall be
fully protected in any action taken in good faith reliance upon, any advice given by such experts. Each Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to Letters of Credit or LC Documents, and shall not
be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected with reasonable care. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The parties hereto agree that each Existing Letter of Credit described on <B>Schedule 2.3.1</B> and issued by any Issuing Bank or any of
its Affiliates or branches shall be deemed to be a Letter of Credit issued pursuant to this Agreement, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) If any Borrower so requests in any applicable LC Application, each Issuing Bank may, in its sole and absolute discretion, agree to issue a
standby Letter of Credit that has automatic extension provisions (each, an &#147;<U>Auto-Extension Letter of Credit</U>&#148;); <U>provided</U> that any such Auto-Extension Letter of Credit must permit such Issuing Bank to prevent any such extension
at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the &#147;<U>Non-Extension Notice Date</U>&#148;) in each such
twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the applicable Issuing Bank, the applicable Borrower shall not be required to make a specific request to such Issuing Bank for any such
extension. Once an Auto-Extension Letter of Credit has been issued, the Applicable Lenders shall be deemed to have authorized (but may not require) such Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not
later than twenty (20)&nbsp;Business Days prior to the Termination Date; <U>provided</U>, <U>however</U>, that such Issuing Bank shall not permit any such extension if (A)&nbsp;such Issuing Bank has determined that it would not be permitted, or
would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof, or (B)&nbsp;it has received notice (which may be by telephone or in writing) on or before the day that is seven Business
Days before the Non-Extension Notice Date (1)&nbsp;from the Applicable Agent that the Required Lenders have elected not to permit such extension or (2)&nbsp;from the Applicable Agent, any Lender or any Loan Party that one or more of the US LC
Conditions or Canadian LC Conditions, as applicable, or one or more of the conditions set forth in <B>Section&nbsp;6.2</B> is not then satisfied, and in each such case directing such Issuing Bank not to permit such extension. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) If any Borrower so requests in any applicable Letter of Credit Application, the applicable
Issuing Bank may, in its sole and absolute discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an &#147;<U>Auto-Reinstatement
Letter of Credit</U>&#148;). Unless otherwise directed by the applicable Issuing Bank, no Borrower shall be required to make a specific request to such Issuing Bank to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been
issued, except as provided in the following sentence, the Applicable Lenders shall be deemed to have authorized (but may not require) the applicable Issuing Bank to reinstate all or a portion of the stated amount thereof in accordance with the
provisions of such Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits such Issuing Bank to decline to reinstate all or any portion of the stated amount thereof after a drawing thereunder by giving
notice of such non-reinstatement within a specified number of days after such drawing (the &#147;<U>Non-Reinstatement Deadline</U>&#148;), the applicable Issuing Bank shall not permit such reinstatement if (A)&nbsp;such Issuing Bank has determined
that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof, or (B)&nbsp;it has received notice (which may be by telephone or in writing) on or
before the day that is seven Business Days before the Non-Reinstatement Deadline (1)&nbsp;from the Applicable Agent that the Required Lenders have elected not to permit such extension or (2)&nbsp;from the Applicable Agent, any Lender or any Loan
Party that one or more of the US LC Conditions or Canadian LC Conditions, as applicable, or one or more of the conditions set forth in <B>Section&nbsp;6.2</B> is not then satisfied, and in each such case directing such Issuing Bank not to permit
such extension. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is
for the account of, a Subsidiary of any Borrower, such Borrower shall be obligated to reimburse the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit. Each Borrower hereby acknowledges that the issuance of
Letters of Credit for the account of the Subsidiaries inures to the benefit of the such Borrower, and that such Borrower&#146;s business derives substantial benefits from the businesses of such Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) Each Issuing Bank shall promptly notify the Agents of the issuance of, and provide Agents with a copy of, each Letter of Credit issued
hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.3.2. <U>Reimbursement; Participations</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If any Issuing Bank honors any request for payment under a Letter of Credit or, if applicable an LC Guaranty with respect to a Letter of
Credit, the applicable Borrower shall pay to such Issuing Bank, on the same day, if notice of such honor is given to the applicable Borrower prior to 1:00 p.m. on the honor date, and otherwise on the next Business Day (&#147;<U>Reimbursement
Date</U>&#148;), the amount paid by such Issuing Bank under such Letter of Credit or, if applicable, under an LC Guaranty with respect to such Letter of Credit, together with interest at the interest rate for (a)&nbsp;in the case of a Letter of
Credit denominated in Dollars, Base Rate Loans and (b)&nbsp;in the case of a Letter of Credit denominated in Canadian Dollars issued for the account of the Canadian Borrower, Canadian Prime Rate Loans, in each case, from the Reimbursement Date until
payment by the relevant Borrower. The obligation of the applicable Borrower to reimburse the Issuing Banks for any payment made under a Letter of Credit or LC Guaranty shall be absolute, unconditional, irrevocable, and joint and several, and shall
be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that the Borrowers may have at any time against the beneficiary. Whether or not any Borrower
submits a Notice of Borrowing, the relevant Borrower shall be deemed to have requested a Borrowing of Base Rate Loans or Canadian Prime Rate Loans, as the case may be, in an amount necessary to pay all amounts due to
</P>
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the applicable Issuing Bank on any Reimbursement Date and (a)&nbsp;in the case of a Letter of Credit issued for the account of the US Borrower, each US Lender agrees to fund its Pro Rata share of
such Borrowing whether or not the US Revolver Commitments have terminated, a US Revolver Overadvance exists or is created thereby, or the conditions in <B>Section&nbsp;6</B> are satisfied and (b)&nbsp;in the case of a Letter of Credit issued for the
account of the Canadian Borrower, each Canadian Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Canadian Revolver Commitments have terminated, a Canadian Overadvance exists or is created thereby, or the conditions in
<B>Section&nbsp;6</B> are satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon issuance of a Letter of Credit, (i)&nbsp;in the case of a Letter of Credit issued for the
account or benefit of the US Borrower, each US Lender and (ii)&nbsp;in the case of a Letter of Credit issued for the account or benefit of the Canadian Borrower, each Canadian Lender, shall be deemed to have irrevocably and unconditionally purchased
from the applicable Issuing Bank, without recourse or warranty, an undivided Pro Rata interest and participation in all US LC Obligations or Canadian LC Obligations, as the case may be, relating to the Letter of Credit. If any Issuing Bank makes any
payment under a Letter of Credit or an LC Guaranty and the applicable Borrower does not reimburse such payment on the Reimbursement Date, the Applicable Agent shall promptly notify the Lenders and each Applicable Lender shall promptly (within one
Business Day) and unconditionally pay to the Applicable Agent, for the benefit of such Issuing Bank, such Applicable Lender&#146;s Pro Rata share of such payment. Upon request by a US Lender, such Issuing Bank shall furnish copies of any Letters of
Credit and LC Documents in its possession at such time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The obligation of each US Lender to make payments to the Administrative Agent
for the account of an Issuing Bank in connection with such Issuing Bank&#146;s payment under a Letter of Credit or LC Guaranty issued for the account or benefit of the US Borrower shall be absolute, unconditional and irrevocable, not subject to any
counterclaim, setoff, qualification or exception whatsoever, and shall be made in accordance with this Agreement under all circumstances, irrespective of any lack of validity or unenforceability of any Loan Documents; any draft, certificate or other
document presented under a Letter of Credit having been determined to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or the existence of any setoff or defense that
any Loan Party may have with respect to any Obligations. The obligation of each Canadian Lender to make payments to the Canadian Agent for the account of an Issuing Bank in connection with such Issuing Bank&#146;s payment under a Letter of Credit or
LC Guaranty issued for the account or benefit of the Canadian Borrower shall be absolute, unconditional and irrevocable, not subject to any counterclaim, setoff, qualification or exception whatsoever, and shall be made in accordance with this
Agreement under all circumstances, irrespective of any lack of validity or unenforceability of any Loan Documents; any draft, certificate or other document presented under a Letter of Credit having been determined to be forged, fraudulent, invalid
or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or the existence of any setoff or defense that any Loan Party may have with respect to any Obligations. No Issuing Bank assumes any responsibility for
any failure or delay in performance or any breach by any Borrower or other Person of any obligations under any LC Documents. No Issuing Bank makes any express or implied warranty, representation or guaranty to the Lenders with respect to the
Collateral, LC Documents or any Loan Party. No Issuing Bank shall be responsible to any Lender for any recitals, statements, information, representations or warranties contained in, or for the execution, validity, genuineness, effectiveness or
enforceability of any LC Documents; the validity, genuineness, enforceability, collectibility, value or sufficiency of any Collateral or the perfection of any Lien therein; or the assets, liabilities, financial condition, results of operations,
business, creditworthiness or legal status of any Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) No Issuing Bank Indemnitee shall be liable to any Lender or other
Person for any action taken or omitted to be taken in connection with any LC Documents except as a result of its actual gross negligence or willful misconduct. No Issuing Bank shall have any liability to any Lender or the
</P>
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Borrower if such Issuing Bank refrains from any action under any Letter of Credit or LC Documents until it receives written instructions from the Required Lenders. In furtherance and not in
limitation of the foregoing, each Issuing Bank may (i)&nbsp;accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and such Issuing Bank
shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may
prove to be invalid or ineffective for any reason and (ii)&nbsp;make payment under any Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) If any Lender fails to make available to the Applicable Agent for the account of the applicable Issuing Bank any amount required to be
paid by such Lender pursuant to the foregoing provisions of this <B>Section&nbsp;2.3.2</B> by the time specified in this <B>Section&nbsp;2.3.2</B>, such Issuing Bank shall be entitled to recover from such Lender (acting through the Applicable
Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the Federal Funds
Rate (or, with respect to Canadian Lenders, the Bank of Canada overnight rate) and a rate determined by such Issuing Bank in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees
customarily charged by such Issuing Bank in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender&#146;s required payment by such Lender pursuant to the
foregoing provisions of this <B>Section&nbsp;2.3.2</B>. A certificate of such Issuing Bank submitted to any Lender (through the Applicable Agent) with respect to any amounts owing under this <B>Section&nbsp;2.3.2</B> shall be conclusive absent
manifest error. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.3.3. <U>Cash Collateralization of Letters of Credit</U></B>. If any US LC Obligations or Canadian LC Obligations,
whether or not then due or payable, shall for any reason be outstanding at any time (a)&nbsp;that an Event of Default exists, (b)&nbsp;that, in the case of US LC Obligations, the Total US Revolver Outstandings exceed the US Borrowing Capacity,
(c)&nbsp;that, in the case of Canadian LC Obligations, the Total Canadian Revolver Outstandings exceed the Canadian Borrowing Capacity, (d)&nbsp;that, in the case of Total LC Obligations, the Total Revolver Outstandings exceed the Aggregate Revolver
Borrowing Capacity, (e)(i) in the case of US LC Obligations, after the US Commitment Termination Date or (ii)&nbsp;in the case of Canadian LC Obligations, after the Canadian Commitment Termination Date or (f)&nbsp;within five Business Days prior to
the Termination Date, then the applicable Borrower shall, at the applicable Issuing Bank&#146;s or the Applicable Agent&#146;s request, pay to such Issuing Bank the amount of all outstanding US LC Obligations and/or outstanding Canadian LC
Obligations and Cash Collateralize all outstanding Letters of Credit. If the applicable Borrower fails to Cash Collateralize outstanding Letters of Credit as required herein, the Applicable Lenders may (and shall upon direction of the Applicable
Agent) advance, as Base Rate Loans or Canadian Prime Rate Loans, as applicable, the amount of the Cash Collateral required (whether or not the US Revolver Commitments or Canadian Revolver Commitments have terminated, any US Revolver Overadvance or
Canadian Overadvance exists, or the conditions in <B>Section&nbsp;6</B> are satisfied). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.3.4. <U>Role of Issuing Banks</U></B>. Each
Lender and each Borrower agree that, in paying any drawing under a Letter of Credit, the Issuing Banks shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter
of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the Issuing Banks, the Applicable Agent, any of their respective Related
Parties nor any correspondent, participant or assignee of any Issuing Bank shall be liable to any Lender for (i)&nbsp;any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as
applicable; (ii)&nbsp;any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii)&nbsp;the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or
document in connection therewith. None of </P>
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the Issuing Banks, the Applicable Agent, any of their respective Related Parties nor any correspondent, participant or assignee of any Issuing Bank shall be liable or responsible for any matters
relating to the Letters of Credit (including, without limitation, the issuance, extension renewal or amendment of, or the drawing or payment upon, any Letter of Credit); <U>provided</U>, <U>however</U>, the Borrowers may have a claim against an
Issuing Bank, and such Issuing Bank may be liable to the Borrowers, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrowers which the Borrowers prove were caused by such
Issuing Bank&#146;s willful misconduct or gross negligence. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.3.5. <U>Applicability of International Standby Practices 1998 and
Uniform Customs and Practice for Documentary Credits</U></B>. Unless otherwise expressly agreed by the applicable Issuing Bank and the applicable Borrower when a Letter of Credit is issued, (i)&nbsp;the rules of the &#147;International Standby
Practices 1998&#148; published by the Institute of International Banking Law&nbsp;&amp; Practice, Inc. (or such later version thereof as may be in effect at the time of issuance) shall apply to each standby Letter of Credit, and (ii)&nbsp;the rules
of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.4. <U>Cash Collateral</U></B>. At any time that there shall exist a Defaulting Lender, promptly upon the request of the Applicable Agent
or the applicable Issuing Bank, the Borrowers shall deliver to the Applicable Agent from time to time Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to <B>Section&nbsp;4.2</B> and any Cash Collateral
provided by the Defaulting Lender). Cash Collateral provided in respect of Letters of Credit or Swingline Loans shall be held and applied to the satisfaction of the specific US LC Obligations or Canadian LC Obligations, as applicable, Swingline
Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein. Each Borrower, and to the extent provided by any Defaulting Lender, such Lender, hereby grants to (and subjects to the control of) the Applicable Agent, for the benefit of the Agents, the
Issuing Banks and the Lenders, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the
foregoing, all as security for the obligations to which such Cash Collateral may be applied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.5. <U>Increase in
Commitments</U></B>.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.1. <U>Request for Increase</U></B>. Provided there exists no Default or Event of Default, upon notice
to the Administrative Agent (which shall promptly notify the Lenders), the Borrowers may request an increase in the Total Revolver Commitments by an amount not exceeding $25,000,000; <U>provided</U> that (i)&nbsp;any such request for an increase
shall be in a minimum amount of $10,000,000 and in $5,000,000 increments in excess thereof, (ii)&nbsp;the Borrowers shall not be permitted to make more than two (2)&nbsp;such requests and (iii)&nbsp;any increase in the Total Revolver Commitments
pursuant to this <B>Section&nbsp;2.5</B> shall result in an increase in the US Revolver Commitments in a corresponding amount and an increase in the Canadian Revolver Commitments by an amount such that the ratio of the US Revolver Commitments to the
Dollar Equivalent of the Canadian Revolver Commitments immediately following such increase is equal to the ratio that existed immediately prior to such increase. At the time of sending such notice, the Borrowers (in consultation with the
Administrative Agent) shall specify the time period within which each Revolver Lender is requested to respond (which shall in no event be less than ten (10)&nbsp;Business Days from the date of delivery of such notice to the Revolver Lenders). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.2. <U>Lender Elections to Increase</U></B>. Each Revolver Lender shall notify the Administrative Agent within such time period whether
or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Pro Rata share of such requested increase. Any Revolver Lender not responding within such time period shall be deemed to have
declined to increase its Commitment. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.3. <U>Notification by the Administrative Agent; Additional Revolver Lenders</U></B>. The
Administrative Agent shall notify the Borrowers and each Revolver Lender of the Revolver Lenders&#146; responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative
Agent and each Issuing Bank, the Borrowers may also invite additional Eligible Assignees to become Revolver Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.4. <U>Effective Date and Allocations</U></B>. If the Total Revolver Commitments are increased in accordance with this
<B>Section&nbsp;2.5</B>, the Administrative Agent and the Borrowers shall determine the effective date (the &#147;<U>Revolver Commitment Increase Effective Date</U>&#148;) and the final allocation of such increase. The Administrative Agent shall
promptly notify the Borrowers and the Revolver Lenders of the final allocation of such increase and the Revolver Commitment Increase Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.5. <U>Conditions to Effectiveness of Increase</U></B>. As a condition precedent to such increase, the Borrowers shall deliver to the
Administrative Agent a certificate of each Loan Party dated as of the Revolver Commitment Increase Effective Date signed by a Senior Officer of such Loan Party (i)&nbsp;certifying and attaching the resolutions adopted by such Loan Party approving or
consenting to such increase, and (ii)&nbsp;in the case of the Borrowers, certifying that, before and after giving effect to such increase, (A)&nbsp;the representations and warranties contained in <B>Section&nbsp;9</B> and the other Loan Documents
are true and correct in all material respects on and as of the Revolver Commitment Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct
in all material respects as of such earlier date, and (B)&nbsp;no Default or Event of Default exists. The Borrowers shall prepay any Revolver Loans outstanding on the Revolver Commitment Increase Effective Date (and pay any additional amounts
required pursuant to <B>Section&nbsp;3.9</B>) to the extent necessary to keep the outstanding Revolver Loans ratable with any revised Pro Rata shares arising from any nonratable increase in the Commitments under this <B>Section&nbsp;2.5</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>2.5.6. <U>Conflicting Provisions</U></B>. This <B>Section&nbsp;2.5 </B>shall supersede any provisions in <B>Section&nbsp;14.1</B> to the
contrary. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 3. INTEREST, FEES AND CHARGES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.1. <U>Interest</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.1.1. <U>Rates and Payment of Interest</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Obligations shall bear interest (i)&nbsp;if a Base Rate Loan, at the Base Rate in effect from time to time, <U>plus</U> the Applicable
Margin for Base Rate Loans; (ii)&nbsp;if a LIBOR Loan, at Adjusted LIBOR for the applicable Interest Period, <U>plus</U> the Applicable Margin for LIBOR Loans; (iii)&nbsp;if Canadian Prime Rate Loans, at the Canadian Prime Rate in effect from time
to time, <U>plus</U> the Applicable Margin for Canadian Prime Rate Loans; (iv)&nbsp;if a Canadian BA Rate Loan, at the Canadian BA Rate for the applicable Interest Period, <U>plus</U> the Applicable Margin for Canadian BA Rate Loans; and (v)&nbsp;if
any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, <U>plus</U> the Applicable Margin for Base Rate Loans. Interest shall accrue from the date the Loan is
advanced or the Obligation is incurred or payable, until paid by the Borrowers. If a Loan is repaid on the same day made, one day&#146;s interest shall accrue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) During any Event of Default described in <B>Section&nbsp;11.1(a)</B>, all Obligations shall bear interest at the Default Rate. During any
other Event of Default, at the option of the Administrative Agent or upon the request of the Required Lenders, all Obligations shall bear interest at the Default Rate. Each Borrower acknowledges that the cost, expense and risk to each Agent and each
Lender due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable estimate to compensate the Agents and the Lenders for such added cost, expense and risk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Interest accrued on the Loans shall be due and payable in arrears, and each of the US Borrower and the Canadian Borrower promises to pay
interest to the Applicable Lenders, (i)&nbsp;with respect to each Base Rate Loan and each Canadian Prime Rate Loan, on the first Business Day of each calendar quarter, (ii)&nbsp;with respect to each LIBOR Loan and each Canadian BA Rate Loan, on the
last day of its Interest Period; <U>provided</U> that if any Interest Period for a LIBOR Loan or a Canadian BA Rate Loan exceeds three months, interest accrued on such LIBOR Loan or such Canadian BA Rate Loan shall also be due and payable on the
respective dates that fall every three months after the beginning of such Interest Period, (iii)&nbsp;on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iv)&nbsp;with respect to any termination or reduction
of the US Revolver Commitments or the Canadian Revolver Commitment, on the date of such termination or reduction with respect to the principal amount of Loans where the commitment to make such Loans is being terminated. Interest accrued on any other
Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable <B>on demand</B>. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable
<B>on demand</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.1.2. <U>Application of Adjusted LIBOR and/or the Canadian BA Rate to Outstanding Loans</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any Borrower may on any Business Day, subject to delivery of a Notice of Conversion/Continuation under clause (b)&nbsp;below, elect to
convert any portion of its Base Rate Loans to, or to continue any of its LIBOR Loans at the end of its Interest Period as, a LIBOR Loan. The Canadian Borrower may on any Business Day, subject to delivery of a Notice of Conversion/Continuation under
clause (c)&nbsp;below, elect to convert any portion of its Canadian Prime Rate Loans to, or to continue any of its Canadian BA Rate Loans at the end of its Interest Period as, a Canadian BA Rate Loan. During any Default or Event of Default, the
Administrative Agent may (and shall at the direction of the Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan. During any Default or Event of Default, the Canadian Agent may (and shall at the direction of the
Required Lenders) declare that no Loan may be made, converted or continued as a Canadian BA Rate Loan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Whenever any Borrower desires to convert or continue its Loans as LIBOR Loans, such Borrower
shall give the Applicable Agent a Notice of Conversion/Continuation, no later than 11:00 a.m. at least three Business Days before the requested conversion or continuation date. Promptly after receiving any such notice, the Applicable Agent shall
notify each Applicable Lender thereof. Each Notice of Conversion/Continuation shall be irrevocable, and shall specify the aggregate principal amount of Loans to be converted or continued, the conversion or continuation date (which shall be a
Business Day), and the duration of the Interest Period (which shall be deemed to be one month if not specified). If, upon the expiration of any Interest Period in respect of any LIBOR Loans, a Borrower shall have failed to deliver a Notice of
Conversion/Continuation, it shall be deemed to have elected to convert such Loans into Base Rate Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Whenever the Canadian
Borrower desires to convert or continue Canadian Prime Rate Loans as Canadian BA Rate Loans, the Canadian Borrower shall give the Canadian Agent a Notice of Conversion/Continuation, no later than 11:00 a.m. at least three Business Days before the
requested conversion or continuation date. Promptly after receiving any such notice, the Canadian Agent shall notify each Canadian Lender thereof. Each Notice of Conversion/Continuation shall be irrevocable, and shall specify the aggregate principal
amount of Canadian Revolver Loans to be converted or continued, the conversion or continuation date (which shall be a Business Day), and the duration of the Interest Period (which shall be deemed to be one month if not specified). If, upon the
expiration of any Interest Period in respect of any Canadian BA Rate Loan, the Canadian Borrower shall have failed to deliver a Notice of Conversion/Continuation, it shall be deemed to have elected to convert such Canadian Revolver Loans into
Canadian Prime Rate Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.1.3. <U>Interest Periods</U></B>. In connection with the making, conversion or continuation of
(a)&nbsp;any LIBOR Loans, the Borrowers shall select an interest period (&#147;<U>Interest Period</U>&#148;) to apply, which interest period shall be one, two, three or six months, to the extent any such interest period is available and (b)&nbsp;any
Canadian BA Rate Loans, the Canadian Borrower shall select an Interest Period to apply, which interest period shall be one, two, three or six months, to the extent any such interest period is available; <U>provided</U>, <U>however</U>, that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Interest Period shall commence on the date the Loan is made or continued as, or converted into, a LIBOR Loan or a Canadian BA Rate
Loan, as the case may be, and shall expire on the numerically corresponding day in the calendar month at its end; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) if any Interest
Period commences on a day for which there is no corresponding day in the calendar month at its end or if such corresponding day falls after the last Business Day of such month, then the Interest Period shall expire on the last Business Day of such
month; and if any Interest Period would expire on a day that is not a Business Day, the period shall expire on the next Business Day; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) no Interest Period shall extend beyond the Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.1.4. <U>Interest Rate Not Ascertainable</U></B>. If the Applicable Agent shall determine that on any date for determining Adjusted LIBOR
or the Canadian BA Rate, adequate and fair means do not exist for ascertaining any such rate on the basis provided herein, then such Agent shall immediately notify the Borrowers of such determination. Until the Applicable Agent notifies the
Borrowers that such circumstance no longer exists, the obligation of the Lenders to make LIBOR Loans or Canadian BA Rate Loans, as the case may be, shall be suspended, and no further Loans may be borrowed, converted into or continued as LIBOR Loans
or Canadian BA Rate Loans, as applicable. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.2. <U>Fees</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.2.1. <U>Unused Facility Fee</U></B>. The US Borrower shall pay to the Administrative Agent for the Pro Rata benefit of the US Lenders, a
fee equal to the <U>product</U> of the Applicable Unused Fee Rate times the amount by which the Total Revolver Commitments exceed the average daily balance of the Total Revolver Outstandings (excluding Swingline Loans) during any calendar quarter.
The fees payable under this <B>Section&nbsp;3.2.1</B> (collectively, the &#147;<U>Unused Fees</U>&#148;) shall be payable quarterly in arrears on the first Business Day of each calendar quarter and on the US Commitment Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.2.2. <U>LC Facility Fees</U></B>. The relevant Borrower shall pay (i)&nbsp;to the Applicable Agent, for the Pro Rata benefit of the
Applicable Lenders, a fee equal to the per annum rate of the Applicable Margin in effect for Standby Letter of Credit Fees times the maximum amount available to be drawn by the Borrower in respect of standby Letters of Credit pursuant to the terms
of this Agreement, which fee (a &#147;<U>Standby Letter of Credit Fee</U>&#148;) shall be payable quarterly in arrears, on the first Business Day of each calendar quarter; (ii)&nbsp;to the Applicable Agent, for the Pro Rata benefit of the Applicable
Lenders, a fee equal to the per annum rate of the Applicable Margin in effect for Documentary Letter of Credit Fees times the maximum amount available to be drawn by the Borrower in respect of documentary Letters of Credit pursuant to the terms of
this Agreement, which fee (a &#147;<U>Documentary Letter of Credit Fee</U>&#148;) shall be payable quarterly in arrears, on the first Business Day of each calendar quarter; and (iii)&nbsp;to the applicable Issuing Bank, for its own account, a
fronting fee calculated at a rate of 0.125%&nbsp;per annum on the maximum amount available to be drawn by the Borrowers in respect of Letters of Credit issued by such Issuing Bank pursuant to the terms of this Agreement, which fee shall be payable
quarterly in arrears of the first Business Day of each calendar quarter and (iv)&nbsp;to each Issuing Bank, for its own account, all other customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and
administration of Letters of Credit, which charges shall be paid as and when incurred. At any time after the occurrence and during the continuance of an Event of Default, the fees payable under clauses (i)&nbsp;and (ii)&nbsp;shall accrue interest at
the Default Rate. Notwithstanding anything to the contrary set forth herein, any Standby Letter of Credit Fee or Documentary Letter of Credit Fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to
which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Lenders in accordance with the upward adjustments in their respective
Pro Rata shares allocable to such Letter of Credit pursuant to <B>Section&nbsp;4.2</B>, with the balance of such Standby Letter of Credit Fee or Documentary Letter of Credit Fee, if any, payable to the Issuing Bank for its own account. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>3.2.3. <U>Other Fees</U></B>. The Borrowers shall pay to the applicable Persons the fees described in the Fee Letters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.3. <U>Computation of Interest, Fees, Yield Protection</U>.</B> All computations of interest for Base Rate Loans when the Base Rate is
determined by Bank of America&#146;s &#147;prime rate&#148; and Canadian Prime Rate Loans shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computation of interest, as well as fees and
other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by any Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for
all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate or refund, nor subject to proration except as specifically provided herein. All fees payable under <B>Section&nbsp;3.2</B> are
compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by the Borrowers under <B>Section&nbsp;3.4, 3.6, 3.7, 3.9
</B>or<B> 5.8</B>, submitted to the Borrowers by the Applicable Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error. For the purpose of complying with the <I>Interest Act
(Canada)</I>, it is expressly stated that where interest or a fee is calculated pursuant hereto at a rate based upon a 360-day period (for the purposes of this Section, the &#147;first rate&#148;), the
</P>
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yearly rate or percentage of interest to which the first rate is equivalent is the first rate multiplied by the actual number of days in the calendar year in which the same is to be ascertained
and divided by 360, and the parties hereto acknowledge that there is a material distinction between the nominal and effective rates of interest and that they are capable of making the calculations necessary to compare such rates and that the
calculations herein are to be made using the nominal rate method and not on any basis that gives effect to the principle of deemed reinvestment of interest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.4. <U>Reimbursement Obligations</U>.</B> The Borrowers shall reimburse the Agents and each Co-Collateral Agent for all Extraordinary
Expenses. Without duplication, the Borrowers shall also reimburse the Agents for all reasonable legal, accounting, appraisal, consulting, and other fees, costs and expenses incurred by it in connection with (a)&nbsp;negotiation, preparation,
execution and delivery of any Loan Documents, including any amendment or other modification thereof (whether or not the transactions contemplated hereby or thereby shall be consummated); (b)&nbsp;administration of and actions relating to any
Collateral, Loan Documents and transactions contemplated thereby, including any actions taken to perfect or maintain priority of the Applicable Agent&#146;s Liens on any Collateral, to maintain any insurance required hereunder or to verify
Collateral; (c)&nbsp;all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; and (d)&nbsp;subject to the limits
of <B>Sections 10.1.1(b)</B> and <B>(c)</B>, each inspection, audit or appraisal with respect to any Loan Party or Collateral, whether prepared by the Applicable Agent&#146;s personnel or a third party. The Borrowers shall also reimburse the Agents,
the Co-Collateral Agents and the Lenders for all reasonable costs and expenses incurred by them (whether during an Event of Default or otherwise) in connection with the enforcement or preservation of any rights under this Agreement or any of the
other Loan Documents (including during any workout, restructuring or negotiations in respect of Loans, Letters of Credit, Loan Documents or the transactions contemplated thereby). The Borrowers shall also reimburse each Co-Collateral Agent for all
reasonable and documented legal fees of one outside counsel incurred by it in connection with (a)&nbsp;negotiation and preparation of any Loan Documents, including any amendment, waiver, consent, supplement, restatement or other modification thereof
or thereto; and (b)&nbsp;administration and enforcement of and actions relating to any Collateral, Loan Documents, and transactions contemplated thereby. All amounts reimbursable by the Borrowers under this <B>Section&nbsp;3.4 </B>shall constitute
Obligations secured by the Collateral and shall be payable within twenty Business Days after presentation by any Agent or Co-Collateral Agent to the Borrowers of a reasonably detailed itemization of such amounts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.5. <U>Illegality</U>.</B> Notwithstanding anything to the contrary herein, if (a)&nbsp;any change in any law or interpretation thereof,
made after the date hereof, by any Governmental Authority makes it unlawful for a Lender to make or maintain a LIBOR Loan or a Canadian BA Rate Loan or to maintain any Commitment with respect to LIBOR Loans or Canadian BA Rate Loans or (b)&nbsp;a
Lender determines that the making or continuance of a LIBOR Loan or a Canadian BA Rate Loan has become impracticable as a result of a circumstance that adversely affects the London interbank market, any other relevant interbank market or the
position of such Lender in such market, then such Lender shall give notice thereof to the Applicable Agent and the Borrowers and may (i)&nbsp;declare that LIBOR Loans and/or Canadian BA Rate Loans will not thereafter be made by such Lender,
whereupon (x)&nbsp;any request for a LIBOR Loan from such Lender shall be deemed to be a request for a Base Rate Loan and (y)&nbsp;any request for a Canadian BA Rate Loan from such Canadian Lender shall be deemed to be a request for a Canadian Prime
Rate Loan, in each case, unless such Lender&#146;s declaration has been withdrawn (and it shall be withdrawn promptly upon cessation of the circumstances described in clause (a)&nbsp;or (b)&nbsp;above); and/or (ii)&nbsp;(x)&nbsp;require that all
outstanding LIBOR Loans made by such Lender be converted to Base Rate Loans immediately, in which event all outstanding LIBOR Loans of such Lender shall be immediately converted to Base Rate Loans, and (y)&nbsp;require that all outstanding Canadian
BA Rate Loans made by such Lender be converted to Canadian Prime Rate Loans immediately, in which event all outstanding Canadian BA Rate Loans of such Lender shall be immediately converted to Canadian Prime Rate Loans. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.6. <U>Increased Costs</U>.</B> If, by reason of (a)&nbsp;the introduction of or any change
(including any change by way of imposition or increase of any reserve requirements (but without duplication of any amounts described in the last paragraph of this <B>Section&nbsp;3.6</B>)) in any law or interpretation thereof, in each case made
after the date hereof, or (b)&nbsp;the compliance with any guideline or request from any Governmental Authority or other Person exercising control over banks or financial institutions generally (whether or not having the force of law), promulgated
after the date hereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) a Lender shall be subject to any Tax with respect to any LIBOR Loan, Canadian BA Rate Loan or
Letter of Credit or its obligation to make LIBOR Loans, Canadian BA Rate Loans, issue Letters of Credit or participate in US LC Obligations and/or Canadian LC Obligations, or a change shall result in the basis of taxation of any payment to a Lender
with respect to its LIBOR Loans, Canadian BA Rate Loans or its obligation to make LIBOR Loans, Canadian BA Rate Loans, issue Letters of Credit or participate in US LC Obligations and/or Canadian LC Obligations (except for Excluded Taxes); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any reserve (including any imposed by the Board of Governors), special deposits or similar requirement against assets of,
deposits with or for the account of, or credit extended by, a Lender shall be imposed or deemed applicable, or any other condition affecting a Lender&#146;s LIBOR Loans or Canadian BA Rate Loans or obligation to make LIBOR Loans, Canadian BA Rate
Loans, issue Letters of Credit or participate in US LC Obligations and/or Canadian LC Obligations shall be imposed on such Lender or the London interbank market or such other relevant interbank market; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and as a result there shall be a material increase in the cost to such Lender of agreeing to make or making, funding or maintaining LIBOR Loans, Canadian BA
Rate Loans, Letters of Credit or participations in US LC Obligations and/or Canadian LC Obligations (except to the extent already included in determination of Adjusted LIBOR or the Canadian BA Rate), or there shall be a reduction in the amount
receivable by such Lender, then the Lender shall promptly notify the Borrowers and Agents of such event, and the Borrowers shall, within five days following demand therefor, pay such Lender the amount of such increased costs or reduced amounts;
<U>provided</U>, <U>however</U>, that such Lender shall repay to the Borrowers any amounts paid by the Borrowers to such Lender under this <B>Section&nbsp;3.6</B> at any time such Lender shall determine that such change or compliance was not
applicable to, or required by, such Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If a Lender determines that, because of circumstances described above or any other
circumstances arising hereafter affecting such Lender, the London interbank market, such other relevant interbank market or the Lender&#146;s position in any such market, Adjusted LIBOR, Canadian BA Rate or its Applicable Margin, as applicable, will
not adequately and fairly reflect the cost to such Lender of funding LIBOR Loans or Canadian BA Rate Loans, issuing Letters of Credit or participating in US LC Obligations and/or Canadian LC Obligations, then (A)&nbsp;the Lender shall promptly
notify the Borrowers and Agents of such event; (B)&nbsp;such Lender&#146;s obligation to make LIBOR Loans, Canadian BA Rate Loans, issue Letters of Credit or participate in US LC Obligations and/or Canadian LC Obligations shall be immediately
suspended, until each condition giving rise to such suspension no longer exists; and (C)&nbsp;(x)&nbsp;such Lender shall make a Base Rate Loan as part of any requested Borrowing of LIBOR Loans, which Base Rate Loan shall, for all purposes, be
considered part of such Borrowing, and (y)&nbsp;such Lender shall make a Canadian Prime Rate Loan as part of any requested Borrowing of Canadian BA Rate Loans, which Canadian Prime Rate Loan shall, for all purposes, be considered part of such
Borrowing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the foregoing, the applicable Borrower shall pay to each Applicable Lender, (i)&nbsp;as long as such Lender
shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as &#147;Eurocurrency liabilities&#148;), additional interest on the unpaid principal amount of
each LIBOR Loan equal to the actual costs of such reserves </P>
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allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), and (ii)&nbsp;as long as such Lender shall be required to comply with
any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the LIBOR Loans or Canadian BA Rate Loans, such
additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith,
which determination shall be conclusive), which in each case shall constitute Obligations and be due and payable on each date on which interest is payable on such Loan, <U>provided</U> the Borrower Agent shall have received at least 10 days&#146;
prior notice (with a copy to the Applicable Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant interest payment date provided for in this Agreement, such additional interest
or costs shall be due and payable 10 days from receipt of such notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.7. <U>Capital Adequacy</U>.</B> If a Lender determines that
any introduction of or any change in a Capital Adequacy Regulation, any change in the interpretation or administration of a Capital Adequacy Regulation by a Governmental Authority charged with interpretation or administration thereof, or any
compliance by such Lender or any Person controlling such Lender with a Capital Adequacy Regulation, in each case made after the date hereof, increases the amount of capital required or expected to be maintained by such Lender or Person (taking into
consideration its capital adequacy policies and desired return on capital) as a consequence of such Lender&#146;s Commitments, Loans, participations in US LC Obligations or Canadian LC Obligations or other obligations under the Loan Documents, then
the Borrowers shall, within ten days following demand therefor, pay such Lender an amount sufficient to compensate for such increase. A Lender&#146;s demand for payment shall set forth the nature of the occurrence giving rise to such compensation
and a calculation of the amount to be paid. In determining such amount, the Lender may use any reasonable averaging and attribution method. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.8. <U>Mitigation</U>.</B> Each Lender agrees that, upon becoming aware that it is subject to <B>Section&nbsp;3.5, 3.6</B>, <B>3.7</B> or
<B>5.8</B>, it will take reasonable measures to reduce the Borrowers&#146; obligations under such Sections, including funding or maintaining its Commitments or Loans through another office, as long as use of such measures would not adversely affect
such Lender&#146;s Commitments, Loans, business or interests, and would not be inconsistent with any applicable legal or regulatory restriction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.9. <U>Funding Losses</U>.</B> If for any reason (other than default by a Lender) (a)&nbsp;any Borrowing of, or conversion to or
continuation of, a LIBOR Loan or Canadian BA Rate Loan does not occur on the date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation (whether or not withdrawn), (b)&nbsp;any repayment or conversion of a LIBOR Loan or
Canadian BA Rate Loan occurs on a day other than the end of its Interest Period, or (c)&nbsp;the Borrowers fail to repay a LIBOR Loan or Canadian BA Rate Loan when required hereunder, then the Borrowers shall pay to the Applicable Agent its
customary administrative charge and to each Lender all losses and expenses that it sustains as a consequence thereof, including any loss or expense arising from liquidation or redeployment of funds or from fees payable to terminate deposits of
matching funds. The Lenders shall not be required to purchase Dollar deposits in the London interbank market or any other offshore Dollar market to fund any LIBOR Loan, but the provisions hereof shall be deemed to apply as if each Lender had
purchased such deposits to fund its LIBOR Loans. The Lenders shall not be required to purchase Canadian Dollar deposits in the relevant interbank market or offshore Canadian Dollar market to fund any Canadian BA Rate Loan, but the provisions hereof
shall be deemed to apply as if each Lender had purchased such deposits to fund its Canadian BA Rate Loan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.10. <U>Maximum
Interest</U>.</B> In no event shall interest, charges or other amounts that are contracted for, charged or received by the Agents and the Lenders pursuant to any Loan Documents and that are deemed interest under Applicable Law
(&#147;<U>interest</U>&#148;) exceed the highest rate permissible under Applicable Law (&#147;<U>maximum rate</U>&#148;). If, in any period, any interest rate, absent the foregoing limitation, would have
</P>
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exceeded the maximum rate, then the interest rate for that month shall be the maximum rate and, if in a future month, that interest rate would otherwise be less than the maximum rate, then the
rate shall remain at the maximum rate until the amount of interest actually paid equals the amount of interest which would have accrued if it had not been limited by the maximum rate. If, upon payment in full, in cash, of the Obligations, the total
amount of interest actually paid under the Loan Documents is less than the total amount of interest that would, but for this <B>Section&nbsp;3.10</B>, have accrued under the Loan Documents, then the Borrowers shall, to the extent permitted by
Applicable Law, pay to the Applicable Agent, for the account of the Applicable Lenders, (a)&nbsp;the lesser of (i)&nbsp;the amount of interest that would have been charged if the maximum rate had been in effect at all times, or (ii)&nbsp;the amount
of interest that would have accrued had the interest rate otherwise set forth in the Loan Documents been in effect, <U>minus</U> (b)&nbsp;the amount of interest actually paid under the Loan Documents. If a court of competent jurisdiction determines
that any Agent or any Lender has received interest in excess of the maximum amount allowed under Applicable Law, such excess shall be deemed received on account of, and shall automatically be applied to reduce, Obligations other than interest
(regardless of any erroneous application thereof by any Agent or any Lender), and upon payment in full, in cash of the Obligations, any balance shall be refunded to the Borrowers. In determining whether any excess interest has been charged or
received by any Agent or any Lender, all interest at any time charged or received from the Borrowers in connection with the Loan Documents shall, to the extent permitted by Applicable Law, be amortized, prorated, allocated and spread in equal parts
throughout the full term of the Obligations.<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> If any provision of this Agreement would oblige a Canadian Loan Party to make any payment of interest or other amount payable to the Agents and
the Lenders in an amount or calculated at a rate which would be prohibited by Applicable Law or would result in a receipt by the Agents and the Lenders of &#147;interest&#148; at a &#147;criminal rate&#148; (as such terms are construed under the
</B><B><I>Criminal Code</I></B><B> (Canada)), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so
prohibited by Applicable Law or so result in a receipt by the Agents and the Lenders of &#147;interest&#148; at a &#147;criminal rate&#148;, such adjustment to be effected, to the extent necessary (but only to the extent necessary), as follows:
(a)&nbsp;first, by reducing the amount or rate of interest; and (b)&nbsp;thereafter, by reducing any fees, commissions, costs, expenses, premiums and other amounts required to be paid which would constitute interest for purposes of section 347 of
the </B><B><I>Criminal Code</I></B><B> (Canada). Any provision of this Agreement that would oblige a Canadian Loan Party to pay any fine, penalty or rate of interest on any arrears of principal of interest secured by a mortgage or hypothec on Real
Estate that has the effect of increasing the charge on arrears beyond the rate of interest payable on principal money not in arrears shall not apply to such Canadian Loan Party, which shall be required to pay interest on money in arrears at the same
rate of interest payable on principal money not in arrears.</B></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.11. <U>Replacement of the Lenders</U>. </B>In the event that any
Lender (i)&nbsp;notifies the Borrower Agent that, pursuant to <B>Section&nbsp;3.5</B>, such Lender can no longer make LIBOR Loans or Canadian BA Rate Loans, (ii)&nbsp;demands payment of additional amounts or increased costs pursuant to
<B>Section&nbsp;3.6</B> or (iii)&nbsp;is a Defaulting Lender (each an &#147;<U>Affected Lender</U>&#148;), then the Borrower Agent may, at its option, notify the Applicable Agent and such Affected Lender of its intention to replace the Affected
Lender. So long as no Default or Event of Default shall have occurred and be continuing, the Borrower Agent, with the consent of the Administrative Agent, may obtain, at the Borrowers&#146; expense, a replacement Lender (&#147;<U>Replacement
Lender</U>&#148;) for the Affected Lender, which Replacement Lender must be (i)&nbsp;an Eligible Assignee and (ii)&nbsp;satisfactory to the Administrative Agent. If the Borrowers obtain a Replacement Lender within ninety (90)&nbsp;days following
notice of their intention to do so, the Affected Lender must sell and assign its Loans and Commitments to such Replacement Lender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and fees
with respect thereto through the date of such sale; <U>provided</U> that the Borrowers shall have reimbursed such Affected Lender for the additional amounts or increased costs that it is entitled to receive under this Agreement through the date of
such sale and assignment. Notwithstanding the foregoing, the Borrowers shall not have the right to obtain a Replacement </P>
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Lender if the Affected Lender (i)&nbsp;in the case of a notice under <B>Section&nbsp;3.5</B>, rescinds its notice that it can no longer fund LIBOR Loans or Canadian BA Rate Loans or (ii)&nbsp;in
the case of a demand under <B>Section&nbsp;3.6</B>, rescinds its demand for increased costs or additional amounts, within ten (10)&nbsp;days following its receipt of the Borrower Agent&#146;s notice of intention to replace such Affected Lender.
Furthermore, if the Borrower Agent gives a notice of intention to replace and does not so replace such Affected Lender within ninety (90)&nbsp;days thereafter, the Borrowers&#146; rights under this paragraph as to such noticed replacement and in
connection with such Affected Lender shall terminate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.12. <U>Dodd-Frank Act</U></B>. Notwithstanding anything herein to the contrary
(including, without limitation, the provisions set forth in <B>Sections 3.5, 3.6, 3.7 and 5.9</B>), (x)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act, and all regulations, rules, guidelines and directives promulgated thereunder
and (y)&nbsp;all 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 regulatory authorities, in each case
pursuant to Basel III, shall, in each case, be deemed to have been adopted after the date hereof, regardless of the date enacted, adopted or issued. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 4. LOAN ADMINISTRATION </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.1.
<U>Manner of Borrowing and Funding Loans</U></B>.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.1.1. <U>Notice of Borrowing</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Whenever the Borrowers desire funding of a Borrowing of Loans, the Borrower Agent shall give the Administrative Agent a Notice of
Borrowing. Such notice must be received by the Administrative Agent no later than 1:00 p.m. (i)&nbsp;on the Business Day of the requested funding date, in the case of Base Rate Loans or Canadian Prime Rate Loans, and (ii)&nbsp;at least three
Business Days prior to the requested funding date, in the case of LIBOR Loans or Canadian BA Rate Loans. Notices received after 1:00 p.m. shall be deemed received on the next Business Day. Each Notice of Borrowing shall be irrevocable and shall
specify (A)&nbsp;the principal amount of the Borrowing, (B)&nbsp;the requested funding date (which must be a Business Day), (C)&nbsp;whether the Borrowing is to be made as a US Revolver Loan or Canadian Revolver Loan, (D)&nbsp;whether the Borrowing
is to be made as a Base Rate Loan, LIBOR Loan, Canadian Prime Rate Loan or a Canadian BA Rate Loan and (E)&nbsp;in the case of LIBOR Loans or Canadian BA Rate Loans, the duration of the applicable Interest Period (which shall be deemed to be one
month if not specified). Each borrowing shall be in an aggregate amount of not less than (i)&nbsp;in the case of Base Rate Loans or LIBOR Rate Loans, $500,000 or an integral multiple of $100,000 in excess thereof, and (ii)&nbsp;in the case of
Canadian Prime Rate Loans or Canadian BA Rate Loans, Cdn. $500,000 or an integral multiple of Cdn. $100,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Unless
payment is otherwise timely made by the Borrowers, the becoming due of any Obligations (whether principal, interest, fees or other charges, including Extraordinary Expenses, US LC Obligations, Canadian LC Obligations, Cash Collateral and Bank
Product Debt) shall be deemed to be a request for Base Rate Loans or Canadian Prime Rate Loans, as applicable, on the due date, in the amount of such Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) If the Borrowers establish a controlled disbursement account with any Agent or any branch or Affiliate of such Agent, then the
presentation for payment of any check or other item of payment drawn on such account at a time when there are insufficient funds to cover it shall be deemed to be, on the date of such presentation, in the amount of the check and items presented for
payment, a request for (i)&nbsp;with respect to the US Borrower, Base Rate Loans and (ii)&nbsp;with respect to the Canadian Borrower, Canadian Prime Rate Loans. The proceeds of such Loans may be disbursed directly to the controlled disbursement
account or other appropriate account. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.1.2. <U>Fundings by the Lenders</U></B>. Each US Lender shall timely honor its US Revolver
Commitment by funding its Pro Rata share of each Borrowing of US Revolver Loans that is properly requested hereunder. Each Canadian Lender shall timely honor its Canadian Revolver Commitment by funding its Pro Rata share of each Borrowing of
Canadian Revolver Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the Applicable Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) by 2:00 p.m.
on the proposed funding date for Base Rate Loans or Canadian Prime Rate Loans or by 3:00 p.m. at least three Business Days before any proposed funding of LIBOR Loans or Canadian BA Rate Loans. Each Lender shall fund to the Applicable Agent such
Lender&#146;s Pro Rata share of the Borrowing to the account specified by such Agent in immediately available funds not later than 3:00 p.m. on the requested funding date, unless such Agent&#146;s notice is received after the times provided above,
in which event the Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. Subject to its receipt of such amounts from the Lenders, the Applicable Agent shall disburse the proceeds of the Loans as directed by the Borrowers.
Unless the Applicable Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, such Agent may assume that such Lender has deposited or promptly will deposit
its share with such Agent, and such Agent may disburse a corresponding amount to the Borrowers. If a Lender&#146;s share of any Borrowing is not in fact received by the Applicable Agent, then such Lender and the Borrowers agree to repay to the
Applicable Agent <B>on demand</B> the amount of such share, together with interest thereon from the date disbursed until repaid, at the rate applicable to such Borrowing. If a Borrower and such Lender shall pay such interest to the Applicable Agent
for the same or an overlapping period, the Applicable Agent shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Applicable Agent,
then the amount so paid shall constitute such Lender&#146;s Loan included in such Borrowing. Any payment by a Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the
Applicable Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.1.3. <U>Swingline Loans; Settlement</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) In reliance upon the agreements of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the US Revolver Lenders set forth in this <B>Section&nbsp;4.1.3</B>, the Administrative Agent may, in its sole discretion,
but shall not be obligated to, advance Swingline Loans denominated in Dollars to the US Borrower out of the Administrative Agent&#146;s own funds unless the funding is specifically required to be made by all US Lenders hereunder; so long as, after
giving effect to such Swingline Loan, the Dollar Equivalent of all outstanding Swingline Loans does not exceed the Swingline Loan Subline. Each Swingline Loan for the account of the US Borrower shall constitute a Base Rate Loan for all purposes,
except that payments thereon (including interest thereon) shall be made to the Administrative Agent for its own account. The obligation of the US Borrower to repay Swingline Loans shall be evidenced by the records of the Administrative Agent and
need not be evidenced by any promissory note. Any notice from the US Borrower requesting a Swingline Loan must be received by the Administrative Agent no later than 1:00 p.m. on the Business Day of the requested funding date. Any Swingline Loan
requested by the US Borrower shall be in a minimum amount of $25,000; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Canadian Revolver Lenders set forth in
this <B>Section&nbsp;4.1.3</B>, the Canadian Agent may, in its sole discretion, but shall not be obligated to, advance Swingline Loans denominated in Canadian Dollars or Dollars to the Canadian Borrower out of the Canadian Agent&#146;s own funds
unless the funding is specifically required to be made by all Canadian Lenders hereunder; so long as, after giving effect to such Swingline Loan, the Dollar Equivalent of all outstanding Swingline Loans does not exceed the Swingline Loan Subline.
Each Swingline Loan for the account of the Canadian Borrower shall constitute a Base Rate Loan or a Canadian Prime Rate Loan for all </P>
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purposes, except that payments thereon (including interest thereon) shall be made to the Canadian Agent for its own account. The obligation of the Canadian Borrower to repay Swingline Loans shall
be evidenced by the records of Canadian Agent and need not be evidenced by any promissory note. Any notice from the Canadian Borrower requesting a Swingline Loan must be received by the Canadian Agent no later than 1:00 p.m. on the Business Day of
the requested funding date. Any Swingline Loan requested by the Canadian Borrower shall be in a minimum amount of $25,000 in the case of a Base Rate Loan or Cdn. $25,000 in the case of a Canadian Prime Rate Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) To facilitate administration of the Loans, the Revolver Lenders and Agents agree (which agreement is solely among them, and not for the
benefit of or enforceable by any Borrower) that settlement among them with respect to Swingline Loans and other Revolver Loans may take place periodically on a date determined from time to time by the Applicable Agent, which shall occur at least on
a weekly basis. On each settlement date, settlement shall be made with each Revolver Lender in accordance with the Settlement Report delivered by the Applicable Agent to the Revolver Lenders. Between settlement dates, the Administrative Agent may in
its discretion apply payments on US Revolver Loans to Swingline Loans for the account of the US Borrower and the Canadian Agent may apply payments on Canadian Revolver Loans to Swingline Loans for the account of the Canadian Borrower, regardless of
any designation by the Borrowers or any provision herein to the contrary. Each Revolver Lender&#146;s obligation to make settlements with the Applicable Agent is absolute and unconditional, without offset, counterclaim or other defense, and whether
or not the US Revolver Commitments or Canadian Revolver Commitments have terminated, a US Revolver Overadvance or a Canadian Revolver Overadvance exists, or the conditions in <B>Section&nbsp;6</B> are satisfied. If, due to an Insolvency Proceeding
with respect to the US Borrower or otherwise, any Swingline Loan for the account of the US Borrower may not be settled among the US Revolver Lenders hereunder, then each US Revolver Lender shall be deemed to have purchased from the Administrative
Agent a Pro Rata participation in each such unpaid Swingline Loan and shall transfer the amount of such participation to the Administrative Agent, in immediately available funds, within one Business Day after the Administrative Agent&#146;s request
therefor. If, due to an Insolvency Proceeding with respect to the Canadian Borrower or otherwise, any Swingline Loan for the account of the Canadian Borrower may not be settled among the Canadian Revolver Lenders hereunder, then each Canadian
Revolver Lender shall be deemed to have purchased from the Canadian Agent a Pro Rata participation in each such unpaid Swingline Loan and shall transfer the amount of such participation to the Canadian Agent, in immediately available funds, within
one Business Day after the Administrative Agent&#146;s request therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.1.4. <U>Notices</U></B>. Each Borrower authorizes the
Applicable Agent and the Lenders to extend, convert or continue Loans, effect selections of interest rates, and transfer funds to or on behalf of the Borrowers based on telephonic or other e-mailed, electronic or internet-based instructions in form,
in each case, acceptable to the Administrative Agent and the Borrowers. The Borrowers shall confirm each such request by prompt delivery to the Administrative Agent of a Notice of Borrowing or Notice of Conversion/Continuation, if applicable, but if
it differs in any material respect from the action taken by the Applicable Agent or the applicable Lenders, the records of the Applicable Agent and such Lenders shall govern. Neither any Agent nor any Lender shall have any liability for any loss
suffered by a Borrower as a result of any Agent or any Lender acting upon its understanding of telephonic or other e-mailed, electronic or internet-based instructions in form, in each case, reasonably acceptable to the Applicable Agent and the
Borrowers, from a person believed in good faith by any Agent or any Lender to be a person authorized to give such instructions on a Borrower&#146;s behalf. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.2. <U>Defaulting Lender</U>.</B> <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.2.1.</B> If a Lender is a Defaulting Lender, the Applicable Agent may (but shall not be required to), in its discretion, retain payments
that would otherwise be made to such Defaulting Lender </P>
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hereunder, apply the payments to such Lender&#146;s defaulted obligations or readvance the funds to the Borrowers in accordance with this Agreement. The failure of any Lender to fund a Loan or to
make a payment in respect of a US LC Obligation or Canadian LC Obligation shall not relieve any other Lender of its obligations hereunder, and no Lender shall be responsible for default by another Lender. The Lenders and the Agents agree (which
agreement is solely among them, and not for the benefit of or enforceable by any Borrower) that, solely for purposes of determining a Defaulting Lender&#146;s right to vote on matters relating to the Loan Documents and to share in payments, fees and
Collateral proceeds thereunder, a Defaulting Lender shall not be deemed to be a &#147;Lender&#148; until all its defaulted obligations have been cured. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>4.2.2.</B> Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until
such time as that Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) that Defaulting Lender
(i)&nbsp;shall not be entitled to receive any Unused Fee pursuant to <B>Section&nbsp;3.2.1</B> for any period during which that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been
required to have been paid to that Defaulting Lender) and (ii)&nbsp;shall be limited in its right to receive Letter of Credit Fees as provided in <B>Section&nbsp;3.2.2</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) for purposes of computing the amount of the obligation of each non-Defaulting Lender that is a US Lender to acquire, refinance or fund
participations in Letters of Credit or Swingline Loans pursuant to <B>Sections 2.3</B> or <B>4.1</B>, the &#147;Pro Rata&#148; share or participation of each non-Defaulting Lender that is a US Lender shall be computed without giving effect to the US
Revolver Commitment of that Defaulting Lender; <U>provided</U>, that, (i)&nbsp;each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and
(ii)&nbsp;the aggregate obligation of each non-Defaulting Lender that is a US Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans shall not exceed the lesser of (A)&nbsp;the positive difference, if any, of
(1)&nbsp;the US Revolver Commitment of that non-Defaulting Lender, <U>minus</U> (2)&nbsp;the amount of the Total US Revolver Outstandings of that non-Defaulting Lender and (B)&nbsp;the positive difference, if any, of, (1)&nbsp;the Total Affiliate
Commitment of that non-Defaulting Lender, <U>minus</U> (2)&nbsp;the amount of the Total Revolver Outstandings of that non-Defaulting Lender and its Canadian Lender Affiliate and branch. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) for purposes of computing the amount of the obligation of each non-Defaulting Lender that is a Canadian Lender to acquire, refinance or
fund participations in Letters of Credit or Swingline Loans pursuant to <B>Sections 2.3</B> or <B>4.1</B>, the &#147;Pro Rata&#148; share or participation of each non-Defaulting Lender that is a Canadian Lender shall be computed without giving
effect to the Canadian Revolver Commitment of that Defaulting Lender; <U>provided</U>, that, (i)&nbsp;each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default
exists; and (ii)&nbsp;the aggregate obligation of each non-Defaulting Lender that is a Canadian Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans shall not exceed the lesser of (A)&nbsp;the positive
difference, if any, of (1)&nbsp;the Canadian Revolver Commitment of that non-Defaulting Lender, <U>minus</U> (2)&nbsp;the amount of the Total Canadian Revolver Outstandings of that non-Defaulting Lender and (B)&nbsp;the positive difference, if any,
of, (1)&nbsp;the Total Affiliate Commitment of that non-Defaulting Lender, <U>minus</U> (2)&nbsp;the amount of the Total Revolver Outstandings of that non-Defaulting Lender and its US Lender Affiliate and branch. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.3. <U>Number and Amount of LIBOR Loans and Canadian BA Rate Loans; Determination of Rate</U>.</B> For ease of administration,
(a)&nbsp;all LIBOR Loans for the account of the US Borrower having the same length and beginning date of their Interest Periods shall be aggregated together, and such Loans shall be allocated among the US Lenders on a Pro Rata basis, (b)&nbsp;all
LIBOR Loans for the </P>
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account of the Canadian Borrower having the same length and beginning date of their Interest Periods shall be aggregated together, and such Loans shall be allocated among the Canadian Lenders on
a Pro Rata basis; and (c)&nbsp;all Canadian BA Rate Loans having the same length and beginning date of their Interest Periods shall be aggregated together, and such Loans shall be allocated among the Canadian Lenders on a Pro Rata basis. No more
than fifteen (15)&nbsp;LIBOR Loans and Canadian BA Rate Loans, in the aggregate, may be outstanding at any time, and (i)&nbsp;each aggregate LIBOR Loan when made, continued or converted shall be in a minimum amount of $500,000, or an increment of
$100,000 in excess thereof and (ii)&nbsp;each aggregate Canadian BA Rate Loan when made, continued or converted shall be in a minimum amount of Cdn. $500,000, or an increment of Cdn. $100,000 in excess thereof. Upon determining Adjusted LIBOR or the
Canadian BA Rate for any Interest Period requested by the Borrowers, the Applicable Agent shall promptly notify the Borrowers thereof by telephone or electronically and, if requested by the Borrowers, shall confirm any telephonic notice in writing.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.4. <U>The Borrower Agent</U>.</B> Each Borrower hereby designates the US Borrower (&#147;<U>Borrower Agent</U>&#148;) as its
representative and agent for all purposes under the Loan Documents, including requests for Loans and Letters of Credit, designation of interest rates, delivery or receipt of communications with any Agent, any Issuing Bank or any Lender, preparation
and delivery of Borrowing Base Certificates and financial reports, receipt and payment of Obligations, requests for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants),
and all other dealings with any Agent, any Issuing Bank or any Lender. The Borrower Agent hereby accepts such appointment. The Agents, the Issuing Banks and the Lenders shall be entitled to rely upon, and shall be fully protected in relying upon,
any notice or communication (including any notice of borrowing) delivered by the Borrower Agent on behalf of any Borrower. The Agents, the Issuing Banks and the Lenders may give any notice or communication with a Borrower hereunder to the Borrower
Agent on behalf of such Borrower. The Agents shall have the right, in their discretion, to deal exclusively with the Borrower Agent for any or all purposes under the Loan Documents. Each Borrower agrees that any notice, election, communication,
representation, agreement or undertaking made on its behalf by the Borrower Agent shall be binding upon and enforceable against it. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.5. <U>Effect of Termination</U>.</B> On the effective date of any termination of the Commitments, all Obligations shall be immediately
due and payable, and any Lender may terminate its and its Affiliates&#146; or branches&#146; Bank Products (including, with the consent of the Administrative Agent, any Cash Management Services). All undertakings of the Borrowers contained in the
Loan Documents shall survive any termination, and the Applicable Agent shall retain its Liens in the Collateral and all of its rights and remedies under the Loan Documents until the Full Payment of the Obligations (including all accrued and unpaid
principal, interest and fees, and any other Obligations then due and owing, the payment of any appropriate collateral deposits in connection with other Obligations and the occurrence of the Commitment Termination Date). Notwithstanding such Full
Payment of the Obligations (including all accrued and unpaid principal, interest and fees, and any other Obligations then due and owing), the payment of any appropriate collateral deposits in connection with other Obligations and the occurrence of
the Commitment Termination Date, no Agent shall be required to terminate its Liens in any Collateral unless, with respect to any damages such Agent may incur as a result of the dishonor or return of Payment Items applied to Obligations, such Agent
receives (a)&nbsp;a written agreement, executed by the Borrowers and any Person whose advances are used in whole or in part to satisfy the Obligations, indemnifying the Agents, the Issuing Banks and the Lenders from any such damages; or
(b)&nbsp;such Cash Collateral as such Agent, in its discretion, deems necessary to protect against any such damages; or (c)&nbsp;such other protections as such Agent in its discretion, deems necessary to protect against any such damages. The
provisions of <B>Sections 2.3, 3.4, 3.6, 3.7, 3.9, 4.5, 5.4, 5.8, 12, </B>and <B>14.2</B>, and the obligation of each Loan Party and the Lender with respect to each indemnity given by it in any Loan Document, shall survive Full Payment of the
Obligations and any release relating to this credit facility. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 5. PAYMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.1. <U>General Payment Provisions</U>.</B> All payments of Obligations shall be made in Dollars (except as otherwise provided in
<B>Section&nbsp;5.10</B>), without condition, offset, counterclaim, recoupment or defense of any kind, free of (and without deduction for) any Taxes, and in immediately available funds, not later than 2:00 p.m. on the due date. Any payment after
such time shall be deemed made on the next Business Day. The Borrowers may, at the time of payment, specify to the Applicable Agent the Obligations to which such payment is to be applied, but the Applicable Agent shall in all events retain the right
to apply such payment in such manner as the Applicable Agent, subject to the provisions hereof, may determine to be appropriate. If any payment under the Loan Documents shall be stated to be due on a day other than a Business Day, the due date shall
be extended to the next Business Day and such extension of time shall be included in any computation of interest and fees. Any payment of a LIBOR Loan or a Canadian BA Rate Loan prior to the end of its Interest Period shall be accompanied by all
amounts due under <B>Section&nbsp;3.9</B>. Any prepayment of the US Revolver Loans or Canadian Revolver Loans denominated in Dollars shall be applied first to Base Rate Loans and then to LIBOR Loans. Any prepayment of the Canadian Revolver Loans
denominated in Canadian Dollars shall be applied first to Canadian Prime Rate Loans and then to Canadian BA Rate Loans. Unless the Applicable Agent shall have received notice from a Borrower prior to the time at which any payment is due to the
Applicable Agent for the account of the Applicable Lenders or the Issuing Banks hereunder that such Borrower will not make such payment, the Applicable Agent may assume that such Borrower has made such payment on such date in accordance herewith and
may, in reliance upon such assumption, distribute to the Applicable Lenders or the applicable Issuing Bank, as the case may be, the amount due. In such event, if a Borrower has not in fact made such payment, then each of the Applicable Lenders or
the applicable Issuing Bank, as the case may be, severally agrees to repay to the Applicable Agent forthwith on demand the amount so distributed to such Lender or such Issuing Bank, in immediately available funds with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of payment to the Applicable Agent, at the greater of the Federal Funds Rate (or, with respect to Canadian Lenders, the Bank of Canada overnight rate) and a rate
determined by the Applicable Agent in accordance with banking industry rules on interbank compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.2. <U>Repayment of
Loans</U>.</B> The Loans and all other Obligations shall be due and payable in full on the Termination Date, unless payment is sooner required hereunder. The US Borrower promises to pay on the Termination Date, or on such earlier date as payment is
required hereunder, and there shall become absolutely due and payable on such date, all of the US Revolver Loans and US LC Obligations outstanding on such date, together with any and all accrued and unpaid interest thereon and all other fees and
other amounts then accrued and outstanding with respect thereto. The Canadian Borrower promises to pay on the Termination Date, or on such earlier date as payment is required hereunder, and there shall become absolutely due and payable on such date,
all of the Canadian Revolver Loans and the Canadian LC Obligations outstanding on such date, together with any and all accrued and unpaid interest thereon and all other fees and other amounts then accrued and outstanding with respect thereto. The
Loans may be prepaid in accordance with <B>Section&nbsp;5.1</B> and <B>Section&nbsp;5.5</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.3. <U>Payment of Other
Obligations</U>.</B> Obligations other than Loans, including US LC Obligations, Canadian LC Obligations and Extraordinary Expenses, shall be paid by the Borrowers as provided in the Loan Documents or, if no payment date is specified, promptly upon
receipt by the Borrowers of notice of the amounts due in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.4. <U>Marshaling; Payments Set Aside</U>.</B> None of
the Agents or the Lenders shall be under any obligation to marshal any assets in favor of any Loan Party or against any Obligations. If any Loan Party makes a payment to the Agents or the Lenders, or if any Agent or any Lender receives payment from
the proceeds of Collateral, the Montrovest LC, exercise of setoff or otherwise, and such payment is subsequently invalidated or required to be repaid to a trustee, receiver or any other Person, then the
</P>
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Obligations originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such payment had not been received and
any enforcement or setoff had not occurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.5. <U>Allocation of Payments</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.5.1. <U>Pre-Default Allocation of Payments (US Concentration Account, etc.)</U></B>. Notwithstanding anything herein to the contrary, at
all times when no Event of Default has occurred and is continuing, all funds transferred to the US Concentration Account and for which the US Borrower has received credits, together with all payments to be initially applied to the US Obligations,
whether arising from payments by the Loan Parties, realization on Collateral, setoff or otherwise, shall be applied to the Obligations as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>first</U>, pro rata to all costs and expenses (including Extraordinary Expenses) constituting US Obligations, owing to the
Administrative Agent and the Co-Collateral Agents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>second</U>, to all amounts owing to the Administrative Agent on Swingline
Loans, US Revolver Overadvances and Protective Advances, in each case, advanced to the US Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>third</U>, to all Obligations
constituting fees owing to the US Lenders in their capacity as the US Lenders (excluding amounts relating to Bank Products); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)
<U>fourth</U>, to all Obligations constituting interest on US Revolver Loans (excluding amounts relating to Bank Products); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)
<U>fifth</U>, pro rata to all Obligations constituting principal of US Revolver Loans (excluding amounts relating to Bank Products) and to all amounts owing to any Issuing Bank on US LC Obligations; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>sixth</U>, to all other Obligations owing to the US Lenders in their capacity as the US Lenders (excluding Bank Product Debt); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>seventh</U>, to the Obligations pursuant to clauses (a)&nbsp;through (f)&nbsp;of <B>Section&nbsp;5.5.2</B> below; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>eighth</U>, to all other Obligations owing to the Secured Parties (other than Bank Product Debt); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>ninth</U>, to Bank Product Debt constituting Obligations owing to the Lenders and their Affiliates and branches for which a Bank
Product Reserve has been established; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>tenth</U>, to Bank Product Debt constituting Obligations owing to the Lenders and their
Affiliates and branches for which a Bank Product Reserve has not been established. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amounts shall be applied to each category of Obligations set forth
above until the payment in full thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Amounts distributed with respect to any Bank
Product Debt, US LC Obligations or Canadian LC Obligations shall be the lesser of the applicable US LC Obligations, Canadian LC Obligations or Bank Product Amount last reported to the Agents or the actual US LC Obligations, Canadian LC Obligations
or Bank Product Debt as calculated by the methodology reported to the Agents for determining the amount due. The Agents shall have no obligation to calculate the amount </P>
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to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a reasonably detailed calculation) from the Secured Party. In the absence of
such notice, the Agents may assume the amount to be distributed is the Bank Product Amount last reported to it. The allocations set forth in this<B> Section&nbsp;5.5.1</B> are solely to determine the rights and priorities of the Agents and the
Lenders as among themselves, and may be changed by agreement among them without the consent of any Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.5.2. <U>Pre-Default
Allocation of Payments (Canadian Concentration Accounts, etc.)</U></B>. Notwithstanding anything herein to the contrary, at all times when no Event of Default has occurred and is continuing, all funds transferred to the Canadian Concentration
Accounts and for which the Canadian Borrower has received credits, together with all payments to be initially applied to the Canadian Obligations, whether arising from payments by the Loan Parties, realization on Collateral, setoff or otherwise,
shall be applied to the Obligations as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>first</U>, pro rata to all costs and expenses (including Extraordinary Expenses)
constituting Canadian Obligations, owing to the Canadian Agent and the Co-Collateral Agents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>second</U>, to all amounts owing to
the Canadian Agent on Swingline Loans, Canadian Revolver Overadvances and Protective Advances, in each case advanced to the Canadian Borrower; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>third</U>, to all Obligations constituting fees owing to the Canadian Lenders in their capacity as the Canadian Lenders (excluding
amounts relating to Bank Products); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>fourth</U>, to all Obligations constituting interest on the Canadian Revolver Loans (excluding
amounts relating to Bank Products); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>fifth</U>, pro rata to all Obligations constituting principal of the Canadian Revolver Loans
(excluding amounts relating to Bank Products) and to all amounts owing to any Issuing Bank on Canadian LC Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>sixth</U>,
to all other Obligations owing to the Canadian Lenders in their capacity as the Canadian Lenders (excluding Bank Product Debt); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)
<U>seventh</U>, to the Obligations pursuant to clauses (a)&nbsp;through (f)&nbsp;of <B>Section&nbsp;5.5.1</B> above; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>eighth</U>,
to all other Obligations owing to the Secured Parties (other than Bank Product Debt); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>ninth</U>, to the Obligations pursuant
to clauses (i)&nbsp;through (j)&nbsp;of <B>Section&nbsp;5.5.1</B> above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amounts shall be applied to each category of Obligations set forth above until
the payment in full thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Amounts distributed with respect to any Bank Product Debt,
US LC Obligations or Canadian LC Obligations shall be the lesser of the applicable US LC Obligations, Canadian LC Obligations or Bank Product Amount last reported to the Agents or the actual US LC Obligations, Canadian LC Obligations or Bank Product
Debt as calculated by the methodology reported to the Agents for determining the amount due. The Agents shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the
amount (setting forth a reasonably detailed calculation) from the Secured Party. In the absence of such notice, the </P>
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Agents may assume the amount to be distributed is the Bank Product Amount last reported to it. The allocations set forth in this<B> Section&nbsp;5.5.2</B> are solely to determine the rights and
priorities of the Agents and the Lenders as among themselves, and may be changed by agreement among them without the consent of any Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.5.3. <U>Post-Default Allocation of Payments</U></B>. Notwithstanding anything herein to the contrary (but subject to the Intercreditor
Agreement), during an Event of Default, all funds transferred to the Concentration Accounts and for which the applicable Borrower has received credits, together with all monies received by the Administrative Agent, the Canadian Agent or any Lender,
whether arising from payments by the Loan Parties, realization on Collateral, the Montrovest LC, setoff or otherwise, shall be allocated as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>first</U>, pro rata to all costs and expenses (including Extraordinary Expenses) owing to the Agents and the Co-Collateral Agents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>second</U>, to all amounts owing to the Agents on Swingline Loans, US Revolver Overadvances, Canadian Revolver Overadvances and
Protective Advances; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>third</U>, to all Obligations constituting fees owing to the Lenders (excluding amounts relating to Bank
Products); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>fourth</U>, to all Obligations constituting interest on Revolver Loans (excluding amounts relating to Bank Products);
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>fifth</U>, pro rata to all Obligations constituting principal of Revolver Loans (excluding amounts relating to Bank Products), to
all amounts owing to the Issuing Banks on US LC Obligations and Canadian LC Obligations and to provide Cash Collateral for outstanding Letters of Credit; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>sixth</U>, to all other Obligations (other than Bank Product Debt); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>seventh</U>, to Bank Product Debt constituting Obligations for which a Bank Product Reserve has been established; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>eighth</U>, to Bank Product Debt constituting Obligations for which a Bank Product Reserve has not been established. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amounts shall be applied to each category of Obligations set forth above until the payment in full thereof and then to the next category. If amounts are
insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Amounts distributed with respect to any Bank Product Debt, US LC Obligations or Canadian LC Obligations shall be the lesser of the
applicable US LC Obligations, Canadian LC Obligations or Bank Product Amount last reported to the Agents or the actual US LC Obligations, Canadian LC Obligations or Bank Product Debt as calculated by the methodology reported to the Agents for
determining the amount due. The Agents shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a reasonably detailed calculation) from
the Secured Party. In the absence of such notice, the Agents may assume the amount to be distributed is the Bank Product Amount last reported to it. The allocations set forth in this<B> Section&nbsp;5.5.3</B> are solely to determine the rights and
priorities of the Agents and the Lenders as among themselves, and may be changed by agreement among them without the consent of any Loan Party. This <B>Section&nbsp;5.5.3 </B>is not for the benefit of or enforceable by any Loan Party. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.5.4. <U>Erroneous Application</U></B>. No Agent shall be liable for any application of
amounts made by it in error (unless it has been determined in a final, non-appealable judgment by a court of competent jurisdiction that such error was a result of the gross negligence or willful misconduct of such Agent) and if any such application
is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made (unless it has been determined in a final, non-appealable judgment by a court of competent jurisdiction
that such error was a result of the gross negligence or willful misconduct of such Agent) shall be to recover the amount from the Person that actually received it (and, if such amount was received by any Lender, such Lender hereby agrees to return
it). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.6. <U>Application of Payments</U></B>. All funds and cash proceeds in the form of money, checks and like items received in the
Concentration Accounts shall be credited, on the next Business Day on which the Agents determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good
collected funds, and applied as contemplated by <B>Section&nbsp;5.5</B>. All funds and cash proceeds in the form of a wire transfer received in the Concentration Accounts shall be credited on the next Business Day following the Applicable
Agent&#146;s receipt of such amounts (or up to such later date as the Agents determine that good collected funds have been received), and applied as contemplated by <B>Section&nbsp;5.5</B>. All funds and cash proceeds in the form of an automated
clearing house transfer received in the Concentration Accounts shall be credited, on the next Business Day following the Applicable Agent&#146;s receipt of such amounts (or up to such later date as the Administrative Agent determines that good
collected funds have been received), and applied as contemplated by<B> Section&nbsp;5.5</B>. For purposes of the foregoing provisions of this <B>Section&nbsp;5.6</B>, the Applicable Agent shall not be deemed to have received any such funds or cash
proceeds on any day unless received by the Applicable Agent before 2:00 p.m. (Boston time) on such day. The Borrowers further acknowledge and agree that any such provisional credits or credits in respect of wire or automatic clearing house funds
transfers shall be subject to reversal if final collection in good funds of the related item is not received by, or final settlement of the funds transfer is not made in favor of, the Applicable Agent in accordance with the Applicable Agent&#146;s
customary procedures and practices for collecting provisional items or receiving settlement of funds transfers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.7. <U>Loan Account;
Account Stated</U></B>.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.7.1. <U>Loan Account</U></B>. The Applicable Agent shall maintain in accordance with its usual and
customary practices an account or accounts (&#147;<U>Loan Account</U>&#148;) evidencing the Debt of the Borrowers resulting from each Loan or issuance of a Letter of Credit from time to time. Any failure of any Agent to record anything in the Loan
Account, or any error in doing so, shall not limit or otherwise affect the obligation of the Borrowers to pay any amount owing hereunder. The Agents may maintain a single Loan Account in the name of the Borrower Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.7.2. <U>Entries Binding</U></B>. Entries made in the Loan Account shall constitute presumptive evidence of the information contained
therein. If any information contained in the Loan Account is provided to or inspected by any Person, then such information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person
notifies the Applicable Agent in writing within 30 days after receipt or inspection that specific information is subject to dispute. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.8. <U>Taxes</U>.</B> <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.8.1. <U>Generally</U></B>. If any Taxes (except Excluded Taxes) shall be payable by any party due to the execution, delivery, issuance or
recording of any Loan Documents, or the creation or repayment of any Obligations, the [<STRIKE>Borrowers</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Loan Parties</B></U> shall pay (and shall promptly reimburse the Agents and
the Lenders for their payment of) all such Taxes, including any interest and penalties thereon, and will </P>
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indemnify and hold harmless Indemnitees against all liability in connection therewith. <B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Without limiting the foregoing provisions, the
Loan Parties shall timely pay any Other Taxes to the relevant Governmental Authority, or at the option of the Administrative Agent timely reimburse it for the payment of any Other Taxes, in accordance with Applicable Law.</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.8.2. <U>Withholding Taxes</U></B>. All payments to the Agents or the Lenders (or any successor or assignee thereof) by
<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>or on account of </B></U>a Loan Party under this Agreement or any other Loan Document shall be made free and clear of and without deduction or withholding for any and all Taxes
[<STRIKE>(other than Excluded Taxes) </STRIKE>]unless required by Applicable Law. If any Loan Party shall be required by Applicable Law to withhold or deduct any Taxes [<STRIKE>(except Excluded Taxes) </STRIKE>]with respect to any sum payable under
any Loan Documents, (a)<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>&nbsp;if such Taxes are Indemnified Taxes,</B></U> the sum payable to such Agent or such Lender shall be increased as may be necessary so that, after making all
required withholding or deductions (including withholding or deduction applicable to additional amounts paid under this <B>Section&nbsp;5.8.2</B>), such Agent or such Lender (as the case may be) receives an amount equal to the sum it would have
received had no such withholding or deductions been made; (b)&nbsp;such Loan Party shall make such withholding or deductions; and (c)&nbsp;such Loan Party shall pay the full amount withheld or deducted to the relevant taxing or other authority in
accordance with Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.8.3. <U>Indemnity</U></B>. Each Loan Party shall indemnify and hold harmless each of the Lenders and
each Agent for the full amount of <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Indemnified </B></U>Taxes[<STRIKE> (other than Excluded Taxes)</STRIKE>] imposed on or paid by such Lender or such Agent and any liability (including
penalties, interest and expenses payable or incurred in connection therewith) arising from or with respect to such Taxes, whether or not they were correctly or legally asserted. Payment under this indemnification shall be made within 30 days from
the date the relevant Agent or the relevant Lender, as the case may be, makes written demand for it. A certificate containing reasonable detail as to the amount of such Taxes submitted to the relevant Loan Party by the relevant Agent or the relevant
Lender shall be conclusive evidence, absent manifest error, of the amount due from such Borrower to such Agent or such Lender, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.8.4. [Reserved]</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>5.8.5. <U>Survival</U></B>. Notwithstanding anything contained herein to the contrary, the provisions of this <B>Section&nbsp;5.8</B> shall
survive the expiration or termination of this Agreement and the other Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.9. <U>Withholding Tax Exemption</U>.</B> At
least five Business Days prior to the first date for payment of interest or fees hereunder to a Foreign Lender, the Foreign Lender shall, if applicable, deliver to the Borrowers and the Agents two duly completed copies of IRS Form W-8BEN or W-8ECI
(or any subsequent replacement or substitute form therefor), certifying that such Lender can receive payment of Obligations without deduction or withholding of any United States federal income taxes. Each Foreign Lender shall deliver to the
Borrowers and the Agents two additional copies of such form before the preceding form expires or becomes obsolete or after the occurrence of any event requiring a change in the form, as well as any amendments, extensions or renewals thereof as may
be reasonably requested by the Borrowers or the Agents, in each case, certifying that the Foreign Lender can receive payment of Obligations without deduction or withholding of any such taxes, unless an event (including any change in treaty or law)
has occurred that renders such forms inapplicable or prevents the Foreign Lender from certifying that it can receive payments without deduction or withholding of such taxes. During any period that a Foreign Lender does not or is unable to establish
that it can receive payments without deduction or withholding of such taxes, other than by reason of an event (including any change in treaty or law) that occurs after it becomes a Lender, the Applicable Agent may withhold taxes from payments to
such Foreign Lender at the applicable statutory and treaty rates, and the Borrowers shall not be required to pay any additional amounts under <B>Section&nbsp;5.8 </B>or this <B>Section&nbsp;5.9 </B>as a result of such withholding. Each Lender or
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Agent that is organized under the laws of the United States, or any state or district thereof shall provide to the US Borrower (and in the case of a Lender, to the Applicable Agent) two duly
executed copies of IRS Form W-9. In the event that any Lender or any Agent does not comply with the requirements of this <B>Section&nbsp;5.9</B>, the relevant Borrower may withhold taxes from payments to such Lender or such Agent as required by
Applicable Law. In the event of the resignation of the Applicable Agent pursuant to <B>Section&nbsp;12.8</B> hereunder, the successor Applicable Agent shall be subject to the provisions of this <B>Section&nbsp;5.9</B> in the same manner as a its
predecessor Applicable Agent, and shall be required to provide the appropriate IRS Form W-8BEN or W-8ECI to the US Borrower as required in this <B>Section&nbsp;5.9</B>. In the event that the successor Applicable Agent does not comply with the
requirements of this <B>Section&nbsp;5.9</B>, the Borrowers may withhold taxes from payments to such successor Applicable Agent as required by Applicable Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.10. <U>Currency Matters</U></B>. Dollars are the currency of account and payment for each and every sum at any time due from the
Borrowers hereunder; <U>provided</U> that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) except as expressly provided in this Agreement, each repayment of a Loan or
a part thereof shall be made in the currency in which such Loan is denominated at the time of that repayment; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) each
payment of interest shall be made in the currency in which such principal or other sum in respect of which such interest is payable, is denominated; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) each payment of any Letter of Credit Fees payable by the US Borrower (and any other fees payable by the US Borrower under
<B>Section&nbsp;3.2.2</B>), Unused Fees payable by the US Borrower and all other amounts due hereunder (unless the provisions of the Agreement require otherwise) shall be in Dollars; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) each (i)&nbsp;payment of any Letter of Credit Fees payable by the Canadian Borrower in respect of Letters of Credit
denominated in Canadian Dollars (and any other fees payable by the Canadian Borrower under <B>Section&nbsp;3.2.2</B> in respect thereof) shall be in Canadian Dollars and (ii)&nbsp;payment of any Letter of Credit Fees payable by the Canadian Borrower
in respect of Letters of Credit denominated in Dollars (and any other fees payable by the Canadian Borrower under <B>Section&nbsp;3.2.2</B> in respect thereof) shall be in Dollars; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) each payment in respect of costs, expenses and indemnities shall be made in the currency in which the same were incurred;
and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any amount expressed to be payable in Canadian Dollars shall be paid in Canadian Dollars. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No payment to any Agent or any Lender (whether under any judgment or court order or otherwise) shall discharge the obligation or liability in
respect of which it was made unless and until such Agent or such Lender shall have received payment in full in the currency in which such obligation or liability was incurred, and to the extent that the amount of any such payment shall, on actual
conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, each Borrower agrees to indemnify and hold harmless such Agent or such Lender, as the case may be, with respect to the amount
of the shortfall with respect to amounts payable by such Borrower hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which
resulted in the shortfall. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 6. CONDITIONS PRECEDENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.1. <U>Conditions Precedent to Effectiveness of this Agreement</U>.</B> In addition to the conditions set forth in <B>Section&nbsp;6.2</B>,
this Agreement shall not be effective and the Lenders shall not be required to fund any requested Loan, issue any Letter of Credit, or otherwise extend credit to the Borrowers hereunder until the date (&#147;<U>Closing Date</U>&#148;) that each of
the following conditions has been satisfied (in each case, in form and substance satisfactory to the Agents and each of the Lenders), unless the Administrative Agent, in its sole discretion, determines that the satisfaction of one or more of the
following conditions precedent may be satisfied on a post-closing basis pursuant to the Post-Closing Agreement: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Notes shall have been
executed by the Borrowers and delivered to each Lender that requests issuance of a Note. Each other Loan Document shall have been duly executed and delivered to the Administrative Agent by each of the signatories thereto, and each Loan Party shall
be in compliance with all terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Agents shall be satisfied that the Security Documents shall be effective to create in
favor of the Applicable Agent a legal, valid and enforceable first priority security interest in and Lien upon the Collateral and shall have received (i)&nbsp;evidence that all filings, recordings, deliveries of instruments and other actions
necessary or desirable in the commercially reasonable opinion of the Agents to protect and preserve such security interests shall have been duly effected, (ii)&nbsp;UCC, PPSA and Lien searches (and the equivalent thereof in all applicable foreign
jurisdictions) and other evidence reasonably satisfactory to the Agents that such Liens are the only Liens upon the Collateral, except Permitted Liens, (iii)&nbsp;evidence that the payment (or evidence of provision for payment) of all filing and
recording fees and taxes due and payable in respect thereof has been made in form and substance reasonably satisfactory to the Administrative Agent, (iv)&nbsp;all Lien Waivers and Lien Priority Agreements (to the extent not previously received)
necessary or desirable in the reasonable opinion of the Administrative Agent, and (v)&nbsp;a completed and fully executed information certificate with respect to each Loan Party substantially in the form of <B>Exhibit F</B> hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Administrative Agent shall have received executed copies of the Term Loan Agreement, the Quebec Subordinated Debt Documents, the Rolex
Documents, the Management Agreement, the Damiani Debt Documents and the Montrovest Debt Documents certified by a Senior Officer of the Borrowers as complete and correct (with such certification to be in such Person&#146;s capacity as a Senior
Officer of the Borrowers and not in such Person&#146;s individual capacity), which documents shall be in full force and effect and without amendment except attached thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Canadian Agent shall have received duly executed estoppel letters with respect to consignment filings on record in any province in
Canada (to the extent not previously received). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Administrative Agent shall have received a certificate, in form and substance
reasonably satisfactory to it, from a Senior Officer of each Borrower (with such certification to be in such Person&#146;s capacity as a Senior Officer of such Borrower and not in such Person&#146;s individual capacity) certifying that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) after giving effect to the Loans and transactions hereunder and under the Term Loan Documents, (A)&nbsp;each Loan Party is
Solvent; (B)&nbsp;no Default or Event of Default exists; (C)&nbsp;the representations and warranties set forth in <B>Section&nbsp;9</B> are true and correct in all material respects; and (D)&nbsp;each Loan Party has complied in all material respects
with all agreements and conditions to be satisfied by it under the Loan Documents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) there is no action, suit,
investigation or proceeding pending or, to the knowledge of the Loan Parties, threatened in any court or before any arbitrator or governmental authority that could reasonably be expected to have a Material Adverse Effect; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) all Loans made by the Lenders to the Borrowers hereunder are and shall
remain in full compliance with the Federal Reserve&#146;s margin regulations and other similar Applicable Laws; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) no
law or regulation to which any Loan Party is subject is applicable to the transactions contemplated hereby which could reasonably be expected to have a Material Adverse Effect on any Loan Party or a Material Adverse Effect on the transactions
contemplated hereby; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) no Material Adverse Effect shall have occurred since March&nbsp;27, 2010; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) contemporaneously with the effectiveness of this Agreement, the transactions contemplated by the Term Loan Documents shall
have been consummated and the Borrowers shall have received not less than $5,500,000 additional gross cash proceeds therefrom (such that the aggregate principal amount of the Term Loan is $18,000,000 on the Closing Date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The Administrative Agent shall have received a certificate of a duly authorized officer of each Loan Party (with such certification to be
in such Person&#146;s capacity as an officer of such Loan Party and not in such Person&#146;s individual capacity), certifying (i)&nbsp;that such Loan Party&#146;s Organizational Documents have not been amended since December&nbsp;17, 2008 or such
later date that such Loan Party&#146;s Organizational Documents were so certified and delivered to the Administrative Agent (or, to the extent that any such amendments have occurred since any such date, that attached copies of such Loan Party&#146;s
Organizational Documents are true and complete and in full force and effect, without amendment except as shown) and remain in full force and effect, (ii)&nbsp;that an attached copy of resolutions authorizing execution and delivery of the Loan
Documents is true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to this credit facility, and (iii)&nbsp;to the
title, name and signature of each Person authorized to sign the Loan Documents. The Administrative Agent may conclusively rely on this certificate until it is otherwise notified by the applicable Loan Party in writing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Each of the Lenders and the Agents shall have received favorable legal opinions addressed to the Lenders and the Agents, dated as of the
Closing Date, in form and substance reasonably satisfactory to the Lenders and the Agents, from (i)&nbsp;Holland&nbsp;&amp; Knight LLP, US counsel to the Borrowers and their Subsidiaries; (ii)&nbsp;Stikeman Elliott LLP, Canadian counsel to the
Borrowers and their Subsidiaries; and (iii)&nbsp;local Canadian counsel to the Borrowers and their Subsidiaries with respect to filing and perfection matters in the applicable provinces and territories of Canada. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) The Administrative Agent shall have received good standing or subsistence certificates, as applicable, for each Loan Party, issued by the
Secretary of State or other appropriate official of such Loan Party&#146;s jurisdiction of organization dated as of a recent date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)
The Administrative Agent shall (i)&nbsp;be reasonably satisfied with the amount, types and terms and conditions of all insurance maintained by the Loan Parties and their Subsidiaries, and (ii)&nbsp;have received certificates of insurance identifying
insurers, types of insurance, insurance limits and policy terms and with endorsements naming the Applicable Agent, for the benefit of the Lenders, as lender&#146;s loss payee or additional insured, as applicable, with respect to each insurance
policy required to be maintained with respect to the Collateral and otherwise in form and substance reasonably satisfactory to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) The Administrative Agent shall have completed its business, financial and legal due diligence of the Loan Parties, with results reasonably
satisfactory to the Administrative Agent and the Administrative Agent shall be satisfied that no Material Adverse Effect shall have occurred since March&nbsp;27, 2010. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) The Borrowers shall have paid all fees and expenses to be paid to the Agents, the
Co-Collateral Agents and the Lenders on the Closing Date (including, without limitation, all fees, charges and disbursements of counsel, including local counsel, to the Agents and the Co-Collateral Agents to the extent invoiced prior to or on the
Closing Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) The Borrowers shall have consummated the transactions contemplated by the Term Loan Documents (including any
amendments thereof) and such documents shall be in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) The Administrative Agent shall have received a duly
executed copy of the Intercreditor Agreement, the Management Subordination Agreement and the Montrovest Subordination Agreement, each of which shall be in form and substance satisfactory to the Administrative Agent and which shall be in full force
and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) The Administrative Agent shall have received satisfactory evidence that, contemporaneously with the closing of the
transactions contemplated hereby, the Tranche A-1 Loans (as defined in the Existing Credit Agreement) shall be repaid in full in cash. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) The Administrative Agent shall have received a flow of funds, in form and substance satisfactory to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) [Reserved]. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) The
Administrative Agent shall have received a Borrowing Base Certificate indicating that Revolver Excess Availability as of the Closing Date, after giving effect to the transactions contemplated hereby (including all Loans and Letters of Credit to be
issued on the Closing Date), and by the Term Loan Documents, is not less than $10,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) The Administrative Agent shall have
received a certificate of a duly authorized officer of each Loan Party (with such certification to be in such Person&#146;s capacity as an officer of such Loan Party and not in such Person&#146;s individual capacity), either (i)&nbsp;attaching
copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses
and approvals shall be in full force and effect, or (ii)&nbsp;stating that no such consents, licenses or approvals are so required. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s)
The Administrative Agent shall have received (i)&nbsp;the audited financial statements of the Borrowers for the Fiscal Year ended on March&nbsp;27, 2010, (ii)&nbsp;the unaudited financial statements of the Borrowers for the Fiscal Year ended
March&nbsp;26, 2011 and (iii)&nbsp;forecasts prepared by management of the Borrowers of balance sheets, income statements and cash flow statements of the Borrowers on a monthly basis for the current Fiscal Year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.2. <U>Conditions Precedent to All Credit Extensions</U></B>. The Agents, the Issuing Bank and the Lenders shall not be required to fund
any Loans, arrange for issuance of any Letters of Credit or grant any other accommodation to or for the benefit of the Borrowers, unless the following conditions are satisfied: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Applicable Agent shall have received (i)&nbsp;with respect to any requested funding of any Loan, a Notice of Borrowing in accordance
with <B>Section&nbsp;4.1.1</B> or (ii)&nbsp;with respect to any requested issuance of a Letter of Credit, an LC Application and such other related documents in accordance with <B>Section&nbsp;2.3</B>; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No Default or Event of Default shall exist at the time of, or result from, such funding,
issuance or grant; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The representations and warranties of each Loan Party in the Loan Documents shall be true and correct in all
material respects on the date of, and upon giving effect to, such funding, issuance or grant (except for representations and warranties that expressly relate to an earlier date and except for changes therein which do not cause a violation of this
Agreement); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) All conditions precedent in any other Loan Document shall be satisfied; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) No event shall have occurred or circumstance exist that has or could reasonably be expected to have a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) With respect to issuance of a Letter of Credit, the US LC Conditions or the Canadian LC Conditions, as applicable, shall be satisfied;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) No change shall have occurred in any law or regulations thereunder or interpretations thereof (including &#147;currency
exchange&#148; laws, rules or regulations) that in the reasonable opinion of any Lender would make it illegal or impractical for such Lender to make such Loan or to participate in the issuance, extension or renewal of such Letter of Credit or in the
reasonable opinion of the Applicable Agent would make it illegal or impractical for the applicable Issuing Bank to issue, extend or renew such Letter of Credit; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Solely with respect to a request of Canadian Revolver Loans or a request for a Letter of Credit to be issued for the account or benefit of
the Canadian Borrower, no request by Canada Revenue Agency for payment pursuant to Section&nbsp;224(1.1) or any successor section of the ITA or any comparable provision of any other taxing statute shall have been received by any Person in respect of
the Borrowers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each request (or deemed request) by the Borrowers for funding of a Loan, issuance of a Letter of Credit or grant of an accommodation shall
constitute a representation by the Borrowers that the foregoing conditions are satisfied on the date of such request and on the date of such funding, issuance or grant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.3. <U>Limited Waiver of Conditions Precedent</U>.</B> If the Agents, the Issuing Banks or the Lenders fund any Loans, arrange for
issuance of any Letters of Credit or grant any other accommodation when any conditions precedent are not satisfied (regardless of whether the lack of satisfaction was known or unknown at the time), it shall not operate as a waiver of (a)&nbsp;the
right of the Agents, the Issuing Banks and the Lenders to insist upon satisfaction of all conditions precedent with respect to any subsequent funding, issuance or grant; nor (b)&nbsp;any Default or Event of Default due to such failure of conditions
or otherwise. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 7. COLLATERAL SECURITY AND GUARANTEES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.1. <U>Grant of Security Interest</U></B>. To secure the prompt payment and performance of all Obligations, each Loan Party hereby grants
to the Applicable Agent, for the benefit of the Secured Parties, a continuing security interest in and Lien upon all Property of such Loan Party, including all of the following Property, whether now owned or hereafter acquired, and wherever located:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) all Accounts; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) all
Chattel Paper, including electronic chattel paper; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) all Commercial Tort Claims, including, without limitation those Commercial Tort Claims
identified on <B>Schedule 7.1 </B>(as such Schedule may be updated by the Administrative Agent from time to time); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) all Deposit
Accounts; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) all Documents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) all General Intangibles, including Payment Intangibles, Software and Intellectual Property; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) all Goods, including Inventory, Equipment and Fixtures; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) all Instruments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) all
Investment Property; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) all Letter-of-Credit Rights; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) all Supporting Obligations; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) all monies, whether or not in the possession or under the control of an Agent, a Lender, or a bailee or Affiliate of an Agent or a Lender,
including any Cash Collateral; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) all accessions to, substitutions for, and all replacements, products, and cash and non-cash proceeds
of the foregoing, including proceeds of and unearned premiums with respect to insurance policies, and claims against any Person for loss, damage or destruction of any Collateral; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) all books and records (including customer lists, files, correspondence, tapes, computer programs, print-outs and computer records)
pertaining to the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.2. <U>Deposit Accounts; Cash Collateral; Credit Card Agreements</U></B>. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.2.1. <U>Bank Accounts</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) To further secure the prompt payment and performance of all Obligations, each Loan Party hereby grants to the Applicable Agent, for the
benefit of the Secured Parties, a continuing security interest in and Lien upon all of such Loan Party&#146;s right, title and interest in and to each Deposit Account of such Loan Party and any deposits or other sums at any time credited to any such
Deposit Account, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Loan Party authorizes and directs each bank or other depository to deliver, on a daily basis and pursuant to the
Applicable Agent&#146;s instructions, all balances in each Deposit Account (other than an Exempt Deposit Account) maintained by such Loan Party with such depository for application to the Obligations in accordance with <B>Section&nbsp;5.5</B>. Each
Loan Party irrevocably appoints the Applicable Agent as such Loan Party&#146;s attorney-in-fact to collect such balances to the extent any such delivery is not so made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Borrowers shall (i)&nbsp;at all times maintain the Concentration Accounts and (ii)&nbsp;request in writing and otherwise take all
reasonable steps to ensure that (A)&nbsp;all collections (including, without limitation, all Payment Items), together with any and all other proceeds received by any Loan Party (including, without limitation, proceeds received by any Loan Party in
connection with an issuance of Debt or Capital Stock, insurance proceeds, proceeds of sales and tax refunds) are made directly to the applicable </P>
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Concentration Account or a Dominion Account and (B)&nbsp;all balances in each Deposit Account (other than a Deposit Account constituting the Concentration Account) are transferred daily to the
applicable Concentration Account. If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral or any other proceeds described in this paragraph, it shall hold same in trust for the Applicable Agent and promptly (not
later than the next Business Day) deposit same into the applicable Concentration Account. All balances in the Concentration Accounts shall be applied to the Obligations pursuant to <B>Section&nbsp;5.5.</B> Notwithstanding anything to the contrary
contained herein, the parties acknowledge that, as of the Closing Date, the Deposit Accounts maintained at Royal Bank of Canada and Bank of Montreal are not subject to a Deposit Account Control Agreement; however, upon the request of the
Administrative Agent, the Loan Parties shall use commercially reasonable efforts to enter into a Deposit Account Control Agreement over such Deposit Accounts or shall close such accounts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)<B> Schedule 7.2.1</B> sets forth the account numbers and locations of all Deposit Accounts (and related lockbox arrangements) of each Loan
Party as of the Closing Date. Each Loan Party shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Applicable Agent and, subject to the Intercreditor Agreement, the Term Loan Agent) to have
control over a Deposit Account. Contemporaneously with the delivery of quarterly financial statements, each Loan Party shall notify the Administrative Agent of any opening or closing of a Deposit Account since the last such report (or, in the case
of the first such report, since the Closing Date) and will provide an updated <B>Schedule 7.2.1</B> to reflect the same. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Each
Concentration Account, each Dominion Account and each other Deposit Account into which Accounts from credit card processors are deposited and, following the occurrence and during the continuance of an Event of Default, at the request of the
Applicable Agent, any other Deposit Account (other than Exempt Deposit Accounts) shall be subject to control arrangements or lockbox or other arrangements reasonably acceptable to the Agents. Neither the Agents nor the Lenders assume any
responsibility to any Loan Party for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) No Loan Party shall, or shall cause or permit any Subsidiary to, accumulate or maintain cash in a disbursement account or payroll account,
as of any date of determination, in excess of checks outstanding against such account as of that date and amounts necessary to meet minimum balance requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.2.2. <U>Cash Collateral</U></B>. Any Cash Collateral may be invested, in each Applicable Agent&#146;s discretion, in Cash Equivalents,
but no Agent shall have any duty to do so, regardless of any agreement, understanding or course of dealing with any Loan Party, and shall have no responsibility for any investment or loss. Each Loan Party hereby grants to the Applicable Agent, for
the benefit of the Secured Parties, a security interest in and Lien upon all Cash Collateral held from time to time and all proceeds thereof, as security for the Obligations, whether such Cash Collateral is held in the Cash Collateral Account or
elsewhere. The Applicable Agent may apply Cash Collateral to the payment of any Obligations in accordance with <B>Section&nbsp;5.5</B>. The Cash Collateral Account and all Cash Collateral shall be under the sole dominion and control of the
Applicable Agent. No Loan Party or other Person claiming through or on behalf of any Loan Party shall have any right to any Cash Collateral, until Full Payment of all Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.2.3. <U>Credit Card Arrangements</U></B>. <B>Schedule 7.2.3</B> sets forth all arrangements to which any Loan Party is a party as of the
Closing Date with respect to the payment to any Loan Party of the proceeds of credit card charges for sales by such Loan Party. The Loan Parties shall deliver to the Applicable Agent Credit Card Agreements instructing each of their credit card
processors to transfer all amounts owing by such processor to a Loan Party directly to the applicable Concentration Account or a Dominion Account, with such Credit Card Agreements to be executed by each relevant Loan Party and the
</P>
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applicable credit card processor. Contemporaneously with the delivery of quarterly financial statements, each Loan Party shall provide an updated <B>Schedule 7.2.3</B> to reflect any additional
credit card arrangements to which any Borrower or any Subsidiary is from time to time a party and shall deliver a Credit Card Agreement to the Applicable Agent upon entry into such additional credit card arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.3. <U>Lien on Real Estate</U></B>. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.3.1. <U>Lien on Real Estate</U></B>. The Obligations shall also be secured by Mortgages upon all Real Estate owned by the Loan Parties
(if any). The Mortgages shall be duly recorded, at the Borrowers&#146; expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Loan Party acquires Real Estate
hereafter, the Borrowers shall, within 30 days, execute, deliver and record a Mortgage sufficient to create a first priority Lien in favor of the Applicable Agent on such Real Estate, and shall deliver all Related Real Estate Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.3.2. <U>Collateral Assignment of Leases</U></B>. To further secure the prompt payment and performance of all Obligations, each Loan Party
hereby collaterally transfers and assigns to the Applicable Agent, for the benefit of the Secured Parties, all of such Loan Party&#146;s right, title and interest in, to and under all now or hereafter existing leases of real Property to which such
Loan Party is a party, whether as lessor or lessee, and all extensions, renewals and modifications thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.4. <U>Other
Collateral</U></B>. <B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.4.1. <U>Commercial Tort Claims</U></B>. The Borrowers shall promptly notify the Agents in writing if any
Loan Party has a Commercial Tort Claim and, upon any Agent&#146;s request, shall promptly execute such documents and take such actions as such Agent deems appropriate to confer upon such Agent (for the benefit of the Secured Parties) a duly
perfected, first priority Lien upon such claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>7.4.2. <U>Certain After-Acquired Collateral</U></B>. The Borrowers shall promptly
notify the Agents in writing if, after the Closing Date, any Loan Party obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, material Intellectual Property, Investment Property or
Letter-of-Credit Rights and, upon any Agent&#146;s request, shall promptly execute such documents and take such actions as such Agent deems appropriate to effect such Agent&#146;s duly perfected, first priority Lien upon such Collateral, including
obtaining any appropriate possession, control agreement, Lien Waiver or Lien Priority Agreement. If any Collateral is in the possession of a third party, at any Agent&#146;s request, the applicable Loan Party shall obtain an acknowledgment that such
third party holds the Collateral for the benefit of such Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.5. <U>No Assumption of Liability</U></B>. The Lien on Collateral
granted hereunder is given as security only and shall not subject any Agent or any Secured Party to, or in any way modify, any obligation or liability of the Loan Parties relating to any Collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.6. <U>Further Assurances</U>. </B>Promptly upon request, the Loan Parties shall deliver such instruments, assignments, title
certificates, or other documents or agreements, and shall take such actions, as each Agent deems appropriate under Applicable Law to evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this Agreement. Each
Loan Party authorizes each Agent to file any financing statement that indicates the Collateral as &#147;all assets&#148; or &#147;all personal property&#148; of such Loan Party, or words to similar effect, and ratifies any action taken by any Agent
before the Closing Date to effect or perfect its Lien on any Collateral. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7. <U>Guarantees by the Borrowers; Intercompany Debt Subordination Arrangements</U></B>.<B>
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.1. <U>Guarantees</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) For value received and hereby acknowledged and as an inducement to the US Lenders and the Administrative Agent to make the
Loans, and the Issuing Banks to issue, extend and renew Letters of Credit for the account of the US Borrower, the Canadian Borrower hereby unconditionally and irrevocably guarantees (i)&nbsp;the full punctual payment when due, whether at stated
maturity, by acceleration or otherwise, of all Obligations of the US Borrower and each other Loan Party now or hereafter existing whether for principal, interest, fees, expenses or otherwise, and (ii)&nbsp;the strict performance and observance by
the US Borrower and each other Loan Party of all agreements, warranties and covenants applicable to such Loan Party in this Agreement and the other Loan Documents and (iii)&nbsp;the obligations of the US Borrower and each other Loan Party under this
Agreement and the other Loan Documents (such Obligations collectively being hereafter referred to as the &#147;<U>Guaranteed US Obligations</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) For value received and hereby acknowledged and as an inducement to the Canadian Lenders and the Canadian Agent to make the
Loans, and the Issuing Banks to issue, extend and renew Letters of Credit for the account of the Canadian Borrower, the US Borrower hereby unconditionally and irrevocably guarantees (i)&nbsp;the full punctual payment when due, whether at stated
maturity, by acceleration or otherwise, of all Obligations of the Canadian Borrower and each other Loan Party now or hereafter existing whether for principal, interest, fees, expenses or otherwise, and (ii)&nbsp;the strict performance and observance
by the Canadian Borrower and each other Loan Party of all agreements, warranties and covenants applicable to such Loan Party in this Agreement and the other Loan Documents and (iii)&nbsp;the obligations of the Canadian Borrower and each other Loan
Party under this Agreement and the other Loan Documents (such Obligations collectively being hereafter referred to as the &#147;<U>Guaranteed Canadian Obligations</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.2. <U>Guarantees Absolute</U>.</B> The Canadian Borrower guarantees that the Guaranteed US Obligations will be paid
strictly in accordance with the terms hereof, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the US Lenders with respect thereto. The US Borrower guarantees that
the Guaranteed Canadian Obligations will be paid strictly in accordance with the terms hereof, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Canadian
Lenders with respect thereto. The liability of the Canadian Borrower and the US Borrower under their guarantees of the Guaranteed US Obligations and the Guaranteed Canadian Obligations, respectively, shall be absolute and unconditional irrespective
of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any Loan Party&#146;s lack of authorization, execution, validity or enforceability of this Agreement or any other
Loan Document and any amendment hereof (with regard to such Guaranteed Obligations), or any other obligation, agreement or instrument relating thereto (it being agreed by each Borrower that its Guaranteed Obligations shall not be discharged prior to
Full Payment of all of the Obligations) or any failure to obtain any necessary governmental consent or approvals or necessary third party consents or approvals; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any Agent&#146;s, any Issuing Bank&#146;s or any Lender&#146;s exercise or enforcement of, or failure or delay in
exercising or enforcing, legal proceedings to collect the Obligations or the Guaranteed Obligations or any power, right or remedy with respect to any of the Obligations or the Guaranteed Obligations, including (i)&nbsp;any suspension of any
Agent&#146;s, any Issuing Bank&#146;s or any Lender&#146;s right to enforce any Borrower&#146;s Guaranteed Obligations, or (ii)&nbsp;any change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed
Obligations or any other amendment or waiver of or any consent to departure from this Agreement or the other Loan Documents (with regard to such Guaranteed Obligations) or any other agreement or instrument governing or evidencing any of the
Guaranteed Obligations; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any exchange, release, unenforceability, non-opposability or non-perfection
of any Collateral, or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any change in ownership of any Loan Party; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any acceptance of any partial payment(s) from any Loan Party; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition, assignment for the benefit of creditors,
appointment of a receiver, interim receiver, receiver and manager, monitor or trustee for all or any part of any Loan Party&#146;s assets; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) any assignment, participation or other transfer or reallocation, in whole or in part (whether or not subject to a
conversion of a Loan of one Type into a Loan of another Type or a conversion from one currency to another), of any Agent&#146;s, any Issuing Bank&#146;s or any Lender&#146;s interest in and rights under this Agreement or any other Loan Document, or
of any Agent&#146;s, any Issuing Bank&#146;s or any Lender&#146;s interest in the Obligations or the Guaranteed Obligations; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) any cancellation, renunciation or surrender of any pledge, guaranty or any debt instrument evidencing the Obligations or
the Guaranteed Obligations; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any Agent&#146;s, any Issuing Bank&#146;s or any Lender&#146;s vote, claim, distribution,
election, acceptance, action or inaction in any proceeding under any Insolvency Proceeding related to the Obligations or the Guaranteed Obligations; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) any other action or circumstance, other than payment, which might otherwise constitute a defense available to, or a
discharge of, any Borrower in respect of its Guaranteed Obligations (other than the defense of payment in full). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
guarantees contained in this <B>Section&nbsp;7.7</B> shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any Guaranteed Obligation is rescinded or must otherwise be returned by any Agent, any Issuing
Bank or any Lender upon the insolvency, bankruptcy or reorganization of any Loan Party or otherwise, all as though such payment had not been made. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.3. <U>Effectiveness; Enforcement</U></B>. The guarantee of the Canadian Borrower hereunder shall be effective and shall
be deemed to be made with respect to each Loan made to and each Letter of Credit issued for the account of the US Borrower as of the time it is made, issued or accepted, as applicable. The guarantee of the US Borrower hereunder shall be effective
and shall be deemed to be made with respect to each Loan made to and each Letter of Credit issued for the account of the Canadian Borrower as of the time it is made, issued or accepted, as applicable. No invalidity, irregularity or unenforceability
by reason of any Insolvency Proceeding, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect any liability of any Loan Party, and no defect in or insufficiency or want of powers of any Loan Party or
irregular or improperly recorded exercise thereof, shall impair, affect, be a defense to or claim against either guarantee. Each guarantee hereunder is a continuing guarantee and shall (a)&nbsp;survive any termination of this Agreement, and
(b)&nbsp;remain in full force and effect until Full Payment of the Obligations to which such guarantee relates. The guarantee of the Canadian Borrower under this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


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Agreement is made for the benefit of the Agents, the Issuing Banks and the Lenders and their successors and assigns, and may be enforced from time to time as often as occasion therefor may arise
and without requirement on the part of any Agent, the Issuing Banks or the Lenders first to exercise any rights against the US Borrower, or to resort to any other source or means of obtaining payment of any of the Guaranteed US Obligations or to
elect any other remedy. The guarantee of the US Borrower under this Agreement is made for the benefit of the Agents, the Issuing Banks and the Lenders and their successors and assigns, and may be enforced from time to time as often as occasion
therefor may arise and without requirement on the part of any Agent, the Issuing Banks or the Lenders first to exercise any rights against the Canadian Borrower, or to resort to any other source or means of obtaining payment of any of the Guaranteed
Canadian Obligations or to elect any other remedy. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.4. <U>Waiver</U>.</B> Each Borrower hereby renounces to the
benefits of division and discussion with respect to their respective guarantees. Each Borrower hereby waives promptness, diligence, protest, notice of protest, all suretyship defenses, notice of acceptance and any other notice with respect to any of
its Guaranteed Obligations and its guarantee and any requirement that any Agent, any Issuing Bank or any Lender secure, render enforceable or opposable, perfect or protect any security interest or Lien on any property subject thereto or exhaust any
right or take any action against any Loan Party or any other Person or any Collateral. Each Borrower also irrevocably waives, to the fullest extent permitted by Applicable Law, all defenses which at any time may be available to it in respect of its
Guaranteed Obligations by virtue of any statute of limitations, valuation, stay, moratorium law or similar law now or hereinafter in effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.5. <U>Subordination; Subrogation</U>.</B> Until the Full Payment of the Obligations, each Borrower agrees not to
exercise, and each Borrower hereby waives, any rights against any other Loan Party as a result of payment by such Borrower hereunder or payment under the Montrovest LC, by way of subrogation, reimbursement, restitution, contribution or otherwise,
and such Borrower will not prove any claim in competition with any Agent, any Issuing Bank or any Lender in respect of any payment hereunder in any proceedings of any nature in any Insolvency Proceeding; no Borrower will claim any set-off,
recoupment or counterclaim against any other Loan Party in respect of any liability of a Loan Party to any other Loan Party; and each Borrower waives any benefit of and any right to participate in the Montrovest LC or any Collateral which may be
held by any Secured Party or any Agent. Each Borrower agrees that, after the occurrence and during the continuance of any Default or Event of Default, such Borrower will not demand, sue for or otherwise attempt to collect any Debt of any other Loan
Party to such Borrower until Full Payment of all of the Obligations. If, notwithstanding the foregoing sentence, any Borrower shall collect, enforce or receive any amounts in respect of the Debt of any other Loan Party in violation of the foregoing
sentence while any Obligations of such other Loan Party are still outstanding or while any Commitments are outstanding, such amounts shall be collected, enforced and received by such Borrower as trustee for the Lenders, the Issuing Banks and the
Agents and be paid over to the Applicable Agent, for the benefit of the Lenders, the Issuing Banks and the Agents on account of the Obligations of such Borrower without affecting in any manner the liability of such Borrower under the other
provisions hereof. The provisions of this section shall survive the expiration or termination of this Agreement and the other Loan Documents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.6. <U>Payments</U>.</B> Each Borrower agrees to pay its Guaranteed Obligations in the currency in which such Obligation
is payable by the other Loan Parties and all payments by such Borrower hereunder shall be made without setoff or counterclaim and shall be free and clear of and without deduction for any foreign or domestic Taxes, compulsory loans, restrictions or
conditions of any nature now or hereafter imposed or levied by any jurisdiction or any political subdivision thereof or taxing or other authority therein unless such Borrower is required by Applicable Law to make such deduction or withholding. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.7.7. <U>Receipt of Information</U></B>. Each Borrower acknowledges and confirms that it itself has established its own
adequate means of obtaining from the other Loan Parties on a continuing basis all information desired by such Borrower concerning the financial condition of the other Loan Parties and that such Borrower will look to the other Loan Parties and not to
any Agent or any Lender in order to keep adequately informed of changes in the Loan Parties&#146; financial condition. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.8. <U>Guaranty of the Subsidiaries</U>.</B> The Obligations shall also be guaranteed
pursuant to the terms of each other Guaranty. The obligations of the Guarantors under each Guaranty are in turn secured by a perfected first priority security interest in and Lien upon (subject only to Permitted Liens entitled to priority under
Applicable Law) all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of this Agreement and the Security Documents to which such Guarantor is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.9. <U>Intercompany Debt Subordination Arrangements</U>. </B>Each Loan Party agrees that, after the occurrence and during the continuance
of any Default or Event of Default, such Loan Party will not demand, sue for or otherwise attempt to collect any Debt of the other Loan Party owing to such Loan Party until Full Payment of the Obligations. If, notwithstanding the foregoing sentence,
any Loan Party shall collect, enforce or receive any amounts in respect of the Debt of the other Loan Party in violation of the foregoing sentence prior to the Full Payment of the Obligations, such amounts shall be collected, enforced and received
by such Loan Party as trustee for the Lenders, the Issuing Banks and the Agents and be paid over to the Applicable Agent, for the benefit of the Lenders, the Issuing Banks and the Agents on account of the Obligations of the Loan Parties without
affecting in any manner the liability of the Loan Parties under the other provisions hereof or any other Loan Documents. In addition, until the Full Payment of the Obligations, each Loan Party agrees not to exercise, and each Loan Party hereby
waives, any rights against any other Loan Party as a result of payment by such Loan Party hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and such Loan Party will not prove any claim in competition with any
Agent, any Issuing Bank or any Lender in respect of any payment hereunder in any proceedings of any nature in any Insolvency Proceeding; no Loan Party will claim any set-off, recoupment or counterclaim against the other Loan Party in respect of any
liability of one Loan Party to the other Loan Party; and each Loan Party waives any benefit of and any right to participate in any Collateral which may be held by any Secured Party or any Agent. The provisions of this <B>Section&nbsp;7.9</B> shall
survive the expiration or termination of this Agreement and the other Loan Documents. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 8. COLLATERAL ADMINISTRATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.1. <U>Borrowing Base Certificates</U></B>. Each Borrower shall deliver to the Administrative Agent and each Co-Collateral Agent (and the
Administrative Agent shall promptly deliver same to the Canadian Agent and the Lenders) on each Business Day, a Borrowing Base Certificate setting forth the US Borrowing Capacity, the Canadian Borrowing Capacity, the Aggregate Revolver Borrowing
Capacity and the Term Loan Borrowing Capacity as at the immediately preceding Business Day; <U>provided</U> that the Borrowers shall only be required to report Eligible Inventory, Eligible Major Credit Card Receivables and Eligible Private Label and
Corporate Accounts weekly as at the end of the week most recently ended, such reporting to be updated not later than Wednesday of each week. All calculations of US Revolver Excess Availability, Canadian Revolver Excess Availability, Revolver Excess
Availability, Aggregate Revolver Excess Availability, the Term Loan Borrowing Capacity and Loan to Value Reserve shall originally be made by the Borrowers and certified by a Senior Officer (with such certification to be in such Person&#146;s
capacity as a Senior Officer of a Loan Party and not in such Person&#146;s individual capacity); <U>provided</U> that the Administrative Agent and each Co-Collateral Agent may from time to time review and adjust any such
</P>
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calculation (a)&nbsp;to reflect its reasonable estimate of declines in value of any Collateral included in any of the US Borrowing Capacity, the Canadian Borrowing Capacity and the Term Loan
Borrowing Capacity, as the case may be, due to collections received in the Concentration Accounts or to reflect any events or circumstances affecting such Collateral; (b)&nbsp;to adjust advance rates to reflect changes in dilution, quality, mix and
other factors affecting Collateral included in any of the US Borrowing Capacity, the Canadian Borrowing Capacity and the Term Loan Borrowing Capacity, as the case may be; <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>and
</B></U>(c)&nbsp;to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserves[<STRIKE>; and (d)&nbsp;to address the Montrovest LC and any changes to the Montrovest LC Effective
Advance Rate</STRIKE>]. Each Borrowing Base Certificate delivered by the Borrowers shall be accompanied by a certificate, in form and substance satisfactory to the Administrative Agent and the Co-Collateral Agents and certified by a Senior Officer,
as to the balances of each Deposit Account. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.2. <U>Account Verification</U></B>. Whether or not a Default or Event of Default exists,
each Agent shall have the right at any time, in the name of the Applicable Agent, any designee of such Agent or any Loan Party to verify the validity, amount or any other matter relating to any Accounts of the Loan Parties by mail, telephone or
otherwise. The Loan Parties shall cooperate fully with any Agent in an effort to facilitate and promptly conclude any such verification process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.3. <U>Administration of Inventory</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.3.1. <U>Records and Reports of Inventory</U></B>. Each Loan Party shall keep accurate and complete records of its Inventory and the
Borrowers shall submit to the Administrative Agent inventory reports as provided in <B>Section&nbsp;10.1.1</B>. Each Borrower, Henry U.S. and Mayor&#146;s Florida shall conduct periodic cycle counts covering the entire Inventory at least once per
calendar year (and on a more frequent basis if requested by the Administrative Agent when an Event of Default exists) consistent with historical practices, and shall provide to the Administrative Agent a report based on each such inventory and count
promptly upon completion thereof, together with such supporting information as the Administrative Agent may reasonably request. The Administrative Agent may participate in and observe each inventory or physical count. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.3.2. <U>Returns of Inventory</U></B>. No Loan Party shall return any Inventory to a supplier, vendor or other Person, whether for cash,
credit or otherwise, unless (a)&nbsp;such return is in the Ordinary Course of Business or (b)&nbsp;no Event of Default, US Revolver Overadvance or Canadian Revolver Overadvance exists or would result therefrom. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.3.3. <U>Acquisition, Sale and Maintenance</U></B>. No Loan Party shall acquire or accept any Inventory which is part of the US Borrowing
Capacity, Canadian Borrowing Capacity or the Term Loan Borrowing Capacity on consignment or approval. Other than as set forth in <B>Schedule 8.3.3</B>, no Loan Party shall sell any Inventory on consignment or approval in which such Loan Party acts
as consignor unless otherwise expressly permitted by the Administrative Agent in its sole discretion. The Loan Parties shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any
insurance and in conformity with all Applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases) at all locations where Collateral is located, stored, used or held. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.4. [Reserved]</B>. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.5. <U>General Provisions</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.5.1. <U>Location of Collateral</U></B>. All tangible items of Collateral (other than Inventory in transit, Inventory located on the
premises of a processor that has signed a Lien Waiver in favor of the </P>
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Administrative Agent and certificated securities in the possession of the Applicable Agent), shall at all times be kept by the Loan Parties at the business locations set forth in <B>Schedule
8.5.1</B>, except that the Loan Parties may move Collateral to another location in the United States (or, with respect to Collateral owned by the Canadian Borrower, Canada), so long as, if such Collateral has an aggregate value of more than the
Dollar Equivalent of $500,000, the Borrower Agent has (i)&nbsp;provided the Agents with 30 Business Days prior written notice thereof and (ii)&nbsp;other than with respect to Collateral in which the Lien in favor of the Administrative Agent may be
perfected solely by filing with the Secretary of State (or similar Governmental Authority) of the applicable Loan Party&#146;s jurisdiction of organization or other applicable jurisdiction as required by Applicable Law and has been so perfected,
delivered to the Administrative Agent evidence that all filings, recordings and registrations that are necessary or desirable to perfect the Lien in favor of the Applicable Agent, for the benefit of the Secured Parties, have been made (it is
acknowledged that so long as all filings, recordings and registrations made against the US Loan Parties that are necessary or desirable to perfect the security interest in favor of the Applicable Agent on record as of the Closing Date remain on
record, no additional filings with the Secretary of State of the State of Incorporation of each such US Loan Party shall be required hereunder). Contemporaneously with the delivery of quarterly financial statements, each Loan Party shall provide the
Administrative Agent with an updated <B>Schedule&nbsp;8.5.1</B> to reflect the locations of all tangible items of Collateral, other than Inventory in transit and certificated securities, which updated <B>Schedule&nbsp;8.5.1</B> shall clearly
indicate which locations are new since the last delivery of an updated <B>Schedule&nbsp;8.5.1</B>. The chief executive offices and other places of business of each Loan Party and Subsidiary as of the Closing Date are shown on
<B>Schedule&nbsp;8.5.1</B>. In the event of any change in the chief executive offices and other places of business of any Loan Party or any Subsidiary, the Borrowers shall deliver to the Administrative Agent an updated <B>Schedule&nbsp;8.5.1.</B>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.5.2. <U>Insurance of Collateral; Condemnation Proceeds</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Loan Party shall maintain insurance with respect to the Collateral, covering casualty, hazard, public liability, theft, malicious
mischief, and such other risks, in such amounts, with such endorsements, and with such insurers (rated A or better by A.M. Best Rating Guide) as are reasonably satisfactory to the Administrative Agent. All proceeds of Collateral under each policy
shall be payable to the Applicable Agent. From time to time upon request, the Loan Parties shall deliver to the Administrative Agent the originals or certified copies of their insurance policies and updated flood plain searches. As soon as
practicable and in any event by the last day of each Fiscal Year, the Loan Parties shall deliver to the Administrative Agent a report in form and substance reasonably satisfactory to the Administrative Agent outlining all material insurance coverage
maintained as of the date of such report by the Loan Parties and all material insurance coverage planned to be maintained by the Loan Parties in the immediately succeeding Fiscal Year. Unless the Administrative Agent shall agree otherwise, each
policy shall include reasonably satisfactory endorsements (i)&nbsp;showing the Applicable Agent as loss payee or additional insured, as appropriate; (ii)&nbsp;requiring 30 days prior written notice to the Applicable Agent in the event of
cancellation of the policy for any reason whatsoever; and (iii)&nbsp;specifying that the interest of the Applicable Agent shall not be impaired or invalidated by any act or neglect of any Loan Party or the owner of the Property, nor by the
occupation of the premises for purposes more hazardous than are permitted by the policy. If any Loan Party fails to provide and pay for such insurance, the Applicable Agent may, at its option, but shall not be required to, procure the insurance and
charge the Loan Parties therefor. Each Loan Party agrees to deliver to the Applicable Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, the Loan Parties may settle, adjust or compromise
any insurance claim, as long as the proceeds are delivered to the Applicable Agent. If an Event of Default exists, only the Applicable Agent shall be authorized to settle, adjust and compromise such claims. Without limiting the foregoing, the Loan
Parties will (a)&nbsp;keep all of their physical property (and the property of their Subsidiaries) insured with casualty or physical hazard insurance on an &#147;all risks&#148; basis, with broad form flood and, to the extent consistent with prudent
business practice for the location in which such property is situated, earthquake coverages and electronic data processing coverage, with a full replacement cost endorsement and an </P>
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&#147;agreed amount&#148; clause in an amount equal to 100% of the full replacement cost of such property, (b)&nbsp;maintain all such workers&#146; compensation or similar insurance as may be
required by Applicable Law and (c)&nbsp;maintain, in amounts and with deductibles equal to those generally maintained by businesses engaged in similar activities in similar geographic areas, general public or civil liability insurance against claims
of bodily injury, death or property damage occurring, on, in or about the properties of the Loan Parties and their Subsidiaries; business interruption insurance; and product liability insurance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any proceeds of insurance (other than proceeds from workers&#146; compensation or D&amp;O insurance) and any awards arising from
condemnation or expropriation of any Collateral shall be paid to the Applicable Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.5.3. <U>Protection of Collateral</U></B>. All
expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Taxes (other than Excluded Taxes) payable with respect to any Collateral (including any sale thereof), and all other payments required to
be made by the Agents to any Person to realize upon any Collateral, shall be borne and paid by the Loan Parties. No Agent or Co-Collateral Agent shall be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage
thereto (except for reasonable care in its custody while Collateral is in such Agent&#146;s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person
whatsoever, but the same shall be at the Loan Parties&#146; sole risk. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>8.5.4. <U>Defense of Title to Collateral</U></B>. Each Loan
Party shall at all times defend its title to Collateral and the Applicable Agent&#146;s Liens therein against all Persons, claims and demands whatsoever, except Permitted Liens. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.6. <U>Power of Attorney</U></B>. Each Loan Party hereby irrevocably constitutes and appoints the Applicable Agent (and all Persons
designated by any Agent) as such Loan Party&#146;s true and lawful attorney (and agent-in-fact) for the purposes provided in this <B>Section&nbsp;8.6</B>. The Applicable Agent, or such Agent&#146;s designee, may, without notice and in either its or
a Loan Party&#146;s name, but at the cost and expense of the Loan Parties: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Endorse a Loan Party&#146;s name on any Payment Item or
other proceeds of Collateral (including proceeds of insurance) that come into the Applicable Agent&#146;s possession or control; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
During an Event of Default, (i)&nbsp;notify any Account Debtors of the assignment of their Accounts, demand and enforce payment of Accounts, by legal proceedings or otherwise, and generally exercise any rights and remedies with respect to Accounts;
(ii)&nbsp;settle, adjust, modify, compromise, discharge or release any Accounts or other Collateral, or any legal proceedings brought to collect Accounts or Collateral; (iii)&nbsp;sell or assign any Accounts and other Collateral upon such terms, for
such amounts and at such times as the Applicable Agent deems advisable; (iv)&nbsp;take control, in any manner, of any proceeds of Collateral; (v)&nbsp;prepare, file and sign a Loan Party&#146;s name to a proof of claim or other document in a
bankruptcy of an Account Debtor, or to any notice, assignment or satisfaction of Lien or similar document; (vi)&nbsp;receive, open and dispose of mail addressed to a Loan Party, and notify postal authorities to change the address for delivery
thereof to such address as the Applicable Agent may designate; (vii)&nbsp;endorse any Chattel Paper, Document, Instrument, invoice, freight bill, bill of lading, or similar document or agreement relating to any Accounts, Inventory or other
Collateral; (viii)&nbsp;use a Loan Party&#146;s stationery and sign its name to verifications of Accounts and notices to Account Debtors; (ix)&nbsp;use the information recorded on or contained in any data processing equipment and computer hardware
and software relating to any Collateral; (x)&nbsp;make and adjust claims under policies of insurance; (xi)&nbsp;take any action as may be necessary or appropriate to obtain payment under any letter of credit or banker&#146;s acceptance for which a
Loan Party is a beneficiary; and (xii)&nbsp;take all other actions as the Applicable Agent deems appropriate to fulfill any Loan Party&#146;s obligations under the Loan Documents. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 9. REPRESENTATIONS AND WARRANTIES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>9.1. <U>General Representations and Warranties</U>.</B> To induce the Agents and the Lenders to enter into this Agreement and to make
available the Commitments, Loans and Letters of Credit, each Loan Party represents and warrants that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.1. <U>Organization and
Qualification</U></B>. Each Loan Party and Subsidiary is duly organized, validly existing and in good standing or subsisting, as applicable under the laws of the jurisdiction of its organization. Each Loan Party and Subsidiary is duly qualified,
authorized to do business and in good standing as a foreign corporation in each jurisdiction where failure to be so qualified could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.2. <U>Power and Authority</U></B>. Each Loan Party is duly authorized to own and operate its properties, to carry on its business as
now conducted and as proposed to be conducted, and to execute, deliver and perform the Loan Documents to which it is a party. The execution, delivery and performance of the Loan Documents by each Loan Party have been duly authorized by all necessary
action, and do not (a)&nbsp;require any consent or approval of any holders of Capital Stock of any Loan Party, other than those already obtained; (b)&nbsp;contravene the Organizational Documents of any Loan Party; (c)&nbsp;violate or cause a
material default under any Applicable Law or Material Contract; or (d)&nbsp;result in or require the imposition of any Lien (other than Permitted Liens and Liens granted hereunder) on any Property of any Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.3. <U>Enforceability</U></B>. Each Loan Document is a legal, valid and binding obligation of each Loan Party party thereto, enforceable
against each Loan Party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors&#146; rights generally and by general equitable principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.4. <U>Capital Structure</U></B>. <B>Schedule 9.1.4</B> shows, for each Loan Party and Subsidiary as of the Closing Date, its name, its
jurisdiction of organization, its authorized and issued Capital Stock, the holders of its Capital Stock, whether such entity is a Loan Party and all agreements binding on such holders with respect to their Capital Stock. Each Loan Party has good
title in its interest in the Capital Stock of its Subsidiaries, subject only to the Agents&#146; Liens and Liens in favor of the Term Loan Agent, and all such Capital Stock is duly issued, fully paid and non-assessable. Except as set forth in
<B>Schedule 9.1.4</B>, there are no outstanding options to purchase, warrants, subscription rights, agreements to issue or sell, convertible interests, phantom rights or powers of attorney relating to any Capital Stock of any Loan Party or any
Subsidiary. Each Subsidiary of a Borrower is a Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.5. <U>Corporate Names; Locations</U></B>. During the five years
preceding the Closing Date, except as shown on <B>Schedule&nbsp;9.1.5</B>, no Loan Party or Subsidiary has been known as or used any corporate, fictitious or trade names, has been the surviving corporation of a merger, amalgamation or combination,
or has acquired any substantial part of the assets of any Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.6. <U>Title to Properties; Priority of Liens;
Investments</U></B>. (a)&nbsp;Each Loan Party and Subsidiary has good and marketable title to (or valid leasehold interests in) all of its Real Estate, and good title to all of its personal Property, including all Property reflected in any financial
statements delivered to the Agents or the Lenders, in each case free of Liens except Permitted Liens. Each Loan Party and Subsidiary has paid and discharged all lawful claims that, if unpaid, could become a Lien on its Properties, other than
Permitted Liens and except for such claims as are being Properly Contested. All Liens of the Agents on the Collateral are duly perfected, first priority Liens, subject only to Permitted Liens that are expressly allowed to have priority over the
Agent&#146;s Liens. As of the Closing Date, <B>Schedule 9.1.6(a) </B>contains a true, accurate and complete list of each Loan Party&#146;s Real Estate assets, including all leases, subleases or assignments of leases (together with all amendments,
modifications, supplements, renewals or </P>
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extensions of any thereof) affecting such Real Estate assets. The Borrowers do not have knowledge of any default that has occurred and is continuing under any agreement listed on
<B>Schedule&nbsp;9.1.6(a)</B> (except where the consequences, direct or indirect, of such default, if any, could not reasonably be expected to have a Material Adverse Effect), and each such agreement constitutes the legally valid and binding
obligation of each applicable Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting
creditors&#146; rights generally or by equitable principles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)<B> Schedule&nbsp;9.1.6(b)</B> sets forth a complete and accurate list of
all Investments held by any Loan Party or any Subsidiary of a Loan Party on the date hereof, showing as of the date hereof the amount, obligor or issuer and maturity, if any, thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.7. <U>Security Documents</U></B>. The provisions of the Security Documents are effective to create in favor of the Applicable Agent for
the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Permitted Liens entitled to priority under Applicable Law) on all right, title and interest of the respective Loan Parties in the Collateral described
therein. Except for filings completed on or prior to the Closing Date and as contemplated hereby and by the Security Documents, no filing or other action will be necessary to perfect or protect such Liens. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.8. <U>Financial Statements</U></B>. The consolidated and, if applicable, combined balance sheets, and related statements of income,
cash flow and shareholder&#146;s equity, of the Loan Parties and Subsidiaries that have been and are hereafter delivered to the Agents and the Lenders, pursuant to <B>Sections&nbsp;6.1 </B>and<B> 10.1.2 </B>or otherwise, are prepared in accordance
with GAAP and fairly present the financial positions and results of operations of the Loan Parties and Subsidiaries at the dates and for the periods indicated, subject, in the case of interim statements, to normal year-end adjustments and the
absence of footnotes. All projections delivered from time to time to the Agents and the Lenders have been prepared in good faith, based on reasonable assumptions in light of the circumstances at such time. Since March&nbsp;27, 2010 there has been no
change in the condition, financial or otherwise, of any Loan Party or any Subsidiary that could reasonably be expected to have a Material Adverse Effect. Each Loan Party and Subsidiary is Solvent. As of the Closing Date and except for obligations
set forth on <B>Schedule&nbsp;9.1.8 </B>or as otherwise disclosed to the Agents, neither the Loan Parties nor any of their respective Subsidiaries have any contingent liability or liability for Taxes, long-term lease or unusual forward or long-term
commitment that is not reflected in financial statements referred to in this <B>Section&nbsp;9.1.8</B> or the notes thereto and which in any such case is material in relation to the business, operations, properties, assets, or condition (financial
or otherwise) of the Loan Parties and their Subsidiaries taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.9. <U>Surety Obligations</U></B>. No Loan Party or
Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.10. <U>Taxes</U></B>. Each Loan Party and Subsidiary has filed all federal, state, provincial, local and foreign tax returns and other
reports that it is required by law to file, and has paid, or made provision for the payment of, all Taxes upon it, its income and its Properties that are due and payable and has remitted all Taxes required to have been remitted by it, except to the
extent being Properly Contested. The provision for Taxes on the books of each Loan Party and Subsidiary is adequate for all years not closed by applicable statutes, and for its current Fiscal Year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.11. <U>Brokers</U></B>. There are no brokerage commissions, finder&#146;s fees or investment banking fees payable in connection with
any transactions contemplated by the Loan Documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.12. <U>Intellectual Property</U></B>. Each Loan Party and Subsidiary owns or has the
lawful right to use all Intellectual Property necessary for the conduct of its business, without conflict with any rights of others. There is no pending or, to any Loan Party&#146;s knowledge, threatened material Intellectual Property Claim with
respect to any Loan Party, any Subsidiary or any of their Property (including any Intellectual Property). All Intellectual Property owned by any Loan Party or any Subsidiary and registered with the U.S. Patent and Trademark Office, the Canadian
Intellectual Property Office or any other applicable Governmental Authority is identified on <B>Schedule&nbsp;9.1.12</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.13.
<U>Governmental Approvals; Other Consents</U></B>. Each Loan Party and Subsidiary has, is in compliance with, and is in good standing with respect to, all Governmental Approvals necessary to conduct its business and to own, lease and operate its
Properties, except to the extent compliance with such Governmental Approvals could not reasonably be expected to result in a Material Adverse Effect. All necessary material import, export or other licenses, permits or certificates for the import or
handling of any goods or other Collateral have been procured and are in effect, and the Loan Parties and Subsidiaries have complied with all applicable foreign and domestic laws with respect to the shipment and importation of any goods or
Collateral, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other
Person is necessary or required in connection with (a)&nbsp;the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the consummation of the transactions contemplated
hereby, (b)&nbsp;the grant by any Loan Party of the Liens granted by it pursuant to the Security Documents, (c)&nbsp;the perfection or maintenance of the Liens created under the Security Documents, other than UCC and PPSA filings that will be made
on or prior to the Closing Date or on such future date as may be necessary to maintain such perfection, or (d)&nbsp;the exercise by any Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant
to the Security Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.14. <U>Compliance with Laws</U></B>. Each Loan Party and Subsidiary has duly complied, and its
Properties and business operations are in compliance with all Applicable Law, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. There have been no citations, notices or orders of noncompliance issued to
any Loan Party or any Subsidiary under any Applicable Law, the receipt of which could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.15. <U>Compliance with Environmental Laws</U></B>. Except as disclosed on <B>Schedule&nbsp;9.1.15 </B>and except to the extent any of
the following could not reasonably be expected to result in a Material Adverse Effect, no Loan Party&#146;s or Subsidiary&#146;s past or present operations, Real Estate or other Properties are subject to any federal, state, provincial or local
investigation to determine whether any remedial action is needed to address any environmental pollution, hazardous material or environmental clean-up. No Loan Party or Subsidiary has received any Environmental Notice the receipt of which could
reasonably be expected to result in a Material Adverse Effect. No Loan Party or Subsidiary has any material contingent liability with respect to any Environmental Release, environmental pollution or hazardous material on any Real Estate now or
previously owned, leased or operated by it in any case that could reasonably be expected to result in a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.16. <U>Burdensome Contracts</U></B>. No Loan Party or Subsidiary is a party or subject to any contract, agreement or charter
restriction that could reasonably be expected to have a Material Adverse Effect. No Loan Party or Subsidiary is party or subject to any contract, agreement or charter restriction which prohibits the execution or delivery of any Loan Documents by a
Loan Party or the performance by a Loan Party of any obligations thereunder, except as identified on <B>Schedule&nbsp;9.1.16</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.17. <U>Litigation</U></B>. Except as shown on <B>Schedule&nbsp;9.1.17</B>, there are no proceedings or investigations pending or, to
any Loan Party&#146;s knowledge, threatened against any Loan Party or any </P>
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Subsidiary, or any of their businesses, operations, Properties, or conditions, that (a)&nbsp;relate to any Loan Documents or transactions contemplated thereby; [<STRIKE>or
(b</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>(b) could reasonably be expected to result in liabilities in excess of $1,000,000 or (c</B></U>)&nbsp;could reasonably be expected to have a Material Adverse Effect. No Loan
Party or Subsidiary is in default with respect to any order, injunction or judgment of any Governmental Authority that could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.18. <U>Insurance; No Casualty</U>.</B> The properties of each Loan Party and its Subsidiaries are insured with financially sound and
reputable insurance companies that are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in
localities where such Loan Party or the applicable Subsidiary operates. Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire, explosion, accident, strike, lockout or other labor dispute,
drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.19. <U>No Defaults; Material Contracts</U></B>. No event or circumstance has occurred or exists as of the date of this Agreement that
constitutes a Default or Event of Default. <B>Schedule&nbsp;9.1.19</B> contains a true, correct and complete list of all Material Contracts, and except as described thereon, all such Material Contracts are in full force and effect. No Loan Party or
Subsidiary is in default, and no event or circumstance has occurred or exists that with the passage of time or giving of notice would constitute a default, under any Material Contract or in the payment of borrowed money. There is no basis upon which
any party (other than a Loan Party or the Subsidiary) could terminate a Material Contract prior to its scheduled termination date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.20. <U>Employee Benefit Plans; Canadian Plans</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Employee Benefit Plan and each Guaranteed Pension Plan has been maintained and operated in compliance in all material respects with
the provisions of ERISA and all Applicable Pension Legislation and, to the extent applicable, the Code, including but not limited to the provisions thereunder respecting prohibited transactions and the bonding of fiduciaries and other persons
handling plan funds as required by &#167;412 of ERISA. The Borrowers have heretofore delivered to the Administrative Agent the most recently completed annual report, Form 5500, with all required attachments, and actuarial statement required to be
submitted under &#167;103(d) of ERISA, with respect to each Guaranteed Pension Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No Employee Benefit Plan, which is an employee
welfare benefit plan within the meaning of &#167;3(1) or &#167;3(2)(B) of ERISA, provides benefit coverage subsequent to termination of employment, except as required by Title I, Part 6 of ERISA or the applicable state insurance laws. The Borrowers
may terminate each such Employee Benefit Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrowers without liability to any Person other than for claims arising prior to
termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Each contribution required to be made to a Guaranteed Pension Plan under the Pension Funding Rules, has been timely
made. No waiver of the minimum funding standards or extension of amortization periods under the Pension Funding Rules has been received with respect to any Guaranteed Pension Plan, and neither the Borrowers nor any ERISA Affiliate is obligated to or
has posted security in connection with an amendment to a Guaranteed Pension Plan pursuant to &#167;436 of the Code or, prior to the effective date as to such Guaranteed Pension Plan of the Pension Protection Act of 2006, &#167;307 of ERISA or
&#167;401(a)(29) of the Code. No liability to the PBGC (other than required insurance premiums, all of which have been timely paid) has been incurred by the Borrowers or any ERISA Affiliate with respect to any
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


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Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other than an ERISA Reportable Event as to which the requirement of 30 days notice has been waived under PBGC
&#167;4043), or any other event or condition which presents a material risk of termination of any Guaranteed Pension Plan by the PBGC. Based on the latest valuation of each Guaranteed Pension Plan (which in each case occurred within twelve months of
the date of this representation), and on the actuarial methods and assumptions employed for that valuation, the aggregate benefit liabilities of all such Guaranteed Pension Plans within the meaning of &#167;4001 of ERISA did not exceed the aggregate
value of the assets of all such Guaranteed Pension Plans, disregarding for this purpose the benefit liabilities and assets of any Guaranteed Pension Plan with assets in excess of benefit liabilities, by more than $500,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Neither the Borrowers nor any ERISA Affiliate has incurred any material liability (including secondary liability) to any Multiemployer
Plan as a result of a complete or partial withdrawal from such Multiemployer Plan under &#167;4201 of ERISA or as a result of a sale of assets described in &#167;4204 of ERISA. Neither the Borrowers nor any ERISA Affiliate has been notified that any
Multiemployer Plan is in reorganization or insolvent under and within the meaning of &#167;4241 or &#167;4245 of ERISA or is at risk of entering reorganization or becoming insolvent, or that any Multiemployer Plan intends to terminate or has been
terminated under &#167;4041A of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) None of the Canadian Loan Parties or any of their Subsidiaries have any Canadian Plan other
than those listed on <B>Schedule&nbsp;9.1.20</B>, and all monthly and other payments in respect of such Canadian Plans which are pension plans (on account of contributions, special contributions or unfunded liability or solvency deficiencies) or
otherwise are accurately set forth in<B> Schedule&nbsp;9.1.20</B>. No Canadian Plan has been terminated or partially terminated or is insolvent or in reorganization, nor have any proceedings been instituted to terminate, in whole or in part, or
reorganize any Canadian Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) None of the Canadian Loan Parties or any of their Subsidiaries have ceased to participate (in whole or
in part) as a participating employer in any Canadian Plan which is a pension plan or has withdrawn from any Canadian Plan which is a pension plan in a complete or partial withdrawal, nor has a condition occurred which if continued would result in a
complete or partial withdrawal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) None of the Canadian Loan Parties or any of their Subsidiaries have any unfunded liability on windup
or withdrawal liability, including contingent withdrawal or windup liability, to any Canadian Plan or any solvency deficiency in respect of any Canadian Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) None of the Canadian Loan Parties or any of their Subsidiaries have any unfunded liability on windup or any liability in respect of any
Canadian Plan (including to the FSCO) other than for required insurance premiums or contributions or remittances which have been paid, contributed and remitted when due. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Each Canadian Loan Party and each Subsidiary of a Canadian Loan Party has made all contributions to its Canadian Plans required by
[<STRIKE>law</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Applicable Law</B></U> or the terms thereof to be made by it when due, and it is not in arrears in the payment of any contribution, payment, remittance or assessment or
in default in filing any reports, returns, statements, and similar documents in respect of the Canadian Plans required to be made or paid by it pursuant to any Canadian Plan, any Applicable Law, act, regulation, directive or order or any employment,
union, pension, deferred profit sharing, benefit, bonus or other similar agreement or arrangement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) None of the Canadian Loan Parties
or any of their Subsidiaries are liable or, to the best of the Borrowers&#146; knowledge, alleged to be liable, to any employee or former employee, director or former director, officer or former officer or other Person resulting from any violation
or alleged violation of any Canadian Plan, any fiduciary duty, any Applicable Law or agreement in relation to any Canadian Plan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


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or has any unfunded pension or like obligations or solvency deficiency (including any past service or experience deficiency funding liabilities), other than accrued obligations not yet due, for
which it has made full provision in its books and records. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) All vacation pay, bonuses, salaries and wages, to the extent accruing due,
are properly reflected in the Canadian Loan Parties&#146; and their Subsidiaries&#146; books and records. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) Without limiting the
foregoing, all of the Canadian Loan Parties&#146; and their Subsidiaries&#146; Canadian Plans are duly registered where required by, and are in compliance and good standing in all material respects under, all Applicable Laws, acts, statutes,
regulations, orders, directives and agreements, including, without limitation, the ITA, the <I>Supplemental Pension Plans Act </I>(Quebec) and the <I>Pension Benefits Act </I>(Ontario), any successor legislation thereto, and other Applicable Pension
Legislation of any jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) None of the Canadian Loan Parties or any of their Subsidiaries have made any application for a
funding waiver or extension of any amortization period in respect of any Canadian Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) There has been no prohibited transaction or
violation of any fiduciary responsibilities with respect to any Canadian Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) There are no outstanding or pending or threatened
investigations, claims, suits or proceedings in respect of any Canadian Plans (including to assert rights or claims to benefits) that could give rise to a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) None of the Canadian Loan Parties or any of their Subsidiaries maintain any Canadian Plan that is a defined benefit pension plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.21. <U>Trade Relations</U></B>. There exists no actual or threatened termination, limitation or modification of any business
relationship between any Loan Party or any Subsidiary and any customer or supplier, or any group of customers or suppliers, individually or in the aggregate the consequence of which could reasonably be expected to result in a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.22. <U>Labor Relations</U></B>. Except as described on <B>Schedule 9.1.22</B>, no Loan Party or Subsidiary is party to or
bound by any (a)&nbsp;management agreement, (b)&nbsp;consulting agreement where the aggregate obligations of such Loan Party or Subsidiary thereunder are in excess of the Dollar Equivalent of $100,000 or (c)&nbsp;collective bargaining agreement.
There are no material grievances, disputes or controversies with any union or other organization of any Loan Party&#146;s or Subsidiary&#146;s employees, or, to any Loan Party&#146;s knowledge, any asserted or threatened strikes, work stoppages or
demands for collective bargaining that, in any case, could reasonably be expected to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.23.
<U>Not a Regulated Entity</U></B>. No Loan Party is (a)&nbsp;an &#147;investment company&#148; or a &#147;person directly or indirectly controlled by or acting on behalf of an investment company&#148; within the meaning of the Investment Company Act
of 1940; (b)&nbsp;a &#147;holding company&#148;, or a &#147;subsidiary company&#148; of a &#147;holding company&#148;, or an &#147;affiliate&#148; of a &#147;holding company&#148;, as such terms are defined in the Public Utility Holding Company Act
of 2005; or (c)&nbsp;subject to regulation under the Federal Power Act, the Interstate Commerce Act, any public utilities code or any other Applicable Law regarding its authority to incur Debt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.24. <U>Margin Stock</U></B>. No Loan Party or Subsidiary is engaged, principally or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying any Margin Stock. No Loan proceeds or Letters of Credit will be used by the Loan Parties to purchase or carry, or to reduce or refinance any Debt incurred to purchase or carry, any Margin
Stock or for any related purpose governed by Regulations T, U or X of the Board of Governors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.25. <U>Certain Transactions</U>.</B> Except as set forth on <B>Schedule 9.1.25 </B>and
except with respect to employee discount and similar programs conducted in the ordinary course of business and consistent with past practices, none of the officers, directors, or employees of any Loan Party is presently a party to any transaction
with any Loan Party (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or
from, or otherwise requiring payments to or from, any officer, director or such employee or, to the knowledge of any Loan Party, any corporation, partnership, trust or other Person in which any officer, director, or any such employee has a
substantial interest or is an officer, director, trustee or partner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.26. <U>Patriot Act</U></B>. To the extent applicable, each
Loan Party is in compliance, in all material respects, with the (i)&nbsp;Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended)
and any other enabling legislation or executive order relating thereto, and (ii)&nbsp;the Patriot Act. No part of the proceeds of the Loans or Letters of Credit will be used, directly or indirectly, for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and the </B><B><I>Corruption of Foreign Public Officials Act</I></B><B> (Canada)</B></U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.27. <U>Complete Disclosure</U>.</B> No (x)&nbsp;Loan Document or (y)&nbsp;information (except financial projections) provided by or on
behalf of any Loan Party and delivered to the Lenders in connection with the transactions contemplated hereby, contains, as and when delivered, any untrue statement of a material fact, nor fails to disclose any material fact necessary to make the
statements contained therein not materially misleading. All financial projections provided by or on behalf of any Loan Party and delivered to the Lenders in connection with the transactions contemplated hereby have been prepared in good faith based
on reasonable assumptions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.28. <U>Use of Proceeds</U></B>. The proceeds of the Loans shall be used solely for working capital and
general corporate purposes. The Borrowers will obtain Letters of Credit solely in accordance with their ordinary course of business. No proceeds of the Loans may be used, nor shall any be requested, with a view towards the accumulation of any
general fund or funded reserve of the Borrowers other than in the ordinary course of the Borrowers&#146; business and consistent with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.29.
[<STRIKE>[Reserved]</STRIKE></B><STRIKE>.<B></B></STRIKE><B></B><B>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt">Sanctions. No Loan Party nor any of its Subsidiaries is in violation of any of the country or list based economic and trade
sanctions administered and enforced by OFAC or the Government of Canada. No Loan Party nor any of its Subsidiaries (a)&nbsp;is a Sanctioned Person or a Sanctioned Entity, (b)&nbsp;has its assets located in Sanctioned Entities, or (c)&nbsp;derives
revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. No proceeds of any loan made hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a
Sanctioned Person or a Sanctioned Entity.</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.30. [Reserved]</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.31. <U>Alloyco International</U></B><B>.</B> As of the Closing<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Date and
Fifth Amendment Effective</U></B> Date, no Loan Party utilizes Alloyco International Inc. as a processor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>9.1.32. <U>Certain
Consignment Arrangements</U></B><B></B>.<B></B> As of the Closing<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> Date and Fifth Amendment Effective</B></U> Date, no Loan Party holds any consigned inventory from any of Clover Corporation,
M. Fabrikant&nbsp;&amp; Sons, Inc. or S.H.R. Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 10. COVENANTS AND CONTINUING AGREEMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10.1. <U>Affirmative Covenants</U>.</B> For so long as any Commitments or Obligations are outstanding, each Loan Party shall, and shall
cause each Subsidiary to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.1. <U>Inspections; Collateral Reports; Appraisals</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Permit the Lenders, through the Administrative Agent, the Canadian Agent or any of the Lenders&#146; other designated
representatives, to visit and inspect any of the properties of the Loan Parties or any of their Subsidiaries, to examine the books of account of the Loan Parties and their Subsidiaries (and, subject to the confidentiality provisions contained
herein, to make copies thereof and extracts therefrom, duplicate, cause to be reduced to hard copy, run off, draw off, and otherwise use any and all computer or electronically stored information or data which relates to the Loan Parties, or any
service bureau, contractor, accountant, or other person), and to discuss the affairs, finances and accounts of the Loan Parties and their Subsidiaries with, and to be advised as to the same by, its and their officers, and to conduct examinations and
verifications (whether by internal commercial finance examiners or independent auditors) of all components included in the US Borrowing Capacity, the Canadian Borrowing Capacity and the Term Loan Borrowing Capacity, all, prior to the occurrence and
during the continuance of an Event of Default, upon prior reasonable notice and at such reasonable times and intervals as the Administrative Agent, the Canadian Agent or any Lender may reasonably request. The Administrative Agent may, at the
Borrowers&#146; expense, participate in or observe any physical count of inventory included in the Collateral. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Upon
the request of the Administrative Agent and at the Borrowers&#146; expense, but in any event not to exceed three (3)&nbsp;times during each calendar year in which no Event of Default has occurred or is continuing, the Borrowers will obtain and
deliver to the Administrative Agent, or, if the Administrative Agent so elects, will cooperate with the Administrative Agent in the Administrative Agent obtaining, a report of an independent collateral auditor satisfactory to the Administrative
Agent (which auditor shall not be affiliated with any existing Lender or any existing Term Loan Lender) with respect to the Accounts and Inventory components included in the US Borrowing Capacity, the Canadian Borrowing Capacity and the Term Loan
Borrowing Capacity (each, a &#147;<B>Collateral Value Report</B>&#148;), which Collateral Value Report shall indicate whether or not the information set forth in the Borrowing Base Certificate most recently delivered is accurate and complete in all
material respects based upon a review by such auditors of the Accounts (including verification with respect to the amount, aging, identity and credit of the respective Account Debtors and the billing practices of the Borrowers or their applicable
Subsidiary) and Inventory (including verification as to the ownership, value, location and respective types). Notwithstanding the foregoing, (i)&nbsp;if any Event of Default occurs or is continuing during any calendar year, the above limitation on
the number of Collateral Value Reports at the Borrowers&#146; expense during such year shall be eliminated and (ii)&nbsp;absent such an Event of Default, the Administrative Agent may require the Borrowers to obtain and deliver to the Administrative
Agent, or cooperate with the Administrative Agent in the Administrative Agent obtaining, such additional Collateral Value Reports in excess of the limitations on the number of appraisals set forth above as it deems necessary or desirable, at the
expense of the Lenders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Upon the request of the Administrative Agent and at the Borrowers&#146;
expense, but in any event not to exceed three (3)&nbsp;times during each calendar year in which no Event of Default has occurred or is continuing, the Borrowers will obtain and deliver to the Agents appraisal reports, or if the Administrative Agent
so elects, will cooperate with the Administrative Agent in the Administrative Agent obtaining appraisal reports, in each case in form and substance reasonably satisfactory to the Administrative Agent and from appraisers reasonably satisfactory to
the Administrative Agent, stating the then current net orderly liquidation value or going out of business values of all or a portion of the Inventory and the then current forced liquidation value of all or any portion of the Private Label Accounts
and all Accounts due from corporate sales accounts and wholesale accounts. Upon the request of any Agent and at the Borrowers&#146; expense, the Borrowers will obtain and deliver to the Agents appraisal reports in form and substance and from
appraisers reasonably satisfactory to the Administrative Agent, stating (i)&nbsp;the then current fair market, orderly liquidation and forced liquidation values of all or any portion of the Inventory, Accounts, the Equipment or Real Estate owned by
the Borrowers or any of their Subsidiaries and (ii)&nbsp;the then current liquidation value of each of the Borrowers and their Subsidiaries. Notwithstanding the foregoing, (i)&nbsp;if any Event of Default occurs or is continuing during any calendar
year, the above limitation on the number of appraisal reports at the Borrowers&#146; expense during such year shall be eliminated and (ii)&nbsp;absent such an Event of Default, the Administrative Agent may require the Borrowers to obtain and deliver
to the Administrative Agent, or cooperate with the Administrative Agent in the Administrative Agent obtaining, such additional appraisal reports in excess of the limitations on the number of appraisals set forth above as it deems necessary or
desirable, at the expense of the Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10.1.2. <U>Financial and Other Information</U></B>. Keep adequate records and books of
account with respect to its business activities, in which proper entries are made in accordance with GAAP reflecting all financial transactions; and furnish to the Agents and the Lenders: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) as soon as available, but in any event not later than (i)&nbsp;90 days after the close of each Fiscal Year, the unaudited consolidated
balance sheet of the Borrowers and their Subsidiaries as at the end of such Fiscal Year, and the related consolidated statement of income, shareholder&#146;s equity, cash flows and same store sales performance metrics of the Borrowers and their
Subsidiaries for such Fiscal Year, <U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>along with a management&#146;s discussion and analysis in connection with the foregoing, </B></U>which statements shall be in reasonable detail and, other
than with respect to such same store sales performance metrics, prepared in accordance with GAAP (except for the absence of footnotes, normal recording year-end adjustments, and consolidation and elimination entries and intercompany charges) and in
each case shall set forth in comparative form corresponding figures for the preceding Fiscal Year, the most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B> and other information acceptable to the Administrative Agent and
(ii)&nbsp;the earlier of (x)&nbsp;120 days after the close of each Fiscal Year and (y)&nbsp;the date on which the audited financial statements of the Borrowers and their Subsidiaries are provided to any other Person, consolidated balance sheet of
the Borrowers and their Subsidiaries as at the end of such Fiscal Year, and the related consolidated statement of income, shareholder&#146;s equity and cash flows of the Borrowers and their Subsidiaries for such Fiscal Year, which consolidated
financial statements shall be audited and certified (without qualification as to scope, &#147;going concern&#148; or similar items) by a firm of independent certified public accountants of recognized standing selected by the Borrowers and acceptable
to the Administrative Agent (it being acknowledged that KPMG LLP shall be acceptable to the Administrative Agent), and shall set forth in comparative form corresponding figures for the preceding Fiscal Year and the most recent projections provided
pursuant to <B>Section&nbsp;10.1.2(g)</B> and other information acceptable to the Administrative Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) as soon as available, but in
any event not later than 45 days after the end of each Fiscal Quarter of each Fiscal Year of the Borrowers (including, without limitation, the fourth Fiscal Quarter </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of each Fiscal Year of the Borrowers for which the deadline shall be 75 days), unaudited balance sheets as of the end of such Fiscal Quarter and the related statements of income and cash flows
and same store sales performance metrics for such Fiscal Quarter and for the portion of the Fiscal Year then elapsed, on a consolidated basis for the Borrowers and their Subsidiaries, setting forth in comparative form corresponding figures for the
preceding Fiscal Year and the most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B> and certified by a Senior Officer of the Borrowers as prepared in accordance with GAAP (other than with respect to such same store sales
performance metrics) and fairly presenting the financial position and results of operations for such Fiscal Quarter and period, subject to normal year-end adjustments<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>, along with, after the
end of the second Fiscal Quarter of each Fiscal Year, a management&#146;s discussion and analysis in connection with the foregoing, provided that at the end of the first and third Fiscal Quarters the management&#146;s discussion and analysis shall
be in summary form</B></U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) as soon as available, but in any event not later than 30 days after the end of each month (including,
without limitation, the third month of each Fiscal Quarter), unaudited balance sheets as of the end of such month and the related statements of income and cash flows and same store sales performance metrics for such month and for the portion of the
Fiscal Year then elapsed, on a consolidated basis for the Borrowers and their Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and the most recent projections provided pursuant to
<B>Section&nbsp;10.1.2(g)</B> and certified by a Senior Officer of the Borrowers as prepared in accordance with GAAP (other than such same store sales performance metrics) and fairly presenting the financial position and results of operations for
such month and period, subject to normal year-end adjustments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>(i)
</B></U>concurrently with delivery of financial statements under clauses (a), (b)&nbsp;and (c)&nbsp;above<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B> and (ii)&nbsp;at the end of each monthly period for which the financial covenant
pursuant to Section&nbsp;10.2.28 is required to be tested</B></U>, or more frequently if requested by the Administrative Agent while an Event of Default exists, a Compliance Certificate executed by a Senior Officer of each Borrower (with such
certification to be in such Person&#146;s capacity as a Senior Officer of such Borrower and not in such Person&#146;s individual capacity); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) concurrently with delivery of financial statements under <B>clause&nbsp;(a)</B> above, and otherwise promptly after the request by the
Administrative Agent, copies of any detailed audit reports or management letters submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants in connection with the accounts or
books of any Loan Party or any Subsidiary, or any audit of any of them; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) concurrently with delivery of financial statements under
<B>clause&nbsp;(b)</B> above, and otherwise promptly after the request by the Administrative Agent, a certificate of a duly authorized officer of each Borrower either confirming that there has been no change in such information since the date of the
information certificates delivered on the Closing Date or the date of the most recent information certificate delivered pursuant to this Section and/or identifying such changes; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) from time to time upon request of the Agents, but in any event no later than 30 days prior to the beginning of each Fiscal Year of the
Borrowers, draft projections of the Loan Parties&#146; consolidated balance sheets, results of operations, cash flow, budgets and availability under the credit facilities (including, without limitation, projections of US Revolver Excess
Availability, Canadian Revolver Excess Availability, Revolver Excess Availability and Aggregate Revolver Excess Availability ) for the next three Fiscal Years, year by year, and for such Fiscal Year, on a month by month basis, such draft projections
to be made in good faith based on reasonable assumptions of the Borrowers at the time made; and from time to time upon request of the Agents, but in any event no later than 45 days following the beginning of each Fiscal Year of the Borrowers, final
projections of the Loan Parties for each of the types of statements identified herein; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) concurrently with delivery of financial statements under <B>clause&nbsp;(b)</B> above, a
report setting forth a listing of any new stores, offices or places of business of the Loan Parties since the delivery of the last such report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) at any Agent&#146;s request, a listing of each Loan Party&#146;s trade payables (including, without limitation, with respect to the
Damiani Debt), specifying the trade creditor and balance due, and a detailed trade payable aging; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) promptly after the sending or
filing thereof, copies of any proxy statements, financial statements or reports that any Loan Party has made generally available to its shareholders; copies of any regular, periodic and special reports or registration statements or prospectuses that
any Loan Party files with the Securities and Exchange Commission or any other Governmental Authority, or any securities exchange; and copies of any press releases or other statements made available by a Loan Party to the public concerning material
changes to or developments in the business of such Loan Party; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) compliance certificates (or such other evidence of compliance) with
the terms of the Term Loan Documents (or any documents relating to renewals, refinancings and extensions of the Debt incurred thereunder), in each case, at the times and in the forms delivered to the agents and/or the lenders under the Term Loan
Documents (or any documents relating to renewals, refinancings and extensions of the Debt incurred thereunder); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) within fifteen
(15)&nbsp;days after the end of each calendar month in each Fiscal Year of the Borrowers, a certification by a Senior Officer of each Borrower, in form and substance reasonably satisfactory to the Administrative Agent (i)&nbsp;that all rent payments
of the Borrowers and their Subsidiaries have been made, (ii)&nbsp;that no lease defaults exist for such period, (iii)&nbsp;as to the amount of outstanding consignment accounts payable for such calendar month and the book value determined in
accordance with GAAP of Inventory held on a consignment basis and (iv)&nbsp;describing the long-term debt of the Borrowers and their Subsidiaries as of the end of such calendar month; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;(i) promptly upon request of the Administrative Agent, furnish to the Administrative Agent a copy of the most recent actuarial
statement required to be submitted under &#167;103(d) of ERISA, other Applicable Pension Legislation and Annual Report, Form 5500 or other similar document with all required attachments, in respect of each Guaranteed Pension Plan and Canadian Plan,
(ii)&nbsp;promptly upon receipt or dispatch, furnish to the Administrative Agent any notice, report or demand sent or received in respect of a Guaranteed Pension Plan under &#167;&#167;302, 4041, 4042, 4043, 4063, 4065, 4066 and 4068 of ERISA, or in
respect of a Multiemployer Plan under &#167;4041A, 4202, 4219, 4242, or 4245 of ERISA or in respect of a Canadian Plan or other similar provisions of Applicable Pension Legislation, (iii)&nbsp;promptly deliver to the Administrative Agent all
information required to be reported to the PBGC under Section&nbsp;4010 of ERISA, (iv)&nbsp;promptly deliver to the Administrative Agent such other documents or governmental reports or filings relating to any Guaranteed Pension Plan, Multiemployer
Plan or Canadian Plan as the Administrative Agent shall reasonably request and (v)&nbsp;promptly following any request therefor, on and after the effective date of the Pension Protection Act of 2006, the Borrowers shall deliver to the Administrative
Agent copies of any documents or notices described in Sections 101(j), (k)&nbsp;or (l)&nbsp;of ERISA that the Borrowers or any ERISA Affiliate may request with respect to any Guaranteed Pension Plan or Multiemployer Plan, as applicable; provided,
that if the Borrowers or any ERISA Affiliate have not requested such documents or notices from the administrator of sponsor of the applicable Guaranteed Pension Plan or Multiemployer Plan, the Borrowers or ERISA Affiliate shall, upon request from
the Administrative Agent, promptly make a request for such documents or notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) promptly upon delivery thereof, copies of all documents and materials of a material financial
nature or otherwise provided to any other creditor of any Loan Party or any Subsidiary<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>, including but not limited to any items delivered pursuant to the Term Loan Agreement</B></U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) promptly upon request therefor, all information pertaining to the Loan Parties and their Subsidiaries reasonably requested by any Lender
in order for such Lender to comply with the provisions of the Patriot Act; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) at the request of the Administrative Agent, a thirteen
(13)&nbsp;week cash flow report; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) such other reports and information (financial or otherwise) as any Agent may request from time to
time in connection with any Collateral or any Loan Party&#146;s or the Subsidiary&#146;s financial condition or business; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r)
promptly but in any event no later than ten (10)&nbsp;days after any Loan Party&#146;s entry into any consignment arrangement (whether such consignment arrangement is documented or otherwise) in which such Loan Party acts as a consignee (including,
without limitation, pursuant to Section&nbsp;4.1 of the Damiani Distribution Agreement), notify the Agents in writing of such consignment arrangement, specifying the consignor, the consignee, the term of the consignment arrangement, the goods to be
consigned and any other material terms of such arrangements and, at the request of the Administrative Agent, promptly deliver true, complete and accurate copies of such consignment agreement and related documents and any amendments, modifications,
supplements, waivers or other modifications thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Documents required to be delivered pursuant to <B>Sections&nbsp;10.1.2(a),
(b)</B>&nbsp;or <B>(j)</B> (to the extent any such documents are included in materials otherwise filed with the Securities and Exchange Commission) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the
date (i)&nbsp;on which the applicable Borrower posts such documents, or provides a link thereto on such Borrower&#146;s website on the Internet at the website address indicated in writing to the Agents and the Lenders by the Borrower Agent; or
(ii)&nbsp;on which such documents are posted on such Borrower&#146;s behalf on an Internet or intranet website, if any, to which each Lender and each Agent have access (whether a commercial, third-party website or whether sponsored by any Agent);
<U>provided</U> that: (i)&nbsp;such Borrower shall deliver paper copies of such documents to any Agent or any Lender that requests such Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by such
Agent or such Lender and (ii)&nbsp;such Borrower shall notify each Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Agents and the Lenders by electronic mail electronic versions
(<U>i.e.</U>, soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Borrowers shall be required to provide paper copies of the Compliance Certificates to the Agents and the Lenders. Except for such
Compliance Certificates, no Agent shall have any obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrowers with any such request
for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Loan Parties hereby acknowledge that (a)&nbsp;the Agents and/or the Arrangers will make available to the Lenders and the Issuing Banks materials and/or information provided by or on behalf of the Loan Parties hereunder (collectively,
&#147;<U>Borrower Materials</U>&#148;) by posting the Borrower Materials on IntraLinks or another similar electronic system (the &#147;<U>Platform</U>&#148;) and (b) certain of the Lenders may be &#147;public-side&#148; Lenders (<I>i.e.,</I> the
Lenders that do not wish to receive material non-public information with respect to the Loan Parties or their securities) (each, a &#147;<U>Public Lender</U>&#148;). The Loan Parties hereby agree that (w)&nbsp;all
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


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Borrower Materials that are to be made available to the Public Lenders shall be clearly and conspicuously marked &#147;PUBLIC&#148; which, at a minimum, shall mean that the word
&#147;PUBLIC&#148; shall appear prominently on the first page thereof; (x)&nbsp;by marking Borrower Materials &#147;PUBLIC,&#148; the Loan Parties shall be deemed to have authorized the Agents, the Arrangers, the Issuing Banks and the Lenders to
treat such Borrower Materials as not containing any material non-public information with respect to the Loan Parties or their securities for purposes of United States Federal and state securities laws (<U>provided</U>, <U>however</U>, that to the
extent such Borrower Materials constitute confidential information in accordance with <B>Section&nbsp;14.11</B>, they shall be treated as set forth in such Section); (y)&nbsp;all Borrower Materials marked &#147;PUBLIC&#148; are permitted to be made
available through a portion of the Platform designated &#147;Public Investor;&#148; and (z)&nbsp;the Agents and Arrangers shall be entitled to treat any Borrower Materials that are not marked &#147;PUBLIC&#148; as being suitable only for posting on
a portion of the Platform not designated &#147;Public Investor.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.3. <U>Notices</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Notify the Agents and the Lenders in writing, promptly after any Senior Officer of any Loan Party obtains knowledge thereof, of any of the
following that affects a Loan Party: (i)&nbsp;the threat or commencement of any proceeding or investigation, whether or not covered by insurance, reasonably likely to result in a Material Adverse Effect; (ii)&nbsp;any material pending or threatened
labor dispute, strike or walkout, or the expiration of any material labor contract; (iii)&nbsp;any material default under or termination of a Material Contract; (iv)&nbsp;the existence of any Default or Event of Default; (v)&nbsp;any default under
the Term Loan Documents, the Quebec Subordinated Debt Documents, the Rolex Documents, the Montrovest Debt Documents, the Damiani Debt Documents, the Additional Subordinated Debt Documents or any other document, instrument or agreement evidencing
Debt in excess of the Dollar Equivalent of $500,000; (vi)&nbsp;any judgment in an amount exceeding the Dollar Equivalent of $750,000; (vii)&nbsp;the assertion of any Intellectual Property Claim, if an adverse resolution is reasonably likely to
result in a Material Adverse Effect; (viii)&nbsp;any violation or asserted violation of any Applicable Law (including ERISA, OSHA, FLSA, or any Environmental Laws), if an adverse resolution is reasonably likely to result in a Material Adverse
Effect; (ix)&nbsp;any material Environmental Release by a Loan Party or on any Property owned, leased or occupied by a Loan Party; or receipt of any Environmental Notice; (x)&nbsp;any circumstance or occurrence reasonably likely to result in a
Material Adverse Effect; (xi)&nbsp;any change in the board of directors (or similar governing body) of either Borrower; (xii)&nbsp;the discharge of or any withdrawal or resignation by the Loan Parties&#146; independent accountants; (xiii)&nbsp;any
material change in any Loan Party&#146;s accounting or financial reporting practices; (xiv)&nbsp;any incurrence of Debt, issuance of Capital Stock or dispositions of Property with a fair market value in excess of the Dollar Equivalent of $500,000,
in each case, by any Loan Party or, if applicable, any change in any Debt rating of any Loan Party; (xv)&nbsp;any opening of a new store, office or place of business; (xvi)&nbsp;any damage to, or destruction of, any material portion of the
Collateral; (xvii)&nbsp;a US Revolver Overadvance or a Canadian Overadvance as a result of a decrease in the US Borrowing Capacity or the Canadian Borrowing Capacity, as applicable, in which case such notice shall also include the amount of such
Overadvance Loan; (xviii)&nbsp;any Loan Party&#146;s adoption of a French form of name or any change in any Loan Party&#146;s corporate name, identity, corporate structure, chief executive office, domicile or Federal Taxpayer Identification Number,
and (xix)&nbsp;any notices, materials or other information provided outside the ordinary course of business to the agents and/or lenders under the Term Loan Documents, the Quebec Subordinated Debt Documents, the Rolex Documents, the Montrovest Debt
Documents, the Damiani Debt Documents or the Additional Subordinated Debt Documents. The Loan Parties hereby agree not to effect or permit any change referred to in clause (xviii)&nbsp;above unless all filings have been made under the UCC, PPSA or
otherwise that are required in order for the Applicable Agent to continue at all times following such change to have a valid, legal and perfected security interest in and Lien on all the Collateral as contemplated in the Security Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notify the Agents in writing, promptly after any Senior Officer of any Loan Party obtains knowledge of (i)&nbsp;any determination by any
Borrower or any Subsidiary that the Inventory levels of </P>
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such Borrower or such Subsidiary are not adequate to meet the sales projections of such Borrower or such Subsidiary, and (ii)&nbsp;any failure of any Borrower or any Subsidiary to pay rent at any
location, which failure continues for more than fifteen (15)&nbsp;days following the day on which such rent is due and payable by such Borrower or such Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.4. <U>Landlord and Storage Agreements</U></B>. Upon request, provide the Administrative Agent and each Co-Collateral Agent with copies
of all existing agreements, and promptly after execution thereof provide the Administrative Agent and each Co-Collateral Agent upon request with copies of all future agreements, between a Loan Party and any landlord, warehouseman, processor,
shipper, bailee or other Person that owns any premises at which any Collateral having an aggregate value of more than the Dollar Equivalent of $100,000 may be kept or that otherwise may possess or handle any Collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.5. <U>Compliance with Laws; Organizational Documents; Material Contracts</U></B>. Comply (a)&nbsp;with all Applicable Laws, including
ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and laws regarding pension plans and the collection and payment of Taxes, and maintain all Governmental Approvals necessary to the ownership of its Properties or conduct of its business,
unless failure to comply or maintain could not reasonably be expected to have a Material Adverse Effect, (b)&nbsp;with all Organizational Documents unless failure to comply therewith would not (x)&nbsp;be reasonably expected to have a Material
Adverse Effect and (y)&nbsp;be reasonably expected to have a materially adverse effect on any Agent or any Lender and (c)&nbsp;with all of its Material Contracts except in each case where the failure to comply therewith could not reasonably be
expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, if any material Environmental Release occurs at or on any Properties of any Loan Party or any Subsidiary, it shall act promptly and diligently to
investigate and report to the Administrative Agent and all appropriate Governmental Authorities the extent of, and to make appropriate remedial action to eliminate, such Environmental Release, whether or not directed to do so by any Governmental
Authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.6. <U>Taxes</U></B>. Pay, remit and discharge all Taxes prior to the date on which they become [<STRIKE>delinquent or
penalties attach</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>past due</B></U>, unless such Taxes are being Properly Contested. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.7. <U>Insurance</U></B>. In addition to the insurance required hereunder with respect to Collateral, maintain insurance with insurers
(rated A or better by Best Rating Guide) reasonably satisfactory to the Administrative Agent, with respect to the Properties, business and business interruption of the Loan Parties and Subsidiaries of such type (including product liability,
workers&#146; compensation, larceny, embezzlement, or other criminal misappropriation insurance), in each case, in such amounts, and with such coverages and deductibles as are customary for companies similarly situated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.8. <U>Licenses</U></B>. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of
Inventory) or any other material Property of the Loan Parties and Subsidiaries in full force and effect, if the failure to maintain such License is reasonably likely to result in a Material Adverse Effect, promptly notify the Administrative Agent of
any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date and notify the Administrative Agent of any default or breach asserted by any Person to have occurred under any
License. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.9. <U>Future Subsidiaries</U></B>. Promptly notify the Administrative Agent upon any Person becoming a Subsidiary and
cause such Person, within 45 days after such Person becomes a Subsidiary, to (i)&nbsp;join this Agreement and the other Loan Documents, in a manner reasonably satisfactory to the Administrative Agent, as a Borrower or Guarantor hereunder and
thereunder (such determination to be made by the Administrative Agent in its sole discretion), and (ii)&nbsp;execute and deliver such documents, instruments and agreements and to take such other actions as the Administrative Agent shall require to
evidence and perfect a first priority Lien in favor of the Applicable Agent (for the benefit of the Secured </P>
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Parties) on all assets of such Person as security for the Obligations, including delivery of such legal opinions and such other information, in form and substance reasonably satisfactory to the
Administrative Agent, as it shall deem reasonably appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.10. <U>Payment of Obligations</U></B>. Pay and discharge as the
same shall become due and payable all its obligations and liabilities, including (a)&nbsp;all lawful claims which, if unpaid, would by law become a Lien (other than a Permitted Lien) upon its property; and (b)&nbsp;all Debt, as and when due and
payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.11.
<U>Preservation of Existence</U></B>. Preserve, renew and maintain in full force and effect its legal existence and good standing under the laws of the jurisdiction of its organization. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.12. <U>Maintenance of Properties</U></B>. Maintain, preserve and protect all of its material properties and equipment necessary in the
operation of its business in working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a
Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.13. <U>Books and Records</U></B>. Maintain proper books of record and account, in which full, true and
correct entries in conformity with GAAP consistently applied shall be made of all material financial transactions and matters involving the assets and business of such Loan Parties or such Subsidiary, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.14. <U>Compliance with Terms of Leaseholds</U></B>. Make all payments and otherwise perform all obligations in respect of all leases
of real property to which any Loan Party or any of its Subsidiaries is a party, keep such leases in full force and effect and not allow such leases to lapse or be terminated or any rights to renew such leases to be forfeited or cancelled, notify the
Administrative Agent of any default by any party with respect to such leases and cooperate with the Administrative Agent in all respects to cure any such default, and cause each of its Subsidiaries to do so, except, in any case, where the failure to
do so, either individually or in the aggregate, could not be reasonably likely to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.15. <U>Use of
Proceeds</U></B>. Use the proceeds of Loans and the issuance of Letters of Credit solely for the purposes set forth in <B>Section&nbsp;2.1.3</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.16. <U>Lien Searches</U></B>. Promptly following receipt of the acknowledgment copy of any financing statements filed under the UCC or
the PPSA in any jurisdiction (or the equivalent in any foreign jurisdiction) by or on behalf of the Secured Parties, deliver to the Agents completed requests for information listing such financing statement and all other effective financing
statements filed in such jurisdiction that name any Loan Party as debtor, together with copies of such other financing statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.17. <U>Lien Waivers and Lien Priority Agreements</U></B>. Use commercially reasonable efforts to deliver not later than 45 days after
the opening of any new location, Lien Waivers for each distribution center, warehouse or storage facility at which Collateral is located; <U>provided</U>, that the Loan Parties shall use commercially reasonable efforts to deliver not later than 10
days after the opening of any new location in a province or territory of Canada in which there is no PPSA registration, Lien Waivers for each distribution center, warehouse or storage facility at which Collateral is located. Each Loan Party shall,
and shall cause each of its Subsidiaries to, use commercially reasonable efforts to deliver a Lien Priority Agreement for each of the Loan Party&#146;s locations in the province of Qu&eacute;bec, Canada with respect to which registered hypothecs
have priority over the Lien of the Applicable Agent in any of the Collateral. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.18. <U>Sales Taxes</U>.</B> If requested by the Applicable Agent or any Co-Collateral
Agent, all or any portion of any Loan will be set aside by the relevant [<STRIKE>Borrower</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Loan Party</B></U> to cover such
[<STRIKE>Borrower</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Loan Party</B></U>&#146;s obligations for overdue sales, harmonized sales or goods and services Tax on account of sales since the then most recent Borrowing
pursuant to the Notice of Borrowing delivered in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.19. [Reserved]</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.20. <U>Lenders Meetings</U></B>. Upon the request of the Administrative Agent, any Co-Collateral Agent or the Required Lenders,
participate in a meeting of the Agents, Co-Collateral Agents and the Lenders once during each Fiscal Year to be held at the Borrowers&#146; corporate offices (or at such other location as may be agreed to by the Borrowers and the Administrative
Agent) at such time as may be agreed to by the Borrowers, the Agents and the Co-Collateral Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.21. <U>Communication with
Accountants</U></B>. Upon the Administrative Agent&#146;s or any Co-Collateral Agent&#146;s reasonable request, authorize and instruct that the Borrowers&#146; independent certified public accountants communicate with the Administrative Agent and
the Co-Collateral Agents with respect to the financial condition of the Borrowers and their Subsidiaries and make available all documents and other information reasonably requested by any Agent or Co-Collateral Agent; <U>provided</U> that the
Borrowers and the other Loan Parties may participate in all such communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.22. <U>Further Assurances</U></B>. Promptly upon
request by any Agent, or any Lender through the Administrative Agent, (a)&nbsp;correct any material defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b)&nbsp;do,
execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent, or any Lender through the Administrative
Agent, may reasonably require from time to time in order to (i)&nbsp;carry out more effectively the purposes of the Loan Documents, (ii)&nbsp;to the fullest extent permitted by Applicable Law, subject any Loan Party&#146;s or any of its
Subsidiaries&#146; properties, assets, rights or interests to the Liens now or hereafter intended to be covered by any of the Security Documents, (iii)&nbsp;perfect and maintain the validity, effectiveness and priority of any of the Security
Documents and any of the Liens intended to be created thereunder and (iv)&nbsp;assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended to be
granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.23. <U>Budget Compliance</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The initial Approved Budget shall depict, on a weekly basis, cash revenues, receipts, expenses and disbursements and other
information for the first ten (10)&nbsp;week period from the Third Amendment Effective Date and such initial Approved Budget shall be approved by, and be in form and substance satisfactory to, the Agents in their sole discretion. Until a
Recapitalization Transaction has been consummated, the Approved Budget shall be updated, modified or supplemented (with the consent and/or at the request of the Agents) from time to time, but in any event not less than on a weekly basis (with the
delivery to the Agents on or before the Friday of each week), and each such updated, modified or supplemented budget shall be approved by, and be in form and substance satisfactory to the Agents in their sole discretion, shall only add projections
for the last week of the then thirteen (13)&nbsp;week period and shall not modify any prior periods, and no such updated, modified or supplemented budget shall be effective until so approved and once so approved shall be deemed an Approved Budget;
provided that the next updated budget </P>
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to be delivered on June&nbsp;20, 2014 shall add five weeks of projections after the end of the last week of the initial Approved Budget (it being understood that the initial Approved Budget
contains projections for only ten (10)&nbsp;weeks and the addition of the five additional weeks to the budget to be delivered on June&nbsp;20, 2014 will result in a full thirteen (13)&nbsp;week cash flow). Each Approved Budget delivered to the
Agents shall be accompanied by such supporting documentation as reasonably requested by the Agents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Until a
Recapitalization Transaction has been consummated, the Borrowers shall deliver to the Agents on or before 12:00&nbsp;p.m. (Eastern time) on Friday of each week a Compliance Certificate, and such Compliance Certificate shall be in substance
satisfactory to the Agents, executed by a Senior Officer of the Borrowers certifying that (i)&nbsp;the Loan Parties are in compliance with the covenants contained herein and in the Third Amendment and (ii)&nbsp;no Default or Event of Default has
occurred or, if such a Default or Event of Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto. Together with such Compliance Certificate, the Borrowers shall
deliver an Approved Budget Variance Report, each of which shall be prepared by the Borrowers as of the last day of the Prior Week or the Cumulative Four Week Period, as applicable, and shall be in form and substance satisfactory to the Agents.
Notwithstanding the foregoing, the first Compliance Certificate and Approved Budget Variance Report shall cover the weeks ending June&nbsp;7, 2014 and June&nbsp;14, 2014 and shall be furnished on June&nbsp;20, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.24. <U>[</U></B><B><strike><u>Availability</u></strike></B><STRIKE>. The Borrowers shall maintain Revolver Excess Availability of no
less than $10,000,000 at all times; </STRIKE><strike><u>provided</u></strike><STRIKE> that no Event of Default shall be deemed to have arisen if the Revolver Excess Availability is less than $10,000,000 if (a)&nbsp;all Required Milestones are and
continue to be satisfied as and when due, (b)&nbsp;the Borrowers notify the Agents in writing in advance of the reason for the reduction in such Revolver Excess Availability, (c)&nbsp;Revolver Excess Availability is at no time less than $7,500,000,
and (d)&nbsp;Revolver Excess Availability is at least $10,000,000 no later than seven (7)&nbsp;days after the date that it was not maintained at
$10,000,000.</STRIKE><B><U>]</U><U STYLE="border-bottom:1pt double; padding-bottom:1pt">[Reserved].</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.1.25. <U>Financial and
Restructuring Consultant Retention</U></B>. The Borrowers shall retain Richter Advisory Services Inc. (or another financial and restructuring consultant reasonably satisfactory to the Agents) to provide services on terms and scope of engagement
reasonably satisfactory to the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>[</B><B><STRIKE>10.1.26. </STRIKE></B><B><strike><u>Replacement Montrovest
LC</u></strike></B><STRIKE>. The Borrowers shall, within five (5)&nbsp;Business Days from the Third Amendment Effective Date, deliver to the Agents an amended Montrovest LC in form and substance and on terms satisfactory to the Agents and the Term
Loan Agent.</STRIKE><B>]</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10.2. <U>Negative Covenants</U>.</B> For so long as any Commitments or Obligations are outstanding, each
Loan Party shall not, and shall cause each Subsidiary not to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.1. <U>Permitted Debt</U></B>. Create, incur, guarantee or suffer to
exist any Debt, except: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Obligations; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Term Loan Debt; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
the Quebec Subordinated Debt in an outstanding amount not to exceed Cdn. $12,100,000 at any time and solely to the extent that such Debt is subject to the Quebec Subordination Agreements; <U>provided</U> that (i)&nbsp;the Quebec Subordinated Debt
Documents shall be in form and substance reasonably satisfactory to the Agents and the Required Lenders and (ii)&nbsp;the Quebec Subordinated Debt shall be subject to the Quebec Subordination Agreements; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Intercompany Debt; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the Ordinary Course
of Business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Debt described in <B>Schedule 10.2.1</B><I>, </I>but not any extensions, renewals or replacements of such Debt except
(i)&nbsp;renewals and extensions expressly provided for in the agreements evidencing any such Debt as the same are in effect on the date of this Agreement and (ii)&nbsp;refinancings and extensions of any such Debt if the terms and conditions thereof
are not materially less favorable (taken as a whole) to the obligor thereon or to the Lenders than the Debt being refinanced or extended, and the average life to maturity thereof is greater than or equal to that of the Debt being refinanced or
extended; <U>provided</U> that such Debt permitted under the immediately preceding clause (i)&nbsp;or (ii)&nbsp;above shall not (A)&nbsp;include Debt of an obligor that was not an obligor with respect to the Debt being extended, renewed or
refinanced, (B)&nbsp;exceed in a principal amount the Debt being renewed, extended or refinanced, except by an amount equal to a premium on or other amount paid and fees and expenses reasonably incurred in connection with such renewal, extension or
refinancing or (C)&nbsp;be incurred, created or assumed if any Default or Event of Default has occurred and is continuing or would result therefrom; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Debt incurred in connection with the acquisition, lease or leasing after the Closing Date of any equipment or fixtures by a Loan Party or
under any Capital Lease, <U>provided</U> that the aggregate principal amount of such Debt of the Loan Parties shall not exceed the Dollar Equivalent of $15,000,000 at any one time; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) [Reserved]; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)
[Reserved]; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) such other unsecured Debt that is expressly subordinated to the Full Payment of the Obligations on terms and conditions
and pursuant to a subordination agreement acceptable to the Agents and the Required Lenders; <U>provided</U> that the aggregate principal amount of such Debt of the Loan Parties shall not exceed the Dollar Equivalent of $15,000,000 at any one time;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) unsecured Debt constituting the Management Debt to the extent subject to the Management Subordination Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) such other Additional Subordinated Debt of the Loan Parties; <U>provided</U> that the aggregate principal amount of such Additional
Subordinated Debt of the Loan Parties shall not exceed the Dollar Equivalent of $15,000,000 at any one time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) the Damiani Debt of
the Loan Parties; <U>provided</U> that the aggregate amount of such Damiani Debt of the Loan Parties shall not exceed the Dollar Equivalent of $10,600,000 at any one time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.2. <U>Permitted Liens</U></B>. Create or suffer to exist any Lien upon any of its Property, except the following (collectively,
&#147;<U>Permitted Liens</U>&#148;): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Liens in favor of the Agents (or any of them) for the benefit of the Secured Parties granted
pursuant to any Loan Document; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Liens securing the Term Loan Debt; <U>provided</U> that such Liens are expressly subordinate
and junior in priority to the Liens securing the Obligations pursuant to the Intercreditor Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Liens to secure Taxes in
respect of obligations not overdue or being Properly Contested, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP, or Liens on Properties to secure claims for labor, material or
supplies in respect of obligations not overdue or being Properly Contested, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) deposits or pledges made in connection with, or to secure payment of, workmen&#146;s compensation, unemployment insurance, old age
pensions or other social security or like obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Liens on Properties in respect of judgments or awards that have been in force
for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which a Borrower or any such Subsidiary shall at the time in good faith be prosecuting an appeal or proceedings for review and in
respect of which a stay of execution shall have been obtained pending such appeal or review; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Liens of carriers, warehousemen,
mechanics and materialmen, and other like Liens on Properties, in existence less than 120 days from the date of creation thereof in respect of obligations not overdue or being Properly Contested, if adequate reserves with respect thereto are
maintained on the books of the applicable Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) encumbrances on Real Estate consisting of easements, servitudes, rights of way,
zoning restrictions, restrictions on the use of Real Estate and defects and irregularities in the title thereto, landlord&#146;s or lessor&#146;s liens and other minor Liens, <U>provided</U> that none of such Liens (A)&nbsp;interferes materially
with the use of the Property affected in the Ordinary Course of Business, and (B)&nbsp;individually or in the aggregate has, or could reasonably be expected to have, a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Liens existing on the [<STRIKE>date hereof</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt"><B>Fifth Amendment Effective
Date</B></U> (other than Permitted Liens pursuant to clauses&nbsp;(a), (b), (j), (m), (q)&nbsp;and (r)&nbsp;of this <B>Section&nbsp;10.2.2</B>) and listed on <B>Schedule&nbsp;10.2.2</B> hereto; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) purchase money security interests in or purchase money mortgages or vendors&#146; hypothecs on Property acquired after the date hereof to
secure purchase money Debt of the type and amount permitted by <B>Section&nbsp;10.2.1(g)</B>, incurred in connection with the acquisition of such Property, which security interests, vendors&#146; hypothecs, mortgages, conditional sales agreements,
installment sales agreements or other like title retention agreements with respect to Property acquired cover only the Property so acquired, together with the accessories thereto and proceeds thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) the Rolex Liens and any Liens in favor of Rolex Canada Ltd. to the extent constituting valid and perfected purchase money security
interests in accordance with Applicable Law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) Liens of a bank or financial institution with respect to funds deposited with such
institution, including in respect of contractual rights of set-off; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) Liens representing the replacement, extension or renewal of any
Liens permitted in clauses (a)&nbsp;through (k)&nbsp;above, <U>provided</U> that (A)&nbsp;any such replacement, extension or renewal Liens shall encumber the same Property (and no additional Property of the Loan Parties) as covered by the Liens that
are so replaced, extended or renewed, and (B)&nbsp;the aggregate amount of Debt secured by such Property has not increased as a result of or in connection with such replacement, extension or renewal; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">113 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) Liens securing the Quebec Subordinated Debt permitted pursuant to
<B>Section&nbsp;10.2.1(c)</B>, <U>provided</U> that such Liens shall, at all times be, subordinate and junior in priority to the Liens securing the Obligations pursuant to the Quebec Subordination Agreements; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) [Reserved]; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) Liens
created in connection with any goods or merchandise on consignment in which any Loan Party acts as &#147;consignor&#148;, <U>provided</U> that the Borrowers shall have delivered written notice to the Administrative Agent of the applicable Loan
Party&#146;s intention to enter into such consignment arrangements at least ten (10)&nbsp;days prior to the entry thereof and shall have provided the Administrative Agent complete copies of the proposed consignment agreements (if any); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) [Reserved]; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) Liens
securing any Additional Subordinated Debt permitted under <B>Section&nbsp;10.2.1(l)</B>, <U>provided</U> that such Liens shall, at all times, be subordinate and junior in priority to the Liens securing the Obligations pursuant to a Subordination
Agreement in form, scope and substance satisfactory to the Agents and the Required Lenders; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) Liens securing the Damiani Debt
permitted under <B>Section&nbsp;10.2.1(m)</B> and Liens securing the obligations of the Loan Parties under the Damiani Debt Documents in respect of the consignment arrangements described therein, <U>provided</U> that, in each case, such Liens shall,
at all times, be subordinate and junior in priority to the Liens securing the Obligations to the extent provided in the Damiani Subordination Agreement or another Subordination Agreement in form, scope and substance satisfactory to the Agents and
the Required Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Any reference in any of the Loan Documents to a Permitted Lien is not
intended to subordinate or postpone, and shall not be interpreted as subordinating or postponing, or as any agreement to subordinate or postpone, any Lien created by any of the Loan Documents to any Permitted Lien.</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.3. <U>Equitable Lien</U></B>. If any Loan Party shall create or assume any Lien upon any of its Properties, whether now owned or
hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Debt secured thereby as long as any such Debt
shall be so secured; <U>provided</U> that, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Required Lenders to the creation or assumption of any such Lien not otherwise permitted hereby. No Loan Party shall
grant any Lien on any Property to the Term Loan Lenders unless such Loan Party grants a Lien on such Property to the Applicable Agent on a first priority basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.4. <U>No Further Negative Pledges</U></B>. Enter into any agreement prohibiting the creation or assumption of any Lien upon any of its
Properties (other than the Loan Documents and the Term Loan Documents), whether now owned or hereafter acquired, except with respect to (a)&nbsp;restrictions on specific assets which assets are the subject of purchase money security interests to the
extent permitted under <B>Section&nbsp;10.2.2(i)</B>, and (b)&nbsp;customary anti-assignment provisions contained in leases and licensing and other agreements entered into by a Loan Party in the Ordinary Course of Business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.5. [Reserved]</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">114 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.6. <U>Restricted Junior Payments</U></B>. Through any manner or means or through any
other Person, directly or indirectly, declare, order, pay, make or set apart, or agree to declare, order, pay, make or set apart, any sum for any Restricted Junior Payment except: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Borrowers shall be permitted to declare dividends or distributions on or in respect of any shares of any class of Capital Stock of the
Borrowers on a quarterly basis but in any event not later than forty-five (45)&nbsp;days after each date on which the Borrowers deliver their financial statements to the Lenders in accordance with <B>Section&nbsp;10.1.2(b)</B>, in each case in an
amount not to exceed 33% of Consolidated Net Income for the twelve month period ended as of each such Fiscal Quarter, <U>provided</U> that (i)&nbsp;Fixed Charge Coverage Ratio, measured on a pro forma basis after giving effect to any such payment,
is greater than 1.30:1.00, (ii)&nbsp;the aggregate amount of such dividends and distributions actually paid by the Borrowers during the twelve month period ended as of any Fiscal Quarter end shall not exceed 33% of Consolidated Net Income for such
twelve month period, (iii)&nbsp;no Default or Event of Default shall have occurred and be continuing at the time such dividends and distributions are made or would result therefrom and (iv)&nbsp;Revolver Excess Availability shall be greater than or
equal to $30,000,000 (A)&nbsp;at all times during the thirty (30)&nbsp;day period preceding the date any such dividends and distributions are made, (B)&nbsp;immediately after giving effect to the making of any such dividends and distributions and
(C)&nbsp;on a prospective basis (as demonstrated pursuant to projections of the Borrowers of the type described in <B>Section&nbsp;10.1.2(g)</B>, in form and substance reasonably satisfactory to the Agents, which shall have been delivered to the
Agents prior to the date of any such dividends and distributions are made), at all times during the twelve month period commencing on the date any such dividends and distributions are made; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Borrowers and the Guarantors shall be permitted to make any payments of principal and interest on any Intercompany Debt to the extent
permitted under <B>Section&nbsp;10.2.12</B>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the Borrowers shall be permitted to make any payment of the Management Debt to the
extent expressly permitted under the Management Subordination Agreement and no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Borrowers shall be permitted to pay Gestofi SA fees and expenses in an aggregate amount not greater than $400,000 in any Fiscal Year,
payable monthly in arrears in equal monthly payments of up to $33,333.33, for services to be provided to the Borrowers by Mr.&nbsp;Niccolo Rossi, an employee of Gestofi SA, <U>provided</U> that no Default or Event of Default shall have occurred and
be continuing at the time of such payment or would result therefrom; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Borrowers shall be permitted to (i)&nbsp;pay to any of
Regaluxe S.r.L., Montrovest B.V. or Gestofi SA, an aggregate amount not to exceed $260,000 in any Fiscal Year (or such greater amount to the extent consented to in writing by the Administrative Agent in its sole discretion) for expenses incurred by
any of Regaluxe S.r.L., Montrovest B.V. or Gestofi SA on behalf of the Chairman of the Canadian Borrower in connection with carrying out his duties as Chairman of the Canadian Borrower in the ordinary course of business and (ii)&nbsp;(x)&nbsp;pay
Regaluxe S.r.L. a fee of not more than 3.5% of the total price of the goods sold to Regaluxe S.r.L. in the form of a discount (which fee shall be payable to cover import duties and the carrying costs of value-added taxes financing) and
(y)&nbsp;reimburse Regaluxe S.r.L. for other reasonable costs and expenses incurred by Regaluxe S.r.L. in connection with the importation by Regaluxe S.r.L. of goods of the Canadian Borrower and the subsequent sale of such goods by Regaluxe S.r.L.
to certain Italian jewellery stores (so long as, to the extent requested by the Administrative Agent, the Administrative Agent is provided with satisfactory documentation supporting such fees, costs and expenses); <U>provided</U> that in each case,
no Default or Event of Default shall have occurred and be continuing at the time of such payment or would result therefrom. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">115 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.7. <U>Restrictions on Subsidiary Distributions</U></B>. Except as provided herein and in
the Term Loan Documents, the Borrowers shall not, and shall not permit any Subsidiary of the Borrowers to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any
Subsidiary of the Borrowers to (a)&nbsp;pay dividends or make any other distributions on any of such Subsidiary&#146;s Capital Stock owned by any Borrower or any other Subsidiary of any Borrower, (b)&nbsp;repay or prepay any Debt owed by such
Subsidiary to any Borrower or any other Subsidiary of such Borrower, (c)&nbsp;make loans or advances to the Borrowers or any other Subsidiary of the Borrowers, or (d)&nbsp;transfer any of its property or assets to the Borrowers or any other
Subsidiary of the Borrowers other than restrictions (i)&nbsp;in agreements evidencing Debt permitted by <B>Sections&nbsp;10.2.1(g)</B> that impose restrictions on the property so acquired, (ii)&nbsp;in any Contractual Obligation listed in
<B>Schedule 10.2.7</B> in effect on the Closing Date and (iii)&nbsp;by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into
in the Ordinary Course of Business<I>.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.8. [Reserved]</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.9. <U>Investments</U></B>. Directly or indirectly, make or own any Investment in any Person, including without limitation any Joint
Venture, except: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Investments in cash and Cash Equivalents; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Investments existing on the date hereof and listed on <B>Schedule&nbsp;9.1.6(b)</B> hereto; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Investments consisting of Intercompany Debt to the extent permitted pursuant to <B>Section&nbsp;10.2.1(d)</B>; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Investments consisting of promissory notes received as proceeds of asset dispositions permitted pursuant to
<B>Section&nbsp;10.2.13(b)</B>; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Investments consisting of loans and advances to employees for moving, entertainment,
travel and other similar expenses in the Ordinary Course of Business not to exceed the Dollar Equivalent of $250,000 in the aggregate at any time outstanding, other than any loans or advances that would be in violation of Section&nbsp;402 of
Sarbanes-Oxley; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Investments by the Borrowers or any Guarantor in BME IPCO in an amount not to exceed, in the
aggregate, the sum of (i)&nbsp;the royalty payments required to be paid by the Borrowers or any of their respective Subsidiaries under Section&nbsp;7.2 of the BME IPCO Distribution Agreement, <U>plus</U> (ii)&nbsp;the Dollar Equivalent of $250,000
in the aggregate in any Fiscal Year, <U>provided</U>, that no Default or Event of Default shall then be continuing under this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a one-time Investment by the Borrowers in CGS Canada, in an amount not to exceed $50,000; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Investments by the Borrowers in the Excluded Subsidiaries not to exceed $300,000 in the aggregate outstanding at any time
unless approved by the Administrative Agent and the Required Lenders or to the extent that the Investments are from net cash proceeds contemporaneously received by the Canadian Borrower from equity issuances, equity contributions or convertible debt
made for the sole purpose of such Investment, and if convertible debt, then so long such Indebtedness is in compliance with <B>Section&nbsp;10.2.1</B>; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the grant by the Canadian Borrower to the Excluded Subsidiaries of the exclusive right to use the trademarks identified on
<B>Schedule&nbsp;10.2.9(i) </B>hereto in Hong Kong, People&#146;s Republic of China, Mongolia and/or Macau, and the making available by the Canadian Borrower to the Excluded Subsidiaries of the Canadian Borrower&#146;s know-how, confidential or
proprietary information and similar Intellectual Property related to the business of the Canadian Borrower solely for use in Hong Kong, People&#146;s Republic of China, Macau and/or Mongolia; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">116 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, <U>however</U>, that, with the exception of Investments referred to in clauses (f), (h)&nbsp;and
(i)&nbsp;of this <B>Section&nbsp;10.2.9</B>, such Investments will be considered Investments permitted by this <B>Section&nbsp;10.2.9</B>, only if all actions have been taken to the satisfaction of the Administrative Agent to provide to the
Applicable Agent, for the benefit of the Lenders and the Agents, a first priority perfected security interest in all of such Investments free of all Liens other than Permitted Liens entitled to priority under Applicable Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.10. <U>Prepayment and Cancellation of Certain Debt</U></B>. Prepay, redeem, purchase, defease or otherwise satisfy prior to the
scheduled maturity thereof in any manner, any Debt (including, without limitation, (a)&nbsp;any Intercompany Debt or Management Debt, unless otherwise permitted pursuant to <B>Section&nbsp;10.2.6</B>, or (b)&nbsp;the Term Loan Debt or the Quebec
Subordinated Debt, in each case prior to its due date under the agreements evidencing such Debt as in effect on the Closing Date (in each case, or as amended thereafter in accordance with <B>Section&nbsp;10.2.11</B>), unless otherwise permitted
pursuant to <B>Section&nbsp;10.2.12</B>, or (c)&nbsp;the Montrovest Debt, the Damiani Debt or the Additional Subordinated Debt, in each case, prior to its respective due date under the Montrovest Debt Documents, the Damiani Debt Documents or the
Additional Subordinated Debt Documents, and as in effect on the date of entry thereof (in each case, or as amended thereafter in accordance with <B>Section&nbsp;10.2.11</B>), unless otherwise permitted pursuant to <B>Section&nbsp;10.2.12</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.11. <U>Amendments or Waivers of Term Loan Documents, Management Agreement, Quebec Subordinated Debt Documents, Montrovest Debt
Documents, Damiani Debt Documents, Additional Subordinated Debt Documents and Organizational Documents</U></B>. (a)&nbsp;Agree to any amendment, restatement, supplement or other modification to, or waiver of any of its material rights under, the
Term Loan Documents (except to the extent expressly permitted under the Intercreditor Agreement), the Management Agreement (except to the extent expressly permitted by the Management Subordination Agreement), the Quebec Subordinated Debt Documents,
the Montrovest Debt Documents (except to the extent expressly permitted by the Montrovest Subordination Agreement), the Damiani Debt Documents (except to the extent expressly permitted by the Damiani Subordination Agreement) or any Additional
Subordinated Debt Documents, without in each case obtaining the prior written consent of the Required Lenders to such amendment, restatement, supplement or other modification or waiver; or (b)&nbsp;amend, modify or change any of its Organizational
Documents (including by the filing or modification of any certificate of designation), other than any such amendments, modifications or changes which are not adverse in any material respect to the interests of the Lenders. Each Loan Party shall
deliver to the Administrative Agent complete and correct copies of any amendment, restatement, supplement or other modification to or waiver of the Term Loan Documents, the Management Agreement, the Quebec Subordinated Debt Documents, the Montrovest
Debt Documents, the Damiani Debt Documents, any Additional Subordinated Debt Documents or Organizational Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.12.
<U>Subordinated Debt; Term Loan Debt</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) [Reserved]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Make any payments in respect of the Quebec Subordinated Debt; <U>provided</U>, that the Loan Parties may make (i)&nbsp;such regularly
scheduled payments of principal and interest in respect of the Quebec Subordinated Debt so long as no Default or Event of Default then exists or would (after taking into </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">117 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
consideration the payment to be made) result therefrom, and (ii)&nbsp;prepayments of principal in respect of the Quebec Subordinated Debt so long as (A)&nbsp;Fixed Charge Coverage Ratio, measured
on a pro forma basis after giving effect to any such payment, is greater than 1.10:1.00, (B)&nbsp;Revolver Excess Availability as of such date (calculated on a pro forma basis after taking into consideration the payment to be made) shall be greater
than an amount equal to the product of (x)&nbsp;thirty percent (30%)&nbsp;<U>multiplied</U> by (y)&nbsp;the Aggregate Revolver Borrowing Capacity (provided that, for purposes of this clause (b)(ii)(B)(y), the Aggregate Revolver Borrowing Capacity
shall be calculated without deduction of the Availability Block, the Seasonal Availability Block, the Loan to Value Reserve, the Schedule III Reserve[<STRIKE>, the Term Loan Supplemental Reserve</STRIKE>] and the [<STRIKE>Term Loan Discretionary
Reserve</STRIKE>]<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Capital Block</U></B>), (C)&nbsp;such payment is made within fifteen (15)&nbsp;days after the Borrowers have delivered to the Agents the financial statements pursuant to
<B>Section&nbsp;10.1.2(b)</B>, (D)&nbsp;no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom and (E)&nbsp;not less than five (5)&nbsp;days prior to such payment, the Borrowers
shall have delivered to the Administrative Agent a certificate certifying, and providing appropriate calculations, as to the matters set forth in clauses (A)&nbsp;through (D)&nbsp;of this clause (b)(ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Make any principal payments in respect of the Term Loan Debt; <U>provided</U>, that the Loan Parties may make such principal payments so
long as (i)&nbsp;Fixed Charge Coverage Ratio, measured on a pro forma basis after giving effect to any such payment, is greater than 1.10:1.00, (ii)&nbsp;Revolver Excess Availability (calculated on a pro forma basis after taking into consideration
the payment to be made) on a prospective basis (as demonstrated pursuant to final projections of the Borrowers of the type described in <B>Section&nbsp;10.1.2(g)</B>, in form and substance reasonably satisfactory to the Agents, which shall have been
delivered to the Agents prior to the date of any such principal payments are made), at all times during the twelve month period commencing on the date any such principal payments are made shall be greater than $17,000,000, (iii)&nbsp;such payment is
made within fifteen (15)&nbsp;days after the Borrowers have delivered to the Agents the financial statements pursuant to <B>Section&nbsp;10.1.2(b)</B>, (iv)&nbsp;no Default or Event of Default then exists or would (after taking into consideration
the payment to be made) result therefrom and (v)&nbsp;not less than five (5)&nbsp;days prior to such payment, the Borrowers shall have delivered to the Administrative Agent a certificate certifying, and providing appropriate calculations, as to the
matters set forth in clauses (i)&nbsp;through (iv)&nbsp;of this clause (c). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Make any payments in respect of any Intercompany Debt;
<U>provided</U>, that the Loan Parties may make such principal and interest payments so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Make any
payments in respect of the Montrovest Debt other than regularly scheduled payments of interest in respect of the Montrovest Debt so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made)
result therefrom; <U>provided</U> that from the Third Amendment Effective Date until the Recapitalization Transaction is closed and consummated, no Loan Party shall be permitted to make cash payments of interest in respect of the Montrovest Debt;
<U>provided</U> <U>further</U> <U>however</U> that such payments of interest shall be deferred and may be paid following the closing and consummation of the Recapitalization Transaction. No prepayment of, or payments of principal on, the Montrovest
Debt may be made without the prior written consent of the Agents and the Required Lenders in their sole discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Make any payments
in respect of any Additional Subordinated Debt other than to the extent permitted pursuant to the Subordination Agreement entered into in connection with such Additional Subordinated Debt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Make any payments in respect of the Damiani Debt other than to the extent permitted pursuant to the Damiani Subordination Agreement or
another Subordination Agreement in form, scope and substance satisfactory to the Agents and the Required Lenders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">118 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.13. <U>Fundamental Changes; Asset Acquisition; Disposition of Assets</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Become a party to any merger, amalgamation or consolidation, or agree to or effect any asset acquisition or stock acquisition (other than
the acquisition of assets in the Ordinary Course of Business consistent with past practices) except (i)&nbsp;the merger, amalgamation or consolidation of one or more of the Subsidiaries of the Borrowers (other than a Borrower) or the Guarantors
(other than a Borrower) with and into one of the Borrowers or the Guarantors, <U>provided</U> that (A)&nbsp;in the event of any merger, amalgamation or consolidation of a Borrower and a Guarantor (other than a Borrower), such Borrower shall be the
continuing or surviving Person and (B)&nbsp;other than as described in clause (a)(i)(A) herein, in the event that any Borrower or any Guarantor (other than a Borrower) is a party to such merger, amalgamation or consolidation, such Borrower or such
Guarantor shall be the continuing or surviving Person, (ii)&nbsp;the merger, amalgamation or consolidation of two or more Subsidiaries of the Borrowers (other than a Borrower) or the Guarantors (other than a Borrower), <U>provided</U> that in the
event any Guarantor is a party to such merger, amalgamation, consolidation, asset acquisition or stock acquisition, such Guarantor shall be the continuing or surviving Person or (iii)&nbsp;any other mergers, amalgamations, consolidations, asset
acquisitions or stock acquisitions not otherwise contemplated pursuant to this <B>Section&nbsp;10.2.13(a)</B> in an aggregate amount not to exceed the Dollar Equivalent of $5,000,000, <U>provided</U> that, in each case, (x)&nbsp;in the event any
Borrower is a party to such merger, amalgamation, consolidation, asset acquisition or stock acquisition, such Borrower shall be the continuing or surviving Person; (y)&nbsp;the relevant Borrower or Guarantor takes all actions required by the
Applicable Agent in order for the Applicable Agent to acquire a perfected, first priority security interest in such newly acquired assets or stock; and (z)&nbsp;in the case of an asset acquisition or a stock acquisition by any Loan Party, such Loan
Party shall, at such Loan Party&#146;s expense, cause any new Subsidiary formed or acquired thereby to (A)&nbsp;join this Agreement and the other Loan Documents as required pursuant to <B>Section&nbsp;10.1.9 </B>and (B)&nbsp;if any shares of Capital
Stock or Debt of such Subsidiary are owned by or on behalf of any Loan Party, such Loan Party shall cause such shares and promissory notes evidencing such Debt to be pledged to the Administrative Agent within 45 days after such Subsidiary is formed
or acquired, <U>provided</U> that in no event shall compliance with this <B>Section&nbsp;10.2.13(a)</B> waive or be deemed a waiver or consent to any transaction giving rise to the need to comply with this <B>Section&nbsp;10.2.13(a)</B> if such
transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any such Subsidiary, an approval of such Person as a Borrower or Guarantor or permit the inclusion of any acquired assets
in the computation of the Aggregate Revolver Borrowing Capacity or Term Loan Borrowing Capacity (in each case, or any component definition thereof); or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Become a party to or agree to or effect any sale, lease, license, consignment, transfer or other disposition of assets, other than
(i)&nbsp;the sale of Inventory, the licensing of Intellectual Property and the disposition of obsolete assets, in each case in the Ordinary Course of Business and to a Person other than an Excluded Subsidiary, (ii)&nbsp;the sale of Inventory and
other assets to a Person other than an Excluded Subsidiary outside the Ordinary Course of Business in connection with Permitted Store Closings, (iii)&nbsp;the transactions described in <B>Section&nbsp;10.2.9(i)</B>, and (iv)&nbsp;as long as no Event
of Default exists or would arise therefrom, sales of assets which are approved by the Agents and Required Lenders in their sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.14. <U>Sales and Leasebacks</U></B>. Except for sales of equipment in the Ordinary Course of Business to a Person other than an
Excluded Subsidiary, enter into any arrangement, directly or indirectly, whereby any Loan Party shall sell or transfer any Property owned by it in order then or thereafter to lease such Property or lease other Property that such Loan Party intends
to use for substantially the same purpose as the Property being sold or transferred. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">119 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.15. <U>Transactions with Affiliates</U></B>. Directly or indirectly, engage in any
transaction with any Affiliate (other than for services as employees, officers and directors, including employee discounts consistent with past practices), including any contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any such Affiliate or, to the knowledge of the Borrowers, any corporation, partnership, trust or other Person in which any
such Affiliate has a substantial interest or is an officer, director, trustee or partner, except to the extent (i)&nbsp;the terms are more favorable to such Person than would have been obtainable on an arm&#146;s-length basis with an unrelated party
in the Ordinary Course of Business; or (ii)&nbsp;in accordance with <B>Section&nbsp;10.2.6(d)</B>, <B>Section&nbsp;10.2.6(e)</B>, <B>Section&nbsp;10.2.6(f)</B> or <B>Section&nbsp;10.2.13(b)(iii)</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.16. <U>Business Activities; Permitted Store Closings</U>.</B> (a)&nbsp;Engage directly or indirectly (whether through the Subsidiaries
or otherwise) in any type of business other than the businesses conducted by the Loan Parties on the Closing Date and in related businesses, (b)&nbsp;execute, alter, modify, or amend any lease; <U>provided</U>, <U>however</U>, that the Loan Parties
may (i)&nbsp;alter, modify or amend any lease in a manner beneficial to the Loan Parties so long as any such alteration, modification or amendment does not adversely affect any rights of the Agents or the Lenders hereunder and (ii)&nbsp;the Loan
Parties may terminate the leases on the retail locations which constitute a Permitted Store Closing, or (c)&nbsp;except as provided in clause (b)&nbsp;hereof, commit to, or open or close any location at which a Loan Party maintains, offers for
sales, or stores any of the Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.17. <U>Accounting Changes; Fiscal Year; Tax Consolidation</U></B>. (a)&nbsp;Make or
permit any material change, any change which would have a material impact on the results of operations or financial condition or financial statements or make any change which would be determinative as to whether or not the Borrowers and their
Subsidiaries would be in compliance with any of the covenants set forth in <B>Section&nbsp;10.2</B> hereof, in accounting policies or reporting practices, without the consent of the Administrative Agent, which consent shall not be unreasonably
withheld, except changes that are required by or permitted under GAAP or (b)&nbsp;change its Fiscal Year end from the last Saturday of March of each year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.18. <U>Margin Regulations</U></B>. Use all or any portion of the proceeds of any credit extended hereunder to purchase or carry margin
stock (within the meaning of Regulation U of the Federal Reserve Board) in contravention of Regulation U of the Federal Reserve Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.19. <U>Hedging Agreements</U></B>. Enter into any Hedging Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.20. <U>No Speculative Transactions</U></B>. Engage in any transaction involving commodity options, futures contracts or similar
transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.21. <U>Amendment of Rolex Documents</U></B>. Amend any provision of any Rolex Document in a manner adverse to the
Agents and the Secured Parties without the prior written consent of the Applicable Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.22. <U>Canadian Subsidiaries</U></B>.
Permit the Canadian Borrower to have any Subsidiary other than the US Borrower, BME IPCO and CGS Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.23. <U>Canadian
Plans</U></B>. Permit any Canadian Loan Party or any of its Subsidiaries to maintain any Canadian Plan that is a defined benefit pension plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">120 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.24. <U>Jose Hess Trademark</U></B>. Permit any Loan Party or any Subsidiary of a Loan
Party to use the &#147;Jose Hess&nbsp;&amp; Design&#148; trademark with registration number 1,100,692 until such trademark has been assigned to a Loan Party and the security interest and Lien of the Administrative Agent is properly recorded against
such trademark with the United States Patent and Trademark Office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.25. <U>Certain Consignment Arrangements</U></B>. Permit any
Loan Party or any Subsidiary of a Loan Party to (a)&nbsp;hold any consigned inventory from any of Clover Corporation, M. Fabrikant&nbsp;&amp; Sons, Inc. or S.H.R. Inc. unless and until the Administrative Agent and the Co-Collateral Agents shall have
received evidence satisfactory to the Administrative Agent and the Co-Collateral Agents that any UCC filings on record or to be recorded in respect of any consignment arrangements made by such Persons are satisfactory to the Administrative Agent and
the Co-Collateral Agents or (b)&nbsp;engage in any consignment arrangement with any Loan Party or any Subsidiary of a Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>10.2.26. <U>Budget Compliance</U></B>. Until a Recapitalization Transaction has been consummated, no Loan Party shall allow (a)&nbsp;until
Additional Availability is received, (i)&nbsp;Actual Cash Receipts for any Cumulative Four Week Period to be less than 90% of the Budgeted Cash Receipts for any such Cumulative Four Week Period and (ii)&nbsp;Actual Disbursement Amounts for any
Cumulative Four Week Period to exceed 110% of the Budgeted Disbursement Amounts for any such Cumulative Four Week Period and (b)&nbsp;after Additional Availability is received, (i)&nbsp;Actual Cash Receipts for any Cumulative Four Week Period to be
less than 87.5% of the Budgeted Cash Receipts for any such Cumulative Four Week Period and (ii)&nbsp;Actual Disbursement Amounts for any Cumulative Four Week Period to exceed 112.5% of the Budgeted Disbursement Amounts for any such Cumulative Four
Week Period. The parties acknowledge that the Borrowers may consummate special sales for consideration of at least $100,000 for which the cash proceeds for such sales are received in one reporting period but the disbursement to satisfy the payable
relating thereto is not made until a subsequent period. With respect to such special sales, an amount equal to the cash proceeds for such special sale less the related payable for the goods which are the subject of the special sale shall be included
in the period in which the full purchase price for such sale is received (it being understood that the receipt of a deposit in connection with such special sale shall not be included as a cash receipt until the goods relating thereto are received by
the purchaser and the full purchase price paid), to the end that the related payable shall be deemed a disbursement for the same period in which the cash receipts are received, whether or not such disbursement is in fact made during such period.
Thereafter, when the disbursement for such payable is actually made, such payment shall not be deemed a disbursement in the period when actually made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">10.2.27. Antilayering. Notwithstanding the foregoing, no Loan Party nor any
Subsidiary of a Loan Party will create or incur any Indebtedness which is contractually subordinated or junior in right of payment to any other Indebtedness of the Loan Parties, unless such Indebtedness is also subordinated or junior in right of
payment, in the same manner and to the same extent, to the Obligations.</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">10.2.28. Financial Covenant.</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Minimum Consolidated EBITDA. Fail to achieve Consolidated EBITDA, of at least the
amount set forth in the following table for the applicable period set forth opposite thereto:</U> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Minimum&nbsp;Consolidated<BR>EBITDA</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">9-month period ending December&nbsp;31, 2014</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">11,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">10-month period ending January&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12,850,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">121 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Minimum&nbsp;Consolidated<BR>EBITDA</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">11-month period ending February&nbsp;28, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">13,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending March&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12,750,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending April&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">13,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending May&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12,750,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending June&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">13,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending July&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">14,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending August 31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">14,250,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending September&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">14,500,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending October&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">15,250,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending November&nbsp;30, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">16,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending December&nbsp;31, 2015</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">18,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending January&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">18,500,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending February&nbsp;28, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">19,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending March&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">19,750,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending April&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending May&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending June&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">122 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Applicable Period</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Minimum&nbsp;Consolidated<BR>EBITDA</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending July&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending August&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending September&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,500,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending October&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">20,750,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending November&nbsp;30, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">21,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending December&nbsp;31, 2016</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">21,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending January&nbsp;31, 2017</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">21,250,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending February&nbsp;28, 2017</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">21,500,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">12-month period ending March&nbsp;31, 2017 and each 12-month period ending
thereafter</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">$</U></B></TD>
<TD VALIGN="bottom" ALIGN="right"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">22,000,000</U></B></TD>
<TD NOWRAP VALIGN="bottom"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Notwithstanding anything to the contrary set forth herein, the
Minimum Consolidated EBITDA financial covenant set out above shall only be tested for any period ending on or after January&nbsp;31, 2015 if Revolver Excess Availability is less than $8,000,000 for a period of at least 5 consecutive Business Days
(an &#147;Availability Shortfall&#148;), in which case such financial covenant shall be tested as at the last of day of the most recently ended fiscal month prior to any such Availability Shortfall and at the end of the month during which such
Availability Shortfall occurs.</U> </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 11. EVENTS OF DEFAULT; REMEDIES ON DEFAULT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.1. <U>Events of Default</U>.</B> Each of the following shall be an &#147;Event of Default&#148; hereunder, if the same shall occur for
any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any Borrower fails to pay any principal of
the Loans, any US LC Obligation, any Canadian LC Obligation, any interest on the Loans, any fee or any other amount payable under this Agreement or any other Loan Document, when and as the same shall become due and payable (whether at stated
maturity, on demand, upon acceleration or otherwise); or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">123 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) (i) Any information contained in any Compliance Certificate or Borrowing Base Certificate was
untrue or incorrect in any material respect when made or (ii)&nbsp;any representation or warranty made or delivered to any Agent or any Lender by any Loan Party herein, in connection with any Loan Document or transaction contemplated thereby, or in
any written statement, report, financial statement or certificate (other than a Borrowing Base Certificate or Compliance Certificate) is untrue, incorrect or misleading in any material respect when given or
confirmed<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> </U><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(except that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof)</U></B>; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i) Any Loan Party breaches or fails to perform any covenant
contained in <B>Section&nbsp;7</B>, <B>8</B>, <B>10.1 </B>(other than <B>Section&nbsp;10.1.2(a), (b), (c)&nbsp;or (g))</B> or <B>10.2</B>; or (ii)&nbsp;any Loan Party breaches or fails to perform any covenant contained <B>Section&nbsp;10.1.2(a),
(b), (c)&nbsp;or (g)</B>&nbsp;for five (5)&nbsp;days after the date otherwise set forth in such section as a deadline for compliance thereof; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Any Loan Party breaches or fails to perform any other covenant contained in any Loan Documents, and such breach or failure is not cured
within 15 days after a Senior Officer of such Loan Party receives notice thereof from any Agent; <U>provided</U>, <U>however</U>, that such notice and opportunity to cure shall not apply if the breach or failure to perform is not capable of being
cured within such period; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Any Guarantor repudiates, revokes or attempts to revoke its Guaranty; any Loan Party denies or contests
the validity or enforceability of any Loan Documents or Obligations, or the perfection or priority of any Lien granted to any Agent; or any Loan Document ceases to be in full force or effect for any reason (other than a waiver or release by the
Agents and the Lenders) or any Loan Party shall so state in writing; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Any judgment or order for the payment of money is entered
against a Loan Party or any of its Subsidiaries in an amount that exceeds, individually or cumulatively with all unsatisfied judgments or orders against all the Loan Parties and their Subsidiaries, the Dollar Equivalent of $1,000,000 (net of any
insurance coverage therefor acknowledged in writing by the insurer), and shall remain unsatisfied, undischarged, unvacated, unbonded or unstayed for a period of 30 days; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Any Loan Party or any of its Subsidiaries becomes unable or admits in writing its inability or fails generally to pay its debts as they
become due, or any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any Loan Party or any of its Subsidiaries and is not released, vacated or fully bonded within 45
days after its issue or levy; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Any loss, theft, damage or destruction occurs with respect to any Collateral if the amount not
covered by insurance exceeds the Dollar Equivalent of $1,000,000; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Any Loan Party or any of its Subsidiaries is enjoined,
restrained or in any way prevented by any Governmental Authority from conducting (i)&nbsp;any material part of its business or (ii)&nbsp;business at more than 10 retail locations, and such order shall continue in effect for more than 5 days; any
Loan Party or any of its Subsidiaries suffers the loss, revocation or termination of any material license, permit, lease or agreement necessary to its business and such loss, revocation or termination shall continue unremedied for 5 days; there is a
cessation of any material part of a Loan Party&#146;s or any of its Subsidiaries&#146; business for a material period of time; any Collateral or Property of a Loan Party or any of its Subsidiaries is taken or impaired through condemnation and such
loss, revocation or termination is reasonably likely to </P>
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result in a Material Adverse Effect; any Loan Party or any of its Subsidiaries agrees to or commences any liquidation, dissolution or winding up of its affairs; or any Loan Party or any of its
Subsidiaries ceases to be Solvent; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) Any Insolvency Proceeding is commenced by any Loan Party or any of its Subsidiaries; an
Insolvency Proceeding is commenced against any Loan Party or any of its Subsidiaries and such Loan Party or such Subsidiary consents to the institution of the proceeding against it, the petition, filing or other proceeding commencing the proceeding
is not timely controverted by such Loan Party or such Subsidiary, such petition, filing or other proceeding is not dismissed or stayed within 45 days after its filing or institution, or an order for relief is entered in the proceeding; a trustee
(including an interim trustee), receiver (including an interim receiver or receiver-manager), monitor, agent, custodian, sequestrator, administrator, liquidator or like official is appointed to take possession of any substantial Property of or to
operate any of the business of any Loan Party or any of its Subsidiaries; or any Loan Party or any of its Subsidiaries makes a proposal or offer (or files a notice of intention to make a proposal or offer) of settlement, extension, arrangements or
composition to its unsecured creditors generally; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) The Borrowers or any ERISA Affiliate incurs any liability to the PBGC or a
Guaranteed Pension Plan pursuant to Title IV of ERISA in an aggregate amount exceeding the Dollar Equivalent of $100,000, or the Borrowers or any ERISA Affiliate is assessed withdrawal liability pursuant to Title IV of ERISA by a Multiemployer Plan
requiring aggregate annual payments exceeding the Dollar Equivalent of $100,000, the receipt by the Borrowers or any ERISA Affiliate of notice from any Multiemployer Plan that it is in critical or endangered status, pursuant to Section&nbsp;432 of
the Code and Section&nbsp;305 of ERISA, or any of the following occurs with respect to a Guaranteed Pension Plan: (i)&nbsp;an ERISA Reportable Event, or a failure to satisfy the minimum funding standards under the Pension Funding Rules,
<U>provided</U> that the Administrative Agent determines in its reasonable discretion that such event (A)&nbsp;could be expected to result in a liability of the Borrowers or any of their Subsidiaries to the PBGC or such Guaranteed Pension Plan in an
aggregate amount exceeding the Dollar Equivalent of $500,000 and (B)&nbsp;could constitute grounds for the termination of such Guaranteed Pension Plan by the PBGC, for the appointment by the appropriate United States District Court of a trustee to
administer such Guaranteed Pension Plan or for the imposition of a Lien in favor of such Guaranteed Pension Plan; or (ii)&nbsp;the appointment by a United States District Court of a trustee to administer such Guaranteed Pension Plan; or
(iii)&nbsp;the institution by the PBGC of proceedings to terminate such Guaranteed Pension Plan; or (iv)&nbsp;any event or condition shall occur or exist with respect to a Canadian Plan that could, in the Administrative Agent&#146;s good faith
judgment, subject any Canadian Loan Party or any of its Subsidiaries to any tax, penalty or other liabilities under the <I>Supplemental Pension Plans Act </I>(Qu&eacute;bec) or the <I>Pension Benefits Act </I>(Ontario) or any other Applicable
Pension Legislation and which could reasonably be expected to give rise to a Material Adverse Effect, or if any Canadian Loan Party or any of its Subsidiaries is in default with respect to required payments to a Canadian Plan or any Lien arises
(save for contribution amounts not yet due) in connection with any Canadian Plan; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) Any Loan Party or any of its Subsidiaries is
criminally indicted or convicted for (i)&nbsp;a felony committed in the conduct of such Person&#146;s business, or (ii)&nbsp;any state, federal or foreign Applicable Law (including the Controlled Substances Act, Money Laundering Control Act of 1986
and Illegal Exportation of War Materials Act) that could lead to forfeiture of any assets of such Person included in the US Borrowing Capacity, the Canadian Borrowing Capacity or the Term Loan Borrowing Capacity or any assets of such Person not
included in the US Borrowing Capacity, the Canadian Borrowing Capacity or the Term Loan Borrowing Capacity but having a fair market value in excess of the Dollar Equivalent of $1,000,000; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) (i) any breach or default of a Loan Party or any of its Subsidiaries occurs under any of the Term Loan Documents (or any documents
relating to renewals, refinancings and extensions of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">125 </P>


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Debt incurred thereunder) or (ii)&nbsp;any such Debt shall become or be declared to be due and payable, or be required to be prepaid or repurchased (other than by a regularly scheduled or
required prepayment), prior to the stated maturity thereof; provided that such breach or default shall be deemed continuing hereunder until the Required Lenders have expressly waived such breach or default in writing, notwithstanding the fact that
such breach or default may have been waived under the terms of the Term Loan Documents; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) (i) the earlier of (A)&nbsp;receipt by a
Loan Party or any of its Subsidiaries of notice from any applicable party under any of the Quebec Subordinated Debt Documents, the Rolex Documents, the Montrovest Debt Documents, the Damiani Debt Documents or the Additional Subordinated Debt
Documents of the occurrence and continuance of a payment default or the occurrence of a payment default under any of such agreements which has continued for fifteen (15)&nbsp;days or (B)&nbsp;any other material breach or default of a Loan Party or
any of its Subsidiaries occurs under any of the Quebec Subordinated Debt Documents, the Rolex Documents, the Montrovest Debt Documents, the Damiani Debt Documents or the Additional Subordinated Debt Documents (or any documents relating to renewals,
refinancings and extensions of the Debt incurred thereunder) or (ii)&nbsp;any such Debt shall become or be declared to be due and payable, or be required to be prepaid or repurchased (other than by a regularly scheduled or required prepayment),
prior to the stated maturity thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) Subject to <B>Section&nbsp;11.1(n)</B>, (i)&nbsp;any breach or default of a Loan Party or
any of its Subsidiaries occurs under any document, instrument or agreement to which it is a party or by which it or any of its Properties is bound, relating to any Debt (other than the Obligations) in excess of the Dollar Equivalent of $1,000,000,
if the maturity of or any payment with respect to such Debt may be accelerated or demanded due to such breach or default or (ii)&nbsp;any such Debt shall become or be declared to be due and payable, or be required to be prepaid or repurchased (other
than by a regularly scheduled or required prepayment), prior to the stated maturity thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) There shall occur any material damage
to, or loss, theft or destruction of, any Collateral, whether or not insured, or any strike, lockout, labor dispute, embargo, condemnation, act of God or public enemy, or other casualty, which in any such case causes, for more than 5 consecutive
days, the cessation or substantial curtailment of revenue producing activities at more than 5 retail locations not covered by business interruption insurance; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) (i) Any Security Document shall for any reason fail or cease to create valid, perfected and enforceable Liens on any Collateral purported
to be covered thereby or, except as permitted by the Loan Documents, such Liens shall fail or cease to be a perfected with the priorities contemplated by the Intercreditor Agreement, the Quebec Subordination Agreements, the Rolex Subordination
Agreements, the other Subordination Agreements and the other Security Documents, or any Loan Party shall so state in writing; or (ii)&nbsp;any breach or default by any Person (other than any Agent party thereto) occurs under any Subordination
Agreement or the Intercreditor Agreement; or (iii)&nbsp;any Person (other than any Agent party thereto) shall repudiate, revoke or attempt to revoke any Subordination Agreement or the Intercreditor Agreement; or (iv)&nbsp;any of the terms of any
Subordination Agreement or the Intercreditor Agreement shall be invalidated or cease to be in full force and effect; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) A Change of
Control occurs; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s) A Montrovest LC Event occurs, unless within ten (10)&nbsp;Business Days after receipt of written notice from the
Agents, a replacement Montrovest LC is issued by an issuing bank satisfactory to the Agents and on the same terms (other than, to the extent applicable, the extension of the expiry date<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> or
changes to the notice information for the Term Loan Agent</U></B>) as the Montrovest LC issued on the Third Amendment Effective Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">126 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.2. <U>Remedies upon Default</U>.</B> If an Event of Default described in
<B>Section&nbsp;11.1(j)</B> occurs with respect to any Loan Party, then to the extent permitted by Applicable Law, all Obligations shall become automatically due and payable and all Commitments shall terminate, without any action by any Agent or
notice of any kind. In addition, or if any other Event of Default exists, each Agent may in its discretion (and shall upon written direction of the Required Lenders) do any one or more of the following from time to time: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) declare any Obligations immediately due and payable, whereupon they shall be due and payable without diligence, presentment, demand,
protest or notice of any kind, all of which are hereby waived by the Loan Parties to the fullest extent permitted by law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) terminate,
reduce or condition any of the Commitments, or make any adjustment to the US Borrowing Capacity, the Canadian Borrowing Capacity, the Term Loan Borrowing Capacity or any component definition contained in any of the foregoing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) require the Loan Parties to Cash Collateralize US LC Obligations, the Canadian LC Obligations, Bank Product Debt and other Obligations
that are contingent or not yet due and payable, and, if the Loan Parties fail promptly to deposit such Cash Collateral, the Applicable Agent may (and shall upon the direction of the Required Lenders) advance the required Cash Collateral as US
Revolver Loans or, as applicable, Canadian Revolver Loans (whether or not a US Revolver Overadvance or Canadian Revolver Overadvance exists or is created thereby, or the conditions in <B>Section&nbsp;6</B> are satisfied); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) with respect to any Collateral consisting of Inventory, conduct one or more going out of business sales, in the Administrative
Agent&#146;s own right or by one or more agents, representatives, receivers and contractors. Such sale(s) may be conducted upon any premises owned, leased, or occupied by any Loan Party, and in conjunction with any such sale, (i)&nbsp;the
Administrative Agent and any such agent, representative, receiver or contractor may augment the Inventory with other goods (all of which other goods shall remain the sole property of the Administrative Agent or such agent or contractor),
(ii)&nbsp;any amounts realized from the sale of such goods which constitute augmentations to the Inventory (net of an allocable share of the costs and expenses incurred in their disposition) shall be the sole property of the Administrative Agent or
such agent or contractor and no Loan Party nor any Person claiming under or in right of such Loan Party shall have any interest therein, (iii)&nbsp;each purchaser at any such sale shall hold the property sold absolutely, free from any claim or right
on the part of any Loan Party, and, to the extent permitted by Applicable Law, each Loan Party hereby waives all rights of redemption, stay, valuation and appraisal which such Loan Party now has or may at any time in the future have under any rule
of law or statute now existing or hereafter enacted; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) exercise any other rights or remedies afforded under any agreement
(including, without limitation, this Agreement and the other Loan Documents), by law, at equity or otherwise, including the rights and remedies of a secured party under the UCC, the PPSA, the Civil Code of Qu&eacute;bec or Applicable Law. Such
rights and remedies include the rights to (i)&nbsp;take possession of any Collateral; (ii)&nbsp;require the Loan Parties to assemble Collateral, at the Borrowers&#146; expense, and make it available to the Applicable Agent at a place designated by
such Agent; (iii)&nbsp;enter any premises where Collateral is located and store Collateral on such premises until sold (and if the premises are owned or leased by a Loan Party, the Loan Parties agree not to charge for such storage); and
(iv)&nbsp;sell or otherwise dispose of any Collateral in its then condition, or after any further manufacturing or processing thereof, at public or private sale, with such notice as may be required by Applicable Law, in lots or in bulk, at such
locations, all as the Applicable Agent, in its discretion, deems advisable. Each Loan Party agrees that 5 days notice of any proposed sale or other disposition of Collateral by the Applicable Agent shall be reasonable. The Applicable Agent shall
have the right to conduct such sales on any Loan Party&#146;s premises, without charge, and such sales may be adjourned from time to time in accordance with Applicable Law. The Applicable Agent shall have the right
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">127 </P>


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to sell, lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and the Applicable Agent may purchase any Collateral at public or, if permitted by law, private
sale and, in lieu of actual payment of the purchase price, may set off the amount of such price against the Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">; <U>provided</U> <U>however</U>
that the Required Lenders shall not direct either Agent to take any action contrary to Section&nbsp;4.9 of the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.3. <U>License</U>.</B> Each Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license
(without payment of royalty or other compensation to any Person) any or all Intellectual Property of the Loan Parties, computer hardware and software, trade secrets, brochures, customer lists, promotional and advertising materials, labels, packaging
materials and other Property, in advertising for sale, marketing, selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral in each case after the occurrence, and during the
continuance, of an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.4. <U>Setoff</U>.</B> The Agents, the Lenders and their Affiliates and branches are each
authorized by the Loan Parties at any time that an Event of Default has occurred and is continuing, without notice to the Loan Parties or any other Person, to set off and to appropriate and apply any deposits (general or special), funds, claims,
obligations, liabilities or other Debt at any time held or owing by any Agent, any Lender or any such Affiliate or branch to or for the account of any Loan Party against any Obligations, whether or not demand for payment of such Obligation has been
made, any Obligations have been declared due and payable, are then due, or are contingent or unmatured, or the Collateral or any guaranty or other security for the Obligations is adequate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.5. <U>Remedies Cumulative; No Waiver</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>11.5.1. <U>Cumulative Rights</U></B>. All covenants, conditions, provisions, warranties, guaranties, indemnities and other undertakings of
the Loan Parties contained in the Loan Documents are cumulative and not in derogation or substitution of each other. In particular, the rights and remedies of the Agents and the Lenders are cumulative, may be exercised at any time and from time to
time, concurrently or in any order, and shall not be exclusive of any other rights or remedies that the Agents and the Lenders may have, whether under any agreement, by law, at equity or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>11.5.2. <U>Waivers</U></B>. The failure or delay of any party hereto to require strict performance by any other party thereto with any
terms of the Loan Documents, or to exercise any rights or remedies with respect to Collateral or otherwise, shall not operate as a waiver thereof nor as establishment of a course of dealing. All rights and remedies shall continue in full force and
effect until the Full Payment of the Obligations. No modification of any terms of any Loan Documents (including any waiver thereof) shall be effective, unless such modification is specifically provided in a writing directed to the Borrowers and
executed by the Borrowers and the Applicable Agent(s) or the requisite Lenders, and such modification shall be applicable only to the matter specified. No waiver of any Default or Event of Default shall constitute a waiver of any other Default or
Event of Default that may exist at such time, unless expressly stated. If any Agent or any Lender accepts performance by any Loan Party under any Loan Documents in a manner other than that specified therein, or during any Default or Event of
Default, or if any Agent or any Lender shall delay or exercise any right or remedy under any Loan Documents, such acceptance, delay or exercise shall not operate to waive any Default or Event of Default nor to preclude exercise of any other right or
remedy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.6. <U>Judgment Currency</U>.</B> If, for the purpose of obtaining judgment in any court or obtaining an order enforcing a
judgment, it becomes necessary to convert any amount due under this Agreement in Dollars or in any other currency (hereinafter in this <B>Section&nbsp;11.6</B> called the &#147;<U>first</U> <U>currency</U>&#148;) into any other
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">128 </P>


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currency (hereinafter in this <B>Section&nbsp;11.6</B> called the &#147;<U>second</U> <U>currency</U>&#148;), then the conversion shall be made at the Applicable Agent&#146;s spot rate of
exchange for buying the first currency with the second currency prevailing at the Applicable Agent&#146;s close of business on the Business Day next preceding the day on which the judgment is given or (as the case may be) the order is made. Any
payment made to any Agent or any Lender pursuant to this Agreement in the second currency shall constitute a discharge of the obligations of the Borrowers to pay to the Agents and the Lenders any amount originally due to the Agents and the Lenders
in the first currency under this Agreement only to the extent of the amount of the first currency which each Agent and each of the Lenders is able, on the date of the receipt by it of such payment in any second currency, to purchase, in accordance
with such Agent&#146;s and such Lender&#146;s normal banking procedures, with the amount of such second currency so received. If the amount of the first currency falls short of the amount originally due to the Agents and the Lenders in the first
currency under this Agreement, each of the Borrowers, with respect to itself and its Subsidiaries, agrees that it will indemnify each Agent and each of the Lenders against and save each Agent and each of the Lenders harmless from any shortfall so
arising. This indemnity shall constitute an obligation of each such Borrower separate and independent from the other obligations contained in this Agreement, shall give rise to a separate and independent cause of action and shall continue in full
force and effect notwithstanding any judgment or order for a liquidated sum or sums in respect of amounts due to any Agent or any Lender under this Agreement or under any such judgment or order. Any such shortfall shall be deemed to constitute a
loss suffered by each Agent and each such Lender, as the case may be, and the Borrowers shall not be entitled to require any proof or evidence of any actual loss. The covenant contained in this <B>Section&nbsp;11.6 </B>shall survive the Full Payment
of the Obligations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 12. THE ADMINISTRATIVE AGENT, THE CANADIAN AGENT AND THE CO-COLLATERAL AGENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.1. <U>Appointment, Authority and Duties of the Administrative Agent, the Canadian Agent and the Co-Collateral Agents</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.1.1. <U>Appointment and Authority of the Administrative Agent, the Canadian Agent and the Co-Collateral Agents</U></B>. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Lender appoints and designates Bank of America as the Administrative Agent hereunder. The Administrative Agent may, and each Lender
authorizes the Administrative Agent to, enter into all Loan Documents (including, without limitation, the Intercreditor Agreement) to which the Administrative Agent is intended to be a party and accept all Security Documents, for the Administrative
Agent&#146;s benefit and the benefit of the Secured Parties. Each Lender agrees that any action taken by the Administrative Agent or the Required Lenders, in accordance with the provisions of the Loan Documents, and the exercise by the
Administrative Agent or the Required Lenders of any rights or remedies set forth therein, together with all other powers reasonably incidental thereto, shall be authorized and binding upon all Lenders. Without limiting the generality of the
foregoing, the Administrative Agent shall have the sole and exclusive authority (subject to the authority of the Canadian Agent set forth in clause (b)&nbsp;below) to (a)&nbsp;act as the disbursing and collecting agent for the Lenders with respect
to all payments and collections arising in connection with the Loan Documents; (b)&nbsp;execute and deliver as the Administrative Agent each Loan Document to which it is intended to be a party, including any intercreditor or subordination agreement,
and accept delivery of each Loan Document from any Loan Party or other Person; (c)&nbsp;act as collateral agent for the Secured Parties for purposes of perfecting and administering Liens under the Loan Documents and all other matters concerning
Collateral of the US Loan Parties and the Non-Canadian Loan Parties and Collateral of the Canadian Loan Parties situated in the United States, and for all other purposes stated therein; and (d)&nbsp;exercise all rights and remedies given to the
Administrative Agent with respect to any Collateral under the Loan Documents, the Montrovest LC, Applicable Law or otherwise. The duties of the Administrative Agent shall be ministerial and administrative in nature, and the Administrative Agent
shall </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">129 </P>


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not have a fiduciary relationship with any Lender, Secured Party, Participant or other Person, by reason of any Loan Document or any transaction relating thereto. The Administrative Agent alone
shall be authorized to determine whether any Account or Inventory constitutes Eligible Inventory, Eligible Major Credit Card Receivables or Eligible Private Label and Corporate Accounts, as the case may be, or whether to impose or release any
reserve, which determinations and judgments, if exercised in good faith, shall exonerate the Administrative Agent from liability to any Lender or other Person for any error in judgment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each Lender appoints and designates Bank of America-Canada Branch as the Canadian Agent hereunder. The Canadian Agent may, and each Lender
authorizes the Canadian Agent to, enter into all Loan Documents (including, without limitation, the Intercreditor Agreement) to which the Canadian Agent is intended to be a party and accept all Security Documents, for the Canadian Agent&#146;s
benefit and the benefit of the Secured Parties. Each Lender agrees that any action taken by the Canadian Agent or the Required Lenders, in accordance with the provisions of the Loan Documents, and the exercise by the Canadian Agent or the Required
Lenders of any rights or remedies set forth therein, together with all other powers reasonably incidental thereto, shall be authorized and binding upon all Lenders. Without limiting the generality of the foregoing, the Canadian Agent shall have the
sole and exclusive authority (subject to the authority of the Administrative Agent set forth in clause (a)&nbsp;above) to (a)&nbsp;act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in
connection with the Loan Documents concerning the Canadian Loan Parties; (b)&nbsp;execute and deliver as the Canadian Agent each Loan Document to which it is intended to be a party, including any intercreditor or subordination agreement, and accept
delivery of each Loan Document from any Loan Party or other Person; (c)&nbsp;act as collateral agent for the Secured Parties for purposes of perfecting and administering Liens under the Loan Documents and all other matters concerning Collateral of
the Canadian Loan Parties and Collateral of the other Loan Parties situated in Canada, and for all other purposes stated therein; and (d)&nbsp;exercise all rights and remedies given to the Canadian Agent with respect to any Collateral under the Loan
Documents, the Montrovest LC, Applicable Law or otherwise. The duties of the Canadian Agent shall be ministerial and administrative in nature, and the Canadian Agent shall not have a fiduciary relationship with any Lender, Secured Party, Participant
or other Person, by reason of any Loan Document or any transaction relating thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) For the purposes of creating a
<I>solidarit&eacute; active</I> in accordance with Article 1541 of the Civil Code of Qu&eacute;bec between each Secured Party, taken individually, on the one hand, and the Canadian Agent, on the other hand, each Loan Party and each such Secured
Party acknowledges and agrees with the Canadian Agent that such Secured Party and the Canadian Agent are hereby conferred the legal status of solidary creditors of each such Loan Party in respect of all Obligations owed by each such Loan Party to
the Canadian Agent and such Secured Party hereunder and under the other Loan Documents (collectively, the &#147;<U>Solidary</U> <U>Claim</U>&#148;) and that, accordingly, but subject (for the avoidance of doubt) to Article 1542 of the Civil Code of
Qu&eacute;bec, each such Loan Party is irrevocably bound towards the Canadian Agent and each Secured Party in respect of the entire Solidary Claim of the Canadian Agent and such Secured Party. As a result of the foregoing, the parties hereto
acknowledge that the Canadian Agent and each Secured Party shall at all times have a valid and effective right of action for the entire Solidary Claim of the Canadian Agent and such Secured Party and the right to give full acquittance for it.
Accordingly, and without limiting the generality of the foregoing, the Canadian Agent, as solidary creditor with each Secured Party, shall at all times have a valid and effective right of action in respect of the Solidary Claim and the right to give
a full acquittance for same. By its execution of the Loan Documents to which it is a party, each such Loan Party not a party hereto shall also be deemed to have accepted the stipulations hereinabove provided. The parties further agree and
acknowledge that such Liens (hypothecs) under the Security Documents and the other Loan Documents shall be granted to the Canadian Agent, for its own benefit and for the benefit of the Secured Parties, as solidary creditor as hereinabove set forth.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Each Lender appoints and designates each of Bank of America, N.A. and Wells Fargo Bank,
National Association as a Co-Collateral Agent hereunder. The rights of the Co-Collateral Agents are set forth in the Co-Collateral Agent Rights Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The relationship between each Agent and each of the Secured Parties is that of an independent contractor. The use of the terms
&#147;<U>Administrative</U> <U>Agent</U>&#148; or &#147;<U>Canadian</U> <U>Agent</U>&#148; is for convenience only and is used to describe, as a form of convention, the independent contractual relationship between the Administrative Agent or the
Canadian Agent, as applicable and each of the Secured Parties. Nothing contained in this Agreement or the other Loan Documents shall be construed to create an agency, trust or other fiduciary relationship between the Administrative Agent or the
Canadian Agent, as applicable, and any of the Secured Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) As an independent contractor empowered by the Secured Parties to
exercise certain rights and perform certain duties and responsibilities hereunder and under the other Loan Documents, the Applicable Agent is nevertheless a &#147;<U>representative</U>&#148; of the Secured Parties, as that term is defined in Article
1 of the Uniform Commercial Code, for purposes of actions for the benefit of the Lenders and the Agents with respect to all collateral security and guaranties contemplated by the Loan Documents. Such actions include the designation of the Applicable
Agent as &#147;<U>secured</U> <U>party</U>&#148;, &#147;<U>mortgagee</U>&#148; or the like on all financing statements and other documents and instruments, whether recorded, filed, registered or otherwise, relating to the attachment, perfection,
enforceability, priority or enforcement of any security interests, mortgages, hypothecs or deeds of trust in collateral security intended to secure the payment or performance of any of the Obligations, all for the benefit of the Secured Parties and
the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.1.2. <U>Duties</U></B>. No Agent shall have any duties except those expressly set forth in the Loan Documents, nor be
required to initiate or conduct any Enforcement Action except to the extent directed to do so by the Required Lenders while an Event of Default exists. The conferral upon any Agent of any right shall not imply a duty on such Agent&#146;s part to
exercise such right, unless instructed to do so by the Required Lenders in accordance with this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.1.3. <U>Agent
Professionals</U></B>. Each Agent may perform its duties through agents and employees. Each Agent may consult with and employ Agent Professionals, and shall be entitled to act upon, and shall be fully protected in any action taken in good faith
reliance upon, any advice given by an Agent Professional. No Agent shall be responsible for the negligence or misconduct of any agents, employees or Agent Professionals selected by it with reasonable care. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.1.4. <U>Instructions of the Required Lenders</U></B>. The rights and remedies conferred upon each Agent under the Loan Documents may be
exercised without the necessity of joinder of any other party, unless required by Applicable Law. Any Agent may request instructions from the Required Lenders with respect to any act (including the failure to act) in connection with any Loan
Documents, and may seek assurances to its satisfaction from the Lenders of their indemnification obligations under <B>Section&nbsp;12.6</B> against all Claims that could be incurred by such Agent in connection with any act. Each Agent shall be
entitled to refrain from any act until it has received such instructions or assurances, and such Agent shall not incur liability to any Person by reason of so refraining. Instructions of the Required Lenders shall be binding upon all Lenders, and no
Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or refraining from acting in accordance with the instructions of the Required Lenders. Notwithstanding the foregoing, instructions by and consent of
all Lenders shall be required in the circumstances described in <B>Section&nbsp;14.1.1</B>, and in no event shall, and in no event shall the Required Lenders, without the prior written consent of each Lender, direct any Agent to accelerate and
demand payment of Loans held by one Lender without accelerating and demanding payment of all other Loans, nor to terminate any Commitments of one Lender without terminating such Commitment of all Lenders. In no event shall the Agent be required to
take any action that, in its opinion, is contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">131 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.2. <U>Agreements Regarding Collateral and Field Examination Reports</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.2.1. <U>Lien Releases; Care of Collateral</U></B>. The Lenders authorize each Agent to release any Lien with respect to any Collateral
(a)&nbsp;upon Full Payment of the Obligations, (b)&nbsp;that is the subject of a disposition which the Borrower Agent certifies in writing to the Administrative Agent is permitted under this Agreement (including under <B>Section&nbsp;10.2.13</B>) or
a Lien which the Borrowers certify is a Permitted Lien entitled to priority over the Applicable Agent&#146;s Liens (and the Applicable Agent may rely conclusively on any such certificate without further inquiry), (c)&nbsp;that is non-material and
not of the type included in the US Borrowing Capacity or the Canadian Borrowing Capacity, or (d)&nbsp;with the written consent of all Lenders. No Agent shall have any obligation whatsoever to any Lenders to assure that any Collateral exists or is
owned by a Loan Party, or is cared for, protected, insured or encumbered, nor to assure that the Applicable Agent&#146;s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of
care with respect to any Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.2.2. <U>Possession of Collateral</U></B>. The Agents and the Lenders appoint each other Agent
and each other Lender as agent for the purpose of perfecting Liens (for the benefit of the Secured Parties) in any Collateral that, under the UCC, PPSA or other Applicable Law, can be perfected by possession. If any Lender obtains possession of any
such Collateral, it shall notify the Administrative Agent thereof and, promptly upon the Administrative Agent&#146;s request, deliver such Collateral to the Applicable Agent or otherwise deal with such Collateral in accordance with the Applicable
Agent&#146;s instructions or as required by the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.2.3. <U>Reports</U></B>. The Administrative Agent shall
promptly, upon receipt thereof, forward to each Lender copies of the results of any field audit or other examination or any appraisal prepared by or on behalf of any Agent with respect to any Loan Party or Collateral (&#147;<U>Report</U>&#148;).
Each Lender agrees (a)&nbsp;that neither Bank of America nor any Agent makes any representation or warranty as to the accuracy or completeness of any Report, and shall not be liable for any information contained in or omitted from any Report;
(b)&nbsp;that the Reports are not intended to be comprehensive audits or examinations, and that any Agent or any other Person performing any audit or examination will inspect only specific information regarding Obligations or the Collateral and will
rely significantly upon the Loan Parties&#146; books and records as well as upon representations of the Loan Parties&#146; officers and employees; and (c)&nbsp;to keep all Reports confidential and strictly for such Lender&#146;s internal use, and
not to distribute any Report (or the contents thereof) to any Person (except to such Lender&#146;s Participants, attorneys and accountants) or use any Report in any manner other than administration of the Loans and other Obligations. Each Lender
agrees to indemnify and hold harmless each Agent and any other Person preparing a Report from any action such Lender may take as a result of or any conclusion it may draw from any Report, as well as any Claims arising in connection with any third
parties that obtain all or any part of a Report through such Lender, provided that no Lender shall have any obligation to indemnify and hold harmless such other Person preparing a Report for any claims arising that are determined in a final,
non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct of such other Person preparing such Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.3. <U>Reliance by the Agents</U>.</B> Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any
certification, notice or other communication (including those by telephone, telex, telegram, telecopy, electronic transmission or e-mail) believed by it to be genuine and correct and to have been signed, sent or made by the proper Person, and upon
the advice and statements of the Agent Professionals. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.4. <U>Action Upon Default</U>.</B> No Agent shall be deemed to have knowledge of any
Default or Event of Default unless it has received written notice from a Lender or the Borrower specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default or Event of Default, it shall promptly notify the Agents and
the other Lenders thereof in writing. Each Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Applicable Agent and the Required Lenders, it will not take any Enforcement Action, accelerate its
Obligations, or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral. Notwithstanding the foregoing, however, a Lender may take action to
preserve or enforce its rights against a Loan Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency
Proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.5. <U>Ratable Sharing</U>.</B> If any Lender shall obtain any payment or reduction of any Obligation, whether through
set-off or otherwise, in excess of its share of such Obligation, determined on a Pro Rata basis or in accordance with <B>Section&nbsp;5.5</B>, as applicable, such Lender shall forthwith purchase from the Applicable Agent, the Issuing Banks and the
other applicable Lenders such participations in the affected Obligation as are necessary to cause the purchasing Lender to share the excess payment or reduction on a Pro Rata basis or in accordance with <B>Section&nbsp;5.5</B>, as applicable. If any
of such payment or reduction is thereafter recovered from the purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.6. <U>Indemnification of the Agent Indemnitees</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.6.1. <U>INDEMNIFICATION</U></B>. EACH LENDER SHALL INDEMNIFY AND HOLD HARMLESS AGENT INDEMNITEES, TO THE EXTENT NOT REIMBURSED BY THE
LOAN PARTIES (BUT WITHOUT LIMITING THE INDEMNIFICATION OBLIGATIONS OF LOAN PARTIES UNDER ANY LOAN DOCUMENTS), ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY AGENT INDEMNITEE; PROVIDED THAT NO LENDER SHALL
HAVE ANY OBLIGATION TO INDEMNIFY OR HOLD HARMLESS THE AGENT INDEMNITEES FOR ANY CLAIM THAT IS DETERMINED IN A FINAL, NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO RESULT FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY AGENT
INDEMNITEE. If any Agent is sued by any receiver, trustee in bankruptcy, debtor-in-possession or other Person for any alleged preference from a Loan Party or fraudulent transfer, then any monies paid by such Agent in settlement or satisfaction of
such proceeding, together with all interest, costs and expenses (including attorneys&#146; fees) incurred in the defense of same, shall be promptly reimbursed to such Agent by the Lenders to the extent of each Lender&#146;s Pro Rata share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.6.2. <U>Proceedings</U></B>. Without limiting the generality of the foregoing, if at any time (whether prior to or after the Commitment
Termination Date) any proceeding is brought against any Agent Indemnitees by a Loan Party, or any Person claiming through a Loan Party, to recover damages for any act taken or omitted by any Agent in connection with any Obligations, Collateral, Loan
Documents or matters relating thereto, or otherwise to obtain any other relief of any kind on account of any transaction relating to any Loan Documents, each Lender agrees to indemnify and hold harmless the Agent Indemnitees with respect thereto and
to pay to the Agent Indemnitees such Lender&#146;s Pro Rata share of any amount that any Agent Indemnitee is required to pay under any judgment or other order entered in such proceeding or by reason of any settlement, including all interest, costs
and expenses (including attorneys&#146; fees) incurred in defending same; <U>provided</U> <U>that</U> no Lender shall be liable for payment of any such amount to the extent that it is determined in a final, non-appealable judgment by a court of
competent jurisdiction that such judgment, order or settlement resulted from any Agent Indemnitees&#146; gross negligence or willful misconduct. In the Applicable Agent&#146;s discretion, such Agent may reserve for any such proceeding, and may
satisfy any </P>
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judgment, order or settlement, from proceeds of Collateral prior to making any distributions of Collateral proceeds to the Lenders; <U>provided</U> <U>that</U> it has not been determined in a
final, non-appealable judgment by a court of competent jurisdiction that such judgment, order or settlement resulted from any Agent Indemnitees&#146; gross negligence or willful misconduct. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.7. <U>Limitation on Responsibilities of the Administrative Agent and the Canadian Agent</U>.</B> No Agent shall be liable to the Lenders
for any action taken or omitted to be taken under the Loan Documents, except for losses directly and solely caused by such Agent&#146;s gross negligence or willful misconduct. No Agent assumes any responsibility for any failure or delay in
performance or any breach by any Loan Party or Lender of any obligations under the Loan Documents. No Agent makes to the Lenders any express or implied warranty, representation or guarantee with respect to any Obligations, Collateral, Loan Documents
or Loan Party. No Agent Indemnitee shall be responsible to the Lenders for any recitals, statements, information, representations or warranties contained in any Loan Documents; the execution, validity, genuineness, effectiveness or enforceability of
any Loan Documents; the genuineness, enforceability, collectibility, value, sufficiency, location or existence of any Collateral, or the validity, extent, perfection or priority of any Lien therein; the validity, enforceability or collectibility of
any Obligations; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any Loan Party or Account Debtor. No Agent Indemnitee shall have any obligation to any Lender to ascertain or
inquire into the existence of any Default or Event of Default, the observance or performance by any Loan Party of any terms of the Loan Documents, or the satisfaction of any conditions precedent contained in any Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.8. <U>Successor Agents</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.8.1. <U>Resignation; Successor Agent</U></B>. Subject to the appointment and acceptance of a successor Administrative Agent or Canadian
Agent as provided below, any Agent may resign at any time by giving at least 30 days written notice thereof to the Lenders and the Borrowers. Upon receipt of such notice from the Administrative Agent or the Canadian Agent, the Required Lenders shall
have the right to appoint a successor Administrative Agent or Canadian Agent, as applicable, which shall be (a)&nbsp;a Lender or an Affiliate of a Lender; or (b)&nbsp;a commercial bank with an office in the United States or Canada, as applicable,
that, unless a Default or Event of Default exists, is reasonably acceptable to the Borrower Agent. If no successor Administrative Agent or Canadian Agent is appointed prior to the effective date of the resignation of the Administrative Agent or
Canadian Agent, then the Administrative Agent or the Canadian Agent, as the case may be, may appoint a successor agent from among the Lenders. Upon acceptance by a successor Administrative Agent or Canadian Agent, as the case may be, of an
appointment to serve as such Agent hereunder, such successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Administrative Agent or Canadian Agent, as applicable, without further act, and the
retiring Administrative Agent or Canadian Agent, as applicable, shall be discharged from its duties and obligations hereunder but shall continue to have the benefits of the indemnification set forth in <B>Sections 12.6</B> and <B>14.2</B>.
Notwithstanding any Agent&#146;s resignation, the provisions of this <B>Section&nbsp;12</B> shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it in such capacity. Any successor by merger or
acquisition of the stock or assets of Bank of America or Bank of America-Canada Branch shall continue to be the Administrative Agent and the Canadian Agent hereunder (respectively) without further act on the part of the parties hereto, unless such
successor resigns as provided above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.8.2. <U>Separate Agent</U></B>. It is the intent of the parties that there shall be no
violation of any Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction. If any Agent believes that it may be limited in the exercise of any rights or remedies under the Loan Documents due
to any Applicable Law, such Agent may appoint an additional Person who is not so limited, as a separate collateral agent or co-collateral agent. If any Agent so appoints a collateral agent or co-collateral agent, each right and remedy intended to be
available to such Agent under the Loan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">134 </P>


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Documents shall also be vested in such separate agent. Every covenant and obligation necessary to the exercise thereof by such agent shall run to and be enforceable by it as well as such Agent.
The Lenders shall execute and deliver such documents as each Agent deems appropriate to vest any rights or remedies in such agent. If any collateral agent or co-collateral agent shall die or dissolve, become incapable of acting, resign or be
removed, then all the rights and remedies of such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by the Applicable Agent until appointment of a new agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.9. <U>Due Diligence and Non-Reliance</U>.</B> Each Lender acknowledges and agrees that it has, independently and without reliance upon
any Agent or any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit analysis of each Loan Party and its own decision to enter into this Agreement and to fund Loans and participate
in US LC Obligations and/or Canadian LC Obligations hereunder. Each Lender has made such inquiries concerning the Loan Documents, the Collateral and each Loan Party as such Lender feels necessary. Each Lender further acknowledges and agrees that the
other Lenders and the Agents have made no representations or warranties concerning any Loan Party, any Collateral or the legality, validity, sufficiency or enforceability of any Loan Documents or Obligations. Each Lender will, independently and
without reliance upon the other Lenders or the Agents, and based upon such financial statements, documents and information as it deems appropriate at the time, continue to make and rely upon its own credit decisions in making Loans and participating
in US LC Obligations and/or Canadian LC Obligations, and in taking or refraining from any action under any Loan Documents. Except for notices, reports and other information expressly requested by a Lender, no Agent shall have any duty or
responsibility to provide any Lender with any notices, reports or certificates furnished to any Agent by any Loan Party or any credit or other information concerning the affairs, financial condition, business or Properties of any Loan Party (or any
of its Affiliates) which may come into possession of the Applicable Agent or any of such Agent&#146;s Affiliates or branches. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.10.
<U>Replacement of Certain Lenders</U>.</B> In the event that any Lender (a)&nbsp;is a Defaulting Lender or (b)&nbsp;fails to give its consent to any amendment, waiver or action for which consent of all Lenders was required and the Required Lenders
consented, then, in addition to any other rights and remedies that any Person may have, the Administrative Agent may, by notice to such Lender within 120 days after such event, require such Lender to assign all of its rights and obligations under
the Loan Documents to Eligible Assignee(s) specified by the Administrative Agent, pursuant to appropriate Assignment and Assumption Agreement(s) and within 20 days after the Administrative Agent&#146;s notice. The Administrative Agent is irrevocably
appointed as attorney-in-fact to execute any such Assignment and Assumption Agreement if the Lender fails to execute same. Such Lender shall be entitled to receive, in cash, concurrently with such assignment, all amounts owed to it under the Loan
Documents, including all principal, interest and fees through the date of assignment (but excluding any prepayment charge). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.11.
<U>Remittance of Payments and Collections</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.11.1. <U>Remittances Generally</U></B>. All payments by any Lender to the
Applicable Agent shall be made by the time and on the day set forth in this Agreement, in immediately available funds. If no time for payment is specified or if payment is due on demand by the Applicable Agent and request for payment is made by the
Applicable Agent by 11:00 a.m. on a Business Day, payment shall be made by the Lender not later than 2:00 p.m. on such day, and if request is made after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by the
Applicable Agent to any Lender shall be made by wire transfer, in the type of funds received by the Applicable Agent. Any such payment shall be subject to the Applicable Agent&#146;s right of offset for any amounts due from such Lender under the
Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.11.2. <U>Failure to Pay</U></B>. If any Lender fails to pay any amount when due by it to the Applicable Agent
pursuant to the terms hereof, such amount shall bear interest from the due date until paid </P>
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at the rate determined by the Applicable Agent as customary in the banking industry for interbank compensation. In no event shall the Borrowers be entitled to receive credit for any interest paid
by a Lender to the Applicable Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>12.11.3. <U>Recovery of Payments</U></B>. If the Applicable Agent pays any amount to a Lender in
the expectation that a related payment will be received by the Applicable Agent from a Loan Party and such related payment is not received, then the Applicable Agent may recover such amount from each Lender that received it. If the Applicable Agent
determines at any time that an amount received under any Loan Document must be returned to a Loan Party or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, the Applicable
Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by the Applicable Agent to any Obligations are later required to be returned by the Applicable Agent pursuant to the Applicable Law, the Lenders
shall pay to the Applicable Agent, on demand, such Lender&#146;s Pro Rata share of the amounts required to be returned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.12. <U>The
Agents in their Individual Capacity</U>.</B> As a Lender, each of Bank of America and Bank of America-Canada Branch shall have the same rights and remedies under the other Loan Documents as any other Lender, and the terms &#147;Lenders,&#148;
&#147;Required Lenders,&#148; &#147;Required US Lenders,&#148; and &#147;Required Canadian Lenders,&#148; or any similar term shall include each of Bank of America and Bank of America-Canada Branch, respectively, in its capacity as a Lender. Each of
Bank of America, Bank of America-Canada Branch and their respective Affiliates and branches may accept deposits from, maintain deposits or credit balances for, invest in, lend money to, provide Bank Products to, act as trustee under indentures of,
serve as financial or other advisor to, and generally engage in any kind of business with, the Loan Parties and their Affiliates, as if Bank of America and Bank of America-Canada Branch were any other bank, without any duty to account therefor
(including any fees or other consideration received in connection therewith) to the other Lenders. In its individual capacity, each of Bank of America, Bank of America-Canada Branch and its Affiliates and branches may receive information regarding
the Loan Parties, their Affiliates and their Account Debtors (including information subject to confidentiality obligations), and each Lender agrees that each of Bank of America, Bank of America-Canada Branch and its Affiliates and branches shall be
under no obligation to provide such information to the Lenders, if acquired in such individual capacity and not as an Agent hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.13. <U>Agent Titles</U></B>. Each Lender (if any), other than Bank of America and Bank of America-Canada Branch, that is designated (on
the cover page of this Agreement or otherwise) by Bank of America as an &#147;Agent&#148; or &#147;Arranger&#148; of any type shall not have any right, power, responsibility or duty under any Loan Documents other than those applicable to all Lenders
(or, with respect to the Co-Collateral Agents, the rights set forth in the Co-Collateral Agent Rights Agreement), and shall in no event be deemed to have any fiduciary relationship with any other Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.14. <U>No Third Party Beneficiaries</U>.</B> This <B>Section&nbsp;12</B> is an agreement solely among Lenders and the Agents, and does
not confer any rights or benefits upon the Loan Parties or any other Person. As between the Loan Parties and the Agents, any action that any Agent may take under any Loan Documents shall be conclusively presumed to have been authorized and directed
by the Lenders as herein provided. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.15. <U>Loan Documents; Intercreditor Agreement</U>.</B> Each Lender that has signed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. Without limiting the generality of the foregoing, the Lenders hereby irrevocably authorize the Agents (or any of them) to enter
into the Intercreditor Agreement and agree to be bound by the provisions thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">136 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 13. BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.1. <U>Successors and Assigns Generally</U></B>. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (a)&nbsp;to an Eligible Assignee in accordance with the provisions of <B>Section&nbsp;13.2</B>, (b)&nbsp;by way of participation in accordance
with the provisions of <B>Sections 13.5 and 13.6</B>, or (iii)&nbsp;by way of pledge or assignment of a security interest subject to the restrictions of <B>Section&nbsp;13.7</B> (and any other attempted assignment or transfer by any party hereto
shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in
<B>Sections 13.5</B> and <B>13.6</B> and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Canadian Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim
under or by reason of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.2. <U>Assignments by Lenders</U></B>. Subject to <B>Section&nbsp;13.3</B>, any Lender may at
any time assign to one or more Eligible Assignees 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 <B>Section&nbsp;13.2</B> participations
in US LC Obligations, Canadian LC Obligations and in Swingline Loans) at the time owing to it); <U>provided</U> that </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
except in the case of an assignment of the entire remaining amount of the assigning Lender&#146;s Commitments and Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with respect
to a Lender, the aggregate amount of the Commitments (which for this purpose includes Loans outstanding thereunder) or, if the Commitments are not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each
such assignment, determined as of the date set forth in the Assignment and Assumption Agreement with respect to such assignment is delivered to the Agents or, if &#147;Trade Date&#148; is specified in the Assignment and Assumption Agreement, as of
the Trade Date, shall not be less than the Dollar Equivalent of $10,000,000 unless each of the Agents and, so long as no Event of Default has occurred and is continuing, the Borrower Agent otherwise consents (each such consent not to be unreasonably
withheld or delayed); <U>provided</U>, <U>however</U>, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of
its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender&#146;s rights
and obligations under this Agreement with respect to the Loans or the Commitments assigned (it being understood that non-pro rata assignments of or among any of the Commitments, the Loans, the US LC Obligations or the Canadian LC Obligations are not
permitted), except that this <U>clause (b)</U>&nbsp;shall not apply to rights in respect of Swingline Loans; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any
assignment of a Commitment must be approved by the Agents and the Swingline Lender unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the parties to each assignment shall execute and deliver to the Agents an Assignment and Assumption Agreement, together
with a processing and recordation fee in the amount of $3,500, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Applicable Agent an administrative questionnaire in the Applicable Agent&#146;s customary form. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">137 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From and after the effective date specified in each Assignment and Assumption Agreement, the Eligible Assignee
thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption Agreement, have the rights and obligations of a US Lender and Canadian Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Assumption Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption Agreement covering all of the assigning
Lender&#146;s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of <B>Sections 3.4, 3.6, 3.7, 3.9, 5.8, 5.9</B> and <B>14.2</B> with respect to facts and
circumstances occurring prior to the effective date of such assignment. Upon request, the applicable Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <B>Sections 13.5 </B>and <B>13.6</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.3. <U>Proportionate Assignments; Proportionate Holdings</U></B>. Notwithstanding anything to the contrary contained herein, including
without limitation, <B>Sections 2.5, 3.11</B> and <B>12.10</B>, at all times, each Lender shall (either directly or indirectly through an Affiliate or branch) hold a portion (in proportionate amounts) of each of the US Revolver Commitments (or the
US Revolver Loans if such Commitments have been terminated) and the Canadian Revolver Commitments (or the Canadian Revolver Loans if such Commitments have been terminated). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.4. <U>Register</U></B>. The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at the
Administrative Agent&#146;s office a copy of each Assignment and Assumption Agreement delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Lenders&#146; Commitments of, and principal amounts of the
Loans, US LC Obligations and Canadian LC Obligations owing to, each Lender pursuant to the terms hereof from time to time (the &#147;<U>Register</U>&#148;). The entries in the Register shall be conclusive, and the Borrowers, the Agents and the
Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by
each of the Borrowers and the Issuing Banks at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any
Lender may request and receive from the Administrative Agent a copy of the Register. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.5. <U>Participations</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any Lender may at any time, without the consent of, or notice to, the Borrowers or any Agent, sell participations to any Person (other
than a natural person or any Borrower or any of the Borrower&#146;s Affiliates or Subsidiaries) (each, a &#147;<U>Participant</U>&#148;) in all or a portion of such Lender&#146;s rights and/or obligations under this Agreement (including all or a
portion of a Lender&#146;s Commitment and/or the Loans (including such Lender&#146;s participations in US LC Obligations, Canadian LC Obligations and/or Swing Line Loans) owing to it); <U>provided</U> that (i)&nbsp;each such participation shall be
in an amount of not less than the Dollar Equivalent of $10,000,000, (ii)&nbsp;such Lender&#146;s obligations under this Agreement shall remain unchanged, (iii)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iv)&nbsp;the Borrowers, the Agents, the Lenders and the Issuing Banks shall continue to deal solely and directly with such Lender in connection with such Lender&#146;s rights and obligations under this Agreement.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">138 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <U>provided</U> that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, waiver or other modification that would reduce the principal of or the interest rate on any Loans, extend the term or increase the amount of the Commitment of such Lender as
it relates to such Participant, reduce the amount of any Unused Fees or Letter of Credit Fees to which such Participant is entitled or extend any regularly scheduled payment date for principal or interest or release Collateral which would cause an
Overadvance Loan that affects such Participation. Subject to <B>Section&nbsp;13.6</B>, the Loan Parties agree that each Participant shall be entitled to the benefits of <B>Sections 3.6, 3.9, 5.8</B> and <B>5.9</B> to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to <B>Section&nbsp;13.2</B>. To the extent permitted by Applicable Law, each Participant also shall be entitled to the benefits of <B>Section&nbsp;11.4</B> as though it were a Lender,
provided such Participant agrees to be subject to <B>Section&nbsp;12.5</B> as though it were a Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.6. <U>Limitations upon
Participant Rights</U></B>. A Participant shall not be entitled to receive any greater payment under <B>Section&nbsp;3.6, 5.8</B> or <B>5.9</B> than the applicable Lender would have been entitled to receive with respect to the participation sold to
such Participant, unless the sale of the participation to such Participant is made with the Borrowers&#146; prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of
<B>Section&nbsp;5.9</B> unless the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with <B>Section&nbsp;5.9</B> as though it were a Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.7. <U>Certain Pledges</U></B>. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under
this Agreement (including under its Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <U>provided</U> that no such pledge or assignment shall release such Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.8.
<U>Electronic Execution of Assignments</U></B>. The words &#147;execution,&#148; &#147;signed,&#148; &#147;signature,&#148; and words of like import in any Assignment and Assumption Agreement shall be deemed to include electronic signatures or the
keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided
for in any Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.9. <U>Tax Treatment</U>.</B> If any interest in a Loan Document is transferred to a Transferee that is organized under the laws of
any jurisdiction other than the United States or any state or district thereof, the transferor Lender shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of <B>Section&nbsp;5.9</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.10. <U>Representation of the Lenders</U>. </B>Each Lender represents and warrants to each Borrower, each Agent and other Lenders that
none of the consideration used by it to fund its Loans or to participate in any other transactions under this Agreement constitutes for any purpose of ERISA or Section&nbsp;4975 of the Code assets of any &#147;plan&#148; as defined in
Section&nbsp;3(3) of ERISA or Section&nbsp;4975 of the Code and the interests of such Lender in and under the Loan Documents shall not constitute plan assets under ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.11. <U>Assignment by the Loan Parties</U>.</B> The Loan Parties shall not assign or transfer any of their rights or obligations under
any of the Loan Documents without the prior written consent of each of the Agents and each of the Lenders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">139 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 14. MISCELLANEOUS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.1. <U>Consents, Amendments and Waivers</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.1.1. <U>Amendment</U></B>. No modification of any Loan Document, including any extension or amendment of a Loan Document or any waiver
of a Default or Event of Default, shall be effective without the prior written agreement of the Administrative Agent, with the consent of the Required Lenders, and each Loan Party party to such Loan Document; provided, however, that (subject to
<B>Section&nbsp;4.2</B>): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) without the prior written consent of (i)&nbsp;the Administrative Agent, no modification shall be effective
with respect to any provision in a Loan Document that relates to any rights, duties or discretion of the Administrative Agent, (ii)&nbsp;the Canadian Agent, no modification shall be effective with respect to any provision in a Loan Document that
relates to any rights, duties or discretion of the Canadian Agent, or (iii)&nbsp;each Co-Collateral Agent, no modification shall be effective with respect to any provision in a Loan Document that relates to any rights, duties or discretion of the
Co-Collateral Agents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) without the prior written consent of each affected Issuing Bank, no modification shall be effective with
respect to any US LC Obligations, Canadian LC Obligations or <B>Section&nbsp;2.3</B>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) without the prior written consent of each
affected Lender, no modification shall be effective that would (i)&nbsp;increase the Commitment of such Lender; (ii)&nbsp;reduce the amount of, or waive, postpone or delay payment of, any principal, interest, fees or other amounts payable to such
Lender (it being understood that only the consent of the Required Lenders shall be necessary to amend the definition of &#147;Default Rate&#148; or waive any obligation of the Borrowers to pay interest at the Default Rate); (iii)&nbsp;amend the
definitions of US Borrowing Capacity, Canadian Borrowing Capacity or Term Loan Borrowing Capacity (and the defined terms used, directly or indirectly, in such definitions) or Pro Rata; or (iv)&nbsp;increase any advance rate<I> (it being understood,
however</I>, that clauses (iii)&nbsp;and (iv)&nbsp;above shall not (x)&nbsp;limit the adjustment by the Agents of the Availability Reserve in the Agents&#146; administration of the Loans as otherwise permitted by this Agreement or (y)&nbsp;prevent
the Agents, in their administration of the Loans, from restoring any component of the US Borrowing Capacity, Canadian Borrowing Capacity or Term Loan Borrowing Capacity which had been lowered by the Agents back to the value of such component, as
stated in this Agreement or to an intermediate value); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) no modification shall be effective that would change (i)&nbsp;any provision of
this <B>Section&nbsp;14.1</B> or the definition of &#147;Required Lenders&#148; without the written consent of each Lender, (ii)&nbsp;the definition of &#147;Required US Lenders&#148; without the written consent of each US Lender; or (iii)&nbsp;the
definition of &#147;Required Canadian Lenders&#148; without the written consent of each Canadian Lender;[<STRIKE> and</STRIKE>] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)
without the prior written consent of all Lenders, no modification shall be effective that would (i)&nbsp;extend the Termination Date; (ii)&nbsp;alter <B>Section&nbsp;5.5, Section&nbsp;7</B> or <B>Section&nbsp;12.5</B>; (iii)&nbsp;release all or
substantially all of the Collateral (excluding, if any Loan Party or any Subsidiary of any Loan Party becomes a debtor under the federal Bankruptcy Code, the release of &#147;cash collateral&#148;, as defined in Section&nbsp;363(a) of the federal
Bankruptcy Code pursuant to a cash collateral stipulation with the debtor approved by the Required Lenders) or the Montrovest LC, other than as provided by the terms of the Third Amendment; or (iv)&nbsp;release all or substantially all of the value
of the Guaranties<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">; and</U> </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(f)</U> <U STYLE="border-bottom:1pt double; padding-bottom:1pt">If any amendment or
modification to the Term Loan Documents after the Fifth Amendment Effective Date amends or modifies any representation and warranty, covenant (including any financial covenant) or event of default contained in the Term Loan Documents (or any related
definitions), in each case, in a manner that is more restrictive than the applicable provisions permit as of the Fifth Amendment Effective Date, or if any amendment or modification to</U> </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">140 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
<U STYLE="border-bottom:1pt double; padding-bottom:1pt">the Term Loan Documents adds an additional representation and warranty, covenant or event of default therein, the Borrowers agree to amend
this Agreement or the other Loan Documents to effect similar amendments or modifications with respect to this Agreement and/or such other Loan Documents. To the extent the Borrowers do not promptly execute and deliver an amendment hereto to give
effect to the foregoing, the Borrowers shall permit the Agents and Lenders to document each such similar amendment or modification to this Agreement or such other Loan Documents or insert a corresponding new representation and warranty, covenant or
event of default in this Agreement or such other Loan Documents without any need for any further action or consent by the Borrowers</U></B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.1.2. <U>Limitations</U></B>. The agreement of the Loan Parties shall not be necessary to the effectiveness of any modification of a Loan
Document that deals solely with the rights and duties of the Lenders, the Agents, the Co-Collateral Agents and/or the Issuing Banks as among themselves. Only the consent of the parties to the applicable Fee Letter, the Co-Collateral Agent Rights
Agreement or any agreement relating to a Bank Product shall be required for any modification of such agreement, and no Affiliate or branch of a Lender that is party to a Bank Product agreement shall have any other right to consent to or participate
in any manner in modification of any other Loan Document. The making of any Loans or the issuance of Letters of Credit during the existence of a Default or Event of Default shall not be deemed to constitute a waiver of such Default or Event of
Default, nor to establish a course of dealing. Any waiver or consent granted by the Lenders hereunder shall be effective only if in writing, and then only in the specific instance and for the specific purpose for which it is given. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.1.3. <U>Payment for Consents</U></B>. No Loan Party will, directly or indirectly, pay any remuneration or other thing of value, whether
by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration or value is concurrently paid,
on the same terms, on a Pro Rata basis to all Lenders providing their consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.2. <U>Indemnity</U></B>. <B>EACH LOAN PARTY SHALL
INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES, CLAIMS, DAMAGES, PENALTIES, JUDGMENTS, PROCEEDINGS, COSTS AND EXPENSES OF ANY KIND (INCLUDING REMEDIAL RESPONSE COSTS, REASONABLE ATTORNEYS&#146; FEES
AND EXTRAORDINARY EXPENSES) AT ANY TIME (INCLUDING AFTER FULL PAYMENT OF THE OBLIGATIONS, RESIGNATION OR REPLACEMENT OF ANY AGENT, OR REPLACEMENT OF ANY LENDER) INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE IN ANY WAY RELATING TO (A)&nbsp;ANY LOAN
DOCUMENTS OR TRANSACTIONS RELATING THERETO, (B)&nbsp;ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY INDEMNITEE IN CONNECTION WITH ANY LOAN DOCUMENTS, (C)&nbsp;THE EXISTENCE OR PERFECTION OF ANY LIENS, OR REALIZATION UPON ANY COLLATERAL,
(D)&nbsp;EXERCISE OF ANY RIGHTS OR REMEDIES UNDER ANY LOAN DOCUMENTS OR APPLICABLE LAW, (E)&nbsp;FAILURE BY ANY LOAN PARTY TO PERFORM OR OBSERVE ANY TERMS OF ANY LOAN DOCUMENT, IN EACH CASE INCLUDING ALL COSTS AND EXPENSES RELATING TO ANY
INVESTIGATION, LITIGATION, ARBITRATION OR OTHER PROCEEDING (INCLUDING AN INSOLVENCY PROCEEDING OR APPELLATE PROCEEDINGS), WHETHER OR NOT THE APPLICABLE INDEMNITEE IS A PARTY THERETO, (F)&nbsp;ANY LOAN OR LETTER OF CREDIT OR THE USE OR PROPOSED USE
OF THE PROCEEDS THEREFROM (INCLUDING ANY REFUSAL BY THE ISSUING BANK 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),
(G)&nbsp;ANY ACTUAL OR ALLEGED ENVIRONMENTAL RELEASE ON OR FROM ANY PROPERTY OWNED OR OPERATED BY ANY BORROWER OR ANY OF ITS SUBSIDIARIES, OR ANY LIABILITY IN </B></P>
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CONNECTION WITH ANY ACTUAL OR ALLEGED VIOLATION OF ANY ENVIRONMENTAL LAW RELATED IN ANY WAY TO ANY LOAN PARTY OR ANY OF ITS SUBSIDIARIES, OR (H)&nbsp;ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION,
INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY, WHETHER BROUGHT BY A THIRD PARTY OR BY A BORROWER OR ANY OTHER LOAN PARTY (HEREINAFTER, &#147;CLAIMS&#148;) THAT MAY BE INCURRED BY OR
ASSERTED AGAINST ANY INDEMNITEE, INCLUDING CLAIMS ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE.</B> In no event shall any party to a Loan Document have any obligation thereunder to indemnify or hold harmless an Indemnitee with respect to a Claim
that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct of such Indemnitee. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.3. <U>Notices and Communications</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.3.1. <U>Notice Address</U></B>. Subject to <B>Section&nbsp;4.1.4</B>, all notices, requests and other communications by or to a party
hereto shall be in writing and shall be given to any Loan Party, at the Borrower Agent&#146;s mailing address identified on <B>Schedule 14.3.1</B>, and to any Agent or Lender at its address identified on <B>Schedule 14.3.1</B> (or, in the case of a
Person who becomes a Lender after the Closing Date, at the address shown on its Assignment and Assumption Agreement), or at such other address as a party may hereafter specify by notice in accordance with this <B>Section&nbsp;14.3</B>. Each such
notice, request or other communication shall be effective only (a)&nbsp;if given by facsimile transmission, when transmitted to the applicable facsimile number, if confirmation of receipt is received; (b)&nbsp;if given by mail, three Business Days
after deposit in the mail, with first-class postage pre-paid, addressed to the applicable address; or (c)&nbsp;if given by personal delivery, when duly delivered to the notice address with receipt acknowledged. Notwithstanding the foregoing, no
notice to any Agent pursuant to <B>Section&nbsp;2.2, 2.3, 3.1.2 </B>or<B> 4.1.1 </B>shall be effective until actually received by the individual to whose attention at such Agent such notice is required to be sent. Any written notice, request or
other communication that is not sent in conformity with the foregoing provisions shall nevertheless be effective on the date actually received by the noticed party. Any notice received by the Borrower Agent shall be deemed received by all Borrowers
and Loan Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.3.2. <U>Electronic Communications; Voice Mail</U></B>. Electronic mail and internet websites may be used only for
routine communications, such as financial statements, Borrowing Base Certificates and other information required by <B>Section&nbsp;10.1.2</B>, administrative matters, distribution of Loan Documents for execution, and matters permitted under
<B>Section&nbsp;4.1.4</B>. The Agents and the Lenders make no assurances as to the privacy and security of electronic communications. Electronic and voice mail may not be used as effective notice under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>14.3.3. <U>Non-Conforming Communications</U></B>. The Agents and the Lenders may rely upon any notices purportedly given by or on behalf of
any Borrower even if such notices were not made in a manner specified herein, were incomplete or were not confirmed, or if the terms thereof, as understood by the recipient, varied from a later confirmation. Each Borrower shall indemnify and hold
harmless each Indemnitee from any liabilities, losses, costs and expenses arising from any telephonic communication purportedly given by or on behalf of a Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.4. <U>Performance of the Borrowers&#146; Obligations</U>.</B> Any Agent may, in its discretion at any time and from time to time after
the occurrence, and during the continuance, of an Event of Default, at the Borrowers&#146; expense, pay any amount or do any act required of a Borrower under any Loan Documents or otherwise lawfully requested by such Agent to (a)&nbsp;enforce any
Loan Documents or collect any Obligations; (b)&nbsp;protect, insure, maintain or realize upon any Collateral; or (c)&nbsp;defend or maintain the validity or priority of such Agent&#146;s Liens in any Collateral, including any payment of a judgment,
insurance premium, </P>
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warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses (including Extraordinary Expenses) of each Agent under this<B>
Section&nbsp;14.4</B> shall be reimbursed to such Agent by the Borrowers, <B>on demand</B>, with interest from the date incurred to the date of payment thereof at the Default Rate applicable to Base Rate Loans. Any payment made or action taken by
any Agent under this <B>Section&nbsp;14.4 </B>shall be without prejudice to any right to assert an Event of Default or to exercise any other rights or remedies under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.5. <U>Credit Inquiries</U>.</B> Each Loan Party hereby authorizes the Agents and the Lenders (but they shall have no obligation) to
respond to usual and customary credit inquiries from third parties concerning any Loan Party or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.6.
<U>Severability</U>.</B> Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to
the extent of such invalidity and the remaining provisions of the Loan Documents shall remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.7.
<U>Cumulative Effect; Conflict of Terms</U>.</B> The provisions of the Loan Documents are cumulative. The parties acknowledge that the Loan Documents may use several different limitations, tests or measurements to regulate the same or similar
matters, and they agree that these are cumulative and that each must be performed as provided. Except as otherwise specifically provided in another Loan Document (by specific reference to the applicable provision of this Agreement), if any provision
contained herein is in direct conflict with any provision in another Loan Document, the provision herein shall govern and control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.8. <U>Counterparts; Facsimile and Electronic Signatures</U>.</B> Any Loan Document may be executed in counterparts, each of which taken
together shall constitute one instrument. Loan Documents may be executed and delivered by facsimile or electronic communication, and they shall have the same force and effect as manually signed originals. Any Agent may require confirmation by a
manually-signed original, but failure to request or deliver same shall not limit the effectiveness of any such facsimile signature or signature received by electronic communications. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.9. <U>Entire Agreement</U>.</B> Time is of the essence of the Loan Documents. The Loan Documents embody the entire understanding of the
parties with respect to the subject matter thereof and supersede all prior understandings regarding the same subject matter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.10.
<U>Obligations of the Lenders</U>.</B> The obligations of each Lender hereunder are several, and no Lender shall be responsible for the obligations or Commitments of any other Lender. Amounts payable hereunder to each Lender shall be a separate and
independent debt, and each Lender shall be entitled, to the extent not otherwise restricted hereunder, to protect and enforce its rights arising out of the Loan Documents. It shall not be necessary for any Agent or any other Lender to be joined as
an additional party in any proceeding for such purposes. Nothing in this Agreement and no action of any Agent or any Lender pursuant to the Loan Documents shall be deemed to constitute the Agents and the Lenders to be a partnership, association,
joint venture or any other kind of entity, nor to constitute control of any Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.11. <U>Confidentiality</U></B>. The Lenders
agree to maintain the confidentiality of any information that the Loan Parties deliver to the Agents and the Lenders, except that any Agent and any Lender may disclose such information (a)&nbsp;to their respective officers, directors, employees,
Affiliates, branches and agents, including legal counsel, auditors and other professional advisors; (b)&nbsp;to any party to the Loan Documents from time to time (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such information and instructed to keep such information confidential); (c)&nbsp;pursuant to the order of any court or administrative agency; (d)&nbsp;upon the request of any Governmental
</P>
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Authority exercising regulatory authority over such Agent or such Lender; (e)&nbsp;which ceases to be confidential, other than by an act or omission of any Agent or any Lender, or which becomes
available to any Agent or any Lender on a nonconfidential basis; (f)&nbsp;to the extent reasonably required in connection with any litigation relating to any Loan Documents or transactions contemplated thereby, or otherwise as required by Applicable
Law; (g)&nbsp;to the extent reasonably required for the exercise of any rights or remedies under the Loan Documents; (h)&nbsp;to any actual or proposed party to a Bank Product or to any Transferee, as long as such Person agrees to be bound by the
provisions of this <B>Section&nbsp;14.11</B>; (i)&nbsp;to the National Association of Insurance Commissioners or any similar organization, or to any nationally recognized rating agency that requires access to information about a Lender&#146;s
portfolio in connection with ratings issued with respect to such Lender; (j)&nbsp;to any investor or potential investor in an Approved Fund that is a Lender or Transferee, but solely for use by such investor to evaluate an investment in such
Approved Fund, or to any manager, servicer or other Person in connection with its administration of any such Approved Fund (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such
information and instructed to keep such information confidential); or (k)&nbsp;with the consent of the Borrower Agent. Notwithstanding the foregoing, the Agents and the Lenders may issue and disseminate to the public general information describing
this credit facility, including the names and addresses of the Loan Parties and a general description of the Loan Parties&#146; businesses, and may (so long as the Borrower Agent has previously reviewed and approved the form of such advertisement or
promotional materials) use the Loan Parties&#146; names in advertising and other promotional materials. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.12. <U>GOVERNING
LAW</U></B>. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, NEW YORK GENERAL OBLIGATIONS LAW SECTIONS 5-1401 AND 5-1402 (BUT GIVING
EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.13. <U>Consent to Forum</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EACH LOAN PARTY PARTY HERETO HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL COURT SITTING IN OR WITH JURISDICTION OVER THE
SOUTHERN DISTRICT OF NEW YORK AND OF ANY STATE COURT OF THE STATE OF NEW YORK SITTING IN THE COUNTY OF MANHATTAN, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT
SOLELY IN ANY SUCH COURT. EACH LOAN PARTY PARTY HERETO IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT&#146;S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. Nothing herein shall
limit the right of any Agent or any Lender to bring proceedings against any Loan Party in any other court. Nothing in this Agreement shall be deemed to preclude enforcement by any Agent of any judgment or order obtained in any forum or jurisdiction.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.14. <U>Waivers by the Loan Parties</U></B>. To the fullest extent permitted by Applicable Law, each Loan Party party hereto waives
(a)&nbsp;the right to trial by jury (which each Agent and each Lender hereby also waives) in any proceeding, claim or counterclaim of any kind relating in any way to any Loan Documents, Obligations or Collateral; (b)&nbsp;presentment, demand,
protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by any
Agent or any other Secured Party on which a Borrower or such Loan Party may in any way be liable, and hereby ratifies anything such Agent or such other Secured Party may do in this regard; (c)&nbsp;notice prior to taking possession or control of any
Collateral; (d)&nbsp;any bond or security that might be required by a court prior to allowing any Agent to exercise any rights or remedies; (e)&nbsp;the benefit of all valuation, appraisement and exemption laws;
</P>
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(f) any claim against any Agent or any Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way
relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g)&nbsp;notice of acceptance hereof. Each Loan Party hereto acknowledges that the foregoing waivers are a material inducement to the Agents and
the Lenders entering into this Agreement and that the Agents and the Lenders are relying upon the foregoing in their dealings with the Borrowers and the other the Loan Parties. Each Loan Party has reviewed the foregoing waivers with its legal
counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.15. <U>Patriot Act Notice</U></B>. The Agents and the Lenders hereby notify the Borrowers and the other Loan Parties that pursuant to
the requirements of the Patriot Act, the Agents and the Lenders are required to obtain, verify and record information that identifies each Loan Party, including its legal name, address, tax ID number and other information that will allow the Agents
and the Lenders to identify it in accordance with the Patriot Act. The Agents and the Lenders will also require information regarding each personal guarantor, if any, and may require information regarding the Loan Parties&#146; management and
owners, such as legal name, address, social security number and date of birth. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.16. <U>Survival of Representations and
Warranties</U>. </B>All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and
thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of any investigation made by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have
had notice or knowledge of any Default or Event of Default at the time of any credit extension, and shall continue in full force and effect until the Full Payment of the Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.17. <U>No Advisory or Fiduciary Responsibility</U></B>. In connection with all aspects of each transaction contemplated hereby
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Loan Parties acknowledges and agrees, and acknowledges its Affiliates&#146; understanding, that: (i)&nbsp;(A)&nbsp;the
arranging and other services regarding this Agreement provided by the Agents and the Arrangers are arm&#146;s-length commercial transactions between the Loan Parties and their respective Affiliates, on the one hand, and the Agents and the Arrangers,
on the other hand, (B)&nbsp;each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C)&nbsp;each of the Loan Parties is capable of evaluating, and understands and
accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii)&nbsp;(A)&nbsp;the Agents and the Arrangers each is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Loan Parties or any of their respective Affiliates, or any other Person and (B)&nbsp;neither the Agents nor the Arrangers has any
obligation to the Loan Parties or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii)&nbsp;the Agents and the
Arrangers and their respective Affiliates and branches may be engaged in a broad range of transactions that involve interests that differ from those of the Loan Parties and their respective Affiliates, and neither the Agents nor the Arrangers has
any obligation to disclose any of such interests to the Loan Parties or any of their respective Affiliates. To the fullest extent permitted by law, except in connection with the gross negligence and willful misconduct of the Agents, the Arrangers or
their Affiliates or branches, each of the Loan Parties hereby waives and releases any claims that it may have against the Agents and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect
of any transaction contemplated hereby. Each Loan Party acknowledges and agrees that in connection with all aspects of any transaction contemplated by the Loan Documents, the Loan Parties, the Agents, the Issuing Banks, the Arrangers and the Lenders
have an arms-length business relationship that creates no fiduciary duty on the part of any Agent, any Issuing Bank, any Arranger or any Lender, and each Loan Party, Agent, Issuing Bank, Arranger and Lender expressly disclaims any fiduciary
relationship. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.18. <U>Resignation as Issuing Bank or Provider of Swingline Loans after Assignment</U></B>.
Notwithstanding anything to the contrary contained herein, if at any time Bank of America resigns as the Administrative Agent or assigns all of its US Revolver Commitment and US Revolver Loans, Bank of America may, (i)&nbsp;upon 30 days&#146; notice
to the US Borrower and the US Lenders, resign as Issuing Bank of Letters of Credit issued for the account or benefit of the US Borrower and/or (ii)&nbsp;upon 30 days&#146; notice to the US Borrower, resign as provider of Swingline Loans to the US
Borrower. Notwithstanding anything to the contrary contained herein, if at any time Bank of America-Canada Branch or any Affiliate or branch resigns as the Canadian Agent or assigns all of its Canadian Revolver Commitment and Canadian Revolver
Loans, Bank of America-Canada Branch or such Affiliate or branch may, (i)&nbsp;upon 30 days&#146; notice to the Canadian Borrower and the Canadian Lenders, resign as Issuing Bank of Letters of Credit issued for the account or benefit of the Canadian
Borrower and/or (ii)&nbsp;upon 30 days&#146; notice to the Canadian Borrower, resign as provider of Swingline Loans to the Canadian Borrower. In the event of any such resignation as Issuing Bank or provider of Swingline Loans, the Borrowers shall be
entitled to appoint from among the Lenders a successor Issuing Bank or provider of Swingline Loans; <U>provided</U>, <U>however</U>, that no failure by the Borrowers to appoint any such successor shall affect the resignation of Bank of America or
Bank of America-Canada Branch (or any Affiliate or branch) as Issuing Bank or provider of Swingline Loans, as the case may be. If Bank of America or Bank of America-Canada Branch (or any Affiliate or branch) resigns as Issuing Bank, it shall retain
all the rights, powers, privileges and duties of Issuing Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Issuing Bank and all US LC Obligations or Canadian LC Obligations, as the case
may be, with respect thereto (including the right to require the Lenders to make Base Rate Loans or Canadian Prime Rate Loans, as applicable, or fund risk participations in unreimbursed drawings of Letters of Credit). If Bank of America or Bank of
America-Canada Branch resigns as provider of Swingline Loans, it shall retain all the rights of provider of Swingline Loans provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such
resignation, including the right to require the Lenders to make Base Rate Loans or Canadian Prime Rate Loans or fund risk participations in outstanding Swingline Loans. Upon the appointment of a successor Issuing Bank and/or provider of Swingline
Loans, (a)&nbsp;such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank or provider of Swingline Loans, as the case may be, and (b)&nbsp;the successor Issuing Bank shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America or Bank of
America-Canada Branch (or any Affiliate or branch) with respect to such Letters of Credit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.19. <U>Language</U>.</B> The parties
have requested that this Agreement and the other documents contemplated hereby or relating hereto be drawn up in the English language. <I>Les parties ont requis que cette convention ainsi que tous les documents qui y sont envisag&eacute;s ou qui
s&#146;y rapportent soient r&eacute;dig&eacute;s en langue anglaise.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.20. <U>Existing Credit Agreement and Loan
Documents</U></B>. Each of the Loan Parties hereby ratifies and confirms all of its Obligations to the Administrative Agent, the Canadian Agent, the Lenders and the other Secured Parties under the Existing Credit Agreement, as amended hereby, and
the other Loan Documents (as defined in the Existing Credit Agreement), as amended hereby, including, without limitation, the Loans, and each of the Loan Parties hereby affirms its absolute and unconditional promise to pay to the Lenders, the
Administrative Agent, the Canadian Agent and the other Secured Parties, as applicable, the Loans, reimbursement obligations and all other amounts due or to become due and payable to the Lenders, the Administrative Agent, the Canadian Agent and the
other Secured Parties, as applicable, under the Existing Credit Agreement and the other Loan Documents (as defined in the Existing Credit </P>
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Agreement), as amended hereby, and it is the intent of the parties hereto that nothing contained herein shall constitute a novation or accord and satisfaction. The parties hereto acknowledge and
agree that (i)&nbsp;each reference to the Existing Credit Agreement, however so defined, in the Loan Documents (as defined in the Existing Credit Agreement) from and after the date hereof shall mean the Existing Credit Agreement as amended and
restated pursuant to this Agreement, and (ii)&nbsp;each of the Loan Documents (as defined in the Existing Credit Agreement) is hereby amended by (a)&nbsp;substituting a reference to this Agreement as herein defined in place of each reference to the
Existing Credit Agreement (whether referred to by the full name of the Existing Credit Agreement or by any other name which refers thereto by definition), and (b)&nbsp;substituting for the definition of each capitalized term defined by reference to
the Existing Credit Agreement the definition of such capitalized term set forth in this Agreement, including without limitation the definition of the term &#147;<U>Obligations</U>&#148;. Each of the parties hereto agrees that each Loan Document (as
defined in the Existing Credit Agreement), as amended hereby, to which such party is a party shall remain in full force and effect. Each of the parties listed as signatories hereto ratifies and reaffirms the continued validity of, and all of the
terms and conditions of, and all of the warranties and representations set forth in, each such Loan Document (as defined in the Existing Credit Agreement), as amended hereby, to which it is a party and agrees and confirms that the Obligations are
secured under and in accordance with the Loan Documents (as defined in the Existing Credit Agreement), as amended hereby, to which such party is a party. Each of the Loan Parties hereby acknowledges, confirms and agrees that the Liens, hypothecs,
pledges and security interests granted pursuant to the Loan Documents (as defined in the Existing Credit Agreement), as amended hereby, are and continue to be valid, perfected and enforceable first priority liens, hypothecs, pledges and security
interests (subject only to Permitted Liens entitled to priority under Applicable Law) that secure all of the Obligations on and after the date hereof. All references in each of the Loan Documents (as defined in the Existing Credit Agreement) or any
related agreement or instrument, as amended hereby, to the Loan Documents (as defined in the Existing Credit Agreement) hereafter refer to each of the Loan Documents (as defined in the Existing Credit Agreement), as amended hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.21. <U>Transitional Arrangements</U></B>. Upon the effectiveness of this Agreement, this Agreement shall supersede the Existing Credit
Agreement in its entirety, except as otherwise provided in this <B>Section&nbsp;14.21</B>. This Agreement constitutes an amendment and restatement of the Existing Credit Agreement effective from and after the Closing Date. The execution and delivery
of this Agreement shall not constitute a novation of any indebtedness or other obligations owing to the Lenders, the Issuing Banks, the Agents or the other Secured Parties under the Existing Credit Agreement or evidence repayment of any such
indebtedness or other obligations. It is the intent of the parties hereto that this Agreement amend and restate in its entirety the Existing Credit Agreement and re-evidence the obligations of the Loan Parties outstanding thereunder, secured by the
Security Documents and guaranteed by the Guaranty. As of the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the &#147;Notes&#148; (as defined in the Existing Credit Agreement) shall be subsumed within
and be governed by this Agreement and the Notes. Each of the &#147;Loans&#148; (as defined in the Existing Credit Agreement) advanced by the Existing Lenders and outstanding under the Existing Credit Agreement immediately prior to the effectiveness
of this Agreement (other than the &#147;Tranche A-1 Loans&#148; under and as defined in the Existing Credit Agreement, which shall be re-paid in full in cash contemporaneously with the closing of the transactions contemplated hereby) shall continue
to be Loans hereunder, provided that all interest, fees and expenses owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date shall be calculated as of the Closing Date (pro rated in the case of any fractional
periods), and shall be paid at the times set forth herein. As of the Closing Date, the Existing Letters of Credit shall be deemed to be Letters of Credit issued pursuant to <B>Section&nbsp;2.3</B> and subject to the conditions of
<B>Section&nbsp;2.3</B>, <B>Section&nbsp;3.2.2</B>, and each other provision relating to Letters of Credit hereunder, and the Borrowers hereby affirm their respective obligations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">147 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.22. <U>Termination of Tranche A-1 Commitments</U></B>. The parties hereto acknowledge and
agree that, as of the Closing Date, the Tranche A-1 Commitments (as defined in the Existing Credit Agreement) is terminated in full. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.23. <U>Waiver of Early Termination Fees</U></B>. Each of the Lenders hereby waives any (a)&nbsp;early termination fees that would
otherwise be due and payable under Section&nbsp;2.2.1(e) of the Existing Credit Agreement as a result of the partial termination of the US Revolver Commitments (as defined in the Existing Credit Agreement) from $124,000,000 to $115,000,000 on the
date hereof (for the avoidance of doubt, this waiver shall not apply or extend to any early termination fees due and payable under <B>Section&nbsp;2.2.1(e)</B> of this Agreement as a result of the partial or full termination of the US Revolver
Commitments made on or after the Closing Date, which shall be due and payable in accordance with the provisions of <B>Section&nbsp;2.2.1(e)</B> of this Agreement and any such fees due under this Agreement shall not be deemed waived by virtue of the
provisions of this Section) and (b)&nbsp;early termination fees that would otherwise be due and payable under Section&nbsp;2.2.2(d) of the Existing Credit Agreement as a result of the termination of the Tranche A-1 Commitments (as defined in the
Existing Credit Agreement) on the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">14.24.</U>
<U STYLE="border-bottom:1pt double; padding-bottom:1pt">Canadian Anti-Money Laundering Legislation. If any Agent has ascertained the identity of any Loan Party or any authorized signatories of any Loan Party for the purposes of the
</U></B><B><I><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Proceeds of Crime (Money Laundering) and Terrorist Financing Act</U></I></B><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> (Canada) and other anti-terrorism laws and
&#147;know your client&#148; policies, regulations, laws or rules applicable in Canada (the </U></B><B><I><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Proceeds of Crime (Money Laundering) and Terrorist Financing
Act</U></I></B><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> (Canada) and such other anti-terrorism laws, applicable policies, regulations, laws or rules in Canada, collectively, including any guidelines or orders thereunder, &#147;AML
Legislation&#148;), then such Agent:</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(a)</U>
<U STYLE="border-bottom:1pt double; padding-bottom:1pt">shall be deemed to have done so as an agent for each Lender and this Agreement shall constitute a &#147;written agreement&#148; in such regard between each Lender and the Administrative Agent
within the meaning of the applicable AML Legislation; and</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(b)</U></B>
<B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">shall provide to the Lenders, copies of all information obtained in such regard without any representation or warranty as to its accuracy or completeness.</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Notwithstanding the preceding sentence and except as may otherwise be agreed in writing, each
Lender agrees that each Agent has no obligation to ascertain the identity of the Loan Parties or any authorized signatories of the Loan Parties on behalf of any Lender, or to confirm the completeness or accuracy of any information it obtains from
any Loan Party or any such authorized signatory in doing so.</U></B><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> <B></B></U><B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[Remainder of page intentionally left blank] </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signature Pages follow] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">148 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF,</B> the undersigned have duly executed this Agreement as a sealed
instrument as of the date first set forth above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>US BORROWER</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>MAYOR&#146;S JEWELERS, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN BORROWER</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BIRKS [<STRIKE>&amp; MAYORS</STRIKE>]<U STYLE="border-bottom:1pt double; padding-bottom:1pt">GROUP</U> INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>

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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>GUARANTORS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CASH, GOLD &amp; SILVER USA, INC.</B> (<I>formerly known as</I> Henry Birks &amp; Sons U.S., Inc.)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>MAYOR&#146;S JEWELERS OF FLORIDA, INC.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>JBM RETAIL COMPANY, INC.</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>JBM VENTURE CO., INC.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>MAYOR&#146;S JEWELERS INTELLECTUAL PROPERTY HOLDING COMPANY</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CASH, GOLD &amp; SILVER INC. &#150; OR ET ARGENT, COMPTANT INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>

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<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B><U>ADMINISTRATIVE AGENT</U>:</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>

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<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN AGENT</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A. (acting through its Canada branch)</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>

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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>CO-COLLATERAL AGENTS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV>

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<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
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<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>US LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF MONTREAL CHICAGO BRANCH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
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<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A. (acting through its Canada branch)</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>

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<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WELLS FARGO FOOTHILL CANADA ULC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD></TR>
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<TD VALIGN="top" COLSPAN="3"><B><U>CANADIAN LENDERS</U>:</B></TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF MONTREAL</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>d826942dex992.htm
<DESCRIPTION>THIRD AMENDED AND RESTATED TERM LOAN AND SECURITY AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Third Amended and Restated Term Loan and Security Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION&nbsp;&nbsp;&nbsp;&nbsp; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>VERSION&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MAYOR&#146;S JEWELERS, INC.,
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the US Borrower </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BIRKS GROUP INC. &#150; GROUPE BIRKS INC., </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the Canadian Borrower </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Collectively, the Borrowers </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND THEIR SUBSIDIARIES PARTY HERETO, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Guarantors </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIRD AMENDED AND RESTATED TERM
LOAN AND SECURITY AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of November&nbsp;21, 2014 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTAIN FINANCIAL INSTITUTIONS,
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Lenders, and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CRYSTAL FINANCIAL LLC, </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as
Administrative Agent and Collateral Agent </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>TABLE OF CONTENTS </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEFINITIONS; RULES OF CONSTRUCTION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounting Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Matters of Construction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Times of Day</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conversions of Foreign Currencies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CREDIT FACILITY</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Term Loan Facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mandatory Prepayments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Optional Prepayments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Treatment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">INTEREST, FEES AND CHARGES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rates and Payment of Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Computation of Interest, Fees, Yield Protection</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reimbursement Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital Adequacy</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mitigation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maximum Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of the Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dodd-Frank Act</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LOAN ADMINISTRATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulting Lender</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">The Borrower Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">PAYMENTS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Payment Provisions</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment of Term Loan</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Other Obligations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Marshaling; Payments Set Aside</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Allocation of Payments</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Account; Account Stated</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withholding Tax Exemption</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.10.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Matters</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.11.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Increased Costs</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CONDITIONS PRECEDENT</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to Effectiveness of Agreement</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Condition Subsequent</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limited Waiver of Conditions Precedent</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">COLLATERAL SECURITY AND GUARANTEES</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Grant of Security Interest</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit Accounts; Cash Collateral; Credit Card Agreements</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lien on Real Estate</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Collateral</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Assumption of Liability</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Further Assurances</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees by the Borrowers</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees by the Subsidiaries</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercompany Debt Subordination Arrangements</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">COLLATERAL ADMINISTRATION</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowing Base Certificates</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Account Verification</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administration of Inventory</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Provisions</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Power of Attorney</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">REPRESENTATIONS AND WARRANTIES</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Representations and Warranties</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">COVENANTS AND CONTINUING AGREEMENTS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affirmative Covenants</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Negative Covenants</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVENTS OF DEFAULT; REMEDIES ON DEFAULT</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies upon Default</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">License</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Setoff</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies Cumulative; No Waiver</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Judgment Currency</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">THE AGENTS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appointment, Authority and Duties of the Agents</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Agreements Regarding Collateral and Field Examination Reports</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reliance by the Agents</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Action Upon Default</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratable Sharing</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification of the Agent Indemnitees</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Responsibilities of the Agents</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Agent</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Due Diligence and Non-Reliance</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.10.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Certain Lenders</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.11.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remittance of Payments and Collections</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.12.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Crystal in its Individual Capacity</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.13.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Agent Titles</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.14.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Third Party Beneficiaries</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.15.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Documents; Intercreditor Agreement</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns Generally</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignments by Lenders</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Register</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Participations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitations upon Participant Rights</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Pledges</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Electronic Execution of Assignments</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Treatment</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.10.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representation of the Lenders</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.11.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignment by the Loan Parties</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.12.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Participant Register</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.1.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consents, Amendments and Waivers</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.2.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.3.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices and Communications</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.4.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Performance of the Borrowers&#146; Obligations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.5.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Credit Inquiries</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.6.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.7.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative Effect; Conflict of Terms</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.8.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Counterparts; Facsimile and Electronic Signatures</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.9.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Entire Agreement</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.10.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Obligations of the Lenders</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.11.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Confidentiality; Press Releases</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.12.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.13.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Forum</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.14.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waivers by the Loan Parties</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.15.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patriot Act Notice</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.16.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Survival of Representations and Warranties</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.17.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Advisory or Fiduciary Responsibility</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.18.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercreditor Agreement</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.19.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Language</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.20.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Second Amended and Restated Loan Agreement and Loan Documents</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.21.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transitional Arrangements</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>LIST OF EXHIBITS AND SCHEDULES </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A-1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Tranche A Term Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A-2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of U.S. Tranche B Term Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A-3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Canadian Tranche B Term Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;B</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Assignment and Assumption Agreement</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;C</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">[Reserved]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;D</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Compliance Certificate</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 1.1(a)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Commitments of the Lenders</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 1.1(b)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Excluded Subsidiaries</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 7.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Commercial Tort Claims</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 7.2.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Deposit Accounts</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 7.2.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Credit Card Arrangements</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 8.3.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Consignments</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 8.5.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Business Locations</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.4</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Names; Capital Structure; Warrants, Etc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.5</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Former Names and Companies</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule&nbsp;9.1.6(a)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Real Estate</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule&nbsp;9.1.6(b)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Investments</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.8</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Financial Statements</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.12</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Patents, Trademarks, Copyrights and Licenses</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.15</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Environmental Matters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.16</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Burdensome Agreements</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.17</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Litigation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.19</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Material Contracts</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.20</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Canadian Plans</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.22</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Labor Contracts</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 9.1.25</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Certain Transactions</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 10.2.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Existing Debt</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 10.2.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Existing Liens</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule 10.2.7</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Restrictions on Subsidiary Distributions (Contractual Obligations)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Schedule&nbsp;10.2.9(i)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Trademarks Licensed to Excluded Subsidiaries</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">v </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>THIRD AMENDED AND RESTATED TERM LOAN AND SECURITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS THIRD AMENDED AND RESTATED TERM LOAN AND SECURITY AGREEMENT</B> (THIS &#147;<U>AGREEMENT</U>&#148;) IS ENTERED INTO AS OF NOVEMBER 21,
2014, AMONG <B>MAYOR&#146;S JEWELERS INC., </B>A DELAWARE CORPORATION (THE &#147;<U>US BORROWER</U>&#148; OR &#147;<U>MAYOR&#146;S</U>&#148;), <B>BIRKS GROUP INC. &#150; GROUPE BIRKS INC. (</B>formerly known as BIRKS&nbsp;&amp; MAYORS INC.), A
CANADIAN CORPORATION (THE &#147;<U>CANADIAN BORROWER</U>&#148; OR &#147;<U>BIRKS</U>&#148; AND, TOGETHER WITH THE US BORROWER, COLLECTIVELY, THE &#147;<U>BORROWERS</U>&#148; AND EACH INDIVIDUALLY, A &#147;<U>BORROWER</U>&#148;), EACH SUBSIDIARY OF
THE BORROWERS FROM TIME TO TIME PARTY HERETO AS A GUARANTOR, EACH LENDER FROM TIME TO TIME PARTY HERETO (COLLECTIVELY, THE &#147;<U>LENDERS</U>&#148; AND EACH INDIVIDUALLY, A &#147;<U>LENDER</U>&#148;) AND <B>CRYSTAL FINANCIAL LLC</B>, AS
ADMINISTRATIVE AGENT AND COLLATERAL AGENT (IN ITS INDIVIDUAL CAPACITY, &#147;<U>CRYSTAL</U>&#148; OR THE &#147;<U>AGENT</U>&#148;).<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Canadian Borrower f/k/a Birks&nbsp;&amp; Mayors Inc., the US Borrower, the Guarantors, certain of the Lenders and GB
Credit Partners, LLC f/k/a GB Merchant Partners, LLC, as Administrative Agent and Co-Collateral Agent have entered into a Term Loan and Security Agreement dated as of December&nbsp;17, 2008 (the &#147;<U>Initial Loan Agreement</U>&#148;) pursuant to
which such Lenders have made a secured term loan to the Borrowers in the original principal amount of $13,000,000; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>,
the Initial Loan Agreement was amended and restated pursuant to an Amended and Restated Term Loan and Security Agreement dated as of June&nbsp;8, 2011 (the Initial Loan Agreement, as so amended and as amended by the First Amendment to Amended and
Restated Term Loan and Security Agreement dated as of August&nbsp;24, 2012 and in effect, the &#147;<U>2011 Loan Agreement</U>&#148;) pursuant to which such Lenders increased the principal amount of the secured term loan to the Borrowers to
$18,000,000; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, GB Credit Partners, LLC f/k/a GB Merchant Partners has resigned as Administrative Agent and as
Co-Collateral Agent and Pathlight Capital, LLC has been appointed Administrative Agent and Collateral Agent in its stead; and <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, GB Credit Partners, LLC f/k/a GB Merchant Partners has assigned all of its rights as Lender under the Existing Credit
Agreement and the other Loan Documents to Pathlight Capital, LLC; <B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the 2011 Loan Agreement was amended and
restated pursuant to a Second Amended and Restated Term Loan and Security Agreement dated as of August&nbsp;22, 2013, which Second Amended and Restated Term Loan and Security Agreement was amended by the first amendment to second amended and
restated term loan and security agreement dated as of June&nbsp;10, 2014 and the consent and second amendment to second amended and restated term loan and security agreement dated as of July&nbsp;25, 2014 (collectively, the &#147;<U>Second Amended
and Restated Loan Agreement</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Pathlight Capital, LLC has resigned as Administrative Agent and as Co-Collateral
Agent and Wells Fargo Credit, Inc. has resigned as Co-Collateral Agent and Documentation Agent and Crystal Financial LLC has been appointed Administrative Agent and Collateral Agent in their stead; and <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Pathlight Capital, LLC and Wells Fargo Credit, Inc. have assigned all of their rights as Lenders under the Second Amended and
Restated Loan Agreement and the other Loan Documents to Crystal Financial LLC; <B> </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrowers and the Guarantors have requested that the new Lenders amend and
restate the Second Amended and Restated Loan Agreement, and such Lenders are willing to do so upon the terms, and subject to the conditions, set forth herein.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of the mutual conditions and agreements set forth in this Agreement, and for good and valuable
consideration, the receipt of which is hereby acknowledged, the undersigned hereby agree that the Second Amended and Restated Loan Agreement shall be amended and restated in its entirety to read as follows:<B> </B></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>DEFINITIONS; RULES OF CONSTRUCTION </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.1. <U>Definitions</U></B>. As used herein, the following terms
have the meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Account</U> &#150; as defined in the UCC or the PPSA, as applicable, including all rights to
payment for goods sold or leased, or for services rendered. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Account Debtor</U> &#150; as defined in the UCC, and including a Person
who is obligated under an Account, Chattel Paper or General Intangible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Additional Subordinated Debt</U> &#150; such secured Debt
incurred by any Loan Party pursuant to <B>Section&nbsp;10.2.1(l)</B> that is expressly subordinated to the Full Payment of the Obligations on terms and conditions and pursuant to a Subordination Agreement in form, scope and substance satisfactory to
the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Additional Subordinated Debt Documents</U> &#150; all documents, instruments and agreements executed in connection with
any Additional Subordinated Debt, any such documents, instruments and agreements being in form, scope and substance satisfactory to the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Adjusted LIBOR</U> &#150; for any applicable Interest Period, with respect to any portion of the Term Loan, the rate per annum quoted as
the one month &#147;Libor Rate&#148; by the Wall Street Journal two (2)&nbsp;Business Days prior to the first day of the applicable Interest Period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Administrative Agent</U> &#150; Crystal Financial LLC, in its capacity as administrative agent for the Lenders and as collateral agent for
the Secured Parties regarding all matters concerning Collateral of the Loan Parties, or any successor Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Affiliate</U> &#150; with respect to any Person, another Person (a)&nbsp;who directly, or indirectly through one or more intermediaries,
controls, is controlled by or is under common control with such first Person; (b)&nbsp;who beneficially owns 10% or more of the voting securities or any class of Capital Stock of such first Person; (c)&nbsp;at least 10% of whose voting securities or
any class of Capital Stock is beneficially owned, directly or indirectly, by such first Person; or (d)&nbsp;who is an officer, director, partner or managing member of such first Person. &#147;<U>Control</U>&#148; means the possession, directly or
indirectly, of the power to direct or cause direction of the management and policies of a Person, whether through ownership of Capital Stock, by contract or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agent Monitoring Fee</U> &#150; as defined in <B>Section&nbsp;3.2.3</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agent Indemnitees</U> &#150; the Agents and their respective officers, directors, employees, Affiliates, branches, agents, advisors and
attorneys. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agent Professionals</U> &#150; attorneys, accountants, appraisers, auditors, business
valuation experts, environmental engineers or consultants, turnaround consultants, and other professionals and experts retained by the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Agents</U> &#150; collectively, the Administrative Agent and the Collateral Agent, and each individually an &#147;Agent&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Anti-Terrorism Laws</U> &#150; any laws relating to terrorism or money laundering, including the Patriot Act and the <I>Proceeds of Crime
(Money Laundering) and Terrorist Financing Act</I> (Canada). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Law</U> &#150; all laws, rules, regulations and governmental
guidelines and orders applicable to the Person, conduct, transaction, agreement or matter in question, including all applicable statutory law, common law and equitable principles, and all provisions of constitutions, treaties, statutes, rules,
regulations, orders and decrees of Governmental Authorities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Applicable Pension Legislation</U> &#150; at any time, any pension or
retirement benefits legislation (be it national, federal, provincial, territorial, foreign or otherwise) then applicable to the Borrowers or any of their Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Appraised A/R Liquidation Value</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Appraised Inventory Liquidation Value</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Approved Fund</U> &#150; any Person (other than a natural person) that is engaged in making, holding or investing in extensions of credit
in its ordinary course of business and is administered or managed by a Lender, an entity that administers or manages a Lender, or an Affiliate of either. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Assignee Group</U> &#150; two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the
same investment advisor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Assignment and Assumption Agreement</U> &#150; an assignment and assumption agreement between a Lender and
Eligible Assignee, substantially in the form of <B>Exhibit&nbsp;B</B> hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Availability Block</U> &#150; as of any date of
determination, the greater of (i)&nbsp;thirteen and one half percent (13.5%)&nbsp;<U>multiplied by</U> the Term Loan Borrowing Capacity (calculated without giving effect to the Availability Block or the Montrovest LC to the extent the Montrovest LC
Event has not occurred), and (ii)&nbsp;$11,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Availability Reserves</U> &#150; as defined in the Revolving Credit Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bank of America</U> &#150; Bank of America, N.A., a national banking association. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Bankruptcy Code</U> &#150; Title 11 of the United States Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Birks US</U> &#150; Henry Birks&nbsp;&amp; Sons U.S., Inc., a Delaware corporation, which effective as of July&nbsp;31, 2009 changed its
name to Cash, Gold&nbsp;&amp; Silver USA, Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>BME IPCO</U> &#150; BME IPCO, Inc., a Delaware corporation, constituted as a joint
venture in which the Canadian Borrower owns 50% of the issued and outstanding Capital Stock of BME IPCO and Esty Grossman, an individual, owns the remaining 50% of the issued and outstanding Capital Stock of BME IPCO. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>BME IPCO Distribution Agreement</U> &#150; that certain Jewellery Design and Distribution
Agreement entered into in Montreal, Quebec, Canada on August&nbsp;31, 2006, between Esty Grossman, an individual, the Canadian Borrower and BME IPCO, as in effect on November&nbsp;9, 2006, a copy of which is on file with the Administrative Agent.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Board of Governors</U> &#150; the Board of Governors of the Federal Reserve System. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrower</U> and <U>Borrowers</U> &#150; as defined in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrower Agent</U> &#150; as defined in <B>Section&nbsp;4.4</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Borrowing Base Certificate</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Business Day</U> &#150; any day excluding (a)&nbsp;Saturday, Sunday and any other day on which banks are permitted to be closed under the
laws of the Commonwealth of Massachusetts, (b)&nbsp;any day on which banks do not conduct dealings in Dollar deposits on the London interbank market, and (c)&nbsp;any other day on which banks are permitted or required to be closed in Toronto,
Ontario, Canada or in Montr&eacute;al, Qu&eacute;bec, Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Borrower</U> &#150; as defined in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Concentration Accounts</U> &#150; special concentration accounts established by the Canadian Borrower with the Canadian Revolving
Agent, subject to the control of the Control Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Debtor Relief Laws</U> &#150; means <I>the Bankruptcy and Insolvency
Act</I> (Canada), <I>the Companies&#146; Creditors Arrangement Act</I> (Canada), <I>the Winding-up and Restructuring Act</I> (Canada) and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, dissolution or similar debtor relief laws of Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Dollars or Cdn.
$</U> &#150; the lawful currency of Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Guarantors</U> &#150; all Subsidiaries of the Borrowers that have executed a
Guaranty and are organized under the laws of Canada or any province or territory thereof, and, with respect to the Term Loan made to the US Borrower, the Canadian Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Loan Parties</U> &#150; collectively, the Canadian Borrower and the Canadian Guarantors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Plan</U> &#150; any pension or other employee benefit plan and which is: (a)&nbsp;a plan maintained by any Canadian Loan Party or
any Subsidiary of a Canadian Loan Party; (b)&nbsp;a plan to which any Canadian Loan Party or any Subsidiary of a Canadian Loan Party contributes or is required to contribute; (c)&nbsp;a plan to which any Canadian Loan Party or any Subsidiary of a
Canadian Loan Party was required to make contributions at any time during the five (5)&nbsp;calendar years preceding the date of this Agreement; or (d)&nbsp;any other plan with respect to which any Canadian Loan Party or any Subsidiary or Affiliate
of a Canadian Loan Party has incurred or may incur liability, including contingent liability either to such plan or to any Person, administration or Governmental Authority, including the FSCO. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Revolving Agent</U> &#150; the &#147;Canadian Agent&#148;, as defined in the Revolving Credit Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Canadian Security Documents</U> &#150; the General Security Agreement and the Quebec Security
Documents, together with all security agreements, deeds of hypothec, pledge agreements or other collateral security agreements, instruments or documents (including Lien Waivers, Lien Priority Agreements and estoppel letters) entered into or to be
entered into by any Loan Party pursuant to which such Loan Party grants or perfects a security interest in its assets to the Administrative Agent, including, without limitation PPSA and UCC financing statements and certified statements issued by the
Qu&eacute;bec Register of Personal and Movable Real Rights, required to be executed or delivered pursuant to any Canadian Security Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Adequacy Regulation</U> &#150; any law, rule, regulation, guideline, request or directive of any central bank or other Governmental
Authority, whether or not having the force of law, regarding capital adequacy of a bank or any Person controlling a bank. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital
Assets</U> &#150; fixed assets, both tangible (such as land, buildings, fixtures, machinery and equipment) and intangible (such as patents, copyrights, trademarks, franchises and goodwill); provided that Capital Assets shall not include any item
customarily charged directly to expense or depreciated over a useful life of twelve (12)&nbsp;months or less in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Block</U> &#150; as of any date of calculation after December&nbsp;20, 2014, an amount equal to $12,500,000 <I>minus</I> the
Seasonal Block, provided however, that such Capital Block shall be removed if the following conditions are satisfied: (i)&nbsp;Borrowers have delivered the required financial reporting statements for the period ending December&nbsp;31, 2014 which
demonstrates that the Loan Parties are in compliance with the financial covenant set forth in <B>Section&nbsp;10.2.27</B> and (ii)&nbsp;there are no Events of Default continuing on the date the financial reporting statements contemplated in
paragraph (i)&nbsp;are delivered to the Agents and the Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Expenditures</U> &#150; amounts paid or Debt incurred by the
Borrowers or any of their Subsidiaries in connection with (i)&nbsp;the purchase or lease by the Borrowers or any of their Subsidiaries of Capital Assets that would be required to be capitalized and shown on the balance sheet of such Person in
accordance with GAAP or (ii)&nbsp;the lease of any assets by the Borrowers or any of their Subsidiaries as lessee under any synthetic lease to the extent that such assets would have been Capital Assets had the synthetic lease been treated for
accounting purposes as a Capital Lease </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Lease</U> &#150; any lease that is required to be capitalized for financial reporting
purposes in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Capital Stock</U> &#150; (a)&nbsp;in the case of a corporation, corporate stock; (b)&nbsp;in the
case of an association or other business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (c)&nbsp;in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited); and (d)&nbsp;any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateral</U> &#150; cash, and any interest or other income earned thereon, that is delivered to the Administrative Agent to Cash
Collateralize any Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateral Account</U> &#150; a demand deposit, money market or other account established by the
Administrative Agent at such financial institution as the Administrative Agent may select in its discretion, which account shall be subject to the Administrative Agent&#146;s perfected Liens for the benefit of the Secured Parties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Collateralize</U> &#150; the delivery of cash to the Administrative Agent, as security
for the payment of Obligations, in an amount equal to, with respect to any inchoate, contingent or other Obligations, the Administrative Agent&#146;s good faith estimate of the amount due or to become due, including all fees and other amounts
relating to such Obligations. &#147;<U>Cash Collateralization</U>&#148; has a correlative meaning. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cash Equivalents</U> &#150;
(a)&nbsp;marketable obligations issued or unconditionally guaranteed by, and backed by the full faith and credit of, the United States government or issued by any agency of the United States the obligations of which are backed by the full faith and
credit of the United States, in each case maturing within 12 months of the date of acquisition; (b)&nbsp;marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public
instrumentality thereof, in each case maturing within 12 months after such date and having, at the time of acquisition thereof, a rating of at least A-1 from S&amp;P or at least P-1 from Moody&#146;s; (c)&nbsp;certificates of deposit, time deposits
and bankers&#146; acceptances maturing within 12 months of the date of acquisition, and overnight bank deposits, in each case which are issued by a commercial bank organized under (i)&nbsp;the laws of the United States or any state or district
thereof or (ii)&nbsp;the laws of Canada or any province or territory thereof, in each case, rated A-1 (or better) by S&amp;P or P-1 (or better) by Moody&#146;s at the time of acquisition; (d)&nbsp;repurchase obligations with a term of not more than
30 days for underlying investments of the types described in clauses (a)&nbsp;and (b)&nbsp;and (c)&nbsp;entered into with any bank meeting the qualifications specified in clause (c); (e)&nbsp;commercial paper rated A-1 (or better) by S&amp;P or P-1
(or better) by Moody&#146;s, and maturing within twelve months of the date of acquisition; and (f)&nbsp;shares of any money market fund that has substantially all of its assets invested continuously in the types of investments referred to above, has
net assets of at least $500,000,000 and has the highest rating obtainable from either Moody&#146;s or S&amp;P. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CERCLA</U> &#150; the
Comprehensive Environmental Response Compensation and Liability Act (42&nbsp;U.S.C. &#167; 9601 <U>et</U> <U>seq</U>.). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CGS Canada</U>
&#150; Cash, Gold&nbsp;&amp; Silver Inc. &#150; Or et Argent, Comptant Inc., a corporation incorporated under the laws of Canada. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Change of Control</U> &#150; at any time, the occurrence of one or more of the following events: (i)&nbsp;Birks shall cease to own directly
or indirectly (A)&nbsp;at least fifty-one percent (51%)&nbsp;of the issued and outstanding Voting Stock of Mayor&#146;s or (B)&nbsp;all of the economic and voting rights associated with all of the outstanding Capital Stock of any of its other
Subsidiaries (other than Subsidiaries of Mayor&#146;s, as to which clause (iii)&nbsp;below shall govern), (ii)&nbsp;Montrovest B.V. shall cease to own directly or indirectly at least fifty-one percent (51%)&nbsp;of the votes attaching to the Voting
Stock of Birks, (iii)&nbsp;Mayor&#146;s shall cease to own directly or indirectly all of the economic and voting rights associated with all of the outstanding Capital Stock of any of its Subsidiaries or (iv)&nbsp;a &#147;Change of Control&#148;
shall have occurred under the Revolving Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Chattel Paper</U> &#150; as defined in the UCC or the PPSA, as applicable.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Civil Code of Qu&eacute;bec</U> &#150; the Civil Code of Qu&eacute;bec as in effect from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Claims</U> &#150; as defined in <B>Section 14.2</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Code</U> &#150; the Internal Revenue Code of 1986. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Collateral</U> &#150; all Property described in <B>Section&nbsp;7.1</B>, all Property described in any Security Document as security for
any Obligations, and all other Property that now or hereafter secures (or is intended to secure) any Obligations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Collateral Agent</U> &#150; Crystal Financial LLC in its capacity as Collateral Agent, or any
successor Collateral Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Collateral Value Report</U> &#150; as defined in <B>Section&nbsp;10.1.1(b)</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Combined Loan Cap</U> &#150; the sum of the &#147;Commitments&#148; (as defined in the Revolving Credit Agreement) <U>plus</U> the Total
Outstandings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Combined Total Outstandings</U> &#150; the sum of (i)&nbsp;the &#147;Total Revolver Outstandings&#148; (as defined in
the Revolving Credit Agreement) <U>plus</U> (ii)&nbsp;the Total Outstandings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commercial Tort Claim</U> &#150; as defined in the UCC.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commitment Fee</U> &#150; as defined in <B>Section&nbsp;3.2.2</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Commitments</U> &#150; as to each Lender, the amount set forth opposite such Lender&#146;s name on <B>Schedule 1.1(a)</B>, representing
such Lender&#146;s obligation, upon and subject to the terms and conditions of this Agreement (including the applicable provisions of <B>Section&nbsp;13</B>), to make its share of the Term Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Compliance Certificate</U> &#150; a certificate, substantially in the form of <B>Exhibit D</B> hereto or such other form approved by the
Agents, by which the Borrowers certify, among other things, the absence of Defaults or Events of Default or, to the extent either exist, describing the nature of such Default or Event of Default and the Borrowers&#146; plan to address such Default
or Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Concentration Accounts</U> &#150; collectively, the US Concentration Account and the Canadian Concentration
Accounts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated or consolidated</U> &#150; with reference to any term defined herein, shall mean that term as applied to the
accounts of the Borrowers and their Subsidiaries, consolidated in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated EBITDA</U> &#150; with respect to
any fiscal period, an amount equal to the sum of (a)&nbsp;Consolidated Net Income of the Borrowers and their Subsidiaries for such fiscal period, plus (b)&nbsp;in each case to the extent deducted in the calculation of such Persons&#146; Consolidated
Net Income and without duplication, (i)&nbsp;depreciation and amortization for such period, plus (ii)&nbsp;income tax expense for such period, plus (iii)&nbsp;Consolidated Total Interest Expense paid or accrued during such period, plus
(iv)&nbsp;other non-cash charges for such period, plus (v)&nbsp;extraordinary one-time charges related to severance and recruitment, relocation, temporary position redundancy, restructuring, the Tamarac lease termination, training and associated
travel, as well as related consulting and legal fees and costs (the &#147;<U>Permitted Extraordinary Addbacks</U>&#148;), in amounts not to exceed the amounts set forth in the table below for the applicable periods, all as determined in accordance
with GAAP. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B>Applicable Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Permitted<BR>Extraordinary&nbsp;Addback</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9-month period ending December&nbsp;31, 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,917,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10-month period ending January&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,719,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11-month period ending February&nbsp;28, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,012,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B>Applicable Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Permitted<BR>Extraordinary&nbsp;Addback</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending March&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,631,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending April&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,393,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending May&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,843,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending June&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,559,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending July&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,440,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending August 31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,240,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending September&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,817,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending October&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,780,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending November&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,732,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending December&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,695,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending January&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,125,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending February&nbsp;28, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,904,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending March&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,285,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending April&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,285,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending May&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,285,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending June&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending July&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending August&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending September&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending October&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending November&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="17%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B>Applicable Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Permitted<BR>Extraordinary&nbsp;Addback</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending December&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending January&nbsp;31, 2017 and each 12-month period ending thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Fixed Charges</U> &#150; for any period of the Borrowers and their Subsidiaries, determined on
a Consolidated basis, without duplication, the sum of (a)&nbsp;Consolidated Total Interest Expense accrued during such period, plus (b)&nbsp;all payments of principal made or required to be made with respect to Debt (other than (i)&nbsp;Revolving
Loan Debt to the extent such payments do not permanently reduce the &#147;Commitments&#148; (as defined in the Revolving Credit Agreement), and (ii)&nbsp;Management Debt to the extent such payments constitute an expense in the calculation of
Consolidated Net Income) during such period, plus (c)&nbsp;to the extent not constituting Debt, all Restricted Junior Payments made or required to be made in cash during such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Net Income (or Deficit)</U> &#150; the consolidated net income (or deficit) of the Borrowers and their Subsidiaries, after
deduction of all expenses, Taxes, and other proper charges, determined in accordance with GAAP, after eliminating therefrom all extraordinary non-recurring items of income. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Consolidated Total Interest Expense</U> &#150; for any period, the aggregate amount of interest required to be paid or accrued by the
Borrowers and their Subsidiaries during such period on all Debt of the Borrowers and their Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or capitalized,
including payments consisting of interest in respect of any Capital Lease or any synthetic lease, and including commitment fees, agency fees, amendment fees, facility fees, balance deficiency fees and similar fees or expenses in connection with the
borrowing of money, but excluding amortization of closing fees and expenses, fees and expenses relating to collateral examinations and appraisals and normal ordinary course account maintenance fees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Contingent Obligation</U> &#150; any obligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance
of any Debt, lease, dividend or other obligation (&#147;<U>primary obligations</U>&#148;) of another obligor (&#147;<U>primary obligor</U>&#148;) in any manner, whether directly or indirectly, including any obligation of such Person under any
(a)&nbsp;guaranty, endorsement, co-making or sale with recourse of an obligation of a primary obligor; (b)&nbsp;obligation to make take-or-pay or similar payments regardless of nonperformance by any other party to an agreement; and
(c)&nbsp;arrangement (i)&nbsp;to purchase any primary obligation or security therefor, (ii)&nbsp;to supply funds for the purchase or payment of any primary obligation, (iii)&nbsp;to maintain or assure working capital, equity capital, net worth or
solvency of the primary obligor, (iv)&nbsp;to purchase Property or services for the purpose of assuring the ability of the primary obligor to perform a primary obligation, or (v)&nbsp;otherwise to assure or hold harmless the holder of any primary
obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the primary obligation (or, if less, the maximum amount for which such Person may be liable under the
instrument evidencing the Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Contractual Obligation</U> &#150; as applied to any Person, any provision of any security issued by that Person or of any indenture,
mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Control Agent</U> &#150; as defined in the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Cost</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Credit Card Agreement</U> &#150; as defined in <B>Section&nbsp;6.1(p)</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>CWA</U> &#150; the Clean Water Act (33 U.S.C. &#167;&#167; 1251 et seq.). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani</U> &#150; Damiani International B.V. and its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Debt</U> &#150; all Debt owing to Damiani and its Affiliates under the Damiani Debt Documents (including, without limitation, Debt
relating to consigned property delivered by Damiani to a Loan Party) and permitted pursuant to <B>Section&nbsp;10.2.1</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani
Debt Documents</U> &#150; collectively, (i)&nbsp;the Damiani Distribution Agreement, (ii)&nbsp;the Damiani Security Agreements and (iii)&nbsp;any other security agreement or other agreement, document or instrument entered into by and among the Loan
Parties and Damiani (for itself and on behalf of its Affiliates) in connection with the Damiani Distribution Agreement and/or the Damiani Security Agreements, provided that any such other security agreement, other agreement, document or instrument
shall be subject to a Subordination Agreement in form, scope and substance satisfactory to the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Distribution
Agreement</U> &#150; that certain Distribution Agreement dated as of September&nbsp;26, 2009, by and among the Borrowers (for themselves and on behalf of the other Loan Parties) and Damiani (for itself and on behalf of its Affiliates), as amended by
the renewed and amended Distribution Agreement dated as of October&nbsp;3, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Security Agreements</U> &#150; collectively,
(i)&nbsp;the Security Agreement (U.S. Form &#150; Blanket Lien on Assets) dated as of October&nbsp;29, 2009 by and among the US Borrower and certain of its Subsidiaries and Damiani (for itself and on behalf of its Affiliates), and (ii)&nbsp;the
General Security Agreement and Hypothec dated as of October&nbsp;29, 2009 by and between the Canadian Borrower and Damiani (for itself and on behalf of its Affiliates). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Damiani Subordination Agreement</U> &#150; the Subordination Agreement dated as of October&nbsp;29, 2009, by and among the Loan Parties,
Damiani (for itself and on behalf of its Affiliates), the Administrative Agent, the Revolving Agent and the Canadian Revolving Agent, as the same may hereafter be amended, restated, supplemented or otherwise modified with the consent of the Agents.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Debt</U> &#150; as applied to any Person, without duplication, whether or not included as indebtedness or liabilities in accordance
with GAAP (a)&nbsp;all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments whether or not representing obligations for borrowed money;
(b)&nbsp;all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers&#146; acceptances, bank guaranties, surety bonds and similar instruments; (c)&nbsp;net obligations of such
Person under any Hedging Agreement; (d)&nbsp;all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business that are not more than 90 days past due);
(e)&nbsp;indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such
indebtedness shall have been assumed by such Person or is limited in recourse; (f)&nbsp;Capital Leases and synthetic lease obligations; (g)&nbsp;all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in
respect of any equity interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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at the greater of its voluntary or involuntary liquidation preference <U>plus</U> accrued and unpaid dividends; and (h)&nbsp;all Contingent Obligations of such Person in respect of any of the
foregoing. For all purposes hereof, (i)&nbsp;the Debt of any Person shall include the Debt of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general
partner or a joint venturer, unless such Debt is expressly made non-recourse to such Person, and (ii)&nbsp;the Damiani Debt constitutes Debt hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Default</U> &#150; (a)&nbsp;an Event of Default or (b)&nbsp;any event or condition that, with the lapse of time or giving of notice, would
constitute an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Default Rate</U> &#150; for any Obligation (including, to the extent permitted by law, interest not
paid when due), 3.50&nbsp;% <U>plus</U> the interest rate otherwise applicable thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Defaulting Lender</U> &#150; as defined in
<B>Section 4.2.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account</U> &#150; as defined in the UCC. The term &#147;Deposit Account&#148; shall include, for the
avoidance of doubt, any Concentration Account and any Dominion Account. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account Bank</U> &#150; any financial institution
selected or approved by the Administrative Agent in its sole discretion exercised reasonably. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Deposit Account Control Agreement</U>
&#150; a letter agreement, in form and substance reasonably acceptable to the Administrative Agent, executed by the relevant Loan Party, the &#147;Applicable Agent&#148; (as defined in the Revolving Credit Agreement), the Administrative Agent, the
relevant Deposit Account Bank and any other party thereto (if any). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Document</U> &#150; as defined in the UCC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dollar Equivalent</U><I> &#150; </I>of any amount means, at the time of determination thereof, (a)&nbsp;if such amount is expressed in
Dollars, such amount and (b)&nbsp;if such amount is denominated in any other currency, the equivalent of such amount in Dollars as determined by the Administrative Agent using the published spot rate as quoted by Bank of America or its branches or
Affiliates to customers generally as its noon spot rate at which such currency is offered on such day for Dollars. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dollars or $</U>
&#150; lawful money of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Domestic Subsidiary</U> &#150; any Subsidiary that is organized under the laws of any
political subdivision of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Dominion Account</U> &#150; a Deposit Account subject to a Deposit Account Control
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Early Termination Fee</U> &#150; as defined in <B>Section&nbsp;3.2.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Assignee</U> &#150; a Person that is (a)&nbsp;a Lender, an Affiliate of a Lender or Approved Fund; and (b)&nbsp;any other
financial institution or any other Person having assets in excess of $250,000,000.00 and approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed); <U>provided</U> <U>that</U> notwithstanding the foregoing,
&#147;Eligible Assignee&#148; shall not include (i)&nbsp;any Loan Party or any Affiliate or Subsidiary of any Loan Party, or (ii)&nbsp;a natural person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Inventory</U> &#150; as defined in the Revolving Credit Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Inventory Category</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Major Credit Card Receivables</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Eligible Private Label and Corporate Accounts</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Employee Benefit Plan</U> &#150; any employee benefit plan within the meaning of &#167;3(3) of ERISA maintained or contributed to by the
Borrowers or any ERISA Affiliate, other than a Guaranteed Pension Plan or a Multiemployer Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Enforcement Action</U> &#150; any
rightful action to enforce any Obligations or Loan Documents or to realize upon any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, or otherwise). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Agreement</U> &#150; each agreement of the Loan Parties with respect to any Real Estate subject to a Mortgage, pursuant to
which the Loan Parties agree to indemnify and hold harmless the Agents and the Lenders from liability under any Environmental Laws, except for liability caused by any actions of the Agents or the Lenders which are in violation of the Environmental
Laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I><U>Environmental Laws</U> &#150; all Applicable Laws (including all programs, permits and guidance promulgated by regulatory
agencies), relating to public health (but excluding occupational safety and health, to the extent regulated by OSHA) or the protection or pollution of the environment, including CERCLA, RCRA, CWA, the <I>Canadian Environmental Protection Act</I>,
1999, the <I>Environment Quality Act</I> (Quebec) and the <I>Conservation Authorities Act</I> (Ontario).<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental
Notice</U> &#150; a notice (whether written or oral) from any Governmental Authority or other Person of any possible noncompliance with, investigation of a possible violation of, litigation relating to, or potential fine or liability under any
Environmental Law, or with respect to any Environmental Release, environmental pollution or hazardous materials, including any complaint, summons, citation, order, claim, demand or request for correction, remediation or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Environmental Release</U> &#150; a release as defined in CERCLA or under any other Environmental Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Equipment</U> &#150; as defined in the UCC or the PPSA, as applicable, including all machinery, apparatus, equipment, fittings, furniture,
fixtures, motor vehicles and other tangible personal Property (other than Inventory), and all parts, accessories and special tools therefor, and accessions thereto and, in any event, including all such Person&#146;s machinery and equipment,
including processing equipment, conveyors, machine tools, data processing and computer equipment including embedded software and peripheral equipment and all engineering, processing and manufacturing equipment, office machinery, furniture, materials
handling equipment, tools, attachments, accessories, automotive equipment, trailers, trucks, forklifts, molds, dies, stamps, motor vehicles, rolling stock and other equipment of every kind and nature, trade fixtures and fixtures not forming a part
of real property, together with all additions and accessions thereto, replacements therefor, all parts therefor, all substitutes for any of the foregoing, fuel therefor, and all manuals, drawings, instructions, warranties and rights with respect
thereto, and all products and proceeds thereof and condemnation awards and insurance proceeds with respect thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA</U> &#150;
the Employee Retirement Income Security Act of 1974, as amended and in effect from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA Affiliate</U> &#150; any Person which is treated as a single employer with the Borrowers
under &#167;414(b), (c), (m)&nbsp;and (o)&nbsp;of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>ERISA Reportable Event</U> &#150; a reportable event with respect to a
Guaranteed Pension Plan within the meaning of &#167;4043 of ERISA and the regulations promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Event of Default</U>
&#150; as defined in<B> Section&nbsp;11</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Excluded Subsidiaries</U> &#150; the Persons listed on <B>Schedule 1.1(b) </B>hereto. For
purposes of this Agreement, the Excluded Subsidiaries shall be deemed to be Affiliates of the Loan Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Excluded Taxes</U> &#150;
any of the following taxes imposed on or with respect to the Administrative Agent or any Lender or required to be withheld or deducted from a payment to the Administrative Agent or any Lender, (a)&nbsp;taxes, levies, imposts, deductions, charges or
withholdings, including interest, penalties or additions thereto, and all related liabilities, imposed on or measured by net income or net profits of the relevant Lender or Agent, capital taxes, or franchise taxes imposed pursuant to the laws of
Canada (including any province or territory thereof), the United States of America or by the jurisdiction under the laws of which the Lender or Agent is organized, in which such person is resident for tax purposes, or in which the principal office
or applicable lending office of such Lender or such Agent is located or in which it is otherwise deemed to be engaged in a trade or business for tax purposes (other than as a result of such Lender or Agent having executed, delivered, become a party
to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any transaction pursuant to, or enforced any Loan Document, or sold or assigned an interest in any Obligation or Loan Document)
or any subdivision thereof or therein, (b)&nbsp;any branch profits taxes imposed by the United States of America or any similar tax imposed by any jurisdiction on any lender or on any Agent, (c)&nbsp;any U.S. federal withholding tax imposed on
amounts payable to or for the account of a Lender with respect to an applicable interest in the Term Loan or Commitment pursuant to a law in effect on the date on which (i)&nbsp;such Lender acquires such interest in the Term Loan or Commitment
(other than pursuant to an assignment request by the Borrower under Section&nbsp;3.11) or (ii)&nbsp;such Lender changes its lending office, except in each case to the extent that, pursuant to Section&nbsp;5.8, amounts with respect to such Taxes were
payable either to such Lender&#146;s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office and (d)&nbsp;any U.S. federal withholding tax imposed under FATCA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Exempt Deposit Accounts</U> &#150; a depository account maintained by any of the Borrowers, the only contents of which may be transfers
from its operating account and actually used solely (a)&nbsp;for petty cash purposes; or (b)&nbsp;for payroll, payroll Taxes and deductions and other employee wages and benefit payments to or for the benefit of the Borrowers&#146; salaried and
hourly employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Extraordinary Expenses</U> &#150; all reasonable costs, expenses or advances that any Agent or any Lender may incur,
whether prior to or during an Insolvency Proceeding of a Loan Party, including those relating to (a)&nbsp;any audit, inspection, repossession, storage, repair, appraisal, insurance, manufacture, preparation or advertising for sale, sale, collection,
or other preservation of or realization upon any Collateral; (b)&nbsp;any action, arbitration or other proceeding (whether instituted by or against any Agent, any Lender, any Loan Party, any representative of creditors of a Loan Party or any other
Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability of the Administrative Agent&#146;s Liens with respect to any Collateral), Loan Documents or Obligations, including any lender liability or
other Claims; (c)&nbsp;the exercise, protection or enforcement of any rights or remedies of any Agent or any Lender in, or the monitoring of, any Insolvency Proceeding; (d)&nbsp;settlement or satisfaction of any taxes, charges or Liens with respect
to any Collateral; (e)&nbsp;any Enforcement Action; (f)&nbsp;negotiation and documentation of any amendment, modification, waiver, workout, restructuring or forbearance with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
respect to any Loan Documents or Obligations; or (g)&nbsp;Protective Advances. Such costs, expenses and advances include transfer fees, taxes, storage fees, insurance costs, permit fees, utility
reservation and standby fees, legal fees, appraisal fees, brokers&#146; fees and commissions, auctioneers&#146; fees and commissions, accountants&#146; fees, environmental study fees, wages and salaries paid to employees of any Loan Party or
independent contractors in liquidating any Collateral, and travel expenses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>FATCA</U> &#150; Sections 1471 through 1474 of the Code,
as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fiscal Quarter</U> &#150; each of the three month periods ending on the last Saturday of each of March, June, September and December of any
year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fiscal Year</U> &#150; the twelve month period ending on the last Saturday of March of any year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fixed Charge Coverage Ratio</U> &#150; as at any date of determination, the ratio of (a)&nbsp;Consolidated EBITDA for the period of four
consecutive Fiscal Quarters ending on such date, <U>minus</U> payments made in cash during such period in respect of Capital Expenditures incurred during such period or any previous period (other than that portion of such Capital Expenditures
financed by lenders other than the Revolving Lenders), <U>minus</U> income taxes paid in cash with respect to such period to (b)&nbsp;Consolidated Fixed Charges for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Fixtures</U> &#150; as such term is defined in the UCC, now owned or hereafter acquired by any Loan Party located at a parcel of Real
Estate subject to a Mortgage. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>FLSA</U> &#150; the Fair Labor Standards Act of 1938 and <I>An Act Respecting Labour Standards</I>
(Quebec). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Foreign Lender</U> &#150; with respect to the US Borrower, a Lender to such Borrower that is organized under the laws of a
jurisdiction other than a state of the United States or the District of Columbia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I><U>FSCO</U> &#150; the Financial Services
Commission of Ontario and any Person succeeding to the functions thereof and includes the Superintendent under such statute and any other Governmental Authority empowered or created by the <I>Supplemental Pension Plans Act </I>(Qu&eacute;bec) or the
<I>Pension Benefits Act </I>(Ontario) or any Governmental Authority of any other Canadian jurisdiction exercising similar functions in respect of any Canadian Plan of any Loan Party or any Subsidiary or Affiliate of a Loan Party and any Governmental
Authority succeeding to the functions thereof.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Full Payment</U> &#150; with respect to any Obligations, (a)&nbsp;the full and
indefeasible cash payment thereof, including any interest, fees, expenses and other charges accruing during an Insolvency Proceeding (whether or not allowed in the proceeding); (b)&nbsp;if such Obligations are inchoate or contingent in nature, Cash
Collateralization thereof; and (c)&nbsp;a release of any Claims of the Loan Parties against the Agents and the Lenders arising on or before the payment date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>GAAP</U> &#150; generally accepted accounting principles in the United States in effect from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>General Intangibles</U> &#150; as defined in the UCC, and &#147;Intangibles&#148;, as defined in the PPSA, as applicable, in each case
including choses in action, causes of action, company or other business records, inventions, blueprints, designs, patents, patent applications, trademarks, trademark applications, trade names, trade secrets, service marks, goodwill, brand names,
copyrights, registrations, licenses, franchises, customer lists, permits, tax refund claims, computer programs, operational manuals, internet addresses and domain names, insurance refunds and premium rebates, all rights to indemnification, and all
other intangible Property of any kind. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>General Security Agreement</U> &#150; the General Security Agreement by each Canadian Loan
Party in favor of the Administrative Agent, for the benefit of the Secured Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Goods</U> &#150; as defined in the UCC or the
PPSA, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Governmental Approvals</U> &#150; all authorizations, consents, approvals, licenses and exemptions of,
registrations and filings with, and required reports to, all Governmental Authorities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Governmental Authority</U> &#150; any federal,
state, provincial, territorial, municipal, foreign or other governmental department, agency, commission, board, bureau, court, tribunal, instrumentality, political subdivision, or other entity or officer exercising executive, legislative, judicial,
regulatory or administrative functions for or pertaining to any government or court, in each case whether associated with the United States, a state, district or territory thereof, Canada, a province or territory thereof, or a foreign entity or
government. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed Obligations</U> &#150; as defined in <B>Section&nbsp;7.7.1(a)</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranteed Pension Plan</U> &#150; any employee pension benefit plan within the meaning of &#167;3(2) of ERISA maintained or contributed to
by the Borrowers or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guarantors</U> &#150; each Borrower as set forth in <B>Section&nbsp;7.7</B> and each Subsidiary of a Borrower that has executed a Guaranty.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Guaranty</U> &#150; collectively, each guaranty of all or any portion of the Obligations executed by a Guarantor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Hedging Agreement</U> &#150; an agreement relating to any swap, cap, floor, collar, option, forward, cross right or obligation, or
combination thereof or similar transaction, with respect to interest rate, foreign exchange, currency, commodity, credit or equity risk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Indemnified Taxes</U> &#150; (a)&nbsp;Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of
any obligation of any Loan Party under any Loan Document and (b)&nbsp;to the extent not otherwise described in (a), Other Taxes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Indemnitees</U> &#150; the Agent Indemnitees and the Lender Indemnitees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Initial Loan Agreement</U> &#150; as defined in the recitals hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Insolvency Proceeding</U> &#150; any case or proceeding commenced by or against a Person under any state, provincial, territorial, federal
or foreign law for, or any agreement of such Person to, (a)&nbsp;the entry of an order for relief under the Bankruptcy Code, any Canadian Debtor Relief Law, or any other insolvency, debtor relief or debt adjustment law; (b)&nbsp;the appointment of a
receiver, interim receiver, trustee, liquidator, administrator, conservator, monitor or other custodian for such Person or any part of its Property; or (c)&nbsp;an assignment or trust mortgage for the benefit of creditors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Instrument</U> &#150; as defined in the UCC or the PPSA, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intellectual Property</U> &#150; all intellectual and similar Property of a Person, including
inventions, designs, patents, patent applications, copyrights, trademarks, service marks, trade names, trade secrets, confidential or proprietary information, customer lists, know-how, software and databases; all embodiments or fixations thereof and
all related documentation, registrations and franchises; all books and records describing or used in connection with the foregoing; and all licenses or other rights to use any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intellectual Property Claim</U> &#150; any claim or assertion (whether in writing, by suit or otherwise) that any Loan Party&#146;s or any
Subsidiary&#146;s ownership, use, marketing, sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person&#146;s Intellectual Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intercompany Debt</U> &#150; unsecured Debt of any Loan Party owing to another Loan Party; <U>provided</U> that (i)&nbsp;all such Debt
shall be evidenced by promissory notes and all such notes shall be subject to a Lien in favor of the Administrative Agent pursuant to the Security Documents, (ii)&nbsp;all such Debt shall be unsecured and subordinated in right of payment to the Full
Payment of the Obligations pursuant to the terms of the applicable promissory notes or an intercompany subordination agreement that in each such case, is satisfactory to the Agents, and (iii)&nbsp;any payment by any such Loan Party to any other Loan
Party under any guaranty of the Obligations or otherwise shall result in a <I>pro tanto</I> reduction of the amount of any Debt owed by such Loan Party to such other Loan Party for whose benefit such payment is made; <U>provided</U>, <U>further</U>,
that under no circumstances shall any Debt owing by CGS Canada to any other Loan Party constitute Intercompany Debt hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Intercreditor Agreement</U> &#150; the Second Amended and Restated Intercreditor Agreement dated as of November&nbsp;21, 2014, by and among
the Administrative Agent, the Collateral Agent, the Revolving Agent and the Canadian Revolving Agent, and acknowledged by each Loan Party, as it may be amended, supplemented or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Interest Payment Date</U> &#150; the first (1st)&nbsp;day of each month commencing on the first day of the month immediately following the
Third Amendment Effective Date and continuing thereafter until the Maturity Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Interest Period</U> &#150; the one (1)&nbsp;month
period immediately preceding the Interest Payment Date relating thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Inventory</U> &#150; as defined in the UCC or the PPSA, as
applicable, including all goods intended for sale, lease, display or demonstration; all work in process; and all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing,
packing, shipping, advertising, sale, lease or furnishing of such goods, or otherwise used or consumed in such Person&#146;s business (but excluding Equipment). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Investment</U> &#150; any (a)&nbsp;acquisition of all or substantially all assets of, or any line of business or division of, a Person;
(b)&nbsp;acquisition of record or beneficial ownership of any Capital Stock of a Person; (c)&nbsp;loan, advance or capital contribution to, guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity
participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor guarantees Debt of such other Person, or (d)&nbsp;other investment in a Person.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Investment Property</U> &#150; as defined in the UCC or the PPSA, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I><U>ITA</U> &#150; the <I>Income Tax Act</I> (Canada), as the same may be amended from time to time, and any regulation promulgated
thereunder.<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Joint Venture</U><I> &#150; </I>a joint venture, partnership or other similar arrangement,
whether in corporate, partnership or other legal form; <U>provided</U> that in no event shall any Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>LC Event of Default</U> &#150; means (a)&nbsp;the liquidation of a substantial portion of the Collateral has occurred, (b)&nbsp;any action
by any Loan Party or any of their respective officers, directors, employees, affiliates, parent companies, agents or representatives has impeded the exercise of remedies of the Administrative Agent after an Event of Default or has impaired the value
of the Collateral, (c)&nbsp;any information contained in any Borrowing Base Certificate was untrue or incorrect in any material respect when made, (d)&nbsp;any Loan Party has failed to comply with <B>Section&nbsp;7.2</B> (&#147;Deposit Accounts;
Cash Collateral; Credit Card Agreements&#148;) hereof, (e)&nbsp;an Event of Default (and for the avoidance of doubt, other than pursuant to <B>Section&nbsp;7.2</B>, <B>Section&nbsp;11.1(b)(i)</B> (solely as it relates to a Borrowing Base
Certificate), <B>Section&nbsp;11.1(j)</B> hereof) has existed for a period of four (4)&nbsp;months; (f)&nbsp;an Event of Default pursuant to <B>Section&nbsp;11.1(j)</B> hereof has occurred; (g)&nbsp;a Montrovest LC Event has occurred, (h)&nbsp;the
Montrovest LC Issuer fails to maintain a credit rating of at least &#147;A-&#148; by S&amp;P or &#147;A3&#148; by Moody&#146;s, or (i)&nbsp;the occurrence of any other &#147;LC Event of Default&#148; as defined in the Revolving Credit Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lender Indemnitees</U> &#150; the Lenders and their officers, directors, employees, Affiliates, branches, agents, advisors and
attorneys. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lenders</U> &#150; as defined in the preamble to this Agreement, including any other Person who hereafter becomes a
&#147;Lender&#148; pursuant to the terms hereof. For the purposes of the Other Agreements and the Security Documents, &#147;Lenders&#148; means and is deemed to include the Secured Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Letter-of-Credit Right</U> &#150; as defined in the UCC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>License</U> &#150; any license or agreement under which a Loan Party is authorized to use Intellectual Property in connection with any
manufacture, marketing, distribution or disposition of Collateral, any use of Property or any other conduct of its business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Licensor</U> &#150; any Person from whom a Loan Party obtains the right to use any Intellectual Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien</U> &#150; any Person&#146;s interest in Property securing an obligation owed to, or a claim by, such Person, whether such interest is
based on common law, statute or contract, including liens, security interests, pledges, hypothecations, prior claims, rights of retention, statutory trusts, deemed trusts, reservations, exceptions, encroachments, easements, servitudes,
rights-of-way, covenants, conditions, restrictions, leases, leasings, conditional sales and other title exceptions and encumbrances affecting Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien Priority Agreement</U> &#150; an agreement, in form and substance reasonably satisfactory to the Administrative Agent, in respect of
any Collateral located in the province of Qu&eacute;bec, Canada on premises owned by a Person that is not a Loan Party (the &#147;<U>Owner</U>&#148;), to which Owner a Loan Party has granted a hypothec, which agreement shall provide, without
limitation, that such Owner waives or subordinates or cedes priority of preference and rank in any Lien it may have on any part of the Collateral in favor of the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Lien Waiver</U> &#150; an agreement, in form and substance reasonably satisfactory to the Administrative Agent, by which (a)&nbsp;for any
Collateral located on a leased or mortgaged premises, the lessor or mortgagee waives or subordinates any Lien it may have on the Collateral, and agrees to permit the Administrative Agent to gain access to and enter upon the premises and remove the
Collateral or to use the premises to store or dispose of the Collateral; (b)&nbsp;for any Collateral held by a warehouseman, processor, shipper, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
customs broker or freight forwarder, such Person waives or subordinates any Lien it may have on the Collateral, agrees to hold any Documents in its possession relating to the Collateral as agent
for the Administrative Agent, agrees to permit the Administrative Agent to gain access to and enter upon the premises and remove the Collateral or to use the premises to store or dispose of the Collateral and/or agrees to deliver the Collateral to
the Administrative Agent upon request; (c)&nbsp;for any Collateral held by a repairman, mechanic or bailee, such Person acknowledges the Administrative Agent&#146;s Lien, waives or subordinates any Lien it may have on the Collateral, and agrees to
deliver the Collateral to the Administrative Agent upon request; and (d)&nbsp;for any Collateral subject to a Licensor&#146;s Intellectual Property rights, the Licensor grants to the Administrative Agent the right, vis-&agrave;-vis such Licensor, to
enforce the Administrative Agent&#146;s Liens with respect to the Collateral, including the right to dispose of it with the benefit of the Intellectual Property, whether or not a default exists under any applicable License, in each case, to the
extent permitted by Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Account</U> &#150; the loan account established by each Lender on its books pursuant to
<B>Section&nbsp;5.7</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Documents</U> &#150; this Agreement, the Other Agreements and the Security Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan Party</U> &#150; each Borrower and each Guarantor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Loan to Value Reserve</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Agreement</U> &#150; that certain Amended and Restated Management Consulting Services Agreement, dated as of June&nbsp;8, 2011,
between the Canadian Borrower and Montrovest B.V., as the same may be amended from time to time in accordance with the terms hereof and the Management Subordination Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Debt</U> &#150; collectively, all obligations (including, without limitation, retainer fees and indemnification expenses) of the
Borrowers to Montrovest B.V. pursuant to the Management Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Management Subordination Agreement</U> &#150; that certain Amended
and Restated Management Subordination Agreement dated as of June&nbsp;8. 2011 among the Canadian Borrower, Montrovest B.V., the Canadian Revolving Agent, and GB Merchant Partners, LLC, as amended by the First Amendment to Amended and Restated
Management Subordinated Agreement dated as of June&nbsp;10, 2014, as the same may hereafter be further amended, restated, supplemented or otherwise modified with the consent of the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Margin Stock</U> &#150; as defined in Regulation U of the Board of Governors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Material Adverse Effect</U> &#150; the effect of any event or circumstance that, taken alone or in conjunction with other events or
circumstances, has or could be reasonably expected to have a material adverse effect on: (a)&nbsp;the business, operations, liabilities (actual or contingent), Properties, or condition (financial or otherwise) of the Loan Parties considered as a
whole, or the value of the Collateral, taken as a whole, the enforceability of any Loan Documents, or on the validity or priority of the Administrative Agent&#146;s Liens on any Collateral; (b)&nbsp;the ability of the Loan Parties taken as a whole
to perform any obligations under the Loan Documents, including repayment of any Obligations; (c)&nbsp;the rights and remedies of the Agents or the Lenders under the Loan Documents or the ability of any Agent or any Lender to enforce or collect the
Obligations or to realize upon the Collateral or (d)&nbsp;the legality, validity, binding effect or enforceability of any Loan Document against any Loan Parties which is a party to such Loan Document. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Material Contract</U> &#150; any agreement or arrangement to which any Loan Party or any of
its Subsidiaries is party (other than the Loan Documents) (a)&nbsp;for which breach, termination, nonperformance or failure to renew could reasonably be expected to have a Material Adverse Effect, or (b)&nbsp;that relates to Debt in an aggregate
amount of the Dollar Equivalent of $2,500,000 or more. Notwithstanding anything to the contrary contained in this Agreement, the term &#147;Material Contract&#148; shall include, for all purposes, each of the following: (i)&nbsp;the Revolving Loan
Documents (and any refinancings, renewals or extensions thereof), (ii)&nbsp;the Quebec Subordinated Debt Documents, (iii)&nbsp;the Rolex USA Documents and the Rolex Canada Documents, (iv)&nbsp;the Montrovest Debt Documents, (v)&nbsp;the Damiani Debt
Documents, and (vi)&nbsp;any Additional Subordinated Debt Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Maturity Date</U> &#150; August&nbsp;22, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Mayor&#146;s Florida</U> &#150; Mayor&#146;s Jewelers of Florida, Inc. (f/k/a Mayor&#146;s Jewelers, Inc.), a Florida corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Debt</U> &#150; all Debt owing to Montrovest B.V. under the Montrovest Debt Documents and permitted pursuant to <B>Sections
10.2.1(j) and 10.2.1(l)</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Debt Documents</U> &#150; collectively, (i)&nbsp;the Amended and Restated Cash Advance
Agreement dated as of June&nbsp;8, 2011 by and between the Canadian Borrower and Montrovest B.V., (ii)&nbsp;the Amended and Restated Cash Advance Agreement dated as of June&nbsp;8, 2011 by and between the Canadian Borrower and Montrovest B.V.,
(iii)&nbsp;the Subscription Agreement dated on or about August&nbsp;12, 2013 by and between the Canadian Borrower and Montrovest B.V., (iv)&nbsp;the Convertible Debenture to be dated on or about August&nbsp;16, 2013 in the principal sum of
$4,800,000 executed and delivered by the Canadian Borrower in favor of Montrovest B.V., and (v)&nbsp;any other loan agreement entered into by and between the Canadian Borrower and Montrovest B.V., provided that any such other loan agreement shall be
subject to a Subordination Agreement in form, scope and substance satisfactory to the Agents. For clarity, all obligations of the Borrowers to Montrovest as a result of the issuance of, or drawing under, the Montrovest LC shall be deemed to
constitute Montrovest Debt Documents, subject to the Montrovest Subordination Agreement, with the exception of $175,000 payable by the Borrowers to the issuer of the Montrovest LC, as well as Montrovest&#146;s reasonable and documented out-of-pocket
legal and other banking fees in connection with the issuance of the Montrovest LC (or as a reimbursement to Montrovest to the extent it paid any of such amounts). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC</U> &#150; the irrevocable standby letter of credit (No. WALI-A06158-1MON), provided by, and duly executed and delivered by,
the Montrovest LC Issuer in the amount of $5,000,000, for the benefit of the Revolving Credit Agents (subject to the Intercreditor Agreement), dated as of June&nbsp;6, 2014, as may be amended, restated, supplemented or otherwise modified with the
consent of the Administrative Agent and the Revolving Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC Effective Advance Rate</U> &#150; 100%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC Event</U> &#150; at any time: (a)&nbsp;the Montrovest LC is disaffirmed, disclaimed, repudiated, rejected, cancelled or
otherwise terminated, in whole or in part, or the validity of, the Montrovest LC is challenged; (b)&nbsp;the Montrovest LC fails or ceases to be in full force and effect; (c)&nbsp;the Montrovest LC fails to remain legal, valid, binding and
enforceable in accordance with its terms; (d)&nbsp;the failure of the Montrovest LC Issuer to renew the Montrovest LC at least sixty (60)&nbsp;days prior to its expiry; (e)&nbsp;the Montrovest LC fails to remain irrevocable; (f)&nbsp;the Montrovest
LC is amended or modified without the consent of Administrative Agent; or (g)&nbsp;the imposition of any Lien on the Montrovest LC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest LC Issuer</U> &#150; UBS AG, Stamford Branch. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Montrovest Subordination Agreement</U> &#150; collectively, (i)&nbsp;Section&nbsp;5.6 of the
Montrovest Debt Documents referred to in clauses (i)&nbsp;and (ii)&nbsp;of the definition of &#147;Montrovest Debt Documents&#148;, (ii)&nbsp;the Amended and Restated Postponement and Subordination Agreement, dated as of June&nbsp;8, 2011, among the
Canadian Borrower, Montrovest B.V., GB Merchant Partners, LLC and the Revolving Canadian Agent, as amended by the First Amendment to Amended and Restated Postponement and Subordination Agreement dated as of June&nbsp;10, 2014, and
(iii)&nbsp;Section&nbsp;3.1 of the Montrovest Debt Document referred to in clause (iv)&nbsp;of the definition of Montrovest Debt Documents, in each case as hereafter amended, restated, supplemented or otherwise modified with the consent of the
Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Moody&#146;s</U> &#150; Moody&#146;s Investors Service, Inc., and its successors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Mortgage</U> &#150; each mortgage, deed of trust, deed of hypothec, or deed to secure debt pursuant to which a Loan Party grants to the
Administrative Agent, for the benefit of the Secured Parties, Liens upon the Real Estate interests (fee, leasehold or otherwise) then held by any Loan Party, as security for the Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Multiemployer Plan</U> &#150; any multiemployer plan within the meaning of &#167;3(37) of ERISA maintained or contributed to by the
Borrowers or any ERISA Affiliate and subject to Title IV of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Non-Canadian Loan Party</U> &#150; any Loan Party that is not a
Canadian Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B><U>Notes</U> &#150; each promissory note executed by a Borrower to evidence any Obligations, including each
such promissory note in the form of <B>Exhibit A-1, Exhibit A-2 </B>and <B>Exhibit A-3</B>.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Obligations</U> &#150; all
(a)&nbsp;principal of and premium, if any, on the Term Loan, (b)&nbsp;interest, expenses, fees and other sums payable by the Loan Parties under the Loan Documents (including the Early Termination Fee), (c)&nbsp;obligations of the Loan Parties under
any indemnity for Claims, (d)&nbsp;Extraordinary Expenses, and (f)&nbsp;other Debts, obligations and liabilities of any kind owing by the Loan Parties pursuant to the Loan Documents, in each case, whether now existing or hereafter arising, whether
evidenced by a note or other writing, whether or not allowed in any Insolvency Proceeding, whether arising from a loan, guaranty, indemnification or otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or
secondary, or joint or several. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>OFAC</U> &#150; The Office of Foreign Assets Control of the U.S. Department of the Treasury. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Ordinary Course of Business</U> &#150; the ordinary course of business of the Borrowers, the Guarantors or any of their Subsidiaries,
consistent with past practices and undertaken in good faith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Organizational Documents</U> &#150; with respect to any Person, its
charter, certificate or articles of incorporation, bylaws, articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership agreement, certificate of partnership, certificate of
formation, voting trust agreement, or similar agreement or instrument governing the formation, organization or operation of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>OSHA</U> &#150; the Occupational Safety and Hazard Act of 1970. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Other Agreements</U> &#150; the Intercreditor Agreement, and each Note, Subordination Agreement, Related Real Estate Document, Borrowing
Base Certificate, Compliance Certificate, Montrovest LC, financial statement or report delivered hereunder, together with each other document, instrument or agreement (other than this Agreement or a Security Document) now or hereafter delivered by a
Loan Party or other Person to any Agent or any Lender in connection with any transactions relating hereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Other Taxes</U> &#150; all present or future stamp, or documentary taxes or any other excise
or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Participant</U> as defined in <B>Section 13.5</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Patriot Act</U> &#150; the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001, Pub. L. No.&nbsp;107-56, 115 Stat. 272 (2001). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Patent Security Agreement</U> &#150; the Patent Collateral Assignment and
Security Agreement among the Loan Parties and the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Payment Intangible</U> &#150; as defined in the UCC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Payment Item</U> &#150; cash and each check, draft, credit card slip, receipt, note, instrument and any other item of payment payable to a
Borrower, including those constituting proceeds of any Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>PBGC</U> &#150; the Pension Benefit Guaranty Corporation created by
Section&nbsp;4002 of ERISA and any successor entity or entities having similar responsibilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Pension Funding Rules</U> &#150; the
rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Guaranteed Pension Plans and set forth in, with respect to plan years ending prior to the effective date as to such Guaranteed
Pension Plan of the Pension Protection Act of 2006, &#167;412 of the Code and &#167;302 of ERISA each as in effect prior to the Pension Protection Act of 2006 and, thereafter, &#167;412 and &#167;430 of the Code and &#167;302 and &#167;303 of ERISA.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Permitted Lien</U> &#150; as defined in <B>Section&nbsp;10.2.2</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Permitted Store Closings</U> &#150; the closing of (i)&nbsp;five (5)&nbsp;retail locations of the Loan Parties in the aggregate in any
calendar year, and (ii)&nbsp;five (5)&nbsp;temporary retail locations, to the extent opened by the Loan Parties and closed within six (6)&nbsp;months of such opening, in the aggregate in any calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Person</U> &#150; any individual, corporation, limited or unlimited liability company, partnership, joint venture, joint stock company,
land trust, business trust, unincorporated organization, Governmental Authority or other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I><U>PPSA</U> &#150; the
<I>Personal Property Security Act</I> (Ontario) (or any successor statute) or similar legislation of any other Canadian jurisdiction, including, without limitation, the Civil Code of Qu&eacute;bec, the laws of which are required by such legislation
to be applied in connection with the issue, perfection, enforcement, opposability, enforceability, validity or effect of security interests or hypothecs.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Private Label Accounts</U> &#150; Accounts due on the Borrowers&#146; private label credit card programs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Properly Contested</U> &#150; with respect to any obligation of any Loan Party, (a)&nbsp;the obligation is subject to a bona fide dispute
regarding amount or such Loan Party&#146;s liability to pay; (b)&nbsp;the obligation is being properly contested in good faith by appropriate proceedings promptly instituted and diligently pursued; (c)&nbsp;appropriate reserves have been established
in accordance with GAAP; (d); no Lien is imposed on assets of such Loan Party, unless bonded and stayed to the satisfaction of the Agents; and (f)&nbsp;if the obligation results from entry of a judgment or other order, such judgment or order is
stayed pending appeal or other judicial review. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Property</U> &#150; any interest in any kind of property or asset, whether real, personal or
mixed, or tangible or intangible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Pro Rata</U> &#150; with respect to any Lender, (i)&nbsp;with respect to the portion of the Term
Loan made to the Canadian Borrower, a percentage (expressed as a decimal, rounded to the fourth decimal place) determined by dividing the amount of such Lender&#146;s share of such portion of the Term Loan then outstanding by the Total Outstandings
with respect to such portion of the Term Loan, (ii)&nbsp;with respect to the portion of the Term Loan made to the US Borrower, a percentage (expressed as a decimal, rounded to the fourth decimal place) determined by dividing the amount of such
Lender&#146;s share of such portion of the Term Loan then outstanding by the Total Outstandings with respect to such portion of the Term Loan, and (iii)&nbsp;with respect to the Term Loan, a percentage (expressed as a decimal, rounded to the fourth
decimal place) determined by dividing the amount of such Lender&#146;s share of the Term Loan then outstanding by the Total Outstandings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Protective Advance</U> &#150; as defined in <B>Section&nbsp;2.1.4</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordinated Debt</U> &#150; collectively, (i)&nbsp;all Debt owing to Investissement Qu&eacute;bec (successor in interest to La
Financi&egrave;re du Qu&eacute;bec by virtue of decree 315-2004) under the Quebec Subordinated Debt Documents in the original aggregate maximum principal amount of Cdn. $19,900,000, of which a balance in the aggregate principal amount not to exceed
Cdn. $11,375,000 remains outstanding as of the Third Amendment Effective Date, and subject to the Quebec Subordination Agreements and (ii)&nbsp;all other Debt owing to Investissement Qu&eacute;bec under the Quebec Subordinated Debt Documents or
otherwise, in each case, which Debt shall be expressly subordinate to Full Payment of the Obligations pursuant to the Quebec Subordination Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordinated Debt Documents</U> &#150; collectively, (i)&nbsp;that certain Offre de Pr&ecirc;t (Loan Offer) from Investissement
Qu&eacute;bec to the Canadian Borrower on October&nbsp;6, 2008, in respect of a term loan in the original maximum principal amount of Cdn. $2,900,000, and all security and other accessory documents or instruments thereto at any time, and subject at
all times to the Quebec Subordination Agreements, (ii)&nbsp;that certain Offre de Pr&ecirc;t (Loan Offer) from Investissement Qu&eacute;bec to the Canadian Borrower on February&nbsp;20, 2009, in respect of a term loan in the original maximum
principal amount of Cdn. $10,000,000, and all security and other accessory documents or instruments thereto at any time, and subject at all times to the Quebec Subordination Agreements, (iii)&nbsp;that certain Offre de Pr&ecirc;t (Loan Offer) from
Investissement Qu&eacute;bec to the Canadian Borrower on August&nbsp;30, 2013, in respect of a term loan in the original maximum principal amount of Cdn. $5,000,000, and all security and other accessory documents or instruments thereto at any time,
and subject at all times to the Quebec Subordination Agreements, (iv)&nbsp;that certain Offre de Pr&ecirc;t (Loan Offer) from Investissement Qu&eacute;bec to the Canadian Borrower on July&nbsp;25, 2014, in respect of a term loan in the original
maximum principal amount of Cdn. $2,000,000, and all security and other accessory documents or instruments thereto at any time, and subject at all times to the Quebec Subordination Agreements and (v)&nbsp;all other agreements, documents and
instruments evidencing all or any portion of the Quebec Subordinated Debt, and subject at all times to the Quebec Subordination Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Security Documents</U> &#150; a deed of hypothec and issue of debentures charging the universality of all present and future movable
property of the grantor thereunder, a debenture and a pledge of debenture agreement as contemplated by <B>Section&nbsp;12.1.1(c)</B> executed and delivered by any Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Quebec Subordination Agreements</U> &#150; collectively, (i)&nbsp;that certain Cession de Rang (Subordination) dated as of March&nbsp;5,
2009, by Investissement Qu&eacute;bec in favor of each of the Administrative Agent and the Revolving Agent, (ii)&nbsp;that certain Subordination and Postponement Agreement dated as of February&nbsp;19, 2009, by and among Investissement
Qu&eacute;bec, the Canadian Revolving </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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Agent, the Revolving Agent, the Administrative Agent and the Canadian Borrower, and (iii)&nbsp;any other subordination agreement entered into by Investissement Qu&eacute;bec in favor of each of
the Administrative Agent and the Revolving Agent in form and substance acceptable to the Administrative Agent, in each case as may hereafter be amended, restated, supplemented or otherwise modified with the consent of the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>RCRA</U> &#150; the Resource Conservation and Recovery Act (42 U.S.C. &#167;&#167; 6991-6991i). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Real Estate</U> &#150; all right, title and interest (whether as owner, lessor or lessee) in any real or immovable Property or any
buildings, structures, parking areas or other improvements thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Register</U> &#150; as defined in <B>Section 13.4</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Related Parties</U> &#150; with respect to any Person, such Person&#146;s Affiliates and branches and the partners, directors, officers,
employees, agents and advisors of such Person and of such Person&#146;s Affiliates and branches. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Related Real Estate Documents</U>
&#150; with respect to any Real Estate subject to a Mortgage entered into by any Loan Party, the following, in form and substance reasonably satisfactory to the Administrative Agent and, in the case of a Mortgage entered into by any Loan Party after
the date hereof, received by the Administrative Agent for review at least 15 days prior to the effective date of the Mortgage (or such shorter length of time acceptable to the Administrative Agent in its reasonable discretion): (a)&nbsp;a mortgagee
title policy (or binder therefor) covering the Administrative Agent&#146;s interest under the Mortgage, in a form and amount and by an insurer reasonably acceptable to the Agents, which must be fully paid on such effective date; (b)&nbsp;such
assignments of leases, rents, estoppel letters, attornment agreements, consents, waivers and releases as any Agent may require with respect to other Persons having an interest in the Real Estate; (c)&nbsp;if otherwise in the possession of a Loan
Party, a current, as-built survey of the Real Estate, containing a metes-and-bounds property description and flood plain certification, and certified by a licensed surveyor reasonably acceptable to the Agents; (d)&nbsp;flood insurance in an amount,
with endorsements and by an insurer reasonably acceptable to the Agents, if the Real Estate is within a flood plain; (e)&nbsp;a current appraisal of the Real Estate, prepared by an appraiser reasonably acceptable to the Agents; (f)&nbsp;a Phase I
(and to the extent appropriate, Phase II) environmental assessment report, prepared by an environmental consulting firm reasonably satisfactory to the Agents, and accompanied by such reports, certificates, studies or data as the Agents may
reasonably require, which shall all be in form and substance reasonably satisfactory to the Agents; and (g)&nbsp;an Environmental Agreement and such other documents, instruments or agreements as the Agents may reasonably require with respect to any
environmental risks regarding the Real Estate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Report</U> &#150; as defined in <B>Section 12.2.3</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Required Lenders</U> &#150; as of any date, (i)&nbsp;the Agents and (ii)&nbsp;Lenders (subject to <B>Section&nbsp;4.2 </B>but who may be
the Agents) whose Pro Rata share of the Term Loan constitutes at least fifty-one percent (51%)&nbsp;of the Total Outstandings. For purposes of this definition only, a Lender and all Approved Funds with respect to such Lender shall constitute a
single Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Restricted Junior Payment</U><I> &#150; </I>(i)&nbsp;any dividend or other distribution, direct or indirect, on account
of any shares of any class of Capital Stock of the Borrowers or any Subsidiary now or hereafter outstanding, except a dividend payable solely in shares of that class of Capital Stock to the holders of that class; (ii)&nbsp;any redemption,
retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of the Borrowers or any Subsidiary now or hereafter outstanding; (iii)&nbsp;any payment made to
retire, or to obtain the surrender of, any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
outstanding warrants, options or other rights to acquire shares of any class of Capital Stock of the Borrowers now or hereafter outstanding; (iv)&nbsp;any payment or prepayment of Debt by the
Loan Parties or their Subsidiaries to any Excluded Subsidiary; (v)&nbsp;any payment or prepayment of Debt by the Loan Parties or their Subsidiaries to the Loan Parties&#146; or any Subsidiary&#146;s shareholders (or other equity holders);
(vi)&nbsp;derivatives or other transactions with any financial institution, commodities or stock exchange or clearinghouse (a &#147;<U>Derivatives Counterparty</U>&#148;) obligating the Borrowers or any Subsidiary to make payments to such
Derivatives Counterparty as a result of any change in market value of any Capital Stock of the Borrowers or such Subsidiary; or (vii)&nbsp;any payments on account of management, consulting or similar fees or any success fees (including, without
limitation, the Management Debt) to (A)&nbsp;an equity holder of any Loan Party, which equity holder owns directly or indirectly at least fifty-one percent (51%)&nbsp;of the Voting Stock of such Loan Party (a &#147;<U>Majority Holder</U>&#148;),
(B)&nbsp;an Affiliate of any Loan Party, or (C)&nbsp;an Affiliate of any Majority Holder of a Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolver Excess
Availability</U> &#150; as defined in the Revolving Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Agent</U> &#150; the &#147;Administrative Agent&#148;,
as defined in the Revolving Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Borrowing Capacity</U> &#150; the &#147;Aggregate Revolver Borrowing
Capacity&#148;, as defined in the Revolving Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Credit Agreement</U> &#150; the Second Amended and Restated
Revolving Credit and Security Agreement dated as of June&nbsp;8, 2011, by and between, among others, the Borrowers party thereto from time to time, the Guarantors party thereto from time to time, the Revolving Lenders party thereto from time to
time, the Revolving Agent, and the Canadian Revolving Agent as amended by the First Amendment to Second Amended and Restated Revolving Credit and Security Agreement dated as of August&nbsp;22, 2013, the Second Amendment to Second Amended and
Restated Revolving Credit and Security Agreement dated as of May&nbsp;12, 2014, the Third Amendment to Second Amended and Restated Revolving Credit and Security Agreement dated as of June&nbsp;10, 2014, the Consent and Fourth Amendment to Second
Amended and Restated Revolving Credit and Security Agreement dated as of July&nbsp;25, 2014, as further amended on the date hereof and as further amended from time to time hereafter to the extent permitted hereunder and in accordance with the
Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Lenders</U> &#150; the agents and the lenders under the Revolving Credit Agreement and the other
Revolving Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Loans</U> &#150; the credit extensions (including, without limitation, the &#147;Loans&#148; (as
defined in the Revolving Credit Agreement) provided to the Borrowers by the Revolving Lenders under the Revolving Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Loan Debt</U> &#150; all &#147;Obligations&#148; (as defined in the Revolving Credit Agreement) owing to the Revolving Secured
Parties under the Revolving Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Loan Documents</U> &#150; the &#147;Loan Documents&#148; under and as defined in
the Revolving Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Revolving Secured Parties</U> &#150; the &#147;Secured Parties&#148;, as defined in the Revolving
Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Collateral</U> &#150; Collateral of any Canadian Loan Party consisting of Rolex, Tudor and Cellini
watches, watchbands, parts and other accessories now or hereafter sold by Rolex Canada Ltd. to such Canadian Loan Party, and all other new Rolex, Tudor and Cellini watches, watch bands, parts and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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other accessories hereinafter held by such Canadian Loan Party and all cash proceeds of any of the foregoing, including insurance proceeds (but specifically excluding accounts receivable),
together with all rights and property of every kind at any time in the possession or control of Rolex Canada Ltd., or any of its agents, or in transit to it, belonging to, for the account of, or subject to the order of such Canadian Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Documents</U> &#150; collectively, (i)&nbsp;the Official Rolex Jeweller Agreement dated as of March&nbsp;18, 2011 between
Rolex Canada Ltd. and the Canadian Borrower, and (ii)&nbsp;the Rolex Canada Security Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Liens</U> &#150; Liens on
the Rolex Canada Collateral granted in favor of Rolex Canada Ltd. pursuant to the Rolex Canada Security Agreement, to the extent that such Liens are junior and subordinate to the Liens securing the Obligations on terms and conditions satisfactory to
the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Security Agreement</U> &#150; collectively, all security agreements, if any, entered into between the
Canadian Borrower and Rolex Canada Ltd. pursuant to Section&nbsp;3.04 of the Rolex Canada Document described in clause (i)&nbsp;of the definition thereof, which security agreements shall be on terms and conditions satisfactory to the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex Canada Subordination Agreement</U> &#150; the subordination provisions of the Rolex Canada Security Agreement, which shall be on
terms and conditions satisfactory to the Agents, and affirmed by Rolex Canada Ltd. pursuant to an acknowledgement letter in form and substance satisfactory to the Agents, and addressed to the Administrative Agent from Rolex Canada Ltd. and
acknowledged by the Canadian Borrower, as the same may hereafter be amended, restated, supplemented or otherwise modified with the consent of the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Collateral</U> &#150; Collateral of any US Loan Party consisting of Rolex, Tudor and Cellini watches, watchbands, parts and other
accessories now or hereafter sold by Rolex Watch U.S.A., Inc. to such US Loan Party, and all other new Rolex, Tudor and Cellini watches, watch bands, parts and other accessories hereinafter held by such US Loan Party and all cash proceeds of any of
the foregoing, including insurance proceeds (but specifically excluding accounts receivable), together with all rights and property of every kind at any time in the possession or control of Rolex Watch U.S.A., Inc., or any of its agents, or in
transit to it, belonging to, for the account of, or subject to the order of such US Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Documents</U> &#150;
collectively, (i)&nbsp;the Rolex Store Sales Agreement and the Approved Location Sales Agreement, each dated as of August&nbsp;1, 2010 between Rolex Watch U.S.A., Inc. and Mayor&#146;s Florida (as amended and in effect on the Third Amendment
Effective Date), and (ii)&nbsp;the Rolex USA Security Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Liens</U> &#150; Liens on the Rolex USA Collateral granted
in favor of Rolex Watch U.S.A., Inc. pursuant to the Rolex USA Security Agreement, to the extent that such Liens are junior and subordinate to the Liens securing the Obligations on terms and conditions satisfactory to the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Security Agreement</U> &#150; that certain Security Agreement dated as of July&nbsp;29, 1998 between Mayor&#146;s Florida and
Rolex Watch U.S.A., Inc., as amended by Amendment No.&nbsp;1 to Security Agreement dated as of May&nbsp;22, 2002 and as further amended by Amendment No.&nbsp;2 to Security Agreement dated as of December&nbsp;17, 2008. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Rolex USA Subordination Agreement</U> &#150; Section&nbsp;9 of the Rolex USA Security Agreement, as affirmed by Rolex Watch U.S.A., Inc. on
December&nbsp;17, 2008 pursuant to an acknowledgment letter from Rolex Watch U.S.A., Inc. and acknowledged by Mayor&#146;s Florida, as the same may hereafter be amended, restated, supplemented or otherwise modified with the consent of the Agents.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>S&amp;P</U> &#150; Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of The
McGraw-Hill Companies, Inc., and its successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Sanctioned Entity</U> &#150; (a)&nbsp;a country or a government of a country,
(b)&nbsp;an agency of the government of a country, (c)&nbsp;an organization directly or indirectly controlled by a country or its government, (d)&nbsp;a Person resident in or determined to be resident in a country, in each case, that is subject to a
country sanctions program administered and enforced by OFAC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Sanctioned Person</U> &#150; a person named on the list of Specially
Designated Nationals maintained by OFAC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Sarbanes-Oxley</U> &#150; the Sarbanes-Oxley Act of 2002. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Seasonal Availability Block</U> &#150; as defined in the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Second Amended and Restated Loan Agreement &#150; as defined in the recitals hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Secured Parties</U> &#150; the Agents and the Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Security Documents</U> &#150; this Agreement, each Guaranty, the Trademark Assignments, the Patent Security Agreement, the Stock Pledge
Agreements, the Canadian Security Documents, and the Deposit Account Control Agreements, together with all security agreements, deeds of hypothec, pledge agreements, Mortgages or other collateral security agreements, instruments or documents
(including Lien Waivers and Lien Priority Agreements) entered into or to be entered into by any Person pursuant to which such Person grants or perfects a security interest in its assets to the Administrative Agent in order to secure any of the
Obligations, including, without limitation PPSA and UCC financing statements and certified statements issued by the Qu&eacute;bec Register of Personal and Movable Real Rights, required to be executed or delivered pursuant to any Security Document.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Senior Officer</U> &#150; the chairman of the board, president, chief executive officer, treasurer or chief financial officer of a
Borrower or, if the context requires, a Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Software</U> &#150; as defined in the UCC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Solvent</U> &#150; as to any Person, such Person (a)&nbsp;owns Property whose Fair Salable Value is greater than the amount required to pay
all of its debts (including contingent, subordinated, unmatured and unliquidated liabilities); (b)&nbsp;owns Property whose present Fair Salable Value (as defined below) is greater than the probable total liabilities (including contingent,
subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c)&nbsp;is able to pay all of its debts as they mature; (d)&nbsp;has capital that is not unreasonably small for its business and is sufficient
to carry on its business and transactions and all business and transactions in which it is about to engage; (e)&nbsp;is not &#147;insolvent&#148; within the meaning of Section&nbsp;101(32) of the Bankruptcy Code (or, with respect to the Canadian
Borrower or any Canadian Guarantor, is not an &#147;insolvent person&#148; within the meaning of the Bankruptcy and Insolvency Act (Canada)); and (f)&nbsp;has not incurred (by way of assumption or otherwise) any obligations or liabilities
(contingent or otherwise) under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. &#147;<U>Fair Salable
Value</U>&#148; means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but
under no compulsion) to purchase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Stock Pledge Agreements</U> &#150; collectively, (i)&nbsp;the Stock Pledge Agreement among the
US Loan Parties and the Administrative Agent, and (ii)&nbsp;the Pledge Agreement among the Canadian Loan Parties and the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subordinated Debt</U> &#150; collectively, the Management Debt, the Quebec Subordinated Debt, the Montrovest Debt, the Damiani Debt and any
Additional Subordinated Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subordination Agreements</U> &#150; collectively, the Management Subordination Agreement, the Rolex USA
Subordination Agreement, the Rolex Canada Subordination Agreement, the Quebec Subordination Agreements, the Montrovest Subordination Agreement, the Damiani Subordination Agreement and any other subordination agreement entered into by or among any
Loan Party, any subordinated creditor and the Administrative Agent in form, scope and substance satisfactory to the Agents, in each case as amended, restated, supplemented or otherwise modified with the consent of the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Subsidiary</U> &#150; of a Person means a corporation, partnership, joint venture, limited or unlimited liability company or other business
entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a
contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a
&#147;Subsidiary&#148; or to &#147;Subsidiaries&#148; shall refer to any Subsidiary or Subsidiaries of any Borrower. None of the Excluded Subsidiaries shall be a &#147;Subsidiary&#148; for purposes hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Supporting Obligation</U> &#150; as defined in the UCC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Taxes</U> &#150; any taxes, levies, imposts, duties, fees, assessments, deductions, withholdings (including backup withholdings) or other
charges of whatever nature, including income, receipts, excise, property, sales, harmonized sales, goods and services, use, transfer, license, payroll, withholding, social security, franchise, intangibles, mortgage, documentary, stamp or recording
taxes imposed by any Governmental Authority, and all interest, penalties and similar liabilities relating thereto. For greater certainty, but without limiting the foregoing, Taxes shall also include all Taxes imposed pursuant to Part XIII of the ITA
or any successor provisions thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan</U> &#150; as defined in <B>Section 2.1.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Borrowing Capacity</U> &#150; at any time, an amount equal to (a)&nbsp;the sum of (i)&nbsp;108.5% of the Appraised Inventory
Liquidation Value of each Eligible Inventory Category (it being acknowledged that the Administrative Agent has the right to deem all or a portion of any Inventory as ineligible that is located in a store for which the lease is expiring in less than
5 months, if in the Administrative Agent&#146;s reasonable discretion it determines that such store closure will adversely impact the Inventory appraisal on a pro forma basis); <U>plus</U> (ii)&nbsp;102.5% of the Appraised A/R Liquidation Value of
Eligible Private Label and Corporate Accounts; <U>plus</U> (iii)&nbsp;102.5% of the Eligible Major Credit Card Receivables; <U>plus</U> (iv)&nbsp;the Montrovest LC Effective Advance Rate multiplied by the then stated amount of the Montrovest LC
(provided however, that upon the occurrence of any Montrovest LC Event which is continuing (other than pursuant clause (d)&nbsp;thereunder), the stated amount of the Montrovest LC shall be deemed to be zero), <U>minus</U> (and without any other
duplication of Availability Reserves imposed by the Revolving Agent under the Revolving Credit Agreement) (b)&nbsp;the sum of (i)&nbsp;the Availability Reserves, (ii)&nbsp;the Availability Block, (iii)&nbsp;the Seasonal Availability Block and
(iv)&nbsp;the Capital Block. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term Loan Facility Amount</U> &#150; $33,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Termination Date</U> &#150; the earliest to occur of (i)&nbsp;the Maturity Date, (ii)&nbsp;the date on which the maturity of the Term Loan
is accelerated in accordance with <B>Section&nbsp;11.2</B>, (iii)&nbsp;the termination of the Revolving Credit Agreement, or (iv)&nbsp;the date of the occurrence of an Event of Default pursuant to <B>Section&nbsp;11.1(j)</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Third Amendment Effective Date</U> &#150; November&nbsp;21, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Total Outstandings</U> &#150; the aggregate principal balance of the Term Loan owing to all Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Trademark Assignments</U> &#150; the several Trademark Collateral Security and Pledge Agreements made by the Borrowers and their
Subsidiaries in favor of the Administrative Agent and the Assignments of Trademarks and Service Marks executed in connection therewith, all in form and substance satisfactory to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Tranche A Term Loan</U> &#150; as defined in <B>Section&nbsp;2.1.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Tranche B Canadian Term Loan</U> &#150; as defined in <B>Section&nbsp;2.1.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Tranche B Term Loan</U> &#150; as defined in <B>Section&nbsp;2.1.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Tranche B U.S. Term Loan</U> &#150; as defined in <B>Section&nbsp;2.1.1</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Transferee</U> &#150; any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>UCC</U> &#150; the Uniform Commercial Code as in effect in the State of New York or, when the laws of any other jurisdiction govern the
perfection or enforcement of any Lien, the Uniform Commercial Code or other Applicable Law of such jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Borrower</U>
&#150; as defined in the preamble hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Concentration Account</U> &#150; a special concentration account established by the US
Borrower with the Revolving Agent, subject to the control of the Control Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Guarantors</U> &#150; all Subsidiaries of the
Borrowers that have executed a Guaranty and are organized under the laws of any political subdivision of the United States, and, with respect to the Term Loan made to the Canadian Borrower, the US Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>US Loan Parties</U> &#150; collectively, the US Borrower and the US Guarantors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Voting Stock</U> &#150; with respect to any Person, means the Capital Stock or similar interests, of any class or classes (however
designated), the holders of which are at the time entitled, as such holders, to, among other things, vote for the election of the directors (or persons performing similar functions) of the Person involved, whether or not the right so to vote exists
by reason of the happening of a contingency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.2. <U>Accounting Terms</U></B>. Under the Loan Documents (except as otherwise specified herein), all
accounting terms shall be interpreted, all accounting determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis consistent with the most recent audited financial statements of the
Borrowers delivered to the Agents before the Third Amendment Effective Date and using the same inventory valuation method as used in such financial statements, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
except for any change required or permitted by GAAP if the Borrowers&#146; certified public accountants concur in such change and the change is disclosed to the Agents. If any such accounting
change results in a change in any of the calculations required by <B>Section&nbsp;10.2.12</B> that would not have resulted had such accounting change not occurred, the parties hereto agree to enter into negotiations in order to amend such provisions
so as to equitably reflect such change such that the criteria for evaluating compliance with such covenants by the Borrowers shall be the same after such change as if such change had not been made; <U>provided</U>, <U>however</U>, that no change in
GAAP that would affect a calculation that measures compliance with any covenant contained in <B>Section&nbsp;10.2.12 </B>shall be given effect until such provisions are amended to reflect such changes in GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.3. <U>Certain Matters of Construction</U></B>. The terms &#147;herein,&#148; &#147;hereof,&#148; &#147;hereunder&#148; and other words of similar import
refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. In the computation of periods of time from a specified date to a later specified date,
&#147;from&#148; means &#147;from and including,&#148; and &#147;to&#148; and &#147;until&#148; each mean &#147;to but excluding.&#148; The terms &#147;including&#148; and &#147;include&#148; shall mean &#147;including, without limitation&#148; and,
for purposes of each Loan Document, the parties agree that the rule of <I>ejusdem generis</I> shall not be applicable to limit any provision. Section titles appear as a matter of convenience only and shall not affect the interpretation of any Loan
Document. All references to (a)&nbsp;laws or statutes include all related rules, regulations, interpretations, amendments and successor provisions; (b)&nbsp;any document, instrument or agreement include any amendments, waivers and other
modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c)&nbsp;any section means, unless the context otherwise requires, a section of this Agreement; (d)&nbsp;any exhibits or schedules mean, unless the context
otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e)&nbsp;any Person include successors and assigns; or (f)&nbsp;discretion of any Agent or any Lender means the sole and absolute discretion of
such Person. Unless the context otherwise requires, all determinations (including calculations of the Term Loan Borrowing Capacity, Revolver Excess Availability and Fixed Charge Coverage Ratio) made from time to time under the Loan Documents shall
be made in light of the circumstances existing at such time. The Term Loan Borrowing Capacity calculations shall be consistent with historical methods of valuation and calculation, and otherwise reasonably satisfactory to the Agents (and not
necessarily calculated in accordance with GAAP). The Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by the Agents or any Lender under any Loan Documents. No provision of any Loan Documents
shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision. For purposes of any Collateral located in the Province of Quebec or charged by any deed of hypothec (or any other Loan Document) and
for all other purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the Province of Quebec or a court or tribunal exercising jurisdiction in the Province of Quebec, (i)&nbsp;&#147;personal
property&#148; shall be deemed to include &#147;movable property&#148;, (ii)&nbsp;&#147;real property&#148; shall be deemed to include &#147;immovable property&#148; and an &#147;easement&#148; shall be deemed to include a &#147;servitude&#148;,
(iii)&nbsp;&#147;tangible property&#148; shall be deemed to include &#147;corporeal property&#148;, (iv)&nbsp;&#147;intangible property&#148; shall be deemed to include &#147;incorporeal property&#148;, (v)&nbsp;&#147;security interest&#148; and
&#147;mortgage&#148; shall be deemed to include a &#147;hypothec&#148;, (vi)&nbsp;all references to filing, registering or recording under the PPSA or UCC shall be deemed to include publication under the Civil Code of Quebec, and all references to
releasing any Lien shall be deemed to include a release, discharge and mainlevee of a hypothec, (vii)&nbsp;all references to &#147;perfection&#148; of or &#147;perfected&#148; Liens shall be deemed to include a reference to the
&#147;opposability&#148; of such Liens to third parties, (viii)&nbsp;any &#147;right of offset&#148;, &#147;right of setoff&#148; or similar expression shall be deemed to include a &#147;right of compensation&#148;, (ix)&nbsp;&#147;goods&#148; shall
be deemed to include &#147;corporeal movable property&#148; other than chattel paper, documents of title, instruments, money and securities, (x)&nbsp;an &#147;agent&#148; shall be deemed to include a &#147;mandatary&#148;, (xi)&nbsp;&#147;joint and
several&#148; shall include &#147;solidary&#148;, (xii)&nbsp;&#147;gross negligence or wilful misconduct&#148; shall be deemed to be &#147;intentional or gross fault&#148;, (xiii)&nbsp;&#147;beneficial ownership&#148; shall include &#147;ownership
on behalf of another as mandatary&#148;, (xiv)&nbsp;&#147;priority&#148; shall include &#147;prior claim&#148;, (xv)&nbsp;&#147;survey&#148; shall include &#147;certificate of location and plan&#148;, (xvi)&nbsp;&#147;state&#148; shall include
&#147;province&#148;, (xvii)&nbsp;&#147;fee simple title&#148; shall include &#147;absolute ownership&#148;, and (xviii)&nbsp;&#147;accounts&#148; shall include &#147;claims&#148;. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.4. <U>[Reserved.]</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.5. <U>Times of Day</U></B>. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard,
as applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.6. <U>Conversions of Foreign Currencies</U></B>. The Administrative Agent shall determine the Dollar Equivalent of any amount as
required hereby, and a determination thereof by the Administrative Agent shall be conclusive absent manifest error. The Administrative Agent may, but shall not be obligated to, rely on any determination made by any Loan Party in any document
delivered to the Administrative Agent. The Administrative Agent may determine or redetermine the Dollar Equivalent of any amount on any date either in its own discretion or upon the request of any Lender. The Administrative Agent may set up
appropriate rounding off mechanisms or otherwise round-off amounts hereunder to the nearest higher or lower amount in whole Dollar or cent to ensure amounts owing by any party hereunder or that otherwise need to be calculated or converted hereunder
are expressed in whole Dollars or in whole cents, as may be necessary or appropriate. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>CREDIT FACILITY </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.1. <U>Term Loan Facility</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.1.1. <B><U>Term Loan</U></B>. (a)&nbsp;Subject to the terms and conditions set forth in this Agreement, on the Third Amendment Effective Date, each Lender
shall make to (i)&nbsp;the US Borrower a term loan in the principal amount equal to its Pro Rata share of Five Million Dollars ($5,000,000) (the &#147;<U>Tranche A Term Loan</U>&#148;), (ii)&nbsp;the US Borrower a term loan in the principal amount
equal to its Pro Rata share of Twenty-Seven Million Five Hundred Thousand Dollars ($27,500,000) (the &#147;<U>Tranche B U.S. Term Loan</U>&#148;), and (iii)&nbsp;the Canadian Borrower a term loan in the principal amount equal to its Pro Rata share
of Five Hundred Thousand Dollars ($500,000) (the &#147;<U>Tranche B Canadian Term Loan</U>&#148; and, together with the Tranche B U.S. Term Loan, the &#147;<U>Tranche B Term Loan</U>&#148; and such Tranche B Term Loan together with the Tranche A
Term Loan, collectively the &#147;<U>Term Loan</U>&#148;), <U>provided</U> that, in no event shall the aggregate Term Loan made by any Lender exceed such Lender&#146;s Commitment. The Commitments shall be terminated upon the funding on the Term Loan
on the Third Amendment Effective Date. The Term Loan is not a revolving credit facility and may not be repaid and redrawn and any repayments or prepayments of principal on the Term Loan shall permanently reduce the Term Loan. The obligations of the
Lenders hereunder are several and not joint or joint and several. Each Borrower irrevocably authorizes the Administrative Agent and the Lenders to disburse the proceeds of the Term Loan on the Third Amendment Effective Date in accordance with the
terms of this Agreement. The entire unpaid principal balance of the Term Loan shall be due and payable on the Termination Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <U>Term Loan
Borrowing Capacity</U>. The Combined Total Outstandings shall not exceed the lesser of the Term Loan Borrowing Capacity or the Combined Loan Cap. Until the Full Payment (as defined in the Revolving Credit Agreement) of the Revolving Loan Debt and
the termination of the &#147;Commitments&#148; (as defined in the Revolving Credit Agreement), the Term Loan Borrowing Capacity shall be determined from time to time by the Revolving Agent (subject to the limitations contained in the Intercreditor
Agreement) by reference to the most recent Borrowing Base Certificate delivered by the Borrowers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.1.2. <B><U>Notes</U></B>. The Pro Rata share of the
Term Loan made by each Lender and interest accruing thereon shall be evidenced by the records of the Administrative Agent and such Lender. At the request of any Lender, the Borrowers shall deliver a Note to such Lender. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.1.3. <U><B>Use of Proceeds</B></U>. The proceeds of the Term Loan shall be used by the Borrowers solely
(a)&nbsp;to pay fees and transaction expenses associated with the closing of this credit facility; and (b)&nbsp;to reduce the Revolving Loan Debt to create availability under the Revolving Borrowing Capacity for use by the Borrowers for working
capital, Capital Expenditures and other lawful corporate purposes of the Borrowers and their Subsidiaries in accordance with this Agreement and the Revolving Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.1.4. <U><B>Protective Advances</B></U>. The Administrative Agent shall be authorized, in its discretion, at any time (including any time that a Default or
Event of Default exists), to make advances (&#147;<U>Protective Advances</U>&#148;), if the Administrative Agent, after consultation with the Collateral Agent, deems such Protective Advances necessary or desirable to, directly or indirectly,
(A)&nbsp;maintain, protect or preserve the value of the Collateral and/or the Administrative Agent&#146;s rights therein as determined in the discretion of the Administrative Agent, including to preserve the Loan Parties&#146; business assets and
infrastructure (such as the payment of insurance premiums, taxes, necessary suppliers, rent and payroll, including without limitation any other payments made concurrently with a payment relating to the maintenance, protection or preservation of
value of the Collateral and/or the Administrative Agent&#146;s rights therein or for the preservation of the Loan Parties&#146; business assets or infrastructure which is made incidentally as a result of the ordinary course operation of the Loan
Parties&#146; treasury management functions), (B)&nbsp;implement and exercise an Enforcement Action with respect to the Collateral, (C)&nbsp;fund an orderly liquidation or wind-down of the Loan Parties&#146; assets or business or an Insolvency
Proceeding (whether or not occurring prior to or after the commencement of an Insolvency Proceeding), (D)&nbsp;enhance the likelihood, or maximize, the repayment of the Obligations, (E)&nbsp;reflect currency fluctuations, or (F)&nbsp;pay any other
amounts chargeable to the Loan Parties under any Loan Documents, including costs, fees and expenses. Each Lender shall participate in each Protective Advance on a Pro Rata basis. The Protective Advances shall be secured by the Collateral, shall
constitute Obligations hereunder and shall be treated for all purposes as Extraordinary Expenses. The Administrative Agent shall provide the Borrower Agent with written notice of any Protective Advances, <U>provided</U> that failure to provide such
notice shall not constitute a default by the Administrative Agent hereunder. In no event shall Protective Advances be required to be made at any time. Any sufferance of a Protective Advance shall not constitute a waiver by the Administrative Agent
or the Lenders of the Event of Default caused thereby. In no event shall any Borrower or other Loan Party be deemed a beneficiary of this Section nor authorized to enforce any of its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.2. <U>Mandatory Prepayments</U></B>. If at any time the Combined Total Outstandings exceeds the Term Loan Borrowing Capacity then in effect, then
(i)&nbsp;until the Full Payment of the Revolving Loan Debt, the Borrowers shall immediately prepay the Revolving Loan Debt, and (ii)&nbsp;thereafter, the Borrowers shall immediately prepay (subject to <B>Section&nbsp;5.5.1</B>) (a)&nbsp;the Tranche
A Term Loan Obligations first until Full Payment thereof and thereafter (b)&nbsp;the Tranche B Term Loan Obligations, for the respective accounts of the Lenders in accordance with their Pro Rata share thereof, in each case in an amount necessary to
eliminate such excess. Each prepayment made pursuant to this Section shall be accompanied by the payment of (i)&nbsp;accrued interest to the date of such payment on the amount prepaid and (ii)&nbsp;whether before or after an Event of Default or
acceleration, the Early Termination Fee, if any, payable pursuant to <B>Section&nbsp;3.2.1</B> in connection with such prepayment of the Term Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.3. <U>Optional Prepayments</U></B>. Borrowers may prepay the principal of any Term Loan at any time in whole or in part, in whole or in part. Each such
prepayment shall be irrevocable and be accompanied by a notice specifying the proposed date of such prepayment and the principal amount of the Term Loan or portion thereof to be prepaid. Each prepayment made pursuant to this Section shall be
accompanied by the payment of (i)&nbsp;accrued interest to the date of such payment on the amount prepaid and (ii)&nbsp;whether before or after an Event of Default or acceleration, the Early Termination Fee, if any, payable pursuant to
<B>Section&nbsp;3.2.1</B> in connection with such prepayment of the Term Loan. Each such prepayment shall be applied (subject to <B>Section&nbsp;5.5.1</B>) to (a)&nbsp;the Tranche A Term Loan Obligations first until Full Payment
</P>
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thereof and thereafter (b)&nbsp;the Tranche B Term Loan Obligations, for the respective accounts of the Lenders in accordance with their Pro Rata share thereof, in each case in an amount
necessary to eliminate such excess. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.4. <U>Tax Treatment</U>.</B> The Borrowers and the Lenders agree (i)&nbsp;that the Term Loan is debt for federal
income tax purposes, (ii)&nbsp;that the &#147;issue price&#148; of the Term Loan is 100% and that the Term Loan is not governed by the rules set out in Treasury Regulations Section&nbsp;1.1275-4, and (iii)&nbsp;to adhere to this Agreement for
federal income tax purposes and not to file any tax return, report or declaration inconsistent herewith unless otherwise required due to a change in law. The inclusion of this <B>Section&nbsp;2.4</B> is not an admission by any Lender that it is
subject to United States taxation. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>INTEREST, FEES AND CHARGES</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.1. <U>Rates and Payment of Interest</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.1.1. <U><B>Interest Rate</B></U>. Subject to <B>Section&nbsp;3.1.2</B>, (i)&nbsp;the Obligations under the Tranche A Term Loan shall bear interest at a rate
equal to Adjusted LIBOR plus 7.25%&nbsp;per annum and (ii)&nbsp;the Obligations under the Tranche B Term Loan shall bear interest at a rate equal to Adjusted LIBOR plus 9.75%&nbsp;per annum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.1.2. <U><B>Default Interest</B></U>. During any Event of Default described in <B>Section&nbsp;11.1(a)</B>, all Obligations shall bear interest at the
Default Rate. During any other Event of Default, at the option of any Agent or upon the request of the Required Lenders, all Obligations shall bear interest at the Default Rate. Each Borrower acknowledges that the cost, expense and risk to the
Agents and each Lender due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable estimate to compensate the Agents and the Lenders for such added cost, expense and risk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.1.3. <U><B>Payment of Interest</B></U>. Interest accrued on the Obligations shall be due and payable in arrears, and each of the Borrowers promises to pay
interest to the Lenders (i)&nbsp;on each Interest Payment Date, (ii)&nbsp;on any date of prepayment, with respect to the principal amount of the Term Loan being prepaid, and (iii)&nbsp;on the Termination Date. Interest accrued on any other
Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable <B>on demand</B>. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable
<B>on demand.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.2. <U>Fees</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.2.1.
<U><B>Early Termination Fee</B></U>. In the event prior to the fourth anniversary of the Third Amendment Effective Date, whether before or after an Event of Default or acceleration of the Obligations, the Borrowers prepay or are otherwise required
to prepay all or any part of the Term Loan for any reason, the Borrowers shall pay to the Administrative Agent, for the ratable benefit of the Lenders, a fee (the &#147;<U>Early Termination Fee</U>&#148;) in respect of amounts which are prepaid or
are or become payable by reason thereof equal to (a)&nbsp;if such prepayment occurs on or prior to the first anniversary of the Third Amendment Effective Date, four percent (4.0%)&nbsp;of the amounts so prepaid, (b)&nbsp;if such prepayment occurs
after the first anniversary of the Third Amendment Effective Date and on or prior to the second anniversary of the Third Amendment Effective Date, two percent (2.0%)&nbsp;of the amounts so prepaid and (C)&nbsp;if such prepayment occurs after the
second anniversary of the Third Amendment Effective Date and on or prior to the third anniversary of the Third Amendment Effective Date, one percent (1.0%)&nbsp;of the amounts so prepaid. For greater certainty, if any such prepayment occurs after
the third anniversary of the Third Amendment Effective Date, no Early Termination Fee or other fee arising solely on account of prepayment of the Term Loan shall be payable. All parties to this Agreement agree and acknowledge that (i)&nbsp;the
Lenders will have suffered damages on account of the early prepayment of the Term Loans, whether before or after an Event of Default or acceleration of the Obligations, and that, in view of the </P>
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difficulty in ascertaining the amount of such damages, the Early Termination Fee constitutes reasonable compensation and liquidated damages to compensate the Lenders on account thereof and
(ii)&nbsp;the Early Termination Fee constitutes neither a penalty for such prepayment nor unaccrued interest on any Term Loan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.2.2. <U><B>Commitment
Fee</B></U>. In consideration of the establishment of the credit facility, the Borrowers hereby agree to pay a fee (the &#147;<U>Commitment Fee</U>&#148;) to the Administrative Agent, for the account of the Lenders on a Pro Rata basis, in an amount
equal to one and 62.5/100 percent (1.625%)&nbsp;of the Term Loan Facility Amount as of the Third Amendment Effective Date (such amount being equal to $536,250.00), on the Third Amendment Effective Date. The Commitment Fee has been fully earned and
payable as of the Third Amendment Effective Date and shall not be subject to refund or rebate under any circumstances. No additional Commitment Fee shall be payable in connection with the execution and delivery of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.2.3. <U><B>Agent Monitoring Fee</B></U>. The Borrowers agree to pay to the Administrative Agent, for its own account, a monitoring fee (the &#147;<U>Agent
Monitoring Fee</U>&#148;) in the amount equal to $30,000 per annum, payable on the Third Amendment Effective Date and each one-year anniversary thereof until the Termination Date or prepayment, in full, of the Term Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.3. <U>Computation of Interest, Fees, Yield Protection</U></B><B>.</B> All computation of interest, as well as fees and other charges calculated on a per
annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by the Administrative Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent
manifest error. All fees shall be fully earned when due and shall not be subject to rebate or refund, nor subject to proration except as specifically provided herein. A certificate as to amounts payable by the Borrowers under
<B>Section</B>&nbsp;<B>3.4, 3.7</B> or <B>5.8</B>, submitted to the Borrowers by the Administrative Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error. For the purpose of
complying with <I>the Interest Act</I> (Canada), it is expressly stated that where interest or a fee is calculated pursuant hereto at a rate based upon a 360-day period (for the purposes of this Section, the &#147;first rate&#148;), the yearly rate
or percentage of interest to which the first rate is equivalent is the first rate multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 360, and the parties hereto acknowledge that there
is a material distinction between the nominal and effective rates of interest and that they are capable of making the calculations necessary to compare such rates and that the calculations herein are to be made using the nominal rate method and not
on any basis that gives effect to the principle of deemed reinvestment of interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.4. <U>Reimbursement Obligations</U></B><B>.</B> The Borrowers
shall reimburse the Agents and the Lenders for all Extraordinary Expenses. Without duplication, the Borrowers shall also reimburse the Agents and the Lenders for all reasonable legal, accounting, appraisal, consulting, and other fees, costs and
expenses incurred by it in connection with (a)&nbsp;negotiation, preparation, execution and delivery of any Loan Documents, including any amendment or other modification thereof (whether or not the transactions contemplated hereby or thereby shall
be consummated); (b)&nbsp;administration of and actions relating to any Collateral, Loan Documents and transactions contemplated thereby, including any actions taken to perfect or maintain priority of the Administrative Agent&#146;s Liens on any
Collateral, to maintain any insurance required hereunder or to verify Collateral; and (c)&nbsp;subject to the limits of <B>Section&nbsp;10.1.1(b)</B>, each inspection, audit or appraisal with respect to any Loan Party or Collateral, whether prepared
by an Agent&#146;s or any Lender&#146;s personnel or a third party. The Borrowers shall also reimburse the Agents and the Lenders for all reasonable costs and expenses incurred by them (whether during an Event of Default or otherwise) in connection
with the enforcement or preservation of any rights under this Agreement or any of the other Loan Documents (including during any workout, restructuring or negotiations in respect of the Term Loan, Loan Documents or the transactions contemplated
thereby). All amounts reimbursable </P>
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by the Borrowers under this <B>Section&nbsp;3.4</B> shall constitute Obligations secured by the Collateral and shall be payable within twenty Business Days after presentation by the applicable
Agent or the applicable Lender to the Borrowers of a reasonably detailed itemization of such amounts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.5. <U>[Reserved.]</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.6. <U>[Reserved.]</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.7. <U>Capital
Adequacy</U>.</B> If a Lender determines that any introduction of or any change in a Capital Adequacy Regulation, any change in the interpretation or administration of a Capital Adequacy Regulation by a Governmental Authority charged with
interpretation or administration thereof, or any compliance by such Lender or any Person controlling such Lender with a Capital Adequacy Regulation, in each case made after the date hereof, increases the amount of capital or liquidity required or
expected to be maintained by such Lender or Person (taking into consideration its capital adequacy and liquidity policies and desired return on capital) as a consequence of such Lender&#146;s Pro Rata share of the Term Loan or other obligations
under the Loan Documents, then the Borrowers shall, within ten days following demand therefor, pay such Lender an amount sufficient to compensate for such increase. A Lender&#146;s demand for payment shall set forth the nature of the occurrence
giving rise to such compensation and a calculation of the amount to be paid. In determining such amount, the Lender may use any reasonable averaging and attribution method. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.8. <U>Mitigation</U>.</B> Each Lender agrees that, upon becoming aware that it is subject to <B>Section&nbsp;3.7</B>, <B>5.8</B> or <B>5.11</B>, it will
take reasonable measures to reduce the Borrowers&#146; obligations under such Sections, including by maintaining such Lender&#146;s Pro Rata share of the Term Loan through another office or assigning its rights and obligations hereunder to another
of its offices, branches or Affiliates, as long as use of such measures would not adversely affect such Lender&#146;s Pro Rata share of the Term Loan, business or interests, and would not be inconsistent with any applicable legal or regulatory
restriction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.9. <U>[Reserved.]</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.10.
<U>Maximum Interest</U></B><B>.</B> In no event shall interest, charges or other amounts that are contracted for, charged or received by the Agents and the Lenders pursuant to any Loan Documents and that are deemed interest under Applicable Law
(&#147;<U>interest</U>&#148;) exceed the highest rate permissible under Applicable Law (&#147;<U>maximum rate</U>&#148;). If, in any period, any interest rate, absent the foregoing limitation, would have exceeded the maximum rate, then the interest
rate for that month shall be the maximum rate and, if in a future month, that interest rate would otherwise be less than the maximum rate, then the rate shall remain at the maximum rate until the amount of interest actually paid equals the amount of
interest which would have accrued if it had not been limited by the maximum rate. If, upon payment in full, in cash, of the Obligations, the total amount of interest actually paid under the Loan Documents is less than the total amount of interest
that would, but for this <B>Section&nbsp;3.10</B>, have accrued under the Loan Documents, then the Borrowers shall, to the extent permitted by Applicable Law, pay to the Administrative Agent, for the account of the Lenders, (a)&nbsp;the lesser of
(i)&nbsp;the amount of interest that would have been charged if the maximum rate had been in effect at all times, or (ii)&nbsp;the amount of interest that would have accrued had the interest rate otherwise set forth in the Loan Documents been in
effect, <U>minus</U> (b)&nbsp;the amount of interest actually paid under the Loan Documents. If a court of competent jurisdiction determines that any Agent or any Lender has received interest in excess of the maximum amount allowed under Applicable
Law, such excess shall be deemed received on account of, and shall automatically be applied to reduce, Obligations other than interest (regardless of any erroneous application thereof by the Administrative Agent or any Lender), and upon payment in
full, in cash of the Obligations, any balance shall be refunded to the Borrowers. In determining whether any excess interest has been charged or received by any Agent or any Lender, all interest at any time charged or received from the Borrowers in
connection with the </P>
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Loan Documents shall, to the extent permitted by Applicable Law, be amortized, prorated, allocated and spread in equal parts throughout the full term of the Obligations. If any provision of this
Agreement would oblige a Canadian Loan Party to make any payment of interest or other amount payable to the Agents and the Lenders in an amount or calculated at a rate which would be prohibited by Applicable Law or would result in a receipt by the
Agents and the Lenders of &#147;interest&#148; at a &#147;criminal rate&#148; (as such terms are construed under the <I>Criminal Code</I> (Canada)), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with
retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by Applicable Law or so result in a receipt by the Agents and the Lenders of &#147;interest&#148; at a &#147;criminal rate&#148;, such
adjustment to be effected, to the extent necessary (but only to the extent necessary), as follows: (a)&nbsp;first, by reducing the amount or rate of interest; and (b)&nbsp;thereafter, by reducing any fees, commissions, costs, expenses, premiums and
other amounts required to be paid which would constitute interest for purposes of section 347 of the <I>Criminal Code</I> (Canada). Any provision of this Agreement that would oblige a Canadian Loan Party to pay any fine, penalty or rate of interest
on any arrears of principal of interest secured by a mortgage or hypothec on Real Estate that has the effect of increasing the charge on arrears beyond the rate of interest payable on principal money not in arrears shall not apply to such Canadian
Loan Party, which shall be required to pay interest on money in arrears at the same rate of interest payable on principal money not in arrears. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.11.
<U>Replacement of the Lenders</U></B>. In the event that any Lender is a Defaulting Lender (each an &#147;<U>Affected Lender</U>&#148;), then the Borrower Agent may, at its option, notify the Administrative Agent and such Affected Lender of its
intention to replace the Affected Lender. So long as no Default or Event of Default shall have occurred and be continuing, the Borrower Agent, with the consent of the Administrative Agent, may obtain, at the Borrowers&#146; expense, a replacement
Lender (&#147;<U>Replacement Lender</U>&#148;) for the Affected Lender, which Replacement Lender must be (i)&nbsp;an Eligible Assignee and (ii)&nbsp;satisfactory to the Administrative Agent. If the Borrowers obtain a Replacement Lender within ninety
(90)&nbsp;days following notice of their intention to do so, the Affected Lender must sell and assign its Pro Rata share of the Term Loan to such Replacement Lender for an amount equal to the principal balance of its Pro Rata share of the Term Loan
held by the Affected Lender and all accrued interest and fees with respect thereto through the date of such sale; <U>provided</U> that the Borrowers shall have reimbursed such Affected Lender for the additional amounts or increased costs that it is
entitled to receive under this Agreement through the date of such sale and assignment. Furthermore, if the Borrower Agent gives a notice of intention to replace and does not so replace such Affected Lender within ninety (90)&nbsp;days thereafter,
the Borrowers&#146; rights under this paragraph as to such noticed replacement and in connection with such Affected Lender shall terminate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.12.
<U>Dodd-Frank Act</U></B>. Notwithstanding anything herein to the contrary, (x)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act, and all regulations, rules, guidelines and directives promulgated thereunder and (y)&nbsp;all 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 regulatory authorities, in each case pursuant to Basel III,
shall, in each case, be deemed to have been adopted after the date hereof, regardless of the date enacted, adopted or issued. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>LOAN ADMINISTRATION</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.1. <U>[Reserved.]</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.2. <U>Defaulting Lender</U>.</B> If a Lender fails to make any payment to the Administrative Agent that is required hereunder (a &#147;<U>Defaulting
Lender</U>&#148;), the Administrative Agent may (but shall not be required to), in its discretion, retain payments that would otherwise be made to such Defaulting Lender hereunder and </P>
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apply the payments to such Lender&#146;s defaulted obligations. The failure of any Lender to fund a portion of the Term Loan in an amount equal to such Lender&#146;s Commitment shall not relieve
any other Lender of its obligations hereunder, and no Lender shall be responsible for default by another Lender. The Lenders and the Administrative Agent agree (which agreement is solely among them, and not for the benefit of or enforceable by any
Borrower) that, solely for purposes of determining a Defaulting Lender&#146;s right to vote on matters relating to the Loan Documents and to share in payments, fees and Collateral proceeds thereunder, a Defaulting Lender shall not be deemed to be a
&#147;Lender&#148; until all its defaulted obligations have been cured. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.3. <U>[Reserved.]</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.4. <U>The Borrower Agent</U>.</B> Each Borrower hereby designates the US Borrower (&#147;<U>Borrower Agent</U>&#148;) as its representative and agent for
all purposes under the Loan Documents, including delivery or receipt of communications with the Agents or any Lender, preparation and delivery of Borrowing Base Certificates and financial reports, receipt and payment of Obligations, requests for
waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants), and all other dealings with the Agents or any Lender. The Borrower Agent hereby accepts such appointment. The Agents
and the Lenders shall be entitled to rely upon, and shall be fully protected in relying upon, any notice or communication (including any notice of borrowing) delivered by the Borrower Agent on behalf of any Borrower. The Agents and the Lenders may
give any notice or communication with a Borrower hereunder to the Borrower Agent on behalf of such Borrower. The Agents shall have the right, in its discretion, to deal exclusively with the Borrower Agent for any or all purposes under the Loan
Documents. Each Borrower agrees that any notice, election, communication, representation, agreement or undertaking made on its behalf by the Borrower Agent shall be binding upon and enforceable against it. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.5. <U>Effect of Termination</U>.</B> On the Termination Date, all Obligations shall be immediately due and payable. All undertakings of the Borrowers
contained in the Loan Documents shall survive any termination, and the Administrative Agent shall retain its Liens in the Collateral and all of its rights and remedies under the Loan Documents until Full Payment of the Obligations (including all
accrued and unpaid principal, interest and fees, and any other Obligations then due and owing, and any appropriate collateral deposits in connection therewith). Notwithstanding such Full Payment of the Obligations (including all accrued and unpaid
principal, interest and fees, and any other Obligations then due and owing, and any appropriate collateral deposits in connection therewith), the Administrative Agent shall not be required to terminate its Liens in any Collateral unless, with
respect to any damages the Administrative Agent may incur as a result of the dishonor or return of Payment Items applied to Obligations, the Administrative Agent receives (a)&nbsp;a written agreement, executed by the Borrowers and any Person whose
advances are used in whole or in part to satisfy the Obligations, indemnifying the Agents and the Lenders from any such damages; (b)&nbsp;such Cash Collateral as the Administrative Agent, in its discretion, deems necessary to protect against any
such damages; or (c)&nbsp;such other protections as the Administrative Agent, in its discretion, deems necessary to protect against any such damages. The provisions of <B>Sections 3.4, 3.7, 4.5, 5.4, 5.8, 12,</B> and <B>14.2</B>, and the obligation
of each Loan Party and the Lender with respect to each indemnity given by it in any Loan Document, shall survive Full Payment of the Obligations and any release relating to this credit facility. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>PAYMENTS </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.1. <U>General Payment Provisions</U>.</B> All payments of Obligations shall be made in
Dollars, without condition, offset, counterclaim, recoupment or defense of any kind, free of (and without deduction for) any Taxes, and in immediately available funds, not later than 2:00 p.m. on the due date. Any payment after such time shall be
deemed made on the next Business Day. The Borrowers may, at the time of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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payment, specify to the Administrative Agent the Obligations to which such payment is to be applied, but the Administrative Agent shall in all events retain the right to apply such payment in
such manner as the Administrative Agent, subject to the provisions hereof, may determine to be appropriate. If any payment under the Loan Documents shall be stated to be due on a day other than a Business Day, the due date shall be extended to the
next Business Day and such extension of time shall be included in any computation of interest and fees. Unless the Administrative Agent shall have received notice from a Borrower prior to the time at which any payment is due to the Administrative
Agent for the account of the Lenders that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to the Lenders the amount due. In such event, if a Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender, in
immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the federal funds rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.2. <U>Repayment of Term
Loan</U></B><B>.</B> The Term Loan and all other Obligations shall be due and payable in full on the Maturity Date, unless payment is sooner required hereunder pursuant to <B>Section&nbsp;11.2</B>. The Borrower promises to pay on the Maturity Date,
or on such earlier date as payment is required hereunder pursuant to <B>Section&nbsp;11.2</B>, and there shall become absolutely due and payable on such date, the Total Outstandings, together with any and all accrued and unpaid interest thereon and
all other fees and other amounts then accrued and outstanding with respect thereto. The Term Loan may be prepaid in accordance with <B>Sections 2.2, 2.3, 5.1</B> and <B>Section 5.5</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.3. <U>Payment of Other Obligations</U>.</B> Obligations other than the Term Loan, including Extraordinary Expenses, shall be paid by the Borrowers as
provided in the Loan Documents or, if no payment date is specified, promptly upon receipt by the Borrowers of notice of the amounts due in connection therewith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.4. <U>Marshaling; Payments Set Aside</U>.</B> None of the Agents or the Lenders shall be under any obligation to marshal any assets in favor of any Loan
Party or against any Obligations. If any Loan Party makes a payment to the Agents or the Lenders, or if any Agent or any Lender receives payment from the proceeds of Collateral or the Montrovest LC, exercise of setoff or otherwise, and such payment
is subsequently invalidated or required to be repaid to a trustee, receiver or any other Person, then the Obligations originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and
effect as if such payment had not been received and any enforcement or setoff had not occurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.5. <U>Allocation of Payments</U>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.5.1. <U><B>Allocation of Payments</B></U>. Notwithstanding anything herein to the contrary (but subject to the Intercreditor Agreement), at any time after
the occurrence and continuance of an Event of Default, all funds received by the Administrative Agent or any Lender and for which a Borrower has received credits, together with all payments to be initially applied to the Obligations, whether arising
from payments by the Loan Parties, realization on Collateral or Montrovest LC, setoff or otherwise, shall be applied to the Obligations as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)
<U>first</U>, to all costs and expenses, including Extraordinary Expenses, owing to the Agents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <U>second</U>, to all Obligations constituting fees
(other than the Early Termination Fee) and Extraordinary Expenses owing to the Lenders; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) <U>third</U>, to all Obligations constituting interest on the Tranche A Term Loan; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) <U>fourth</U>, to all Obligations constituting principal of the Tranche A Term Loan; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) <U>fifth</U>, to all Obligations constituting interest on the Tranche B Term Loan; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) <U>sixth</U>, to all Obligations constituting principal of the Tranche B Term Loan; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) <U>seventh</U>, to all Obligations constituting the Early Termination Fee; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) <U>eighth</U>, to all other Obligations owing to the Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amounts shall be applied to each category of Obligations set forth above until Full Payment thereof and then to the next category. If amounts are insufficient
to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. The allocations set forth in this <B>Section&nbsp;5.5.1</B> are solely to determine the rights and priorities of the Administrative Agent and the
Lenders as among themselves, and may be changed by agreement among them without the consent of any Loan Party. Any amounts applied to the categories described in clauses (b), (c), (d), (e), (f), (g)&nbsp;and (h)&nbsp;shall be so applied in
accordance with each Lender&#146;s Pro Rata share of the Term Loan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.5.2. <U><B>Erroneous Application</B></U>. The Administrative Agent shall not be
liable for any application of amounts made by it in error (unless it has been determined in a final, non-appealable judgment by a court of competent jurisdiction that such error was a result of the gross negligence or willful misconduct of the
Administrative Agent) and if any such application is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made (unless it has been determined in a final,
non-appealable judgment by a court of competent jurisdiction that such error was a result of the gross negligence or willful misconduct of the Administrative Agent) shall be to recover the amount from the Person that actually received it (and, if
such amount was received by any Lender, such Lender hereby agrees to return it). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.6. </B><U><B>[Reserved.]</B></U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.7. </B><U><B>Loan Account; Account Stated.</B></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.7.1.
<U><B>Loan Account</B></U>. The Administrative Agent shall maintain in accordance with its usual and customary practices an account or accounts (&#147;<U>Loan Account</U>&#148;) evidencing the Debt of the Borrowers resulting from the Term Loan from
time to time. Any failure of the Administrative Agent to record anything in the Loan Account, or any error in doing so, shall not limit or otherwise affect the obligation of the Borrowers to pay any amount owing hereunder. The Administrative Agent
may maintain a single Loan Account in the name of the Borrower Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.7.2. <U><B>Entries Binding</B></U>. Entries made in the Loan Account shall
constitute presumptive evidence of the information contained therein. If any information contained in the Loan Account is provided to or inspected by any Person, then such information shall be conclusive and binding on such Person for all purposes
absent manifest error, except to the extent such Person notifies the Administrative Agent in writing within 30 days after receipt or inspection that specific information is subject to dispute. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.8. <U>Taxes</U>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.1. <U><B>Generally</B></U>. If
any Taxes (except Excluded Taxes) shall be payable by any party due to the execution, delivery, issuance or recording of any Loan Documents, or the creation or repayment of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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Obligations, the Borrowers shall pay (and shall promptly reimburse the Agents and the Lenders for their payment of) all such Taxes, including, without limitation, any interest and penalties
thereon, and will indemnify and hold harmless Indemnitees against all liability in connection therewith. Without limiting the foregoing provisions, the Borrowers shall timely pay any Other Taxes to the relevant Governmental Authority, or at the
option of the Administrative Agent timely reimburse it for the payment of any Other Taxes, in accordance with Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.2. <U><B>Withholding
Taxes</B></U>. All payments to the Agents or the Lenders (or any successor or assignee thereof) by or on account of a Loan Party under this Agreement or any other Loan Document shall be made free and clear of and without deduction or withholding for
any and all Taxes unless required by Applicable Law. If any Loan Party shall be required by Applicable Law to withhold or deduct any Taxes with respect to any sum payable under any Loan Documents, (a)&nbsp;if such Taxes are Indemnified Taxes, the
sum payable to such Agent or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions (including withholding or deduction applicable to additional amounts paid under this
<B>Section&nbsp;5.8.2</B>), such Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made; (b)&nbsp;such Loan Party shall make such withholding or
deductions; and (c)&nbsp;such Loan Party shall timely pay the full amount withheld or deducted to the relevant taxing or other authority in accordance with Applicable Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.3. <U><B>Indemnity</B></U>. Each Loan Party shall indemnify and hold harmless each of the Lenders and the Agents for the full amount of Indemnified Taxes
imposed on or paid by such Lender or any such Agent and any liability (including, without limitation, penalties, interest and expenses payable or incurred in connection therewith) arising from or with respect to such Taxes, whether or not they were
correctly or legally imposed or asserted. Payment under this indemnification shall be made within 10 days from the date the applicable Agent or the relevant Lender, as the case may be, makes written demand for it. A certificate containing reasonable
detail as to the amount of such Taxes submitted to the relevant Loan Party by an Agent or the relevant Lender shall be conclusive evidence, absent manifest error, of the amount due from such Borrower to such Agent or such Lender, as the case may be.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.4. <U><B>Evidence of Payments</B></U>. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Loan Party to a Governmental
Authority, the Borrowers shall deliver, or cause to be delivered, to the Agent and the applicable Lender the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such
payment or other evidence of such payment reasonably satisfactory to the Agent and such Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.5. <B><U>Treatment of Certain Refunds</U>.</B> If the
Agent or any Lender has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Loan Parties or with respect to which a Loan Party has paid additional amounts pursuant to this Section&nbsp;5.8, it shall pay to such
Loan Party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses (including Taxes) of the Agent or such Lender, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), <U>provided</U> that the Loan Parties,
upon the request of the Agent or such Lender, agree to repay the amount paid over to the Loan Parties (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Agent or such Lender in the event the Agent
or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section&nbsp;5.8.5, in no event will the indemnified party be required to pay any amount to an indemnifying party
pursuant to this Section&nbsp;5.8.5 the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund
had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise with respect to such refund Tax had never </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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been paid. This subsection shall not be construed to require the Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential)
to the Loan Parties or any other Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.8.6. <U><B>Survival</B></U>. Each party&#146;s obligations under this <B>Section&nbsp;5.8</B> shall survive
the resignation or replacement of the Agent, the replacement of a Lender, the expiration or termination of this Agreement and the other Loan Documents and the satisfaction or discharge of all obligations under any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.9. <U>Withholding Tax Exemption</U>.</B> At least five Business Days prior to the first date for payment of interest or fees hereunder to a Foreign
Lender, the Foreign Lender shall, if applicable, deliver to the US Borrower and the Administrative Agent two duly completed copies of IRS Form W-8BEN, W-8BEN-E or W-8ECI (or any subsequent replacement or substitute form therefor), as applicable,
certifying that such Lender can receive payment of Obligations without deduction or withholding of any United States federal income taxes. Each Foreign Lender shall deliver to the US Borrower and the Administrative Agent two additional copies of
such form before the preceding form expires or becomes obsolete or after the occurrence of any event requiring a change in the form, as well as any amendments, extensions or renewals thereof as may be reasonably requested by the US Borrower or the
Administrative Agent, in each case, certifying that the Foreign Lender can receive payment of Obligations without deduction or withholding of any such taxes, unless an event (including any change in treaty or law) has occurred that renders such
forms inapplicable or prevents the Foreign Lender from certifying that it can receive payments without deduction or withholding of such taxes. During any period that a Foreign Lender does not or is unable to establish that it can receive payments
without deduction or withholding of such taxes, other than by reason of an event (including any change in treaty or law) that occurs after it becomes a Lender, the Administrative Agent may withhold US Taxes from payments to such Foreign Lender at
the applicable statutory and treaty rates, and the Borrowers shall not be required to pay any additional amounts under <B>Section&nbsp;5.8</B> or this <B>Section&nbsp;5.9</B> as a result of such withholding. Each Lender or Agent that is organized
under the laws of the United States, or any state or district thereof shall provide to the US Borrower (and in the case of a Lender, to the Administrative Agent) two duly executed copies of IRS Form W-9. In the event that any Lender or any Agent
does not comply with the requirements of this <B>Section&nbsp;5.9</B>, the US Borrower may withhold taxes from payments to such Lender or such Agent as required by Applicable Law. In the event of the resignation of the Administrative Agent pursuant
to <B>Section&nbsp;12.8</B> hereunder, the successor Administrative Agent shall be subject to the provisions of this <B>Section&nbsp;5.9</B> in the same manner as a its predecessor Administrative Agent, and shall be required to provide the
appropriate IRS Form W-8BEN, W-8BEN-E or W-8ECI to the US Borrower as required in this <B>Section&nbsp;5.9</B>. In the event that the successor Administrative Agent does not comply with the requirements of this <B>Section&nbsp;5.9</B>, the US
Borrower may withhold US Taxes from payments to such successor Administrative Agent as required by Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.10. <U>Currency Matters</U></B>.
Dollars are the currency of account and payment for each and every sum at any time due from the Borrowers hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.11. <U>Increased Costs</U>.</B>
If any change in law shall subject the Agent or any Lender to any Taxes (other than Excluded Taxes and Indemnified Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto and the result of any of the foregoing shall be to increase the cost to such Lender or the Agent of making, converting to, continuing or maintaining any loan or of maintaining its obligation to make any
such Loan, or to increase the cost to such Lender or the Agent of participating in, issuing or maintaining any letter of credit (or of maintaining its obligation to participate in or to issue any letter of credit), or to reduce the amount of any sum
received or receivable by such Lender or the Agent hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the Agent, the Borrower will pay to such Lender or the Agent, as the case may be, such additional
amount or amounts as will compensate such Lender or the Agent, as the case may be, for such additional costs incurred or reduction suffered. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>CONDITIONS PRECEDENT</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.1. <U>Conditions Precedent to Effectiveness of
Agreement</U>.</B> This Agreement shall not be effective and the Lenders shall not be required to fund their respective portions of the Term Loan hereunder until the date that each of the following conditions has been satisfied (in each case, in
form and substance satisfactory to the Administrative Agent and each of the Lenders): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Notes shall have been executed by the Borrowers and delivered
to each Lender that requests issuance of a Note. Each other Loan Document shall have been duly executed and delivered to the Administrative Agent by each of the signatories thereto, and each Loan Party shall be in compliance with all terms thereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) The Administrative Agent shall be satisfied that the Security Documents shall be effective to create in favor of the Administrative Agent a legal,
valid and enforceable security interest in and Lien upon the Collateral (subject only to the first priority security interest and Lien in favor of the Revolving Agent or the Canadian Revolving Agent) and shall have received (i)&nbsp;to the extent
not previously delivered to the Administrative Agent prior to the date hereof, evidence that all filings, recordings, deliveries of instruments and other actions necessary or desirable in the commercially reasonable opinion of the Administrative
Agent to protect and preserve such security interests shall have been duly effected, (ii)&nbsp;UCC, PPSA and Lien searches (and the equivalent thereof in all applicable foreign jurisdictions) and other evidence reasonably satisfactory to the
Administrative Agent that such Liens are the only Liens upon the Collateral, except Permitted Liens, (iii)&nbsp;to the extent not previously delivered to the Administrative Agent prior to the date hereof, evidence that the payment (or evidence of
provision for payment) of all filing and recording fees and taxes due and payable in respect thereof has been made in form and substance reasonably satisfactory to the Administrative Agent and (iv)&nbsp;to the extent not previously delivered to the
Administrative Agent prior to the date hereof, all Lien Waivers and Lien Priority Agreements necessary or desirable in the reasonable opinion of the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) To the extent not previously delivered to the Administrative Agent prior to the date hereof, the Administrative Agent shall have received (i)&nbsp;duly
executed copies of the Revolving Loan Agreement, the Damiani Debt Documents, the Montrovest Debt Documents, the Management Agreement, the Rolex USA Documents and the Rolex Canada Documents, certified by a Senior Officer of the Borrowers as complete
and correct (with such certification to be in such Person&#146;s capacity as a Senior Officer of the Borrowers and not in such Person&#146;s individual capacity), and the Administrative Agent shall be satisfied with the terms and conditions and
provisions thereof, which documents shall be in full force and effect and without amendment except attached thereto; and (ii)&nbsp;duly executed estoppel letters with respect to consignment filings on record in any province in Canada to the extent
that the collateral description in such consignment filings is not sufficiently limited as determined by the Administrative Agent in its commercially reasonable discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) [Reserved]. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) The Administrative Agent shall have received a certificate, in form and substance reasonably satisfactory to
it, from a Senior Officer of each Borrower (with such certification to be in such Person&#146;s capacity as a Senior Officer of such Borrower and not in such Person&#146;s individual capacity) certifying that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) after giving effect to the Term Loan, the Revolving Loans, and transactions hereunder and under the Revolving Credit Agreement, (A)&nbsp;each Loan Party
is Solvent; (B)&nbsp;no Default or Event of Default exists; (C)&nbsp;the representations and warranties set forth in <B>Section&nbsp;9</B> are true and correct in all material respects; and (D)&nbsp;each Loan Party has complied in all material
respects with all agreements and conditions to be satisfied by it under the Loan Documents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(ii) there is no action, suit, investigation or proceeding
pending or, to the knowledge of the Loan Parties, threatened in any court or before any arbitrator or governmental authority that could reasonably be expected to have a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iii) the Term Loan made by the Lenders to the Borrowers hereunder is and shall remain in full compliance with the Federal Reserve&#146;s margin regulations
and other similar Applicable Laws; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iv) no law or regulation to which any Loan Party is subject is applicable to the transactions contemplated hereby
which could reasonably be expected to have a Material Adverse Effect on any Loan Party or a Material Adverse Effect on the transactions contemplated hereby; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(v) no Material Adverse Effect shall have occurred since March&nbsp;29, 2014; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(vi) the Revolving Loan Documents shall be in full force and effect and no default or event of default shall exist thereunder; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(vii) there is no default in existence under any Material Contract by a Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) The Administrative Agent shall have received a certificate of a duly authorized officer of each Loan Party (with such certification to be in such
Person&#146;s capacity as an officer of such Loan Party and not in such Person&#146;s individual capacity), certifying (i)&nbsp;that the attached copy of such Loan Party&#146;s Organizational Documents (including, without limitation, such Loan
Party&#146;s charter documents) are true and complete and in full force and effect, and remain in full force and effect, (ii)&nbsp;that an attached copy of resolutions authorizing execution and delivery of the Loan Documents is true and complete,
and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to this credit facility, and (iii)&nbsp;to the title, name and signature of
each Person authorized to sign the Loan Documents. The Administrative Agent may conclusively rely on this certificate until it is otherwise notified by the applicable Loan Party in writing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) Each of the Lenders and the Agents shall have received favorable legal opinions addressed to the Lenders and the Agents, dated as of the Third Amendment
Effective Date, in form and substance reasonably satisfactory to the Lenders and the Agents, from (i)&nbsp;Holland&nbsp;&amp; Knight LLP, US counsel to the Borrowers and their Subsidiaries; (ii)&nbsp;Stikeman Elliott LLP, Canadian counsel to the
Borrowers and their Subsidiaries; and (iii)&nbsp;local Canadian counsel to the Borrowers and their Subsidiaries with respect to filing and perfection matters in the applicable provinces and territories of Canada. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) The Administrative Agent shall have received good standing or subsistence certificates, as applicable, for each Loan Party, issued by the Secretary of
State or other appropriate official of such Loan Party&#146;s jurisdiction of organization, dated as of a recent date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) The Administrative Agent shall
(i)&nbsp;be reasonably satisfied with the amount, types and terms and conditions of all insurance maintained by the Loan Parties and their Subsidiaries, and (ii)&nbsp;have received certificates of insurance identifying insurers, types of insurance,
insurance limits and policy terms and with endorsements naming the Administrative Agent, for the benefit of the Lenders, as lender&#146;s loss payee or additional insured, as applicable, with respect to each insurance policy required to be
maintained with respect to the Collateral and otherwise in form and substance reasonably satisfactory to the Administrative Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) The Administrative Agent shall be satisfied that no Material Adverse Effect shall have occurred since
March&nbsp;29, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) The Borrowers shall have paid to the Agent those fees due on the Third Amendment Effective Date in the amounts set forth herein.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) The Borrowers shall have consummated the transactions contemplated by the Revolving Loan Documents (including any amendments thereof) and such
documents shall be in full force and effect, and there shall be no Default or Event of Default existing under the Revolving Loan Documents on the Third Amendment Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) To the extent not previously delivered to the Administrative Agent prior to the date hereof, the Administrative Agent shall have received duly executed
copies of the Management Subordination Agreement and the Montrovest Subordination Agreement, each of which shall be in form and substance satisfactory to the Administrative Agent and which shall be in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) The Administrative Agent shall have received a flow of funds, in form and substance satisfactory to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(o) The Administrative Agent shall have entered into the Intercreditor Agreement with the Revolving Loan Agent which agreement shall be in form and substance
satisfactory to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(p) The Administrative Agent shall have received a Borrowing Base Certificate indicating that Revolver Excess
Availability as of the Third Amendment Effective Date, after giving effect to the transactions contemplated hereby (including the making of the Term Loan on the Third Amendment Effective Date) and by the Revolving Loan Documents, is not less than
$11,500,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(q) The Administrative Agent shall have received a certificate of a duly authorized officer of each Loan Party (with such certification to
be in such Person&#146;s capacity as an officer of such Loan Party and not in such Person&#146;s individual capacity), either (i)&nbsp;attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and
performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (ii)&nbsp;stating that no such consents, licenses
or approvals are so required. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(r) The Administrative Agent shall have received (i)&nbsp;the audited financial statements of the Borrowers for the Fiscal
Year ended on March&nbsp;29, 2014, (ii)&nbsp;the unaudited financial statements of the Borrowers for the period ending September&nbsp;27, 2014, and (iii)&nbsp;forecasts prepared by management of the Borrowers of balance sheets, income statements and
cash flow statements of the Borrowers on a monthly basis for the current Fiscal Year and next twelve months, and there shall have been no material misstatements in or omissions from the materials previously furnished to the Administrative Agent for
its review. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(s) The Administrative Agent shall have received all payoff letters or other relevant assignment of loans and withdrawal or transfer of
existing agent agreements and documentation evidencing the payment in full of the existing lenders under the Second Amended and Restated Loan Agreement and the assignment of the agent under the Second Amended and Restated Loan Agreement to the Agent
hereunder, along with collateral release, assignment or transfer documentation in connection therewith. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(t) The Administrative Agent shall have received a draft amendment to the Montrovest LC naming the Administrative
Agent as a notice addressee thereof and must be in form and substance reasonably satisfactory to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(u) There have occurred no
material changes in governmental regulations or policies adversely affecting the Loan Parties, the Administrative Agent or the Lenders party to this transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(v) The Administrative Agent shall have received the executed Fifth Amendment to the Revolving Credit Agreement in form and substance reasonably satisfactory
to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.2. <U>Condition Subsequent.</U></B> By the end of the second Business Day following the Closing Date (or such longer
period as determined by the Administrative Agent in its sole discretion), the amendment to the Montrovest LC naming the Administrative Agent as a notice addressee thereof shall have been finalized and provided to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.3. <U>Limited Waiver of Conditions Precedent</U>.</B> If the Administrative Agent or the Lenders fund the Term Loan when any conditions precedent are not
satisfied (regardless of whether the lack of satisfaction was known or unknown at the time), it shall not operate as a waiver of any Default or Event of Default due to such failure of conditions or otherwise. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;7.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>COLLATERAL SECURITY AND GUARANTEES</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.1.</B> <U><B>Grant of Security Interest</B></U>.
To secure the prompt payment and performance of all Obligations, each Loan Party hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in and Lien upon all Property of such Loan Party,
including all of the following Property, whether now owned or hereafter acquired, and wherever located: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) all Accounts; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) all Chattel Paper, including electronic chattel paper; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)
all Commercial Tort Claims, including, without limitation, those Commercial Tort Claims identified on <B>Schedule 7.1</B> (as such Schedule may be updated by the Administrative Agent from time to time); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) all Deposit Accounts; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) all Documents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) all General Intangibles, including Payment Intangibles, Software and Intellectual Property; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) all Goods, including Inventory, Equipment and Fixtures; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) all Instruments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) all Investment Property; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) all Letter-of-Credit Rights; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) all Supporting
Obligations; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) all monies, whether or not in the possession or under the control of an Agent, a Lender, or a bailee or
Affiliate of an Agent or a Lender, including any Cash Collateral; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) all accessions to, substitutions for, and all replacements, products, and cash and
non-cash proceeds of the foregoing, including proceeds of and unearned premiums with respect to insurance policies, and claims against any Person for loss, damage or destruction of any Collateral; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) all books and records (including customer lists, files, correspondence, tapes, computer programs, print-outs and computer records) pertaining to the
foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.2. <U>Deposit Accounts; Cash Collateral; Credit Card Agreements</U>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.2.1. <U><B>Bank Accounts.</B></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) To further secure the
prompt payment and performance of all Obligations, each Loan Party hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in and Lien upon all of such Loan Party&#146;s right, title and
interest in and to each Deposit Account of such Loan Party and any deposits or other sums at any time credited to any such Deposit Account, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Upon
the occurrence and during the continuance of an Event of Default, each Loan Party authorizes and directs each bank or other depository to deliver to the Administrative Agent, on a daily basis, all balances in each Deposit Account (other than an
Exempt Deposit Account) maintained by such Loan Party with such depository for application to the Obligations in accordance with <B>Section&nbsp;5.5</B>. Each Loan Party irrevocably appoints the Administrative Agent as such Loan Party&#146;s
attorney-in-fact to collect such balances to the extent any such delivery is not so made. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <B>Schedule 7.2.1</B> sets forth the account numbers and
locations of all Deposit Accounts (and related lockbox arrangements) of each Loan Party as of the Third Amendment Effective Date. Each Loan Party shall be the sole account holder of each Deposit Account and shall not allow any other Person (other
than the Administrative Agent and, subject to the Intercreditor Agreement, the Revolving Agent or the Canadian Revolving Agent) to have control over a Deposit Account. Contemporaneously with the delivery of quarterly financial statements, each Loan
Party shall notify the Agents of any opening or closing of a Deposit Account since the last such report (or, in the case of the first such report, since the Third Amendment Effective Date) and will provide an updated <B>Schedule 7.2.1</B> to reflect
the same. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Each Concentration Account, each Dominion Account, and each other Deposit Account into which Accounts from credit card processors are
deposited, and, following the occurrence and during the continuance of an Event of Default, at the request of the Administrative Agent, any other Deposit Account (other than Exempt Deposit Accounts) shall be subject to control arrangements or
lockbox or other arrangements reasonably acceptable to the Agents. None of the Agents or the Lenders assume any responsibility to any Loan Party for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or
release with respect to any Payment Items accepted by any bank. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) No Loan Party shall, or shall cause or permit any Subsidiary to, accumulate or
maintain cash in a disbursement account or payroll account, as of any date of determination, in excess of checks outstanding against such account as of that date and amounts necessary to meet minimum balance requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.2.2. <U><B>Cash Collateral</B></U>. Any Cash Collateral may be invested, in the Agents&#146; discretion, in Cash Equivalents, but the Agents shall not have
any duty to do so, regardless of any agreement, understanding or course of dealing with any Loan Party, and shall have no responsibility for any investment or loss. Each Loan Party hereby grants to the Administrative Agent, for the benefit of the
Secured Parties, a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


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security interest in and Lien upon all Cash Collateral held from time to time and all proceeds thereof, as security for the Obligations, whether such Cash Collateral is held in the Cash
Collateral Account or elsewhere. The Administrative Agent may apply Cash Collateral to the payment of any Obligations in accordance with <B>Section&nbsp;5.5</B>. Upon the occurrence and during the continuance of an Event of Default, the Cash
Collateral Account and all Cash Collateral shall be under the sole dominion and control of the Administrative Agent. No Loan Party or other Person claiming through or on behalf of any Loan Party shall have any right to any Cash Collateral, until
Full Payment of all Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.2.3. <U><B>Credit Card Arrangements</B></U>. <B>Schedule 7.2.3</B> sets forth all arrangements to which any Loan Party
is a party as of the Third Amendment Effective Date with respect to the payment to any Loan Party of the proceeds of credit card charges for sales by such Loan Party. The Loan Parties shall deliver to the Administrative Agent Credit Card Agreements
instructing each of their credit card processors to transfer all amounts owing by such processor to a Loan Party directly to the applicable Concentration Account or a Dominion Account, with such Credit Card Agreements to be executed by each relevant
Loan Party and the applicable credit card processor. Contemporaneously with the delivery of quarterly financial statements, each Loan Party shall provide an updated <B>Schedule&nbsp;7.2.3</B> to reflect any additional credit card arrangements to
which any Borrower or any Subsidiary is from time to time a party and shall deliver a Credit Card Agreement to the Agents upon entry into such additional credit card arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.3. <U>Lien on Real Estate.</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.3.1. <U><B>Lien on
Real Estate</B></U>. The Obligations shall also be secured by Mortgages upon all Real Estate owned by the Loan Parties (if any). The Mortgages shall be duly recorded, at the Borrowers&#146; expense, in each office where such recording is required to
constitute a fully perfected Lien on the Real Estate covered thereby. If any Loan Party acquires Real Estate hereafter, the Borrowers shall, within 30 days, execute, deliver and record a Mortgage sufficient to create a Lien in favor of the
Administrative Agent (subject only to the first priority Lien in favor of the Revolving Agent or the Canadian Revolving Agent) on such Real Estate, and shall deliver all Related Real Estate Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.3.2. <U><B>Collateral Assignment of Leases</B></U>. To further secure the prompt payment and performance of all Obligations, each Loan Party hereby
collaterally transfers and assigns to the Administrative Agent, for the benefit of the Secured Parties, all of such Loan Party&#146;s right, title and interest in, to and under all now or hereafter existing leases of real Property to which such Loan
Party is a party, whether as lessor or lessee, and all extensions, renewals and modifications thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.4. <U>Other Collateral.</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.4.1. <U><B>Commercial Tort Claims</B></U>. The Borrowers shall promptly notify the Agents in writing if any Loan Party has a Commercial Tort Claim and, upon
the Administrative Agent&#146;s request, shall promptly execute such documents and take such actions as the Administrative Agent deems appropriate to confer upon the Administrative Agent (for the benefit of the Secured Parties) a duly perfected Lien
upon such claim (subject only to the first priority Lien of the Revolving Agent or the Canadian Revolving Agent, as applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.4.2. <U><B>Certain
After-Acquired Collateral</B></U>. The Borrowers shall promptly notify the Agents in writing if, after the Third Amendment Effective Date, any Loan Party obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper,
Documents, Instruments, material Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon the Administrative Agent&#146;s request, shall promptly execute such documents and take such actions as the Administrative Agent deems
appropriate to effect the Administrative Agent&#146;s duly perfected Lien upon such Collateral (subject only to the Lien of the Revolving Agent or the Canadian Revolving Agent, as applicable), including obtaining any
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
appropriate possession, control agreement, Lien Waiver or Lien Priority Agreement. If any Collateral is in the possession of a third party, at the Administrative Agent&#146;s request, the
applicable Loan Party shall obtain an acknowledgment that such third party holds the Collateral for the benefit of the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.5.
<U>No Assumption of Liability</U></B>. The Lien on Collateral granted hereunder is given as security only and shall not subject any Agent or any Secured Party to, or in any way modify, any obligation or liability of the Loan Parties relating to any
Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.6. <U>Further Assurances</U>.</B> Promptly upon request, the Loan Parties shall deliver such instruments, assignments, title
certificates, or other documents or agreements, and shall take such actions, as the Administrative Agent deems appropriate under Applicable Law to evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this
Agreement. Each Loan Party authorizes the Administrative Agent to file any financing statement that indicates the Collateral as &#147;all assets&#148; or &#147;all personal property&#148; of such Loan Party, or words to similar effect, and ratifies
any action taken by the Administrative Agent before the Third Amendment Effective Date to effect or perfect its Lien on any Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.7.
<U>Guarantees by the Borrowers</U>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.1. <B><U>Guarantees</U></B>. For value received and hereby acknowledged and as an inducement to the Lenders
to make the Term Loan, each Borrower hereby unconditionally and irrevocably guarantees (i)&nbsp;the full punctual payment when due, whether at stated maturity, by acceleration or otherwise, of all Obligations of each other Loan Party now or
hereafter existing whether for principal, interest, fees, expenses or otherwise, and (ii)&nbsp;the strict performance and observance by each other Loan Party of all agreements, warranties and covenants applicable to such other Loan Party in this
Agreement and the other Loan Documents and (iii)&nbsp;the obligations of each other Loan Party under this Agreement and the other Loan Documents (such Obligations collectively being hereafter referred to as the &#147;<U>Guaranteed
Obligations</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.2. <B><U>Guarantees Absolute</U></B><B>.</B> Each Borrower guarantees that the Guaranteed Obligations will be paid strictly
in accordance with the terms hereof, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Lenders with respect thereto. The liability of each Borrower under its
respective guaranty of the Guaranteed Obligations shall be absolute and unconditional irrespective of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) any Loan Party&#146;s lack of authorization,
execution, validity or enforceability of this Agreement or any other Loan Document and any amendment hereof (with regard to such Guaranteed Obligations), or any other obligation, agreement or instrument relating thereto (it being agreed by each
Borrower that its Guaranteed Obligations shall not be discharged prior to Full Payment of all of the Obligations) or any failure to obtain any necessary governmental consent or approvals or necessary third party consents or approvals; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) any Agent&#146;s or any Lender&#146;s exercise or enforcement of, or failure or delay in exercising or enforcing, legal proceedings to collect the
Obligations or the Guaranteed Obligations or any power, right or remedy with respect to any of the Obligations or the Guaranteed Obligations, including (i)&nbsp;any suspension of any Agent&#146;s or any Lender&#146;s right to enforce any
Borrower&#146;s Guaranteed Obligations, or (ii)&nbsp;any change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations or any other amendment or waiver of or any consent to departure from this
Agreement or the other Loan Documents (with regard to such Guaranteed Obligations) or any other agreement or instrument governing or evidencing any of the Guaranteed Obligations; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) any exchange, release, unenforceability, non-opposability or non-perfection of any Collateral, or any release
or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) any change in ownership of
any Loan Party; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) any acceptance of any partial payment(s) from any Loan Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition, assignment for the benefit of creditors, appointment of a receiver,
interim receiver, receiver and manager, monitor or trustee for all or any part of any Loan Party&#146;s assets; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) any assignment, participation or
other transfer or reallocation, in whole or in part, of any Agent&#146;s or any Lender&#146;s interest in and rights under this Agreement or any other Loan Document, or of any Agent&#146;s or any Lender&#146;s interest in the Obligations or the
Guaranteed Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) any cancellation, renunciation or surrender of any pledge, guaranty or any debt instrument evidencing the Obligations or the
Guaranteed Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) any Agent&#146;s or any Lender&#146;s vote, claim, distribution, election, acceptance, action or inaction in any proceeding
under any Insolvency Proceeding related to the Obligations or the Guaranteed Obligations; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) any other action or circumstance, other than payment,
which might otherwise constitute a defense available to, or a discharge of, any Borrower in respect of its Guaranteed Obligations (other than the defense of payment in full). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The guarantees contained in this <B>Section&nbsp;7.7</B> shall continue to be effective or be reinstated, as the case may be,
if at any time any payment of any Guaranteed Obligation is rescinded or must otherwise be returned by the Agents or any Lender upon the insolvency, bankruptcy or reorganization of any Loan Party or otherwise, all as though such payment had not been
made. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.3. <U><B>Effectiveness; Enforcement</B></U>. The guarantee of each Borrower hereunder shall be effective and shall be deemed to be made with
respect to the Term Loan and the other Obligations. No invalidity, irregularity or unenforceability by reason of any Insolvency Proceeding, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect any
liability of any Loan Party, and no defect in or insufficiency or want of powers of any Loan Party or irregular or improperly recorded exercise thereof, shall impair, affect, be a defense to or claim against either guarantee. Each guarantee
hereunder is a continuing guarantee and shall (a)&nbsp;survive any termination of this Agreement, and (b)&nbsp;remain in full force and effect until Full Payment of the Obligations to which such guarantee relates. The guarantee of each Borrower
under this Agreement is made for the benefit of the Agents and the Lenders and their successors and assigns, and may be enforced from time to time as often as occasion therefor may arise and without requirement on the part of the Agents or the
Lenders first to exercise any rights against any other Loan Party, or to resort to any other source or means of obtaining payment of any of the Guaranteed Obligations or to elect any other remedy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.4. <B><U>Waiver</U>.</B> Each Borrower hereby renounces to the benefits of division and discussion with respect to their respective guarantees. Each
Borrower hereby waives promptness, diligence, protest, notice of protest, all suretyship defenses, notice of acceptance and any other notice with respect to any of its Guaranteed Obligations and its guarantee and any requirement that any Agent or
any Lender secure, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


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render enforceable or opposable, perfect or protect any security interest or Lien on any property subject thereto or exhaust any right or take any action against any other Loan Party or any other
Person or any Collateral. Each Borrower also irrevocably waives, to the fullest extent permitted by Applicable Law, all defenses which at any time may be available to it in respect of its Guaranteed Obligations by virtue of any statute of
limitations, valuation, stay, moratorium law or similar law now or hereinafter in effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.5. <B><U>Subordination; Subrogation</U></B><B>.</B> Until
the Full Payment of all of the Obligations, each Borrower agrees not to exercise, and each Borrower hereby waives, any rights against any other Loan Party as a result of payment by such Borrower hereunder, or payment under the Montrovest LC by way
of subrogation, reimbursement, restitution, contribution or otherwise, and such Borrower will not prove any claim in competition with any Agent or any Lender in respect of any payment hereunder in any proceedings of any nature in any Insolvency
Proceeding; no Borrower will claim any set-off, recoupment or counterclaim against any other Loan Party in respect of any liability of a Loan Party to any other Loan Party; and each Borrower waives any benefit of and any right to participate in the
Montrovest LC or any Collateral which may be held by any Secured Party. Each Borrower agrees that, after the occurrence and during the continuance of any Default or Event of Default, such Borrower will not demand, sue for or otherwise attempt to
collect any Debt of any other Loan Party to such Borrower until Full Payment of all of the Obligations. If, notwithstanding the foregoing sentence, any Borrower shall collect, enforce or receive any amounts in respect of the Debt of any other Loan
Party in violation of the foregoing sentence while any Obligations of such other Loan Party are still outstanding or while any Commitments are outstanding, such amounts shall be collected, enforced and received by such Borrower as trustee for the
Administrative Agent and the Lenders and be paid over to the Administrative Agent, for the benefit of the Agents and the Lenders on account of the Obligations of such Borrower without affecting in any manner the liability of such Borrower under the
other provisions hereof. The provisions of this section shall survive the expiration or termination of this Agreement and the other Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.6. <B><U>Payments</U></B><B>.</B> Each Borrower agrees to pay its Guaranteed Obligations in the currency in which such Obligation is payable by the other
Loan Parties and all payments by such Borrower hereunder shall be made without setoff or counterclaim and shall be free and clear of and without deduction for any foreign or domestic Taxes, compulsory loans, restrictions or conditions of any nature
now or hereafter imposed or levied by any jurisdiction or any political subdivision thereof or taxing or other authority therein unless such Borrower is required by Applicable Law to make such deduction or withholding. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.7.7. <U><B>Receipt of Information</B></U>. Each Borrower acknowledges and confirms that it itself has established its own adequate means of obtaining from
the other Loan Parties on a continuing basis all information desired by such Borrower concerning the financial condition of the other Loan Parties and that such Borrower will look to the other Loan Parties and not to the Agents or any Lender in
order to keep adequately informed of changes in the such other Loan Parties&#146; financial condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.8.</B> <B><U>Guarantees by the
Subsidiaries</U></B><B>.</B> The Obligations shall also be guaranteed pursuant to the terms of each other Guaranty. The obligations of the Guarantors under each Guaranty are in turn secured by a perfected security interest in and Lien upon (subject
only to (i)&nbsp;the first priority security interest and Lien in favor of the Revolving Agent or the Canadian Revolving Agent, and (ii)&nbsp;Permitted Liens entitled to priority under Applicable Law) all of the assets of each such Guarantor,
whether now owned or hereafter acquired, pursuant to the terms of this Agreement and the Security Documents to which such Guarantor is a party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.9.
<U>Intercompany Debt Subordination Arrangements</U></B>. Each Loan Party agrees that, after the occurrence and during the continuance of any Default or Event of Default, such Loan Party will not demand, sue for or otherwise attempt to collect any
Debt of the other Loan Party owing to such Loan Party until Full Payment of the Obligations. If, notwithstanding the foregoing sentence, any Loan Party </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


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shall collect, enforce or receive any amounts in respect of the Debt of the other Loan Party in violation of the foregoing sentence prior to the Full Payment of the Obligations, such amounts
shall be collected, enforced and received by such Loan Party as trustee for the Lenders and the Agents and be paid over to the Administrative Agent, for the benefit of the Lenders and the Agents on account of the Obligations of the Loan Parties
without affecting in any manner the liability of the Loan Parties under the other provisions hereof or of any other Loan Document. In addition, until the Full Payment of the Obligations, each Loan Party agrees not to exercise, and each Loan Party
hereby waives, any rights against any other Loan Party as a result of payment by such Loan Party hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and such Loan Party will not prove any claim in competition
with any Agent or any Lender in respect of any payment hereunder in any proceedings of any nature in any Insolvency Proceeding; no Loan Party will claim any set-off, recoupment or counterclaim against the other Loan Party in respect of any liability
of one Loan Party to the other Loan Party; and each Loan Party waives any benefit of and any right to participate in any Collateral which may be held by any Secured Party. The provisions of this <B>Section&nbsp;7.9</B> shall survive the expiration
or termination of this Agreement and the other Loan Documents. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;8.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>COLLATERAL ADMINISTRATION</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.1. <U>Borrowing Base Certificates</U></B>. Each Borrower
shall deliver to the Agents, on each Business Day, a Borrowing Base Certificate setting forth, among other things, the Term Loan Borrowing Capacity and the Revolving Borrowing Capacity as at the immediately preceding Business Day; <U>provided</U>
that the Borrowers shall only be required to report Eligible Inventory, Eligible Major Credit Card Receivables, and Eligible Private Label and Corporate Accounts (collectively, the &#147;<U>Borrowing Base Collateral</U>&#148;) weekly, such reporting
to be updated not later than Wednesday of each week, and reflecting such Borrowing Base Collateral as at the end of the week most recently ended. All calculations of Revolver Excess Availability shall originally be made by the Borrowers and
certified by a Senior Officer (with such certification to be in such Person&#146;s capacity as a Senior Officer of a Loan Party and not in such Person&#146;s individual capacity); <U>provided</U> that until the Full Payment (as defined in the
Revolving Credit Agreement) of the Revolving Loan Debt and the termination of the &#147;Commitments&#148; (as defined in the Revolving Credit Agreement), the Revolving Agent (subject to the limitations contained in the Intercreditor Agreement) may
from time to time review and adjust (and thereafter, the Agents may review and adjust) any such calculation (a)&nbsp;to reflect its reasonable estimate of declines in value of any Collateral included in any of the Term Loan Borrowing Capacity due to
collections received in the Concentration Accounts or to reflect any events or circumstances affecting such Collateral; (b)&nbsp;to adjust advance rates to reflect changes in dilution, quality, mix and other factors affecting Collateral included in
any of the Term Loan Borrowing Capacity; (c)&nbsp;to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserves and (d)&nbsp;to address the Montrovest LC and any changes to the
Montrovest LC Effective Advance Rate. Each Borrowing Base Certificate delivered by the Borrowers shall be accompanied by a certificate, in form and substance satisfactory to the Agents and certified by a Senior Officer, as to the balances of each
Deposit Account. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.2. <U>Account Verification</U></B>. Whether or not a Default or Event of Default exists, the Administrative Agent shall have the
right at any time, in the name of the Administrative Agent, any designee of the Administrative Agent or any Loan Party to verify the validity, amount or any other matter relating to any Accounts of the Loan Parties by mail, telephone or otherwise.
The Loan Parties shall cooperate fully with the Administrative Agent in an effort to facilitate and promptly conclude any such verification process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.3. <U>Administration of Inventory</U>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.3.1.
<U><B>Records and Reports of Inventory</B></U>. Each Loan Party shall keep accurate and complete records of its Inventory and the Borrowers shall submit to the Administrative Agent inventory reports as provided
</P>
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in <B>Section&nbsp;10.1.1</B>. Each Borrower, Birks US and Mayor&#146;s Florida shall conduct periodic cycle counts covering the entire Inventory at least once per calendar year (and on a more
frequent basis if requested by any Agent when an Event of Default exists) consistent with historical practices, and shall provide to the Agents a report based on each such inventory and count promptly upon completion thereof, together with such
supporting information as any Agent may reasonably request. The Agents may participate in and observe each inventory or physical count. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.3.2.
<U><B>Returns of Inventory</B></U>. No Loan Party shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a)&nbsp;such return is in the Ordinary Course of Business or (b)&nbsp;no Event of
Default exists or would result therefrom. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.3.3. <U><B>Acquisition, Sale and Maintenance</B></U>. No Loan Party shall acquire or accept any Inventory
which is part of the Term Loan Borrowing Capacity on consignment or approval. Other than as set forth in <B>Schedule 8.3.3</B>, no Loan Party shall sell any Inventory on consignment or approval in which such Loan Party acts as consignor unless
otherwise expressly permitted by the Agents in their sole discretion. The Loan Parties shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity with all
Applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases) at all locations where Collateral is located, stored, used or held. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.4. <U>[Reserved]</U>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.5. <U>General
Provisions</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.5.1. <U><B>Location of Collateral</B></U>. All tangible items of Collateral (other than Inventory in transit, Inventory located on
the premises of a processor who executed a Lien Waiver in favor of the Administrative Agent, and certificated securities in the possession of (i)&nbsp;the Administrative Agent, or (ii)&nbsp;the Revolving Agent or the Canadian Revolving Agent, as
agent for the Administrative Agent in accordance with the terms of the Intercreditor Agreement), shall at all times be kept by the Loan Parties at the business locations set forth in <B>Schedule 8.5.1</B>, except that the Loan Parties may move
Collateral to another location in the United States (or, with respect to Collateral owned by the Canadian Borrower, Canada), so long as, if such Collateral has an aggregate value of more than the Dollar Equivalent of $500,000, the Borrower Agent has
(i)&nbsp;provided the Agents with 30 Business Days&#146; prior written notice thereof, and (ii)&nbsp;other than with respect to Collateral in which the Lien in favor of the Administrative Agent may be perfected solely by filing with the Secretary of
State (or similar Governmental Authority) of the applicable Loan Party&#146;s jurisdiction of organization or other applicable jurisdiction as required by Applicable Law and has been so perfected, delivered to the Administrative Agent evidence that
all filings, recordings and registrations that are necessary or desirable to perfect the Lien in favor of the Administrative Agent, for the benefit of the Secured Parties, have been made (it is acknowledged that so long as all filings, recordings
and registrations made against the US Loan Parties that are necessary or desirable to perfect the security interest in favor of the Applicable Agent on record as of the Third Amendment Effective Date remain on record, no additional filings with the
Secretary of State of the State of Incorporation of each such US Loan Party shall be required hereunder). Contemporaneously with the delivery of quarterly financial statements, each Loan Party shall provide the Agents with an updated <B>Schedule
8.5.1</B> to reflect the locations of all tangible items of Collateral, other than Inventory in transit and certificated securities, which updated <B>Schedule 8.5.1</B> shall clearly indicate which locations are new since the last delivery of an
updated <B>Schedule 8.5.1</B>. The chief executive offices and other places of business of each Loan Party and Subsidiary as of the Third Amendment Effective Date are shown on <B>Schedule 8.5.1</B>. In the event of any change in the chief executive
offices and other places of business of any Loan Party or any Subsidiary, the Borrowers shall deliver to the Agents an updated <B>Schedule 8.5.1.</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.5.2. <U><B>Insurance of Collateral; Condemnation Proceeds</B></U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Each Loan Party shall maintain insurance with respect to the Collateral, covering casualty, hazard, public liability, theft, malicious mischief, and such
other risks, in such amounts, with such endorsements, and with such insurers (rated A or better by A.M. Best Rating Guide) as are reasonably satisfactory to the Agents. All proceeds of Collateral under each policy shall be payable to the
Administrative Agent. From time to time upon request, the Loan Parties shall deliver to the Administrative Agent the originals or certified copies of their insurance policies and updated flood plain searches. As soon as practicable and in any event
by the last day of each Fiscal Year, the Loan Parties shall deliver to the Agents a report in form and substance reasonably satisfactory to the Agents outlining all material insurance coverage maintained as of the date of such report by the Loan
Parties and all material insurance coverage planned to be maintained by the Loan Parties in the immediately succeeding Fiscal Year. Unless the Agents shall agree otherwise, each policy shall include reasonably satisfactory endorsements
(i)&nbsp;showing the Administrative Agent as loss payee or additional insured, as appropriate; (ii)&nbsp;requiring 30 days&#146; prior written notice to the Administrative Agent in the event of cancellation of the policy for any reason whatsoever;
and (iii)&nbsp;specifying that the interest of the Administrative Agent shall not be impaired or invalidated by any act or neglect of any Loan Party or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than
are permitted by the policy. If any Loan Party fails to provide and pay for such insurance, the Agents may, at their option, but shall not be required to, procure the insurance and charge the Loan Parties therefor. Each Loan Party agrees to deliver
to the Agents, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, the Loan Parties may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to the
Administrative Agent. If an Event of Default exists, only the Agents shall be authorized to settle, adjust and compromise such claims. Without limiting the foregoing, the Loan Parties will (a)&nbsp;keep all of their physical property (and the
property of their Subsidiaries) insured with casualty or physical hazard insurance on an &#147;all risks&#148; basis, with broad form flood and, to the extent consistent with prudent business practice for the location in which such property is
situated, earthquake coverages and electronic data processing coverage, with a full replacement cost endorsement and an &#147;agreed amount&#148; clause in an amount equal to 100% of the full replacement cost of such property, (b)&nbsp;maintain all
such workers&#146; compensation or similar insurance as may be required by Applicable Law and (c)&nbsp;maintain, in amounts and with deductibles equal to those generally maintained by businesses engaged in similar activities in similar geographic
areas, general public or civil liability insurance against claims of bodily injury, death or property damage occurring, on, in or about the properties of the Loan Parties and their Subsidiaries; business interruption insurance; and product liability
insurance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Any proceeds of insurance (other than proceeds from workers&#146; compensation or D&amp;O insurance) and any awards arising from
condemnation or expropriation of any Collateral shall be paid to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.5.3. <U><B>Protection of Collateral</B></U>. All expenses of
protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Taxes (other than Excluded Taxes) payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by
the Administrative Agent to any Person to realize upon any Collateral, shall be borne and paid by the Loan Parties. The Agents shall not be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto
(except for reasonable care in its custody while Collateral is in an Agent&#146;s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but
the same shall be at the Loan Parties&#146; sole risk. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.5.4. <U><B>Defense of Title to Collateral</B></U>. Each Loan Party shall at all times defend its title to
Collateral and the Administrative Agent&#146;s Liens therein against all Persons, claims and demands whatsoever, except Permitted Liens. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.6.
</B><U><B>Power of Attorney</B></U>. Each Loan Party hereby irrevocably constitutes and appoints the Administrative Agent (and all Persons designated by the Administrative Agent) as such Loan Party&#146;s true and lawful attorney (and agent-in-fact)
for the purposes provided in this <B>Section&nbsp;8.6</B>. The Administrative Agent, or the Administrative Agent&#146;s designee, may, without notice and in either its or a Loan Party&#146;s name, but at the cost and expense of the Loan Parties:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Endorse a Loan Party&#146;s name on any Payment Item or other proceeds of Collateral (including proceeds of insurance) that come into the
Administrative Agent&#146;s possession or control; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) During an Event of Default, (i)&nbsp;notify any Account Debtors of the assignment of their
Accounts, demand and enforce payment of Accounts, by legal proceedings or otherwise, and generally exercise any rights and remedies with respect to Accounts; (ii)&nbsp;settle, adjust, modify, compromise, discharge or release any Accounts or other
Collateral, or any legal proceedings brought to collect Accounts or Collateral; (iii)&nbsp;sell or assign any Accounts and other Collateral upon such terms, for such amounts and at such times as the Administrative Agent deems advisable;
(iv)&nbsp;take control, in any manner, of any proceeds of Collateral; (v)&nbsp;prepare, file and sign a Loan Party&#146;s name to a proof of claim or other document in a bankruptcy of an Account Debtor, or to any notice, assignment or satisfaction
of Lien or similar document; (vi)&nbsp;receive, open and dispose of mail addressed to a Loan Party, and notify postal authorities to change the address for delivery thereof to such address as the Administrative Agent may designate;
(vii)&nbsp;endorse any Chattel Paper, Document, Instrument, invoice, freight bill, bill of lading, or similar document or agreement relating to any Accounts, Inventory or other Collateral; (viii)&nbsp;use a Loan Party&#146;s stationery and sign its
name to verifications of Accounts and notices to Account Debtors; (ix)&nbsp;use the information recorded on or contained in any data processing equipment and computer hardware and software relating to any Collateral; (x)&nbsp;make and adjust claims
under policies of insurance; (xi)&nbsp;take any action as may be necessary or appropriate to obtain payment under any letter of credit or banker&#146;s acceptance for which a Loan Party is a beneficiary; and (xii)&nbsp;take all other actions as the
Administrative Agent deems appropriate to fulfill any Loan Party&#146;s obligations under the Loan Documents. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;9.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>REPRESENTATIONS AND WARRANTIES</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9.1. <U>General Representations and Warranties</U>.</B>
To induce the Agents and the Lenders to enter into this Agreement and to make available the Term Loan, each Loan Party represents and warrants that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.1. <U><B>Organization and Qualification</B></U>. Each Loan Party and Subsidiary is duly organized, validly existing and in good standing or subsisting, as
applicable under the laws of the jurisdiction of its organization. Each Loan Party and Subsidiary is duly qualified, authorized to do business and in good standing as a foreign corporation in each jurisdiction where failure to be so qualified could
reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.2. <U><B>Power and Authority</B></U>. Each Loan Party is duly authorized to own and operate
its properties, to carry on its business as now conducted and as proposed to be conducted, and to execute, deliver and perform the Loan Documents to which it is a party. The execution, delivery and performance of the Loan Documents by each Loan
Party have been duly authorized by all necessary action, and do not (a)&nbsp;require any consent or approval of any holders of Capital Stock of any Loan Party, other than those already obtained; (b)&nbsp;contravene the Organizational Documents of
any Loan Party; (c)&nbsp;violate or cause a material default under any Applicable Law or Material Contract; or (d)&nbsp;result in or require the imposition of any Lien (other than Permitted Liens and Liens granted hereunder) on any Property of any
Loan Party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.3. <U><B>Enforceability</B></U>. Each Loan Document is a legal, valid and binding obligation of each Loan
Party party thereto, enforceable against each Loan Party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors&#146; rights generally and by general
equitable principles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.4. <U><B>Capital Structure</B></U>. <B>Schedule 9.1.4</B> shows, for each Loan Party and Subsidiary as of the Third Amendment
Effective Date, its name, its jurisdiction of organization, its authorized and issued Capital Stock, the holders of its Capital Stock, whether such entity is a Loan Party and all agreements binding on such holders with respect to their Capital
Stock. Each Loan Party has good title in its interest in the Capital Stock of its Subsidiaries, subject only to the Administrative Agent&#146;s Liens and Liens in favor of the Revolving Agent or the Canadian Revolving Agent, and all such Capital
Stock is duly issued, fully paid and non-assessable. Except as set forth in <B>Schedule 9.1.4</B>, there are no outstanding options to purchase, warrants, subscription rights, agreements to issue or sell, convertible interests, phantom rights or
powers of attorney relating to any Capital Stock of any Loan Party or any Subsidiary. Each Subsidiary of a Borrower is a Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.5.
<U><B>Corporate Names; Locations</B></U>. During the five years preceding the Third Amendment Effective Date, except as shown on <B>Schedule 9.1.5</B>, no Loan Party or Subsidiary has been known as or used any corporate, fictitious or trade names,
has been the surviving corporation of a merger, amalgamation or combination, or has acquired any substantial part of the assets of any Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.6.
<U><B>Title to Properties; Priority of Liens; Investments</B></U>. (a)&nbsp;Each Loan Party and Subsidiary has good and marketable title to (or valid leasehold interests in) all of its Real Estate, and good title to all of its personal Property,
including all Property reflected in any financial statements delivered to the Agents or the Lenders, in each case free of Liens except Permitted Liens. Each Loan Party and Subsidiary has paid and discharged all lawful claims that, if unpaid, could
become a Lien on its Properties, other than Permitted Liens and except for such claims as are being Properly Contested. All Liens of the Administrative Agent on the Collateral are duly perfected Liens, subject only to Permitted Liens that are
expressly allowed to have priority over the Administrative Agent&#146;s Liens. As of the Third Amendment Effective Date, <B>Schedule 9.1.6(a)</B> contains a true, accurate and complete list of each Loan Party&#146;s Real Estate assets, including all
leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) affecting such Real Estate assets. The Borrowers do not have knowledge of any default that has occurred and
is continuing under any agreement listed on <B>Schedule 9.1.6(a)</B> (except where the consequences, direct or indirect, of such default, if any, could not reasonably be expected to have a Material Adverse Effect), and each such agreement
constitutes the legally valid and binding obligation of each applicable Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or
similar laws relating to or limiting creditors&#146; rights generally or by equitable principles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <B>Schedule 9.1.6(b)</B> sets forth a complete and
accurate list of all Investments held by any Loan Party or any Subsidiary of a Loan Party on the date hereof, showing as of the date hereof the amount, obligor or issuer and maturity, if any, thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.7. <U><B>Security Documents</B></U>. The provisions of the Security Documents are effective to create in favor of the Administrative Agent for the benefit
of the Secured Parties a legal, valid and enforceable Lien (subject only to (i)&nbsp;Liens in favor of the Revolving Agent or the Canadian Revolving Agent, and (ii)&nbsp;Permitted Liens entitled to priority under Applicable Law) on all right, title
and interest of the respective Loan Parties in the Collateral described therein. Except for filings completed on or prior to the Third Amendment Effective Date and as contemplated hereby and by the Security Documents, no filing or other action will
be necessary to perfect or protect such Liens. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.8. <U><B>Financial Statements</B></U>. The consolidated and, if applicable, combined balance sheets, and
related statements of income, cash flow and shareholder&#146;s equity, of the Loan Parties and Subsidiaries that have been and are hereafter delivered to the Agents and the Lenders, pursuant to <B>Sections 6.1</B> and <B>10.1.2</B> or otherwise, are
prepared in accordance with GAAP and fairly present the financial positions and results of operations of the Loan Parties and Subsidiaries at the dates and for the periods indicated, subject, in the case of interim statements, to normal year-end
adjustments and the absence of footnotes. All projections delivered from time to time to the Agents and the Lenders have been prepared in good faith, based on reasonable assumptions in light of the circumstances at such time. Since March&nbsp;29,
2014, there has been no change in the condition, financial or otherwise, of any Loan Party or any Subsidiary that could reasonably be expected to have a Material Adverse Effect. Each Loan Party and Subsidiary is Solvent. As of the Third Amendment
Effective Date and except for obligations set forth on <B>Schedule 9.1.8</B> or as otherwise disclosed to the Agents, neither the Loan Parties nor any of their respective Subsidiaries have any contingent liability or liability for Taxes, long-term
lease or unusual forward or long-term commitment that is not reflected in financial statements referred to in this <B>Section&nbsp;9.1.8</B> or the notes thereto and which in any such case is material in relation to the business, operations,
properties, assets, or condition (financial or otherwise) of the Loan Parties and their Subsidiaries taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.9. <U><B>Surety
Obligations</B></U>. No Loan Party or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.10. <B><U>Taxes</U></B>. Each Loan Party and Subsidiary has timely filed all federal, state, provincial, local and foreign tax returns and other reports
that it is required by law to file, and has timely paid, or made provision for the payment of, all Taxes upon it, its income and its Properties that are due and payable, whether or not reflected on a tax return, and has remitted all Taxes required
to have been remitted by it, except to the extent being Properly Contested. The provision for Taxes on the books of each Loan Party and Subsidiary is adequate for all years not closed by applicable statutes, and for its current Fiscal Year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.11. <B><U>Brokers</U></B>. There are no brokerage commissions, finder&#146;s fees or investment banking fees payable in connection with any transactions
contemplated by the Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.12. <U><B>Intellectual Property</B></U>. Each Loan Party and Subsidiary owns or has the lawful right to use all
Intellectual Property necessary for the conduct of its business, without conflict with any rights of others. There is no pending or, to any Loan Party&#146;s knowledge, threatened material Intellectual Property Claim with respect to any Loan Party,
any Subsidiary or any of their Property (including any Intellectual Property). All Intellectual Property owned by any Loan Party or any Subsidiary and registered with the U.S. Patent and Trademark Office, the Canadian Intellectual Property Office or
any other applicable Governmental Authority is identified on <B>Schedule 9.1.12</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.13. <U><B>Governmental Approvals; Other Consents</B></U>. Each
Loan Party and Subsidiary has, is in compliance with, and is in good standing with respect to, all Governmental Approvals necessary to conduct its business and to own, lease and operate its Properties, except to the extent compliance with such
Governmental Approvals could not reasonably be expected to result in a Material Adverse Effect. All necessary material import, export or other licenses, permits or certificates for the import or handling of any goods or other Collateral have been
procured and are in effect, and the Loan Parties and Subsidiaries have complied with all applicable foreign and domestic laws with respect to the shipment and importation of any goods or Collateral, except where noncompliance could not reasonably be
expected to have a Material Adverse Effect. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a)&nbsp;the
execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the consummation of the transactions </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


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contemplated hereby, (b)&nbsp;the grant by any Loan Party of the Liens granted by it pursuant to the Security Documents, (c)&nbsp;the perfection or maintenance of the Liens created under the
Security Documents, other than UCC and PPSA filings that will be made on or prior to the Third Amendment Effective Date or on such future date as may be necessary to maintain such perfection, or (d)&nbsp;the exercise by any Agent or any Lender of
its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Security Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.14. <U><B>Compliance with
Laws</B></U>. Each Loan Party and Subsidiary has duly complied, and its Properties and business operations are in compliance with all Applicable Law, except where non-compliance could not reasonably be expected to have a Material Adverse Effect.
There have been no citations, notices or orders of non-compliance issued to any Loan Party or any Subsidiary under any Applicable Law, the receipt of which could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.15. <U><B>Compliance with Environmental Laws</B></U>. Except as disclosed on <B>Schedule 9.1.15</B> and except to the extent any of the following could
not reasonably be expected to result in a Material Adverse Effect, no Loan Party&#146;s or Subsidiary&#146;s past or present operations, Real Estate or other Properties are subject to any federal, state, provincial or local investigation to
determine whether any remedial action is needed to address any environmental pollution, hazardous material or environmental clean-up. No Loan Party or Subsidiary has received any Environmental Notice the receipt of which could reasonably be expected
to result in a Material Adverse Effect. No Loan Party or Subsidiary has any material contingent liability with respect to any Environmental Release, environmental pollution or hazardous material on any Real Estate now or previously owned, leased or
operated by it in any case that could reasonably be expected to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.16. <U><B>Burdensome Contracts</B></U>. No Loan
Party or Subsidiary is a party or subject to any contract, agreement or charter restriction that could reasonably be expected to have a Material Adverse Effect. No Loan Party or Subsidiary is party or subject to any contract, agreement or charter
restriction which prohibits the execution or delivery of any Loan Documents by a Loan Party or the performance by a Loan Party of any obligations thereunder, except as shown on <B>Schedule&nbsp;9.1.16</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.17. <U><B>Litigation</B></U>. Except as shown on <B>Schedule 9.1.17</B>, there are no proceedings or investigations pending or, to any Loan Party&#146;s
knowledge, threatened against any Loan Party or any Subsidiary, or any of their businesses, operations, Properties, or conditions, that (a)&nbsp;relate to any Loan Documents or transactions contemplated thereby; (b)&nbsp;could reasonably be expected
to result in liabilities in excess of $1,000,000 or (c)&nbsp;could reasonably be expected to have a Material Adverse Effect. No Loan Party or Subsidiary is in default with respect to any order, injunction or judgment of any Governmental Authority
that could reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.18. <B><U>Insurance; No Casualty</U></B><B>.</B> The properties of each Loan
Party and its Subsidiaries are insured with financially sound and reputable insurance companies that are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where such Loan Party or the applicable Subsidiary operates. Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire,
explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.19. <U><B>No Defaults; Material Contracts</B></U>. No event or circumstance has occurred or
exists as of the date of this Agreement that constitutes a Default or Event of Default. <B>Schedule 9.1.19</B> contains a true, correct and complete list of all Material Contracts, and except as described thereon, all such Material
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


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Contracts are in full force and effect. No Loan Party or Subsidiary is in default, and no event or circumstance has occurred or exists that with the passage of time or giving of notice would
constitute a default, under any Material Contract or in the payment of borrowed money. There is no basis upon which any party (other than a Loan Party or the Subsidiary) could terminate a Material Contract prior to its scheduled termination date.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.20. <U><B>Employee Benefit Plans; Canadian Plans</B></U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Each Employee Benefit Plan and each Guaranteed Pension Plan has been maintained and operated in compliance in all material respects with the provisions of
ERISA and all Applicable Pension Legislation and, to the extent applicable, the Code, including but not limited to the provisions thereunder respecting prohibited transactions and the bonding of fiduciaries and other persons handling plan funds as
required by &#167;412 of ERISA. The Borrowers have heretofore delivered to the Agents the most recently completed annual report, Form 5500, with all required attachments, and actuarial statement required to be submitted under &#167;103(d) of ERISA,
with respect to each Guaranteed Pension Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) No Employee Benefit Plan, which is an employee welfare benefit plan within the meaning of &#167;3(1) or
&#167;3(2)(B) of ERISA, provides benefit coverage subsequent to termination of employment, except as required by Title I, Part 6 of ERISA or the applicable state insurance laws. The Borrowers may terminate each such Employee Benefit Plan at any time
(or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrowers without liability to any Person other than for claims arising prior to termination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Each contribution required to be made to a Guaranteed Pension Plan under the Pension Funding Rules, has been timely made. No waiver of the minimum funding
standards or extension of amortization periods under the Pension Funding Rules has been received with respect to any Guaranteed Pension Plan, and neither the Borrowers nor any ERISA Affiliate is obligated to or has posted security in connection with
an amendment to a Guaranteed Pension Plan pursuant to &#167;436 of the Code or, prior to the effective date as to such Guaranteed Pension Plan of the Pension Protection Act of 2006, &#167;307 of ERISA or &#167;401(a)(29) of the Code. No liability to
the PBGC (other than required insurance premiums, all of which have been timely paid) has been incurred by the Borrowers or any ERISA Affiliate with respect to any Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other than
an ERISA Reportable Event as to which the requirement of 30 days&#146; notice has been waived under PBGC &#167;4043), or any other event or condition which presents a material risk of termination of any Guaranteed Pension Plan by the PBGC. Based on
the latest valuation of each Guaranteed Pension Plan (which in each case occurred within twelve months of the date of this representation), and on the actuarial methods and assumptions employed for that valuation, the aggregate benefit liabilities
of all such Guaranteed Pension Plans within the meaning of &#167;4001 of ERISA did not exceed the aggregate value of the assets of all such Guaranteed Pension Plans, disregarding for this purpose the benefit liabilities and assets of any Guaranteed
Pension Plan with assets in excess of benefit liabilities, by more than $500,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Neither the Borrowers nor any ERISA Affiliate has incurred any
material liability (including secondary liability) to any Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan under &#167;4201 of ERISA or as a result of a sale of assets described in &#167;4204 of ERISA.
Neither the Borrowers nor any ERISA Affiliate has been notified that any Multiemployer Plan is in reorganization or insolvent under and within the meaning of &#167;4241 or &#167;4245 of ERISA or is at risk of entering reorganization or becoming
insolvent, or that any Multiemployer Plan intends to terminate or has been terminated under &#167;4041A of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) None of the Canadian Loan Parties
or any of their Subsidiaries have any Canadian Plan other than those listed on <B>Schedule&nbsp;9.1.20</B>, and all monthly and other payments in respect of such Canadian Plans </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


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which are pension plans (on account of contributions, special contributions or unfunded liability or solvency deficiencies) or otherwise are accurately set forth in <B>Schedule 9.1.20</B>. No
Canadian Plan has been terminated or partially terminated or is insolvent or in reorganization, nor have any proceedings been instituted to terminate, in whole or in part, or reorganize any Canadian Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) None of the Canadian Loan Parties or any of their Subsidiaries have ceased to participate (in whole or in part) as a participating employer in any
Canadian Plan which is a pension plan or has withdrawn from any Canadian Plan which is a pension plan in a complete or partial withdrawal, nor has a condition occurred which if continued would result in a complete or partial withdrawal. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) None of the Canadian Loan Parties or any of their Subsidiaries have any unfunded liability on windup or withdrawal liability, including contingent
withdrawal or windup liability, to any Canadian Plan or any solvency deficiency in respect of any Canadian Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) None of the Canadian Loan Parties or
any of their Subsidiaries have any unfunded liability on windup or any liability in respect of any Canadian Plan (including to the FSCO) other than for required insurance premiums or contributions or remittances which have been paid, contributed and
remitted when due. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) Each Canadian Loan Party and each Subsidiary of a Canadian Loan Party has made all contributions to its Canadian Plans required by
Applicable Law or the terms thereof to be made by it when due, and it is not in arrears in the payment of any contribution, payment, remittance or assessment or in default in filing any reports, returns, statements, and similar documents in respect
of the Canadian Plans required to be made or paid by it pursuant to any Canadian Plan, any Applicable Law, act, regulation, directive or order or any employment, union, pension, deferred profit sharing, benefit, bonus or other similar agreement or
arrangement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) None of the Canadian Loan Parties or any of their Subsidiaries are liable or, to the best of the Borrowers&#146; knowledge, alleged to
be liable, to any employee or former employee, director or former director, officer or former officer or other Person resulting from any violation or alleged violation of any Canadian Plan, any fiduciary duty, any Applicable Law or agreement in
relation to any Canadian Plan or has any unfunded pension or like obligations or solvency deficiency (including any past service or experience deficiency funding liabilities), other than accrued obligations not yet due, for which it has made full
provision in its books and records. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) All vacation pay, bonuses, salaries and wages, to the extent accruing due, are properly reflected in the Canadian
Loan Parties&#146; and their Subsidiaries&#146; books and records. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) Without limiting the foregoing, all of the Canadian Loan Parties&#146; and their
Subsidiaries&#146; Canadian Plans are duly registered where required by, and are in compliance and good standing in all material respects under, all Applicable Laws, acts, statutes, regulations, orders, directives and agreements, including, without
limitation, the ITA, the <I>Supplemental Pension Plans Act</I> (Quebec) and the <I>Pension Benefits Act</I> (Ontario), any successor legislation thereto, and other Applicable Pension Legislation of any jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) None of the Canadian Loan Parties or any of their Subsidiaries have made any application for a funding waiver or extension of any amortization period in
respect of any Canadian Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) There has been no prohibited transaction or violation of any fiduciary responsibilities with respect to any Canadian
Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(o) There are no outstanding or pending or threatened investigations, claims, suits or proceedings in respect of
any Canadian Plans (including to assert rights or claims to benefits) that could give rise to a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(p) None of the Canadian Loan
Parties or any of their Subsidiaries maintain any Canadian Plan that is a defined benefit pension plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.21. <U><B>Trade Relations</B></U>. There
exists no actual or threatened termination, limitation or modification of any business relationship between any Loan Party or any Subsidiary and any customer or supplier, or any group of customers or suppliers, individually or in the aggregate the
consequence of which could reasonably be expected to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.22. <U><B>Labor Relations</B></U>. Except as described on
<B>Schedule 9.1.22</B>, no Loan Party or Subsidiary is party to or bound by any (a)&nbsp;management agreement, (b)&nbsp;consulting agreement where the aggregate obligations of such Loan Party or Subsidiary thereunder are in excess of the Dollar
Equivalent of $100,000 or (c)&nbsp;collective bargaining agreement. There are no material grievances, disputes or controversies with any union or other organization of any Loan Party&#146;s or Subsidiary&#146;s employees, or, to any Loan
Party&#146;s knowledge, any asserted or threatened strikes, work stoppages or demands for collective bargaining that, in any case, could reasonably be expected to result in a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.23. <U><B>Not a Regulated Entity</B></U>. No Loan Party is (a)&nbsp;an &#147;investment company&#148; or a &#147;person directly or indirectly controlled
by or acting on behalf of an investment company&#148; within the meaning of the Investment Company Act of 1940; (b)&nbsp;a &#147;holding company&#148;, or a &#147;subsidiary company&#148; of a &#147;holding company&#148;, or an &#147;affiliate&#148;
of a &#147;holding company&#148;, as such terms are defined in the Public Utility Holding Company Act of 2005; or (c)&nbsp;subject to regulation under the Federal Power Act, the Interstate Commerce Act, any public utilities code or any other
Applicable Law regarding its authority to incur Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.24. <U><B>Margin Stock</B></U>. No Loan Party or Subsidiary is engaged, principally or as one
of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. No proceeds of the Term Loan will be used by the Loan Parties to purchase or carry, or to reduce or refinance any Debt
incurred to purchase or carry, any Margin Stock or for any related purpose governed by Regulations T, U or X of the Board of Governors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.25.
<U><B>Certain Transactions</B></U><B>.</B> Except as set forth on <B>Schedule 9.1.25</B> and except with respect to employee discount and similar programs conducted in the ordinary course of business and consistent with past practices, none of the
officers, directors, or employees of any Loan Party is presently a party to any transaction with any Loan Party (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the
furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from, any officer, director or such employee or, to the knowledge of any Loan Party, any corporation, partnership,
trust or other Person in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.26. <B><U>Patriot Act</U></B>. To the extent applicable, each Loan Party is in compliance, in all material respects, with the (i)&nbsp;Trading with the
Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii)&nbsp;the
Patriot Act. No part of the proceeds of the Term Loan will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else
acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended and the <I>Corruption of Foreign Public Officials
Act</I> (Canada). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.27. <B><U>Complete Disclosure</U></B><B>.</B> No (x)&nbsp;Loan Document or (y)&nbsp;information (except
financial projections) provided by or on behalf of any Loan Party and delivered to the Lenders in connection with the transactions contemplated hereby, contains, as and when delivered, any untrue statement of a material fact, nor fails to disclose
any material fact necessary to make the statements contained therein not materially misleading. All financial projections provided by or on behalf of any Loan Party and delivered to the Lenders in connection with the transactions contemplated hereby
have been prepared in good faith based on reasonable assumptions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.28. <U><B>Use of Proceeds</B></U>. The proceeds of the Term Loan shall be used
solely (a)&nbsp;to pay fees and transaction expenses associated with the closing of this credit facility; and (b)&nbsp;to reduce the Revolving Loan Debt for the purpose of creating availability under the Revolving Borrowing Capacity for use by the
Borrowers for working capital, Capital Expenditures and other lawful corporate purposes of the Borrowers and their Subsidiaries in accordance with this Agreement and the Revolving Credit Agreement. No proceeds of the Term Loan may be used, nor shall
be requested, with a view towards the accumulation of any general fund or funded reserve of the Borrowers other than in the ordinary course of the Borrowers&#146; business and consistent with the provisions of this Agreement </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.29. <B><U>OFAC.</U></B> No Loan Party nor any of its Subsidiaries is in violation of any of the country or list based economic and trade sanctions
administered and enforced by OFAC. No Loan Party nor any of its Subsidiaries (a)&nbsp;is a Sanctioned Person or a Sanctioned Entity, (b)&nbsp;has its assets located in Sanctioned Entities, or (c)&nbsp;derives revenues from investments in, or
transactions with Sanctioned Persons or Sanctioned Entities. No proceeds of any loan made hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned
Entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.30. <U><B>[Reserved]</B></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.31.
<B><U>Alloyco International</U></B><B>.</B> As of the Third Amendment Effective Date, no Loan Party utilizes Alloyco International Inc. as a processor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.1.32. <B><U>Certain Consignment Arrangements</U></B><B>.</B> As of the Third Amendment Effective Date, no Loan Party holds any consigned inventory from any
of Clover Corporation, M. Fabrikant&nbsp;&amp; Sons, Inc. or S.H.R. Inc. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;10.</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B><B>COVENANTS AND CONTINUING AGREEMENTS</B><B> </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.1. <U>Affirmative Covenants</U>.</B> For so
long as any Obligations are outstanding, each Loan Party shall, and shall cause each Subsidiary to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.1. <U><B>Inspections; Collateral Reports;
Appraisals</B></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Permit the Agents, a Lender or any of the Lenders&#146; other designated representatives, to visit and inspect any of the
properties of the Loan Parties or any of their Subsidiaries, to examine the books of account of the Loan Parties and their Subsidiaries (and, subject to the confidentiality provisions contained herein, to make copies thereof and extracts therefrom,
duplicate, cause to be reduced to hard copy, run off, draw off, and otherwise use any and all computer or electronically stored information or data which relates to the Loan Parties, or any service bureau, contractor, accountant, or other person),
and to discuss the affairs, finances and accounts of the Loan Parties and their Subsidiaries with, and to be advised as to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


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the same by, its and their officers, and to conduct examinations and verifications (whether by internal commercial finance examiners or independent auditors) of all components included in the
Term Loan Borrowing Capacity, all, prior to the occurrence and during the continuance of an Event of Default, upon prior reasonable notice and at such reasonable times and intervals as any Agent or any Lender may reasonably request. The Agents and
any Lender may, at the Borrowers&#146; expense, participate in or observe any physical count of inventory included in the Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Upon the
request of any Agent and at the Borrowers&#146; expense, but in any event up to three (3)&nbsp;times during each calendar year in which no Event of Default has occurred or is continuing, the Borrowers will obtain and deliver to the Agents, or, if
the Agent so elect, will cooperate with the Agents in the Agents&#146; obtaining, a report of an independent collateral auditor satisfactory to the Agents (which auditor shall not be affiliated with any existing Lender or any existing Revolving
Lender) with respect to the Accounts and Inventory components included in the Term Loan Borrowing Capacity (each, a &#147;<U>Collateral Value Report</U>&#148;), which Collateral Value Report shall indicate whether or not the information set forth in
the Borrowing Base Certificate most recently delivered is accurate and complete in all material respects based upon a review by such auditors of the Accounts (including verification with respect to the amount, aging, identity and credit of the
respective Account Debtors and the billing practices of the Borrowers or their applicable Subsidiary) and Inventory (including verification as to the ownership, value, location and respective types). Notwithstanding the foregoing or anything to the
contrary contained herein, (x)&nbsp;unless an Event of Default has occurred and is continuing, the Agents shall not require that any such Collateral Value Reports be obtained at the Borrowers&#146; expense so long as the Revolving Agent has obtained
three (3)&nbsp;such Collateral Value Reports in each calendar year and has shared such Collateral Value Reports obtained under the Revolving Credit Agreement with the Administrative Agent pursuant to the terms of the Intercreditor Agreement;
<U>provided that</U>, in the event that the Revolving Agent has not obtained such Collateral Value Reports and/or has not shared such Collateral Value Reports with the Administrative Agent, the Agents may require, at the Borrowers&#146; expense, an
amount of Collateral Value Reports equal to (i)&nbsp;up to three (3)&nbsp;<U>minus</U> (ii)&nbsp;such number of Collateral Value Reports obtained by the Revolving Agent and shared with the Administrative Agent in such time period (unless an Event of
Default has occurred and is continuing, in which case the Agents may require the Borrowers to obtain, or cooperate with the Agents&#146; obtaining, such Collateral Value Reports as it determines in its discretion, in any event at the Borrowers&#146;
expense), and (y)&nbsp;at any time, the Agents may require the Borrowers to obtain, or cooperate with the Agents&#146; obtaining, such additional Collateral Value Reports as it deems necessary or desirable at the Agents&#146; expense. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Upon the request of any Agent and at the Borrowers&#146; expense, but in any event up to three (3)&nbsp;times during each calendar year in which no Event
of Default has occurred or is continuing, the Borrowers will obtain and deliver to the Agents appraisal reports, or if the Agents so elect, will cooperate with the Agents in the Agents&#146; obtaining appraisal reports, in each case in form and
substance reasonably satisfactory to the Agents and from appraisers reasonably satisfactory to the Agents, stating the then current net orderly liquidation value or going out of business values of all or a portion of the Inventory and the then
current forced liquidation value of all or any portion of the Private Label Accounts and all Accounts due from corporate sales accounts and wholesale accounts. Upon the request of the Agents and at the Borrowers&#146; expense, the Borrowers will
obtain and deliver to the Agents appraisal reports in form and substance and from appraisers reasonably satisfactory to the Agents, stating (i)&nbsp;the then current fair market, orderly liquidation and forced liquidation values of all or any
portion of the Inventory, Accounts, the Equipment or Real Estate owned by the Borrowers or any of their Subsidiaries and (ii)&nbsp;the then current liquidation value of each of the Borrowers and their Subsidiaries. Notwithstanding the foregoing or
anything to the contrary contained herein, (x)&nbsp;unless an Event of Default has occurred and is continuing, the Agents shall not require that any such appraisal reports be obtained so long as the Revolving Agent has obtained three (3)&nbsp;such
appraisal reports in each calendar year and has shared such appraisal reports obtained under the Revolving Credit Agreement with the Administrative Agent pursuant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


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to the terms of the Intercreditor Agreement; <U>provided that</U>, in the event that the Revolving Agent has not obtained such appraisal reports and/or has not shared such appraisal reports with
the Administrative Agent, the Agents may require, at the Borrowers&#146; expense, an amount of appraisal reports equal to (i)&nbsp;up to three (3)&nbsp;<U>minus</U> (ii)&nbsp;such number of appraisal reports obtained by the Revolving Agent and
shared with the Administrative Agent in such time period (unless an Event of Default has occurred and is continuing, in which case the Agents may require the Borrowers to obtain such appraisal reports as it determines in its discretion, in any event
at the Borrowers&#146; expense), and (y)&nbsp;at any time, the Agents may require the Borrowers to obtain, or cooperate with the Agents&#146; obtaining, such additional appraisal reports as it deems necessary or desirable at the Agents&#146;
expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.2. <U><B>Financial and Other Information</B></U>. Keep adequate records and books of account with respect to its business activities, in
which proper entries are made in accordance with GAAP reflecting all financial transactions; and furnish to the Agents and the Lenders: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) as soon as
available, but in any event not later than (i)&nbsp;90 days after the close of each Fiscal Year, the unaudited consolidated balance sheet of the Borrowers and their Subsidiaries as at the end of such Fiscal Year, and the related consolidated
statement of income, shareholder&#146;s equity, cash flows and same store sales performance metrics of the Borrowers and their Subsidiaries for such Fiscal Year, along with a management&#146;s discussion and analysis in connection with the
foregoing, which statements shall be in reasonable detail and, other than with respect to such same store sales performance metrics, prepared in accordance with GAAP (except for the absence of footnotes, normal recording year-end adjustments, and
consolidation and elimination entries and intercompany charges), and in each case shall set forth in comparative form corresponding figures for the preceding Fiscal Year, the most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B>
and other information acceptable to the Agents and (ii)&nbsp;the earlier of (x)&nbsp;120 days after the close of each Fiscal Year and (y)&nbsp;the date on which the audited financial statements of the Borrowers and their Subsidiaries are provided to
any other Person, consolidated balance sheet of the Borrowers and their Subsidiaries as at the end of such Fiscal Year, and the related consolidated statement of income, shareholder&#146;s equity and cash flows of the Borrowers and their
Subsidiaries for such Fiscal Year, which consolidated financial statements shall be audited and certified (without qualification as to scope, &#147;going concern&#148; or similar items) by a firm of independent certified public accountants of
recognized standing selected by the Borrowers and acceptable to the Agents (it being acknowledged that KPMG LLP shall be acceptable to the Agents), and shall set forth in comparative form corresponding figures for the preceding Fiscal Year and the
most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B> and other information acceptable to the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) as soon as available, but
in any event not later than 45 days after the end of each Fiscal Quarter of each Fiscal Year of the Borrowers (including, without limitation, the fourth Fiscal Quarter of each Fiscal Year of the Borrowers for which the deadline shall be 75 days),
unaudited balance sheets as of the end of such Fiscal Quarter and the related statements of income and cash flows and same store sales performance metrics for such Fiscal Quarter and for the portion of the Fiscal Year then elapsed, on a consolidated
basis for the Borrowers and their Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and the most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B> and certified by a Senior
Officer of the Borrowers as prepared in accordance with GAAP (other than with respect to such same store sales performance metrics), and fairly presenting the financial position and results of operations for such Fiscal Quarter and period, subject
to normal year-end adjustments, along with, after the end of the second Fiscal Quarter of each Fiscal Year, a management&#146;s discussion and analysis in connection with the foregoing, provided that at the end of the first, third and fourth Fiscal
Quarters the management&#146;s discussion and analysis shall be in summary form; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) as soon as available, but in any event not later than 30 days after
the end of each month (including, without limitation, the third month of each Fiscal Quarter), unaudited balance sheets as of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


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end of such month and the related statements of income and cash flows and same store sales performance metrics for such month and for the portion of the Fiscal Year then elapsed, on a
consolidated basis for the Borrowers and their Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and the most recent projections provided pursuant to <B>Section&nbsp;10.1.2(g)</B> and certified by a
Senior Officer of the Borrowers as prepared in accordance with GAAP (other than such same store sales performance metrics), and fairly presenting the financial position and results of operations for such month and period, subject to normal year-end
adjustments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) (i) concurrently with delivery of financial statements under clauses (a), (b)&nbsp;and (c)&nbsp;above and (ii)&nbsp;at the end of each
monthly period for which the financial covenant pursuant to <B>Section&nbsp;10.2.27</B> is required to be tested, or more frequently if requested by the Agents while an Event of Default exists, a Compliance Certificate executed by a Senior Officer
of each Borrower (with such certification to be in such Person&#146;s capacity as a Senior Officer of such Borrower and not in such Person&#146;s individual capacity); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) concurrently with delivery of financial statements under clause (a)&nbsp;above, and otherwise promptly after the request by any Agent, copies of any
detailed audit reports or management letters submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants in connection with the accounts or books of any Loan Party or any
Subsidiary, or any audit of any of them; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) concurrently with delivery of financial statements under clause (b)&nbsp;above, and otherwise promptly after
the request by any Agent, a certificate of a duly authorized officer of each Borrower either confirming that there has been no change in such information since the date of the Schedules delivered on the Third Amendment Effective Date or the date of
the most recent Schedules delivered pursuant to this Section and/or identifying such changes; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) from time to time upon request of any Agent, but in any
event no later than 30 days prior to the beginning of each Fiscal Year of the Borrowers, draft projections of the Loan Parties&#146; consolidated balance sheets, results of operations, cash flow, budgets and availability under the credit facilities
(including, without limitation, projections of Revolver Excess Availability) for the next three Fiscal Years, year by year, and for such Fiscal Year, on a month by month basis, such draft projections to be made in good faith based on reasonable
assumptions of the Borrowers at the time made; and from time to time upon request of any Agent, but in any event no later than 45 days following the beginning of each Fiscal Year of the Borrowers, final projections of the Loan Parties for each of
the types of statements identified herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) concurrently with delivery of financial statements under clause (b)&nbsp;above, a report setting forth a
listing of any new stores, offices or places of business of the Loan Parties since the delivery of the last such report; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) at any Agent&#146;s request,
a listing of each Loan Party&#146;s trade payables (including, without limitation, with respect to the Damiani Debt), specifying the trade creditor and balance due, and a detailed trade payable aging; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) promptly after the sending or filing thereof, copies of any proxy statements, financial statements or reports that any Loan Party has made generally
available to its shareholders; copies of any regular, periodic and special reports or registration statements or prospectuses that any Loan Party files with the Securities and Exchange Commission or any other Governmental Authority, or any
securities exchange; and copies of any press releases or other statements made available by a Loan Party to the public concerning material changes to or developments in the business of such Loan Party; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) compliance certificates (or such other evidence of compliance) with the financial covenants and other terms
of the Revolving Loan Documents (or any documents relating to renewals, refinancings and extensions of the Debt incurred thereunder), in each case, at the times and in the forms delivered to the agents and/or the lenders under the Revolving Loan
Documents (or any documents relating to renewals, refinancings and extensions of the Debt incurred thereunder); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) within fifteen (15)&nbsp;days after
the end of each calendar month in each Fiscal Year of the Borrowers, a certification by a Senior Officer of each Borrower, in form and substance reasonably satisfactory to the Agents, (i)&nbsp;that all rent payments of the Borrowers and their
Subsidiaries have been made, (ii)&nbsp;that no lease defaults exist for such period, (iii)&nbsp;as to the amount of outstanding consignment accounts payable for such calendar month and the book value determined in accordance with GAAP of Inventory
held on a consignment basis, and (iv)&nbsp;describing the long-term debt of the Borrowers and their Subsidiaries as of the end of such calendar month; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) (i) promptly upon request of any Agent, furnish to the Agents a copy of the most recent actuarial statement required to be submitted under &#167;103(d) of
ERISA, other Applicable Pension Legislation and Annual Report, Form 5500 or other similar document with all required attachments, in respect of each Guaranteed Pension Plan and Canadian Plan, (ii)&nbsp;promptly upon receipt or dispatch, furnish to
the Agents any notice, report or demand sent or received in respect of a Guaranteed Pension Plan under &#167;&#167;302, 4041, 4042, 4043, 4063, 4065, 4066 and 4068 of ERISA, or in respect of a Multiemployer Plan under &#167;4041A, 4202, 4219, 4242,
or 4245 of ERISA or in respect of a Canadian Plan or other similar provisions of Applicable Pension Legislation, (iii)&nbsp;promptly deliver to the Agents all information required to be reported to the PBGC under Section&nbsp;4010 of ERISA,
(iv)&nbsp;promptly deliver to the Agents such other documents or governmental reports or filings relating to any Guaranteed Pension Plan, Multiemployer Plan or Canadian Plan as the Agents shall reasonably request and (v)&nbsp;promptly following any
request therefor, on and after the effective date of the Pension Protection Act of 2006, the Borrowers shall deliver to the Agents copies of any documents or notices described in Sections 101(j), (k)&nbsp;or (l)&nbsp;of ERISA that the Borrowers or
any ERISA Affiliate may request with respect to any Guaranteed Pension Plan or Multiemployer Plan, as applicable; provided, that if the Borrowers or any ERISA Affiliate have not requested such documents or notices from the administrator of sponsor
of the applicable Guaranteed Pension Plan or Multiemployer Plan, the Borrowers or ERISA Affiliate shall, upon request from any Agent, promptly make a request for such documents or notices from such administrator or sponsor and shall provide copies
of such documents and notices promptly after receipt thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) promptly upon delivery thereof, copies of all documents and materials of a material
financial nature or otherwise provided to any other creditor of any Loan Party or any Subsidiary, including but not limited to any items delivered pursuant to the Revolving Credit Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(o) promptly upon request therefor, all information pertaining to the Loan Parties and their Subsidiaries reasonably requested by any Lender in order for such
Lender to comply with the provisions of the Patriot Act; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(p) to the extent that Revolver Excess Availability is less than $5,000,000 for five
(5)&nbsp;consecutive Business Days, at the request of Agent, a thirteen (13)&nbsp;week cash flow report; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(q) promptly but in any event no later than ten
(10)&nbsp;days after any Loan Party&#146;s entry into any consignment arrangement (whether such consignment arrangement is documented or otherwise) in which such Loan Party acts as a consignee (including, without limitation, pursuant to
Section&nbsp;4.1 of the Damiani Distribution Agreement), notify the Agents in writing of such consignment arrangement, specifying the consignor, the consignee, the term of the consignment arrangement, the goods to be consigned and any other material
terms of such arrangements and, at the request of any Agent, promptly deliver true, complete and accurate copies of such consignment agreement and related documents and any amendments, modifications, supplements, waivers or other modifications
thereof; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(r) such other reports and information (financial or otherwise) as any Agent may request from time to time in
connection with any Collateral or any Loan Party&#146;s or the Subsidiary&#146;s financial condition or business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Documents required to
be delivered pursuant to <B>Sections 10.1.2(a), (b)</B>&nbsp;or <B>(j)</B>&nbsp;(to the extent any such documents are included in materials otherwise filed with the Securities and Exchange Commission) may be delivered electronically and if so
delivered, shall be deemed to have been delivered on the date (i)&nbsp;on which the applicable Borrower posts such documents, or provides a link thereto on such Borrower&#146;s website on the Internet at the website address indicated in writing to
the Agents and the Lenders by the Borrower Agent; or (ii)&nbsp;on which such documents are posted on such Borrower&#146;s behalf on an Internet or intranet website, if any, to which each Lender and the Agents have access (whether a commercial,
third-party website or whether sponsored by any Agent); <U>provided</U> that: (i)&nbsp;such Borrower shall deliver paper copies of such documents to the Agents or any Lender that requests such Borrower to deliver such paper copies until a written
request to cease delivering paper copies is given by such Agent or such Lender and (ii)&nbsp;such Borrower shall notify the Agents and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Agents and
the Lenders by electronic mail electronic versions (<U>i.e.</U>, soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Borrowers shall be required to provide paper copies of the Compliance Certificates to
the Agents and the Lenders. Except for such Compliance Certificates, no Agent shall have any obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor
compliance by the Borrowers with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.3. <B><U>Notices</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Notify the Agents and the
Lenders in writing, promptly after any Senior Officer of any Loan Party obtains knowledge thereof, of any of the following that affects a Loan Party: (i)&nbsp;the threat or commencement of any proceeding or investigation, whether or not covered by
insurance, reasonably likely to result in a Material Adverse Effect; (ii)&nbsp;any material pending or threatened labor dispute, strike or walkout, or the expiration of any material labor contract; (iii)&nbsp;any material default under or
termination of a Material Contract; (iv)&nbsp;the existence of any Default or Event of Default; (v)&nbsp;any default under the Revolving Loan Documents, the Rolex USA Documents, the Rolex Canada Documents, the Quebec Subordinated Debt Documents, the
Montrovest Debt Documents, the Damiani Debt Documents, the Additional Subordinated Debt Documents or any other document, instrument or agreement evidencing Debt in excess of the Dollar Equivalent of $500,000; (vi)&nbsp;any judgment in an amount
exceeding the Dollar Equivalent of $750,000; (vii)&nbsp;the assertion of any Intellectual Property Claim, if an adverse resolution is reasonably likely to result in a Material Adverse Effect; (viii)&nbsp;any violation or asserted violation of any
Applicable Law (including ERISA, OSHA, FLSA, or any Environmental Laws), if an adverse resolution is reasonably likely to result in a Material Adverse Effect; (ix)&nbsp;any material Environmental Release by a Loan Party or on any Property owned,
leased or occupied by a Loan Party; or receipt of any Environmental Notice; (x)&nbsp;any circumstance or occurrence reasonably likely to result in a Material Adverse Effect; (xi)&nbsp;any change in the board of directors (or similar governing body)
of either Borrower; (xii)&nbsp;the discharge of or any withdrawal or resignation by the Loan Parties&#146; independent accountants; (xiii)&nbsp;any material change in any Loan Party&#146;s accounting or financial reporting practices; (xiv)&nbsp;any
incurrence of Debt, issuance of Capital Stock or dispositions of Property with a fair market value in excess of the Dollar Equivalent of $500,000, in each case, by any Loan Party or, if applicable, any change in any Debt rating of any Loan Party;
(xv)&nbsp;any opening of a new store, office or place of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
business; (xvi)&nbsp;any damage to, or destruction of, any material portion of the Collateral; (xvii)&nbsp;a &#147;US Revolver Overadvance&#148; or a &#147;Canadian Overadvance&#148; (as such
terms are defined in the Revolving Credit Agreement) as a result of a decrease in the &#147;US Borrowing Capacity&#148; or the &#147;Canadian Borrowing Capacity&#148;, as applicable, in which case such notice shall also include the amount of such
&#147;Overadvance Loan&#148; (as such terms are defined in the Revolving Credit Agreement); (xviii)&nbsp;any Loan Party&#146;s adoption of a French form of name or any change in any Loan Party&#146;s corporate name, identity, corporate structure,
chief executive office, domicile or Federal Taxpayer Identification Number, and (xix)&nbsp;any notices, materials or other information provided outside the ordinary course of business to the agents and/or lenders under the Revolving Loan Documents,
the Rolex USA Documents, the Rolex Canada Documents, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the Damiani Debt Documents, or the Additional Subordinated Debt Documents. The Loan Parties hereby agree not to effect or
permit any change referred to in clause (xviii)&nbsp;above unless all filings have been made under the UCC, PPSA or otherwise that are required in order for the Administrative Agent to continue at all times following such change to have a valid,
legal and perfected security interest in and Lien on all the Collateral as contemplated in the Security Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Notify the Agents in writing,
promptly after any Senior Officer of any Loan Party obtains knowledge of (i)&nbsp;any determination by any Borrower or any Subsidiary that the Inventory levels of such Borrower or such Subsidiary are not adequate to meet the sales projections of
such Borrower or such Subsidiary, and (ii)&nbsp;any failure of any Borrower or any Subsidiary to pay rent at any location, which failure continues for more than fifteen (15)&nbsp;days following the day on which such rent is due and payable by such
Borrower or such Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.4. <U><B>Landlord and Storage Agreements</B></U>. Upon request, provide the Agents with copies of all existing
agreements, and promptly after execution thereof provide the Agents upon request with copies of all future agreements, between a Loan Party and any landlord, warehouseman, processor, shipper, bailee or other Person that owns any premises at which
any Collateral having an aggregate value of more than the Dollar Equivalent of $100,000 may be kept or that otherwise may possess or handle any Collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.5. <U><B>Compliance with Laws; Organizational Documents; Material Contracts</B></U>. Comply (a)&nbsp;with all Applicable Laws, including ERISA,
Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and laws regarding pension plans and the collection and payment of Taxes, and maintain all Governmental Approvals necessary to the ownership of its Properties or conduct of its business, unless
failure to comply or maintain could not reasonably be expected to have a Material Adverse Effect, (b)&nbsp;with all Organizational Documents unless failure to comply therewith would not (x)&nbsp;be reasonably expected to have a Material Adverse
Effect and (y)&nbsp;be reasonably expected to have a materially adverse effect on the Agents or any Lender and (c)&nbsp;with all of its Material Contracts except in each case where the failure to comply therewith could not reasonably be expected to
have a Material Adverse Effect. Without limiting the generality of the foregoing, if any material Environmental Release occurs at or on any Properties of any Loan Party or any Subsidiary, it shall act promptly and diligently to investigate and
report to the Agents and all appropriate Governmental Authorities the extent of, and to make appropriate remedial action to eliminate, such Environmental Release, whether or not directed to do so by any Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.6. <B><U>Taxes</U></B>. Pay, remit and discharge all federal, state and foreign Taxes prior to the date on which they become past due, unless such Taxes
are being Properly Contested. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.7. <U><B>Insurance</B></U>. In addition to the insurance required hereunder with respect to Collateral, maintain
insurance with insurers (rated A or better by Best Rating Guide) reasonably satisfactory to the Agents, with respect to the Properties, business and business interruption of the Loan Parties and Subsidiaries of such type (including product
liability, workers&#146; compensation, larceny, embezzlement, or other criminal misappropriation insurance), in each case, in such amounts, and with such coverages and deductibles as are customary for companies similarly situated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.8. <U><B>Licenses</B></U>. Keep each License affecting any Collateral (including the manufacture,
distribution or disposition of Inventory) or any other material Property of the Loan Parties and Subsidiaries in full force and effect, if the failure to maintain such License is reasonably likely to result in a Material Adverse Effect, promptly
notify the Agents of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date and notify the Agents of any default or breach asserted by any Person to have occurred under
any License. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.9. <U><B>Future Subsidiaries</B></U>. Promptly notify the Agents upon any Person&#146;s becoming a Subsidiary and cause such Person,
within 45 days after such Person becomes a Subsidiary, to (i)&nbsp;join this Agreement and the other Loan Documents, in a manner reasonably satisfactory to the Agents, as a Borrower or Guarantor hereunder and thereunder (such determination to be
made by the Agents in their sole discretion), and (ii)&nbsp;execute and deliver such documents, instruments and agreements and to take such other actions as the Administrative Agent shall require to evidence and perfect a Lien (subject only to the
Liens in favor of the Revolving Agent or the Canadian Revolving Agent) in favor of the Administrative Agent (for the benefit of the Secured Parties) on all assets of such Person as security for the Obligations, including delivery of such legal
opinions and such other information, in form and substance reasonably satisfactory to the Agents, as they shall deem reasonably appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.10.
<U><B>Payment of Obligations</B></U>. Pay and discharge as the same shall become due and payable all its obligations and liabilities, including (a)&nbsp;all lawful claims which, if unpaid, would by law become a Lien (other than a Permitted Lien)
upon its property; and (b)&nbsp;all Debt, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Debt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.11. <U><B>Preservation of Existence</B></U>. Preserve, renew and maintain in full force and effect its legal existence and good standing under the laws
of the jurisdiction of its organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.12. <U><B>Maintenance of Properties</B></U>. Maintain, preserve and protect all of its material properties
and equipment necessary in the operation of its business in working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not
reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.13. <U><B>Books and Records</B></U>. Maintain proper books of record and account, in which
full, true and correct entries in conformity with GAAP consistently applied shall be made of all material financial transactions and matters involving the assets and business of such Loan Parties or such Subsidiary, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.14. <U><B>Compliance with Terms of Leaseholds</B></U>. Make all payments and otherwise perform all obligations in respect of all leases of real property
to which any Loan Party or any of its Subsidiaries is a party, keep such leases in full force and effect and not allow such leases to lapse or be terminated or any rights to renew such leases to be forfeited or cancelled, notify the Agents of any
default by any party with respect to such leases and cooperate with the Agents in all respects to cure any such default, and cause each of its Subsidiaries to do so, except, in any case, where the failure to do so, either individually or in the
aggregate, could not be reasonably likely to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.15. <U><B>Use of Proceeds</B></U>. Use the proceeds of the Term Loan
solely for the purposes set forth in <B>Section 2.1.3</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.16. <U><B>Lien Searches</B></U>. Promptly following receipt of the acknowledgment copy of any financing
statements filed under the UCC or the PPSA in any jurisdiction (or the equivalent in any foreign jurisdiction) by or on behalf of the Secured Parties, deliver to the Agents completed requests for information listing such financing statement and all
other effective financing statements filed in such jurisdiction that name any Loan Party as debtor, together with copies of such other financing statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.17. <U><B>Lien Waivers and Lien Priority Agreements</B></U>. Use commercially reasonable efforts to deliver not later than 45 days after the opening of
any new location, Lien Waivers for each distribution center, warehouse or storage facility at which Collateral is located; <U>provided</U>, that the Loan Parties shall use commercially reasonable efforts to deliver not later than 10 days after the
opening of any new location in a province or territory of Canada in which there is no PPSA registration, Lien Waivers for each distribution center, warehouse or storage facility at which Collateral is located. Each Loan Party shall, and shall cause
each of its Subsidiaries to, use commercially reasonable efforts to deliver a Lien Priority Agreement for each of the Loan Party&#146;s locations in the province of Qu&eacute;bec, Canada with respect to which registered hypothecs have priority over
the Lien of the Administrative Agent in any of the Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.18. <U><B>Sales Taxes</B></U>. If requested by any Agent, all or any portion of any
Loan will be set aside by the relevant Borrower to cover such Borrower&#146;s obligations for overdue sales, harmonized sales, or goods and services Tax on account of sales since the then most recent Borrowing pursuant to the Notice of Borrowing
delivered in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.19. <U><B>Chief Financial Officer</B></U>. In the event of the resignation or termination of the chief financial
officer of the Borrowers, or a vacancy in such office arises for any other reason (such as, death or disability), the Borrowers shall seek a replacement for such chief financial officer in a manner reasonably consistent with past practices and with
the reasonable processes generally followed to ensure that the new chief financial officer is adequately qualified to replace the former chief financial officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.20. <U><B>Lenders&#146; Meetings</B></U>. Upon the request of any Agent or the Required Lenders, participate in a meeting of the Agents and the Lenders
once during each Fiscal Year to be held at the Borrowers&#146; corporate offices (or at such other location as may be agreed to by the Borrowers and the Administrative Agent) at such time as may be agreed to by the Borrowers and the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.21. <U>C<B>ommunication with Accountants</B></U>. Upon any Agent&#146;s reasonable request, authorize and instruct that the Borrowers&#146; independent
certified public accountants communicate with the Agents with respect to the financial condition of the Borrowers and their Subsidiaries and make available all documents and other information reasonably requested by any Agent; <U>provided</U> that
the Borrowers and the other Loan Parties may participate in all such communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.1.22. <U><B>Further Assurances</B></U>. Promptly upon request by
any Agent or any Lender, (a)&nbsp;correct any material defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b)&nbsp;do, execute, acknowledge, deliver, record, <FONT
STYLE="white-space:nowrap">re-record,</FONT> file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as any Agent or any Lender may reasonably require from time to time in order to
(i)&nbsp;carry out more effectively the purposes of the Loan Documents, (ii)&nbsp;to the fullest extent permitted by Applicable Law, subject any Loan Party&#146;s or any of its Subsidiaries&#146; properties, assets, rights or interests to the Liens
now or hereafter intended to be covered by any of the Security Documents, (iii)&nbsp;perfect and maintain the validity, effectiveness and priority of any of the Security Documents and any of the Liens intended to be created thereunder and
(iv)&nbsp;assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any
other instrument executed in connection with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.2. <U>Negative Covenants</U></B>. For so long as any Obligations are outstanding, each Loan Party shall
not, and shall cause each Subsidiary not to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.1. <U><B>Permitted Debt</B></U>. Create, incur, guarantee or suffer to exist any Debt, except: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) the Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) the Revolving Loan Debt in an amount
not to exceed the amount permitted under the Intercreditor Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) the Quebec Subordinated Debt in an outstanding amount not to exceed Cdn.
$12,100,000 at any time and solely to the extent that such Debt is subject to the Quebec Subordination Agreements; <U>provided</U> that (i)&nbsp;the Quebec Subordinated Debt Documents shall be in form and substance reasonably satisfactory to the
Agents, and (ii)&nbsp;the Quebec Subordinated Debt shall be subject to the Quebec Subordination Agreements; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Intercompany Debt; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the Ordinary Course of Business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) Debt described in <B>Schedule 10.2.1</B><I>, </I>but not any extensions, renewals or replacements of such Debt except (i)&nbsp;renewals and extensions
expressly provided for in the agreements evidencing any such Debt as the same are in effect on the date of this Agreement and (ii)&nbsp;refinancings and extensions of any such Debt if the terms and conditions thereof are not materially less
favorable (taken as a whole) to the obligor thereon or to the Lenders than the Debt being refinanced or extended, and the average life to maturity thereof is greater than or equal to that of the Debt being refinanced or extended; <U>provided</U>
that such Debt permitted under the immediately preceding clause (i)&nbsp;or (ii)&nbsp;above shall not (A)&nbsp;include Debt of an obligor that was not an obligor with respect to the Debt being extended, renewed or refinanced, (B)&nbsp;exceed in a
principal amount the Debt being renewed, extended or refinanced, except by an amount equal to a premium on or other amount paid and fees and expenses reasonably incurred in connection with such renewal, extension or refinancing or (C)&nbsp;be
incurred, created or assumed if any Default or Event of Default has occurred and is continuing or would result therefrom; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) Debt incurred in connection
with the acquisition, lease or leasing after the Third Amendment Effective Date of any equipment or fixtures by a Loan Party or under any Capital Lease, <U>provided</U> that the aggregate principal amount of such Debt of the Loan Parties shall not
exceed the Dollar Equivalent of $15,000,000 at any one time; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) [Reserved]; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) [Reserved]; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) such other unsecured Debt that is
expressly subordinated to the Full Payment of the Obligations on terms and conditions and pursuant to a subordination agreement acceptable to the Agents; <U>provided</U> that the aggregate principal amount of such Debt of the Loan Parties shall not
exceed the Dollar Equivalent of $15,000,000 at any time; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) unsecured Debt constituting the Management Debt to the extent subject to the Management Subordination
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) such other Additional Subordinated Debt of the Loan Parties; <U>provided</U> that the aggregate principal amount of such Additional
Subordinated Debt of the Loan Parties shall not exceed the Dollar Equivalent of $15,000,000 at any one time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) the Damiani Debt of the Loan
Parties; <U>provided</U> that the aggregate amount of such Damiani Debt of the Loan Parties shall not exceed the Dollar Equivalent of $10,600,000 at any one time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.2. <U><B>Permitted Liens</B></U>. Create or suffer to exist any Lien upon any of its Property, except the following (collectively, &#147;<U>Permitted
Liens</U>&#148;): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Liens in favor of the Administrative Agent for the benefit of the Secured Parties granted pursuant to any Loan Document; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Liens securing the Revolving Loan Debt, subject to the provisions of the Intercreditor Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Liens to secure Taxes in respect of obligations not overdue or being Properly Contested, if adequate reserves with respect thereto are maintained on the
books of the applicable Person in accordance with GAAP, or Liens on Properties to secure claims for labor, material or supplies in respect of obligations not overdue or being Properly Contested, if adequate reserves with respect thereto are
maintained on the books of the applicable Person in accordance with GAAP; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) deposits or pledges made in connection with, or to secure payment of,
workmen&#146;s compensation, unemployment insurance, old age pensions or other social security or like obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) Liens on Properties in respect of
judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which a Borrower or any such Subsidiary shall at the time in good faith be
prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f)
Liens of carriers, warehousemen, mechanics and materialmen, and other like Liens on Properties, in existence less than 120 days from the date of creation thereof in respect of obligations not overdue or being Properly Contested, if adequate reserves
with respect thereto are maintained on the books of the applicable Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) encumbrances on Real Estate consisting of easements, servitudes, rights of
way, zoning restrictions, restrictions on the use of Real Estate and defects and irregularities in the title thereto, landlord&#146;s or lessor&#146;s liens and other minor Liens, <U>provided</U> that none of such Liens (A)&nbsp;interferes
materially with the use of the Property affected in the Ordinary Course of Business, and (B)&nbsp;individually or in the aggregate has, or could reasonably be expected to have, a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) Liens existing on the date hereof and listed on <B>Schedule 10.2.2</B> hereto (other than Permitted Liens described in clauses (a), (b), (j), and
(m)&nbsp;of this <B>Section 10.2.2</B>); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) purchase money security interests in or purchase money mortgages or vendors&#146; hypothecs on Property
acquired after the date hereof to secure purchase money Debt of the type and amount permitted by <B>Section&nbsp;10.2.1(g)</B>, incurred in connection with the acquisition of such Property, which security interests, vendors&#146; hypothecs,
mortgages, conditional sales agreements, installment sales agreements or other like title retention agreements with respect to Property acquired cover only the Property so acquired, together with the accessories thereto and proceeds thereof; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) (i) the Rolex USA Liens, and (ii)&nbsp;the Rolex Canada Liens and any Liens in favor of Rolex Canada Ltd. to
the extent constituting valid and perfected purchase money security interests in accordance with Applicable Law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) Liens of a bank or financial
institution with respect to funds deposited with such institution, including in respect of contractual rights of set-off; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) Liens representing the
replacement, extension or renewal of any Liens permitted in clauses (a)&nbsp;through (k)&nbsp;above, <U>provided</U> that (A)&nbsp;any such replacement, extension or renewal Liens shall encumber the same Property (and no additional Property of the
Loan Parties) as covered by the Liens that are so replaced, extended or renewed, and (B)&nbsp;the aggregate amount of Debt secured by such Property has not increased as a result of or in connection with such replacement, extension or renewal; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) Liens securing the Quebec Subordinated Debt permitted pursuant to <B>Section&nbsp;10.2.1(c)</B>, <U>provided</U> that such Liens shall, at all times be,
subordinate and junior in priority to the Liens securing the Obligations pursuant to the Quebec Subordination Agreements; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) [Reserved]; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(o) Liens created in connection with any goods or merchandise on consignment in which any Loan Party acts as &#147;consignor&#148;, provided that the
Borrowers shall have delivered written notice to the Agents of the applicable Loan Party&#146;s intention to enter into such consignment arrangements at least ten (10)&nbsp;days prior to the entry thereof and shall have provided the Agents complete
copies of the proposed consignment agreements (if any); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(p) [Reserved]; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(q) Liens securing any Additional Subordinated Debt permitted under <B>Section&nbsp;10.2.1(l)</B>, <U>provided</U> that such Liens shall, at all times, be
subordinate and junior in priority to the Liens securing the Obligations pursuant to a Subordination Agreement in form, scope and substance satisfactory to the Agents; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(r) Liens securing the Damiani Debt permitted under <B>Section&nbsp;10.2.1(m)</B> and Liens securing the obligations of the Loan Parties under the Damiani
Debt Documents in respect of the consignment arrangements described therein, <U>provided</U> that, in each case, such Liens shall, at all times, be subordinate and junior in priority to the Liens securing the Obligations to the extent provided in
the Damiani Subordination Agreement or another Subordination Agreement in form, scope and substance satisfactory to the Agents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any
reference in any of the Loan Documents to a Permitted Lien is not intended to subordinate or postpone, and shall not be interpreted as subordinating or postponing, or as any agreement to subordinate or postpone, any Lien created by any of the Loan
Documents to any Permitted Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.3. <U><B>Equitable Lien</B></U>. If any Loan Party shall create or assume any Lien upon any of its Properties,
whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Debt secured thereby as long
as any such Debt shall be so secured; <U>provided</U> that, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Required Lenders </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to the creation or assumption of any such Lien not otherwise permitted hereby. No Loan Party shall grant any Lien on any Property to the Revolving Lenders unless such Loan Party grants a Lien on
such Property to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.4. <U><B>No Further Negative Pledges</B></U>. Enter into any agreement prohibiting the creation or
assumption of any Lien upon any of its Properties (other than the Loan Documents and the Revolving Loan Documents), whether now owned or hereafter acquired, except with respect to (a)&nbsp;restrictions on specific assets which assets are the subject
of purchase money security interests to the extent permitted under <B>Section&nbsp;10.2.2(i)</B>, and (b)&nbsp;customary anti-assignment provisions contained in leases and licensing and other agreements entered into by a Loan Party in the Ordinary
Course of Business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.5. <U><B>[Reserved.]</B></U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.6. <U><B>Restricted Junior Payments</B></U>. Through any manner or means or through any other Person, directly or indirectly, declare, order, pay, make
or set apart, or agree to declare, order, pay, make or set apart, any sum for any Restricted Junior Payment except: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) the Borrowers shall be permitted
to declare dividends or distributions on or in respect of any shares of any class of Capital Stock of the Borrowers on a quarterly basis but in any event not later than forty-five (45)&nbsp;days after each date on which the Borrowers deliver their
financial statements to the Lenders in accordance with <B>Section&nbsp;10.1.2(b)</B>, in each case in an amount not to exceed 33% of Consolidated Net Income for the twelve month period ended as of each such Fiscal Quarter, <U>provided</U> that
(i)&nbsp;Fixed Charge Coverage Ratio, measured on a pro forma basis after giving effect to any such payment, is greater than 1.30:1.00, (ii)&nbsp;the aggregate amount of such dividends and distributions actually paid by the Borrowers during the
twelve month period ended as of any Fiscal Quarter end shall not exceed 33% of Consolidated Net Income for such twelve month period, (iii)&nbsp;no Default or Event of Default shall have occurred and be continuing at the time such dividends and
distributions are made or would result therefrom and (iv)&nbsp;Revolver Excess Availability shall be greater than or equal to $30,000,000 (A)&nbsp;at all times during the thirty (30)&nbsp;day period preceding the date any such dividends and
distributions are made, (B)&nbsp;immediately after giving effect to the making of any such dividends and distributions and (C)&nbsp;on a prospective basis (as demonstrated pursuant to projections of the Borrowers of the type described in
<B>Section&nbsp;10.1.2(g)</B>, in form and substance reasonably satisfactory to the Agents, which shall have been delivered to the Agents prior to the date of any such dividends and distributions are made), at all times during the twelve month
period commencing on the date any such dividends and distributions are made; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) the Borrowers shall be permitted to pay Gestofi SA fees and expenses in
an aggregate amount not greater than $400,000 in any Fiscal Year, payable monthly in arrears in equal monthly payments of up to $33,333.33, for services to be provided to the Borrowers by Mr.&nbsp;Niccolo Rossi, an employee of Gestofi SA,
<U>provided</U> that no Default or Event of Default shall have occurred and be continuing at the time of such payment or would result therefrom; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) the
Borrowers and the Guarantors shall be permitted to make any payments of principal and interest on any Intercompany Debt to the extent permitted under <B>Section 10.2.12</B>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) the Borrowers shall be permitted to make any payment of the Management Debt to the extent expressly permitted under the Management Subordination
Agreement, so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) the Borrowers shall be permitted to (i)&nbsp;pay to any of Regaluxe S.r.L., Montrovest B.V. or Gestofi SA, an aggregate amount not to exceed $260,000 in
any Fiscal Year (or such greater amount to the extent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


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consented to in writing by the Agents in its sole discretion) for expenses incurred by any of Regaluxe S.r.L., Montrovest B.V. or Gestofi SA on behalf of the Chairman of the Canadian Borrower in
connection with carrying out his duties as Chairman of the Canadian Borrower in the ordinary course of business and (ii)&nbsp;(x)&nbsp;pay Regaluxe S.r.L. a fee of not more than 3.5% of the total price of the goods sold to Regaluxe S.r.L. in the
form of a discount (which fee shall be payable to cover import duties and the carrying costs of value-added taxes financing), and (y)&nbsp;reimburse Regaluxe S.r.L. for other reasonable costs and expenses incurred by Regaluxe S.r.L. in connection
with the importation by Regaluxe S.r.L. of goods of the Canadian Borrower and the subsequent sale of such goods by Regaluxe S.r.L. to certain Italian jewelry stores (so long as, to the extent requested by the Agents, the Agents are provided with
satisfactory documentation supporting such fees, costs and expenses), <U>provided</U> that in each case, no Default or Event of Default shall have occurred and be continuing at the time of such payment or would result therefrom. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.7. <U><B>Restrictions on Subsidiary Distributions</B></U>. Except as provided herein and in the Revolving Loan Documents, the Borrowers shall not, and
shall not permit any Subsidiary of the Borrowers to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of the Borrowers to (a)&nbsp;pay dividends
or make any other distributions on any of such Subsidiary&#146;s Capital Stock owned by any Borrower or any other Subsidiary of any Borrower, (b)&nbsp;repay or prepay any Debt owed by such Subsidiary to any Borrower or any other Subsidiary of such
Borrower, (c)&nbsp;make loans or advances to the Borrowers or any other Subsidiary of the Borrowers, or (d)&nbsp;transfer any of its property or assets to the Borrowers or any other Subsidiary of the Borrowers other than restrictions (i)&nbsp;in
agreements evidencing Debt permitted by <B>Sections 10.2.1(g)</B> that impose restrictions on the property so acquired, (ii)&nbsp;in any Contractual Obligation listed in <B>Schedule&nbsp;10.2.7</B> in effect on the Third Amendment Effective Date and
(iii)&nbsp;by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into in the Ordinary Course of Business<I>.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.8. <U><B>[Reserved.]</B></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.9.
<U><B>Investments</B></U>. Directly or indirectly, make or own any Investment in any Person, including without limitation any Joint Venture, except: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)
Investments in cash and Cash Equivalents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Investments existing on the date hereof and listed on <B>Schedule 9.1.6(b)</B> hereto; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Investments consisting of Intercompany Debt to the extent permitted pursuant to <B>Section&nbsp;10.2.1(d)</B>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Investments consisting of promissory notes received as proceeds of asset dispositions permitted pursuant to <B>Section 10.2.13(b)</B>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) Investments consisting of loans and advances to employees for moving, entertainment, travel and other similar expenses in the Ordinary Course of Business
not to exceed the Dollar Equivalent of $250,000 in the aggregate at any time outstanding, other than any loans or advances that would be in violation of Section&nbsp;402 of Sarbanes-Oxley; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) Investments by the Borrowers or any Guarantor in BME IPCO in an amount not to exceed, in the aggregate, the sum of (i)&nbsp;the royalty payments required
to be paid by the Borrowers or any of their respective Subsidiaries under Section&nbsp;7.2 of the BME IPCO Distribution Agreement, <U>plus</U> (ii)&nbsp;the Dollar Equivalent of $250,000 in the aggregate in any Fiscal Year, <U>provided</U>, that no
Default or Event of Default shall then be continuing under this Agreement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) a one-time Investment in CGS Canada in an amount not to exceed $50,000 (inclusive of any such Investment made
prior to the Third Amendment Effective Date); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) Investments by the Borrowers in the Excluded Subsidiaries not to exceed $300,000 in the aggregate
outstanding at any time unless approved by the Agents or to the extent that the Investment is made with the net cash proceeds contemporaneously received by the Canadian Borrower from equity issuances, equity contributions or convertible debentures
made for the sole purpose of such Investment; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) the grant by the Canadian Borrower to the Excluded Subsidiaries of the exclusive right to use the
trademarks identified on <B>Schedule 10.2.9(i)</B> hereto in Hong Kong, People&#146;s Republic of China, Mongolia and/or Macau, and the making available by the Canadian Borrower to the Excluded Subsidiaries of the Canadian Borrower&#146;s know-how,
confidential or proprietary information and similar Intellectual Property related to the business of the Canadian Borrower solely for use in Hong Kong, People&#146;s Republic of China, Mongolia and/or Macau; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, <U>however</U>, that, with the exception of Investments referred to in clauses (f), (g), (h)&nbsp;and (i)&nbsp;of this
<B>Section&nbsp;10.2.9</B>, such Investments will be considered Investments permitted by this <B>Section&nbsp;10.2.9</B>, only if all actions have been taken to the satisfaction of the Administrative Agent to provide to the Administrative Agent, for
the benefit of the Lenders and the Agents, a perfected security interest in all of such Investments free of all Liens other than (i)&nbsp;Liens in favor of the Revolving Agent or the Canadian Revolving Agent, or (ii)&nbsp;Permitted Liens entitled to
priority under Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.10. <U><B>Prepayment and Cancellation of Certain Debt</B></U>. Prepay, redeem, purchase, defease or otherwise satisfy
prior to the scheduled maturity thereof in any manner, any Debt (including, without limitation, (a)&nbsp;any Intercompany Debt or Management Debt (unless otherwise permitted pursuant to <B>Section&nbsp;10.2.6</B>), (b)&nbsp;the Quebec Subordinated
Debt prior to its due date under the agreements evidencing such Debt (in each case, or as amended thereafter in accordance with <B>Section&nbsp;10.2.11</B>), unless otherwise permitted pursuant to <B>Section&nbsp;10.2.12</B>, and (c)&nbsp;the
Montrovest Debt, the Damiani Debt or the Additional Subordinated Debt, in each case prior to its respective due date under the Montrovest Debt Documents, the Damiani Debt Documents or the applicable Additional Subordinated Debt Documents, and as in
effect on the date of entry thereof (in each case, or as amended thereafter in accordance with <B>Section&nbsp;10.2.11</B>), unless otherwise permitted pursuant to <B>Section&nbsp;10.2.12</B>. Notwithstanding the foregoing, the Borrowers may pay or
prepay the Revolving Loan Debt subject to the terms of the Intercreditor Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.11. <U><B>Amendments or Waivers of Revolving Loan Documents, Management Agreement, Quebec Subordinated Debt
Documents, Montrovest Debt Documents, Damiani Debt Documents, Additional Subordinated Debt Documents and Organizational Documents</B></U>. (a)&nbsp;Agree to any amendment, restatement, supplement or other modification to, or waiver of any of its
material rights under, the Revolving Loan Documents (except to the extent expressly permitted under the Intercreditor Agreement), the Management Agreement (except to the extent expressly permitted by the Management Subordination Agreement), the
Quebec Subordinated Debt Documents, the Montrovest Debt Documents (except to the extent expressly permitted by the Montrovest Subordination Agreement), the Damiani Debt Documents (except to the extent expressly permitted by the Damiani Subordination
Agreement), or any Additional Subordinated Debt Documents, without in each case obtaining the prior written consent of the Required Lenders to such amendment, restatement, supplement or other modification or waiver; or (b)&nbsp;amend, modify or
change any of its Organizational Documents (including by the filing or modification of any certificate of designation), other than any such amendments, restatements, supplements or other modifications or waivers which are not adverse in any material
respect to the interests of the Lenders. Each Loan Party shall deliver to the Agents complete and correct copies of any amendment, restatement, supplement or other modification to or waiver of the Revolving Loan Documents, the Management Agreement,
the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the Damiani Debt Documents, any Additional Subordinated Debt Documents or Organizational Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.12. <U><B>Subordinated Debt</B></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) [Reserved]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Make any payments in respect of the Quebec Subordinated Debt; <U>provided</U>, that the Loan Parties may make (i)&nbsp;regularly scheduled payments of
principal and interest in respect of the Quebec Subordinated Debt so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom, and (ii)&nbsp;prepayments of principal in
respect of the Quebec Subordinated Debt so long as (A)&nbsp;Fixed Charge Coverage Ratio, measured on a pro forma basis after giving effect to any such payment, is greater than 1.10:1.00, (B)&nbsp;Revolver Excess Availability as of such date
(calculated on a pro forma basis after taking into consideration the payment to be made) shall be greater than an amount equal to the product of (x)&nbsp;thirty percent (30%)&nbsp;multiplied by (y)&nbsp;the Revolving Borrowing Capacity
(<U>provided</U> that, for purposes of this clause (b)(ii)(B)(y), the Revolving Borrowing Capacity shall be calculated without deduction of the Availability Block, the Loan to Value Reserve and the Seasonal Availability Block (each as defined in the
Revolving Credit Agreement), (C)&nbsp;such payment is made within fifteen (15)&nbsp;days after the Borrowers have delivered to the Agents the financial statements pursuant to <B>Section&nbsp;10.1.2(b)</B>, (D)&nbsp;no Default or Event of Default
then exists or would (after taking into consideration the payment to be made) result therefrom and (E)&nbsp;not less than five (5)&nbsp;days prior to such payment, the Borrowers shall have delivered to the Agents a certificate certifying, and
providing appropriate calculations, as to the matters set forth in clauses (A)&nbsp;through (D)&nbsp;of this clause (b)(ii). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Make any payments in
respect of any Intercompany Debt; <U>provided</U>, that the Loan Parties may make such principal and interest payments so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result
therefrom. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) [Reserved;] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) Make any payments in
respect of the Montrovest Debt other than, so long as no Default or Event of Default then exists or would (after taking into consideration the payment to be made) result therefrom, regularly scheduled payments of interest in respect of the
Montrovest Debt as and when due pursuant to the Montrovest Debt Documents. No prepayment of, or payments of principal on, the Montrovest Debt may be made without the prior written consent of the Agents in their sole discretion. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) Make any payments in respect of any Additional Subordinated Debt other than to the extent permitted pursuant
to the Subordination Agreement entered into in connection with such Additional Subordinated Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) Make any payments in respect of the Damiani Debt
other than to the extent permitted pursuant to the Damiani Subordination Agreement or another Subordination Agreement in form, scope and substance satisfactory to the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.13. <U><B>Fundamental Changes; Asset Acquisition; Disposition of Assets</B></U><B>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Become a party to any merger, amalgamation or consolidation, or agree to or effect any asset acquisition or stock acquisition (other than the acquisition
of assets in the Ordinary Course of Business consistent with past practices) except (i)&nbsp;the merger, amalgamation or consolidation of one or more of the Subsidiaries of the Borrowers (other than a Borrower) or the Guarantors (other than a
Borrower) with and into one of the Borrowers or the Guarantors, <U>provided</U> that (A)&nbsp;in the event of any merger, amalgamation or consolidation of a Borrower and a Guarantor (other than a Borrower), such Borrower shall be the continuing or
surviving Person and (B)&nbsp;other than as described in clause (a)(i)(A) herein, in the event that any Borrower or any Guarantor (other than a Borrower) is a party to such merger, amalgamation or consolidation, such Borrower or such Guarantor shall
be the continuing or surviving Person, (ii)&nbsp;the merger, amalgamation or consolidation of two or more Subsidiaries of the Borrowers (other than a Borrower) or the Guarantors (other than a Borrower); <U>provided</U> that in the event any
Guarantor is a party to such merger, amalgamation, consolidation, asset acquisition or stock acquisition, such Guarantor shall be the continuing or surviving Person or (iii)&nbsp;any other mergers, amalgamations, consolidations, asset acquisitions
or stock acquisitions not otherwise contemplated pursuant to this <B>Section&nbsp;10.2.13(a)</B> in an aggregate amount not to exceed the Dollar Equivalent of $5,000,000, <U>provided</U> that, in each case, (x)&nbsp;in the event any Borrower is a
party to such merger, amalgamation, consolidation, asset acquisition or stock acquisition, such Borrower shall be the continuing or surviving Person, (y)&nbsp;the relevant Borrower or Guarantor takes all actions required by the Administrative Agent
in order for the Administrative Agent to acquire a perfected security interest (subject only to the first priority security interest in favor of the Revolving Agent or the Canadian Revolving Agent) in such newly acquired assets or stock; and
(z)&nbsp;in the case of an asset acquisition or a stock acquisition by any Loan Party, such Loan Party shall, at such Loan Party&#146;s expense, cause any new Subsidiary formed or acquired thereby to (A)&nbsp;join this Agreement and the other Loan
Documents as required pursuant to <B>Section&nbsp;10.1.9</B> and (B)&nbsp;if any shares of Capital Stock or Debt of such Subsidiary are owned by or on behalf of any Loan Party, such Loan Party shall cause such shares and promissory notes evidencing
such Debt to be pledged to the Administrative Agent within 45&nbsp;days after such Subsidiary is formed or acquired, <U>provided</U> that in no event shall compliance with this <B>Section&nbsp;10.2.13(a)</B> waive or be deemed a waiver or consent to
any transaction giving rise to the need to comply with this <B>Section&nbsp;10.2.13(a)</B> if such transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any such Subsidiary, an
approval of such Person as a Borrower or a Guarantor or permit the inclusion of any acquired assets in the computation of the Term Loan Borrowing Capacity (or any component definition thereof); or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Become a party to or agree to or effect any sale, lease, license, consignment, transfer or other disposition of assets, other than (i)&nbsp;the sale of
Inventory, the licensing of Intellectual Property and the disposition of obsolete assets, in each case in the Ordinary Course of Business and to a Person other than an Excluded Subsidiary, (ii)&nbsp;the sale of Inventory and other assets to a Person
other than an Excluded Subsidiary outside the Ordinary Course of Business in connection with Permitted Store Closings, (iii)&nbsp;the transactions described in <B>Section&nbsp;10.2.9(i)</B> hereof, and (iv)&nbsp;as long as no Event of Default exists
or would arise therefrom, sales of assets which are approved by the Collateral Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.14. <U><B>Sales and Leasebacks</B></U>. Except for sales of equipment in the Ordinary Course of Business to
a Person other than an Excluded Subsidiary, enter into any arrangement, directly or indirectly, whereby any Loan Party shall sell or transfer any Property owned by it in order then or thereafter to lease such Property or lease other Property that
such Loan Party intends to use for substantially the same purpose as the Property being sold or transferred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.15. <U><B>Transactions with
Affiliates</B></U>. Directly or indirectly, engage in any transaction with any Affiliate (other than for services as employees, officers and directors, including employee discounts consistent with past practices), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any such Affiliate or, to the knowledge of the Borrowers, any
corporation, partnership, trust or other Person in which any such Affiliate has a substantial interest or is an officer, director, trustee or partner, except to the extent (i)&nbsp;the terms are more favorable to such Person than would have been
obtainable on an arm&#146;s-length basis with an unrelated party in the Ordinary Course of Business; or (ii)&nbsp;in accordance with <B>Section&nbsp;10.2.6(b)</B>, <B>Section&nbsp;10.2.6(e)</B>, <B>Section&nbsp;10.2.6(f)</B> or
<B>Section&nbsp;10.2.13(b)(iii)</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.16. <U><B>Business Activities; Permitted Store Closings</B></U><B>.</B> (a)&nbsp;Engage directly or indirectly
(whether through the Subsidiaries or otherwise) in any type of business other than the businesses conducted by the Loan Parties on the Third Amendment Effective Date and in related businesses, (b)&nbsp;execute, alter, modify, or amend any lease;
<U>provided</U>, <U>however</U>, that the Loan Parties may (i)&nbsp;alter, modify or amend any lease in a manner beneficial to the Loan Parties so long as any such alteration, modification or amendment does not adversely affect any rights of the
Agents or the Lenders hereunder and (ii)&nbsp;the Loan Parties may terminate the leases on the retail locations which constitute a Permitted Store Closing, or (c)&nbsp;except as provided in clause (b)&nbsp;hereof, commit to close any location at
which a Loan Party maintains, offers for sales, or stores any of the Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.17. <U><B>Accounting Changes; Fiscal Year; Tax
Consolidation</B></U><B></B>.<B></B> (a)&nbsp;Make or permit any material change, any change which would have a material impact on the results of operations or financial condition or financial statements or make any change which would be
determinative as to whether or not the Borrowers and their Subsidiaries would be in compliance with any of the covenants set forth in <B>Section&nbsp;10.2</B> hereof, in accounting policies or reporting practices, without the consent of the Agents,
which consent shall not be unreasonably withheld, except changes that are required by or permitted under GAAP or (b)&nbsp;change its Fiscal Year end from the last Saturday of March of each year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.18. <U><B>Margin Regulations</B></U>. Use all or any portion of the proceeds of the Term Loan to purchase or carry margin stock (within the meaning of
Regulation U of the Federal Reserve Board) in contravention of Regulation U of the Federal Reserve Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.19. <U><B>Hedging Agreements</B></U>.
Enter into any Hedging Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.20. <U><B>No Speculative Transactions</B></U>. Engage in any transaction involving commodity options, futures
contracts or similar transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.21. <U><B>Amendment of Rolex USA Documents and Rolex Canada Documents</B></U>. Amend any provision of any Rolex
USA Document or any Rolex Canada Document in a manner adverse to the Administrative Agent and the other Secured Parties without the prior written consent of the Agents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.22. <U><B>Canadian Subsidiaries</B></U>. Permit the Canadian Borrower to have any Subsidiary other than the US Borrower, BME IPCO and CGS Canada. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.23. <U><B>Canadian Plans</B></U><B>.</B> Permit any Canadian Loan Party or any of its Subsidiaries to
maintain any Canadian Plan that is a defined benefit pension plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.24. <U><B>Jose Hess Trademark</B></U>. Permit any Loan Party or any Subsidiary of
a Loan Party to use the &#147;Jose Hess&nbsp;&amp; Design&#148; trademark with registration number 1,100,692 until such trademark has been assigned to a Loan Party and the security interest and Lien of the Administrative Agent is properly recorded
against such trademark with the United States Patent and Trademark Office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.25. <U><B>Certain Consignment Arrangements</B></U>. Permit any Loan Party
or any Subsidiary of a Loan Party to (a)&nbsp;hold any consigned inventory from any of Clover Corporation, M. Fabrikant&nbsp;&amp; Sons, Inc. or S.H.R. Inc. unless and until the Agents shall have received evidence satisfactory to the Agents that any
UCC filings on record or to be recorded in respect of any consignment arrangements made by such Persons are satisfactory to the Agents, or (b)&nbsp;engage in any consignment arrangement with any Loan Party or any Subsidiary of a Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.26. <U><B>Antilayering</B></U>. Notwithstanding the foregoing, neither a Loan Party nor any Subsidiary of a Loan Party will create or incur any
Indebtedness which is contractually subordinated or junior in right of payment to any other Indebtedness of the Loan Parties, unless such Indebtedness is also subordinated or junior in right of payment, in the same manner and to the same extent, to
the Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.2.27. <U><B>Financial Covenant</B></U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><U>Minimum Consolidated EBITDA</U>. Fail to achieve Consolidated EBITDA, of at least the amount set forth in the following table for the
applicable period set forth opposite thereto: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B>Applicable Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Minimum&nbsp;Consolidated<BR>EBITDA</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9-month period ending December&nbsp;31, 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">11,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10-month period ending January&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,850,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11-month period ending February&nbsp;28, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending March&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending April&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending May&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending June&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending July&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending August 31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending September&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending October&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:61.50pt; font-size:8pt; font-family:Times New Roman"><B>Applicable Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Minimum&nbsp;Consolidated<BR>EBITDA</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending November&nbsp;30, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending December&nbsp;31, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending January&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending February&nbsp;28, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending March&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending April&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending May&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending June&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending July&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending August&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending September&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending October&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending November&nbsp;30, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending December&nbsp;31, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending January&nbsp;31, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending February&nbsp;28, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12-month period ending March&nbsp;31, 2017 and each 12-month period ending thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth herein, the Minimum Consolidated EBITDA financial covenant set out above
shall only be tested for any period ending on or after January&nbsp;31, 2015 if Revolver Excess Availability is less than $8,000,000 for a period of at least 5 consecutive Business Days (an &#147;<U>Availability Shortfall</U>&#148;), in which case
such financial covenant shall be tested as at the last of day of the most recently ended month prior to any such Availability Shortfall and at the end of the month during which such Availability Shortfall occurs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


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<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;11.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>EVENTS OF DEFAULT; REMEDIES ON DEFAULT </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.1. <U>Events of Default</U></B><B>.</B> Each of the
following shall be an &#147;<U>Event of Default</U>&#148; hereunder, if the same shall occur for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Any Borrower fails to pay any principal of the Term Loan, any interest on the Term Loan, any fee or any other amount payable under this Agreement or any
other Loan Document, when and as the same shall become due and payable (whether at stated maturity, on demand, upon acceleration or otherwise); or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)
(i) Any information contained in any Compliance Certificate or Borrowing Base Certificate was untrue or incorrect in any material respect when made or (ii)&nbsp;any representation or warranty made or delivered to any Agent or any Lender by any Loan
Party herein, in connection with any Loan Document or transaction contemplated thereby, or in any written statement, report, financial statement or certificate (other than a Borrowing Base Certificate or Compliance Certificate) is untrue, incorrect
or misleading in any material respect when given or confirmed (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof); or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) (i) Any Loan Party breaches or fails to perform any covenant contained in <B>Section&nbsp;7</B>, <B>8</B>, <B>10.1</B> (other than <B>Section 10.1.2(a),
(b), (c) or (g))</B> or <B>10.2</B>; or (ii)&nbsp;any Loan Party breaches or fails to perform any covenant contained <B>Section&nbsp;10.1.2(a), (b), (c)&nbsp;or (g)</B>&nbsp;for five (5)&nbsp;days after the date otherwise set forth in such section
as a deadline for compliance thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Any Loan Party breaches or fails to perform any other covenant contained in any Loan Documents, and such
breach or failure is not cured within 15 days after a Senior Officer of such Loan Party receives notice thereof from the Administrative Agent; <U>provided</U>, <U>however</U>, that such notice and opportunity to cure shall not apply if the breach or
failure to perform is not capable of being cured within such period; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) Any Guarantor repudiates, revokes or attempts to revoke its Guaranty; any
Loan Party denies or contests the validity or enforceability of any Loan Documents or Obligations, or the perfection or priority of any Lien granted to the Administrative Agent; or any Loan Document ceases to be in full force or effect for any
reason (other than a waiver or release by the Administrative Agent and the Lenders) or any Loan Party shall so state in writing; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) Any judgment or
order for the payment of money is entered against a Loan Party or any of its Subsidiaries in an amount that exceeds, individually or cumulatively with all unsatisfied judgments or orders against all the Loan Parties and their Subsidiaries, the
Dollar Equivalent of $1,000,000 (net of any insurance coverage therefor acknowledged in writing by the insurer), and shall remain unsatisfied, undischarged, unvacated, unbonded or unstayed for a period of 30 days; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) Any Loan Party or any of its Subsidiaries becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or any
writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any Loan Party or any of its Subsidiaries and is not released, vacated or fully bonded within 45 days after its
issue or levy; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) Any loss, theft, damage or destruction occurs with respect to any Collateral if the amount not covered by
insurance exceeds the Dollar Equivalent of $1,000,000; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) Any Loan Party or any of its Subsidiaries is enjoined, restrained or in any way prevented
by any Governmental Authority from conducting (i)&nbsp;any material part of its business or (ii)&nbsp;business at more than 10 retail locations, and such order shall continue in effect for more than 5 days; any Loan Party or any of its Subsidiaries
suffers the loss, revocation or termination of any material license, permit, lease or agreement necessary to its business and such loss, revocation or termination shall continue unremedied for 5 days; there is a cessation of any material part of a
Loan Party&#146;s or any of its Subsidiaries&#146; business for a material period of time; any Collateral or Property of a Loan Party or any of its Subsidiaries is taken or impaired through condemnation and such loss, revocation or termination is
reasonably likely to result in a Material Adverse Effect; any Loan Party or any of its Subsidiaries agrees to or commences any liquidation, dissolution or winding up of its affairs; or any Loan Party or any of its Subsidiaries ceases to be Solvent;
or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j) Any Insolvency Proceeding is commenced by any Loan Party or any of its Subsidiaries; an Insolvency Proceeding is commenced against any Loan Party
or any of its Subsidiaries and such Loan Party or such Subsidiary consents to the institution of the proceeding against it, the petition, filing or other proceeding commencing the proceeding is not timely controverted by such Loan Party or such
Subsidiary, such petition, filing or other proceeding is not dismissed or stayed within 45 days after its filing or institution, or an order for relief is entered in the proceeding; a trustee (including an interim trustee), receiver (including an
interim receiver or receiver manager) monitor, agent, custodian, sequestrator, administrator, liquidator or like official is appointed to take possession of any substantial Property of or to operate any of the business of any Loan Party or any of
its Subsidiaries; or any Loan Party or any of its Subsidiaries makes a proposal or offer (or files a notice of intention to make a proposal or offer) of settlement, extension, arrangements or composition to its unsecured creditors generally; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k) The Borrowers or any ERISA Affiliate incurs any liability to the PBGC or a Guaranteed Pension Plan pursuant to Title IV of ERISA in an aggregate amount
exceeding the Dollar Equivalent of $100,000, or the Borrowers or any ERISA Affiliate is assessed withdrawal liability pursuant to Title IV of ERISA by a Multiemployer Plan requiring aggregate annual payments exceeding the Dollar Equivalent of
$100,000, the receipt by the Borrowers or any ERISA Affiliate of notice from any Multiemployer Plan that it is in critical or endangered status, pursuant to Section&nbsp;432 of the Code and Section&nbsp;305 of ERISA, or any of the following occurs
with respect to a Guaranteed Pension Plan: (i)&nbsp;an ERISA Reportable Event, or a failure to satisfy the minimum funding standards under the Pension Funding Rules, <U>provided</U> that the Agents determine in their reasonable discretion that such
event (A)&nbsp;could be expected to result in a liability of the Borrowers or any of their Subsidiaries to the PBGC or such Guaranteed Pension Plan in an aggregate amount exceeding the Dollar Equivalent of $500,000 and (B)&nbsp;could constitute
grounds for the termination of such Guaranteed Pension Plan by the PBGC, for the appointment by the appropriate United States District Court of a trustee to administer such Guaranteed Pension Plan or for the imposition of a Lien in favor of such
Guaranteed Pension Plan; or (ii)&nbsp;the appointment by a United States District Court of a trustee to administer such Guaranteed Pension Plan; or (iii)&nbsp;the institution by the PBGC of proceedings to terminate such Guaranteed Pension Plan; or
(iv)&nbsp;any event or condition shall occur or exist with respect to a Canadian Plan that could, in the Agents&#146; good faith judgment, subject any Canadian Loan Party or any of its Subsidiaries to any tax, penalty or other liabilities under the
<I>Supplemental Pension Plans Act</I> (Qu&eacute;bec) or the <I>Pension Benefits Act</I> (Ontario) or any other Applicable Pension Legislation and which could reasonably be expected to give rise to a Material Adverse Effect, or if any Canadian Loan
Party or any of its Subsidiaries is in default with respect to required payments to a Canadian Plan or any Lien arises (save for contribution amounts not yet due) in connection with any Canadian Plan; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(l) Any Loan Party or any of its Subsidiaries is criminally indicted or convicted for (i)&nbsp;a felony committed
in the conduct of such Person&#146;s business, or (ii)&nbsp;any state, federal or foreign Applicable Law (including the Controlled Substances Act, Money Laundering Control Act of 1986 and Illegal Exportation of War Materials Act) that could lead to
forfeiture of any assets of such Person included in the Term Loan Borrowing Capacity or any assets of such Person not included in the Term Loan Borrowing Capacity but having a fair market value in excess of the Dollar Equivalent of $1,000,000; or
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(m) (i) any breach or default of a Loan Party or any of its Subsidiaries occurs under any of the Revolving Loan Documents (or any documents relating to
renewals, refinancings and extensions of the Debt incurred thereunder) or (ii)&nbsp;any such Debt shall become or be declared to be due and payable, or be required to be prepaid or repurchased (other than by a regularly scheduled or required
prepayment), prior to the stated maturity thereof; <U>provided</U> that such breach or default shall be deemed continuing hereunder until the Agents or the Required Lenders have expressly waived such breach or default in writing, notwithstanding the
fact that such breach or default may have been waived under the terms of the Revolving Loan Documents; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(n) (i) the earlier of (A)&nbsp;receipt by a
Loan Party or any of its Subsidiaries of notice from any applicable party under any of the Rolex USA Documents, the Rolex Canada Documents, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the Damiani Debt Documents or the
Additional Subordinated Debt Documents of the occurrence and continuance of a payment default or the occurrence of a payment default under any of such agreements which has continued for fifteen (15)&nbsp;days or (B)&nbsp;any other material breach or
default of a Loan Party or any of its Subsidiaries occurs under any of the Rolex USA Documents, the Rolex Canada Documents, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the Damiani Debt Documents or the Additional
Subordinated Debt Documents (or any documents relating to renewals, refinancings and extensions of the Debt incurred thereunder) or (ii)&nbsp;any such Debt shall become or be declared to be due and payable, or be required to be prepaid or
repurchased (other than by a regularly scheduled or required prepayment), prior to the stated maturity thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(o) Subject to
<B>Section&nbsp;11.1(n)</B>, (i)&nbsp;any breach or default of a Loan Party or any of its Subsidiaries occurs under any document, instrument or agreement to which it is a party or by which it or any of its Properties is bound, relating to any Debt
(other than the Obligations) in excess of the Dollar Equivalent of $1,000,000, if the maturity of or any payment with respect to such Debt may be accelerated or demanded due to such breach or default or (ii)&nbsp;any such Debt shall become or be
declared to be due and payable, or be required to be prepaid or repurchased (other than by a regularly scheduled or required prepayment), prior to the stated maturity thereof; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(p) There shall occur any material damage to, or loss, theft or destruction of, any Collateral, whether or not insured, or any strike, lockout, labor dispute,
embargo, condemnation, act of God or public enemy, or other casualty, which in any such case causes, for more than 5 consecutive days, the cessation or substantial curtailment of revenue producing activities at more than 5 retail locations not
covered by business interruption insurance; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(q) (i) Any Security Document shall for any reason fail or cease to create valid, perfected and
enforceable Liens on any Collateral purported to be covered thereby or, except as permitted by the Loan Documents, such Liens shall fail or cease to be a perfected with the priorities contemplated by the Intercreditor Agreement, the Quebec
Subordination Agreements, the Rolex USA Subordination Agreement, the Rolex Canada Subordination Agreement, the other Subordination Agreements and the other Security Documents, or any Loan Party shall so state in writing; or (ii)&nbsp;any breach or
default by any Person (other than the Administrative Agent) occurs under any Subordination Agreement or the Intercreditor Agreement; or (iii)&nbsp;any Person (other than the Administrative Agent) shall repudiate, revoke
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


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or attempt to revoke any Subordination Agreement or the Intercreditor Agreement; or (iv)&nbsp;any of the terms of any Subordination Agreement or the Intercreditor Agreement shall be invalidated
or cease to be in full force and effect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(r) A Change of Control occurs; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(s) A Montrovest LC Event occurs, unless within ten (10)&nbsp;Business Days after receipt of written notice from the Administrative Agent, a replacement
Montrovest LC is issued by an issuing bank satisfactory to the Administrative Agent and on the same terms (other than, to the extent applicable, the extension of the expiry date) as the Montrovest LC issued on the Third Amendment Effective Date.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.2. <U>Remedies upon Default</U></B><B>.</B> If an Event of Default described in <B>Section&nbsp;11.1(j)</B> occurs with respect to any Loan Party,
then to the extent permitted by Applicable Law, all Obligations shall become automatically due and payable and all Commitments shall terminate, without any action by the Agents or notice of any kind. In addition, or if any other Event of Default
exists, the Agents may in their discretion (and shall upon written direction of the Required Lenders) do any one or more of the following from time to time: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) declare any Obligations immediately due and payable, whereupon they shall be due and payable without diligence, presentment, demand, protest or notice of
any kind, all of which are hereby waived by the Loan Parties to the fullest extent permitted by law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) make any adjustment to the Term Loan Borrowing
Capacity or any component definition therein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) require the Loan Parties to Cash Collateralize Obligations that are contingent or not yet due and
payable, and, if the Loan Parties fail promptly to deposit such Cash Collateral, the Administrative Agent may (and shall upon the direction of the Required Lenders) advance the required Cash Collateral as a Protective Advance; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) with respect to any Collateral consisting of Inventory, conduct one or more going out of business sales, in the Administrative Agent&#146;s own right or
by one or more agents, representatives, receivers and contractors. Such sale(s) may be conducted upon any premises owned, leased, or occupied by any Loan Party, and in conjunction with any such sale, (i)&nbsp;the Administrative Agent and any such
agent, representative, receiver or contractor may augment the Inventory with other goods (all of which other goods shall remain the sole property of the Administrative Agent or such agent or contractor), (ii)&nbsp;any amounts realized from the sale
of such goods which constitute augmentations to the Inventory (net of an allocable share of the costs and expenses incurred in their disposition) shall be the sole property of the Administrative Agent or such agent or contractor and no Loan Party
nor any Person claiming under or in right of such Loan Party shall have any interest therein, (iii)&nbsp;each purchaser at any such sale shall hold the property sold absolutely, free from any claim or right on the part of any Loan Party, and, to the
extent permitted by Applicable Law, each Loan Party hereby waives all rights of redemption, stay, valuation and appraisal which such Loan Party now has or may at any time in the future have under any rule of law or statute now existing or hereafter
enacted; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) exercise any other rights or remedies afforded under any agreement (including, without limitation, this Agreement and the other Loan
Documents), by law, at equity or otherwise, including the rights and remedies of a secured party under the UCC, the PPSA, the Civil Code of Qu&eacute;bec or Applicable Law. Such rights and remedies include the rights to (i)&nbsp;take possession of
any Collateral; (ii)&nbsp;require the Loan Parties to assemble Collateral, at the Borrowers&#146; expense, and make it available to the Administrative Agent at a place designated by the Administrative Agent; (iii)&nbsp;enter any premises where
Collateral is located and store Collateral on such premises until sold (and if the premises are owned or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


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leased by a Loan Party, the Loan Parties agree not to charge for such storage); and (iv)&nbsp;sell or otherwise dispose of any Collateral in its then condition, or after any further manufacturing
or processing thereof, at public or private sale, with such notice as may be required by Applicable Law, in lots or in bulk, at such locations, all as the Administrative Agent, in its discretion, deems advisable. Each Loan Party agrees that 5
days&#146; notice of any proposed sale or other disposition of Collateral by the Administrative Agent shall be reasonable. The Administrative Agent shall have the right to conduct such sales on any Loan Party&#146;s premises, without charge, and
such sales may be adjourned from time to time in accordance with Applicable Law. The Administrative Agent shall have the right to sell, lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and the Administrative
Agent may purchase any Collateral at public or, if permitted by law, private sale and, in lieu of actual payment of the purchase price, may set off the amount of such price against the Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.3.</B> <U><B>License</B></U><B>.</B> The Administrative Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or
sub-license (without payment of royalty or other compensation to any Person) any or all Intellectual Property of the Loan Parties, computer hardware and software, trade secrets, brochures, customer lists, promotional and advertising materials,
labels, packaging materials and other Property, in advertising for sale, marketing, selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral in each case after the occurrence, and
during the continuance, of an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.4. <U>Setoff</U></B><B>.</B> The Agents, the Lenders and their Affiliates and branches are each
authorized by the Loan Parties at any time that an Event of Default has occurred and is continuing, without notice to the Loan Parties or any other Person, to set off and to appropriate and apply any deposits (general or special), funds, claims,
obligations, liabilities or other Debt at any time held or owing by any Agent, any Lender or any such Affiliate or branch to or for the account of any Loan Party against any Obligations, whether or not demand for payment of such Obligation has been
made, any Obligations have been declared due and payable, are then due, or are contingent or unmatured, or the Collateral or any guaranty or other security for the Obligations is adequate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.5. <U>Remedies Cumulative; No Waiver</U></B><B>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.5.1. <U><B>Cumulative Rights</B></U>. All covenants, conditions, provisions, warranties, guaranties, indemnities and other undertakings of the Loan Parties
contained in the Loan Documents are cumulative and not in derogation or substitution of each other. In particular, the rights and remedies of the Agents and the Lenders are cumulative, may be exercised at any time and from time to time, concurrently
or in any order, and shall not be exclusive of any other rights or remedies that the Agents and the Lenders may have, whether under any agreement, by law, at equity or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.5.2. <B><U>Waivers</U></B>. The failure or delay of any party hereto to require strict performance by any other party thereto with any terms of the Loan
Documents, or to exercise any rights or remedies with respect to Collateral or otherwise, shall not operate as a waiver thereof nor as establishment of a course of dealing. All rights and remedies shall continue in full force and effect until the
Full Payment of all Obligations. No modification of any terms of any Loan Documents (including any waiver thereof) shall be effective, unless such modification is specifically provided in a writing directed to the Borrowers and executed by the
Borrowers and the Agents or the requisite Lenders, and such modification shall be applicable only to the matter specified. No waiver of any Default or Event of Default shall constitute a waiver of any other Default or Event of Default that may exist
at such time, unless expressly stated. If any Agent or any Lender accepts performance by any Loan Party under any Loan Documents in a manner other than that specified therein, or during any Default or Event of Default, or if any Agent or any Lender
shall delay or exercise any right or remedy under any Loan Documents, such acceptance, delay or exercise shall not operate to waive any Default or Event of Default nor to preclude exercise of any other right or remedy. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.6. <U>Judgment Currency</U></B><B>.</B> If, for the purpose of obtaining judgment in any court or obtaining
an order enforcing a judgment, it becomes necessary to convert any amount due under this Agreement in Dollars or in any other currency (hereinafter in this <B>Section&nbsp;11.6</B> called the &#147;first currency&#148;) into any other currency
(hereinafter in this <B>Section&nbsp;11.6</B> called the &#147;second currency&#148;), then the conversion shall be made at Bank of America&#146;s spot rate of exchange for buying the first currency with the second currency prevailing at the
Administrative Agent&#146;s close of business on the Business Day next preceding the day on which the judgment is given or (as the case may be) the order is made. Any payment made to any Agent or any Lender pursuant to this Agreement in the second
currency shall constitute a discharge of the obligations of the Borrowers to pay to the Agents and the Lenders any amount originally due to the Agents and the Lenders in the first currency under this Agreement only to the extent of the amount of the
first currency which each Agent and each of the Lenders is able, on the date of the receipt by it of such payment in any second currency, to purchase, in accordance with such Agent&#146;s and such Lender&#146;s normal banking procedures, with the
amount of such second currency so received. If the amount of the first currency falls short of the amount originally due to the Agents and the Lenders in the first currency under this Agreement, each of the Borrowers, with respect to itself and its
Subsidiaries, agrees that it will indemnify each Agent and each of the Lenders against and save each Agent and each of the Lenders harmless from any shortfall so arising. This indemnity shall constitute an obligation of each such Borrower separate
and independent from the other obligations contained in this Agreement, shall give rise to a separate and independent cause of action and shall continue in full force and effect notwithstanding any judgment or order for a liquidated sum or sums in
respect of amounts due to any Agent or any Lender under this Agreement or under any such judgment or order. Any such shortfall shall be deemed to constitute a loss suffered by the Agents and each such Lender, as the case may be, and the Borrowers
shall not be entitled to require any proof or evidence of any actual loss. The covenant contained in this <B>Section&nbsp;11.6</B> shall survive the Full Payment of the Obligations. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;12.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>THE AGENTS </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.1. <U>Appointment, Authority and Duties of the Agents</U></B><B>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.1.1. <U><B>Appointment and Authority of the Agents</B></U><B>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Each Lender appoints and designates Crystal as the Administrative Agent hereunder. The Administrative Agent may, and each Lender authorizes the
Administrative Agent to, enter into all Loan Documents (including, without limitation, the Intercreditor Agreement) to which the Administrative Agent is intended to be a party and accept all Security Documents, for the Administrative Agent&#146;s
benefit and the benefit of the Secured Parties. Each Lender agrees that any action taken by the Administrative Agent or the Required Lenders, in accordance with the provisions of the Loan Documents, and the exercise by the Administrative Agent or
the Required Lenders of any rights or remedies set forth therein, together with all other powers reasonably incidental thereto, shall be authorized and binding upon all Lenders. Without limiting the generality of the foregoing, the Administrative
Agent shall have the sole and exclusive authority to (a)&nbsp;act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in connection with the Loan Documents; (b)&nbsp;execute and deliver as the
Administrative Agent each Loan Document to which it is intended to be a party, including any intercreditor or subordination agreement, and accept delivery of each Loan Document from any Loan Party or other Person; (c)&nbsp;act as collateral agent
for the Secured Parties for purposes of perfecting and administering Liens under the Loan Documents and all other matters concerning Collateral of the US Loan Parties and the Non-Canadian Loan Parties and Collateral of the Canadian Loan Parties
situated in the United States, and for all other purposes stated therein; and (d)&nbsp;exercise all rights and remedies given to the Administrative Agent with respect to any Collateral under the Loan Documents, Applicable Law or otherwise. The
duties of the Administrative Agent shall be ministerial and administrative in nature, and the Administrative Agent shall not have a fiduciary relationship with any Lender, Secured Party, Participant or other Person, by reason of any Loan Document or
any transaction relating thereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Each Lender appoints and designates Crystal as Collateral Agent hereunder. Collateral Agent may, and each
Lender authorizes Collateral Agent to, enter into all Loan Documents to which Collateral Agent is intended to be a party and accept all Security Documents, for Collateral Agent&#146;s benefit and the benefit of the Secured Parties. Each Lender
agrees that any action taken by Collateral Agent in accordance with the provisions of the Loan Documents, and the exercise by Collateral Agent of any rights or remedies set forth therein, together with all other powers reasonably incidental thereto,
shall be authorized and binding upon all Lenders. The duties of Collateral Agent shall be ministerial and administrative in nature, and Collateral Agent shall not have a fiduciary relationship with any Lender, Secured Party, Participant or other
Person, by reason of any Loan Document or any transaction relating thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) For the purposes of the grant of security under the laws of the Province
of Qu&eacute;bec which may now or in the future be required to be provided by any Loan Party, the Administrative Agent is hereby irrevocably authorized and appointed to act as the holder of an irrevocable power of attorney (<I>fond&eacute; de
pouvoir</I>) (within the meaning of Article 2692 of the <I>Civil Code of Quebec</I>) in order to hold any hypothec granted under the laws of the Province of Qu&eacute;bec as security for any debenture, bond or other title of indebtedness that may be
issued by any such Loan Party pursuant to a deed of hypothec and to exercise such rights and duties as are conferred upon a <I>fond&eacute; de pouvoir</I> under the relevant deed of hypothec and Applicable Laws (with the power to delegate any such
rights or duties). Moreover, in respect of any pledge by any such Loan Party of any such debenture, bond or other title of indebtedness as security for any Obligations, the Administrative Agent shall also be authorized to hold such debenture, bond
or other title of indebtedness as agent and pledgee for its own account and for the benefit of all Secured Parties<B>,</B> the whole notwithstanding the provisions of Section&nbsp;32 of <I>An Act respecting the Special Powers of Legal Persons</I>
(Quebec). The execution prior to the date hereof by the Administrative Agent, acting as the holder of an irrevocable power of attorney (<I>fond&eacute; de pouvoir</I>), of any deed of hypothec or other security documents made pursuant to the laws of
the Province of Quebec, is hereby ratified and confirmed. Any person who becomes a Lender or successor Administrative Agent shall be deemed to have consented to and ratified the foregoing appointment of the Administrative Agent as <I>fond&eacute; de
pouvoir</I>, agent and mandatary on behalf of all Secured Parties, including such person as a Secured Party. For greater certainty, the Administrative Agent, acting as the holder of an irrevocable power of attorney (<I>fond&eacute; de pouvoir</I>),
shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of the Administrative Agent in this Agreement, which shall apply <I>mutatis mutandis</I>. In the event of the resignation and
appointment of a successor Administrative Agent, such successor Administrative Agent shall also act as the holder of an irrevocable power of attorney (<I>fond&eacute; de pouvoir</I>). Notwithstanding the provisions of Section&nbsp;14.12, this
Section&nbsp;12.1.1(c) shall be governed by, and construed in accordance with, the Applicable Laws of the Province of Quebec. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) The relationship
between the Administrative Agent and each of the other Secured Parties is that of an independent contractor. The use of the term &#147;<U>Administrative Agent</U>&#148; is for convenience only and is used to describe, as a form of convention, the
independent contractual relationship between the Administrative Agent and each of the other Secured Parties. Nothing contained in this Agreement nor the other Loan Documents shall be construed to create an agency, trust or other fiduciary
relationship between the Administrative Agent and any of the other Secured Parties. The relationship between Collateral Agent and each of the other Secured Parties is that of an independent contractor. The use of the term &#147;<U>Collateral
Agent</U>&#148; is for convenience only and is used to describe, as a form of convention, the independent contractual relationship between Collateral Agent and each of the other Secured Parties. Nothing contained in this Agreement nor the other Loan
Documents shall be construed to create an agency, trust or other fiduciary relationship between Collateral Agent and any of the other Secured Parties </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) As an independent contractor empowered by the Secured Parties to exercise certain rights and perform certain
duties and responsibilities hereunder and under the other Loan Documents, each Agent is nevertheless a &#147;<U>representative</U>&#148; of the Secured Parties, as that term is defined in Article 1 of the Uniform Commercial Code, for purposes of
actions for the benefit of the Lenders and the Agents with respect to all collateral security and guaranties contemplated by the Loan Documents. Such actions include the designation of an Agent, as applicable, as &#147;<U>secured</U>
<U>party</U>&#148;, &#147;<U>mortgagee</U>&#148; or the like on all financing statements and other documents and instruments, whether recorded, filed, registered or otherwise, relating to the attachment, perfection, enforceability, priority or
enforcement of any security interests, mortgages, hypothecs or deeds of trust in collateral security intended to secure the payment or performance of any of the Obligations, all for the benefit of the Secured Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.1.2. <B><U>Duties</U></B>. Except as may otherwise be agreed among the Agents and the Lenders in writing from time to time, no Agent shall have any duties
except those expressly set forth in the Loan Documents, nor be required to initiate or conduct any Enforcement Action except to the extent directed to do so by the Required Lenders while an Event of Default exists. The conferral upon any Agent of
any right shall not imply a duty on such Agent&#146;s part to exercise such right, unless instructed to do so by the Required Lenders in accordance with this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.1.3. <U><B>Agent Professionals</B></U>. Each Agent may perform its duties through agents and employees. Each Agent may consult with and employ Agent
Professionals, and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by an Agent Professional. No Agent shall be responsible for the negligence or misconduct of any agents,
employees or Agent Professionals selected by it with reasonable care. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.1.4. <U><B>Instructions of the Required Lenders</B></U>. The rights and remedies
conferred upon the Agents under the Loan Documents may be exercised without the necessity of joinder of any other party, unless required by Applicable Law. Each Agent may request instructions from the Required Lenders with respect to any act
(including the failure to act) in connection with any Loan Documents, and may seek assurances to its satisfaction from the Lenders of their indemnification obligations under <B>Section&nbsp;12.6</B> against all Claims that could be incurred by such
Agent in connection with any act. Each Agent shall be entitled to refrain from any act until it has received such instructions or assurances, and no Agent shall incur liability to any Person by reason of so refraining. Instructions of the Required
Lenders shall be binding upon all Lenders, and no Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or refraining from acting in accordance with the instructions of the Required Lenders.
Notwithstanding the foregoing, instructions by and consent of all Lenders shall be required in the circumstances described in <B>Section&nbsp;14.1.1</B>, and in no event shall, and in no event shall the Required Lenders, without the prior written
consent of each Lender, direct the Administrative Agent to accelerate and demand payment of any portion of the Term Loan held by one Lender without accelerating and demanding payment of the Term Loan in its entirety. In no event shall any Agent be
required to take any action that, in its opinion, is contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.2. <U>Agreements Regarding Collateral and Field Examination Reports</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.2.1. <U><B>Lien Releases; Care of Collateral</B></U>. The Lenders authorize the Administrative Agent to release any Lien with respect to any Collateral
(a)&nbsp;upon the occurrence of the Full Payment of the Obligations, (b)&nbsp;that is the subject of a disposition which is permitted under this Agreement (including under <B>Section&nbsp;10.2.13</B>) or a Lien which is a Permitted Lien entitled to
priority over the Administrative Agent&#146;s Liens, (c)&nbsp;is non-material and not of the type included in the Term Loan Borrowing Capacity, or (d)&nbsp;with the written consent of all Lenders. The Administrative Agent shall not have any
obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Loan Party, or is cared for, protected, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
insured or encumbered, nor to assure that the Administrative Agent&#146;s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any
duty of care with respect to any Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.2.2. <U><B>Possession of Collateral</B></U>. The Agents and the Lenders appoint each Agent and each other
Lender as agent for the purpose of perfecting Liens (for the benefit of the Secured Parties) in any Collateral that, under the UCC, PPSA or other Applicable Law, can be perfected by possession. If any Lender obtains possession of any such
Collateral, it shall notify the Administrative Agent thereof and, promptly upon the Administrative Agent&#146;s request, deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative
Agent&#146;s instructions or as required by the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.2.3. <B><U>Reports</U></B>. The Administrative Agent shall promptly, upon
receipt thereof, forward to each Lender (other than Collateral Agent who shall receive such items directly from the Persons providing such reports) copies of the results of any field audit or other examination or any appraisal prepared by or on
behalf of any Agent with respect to any Loan Party or Collateral (&#147;<U>Report</U>&#148;). Each Lender agrees (a)&nbsp;that no Agent makes any representation or warranty as to the accuracy or completeness of any Report, and shall not be liable
for any information contained in or omitted from any Report; (b)&nbsp;that the Reports are not intended to be comprehensive audits or examinations, and that any Agent or any other Person performing any audit or examination will inspect only specific
information regarding Obligations or the Collateral and will rely significantly upon the Loan Parties&#146; books and records as well as upon representations of the Loan Parties&#146; officers and employees; and (c)&nbsp;to keep all Reports
confidential and strictly for such Lender&#146;s internal use, and not to distribute any Report (or the contents thereof) to any Person (except to such Lender&#146;s Participants, attorneys and accountants) or use any Report in any manner other than
administration of the Term Loan and other Obligations. Each Lender agrees to indemnify and hold harmless each Agent and any other Person preparing a Report from any action such Lender may take as a result of or any conclusion it may draw from any
Report, as well as any Claims arising in connection with any third parties that obtain all or any part of a Report through such Lender, <U>provided</U> that no Lender shall have any obligation to indemnify and hold harmless such other Person
preparing a Report for any claims arising that are determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct of such other Person preparing such Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.3. <U>Reliance by the Agents</U></B><B>.</B> Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any certification,
notice or other communication (including those by telephone, telex, telegram, telecopy, electronic transmission or e-mail) believed by it to be genuine and correct and to have been signed, sent or made by the proper Person, and upon the advice and
statements of the Agent Professionals. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.4. <U>Action Upon Default</U></B><B>.</B> No Agent shall be deemed to have knowledge of any Default or Event
of Default unless it has received written notice from a Lender or the Borrower specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default or Event of Default, it shall promptly notify the Agents and the other Lenders
thereof in writing. Each Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Agents and the Required Lenders, it will not take any Enforcement Action, accelerate its Obligations, or exercise any
right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights
against a Loan Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.5. <U>Ratable Sharing</U></B><B>.</B> If any Lender shall obtain any payment or reduction of any
Obligation, whether through set-off or otherwise, in excess of its share of such Obligation, determined on a Pro Rata basis or in accordance with <B>Section&nbsp;5.5</B>, as applicable, such Lender shall forthwith purchase from the Administrative
Agent and the other applicable Lenders such participations in the affected Obligation as are necessary to cause the purchasing Lender to share the excess payment or reduction on a Pro Rata basis or in accordance with <B>Section&nbsp;5.5</B>, as
applicable. If any of such payment or reduction is thereafter recovered from the purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.6. <U>Indemnification of the Agent Indemnitees</U></B><B>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.6.1. <U><B>INDEMNIFICATION</B></U>. EACH LENDER SHALL INDEMNIFY AND HOLD HARMLESS AGENT INDEMNITEES, TO THE EXTENT NOT REIMBURSED BY THE LOAN PARTIES (BUT
WITHOUT LIMITING THE INDEMNIFICATION OBLIGATIONS OF LOAN PARTIES UNDER ANY LOAN DOCUMENTS), ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY AGENT INDEMNITEE; PROVIDED THAT NO LENDER SHALL HAVE ANY OBLIGATION
TO INDEMNIFY OR HOLD HARMLESS THE AGENT INDEMNITEES FOR ANY CLAIM THAT IS DETERMINED IN A FINAL, <FONT STYLE="white-space:nowrap">NON-APPEALABLE</FONT> JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO RESULT FROM THE GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT OF ANY AGENT INDEMNITEE. If any Agent is sued by any receiver, trustee in bankruptcy, debtor-in-possession or other Person for any alleged preference from a Loan Party or fraudulent transfer, then any monies paid by such Agent in
settlement or satisfaction of such proceeding, together with all interest, costs and expenses (including attorneys&#146; fees) incurred in the defense of same, shall be promptly reimbursed to such Agent by the Lenders to the extent of each
Lender&#146;s Pro Rata share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.6.2. <U><B>Proceedings</B></U>. Without limiting the generality of the foregoing, if at any time (whether prior to or
after the Termination Date) any proceeding is brought against any Agent Indemnitees by a Loan Party, or any Person claiming through a Loan Party, to recover damages for any act taken or omitted by any Agent in connection with any Obligations,
Collateral, Loan Documents or matters relating thereto, or otherwise to obtain any other relief of any kind on account of any transaction relating to any Loan Documents, each Lender agrees to indemnify and hold harmless the Agent Indemnitees with
respect thereto and to pay to the Agent Indemnitees such Lender&#146;s Pro Rata share of any amount that any Agent Indemnitee is required to pay under any judgment or other order entered in such proceeding or by reason of any settlement, including
all interest, costs and expenses (including attorneys&#146; fees) incurred in defending same; <U>provided</U> <U>that</U> no Lender shall be liable for payment of any such amount to the extent that it is determined in a final, non-appealable
judgment by a court of competent jurisdiction that such judgment, order or settlement resulted from any Agent Indemnitees&#146; gross negligence or willful misconduct. In the Administrative Agent&#146;s discretion, the Administrative Agent may
reserve for any such proceeding, and may satisfy any judgment, order or settlement, from proceeds of Collateral prior to making any distributions of Collateral proceeds to the Lenders <U>provided</U> <U>that</U> it has not been determined in a
final, non-appealable judgment by a court of competent jurisdiction that such judgment, order or settlement resulted from any Agent Indemnitees&#146; gross negligence or willful misconduct. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.7. <U>Limitation on Responsibilities of the Agents</U></B><B>.</B> No Agent shall be liable to the Lenders for any action taken or omitted to be taken
under the Loan Documents, except for losses directly and solely caused by such Agent&#146;s gross negligence or willful misconduct. No Agent assumes any responsibility for any failure or delay in performance or any breach by any Loan Party or Lender
of any obligations under the Loan Documents. No Agent makes to the Lenders any express or implied warranty, representation or guarantee with respect to any Obligations, Collateral, Loan Documents or Loan Party. No Agent Indemnitee shall be
responsible to the Lenders for any recitals, statements, information, representations or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
warranties contained in any Loan Documents; the execution, validity, genuineness, effectiveness or enforceability of any Loan Documents; the genuineness, enforceability, collectibility, value,
sufficiency, location or existence of any Collateral, or the validity, extent, perfection or priority of any Lien therein; the validity, enforceability or collectibility of any Obligations; or the assets, liabilities, financial condition, results of
operations, business, creditworthiness or legal status of any Loan Party or Account Debtor. No Agent Indemnitee shall have any obligation to any Lender to ascertain or inquire into the existence of any Default or Event of Default, the observance or
performance by any Loan Party of any terms of the Loan Documents, or the satisfaction of any conditions precedent contained in any Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.8. <U>Successor Agent</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.8.1.
<U><B>Resignation; Successor Agent</B></U>. Subject to the appointment and acceptance of a successor Agent as provided below, each Agent may resign at any time by giving at least 30 days written notice thereof to the Lenders and the Borrowers. Upon
receipt of such notice, the Required Lenders shall have the right to appoint a successor Administrative Agent or Collateral Agent, as applicable, which shall be (a)&nbsp;a Lender or an Affiliate of a Lender; or (b)&nbsp;a commercial bank with an
office in the United States or Canada, as applicable, that, unless a Default or Event of Default exists, is reasonably acceptable to the Borrower Agent. If no successor agent is appointed prior to the effective date of the resignation of the
applicable Agent, then such applicable Agent may appoint a successor agent from among the Lenders. Upon acceptance by a successor Agent of an appointment to serve as Administrative Agent or Collateral Agent, as applicable, hereunder, such successor
Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Agent, without further act, and the retiring Agent shall be discharged from its duties and obligations hereunder but shall continue to have the
benefits of the indemnification set forth in <B>Sections 12.6</B> and <B>14.2</B>. Notwithstanding any Agent&#146;s resignation, the provisions of this <B>Section&nbsp;12</B> shall continue in effect for its benefit with respect to any actions taken
or omitted to be taken by it in such capacity. Any successor by merger or acquisition of the stock or assets of Crystal shall continue to be the Administrative Agent and Collateral Agent hereunder without further act on the part of the parties
hereto, unless such successor resigns as provided above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.8.2. <U><B>Separate Agent</B></U>. It is the intent of the parties that there shall be no
violation of any Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction. If the Administrative Agent believes that it may be limited in the exercise of any rights or remedies under the Loan
Documents due to any Applicable Law, the Administrative Agent may appoint an additional Person who is not so limited, as a separate collateral agent. If the Administrative Agent so appoints a collateral agent, each right and remedy intended to be
available to the Administrative Agent under the Loan Documents shall also be vested in such separate agent. Every covenant and obligation necessary to the exercise thereof by such agent shall run to and be enforceable by it as well as the
Administrative Agent. The Lenders shall execute and deliver such documents as the Administrative Agent deems appropriate to vest any rights or remedies in such agent. If any collateral agent shall die or dissolve, become incapable of acting, resign
or be removed, then all the rights and remedies of such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by the Administrative Agent until appointment of a new agent. Notwithstanding the provisions of this Agreement
or any of the other Loan Documents, the Documentation Agent shall have no powers, rights, duties, responsibilities or liabilities with respect to this Agreement and the other Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.9. <U>Due Diligence and Non-Reliance</U></B><B>.</B> Each Lender acknowledges and agrees that it has, independently and without reliance upon any Agent
or any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit analysis of each Loan Party and its own decision to enter into this Agreement and to fund its Pro Rata share of the Term
Loan. Each Lender has made such inquiries concerning the Loan Documents, the Collateral and each </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


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Loan Party as such Lender feels necessary. Each Lender further acknowledges and agrees that the other Lenders and the Agents have made no representations or warranties concerning any Loan Party,
any Collateral or the legality, validity, sufficiency or enforceability of any Loan Documents or Obligations. Each Lender will, independently and without reliance upon the other Lenders or the Agents, and based upon such financial statements,
documents and information as it deems appropriate at the time, continue to make and rely upon its own credit decisions in making its Pro Rata share of the Term Loan and in taking or refraining from any action under any Loan Documents. Except for
notices, reports and other information expressly requested by a Lender, no Agent shall have any duty or responsibility to provide any Lender with any notices, reports or certificates furnished to any Agent by any Loan Party or any credit or other
information concerning the affairs, financial condition, business or Properties of any Loan Party (or any of its Affiliates) which may come into possession of any Agent or any of such Agent&#146;s Affiliates or branches. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.10. <U>Replacement of Certain Lenders</U></B><B>.</B> In the event that any Lender (a)&nbsp;fails to fund its Pro Rata share of the Term Loan, and such
failure is not cured within two Business Days, (b)&nbsp;defaults in performing any of its obligations under the Loan Documents, or (c)&nbsp;fails to give its consent to any amendment, waiver or action for which consent of all Lenders was required
and the Required Lenders consented, then, in addition to any other rights and remedies that any Person may have, the Administrative Agent may, by notice to such Lender within 120 days after such event, require such Lender to assign all of its rights
and obligations under the Loan Documents to Eligible Assignee(s) specified by the Administrative Agent, pursuant to appropriate Assignment and Assumption Agreement(s) and within 20 days after the Administrative Agent&#146;s notice. The
Administrative Agent is irrevocably appointed as attorney-in-fact to execute any such Assignment and Assumption Agreement if the Lender fails to execute same. Such Lender shall be entitled to receive, in cash, concurrently with such assignment, all
amounts owed to it under the Loan Documents, including all principal, interest and fees through the date of assignment (but excluding any Early Termination Fee or other prepayment charge). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.11. <U>Remittance of Payments and Collections</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.11.1. <U><B>Remittances Generally</B></U>. All payments by any Lender to the Administrative Agent shall be made by the time and on the day set forth in
this Agreement, in immediately available funds. If no time for payment is specified or if payment is due on demand by the Administrative Agent and request for payment is made by the Administrative Agent by 11:00 a.m. on a Business Day, payment shall
be made by the Lender not later than 2:00 p.m. on such day, and if request is made after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by the Administrative Agent to any Lender shall be made by wire transfer,
in the type of funds received by the Administrative Agent. Any such payment shall be subject to the Administrative Agent&#146;s right of offset for any amounts due from such Lender under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.11.2. <U><B>Failure to Pay</B></U>. If any Lender fails to pay any amount when due by it to the Administrative Agent pursuant to the terms hereof, such
amount shall bear interest from the due date until paid at the rate determined by the Administrative Agent as customary in the banking industry for interbank compensation. In no event shall the Borrowers be entitled to receive credit for any
interest paid by a Lender to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.11.3. <U><B>Recovery of Payments</B></U>. If the Administrative Agent pays any amount to a
Lender in the expectation that a related payment will be received by the Administrative Agent from a Loan Party and such related payment is not received, then the Administrative Agent may recover such amount from each Lender that received it. If the
Administrative Agent determines at any time that an amount received under any Loan Document must be returned to a Loan Party or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan
Document, the Administrative Agent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


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shall not be required to distribute such amount to any Lender. If any amounts received and applied by the Administrative Agent to any Obligations are later required to be returned by the Agent
pursuant to the Applicable Law, the Lenders shall pay to the Administrative Agent, on demand, such Lender&#146;s Pro Rata share of the amounts required to be returned. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.12. <U>Crystal in its Individual Capacity</U></B><B>.</B> As Lenders, Crystal and its Affiliates shall have the same rights and remedies under the other
Loan Documents as any other Lender, and the terms &#147;Lenders,&#148; &#147;Required Lenders,&#148; or any similar term shall include Crystal and its Affiliates in their capacity as Lenders. Each of Crystal and its Affiliates may accept deposits
from, maintain deposits or credit balances for, invest in, lend money to, act as trustee under indentures of, serve as financial or other advisor to, and generally engage in any kind of business with, the Loan Parties and their Affiliates, as if
Crystal and such Affiliates were any other bank, without any duty to account therefor (including any fees or other consideration received in connection therewith) to the other Lenders. In its individual capacity, each of Crystal and its Affiliates
may receive information regarding the Loan Parties, their Affiliates and their Account Debtors (including information subject to confidentiality obligations), and each Lender agrees that each of Crystal and its Affiliates shall be under no
obligation to provide such information to the Lenders, if acquired in such individual capacity and not as Administrative Agent hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.13.
<U>Agent Titles</U></B>. Each Lender (if any), other than Crystal, that is designated (on the cover page of this Agreement or otherwise) by Crystal as an &#147;Agent&#148; of any type shall not have any right, power, responsibility or duty under any
Loan Documents other than those applicable to all Lenders or otherwise expressly set forth herein, and shall in no event be deemed to have any fiduciary relationship with any other Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.14. <U>No Third Party Beneficiaries</U></B><B>.</B> This <B>Section&nbsp;12</B> is an agreement solely among Lenders and the Administrative Agent, and
does not confer any rights or benefits upon the Loan Parties or any other Person. As between the Loan Parties and the Administrative Agent, any action that the Administrative Agent may take under any Loan Documents shall be conclusively presumed to
have been authorized and directed by the Lenders as herein provided. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.15. <U>Loan Documents; Intercreditor Agreement</U></B><B>.</B> Each Lender
that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless
the Administrative Agent shall have received notice from such Lender prior to the proposed Third Amendment Effective Date specifying its objection thereto. Without limiting the generality of the foregoing, the Lenders hereby irrevocably authorize
the Administrative Agent to enter into the Intercreditor Agreement and agree to be bound by the provisions thereof. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;13.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.1. <U>Successors and Assigns
Generally</U></B>. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (a)&nbsp;to an Eligible Assignee in
accordance with the provisions of <B>Section&nbsp;13.2</B>, (b)&nbsp;by way of participation in accordance with the provisions of <B>Sections 13.5 and 13.6</B>, or (iii)&nbsp;by way of pledge or assignment of a security interest subject to the
restrictions of <B>Section&nbsp;13.7</B> (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in <B>Sections 13.5</B> and <B>13.6</B> and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents and the
Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.2. <U>Assignments by Lenders</U></B>. Subject to <B>Section&nbsp;13.3</B>, any Lender may at any time
assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Pro Rata share of the Term Loan at the time owing to it); <U>provided</U> that </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) except in the case of an assignment of the entire remaining amount of the assigning Lender&#146;s Pro Rata share of the Term Loan at the time owing to it
or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the principal outstanding balance of the assigning Lender&#146;s Pro Rata share of the Term Loan subject to each such assignment,
determined as of the date set forth in the Assignment and Assumption Agreement with respect to such assignment is delivered to the Administrative Agent or, if &#147;Trade Date&#148; is specified in the Assignment and Assumption Agreement, as of the
Trade Date, shall not be less than the Dollar Equivalent of $2,500,000 unless the Administrative Agent otherwise consents (each such consent not to be unreasonably withheld or delayed); <U>provided</U>, <U>however</U>, that concurrent assignments to
members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining
whether such minimum amount has been met; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender&#146;s rights and obligations under this Agreement with respect to the portion of the Term Loan assigned (it being understood that non-pro rata assignments of such portion of the Term Loan are not permitted); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) any assignment of portion of the Term Loan must be approved by the Administrative Agent unless the Person that is the proposed assignee is itself a Lender
(whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) the parties to each assignment shall execute and deliver
to the Administrative Agent an Assignment and Assumption Agreement, together with a processing and recordation fee in the amount of $3,500, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an
administrative questionnaire in the Administrative Agent&#146;s customary form; <U>provided</U> that if such Eligible Assignee is an Approved Fund of a Lender, no processing and recordation fee shall be required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From and after the effective date specified in each Assignment and Assumption Agreement, the Eligible Assignee thereunder shall be a party to this Agreement
and, to the extent of the interest assigned by such Assignment and Assumption Agreement, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption Agreement covering all of the assigning Lender&#146;s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of <B>Sections 3.4, 3.7, 5.8, 5.9</B> and <B>14.2</B> with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon
request, the applicable Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be
treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <B>Sections 13.5</B> and <B>13.6</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.3. <U>[Reserved.]</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.4. <U>Register</U></B>. The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at the Administrative
Agent&#146;s office a copy of each Assignment and Assumption Agreement delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Lenders&#146; Pro Rata shares of the Term Loan owing to, each Lender
pursuant to the terms hereof from time to time (the &#147;Register&#148;). The entries in the Register shall be conclusive, and the Borrowers, the Agents and the Lenders may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by each of the Borrowers at any reasonable time and from time to time upon reasonable prior
notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any Lender may request and receive from the Administrative Agent a copy of the Register. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.5. <U>Participations</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Any Lender may at any
time, without the consent of, or notice to, the Borrowers or sell participations to any Person (other than a natural person or any Borrower or any of the Borrower&#146;s Affiliates or Subsidiaries) (each, a &#147;<U>Participant</U>&#148;) in all or
a portion of such Lender&#146;s rights and/or obligations under this Agreement (including all or a portion of a Lender&#146;s Pro Rata share of the Term Loan owing to it); <U>provided</U> that (i)&nbsp;each such participation shall be in an amount
of not less than the Dollar Equivalent of $2,500,000, (ii)&nbsp;such Lender&#146;s obligations under this Agreement shall remain unchanged, (iii)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (iv)&nbsp;the Borrowers, the Agents and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender&#146;s rights and obligations under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce
this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <U>provided</U> that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any
amendment, waiver or other modification that would reduce the principal of or the interest rate on any portion of the Term Loan, extend the term or increase such Lender&#146;s Pro Rata share of the Term Loan as it relates to such Participant, or
extend any regularly scheduled payment date for principal or interest. Subject to <B>Section&nbsp;13.6</B>, the Loan Parties agree that each Participant shall be entitled to the benefits of <B>Sections 5.8</B> and <B>5.9</B> to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to <B>Section&nbsp;13.2</B>. To the extent permitted by Applicable Law, each Participant also shall be entitled to the benefits of <B>Section&nbsp;11.4</B> as though it were a
Lender, provided such Participant agrees to be subject to <B>Section&nbsp;12.5</B> as though it were a Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.6. <U>Limitations upon Participant
Rights</U></B>. A Participant shall not be entitled to receive any greater payment under <B>Section&nbsp;5.8</B> or <B>5.9</B> than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant,
unless the sale of the participation to such Participant is made with the Borrowers&#146; prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of <B>Section&nbsp;5.9</B> unless
the US Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with <B>Section&nbsp;5.9</B> as though it were a Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.7. <U>Certain Pledges</U></B>. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
(including under its Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <U>provided</U> that no such pledge or assignment shall release such Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.8. <U>Electronic Execution of Assignments</U></B>. The words &#147;execution,&#148; &#147;signed,&#148;
&#147;signature,&#148; and words of like import in any Assignment and Assumption Agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.9. <U>Tax Treatment</U></B><B>.</B> If any interest in a Loan Document is transferred to a Transferee that is organized under the laws of any
jurisdiction other than the United States or any state or district thereof, the transferor Lender shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of <B>Section 5.9</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.10. <U>Representation of the Lenders</U></B><B>.</B> Each Lender represents and warrants to each Borrower, each Agent and other Lenders that none of the
consideration used by it to fund its Pro Rata share of the Term Loan or to participate in any other transactions under this Agreement constitutes for any purpose of ERISA or Section&nbsp;4975 of the Code assets of any &#147;plan&#148; as defined in
Section&nbsp;3(3) of ERISA or Section&nbsp;4975 of the Code and the interests of such Lender in and under the Loan Documents shall not constitute plan assets under ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.11. <U>Assignment by the Loan Parties</U></B><B>.</B> The Loan Parties shall not assign or transfer any of their rights or obligations under any of the
Loan Documents without the prior written consent of the Administrative Agent and each of the Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.12. <U>Participant Register.</U></B> Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant&#146;s interest in the Loans or other obligations under the Loan Documents (the &#147;<U>Participant Register</U>&#148;); <U>provided</U> that no Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant&#146;s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such
disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section&nbsp;5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the
avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="15%" VALIGN="top" ALIGN="left"><B>SECTION&nbsp;14.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>MISCELLANEOUS </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.1. <U>Consents, Amendments and Waivers</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.1.1. <U><B>Amendment</B></U>. No modification of any Loan Document, including any extension or amendment of a Loan Document or any waiver of a Default or
Event of Default, shall be effective without the prior written agreement of the Administrative Agent, with the consent of the Required Lenders, and each Loan Party party to such Loan Document; provided, however, that </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) without the prior written consent of the Administrative Agent, no modification shall be effective with
respect to any provision in a Loan Document that relates to any rights, duties or discretion of the Administrative Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <B>[Reserved]</B>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) without the prior written consent of each affected Lender, no modification shall be effective that would (i)&nbsp;increase such Lender&#146;s Pro Rata
share of the Term Loan; (ii)&nbsp;reduce the amount of, or waive, postpone or delay payment of, any principal, interest, fees or other amounts payable to such Lender (it being understood that only the consent of the Required Lenders shall be
necessary to amend the definition of &#147;Default Rate&#148; or waive any obligation of the Borrowers to pay interest at the Default Rate); (iii)&nbsp;amend the definition of Term Loan Borrowing Capacity (and the defined terms used, directly or
indirectly, in such definition) or Pro Rata; or (iv)&nbsp;increase any advance rate (<I>it being understood, however</I>, that clauses (iii)&nbsp;and (iv)&nbsp;above shall not (x)&nbsp;limit the adjustment by the Administrative Agent of the
Availability Reserve in the Administrative Agent&#146;s administration of the Term Loan as otherwise permitted by this Agreement or (y)&nbsp;prevent the Administrative Agent, in its administration of the Term Loan, from restoring any component of
the Term Loan Borrowing Capacity which had been lowered by the Administrative Agent back to the value of such component, as stated in this Agreement or to an intermediate value); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) no modification shall be effective that would change any provision of this <B>Section&nbsp;14.1</B> or the definition of &#147;Required Lenders&#148;
without the written consent of each Lender; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) without the prior written consent of all Lenders (except a Defaulting Lender), no modification shall
be effective that would (i)&nbsp;extend the Maturity Date; (ii)&nbsp;alter <B>Section&nbsp;5.5</B> or <B>Section&nbsp;7</B>; (iii)&nbsp;release all or substantially all of the Collateral (excluding, if any Loan Party or any Subsidiary of any Loan
Party becomes a debtor under the federal Bankruptcy Code, the release of &#147;cash collateral&#148;, as defined in Section&nbsp;363(a) of the federal Bankruptcy Code pursuant to a cash collateral stipulation with the debtor approved by the Required
Lenders), (iv)&nbsp;modify or amend the Montrovest LC; or (v)&nbsp;release all or substantially all of the value of the Guaranties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) If any amendment
or modification to the Revolving Loan Documents after the Third Amendment Effective Date amends or modifies any representation and warranty, covenant (including any financial covenant) or event of default contained in the Revolving Loan Documents
(or any related definitions), in each case, in a manner that is more restrictive than the applicable provisions permit as of the date thereof, or if any amendment or modification to the Revolving Loan Documents adds an additional representation and
warranty, covenant or event of default therein, the Borrowers agree to amend this Agreement or the other Loan Documents to affect similar amendments or modifications with respect to this Agreement and/or such other Loan Documents (preserving any
cushions that may exist with respect to financial covenants or any such applicable basket). To the extent the Borrowers don&#146;t promptly execute and deliver an amendment hereto to give effect to the foregoing, the Borrowers shall permit the Agent
and Lenders to document each such similar amendment or modification to this Agreement or such other Loan Documents or insert a corresponding new representation and warranty, covenant or event of default in this Agreement or such other Loan Documents
without any need for any further action or consent by the Borrowers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) <U><B>Limitations</B></U>. The agreement of the Loan Parties shall not be
necessary to the effectiveness of any modification of a Loan Document that deals solely with the rights and duties of the Lenders and/or the Agents as among themselves. Any waiver or consent granted by the Lenders hereunder shall be effective only
if in writing, and then only in the specific instance and for the specific purpose for which it is given. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.1.2. <U><B>Payment for Consents</B></U>. No Loan Party will, directly or indirectly, pay any remuneration or
other thing of value, whether by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration
or value is concurrently paid, on the same terms, on a Pro Rata basis to all Lenders providing their consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.1.3. <U><B>Generally</B></U>.
Notwithstanding anything to the contrary herein, (i)&nbsp;no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended
without the consent of such Lender and (ii)&nbsp;no Participant shall have any right to approve or disapprove any amendment, waiver or consent hereunder or shall be entitled to vote on matters relating to the Loan Documents (including during any
Insolvency Proceeding of any Loan Party) and shall not be deemed to be a &#147;Lender&#148; for any such purpose, except that the Commitment of such Person may not be increased or extended without the consent of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.2. <U>Indemnity</U></B>. <B>EACH LOAN PARTY SHALL INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES,
CLAIMS, DAMAGES, PENALTIES, JUDGMENTS, PROCEEDINGS, COSTS AND EXPENSES OF ANY KIND (INCLUDING REMEDIAL RESPONSE COSTS, REASONABLE ATTORNEYS&#146; FEES AND EXTRAORDINARY EXPENSES) AT ANY TIME (INCLUDING AFTER FULL PAYMENT OF THE OBLIGATIONS,
RESIGNATION OR REPLACEMENT OF ANY AGENT, OR REPLACEMENT OF ANY LENDER) INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE IN ANY WAY RELATING TO (A)&nbsp;ANY LOAN DOCUMENTS OR TRANSACTIONS RELATING THERETO, (B)&nbsp;ANY ACTION TAKEN OR OMITTED TO BE
TAKEN BY ANY INDEMNITEE IN CONNECTION WITH ANY LOAN DOCUMENTS, (C)&nbsp;THE EXISTENCE OR PERFECTION OF ANY LIENS, OR REALIZATION UPON ANY COLLATERAL, (D)&nbsp;EXERCISE OF ANY RIGHTS OR REMEDIES UNDER ANY LOAN DOCUMENTS OR APPLICABLE LAW,
(E)&nbsp;FAILURE BY ANY LOAN PARTY TO PERFORM OR OBSERVE ANY TERMS OF ANY LOAN DOCUMENT, IN EACH CASE INCLUDING ALL COSTS AND EXPENSES RELATING TO ANY INVESTIGATION, LITIGATION, ARBITRATION OR OTHER PROCEEDING (INCLUDING AN INSOLVENCY PROCEEDING OR
APPELLATE PROCEEDINGS), WHETHER OR NOT THE APPLICABLE INDEMNITEE IS A PARTY THERETO, (F)&nbsp;THE TERM LOAN OR THE USE OR PROPOSED USE OF THE PROCEEDS THEREFROM, (G)&nbsp;ANY ACTUAL OR ALLEGED ENVIRONMENTAL RELEASE ON OR FROM ANY PROPERTY OWNED OR
OPERATED BY ANY BORROWER OR ANY OF ITS SUBSIDIARIES, OR ANY LIABILITY IN CONNECTION WITH ANY ACTUAL OR ALLEGED VIOLATION OF ANY ENVIRONMENTAL LAW RELATED IN ANY WAY TO ANY LOAN PARTY OR ANY OF ITS SUBSIDIARIES, OR (H)&nbsp;ANY ACTUAL OR PROSPECTIVE
CLAIM, LITIGATION, INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY, WHETHER BROUGHT BY A THIRD PARTY OR BY A BORROWER OR ANY OTHER LOAN PARTY (HEREINAFTER, &#147;CLAIMS&#148;) THAT
MAY BE INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE, INCLUDING CLAIMS ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE.</B> In no event shall any party to a Loan Document have any obligation thereunder to indemnify or hold harmless an Indemnitee with
respect to a Claim that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct of such Indemnitee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.3. <U>Notices and Communications</U>.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.3.1. <U><B>Notice Address</B></U>. All notices, requests and other communications by or to a party hereto shall be in writing and shall be given to any
Loan Party, at the Borrower Agent&#146;s address shown on the signature pages hereof, and to any other Person at its address shown on the signature pages hereof (or, in the case of a Person who becomes a Lender after the Third Amendment Effective
Date, at the address shown on its Assignment and Assumption Agreement), or at such other address as a party may hereafter specify by notice in accordance with this <B>Section&nbsp;14.3</B>. Each such notice, request or other communication shall be
effective only (a)&nbsp;if given by facsimile transmission, when transmitted to the applicable facsimile number, if confirmation of receipt is received; (b)&nbsp;if given by mail, three Business Days after deposit in the mail, with first-class
postage pre-paid, addressed to the applicable address; or (c)&nbsp;if given by personal delivery, when duly delivered to the notice address with receipt acknowledged. Any written notice, request or other communication that is not sent in conformity
with the foregoing provisions shall nevertheless be effective on the date actually received by the noticed party. Any notice received by the Borrower Agent shall be deemed received by all Loan Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.3.2. <U><B>Electronic Communications; Voice Mail</B></U>. Electronic mail and internet websites may be used only for routine communications, such as
financial statements, Borrowing Base Certificates and other information required by <B>Section&nbsp;10.1.2</B>, administrative matters, and distribution of Loan Documents for execution. The Agents and the Lenders make no assurances as to the privacy
and security of electronic communications. Electronic and voice mail may not be used as effective notice under the Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.3.3.
<U><B>Non-Conforming Communications</B></U>. The Agents and the Lenders may rely upon any notices purportedly given by or on behalf of any Borrower even if such notices were not made in a manner specified herein, were incomplete or were not
confirmed, or if the terms thereof, as understood by the recipient, varied from a later confirmation. Each Borrower shall indemnify and hold harmless each Indemnitee from any liabilities, losses, costs and expenses arising from any telephonic
communication purportedly given by or on behalf of a Borrower. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.4. <U>Performance of the Borrowers&#146; Obligations</U></B><B>.</B> The
Administrative Agent may, in its discretion at any time and from time to time after the occurrence, and during the continuance, of an Event of Default, at the Borrowers&#146; expense, pay any amount or do any act required of a Borrower under any
Loan Documents or otherwise lawfully requested by the Administrative Agent to (a)&nbsp;enforce any Loan Documents or collect any Obligations; (b)&nbsp;protect, insure, maintain or realize upon any Collateral; or (c)&nbsp;defend or maintain the
validity or priority of the Administrative Agent&#146;s Liens in any Collateral, including any payment of a judgment, insurance premium, warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments,
costs and expenses (including Extraordinary Expenses) of the Administrative Agent under this <B>Section&nbsp;14.4</B> shall be reimbursed to the Administrative Agent by the Borrowers, <B>on demand</B>, with interest from the date incurred to the
date of payment thereof at the Default Rate applicable to the Term Loan. Any payment made or action taken by the Administrative Agent under this <B>Section&nbsp;14.4</B> shall be without prejudice to any right to assert an Event of Default or to
exercise any other rights or remedies under the Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.5. <U>Credit Inquiries</U></B><B>.</B> Each Loan Party hereby authorizes the Agents
and the Lenders (but they shall have no obligation) to respond to usual and customary credit inquiries from third parties concerning any Loan Party or any Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.6. <U>Severability</U></B><B>.</B> Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under
Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of the Loan Documents shall remain in full force and effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.7. <U>Cumulative Effect; Conflict of Terms</U></B><B>.</B> The provisions of the Loan Documents are
cumulative. The parties acknowledge that the Loan Documents may use several different limitations, tests or measurements to regulate the same or similar matters, and they agree that these are cumulative and that each must be performed as provided.
Except as otherwise specifically provided in another Loan Document (by specific reference to the applicable provision of this Agreement), if any provision contained herein is in direct conflict with any provision in another Loan Document, the
provision herein shall govern and control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.8. <U>Counterparts; Facsimile and Electronic Signatures</U></B><B>.</B> Any Loan Document may be
executed in counterparts, each of which taken together shall constitute one instrument. Loan Documents may be executed and delivered by facsimile or electronic communication, and they shall have the same force and effect as manually signed
originals. The Administrative Agent may require confirmation by a <FONT STYLE="white-space:nowrap">manually-signed</FONT> original, but failure to request or deliver same shall not limit the effectiveness of any such facsimile signature or signature
received by electronic communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.9. <U>Entire Agreement</U></B><B>.</B> Time is of the essence of the Loan Documents. The Loan Documents
embody the entire understanding of the parties with respect to the subject matter thereof and supersede all prior understandings regarding the same subject matter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.10. <U>Obligations of the Lenders</U></B><B>.</B> The obligations of each Lender hereunder are several, and no Lender shall be responsible for any other
Lender&#146;s obligations or Pro Rata share of the Term Loan. Amounts payable hereunder to each Lender shall be a separate and independent debt, and each Lender shall be entitled, to the extent not otherwise restricted hereunder, to protect and
enforce its rights arising out of the Loan Documents. It shall not be necessary for any Agent or any Lender to be joined as an additional party in any proceeding for such purposes. Nothing in this Agreement and no action of any Agent or any Lender
pursuant to the Loan Documents shall be deemed to constitute the Agents and the Lenders to be a partnership, association, joint venture or any other kind of entity, nor to constitute control of any Loan Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.11. <U>Confidentiality; Press Releases</U>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.11.1.
<U><B>Confidentiality</B></U>. The Lenders agree to maintain the confidentiality of any information that the Loan Parties deliver to the Agents and the Lenders, except that any Agent and any Lender may disclose such information (a)&nbsp;to their
respective officers, directors, employees, Affiliates, branches and agents, including legal counsel, auditors and other professional advisors; (b)&nbsp;to any party to the Loan Documents from time to time (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential); (c)&nbsp;pursuant to the order of any court or administrative agency; (d)&nbsp;upon the request of
any Governmental Authority exercising regulatory authority over such Agent or such Lender; (e)&nbsp;which ceases to be confidential, other than by an act or omission of any Agent or any Lender, or which becomes available to any Agent or any Lender
on a nonconfidential basis; (f)&nbsp;to the extent reasonably required in connection with any litigation relating to any Loan Documents or transactions contemplated thereby, or otherwise as required by Applicable Law; (g)&nbsp;to the extent
reasonably required for the exercise of any rights or remedies under the Loan Documents; (h)&nbsp;to any Transferee, as long as such Person agrees to be bound by the provisions of this <B>Section&nbsp;14.11.1</B>; (i)&nbsp;to the National
Association of Insurance Commissioners or any similar organization, or to any nationally recognized rating agency that requires access to information about a Lender&#146;s portfolio in connection with ratings issued with respect to such Lender;
(j)&nbsp;to any investor or potential investor in an Approved Fund that is a Lender or Transferee, but solely for use by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
such investor to evaluate an investment in such Approved Fund, or to any manager, servicer or other Person in connection with its administration of any such Approved Fund (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential); or (k)&nbsp;with the consent of the Borrower Agent. Notwithstanding the
foregoing, the Agents and the Lenders may issue and disseminate to the public general information describing this credit facility, including the names and addresses of the Loan Parties and a general description of the Loan Parties&#146; businesses,
and may (so long as the Borrower Agent has previously reviewed and approved the form of such advertisement or promotional materials) use the Loan Parties&#146; names in advertising and other promotional materials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.11.2. <U><B>Press Releases</B></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Each Secured Party
executing this Agreement agrees that neither it nor its Affiliates will in the future issue any press releases or other public disclosure using the name of any Agent or its Affiliates or referring to this Agreement or the other Loan Documents
without at least two (2)&nbsp;Business Days&#146; prior notice to the Agents and without the prior written consent of the Agents (which consent shall not be unreasonably withheld) unless (and only to the extent that) such Secured Party or Affiliate
is required to do so under Applicable Law (including Securities and Exchange Commission regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Each Loan Party consents to the publication by
any Agent or any Lender of advertising material relating to the financing transactions contemplated by this Agreement using any Loan Party&#146;s name, product photographs, logo or trademark. Such Agent or such Lender shall provide a draft
reasonably in advance of any advertising material to Borrower Agent for review and approval (which approval shall not be unreasonably withheld) prior to the publication thereof. Each Agent reserves the right to provide to industry trade
organizations information necessary and customary for inclusion in league table measurements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.12. <U>GOVERNING LAW</U></B>. THIS AGREEMENT AND THE
OTHER LOAN DOCUMENTS, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW (OTHER THAN THE NEW YORK GENERAL OBLIGATIONS LAW
&#167;&#167;5-1401 AND 5-1402)). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.13. <U>Consent to Forum.</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EACH LOAN PARTY PARTY HERETO HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL COURT SITTING IN OR WITH JURISDICTION OVER THE
SOUTHERN DISTRICT OF NEW YORK AND OF ANY STATE COURT OF THE STATE OF NEW YORK SITTING IN THE COUNTY OF MANHATTAN, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT
SOLELY IN ANY SUCH COURT. EACH LOAN PARTY PARTY HERETO IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT&#146;S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. Nothing herein shall
limit the right of any Agent or any Lender to bring proceedings against any Loan Party in any other court. Nothing in this Agreement shall be deemed to preclude enforcement by the Administrative Agent of any judgment or order obtained in any forum
or jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.14. <U>Waivers by the Loan Parties</U></B>. To the fullest extent permitted by Applicable Law, each Loan Party party hereto waives
(a)&nbsp;the right to trial by jury (which each Agent and each Lender hereby also waives) in any proceeding, claim or counterclaim of any kind relating in any way to any Loan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Documents, Obligations or Collateral; (b)&nbsp;presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any
commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by (i)&nbsp;the Control Agent, for the benefit of the Administrative Agent and the other Secured Parties, or (ii)&nbsp;the
Administrative Agent or any other Secured Party, in each case on which a Borrower or such Loan Party may in any way be liable, and hereby ratifies anything the Control Agent, the Administrative Agent or such other Secured Party may do in this
regard; (c)&nbsp;notice prior to taking possession or control of any Collateral; (d)&nbsp;any bond or security that might be required by a court prior to allowing the Administrative Agent to exercise any rights or remedies; (e)&nbsp;the benefit of
all valuation, appraisement and exemption laws; (f)&nbsp;any claim against any Agent or any Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way
relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g)&nbsp;notice of acceptance hereof. Each Loan Party hereto acknowledges that the foregoing waivers are a material inducement to the Agents and
the Lenders entering into this Agreement and that the Agents and the Lenders are relying upon the foregoing in their dealings with the Borrowers and the other the Loan Parties. Each Loan Party has reviewed the foregoing waivers with its legal
counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.15. <U>Patriot Act Notice</U></B>. The Agents and the Lenders hereby notify the Borrowers and the other Loan Parties that pursuant to the requirements
of the Patriot Act, the Agents and the Lenders are required to obtain, verify and record information that identifies each Loan Party, including its legal name, address, tax ID number and other information that will allow the Agents and the Lenders
to identify it in accordance with the Patriot Act. The Agents and the Lenders will also require information regarding each personal guarantor, if any, and may require information regarding the Loan Parties&#146; management and owners, such as legal
name, address, social security number and date of birth. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.16. <U>Survival of Representations and Warranties</U>.</B> All representations and
warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties
have been or will be relied upon by each Agent and each Lender, regardless of any investigation made by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default or
Event of Default at the time of any credit extension, and shall continue in full force and effect until Full Payment of the Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.17. <U>No
Advisory or Fiduciary Responsibility</U></B>. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Loan
Parties acknowledges and agrees, and acknowledges its Affiliates&#146; understanding, that: (i)&nbsp;(A)&nbsp;the services regarding this Agreement provided by the Agents and the Lenders are arm&#146;s-length commercial transactions between the Loan
Parties and their respective Affiliates, on the one hand, and the Agents and the Lenders, on the other hand, (B)&nbsp;each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (C)&nbsp;each of the Loan Parties is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii)&nbsp;(A) each of the Agents and
each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Loan Parties or any of their
respective Affiliates, or any other Person and (B)&nbsp;no Agent or Lender has any obligation to the Loan Parties or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth
herein and in the other Loan Documents; and (iii)&nbsp;the Agents, the Lenders and their respective Affiliates and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


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branches may be engaged in a broad range of transactions that involve interests that differ from those of the Loan Parties and their respective Affiliates, and no Agent or Lender or any of their
respective Affiliates or branches has any obligation to disclose any of such interests to the Loan Parties or any of their respective Affiliates. To the fullest extent permitted by law, except in connection with the gross negligence and willful
misconduct of the Agents, the Lenders or their respective Affiliates or branches, each of the Loan Parties hereby waives and releases any claims that it may have against the Agents or the Lenders with respect to any breach or alleged breach of
agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. Each Loan Party acknowledges and agrees that in connection with all aspects of any transaction contemplated by the Loan Documents, Loan Parties, the
Agents and Lenders have an arm&#146;s-length business relationship that creates no fiduciary duty on the part of any Agent or any Lender, and each Loan Party, each Agent and each Lender expressly disclaims any fiduciary relationship. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.18. <U>Intercreditor Agreement</U>.</B> The parties hereto acknowledge that the exercise of certain of the Administrative Agent&#146;s rights and
remedies hereunder may be subject to, and restricted by, the provisions of the Intercreditor Agreement regarding intercreditor arrangements among the Administrative Agent, the Revolving Agent and the Canadian Revolving Agent. Notwithstanding the
foregoing, each Loan Party expressly acknowledges and agrees that the Intercreditor Agreement is solely for the benefit of the parties thereto, and that notwithstanding the fact that the exercise of certain of the Administrative Agent&#146;s and
Lenders&#146; rights under the Loan Documents may be subject to the Intercreditor Agreement, no action taken or not taken by the Administrative Agent or any Lender in accordance with the terms of the Intercreditor Agreement shall constitute, or be
deemed to constitute, a waiver by the Administrative Agent or any Lender of any rights such Person has with respect to any Loan Party under any Loan Document and except as specified therein, nothing contained in the Intercreditor Agreement shall be
deemed to modify any of the provisions of this Agreement and the other Loan Documents, which, as among the Loan Parties, the Administrative Agent and the Lenders, shall remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.19. <U>Language</U>.</B> The parties have requested that this Agreement and the other documents contemplated hereby or relating hereto be drawn up in
the English language. <I>Les parties ont requis que cette convention ainsi que tous les documents qui y sont envisag&eacute;s ou qui s&#146;y rapportent soient r&eacute;dig&eacute;s en langue anglaise.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.20. <U>Second Amended and Restated Loan Agreement and Loan Documents</U>.</B> Each of the Loan Parties hereby ratifies and confirms all of its
Obligations to the Administrative Agent and the other Secured Parties under the Second Amended and Restated Loan Agreement, as amended hereby, and the other Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the
extent applicable, the Initial Loan Agreement), as amended hereby, including, without limitation, the Loans, and each of the Loan Parties hereby affirms its absolute and unconditional promise to pay to the Administrative Agent and the other Secured
Parties, as applicable, the Loans, reimbursement obligations and all other amounts due or to become due and payable to the Lenders, the Administrative Agent and the other Secured Parties, as applicable, under the Second Amended and Restated Loan
Agreement and the other Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement), as amended hereby, and it is the intent of the parties hereto that nothing contained
herein shall constitute a novation or accord and satisfaction. Any and all Security Documents that have been delivered to the Collateral Agent in connection with such Second Amended and Restated Loan Agreement and, to the extent applicable, the
Initial Loan Agreement and which is set forth as Security Document in this Agreement shall remain in full force and effect, is expressly reserved by the Collateral Agent and, unless expressly indicated otherwise, shall apply in respect of all
Obligations. The Collateral Agent expressly reserves all Liens created under the Security Documents and granted to the Collateral Agent by the Loan Parties to secure the Obligations. The parties hereto acknowledge and agree that (i)&nbsp;each
reference to the Initial Loan Agreement, the 2011 Loan Agreement </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or the Second Amended and Restated Loan Agreement, however so defined, in the Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the
Initial Loan Agreement) from and after the date hereof shall mean the Initial Loan Agreement, the 2011 Loan Agreement or the Second Amended and Restated Loan Agreement as amended and restated pursuant to this Agreement, and (ii)&nbsp;each of the
Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement) is hereby amended by (a)&nbsp;substituting a reference to this Agreement as herein defined in place of each
reference to the Initial Loan Agreement, the 2011 Loan Agreement or the Second Amended and Restated Loan Agreement (whether referred to by the full name of the Initial Loan Agreement, the 2011 Loan Agreement or the Second Amended and Restated Loan
Agreement or by any other name which refers thereto by definition), and (b)&nbsp;substituting for the definition of each capitalized term defined by reference to the Initial Loan Agreement, the 2011 Loan Agreement or the Second Amended and Restated
Loan Agreement the definition of such capitalized term set forth in this Agreement, including without limitation the definition of the term &#147;<U>Obligations</U>&#148;. Each of the parties hereto agrees that each Loan Document (as defined in the
Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement), as amended hereby, to which such party is a party shall remain in full force and effect. Each of the parties listed as signatories hereto
(i)&nbsp;ratifies and reaffirms the continued validity of, and all of the terms and conditions of, and all of the warranties and representations set forth in, each such Loan Document (as defined in the Second Amended and Restated Loan Agreement and,
to the extent applicable, the Initial Loan Agreement), as amended hereby, to which it is a party and agrees and confirms that the Obligations are secured under and in accordance with the Loan Documents (as defined in the Second Amended and Restated
Loan Agreement and, to the extent applicable, the Initial Loan Agreement), as amended hereby, to which such party is a party. Each of the Loan Parties hereby acknowledges, confirms and agrees that (i)&nbsp;the Liens, hypothecs, pledges and security
interests granted pursuant to the Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement), as amended hereby, are and continue to be valid, perfected and enforceable
liens, hypothecs, pledges and security interests (subject only to (A)&nbsp;the first priority security interest and Lien in favor of the Revolving Agent or the Canadian Revolving Agent, as applicable, and (B)&nbsp;Permitted Liens entitled to
priority under Applicable Law) that secure all of the Obligations on and after the date hereof. All references in each of the Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial
Loan Agreement) or any related agreement or instrument, as amended hereby, to the Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement) hereafter refer to each of the
Loan Documents (as defined in the Second Amended and Restated Loan Agreement and, to the extent applicable, the Initial Loan Agreement), as amended hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>14.21. <U>Transitional Arrangements</U></B>. Upon the effectiveness of this Agreement, this Agreement shall supersede the Second Amended and Restated Loan
Agreement in its entirety, except as otherwise provided in this <B>Section&nbsp;14.21</B>. This Agreement constitutes an amendment and restatement of the Second Amended and Restated Loan Agreement effective from and after the Third Amendment
Effective Date. The execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other obligations owing to the Lenders or any other Secured Party under the Second Amended and Restated Loan Agreement or evidence
repayment of any such indebtedness or other obligations. It is the intent of the parties hereto that this Agreement amend and restate in its entirety the Second Amended and Restated Loan Agreement and re-evidence the obligations of the Loan Parties
outstanding thereunder, secured by the Security Documents and guaranteed by the Guaranty. As of the Third Amendment Effective Date, the rights and obligations of the parties under the Second Amended and Restated Loan Agreement and the
&#147;Notes&#148; (as defined in the Second Amended and Restated Loan Agreement) shall be subsumed within and be governed by this Agreement and the Notes. The &#147;Term Loan&#148; (as defined in the Second Amended and Restated Loan Agreement)
advanced by the &#147;Lenders&#148; (as defined in the Second Amended and Restated Loan Agreement) and outstanding under the Second Amended and Restated Loan Agreement </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
immediately prior to the effectiveness of this Agreement shall continue to be a portion of the Term Loan advanced by the Lenders hereunder, <U>provided</U> that all interest, fees and expenses
owing or accruing under or in respect of the Second Amended and Restated Loan Agreement through the Third Amendment Effective Date shall be calculated as of the Third Amendment Effective Date (pro rated in the case of any fractional periods), and
shall be paid on the Third Amendment Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Remainder of page intentionally left blank; signatures begin on following page] </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF,</B> the undersigned have duly executed this Agreement as a sealed
instrument as of the date first set forth above.<B> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>MAYOR&#146;S JEWELERS, INC.</B>, as US Borrower and as Borrower Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Miranda Melfi</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Miranda Melfi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Legal Affairs and Corporate Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><U>Notice Address</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">c/o Birks Group Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">1240 Phillips Square</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Montreal, Quebec, Canada M3B 3H4</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention: Executive Vice President, Chief Financial Officer and Vice President, Legal Affairs</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telephone: 514-397-2509</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telecopier: 514-397-2537</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Third
Amended and Restated Term Loan and Security Agreement </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BIRKS GROUP INC.</B>, as Canadian Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Miranda Melfi</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Miranda Melfi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Legal Affairs and Corporate Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><U>Notice Address</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">c/o Birks Group Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">1240 Phillips Square</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Montreal, Quebec, Canada M3B 3H4</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention: Executive Vice President, Chief Financial Officer and Vice President, Legal Affairs</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telephone: 514-397-2509</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telecopier: 514-397-2537</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Third
Amended and Restated Term Loan and Security Agreement </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>MAYOR&#146;S JEWELERS OF FLORIDA, INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>JBM RETAIL COMPANY, INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>JBM VENTURE CO., INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>MAYOR&#146;S JEWELERS INTELLECTUAL</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROPERTY HOLDING COMPANY</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">each as a Guarantor</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Business Development</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Miranda Melfi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President, Legal Affairs and Corporate Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>CASH, GOLD&nbsp;&amp; SILVER USA, INC.</B> (<I>formerly known as</I> Henry Birks&nbsp;&amp; Sons U.S., Inc.)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CASH, GOLD&nbsp;&amp; SILVER INC. &#150; OR ET ARGENT, COMPTANT INC.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">each as a Guarantor</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marco Pasteris</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Marco Pasteris</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Miranda Melfi</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Miranda Melfi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Secretary</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"><B><U>Notice Address</U>:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">c/o Birks Group Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">1240 Phillips Square</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Montreal, Quebec, Canada M3B 3H4</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention: Executive Vice President, Chief Financial Officer and Vice President, Legal Affairs</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telephone: 514-397-2509</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Telecopier: 514-397-2537</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Third
Amended and Restated Term Loan and Security Agreement </P>


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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>CRYSTAL FINANCIAL LLC</B>, as Administrative Agent, Collateral Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rebecca E. Tarby</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Rebecca E. Tarby</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Managing Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>CRYSTAL FINANCIAL SPV LLC</B>, as Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rebecca E. Tarby</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Rebecca E. Tarby</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Managing Director</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"><B><U>Notice Address</U>:</B></TD></TR>
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<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>CRYSTAL FINANCIAL LLC</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Two International Place</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Boston, Massachusetts 02110</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attn: Rebecca E. Tarby</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Fax No. (617)&nbsp;428-8701</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Third
Amended and Restated Term Loan and Security Agreement </P>

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