BORROWER/SUB PLEDGE AGREEMENT among TOWN SPORTS INTERNATIONAL, LLC, VARIOUS SUBSIDIARIES OF TOWN SPORTS INTERNATIONAL, LLC and DEUTSCHE BANK TRUST COMPANY AMERICAS, as PLEDGEE Dated as of February 27, 2007Sub Pledge Agreement • March 5th, 2007 • Town Sports International Holdings Inc • Services-membership sports & recreation clubs • New York
BORROWER/SUB PLEDGE AGREEMENT (as amended, modified or supplemented from time to time, this “Agreement”), dated as of February 27, 2007, among each of the undersigned pledgors (each, a “Pledgor” and, together with any other entity that becomes a pledgor hereunder pursuant to Section 30 hereof, the “Pledgors”) and Deutsche Bank Trust Company Americas, as collateral agent (together with any successor collateral agent, the “Pledgee”), for the benefit of the Secured Creditors (as defined below). Except as otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined.
