Exhibit 10.3

 

Exhibit 2.02

 

FORM OF LOAN NOTICE

 

Date:                        , 20    

 

To:          Bank of America, N.A., as Administrative Agent

 

Ladies and Gentlemen:

 

Reference is made to that certain Credit Agreement, dated as of October 7, 2011
(as amended, restated, extended, supplemented or otherwise modified in writing
from time to time, the “Credit Agreement;” the terms defined therein being used
herein as therein defined), among STR Holdings, Inc., a Delaware corporation
(the “Borrower”), the Guarantors party thereto, the Lenders from time to time
party thereto, and Bank of America, N.A., as Administrative Agent.

 

The undersigned hereby requests (select one):

 

o  A Borrowing of Revolving Loans

 

o  A conversion or continuation of Revolving Loans

 

1.               On                               (a Business Day).

 

2.               In the amount of $                               .

 

3.               Comprised of                               .

[Type of Loan requested]

 

4.               For Eurocurrency Rate Loans:  with an Interest Period of       
months.

 

5.               Currency:                               .

 

With respect to such Borrowing, the Borrower hereby represents and warrants that
(i) such request complies with the requirements of Section 2.01 of the Credit
Agreement and (ii) each of the conditions set forth in Section 5.02 of the
Credit Agreement has been satisfied on and as of the date of such Borrowing.

 

 

STR HOLDINGS, INC.,

 

a Delaware corporation

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

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Exhibit 2.04

 

FORM OF SWING LINE LOAN NOTICE

 

Date:                     , 20   

 

To:                              Bank of America, N.A., as Swing Line Lender

 

Cc:                               Bank of America, N.A., as Administrative Agent

 

Re:                               Credit Agreement (as amended, modified,
supplemented and extended from time to time, the “Credit Agreement”) dated as of
October 7, 2011 among STR Holdings, Inc., a Delaware corporation (the
“Borrower”), the Guarantors party thereto, the Lenders from time to time party
thereto, and Bank of America, N.A., as Administrative Agent.  Capitalized terms
used but not otherwise defined herein have the meanings provided in the Credit
Agreement.

 

Ladies and Gentlemen:

 

The undersigned hereby requests a Swing Line Loan:

 

1.                                       On                     , 20     (a
Business Day).

 

2.                                       In the amount of $                    .

 

With respect to such Borrowing of Swing Line Loans, the Borrower hereby
represents and warrants that (i) such request complies with the requirements of
the first proviso to the first sentence of Section 2.04(a) of the Credit
Agreement and (ii) each of the conditions set forth in Section 5.02 of the
Credit Agreement has been satisfied on and as of the date of such Borrowing of
Swing Line Loans.

 

 

STR HOLDINGS, INC.,

 

a Delaware corporation

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

--------------------------------------------------------------------------------

 

Exhibit 2.11(a)

 

FORM OF NOTE

 

, 20    

 

FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby promises to pay to
                                           or registered assigns (the “Lender”),
in accordance with the provisions of the Agreement (as hereinafter defined), the
principal amount of each Loan from time to time made by the Lender to the
Borrower under that certain Credit Agreement, dated as of October 7, 2011 (as
amended, restated, extended, supplemented or otherwise modified in writing from
time to time, the “Agreement;” the terms defined therein being used herein as
therein defined), among the Borrower, the Guarantors party thereto, the Lenders
from time to time party thereto, and Bank of America, N.A., as Administrative
Agent.

 

The Borrower promises to pay interest on the unpaid principal amount of each
Loan from the date of such Loan until such principal amount is paid in full, at
such interest rates and at such times as provided in the Agreement.  Except as
otherwise provided in Section 2.04(f) of the Agreement, all payments of
principal and interest shall be made to the Administrative Agent for the account
of the Lender in the Applicable Currency in Same Day Funds at the Administrative
Agent’s Office for such currency.  If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from
the due date thereof until the date of actual payment (and before as well as
after judgment) computed at the per annum rate set forth in the Agreement.

 

This Note is one of the Notes referred to in the Agreement, is entitled to the
benefits thereof and may be prepaid in whole or in part subject to the terms and
conditions provided therein.  Upon the occurrence and continuation of one or
more of the Events of Default specified in the Agreement, all amounts then
remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement.  Loans made by the
Lender shall be evidenced by one or more loan accounts or records maintained by
the Lender in the ordinary course of business. The Lender may also attach
schedules to this Note and endorse thereon the date, amount, currency and
maturity of its Loans and payments with respect thereto.

 

The Borrower, for itself, its successors and assigns, hereby waives diligence,
presentment, protest and demand and notice of protest, demand, dishonor and
non-payment of this Note.

 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

 

STR HOLDINGS, INC.,

 

a Delaware corporation

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

--------------------------------------------------------------------------------

 

Exhibit 7.02

 

FORM OF COMPLIANCE CERTIFICATE

 

For the fiscal quarter ended                                   , 20      .

 

I,                                             , [Title] of STR HOLDINGS, INC.
(the “Borrower”) hereby certify that, to the best of my knowledge and belief,
with respect to that certain Credit Agreement dated as of October 7, 2011 (as
amended, modified, restated or supplemented from time to time, the “Credit
Agreement”; all of the defined terms in the Credit Agreement are incorporated
herein by reference) among the Borrower, the Guarantors, the Lenders and Bank of
America, N.A., as Administrative Agent:

 

(a)                                  The company-prepared financial statements
which accompany this certificate are true and correct in all material respects
and have been prepared in accordance with GAAP applied on a consistent basis,
subject to changes resulting from normal year-end audit adjustments.

 

(b)                                 Since                        (the date of
the last similar certification, or, if none, the Closing Date) no Default or
Event of Default has occurred under the Credit Agreement;

 

(c)                                  (select one):

 

o                                    Attached hereto are such supplements to
Schedules 6.13 (Subsidiaries), 6.17 (IP Rights), 6.20(a) (Locations of Real
Property), 6.20(b) (Locations of Tangible Personal Property), 6.20(c) (Location
of Chief Executive Office, Taxpayer Identification Number, Etc.),
6.20(d) (Changes in Legal Name, State of Formation and Structure) and
6.20(e) (Deposit and Investment Accounts) of the Credit Agreement, such that, as
supplemented, such Schedules are accurate and complete as of the date hereof.

 

o                                    No such supplements are required at this
time.

 

Delivered herewith are detailed calculations demonstrating compliance by the
Loan Parties with the financial covenants contained in Section 8.11 of the
Credit Agreement as of the end of the fiscal period referred to above.

 

This              day of                       , 20    .

 

 

STR HOLDINGS, INC.,

 

a Delaware corporation

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

--------------------------------------------------------------------------------

 

Attachment to Compliance Certificate

 

Computation of Financial Covenants

 

I.                                         Consolidated Leverage Ratio.

 

(A)                              Consolidated Funded Indebtedness (as of such
date, with respect to the Borrower and its Subsidiaries on a consolidated basis,
without duplication) the sum of:

 

(1) all obligations for borrowed money, whether current or long-term (including
the Obligations) and all obligations evidenced by bonds, debentures, notes, loan
agreements or other similar instruments;

 

$

 

(2) all purchase money Indebtedness;

 

$

 

(3) the maximum amount available to be drawn under letters of credit (including
standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and
similar instruments;

 

$

 

(4) all obligations in respect of the deferred purchase price of property or
services (other than trade accounts payable in the ordinary course of business
and not past due for more than 90 days after the date on which such trade
account was created);

 

$

 

(5) all Attributable Indebtedness;

 

$

 

(6) all obligations to purchase, redeem, retire, defease or otherwise make any
payment prior to the Maturity Date in respect of any Equity Interests or any
warrant, right or option to acquire such Equity Interest, valued, in the case of
a redeemable preferred interest, at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends;

 

$

 

(7) all Guarantees with respect to Indebtedness of the types specified in
(1) through (6) above of another Person; and

 

$

 

--------------------------------------------------------------------------------

 

(8) all Indebtedness of the types referred to in (1) through (7) above of any
partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which any Loan Party or any
Subsidiary is a general partner or joint venturer, except to the extent that
such Indebtedness is expressly made non-recourse to such Person.

 

$

 

(9) Consolidated Funded Indebtedness =
(A)(1)+(A)(2)+(A)(3)+(A)(4)+(A)(5)+(A)(6)+(A)(7)+(A)(8) =                                       
$

 

(B)                                Consolidated EBITDA (for the most recently
completed four fiscal-quarter period, for the Borrower and its Subsidiaries on a
consolidated basis) the sum of:

 

(1) Consolidated Net Income for such period

 

$

 

(2) plus the following to the extent deducted in calculating such Consolidated
Net Income:

 

(i)                                     Consolidated Interest Charges for such
period,

 

$

 

(ii)                                  the provision for federal, state, local
and foreign income taxes payable for such period,

 

$

 

(iii)                               the amount of depreciation and amortization
expense for such period,

 

$

 

(iv)                              non-cash stock compensation expense for such
period,

 

$

 

(v)                                 other non-recurring non-cash charges for
such period (other than those that represent a reserve or accrual for future
cash charges) and

 

$

 

(vi)                              extraordinary losses for such period

 

$

 

(3) minus to the extent included in calculating such Consolidated Net Income:

 

(i)                                     non-cash gains or income for such
period,

 

$

 

(ii)                                  interest income for such period,

 

$

 

--------------------------------------------------------------------------------

 

(iii)                               extraordinary gains for such period and

 

$

 

(iv)                              federal, state, local and foreign income tax
benefits for such period.

 

$

 

(4) Consolidated EBITDA = ((B)(1)) + ((B)(2)(i) + (B)(2)(ii) + (B)(2)(iii) +
(B)(2)(iv) + (B)(2)(v) + (B)(2)(vi)) – ((B)(3)(i) + (B)(3)(ii) + (B)(3)(iii) +
(B)(3)(iv)) =                      $

 

Consolidated Leverage Ratio = (A)(9) / (B)(4) =     .      :1.00(1)

 

II.                                     Consolidated Fixed Charge Coverage
Ratio.

 

(C)                                Consolidated Adjusted EBITDA (for the most
recently completed four fiscal quarters, for the Borrower and its Subsidiaries
on a consolidated basis) the sum of:

 

(1) Consolidated EBITDA for such period (see I.(B)(4) above)

 

$

 

(2) minus Consolidated Capital Expenditures for such period

 

$

 

(3) minus income taxes paid in cash during such period.

 

$

 

(4) Consolidated Adjusted EBITDA = (C)(1) – (C)(2) – (C)(3) =

$

 

(D)                               Consolidated Fixed Charges (for the most
recently completed four fiscal quarters, for the Borrower and its Subsidiaries
on a consolidated basis), the sum of:

 

(1) the cash portion of Consolidated Interest Charges for such period;

 

$

 

(2) plus Consolidated Scheduled Funded Debt Payments for such period;

 

$

 

(3) plus Restricted Payments (other than Restricted Payments made pursuant to
Sections 8.06(a) and 8.06(b) of the Credit Agreement) for such period

 

$

 

(4) Consolidated Fixed Charges = (D)(1)+(D)(2)+(D)(3) =

$

 

--------------------------------------------------------------------------------

(1)  Must not exceed maximum permitted by Section 8.11 of the Credit Agreement.

 

--------------------------------------------------------------------------------

 

Consolidated Fixed Charge Coverage Ratio = (C)(4) / (D)(4) =     .      :1.00(2)

 

--------------------------------------------------------------------------------

(2)  Must not be less than 1.50 as of the end of any fiscal quarter of the
Borrower, per Section 8.11 of the Credit Agreement.

 

--------------------------------------------------------------------------------

 

Exhibit 7.13

 

FORM OF JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT (the “Agreement”), dated as of
                          , 20    , is by and between
                                          , a
                                       (the “Subsidiary”), and BANK OF AMERICA,
N.A., in its capacity as Administrative Agent under that certain Credit
Agreement (as it may be amended, modified, restated or supplemented from time to
time, the “Credit Agreement”), dated as of October 7, 2011, by and among STR
HOLDINGS, INC., a Delaware corporation (the “Borrower”), the Guarantors, the
Lenders from time to time party thereto and Bank of America, N.A., as
Administrative Agent.  Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to them in the Credit Agreement.

 

The Loan Parties are required by Section 7.13 of the Credit Agreement to cause
the Subsidiary to become a “Guarantor”.

 

Accordingly, the Subsidiary hereby agrees as follows with the Administrative
Agent, for the benefit of the Lenders:

 

1.             The Subsidiary hereby acknowledges, agrees and confirms that, by
its execution of this Agreement, the Subsidiary will be deemed to be a party to
the Credit Agreement and a “Guarantor” for all purposes of the Credit Agreement,
and shall have all of the obligations of a Guarantor thereunder as if it had
executed the Credit Agreement.  The Subsidiary hereby ratifies, as of the date
hereof, and agrees to be bound by, all of the terms, provisions and conditions
applicable to the Guarantors contained in the Credit Agreement.  Without
limiting the generality of the foregoing terms of this paragraph 1, the
Subsidiary hereby jointly and severally together with the other Guarantors,
guarantees to each Lender and the Administrative Agent, as provided in
Article IV of the Credit Agreement, the prompt payment of the Obligations in
full when due (whether at stated maturity, as a mandatory prepayment, by
acceleration, a mandatory cash collateralization or otherwise) strictly in
accordance with the terms thereof.

 

2.             The Subsidiary hereby acknowledges, agrees and confirms that, by
its execution of this Agreement, the Subsidiary will be deemed to be a party to
the Security Agreement, and shall have all the obligations of an “Obligor” (as
such term is defined in the Security Agreement) thereunder as if it had executed
the Security Agreement.  The Subsidiary hereby ratifies, as of the date hereof,
and agrees to be bound by, all of the terms, provisions and conditions contained
in the Security Agreement.  Without limiting generality of the foregoing terms
of this paragraph 2, the Subsidiary hereby grants to the Administrative Agent,
for the benefit of the holders of the Secured Obligations (as such term is
defined in Section 1 of the Security Agreement), a continuing security interest
in, and a right of set off against any and all right, title and interest of the
Subsidiary in and to the Collateral (as such term is defined in Section 2 of the
Security Agreement) of the Subsidiary.  The Subsidiary hereby represents and
warrants to the Administrative Agent, for the benefit of the holders of the
Secured Obligations (as such term is defined in Section 1 of the Security
Agreement), that:

 

(i)            The Subsidiary’s jurisdiction of organization, tax payer
identification number, and organization identification number are as set forth
on Schedule 1 attached hereto.  The Subsidiary’s chief executive office and
chief place of business are (and for the prior four months have been) located at
the locations set forth on Schedule 1 attached hereto and the Subsidiary keeps
its books and records at such locations.

 

(ii)           The location of all owned and leased real property of the
Subsidiary is as shown on Schedule 2 attached hereto.

 

(iii)          The Subsidiary’s legal name and jurisdiction of organization is
as shown in this Agreement and the Subsidiary has not in the past four months
changed its name, been party to a

 

--------------------------------------------------------------------------------

 

merger, consolidation or other change in structure or used any tradename except
as set forth in Schedule 3 attached hereto.

 

(iv)          The patents, copyrights, and trademarks listed on Schedule 4
attached hereto constitute all of the registrations and applications for the
patents, copyrights and trademarks owned by the Subsidiary.

 

(v)           The deposit accounts and investment accounts listed on Schedule 5
attached hereto constitute all of the deposit accounts and investment accounts
owned by the Subsidiary.

 

3.             The address of the Subsidiary for purposes of all notices and
other communications is                                         ,
                                                        , Attention of
                             (Facsimile No.                         ).

 

4.             The Subsidiary hereby waives acceptance by the Administrative
Agent and the Lenders of the guaranty by the Subsidiary under Article IV of the
Credit Agreement upon the execution of this Agreement by the Subsidiary.

 

5.             This Agreement may be executed in two or more counterparts, each
of which shall constitute an original but all of which when taken together shall
constitute one contract.

 

6.             This Agreement shall be governed by, and construed and
interpreted in accordance with, the laws of the State of New York.

 

IN WITNESS WHEREOF, the Subsidiary has caused this Joinder Agreement to be duly
executed by its authorized officer, and the Administrative Agent, for the
benefit of the Lenders, has caused the same to be accepted by its authorized
officer, as of the day and year first above written.

 

 

[SUBSIDIARY]

 

 

 

 

 

By:

 

 

Name:

 

Title:

 

 

 

 

 

Acknowledged and accepted:

 

 

 

BANK OF AMERICA, N.A.,

 

as Administrative Agent

 

 

 

By:

 

 

Name:

 

Title:

 

--------------------------------------------------------------------------------

 

Schedule 1

TO FORM OF JOINDER AGREEMENT

 

[Jurisdiction of Organization, Chief Executive Office, Tax Identification
Number, Organization Identification Number

 and Chief Place of Business of Subsidiary]

 

--------------------------------------------------------------------------------

 

Schedule 2

TO FORM OF JOINDER AGREEMENT

 

[Owned and Leased Real Property]

 

--------------------------------------------------------------------------------

 

Schedule 3

TO FORM OF JOINDER AGREEMENT

 

[Tradenames]

 

--------------------------------------------------------------------------------

 

Schedule 4

TO FORM OF JOINDER AGREEMENT

 

[Patents, Copyrights, and Trademarks]

 

--------------------------------------------------------------------------------

 

Schedule 5

TO FORM OF JOINDER AGREEMENT

 

[Deposit and Investment Accounts]

 

--------------------------------------------------------------------------------

 

Exhibit 11.06(b)

 

FORM OF ASSIGNMENT AND ASSUMPTION

 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of
the Effective Date set forth below and is entered into by and between [Insert
name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the
“Assignee”).  Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. 
The Standard Terms and Conditions set forth in Annex 1 attached hereto are
hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full.

 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns
to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and
Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of the Assignor’s rights and
obligations as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and
obligations of the Assignor under the respective facilities identified below
(including, without limitation, Letters of Credit, Guarantees and Swing Line
Loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other
right of the Assignor (in its capacity as a Lender) against any Person, whether
known or unknown, arising under, or in connection with, the Credit Agreement,
any other documents or instruments delivered pursuant thereto or the loan
transactions governed thereby or in any way based on, or related to, any of the
foregoing, including, but not limited to, contract claims, tort claims,
malpractice claims, statutory claims and all other claims at law or in equity
related to the rights and obligations sold and assigned pursuant to clause
(i) above (the rights and obligations sold and assigned pursuant to clauses
(i) and (ii) above being referred to herein collectively as, the “Assigned
Interest”).  Such sale and assignment is without recourse to the Assignor and,
except as expressly provided in this Assignment and Assumption, without
representation or warranty by the Assignor.

 

1.

 

Assignor:

 

 

 

 

 

 

 

2.

 

Assignee:

 

 

 

 

 

 

[and is an Affiliate/Approved Fund of [identify Lender](3)]

 

 

 

 

 

3.

 

Borrower:

 

STR Holdings, Inc., a Delaware corporation

 

 

 

 

 

4.

 

Agent:

 

Bank of America, N.A., as the Administrative Agent under the Credit Agreement

 

 

 

 

 

5.

 

Credit Agreement:

 

Credit Agreement dated as of October 7, 2011 among the Borrower, the Guarantors
party thereto, the Lenders parties thereto and Bank of America, N.A., as
Administrative Agent

 

 

 

 

 

6.

 

Assigned Interest:

 

 

 

Facility Assigned(4)

 

Aggregate Amount of
Commitment/Loans for
all Lenders*

 

Amount of
Commitment/Loans
Assigned*

 

Percentage Assigned of
Commitment/Loans(5)

 

 

 

$

 

 

$

 

 

 

%

 

 

$

 

 

$

 

 

 

%

 

 

$

 

 

$

 

 

 

%

 

--------------------------------------------------------------------------------

(3)  Select as applicable.

(4)  Fill in the appropriate terminology for the types of facilities under the
Credit Agreement that are being assigned under this Assignment (e.g. “Revolving
Commitment”).

* Amount to be adjusted by the counterparties to take into account any payments
or prepayments made between the Trade Date and the Effective Date.

 

--------------------------------------------------------------------------------

 

 

[7.            Trade Date:                           ](6)

 

Effective Date:                                    , 20       [TO BE INSERTED BY
AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE
REGISTER THEREFOR.]

 

The terms set forth in this Assignment and Assumption are hereby agreed to:

 

 

ASSIGNOR

 

[NAME OF ASSIGNOR]

 

 

 

By:

 

 

Title:

 

 

 

ASSIGNEE

 

[NAME OF ASSIGNEE]

 

 

 

By:

 

 

Title:

 

[Consented to and](7) Accepted:

 

BANK OF AMERICA, N.A. as

Agent

 

By

 

 

Title:

 

[Consented to:](8)

 

[BANK OF AMERICA, N.A., as L/C Issuer][and Swing Line Lender]

 

By

 

 

Title:

 

[STR HOLDINGS, INC.,

a Delaware corporation]

 

By

 

 

Title:

 

--------------------------------------------------------------------------------

(5)  Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans
of all Lenders thereunder.

(6)  To be completed if the Assignor and the Assignee intend that the minimum
assignment amount is to be determined as of the Trade Date.

(7)  To be added only if the consent of the Administrative Agent is required by
the terms of the Credit Agreement.

(8) To be added only if the consent of the Borrower and/or other parties (e.g.
L/C Issuer) is required by the terms of the Credit Agreement.

 

--------------------------------------------------------------------------------

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.  Representations and Warranties.

 

1.1.  Assignor.  The Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest
is free and clear of any lien, encumbrance or other adverse claim and (iii) it
has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in, or in connection with, the
Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii) the financial condition of the
Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the
Borrower, any of its Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document.

 

1.2.  Assignee.  The Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated
hereby and to become a Lender under the Credit Agreement, (ii) it meets the
requirements to be an assignee under Section 11.06(b)(iii) and (v) of the Credit
Agreement (subject to such consents, if any, as may be required under Section
11.06(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date,
it shall be bound by the provisions of the Credit Agreement as a Lender
thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it is sophisticated with respect to
decisions to acquire assets of the type represented by the Assigned Interest and
either it, or the Person exercising discretion in making its decision to acquire
the Assigned Interest, is experienced in acquiring assets of such type, (v) it
has received a copy of the Credit Agreement, and has received or has been
accorded the opportunity to receive copies of the most recent financial
statements delivered pursuant to Section 7.01 thereof, as applicable, and such
other documents and information as it deems appropriate to make its own credit
analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest, (vi) it has, independently and without reliance
upon the Administrative Agent or any other Lender and based on such documents
and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any
documentation required to be delivered by it pursuant to the terms of the Credit
Agreement, duly completed and executed by the Assignee; and (b) agrees that (i)
it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Loan Documents, and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender.

 

2.   Payments.  From and after the Effective Date, the Administrative Agent
shall make all payments in respect of the Assigned Interest (including payments
of principal, interest, fees and other amounts) to the Assignor for amounts
which have accrued to but excluding the Effective Date and to the Assignee for
amounts which have accrued from and after the Effective Date.

 

3.  General Provisions. This Assignment and Assumption shall be binding upon,
and inure to the benefit of, the parties hereto and their respective successors
and assigns.  This Assignment

 

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and Assumption may be executed in any number of counterparts, which together
shall constitute one instrument.  Delivery of an executed counterpart of a
signature page of this Assignment and Assumption by telecopy shall be effective
as delivery of a manually executed counterpart of this Assignment and
Assumption.  This Assignment and Assumption shall be governed by, and construed
in accordance with, the law of the State of New York.

 

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Exhibit 11.06(b)(iv)

 

FORM OF ADMINISTRATIVE QUESTIONNAIRE

 

[see attached]

 

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