Exhibit 10.2   Dated 26 July 2007

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  AMENDMENT AGREEMENT
in respect of a Facilities Agreement dated
21 October 2005 for
US$1,200,000,000
€400,000,000
£200,000,000
Multicurrency Revolving Facilities  

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Contents  

Clause Page      1 Interpretation and definitions 2      2 Amendments to the
Principal Agreement 3      3 Guarantors’ Confirmation 3      4 Representations 3
     5 Incorporation of Terms 3      6 Miscellaneous 4      7 Governing Law 4  
   Schedule 1 Conditions Precedent 5      Schedule 2 Amendments to the Principal
Agreement 7      Signatories 38  

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THIS AMENDMENT AGREEMENT  is dated 26 July 2007 and made BETWEEN:

 

(1)
CARNIVAL PLC (a company organised and existing under the laws of England with
registered number 04039524) (“Carnival plc”);
 
(2)
CARNIVAL CORPORATION (a corporation organised and existing under the laws of The
Republic of Panama) (the “Company”);
 
(3)
THE SUBSIDIARIES OF THE COMPANY and of CARNIVAL PLC listed in Part 1 of
Schedule 1 of the Principal Agreement (as defined below) (together with the
Company, and Carnival plc and Societa di Crociere Mercurio S.r.l., the
“Borrowers”);
 
(4)
CARNIVAL CORPORATION and CARNIVAL PLC as guarantors of their respective
Subsidiaries (each a “Guarantor”);
 
(5)
BANC OF AMERICA SECURITIES LIMITED, BARCLAYS CAPITAL, BNP PARIBAS, J.P. MORGAN
PLC, INTESA SANPAOLO S.p.A. and THE ROYAL BANK OF SCOTLAND PLC, as mandated lead
arrangers (the “Arrangers”);
 
 
(6)
THE ROYAL BANK OF SCOTLAND PLC as facilities agent (the “Facilities Agent”);
 
 

(7)
The financial institutions listed in Parts 2 and 4 of Schedule 1 of the
Principal Agreement (each a “Lender” and collectively the “Lenders”); and
 
(8)
The financial institutions listed in Part 5 of Schedule 1 of the Principal
Agreement (the “Fronting Banks”).

 

WHEREAS:

 

(A)
Carnival plc, the Company, the Facilities Agent, the Arrangers, the Lenders, the
Fronting Banks and the Original Borrowers have entered into the “Principal
Agreement” on 21 October 2005 (as defined below).
 
(B)
The Termination Date of the Principal Agreement has been extended to 21 October
2011 pursuant to clause 4.2.1(a) of the Principal Agreement.
 
(C)
Societa di Crociere Mercurio S.r.l. acceded to the Principal Agreement as an
Additional Borrower by way of an Accession Letter dated 22 March 2007.
 
(D)
The Parties wish to amend the Principal Agreement to the extent set out in this
Amendment Agreement to provide for, inter alia, the accession of Additional
Borrowers incorporated in Spain.

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NOW IT IS AGREED as follows:

 

1 Interpretation and definitions   1.1 Definitions in Principal Agreement  

(a)
Unless the context otherwise requires or unless otherwise defined in this
Agreement, words and expressions defined in the Principal Agreement shall have
the same meanings when used in this Amendment Agreement.
 
(b)
The principles of construction set out in the Principal Agreement shall have
effect as if set out in this Amendment Agreement.
   

1.2 Interpretation of Principal Agreement      
References in the Principal Agreement to “this Agreement” shall, with effect
from the Effective Date and unless the context otherwise requires, be references
to the Principal Agreement as amended by this Amendment Agreement.
   

1.3 Third party rights      
No term of this Amendment Agreement is enforceable under the Contracts (Rights
of Third Parties) Act 1999 by any person who is not a party to this Amendment
Agreement.

    1.4 Definitions      
“Effective Date” means the date on which the Facilities Agent confirms to the
Lenders and the Company that it has received each of the documents and consents
listed in Schedule 1 (Conditions Precedent) in a form and substance satisfactory
to the Facilities Agent; and
   
“Principal Agreement” means the facilities agreement for USD$1,200,000,000,
€400,000,000 and £200,000,000 multicurrency revolving facilities dated 21
October 2005 made between Carnival plc, Carnival Corporation, the companies
listed in Part 1 of Schedule 1 of such agreement as borrowers, The Royal Bank of
Scotland plc as facilities agent, Banc of America Securities Limited, Barclays
Capital, BNP Paribas, J.P. Morgan plc, SANPAOLO IMI S.p.A. and The Royal Bank of
Scotland plc as mandated lead arrangers and the financial institutions listed in
Parts 2 and 4 of Schedule 1 of such agreement as lenders and the financial
institutions listed in Part 5 of Schedule 1 of such agreement as fronting banks,
and acceded to by Societa di Crociere Mercurio S.r.l. as an Additional Borrower
by way of an Accession Letter dated 22 March 2007.

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1.5 Designation      
In accordance with the Principal Agreement, each of the Company and the
Facilities Agent designate this Amendment Agreement as a Finance Document.
 

2 Amendments to the Principal Agreement  

 
The Parties agree that, with effect from the Effective Date, the Principal
Agreement shall be amended as set out in Schedule 2 (Amendments to the Principal
Agreement).
 

3 Guarantors’ Confirmation   

 
Each Guarantor agrees and confirms for the benefit of the Finance Parties that
its guarantee given under clause 22 (Guarantee and indemnity) of the Principal
Agreement, shall remain legal, valid, binding and enforceable and continue in
full force and effect notwithstanding the amendment to the Principal Agreement
contained herein and the designation of any new document as a Finance Document
or any additions, amendments, substitution or supplements of or to the Finance
Documents and the imposition of any amended, new or more onerous obligations
under the Finance Documents in relation to any Obligor and clause 22 (Guarantee
and indemnity) of the Principal Agreement extend to any new obligations assumed
by any Borrower and each Guarantor’s respective Deed of Guarantee extends to any
new obligations assumed by the relevant Obligor specified therein under any
amended or new Finance Document.
 

4 Representations  

 
The Repeating Representations are deemed to be made by each Obligor (by
reference to the facts and circumstances then existing) on:
 

(a) the date of this Amendment Agreement; and   (b) the Effective Date.  

5 Incorporation of Terms  

 
The provisions of Clause 37 (Partial invalidity), Clause 35 (Notices), Clause 38
(Remedies and Waivers) and Clause 42 (Enforcement) of the Principal Agreement
shall be incorporated into this Amendment Agreement as if set out in full in
this Amendment Agreement and as if references in those clauses to “this
Agreement” or “the Finance Documents” are references this Amendment Agreement.

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6 Miscellaneous

    6.1 Continuation of Principal Agreement      
Save as amended by this Amendment Agreement, the terms and conditions of the
Principal Agreement remain unaltered and shall continue in full force and
effect. The Principal Agreement and this Amendment Agreement shall be read and
construed as one instrument.
    6.2 Counterparts    

 
This Amendment Agreement may be executed in any number of counterparts and by
the different parties on separate counterparts, each of which when so executed
and delivered shall be an original but all counterparts shall together
constitute one and the same instrument.

    6.3 Further assurance      
Each Obligor shall, at the request of the Facilities Agent and at its own
expense, do all such acts and things reasonably necessary or desirable to give
effect to the amendments effected or to be effected pursuant to this Amendment
Agreement.
 

7 Governing Law  

 
This Amendment Agreement shall be construed in accordance with and governed by
English law.
   
This Amendment Agreement has been entered into on the date stated at the
beginning of this Amendment Agreement.

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Schedule 1

Conditions Precedent

 

1 Obligors     (a)
A copy of the constitutional documents of each Obligor or a certificate of an
authorised signatory of each relevant Obligor certifying that the constitutional
documents previously delivered to the Facilities Agent for the purposes of the
Principal Agreement have not been amended and remain in full force and effect.
  (b)
A copy of a resolution of the board of directors of each Obligor (and/or
executive committees thereof and if required by its existing by-laws, a copy of
the resolution of the meeting of the Shareholders of each of Costa Crociere
S.p.A. and Societa di Crociere Mercurio S.r.l.):
 

(i)
approving the terms of, and the transactions contemplated by, this Amendment
Agreement and resolving that it execute this Amendment Agreement;
  (ii)
authorising a specified person or persons to execute this Amendment Agreement on
its behalf,
 
or a certificate of an authorised signatory of each relevant Obligor certifying
that the resolutions of the board of directors of the relevant Obligor (and/or
executive Committees thereof) which were passed in relation to the Principal
Agreement and any amendments thereto have not been amended or revoked and remain
in full force and effect, and are sufficient for approving the terms of, and the
transactions contemplated by, and authorising the execution of this Amendment
Agreement.
 

(c)
A specimen of the signature of each person who executes the Amendment Agreement
and who is authorised by the resolution referred to in paragraph (b) above.
  (d)
A certificate of an authorised signatory of the relevant Obligor certifying that
each copy document relating to it specified in this Schedule 1 is correct,
complete and in full force and effect as at a date no earlier than the date of
this Amendment Agreement.
  (e)
A legal opinion of Clifford Chance LLP, English law legal advisers to the
Arrangers and the Facilities Agent, addressed to the Finance Parties.
  (f)
A certificate of registration (certificato di iscrizione) of each of Costa
Crociere S.p.A. and Societa di Crociere Mercurio S.r.l. with the relevant
Companies Register dated not earlier than 5 Business Days prior to the date of
this Amendment Agreement, confirming that no

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insolvency procedures have been started in relation to, respectively, Costa
Crociere S.p.A. and Societa di Crociere Mercurio S.r.l.
 

(g)
A confirmation, executed as a deed, by Carnival plc of its Deed of Guarantee.
  (h)
A confirmation, executed as a deed, by the Company of its Deed of Guarantee.
  (i)
A legal opinion of Tapia, Linares y Alfaro, Panama law legal advisers, addressed
to the Finance Parties.
  (j)
A legal opinion of Clifford Chance LLP, New York State law legal advisers
addressed to the Finance Parties.
  (k)
A legal opinion of Perkins Coie LLP, Washington State law legal advisers,
addressed to the Finance Parties.
  (l)
A legal opinion of Clifford Chance Studio Legale Associato, Italian law legal
advisers, addressed to the Finance Parties.

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Schedule 2

Amendments to the Principal Agreement

 
All references in this Schedule to a “Clause”, “Paragraph” or “Schedule” are
references to that clause, paragraph or schedule, as the case may be, in the
Principal Agreement as in effect immediately prior to the Effective Date.
 

1
On the front page of the Principal Agreement the words “SANPAOLO IMI S.p.A.”
shall be deleted and replaced by the words “Intesa SANPAOLO S.p.A.”.
  2
In Recital 5 of the Principal Agreement the words “SANPAOLO IMI S.p.A.” shall be
deleted and replaced by the words “Intesa SANPAOLO S.p.A.1” and the following
footnote shall be inserted at the foot of the page:
   
“This is the surviving entity following the merger of SANPAOLO IMI S.p.A. and
Banco Intesa S.p.A.”
  3
All references in the Principal Agreement, except those in Schedule 12, to
“Princess Cruise & Tours, Inc.” shall be deleted and replaced by references to
“Princess Cruises and Tours, Inc.”
    4
In Clause 1.1 the following definitions shall be added in alphabetical order:
   

 
“Available Swingline Tranche D Commitment” of a Swingline Lender under Tranche D
means (but without limiting clause 8.6 (Relationship with the Facilities)) that
Lender’s Swingline Tranche D Commitment minus:
 

(a)
the Base Currency Amount of its participation in any outstanding Swingline Loans
under Tranche D; and
  (b)
in relation to any proposed Swingline Utilisation under Tranche D, the Base
Currency Amount of its participation in any Swingline Loans that are due to be
made under Tranche D on or before the proposed Utilisation Date,
 

 
other than that Lender’s participation in any Swingline Loans under Tranche D
that are due to be repaid or prepaid on or before the proposed Utilisation Date.
   
“Available Swingline Tranche D Facility” means the aggregate for the time being
of each Swingline Lender’s Available Swingline Tranche D Commitment.
   
“Available Tranche D Commitment ” of a Lender means that Lender’s Tranche D
Commitment minus:

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(a)
the Base Currency Amount of its participation in any outstanding Utilisations
under Tranche D; and
  (b)
in relation to any proposed Utilisation under Tranche D, the Base Currency
Amount of its participation in any Utilisations under Tranche D that are due to
be made on or before the proposed Utilisation Date,
 

 
other than that Lender’s participation in any Utilisations under Tranche D that
are due to be repaid or prepaid on or before the proposed Utilisation Date.
   
“Available Tranche D Facility” means the aggregate for the time being of each
Lender’s Available Tranche D Commitment.
   
“First Amendment Agreement” means an agreement dated 26 March 2007 between the
Parties to this Agreement at that time, by which this Agreement was amended.
   
“ITA 2007” means the Income Tax Act 2007.
   
“Obligors’ Agent” means the Company, appointed to act on behalf of each Obligor
(other than the Company, Costa Crociere S.p.A., Societa di Crociere Mercurio
S.r.l. and any other Obligor incorporated in Italy) in relation to the Finance
Documents pursuant to clause 2.3 (Obligors’ Agent).
    “Overall Tranche D Commitment” of a Lender means:  

(a) its Tranche D Commitment; or   (b)
in the case of a Swingline Lender which does not have a Tranche D Commitment,
the Tranche D Commitment of a Lender which is its Affiliate.
 

  “Spanish Borrower” means each Borrower resident for tax purposes in Spain.    
“Spanish Insolvency Law” means Law 22/2003 of 9 July 2003.     “Swingline
Tranche D Commitment” means:  

(a)
in relation to a Swingline Lender under Tranche D on the Effective Date (as
defined in the First Amendment Agreement), the amount in the Base Currency for
Tranche D set opposite its name under the heading Swingline Tranche D Commitment
in Part 4 of Schedule 1 (The Original Parties) and the amount of any other
Swingline Tranche D Commitment transferred to it under this Agreement; and
  (b)
in relation to any other Swingline Lender under Tranche D, the amount in the
Base Currency for Tranche D of any Swingline Tranche D Commitment transferred to
it under this Agreement,

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(c)
to the extent not cancelled, reduced or transferred by it under this Agreement.
 

 
“Total Swingline Tranche D Commitments” means, at any time, the aggregate of the
Swingline Tranche D Commitments of all the Swingline Lenders under Tranche D at
that time.
   
“Total Tranche D Commitments” means, at any time, the aggregate of the Tranche D
Commitments of all the Lenders at that time.
   
“Tranche D” means the facility made available by the Lenders to the Borrowers
under clause 2.1.1(d).
    “Tranche D Commitment” means:  

(a)
in relation to an Original Lender, the amount in the Base Currency for Tranche D
set opposite its name under the heading Tranche D Commitment in Part 2 of
Schedule 1 (The Original Parties) and the amount of any other Tranche D
Commitment transferred to it under this Agreement; and
  (b)
in relation to any other Lender, the amount in the Base Currency for Tranche D
of any Tranche D Commitment transferred to it under this Agreement,
 

 
to the extent not cancelled, reduced or transferred by it under this Agreement.
   
“Tranche D Indemnified Proportion” means, in relation to a Lender, the
proportion (expressed as a percentage) borne by that Lender’s Available Tranche
D Commitment to the Available Tranche D Facility, adjusted to reflect any
assignment or transfer under this Agreement to or by that Lender.
   

5
In Clause 1.1, the following definitions shall be amended as follows:
    5.1
In the definition of Approved Jurisdiction the word “Spain” shall be inserted in
sub-paragraph (c) and the subsequent numbering altered accordingly.
  5.2
In the definition of Base Currency the words “and Tranche D” shall be added
after the words “Tranche A” in sub-paragraph (a).
    5.3 In the definition of Commitment:    

(a) the word “and” shall be deleted from the end of sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:

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  “Tranche D Commitment”.  

5.4
In the definition of Finance Document the words “the First Amendment Agreement”
shall be inserted at sub-paragraph (c) and the subsequent numbering altered
accordingly.
    5.5 In the definition of Increased Cost:    

(a)
the words “and/or” shall be deleted and replaced with a comma; and
  (b)
the words “and/or Tranche D Commitment” shall be inserted after the words
“Tranche C Commitment”.
 

5.6
In the definition of Screen Rate the word “Telerate” shall be deleted and
replaced with the word “Reuters”.
    5.7 In the definition of Termination Date:    

(a)
the words “each Tranche” shall be deleted and replaced by the words “Tranche A,
Tranche B and Tranche C”; and
  (b)
the word “as” shall be deleted and replaced with the words “and in relation to
Tranche D means 21 October 2011, as each such date”.
    5.8 In the definition of Total Commitments:    

(a) the word “and” shall be deleted at the end of sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:   “the Total Tranche
D Commitments”.   5.9 In the definition of Tranche:

    (a) the word “or” shall be deleted from the end of sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; or”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:   “Tranche D”.

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5.10
In the definition of Tranche C Commitment the words “transferred by it” shall be
replaced by the words “transferred to it” in sub-paragraph (b).
    5.11
In the definition of US Dollar, USD and $US, “$US” shall be replaced by “US$”.
    5.12
The definition of VAT shall be deleted and replaced with the following
definition:
   

 
““VAT” means valued added tax as provided for in the Council Directive
2006/112/EC of 28 November 2006 on the common system of the valued added tax and
any EU Member State legislation on this tax, including the UK Valued Tax Act
1994 on Spanish Law 37/1992 of 28 December or any regulations promulgated
thereunder, as well as any other tax of a similar nature.”
    6 In clause 1.2.8:    

(a) the word “and” shall be deleted at the end of sub-paragraph (a);   (b)
in sub-paragraph (b) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (c) shall be inserted as follows:  

 
“Notwithstanding anything to the contrary in this Agreement, references to a
Commitment of “Bank of America, N.A./Banc of America Securities Limited”
(together, the “Bank of America Entities”) in relation to Tranche D shall be
construed as references to the aggregate Commitment of Bank of America, N.A. and
Banc of America Securities Limited in relation to Tranche D (as allocated
between the Bank of America Entities in such proportions and such amounts as
Bank of America, N.A. may notify the Facilities Agent from time to time). Any
reference to a Commitment or obligation of Banc of America Securities Limited as
Lender shall be construed solely as being an obligation to procure that any
appropriately authorised and located entity (being a Bank of America Entity)
perform such obligation and any Spanish Borrower (and any other Borrower
notified by Bank of America, N.A. to the Facilities Agent for such purpose)
shall only be obliged to repay the Bank of America Entity which has made
available the relevant Loan under its Tranche D Commitment”.
   

7 In clause 2.1.1:     (a) the word “three (3)” shall be replaced with the word
“four (4)”;   (b) the word “and” from the end of sub-paragraph (b) shall be
deleted;   (c)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and

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(d) a new sub-paragraph (d) shall be inserted as follows:  
“A US Dollar facility in an aggregate amount equal to the Total Tranche D
Commitments.”
  8 In clause 2.1.2 the following words shall be inserted at the end of the
clause:  

 
“unless such Lender has ceased to be a Qualifying Lender by reason of any change
after the date it became a Lender under the Agreement in (or in the
interpretation, administration, or application of) any law or double taxation
agreement or any published practice or concession of any relevant tax
authority.”

  9 New clauses 2.1.4, 2.1.5 and 2.1.6 shall be added as follows:  
“2.1.4   Each Lender under Tranche D which lends to Spanish Borrowers must be a
Qualifying Lender (as defined in clause 17.16) unless such Lender has ceased to
be a Qualifying Lender by reason of any change after the later of the date on
which it became a Lender under this Agreement and the date of the First
Amendment Agreement in (or in the interpretation, administration, or application
of) any law or double taxation agreement or any published practice or concession
of any relevant taxing authority.
 

2.1.5
If a Borrower is a Spanish Borrower, that Borrower may only request a Loan under
Tranche D.
  2.1.6 A Spanish Borrower may not request or receive a Swingline Loan.”

    10 A new clause 2.3 shall be added as follows:  

“2.3 Obligors’ Agent     2.3.1
Each Obligor (other than the Company, Costa Crociere S.p.A., Societa di Crociere
Mercurio S.r.l. and any other Obligor incorporated in Italy) by its execution of
this Agreement or an Accession Letter irrevocably appoints the Company to act on
its behalf as its agent in relation to the Finance Documents and irrevocably
authorises:
 

(a)
the Company on its behalf to supply all information concerning itself
contemplated by this Agreement to the Finance Parties and to give all notices
and instructions (including, in the case of a Borrower, Utilisation Requests),
to execute on its behalf any Accession Letter, to make such agreements and to
effect the relevant amendments, supplements and variations capable of being
given, made or effected by any Obligor notwithstanding that they may affect the
Obligor, without further reference to or the consent of that Obligor; and
  (b)
each Finance Party to give any notice, demand or other communication to that
Obligor pursuant to the Finance Documents to the Company,

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and in each case the Obligor shall be bound as though the Obligor itself had
given the notices and instructions (including without limitation, any
Utilisation Requests) or executed or made the agreements or effected the
amendments, supplements or variations, or received the relevant notice, demand
or other communication.
 

2.3.2
Every act, omission, agreement, undertaking, settlement, waiver, amendment,
supplement, variation, notice or other communication given or made by the
Obligors’ Agent or given to the Obligors’ Agent under any Finance Document on
behalf of another Obligor or in connection with any Finance Document (whether or
not known to any other Obligor and whether occurring before or after such
Obligor became an Obligor under any Finance Document) shall be binding for all
purposes on that Obligor as if that Obligor had expressly made, given or
concurred with it. In the event of any conflict between any notices or other
communications of the Obligors’ Agent and any other Obligor, those of the
Obligors’ Agent shall prevail.”

    11 In clause 4.2.1(b):     (a) the words “and/or” shall be deleted and
replaced by a comma; and   (b)
the words “and/or Tranche D Commitments” shall be inserted after the words
“Tranche C Commitments”.

    12 In clause 4.2.1(c):     (a)
The first occurrence of the words “and/or” shall be deleted and replaced by a
comma; and
  (b)
the words “and/or Tranche D Commitments” shall be inserted after the words
“Tranche C Commitments”.

    13 In the first paragraph of clause 4.2.6:     (a)
The first occurrence of the words and/or” shall be deleted and replaced by a
comma; and
  (b)
the words “and/or Tranche D Commitments” shall be inserted after the words
“Tranche C Commitments”.

    14 In clause 4.2.6(a):     (a)
the word “or” shall be deleted from the third line and replaced by a comma; and
  (b)
the words “or Tranche D Commitment” shall be inserted after “Tranche C
Commitment”.

    15 In clause 4.2.6(b):     (a)
each occurrence of the words “and/or” shall be deleted and replaced by a comma;
and

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(b)
the words “and/or Tranche D Commitment” shall be inserted after each occurrence
of the words “Tranche C Commitment”.

    16 Clause 4.2.7 shall be deleted and replaced by the following:      
“No Lender is under any obligation to extend the Termination Date applicable to
its Tranche A Commitment, Tranche B Commitment, Tranche C Commitment and/or
Tranche D Commitment. No Termination Date for Tranche A Commitment, Tranche B
Commitment or Tranche C Commitment may be extended more than twice or beyond the
seventh (7th) anniversary of the Signing Date. The Termination Date for Tranche
D may not be extended more than once and not beyond the seventh (7th)
anniversary of the Signing Date.”
    17 In clause 5.3.2(a):    

(a) in sub-paragraph (i) “$” shall be deleted and shall be reinserted after
“US”;   (b) the word “or” shall be deleted at the end of sub-paragraph (ii);  
(c) in sub-paragraph (iii) the word “or” shall be inserted at the end of the
sub-paragraph; and   (d) a new sub-paragraph (iv) shall be inserted as follows:
 

 
“in respect of Tranche D, a minimum of US$20,000,000 or, if less, the Available
Tranche D Facility;”

    18 In clause 5.3.2(b):     (a) in sub-paragraph (i) “$” shall be deleted and
shall be reinserted after “US”;   (b) the word “or” shall be deleted at the end
of sub-paragraph (ii);   (c)
in sub-paragraph (iii) the word “or” shall be inserted at the end of the
sub-paragraph; and
  (d) a new sub-paragraph (iv) shall be inserted as follows:  

 
“in respect of Tranche D, a minimum of US$20,000,000 or, if less, the Available
Tranche D Facility (where the amount of the proposed Loan Utilisation is
converted into US Dollars at the Facilities Agent’s Spot Rate of Exchange on the
date of the Loan Utilisation Request); and”.

    19 In clause 5.4.4:     (a) the word “and” should be deleted at the end of
sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”

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(c) a new sub-paragraph (d) shall be inserted as follows:  

 
“each Loan Utilisation under Tranche D will be equal to the proportion which its
Available Tranche D Commitment bears to the Available Tranche D Facility
immediately prior to making the Loan Utilisation.”
    20 In clause 7.1.2(d):    

(a)
the words “, or Tranche D, as the case may be” shall be inserted after the first
occurrence of the word “Tranche B”; and
  (b)
the words “or Available Tranche D Facility as the case may be” shall be inserted
after the words “Tranche B Facility”.
 

21 In clause 7.2.2 each occurrence of the figure “500” shall be replaced with
the figure “600”;   22 In clause 8.1.1(e) the words “and Tranche D” shall be
inserted after the words “Tranche A”;     23 In clause 8.2.2:    

(a) the word “or” shall be deleted at the end of sub-paragraph (b);   (b)
in sub-paragraph (c) the comma at the end of the sub-paragraph be replaced by “;
or”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:  

 
“The address in New York City notified by the Facilities Agent for this purpose
(in the case of Tranche D).”

    24 In clause 8.4.2:     (a)
in sub-paragraph (a) “$” shall be deleted and shall be reinserted after the
words US;
  (b) the word “or” shall be deleted at the end of sub-paragraph (b);   (c)
in sub-paragraph (c) the word “or” shall be inserted at the end of the
sub-paragraph; and a new sub-paragraph (d) shall be inserted as follows:
 

 
“Tranche D, a minimum of US$10,000,000 or, if less the Available Swingline
Tranche D Facility and not more than the lesser of the Available Swingline
Tranche D Facility and the Available Tranche D Facility.”
 

25 In clause 8.5.1 the words “and Tranche D” shall be inserted after the words
“Tranche A”.       26 In clause 8.5.3:

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(a) the word “and” shall be deleted at the end of sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”
  (c) a new sub-paragraph (d) shall be inserted as follows:  

 
“each Swingline Loan under Tranche D will be equal to the proportion which its
Available Swingline Tranche D Commitment bears to the Available Swingline
Tranche D Facility immediately prior to making the Swingline Loan.”

    27 In clause 8.6.2:     (a) the word “and” shall be deleted and replaced
with a comma; and   (b) the words “and Tranche D” shall be inserted after the
words “Tranche C”.

    28 In clause 8.6.3:     (a) the word “and” shall be deleted at the end of
sub-paragraph (b);   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:  

 
“Loan under Tranche D to the extent that it would not result in the Base
Currency Amount of its participation and that of a Lender which is its Affiliate
in Loans under Tranche D exceeding its Overall Tranche D Commitment.”

    29 In 8.6.4:     (a)
in sub-paragraph (b) the word “and” shall be deleted at the end of the
sub-paragraph;
  (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c)
a new sub-paragraph (d) shall be inserted as follows:
 

 
“under Tranche D it would have exceeded its Overall Tranche D Commitment, the
excess will be apportioned among the other Lenders participating in a relevant
Loan under Tranche D pro rata according to their Tranche D Commitments.”

    30 In clause 9.1:     (a)
in sub-paragraph (b) the word “and” shall be deleted at the end of the
sub-paragraph;

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(b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:  

 
“the Swingline Lenders under Tranche D make available to the Borrowers a US
Dollar swingline loan facility in an aggregate amount equal to the Total
Swingline Tranche D Commitments.”

    31 In clause 9.4.1:     (a) in sub-paragraph (b) the word “and” shall be
deleted at the end of the sub-paragraph;   (b)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (c) a new sub-paragraph (d) shall be inserted as follows:  

 
“each Lender under Tranche D shall (according to its Tranche D Indemnified
Proportion) immediately on demand indemnify each Swingline Lender under Tranche
D against any cost, loss or liability incurred by that Swingline Lender
(otherwise than by reason of that Swingline Lender’s gross negligence or wilful
misconduct) in acting as a Swingline Lender of a Swingline Loan under Tranche D
(unless that Swingline Lender has been reimbursed by an Obligor pursuant to a
Finance Document).”

    32 In clause 9.6.1 a new sub-paragraph (d) shall be inserted as follows:    
  “For Swingline Loans under Tranche D, the higher of:  

(i)
the prime commercial lending rate in US Dollars announced by the Facilities
Agent at the Specified Time and in force on that day; and
  (ii)
0.50 per cent. per annum over the rate per annum determined by the Facilities
Agent to the Federal Funds Rate (as published by the Federal Reserve Bank of New
York) for that day.”

    33 In clause 9.9 a new clause 9.9.4 shall be inserted as follows:      
“Notwithstanding any other term of this Agreement, each Lender shall ensure that
at all times its Overall Tranche D Commitment is not less than:
 

(a) its Swingline Tranche D Commitment; or   (b)
if it does not have a Swingline Tranche D Commitment, the Swingline Tranche D
Commitment of a Lender which is its Affiliate.”

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34
In clause 10.3.1 (b) the words “(other than in respect of any Utilisation under
Tranche D)” shall be inserted before the words “Australian Dollars”.
    35 In clause 12.1.3(b):    

(a)
the first occurrence of the word “and” shall be deleted after the words “Tranche
B Commitment” and replaced by a comma; and
  (b)
the words “and the Tranche D Commitment” shall be inserted after the words “the
Tranche C Commitment”.

    36 In clause 12.2.3(a):     (a)
the first occurrence of the word “and” shall be deleted after the words “Tranche
B Commitments” and replaced by a comma;
  (b) the words “and/or” shall be deleted;   (c)
the words “and the Total Tranche D Commitments” shall be inserted after the
words “the Total Tranche C Commitments”; and
  (d) the words “and/or” shall be inserted at the end of the sub-paragraph.

    37 In clause 12.3.2;     (a) in sub-paragraph (a) the “$” shall be deleted
and reinserted after the “US”;   (b)
In sub-paragraph (b) the word “and” shall be deleted at the end of the
sub-paragraph;
  (c)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”; and
  (d) a new sub-paragraph (d) shall be inserted as follows  

 
“in respect of Tranche D, in a minimum amount of US$5,000,000 (or its equivalent
in any Optional Currency).”

    38 In clause 12.4:     (a)
the word “and” shall be deleted after the words “Tranche B Commitment” and
replaced by a comma; and
  (b)
the words “and the Tranche D Commitment” shall be inserted after the word “the
Tranche C Commitment.”
    39 In clause 12.5.1:

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(a) the words “and/or” shall be deleted and replaced by a comma; and   (b)
the words “and/or the Available Tranche D Facility” shall be inserted after the
words “the Available Tranche C Facility.

    40 In clause 12.5.2:     (a) in sub-paragraph (a) the “$” shall be deleted
and reinserted after “US”;   (b)
the word “and” shall be deleted at the end at the end of the sub-paragraph (b);
and
  (c)
in sub-paragraph (c) the full stop at the end of the sub-paragraph shall be
deleted and replaced by “; and”;
  (d) a new sub-paragraph (d) shall be inserted as follows:  

 
“the Available Tranche D Facility must be in a minimum amount of
US$10,000,000.”.

    41 In clause 12.5.3:     (a)
the word “and” shall be deleted after the words “Tranche B Facility” and
replaced by a comma; and
  (b)
the words “and Available Tranche D Facility” shall be inserted after the words
“Available Tranche C Facility”.

    42 In clause 12.6.2(b):     (a)
the word “and” shall be deleted after the words “Tranche B Commitment” and
replaced by a comma; and
  (b)
the words “and the Tranche D Commitment” shall be inserted after the words “ the
Tranche C Commitment”.

    43 In clause 12.7.6:     (a) the word “or” shall be deleted and replaced by
a comma; and   (b)
the words “Total Tranche D Commitments” shall be inserted after the words “Total
Tranche C Commitments”.

    44 In clause 16.1.2:     (a)
the word “and” shall be deleted from the third line and replaced by a comma; and

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(b)
the words “and the Total Tranche D Commitments” shall be inserted after the
words “the Total Tranche C Commitments”.

    45 The new clauses 17.1.4 and 17.1.5 shall be inserted as follows:    
“17.1.4
Clauses 17.16 to 17.21 shall only apply in respect of payments by any Spanish
Borrower.
  17.1.5
Clauses 17.22 to 17.27 shall apply in respect of payments by any Obligor that
does not fall within any of clauses 17.1.1, 17.1.2, 17.1.3 or 17.1.4.”

    46 In clause 17.2, in paragraph (a) of the definition U.K. Lender:     (a)
the words “349 of the Taxes Act” shall be replaced by the words “879 ITA 2007”;
and
  (b)
the words “840A of the Taxes Act” shall be replaced by the words “991 ITA 2007”.
 

47
New clauses 17.16, 17.17, 17.18, 17.19, 17.20 and 17.21 shall be added as
follows and the subsequent numbering altered accordingly:
    “17.16  General  

  In clauses 17.16 to 17.20:    
Non-Spanish Lender means a Lender resident for tax purposes outside Spain and
which is:
 

(i)
resident in a member state of the European Union provided it does not obtain
income from this transaction through a territory considered to be a tax haven
for Spanish tax purposes (as currently set out in Royal Decree 1080/1991, of 5
July) nor operates, through a permanent establishment located in Spain with
which this transaction is effectively connected; or
  (ii) a Treaty Lender.  

 
Qualifying Lender  means a Spanish Lender or a Non-Spanish Lender which is
beneficially entitled to interest payable to that Lender in respect of an
advance under this Agreement.
   
Spanish Lender  means a Lender which is a Spanish financial entity or a Spanish
branch of a non-Spanish financial entity that complies with the requirements
described in:
 

(i)
paragraph (c) of Article 59 of Royal Decree 1777/2004, of 30 July, on Corporate
Income Tax Regulations (Real Decreto 1777/2004, de 30 de Julio, por el que se
aprueba el Reglamento del Impuesto sobre Sociedades); or

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(ii)
the second paragraph of Article 8.1 of Royal Decree 1776/2004, of July 30, on
Non Resident Income Tax Regulations (Real Decreto 1776/2004, de 30 de julio, por
el que se aprueba el Reglamento del Impuesto sobre la Renta de no Residentes),
 

 
as a financial entity (“entidad de credito”), as defined in Article 1 of Royal
Decree 1298/1986 (as amended by the Law 3/1994 which implemented the Second
Directive on Financial Institutions) and that is registered with the Special
Registry of the Bank of Spain.
   
Tax Credit  means a credit against any Tax or any relief or remission for Tax
(or its repayment).
   
Tax Payment  means either the increase in a payment made by an Obligor to a
Finance Party under clause 17.17 (Tax gross-up) or a payment under clause 17.18
(Tax indemnity).
    Treaty Lender  means a Lender which:  

(a) is resident of a Treaty State; and   (b)
does not carry on a business in Spain through a permanent establishment, branch
or agency with which the payment is effectively connected.
 

 
Treaty State  means a jurisdiction having a double taxation agreement (a
“Treaty”) with Spain which makes provision for full exemption from tax imposed
by Spain on the income obtained for any Finance Party.
 

  17.17  Tax gross-up    

(a)
Each Obligor must make all payments to be made by it under the Finance Documents
without any Tax Deduction, unless a Tax Deduction is required by law.
  (b) If:  

(i) a Lender is not, or ceases to be, a Qualifying Lender; or   (ii)
an Obligor or a Lender is aware that an Obligor must make a Tax Deduction (or
that there is a change in the rate or the basis of a Tax Deduction),
 

 
it must promptly notify the Facilities Agent. The Facilities Agent must then
promptly notify the affected Parties.
 

(c)
Except as provided below, if a Tax Deduction is required by law to be made by an
Obligor, the amount of the payment due from the Obligor will be increased to an

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amount which (after making the Tax Deduction) leaves an amount equal to the
payment which would have been due if no Tax Deduction had been required.
 

(d)
Except as provided below, an Obligor is not required to make an increased
payment under paragraph (c) above for a Tax Deduction in respect of the tax
imposed by Spain to a Lender that is not, or has ceased to be, a Qualifying
Lender in excess of the increase that the Obligor would have had to pay under
paragraph (c) above had the Lender been, or not ceased to be, a Qualifying
Lender.
  (e)
Paragraph (d) above will not apply if the Lender has ceased to be a Qualifying
Lender by reason of any change after the later of the date on which it became a
Lender under this Agreement and the date of the First Amendment Agreement in (or
in the interpretation, administration, or application of) any law or double
taxation agreement or any published practice or concession of any relevant
taxing authority.
  (f)
If an Obligor is required to make a Tax Deduction, that Obligor shall make that
Tax Deduction and must make any payment required in connection with that Tax
Deduction within the time allowed by law.
  (g)
Within 30 days of making either a Tax Deduction or a payment required in
connection with a Tax Deduction, the Obligor must deliver to the Facilities
Agent for the relevant Finance Party evidence reasonably satisfactory to that
Finance Party that the Tax Deduction has been made or (as applicable) the
appropriate payment has been paid to the relevant taxing authority.
  (h)
Each Qualifying Lender considered a Non-Spanish Lender shall, on or prior to the
date of the First Amendment Agreement in the case of each Existing Lender as at
the date of the First Amendment Agreement and on the date of the assignment or
transfer pursuant to which it becomes a Lender in the case of each New Lender
after the date of the First Amendment Agreement and in the case of any other
Finance Party (as the terms “Existing Lender” and “New Lender” are defined in
clause 28) and from time to time thereafter as reasonably requested in writing
by a Spanish Borrower (but only so long thereafter as such Lender remains
lawfully able to do so), provide each of the Facilities Agent and each Spanish
Borrower with either (i) an original certificate issued by the competent
authority of the taxing jurisdiction in which such Lender is resident attesting
to the fact that such Lender is tax-resident in a Member State of the European
Union, or (ii) such certification or documentation as may be issued by the
taxing authority of the jurisdiction in which it is resident for tax purposes,
as contemplated by the Treaty that such jurisdiction has concluded with the
Kingdom of Spain, certifying the residence of such Lender in such taxing
jurisdiction within the meaning of the Treaty of such jurisdiction with

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the Kingdom of Spain, with the result that such Lender is exempt from Spanish
withholding tax under such Treaty on payments pursuant to a Finance Document.
   
If no documentation is provided or the documentation provided by a Lender does
not comply with the necessary requirements under Spanish law to ensure that no
Spanish tax shall be withheld on payments made under the Finance Documents, any
increased amount due under paragraph (c) above shall not be payable by an
Obligor.
   
Each Obligor which makes a payment to which a Treaty Lender is entitled shall
co-operate in completing any procedural formalities necessary for that Obligor
to obtain authorisation to make that payment without a Tax Deduction.
 

(i)
In the event that an Obligor changes its country of residence and a Tax
Deduction is imposed by the new country of residence, that Obligor shall pay
such additional amounts to ensure that the amounts received by the Facilities
Agent and each Lender are no less than the amounts the Facilities Agent and each
Lender would have received but for such change of country of residence by that
Obligor provided always that the Obligor shall not be obliged to pay such
additional amounts to the extent that such additional amounts would not have
been payable under this paragraph had each Lender remained a Qualifying Lender.
 

  17.18 Tax indemnity    

(a)
Except as provided below, the Company must indemnify a Finance Party against any
loss or liability which that Finance Party acting reasonably determines will be
or has been suffered (directly or indirectly) by that Finance Party for or on
account of Tax in relation to a payment received or receivable (or any payment
deemed to be received or receivable) under a Finance Document.
  (b)
Paragraph (a) above does not apply to any Tax assessed on a Finance Party under
the laws of the jurisdiction in which:
 

(i)
that Finance Party is incorporated or, if different, the jurisdiction (or
jurisdictions) in which that Finance Party is treated as resident for tax
purposes; or
  (ii)
that Finance Party’s Facility Office is located in respect of amounts received
or receivable in that jurisdiction,
 

 
if that Tax is imposed on or calculated by reference to the net income received
or receivable by that Finance Party. However, any payment deemed to be received
or receivable, including any amount treated as income but not actually received
by

23

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the Finance Party, such as a Tax Deduction, will not be treated as net income
received or receivable for this purpose.
 

  (c)
Paragraph (a) above does not apply to the extent a loss, liability or cost:
   

(i)
is compensated for by any increased payment under clause 17.17 (Tax gross-up);
or
  (ii)
would have been compensated for by an increased payment under clause 17.17 (Tax
gross-up) but was not so compensated solely because of the exclusion in clause
17.17(d) or the proviso to clause 17.17(i) applied.
 

(d)
Each Finance Party considered a Non-Spanish Lender shall, on or prior to the
date of the First Amendment Agreement in the case of each Existing Lender as at
the date of the first Amendment Agreement, on the date of the assignment or
transfer pursuant to which it becomes a Lender in the case of each New Lender,
after the date of the First Amendment Agreement and any other Finance Party, (as
the terms “Existing Lender” and “New Lender” are defined in clause 28) and from
time to time thereafter as reasonably requested in writing by a Spanish Borrower
(but only so long thereafter as such Finance Party remains lawfully able to do
so), provide each of the Facilities Agent and each Spanish Borrower with an
original certificate issued by the competent authority of the taxing
jurisdiction in which such Finance Party is resident certifying the residence of
such Finance Party in such taxing jurisdiction within the meaning of the Treaty
of such jurisdiction with the Kingdom of Spain, with the result that such
Finance Party is exempt from Spanish withholding tax under such Treaty on
payments pursuant to a Finance Document.
 

 
If no documentation is provided or the documentation provided by a Finance Party
does not comply with the necessary requirements under Spanish law to ensure that
no Spanish tax shall be withheld on payments made hereunder, any obligation to
gross up in respect of withholding tax shall be considered excluded from the tax
indemnity described under paragraph (a) above.
   
Each Obligor which makes a payment to which a Finance Party is entitled shall
co-operate in completing any procedural formalities necessary for that Obligor
to obtain authorisation to make that payment without a Tax Deduction.
 

(e)
A Finance Party making, or intending to make, a claim under paragraph (a) above
must promptly notify the Company of the event which will give, or has given,
rise to the claim.
 

  17.19 Tax Credit

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(a)
Where any payment has been made subject to a Tax Deduction, a Finance Party
agrees to use its commercially reasonable endeavours to complete any procedural
formalities necessary for the relevant Finance Party to obtain any Tax Credit
available as a result of the payment being made subject to a Tax Deduction.
  (b)
If an Obligor makes a Tax Payment and the relevant Finance Party in its absolute
discretion determines that:
 

(i)
a Tax Credit is attributable either to an increased payment of which that Tax
Payment forms part, or to that Tax Payment; and
  (ii)
it has used and retained that Tax Credit (on a consolidated basis if relevant to
the determination of its allowable credit for foreign taxes paid or accrued),
 

 
the Finance Party must pay an amount to the Obligor which that Finance Party
determines will leave it (after that payment) in the same after-Tax position as
it would have been in if the Tax Payment had not been required to be made by the
Obligor.
 

  17.20 Stamp taxes    

 
The Company must pay and indemnify each Finance Party against any stamp duty,
registration or other similar Tax payable in connection with the entry into,
performance or enforcement of any Finance Document, except for any such Tax
payable in connection with the entry into a Transfer Certificate.
 

  17.21 Value added taxes    

(a)
Any amount (including costs and expenses) payable under a Finance Document by an
Obligor is exclusive of any value added tax or any other Tax of a similar nature
which might be chargeable in connection with that amount. If any such Tax is
chargeable, the Obligor must pay to the Finance Party (in addition to and at the
same time as paying that amount) an amount equal to the amount of that Tax (and
such Finance Party shall as soon as reasonably practicable provide an
appropriate value added tax invoice to the Obligor).
  (b)
If VAT is chargeable on any supply made by any Finance Party (the “Supplier”) to
any other Finance Party (the “Recipient”) in connection with a Finance Document,
and any Party is required by the terms of any Finance Document to pay an amount
equal to the consideration for such supply to the Supplier, such Party shall
also pay to the Supplier (in addition to and at the same time as paying such
amount) an amount equal to the amount of such VAT. The Supplier shall promptly
pay to the relevant Finance Party an amount equal to any credit or repayment
from the

25

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relevant tax authority which it reasonably determines related to the VAT
chargeable on that supply.
 

(c)
Where a Finance Document requires any Party to reimburse a Finance Party for any
costs or expenses, that Party shall also at the same time pay and indemnify the
Finance Party against all VAT incurred by the Finance Party in respect of the
costs or expenses to the extent that the Finance Party reasonably determines
that it is not entitled to credit or repayment from the relevant tax authority
in respect of the VAT.”
 

48
In new clause 17.22 the reference “17.16 to 17.21” shall be replaced by the
reference “17.22 to 17.27”.
  49
In new clause 17.24 (c) the reference to clause 17.17 shall be replaced by to
clause 17.23.
    50 Clause 22.4(f) shall be deleted and shall be replaced as follows:    

 
“any amendment, supplement, extension, restatement (however fundamental and
whether or not more onerous) or replacement of any Finance Document or any other
document or security including without limitation any change in the purpose of,
any extension of or any increase in, any facility or the addition of any new
facility under any Finance Document or other document or security;”
  51
In clause 23.9.1 the words “holding company, affiliate and subsidiary company
have the meanings given to them in the United States Public Utility Holding
Company Act of 1935” shall be deleted.
    52 Clause 23.9.2 (a) shall be deleted and the subsequent numbering altered
accordingly.    

53
In clause 27.7 the words “, in relation to any Carnival Material Group Member
incorporated in Spain, is insolvent (within the meaning of Article 2 of the
Spanish Insolvency Law) or” shall be inserted after the words “Italian
Insolvency Law) or”.
    54 In clause 27.13.1:    

(a) the word “and” shall be deleted in the second line and replaced by a comma;
and   (b)
the words “and the Total Tranche D Commitments” shall be inserted after the
words “the Total Tranche C Commitments”.

    55 In clause 27.13.2:     (a)
the word “and” shall be deleted after the words “Total Tranche B Commitments”
and replaced by a comma; and

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(b)
the words “and the Total Tranche D Commitments” shall be inserted after the
words “Total Tranche C Commitments.”
 

56
In clause 28.1.1 the words “Tranche B Lender” shall be deleted and replaced by
the words “Lender under Tranche B or Tranche D”.
    57 In clause 28.5.2:    

(a)
the words “and/or” after the words “Tranche B Commitments” shall be deleted and
replaced by a comma; and
  (b)
the words “and/or Tranche D Commitment” shall be inserted after the words
“Tranche C Commitment”.

    58 Clause 28.5.3 shall be deleted and shall be replaced by the following:  
   
“A Swingline Lender may only assign or transfer all or any (the “Swingline
Commitment Transfer Amount”) of its Swingline Tranche A Commitment, its
Swingline Tranche B Commitment, its Swingline Tranche C Commitment or its
Swingline Tranche D Commitment to a Lender which is not its Affiliate if it or,
where it does not have a Tranche A Commitment, Tranche B Commitment, Tranche C
Commitment or Tranche D Commitment, its Affiliate, transfers simultaneously to
that proposed Lender or that proposed Lender’s Affiliate an amount equal to or
greater than the Swingline Commitment Transfer Amount of its (or its
Affiliate’s) Tranche A Commitment, its (or its Affiliate’s) Tranche B
Commitment, its (or its Affiliate’s) Tranche C Commitment or its (or its
Affiliate’s) Tranche D Commitment, as the case may be, and in any event in
accordance with the other terms of this clause 28.”
    59 In clause 29.2.1 the word “wholly” shall be replaced by the word
“majority”.    

60
In clause 29.2.1(e) the full stop shall be deleted and the words “, except in
the case of the document referred to in paragraph 9 Part 2 of Schedule 2, which
an Additional Borrower incorporated in Spain shall only be required to provide
prior to the Utilisation by such Additional Borrower.” shall be added at the end
of the sub-paragraph.
  61
In clause 29.3.3 each occurrence of the word “wholly” shall be replaced by the
word “majority”.
    62 In clause 35.2 each occurrence of “33133” shall be replaced by “33178”.  
  63 In clause 35.2.1 a new sub-paragraph (g) shall be inserted as follows:    

 
“in the case of Societa Di Crociere Mercurio S.r.l. that identified with its
name below;”,
    and the subsequent numbering altered accordingly.     64 In new clause
35.2.1(h):

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(a)
the word “or” shall be deleted after the word “Lender” and replaced with a
comma; and
  (b)
the words “or any Additional Borrower” shall be inserted after the words
Original Obligor.

    65 A new clause 35.2.9 shall be inserted as follows:       “The contact
details of Societa di Crociere Mercurio S.r.l for this purpose are:     Address:
  Societa di Crociere Mercurio S.r.l., Via XII Ottobre 2, 16121, Genoa, Italy  
  Fax number:   + 39 010 548 3446     Attention:  Beniamino Maltese     with a
copy to:     Address:   Carnival Corporation, 3655 NW 87th Avenue, Miami,
Florida 33178     Fax number:   + 1 305 406 6480     Attention:  Treasurer; and
    Address:  Carnival Corporation, 3655 NW 87th Avenue, Miami, Florida 33178  
  Fax number:   +1 305 406 4758     Attention:  General Counsel”

    66 A new clause 39.1.3 shall be inserted as follows:      
“Each Obligor (other than the Company, Costa Crociere S.p.A., Societa di
Crociere Mercurio S.r.l. and any other Obligor incorporated in Italy) agrees to
any such amendment or waiver permitted by this clause 39 which is agreed to by
the Company in its capacity as Obligors’ Agent. This includes any amendment or
waiver which would, but for this clause 39.1.3, require the consent of both of
the Guarantors.”
    67 In clause 39.2.1(d):    

(a)
the words “and/or” after the words “Tranche B Commitment” shall be deleted and
replaced by a comma; and
  (b)
the words “and/or Tranche D Commitment” shall be inserted after the words
“Tranche C Commitment”.
    68 Clause 42.3 shall be deleted and replaced with the following:

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“EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES TRIAL BY JURY IN ANY
ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OF THE FINANCE
DOCUMENTS.”
    69 In clause 43 the word “Patriot” shall be deleted and replace by the word
“PATRIOT”.    

70
In clause 44 the words “(as of 21 October 2005)” shall be inserted after the
first and penultimate occurrence of the word “Agreement” in that clause.
  71
In Part 1 of Schedule 1, the figure “365.364.504,00” in paragraph 1, shall be
replaced by the figure “390,562,056.00”.
    72 The following wording shall be inserted into Part 1 of Schedule 1 after
paragraph 4:       “The Additional Borrowers as at the date of the First
Amendment Agreement

   
Societa di Crociere Mercurio S.r.l. (a company organised and existing under the
laws of Italy as a societa a responsabilita limitata con unico socio, with fully
paid-up corporate capital equal to Euro 216,000,000.00 having its registered
office in Genoa (Italy), via XII Ottobre 2, registered with the Companies’
Register (Registro delle Imprese) of Genoa under no. 01709000994, Repertorio
Economico Amministrativo no. 429590)”
    73 Part 2 of Schedule 1 shall be deleted and shall be replaced by the
following:     The Original Lenders - Loan Commitments    

  (a)        Tranche A Commitment

     Name of Original Lender   Amount (USD)        Bank of America, N.A.  
22,063,719.15     Barclays Bank PLC   22,063,719.15     JPMorgan Chase Bank,
N.A.   22,063,719.15     The Royal Bank of Scotland plc   22,063,719.14     BNP
Paribas   22,063,719.15     Intesa Sanpaolo S.p.A.   39,714,694.48     Citibank,
N.A.   17,650,975.33     Deutsche Bank AG London Branch   17,650,975.33     KfW
  27,840,913.74     HSBC Bank plc   17,650,975.33  

29

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  Lloyds TSB Bank plc   27,840,913.74     Mizuho Corporate Bank. Ltd.,  
61,662,093.04     Banca di Roma - London Branch   17,650,975.33     Banca
Nazionale del Lavoro SpA, New York Branch   17,650,975.33     Merrill Lynch Bank
USA   61,662,093.04     Societe Generale   17,650,975.33     SunTrust Bank  
61,662,093.04     UBS Limited   61,662,093.04     UniCredito Italiano - New York
Branch   39,093,403.80     Australia and New Zealand Banking Group Limited  
30,831,046.51     Banco Bilbao Vizcaya Argentaria S.A.   8,825,487.65    
Commerzbank Aktiengesellschaft   8,825,487.65     DnB NOR Bank ASA  
30,831,046.51     National Australia Bank Limited   30,831,046.51     Sumitomo
Mitsui Banking Corporation, New York Branch   30,831,046.51     US Bank, N.A.  
30,831,046.51     Wells Fargo Bank, National Association   30,831,046.51      
Total 800,000,000  

      (b)        Tranche B Commitment      

  Name of Original Lender   Amount (euro)        Bank of America, N.A.  
30,303,030.30     Barclays Bank PLC   30,303,030.30     JPMorgan Chase Bank,
N.A.   30,303,030.30     The Royal Bank of Scotland plc   30,303,030.30     BNP
Paribas   30,303,030.30     Intesa Sanpaolo S.p.A.   54,545,454.54     Citibank,
N.A. - Milan Branch   24,242,424.24  

30

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  Deutsche Bank SpA   24,242,424.24     KfW   0     HSBC Bank plc  
24,242,424.24     Lloyds TSB Bank plc   0     Mizuho Corporate Bank. Ltd.,   0  
  Banca di Roma - London Branch   24,242,424.24     Banca Nazionale del Lavoro
SpA, New York Branch   24,242,424.24     Merrill Lynch Bank USA   0     Societe
Generale   24,242,424.24     SunTrust Bank   0     UBS Limited   0    
UniCredito Italiano - New York Branch   24,242,424.24     Australia and New
Zealand Banking Group Limited   0     Banco Bilbao Vizcaya Argentaria S.A.  
12,121,212.12     Commerzbank Aktiengesellschaft   12,121,212.12     DnB NOR
Bank ASA   0     National Australia Bank Limited   0     Sumitomo Mitsui Banking
Corporation, New York Branch   0     US Bank, N.A.   0     Wells Fargo Bank,
National Association   0       Total 400,000,000  

      (c)         Tranche C Commitment      

  Name of Original Lender   Amount (Sterling)        Bank of America, N.A.  
8,144,459.13     Barclays Bank PLC   8,144,459.13     JPMorgan Chase Bank, N.A.
  8,144,459.13     The Royal Bank of Scotland plc   8,144,459.13  

31

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  BNP Paribas   8,144,459.13     Intesa Sanpaolo S.p.A.   14,660,026.43    
Citibank, N.A.   6,515,567.30     Deutsche Bank AG London Branch   6,515,567.30
    KfW   10,277,015.50     HSBC Bank plc   6,515,567.30     Lloyds TSB Bank plc
  10,277,015.50     Mizuho Corporate Bank. Ltd.,   10,277,015.50     Banca di
Roma - London Branch   6,515,567.30     Banca Nazionale del Lavoro SpA, New York
Branch   6,515,567.30     Merrill Lynch Bank USA   10,277,015.50     Societe
Generale   6,515,567.30     SunTrust Bank   10,277,015.50     UBS Limited  
10,277,015.50     UniCredito Italiano - New York Branch   6,515,567.30    
Australia and New Zealand Banking Group Limited   5,138,507.75     Banco Bilbao
Vizcaya Argentaria S.A.   3,257,783.65     Commerzbank Aktiengesellschaft  
3,257,783.65     DnB NOR Bank ASA   5,138,507.75     National Australia Bank
Limited   5,138,507.75     Sumitomo Mitsui Banking Corporation, New York Branch
  5,138,507.75     US Bank, N.A.   5,138,507.75     Wells Fargo Bank, National
Association   5,138,507.75       Total 200,000,000  

  (d)        Tranche D Commitment      

  Name of Original Lender   Amount (USD)        Bank of America, N.A./Banc of
America Securities Limited   26,803,035.60  

32

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  Barclays Bank PLC   26,803,035.60     JP Morgan Europe Limited   26,803,035.60
    The Royal Bank of Scotland plc   26,803,035.61     BNP Paribas  
26,803,035.60     Intesa Sanpaolo S.p.A.   48,245,464.07     Citibank
International plc, Madrid Branch   21,442,428.47     Deutsche Bank AG, London
Branch   21,442,428.47     KfW   33,821,179.30     HSBC Bank plc   21,442,428.47
    Lloyds TSB Bank plc   33,821,179.30     Banca di Roma, London Branch  
21,442,428.47     Banca Nazionale del Lavoro SpA, New York Branch  
21,442,428.47     Societe Generale   21,442,428.47     Banco Bilbao Vizcaya
Argentaria S.A.   10,721,214.25     Commerzbank Aktiengesellschaft  
10,721,214.25       Total 400,000,000.00  

    74 Part 4 of Schedule 1 shall be deleted and shall be replaced by the
following:     The Original Swingline Lenders - Swingline Loan Commitments      
(a)        Swingline Tranche A Commitment      

  Name of Original Swingline Lender   Amount (USD)        Bank of America, N.A.
  22,063,719.15     Barclays Bank PLC   22,063,719.15     JPMorgan Chase Bank,
N.A.   22,063,719.15     The Royal Bank of Scotland plc   22,063,719.14     BNP
Paribas   22,063,719.15     Intesa Sanpaolo S.p.A.   39,714,694.48  

33

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  Citibank, N.A.   17,650,975.33     Deutsche Bank AG New York Branch  
17,650,975.33     HSBC Bank plc   17,650,975.33     Lloyds TSB Bank plc  
27,840,913.74     Mizuho Corporate Bank, Ltd.   61,511,133.70     Banca di Roma
- London Branch   17,650,975.33     Societe Generale   17,650,975.33     UBS
Loan Finance LLC   61,511,133.70     Banco Bilbao Vizcaya Argentaria S.A.  
8,825,487.65     Commerzbank Aktiengesellschaft   8,825,487.65       Total
406,802,323.31  

      (b)        Swingline Tranche B Commitment      

  Name of Original Swingline Lender   Amount (euro)        Bank of America, N.A.
  30,172,413.79     Barclays Bank PLC   30,172,413.79     JPMorgan Chase Bank,
N.A.   30,172,413.79     The Royal Bank of Scotland plc   30,172,413.79     BNP
Paribas   30,172,413.79     Intesa Sanpaolo S.p.A.   54,310,344.82     Citibank,
N.A. - Milan Branch   24,137,931.03     Deutsche Bank SpA   24,137,931.03    
KfW   0     HSBC Bank plc   24,137,931.03     Lloyds TSB Bank plc   0     Mizuho
Corporate Bank. Ltd.,   0     Banca di Roma - London Branch   24,137,931.03    
Banca Nazionale del Lavoro SpA, New York Branch   0     Merrill Lynch Bank USA  
0  

34

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  Societe Generale   24,137,931.03     SunTrust Bank   0     UBS Limited   0    
UniCredito Italiano - New York Branch   0     Australia and New Zealand Banking
Group Limited   0     Banco Bilbao Vizcaya Argentaria S.A.   12,068,965.52    
Commerzbank Aktiengesellschaft   12,068,965.52     DnB NOR Bank ASA   0    
National Australia Bank Limited   0     Sumitomo Mitsui Banking Corporation, New
York Branch   0     US Bank, N.A.   0     Wells Fargo Bank, National Association
  0       Total 350,000,000  

      (c)        Swingline Tranche C Commitment      

  Name of Original Swingline Lender   Amount (Sterling)        Bank of America,
N.A.   8,124,520.10     Barclays Bank PLC   8,124,520.10     JPMorgan Chase
Bank, N.A.   8,124,520.10     The Royal Bank of Scotland plc   8,124,520.10    
BNP Paribas   8,124,520.10     Intesa Sanpaolo S.p.A.   14,624,136.18    
Citibank, N.A.   6,499,616.08     Deutsche Bank AG London Branch   6,499,616.08
    KfW   0     HSBC Bank plc   6,499,616.08     Lloyds TSB Bank plc  
10,251,855.62     Mizuho Corporate Bank, Ltd.   10,251,855.62  

35

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  Banca di Roma - London Branch   6,499,616.08     Banca Nazionale del Lavoro
SpA, New York Branch   0     Merrill Lynch Bank USA   0     Societe Generale  
6,499,616.08     SunTrust Bank   0     UBS Limited   10,251,855.62    
UniCredito Italiano - New York Branch   0     Australia and New Zealand Banking
Group Limited   0     Banco Bilbao Vizcaya Argentaria S.A.   3,249,808.04    
Commerzbank Aktiengesellschaft   3,249,808.04     DnB NOR Bank ASA   0    
National Australia Bank Limited   0     Sumitomo Mitsui Banking Corporation, New
York Branch   0     US Bank, N.A.   0     Wells Fargo Bank, National Association
  0       Total 125,000,000  

 

(d)        Swingline Tranche D Commitment

  

  Name of Original Swingline Lender   Amount (USD)         Bank of America, N.A.
  26,683,401.45     Barclays Bank PLC   26,683,401.45     JP Morgan Europe
Limited   26,683,401.45     The Royal Bank of Scotland plc   26,683,401.46    
BNP Paribas   26,683,401.45     Intesa Sanpaolo S.p.A.   48,030,122.59    
Citibank International plc, Madrid Branch   21,346,721.14     Deutsche Bank AG
New York Branch   21,346,721.14     HSBC Bank plc   21,346,721.14  

36

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  Lloyds TSB Bank plc   33,670,219.96     Banca di Roma - London Branch  
21,346,721.14     Societe Generale   21,346,721.14     Banco Bilbao Vizcaya
Argentaria S.A.   10,673,360.59     Commerzbank Aktiengesellschaft  
10,673,360.59       Total 343,197,676.69  

    75
In Part 5 of Schedule 1 the words “SANPAOLO IMI S.P.A.” shall be replaced by
“Intesa Sanpaolo S.p.A.”.
    76 In Part 2 of Schedule 2:    

(a)
in paragraph 5(a) the words “and in the case of a Spanish Borrower, utilising
the Total Tranche D Commitments” shall be inserted after the second occurrence
of the words “Total Tranche B Commitments”;
  (b)
in paragraph 6 the word “Sintensi” shall be replaced by the word “Sintesi”; and
  (c)
new paragraphs 8 and 9 shall be inserted as follows and the subsequent numbering
altered accordingly:
 

“8
If the proposed Additional Borrower is incorporated in Spain, a statement (nota
simple) issued by the relevant Companies Register (Registro Mercantil) in
respect of such Additional Borrower.
  9
If the proposed Additional Borrower is incorporated in Spain, a copy of the PE-1
form duly filed with the Bank of Spain confirming the Financial Transaction
Number (NOF) in relation to such Additional Borrower (if applicable) to be
provided only prior to the first Utilisation by a Spanish Borrower.”

  77 In Schedule 3:     (a)
in Part 1 “/D” shall be inserted after “A/B/C” shall be inserted in paragraph 2;
  (b)
in Part 3 “/D” shall be inserted after “A/B/C” in paragraph 1; and
  (c)
in Part 3 “/Tranche D” shall be inserted after the words “Tranche C” in
paragraph 1.
    78
In Schedule 10, Part III the words “and Tranche D” shall be inserted after
“Tranche A”.

37

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SIGNATORIES

CARNIVAL CORPORATION

By: /s/   DAVID BERNSTEIN, SENIOR VICE PRESIDENT & CFO

CARNIVAL PLC

By: /s/   DAVID BERNSTEIN, SENIOR VICE PRESIDENT & CFO

COSTA CROCIERE S.p.A.

By: /s/   DAVID BERNSTEIN, ATTORNEY-IN-FACT

CC U.S. VENTURES, INC.

By: /s/   DAVID BERNSTEIN, AUTHORIZED REPRESENTATIVE

Oral agreements or oral commitments to loan money, extend credit, or to forbear
from enforcing repayment of a debt are not enforceable under Washington law.

HOLLAND AMERICA LINE INC.

By: /s/   DAVID BERNSTEIN, AUTHORISED REPRESENTATIVE

PRINCESS CRUISES AND TOURS, INC.

By: /s/   DAVID BERNSTEIN, AUTHORISED REPRESENTATIVE

SOCIETA DI CROCIERE MERCURIO S.r.l.

By: /s/   DAVID BERNSTEIN, ATTORNEY-IN-FACT

Guarantors

CARNIVAL CORPORATION

By: /s/   DAVID BERNSTEIN, SENIOR VICE PRESIDENT & CFO

38

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CARNIVAL PLC

By: /s/   DAVID BERNSTEIN, SENIOR VICE PRESIDENT & CFO

39

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Arrangers

BANK OF AMERICA SECURITIES LIMITED

By: /s/   KEITH THOMAS

BARCLAYS CAPITAL

By: /s/   GILL CLARKE

BNP PARIBAS   By: /s/   STEVE DURANTI     /s/  ALASDAIR MACLEOD      

J.P. MORGAN PLC

By: /s/   KARL OLSEN

INTESA SANPAOLO S.p.A.     By: /s/   MELINDA J. HARRIS   /s/  ANDREW HURST      
  THE ROYAL BANK OF SCOTLAND PLC       By: /s/   MAXINE SANDERS  /s/  PAUL
FLETCHER      

Lenders

Tranche A

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

40

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JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A.

By: /s/   ROBERT MALLECK

DEUTSCHE BANK AG LONDON BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN
ARZUMANYAN     KfW   By: /s/   CLARE DOOLEY  /s/  S. POPPERMAIER    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

MIZUHO CORPORATE BANK, LTD.

By: /s/   KEVIN ANDREWS

41

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BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF    
BANCA NAZIONALE DEL LAVORO SpA, NEW YORK BRANCH   By: /s/   ELISA
GIULIANO-ZUCARO  /s/  ANTONIO LABRIOLA    

MERRILL LYNCH BANK USA

By: /s/   BUTCH ALDER

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

SUNTRUST BANK

By: /s/   WILLIAM C. BARR

UBS LIMITED   By: /s/   ALAN GREENHOW  /s/  ANDREW SUDLOW     UNICREDITO
ITALIANO - NEW YORK BRANCH   By: /s/   NICOLA LONGO DENTE   /s/   SAIYED A.
ABBAS     AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED   By: /s/   GARY
POWELL  /s/  ANA ARXER     BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/
  PEDRO CAYUELA  /s/  MARIA NARDINI     COMMERZBANK AKTIENGESELLSCHAFT   By: /s/
  SIEGFRIED HOFFMAN  /s/  CHRISTIAN RONGSTOCK

42

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DnB NOR BANK ASA   By: /s/   SANJIV NAYAR  /s/  CATHLEEN BUCKLEY    

NATIONAL AUSTRALIA BANK LIMITED (ABN 12 004 044 937)

By: /s/   NATALIE AMBER CLIFFE

SUMITOMO MITSUI BANKING CORPORATION, NEW YORK BRANCH

By: /s/   YOSHIHIRO HYAKUTOME

US BANK, N.A.

By: /s/   PATRICK MCGRAW

WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/   ALEX IDICHANDY

    Tranche B    

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

43

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THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A. - MILAN BRANCH

By: /s/   ROBERT MALLECK

DEUTSCHE BANK SpA   By: /s/   RICHARD SEDLACEK  /s/  KAREN ARZUMANYAN    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF    
BANCA NAZIONALE DEL LAVORO SpA, NEW YORK BRANCH   By: /s/   ELISA
GIULIANO-ZUCARO  /s/  ANTONIO LABRIOLA    

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

UNICREDITO ITALIANO - NEW YORK BRANCH  

By: /s/   NICOLA LONGO DENTE  

/s/   SAIYED A. ABBAS

44

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BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/   PEDRO CAYUELA  /s/  MARIA
NARDINI     COMMERZBANK AKTIENGESELLSCHAFT   By: /s/   SIEGFRIED HOFFMAN  /s/
 CHRISTIAN RONGSTOCK     Tranche C    

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A.

By: /s/   ROBERT MALLECK

45

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DEUTSCHE BANK AG LONDON BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN
ARZUMANYAN     KfW   By: /s/   CLARE DOOLEY  /s/  S. POPPERMAIER    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

MIZUHO CORPORATE BANK, LTD.

By: /s/   KEVIN ANDREWS

BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF    
BANCA NAZIONALE DEL LAVORO SpA, NEW YORK BRANCH   By: /s/   ELISE
GIULIANO-ZUCARO  /s/  ANTONIO LABRIOLA    

MERRILL LYNCH BANK USA

By: /s/   BUTCH ALDER

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

SUNTRUST BANK

By: /s/   WILLIAM C. BARR

46

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UBS LIMITED   By: /s/   ALAN GREENHOW  /s/  ANDREW SUDLOW     UNICREDITO
ITALIANO - NEW YORK BRANCH   By: /s/   NICOLA LONGO DENTE   /s/   SAIYED A.
ABBAS     AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED   By: /s/   GARY
POWELL  /s/  ANA ARXER     BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/
  PEDRO CAYUELA  /s/  MARIA NARDINI     COMMERZBANK AKTIENGESELLSCHAFT   By: /s/
  SIEGFRIED HOFFMAN  /s/  CHRISTIAN RONGSTOCK     DnB NOR BANK ASA   By: /s/
  SANJIV NAYAR  /s/  CATHLEEN BUCKLEY       NATIONAL AUSTRALIA BANK LIMITED (ABN
12 004 044 937)   By: /s/   NATALIE AMBER CLIFFE     SUMITOMO MITSUI BANKING
CORPORATION, NEW YORK BRANCH   By: /s/   YOSHIHIRO HYAKUTOME     US BANK, N.A.  
By: /s/   PATRICK MCGRAW     WELLS FARGO BANK, NATIONAL ASSOCIATION  

By: /s/   ALEX IDICHANDY

47

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Tranche D

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BANC OF AMERICA SECURITIES LIMITED

By: /s/   KEITH THOMAS

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN EUROPE LIMITED

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J.HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A.

By: /s/   ROBERT MALLECK

DEUTSCHE BANK AG LONDON BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN
ARZUMANYAN     KfW    

By: /s/   CLARE DOOLEY 

/s/  S. POPPERMAIER

48

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HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF    
BANCA NAZIONALE DEL LAVORO SpA, NEW YORK BRANCH   By: /s/   ELISA
GIULIANO-ZUCARO  /s/  ANTONIO LABRIOLA    

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/   PEDRO CAYUELA  /s/  MARIA
NARDINI     COMMERZBANK AKTIENGESELLSCHAFT   By: /s/   SIEGFRIED HOFFMAN  /s/
 CHRISTIAN RONGSTOCK    

Swingline Lenders

Swingline Tranche A

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

49

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JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A.

By: /s/   ROBERT MALLECK

DEUTSCHE BANK AG NEW YORK BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN
ARZUMANYAN    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

MIZUHO CORPORATE BANK, LTD.

By: /s/   KEVIN ANDREWS

BANCA DI ROMA - LONDON BRANCH  

By: /s/   VINCENT WRIGHT 

/s/  PETER SCHARF

50

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SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

UBS LOAN FINANCE LLC   By: /s/   ALAN GREENHOW  /s/  ANDREW SUDLOW    

BANCO BILBAO VIZCAYA ARGENTARIA S.A.

By: /s/   PEDRO CAYUELA MARIA NARDINI

COMMERZBANK AKTIENGESELLSCHAFT   By: /s/   SIEGFRIED HOFFMAN  /s/  CHRISTIAN
RONGSTOCK    

Swingline Tranche B

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS  

By: /s/   STEVE DURANTI 

/s/  ALASDAIR MACLEOD

51

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INTESA SANPAOLO S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    

CITIBANK, N.A. - MILAN BRANCH

By:  /s/   ROBERT MALLECK

DEUTSCHE BANK SpA   By: /s/   RICHARD SEDLACEK  /s/  KAREN ARZUMANYAN    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

    BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF
   

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

    BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/   PEDRO CAYUELA  /s/  MARIA
NARDINI    

COMMERZBANK AKTIENGESELLSCHAFT

  By: /s/   SIEGFRIED HOFFMAN  /s/  CHRISTIAN RONGSTOCK    

Swingline Tranche C

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

52

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BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN CHASE BANK, N.A.

By: /s/   KARL OLSEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS   By: /s/   STEVE DURANTI  /s/  ALASDAIR MACLEOD     INTESA SANPAOLO
S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST     DEUTSCHE BANK AG
LONDON BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN ARZUMANYAN    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

MIZUHO CORPORATE BANK, LTD.

By: /s/   KEVIN ANDREWS

BANCA DI ROMA - LONDON BRANCH  

By: /s/   VINCENT WRIGHT 

/s/  PETER SCHARF

53

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SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

UBS LIMITED   By: /s/   ALAN GREENHOW  /s/  ANDREW SUDLOW     BANCO BILBAO
VIZCAYA ARGENTARIA S.A.   By: /s/   PEDRO CAYUELA  /s/  MARIA NARDINI    
COMMERZBANK AKTIENGESELLSCHAFT   By: /s/   SIEGFRIED HOFFMAN  /s/  CHRISTIAN
RONGSTOCK     CITIBANK INTERNATIONAL PLC, MADRID BRANCH  

By: /s/   JUAN CASAS CARDENAL

Swingline Tranche D

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

BARCLAYS BANK PLC

By: /s/   GILL CLARKE

JPMORGAN EUROPE LIMITED

By: /s/   KARL OLSEN  

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

BNP PARIBAS  

By: /s/   STEVE DURANTI 

/s/  ALASDAIR MACLEOD

54

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INTESA SANPAOLO S.p.A.   By: /s/   MELINDA J. HARRIS  /s/  ANDREW HURST    
DEUTSCHE BANK AG NEW YORK BRANCH   By: /s/   RICHARD SEDLACEK  /s/  KAREN
ARZUMANYAN    

HSBC BANK PLC

By: /s/   SIMON DEEFHOLTS

LLOYDS TSB BANK PLC

By: /s/   DAVID MOORE

BANCA DI ROMA - LONDON BRANCH   By: /s/   VINCENT WRIGHT  /s/  PETER SCHARF    

SOCIETE GENERALE

By: /s/   PATRICK MEAGHER

BANCO BILBAO VIZCAYA ARGENTARIA S.A.   By: /s/   PEDRO CAYUELA  /s/  MARIA
NARDINI     COMMERZBANK AKTIENGESELLSCHAFT   By: /s/   SIEGFRIED HOFFMAN  /s/
 CHRISTIAN RONGSTOCK    

CITIBANK INTERNATIONAL PLC, MADRID BRANCH

By: /s/   JUAN CASAS CARDENAL

55

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Facilities Agent

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   PAUL FLETCHER

Original Fronting Banks

BANK OF AMERICA, N.A.

By: /s/   JUSTIN LIEN

THE ROYAL BANK OF SCOTLAND PLC

By: /s/   MAXINE SANDERS

INTESA SANPAOLO S.p.A.  

By: /s/   MELINDA J. HARRIS 

/s/  ANDREW HURST

56

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