EXHIBIT 10.2

 

AMENDMENT NO. 2

 

TO

 

AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT NO. 2 dated as of July 22, 2004 (this “Amendment”), to the AMENDED AND
RESTATED CREDIT AGREEMENT dated as of October 9, 2003,  as amended by Amendment
No. 1 dated as of March 19, 2004 (as may be further amended, supplemented,
restated or otherwise modified from time to time, the “Credit Agreement”), among
Washington Group International, Inc., a Delaware corporation (the “Borrower”),
the Lenders and the Issuers party thereto from time to time and Credit Suisse
First Boston, as administrative agent for the Lenders and the issuers thereunder
(in such capacity, together with its successors in such capacity, the
“Administrative Agent”).  Unless otherwise specified herein, all capitalized
terms used in this Amendment shall have the meanings ascribed to them in the
Credit Agreement.

 

A.                                   The Borrower has requested that the
Administrative Agent and the Lenders agree to amend certain provisions of the
Credit Agreement.

 

B.                                     Pursuant to Section 11.1(a) of the Credit
Agreement, the consent of the Requisite Lenders is required to effect the
amendments set forth herein; provided that the amendments set forth herein
extending the scheduled maturity or reducing the rate of interest on any Loan or
Reimbursement Obligation outstanding or any fee payable under the Credit
Agreement shall also require the consent of each Lender in respect of which such
scheduled maturity is being extended or rate of interest on any Loan or
Reimbursement Obligation outstanding to such Lender or fee payable to such
Lender (including, in each case, any interest or fee ultimately payable to any
Tranche B Investor) is being reduced by the terms of this Amendment (in each
case, such Lenders or Tranche B Investors, the “Affected Lenders”).

 

C.                                     The Borrower, the Administrative Agent,
the Requisite Lenders and the Affected Lenders have agreed to amend the Credit
Agreement on the terms and subject to the conditions herein provided.

 

Accordingly, in consideration of the above premises, the Borrower and the
Administrative Agent, at the direction of the Requisite Lenders and the Affected
Lenders, agree as follows:

 

Section 2.                                            Amendments to the Credit
Agreement.  As of the Amendment No. 2 Effective Date (as defined below), the
Credit Agreement is hereby amended as follows:

 

(a)                                  by inserting the definition of “Amendment
No. 2” and “Amendment No. 2 Effective Date” in the appropriate alphabetical
order in Section 1.1 (Defined Terms) of the Credit Agreement, each to read in
its entirety as follows:

 

“ “Amendment No. 2” means Amendment No. 2 to this Agreement, dated as of July
22, 2004, among the Borrower, the Lenders the Administrative Agent, the
Documentation Agent and the Syndication Agent.

 

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“Amendment No. 2 Effective Date” has the meaning ascribed to such term in
Amendment No. 2.”

 

(b)                                 by deleting the definition of the term
“Capital Expenditures” in Section 1.1 (Defined Terms) of the Credit Agreement in
its entirety and inserting in lieu thereof the following:

 

“ “Capital Expenditures” means, with respect to any Person for any period, (a)
the aggregate of amounts that would be reflected as additions to property, plant
or equipment on a consolidated balance sheet of such Person and its Subsidiaries
prepared in conformity with GAAP, excluding interest capitalized during
construction less (b) the aggregate of such amounts used to acquire replacement
assets useful in the Borrower’s business (x) in connection with a Reinvestment
Event as permitted under Section 2.9 (Mandatory Prepayments) or (y) to the
extent such amounts arose from a sale or disposition of equipment described in
Section 8.4(c) (Sale of Assets) of the Credit Agreement; provided, however, that
the Capital Expenditures of the Borrower shall (i) include the Capital
Expenditures of Permitted Joint Ventures and non- Wholly-Owned Subsidiaries only
to the extent of the aggregate direct and indirect interest therein of the
Borrower, any other Loan Party and any Wholly-Owned Subsidiary of any of them
and (ii) exclude Capital Expenditures by Permitted Joint Ventures or
non-Wholly-Owned Subsidiaries to the extent made from proceeds of Non-Recourse
Indebtedness of such Permitted Joint Ventures or non-Wholly-Owned Subsidiaries.”

 

(c)                                  by deleting the amounts “$25,000,000” and
“$75,000,000” from clause (d) of the definition of the term “Permitted
Acquisition” in Section 1.1 (Defined Terms) of the Credit Agreement and
substituting therefor the amounts “$30,000,000” and “$80,000,000”, respectively.

 

(d)                                 by inserting the words “except where such
joint venture has incurred Non-Recourse Indebtedness the terms of which either
(i) require security interests in such Stock, Stock Equivalents or other
interests to be granted to secure such Non-Recourse Indebtedness or (ii)
prohibit such a security interest to be granted to the Lenders” immediately
after the word “Subsidiaries” in the definition of the term “Permitted Joint
Ventures” in Section 1.1 (Defined Terms) of the Credit Agreement.

 

(e)                                  by deleting the definition of the term
“Scheduled Termination Date” in Section 1.1 (Defined Terms) of the Credit
Agreement in its entirety and inserting in lieu thereof the following:

 

“ “Scheduled Termination Date” means (i) with respect to the Tranche A Facility,
the fourth anniversary of the Effective Date and (ii) with respect to the
Tranche B Facility, the fourth anniversary of the Amendment No. 2 Effective
Date.”

 

(f)                                    by deleting clause(a) of Section 2.5
(Reduction and termination of the Commitments) of the Credit Agreement in its
entirety and inserting in lieu thereof the following:

 

“(a)                            The Borrower may, upon at least five Business
Days’ prior notice to the Administrative Agent, terminate in whole or reduce in
part the unused portions of the respective Commitments of the Lenders; provided,
however, that (i) each partial

 

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reduction shall be in an aggregate amount that is an integral multiple of
$5,000,000,   (ii) if at the time of such reduction, any Loans are outstanding,
each such reduction shall be made pro rata between the Tranche A Facility and
the Tranche B Facility, ratably in accordance with each Lender’s Commitment, and
(iii) if any such reduction is to be made in a non pro rata manner as between
the Tranche A Facility and the Tranche B Facility (a “Non Pro Rata Commitment
Reduction”) at a time when Letters of Credit are outstanding, then as a
condition to the effectiveness of such Non Pro Rata Commitment Reduction, the
Administrative Agent shall have received a certificate executed on behalf of the
Company by a Responsible Officer to the effect that, as of the date of such Non
Pro Rata Commitment Reduction, the statements set forth in clauses (b)(i) and
(b)(ii) of Section 3.2 (conditions Precedent to Each Loan and Letter of Credit)
are true and correct.  On and as of the date of any Non Pro Rata Commitment
Reduction, the Letter of Credit Undrawn Amounts at such time shall be
reallocated to the Lenders in accordance with their new respective Commitments.”

 

(g)                                 by deleting the reference to “50%” set forth
in Section 5.4 (Capital Expenditures) of the Credit Agreement and substituting
therefor a reference to “100%”.

 

(h)                                 by deleting the amount “$35,000,000” set
forth in Section 8.3(e) (Investments) of the Credit Agreement and substituting
therefore the amount “$50,000,000”.

 

(i)                                     by deleting Section 8.5(e) (Restricted
Payments) of the Credit Agreement in its entirety and substituting in lieu
thereof the following:

 

“(e)                            any redemption, retirement, sinking fund or
similar payment,    purchase or other acquisition for value, direct or indirect,
of any Stock or Stock Equivalents of the Borrower or any of its Subsidiaries or
any dividend, distribution or other payment, whether direct or indirect, on
account of any Stock or Stock Equivalents of the Borrower or any of its
Subsidiaries, provided, however, that (i) the aggregate amount of all such
Restricted Payments shall not exceed (x) $50,000,000 in any Fiscal Year and (y)
$100,000,000 from the Effective Date until the payment in full of the
Obligations and (ii) no such Restricted Payment may be made unless, at the time
thereof and after giving effect thereto and the source of funds therefor, the
Borrower and its consolidated Subsidiaries would have at least $150,000,000 of
cash and Cash Equivalents;”

 

(j)                                     by deleting Section 8.9 (Restrictions on
Subsidiary Distributions; No New Negative Pledge) of the Credit Agreement in its
entirety and substituting in lieu thereof the following:

 

“Section 8.9 Restrictions on Subsidiary Distributions; No New Negative Pledge

 

Other than pursuant to the Loan Documents and any agreements governing any
Non-Recourse Indebtedness, or any purchase money Indebtedness or Capital Lease
Obligations permitted by Section 8.1(b), (d) or (e) (Indebtedness) (in the case
of any such purchase money Indebtedness or Capital Lease Obligations, so long as
any prohibition or limitation is only effective against the assets financed
thereby), the Borrower shall not, and shall not permit any of its subsidiaries
to, (a) other than for Permitted Joint Ventures, agree to enter into or suffer
to exist or become effective any consensual encumbrance or restriction of any
kind on the ability of such Subsidiary to

 

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pay dividends or make any other distribution or transfer of funds or assets or
make loans or advances to or other Investments in, or pay any Indebtedness owed
to, the Borrower or any other Subsidiary of the Borrower or (b) enter into or
suffer to exist or become effective any enforceable agreement prohibiting or
limiting the ability of the Borrower or any Subsidiary to create, incur, assume
or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired to secure the Obligations, including any
agreement requiring any other Indebtedness or Contractual Obligation to be
equally and ratably secured with the Obligations.”

 

(k)                                  by deleting Schedule II to the Credit
Agreement in its entirety and substituting in lieu thereof the Amended and
Restated Schedule II attached hereto as Exhibit A.

 

Section 3.                                            Conditions to
Effectiveness.  This Amendment shall become effective as of the date (the
“Amendment No. 2 Effective Date”) on which the Administrative Agent shall have
received each of the following:

 

(a)                                  counterparts of this Amendment duly
executed by the Company, the Administrative Agent, the Requisite Lenders and the
Affected Lenders;

 

(b)                                 all fees and expenses required to be paid or
reimbursed by the Company pursuant to the Engagement Letter dated July 15, 2004,
between the Company and CSFB; and

 

(c)                                  such other items from the Loan Parties as
the Administrative Agent may reasonably request in writing.

 

Section 4.                                            Representations and
Warranties.  The Borrower hereby represents and warrants to the Lenders, the
Issuers, the Tranche B Investors and the Administrative Agent, with respect to
all Loan Parties, as follows:

 

(a)                                  After giving effect to this Amendment, each
of the representations and warranties in Article IV (Representations and
Warranties) of the Credit Agreement and in the other Loan Documents are true and
correct in all material respects on and as of the date hereof as though made on
and as of such date, except to the extent that any such representation or
warranty expressly relates to an earlier date and except for changes therein
expressly permitted by the Credit Agreement.

 

(b)                                 The Borrower reaffirms the Liens granted
pursuant to the Loan Documents to the Administrative Agent for the benefit of
the Lenders and the Issuers, which Liens shall continue in full force and effect
during the term of the Credit Agreement and any renewals thereof and shall
continue to secure the Obligations.

 

(c)                                  The execution, delivery and performance by
the Borrower of this Amendment have been duly authorized by all requisite
corporate or other action on the part of the Borrower and will not violate any
of the articles of incorporation or by-laws (or other constituent documents) of
the Borrower.

 

(d)                                 This Amendment has been duly executed and
delivered by the Borrower, and each of this Amendment and the Credit Agreement
as amended hereby constitutes the legal, valid and binding obligation of the
Borrower, enforceable against the Borrower in accordance with their terms.

 

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(e)                                  After giving effect to this Amendment, no
Default or Event of Default has occurred and is continuing as of the date
hereof.

 

Section 5.                                            Reference to and Effect on
the Loan Documents

 

(a)                                  As of the Amendment No. 2 Effective Date,
each reference in the Credit Agreement and the other Loan Documents to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean
and be a reference to the Credit Agreement as amended hereby.

 

(b)                                 Except to the extent amended hereby, the
Credit Agreement and all of the other Loan Documents shall remain in full force
and effect and are hereby ratified and confirmed.

 

(c)                                  The execution, delivery and effectiveness
of this Agreement shall not operate as a waiver of any Default or Event of
Default or any right, power, privilege or remedy of the Administrative Agent,
the Documentation Agent, the Syndication Agent any Lender or any Issuer under
the Credit Agreement or any Loan Document, or constitute a waiver of any
provision of the Credit Agreement or any Loan Document.

 

Section 6.                                            Governing Law.  This
Amendment and the rights and obligations of the parties hereto shall be governed
by, and construed and interpreted in accordance with, the law of the State of
New York.

 

Section 7.                                            Headings.  Section
headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purposes.

 

Section 8.                                            Counterparts.  This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the
same instrument.  Receipt by the Administrative Agent of a facsimile copy of an
executed signature page hereof shall constitute receipt by the Administrative
Agent of an executed counterpart of this Amendment.

 

[SIGNATURE PAGES FOLLOW]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

 

 

 

WASHINGTON GROUP INTERNATIONAL, INC.

 

  as Borrower

 

 

 

 

 

By:

     /s/ Earl L. Ward

 

 

 

Name:  Earl L. Ward

 

 

Title:  Treasurer & VP Investor Relations

 

 

 

 

 

CREDIT SUISSE FIRST BOSTON, ACTING
THROUGH ITS CAYMAN ISLANDS BRANCH

 

as Administrative Agent, Fronting Lender, Lender
and Issuer

 

 

 

 

 

By:

 

 

 

 

Name:

 

 

Title:

 

 

 

 

 

By:

 

 

 

 

Name:

 

 

Title:

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

 

 

 

WASHINGTON GROUP INTERNATIONAL, INC.

 

 

 

 

 

By:

 

 

 

 

Name:

 

 

Title:

 

 

 

 

 

CREDIT SUISSE FIRST BOSTON, ACTING
THROUGH ITS CAYMAN ISLANDS BRANCH,

 

as Administrative Agent, Fronting Lender, Lender
and Issuer

 

 

 

 

 

By:

         /s/ Jay Chall

 

 

 

Name:  Jay Chall

 

 

Title:   Director

 

 

 

 

 

By:

         /s/ Vanessa Gomez

 

 

 

Name:  Vanessa Gomez

 

 

Title: Associate

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Harch CLO’I. Ltd.

 

 

 

 

 

 

By:

 /s/ Michael E. Lewitt

 

Name:  Michael E. Lewitt

 

Title:   Authorized Signatory

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Oppenheimer Senior Floating Rate Fund

 

 

 

 

 

 

By:

   /s/ Lisa Chaffee

 

 

Name:  Lisa Chaffee

 

 

Title:   Manager

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

STONE TOWER CLO LTD.

 

 

 

 

 

 

By:

STONE TOWER DEBT ADVISORS LLC

 

its Collateral Manager

 

 

 

 

 

By:

  /s/ William J. Sheoris

 

Name:  William J. Sheoris

 

Title:   Authorized Signatory

 

10

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Foothill Income Trust, L.P.
by FIT GP, LLC, its General Partner

 

 

 

 

 

 

 

 

By:

  /s/ Dennis R. Ascher

 

 

Name:  Dennis Ascher

 

 

Title:   Managing Member

 

11

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

STANWICH LOAN FUNDING LLC

 

 

 

 

 

 

 

 

By:

  /s/ Meredith J. Koslick

 

 

Name:  Meredith J. Koslick

 

 

Title:  Assistant Vice President

 

12

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Bushnell CBNA Loan Funding LLC

 

 

 

 

 

 

By:

 /s/ T. Houghton

 

Name: Tim Houghton

 

Title:  Attorney-in-fact

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Trumball THC, Ltd.

 

 

 

 

 

 

By:

 /s/ T. Houghton

 

Name:  Tim Houghton

 

Title:  Attorney-in-fact

 

14

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

SRF 2000, INC.

 

 

 

 

 

 

 

 

By:

/s/ Meredith J. Koslick

 

Name:  Meredith J. Koslick

 

Title:  Assistant Vice President

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

SRF TRADING, INC.

 

 

 

 

 

 

 

 

By:

 /s/ Meredith J. Koslick

 

Name:  Meredith J. Koslick

 

Title:   Assistant Vice President

 

16

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

AURUM CLO 2002-1-LTD.

 

 

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

By: Columbia Management Advisors, Inc.
(f/k/a Stein Roe & Farnham Incorporated)
As Investment Manager

 

 

 

 

 

 

 

 

By:

 /s/ Thomas R. Bouchard

 

 

Name:  Thomas R. Bouchard

 

 

Title:  V.P.

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

   FRANKLIN TOTAL RETURN FUND

 

 

 

 

 

 

 

 

By:

 /s/ Richard Hsu

 

 

Name:  Richard Hsu

 

 

Title:   Vice President

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

FRANKLIN TEMPLETON
LIM. DURATION INCOME TRUST

 

 

 

 

 

 

By:

 /s/ Richard Hsu

 

Name:  Richard Hsu

 

Title:   Vice President

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

FRANKLIN FLOATING RATE
DAILY ACCESS FUND

 

 

 

 

 

 

 

 

By:

 /s/ Richard Hsu

 

 

Name:  Richard Hsu

 

 

Title:   Vice President

 

20

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Franklin Floating Rate Master Series

 

 

 

 

 

 

 

 

By:

 /s/ Richard Hsu

 

 

Name:  Richard Hsu

 

 

Title:   Vice President

 

21

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Franklin Floating Rate Trust

 

 

 

 

 

 

 

 

By:

 /s/ Richard Hsu

 

 

Name:  Richard Hsu

 

 

Title:    Vice President

 

22

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Close International Custody Services Limited as Custodian of

 

NAME OF LENDER/
TRANCHE B INVESTOR:

CYPRESSTREE INTERNATIONAL LOAN HOLDING
COMPANY LIMITED

 

 

 

 

 

 

By:

 /s/ Jeffrey Megar

 

Name:  Jeffrey Megar

 

Title:   Director

 

 

 

 

 

 /s/ Preston I. Carnes, Jr.

 

Preston I. Carnes, Jr.

 

Managing Director

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Hewitt’s Island CDO, Ltd.

 

NAME OF LENDER/
TRANCHE B INVESTOR:

By:

CypressTree Investment Management Company, Inc.
as Portfolio Manager.

 

 

 

 

By:

 /s/ Jeffrey Megar

 

Name:  Jeffrey Megar

 

Title:   Director

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

 

LaSalle Bank N.A.

 

 

 

 

 

 

 

 

By:

 /s/ Steve Trepicciome

 

 

Name:  Steve Trepicciome

 

 

Title:   FVP

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

 

XI. Re Ltd.

 

NAME OF LENDER/

 

By: Stanfield Capital Partners LLC

 

TRANCHE B INVESTOR:

 

as its Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Christopher A. Bondy

 

Name: Christopher A. Bondy

 

Title:   Partner

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

 

Stanfield CLO Ltd.

 

NAME OF LENDER/

 

By: Stanfield Capital Partners LLC

 

TRANCHE B INVESTOR:

 

as its Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Christopher A. Bondy

 

 

Name: Christopher A. Bondy

 

 

Title:   Partner

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

 

Stanfield/RFM Transatlantic CDO Ltd.

 

NAME OF LENDER/

 

By: Stanfield Capital Partners LLC

 

TRANCHE B INVESTOR:

 

as its Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Christopher A. Bondy

 

Name: Christopher A. Bondy

 

Title:  Partner

 

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

 

Windsor Loan Funding, Limited

 

NAME OF LENDER/

 

By:  Stanfield Capital Partners LLC

 

TRANCHE B INVESTOR:

 

as its Investment Manager

 

 

 

 

 

 

 

 

By:

 /s/ Christopher A. Bondy

 

Name:  Christopher A. Bondy

 

Title:   Partner

 

29

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

 

Hamilton CDO, Ltd.

 

NAME OF LENDER/

 

By: Stanfield Capital Partners LLC

 

TRANCHE B INVESTOR:

 

As its Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Christopher A. Bondy

 

Name:  Christopher A. Bondy

 

Title:   Partner

 

30

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

COLUMBIA FLOATING RATE
LIMITED LIABILITY COMPANY

 

NAME OF LENDER/

By: Highland Capital Management, L.P.

 

TRANCHE B INVESTOR:

Its Investment Advisor

 

 

 

 

By:

 /s/ Todd Travers

 

Name:  Todd Travers

 

Title:  Senior Portfolio Manager
Highland Capital Management, L.P.

 

31

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Denali Capital LLC, managing member of

 

NAME OF LENDER/

DC Funding Partners, portfolio manager for

 

TRANCHE B INVESTOR:

DENALI CAPITAL CLO II, LTD., or an affiliate

 

 

 

 

 

 

 

 

By:

 /s/ John P. Thacker

 

Name:  John P. Thacker

 

Title:   Chief Credit Officer

 

32

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Denali Capital LLC, managing member of

 

NAME OF LENDER/

DC Funding Partners, portfolio manager for

 

TRANCHE B INVESTOR:

DENALI CAPITAL CLO III, LTD., or an affiliate

 

 

 

 

 

 

 

 

By:

 /s/ John P. Thacker

 

Name:  John P. Thacker

 

Title:   Chief Credit Officer

 

33

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

GULF STREAM-COMPASS CLO 2002-1 LTD

 

NAME OF LENDER/

By:  Gulf Stream Asset Management LLC

 

TRANCHE B INVESTOR:

As Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Barry Love

 

Name:  Barry Love

 

Title:   Chief Credit Officer

 

34

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

GULFSTREAM-COMPASS CLO 2003-1-LTD.

 

NAME OF LENDER/

By:  Gulf Stream Asset Management LLC

 

TRANCHE B INVESTOR:

As Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Barry Love

 

Name:  Barry Love

 

Title:   Chief Credit Officer

 

35

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

TRS CALLISTO, LLC

 

 

 

 

By:

 /s/ Deborah O’Keefe

 

Name:  Deborah O’Keefe

 

Title:

 

36

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Nationwide Mutual Insurance Company

 

 

 

 

 

 

 

 

By:

 /s/ Thomas S. Leggett

 

Name:  Thomas S. Leggett

 

Title:  Associate Vice President
Public Bonds

 

37

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Nationwide Life Insurance Company

 

 

 

 

 

 

 

 

By:

 /s/ Thomas S. Leggett

 

Name:  Thomas S. Leggett

 

Title:  Associate Vice President
Public Bonds

 

38

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

Nationwide Life Insurance Company

 

TRANCHE B INVESTOR:

Separate Account–B Retirement

 

 

 

 

By:

 /s/ Thomas S. Leggett

 

Name:  Thomas S. Leggett

 

Title:  Associate Vice President
Public Bonds

 

39

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Harch CLO’I, Ltd.

 

 

 

 

 

 

 

 

By:

 /s/ Michael E. Lewitt

 

Name:  Michael E. Lewitt

 

Title:    Authorized Signatory

 

40

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

By: Callidus Debt Partners CLO Fund II; Ltd.

 

NAME OF LENDER/

By: Its Collateral Manager,

 

TRANCHE B INVESTOR:

Callidus Capital Management, LLC

 

 

 

 

 

 

 

 

By:

 /s/ Mavis Taintor

 

 

Name:  Mavis Taintor

 

 

Title:   Managing Director

 

41

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

TRANCHE B INVESTOR:

GSC Partners CDO Fund IV, Limited

 

 

By: GSCP (NJ), L.P., as Collateral Manager

 

 

 

 

 

By:

 /s/ Seth Katzenstein

 

Name:  Seth Katzenstein

 

Title:   Vice President

 

42

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

GSC Partners Gemini Fund Limited

 

 

By: GSCP (NJ), L.P., as Collateral Monitor

 

 

By: GSCP (NJ), INC., its General Manager

 

 

 

 

 

 

 

 

By:

 /s/ Seth Katzenstein

 

 

Name:   Seth Katzenstein

 

 

Title:    Vice President

 

43

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

TRYON CLO LTD. 2000-I

 

NAME OF LENDER/

By:  Babson Capital Management LLC

 

TRANCHE B INVESTOR:

as Collateral Manager

 

 

 

 

 

 

By:

 /s/ Glenn P. Duffy

 

 

Name:  Glen P. Duffy, CFA

 

 

Title:     Managing Director

 

44

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

APEX (IDM) CDO I, LTD.

 

NAME OF LENDER/

ELC (CAYMAN) LTD. CDO SERIES 1999-I

 

TRANCHE B INVESTOR:

By:  Babson Capital Management LLC as Collateral Manager

 

 

 

 

By:

 /s/ Glenn P. Duffy

 

Name:  Glenn P. Duffy, CFA

 

Title:    Managing Director

 

45

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

BABSON CLO LTD. 2003-I

 

NAME OF LENDER/

By:  Babson Capital Management LLC as

 

TRANCHE B INVESTOR:

Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ Glenn P. Duffy

 

 

Name:  Glenn P. Duffy CFA

 

 

Title:   Managing Director

 

46

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Landmark CDO Limited

 

 

 

 

 

 

 

 

By:

 /s/ Joe Moroney

 

 

Name:  Joe Moroney

 

 

Title:   Authorized Signatory

 

47

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Landmark II CDO Limited

 

 

 

 

 

 

 

 

By:

  /s/ Joe Moroney

 

 

Name:  Joe Moroney

 

 

Title:   Authorized Signatory

 

48

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Landmark III CDO Limited

 

 

 

 

 

 

 

 

By:

 /s/ Joe Moroney

 

Name:  Joe Moroney

 

Title:   Authorized Signatory

 

49

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

First Dominion Funding II

 

 

 

 

 

 

 

 

By:

 /s/ David H. Lerner

 

Name:

 

Title:

 

50

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

First Dominion Funding III

 

 

 

 

 

 

 

 

By:

 /s/ David H. Lerner

 

Name:  David H. Lerner

 

Title:    Authorized Signatory

 

51

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Monument Park CDO Ltd.

 

NAME OF LENDER/

By: Blackstone Debt Advisors L.P.

 

TRANCHE B INVESTOR:

As Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ D. T. Criares

 

Name:  Dean T. Criares

 

Title:    Managing Director

 

52

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SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Hanover Square CLO Ltd.

 

NAME OF LENDER/

By: Blackstone Debt Advisors L.P.

 

TRANCHE B INVESTOR:

As Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ D. T. Criares

 

Name:  Dean T. Criares

 

Title:    Managing Director

 

53

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

 

Union Square CDO Ltd.

 

NAME OF LENDER/

By: Blackstone Debt Advisors L.P.

 

TRANCHE B INVESTOR:

As Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ D. T. Criares

 

Name:  Dean T. Criares

 

Title:    Managing Director

 

54

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

 

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/

 

 

TRANCHE B INVESTOR:

Bank of Montreal

 

 

 

 

 

 

 

 

By:

/s/ S. Vaher

 

Name:  S. Vaher

 

Title:    MD

 

55

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

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Bear Stearns Investment Products Inc.

 

 

 

 

By:

 /s/ R. Bram Smith

 

Name:

Richard Bram Smith

 

Title:

Vice President

 

56

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

 

 

CSAM Funding I

 

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Andrew Marshak

 

 

Name:  Andrew Marshak

 

Title:   Authorized Signatory

 

57

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

 

 

CSAM Funding II

 

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Andrew Marshak

 

 

Name:  Andrew Marshak

 

Title:   Authorized Signatory

 

58

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

NAME OF LENDER/
TRANCHE B INVESTOR:

CSAM Funding III

 

 

 

 

By:

 /s/ David H. Lerner

 

Name:

David H. Lerner

 

Title:

Authorized Signatory

 

59

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

 

 

CSAM Funding IV

 

 

as a Lender

 

 

 

 

 

 

 

By:

 /s/ Andrew Marshak

 

 

Name:  Andrew Marshak

 

Title:   Authorized Signatory

 

60

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

NAME OF LENDER/
TRANCHE B INVESTOR:

Forest Multi-Strategy Master Fund SPC,

 

 

on behalf of its multi-strategy segregated portfolio

 

 

 

By:

/s/ David Teolis

 

Name:

David Teolis

 

Title:

Portfolio Manager

 

61

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

 

APEX (IDM) CDO I. LTD.

NAME OF LENDER/

LLC (CAYMAN) LTD. CDO SERIES 1999-I

TRANCHE B INVESTOR:

By:  Babson Capital Management LLC as Collateral Manager

 

 

 

 

 

 

 

By:

/s/ Glenn P. Duffy

 

 

Name:  Glenn P. Duffy, CFA

 

 

Title:    Managing Director

 

62

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

NAME OF LENDER/
TRANCHE B INVESTOR:

STONE TOWER CLO II LTD.

 

 

 

 

 

By:

STONE TOWER DEBT ADVISORS LLC

 

 

its Collateral Manager

 

 

 

 

 

 

 

 

By:

 /s/ William J. Sheoris

 

 

Name:  William J. Sheoris

 

 

Title:    Authorized Signatory

 

63

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

 

 

Atrium II

 

 

as a Lender

 

 

 

 

 

By:

/s/ Andrew Marshak

 

 

Name:  Andrew Marshak

 

Title:    Authorized Signatory

 

64

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

 

 

Atrium CDO

 

 

as a Lender

 

 

 

 

 

By:

/s/ Andrew Marshak

 

 

Name:  Andrew Marshak

 

Title:    Authorized Signatory

 

65

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

 

SIGNATURE PAGE TO
AMENDMENT NO. 2 DATED
AS OF JULY 22, 2004, TO THE
WASHINGTON GROUP, INC.
CREDIT AGREEMENT DATED
AS OF OCTOBER 9, 2003,
AS AMENDED

 

NAME OF LENDER/
TRANCHE B INVESTOR:

CREDIT SUISSE
FIRST BOSTON INTERNATIONAL

 

 

 

 

 

 

 

By:

 /s/ S. Martin [illegible]

 

 

Name:

 

 

Title:

 

66

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