Receivables Sale Agreement



 EXHIBIT 4.22 
  
 RECEIVABLES SALE AGREEMENT 
  
 DATED AS OF JULY 10, 2003 
  
 between 
  
 AMERISOURCEBERGEN DRUG CORPORATION, 
 AS
ORIGINATOR, 
  
 AND

  
 AMERISOURCE RECEIVABLES FINANCIAL CORPORATION,

 AS BUYER 








	ARTICLE 1        AMOUNTS AND TERMS OF THE PURCHASE	  	1
			
	 	  	Section 1.1        Initial Contribution of Receivables	  	1
			
	 	  	Section 1.2        Purchase of Receivables	  	2
			
	 	  	Section 1.3        Payment for the Purchases	  	3
			
	 	  	Section 1.4        Purchase Price Credit Adjustments	  	4
			
	 	  	Section 1.5        Payments and Computations, Etc	  	5
			
	 	  	Section 1.6        License of Software	  	5
			
	 	  	Section 1.7        Characterization	  	6
		
	ARTICLE 2        REPRESENTATIONS AND WARRANTIES	  	6
			
	 	  	Section 2.1        Representations and Warranties of Originator	  	6
			
	 	  	Section 2.2        Representations and Warranties of Originator Concerning the Receivables	  	10
		
	ARTICLE 3        CONDITIONS OF PURCHASE	  	12
			
	 	  	Section 3.1        Conditions Precedent to Purchase	  	12
			
	 	  	Section 3.2        Conditions Precedent to Subsequent Payments	  	12
		
	ARTICLE 4        COVENANTS	  	12
			
	 	  	Section 4.1        Covenants of Originator	  	12
			
	 	  	Section 4.2        Negative Covenants of Originator	  	18
		
	ARTICLE 5        TERMINATION EVENTS	  	19
			
	 	  	Section 5.1        Termination Events	  	19
			
	 	  	Section 5.2        Remedies	  	20
		
	ARTICLE 6        INDEMNIFICATION	  	21
			
	 	  	Section 6.1        Indemnities by Originator	  	21
			
	 	  	Section 6.2        Other Costs and Expenses	  	23

  

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	ARTICLE 7        MISCELLANEOUS	  	23
			
	 	  	Section 7.1        Waivers and Amendments	  	23
			
	 	  	Section 7.2        Notices	  	24
			
	 	  	Section 7.3        Protection of Ownership Interests of Buyer	  	24
			
	 	  	Section 7.4        Confidentiality	  	25
			
	 	  	Section 7.5        Bankruptcy Petition	  	25
			
	 	  	Section 7.6        Limitation of Liability	  	26
			
	 	  	Section 7.7        CHOICE OF LAW	  	26
			
	 	  	Section 7.8        CONSENT TO JURISDICTION	  	26
			
	 	  	Section 7.9        WAIVER OF JURY TRIAL	  	26
			
	 	  	Section 7.10      Integration; Binding Effect; Survival of Terms	  	27
			
	 	  	Section 7.11      Counterparts; Severability; Section References	  	27

  
  

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 EXHIBITS AND SCHEDULES

  

	Exhibit I	 	-	  	 Definitions

			
	Exhibit II	 	-	  	 Principal Place of Business; Location(s) of Records; Federal Employer Identification Number; Other Names

			
	Exhibit III	 	-	  	 Lock-Boxes; Collection Accounts; Collection Banks

			
	Exhibit IV	 	-	  	 Form of Compliance Certificate

			
	Exhibit V	 	-	  	 Copy of Credit and Collection Policy

			
	Exhibit VI	 	-	  	 Form of Subordinated Note

			
	Exhibit VII	 	-	  	 Form of Purchase Report

			
	Exhibit VIII	 	-	  	 Pending or Threatened Actions, Suits, Investigations or Proceedings

			
	Schedule A	 	 	  	 List of Documents to be Delivered to Buyer Prior to the Purchases


  
  

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 RECEIVABLES SALE AGREEMENT 
  
 THIS RECEIVABLES SALE AGREEMENT, dated as of July 10, 2003, is by and between AmerisourceBergen Drug
Corporation, a Delaware corporation (“Originator”), and Amerisource Receivables Financial Corporation, a Delaware corporation (“Buyer”). Unless defined elsewhere herein, capitalized terms used in
this Agreement shall have the meanings assigned to such terms in Exhibit I hereto (or, if not defined in Exhibit I hereto, the meaning assigned to such term in Exhibit I to the Purchase Agreement). 
  
 PRELIMINARY STATEMENTS 
  
 Originator now owns, and from time to time hereafter will
own, Receivables. Originator wishes to sell and assign to Buyer, and Buyer wishes to purchase from Originator, all of Originator’s right, title and interest in and to its Receivables, together with the Related Security and Collections with
respect thereto. 
  
 Originator and Buyer intend
the transactions contemplated hereby to be true sales to Buyer by Originator of the Receivables originated by it, providing Buyer with the full benefits of ownership of such Receivables, and neither the Originator nor Buyer intends these
transactions to be, or for any purpose to be characterized as, loans from Buyer to Originator. 
  
 Following the purchase of Receivables from Originator, Buyer will sell undivided interests therein and in the associated Related Security
and Collections pursuant to that certain Receivables Purchase Agreement dated as of July 10, 2003 (as the same may from time to time hereafter be amended, supplemented, restated or otherwise modified, the “Purchase
Agreement”) among Buyer, Originator, as initial Servicer, the various Purchaser Groups from time to time party thereto (collectively, the “Purchasers”), and Wachovia Bank, National Association, as administrator
for each Purchaser Group, or any successor administrator appointed pursuant to the terms of the Purchase Agreement, (in such capacity, the “Administrator”). 
  
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein contained and
other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
  
 ARTICLE 1 
  
 AMOUNTS AND TERMS OF THE PURCHASE 
  
 Section 1.1 Initial Contribution of Receivables. On the date hereof, Originator does hereby contribute, assign, transfer, set-over and otherwise convey to Buyer, and Buyer does hereby accept from Originator,
Receivables originated by Originator and existing as of the close of business on the Business Day immediately prior to the date hereof (the “Initial Cutoff Date”) having an aggregate Outstanding Balance of $2,019,745,773 (the
“Initial Contributed Receivables”), together with all Related Security relating thereto and all Collections thereof. 







 Section 1.2 Purchase of Receivables. (a) Effective on the date hereof, in consideration for the
Purchase Price paid to Originator and upon the terms and subject to the conditions set forth herein, Originator does hereby sell, assign, transfer, set-over and otherwise convey to Buyer, without recourse (except to the extent expressly provided
herein), and Buyer does hereby purchase from Originator, all of Originator’s right, title and interest in and to all Receivables originated by Originator and existing as of the close of business on the Initial Cutoff Date (other than the
Initial Contributed Receivables) and all Receivables thereafter originated by Originator through and including the Termination Date, together, in each case, with all Related Security relating thereto and all Collections thereof. In accordance with
the preceding sentence, on the date hereof Buyer shall acquire all of Originator’s right, title and interest in and to all Receivables existing as of the Initial Cutoff Date (other than the Initial Contributed Receivables) and thereafter
arising through and including the Termination Date, together with all Related Security relating thereto and all Collections thereof. Buyer shall be obligated to pay the Purchase Price for the Receivables purchased hereunder from Originator in
accordance with Section 1.3. 
  
 (b) On the 20th day of each month hereafter (or if any such day is not a Business Day, on the next succeeding Business Day thereafter,
Originator shall (or shall require the Servicer to) deliver to Buyer a report in substantially the form of Exhibit VII hereto (each such report being herein called a “Purchase Report”) with respect to the Receivables sold by
Originator to Buyer during the Settlement Period then most recently ended. In addition to, and not in limitation of, the foregoing, in connection with the payment of the Purchase Price for any Receivables purchased hereunder, Buyer may request that
Originator deliver, and Originator shall deliver, such approvals, opinions, information or documents as Buyer may reasonably request. 
  
 (c) It is the intention of the parties hereto that each Purchase of Receivables from Originator made hereunder shall constitute a sale, which sale is
absolute and irrevocable and provides Buyer with the full benefits of ownership of the Receivables originated by Originator. Except for the Purchase Price Credits owed to Buyer pursuant to Section 1.4, the sale of Receivables hereunder by
Originator is made without recourse to Originator; provided, however, that (i) Originator shall be liable to Buyer for all representations, warranties, covenants and indemnities made by Originator pursuant to the terms of the
Transaction Documents to which Originator is a party, and (ii) such sale does not constitute and is not intended to result in an assumption by Buyer or any assignee thereof of any obligation of Originator or any other Person arising in connection
with the Receivables, the related Contracts and/or other Related Security or any other obligations of Originator. In view of the intention of the parties hereto that each Purchase of Receivables made hereunder shall constitute a sale of such
Receivables rather than loans secured thereby, Originator agrees that it will, on or prior to the date hereof and in accordance with Section 4.1(e)(B)(x), mark its “Aged Trial Balance” with a legend in substantially the form set
forth on Exhibit XVI to the Purchase Agreement, evidencing that Buyer has purchased such Receivables as provided in this Agreement and to note in its financial statements that its Receivables have been sold to Buyer. Upon the request of Buyer or the
Administrator (as Buyer’s assignee), Originator will execute and file such financing or continuation statements, or amendments thereto or assignments thereof, and such other instruments or notices, as may be necessary or appropriate to perfect
and maintain the perfection of Buyer’s ownership interest in the Receivables originated by Originator and the Related Security and Collections with respect thereto, or as Buyer or the Administrator (as Buyer’s assignee) may reasonably
request. 
  

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 Section 1.3 Payment for the Purchases. (a) The Purchase Price for the Purchase from Originator of
its Receivables in existence as of the close of business on the Initial Cutoff Date (other than the Initial Contributed Receivables) shall be payable in full by Buyer to Originator on the date hereof, and shall be paid to Originator in the following
manner: 
  
 (i) by delivery of immediately
available funds, to the extent of funds made available to Buyer in connection with its subsequent sale of an interest in such Receivables to the Purchasers under the Purchase Agreement; provided that a portion of such funds shall be
offset by amounts owed by Originator to Buyer on account of the issuance of equity having a total value of not less than the Required Capital Amount, and 
  
 (ii) the balance, by delivery of the proceeds of a subordinated revolving loan from Originator to Buyer (a “Subordinated
Loan”) in an amount not to exceed the least of (A) the remaining unpaid portion of such Purchase Price, (B) the maximum Subordinated Loan that could be borrowed without rendering Buyer’s Net Worth less than the Required Capital
Amount, and (C) fifteen percent (15%) of such Purchase Price. Originator is hereby authorized by Buyer to endorse on the schedule attached to its Subordinated Note an appropriate notation evidencing the date and amount of each advance thereunder, as
well as the date of each payment with respect thereto, provided that the failure to make such notation shall not affect any obligation of Buyer thereunder. 
  
 The Purchase Price for each Receivable coming into existence after the Initial Cutoff Date shall be due and owing in full by Buyer to
Originator or its designee on the date each such Receivable came into existence (except that Buyer may, with respect to any such Purchase Price, offset against such Purchase Price any amounts owed by Originator to Buyer hereunder and which have
become due but remain unpaid) and shall be paid to Originator in the manner provided in the following paragraphs (b), (c) and (d). 
  
 (b) With respect to any Receivables coming into existence after the Initial Cutoff Date, on each Settlement Date, Buyer shall pay Originator the Purchase
Price therefor in accordance with Section 1.3(d) and in the following manner: 
  
 first, by delivery to Originator or its designee of immediately available funds, to the extent of funds available to Buyer
from its subsequent sale of an interest in all of the Receivables to the Administrator for the benefit of the Purchasers under the Purchase Agreement or other cash on hand; 
  
 second, by delivery to Originator or its designee of the proceeds of a Subordinated Loan,
provided that the making of any such Subordinated Loan shall be subject to the provisions set forth in Section 1.3(a)(ii); and 
  
 third, solely in the case of Receivables originated by Originator, unless the Termination Date has occurred in accordance
with this Agreement, by accepting a contribution to its capital in an amount equal to the remaining unpaid balance of such Purchase Price. 
  

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 Subject to the limitations set forth in Section 1.3(a)(ii), Originator irrevocably agrees to advance each
Subordinated Loan requested by Buyer on or prior to the Termination Date. The Subordinated Loans owing to Originator shall be evidenced by, and shall be payable in accordance with the terms and provisions of its Subordinated Note and shall be
payable solely from funds which Buyer is not required under the Purchase Agreement to set aside for the benefit of, or otherwise pay over to, the Purchasers. 
  
 (c) From and after the Termination Date, (i) Originator shall not be obligated to (but may, at its option) sell Receivables to Buyer, or (ii) Originator
shall not be obligated to (but may, at its option) contribute Receivables to Buyer’s capital pursuant to clause third of Section 1.3(b). 
  
 (d) Although the Purchase Price for each Receivable coming into existence after the Initial Cutoff Date shall be due and
payable in full by Buyer to Originator on the date such Receivable came into existence, settlement of the Purchase Price between Buyer and Originator shall be effected on a monthly basis on Settlement Dates with respect to all Receivables originated
by Originator during the same Calculation Period and based on the information contained in the Purchase Report delivered by Originator for the Calculation Period then most recently ended. Although settlement shall be effected on Settlement Dates,
increases or decreases in the amount owing under the Subordinated Note made pursuant to Section 1.3 and any contribution of capital by Originator to Buyer made pursuant to Section 1.3(b) shall be deemed to have occurred and shall be
effective as of the last Business Day of the Calculation Period to which such settlement relates. 
  
 Section 1.4 Purchase Price Credit Adjustments. If on any day: 
  
 (a) the Outstanding Balance of any Receivable is reduced or cancelled as a result of any credit issued for returned or
repossessed goods, any shortages, any pricing adjustment, any volume rebate or any other allowance, adjustment or deduction by Originator or any Affiliate thereof, or as a result of any governmental or regulatory action, or 
  
 (b) the Outstanding Balance of any Receivable is reduced or canceled as a
result of a setoff in respect of any claim by the Obligor thereof (whether such claim arises out of the same or a related or an unrelated transaction), or 
  
 (c) the Outstanding Balance of any Receivable is reduced on account of the obligation of Originator or any Affiliate thereof to pay to the related Obligor
any rebate or refund, or 
  
 (d) the Outstanding Balance of any
Receivable is less than the amount included in calculating the Net Pool Balance for purposes of any Settlement Report (for any reason other than receipt of Collections or such Receivable becoming a Defaulted Receivable), or 
  

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 (e) any of the representations or warranties of Originator with respect to any Receivable set forth in
Article II were not true when made, 
  
 then, in such event, Buyer shall be
entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable to Originator hereunder equal to the Outstanding Balance of such Receivable (calculated before giving effect to the
applicable reduction or cancellation). If such Purchase Price Credit exceeds the Original Balance of the Receivables originated by Originator on any day, Originator shall pay the remaining amount of such Purchase Price Credit in cash immediately,
provided that if the Termination Date has not occurred, Originator shall be allowed to deduct the remaining amount of such Purchase Price Credit from any indebtedness owed to it under its Subordinated Note. 
  
 Section 1.5 Payments and Computations, Etc. All amounts to be paid or
deposited by Buyer hereunder shall be paid or deposited in accordance with the terms hereof on the day when due in immediately available funds to the account of Originator designated from time to time by Originator or as otherwise directed by
Originator. In the event that any payment owed by any Person hereunder becomes due on a day that is not a Business Day, then such payment shall be made on the next succeeding Business Day. If any Person fails to pay any amount hereunder when due,
such Person agrees to pay, on demand, the Default Fee in respect thereof until paid in full; provided, however, that such Default Fee shall not at any time exceed the maximum rate permitted by applicable law. All computations of
interest payable hereunder shall be made on the basis of a year of 360 days for the actual number of days (including the first but excluding the last day) elapsed. 
  
 Section 1.6 License of Software. (a) To the extent that any software used by Originator to account for the
Receivables originated by it is non-transferable, Originator hereby grants to each of Buyer, the Administrator and the Servicer an irrevocable, non-exclusive license to use, without royalty or payment of any kind, all such software used by
Originator to account for such Receivables, to the extent necessary to administer such Receivables, whether such software is owned by Originator or is owned by others and used by Originator under license agreements with respect thereto,
provided that should the consent of any licensor of such software be required for the grant of the license described herein, to be effective, Originator hereby agrees that upon the request of Buyer (or Buyer’s assignee),
Originator will use its reasonable efforts to obtain the consent of such third-party licensor. The license granted hereby shall be irrevocable until the later to occur of (i) indefeasible payment in full of the Aggregate Unpaids (as defined in the
Purchase Agreement), and (ii) the date each of this Agreement and the Purchase Agreement terminates in accordance with its terms. 
  
 (b) Originator (i) shall take such action requested by Buyer and/or the Administrator (as Buyer’s assignee), from time to time hereafter, that may be
necessary or appropriate to ensure that Buyer and its assigns under the Purchase Agreement have an enforceable ownership interest in the Records relating to the Receivables purchased from Originator hereunder, and (ii) shall use its reasonable
efforts to ensure that Buyer, the Administrator and the Servicer each has an enforceable right (whether by license or sublicense or otherwise) to use all of the computer software used to account for such Receivables and/or to recreate such Records.

  

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 Section 1.7 Characterization. If, notwithstanding the intention of the parties expressed in
Section 1.2(c), any sale or contribution by Originator to Buyer of Receivables hereunder shall be characterized as a secured loan and not a sale or such sale shall for any reason be ineffective or unenforceable, then this Agreement shall be
deemed to constitute a security agreement under the UCC and other applicable law. For this purpose and without being in derogation of the parties’ intention that the sale of Receivables by Originator hereunder shall constitute a true sale
thereof, Originator hereby grants to Buyer a duly perfected security interest in all of Originator’s right, title and interest in, to and under all Receivables of Originator which are now existing or hereafter arising, all Collections and
Related Security with respect thereto, each Lock-Box and Collection Account, all other rights and payments relating to such Receivables and all proceeds of the foregoing to secure the prompt and complete payment of a loan deemed to have been made in
an amount equal to the Purchase Price of the Receivables purchased from Originator together with all other obligations of Originator hereunder, which security interest shall be prior to all other Adverse Claims thereto. Buyer and its assigns shall
have, in addition to the rights and remedies which they may have under this Agreement, all other rights and remedies provided to a secured creditor under the UCC and other applicable law, which rights and remedies shall be cumulative. 
  
 ARTICLE 2 
  
 REPRESENTATIONS AND WARRANTIES 
  
 Section 2.1 Representations and Warranties of Originator. Originator hereby represents and warrants to Buyer on the
date hereof, on the date of the Purchase from Originator hereunder and on each date that any Receivable is originated by Originator or on or after the date of such Purchase, that: 
  
 (a) Organization and Qualification. Originator is a corporation duly organized, validly existing and in good standing
under the Laws of Delaware. Originator is duly qualified to do business as a foreign corporation in good standing in each jurisdiction in which the ownership of its properties or the nature of its activities (including transactions giving rise to
Receivables), or both, requires it to be so qualified or, if not so qualified, the failure to so qualify would not have a material adverse effect on its financial condition or results of operations or any Receivables. 
  
 (b) Authority. Originator has the legal power and authority to execute
and deliver this Agreement and each other Transaction Document, to make the sales provided for herein and to perform its obligations under this Agreement and the other Transaction Documents. 
  
 (c) Execution and Binding Effect. Each of this Agreement and the other
Transaction Documents to which Originator is a party has been duly executed and delivered by Originator and (assuming the due and valid execution and delivery thereof by the other parties thereto), constitutes the legal, valid and binding obligation
of Originator, enforceable against Originator in accordance with their respective terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or other similar Laws of general application relating to or
affecting the enforcement of creditors’ rights generally or by general principles of equity and will vest absolutely and unconditionally in the Buyer, a valid undivided ownership 

  

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interest in the Receivables, the Related Security, the Collections and the related Proceeds (the “Purchased Assets”) purported to be
assigned thereby, subject to no Liens whatsoever. Upon the filing of the necessary financing statements under the UCC as in effect in the jurisdiction whose Law governs the perfection of the Buyer’s ownership interests in the Purchased Assets,
the Buyer’s ownership interests in the Purchased Assets will be perfected under Article Nine of such UCC, prior to and enforceable against all creditors of and purchasers from Originator and all other Persons whatsoever (other than the Buyer
and its successors and assigns). 
  
 (d) Authorizations and
Filings. No authorization, consent, approval, license, exemption or other action by, and no registration, qualification, designation, declaration or filing with, any Official Body is or will be necessary or, in the opinion of Originator,
advisable in connection with the execution and delivery by Originator of this Agreement and each of the other Transaction Documents to which Originator is a party, the consummation by Originator of the transactions herein or therein contemplated or
the performance by Originator of or the compliance by Originator with the terms and conditions hereof or thereof, to ensure the legality, validity or enforceability hereof or thereof, or to ensure that the Buyer will have a valid undivided ownership
interest in and to the Receivables, the Related Security, the Collections and the related Proceeds which is perfected and prior to all other Liens (including competing ownership interests), other than the filing of financing statements under the UCC
in the jurisdiction of Originator’s Location. 
  
 (e)
Location of Chief Executive Office, etc. As of the date hereof: (i) Originator’s Chief Executive Office is located at the address for notices set forth on the signature page hereof; (ii) Originator has only the Subsidiaries and divisions
listed on Exhibit II hereto; (iii) the offices where Originator keeps all of its Records with respect to any Receivables are listed on Exhibit II hereto; and (iv) Originator has, within the last 5 years, operated only under the trade names
identified in Exhibit II hereto, and, within the last 5 years, has not changed its name, merged or consolidated with any other corporation or been the subject of any proceeding under Title 11, United States Code (Bankruptcy), except as disclosed in
Exhibit II hereto. 
  
 (f) Perfection. This Agreement,
together with the filing of the financing statements contemplated hereby, is effective to transfer to Buyer (and Buyer shall acquire from Originator) (i) legal and equitable title to, with the right to sell and encumber each Receivable, its Related
Security, Collections and related Proceeds originated by Originator, whether now existing and hereafter arising, together with the Collections with respect thereto, and (ii) all of Originator’s right, title and interest in the Related Security
associated with each such Receivable, in each case, free and clear of any Adverse Claim, except as created by the Transactions Documents. There have been duly filed all financing statements or other similar instruments or documents necessary under
the UCC (or any comparable law) of all appropriate jurisdictions to perfect Buyer’s ownership interest in such Receivables, the Related Security, Collections and Proceeds. Originator’s jurisdiction of organization is a jurisdiction whose
law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, record or registration system as a condition or result of such a security interest’s obtaining priority
over the rights of a lien creditor which respect to collateral. 
  
 (g) Absence of Conflicts. Neither the execution and delivery by Originator of this Agreement and each of the Transaction Documents to which it is a party, nor the 

  

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consummation by Originator of the transactions herein or therein contemplated, nor the performance by Originator of or the compliance by Originator with the
terms and conditions hereof or thereof, will (i) violate any Law or (ii) conflict with or result in a breach of or a default under (A) the certificate of incorporation or by-laws of Originator or (B) any agreement or instrument, including, without
limitation, any and all indentures, debentures, loans or other agreements to which Originator is a party or by which it or any of its properties (now owned or hereafter acquired) may be subject or bound, which would have a material adverse effect on
the financial position or results of operations of Originator or result in rendering any debt evidenced thereby due and payable prior to its maturity or result in the creation or imposition of any Lien pursuant to the terms of any such instrument or
agreement upon any property (now owned or hereafter acquired) of Originator. Originator has not entered into any agreement with any Obligor prohibiting, restricting or conditioning the assignment of any portion of the Receivables. 
  
 (h) Accurate and Complete Disclosure. No information furnished in
writing by a Responsible Officer of Originator pursuant to or in connection with this Agreement or any transaction contemplated hereby is false or misleading in any material respect as of the date of which such information was furnished (including
by omission of material information necessary to make such information not misleading). 
  
 (i) No Proceedings. Except as set forth in Exhibit VIII, there are no actions, suits, investigations or proceedings pending, or to the knowledge of Originator, threatened, against or affecting Originator or its
properties in or before any Official Body which (i) seeks any determination or ruling that might materially adversely affect (A) the performance by Originator of its obligations under this Agreement or the Transaction Documents or (B) the validity
or enforceability of this Agreement, the Transaction Documents, the Contracts or any material amount of the Receivables, (ii) asserts the invalidity of this Agreement or any of the other Transaction Documents, or (iii) seeks to prevent the
consummation of the transactions contemplated hereby or thereby. 
  
 (j) Bulk Sales Act. No transaction contemplated hereby requires compliance with any bulk sales act or similar law. 
  
 (k) Litigation. No injunction, decree or other decision has been issued or made by any Official Body that prevents, and to the knowledge of
Originator, no threat by any Person has been made to attempt to obtain any such decision that would have a material adverse impact on, the conduct by Originator of a significant portion of Originator’s business operations or any portion of its
business operations affecting the Receivables, the Related Security, the Collections and the related Proceeds, and no litigation, investigation or proceeding exists asserting the invalidity of the Transaction Documents, seeking to prevent the
consummation of any transactions contemplated by the Transaction Documents, or seeking any determination or ruling that might materially and adversely affect (A) the performance by Originator of its obligations under the Transaction Documents or (B)
the validity or enforceability of the Transaction Documents, the Contracts or a material amount of the Receivables. Originator has paid on a timely basis all of its obligations arising out of judgments, proceedings or investigations except those
which it is appealing in good faith. 
  

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 (l) Margin Regulations. The use of all funds acquired by Originator under this Agreement will not
conflict with or contravene any of Regulations T, U or X promulgated by the Board of Governors of the Federal Reserve System as the same may be amended, supplemented or otherwise modified from time to time. 
  
 (m) Taxes. Originator has timely filed all United States federal
income tax returns and all other material tax returns which are required to be filed by it and has paid all taxes due pursuant to such returns and paid or contested any assessment received by Originator related to such returns. 
  
 (n) Books and Records. Originator has indicated on its books and
records (including any computer files) that the Receivables, the Related Security, the Collections and the related Proceeds are the property of the Buyer. Originator maintains at, or shall cause the Servicer to maintain at, one or more of their
respective offices listed on Exhibit II hereto the complete records for the Receivables. 
  
 (o) Creditor Approval. Originator has obtained from its creditors (i) all approvals necessary to sell and assign the Receivables, the Related Security, the Collections and the related Proceeds and (ii) releases
of any security interests in the Receivables, the Related Security, the Collections and the related Proceeds. 
  
 (p) Financial Condition. Originator is not insolvent or the subject of any Event of Bankruptcy and the sale of the Receivables on such day will not
be made in contemplation of the occurrence thereof. 
  
 (q)
Financial Information. If and when produced in accordance with the terms of this Agreement, the consolidated balance sheet of Originator as of the most recent Fiscal Year end and the related statements of income of Originator for the Fiscal
Year then ended, fairly present the consolidated financial position of Originator as of such date and the consolidated results of the operations, all in accordance with GAAP. 
  
 (r) Investment Company. Originator is not an “investment company” or a company “controlled” by an
“investment company” within the meaning of the Investment Company Act of 1940, as amended. Originator is not a “holding company” or a “subsidiary holding company” of a “holding company”
within the meaning of the Public Utility Holding Company Act of 1935, as amended, or any successor statute. 
  
 (s) ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, could reasonably be expected to result in a material adverse effect on the business, financial condition, operations or properties of the Originator and ERISA Affiliates taken as a whole. The present value
of all accumulated benefit obligations under each Pension Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such
amounts, exceed by more than $25,000,000 the fair market value of the assets of such Pension Plan, and the present value of all accumulated benefit obligations of all underfunded Pension Plans (based on the assumptions used for purposes of Statement
of Financial Accounting 

  

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Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $25,000,000 the fair market
value of the assets of all such underfunded Pension Plans. 
  
 (t)
Separate Corporate Existence. Originator is entering into the transactions contemplated by this Agreement in reliance on the Buyer’s identity as a separate legal entity from Originator and each of its Affiliates, and acknowledges that
the Buyer and the other parties to the Transaction Documents are similarly entering into the transactions contemplated by the other Transaction Documents in reliance on the Buyer’s identity as a separate legal entity from Originator and each
such other Affiliate. Originator has at all times complied with Section 4.1(r). 
  
 (u) No Fraudulent Conveyance. The transactions contemplated by this Agreement and by each of the Facility Documents are being consummated by Originator in furtherance of Originator’s ordinary business,
with no contemplation of insolvency and with no intent to hinder, delay or defraud any of its present or future creditors. By its receipt of the Purchase Price hereunder and its ownership of the capital stock of the Buyer, Originator shall have
received reasonably equivalent value for the Purchased Assets sold or otherwise conveyed to the Buyer under this Agreement. No transfer hereunder by Originator of any Receivable originated by Originator is or may be voidable under any section of the
Bankruptcy Reform Act of 1978 (11 U.S.C. §§ 101 et seq.), as amended. 
  
 (v) Ownership of Buyer. Originator owns, directly or indirectly, 100% of the issued and outstanding equity interests of Buyer. Such equity interests are validly issued, fully paid and nonassessable, and there
are no options, warrants or other rights to acquire securities of Buyer. 
  
 (w) Compliance with Law. Originator has complied in all respects with all applicable laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where
the failure to so comply could not reasonably be expected to have a material adverse effect on its financial condition or results of operations or any Receivables. 
  
 Section 2.2 Representations and Warranties of Originator Concerning the Receivables. By selling Receivables to the
Buyer on each Purchase Date, Originator hereby represents and warrants to Buyer on the date hereof, on the date of the Purchase from Originator hereunder and on each date that any Receivable is originated by Originator or on or after the date of
such Purchase, that: 
  
 (a) Assignment. This Agreement
vests in the Buyer all the right, title and interest of Originator in and to the Receivables, the Related Security, the Collections and Proceeds, and constitutes a valid sale of the Receivables, enforceable against, and creating an interest prior in
right to, all creditors of and purchasers from Originator. 
  
 (b)
No Liens. Each Receivable, together with the related Contract and all purchase orders and other agreements related to such Receivable, is owned by Originator free and clear of any Lien. When the Buyer makes a purchase of a Receivable it shall
have acquired 

  

 10 








 
and shall continue to have maintained an ownership interest in such Receivable and in the Related Security, the Collections and Proceeds with respect thereto
free and clear of any Lien (other than the Lien arising in connection with this Agreement). Originator has not and will not prior to the time of the sale of any such interest to the Buyer have sold, pledged, assigned, transferred or subjected to a
Lien any of the Receivables, the Related Security, the Collections, and Proceeds other than in accordance with the terms of this Agreement. 
  
 (c) Filings. On or prior to each Purchase Date, all financing statements and other documents required to be recorded or filed in order to perfect
and protect the Receivables, the Related Security, the Collections, and Proceeds against all creditors of and purchasers from Originator and all other Persons whatsoever have been duly filed in each filing office necessary for such purpose and all
filing fees and taxes, if any, payable in connection with such filings have been paid in full. 
  
 (d) Credit and Collection Policy. Originator’s Credit and Collection Policy has been complied with in all material respects in regard to each Receivable and related Contract. Neither Originator nor any
other Person has extended or modified the terms of any Receivable or the related Contract except in accordance with Originator’s Credit and Collection Policy. 
  
 (e) Nature of Receivables. Each Receivable is, or will be, an eligible asset within the meaning of Rule 3a-7
promulgated under the Investment Company Act of 1940, as amended from time to time. 
  
 (f) Bona Fide Receivables. Each Receivable is an obligation of an Obligor arising out of a past, current or future sale or performance by Originator, in accordance with the terms of the Contract giving rise to
such Receivable. Originator has no knowledge of any fact that should have led it to expect at the time of the initial creation of an interest in any Receivable hereunder that such Receivable would not be paid in full when due except with respect to
any Dilution. Each Receivable classified as an “Eligible Receivable” by Originator in any document or report delivered hereunder satisfies the requirements of eligibility contained in the definition of Eligible Receivable at the time such
document or report was delivered. 
  
 (g) Collections. The
conditions and requirements set forth in Section 4.1(x) have at all times been satisfied and duly performed. The names and addresses of all Collection Banks, together with the account numbers of the Collection Accounts of Originator at each
Collection Bank and the post office box number of each Lock-Box, are listed on Exhibit III. Originator has not granted any Person, other than Buyer (and its assigns) dominion and control of any Lock-Box or Collection Account, or the right to
take dominion and control of any such Lock-Box or Collection Account at a future time or upon the occurrence of a future event. 
  
 (h) Eligible Receivables. Each Receivable reflected in any Purchase Report as an Eligible Receivable was an Eligible Receivable on the date of its
acquisition by Buyer hereunder. 

  

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 ARTICLE 3 
  

CONDITIONS OF PURCHASE 
  
 Section 3.1 Conditions Precedent to Purchase. The Purchases under this Agreement is subject to the conditions precedent that (a) Buyer shall have
been capitalized with the Initial Contributed Receivables, (b) Buyer shall have received on or before the date of such purchase those documents listed on Schedule A and (c) all of the conditions to the initial purchase under the Purchase
Agreement shall have been satisfied or waived in accordance with the terms thereof. 
  
 Section 3.2 Conditions Precedent to Subsequent Payments. Buyer’s obligation to pay for Receivables coming into existence after the Initial Cutoff Date shall be subject to the further conditions precedent
that: (a) the Facility Termination Date shall not have occurred under the Purchase Agreement; (b) Buyer (or its assigns) shall have received such other approvals, opinions or documents as it may reasonably request and (c) on the date such Receivable
came into existence, the following statements shall be true (and acceptance of the proceeds of any payment for such Receivable shall be deemed a representation and warranty by Originator that such statements are then true): 
  
 (i) the representations and warranties set forth in
Article II are true and correct on and as of the date such Receivable came into existence as though made on and as of such date; and 
  
 (ii) no event has occurred and is continuing that will constitute a Termination Event or an Unmatured Termination Event. 
  
 Notwithstanding the foregoing conditions precedent, upon payment of the Purchase Price for
any Receivable (whether by payment of cash, through an increase in the amounts outstanding under the Subordinated Note, by offset of amounts owed to Buyer and/or by offset of capital contributions), title to such Receivable and the Related Security
and Collections with respect thereto shall vest in Buyer, whether or not the conditions precedent to Buyer’s obligation to pay for such Receivable were in fact satisfied. The failure of Originator to satisfy any of the foregoing conditions
precedent, however, shall give rise to a right of Buyer to rescind the related purchase and direct Originator to pay to Buyer an amount equal to the Purchase Price payment that shall have been made with respect to any Receivables related thereto.

  
 ARTICLE 4 
  
 COVENANTS 
  
 Section 4.1 Covenants of Originator. Until the date on which this Agreement terminates in accordance with its terms,
Originator hereby covenants as set forth below: 
  
 (a) Notice
of Material Adverse Change. Promptly upon becoming aware thereof, Originator shall give the Buyer notice of any material adverse change in the business, operations or financial condition of Originator which reasonably could affect adversely the
collectibility of the Receivables. 
  

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 (b) Preservation of Corporate Existence. Originator shall preserve and maintain its corporate
existence, rights, franchises and privileges in the jurisdiction of its incorporation, and qualify and remain qualified in good standing as a foreign corporation in each jurisdiction where the failure to preserve and maintain such existence, rights,
franchises, privileges and qualification would materially adversely affect (i) the interests of the Buyer hereunder or (ii) the ability of Originator to perform its obligations under the Transaction Documents. 
  
 (c) Compliance with Laws. Originator shall comply in all material
respects with all Laws applicable to Originator, its business and properties, and all Receivables. 
  
 (d) Enforceability of Obligations. Originator shall take such actions as are reasonable and within its power to ensure that, with respect to each
Receivable, the obligation of any related Obligor to pay the unpaid balance of such Receivable in accordance with the terms of the related Contract remains legal, valid, binding and enforceable against such Obligor. 
  
 (e) Books and Records. Originator shall, to the extent practicable,
maintain and implement administrative and operating procedures (including, without limitation, an ability to recreate records evidencing Receivables in the event of the destruction of the originals thereof), and keep and maintain or obtain, as and
when required, all documents, books, records and other information reasonably necessary or advisable for the collection of all Receivables (including, without limitation, records adequate to permit the daily identification of all Collections of and
adjustments to each existing Receivable). Originator will (A) on or prior to the date hereof, mark its “Aged Trial Balance” with a legend in substantially the form set forth on Exhibit XVI to the Purchase Agreement and (B) upon the request
of the Administrator or any Purchaser Agent following the occurrence of a Termination Event: (x) mark each Contract with a legend describing the Administrator’s security interest and (y) deliver to the Administrator all Contracts (including,
without limitation, all multiple originals of any such Contract constituting an instrument, a certificated security or chattel paper) relating to the Receivables. 
  
 (f) Obligor List. Originator shall at all times maintain a current list (which may be stored on magnetic tapes or
disks) of all Obligors under Contracts related to Receivables, including the name, address and account number of each such Obligor. 
  
 (g) Litigation. As soon as possible, and in any event within ten Business Days of Originator’s knowledge thereof, Originator shall give the
Buyer notice of (i) any litigation, investigation or proceeding against Originator which may exist at any time which could have a material adverse effect on the financial condition or results of operations of Originator, materially impair the
ability of Originator to perform its obligations under this Agreement, or materially adversely affect the collectibility of the Receivables and (ii) any material adverse development in any such previously disclosed litigation. 
  
 (h) Notice of Relocation. Originator shall give the Buyer and the
Administrator 45 days’ prior written notice of any relocation of its Chief Executive Office or any office where records are kept; provided that such 45 day notice need not be given by Originator in connection with the relocation of
Originator’s Chief Executive Office to 1300 Morris Drive, Chesterbrook, PA 19087. Originator will at all times maintain its Chief Executive Office within 

  

 13 








 
a jurisdiction in the United States in which Article Nine of the UCC (1972 or later version) is in effect as of the date hereof or the date of any such
relocation and in the event it moves its Chief Executive Office to a location which may charge taxes, fees, costs, expenses or other charges to perfect the interests of the Buyer in the Receivables, it shall pay all taxes, fees, costs, expenses and
other charges associated with perfecting the interests of the Buyer in the Receivables and any other costs and expenses incurred in order to maintain the enforceability of this Agreement and the interest of the Buyer in the Receivables. 

 
 (i) Further Information. Originator shall furnish or cause to be
furnished to the Buyer such other information as promptly as practicable, and in such form and detail, as the Buyer may reasonably request. 
  
 (j) Fees, Taxes and Expenses. Originator shall pay all filing fees, stamp taxes, other taxes (other than taxes imposed directly on the overall net
income of the Buyer) and expenses, including the fees and expenses set forth in Section 6.2 hereof, if any, which are incurred or assessed on account of or arise out of this Agreement and the documents and transactions entered into pursuant to this
Agreement. 
  
 (k) Subordinated Note. Originator shall not
transfer its Subordinated Note to any Person. 
  
 (l)
Fulfillment of Obligations. Originator shall duly observe and perform, or cause to be observed or performed, all material obligations and undertakings on its part to be observed and performed under or in connection with this Agreement and the
Receivables, shall duly observe and perform all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, shall do nothing to materially impair the rights, title and interest of
the Buyer in and to the Receivables, and shall pay when due (or contest in good faith) any taxes, including without limitation any sales tax, excise tax or other similar tax or charge, payable in connection with the Receivables and their creation
and satisfaction. 
  
 (m) Copies of Reports, Filings, Etc.
Originator shall furnish to the Buyer, upon written request, as soon as practicable after the issuance, sending or filing thereof, copies of all proxy statements, financial statements, reports and other communications which Originator sends to its
security holders generally, and, if Originator is required to file reports with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, copies of all regular, periodic and special reports which Originator
files with the Securities and Exchange Commission or with any securities exchange on Forms 10-K, 10-Q, 8-K or any successor forms thereto. Originator agrees that the Buyer may furnish any such reports to the Administrator and the Buyer agrees that
it shall, promptly upon receipt of such reports, deliver such reports to the Administrator. 
  
 (n) Compliance with Credit and Collection Policy. The Credit and Collection Policy shall be complied with in all material respects with respect to each Receivable and related Contract. 
  

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 (o) Insurance. Originator shall keep insured all property of a character usually insured by
corporations engaged in the same or similar business similarly situated against loss or damage of the kinds and in the amounts customarily insured against by such corporations and carry such other insurance as is usually carried by such
corporations. 
  
 (p) Audits. At any reasonable time, and
from time to time at the Buyer’s reasonable request upon notice Originator shall permit the Buyer, or its agents or representatives, (i) to examine and make copies of and extracts from all books, records and documents (including, without
limitation, computer tapes and disks) in the possession or under the control of Originator relating to the Receivables, including, without limitation, the related Contracts and Related Security, and (ii) to visit the offices and properties of
Originator for the purpose of examining the materials described in clause (i) above, and to discuss matters relating to the Receivables, and Originator’s performance under this Agreement with any of the officers, employees, or independent
accountants of Originator having knowledge of such matters. Following the occurrence of a Amortization Event (as defined in the Purchase Agreement), Originator shall reimburse the Buyer for all reasonable fees, costs and out-of-pocket expenses
incurred by or on behalf of the Buyer promptly upon receipt of a written notice therefor. 
  
 (q) ERISA Events. 
  
 Promptly upon becoming aware of the occurrence or likely occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to result in liability of Originator and its ERISA
Affiliates in an aggregate amount exceeding $25,000,000. Originator shall give the Buyer a written notice specifying the nature thereof, what action Originator or any ERISA Affiliate has taken and, when known, any action taken or threatened by the
Internal Revenue Service, the Department of Labor or the PBGC with respect thereto. 
  
 (r) Separate Identity. Originator acknowledges that the Administrator, the Purchaser Agents and the Purchasers are entering into the transactions contemplated by the Purchase Agreement in reliance upon
Buyer’s identity as a legal entity that is separate from Originator and any Affiliates thereof. Originator shall take all actions required to maintain the Buyer’s status as a separate legal entity, including, without limitation,

  
 (i) not anticipating any need for its having
to extend advances to Buyer except for those described in the Transaction Documents, if any; 
  
 (ii) not conducting its business in the name of Buyer; 
  
 (iii) having a telephone number, stationery and business forms separate from those of Buyer; 
  
 (iv) not providing for its expenses and liabilities from the
funds of Buyer; 
  
 (v) notwithstanding certain
limited liabilities of Buyer to Administrator, which are indemnified by an affiliate of Originator, not being liable for the payment of any liability of Buyer; 
  

 15 








 (vi) holding out either the assets or the creditworthiness of itself as being available
for the payment of any liability of Buyer; 
  
 (vii) maintaining an arm’s-length relationship with Buyer; and 
  
 (viii) not transferring assets from itself to Buyer without fair consideration or with the intent to hinder, delay or defraud the creditors of either itself or Buyer. 
  
 (s) Software. Originator shall use its reasonable efforts to enable
each of the Buyer, any agent of the Buyer and the Servicer (whether by license, sublicense, assignment or otherwise) to use all of the computer software used to account for the Receivables to the extent necessary to administer the Receivables.

  
 (t) [Intentionally Omitted.] 
  
 (u) Financial Reporting. Originator will maintain, for itself and each
of its Subsidiaries, a system of accounting established and administered in accordance with GAAP, and cause AmerisourceBergen to make its balance sheet and statement of income and cash flows publicly available as described in Section 5.3(k) of the
Purchase Agreement and furnish, or cause to be furnished, to Buyer (or its assigns): 
  
 (i) Accounting Certificate. The certificate described in Section 5.3(k) of the Purchase Agreement. 
  
 (ii) [Intentionally Omitted.] 
  
 (iii) Compliance Certificate. On the date of public
filing (or the next succeeding Business Day) of the financial statements described above, a compliance certificate in substantially the form of Exhibit IV signed by an Authorized Officer of Originator and dated the date of such annual
financial statement or such quarterly financial statement, as the case may be. 
  
 (iv) S.E.C. Filings. Promptly upon the written request of the Administrator or any Purchaser Agent, copies of all registration
statements and annual, quarterly, monthly or other regular reports which Originator files with the Securities and Exchange Commission. 
  
 (v) Copies of Notices. Promptly upon its receipt of any notice under or in connection with any Transaction Document from any Person
other than Buyer, the Administrator, any Purchaser Agent or any Purchaser, copies of the same. 
  
 (vi) Other Information. Promptly, from time to time, such other information, documents, records or reports relating to the
Receivables originated by Originator as Buyer (or its assigns) may from time to time reasonably request in order to protect the interests of Buyer (and its assigns) under or as contemplated by this Agreement. 
  

 16 








 (v) Notices. Originator will notify Buyer (or its assigns) in writing of any of the following
promptly upon learning of the occurrence thereof, describing the same and, if applicable, the steps being taken with respect thereto: 
  
 (i) Termination Events or Unmatured Termination Events. The occurrence of each Termination Event and each Unmatured Termination
Event, by a statement of an Authorized Officer of Originator. 
  
 (ii) Judgment and Proceedings. (1) The entry of any judgment or decree against Originator or any of its Subsidiaries if the aggregate amount of all judgments and decrees then outstanding against Originator and
its Subsidiaries exceeds $25,000,000 after deducting (a) the amount with respect to which Originator or Subsidiary is insured and with respect to which the insurer has assumed responsibility in writing, and (b) the amount for which Originator or
Subsidiary is otherwise indemnified if the terms of such indemnification are satisfactory to Buyer (or its assigns), and (2) the institution of any litigation, arbitration proceeding or governmental proceeding against Originator which, individually
or in the aggregate, could reasonably be expected to have a material adverse effect on its financial condition or results of operations or any Receivables. 
  
 (iii) Defaults Under Other Agreements. The occurrence of a default or an event of default under any other financing arrangement for
an aggregate principal amount exceeding $25,000,000 pursuant to which Originator is a debtor or an obligor. 
  
 (w) Ownership. Originator will establish and maintain, irrevocably in Buyer, (A) legal and equitable title to the Receivables originated by
Originator and the Collections and (B) all of Originator’s right, title and interest in the Related Security, Collections and Proceeds associated with the Receivables originated by Originator, in each case, free and clear of any Adverse Claims
other than Adverse Claims in favor of Buyer (and its assigns) (including, without limitation, the filing of all financing statements or other similar instruments or documents necessary under the UCC (or any comparable
law) of all appropriate jurisdictions to perfect Buyer’s interest in such Receivables, Related Security, Collections and Proceeds and such other action to perfect, protect or more fully evidence the interest of Buyer as Buyer (or its assigns)
may reasonably request). 
  
 (x) Collections. Originator
will cause (1) all proceeds from all Lock-Boxes to be directly deposited by a Collection Bank into a Collection Account and (2) each Lock-Box and Collection Account to be subject at all times to a Collection Account Agreement that is in full force
and effect. In the event any payments relating to Receivables are remitted directly to Originator or any Affiliate of Originator, Originator will remit (or will cause all such payments to be remitted) directly to a Collection Bank and deposited into
a Collection Account within two (2) Business Days following receipt thereof and, at all times prior to such remittance, Originator will itself hold or, if applicable, will cause such payments to be held in trust for the exclusive benefit of Buyer
and its assigns. Originator will transfer exclusive ownership, dominion and control of each Lock-Box and Collection Account to Buyer and, will not grant the right to take dominion and control of any Lock-Box or Collection Account at a future time or
upon the occurrence of a future event to any Person, except to Buyer (or its assigns) as contemplated by this Agreement and the Purchase Agreement. 
  

 17 








 Section 4.2 Negative Covenants of Originator. Until the date on which this Agreement terminates in
accordance with its terms, Originator hereby covenants that: 
  
 (a) Statement for and Treatment of Sales. Originator shall not prepare any financial statements for financial accounting or reporting purposes which shall account for the transactions contemplated herein in any manner other than as a
sale of the Receivables to the Buyer. 
  
 (b) No Rescissions or
Modifications. Originator shall not rescind or cancel any Receivable or related Contract or modify any terms or provisions thereof, or grant any Dilution to an Obligor except in accordance with the Credit and Collection Policy, unless such
Receivable has been deemed collected pursuant to the Purchase Agreement or repurchased by Originator. 
  
 (c) No Change in Name, Identity or Corporate Structure. Originator shall not change its name, identity or corporate structure (within the meaning
of Section 9-507(c) of the UCC of any applicable jurisdiction) in any manner which would make any financing statement or continuation statement filed in connection with this Agreement or the transactions contemplated hereby seriously misleading
within the meaning of Section 9-507(c) of the UCC of any applicable jurisdiction or other applicable Laws unless it shall have (i) given the Buyer at least 45 days’ prior written notice thereof and (ii) delivered to the Buyer all financing
statements, instruments and other documents requested by the Buyer in connection with such change. 
  
 (d) No Liens. Originator shall not cause any of the Receivables or related Contracts, or any inventory or goods the sale of which may give rise to
a Receivable, or any Collection Account or any right to receive any payments received therein or deposited thereto, to be sold, pledged, assigned or transferred or to be subject to a Lien, other than the sale and assignment of the Receivables to the
Buyer and the Liens created in connection with the transactions contemplated by this Agreement. 
  
 (e) Liens on Inventory. Originator shall not cause or permit any Lien to be placed upon inventory or goods the sale of which may give rise to a
Receivable unless (x) (i) any related security agreement, financing statements and any other related documents specifically exclude from such Lien the proceeds of the sale of such inventory or goods and (ii) the Buyer or any assignee or transferee
thereof has reviewed such security agreement, financing statements and related documents or (y) the entity for whose benefit such Lien is granted or arises releases or has released the Lien at or prior to the time an invoice is sent for payment upon
the sale of such inventory or goods. 
  
 (f) Consolidations,
Mergers and Sales of Assets. Originator shall not (i) consolidate or merge with or into any other Person, or (ii) sell, lease or otherwise transfer all or substantially all of its assets to any other Person; provided that Originator may merge or
consolidate with another Person if Originator is the corporation surviving such merger. 
  

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 (g) Change in Payment Instructions to Obligors. Originator shall not make any change in its
instructions to Obligors regarding payments to be made with respect to the Receivables (other than changes with respect to the mailing addresses for remittances) unless the Buyer and the Administrator shall have received, at least ten (10) days
before the proposed effective date therefor, written notice of such change and the Administrator shall have consented thereto; provided, however, that Originator may make changes in instructions to Obligors regarding payments if such
new instructions require such Obligor to make payments to another existing Collection Account. Originator will not add or terminate any bank as a Collection Bank, unless Buyer (or its assigns) shall have received, at least ten (10) days before the
proposed effective date therefor, (i) written notice of such addition or termination and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock-Box, an executed Collection Account Agreement with respect to the new
Collection Account or Lock-Box. 
  
 (h) ERISA Matters.
Originator shall not permit any event or condition which is described in Section 5.1(h) to occur or exist with respect to any Pension Plan. 
  
 (i) Modifications to Credit and Collection Policy. Originator will not make any material change to the Credit and Collection Policy without prior
written consent of the Administrator and each Purchaser Agent (and the Originator shall provide notice of any such change (unless de minimis) at least five (5) Business Days prior to the effective date of such change). 
  
 (j) No Adverse Selection. To the extent that Originator has retained
Receivables that would be Eligible Receivables but which have not been transferred to Buyer hereunder, Originator will not select those Receivables to be transferred hereunder in any manner that materially adversely affects Buyer. 
  
 ARTICLE 5 
  
 TERMINATION EVENTS 
  
 Section 5.1 Termination Events. The occurrence of any one or more of the following events shall constitute a Termination Event: 
  
 (a) Originator shall fail to make any payment or deposit required hereunder
when due and such failure goes unremedied for two (2) Business Days after the date when such amount became due. 
  
 (b) Originator shall fail to perform or observe any term, covenant or agreement hereunder (other than as referred to in clause (a) of this Section
5.1) or any other Transaction Document to which it is a party and such failure shall continue for ten (10) consecutive Business Days after either (i) any Responsible Officer of Originator becomes aware thereof or (ii) notice thereof to
Originator by the Administrator, any Purchaser Agent or any Purchaser. 
  
 (c) Any representation, warranty, certification or statement made by Originator in this Agreement, any other Transaction Document or in any other document delivered pursuant hereto or thereto shall prove to have been incorrect in any
material respect 

  

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when made or deemed made and which continues to be false or misleading in any material respect for a period of ten (10) Business Days after either (i) any
Responsible Officer of Originator becomes aware thereof or (ii) notice thereof to Originator by the Administrator, any Purchaser Agent or any Purchaser; provided that the materiality threshold in the preceding clause shall not be
applicable with respect to any representation or warranty which itself contains a materiality threshold and provided further, that any misrepresentation or certification for which Buyer has actually received a Purchase Price Credit
shall not constitute a Termination Event hereunder. 
  
 (d)
Failure of Originator to pay any Indebtedness when due in excess of $25,000,000 and such failure shall continue beyond the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness; or the default by
Originator in the performance of any term, provision or condition contained in any agreement under which any such Indebtedness was created or is governed (and such default shall continue for the applicable grace period, if any, under the applicable
agreement), the effect of which is to cause, or to permit the holder or holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity; or any such Indebtedness of Originator shall be declared to be due and
payable or required to be prepaid (other than by a regularly scheduled payment) prior to the date of maturity thereof. 
  
 (e) (i) An Event of Bankruptcy shall occur with respect to Originator. 
  
 (f) AmerisourceBergen shall cease to own and control, directly or indirectly, at least 100% of Originator. 
  
 (g) One or more final judgments for the payment of money in an amount in
excess of $25,000,000, individually or in the aggregate, shall be entered against Originator on claims not covered by insurance or as to which the insurance carrier has denied its responsibility, and such judgment shall continue unsatisfied and in
effect for fifteen (15) consecutive days without a stay of execution. 
  
 (h) An ERISA Event shall occur with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of Buyer, Originator or any ERISA Affiliates under the Internal Revenue Code or
Title IV of ERISA to such Pension Plan, such Multiemployer Plan or the PBGC in an aggregate amount in excess of $25,000,000. 
  
 (i) An Amortization Event shall have occurred. 
  
 (j) Originator becomes unable for any reason to convey or reconvey Receivables in accordance with the provisions of this Agreement. 
  
 (k) The Internal Revenue Service shall file notice of a lien pursuant to
Section 6323 of the Internal Revenue Code with regard to any of the Receivables, or any assets of Buyer, Originator or any Affiliate and the lien shall not have been released within seven (7) days. 
  
 Section 5.2 Remedies. Upon the occurrence and during the continuation
of a Termination Event, Buyer may take any of the following actions: (i) declare the Termination 

  

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Date to have occurred, whereupon the Termination Date shall forthwith occur, without demand, protest or further notice of any kind, all of which are hereby
expressly waived by Originator; provided, however, that upon the occurrence of a Termination Event described in Section 5.1(e), or of an actual or deemed entry of an order for relief with respect to Originator under the Federal
Bankruptcy Code, the Termination Date shall automatically occur, without demand, protest or any notice of any kind, all of which are hereby expressly waived by Originator and (ii) to the fullest extent permitted by applicable law, declare that the
Default Fee shall accrue with respect to any amounts then due and owing by Originator to Buyer. The aforementioned rights and remedies shall be without limitation and shall be in addition to all other rights and remedies of Buyer and its assigns
otherwise available under any other provision of this Agreement, by operation of law, at equity or otherwise, all of which are hereby expressly preserved, including, without limitation, all rights and remedies provided under the UCC, all of which
rights shall be cumulative. 
  
 ARTICLE 6 
  
 INDEMNIFICATION 
  
 Section 6.1 Indemnities by Originator. Without limiting any other
rights that Buyer may have hereunder or under applicable law, Originator hereby agrees to indemnify (and pay upon demand to) Buyer and its assigns, officers, directors, agents and employees (each an “Indemnified Party”) from
and against any and all damages, losses, claims, taxes, liabilities, costs, expenses and for all other amounts payable, including reasonable attorneys’ fees (which attorneys may be employees of Buyer or any such assign) and disbursements (all
of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any of them arising out of or as a result of this Agreement or the acquisition, either directly or indirectly, by Buyer
of an interest in the Receivables originated by Originator, excluding, however: 
  
 (a) Indemnified Amounts to the extent a final judgment of a court of competent jurisdiction holds that such Indemnified Amounts resulted from gross negligence or willful misconduct on the part of the Indemnified Party
seeking indemnification; 
  
 (b) Indemnified Amounts to the extent
the same includes losses in respect of Receivables originated by Originator that are uncollectible on account of the insolvency, bankruptcy or lack of creditworthiness of the related Obligor; or 
  
 (c) taxes imposed by the jurisdiction in which such Indemnified Party’s
principal executive office is located, on or measured by the overall net income of such Indemnified Party to the extent that the computation of such taxes is consistent with the characterization for income tax purposes of the acquisition by the
Purchasers of Receivable Interests under the Purchase Agreement as a loan or loans by the Purchasers to Buyer secured by, among other things, the Receivables originated by Originator, the Related Security and the Collections; 
  
 provided, however, that nothing contained in this sentence shall limit the
liability of Originator or limit the recourse of Buyer to Originator for amounts otherwise specifically provided to be 

  

 21 








 
paid by Originator under the terms of this Agreement. Without limiting the generality of the foregoing indemnification, but subject in each case to clauses
(a), (b) and (c) above, Originator shall indemnify Buyer for Indemnified Amounts relating to or resulting from: 
  
 (i) any representation or warranty made by Originator (or any officers of Originator) under or in connection with any Purchase Report,
this Agreement, any other Transaction Document or any other information or report delivered by Originator pursuant hereto or thereto for which Buyer has not received a Purchase Price Credit that shall have been false or incorrect when made or deemed
made; 
  
 (ii) the failure by Originator, to
comply with any applicable law, rule or regulation with respect to any Receivable or Contract related thereto, or the nonconformity of any Receivable or Contract included therein with any such applicable law, rule or regulation or any failure of
Originator to keep or perform any of its obligations, express or implied, with respect to any Contract; 
  
 (iii) any failure of Originator to perform its duties, covenants or other obligations in accordance with the provisions of this Agreement
or any other Transaction Document; 
  
 (iv) any
products liability, personal injury or damage, suit or other similar claim arising out of or in connection with merchandise, insurance or services that are the subject of any Contract or any Receivable; 
  
 (v) any dispute, claim, offset or defense (other than
discharge in bankruptcy of the Obligor) of the Obligor to the payment of any Receivable (including, without limitation, a defense based on such Receivable or the related Contract not being a legal, valid and binding obligation of such Obligor
enforceable against it in accordance with its terms), or any other claim resulting from the sale of the merchandise or service related to such Receivable or the furnishing or failure to furnish such merchandise or services; 
  
 (vi) the commingling of Collections of Receivables at any
time with other funds; 
  
 (vii) any
investigation, litigation or proceeding related to or arising from this Agreement or any other Transaction Document, the transactions contemplated hereby, Originator’s use of the proceeds of the Purchase from it hereunder, the ownership of the
Receivables originated by Originator or any other investigation, litigation or proceeding relating to Originator in which any Indemnified Party becomes involved as a result of any of the transactions contemplated hereby; 
  
 (viii) any inability to litigate any claim against any
Obligor in respect of any Receivable as a result of such Obligor being immune from civil and commercial law and suit on the grounds of sovereignty or otherwise from any legal action, suit or proceeding; 
  
 (ix) any Termination Event described in Section
5.1(b); 
  

 22 








 (x) any failure to vest and maintain vested in Buyer, or to transfer to Buyer, legal and
equitable title to, and ownership of, the Receivables originated by Originator and the associated Collections, and all of Originator’s right, title and interest in the Related Security associated with such Receivables, in each case, free and
clear of any Adverse Claim; 
  
 (xi) the failure
to have filed, or any delay in filing, financing statements or other similar instruments or documents under the UCC of any applicable jurisdiction or other applicable laws with respect to any Receivable originated by Originator, the Related Security
and Collections with respect thereto, and the proceeds of any thereof, whether at the time of the Purchase from Originator hereunder or at any subsequent time; 
  

(xii) any action or omission by Originator which reduces or impairs the rights of Buyer with respect to any Receivable or the value of
any such Receivable; 
  
 (xiii) any attempt by
any Person to void the Purchase from Originator hereunder under statutory provisions or common law or equitable action; and 
  
 (xiv) the failure of any Receivable reflected as an Eligible Receivable on any Purchase Report prepared by Originator to be an Eligible
Receivable at the time acquired by Buyer. 
  
 Section 6.2 Other
Costs and Expenses. Originator shall pay to Buyer on demand all reasonable costs and out-of-pocket expenses in connection with the preparation, execution, delivery and administration of this Agreement, the transactions contemplated hereby and
the other documents to be delivered hereunder. Originator shall pay to Buyer on demand any and all reasonable costs and expenses of Buyer, if any, including reasonable counsel fees and expenses in connection with the enforcement of this Agreement
and the other documents delivered hereunder and in connection with any restructuring or workout of this Agreement or such documents, or the administration of this Agreement following a Termination Event. 
  
 ARTICLE 7 
  
 MISCELLANEOUS 
  
 Section 7.1 Waivers and Amendments. 
  
 (a) No failure or delay on the part of Buyer (or its assigns) in exercising any power, right or remedy under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and
nonexclusive of any rights or remedies provided by law. Any waiver of this Agreement shall be effective only in the specific instance and for the specific purpose for which given. 
  
 (b) No provision of this Agreement may be amended, supplemented, modified or waived except in writing signed by Originator
and Buyer and, to the extent required under the Purchase Agreement, the Administrator, the Required Purchaser Agents and the Liquidity Banks or the Required Liquidity Banks. Any material amendment, supplement, modification of waiver will required
satisfaction of the Rating Agency Condition. 
  

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 Section 7.2 Notices. All communications and notices provided for hereunder shall be in writing
(including bank wire, telecopy or electronic facsimile transmission or similar writing) and shall be given to the other parties hereto at their respective addresses or telecopy numbers set forth on the signature pages hereof or at such other address
or telecopy number as such Person may hereafter specify for the purpose of notice to each of the other parties hereto. Each such notice or other communication shall be effective (a) if given by telecopy, upon the receipt thereof, (b) if sent via
U.S. certified or registered mail, five (5) Business Days after the time such communication is deposited in the mail with first class postage prepaid or (c) if given by any other means, when received at the address specified in this Section
7.2. 
  
 Section 7.3 Protection of Ownership Interests of
Buyer. 
  
 (a) Originator agrees that from time to time, at
its expense, it will promptly execute and deliver all instruments and documents, and take all actions, that may be necessary or desirable, or that Buyer (or its assigns) may request, to perfect, protect or more fully evidence the interest of Buyer
hereunder and the Receivable Interests, or to enable Buyer (or its assigns) to exercise and enforce their rights and remedies hereunder. At any time after the occurrence of a Termination Event, Buyer (or its assigns) may, at Originator’s sole
cost and expense, direct Originator to notify the Obligors of Receivables of the ownership interests of Buyer under this Agreement and may also direct that payments of all amounts due or that become due under any or all Receivables be made directly
to Buyer or its designee. 
  
 (b) If Originator fails to perform
any of its obligations under Section 13.3(a) of the Purchase Agreement and notice of such failure is given to Originator, Buyer (or its assigns) may (but shall not be required to) perform, or cause performance of, such obligations, and
Buyer’s (or such assigns’) costs and expenses incurred in connection therewith shall be payable by Originator as provided in Section 6.2. Originator irrevocably authorizes Buyer (and its assigns) at any time and from time to time in
the sole discretion of Buyer (or its assigns), and appoints Buyer (and its assigns) as its attorney(ies)-in-fact, to act on behalf of Originator (i) to execute on behalf of Originator as debtor and to file financing statements necessary or desirable
in Buyer’s (or its assigns’) sole discretion to perfect and to maintain the perfection and priority of the interest of Buyer in the Receivables originated by Originator and the associated Related Security and Collections and (ii) to file a
carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Receivables as a financing statement in such offices as Buyer (or its assigns) in their sole discretion deem necessary or desirable to
perfect and to maintain the perfection and priority of Buyer’s interests in such Receivables. Buyer shall provide Originator with copies of any such filings. This appointment is coupled with an interest and is irrevocable. If Originator fails
to perform any of its obligations hereunder: (A) Originator hereby authorizes Buyer (or its assigns) to file financing statements and other filing or recording documents with respect to the Receivables and Related Security (including any amendments
thereto, or continuation or termination statements thereof), without the signature or other authorization of Originator, in such form and in such offices as Buyer (or any of its assigns) reasonably determines appropriate to perfect or maintain the
perfection of the ownership or security interests of Buyer (or its assigns) hereunder, (B) Originator acknowledges and agrees 

  

 24 








 
that it is not authorized to, and will not, file financing statements or other filing or recording documents with respect to the Receivables or Related
Security (including any amendments thereto, or continuation or termination statements thereof), without the express prior written approval by the Administrator (as Buyer’s assignee), consenting to the form and substance of such filing or
recording document, and (C) Originator approves, authorizes and ratifies any filings or recordings made by or on behalf of the Administrator (as Buyer’s assign) in connection with the perfection of the ownership or security interests in favor
of Buyer or the Administrator (as Buyer’s assign). 
  
 Section 7.4 Confidentiality. 
  
 (a) Originator
and Buyer shall maintain and shall cause each of its employees and officers to maintain the confidentiality of the Fee Letter and the other confidential or proprietary information with respect to the Administrator and the Purchasers and their
respective businesses obtained by it or them in connection with the structuring, negotiating and execution of the transactions contemplated herein, except that Originator and its officers and employees may disclose such information to
Originator’s external accountants, attorneys and other advisors and as required by any applicable law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceeding (whether or not having
the force or effect of law). 
  
 (b) Originator hereby consents to
the disclosure of any nonpublic information with respect to it in connection with the transactions contemplated herein (i) to Buyer, the Administrator, the Liquidity Banks, the Purchasers or the Purchaser Agents by each other, (ii) to any
prospective or actual assignee or participant of any of the Persons described in clause (i), and (iii) to any rating agency, Commercial Paper dealer or provider of a surety, guaranty or credit or liquidity enhancement to any Purchaser or any entity
organized for the purpose of purchasing, or making loans secured by, financial assets for which Wachovia acts as the administrative agent and to any officers, directors, employees, outside accountants and attorneys of any of the foregoing,
provided each such Person described in the foregoing clauses (ii) and (iii) is informed of the confidential nature of such information. In addition, the Purchasers, the Purchaser Agents and the Administrator may disclose any such
nonpublic information pursuant to any law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 
  
 Section 7.5 Bankruptcy Petition. 
  
 (a) Originator and Buyer each hereby covenants and agrees that, prior to the
date that is one year and one day after the payment in full of all outstanding senior indebtedness of the Conduit Purchasers, it will not institute against, or join any other Person in instituting against, any Conduit Purchaser any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States. 
  
 (b) Originator covenants and agrees that, prior to the date that is one year and one day after the payment in full of all
outstanding obligations of Buyer under the Purchase Agreement, it will not institute against, or join any other Person in instituting against, Buyer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar
proceeding under the laws of the United States or any state of the United States. 
  

 25 








 Section 7.6 Limitation of Liability. Except with respect to any claim arising out of the willful
misconduct or gross negligence of Originator, Buyer, any Purchaser, the Administrator, any Purchaser Agent or any Liquidity Bank, no claim may be made by any such Person (or its Affiliates, directors, officers, employees, attorneys or agents)
against any such other Person (or its Affiliates, directors, officers, employees, attorneys or agents) for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability
arising out of or related to the transactions contemplated by this Agreement, or any act, omission or event occurring in connection therewith; and each of the parties hereto, on behalf of itself and its Affiliates, directors, officers, employees,
attorneys, agents, successors and assigns, hereby waives, releases, and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 
  
 Section 7.7 CHOICE OF LAW. THIS AGREEMENT SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK. 
  
 Section 7.8 CONSENT TO JURISDICTION. ORIGINATOR HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL COURT
SITTING IN THE SOUTHERN DISTRICT OF NEW YORK OR ANY NEW YORK STATE COURT SITTING IN NEW YORK COUNTY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO THIS AGREEMENT AND
ORIGINATOR HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF BUYER (OR ITS ASSIGNS) TO BRING PROCEEDINGS AGAINST ORIGINATOR IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING
BY ORIGINATOR AGAINST BUYER (OR ITS ASSIGNS) OR ANY AFFILIATE THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO THIS
AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK. 
  
 Section 7.9 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER. 
  

 26 








 Section 7.10 Integration; Binding Effect; Survival of Terms. 
  
 (a) This Agreement and each other Transaction Document contain the final and
complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or
written understandings. 
  
 (b) This Agreement shall be binding
upon and inure to the benefit of the Originator, Buyer and their respective successors and permitted assigns (including any trustee in bankruptcy). Originator may not assign any of its rights and obligations hereunder or any interest herein without
the prior written consent of Buyer. Buyer may assign at any time its rights and obligations hereunder and interests herein to any other Person without the consent of Originator. Without limiting the foregoing, Originator acknowledges that Buyer,
pursuant to the Purchase Agreement, may assign to the Administrator, for the benefit of the Purchasers, its rights, remedies, powers and privileges hereunder and that the Administrator may further assign such rights, remedies, powers and privileges
to the extent permitted in the Purchase Agreement. Originator agrees that the Administrator, as the assignee of Buyer, shall, subject to the terms of the Purchase Agreement, have the right to enforce this Agreement and to exercise directly all of
Buyer’s rights and remedies under this Agreement (including, without limitation, the right to give or withhold any consents or approvals of Buyer to be given or withheld hereunder) and Originator agrees to cooperate fully with the Administrator
in the exercise of such rights and remedies. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms and shall remain in full force and effect until terminated in accordance with its
terms; provided, however, that the rights and remedies with respect to (i) any breach of any representation and warranty made by Originator pursuant to Article II; (ii) the indemnification and payment provisions of Article
VI; and (iii) Section 7.5 shall be continuing and shall survive any termination of this Agreement. 
  
 Section 7.11 Counterparts; Severability; Section References. This Agreement 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 when taken together shall constitute one and the same Agreement. Any provisions of this Agreement which are prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Unless otherwise expressly indicated, all references herein to “Article,”
“Section,” “Schedule” or “Exhibit” shall mean articles and sections of, and schedules and exhibits to, this Agreement. 
  

 27 








 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

	 AMERISOURCEBERGEN DRUG CORPORATION

	
	 By:


	 Name:
	 	 
	 Title:
	 	 
		
	 Address:
	 	 AmerisourceBergen Drug
 Corporation
 1300 Morris Drive
 Chesterbrook, PA 19087

	 	 	 Attention:      Jack Quinn

	 	 	 Telephone:    (610) 727-7116

	 	 	 Facsimile:       (610) 727-3639

	
	AMERISOURCE RECEIVABLES FINANCIAL CORPORATION
	
	 By:


	 Name:
	 	 
	 Title:
	 	 
		
	 Address:
	 	 Amerisource Receivables Financial
 Corporation
 P. O. Box 1735
 Southeastern, PA 19399

	 	 	 Attention:      Jack Quinn

	 	 	 Telephone:    (610) 727-7453

	 	 	 Facsimile:       (610) 727-3639



  


	 	 	S-1	 	 Receivables Sale Agreement










 Exhibit I 
  

Definitions 
  
 This is Exhibit I to the Agreement (as hereinafter defined). As used in the Agreement and the Exhibits and Schedules thereto, capitalized terms have the
meanings set forth in this Exhibit I (such meanings to be equally applicable to the singular and plural forms thereof). If a capitalized term is used in the Agreement, or any Exhibit or Schedule thereto, and is not otherwise defined therein or
in this Exhibit I, such term shall have the meaning assigned thereto in Exhibit I to the Purchase Agreement (hereinafter defined). 
  
 “Administrator” has the meaning set forth in the Preliminary Statements to the Agreement. 
  
 “Agreement” means the Receivables Sale Agreement,
dated as of July 10, 2003, between Originator and Buyer, as the same may be amended, restated or otherwise modified. 
  
 “AmerisourceBergen” shall mean AmerisourceBergen Corporation, a Delaware corporation. 
  
 “Buyer” has the meaning set forth in the preamble to
the Agreement. 
  
 “Calculation Period”
means each calendar month or portion thereof which elapses during the term of the Agreement. The first Calculation Period shall commence on the date of the Purchases hereunder and the final Calculation Period shall terminate on the Termination Date.

  
 “Credit and Collection Policy” means
the Originator’ credit and collection policies and practices relating to Contracts and Receivables existing on the date hereof and summarized in Exhibit V, as modified from time to time in accordance with the Agreement.

  
 “Default Fee” means a per annum
rate of interest equal to the sum of (i) the Prime Rate, plus (ii) 2% per annum. 
  
 “Discount Factor” means a percentage calculated to provide Buyer with a reasonable return on its investment in the Receivables originated by Originator after taking account of (i) the time
value of money based upon the anticipated dates of collection of such Receivables and the cost to Buyer of financing its investment in such Receivables during such period and (ii) the risk of nonpayment by the Obligors. Originator and Buyer may
agree from time to time to change the Discount Factor based on changes in one or more of the items affecting the calculation thereof, provided that any change to the Discount Factor shall take effect as of the commencement of a
Calculation Period, shall apply only prospectively and shall not affect the Purchase Price payment made prior to the Calculation Period during which Originator and Buyer agree to make such change. As of the date hereof, the Discount Factor is 0.2%.

  
 “Equity Interests” means, with respect
to any Person, any and all shares, interests, participations or other equivalents, including membership interests (however 

  

 I-1 








 
designated, whether voting or non-voting), of capital of such Person, including, if such Person is a partnership, partnership interests (whether general or
limited) and any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, such partnership, whether outstanding on the date hereof or issued after the date of
this Agreement. 
  
 “ERISA” means the
Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder. 
  
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with Originator within the
meaning of Section 414(b) or (c) of the Internal Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions relating to Section 412 of the Internal Revenue Code). 
  
 “ERISA Event” means a Reportable Event with respect
to a Pension Plan; (b) a complete or partial withdrawal from a Multiemployer Plan that would result in liability to the Originator or any ERISA Affiliate, or the receipt or delivery by Originator or any ERISA Affiliate of any notice with respect to
any Multiemployer Plan concerning the imposition of liability as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA; (c) a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; (d) the filing pursuant to Code Section 412 or ERISA Section 302 of an application for a waiver of the minimum funding standard, or
the grant of same, with respect to a Pension Plan; (e) the PBGC or a plan administrator shall, or shall indicate its intention in writing to the Buyer, Originator or any ERISA Affiliate to, terminate any Pension Plan or appoint a trustee to
administer any Pension Plan; (f) the Originator or any ERISA Affiliate incurs liability under Title IV of ERISA with respect to the termination of any Pension Plan; or (g) the existence of an accumulated funding deficiency with respect to any
Pension Plan (as defined in Section 302(a) of ERISA and Section 412(a) of the Internal Revenue Code), whether or not waived. 
  
 “Indemnified Party” has the meaning set forth in Section 6.1. 
  
 “Initial Contributed Receivables” has the meaning set forth in Section 1.1. 
  
 “Initial Cutoff Date” has the meaning set forth in
Section 1.1. 
  
 “Law” shall mean
any law (including common law), constitution, statute, treaty, regulation, rule, ordinance, order, injunction, writ, decree or award of any Official Body. 
  
 “Lien”, in respect of the property of any Person, shall mean any ownership interest of any other Person, any mortgage, deed of
trust, hypothecation, pledge, lien, security interest, filing of any financing statement, charge or other encumbrance or security arrangement of any nature whatsoever, including, without limitation, any conditional sale or title retention
arrangement, and any assignment, deposit arrangement, consignment or lease intended as, or having the effect of, security. 
  
 “Multiemployer Plan” means a “multiemployer plan”, within the meaning of Section 4001 (a) (3) of ERISA, to which
Originator or any ERISA Affiliate makes, is making, or is obligated to make contributions or, during the preceding three calendar years, has made, or been obligated to make, contributions. 
  

 I-2 








 “Net Worth” means as of the last Business Day of each Calculation Period
preceding any date of determination, the excess, if any, of (a) the aggregate Outstanding Balance of the Receivables at such time, over (b) the sum of (i) the Aggregate Invested Amount outstanding at such time, plus (ii)
the aggregate outstanding principal balance of the Subordinated Loans (including any Subordinated Loan proposed to be made on the date of determination). 
  
 “Official Body” shall mean any government or political subdivision or any agency, authority, bureau, central bank, commission,
department or instrumentality of either, or any court, tribunal, grand jury or arbitrator, in each case whether foreign or domestic. 
  
 “Organizational Documents” means, for any Person, the documents for its formation and organization, which, for example, (a) for a
corporation are its corporate charter and bylaws, (b) for a partnership are its certificate of partnership (if applicable) and partnership agreement, (c) for a limited liability company are its certificate of formation or organization and its
operating agreement, regulations or the like and (d) for a trust is the trust agreement, declaration of trust, indenture or bylaws under which it is created. 
  
 “Original Balance” means, with respect to any Receivable coming into existence after the Initial Cutoff Date, the Outstanding
Balance of such Receivable on the date it was created. 
  
 “Originator” has the meaning set forth in the preamble to the Agreement. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto. 
  
 “Pension Plan” means a pension plan (as defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, subject to Title IV of ERISA which Originator or any ERISA Affiliate of Originator sponsors or maintains, or to which Originator or any of its ERISA Affiliates makes, is making, or is
obligated to make contributions, or in the case of a multiple employer plan (as described in Section 4064(a) of ERISA) has made contributions at any time during the immediately preceding five plan years. 
  
 “Plan” means an employee benefit plan (as defined in
Section 3(3) of ERISA) which Originator or any of its ERISA Affiliates sponsors or maintains or to which Originator or any of its ERISA Affiliates makes, is making, or is obligated to make contributions and includes any Pension Plan, other than a
Plan maintained outside the United States primarily for the benefit of Persons who are not U.S. residents. 
  
 “Purchase” means the purchase by Buyer from Originator pursuant to Section 1.2(a) of the Agreement of the Receivables
originated by Originator and the Related Security and Collections related thereto, together with all related rights in connection therewith. 
  

 I-3 








 “Purchase Agreement” has the meaning set forth in the Preliminary Statements to
the Agreement. 
  
 “Purchase Price” means,
with respect to the Purchase from Originator, the aggregate price to be paid by Buyer to Originator for such Purchase in accordance with Section 1.3 of the Agreement for the Receivables originated by Originator and the associated Collections
and Related Security being sold to Buyer, which price shall equal on any date (i) the product of (x) the Outstanding Balance of such Receivables on such date, multiplied by (y) one minus the Discount Factor in effect on
such date, minus (ii) any Purchase Price Credits to be credited against the Purchase Price otherwise payable in accordance with Section 1.4 of the Agreement. 
  
 “Purchase Price Credit” has the meaning set forth in Section 1.4 of the Agreement.

  
 “Purchase Report” has the meaning set
forth in Section 1.2(b) of the Agreement. 
  
 “Purchased Assets” has the meaning set forth in Section 2.1(c) of the Agreement. 
  
 “Purchaser” has the meaning set forth in the Preliminary Statements to the Agreement. 
  
 “Receivable” means all indebtedness and other
obligations owed to Originator (at the times it arises, and before giving effect to any transfer or conveyance under the Agreement) or to Buyer (after giving effect to the transfers under the Agreement) (including, without limitation, any
indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible) arising in connection with the sale of goods or the rendering of services by Originator, and further includes, without limitation, the
obligation to pay any Finance Charges with respect thereto. Indebtedness and other rights and obligations arising from any one transaction, including, without limitation, indebtedness and other rights and obligations represented by an individual
invoice, shall constitute a Receivable separate from a Receivable consisting of the indebtedness and other rights and obligations arising from any other transaction; provided, further, that any indebtedness, rights or
obligations referred to in the immediately preceding sentence shall be a Receivable regardless or whether the account debtor or Originator treats such indebtedness, rights or obligations as a separate payment obligation. 
  
 “Related Security” means, with respect to any
Receivable: 
  
 (i) all of Originator’s
interest in the Related Equipment or other inventory and goods (including returned or repossessed inventory or goods), if any, the sale, financing or lease of which by Originator gave rise to such Receivable, and all insurance contracts with respect
thereto, 
  
 (ii) all other security interests or
liens and property subject thereto from time to time, if any, purporting to secure payment of such Receivable, whether pursuant to the Contract related to such Receivable or otherwise, together with all financing statements and security agreements
describing any collateral securing such Receivable, 
  

 I-4 








 (iii) all guaranties, letters of credit, insurance and other agreements or arrangements
of whatever character from time to time supporting or securing payment of such Receivable whether pursuant to the Contract related to such Receivable or otherwise, 
  
 (iv) all service contracts and other contracts and agreements associated with such Receivable, 

 
 (v) all Records related to such Receivable, 

 
 (vi) all of Originator’s right, title and interest
in each Lock-Box and each Collection Account, and 
  
 (vii) all proceeds of any of the foregoing. 
  
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice requirement under ERISA has been waived in
regulations issued by the PBGC. 
  
 “Required Capital
Amount” means, as of any date of determination, an amount equal to the greater of (a) 3% of the Purchase Limit under the Purchase Agreement, and (b) the product of (i) 2.0 times the product of the Default Ratio times the Default Horizon
Ratio, each as determined from the most recent Monthly Report received from the Servicer under the Purchase Agreement, and (ii) the Outstanding Balance of all Receivables as of such date, as determined from the most recent Monthly Report received
from the Servicer under the Purchase Agreement. 
  
 “Settlement Date” means the second Business Day after each Settlement Reporting Date. 
  
 “Subordinated Loan” has the meaning set forth in Section 1.3(a) of the Agreement. 
  
 “Subordinated Note” means a promissory note in
substantially the form of Exhibit VI hereto as more fully described in Section 1.3 of the Agreement, as the same may be amended, restated, supplemented or otherwise modified from time to time. 
  
 “Termination Date” means the earliest to occur of (i)
the Facility Termination Date (as defined in the Purchase Agreement), (ii) the Business Day immediately prior to the occurrence of a Termination Event set forth in Section 5.1(b), (iii) the Business Day specified in a written notice from
Buyer to the Originator following the occurrence of any other Termination Event, and (iv) the date which is 10 Business Days after Buyer’s receipt of written notice from Originator that it wishes to terminate the facility evidenced by this
Agreement. 
  
 “Termination Event” has the
meaning set forth in Section 5.1 of the Agreement. 
  
 “Transaction Documents” means, collectively, this Agreement, each Collection Account Agreement, the Subordinated Note, and all other instruments, documents and agreements executed and delivered in connection herewith
by Originator or Buyer. 
  

 I-5 








 “Unmatured Termination Event” means an event which, with the passage of time or
the giving of notice, or both, would constitute a Termination Event. 
  
 All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such
Article 9. 
  

 I-6 








 Exhibit II 
  
 Places of Business; Locations of Records; 
 Federal Employer Identification Number(s); Other Names 
  
 Places of Business: 
  
 Locations of Records:

  
 Federal Employer Identification Number: 
  
 Legal, Trade and Assumed Names: 
  

 II-1 








 Exhibit III 
  
 Lock-boxes; Collection Accounts; Collection Banks 
  
 (attached) 
  

 III-1 








 Exhibit IV 
  
 Form of Compliance Certificate 
  
 This Compliance Certificate is furnished pursuant to that certain Receivables Sale Agreement dated as of July 10, 2003,
among AmerisourceBergen Drug Corporation and Amerisource Receivables Financial Corporation (the “Agreement”). Capitalized terms used and not otherwise defined herein are used with the meanings attributed thereto in the
Agreement. 
  
 THE UNDERSIGNED HEREBY CERTIFIES THAT:

  
 1. I am the duly elected
                     of
                     (“Originator”). 
  
 2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed
review of the transactions and conditions of Originator and its Subsidiaries during the accounting period covered by the attached financial statements. 
  
 3. The examinations described in paragraph 2 did not disclose, and I have no knowledge of, the existence of any condition or event which constitutes a
Termination Event or an Unmatured Termination Event, as each such term is defined under the Agreement, during or at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate[, except
as set forth below]. 
  
 4. [Described below are the
exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition or event, the period during which it has existed and the action which Originator has taken, is taking, or proposes to take with respect to each such condition or
event:                                 ]. 
  
 The foregoing certifications, together with the computations set forth in
Schedule I hereto, are made and delivered this      day of                     , 200    
.. 
  

	
	
 [Name]



  

 IV-1 








 Exhibit V 
  
 Credit and Collection Policy 
  

[attach copy] 
  

 V-1 








 Exhibit VI 
  
 Form of Subordinated Note 
  
 SUBORDINATED NOTE 
  
                     , 200     
  
 1. Note. FOR VALUE RECEIVED, the undersigned, Amerisource Receivables
Financial Corporation, a Delaware corporation (“SPV”), hereby unconditionally promises to pay to the order of [ORIGINATOR NAME], a(n)
             ***[corporation] [limited liability company] [partnership]*** (“Originator”), in lawful money of the
United States of America and in immediately available funds, on or before the date following the Termination Date which is one year and one day after the date on which (i) the Outstanding Balance of all Receivables sold by Originator under the
“Sale Agreement” referred to below has been reduced to zero and (ii) Originator has paid to Buyer all indemnities, adjustments and other amounts which may be owed thereunder in connection with the Purchase
thereunder (the “Collection Date”), the aggregate unpaid principal sum outstanding of all “Subordinated Loans” made from time to time by Originator to SPV pursuant to and in accordance
with the terms of that certain Receivables Sale Agreement dated as of July 10, 2003 among Originator and certain of its affiliates, as sellers, and SPV, as buyer (as amended, restated, supplemented or otherwise modified from time to time, the
“Sale Agreement”). Reference to Section 1.3 of the Sale Agreement is hereby made for a statement of the terms and conditions under which the loans evidenced hereby have been and will be made. All terms which are
capitalized and used herein and which are not otherwise specifically defined herein shall have the meanings ascribed to such terms in the Sale Agreement. 
  
 2. Interest. SPV further promises to pay interest on the outstanding unpaid principal amount hereof from the date hereof until payment in full
hereof at a rate equal to the 1-month LIBOR rate published in The Wall Street Journal on the first Business Day of each month (or portion thereof) during the term of this Subordinated Note, computed for actual days elapsed on the basis
of a year consisting of 360 days and changing on the first business day of each month hereafter (“LIBOR”); provided, however, that if SPV shall default in the payment of any principal hereof, SPV promises to
pay, on demand, interest at the rate equal to LIBOR plus 2.00% per annum on any such unpaid amounts, from the date such payment is due to the date of actual payment. Interest shall be payable on the first Business Day of each month in
arrears; provided, however, that SPV may elect on the date any interest payment is due hereunder to defer such payment and upon such election the amount of interest due but unpaid on such date shall constitute principal under this
Subordinated Note. The outstanding principal of any loan made under this Subordinated Note shall be due and payable on the Collection Date and may be repaid or prepaid at any time without premium or penalty. 
  
 3. Principal Payments. Originator is authorized and directed by SPV to
enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest
error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the
obligations of SPV hereunder. 
  

 VI-1 








 4. Subordination. Originator shall have the right to receive, and SPV shall make, any and all
payments and prepayments relating to the loans made under this Subordinated Note provided that, after giving effect to any such payment or prepayment, the aggregate Outstanding Balance of Receivables (as each such term is defined in
the Purchase Agreement hereinafter referred to) owned by SPV at such time exceeds the sum of (a) the Aggregate Unpaids (as defined in the Purchase Agreement) outstanding at such time under the Purchase Agreement, plus (b) the aggregate outstanding
principal balance of all loans made under this Subordinated Note. Originator hereby agrees that at any time during which the conditions set forth in the proviso of the immediately preceding sentence shall not be satisfied, Originator shall be
subordinate in right of payment to the prior payment of any indebtedness or obligation of SPV owing to the Administrator or any Purchaser under that certain Receivables Purchase Agreement dated as of July 10, 2003 by and among SPV, AmerisourceBergen
Drug Corporation, as initial Servicer (the “Servicer”), various Purchaser Groups from time to time party thereto, and Wachovia Bank, N.A., as the “Administrator” (as amended, restated,
supplemented or otherwise modified from time to time, the “Purchase Agreement”). The subordination provisions contained herein are for the direct benefit of, and may be enforced by, the Administrator and the Purchasers and/or
any of their respective assignees (collectively, the “Senior Claimants”) under the Purchase Agreement. Until the date on which the “Aggregate Invested Amount” outstanding under the Purchase Agreement has been repaid
in full and all other obligations of SPV and/or the Servicer thereunder and under the “Fee Letter” referenced therein (all such obligations, collectively, the “Senior Claim”) have been
indefeasibly paid and satisfied in full, Originator shall not institute against SPV any proceeding of the type described in Section 5.1(b) of the Sale Agreement unless and until the Collection Date has occurred. Should any payment,
distribution or security or proceeds thereof be received by Originator in violation of this Section 4, Originator agrees that such payment shall be segregated, received and held in trust for the benefit of, and deemed to be the property of, and
shall be immediately paid over and delivered to the Administrator for the benefit of the Senior Claimants. 
  
 5. Bankruptcy; Insolvency. Upon the occurrence of any proceeding of the type described in Section 5.1(b) of the Sale Agreement involving SPV
as debtor, then and in any such event the Senior Claimants shall receive payment in full of all amounts due or to become due on or in respect of the Aggregate Invested Amount and the Senior Claim (including
“Yield” as defined and as accruing under the Purchase Agreement after the commencement of any such proceeding, whether or not any or all of such Yield is an allowable claim in any such proceeding) before
Originator is entitled to receive payment on account of this Subordinated Note, and to that end, any payment or distribution of assets of SPV of any kind or character, whether in cash, securities or other property, in any applicable insolvency
proceeding, which would otherwise be payable to or deliverable upon or with respect to any or all indebtedness under this Subordinated Note, is hereby assigned to and shall be paid or delivered by the Person making such payment or delivery (whether
a trustee in bankruptcy, a receiver, custodian or liquidating trustee or otherwise) directly to the Administrator for application to, or as collateral for the payment of, the Senior Claim until such Senior Claim shall have been paid in full and
satisfied. 
  

 VI-2 








 6. Amendments. This Subordinated Note shall not be amended or modified except in accordance with
Section 7.1 of the Sale Agreement. The terms of this Subordinated Note may not be amended or otherwise modified without the prior written consent of the Administrator for the benefit of the Purchasers. 
  
 7. GOVERNING LAW. THIS SUBORDINATED NOTE HAS BEEN MADE AND DELIVERED
AT NEW YORK, NEW YORK, AND SHALL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE LAWS AND DECISIONS OF THE STATE OF NEW YORK. WHEREVER POSSIBLE EACH PROVISION OF THIS SUBORDINATED NOTE SHALL BE
INTERPRETED IN SUCH MANNER AS TO BE EFFECTIVE AND VALID UNDER APPLICABLE LAW, BUT IF ANY PROVISION OF THIS SUBORDINATED NOTE SHALL BE PROHIBITED BY OR INVALID UNDER APPLICABLE LAW, SUCH PROVISION SHALL BE INEFFECTIVE TO THE EXTENT OF SUCH
PROHIBITION OR INVALIDITY, WITHOUT INVALIDATING THE REMAINDER OF SUCH PROVISION OR THE REMAINING PROVISIONS OF THIS SUBORDINATED NOTE. 
  
 8. Waivers. All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of
dishonor. Originator additionally expressly waives all notice of the acceptance by any Senior Claimant of the subordination and other provisions of this Subordinated Note and expressly waives reliance by any Senior Claimant upon the subordination
and other provisions herein provided. 
  
 9. Assignment.
This Subordinated Note may not be assigned, pledged or otherwise transferred to any party other than Originator without the prior written consent of the Administrator, and any such attempted transfer shall be void. 
  

	AMERISOURCE RECEIVABLES FINANCIAL CORPORATION
		
	 By:
	 	  


	 	 	 Title:



  

 VI-3 








 Schedule 
 to 
 SUBORDINATED NOTE 
 SUBORDINATED LOANS AND PAYMENTS OF PRINCIPAL 
  

	 DATE

	 	 AMOUNT OF
 SUBORDINATED
 LOAN

	 	 AMOUNT OF
 PRINCIPAL
 PAID

	 	 UNPAID
 PRINCIPAL
 BALANCE

	 	 NOTATION MADE
 BY (INITIALS)


	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

 VI-4 








 Exhibit VII 
  
 [Form of] Purchase Report 
  
 For the Calculation Period beginning [date] and ending [date] 
  

  
 TO: BUYER AND THE ADMINISTRATOR (AS
BUYER’S ASSIGNEE) 
  

	 Aggregate Receivables generated and sold during the period:
	  	$	 	  	 	 	  	A
	 Less: Purchase Price discount during the Period:
	  	$	(            )	  	 	 	  	(B)
	 Equals: Gross Purchase Price payable during the period (A – B)
	  	 	 	  	$	 	  	=C
	 Less: Total Purchase Price Credits arising during the period:
	  	$	(            )	  	 	 	  	(D)
	 Equals: Net Purchase Price payable during the period (C - D):
	  	 	 	  	$	 	  	=E
				
	 Cash Purchase Price Paid to Originator during the period:
	  	$	 	  	 	 	  	F
	 Subordinated Loans made during the period:
	  	$	 	  	 	 	  	G
	 Less: Repayments of Subordinated Loans received during the period:
	  	$	(            )	  	 	 	  	(H)
	 Equals: Purchase Price paid in cash or Subordinated Loans during the period (F + G – H):
	  	 	 	  	$	            	  	=I
	 Aggregate Outstanding Balance of Receivables contributed during the period:
	  	$	            	  	 	 	  	J

  

 VII-1 








 Exhibit VIII 
  
 Pending or Threatened Actions, Suits, Investigations of Proceedings 
  

 VIII-1 








 Schedule A 
  
 DOCUMENTS TO BE DELIVERED TO BUYER 
 ON OR PRIOR TO THE PURCHASE 
  

	1.	Executed copies of the Receivables Sale Agreement, duly executed by the parties thereto. 

  

	2.	Copy of the Credit and Collection Policy to attach to the Receivables Sale Agreement as an Exhibit. 

  

	3.	A certificate of Originator’s Secretary certifying: 

  
 (a) A copy of the Resolutions of the Board of Directors of Originator, authorizing Originator’s execution, delivery and performance
of the Receivables Sale Agreement and the other documents to be delivered by it thereunder; 
  
 (b) A copy of the Organizational Documents of Originator (also certified, to the extent that such documents are filed with any
governmental authority, by the Secretary of State of the jurisdiction of organization of Originator on or within thirty (30) days prior to closing); 
  
 (c) Good Standing Certificates for Originator issued by the Secretary of State of its state of incorporation and each jurisdiction where
it has material operations; and 
  
 (d) The names
and signatures of the officers authorized on its behalf to execute the Receivables Sale Agreement and any other documents to be delivered by it thereunder. 
  

	4.	Pre-filing state and federal tax lien, judgment lien and UCC lien searches against Originator from the following jurisdictions: 

  
 (a) California 
  
 (b) Delaware 
  
 (c) Massachusetts 
  
 (d) Missouri 
  
 (e) Nevada 
  
 (f) Pennsylvania 
  
 (g) Tennessee 
  

	5.	Time stamped receipt copies of proper financing statements, duly filed under the UCC on or before the date of the initial Purchase (as defined in the Receivables Sale Agreement) in
all jurisdictions as may be necessary or, in the opinion of Buyer (or its assigns), desirable, under the UCC of all appropriate jurisdictions or any comparable law in order to perfect the ownership interests contemplated by the Receivables Sale
Agreement. 

  

 A-1 









	6.	Time stamped receipt copies of proper UCC termination statements, if any, necessary to release all security interests and other rights of any Person in the Receivables, Contracts or
Related Security previously granted by Originator. 

  

	7.	Executed Collection Account Agreements for each Lock-Box and Collection Account. 

  

	8.	A favorable opinion of legal counsel for Originator licensed to give opinions under New York law reasonably acceptable to Buyer (and the Administrator, as Buyer’s assignee) as
to the following: 

  
 (a)
Originator is a Delaware corporation duly organized, validly existing, and in good standing under the laws of the state of Delaware. 
  
 (b) Originator has all requisite authority to conduct its business in each jurisdiction where failure to be so qualified would have a
material adverse effect on Originator’s business. 
  
 (c) The execution and delivery by Originator of the Receivables Sale Agreement and each other Transaction Document to which it is a party and its performance of its obligations thereunder have been duly authorized by all necessary
organizational action and proceedings on the part of Originator and will not: 
  
 (i) require any action by or in respect of, or filing with, any governmental body, agency or official (other than the filing of UCC financing statements); 
  
 (ii) contravene, or constitute a default under, any provision of applicable law or regulation or of its
articles or certificate of incorporation or bylaws or of any agreement, judgment, injunction, order, decree or other instrument binding upon Originator; or 
  
 (iii) result in the creation or imposition of any Adverse Claim on assets of Originator or any of its Subsidiaries (except as contemplated
by the Receivables Sale Agreement). 
  
 (d) The
Receivables Sale Agreement and each other Transaction Document to which it is a party has been duly executed and delivered by Originator and constitutes the legally valid, and binding obligation of Originator enforceable in accordance with its
terms, except to the extent the enforcement thereof may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally and subject also to the availability of equitable remedies if equitable
remedies are sought. 
  
 (e) In the event that
the receivables Sale Agreement is held to create a transfer for security purposes rather than a true sale or other outright assignment, the provisions of the Receivables Sale Agreement are effective to create valid security interests in favor of
Buyer in all of Originator’s right, title and interest in and to the Receivables and 

  

 A-2 








 
Related Security described therein which constitute “accounts,” “chattel paper” or “general intangibles” (each as defined in
the UCC) (collectively, the “Opinion Collateral”), as security for the payment of a loan deemed to have been made by Buyer to Originator in an amount equal to the Purchase Price (as defined therein) of the Receivables (as
defined therein) acquired from Originator, together with all other obligations of Originator thereunder. 
  
 (f) Each of the UCC-1 Financing Statements naming Originator as debtor, Buyer, as secured party, and Administrator, as assignee of secured
party to be filed with the Secretary of State of Delaware, is in appropriate form for filing therein. Upon filing of such UCC-1 Financing Statements in such filing offices and payment of the required filing fees, the security interest in favor of
Buyer in the Opinion Collateral will be perfected and assigned of record to the Administrator. 
  
 (g) Based solely on our review of the UCC Search Reports described in Paragraph 4 to this Schedule A, and assuming (i) the filing of the
Financing Statements and payment of the required filing fees in accordance with paragraph (f) and (ii) the absence of any intervening filings between the date and time of the Search Reports and the date and time of the filing of the Financing
Statements, the security interest of Buyer in the Opinion Collateral is prior to any security interest granted in the Opinion Collateral by Originator, the priority of which is determined solely by the filing of a financing statement in the
appropriate filing offices. 
  
 (h) To the best
of the opinion giver’s knowledge, there is no action, suit or other proceeding against Originator or any Affiliate of Originator, which would materially adversely affect the business or financial condition of Originator and its Affiliates taken
as a whole or which would materially adversely affect the ability of Originator to perform its obligations under the Receivables Sale Agreement. 
  
 (i) Originator is not an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

  

	9.	A “true sale” opinion and “substantive consolidation” opinion of counsel for Originator with respect to the transactions contemplated
by the Receivables Sale Agreement. 

  

	10.	A Certificate of Originator’s Vice President and Corporate Treasurer certifying that, as of the closing date, no Termination Event or Unmatured Termination Event exists and is
continuing. 

  

	11.	Executed copies of (i) all consents from and authorizations by any Persons and (ii) all waivers and amendments to existing credit facilities, that are necessary in connection with
the Receivables Sale Agreement. 

  

	12.	Executed Subordinated Note by Buyer in favor of Originator. 

  

	13.	If applicable, a direction letter executed by Originator authorizing Buyer (and the Administrator, as its assignee) and directing warehousemen to allow Buyer (and the Administrator,
as its assignee) to inspect and make copies from Originator’s books and records maintained at off-site data processing or storage facilities. 

  


 A-3