EX-10.2



 










Exhibit 10.2




GUARANTEE AND COLLATERAL AGREEMENT




dated and effective as of




April 2, 2007






among




CELANESE HOLDINGS LLC,




CELANESE US HOLDINGS LLC,




CELANESE AMERICAS CORPORATION,




THE OTHER GUARANTOR SUBSIDIARIES




and




DEUTSCHE BANK AG, NEW YORK BRANCH,

as Collateral Agent





 









 








TABLE OF CONTENTS




	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	ARTICLE I.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Definitions	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1.01.
	 	Credit Agreement	 	 	1	 
	SECTION 1.02.
	 	Other Defined Terms	 	 	1	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE II.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Guarantee	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 2.01.
	 	Guarantee	 	 	5	 
	SECTION 2.02.
	 	Guarantee of Payment	 	 	5	 
	SECTION 2.03.
	 	No Limitations, etc.	 	 	6	 
	SECTION 2.04.
	 	Reinstatement	 	 	8	 
	SECTION 2.05.
	 	Agreement to Pay; Subrogation	 	 	8	 
	SECTION 2.06.
	 	Information	 	 	8	 
	SECTION 2.07.
	 	Maximum Liability	 	 	8	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE III.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Pledge of Securities	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 3.01.
	 	Pledge	 	 	9	 
	SECTION 3.02.
	 	Delivery of the Pledged Collateral	 	 	10	 
	SECTION 3.03.
	 	Representations, Warranties and Covenants	 	 	10	 
	SECTION 3.04.
	 	[Reserved]	 	 	12	 
	SECTION 3.05.
	 	Registration in Nominee Name; Denominations	 	 	12	 
	SECTION 3.06.
	 	Voting Rights; Dividends and Interest, etc.	 	 	12	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE IV.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Security Interests in Personal Property	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 4.01.
	 	Security Interest	 	 	14	 
	SECTION 4.02.
	 	Representations and Warranties	 	 	16	 
	SECTION 4.03.
	 	Covenants	 	 	17	 
	SECTION 4.04.
	 	Other Actions	 	 	20	 
	SECTION 4.05.
	 	Covenants Regarding Patent, Trademark and Copyright Collateral	 	 	21	 






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	 	 	 	 	Page	 
	 
	 	ARTICLE V.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Remedies	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 5.01.
	 	Remedies Upon Default	 	 	22	 
	SECTION 5.02.
	 	Application of Proceeds	 	 	24	 
	SECTION 5.03.
	 	Grant of License to Use Intellectual Property	 	 	24	 
	SECTION 5.04.
	 	Securities Act, etc.	 	 	25	 
	SECTION 5.05.
	 	Registration, etc.	 	 	25	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE VI.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Indemnity, Subrogation and Subordination	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 6.01.
	 	Indemnity and Subrogation	 	 	26	 
	SECTION 6.02.
	 	Contribution and Subrogation	 	 	26	 
	SECTION 6.03.
	 	Subordination	 	 	27	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE VII.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Miscellaneous	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 7.01.
	 	Notices	 	 	27	 
	SECTION 7.02.
	 	Security Interest Absolute	 	 	27	 
	SECTION 7.03.
	 	[Reserved]	 	 	27	 
	SECTION 7.04.
	 	Binding Effect; Several Agreement	 	 	27	 
	SECTION 7.05.
	 	Successors and Assigns	 	 	28	 
	SECTION 7.06.
	 	Collateral Agent's Fees and Expenses; Indemnification	 	 	28	 
	SECTION 7.07.
	 	Collateral Agent Appointed Attorney-in-Fact	 	 	29	 
	SECTION 7.08.
	 	GOVERNING LAW	 	 	29	 
	SECTION 7.09.
	 	Waivers; Amendment	 	 	29	 
	SECTION 7.10.
	 	WAIVER OF JURY TRIAL	 	 	30	 
	SECTION 7.11.
	 	Severability	 	 	30	 
	SECTION 7.12.
	 	Counterparts	 	 	30	 
	SECTION 7.13.
	 	Headings	 	 	31	 
	SECTION 7.14.
	 	Jurisdiction; Consent to Service of Process	 	 	31	 
	SECTION 7.15.
	 	Termination or Release	 	 	31	 
	SECTION 7.16.
	 	Additional Parties	 	 	32	 
	SECTION 7.17.
	 	Right of Set-off	 	 	32	 
	 
	 	 	 	 	 	 
	Schedules
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Schedule I
	 	Subsidiary Parties	 	 	 	 
	Schedule II
	 	Capital Stock; Debt Securities	 	 	 	 
	Schedule III
	 	Intellectual Property	 	 	 	 






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	Exhibits

	 	 
	 
	 	 
	Exhibit I
	 	Form of Supplement
	Exhibit II
	 	Form of Perfection Certificate







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          GUARANTEE AND COLLATERAL AGREEMENT dated and effective as of April 2, 2007 (this
“Agreement”), among CELANESE HOLDINGS LLC (the “Holdings”), CELANESE US HOLDINGS
LLC (the “Company”), CELANESE AMERICAS CORPORATION (“CAC”), each GUARANTOR SUBSIDIARY party
hereto and DEUTSCHE BANK AG, NEW YORK BRANCH, as Collateral Agent (in such capacity, the
“Collateral Agent”) for the Secured Parties (as defined below).




          Reference is made to the Credit Agreement dated as of April 2, 2007 (as amended, supplemented,
waived or otherwise modified from time to time, the “Credit Agreement”), among Holdings,
the Company, CAC, certain other subsidiaries of the Company from time to time party thereto as a
borrower, the LENDERS party thereto from time to time, DEUTSCHE BANK AG, NEW YORK BRANCH
(“DBNY”), as administrative agent (in such capacity, the “Administrative Agent”),
and as Collateral Agent, MERRILL LYNCH CAPITAL CORPORATION (“MLCC”), as syndication agent
(in such capacity, the “Syndication Agent”), BANK OF AMERICA, N.A., as documentation agent
(in such capacity, the “Documentation Agent”), and DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH,
as Deposit Bank (in such capacity, the “Deposit Bank”).




          The obligations of the Lenders to extend and to maintain credit pursuant to the Credit
Agreement are conditioned upon, among other things, the execution and delivery of this Agreement.
Holdings, the Company, CAC and the Guarantor Subsidiaries will derive substantial benefits from
such extensions of credit and are willing to execute and deliver this Agreement in order to induce
the Lenders to extend such credit. Accordingly, the parties hereto agree as follows:




ARTICLE I.




Definitions




          SECTION 1.01. Credit Agreement.




          (a) Capitalized terms used in this Agreement and not otherwise defined herein have the
respective meanings assigned thereto in the Credit Agreement. All terms defined in the New York
UCC (as defined herein) and not defined in this Agreement have the meanings specified therein.




          (b) The rules of construction specified in Section 1.02 of the Credit Agreement also apply to
this Agreement.




          SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings
specified below:




          “Account Debtor” means any person who is or who may become obligated to any Guarantor
under, with respect to or on account of an Account.




          “Article 9 Collateral” has the meaning assigned such term in Section 4.01.




          “Claiming Guarantor” has the meaning assigned such term in Section 6.02.














 








          “Collateral” means Article 9 Collateral and Pledged Collateral.




          “Contributing Guarantor” has the meaning assigned such term in Section 6.02.




          “Control Agreement” means a securities account control agreement or commodity account
control agreement, as applicable, in form and substance reasonably satisfactory to the Collateral
Agent.




          “Copyright License” means any written agreement, now or hereafter in effect, granting
any right to any third party under any Copyright now or hereafter owned by any Guarantor or that
any Guarantor otherwise has the right to license, or granting any right to any Guarantor under any
Copyright now or hereafter owned by any third party, and all rights of any Guarantor under any such
agreement.




          “Copyrights” means all of the following now owned or hereafter acquired by any
Guarantor: (a) all copyright rights in any work subject to the copyright laws of the United States
or any other country, whether as author, assignee, transferee or otherwise; and (b) all
registrations and applications for registration of any such Copyright in the United States or any
other country, including registrations, supplemental registrations and pending applications for
registration in the United States Copyright Office, including those listed on Schedule III.




          “Credit Agreement” has the meaning assigned to such term in the preliminary statement
of this Agreement.




          “Equity Interests” has the meaning provided in the Credit Agreement but excluding any
interest otherwise included in such definition that is not a “security” or “financial asset” under
Article VIII of the New York UCC.




          “Federal Securities Laws” has the meaning assigned to such term in Section 5.04.




          “General Intangibles” means all “General Intangibles” as defined in the New York UCC,
including all choses in action and causes of action and all other intangible personal property of
any Guarantor of every kind and nature (other than Accounts) now owned or hereafter acquired by any
Guarantor, including corporate or other business records, indemnification claims, contract rights
(including rights under leases, whether entered into as lessor or lessee, Swap Agreements and other
agreements), Intellectual Property, goodwill, registrations, franchises, tax refund claims and any
letter of credit, guarantee, claim, security interest or other security held by or granted to any
Guarantor to secure payment by an Account Debtor of any of the Accounts.




          “Guaranteed Obligations” means, as to each Guarantor, all of the Obligations not owed
directly by it.




          “Guaranteed Party” means, with respect to all Guaranteed Obligations, the Collateral
Agent, the Administrative Agent and/or the Lenders to which such Guaranteed Obligations are owed.




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          “Guarantor” means, so long as such Person is a party hereto, each of Holdings, the
Company, CAC and each Subsidiary Party.




          “Intellectual Property” means all intellectual and similar property of every kind and
nature now owned or hereafter acquired by any Guarantor, including inventions, designs, Patents,
Copyrights, Trademarks, Patent Licenses, Copyright Licenses, Trademark Licenses, trade secrets,
domain names, confidential or proprietary technical and business information, know how or show how
and all related documentation.




          “Investment Property” has the meaning assigned such term in the New York UCC.




          “Lenders” has the meaning assigned to such term in the preliminary statement of this
Agreement.




          “Loan Document Obligations” means (a) the due and punctual payment by each Borrower of
(i) the unpaid principal of and interest on the Loans made to such Borrower, when and as due,
whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii)
each payment (if any) required to be made by each Borrower under the Credit Agreement in respect of
any Letter of Credit issued for its account, when and as due, including payments in respect of
reimbursement of disbursements and interest thereon and (iii) all other monetary obligations of
each Borrower under the Credit Agreement and each of the other Loan Documents, including
obligations to pay fees, expense and reimbursement obligations and indemnification obligations,
whether primary, secondary, direct, contingent, fixed or otherwise, including in the case of
clauses (i), (ii) and (iii), interest accruing during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such
proceeding and (b) the due and punctual performance of all other obligations of each Borrower under
or pursuant to the Credit Agreement and each of the other Loan Documents (other than this
Agreement), including to provide cash collateral.




          “New York UCC” means the Uniform Commercial Code as from time to time in effect in the
State of New York.




          “Noticed Event of Default” means any Event of Default as to which the Administrative
Agent has given Holdings written notice that (i) such Event of Default constitutes a Noticed Event
of Default and (ii) to the extent such notice may be given without violation of applicable law, the
Collateral Agent intends, as a result of such Event of Default (alone or among others), to exercise
its rights hereunder, provided that an Event of Default under Section 7.01(h) or (i) of the Credit
Agreement shall in any event constitute a Noticed Event of Default.




          “Obligations” means (a) the Loan Document Obligations, (b) the due and punctual
payment and performance of all the obligations of each Guarantor under and pursuant to this
Agreement, (c) the due and punctual payment and performance of all obligations of each
Guarantor under each Swap Agreement that (i) is in effect on the Effective Date with a counterparty
that is a Lender or an Affiliate of a Lender as of the Effective Date or (ii) is entered into after
the Effective Date with any counterparty that is a Lender or an Affiliate of a Lender at the time
such Swap Agreement is entered into, and (d) the due and punctual payment and performance of all





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obligations of each Guarantor in respect of overdrafts and related liabilities owed to a Lender or
any of its Affiliates and arising from cash management services (including treasury, depository,
overdraft, credit or debit card, electronic funds transfer and other cash management arrangements).




          “Patent License” means any written agreement, now or hereafter in effect, granting to
any third party any right to make, use or sell any invention covered by a Patent, now or hereafter
owned by any Guarantor or that any Guarantor otherwise has the right to license or granting to any
Guarantor any right to make, use or sell any invention covered by a Patent, now or hereafter owned
by any third party.




          “Patents” means all of the following now owned or hereafter acquired by any Guarantor:
(a) all letters patent of the United States or the equivalent thereof in any other country, and
all applications for letters patent of the United States or the equivalent thereof in any other
country, including those listed on Schedule III, and (b) all reissues, continuations,
divisions, continuations-in-part or extensions thereof, and the inventions disclosed or claimed
therein, including the right to make, use and/or sell the inventions disclosed or claimed therein.




          “Perfection Certificate” means a certificate substantially in the form of Exhibit
II, completed and supplemented with the schedules and attachments contemplated thereby, and
duly executed by a Responsible Officer of Holdings, the Company, CAC and each Guarantor Subsidiary
(determined as of the Effective Date).




          “Pledged Collateral” has the meaning assigned to such term in Section 3.01.




          “Pledged Debt Securities” has the meaning assigned to such term in Section 3.01.




          “Pledged Securities” means any promissory notes, stock certificates or other
certificated securities now or hereafter included in the Pledged Collateral, including all
certificates, instruments or other documents representing or evidencing any Pledged Collateral.




          “Pledged Stock” has the meaning assigned to such term in Section 3.01.




          “Secured Parties” means with respect to all Obligations, as appropriate, (i) the
Lenders, (ii) the Administrative Agent and the Collateral Agent, (iii) each Issuing Bank, (iv) each
counterparty to any Swap Agreement entered into with a Guarantor the obligations under which
constitute Obligations, (v) each Lender or Affiliate owed obligations which constitute Obligations
under clause (d) of the definition thereof, (vi) the beneficiaries of each indemnification
obligation undertaken by any Guarantor under any Loan Document or existing as of the date of this
Agreement and (vii) the successors and permitted assigns of each of the foregoing.




          “Security Interest” has the meaning assigned to such term in Section 4.01.




          “Specified Borrower” has the meaning assigned to such term in Section 6.01.





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          “Subsidiary Party” means, so long as a party hereto, each Guarantor Subsidiary in
existence on the Effective Date and each other subsidiary required to become party hereto pursuant
to Section 7.16.




          “Subsidiary Revolving Borrowers” has the meaning assigned such term in the preliminary
statement of this Agreement.




          “Supplement” shall mean an instrument in the form of Exhibit I hereto.




          “Trademark License” means any written agreement, now or hereafter in effect, granting
to any third party any right to use any Trademark now or hereafter owned by any Guarantor or that
any Guarantor otherwise has the right to license, or granting to any Guarantor any right to use any
Trademark now or hereafter owned by any third party.




          “Trademarks” means all of the following now owned or hereafter acquired by any
Guarantor: (a) all trademarks, service marks, corporate names, company names, business names,
fictitious business names, trade dress, logos, other source or business identifiers, designs and
general intangibles of like nature, now existing or hereafter adopted or acquired, all
registrations thereof (if any), and all registration applications filed in connection therewith,
including registrations and applications in the United States Patent and Trademark Office or any
similar offices in any State of the United States or any other country or any political subdivision
thereof, and all renewals thereof, including those listed on Schedule III and (b) all
goodwill associated therewith or symbolized thereby.




ARTICLE II.




Guarantee




          SECTION 2.01. Guarantee. Each Guarantor unconditionally guarantees, jointly with the other
Guarantors and severally, as a primary obligor and not merely as a surety, the due and punctual
payment and performance of its Guaranteed Obligations. Each Guarantor further agrees that its
Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or
further assent from it, and that it will remain bound upon its guarantee notwithstanding any
extension or renewal of any of its Guaranteed Obligations. Each Guarantor waives presentment to,
demand of payment from and protest to any Person of any of its Guaranteed Obligations, and also
waives notice of acceptance of its guarantee and notice of protest for nonpayment.




          SECTION 2.02. Guarantee of Payment. Each Guarantor further agrees that its guarantee hereunder
constitutes a guarantee of payment when due and not of collection, and waives any right to require
that any resort be had by the Collateral Agent or any other Secured Party to any security held for
the payment of its Guaranteed Obligations or to any balance of any
Deposit Account or credit on the books of the Collateral Agent or any other Secured Party in
favor of any Person.




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          SECTION 2.03 No Limitations, etc.




          (a) Except for termination of a Guarantor’s obligations hereunder as expressly provided for in
Section 7.15, the obligations of each Guarantor hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, including any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to any defense or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or
unenforceability of its Guaranteed Obligations or otherwise. Without limiting the generality of
the foregoing, the obligations of each Guarantor hereunder shall not be discharged or impaired or
otherwise affected by:





     (i) the failure of the Administrative Agent, the Collateral Agent or any other Person
to assert any claim or demand or to exercise or enforce any right or remedy under the
provisions of any Loan Document or otherwise;




     (ii) any rescission, waiver, amendment or modification of, or any release from any of
the terms or provisions of, any Loan Document or any other agreement, including with respect
to any other Guarantor under this Agreement;




     (iii) any default, failure or delay, willful or otherwise, in the performance of the
Obligations;




     (iv) any other act or omission that may or might in any manner or to any extent vary
the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter
of law or equity (other than the indefeasible payment in full in cash of all the
Obligations),




     (v) any illegality, lack of validity or enforceability of any Obligation,




     (vi) any change in the corporate existence, structure or ownership of any Loan Party,
or any insolvency, bankruptcy, reorganization or other similar proceeding affecting any Loan
Party or its assets or any resulting release or discharge of any Obligation,




     (vii) the existence of any claim, set-off or other rights that the Guarantor may have
at any time against any Loan Party, the Collateral Agent, or any other corporation or
Person, whether in connection herewith or any unrelated transactions, provided that nothing
herein will prevent the assertion of any such claim by separate suit or compulsory
counterclaim,




     (viii) any law, regulation, decree or order of any jurisdiction, or any other event,
affecting any term of any of its Guaranteed Obligations or the Collateral Agent’s rights
with respect thereto, including, without limitation:




          (A) the application of any such law, regulation, decree or order, including any
prior approval, which would prevent the exchange of a foreign currency for Dollars
or such other currency in which its Guaranteed Obligations are due, or the
remittance of funds outside of such jurisdiction or the unavailability of Dollars



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or
any such other currency in any legal exchange market in such jurisdiction in
accordance with normal commercial practice; or




          (B) a declaration of banking moratorium or any suspension of payments by banks
in such jurisdiction or the imposition by such jurisdiction or any governmental
authority thereof of any moratorium on, the required rescheduling or restructuring
of, or required approval of payments on, any indebtedness in such jurisdiction; or




          (C) any expropriation, confiscation, nationalization or requisition by such
country or any governmental authority that directly or indirectly deprives any
Borrower of any assets or their use, or of the ability to operate its business or a
material part thereof; or




          (D) any war (whether or not declared), insurrection, revolution, hostile act,
civil strife or similar events occurring in such jurisdiction which has the same
effect as the events described in clause (A), (B) or (C) above (in each of the cases
contemplated in clauses (A) through (D) above, to the extent occurring or existing
on or at any time after the date of this Agreement), and




     (ix) any other circumstance (including without limitation, any statute of limitations)
or any existence of or reliance on any representation by the Collateral Agent that might
otherwise constitute a defense to, or a legal or equitable discharge of, any Loan Party or
the Guarantor or any other guarantor or surety.


Each Guarantor expressly authorizes the respective Guaranteed Parties to take and hold security for
the payment and performance of its Guaranteed Obligations, to exchange, waive or release any or all
such security (with or without consideration), to enforce or apply such security and direct the
order and manner of any sale thereof in their sole discretion or to release or substitute any one
or more other guarantors or obligors upon or in respect of its Guaranteed Obligations, all without
affecting the obligations of such Guarantor hereunder.




          Without limiting the generality of the foregoing, with respect to any of its Guaranteed
Obligations that, in accordance with the express terms of any agreement pursuant to which such
Guaranteed Obligations were created, were denominated in Dollars or any currency other than the
currency of the jurisdiction where a Borrower is principally located, each Guarantor guarantees
that it shall pay the Collateral Agent strictly in accordance with the express terms of
such agreement, including in the amounts and in the currency expressly agreed to thereunder,
irrespective of and without giving effect to any laws of the jurisdiction where a Borrower is
principally located in effect from time to time, or any order, decree or regulation in the
jurisdiction where a Borrower is principally located.




          (b) To the fullest extent permitted by applicable law, each Guarantor waives any defense based
on or arising out of any defense of any Borrower or any other Loan Party or the unenforceability of
its Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of
the liability of any Borrower or any other Loan Party, other than the indefeasible payment in full
in cash of all its Guaranteed Obligations. The Collateral Agent and




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the other Guaranteed Parties
may, at their election, foreclose on any security held by one or more of them by one or more
judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure,
compromise or adjust any part of the Obligations, make any other accommodation with any Borrower or
any other Loan Party or exercise any other right or remedy available to them against any Borrower
or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor
hereunder except to the extent its Guaranteed Obligations have been fully and indefeasibly paid in
full in cash. To the fullest extent permitted by applicable law, each Guarantor waives any defense
arising out of any such election even though such election operates, pursuant to applicable law, to
impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against any Borrower or any other Loan Party, as the case may be, or any security.




          SECTION 2.04. Reinstatement. Each Guarantor agrees that its guarantee hereunder shall continue to
be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
any of its Guaranteed Obligations is rescinded or must otherwise be restored by the Administrative
Agent or any other Guaranteed Party upon the bankruptcy or reorganization of any Borrower, any
other Loan Party or otherwise.




          SECTION 2.05. Agreement to Pay; Subrogation. In furtherance of the foregoing and not in limitation
of any other right that the Collateral Agent or any other Guaranteed Party has at law or in equity
against any Guarantor by virtue hereof, upon the failure of any Borrower or any other Loan Party to
pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will
forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the applicable
Guaranteed Parties in cash the amount of such unpaid Guaranteed Obligation. Upon payment by any
Guarantor of any sums to the Collateral Agent as provided above, all rights of such Guarantor
against such Borrower, or other Loan Party or any other Guarantor arising as a result thereof by
way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all
respects be subject to Article VI.




          SECTION 2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself
informed of the financial condition and assets of each Borrower and each other Loan Party, and of
all other circumstances bearing upon the risk of nonpayment of its Guaranteed Obligations and the
nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees
that none of the Collateral Agent or the other Guaranteed
Parties will have any duty to advise such Guarantor of information known to it or any of them
regarding such circumstances or risks.




          SECTION 2.07. Maximum Liability. Anything herein or in any other Loan Document to the contrary
notwithstanding, the maximum liability of each Guarantor hereunder and under the other Loan
Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under
applicable federal and state laws relating to the insolvency of debtors (after giving effect to the
right of contribution established in Section 6.02).




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ARTICLE III.




Pledge of Securities




          SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full of
its Obligations, each Guarantor hereby assigns and pledges to the Collateral Agent, its successors
and assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its
successors and assigns, for the benefit of the Secured Parties, a security interest in all of such
Guarantor’s right, title and interest in, to and under (a) the Equity Interests directly owned by
it on the Effective Date (which shall be listed on Schedule II) and any other Equity
Interests obtained in the future by such Guarantor and any certificates representing all such
Equity Interests (all such Equity Interests and certificates referred to collectively as the
“Pledged Stock”); provided that the Pledged Stock shall not include (i) more than
65% of the issued and outstanding voting Equity Interests of any Foreign Subsidiary, (ii) to the
extent applicable law requires that a Subsidiary of such Guarantor issue directors’ qualifying
shares, such shares or nominee or other similar shares, (iii) any Equity Interests with respect to
which the Collateral and Guarantee Requirement or the other paragraphs of Section 5.10 of the
Credit Agreement need not be satisfied by reason of Section 5.10(g) of the Credit Agreement, (iv)
any Equity Interests of a Subsidiary to the extent that, as of the Effective Date, and for so long
as, such a pledge of such Equity Interests would violate a contractual obligation binding on such
Equity Interests, (v) any Equity Interests of a Subsidiary of a Guarantor acquired after the
Effective Date if, and to the extent that, and for so long as, (A) a pledge of such Equity
Interests would violate applicable law or any contractual obligation binding upon such Subsidiary
and (B) such law or obligation existed at the time of the acquisition thereof and was not created
or made binding upon such Subsidiary in contemplation of or in connection with the acquisition of
such Subsidiary (provided that the foregoing clause (B) shall not apply in the case of a joint
venture, including a joint venture that is a Subsidiary), provided that such each Guarantor
shall use its commercially reasonable efforts to avoid any such restrictions classified in this
clause (v) or (vi) any Equity Interests of a Person that is not directly or indirectly a
Subsidiary; (b)(i) the debt securities listed opposite the name of such Guarantor on Schedule
II, (ii) to the extent required by Section 3.02(b), any debt securities in the future issued
to, or acquired by, such Guarantor and (iii) the promissory notes and any other instruments, if
any, evidencing such debt owed to any Guarantor (the “Pledged Debt Securities”); (c)
subject to Section 3.06, all payments of principal or interest, dividends, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of, in
exchange for or upon the conversion of, and all other proceeds received in respect of, the
securities referred to in clauses (a) and (b) above; (d)
subject to Section 3.06, all rights and privileges of such Guarantor with respect to the
securities and other property referred to in clauses (a), (b) and (c) above; and (e) all proceeds
of any of the foregoing (the items referred to in clauses (a) through (e) above being collectively
referred to as the “Pledged Collateral”).




          TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers,
privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its
successors and assigns, for the benefit of the Secured Parties, forever; subject,
however, to the terms, covenants and conditions hereinafter set forth.




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SECTION 3.02. Delivery of the Pledged Collateral




          (a) Each Guarantor hereby represents that all Pledged Securities owned by such Guarantor on
the Effective Date have been delivered to the Collateral Agent. Each Guarantor agrees promptly,
upon its first becoming a Guarantor hereunder or thereafter to the extent first acquiring same, to
deliver or cause to be delivered to the Collateral Agent, for the benefit of the Secured Parties,
any and all Pledged Securities to the extent such Pledged Securities, in the case of promissory
notes or other instruments evidencing Indebtedness, are required to be delivered pursuant to
paragraph (b) of this Section 3.02.




          (b) Each Guarantor will cause any Indebtedness for borrowed money having an aggregate
principal amount that has a Dollar Equivalent in excess of $10,000,000 (other than intercompany
current liabilities incurred in the ordinary course) owed to such Guarantor by Holdings or any
Subsidiary to be evidenced by a promissory note or other instrument that is pledged and delivered
to the Collateral Agent, together with note powers or other instruments of transfer with respect
thereto endorsed in blank, for the benefit of the Secured Parties, pursuant to the terms hereof.
To the extent any such promissory note is a demand note, each Guarantor party thereto agrees, if
requested by the Collateral Agent, to immediately demand payment thereunder upon an Event of
Default specified under Section 7.01(b), (c), (f), (h) or (i) of the Credit Agreement.




          (c) Upon delivery to the Collateral Agent, (i) any Pledged Securities required to be delivered
pursuant to the foregoing paragraphs (a) and (b) of this Section 3.02 shall be accompanied by stock
powers or note powers, as applicable, duly executed in blank or other instruments of transfer
reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the
Collateral Agent may reasonably request and (ii) all other property composing part of the Pledged
Collateral delivered pursuant to the terms of this Agreement shall be accompanied to the extent
necessary to perfect the security interest in or allow realization on the Pledged Collateral by
proper instruments of assignment duly executed by the applicable Guarantor and such other
instruments or documents (including issuer acknowledgments in respect of uncertificated securities)
as the Collateral Agent may reasonably request. Each delivery (or subsequent confirmation by a
successor of the prior delivery) of Pledged Securities hereunder shall be accompanied by a schedule
describing the securities, which schedule shall be attached hereto as Schedule II and made
a part of Schedule II; provided that failure to attach any such
schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each
schedule so delivered shall supplement any prior schedules so delivered.




          SECTION 3.03. Representations, Warranties and Covenants. The Guarantors, jointly and severally,
represent, warrant and covenant to and with the Collateral Agent, for the benefit of the Secured
Parties, that:





     (a) Schedule II as of the Effective Date correctly sets forth the percentage of
the issued and outstanding shares of each class of the Equity Interests of the issuer
thereof represented by the Pledged Stock and includes all Equity Interests, debt securities
and promissory notes or instruments evidencing Indebtedness required to be pledged hereunder
in order to satisfy the Collateral and Guarantee Requirement;



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     (b) the Pledged Stock and Pledged Debt Securities (solely with respect to Pledged Debt
Securities issued by a person that is not a Subsidiary of Holdings or an Affiliate of any
such subsidiary, to the best of each Guarantor’s knowledge) have been duly and validly
authorized and issued by the issuers thereof and (i) in the case of Pledged Stock, are fully
paid and nonassessable and (ii) in the case of Pledged Debt Securities (solely with respect
to Pledged Debt Securities issued by a person that is not a Subsidiary of Holdings or an
Affiliate of any such subsidiary, to the best of each Guarantor’s knowledge) are legal,
valid and binding obligations of the issuers thereof subject to (i) the effects of
bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar
laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law) and (iii)
implied covenants of good faith and fair dealing;




     (c) except for the security interests granted hereunder, each Guarantor (i) is and,
subject to any transfers made in compliance with the Credit Agreement, will continue to be
the direct owner, beneficially and of record, of the Pledged Securities indicated on
Schedule II as owned by such Guarantor, (ii) holds the same free and clear of all
Liens, other than Liens permitted under Section 6.02 of the Credit Agreement, (iii) will
make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any
security interest in or other Lien on, the Pledged Collateral, other than pursuant to a
transaction permitted by the Credit Agreement and other than Liens permitted under Section
6.02 of the Credit Agreement and (iv) subject to the rights of such Guarantor under the Loan
Documents to dispose of Pledged Collateral, will defend its title or interest hereto or
therein against any and all Liens (other than Liens permitted under Section 6.02 of the
Credit Agreement), however arising, of all persons;




     (d) except for restrictions and limitations imposed by the Loan Documents or securities
laws generally or otherwise permitted to exist pursuant to the terms of the Credit
Agreement, the Pledged Collateral is and will continue to be freely transferable and
assignable, and none of the Pledged Collateral is or will be subject to any option, right of
first refusal, shareholders agreement, charter or by-law provisions or contractual
restriction of any nature that might, in any material respect, prohibit, impair, delay or adversely affect the pledge of such Pledged Collateral hereunder, the sale or disposition
thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies
hereunder;




     (e) each Guarantor has the power and authority to pledge the Pledged Collateral pledged
by it hereunder in the manner hereby done or contemplated;




     (f) no consent or approval of any Governmental Authority, any securities exchange or
any other person was or is necessary to the validity of the pledge effected hereby (other
than such as have been obtained and are in full force and effect);




     (g) by virtue of the execution and delivery by the Guarantors of this Agreement, when
any Pledged Securities that constitute certificated securities or instruments are delivered
to the Collateral Agent, for the benefit of the Secured Parties, in accordance with this
Agreement, the Collateral Agent will obtain, for the benefit of the Secured Parties,



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a
legal, valid and perfected first priority lien upon and security interest in such Pledged
Securities as security for the payment and performance of the Obligations under applicable
laws in the United States;




     (h) each Guarantor does not own on the Effective Date, any security constituting an
equity interest in any Person to the extent such security constitutes an uncertificated
security and will not acquire any such uncertificated security thereafter except in each
case to the extent it has complied with the provisions of the third sentence of Section
4.04(c), to the extent applicable thereto; and




     (i) the pledge effected hereby is effective to vest in the Collateral Agent, for the
benefit of the Secured Parties, the rights of the Collateral Agent in the Pledged Collateral
as set forth herein under applicable laws in the United States.



          SECTION 3.04. [Reserved].




          SECTION 3.05. Registration in Nominee Name; Denominations. The Collateral Agent, on behalf of the
Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged
Securities in the name of the applicable Guarantor, endorsed or assigned in blank or in favor of
the Collateral Agent or, if a Noticed Event of Default shall have occurred and be continuing, in
its own name as pledgee or the name of its nominee (as pledgee or as sub-agent). Each Guarantor
will promptly give to the Collateral Agent copies of any notices or other communications received
by it with respect to Pledged Securities registered in the name of such Guarantor.




          SECTION 3.06. Voting Rights; Dividends and Interest, etc.




          (a) Unless and until a Noticed Event of Default shall have occurred and be continuing:





     (i) Each Guarantor shall be entitled to exercise any and all voting and/or other
consensual rights and powers inuring to an owner of Pledged Securities or any part thereof
for any purpose consistent with the terms of this Agreement, the Credit Agreement and the
other Loan Documents; provided that such rights and powers shall not be exercised in
any manner that could reasonably be expected to materially and adversely affect the rights
inuring to a holder of any Pledged Securities, the rights and remedies of any of the
Collateral Agent or the other Secured Parties under this Agreement, the Credit Agreement or
any other Loan Document or the ability of the Secured Parties to exercise the same.




     (ii) The Collateral Agent shall promptly execute and deliver to each Guarantor, or
cause to be executed and delivered to such Guarantor, all such proxies, powers of attorney
and other instruments as such Guarantor may reasonably request for the purpose of enabling
such Guarantor to exercise the voting and/or consensual rights and powers it is entitled to
exercise pursuant to subparagraph (i) above.



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     (iii) Each Guarantor shall be entitled to receive and retain any and all dividends,
interest, principal and other distributions paid on or distributed in respect of the Pledged
Securities to the extent and only to the extent that (x) such dividends, interest, principal
and other distributions are permitted by, and otherwise paid or distributed in accordance
with, the terms and conditions of the Credit Agreement, the other Loan Documents and
applicable laws and (y) such payment on distribution is not payable directly to the
Collateral Agent pursuant to the terms of the applicable Pledged Securities;
provided that any noncash dividends, interest, principal or other distributions that
constitute Pledged Securities (whether resulting from a subdivision, combination or
reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities
or received in exchange for Pledged Securities or any part thereof, or in redemption
thereof, or as a result of any merger, consolidation, acquisition or other exchange of
assets to which such issuer may be a party or otherwise) shall be and become part of the
Pledged Collateral, and, if received by any Guarantor, shall not be commingled by such
Guarantor with any of its other funds or property but shall be held separate and apart
therefrom, shall be held in trust for the benefit of the Collateral Agent, for the benefit
of the Secured Parties, and shall be forthwith delivered to the Collateral Agent, for the
benefit of the Secured Parties, in the same form as so received (accompanied by stock powers
duly executed in blank or other appropriate instruments of transfer satisfactory to the
Collateral Agent).



          (b) Upon the occurrence and during the continuance of a Noticed Event of Default, all rights
of any Guarantor to dividends, interest, principal or other distributions that such Guarantor is
authorized to receive pursuant to paragraph (a)(iii) of this Section 3.06 shall cease, and all such
rights shall thereupon become vested, for the benefit of the Secured Parties, in the Collateral
Agent which shall have the sole and exclusive right and authority to receive and retain such
dividends, interest, principal or other distributions. All dividends, interest, principal
or other distributions received by any Guarantor contrary to the provisions of this Section
3.06 shall not be commingled by such Guarantor with any of its other funds or property but shall be
held separate and apart therefrom, shall be held in trust for the benefit of the Collateral Agent,
for the benefit of the Secured Parties, and shall be forthwith delivered to the Collateral Agent,
for the benefit of the Secured Parties, in the same form as so received (accompanied by stock
powers duly executed in blank or other appropriate instruments of transfer reasonably satisfactory
to the Collateral Agent). Any and all money and other property paid over to or received by the
Collateral Agent pursuant to the provisions of this paragraph (b) shall be retained by the
Collateral Agent in an account to be established by the Collateral Agent upon receipt of such money
or other property and shall be applied in accordance with the provisions of Section 5.02. After
all Events of Default have been cured or waived and the Term Borrower has delivered to the
Collateral Agent a certificate to that effect, the Collateral Agent shall promptly repay to each
Guarantor (without interest) all dividends, interest, principal or other distributions that such
Guarantor would otherwise have been permitted to retain pursuant to the terms of paragraph (a)(iii)
of this Section 3.06 and that remain in such account.




          (c) Upon the occurrence and during the continuance of a Noticed Event of Default, all rights
of any Guarantor to exercise the voting and/or consensual rights and powers it is entitled to
exercise pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Collateral
Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and all such rights shall




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thereupon become vested in the Collateral Agent, for the benefit of the Secured Parties, which
shall have the sole and exclusive right and authority to exercise such voting and consensual rights
and powers; provided that, unless otherwise directed by the Required Lenders, the
Collateral Agent shall have the right from time to time following and during the continuance of an
Event of Default to permit the Guarantors to exercise such rights. After all Noticed Events of
Default have been cured or waived and the Term Borrower has delivered to the Collateral Agent a
certificate to that effect, each Guarantor shall have the right to exercise the voting and/or
consensual rights and powers that such Guarantor would otherwise have been entitled to exercise
pursuant to the terms of paragraph (a)(i) above.




ARTICLE IV.




Security Interests in Personal Property




          SECTION 4.01. Security Interest.




          (a) As security for the payment or performance, as the case may be, in full of the
Obligations, each Guarantor hereby assigns and pledges to the Collateral Agent, its successors and
assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its
successors and assigns, for the benefit of the Secured Parties, a security interest (the
“Security Interest”) in all right, title and interest in or to any and all of the following
assets and properties now owned or at any time hereafter acquired by such Guarantor or in which
such Guarantor now
has or at any time in the future may acquire any right, title or interest (collectively, the
“Article 9 Collateral”):





     (i) all Accounts;




     (ii) all Chattel Paper;




     (iii) all cash and Deposit Accounts;




     (iv) all Documents;




     (v) all Equipment;




     (vi) all General Intangibles;




     (vii) all Goods;




     (viii) all Instruments;




     (ix) all Inventory;




     (x) all Investment Property;




     (xi) all Letter-of-Credit Rights;




     (xii) all Commercial Tort Claims listed on Schedule 4.01 hereto;



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     (xiii) all books and records pertaining to the Article 9 Collateral; and




     (xiv) to the extent not otherwise included, all proceeds, Supporting Obligations and
products of any and all of the foregoing and all collateral security and guarantees given by
any person with respect to any of the foregoing.


Notwithstanding anything to the contrary in this Agreement, this Agreement shall not constitute a
grant of a security interest in (a) any vehicle covered by a certificate of title or ownership, (b)
any assets (including Equity Interests) with respect to which the Collateral and Guarantee
Requirement or the other paragraphs of Section 5.10 of the Credit Agreement need not be satisfied
by reason of Section 5.10(g) of the Credit Agreement, (c) any assets to the extent that, as of the
Effective Date, and for so long as, such grant of a security interest would violate a contractual
obligation or applicable law binding on such asset, (d) any property of any Person acquired by a
Guarantor after the Effective Date pursuant to Section 6.04(l) of the Credit Agreement, if, and to
the extent that, and for so long as, (A) such grant of a security interest would violate applicable
law or any contractual obligation binding upon such property and (B) such law or obligation existed
at the time of the acquisition thereof and was not created or made binding upon such property in
contemplation of or in connection with the acquisition of such Subsidiary (provided that
the foregoing clause (B) shall not apply in the case of a joint venture, including a joint venture
that is a Subsidiary) provided that each Guarantor shall use its commercially reasonable
efforts to avoid any such restriction described in this clause (d), or (e) any Letter of Credit
Rights to the extent any Guarantor is required by applicable law to apply the proceeds of a drawing
of such Letter of Credit for a specified purpose.




          (b) Each Guarantor hereby irrevocably authorizes the Collateral Agent at any time and from
time to time to file in any relevant jurisdiction any initial financing statements (including
fixture filings) with respect to the Article 9 Collateral or any part thereof and amendments
thereto that contain the information required by Article 9 of the Uniform Commercial Code of each
applicable jurisdiction for the filing of any financing statement or amendment, including (i)
whether such Guarantor is an organization, the type of organization and any organizational
identification number issued to such Guarantor, (ii) in the case of a financing statement filed as
a fixture filing, a sufficient description of the real property to which such Article 9 Collateral
relates and (iii) a description of collateral that describes such property in any other manner as
the Collateral Agent may reasonably determine is necessary or advisable to ensure the perfection of
the security interest in the Article 9 Collateral granted under this Agreement, including
describing such property as “all assets” or “all property” or words of similar effect. Each
Guarantor agrees to provide such information to the Collateral Agent promptly upon request.




          The Collateral Agent is further authorized to file with the United States Patent and Trademark
Office or United States Copyright Office (or any successor office or any similar office in any
other country) such documents as may be necessary or advisable for the purpose of perfecting,
confirming, continuing, enforcing or protecting the Security Interest granted by each Guarantor,
without the signature of any Guarantor, and naming any Guarantor or the Guarantors as debtors and
the Collateral Agent as secured party.




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          (c) The Security Interest is granted as security only and shall not subject the Collateral
Agent or any other Secured Party to, or in any way alter or modify, any obligation or liability of
any Guarantor with respect to or arising out of the Article 9 Collateral.




          SECTION 4.02. Representations and Warranties. The Guarantors jointly and severally represent and
warrant to the Collateral Agent and the Secured Parties that:




          (a) Each Guarantor has good and valid rights in and title to all material Article 9
Collateral with respect to which it has purported to grant a Security Interest hereunder and
has full power and authority to grant to the Collateral Agent the Security Interest in such
Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in
accordance with the terms of this Agreement, without the consent or approval of any other
person other than any consent or approval that has been obtained and is in full force and
effect.




          (b) The Perfection Certificate has been duly prepared, completed and executed and the
information set forth therein, including the exact legal name of each Guarantor, is correct
and complete, in all material respects, as of the Effective Date. Uniform Commercial Code
financing statements (including fixture filings, as applicable) or other
appropriate filings, recordings or registrations containing a description of the
Article 9 Collateral have been prepared by the Collateral Agent based upon the information
provided to the Collateral Agent in the Perfection Certificate for filing in each
governmental, municipal or other office specified in Schedule 7 to the Perfection
Certificate (or specified by notice from the Company to the Collateral Agent after the
Effective Date in the case of filings, recordings or registrations required by Section 5.10
of the Credit Agreement), and constitute all the filings, recordings and registrations
(other than filings required to be made in the United States Patent and Trademark Office and
the United States Copyright Office in order to perfect the Security Interest in Article 9
Collateral consisting of United States issued Patents and applications, United States
registered Trademarks and applications and United States registered Copyrights) that are
necessary to publish notice of and protect the validity of and to establish a legal, valid
and perfected security interest in favor of the Collateral Agent (for the benefit of the
Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may
be perfected by filing, recording or registration in the United States (or any political
subdivision thereof) and its territories and possessions, and no further or subsequent
filing, refiling, recording, rerecording, registration or reregistration is necessary in any
such jurisdiction, except as provided under applicable law with respect to the filing of
continuation statements or amendments. Each Guarantor represents and warrants that a fully
executed agreement in the form hereof (or a short form hereof which form shall be reasonably
acceptable to the Collateral Agent) containing a description of all Article 9 Collateral
consisting of United States issued Patents (and Patents for which United States applications
are pending), United States registered Trademarks (and Trademarks for which United States
registration applications are pending) and United States registered Copyrights (and
Copyrights for which United States registration applications are pending) has been delivered
to the Collateral Agent for recording with the United States Patent and Trademark Office and
the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17
U.S.C. § 205 and




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the regulations thereunder, as applicable, and reasonably requested by the
Collateral Agent, to protect the validity of and to establish a legal, valid and perfected
security interest in favor of the Collateral Agent, for the benefit of the Secured Parties,
in respect of all Article 9 Collateral consisting of the foregoing in which a security
interest may be perfected by recording with the United States Patent and Trademark Office
and the United States Copyright Office.




     (c) The Security Interest constitutes (i) a legal and valid security interest in all
the Article 9 Collateral securing the payment and performance of the Obligations, (ii)
subject to the filings described in Section 4.02(b), a perfected security interest in all
Article 9 Collateral in which a security interest may be perfected by filing, recording or
registering a financing statement or analogous document in the United States (or any
political subdivision thereof) and its territories and possessions pursuant to the New York
UCC or other applicable law in such jurisdictions and (iii) a security interest that shall
be perfected in all Article 9 Collateral in which a security interest may be perfected upon
the receipt and recording of this Agreement with the United States Patent and Trademark
Office and the United States Copyright Office, as applicable. The Security Interest is and
shall be prior to any other Lien on any of the Article 9 Collateral, other than Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement or arising by
operation of law.




     (d) The Article 9 Collateral is owned by the Guarantors free and clear of any Lien,
other than Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement or
arising by operation of law. None of the Guarantors has filed or consented to the filing of
(i) any financing statement or analogous document under the New York UCC or any other
applicable laws covering any Article 9 Collateral, (ii) any assignment in which any
Guarantor assigns any Article 9 Collateral or any security agreement or similar instrument
covering any Article 9 Collateral with the United States Patent and Trademark Office or the
United States Copyright Office or (iii) any assignment in which any Guarantor assigns any
Article 9 Collateral or any security agreement or similar instrument covering any Article 9
Collateral with any foreign governmental, municipal or other office, which financing
statement or analogous document, assignment, security agreement or similar instrument is
still in effect, except, in each case, for Liens expressly permitted pursuant to Section
6.02 of the Credit Agreement.




     (e) None of the Guarantors holds any Commercial Tort Claim individually in excess of
$1,000,000 as of the Effective Date except as indicated on the Perfection Certificate.




     (f) All Accounts have been originated by the Guarantors and all Inventory has been
acquired by the Guarantors in the ordinary course of business.



          SECTION 4.03. Covenants.




          (a) Each Guarantor agrees promptly (and in any event within 30 days of such change) to notify
the Collateral Agent in writing of any change (i) in its legal name, (ii) in its type of
organization or corporate form, (iii) in its Federal Taxpayer Identification Number or




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organizational identification number or (iv) in its jurisdiction of organization. Each Guarantor
agrees promptly to provide the Collateral Agent with certified organizational documents reflecting
any of the changes described in the immediately preceding sentence. Each Guarantor agrees not to
effect or permit any change referred to in the first sentence of this paragraph (a) unless all
filings have been made, or are made within any required timeframe prescribed by applicable law,
under the applicable Uniform Commercial Code or otherwise that are required in order for the
Collateral Agent to continue at all times following such change to have a valid, legal and
perfected first priority security interest in all the Article 9 Collateral, for the benefit of the
Secured Parties. Each Guarantor agrees promptly to notify the Collateral Agent if any material
portion of the Article 9 Collateral owned or held by such Guarantor is damaged or destroyed.




          (b) Subject to the rights of such Guarantor under the Loan Documents to dispose of Collateral,
each Guarantor shall, at its own expense, take any and all actions necessary to defend title to the
Article 9 Collateral against all persons and to defend the Security Interest of
the Collateral Agent, for the benefit of the Secured Parties, in the Article 9 Collateral and
the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the
Credit Agreement.




          (c) Each Guarantor agrees, at its own expense, to execute, acknowledge, deliver and cause to
be duly filed all such further instruments and documents and take all such actions as the
Collateral Agent may from time to time reasonably request to better assure, preserve, protect and
perfect the Security Interest and the rights and remedies created hereby, including the payment of
any fees and taxes required in connection with the execution and delivery of this Agreement, the
granting of the Security Interest and the filing of any financing statements (including fixture
filings) or other documents in connection herewith or therewith. If any amount payable under or in
connection with any of the Article 9 Collateral that is in excess of $10,000,000 is or shall be or
become evidenced by any promissory note or other instrument, such note or instrument shall be
promptly pledged and delivered to the Collateral Agent, for the benefit of the Secured Parties,
accompanied by executed instruments of transfer reasonably satisfactory to the Collateral Agent.




          (d) After the occurrence of an Event of Default and during the continuance thereof, the
Collateral Agent shall have the right to verify under reasonable procedures the validity, amount,
quality, quantity, value, condition and status of, or any other matter relating to, the Article 9
Collateral, including, in the case of Accounts or Article 9 Collateral in the possession of any
third person (following notice to the Term Borrower of its intention to do so), by contacting
Account Debtors or the third person possessing such Article 9 Collateral for the purpose of making
such a verification. The Collateral Agent shall have the right to share any information it gains
from such inspection or verification with any Secured Party.




          (e) At its option at any time which an Event of Default exists, the Collateral Agent may
discharge past due taxes, assessments, charges, fees, Liens, security interests or other
encumbrances at any time levied or placed on the Article 9 Collateral and not permitted pursuant to
Section 6.02 of the Credit Agreement, and may pay for the maintenance and preservation of the
Article 9 Collateral to the extent any Guarantor fails to do so as required by the Credit Agreement
or this Agreement, and each Guarantor jointly and severally agrees to reimburse the Collateral




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Agent on demand for any reasonable payment made or any reasonable expense incurred by the
Collateral Agent pursuant to the foregoing authorization; provided, however, that
nothing in this Section 4.03(e) shall be interpreted as excusing any Guarantor from the performance
of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any
covenants or other promises of any Guarantor with respect to taxes, assessments, charges, fees,
Liens, security interests or other encumbrances and maintenance as set forth herein or in the other
Loan Documents.




          (f) Each Guarantor (rather than the Collateral Agent or any Secured Party) shall remain liable
for the observance and performance of all the conditions and obligations to be observed and
performed by it under each contract, agreement or instrument relating to the Article 9 Collateral
and each Guarantor jointly and severally agrees to indemnify and hold harmless the
Collateral Agent and the Secured Parties from and against any and all liability for such
performance.




          (g) None of the Guarantors shall make or permit to be made an assignment, pledge or
hypothecation of the Article 9 Collateral or shall grant any other Lien in respect of the Article 9
Collateral, except as permitted by the Credit Agreement. None of the Guarantors shall make or
permit to be made any transfer of the Article 9 Collateral and each Guarantor shall remain at all
times in possession of the Article 9 Collateral owned by it, except as permitted by the Credit
Agreement.




          (h) None of the Guarantors will, without the Collateral Agent’s prior written consent, grant
any extension of the time of payment of any Accounts included in the Article 9 Collateral,
compromise, compound or settle the same for less than the full amount thereof, release, wholly or
partly, any person liable for the payment thereof or allow any credit or discount whatsoever
thereon, other than extensions, credits, discounts, compromises or settlements granted or made in
the ordinary course of business (it being agreed that nothing in this clause (h) shall prohibit
sales of receivables permitted by Section 6.05(g) of the Credit Agreement).




          (i) Each Guarantor irrevocably makes, constitutes and appoints the Collateral Agent (and all
officers, employees or agents designated by the Collateral Agent) as such Guarantor’s true and
lawful agent (and attorney in fact) for the purpose, during the continuance of an Event of Default,
of making, settling and adjusting claims in respect of Article 9 Collateral under policies of
insurance, endorsing the name of such Guarantor on any check, draft, instrument or other item of
payment for the proceeds of such policies of insurance and for making all determinations and
decisions with respect thereto. In the event that any Guarantor at any time or times while an
Event of Default exists fails to obtain or maintain any of the policies of insurance required
hereby or to pay any premium in whole or part relating thereto, the Collateral Agent may, without
waiving or releasing any obligation or liability of the Guarantors hereunder or any Event of
Default, in its sole discretion, obtain and maintain such policies of insurance and pay such
premium and take any other actions with respect thereto as the Collateral Agent reasonably deems
advisable. All sums disbursed by the Collateral Agent in connection with this Section 4.03(i),
including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto,
shall be payable, upon demand, by the Guarantors to the Collateral Agent and shall be additional
Obligations secured hereby.





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          SECTION 4.04. Other Actions. In order to further ensure the attachment, perfection and priority of,
and the ability of the Collateral Agent to enforce, for the benefit of the Secured Parties, the
Collateral Agent’s security interest in the Article 9 Collateral, each Guarantor agrees, in each
case at such Guarantor’s own expense, to take the following actions with, respect to the following
Article 9 Collateral:





     (a) Instruments and Tangible Chattel Paper. If any Guarantor shall at any time
hold or acquire any Instruments or Tangible Chattel Paper evidencing an amount in excess of
$10,000,000, such Guarantor shall forthwith endorse, assign and deliver the
same to the Collateral Agent, accompanied by such instruments of transfer or assignment
duly executed in blank as the Collateral Agent may from time to time reasonably request.




     (b) Cash Accounts. No Guarantor shall grant Control of any Deposit Account to
any Person other than the Collateral Agent.




     (c) Investment Property. Except to the extent otherwise provided in
Article III, if any Guarantor shall at any time hold or acquire any Certificated
Security, such Guarantor shall forthwith endorse, assign and deliver the same to the
Collateral Agent, accompanied by such instruments of transfer or assignment duly executed in
blank as the Collateral Agent may from time to time reasonably specify. If any security now
or hereafter acquired by any Guarantor is uncertificated and is issued to such Guarantor or
its nominee directly by the issuer thereof, upon the Collateral Agent’s reasonable request
while an Event of Default exists, such Guarantor shall promptly notify the Collateral Agent
of such uncertificated securities and pursuant to an agreement in form and substance
reasonably satisfactory to the Collateral Agent, either (i) cause the issuer to agree to
comply with instructions from the Collateral Agent as to such security, without further
consent of any Guarantor or such nominee, or (ii) cause the issuer to register the
Collateral Agent as the registered owner of such security. If any security or other
Investment Property, whether certificated or uncertificated, representing an Equity Interest
in a third party and having a fair market value in excess of $10,000,000 now or hereafter
acquired by any Guarantor is held by such Guarantor or its nominee through a securities
intermediary or commodity intermediary, such Guarantor shall promptly notify the Collateral
Agent thereof and, at the Collateral Agent’s request and option, pursuant to a Control
Agreement in form and substance reasonably satisfactory to the Collateral Agent, either (A)
cause such securities intermediary or commodity intermediary, as applicable, to agree, in
the case of a securities intermediary, to comply with entitlement orders or other
instructions from the Collateral Agent to such securities intermediary as to such securities
or other Investment Property or, in the case of a commodity intermediary, to apply any value
distributed on account of any commodity contract as directed by the Collateral Agent to such
commodity intermediary, in each case without further consent of any Guarantor or such
nominee, or (B) in the case of Financial Assets or other Investment Property held through a
securities intermediary, arrange for the Collateral Agent to become the entitlement holder
with respect to such Investment Property, for the benefit of the Secured Parties, with such
Guarantor being permitted, only with the consent of the Collateral Agent, to exercise rights
to withdraw or otherwise deal with such Investment Property. The Collateral Agent agrees
with each of the Guarantors that the Collateral



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Agent shall not give any such entitlement
orders or instructions or directions to any such issuer, securities intermediary or
commodity intermediary, and shall not withhold its consent to the exercise of any withdrawal
or dealing rights by any Guarantor, unless an Event of Default has occurred and is
continuing or, after giving effect to any such withdrawal or dealing rights, would occur.
The provisions of this paragraph (c) shall not apply to any Financial Assets credited to a
securities account for which the Collateral Agent is the securities intermediary.




     (d) Commercial Tort Claims. If any Guarantor shall at any time hold or acquire
a Commercial Tort Claim in an amount reasonably estimated to exceed $10,000,000, such
Guarantor shall promptly notify the Collateral Agent thereof in a writing signed by such
Guarantor, including a summary description of such claim, and grant to the Collateral Agent
in writing a security interest therein and in the proceeds thereof, all upon the terms of
this Agreement, with such writing to be in form and substance reasonably satisfactory to the
Collateral Agent.



          SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral.




          (a) Each Guarantor agrees that it will not knowingly do any act or omit to do any act (and
will exercise commercially reasonable efforts to prevent its licensees from knowingly doing any act
or knowingly omitting to do any act) whereby any Patent that is material to the normal conduct of
such Guarantor’s business may become prematurely invalidated or dedicated to the public, and agrees
that it shall take commercially reasonable steps with respect to any material products covered by
any such Patent as necessary and sufficient to establish and preserve its rights under applicable
patent laws.




          (b) Each Guarantor will, and will use its commercially reasonable efforts to cause its
licensees or its sublicensees to, for each owned Trademark necessary to the normal conduct of such
Guarantor’s business, (i) maintain such Trademark in full force free from any adjudication of
abandonment or invalidity for non use, (ii) maintain the quality of products and services offered
under such Trademark on all material respects, (iii) display such Trademark with notice of federal
or foreign registration or claim of trademark or service mark as required under applicable law and
(iv) not knowingly use or knowingly permit its licensees’ use of such Trademark in violation of any
third party rights.




          (c) Each Guarantor will, and will use its commercially reasonable efforts to cause its
licensees or its sublicensees to, for each work covered by a material Copyright necessary to the
normal conduct of such Guarantor’s business that it publishes, displays and distributes, use
copyright notice as required under applicable copyright laws.




          (d) Each Guarantor shall notify the Collateral Agent promptly if it knows that any Patent,
Trademark or Copyright material to the normal conduct of such Guarantor’s business may imminently
become abandoned, lost or dedicated to the public, or of any materially adverse determination or
development, (excluding office actions and similar determinations or developments in the United
States Patent and Trademark Office, United States Copyright Office, any





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court or any similar office
of any country), regarding such Guarantor’s ownership of any such material Patent, Trademark or
Copyright or its right to register or to maintain the same.




          (e) Each Guarantor, either itself or through any agent, employee, licensee or designee, shall
(i) inform the Collateral Agent on a semi-annual basis of each application by itself, or through any agent, employee, licensee or designee, for any Patent with the United
States Patent and Trademark Office and each registration of any Trademark or Copyright with the
United States Patent and Trademark Office, the United States Copyright Office or any comparable
office or agency in any other country filed during the preceding six-month period, and (ii) upon
the reasonable request of the Collateral Agent, execute and deliver any and all agreements,
instruments, documents and papers as the Collateral Agent may reasonably request to evidence the
Collateral Agent’s security interest in such Patent, Trademark or Copyright.




          (f) Each Guarantor shall exercise its reasonable business judgment in any proceeding before
the United States Patent and Trademark Office, the United States Copyright Office or any comparable
office or agency in any other country with respect to maintaining and pursuing each material
application relating to any Patent, Trademark and/or Copyright (and obtaining the relevant grant or
registration) material to the normal conduct of such Guarantor’s business and to maintain (i) each
issued Patent and (ii) the registrations of each Trademark and each Copyright, in each case that is
material to the normal conduct of such Guarantor’s business, including, when applicable and
necessary in such Guarantor’s reasonable business judgment, timely filings of applications for
renewal, affidavits of use, affidavits of incontestability and payment of maintenance fees, and, if
any Guarantor believes necessary in its reasonable business judgment, to initiate opposition,
interference and cancellation proceedings against third parties.




ARTICLE V.




Remedies




          SECTION 5.01. Remedies Upon Default. Upon the occurrence and during the continuance of a Noticed
Event of Default, each Guarantor agrees to deliver each item of Collateral to the Collateral Agent
on demand, and it is agreed that the Collateral Agent shall have the right to take any of or all
the following actions at the same or different times: (a) with respect to any Article 9 Collateral
consisting of Intellectual Property, on demand, to cause the Security Interest to become an
assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable
Guarantors to the Collateral Agent or to license or sublicense, whether general, special or
otherwise, and whether on an exclusive or a nonexclusive basis, any such Article 9 Collateral
throughout the world on such terms and conditions and in such manner as the Collateral Agent shall
determine (other than in violation of any then existing licensing arrangements to the extent that
waivers thereunder cannot be obtained) and (b) with or without legal process and with or without
prior notice or demand for performance, to take possession of the Article 9 Collateral and without
liability for trespass to enter any premises where the Article 9 Collateral may be located for the
purpose of taking possession of or removing the Article 9 Collateral and, generally, to exercise
any and all rights afforded to a secured party under the applicable Uniform Commercial Code or
other applicable law. Without limiting the generality of the foregoing, each Guarantor agrees that
the Collateral Agent shall have the right, subject to the mandatory




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requirements of applicable law,
to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at
any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as
the Collateral Agent shall deem appropriate. The Collateral Agent shall be authorized in
connection with any sale of a security (if it deems it advisable to do so)
pursuant to the foregoing to restrict the prospective bidders or purchasers to persons who
represent and agree that they are purchasing such security for their own account, for investment,
and not with a view to the distribution or sale thereof. Upon consummation of any such sale of
Collateral pursuant to this Section 5.01 the Collateral Agent shall have the right to assign,
transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such
purchaser at any such sale shall hold the property sold absolutely, free from any claim or right on
the part of any Guarantor, and each Guarantor hereby waives and releases (to the extent permitted
by law) all rights of redemption, stay, valuation and appraisal that such Guarantor now has or may
at any time in the future have under any rule of law or statute now existing or hereafter enacted.




          The Collateral Agent shall give the applicable Guarantors 10 Business Days’ written notice
(which each Guarantor agrees is reasonable notice within the meaning of Section 9 612 of the New
York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any
sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for
such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state
the board or exchange at which such sale is to be made and the day on which the Collateral, or
portion thereof, will first be offered for sale at such board or exchange. Any such public sale
shall be held at such time or times within ordinary business hours and at such place or places as
the Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the
Collateral, or the portion thereof, to be sold may be sold in one lot as an entirety or in separate
parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The
Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine
not to do so, regardless of the fact that notice of sale of such Collateral shall have been given.
The Collateral Agent may, without notice or publication, adjourn any public or private sale or
cause the same to be adjourned from time to time by announcement at the time and place fixed for
sale, and such sale may, without further notice, be made at the time and place to which the same
was so adjourned. In the case of any sale of all or any part of the Collateral made on credit or
for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale
price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any
liability in the event that any such purchaser or purchasers shall fail to take up and pay for the
Collateral so sold and, in the case of any such failure, such Collateral may be sold again upon
notice given in accordance with provisions above. At any public (or, to the extent permitted by
law, private) sale made pursuant to this Section 5.01, any Secured Party may bid for or purchase
for cash, free (to the extent permitted by law) from any right of redemption, stay, valuation or
appraisal on the part of any Guarantor (all such rights being also hereby waived and released to
the extent permitted by law), the Collateral or any part thereof offered for sale and such Secured
Party may, upon compliance with the terms of sale, hold, retain and dispose of such property in
accordance with Section 5.02 hereof without further accountability to any Guarantor therefor. For
purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be
treated as a sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to
such agreement and no Guarantor shall be entitled to the return of the Collateral or any portion
thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall





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have
entered into such an agreement all Events of Default shall have been remedied and the Obligations
paid in full. As an alternative to exercising the power of sale herein conferred upon it, the
Collateral Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a
court or courts having competent jurisdiction or pursuant to a proceeding by a court appointed
receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed to conform to
the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its
equivalent in other jurisdictions.




          SECTION 5.02. Application of Proceeds. The Collateral Agent shall promptly apply the proceeds,
moneys or balances of any collection or sale of Collateral, as well as any Collateral consisting of
cash, as follows:





     FIRST, to the payment of all costs and expenses incurred by the Administrative Agent
and the Collateral Agent in connection with such collection or sale or otherwise in
connection with this Agreement, any other Loan Document or any of the Obligations, including
all court costs and the fees and expenses of its agents and legal counsel, the repayment of
all advances made by the Administrative Agent and the Collateral Agent hereunder or under
any other Loan Document on behalf of any Guarantor and any other costs or expenses incurred
in connection with the exercise of any right or remedy hereunder or under any other Loan
Document;




     SECOND, to the ratable payment of the Obligations, and




     THIRD, once all Obligations have been paid in full, to the Guarantors, their successors
or assigns, or as a court of competent jurisdiction may otherwise direct.


The Collateral Agent shall have absolute discretion as to the time of application of any such
proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the
Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial
proceeding), the receipt of the purchase money by the Collateral Agent or of the officer making the
sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and
such purchaser or purchasers shall not be obligated to see to the application of any part of the
purchase money paid over to the Collateral Agent or such officer or be answerable in any way for
the misapplication thereof.




          SECTION 5.03. Grant of License to Use Intellectual Property. Solely for the purpose of enabling the
Collateral Agent to exercise rights and remedies under this Agreement at such time as the
Collateral Agent shall be lawfully entitled to exercise such rights and remedies, each Guarantor
hereby grants to (in the Collateral Agent’s sole discretion) a designee of the Collateral Agent or
the Collateral Agent, for the benefit of the Secured Parties, an irrevocable, nonexclusive license
(exercisable without payment of royalty or other compensation to any Guarantor) to use, license or
sublicense any of the Article 9 Collateral consisting of Intellectual Property now owned or
hereafter acquired by such Guarantor, wherever the same may be located, and including, without
limitation, in such license reasonable access to all media in which any of the licensed items may
be recorded or stored and to all computer software and programs used for the compilation or
printout thereof. The use of such license by the Collateral Agent may be





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exercised, at the option
of the Collateral Agent, while an Event of Default exists; provided that any
license, sublicense or other transaction entered into by the Collateral Agent in accordance
herewith shall be binding upon the Guarantors notwithstanding any subsequent cure of an Event of
Default.




          SECTION 5.04. Securities Act, etc. In view of the position of the Guarantors in relation to the
Pledged Collateral, or because of other current or future circumstances, a question may arise under
the Securities Act of 1933, as now or hereafter in effect, or any similar federal statute hereafter
enacted analogous in purpose or effect (such Act and any such similar statute as from time to time
in effect being called the “Federal Securities Laws”) with respect to any disposition of
the Pledged Collateral permitted hereunder. Each Guarantor understands that compliance with the
Federal Securities Laws might very strictly limit the course of conduct of the Collateral Agent if
the Collateral Agent were to attempt to dispose of all or any part of the Pledged Collateral, and
might also limit the extent to which or the manner in which any subsequent transferee of any
Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or
limitations affecting the Collateral Agent in any attempt to dispose of all or part of the Pledged
Collateral under applicable Blue Sky or other state securities laws or similar laws analogous in
purpose or effect. Each Guarantor acknowledges and agrees that in light of such restrictions and
limitations, the Collateral Agent, in its sole and absolute discretion, (a) may proceed to make
such a sale whether or not a registration statement for the purpose of registering such Pledged
Collateral or part thereof shall have been filed under the Federal Securities Laws or, to the
extent applicable, Blue Sky or other state securities laws and (b) may approach and negotiate with
a single potential purchaser to effect such sale. Each Guarantor acknowledges and agrees that any
such sale might result in prices and other terms less favorable to the seller than if such sale
were a public sale without such restrictions. In the event of any such sale, the Collateral Agent
shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at
a price that the Collateral Agent, in its sole and absolute discretion, may in good faith deem
reasonable under the circumstances, notwithstanding the possibility that a substantially higher
price might have been realized if the sale were deferred until after registration as aforesaid or
if more than a single purchaser were approached. The provisions of this Section 5.04 will apply
notwithstanding the existence of a public or private market upon which the quotations or sales
prices may exceed substantially the price at which the Collateral Agent sells.




          SECTION 5.05. Registration, etc. Each Guarantor agrees that, upon the occurrence and during the
continuance of an Event of Default, if for any reason the Collateral Agent desires to sell any of
the Pledged Collateral at a public sale, it will, at any time and from time to time, upon the
written request of the Collateral Agent, use its commercially reasonable efforts to take or to
cause the issuer of such Pledged Collateral to take such action and prepare, distribute and/or file
such documents, as are required or advisable in the reasonable opinion of counsel for the
Collateral Agent to permit the public sale of such Pledged Collateral. Each Guarantor further
agrees to indemnify, defend and hold harmless the Administrative Agent, each other Secured Party,
any underwriter and their respective officers, directors, affiliates and controlling persons from
and against all loss, liability, expenses, costs of counsel (including reasonable fees and expenses
of legal counsel to the Collateral Agent of, and claims (including the costs of investigation) that
they may incur insofar as such loss, liability, expense or claim arises out of or is based upon any
alleged untrue statement of a material fact contained in any prospectus (or any amendment





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or supplement thereto) or in any notification or offering circular, or arises out of or
is based upon any alleged omission to state a material fact required to be stated therein or
necessary to make the statements in any thereof not misleading, except insofar as the same may have
been caused by any untrue statement or omission based upon information furnished in writing to such
Guarantor or the issuer of such Pledged Collateral by the Collateral Agent or any other Secured
Party expressly for use therein. Each Guarantor further agrees, upon such written request referred
to above, to use its commercially reasonable efforts to qualify, file or register, or cause the
issuer of such Pledged Collateral to qualify, file or register, any of the Pledged Collateral under
the Blue Sky or other securities laws of such states as may be reasonably requested by the
Collateral Agent and keep effective, or cause to be kept effective, all such qualifications,
filings or registrations. Each Guarantor will bear all costs and expenses of carrying out its
obligations under this Section 5.05. Each Guarantor acknowledges that there is no adequate remedy
at law for failure by it to comply with the provisions of this Section 5.05 only and that such
failure would not be adequately compensable in damages and, therefore, agrees that its agreements
contained in this Section 5.05 may be specifically enforced.




ARTICLE VI.




Indemnity, Subrogation and Subordination




          SECTION 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and
subrogation as the Guarantors may have under applicable law (but subject to Section 6.03), each
Guarantor that is a Borrower (a “Specified Borrower”) agrees that (a) in the event a
payment shall be made by any Guarantor under this Agreement in respect of any Obligation of such
Specified Borrower that has been incurred by it as a Borrower, such Specified Borrower shall
indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated
to the rights of the person to whom such payment shall have been made to the extent of such payment
and (b) in the event any assets of any Guarantor shall be sold pursuant to this Agreement or any
other Security Document to satisfy in whole or in part an Obligation of a Specified Borrower that
has been incurred by it as a Borrower, such Specified Borrower shall indemnify such Guarantor in an
amount equal to the greater of the book value or the fair market value of the assets so sold.




          SECTION 6.02. Contribution and Subrogation. Each Guarantor (a “Contributing Guarantor”)
agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor
hereunder in respect of any Obligation or assets of any other Guarantor shall be sold pursuant to
any Security Document to satisfy any Obligation and such other Guarantor (the “Claiming
Guarantor”) shall not have been fully indemnified by the Borrower of such Obligation as
provided in Section 6.01 or otherwise, the Contributing Guarantor shall indemnify the Claiming
Guarantor in an amount equal to the amount of such payment or the greater of the book value or the
fair market value of such assets, as applicable, in each case multiplied by a fraction of which the
numerator shall be the net worth of such Contributing Guarantor on the date hereof and the
denominator shall be the aggregate net worth of all the Guarantors on the date hereof (or, in the
case of any Guarantor becoming a party hereto pursuant to Section 7.16, the date of the supplement
hereto executed and delivered by such Guarantor). Any Contributing Guarantor





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making any payment to a Claiming Guarantor pursuant to this Section 6.02 shall be subrogated
to the rights of such Claiming Guarantor under Section 6.01 to the extent of such payment.




     SECTION 6.03. Subordination.



     (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the
Guarantors under Sections 6.01 and 6.02 and all other rights of indemnity, contribution or
subrogation of the Guarantor under applicable law or otherwise shall be fully subordinated to the
indefeasible payment in full in cash of the Obligations. No failure on the part of any Borrower or
any Guarantor to make the payments required by Sections 6.01 and 6.02 (or any other payments
required under applicable law or otherwise) shall in any respect limit the obligations and
liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall
remain liable for the full amount of the obligations of such Guarantor hereunder.



     (b) Each Guarantor hereby agrees that all Indebtedness and other monetary obligations owed by
it to any other Guarantor or any Subsidiary shall be subordinated to the indefeasible payment in
full in cash of the Obligations in the manner set forth in Exhibit F to the Credit Agreement.



ARTICLE VII.




Miscellaneous




     SECTION 7.01. Notices. All communications and notices hereunder shall (except as
otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the
Credit Agreement. All communications and notices hereunder to any Subsidiary Party shall be given
to it in care of the Company, with such notice to be given as provided in Section 9.01 of the
Credit Agreement.



     SECTION 7.02. Security Interest Absolute. All rights of the Collateral Agent
hereunder, the Security Interest, the security interest in the Pledged Collateral and all
obligations of each Guarantor hereunder shall be absolute and unconditional irrespective of (a) any
lack of validity or enforceability of the Credit Agreement, any other Loan Document, any agreement
with respect to any of the Obligations or any other agreement or instrument relating to any of the
foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all
or any of the Obligations, or any other amendment or waiver of or any consent to any departure from
the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any
exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or
waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of
the Obligations or (d) any other circumstance that might otherwise constitute a defense available
to, or a discharge of, any Guarantor in respect of the Obligations or this Agreement.



     SECTION 7.03. [Reserved].



     SECTION 7.04. Binding Effect; Several Agreement. This Agreement shall become
effective as to any party to this Agreement when a counterpart hereof executed on behalf



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of such party shall have been delivered to the Administrative Agent and a counterpart hereof
shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon
such party and the Collateral Agent and their respective permitted successors and assigns, and
shall inure to the benefit of such party, the Collateral Agent and the other Secured Parties and
their respective permitted successors and assigns, except that no party shall have the right to
assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral
(and any such assignment or transfer shall be void) except as expressly contemplated by this
Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with
respect to each party and may be amended, modified, supplemented, waived or released with respect
to any party without the approval of any other party and without affecting the obligations of any
other party hereunder.




     SECTION 7.05. Successors and Assigns. Whenever in this Agreement any of the parties
hereto is referred to, such reference shall be deemed to include the permitted successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor
or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of
their respective permitted successors and assigns.



     SECTION 7.06. Collateral Agent’s Fees and Expenses; Indemnification.



     (a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of
its expenses incurred hereunder as provided in Section 9.05 of the Credit Agreement.



     (b) Without limitation of its indemnification obligations under the other Loan Documents, each
Guarantor jointly and severally agrees to indemnify the Collateral Agent and the other Indemnitees
(as defined in Section 9.05 of the Credit Agreement) against, and hold each Indemnitee harmless
from, any and all losses, claims, damages, liabilities and related expenses, including reasonable
counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out
of, in connection with, or as a result of, (i) the execution, delivery or performance of this
Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto and thereto of their respective obligations thereunder or the
consummation of the Transactions and other transactions contemplated hereby, (ii) the use of
proceeds of the Loans or the use of any Letter of Credit or (iii) any claim, litigation,
investigation or proceeding relating to any of the foregoing, or to the Collateral, whether or not
any Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses result primarily from the gross negligence or willful misconduct of such Indemnitee
(treating for the purposes of this Section 7.06(b) only any Secured Party and its Related Parties
as a single Indemnitee).



     (c) Any such amounts payable as provided hereunder shall be additional Obligations hereunder.
The provisions of this Section 7.06 shall remain operative and in full force and effect regardless
of the termination of this Agreement or any other Loan Document, the consummation of the
transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan Document, or any
investigation made by or on behalf of the Collateral Agent or any other



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Secured Party. All amounts due under this Section 7.06 shall be payable on written demand
therefor (accompanied by a reasonably detailed computation of the amounts to be paid).




     SECTION 7.07. Collateral Agent Appointed Attorney-in-Fact. Each Guarantor hereby
appoints the Collateral Agent the attorney-in-fact of such Guarantor for the purpose, during the
continuance of an Event of Default, of carrying out the provisions of this Agreement and taking any
action and executing any instrument that the Collateral Agent may deem necessary or advisable to
accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest.
Without limiting the generality of the foregoing, the Collateral Agent shall have the right, upon
the occurrence and during the continuance of a Noticed Event of Default, with full power of
substitution either in the Collateral Agent’s name or in the name of such Guarantor, (a) to
receive, endorse, assign or deliver any and all notes, acceptances, checks, drafts, money orders or
other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect,
receive payment of, give receipt for and give discharges and releases of all or any of the
Collateral; (c) to ask for, demand, sue for, collect, receive and give acquittance for any and all
moneys due or to become due under and by virtue of any Collateral; (d) to sign the name of any
Guarantor on any invoice or bill of lading relating to any of the Collateral; (e) to send
verifications of Accounts to any Account Debtor; (f) to commence and prosecute any and all suits,
actions or proceedings at law or in equity in any court of competent jurisdiction to collect or
otherwise realize on all or any of the Collateral or to enforce any rights in respect of any
Collateral; (g) to settle, compromise, compound, adjust or defend any actions, suits or proceedings
relating to all or any of the Collateral; (h) to notify, or to require any Guarantor to notify,
Account Debtors to make payment directly to the Collateral Agent; and (i) to use, sell, assign,
transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the
Collateral, and to do all other acts and things necessary to carry out the purposes of this
Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the
Collateral for all purposes; provided, that nothing herein contained shall be construed as
requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to
the nature or sufficiency of any payment received by the Collateral Agent, or to present or file
any claim or notice, or to take any action with respect to the Collateral or any part thereof or
the moneys due or to become due in respect thereof or any property covered thereby. The Collateral
Agent and the other Secured Parties shall be accountable only for amounts actually received as a
result of the exercise of the powers granted to them herein, and neither they nor their officers,
directors, employees or agents shall be responsible to any Guarantor for any act or failure to act
hereunder, except for their own gross negligence or willful misconduct.



     SECTION 7.08. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK.



     SECTION 7.09. Waivers; Amendment.



     (a) No failure or delay by the Administrative Agent, the Collateral Agent, any Issuing Bank or
any Lender in exercising any right, power or remedy hereunder or under any other Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of



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any such right, power or remedy, or any abandonment or discontinuance of steps to enforce such
a right, power or remedy, preclude any other or further exercise thereof or the exercise of any
other right, power or remedy. The rights, powers and remedies of the Administrative Agent, the
Collateral Agent, any Issuing Bank and the Lenders hereunder and under the other Loan Documents are
cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have.
No waiver of any provision of this Agreement or consent to any departure by any Loan Party
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of
this Section 7.09, and then such waiver or consent shall be effective only in the specific instance
and for the purpose for which given. Without limiting the generality of the foregoing, the making
of a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default
or Event of Default, regardless of whether the Administrative Agent, the Collateral Agent, any
Lender or any Issuing Bank may have had notice or knowledge of such Default or Event of Default at
the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any
other or further notice or demand in similar or other circumstances.




     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Loan
Party or Loan Parties with respect to which such waiver, amendment or modification is to apply (or,
at its election and after the Effective Date, by Holdings on behalf of all such Loan Parties),
subject to any consent required in accordance with Section 9.08 of the Credit Agreement.



     SECTION 7.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.10.



     SECTION 7.11. Severability. In the event any one or more of the provisions contained
in this Agreement or in any other Loan Document should be held invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein
and therein shall not in any way be affected or impaired thereby. The parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.



     SECTION 7.12. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original but all of which when taken together shall



-30-









 




constitute but one contract, and shall become effective as provided in Section 7.04. Delivery
of an executed counterpart to this Agreement by facsimile transmission shall be as effective as
delivery of a manually signed original.




     SECTION 7.13. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and are not to affect
the construction of, or to be taken into consideration in interpreting, this Agreement.



     SECTION 7.14. Jurisdiction; Consent to Service of Process.



     (a) Each party to this Agreement hereby irrevocably and unconditionally submits, for itself
and its property, to the nonexclusive jurisdiction of any New York State court or federal court of
the United States of America sitting in New York City, and any appellate court from any thereof, in
any action or proceeding arising out of or relating to this Agreement or any other Loan Documents,
or for recognition or enforcement of any judgment, and each of the parties hereto hereby
irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding
may be heard and determined in such New York State or, to the extent permitted by law, in such
federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing in this Agreement shall affect any right that the
Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender may otherwise have to
bring any action or proceeding relating to this Agreement or any other Loan Document against any
Guarantor, or its properties, in the courts of any jurisdiction.



     (b) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
or any other Loan Document in any New York State or federal court. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient
forum to the maintenance of such action or proceeding in any such court.



     SECTION 7.15. Termination or Release.



     (a) This Agreement, the guarantees made herein, the Security Interest and all other security
interests granted hereby shall terminate on the first date when all the Obligations (other than
contingent indemnity and similar obligations with respect to which no amounts are then owing) have
been indefeasibly paid in full in cash and the Lenders have no further commitment to lend under the
Credit Agreement, the Revolving L/C Exposure and CL Exposure each has been reduced to zero and each
Issuing Bank has no further obligations to issue Letters of Credit under the Credit Agreement (or
each Issuing Bank has received cash or other collateral satisfactory to it covering such exposure
and Letters of Credit).



     (b) A Subsidiary Party shall automatically be released from its obligations hereunder and the
security interests in the Collateral of such Subsidiary Party shall be automatically released upon
the consummation of any transaction permitted by the Credit Agreement as a result of which such
Subsidiary Party ceases to be a Subsidiary of the Company; provided that



-31-









 




the Required Lenders shall have consented to such transaction (to the extent such consent is
required by the Credit Agreement) and the terms of such consent did not provide otherwise.




     (c) Upon any Guarantor becoming an Unrestricted Subsidiary, such Unrestricted Subsidiary shall
automatically be released from its obligations hereunder and the security interests in the
Collateral of such Unrestricted Subsidiary shall be automatically released.



     (d) Upon any Permitted Receivables Financing permitted by the Credit Agreement, the Equity
Interests of a Special Purpose Receivables Subsidiary shall be automatically released from the
security interest in such Equity Interests granted hereby.



     (e) Upon any sale or other transfer by any Guarantor of any Collateral that is permitted under
the Credit Agreement to any person that is not a Guarantor, or upon the effectiveness of any
written consent to the release of the security interest granted hereby in any Collateral pursuant
to Section 9.08 of the Credit Agreement, the security interest in such Collateral shall be
automatically released.



     (f) In connection with any termination or release pursuant to paragraph (a), (b), (c), (d) or
(e) of this Section 7.15, the Collateral Agent shall execute and deliver to any Guarantor, at such
Guarantor’s expense, all documents that such Guarantor shall reasonably request to evidence such
termination or release. Any execution and delivery of documents pursuant to this Section 7.15
shall be without recourse to or warranty by the Collateral Agent.



     SECTION 7.16. Additional Parties. On the date occurring after the Effective Date on
which a Person first becomes a Domestic Subsidiary, such Person shall, to the extent required by
Section 5.10 of the Credit Agreement, become a party hereto as a Guarantor. Upon execution and
delivery by the Collateral Agent and any such Person of a Supplement, such Person shall become a
Guarantor hereunder with the same force and effect as if originally named as a Guarantor herein.
The execution and delivery of a Supplement shall not require the consent of any other party to this
Agreement. The rights and obligations of each party to this Agreement shall remain in full force
and effect notwithstanding the addition of any new party to this Agreement.



     SECTION 7.17. Right of Set-off. Each Lender and each Issuing Bank is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, upon any
amount becoming due and payable by any Guarantor hereunder (whether at the stated maturity, by
acceleration or otherwise) after the expiration of any cure or grace periods, to set off and apply
against such amount any and all deposits (general or special, time or demand, provisional or final)
at any time held and other indebtedness at any time owing by such Lender or such Issuing Bank to or
for the credit or the account of any party to this Agreement, matured or unmatured, irrespective of
whether or not such Lender or such Issuing Bank shall have made any demand under this Agreement.
The rights of each Lender under this Section 7.17 are in addition to other rights and remedies
(including other rights of set off) that such Lender or such Issuing Bank may have.



[Signature Page Follows]




-32-









 





     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.






	 	 	 	 	 
	 	CELANESE HOLDINGS LLC

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 
	 	CELANESE US HOLDINGS LLC

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 
	 	CELANESE AMERICAS CORPORATION

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 
	 	BCP CRYSTAL US 2 L.L.C.

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 
	 	CELANESE ACETATE LLC

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 




 









 








	 	 	 	 	 
	 	CELANESE CHEMICALS, INC.

 	 
	 	By:  	/s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 




 









 






	 	 	 	 	 	 	 
	 	 	CELANESE FIBERS OPERATIONS, LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Christopher Gannon 
	 

	 	
	 	Christopher Gannon

	 	 
	 

	 		 	Vice President and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	CELANESE HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	  
	 

	 		 	President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	CELANESE INTERNATIONAL CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	CELANESE LTD. (Texas)	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer,
Celanese International Corporation, General Partner of Celanese Ltd.	 	 






 









 






	 	 	 	 	 	 	 
	 	 	CELANESE OVERSEAS CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	President and Treasurer 	 	 
	 
	 	 	 	 	 	 
	 	 	CELANESE PIPE LINE COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	CELTRAN, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer	 	 






 









 






	 	 	 	 	 	 	 
	 	 	CNA FUNDING LLC	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields 

	 	 
	 

	 		 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	CNA HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields 

	 	 
	 

	 		 	President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	FKAT LLC	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields 

	 	 
	 

	 		 	President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	TICONA FORTRON INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Christopher Gannon 
	 

	 	
	 	Christopher Gannon

	 	 
	 

	 		 	Vice President and Secretary	 	 





     TICONA GUR SERVICES, INC.



	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ Christopher Gannon
 	 
	 	 	Christopher Gannon 	 
	 	 	Vice President and Secretary 	 
	 




 









 






	 	 	 	 	 	 	 
	 	 	TICONA LLC	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	TICONA POLYMERS, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James E. Shields 
	 

	 	
	 	James E. Shields

	 	 
	 

	 		 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 







KEP AMERICAS ENGINEERING PLASTICS, LLC




	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ James E. Shields
 	 
	 	 	James E. Shields 	 
	 	 	Vice President and Treasurer 	 
	 





 









 





	 	 	 	 	 
	 	DEUTSCHE BANK AG, NEW YORK BRANCH,

     as Collateral Agent

 	 
	 	By:  	/s/ Evelyn Thierry
 	 
	 	 	Evelyn Thierry 	 
	 	 	Vice President 	 
	 
	 	 	 
	 	By:  	     /s/ Omayra Laucella
 	 
	 	 	Omayra Laucella 	 
	 	 	Vice President