exv10w1



 






Exhibit 10.1




 










CREDIT AGREEMENT




dated as of September 21, 2007




among




HARRIS INTERACTIVE INC.,

as Borrower




THE LENDERS PARTY HERETO




and




JPMORGAN CHASE BANK,

NATIONAL ASSOCIATION,

as Administrative Agent




 






J.P. MORGAN SECURITIES INC.,

as Sole Bookrunner and Sole Lead Arranger




MANUFACTURERS AND TRADERS TRUST COMPANY,

as Syndication Agent




 





 









 





TABLE OF CONTENTS




	 	 	 	 	 
	 	 	Page	 
	ARTICLE I. Definitions
	 	 	1	 
	Section 1.1. Defined Terms
	 	 	1	 
	Section 1.2. Classification of Loans and Borrowings
	 	 	21	 
	Section 1.3. Terms Generally
	 	 	22	 
	Section 1.4. Accounting Terms; GAAP
	 	 	22	 
	ARTICLE II. The Credits
	 	 	22	 
	Section 2.1. Loans
	 	 	22	 
	Section 2.2. Loans and Borrowings
	 	 	23	 
	Section 2.3. Requests for Borrowings
	 	 	23	 
	Section 2.4. Increase in Revolving Credit Facility
	 	 	24	 
	Section 2.5. Letters of Credit
	 	 	26	 
	Section 2.6. Funding of Borrowings
	 	 	30	 
	Section 2.7. Interest Elections
	 	 	30	 
	Section 2.8. Termination and Reduction of Commitments
	 	 	32	 
	Section 2.9. Evidence of Debt
	 	 	32	 
	Section 2.10. Prepayment and Repayments of Loans
	 	 	33	 
	Section 2.11. Fees
	 	 	34	 
	Section 2.12. Interest
	 	 	35	 
	Section 2.13. Alternate Rate of Interest
	 	 	36	 
	Section 2.14. Increased Costs
	 	 	36	 
	Section 2.15. Break Funding Payments
	 	 	37	 
	Section 2.16. Taxes
	 	 	38	 
	Section 2.17. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	39	 
	Section 2.18. Mitigation Obligations; Replacement of Lenders
	 	 	41	 
	ARTICLE III. Representations and Warranties
	 	 	41	 
	Section 3.1. Organization; Powers
	 	 	42	 
	Section 3.2. Authorization; Enforceability
	 	 	42	 
	Section 3.3. Governmental Approvals; No Conflicts
	 	 	42	 
	Section 3.4. Financial Condition; No Material Adverse Change
	 	 	42	 
	Section 3.5. Properties; Liens
	 	 	42	 






i 









 




TABLE OF CONTENTS
(continued)





	 	 	 	 	 
	 	 	Page	 
	Section 3.6. Litigation and Environmental Matters
	 	 	43	 
	Section 3.7. Compliance with Laws and Agreements
	 	 	43	 
	Section 3.8. Investment and Holding Company Status
	 	 	43	 
	Section 3.9. Taxes
	 	 	43	 
	Section 3.10. ERISA
	 	 	44	 
	Section 3.11. Subsidiaries
	 	 	44	 
	Section 3.12. Federal Regulations
	 	 	44	 
	Section 3.13. Specially Designated Nationals or Blocked Persons List
	 	 	44	 
	Section 3.14. Collateral Documents
	 	 	44	 
	Section 3.15. Disclosure
	 	 	44	 
	ARTICLE IV. Conditions
	 	 	45	 
	Section 4.1. Effective Date
	 	 	45	 
	Section 4.2. Each Credit Event
	 	 	47	 
	ARTICLE V. Affirmative Covenants
	 	 	48	 
	Section 5.1. Financial Statements; Ratings Change and Other Information
	 	 	48	 
	Section 5.2. Notices of Material Events
	 	 	50	 
	Section 5.3. Existence; Conduct of Business
	 	 	50	 
	Section 5.4. Payment of Obligations
	 	 	50	 
	Section 5.5. Maintenance of Properties; Insurance
	 	 	50	 
	Section 5.6. Books and Records; Inspection Rights
	 	 	50	 
	Section 5.7. Compliance with Laws
	 	 	51	 
	Section 5.8. Use of Proceeds and Letters of Credit
	 	 	51	 
	Section 5.9. Additional Guarantors; Additional Loan Parties
	 	 	51	 
	Section 5.10. Pledges of Additional Equity Interests
	 	 	52	 
	ARTICLE VI. Negative Covenants
	 	 	52	 
	Section 6.1. Indebtedness
	 	 	52	 
	Section 6.2. Liens
	 	 	53	 
	Section 6.3. Fundamental Changes; Line of Business
	 	 	54	 
	Section 6.4. Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	54	 
	Section 6.5. Swap Agreements
	 	 	55	 






ii 









 




TABLE OF CONTENTS
(continued)





	 	 	 	 	 
	 	 	Page	 
	Section 6.6. Restricted Payments
	 	 	55	 
	Section 6.7. Transactions with Affiliates
	 	 	55	 
	Section 6.8. Restrictive Agreements
	 	 	55	 
	Section 6.9. Financial Covenants
	 	 	56	 
	Section 6.10. Capital Expenditures
	 	 	56	 
	Section 6.11. Accounting Changes
	 	 	56	 
	ARTICLE VII. Events of Default
	 	 	56	 
	Section 7.1. Events of Default
	 	 	56	 
	Section 7.2. Application of Payments
	 	 	59	 
	ARTICLE VIII. The Administrative Agent; ETC
	 	 	60	 
	ARTICLE IX. Miscellaneous
	 	 	62	 
	Section 9.1. Notices
	 	 	62	 
	Section 9.2. Waivers; Amendments
	 	 	62	 
	Section 9.3. Expenses; Indemnity; Damage Waiver
	 	 	63	 
	Section 9.4. Successors and Assigns
	 	 	64	 
	Section 9.5. Survival
	 	 	68	 
	Section 9.6. Counterparts; Integration; Effectiveness
	 	 	68	 
	Section 9.7. Severability
	 	 	69	 
	Section 9.8. Right of Setoff
	 	 	69	 
	Section 9.9. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	69	 
	Section 9.10. WAIVER OF JURY TRIAL
	 	 	70	 
	Section 9.11. Headings
	 	 	70	 
	Section 9.12. Confidentiality
	 	 	70	 
	Section 9.13. Interest Rate Limitation
	 	 	71	 
	Section 9.14. USA PATRIOT Act
	 	 	71	 






iii 









 





SCHEDULES:




Schedule 2.1 — Commitments

Schedule 3.11 — Subsidiaries

Schedule 6.1 — Existing Indebtedness

Schedule 6.2 — Existing Liens




EXHIBITS:




Exhibit A — Form of Assignment and Assumption

Exhibit B — Form of Opinion of Borrower’s Counsel

Exhibit C-1 — Form of Revolving Credit Note

Exhibit C-2 — Form of Term A Note

Exhibit C-3 — Form of Multiple Advance Term Loan Note

Exhibit D — Form of Borrowing Request

Exhibit E — Form of Compliance Certificate

Exhibit F — Form of Master Guaranty

Exhibit G — Form of Master Securities Pledge Agreement




 









 





     CREDIT AGREEMENT dated as of September 21, 2007, among HARRIS INTERACTIVE INC., the LENDERS
party hereto, and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent.



     The parties hereto agree as follows:



ARTICLE I.

DEFINITIONS




          SECTION 1.1. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:




     “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the Alternate Base Rate.



     “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to
(a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.



     “Administrative Agent” means JPMorgan Chase Bank, in its capacity as administrative
agent for the Lenders hereunder.



     “Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Administrative Agent.



     “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.



     “Alternate Base Rate” means, for any day, a rate per annum equal to the greater of (a)
the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the
Federal Funds Effective Rate shall be effective from and including the effective date of such
change in the Prime Rate or the Federal Funds Effective Rate, respectively.



     “Applicable Percentage” means (a) in respect of the Term A Facility, with respect to
any Term A Lender at any time, the percentage of the Term A Facility represented by (i) on or prior
to the Effective Date, such Term A Lender’s Term A Commitment at such time and (ii) thereafter, the
principal amount of such Term A Lender’s Term A Loans at such time, (b) in respect of the Multiple
Advance Term Loan Facility, with respect to any Multiple Advance Term Lender at any time, the
percentage of the Multiple Advance Term Lender Facility represented by the sum of (i) at any time
during the Availability Period in respect of such Facility, such Multiple Advance Term Lender’s
Multiple Advance Term Loan Commitment at such time and (ii) the principal amount of such Multiple
Advance Term Lender’s Multiple Advance Term Loans at such time and (c) in respect of the Revolving
Credit Facility, with respect to any Revolving Credit Lender at any time, the percentage of the
Revolving Credit Facility represented by such Revolving Credit Lender’s Revolving Credit Commitment
at such time. If the commitment of each Lender to make Loans and the obligation of the Issuing
Bank to issue, extend or renew Letters of Credit have been terminated pursuant to Article
VII, or if the Commitments have expired, then the Applicable Percentage of each Lender in
respect of the applicable Facility shall



 









 







be determined based on the Applicable Percentage of such Lender in respect of such Facility
most recently in effect, giving effect to any subsequent assignments. The initial Applicable
Percentage of each Lender in respect of each Facility is set forth opposite the name of such Lender
on Schedule 2.1 or in the Assignment and Assumption pursuant to which such Lender becomes a
party hereto, as applicable.



     “Applicable Rate” means, for any day, with respect to any Eurodollar Loan, or with
respect to the Letter of Credit fees and commitment fees payable hereunder, as the case may be, the
applicable rate per annum set forth below under the caption “Eurodollar Applicable Rate”, “Letter
of Credit Applicable Rate” or “Commitment Fee Rate”, as the case may be, (a) from the Effective
Date to the date on which the Administrative Agent receives a Compliance Certificate pursuant to
Section 5.1(c) for the Measurement Period ending December 31, 2007, Pricing Level 2 shall
apply and (b) thereafter, as determined by reference to the Consolidated Total Leverage Ratio of
the Borrower as set forth in the most recent Compliance Certificate received by the Administrative
Agent pursuant to Section 5.1(c):



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Eurodollar	 	 	 	 
	 	 	Consolidated Total	 	Applicable	 	Letter of Credit	 	Commitment Fee
	Pricing Level	 	Leverage Ratio	 	Rate	 	Applicable Rate	 	Rate
	1	 	Greater than or equal to 2.0
	 	 	1.00	%	 	 	1.00	%	 	 	0.175	%
	2	 	Greater than or equal to 1.5 but less than 2.0
	 	 	0.875	%	 	 	0.875	%	 	 	0.15	%
	3	 	Greater than or equal to 1.0 but less than 1.5
	 	 	0.75	%	 	 	0.75	%	 	 	0.125	%
	4	 	Less than 1.0
	 	 	0.625	%	 	 	0.625	%	 	 	0.10	%






     Any increase or decrease in the Applicable Rate resulting from a change in the
Consolidated Total Leverage Ratio shall become effective as of the first Business Day immediately
following the date a Compliance Certificate is delivered pursuant to Section 5.1(c);
provided, however, that if a Compliance Certificate is not delivered when due in
accordance with such Section, then Pricing Level 1 shall apply as of the first Business Day after
the date on which such Compliance Certificate was required to have been delivered through and
including the tenth Business Day after delivery of such Compliance Certificate, unless the delivery
of such Compliance Certificate is waived or the date for delivery thereof extended in writing by
the Administrative Agent and the Required Lenders in their sole discretion. In the event either
the Borrower or the Administrative Agent determines, in good faith, that the calculation of the
Consolidated Total Leverage Ratio on which the Applicable Rate for any particular period was
determined is inaccurate and, as a consequence thereof, the Applicable Rate originally calculated
was lower than it would have been if the Consolidated Leverage Ratio had been correctly calculated,
(i) the Borrower shall immediately deliver to the Administrative Agent a corrected Compliance
Certificate for such period (and if such Compliance Certificate is not accurately restated and
delivered within five Business Days after the first discovery of such inaccuracy, then Pricing
Level 1 shall apply retroactively for such period notwithstanding any subsequent restatement
thereof after such five Business Day period), (ii) the Administrative Agent shall determine and
notify the Borrower of the amount of interest that would have been due in respect of any
outstanding Obligations during such period had the Applicable Rate been calculated based on the



2









 







corrected Consolidated Total Leverage Ratio (or the Pricing Level 1 Applicable Rate if such
corrected Compliance Certificate was not delivered within the required time period) and (iii) the
Borrower shall promptly pay to the Administrative Agent the difference between that amount and the
amount actually paid in respect of such period. The foregoing shall in no way limit the
rights of the Administrative Agent or the Lenders to exercise their rights to impose interest
at the default rate as set forth in Section 2.12 or any other remedies provided in the Loan
Documents.



          “Approved Auditor” means PriceWaterhouse Coopers LLP or any other independent public
accountants of recognized national standing and reasonably acceptable to the Administrative Agent.




     “Approved Fund” has the meaning assigned to such term in Section 9.4.



     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section
9.4), and accepted by the Administrative Agent, in the form of Exhibit A or any other
form approved by the Administrative Agent.



     “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.



     “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.



     “Borrower” means Harris Interactive Inc., a Delaware corporation.



     “Borrower Materials” has the meaning set forth in Section 5.1.



     “Borrowing” means a Revolving Credit Borrowing, a Term A Loan Borrowing or a Multiple
Advance Term Loan Borrowing.



     “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.3.



     “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in
the London interbank market.



     “Capital Expenditures” means, with respect to any Person for any period, any
expenditure in respect of the purchase or other Permitted Acquisition of any fixed or capital asset
(excluding normal replacements and maintenance which are properly charged to current operations).



     “Capitalized Leases” means all leases or other arrangement conveying the right to use
real or personal property, or a combination thereof, that have been or should be, in accordance
with GAAP, recorded as capital leases.



     “Capitalized Lease Obligations” of any Person means the obligations of such Person to
pay rent or other amounts under any Capitalized Lease.



     “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the
date



3









 







hereof), of Equity Interests representing more than 25% of the aggregate ordinary voting power
represented by the issued and outstanding Equity Interests of the Borrower; (b) occupation of a
majority of the seats (other than vacant seats) on the board of directors of the Borrower by
Persons who were neither (i) nominated by the board of directors of the Borrower nor (ii) appointed
by directors so nominated; or (c) the acquisition of direct or indirect Control of the Borrower by
any Person or group.



     “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.14(b), by any
lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any)
with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement.



     “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans, Term A Loans or Multiple Advance Term
Loans.



     “Code” means the Internal Revenue Code of 1986, as amended from time to time.



     “Collateral Documents” means, collectively, the Pledge Agreement and each other
agreement, instrument or document that creates or purports to create a Lien in favor of the
Administrative Agent for the benefit of the Lenders and the Administrative Agent.



     “Commitment” means a Revolving Credit Commitment, a Term A Commitment or a Multiple
Advance Term Loan Commitment, as the context may require.



     “Consolidated Adjusted EBITDA” means, at any date of determination, an amount equal to
Consolidated Net Income of the Borrower and its Subsidiaries on a consolidated basis for the most
recently completed Measurement Period plus (a) the following to the extent deducted in calculating
such Consolidated Net Income: (i) Consolidated Interest Charges, (ii) the provision for Federal,
state, local and foreign income taxes payable, (iii) depreciation and amortization expense, (iv)
non-cash equity compensation expense accounted for under SFAS No. 123(R), and (v) other
non-recurring expenses reducing such Consolidated Net Income which do not represent a cash item in
such period or any future period (in each case of or by the Borrower and its Subsidiaries for such
Measurement Period) and minus (b) the following to the extent included in calculating such
Consolidated Net Income: (i) Federal, state, local and foreign income tax credits and (ii) all
non-cash items increasing Consolidated Net Income (in each case of or by the Borrower and its
Subsidiaries for such Measurement Period).



     “Consolidated Funded Indebtedness” means, as of any date of determination, for the
Borrower and its Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal
amount of all obligations, whether current or long-term, for borrowed money (including Obligations
hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other
similar instruments, (b) all purchase money Indebtedness (not including Earn-Out Obligations), (c)
all obligations arising under letters of credit (including standby and commercial letters of credit
and LC Exposure), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (d)
all obligations in respect of the deferred purchase price of property or services (other than trade
accounts payable in the ordinary course of business and Earn-Out Obligations),



4









 




(e) all Capitalized Lease Obligations, (f) without duplication, all Guarantees with respect to
outstanding Indebtedness of the types specified in clauses (a) through (e) above of
Persons other than the Borrower or any Subsidiary, and (g) all Indebtedness of the types referred
to in clauses (a) through (f) above of any partnership or joint venture (other than
a joint venture that is itself a corporation or limited liability company) in which the Borrower or
a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made
non-recourse to the Borrower or such Subsidiary.




     “Consolidated Interest Charges” means, for any Measurement Period, the sum of (a) all
interest, premium payments, debt discount, fees, charges and related expenses in connection with
borrowed money (including capitalized interest) or in connection with the deferred purchase price
of assets, in each case to the extent treated as interest in accordance with GAAP, (b) all interest
paid or payable with respect to discontinued operations and (c) the portion of rent expense under
Capitalized Leases that is treated as interest in accordance with GAAP, in each case, of or by the
Borrower and its Subsidiaries on a consolidated basis for the most recently completed Measurement
Period.



     “Consolidated Interest Coverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Interest Charges, in each case, of
the Borrower and its Subsidiaries on a consolidated basis for the most recently completed
Measurement Period.



     “Consolidated Net Income” means, at any date of determination, the net income (or
loss) of the Borrower and its Subsidiaries on a consolidated basis for the most recently completed
Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary
gains and extraordinary losses for such Measurement Period, (b) the net income of any Subsidiary
during such Measurement Period to the extent that the declaration or payment of dividends or
similar distributions by such Subsidiary of such income is not permitted by operation of the terms
of its Organization Documents or any agreement, instrument or law applicable to such Subsidiary
during such Measurement Period, except that the Borrower’s equity in any net loss of any such
Subsidiary for such Measurement Period shall be included in determining Consolidated Net Income,
and (c) any income (or loss) for such Period of any Person if such Person is not a Subsidiary,
except that the Borrower’s equity in the net income of any such Person for such Measurement Period
shall be included in Consolidated Net Income up to the aggregate amount of cash actually
distributed by such Person during such Period to the Borrower or a Subsidiary as a dividend or
other distribution (and in the case of a dividend or other distribution to a Subsidiary, such
Subsidiary is not precluded from further distributing such amount to the Borrower as described in
clause (b) of this proviso).



     “Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio
of (a) Consolidated Funded Indebtedness as of the last day of the most recently ended Measurement
Period for which a Compliance Certificate is being or has been delivered to (b) Consolidated
Adjusted EBITDA of Borrower and its Subsidiaries on a consolidated basis for such Measurement
Period.



     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise
voting power, by contract or otherwise. “Controlling” and “Controlled” have
meanings correlative thereto.



5









 





     “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the
United States or other applicable jurisdictions from time to time in effect and affecting the
rights of creditors generally.



     “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.



     “dollars” or “$” refers to lawful money of the United States of America.



     “Domestic Subsidiary” shall mean each Subsidiary of a Loan Party that is organized
under the applicable laws of the United States, any state, territory, protectorate or commonwealth
thereof, or the District of Columbia.



     “Earn-Out Obligations” means obligations incurred by the Borrower or its Subsidiaries
to make contingent payments of purchase price in connection with Permitted Acquisitions based
solely upon future performance of the acquired business exceeding expected benchmarks as set forth
in the definitive purchase agreement, such calculations of such future performance to be made in
good faith by a Responsible Officer of the Borrower.



     “Effective Date” means the date on which the conditions specified in Section
4.1 are satisfied (or waived in accordance with Section 9.2).



     “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into
by any Governmental Authority, relating in any way to the environment, preservation or reclamation
of natural resources, the management, release or threatened release of any Hazardous Material or to
health and safety matters.



     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any
Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or
threatened release of any Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.



     “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.



     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time.



     “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code
or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code.



6









 





     “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC
or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the
receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is,
or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.



     “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such
Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by
reference to the Adjusted LIBO Rate.



     “Event of Default” has the meaning assigned to such term in Section 7.1.



     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the
Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of
the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income
by the United States of America, or by the jurisdiction under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any Lender, in which its
applicable lending office is located, (b) any branch profits taxes imposed by the United States of
America or any similar tax imposed by any other jurisdiction in which the Borrower is located and
(c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower
under Section 2.18(b)), any withholding tax that is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a
new lending office) or is attributable to such Foreign Lender’s failure to comply with Section
2.16(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled,
at the time of designation of a new lending office (or assignment), to receive additional amounts
from the Borrower with respect to such withholding tax pursuant to Section 2.16(a).



     “Existing Credit Agreement” means the Credit Agreement dated July 19, 2006 (as
amended) between the Borrower and JP Morgan Chase Bank, N.A.



     “Existing Letters of Credit” means, collectively, the letters of credit issued under
the Existing Credit Agreement (i) made in favor of 5 Independence SPE, LLC with reference number
TTTS-285117, in an original face amount of $88,600.00 and issued on September 28, 2006, (ii) made
in favor of Merritt 7 Venture L.L.C. with reference number TTTS-285118, in an original face amount
of $57,126.00 and issued on September 28, 2006 and (iii) made in favor of Scotiabank with reference
number TTTS-399880, in an original face amount of $50,000.



     “Facility” means, collectively, the Revolving Credit Facility, the Term A Facility and
the Multiple Advance Term Loan Facility.



7









 





     “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.



     “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower.



     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrower is located. For purposes of this definition, the United
States of America, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.



     “Foreign Subsidiary” shall mean each Subsidiary of a Loan Party that is not a Domestic
Subsidiary.



     “GAAP” means generally accepted accounting principles in the United States of America.



     “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.



     “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation;
provided, that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business.



     “Guarantor” means any Subsidiary that has signed a Guaranty Agreement in favor of the
Administrative Agent and the Lenders.



     “Guaranty Agreement” means, collectively, the Master Guaranty made by each Guarantor
and substantially in the form of Exhibit F and any other guaranty agreement in form, scope
and substance satisfactory to the Administrative Agent entered into by any Guarantor and delivered
pursuant to Section 4.1 or Section 5.9.



     “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,



8









 







infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.



     “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of
such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property acquired by such
Person, (e) all obligations of such Person in respect of the deferred purchase price of property or
services (excluding current accounts payable incurred in the ordinary course of business), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such
Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by
such Person of Indebtedness of others, (h) all Capitalized Lease Obligations of such Person, (i)
all obligations, contingent or otherwise, of such Person as an account party in respect of letters
of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of such Person
in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness
of any other entity (including any partnership in which such Person is a general partner) to the
extent such Person is liable therefor as a result of such Person’s ownership interest in or other
relationship with such entity, except to the extent the terms of such Indebtedness provide that
such Person is not liable therefor.



     “Indemnified Taxes” means Taxes other than Excluded Taxes.



     “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the
Borrower that is not guaranteed by any other Person or subject to any other credit enhancement.



     “Information Memorandum” means the Confidential Information Memorandum dated August 7,
2007 relating to the Borrower and the Transactions.



     “Interest Election Request” means a request by the Borrower to convert or continue a
Borrowing in accordance with Section 2.7.



     “Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each
March, June, September and December, and (b) with respect to any Eurodollar Loan, the last day of
the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day
prior to the last day of such Interest Period that occurs at intervals of three months’
duration after the first day of such Interest Period.



     “Interest Period” means with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect,
provided, that (i) if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a
Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month,
in which case such Interest Period shall end on the next preceding Business Day and (ii) any
Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the last
calendar month of such Interest Period) shall end on the last Business Day of the last calendar
month of



9









 







such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the
date on which such Borrowing is made and, in the case of a Revolving Credit Borrowing, thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing.



     “Issuing Bank” means JPMorgan Chase Bank, National Association in its capacity as the
issuer of Letters of Credit hereunder, and its successors in such capacity as provided in
Section 2.5(i). The Issuing Bank may, in its discretion, arrange for one or more Letters
of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank”
shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.



     “LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of
Credit.



     “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC
Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The
LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure
at such time.



     “Lenders” means, collectively, the Revolving Credit Lenders, the Term A Lenders and
the Multiple Advance Term Lenders.



     “Letter of Credit” means any letter of credit issued pursuant to this Agreement and
includes all Existing Letters of Credit.



     “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period,
the rate appearing on Page 3750 of the Dow Jones Market Service (or on any successor or substitute
page of such Service, or any successor to or substitute for such Service, providing rate quotations
comparable to those currently provided on such page of such Service, as determined by the
Administrative Agent from time to time for purposes of providing quotations of interest rates
applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London
time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar
deposits with a maturity comparable to such Interest Period. In the event that such rate is not
available at such time for any reason, then the “LIBO Rate” with respect to such Eurodollar
Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for
a maturity comparable to such Interest Period are offered by the principal
London office of the Administrative Agent in immediately available funds in the London
interbank market at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period.



     “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of
the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call
or similar right of a third party with respect to such securities.



     “Loan Documents” means this Agreement, each of the Notes, each Guaranty Agreement,
each Collateral Document and each other similar document executed in connection with the
Transactions hereunder.



     “Loan Party” means, collectively, (i) the Borrower, (ii) each Guarantor, (iii) each
Domestic Subsidiary for which all the outstanding Equity Interests of such Domestic Subsidiary have
been



10









 







pledged to the Administrative Agent pursuant to the Pledge Agreement and (iv) each first-tier
Foreign Subsidiary for which 66% of the issued and outstanding Equity Interests of such Foreign
Subsidiary have been pledged to the Administrative Agent pursuant to the Pledge Agreement.



     “Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement
in the form of a Revolving Loan, a Term A Loan or a Multiple Advance Term Loan.



     “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
property, operations, prospects or condition (financial or otherwise) of the Borrower and the
Subsidiaries taken as a whole, (b) the ability of the Borrower to perform any of its obligations
under this Agreement or any other Loan Documents, (c) the legality, validity, binding effect or
enforceability against the Borrower of any Loan Document to which it is a party, or (d) the rights
of or benefits available to the Lenders under this Agreement.



     “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), or obligations in respect of one or more Swap Agreements, of any one or more of the
Borrower and its Subsidiaries in an aggregate principal amount exceeding $1,000,000. For purposes
of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or
any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that the Borrower or such Subsidiary would be required to
pay if such Swap Agreement were terminated at such time.



     “Maturity Date” means September 21, 2012.



     “Measurement Period” means, at any date of determination, the period of four
consecutive fiscal quarters of the Borrower ending on such date, or if such date is not a fiscal
quarter end date, the period of four consecutive fiscal quarters most recently ended (in each case
treated as a single accounting period).



     “Moody’s” means Moody’s Investors Service, Inc.



     “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.



     “Multiple Advance Term Lender” means (a) at any time on or prior to the Effective
Date, any Lender that has a Multiple Advance Term Loan Commitment at such time and (b) at any time
after the Effective Date, any Lender that has a Multiple Advance Term Loan Commitment during the
Availability Period and/or that holds any Multiple Advance Term Loans at such time.



     “Multiple Advance Term Loan” means one or more advances made by any Multiple Advance
Term Lender under the Multiple Advance Term Loan Facility.



     “Multiple Advance Term Loan Borrowing” means a single borrowing consisting of
simultaneous Multiple Advance Term Loans of the same Type and, in the case of Eurodollar Rate
Loans, having the same Interest Period made by each of the Multiple Advance Term Lenders pursuant
to Section 2.1(c).



     “Multiple Advance Term Loan Commitment” means, as to each Multiple Advance Term
Lender, its obligation to make one or more Multiple Advance Term Loans to the Borrower pursuant to
Section 2.1(c) in an aggregate principal amount at any one time outstanding not to exceed
the amount set forth opposite such Multiple Advance Term Lender’s name on Schedule 2.1
under the caption “Multiple Advance Term Loan Commitment” or opposite such caption in the
Assignment and Assumption pursuant to which such Multiple Advance Term Lender



11









 







becomes a party
hereto, as applicable, as such amount may be adjusted from time to time in accordance with this
Agreement.



     “Multiple Advance Term Loan Facility” means, at any time, (a) at any time during the
Availability Period in respect of such Facility, the sum of (i) the aggregate amount of the
Multiple Advance Term Loan Commitments at such time and (ii) the aggregate principal amount of the
Multiple Advance Term Loans of all Multiple Advance Term Lenders outstanding at such time and (b)
thereafter, the aggregate principal amount of the Multiple Advance Term Loans of all Multiple
Advance Term Lenders outstanding at such time.



     “Multiple Advance Term Loan Note” means a promissory note made by the Borrower in
favor of a Multiple Advance Term Lender evidencing Multiple Advance Term Loans made by such
Multiple Advance Term Lender, substantially in the form of Exhibit C-3.



     “Notes” means, collectively, the Revolving Credit Notes, the Term A Notes and the
Multiple Advance Term Loan Notes.



     “Obligations” means (a) all advances to, and debts, liabilities, obligations,
covenants and duties of, any Loan Party arising under this Agreement or any other Loan Document or
otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those
acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter
arising and including interest and fees that accrue after the commencement by or against the any
Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such
Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed
claims in such proceeding and (b) all obligations under any Swap Contract between the Borrower and
any Lender or any Affiliate of any Lender to the extent permitted under Section 6.5.



     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with
respect to any partnership, joint venture, trust or other form of business entity, the partnership,
joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or organization of such
entity.



     “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies arising from any payment made hereunder
or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement.



     “Outstanding Amount” means (a) with respect to Term A Loans, Multiple Advance Term
Loans and Revolving Loans on any date, the aggregate outstanding principal amount thereof after
giving effect to any borrowings and prepayments or repayments of Term A Loans, Multiple Advance
Term Loans and Revolving Loans, as the case may be, occurring on such date; and (b) with respect to
any LC Exposure on any date, the amount of such LC Exposure on such date after giving effect to any
issuance, amendment, extension or renewal Letter of Credit occurring on such date and any other
changes in the aggregate amount of the LC Exposure as of such date, including as a result of any
reimbursements by the Borrower of any outstanding LC Exposure.



12









 





     “Participant” has the meaning set forth in Section 9.4.



     “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.



     “Permitted Acquisitions” means an investment in, a purchase of stock in, or a purchase
of all or a substantial part of the assets or properties of a Person, any exchange of securities
with any Person, any transaction, merger or consolidation of any Person, or any acquisition of any
line of business of any Person which satisfies each of the following conditions:




     (a) The acquisition is of a business permitted to be conducted by the Borrower pursuant
to Section 6.3(b) hereof; and




     (b) Prior to and after giving effect to the acquisition, no Default or Event of Default
will exist; and




     (c) At least five (5) Business Days prior to the consummation of the acquisition, the
Borrower shall have delivered to the Administrative Agent (a) projections satisfactory to
the Administrative Agent that demonstrate on a Pro Forma Basis that the Borrower shall be in
compliance with the financial covenants set forth in Section 6.9 for the Measurement
Period most recently completed prior to such Permitted Acquisition and for the remainder of
the term of this Agreement; and (b) a Financial Officer of the Borrower shall have delivered
a certificate to the Administrative Agent, together with supporting documentation, which is
reasonably satisfactory to the Administrative Agent reflecting compliance with the
foregoing; and




     (d) Such acquisition shall have been approved by a majority of the Board of Directors
(or the equivalent governing body) of the Person which is the subject of such acquisition
and such Person shall not have announced that it will oppose such acquisition or shall
not have commenced any action which alleges that such acquisition will violate applicable
law; and




     (e) At least five (5) Business Days prior to the consummation of the acquisition, the
Administrative Agent shall have received the term sheet or letter of intent for the proposed
transaction and the then current draft copies (if any) of the definitive agreement and
schedules for the acquisition, together with any other material documents or agreements in
connection therewith;




     (f) Prior to the consummation of the acquisition, the Administrative Agent shall have
received copies, certified by a Responsible Officer of the Borrower to be true, correct and
complete, of the definitive documentation for the acquisition, together with any amendments,
side letters, other documents and instruments executed and delivered in connection
therewith; and




     (g) At least three (3) Business Days prior to the consummation of the acquisition, the
Borrower shall have delivered to the Administrative Agent a certificate signed by a
Responsible Officer of the Borrower, together with supporting documentation, evidencing that
the Consolidated Total Leverage Ratio of the Borrower, calculated on a Pro Forma Basis,
shall be less than or equal to 2.50 to 1.00.



13









 





     “Permitted Encumbrances” means:




     (a) Liens imposed by law for taxes that are not yet due or are being contested in
compliance with Section 5.4;




     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations
that are not overdue by more than 30 days or are being contested in compliance with
Section 5.4;




     (c) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations;




     (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business;




     (e) judgment liens in respect of judgments that do not constitute an Event of Default
under clause (k) of Section 7.1; and




     (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do not secure any
monetary obligations and do not materially detract from the value of the affected property
or interfere with the ordinary conduct of business of the Borrower or any Subsidiary;


provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.




     “Permitted Investments” means, collectively, (a) investments consisting of Permitted
Acquisitions, and (b) the investments of the type identified in the table below under the caption
“Investment Type”, provided that, such investment (i) maintains, at all times, a minimum Moody’s
and S&P rating identified in the table below opposite such investment type under the caption
“Minimum Moody’s and/or S&P Rating”, (ii) matures within the time period identified in the table
below opposite such investment type under the caption “Maximum Maturity” from the date of
acquisition thereof, provided, that the Maximum Maturity of “Auction Rate Securities” and “Floating
Rate Securities” shall be based on the next auction or reset date identified in such securities,
(iii) comprises, as of the date on which a Person commits to acquire such investment, no more than
the percentages identified in the table below opposite such investment type under the caption
“Maximum Percentage of Outstanding Investments” (assuming the numerator used to determine
compliance with such limitations equals the aggregate principal amount of such investment to be
acquired, and the denominator used to determinate compliance equals the aggregate principal amount
of all outstanding investments then held by the Borrower and its Subsidiaries (including the
aggregate principal amount of the investment to be acquired), in each case, as of the date on which
a Person commits to acquire such investment), (iv) with respect to any single issuer, comprises, as
of the date on which a Person commits to acquire such investment, no more than the percentage of
the relevant



14









 







investment type identified in the table below opposite such investment under the
caption “Maximum Percentage of Outstanding Investment with a Single Investor” (assuming the
numerator used to determine compliance with such limitations equals the aggregate principal amount
of such investment to be acquired, and the denominator used to determine compliance equals the
aggregate principal amount of all outstanding investments then held by the Borrower and its
Subsidiaries and issued or offered by the same issuer as the investment to be acquired (including
the aggregate principal amount of the investment to be acquired), in each case, as of the date on
which a Person commits to acquire such investment), (v) for any investment type constituting
“United States Treasury”, “Agency Obligations” and “Repurchase Obligations”, such investments shall
be limited to direct obligations of, or obligations of, or obligations the principal of and
interest on which are unconditionally guaranteed by, the United States of America (or any agency
thereof to the extent such obligations are backed by the full faith and credit of the United States
of America), and fully collateralized repurchase agreements for such securities entered into with a
Qualifying Institution (as defined below), and (vi) for any investment type constituting
“Certificates of Deposit”, “Time Deposits”, “Banker’s Acceptances” and “Bank Notes”, such
investment shall be issued or offered by a Qualified Institution.



	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Maximum
	 	 	 	 	 	 	Maximum	 	Percentage of
	 	 	 	 	 	 	Percentage of	 	Outstanding
	 	 	Minimum Moody’s	 	Maximum	 	Outstanding	 	Investment with a
	Investment Type	 	and/or S&P Rating	 	Maturity	 	Investments	 	Single Issuer
	United States
Treasury, Agency
Obligations and
Repurchase
Obligations
	 	Aaa/AAA	 	2 years	 	 	100	%	 	Not Applicable
	Commercial Paper
	 	A1/P1	 	270 days	 	 	100	%	 	20%
	Certificates of
Deposit, Time
Deposits, Banker’s
Acceptances, Bank
Notes
	 	A1/P1	 	1 year	 	 	100	%	 	20%
	Auction Rate
Securities
	 	A/A	 	2 years	 	 	100	%	 	20%
	Corporate Bonds
	 	A/A	 	2 years	 	 	50	%	 	10%
	Corporate Bonds
	 	BBB/BBB	 	2 years	 	 	10	%	 	5%
	Taxable Municipal
Bonds
	 	A/A	 	2 years	 	 	50	%	 	20%
	Floating Rate
Securities
	 	A/A	 	2 years	 	 	50	%	 	20%
	Money Market Funds
	 	Aaa/AAA	 	Not Applicable	 	 	100	%	 	Not Applicable






15









 







          As used herein, “Qualified Institution” shall mean, the domestic office of any
commercial bank organized under the laws of the United States of America or any State thereof which
has a combined capital and surplus and undivided profits of not less than $500,000,000.



     “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.



     “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.



     “Pledge Agreement” means, collectively, the Master Securities Pledge Agreement made by
each Loan Party and substantially in the form of Exhibit G and any other securities pledge
agreement in form, scope and substance satisfactory to the Administrative Agent entered into by any
Loan Party and delivered pursuant to Section 4.1 or Section 5.9.



     “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan Chase Bank as its prime rate in effect at its office located at 270 Park Avenue, New
York, New York; each change in the Prime Rate shall be effective from and including the date such
change is publicly announced as being effective.



     “Pro Forma Basis” means, with respect to any Permitted Acquisition, the calculation of
Consolidated Total Leverage Ratio and Consolidated Interest Expense for the Measurement Period most
recently completed prior to such Permitted Acquisition, as if such Permitted Acquisition had
occurred immediately prior to the first day of such Measurement Period. For purposes of making
this pro forma calculation of Consolidated Total Leverage Ratio and Consolidated Interest Expense,
adjustments described in clauses (a), (b) and (c) below (all such
adjustments to be reasonably acceptable to the Administrative Agent) shall be included:




     (a) all Indebtedness (whether under this Agreement or otherwise), other liabilities and
any other balance sheet adjustments incurred, made or assumed in connection with a Permitted
Acquisition shall be deemed to have been incurred, made or assumed as of the first day of
the relevant Measurement Period, and all Indebtedness of the Person acquired or to be
acquired in such Permitted Acquisition or which is attributable to the business, business
division or Person acquired or to be acquired which was or will have been repaid in
connection with the consummation of the Permitted Acquisition shall be deemed to have been
repaid as of the first day of the relevant Measurement Period; and




     (b) other reasonable specified cost savings, expenses and other income statement or
operating statement adjustments which are attributable to the change in ownership resulting
from such acquisition as may be approved by the Administrative Agent, in its sole
discretion, in writing shall be deemed to have been realized on the first day of the
Measurement Period most recently ended; and



16









 






     (c) for purposes of calculating Consolidated Adjusted EBITDA for the relevant
Measurement Period, the financial results of the business, business division or Person, as
applicable, to be acquired shall be calculated and included as of the first day of the
relevant Measurement Period and by reference to the audited (if available) or management
certified (if audited results are not available) historical financial results of such
business, business division or Person, as applicable, to be so acquired.



     “Projections” has the meaning set forth in Section 5.1(g).



     “Public Lender” has the meaning set forth in Section 5.1.



     “Quarterly Payment Date” means the last day of each fiscal quarter of the Borrower, or
if any such day is not a Business Day, the next succeeding Business Day.



     “Register” has the meaning set forth in Section 9.4.



     “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.



     “Required Lenders” means, as of any date of determination, Lenders holding more than
50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in LC Exposure being deemed “held” by such
Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit
Commitments and Multiple Advance Term Loan Commitments (if any).



     “Required Revolving Credit Lenders” means, at any time, Revolving Credit Lenders
having Revolving Credit Exposures and unused Revolving Credit Commitments representing more than
50% of the sum of the Total Revolving Credit Exposures and unused Revolving Credit Commitments at
such time.



     “Responsible Officer” means the chief executive officer, president or a Financial
Officer of the Borrower or any other person authorized by the Board of Directors of the Borrower to
sign Loan Documents on its behalf. Any document delivered hereunder that is signed by a
Responsible Officer of the Borrower shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of the Borrower and such
Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower.



     “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in the Borrower or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or
other right to acquire any such Equity Interests in the Borrower.



     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving
Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period
made by each of the Revolving Credit Lenders pursuant to Section 2.1(a).



     “Revolving Credit Commitment” means, with respect to each Revolving Credit Lender, the
commitment of such Revolving Credit Lender to make Revolving Loans and to acquire participations in
Letters of Credit hereunder, expressed as an amount representing the maximum aggregate amount of
such Revolving Credit Lender’s Revolving Credit Exposure hereunder, as



17









 







such commitment may be (a)
reduced from time to time pursuant to Section 2.8 and (b) reduced or increased from time to
time pursuant to assignments by or to such Lender pursuant to Section 9.4. The initial
amount of each Revolving Credit Lender’s Commitment is set forth on Schedule 
2.1, or in the Assignment and Assumption pursuant to which such Revolving Credit
Lender shall have assumed its Revolving Credit Commitment, as applicable.



     “Revolving Credit Exposure” means, with respect to any Revolving Credit Lender at any
time, the sum of the outstanding principal amount of such Revolving Credit Lender’s Revolving Loans
and its LC Exposure at such time.



     “Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time.



     “Revolving Credit Increase Effective Date” has the meaning set forth in Section
2.4.



     “Revolving Credit Lenders” means the Persons listed on Schedule 2.1 and any
other Person that shall have become a revolving credit lender hereto pursuant to an Assignment and
Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment
and Assumption.



     “Revolving Credit Note” means a promissory note made by the Borrower in favor of a
Revolving Credit Lender evidencing Revolving Loans made by such Revolving Credit Lender,
substantially in the form of Exhibit C-1.



     “Revolving Loan” means a Loan made pursuant to Section 2.1(a).



     “S&P” means Standard & Poor’s.



     “Securities” shall have the meaning ascribed to such term in the Pledge Agreement.



     “Securities Collateral” shall have the meaning ascribed to such term in the Pledge
Agreement.



     “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject, with
respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency
Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed
pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding
and to be subject to such reserve requirements without benefit of or credit for proration,
exemptions or offsets that may be available from time to time to any Lender under such Regulation D
or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as
of the effective date of any change in any reserve percentage.



     “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
(a) of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as
of such date,



18









 







otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent
and one or more subsidiaries of the parent.



     “Subsidiary” means any subsidiary of the Borrower.



     “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a
Swap Agreement.



     “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.



     “Term A Borrowing” means a borrowing consisting of simultaneous Term A Loans of the
same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each
of the Term A Lenders pursuant to Section 2.1(b).



     “Term A Commitment” means, as to each Term A Lender, its obligation to make Term A
Loans to the Borrower pursuant to Section 2.1(b) in an aggregate principal amount at any
one time outstanding not to exceed the amount set forth opposite such Term A Lender’s name on
Schedule 2.1 under the caption “Term A Commitment” or opposite such caption in the
Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement.



     “Term A Facility” means, at any time, (a) prior to the Effective Date, the aggregate
amount of the Term A Commitments at such time and (b) thereafter, the aggregate principal amount of
the Term A Loans of all Term A Lenders outstanding at such time.



     “Term A Lender” means (a) at any time on or prior to the Effective Date, any Lender
that has a Term A Commitment at such time and (b) thereafter, any Lender that holds Term A Loans at
such time.



     “Term A Loan” means an advance made by any Term A Lender under the Term A Facility.



     “Term A Note” means a promissory note made by the Borrower in favor of a Term A Lender
evidencing Term A Loans made by such Term A Lender, substantially in the form of Exhibit
C-2.



     “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all LC
Exposure.



     “Transactions” means the execution, delivery and performance by the Borrower of this
Agreement and the other Loan Documents, the borrowing of Loans, the use of the proceeds thereof and
the issuance of Letters of Credit hereunder.



     “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate or the Alternate Base Rate.



19









 





     “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York,
provided that, if perfection or the effect of perfection or non-perfection or the priority
of any security interest in any Securities Collateral is governed by the Uniform Commercial Code as
in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform
Commercial Code as in effect from time to time in such other jurisdiction for purposes of the
provisions hereof relating to such perfection, effect of perfection or non-perfection or priority.



     “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.



          SECTION 1.2. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by
Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a
“Eurodollar Revolving Loan”). Borrowings also may be classified and referred to by Class
(e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar
Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”).



          SECTION 1.3. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.



          SECTION 1.4. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Administrative Agent
that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Borrower that the
Required Lenders request an amendment to any provision hereof for such purpose), regardless of
whether any such notice is given before or after such change in GAAP or in the application thereof,
then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately
before such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith.



20









 





ARTICLE II.

THE CREDITS




          SECTION 2.1. Loans.





     (a) Revolving Loans: Subject to the terms and conditions set forth herein,
each Revolving Credit Lender agrees to make Revolving Loans to the Borrower from time to
time during the Availability Period in an aggregate principal amount that will not result in
(i) such Revolving Credit Lender’s Revolving Credit Exposure exceeding such Revolving Credit
Lender’s Revolving Credit Commitment or (ii) the sum of the total Revolving Credit Exposures
exceeding the total Revolving Credit Commitments. Within the foregoing limits and subject
to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow
Revolving Loans.




     (b) Term A Loan. Subject to the terms and conditions set forth herein, each
Term A Lender severally agrees to make a single term loan to the Borrower on the Effective
Date in an amount not to exceed such Term A Lender’s Term A Commitment. The Borrowing shall
consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their
respective Term A Commitments. Amounts borrowed under this Section 2.1(b) and
repaid or prepaid may not be reborrowed.




     (c) Multiple Advance Term Loan. Subject to terms and conditions set forth
herein, each Lender having a Multiple Advance Term Loan Commitment severally agrees to make
one or more Multiple Advance Term Loans to the Borrower at any time during the Availability
Period, which Multiple Advance Term Loans (i) shall not exceed, for any such Multiple
Advance Term Lender, the Multiple Advance Term Loan Commitment of such Multiple Advance Term
Lender, (ii) shall not exceed, in the aggregate, the total Multiple Advance Term Loan
Commitments, and (iii) may be repaid or prepaid in accordance with the provisions hereof,
but once repaid or prepaid may not be reborrowed.



          SECTION 2.2. Loans and Borrowings. (a) Each Loan shall be made as part of a
Borrowing consisting of Revolving Loans, Term A Loans or Multiple Advance Term Loans, as
applicable, made by the Lenders ratably in accordance with their respective Commitments. The
failure of any Lender to make any Loan required to be made by it shall not relieve any other
Lender of its obligations hereunder; provided that the Commitments of the Lenders are
several and no Lender shall be responsible for any other Lender’s failure to make Loans as
required.




     (a) Subject to Section 2.13, each Borrowing shall be comprised entirely of ABR
Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender
at its option may make any Eurodollar Loan by causing any domestic or foreign branch or
Affiliate of such Lender to make such Loan; provided that any exercise of such
option shall not affect the obligation of the Borrower to repay such Loan in accordance with
the terms of this Agreement.




     (b) At the commencement of each Interest Period for any Eurodollar Borrowing, such
Borrowing shall be in an aggregate amount that is an integral multiple



21









 







of $100,000 and not
less than $200,000. At the time that each ABR Borrowing is made, such Borrowing shall be in
an aggregate amount that is an integral multiple of $100,000 and not less than $200,000;
provided that an ABR Borrowing may be in an aggregate amount that is equal to the
entire unused balance of the total applicable Commitments or that is required to finance the
reimbursement of an LC Disbursement as contemplated by Section 2.5(e). Borrowings
of more than one Type and Class may be outstanding at the same time; provided that
there shall not at any time be more than a total of 8 Eurodollar Borrowings outstanding.




     (c) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest
Period requested with respect thereto would end after the Maturity Date.



          SECTION 2.3. Requests for Borrowings. To request a Borrowing, the Borrower shall
notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar
Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of
the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York
City time, one Business Day before the date of the proposed Borrowing; provided that any
such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.5(e) may be given not later than 10:00 a.m., New York City time,
on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable
and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a
written Borrowing Request and in the form of Exhibit D or in a form approved by the
Administrative Agent and, in each case signed by a Responsible Officer of the Borrower. Each such
telephonic and written Borrowing Request shall specify the following information in compliance with
Section 2.2:




     (i) whether such Borrowing shall be comprised of Revolving Loans, Term A
Loans1 or Multiple Advance Term Loans;




     (ii) the aggregate amount of the requested Borrowing;




     (iii) the date of such Borrowing, which shall be a Business Day;




     (iv) whether such Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing;




     (v) in the case of a Eurodollar Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by the definition of the
term “Interest Period”; and




     (vi) the location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.6.





 




			
	1	 	Applicable only for Borrowings made
on the Effective Date.




22









 









If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an
ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar
Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the
Administrative Agent shall advise each Lender of the details thereof and of the amount of such
Lender’s Loan to be made as part of the requested Borrowing.




          SECTION 2.4. Increase in Revolving Credit Facility.





     (a) Request for Increase. Provided there exists no Default, upon notice to the
Administrative Agent (which shall promptly notify the Revolving Credit Lenders), the
Borrower may from time to time, request an increase in the Revolving Credit Facility by an
amount (for all such requests) not exceeding $25,000,000; provided that (i) any such
request for an increase shall be in a minimum amount of $5,000,000, and (ii) the Borrower
may make a maximum of three such requests. At the time of sending such notice, the Borrower
(in consultation with the Administrative Agent) shall specify the time period within which
each Revolving Credit Lender is requested to respond (which shall in no event be less than
ten Business Days from the date of delivery of such notice to the Revolving Credit Lenders).




     (b) Lender Elections to Increase. Each Revolving Credit Lender shall notify
the Administrative Agent within such time period whether or not it agrees to increase its
Revolving Credit Commitment and, if so, whether by an amount equal to, greater than, or less
than its Applicable Percentage of such requested increase. Any Revolving Credit Lender not
responding within such time period shall be deemed to have declined to increase its
Revolving Credit Commitment.




     (c) Notification by Administrative Agent; Additional Revolving Credit Lenders.
The Administrative Agent shall notify the Borrower and each Revolving Credit Lender of the
Revolving Credit Lenders’ responses to each request made hereunder. To achieve the full
amount of a requested increase, and subject to the approval of the Administrative Agent and
the Issuing Bank (which approvals shall not be unreasonably withheld), the Borrower may also
invite additional financial institutions acceptable to the Administrative Agent in its
reasonable discretion to become Revolving Credit Lenders
pursuant to a joinder agreement in form and substance satisfactory to the
Administrative Agent.




     (d) Effective Date and Allocations. If the Revolving Credit Facility is
increased in accordance with this Section, the Administrative Agent and the Borrower shall
determine the effective date (the “Revolving Credit Increase Effective Date”) and
the final allocation of such increase. The Administrative Agent shall promptly notify the
Borrower and the Revolving Credit Lenders of the final allocation of such increase and the
Revolving Credit Increase Effective Date.




     (e) Conditions to Effectiveness of Increase. As a condition precedent to such
increase, the Borrower shall deliver to the Administrative Agent a certificate of the
Borrower dated as of the Revolving Credit Increase Effective Date (in sufficient copies for
each Lender) signed by a Responsible Officer of the Borrower (i) certifying and



23









 







attaching
the resolutions adopted by the Borrower approving or consenting to such increase, and (ii)
certifying that, before and after giving effect to such increase, (A) the representations
and warranties contained in Article III and the other Loan Documents are true and
correct on and as of the Revolving Credit Increase Effective Date, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case
they are true and correct as of such earlier date, and except that for purposes of this
Section 2.4, the representations and warranties contained in Section 3.4
shall be deemed to refer to the most recent statements furnished pursuant to clauses
(a) and (b), respectively, of Section 5.1, and (B) no Default exists.
The Borrower shall prepay any Revolving Loans outstanding on the Revolving Credit Increase
Effective Date (and pay any additional amounts required pursuant to Section 2.15) to
the extent necessary to keep the outstanding Revolving Loans ratable with any revised
Applicable Percentage of Revolving Credit Commitments arising from any nonratable increase
in the Revolving Credit Commitments under this Section.




     (f) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.17 or Section 9.2 to the contrary.



          SECTION 2.5. Letters of Credit. (a) General. Subject to the terms and
conditions set forth herein, the Borrower may request the issuance of Letters of Credit for its own
account, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any
time and from time to time during the Availability Period. In the event of any inconsistency
between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by the Borrower to, or entered into by
the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of
this Agreement shall control. All Existing Letters of Credit shall be deemed to have been issued
pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms
and conditions hereof.





     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of
an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or
transmit by electronic communication, if arrangements for doing so have been approved by the
Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the
requested date of issuance, amendment, renewal or extension) a notice signed by a
Responsible Officer of the Borrower requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, renewed or extended, and specifying the date
of issuance, amendment, renewal or extension (which shall be a Business Day), the date on
which such Letter of Credit is to expire (which shall comply with paragraph (c) of
this Section), the amount of such Letter of Credit, the name and address of the beneficiary
thereof and such other information as shall be necessary to prepare, amend, renew or extend
such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a
letter of credit application on the Issuing Bank’s standard form in connection with any
request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or
extended only if (and upon issuance, amendment, renewal or extension of each Letter of
Credit the Borrower shall be deemed to represent and warrant that), after giving effect to
such issuance, amendment, renewal or extension (i) the LC



24









 







Exposure shall not exceed
$10,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the
total Revolving Credit Commitments.




     (c) Expiration Date. Each Letter of Credit shall expire at or prior to the
close of business on the earlier of (i) the date one year after the date of the issuance of
such Letter of Credit (or, in the case of any renewal or extension thereof, one year after
such renewal or extension) and (ii) the date that is five Business Days prior to the
Maturity Date.




     (d) Participations. By the issuance of a Letter of Credit (or an amendment to
a Letter of Credit increasing the amount thereof) and without any further action on the part
of the Issuing Bank or the Revolving Credit Lenders, the Issuing Bank hereby grants to each
Revolving Credit Lender, and each Revolving Credit Lender hereby acquires from the Issuing
Bank, a participation in such Letter of Credit equal to such Revolving Credit Lender’s
Applicable Percentage of the aggregate amount available to be drawn under such Letter of
Credit. In consideration and in furtherance of the foregoing, each Revolving Credit Lender
hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the
account of the Issuing Bank, such Revolving Credit Lender’s Applicable Percentage of each LC
Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due as
provided in paragraph (e) of this Section, or of any reimbursement payment required
to be refunded to the Borrower for any reason. Each Revolving Credit Lender acknowledges
and agrees that its obligation to acquire participations pursuant to this paragraph in
respect of Letters of Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or termination of the
Commitments, and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever.




     (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in
respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying
to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00
noon, New York City time, on the date that such LC Disbursement is made, if the Borrower
shall have received notice of such LC Disbursement prior to 10:00 a.m., New York City time,
on such date, or, if such notice has not been received by the Borrower prior to such time on
such date, then not later than 12:00 noon, New York City time, on (i) the Business Day that
the Borrower receives such notice, if such notice is received prior to 10:00 a.m., New York
City time, on the day of receipt, or (ii) the Business Day immediately following the day
that the Borrower receives such notice, if such notice is not received prior to such time on
the day of receipt; provided that ,if such LC Disbursement is not less than $
50,000, the Borrower may, subject to the conditions to borrowing set forth herein, request
in accordance with Section 2.3 that such payment be financed with an ABR Revolving
Borrowing in an equivalent amount and, to the extent so financed, the Borrower’s obligation
to make such payment shall be discharged and replaced by the resulting ABR Revolving
Borrowing. If the Borrower fails to make such payment when due, the Administrative Agent
shall notify each Revolving Credit Lender of the applicable LC Disbursement, the payment
then due from the Borrower in



25









 







respect thereof and such Revolving Credit Lender’s Applicable
Percentage thereof. Promptly following receipt of such notice, each Revolving Credit Lender
shall pay to the Administrative Agent its Applicable Percentage of the payment then due from
the Borrower, in the same manner as provided in Section 2.6 with respect to
Revolving Loans made by such Revolving Credit Lender (and Section 2.6 shall apply,
mutatis mutandis, to the payment obligations of the Revolving Credit
Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so
received by it from the Revolving Credit Lenders. Promptly following receipt by the
Administrative Agent of any payment from the Borrower pursuant to this paragraph, the
Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent
that Revolving Credit Lenders have made payments pursuant to this paragraph to reimburse the
Issuing Bank, then to such Revolving Credit Lenders and the Issuing Bank as their interests
may appear. Any payment made by a Revolving Credit Lender pursuant to this paragraph to
reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving
Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower
of its obligation to reimburse such LC Disbursement.




     (f) Obligations Absolute. The Borrower’s obligation to reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance with the terms
of this Agreement under any and all circumstances whatsoever and irrespective of (i) any
lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or
provision therein, (ii) any draft or other document presented under a Letter of Credit
proving to be forged, fraudulent or invalid in any respect or any statement therein being
untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of
Credit against presentation of a draft or other document that does not comply
with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the
provisions of this Section, constitute a legal or equitable discharge of, or provide a right
of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent,
the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability
or responsibility by reason of or in connection with the issuance or transfer of any Letter
of Credit or any payment or failure to make any payment thereunder (irrespective of any of
the circumstances referred to in the preceding sentence), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or other
communication under or relating to any Letter of Credit (including any document required to
make a drawing thereunder), any error in interpretation of technical terms or any
consequence arising from causes beyond the control of the Issuing Bank; provided
that the foregoing shall not be construed to excuse the Issuing Bank from liability to the
Borrower to the extent of any direct damages (as opposed to consequential damages, claims in
respect of which are hereby waived by the Borrower to the extent permitted by applicable
law) suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care
when determining whether drafts and other documents presented under a Letter of Credit
comply with the terms thereof. The parties hereto expressly agree that, in the absence of
gross negligence or wilful misconduct on the part of the Issuing Bank (as finally determined
by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised
care in each such determination. In furtherance of the



26









 







foregoing and without limiting the
generality thereof, the parties agree that, with respect to documents presented which appear
on their face to be in substantial compliance with the terms of a Letter of Credit, the
Issuing Bank may, in its sole discretion, either accept and make payment upon such documents
without responsibility for further investigation, regardless of any notice or information to
the contrary, or refuse to accept and make payment upon such documents if such documents are
not in strict compliance with the terms of such Letter of Credit.




     (g) Disbursement Procedures. The Issuing Bank shall, promptly following its
receipt thereof, examine all documents purporting to represent a demand for payment under a
Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the
Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the
Issuing Bank has made or will make an LC Disbursement thereunder; provided that any
failure to give or delay in giving such notice shall not relieve the Borrower of its
obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC
Disbursement.




     (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement,
then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that the Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving
Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when
due pursuant to paragraph (e) of this Section, then Section 2.12(d)
shall apply. Interest accrued pursuant to this paragraph shall be for the account of
the Issuing Bank, except that interest accrued on and after the date of payment by any
Revolving Credit Lender pursuant to paragraph (e) of this Section to reimburse the
Issuing Bank shall be for the account of such Lender to the extent of such payment.




     (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any
time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing
Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of
any such replacement of the Issuing Bank. At the time any such replacement shall become
effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced
Issuing Bank pursuant to Section 2.11(b). From and after the effective date of any
such replacement, (i) the successor Issuing Bank shall have all the rights and obligations
of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued
thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to
such successor or to any previous Issuing Bank, or to such successor and all previous
Issuing Banks, as the context shall require. After the replacement of an Issuing Bank
hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have
all the rights and obligations of an Issuing Bank under this Agreement with respect to
Letters of Credit issued by it prior to such replacement, but shall not be required to issue
additional Letters of Credit.




     (j) Cash Collateralization. If any Event of Default shall occur and be
continuing, on the Business Day that the Borrower receives notice from the




27









 






Administrative Agent or the Required Revolving Credit Lenders (or, if the maturity of
the Revolving Loans has been accelerated, Revolving Credit Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit of cash
collateral pursuant to this paragraph, the Borrower shall deposit in an account with the
Administrative Agent, in the name of the Administrative Agent and for the benefit of the
Revolving Credit Lenders, an amount in cash equal to the LC Exposure as of such date plus
any accrued and unpaid interest thereon; provided that the obligation to deposit
such cash collateral shall become effective immediately, and such deposit shall become
immediately due and payable, without demand or other notice of any kind, upon the occurrence
of any Event of Default with respect to the Borrower described in clause (h) or
clause (i) of Section 7.1. Such deposit shall be held by the Administrative
Agent as collateral for the payment and performance of the obligations of the Borrower under
this Agreement. The Administrative Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over such account. Other than any interest
earned on the investment of such deposits, which investments shall be made at the option and
sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such
deposits shall not bear interest. Interest or profits, if any, on such investments shall
accumulate in such account. Moneys in such account shall be applied by the Administrative
Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been
reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the LC Exposure at such time or, if the
maturity of the Revolving Loans has been accelerated (but subject to the consent of
Revolving Credit Lenders with LC Exposure representing greater than 50% of the total LC
Exposure), be applied to satisfy other obligations of the Borrower under this Agreement. If
the Borrower is required to provide an amount of cash collateral hereunder as a result of
the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid)
shall be returned to the Borrower within three Business Days after all Events of Default
have been cured or waived.



     SECTION 2.6. Funding of Borrowings. (a) Each Lender shall make each Loan to be made
by it hereunder on the proposed date thereof by wire transfer of immediately available funds by
12:00 noon, New York City time, to the account of the Administrative Agent most recently designated
by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans
available to the Borrower by promptly crediting the amounts so received, in like funds, to an
account of the Borrower maintained with the Administrative Agent in New York City and designated by
the Borrower in the applicable Borrowing Request; provided that ABR Revolving Loans made to
finance the reimbursement of an LC Disbursement as provided in Section 2.5(e) shall be
remitted by the Administrative Agent to the Issuing Bank.




     (b) Unless the Administrative Agent shall have received notice from a Lender prior to
the proposed date of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with
paragraph (a) of this Section and may, in reliance upon such assumption, make
available to the Borrower a corresponding amount. In such event, if a Lender has not in
fact made its share of the applicable Borrowing available to the Administrative Agent, then
the applicable Lender and the Borrower severally agree to pay to the



28









 







Administrative Agent forthwith on demand such corresponding amount with interest
thereon, for each day from and including the date such amount is made available to the
Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the
case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans.
If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in such Borrowing.



     SECTION 2.7. Interest Elections. (a) Each Borrowing initially shall be of the Type
specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall
have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower
may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the
case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this
Section. The Borrower may elect different options with respect to different portions of the
affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders
holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be
considered a separate Borrowing.




     (b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone by the time that a Borrowing Request
would be required under Section 2.3 if the Borrower were requesting a Borrowing of
the Type resulting from such election to be made on the effective date of such election.
Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed
promptly by hand delivery or telecopy to the Administrative Agent of a written Interest
Election Request in a form approved by the Administrative Agent and signed by a Responsible
Officer of the Borrower.




     (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.2:




     (i) the Borrowing to which such Interest Election Request applies and, if
different options are being elected with respect to different portions thereof, the
portions thereof to be allocated to each resulting Borrowing (in which case the
information to be specified pursuant to clauses (iii) and (iv) below
shall be specified for each resulting Borrowing);




     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;




     (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and




     (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period
to be applicable thereto after giving effect to such election, which shall be a
period contemplated by the definition of the term “Interest Period”.



29









 




If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.





     (d) Promptly following receipt of an Interest Election Request, the Administrative
Agent shall advise each Lender of the details thereof and of such Lender’s portion of each
resulting Borrowing.




     (e) If the Borrower fails to deliver a timely Interest Election Request with respect to
a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision
hereof, if an Event of Default has occurred and is continuing and the Administrative Agent,
at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event
of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a
Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to
an ABR Borrowing at the end of the Interest Period applicable thereto.



     SECTION 2.8. Termination and Reduction of Commitments. (a) Unless previously
terminated, the Commitments shall terminate on the Maturity Date.




     (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving
Credit Commitments or the Multiple Advance Term Loan Commitments; provided that (i)
each reduction of the Revolving Credit Commitments or the Multiple Advance Term Loan
Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less
than $5,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Credit
Commitments or the Multiple Advance Term Loan Commitments if, after giving effect to any
concurrent prepayment of the Revolving Loans or the Multiple Advance Term Loans, as
applicable, in accordance with Section 2.10, the sum of the Revolving Credit
Exposures would exceed the total Revolving Credit Commitments or the Outstanding Amount of
the Multiple Advance Term Loans would exceed the total Multiple Advance Term Loan
Commitments, as applicable.




     (c) The Borrower shall notify the Administrative Agent of any election to terminate or
reduce the Revolving Credit Commitments or the Multiple Advance Term Loan Commitments under
paragraph (b) of this Section at least three Business Days prior to the effective
date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise
the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this
Section shall be irrevocable and signed by a Responsible Officer of the Borrower;
provided that a notice of termination of all Revolving Credit Commitments and all
Multiple Advance Term Loan Commitments delivered by the Borrower may state that such notice
is conditioned upon the effectiveness of other credit facilities, in which case such notice
may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the
specified effective date) if such condition is not satisfied. Any termination or reduction
of the Revolving Credit Commitments and the Multiple Advance Term Loan Commitments shall be
permanent. Each reduction of the



30









 







Revolving Credit Commitments and the Multiple Advance Term Loan Commitments shall be
made ratably among the applicable Lenders in accordance with their respective Revolving
Credit Commitments and Multiple Advance Term Loan Commitments, as applicable.



     SECTION 2.9. Evidence of Debt.




     (a) Each Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan
made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.




     (b) The Administrative Agent shall maintain accounts in which it shall record (i) the
amount of each Loan made hereunder, the Class and Type thereof and the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to
become due and payable from the Borrower to each Lender hereunder and (iii) the amount of
any sum received by the Administrative Agent hereunder for the account of the Lenders and
each Lender’s share thereof.




     (c) The entries made in the accounts maintained pursuant to paragraph (a) or
paragraph (b) of this Section shall be prima facie evidence of the
existence and amounts of the obligations recorded therein; provided that the failure
of any Lender or the Administrative Agent to maintain such accounts or any error therein
shall not in any manner affect the obligation of the Borrower to repay the Loans in
accordance with the terms of this Agreement.




     (d) Any Lender may request that the applicable Loans made by it be evidenced by a Note,
as appropriate. In such event, the Borrower shall prepare, execute and deliver to such
Lender a Note payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns). Thereafter, the Loans evidenced by such Note and
interest thereon shall at all times (including after assignment pursuant to Section
9.4) be represented by one or more Notes in such form payable to the order of the payee
named therein (or, if such Note is a registered note, to such payee and its registered
assigns).



     SECTION 2.10. Prepayment and Repayments of Loans.




     (a) Voluntary Prepayments. (i)  The Borrower shall have the right at any time
and from time to time to prepay any Borrowing in whole or in part, subject to prior notice
in accordance with paragraph (a)(ii) of this Section.




     (ii) The Borrower shall notify the Administrative Agent by telephone (confirmed
by telecopy) of any prepayment hereunder (i) in the case of prepayment of a
Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business
Days before the date of prepayment or (ii) in the case of prepayment of an ABR
Borrowing, not later than 11:00 a.m., New York City time, one Business Day before
the date of prepayment. Each such notice shall be irrevocable, shall specify the
Facility to be repaid, the prepayment date and the



31









 







principal amount of each Borrowing or portion thereof to be prepaid and shall
be signed by a Responsible Officer of the Borrower; provided that, if a
notice of prepayment is given in connection with a conditional notice of termination
of the Commitments as contemplated by Section 2.8, then such notice of
prepayment may be revoked if such notice of termination is revoked in accordance
with Section 2.8. Promptly following receipt of any such notice relating to
a Borrowing, the Administrative Agent shall advise the Lenders of the contents
thereof. Each partial prepayment of any Borrowing shall be in an amount that would
be permitted in the case of an advance of a Borrowing of the same Type as provided
in Section 2.2. Each prepayment of a Borrowing shall be applied to the
applicable Loans included in the prepaid Borrowing, provided that any
prepayment of the Term A Loans and/or the Multiple Advance Term Loans shall be
applied to the principal repayment installments thereof in inverse order of
maturity, and each such prepayment shall be paid to the applicable Lenders in
accordance with their respective Applicable Percentages in respect of each of the
relevant Facilities. Prepayments shall be accompanied by accrued interest to the
extent required by Section 2.12 and any amounts payable under Section
2.15.




     (b) Mandatory Repayments.




     (i) The Borrower hereby unconditionally promises to pay and shall repay to the
Administrative Agent for the account of each Lender the then unpaid principal amount
of each Loan on the Maturity Date.




     (ii) Commencing with the Quarterly Payment Date occurring on December 31, 2007,
on each Quarterly Payment Date thereafter, the Borrower shall repay the outstanding
principal amount of the Term A Loans in an amount equal to $600,000.




     (iii) Commencing with the Quarterly Payment Date on December 31, 2007, on each
Quarterly Payment Date, the Borrower shall repay the outstanding principal amount of
the Multiple Advance Term Loans in an amount equal to 5.0% of each Multiple Advance
Term Loan Borrowing made hereunder.



     SECTION 2.11. Fees. (a) The Borrower agrees to pay to the Administrative Agent for
the account of each Revolving Credit Lender and each Multiple Advance Term Lender a commitment fee,
which shall accrue at the Commitment Fee Rate set forth in the definition of “Applicable Rate” on
the daily undrawn amount of the Revolving Credit Commitment and/or Multiple Advance Term Loan
Commitment, as applicable, of such Lender (whether used or unused) during the period from and
including Effective Date to but excluding the date on which such Commitment terminates. Accrued
commitment fees shall be payable in arrears on the last day of March, June, September and December
of each year and on the date on which the applicable Commitments terminate, commencing on the first
such date to occur after the date hereof. All commitment fees shall be computed on the basis of a
year of 360 days and shall be payable for the actual number of days elapsed (including the first
day but excluding the last day).



32









 






     (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each
Revolving Credit Lender a participation fee with respect to its participations in Letters of
Credit, which shall accrue at the Letter of Credit Applicable Rate set forth in the
definition of “Applicable Rate” on the average daily amount of such Revolving Credit
Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC
Disbursements) during the period from and including the Effective Date to but excluding the
later of the date on which such Lender’s Revolving Credit Commitment terminates and the date
on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting
fee, which shall accrue at the rate of 0.125% per annum on the average daily amount of the
LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the later of the
date of termination of the Revolving Credit Commitments and the date on which there ceases
to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the
issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. Participation fees and fronting fees accrued through and including the last day
of March, June, September and December of each year shall be payable on the third Business
Day following such last day, commencing on the first such date to occur after the Effective
Date; provided that all such fees shall be payable on the date on which the
Revolving Credit Commitments terminate and any such fees accruing after the date on which
the Revolving Credit Commitments terminate shall be payable on demand. Any other fees
payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after
demand. All participation fees and fronting fees shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first
day but excluding the last day).




     (c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees
payable in the amounts and at the times separately agreed upon between the Borrower and the
Administrative Agent.




     (d) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to
it) for distribution, in the case of commitment fees and participation fees, to the
applicable Lenders. Fees paid shall not be refundable under any circumstances.



     SECTION 2.12. Interest. (a) The Loans comprising each ABR Borrowing shall bear
interest at the Alternate Base Rate.




     (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted
LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.




     (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any
fee or other amount payable by the Borrower hereunder is not paid when due, whether at
stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest,
after as well as before judgment, at a rate per annum equal to (i) in the case of overdue
principal of any Loan, 2% plus the rate otherwise applicable to such Loan as



33









 







provided in the preceding paragraphs of this Section or (ii) in the case of any other
amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of
this Section.




     (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment
Date for such Loan and, in the case of Revolving Loans and Multiple Advance Term Loans, upon
termination of the Commitments therefor; provided that (i) interest accrued pursuant
to paragraph (c) of this Section shall be payable on demand, (ii) in the event of
any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan
prior to the end of the Availability Period), accrued interest on the principal amount
repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in
the event of any conversion of any Eurodollar Loan prior to the end of the current Interest
Period therefor, accrued interest on such Loan shall be payable on the effective date of
such conversion.




     (e) All interest hereunder shall be computed on the basis of a year of 360 days, except
that interest computed by reference to the Alternate Base Rate at times when the Alternate
Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days
(or 366 days in a leap year), and in each case shall be payable for the actual number of
days elapsed (including the first day but excluding the last day). The applicable Alternate
Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent,
and such determination shall be conclusive absent manifest error.



     SECTION 2.13. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurodollar Borrowing:




     (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the
Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or




     (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO
Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and
fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or
its Loan) included in such Borrowing for such Interest Period;


then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or
continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any
Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing
if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other
Type of Borrowings shall be permitted.




     SECTION 2.14. Increased Costs. (a) If any Change in Law shall:



34









 






     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit
extended by, any Lender (except any such reserve requirement reflected in the
Adjusted LIBO Rate) or the Issuing Bank; or




     (ii) impose on any Lender or the Issuing Bank or the London interbank market
any other condition affecting this Agreement or Eurodollar Loans made by such Lender
or any Letter of Credit or participation therein;


and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to
increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining
any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or
the Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will
pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as
will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs
incurred or reduction suffered.





     (b) If any Lender or the Issuing Bank determines that any Change in Law regarding
capital requirements has or would have the effect of reducing the rate of return on such
Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing
Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by
the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such
Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in
Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies
of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy),
then from time to time the Borrower will pay to such Lender or the Issuing Bank, as the case
may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank
or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered.




     (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as the case
may be, as specified in paragraph (a) or paragraph (b) of this Section shall
be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower
shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on
any such certificate within 10 days after receipt thereof.




     (d) Failure or delay on the part of any Lender or the Issuing Bank to demand
compensation pursuant to this Section shall not constitute a waiver of such Lender’s or the
Issuing Bank’s right to demand such compensation; provided that the Borrower shall
not be required to compensate a Lender or the Issuing Bank pursuant to this Section for any
increased costs or reductions incurred more than 270 days prior to the date that such Lender
or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving
rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s
intention to claim compensation therefor; provided further that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the
270-day



35









 







period referred to above shall be extended to include the period of retroactive effect
thereof.



     SECTION 2.15. Break Funding Payments. In the event of (a) the payment of any
principal of any Eurodollar Loan other than on the last day of an Interest Period applicable
thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan
other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow,
convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section 2.10(a) and
is revoked in accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the
last day of the Interest Period applicable thereto as a result of a request by the Borrower
pursuant to Section 2.18, then, in any such event, the Borrower shall compensate each
Lender for the loss, cost and expense attributable to such event. In the case of a Eurodollar
Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by
such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the
principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would
have been applicable to such Loan, for the period from the date of such event to the last day of
the then current Interest Period therefor (or, in the case of a failure to borrow, convert or
continue, for the period that would have been the Interest Period for such Loan), over (ii) the
amount of interest which would accrue on such principal amount for such period at the interest rate
which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits
of a comparable amount and period from other banks in the eurodollar market. A certificate of any
Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The
Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after
receipt thereof.



     SECTION 2.16. Taxes. (a) Any and all payments by or on account of any obligation of
the Borrower hereunder shall be made free and clear of and without deduction for any Indemnified
Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any
Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as
necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, Lender or Issuing Bank (as
the case may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law.




     (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.




     (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing
Bank, within 10 days after written demand therefor, for the full amount of any Indemnified
Taxes or Other Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as
the case may be, on or with respect to any payment by or on account of any obligation of the
Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) and any



36









 







penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to the Borrower by a Lender or the Issuing Bank, or by the
Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall
be conclusive absent manifest error.




     (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower to a Governmental Authority, the Borrower shall deliver to the Administrative Agent
the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.




     (e) Any Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which the Borrower is located, or any
treaty to which such jurisdiction is a party, with respect to payments under this Agreement
shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or
times prescribed by applicable law, such properly completed and executed documentation
prescribed by applicable law or reasonably requested by the Borrower as will permit such
payments to be made without withholding or at a reduced rate.




     (f) If the Administrative Agent or a Lender determines, in its sole discretion, that it
has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the
Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section 2.16, it shall pay over such refund to the Borrower (but only to the extent
of indemnity payments made, or additional amounts paid, by the Borrower under this
Section 2.16 with respect to the Taxes or Other Taxes giving rise to such refund),
net of all out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority with respect
to such refund); provided, that the Borrower, upon the request of the Administrative
Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent or such Lender in the event the Administrative Agent or such Lender is
required to repay such refund to such Governmental Authority. This Section shall not be
construed to require the Administrative Agent or any Lender to make available its tax
returns (or any other information relating to its taxes which it deems confidential) to the
Borrower or any other Person.



     SECTION 2.17. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The
Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section
2.14, Section 2.15 or Section 2.16, or otherwise) prior to 12:00 noon, New York
City time, on the date when due, in immediately available funds, without set-off or counterclaim.
Any amounts received after such time on any date may, in the discretion of the Administrative
Agent, be deemed to have been received on the next succeeding Business Day for purposes of
calculating



37









 







interest thereon. All such payments shall be made to the Administrative Agent at its offices
at 270 Park Avenue, New York, New York, except payments to be made directly to the Issuing Bank as
expressly provided herein and except that payments pursuant to Sections 2.14, 2.15,
2.16 and 9.3 shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments received by it for the account of any other
Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder
shall be due on a day that is not a Business Day, the date for payment shall be extended to the
next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon
shall be payable for the period of such extension. All payments hereunder shall be made in
dollars.




     (b) If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements,
interest and fees then due hereunder, such funds shall be applied (i) first, towards payment
of interest and fees then due hereunder, ratably to the Revolving Credit Facility, Term A
Facility and the Multiple Advance Term Loan Facility and each such payment shall be paid to
the Lenders in accordance with their respective Applicable Percentages in respect of each of
the relevant Facilities, (ii) second, towards payment of principal and unreimbursed LC
Disbursements then due hereunder ratably to the Revolving Credit Facility, Term A Facility
and the Multiple Advance Term Loan Facility and each such payment shall be paid to the
Lenders in accordance with their respective Applicable Percentages in respect of each of the
relevant Facilities.




     (c) If any Lender shall, by exercising any right of set-off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of its Loans or
participations in LC Disbursements resulting in such Lender receiving payment of a greater
proportion of the aggregate amount of its Loans and participations in LC Disbursements and
accrued interest thereon than the proportion received by any other Lender, then the Lender
receiving such greater proportion shall purchase (for cash at face value) participations in
the Loans and participations in LC Disbursements of other Lenders to the extent necessary so
that the benefit of all such payments shall be shared by the Lenders ratably in accordance
with the aggregate amount of principal of and accrued interest on their respective Loans and
participations in LC Disbursements; provided that (i) if any such participations are
purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest, and (ii) the provisions of this paragraph shall not be construed
to apply to any payment made by the Borrower pursuant to and in accordance with the express
terms of this Agreement or any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans or participations in LC
Disbursements to any assignee or participant, other than to the Borrower or any Subsidiary
or Affiliate thereof (as to which the provisions of this paragraph shall apply). The
Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against the Borrower rights of set-off and counterclaim with
respect to such participation as fully as if such Lender were a direct creditor of the
Borrower in the amount of such participation.



38









 






     (d) Unless the Administrative Agent shall have received notice from the Borrower prior
to the date on which any payment is due to the Administrative Agent for the account of the
Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the
Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or
the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has
not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may
be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender or Issuing Bank with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to
the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation.




     (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.5(d) or (e), Section 2.6(b), Section 2.17(d) or
Section 9.3(c), then the Administrative Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter received by
the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations
under such Sections until all such unsatisfied obligations are fully paid.



     SECTION 2.18. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.14, or if the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.16, then such Lender shall use reasonable efforts to designate a
different lending office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 2.14 or Section 2.16, as the case may be, in the future and (ii) would
not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and
expenses incurred by any Lender in connection with any such designation or assignment.




     (b) If any Lender requests compensation under Section 2.14, or if the Borrower
is required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.16, or if any Lender defaults in its
obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 9.4), all its interests, rights and obligations under this Agreement to an
assignee that shall assume such obligations (which assignee may be another Lender, if a
Lender accepts such assignment); provided that (i) the Borrower shall have received
the prior written consent of the Administrative Agent (and if a Commitment is being
assigned, the Issuing Bank), which consent shall not unreasonably be withheld, (ii) such
Lender shall have received payment of an amount equal to the outstanding principal of its
Loans and participations in LC Disbursements, accrued interest thereon, accrued fees and all
other amounts payable to it hereunder, from the



39









 







assignee (to the extent of such outstanding principal and accrued interest and fees) or
the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment
resulting from a claim for compensation under Section 2.14 or payments required to
be made pursuant to Section 2.16, such assignment will result in a reduction in such
compensation or payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to
apply.



ARTICLE III.

REPRESENTATIONS AND WARRANTIES



  The Borrower represents and warrants to the Lenders that:




     SECTION 3.1. Organization; Powers. Each Loan Party and each of its Subsidiaries is
duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as now conducted and,
except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business in, and is in good
standing in, every jurisdiction where such qualification is required.



     SECTION 3.2. Authorization; Enforceability. The Transactions are within the each Loan
Party’s corporate powers and have been duly authorized by all necessary corporate and, if required,
stockholder action. This Agreement and the other Loan Documents has been duly executed and
delivered by each Loan Party to which such Person is a party and constitutes a legal, valid and
binding obligation of such Loan Party, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law.



     SECTION 3.3. Governmental Approvals; No Conflicts. The Transactions (a) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except such as have been obtained or made and are in full force and effect,
(b) will not violate any applicable law or regulation or the Organization Documents of any Loan
Party or any of its Subsidiaries or any order of any Governmental Authority, (c) will not violate
or result in a default under any indenture, agreement or other instrument binding upon the any Loan
Party or any of its Subsidiaries or its assets, or give rise to a right thereunder to require any
payment to be made by any Loan Party or any of its Subsidiaries, and (d) will not result in the
creation or imposition of any Lien on any asset of any Loan Party or any of its Subsidiaries.



     SECTION 3.4. Financial Condition; No Material Adverse Change. (a) The Borrower has
heretofore furnished to the Lenders its consolidated balance sheet and statements of income,
stockholders equity and cash flows (i) as of and for the fiscal year ended June 30, 2006, reported
on by an Approved Auditor, and (ii) as of and for the fiscal quarter and the fiscal year ended June
30, 2007, certified by its chief financial officer. Such financial statements present fairly, in
all material respects, the financial position and results of operations and cash flows of the
Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with



40









 







GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the
statements referred to in clause (ii) above.



     (b) Since June 30, 2006, there has been no material adverse change in the business,
assets, operations, prospects or condition, financial or otherwise, of the Borrower and its
Subsidiaries, taken as a whole.



     SECTION 3.5. Properties; Liens. (a) Each Loan Party and each of its Subsidiaries has
good title to, or valid leasehold interests in, all its real and personal property material to its
business, except for minor defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes.




     (b) Each Loan Party and each of its Subsidiaries owns, or is licensed to use, all
trademarks, tradenames, copyrights, patents and other intellectual property material to its
business, and the use thereof by such Loan Party and its Subsidiaries does not infringe upon
the rights of any other Person, except for any such infringements that, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect.




     (c) The property of each of Loan Party and each of its Subsidiaries is subject to no
Liens, other than Permitted Encumbrances and Liens expressly permitted in Section
6.2 hereof.



     SECTION 3.6. Litigation and Environmental Matters. (a) There are no actions, suits or
proceedings by or before any arbitrator or Governmental Authority pending against or, to the
knowledge of the Borrower, threatened against or affecting any Loan Party or any of its
Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and
that, if adversely determined, could reasonably be expected, individually or in the aggregate, to
result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions.




     (b) Except with respect to any matters that, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect, neither any Loan Party
nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to
obtain, maintain or comply with any permit, license or other approval required under any
Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has
received notice of any claim with respect to any Environmental Liability or (iv) knows of
any basis for any Environmental Liability.



     SECTION 3.7. Compliance with Laws and Agreements. Each Loan Party and each of its
Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property and all indentures, agreements and other instruments binding upon
it or its property, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is
continuing.



     SECTION 3.8. Investment and Holding Company Status. Neither the Borrower nor any of
its Subsidiaries is (a) an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940 or (b)  is a “holding company,” or a “subsidiary company”



41









 







of a “holding company,” or an “affiliate” of a “holding company”, as such terms are defined in
the Public Utility Holding Company Act of 2005, and neither the Borrower or any of its Subsidiaries
is subject to regulation as a “public utility” under the Federal Power Act, as amended.



     SECTION 3.9. Taxes. Each of the Loan Parties and its Subsidiaries has timely filed or
caused to be filed all Tax returns and reports required to have been filed and has paid or caused
to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in
good faith by appropriate proceedings and for which such Loan Party or such Subsidiary, as
applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to
do so could not reasonably be expected to result in a Material Adverse Effect.



     SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability is reasonably
expected to occur, could reasonably be expected to result in a Material Adverse Effect. The
present value of all accumulated benefit obligations under each Plan (based on the assumptions used
for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the
most recent financial statements reflecting such amounts, exceed by more than $100,000 the fair
market value of the assets of such Plan, and the present value of all accumulated benefit
obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most recent financial
statements reflecting such amounts, exceed by more than $100,000 the fair market value of the
assets of all such underfunded Plans.



     SECTION 3.11. Subsidiaries. Schedule 3.11 (as such Schedule may be updated
from time to time in connection with Permitted Acquisitions or with the prior written consent of
the Administrative Agent) is a complete list of each of the Borrower’s Subsidiaries and such
Subsidiary’s jurisdiction of incorporation.



     SECTION 3.12. Federal Regulations. Neither the Borrower nor any of its Subsidiaries
is engaged or will engage in any activities, nor shall use any portion of the proceeds of the Loans
be used for any purpose, which in either case violate or are inconsistent with the provisions of
Regulations U and X of the Board of Governors of the Federal Reserve System as now and from time to
time hereafter in effect.



     SECTION 3.13. Specially Designated Nationals or Blocked Persons List. None of the
Borrower, the Subsidiaries or any Affiliates of the Borrower are named on the United States
Department of the Treasury’s Specially Designated Nationals or Blocked Persons list.



     SECTION 3.14. Collateral Documents. Each Collateral Document is effective to create
in favor of the Administrative Agent, for the benefit of the Lenders and the Administrative Agent,
a legal, valid and enforceable first priority security interest in the Securities Collateral and
proceeds thereof. In the case of the Securities described in the Pledge Agreement, when
certificates representing such Securities are delivered to the Administrative Agent, and in the
case of the other Securities Collateral described in the Pledge Agreement, when financing
statements and other filings specified therein in appropriate form are filed in the offices
specified therein, and in the case of the Securities Collateral generally, such other actions as
required by



42









 







applicable law have been taken, the Pledge Agreement shall constitute a fully perfected Lien
on, and first priority security interest in, all right, title and interest of the applicable Loan
Parties in such Securities Collateral and the proceeds thereof as security for the Obligations.



     SECTION 3.15. Disclosure. Each Loan Party has disclosed to the Lenders all
agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries
is subject, and all other matters known to it, that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect. Neither the Information Memorandum
nor any of the other reports, financial statements, certificates or other information furnished by
or on behalf of a Loan Party to the Administrative Agent or any Lender in connection with the
negotiation of this Agreement or delivered hereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information,
the Borrower represents only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time, and further provided that other forward looking
information is based upon reasonable and estimates made in good faith by the Borrower and which the
Borrower believed to be reasonable at the time of making.



ARTICLE IV.

CONDITIONS




     SECTION 4.1. Effective Date. The obligations of the Lenders to make Loans and of the
Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on
which each of the following conditions is satisfied (or waived in accordance with Section
9.2, or, unless the Administrative Agent in its sole discretion determines that the
satisfaction of one or more of the following conditions precedent may be satisfied on a
post-closing basis pursuant to a Post-Closing Agreement entered into by the Borrower and the
Administrative Agent in form, scope and substance satisfactory to the Administrative Agent):




     (a) The Administrative Agent (or its counsel) shall have received from each party
hereto either (i) an original counterpart of this Agreement signed on behalf of such party
or (ii) written evidence satisfactory to the Administrative Agent (which may include
telecopy transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement.




     (b) The Administrative Agent (or its counsel) shall have received either (i) an
original counterpart of the Guaranty signed on behalf of each of the Guarantors or (ii)
written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of the Guaranty) that such party has signed a
counterpart of the Guaranty.




     (c) The Administrative Agent (or its counsel) shall have received either (i) an
original counterpart of the Pledge Agreement signed on behalf of the parties designated by
the Borrower and those Subsidiaries for which Equity Interests are being pledged or (ii)
written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of the Pledge Agreement) that such



43









 







party has signed a counterpart of the Pledge Agreement. The Administrative Agent shall
have received all certificates representing such Equity Interests pledged under the Pledge
Agreement, accompanied by instruments of transfer and undated stock powers endorsed in
blank, each in form and substance satisfactory to the Administrative Agent; and the Borrower
shall have taken all steps necessary under applicable law to perfect the Lien of the
Administrative Agent in such Equity Interests.




     (d) The Administrative Agent shall have received the results of a search of the UCC
filings (or equivalent filings), in addition to tax Lien, judgment Lien, bankruptcy and
litigation searches made with respect to each Loan Party, together with copies of the
financing statements and other filings (or similar documents) disclosed by such searches,
and accompanied by evidence satisfactory to the Administrative Agent that the Liens
indicated in any such financing statement and other filings (or similar document) are
Permitted Encumbrances or have been released or will be released substantially
simultaneously with the initial Borrowing hereunder.




     (e) The Administrative Agent shall have received evidence, in form and substance
satisfactory to the Administrative Agent, that appropriate UCC (or equivalent) financing
statements have been duly filed in such office or offices as may be necessary or, in the
opinion of Administrative Agent, desirable, to perfect the Administrative Agent’s Liens in
and to the Securities Collateral and certified searches reflecting the filing of all such
financing statements.




     (f) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Harris
Beach PLLC, counsel for the Borrower, substantially in the form of Exhibit B, and
covering such other matters relating to the Borrower, this Agreement or the Transactions as
the Required Lenders shall reasonably request; and (ii) local counsel to the Borrower, in
form, scope and substance satisfactory to the Administrative Agent, and covering such other
matters relating to the Borrower and the other Loan Parties, this Agreement or the
Transactions as the Required Lenders shall reasonably request. The Borrower hereby requests
such counsel to deliver such opinion.




     (g) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the Loan Parties, the authorization of the Transactions and
any other legal matters relating to the Loan Parties, this Agreement or the Transactions,
all in form and substance satisfactory to the Administrative Agent and its counsel.




     (h) The Administrative Agent shall have received a certificate, dated the Effective
Date and signed by the President, a Vice President or a Financial Officer of the Borrower,
confirming compliance with the conditions set forth in paragraphs (a) and
(b) of Section 4.2.




     (i) The Administrative Agent and the Lead Arranger shall have received all fees and
other amounts due and payable on or prior to the Effective Date, including, to



44









 







the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to
be reimbursed or paid by the Borrower hereunder.




     (j) The Administrative Agent shall have received evidence that all governmental and
third party approvals necessary or, in the discretion of the Administrative Agent, advisable
in connection with the Transaction and the continuing operations of the Borrower and its
Subsidiaries shall have been obtained and be in full force and effect.




     (k) The Administrative Agent shall have received (i) satisfactory audited consolidated
financial statements of the Borrower for the two most recent fiscal years ended prior to the
Effective Date as to which such financial statements are available and (ii) satisfactory
unaudited interim consolidated financial statements of the Borrower for each quarterly
period ended subsequent to the date of the latest financial statements delivered pursuant to
clause (i) of this paragraph as to which such financial statements are available.




     (l) The Administrative Agent shall have received evidence satisfactory to the
Administrative Agent that the Existing Credit Agreement has been, or concurrently with
Effective Date is being, terminated and all Liens securing obligations under the Existing
Credit Agreement, if any, have been, or concurrently with the Effective Date are being,
released and terminated.




     (m) Since June 30, 2006, there shall not have occurred any Material Adverse Effect.




     (n) The Administrative Agent and the Lenders shall have received (i) all documentation
and other information reasonably requested by the Lenders or the Administrative Agent under
applicable “know your customer” and anti-money laundering rules and regulations, including
the USA Patriot Act and (ii) such other documents and instruments as are customary for
transactions of this type or as they may reasonably request.


The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such
notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become
effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section
9.2) at or prior to 3:00 p.m., New York City time, on September 30, 2007 (and, in the event
such conditions are not so satisfied or waived, the Commitments shall terminate at such time).




     SECTION 4.2. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of
Credit, is subject to the satisfaction of the following conditions:




     (a) The representations and warranties of the Borrower set forth in this Agreement
shall be true and correct on and as of the date of such Borrowing or the date of issuance,
amendment, renewal or extension of such Letter of Credit, as applicable.



45









 






     (b) At the time of and immediately after giving effect to such Borrowing or the
issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no
Default or Event of Default shall have occurred and be continuing or would result from such
Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit.


Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be
deemed to constitute a representation and warranty by the Borrower on the date thereof as to the
matters specified in paragraphs (a) and (b) of this Section.




ARTICLE V.

AFFIRMATIVE COVENANTS



  Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in cash in full and all Letters of
Credit shall have expired or terminated and all LC Disbursements shall have been reimbursed, the
Borrower covenants and agrees with the Lenders that:




     SECTION 5.1. Financial Statements; Ratings Change and Other Information. The Borrower
will furnish to the Administrative Agent and each Lender:




     (a) within 90 days after the end of each fiscal year of the Borrower, its audited
consolidated balance sheet and related statements of operations, stockholders’ equity and
cash flows as of the end of and for such year, setting forth in each case in comparative
form the figures for the previous fiscal year, all reported on by an Approved Auditor
(without a “going concern” or like qualification or exception and without any qualification
or exception as to the scope of such audit) to the effect that such consolidated financial
statements present fairly in all material respects the financial condition and results of
operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied;




     (b) within 45 days after the end of each of the first three fiscal quarters of each
fiscal year of the Borrower, its consolidated balance sheet and related statements of
operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter
and the then elapsed portion of the fiscal year, setting forth in each case in comparative
form the figures for the corresponding period or periods of (or, in the case of the balance
sheet, as of the end of) the previous fiscal year, all certified by one of its Financial
Officers as presenting fairly in all material respects the financial condition and results
of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied, subject to normal year-end audit adjustments and
the absence of footnotes;




     (c) concurrently with any delivery of financial statements under clause (a) or
clause (b) above, a Compliance Certificate in the form of Exhibit E of a
Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and,
if a Default has occurred, specifying the details thereof and any action taken or proposed
to be taken with respect thereto, (ii) setting forth reasonably detailed calculations
demonstrating compliance with Section 6.9 and (iii) stating whether any change in
GAAP or in the



46









 







application thereof has occurred since the date of the audited financial statements
referred to in Section 3.4 that could potentially impact the Borrower and, if any
such change has occurred, specifying the effect of such change on the financial statements
accompanying such certificate;




     (d) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by the Borrower or any Subsidiary with
the Securities and Exchange Commission, or any Governmental Authority succeeding to any or
all of the functions of said Commission, or with any national securities exchange, or
distributed by the Borrower to its shareholders generally, as the case may be;




     (e) promptly after Moody’s or S&P shall have announced a change in the rating
established or deemed to have been established for the Index Debt, written notice of such
rating change;




     (f) promptly following any request therefor, such other information regarding the
operations, business affairs and financial condition of the Borrower or any Subsidiary, or
compliance with the terms of this Agreement, as the Administrative Agent or any Lender may
reasonably request;




     (g) promptly, but in any event, within 30 days after the commencement of each fiscal
year of the Borrower, a detailed consolidated budget by month for such fiscal year
(including a projected consolidated balance sheet and related statements of projected
operations and cash flow as of the end of and for such fiscal year) approved by the
Borrower’s board of directors (the “Projections”); and




     (h) promptly, but in any event within five (5) Business Days of any payment of an
Earn-Out Obligation, deliver to the Administrative Agent an officer’s certificate, signed by
a Responsible Officer of the Borrower, setting forth reasonably detailed calculations of the
Earn-Out Obligation paid or to be paid and attaching a copy of the applicable definitive
documentation setting forth the calculation for such Earn-Out Obligation.




     The Borrower hereby acknowledges that (a) the Administrative Agent will make available
to the Lenders and the Issuing Bank materials and/or information provided by or on behalf of
the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower
Materials on IntraLinks or another similar electronic system (the “Platform”) and (b)
certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish
to receive material non-public information with respect to the Borrower or its Affiliates,
or the respective securities of any of the foregoing, and who may be engaged in investment
and other market-related activities with respect to such Persons’ securities. The Borrower
hereby agrees that it will use commercially reasonable efforts to identify that portion of
the Borrower Materials that may be distributed to the Public Lenders and that (w) all such
Borrower Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by
marking Borrower Materials



47









 







“PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the
Issuing Bank and the Lenders to treat such Borrower Materials as not containing any material
non-public information (although it may be sensitive and proprietary) with respect to the
Borrower or its securities for purposes of United States Federal and state securities laws
(provided, however, that to the extent such Borrower Materials constitute Information, they
shall be treated as set forth in Section 9.12); (y) all Borrower Materials marked
“PUBLIC” are permitted to be made available through a portion of the Platform designated
“Public Investor;” and (z) the Administrative Agent shall be entitled to treat any Borrower
Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of
the Platform not designated “Public Investor.”



     SECTION 5.2. Notices of Material Events. The Borrower will furnish to the
Administrative Agent and each Lender prompt written notice of the following:




     (a) the occurrence of any Default;




     (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Borrower or any Affiliate
thereof that, if adversely determined, could reasonably be expected to result in a Material
Adverse Effect;




     (c) the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in liability of the
Borrower and its Subsidiaries in an aggregate amount exceeding $100,000; and




     (d) any other development that results in, or could reasonably be expected to result
in, a Material Adverse Effect.


Each notice delivered under this Section shall be accompanied by a statement of a Responsible
Officer of the Borrower setting forth the details of the event or development requiring such notice
and any action taken or proposed to be taken with respect thereto.




     SECTION 5.3. Existence; Conduct of Business. The Borrower will, and will cause each
of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in
full force and effect its legal existence and the rights, licenses, permits, privileges and
franchises material to the conduct of its business; provided that the foregoing shall not
prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.3.



     SECTION 5.4. Payment of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in
a Material Adverse Effect before the same shall become delinquent or in default, except where (a)
the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the
Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in
accordance with GAAP and (c) the failure to make payment pending such contest could not reasonably
be expected to result in a Material Adverse Effect.



     SECTION 5.5. Maintenance of Properties; Insurance. The Borrower will, and will cause
each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its



48









 







business in good working order and condition, ordinary wear and tear excepted, and
(b) maintain, with financially sound and reputable insurance companies, insurance in such amounts
and against such risks as are customarily maintained by companies engaged in the same or similar
businesses operating in the same or similar locations.



     SECTION 5.6. Books and Records; Inspection Rights. The Borrower will, and will cause
each of its Subsidiaries to, keep proper books of record and account in which full, true and
correct entries in all material respects are made of all dealings and transactions in relation to
its business and activities. The Borrower will, and will cause each of its Subsidiaries to, permit
any representatives designated by the Administrative Agent or any Lender, upon reasonable prior
notice, to visit and inspect its properties, to examine and make extracts from its books and
records, and to discuss its affairs, finances and condition with its officers and independent
accountants, all at such reasonable times and as often as reasonably requested and, so long as no
Default or Event of Default is then continuing, upon reasonable notice to the Borrower.



     SECTION 5.7. Compliance with Laws. The Borrower will, and will cause each of its
Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect.



     SECTION 5.8. Use of Proceeds and Letters of Credit. The proceeds of the Revolving
Loans and the Multiple Advance Term Loans will be used only for general corporate purposes,
including Permitted Acquisitions and share repurchases permitted pursuant in the terms hereof. The
proceeds of the Term A Loan will be used on the Effective Date to refinance the Existing Credit
Agreement. No part of the proceeds of any Loan will be used, whether directly or indirectly, for
any purpose that entails a violation of any of the Regulations of the Board, including
Regulations T, U and X. Letters of Credit will be issued for general corporate purposes.



     SECTION 5.9. Additional Guarantors; Additional Loan Parties.




     (a) The Borrower may, at its election and from time to time, designate one or more
Subsidiaries to be a Guarantor hereunder by providing at least thirty days prior written
notice to the Administrative Agent of such designation. Promptly, but in any event within
thirty days thereof, the Borrower shall, and shall cause such designated Subsidiary, to
become a Guarantor by (i) executing and delivering to the Administrative Agent a Guaranty
Agreement or such other document as Administrative Agent shall deem appropriate for such
purpose, (ii) delivering to the Administrative Agent documents of the types referred to in
Section 4.1(d), Section 4.1(f) and Section 4.1(g), and any other
documents and instruments requested by the Administrative Agent, including favorable
opinions of counsel to the Borrower and such designated Subsidiary (which shall cover, among
other things, the legality, validity, binding effect and enforceability of the documentation
referred to in clause (i) and clause (ii)), all in form, content and scope
reasonably satisfactory to the Administrative Agent, and (iii) taking all such other actions
as the Administrative Agent may consider necessary or desirable to give full effect to the
Guaranty and to perfect and preserve the rights and powers of the Administrative Agent and
the Lenders thereunder.



49









 






     (b) In addition, the Borrower may, at its election and from time to time, designate one
or more Subsidiaries to be a Loan Party by providing at least thirty days prior written
notice to the Administrative Agent of such designation. Promptly, but in any event within
thirty days thereof, the Borrower shall, and shall cause the applicable Subsidiaries to (i)
execute and deliver to the Administrative Agent a Pledge Agreement or such other document as
the Administrative Agent shall deem appropriate for such purpose, (ii) deliver to the
Administrative Agent certificates representing the Equity Interests pledged to the
Administrative Agent and the Lenders pursuant to the Pledge Agreement, accompanied by
instruments of transfer and undated stock powers endorsed in blank, for certificated Equity
Interests, (iii) delivering to the Administrative Agent documents of the types referred to
in Section 4.1(d) through and including Section 4.1(g), and any other
documents and instruments requested by the Administrative Agent, including favorable
opinions of counsel to the Borrower and such designated Subsidiary (which shall cover, among
other things, the legality, validity, binding effect and enforceability of the documentation
referred to in clause (i) and clause (ii)), all in form, content and scope
reasonably satisfactory to the Administrative Agent, (iv) taking such additional actions as
the Administrative Agent may consider necessary or desirable under applicable law to perfect
the Lien of the Administrative Agent in such Equity Interests, and (v) taking all such other
actions as the Administrative Agent may consider necessary or desirable to give full effect
to the Pledge Agreement and to perfect and preserve the rights and powers of the
Administrative Agent and the Lenders thereunder.



     SECTION 5.10. Pledges of Additional Equity Interests. Subject to any applicable
limitations set forth in each Pledge Agreement, with respect to each Loan Party added pursuant to
paragraph (b) of Section 5.9, the Loan Parties will pledge or cause to be pledged
to the Administrative Agent, for the benefit of the Lenders, all the outstanding Equity Interests
of each Domestic Subsidiary and 66% of the issued and outstanding Equity Interests of each first
tier Foreign Subsidiary. For the avoidance of doubt, no Foreign Subsidiary shall be required to
pledge any Equity Interests any of its direct or indirect Foreign Subsidiaries.



ARTICLE VI.

NEGATIVE COVENANTS



  Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder have been paid in cash in full and all Letters of Credit have
expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants
and agrees with the Lenders that:




     SECTION 6.1. Indebtedness. The Borrower will not, and will not permit any Subsidiary
to, create, incur, assume or permit to exist any Indebtedness, except:




     (a) Indebtedness created hereunder;




     (b) Indebtedness existing on the date hereof and set forth in Schedule 6.1 and
extensions, renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof;



50









 






     (c) Indebtedness of (i) a Loan Party owed to another Loan Party, (ii) a Subsidiary not
a Loan Party hereunder owed to a Loan Party in an amount not to exceed $2,000,000 in the
aggregate for all such non-Loan Party Subsidiaries and (iii) a Loan Party owed to a
Subsidiary not a Loan Party hereunder;




     (d) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary
of Indebtedness of the Borrower or any other Subsidiary;




     (e) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capitalized Lease
Obligations and any Indebtedness assumed in connection with the acquisition of any such
assets or secured by a Lien on any such assets prior to the acquisition thereof, and
extensions, renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof; provided that (i) such Indebtedness is
incurred prior to or within 90 days after such acquisition or the completion of such
construction or improvement and (ii) the aggregate principal amount of Indebtedness
permitted by this clause (e) shall not exceed $2,000,000 at any time outstanding;




     (f) Indebtedness of any Person that becomes a Subsidiary after the date hereof;
provided that (i) such Indebtedness exists at the time such Person becomes a
Subsidiary and is not created in contemplation of or in connection with such Person becoming
a Subsidiary and (ii) the aggregate principal amount of Indebtedness permitted by this
clause (f) shall not exceed $1,000,000 at any time outstanding; and




     (g) other unsecured Indebtedness in an aggregate principal amount not exceeding
$1,000,000 at any time outstanding.



     SECTION 6.2. Liens. The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:




     (a) Permitted Encumbrances;




     (b) any Lien on any property or asset of the Borrower or any Subsidiary existing on the
date hereof and set forth in Schedule 6.2; provided that (i) such Lien shall
not apply to any other property or asset of the Borrower or any Subsidiary and (ii) such
Lien shall secure only those obligations which it secures on the date hereof and extensions,
renewals and replacements thereof that do not increase the outstanding principal amount
thereof;




     (c) any Lien existing on any property or asset prior to the acquisition thereof by the
Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a
Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection with
such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien
shall not apply to any other property or assets of the Borrower or any Subsidiary and



51









 







(iii) such Lien shall secure only those obligations which it secures on the date of
such acquisition or the date such Person becomes a Subsidiary, as the case may be and
extensions, renewals and replacements thereof that do not increase the outstanding principal
amount thereof;




     (d) Liens on fixed or capital assets acquired, constructed or improved by the Borrower
or any Subsidiary; provided that (i) such security interests secure Indebtedness
permitted by clause (e) of Section 6.1, (ii) such security interests and the
Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition
or the completion of such construction or improvement, (iii) the Indebtedness secured
thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed
or capital assets and (iv) such security interests shall not apply to any other property or
assets of the Borrower or any Subsidiary; and




     (e) Liens created pursuant to any Loan Document in favor of the Administrative Agent,
for the benefit of the Lenders and the Administrative Agent.



     SECTION 6.3. Fundamental Changes; Line of Business. (a) The Borrower will not, and
will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit any
other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of
(in one transaction or in a series of transactions) all or any substantial part of its assets, or
all or substantially all of the stock of any of its Subsidiaries (in each case, whether now owned
or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and
immediately after giving effect thereto no Default shall have occurred and be continuing (i) any
Subsidiary may merge into the Borrower in a transaction in which the Borrower is the surviving
corporation, (ii) any Subsidiary may merge into any Subsidiary in a transaction in which the
surviving entity is a Subsidiary, (iii) any Subsidiary may sell, transfer, lease or otherwise
dispose of its assets to the Borrower or to another Subsidiary and (iv) any Subsidiary may
liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution
is in the best interests of the Borrower and is not materially disadvantageous to the Lenders;
provided that any such merger involving a Person that is not a wholly owned Subsidiary
immediately prior to such merger shall not be permitted unless also permitted by
Section 6.4.




     (b) The Borrower will not, and will not permit any of its Subsidiaries to, engage to
any material extent in any business other than businesses of the type conducted by the
Borrower and its Subsidiaries on the date of execution of this Agreement and businesses
reasonably related thereto.



     SECTION 6.4. Investments, Loans, Advances, Guarantees and Acquisitions. The Borrower
will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including
pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger)
any capital stock, evidences of indebtedness or other securities (including any option, warrant or
other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to,
Guarantee any obligations of, or make or permit to exist any investment or any other interest in,
any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions)
any assets of any other Person constituting a business unit, except:



52









 






     (a) Permitted Investments;




     (b) Investments by the Borrower in the capital stock of (i) any Guarantor and (ii) any
Subsidiary that is not a Guarantor to the extent permitted under Section 6.1(c)(ii);




     (c) Investments in Indebtedness permitted under Section 6.1(c); and




     (d) Guarantees constituting Indebtedness permitted by Section 6.1.



     SECTION 6.5. Swap Agreements. The Borrower will not, and will not permit any of its
Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or
mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in
respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements
entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating
rates, from one floating rate to another floating rate or otherwise) with respect to any
interest-bearing liability or investment of the Borrower or any Subsidiary.



     SECTION 6.6. Restricted Payments. The Borrower will not, and will not permit any of
its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any
Restricted Payment, except (a) the Borrower may declare and pay dividends with respect to its
Equity Interests payable solely in additional shares of its common stock, (b) Subsidiaries may
declare and pay dividends ratably with respect to their Equity Interests, (c) so long as no Default
or Event of Default shall then be continuing or would result therefrom, the Borrower may make
Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans
for management or employees of the Borrower and its Subsidiaries (i) in existence as of the
Effective Date and (ii) adopted by the Borrower and approved by its stockholders at the annual
meeting of the Borrower on October 30, 2007, and, (d) so long as no Default or Event of Default
shall then be continuing or would result therefrom, the Borrower may make cash Restricted Payments
through and including December 31, 2008 to purchase, redeem or otherwise acquire Equity Interests
issued by it, provided, that after giving effect thereto (i) such cash Restricted Payments
made from July 1, 2007 through and including December 31, 2007 shall not exceed $25,000,000 in the
aggregate, and (ii) such cash Restricted Payments made from January 1, 2008 through and including
December 31, 2008 shall not exceed $15,000,000 in the aggregate.



     SECTION 6.7. Transactions with Affiliates. The Borrower will not, and will not permit
any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or
purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except (a) in the ordinary course of business at prices
and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be
obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among
the Borrower and its wholly-owned Subsidiaries not involving any other Affiliate and (c) any
Restricted Payment permitted by Section 6.6.



     SECTION 6.8. Restrictive Agreements. The Borrower will not, and will not permit any
of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement
or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the
Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property



53









 







or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with
respect to any shares of its capital stock or to make or repay loans or advances to the Borrower or
any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary;
provided that (i) the foregoing shall not apply to restrictions and conditions imposed by
law or by this Agreement, (ii) the foregoing shall not apply to customary restrictions and
conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided
such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is
permitted hereunder, (iii) clause (a) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if
such restrictions or conditions apply only to the property or assets securing such Indebtedness and
(iv) clause (a) of the foregoing shall not apply to customary provisions in leases and
other contracts restricting the assignment thereof.



     SECTION 6.9. Financial Covenants.




     (a) Consolidated Total Leverage Ratio. The Borrower will not permit the
Consolidated Total Leverage Ratio as of the end of any Measurement Period of the Borrower to
be greater than 2.50 to 1.00.




     (b) Consolidated Interest Coverage Ratio. The Borrower will not permit the
Consolidated Interest Coverage Ratio as of the end of any Measurement Period of the Borrower
to be less than 3.00 to 1.00.



     SECTION 6.10. Capital Expenditures. The Borrower will not, and will not permit any of
its Subsidiaries to, make or become legally obligated to make Capital Expenditures in an amount in
the aggregate for the Borrower and it Subsidiaries during each fiscal year exceeding the greater of
(i) $10,000,000 or (ii) an amount equal to two percent (2%) of the gross revenue of the Borrower
and its Subsidiaries for the most recently ended fiscal year, as reported on the Compliance
Certificate delivered pursuant to Section 5.1(c) for such fiscal year.



     SECTION 6.11. Accounting Changes. The Borrower will not, and will not permit any of
its Subsidiaries to, make any change in (a) accounting policies or reporting practices, except as
required by GAAP, or (b) fiscal year.



ARTICLE VII.

EVENTS OF DEFAULT




     SECTION 7.1. Events of Default. If any of the following events (“Events of
Default”) shall occur:




     (a) the Borrower shall fail to pay any principal of any Loan or any reimbursement
obligation in respect of any LC Disbursement when and as the same shall become due and
payable, whether at the due date thereof or at a date fixed for prepayment thereof or
otherwise;




     (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other
amount (other than an amount referred to in clause (a) of this Article) payable
under this Agreement, when and as the same shall become due and payable;



54









 






     (c) any representation or warranty made or deemed made by or on behalf of the Borrower
or any Subsidiary in or in connection with this Agreement, any other Loan Document or any
amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any
report, certificate, financial statement or other document furnished pursuant to or in
connection with this Agreement, any other Loan Document or any amendment or modification
hereof or thereof or waiver hereunder or thereunder, shall prove to have been materially
incorrect when made or deemed made;




     (d) (i) the Borrower shall fail to observe or perform any covenant, condition or
agreement contained in Section 5.2, Section 5.3 (with respect to the
Borrower’s existence), Section 5.5 (with respect to maintenance of insurance),
Section 5.6, Section 5.8, Section 5.9 or Section 5.10 or in
Article VI, (ii) any Guarantor shall fail to perform or observe any term, covenant
or agreement contained in the Guaranty or (iii) the Borrower or any Loan Party fails to
perform or observe any term, covenant or agreement contained in any Collateral Document to
which it is a party after, to the extent expressly provided in such Collateral Document,
receipt of any notice required to be provided therein or grace period permitted therein.




     (e) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clauses (a), (b)
or (d) of this Article), and such failure shall continue unremedied for a period of
30 days after notice thereof from the Administrative Agent to the Borrower (which notice
will be given at the request of any Lender);




     (f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal
or interest and regardless of amount) in respect of any Material Indebtedness, when and as
the same shall become due and payable (after the expiration of any applicable grace period);




     (g) any event or condition occurs that results in any Material Indebtedness becoming
due prior to its scheduled maturity or that enables or permits (with or without the giving
of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or
any trustee or agent on its or their behalf to cause any Material Indebtedness to become
due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to
its scheduled maturity; provided that this clause (g) shall not apply to
secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the
property or assets securing such Indebtedness;




     (h) an involuntary proceeding shall be commenced or an involuntary petition shall be
filed seeking (i) liquidation, reorganization or other relief in respect of the Borrower or
any Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator
or similar official for the Borrower or any Subsidiary or for a substantial part of its
assets, and, in any such case, such proceeding or petition shall continue undismissed for
60 days or an order or decree approving or ordering any of the foregoing shall be entered;



55









 






     (i) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or
file any petition seeking liquidation, reorganization or other relief under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate
manner, any proceeding or petition described in clause (h) of this Article,
(iii) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a
substantial part of its assets, (iv) file an answer admitting the material allegations of a
petition filed against it in any such proceeding, (v) make a general assignment for the
benefit of creditors or (vi) take any action for the purpose of effecting any of the
foregoing;




     (j) the Borrower or any Subsidiary shall become unable, admit in writing its inability
or fail generally to pay its debts as they become due;




     (k) one or more judgments for the payment of money in an aggregate amount in excess of
$100,000 shall be rendered against the Borrower, any Subsidiary or any combination thereof
and the same shall remain undischarged for a period of 30 consecutive days during which
execution shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to
enforce any such judgment;




     (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders,
when taken together with all other ERISA Events that have occurred, could reasonably be
expected to result in a Material Adverse Effect;




     (m) any provision of any Loan Document, at any time after its execution and delivery
and for any reason other than as expressly permitted hereunder or thereunder or satisfaction
in full of all the Obligations, ceases to be in full force and effect; or any Loan Party or
any other Person contests in any manner the validity or enforceability of any provision of
any Loan Document; or any Loan Party denies that it has any or further liability or
obligation under any provision of any Loan Document, or purports to revoke, terminate or
rescind any provision of any Loan Document;




     (n) any Collateral Document or any Lien granted thereunder shall (except in accordance
with its terms), in whole or in part, terminate, cease to be effective or cease to be the
legally valid, binding and enforceable obligation of any Loan Party or any of its
Subsidiaries party thereto, or any Loan Party or any other Person shall, directly or
indirectly, contest or limit in any manner such effectiveness, validity, binding nature or
enforceability; or, except as permitted under any Collateral Document, any Lien securing any
Obligation shall, in whole or in part, cease to be a perfected Lien; or




     (o) a Change in Control shall occur;


then, and in every such event (other than an event with respect to the Borrower described in
clause (h) or clause (i) of this Article), and at any time thereafter during the
continuance of such event, the Administrative Agent may, and at the request of the Required Lenders
shall, by notice to the Borrower, take either or both of the following actions, at the same or
different


56









 






times:  (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately,
and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which
case any principal not so declared to be due and payable may thereafter be declared to be due and
payable), and thereupon the principal of the Loans so declared to be due and payable, together with
accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder,
shall become due and payable immediately, without presentment, demand, protest or other notice of
any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to
the Borrower described in clause (h) or clause (i) of this Article, the Commitments
shall automatically terminate and the principal of the Loans then outstanding, together with
accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder,
shall automatically become due and payable, without presentment, demand, protest or other notice of
any kind, all of which are hereby waived by the Borrower. The Lenders and the Administrative Agent
shall have all other rights and remedies available at law or in equity or pursuant to any Loan
Documents.




     SECTION 7.2. Application of Payments. After the exercise of remedies provided for in
Section 7.1 (or after the Loans have automatically become immediately due and payable), any
amounts received on account of the Obligations shall be applied by the Administrative Agent in the
following order:




     (a) First, to the payment of, or (as the case may be) the reimbursement of the
Administrative Agent for or in respect of all reasonable costs, expenses, disbursements and
losses which shall have been incurred or sustained by the Administrative Agent in connection
with the collection of such monies by the Administrative Agent, for the exercise, protection
or enforcement by the Administrative Agent of all or any of the rights, remedies, powers and
privileges of the Administrative Agent under this Credit Agreement or any of the other Loan
Documents or in respect of the Securities Collateral or in support of any provision of
adequate indemnity to the Administrative Agent against any taxes or liens which by law shall
have, or may have, priority over the rights of the Administrative Agent to such monies;




     (b) Second, to the payment of that portion of the Obligations constituting
fees, indemnities and other amounts (other than principal, interest and Letter of Credit
fees) payable to the Administrative Agent and the Lenders and the Issuing Bank (including
fees, charges and disbursements of counsel to the respective Administrative Agent, the
Lenders and the Issuing Bank (including fees and time charges for attorneys who may be
employees of the Administrative Agent, any Lender or the Issuing Bank), ratably among them
in proportion to the respective amounts described in this clause Second payable to
them;




     (c) Third, to the payment of that portion of the Obligations constituting
interest on the Loans, LC Disbursements that have not yet been reimbursed by or on behalf of
the Borrower at such time, and accrued and unpaid Letter of Credit fees, ratably among the
Lenders and the Issuing Bank in proportion to the respective amounts described in this
clause Third payable to them;




     (d) Fourth, to (i) the payment of that portion of the Obligations constituting
unpaid principal of the Loans, (ii) payment of breakage, termination or other amounts



57









 







owing in respect of any Swap Agreement between the Borrower and any Lender or any
Affiliate of any Lender and (iii) the Administrative Agent, for the account of the Issuing
Bank, to cash collateralize the aggregate undrawn amount of Letters of Credit in an amount
equal to 105% of such undrawn amount, ratably among such parties in proportion to the
respective amounts described in this clause Fourth payable to them; and




     (e) Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full in cash, to the Borrower or as otherwise required by applicable
law.



ARTICLE VIII.

THE ADMINISTRATIVE AGENT; ETC.



  Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.



  The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate
thereof as if it were not the Administrative Agent hereunder.



  The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Administrative Agent is required to exercise in writing as
directed by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 9.2), and (c) except as expressly
set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to the Borrower or any of its
Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any
of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action
taken or not taken by it with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.2) or in the absence of its own gross negligence or wilful misconduct. The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until written
notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into
(i) any statement, warranty or representation made in or in connection with this Agreement,
(ii) the contents of any certificate, report or other document delivered hereunder or in connection
herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of
this Agreement or any other agreement, instrument or document, or (v) the satisfaction of any





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condition set forth in Article IV or elsewhere herein, other than to confirm receipt
of items expressly required to be delivered to the Administrative Agent.




        The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.



        The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.



        Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the
right, in consultation with the Borrower, to appoint a successor. If no successor shall have been
so appointed by the Required Lenders and shall have accepted such appointment within 30 days after
the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent
which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon
the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of the
retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the Administrative Agent’s resignation hereunder, the
provisions of this Article and Section 9.3 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of
any actions taken or omitted to be taken by any of them while it was acting as Administrative
Agent.



        Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any related agreement or any document furnished hereunder or thereunder.



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        Anything herein to the contrary notwithstanding, the Syndication Agent listed on the cover
page hereof shall not have any powers, duties or responsibilities under this Agreement or any of
the other Loan Documents, except in its capacity a Lender hereunder.



ARTICLE IX.

MISCELLANEOUS




     SECTION 9.1. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all
notices and other communications provided for herein shall be in writing and shall be delivered by
hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as
follows:




     (i) if to the Borrower, to it at Harris Interactive Inc., 60 Corporate Woods,
Rochester, New York 14623, Attention of Chief Financial Officer (Telecopy
No. (585) 273-0510);




     (ii) if to the Administrative Agent, to JPMorgan Chase Bank, Loan and Agency
Services Group, 10 South Dearborn Street, 7th Floor, Chicago, Illinois 60605,
Attention of Muoy Lim (Telecopy No. (312) 385-7103, with a copy to JPMorgan Chase
Bank, National Association, Middle Market Banking, 1 Chase Square, Floor 9,
Rochester, NY 14643, Attention of James Stanbrough (Telecopy No. (585) 797-1860);




     (iii) if to the Issuing Bank, to it 10 South Dearborn Street, 7th Floor,
Chicago, Illinois 60605, Attention of Muoy Lim (Telecopy No. (312) 385-7103; and




     (iv) if to any other Lender, to it at its address (or telecopy number) set
forth in its Administrative Questionnaire.




     (b) Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communications pursuant to procedures approved by the Administrative
Agent; provided that the foregoing shall not apply to notices pursuant to Article II
unless otherwise agreed by the Administrative Agent and the applicable Lender. The
Administrative Agent or the Borrower may, in its discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to procedures
approved by it; provided that approval of such procedures may be limited to particular
notices or communications.




     (c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement
shall be deemed to have been given on the date of receipt.



     SECTION 9.2. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, the Issuing Bank or any Lender in exercising any right or power hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any



60









 







abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of
the Administrative Agent, the Issuing Bank and the Lenders hereunder are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
this Agreement or consent to any departure by the Borrower therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, 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 issuance of
a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the
Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such
Default at the time.




     (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 Borrower and
the Required Lenders or by the Borrower and the Administrative Agent with the consent of the
Required Lenders; provided that no such agreement shall (i) increase the Commitment
of any Lender without the written consent of such Lender, (ii) reduce the principal amount
of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees
payable hereunder, without the written consent of each Lender affected thereby, (iii)
postpone the scheduled date of payment of the principal amount of any Loan or LC
Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the amount
of, waive or excuse any such payment, or postpone the scheduled date of expiration of any
Commitment, without the written consent of each Lender affected thereby, (iv) change
Section 2.17(b) or (c) in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent of each Lender, (v) change any of the
provisions of this Section or the definition of “Required Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend or modify any
rights hereunder or make any determination or grant any consent hereunder, without the
written consent of each Lender or (vi) change the definition of “Required Revolving Credit
Lenders” without the written consent of each Revolving Credit Lender; provided
further that no such agreement shall amend, modify or otherwise affect the rights or
duties of the Administrative Agent or the Issuing Bank hereunder without the prior written
consent of the Administrative Agent or the Issuing Bank, as the case may be.



     SECTION 9.3. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection with the syndication of the credit facilities provided for herein, the preparation
and administration of this Agreement or any amendments, modifications or waivers of the provisions
hereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)
all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance,
amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any
Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent,
the Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in
connection with this Agreement,



61









 







including its rights under this Section, or in connection with the Loans made or Letters of
Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.




     (b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank and each
Lender, and each Related Party of any of the foregoing Persons (each such Person being
called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective obligations hereunder or the
consummation of the Transactions or any other transactions contemplated hereby, (ii) any
Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by the
Issuing Bank to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such
Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Borrower or any of its Subsidiaries, or any
Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or
(iv) any actual or prospective claim, litigation, investigation or proceeding relating to
any of the foregoing, whether based on contract, tort or any other theory and regardless of
whether 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 are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the gross negligence or wilful misconduct
of such Indemnitee.




     (c) To the extent that the Borrower fails to pay any amount required to be paid by it
to the Administrative Agent or the Issuing Bank under paragraph (a) or paragraph
(b) of this Section, each Lender severally agrees to pay to the Administrative Agent or
the Issuing Bank, as the case may be, such Lender’s Applicable Percentage (determined as of
the time that the applicable unreimbursed expense or indemnity payment is sought) of such
unpaid amount; provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent or the Issuing Bank in its capacity as such.




     (d) To the extent permitted by applicable law, the Borrower shall not assert, and
hereby waives, any claim against any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising
out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the
proceeds thereof.




     (e) All amounts due under this Section shall be payable not later than five (5)
Business Days after written demand therefor.



62









 





     SECTION 9.4. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of
Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants
(to the extent provided in paragraph (c) of this Section) and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and
the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.




     (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more assignees all or a portion of its rights and obligations
under this Agreement (including all or a portion of its Commitment and the Loans at the time
owing to it) with the prior written consent (such consent not to be unreasonably withheld)
of:




     (A) the Borrower, provided that no consent of the Borrower
shall be required for an assignment to a Lender, an Affiliate of a Lender,
an Approved Fund or, if an Event of Default has occurred and is continuing,
any other assignee;




     (B) the Administrative Agent, provided that no consent of the
Administrative Agent shall be required for an assignment of all or any
portion of a Term A Loan or a Multiple Advance Term Loan (other than any
Multiple Advance Term Loan Commitment) to a Lender, an Affiliate of a Lender
or an Approved Fund; and




     (C) the Issuing Bank, provided that no consent of the Issuing
Bank shall be required for an assignment of all or any portion of a Term A
Loan or a Multiple Advance Term Loan.




     (ii) Assignments shall be subject to the following additional conditions:




     (A) except in the case of an assignment to a Lender or an Affiliate of
a Lender or an assignment of the entire remaining amount of the assigning
Lender’s Commitment or Loans of any Class, the amount of the Commitment or
Loans of the assigning Lender subject to each such assignment (determined as
of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent) shall not be less than $5,000,000 or,
in the case of a Term A Loan or a Multiple Advance Term Loan, $1,000,000
unless each of the Borrower and the Administrative Agent otherwise consent,
provided that no such



63









 







consent of the Borrower shall be required if an Event of Default has
occurred and is continuing;




     (B) each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations
under this Agreement, provided that this clause shall not be
construed to prohibit the assignment of a proportionate part of all the
assigning Lender’s rights and obligations in respect of one Class of
Commitments or Loans;




     (C) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee of $3,500; and




     (D) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee
designates one or more credit contacts to whom all syndicate-level
information (which may contain material non-public information about the
Borrower and its related parties or its securities) will be made available
and who may receive such information in accordance with the assignee’s
compliance procedures and applicable laws, including Federal and state
securities laws.




     For the purposes of this Section 9.4(b), the term “Approved Fund” has
the following meaning:




     “Approved Fund” means any Person (other than a natural person) that is engaged
in making, purchasing, holding or investing in bank loans and similar extensions of credit
in the ordinary course of its business and that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers
or manages a Lender.




     (iii) Subject to acceptance and recording thereof pursuant to
paragraph (b)(iv) of this Section, from and after the effective date
specified in each Assignment and Assumption the assignee thereunder shall be a party
hereto and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Lender under this Agreement, and
the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the
assigning Lender’s rights and obligations under this Agreement, such Lender shall
cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 2.14, 2.15, 2.16 and 9.3). Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not
comply with this Section 9.4 shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations
in accordance with paragraph (c) of this Section.



64









 






     (iv) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and
Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Commitment of, and principal amount of the Loans
and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”). The entries in the Register shall be conclusive, and
the Borrower, the Administrative Agent, the Issuing Bank and the Lenders may treat
each Person whose name is recorded in the Register pursuant to the terms hereof as a
Lender hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary. The Register shall be available for inspection by the Borrower, the
Issuing Bank and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.




     (v) Upon its receipt of a duly completed Assignment and Assumption executed by
an assigning Lender and an assignee, the assignee’s completed Administrative
Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) of this Section
and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and
record the information contained therein in the Register; provided that if
either the assigning Lender or the assignee shall have failed to make any payment
required to be made by it pursuant to Section 2.5(d) or (e),
2.6(b), 2.17(d) or 9.3(c), the Administrative Agent shall
have no obligation to accept such Assignment and Assumption and record the
information therein in the Register unless and until such payment shall have been
made in full, together with all accrued interest thereon. No assignment shall be
effective for purposes of this Agreement unless it has been recorded in the Register
as provided in this paragraph.




     (c) (i) Any Lender may, without the consent of the Borrower, the Administrative Agent
or the Issuing Bank, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (A) such Lender’s obligations under this Agreement shall remain
unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations and (C) the Borrower, the Administrative Agent, the
Issuing Bank and the other Lenders shall continue to deal solely and directly with such
Lender in connection with such Lender’s rights and obligations under this Agreement. Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of
the Participant, agree to any amendment, modification or waiver described in the first
proviso to Section 9.2(b) that affects such Participant. Subject to paragraph
(c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to
the benefits of Sections 2.14, 2.15 and 2.16 to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to paragraph
(b) of this



65









 







Section. To the extent permitted by law, each Participant also shall be entitled to
the benefits of Section 9.8 as though it were a Lender, provided such Participant
agrees to be subject to Section 2.17(c) as though it were a Lender.




     (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.14 or Section 2.16 than the applicable Lender would have
been entitled to receive with respect to the participation sold to such Participant,
unless the sale of the participation to such Participant is made with the Borrower’s
prior written consent. A Participant that would be a Foreign Lender if it were a
Lender shall not be entitled to the benefits of Section 2.16 unless the
Borrower is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrower, to comply with Section
2.16(e) as though it were a Lender.




     (d) Any Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such Lender, including
without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank,
and this Section shall not apply to any such pledge or assignment of a security interest;
provided that no such pledge or assignment of a security interest shall release a
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for
such Lender as a party hereto.



     SECTION 9.5. Survival. All covenants, agreements, representations and warranties made
by the Borrower herein and in the certificates or other instruments delivered in connection with
or pursuant to this Agreement shall be considered to have been relied upon by the other parties
hereto and shall survive the execution and delivery of this Agreement and the making of any Loans
and issuance of any Letters of Credit, regardless of any investigation made by any such other party
or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender
may have had notice or knowledge of any Default or incorrect representation or warranty at the time
any credit is extended hereunder, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Loan or any fee or any other amount payable under this
Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Sections 2.14, 2.15,
2.16 and 9.3 and Article VIII shall survive and remain in full force and
effect regardless of the consummation of the transactions contemplated hereby, the repayment of the
Loans, the expiration or termination of the Letters of Credit and the Commitments or the
termination of this Agreement or any provision hereof.



     SECTION 9.6. Counterparts; Integration; Effectiveness. This Agreement may be executed
in counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. Except as provided in Section 4.1, this Agreement
shall become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof which, when taken together, bear



66









 







the signatures of each of the other parties hereto, and thereafter shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns. Delivery
of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as
delivery of a manually executed counterpart of this Agreement.



     SECTION 9.7. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.



     SECTION 9.8. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time
to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final) at any time held and other obligations at any
time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against
any of and all the obligations of the Borrower now or hereafter existing under this Agreement held
by such Lender, irrespective of whether or not such Lender shall have made any demand under this
Agreement and although such obligations may be unmatured. The rights of each Lender under this
Section are in addition to other rights and remedies (including other rights of setoff) which such
Lender may have.



     SECTION 9.9. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the internal law of the State of
New York (including Section 5-1401 and Section 5-1402 of the General Obligations laws of the State
of New York).




     (b) The Borrower hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York
sitting in New York County and of the United States District Court of the Southern District
of New York, and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement, 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
Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to
this Agreement against the Borrower or its properties in the courts of any jurisdiction.




     (c) The Borrower 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 in any court referred to in paragraph (b) of this Section. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the



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defense of an inconvenient forum to the maintenance of such action or proceeding in any
such court.




     (d) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 9.1. Nothing in this Agreement will affect
the right of any party to this Agreement to serve process in any other manner permitted by
law.



     SECTION 9.10. 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 ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 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.



     SECTION 9.11. 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 shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.



     SECTION 9.12. Confidentiality. (a) Each of the Administrative Agent, the Issuing Bank
and the Lenders agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (i) to its and its Affiliates’ directors, officers,
employees and agents, including accountants, legal counsel and other advisors (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential), (ii) to the extent
requested by any regulatory authority, (iii) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, provided, that to the extent reasonably
practicable and not prohibited by applicable law, regulation, subpoena or similar legal process,
prior telephonic notice is given to the Borrower of such intended disclosure (it being agreed by
the parties that the failure by the Administrative Agent, the Issuing Bank or any Lender to give
such prior telephonic notice shall not impair the effectiveness of this Agreement or be deemed a
breach of this Section 9.12), (iv) to any other party to this Agreement, (v) in connection
with the exercise of any remedies hereunder or any suit, action or proceeding relating to this
Agreement or the enforcement of rights hereunder, (vi) subject to an agreement containing
provisions substantially the same as those of this Section, (X) to any assignee of or Participant
in, or any prospective assignee of or Participant in, any of its rights or obligations under this
Agreement or (Y) any actual or prospective counterparty (or its advisors) to any swap or derivative
transaction relating to the Borrower and its obligations, (vii) with the consent of the Borrower or
(viii) to the extent such Information (X) becomes publicly available other than as a result of a
breach of this Section or (Y) becomes available to the Administrative Agent, the Issuing Bank or
any Lender on a nonconfidential basis from a source other than the Borrower.



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For the purposes of this Section, “Information” means all information received from
the Borrower relating to the Borrower or its business, other than any such information that is
available to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis
prior to disclosure by the Borrower; provided that, in the case of information received
from the Borrower after the date hereof, such information is clearly identified at the time of
delivery as confidential. Any Person required to maintain the confidentiality of Information as
provided in this Section shall be considered to have complied with its obligation to do so if such
Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information.





     (b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a)
FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION
CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND
CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL
NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN
ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES
LAWS.




     (c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE
BORROWER OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS
AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC
INFORMATION ABOUT THE BORROWER AND ITS RELATED PARTIES OR ITS SECURITIES. ACCORDINGLY, EACH
LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS
ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE
LAW.



     SECTION 9.13. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance
with applicable law, the rate of interest payable in respect of such Loan hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not
payable as a result of the operation of this Section shall be cumulated and the interest and
Charges payable to such Lender in respect of other Loans or periods shall be increased (but not
above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.



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     SECTION 9.14. USA PATRIOT Act. Each Lender that is subject to the requirements of the
USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”) hereby notifies the Borrower that pursuant to the requirements of the Act, it is
required to obtain, verify and record information that identifies the Borrower, which information
includes the name and address of the Borrower and other information that will allow such Lender to
identify the Borrower in accordance with the Act.



***Signature Page Follows***




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        IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.



	 	 	 	 	 	 	 
	 	 	HARRIS INTERACTIVE INC., as Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ronald E. Salluzzo	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ronald E. Salluzzo	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 






[Signature page to Credit Agreement — Borrower]









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	 	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as

Administrative Agent,
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James C. Stanbrough	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James C. Stanbrough	 	 
	 

	 	Title:
	 	Vice President	 	 






[Signature page to Credit Agreement — Administrative Agent]









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	 	 	JPMORGAN CHASE
BANK, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas C. Strasenburgh
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Thomas C. Strasenburgh	 	 
	 

	 	Title:
	 	Vice President	 	 






[Signature page to Credit Agreement — JPMorgan Chase Bank, National Association]









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	 	 	MANUFACTURERS AND TRADERS TRUST COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Brett W. Rawlings	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Brett W. Rawlings	 	 
	 

	 	Title:
	 	Banking Officer	 	 






[Signature page to Credit Agreement — Manufacturers and Traders Trust Company]




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	 	 	RBS CITIZENS, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Charles J. Vita	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Charles J. Vita	 	 
	 

	 	Title:
	 	District President/SVP Rochester NY	 	 






[Signature page to Credit Agreement — RBS Citizens, National Association]




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	 	 	NATIONAL CITY BANK, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Cristina S. Fecten	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Cristina S. Fecten	 	 
	 

	 	Title:
	 	AVP	 	 






[Signature page to Credit Agreement — National City Bank]




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	 	 	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Guy R. Nudd	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Guy R. Nudd	 	 
	 

	 	Title:
	 	First Vice President	 	 







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