Document:

$600,000,000 THREE YEAR CREDIT AGREEMENT FOR DUKE ENERGY CORPORATION

 EXHIBIT 10-3 
  
 $500,000,000 
  
 THREE-YEAR 
 CREDIT AGREEMENT 
  
 dated as of 
  
 June 30, 2004 
  
 among 
  
 Duke Energy Corporation, 
  
 The Banks Listed Herein, 
  
 Citicorp USA, Inc., 
 as Administrative Agent 
  
 and 
  
 Bank of America, N.A., 
 as Syndication Agent

  

  
 Citigroup Global Markets Inc. and 
 Banc of
America Securities LLC 
  
 Joint Lead Arrangers and 
 Joint Bookrunners 
  
 Deutsche Bank Securities Inc., 
 JPMorgan Chase Bank and 
 UBS Securities LLC 
  
 Documentation Agents 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE

	 	  	ARTICLE 1	  	 
	 	  	DEFINITIONS	  	 
			
	 Section 1.01.
	  	Definitions	  	1
	 Section 1.02.
	  	Accounting Terms and Determinations	  	9
	 Section 1.03.
	  	Types of Borrowings	  	9
			
	 	  	ARTICLE 2	  	 
	 	  	THE CREDITS	  	 
			
	 Section 2.01.
	  	Commitments to Lend	  	10
	 Section 2.02.
	  	Notice of Borrowings	  	11
	 Section 2.03.
	  	Notice to Banks; Funding of Loans	  	11
	 Section 2.04.
	  	Registry; Notes	  	12
	 Section 2.05.
	  	Maturity of Loans	  	13
	 Section 2.06.
	  	Interest Rates	  	13
	 Section 2.07.
	  	Fees	  	14
	 Section 2.08.
	  	Optional Termination or Reduction of Commitments	  	14
	 Section 2.09.
	  	Method of Electing Interest Rates	  	15
	 Section 2.10.
	  	Mandatory Termination of Commitments	  	16
	 Section 2.11.
	  	Optional Prepayments	  	16
	 Section 2.12.
	  	General Provisions as to Payments	  	16
	 Section 2.13.
	  	Funding Losses	  	17
	 Section 2.14.
	  	Computation of Interest and Fees	  	17
	 Section 2.15.
	  	Regulation D Compensation	  	18
			
	 	  	ARTICLE 3	  	 
	 	  	CONDITIONS	  	 
			
	 Section 3.01.
	  	Effectiveness	  	18
	 Section 3.02.
	  	Borrowings	  	20
			
	 	  	ARTICLE 4	  	 
	 	  	REPRESENTATIONS AND WARRANTIES	  	 
			
	 Section 4.01.
	  	Organization and Power	  	20
	 Section 4.02.
	  	Corporate and Governmental Authorization; No Contravention	  	20
	 Section 4.03.
	  	Binding Effect	  	21
	 Section 4.04.
	  	Financial Information	  	21
	 Section 4.05.
	  	Regulation U	  	21
	 Section 4.06.
	  	Litigation	  	22
	 Section 4.07.
	  	Compliance with Laws	  	22

  

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	 Section 4.08.
	  	Taxes	  	22
	 Section 4.09.
	  	Public Utility Holding Company Act	  	22
			
	 	  	ARTICLE 5	  	 
	 	  	COVENANTS	  	 
			
	 Section 5.01.
	  	Information	  	22
	 Section 5.02.
	  	Payment of Taxes	  	24
	 Section 5.03.
	  	Maintenance of Property; Insurance	  	24
	 Section 5.04.
	  	Maintenance of Existence	  	25
	 Section 5.05.
	  	Compliance with Laws	  	25
	 Section 5.06.
	  	Books and Records	  	25
	 Section 5.07.
	  	Negative Pledge	  	26
	 Section 5.08.
	  	Consolidations, Mergers and Sales of Assets	  	27
	 Section 5.09.
	  	Use of Proceeds	  	27
	 Section 5.10.
	  	Indebtedness/Capitalization Ratio	  	27
			
	 	  	ARTICLE 6	  	 
	 	  	DEFAULTS	  	 
			
	 Section 6.01.
	  	Events of Default	  	28
	 Section 6.02.
	  	Notice of Default	  	30
			
	 	  	ARTICLE 7	  	 
	 	  	THE ADMINISTRATIVE AGENT	  	 
			
	 Section 7.01.
	  	Appointment and Authorization	  	30
	 Section 7.02.
	  	Administrative Agent and Affiliates	  	30
	 Section 7.03.
	  	Action by Administrative Agent	  	30
	 Section 7.04.
	  	Consultation with Experts	  	30
	 Section 7.05.
	  	Liability of Administrative Agent	  	30
	 Section 7.06.
	  	Indemnification	  	31
	 Section 7.07.
	  	Credit Decision	  	31
	 Section 7.08.
	  	Successor Administrative Agent	  	31
	 Section 7.09.
	  	Administrative Agent’s Fee	  	32
	 Section 7.10.
	  	Other Agents	  	32
			
	 	  	ARTICLE 8	  	 
	 	  	CHANGE IN CIRCUMSTANCES	  	 
			
	 Section 8.01.
	  	Basis for Determining Interest Rate Inadequate or Unfair	  	32
	 Section 8.02.
	  	Illegality	  	33
	 Section 8.03.
	  	Increased Cost and Reduced Return	  	33
	 Section 8.04.
	  	Taxes	  	34
	 Section 8.05.
	  	Base Rate Loans Substituted for Affected Euro-Dollar Loans	  	37
	 Section 8.06.
	  	Substitution of Bank; Termination Option	  	37

  

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	 	  	ARTICLE 9	  	 
	 	  	MISCELLANEOUS	  	 
			
	 Section 9.01.
	  	Notices	  	38
	 Section 9.02.
	  	No Waivers	  	38
	 Section 9.03.
	  	Expenses; Indemnification	  	38
	 Section 9.04.
	  	Sharing of Set-offs	  	39
	 Section 9.05.
	  	Amendments and Waivers	  	39
	 Section 9.06.
	  	Successors and Assigns	  	40
	 Section 9.07.
	  	Collateral	  	41
	 Section 9.08.
	  	Confidentiality	  	41
	 Section 9.09.
	  	Governing Law; Submission to Jurisdiction	  	42
	 Section 9.10.
	  	Counterparts; Integration	  	42
	 Section 9.11.
	  	WAIVER OF JURY TRIAL	  	42
	 Section 9.12.
	  	USA Patriot Act	  	42

  
 PRICING SCHEDULE 
  

			
	 SCHEDULE I -
	  	Duke Energy Corporation Credit Facility (Being Replaced by this Agreement)
		
	 EXHIBIT A -
	  	Note
	 EXHIBIT B-1 -
	  	Opinion of Associate General Counsel of the Borrower
	 EXHIBIT B-2 -
	  	Opinion of Special Counsel for the Borrower
	 EXHIBIT C -
	  	Opinion of Davis Polk & Wardwell, Special Counsel for the Agents
	 EXHIBIT D -
	  	Assignment and Assumption Agreement
	 EXHIBIT E -
	  	Extension Agreement

  

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 THREE-YEAR 
 CREDIT AGREEMENT 
  
 THREE-YEAR CREDIT AGREEMENT dated as of June 30, 2004 among DUKE ENERGY CORPORATION, the BANKS listed on the signature pages hereof, CITICORP USA, INC., as Administrative Agent, and BANK OF AMERICA, N.A., as Syndication Agent. 

 
 The parties hereto agree as follows: 
  
 ARTICLE 1 
 DEFINITIONS 
  
 Section 1.01. Definitions. The following terms, as used herein, have the following meanings: 
  
 “Additional Bank” means any financial institution that becomes a Bank for purposes hereof in connection with the replacement of a Bank
pursuant to Section 8.06. 
  
 “Administrative
Agent” means Citicorp USA, Inc. in its capacity as administrative agent for the Banks hereunder, and its successors in such capacity. 
  
 “Administrative Questionnaire” means, with respect to each Bank, the administrative questionnaire in the form submitted to such Bank by
the Administrative Agent and submitted to the Administrative Agent (with a copy to the Borrower) duly completed by such Bank. 
  
 “Affiliate” means, as to any Person (the “specified Person”) (i) any Person that directly, or indirectly through one or
more intermediaries, controls the specified Person (a “Controlling Person”) or (ii) any Person (other than the specified Person or a Subsidiary of the specified Person) which is controlled by or is under common control with a
Controlling Person. As used herein, the term “control” means possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting
securities, by contract or otherwise. Unless otherwise specified, “Affiliate” means an Affiliate of the Borrower. 
  
 “Agent” means any of the Administrative Agent, the Syndication Agent or the Documentation Agents. 
  
 “Applicable Lending Office” means, with respect to any Bank,
(i) in the case of its Base Rate Loans, its Domestic Lending Office and (ii) in the case of its Euro-Dollar Loans, its Euro-Dollar Lending Office. 
  

 “Approved Fund” means any Fund that is administered or managed by (i) a Bank, (ii) an
Affiliate of a Bank or (iii) an entity or an Affiliate of an entity that administers or manages a Bank. 
  
 “Approved Officer” means the president, the treasurer, an assistant treasurer or the controller of the Borrower or such other
representative of the Borrower as may be designated by any one of the foregoing with the consent of the Administrative Agent. 
  
 “Assignee” has the meaning set forth in Section 9.06(c). 
  
 “Bank” means each bank or other financial institution listed on the signature pages hereof, each Additional
Bank, each Assignee which becomes a Bank pursuant to Section 9.06(c), and their respective successors. 
  
 “Base Rate” means, for any day, a rate per annum equal to the higher of (i) the Citibank Rate for such day and (ii) the sum of 1/2 of 1%
plus the Federal Funds Rate for such day. 
  
 “Base Rate
Loan” means (i) a Loan which bears interest at the Base Rate pursuant to the applicable Notice of Borrowing or Notice of Interest Rate Election or the provisions of Article 8 or (ii) an overdue amount which was a Base Rate Loan immediately
before it became overdue. 
  
 “Borrower” means
Duke Energy Corporation, a North Carolina corporation, and its successors. 
  
 “Borrowing” has the meaning set forth in Section 1.03. 
  
 “Citibank Rate” means the rate of interest per annum publicly announced from time to time by Citibank, N.A. as its base rate in effect at
its principal office in New York City. Each change in the Citibank Rate shall be effective on the date such change is publicly announced. 
  
 “Commitment” means (i) with respect to each Bank listed on the signature pages hereof, the amount set forth opposite the name of such
Bank on the signature pages hereof, and (ii) with respect to each Additional Bank or Assignee which becomes a bank pursuant to Sections 8.06 and 9.06(c), the amount of the Commitment thereby assumed by it, in each case as such amount may from time
to time be reduced pursuant to Section 2.08, 2.10, 8.06 or 9.06(c) or increased pursuant to Section 8.06 or 9.06(c). 
  
 “Commitment Termination Date” means, for each Bank, June 30, 2007, as such date may be extended from time to time with respect to such
Bank pursuant to Section 2.01(c) or, if such day is not a Euro-Dollar Business Day, the next preceding Euro-Dollar Business Day. 
  

 2 

 “Consolidated Capitalization” means the sum of (i) Consolidated Indebtedness, (ii)
consolidated common stockholders’ equity as would appear on a consolidated balance sheet of the Borrower and its Consolidated Subsidiaries prepared in accordance with generally accepted accounting principles, (iii) the aggregate liquidation
preference of preferred stocks (other than preferred stocks subject to mandatory redemption or repurchase) of the Borrower and its Consolidated Subsidiaries upon involuntary liquidation, (iv) the aggregate outstanding amount of all Equity Preferred
Securities and (v) minority interests as would appear on a consolidated balance sheet of the Borrower and its Consolidated Subsidiaries prepared in accordance with generally accepted accounting principles. 
  
 “Consolidated Indebtedness” means, at any date, all
Indebtedness of the Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with generally accepted accounting principles. 
  

“Consolidated Subsidiary” means, for any Person, at any date any Subsidiary or other entity the accounts of which would be
consolidated with those of such Person in its consolidated financial statements if such statements were prepared as of such date; unless otherwise specified “Consolidated Subsidiary” means a Consolidated Subsidiary of the Borrower.

  
 “Default” means any condition or event which
constitutes an Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default. 
  
 “Documentation Agent” means each of Deutsche Bank Securities Inc., JPMorgan Chase Bank and UBS Securities LLC, in its capacity as a
documentation agent in connection with the credit facility provided under this Agreement. 
  
 “Domestic Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized by law to close. 
  
 “Domestic Lending Office” means, as to each Bank, its office
located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Domestic Lending Office) or such other office as such Bank may hereafter designate as its Domestic Lending Office by
notice to the Borrower and the Administrative Agent. 
  
 “Effective Date” means the date this Agreement becomes effective in accordance with Section 3.01. 
  
 “Endowment” means the Duke Endowment, a charitable common law trust established by James B. Duke by Indenture dated December 11, 1924.

  

 3 

 “Environmental Laws” means any and all federal, state, local and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or other governmental restrictions relating to the environment or to emissions, discharges, releases of pollutants,
contaminants, chemicals, or industrial, toxic or hazardous substances or wastes into the environment including, without limitation, ambient air, surface water, ground water, or land, or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport, or handling of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or wastes. 
  
 “Equity Preferred Securities” means any securities, however denominated, (i) issued by the Borrower or any
Consolidated Subsidiary of the Borrower, (ii) that are not subject to mandatory redemption or the underlying securities, if any, of which are not subject to mandatory redemption, (iii) that are perpetual or mature no less than 20 years from the date
of issuance, (iv) the indebtedness issued in connection with which, including any guaranty, is subordinated in right of payment to the unsecured and unsubordinated indebtedness of the issuer of such indebtedness or guaranty and (v) the terms of
which permit the deferral of interest or distributions thereon to date occurring after the first anniversary of the Commitment Termination Date. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
  
 “ERISA Group” means all members of a controlled group of
corporations and all trades or businesses (whether or not incorporated) under common control which, together with the Borrower, are treated as a single employer under Section 414 of the Internal Revenue Code. 
  
 “Euro-Dollar Business Day” means any Domestic Business Day
on which commercial banks are open for international business (including dealings in dollar deposits) in London. 
  
 “Euro-Dollar Lending Office” means, as to each Bank, its office, branch or affiliate located at its address set forth in its
Administrative Questionnaire (or identified in its Administrative Questionnaire as its Euro-Dollar Lending Office) or such other office, branch or affiliate of such Bank as it may hereafter designate as its Euro-Dollar Lending Office by notice to
the Borrower and the Administrative Agent. 
  
 “Euro-Dollar Loan” means (i) a Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a Euro-Dollar Loan
immediately before it became overdue. 
  
 “Euro-Dollar
Margin” means the applicable rate per annum determined in accordance with the Pricing Schedule. 
  

 4 

 “Euro-Dollar Rate” means a rate of interest determined pursuant to Section 2.06(b) on
the basis of a London Interbank Offered Rate. 
  
 “Euro-Dollar Reference Banks” means the principal London offices of Citibank, N.A. and Bank of America, N.A. 
  
 “Euro-Dollar Reserve Percentage” has the meaning set forth in Section 2.15. 
  
 “Event of Default” has the meaning set forth in Section 6.01. 
  
 “Existing Credit Agreement” means the credit facility
identified in Schedule I hereto, as amended and in effect on the Effective Date. 
  
 “Facility Fee Rate” has the meaning set forth in the Pricing Schedule. 
  
 “Federal Funds Rate” means, for any day, the rate per annum (rounded upwards, if necessary, to the nearest 1/100th of 1%) equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Domestic Business Day next
succeeding such day; provided that (i) if such day is not a Domestic Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Domestic Business Day as so published on the next succeeding
Domestic Business Day and (ii) if no such rate is so published on such next succeeding Domestic Business Day, the Federal Funds Rate for such day shall be the average rate quoted to Citibank, N.A. on such day on such transactions as determined by
the Administrative Agent. 
  
 “Final Maturity
Date” means, for each Bank, the first anniversary of its Commitment Termination Date or, if such day is not a Euro-Dollar Business Day, the next preceding Euro-Dollar Business Day. 
  
 “Fund” means any Person (other than a natural Person) that
is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
  
 “Group of Loans” means at any time a group of Loans consisting of (i) all Loans which are Base Rate Loans
at such time or (ii) all Euro-Dollar Loans having the same Interest Period at such time; provided that, if a Loan of any particular Bank is converted to or made as a Base Rate Loan pursuant to Article 8, such Loan shall be included in the
same Group or Groups of Loans from time to time as it would have been if it had not been so converted or made. 
  
 “Indebtedness” of any Person means at any date, without duplication, (i) all obligations of such Person for borrowed money, (ii) all
indebtedness of such Person for the deferred purchase price of property or services purchased 

  

 5 

 
(excluding current accounts payable incurred in the ordinary course of business), (iii) all indebtedness created or arising under any conditional sale or
other title retention agreement with respect to property acquired, (iv) all indebtedness under leases which shall have been or should be, in accordance with generally accepted accounting principles, recorded as capital leases in respect of which
such Person is liable as lessee, (v) the face amount of all outstanding letters of credit issued for the account of such Person (other than letters of credit relating to indebtedness included in Indebtedness of such Person pursuant to another clause
of this definition) and, without duplication, the unreimbursed amount of all drafts drawn thereunder, (vi) indebtedness secured by any Lien on property or assets of such Person, whether or not assumed (but in any event not exceeding the fair market
value of the property or asset), (vii) all direct guarantees of Indebtedness referred to above of another Person, (viii) all amounts payable in connection with mandatory redemptions or repurchases of preferred stock and (ix) any obligations of such
Person (in the nature of principal or interest) in respect of acceptances or similar obligations issued or created for the account of such Person. 
  
 “Interest Period” means, with respect to each Euro-Dollar Loan, the period commencing on the date of borrowing specified in the
applicable Notice of Borrowing or on the date specified in an applicable Notice of Interest Rate Election and ending one, two, three or six, or, if deposits of a corresponding maturity are generally available in the London interbank market, nine or
twelve, months thereafter, as the Borrower may elect in such notice; provided that: 
  
 (a) any Interest Period which would otherwise end on a day which is not a Euro-Dollar Business Day shall be extended to the next
succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Euro-Dollar Business Day; and 
  
 (b) any Interest Period which begins on the last Euro-Dollar
Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Euro-Dollar Business Day of a calendar month; 
  
 provided further that: (x) no Interest Period applicable to any Loan of any
Bank which begins before such Bank’s Commitment Termination Date may end after such Bank’s Commitment Termination Date; and (y) no Interest Period applicable to any Loan of any Bank may end after such Bank’s Final Maturity Date.

  
 “Internal Revenue Code” means the Internal
Revenue Code of 1986, as amended, or any successor statute. 
  
 “Investment Grade Status” exists as to any Person at any date if all senior long-term unsecured debt securities of such Person outstanding at such date 

  

 6 

 
which had been rated by S&P or Moody’s are rated BBB- or higher by S&P or Baa3 or higher by Moody’s, as the case may be. 

 
 “Lien” means, with respect to any asset, any mortgage,
lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset. For the purposes of this Agreement, the Borrower or any Subsidiary shall be deemed to own subject to a Lien any asset which it has acquired or holds subject
to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset. 
  
 “Loan” means a loan made by a Bank pursuant to Section 2.01(a) or 2.01(b); provided that, if any loan or loans (or portions
thereof) are combined or subdivided pursuant to a Notice of Interest Rate Election, the term “Loan” shall refer to the combined principal amount resulting from such combination or to each of the separate principal amounts resulting from
such subdivision, as the case may be. 
  
 “London
Interbank Offered Rate” has the meaning set forth in Section 2.06(b). 
  
 “Material Debt” means Indebtedness of the Borrower or any of its Material Subsidiaries in an aggregate principal amount exceeding $150,000,000. 
  
 “Material Plan” has the meaning set forth in Section
6.01(i). 
  
 “Material Subsidiary” means at any
time any Subsidiary of the Borrower that is a “significant subsidiary” (as such term is defined on the Effective Date in Regulation S-X of the Securities and Exchange Commission (17 CFR 210.1-02(w)), but treating all references therein to
the “registrant” as references to the Borrower); provided, however, in no event shall Duke Energy Field Services, LLC be deemed a Material Subsidiary. 
  
 “Moody’s” means Moody’s Investors Service, Inc. 
  
 “Mortgage Indenture” means the First and Refunding Mortgage
between the Borrower and JPMorgan Chase Bank, as successor trustee, dated as of December 1, 1927, as amended or supplemented from time to time. 
  
 “Notes” means promissory notes of the Borrower, in the form required by Section 2.04, evidencing the obligation of the Borrower to repay
the Loans, and “Note” means any one of such promissory notes issued hereunder. 
  
 “Notice of Borrowing” has the meaning set forth in Section 2.02. 
  
 “Notice of Interest Rate Election” has the meaning set forth in Section 2.09(b). 
  

 7 

 “Parent” means, with respect to any Bank, any Person controlling such Bank. 

 
 “Participant” has the meaning set forth in Section
9.06(b). 
  
 “PBGC” means the Pension Benefit
Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA. 
  
 “Person” means an individual, a corporation, a partnership, an association, a trust or any other entity or organization, including a government or political subdivision or an agency or instrumentality
thereof. 
  
 “Plan” means at any time an employee
pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Internal Revenue Code and is either (i) maintained by a member of the ERISA Group for employees of a member of the ERISA
Group or (ii) maintained pursuant to a collective bargaining agreement or any other arrangement under which more than one employer makes contributions and to which a member of the ERISA Group is then making or accruing an obligation to make
contributions or has within the preceding five plan years made contributions. 
  
 “Pricing Schedule” means the Pricing Schedule attached hereto. 
  
 “Quarterly Payment Date” means the first Domestic Business Day of each January, April, July and October. 
  
 “Regulation U” means Regulation U of the Board of Governors
of the Federal Reserve System, as in effect from time to time. 
  
 “Required Banks” means at any time Banks (i) having at least 51% of the sum of the aggregate amount of the Commitments or (ii) if all the Commitments shall have been terminated, holding at least 51% of the aggregate unpaid
principal amount of the Loans. 
  
 “Revolving Credit
Loan” means a loan made or to be made by a Bank pursuant to Section 2.01(a); provided that, if any such loan or loans (or portions thereof) are combined or subdivided pursuant to a Notice of Interest Rate Election, the term
“Revolving Credit Loan” shall refer to the combined principal amount resulting from such combination or to each of the separate principal amounts resulting from such subdivision, as the case may be. 
  
 “Revolving Credit Period” means, with respect to any Bank,
the period from and including the Effective Date to but not including its Commitment Termination Date. 
  
 “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc. 
  

 8 

 “Subsidiary” means, as to any Person, any corporation or other entity of which
securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person; unless otherwise specified,
“Subsidiary” means a Subsidiary of the Borrower. 
  
 “Substantial Assets” means assets sold or otherwise disposed of in a single transaction or a series of related transactions representing 25% or more of the consolidated assets of the Borrower and its Consolidated
Subsidiaries, taken as a whole. 
  
 “Syndication
Agent” means Bank of America, N.A., in its capacity as syndication agent for the Banks hereunder, and its successors in such capacity. 
  
 “Term Loan” means a loan made or to be made by a Bank pursuant to Section 2.01(b); provided that, if any such loan or loans (or
portions thereof) are combined or subdivided pursuant to a Notice of Interest Rate Election, the term “Term Loan” shall refer to the combined principal amount resulting from such combination or to each of the separate principal amounts
resulting from such subdivision, as the case may be. 
  
 “Trust” means The Doris Duke Trust, a trust established by James B. Duke by Indenture dated December 11, 1924 for the benefit of certain relatives. 
  
 “United States” means the United States of America, including the States and the District of Columbia, but
excluding its territories and possessions. 
  
 “Unfunded
Vested Liabilities” means, with respect to any Plan at any time, the amount (if any) by which (i) the present value of all benefits under such Plan exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all
determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the ERISA Group to the PBGC or the Plan under Title IV of ERISA. 
  
 “Utilization” has the meaning set forth in the Pricing
Schedule. 
  
 Section 1.02. Accounting Terms and
Determinations. Unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in
accordance with generally accepted accounting principles as in effect from time to time, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants) with the most recent audited consolidated
financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Banks. 
  
 Section 1.03. Types of Borrowings. The term “Borrowing” denotes the aggregation of Loans of one or more Banks to be made to the Borrower pursuant 

  

 9 

 
to Article 2 on a single date and for a single Interest Period. Borrowings are classified for purposes of this Agreement by reference to the pricing of Loans
comprising such Borrowing (e.g., a “Euro-Dollar Borrowing” is a Borrowing comprised of Euro Dollar Loans). 
  
 ARTICLE 2 
 THE
CREDITS 
  
 Section 2.01. Commitments to Lend.
(a) Revolving Credit Loans. During its Revolving Credit Period, each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this subsection from time to time in amounts
such that the aggregate principal amount of Revolving Credit Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this subsection shall be in an aggregate principal amount of $10,000,000
or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments in
effect on the date of Borrowing; provided that, if the Interest Period selected by the Borrower for a Borrowing would otherwise end after the Commitment Termination Dates of some but not all Banks, the Borrower may in its Notice of Borrowing
elect not to borrow from those Banks whose Commitment Termination Dates fall prior to the end of such Interest Period. Within the foregoing limits, the Borrower may borrow under this subsection (a), or to the extent permitted by Section 2.11, prepay
Loans and reborrow at any time during the Revolving Credit Periods under this subsection (a). 
  
 (b) Term Loans. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make a loan to the Borrower on its Commitment Termination Date in an amount up to but not exceeding the
amount of its Commitment; provided that no Bank shall be obligated to make a loan pursuant to this subsection if any Commitment is extended on such date pursuant to Section 2.01(c). Each Borrowing under this Section 2.01(b) shall be made from
the several Banks having the same Commitment Termination Date ratably in proportion to their respective Commitments. 
  
 (c) Extension of Commitments. The Borrower may, upon not less than 45 days but no earlier than 60 days notice prior to the then current Commitment
Termination Dates to the Administrative Agent (which shall notify each Bank of receipt of such request), propose to extend the Commitment Termination Dates for an additional one-year period measured from the Commitment Termination Dates then in
effect. Each Bank shall endeavor to respond to such request, whether affirmatively or negatively (such determination in the sole discretion of such Bank), by notice to the Borrower and the Administrative Agent not more than 45 days nor less than 28
days prior to such Bank’s Commitment Termination 

  

 10 

 
Date. Subject to the execution by the Borrower, the Administrative Agent and such Banks of a duly completed Extension Agreement in substantially the form of
Exhibit E, the Commitment Termination Date applicable to the Commitment of each Bank so affirmatively notifying the Borrower and the Administrative Agent shall be extended for the period specified above; provided that no Commitment
Termination Date of any Bank shall be extended unless Banks having Commitments in an aggregate amount equal to at least 66 2/3% in aggregate amount of the Commitments in effect at the time any such extension is requested shall have elected so to
extend their Commitments. Any Bank which does not give such notice to the Borrower and the Administrative Agent shall be deemed to have elected not to extend as requested, and the Commitment of each non-extending Bank shall terminate on its
Commitment Termination Date determined without giving effect to such requested extension. The Borrower may, in accordance with Section 8.06, designate another bank or other financial institution (which may be, but need not be, an extending Bank) to
replace a non-extending Bank. 
  
 Section 2.02. Notice of
Borrowings. The Borrower shall give the Administrative Agent notice (a “Notice of Borrowing”) not later than 11:00 A.M. (New York City time) on (x) the date of each Base Rate Borrowing and (y) the third Euro-Dollar Business Day
before each Euro-Dollar Borrowing, specifying: 
  
 (a) the date of
such Borrowing, which shall be a Domestic Business Day in the case of a Domestic Borrowing or a Euro-Dollar Business Day in the case of a Euro-Dollar Borrowing; 
  

(b) the aggregate amount of such Borrowing; 
  
 (c) whether the Loans comprising such Borrowing are to bear interest initially at the Base Rate or a Euro-Dollar Rate; and 
  
 (d) in the case of a Euro-Dollar Borrowing, the duration of the initial
Interest Period applicable thereto, subject to the provisions of the definition of Interest Period. 
  
 Section 2.03. Notice to Banks; Funding of Loans. (a) Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly notify
each Bank of the contents thereof and of such Bank’s share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the Borrower. 
  
 (b) Not later than 1:00 P.M. (New York City time) on the date of each Borrowing, each Bank participating therein shall
(except as provided in subsection (c) of this Section) make available its share of such Borrowing, in Federal or other funds immediately available in New York City, to the Administrative Agent at its address specified in or pursuant to Section 9.01.
Unless the Administrative Agent determines that any applicable condition specified in Article 3 has not been satisfied, the Administrative Agent will make 

  

 11 

 
the funds so received from the Banks available to the Borrower at the Administrative Agent’s aforesaid address. 
  
 (c) Unless the Administrative Agent shall have received notice from a Bank
prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative
Agent on the date of such Borrowing in accordance with subsection (b) of this Section 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent
that such Bank shall not have so made such share available to the Administrative Agent, such Bank and, if such Bank shall not have made such payment within two Domestic Business Days of demand therefor, the Borrower severally agree to repay to the
Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in
the case of the Borrower, a rate per annum equal to the higher of the Federal Funds Rate and the interest rate applicable thereto pursuant to Section 2.06 and (ii) in the case of such Bank, the Federal Funds Rate. If such Bank shall repay to the
Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank’s Loan included in such Borrowing for purposes of this Agreement. 
  
 (d) The failure of any Bank to make the Loan to be made by it as part of any Borrowing shall not relieve any other Bank of
its obligation, if any, hereunder to make a Loan on the date of such Borrowing, but no Bank shall be responsible for the failure of any other Bank to make a Loan to be made by such other Bank. 
  
 Section 2.04. Registry; Notes. (a) The Administrative Agent
shall maintain a register (the “Register”) on which it will record the Commitment of each Bank, each Loan made by such Bank and each repayment of any Loan made by such Bank. Any such recordation by the Administrative Agent on the
Register shall be conclusive, absent manifest error. Failure to make any such recordation, or any error in such recordation, shall not affect the Borrower’s obligations hereunder. 
  
 (b) The Borrower hereby agrees that, promptly upon the request of any Bank at any time, the Borrower shall deliver to such
Bank a duly executed Note, in substantially the form of Exhibit A hereto, payable to the order of such Bank and representing the obligation of the Borrower to pay the unpaid principal amount of the Loans made to the Borrower by such Bank, with
interest as provided herein on the unpaid principal amount from time to time outstanding. 
  
 (c) Each Bank shall record the date, amount and maturity of each Loan made by it and the date and amount of each payment of principal made by the Borrower with respect thereto, and each Bank receiving a Note pursuant
to this 

  

 12 

 
Section, if such Bank so elects in connection with any transfer or enforcement of its Note, may endorse on the schedule forming a part thereof appropriate
notations to evidence the foregoing information with respect to each such Loan then outstanding; provided that the failure of such Bank to make any such recordation or endorsement shall not affect the obligations of the Borrower hereunder or
under the Notes. Such Bank is hereby irrevocably authorized by the Borrower so to endorse its Note and to attach to and make a part of its Note a continuation of any such schedule as and when required. 
  
 Section 2.05. Maturity of Loans. (a) Each Revolving Credit Loan
made by any Bank shall mature, and the principal amount thereof shall be due and payable together with accrued interest thereon, on the Commitment Termination Date of such Bank. 
  
 (b) The Term Loan of each Bank shall mature, and the principal amount thereof shall be due and payable, together with
accrued interest thereon, on the Final Maturity Date. 
  
 Section
2.06. Interest Rates. (a) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof, for each day from the date such Loan is made until it becomes due, at a rate per annum equal to the Base Rate for such day.
Such interest shall be payable quarterly in arrears on each Quarterly Payment Date, at maturity and on the date of termination of the Commitments in their entirety. Any overdue principal of or overdue interest on any Base Rate Loan shall bear
interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 1% plus the Base Rate for such day. 
  
 (b) Each Euro-Dollar Loan shall bear interest on the outstanding principal amount thereof, for each day during each Interest Period applicable thereto, at
a rate per annum equal to the sum of the Euro-Dollar Margin for such day plus the London Interbank Offered Rate applicable to such Interest Period. Such interest shall be payable for each Interest Period on the last day thereof and, if such Interest
Period is longer than three months, at intervals of three months after the first day thereof. 
  
 The “London Interbank Offered Rate” applicable to any Interest Period means the rate appearing on Page 3750 of the Telerate Service Company (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 the Telerate Service, as may be nominated by the British Bankers’ Association for purposes of providing quotations
of interest rates applicable to dollar deposits in the London interbank market) as of 11:00 A.M. (London time) two Euro-Dollar 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 so available at such time for any reason, then the “London Interbank Offered Rate” for such Interest Period shall be the average (rounded upward, if necessary,
to the next higher 1/16 of 1%) 

  

 13 

 
of the respective rates per annum at which deposits in dollars are offered to each of the Euro-Dollar Reference Banks in the London interbank market at
approximately 11:00 A.M. (London time) two Euro-Dollar Business Days before the first day of such Interest Period in an amount approximately equal to the principal amount of the Loan of such Euro-Dollar Reference Bank to which such Interest Period
is to apply and for a period of time comparable to such Interest Period. If any Euro-Dollar Reference Bank does not furnish a timely quotation, the Administrative Agent shall determine the relevant interest rate on the basis of the quotation
furnished by the remaining Euro-Dollar Reference Bank or, if none of such quotations is available on a timely basis, the provisions of Section 8.01 shall apply. 
  

(c) Any overdue principal of or overdue interest on any Euro-Dollar Loan shall bear interest, payable on demand, for each day from and including the
date payment thereof was due to but excluding the date of actual payment, at a rate per annum equal to the sum of 1% plus the higher of (i) the sum of the Euro-Dollar Margin for such day plus the London Interbank Offered Rate applicable to such Loan
at the date such payment was due and (ii) the Base Rate for such day. 
  
 (d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder. The Administrative Agent shall give prompt notice to the Borrower and the participating Banks by telecopy, telex or cable of each rate of
interest so determined, and its determination thereof shall be conclusive in the absence of manifest error unless the Borrower raises an objection thereto within five Domestic Business Days after receipt of such notice. 
  
 Section 2.07. Fees. (a) Facility Fee. The Borrower shall pay to
the Administrative Agent for the account of each Bank a facility fee at the Facility Fee Rate (determined daily in accordance with the Pricing Schedule). Such facility fee shall accrue (i) from and including the Effective Date to but excluding such
Bank’s Commitment Termination Date, on the daily average aggregate amount of such Bank’s Commitment (whether used or unused) and (ii) from and including such Bank’s Commitment Termination Date to but excluding the date such
Bank’s Loans shall be repaid in their entirety, on the daily average aggregate outstanding principal amount of such Bank’s Loans. 
  
 (b) Payments. Accrued fees under this Section for the account of any Bank shall be payable quarterly in arrears on each Quarterly Payment Date and
upon such Bank’s Commitment Termination Date and Final Maturity Date (and, if later, the date the Loans of such Bank shall be repaid in their entirety). 
  
 Section 2.08. Optional Termination or Reduction of Commitments. The Borrower may, upon at least three Domestic Business Days’ notice to the
Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time, or (ii) ratably reduce from time to time by an aggregate amount of $10,000,000 or any larger multiple of $1,000,000 the aggregate amount

  

 14 

 
of the Commitments in excess of the aggregate outstanding principal amount of the Loans. 
  
 Section 2.09. Method of Electing Interest Rates. (a) The Loans included in each Borrowing shall bear interest
initially at the type of rate specified by the Borrower in the applicable Notice of Borrowing. Thereafter, the Borrower may from time to time elect to change or continue the type of interest rate borne by each Group of Loans (subject in each case to
the provisions of Article 8 and the last sentence of this subsection (a)), as follows: 
  
 (i) if such Loans are Base Rate Loans, the Borrower may elect to convert such Loans to Euro-Dollar Loans as of any Euro-Dollar Business
Day; and 
  
 (ii) if such Loans are Euro-Dollar
Loans, the Borrower may elect to convert such Loans to Base Rate Loans or elect to continue such Loans as Euro-Dollar Loans for an additional Interest Period, subject to Section 2.13 in the case of any such conversion or continuation effective on
any day other than the last day of the then current Interest Period applicable to such Loans. 
  
 Each such election shall be made by delivering a notice (a “Notice of Interest Rate Election”) to the Administrative Agent not later than 11:00 A.M. (New York City time) on the third Euro-Dollar
Business Day before the conversion or continuation selected in such notice is to be effective. A Notice of Interest Rate Election may, if it so specifies, apply to only a portion of the aggregate principal amount of the relevant Group of Loans;
provided that (i) such portion is allocated ratably among the Loans comprising such Group and (ii) the portion to which such notice applies, and the remaining portion to which it does not apply, are each $10,000,000 or any larger multiple of
$1,000,000. 
  
 (b) Each Notice of Interest Rate Election shall
specify: 
  
 (i) the Group of Loans (or portion
thereof) to which such notice applies; 
  
 (ii)
the date on which the conversion or continuation selected in such notice is to be effective, which shall comply with the applicable clause of subsection 2.09(a) above; 
  
 (iii) if the Loans comprising such Group are to be converted, the new type of Loans and, if the Loans being
converted are to be Euro-Dollar Loans, the duration of the next succeeding Interest Period applicable thereto; and 
  

 15 

 (iv) if such Loans are to be continued as Euro-Dollar Loans for an additional Interest
Period, the duration of such additional Interest Period. 
  
 Each Interest Period
specified in a Notice of Interest Rate Election shall comply with the provisions of the definition of the term “Interest Period”. 
  
 (c) Promptly after receiving a Notice of Interest Rate Election from the Borrower pursuant to subsection 2.09(a) above, the Administrative Agent shall
notify each Bank of the contents thereof and such notice shall not thereafter be revocable by the Borrower. If no Notice of Interest Rate Election is timely received prior to the end of an Interest Period for any Group of Loans, the Borrower shall
be deemed to have elected that such Group of Loans be converted to Base Rate Loans as of the last day of such Interest Period. 
  
 (d) An election by the Borrower to change or continue the rate of interest applicable to any Group of Loans pursuant to this Section shall not constitute
a “Borrowing” subject to the provisions of Section 3.02. 
  
 Section 2.10. Mandatory Termination of Commitments. The Commitment of each Bank shall terminate on such Bank’s Commitment Termination Date, and any Revolving Credit Loans of such Bank then outstanding
(together with accrued interest thereon) shall be due and payable on such date. 
  
 Section 2.11. Optional Prepayments. (a) The Borrower may (i) upon notice to the Administrative Agent not later than 11:00 A.M. (New York City time) on any Domestic Business Day prepay on such Domestic
Business Day any Group of Base Rate Loans and (ii) upon at least three Euro-Dollar Business Days’ notice to the Administrative Agent not later than 11:00 A.M. (New York City time) prepay any Group of Euro-Dollar Loans, in each case in whole at
any time, or from time to time in part in amounts aggregating $5,000,000 or any larger multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment and together with any
additional amounts payable pursuant to Section 2.13. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Banks included in such Group or Borrowing. 
  
 (b) Upon receipt of a notice of prepayment pursuant to this Section, the Administrative Agent shall promptly notify each
Bank of the contents thereof and of such Bank’s share (if any) of such prepayment and such notice shall not thereafter be revocable by the Borrower. 
  
 Section 2.12. General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, the Loans and of
fees hereunder, not later than 1:00 P.M. (New York City time) on the date when due, in Federal or other funds immediately available in New York City, to the Administrative Agent at its address referred to in Section 9.01 and without 

  

 16 

 
reduction by reason of any set-off, counterclaim or deduction of any kind. The Administrative Agent will promptly distribute to each Bank in like funds its
ratable share of each such payment received by the Administrative Agent for the account of the Banks. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day,
the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for
payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day.
If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time. 
  
 (b) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Banks hereunder that
the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, cause
to be distributed to each Bank on such due date an amount equal to the amount then due such Bank. If and to the extent that the Borrower shall not have so made such payment, each Bank shall repay to the Administrative Agent forthwith on demand such
amount distributed to such Bank together with interest thereon, for each day from the date such amount is distributed to such Bank until the date such Bank repays such amount to the Administrative Agent, at the Federal Funds Rate. 
  
 Section 2.13. Funding Losses. If the Borrower makes any payment of
principal with respect to any Euro-Dollar Loan or any Euro-Dollar Loan is converted to a Base Rate Loan or continued as a Euro-Dollar Loan for a new Interest Period (pursuant to Article 2, 6 or 8 or otherwise) on any day other than the last day of
an Interest Period applicable thereto, or if the Borrower fails to borrow, prepay, convert or continue any Euro-Dollar Loans after notice has been given to any Bank in accordance with Section 2.03(a), 2.09(c) or 2.11(b), the Borrower shall reimburse
each Bank within 15 days after demand for any resulting loss or expense incurred by it (or by an existing or prospective Participant in the related Loan), including (without limitation) any loss incurred in obtaining, liquidating or employing
deposits from third parties, but excluding loss of margin for the period after any such payment or conversion or failure to borrow, prepay, convert or continue; provided that such Bank shall have delivered to the Borrower a certificate
setting forth in reasonable detail the calculation of the amount of such loss or expense, which certificate shall be conclusive in the absence of manifest error. 
  
 Section 2.14. Computation of Interest and Fees. Interest based on the Base Rate and facility fees hereunder shall be
computed on the basis of a year of 

  

 17 

 
365 days (or 366 days in a leap year) and paid for the actual number of days elapsed (including the first day but excluding the last day). All other interest
shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day). 
  
 Section 2.15. Regulation D Compensation. In the event that a Bank is required to maintain reserves of the type contemplated by the definition of
“Euro-Dollar Reserve Percentage”, such Bank may require the Borrower to pay, contemporaneously with each payment of interest on the Euro-Dollar Loans, additional interest on the related Euro-Dollar Loan of such Bank at a rate per
annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Dollar Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any
Bank wishing to require payment of such additional interest (x) shall so notify the Borrower and the Administrative Agent, in which case such additional interest on the Euro-Dollar Loans of such Bank shall be payable to such Bank at the place
indicated in such notice with respect to each Interest Period commencing at least three Euro-Dollar Business Days after the giving of such notice and (y) shall notify the Borrower at least three Euro-Dollar Business Days prior to each date on which
interest is payable on the Euro-Dollar Loans of the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrower may reasonably request. 
  
 “Euro-Dollar Reserve Percentage” means for any day that
percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement for a member bank of the Federal Reserve
System in New York City with deposits exceeding five billion dollars in respect of “Eurocurrency liabilities” (or in respect of any other category of liabilities which includes deposits by reference to which the interest rate on
Euro-Dollar Loans is determined or any category of extensions of credit or other assets which includes loans by a non-United States office of any Bank to United States residents). 
  
 ARTICLE 3 
 CONDITIONS 
  
 Section 3.01.
Effectiveness. This Agreement shall become effective on the date that each of the following conditions shall have been satisfied (or waived in accordance with Section 9.05): 
  
 (a) receipt by the Administrative Agent of counterparts hereof signed by each of the parties hereto (or, in the case of any
party as to which an executed counterpart shall not have been received, receipt by the Administrative Agent in form satisfactory to it of telegraphic, telecopy, telex or other written confirmation from such party of execution of a counterpart hereof
by such party); 
  

 18 

 (b) receipt by the Administrative Agent of (i) an opinion of an associate general counsel of the
Borrower, substantially in the form of Exhibit B-1 hereto and (ii) an opinion of Robinson, Bradshaw & Hinson, P.A., special counsel for the Borrower, substantially in the form of Exhibit B-2 hereto, and, in each case, covering such additional
matters relating to the transactions contemplated hereby as the Required Banks may reasonably request; 
  
 (c) receipt by the Administrative Agent of an opinion of Davis Polk & Wardwell, special counsel for the Agents, substantially in the form of Exhibit C
hereto and covering such additional matters relating to the transactions contemplated hereby as the Required Banks may reasonably request; 
  
 (d) receipt by the Administrative Agent of a certificate signed by a Vice President, the Treasurer, an Assistant Treasurer or the Controller of the
Borrower, dated the Effective Date, to the effect set forth in clauses (c) and (d) of Section 3.02; 
  
 (e) receipt by the Administrative Agent of all documents it may have reasonably requested prior to the date hereof relating to the existence of the
Borrower, the corporate authority for and the validity of this Agreement and the Notes, and any other matters relevant hereto, all in form and substance satisfactory to the Administrative Agent; 
  
 (f) receipt by the Administrative Agent of evidence satisfactory to it of the
payment of all principal of and interest on any loans outstanding under, and all accrued commitment fees under, the Existing Credit Agreement and the cancellation or the expiration of any letter of credit issued thereunder; and 
  
 (g) receipt by the Administrative Agent for the account of the Banks of
participation fees as heretofore mutually agreed by the Borrower and the Administrative Agent; 
  
 provided that this Agreement shall not become effective or be binding on any party hereto unless all of the foregoing conditions are satisfied not later than June 30, 2004. The Administrative Agent shall
promptly notify the Borrower and the Banks of the Effective Date, and such notice shall be conclusive and binding on all parties hereto. The Borrower and the Banks party to the Existing Credit Agreement, comprising the “Required Banks” as
defined therein, hereby agree that (i) the commitments of the lenders under the Existing Credit Agreement shall terminate in their entirety immediately and automatically upon the effectiveness of this Agreement, without further action by any party
to the Existing Credit Agreement, (ii) all accrued fees under the Existing Credit Agreement shall be due and payable at such time and (iii) subject to the funding loss indemnities in the Existing Credit Agreement, the Borrower may prepay any and all
loans outstanding thereunder on the date of effectiveness of this Agreement. 
  

 19 

 Section 3.02. Borrowings. The obligation of any Bank to make a Loan on the occasion of any
Borrowing is subject to the satisfaction of the following conditions: 
  
 (a) receipt by the Administrative Agent of a Notice of Borrowing as required by Section 2.02; 
  
 (b) the fact that, immediately after such Borrowing, the aggregate outstanding principal amount of the Loans will not exceed the aggregate amount of the
Commitments; 
  
 (c) the fact that, immediately after such
Borrowing, no Default shall have occurred and be continuing; and 
  
 (d) the fact that the representations and warranties of the Borrower contained in this Agreement (except the representations and warranties set forth in Sections 4.04(c) and 4.06) shall be true on and as of the date of such Borrowing.

  
 Each Borrowing hereunder shall be deemed to be a representation and warranty
by the Borrower on the date of such Borrowing as to the facts specified in clauses (b), (c) and (d) of this Section. 
  
 ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES

  
 The Borrower represents and warrants that: 
  
 Section 4.01. Organization and Power. The Borrower is duly organized,
validly existing and in good standing under the laws of North Carolina and has all requisite powers and all material governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted and is duly
qualified to do business in each jurisdiction where such qualification is required, except where the failure so to qualify would not have a material adverse effect on the business, financial position or results of operations of the Borrower and its
Consolidated Subsidiaries, considered as a whole. 
  
 Section
4.02. Corporate and Governmental Authorization; No Contravention. The execution, delivery and performance by the Borrower of this Agreement and the Notes are within the Borrower’s corporate powers, have been duly authorized by all
necessary corporate action, require no action by or in respect of, or filing with, any governmental body, agency or official (except for the approval of the obtaining of credit pursuant to this Agreement by the North Carolina Utilities Commission
and The Public Service Commission of South Carolina which shall have been obtained not later than the Effective Date) and do not contravene, or constitute a default under, any provision of applicable law or regulation or of the articles of
incorporation or by-laws of the Borrower or of any 

  

 20 

 
agreement, judgment, injunction, order, decree or other instrument binding upon the Borrower or result in the creation or imposition of any Lien on any asset
of the Borrower or any of its Material Subsidiaries. 
  
 Section
4.03. Binding Effect. This Agreement constitutes a valid and binding agreement of the Borrower and each Note, if and when executed and delivered in accordance with this Agreement, will constitute a valid and binding obligation of the
Borrower, in each case enforceable in accordance with its terms, except as the same may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and by general principles of equity. 
  
 Section 4.04. Financial Information. (a) The consolidated
balance sheet of the Borrower and its Consolidated Subsidiaries as of December 31, 2003 and the related consolidated statements of income, cash flows, capitalization and retained earnings for the fiscal year then ended, reported on by Deloitte &
Touche, copies of which have been delivered to each of the Banks by using the Borrower’s IntraLinks site, fairly present, in conformity with generally accepted accounting principles, the consolidated financial position of the Borrower and its
Consolidated Subsidiaries as of such date and their consolidated results of operations and cash flows for such fiscal year. 
  
 (b) The unaudited consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of March 31, 2004 and the related unaudited consolidated
statements of income and cash flows for the three months then ended, copies of which have been delivered to each of the Banks by using the Borrower’s IntraLinks site, fairly present, in conformity with generally accepted accounting principles
applied on a basis consistent with the financial statements referred to in subsection (a) of this Section, the consolidated financial position of the Borrower and its Consolidated Subsidiaries as of such date and their consolidated results of
operations and changes in financial position for such three-month period (subject to normal year-end adjustments and the absence of footnotes). 
  
 (c) Since December 31, 2003, there has been no material adverse change in the business, financial position or results of operations of the Borrower and
its Consolidated Subsidiaries, considered as a whole. 
  
 Section
4.05. Regulation U. The Borrower and its Material Subsidiaries are not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of Governors of
the Federal Reserve System) and no proceeds of any Borrowing by the Borrower will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock. Not more than 25% of the value
of the assets of the Borrower and its Material Subsidiaries is represented by margin stock. 
  

 21 

 Section 4.06. Litigation. Except as disclosed in the reports referred to in Section 4.04, there is
no action, suit or proceeding pending against, or to the knowledge of the Borrower threatened against or affecting, the Borrower or any of its Subsidiaries before any court or arbitrator or any governmental body, agency or official which would be
likely to be decided adversely to Borrower or such Subsidiary and, as a result, have a material adverse effect upon the business, consolidated financial position or results of operations of the Borrower and its Consolidated Subsidiaries, considered
as a whole, or which in any manner draws into question the validity of this Agreement or any Note. 
  
 Section 4.07. Compliance with Laws. The Borrower and each Material Subsidiary is in compliance in all material respects with all applicable laws,
ordinances, rules, regulations and requirements of governmental authorities (including, without limitation, ERISA and Environmental Laws) except where (i) non-compliance would not have a material adverse effect on the business, financial position or
results of operations of the Borrower and its Consolidated Subsidiaries, considered as a whole, or (ii) the necessity of compliance therewith is contested in good faith by appropriate proceedings. 
  
 Section 4.08. Taxes. The Borrower and its Material Subsidiaries have
filed all United States Federal income tax returns and all other material tax returns which are required to be filed by them and have paid all taxes due pursuant to such returns or pursuant to any assessment received by the Borrower or any Material
Subsidiary except (i) where nonpayment would not have a material adverse effect on the business, financial position or results of operations of the Borrower and its Consolidated Subsidiaries, considered as a whole, or (ii) where the same are
contested in good faith by appropriate proceedings. The charges, accruals and reserves on the books of the Borrower and its Material Subsidiaries in respect of taxes or other governmental charges are, in the opinion of the Borrower, adequate.

  
 Section 4.09. Public Utility Holding Company Act. The
Borrower is not a holding company subject to the registration requirements of the Public Utility Holding Company Act of 1935, as amended. 
  
 ARTICLE 5 
 COVENANTS 

 
 The Borrower agrees that, so long as any Bank has any Commitment hereunder
or any amount payable hereunder remains unpaid: 
  
 Section
5.01. Information. The Borrower will deliver to each of the Banks: 
  
 (a) as soon as available and in any event within 120 days after the end of each fiscal year of the Borrower, a consolidated balance sheet of the Borrower 

  

 22 

 
and its Consolidated Subsidiaries as of the end of such fiscal year and the related consolidated statements of income, cash flows, capitalization and
retained earnings for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on in a manner consistent with the requirements of the Securities and Exchange Commission by Deloitte &
Touche or other independent public accountants of nationally recognized standing; 
  
 (b) as soon as available and in any event within 60 days after the end of each of the first three quarters of each fiscal year of the Borrower, a consolidated balance sheet of the Borrower and its Consolidated
Subsidiaries as of the end of such quarter and the related consolidated statements of income and cash flows for such quarter and for the portion of the Borrower’s fiscal year ended at the end of such quarter, setting forth in each case in
comparative form the figures for the corresponding quarter and the corresponding portion of the Borrower’s previous fiscal year, all certified (subject to normal year-end adjustments) as to fairness of presentation, generally accepted
accounting principles and consistency by an Approved Officer of the Borrower; 
  
 (c) simultaneously with the delivery of each set of financial statements referred to in clauses (a) and (b) above, a certificate of an Approved Officer of the Borrower (i) setting forth in reasonable detail the
calculations required to establish whether the Borrower was in compliance with the requirements of Section 5.10 on the date of such financial statements and (ii) stating whether any Default exists on the date of such certificate and, if any Default
then exists, setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto; 
  
 (d) within five days after any officer of the Borrower with responsibility relating thereto obtains knowledge of any Default, if such Default is then
continuing, a certificate of an Approved Officer of the Borrower setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto; 
  
 (e) promptly upon the filing thereof, copies of all registration statements (other than the exhibits thereto and any
registration statements on Form S-8 or its equivalent) and reports on Forms 10-K, 10-Q and 8-K (or their equivalents) which the Borrower shall have filed with the Securities and Exchange Commission; 
  
 (f) if and when any member of the ERISA Group (i) gives or is required to
give notice to the PBGC of any “reportable event” (as defined in Section 4043 of ERISA) with respect to any Material Plan which might constitute grounds for a termination of such Plan under Title IV of ERISA, or knows that the plan
administrator of any Material Plan has given or is required to give notice of any such reportable event, a copy of the notice of such reportable event given or required to be given to the PBGC; (ii) receives notice of complete or partial withdrawal
liability under Title IV of ERISA or notice that any Material Plan is in reorganization, is insolvent or has been terminated, a copy of such notice; (iii) 

  

 23 

 
receives notice from the PBGC under Title IV of ERISA of an intent to terminate, impose material liability (other than for premiums under Section 4007 of
ERISA) in respect of, or appoint a trustee to administer any Plan, a copy of such notice; (iv) applies for a waiver of the minimum funding standard under Section 412 of the Internal Revenue Code, a copy of such application; (v) gives notice of
intent to terminate any Material Plan under Section 4041(c) of ERISA, a copy of such notice and other information filed with the PBGC; (vi) gives notice of withdrawal from any Material Plan pursuant to Section 4063 of ERISA, a copy of such notice;
or (vii) fails to make any payment or contribution to any Material Plan or makes any amendment to any Material Plan which has resulted or could result in the imposition of a Lien or the posting of a bond or other security, a certificate of the chief
financial officer or the chief accounting officer of the Borrower setting forth details as to such occurrence and action, if any, which the Borrower or applicable member of the ERISA Group is required or proposes to take; and 
  
 (g) from time to time such additional information regarding the financial
position or business of the Borrower and its Subsidiaries as the Administrative Agent, at the request of any Bank, may reasonably request. 
  
 Information required to be delivered pursuant to these Sections 5.01(a), 5.01(b) and 5.01(e) shall be deemed to have been delivered on the date on which
the Borrower provides notice to the Banks that such information has been posted on the Securities and Exchange Commission website on the Internet at sec.gov/edaux/searches.htm, on the Borrower’s IntraLinks site at intralinks.com or at another
website identified in such notice and accessible by the Banks without charge; provided that (i) such notice may be included in a certificate delivered pursuant to Section 5.01(c) and such notice or certificate shall also be deemed to have
been delivered upon being posted to the Borrower’s IntraLinks site and (ii) the Borrower shall deliver paper copies of the information referred to in Sections 5.01(a), 5.01(b) and 5.01(e) to any Bank which requests such delivery. 
  
 Section 5.02. Payment of Taxes. The Borrower will pay and discharge,
and will cause each Material Subsidiary to pay and discharge, at or before maturity, all their tax liabilities, except where (i) nonpayment would not have a material adverse effect on the business, financial position or results of operations of the
Borrower and its Consolidated Subsidiaries, considered as a whole, or (ii) the same may be contested in good faith by appropriate proceedings, and will maintain, and will cause each Material Subsidiary to maintain, in accordance with generally
accepted accounting principles, appropriate reserves for the accrual of any of the same. 
  
 Section 5.03. Maintenance of Property; Insurance. (a) The Borrower will keep, and will cause each Material Subsidiary to keep, all property useful and necessary in its business in good working order and
condition, ordinary wear and tear excepted. 
  

 24 

 (b) The Borrower will, and will cause each of its Material Subsidiaries to, maintain (either in the name
of the Borrower or in such Subsidiary’s own name) with financially sound and responsible insurance companies, insurance on all their respective properties in at least such amounts and against at least such risks (and with such risk retention)
as are usually insured against by companies of established repute engaged in the same or a similar business; provided that self-insurance by the Borrower or any such Material Subsidiary shall not be deemed a violation of this covenant to the
extent that companies engaged in similar businesses and owning similar properties self-insure; and will furnish to the Banks, upon request from the Administrative Agent, information presented in reasonable detail as to the insurance so carried.

  
 Section 5.04. Maintenance of Existence. The Borrower
will preserve, renew and keep in full force and effect, and will cause each Material Subsidiary to preserve, renew and keep in full force and effect their respective corporate or other legal existence and their respective rights, privileges and
franchises material to the normal conduct of their respective businesses; provided that nothing in this Section 5.04 shall prohibit the termination of any right, privilege or franchise of the Borrower or any Material Subsidiary or of the
corporate or other legal existence of any Material Subsidiary or the change in form of organization of the Borrower or any Material Subsidiary if the Borrower in good faith determines that such termination or change is in the best interest of the
Borrower, is not materially disadvantageous to the Banks and, in the case of a change in the form of organization of the Borrower, the Administrative Agent has consented thereto. 
  
 Section 5.05. Compliance with Laws. The Borrower will comply, and cause each Material Subsidiary to comply, in all
material respects with all applicable laws, ordinances, rules, regulations, and requirements of governmental authorities (including, without limitation, ERISA and Environmental Laws) except where (i) noncompliance would not have a material adverse
effect on the business, financial position or results of operations of the Borrower and its Consolidated Subsidiaries, considered as a whole, or (ii) the necessity of compliance therewith is contested in good faith by appropriate proceedings.

  
 Section 5.06. Books and Records. The Borrower will
keep, and will cause each Material Subsidiary to keep, proper books of record and account in which full, true and correct entries shall be made of all financial transactions in relation to its business and activities in accordance with its customary
practices; and will permit, and will cause each Material Subsidiary to permit, representatives of any Bank at such Bank’s expense (accompanied by a representative of the Borrower, if the Borrower so desires) to visit any of their respective
properties, to examine any of their respective books and records and to discuss their respective affairs, finances and accounts with their respective officers, employees and independent public accountants, all upon such reasonable notice, at such
reasonable times and as often as may reasonably be desired. 
  

 25 

 Section 5.07. Negative Pledge. The Borrower will not create, assume or suffer to exist any Lien on
any asset now owned or hereafter acquired by it, except: 
  
 (a)
Liens granted by the Borrower existing on the date of this Agreement securing Indebtedness outstanding on the date of this Agreement in an aggregate principal amount not exceeding $100,000,000; 
  
 (b) the Lien of the Mortgage Indenture securing Indebtedness outstanding on
the date of this Agreement or issued hereafter; 
  
 (c) any Lien
on any asset of any Person existing at the time such Person is merged or consolidated with or into the Borrower and not created in contemplation of such event; 
  

(d) any Lien existing on any asset prior to the acquisition thereof by the Borrower and not created in contemplation of such acquisition; 

 
 (e) any Lien on any asset securing Indebtedness incurred or assumed for
the purpose of financing all or any part of the cost of acquiring such asset; provided that such Lien attaches to such asset concurrently with or within 180 days after the acquisition thereof; 
  
 (f) any Lien arising out of the refinancing, extension, renewal or refunding
of any Indebtedness secured by any Lien permitted by any of the foregoing clauses of this Section; provided that such Indebtedness is not increased and is not secured by any additional assets; 
  
 (g) Liens for taxes, assessments or other governmental charges or levies not
yet due or which are being contested in good faith by appropriate proceedings and with respect to which adequate reserves or other appropriate provisions are being maintained in accordance with generally accepted accounting principles; 

 
 (h) statutory Liens of landlords and Liens of carriers, warehousemen,
mechanics, materialmen and other Liens imposed by law, created in the ordinary course of business and for amounts not past due for more than 60 days or which are being contested in good faith by appropriate proceedings which are sufficient to
prevent imminent foreclosure of such Liens, are promptly instituted and diligently conducted and with respect to which adequate reserves or other appropriate provisions are being maintained in accordance with generally accepted accounting
principles; 
  
 (i) Liens incurred or deposits made in the
ordinary course of business (including, without limitation, surety bonds and appeal bonds) in connection with workers’ compensation, unemployment insurance and other types of social security benefits or to secure the performance of tenders,
bids, leases, contracts (other than for the repayment of Indebtedness), statutory obligations and other 

  

 26 

 
similar obligations or arising as a result of progress payments under government contracts; 
  
 (j) easements (including, without limitation, reciprocal easement agreements and utility agreements), rights-of-way,
covenants, consents, reservations, encroachments, variations and other restrictions, charges or encumbrances (whether or not recorded) affecting the use of real property; 
  
 (k) Liens with respect to judgments and attachments which do not result in an Event of Default; 
  
 (l) Liens, deposits or pledges to secure the performance of bids, tenders,
contracts (other than contracts for the payment of money), leases (permitted under the terms of this Agreement), public or statutory obligations, surety, stay, appeal, indemnity, performance or other obligations arising in the ordinary course of
business; 
  
 (m) other Liens including Liens imposed by
Environmental Laws arising in the ordinary course of its business which (i) do not secure Indebtedness, (ii) do not secure any obligation in an amount exceeding $100,000,000 at any time at which Investment Grade Status does not exist as to the
Borrower and (iii) do not in the aggregate materially detract from the value of its assets or materially impair the use thereof in the operation of its business; and 
  
 (n) Liens not otherwise permitted by the foregoing clauses of this Section securing obligations in an aggregate principal or
face amount at any date not to exceed $500,000,000. 
  
 Section
5.08. Consolidations, Mergers and Sales of Assets. The Borrower will not (i) consolidate or merge with or into any other Person or (ii) sell, lease or otherwise transfer, directly or indirectly, Substantial Assets to any Person (other than a
Subsidiary); provided that the Borrower may merge with another Person if the Borrower is the corporation surviving such merger and, after giving effect thereto, no Default shall have occurred and be continuing. 
  
 Section 5.09. Use of Proceeds. The proceeds of the Loans made under
this Agreement will be used by the Borrower for its general corporate purposes, including liquidity support for outstanding commercial paper and acquisitions. None of such proceeds will be used, directly or indirectly, for the purpose, whether
immediate, incidental or ultimate, of buying or carrying any “margin stock” within the meaning of Regulation U. 
  
 Section 5.10. Indebtedness/Capitalization Ratio. The ratio of Consolidated Indebtedness to Consolidated Capitalization will at no time exceed 65%.

  

 27 

 ARTICLE 6 
 DEFAULTS 
  
 Section 6.01. Events of Default. If one or more of the following events (“Events of Default”) shall have occurred and be continuing: 
  
 (a) the Borrower shall fail to pay when due any principal of any Loan or shall fail to pay, within five days of the due date
thereof, any interest, fees or any other amount payable hereunder; 
  
 (b) the Borrower shall fail to observe or perform any covenant contained in Sections 5.04, 5.07, 5.08, 5.10 or the second sentence of 5.09, inclusive; 
  

(c) the Borrower shall fail to observe or perform any covenant or agreement contained in this Agreement (other than those covered by clause (a) or (b)
above) for 30 days after notice thereof has been given to the Borrower by the Administrative Agent at the request of any Bank; 
  
 (d) any representation, warranty, certification or statement made by the Borrower in this Agreement or in any certificate, financial statement or other
document delivered pursuant to this Agreement shall prove to have been incorrect in any material respect when made (or deemed made); 
  
 (e) the Borrower or any Material Subsidiary shall fail to make any payment in respect of Material Debt (other than the Loans) when due or within any
applicable grace period; 
  
 (f) any event or condition shall
occur and shall continue beyond the applicable grace or cure period, if any, provided with respect thereto so as to result in the acceleration of the maturity of Material Debt; 
  
 (g) the Borrower or any Material Subsidiary shall commence a voluntary case or other proceeding seeking liquidation,
reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of
it or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment
for the benefit of creditors, or shall admit in writing its inability to, or shall fail generally to, pay its debts as they become due, or shall take any corporate action to authorize any of the foregoing; 
  
 (h) an involuntary case or other proceeding shall be commenced against the
Borrower or any Material Subsidiary seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or 

  

 28 

 
other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any
substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 90 days; or an order for relief shall be entered against the Borrower or any Material Subsidiary under the federal
bankruptcy laws as now or hereafter in effect; 
  
 (i) any member
of the ERISA Group shall fail to pay when due an amount or amounts aggregating in excess of $25,000,000 which it shall have become liable to pay to the PBGC or to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or Plans
having aggregate Unfunded Vested Liabilities in excess of $50,000,000 (collectively, a “Material Plan”) shall be filed under Title IV of ERISA by any member of the ERISA Group, any plan administrator or any combination of the
foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate or to cause a trustee to be appointed to administer any Material Plan or a proceeding shall be instituted by a fiduciary of any Material Plan against any member
of the ERISA Group to enforce Section 515 or 4219(c)(5) of ERISA and such proceeding shall not have been dismissed within 90 days thereafter; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating
that any Material Plan must be terminated; 
  
 (j) a judgment or
other court order for the payment of money in excess of $50,000,000 shall be rendered against the Borrower or any Material Subsidiary and such judgment or order shall continue without being vacated, discharged, satisfied or stayed or bonded pending
appeal for a period of 45 days; or 
  
 (k) any person or group of
persons (within the meaning of Section 13 or 14 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) other than trustees and participants in employee benefit plans of the Borrower and its Subsidiaries or the Endowment
or Trust, shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange Commission under the Exchange Act) of 50% or more of the outstanding shares of common stock of the Borrower; or, during
any period of twelve consecutive calendar months, individuals who were directors of the Borrower on the first day of such period (together with any successors nominated or appointed by such directors in the ordinary course) shall cease to constitute
a majority of the board of directors of the Borrower; 
  
 then, and in every such
event, the Administrative Agent shall (i) if requested by Banks having more than 66-2/3% in aggregate amount of the Commitments, by notice to the Borrower terminate the Commitments and they shall thereupon terminate and (ii) if requested by Banks
holding more than 66-2/3% in aggregate principal amount of the Loans, by notice to the Borrower declare the Loans (together with accrued interest thereon) to be, and the Loans shall thereupon become, immediately due and payable without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; 

  

 29 

 
provided that in the case of any of the Events of Default specified in clause (g) or (h) above with respect to the Borrower, without any notice to the
Borrower or any other act by the Administrative Agent or the Banks, the Commitments shall thereupon terminate and the Loans (together with accrued interest thereon) shall become immediately due and payable without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the Borrower. 
  
 Section 6.02. Notice of Default. The Administrative Agent shall give notice to the Borrower under Section 6.01(c) promptly upon being requested to do so by any Bank and shall thereupon notify all the Banks
thereof. 
  
 ARTICLE 7 
 THE ADMINISTRATIVE AGENT 
  
 Section 7.01. Appointment and Authorization. Each Bank irrevocably appoints and authorizes the Administrative Agent
to take such action as agent on its behalf and to exercise such powers under this Agreement and the Notes as are delegated to the Administrative Agent by the terms hereof or thereof, together with all such powers as are reasonably incidental
thereto. 
  
 Section 7.02. Administrative Agent and Affiliates.
Citicorp USA, Inc. shall have the same rights and powers under this Agreement as any other Bank and may exercise or refrain from exercising the same as though it were not the Administrative Agent, and Citicorp USA, Inc. 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 affiliate of the Borrower as if it were not the Administrative Agent hereunder. 
  
 Section 7.03. Action by Administrative Agent. The obligations of the
Administrative Agent hereunder are only those expressly set forth herein. Without limiting the generality of the foregoing, the Administrative Agent shall not be required to take any action with respect to any Default, except as expressly provided
in Article 6. 
  
 Section 7.04. Consultation with Experts.
The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good
faith in accordance with the advice of such counsel, accountants or experts. 
  
 Section 7.05. Liability of Administrative Agent. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents or employees shall be liable to any Bank for
any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Banks or (ii) in the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any of its
affiliates nor any of 

  

 30 

 
their respective directors, officers, agents or employees shall be responsible for or have any duty to ascertain, inquire into or verify (i) any statement,
warranty or representation made in connection with this Agreement or any borrowing hereunder; (ii) the performance or observance of any of the covenants or agreements of the Borrower; (iii) the satisfaction of any condition specified in Article 3,
except receipt of items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or genuineness of this Agreement, the Notes or any other instrument or writing furnished in connection herewith. The Administrative
Agent shall not incur any liability by acting in reliance upon any notice, consent, certificate, statement, or other writing (which may be a bank wire, telex or similar writing) believed by it in good faith to be genuine or to be signed by the
proper party or parties. Without limiting the generality of the foregoing, the use of the term “agent” in this Agreement with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom and is intended to create or reflect only an administrative relationship between independent contracting parties.

  
 Section 7.06. Indemnification. Each Bank shall, ratably
in accordance with its Commitment, indemnify the Administrative Agent, its affiliates and their respective directors, officers, agents and employees (to the extent not reimbursed by the Borrower) against any cost, expense (including counsel fees and
disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’ gross negligence or willful misconduct) that such indemnitees may suffer or incur in connection with this Agreement or any action taken or
omitted by such indemnitees thereunder. 
  
 Section 7.07.
Credit Decision. Each Bank acknowledges that it has, independently and without reliance upon any Agent or any other Bank, 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 Bank also acknowledges that it will, independently and without reliance upon any Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking any action under this Agreement. 
  
 Section 7.08. Successor Administrative Agent. The Administrative Agent may resign at any time by giving notice thereof to the Banks and the Borrower. Upon any such resignation, the Borrower, with the consent of
the Required Banks (such consent not to be unreasonably withheld or delayed), shall have the right to appoint a successor Administrative Agent. If no successor Administrative Agent shall have been so appointed, and shall have accepted such
appointment, within 30 days after the retiring Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which shall be a commercial bank organized
or licensed under the laws of the United States of America or of any State thereof 

  

 31 

 
and having a combined capital and surplus of at least $250,000,000. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor
Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder; provided that if such successor Administrative Agent is appointed without the consent of the Borrower, such successor Administrative Agent may be replaced by the Borrower with the consent of the Required Banks. After
any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Article shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent. 
  
 Section 7.09. Administrative Agent’s Fee. The Borrower shall pay
to the Administrative Agent for its own account fees in the amounts and at the times previously agreed upon between the Borrower and the Administrative Agent. 
  

Section 7.10. Other Agents. None of the Syndication Agent or the Documentation Agents, in their capacity as such, shall have any duties or
obligations of any kind under this Agreement. 
  
 ARTICLE 8

 CHANGE IN CIRCUMSTANCES 
  
 Section 8.01. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any
Interest Period for any Euro-Dollar Borrowing: 
  
 (a) the
Administrative Agent is advised by the Euro-Dollar Reference Banks that deposits in dollars (in the applicable amounts) are not being offered to the Euro-Dollar Reference Banks in the relevant market for such Interest Period, or 
  
 (b) Banks having 66-2/3% or more of the aggregate amount of the affected
Loans advise the Administrative Agent that the London Interbank Offered Rate as determined by the Administrative Agent will not adequately and fairly reflect the cost to such Banks of funding their Euro-Dollar Loans for such Interest Period,

  
 the Administrative Agent shall forthwith give notice thereof to the Borrower
and the Banks, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, (i) the obligations of the Banks to make Euro-Dollar Loans or to continue or convert outstanding
Loans as or into Euro-Dollar Loans shall be suspended and (ii) each outstanding Euro-Dollar Loan shall be converted into a Base Rate Loan on the last day of the then current Interest Period applicable thereto. Unless the Borrower 

  

 32 

 
notifies the Administrative Agent at least one Domestic Business Day before the date of any Euro-Dollar Borrowing for which a Notice of Borrowing has
previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing. 
  
 Section 8.02. Illegality. If on or after the date of this Agreement, the adoption of any applicable law, rule or regulation, or any change in any
applicable law, rule or regulation, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank
(or its Euro-Dollar Lending Office) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for any Bank (or its Euro-Dollar Lending Office)
to make, maintain or fund any of its Euro-Dollar Loans and such Bank shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Banks and the Borrower, whereupon until such Bank notifies the
Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Bank to make Euro-Dollar Loans, or to continue or convert outstanding Loans as or into Euro-Dollar Loans, shall be
suspended. Before giving any notice to the Administrative Agent pursuant to this Section, such Bank shall designate a different Euro-Dollar Lending Office if such designation will avoid the need for giving such notice and will not be otherwise
disadvantageous to such Bank in the good faith exercise of its discretion. If such notice is given, each Euro-Dollar Loan of such Bank then outstanding shall be converted to a Base Rate Loan either (a) on the last day of the then current Interest
Period applicable to such Euro-Dollar Loan if such Bank may lawfully continue to maintain and fund such Loan to such day or (b) immediately if such Bank shall determine that it may not lawfully continue to maintain and fund such Loan to such day.

  
 Section 8.03. Increased Cost and Reduced Return. (a) If
on or after the date of this Agreement, the adoption of any applicable law, rule or regulation, or any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by any governmental authority,
central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of law) issued on or after such
date of any such authority, central bank or comparable agency shall impose, modify or deem applicable any reserve, special deposit or similar requirement (including, without limitation, any such requirement imposed by the Board of Governors of the
Federal Reserve System, but excluding with respect to any Euro-Dollar Loan any such requirement included in an applicable Euro-Dollar Reserve Percentage) against assets of, deposits with or for the account of, or credit extended by, any Bank (or its
Applicable Lending Office) or shall impose on any Bank (or its Applicable Lending Office) or on the London interbank market any other condition (other than in respect of Taxes or Other Taxes) 

  

 33 

 
affecting its Euro-Dollar Loans, its Note or its obligation to make Euro-Dollar Loans and the result of any of the foregoing is to increase the cost to such
Bank (or its Applicable Lending Office) of making or maintaining any Euro-Dollar Loan, or to reduce the amount of any sum received or receivable by such Bank (or its Applicable Lending Office) under this Agreement or under its Note with respect
thereto, by an amount deemed by such Bank to be material, then, within 15 days after demand by such Bank (with a copy to the Administrative Agent), the Borrower shall pay to such Bank such additional amount or amounts as will compensate such Bank
for such increased cost or reduction; provided that no such amount shall be payable with respect to any period commencing more than 90 days prior to the date such Bank first notifies the Borrower of its intention to demand compensation
therefor under this Section 8.03(a). 
  
 (b) If any Bank shall
have determined that, on or after the date of this Agreement, the adoption of any applicable law, rule or regulation regarding capital adequacy, or any change in any such law, rule or regulation, or any change in the interpretation or administration
thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such
authority, central bank or comparable agency given or made after the date of this Agreement, has or would have the effect of reducing the rate of return on capital of such Bank (or its Parent) as a consequence of such Bank’s obligations
hereunder to a level below that which such Bank (or its Parent) could have achieved but for such adoption, change, request or directive (taking into consideration its policies with respect to capital adequacy) by an amount deemed by such Bank to be
material, then from time to time, within 15 days after demand by such Bank (with a copy to the Administrative Agent), the Borrower shall pay to such Bank such additional amount or amounts as will compensate such Bank (or its Parent) for such
reduction; provided that no such amount shall be payable with respect to any period commencing less than 30 days after the date such Bank first notifies the Borrower of its intention to demand compensation under this Section 8.03(b).

  
 (c) Each Bank will promptly notify the Borrower and the
Administrative Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Bank to compensation pursuant to this Section and will designate a different Applicable Lending Office if such designation will
avoid the need for, or reduce the amount of, such compensation and will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. A certificate of any Bank claiming compensation under this Section and setting forth the additional
amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods. 
  

 34 

 Section 8.04. Taxes. (a) For purposes of this Section 8.04, the following terms have the
following meanings: 
  
 “Taxes” means any and all
present or future taxes, duties, levies, imposts, deductions, charges or withholdings with respect to any payment by the Borrower pursuant to this Agreement or any Note, and all liabilities with respect thereto, excluding (i) in the case of
each Bank and the Administrative Agent, taxes imposed on its income, net worth or gross receipts and franchise or similar taxes imposed on it by a jurisdiction under the laws of which such Bank or the Administrative Agent (as the case may be) is
organized or in which its principal executive office is located or, in the case of each Bank, in which its Applicable Lending Office is located and (ii) in the case of each Bank, any United States withholding tax imposed on such payments except to
the extent that such Bank is subject to United States withholding tax by reason of a U.S. Tax Law Change. 
  
 “Other Taxes” means any present or future stamp or documentary taxes and any other excise or property taxes, or similar charges or
levies, which arise from any payment made pursuant to this Agreement or under any Note or from the execution or delivery of, or otherwise with respect to, this Agreement or any Note. 
  
 “U.S. Tax Law Change” means with respect to any Bank or Participant the occurrence (x) in the case of each
Bank listed on the signature pages hereof, after the date of its execution and delivery of this Agreement and (y) in the case of any other Bank, after the date such Bank shall have become a Bank hereunder, and (z) in the case of each Participant,
after the date such Participant became a Participant hereunder, of the adoption of any applicable U.S. federal law, U.S. federal rule or U.S. federal regulation relating to taxation, or any change therein, or the entry into force, modification or
revocation of any income tax convention or treaty to which the United States is a party. 
  
 (b) Any and all payments by the Borrower to or for the account of any Bank or the Administrative Agent hereunder or under any Note shall be made without deduction for any Taxes or Other Taxes; provided that, if
the Borrower shall be required by law to deduct any Taxes or Other Taxes from any such payments, (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 8.04) such Bank or the Administrative Agent (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, (iii) the Borrower
shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law and (iv) the Borrower shall furnish to the Administrative Agent, at its address referred to in Section 9.01, the original or a
certified copy of a receipt evidencing payment thereof. 
  
 (c)
The Borrower agrees to indemnify each Bank and the Administrative Agent for the full amount of Taxes or Other Taxes (including, without limitation, any Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this
Section 8.04) paid by such Bank or the Administrative Agent (as the case may be) and any liability (including penalties, 

  

 35 

 
interest and expenses) arising therefrom or with respect thereto. This indemnification shall be paid within 15 days after such Bank or the Administrative
Agent (as the case may be) makes demand therefor. 
  
 (d) Each
Bank organized under the laws of a jurisdiction outside the United States, on or prior to the date of its execution and delivery of this Agreement in the case of each Bank listed on the signature pages hereof and on or prior to the date on which it
becomes a Bank in the case of each other Bank, and from time to time thereafter as required by law (but only so long as such Bank remains lawfully able to do so), shall provide the Borrower two completed and duly executed copies of Internal Revenue
Service form W-8BEN or W-8ECI, as appropriate, or any successor form prescribed by the Internal Revenue Service, or other documentation reasonably requested by the Borrower, certifying that such Bank is entitled to benefits under an income tax
treaty to which the United States is a party which exempts the Bank from United States withholding tax or reduces the rate of withholding tax on payments of interest for the account of such Bank or certifying that the income receivable pursuant to
this Agreement is effectively connected with the conduct of a trade or business in the United States. 
  
 (e) For any period with respect to which a Bank has failed to provide the Borrower with the appropriate form pursuant to Section 8.04(d) (unless such
failure is due to a U.S. Tax Law Change), such Bank shall not be entitled to indemnification under Section 8.04(b) or 8.04(c) with respect to any Taxes or Other Taxes which would not have been payable had such form been so provided; provided
that if a Bank, which is otherwise exempt from or subject to a reduced rate of withholding tax, becomes subject to Taxes because of its failure to deliver a form required hereunder, the Borrower shall take such steps as such Bank shall reasonably
request to assist such Bank to recover such Taxes (it being understood, however, that the Borrower shall have no liability to such Bank in respect of such Taxes). 
  
 (f) If the Borrower is required to pay additional amounts to or for the account of any Bank pursuant to this Section 8.04,
then such Bank will take such action (including changing the jurisdiction of its Applicable Lending Office) as in the good faith judgment of such Bank (i) will eliminate or reduce any such additional payment which may thereafter accrue and (ii) is
not otherwise disadvantageous to such Bank. 
  
 (g) If any Bank or
the Administrative Agent receives a refund (including a refund in the form of a credit against taxes that are otherwise payable by the Bank or the Administrative Agent) of any Taxes or Other Taxes for which the Borrower has made a payment under
Section 8.04(b) or (c) and such refund was received from the taxing authority which originally imposed such Taxes or Other Taxes, such Bank or the Administrative Agent agrees to reimburse the Borrower to the extent of such refund; provided
that nothing contained in this paragraph (g) shall require any Bank or the Administrative Agent to seek any 

  

 36 

 
such refund or make available its tax returns (or any other information relating to its taxes which it deems to be confidential). 
  
 Section 8.05. Base Rate Loans Substituted for Affected Euro-Dollar Loans.
If (i) the obligation of any Bank to make or to continue or convert outstanding Loans as or into Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03(a) or 8.04 with respect
to its Euro-Dollar Loans and the Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and
until such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: 
  
 (a) all Loans which would otherwise be made by such Bank as (or continued as or converted to) Euro-Dollar Loans, as the case may be, shall instead be Base
Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Banks), and 
  
 (b) after each of its Euro-Dollar Loans has been repaid, all payments of principal which would otherwise be applied to repay such Loans shall be applied
to repay its Base Rate Loans instead. 
  
 If such Bank notifies the Borrower that
the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period
applicable to the related Euro-Dollar Loans of the other Banks. 
  
 Section 8.06. Substitution of Bank; Termination Option. If (i) the obligation of any Bank to make or to convert or continue outstanding Loans as or into Euro-Dollar Loans has been suspended pursuant to Section 8.02, (ii) any Bank has
demanded compensation under Section 8.03 or 8.04, (iii) any Bank exercises its right not to extend its Commitment Termination Date pursuant to Section 2.01(c) or (iv) Investment Grade Status ceases to exist as to any Bank, then: 
  
 (a) the Borrower shall have the right, with the assistance of the
Administrative Agent, to designate a substitute bank or banks (which may be one or more of the Banks) mutually satisfactory to the Borrower and the Administrative Agent (whose consent shall not be unreasonably withheld or delayed) to purchase for
cash, pursuant to an Assignment and Assumption Agreement in substantially the form of Exhibit D hereto, the outstanding Loans of such Bank and assume the Commitment of such Bank, without recourse to or warranty by, or expense to, such Bank, for a
purchase price equal to the principal amount of all of such Bank’s outstanding Loans plus any accrued but unpaid interest thereon and the accrued but unpaid fees in respect of such Bank’s 

  

 37 

 
Commitment hereunder and all other amounts payable by the Borrower to such Bank hereunder plus such amount, if any, as would be payable pursuant to Section
2.13 if the outstanding Loans of such Bank were prepaid in their entirety on the date of consummation of such assignment; and 
  
 (b) if at the time Investment Grade Status exists as to the Borrower, the Borrower may elect to terminate this Agreement as to such Bank; provided
that (i) the Borrower notifies such Bank through the Administrative Agent of such election at least three Euro-Dollar Business Days before the effective date of such termination and (ii) the Borrower repays or prepays the principal amount of all
outstanding Loans made by such Bank plus any accrued but unpaid interest thereon and the accrued but unpaid fees in respect of such Bank’s Commitment hereunder plus all other amounts payable by the Borrower to such Bank hereunder, not later
than the effective date of such termination. Upon satisfaction of the foregoing conditions, the Commitment of such Bank shall terminate on the effective date specified in such notice. 
  
 ARTICLE 9 
 MISCELLANEOUS 
  
 Section 9.01.
Notices. All notices, requests and other communications to any party hereunder shall be in writing (including bank wire, telex, facsimile transmission or similar writing) and shall be given to such party: (x) in the case of the Borrower or the
Administrative Agent, at its address or telecopy or telex number set forth on the signature pages hereof, (y) in the case of any Bank, at its address or telecopy or telex number set forth in its Administrative Questionnaire or (z) in the case of any
party, such other address or telecopy or telex number as such party may hereafter specify for the purpose by notice to the Administrative Agent and the Borrower. Each such notice, request or other communication shall be effective (i) if given by
telecopy or telex, when such telecopy or telex is transmitted to the telecopy or telex number specified in this Section and the appropriate answerback or confirmation slip, as the case may be, is received or (ii) if given by any other means, when
delivered at the address specified in this Section; provided that notices to the Administrative Agent under Article 2 or Article 3 shall not be effective until delivered. 
  
 Section 9.02. No Waivers. No failure or delay by the Administrative Agent or any Bank in exercising any right, power
or privilege hereunder or under any Note shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and
remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 
  
 Section 9.03. Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent,
including reasonable fees and disbursements of special counsel for the Agents, in 

  

 38 

 
connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default hereunder and
(ii) if an Event of Default occurs, all reasonable out-of-pocket expenses incurred by the Administrative Agent or any Bank, including reasonable fees and disbursements of counsel, in connection with such Event of Default and collection and other
enforcement proceedings resulting therefrom. 
  
 (b) The Borrower
agrees to indemnify each Agent and each Bank, their respective affiliates and the respective directors, officers, agents and employees of the foregoing (each an “Indemnitee”) and hold each Indemnitee harmless from and against any
and all liabilities, losses, damages, costs and expenses of any kind, including, without limitation, the reasonable fees and disbursements of counsel, which may be incurred by such Indemnitee in connection with any investigative, administrative or
judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of this Agreement or any actual or proposed use of proceeds of Loans hereunder; provided that no Indemnitee shall have the
right to be indemnified hereunder for such Indemnitee’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction. 
  
 Section 9.04. Sharing of Set-offs. Each Bank agrees that if it shall, by exercising any right of set-off or counterclaim or otherwise, receive
payment of a proportion of the aggregate amount then due with respect to the Loans held by it which is greater than the proportion received by any other Bank in respect of the aggregate amount then due with respect to the Loans held by such other
Bank, the Bank receiving such proportionately greater payment shall purchase such participations in the Loans held by the other Banks, and such other adjustments shall be made, as may be required so that all such payments with respect to the Loans
held by the Banks shall be shared by the Banks pro rata; provided that nothing in this Section shall impair the right of any Bank to exercise any right of set-off or counterclaim it may have and to apply the amount subject to such exercise to
the payment of indebtedness of the Borrower other than its indebtedness under this Agreement. 
  
 Section 9.05. Amendments and Waivers. Any provision of this Agreement or the Notes may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Borrower and the Required
Banks (and, if the rights or duties of any Agent are affected thereby, by such Person); provided that no such amendment or waiver shall, unless signed by all the Banks, (i) increase or decrease the Commitment of any Bank (except for a ratable
decrease in the Commitments of all Banks) or subject any Bank to any additional obligation, (ii) reduce the principal of or rate of interest on any Loan or any interest thereon or any fees hereunder, (iii) postpone the date fixed for any payment of
principal of or interest on any Loan or any fees hereunder or for termination of any Commitment, (iv) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Loans, or the number of Banks, which shall be required
for the Banks or any of them to take any action under this 

  

 39 

 
Section or any other provision of this Agreement or (v) change the provisions of Section 9.04. 
  
 Section 9.06. 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 and each Indemnitee, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all Banks.

  
 (b) Any Bank may, with the consent (unless an Event of Default
then exists) of the Borrower (such consent not to be unreasonably withheld or delayed), at any time grant to one or more banks or other institutions (each a “Participant”) participating interests in its Commitment or any or all of
its Loans; provided that any Bank may, without the consent of the Borrower, at any time grant participating interests in its Commitment or any or all of its Loans to another Bank, an Approved Fund or an Affiliate of such transferor Bank. In
the event of any such grant by a Bank of a participating interest to a Participant, whether or not upon notice to the Administrative Agent, such Bank shall remain responsible for the performance of its obligations hereunder, and the Borrower and the
Administrative Agent shall continue to deal solely and directly with such Bank in connection with such Bank’s rights and obligations under this Agreement. Any agreement pursuant to which any Bank may grant such a participating interest shall
provide that such Bank shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such participation agreement may provide that such Bank will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii) or (iii) of Section 9.05 without the consent of the Participant. The
Borrower agrees that each Participant shall, to the extent provided in its participation agreement, be entitled to the benefits of Article 8 with respect to its participating interest, subject to the performance by such Participant of the
obligations of a Bank thereunder. An assignment or other transfer which is not permitted by subsection (c) or (d) below shall be given effect for purposes of this Agreement only to the extent of a participating interest granted in accordance with
this subsection (b). 
  
 (c) Any Bank may at any time assign to
one or more banks or other financial institutions (each an “Assignee”) all, or a proportionate part (equivalent to an initial Commitment of not less than $10,000,000 (unless the Borrower and the Administrative Agent shall otherwise
agree)) of all, of its rights and obligations under this Agreement and its Note (if any), and such Assignee shall assume such rights and obligations, pursuant to an Assignment and Assumption Agreement in substantially the form of Exhibit D hereto
executed by such Assignee and such transferor Bank, with (and only with and subject to) the prior written consent of the Administrative Agent (which shall not be unreasonably withheld or delayed) and, so long as no Event of Default has occurred and
is continuing, the Borrower (which shall not be unreasonably withheld or delayed); 

  

 40 

 
provided that unless such assignment is of the entire right, title and interest of the transferor Bank hereunder, after making any such assignment
such transferor Bank shall have a Commitment of at least $10,000,000 (unless the Borrower and the Administrative Agent shall otherwise agree). Upon execution and delivery of such instrument of assumption and payment by such Assignee to such
transferor Bank of an amount equal to the purchase price agreed between such transferor Bank and such Assignee, such Assignee shall be a Bank party to this Agreement and shall have all the rights and obligations of a Bank with a Commitment as set
forth in such instrument of assumption, and the transferor Bank shall be released from its obligations hereunder to a corresponding extent, and no further consent or action by any party shall be required. Upon the consummation of any assignment
pursuant to this subsection (c), the transferor Bank, the Administrative Agent and the Borrower shall make appropriate arrangements so that, if required by the Assignee, a Note is issued to the Assignee. If the Assignee is not incorporated under the
laws of the United States of America or a state thereof, it shall, prior to the first date on which interest or fees are payable hereunder for its account, deliver to the Borrower and the Administrative Agent certification as to exemption from
deduction or withholding of any United States federal income taxes in accordance with Section 8.04. All assignments (other than assignments to Affiliates) shall be subject to a transaction fee established by, and payable by the transferor Bank to,
the Administrative Agent for its own account (which shall not exceed $5,000). 
  
 (d) Any Bank may at any time assign all or any portion of its rights under this Agreement and its Note (if any) to a Federal Reserve Bank. No such assignment shall release the transferor Bank from its obligations
hereunder or modify any such obligations. 
  
 (e) No Assignee,
Participant or other transferee of any Bank’s rights (including any Applicable Lending Office other than such Bank’s initial Applicable Lending Office) shall be entitled to receive any greater payment under Section 8.03 or 8.04 than such
Bank would have been entitled to receive with respect to the rights transferred, unless such transfer is made by reason of the provisions of Section 8.02, 8.03 or 8.04 requiring such Bank to designate a different Applicable Lending Office under
certain circumstances or at a time when the circumstances giving rise to such greater payment did not exist. 
  
 Section 9.07. Collateral. Each of the Banks represents to the Administrative Agent and each of the other Banks that it in good faith is not relying
upon any “margin stock” (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement. 
  
 Section 9.08. Confidentiality. Each Agent and each Bank agrees to keep any information delivered or made available by
the Borrower pursuant to this Agreement confidential from anyone other than persons employed or retained by such Bank and its affiliates who are engaged in evaluating, approving, structuring or administering the credit facility contemplated hereby;
provided that nothing 

  

 41 

 
herein shall prevent any Bank from disclosing such information (a) to any other Bank or any Agent, (b) to any other Person if reasonably incidental to the
administration of the credit facility contemplated hereby, (c) upon the order of any court or administrative agency, (d) upon the request or demand of any regulatory agency or authority, (e) which had been publicly disclosed other than as a result
of a disclosure by any Agent or any Bank prohibited by this Agreement, (f) in connection with any litigation to which any Agent, any Bank or its subsidiaries or Parent may be a party, (g) to the extent necessary in connection with the exercise of
any remedy hereunder, (h) to such Bank’s or any Agent’s legal counsel and independent auditors and (i) subject to provisions substantially similar to those contained in this Section 9.08, to any actual or proposed Participant or Assignee.

  
 Section 9.09. Governing Law; Submission to Jurisdiction.
This Agreement and each Note (if any) shall be construed in accordance with and governed by the law of the State of New York. The Borrower hereby submits to the nonexclusive jurisdiction of the United States District Court for the Southern
District of New York and of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby. The Borrower irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient
forum. 
  
 Section 9.10. Counterparts; Integration. This
Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire agreement and understanding
among the parties hereto and supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof. 
  
 Section 9.11. WAIVER OF JURY TRIAL. EACH OF THE BORROWER, THE AGENTS AND THE BANKS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE
LAW, HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
  
 Section 9.12. USA Patriot Act. Each Bank hereby notifies the Borrower that pursuant to the requirements of the USA
Patriot Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (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 Bank to identify the Borrower in accordance with the Act. 
  

 42 

 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. 
  

					
	 DUKE ENERGY CORPORATION

		
	 By:
	 	 
	 	 	 Title:
	 	 Assistant Treasurer

	 	 	 Address:
	 	 422 South Church Street
 Charlotte, NC 28202-1904

	 	 	 Attention:
	 	 S.L. Love

	 	 	Telecopy number:	 	 704-382-9497

  

 43 

 Commitments 
  

									
	$39,705,882.35	 	 	 	 	 	 CITIBANK, N.A.

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$39,705,882.35	 	 	 	 	 	 BANK OF AMERICA, N.A.

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$39,705,882.35	 	 	 	 	 	 JPMORGAN CHASE BANK

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$39,705,882.35	 	 	 	 	 	 WACHOVIA BANK, NATIONAL
ASSOCIATION

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$29,411,764.71	 	 	 	 	 	 ABN AMRO BANK N.V.

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

  

 44 

									
	$29,411,764.71	 	 	 	 	 	 BARCLAYS BANK PLC

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$29,411,764.71	 	 	 	 	 	 UBS LOAN FINANCE LLC

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$29,411,764.71	 	 	 	 	 	 DEUTSCHE BANK AG NEW YORK
BRANCH

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

  

 45 

									
	$29,411,764.71	 	 	 	 	 	 WILLIAM STREET COMMITMENT
CORPORATION

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$29,411,764.71	 	 	 	 	 	 LEHMAN BROTHERS BANK, FSB

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$20,588,235.29	 	 	 	 	 	 THE BANK OF TOKYO-MITSUBISHI,
LTD., NEW YORK BRANCH

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$20,588,235.29	 	 	 	 	 	 CREDIT SUISSE FIRST BOSTON,
acting through its Cayman Islands
Branch

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

  

 46 

									
	$20,588,235.29	 	 	 	 	 	 DRESDNER BANK AG, NEW YORK
AND GRAND CAYMAN
BRANCHES

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$20,588,235.29	 	 	 	 	 	 THE ROYAL BANK OF SCOTLAND plc

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$20,588,235.29	 	 	 	 	 	 MORGAN STANLEY BANK

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$20,588,235.29	 	 	 	 	 	 SUNTRUST BANK

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

  

 47 

									
	$10,294,117.65	 	 	 	 	 	 WESTLB AG, NEW YORK BRANCH

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$10,294,117.65	 	 	 	 	 	 KEYBANK NATIONAL
ASSOCIATION

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$10,294,117.65	 	 	 	 	 	 THE NORTHERN TRUST COMPANY

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

				
	$10,294,117.65	 	 	 	 	 	 MIZUHO CORPORATE BANK, LTD.

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

	Total Commitments	 	 	 	 	 	 
				
	$500,000,000.00	 	 	 	 	 	 

  

 48 

					
	 CITICORP USA, INC., as Administrative
Agent

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 BANK OF AMERICA, N.A., as
Syndication Agent

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 49 

 Pricing Schedule 
  
 Each of “Euro-Dollar Margin” and “Facility Fee Rate” means, for any date, the rate set
forth below in the applicable row and column corresponding to the column and “Utilization” that exist on such date: 
  
 (basis points per annum) 
  

											
	 Ratings

	  	at least A-
by S&P or
A3 by
Moody’s

	  	BBB+ by
S&P or
Baa1 by
Moody’s

	  	BBB by
S&P or
Baa2 by
Moody’s

	  	BBB- by
S&P or
Baa3 by
Moody’s

	  	less than
BBB- by
S&P
and less
than
Baa3 by
Moody’s

	 Facility Fee
	  	12.5	  	15.0	  	17.5	  	22.5	  	30.0
	 Euro-Dollar Margin
	  	 	  	 	  	 	  	 	  	 
	 Utilization* £ 50%
	  	50.0	  	60.0	  	70.0	  	90.0	  	120.0
	 Utilization* > 50%
	  	62.5	  	72.5	  	82.5	  	102.5	  	145.0

  
 The Euro-Dollar Margin
for the Term Loan shall equal the sum of (i) the rate that would otherwise be in effect based upon the table above and (ii) fifty (50) basis points. 
  
 * The “Utilization” applicable to any date is the percentage equivalent of a fraction the numerator of which is the aggregate outstanding
principal amount of the Loans determined at such time after giving effect, if one or more Loans are being made at such time, to any substantially concurrent application of the proceeds thereof to repay one or more other Loans and the denominator of
which is the aggregate amount of the Commitments at such date. If for any reason any Loans remain outstanding following termination of the Commitments, Utilization will be deemed to be 100%. 
  
 The credit ratings to be utilized for purposes of this Schedule are those
indicated for or assigned to the senior unsecured long-term debt securities of the Borrower without third-party credit enhancement, and any rating indicated for or assigned to any other debt security of the Borrower shall be disregarded. The ratings
in effect for any day are those in effect at the close of business on such day. A change in credit rating will result in an immediate change in the applicable pricing. In the case of split ratings from S&P and Moody’s, the rating to be used
to determine the applicable pricing is a rating one notch higher than the lower of the two. 
  

 SCHEDULE I 
  

DUKE ENERGY CORPORATION 
  
 CREDIT FACILITY 
  
 (Being Replaced by this Agreement) 
  
 Credit Agreement (3-Year Facility) dated as of August 29, 2001 among Duke Energy Corporation, the lenders party thereto and JPMorgan Chase Bank, as administrative agent. 
  

 EXHIBIT A 
  

NOTE 
  
 New York, New York 
 June 30, 2004 
  
 For value received, Duke Energy Corporation, a North Carolina corporation
(the “Borrower”), promises to pay to the order of (the “Bank”), for the account of its Applicable Lending Office, the unpaid principal amount of each Loan made by the Bank to the Borrower pursuant to the Credit
Agreement referred to below on the date specified in the Credit Agreement. The Borrower promises to pay interest on the unpaid principal amount of each such Loan on the dates and at the rate or rates provided for in the Credit Agreement. All such
payments of principal and interest shall be made in lawful money of the United States in Federal or other immediately available funds at the office of Citicorp USA, Inc., 388 Greenwich Street, New York, New York 10013. 
  
 All Loans made by the Bank, the respective types and maturities thereof and
all repayments of the principal thereof shall be recorded by the Bank, and the Bank, if the Bank so elects in connection with any transfer or enforcement of its Note, may endorse on the schedule attached hereto appropriate notations to evidence the
foregoing information with respect to the Loans then outstanding; provided that the failure of the Bank to make any such recordation or endorsement shall not affect the obligations of the Borrower hereunder or under the Credit Agreement.

  
 This note is one of the Notes referred to in the Three-Year
Credit Agreement dated as of June 30, 2004 among the Borrower, the banks listed on the signature pages thereof, Citicorp USA, Inc., as Administrative Agent, and Bank of America, N.A., as Syndication Agent (as the same may be amended from time to
time, the “Credit Agreement”). Terms defined in the Credit Agreement are used herein with the same meanings. Reference is made to the Credit Agreement for provisions for the prepayment hereof and the acceleration of the maturity
hereof. 
  

					
	 DUKE ENERGY CORPORATION

		
	 By:
	 	 
	 	 	 Title:
	 	 

  

 Note (cont’d) 
  
 LOANS AND PAYMENTS OF PRINCIPAL 
  

											
	 Date

	 	 Amount
 of Loan

	 	 Type
 of Loan

	  	 Amount of
 Principal Repaid

	  	 Maturity
 Date

	  	 Notation
 Made By

						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 
						
	 	 	 	 	 	  	 	  	 	  	 

  

 2 

 EXHIBIT B-1 
  

OPINION OF ASSOCIATE GENERAL COUNSEL OF THE BORROWER 
  
 June 30, 2004 
 To the Banks and the Administrative Agent

     Referred to Below 
 c/o Citicorp USA,
Inc. 
     as Administrative Agent 
 388
Greenwich Street 
 New York, New York 10013 
  
 Ladies and Gentlemen: 
  
 I am an Associate General Counsel of Duke Energy Corporation (the “Borrower”) and have acted as its counsel in connection with the
Three-Year Credit Agreement (the “Credit Agreement”), dated as of June 30, 2004, among the Borrower, the banks listed on the signature pages thereof, Citicorp USA, Inc., as Administrative Agent, and Bank of America, N.A., as
Syndication Agent. Capitalized terms defined in the Credit Agreement are used herein as therein defined. This opinion letter is being delivered pursuant to Section 3.01(b) of the Credit Agreement. 
  
 In such capacity, I or attorneys under my direct supervision have examined
originals or copies, certified or otherwise identified to my satisfaction, of such documents, corporate records, certificates of public officials and other instruments and have conducted such other investigations of fact and law as I have deemed
necessary or advisable for purposes of this opinion. 
  
 Upon the
basis of the foregoing, I am of the opinion that: 
  
 1. The
Borrower is a corporation duly incorporated, validly existing and in good standing under the laws of North Carolina. 
  
 2. The execution, delivery and performance by the Borrower of the Credit Agreement and any Notes are within the Borrower’s corporate powers, have
been duly authorized by all necessary corporate action, require no action by or in respect of, or filing with, any governmental body, agency or official (except for the approval of the obtaining of credit pursuant to the Credit Agreement by the
North Carolina Utilities Commission and The Public Service Commission of South Carolina, which has been obtained) and do not contravene, or constitute a 

  

 
default under, any provision of applicable law or regulation or of the articles of incorporation or by-laws of the Borrower or, to my knowledge, of any
agreement, judgment, injunction, order, decree or other instrument binding upon the Borrower or, to my knowledge, result in the creation or imposition of any Lien on any asset of the Borrower or any of its Material Subsidiaries. 
  
 3. Except as disclosed in the reports referred to in Section 4.04 of the
Credit Agreement, to my knowledge (but without independent investigation), there is no action, suit or proceeding pending or threatened against or affecting, the Borrower or any of its Subsidiaries before any court or arbitrator or any governmental
body, agency or official, which would be likely to be decided adversely to the Borrower or such Subsidiary and, as a result, to have a material adverse effect upon the business, consolidated financial position or consolidated results of operations
of the Borrower and its Consolidated Subsidiaries, considered as a whole, or which in any manner draws into question the validity of the Credit Agreement or any Notes. 
  
 4. The Borrower is not a holding company subject to the registration requirements of the Public Utility Holding Company Act
of 1935, as amended. 
  
 The phrase “to my knowledge”,
as used in the foregoing opinion, refers to my actual knowledge without any independent investigation as to any such matters. 
  
 I am a member of the Bar of the State of North Carolina and do not express any opinion herein concerning any law other than the law of the State of North
Carolina and the federal law of the United States of America. 
  
 This opinion is rendered to you in connection with the above-referenced mater and may not be relied upon by you for any other purpose, or relied upon by, or furnished to, any other Person, firm or corporation without my prior written
consent, except for Additional Banks and Assignees. My opinions expressed herein are as of the date hereof, and I undertake no obligation to advise you of any changes of applicable law or any other matters that may come to my attention after the
date hereof that may affect my opinions expressed herein. 
  
 Very truly yours, 
  

 2 

 EXHIBIT B-2 
  

OPINION OF 
 ROBINSON, BRADSHAW & HINSON,
P.A.,  
 SPECIAL COUNSEL FOR THE BORROWER 
  
 June 30, 2004 
  
 To the Banks and the Administrative Agent 
      Referred
to Below 
 c/o Citicorp USA, Inc. 
      as
Administrative Agent 
 388 Greenwich Street 
 New York, New York
10013 
  
 Ladies and Gentlemen: 
  
 We have acted as counsel to Duke Energy Corporation, a North Carolina
corporation (the “Borrower”), in connection with the Three-Year Credit Agreement (the “Credit Agreement”), dated as of June 30, 2004, among Duke Energy Corporation, the banks listed on the signature pages thereof,
Citicorp USA, Inc., as Administrative Agent, and Bank of America, N.A., as Syndication Agent. Capitalized terms used herein and not defined shall have the meanings given to them in the Credit Agreement. This opinion letter is being delivered
pursuant to Section 3.01(b) of the Credit Agreement. 
  
 In
connection with this opinion, we also examined originals, or copies identified to our satisfaction, of such other documents and considered such matters of law and fact as we, in our professional judgment, have deemed appropriate to render the
opinions contained herein. Where we have considered it appropriate, as to certain facts we have relied, without investigation or analysis of any underlying data contained therein, upon certificates or other comparable documents of public officials
and officers or other appropriate representatives of the Borrower. 
  
 In rendering the opinions contained herein, we have assumed, among other things, that the Credit Agreement and any Notes to be executed (i) are within the Borrower’s corporate powers, (ii) have been duly authorized by all necessary
corporate action, (iii) require no action by or in respect of, or filing with, any governmental body, agency of official, and (iv) do not contravene, or constitute a default under, any provision of applicable law or regulation or of the
Borrower’s certificate of incorporation or by-laws or any agreement, judgment, injunction, order, decree or other instrument binding upon the Borrower or result in the 

  

 
creation or imposition of any Lien on any asset of the Borrower. In addition, we have assumed that the Credit Agreement fully states the agreement between
the Borrower and the Banks with respect to the matters addressed therein, and that the Credit Agreement constitutes a legal, valid and binding obligation of each Bank, enforceable in accordance with its respective terms. 
  
 The opinions set forth herein are limited to matters governed by the laws of
the State of North Carolina and the federal laws of the United States, and no opinion is expressed herein as to the laws of any other jurisdiction. For purposes of our opinions, we have disregarded the choice of law provisions in the Credit
Agreement and, instead, have assumed with your permission that the Credit Agreement and the Notes are governed exclusively by the internal, substantive laws and judicial interpretations of the State of North Carolina. We express no opinion
concerning any matter respecting or affected by any laws other than laws that a lawyer in North Carolina exercising customary professional diligence would reasonably recognize as being directly applicable to the Borrower, the Loans, or any of them.

  
 Based upon and subject to the foregoing and the further
limitations and qualifications hereinafter expressed, it is our opinion that the Credit Agreement constitutes the legal, valid and binding obligation of the Borrower and the Notes, if and when issued, will constitute legal, valid and binding
obligations of the Borrower, in each case, enforceable against the Borrower in accordance with its terms. 
  
 The opinions expressed above are subject to the following qualifications and limitations: 
  
 1. Enforcement of the Credit Agreement and the Notes is subject to the effect of applicable bankruptcy, insolvency,
reorganization, fraudulent conveyance, moratorium and similar laws affecting the enforcement of creditors’ rights generally. 
  
 2. Enforcement of the Credit Agreement and the Notes is subject to the effect of general principles of equity (regardless of whether considered in a
proceeding in equity or at law) by which a court with proper jurisdiction may deny rights of specific performance, injunction, self-help, possessory remedies or other remedies. 
  
 3. We do not express any opinion as to the enforceability of any provisions contained in the Credit Agreement or any Note
that (i) purport to excuse a party for liability for its own acts, (ii) purport to make void any act done in contravention thereof, (iii) purport to authorize a party to act in its sole discretion, (iv) require waivers or amendments to be made only
in writing, (v) purport to effect waivers of constitutional, statutory or equitable rights or the 

  

 2 

 
effect of applicable laws, (vi) impose liquidated damages, penalties or forfeiture, or (vii) purport to indemnify a party for its own negligence or willful
misconduct. Indemnification provisions in the Credit Agreement are subject to and may be rendered unenforceable by applicable law or public policy, including applicable securities law. 
  
 4. We do not express any opinion as to the enforceability of any provisions contained in the Credit Agreement or the Notes
purporting to require a party thereto to pay or reimburse attorneys’ fees incurred by another party, or to indemnify another party therefor, which may be limited by applicable statutes and decisions relating to the collection and award of
attorneys’ fees, including but not limited to North Carolina General Statutes § 6-21.2. 
  
 5. We do not express any opinion as to the enforceability of any provisions contained in the Credit Agreement purporting to waive the right of jury trial.
Under North Carolina General Statutes § 22B-10, a provision for the waiver of the right to a jury trial is unconscionable and unenforceable. 
  
 6. We do not express any opinion as to the enforceability of any provisions contained in the Credit Agreement concerning choice of forum or consent to the
jurisdiction of courts, venue of actions or means of service of process. 
  
 7. It is likely that North Carolina courts will enforce the provisions of the Credit Agreement providing for interest at a higher rate resulting from a Default or Event of Default (a ”Default Rate”)
which rate is higher than the rate otherwise stipulated in the Credit Agreement. The law, however, disfavors penalties, and it is possible that interest at the Default Rate may be held to be an unenforceable penalty, to the extent such rate exceeds
the rate applicable prior to a default under the Credit Agreement. Also, since North Carolina General Statutes § 24-10.1 expressly provides for late charges, it is possible that North Carolina courts, when faced specifically with the issue,
might rule that this statutory late charge preempts any other charge (such as default interest) by a bank for delinquent payments. The only North Carolina case which we have found that addresses this issue is a 1978 Court of Appeals decision, which
in our opinion is of limited precedential value, North Carolina National Bank v. Burnette, 38 N.C. App. 120, 247 S.E.2d 648 (1978), rev’d on other grounds, 297 N.C. 524, 256 S.E.2d 388 (1979). While the court in that case did
allow interest after default (commencing with the date requested in the complaint) at a rate six percent in excess of pre-default interest, we are unable to determine from the opinion that any question was raised as to this being penal in nature,
nor does the court address the possible question of the statutory late charge preempting a default interest surcharge. Therefore, since the North Carolina Supreme Court has not ruled in a properly presented case raising issues of its possible penal
nature and those of North Carolina General Statutes § 24-10.1, we are unwilling 

  

 3 

 
to express an unqualified opinion that the Default Rate of interest prescribed in the Credit Agreement is enforceable. 
  
 8. We do not express any opinion as to the enforceability of any provisions
contained in the Credit Agreement relating to evidentiary standards or other standards by which the Credit Agreement are to be construed. 
  
 This opinion letter is delivered solely for your benefit in connection with the Credit Agreement and, except for any Additional Bank or any Assignee which
becomes a Bank pursuant to Section 9.06(c) of the Credit Agreement, may not be used or relied upon by any other Person or for any other purpose without our prior written consent in each instance. Our opinions expressed herein are as of the date
hereof, and we undertake no obligation to advise you of any changes of applicable law or any other matters that may come to our attention after the date hereof that may affect our opinions expressed herein. 
  
 Very truly yours, 
  

 4 

 EXHIBIT C 
  

OPINION OF 
 DAVIS POLK & WARDWELL,
SPECIAL COUNSEL  
 FOR THE AGENTS 
  
 June 30, 2004 
  
 To the Banks and the Administrative Agent 
      Referred to Below 
 c/o Citicorp USA, Inc., 
 as Administrative Agent 
 388 Greenwich Street 
 New York, New York 10013 
  
 Dear Sirs: 
  
 We have participated in the preparation of the Three-Year Credit Agreement (the “Credit Agreement”) dated
as of June 30, 2004 among Duke Energy Corporation, a North Carolina corporation (the “Borrower”), the banks listed on the signature pages thereof (the “Banks”), Citicorp USA, Inc., as Administrative Agent (the
“Administrative Agent”), and Bank of America, N.A., as Syndication Agent, and have acted as special counsel for the Agents for the purpose of rendering this opinion pursuant to Section 3.01(c) of the Credit Agreement. Terms defined
in the Credit Agreement are used herein as therein defined. 
  
 We
have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents, corporate records, certificates of public officials and other instruments and have conducted such other investigations of fact and law as we
have deemed necessary or advisable for purposes of this opinion. 
  
 Upon the basis of the foregoing, we are of the opinion that: 
  
 1. The execution, delivery and performance by the Borrower of the Credit Agreement and the Notes are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate action. 
  
 2. The Credit Agreement constitutes a valid and binding agreement of the
Borrower and the Notes, if and when issued, constitute valid and binding obligations of the Borrower enforceable in accordance with their respective terms, 

  

 
except as the same may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and by general principles of equity.

  
 In giving the foregoing opinion, (i) we express no opinion as
to the effect (if any) of any law of any jurisdiction (except the State of New York) in which any Bank is located which limits the rate of interest that such Bank may charge or collect and (ii) we have relied, without independent investigation, as
to all matters governed by the laws of North Carolina, upon the opinion of the Associate General Counsel of the Borrower, dated June 30, 2004, a copy of which has been delivered to you. 
  
 This opinion is rendered solely to you in connection with the above matter. This opinion may not be relied upon by you for
any other purpose or relied upon by or furnished to any other person, firm or corporation without our prior written consent, except for Additional Banks and all Participants. 
  
 Very truly yours, 
  

 2 

 EXHIBIT D 
  

ASSIGNMENT AND ASSUMPTION AGREEMENT 
  
 AGREEMENT dated as of             , 20     among [ASSIGNOR]
(the “Assignor”), [ASSIGNEE] (the “Assignee”), [DUKE ENERGY CORPORATION,] and CITICORP USA, INC., as Administrative Agent (the “Administrative Agent”). 
  
 W I T N E S S E T H 
  
 WHEREAS, this Assignment and Assumption Agreement (the
“Agreement”) relates to the Three-Year Credit Agreement dated as of June 30, 2004 among Duke Energy Corporation (the “Borrower”), the Assignor and the other Banks party thereto, as Banks, the Administrative Agent
and Bank of America, N.A., as Syndication Agent (the “Credit Agreement”); 
  
 WHEREAS, as provided under the Credit Agreement, the Assignor has a Commitment to make Loans to the Borrower in an aggregate principal amount at any time outstanding not to exceed
$            ;1 
  
 WHEREAS, Loans made to the Borrower by the Assignor under the Credit
Agreement in the aggregate principal amount of $             are outstanding at the date hereof; and 
  
 WHEREAS, the Assignor proposes to assign to the Assignee all of the rights of the Assignor under the Credit Agreement in
respect of a portion of its Commitment thereunder in an amount equal to $             (the “Assigned Amount”), together with a corresponding portion of its
outstanding Loans, and the Assignee proposes to accept assignment of such rights and assume the corresponding obligations from the Assignor on such terms;* 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows: 
  
 SECTION 1. Definitions. All capitalized terms not
otherwise defined herein shall have the respective meanings set forth in the Credit Agreement. 
  
 SECTION 2. Assignment. The Assignor hereby assigns and sells to the Assignee all of the rights of the Assignor under the Credit Agreement to the extent of the Assigned Amount, and the Assignee
hereby accepts such assignment 

	1	The asterisked provisions shall be appropriately revised in the event of an assignment after the Commitment Termination Date. 

  

 from the Assignor and assumes all of the obligations of the Assignor under the Credit Agreement to the extent of the
Assigned Amount, including the purchase from the Assignor of the corresponding portion of the principal amount of the Loans made by the Assignor outstanding at the date hereof. Upon the execution and delivery hereof by the Assignor, the Assignee,
[the Borrower] and the Administrative Agent, the payment of the amounts specified in Section 3 required to be paid on the date hereof (i) the Assignee shall, as of the date hereof, succeed to the rights and be obligated to perform the obligations of
a Bank under the Credit Agreement with a Commitment in an amount equal to the Assigned Amount, and (ii) the Commitment of the Assignor shall, as of the date hereof, be reduced by a like amount and the Assignor released from its obligations under the
Credit Agreement to the extent such obligations have been assumed by the Assignee. The assignment provided for herein shall be without recourse to the Assignor. 
  

SECTION 3. Payments. As consideration for the assignment and sale contemplated in Section 2 hereof, the Assignee shall pay to the
Assignor on the date hereof in Federal funds the amount heretofore agreed between them.2 It is understood that
facility fees accrued to the date hereof in respect of the Assigned Amount are for the account of the Assignor and such fees accruing from and including the date hereof are for the account of the Assignee. Each of the Assignor and the Assignee
hereby agrees that if it receives any amount under the Credit Agreement which is for the account of the other party hereto, it shall receive the same for the account of such other party to the extent of such other party’s interest therein and
shall promptly pay the same to such other party. 
  
 SECTION 4. Consent to Assignment. This Agreement is conditioned upon the consent of [the Borrower and] the Administrative Agent pursuant to Section 9.06(c) of the Credit Agreement. The execution of this Agreement by
[the Borrower and] the Administrative Agent is evidence of this consent. Pursuant to Section 9.06(c) the Borrower agrees to execute and deliver a Note, if required by the Assignee, payable to the order of the Assignee to evidence the assignment and
assumption provided for herein. 
  
 SECTION 5.
Non-reliance on Assignor. The Assignor makes no representation or warranty in connection with, and shall have no responsibility with respect to, the solvency, financial condition, or statements of any Borrower, or the validity and
enforceability of the obligations of any Borrower in respect of the Credit Agreement or any Note. The Assignee acknowledges that it has, independently and without reliance on the Assignor, and based on such 

	2	Amount should combine principal together with accrued interest and breakage compensation, if any, to be paid by the Assignee. It may be preferable in an appropriate
case to specify these amounts generically or by formula rather than as a fixed sum. 

  

 2 

 documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Agreement and will continue to be responsible for making its own independent appraisal of the business, affairs and financial condition of the Borrower. 
  
 SECTION 6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  
 SECTION 7. Counterparts. This Agreement
may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
 SECTION 8. Administrative Questionnaire. Attached is an Administrative Questionnaire duly completed by
the Assignee. 
  

 3 

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

			
	 [ASSIGNOR]

		
	By:	 	 
	 	 	 Title:

	
	 [ASSIGNEE]

		
	By:	 	 
	 	 	 Title:

	
	 [DUKE ENERGY CORPORATION]

		
	By:	 	 
	 	 	 Title:

	
	 CITICORP USA, INC., as Administrative Agent

		
	By:	 	 
	 	 	 Title:

  

 4 

 EXHIBIT E 
  

EXTENSION AGREEMENT 
  
 Citicorp USA, Inc., as Administrative 
 Agent under the Credit Agreement

 referred to below 
 388 Greenwich Street 
 New York, New York 10013 
  
 Ladies and Gentlemen: 
  
 Effective as of [date], the undersigned hereby agrees to extend its Commitment and Commitment Termination Date under the Three-Year Credit Agreement dated as of June 30, 2004 among Duke Energy Corporation, (the “Borrower”),
the banks parties thereto, Citicorp USA, Inc., as Administrative Agent, and Bank of America, N.A., as Syndication Agent (the “Credit Agreement”) for one year to [date to which its Commitment Termination Date is to be extended]
pursuant to Section 2.01(c) of the Credit Agreement. Terms defined in the Credit Agreement are used herein as therein defined. 
  
 This Extension Agreement shall be construed in accordance with and governed by the law of the State of New York. This Extension Agreement may be signed in
any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  

			
	 [NAME OF BANK]

		
	By:	 	 
	 	 	 Title:

  

 Agreed and Accepted: 
  

			
	 DUKE ENERGY CORPORATION,
 as Borrower

		
	By:	 	 
	 	 	 Title:

	
	 CITICORP USA, INC.,
 as Administrative Agent

		
	By:	 	 
	 	 	 Title:

  

 2Credit Agreement

 Exhibit 10.1 
  

 Published CUSIP
Number:             
  
 CREDIT AGREEMENT 
  
 dated
as of June 30, 2004 
  
 among 
  
 PTEK HOLDINGS, INC., 
 as Borrower, 
  
 CERTAIN SUBSIDIARIES AND AFFILIATES OF THE BORROWER, 
 as Guarantors, 

 
 THE LENDERS PARTY HERETO, 
  
 BANK OF AMERICA, N.A., 
 as Administrative Agent and Collateral Agent, 
  
 and 
  
 LASALLE BANK NATIONAL ASSOCIATION, 
 as Syndication Agent and Co-Lead Arranger

  
 BANC OF AMERICA SECURITIES LLC, 
 as 
 Co-Lead Arranger and Sole Book Manager

  

 TABLE OF CONTENTS 
  
 Article and Section 
  

					
	 	 	 	  	Page
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	  	1
	   1.01
	 	Defined Terms.	  	1
	   1.02
	 	Interpretive Provisions.	  	25
	   1.03
	 	Accounting Terms and Provisions.	  	26
	   1.04
	 	Rounding.	  	26
	   1.05
	 	Exchange Rates; Currency Equivalents.	  	27
	   1.06
	 	Additional Alternative Currencies.	  	27
	   1.07
	 	Change of Currency.	  	28
	   1.08
	 	Times of Day.	  	28
	   1.09
	 	Letter of Credit Amounts.	  	28
		
	 ARTICLE II COMMITMENTS AND CREDIT EXTENSIONS
	  	29
	   2.01
	 	Commitments.	  	29
	   2.02
	 	Borrowings, Conversions and Continuations.	  	30
	   2.03
	 	Additional Provisions with respect to Letters of Credit.	  	31
	   2.04
	 	Additional Provisions with respect to Swingline Loans.	  	37
	   2.05
	 	Repayment of Loans.	  	39
	   2.06
	 	Prepayments.	  	40
	   2.07
	 	Termination or Reduction of Commitments.	  	41
	   2.08
	 	Interest.	  	42
	   2.09
	 	Fees.	  	42
	   2.10
	 	Computation of Interest and Fees.	  	44
	   2.11
	 	Payments Generally; Administrative Agent’s Clawback.	  	44
	   2.12
	 	Sharing of Payments By Lenders.	  	45
	   2.13
	 	Evidence of Debt.	  	46
		
	 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY
	  	47
	   3.01
	 	Taxes.	  	47
	   3.02
	 	Illegality.	  	48
	   3.03
	 	Inability to Determine Rates.	  	49
	   3.04
	 	Increased Cost; Capital Adequacy.	  	49
	   3.05
	 	Compensation for Losses.	  	51
	   3.06
	 	Mitigation Obligations; Replacement of Lenders.	  	51
	   3.07
	 	Survival Losses.	  	52
		
	 ARTICLE IV GUARANTY
	  	52
	   4.01
	 	The Guaranty.	  	52
	   4.02
	 	Obligations Unconditional.	  	52
	   4.03
	 	Reinstatement.	  	53
	   4.04
	 	Certain Waivers.	  	54
	   4.05
	 	Remedies.	  	54
	   4.06
	 	Rights of Contribution.	  	54
	   4.07
	 	Guaranty of Payment; Continuing Guaranty.	  	55
		
	 ARTICLE V CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	55
	   5.01
	 	Conditions to Initial Credit Extensions.	  	55
	   5.02
	 	Conditions to All Credit Extensions.	  	57

  

 i 

					
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES
	  	58
	   6.01
	 	Existence, Qualification and Power.	  	58
	   6.02
	 	Authorization; No Contravention.	  	58
	   6.03
	 	Governmental Authorization; Other Consents.	  	58
	   6.04
	 	Binding Effect.	  	59
	   6.05
	 	Financial Statements.	  	59
	   6.06
	 	No Material Adverse Effect.	  	59
	   6.07
	 	 Litigation.
	  	59
	   6.08
	 	 No Default.
	  	59
	   6.09
	 	 Ownership of Property; Liens.
	  	60
	   6.10
	 	 Environmental Compliance.
	  	60
	   6.11
	 	 Insurance.
	  	60
	   6.12
	 	 Taxes.
	  	60
	   6.13
	 	 ERISA Compliance.
	  	60
	   6.14
	 	 Subsidiaries.
	  	61
	   6.15
	 	 Margin Regulations; PUHCA; Investment Company Act.
	  	61
	   6.16
	 	 Disclosure.
	  	61
	   6.17
	 	 Compliance with Laws.
	  	62
	   6.18
	 	 Solvency.
	  	62
	   6.19
	 	 Subordinated Debt.
	  	62
	   6.20
	 	 Intellectual Property; Licenses, Etc.
	  	62
	   6.21
	 	 Security Agreement.
	  	62
	   6.22
	 	 Pledge Agreement.
	  	63
		
	 ARTICLE VII AFFIRMATIVE COVENANTS
	  	63
	   7.01
	 	 Financial Statements.
	  	63
	   7.02
	 	 Certificates; Other Information.
	  	64
	   7.03
	 	 Notification.
	  	66
	   7.04
	 	 Payment of Obligations.
	  	66
	   7.05
	 	 Preservation of Existence, Etc.
	  	66
	   7.06
	 	 Maintenance of Properties.
	  	67
	   7.07
	 	 Maintenance of Insurance.
	  	67
	   7.08
	 	 Compliance with Laws; ERISA Compliance.
	  	67
	   7.09
	 	 Books and Records.
	  	68
	   7.10
	 	 Inspection Rights.
	  	68
	   7.11
	 	 Use of Proceeds.
	  	68
	   7.12
	 	 Joinder of Subsidiaries as Guarantors.
	  	68
	   7.13
	 	 Guaranties and Support Obligations in Respect of other Funded Debt.
	  	68
	   7.14
	 	 Pledge of Capital Stock.
	  	69
	   7.15
	 	 Pledge of Other Property.
	  	69
	   7.16
	 	 Post-Closing Deliveries.
	  	69
		
	 ARTICLE VIII NEGATIVE COVENANTS
	  	70
	   8.01
	 	 Liens.
	  	70
	   8.02
	 	 Investments.
	  	71
	   8.03
	 	 Indebtedness.
	  	72
	   8.04
	 	 Mergers and Dissolutions.
	  	72
	   8.05
	 	 Dispositions.
	  	73
	   8.06
	 	 Restricted Payments.
	  	73
	   8.07
	 	 Change in Nature of Business.
	  	74
	   8.08
	 	 Change in Fiscal Year.
	  	74
	   8.09
	 	 Transactions with Affiliates.
	  	74

  

 ii 

					
	   8.10
	 	 Prepayment of other Funded Debt.
	  	74
	   8.11
	 	 No Further Negative Pledges.
	  	75
	   8.12
	 	 Financial Covenants.
	  	75
		
	 ARTICLE IX EVENTS OF DEFAULT AND REMEDIES
	  	76
	   9.01
	 	 Events of Default.
	  	76
	   9.02
	 	 Remedies Upon Event of Default.
	  	77
	   9.03
	 	 Application of Funds.
	  	78
		
	 ARTICLE X ADMINISTRATIVE AGENT AND COLLATERAL AGENT
	  	79
	 10.01
	 	 Appointment and Authorization of Administrative Agent and Collateral Agent.
	  	79
	 10.02
	 	 Rights as a Lender.
	  	80
	 10.03
	 	 Exculpatory Provisions.
	  	80
	 10.04
	 	 Reliance by Administrative Agent.
	  	81
	 10.05
	 	 Delegation of Duties.
	  	81
	 10.06
	 	 Resignation of the Administrative Agent.
	  	81
	 10.07
	 	 Non-Reliance on Administrative Agent and Other Lenders.
	  	82
	 10.08
	 	 No Other Duties.
	  	82
	 10.09
	 	 Indemnification of Administrative Agent.
	  	83
	 10.10
	 	 Administrative Agent May File Proofs of Claim.
	  	83
	 10.11
	 	 Collateral and Guaranty Matters.
	  	84
		
	 ARTICLE XI MISCELLANEOUS
	  	84
	 11.01
	 	 Amendments, Etc.
	  	84
	 11.02
	 	 Notices; Effectiveness; Electronic Communication.
	  	86
	 11.03
	 	 No Waiver; Cumulative Remedies.
	  	87
	 11.04
	 	 Expenses; Indemnity; Damage Waiver.
	  	87
	 11.05
	 	 Payments Set Aside.
	  	89
	 11.06
	 	 Successors and Assigns.
	  	89
	 11.07
	 	 Treatment of Certain Information; Confidentiality.
	  	92
	 11.08
	 	 Right of Setoff.
	  	93
	 11.09
	 	 Interest Rate Limitation.
	  	93
	 11.10
	 	 Counterparts; Integration; Effectiveness.
	  	93
	 11.11
	 	 Survival of Representations and Warranties.
	  	93
	 11.12
	 	 Severability.
	  	94
	 11.13
	 	 Replacement of Lenders.
	  	94
	 11.14
	 	 Governing Law; Jurisdiction; Etc.
	  	94
	 11.15
	 	 Waiver of Jury Trial.
	  	95
	 11.16
	 	 USA PATRIOT Act Notice.
	  	96
	 11.17
	 	 Judgment Currency.
	  	96

  

 iii 

 SCHEDULES 
  

			
	 Schedule 1.01-1
	 	 Mandatory Cost Rate

	 Schedule 1.01-2
	 	 Restructuring Charges

	 Schedule 2.01
	 	 Lenders and Commitments

	 Schedule 2.03
	 	 Existing Letters of Credit

	 Schedule 6.05
	 	 Contingent Liabilities

	 Schedule 6.14
	 	 Subsidiaries

	 Schedule 6.20
	 	 Certain Intellectual Property

	 Schedule 8.01
	 	 Existing Liens

	 Schedule 8.02(b)
	 	 Existing Investments

	 Schedule 8.02(k)
	 	 Designated Officers

	 Schedule 8.03
	 	 Existing Indebtedness

	 Schedule 8.05
	 	 Permitted Dispositions

	 Schedule 11.02
	 	 Notice Addresses

  
 EXHIBITS

  

			
	 Exhibit 2.02
	 	 Form of Loan Notice

	 Exhibit 2.13-1
	 	 Form of Revolving Note

	 Exhibit 2.13-2
	 	 Form of Swingline Note

	 Exhibit 7.02(a)
	 	 Form of Compliance Certificate

	 Exhibit 7.12
	 	 Form of Joinder Agreement

	 Exhibit 11.06
	 	 Form of Assignment and Assumption

  

 iv 

 CREDIT AGREEMENT 
  
 This CREDIT AGREEMENT (the “Credit Agreement”) is entered into as of June 30, 2004, among PTEK HOLDINGS,
INC., a Georgia corporation (the “Borrower”), the Guarantors identified herein, the Lenders party hereto, and BANK OF AMERICA, N.A., as Administrative Agent. 
  
 WHEREAS, the Borrower and the Guarantors have requested that the Lenders provide revolving credit facilities for the
purposes set forth herein; and 
  
 WHEREAS, the Lenders have
agreed to make the requested facilities available on the terms and conditions set forth herein; 
  
 NOW, THEREFORE, in consideration of these premises and the mutual covenants and agreements contained herein, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto covenant and agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS AND ACCOUNTING TERMS

  
 1.01 Defined Terms. 
  
 As used in this Credit Agreement, the following terms have the meanings
provided below: 
  
 “Acquisition” means the
purchase or acquisition by any Person of (a) more than 50% of the Capital Stock with ordinary voting power of another Person or (b) all or any substantial portion of the property (other than Capital Stock) of another Person, whether or not involving
a merger or consolidation with such Person. 
  
 “Additional Stock Loans” has the meaning provided in Section 8.02(k). 
  
 “Administrative Agent” means Bank of America in its capacity as administrative agent for the Lenders under any of the Credit Documents,
or any successor administrative agent. 
  
 “Administrative
Agent’s Office” means, with respect to any currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 11.02 with respect to such currency, or such other address or account with
respect to such currency as the Administrative Agent may from time to time notify the Borrower and the Lenders. 
  
 “Administrative Questionnaire” means an administrative questionnaire for the Lenders in a form supplied by the Administrative Agent.

  
 “Affiliate” means, with respect to any
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. 
  
 “Agent-Related Persons” means the Administrative Agent and the Collateral Agent, in each case, together
with its Affiliates (including, in the case of Bank of America in its capacity as the Administrative Agent, BAS), and the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 

 “Aggregate Commitments” means the Aggregate Revolving Commitments. 
  
 “Aggregate Commitment Percentage” means, for each Lender, a
fraction (expressed as a percentage carried to the ninth decimal place), the numerator of which is the amount of such Lender’s respective Revolving Commitment and the denominator of which is the Aggregate Commitments. 
  
 “Aggregate Revolving Commitments” means the Revolving
Commitments of all the Lenders. 
  
 “Aggregate Revolving
Committed Amount” has the meaning provided in Section 2.01(a). 
  
 “Alternative Currency” means each of Australian Dollars, Euro, British Pounds Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.07.

  
 “Alternative Currency Sublimit” has the
meaning provided in Section 2.01(a). 
  
 “Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the
L/C Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. 
  
 “Applicable Percentage” means the following percentages per
annum, based on the Consolidated Leverage Ratio determined as of the last day of the immediately preceding fiscal quarter: 
  

									
	 	  	 	  	Revolving Loans and Letters of Credit

	 	 
	 Pricing
Level

	  	 Consolidate
 Leverage Ratio

	  	 Eurocurrency Rate
 Loans and Letters of
 Credit

	 	Base Rate
Loans

	 	Commitment
Fee

	1	  	Less than 1.0 to 1.0	  	1.500%	 	0.000%	 	0.300%
	2	  	Less than 1.5 to 1.0 but greater than or equal to 1.0 to 1.0	  	1.750%	 	0.250%	 	0.300%
	3	  	Greater than or equal to 1.5 to 1.0	  	2.000%	 	0.500%	 	0.425%

  
 Any increase or decrease in the
Applicable Percentage resulting from a change in the Consolidated Leverage Ratio shall become effective not later than the date five Business Days immediately following the date a Compliance Certificate is required to be delivered pursuant to
Section 7.02(a); provided, however, that if a Compliance Certificate is not delivered when due in accordance therewith, then Pricing Level 3 shall apply as of the first Business Day after the date on which such Compliance Certificate
was required to have been delivered until the date not later than five Business Days immediately following delivery thereof. Determinations by the Administrative Agent of the appropriate Pricing Level shall be conclusive absent manifest error.

  
 “Applicable Time” means, with respect to any
borrowings and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent or the L/C Issuer, as the case may be, to be necessary for timely
settlement on the relevant date in accordance with normal banking procedures in the place of payment. 
  

 2 

 “Approved Fund” means any Fund 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. 
  
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any
party whose consent is required by Section 11.06 and accepted by the Administrative Agent, in substantially the form of Exhibit 11.06 or any other form approved by the Administrative Agent. 
  
 “Attributable Principal Amount” means (a) in the case of
capital leases, the amount of capital lease obligations determined in accordance with GAAP, (b) in the case of Synthetic Leases, an amount determined by capitalization of the remaining lease payments thereunder as if it were a capital lease
determined in accordance with GAAP, (c) in the case of Securitization Transactions, the outstanding principal amount of such financing, after taking into account reserve amounts and making appropriate adjustments, determined by the Administrative
Agent in its reasonable judgment and (d) in the case of Sale and Leaseback Transactions, the present value (discounted in accordance with GAAP at the debt rate implied in the applicable lease) of the obligations of the lessee for rental payments
during the term of such lease. 
  
 “Australian
Dollars” or “AUD $”means the lawful currency of Australia. 
  
 “Bank of America” means Bank of America, N.A., together with its successors. 
  
 “BAS” means Banc of America Securities LLC, together with its successors. 
  
 “Base Rate” means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds
Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”. The “prime rate” is a rate set by Bank of America based upon various
factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in the
prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 
  
 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. All Base Rate Loans shall be denominated in Dollars.

  
 “Borrower” has the meaning provided in the
recitals hereto, together with its successors and permitted assigns. 
  
 “Borrowing” means (a) a borrowing consisting of simultaneous Loans of the same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest Period, or (b) a borrowing of Swingline Loans,
as appropriate. 
  
 “Business Day” means any day
other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is
located and: 
  
 (a) if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant to this
Credit Agreement in respect of any such Eurocurrency Rate Loan, means any such day on which dealings in deposits in Dollars are conducted by and between banks in the London interbank Eurocurrency market; 
  

 3 

 (b) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Euro,
any fundings, disbursements, settlements and payments in Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in Euro to be carried out pursuant to this Credit Agreement in respect of any such Eurocurrency Rate Loan, means a
TARGET Day; 
  
 (c) if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable offshore
interbank market for such currency; and 
  
 (d) if such day
relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than
Dollars or Euro to be carried out pursuant to this Credit Agreement in respect of any such Eurocurrency Rate Loan (other than any interest rate settings), means any such day on which banks are open for foreign exchange business in the principal
financial center of the country of such currency. 
  
 “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of
capital stock, (c) in the case of a partnership, partnership interests (whether general or limited), (d) in the case of a limited liability company, membership interests and (e) any other interest or participation that confers on a Person the right
to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
  
 “Cash Collateralize” means to pledge and deposit with or deliver to the Collateral Agent, for the benefit of the L/C Issuer and the
Lenders, as collateral for the L/C Obligations, cash or deposit account balances pursuant to documentation in form and substance reasonably satisfactory to the Collateral Agent and the L/C Issuer. 
  
 “Cash Equivalents” means (a) securities issued or directly
and fully guaranteed or insured by the United States or any agency or instrumentality thereof (provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than twelve months from the date
of acquisition, (b) Dollar-denominated time deposits and certificates of deposit of (i) any Lender, (ii) any domestic commercial bank of recognized standing having capital and surplus in excess of $500 million or (iii) any bank whose short-term
commercial paper rating from S&P is at least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent thereof (each an “Approved Bank”), in each case with maturities of not more than 270 days from the
date of acquisition, (c) commercial paper and variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1 (or the equivalent
thereof) or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s and maturing within six months of the date of acquisition, (d) repurchase agreements entered into by any Person with a bank or trust company (including any of
the Lenders) or recognized securities dealer having capital and surplus in excess of $500 million for direct obligations issued by or fully guaranteed by the United States in which such Person shall have a perfected first priority security interest
(subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least 100% of the amount of the repurchase obligations and (e) Investments (classified in accordance with GAAP as current assets) in money market
investment programs registered under the Investment Company Act of 1940, as amended, that are administered by reputable financial institutions having capital of at least $500 million and the portfolios of which are limited to Investments of the
character described in the foregoing subclauses hereof. 
  

 4 

 “Change in Law” means the occurrence, after the date of this Credit Agreement, of any of
the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the
making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 
  
 “Change of Control” means, with respect to any Person, an event or series of events by which: 
  
 (a) any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any
such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such
person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 35% or more of the equity securities of such
Person entitled to vote for members of the board of directors or equivalent governing body of such Person on a fully diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option
right); or 
  
 (b) during any period of twelve consecutive months,
a majority of the members of the board of directors or other equivalent governing body of such Person cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose
election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing
body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body (excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing
body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of
the board of directors). 
  
 “Closing Date” means
the date hereof. 
  
 “Collateral” means the
collateral identified in, and at any time covered by, the Collateral Documents. 
  
 “Collateral Agent” means Bank of America in its capacity as collateral agent for the Lenders under any of the Collateral Documents, or any successor collateral agent. 
  
 “Collateral Documents” means the Security Agreement, the
Pledge Agreement and any other documents executed and delivered in connection with the attachment and perfection of security interests granted to secure the Obligations. 
  

 5 

 “Commitments” means the Revolving Commitment, the L/C Commitment and the Swingline
Commitment. 
  
 “Compliance Certificate” means a
certificate substantially in the form of Exhibit 7.02(b). 
  
 “Confidential Information” has the meaning provided in Section 11.07. 
  
 “Consolidated Capital Expenditures” means, for any period for the Consolidated Group, without duplication, all expenditures (whether paid
in cash or other consideration) during such period that, in accordance with GAAP, are or should be included in additions to property, plant and equipment or similar items reflected in the consolidated statement of cash flows for such period;
provided, that Consolidated Capital Expenditures shall not include, for purposes hereof, (a) expenditures in connection with any Acquisition permitted hereunder or (b) expenditures of proceeds of insurance settlements, condemnation awards and
other settlements in respect of lost, destroyed, damaged or condemned assets, equipment or other property to the extent such expenditures are made to replace or repair such lost, destroyed, damaged or condemned assets, equipment or property.

  
 “Consolidated EBITDA” means, for any period
for the Consolidated Group, the sum of (a) Consolidated Net Income, plus (b) to the extent deducted in determining net income, (i) Consolidated Interest Expense (including, for purposes hereof, the Make-Whole Amount), (ii) taxes, (iii)
depreciation and amortization, (iv) non-cash charges for non-cash equity compensation unless and until payment thereof is made in cash (with an adjustment being made to reduce Consolidated EBITDA in the case of any such cash payments), (v) non-cash
charges for impairment of assets under Financial Accounting Standards 142 and 144, (vi) deferred financing costs relating to the Existing Credit Agreement and (vii) restructuring expenses set forth on Schedule 1.01-2 hereof or as otherwise
approved by the Administrative Agent and the Required Lenders, in each case on a consolidated basis determined in accordance with GAAP. For purposes herein, Consolidated EBITDA shall be calculated on a Pro Forma Basis. 
  
 “Consolidated EBITDAR” means, for any period for the
Consolidated Group, the sum of (a) Consolidated EBITDA, plus (b) rent and lease expense, in each case determined on a consolidated basis in accordance with GAAP. Except as otherwise expressly provided, the applicable period shall be the four
consecutive fiscal quarters ending as of the date of determination. 
  
 “Consolidated Fixed Charge Coverage Ratio” means, as of the last day of each fiscal quarter for the period of four consecutive fiscal quarters ending on such day, the ratio of (a) on such day, Consolidated EBITDAR
minus Consolidated Capital Expenditures minus cash taxes to (b) Consolidated Fixed Charges. 
  
 “Consolidated Fixed Charges” means, for any period for the Consolidated Group, the sum of (a) the cash portion of Consolidated Interest
Expense, plus (b) rent and lease expense, plus (c) scheduled principal payments made on Consolidated Funded Debt, in each case on a consolidated basis determined in accordance with GAAP, but excluding, in any event the principal
payments of up to $15 million on the Convertible Notes – 2004 contemplated with a portion of the initial Borrowing hereunder. Except as otherwise expressly provided, the applicable period shall be the four consecutive fiscal quarters ending as
of the date of determination. 
  
 “Consolidated Funded
Debt” means Funded Debt of the Consolidated Group determined on a consolidated basis in accordance with GAAP. 
  

 6 

 “Consolidated Group” means the Borrower and its consolidated subsidiaries, as determined
in accordance with GAAP. 
  
 “Consolidated Interest
Expense” means, for any period for the Consolidated Group, all interest expense on a consolidated basis determined in accordance with GAAP, but including, in any event, the interest component under Capital Leases and the implied interest
component under Securitization Transactions and excluding, for purposes hereof, the Make-Whole Amount. Except as expressly provided otherwise, the applicable period shall be the four consecutive fiscal quarters ending as of the date of
determination. 
  
 “Consolidated Leverage Ratio”
means, as of the last day of each fiscal quarter, the ratio of (a) Consolidated Funded Debt on such day to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters ending as of such day. 
  
 “Consolidated Net Income” means, for any period for the
Consolidated Group, net income (or loss) determined on a consolidated basis in accordance with GAAP, but excluding for purposes of determining the Consolidated Leverage Ratio and the Consolidated Fixed Charge Coverage Ratio, any extraordinary gains
or losses and related tax effects thereon. Except as otherwise expressly provided, the applicable period shall be the four consecutive fiscal quarters ending as of the date of determination. 
  
 “Consolidated Net Worth” means, as of any date, consolidated
shareholders’ equity or net worth of the Consolidated Group as determined in accordance with GAAP. 
  
 “Consolidated Tangible Assets” means, for the Consolidated Group at any date of determination thereof, (i) Consolidated Total Assets on
that date, minus (ii) all assets as are properly classified as intangible assets in accordance with GAAP, including customer lists, goodwill, copyrights, trade names, trademarks, patents, unamortized deferred charges, unamortized debt
discount, capitalized research and development costs and intercompany transactions that eliminate under GAAP. 
  
 “Consolidated Total Assets” means, for the Consolidated Group as of any date, the assets and properties of such Person and its
Subsidiaries as of such date determined on a consolidated basis in accordance with GAAP. 
  
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which
it or any of its property is bound. 
  
 “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. Without limiting the generality of the foregoing, a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly or indirectly, power to vote 10%
or more of the securities having ordinary voting power for the election of directors, managing general partners or the equivalent. 
  
 “Convertible Notes” means, collectively, the Convertible Notes – 2004 and Convertible Notes – 2008. 
  
 “Convertible Notes – 2004” means the Borrower’s
convertible subordinated notes, due July 1, 2004, by the Borrower in an original principal amount of $172.5 million issued pursuant to the Indenture – 2004. 
  

 7 

 “Convertible Notes – 2008” means the Borrower’s 5% convertible subordinated
notes, due August 15, 2008, issued by the Borrower in an original principal amount of $85 million pursuant to the Indenture – 2008. 
  
 “Credit Agreement” has the meaning provided in the recitals hereto, as the same may be amended and modified from time to time.

  
 “Credit Documents” means this Credit
Agreement, the Notes, the Collateral Documents, the Fee Letter, the Issuer Documents and the Joinder Agreements. 
  
 “Credit Extension” means each of the following: (a) a Borrowing, (b) the conversion or continuation of a Borrowing, and (c) an L/C Credit
Extension. 
  
 “Credit Parties” means,
collectively, the Borrower and the Guarantors. 
  
 “Debt
Transactions” means, with respect to any member of the Consolidated Group, any sale, issuance, placement, assumption or guaranty of Funded Debt, whether or not evidenced by a promissory note or other written evidence of Indebtedness, except
for Funded Debt permitted to be incurred pursuant to clauses (a) through (h) of Section 8.03. 
  
 “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, act or
condition that constitutes and Event of Default or that, with notice, the passage of time, or both, would constitute an Event of Default. 
  
 “Default Rate” means an interest rate equal to (a) with respect to Obligations other than (i) Eurocurrency Rate Loans and (ii) Letter of
Credit Fees, the Base Rate plus the Applicable Percentage, if any, applicable to such Loans plus 2% per annum; (b) with respect to Eurocurrency Rate Loans, the Eurocurrency Rate plus the Applicable Percentage, if any, and
Mandatory Cost, if any, applicable to such Loans plus 2% per annum; and (c) with respect to Letter of Credit Fees, a rate equal to the Applicable Percentage plus 2% per annum. 
  
 “Defaulting Lender” means any Lender that (a) has failed to
fund any portion of the Loans, participations in L/C Obligations or participations in Swingline Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder and has not cured such failure
prior to the date of determination, (b) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good
faith dispute, and has not cured such failure prior to the date of determination, or (c) has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding. 
  
 “Designated Officers” means the officers identified on Schedule 8.02(k). 
  
 “Disposition” or “Dispose” means the sale,
transfer or other disposition (including any Sale and Leaseback Transaction) of any Property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and
claims associated 
  

 8 

 therewith, but excluding, for purposes hereof, (a) Dispositions of obsolete or worn out property, whether now owned or
hereafter acquired, in the ordinary course of business; (b) Dispositions of inventory in the ordinary course of business; (c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the
purchase price of similar replacement property or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property in accordance with the terms hereof; and (d) Dispositions of assets by any Subsidiary to
a Credit Party or another Subsidiary; provided that if the transferor in such transaction is a Domestic Credit Party, then the transferee must be the Borrower or a Domestic Credit Party. 
  
 “Dollar” or “$” means the lawful currency
of the United States. 
  
 “Dollar Equivalent”
means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or
the L/C Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency. 
  
 “Domestic Credit Party” means any Credit Party that is
organized under the laws of any State of the United States or the District of Columbia. 
  
 “Domestic Guarantor” means a Guarantor that is organized under the laws of any State of the United States or the District of Columbia. 
  
 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any State of the United
States or the District of Columbia. 
  
 “Eligible
Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, the L/C Issuer and the Swingline Lender and (ii) unless an
Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower or any of
the Borrower’s Affiliates or Subsidiaries; and provided further, however, that an Eligible Assignee shall include only a Lender, an Affiliate of a Lender or another Person, which, through its Lending Offices, is capable of
lending the applicable Alternative Currencies to the Borrower without the imposition of any Taxes or additional Taxes, as the case may be. 
  
 “EMU” means the economic and monetary union in accordance with the Treaty of Rome 1957, as amended by the Single European Act 1986, the
Maastricht Treaty of 1992 and the Amsterdam Treaty of 1998. 
  
 “EMU Legislation” means the legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European currency. 
  
 “Environmental Laws” means any and all federal, state,
local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or
the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
  

 9 

 “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Credit Party or any of their respective Subsidiaries 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 Transaction” means, with respect to any member of the Consolidated Group, any issuance or sale of
shares of its Capital Stock, other than an issuance (a) to a member of the Consolidated Group, (b) in connection with a conversion of debt securities to equity, (c) in connection with the exercise by a present or former employee, officer, director,
consultant or advisor under a stock incentive plan, stock option plan or other equity-based compensation plan or arrangement, or grants of equity under such equity-based compensation plan or arrangement to an employee, officer, director, consultant
or advisor or (d) in connection with any Acquisition permitted hereunder. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974. 
  
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of
Section 414(b) or (c) of the Internal Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions relating to Section 412 of the Internal Revenue Code). 
  
 “ERISA Event” means (a) a Reportable Event with respect to a
Pension Plan; (b) a withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of
operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d)
the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event
or condition that would reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability
under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 
  
 “Euro” and “EUR” and “€” mean the lawful currency of the Participating Member States introduced in
accordance with the EMU Legislation. 
  
 “Eurocurrency
Rate” means for any Interest Period with respect to a Eurocurrency Rate Loan: 
  
 (a) the applicable Screen Rate for such Interest Period; or 
  
 (b) if the applicable Screen Rate shall not be available, the rate per annum determined by the Administrative Agent as the rate of interest at which deposits in the relevant currency for delivery on the first day of
such Interest Period in Same Day Funds in the approximate amount of the Eurocurrency Rate Loan being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London
Branch (or other Bank of America branch or Affiliate) to major banks in the London or other offshore interbank market for such currency at their request at approximately 4:00 p.m. (London time) two Business Days prior to the first day of such
Interest Period. 
  

 10 

 “Eurocurrency Rate Loan” means a Loan that bears interest at a rate based on the
Eurocurrency Rate. Eurocurrency Rate Loans may be denominated in Dollars or in an Alternative Currency. All Loans denominated in an Alternative Currency must be Eurocurrency Rate Loans. 
  
 “Event of Default” has the meaning provided in Section 9.01. 
  
 “Excluded Property” means (a) unless reasonably requested by
the Administrative Agent or the Required Lenders, with respect to any such personal Property owned by a Domestic Credit Party, on thirty days prior written notice, any personal Property (including motor vehicles) in respect of which perfection of a
Lien is not either (i) governed by the UCC or (ii) effected by appropriate evidence of the Lien being filed in either the United States Copyright Office or the United States Patent and Trademark Office, (b) unless reasonably requested by the
Administrative Agent or the Required Lenders on forty-five (45) days prior written notice, with respect to any such real Property owned by a Domestic Credit Party, any interests in real property, including leasehold interests (with respect to
Domestic Credit Parties, other than landlord consents in respect of material personal property held thereon), (c) any Property that, subject to the terms of Section 8.11, is subject to a Lien permitted under Section 8.01(j) pursuant to
documents that prohibit such Credit Party from granting any other Liens in such Property and (d) any permit, lease, license, contract or instrument now or hereafter in effect of a Credit Party if the grant of a security interest in such permit,
lease, license, contract or instrument in a manner contemplated by this Credit Agreement, under the terms thereof or under applicable Law, is prohibited and would result in the termination thereof or give the other parties thereto the right to
terminate, accelerate or otherwise materially and adversely alter such Credit Party’s rights, titles and interests thereunder (including upon the giving of notice or the lapse of time or both). 
  
 “Excluded Taxes” means, with respect to the Administrative
Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes
imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) 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 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 11.13), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or is
attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.01(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 3.01(a). 
  
 “Existing Credit Agreement” means that certain credit agreement, dated as of November 24, 2003 among PTEK
Holdings, Inc., American Teleconferencing Services, Ltd. and Xpedite Systems, Inc., as borrowers, various financial institutions party thereto, LaSalle Bank National Association, as agent, and Bank of America, N.A., as documentation agent, as
amended prior to the Closing Date. 
  
 “Existing Letters
of Credit” means the letters of credit outstanding on the Closing Date and identified on Schedule 2.03. 
  

 11 

 “Extraordinary Receipts” means the receipt by any member of the Consolidated Group of
any tax refunds, indemnity payments or pension reversions (excluding cash receipts in the ordinary course of business). 
  
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day immediately succeeding such day; provided that (a) if such day is
not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding
Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to the multiple of 1/100th of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent. 
  
 “Fee Letter” means the letter agreement, dated May 10, 2004, among the Borrower, the Administrative Agent and BAS. 
  
 “First-Tier Foreign Subsidiary” means any Foreign Subsidiary
that is owned directly by a Domestic Credit Party. 
  
 “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this definition, the United States, each state thereof
and the District of Columbia shall be deemed to constitute a single jurisdiction. 
  
 “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 
  
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 
  
 “Fund” means any Person (other than a natural person) that
is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
  
 “Funded Debt” means, as to any Person at a particular time, without duplication, all of the following,
whether or not included as indebtedness or liabilities in accordance with GAAP: 
  
 (a) all obligations for borrowed money, whether current or long-term (including the Obligations hereunder), and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

  
 (b) all purchase money indebtedness (including indebtedness
and obligations in respect of conditional sales and title retention arrangements, except for customary conditional sales and title retention arrangements with suppliers that are entered into in the ordinary course of business) and all indebtedness
and obligations in respect of the deferred purchase price of property or services (other than trade accounts payable incurred in the ordinary course of business and payable on customary trade terms); 
  
 (c) all direct obligations under letters of credit (including standby and
commercial), bankers’ acceptances and similar instruments (including bank guaranties, surety bonds, comfort letters, keep-well agreements and capital maintenance agreements) to the extent such instruments or agreements support financial, rather
than performance, obligations; 
  

 12 

 (d) the Attributable Principal Amount of capital leases and Synthetic Leases; 
  
 (e) the Attributable Principal Amount of Securitization Transactions;

  
 (f) all preferred stock and comparable equity interests
providing for mandatory redemption, sinking fund or other like payments; 
  
 (g) Support Obligations in respect of Funded Debt of another Person; and 
  
 (h) Funded Debt of any partnership or joint venture or other similar entity in which such Person is a general partner or joint venturer, and, as such, has
personal liability for such obligations, but only to the extent there is recourse to such Person for payment thereof. 
  
 For purposes hereof, the amount of Funded Debt shall be determined (i) based on the outstanding principal amount in the case of borrowed money indebtedness under clause
(a) and purchase money indebtedness and the deferred purchase obligations under clause (b), (ii) based on the maximum amount available to be drawn in the case of letter of credit obligations and the other obligations under clause
(c), and (iii) based on the amount of Funded Debt that is the subject of the Support Obligations in the case of Support Obligations under clause (g). 
  
 “GAAP” means generally accepted accounting principles in effect in the United States as set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board, the Public Company Accounting Oversight Board
and the SEC from time to time applied on a consistent basis, subject to the provisions of Section 1.03. 
  
 “Governmental Authority” means the government of the United States or any other nation, or of 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
(including any supra-national bodies such as the European Union or the European Central Bank). 
  
 “Guaranteed Obligations” has the meaning provided in Section 4.01(a). 
  
 “Guarantors” means, collectively, each Person identified on the signature pages hereto as a “Guarantor” and each other Person
that becomes a Guarantor pursuant to the terms hereof, in each case together with their successors and permitted assigns. 
  
 “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, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any
Environmental Law. 
  
 “Honor Date” has the
meaning provided in Section 2.03(c)(i). 
  
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
  
 (a) all Funded Debt; 
  

 13 

 (b) all contingent obligations under letters of credit (including standby and commercial), bankers’
acceptances and similar instruments (including bank guaranties, surety bonds, comfort letters, keep-well agreements and capital maintenance agreements) to the extent such instruments or agreements support financial, rather than performance,
obligations; 
  
 (c) net obligations under any Swap Contract;

  
 (d) Support Obligations in respect of Indebtedness of another
Person; and 
  
 (e) Indebtedness of any partnership or joint
venture or other similar entity in which such Person is a general partner or joint venturer, and, as such, has personal liability for such obligations, but only to the extent there is recourse to such Person for payment thereof. 
  
 For purposes hereof, the amount of Indebtedness shall be determined (i) based on Swap
Termination Value in the case of net obligations under Swap Contracts under clause (c) and (ii) based on the outstanding principal amount of the Indebtedness that is the subject of the Support Obligations in the case of Support Obligations
under clause (d). 
  
 “Indemnified Taxes”
means Taxes other than Excluded Taxes. 
  
 “Indemnitees” has the meaning provided in Section 11.04(b). 
  
 “Indenture – 2004” means that certain indenture, dated as of June 15, 1997, between the Borrower, formerly known as Premiere Technologies, Inc., a Georgia corporation, and IBJ Schroder Bank &
Trust Company, as trustee for the benefit of the holders of the Convertible Notes – 2004, and all amendments and modifications thereof prior to the date hereof or permitted hereunder. 
  
 “Indenture – 2008” means that certain indenture, dated
as of August 12, 2003, between the Borrower and SunTrust Bank, as trustee for the benefit of the holders of the Convertible Notes – 2008, and all amendments and modifications thereof prior to the date hereof or permitted hereunder. 

 
 “Interest Payment Date” means, (a) as to any Base Rate
Loan (including Swingline Loans), the last Business Day of each March, June, September and December, the Revolving Termination Date and, in the case of any Swingline Loan, any other dates as may be mutually agreed upon by the Borrower and the
Swingline Lender, and (b) as to any Eurocurrency Rate Loan, the last Business Day of each Interest Period for such Loan, the date of repayment of principal of such Loan, the Revolving Termination Date and in addition, where the applicable Interest
Period exceeds three months, the date every three months after the beginning of such Interest Period. If an Interest Payment Date falls on a date that is not a Business Day, such Interest Payment Date shall be deemed to be the immediately succeeding
Business Day. 
  
 “Interest Period” means, as to
each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the
Borrower in its Loan Notice; provided that: 
  
 (a) any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the immediately succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the
immediately preceding Business Day; 
  

 14 

 (b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 
  
 (c) no Interest Period with respect to any Revolving Loan shall extend beyond
the Revolving Termination Date. 
  
 “Internal Revenue
Code” means the Internal Revenue Code of 1986, as amended. 
  
 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Capital Stock of another Person, (b) a loan, advance or
capital contribution to, guaranty or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any
arrangement pursuant to which the investor undertakes any Support Obligation with respect to Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person
that constitute a business unit. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 
  
 “Involuntary Disposition” means the receipt by any member of
the Consolidated Group of any cash insurance proceeds or condemnation awards payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of its Property. 
  
 “IP Rights” has the meaning provided in Section 6.20.

  
 “IRS” means the United States Internal
Revenue Service. 
  
 “ISP” means, with respect to
any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance of such Letter of Credit).

  
 “Issuer Documents” means, with respect to any
Letter of Credit, the L/C Application and any other document, agreement or instrument (including such Letter of Credit) entered into by the Borrower (or any Subsidiary) and the L/C Issuer (or in favor of the L/C Issuer), relating to such Letter of
Credit. 
  
 “Joinder Agreement” means a joinder
agreement substantially in the form of Exhibit 7.12 executed and delivered in accordance with the provisions of Section 7.12. 
  
 “Laws” means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations,
ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all
applicable administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority. 
  
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing. All L/C Advances
shall be denominated in Dollars. 
  

 15 

 “L/C Application” means an application and agreement for the issuance or amendment of a
Letter of Credit in the form from time to time in use by the L/C Issuer. 
  
 “L/C Borrowing” means any extension of credit resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans. All L/C Borrowings shall
be denominated in Dollars. 
  
 “L/C Commitment”
means, with respect to the L/C Issuer, the commitment of the L/C Issuer to issue and to honor payment obligations under Letters of Credit, and, with respect to each Lender, the commitment of such Lender to purchase participation interests in L/C
Obligations up to such Lender’s Revolving Commitment Percentage thereof. 
  
 “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. 
  
 “L/C Expiration Date” means the day that is seven days prior
to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the immediately preceding Business Day). 
  
 “L/C Issuer” means (a) as to Existing Letters of Credit, those Lenders identified as an issuer on Schedule 2.03, and (b) as to
Letters of Credit issued hereunder, Bank of America in its capacity as issuer of Letters of Credit hereunder, in each case together with its successors in such capacity. 
  
 “L/C Obligations” means, at any time, the sum of (a) the maximum amount available to be drawn under Letters
of Credit then outstanding, assuming compliance with all requirements for drawings referenced therein, plus (b) the aggregate amount of all Unreimbursed Amounts, including L/C Borrowings. For all purposes of this Credit Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining
available to be drawn. 
  
 “L/C Sublimit” has the
meaning provided in Section 2.01(b). 
  
 “Lender” means each of the Persons identified as a “Lender” on the signature pages hereto (and, as appropriate, includes the Swingline Lender), together with their respective successors and assigns. 
  
 “Lending Office” means, as to any Lender, the office or
offices of such Lender set forth in such Lender’s Administrative Questionnaire or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 
  
 “Letter of Credit” means each Existing Letter of Credit and
each standby letter of credit issued hereunder. Letters of Credit may be issued in Dollars or in an Alternative Currency. 
  
 “Letter of Credit Fee” has the meaning provided in Section 2.09(b)(i). 
  
 “Lien” means any mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention
agreement, any easement, right of way or other encumbrance on title to real property and any financing lease having substantially the same economic effect as any of the foregoing). 
  

 16 

 “Loan” means any Revolving Loan or Swingline Loan and the Base Rate Loans and
Eurocurrency Rate Loans comprising such Loans. 
  
 “Loan
Notice” means a notice of (a) a Borrowing of Loans (including Swingline Loans), (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, which, if in writing, shall be substantially in the form
of Exhibit 2.02. 
  
 “Loan Obligations”
means the Revolving Obligations. 
  
 “Make-Whole
Amount” means the sum of the aggregate amount of the Interest Make-Whole Payment (as such term is defined in the Indenture – 2008) due under the terms of the Convertible Notes – 2008 and paid in cash in connection with the
conversion of the Convertible Notes – 2008 to common stock of the Borrower. 
  
 “Mandatory Cost” means, with respect to any period, the percentage rate per annum determined in accordance with Schedule 1.01-1. 
  
 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the
operations, business, assets, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Consolidated Group taken as a whole; (b) a material impairment of the ability of any Credit Party to perform its
obligations under any Credit Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or the enforceability against any Credit Party of any Credit Document to which it is a party. 
  
 “Material Foreign Subsidiary” means (i) any First-Tier
Foreign Subsidiary that, individually, owns and holds (including through its direct and indirect Subsidiaries) two percent (2%) or more of the Consolidated Tangible Assets and (ii) when there are First-Tier Foreign Subsidiaries whose Capital Stock
is not pledged pursuant to Section 7.14 and which, as a group (including through their direct and indirect Subsidiaries) have twelve percent (12%) or more of the Consolidated Tangible Assets, then the Capital Stock of one or more of such
First-Tier Foreign Subsidiaries (of the Borrower’s choice) must be pledged pursuant to Section 7.14, such that after giving effect to such pledge, the foregoing threshold amount is not met or exceeded. 
  
 “Moody’s” means Moody’s Investors Service, Inc.
and any successor thereto. 
  
 “Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been
obligated to make contributions. 
  
 “Net Cash
Proceeds” means the aggregate proceeds paid in cash or Cash Equivalents received by any member of the Consolidated Group in connection with any Disposition, Debt Transaction, Equity Transaction or Securitization Transaction, net of (a)
direct costs (including legal, accounting and investment banking fees, sales commissions and underwriting discounts) and all title and recording expenses), (b) all federal, state, provincial, foreign and local taxes required to be accrued as a
liability as a consequence of such Disposition, (c) all payments made by such Person or the Consolidated Group on any Funded Debt that (i) is secured by the assets subject to such Disposition in accordance with the terms of any Lien upon or with
respect to such assets or must, by the terms of such Lien or by applicable law, be repaid out of the proceeds from such Disposition and (d) a reasonable reserve for the after-tax costs of any indemnification payments (fixed or contingent)
attributable to the seller’s indemnities to the purchaser 
  

 17 

 undertaken by any of the Consolidated Group in connection with such Disposition. Upon release from reserve or escrow or
payment of any amounts referred to in (d) that are released or paid to the Consolidated Group or any reduction in the amount of taxes required to be accrued pursuant to (b) resulting in a payment to the Consolidated Group, such amounts
shall then be deemed to be “Net Cash Proceeds”. For purposes hereof, “Net Cash Proceeds” includes any cash or Cash Equivalents received upon the disposition of any non-cash consideration received by any member of the Consolidated
Group in any Disposition, Debt Transaction, Equity Transaction or Securitization Transaction. 
  
 “Notes” means the Revolving Notes. 
  
 “Obligations” means, without duplication, (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Credit Party arising under any Credit 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 any Credit 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, (b) all obligations under any Swap Contract between any Credit Party and any Lender or Affiliate of a Lender to the extent permitted hereunder and (c) all obligations under any Treasury Management Agreement between any Credit Party and
any Lender or Affiliate of a Lender. 
  
 “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 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 under any other Credit Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Credit Agreement or any other Credit Document. 
  
 “Outstanding Amount” means (i) with respect to Loans on any
date, the Dollar Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Loans occurring on such date; (ii) with respect to Swingline Loans on any date, the
aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Swingline Loans occurring on such date; and (iii) with respect to any L/C Obligations on any date, the Dollar Equivalent
amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as
a result of any reimbursements by the Borrower of Unreimbursed Amounts. 
  
 “Overnight Rate” means, for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent, the L/C Issuer, or the
Swingline Lender, as the case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, the 
  

 18 

 rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately
equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the applicable offshore interbank market for such currency to major banks in such interbank market.

  
 “Participant” has the meaning specified in
Section 11.06(d). 
  
 “Participating Member
State” means each state so described in any EMU Legislation. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation. 
  
 “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is
sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA,
has made contributions at any time during the immediately preceding five plan years. 
  
 “Permitted Acquisition” means any Acquisition that satisfies the following conditions: 
  
 (a) the business or division acquired is for use, or the Person acquired is engaged, in businesses reasonably related or complementary to the extent
reasonably comparable to the lines of business engaged in by the Borrower and its Subsidiaries on the Closing Date; 
  
 (b) the aggregate cost of such Acquisition in cash, assumed debt and the value of equity, but net of unrestricted cash on the balance sheet of the Person
being acquired, shall not exceed an amount equal to (i) if the Consolidated Leverage Ratio, on a Pro Forma Basis, is equal to or greater than 1.0 to 1.0, 100% of Consolidated EBITDA, determined as of the most recent fiscal quarter end for the most
recently ended twelve month period; provided that the portion of such aggregate cost to be paid with cash or assumption of debt shall not exceed an amount equal to 50% of Consolidated EBITDA, determined as of the most recent fiscal quarter
end for the most recently ended twelve month period or (ii) if the Consolidated Leverage Ratio, on a Pro Forma Basis, is less than 1.0 to 1.0, 150% of Consolidated EBITDA, determined as of the most recent fiscal quarter end for the most recently
ended twelve month period; provided that the portion of such aggregate cost to be paid with cash or assumption of debt shall not exceed an amount equal to 100% of Consolidated EBITDA, determined as of the most recent fiscal quarter end for the most
recently ended twelve month period; 
  
 (c) in the case of an
Acquisition of the Capital Stock, the board of directors (or other comparable governing body) of such other Person shall have approved the Acquisition; and 
  
 (d) (A) no Default or Event of Default shall exist and be continuing immediately before or immediately after giving effect thereto, (B) the Consolidated
Group shall be in compliance with the financial covenants hereunder after giving effect thereto on a Pro Forma Basis, and (C) a Responsible Officer of the Borrower shall provide a compliance certificate, in form and substance satisfactory to the
Administrative Agent, affirming compliance with each of the items set forth in clauses (a) through (d) hereof, (i) at least two (2) Business Days prior to the consummation of such Acquisition if proceeds of Loans hereunder are utilized
to consummate such Acquisition or (ii) not later than ten (10) Business Days after the consummation of such Acquisition if no proceeds of Loans hereunder are utilized to consummate such Acquisition. 
  

 19 

 “Permitted Liens” means Liens permitted pursuant to Section 8.01. 
  
 “Person” means any natural person, corporation, limited
liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
  
 “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established by the Borrower or,
with respect to any such plan that is subject to Section 412 of the Internal Revenue Code or Title IV of ERISA, any ERISA Affiliate. 
  
 “Pledge Agreement” means the pledge agreement dated as of the Closing Date given by the Credit Parties, as pledgors, to the Collateral
Agent to secure the Obligations, and any other pledge agreements that may be given by any Person pursuant to the terms hereof (including those relating to the pledge of Capital Stock of Material Foreign Subsidiaries), in each case as the same may be
amended and modified from time to time. 
  
 “Pro Forma
Basis” means, with respect to any transaction, for purposes of determining the applicable pricing level under the definition of “Applicable Percentage” and determining compliance with the Consolidated Leverage Ratio in Section
8.12(c), that such transaction shall be deemed to have occurred as of the first day of the period of four consecutive fiscal quarters ending as of the end of the most recent fiscal quarter for which annual or quarterly financial statements shall
have been delivered in accordance with the provisions hereof. Further, for purposes of making calculations on a “Pro Forma Basis” hereunder, (a) in the case of any Disposition, income statement items (whether positive or negative)
attributable to the property, entities or business units that are the subject of such Disposition shall be excluded to the extent relating to any period prior to the date thereof and (b) in the case of any Acquisition, merger or consolidation,
income statement items (whether positive or negative) attributable to the property, entities or business units that are the subject thereof shall be included to the extent relating to any period prior to the date thereof and are supported by audited
financial information (subject to such adjustments made available to the Administrative Agent and Required Lenders, if any) and other information reasonably acceptable to the Administrative Agent. 
  
 “Property” means an interest of any kind in any property or
asset, whether real, personal or mixed, and whether tangible or intangible. 
  
 “Register” has the meaning provided in Section 11.06(c). 
  
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees,
agents and advisors of such Person and of such Person’s Affiliates. 
  
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the thirty-day notice period has been waived. 
  
 “Request for Credit Extension” means (a) with respect to a
Borrowing of Loans (including Swingline Loans) or the conversion or continuation of Loans, a Loan Notice and (b) with respect to an L/C Credit Extension, a L/C Application. 
  
 “Required Lenders” means, as of any date of determination, Lenders having at least 66 2/3% of the Aggregate Commitments or, if the Commitments shall have expired or been terminated, Lenders holding in the
aggregate at least 66 2/3% of the Loan Obligations (including, in each case, the aggregate amount of each
Lender’s risk participation and funded participation in L/C Obligations and Swingline Loans); provided that the commitments of, and the portion of the Loan Obligations held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders. 
  

 20 

 “Responsible Officer” means the chief executive officer, president, chief financial
officer, treasurer, assistant treasurer or secretary of a Credit Party. Any document delivered hereunder that is signed by a Responsible Officer of a Credit Party shall be conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of such Credit Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Credit Party. 
  
 “Restricted Payment” means (i) any dividend or other distribution (whether in cash, securities or other
property) with respect to any Capital Stock of any member of the Consolidated Group, (ii) 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 Capital Stock or of any option, warrant or other right to acquire any such Capital Stock or (iii) any prepayment, redemption, defeasance, repurchase or other payment of principal prior to the
stated maturity on any Subordinated Debt. 
  
 “Revaluation
Date” means (a) with respect to any Loan, each of the following: (i) each date of a Borrowing of a Eurocurrency Rate Loan denominated in an Alternative Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in an
Alternative Currency pursuant to Section 2.02, and (iii) such additional dates as the Administrative Agent shall determine or the Required Lenders shall require; and (b) with respect to any Letter of Credit, each of the following: (i) each
date of issuance of a Letter of Credit denominated in an Alternative Currency, (ii) each date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount) or extending
the expiry date thereof, (iii) each date of any payment by the L/C Issuer under any Letter of Credit denominated in an Alternative Currency, (iv) in the case of the Existing Letters of Credit, the Closing Date, and (v) such additional dates as the
Administrative Agent or the L/C Issuer shall determine or the Required Lenders shall require. 
  
 “Revolving Commitment” means the commitment of each Lender to make Revolving Loans (and to share in Revolving Obligations) hereunder. 
  
 “Revolving Commitment Period” means the period from and including the Closing Date to the earlier of (a)(i)
in the case of Revolving Loans and Swingline Loans, the Revolving Termination Date or (ii) in the case of the Letters of Credit, the L/C Expiration Date, or (b) in each case, the date on which the Revolving Commitments shall have been terminated as
provided herein. 
  
 “Revolving Commitment
Period” means the period from and including the Closing Date to the earlier of (a)(i) in the case of Revolving Loans and Swingline Loans, the Revolving Termination Date or (ii) in the case of the Letters of Credit, the L/C Expiration Date,
or (b) in each case, the date on which the Revolving Commitments shall have been terminated as provided herein. 
  
 “Revolving Committed Amount” means, for each Lender, the amount of such Lender’s Revolving Commitment. The initial Revolving
Committed Amounts are set out in Schedule 2.01. 
  
 “Revolving Loan” has the meaning provided in Section 2.01(a). 
  
 “Revolving Notes” means (a) the promissory notes, if any, given to evidence the Revolving Loans, as amended, restated, modified, supplemented, extended, renewed or replaced and (b) the Swingline Note.
A form of Revolving Note is attached as Exhibit 2.13-1. 
  

 21 

 “Revolving Obligations” means the Revolving Loans, the L/C Obligations and the Swingline
Loans. 
  
 “Revolving Termination Date” means
June 30, 2007. 
  
 “S&P” means Standard &
Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto. 
  
 “Sale and Leaseback Transaction” means, with respect to the Borrower or any Subsidiary, any arrangement, directly or indirectly, with any
Person (other than a Credit Party) whereby the Borrower or such Subsidiary shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or
other property that it intends to use for substantially the same purpose or purposes as the property being sold or transferred. 
  
 “Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available funds, and (b) with respect to
disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the Administrative Agent or the L/C Issuer, as the case may be, to be customary in the place of disbursement or payment for the settlement of
international banking transactions in the relevant Alternative Currency. 
  
 “Screen Rate” means, for any Interest Period: 
  
 (a) the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate that appears on the page of the Telerate screen (or
any successor thereto) that displays an average British Bankers Association Interest Settlement Rate for deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period,
determined as of approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period; or 
  
 (b) if the rate referenced in the preceding clause (a) does not appear on such page or service or such page or service shall cease to be available, the
rate per annum equal to the rate determined by the Administrative Agent to be the offered rate on such other page or other service that displays an average British Bankers Association Interest Settlement Rate for deposits in the relevant currency
(for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period. 
  
 “SEC” means the Securities and Exchange Commission, or any
Governmental Authority succeeding to any of its principal functions. 
  
 “Securitization Transaction” means any financing or factoring or similar transaction (or series of such transactions) entered by any member of the Consolidated Group pursuant to which such member of the Consolidated Group
may sell, convey or otherwise transfer, or grant a security interest in, accounts, payments, receivables, rights to future lease payments or residuals or similar rights to payment (the “Securitization Receivables”) to a special
purpose subsidiary or affiliate (a “Securitization Subsidiary”) or any other Person. 
  
 “Security Agreement” means the security agreement dated as of the Closing Date given by the Credit Parties, as grantors, to the
Collateral Agent to secure the Obligations, and any other security agreements that may be given by any Person pursuant to the terms hereof, in each case as the same may be amended and modified from time to time. 
  

 22 

 “Special Notice Currency” means at any time an Alternative Currency, other than the
currency of a country that is a member of the Organization for Economic Cooperation and Development at such time located in North America or Europe. 
  
 “Spot Rate” for a currency means the rate determined by the Administrative Agent or the L/C Issuer, as applicable, to be the rate quoted
by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two Business Days prior to
the date as of which the foreign exchange computation is made; provided that the Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution designated by the Administrative Agent or the L/C Issuer if
the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided further that the L/C Issuer may use such spot rate quoted on the date as of which the foreign
exchange computation is made in the case of any Letter of Credit denominated in an Alternative Currency. 
  
 “British Pounds Sterling” and “£” mean the lawful currency of the United Kingdom. 
  
 “Subordinated Debt” means (i) the Indebtedness evidenced by
the Convertible Notes and (ii) any Indebtedness of a member of the Consolidated Group that by its terms is expressly subordinated in right of payment to the prior payment of the Loan Obligations on terms and conditions, and evidenced by
documentation, satisfactory to the Administrative Agent and the Required Lenders. 
  
 “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having
ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise provided, “Subsidiary” shall refer to a Subsidiary of the Borrower. 
  
 “Support Obligations” means, as to any Person, any (a) any
obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property,
securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner
the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any
Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person. The amount of any Support Obligations shall be deemed to be an amount equal to the stated or determinable amount of
the related primary obligation, or portion thereof, in respect of which such Support Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in
good faith. 
  

 23 

 “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or
forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot
contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any
and all transactions of any kind, and the related confirmations, that are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International
Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

  
 “Swap Termination Value” means, in respect of
any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination values
determined in accordance therewith, such termination values, and (b) for any date prior to the date referenced in clause (a), the amounts determined as the mark-to-market values for such Swap Contracts, as determined based upon one or more
mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
  
 “Swingline Borrowing” means a borrowing of a Swingline Loan pursuant to Section 2.01(c). 

 
 “Swingline Commitment” means, with respect to the
Swingline Lender, the commitment of the Swingline Lender to make Swingline Loans, and with respect to each Lender, the commitment of such Lender to purchase participation interests in Swingline Loans. 
  
 “Swingline Lender” means Bank of America in its capacity as
such, together with any successor in such capacity. 
  
 “Swingline Loan” has the meaning provided in Section 2.01(c). 
  
 “Swingline Note” means the promissory note given to evidence the Swingline Loans, as amended, restated, modified, supplemented, extended, renewed or replaced. A form of Swingline Note is attached as
Exhibit 2.13-2. 
  
 “Swingline Sublimit”
has the meaning provided in Section 2.01(c). 
  
 “Synthetic Lease” means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing arrangement that is considered borrowed money indebtedness for tax purposes but is
classified as an operating lease under GAAP. 
  
 “TARGET
Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any) reasonably determined by the
Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 
  

 24 

 “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
  
 “Total Plan Liability” means, at any time, the present value of all vested and unvested accrued benefits
under all Pension Plans, determined as of the then most recent valuation date for each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations. 
  
 “Treasury Management Agreement” means any agreement governing the provision of treasury or cash management
services, including deposit accounts, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services. 
  
 “Type” means, with respect to any Revolving Loan, its
character as a Base Rate Loan or a Eurocurrency Rate Loan. 
  
 “UCC” means the Uniform Commercial Code in effect in any applicable jurisdiction from time to time. 
  
 “Unfunded Pension Liability” means the amount (if any) by which the present value of all vested and unvested accrued benefits under all
Pension Plans exceeds the fair market value of all assets allocable to those benefits, all determined as of the then most recent valuation date for each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

  
 “United States” or “U.S.”
means the United States of America. 
  
 “Unreimbursed
Amount” has the meaning provided in Section 2.03(c)(i). 
  
 “Wholly Owned” means, with respect to any direct or indirect Subsidiary of any Person, that 100% of the Capital Stock with ordinary voting power issued by such Subsidiary (other than directors’ qualifying shares and
investments by foreign nationals mandated by applicable Law) is beneficially owned, directly or indirectly, by such Person. 
  
 “Yen” and “¥” mean the lawful currency of Japan. 
  
 1.02 Interpretive Provisions. 
  
 With reference to this Credit Agreement and each other Credit Document, unless otherwise specified herein or in such other
Credit Document: 
  
 (a) 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, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) 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 or in any other Credit Document), (ii) any reference herein to any Person

  

 25 

 shall be construed to include such Person’s successors and assigns, (iii) the words “herein”,
“hereof” and “hereunder,” and words of similar import when used in any Credit Document, shall be construed to refer to such Credit Document in its entirety and not to any particular provision thereof, (iv) all
references in a Credit Document to “Articles”, “Sections”, “Exhibits” and “Schedules” shall be construed to refer to articles and sections of, and exhibits and schedules to, the
Credit Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending replacing or interpreting such law and any reference to any law or regulation shall, unless
otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) 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. 
  
 (b) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and
including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 
  
 (c) Section headings herein and in the other Credit Documents are included
for convenience of reference only and shall not affect the interpretation of this Credit Agreement or any other Credit Document. 
  
 1.03 Accounting Terms and Provisions. 
  
 (a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial
ratios and other financial calculations) required to be submitted pursuant to this Credit Agreement shall be prepared in conformity with, GAAP applied on a consistent basis (except for such changes approved by the Borrower’s independent public
accountants), as in effect from time to time, applied in a manner consistent with that used in preparing the audited financial statements referenced in Section 5.01(d), except as otherwise specifically prescribed herein. 
  
 (b) Notwithstanding any provision herein to the contrary, determinations of
(i) the applicable pricing level under the definition of “Applicable Percentage” and (ii) compliance with the financial covenants shall be made on a Pro Forma Basis. 
  
 (c) The Borrower will provide a written summary of material changes in GAAP or in the consistent application thereof with
each annual and quarterly Compliance Certificate delivered in accordance with Section 7.02(b) that affect computation of the financial covenants and other calculations hereunder. If at any time any change in GAAP or in the consistent
application thereof would affect the computation of any financial ratio or requirement set forth in any Credit Document, and either the Borrower or the Required Lenders shall object in writing to determining compliance based on such change, then
such computations shall continue to be made on a basis consistent with the most recent financial statements delivered pursuant to Section 7.01(a) or (b) as to which no such objection has been made. 
  
 1.04 Rounding. 
  
 Any financial ratios required to be maintained by the Borrower pursuant to
this Credit Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the
nearest number (with a rounding-up if there is no nearest number). 
  

 26 

 1.05 Exchange Rates; Currency Equivalents. 
  
 (a) The Administrative Agent or the L/C Issuer, as applicable, shall
determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective as of such
Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or
calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Credit Documents shall be such Dollar Equivalent amount as so determined by the
Administrative Agent or the L/C Issuer, as applicable. 
  
 (b)
Wherever in this Credit Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Eurocurrency Rate Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple
amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the
nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent or the L/C Issuer, as the case may be. 
  
 1.06 Additional Alternative Currencies. 
  
 (a) The Borrower may from time to time request that Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a
currency other than those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and
convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and the Lenders; and in the case of any such request with
respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer. 
  
 (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., 20 Business Days prior to the date of the desired Credit
Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to
Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the L/C Issuer thereof. Each Lender (in
the case of any such request pertaining to Eurocurrency Rate Loans) or the L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten Business Days after receipt of
such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. 
  
 (c) Any failure by a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period
specified in the preceding sentence shall be deemed to be a refusal by such Lender or the L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the
Administrative Agent and all the Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative
Currency 
  

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 hereunder for purposes of any Borrowings of Eurocurrency Rate Loans; and if the Administrative Agent and the L/C Issuer
consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any
Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.05, the Administrative Agent shall promptly so notify the Borrower. Any specified currency of
an Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies specifically listed in the definition of “Alternative Currency” shall be deemed an Alternative Currency with respect to such Existing Letter of
Credit only. 
  
 1.07 Change of Currency.

  
 (a) Each obligation of the Borrower to make a payment
denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with the EMU
Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Credit Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank
market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided
that if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Borrowing, at the end of the then current Interest Period. 
  
 (b) Each provision of this Credit Agreement shall be subject to such
reasonable changes of construction as the Administrative Agent may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to
the Euro. 
  
 (c) Each provision of this Credit Agreement also
shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to
the change in currency. 
  
 1.08 Times of Day.

  
 Unless otherwise provided, all references herein to times
of day shall be references to Eastern time (daylight or standard, as applicable). 
  
 1.09 Letter of Credit Amounts. 
  
 Unless otherwise provided, all references herein to the amount of a Letter of Credit at any time shall be deemed to mean the Dollar Equivalent of the maximum face amount of such Letter of Credit after giving effect to
all increases thereof contemplated by such Letter of Credit or the Issuer Documents related thereto, whether or not such maximum face amount is in effect at such time. 
  

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 ARTICLE II 
  
 COMMITMENTS AND CREDIT EXTENSIONS 
  
 2.01 Commitments. 
  
 Subject to the terms and conditions set forth herein: 
  
 (a) Revolving Loans. During the Revolving Commitment Period, each Lender severally agrees to make revolving credit loans (the “Revolving
Loans”) to the Borrower in Dollars or in one or more Alternative Currencies, from time to time, on any Business Day; provided that after giving effect to any such Revolving Loan, (i) with regard to the Lenders collectively, the
Outstanding Amount of Revolving Obligations shall not exceed ONE HUNDRED TWENTY MILLION DOLLARS ($120,000,000) (as such amount may be decreased in accordance with the provisions hereof, the “Aggregate Revolving Committed Amount”),
(ii) with regard to each Lender individually, such Lender’s Revolving Commitment Percentage of Revolving Obligations shall not exceed its respective Revolving Committed Amount and (iii) the aggregate Outstanding Amount of all Loans denominated
in Alternative Currencies shall not exceed TWENTY-FIVE MILLION DOLLARS ($25,000,000) (the “Alternative Currency Sublimit”). Revolving Loans may consist of Base Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the
Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. 
  
 (b) Letters of Credit. During the Revolving Commitment Period, (i) the L/C Issuer, in reliance upon the commitments of the Lenders set forth
herein, agrees (A) to issue Letters of Credit denominated in Dollars or in one or more Alternative Currencies for the account of the Borrower or any member of the Consolidated Group on any Business Day, (B) to amend or extend Letters of Credit
previously issued hereunder, and (C) to honor drawings under Letters of Credit; and (ii) the Lenders severally agree to purchase from the L/C Issuer a participation interest in the Existing Letters of Credit and Letters of Credit issued hereunder in
an amount equal to such Lender’s Revolving Commitment Percentage thereof; provided that (A) the Outstanding Amount of L/C Obligations shall not exceed FIFTEEN MILLION DOLLARS ($15,000,000) (as such amount may be decreased in accordance
with the provisions hereof, the “L/C Sublimit”), (B) with regard to the Lenders collectively, the Outstanding Amount of Revolving Obligations shall not exceed the Aggregate Revolving Committed Amount, and (C) with regard to each
Lender individually, such Lender’s Revolving Commitment Percentage of Revolving Obligations shall not exceed its respective Revolving Committed Amount. Subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of
Credit shall be fully revolving, and accordingly the Borrower may obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. Existing Letters of Credit shall be deemed to have been issued
hereunder and shall be subject to and governed by the terms and conditions hereof. 
  
 (c) Swingline Loans. During the Revolving Commitment Period, the Swingline Lender agrees, in reliance upon the commitments of the other Lenders set forth herein, to make revolving credit loans (the
“Swingline Loans”) to the Borrower on any Business Day; provided that (i) the Outstanding Amount of Swingline Loans shall not exceed TWO MILLION DOLLARS ($2,000,000) (as such amount may be decreased in accordance with the
provisions hereof, the “Swingline Sublimit”) and (ii) with respect to the Lenders collectively, the Outstanding Amount of Revolving Obligations shall not exceed the Aggregate Revolving Committed Amount. Swingline Loans shall be
comprised solely of Base Rate Loans, and may be repaid and reborrowed in accordance with the provisions hereof. Immediately upon the making of a Swingline Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Swingline Lender a participation interest in such Swingline Loan in an amount equal to the product of such Lender’s Revolving Commitment Percentage thereof. 
  

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 2.02 Borrowings, Conversions and Continuations. 
  
 (a) Each Borrowing, each conversion of Loans from one Type to the other, and
each continuation of Eurocurrency Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00
a.m. (i) with respect to Eurocurrency Rate Loans denominated in Dollars or any conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, three Business Days prior to the requested date thereof, (ii) four Business Days (or five
Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, (iii) with respect to Base Rate Loans, on the requested date of,
any Borrowing, conversion or continuation; provided, however, that if the Borrower wishes to request Eurocurrency Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition
of “Interest Period”, the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. (1) four Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans
denominated in Dollars or (2) five Business Days (or six Business Days in the case of a Special Notice Currency) prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative
Currencies, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., (i) three Business Days before the
requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Dollars, or (ii) four Business Days (or five Business days in the case of a Special Notice Currency) prior to the requested date of such
Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been
consented to by all the Lenders. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a
Responsible Officer of the Borrower. Except as provided in Sections 2.03(c) and 2.04(a), each Borrowing, conversion or continuation shall be in a principal amount of (i) with respect to Eurocurrency Rate Loans, $1 million or a whole
multiple of $500,000 in excess thereof or (ii) with respect to Base Rate Loans, $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower’s request is
with respect to Revolving Loans or Swingline Loans, (ii) whether such request is for a Borrowing, conversion, or continuation, (iii) the requested date of such Borrowing, conversion or continuation (which shall be a Business Day), (iv) the principal
amount of Loans to be borrowed, converted or continued, (v) the Type of Loans to be borrowed, converted or continued, and (vi) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan
in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any automatic conversion to Base Rate Loans shall be effective
as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any Loan Notice, but fails to
specify an Interest Period, the Interest Period will be deemed to be one month. 
  
 (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its pro rata share of the applicable Loans, and if no timely notice of a conversion or continuation
is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. In the case 
  

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 of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately
available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 5.02 (and, if such Borrowing
is the initial Credit Extension, Section 5.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on
the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided,
however, that if on the date of such Borrowing there are L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such L/C Borrowings, and second, to the Borrower as
provided above. 
  
 (c) Except as otherwise provided herein,
without the consent of the Required Lenders, (i) a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan and (ii) any conversion into, or continuation as, a Eurocurrency Rate
Loan may be made only if the conditions to Credit Extensions in Section 5.02 have been satisfied. During the existence of a Default or Event of Default, (1) no Loan may be requested as, converted to or continued as a Eurocurrency Rate Loan
(whether in Dollars or any Alternative Currency) and (2) at the request of the Required Lenders, any outstanding Eurocurrency Rate Loan shall be converted to a Base Rate Loan on the last day of the Interest Period with respect thereto. 

 
 (d) The Administrative Agent shall promptly notify the Borrower and the
Lenders of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be conclusive in the absence of
manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public
announcement of such change. 
  
 (e) After giving effect to all
Borrowings, conversions and continuations of Revolving Loans, there shall not be more than ten (10) Interest Periods in effect with respect to Revolving Loans. 
  

2.03 Additional Provisions with respect to Letters of Credit. 
  
 (a) Obligation to Issue or Amend. 
  
 (i) The L/C Issuer shall not issue any Letter of Credit if: 
  
 (A) the expiry date of such requested Letter of Credit would
occur more than twelve months after the date of issuance, unless the Required Lenders have approved such expiry date; or 
  
 (B) the expiry date of such requested Letter of Credit would occur after the L/C Expiration Date, unless all the Lenders have approved
such expiry date; or 
  
 (ii) The L/C Issuer
shall not be under any obligation to issue any Letter of Credit if: 
  
 (A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer
or any request or directive 
  

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 (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C
Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve
or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense that was not applicable on the Closing Date and
that the L/C Issuer in good faith deems material to it; 
  
 (B) the issuance of such Letter of Credit would violate any Law or one or more policies of the L/C Issuer; 
  
 (C) except as otherwise agreed by the L/C Issuer and the Administrative Agent, such Letter of Credit is in an initial face amount less
than $500,000; 
  
 (D) except as otherwise agreed
by the Administrative Agent, such Letter of Credit is to be denominated in a currency other than Dollars or an Alternative Currency; 
  
 (E) the L/C Issuer does not as of the issuance date of such requested Letter of Credit issue Letters of Credit in the requested currency;

  
 (F) such Letter of Credit contains provisions
for automatic reinstatement of the stated amount after any drawing thereunder; or 
  
 (G) a default of any Lender’s obligations to fund under Section 2.03(c) existing or any Lender is at such time a Defaulting
Lender, unless the L/C Issuer has entered into satisfactory arrangements with the Borrower or such Lender to eliminate the L/C Issuer’s risk with respect to such Lender. 
  
 (iii) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such
time to issue such Letter of Credit in its amended form under the terms hereof. 
  
 (iv) The L/C Issuer shall not be under any obligation to amend any Letter of Credit if: 
  
 (A) the L/C Issuer would have no obligation at such time to
issue such Letter of Credit in its amended form under the terms hereof; or 
  
 (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 
  
 (b) Procedures for Issuance and Amendment. 
  
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer
(with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent
(A) not later than 11:00 a.m. at least two Business Days prior to the proposed issuance date or date of amendment, as the case may be and (B) not later than 11:00 a.m. at least ten Business Days prior to the proposed issuance date or date of
amendment, as the 
  

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 case may be, of any Letter of Credit denominated in an Alternative Currency (or, in each case, such later
date and time as the L/C Issuer and the Administrative Agent may agree in a particular instance in their sole discretion). In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the expiry date thereof; (D) the name and address of the
beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as
the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer (A) the Letter of
Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may reasonably require. Additionally, the Borrower shall furnish
to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require.

  
 (ii) Promptly after receipt of any Letter of
Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the L/C Issuer will
provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from the Administrative Agent, any Lender or any Credit Party, at least one Business Day prior to the requested date of issuance or amendment of
the applicable Letter of Credit, that one or more applicable conditions contained in Article V shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of
Credit for the account of the Borrower (or Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each
Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to such Lender’s Revolving Commitment
Percentage thereof. 
  
 (iii) Promptly after its
delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of
such Letter of Credit or amendment. 
  
 (c) Drawings and
Reimbursements; Funding of Participations. 
  
 (i) Upon any drawing under any Letter of Credit, the L/C Issuer shall notify the Borrower and the Administrative Agent thereof. In the case of a Letter of Credit denominated in an Alternative Currency, the Borrower shall reimburse the L/C
Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its option) shall have specified in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in Dollars, the
Borrower shall have notified the L/C Issuer promptly following receipt of the notice of drawing that the Borrower will reimburse the L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit
denominated in an Alternative Currency, the L/C Issuer shall notify the Borrower of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof. Not later than 11:00 a.m. 
  

 33 

 on the date of any payment by the L/C Issuer under a Letter of Credit to be reimbursed in Dollars, or the
Applicable Time on the date of any payment by the L/C Issuer under a Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the
Administrative Agent in Dollars in an amount equal to the amount of such drawing and in the applicable currency. If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the
Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in an Alternative Currency) (the “Unreimbursed Amount”), and the
amount of such Lender’s Revolving Commitment Percentage thereof. In such event, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount,
without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, the amount of the unutilized portion of the Aggregate Revolving Committed Amount or the conditions set forth in Section
5.02. Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall
not affect the conclusiveness or binding effect of such notice. 
  
 (ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available to the Administrative Agent for the account of the L/C Issuer, in Dollars, at the Administrative Agent’s Office
for Dollar-denominated payments in an amount equal to its Revolving Commitment Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the
provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to
the L/C Issuer in Dollars, or if requested by the L/C Issuer, the equivalent amount thereof in an Alternative Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined as of such funding date) for the
purchase of such Alternative Currency with Dollars. 
  
 (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Loans for any reason, the Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the
Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative Agent for the
account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under
this Section 2.03. 
  
 (iv) Until each
Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Revolving Commitment Percentage of such
amount shall be solely for the account of the L/C Issuer. 
  
 (v) Each Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and
unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right that such Lender may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever, (B)
the occurrence or continuance of a Default or Event of Default, (C) non-compliance 
  

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 with the conditions set forth in Section 5.02, or (D) any other occurrence, event or condition,
whether or not similar to any of the foregoing. No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of
Credit, together with interest as provided herein. 
  
 (vi) If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified
in Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on
which such payment is immediately available to the L/C Issuer at a rate per annum equal to the Overnight Rate from time to time in effect. A certificate of the L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any
amounts owing under this clause (vi) shall be conclusive absent manifest error. 
  
 (d) Repayment of Participations. 
  
 (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c),
if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied
thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Revolving Commitment Percentage thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such
Lender’s L/C Advance was outstanding) in Dollars and in the same funds as those received by the Administrative Agent. 
  
 (ii) If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) is
required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of
the L/C Issuer its Revolving Commitment Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Overnight Rate
from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Credit Agreement. 
  
 (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each
Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Credit Agreement under all circumstances, including the following: 
  
 (i) any lack of validity or enforceability of such Letter of
Credit, this Credit Agreement or any other Credit Document; 
  
 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person
for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Credit Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or
instrument relating thereto, or any unrelated transaction; 
  

 35 

 (iii) any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a
drawing under such Letter of Credit; 
  
 (iv) any
payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any
Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any
arising in connection with any proceeding under any Debtor Relief Law; 
  
 (v) any adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to the Borrower or any Subsidiary or in the relevant currency markets generally; or 
  
 (vi) any other circumstance or happening whatsoever, whether
or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary. 
  
 The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to the
Borrower and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim
against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 
  
 (f) Role of the L/C Issuer in such Capacity. Each Lender and the Borrower agrees that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such
document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection
herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or
enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to the Borrower’s use of any Letter of
Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as the Borrower may have against the beneficiary or transferee at law or under any other
agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible for any of the matters described in clauses
(i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrower,
to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower that the Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C
Issuer’s willful failure to pay under any Letter of Credit 
  

 36 

 after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and
conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or
information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or
proceeds thereof, in whole or in part, that may prove to be invalid or ineffective for any reason. 
  
 (g) Cash Collateral. (i) (A) If the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has
resulted in an L/C Borrowing, or (B) if, as of the L/C Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then-Outstanding Amount of its L/C Obligations; (ii)
if the Administrative Agent notifies the Borrower at any time that the Outstanding Amount of all L/C Obligations at such time exceeds 105% of the Letter of Credit Sublimit then in effect, then, within two Business Days after receipt of such notice,
the Borrower shall Cash Collateralize the L/C Obligations in an amount equal to the amount by which the Outstanding Amount of all L/C Obligations exceeds the L/C Sublimit; and (iii) the Administrative Agent may, at any time and from time to time
after the initial deposit of Cash Collateral, request that additional Cash Collateral be provided in order to protect against the results of exchange rate fluctuations. 
  
 The Borrower hereby grants to the Collateral Agent, for the benefit of the L/C Issuer and the Lenders, a security interest
in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. 
  
 (h) Applicability of ISP. Unless otherwise expressly agreed by
the L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. 
  
 (i) Letters of Credit Issued for Subsidiaries. Notwithstanding that a
Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, any Subsidiary of the Borrower, the Borrower shall be obligated to reimburse the L/C Issuer for any and all drawings under such Letter of
Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of the Borrower’s Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries. 
  
 (j) Letter of Credit
Fees. The Borrower shall pay Letter of Credit fees as set forth in Section 2.09. 
  
 (k) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 
  
 2.04 Additional Provisions with respect to Swingline Loans.

  
 (a) Borrowing Procedures. Each Swingline Borrowing
shall be made in Dollars upon the Borrower’s irrevocable notice to the Swingline Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swingline Lender and the Administrative Agent not
later than 3:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be
confirmed promptly by delivery to the Swingline 
  

 37 

 Lender and the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer
of the Borrower. Promptly after receipt by the Swingline Lender of any telephonic Loan Notice, the Swingline Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Loan
Notice and, if not, the Swingline Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swingline Lender has received notice (by telephone or in writing) from the Administrative Agent (including
at the request of any Lender) prior to 3:00 p.m. on the date of the proposed Swingline Borrowing (A) directing the Swingline Lender not to make such Swingline Loan as a result of the limitations set forth in this Article II, or (B) that one
or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than 4:30 p.m. on the borrowing date specified in such Loan Notice, make
the amount of its Swingline Loan available to the Borrower. 
  
 (b) Refinancing. 
  
 (i) The
Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Revolving Loan that is a Base
Rate Loan in an amount equal to such Lender’s Revolving Commitment Percentage of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in
accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, the unutilized portion of the Aggregate Commitments or the conditions set forth in
Section 5.02. The Swingline Lender shall furnish the Borrower with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Revolving Commitment
Percentage of the amount specified in such Loan Notice available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m.
on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the Swingline Lender. 
  
 (ii) If for any reason any Swingline Loan cannot be refinanced by such a Borrowing of Revolving Loans in accordance with Section
2.04(c)(i), the request for Revolving Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Lenders fund its risk participation in the relevant Swingline Loan and
each Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation. 
  
 (iii) If any Lender fails to make available to the
Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swingline Lender
shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to
the Swingline Lender at a rate per annum equal to the Overnight Rate from time to time in effect. A certificate of the Swingline Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause
(iii) shall be conclusive absent manifest error. 
  

 38 

 (iv) Each Lender’s obligation to make Revolving Loans or to purchase and fund risk
participations in Swingline Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right that such Lender
may have against the Swingline Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default or Event of Default, (C) non-compliance with the conditions set forth in Section 5.02, or (D)
any other occurrence, event or condition, whether or not similar to any of the foregoing. No such purchase or funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swingline Loans, together with
interest as provided herein. 
  
 (c) Repayment of
Participations. 
  
 (i) At any time after any
Lender has purchased and funded a risk participation in a Swingline Loan, if the Swingline Lender receives any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Lender its Revolving Commitment Percentage of such
payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swingline Lender. 
  
 (ii) If any payment received by the Swingline Lender in
respect of principal or interest on any Swingline Loan is required to be returned by the Swingline Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swingline Lender in
its discretion), each Lender shall pay to the Swingline Lender its Revolving Commitment Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per
annum equal to the Overnight Rate. The Administrative Agent will make such demand upon the request of the Swingline Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of
this Credit Agreement. 
  
 (d) Interest for Account of
Swingline Lender. The Swingline Lender shall be responsible for invoicing the Borrower for interest on the Swingline Loans. Until each Lender funds its Revolving Loan or risk participation pursuant to this Section 2.04 to refinance such
Lender’s Revolving Commitment Percentage of any Swingline Loan, interest in respect thereof shall be solely for the account of the Swingline Lender. 
  
 (e) Payments Directly to Swingline Lender. The Borrower shall make all payments of principal and interest in respect of the Swingline Loans
directly to the Swingline Lender. 
  
 2.05 Repayment of
Loans. 
  
 (a) Revolving Loans. The Outstanding
Amount of the Revolving Loans are due and payable in full on the Revolving Termination Date. 
  
 (b) Swingline Loans. The Outstanding Amount of the Swingline Loans are due and payable in full on the earlier to occur of (i) the date of demand by the Swingline Lender and (ii) the Revolving Termination Date.

  

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 2.06 Prepayments. 
  
 (a) Voluntary Prepayments. The Loans may be repaid in whole or in part without premium or penalty (except, in the
case of Loans other than Base Rate Loans, amounts payable pursuant to Section 3.05); provided that: 
  
 (i) in the case of Loans other than Swingline Loans, (A) notice thereof must be received by 11:00 a.m. by the Administrative Agent on any
Business Day on or prior to the date of prepayment, in the case of Eurocurrency Rate Loans denominated in Dollars, subject to any breakage costs and other costs due pursuant to Section 3.05, (B) four Business Days (or five in the case of
prepayment of Loans denominated in Special Notice Currencies) prior to any date of prepayment, in the case of Eurocurrency Rate Loans denominated in Alternative Currencies, and (C) on the date of prepayment (which shall be a Business Day), in the
case of Base Rate Loans, and in each case, any such prepayment shall be a minimum principal amount of $1 million and integral multiples of $500,000 in excess thereof, in the case of Eurocurrency Rate Loans and $500,000 and integral multiples of
$100,000 in excess thereof, in the case of Base Rate Loans, or, in each case, the entire remaining principal amount thereof, if less; and 
  
 (ii) in the case of Swingline Loans, (A) notice thereof must be received by the Swingline Lender by 1:00 p.m. on the date of prepayment
(with a copy to the Administrative Agent), and (B) any such prepayment shall be in the same minimum principal amounts as for advances thereof (or any lesser amount that may be acceptable to the Swingline Lender). 
  
 Each such notice of voluntary prepayment hereunder shall be irrevocable and shall specify the
date and amount of prepayment and the Loans and Type(s) of Loans that are being prepaid and, if Eurocurrency Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will give prompt notice to the applicable Lenders of
any prepayment on the Loans and the Lender’s interest therein. Prepayments of Eurocurrency Rate Loans hereunder shall be accompanied by accrued interest on the amount prepaid and breakage or other amounts due, if any, under Section 3.05.

  
 (b) Mandatory Prepayments. 
  
 (i) Revolving Commitments. If at any time (A) the
Outstanding Amount of Revolving Obligations shall exceed the Aggregate Revolving Committed Amount, (B) the Outstanding Amount of L/C Obligations shall exceed the L/C Sublimit, (C) the Outstanding Amount of Swingline Loans shall exceed the Swingline
Sublimit, immediate prepayment will be made on or in respect of the Revolving Obligations in an amount equal to such excess; provided, however, that, except with respect to clause (B), L/C Obligations will not be Cash Collateralized
hereunder until the Revolving Loans and Swingline Loans have been paid in full. 
  
 (ii) Dispositions and Involuntary Dispositions. Unless otherwise agreed by the Required Lenders, prepayment will be made on the
Loan Obligations on the Business Day following receipt of Net Cash Proceeds required to be prepaid pursuant to the provisions hereof in an amount equal to 100% of the Net Cash Proceeds received from any Disposition or Involuntary Disposition by any
member of the Consolidated Group, to the extent (A) such proceeds are not reinvested in the same or similar properties or assets within twelve months of the date of such Disposition or Involuntary Disposition and (B) the aggregate amount of such
proceeds that are not reinvested in accordance with clause (A) hereof exceeds $500,000 in any fiscal year. 
  

 40 

 (iii) Extraordinary Receipts. Unless otherwise agreed by the Required Lenders,
prepayment will be made on Loan Obligations in an amount equal to 100% of Net Cash Proceeds from any Extraordinary Receipts on the Business Day following receipt thereof. 
  
 (iv) Debt Transactions. Unless otherwise agreed by the Required Lenders, prepayment will be made on
the Loan Obligations in an amount equal to 100% of the Net Cash Proceeds from any Debt Transactions occurring after the Closing Date on the Business Day following receipt thereof. 
  
 (v) Equity Transactions. Unless otherwise agreed by the Required Lenders, prepayment will be made on
the Loan Obligations in an amount equal to 50% of the Net Cash Proceeds from any Equity Transactions on the Business Day following receipt thereof. 
  
 (c) Application. Within each Loan, prepayments will be applied first to Base Rate Loans, then to Eurocurrency Rate Loans in direct order of
Interest Period maturities. In addition: 
  
 (i)
Voluntary Prepayments. Voluntary prepayments shall be applied as specified by the Borrower. Voluntary prepayments on the Loan Obligations will be paid by the Administrative Agent to the Lenders ratably in accordance with their respective
interests therein. 
  
 (ii) Mandatory
Prepayments. Mandatory prepayments on the Loan Obligations will be paid by the Administrative Agent to the Lenders ratably in accordance with their respective interests therein; provided that: 
  
 (A) Mandatory prepayments in respect of the Revolving
Commitments under subsection (b)(i) above shall be applied to the respective Revolving Obligations as appropriate. 
  
 (B) Mandatory prepayments in respect of Dispositions and Involuntary Dispositions under subsection (b)(ii) above, Extraordinary
Receipts under subsection (b)(iii), Debt Transactions under subsection (b)(iv), and Equity Transactions under subsection (b)(v) shall be applied to the Revolving Obligations (but without permanent reduction of commitments
thereunder). 
  
 2.07 Termination or Reduction of
Commitments. 
  
 The Commitments hereunder may be
permanently reduced in whole or in part by notice from the Borrower to the Administrative Agent; provided that (i) any such notice thereof must be received by 11:00 a.m. at least five Business Days prior to the date of reduction or
termination and any such prepayment shall be in a minimum principal amount of $5 million and integral multiples of $1 million in excess thereof; (ii) the Commitments may not be reduced to an amount less than the Loan Obligations then outstanding
thereunder and (iii) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency Sublimit, the L/C Sublimit, the Designated Borrower Sublimit or the Swingline Sublimit exceeds the amount of the Aggregate
Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will give prompt notice to the Lenders of any such reduction in Commitments. The amount of any such Aggregate Commitment reduction shall
not be applied to the Alternative Currency Sublimit or the Letter of Credit Sublimit unless otherwise specified by the Borrower. Any reduction of Commitments shall be applied ratably to the commitment of each Lender according to its commitment
percentage thereof. All commitment or other fees accrued with respect thereto through the effective date of any termination of Commitments shall be paid on the effective date of such termination. 
  

 41 

 2.08 Interest. 
  
 (a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the
outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Percentage plus (in the case of a Eurocurrency Rate Loan of any Lender which is lent
from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost; (ii) each Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per
annum equal to the Base Rate plus the Applicable Percentage; and (iii) each Swingline Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate
plus the Applicable Percentage. 
  
 (b) (i) If any amount
of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Law. 
  
 (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Credit Document is not paid when due (without
regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal
to the Default Rate to the fullest extent permitted by applicable Law. 
  
 (iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall at the request of the Required Lenders, pay interest on the principal amount of all outstanding Obligations
hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Law. 
  
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

  
 (c) Interest on each Loan shall be due and payable in arrears
on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of
any proceeding under any Debtor Relief Law. 
  
 2.09
Fees. 
  
 (a) Commitment Fee. 
  
 The Borrower shall pay to the Administrative Agent for the account of each
Lender in accordance with its Revolving Commitment Percentage thereof, a commitment fee, in Dollars, equal to the Applicable Percentage of the actual daily amount by which the Aggregate Revolving Committed Amount exceeds the sum of (i) the
Outstanding Amount of Revolving Loans plus (ii) the Outstanding Amount of L/C Obligations; provided, however, that if at any time the principal balance outstanding with respect to the Revolving Loan is equal to or less than a third
(1/3rd) of the Aggregate Revolving Committed Amount, the Applicable Percentage otherwise applicable shall be
increased (for each day for which the 
  

 42 

 condition persists) by 0.075% for purposes of calculating the commitment fee payable. The commitment fee for the
Revolving Commitments shall accrue at all times during the Revolving Commitment Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the first
Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Revolving Termination Date. The commitment fee for the Revolving Commitments shall be calculated
quarterly in arrears, and if there is any change in the Applicable Percentage during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Percentage separately for each period during such quarter that such
Applicable Percentage was in effect. For purposes hereof, Swingline Loans shall not be counted toward or be considered as usage of the Aggregate Revolving Committed Amount.  
  
 (b) Letter of Credit Fees. 
  

(i) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with
its Revolving Commitment Percentage, in Dollars, a Letter of Credit fee for each Letter of Credit equal to the Applicable Percentage multiplied by the Dollar Equivalent of the actual daily maximum amount available to be drawn under such
Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit) (the “Letter of Credit Fees”). The Letter of Credit Fees shall be computed on a quarterly basis in arrears, and shall be due and
payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the L/C Expiration Date and thereafter on demand. If there is
any change in the Applicable Percentage during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Percentage separately for each period during such quarter that such Applicable
Percentage was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
  
 (ii) Fronting Fee and Documentary and Processing Charges
Payable to L/C Issuer. The Borrower shall pay directly to the L/C Issuer for its own account, in Dollars, a fronting fee with respect to each Letter of Credit at the rate and at the times specified in the Fee Letter. In addition, the
Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time
in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 
  
 (c) Other Fees. 
  
 (i) The Borrower shall pay to BAS and the Administrative Agent for their own respective accounts, in Dollars, fees in the amounts and at
the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
  
 (ii) The Borrower shall pay to the Lenders, in Dollars, such fees as shall have been separately agreed upon in writing in the amounts and
at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
  

 43 

 2.10 Computation of Interest and Fees. 
  
 All computations of interest for Base Rate Loans when the Base Rate is
determined by Bank of America’s prime rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual
days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year), or, in the case of interest in respect of Loans denominated in Alternative Currencies as to which market practice
differs from the foregoing, in accordance with such market practice. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is
paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error. 
  
 2.11 Payments Generally; Administrative Agent’s Clawback. 
  
 (a) General. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein and except
with respect to principal of and interest on Loans denominated in an Alternative Currency, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the Lenders to which such payment is owed, at the
applicable Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. Except as otherwise expressly provided herein, all payments by the Borrower hereunder with respect to principal and
interest on Loans denominated in an Alternative Currency shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in such Alternative
Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under
this Credit Agreement be made in the United States. If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, the Borrower shall make such payment in Dollars in the Dollar
Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its pro rata share of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments
received by the Administrative Agent (i) after 2:00 p.m., in the case of payments in Dollars, or (ii) after the Applicable Time specified by the Administrative Agent in the case of payments in an Alternative Currency, shall in each case be deemed
received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. Subject to the definition of “Interest Period”, if any payment to be made by the Borrower shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 
  
 (b) (i) Funding by Lenders; Presumption by Administrative Agent. 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 Section 2.02 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 Administrative Agent forthwith on demand such corresponding amount in Same Day Funds with interest thereon, for each day from
and including the date such amount is made available to the Borrower to but 
  

 44 

 excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by
such Lender, the Overnight Rate and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an
overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the
amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent. 
  
 (ii) Payments by
Borrower; Presumptions by Administrative Agent. 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 L/C
Issuer 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 L/C Issuer, 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 L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on
demand the amount so distributed to such Lender or the L/C Issuer, in Same Day Funds 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 Overnight Rate. 
  
 A notice of the Administrative Agent to any Lender or
the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 
  
 (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender
as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article V are not
satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 
  
 (d) Obligation of the Lenders Several. The obligations of the Lenders hereunder to make Loans, to fund participations
in Letters of Credit and Swingline Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section
11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its
participation or to make its payment under Section 11.04(c). 
  
 (e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the
funds for any Loan in any particular place or manner. 
  
 2.12
Sharing of Payments By Lenders. 
  
 If any Lender
shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it, or the participations in 
  

 45 

 L/C Obligations or in Swingline Loans held by it resulting in such Lender’s receiving payment of a proportion of the
aggregate amount of such Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of
such fact, and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations and Swingline Loans of the other Lenders, or make such other adjustments as shall be equitable, 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 other amounts owing them, provided that: 
  
 (i) if any such participations or subparticipations are
purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 
  
 (ii) the provisions of this Section shall not be construed
to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Credit Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its
Loans or subparticipations in L/C Obligations or Swingline Loans to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply). 
  
 Each Credit Party 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 such Credit Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a
direct creditor of such Credit Party in the amount of such participation. 
  
 2.13 Evidence of Debt. 
  
 (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the
Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall
not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and
records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. The Borrower shall execute and deliver to the Administrative Agent a Note for each
Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with
respect thereto. 
  
 (b) In addition to the accounts and records
referred to in subsection (a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and
Swingline Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall
control in the absence of manifest error. 
  

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 ARTICLE III 
  
 TAXES, YIELD PROTECTION AND ILLEGALITY 
  
 3.01 Taxes. 
  
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Credit Document
shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes, provided that if the Borrower shall be required by applicable law to deduct any Indemnified Taxes (including any 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 L/C Issuer, 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 timely pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable law. 
  
 (b) Payment of
Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
  
 (c) Indemnification by the Borrower. The Borrower shall indemnify the
Administrative Agent, each Lender and the L/C Issuer, within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts
payable under this Section) paid by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any 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 L/C Issuer (with a copy to the Administrative
Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. 
  
 (d) Evidence of Payments. 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)
Status of Lenders. 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 resident for tax purposes, or any treaty to which such jurisdiction is a
party, with respect to payments hereunder or under any other Credit Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by the Borrower or the
Administrative Agent, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if requested by the
Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine
whether or not such Lender is subject to backup withholding or information reporting requirements. 
  

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 Without limiting the generality of the foregoing, in the event that the Borrower is resident for tax purposes in the
United States, any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Credit
Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 
  
 (i) duly completed copies of Internal Revenue Service Form
W-8BEN claiming eligibility for benefits of an income tax treaty to which the United States is a party, 
  
 (ii) duly completed copies of Internal Revenue Service Form W-8ECI, 
  
 (iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of
section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue Service Form W-8BEN, or 
  
 (iv) any other form prescribed by applicable law as a basis
for claiming exemption from or a reduction in United States Federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower to determine the withholding or deduction
required to be made. 
  
 (f) Treatment of Certain Refunds.
If the Administrative Agent, any Lender or the L/C Issuer 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, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the
Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent, such Lender or the L/C Issuer, as the case may be, 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, such Lender or the L/C Issuer, 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, such Lender or the L/C Issuer in the event the Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such Governmental Authority.
This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other
Person. 
  
 3.02 Illegality. 
  
 If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurocurrency Rate Loans (whether denominated in Dollars or an Alternative Currency), or to determine or charge
interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars or any Alternative Currency in the applicable
interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such Lender to make or continue Eurocurrency Rate Loans in the affected currency or currencies or, in the case of
Eurocurrency Rate 
  

 48 

 Loans in Dollars, to convert Loans that are Base Rate Loans to Eurocurrency Rate Loans shall be suspended until such
Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative
Agent), prepay or, if applicable and such Loans are denominated in Dollars, convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to
maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount
so prepaid or converted. 
  
 3.03 Inability to Determine
Rates. 
  
 If the Required Lenders determine that for any
reason in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof that (a) deposits (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore interbank
market for such currency for the applicable amount and Interest Period of such Eurocurrency Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed
Eurocurrency Rate Loan (whether denominated in Dollars or an Alternative Currency), or (c) the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to
such Lenders of funding such Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurocurrency Rate Loans in the affected currency or
currencies shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans in the affected currency or currencies or, failing that, will be deemed to have converted such request into a request for a Borrowing of Loans that are Base Rate Loans in the amount specified therein.

  
 3.04 Increased Cost; Capital Adequacy.

  
 (a) Increased Costs Generally. If any Change in
Law shall: 
  
 (i) impose, modify or deem
applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except (A) any reserve requirement
contemplated by Section 3.04(e)) and (B) the requirements of the Bank of England and the Financial Services Authority or the European Central Bank reflected in the Mandatory Cost, other than as set forth below) or the L/C Issuer; 

 
 (ii) subject any Lender or the L/C Issuer to any tax of
any kind whatsoever with respect to this Credit Agreement, any Letter of Credit, any participation in a Letter of Credit or any Eurocurrency Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect
thereof (except for Indemnified Taxes or Other Taxes covered by Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); 
  
 (iii) the Mandatory Cost, as calculated hereunder, does not
represent the cost to any Lender of complying with the requirements of the Bank of England and/or the Financial Services Authority or the European Central Bank in relation to its making, funding or maintaining Eurocurrency Rate Loans; or 

 

 49 

 (iv) impose on any Lender or the L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Credit Agreement or Eurocurrency 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 Eurocurrency Loan (or of maintaining its obligation to
make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the
amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as
the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 
  
 (b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or
the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C
Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Credit Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit
held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or
the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered. 
  
 (c) Certificates for Reimbursement. A certificate of a Lender or the
L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrower shall
be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 
  
 (d) Delay in Requests. Failure or delay on the part of any Lender or
the L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the Borrower shall not be
required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six months prior to the date that such Lender or the L/C Issuer, 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 L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to include the period of retroactive effect thereof). 
  
 (e) Reserves on Eurocurrency Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each
Eurocurrency Rate Loan equal to the actual costs of such 
  

 50 

 reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be
conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior written notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice. 
  
 3.05 Compensation for Losses. 
  
 Upon written demand of any Lender (with a copy to the Administrative Agent)
from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
  
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last
day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
  
 (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other
than a Base Rate Loan on the date or in the amount notified by the Borrower; 
  
 (c) any failure by the Borrower to make payment of any Loan or drawing under any Letter of Credit (or interest due thereon) denominated in an Alternative Currency on its scheduled due date or any payment thereof in a
different currency; or 
  
 (d) any assignment of a Eurocurrency
Rate Loan on a day other than the last day of the Interest Period therefore as a result of a request by the Borrower pursuant to Section 11.13; 
  
 including any loss of anticipated profits, any foreign exchange losses and any loss or expense arising from the liquidation or reemployment of funds obtained by it to
maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract. The Borrower shall also pay any customary administrative fees charged by such Lender in
connection with the foregoing. 
  
 For purposes of calculating
amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the
offshore interbank market for such currency for a comparable amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 
  
 3.06 Mitigation Obligations; Replacement of Lenders. 
  
 (a) Designation of a Different Lending Office. If any Lender
requests compensation under Section 3.05, or 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 3.01, or if any Lender gives a notice
pursuant to Section 3.02, 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 3.01 or 3.05, as the case may be, in the future, or eliminate the need for the notice
pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. 
  

 51 

 (b) Replacement of Lenders. If any Lender requests compensation under Section 3.05, 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 3.01, the Borrower may replace such Lender in accordance with Section 11.13.

  
 3.07 Survival Losses. 
  
 All of the Borrower’s obligations under this Article III shall
survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder. 
  
 ARTICLE IV 
  
 GUARANTY 
  
 4.01 The Guaranty.

  
 (a) Each of the Guarantors hereby jointly and severally
guarantees to the Administrative Agent and each of the holders of the Obligations, as hereinafter provided, as primary obligor and not as surety, the prompt payment of the Obligations (the “Guaranteed Obligations”) in full when due
(whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantors hereby further agree that if any of the Guaranteed Obligations
are not paid in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the Guarantors will, jointly and severally, promptly pay the same, without any demand or
notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration,
as a mandatory cash collateralization or otherwise) in accordance with the terms of such extension or renewal. 
  
 (b) Notwithstanding any provision to the contrary contained herein, in any other of the Credit Documents, Swap Contracts or other documents relating to
the Obligations, the obligations of each Guarantor under this Credit Agreement and the other Credit Documents shall be limited to an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under the
Debtor Relief Laws or any comparable provisions of any applicable state law. 
  
 4.02 Obligations Unconditional. 
  
 The obligations of the Guarantors under Section 4.01 are joint and several, absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Credit
Documents or other documents relating to the Obligations, or any substitution, compromise, release, impairment or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent permitted by
applicable Law, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 4.02 that the obligations of the
Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Each Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against the Borrower or any other
Guarantor for amounts paid under this Article IV until such time as the Obligations have been irrevocably paid in full and the 
  

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 commitments relating thereto have expired or been terminated. Without limiting the generality of the foregoing, it is
agreed that, to the fullest extent permitted by law, the occurrence of any one or more of the following shall not alter or impair the liability of any Guarantor hereunder, which shall remain absolute and unconditional as described above: 

 
 (a) at any time or from time to time, without notice to any Guarantor,
the time for any performance of or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 
  
 (b) any of the acts mentioned in any of the provisions of any of the Credit Documents, or other documents relating to the Guaranteed Obligations or any
other agreement or instrument referred to therein shall be done or omitted; 
  
 (c) the maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Obligations shall be modified, supplemented or amended in any respect, or any right under any of the Credit Documents or other
documents relating to the Guaranteed Obligations, or any other agreement or instrument referred to therein shall be waived or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released, impaired or exchanged
in whole or in part or otherwise dealt with; 
  
 (d) any Lien
granted to, or in favor of, the Administrative Agent or any of the holders of the Guaranteed Obligations as security for any of the Guaranteed Obligations shall fail to attach or be perfected; or 
  
 (e) any of the Guaranteed Obligations shall be determined to be void or
voidable (including, without limitation, for the benefit of any creditor of any Guarantor) or shall be subordinated to the claims of any Person (including, without limitation, any creditor of any Guarantor). 
  
 With respect to its obligations hereunder, each Guarantor hereby expressly
waives diligence, presentment, demand of payment, protest notice of acceptance of the guaranty given hereby and of extensions of credit that may constitute obligations guaranteed hereby, notices of amendments, waivers and supplements to the Credit
Documents and other documents relating to the Guaranteed Obligations, or the compromise, release or exchange of collateral or Security, and all notices whatsoever, and any requirement that the Administrative Agent or any holder of the Guaranteed
Obligations exhaust any right, power or remedy or proceed against any Person under any of the Credit Documents or any other documents relating to the Guaranteed Obligations or any other agreement or instrument referred to therein, or against any
other Person under any other guarantee of, or security for, any of the Obligations. 
  
 4.03 Reinstatement. 
  
 Neither the Guarantors’ obligations hereunder nor any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner whatsoever by an impairment, modification, change, release or limitation of the
liability of the Borrower, by reason of the Borrower’s bankruptcy or insolvency or by reason of the invalidity or unenforceability of all or any portion of the Guaranteed Obligations. The obligations of the Guarantors under this Article
IV shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the Obligations,
whether as a result of any proceedings pursuant to any Debtor Relief Law or otherwise, and each Guarantor agrees that it will indemnify the Administrative Agent and each holder of Guaranteed Obligations on demand for all reasonable costs and
expenses (including all reasonable fees, expenses and disbursements of any law firm or other counsel) incurred by the Administrative Agent or such holder of Guaranteed Obligations in 
  

 53 

 connection with such rescission or restoration, including any such costs and expenses incurred in defending against any
claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any Debtor Relief Law. 
  
 4.04 Certain Waivers. 
  
 Each Guarantor acknowledges and agrees that (a) the guaranty given hereby may be enforced without the necessity of resorting to or otherwise exhausting
remedies in respect of any other security or collateral interests, and without the necessity at any time of having to take recourse against the Borrower hereunder or against any collateral securing the Guaranteed Obligations or otherwise, and (b) it
will not assert any right to require the action first be taken against the Borrower or any other Person (including any co-guarantor) or pursuit of any other remedy or enforcement any other right, and (c) nothing contained herein shall prevent or
limit action being taken against the Borrower hereunder, under the other Credit Documents or the other documents and agreements relating to the Guaranteed Obligations or from foreclosing on any security or collateral interests relating hereto or
thereto, or from exercising any other rights or remedies available in respect thereof, if neither the Borrower nor the Guarantors shall timely perform their obligations, and the exercise of any such rights and completion of any such foreclosure
proceedings shall not constitute a discharge of the Guarantors’ obligations hereunder unless as a result thereof, the Guaranteed Obligations shall have been paid in full and the commitments relating thereto shall have expired or been
terminated, it being the purpose and intent that the Guarantors’ obligations hereunder be absolute, irrevocable, independent and unconditional under all circumstances. 
  
 4.05 Remedies. 
  
 The Guarantors agree that, to the fullest extent permitted by law, as between the Guarantors, on the one hand, and the Administrative Agent and the
holders of the Guaranteed Obligations, on the other hand, the Guaranteed Obligations may be declared to be forthwith due and payable as provided in Section 9.02 (and shall be deemed to have become automatically due and payable in the
circumstances provided in Section 9.02) for purposes of Section 4.01, notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing the Guaranteed Obligations from becoming automatically due and
payable) as against any other Person and that, in the event of such declaration (or the Guaranteed Obligations being deemed to have become automatically due and payable), the Guaranteed Obligations (whether or not due and payable by any other
Person) shall forthwith become due and payable by the Guarantors for purposes of Section 4.01. The Guarantors acknowledge and agree that the Guaranteed Obligations are secured in accordance with the terms of the Collateral Documents and that
the holders of the Guaranteed Obligations may exercise their remedies thereunder in accordance with the terms thereof. 
  
 4.06 Rights of Contribution. 
  
 The Guarantors hereby agree as among themselves that, in connection with payments made hereunder, each Guarantor shall have a right of contribution from
each other Guarantor in accordance with applicable Law. Such contribution rights shall be subordinate and subject in right of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations have been irrevocably paid in full and
the commitments relating thereto shall have expired or been terminated, and none of the Guarantors shall exercise any such contribution rights until the Guaranteed Obligations have been irrevocably paid in full and the commitments relating thereto
shall have expired or been terminated. 
  

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 4.07 Guaranty of Payment; Continuing Guaranty. 
  
 The guarantee in this Article IV is a guaranty of payment and not of
collection, and is a continuing guarantee, and shall apply to all Guaranteed Obligations whenever arising. 
  
 ARTICLE V 
  
 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
  
 5.01 Conditions to Initial Credit Extensions. 
  
 The obligation of each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 
  
 (a) Executed Credit Documents. The Administrative Agent’s receipt of counterparts of this Credit Agreement, the Notes, the Security Agreement
and the Pledge Agreement, in each case, dated as of the Closing Date, duly executed by a Responsible Officer of each Credit Party party thereto and by each Lender party thereto, and in form and substance reasonably satisfactory to the Administrative
Agent and each of the Lenders. 
  
 (b) Organization Documents,
Etc. The Administrative Agent’s receipt of a duly executed certificate of a Responsible Officer of each Credit Party, in form and substance reasonably satisfactory to the Administrative Agent and each of the Lenders, attaching each of the
following documents and certifying that each is true, correct and complete and in full force and effect as of the Closing Date: 
  
 (i) Charter Documents. Copies of its articles or certificate of organization or formation, certified to be true, correct and
complete as of a recent date by the appropriate Governmental Authority of the jurisdiction of its organization or formation; 
  
 (ii) Bylaws. Copies of its bylaws, operating agreement or partnership agreement; 
  
 (iii) Resolutions. Copies of its resolutions
approving and adopting the Credit Documents to which it is party, the transactions contemplated therein, and authorizing the execution and delivery thereof; 
  
 (iv) Incumbency. Incumbency certificates identifying the Responsible Officers of such Credit Party that are authorized to execute
Credit Documents and to act on such Credit Party’s behalf in connection with the Credit Documents; and 
  
 (v) Good Standing Certificates. A certificate of good standing or the equivalent from its jurisdiction of organization or formation
certified as of a recent date by the appropriate Governmental Authority. 
  
 (c) Opinions of Counsel. The Administrative Agent’s receipt of duly executed favorable opinions of counsel to the Credit Parties, dated as of the Closing Date, in form and substance reasonably satisfactory
to the Administrative Agent and each of the Lenders. 
  

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 (d) Financial Statements. The Administrative Agent’s receipt of each of the following:

  
 (i) The audited consolidated and
consolidating balance sheets of the Consolidated Group for the fiscal years ended December 31, 2001, December 31, 2002 and December 31, 2003, and the related consolidated and consolidating statements of income or operations, shareholders’
equity and cash flows for such fiscal years (including the notes thereto), prepared in accordance with GAAP; and 
  
 (ii) The unaudited consolidated and consolidating financial statements of the Consolidated Group for the fiscal quarter ended March 31,
2004 and the related consolidated and consolidating statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter, prepared in accordance with GAAP. 
  
 (e) Officer Certificates. The Administrative Agent’s receipt of a certificate or certificates of a Responsible
Officer of the Borrower, dated as of the Closing Date, in form and substance satisfactory to the Administrative Agent, certifying each of the following: 
  
 (i) Consents. No consents, licenses or approvals are required in connection with the execution, delivery and performance by any
Credit Party of the Credit Documents to which it is a party, other than as are in full force and effect and, to the extent requested by the Administrative Agent, are attached thereto; 
  
 (ii) Material Adverse Effect. There has been no event or circumstance since the date of the audited
financial statements for the fiscal year ending December 31, 2003 that has had or would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; 
  
 (iii) Financial Statements. The annual and quarterly
financial statements delivered to the Administrative Agent pursuant to Section 5.01(d) hereof (A) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein,
(B) fairly present the financial condition of the Consolidated Group as of the date thereof and the results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as
otherwise expressly noted therein (and with respect to such quarterly statements, subject to the absence of footnotes and to normal year-end audit adjustments) and (C) show all material indebtedness and other liabilities, direct or contingent, of
the Consolidated Group as of the date thereof, including liabilities for taxes, material commitments and Indebtedness; and 
  
 (iv) Financial Covenant Calculations. The calculation of the financial covenants set forth in Section 8.12 as of the end of
the most recent fiscal quarter of the Borrower ending prior to the Closing Date. 
  
 (f) Personal Property Collateral. The Collateral Agent’s receipt of the following, each in form and substance satisfactory to the Collateral Agent: 
  
 (i) Lien Priority. Evidence that (A) the Collateral
Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (other than Permitted Liens) and (B) none of the Collateral is subject to any Liens (other than Permitted Liens); 
  

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 (ii) UCC Financing Statements. Such UCC financing statements as are necessary or
appropriate, in the Collateral Agent’s reasonable discretion, to perfect the security interests in the Collateral; 
  
 (iii) Intellectual Property. Such patent, trademark and copyright notices and recordations as are necessary or appropriate, in the
Collateral Agent’s reasonable discretion, to perfect the security interests in the Credit Parties’ IP Rights; and 
  
 (iv) Capital Stock. Original certificates evidencing the Capital Stock pledged pursuant to the Collateral Documents (to the extent
such Capital Stock is certificated), together with undated stock transfer powers executed in blank. 
  
 (g) Evidence of Insurance. The Collateral Agent’s receipt of copies of insurance certificates or policies with respect to all insurance
required to be maintained pursuant to the Credit Documents identifying the Collateral Agent as sole loss payee, with respect to casualty insurance, and as additional insured, with respect to liability insurance. 
  
 (h) Existing Credit Agreement. The Administrative Agent’s receipt
of evidence, in form and substance satisfactory to the Administrative Agent, that the Existing Credit Agreement has been (or concurrently with the Closing Date is being) terminated and all Liens securing obligations under the Existing Credit
Agreement have been (or concurrently with the Closing Date are being) released. 
  
 (i) Other. The Administrative Agent’s receipt of such other assurances, certificates, documents, consents or opinions as the Administrative Agent or the Lenders may require. 
  
 (j) Fees and Expenses. All fees and expenses (including, unless waived
by the Administrative Agent, all reasonable fees, expenses and disbursements of any law firm or other counsel) required to be paid on or before the Closing Date shall have been paid. 
  
 Without limiting the generality of the provisions of Section 10.04, for purposes of determining compliance with the conditions
specified in this Section 5.01, each Lender that has signed this Credit Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or
approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 
  
 5.02 Conditions to All Credit Extensions. 
  
 The obligation of each Lender to honor any Request for Credit Extension is
subject to the following conditions precedent: 
  
 (a) The
representations and warranties of the Borrower and each other Credit Party contained in Article VI or any other Credit Document, or that are contained in any document furnished at any time under or in connection herewith or therewith, shall
be true and correct on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date.

  
 (b) No Default or Event of Default shall exist, or would
result from such proposed Credit Extension or from the application of the proceeds thereof. 
  

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 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swingline Lender shall have
received a Request for Credit Extension in accordance with the requirements hereof. 
  
 (d) In the case of a Credit Extension to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency
exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent, the Required Lenders (in the case of any Loans to be denominated in an Alternative Currency) or the L/C Issuer (in the case of any Letter of Credit to
be denominated in an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the relevant Alternative Currency. 
  
 Each Request for Credit Extension submitted by the Borrower shall be deemed to be a representation and warranty by the Borrower that the conditions
specified in Sections 5.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 
  
 ARTICLE VI 
  
 REPRESENTATIONS AND WARRANTIES 
  
 The Credit Parties represent and warrant to the Administrative Agent and the Lenders that: 
  
 6.01 Existence, Qualification and Power. 
  
 Each Credit Party (a) is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or
formation, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) execute, deliver and perform its obligations under the Credit Documents to which it is a party and (ii)
except to the extent it would not reasonably be expected to have a Material Adverse Effect, own its assets and carry on its business, (c) except to the extent it would not reasonably be expected to have a Material Adverse Effect, is duly qualified
and is licensed and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license. 
  
 6.02 Authorization; No Contravention. 
  
 The execution, delivery and performance by each Credit Party of each Credit
Document to which it is party have been duly authorized by all necessary corporate or other organizational action and do not (a) contravene the terms of such Credit Party’s Organization Documents; (b) conflict with or result in any breach or
contravention of, or the creation of any Lien (other than Permitted Liens) under, (i) any Contractual Obligation to which such Credit Party is party or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to
which such Credit Party or its Property is subject; or (c) violate any Law. 
  
 6.03 Governmental Authorization; Other Consents. 
  
 No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is
necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Credit Party of this Credit Agreement or any other Credit Document (other than (a) as have already been obtained and are in full force
and effect and (b) filings to perfect security interested granted pursuant to the Credit Documents). 
  

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 6.04 Binding Effect. 
  
 This Credit Agreement and each other Credit Document has been duly executed and delivered by each Credit Party that is party
thereto. This Credit Agreement and the other Credit Documents constitute legal, valid and binding obligations of such Credit Party, enforceable against such Credit Party in accordance with its terms. 
  
 6.05 Financial Statements. 
  
 (a) The audited consolidated balance sheet of the Consolidated Group for the
most recent fiscal year ended, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, including the notes thereto (i) were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Consolidated Group as of the date thereof and their results of operations for the period covered thereby in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Consolidated Group as of the
date thereof, including liabilities for taxes, material commitments and Indebtedness, except as set forth on Schedule 6.05 hereof. 
  
 (b) The unaudited consolidated and consolidating balance sheet of the Consolidated Group for the most recent fiscal quarter ended, and the related
consolidated and consolidating statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as
otherwise expressly noted therein, (ii) fairly present the financial condition of the Consolidated Group as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and
(ii), to the absence of footnotes and to normal year-end audit adjustments, and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Consolidated Group as of the date of such financial statements, including
liabilities for taxes, material commitments and Indebtedness. 
  
 6.06 No Material Adverse Effect. 
  
 Since
December 31, 2003, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect. 
  
 6.07 Litigation. 
  
 There are no actions, suits, investigations, criminal prosecutions, civil investigative demands, imposition of criminal or civil fines or penalties,
proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the any member of the Consolidated Group that (a) purport
to affect or pertain to this Credit Agreement or any other Credit Document, or any of the transactions contemplated hereby or (b) would reasonably be expected to have a Material Adverse Effect. 
  
 6.08 No Default. 
  
 No member of the Consolidated Group is in default under or with respect to
any Contractual Obligation that would, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing or would result from the consummation of the
transactions contemplated by this Credit Agreement or any other Credit Document. 
  

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 6.09 Ownership of Property; Liens. 
  
 Each member of the Consolidated Group has good record and marketable title
in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. The property of the Consolidated Group is subject to no Liens, other than Permitted Liens. 
  
 6.10 Environmental Compliance. 
  
 The on-going operations of the Credit Parties comply with all Environmental Laws, except such non-compliance that could not (if enforced in accordance
with applicable Laws) reasonably be expected to have a Material Adverse Effect. 
  
 6.11 Insurance. 
  
 The properties of the Consolidated Group are insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by
companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary operates. 
  
 6.12 Taxes. 
  
 Each member of the Consolidated Group has filed all federal, state and other material tax returns and reports required to be filed, and have paid all
federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those that are being contested in good faith by appropriate
proceedings diligently conducted or for which adequate reserves have been provided in accordance with GAAP. There is no proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect. 

 
 6.13 ERISA Compliance. 
  
 (a) Each Plan is in compliance in all material respects with the applicable
provisions of ERISA, the Internal Revenue Code and other federal or state Laws. Each Plan that is intended to qualify under Section 401(a) of the Internal Revenue Code has received a favorable determination letter from the IRS or an application for
such a letter is currently pending before the IRS with respect thereto and, to the best knowledge of the Borrower, nothing has occurred that would prevent, or cause the loss of, such qualification. The Borrower and each ERISA Affiliate have made all
required contributions to each Plan subject to Section 412 of the Internal Revenue Code, and no application for a funding waiver or an extension of any amortization period pursuant to Section 412 of the Internal Revenue Code has been made with
respect to any Plan. 
  
 (b) There are no pending or, to the
knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that would be reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted or would reasonably be expected to result in a Material Adverse Effect. 
  

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 (c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) the Unfunded Pension
Liability of all Pension Plans does not in the aggregate exceed twenty percent (20%) of the Total Plan Liability for all such Pension Plans; (iii) neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability (and no event has occurred that, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither the Borrower nor any ERISA
Affiliate has engaged in a transaction that would reasonably be expected to be subject to Sections 4069 or 4212(c) of ERISA. 
  
 6.14 Subsidiaries. 
  
 As of the Closing Date, set forth on Schedule 6.14, with respect to each Credit Party, is the jurisdiction of organization, classes of Capital
Stock (including options, warrants, rights of subscription, conversion, exchangeability and other similar rights), and ownership and ownership percentages of each Subsidiary of such Credit Party. The outstanding Capital Stock has been validly
issued, is owned free of Liens, and with respect to any outstanding shares of Capital Stock of a corporation, such shares have been validly issued and are fully paid and non-assessable. The outstanding shares of Capital Stock are not subject to any
buy-sell, voting trust or other shareholder agreement except as identified on Schedule 6.14. As of the Closing Date, the Credit Parties have no Subsidiaries other than those specifically disclosed on Schedule 6.14. 
  
 6.15 Margin Regulations; PUHCA; Investment Company Act.

  
 (a) The Credit Parties are not engaged and will not
engage, principally or as one of their important activities, in the business of purchasing or carrying “margin stock” (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock. 
  
 (b) None of the Credit Parties, any
Person Controlling a Credit Party, or any Subsidiary (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary
company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940.

  
 6.16 Disclosure. 
  
 Each Credit Party has disclosed to the Administrative Agent and 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, would reasonably be expected to result in a Material
Adverse Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Credit Party to the Administrative Agent or any Lender in connection with the transactions contemplated
hereby and the negotiation of this Credit Agreement or delivered hereunder or under any other Credit Document (in each case, 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. 
  

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 6.17 Compliance with Laws. 
  
 Each member of the Consolidated Group is in compliance in all material respects with the requirements of all Laws and all
orders, writs, injunctions, settlements or other agreements with any Governmental Authority and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is
being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
  
 6.18 Solvency. 
  
 Immediately after giving effect to the initial Credit Extensions made on the
Closing Date, (a) the fair value of the assets of the Credit Parties, taken as a whole, will exceed their debts and liabilities, subordinated, contingent or otherwise; (b) the present fair saleable value of the property of the Credit Parties, taken
as a whole, will be greater than the amount that will be required to pay the probable liability of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and mature; and (c) the
Credit Parties, taken as a whole, will not have unreasonably small capital with which to conduct the business in which they are engaged as such business is now conducted and is proposed to be conducted following the Closing Date. 
  
 6.19 Subordinated Debt. 
  
 All Obligations shall be “Designated Senior Indebtedness” under
the Indenture – 2004. The subordination provisions of any Subordinated Debt are enforceable against the respective holders of the Subordinated Debt by the Administrative Agent and the Lenders. All Obligations constitute senior Indebtedness
entitled to the benefits of the subordination provisions contained any Subordinated Debt. The Borrower acknowledges that the Administrative Agent and each Lender are entering into this Credit Agreement and are extending the Aggregate Commitments and
making the Loans in reliance upon the subordination provisions of any Subordinated Debt and this Section 6.19. 
  
 6.20 Intellectual Property; Licenses, Etc. 
  
 Each member of the Consolidated Group owns, or possesses the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent
rights, franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person
which would reasonably be expected to have a Material Adverse Effect. To the best knowledge of the Credit Parties, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated
to be employed, by any member of the Consolidated Group infringes upon any rights held by any other Person which would reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of the foregoing is pending or, to
the best knowledge of the Credit Parties, threatened, that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect, except as set forth on Schedule 6.20 hereof. 
  
 6.21 Security Agreement. 
  
 The Security Agreement is effective to create in favor of the Collateral
Agent, for the ratable benefit of the holders of the Obligations, a legal, valid and enforceable security interest in the Collateral 
  

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 identified therein, except to the extent the enforceability thereof may be limited by applicable Debtor Relief Laws
affecting creditors’ rights generally and by equitable principles of law (regardless of whether enforcement is ought in equity or at law) and, when UCC financing statements (or other appropriate notices) in appropriate form are duly filed at
the locations identified in the Security Agreement, the Security Agreement shall create a fully perfected first priority Lien on, and security interest in, all right, title and interest of the grantors thereunder in such Collateral, in each case
prior and superior in right to any other Lien (other than Permitted Liens). 
  
 6.22 Pledge Agreement. 
  
 The Pledge Agreement is effective to create in favor of the Collateral Agent, for the ratable benefit of the holders of the Obligations, a legal, valid and enforceable security interest in the Collateral identified therein, except to the
extent the enforceability thereof may be limited by applicable Debtor Relief Laws affecting creditors’ rights generally and by equitable principles of law (regardless of whether enforcement is ought in equity or at law) and the Pledge Agreement
shall create a fully perfected first priority Lien on, and security interest in, all right, title and interest of the pledgors thereunder in such Collateral, in each case prior and superior in right to any other Lien (i) with respect to any such
Collateral that is a “security” (as such term is defined in the UCC) and is evidenced by a certificate, when such Collateral is delivered to the Collateral Agent with duly executed stock powers with respect thereto, (ii) with respect to
any such Collateral that is a “security” (as such term is defined in the UCC) but is not evidenced by a certificate, when UCC financing statements in appropriate form are filed in the appropriate filing offices in the jurisdiction of
organization of the pledgor or when “control” (as such term is defined in the UCC) is established by the Collateral Agent over such interests in accordance with the provision of Section 8-106 of the UCC, or any successor provision, and
(iii) with respect to any such Collateral that is not a “security” (as such term is defined in the UCC), when UCC financing statements in appropriate form are filed in the appropriate filing offices in the jurisdiction of organization of
the pledgor. 
  
 ARTICLE VII 
  
 AFFIRMATIVE COVENANTS 
  
 Until the Loan Obligations shall have been paid in full or otherwise
satisfied, and the Commitments hereunder shall have expired or been terminated, the Borrower will, with respect to Section 7.01 and clauses (a) and (b) of Section 7.02, the Credit Parties will, with respect to Sections
7.14 and 7.15, and the Borrower will and will cause its Subsidiaries to, with respect to all other provisions of this Article: 
  
 7.01 Financial Statements. 
  
 Deliver to the Administrative Agent and each Lender, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders:

  
 (a) as soon as available, but in any event not later than the
earlier of (i) the date such deliveries are required by the SEC and (ii) ninety (90) days after the end of each fiscal year of the Borrower, consolidated balance sheets of the Consolidated Group as at the end of such fiscal year (beginning with the
fiscal year ending December 31, 2004), and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal
year, all in reasonable detail and prepared in 
  

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 accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an
independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to
any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; 
  
 (b) as soon as available, but in any event not later than (i) the date such deliveries are required by the SEC and (ii) forty-five (45) days after the end
of each fiscal quarter of each fiscal year of the Borrower and ninety (90) days after the end of the last fiscal quarter of each year of the Borrower (beginning with the fiscal quarter ending June 30, 2004), consolidated and consolidating balance
sheets of the Consolidated Group as at the end of such fiscal quarter, and the related consolidated and consolidating statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of the
Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail
and certified by a Responsible Officer of the Borrower as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of the Consolidated Group in accordance with GAAP, subject only to normal year-end
audit adjustments and the absence of footnotes and such consolidating statements to be certified by a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to
the consolidated financial statements of the Borrower and its Subsidiaries; and 
  
 (c) as soon as practicable, and in any event not later than 30 days after the commencement of each fiscal year, financial projections for the Borrower and its Subsidiaries for such fiscal year prepared in a manner
consistent with the projections delivered by the Borrower to the Lenders prior to the Closing Date, accompanied by a certificate of a Responsible Officer of the Borrower on behalf of the Borrower to the effect that (i) such projections were prepared
by the Borrower in good faith, (ii) the Borrower had a reasonable basis for the assumptions contained in such projections on the date such projections were prepared and as of the date furnished to the Administrative Agent and the Lenders and (iii)
such projections have been prepared in accordance with such assumptions. 
  
 As to
any information contained in materials furnished pursuant to Section 7.02(b), the Borrower shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation
of the obligation of the Borrower to furnish the information and materials described in clauses (a) and (b) above at the times specified therein. 
  

7.02 Certificates; Other Information. 
  
 Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
  
 (a) concurrently with the delivery of the financial statements referred to
in Sections 7.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower (i) setting forth computations in reasonable detail satisfactory to the Administrative Agent demonstrating compliance
with the financial covenants contained herein, (ii) certifying that no Default or Event of Default exists as of the date thereof (or the nature and extent thereof and proposed actions with respect thereto) and (ii) including a summary of all
material changes in GAAP and in the consistent application thereof that affect computation of the financial covenants and other calculations hereunder, the effect on the financial covenants resulting therefrom and a reconciliation between
calculation of the financial covenants (and determination of the applicable pricing level under the definition of “Applicable Percentage”) before and after giving effect to such changes; 
  

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 (b) promptly after any request by the Administrative Agent or any Lender, copies of any detailed audit
reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants in connection with the accounts or books of the Borrower or any
Subsidiary, or any audit of any of them; 
  
 (c) promptly after
the same are available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements
that the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 
  
 (d) promptly, and in any event within five Business Days after receipt
thereof by any Credit Party or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation by such agency regarding financial
or other operational results of any Credit Party or any Subsidiary thereof; and 
  
 (e) promptly, such additional information regarding the business, financial or corporate affairs of any Credit Party or any Subsidiary of a Credit Party, or compliance with the terms of the Credit Documents, as the
Administrative Agent or any Lender may from time to time reasonably request. 
  
 Documents required to be delivered pursuant to Section 7.01(a) or (b) or Section 7.02(d) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the internet at the website address listed on
Schedule 11.02; or (ii) on which such documents are posted on the Borrower’s behalf on an internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or
whether sponsored by the Administrative Agent); provided that: (A) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Borrower to deliver such paper copies until a written
request to cease delivering paper copies is given by the Administrative Agent or such Lender and (B) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent and each Lender of the posting of any such
documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Borrower shall be required to provide paper
copies of the Compliance Certificates required by Section 7.02(a) to the Administrative Agent. Except for such Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the
documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies
of such documents. 
  
 The Credit Parties hereby acknowledge that
the Administrative Agent will make available to the Lenders materials and/or information provided by or on behalf of the Credit Parties hereunder (collectively, the “Credit Party Materials”) by posting the Credit Party Materials on
IntraLinks or another similar electronic system (the “Platform”) and that certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect
to the Credit Parties or their securities) (each, a “Public Lender”). The Credit Parties hereby agree that (1) all Credit Party Materials that are to be made available to Public Lenders 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); (2) by marking the Credit Party Materials “PUBLIC,” the Credit Parties shall be 
  

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 deemed to have authorized the Administrative Agent and the Lenders to treat such Credit Party Materials as either
publicly available information or not material information (although it may be sensitive and proprietary) with respect to the Credit Parties or their securities for purposes of United States federal and state securities laws; (3) all Credit Party
Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated as “Public”; and (4) the Administrative Agent shall be entitled to treat any Credit Party Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not marked as “Public”. 
  
 7.03 Notification. 
  
 Promptly notify the Administrative Agent: 
  
 (a) of the occurrence of any Default or Event of Default; 
  
 (b) of any matter that has resulted or would reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance of, or
any default under, a Contractual Obligation of the Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of,
or any material development in, any litigation or proceeding affecting the Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws; 
  

(c) of the occurrence of any ERISA Event; 
  
 (d) of any material change in accounting policies or financial reporting practices by the Borrower or any Subsidiary; and 
  
 (e) of any litigation, investigation or proceeding affecting any Credit Party
in which the amount involved or relief sought would reasonably be expected to have a Material Adverse Effect. 
  
 Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence
referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 7.03(a) shall describe with particularity any and all provisions of this Credit Agreement and any
other Credit Document that have been breached. 
  
 7.04
Payment of Obligations. 
  
 Pay and discharge as the
same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by
appropriate proceedings diligently conducted or adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims that, if unpaid, would by law become a Lien upon its property; and (c) all
Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness. 
  
 7.05 Preservation of Existence, Etc. 
  
 (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization
(except in connection with a transaction permitted by Section 8.04 or 8.05); 
  

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 (b) take all commercially reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect; and 
  
 (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of
which would reasonably be expected to have a Material Adverse Effect. 
  
 7.06 Maintenance of Properties. 
  
 (a)
Maintain, preserve and protect all of its material Property and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; 
  
 (b) make all necessary repairs thereto and renewals and replacements thereof, except where the failure to do so would not
reasonably be expected to have a Material Adverse Effect; and 
  
 (c) use the standard of care typical in the industry in the operation and maintenance of its facilities. 
  
 7.07 Maintenance of Insurance. 
  
 Maintain in full force and effect with financially sound and reputable insurance companies that are not Affiliates of the Borrower, insurance with respect
to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by such other
Persons, which identifies the Collateral Agent as loss payee, with respect to casualty insurance, and as additional insured with respect to liability insurance and provides for not less than thirty days’ prior notice to the Collateral Agent of
the termination, lapse or cancellation of any such insurance or as may otherwise be provided in the Collateral Documents. 
  
 7.08 Compliance with Laws; ERISA Compliance. 
  
 (a) Comply in all material respects with the requirements of all Laws (including Environmental Laws) and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in which (i) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (ii) the failure
to comply therewith would not reasonably be expected to have a Material Adverse Effect. 
  
 (b) Do, and cause each of its ERISA Affiliates to do, each of the following: 
  
 (i) maintain each Plan, in all material respects, in compliance with the applicable provisions of ERISA, the Internal Revenue Code and
other applicable Law; 
  
 (ii) cause each Plan
that is qualified under Section 401(a) of the Internal Revenue Code to maintain such qualification; and 
  
 (iii) make all required contributions to any Plan subject to Section 412 of the Internal Revenue Code. 
  

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 7.09 Books and Records. 
  
 Maintain (a) proper books of record and account, in which true and correct entries in conformity with GAAP shall be made of
all financial transactions and matters involving the assets and business of the Borrower or such Subsidiary, as the case may be, and (b) such books of record and account in material conformity with all applicable requirements of any Governmental
Authority having regulatory jurisdiction over the Borrower or such Subsidiary. 
  
 7.10 Inspection Rights. 
  
 Permit representatives and independent contractors of the Administrative Agent to visit and inspect any of its properties, to conduct field audits, to examine its corporate, financial and operating records, and make copies thereof or
abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may
be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, that (a) unless an Event of Default exists, no more than one inspection per fiscal quarter shall be at the expense of the Borrower, (b) one or more
representatives of the Borrower may be present during such inspection, (c) one or more representatives of any Lender may be present during any such inspection and (d) when an Event of Default exists the Administrative Agent or any Lender (or any of
their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice. 
  
 7.11 Use of Proceeds. 
  
 Use the proceeds of Revolving Obligations for working capital, acquisitions,
capital expenditures and general corporate purposes not in contravention of any Law or of any Credit Document, including payments on the Convertible Notes, with a portion of the proceeds of the initial Borrowing hereunder and to pay the Make-Whole
Amount in connection therewith. 
  
 7.12 Joinder of
Subsidiaries as Guarantors. 
  
 Promptly notify the
Administrative Agent of the formation, acquisition (or other receipt of interests) or existence of any Domestic Subsidiary that holds assets in excess of $100,000, which notice shall include information as to the jurisdiction of organization, the
number and class of Capital Stock outstanding and ownership thereof (including options, warrants, rights of conversion or purchase relating thereto), and with respect to any such Subsidiary that is a Domestic Subsidiary, within thirty (30) days of
the formation, acquisition or other receipt of interests thereof, cause the joinder of such Subsidiary as a Guarantor pursuant to Joinder Agreements (or such other documentation in form and substance reasonably acceptable to the Administrative
Agent) accompanied by Organization Documents and favorable opinions of counsel to such Credit Party, in form and substance reasonably satisfactory to the Administrative Agent. 
  
 7.13 Guaranties and Support Obligations in Respect of other Funded Debt. 
  
 The Borrower will not permit any of its Subsidiaries to give a guaranty or
other Support Obligation in respect of Funded Debt, unless (i) the guaranty or other Support Obligation is otherwise permitted hereunder and (ii) such Subsidiary shall have given a guaranty of the Obligations hereunder on an equal and ratable basis
by becoming a Guarantor pursuant to the terms hereof. 
  

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 7.14 Pledge of Capital Stock. 
  
 Pledge or cause to be pledged to the Collateral Agent to secure the
Obligations (a) 100% of the issued and outstanding Capital Stock of each Domestic Subsidiary that holds assets in excess of $100,000 within thirty (30) days of its formation, acquisition or other receipt of such interests and (b) 65% of the issued
and outstanding Capital Stock of each Material Foreign Subsidiary within sixty (60) days of its formation, acquisition or other receipt of such interests, in each case pursuant to the Pledge Agreement or pledge joinder agreements, together with
opinions of counsel and any filings and deliveries reasonably requested by the Collateral Agent in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the Administrative Agent. The
requirement pursuant to clause (b) for the pledge of not more than 65% of the Capital Stock in each Material Foreign Subsidiary is intended to avoid treatment of the undistributed earnings of a Foreign Subsidiary as a deemed dividend to its
United States parent for United States federal income tax purposes. Each Credit Party shall pledge or cause to be pledged any greater percentage of its interest in a Material Foreign Subsidiary that (whether pursuant to existing Law or as the result
of changes to, or clarifications of, existing Law after the date hereof) (i) would not reasonably be expected to cause the undistributed earnings of such Material Foreign Subsidiary to be treated as a deemed dividend to the United States parent of
such Foreign Subsidiary, as determined for United States federal income tax purposes, and (ii) would not otherwise reasonably be expected to result in material adverse tax consequences to such Material Foreign Subsidiary or its United States parent.

  
 7.15 Pledge of Other Property. 
  
 Pledge and grant a security interest in all of its personal property,
tangible and intangible, owned and leased (except (a) Excluded Property and (b) as otherwise set forth in Section 7.13 with respect to Capital Stock) to secure the Obligations, within, in the case of any such personal property, thirty (30)
days of the acquisition thereof and, in the case of any such real property, within sixty (60) days of the acquisition thereof, in each case pursuant to such pledge and security agreements, joinder agreements or other documents, together with
opinions of counsel and any filings and deliveries reasonably requested by the Collateral Agent in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the Administrative Agent.

  
 7.16 Post-Closing Deliveries. 
  
 Within 45 days after the Closing Date (or within 60 days of the Closing Date
if mutually agreed upon by the Administrative Agent and the Borrower), deliver executed pledges of the Capital Stock of the Material Foreign Subsidiaries and foreign counsel opinions relating to such pledges. Such opinions shall (1) be based
upon charges of shares in substantially the same form and substance to the charges of shares delivered in connection with the Existing Credit Agreement and (2) be in substantially the same form and substance as the foreign counsel opinions rendered
under the Existing Credit Agreement. 
  

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 ARTICLE VIII 
  
 NEGATIVE COVENANTS 
  
 Until the Loan Obligations shall have been paid in full or otherwise satisfied, and the Commitments hereunder shall have expired or been terminated, the
Credit Parties will not, and will not permit any of their Subsidiaries to: 
  
 8.01 Liens. 
  
 Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 
  
 (a) Liens pursuant to any Credit Document securing the Loan Obligations; 
  
 (b) Liens in favor of a Lender or any of its Affiliates pursuant to a Swap
Contract or Treasury Management Agreement permitted hereunder, but only to the extent that (i) the obligations under such Swap Contract or Treasury Management Agreement are permitted under Section 8.03, (ii) such Liens are on the same
collateral that secures the Loan Obligations and (iii) the obligations under such Swap Contract or Treasury Management Agreement and the Loan Obligations share pari passu (subject to Section 9.03) in the collateral that is subject to
such Liens; 
  
 (c) Liens existing on the date hereof and listed
on Schedule 8.01 and any renewals or extensions thereof, provided that the property covered thereby is not increased and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 8.03(b);

  
 (d) Liens for taxes not yet due or that are being contested in
good faith and by appropriate proceedings diligently conducted or if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 
  
 (e) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising
in the ordinary course of business that are not overdue for a period of more than thirty days or that are being contested in good faith or by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on
the books of the applicable Person; 
  
 (f) pledges or deposits in
the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
  
 (g) deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations,
surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
  
 (h) easements, rights-of-way, restrictions and other similar encumbrances affecting real property that, in the aggregate,
are not substantial in amount, and that do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 
  
 (i) Liens securing judgments for the payment of money not constituting an
Event of Default under Section 9.01(h) or securing appeal or other surety bonds related to such judgments; and 
  
 (j) Liens securing, or in respect of, obligations (including obligations of any Person who becomes a member of the Consolidated Group) under capital
leases or Synthetic Leases and purchase money obligations for fixed or capital assets; provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness
secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition. 
  

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 8.02 Investments. 
  
 Make or permit to exist any Investments, except: 
  
 (a) cash and Cash Equivalents; 
  
 (b) Investments (including intercompany Investments) existing on the date hereof and listed on Schedule 8.02(b); 
  
 (c) to the extent not prohibited by applicable Law, advances to officers,
directors and employees of the Borrower and Subsidiaries in an aggregate amount not to exceed $5 million at any time outstanding, for any travel, entertainment, relocation and analogous ordinary business purposes; 
  
 (d) Investments consisting of extensions of credit in the nature of accounts
receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably
necessary in order to prevent or limit loss; 
  
 (e) Investments
by the Borrower and Domestic Subsidiaries in Domestic Subsidiaries; 
  
 (f) Investments by Foreign Subsidiaries in any member of the Consolidated Group (including other Foreign Subsidiaries); 
  
 (g) Investments constituting Indebtedness and Support Obligations permitted by Section 8.03; 
  
 (h) Investments (including investments in Foreign Subsidiaries) made as a
part of Permitted Acquisitions; 
  
 (i) additional Investments in
Foreign Subsidiaries from the Closing Date in an aggregate principal amount not to exceed $15 million at any time; 
  
 (j) other Investments not contemplated in the foregoing clauses of this Section in an aggregate principal amount not to exceed $12 million at any time;

  
 (k) to the extent permitted by applicable Laws, loans to
Designated Officers of the Borrower that (i) the Borrower is obligated to make and (ii) are made after the Closing Date for the purpose of paying taxes on certain securities of the Borrower in accordance with certain restricted stock award
agreements, promissory notes and stock pledge agreements; and 
  
 (l) Investments in securities of account debtors received pursuant to any plan or reorganization or similar arrangement upon the bankruptcy or insolvency of such account debtors. 
  

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 8.03 Indebtedness. 
  
 Create, incur, assume or suffer to exist any Indebtedness, except: 
  
 (a) Indebtedness under the Credit Documents; 
  
 (b) Indebtedness outstanding on the date hereof and listed on Schedule
8.03 and any refinancings, refundings, renewals or extensions thereof; provided that the principal amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension, but the principal amount of
any such refinancing, refunding, renewal or extension may include (i) the principal amount of unfunded commitments relating thereto, (ii) a reasonable premium or other reasonable amount paid, and (iii) the costs thereof, including reasonable fees
and expenses incurred in connection therewith. 
  
 (c) obligations
(contingent or otherwise) of any member of the Consolidated Group existing or, upon ten (10) days prior written notice to the Administrative Agent, arising under any Swap Contract, provided that such obligations are entered into by such
Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities
issued by such Person, and not for purposes of speculation or taking a “market view”. 
  
 (d) intercompany Indebtedness among members of the Consolidated Group to the extent permitted by Section 8.02; 
  
 (e) Indebtedness under capital leases, Synthetic Leases obligations and
purchase money obligations incurred to provide all or a portion of the purchase price (or cost of construction or acquisition), in each case, for capital assets and refinancings, refundings, renewals or extensions thereof; provided that (i)
such Indebtedness when incurred shall not exceed the purchase price or cost of construction of such asset, (ii) no such Indebtedness shall be refinanced for a principal amount in excess of the principal balance outstanding thereon at the time of the
refinancing, and (iii) the aggregate principal amount of all such Indebtedness shall not at any time exceed $10 million; 
  
 (f) Support Obligations by members of the Consolidated Group in respect of Indebtedness permitted under clauses (a) through (e) of this
Section; 
  
 (g) Subordinated Debt; and 
  
 (h) other Funded Debt of the Borrower not contemplated in the foregoing
clauses of this Section in an aggregate principal amount not to exceed $5 million at any time. 
  
 8.04 Mergers and Dissolutions. 
  
 Merge, dissolve, liquidate, consolidate with or into another Person, except that, so long as no Default or Event of Default exists or would result therefrom, (a) any Subsidiary may merge or consolidate with (i) the
Borrower, provided that the Borrower shall be the continuing or surviving Person, (ii) any Guarantor, provided that if such Guarantor is a Domestic Credit Party, a Domestic Credit Party shall be the continuing or surviving Person or
(iii) another Subsidiary, provided that (A) if such Subsidiary is a Wholly Owed Subsidiary, a Wholly Owned Subsidiary shall be the continuing or surviving Person and (B) if such Subsidiary is a Domestic Subsidiary, a Domestic Subsidiary shall
be the continuing or surviving Person; (b) any Subsidiary may be dissolved or liquidated, provided that its assets are Disposed of pursuant to Section 8.05; and (c) in connection with an Acquisition permitted hereunder effected by a

  

 72 

 merger in which the Borrower or, in a merger in which the Borrower is not a party, a Wholly Owned Subsidiary of the
Borrower, is the surviving corporation or the surviving corporation becomes a Wholly Owned Subsidiary of the Borrower. 
  
 8.05 Dispositions. 
  
 Make any Disposition or enter into any agreement to make any Disposition to or in favor of any Person, except: 
  
 (a) Dispositions of property by any Subsidiary to a Credit Party or another
Subsidiary, provided that (i) if the transferor in such transaction is a Guarantor, then the transferee must be a Credit Party, and (ii) if the transferor in such transaction is a Wholly Owned Subsidiary, then the transferee must be a Credit
Party or a Wholly Owned Subsidiary; and 
  
 (b) other Dispositions
by the Consolidated Group, provided that (i) at the time of such Disposition, no Default or Event of Default shall exist or would result from such Disposition and (ii) the aggregate book value of all property Disposed of in reliance on this
clause (c) in any fiscal year shall not exceed $5 million; 
  
 (c) Dispositions of certain assets of the Credit Parties set forth on Schedule 8.05 hereof; and 
  
 (d) other Dispositions of assets acquired in connection with a Permitted Acquisition, provided such Disposition occurs within one hundred eighty
(180) days of such Permitted Acquisition, 
  
 provided, however, that with
respect to clauses (a), (b) and (d) above, any such Disposition shall be for fair market value. 
  
 8.06 Restricted Payments. 
  
 Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no
Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 
  
 (a) Subsidiaries of the Borrower may pay dividends and make distributions in respect of their Capital Stock; 
  
 (b) the Borrower may declare and make dividend payments or other
distributions payable solely in the common stock or other common equity interests of such Person; 
  
 (c) the Borrower may purchase, redeem or otherwise acquire shares of its common stock or other common equity interests or warrants or options to acquire
any such shares with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common equity interests; 
  
 (d) the Borrower may make payments and prepayments on and redemption of the Convertible Notes, including, without limitation, the Make-Whole Amount;

  

 73 

 (e) so long as no Default or Event of Default shall exist immediately prior thereto or immediately after
giving effect thereto, 
  
 (i) the Borrower may declare or pay
cash dividends to its stockholders and purchase, redeem or otherwise acquire shares of its Capital Stock or warrants, rights or options to acquire any such shares for cash solely; provided, that such dividends or acquisition of shares for
cash in an aggregate amount at any time shall not exceed (i) $10 million if the Consolidated Leverage Ratio, on a Pro Forma Basis, is greater than or equal to 1.0 to 1.0 or (ii) $20 million if the Consolidated Leverage Ratio, on a Pro Forma Basis,
is less than 1.0 to 1.0; 
  
 (ii) the Borrower may purchase
Capital Stock from officers and employees of the Borrower to the extent the aggregate amount of all such purchases does not exceed $2 million during the term of this Credit Agreement; and 
  
 (iii) in addition to the purchases permitted under clause (ii) above, the Borrower may purchase Capital Stock of the
Borrower held by Designated Officers, provided that the aggregate amount paid in connection therewith is less than $15 million per fiscal year and the proceeds of such repurchases are immediately paid to the Borrower to repay loans and
advances made by the Borrower to any of the Designated Officers prior to the Closing Date; and 
  
 (f) the Borrower may make exchanges of its Capital Stock for its Capital Stock or delivery of Capital Stock for the exercise price of stock options in lieu of cash. 
  
 8.07 Change in Nature of Business. 
  
 Engage in any line of business other than the businesses engaged in on the
date hereof and businesses reasonably related or complementary thereto to the extent reasonably comparable to the lines of business engaged in by the Borrower and its Subsidiaries on the Closing Date. 
  
 8.08 Change in Fiscal Year. 
  
 Change its fiscal year without the prior written consent of the Required
Lenders. 
  
 8.09 Transactions with Affiliates.

  
 Enter into any transaction of any kind with any Affiliate
of the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such Subsidiary at the time in a
comparable arm’s length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to transactions between or among Domestic Credit Parties. 
  
 8.10 Prepayment of other Funded Debt. 
  
 (a) After the issuance thereof, amend or modify (or permit the amendment or
modification of) the terms of any Funded Debt in a manner adverse in any material respect to the interests of the Lenders (including specifically shortening any maturity or average life to maturity or requiring any payment sooner than previously
scheduled or increasing the interest rate or fees applicable thereto); 
  
 (b) Amend or modify, or permit or acquiesce to the amendment or modification (including waivers) of, any material provisions of any Subordinated Debt, including any notes or instruments evidencing any Subordinated Debt and any indenture or
other governing instrument relating thereto; 
  
 (c) Make any
payment in contravention of the terms of any Subordinated Debt; or 
  

 74 

 (d) Except in connection with (i) the redemption of the Convertible Notes contemplated herein or (ii) a
refinancing or refunding permitted hereunder, make any prepayment, redemption, defeasance or acquisition for value of (including by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when
due), or refund, refinance or exchange of, any Funded Debt (other than the Indebtedness under the Credit Documents, intercompany Indebtedness permitted hereunder and Indebtedness permitted under Section 8.03(f) and (g)) other than regularly
scheduled payments of principal and interest on such Funded Debt. 
  
 8.11 No Further Negative Pledges. 
  
 Enter into any Contractual Obligation (other than this Credit Agreement and the other Credit Documents) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments to the Borrower or any Guarantor or to otherwise transfer
property to the Borrower or any Guarantor, (ii) of any Subsidiary to guarantee the Indebtedness of the Borrower or (iii) of the Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided,
however, that this clause (iii) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 8.03(e) solely to the extent any such negative pledge relates to the property
financed by or the subject of such Indebtedness; or (b) requires the grant of a Lien to secure an obligation of such Person in connection with the grant of any Lien to secure another obligation of such Person. 
  
 8.12 Financial Covenants. 
  
 (a) Consolidated Net Worth. Permit Consolidated Net Worth as of the
end of each fiscal quarter to be less than the sum of (i) $121.9 million, plus (ii) as of the end of each fiscal quarter, an amount equal to 50% of Consolidated Net Income for the fiscal quarter then ended (but not less than zero and with no
deduction for net losses, except for losses associated with the payment of the make-whole premium on the early redemption of the Convertible Notes – 2008), plus (iii) an amount equal to 75% of the Net Cash Proceeds received from Equity
Transactions occurring after the Closing Date, plus (iv) an amount equal to 85% of the net increase in shareholders equity associated with the conversion of the Convertible Notes – 2008 (which shall be net of the deferred financing costs
of such Convertible Notes – 2008 and the Make-Whole Amount). 
  
 (b) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.5 to 1.0. 
  
 (c) Consolidated Leverage Ratio. Permit the Consolidated Leverage
Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.0 to 1.0. 
  
 (d) Consolidated EBITDA. Permit the ratio of Consolidated EBITDA, after deducting that portion of Consolidated EBITDA attributable to Subsidiaries based or primarily operating outside of the United States, to
Consolidated EBITDA as of the end of any fiscal quarter of the Borrower for the period of four fiscal quarters then ending, to be less than .55 to 1.0. 
  

 75 

 ARTICLE IX 
  
 EVENTS OF DEFAULT AND REMEDIES 
  
 9.01 Events of Default. 
  
 Any of the following shall constitute an Event of Default: 
  
 (a) Non-Payment. The Borrower or any other Credit Party fails to pay (i) when and as required to be paid herein, and
in the currency required hereunder, any amount of principal of any Loan or any L/C Obligation, or (ii) within five days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or any other amount
payable hereunder or under any other Credit Document; or 
  
 (b)
Specific Covenants. The Borrower or any other Credit Party fails to perform or observe any term, covenant or agreement contained in any of Section 7.01, 7.02, 7.03, 7.05, 7.10, or 7.11 or Article
VIII; or 
  
 (c) Other Defaults. The Borrower or any
other Credit Party fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Credit Document on its part to be performed or observed and such failure continues for
thirty (30) days; or 
  
 (d) Representations and
Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower or any other Credit Party herein, in any other Credit Document, or in any document delivered in connection herewith
or therewith shall be false or misleading in any material respect when made or deemed made; or 
  
 (e) Cross-Default. (i) Any member of the Consolidated Group (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any
Indebtedness or Support Obligations (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under
any combined or syndicated credit arrangement) of more than $1 million, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Support Obligations or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Support Obligations (or
a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed
(automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Support Obligations to become payable or cash collateral in respect thereof to be demanded; or
(ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in
such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Borrower or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Borrower or such
Subsidiary as a result thereof is greater than $1 million; or 
  
 (f) Insolvency Proceedings, Etc. Any member of the Consolidated Group institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for 
  

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 the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of
such Person and the appointment continues undischarged or unstayed for sixty calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of
such Person and continues undismissed or unstayed for sixty calendar days, or an order for relief is entered in any such proceeding; or 
  
 (g) Inability to Pay Debts; Attachment. (i) Any member of the Consolidated Group becomes unable or admits in writing its inability or fails
generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully
bonded within thirty days after its issue or levy; or 
  
 (h)
Judgments. There is entered against any member of the Consolidated Group (i) a final judgment or order for the payment of money in an aggregate amount exceeding $1 million (to the extent not covered by independent third-party insurance as to
which the insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement
proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of ten consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 

 
 (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan
or Multiemployer Plan that has resulted or would reasonably be expected to result in liability of a Credit Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $1 million, or (ii) a
Credit Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate
amount in excess of $1 million; or 
  
 (j) Invalidity of Credit
Documents. Any Credit Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Credit
Party or any other Person contests in any manner the validity or enforceability of any Credit Document; or any Credit Party denies that it has any or further liability or obligation under any Credit Document, or purports to revoke, terminate or
rescind any Credit Document; or 
  
 (k) Change of Control.
There occurs any Change of Control with respect to the Borrower. 
  
 9.02 Remedies Upon Event of Default. 
  
 If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
  
 (a) declare the commitments of the Lenders to make Loans and the obligation
of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
  

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 (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid
thereon, and all other amounts owing or payable hereunder or under any other Credit Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the
Borrower; 
  
 (c) require that the Borrower Cash Collateralize the
L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 
  
 (d) exercise on behalf of itself and the Lenders all rights and remedies available to it or to the Lenders under the Credit Documents or applicable Law; 
  
 provided, however, that upon the occurrence of an Event of Default under Section 9.01(f) or (g), the obligation of each
Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become
due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender. 
  
 9.03 Application of Funds. 
  
 After the exercise of remedies provided for in Section 9.02 (or after
the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 9.02), any amounts received on account of the
Obligations shall be applied by the Administrative Agent in the following order: 
  
 First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including all
reasonable fees, expenses and disbursements of any law firm or other counsel and amounts payable under Article III) payable to the Administrative Agent and the Collateral Agent, in each case in its capacity as such; 
  
 Second, to payment of that portion of the Obligations
constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders (including all reasonable fees, expenses and disbursements of any law firm or other counsel and amounts payable under Article III),
ratably among the Lenders in proportion to the amounts described in this clause Second payable to them; 
  
 Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans, L/C Borrowings and
other Obligations, ratably among the Lenders, the Swingline Lender and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 
  
 Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans
and L/C Borrowings, (b) payment of breakage, termination or other amounts owing in respect of any Swap Contract between any Credit Party and any Lender, or any Affiliate of a Lender, to the extent such Swap Contract is permitted hereunder, (c)
payments of amounts due under any Treasury Management Agreement between any Credit Party and any Lender, or any Affiliate of a Lender and (d) the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of the L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among such parties in proportion to the respective amounts described in this clause Fourth payable to them; and 
  

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 Last, the balance, if any, after all of the Obligations have been indefeasibly
paid in full, to the Borrower or as otherwise required by Law. 
  
 Subject to
Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount
remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
  
 ARTICLE X 
  
 ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
  
 10.01 Appointment and Authorization of Administrative Agent and
Collateral Agent. 
  
 (a) Each of the Lenders and
the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Credit Documents 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 or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative
Agent, the Lenders and the L/C Issuer, and neither the Borrower nor any other Credit Party shall have rights as a third party beneficiary of any of such provisions. 
  
 (b) Each Lender hereby irrevocably appoints, designates and authorizes the Collateral Agent to take such action on its
behalf under the provisions of this Credit Agreement and each Collateral Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Credit Agreement or any Collateral Document, together with
such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any Collateral Document, the Collateral Agent shall not have any duties or responsibilities, except those expressly set
forth herein or therein, nor shall the Collateral Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into
this Credit Agreement or any Collateral Document or otherwise exist against the Collateral Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in the Collateral Documents with reference
to the Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create
or reflect only an administrative relationship between independent contracting parties. The Collateral Agent shall act on behalf of the Lenders with respect to any Collateral and the Collateral Documents, and the Collateral Agent shall have all of
the benefits and immunities (i) provided to the Administrative Agent under the Credit Documents with respect to any acts taken or omissions suffered by the Collateral Agent in connection with any Collateral or the Collateral Documents as fully as if
the term “Administrative Agent” as used in such Credit Documents and in the definition of “Agent-Related Person” included the Collateral Agent with respect to such acts or omissions, and (ii) as additionally provided herein or in
the Collateral Documents with respect to the Collateral Agent. 
  
 (c) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and 
  

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 immunities (i) provided to the Administrative Agent in this Article X with respect to any acts taken or omissions
suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term “Administrative
Agent” as used in this Article X and in the definition of “Agent-Related Person” included the L/C Issuer with respect to such acts or omissions, and (ii) as additionally provided herein and in any Issuer Documents with respect
to the L/C Issuer. 
  
 10.02 Rights as a Lender.

  
 The Person 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 the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or
in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to
the Lenders. 
  
 10.03 Exculpatory Provisions.

  
 The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Credit Documents. Without limiting the generality of the foregoing, the Administrative Agent: 
  
 (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
  
 (b) shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Credit Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Credit Documents), provided that the Administrative Agent shall not be required to take any action that, in its
opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Credit Document or applicable law; and 
  
 (c) shall not, except as expressly set forth herein and in the other Credit Documents, 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 Affiliates that is communicated to or obtained by the Person serving as the 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 (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 11.01 and 9.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice
describing such Default is given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer. 
  
 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 Credit Agreement or 
  

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 any other Credit Document, (ii) the contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Administrative Agreement, any other Credit Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article V or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent. 
  
 10.04 Reliance by 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 (including any
electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated 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 have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a
Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall
have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. 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. 
  
 10.05 Delegation of Duties. 
  
 The Administrative Agent may perform any and all of its duties and exercise
its rights and powers hereunder or under any other Credit Document 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 of its duties and exercise its
rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article 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. 
  
 10.06 Resignation of the Administrative Agent. 
  
 The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice
of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If
no such 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 L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Credit
Documents (except that in the case of any collateral security held by the 
  

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 Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Credit Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the Administrative
Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be
discharged from all of its duties and obligations hereunder or under the other Credit Documents (if not already discharged therefrom as provided above in this Section). 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 retiring Administrative Agent’s resignation hereunder and under the other Credit Documents, the provisions of this Article
and Section 11.04 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 the retiring
Administrative Agent was acting as Administrative Agent. 
  
 Any
resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swingline Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a)
such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and Swingline Lender, (b) the retiring L/C Issuer and Swingline Lender shall be discharged from all of their
respective duties and obligations hereunder or under the other Credit Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make
other arrangement satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
  
 10.07 Non-Reliance on Administrative Agent and Other Lenders. 
  
 Each Lender and the L/C Issuer acknowledges that it has, independently and
without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Credit
Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties 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 Credit Agreement, any other Credit Document or any related agreement or any document furnished hereunder or thereunder.

  
 10.08 No Other Duties. 
  
 Anything herein to the contrary notwithstanding, none of the Book Managers,
Sole Book Managers, Arrangers, Lead Arrangers, Co-Lead Arrangers, Syndication Agents or Documentation Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Credit Agreement or any of the other Credit
Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder. 
  

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 10.09 Indemnification of Administrative Agent. 
  
 Whether or not the transactions contemplated hereby are consummated, the
Lenders shall indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of any Credit Party and without limiting the obligation of any Credit Party to do so), pro rata, and hold harmless each Agent-Related Person
from and against any and all Indemnified Liabilities incurred by it; provided, however, that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities to the extent determined in a
final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Agent-Related Person’s own gross negligence or willful misconduct; provided, however, that no action taken in accordance with the directions of
the Required Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section. Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of
any costs or out-of-pocket expenses (including all reasonable fees, expenses and disbursements of any law firm or other counsel) incurred by the Administrative Agent in connection with the preparation, execution, delivery, administration,
modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Credit Agreement, any other Credit Document, or any document contemplated
by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the Borrower. The undertaking in this Section shall survive termination of the Aggregate Commitments, the payment of all
other Obligations and the resignation of the Administrative Agent. 
  
 10.10 Administrative Agent May File Proofs of Claim. 
  
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Credit Party, the Administrative
Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the
Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
  
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations (other than obligations under Swap Contracts or
Treasury Management Agreements to which the Administrative Agent is not a party) that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the
Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the
Lenders, the L/C Issuer and the Administrative Agent under Sections 2.09 and 11.04) allowed in such judicial proceeding; and 
  
 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
  
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly
to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Sections 2.09 and 11.04. 
  

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 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to
or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the
claim of any Lender in any such proceeding. 
  
 10.11
Collateral and Guaranty Matters. 
  
 The Lenders and
the L/C Issuer irrevocably authorize the Administrative Agent and the Collateral Agent, at its option and in its discretion: 
  
 (a) to release any Lien on any property granted to or held by the Collateral Agent under any Credit Document (i) upon termination of the Aggregate
Commitments and payment in full of all Obligations (other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale permitted
hereunder or under any other Credit Document, or (iii) subject to Section 11.01, if approved, authorized or ratified in writing by the Required Lenders; 
  

(b) to subordinate any Lien on any property granted to or held by the Collateral Agent under any Credit Document to the holder of any Lien on such
property that is permitted by Section 8.01(j); and 
  
 (c)
to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. 
  
 Upon request by the Administrative Agent or the Collateral Agent at any time, the Required Lenders will confirm in writing the authority of the Collateral
Agent to release or subordinate its interest in particular property and of the Administrative Agent to release any Guarantor from its obligations hereunder pursuant to this Section 10.11. 
  
 ARTICLE XI 
  
 MISCELLANEOUS 
  
 11.01 Amendments, Etc. 
  
 No amendment or waiver of, or any consent to deviation from, any provision
of this Credit Agreement or any other Credit Document shall be effective unless in writing and signed by the Borrower or the applicable Credit Party, as the case may be, and the Required Lenders and acknowledged by the Administrative Agent, and each
such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which it is given; provided, however, that: 
  
 (a) unless also consented to in writing by each Lender directly affected thereby, no such amendment, waiver or consent
shall: 
  
 (i) extend or increase the Commitment
of any Lender (or reinstate any Commitment terminated pursuant to Section 9.02), it being understood that the amendment or waiver of an Event of Default or a mandatory reduction or a mandatory prepayment in Commitments shall not be considered
an increase in Commitments, 
  

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 (ii) waive non-payment or postpone any date fixed by this Credit Agreement or any other
Credit Document for any payment of principal, interest, fees or other amounts due to any Lender hereunder or under any other Credit Document, 
  
 (iii) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or any fees or other amounts
payable hereunder or under any other Credit Document; provided, however, that only the consent of the Required Lenders shall be necessary (A) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to
pay interest or Letter of Credit Fees at the Default Rate or (B) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing
or to reduce any fee payable hereunder, 
  
 (iv)
change any provision of this Credit Agreement regarding pro rata sharing or pro rata funding with respect to (A) the making of advances (including participations), (B) the manner of application of payments or prepayments of principal, interest, or
fees, (C) the manner of application of reimbursement obligations from drawings under Letters of Credit, or (D) the manner of reduction of commitments and committed amounts, 
  
 (v) amend Section 1.06 or the definition of “Alternative Currency” without the written
consent of each Lender, 
  
 (vi) change any
provision of this Section 11.01(a) or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder, 
  
 (vii) release all or substantially all of the Collateral (other than as provided herein or as appropriate in connection with transactions permitted hereunder), or 
  
 (viii) release all or substantially all of the Guarantors from their obligations under the Credit Documents
(other than as provided herein or as appropriate in connection with transactions permitted hereunder); 
  
 (b) unless also consented to in writing by the L/C Issuer, no such amendment, waiver or consent shall affect the rights or duties of the L/C Issuer under
this Credit Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; 
  
 (c) unless also consented to in writing by the Swingline Lender, no such amendment, waiver or consent shall affect the rights or duties of the Swingline
Lender under this Credit Agreement; 
  
 (d) unless also consented
to in writing by the Administrative Agent, no such amendment, waiver or consent shall affect the rights or duties of the Administrative Agent under this Credit Agreement or any other Credit Document; and 
  
 (e) unless also consented to in writing by the Collateral Agent, no such
amendment, waiver or consent shall affect the rights or duties of the Collateral Agent under this Credit Agreement or any other Credit Document; 
  

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 provided however, that notwithstanding anything to the contrary contained herein, (i) no Defaulting Lender shall
have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender, (ii) each Lender is entitled to vote as such Lender
sees fit on any bankruptcy or insolvency reorganization plan that affects the Loans, (iii) each Lender acknowledged that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth herein, (iv) the
Required Lenders may consent to allow a Credit Party to use cash collateral in the context of a bankruptcy or insolvency proceeding, and (v) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the
parties thereto. 
  
 11.02 Notices; Effectiveness;
Electronic Communication. 
  
 (a) Notices
Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (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 telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to
the applicable telephone number, as follows: 
  
 (i) if to the Borrower, the Administrative Agent, the L/C Issuer or the Swingline Lender, to the address, telecopier number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and 
  
 (ii) if to any other Lender, to the address, telecopier
number, electronic mail address or telephone number specified in its Administrative Questionnaire. 
  
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent
(except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent
provided in subsection (b) below, shall be effective as provided in such subsection (b). 
  
 (b) Electronic Communications. Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by
electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to
Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. 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.

  
 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
business day for the recipient, and (ii) notices or communications 
  

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 posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at
its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 
  
 (c) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender
may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender. 
  
 (d) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to
rely and act upon any notices (including telephonic Loan Notices and Swingline Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded
or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic
communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 
  
 11.03 No Waiver; Cumulative Remedies. 
  
 No failure by any Lender, the L/C Issuer, Swingline Lender or the Administrative Agent to exercise, and no delay by any such Person in exercising, any
right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
  
 11.04 Expenses; Indemnity; Damage Waiver. 
  
 (a) Costs and Expenses. 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, negotiation, execution, delivery and administration of this Credit Agreement and the other Credit Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer 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, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer) in connection with the
enforcement or protection of its rights (A) in connection with this Credit Agreement and the other Credit Documents, including its rights under this Section, or (B) 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) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the 
  

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 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 any Indemnitee or asserted against any Indemnitee by any third party
or by the Borrower or any other Credit Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Credit Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer 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, whether brought by a third party or by the Borrower or any other Credit Party, 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 (x) are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any other Credit Party against an Indemnitee for breach in bad
faith of such Indemnitee’s obligations hereunder or under any other Credit Document, if the Borrower or such Credit Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent
jurisdiction. The Borrower shall have no obligation to indemnify or pay for the costs and expenses of more than one counsel for the Indemnitees, unless any such Indemnitee shall, in good faith, reasonably determine that there is a conflict of
interest that causes it to be reasonably necessary for such Indemnitee to be represented by separate counsel. Counsel chosen to represent any Indemnitee pursuant to the preceding sentence shall be reasonably satisfactory to the Borrower and the
Indemnitees. 
  
 (c) Reimbursement by Lenders. To the
extent that the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related
Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Aggregate Commitment Percentage or, in the case of
L/C Obligations, Revolving Commitment Percentage (determined in each case 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 any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the
foregoing acting for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.11(d). 
  
 (d) Waiver of Consequential Damages, Etc. To the fullest 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 Credit Agreement, any other Credit Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the
proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other
information transmission systems in connection with this Credit Agreement or the other Credit Documents or the transactions contemplated hereby or thereby. 
  

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 (e) Payments. All amounts due under this Section shall be payable not later than ten Business Days
after demand therefor. 
  
 (f) Survival. The agreements in
this Section shall survive the resignation of the Administrative Agent and the L/C Issuer, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

  
 11.05 Payments Set Aside. 
  
 To the extent that any payment by or on behalf of the Borrower is made to
the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party,
in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if
such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent on demand its applicable share (without duplication) of any amount so recovered from or repaid
by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Overnight Rate from time to time in effect, in the applicable currency of such recovery or payment. The
obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Credit Agreement. 
  
 11.06 Successors and Assigns. 
  
 (a) Successors and Assigns Generally. The provisions of this Credit Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Credit Party may assign or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b)
of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this
Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Credit Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C
Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Credit Agreement. 
  

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 (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees
all or a portion of its rights and obligations under this Credit Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in L/C Obligations and in Swingline Loans)
at the time owing to it); provided that 
  
 (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved
Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the 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 or, if “Trade Date” is specified in the Assignment and Assumption, as of the
Trade Date, shall not be less than $5 million with respect to an assigning Lender’s Revolving Commitment and Revolving Loans unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the
Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); 
  
 (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and
obligations under this Credit Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to rights in respect of Swingline Loans; 
  
 (iii) any assignment of a Commitment must be approved by the Administrative Agent, the L/C Issuer and the
Swingline Lender unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and 
  
 (iv) 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 the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 
  
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Credit Agreement and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Credit 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
Credit Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Credit Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections 3.01, 3.04, 3.05, and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon receipt of a written request, the Borrower (at its expense) shall
execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Credit Agreement that does not comply with this subsection shall be treated for purposes of this Credit Agreement as a sale
by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. 
  
 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the Administrative
Agent’s Office 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 Commitments of, and principal amounts of the Loans and L/C Obligations 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 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 
  

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 this Credit Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by each of
the Borrower and the L/C Issuer at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Credit Documents is pending, any Lender
wishing to consult with other Lenders in connection therewith may request and receive from the Administrative Agent a copy of the Register. 
  
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Credit
Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swingline Loans) owing to it); provided that (i) such Lender’s obligations under this Credit
Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall continue to
deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Credit 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 Credit Agreement and to approve any amendment, modification or waiver of any provision of this Credit Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled
to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.12 as though it were a Lender. 
  
 (e) Limitation upon Participant Rights. A Participant shall not be
entitled to receive any greater payment under Section 3.01 or 3.04 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 3.01 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 3.01(e) as though it were a Lender. 
  
 (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Credit
Agreement (including under its Note(s), if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
  
 (g) Electronic Execution of Assignments. The words “execution”, “signed”, “signature”, and words of like import in
any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
or any other similar state laws based on the Uniform Electronic Transactions Act. 
  

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 (h) Resignation as L/C Issuer or Swingline Lender after Assignment. Notwithstanding anything to
the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon thirty (30) days’ notice to the Borrower and the Lenders, resign as L/C
Issuer and/or (ii) upon thirty (30) days’ notice to the Borrower, resign as Swingline Lender. In the event of any such resignation as L/C Issuer or Swingline Lender, the Borrower shall be entitled to appoint from among the Lenders a successor
L/C Issuer or Swingline Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swingline Lender, as the case may be. If Bank
of America resigns as L/C Issuer, it shall retain all the rights and obligations of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with
respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swingline Lender, it shall retain all the
rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk
participations in outstanding Swingline Loans pursuant to Section 2.04(b). 
  
 11.07 Treatment of Certain Information; Confidentiality. 
  
 Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and representatives (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), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of
any remedies hereunder or under any other Credit Document or any action or proceeding relating to this Credit Agreement or any other Credit Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Credit Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower or (h) 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, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower. 
  
 For purposes of this Section, “Information” means all
information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on
a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary 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. 
  

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 11.08 Right of Setoff. 
  
 If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any
time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower or any other Credit Party against any and all of the obligations of the
Borrower or such Credit Party now or hereafter existing under this Credit Agreement or any other Credit Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this
Credit Agreement or any other Credit Document and although such obligations of the Borrower or such Credit Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the
branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff)
that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to
give such notice shall not affect the validity of such setoff and application. 
  
 11.09 Interest Rate Limitation. 
  
 Notwithstanding anything to the contrary contained in any Credit Document, the interest paid or agreed to be paid under the Credit Documents shall not exceed the maximum rate of non-usurious interest permitted by
applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds
such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law,
(a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total
amount of interest throughout the contemplated term of the Obligations hereunder. 
  
 11.10 Counterparts; Integration; Effectiveness. 
  
 This Credit Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a
single contract. This Credit Agreement and the other Credit Documents 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 5.01, this Credit Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts
hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Credit Agreement by telecopy shall be effective as delivery of a manually executed counterpart
of this Credit Agreement. 
  
 11.11 Survival of
Representations and Warranties. 
  
 All representations
and warranties made hereunder and in any other Credit Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and
warranties have been or will be 
  

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 relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent
or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or
any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 
  
 11.12 Severability. 
  
 If any provision of this Credit Agreement or the other Credit Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and
enforceability of the remaining provisions of this Credit Agreement and the other Credit Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. 
  
 11.13 Replacement of Lenders. 
  
 If any
Lender requests compensation under Section 3.04, 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 3.01, or if any Lender is a
Defaulting Lender, 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, and consents required by, Section 11.06), all of its interests, rights and obligations under this Credit Agreement and the related Credit Documents to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment), provided that: 
  
 (a) the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 11.06(b); 
  
 (b) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder and under the other Credit Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrower (in the case of all other amounts); 
  
 (c) in the case
of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;
and 
  
 (d) such assignment does not conflict with
applicable Laws. 
  
 A Lender shall not be required
to make any such assignment or 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. 
  
 11.14 Governing Law; Jurisdiction; Etc. 
  
 (a) GOVERNING LAW. THIS CREDIT AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  

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 (b) SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER CREDIT PARTY IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF SUCH STATE AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO 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 COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE 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 CREDIT AGREEMENT OR IN ANY OTHER CREDIT
DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT AGAINST THE BORROWER OR ANY OTHER CREDIT
PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
  
 (c)
WAIVER OF VENUE. THE BORROWER AND EACH OTHER CREDIT PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO THIS CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT 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
APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
  
 (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02.
NOTHING IN THIS CREDIT AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
  
 11.15 Waiver of Jury Trial. 
  
 EACH PARTY HERETO HEREBY IRREVOCABLY 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 CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON 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 CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
  

 95 

 11.16 USA PATRIOT Act Notice. 
  
 Each Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (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 or the Administrative Agent, as applicable, to
identify the Borrower in accordance with the Act. 
  
 11.17
Judgment Currency. 
  
 If, for the purposes of
obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Credit Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the
Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or
the Lenders hereunder or under the other Credit Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of
this Credit Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative
Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent from the Borrower
in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement
Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under
applicable law). 
  
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 96 

 IN WITNESS WHEREOF, the parties hereto have caused this Credit Agreement to be duly executed as of the
date first above written. 
  

					
	BORROWER:	 	PTEK HOLDINGS, INC.
			
	 	 	By:	 	 /s/ L. Scott Askins

	 	 	Name:	 	L. Scott Askins
	 	 	Title:	 	Senior Vice President – Legal and Secretary
		
	GUARANTORS:	 	 AMERICAN TELECONFERENCING SERVICES, LTD., a Missouri corporation

	 	 	 PREMIERE CONFERENCING NETWORKS, INC., a Georgia corporation

	 	 	 PTEK SERVICES, INC., a Delaware corporation

	 	 	 XPEDITE NETWORK SERVICES, INC., a Georgia corporation

	 	 	 XPEDITE SYSTEMS, INC., a Delaware corporation

	 	 	 XPEDITE SYSTEMS WORLDWIDE, INC., a Delaware corporation

			
	 	 	By:	 	 /s/ L. Scott Askins

	 	 	Name:	 	L. Scott Askins
	 	 	Title:	 	Senior Vice President – Legal and Secretary

					
	ADMINISTRATIVE AGENT:	 	BANK OF AMERICA, N.A., as Administrative Agent
and Collateral Agent
			
	 	 	By:	 	 /s/ Michael Brashler

	 	 	Name:	 	Michael Brashler
	 	 	Title:	 	Vice President
		
	LENDERS:	 	BANK OF AMERICA, N.A., as L/C Issuer, Swingline Lender and as a Lender
			
	 	 	By:	 	 /s/ W. Brendan Chambers

	 	 	Name:	 	W. Brendan Chambers
	 	 	Title:	 	Vice President
		
	 	 	LASALLE BANK NATIONAL ASSOCIATION
			
	 	 	By:	 	 /s/ James J. Hess

	 	 	Name:	 	James J. Hess
	 	 	Title:	 	First Vice President
		
	 	 	HSBC BANK USA, NATIONAL ASSOCIATION
			
	 	 	By:	 	 /s/ Barbara Baltar

	 	 	Name:	 	Barbara Baltar
	 	 	Title:	 	First Vice President
		
	 	 	REGIONS BANK
			
	 	 	By:	 	 /s/ W. Brad Davis

	 	 	Name:	 	W. Brad Davis
	 	 	Title:	 	Vice President
		
	 	 	CAROLINA FIRST BANK
			
	 	 	By:	 	 /s/ Charles D. Chamberlain

	 	 	Name:	 	Charles D. Chamberlain
	 	 	Title:	 	Executive Vice President

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