Document:

Exhibit
10.7

EXECUTION
VERSION

TRANSACTION SERVICES AGREEMENT

This Agreement (this “Agreement”)
is made and entered into as of 6 July 2005 by and between Blitz F04-506
GmbH, a limited company organized under the laws of Germany, (the “Company”),
Sirona Dental Services  GmbH & Co KG
(“Sirona KG”), Sirona Dental Systems GmbH (“Sirona”) (Sirona BV
and Sirona are together the “Borrowers”), MDP IV Offshore GP, LP, a
Cayman Islands exempted limited partnership and Harry M. Jansen Kraemer, Jr.
(each, an “Advisor” and together, the “Advisors”).

This Agreement records
prior verbal agreements made (i) between the Company and the Advisors on 29
April 2005 and (ii) between each of the Borrowers and the Advisors on 30 April
2005, subject to the acquisition of a controlling interest in their shares
directly or indirectly by the Company.

WHEREAS, the Advisors
have rendered certain services (the “Financial Services”) to the Company
and the Borrowers in connection with the negotiation of the loans contemplated
by the Amended and Restated Senior Facilities Agreement and the Amended and
Restated Mezzanine Facilities Agreement (collectively the “Finance
Agreements”) in respect of which the Borrowers have agreed to pay a fee;

WHEREAS each of the
Borrowers acceded to the Finance Agreements at or around the time that the
Company completed the acquisition of Sirona Dental Systems Beteiligungs und
Verwaltungs GmbH (“Sirona BV”), and indirectly acquired Sirona KG and
Sirona (the “Acquisition”);

WHEREAS the Advisors have
in addition provided certain other services (the “Transaction Advisory
Services”) to the Company in connection with the Acquisition; and

WHEREAS the Financial
Services and the Transaction Advisory Services were rendered through and until
the completion of the Acquisition, and thereupon ceased.

WHEREAS it is anticipated
that Sirona KG will as a result of certain transactions taking place before the
date hereof merge with Sirona BV.

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement have agreed as follows:

1.             Services.  The Advisors have performed Financial
Services for the benefit of the Company and the Borrowers and the Transaction
Advisory Services for the benefit of the Company, each as further described in Section
2 below.

2.             Fees
and Expenses.

(a)           The Company and the
Borrowers hereby agree to pay, in connection with the drawdown of the
borrowings under the Finance Agreements, to the Advisors (or, at the request of
an Advisor, to its designee(s)), (i) a fee for the Financial Services provided
(“Finance Fee”), such fee to be allocated amongst them in proportion as
their respective borrowings 

 

pursuant to the
Finance Agreements, in aggregate equal to five
million, five hundred thousand euro (€5,500,000),
plus irrecoverable VAT in each case where it is applicable, and (ii) all
reasonable out-of-pocket expenses and VAT on those expenses (collectively, the “Finance
Expenses”) incurred by the Advisors and their Affiliates in rendering the
Financial Services.

(b)           The Company hereby
agrees to pay, in connection with the consummation of the Acquisition, to the
Advisors (or, at the request of an Advisor, to its designee(s)), (i) a fee for
Transaction Advisory Services provided in relation to the Acquisition (“Advisory
Fee”) of an amount equal to four
million, five hundred thousand euro (€4,500,000),
plus VAT in each case where it is applicable, and (ii) all reasonable
out-of-pocket expenses (including
fees of certain consultants) and irrecoverable VAT on those expenses
(collectively, the “Transaction Advisory Expenses”) incurred by the Advisors
and their  Affiliates in rendering the
Transaction Advisory Services.

(c)           The Financial Services
and the Transaction Advisory Services are collectively referred to as the “Transaction
Services”, The Finance Fee and the Transaction Advisory Fee are together
the “Transaction Services Fees”. 
The Finance Expenses and the Transaction Advisory Expenses are together
the “Transaction Expenses”.

(d)           The Transaction
Services Fees shall be paid by wire transfer in cash or other immediately
available funds to the account(s) designated by the Advisors in the amounts
shown next to each Advisor’s name on Annex I, together with the
Transaction Expenses.

(e)           The Financial Services
and the Transaction Advisory Services provided shall be evidenced by
documentation recording details of their performance to be agreed upon between
the Company, the Borrowers and the Advisors, such documentation to include by
way of example: details of the date, time, location, type of service and
officer of the Advisors performing the services.

(f)            The Financial Services
include, without limitation, the following:

(i) advice in
relation to financing alternatives for the Acquisition, including discussions
and preliminary negotiations with various potential providers of senior and
mezzanine debt; (ii) assistance in negotiating heads of terms with JP
Morgan PLC and others as lead arrangers of senior and mezzanine debt; and
(iii) assistance in negotiation of the Finance Agreements.

(g)           The Transaction
Advisory Services include, without limitation, the following:

(i)                                     advice and
assistance to the Company in identifying the Acquisition;

(ii)                                  support to the
Company in negotiation of the purchase agreement and structuring and executing
the Acquisition;

(iii)                               preparation of financial
projections, models, and valuations;

(iv)                              due diligence with regard
to the operations and strategy of Sirona BV and its subsidiaries;

 2
 

 

(v)                                 assessment of the
prospects for the business of Sirona BV and its subsidiaries and its
development;

(vi)                              review of marketing plans
and strategies for the business of Sirona BV and its subsidiaries and its
development; and

(vii)                           assessment of the quality of
the key executives in the Sirona BV group.

Legal and
accounting services have not been provided by the Advisors.  The Transaction Services have been conducted
in support of the members of management and boards of directors of the Company
and the Borrowers and, for the avoidance of doubt, such services shall be
considered provided by outside consultants, not managers, of the Company or the
Borrowers.  Pursuant to this Agreement,
the Advisors have not had any authority or power to commit the Company or the
Borrowers to any contracts with third parties.

3.             Recharge of Fees.  The Advisors acknowledge that the Company and
the Borrowers may recharge to their Affiliates such proportion of the
Transaction Services Fees and Transaction Expenses as relates to the benefit
(if any) received by such Affiliates from the relevant Transaction Services and
the Advisors shall, if requested, provide the Company or the Borrowers with
such evidence as they may reasonably request of the services provided for their
Affiliates’ benefit.

4.             Liability.  Neither the Advisors nor any of their
Affiliates, partners, members, employees or agents (collectively, the “Advisor
Group”) shall be liable to any of the Company or the Borrowers or their
Affiliates for any loss, liability, damage or expense (collectively, “Loss”)
arising out of or in connection with the performance of services contemplated
by this Agreement, except to the extent that such Losses arise out of, relate
to, or result directly or indirectly from the gross negligence or willful
misconduct of one or more members of the Advisor Group.  The Advisors make no representations or
warranties, express or implied, in respect of the services provided by the
Advisor Group.  Except as the Advisors
may otherwise agree in writing after the date hereof: (a) each member of the
Advisor Group shall have the right to, and shall have no duty (contractual or
otherwise) not to, directly or indirectly (i) engage in the same or similar
business activities or lines of business as the Company or the Borrowers or
(ii) do business with any client or customer of the Company or the Borrowers;
(b) no member of the Advisor Group shall be liable to the Company or the
Borrowers for breach of any duty (contractual or otherwise) by reason of any
such activities or of such member’s participation therein; and (c) in the event
that any member of the Advisor Group acquires knowledge of a potential transaction
or matter that may be a corporate opportunity for any of the Company or the
Borrowers, on the one hand, and an Advisor, on the other hand, or any other
Person, no member of the Advisor Group shall have any duty (contractual or
otherwise) to communicate or present such corporate opportunity to the Company
or the Borrowers, and, notwithstanding any provision of this Agreement to the
contrary, no member of the Advisor Group shall be liable to the Company or the
Borrowers for breach of any duty (contractual or otherwise) by reason of the
fact that any member of the Advisor Group directly or indirectly pursues or
acquires such opportunity for itself, directs such opportunity to another
Person, or does not present such opportunity to the Company or the Borrowers.
Subject to the above, no member of the Advisor Group shall be liable to any of
the Company or the Borrowers for any indirect, special, incidental or
consequential damages, including lost profits or savings, whether 

 3
 

 

or
not such damages are foreseeable, or in respect of any liabilities relating to
any third party claims (whether based in contract, tort or otherwise) other
than for the Claims (as defined in Section 5 below) relating to the
services which may be provided by the Advisors hereunder.

5.             Indemnity.  The Company and the Borrowers shall jointly
and severally defend, indemnify and hold harmless each member of the Advisor
Group from and against any and all Losses arising from any claim by any Person
with respect, or in any way related, to this Agreement (including attorneys’
fees) (collectively, “Claims”) resulting from any act or omission of any
member of the Advisor Group, except to the extent that such Losses are finally
adjudicated to arise out of, relate to, or result directly or indirectly from
the gross negligence or willful misconduct of one or more members of the
Advisor Group.  Subject to the above, the
Company and the Borrowers shall jointly and severally defend at their own cost
and expense any and all suits or actions (just or unjust) which may be brought
against any of the Company and the Borrowers and any member of the Advisor
Group or in which any member of the Advisor Group may be impleaded with others
upon any Claims, or upon any matter, directly or indirectly, related to or arising
out of this Agreement or the performance hereof by the Advisor Group.

6.             Severability.  Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
invalid, illegal, or unenforceable in any respect under applicable law or rule
in any jurisdiction, such invalidity, illegality, or unenforceability shall not
effect the validity, legality, or enforceability of any other provision of this
Agreement in such jurisdiction or affect the validity, legality, or
enforceability of any provision in any other jurisdiction.  Instead, this Agreement shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal, or
unenforceable provision had never been contained herein.

7.             Notices.  All notices, demands or other communications
to be given or delivered under or by reason of the provisions of this Agreement
shall be in writing and shall be deemed to have been given (a) when delivered
personally to the recipient, (b) when telecopied to the recipient (with hard
copy sent to the recipient by internationally reputable overnight courier
service (charges prepaid) that same day) if telecopied before 5:00 p.m., local
time in the jurisdiction of recipient on a Business Day, and otherwise on the
next Business Day, or (c) two (2) Business Days after being sent to the
recipient by internationally reputable overnight courier service (charges
prepaid).  Such notices, demands and
other communications shall be sent to the parties hereto at the addresses set
forth below.

 4
 

 

To the Company:

Blitz F04-506 GmbH

c/o Baker & McKenzie LLP

Bethmanstraße 50-54

60311 Frankfurt am Main

Germany

Attention:   Simone Blank

To Sirona BV and Sirona KG:

Sirona Dental Systems Beteiligungs und Verwaltungs GmbH

Fabrikstraße 31

64625 Bensheim

Germany

Attention:   Simone Blank

To Sirona:

Sirona Dental Systems GmbH

Fabrikstraße 31

64625 Bensheim

Germany

Attention:   Simone Blank

To MDP:
MDP IV OFFSHORE GP, L.P.

Walkers SPV Limited

P.O. Box 908GT

Walker House, Mary Street

George Town, Grand Cayman

Cayman Islands

Attention:   Nicholas W.
Alexos

To Harry M. Jansen Kraemer, Jr.:

936 Seneca Road

Wilmette, IL 60015

USA

Notices to MDP or Harry M. Jansen Kraemer, Jr. with a
copy (which shall not constitute notice hereunder) to:

Kirkland & Ellis LLP

200 East Randolph Drive

Chicago

Illinois 60601-6636

United States of America

Telephone:     +1 312 861 2000

Facsimile:      +1 312 861 2200

Attention:       Sanford E. Perl

 5
 

 

8.             Certain
Definitions.  For purposes of this
Agreement:

(a)           “Acquisition”
has the meaning set forth in the preamble;

(b)           “Advisory Fee”
means has the meaning set forth in Section 2(b);

(c)           “Advisor” and “Advisors”
have the meanings set forth in the preamble;

(d)           “Advisor Group”
has the meaning set forth in Section 4;

(e)           “Affiliate” of
any particular Person means any other Person controlling, controlled by or
under common control with such particular Person, where “control” means the
possession, directly or indirectly, of the power to direct the management and
policies of a Person whether through the ownership of voting securities,
contract, or otherwise;

(f)            “Agreement” has
the meaning set forth in the preamble;

(g)           “Acquisition”
has the meaning set forth in the preamble;

(h)           “Borrower” has
the meaning set forth in the preamble;

(i)            “Business Day”
means any day from Monday to Friday (inclusive) other than public bank holidays
during normal working hours in New York, New York, United States of America,
London, England and Frankfurt, Germany;

(j)            “Claims” has
the meaning set forth in Section 5;

(k)           “Company” has
the meaning set forth in the preamble;

(l)            “Finance Agreements”
has the meaning set forth in the preamble;

(m)          “Finance Expenses”
has the meaning set forth in Section 2(a);

(n)           “Finance Fee”
has the meaning set out in Section 2(a);

(o)           “Financial Services”
has the meaning set forth in the preamble;

(p)           “LCIA” has the
meaning set forth in Section 16;

(q)           “Loss” has the
meaning set forth in Section 4;

(r)            “Person” means
an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated
organization and a governmental entity or any department, agency or political
subdivision thereof.

(s)           “Rules” has the
meaning set forth in Section 16;

(t)            “Sirona” has
the meaning set forth in the preamble;

(u)           “Sirona BV” has
the meaning set forth in the preamble;

 6
 

 

(v)           “Sirona KG” has
the meaning set forth in the preamble;

(w)          “Transaction Advisory
Expenses” has the meaning set forth in Section 2(b);

(x)            “Transaction
Advisory Services” has the meaning set forth in the preamble;

(y)           “Transaction
Expenses” has the meaning set forth in Section 2(c);

(z)            “Transaction
Services Fees” has the meaning set forth in Section 2(c);

(aa)         “Transaction Services”
has the meaning set forth in Section 2(c); and

(bb)         “VAT” means any
value added, sales, turnover, consumption or similar tax of any jurisdiction.

9.             Assignment.  No party may assign any obligations hereunder
to any other entity without the prior written consent of the other parties
(which consent shall not be unreasonably withheld); provided that any
Advisor may, without the consent of the Company or the Borrowers, assign any of
its rights and obligations under this Agreement to any of its Affiliates or to
any of its affiliated investment funds, whereupon, in each case, the assignor
nevertheless shall remain liable for the performance of its obligations
hereunder.

10.           Amendment and Waiver.  Except as otherwise provided herein, no
modification, amendment, or waiver of any provision of this Agreement shall be
effective against any party hereto unless such modification, amendment, or
waiver has been approved in writing by such party.  No course of dealing or the failure of any
party to enforce any of the provisions of this Agreement shall in any way
operate as a waiver of such provisions and shall not affect the right of such
party thereafter to enforce each and every provision of this Agreement in accordance
with its terms.

11.           Successors.  This Agreement and all the obligations and
benefits hereunder shall bind and inure to the benefit of and be enforceable by
the parties hereto and the respective successors and assigns of each of them.

12.           Counterparts.  This Agreement may be executed in multiple
counterparts, each of which shall be an original and all of which taken
together shall constitute one and the same agreement.

13.           Remedies.  Any person having rights under any provision
of this Agreement shall be entitled to enforce their rights under this
Agreement specifically, to recover damages by reason of any breach of any
provision of this Agreement and to exercise all other rights existing in their
favor.

14.           Entire Agreement.  Except as otherwise expressly set forth
herein, this Agreement embodies the complete agreement and understanding among
the parties hereto (which had previously been the subject of an oral agreement)
with respect to the subject 

 7
 

 

matter
hereof and therefore supersedes and preempts any prior understandings,
agreements or representations by or among the parties, written or oral, which
may have related to the subject matter hereof in any way.

15.           Governing Law.  All issues concerning this Agreement shall be
governed by and construed in accordance with the laws of England and Wales,
without giving effect to any choice of law or conflict of law provision or rule
(whether of England and Wales or any other jurisdiction) that would cause the
application of the law of any jurisdiction other than England and Wales.

16.           Dispute
Resolution.  Any controversy or claim
arising out of or relating to this Agreement, including any question regarding
its existence, validity or termination, shall be referred to and finally
resolved by arbitration in accordance with the Rules (the “Rules”) of
the LCIA International Arbitration (“LCIA”), which Rules are deemed to
be incorporated by reference into this clause, except as expressly modified by
this Section 16.

(a)                                  There
shall be one (1) arbitrator.  The selection
of the arbitrator shall be by agreement between the parties.  If, however, the parties are unable to agree
on the selection of the arbitrator within thirty (30) days after the
commencement of the arbitration, then the selection of the arbitrator shall be
made by the LCIA.

(b)                                 The
place of the arbitration shall be London, England.

(c)                                  The
language of the arbitration shall be English.

(d)                                 The
arbitrator shall have the authority to award all forms of relief determined to
be just and equitable; provided that the arbitrator shall have no
authority to award punitive or exemplary damages, or any other monetary damages
not measured by the prevailing party’s actual damages.

(e)                                  Any
arbitral award rendered pursuant to this provision shall be final and binding on
the parties and may be enforced in any court of competent jurisdiction.

Before an arbitration
pursuant to this provision has been convened, any party may seek from any court
of competent jurisdiction interim or provisional relief.  Such interim or provisional relief may
subsequently be vacated, continued or modified by the arbitrator on the
application of any party.

17.           Business Days.  If any time period for giving notice or
taking action hereunder expires on a day other than a Business Day, the time
period shall automatically be extended to the Business Day immediately
following such day.

18.           Descriptive Headings.  The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a part of this
Agreement.

19.           No Strict
Construction.  The language used in
this Agreement shall be deemed to be the language chosen by the parties hereto
to express their mutual intent, and no rule of strict construction shall be
applied against any party.

*     *    
*     *     *

 8

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the date first written above.

	
  

  	
  BLITZ F04-506 GMBH

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
  Name: Simone Blank

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ THEO HAAR

  	
   

  
	
   

  	
   

  	
  Name: Theo Haar

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SIRONA DENTAL SERVICES GMBH & CO KG

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
  Name: Simone Blank

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ THEO HAAR

  	
   

  
	
   

  	
   

  	
  Name: Theo Haar

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SIRONA DENTAL SYSTEMS GMBH

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
  Name: Simone Blank

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ THEO HAAR

  	
   

  
	
   

  	
   

  	
  Name: Theo Haar

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  MDP IV OFFSHORE GP, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  MDP Offshore Investors Limited

  	
   

  
	
   

  	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ TIMOTHY P. SULLIVAN

  	
   

  
	
   

  	
   

  	
  Its

  	
  Managing Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Harry M. Jansen Kraemer
  Jr.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ HARRY M. JANSEN KRAEMER JR.

  	
   

  

 

 

Annex
I

	
   

  	
   

  	
  MDP IV Offshore GP,

  LP

  	
   

  	
  Harry M. Jansen 

  Kraemer, Jr.

  	
   

  	
  Total

  	
   

  
	
  Finance Fee

  	
   

  	
  5,500,000

  	
   

  	
  nil

  	
   

  	
  5,500,000

  	
   

  
	
  Advisory Fee

  	
   

  	
  4,088,816

  	
   

  	
  411,184

  	
   

  	
  4,500,000

  	
   

  

 

All figures are in Euros.Exhibit
10.16

	
  

  	
   

  	
  LIMITED
  LIABILITY PARTNERSHIP

  

 

CONFORMED COPY

(incorporating amendments made on 5 December 2006)

 

 

22 NOVEMBER 2006

 

 

For

SIRONA DENTAL
SYSTEMS, INC.

arranged by

J.P. MORGAN PLC

and

UBS LIMITED

with

JPMORGAN CHASE
BANK, N.A.

and

UBS LIMITED

acting as Original
Lenders

and

J.P. MORGAN PLC

and

UBS LIMITED

acting as
Bookrunner

and

J.P. MORGAN EUROPE
LIMITED

acting as Facility Agent

 

 

EUR 275,000,000 AND USD
300,000,000

SENIOR FACILITIES
AGREEMENT

 

 

 

 

CONTENTS

	
  Clause

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  1.

  	
  Definitions And Interpretation

  	
  2

  
	
  2.

  	
  The Facilities

  	
  26

  
	
  3.

  	
  Purpose

  	
  30

  
	
  4.

  	
  Conditions Of Utilisation

  	
  30

  
	
  5.

  	
  Utilisation Of Loans

  	
  33

  
	
  6.

  	
  Utilisation By Way Of Bank Guarantees

  	
  34

  
	
  7.

  	
  Bank Guarantees

  	
  36

  
	
  8.

  	
  Optional Currencies

  	
  38

  
	
  9.

  	
  Ancillary Facilities

  	
  39

  
	
  10.

  	
  Repayment

  	
  43

  
	
  11.

  	
  Prepayment And Cancellation

  	
  44

  
	
  12.

  	
  Interest

  	
  52

  
	
  13.

  	
  Interest Periods And Terms

  	
  54

  
	
  14.

  	
  Changes To The Calculation Of Interest

  	
  55

  
	
  15.

  	
  Fees

  	
  57

  
	
  16.

  	
  Tax Gross Up And Indemnities

  	
  58

  
	
  17.

  	
  Increased Costs

  	
  65

  
	
  18.

  	
  Other Indemnities

  	
  66

  
	
  19.

  	
  Mitigation By The Lenders

  	
  67

  
	
  20.

  	
  Costs And Expenses

  	
  67

  
	
  21.

  	
  Guarantee And Indemnity

  	
  69

  
	
  22.

  	
  Representations

  	
  76

  
	
  23.

  	
  Information Undertakings

  	
  81

  
	
  24.

  	
  Financial Covenants

  	
  86

  
	
  25.

  	
  General Undertakings

  	
  90

  
	
  26.

  	
  Events Of Default

  	
  104

  
	
  27.

  	
  Changes To The Lenders

  	
  111

  
	
  28.

  	
  Changes To The Obligors

  	
  115

  
	
  29.

  	
  Role Of The Facility Agent, The Mandated Lead
  Arrangers, The Issuing Bank And Others

  	
  118

  
	
  30.

  	
  Conduct Of Business By The Finance Parties

  	
  123

  
	
  31.

  	
  Sharing Among The Finance Parties

  	
  124

  

 

 

 

 

	
  32.

  	
  Payment Mechanics

  	
  127

  
	
  33.

  	
  Set Off

  	
  129

  
	
  34.

  	
  Notices

  	
  130

  
	
  35.

  	
  Calculations And Certificates

  	
  132

  
	
  36.

  	
  Partial Invalidity

  	
  133

  
	
  37.

  	
  Remedies And Waivers

  	
  133

  
	
  38.

  	
  Amendments And Waivers

  	
  133

  
	
  39.

  	
  Counterparts

  	
  136

  
	
  40.

  	
  Usa Patriot Act

  	
  136

  
	
  41.

  	
  Governing Law

  	
  137

  
	
  42.

  	
  Enforcement

  	
  137

  
	
  43.

  	
  Waiver Of Jury Trial

  	
  137

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 1 THE ORIGINAL LENDER

  	
  139

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 2 CONDITIONS PRECEDENT

  	
  140

  
	
   

  	
  Part I

  	
  Conditions Precedent To Delivery Of A Utilisation
  Request

  	
  140

  
	
   

  	
  Part IA

  	
  Conditions Precedent To Drawdown

  	
  141

  
	
   

  	
  Part II

  	
  Conditions Precedent Required To Be Delivered By An
  Additional Obligor

  	
  143

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 3 REQUESTS

  	
  146

  
	
   

  	
  Part IA Utilisation Request Loans

  	
  146

  
	
   

  	
  Part IB Utilisation Request Bank Guarantees

  	
  147

  
	
   

  	
  Part II Selection Notice Applicable To A Term Loan

  	
  148

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 4 MANDATORY COST FORMULAE

  	
  149

  
	
   

  	
   

  
	
  SCHEDULE 5 FORM OF TRANSFER CERTIFICATE

  	
  152

  
	
   

  	
   

  
	
  SCHEDULE 6 FORM OF ACCESSION LETTER

  	
  154

  
	
   

  	
   

  
	
  SCHEDULE 7 FORM OF RESIGNATION LETTER

  	
  155

  
	
   

  	
   

  
	
  SCHEDULE 8 FORM OF COMPLIANCE CERTIFICATE

  	
  156

  
	
   

  	
   

  
	
  SCHEDULE 9 TIMETABLES

  	
  158

  
	
   

  	
  Part I Loans

  	
  158

  
	
   

  	
  Part II Bank Guarantees

  	
  160

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 10 FORM OF LETTER OF CREDIT

  	
  161

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 11 GUARANTEE PRINCIPLES

  	
  164

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 12 CERTAIN FUNDS DEFAULTS

  	
  170

  

 

 

 

	
  

  	
  SCHEDULE 13 OVERVIEW LOANS AND SECURITIES
  SUBSIDIARIES

  	
  171

  
	
   

  	
   

  	
   

  
	
   

  	
  SCHEDULE 14 FORM OF CERTIFICATE

  	
  173

  

 

 

THIS AGREEMENT is dated 22 November 2006 and made

BETWEEN:

(1)                            SIRONA DENTAL SYSTEMS, INC.,
an incorporated company with
business address 30-00 47th Avenue, Long Island City, New York, NY 11101
incorporated in Delaware with tax payer ID 11-3374812  as original guarantor (the “Company”);

(2)                            SCHICK TECHNOLOGIES, INC., an incorporated company with business address
30-00 47th Avenue, Long Island City, New York, NY 11101 incorporated in New
York with tax payer ID 11-3106069 as original borrower and original guarantor (“Schick Technologies, Inc.”);

(3)                            SIRONA DENTAL SYSTEMS GMBH, a limited liability company (Gesellschaft mit beschränkter Haftung)
incorporated in the Federal Republic of Germany, having its business address at
Fabrikstr. 31, 64625 Bensheim, Germany, which is registered in the commercial
register (Handelsregister) of the
local court (Amtsgericht) of
Darmstadt under HRB 24948 as original borrower and original guarantor (“Sirona Dental Systems GmbH”);

(4)                            SIRONA DENTAL SERVICES GMBH,
a limited liability company
(Gesellschaft mit beschränkter Haftung)
incorporated in the Federal Republic of Germany, having its business address at
Fabrikstr. 31, 64625 Bensheim, Germany, which is registered in the commercial
register (Handelsregister) of the
local court (Amtsgericht) of
Darmstadt  under HRB 25819 as original
borrower and original guarantor (“Sirona
Dental Services GmbH”);

(5)                            SIRONA DENTAL SYSTEMS LLC, a limited liability company with business
address 4835 Sirona Drive, Charolotte, NC 28273, PO Box 410100 incorporated in
the State of North of Carolina with tax payer ID 56-2078958 as original
guarantor (“Sirona Dental Systems LLC”);

(6)                            SIRONA HOLDING GMBH, a limited liability company (Gesellschaft mit beschränkter Haftung)
incorporated in the Federal Republic of Germany, having its business address at
Fabrikstr. 31, 64625 Bensheim, Germany, which is registered in the commercial
register (Handelsregister) of the
local court (Amtsgericht) of
Darmstadt under HRB 25817 as original guarantor (Sirona Holding GmbH”);

(7)                            SIRONA IMMOBILIEN GMBH, a limited liability company (Gesellschaft mit beschränkter Haftung)
incorporated in the Federal Republic of Germany, having its business address at
Fabrikstr. 31, 64625 Bensheim, Germany, which is registered in the commercial register
(Handelsregister) of the local
court (Amtsgericht) of Darmstadt
under HRB 24987 as original guarantor (“Sirona
Immobilien GmbH”);

(8)                            J.P. MORGAN PLC and UBS
LIMITED as mandated lead arrangers (the “Mandated Lead Arrangers”);

(9)                            JPMORGAN CHASE BANK, N.A. and UBS
LIMITED as original lenders (the “Original
Lenders”); and

 1
 

 

(10)                      J.P. MORGAN EUROPE LIMITED as Facility Agent of the Lenders (the “Facility Agent”).

IT IS AGREED as follows:

SECTION 1

INTERPRETATION

1.                                 DEFINITIONS AND INTERPRETATION

1.1                           Definitions

In
this Agreement:

“Accession Letter” means a document
substantially in the form set out in Schedule 6 (Form of Accession Letter).

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

“Acquisition” means the acquisition by Blitz
F04-506 GmbH of the shares of Sirona Dental Systems Beteiligungs-und
Verwaltungs GmbH pursuant to a sale and purchase agreement dated 4 May 2005.

“Acquisition Costs” means all non-periodic
fees, costs and expenses, stamp, registration and other Taxes incurred by the
Company or any other member of the Group in connection with the Acquisition up
to a maximum aggregate amount of EUR 42,000,000 and other such fees,
costs, expenses and Tax relating to acquisitions permitted under Clause 25.7 (Acquisitions).

“Additional Borrower” means a company which
becomes an Additional Borrower in accordance with Clause 28 (Changes to the Obligors).

“Additional Cost Rate” has the meaning given
to it in Schedule 4 (Mandatory Cost Formulae).

“Additional Guarantor” means a company which
becomes a Guarantor in accordance with Clause 28 (Changes to the Obligors).

“Additional Obligor” means an Additional
Borrower or an Additional Guarantor.

“Affiliate” means, in relation to any
person, a Subsidiary of that person or a Holding Company of that person or any
other Subsidiary of that Holding Company.

“Agent’s Spot Rate of Exchange” means the
Facility Agent’s spot rate of exchange for the purchase of the relevant
currency with the Base Currency in the London foreign exchange market on or
about 11:00 a.m. on a particular day.

“Ancillary Commitment” means, in relation to
an Ancillary Lender and an Ancillary Facility the commitment of that Lender
under the Ancillary Facility as notified to the Facility Agent pursuant to
Clause 9.3 (Approval process) to
the extent that amount is not cancelled or reduced under this Agreement or the
Ancillary Documents relating to that Ancillary Facility.

 2
 

 

“Ancillary Document” means each document
relating to or evidencing the terms of an Ancillary Facility.

“Ancillary Facility” means any ancillary
facility made available upon request as described in Clause 9 (Ancillary Facilities).

“Ancillary Lender” means each Lender (or
Affiliate of a Lender) which makes available an Ancillary Facility in
accordance with Clause 9 (Ancillary
Facilities).

“Ancillary Outstandings” means, at any time,
in relation to an Ancillary Facility the aggregate of the following amounts
outstanding under that Ancillary Facility then in force:

(a)                                      the principal amount under each overdraft
facility and on demand short term loan facility calculated on a net basis;

(b)                                     the face amount of each guarantee, bond and
letter of credit under each guarantee, bonding or letter of credit facility;
and

(c)                                      the amount fairly representing the aggregate
exposure (excluding interest and similar charges) of that Ancillary Lender
under each other type of accommodation provided under that Ancillary Facility
as determined by such Ancillary Lender in accordance with the relevant Ancillary
Document or market practice.

“Anti-Terrorism Law” means each of:

(a)                                      Executive Order No. 13224 of September 23,
2001 - Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten To Commit, or Support Terrorism (the Executive Order);

(b)                                     the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001, Public Law 107-56 (commonly known as the USA Patriot Act);

(c)                                      the Money Laundering Control Act of 1986,
Public Law 99-570;

(d)                                     the International Emergency Economic Powers
Act, 50 U.S.C. §§ 1701 et seq, the Trading with the Enemy Act, 50 U.S.C. App.
§§ 1 et seq, any Executive Order or regulation promulgated thereunder and
administered by the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the
Treasury; and

(e)                                      any law or regulation relating to economic
sanctions, terrorism or money laundering enacted in the United States of
America subsequent to the date of this Agreement.

“Authorisation” means an authorisation,
consent, approval, resolution, licence, exemption, filing, notarisation or
registration.

 3
 

 

“Available Ancillary Commitment” means in
relation to an Ancillary Facility, an Ancillary Lender’s Ancillary Commitment
less the Ancillary Outstandings in relation to that Ancillary Facility.

“Availability Period” means:

(a)                                      in relation to each Term Facility, the period
from and including the date of this Agreement to and including 45 days after
the date of this Agreement;  and

(b)                                     in relation to the Revolving Facility, the
period from and including the date of this Agreement to and including the day
which is one month prior to the Termination Date for the Revolving Facility.

“Available Commitment” means, in relation to
a Facility, a Lender’s Commitment under that Facility minus (subject as set out
below):

(a)                                      the Base Currency Amount of its participation
in any outstanding Utilisations under that Facility and, in the case of the
Revolving Facility only, the Base Currency Amount of the aggregate of its
Ancillary Commitments; and

(b)                                     in relation to any proposed Utilisation, the
Base Currency Amount of its participation in any other Utilisations that are
due to be made under that Facility on or before the proposed Utilisation Date
and, in the case of the Revolving Facility only, the Base Currency Amount of
its Ancillary Commitment in relation to any new Ancillary Facility that is due
to be made available on or before the proposed Utilisation Date.

For
the purposes of calculating a Lender’s Available Commitment in relation to any
proposed Utilisation under the Revolving Facility only, the following amounts
shall not be deducted from a Lender’s Commitment under that Facility:

(i)                                         that Lender’s participation in any Revolving
Utilisations that are due to be repaid or prepaid on or before the proposed
Utilisation Date; and

(ii)                                      that Lender’s Ancillary Commitments to the
extent that they are due to be reduced or cancelled on or before the proposed
Utilisation Date.

“Available Facility” means, in relation to a
Facility, the aggregate for the time being of each Lender’s Available
Commitment in respect of that Facility.

“Bank Guarantee” means:

(a)                                      a letter of credit, substantially in the form
set out in Schedule 10 (Form of Letter of
Credit) or in any other form requested by the Company and agreed by
the Facility Agent (with the prior consent of the Majority Lenders) and the
Issuing Bank; or

(b)                                     any other guarantee, bond, indemnity, letter
of credit, documentary or other credit or any other instrument of suretyship or
payment, issued, undertaken or made by the Issuing Bank under the Revolving
Facility in a form requested by

 4
 

 

the Company and agreed by the Facility Agent (with the prior consent of
the Majority Lenders) and the Issuing Bank.

“Bank Guarantee Proportion” means in
relation to a Lender in respect of any Bank Guarantee, the proportion
(expressed as a percentage) borne by that Lender’s Available Commitment to the
Available Facility in relation to the Revolving Facility immediately prior to
the issue of that Bank Guarantee, adjusted to reflect any assignment or
transfer under this Agreement to or by that Lender or pursuant to Clause 31.6 (Commitment  Exchange following acceleration).

“Base Currency” means:

(a)                                      in the case of Facility A1 and the Revolving
Facility, USD; and

(b)                                     in the case of Facility A2, euro.

“Base Currency Amount” means:

(a)                                      in relation to a Utilisation, the amount
specified in the Utilisation Request delivered by a Borrower for that
Utilisation (or, if the amount requested is not denominated in the Base
Currency, that amount converted into the Base Currency at the Agent’s Spot Rate
of Exchange on the date which is three Business Days before the Utilisation
Date or, if later, on the date the Facility Agent receives the Utilisation
Request); and

(b)                                     in relation to an Ancillary Commitment, the
amount specified in the notice delivered to the Facility Agent by the Company
pursuant to sub-paragraph (a) (v) of Clause 9.3 (Approval Process) (or, if the amount specified is not
denominated in the Base Currency, that amount converted into the Base Currency
at the Agent’s Spot Rate of Exchange on the date which is three Business Days
before the Commencement Date for that Ancillary Facility or, if later, the date
the Facility Agent receives the notice of the Ancillary Commitment),

as
adjusted to reflect any repayment, prepayment, consolidation or division of a
Utilisation, or (as the case may be) cancellation or reduction of an Ancillary
Facility.

“Borrower” means an Original Borrower or an
Additional Borrower unless it has ceased to be a Borrower in accordance with
Clause 28 (Changes to the Obligors).

“Break Costs” means the amount (if any) by
which:

(a)                                      the interest (excluding, for the avoidance of
doubt, the Margin and Mandatory Cost) which a Lender should have received for
the period from the date of receipt of all or any part of its participation in
a Loan or Unpaid Sum to the last day of the current Interest Period in respect
of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received
been paid on the last day of that Interest Period;

 5
 

 

exceeds:

(b)                                     the amount which that Lender would be able to
obtain by placing an amount equal to the principal amount (including for the
avoidance of doubt any component in respect of interest and fees) or Unpaid Sum
received by it on deposit with a leading bank in the Relevant Interbank Market
for a period starting on the Business Day of receipt (in the case of
prepayments of which the Facility Agent has at least 2 Business Days notice),
and on the Business Day following receipt or recovery (in the case where less
than 2 Business Days notice is given) and ending on the last day of the current
Interest Period.

“Business Day” means a day (other than a
Saturday or Sunday) on which banks are open for general business in London,
Frankfurt am Main and New York, and:

(a)                                      (in relation to any date for payment or
purchase of a currency other than euro) the principal financial centre of the
country of that currency; or

(b)                                     (in relation to any date for payment or
purchase of euro) any TARGET Day.

“Business Plan” means the financial model
including profit and loss, balance sheet and cash flow projections from the
date of this Agreement for a period of three years, in agreed form relating to
the Group.

“Cash” means, at any time, cash at bank
denominated in Swiss Francs, sterling, dollars, euro, Japanese Yen, Canadian
dollar or any other currency which is the lawful currency of any other member
state of the OECD (or any other country in which a member of the Group
operates) and credited to an account in the name of a member of Group and to
which, in each case, such member of the Group is alone beneficially entitled
and for so long as:

(a)                                      that cash is repayable on demand or within 30
days of demand;

(b)                                     repayment of that cash is not contingent on
the prior discharge of any other indebtedness of any member of the Group or of
any other person whatsoever or on the satisfaction of any other condition;

(c)                                      there is no Security over that cash except as
permitted hereunder; and

(d)                                     such cash is freely and immediately available
or within 30 days of demand to be applied in repayment or prepayment of the
Facilities, whether as a result of dividend payments, loans or other payments
made to the relevant member of the Group.

“Cash Equivalent Investments” means:

(a)                                      debt securities denominated in Swiss Francs,
sterling, dollars, euro, Japanese Yen, Canadian dollar or any other currency
which is the lawful currency of any other member state of the OECD issued by or
unconditionally guaranteed by Switzerland, the United Kingdom, the United
States of America, a Participating Member State, Japan or any other member
state of the OECD which are not

 6
 

 

convertible into any other form of security and having not more than
one year to final maturity;

(b)                                     debt securities denominated in Swiss Francs,
sterling, dollars, euro, Japanese Yen, Canadian dollar or any other currency
which is the lawful currency of any member state of the OECD which are not
convertible into any other form of security and having not more than one year
to final maturity, at all times rated P-1 by Moody’s or A-1 by Standard &
Poors’ and which are not issued or guaranteed by any member of the Group;

(c)                                      certificates of deposit denominated in Swiss
Francs, sterling, dollars, euro, Japanese Yen, Canadian dollar or any other
currency which is the lawful currency of any member state of the OECD issued
by, and acceptances by, banking institutions authorised under applicable
legislation of Switzerland, the United Kingdom, the United States of America, a
Participating Member State, Japan or any other member state of the OECD rated
P-1 by Moody’s or A-1 by Standard & Poors’;

(d)                                     any investment accessible within 30 days in
money market funds which have a credit rating of either A-1 or higher by
Standard & Poors’ or Fitch Rating Ltd or P-1 or higher by Moody’s and which
invest substantially all their assets in securities of the types described in
paragraphs (a) to (c) above; or

(e)                                      other securities (if any) approved in writing
by the Facility Agent,

in
each case, to which any member of the Group is beneficially entitled at that
time and which is not issued or guaranteed by any member of the Group or
subject to any Security (other than as permitted hereunder).

“Certain Funds Default” means the occurrence
of (i) a Change of Control (as defined in Clause 11.7 (Exit) or (ii) any event or circumstance
mentioned under any of the paragraphs listed in Schedule 12 (Certain Funds Defaults).

“Certain Funds Period” means the period from
the date of this Agreement until and including the earlier of (i) the Closing
Date and (ii) the last day of the Availability Period for Facility A1 and
Facility A2 provided that such
period shall be suspended at all times while the relevant parties are
negotiating as envisaged by paragraph (b) in Schedule 12 (Certain Funds Defaults).

“Closing Date” means the date on which first
utilisation of any of the Facilities occurs.

“Code” means, at any date, the U.S. Internal
Revenue Code of 1986 and the regulations promulgated and the judicial and
administrative decisions rendered under it, all as the same may be in effect at
such date.

“Commencement Date” means, in relation to an
Ancillary Facility, the date on which that Ancillary Facility is first made
available, which date shall be a Business Day within the Availability Period
for the Revolving Facility.

 7
 

 

“Commitment” means a Facility A1 Commitment,
a Facility A2 Commitment or a Revolving Commitment.

“Commitment Fee” means any fees payable by
the Company pursuant to Clause 15.1 (Commitment
Fee).

“Compliance Certificate” means a certificate
substantially in the form set out in Schedule 8 (Form of Compliance Certificate).

“Consolidated Adjusted EBITDA” has the
meaning given to such term in Clause 24.1 (Financial
definitions).

“Consolidated Total Net Debt” has the meaning
given to such term in Clause 24.1 (Financial
definitions).

“Default” means an Event of Default or any
event or circumstance which would (with the expiry of a grace period or the
giving of notice under the Finance Documents or any combination of any of the
foregoing) be an Event of Default.

“Environmental Claim” means any claim,
proceeding or investigation by any person in respect of any Environmental Law.

“Environmental Law” means any applicable law
or regulation which relates to:

(a)                                      the pollution or protection of the
environment;

(b)                                     harm to or the protection of human health; or

(c)                                      the health of animals or plants.

“Environmental Permits” means any permit,
licence, consent, approval and other authorisation and the filing of any
notification, report or assessment required under any Environmental Law for the
operation of the business of any member of the Group conducted on or from the
properties owned or used by any member of the Group.

“EURIBOR” means, in relation to any Loan in
euro:

(a)                                      the applicable Screen Rate; or

(b)                                     (if no Screen Rate is available for the
Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards
to four decimal places) as supplied to the Facility Agent at its request quoted
by the Reference Banks to leading banks in the European interbank market,

as
of the Specified Time on the Quotation Day for the offering of deposits in euro
for a period comparable to the Interest Period of the relevant Loan.

“ERISA” means, at any date, the United
States Employee Retirement Income Security Act of 1974 and the regulations
promulgated and rulings issued thereunder, all as the same may be in effect at
such date.

 8
 

 

“ERISA Affiliate” means any person that for
purposes of Title I and Title IV of ERISA and Section 412 of the Code would be
deemed at any relevant time to be a single employer with an Obligor, pursuant
to Section 414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA.

“Event of Default” means any event or
circumstance specified as such in Clause 26 (Events
of Default).

“Existing Mezzanine Facility Agreement”
means the mezzanine facility agreement dated 30 June 2005 (as amended) between,
inter alia, Blitz F04-506 GmbH as
original borrower and J.P. Morgan Europe Limited as facility agent.

“Existing Senior Facilities Agreement” means
the senior facility agreement dated 30 June 2005 (as amended) between, inter alia, Blitz F04-506 GmbH as original
borrower and J.P. Morgan Europe Limited as facility agent.

“Expiry Date” means for a Bank Guarantee,
the last day of its Term.

“Facility” means Facility A1, Facility A2 or
the Revolving Facility.

“Facility A1” means the term loan facility
made available under this Agreement as described in sub-paragraph (a) (i) of
Clause 2.1 (The Facilities).

“Facility A1 Borrower” means Schick Technologies,
Inc.

“Facility A1 Commitment” means:

(a)                                      in relation to an Original Lender, the amount
in the Base Currency set opposite its name under the heading “Facility A1
Commitment” in Schedule 1 (The Original
Lenders) and the amount of any other Facility A1 Commitment
transferred to it under this Agreement; and

(b)                                     in relation to any other Lender, the amount
in the Base Currency of any Facility A1 Commitment transferred to it under this
Agreement,

to
the extent not cancelled, reduced or transferred by it under this Agreement.

“Facility A1 Loan” means a loan made or to
be made under Facility A1 or the principal amount outstanding for the time
being of that loan.

“Facility A1 Repayment Date” means each of
the dates specified in Clause 10.1 (Repayment
of Facility Term Loans) as a Facility A1 Repayment Date.

“Facility A1 Repayment Instalment” means
each instalment for repayment of the Facility A1 Loans referred to in Clause
10.1 (Repayment of Facility Term Loans).

“Facility A2” means the term loan facility
made available under this Agreement as described in sub-paragraph (a) (ii) of
Clause 2.1 (The Facilities).

“Facility A2 Borrower” means Sirona Dental
Services GmbH.

 9
 

 

“Facility A2 Commitment” means:

(a)                                      in relation to an Original Lender, the amount
in the Base Currency set opposite its name under the heading “Facility A2 Commitment” in Schedule 1 (The Original Lenders) and the amount of
any other Facility A2 Commitment transferred to it under this Agreement; and

(b)                                     in relation to any other Lender, the amount in
the Base Currency of any Facility A2 Commitment transferred to it under this
Agreement,

to
the extent not cancelled, reduced or transferred by it under this Agreement,

“Facility A2 Loan” means a loan made or to
be made under Facility A2 or the principal amount outstanding for the time
being of that loan.

“Facility A2 Repayment Date” means each of
the dates specified as a Facility A2 Repayment Date in Clause 10.1 (Repayment of Facility Term Loans).

“Facility A2 Repayment Instalment” means
each instalment for repayment of the Facility A2 Loans referred to in Clause
10.1 (Repayment of Facility Term Loans).

“Facility Office” means the office or
offices notified by a Lender or the Issuing Bank to the Facility Agent in
writing on or before the date it becomes a Lender or the Issuing Bank (or,
following that date, by not less than five Business Days’ written notice) as
the office or offices through which it will perform its obligations under this
Agreement.

“Fee Letter” means:

(a)                                      any letter or letters between the Mandated
Lead Arrangers and the Company (or the Facility Agent and the Company) setting
out any of the fees referred to in Clause 15 (Fees);
and

(b)                                     any other agreement setting out fees referred
to in Clause 7.2 (Fee payable in respect of
Bank Guarantees) or Clause 9.7 (Interest,
Commitment Commission and Fees on Ancillary Facilities).

“Finance Document” means this Agreement, any
Fee Letter, any Accession Letter, any Resignation Letter, any Compliance
Certificate, any Utilisation Request, any Selection Notice, the Subordination
Agreement, any Ancillary Document, the Pooling Agreement and any other document
designated as a “Finance Document”
by the Facility Agent and the Company.

“Finance Party” means the Facility Agent,
the Mandated Lead Arrangers, a Lender, the Issuing Bank or any Ancillary
Lender.

“Financial Indebtedness” means any
indebtedness for or in respect of:

(a)                                      any monies borrowed or raised;

(b)                                     any amount raised by acceptance under any
acceptance credit facility or dematerialised equivalent or by a bill
discounting or factoring credit facility;

 10
 

 

(c)                                      any amount raised pursuant to any note
purchase facility or the issue of bonds, notes (other than credit notes issued
in the ordinary course of trade), debentures, loan stock or any similar
instrument;

(d)                                     the amount of any liability in respect of any
lease or hire purchase contract or other agreement which would, in accordance
with the Accounting Principles, be treated as a finance or capital lease;

(e)                                      receivables sold or discounted (other than
any receivables to the extent they are sold on a non-recourse basis);

(f)                                        any derivative transaction entered into in
connection with protection against or benefit from fluctuation in any rate or
price (and, when calculating the value of any derivative transaction, only the
marked to market value shall be taken into account);

(g)                                     any counter indemnity obligation in respect
of a guarantee, indemnity, bond, standby or documentary letter of credit or any
other instrument issued by a bank or financial institution;

(h)                                     any amount raised by the issue of shares
which are redeemable on or before the Termination Date;

(i)                                         any amount of any liability under an advance
or deferred purchase agreement if (i) one of the primary reasons behind the
entry into the agreement is to raise finance or (ii) the agreement is in
respect of the supply of assets or services and payment is due more than 180
days from the date on which the goods were delivered or services were performed
other than any liability arising under the U.S. Exclusivity Agreement;

(j)                                         any amount raised under any other transaction
(including any forward sale or purchase agreement) required to be accounted for
as a borrowing (but excluding for the avoidance of doubt any employee profit
sharing scheme) to the extent that item is treated as debt in the Group’s
balance sheet; and

(k)                                      (without double counting) the amount of any
liability in respect of any guarantee or indemnity or similar assurance against
financial loss for any of the items referred to in the preceding paragraphs of
this definition and any agreement to maintain the solvency of any person
whether by investing in, lending to or purchasing the assets of such person.

“Financial Quarter” has the meaning given to
that term in Clause 24.1 (Financial
definitions).

“Funds Flow Statement” means the funds flow
statement delivered by the Company to the Facility Agent pursuant to paragraph
2(c) of Part 1 of Schedule 2 (Conditions
Precedent to Delivery of a Utilisation Request) in form and
substance satisfactory to the Facility Agent.

“General Investments Threshold” means, at
any time EUR 100,000,000.

 11
 

 

“German Borrower” has the meaning given to
that term in paragraph (h) of Clause 21.9 (Limitation
on Payment Obligations by German Guarantors and limitation regarding LTIBRs).

“Group” means the Company, and each of its
respective Subsidiaries for the time being.

“Gross Assets” means (by reference to the
Accounting Principles), restricted short term investments, accounts receivable,
net inventories, prepaid expenses and other current assets, property, plant and
equipment and intangible assets (but excluding goodwill and all other assets or
step up amounts that have been capitalised as a result of a purchase price
allocation)

“Guarantee Principles” means the principles
set out in Schedule 11 (Guarantee Principles).

“Guarantor” means each Original Guarantor
and each Additional Guarantor unless it has ceased to be a Guarantor in
accordance with Clause 28 (Changes to the
Obligors).

“Holding Company” means, in relation to a
company or corporation, any other company or corporation in respect of which it
is a Subsidiary.

“Incremental Facility” means the increased
amount of the existing Facilities or a term loan facility or a revolving loan
facility made available under this Agreement as described in sub-paragraph
(a)(iv) of Clause 2.1 (The Facilities).

“Incremental Facility Commitment” has the
meaning given to it in Clause 2.2 (Incremental
Facility).

“Incremental Facility Loan” means a loan
made or to be made under the Incremental facility or the principal amount
outstanding for the time being of that loan.

“Information Memorandum” means the document
in the form approved by the Company concerning the Group which is to be
prepared in relation to this transaction, approved by the Company and distributed
by the Mandated Lead Arrangers prior to the Syndication Date in connection with
the syndication of the Facilities.

“Initial Investors” means (i) Madison
Dearborn Partners, (ii) funds managed and/or advised by Madison Dearborn
Partners and (iii) MDCP IV Global Investments LP, Beecken Petty O’Keefe Fund
II, L.P., Northwestern University, John W. Madigan, Harry M. Jansen Kraemer,
Jr., and K&E Investment Partners, LLC - 2004-B DIF and (iv) any of the
following funds whose investment is to be made on or shortly after the Closing
Date: Beecken Petty O’Keefe QP Fund II, L.P., Beecken Petty O’Keefe Executive
Fund II, L.P. and (v) certain members of management of the Company and/or
affiliates of EQT Partners AB and (vi) any other persons agreed to by the Lenders.

“Intellectual Property” means:

(a)                                      any patents, trade marks, service marks,
designs, business names, copyrights, design rights, moral rights, inventions,
confidential information, know-how and other intellectual property rights and
interests, whether registered or unregistered; and

 12
 

 

(b)                                     the benefit of all applications and rights to
use such assets of each member of the Group.

“Interest Period” means, in relation to a
Loan, each period determined in accordance with Clause 13 (Interest Periods and Terms) and, in
relation to an Unpaid Sum, each period determined in accordance with Clause
12.4 (Default Margin).

“Invested Funds” means the aggregate amount
of all monies invested, paid, allocated, guaranteed, indemnified, applied or
spent since the date hereof under sub-paragraph b(v) of Clause 25.7 (Acquisitions), paragraph (b) of Clause
25.8 (Joint ventures),
sub-paragraph (b)(vii) of Clause 25.14 (Loans
and credit) and/or sub-paragraph (b)(v) of Clause 25.15 (No Guarantees or indemnities) but
deducting any such amounts which are repaid, no longer outstanding and
investment returns on investments made pursuant to the foregoing paragraphs.

“Investors” means funds managed and advised
by Madison Dearborn Partners and other investors selected by Madison Dearborn Partners
as part of the equity (and quasi-equity) syndication of the equity and
quasi-equity funding for the Acquisition (subject to Madison Dearborn Partners
at all times owning a majority interest in, and being able to direct the
affairs and control the composition of the board of directors or equivalent
body of, such investors), and each of their or any subsequent successors or
assignees or transferees.

“Issuing Bank” means any Lender which has
notified the Facility Agent that it has agreed to the Company’s request to be
an Issuing Bank pursuant to the terms of this Agreement (and if more than one
Lender has so agreed such Lenders whether acting individually or together shall
be referred to as the “Issuing Bank”).

“Joint Venture” means any joint venture entity,
whether a company, unincorporated firm, undertaking, association, joint venture
or partnership or any other entity.

“Legal Opinions” means the legal opinions
delivered to the Facility Agent pursuant to Clause 4.1 (Initial Conditions Precedent) and paragraph
9 of Part II of Schedule 2 (Conditions
Precedent).

“Legal Reservations” means

(a)                                      the principle that equitable remedies may be
granted or refused at the discretion of a court and the limitation of
enforcement by laws relating to insolvency, reorganisation and other laws
generally affecting the rights of creditors;

(b)                                     the time barring of claims under the
Limitation Acts;

(c)                                      similar principles, rights and defences under
the laws of any Relevant Jurisdiction; and

(d)                                     any general principles which are set out in
the qualifications as to matters of law in the Legal Opinions.

 13
 

 

“Lender” means:

(a)                                      any Original Lender; and

(b)                                     any bank, financial institution, trust, fund
or other entity which has become a Party in accordance with Clause 27 (Changes to the Lenders),

which
in each case has not ceased to be a Party in accordance with the terms of this
Agreement.

“LIBOR” means, in relation to any Loan:

(a)                                      the applicable Screen Rate; or

(b)                                     (if no Screen Rate is available for the
currency or Interest Period of that Loan) the arithmetic mean of the rates
(rounded upwards to four decimal places) as supplied to the Facility Agent at
its request quoted by the Reference Banks to leading banks in the London
interbank market,

as
of the Specified Time on the Quotation Day for the offering of deposits in the
currency of that Loan and for a period comparable to the Interest Period for
that Loan.

“LTIBR” means any long term interest-bearing
receivables as set out in the decrees of the German Federal Ministry of Finance
(Bundesfinanzministerium) of 15
July 2004 (IV A2-S 2742a-20/04), paragraphs 20 and 37, and of 22 July 2005
(IV-B7-S2742a-31/05), or as set out in any future law, administrative decree,
guideline or other pronouncement which overrules the aforementioned decrees.

“Loan” means a Term Loan or a Revolving
Loan.

“LMA” means the Loan Market Association.

“Majority Lenders” means:

(a)                                      for the purposes of paragraph (a) of Clause
38.1 (Required consents) in the
context of a waiver in relation to a proposed Utilisation of the Revolving
Facility (other than a Utilisation on the Closing Date) of the condition in
Clause 4.2 (Further Conditions Precedent)
a Lender or Lenders whose Available Commitments and Available Ancillary
Commitments with respect to the Revolving Facility aggregate more than 662/3 per cent. of the Available Facility and
aggregate Available Ancillary Commitments with respect to the Revolving
Facility; and

(b)                                     in any other case, a Lender or Lenders whose
Commitments aggregate more than 662/3 per cent. of the Total Commitments (or, if the Total Commitments have
been reduced to zero, aggregated more than 662/3 per cent. of the Total Commitments immediately prior to that
reduction).

“Mandatory Cost” means the percentage rate
per annum calculated by the Facility Agent in accordance with Schedule 4 (Mandatory Cost Formulae).

 14
 

 

“Margin” means in relation to any Revolving
Loan or Term Loan, 0.75 per cent. per annum or such rate per annum as may be in
effect from time to time in accordance with Clause 12.3 (Margin Ratchet).

“Margin Stock” means “margin stock” or “margin security” within the meaning of
Regulations T, U and X.

“Material Adverse Effect” means any event or
series of events which is materially adverse to:

(a)                                      the business, assets or financial condition
of the Group taken as a whole;

(b)                                     the ability of any Obligor to perform its
payment obligations under the Finance Documents; or

(c)                                      the validity or enforceability of any
material term of the Finance Documents or the rights and remedies of any
Finance Party under the Finance Documents in a manner or to an extent which is
materially adverse to the interests of the Finance Parties under the Finance
Documents.

“Material Company” means, at any time:

(a)                                      an Obligor; or

(b)                                     a member of the Group which:

(i)                        has earnings before interest, tax,
depreciation and amortisation (calculated on the same basis as Consolidated
Adjusted EBITDA, as defined in Clause 24 (Financial
Covenants)) and discounting any intra-group items, shares in
subsidiaries and the earnings of subsidiaries) representing 5 per cent. or more
of Consolidated Adjusted EBITDA of the Group; or

(ii)                     has gross assets (excluding intra group
items) representing 5 per cent. or more of the consolidated Gross Assets of the
Group,

in
each case calculated on a consolidated basis.

Compliance
with the conditions set out in sub-paragraphs (b) (i) and (ii) above shall be
determined by reference to the most recent Compliance Certificate supplied by
the Company and the latest audited annual and unaudited semi-annual
consolidated financial statements of the Group.

A
report by the auditors of the Company that a Subsidiary is or is not a Material
Company shall, in the absence of manifest error, be conclusive and binding on
all Parties.

“Material Intellectual Property” means the
Intellectual Property which is material to the Group’s business.

“Maximum Incremental Facility Amount” means
USD 100,000,000 or, if the Non-Leveraged Criteria has been met,
USD 150,000,000.

 15
 

 

“Month” means a period starting on one day
in a calendar month and ending on the numerically corresponding day in the next
calendar month, except that:

(a)                                      (subject to paragraph (c) below) if the
numerically corresponding day is not a Business Day, that period shall end on
the next Business Day in that calendar month in which that period is to end if
there is one, or if there is not, on the immediately preceding Business Day;

(b)                                     if there is no numerically corresponding day
in the calendar month in which that period is to end, that period shall end on
the last Business Day in that calendar month; and

(c)                                      if an Interest Period begins on the last
Business Day of a calendar month, that Interest Period shall end on the last
Business Day in the calendar month in which that Interest Period is to end.

The
above rules will only apply to the last Month of any period.  “Monthly”
shall be construed accordingly.

“Moody’s” means Moody’s Investor Services,
Inc. and any successors to its rating business.

“Non-Leveraged Criteria” means (i) pro forma
Consolidated Total Net Debt to Consolidated Adjusted EBITDA is less than 2.5:1
as evidenced in the relevant Compliance Certificate delivered to the Facility
Agent pursuant to Clause 23.2 (Compliance
Certificate); and/or (ii) the long term rating of the Group’s senior
indebtedness is not less than “investment grade” (BBB- or Baa3 as rated by
Standard and Poors or Moody’s respectively).

“Obligor” means a Borrower or a Guarantor.

“Obligor’s Agent” means the Company.

“Original Borrower” means the Facility A1
Borrower, the Facility A2 Borrower and the Revolving Facility Borrowers.

“Optional Currency” means a currency (other
than the Base Currency) which complies with the conditions set out in Clause
4.4 (Conditions relating to Optional
Currencies).

“Original Financial Statements” means:

(a)                                      the un-audited consolidated financial
statements of the Group dated 30 June 2006; and

(b)                                     the audited consolidated financial statements
of the Group for its financial year ending 30 September 2005.

“Original Guarantor” means each of the
Company, Schick Technologies, Inc., Sirona Dental Systems GmbH, Sirona Dental
Services GmbH, Sirona Dental Systems LLC, Sirona Holding GmbH and Sirona
Immobilien GmbH.

 16
 

 

“Participating Member State” means any
member state of the European Communities that adopts or has adopted the euro as
its lawful currency in accordance with legislation of the European Community
relating to Economic and Monetary Union.

“Party” means a party to this Agreement.

“Patterson Note” means the junior
subordinated promissory note issued pursuant to paragraph IX(D) of the U.S.
Exclusivity Agreement subject to such subordinated intercreditor provisions as
may be acceptable to the Facility Agent (acting on the instruction of the
Majority Lenders).

“Permitted Bensheim Disposal” means the sale
of land located at Werner-von-Siemens Strasse 4, 64625 Bensheim, Germany  registered at the Land Registry of Bensheim
at page 10724, boundary 2975 Bensheim, Land Parcel 125/8 (the “Land”) and the completion of a long term
lease agreement with a third party relating to the leasing of the Land together
with a new building situated thereon and the demolition of the existing
building according to the sale and lease back agreement which has been
notarized by Mrs. Ingrid Walter-Meinig in the notarial deed 129/2005 dated July
19, 2005.

“Permitted Disposal” means any disposal of
assets or a business as a whole pursuant to a Permitted Reorganisation,
provided that the conditions related thereto are satisfied at the date of the
relevant disposal and such disposal is not adverse to the interest of the
Lenders.

“Permitted Reorganisation” means any
reorganisation as set out in the Structure Memorandum provided that in relation to the proposed
restructuring of the Group set out in pages 20 to 29 thereof, such
restructuring is not adverse to the interest of the Lenders, and any member of
the Group that would become a Guarantor (a) pursuant to the terms of Clause
25.23 (Guarantors) if the test
set out therein was carried out on the date of the restructuring rather than by
reference to the most recently delivered Compliance Certificate, (b) envisaged
to become a Guarantor under the Structure Memorandum; and (c) Newco 1 and Newco
2 (as referred to in the Structure Memorandum), shall accede to this Agreement
as an Additional Guarantor on the date of such restructuring.

“Pooling Agreement” means each of the profit
and loss transfer agreement between Sirona Holding GmbH and Sirona Dental
Services GmbH dated 24 August 2006, the profit and loss transfer agreement
between Sirona Dental Services GmbH and Sirona Dental Systems GmbH dated 24
February 2004 and the profit and loss transfer agreement between Sirona Dental
Systems GmbH and Sirona Immobilien GmbH dated 23 September 2002.

“Quotation Day” means, in relation to any
period for which an interest rate is to be determined:

(a)                                      (if the currency is euro) two TARGET Days
before the first day of that period provided such TARGET Day is also a Business
Day in London or, if not, the immediately preceding TARGET Day which is also a
Business Day in London; or

 17
 

 

(b)                                     (for any other currency) two Business Days
before the first day of that period,

unless
market practice differs in the Relevant Interbank Market for a currency, in
which case the Quotation Day for that currency will be determined by the
Facility Agent in accordance with market practice in the Relevant Interbank
Market (and if quotations would normally be given by leading banks in the
Relevant Interbank Market on more than one day, the Quotation Day will be the
last of those days).

“Reference Banks” means, the principal
office in London of JPMorgan Chase Bank, N.A. UBS Limited and no fewer than two
other prime banks in the London interbank market as will be appointed by the
Facility Agent in consultation with the Company.

“Refinancing Costs” has the meaning given to
it in Clause 24.1 (Financial definitions).

“Regulations T, U and X” means,
respectively, Regulations T, U and X of the Board of Governors of the Federal
Reserve System of the United States (or any successor) as now and from time to
time hereafter in effect.

“Related Fund”, in relation to a fund (the “first fund”), means a fund which is managed
or advised by the same investment manager or advisor as the first fund or, if
it is managed by a different investment manager or advisor, a fund whose
investment manager or advisor is an Affiliate of the investment manager or
advisor of the first fund.

“Relevant Interbank Market” means in
relation to euro, the European interbank market, and, in relation to any other
currency, the London interbank market.

“Relevant Jurisdiction” means, in relation
to an Obligor:

(a)                                      its jurisdiction of incorporation; and

(b)                                     any jurisdiction where it conducts its
business.

“Relevant Period” has the meaning given to
it in Clause 24.1 (Financial definitions).

“Repeating Representations” means each of
the representations set out in Clause 22.1 (Status),
Clause 22.3 (Non-conflict with other
obligations), Clause 22.4 (Power
and authority), Clause 22.6 (Governing
law and enforcement), 
paragraph (e) of Clause 22.10 (No
misleading information), Clause 22.16 (Good Title Assets), Clause 22.21 (Margin Stock) and Clause 22.24 (Anti-Terrorism Laws).

“Restricted Party” means any person listed:

(a)                                      in the Annex to the Executive Order;

(b)                                     on the “Specially Designated Nationals and
Blocked Persons” list maintained by the OFAC; or

(c)                                      in any successor list to either of the
foregoing.

“Resignation Letter” means a letter
substantially in the form set out in Schedule 7 (Form of Resignation Letter).

 18
 

 

“Revolving Commitment” means:

(a)                                      in relation to an Original Lender, the amount
in the Base Currency set opposite its name under the heading “Revolving Commitment” in Schedule 1 (The Original Lenders) and the amount of
any other Revolving Commitment transferred to it under this Agreement; and

(b)                                     in relation to any other Lender, the amount
in the Base Currency of any Revolving Commitment transferred to it under this
Agreement,

to
the extent not cancelled, reduced or transferred by it under this Agreement.

“Revolving Facility” means the revolving
credit facility made available under this Agreement as described in
sub-paragraph (a)(iii) of Clause 2.1 (The
Facilities).

“Revolving Facility Borrower” means Sirona
Dental Systems GmbH, Schick Technologies, Inc. and Sirona Dental Services GmbH
or an Additional Borrower unless it ceases to be a Borrower in accordance with
Clause 28 (Changes to the Obligors).

“Revolving Loan” means a loan made or to be
made under the Revolving Facility or the principal amount outstanding for the
time being of that loan.

“Revolving Utilisation” means a Revolving
Loan or a Bank Guarantee.

“Rollover Loan” means one or more Revolving
Loans:

(a)                                      made or to be made on the same day that:

(i)                        a maturing Revolving Loan is due to be
repaid; or

(ii)                     a demand by the Facility Agent pursuant to a
drawing in respect of a Bank Guarantee is due to be met;

(b)                                     the aggregate amount of which is equal to or
less than the maturing Revolving Loan or the relevant claim in respect of that
Bank Guarantee;

(c)                                      in the same currency as the maturing
Revolving Loan (unless it arose as a result of the operation of Clause 8.2 (Unavailability of a currency)) or the
relevant claim in respect of that Bank Guarantee; and

(d)                                     made or to be made to the same Borrower for
the purpose of:

(i)                        refinancing a maturing Revolving Loan; or

(ii)                     satisfying the relevant claim in respect of
that Bank Guarantee.

“Screen Rate” means:

(a)                                      in relation to LIBOR, the British Bankers’
Association Interest Settlement Rate for the relevant currency and period; and

(b)                                     in relation to EURIBOR, the percentage rate
per annum determined by the Banking Federation of the European Union for the
relevant period,

 19
 

 

displayed
on the appropriate page of the Telerate screen. If the agreed page is replaced
or service ceases to be available, the Facility Agent may specify another page
or service displaying the appropriate rate after consultation with the Company
and the Lenders.

“SEC” means the United States Securities and
Exchange Commission or any successor thereof.

“Security” means a mortgage, charge, pledge,
lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect.

“Selection Notice” means a notice
substantially in the form set out in Part II of

Schedule 3 (Selection Notice)
given in accordance with Clause 13 (Interest
Periods and Terms) in relation to a Term Facility.

“Semi-Annual Financial Statements” has the
meaning given to it in Clause 24.1 (Financial
definitions).

“Senior Management” means the chief
executive officer and the chief financial officer from time to time.

“Specified Time” means a time determined in
accordance with Schedule 9 (Timetables).

“Standard and Poors” means Standard and Poor’s
Rating Services, a division of McGraw-Hill Companies Inc. or any successor to
its rating business.

“Structure Memorandum” means the structure
paper describing the Group and including a group structure chart and a funds
flow showing the flow of funds at closing and prepared by Ernst & Young in
a form and substance satisfactory to the Facility Agent (acting reasonably).

“Subordination Agreement” means the
subordination agreement dated on or about the date of this Agreement made
between, inter alia, the Company
and the Facility Agent relating to the subordination of certain intra-group
loans to amounts due to the Finance Parties under the Finance Documents.

“Subsidiary” means in relation to any
company or corporation, a company or corporation:

(a)                                      which is controlled, directly or indirectly,
by the first mentioned company or corporation;

(b)                                     more than half the issued share capital of
which is beneficially owned, directly or indirectly by the first mentioned
company or corporation; or

(c)                                      which is a Subsidiary of another Subsidiary
of the first mentioned company or corporation,

and
for this purpose, a company or corporation shall be treated as being controlled
by another if that other company or corporation is able to direct its affairs
and/or to control the composition of its board of directors or equivalent body.

 20

 

“Super Majority Lenders” means a Lender or
Lenders whose Commitments aggregate more than 80 per cent. of the Total
Commitments (or, if the Total Commitments have been reduced to zero, aggregated
more than 80 per cent. of the Total Commitments immediately prior to that
reduction).

“Syndication Date” means the day which is 4
Months after the later of the Closing Date or such earlier date specified by
the Mandated Lead Arrangers as the day on which the Facilities have been
successfully syndicated as described in the Fee Letter.

“TARGET” means Trans European Automated Real
time Gross Settlement Express Transfer payment system.

“TARGET Day” means any day on which TARGET
is open for the settlement of payments in euro.

“Tax” means any tax, levy, impost, duty or
other charge or withholding of a similar nature (including any penalty or
interest payable in connection with any failure to pay or any delay in paying
any of the same).

“Term” means each period determined under
this Agreement for which the Issuing Bank is under a liability under a Bank
Guarantee.

“Term Facility” means Facility A1 or
Facility A2.

“Term Loan” means a Facility A1 Loan or a
Facility A2 Loan, as the case may be.

“Termination Date” means the date falling 5
years after the Closing Date.

“Total Commitments” means the aggregate of
the Total Facility A1 Commitments, the Total Facility A2 Commitments and the
Total Revolving Commitments.

“Total Facility A1 Commitments” means the
aggregate of the Facility A1 Commitments.

“Total Facility A2 Commitments” means the
aggregate of the Facility A2 Commitments.

“Total Revolving Commitments” means the
aggregate of the Revolving Commitments.

“Transfer Certificate” means a certificate
substantially in the form set out in Schedule 5 (Form of Transfer Certificate) or any other form agreed
between the Facility Agent and the Company.

“Transfer Date” means, in relation to a
transfer, the later of:

(d)             the proposed Transfer
Date specified in the Transfer Certificate; and

(e)             the date on which the
Facility Agent executes the Transfer Certificate.

“Treasury Transactions” means any derivative
transaction entered into in connection with protection against or benefit from
fluctuations in any rate or price.

 21
  
 

 

 

“Unpaid Sum” means any sum due and payable
but unpaid by an Obligor under the Finance Documents.

“U.S.” and “United States” means the United
States of America, its territories, possessions and other areas subject to the
jurisdiction of the United States of America.

“U.S. Borrower” means a Borrower whose
jurisdiction of organisation is a state of the United States of America or the
District of Columbia.

“U.S. Group Company” means the Company and
its direct and indirect Subsidiaries which are organised under the law of any
State of the United States of America or the District of Columbia.

“U.S. Guarantor” means a Guarantor whose
jurisdiction of organisation is a state of the United States of America or the
District of Columbia.

“U.S. Obligor” means any U.S. Borrower or
U.S. Guarantor.

“Utilisation” means a Loan or a Bank
Guarantee.

“Utilisation Date” means the date on which a
Utilisation is made.

“Utilisation Request” means a notice
substantially in the form set out in Part I of Schedule 3 (Requests).

“VAT” means value added tax and any other
tax of a similar nature.

1.2        Construction

(a)            Unless a contrary
indication appears a reference in this Agreement to:

(i)        the “Facility
Agent”, the “Mandated Lead Arrangers”,
any “Finance Party”, any “Lender”, any “Issuing Bank”,
any “Obligor”, any “Party”
or any other person shall be construed so as to include its successors in
title, permitted assigns and permitted transferees;

(ii)       a document in “agreed form” is a document which is previously agreed in
writing by or on behalf of the Company and the Facility Agent or, if not so
agreed, is in the form to be agreed between the Facility Agent and the Company,
each acting reasonably;

(iii)      “assets”
includes present and future properties, revenues and rights of every
description;

(iv)      the “equivalent”,
on any day, in one currency (the “first currency”)
of a sum denominated in a second currency (the “second
currency”) means the amount of the first currency calculated by the
Facility Agent as being that which would be required by it to purchase the
relevant sum in the second currency in the London spot exchange market at or
about 11.00 a.m. on that day in accordance with its usual practice;

(v)       the “European
interbank market” means the interbank market for euro operating in
Participating Member States;

 22
  
 

 

 

(vi)      a “Finance
Document” or any other agreement or instrument is a reference to
that Finance Document or other agreement or instrument as amended or novated
(however fundamentally);

(vii)     “indebtedness”
includes any obligation (whether incurred as principal or as surety) for the
payment or repayment of money, whether present or future, actual or contingent;

(viii)    “materiality”
and other qualifications will be determined objectively and not at the
discretion of the Facility Agent;

(ix)      a “participation”
of a Lender in:

(A)      a Loan, means the amount of
such Loan which such Lender has made or is to make available and thereafter
that part of the Loan which is owed to such Lender; or

(B)      a Bank Guarantee, means such
Lender’s actual and contingent liabilities in respect of such Bank Guarantee
pursuant to paragraph (b) of Clause 7.4 (Indemnities);

(x)       a “person”
includes any person, firm, company, corporation, government, state or agency of
a state or any association, trust or partnership (whether or not having
separate legal personality) of two or more of the foregoing;

(xi)      “promptly”
and “immediately” means without undue delay;

(xii)     a “regulation”
includes any regulation, rule, official directive, request or guideline
(whether or not having the force of law but, if not, compliance with which is
customary) of any governmental, intergovernmental or supranational body,
agency, department or regulatory, self regulatory or other authority or
organisation;

(xiii)    a provision of law is a
reference to that provision as amended or re enacted; and

(xiv)   a time of day is a reference to
London time.

(b)            Section, Clause and
Schedule headings are for ease of reference only.

(c)             Unless a contrary
indication appears, a term used in any other Finance Document or in any notice
given under or in connection with any Finance Document has the same meaning in
that Finance Document or notice as in this Agreement.

(d)            A Borrower providing “cash cover” for a Bank Guarantee or an Ancillary Facility
means a Borrower paying an amount in the currency of the Bank Guarantee (or, as
the case may be, Ancillary Facility) to an interest bearing account in the name
of that Borrower and the following conditions being met:

 23
  
 

 

 

(i)        the account is with the
Facility Agent (if the cash cover is to be provided for all the Lenders) or
with a Lender or Ancillary Lender (if the cash cover is to be provided for that
Lender or Ancillary Lender);

(ii)       until no amount is or may
be outstanding under that Bank Guarantee or Ancillary Facility, withdrawals
from the account may only be made to pay a Finance Party amounts due and
payable to it under this Agreement in respect of that Bank Guarantee or
Ancillary Facility; and

(iii)      that Borrower has executed a
security document in respect of that account, in form and substance
satisfactory to the Facility Agent, the Lender or Ancillary Lender with which
that account is held, creating a first ranking security interest over that
account.

(e)             A Default (including
an Event of Default) is “continuing” or “outstanding” to the extent it has not been waived, remedied
or has not ceased to exist.

(f)             A Borrower “repaying” or “prepaying” (or
any derivative form thereof) a Bank Guarantee or any Ancillary Outstandings the
liability in respect of which is contingent means:

(i)        that Borrower providing
cash cover for that Bank Guarantee or in respect of the Ancillary Outstandings;

(ii)       the maximum amount payable
under or in respect of the Bank Guarantee or Ancillary Outstandings being
reduced or cancelled in accordance with its terms; or

(iii)      the Issuing Bank, Lender or,
as the case may be, Ancillary Lender being satisfied that it has no further
liability under or in respect of that Bank Guarantee or Ancillary Outstandings,

and the amount by
which a Bank Guarantee is, or Ancillary Outstandings are, repaid or prepaid
under sub-paragraphs (f)(i) and (f)(ii) above is the amount of the relevant
cash cover or reduction.

(g)             A Lender funding its
participation in a Utilisation includes a Lender participating in a Bank
Guarantee.

(h)            An outstanding amount
of a Bank Guarantee at any time is the maximum amount that is or may be payable
by the relevant Borrower in respect of that Bank Guarantee at that time.

(i)              There shall be no
breach of any basket hereunder where such amount has been calculated in a
currency, other than the Base Currency and upon the day of such conversion it
falls within the basket but at a subsequent conversion back into the Base
Currency such basket is breached solely due to the fluctuation in the currency
markets.

 24
  
 

 

 

1.3        Currency Symbols and Definitions

“$”, “dollars”
and “USD” denote lawful currency
of the United States of America and “EUR”,
“€” and “euro” means the single currency unit of the
Participating Member States.

1.4        Third party rights

(a)            Unless expressly
provided to the contrary in a Finance Document, a person who is not a Party has
no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce or
enjoy the benefit of any term of this Agreement.

(b)            Notwithstanding any
term of any Finance Document, the consent of any person who is not a Party is
not required to rescind or vary this Agreement at any time.

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SECTION 2

THE FACILITIES

2.           THE FACILITIES

2.1        The Facilities

(a)            Subject to the terms
of this Agreement, the Lenders make available:

(i)        a term loan facility in an
aggregate amount equal to the Total Facility A1 Commitments being USD
150,000,0000 at the date of this Agreement;

(ii)       a term loan facility in an
aggregate amount equal to the Total Facility A2 Commitments being EUR
275,000,000 at the date of this Agreement;

(iii)      a multicurrency revolving
credit facility in an aggregate amount equal to the Total Revolving Commitments
being USD 150,000,000 at the date of this Agreement; and

(iv)      Subject to the terms of
Clause 2.2 (Incremental Facility)
an uncommitted incremental facility in an aggregate principal amount not to
exceed the Maximum Incremental Facility Amount.

(b)            The Revolving Facility
will be available to the Revolving Facility Borrowers.  Facility A1 will only be available to the
Facility A1 Borrower and Facility A2 will only be available to the Facility A2
Borrower.

(c)             Subject to the terms
of this Agreement and the Ancillary Documents, an Ancillary Lender may make
available an Ancillary Facility to any of the Borrowers in place of all or part
of its Commitment under the Revolving Facility.

2.2        Incremental Facility

(a)            Subject to Clause 2.3
(Incremental Facility Conditions),
a Borrower may by written notice to the Facility Agent establish from time to
time after the Closing Date one or more additional term loans or revolving
loans (an “Incremental Loan”) from one or
more existing Lenders and/or another bank or financial institution (a “Further Lender”) that in each case agrees to make such loans
to the Borrower.  Such notice (an “Incremental Commitment Notice”) shall include:

(i)        the principal amount of
the Incremental Loan it wishes to establish;

(ii)       that such principal amount,
when aggregated with any existing Incremental Loans is less than the Maximum
Incremental Facility Amount;

(iii)      the terms and conditions
(including the name and jurisdiction of incorporation of the proposed borrower)
of the proposed Incremental Loan;

 

 26
  
 

 

 

 

(iv)      the date on which the
proposed Incremental Loan shall become effective and the purpose for which the
proceeds of such Incremental Loan shall be applied;

(v)       an invitation to each
Lender to participate in the Incremental Loan (the amount of such participation
to be pro-rata to the proportion that Lender’s Commitments bear to the Total
Commitments);

(vi)      confirmation (with
supporting calculations where necessary) that each of the conditions set out in
Clause 2.3 (Incremental Facility Conditions) have or
will be met at the date such Incremental Loan becomes effective,

the Incremental
Commitment Notice shall be signed by a director of the Company.

(b)            As soon as reasonably
practicable following receipt of an Incremental Commitment Notice, the Facility
Agent shall forward such Incremental Commitment Notice to the Lenders
requesting that each Lender confirms in writing within 10 Business Days of the
date of the Incremental Commitment Notice whether they accept or decline to
participate in the relevant Incremental Loan.

(c)             If any Lender does
not wish to participate in an Incremental Loan or fails to respond to the
invitation set out in the relevant Incremental Commitment Notice within 10 Business
Days of the date of such Incremental Commitment Notice, the portion of the
Incremental Loan offered to it pursuant to such Incremental Commitment Notice
shall be offered to other existing Lenders pro-rata
to the proportion that each Lender’s Commitments bear to the Total Commitments
for the purpose of this paragraph the definition of which shall be amended to
exclude the Commitments of any declining Lenders.

(d)            To the extent the
existing Lenders decline or fail to accept the invitation to participate in
Incremental Loan in an amount equal to the amount  offered to the Lenders pursuant to
sub-paragraphs (a)(v) and paragraph (c) above (the “Declined
Amount”) within 10 Business Days of the date of the relevant
Incremental Commitment Notice, the Company may nominate a Further Lender to
participate in the relevant Incremental Loan in an amount not exceeding the
Declined Amount.  The Company shall
arrange for each Further Lender to confirm to the Facility Agent in writing
that it has agreed to participate in an Incremental Loan up to the Declined
Amount on the terms set out in the relevant Incremental Commitment Notice
within 20 Business Days of the date of such notice or such other shorter period
requested by the Company.

(e)             A Further Lender may
only participate in a Incremental Loan if it has acceded to this Agreement as a
Lender and each of the conditions set out in Clause 2.3 (Incremental Facility Conditions) have or
will be satisfied on the date the Incremental Facility Commitment in
established).

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(f)             Commitments in
respect of Incremental Loans shall become Commitments under this Agreement
pursuant to an amendment to this Agreement, executed by the relevant Borrower,
each Lender and each Further Lender that agrees to participate in the relevant
Incremental Loan and the Facility Agent. 
For the avoidance of doubt the Facility Agent shall be authorised
without the consent of the Majority Lenders to execute such amendment which
shall include such technical amendments to the terms of this Agreement as are
required to enable the operation of the relevant Incremental Facilities
provided only that the conditions in Clause 2.3 (Incremental Facility Conditions) are met.

2.3        Incremental Facility Conditions

An Incremental
Loan may only be effective if:

(a)            no Default or Event of
Default has occurred and is continuing nor would the drawing of any amount
under the Incremental Loan cause there to be a Default or Event of Default;

(b)            each of the financial
covenants set out in Clause 24 (Financial
Covenants) would be satisfied on a pro-forma
basis on the assumption that the Incremental Loan is drawn in full as of the
last day of the most recently ended Relevant Period;

(c)             the maturity date of
the Incremental Loan is no earlier than the Termination Date hereunder and the
weighted average life to maturity of the Incremental Loan is no shorter than
that of Facilities A1 and A2;

(d)            the claims of the
Lenders in respect of the Term Facilities and the Revolving Facility rank at
least pari passu with the claims
of the Lenders under the Incremental Loan;

(e)             the provisions
relating to mandatory prepayments and guarantees under and of the Incremental
Loan shall be no more favourable to the Lenders under the Incremental Loan
compared to those under the Facilities;

(f)             the Company delivers
to the Facility Agent any legal opinion or other condition precedents
(including any information required to comply with “know your customer” or
similar identification procedures) requested by the Facility Agent (acting
reasonably) prior to utilisation of the Incremental Loan;

(g)             if the proposed
borrower of the Incremental Loan is not a Borrower it becomes an Additional
Borrower on and in accordance with the terms of Clause 28.2 (Additional Borrowers);

(h)            the date upon which
the Incremental Loan is established is no earlier than one Business Day after
the Closing Date.

2.4        Finance Parties rights and obligations

(a)            The obligations of
each Finance Party under the Finance Documents are several.  Failure by a Finance Party to perform its
obligations under the Finance Documents does not affect the obligations of any
other Party under the Finance

 28
  
 

 

 

Documents. 
No Finance Party is responsible for the obligations of any other Finance
Party under the Finance Documents.

(b)            The rights of each
Finance Party under or in connection with the Finance Documents are separate
and independent rights and any debt arising under the Finance Documents to a
Finance Party from an Obligor shall be a separate and independent debt.

(c)             A Finance Party may,
except as otherwise stated in the Finance Documents, separately enforce its
rights under the Finance Documents.

2.5        Obligors’ Agent

(a)            Each Obligor (other
than the Company) by its execution of this Agreement or an Accession Letter
irrevocably appoints the Company to act on its behalf as its agent in relation
to the Finance Documents and irrevocably authorises:

(i)        the Company on its behalf
to supply all information concerning itself contemplated by this Agreement to
the Finance Parties and to give all notices and instructions (including, in the
case of a Borrower, Utilisation Requests), to execute on its behalf any
Accession Letter, to make such agreements and to effect the relevant
amendments, supplements and variations capable of being given, made or effected
by any Obligor notwithstanding that they may affect the Obligor, without
further reference to or the consent of that Obligor; and

(ii)       each Finance Party to give
any notice, demand or other communication to that Obligor pursuant to the
Finance Documents to the Company,

and in each case
the Obligor shall be bound as though the Obligor itself had given the notices
and instructions (including, without limitation, any Utilisation Requests) or
executed or made the agreements or effected the amendments, supplements or
variations, or received the relevant notice, demand or other communication.

(b)            Every act, omission,
agreement, undertaking, settlement, waiver, amendment, supplement, variation,
notice or other communication given or made by the Obligors’ Agent or given to
the Obligors’ Agent under any Finance Document on behalf of another Obligor or
in connection with any Finance Document (whether or not known to any other
Obligor and whether occurring before or after such other Obligor became an
Obligor under any Finance Document) shall be binding for all purposes on that
Obligor as if that Obligor had expressly made, given or concurred with it. In
the event of any conflict between any notices or other communications of the
Obligors’ Agent and any other Obligor, those of the Obligors’ Agent shall
prevail.

(c)             For the purpose of
acting as Obligors’ Agent in accordance with this Clause 2.5, each Obligor
releases the Company from the restrictions of Sec 181 of the German Civil Code
and any equivalent restriction under any applicable law.

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3.           Purpose

3.1        Purpose

(a)            Each Borrower shall
apply all amounts borrowed by it under Facility A1 and Facility A2 towards
refinancing all Financial Indebtedness of the Group outstanding under the
Existing Senior Facilities Agreement and the Existing Mezzanine Facility
Agreement as described in the Structure Memorandum, and costs and expenses
incurred by the Group in connection with the Facilities made available
hereunder.

(b)            Each Borrower shall
apply all amounts borrowed by it under the Revolving Facility, any Bank
Guarantee or any utilisation of any Ancillary Facility towards the general
corporate and working capital purposes of the Group including the cost and
expenses described in paragraph (a).  The
Borrowers under the Revolving Facility shall be entitled to apply amounts
borrowed under the Revolving Facility towards the financing of acquisitions
permitted under sub-paragraph (b)(ii) of Clause 25.7 (Acquisitions).

3.2        Monitoring

No Finance Party
is bound to monitor or verify the application of any amount borrowed pursuant
to this Agreement.

4.           Conditions of Utilisation

4.1        Initial Conditions Precedent

No Borrower may
deliver a Utilisation Request unless the Facility Agent has received all of the
documents and other evidence listed in Part I of Schedule 2 (Conditions Precedent to Delivery of a Utilisation
Request) in form and substance satisfactory to the Facility
Agent.  The Facility Agent shall notify
the Company and the Lenders promptly upon being so satisfied.

4.2        Further Conditions Precedent

The Lenders will
only be obliged to comply with Clause 5.4 (Lenders’
participation) if on the date of the Utilisation Request and on the
proposed Utilisation Date:

(a)            the Facility Agent has
received all of the documents and other evidence listed in Part IA of Schedule
2 (Conditions Precedent to Drawdown)
in form and substance satisfactory to the Facility Agent;

(b)            in the case of a
Rollover Loan, no notice has been delivered under Clause 26.18 (Acceleration) relating to the Revolving
Commitments and, in the case of any other Utilisation, no Default is continuing
or would result from the proposed Utilisation; and

(c)             in relation to any
Utilisation on the Closing Date (subject to Clause 4.3 (Certain Funds)), all the representations
and warranties in Clause 22 (Representations)
or, in relation to any other Utilisation, the Repeating Representations to be
made by each Obligor are true in all material respects.

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4.3        Certain Funds

The Lenders agree
that (without prejudice to Clause 26.19 (Certain
Funds Period)) in relation to the Utilisation under Facility A1 and
Facility A2 requested to be made during the Certain Funds Period, Clause 4.2 (Further Conditions Precedent) shall only
apply if a Certain Funds Default has occurred which is continuing or, in
relation to paragraph (b) of Schedule 12 (Certain
Funds Default), the relevant parties are in negotiations within the
meaning of such paragraph (b).

4.4        Conditions relating to Optional Currencies

(a)            A currency will
constitute an Optional Currency in relation to a Revolving Utilisation if:

(i)        it is readily available in
the amount required and freely convertible into the Base Currency in the
Relevant Interbank Market on the Quotation Day and the Utilisation Date for
that Utilisation; and

(ii)       it is Euro, Australian
dollars or Japanese Yen or has been approved by the Facility Agent (acting on
the instructions of all the Lenders) on or prior to receipt by the Facility
Agent of the relevant Utilisation Request for that Utilisation.

(b)            If the Facility Agent
has received a written request from the Company for a currency to be approved
under sub-paragraph (a)(ii) above, the Facility Agent will confirm to the
Company by the Specified Time:

(i)        whether or not the Lenders
have granted their approval; and

(ii)       if approval has been granted,
the minimum amount (and, if required, integral multiples) for any subsequent
Utilisation in that currency.

4.5        Maximum number of Utilisations

(a)            A Borrower may not
deliver a Utilisation Request if as a result of the proposed Utilisation:

(i)        4 or more Term Loans would
be outstanding under Facility A1 and Facility A2; or

(ii)       10 or more Revolving
Utilisations (or 10 or more Incremental Facility Loans) would be outstanding.

(b)            A Borrower may not
request that a Term Loan be divided if, as a result of the proposed division, 4
or more Term Loans would be outstanding under each of Facility A1 and Facility
A2. A Borrower may not request that a Revolving Loan be divided.

(c)             Any Loan made by a
single Lender under Clause 8.2 (Unavailability
of a currency) shall not be taken into account in this Clause 4.5.

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4.6        Authorisation re fees, etc.

Each Borrower
irrevocably authorises the Facility Agent to deduct from the amount of the
first Utilisation under the Facilities, all fees, costs and expenses then due
from the Company pursuant to Clause 15 (Fees).

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SECTION
3

UTILISATION

5.           Utilisation of Loans

5.1        Delivery of a Utilisation Request

A Borrower may
utilise a Facility by delivery to the Facility Agent of a duly completed
Utilisation Request not later than the Specified Time.

5.2        Completion of a Utilisation Request

(a)            Each Utilisation
Request is irrevocable and will not be regarded as having been duly completed
unless:

(i)        it identifies the Facility
to be utilised;

(ii)       the proposed Utilisation
Date is a Business Day within the Availability Period applicable to that
Facility;

(iii)      the currency and amount of
the Utilisation comply with Clause 5.3 (Currency
and amount); and

(iv)      the proposed Interest Period
complies with Clause 13 (Interest Periods
and Terms).

(b)            Only one Utilisation
may be requested in each Utilisation Request.

5.3        Currency and amount

(a)            The currency specified
in a Utilisation Request must be the Base Currency or, in case of the Revolving
Facility, the Base Currency or an Optional Currency.

(b)            The amount of the
proposed Utilisation must be:

(i)        for Facility A1, an amount
equal to USD 150,000,000 or, if less, the Available Facility; or

(ii)       for Facility A2, an amount
equal to euro 275,000,000 or, if less, the Available Facility; or

(iii)      for the Revolving Facility,
a minimum amount of USD 1,000,000 (and thereafter integral multiples of
USD 500,000) (or if an Optional Currency (subject to paragraph (b) of
Clause 4.4 (Conditions relating to Optional
Currencies)) its equivalent) or, if less, the Available Facility.

(c)             For the avoidance of
doubt, none of the requirements in paragraph (b) above shall apply to any
Ancillary Facility.

5.4        Lenders’ participation

(a)            If the conditions set
out in this Agreement for the relevant Facility have been met, each Lender
shall make its participation in each Loan available by the Utilisation Date
through its Facility Office.

 33
  
 

 

 

(b)            The amount of each
Lender’s participation in each Loan will be equal to the proportion borne by
its Available Commitment to the Available Facility immediately prior to making
the Loan.

(c)             The Facility Agent
shall determine the Base Currency Amount of each Revolving Loan which is to be
made in an Optional Currency and shall notify each Lender of the amount of each
Loan and the amount of its participation in that Loan by the Specified Time.

5.5        Limitation on Utilisations

The Revolving
Facility shall not be utilised on the Closing Date unless Facility A1 and
Facility A2 are drawn in full at the same time.

6.           utilisation by way of bank
guarantees

6.1        The Revolving Facility

(a)            The Revolving Facility
may be utilised by way of Bank Guarantees.

(b)            Other than Clause 5.5
(Limitations on Utilisations),
Clause 5 (Utilisation of Loans)
does not apply to utilisation by way of Bank Guarantees.

6.2        Delivery of a Utilisation Request for Bank Guarantees

A Borrower may
request a Bank Guarantee or the renewal of an existing Bank Guarantee by
delivery to the Facility Agent of a duly completed Utilisation Request in the
form of Part IB of Schedule 3 (Utilisation
Request Bank Guarantees) not later than the Specified Time.

6.3        Completion of a Utilisation Request for Bank Guarantees

Each Utilisation
Request for a Bank Guarantee is irrevocable and will not be regarded as having
been duly completed unless:

(a)            it specifies that it
is for a Bank Guarantee;

(b)            the proposed
Utilisation Date is a Business Day within the Availability Period applicable to
the Revolving Facility;

(c)             the currency and
amount of the Bank Guarantee comply with Clause 6.4 (Currency and amount);

(d)            the form of Bank
Guarantee is attached;

(e)             the Expiry Date of
the Bank Guarantee falls on or before the Termination Date in relation to the
Revolving Facility;

(f)             the Term of the Bank
Guarantee is 12 months or less;

(g)             the delivery
instructions for the Bank Guarantee are specified; and

(h)            in the case of a
Utilisation Request for the renewal of a Bank Guarantee the terms shall be the
same as those of the relevant Bank Guarantee immediately prior to its renewal
except that:

 34
  
 

 

 

(i)        paragraph (d) above shall
not apply;

(ii)       its amount may be less than
the amount of the Bank Guarantee immediately prior to its renewal; and

(iii)      its Term shall start on the
date which was the Expiry Date of the Bank Guarantee immediately prior to its
renewal and shall end on the proposed Expiry Date specified in the renewal
Utilisation Request (which for the avoidance of doubt, shall be no longer than
12 months after the date of the relevant renewal Utilisation Request).

6.4        Currency and amount

(a)            The currency specified
in a Utilisation Request must be the Base Currency or an Optional Currency.

(b)            The amount of the
proposed Bank Guarantee must be an amount whose Base Currency Amount is not
more than the Available Facility and which is if the currency selected is the
Base Currency, a minimum of USD 500,000 (or, if an Optional Currency, its
equivalent) or, if less, the Available Facility.

6.5        Issue of Bank Guarantees

(a)            If the conditions set
out in this Agreement have been met, the Issuing Bank shall:

(i)        issue the Bank Guarantee
on the Utilisation Date; and

(ii)       if so requested amend and
reissue any Bank Guarantee on its Expiry Date.

(b)            No Borrower may
deliver a Utilisation Request unless the Facility Agent has made the
notification pursuant to Clause 4.1 (Initial
Conditions Precedent).

(c)             The Issuing Bank will
only be obliged to comply with paragraph (a) above if on the date of the
Utilisation Request and on the proposed Utilisation Date:

(i)        in the case of a Bank
Guarantee to be renewed, no notice has been delivered under Clause 26.18 (Acceleration) relating to the Revolving
Commitments and, in the case of any other Utilisation, no Default is continuing
or would result from the proposed Utilisation; and

(ii)       in relation to any
Utilisation on the Closing Date, all the representations and warranties in
Clause 22 (Representations) or,
in relation to any other Utilisation, the Repeating Representations to be made
by each Obligor are true in all material respects.

(d)            The amount of each
Lender’s participation in each Bank Guarantee will be equal to the proportion
borne by its Available Commitment to the Available Facility (in each case in
relation to the Revolving Facility) immediately prior to the issue of the Bank
Guarantee.

(e)             The Facility Agent
shall determine the Base Currency Amount of each Bank Guarantee which is to be
issued in an Optional Currency and shall notify the

 35
  
 

 

 

Issuing Bank and each Lender of the details
of the requested Bank Guarantee and its participation in that Bank Guarantee by
the Specified Time.

7.           BANK GUARANTEES

7.1        Immediately payable

If a Bank
Guarantee or any amount outstanding under a Bank Guarantee is expressed to be
immediately payable, the Borrower that requested the issue of that Bank
Guarantee shall repay or prepay that amount immediately.

7.2        Fees payable in respect of Bank Guarantees

(a)            The relevant Borrower
shall pay to the Issuing Bank a fronting fee at the rate of 0.125 per cent. per
annum on the outstanding amount which is counter-indemnified by the other
Lenders of each Bank Guarantee requested by it for the period from the date of
issue of that Bank Guarantee until its Expiry Date.

(b)            The relevant Borrower
shall pay to the Facility Agent (for the account of each Lender) a Bank
Guarantee fee in the Base Currency computed at the rate equal to the Margin
applicable to a Revolving Loan on the outstanding amount of each Bank Guarantee
requested by it for the period from the issue of that Bank Guarantee until its
Expiry Date.  This fee shall be
distributed according to each Lender’s Bank Guarantee Proportion of that Bank
Guarantee.

(c)             The accrued Bank
Guarantee fee on a Bank Guarantee shall be payable on the first day of each
successive period of three Months (or such shorter period as shall end on the
Expiry Date for that Bank Guarantee) starting on the date of issue of that Bank
Guarantee and on any date the Revolving Facility is cancelled in full and the
Bank Guarantee is prepaid or repaid in full.

7.3        Claims under a Bank Guarantee

(a)            Each Borrower
irrevocably and unconditionally authorises the Issuing Bank to pay any claim
made or purported to be made under a Bank Guarantee requested by it and which
appears on its face to be in order (a “claim”).

(b)            Each Borrower shall
immediately on demand or, if such payment is being funded by a Revolving Loan,
shall within three Business Days of demand pay to the Facility Agent for the
Issuing Bank an amount equal to the amount of any claim.

(c)             Each Borrower
acknowledges that the Issuing Bank:

(i)        is not obliged to carry
out any investigation or seek any confirmation from any other person before
paying a claim; and

(ii)       deals in documents only and
will not be concerned with the legality of a claim or any underlying
transaction or any available set off, counterclaim or other defence of any
person.

7.4        Indemnities

(a)            Each Borrower shall
within 3 Business Days of demand indemnify the Issuing Bank against any cost,
loss or liability incurred by the Issuing Bank (otherwise

 36
  
 

 

 

than by reason of the Issuing Bank’s gross
negligence or wilful misconduct or material breach of its contractual
obligations) in acting as the Issuing Bank under any Bank Guarantee requested
by (or on behalf of) that Borrower.

(b)            Each Lender shall
within 3 Business Days of demand indemnify the Issuing Bank against such Lender’s
Bank Guarantee Proportion of any cost, loss or liability incurred by the
Issuing Bank (otherwise than by reason of the Issuing Bank’s gross negligence
or wilful misconduct) in acting as the Issuing Bank under any Bank Guarantee
(unless the Issuing Bank has been reimbursed by an Obligor pursuant to a
Finance Document).

(c)             If any Lender is not
permitted (by its constitutional documents or any applicable law) to comply
with paragraph (b) above, then that Lender will not be obliged to comply with
paragraph (b) and shall instead be deemed to have taken, on the date the Bank
Guarantee is issued (or if later, on the date the Lender’s participation in the
Bank Guarantee is transferred or assigned to the Lender in accordance with the
terms of this Agreement), an undivided interest and participation in the Bank
Guarantee in an amount equal to its Bank Guarantee Proportion of that Bank
Guarantee.  On receipt of demand from the
Facility Agent, that Lender shall pay to the Facility Agent (for the account of
the Issuing Bank) an amount equal to its Bank Guarantee Proportion of the
amount demanded.

(d)            The Borrower which
requested (or on behalf of which the Company requested) a Bank Guarantee shall
immediately on demand reimburse any Lender for any payment it makes to the
Issuing Bank under this Clause 7.4 in respect of that Bank Guarantee.

(e)             The obligations of
each Lender under this Clause 7.4 are continuing obligations and will extend to
the ultimate balance of sums payable by that Lender in respect of any Bank
Guarantee, regardless of any intermediate payment or discharge in whole or in
part.

(f)             The obligations of
any Lender or Borrower under this Clause 7.4 will not be affected by any act,
omission matter or thing which, but for this Clause 7.4, would reduce, release
or prejudice any of its obligations under this Clause (without limitation and
whether or not known to it or any other person) including:

(i)        any time, waiver or
consent granted to, or composition with, any Obligor, any beneficiary under a
Bank Guarantee or other person;

(ii)       the release of any other
Obligor or any other person under the terms of any composition or arrangement
with any creditor or any member of the Group;

(iii)      the taking, variation,
compromise, exchange, renewal or release of, or refusal or neglect to perfect,
take up or enforce, any rights against, or security over assets of, any
Obligor, any beneficiary under a Bank

 37
  
 

 

 

Guarantee or other person or any non
presentation or non observance of any formality or other requirement in respect
of any instrument or any failure to realise the full value of any security;

(iv)      any incapacity or lack of
power, authority or legal personality of or dissolution or change in the
members or status of an Obligor, any beneficiary under a Bank Guarantee or any
other person;

(v)       any amendment (however
fundamental) or replacement of a Finance Document, any Bank Guarantee or any
other document or security;

(vi)      any unenforceability,
illegality or invalidity of any obligation of any person under any Finance
Document, any Bank Guarantee or any other document or security; or

(vii)     any insolvency or similar
proceedings.

7.5        Rights of contribution

No Obligor will be
entitled to any right of contribution or indemnity from any Finance Party in
respect of any payment it may make under this Clause 7.

7.6        Settlement Conditional

Any settlement or
discharge between a Lender and the Issuing Bank shall be conditional upon no
security or payment to the Issuing Bank by a Lender or any other person on
behalf of a Lender being avoided or reduced by virtue of any laws relating to
bankruptcy, insolvency, liquidation or similar laws of general application and,
if any such security or payment is so avoided or reduced, the Issuing Bank
shall be entitled to recover the value or amount of such security or payment
from such Lender subsequently as if such settlement or discharge had not
occurred.

7.7        Exercise of Rights

The Issuing Bank
shall not be obliged before exercising any of the rights, powers or remedies
conferred upon it in respect of any Lender by this Agreement or by law:

(a)            to take any action or
obtain judgment in any court against any Obligor;

(b)            to make or file any
claim or proof in a winding up or dissolution of any Obligor; or

(c)             to enforce or seek to
enforce any other security taken in respect of any of the obligations of any
Obligor under this Agreement.

8.           Optional Currencies

8.1        Selection of currency

A Borrower shall
select the currency of a Revolving Utilisation in a Utilisation Request.

8.2        Unavailability of a currency

If before the
Specified Time on any Quotation Day:

(a)            a Lender notifies the
Facility Agent that the Optional Currency requested is not readily available to
it in the amount required; or

 38
  
 

 

 

(b)            a Lender notifies the
Facility Agent that compliance with its obligation to participate in a Loan in
the proposed Optional Currency would contravene a law or regulation applicable
to it,

the Facility Agent
will give notice to the relevant Borrower to that effect by the Specified Time
on that day.  In this event, any Lender
that gives notice pursuant to this Clause 8.2 will be required to participate
in the Loan in the Base Currency (in an amount equal to that Lender’s
proportion of the Base Currency Amount, or in respect of a Rollover Loan, an
amount equal to that Lender’s proportion of the Base Currency Amount of the
Rollover Loan that is due to be paid) and its participation will (other than
for the purposes of calculating maximum numbers of loans under Clause 4.6) be
treated as a separate Loan denominated in the Base Currency during that
Interest Period.

8.3        Facility Agent’s calculations

Each Lender’s
participation in a Loan will be determined in accordance with paragraph (b) of
Clause 5.4 (Lenders’ participation).

9.           Ancillary Facilities

9.1        Type of Facility

An Ancillary
Facility may be by way of:

(a)            an overdraft facility;

(b)            a guarantee, bonding,
documentary or stand by letter of credit facility;

(c)             any other facility or
accommodation required in connection with the business of the Group and which
is agreed to by the Company with an Ancillary Lender.

9.2        Availability

(a)            If the Company and a
Lender agree and subject as provided below, the Lender may provide an Ancillary
Facility on a bilateral basis to a Borrower(s) in place of all or part of that
Lender’s unutilised Revolving Commitment, provided that
no more than 5 Ancillary Facilities may be outstanding at any time.

(b)            An Ancillary Facility
shall not be made available unless the Facility Agent has first been provided
with the notice and other information contemplated by Clause 9.3 (Approval process).

(c)             If the Facility Agent
approves an Ancillary Facility (approval of which shall not be unreasonably
withheld), then:

(i)             the Lender concerned
will become an Ancillary Lender; and

(ii)            the Ancillary Facility
will be available,

with effect from
the date agreed by the Company and the Ancillary Lender.

9.3        Approval process

Not less than 5
Business Days prior to the Commencement Date for an Ancillary Facility the
Company shall deliver to the Facility Agent:

 39
  
 

 

 

(a)            a notice specifying:

(i)        the proposed Borrower(s)
which may use the Ancillary Facility;

(ii)       the proposed Commencement
Date and expiry date of the Ancillary Facility;

(iii)      the proposed type of
Ancillary Facility to be provided;

(iv)      the proposed Ancillary
Lender;

(v)       the proposed applicable
Ancillary Commitment; and

(vi)      the proposed currency in
which the Ancillary Facility may be drawn;

(b)            a copy of the proposed
Ancillary Facility Document; and

(c)             any other information
which the Facility Agent may reasonably require in connection with the
Ancillary Facility.

The Facility Agent
shall promptly notify the Company, the Ancillary Lender and the other Lenders
of the establishment of an Ancillary Facility.

9.4        Terms of Ancillary Facilities

(a)            Except as provided
below, the terms of any Ancillary Facility will be those agreed by the
Ancillary Lender and the Company.

(b)            However, those terms:

(i)        must be based upon normal
commercial terms at that time (except as varied by this Agreement);

(ii)       may allow only Borrowers to
use the Ancillary Facility;

(iii)      may not allow the Ancillary
Outstandings to exceed the Ancillary Commitment;

(iv)      may not allow the Ancillary
Commitment of a Lender to exceed the Available Commitment with respect to the
Revolving Facility of that Lender; and

(v)       must ensure that the
Ancillary Commitment is reduced to nil, and that all Ancillary Outstandings are
repaid not later than the Termination Date for the Revolving Facility.

(c)             If there is any
inconsistency between any term of an Ancillary Facility and any term of this
Agreement, this Agreement shall prevail except for Clause 35.3 (Day Count Convention) which shall not
prevail for the purposes of calculating fees, interest or commission relating
to an Ancillary Facility other than the fee referred to in paragraph (d) of
Clause 9.7 (Interest, Commitment Commission
and Fees on Ancillary Facilities).

 

 40
  

 

9.5                         Refinancing of Ancillary
Facility

(a)                                     No Ancillary Lender may demand repayment or
prepayment of any amounts under its Ancillary Facility unless:

(i)                        the Total Revolving Commitments have been cancelled in full, or the
Facility Agent has declared all outstanding Utilisations under the Revolving
Facility immediately due and payable; or

(ii)                     the Ancillary Outstandings under that Ancillary Facility can be repaid
by a Revolving Loan.

(b)                                     The share of the Ancillary Lender in a
Revolving Loan being used to refinance that Ancillary Lender’s Ancillary
Facility will be that amount which will result (so far as possible) in:

(i)                        the proportion which its share of all outstanding Utilisations under
the Revolving Facility bears to the aggregate amount of the outstanding
Utilisations under the Revolving Facility

being equal to:

(ii)                     the proportion which its Available Commitment with respect to the
Revolving Facility bears to the aggregate of the Available Commitments,

in each case, assuming the repayment of the relevant Ancillary
Facility has taken place.

The share of the other Lenders in any such Revolving
Loan will be adjusted accordingly.

9.6                         Information

Each Borrower and each Ancillary Lender shall,
promptly upon request by the Facility Agent, supply the Facility Agent with any
information relating to the operation of an Ancillary Facility  (including the Ancillary Outstandings) as the
Facility Agent may reasonably request from time to time.  Each Borrower consents to all such
information being released to the Facility Agent and the other Finance Parties.

9.7                         Interest, Commitment
Commission and Fees on Ancillary Facilities

(a)                                     The rate and time of payment of interest,
commission, fees and any other remuneration in respect of each Ancillary
Facility shall be determined by agreement between the Ancillary Lender and the
Borrower concerned (or the Company on behalf of any other Borrower(s)) based
upon normal market rates and terms.

(b)                                     A reference in this Agreement to a Fee Letter
shall include the provisions of any document setting out the agreement between
the Ancillary Lender and the Borrower in respect of interest, commission, fees
and other remuneration.

(c)                                      Accrued interest, commission, fees and other
remuneration in respect of an Ancillary Facility shall also be payable to the
Ancillary Lender on cancellation

 41
 

 

 

of the Ancillary Commitment in respect of that Ancillary Facility at
the time the cancellation is effective if the Ancillary Commitment is cancelled
in full.

(d)                                     The relevant Borrower shall pay to the
relevant Ancillary Lender a fee in the Base Currency computed at the rate
applicable to the Revolving Facility under paragraph (a) of Clause 15.1 (Commitment Fee) on the unused portion of
any Ancillary Facility (being the Ancillary Commitment applicable to that
Ancillary Facility minus the Ancillary Outstandings under that Ancillary
Facility) for the period for which that Ancillary Facility is made available by
that Ancillary Lender.

(e)                                      The accrued commitment fee in respect of an
Ancillary Facility is payable on the last day of each successive period of
three Months which ends during the period for which that Ancillary Facility is
available, on the last day of the availability period for that Ancillary
Facility and on the cancelled amount of the Ancillary Lender’s Ancillary
Commitment for that Ancillary Facility at the time the cancellation is
effective.

9.8                         Reduction and Increase of
Revolving Commitment

The Revolving Commitment of each Ancillary Lender
shall be reduced pro tanto by the
amount of its Ancillary Commitment but shall automatically increase upon that
Ancillary Facility ceasing to be available to the relevant Borrower or upon the
Ancillary Facility being cancelled.

9.9                         Affiliates of Lenders as
Ancillary Lenders

(a)                                     Subject to the terms of this Agreement, an Affiliate
of a Lender may become an Ancillary Lender. 
In such case, the Lender and its Affiliate shall be treated as a single
Lender whose Revolving Commitment is the amount set out opposite the relevant
Lender’s name in Schedule 1 (The Original
Lenders).  For the purposes of
calculating the Lender’s Available Commitment with respect to the Revolving
Facility, the Lender’s Commitment shall be reduced to the extent of the
aggregate of the Ancillary Commitments of its Affiliates.

(b)                                     The Company shall specify any relevant
Affiliate of a Lender in any notice delivered by the Company to the Facility
Agent pursuant to paragraph (a) of Clause 9.3 (Approval
process).

(c)                                      If a Lender assigns all of its rights and
benefits or transfers all of its rights and obligations to a New Lender (as
defined in Clause 27 (Changes to the Lenders),
its Affiliate shall cease to have any obligations under this Agreement or any
Ancillary Document.

(d)                                     Where this Agreement or any other Finance
Document imposes an obligation on an Ancillary Lender and the relevant
Ancillary Lender is an Affiliate of a Lender which is not a party to that
document, the relevant Lender shall ensure that the obligation is performed by
its Affiliate.

 42
 

 

 

SECTION
4

REPAYMENT, PREPAYMENT AND
CANCELLATION

10.                         Repayment

10.1                  Repayment of Facility Term
Loans

(a)                                     The Borrowers under Facility A1 and Facility
A2 shall repay the aggregate Facility A1 Loans and the aggregate Facility A2
Loans in instalments by repaying on each Facility A1 Repayment Date or each
Facility A2 Repayment Date, as the case may be, an amount equal to the relevant
percentage of all Facility A1 Loans and all Facility A2 Loans borrowed by the
Borrowers as at close of business in London on the last day of the Availability
Period in relation to Facility A1 or Facility A2 as set out opposite such
Facility A1 Repayment Date or Facility A2 Repayment Date in the table below:

	
  Repayment Date

  	
   

  	
  Facility A1

  Repayment

  Instalment (in USD)

  	
   

  	
  Facility A2

  Repayment

  Instalment (in

  EUR)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date falling 36
  months after the Closing Date

  	
   

  	
  15

  	
  %

  	
  15

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date falling 48
  months after the Closing Date

  	
   

  	
  15

  	
  %

  	
  15

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date falling 60 months
  after the Closing Date

  	
   

  	
  70

  	
  %

  	
  70

  	
  %

  

 

(b)                                     If, in relation to a Facility A1 Repayment
Date or Facility A2 Repayment Date, the aggregate amount of the Facility A1
Loans or Facility A2 Loans, as the case may be, made to the Borrowers exceeds
the Facility A1 Repayment Instalment or the Facility A2 Repayment Instalment as
the case may be to be repaid, the Company may, if it gives the Facility Agent
not less than five Business Days’ prior notice, select which of the Facility A1
Loans or Facility A2 Loans will be wholly or partially repaid so that the
Facility A1 Repayment Instalment or Facility A2 Repayment Instalment, as the
case may be, is repaid on the relevant Repayment Date in full.  The Company may not make a selection if as a
result more than one Facility A1 Loan or Facility A2 Loan will be partially
repaid. As between the Borrowers, all Facility A1 Repayment Instalments and
Facility A2 Repayment Instalments shall be applied at the direction of the
Company.

(c)                                      If the Company fails to deliver a notice to
the Facility Agent in accordance with paragraph (b) above, the Facility Agent
shall select the Facility A1 Loans and Facility A2 Loans to be wholly or
partially repaid.

(d)                                     No Borrower may reborrow any part of a Term
Facility which is repaid.

 43
 

 

 

10.2                  Repayment of Revolving Loans

(a)                                     Each Borrower which has drawn a Revolving
Loan shall repay that Loan on the last day of its Interest Period.

(b)                                     Where, on the same day on which a Borrower is
due to repay a Revolving Loan, such Borrower has also requested a Rollover Loan
be made to it, the amount to be so repaid and the amount to be so drawn down
shall be netted off against each other so that the amount which that Borrower
is actually required to repay or is entitled to receive (as the case may be)
shall be the net amount after such netting off.

10.3                  Effect of Prepayment and
Cancellation on Scheduled Repayments and Reductions

(a)                                     If the Company cancels the whole or any part
of the Facility A1 Commitments or the Facility A2 Commitments in accordance
with Clause 11.6 (Right of repayment and
cancellation in relation to a single Lender or Issuing Bank) or if
any of the Facility A1 Commitments or the Facility A2 Commitments of any Lender
is reduced under Clause 11.1 (Illegality of
a Lender) then the amount of the Facility A1 Repayment Instalment
for each Facility A1 Repayment Date or Facility A2 Repayment Instalment for
each Facility A2 Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled.

(b)                                     If the Company cancels the whole or any part
of the Facility A1 Commitments or the Facility A2 Commitments in accordance
with Clause 11.3 (Voluntary cancellation)
or prepays any part of the Facility A1 Loan or Facility A2 Loan in accordance
with Clause 11.4 (Voluntary prepayment of
Term Loans) then the amount so cancelled or prepaid (as the case may
be) shall be applied over the remaining Facility A1 Repayment Instalments or
Facility A2 Repayment Instalments as the Company may select.

(c)                                      If any of the Facility A1 Loans or Facility
A2 Loans are prepaid in accordance with Clause 11.6 (Right of repayment and cancellation in relation to a single Lender or
Issuing Bank) or Clause 11.1 (Illegality
of a Lender) then the amount of the Facility A1 Repayment Instalment
or Facility A2 Repayment Instalment for each Facility A1 Repayment Date and
each Facility A2 Repayment Date, respectively after that prepayment will reduce
pro rata by the amount of the
Facility A1 Loan or Facility A2 Loan prepaid.

11.                         Prepayment and Cancellation

11.1                  Illegality of a Lender

If at any time, it becomes unlawful in any applicable
jurisdiction for a Lender to perform any of its obligations as contemplated by
this Agreement or to make, fund, issue or maintain its participation in any
Utilisation that Lender shall promptly notify the Facility Agent upon becoming
aware of that event and upon the Facility Agent notifying the Company:

(a)                                     that Lender shall not thereafter be obliged
to participate in any Utilisation and the Commitments of that Lender shall
immediately be reduced to zero and cancelled; and

 44
 

 

 

(b)                                     the Company shall and shall procure that each
other Borrower will, on or before such date as the Facility Agent shall have
specified, (allowing the Borrower the full benefit of any grace period
permitted by law), repay that Lender’s participation in the Utilisations made
to it or that Borrower together with accrued interest on and all other amounts
owing to that Lender under the Finance Documents or replace such Lender
pursuant to Clause 38.4 (Replacement of a
Lender).

11.2                  Illegality of Issuing Bank

If at any time after the date of this Agreement it
becomes unlawful for the Issuing Bank to issue or leave outstanding any Bank
Guarantee, the Revolving Facility shall cease to be available for the issue of
Bank Guarantees and the Company shall procure that each other Borrower uses its
best endeavours to procure the release of each Bank Guarantee outstanding at
such time.

11.3                  Voluntary cancellation

(a)                                     Subject to paragraph (b) below the Company
may, if it gives the Facility Agent not less than 3 Business Days’ (or such
shorter period as the Majority Lenders may agree) prior notice, cancel the
whole or any part of an Available Facility. 
Any cancellation under this Clause 11.3 shall reduce rateably the
Commitments of the Lenders under that Facility.

(b)                                     The Company shall not cancel any part of the
Facility A1 Available Commitment or the Facility A2 Available Commitment unless
the aggregate Base Currency Amount of such cancellations is at least EUR
1,000,000 or the USD equivalent thereof.

11.4                  Voluntary prepayment of Term
Loans

(a)                                     Subject to paragraph (b) below, the Borrowers
may, if the Company gives the Facility Agent not less than 3 Business Days’ (or
such shorter period as the Majority Lenders may agree) prior notice, prepay the
whole or any part of any Term Loans which such Borrowers may select (but, if in
part, being an amount that reduces the Base Currency Amount of the Term Loans
by a minimum amount of EUR 1,000,000) or the USD equivalent thereof.

(b)                                     A Term Loan may only be prepaid after the
last day of the Availability Period (or, if earlier, the day on which the
applicable Available Facility is zero).

11.5                  Voluntary prepayment of
Revolving Utilisations

The Borrower to which a Revolving Utilisation has been
made may, if it or the Company gives the Facility Agent not less than 3
Business Days’ (or such shorter period as the Majority Lenders may agree) prior
notice, prepay the whole or any part of a Revolving Utilisation (but if in
part, being an amount that reduces the Base Currency Amount of the Revolving
Utilisation by a minimum amount of USD 1,000,000).

11.6                  Right of repayment and cancellation
in relation to a single Lender or Issuing Bank

(a)                                     If:

(i)                        any sum payable to any Lender by an Obligor is required to be increased
under sub-paragraph (a)(iii) of Clause 16.2 (Tax
gross up);

 45
 

 

 

(ii)                     any Lender or Issuing Bank claims indemnification from the Company or
any other Obligor under Clause 16.3 (Tax
indemnity) or Clause 17.1 (Increased
costs); or

(iii)                  any
Lender notifies the Facility Agent of its Additional Cost Rate under paragraph
3 of Schedule 4 (Mandatory Cost Formulae),

the Company may, whilst (in the case of paragraphs (i)
and (iii) above) the circumstance giving rise to the requirement or
indemnification continues or whilst (in the case of sub-paragraph (iii) above)
that Additional Cost Rate is greater than zero, give the Facility Agent notice
of cancellation of the Commitments of that Lender and its intention to procure
the repayment of that Lender’s participation in the Utilisations.

(b)                                     On receipt of a notice referred to in
paragraph (a) above, the Commitments of that Lender shall immediately be
reduced to zero.

(c)                                      On the last day of each Interest Period which
ends after the Company has given notice under paragraph (a) above (or, if
earlier, the date specified by the Company in that notice), each Borrower to
which a Utilisation is outstanding shall repay that Lender’s participation in
that Utilisation.

11.7                  Exit

(a)                                     For the purpose of this Clause 11.7:

(i)                        “Change of Control” means the Initial
Investors or any funds controlled by the Initial Investors cease to control
directly or indirectly the Company provided
that, no Change of Control shall be deemed to occur if the board of
directors of the Company shall consist of a majority of continuing directors.

For the purposes of the definition of “Change of Control” in this Clause 11.7, “control” means, in relation to the Company:

(i)                        the power (whether by way of ownership of shares, proxy, contract,
agency or otherwise) to:

(A)                 cast,
or control the casting of, more than one half of the maximum number of votes
that might be cast at a general meeting of the Company; or

(B)                 appoint
or remove all, or the majority, of the directors or other equivalent officers
of the Company; or

(C)                 give
directions with respect to the operating and financial policies of the Company
generally which the directors or other equivalent officers of the Company are
obliged to comply with,

(ii)                     “continuing directors” means directors of the Company who were
immediately prior to the occurrence of any event or circumstance that would
(but for the proviso set out in sub-paragraph (a)(i) above) result in a

 46
 

 

 

Change of Control, directors, nominees of such directors or nominees of
the Initial Investors.

(b)                                     Upon the occurrence of a Change of Control or
the sale of the whole or substantially the whole of the Group’s business and assets,
the Facility Agent (acting on the instructions of the Majority Lenders) may by
not less than 90 days notice to the Company, cancel the Facilities in full and
require that the Term Loans, each Revolving Loan and each Bank Guarantee shall
be prepaid in full together with interest thereon and all other amounts accrued
and owing by each Party (other than a Finance Party) under the Finance
Documents.

11.8                  Equity Proceeds

(a)                                     For the purpose of this Clause 11.8, “Equity Proceeds” means the cash proceeds (after deducting
any costs reasonably incurred in raising such equity proceeds) in excess of EUR
40,000,000 raised from the primary issuance by the Company or any other member
of the Group of shares or other equity instrument on any recognised stock exchange
or other capital market.

(b)                                     No member of the Group shall be permitted to
raise Equity Proceeds to fund (directly or indirectly) the payment of a
dividend or other distribution to any shareholder of the Company.

(c)                                      Notwithstanding the terms of paragraph (d)
below, any Equity Proceeds specifically raised for the purpose of prepaying the
Facilities shall be applied in payment of the Facilities within 5 Business Days
of receipt.

(d)                                     Subject to paragraph (c) above, the Company
shall procure that each member of the Group shall apply an amount equal to the
amount of Equity Proceeds received by it for the particular purpose for which
they were raised provided
that such purpose is
permitted under this Agreement (a “Specified
Purpose”) within 12 months
of the date of receipt (or shall be committed to be applied for such purpose
within such period and applied within 24 months of the date of receipt).  If such Equity Proceeds are not applied
towards a Specified Purpose within the time periods referred to above, then the
Company shall procure that the Borrowers prepay Loans in an amount equal to 50%
of the amount of such Equity Proceeds together with interest thereon and all
other amounts accrued and owing by each Party (other than a Finance Party)
under the Finance Documents subject to Clause 11.12 (Prepayment elections). 
The prepayments shall be applied under Clause 11.10 (Application of prepayments).  Equity Proceeds shall not be required to be
applied in prepayment of the Facilities if the Non-Leveraged Criteria has been
met prior to the last date upon which such prepayment is required to be made.

11.9                  Disposal proceeds

(a)                                     For the purposes of this Clause 11.9:

“Disposal”
means a sale, lease, transfer, loan or other disposal by a person of any asset,
undertaking or business (whether voluntary or involuntary and whether as a
single transaction or a series of related transactions).

 47
 

 

 

“Disposal Proceeds”
means the cash consideration received by any member of the Group (including any
amount received in repayment of intercompany debt by a member of the Group from
a company disposed of) for any Disposal made by any member of the Group after
deducting:

(i)                        amounts which are to be applied in the reinvestment of assets or
towards acquisitions permitted under Clause 25.7 (Acquisitions) within twelve months of receipt of such
proceeds (or committed for such application within such period and applied
within eighteen months of receipt);

(ii)                     expenses incurred by any member of the Group with respect to that
Disposal to person(s) who are not members of the Group;

(iii)                  any
Tax incurred and required to be paid by the seller in connection with that
Disposal (as reasonably determined by the seller, on the basis of existing
rates and taking account of any available credit, deduction or allowance);

(iv)                 the
amount of any reserve maintained by the relevant member of the Group, acting
reasonably, in accordance with the Accounting Principles with respect to
purchase price adjustment or indemnification obligations owing pursuant to the
documentation pursuant to which such Disposal is consummated (with any unused
portion of such reserve to constitute Disposal Proceeds on the date upon which
the purchase price adjustment or indemnification obligations terminate or such
reserve is reduced other than in connection with a payment to the relevant
purchaser);

(v)                    the amount of the Disposal Proceeds which is immediately upon such
Disposal occurring required to be applied in repaying Financial Indebtedness of
the member of the Group making such Disposal where such Financial Indebtedness
relates to the asset disposed of;

(vi)                 EUR
80,000,000 (or its equivalent in any currency) in any one year and an aggregate
amount of EUR 200,000,000 during the life of the Facilities,

and provided that
the proceeds of any Disposal which are less than EUR 1,000,000 and the
proceeds of any Permitted Disposal shall be excluded from all consideration.

(b)                                     Subject to paragraph (c) below the Company
shall ensure that it and the other Borrowers prepay Loans in an amount equal to
the Disposal Proceeds promptly upon receipt of those proceeds subject to Clause
11.12 (Prepayment elections). The
prepayments will be applied under Clause 11.10 (Application of prepayments).

(c)                                      Notwithstanding paragraph (b) above, no
prepayment of Disposal Proceeds shall be required if the Non-Leveraged Criteria
has been met.

 48
 

 

 

11.10           Application of mandatory
prepayments

(a)                                     Subject to paragraph (b) below a prepayment
made under Clause 11.8 (Equity Proceeds)
or 11.9 (Disposal Proceeds) shall
be applied as the Company directs unless such prepayment would cause the total
aggregate amount of all such prepayments in that financial year to exceed EUR
40,000,000 in which case the portion of such prepayment in excess of EUR
40,000,000 and all subsequent mandatory prepayments during that financial year
shall be applied pro rata to the
remaining scheduled principal repayments under the Term Facilities.

(b)                                     Notwithstanding paragraph (a) above, the
Company shall only be obliged to procure the prepayment of Loans from proceeds
raised by members of the Group that are not U.S. Companies towards Loans
borrowed by U.S. Borrowers and from proceeds raised by members of the Group
that are U.S. Companies towards Loans borrowed by non-U.S. Borrowers only
to the extent such prepayment would not cause any material adverse tax
consequences to the Group. The Company shall ensure that all transactions
related to the raising of Equity Proceeds and/or disposals are not structured
in such a way so that the limitations on guarantees set out in Clause 21 (Guarantee and Indemnity) or the provisions
of this paragraph (b) would operate in a way that would excuse the making of
any prepayment otherwise due under this Clause 11.

11.11           Restrictions

(a)                                     Any notice of cancellation or prepayment
given by any Party under this Clause 11 shall be irrevocable and, unless a
contrary indication appears in this Agreement, shall specify the date or dates
upon which the relevant cancellation or prepayment is to be made and the amount
of that cancellation or prepayment.

(b)                                     Any prepayment under this Agreement shall be
made together with accrued interest on the amount prepaid and Break Costs
without premium or penalty.

(c)                                      No Borrower may reborrow any part of a Term
Facility which is prepaid.

(d)                                     Unless a contrary indication appears in this
Agreement, any part of the Revolving Facility which is prepaid (other than
under Clause 11.8 (Equity  Proceeds) or Clause 11.9 (Disposal proceeds) may be reborrowed in
accordance with the terms of this Agreement.

(e)                                      The Borrowers shall not repay or prepay all
or any part of the Utilisations or cancel all or any part of the Commitments
except at the times and in the manner expressly provided for in this Agreement.

(f)                                       No amount of the Total Commitments cancelled
under this Agreement may be subsequently reinstated.

(g)                                      If the Facility Agent receives a notice under
this Clause 11 it shall promptly forward a copy of that notice to the Company
and the affected Lenders, as appropriate.

 49
 

 

 

11.12           Prepayment elections

(a)                                     Any prepayment under paragraph (b) of Clause
11.7 (Exit), Clause 11.8 (Equity Proceeds) or Clause 11.9 (Disposal proceeds) may, if the Company
gives the Facility Agent not less than 3 Business Days (or such shorter period
as the Majority Lenders may agree) prior written notice, be applied in
prepayment of a Loan on the last day of the Interest Period relating to that
Loan.

(b)                                     If the Company makes an election under
paragraph (a) above of this Clause 11.12 then that Loan will become due and
payable in the required amount on the last day of that Interest Period.

(c)                                      No election can be made by the Company under
paragraph (a) above and no election already made by the Company under that
paragraph shall apply (unless the Majority Banks otherwise agreed in writing)
if an Event of Default has occurred and is continuing.

(d)                                     The Facility Agent shall notify the Lenders
as soon as possible of any prepayment of any Facility A1 Loan or Facility A2
Loan to be made under Clause 11.4 (Voluntary
prepayment of Term Loans), paragraph (b) of Clause 11.7 (Exit), Clause 11.8 (Equity Proceeds) or Clause 11.9 (Disposal, proceeds).

11.13           Automatic Cancellation

(a)                                     If the Closing Date does not occur on or
prior to the last day of the Availability Period for the Term Facilities, then
all Facilities shall be automatically cancelled in full on that date.

(b)                                     The Revolving Commitments shall be cancelled
in full and all Revolving Utilisations repaid in full immediately upon the
repayment or prepayment in full of the Term Loans or cancellation in full of
the Term Facilities.

11.14           Restrictions on upstreaming
cash

(a)                                     If:

(i)                        any amount is required to be applied in prepayment or repayment of the
Facilities from Disposal Proceeds under Clause 11.9 (Disposal Proceeds) but, in order to be so applied, a member
of the Group has to make payments upstream or otherwise transfer moneys to
another a member of the Group to effect that prepayment or repayment; and

(ii)                     those moneys cannot be so upstreamed or transferred without:

(A)                 breaching
legal prohibitions preventing the recipient of the proceeds from making the
relevant prepayment or making the funds available to a member of the Group that
can make such prepayment; or

(B)                 a
member of the Group incurring a material cost or expense (including material
Taxes or other liabilities); and

(iii)                  The
Company (acting reasonably) has determined that such upstreaming or transfer
will present a material risk of liability for the member of the Group concerned
or its directors or officers,

 50
 

 

 

there will be no obligation to make that payment or
repayment until that impediment no longer applies.

(b)                                     Each Obligor will use all reasonable
endeavours:

(i)                        to overcome any such impediment; and

(ii)                     to use cash held by any other member of the Group to prepay an
equivalent amount of the Facilities where such would not be materially
prejudicial to the liquidity needs of the Group or the availability thereof to
members of the Group requiring cash resources and would not give rise to any of
the issues referred to in sub-paragraphs (a)(i) and (ii) above.

 51
 

 

 

SECTION
5

COSTS OF UTILISATION

12.                         Interest

12.1                  Calculation of interest

The rate of interest on each Loan for each Interest
Period is the percentage rate per annum which is the aggregate of the
applicable:

(a)                                     Margin;

(b)                                     LIBOR or, in relation to any Loan in euro,
EURIBOR; and

(c)                                      Mandatory Cost, if any.

12.2                  Payment of interest

The Borrower to which a Loan has been made shall pay
accrued interest on that Loan on the last day of each Interest Period (and, if
any Interest Period is longer than six Months, on the dates falling at six
Monthly intervals after the first day of that Interest Period).

12.3                  Margin Ratchet

(a)                                     Subject to paragraph (b) below and Clause
12.4 (Default Margin), if the
ratio of Consolidated Total Net Debt to Consolidated Adjusted EBITDA in respect
of the most recent Relevant Period (as defined in Clause 24 (Financial Covenants)) falls within one of
the ranges set out in column 1 of the margin grid table set out below then the
Margin in respect of Facility A1, Facility A2 and the Revolving Facility shall
be the percentage per annum set opposite the range into which that Relevant
Ratio falls.

	
  

  	
   

  	
  Column 2

  	
   

  
	
  Column 1

  Relevant Ratio

  	
   

  	
  Margin % per annum for Facility A1,

  A2 and Revolving Facility

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Greater than
  3.75:1

  	
   

  	
  0.90

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Equal to or less
  than 3.75:1 but greater than 3:1

  	
   

  	
  0.75

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Equal to or less
  than 3:1 but greater than 2.5:1

  	
   

  	
  0.60

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Equal to or less
  than 2.5:1 but greater than 2:1

  	
   

  	
  0.50

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Equal to or less than
  2:1

  	
   

  	
  0.40

  	
   

  

 

(b)                                     From the date falling 12 months after the
Closing Date any revised Margin provided for in this Clause 12.3 in relation to
each Loan will become effective on the date on which the relevant Compliance
Certificate is delivered to the Facility Agent.

 52
 

 

 

(c)                                      If the annual audited financial statements of
the Group and related Compliance Certificate received by the Facility Agent
show that a Margin or Commitment Fee reduction should not have occurred during
a certain period, the relevant Borrowers shall promptly pay to the Facility
Agent any amounts necessary to put the Facility Agent and the Lenders in the
position they would have been in had the Margin or Commitment Fee reduction not
occurred.

(d)                                     If the annual audited financial statements of
the Group and related Compliance Certificate received by the Facility Agent
show that a Margin or Commitment Fee reduction should have occurred during a
certain period the Margin or Commitment Fee for future Interest Periods, shall
be reduced by any amounts necessary to put the relevant Borrower in the
position they would have been in had the Margin and Commitment Fee reduction
occurred.

12.4                  Default Margin

Notwithstanding the terms of Clause 12.3 (Margin Ratchet), no reduction in the
Margin shall be effected whilst an Event of Default is continuing.  On the occurrence of an Event of Default, the
Margin shall immediately revert to 0.75% per annum.  On the date upon which such Event of Default
is remedied or waived by the Majority Lenders, the Margin shall be recalculated
by the Facility Agent by reference to the ratio of Consolidated Total Net Debt
to Consolidated Adjusted EBITDA set out in the most recent Compliance
Certificate delivered to the Facility Agent.

12.5                  Default Interest

(a)                                     If an Obligor fails to pay any amount payable
by it under a Finance Document on its due date, and if the Facility Agent,
acting on the instructions of the Majority Lenders, gives notice that the
default interest rate shall apply, such amount shall, subject to any increased
interest rate pursuant to paragraph (b) below, accrue interest or, insofar as
it relates to unpaid interest, shall give rise to a claim for lump sum damages
from the due date up to the date of actual payment (both before and after
judgment) at a rate which is one per cent higher than the rate which would have
been payable if the overdue amount had, during the period of non payment,
constituted a Loan in the currency of the overdue amount for successive
Interest Periods, each of a duration selected by the Facility Agent (acting
reasonably).  Any interest accruing under
this Clause 12.5 shall be immediately payable by the Obligor on demand by the
Facility Agent.

(b)                                     If any overdue amount consists of all or part
of a Loan which became due on a day which was not the last day of an Interest
Period relating to that Loan:

(i)                        the first Interest Period for that overdue amount shall have a duration
equal to the unexpired portion of the current Interest Period relating to that
Loan; and

(ii)                     the rate of interest applying to the overdue amount during that first
Interest Period shall be one per cent. higher than the rate which would have
applied if the overdue amount had not become due.

 53
 

 

 

(c)                                      Default interest (if unpaid) arising on an
overdue amount will be compounded with the overdue amount at the end of each Interest
Period applicable to that overdue amount but will remain immediately due and
payable.

12.6                  Notification of rates of
interest

The Facility Agent shall promptly notify the Lenders
and the relevant Borrower(s) of the determination of a rate of interest under
this Agreement.

13.                         Interest Periods and Terms

13.1                  Selection of Interest
Periods and Terms

(a)                                     A Borrower or the Company (on behalf of any
other Borrower) may select an Interest Period for a Loan in the Utilisation
Request for that Loan or (if the Loan is a Term Loan and has already been
borrowed) in a Selection Notice.

(b)                                     Each Selection Notice is irrevocable and must
be delivered to the Facility Agent by the Borrower (or the Company on behalf of
any other Borrower) to which that Term Loan was made not later than the
Specified Time.

(c)                                      If a Borrower (or the Company on behalf of
any other Borrower) fails to deliver a Selection Notice to the Facility Agent
in accordance with paragraph (b) above, the relevant Interest Period will,
subject to Clause 13.2 (Changes to Interest
Periods), be one Month.

(d)                                     Subject to this Clause 13, a Borrower (or the
Company on behalf of any other Borrower) may select an Interest Period of one,
two, three or six Months or any other period agreed between the Company and the
Facility Agent (acting on the instructions of the Majority Lenders). In
addition a Borrower (or the Company on its behalf) may select an Interest
Period of (in relation to Facility A) a period of less than one month if
necessary to ensure that there are Facility A1 Loans and Facility A2 Loans
(with an aggregate Base Currency Amount equal to or greater than the Facility
A1 Repayment Instalment or the Facility A2 Repayment Instalment) which have an
Interest Period ending on a Facility A1 Repayment Date or a Facility A2
Repayment Date as the case may be for the Borrowers to make the Facility A1
Repayment Instalment or the Facility A2 Repayment Instalment due on that date.

(e)                                      An Interest Period for a Loan shall not
extend beyond the Termination Date applicable to its Facility.

(f)                                       Each Interest Period for a Term Loan shall
start on the Utilisation Date or (if a Loan has already been made) on the last
day of its preceding Interest Period.

(g)                                      A Revolving Loan has one Interest Period
only.

(h)                                     Prior to the Syndication Date, Interest
Periods shall be one month or such other period as the Facility Agent and the
Company may agree and any Interest Period which would otherwise end during the
month preceding or extend beyond the Syndication Date shall end on the Syndication
Date.

 54
 

 

 

13.2                  Changes to Interest Periods

(a)                                     Prior to determining the interest rate for a
Facility A1 Loan or Facility A2 Loan, the Facility Agent may shorten an
Interest Period for any Facility A1 Loan or Facility A2 Loan to ensure that
there are sufficient Facility A1 Loans or Facility A2 Loans, as the case may be
(with an aggregate Base Currency Amount equal to or greater than the Facility
A1 Repayment Instalment or the Facility A2 Repayment Instalment) which have an
Interest Period ending on a Facility A1 Repayment Date or a Facility A2
Repayment Date, respectively) for the Borrowers to make the Facility A1
Repayment Instalment or the Facility A2 Instalment) due on that date.

(b)                                     If the Facility Agent makes any of the
changes to an Interest Period referred to in this Clause 13.2, it shall
promptly notify the Company and the Lenders.

13.3                  Consolidation of Facility A1
Loans and Facility A2 Loans

(a)                                     Subject to paragraph (b) below, if two or
more Interest Periods:

(i)                        relate to the same Facility;

(ii)                     end on the same date; and

(iii)                  are
made to the same Borrower,

those Loans will, unless that Borrower (or the Company
on its behalf) specifies to the contrary in the Selection Notice for the next
Interest Period, be consolidated into, and treated as, a single Loan under the
same  Facility on the last day of the
relevant Interest Period.

(b)                                     Subject to Clause 4.5 (Maximum number of Utilisations) and Clause
5.3 (Currency and amount) if a
Borrower (or the Company on its behalf) requests in a Selection Notice that a
Term Loan be divided into two or more Term Loans, that Term Loan will, on the
last day of its Interest Period, be so divided with Base Currency Amounts
specified in that Selection Notice, being an aggregate Base Currency Amount
equal to the amount of the Term Loan immediately before its division, having
taken into account any repayment to be made on that day.

14.                         Changes to the Calculation of
Interest

14.1                  Absence of quotations

Subject to Clause 14.2 (Market disruption), if EURIBOR or, if applicable, LIBOR is
to be determined by reference to the Reference Banks but a Reference Bank does
not supply a quotation by the Specified Time on the Quotation Day, the
applicable LIBOR or EURIBOR shall be determined on the basis of the quotations
of the remaining Reference Banks.

14.2                  Market disruption

(a)                                     If a Market Disruption Event occurs in
relation to a Loan for any Interest Period, then the rate of interest on each
Lender’s share of that Loan for the Interest Period shall be the rate per annum
which is the sum of:

 55
 

 

 

(i)                        the Margin;

(ii)                     the rate notified to the Facility Agent by that Lender as soon as
practicable and in any event before interest is due to be paid in respect of
that Interest Period, to be that which expresses as a percentage rate per annum
the cost to that Lender of funding its participation in that Loan from whatever
source it may reasonably select; and

(iii)                  the
Mandatory Cost, if any, applicable to that Lender’s participation in the Loan.

(b)                                     In this Agreement “Market Disruption Event” means:

(i)                        at or about noon on the Quotation Day for the relevant Interest Period
the Screen Rate not being available and none or only one of the Reference Banks
supplying a rate to the Facility Agent to determine LIBOR or, if applicable,
EURIBOR for the relevant currency and Interest Period; or

(ii)                     before close of business in London on the Quotation Day for the
relevant Interest Period, the Facility Agent receiving notifications from a
Lender or Lenders (whose participations in a Loan exceed 50 per cent. of that
Loan) that the cost to it of obtaining matching deposits in the Relevant
Interbank Market would be in excess of LIBOR or, if applicable, EURIBOR.

14.3                  Alternative basis of
interest or funding

(a)                                     If a Market Disruption Event occurs and the
Facility Agent or the Company so requires, the Facility Agent and the Company
shall enter into negotiations (for a period of not more than thirty days) with
a view to agreeing a substitute basis for determining the rate of interest.

(b)                                     Any alternative basis agreed pursuant to
paragraph (a) above shall, with the prior consent of all the Lenders and the
Company, be binding on all Parties.

14.4                  Break Costs

(a)                                     Subject to paragraph (b) below, each Borrower
shall, within three Business Days of demand by a Finance Party, pay to that
Finance Party its Break Costs attributable to all or any part of a Loan or
Unpaid Sum being paid by that Borrower on a day other than the last day of an
Interest Period for that Loan or Unpaid Sum.

(b)                                     Subject to paragraph (a) above, in order to
avoid Break Costs arising on mandatory prepayments, unless an Event of Default
is outstanding, the Company shall be entitled to defer each Mandatory
Prepayment in respect of Disposal Proceeds and Equity Proceeds until the end of
the Interest Periods which are current at the date upon which the repayment
would otherwise become due.

(c)                                      Each Lender shall, as soon as reasonably
practicable after a demand by the Facility Agent, provide a certificate
confirming the amount and basis of calculation of its Break Costs for any
Interest Period in which they accrue.

 56
 

 

 

15.                         Fees

15.1                  Commitment fee

(a)                                     The Company shall pay to the Facility Agent
(for the account of each Lender) a fee in the Base Currency computed at the
rate of (during the period commencing on (and including) the Closing Date and
ending on the last day of the relevant Availability Period) a rate equal to 40
per cent. of the applicable Margin per annum on that Lender’s Available
Commitment under the Revolving Facility for the Availability Period.

(b)                                     The accrued commitment fee is payable:

(i)                        on the last day of each successive period of three Months which ends
during the relevant Availability Period;

(ii)                     on the last day of the relevant Availability Period; and

(iii)                  on
the cancelled amount of the relevant Lender’s Commitment at the time the
cancellation is effective.

15.2                  Upfront fee

The Company shall pay to the Mandated Lead Arrangers
an upfront fee in the amount and at the times agreed in a Fee Letter.

15.3                  Facility Agency fee

The Company shall pay to (or procure payment to) the
Facility Agent (for its own account) a facility agency fee in the amount and at
the times agreed in a Fee Letter.

 57
 

 

 

SECTION
6

ADDITIONAL PAYMENT OBLIGATIONS

16.                         Tax Gross Up and Indemnities

16.1                  Definitions

In this Clause 16:

“Protected Party”
means a Finance Party which is or will be, for or on account of Tax, subject to
any liability or required to make any payment in relation to a sum received or
receivable (or any sum deemed for the purposes of Tax to be received or
receivable) under a Finance Document.

“Qualifying Lender”
means:

(a)                                     a
Lender which is incorporated or resident or acting out of a Facility Office in
a member state of the European Union; or

(b)                                     a
Treaty Lender; or

(c)                                      otherwise
entitled to receive interest payments under this Agreement from that Borrower
without any Tax Deduction.

“Tax Credit”
means a credit against, relief or remission for, or repayment of, any Tax.

“Tax Deduction”
means a deduction or withholding for or on account of Tax from a payment under
a Finance Document.

“Tax Payment”
means either the increase in a payment made by an Obligor to a Finance Party
under Clause 16.2 (Tax gross up)
or a payment under Clause 16.3 (Tax
indemnity).

“Treaty Lender”
means a Lender which:

(a)                                     is
treated as a resident of a Treaty State for the purposes of the Treaty;

(b)                                     does
not carry on a business in the Federal Republic of Germany through a permanent
establishment with which that Lender’s participation in the Loan is effectively
connected.

“Treaty State”
means a jurisdiction having a double taxation agreement (a “Treaty”) with the Federal Republic of
Germany which makes provision for full exemption from tax imposed by the
Federal Republic of Germany on interest.

Unless a contrary indication appears, in this Clause
16 a reference to “determines” or “determined” means a determination made in
the absolute discretion of the person making the determination.

16.2                  Tax gross up

(a)                                     Subject to paragraph (b) below:

(i)                        each Obligor shall make all payments to be made by it without any Tax
Deduction, unless a Tax Deduction is required by law;

 58
 

 

 

(ii)                     the Company shall promptly upon becoming aware that an Obligor must
make a Tax Deduction (or that there is any change in the rate or the basis of a
Tax Deduction) notify the Facility Agent accordingly.  Similarly, a Lender or the Issuing Bank shall
notify the Facility Agent on becoming so aware in respect of a payment to that
Lender or the Issuing Bank.  If the Facility
Agent receives such notification from a Lender or Issuing Bank it shall notify
the Company and that Obligor;

(iii)                  if
a Tax Deduction is required by law to be made by an Obligor the amount of the
payment due from that Obligor shall be increased to an amount which (after
making any Tax Deduction) leaves an amount equal to the payment which would
have been due if no Tax Deduction had been required;

(iv)                 an
Obligor is not required to make an increased payment to a Lender under
paragraph (iii) above for a Tax Deduction in respect of tax imposed by the
relevant tax authorities from a payment of interest on a Loan, if on the date
on which the payment falls due the payment could have been made to the relevant
Lender without a Tax Deduction if it was a Qualifying Lender, but on that date
that Lender is not or has ceased to be a Qualifying Lender other than as a
result of any change after the date it became a Lender under this Agreement in
(or in the interpretation, administration, or application of) any law, or any
published practice or concession of any relevant taxing authority;

(v)                    if an Obligor is required to make a Tax Deduction, that Obligor shall
make that Tax Deduction and any payment required in connection with that Tax
Deduction within the time allowed and in the minimum amount required by law;
and

(vi)                 within
thirty days of making either a Tax Deduction or any payment required in
connection with that Tax Deduction, the Obligor making that Tax Deduction shall
deliver to the Facility Agent for the Finance Party entitled to the payment
evidence reasonably satisfactory to that Finance Party that the Tax Deduction
has been made or (as applicable) any appropriate payment paid to the relevant
taxing authority.

(b)                                     No such additional amounts referred to in
paragraph (a) above shall be required to be paid to any Lender with respect to
any US withholding taxes that would not have been imposed but for the failure
to comply with paragraph (a) of Clause 16.7 (Nil
Rate Treaty Lender and US Lender).

16.3                  Tax indemnity

(a)                                     The Company shall (within three Business Days
of demand by the Facility Agent) pay (or procure payment) to a Protected Party
an amount equal to the loss, liability or cost which that Protected Party
determines will be or has been (directly or indirectly) suffered for or on
account of Tax by that Protected Party in respect of a Finance Document.

 59
 

 

 

(b)                                     Paragraph (a) above shall not apply:

(i)                        with respect to any Tax assessed on a Finance Party:

(A)                 under
the law of the jurisdiction in which that Finance Party is incorporated or, if
different, the jurisdiction (or jurisdictions) in which that Finance Party is
treated as resident for tax purposes; or

(B)                 under
the law of the jurisdiction in which that Finance Party’s Facility Office is
located in respect of amounts received or receivable in that jurisdiction,

if that Tax is imposed on or calculated by reference
to the net income received or receivable (but not any sum deemed to be received
or receivable) by that Finance Party; and

(ii)                     to the extent a loss, liability or cost:

(A)                 is
compensated for by an increased payment under Clause 16.2 (Tax gross up); or

(B)                 would
have been compensated for by an increased payment under Clause 16.2 (Tax gross up) but was not so compensated solely because
one of the exclusions in sub-paragraph (iv) of Clause 16.2(a) (Tax gross up) and in Clause 16.2(b) applied.

(c)                                      A Protected Party making, or intending to
make a claim pursuant to paragraph (a) above shall promptly notify the Facility
Agent of the event which will give, or has given, rise to the claim, following
which the Facility Agent shall notify the Company.

(d)                                     A Protected Party shall, on receiving a
payment from an Obligor under this Clause 16.3, notify the Facility Agent.

16.4                  Tax Credit

If an Obligor makes a Tax Payment other than with
respect to United States Taxes and the relevant Finance Party determines in
good faith that:

(a)                                     a Tax Credit is attributable to that Tax
Payment; and

(b)                                     that Finance Party has obtained, utilised and
retained that Tax Credit,

the Finance Party shall pay an amount to the Obligor
which that Finance Party determines will leave it (after that payment) in the
same after Tax position as it would have been in had the Tax Payment not been
made by the Obligor.

16.5                  Stamp Taxes

The Company shall pay and, within three Business Days
of demand, indemnify each Finance Party and each Mandated Lead Arranger against
any cost, loss or liability that Finance Party or any Mandated Lead Arranger
incurs in relation to all stamp duty, registration and other similar Taxes or
fees payable in respect of any Finance Document.

 60

 

16.6       Value
Added Tax

(a)             All consideration expressed to be payable
under a Finance Document by any Party to a Finance Party shall be deemed to be
exclusive of any VAT. If VAT is chargeable on any supply made by any Finance
Party to any Party in connection with a Finance Document, that Party shall pay
to the Finance Party (in addition to and at the same time as paying the
consideration) an amount equal to the amount of the VAT against delivery of a
invoice which meets the respective criteria for VAT refund.

(b)            Where a Finance Document requires any Party
to reimburse a Finance Party for any costs or expenses, that Party shall also
at the same time pay and indemnify that Finance Party against all VAT incurred
by the Finance Party in respect of the costs or expenses to the extent that the
Finance Party reasonably determines that it is not entitled to credit or
repayment of the VAT. The respective Finance Party shall reimburse the
respective Party any VAT refunded.

16.7       Nil Rate
Treaty Lender and US Lender

(a)             Each Lender making a loan to a U.S. Borrower
that is not a United States Person (as such term is defined in Section
7701(a)(30) of the Internal Revenue Code) for U.S. federal income tax purposes
(a “Non US Lender”) shall deliver to Facility Agent for
transmission to U.S. Borrower, on or prior to the Closing Date (in the case of
each Lender listed on the signature pages hereof on the Closing Date) or on or
prior to the date of the Transfer Certificate pursuant to which it becomes a
Lender (in the case of each other Lender), and at such other times as may be
necessary in the determination of U.S. Borrower or Facility Agent (each in the
reasonable exercise of its discretion), (i) two original copies of Internal
Revenue Service Form W 8BEN, W 8ECI and/or W-8IMY (or any successor forms),
properly completed and duly executed by such Lender, and such other
documentation required under the Internal Revenue Code or reasonably requested
by U.S. Borrower to establish that such Lender is not subject to deduction or
withholding of United States federal income tax with respect to any payments to
such Lender of principal, interest, fees or other amounts payable under any of
the Finance Documents, or (ii) if such Lender is not a “bank” or other Person
described in Section 881(c)(3) of the Internal Revenue Code and cannot deliver
Internal Revenue Service Form W 8ECI pursuant to (i) above, a Certificate re
Non Bank Status together with two original copies of Internal Revenue Service
Form W 8BEN and/or W-8IMY (or any successor form), properly completed and duly
executed by such Lender, in each case together with such other documentation
required under the Internal Revenue Code or reasonably requested by U.S.
Borrower to establish that such Lender is not subject to deduction or withholding
of United States federal income tax with respect to any payments to such Lender
of interest payable under any of the Finance Documents.  If any Lender provides an Internal Revenue
Service Form W-8IMY, such Lender must also attach the additional documentation
that must be transmitted with Internal Revenue Service Form W-8IMY, including
the appropriate forms described in this Clause 16.7.

 61
 

 

(b)            Each Lender making a Loan to U.S. Borrower
that is a United States person (as such term is defined in Section 7701(a)(30)
of the Internal Revenue Code) and is not a person whose name indicates that it
is an “exempt recipient” (as such term is defined in Section 1.6049-4(c)(ii) of
the United States Treasury Regulations) shall deliver to U.S. Borrower and the
Facility Agent on or prior to the Closing Date (in the case of each Lender
listed on the signature pages hereof on the Closing Date) or on or prior to the
date of the Transfer Certificate pursuant to which it becomes a Lender (in the
case of each other Lender), and at such other times as may be necessary in the
determination of U.S. Borrower and the Facility Agent (each in the reasonable
exercise of its discretion) two original copies of Internal Revenue Service
Form W-9 (or successor forms).

(c)             Each Lender required to deliver any forms,
certificates or other evidence with respect to United States federal income tax
withholding matters pursuant to this Section hereby agrees, from time to time
after the initial delivery by such Lender of such forms, certificates or other
evidence, whenever a lapse in time or change in circumstances renders such
forms, certificates or other evidence obsolete or inaccurate in any material
respect, that such Lender shall promptly deliver to the Facility Agent for
transmission to U.S. Borrower two new original copies of Internal Revenue
Service Form W-8BEN, W-8ECI, W-8IMY or W-9, or a Certificate re Non Bank Status
and two original copies of Internal Revenue Service Form W-8BEN or W-8IMY (or
any successor form), as the case may be, properly completed and duly executed
by such Lender, and such other documentation required under the Internal
Revenue Code or reasonably requested by U.S. Borrower to confirm or establish
that such Lender is not subject to deduction or withholding of United States
federal income tax with respect to payments to such Lender under the Finance
Documents, or notify the Facility Agent and U.S. Borrower of its inability to
deliver any such forms, certificates or other evidence.

16.8       German
Borrowers

(a)             The Facility Agent and each of the Original
Lenders undertake to deliver to each German Borrower as soon as reasonably
practicable after the Facilities have been made available to such German
Borrower and subject to compliance by the German Borrowers with paragraph (c) below,
a complete letter in the form of the sample back-to-back certificate as
published by the German Federal Ministry of Finance (Bundesfinanzministerium) on 20 October 2005 (IV B7 – S2742a –
43/05) as attached as Schedule 14 (Form of
Certificate), or in the form of any successor sample form as may be
required by the German tax authorities (the “Certificate”). The
Facility Agent (acting on behalf of the Lenders) shall send to the relevant
German Borrower upon request of such German Borrower an updated Certificate as
soon as reasonably practicable (1) upon any amendment to the Facilities or
change in the security or guarantees granted in relation to the Facilities, (2)
if so required by the relevant German Borrower for tax purposes. If the German
tax authorities will not accept a certificate issued by the Facility Agent,
each Lender will issue a certificate individually.

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(b)            Each German Borrower may disclose the
existence and contents of any Certificate to its professional advisers, its
affiliated companies (verbundene Unternehmen)
and to any tax, regulatory or governmental authority asserting jurisdiction
over it.

(c)             For purposes of enabling the Facility Agent
to issue a Certificate on behalf of the Lender, the respective German Borrower
will provide the Facility Agent with a list of guarantees, disposal
restrictions and other relevant information as required pursuant to the sample
Certificate, together with any written request for the issuance of a
Certificate.

(d)            Each Obligor and each Lender undertakes to
inform the Facility Agent without undue delay if it becomes aware of any
incorrectness or incompleteness of a Certificate given or to be given from time
to time pursuant to paragraph (a) above.

(e)             It is the common understanding of the Parties
that:

(i)        each Certificate is given by the Facility Agent for the purpose of
delivery to the competent tax authorities of the German Borrowers to assist the
German Borrowers in the administration of their tax affairs and not for any
other purpose;

(ii)       the Facility Agent and the Lenders are not responsible for examining
the German Borrowers’ tax position and that the Certificates do not guarantee
the achievement or amount of a specific result or conclusion for tax purposes
or the suitability of a Certificate to provide the counterproof as set out in
the relevant German tax decrees;

(iii)      each Certificate will list all guarantees irrespective of whether they
can be harmful under section 8a of the KStG and will only be a declaration of
fact (Wissenserklärung) and there
will be no further obligations of the Facility Agent and/or the Lenders and no
restrictions of their rights under the Finance Documents as a result of the
issuance of any Certificate;

(iv)      each Certificate is addressed to and is solely for the benefit of the
German Borrowers in relation to this Agreement; and

(v)       no Certificate creates third party rights of any kind.

(f)             It is the common understanding of the Parties
that no Party is providing any legal and/or tax advice to any other Party with
respect to this Agreement, in particular with respect to the application of
section 8a of the KStG and the interpretation of the relevant German tax
decrees, and that it is the responsibility of each Party, in particular each
German Borrower, to consult its own legal and tax advisers.

(g)            To the extent the German tax authorities
require a German Borrower to provide, in addition to the Certificates, further
evidence or information, the Facility Agent and/or the Lenders shall consider
in good faith to what extent it is 

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reasonably practical for them to support the relevant German Borrower
in that regard.

(h)            Reasonable costs and expenses incurred by the
Facility Agent or any Lender (unless only the Facility Agent reviews and issues
the Certificate without the involvement of the Lender) in connection with the
provisions of a Certificate will be borne by the German Borrowers.  Neither the Facility Agent nor any Lender
shall be liable as a result of the delivery of a Certificate.  Each German Borrower agrees to indemnify the Facility
Agent and each Lender with respect to potential claims made against the
Facility Agent or any Lender with respect to any Certificate by any third party
(other than claims arising by reason of gross negligence by the Facility Agent
or that Lender).  No Obligor will raise
any claims against the Facility Agent or any Lender based on, or in connection
with, a (correct/complete or incorrect/incomplete) Certificate, except in cases
where the Facility Agent or the Lenders are in breach of their undertaking to
deliver the Certificate in accordance with this Clause 16.9, in which event
each Lender or the Facility Agent, as the case may be, shall only be severally
(and not jointly) liable for its own breach (and the Facility Agent shall not
be liable for a breach of the undertaking by the Lenders).

(i)              For the avoidance of doubt:

(i)        none of the Facility Agent nor any Lender shall be obliged to disclose
to any other person any confidential information regarding its business or any
other information relating to its tax affairs or tax computations (including,
without limitation, its tax returns or its calculations) as a result of the
operation of this clause;

(ii)       none of the Facility Agent nor any Lender shall be obliged to deliver
any information or make any statements pursuant to this clause if by doing so
it would contravene the terms of any applicable law or any notice, direction or
requirement of any governmental or regulatory authority (whether or not having
the force of law); and

(iii)      each German Borrower may disclose the existence and contents of a
Certificate to its professional advisers, its affiliates, as required by
applicable law or regulation and to any tax, regulatory or other governmental
authority asserting jurisdiction over it.

(j)              Each Obligor acknowledges that the Facility
Agent may only deliver a Certificate if and to the extent any Obligor has
released the Facility Agent from its general obligation to maintain
confidentiality and herewith releases the Facility Agent and each Lender from
the banking confidentiality (Bankgeheimnis)
and any other confidentiality obligation for purposes of the issuance and
delivery of the Certificates solely with respect to such information that is
required to be included in the Certificate, and solely vis-à-vis the other Obligors, the tax
authorities and the other Finance Parties. 
If the Facility Agent has not been released from such banking
confidentiality and other confidentiality obligations by any person providing a
guarantee to secure any 

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liabilities of the relevant German Borrower, the Certificates will only
state that further guarantees have been granted.

17.         INCREASED COSTS

17.1       Increased
costs

(a)             Subject to Clause 17.3 (Exceptions) the Company shall, within
three Business Days of a demand by the Facility Agent, pay for the account of a
Finance Party the amount of any Increased Costs incurred by that Finance Party
or any of its Affiliates as a result of (i) the introduction of or any change
in (or in the interpretation, administration or application of) any law or
regulation or (ii) compliance with any law or regulation made after the date of
this Agreement.

(b)            In this Agreement “Increased Costs” means:

(i)        a reduction in the rate of return from a Facility or on a Finance Party’s
(or its Affiliate’s) overall capital;

(ii)       an additional or increased cost; or

(iii)      a reduction of any amount due and payable under any Finance Document,

which is incurred or
suffered by a Finance Party or any of its Affiliates to the extent that it is
attributable to that Finance Party having entered into its Commitments or an
Ancillary Commitment or funding or performing its obligations under any Finance
Document or Bank Guarantee.

17.2       Increased
cost claims

(a)             A Finance Party intending to make a claim
pursuant to Clause 17.1 (Increased costs)
shall notify the Facility Agent of the event giving rise to the claim,
following which the Facility Agent shall promptly notify the Company.

(b)            Each Finance Party shall, as soon as
practicable after a demand by the Facility Agent, provide a certificate
confirming the amount of its Increased Costs together with reasonable details
of the basis of calculation.

17.3       Exceptions

(a)             Clause 17.1 (Increased
costs) does not apply to the extent any Increased Cost is:

(i)        attributable to a Tax Deduction required by law to be made by an
Obligor; and

(ii)       compensated for by Clause 16.3 (Tax
indemnity) (or would have been compensated for under Clause 16.3 (Tax indemnity) but was not so compensated
solely because any of the exclusions in paragraph (b) of Clause 16.3 (Tax indemnity) applied); or

(iii)      compensated for by the payment of the Mandatory Cost; or

(iv)      attributable to the wilful breach by the relevant Finance Party or its
Affiliates of any law or regulation.

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(b)            In this Clause 17.3, a reference to a “Tax Deduction” has the same meaning given to the term in
Clause 16.1 (Definitions).

18.         OTHER INDEMNITIES

18.1       Currency
indemnity

(a)             If any sum due from an Obligor under the
Finance Documents (a “Sum”), or any order, judgment or award given or
made in relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another
currency (the “Second
Currency”) for the purpose
of:

(i)        making or filing a claim or proof against that Obligor; or

(ii)       obtaining or enforcing an order, judgment or award in relation to any
litigation or arbitration proceedings,

that Obligor shall as an
independent obligation, within three Business Days of demand, indemnify each
Finance Party and each Mandated Lead Arranger to whom that Sum is due against
any cost, loss or liability arising out of or as a result of the conversion
including any discrepancy between (A) the rate of exchange used to convert that
Sum from the First Currency into the Second Currency and (B) the rate or rates
of exchange available to that person at the time of its receipt of that Sum.

(b)            Each Obligor waives any right it may have in
any jurisdiction to pay any amount under the Finance Documents in a currency or
currency unit other than that in which it is expressed to be payable.

18.2       Other
indemnities

The Company shall (or shall
procure that an Obligor will), within three Business Days of demand, indemnify
each Finance Party and each Mandated Lead Arranger against any cost, loss or
liability incurred by that Finance Party or Mandated Lead Arranger as a result
of:

(a)             the occurrence of any Event of Default;

(b)            a failure by an Obligor to pay any amount due
under a Finance Document on its due date, including without limitation, any
cost, loss or liability arising as a result of Clause 31 (Sharing among the Finance Parties);

(c)             funding, or making arrangements to fund, its
participation in a Utilisation requested by a Borrower in a Utilisation Request
but not made by reason of the operation of any one or more of the provisions of
this Agreement (other than by reason of default or negligence by that Finance
Party alone);

(d)            issuing or making arrangements to issue a
Bank Guarantee requested by a Borrower in a Utilisation Request but not issued
by reason of the operation of any one or more of the provisions of this
Agreement; or

(e)             a Utilisation (or part of a Utilisation) not
being prepaid in accordance with a notice of prepayment given by a Borrower.

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18.3       Indemnity
to the Facility Agent

The Company shall (or shall procure
that an Obligor will) promptly indemnify the Facility Agent against any cost,
loss or liability incurred by the Facility Agent (acting reasonably) as a
result of:

(a)             investigating any event which it reasonably
believes is a Default;

(b)            entering into or performing any foreign
exchange contract for the purposes of paragraph (b) of Clause 32.9 (Change of Currency); or

(c)             acting or relying on any notice, request or
instruction which it reasonably believes to be genuine, correct and
appropriately authorised.

19.         MITIGATION BY THE LENDERS

19.1       Mitigation

(a)             Each Finance Party shall, in consultation
with the Company, take all reasonable steps to mitigate any circumstances which
arise and which would result in any amount becoming payable under or pursuant
to, or cancelled pursuant to, any of Clause 11.1 (Illegality of a Lender), Clause 16 (Tax Gross up and Indemnities) or Clause 17
(Increased Costs) or paragraph 3
of Schedule 4 (Mandatory Cost Formulae)
including (but not limited to) transferring its rights and obligations under
the Finance Documents to another Affiliate or Facility Office.

(b)            Paragraph (a) above does not in any way limit
the obligations of any Obligor under the Finance Documents.

19.2       Limitation
of liability

(a)             The Company shall (or shall procure that an
Obligor will) indemnify each Finance Party for all costs and expenses
reasonably incurred by that Finance Party as a result of steps taken by it
under Clause 19.1 (Mitigation).

(b)            A Finance Party is not obliged to take any
steps under Clause 19.1 (Mitigation)
if, in the opinion of that Finance Party (acting reasonably), to do so might be
prejudicial to it.

20.         COSTS AND EXPENSES

20.1       Transaction
expenses

The Company shall within 5
Business Days of demand, but not prior to the Closing Date, pay (or shall
procure that an Obligor will pay) the Facility Agent and the Mandated Lead
Arrangers the amount of all costs and expenses (including legal fees)
reasonably incurred by any of them (but subject to any caps agreed) in
connection with the negotiation, preparation, printing, execution, syndication
and perfection of:

(a)             this Agreement and any other documents
referred to in this Agreement; and

(b)            any other Finance Documents executed after
the date of this Agreement.

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20.2       Amendment
costs

If (a) an Obligor requests
an amendment, waiver or consent (for the avoidance of doubt including any
amendment to effect an Incremental Loan) or (b) an amendment is required
pursuant to Clause 32.9 (Change of currency),
the Company shall, within five Business Days of demand, reimburse (or procure
reimbursement of) each of the Facility Agent for the amount of all costs and
expenses (including legal fees) reasonably incurred by the Facility Agent in
responding to, evaluating, negotiating or complying with that request or
requirement.

20.3       Enforcement
and preservation costs

The Company shall, within
three Business Days of demand, pay (or procure payment) to each Finance Party
and each Mandated Lead Arranger the amount of all costs and expenses (including
legal fees) reasonably incurred by that Finance Party or Mandated Lead Arranger
in connection with the enforcement of or the preservation of any rights, powers
and remedies under, any Finance Document.

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SECTION 7

GUARANTEE

21.         GUARANTEE AND INDEMNITY

21.1       Guarantee
and indemnity

Each Guarantor irrevocably
and unconditionally jointly and severally:

(a)             guarantees to each Finance Party punctual
performance by each Borrower (other than itself) of all that Borrower’s
obligations under the Finance Documents;

(b)            undertakes with each Finance Party that
whenever a Borrower does not pay any amount when due under or in connection
with any Finance Document, that Guarantor shall immediately on demand pay that
amount as if it was the principal obligor; and

(c)             indemnifies each Finance Party immediately on
demand against any cost, loss or liability suffered by that Finance Party if
any obligation guaranteed by it is or becomes unenforceable, invalid or
illegal.  The amount of the cost, loss or
liability shall be equal to the amount which that Finance Party would otherwise
have been entitled to recover,

provided
that no U.S. Group
Company shall be required to grant a guarantee in respect of any part of the
Facilities borrowed by members of the Group which are not U.S. Group Companies
and no Group company incorporated outside of the United States of America shall
be required to grant a guarantee in respect of any part of the Facilities
borrowed by U.S. Group Companies.

21.2       Continuing
Guarantee

This guarantee is a
continuing guarantee and will extend to the ultimate balance of sums payable by
any Obligor under the Finance Documents, regardless of any intermediate payment
or discharge in whole or in part.

21.3       Reinstatement

If any payment by an Obligor
or any discharge given by a Finance Party (whether in respect of the
obligations of any Obligor or any security for those obligations or otherwise)
is avoided or reduced as a result of insolvency or any similar event:

(a)             the liability of each Obligor shall continue
as if the payment, discharge, avoidance or reduction had not occurred; and

(b)            each Finance Party shall be entitled to
recover the value or amount of that security or payment from the Obligor, as if
the payment, discharge, avoidance or reduction had not occurred.

21.4       Waiver of
defences

The obligations of each
Guarantor under this Clause 21 will not be affected by any act, omission,
matter or thing which, but for this Clause 21, would reduce, release or
prejudice any of its obligations under this Clause 21 (without limitation and
whether or not known to it or any Finance Party) including:

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(a)             any time, waiver or consent granted to, or
composition with, any Obligor or other person;

(b)            the release of any other Obligor or any other
person under the terms of any composition or arrangement with any creditor of
any member of the Group;

(c)             the taking, variation, compromise, exchange,
renewal or release of, or refusal or neglect to perfect, take up or enforce,
any rights against, or security over assets of, any Obligor or other person or
any non presentation or non observance of any formality or other requirement in
respect of any instrument or any failure to realise the full value of any
security;

(d)            any incapacity or lack of power, authority or
legal personality of or dissolution or change in the members or status of an
Obligor or any other person;

(e)             any amendment (however fundamental) or
replacement of a Finance Document or any other document or security;

(f)             any unenforceability, illegality or
invalidity of any obligation of any person under any Finance Document or any
other document or security; or

(g)            any insolvency or similar proceedings.

21.5       Immediate
recourse

Each Guarantor waives any
right it may have of first requiring any Finance Party (or any agent on its
behalf) to proceed against or enforce any other rights or security or claim
payment from any person before claiming from that Guarantor under this Clause
21.  This waiver applies irrespective of
any law or any provision of a Finance Document to the contrary.

21.6       Appropriations

Until all amounts which may
be or become payable by the Obligors under or in connection with the Finance
Documents have been irrevocably paid in full, each Finance Party may, to the
extent to do so is reasonable in the circumstances:

(a)             refrain from applying or enforcing any other
monies, security or rights held or received by that Finance Party (or any
trustee or agent on its behalf) in respect of those amounts, or apply and
enforce the same in such manner and order as it sees fit (whether against those
amounts or otherwise) and no Guarantor shall be entitled to the benefit of the
same; and

(b)            hold in an interest bearing suspense account
any monies received from any Guarantor or on account of any Guarantor’s
liability under this Clause 21.

21.7       Deferral
of Guarantor’s rights

Until all amounts which may
be or become payable by the Obligors under or in connection with the Finance
Documents have been irrevocably paid in full and unless the Facility Agent
otherwise directs, no Guarantor will exercise any rights which it may have by
reason of performance by it of its obligations under the Finance Documents:

(a)             to be indemnified by an Obligor;

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(b)            to claim any contribution from any other
guarantor of any Obligor’s obligations under the Finance Documents; and/or

(c)             to take the benefit (in whole or in part and
whether by way of subrogation or otherwise) of any rights of the Finance
Parties under the Finance Documents or of any other guarantee or security taken
pursuant to, or in connection with, the Finance Documents by any Finance Party.

21.8       Additional
security

This guarantee is in
addition to and is not in any way prejudiced by any other security now or
subsequently held by any Finance Party.

21.9       Limitation
on Payment Obligations by German Guarantors and limitation regarding LTIBRs

(a)             The Finance Parties’ agree, other than in
accordance with the procedure set out in this Clause 21.9, not to enforce any
payment obligation under or in connection with the Finance Documents (other
than a payment obligation of a German Obligor (as defined below) or of any
direct or indirect subsidiary of such German Obligor under the Term Facilities
or the Revolving Facility made available to such German Obligor or such
subsidiary) against an Obligor organised as a limited liability company (GmbH) in Germany (a “German Obligor”), to the extent that the enforcement would
otherwise lead to the situation that the German Obligor did not have sufficient
net assets (Nettovermögen),
calculated in accordance with the jurisprudence from time to time of the German
Federal Supreme Count (Bundesgerichtshof)
or absent such jurisprudence, the jurisprudence of the Higher Regional Court (Oberlandesgericht) or Regional Courts (Landgericht) in the district of the
relevant German Obligor relating to protection of liable capital under sections
30 and 31 of the German Limited Liability Companies Act (GmbH-Gesetz)) to maintain its stated share
capital (Stammkapital) or
increased an existing shortage of its stated share capital) provided that for the purposes of the calculation of the
enforceable amount, if any, the following balance sheet items shall be adjusted
as follows:

(i)        the amount of any increase of stated share capital (Stammkapital) of the German Obligor that
has been effected after the date hereof shall be deducted from the stated share
capital unless such increase is (x) required by law or envisaged in the
Structure Memorandum, or (y) matched by a corresponding increase in the net
assets of the relevant Obligor, or (z) made with the consent of the Facility
Agent (such consent not to be unreasonably withheld).  For the avoidance of doubt, increasing the
capital reserves (Rücklagen) as
referred to in Section 266 para. 3, items II. and III. of the German Commercial
Code (Handelsgesetzbuch - HGB) of
any German Guarantor shall not be restricted (and shall not require any
adjustments to the stated share capital) by virtue of this paragraph; and/or

(ii)       any amount of mandatory reserves (Rücklagen)
resulting from a decrease of registered share capital (Kapitalherabsetzung) and any amount of 

 71
 

 

public subsidies (Subventionen und
andere öffentliche Beihilfen) received after the date hereof which
are subject to an unfulfilled commitment as to their use shall be added to the
registered share capital; and/or

(iii)      loans provided after the date hereof to the German Obligor, insofar
such loans qualify as equity under the applicable accounting principles and
which do not have to be shown as liabilities on the German Obligor’s balance
sheet, shall be disregarded; and/or

(iv)      to the extent the enforcement of the guarantee would deprive the German
Obligor of the ability to fulfil its obligations to third parties (incurred,
whether on a contingent or non-contingent basis, at the time of enforcement or
to continue its business, then, for the determination of net assets, the assets
of the German Obligor shall be calculated at the lesser of their book value (Buchwert) and their realisation value
assuming a negative prognosis for the business continuance (Liquidationswert bei negativer Fortführungsprognose);
and/or

(v)       loans and other contractual liabilities incurred by the German Obligor
in violation of the provisions of any of the Finance Documents shall be
disregarded to the extent such violation can be attributed to wilful misconduct
of the managing director (Geschäftsführer)
of the German Obligor.

(b)            The limitations set out in paragraph (a) of
this Clause 21.9 only apply if and to the extent that:

(i)        within twenty (20) Business Days following the demand against a German
Obligor by the Facility Agent (acting on behalf of the Finance Parties) (the “Envisaged Enforcement Date”), the managing director(s) on behalf of
such German Obligor has confirmed in writing to the Facility Agent (x) to what
extent the payment obligation relates to a primary liability which is an
up-stream or cross-stream liability as described in paragraph (a), and (y)
which amount of such up-stream and/or cross-stream liability cannot be enforced
as it would exceed the net assets of the German Obligor, and such confirmation
is supported by conclusive evidence satisfactory to the Facility Agent,
including in particular, pro forma interim
financial statements as of the Envisaged Enforcement Date (the “Management Determination”), and the Facility Agent has not contested
the Management Determination; or

(ii)       within 40 business days from the date the Facility Agent (acting on
behalf of the Finance Parties) has contested the Management Determination, the
Facility Agent receives a determination by auditors of international standard
and reputation (the “Auditor’s
Determination”) appointed by
the German Obligor, of the amount of the net assets on the envisaged
enforcement date.

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(c)             If the Facility Agent disagrees with the
Auditor’s Determination, it shall be entitled to further pursue their claims
and/or rights (if any) under the dispute solutions agreed upon and, in
particular, to contest the Auditor’s Determination in court, and the German
Obligor shall be entitled to prove that this amount is necessary for maintaining
its stated share capital (calculated as of the date the demand for payment
and/or enforcement was made).

(d)            The German Obligor shall use reasonable
efforts to realize any and all of its assets that are shown in the balance
sheet with a book value (Buchwert) that it is significantly lower than the
market value of the assets, or are not recorded at all in a situation where the
German Obligor does not have sufficient Net Assets to maintain its registered
share capital, provided
that the relevant assets are
in the reasonable opinion of the German Obligor not required for the business
of the German Obligor (nicht
betriebsnotwendiges Vermögen).

(e)             The Finance Parties’ right to claim and/or
enforce a payment obligation (other than a payment obligation of a German
Obligor or of any direct or indirect subsidiary of a German Obligor under the
Term Facilities or the Revolving Facility made available to such German Obligor
or Subsidiary) shall be excluded at all, or exist only to a limited amount, if
the German Obligor delivers within the Envisaged Enforcement Date a legal
opinion issued by a law firm of international standard and reputation with
German qualified lawyers (Rechtsanwälte)
which:

(i)        comes to the conclusion that the German Obligor complying with its obligations
under any of the Finance Documents has exposed and/or would expose (based on
legal literature which is (in the view of the lawyer giving the opinion) widely
accepted among German lawyers, and/or court decisions issued after the date of
this agreement in relation to the relevant issues which present the risk of
liability as materially greater than the risk of liability as presented by
legal literature and/or court decisions current on the date of this agreement)
the managing directors of the German Obligor (or its shareholder’s or an
affiliated company’s managing directors, officers or board members), or an
affiliated company (verbundenes Unternehmen)
to a significant risk of civil or criminal liability; and

(ii)       specifies the maximum amount to which the payment and/or enforcement of
any claims under or in connection with the Finance Documents shall be limited
to prevent the circumstances referred to in the sub-paragraph immediately above
from arising.

(f)             If the Facility Agent (acting on behalf of
the Lenders) disagrees with the conclusions of the abovementioned legal
opinion, the Facility Agent shall be entitled to further pursue its claims
and/or rights (if any) under the dispute solutions agreed upon and, in
particular, to contest the conclusions of the legal opinion (and therefore the
limitations on the guarantees) in court, and the German Obligor shall be
entitled to prove what limitations under the relevant

 73
 

 

guarantees are necessary to prevent the managing directors of the
German Obligor (or its shareholder’s or an affiliated company’s managing
directors, officers or board members) or an affiliated company to become
subject to civil or criminal liability, and the conclusions of such dispute
resolution processes shall (subject to any rights of appeal) be effective
between the parties (i.e., the limitations on the relevant guarantees shall be
adjusted to reflect the conclusions of such dispute resolution processes).

(g)            In the case of a Guarantor organised in the
form of a limited partnership in which the general partner is a GmbH (GmbH
& Co. KG), the provisions set out above shall apply mutatis mutandis to the Guarantor’s
general partner (Komplementär).

(h)            If and to the extent that:

(i)        a guarantee granted under the Facility Agreement secures any Loans, (i)
which are made to a corporation, or (ii) which are deemed to be made to a
corporation according to Section 8a paragraph 5 sentence 2 German Corporation
Income Tax Act (Körperschaftsteuergesetz),
and which corporation is subject to German corporation income tax, (such Loans
being defined as a “German
Loans” and such corporation
being defined as “German
Borrower”); and

(ii)       the relevant Guarantor granting such guarantee either (i) qualifies as
a major shareholder (wesentlicher
Anteilseigner) within the meaning of Section 8a of the German Income
Corporation Tax Act (Körperschaftssteuergesetz)
of such German Borrower or (ii) as an affiliated party within the meaning of
Section 1 paragraph 2 of the German Foreign Trade Tax Act (Aussensteuergesetz) of such a major
shareholder of such German Borrower,

such guarantee (or any
enforceable judgment based thereon) shall not be enforced against assets of the
relevant Guarantor which qualify as LTIBR(s) if and to the extent such LTIBR(s)
are (i) encumbered in favour of any of the Finance Parties pursuant to a lien
arising under the general business terms (AGB-Pfandrecht)
of such Finance Party, (ii) the subject of a disposal restriction (Verfügungsbeschränkung) or (iii) subject
to enforcement pursuant to a submission to immediate foreclosure in the entire
property (Unterwerfung unter die sofortige
Zwangsvollstreckung in das gesamte Vermögen) of the relevant
Guarantor;

21.10     Limitation
on a Guarantee by United States Borrowers

Each Guarantor, the Facility
Agent and each other Finance Party, hereby confirms that it is the intention of
all such Persons that this Guarantee and the Obligations of each Guarantor
hereunder do not constitute a fraudulent transfer or conveyance for purposes of
Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent
Transfer Act or any similar United States federal or state law to the extent
applicable to this Guarantee and the Obligations of each Guarantor
hereunder.  To effectuate the foregoing
intention, the Facility Agent, the other Finance Parties and the U.S.
Guarantors 

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hereby irrevocably agree
that the Obligations of each U.S. Guarantor under this Guarantee at any time
shall be limited to the maximum amount as will result in the Obligations of
such U.S. Guarantor under this Guarantee not constituting a fraudulent transfer
or conveyance under any such laws.  For
purposes of this paragraph, “Bankruptcy Law” means Title 11, U.S. Code, or any
similar United States federal or state law for the relief of debtors.

21.11     Other
Guarantee Limitations

The obligations of each
Guarantor whose Relevant Jurisdiction is not Germany shall, in accordance with
the Guarantee Principles, be subject to the guarantee limitation (if any)
specified in the Accession Letter in relation to that Guarantor.

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SECTION 8

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT

22.         REPRESENTATIONS

The Company (on behalf of
itself and each relevant member of the Group) and each Obligor on behalf of
itself makes the following representations and warranties to each Finance Party
at the times specified in Clause 22.25 (Times
on which representations are made):

22.1       Status

(a)             It and each of its Subsidiaries is a
corporation or limited liability company or partnership, duly incorporated or
organised and validly existing under the law of its jurisdiction of
incorporation or organisation.

(b)            It and each of its Subsidiaries has the power
under its constitutive documents to own its assets and carry on its business as
it is being conducted.

22.2       Binding
obligations

Subject to the Legal
Reservations, the obligations expressed to be assumed by it in each Finance
Document are legal, valid, binding and enforceable obligations.

22.3       Non
conflict with other obligations

The entry into and
performance by it of, and the transactions contemplated by, the Finance
Documents do not and will not conflict with:

(a)             any law or regulation applicable to it;

(b)            the constitutional documents of any member of
the Group; or

(c)             any agreement or instrument binding upon it
or any member of the Group or any of its or any member of the Group’s assets,

to the extent that such
conflict is likely to have a Material Adverse Effect.

22.4       Power and
authority

It has the power to enter
into, perform and deliver, and has taken all necessary corporate action to
authorise its entry into, performance and delivery of, the Finance Documents to
which it is or will be a party and the transactions contemplated by those
Finance Documents.

22.5       Validity
and admissibility in evidence

Subject to the Legal
Reservations, all Authorisations required:

(a)             to enable it lawfully to enter into, exercise
its rights and comply with its obligations in the Finance Documents to which it
is or will be a party; and

(b)            to make the Finance Documents to which it is
or will be a party admissible in evidence in its Relevant Jurisdictions,

have been obtained or
effected and are in full force and effect where failure to do so is likely to
have a Material Adverse Effect.

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22.6       Governing
law and enforcement

(a)             Subject to the Legal Reservations, the choice
of English law as the governing law of the Finance Documents will be recognised
and enforced in its Relevant Jurisdiction.

(b)            Subject to the Legal Reservations, any
judgment obtained in England in relation to a Finance Document will be recognised
and enforced in its Relevant Jurisdiction

22.7       Insolvency

No:

(a)             corporate action, legal proceeding or other
procedure or step described in paragraph (a) of Clause 26.7 (Insolvency proceedings); or

(b)            creditors process described in Clause 26.8 (Creditors’ process),

has been taken or, to the
knowledge of the Company, threatened in relation to any Material Company and
none of the circumstances described in Clause 26.6 (Insolvency) applies to any of them.

22.8       No filing
or stamp taxes

Under the laws of the
Relevant Jurisdictions and subject to the Legal Reservations, it is not
necessary that the Finance Documents be filed, recorded or enrolled with any
court or other authority in that jurisdiction or that any stamp, registration,
notarial or similar Taxes or fees be paid on or in relation to the Finance
Documents or the transactions contemplated by the Finance Documents, except any
filing, recording or enrolling or any tax or fee payable which is referred to
in any legal opinion delivered to the Facility Agent under Clause 4.1 (Initial Conditions Precedent) or Clause 28
(Changes to the Obligors) and
which will be made or paid promptly after the date of execution of the relevant
Finance Document.

22.9       No
default

(a)             No Event of Default is continuing or is
likely to result from the making of any Utilisation.

(b)            No other event or circumstance is outstanding
which constitutes a default under any other agreement or instrument which is
binding on it or any of its Subsidiaries or to which its (or its Subsidiaries’)
assets are subject which could be expected to have a Material Adverse Effect.

22.10     No
misleading information

(a)             Any factual information contained in the
Information Memorandum or Business Plan was true and accurate in all material
respects as at the date of the relevant report or document containing the
information.

(b)            Any financial projections or forecasts
contained in the Information Memorandum or Business Plan have been prepared on
the basis of recent historical information and on the basis of assumptions
believed to be reasonable.

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(c)             The expressions of opinion or intention
provided by or on behalf of an Obligor for the purposes of the Information
Memorandum or Business Plan were arrived at after careful consideration and
were fair and based on reasonable grounds.

(d)            No event or circumstance has occurred or
arisen and no information has been omitted from the Information Memorandum or
Business Plan and no information has been given or withheld that results in the
information, opinions, intentions, forecasts or projections contained in the
Information Memorandum or the Business Plan being untrue or misleading or other
than fair and reasonable in any material respect.

(e)             All other written information which is
required to be provided under any of the Finance Documents by any member of the
Group (including its advisers) was true, complete and accurate in all material
respects as at the date it was provided and is not misleading in any material
respect.

The representations and
warranties made by any Obligor in this Clause 22.10 are made only in so far as
it is aware after making reasonable enquiries.

22.11     Financial
statements

(a)             Its Original Financial Statements were (save
as disclosed therein) prepared in accordance with the Accounting Principles
consistently applied.

(b)            Its Original Financial Statements give a true
and fair view of its financial condition and operations during the relevant
financial year.

(c)             Except to the extent superseded by
subsequently delivered financial statements, each set of financial statements
delivered pursuant to Clause 23.1 (Financial
statements) were prepared in accordance with the Accounting
Principles and gives (in conjunction with the notes thereto) a true and fair
view of (in the case of audited financial statements or, in the case of any
management accounts, are reasonably believed to fairly represent) or fairly
represents (in the case of unaudited financial statements) its financial
condition and operations as at the date at which those financial statements were
drawn up.

(d)            As far as it is aware after making reasonable
enquiries, no member of the Group, as at the date as of which the Original
Financial Statements and any financial statements delivered hereunder pursuant
to Clause 23.1 (Financial statements)
were prepared, failed to disclose or reserve against any liabilities
(contingent or otherwise and including in relation to pensions or employee
benefit schemes) nor any unrealised anticipated losses arising from commitments
entered into by it which, in accordance with Accounting Principles, it should
have disclosed or reserved against and which is likely to have a Material
Adverse Effect.

22.12     No
proceedings pending or threatened

No litigation, arbitration
or administrative proceedings or investigations of or before any court,
arbitral body or agency which, if adversely determined, would be likely to have
a Material Adverse Effect have been started or threatened against it or any of
its

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Subsidiaries nor, to the
best of its knowledge and belief, are there any circumstances likely to give
rise to any such litigation, arbitration or administrative proceedings or
investigations which would be likely to have a Material Adverse Effect.

22.13     Environmental
and other laws

(a)             Each member of the Group is in compliance
with Clause 25.3 (Environmental compliance)
and, to the best of its knowledge and belief, no circumstances have occurred
which would prevent that performance or observation.

(b)            No Environmental Claim has been commenced or
(to the best of its knowledge and belief) is threatened against any member of
the Group where that claim is likely, if determined against that member of the
Group, to have a Material Adverse Effect.

(c)             No member of the Group is in breach of any
other law or regulation in a manner or to an extent which is likely to have a
Material Adverse Effect.

22.14     Taxation

(a)             It is not (and none of its Subsidiaries is):

(i)        materially overdue in the filing of any Tax returns where such failure
would be likely to have a Material Adverse Effect; or

(ii)       overdue in the payment of any material amount in respect of Tax save to
the extent that (i) payment is being contested in good faith, or (ii) it has
maintained adequate reserves for those Taxes and (iii) either payment can be
lawfully withheld or non payment would not have a Material Adverse Effect.

(b)            No claims are being or (based on facts at the
time of signing this Agreement) are likely to be asserted against it (or any of
its Subsidiaries) with respect to Taxes except for assessments in relation to the
ordinary course of its business or claims being contested in good faith and in
respect of which adequate provision has been made in its accounts and payment
can be lawfully withheld or non payment would not be likely to have a Material
Adverse Effect.

22.15     Security
and Financial Indebtedness

(a)             No Security exists over all or any of the
present or future assets of any member of the Group other than any Security
permitted under Clause 25.11 (Negative
pledge).

(b)            No member of the Group has any actual or
contingent Financial Indebtedness outstanding other than as permitted by this
Agreement.

22.16     Good
Title Assets

It and each of it
Subsidiaries has a good title to, or valid leases or licences of, and all
appropriate Authorisations to use, the assets necessary to carry on its
business as presently conducted save where failure to do so would likely have a
Material Adverse Effect.

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22.17               Intellectual Property

It is not aware of any adverse circumstances relating
to the validity, subsistence or use of any of its or its Subsidiaries’ Material
Intellectual Property which would likely have a Material Adverse Effect.

22.18               Group structure

(a)                                      The Structure Memorandum (containing the
group structure chart) to be delivered to the Facility Agent shall be, when so
delivered, true, complete and accurate in all material respects.

(b)                                     All necessary intra Group loans, transfers,
share exchanges and other steps resulting in the final Group structure set out
in the Structure Memorandum have been or will be taken in compliance with all
relevant laws and regulations and all requirements or relevant regulatory
authorities.

22.19               Insurance

As of the Closing Date, each member of the Group
maintains insurance as described in Clause 25.18 (Insurance).

22.20               ERISA

Neither any Obligor nor any ERISA Affiliate has
established, maintains, contributes or has liability with respect to any
employee benefit plan that is covered by Title IV of ERISA which would be
likely to have a Material Adverse Effect.

22.21               Margin Stock

(a)                                      No Borrower is engaged nor will it engage
principally, or as one of its important activities, in the business of owning
or extending credit for the purpose of “buying” or “carrying” any Margin Stock.

(b)                                     None of the proceeds of any Loan or other
extensions of credit under this Agreement will be used, directly or indirectly,
for the purpose of buying or carrying any Margin Stock, for the purpose of
reducing or retiring any indebtedness that was originally incurred to buy or
carry any Margin Stock or for any other purpose which might cause all or any
Loans or other extensions of credit under this Agreement to be considered a “purpose credit” within the meaning of Regulation U or
Regulation X.

(c)                                      No Borrower or any agent acting on its behalf
has taken or will take any action which would cause the Finance Documents to
violate any regulation of the Board of Governors of the Federal Reserve System
of the United States.

22.22               Pensions

Other than as described in the Original Financial
Statements of the Group, no member of the Group (other than any U.S. Group
Company, for which pension matters are addressed in Section 22.20) has any
liability in relation to pensions or employee benefit schemes which would be
likely to have a Material Adverse Effect.

22.23               Investment Companies

No Obligor is an “investment
company” as such term is defined in the Investment Company Act of
1940 of the United States (the “1940 Act”)
or otherwise subject to 

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regulation under the 1940 Act or subject to regulation
under any United States federal or state statute or regulation restricting or
limiting its ability to incur indebtedness other than statutes and regulations
of general application.

22.24               Anti-Terrorism Laws

(a)                                      To the best of the Obligors’ knowledge, no
Obligor nor any Affiliate thereof: (i) is, or is controlled by, a Restricted
Party in contravention of an Anti-Terrorism Law; (ii) has received funds or
other property from a Restricted Party; or (iii) is in breach of or is the
subject of any action or investigation under any Anti-Terrorism Law.

(b)                                     Each Obligor has taken reasonable measures to
ensure compliance with the Anti-Terrorism Laws and no Obligor knows of any
failure to take reasonable measures to ensure compliance with an Anti-Terrorism
Law by any of its Affiliates.

22.25               Times on which representations
are made

(a)                                      All the representations and warranties in
this Clause 22 are made to each Finance Party on the date of this Agreement and
on the Closing Date except for the representations and warranties set out in
(i) Clause 22.10 (No misleading information)
relating to the Information Memorandum which are to be made by the Company on
the date that the Information Memorandum is approved by it and on the
Syndication Date, and (ii) paragraphs (c) and (d) of Clause 22.11 (Financial statements) which are to be made
on the date of this Agreement, the Closing Date and the date of delivery of
each set of financial statements (in relation to the financial statements then
delivered).

(b)                                     The Repeating Representations are repeated by
the Company and each Obligor to each Finance Party on the date of each
Utilisation Request and on the first day of each Interest Period provided that the Repeated Representations shall not
include those in respect of which the corresponding Events of Default are not
applicable pursuant to Clause 26.19 (Certain
Funds Period).

(c)                                      All the Repeating Representations are made by
each Additional Obligor in relation to itself to each Finance Party on the day
on which it becomes an Additional Obligor.

(d)                                     Each representation or warranty to be made
after the date of this Agreement shall be made by reference to the facts and
circumstances existing at the date the representation or warranty is made
unless expressly stated to be made as at another date in which case the
relevant representation and warranty shall be made by reference to the facts
and circumstances existing as at that date.

23.                           INFORMATION
UNDERTAKINGS

The undertakings in this Clause 23 remain in force
from the date of this Agreement for so long as any amount is outstanding under
the Finance Documents or any Commitment is in force.

In this Clause 23:

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“Annual Financial
Statement” means a financial statement for a financial year
delivered pursuant to paragraph (a) of Clause 23.1 (Financial statements).

“Financial Quarter”
has the meaning given to that term in Clause 24.1 (Financial definitions).

23.1                     Financial statements

The Company shall supply to the Facility Agent:

(a)                                      as soon as they are available, but in any
event within 120 days after the end of each of its financial years (i) the
audited consolidated financial statements for the Group for that financial
year; and (ii) the balance sheet and profit and loss account report of each
Obligor for that financial year, audited, if that Obligor is required by law to
prepare or otherwise prepares audited financial statements.

(b)                                     as soon as they are available, but in any
event within 60 days after the end of each Financial Quarter, the un-audited
consolidated financial statements for the Group prepared in accordance with the
Accounting Principles for that Financial Quarter (“Quarterly Financial Statements”), including in each case profit and loss accounts, balance sheet and
cash flow statements and a management commentary thereon from the Chief
Financial Officer.

23.2                     Compliance Certificate

(a)                                      The Company shall supply a Compliance
Certificate to the Facility Agent with each set of its audited consolidated
Annual Financial Statements and each set of its un-audited consolidated
Semi-Annual Financial Statements.

(b)                                     Each Compliance Certificate shall:

(i)                        set out (in reasonable detail) computations
as to compliance with Clause 24 (Financial
Covenants) and the Margin computations set out in the definition “Margin” and Clause 12.3 (Margin Ratchet); and

(ii)                     confirm that no Default has occurred and is
continuing or, if a Default has occurred, what Default has occurred and the
steps being taken to remedy that Default.

(c)                                      Each Compliance Certificate shall be signed
by a director of the Company and, when required to be delivered with the
consolidated Annual Financial Statements of the Company, shall be accompanied
by confirmation thereof (together with a customary engagement letter providing
for reliance by the Lenders) from the Company’s auditors in form satisfactory
to the Facility Agent (acting reasonably).

23.3                     Requirements as to financial
statements

(a)                                      Each set of financial statements delivered
pursuant to Clause 23.1 (Financial
statements):

(i)                        shall be certified by a director of the
relevant company as giving a true and fair view (in the case of Annual
Financial Statements) or fairly representing (in other cases) its, or as the
case may be, its consolidated 

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financial
condition and operations as at the date as at which those financial statements
were drawn up and shall be prepared using the Accounting Principles, accounting
practices and financial reference periods consistent with those applied, in the
preparation of the Business Plan, unless, in relation to any set of financial
statements, the Company notifies the Facility Agent that there has been a
change in the Accounting Principles, the accounting practices or reference
periods and its auditors (or, if appropriate, the auditors of the Obligor or
the Company) deliver to the Facility Agent:

(A)                a description of any change necessary for
those financial statements to reflect the Accounting Principles, accounting
practices and reference periods upon which the Business Plan or, as the case
may be, that Obligor’s Original Financial Statements were prepared; and

(B)                  sufficient information, in form and substance
as may be reasonably required by the Facility Agent, to enable the Lenders to
determine whether Clause 24 (Financial
covenants) and Clause 25.23
(Guarantors) have been complied with, to determine the
Margin as set out in the definition of “Margin” and Clause
12.3 (Margin Ratchet), to determine whether a person is a
Material Company as set out in the definition of “Material Company”
and to make an accurate comparison between the financial position indicated in
those financial statements and the Business Plan (in the case of the Company)
or that Obligor’s Original Financial Statements (in the case of an Obligor).

(b)                                     If the Company notifies the Facility Agent of
a change in accordance with sub-paragraph (i) above then the Company and
Facility Agent shall enter into negotiations in good faith with a view to
agreeing:

(i)                        whether or not the change might result in any
material alteration in the commercial effect of any of the terms of this
Agreement; and

(ii)                     if so, any amendments to this Agreement which
may be necessary to ensure that the change does not result in any material
alteration in the commercial effect of those terms,

and if any amendments are agreed they shall take
effect and be binding on each of the Parties in accordance with their terms.

If no such agreement is reached within 30 days of that
notification of change, the Facility Agent shall (if so requested by the Majority
Lenders) instruct the auditors of the Company or independent accountants
(approved by the Company or, in the absence of such approval within 5 days of
request by the Facility Agent of such approval, a firm with recognised
expertise) to determine any amendment to Clause 24.2 (Financial condition) the Margin
computations set out in the definition of “Margin”
and Clause 12.3 (Margin Ratchet),
and any other terms of this Agreement which those auditors or, as the case may
be,

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accountants (acting as experts and not arbitrators)
consider appropriate to ensure the change does not result in any material
alteration in the commercial effect of the terms of this Agreement.  Those amendments shall take effect when so
determined by those auditors, or as the case may be, accountants.  The cost and expense of those auditors or
accountants shall be for the account of the Company.

Any reference in this Agreement to those financial
statements shall be construed as a reference to those financial statements as
adjusted to reflect the basis upon which the Business Plan or, as the case may
be, the Original Financial Statements were prepared.

(c)                                      The Company shall procure that each set of
Annual Financial Statements shall be audited by one of the internationally
recognised “big four” firm of accountants or such other auditors with the prior
written consent of the Majority Lenders.

(d)                                     The Company shall procure that each set of
Quarterly Financial Statements shall be in a form reasonably acceptable to the
Facility Agent and include a balance sheet, profit and loss account and
cashflow statement.

23.4                     Group Companies

The Company shall, at the request of the Facility
Agent, but no more often than once a year unless a Default is continuing,
supply to the Facility Agent a report issued by its auditors (or, if such
report is not customarily issued by its auditors, such other evidence as the
Facility Agent may reasonably require) stating which of the Subsidiaries are
Material Subsidiaries.

23.5                     Information: miscellaneous

The Company shall supply to the Facility Agent (in
sufficient copies for all the Lenders, if the Facility Agent so requests):

(a)                                      all documents that are required by law or the
articles of association or partnership agreement to be dispatched by the
Company to its shareholders generally (or any class of them) or dispatched by
the Company or any Material Company to its creditors generally at the same time
as they are dispatched;

(b)                                     if any Event of Default is continuing, such
information or projections regarding the financial condition, business,
property, assets, operations, performance or prospects of any member of the
Group as any Finance Party (through the Facility Agent) may reasonably request;
and

(c)                                      promptly, details of any disposal, claim or
circumstance which will require a prepayment of Loans under paragraph (b) of
Clause 11.7 (Exit), Clause 11.8 (Equity Proceeds) and Clause 11.9 (Disposal Proceeds);

(d)                                     any other information and documents as may be
required under Sections 13, 13(a) and 18 of the German Banking Act (Gesetz über das Kreditwesen),

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provided that the
Company shall not be obliged to disclose to the Facility Agent any non-public
information about the Group that would result in the Group being in breach of
any legal or regulatory restriction applicable to any member of the Group.

23.6                     Notification of default

(a)                                      Each Obligor shall notify the Facility Agent
of any Default (and the steps, if any, being taken to remedy it) promptly upon
becoming aware of its occurrence (unless that Obligor is aware that a notification
has already been provided by another Obligor).

(b)                                     Promptly upon a request by the Facility
Agent, the Company shall supply to the Facility Agent a certificate signed by
at least one director or senior officer on its behalf certifying that no Default
is continuing (or if a Default is continuing, specifying the Default and the
steps, if any, being taken to remedy it).

23.7                     “Know your customer” checks

(a)                                      If:

(i)                        the introduction of or any change in (or in
the interpretation, administration or application of) any law or regulation
made after the date of this Agreement;

(ii)                     any change in the status of an Obligor or the
composition of the shareholders of an Obligor after the date of this Agreement;
or

(iii)                  a proposed assignment or transfer by a Lender
of any of its rights and/or obligations under this Agreement to a party that is
not a Lender prior to such assignment or transfer,

obliges the Facility Agent or any Lender (or, in the
case of sub-paragraph (iii) above, any prospective new Lender) to comply with “know your customer” or similar
identification procedures in circumstances where the necessary information is
not already available to it, each Obligor shall promptly upon the request of
the Facility Agent or any Lender supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by the Facility
Agent (for itself or on behalf of any Lender) and reasonably obtainable by the
relevant Obligor or any Lender (for itself or, in the case of the event
described in sub-paragraph (iii) above, on behalf of any prospective new
Lender) in order for the Facility Agent, such Lender or, in the case of the
event described in sub-paragraph (iii) above, any prospective new Lender to
carry out and be satisfied (acting reasonably) with the results of all
necessary “know your customer” or
other similar checks under all applicable laws and regulations pursuant to the
transactions contemplated in the Finance Documents.

(b)                                     Each Lender shall promptly upon the request
of the Facility Agent supply, or procure the supply of, such documentation and
other evidence as is reasonably requested by the Facility Agent (for itself) in
order for the Facility Agent to carry out and be satisfied with the results of
all necessary “know
your 

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customer” or other similar checks under all
applicable laws and regulations pursuant to the transactions contemplated in
the Finance Documents.

(c)                                      The Company shall, by not less than 10
Business Days’ prior written notice to the Facility Agent, notify the Facility Agent
(which shall promptly notify the Lenders) of its intention to request that one
of its Subsidiaries becomes an Additional Obligor pursuant to Clause 28 (Changes to the Obligors).

(d)                                     Following the giving of any notice pursuant
to paragraph (c) above, if the accession of such Additional Obligor obliges the
Facility Agent or any Lender to comply with “know your customer”
or similar identification procedures in circumstances where the necessary
information is not already available to it, the Company shall promptly upon the
request of the Facility Agent or any Lender supply, or procure the supply of,
such documentation and other evidence as is reasonably requested by the
Facility Agent (for itself or on behalf of any Lender) or any Lender (for
itself or on behalf of any prospective new Lender) and reasonably obtainable by
the relevant Obligor in order for the Facility Agent or such Lender or any
prospective new Lender to carry out and be satisfied (acting reasonably) with
the results of all necessary “know
your customer” or other
similar checks under all applicable laws and regulations pursuant to the
accession of such Subsidiary to this Agreement as an Additional Obligor.

24.                           FINANCIAL
COVENANTS

24.1                     Financial definitions

In this Clause 24:

“Borrowings”
means, at any time, the outstanding principal, capital or nominal amount and
any fixed or minimum premium payable on prepayment or redemption of any
indebtedness for or in respect of:

(a)                                      moneys
borrowed and debit balances with financial institutions;

(b)                                     any
amount raised by acceptance under any acceptance credit facility;

(c)                                      any
amount raised pursuant to any note purchase facility or the issue of bonds,
notes, debentures, loan stock or any similar instrument including but not
limited to, the Patterson Note if issued by a member of the Group;

(d)                                     the
amount of any liability in respect of any lease or hire purchase contract which
would, in accordance with the Accounting Principles, be treated as a finance or
capital lease;

(e)                                      receivables
sold or discounted other than to members of the Group (other than any
receivables to the extent they are sold on a non recourse basis);

(f)                                        any
counter indemnity obligation in respect of a guarantee, indemnity, bond,
standby or documentary letter of credit or any other instrument issued by a
bank or financial institution (excluding the amount of any trade credit in
respect of 

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the supply of assets or services unless payment is due
more than 180 days from the date on which the goods were delivered or services
were performed);

(g)                                     any
amount raised by the issue of redeemable shares which are redeemable on or
before the last Termination Date;

(h)                                     any
amount of any liability under an advance or deferred purchase agreement if one
of the primary reasons behind the entry into the agreement is to raise finance
other than any liability arising under the U.S. Exclusivity Agreement;

(i)                                         any
amount raised under any other transaction (including any forward sale or
purchase agreement) having the commercial effect of a borrowing; and

(j)                                         (without
double counting) the amount of any liability in respect of any guarantee or
indemnity for any of the items referred to in paragraphs (a) to (i) (inclusive)
above,

provided that, for
the avoidance of doubt, the Financial Indebtedness referred to in sub-paragraph
(b)(vii) of Clause 25.17 (Financial
Indebtedness) shall not be counted as “Borrowings”.

“Cash Interest Costs”
means for any Relevant Period the aggregate amount of the accrued interest
payments in respect of Borrowings which are paid or payable in cash in respect
of that Relevant Period.

“Consolidated
Adjusted EBITDA” means for any Relevant Period the consolidated
income before taxes of the Group from ordinary activities for such Relevant
Period:

(a)                                      before deducting any Consolidated Net
Finance Charges;

(b)                                     before taking into account any items
treated as exceptional or extraordinary items, including costs incurred in
connection with an acquisition permitted pursuant to sub-paragraph (b)(ii) of
Clause 25.7 (Acquisitions);

(c)                                      before taking into account any realised or
unrealised gains or losses with respect to Utilisations due to movements in
exchange rates occurring during such period to the extent the same has not
resulted in a cash receipt or payment by the Group;

(d)                                     before deducting any Refinancing Costs and
any Acquisition Costs;

(e)                                      after deducting the amount of any profit
(and adding the loss) of any member of the Group which is attributable to
minority interests;

(f)                                        after deducting the amount of any profit of
any investment or entity (which is not itself a member of the Group) in which
any member of the Group has an ownership interest to the extent that the amount
of such profit included in the financial statements of the Group exceeds the
amount (net of applicable withholding tax) received in cash by members of the
Group through distributions by such investment or entity;

 87
 

 

(g)                                     before deducting any amount attributable to
the amortisation of Refinancing Costs or costs of intangible assets or the
depreciation of tangible assets and current assets or write off of research and
development currently in progress incurred in connection with purchase price
accounting (fair market value adjustments/step-up);

(h)                                     before taking into account pension interest
cost;

(i)                                         before deducting option or similar non-cash
expenses; and

(j)                                         before deducting any non-recurring costs
and expenses incurred in order to ensure compliance with Sarbanes-Oxley Act of
2002 and US Regulation 404,

in each case, to the extent added, deducted or taken
into account, as the case may be, for the purposes of determining income/(loss)
before taxation of the Group from ordinary activities.

“Consolidated Net
Finance Charges” means, for any Relevant Period, the aggregate
amount of the accrued interest, commission, fees, discounts, prepayment
penalties or premiums and other finance payments in respect of Borrowings
whether paid, payable or capitalised by any member of the Group in respect of
that Relevant Period:

(a)                                      excluding any such obligations owed to any
other member of the Group;

(b)                                     including the interest element of leasing
and hire purchase payments;

(c)                                      including any accrued commission, fees,
discounts and other finance payments payable by any member of the Group under
any interest rate hedging arrangement;

(d)                                     deducting any accrued commission, fees,
discounts and other finance payments owing to any member of the Group under any
interest rate hedging instrument;

(e)                                      deducting any accrued interest owing to any
member of the Group on any deposit or bank account;

(f)                                        excluding any Refinancing Costs; and

together with the amount of any cash dividends or
distributions paid or made by the Original Borrower in respect of that Relevant
Period.

“Consolidated Total
Net Debt” means, at any time, the aggregate amount of all
obligations of the Group for or in respect of Borrowings but:

(a)                                      excluding any such obligations to any other
member of the Group;

(b)                                     including, in the case of finance leases,
only the capitalised value therefore; and

(c)                                      deducting the aggregate amount of freely
available Cash and Cash Equivalent Investments held by any member of the Group
at such time which can be applied in prepayment or prepayment of the
Facilities, whether as a result of 

 88
 

 

dividend payments, loans or other payments made to the
relevant member of the Group.

and so that no amount shall be included or excluded
more than once.

“Financial Half-Year”
means the period of six months commencing on the day after each Half-Year Date.

“Half-Year Date”
means each of 31 March and 30 September.

“Refinancing Costs”
means cost and expenses incurred by the Group in connection with the
refinancing of the Existing Senior Facilities Agreement and the Existing
Mezzanine Facilities Agreement pursuant to the Facilities as set out in the
Funds Flow Statement.

“Relevant Period”
means each period of twelve months ending on the last day of the Parent’s
financial year and each period of twelve months ending on the last day of each
Financial Half Year of the Parent.

“Semi-Annual
Financial Statements” means the Quarterly Financial Statements in
respect of the financial quarters ending on each Half Year Date delivered to
the Facility Agent pursuant to paragraph (b) of Clause 23.1 (Financial Statements).

24.2                     Financial condition

The Company shall ensure that:

(a)                                      Debt Cover: The ratio of Consolidated Total Net Debt to
Consolidated Adjusted EBITDA in respect of any Relevant Period specified in
Column 1 below shall not be greater than the ratio set out in Column 2 below
opposite that Relevant Period.

	
  Column 1

  Relevant Period expiring

  	
   

  	
  Column 2

  Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  31 March 2007

  	
   

  	
  4.00:1

  	
   

  
	
  30 September
  2007

  	
   

  	
  4.00:1

  	
   

  
	
  31 March 2008

  	
   

  	
  3.50:1

  	
   

  
	
  30 September
  2008 and thereafter

  	
   

  	
  3.50:1

  	
   

  

 

(b)                                     Cash Interest Cover: The ratio of Consolidated Adjusted EBITDA
to Cash Interest Costs in respect of any Relevant Period (commencing with the
Relevant Period expiry 31 March 2007) shall not be less than 4.00:1.

24.3                     Financial testing

The financial covenants set out in Clause 24.2 (Financial condition) shall be tested by
reference to each of the financial statements and/or each Compliance
Certificate delivered pursuant to Clause 23.2 (Compliance
Certificate).

24.4                     Adjustments

For the purpose of calculating the ratios under Clause
24.2 (Financial Condition) in
relation to any Relevant Period, each of the relevant figures will be
calculated on a pro forma basis including each acquisition permitted under
sub-paragraph (b)(ii) or (b)(v) of 

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Clause 25.7 (Acquisitions)
and each disposal of assets of the Group as if that acquisition or disposal had
occurred on the first day of the Relevant Period.

24.5                     First Period

In relation to any Relevant Period before January
2008, for the purpose of calculating:

(a)                                      Cash Interest Cost and Consolidated Net
Finance Charges, the relevant figure for the period from 1 January 2007 to the
relevant calculation date shall be annualised by dividing the relevant figure
by the number of months in the period from 1 January 2007 to the relevant
calculation date and multiplying the result by 12.

(b)                                     Consolidated Adjusted EBITDA, the pro forma
Consolidated Adjusted EBITDA of the component parts of the Group shall be
calculated for the Relevant Period.

25.                           GENERAL
UNDERTAKINGS

The undertakings in this Clause 25 remain in force
from the date of this Agreement for so long as any amount is outstanding under
the Finance Documents or any Commitment is in force.

25.1                     Authorisations

Each Party (other than a Finance Party) shall
promptly:

(a)                                      obtain, comply with and do all that is
necessary to maintain in full force and effect; and

(b)                                     supply, upon request of the Facility Agent,
certified copies to the Facility Agent of,

any Authorisation required under any law or regulation
of a Relevant Jurisdiction to:

(i)                        enable it to perform its obligations under
the Finance Documents; and

(ii)                     ensure the legality, validity, enforceability
or admissibility in evidence of any Finance Document,

where failure to do so is likely to have a Material
Adverse Effect.

25.2                     Compliance with laws

Each Obligor shall (and the Company shall ensure that
each member of the Group shall) comply in all respects with all laws to which
it is subject, if failure so to comply is likely to have a Material Adverse
Effect.

25.3                     Environmental compliance

Each Obligor shall (and the Company shall ensure that
each member of the Group shall):

(a)                                      comply in all material respects with all
Environmental Law;

(b)                                     obtain and maintain and ensure compliance
with any Environmental Permits; and

 90
 

 

(c)                                      take all reasonable steps in anticipation of
known or expected future changes to or obligations under Environmental Law or
Environmental Permits,

where failure to do so is likely to have a Material
Adverse Effect.

25.4                     Taxation

Each Obligor shall (and the Company shall ensure that
each member of the Group shall) duly and punctually pay and discharge all Taxes
imposed upon it or its assets within the time period allowed without incurring
penalties unless and only to the extent that:

(a)                                      such payment is being contested in good
faith;

(b)                                     appropriate reserves are being maintained for
those Taxes; and

(c)                                      either such payment can be lawfully withheld
or non payment would not have a Material Adverse Effect.

25.5                     Merger

No Obligor shall (and the Company shall ensure that no
other member of the Group will) enter into any amalgamation, demerger, merger
or corporate reconstruction (“merger”)
except solvent mergers between members of the Group where if one is an Obligor
the surviving entity is or becomes an Obligor or with the prior consent of the
Majority Lenders, such consent not to be unreasonably withheld where required
to optimise the tax structure of the Group, provided
that the Lenders’ position is not adversely affected.  Notwithstanding the above, this Clause 25.5
shall not apply to a Permitted Reorganisation.

25.6                     Change of business

The Company and each Obligor shall procure that no
substantial change is made to the general nature of the business of the Group
from that carried on at the date of this Agreement.

25.7                     Acquisitions

(a)                                      Unless the Non-Leveraged Criteria has been
met, no Obligor shall (and the Company shall ensure that no other member of the
Group will) incorporate or acquire a company or acquire (or acquire an interest
in) shares or securities or a business or undertaking.

(b)                                     Paragraph (a) above shall not apply to an
incorporation or acquisition:

(i)                        by a member of the Group permitted pursuant
to paragraph (b) of Clause 25.8 (Joint
ventures);

(ii)                     of a company or corporation or shares or
securities or a business or undertaking (the “target”) by a member
of the Group provided
that:

(A)               the target carries out a similar, related or
a complimentary line of business to the Group;

(B)                 on a pro forma basis
following consolidation of the target, there will be no breach of the financial
covenants set out in Clause 24 

 91
 

 

(Financial covenants) (tested on a pro forma basis at
the end of the most recently ended Relevant Period and tested on a prospective pro forma basis over the two following testing periods)
as a result of the acquisition.

(iii)                  of Cash Equivalent Investments; or

(iv)                 the company incorporated or acquired is a
limited liability shelf company purchased or incorporated for the purpose of
affecting a Permitted Reorganisation; or

(v)                    of a company or corporation or shares or
securities or a business or undertaking by a member of the Group provided that the total consideration payable in relation
to all such acquisitions under this sub-paragraph 25.7(b)(v) shall not exceed,
when aggregated with the aggregate amount of all other Invested Funds at the
time of any such acquisition, the General Investments Threshold;

(vi)                 where such incorporation or acquisition is a
Permitted Reorganisation,

provided that in
each case no Event of Default is outstanding or no Default would result from
the proposed acquisition.

For the purpose of this Clause:

“consideration”
means all consideration payable in relation to the relevant acquisition, both
cash and non cash, calculated on a debt free cash free basis and including all
earn-out amounts, post closing adjustments and the amount of any deferred
purchase price and any costs and expenses incurred;

“earn-out amounts”
means, in relation to the relevant acquisition, the maximum earn-out amounts
for which the relevant member of the Group may be or become liable at any time
save to the extent that the liability to pay such earn-out amount has
unconditionally and finally terminated.

25.8                     Joint ventures

(a)                                      Unless the Non-Leveraged Criteria has been
met, no Obligor shall (and the Company shall ensure that no member of the Group
will):

(i)                        acquire (or agree to acquire) any shares,
stocks, securities or other interest in any Joint Venture; or

(ii)                     transfer any assets or lend to or guarantee
or indemnify or give Security for the obligations of a Joint Venture (or agree
to transfer, lend, guarantee, indemnify or give Security for the obligations of
a Joint Venture).

(b)                                     Paragraph (a) does not apply to the
acquisition or agreement to acquire any shares, stocks, securities or other
interest in any Joint Venture or the transfer of any asset or the making of any
loan to a Joint Venture if the aggregate amount payable for such acquisition,
the higher of book value and market value of such asset transferred and the
principal amount of such loan does not, when 

 92
 

 

aggregated
with the aggregate amount of all other Invested Funds at the time of such
acquisition, transfer or loan, exceed the General Investments Threshold, provided that no Event of Default is outstanding at the
time of such acquisition, agreement, transfer or loan or would arise as a
result thereof.

25.9                     Preservation of assets

Each Obligor shall (and the Company shall ensure that
each member of the Group shall) maintain and preserve, in good working order
and condition (ordinary wear and tear excepted) all of its assets necessary in
the conduct of the business of the Group as a whole, as conducted at the date
of this Agreement, where failure to do so would likely have a Material Adverse
Effect.

25.10               Pari passu ranking

Each Obligor shall (and the Company shall ensure that
each member of the Group will) ensure that at all times any unsecured and unsubordinated
claims of a Finance Party held against it under the Finance Documents rank at
least pari passu with the claims of all its other unsecured and unsubordinated
creditors except those creditors whose claims are mandatorily preferred by laws
of general application to companies.

25.11               Negative pledge

In this Clause 25.11, “Quasi Security” means a transaction described in paragraph (b)
below.

Except as permitted under paragraph (c) below:

(a)                                      No Obligor shall (and the Company shall
ensure that no other member of the Group will) create or permit to subsist any
Security over any of its assets.

(b)                                     No Obligor shall (and the Company shall
ensure that no other member of the Group will):

(i)                        enter into any arrangement under which money
or the benefit of a bank or other account may be applied, set off or made
subject to a combination of accounts; or

(ii)                     enter into any other preferential arrangement
having a similar effect,

in circumstances where the arrangement or transaction
is entered into primarily as a method of raising Financial Indebtedness or of
financing the acquisition of an asset.

(c)                                      Paragraphs (a) and (b) above do not apply to:

(i)                        any netting or set off arrangement (or
Security over a credit balance in a bank account which is entered into to
effect such arrangement) entered into by any member of the Group in the
ordinary course of its banking arrangements for the purpose of netting debit
and credit balances of members of the Group;

 93
 

 

(ii)                     any lien or other Security arising by
operation of law in the ordinary course of trading and not (unless such lien or
other Security is removed within 75 days of its creation) by reason of default;

(iii)                  Security existing on the Closing Date as
listed in Schedule 13 (Overview Loans and
Securities Subsidiaries);

(iv)                 any Security or Quasi-Security over or
affecting any asset acquired by a member of the Group after the Closing Date or
assets of companies which become members of the Group after the Closing Date;

(A)                up to an amount of EUR 30,000,000; or

(B)                  if the Security or Quasi-Security is removed
or discharged within 6 months of the acquisition of such asset or such company
becoming a member of the Group provided
that the Security or
Quasi-Security was not created or the principal amount secured has not
increased in contemplation of the acquisition of the relevant asset;

(v)                    any retention of title, hire purchase or
conditional sale arrangement or arrangements having similar effect in respect
of goods supplied to a member of the Group in the ordinary course of business and
on the suppliers standard or usual terms;

(vi)                 any Security in favour of an Ancillary Lender
over goods or documents of title to goods arising in the ordinary course of
letter of credit transactions entered into in the ordinary course of business;

(vii)              any Security securing the Existing Senior
Facility Agreement and/or the Existing Mezzanine Facility Agreement provided that such Security is released upon the first
Utilisation under the Facilities;

(viii)           cash cover relating to a Bank Guarantee; or

(ix)                   any Security arising pursuant to an order of
attachment or injunction restraining disposal of assets or similar legal
process arising in connection with court proceedings being contested by the
relevant member of the Group in good faith with a reasonable prospect of
success where the amount of any claims being contested does not exceed in
aggregate in respect of all members of the Group EUR 15,000,000 (or its
equivalent in any other currency or currencies);

(x)                      any Security constituted by a finance lease,
hire purchase or conditional sale agreement, where the Financial Indebtedness
arising under such arrangement is permitted pursuant to paragraph (b) of Clause
25.17 (Financial Indebtedness);

(xi)                   any Security arising under condition 14 of
the general business conditions of German banks or similar provisions of other
banks with whom any 

 94
 

 

member
of the Group maintains a banking relationship in the ordinary course of
business;

(xii)                any Security created to secure loans by any
member of the Group to another member of the Group as provided in
sub-paragraphs (b)(i), (b)(iii) and (b) (iv) of Clause 25.14 (Loan and Credit);

(xiii)             Security in favour of a bank over goods and
documents of title arising in the ordinary course of documentary credit
transactions entered into by a member of the Group in the ordinary course of
business up to an aggregate amount not exceeding EUR 15,000,000;

(xiv)            any Security arising by operation of law in
favour of any governmental, state or local tax authority in respect of Taxes
(1) that are not yet due or (2) for which adequate reserves are being
maintained, the payment of which is contested in good faith and can be lawfully
withheld;

(xv)               Quasi Security which may have arisen as a
result of the Permitted Bensheim Disposal; and

(xvi)            any Security in addition to that within
sub-paragraphs (i) to (xv) above and securing indebtedness in aggregate not
exceeding at any one time EUR 30,000,000 or its equivalent; or if the
Non-Leveraged Criteria are satisfied EUR 60,000,000 or its equivalent.

25.12               Treasury Transactions

No Obligor shall (and the Company will procure that no
member of the Group will) enter into Treasury Transaction, other than:

(a)                                      spot and forward delivery foreign exchange
contracts entered into in the ordinary course of business of a member of the
Group and not for speculative purposes;

(b)                                     any Treasury Transaction entered into for the
hedging of actual or projected real exposures arising in the ordinary course of
trading activities of a member of the Group (and not for speculative purposes).

25.13               Arm’s length basis

(a)                                      Except as permitted by paragraph (b) below,
no Obligor shall (and the Company shall ensure no member of the Group will)
enter into any transaction with any person except on arm’s length terms or
better (from the Group’s perspective).

(b)                                     The following transactions shall not be a
breach of this Clause 25.12:

(i)                        payment of reasonable fees and costs for non
executive directors of any member of the Group who are nominees of the
Investors;

(ii)                     amounts paid to Sirona Holdings Luxco SCA
under sub-paragraph (b)(iii) of Clause 25.16 (Dividends,
share capital redemptions and payments on subordinated debt);

 95
 

 

(iii)                  the amount envisaged to be paid to the
Investors pursuant to Clause 25.16 (Dividends,
share capital redemptions and payments on subordinated debt);

(iv)                 intra Group loans permitted under Clause
25.14 (Loans and Credit);

(v)                    any payment of Refinancing Costs as envisaged
in the Funds Flow Memorandum;

(vi)                 fees, costs and expenses payable under the
Finance Documents in the amounts set out in the Finance Documents delivered to
the Facility Agent under Clause 4.1 (Initial
Conditions Precedent); and

(vii)              any amounts agreed by the Facility Agent
(acting on the instructions of the Majority Lenders).

25.14               Loans and credit

(a)                                      Unless the Non-Leveraged Criteria has been
met, except as permitted under paragraph (b) below no Obligor shall (and the
Company shall procure that no member of the Group will) make any loans or grant
any credit or make any other financial arrangement having a similar effect.

(b)                                     Paragraph (a) above does not apply to:

(i)                        a loan by an Obligor to an Obligor;

(ii)                     a loan by a member of the Group which is not
an Obligor to a member of the Group;

(iii)                  a loan by an Obligor which is a member of the
Group to a member of the Group which is not an Obligor so long as the aggregate
of the Financial Indebtedness outstanding under all such loans does not exceed
EUR 25,000,000 (or the equivalent thereof in any other currency or currencies)
at any time;

(iv)                 a trade credit granted in the ordinary course
of trading, on arm’s length terms and upon terms usual for such trade, which do
not exceed payment terms of 180 days;

(v)                    a loan made by a member of the Group to
another member of the Group listed in Schedule 13 (Overview Loans and Securities Subsidiaries) up to the amount
listed in such Schedule;

(vi)                 a loan by a member of the Group to the
Company or a Holding Company of the Company in order to enable the Company or
such Holding Company to redeem the share capital in the Company or such Holding
Company held by Senior Management provided
that the aggregate amount of
such loan shall not exceed, when aggregated with the amount of all dividends
declared and/or paid under paragraph (c) of Clause 25.16 (Dividends, share capital redemptions and payments on
subordinated

 96
 

 

debt),
EUR 20,000,000 in any year (or the equivalent thereof in any other currency or
currencies), provided
that no Default is
continuing when, or would occur immediately after, any such payment is made;

(vii)              a loan (in addition to the loans referred to
in sub-paragraphs (i) to (vi) above) made by a member of the Group to any other
person provided that the aggregate amount of all such loans, when
aggregated with the aggregate amount of all other Invested Funds at the time of
such loan, does not exceed the General Investments Threshold, provided further that no Event of Default is outstanding at such
time or would arise as a result thereof.

25.15               No Guarantees or indemnities

In this Clause 25.15 “guarantee” means a guarantee, indemnity, counter indemnity or
other financial arrangement having a similar effect for the benefit of any
person or any other assurance against loss.

(a)                                      Except as permitted under paragraph (b) below
no Obligor shall (and the Company shall procure that no member of the Group
will) give any guarantee in respect of any obligation of any person.

(b)                                     Paragraph (a) does not apply to a guarantee
which is:

(i)                        any guarantee to be given or to remain
outstanding after the Non-Leveraged Criteria has been met;

(ii)                     given in connection with credit granted to a
member of the Group under any deferred purchase agreement entered into in the
ordinary course of trade and upon terms usual for such trade and is:

(A)                a guarantee given by a member of the Group
for the obligations of member of the Group under that deferred purchase
agreement; or

(B)                  a guarantee given by a member of the Group in
respect of a guarantee, indemnity, bond, standby or documentary letter of
credit or other instrument issued by a bank or financial institution (on normal
commercial terms) to support the obligations of a member of the Group under
that deferred purchase agreement;

(iii)                  given by a member of the Group in respect of
the obligations of another member of the Group and would, if it were a loan by
that member of the Group to the other member of the Group, be permitted under
sub-paragraph (b)(ii) to (iii) of Clause 25.14 (Loans and Credit);

(iv)                 a counter-indemnity given in favour
Landesbank Hessen-Thüringen (Helaba) in relation to a guarantee issued by
Landesbank Hessen-Thüringen (Helaba) on account of contingent liabilities of
members of the Group relating to old age part-time work (Altersteilzeit) provided the aggregate
amount (actual and contingent) of such counter-indemnity does 

 97
 

 

not
at any time exceed EUR 3,000,000 (or the equivalent thereof in any other
currency or currencies);

(v)                    a guarantee (other than a guarantee referred
to in sub-paragraphs (i) to (iv) above) granted by a member of the Group in
favour of any other person provided
that the aggregate amount of
all such guarantees, when aggregated with the aggregate amount of all other
Invested Funds at the time of such guarantee, does not exceed the General
Investments Threshold, provided
further that no Event of
Default is outstanding at such time or would arise as a result thereof.

25.16               Dividends, share capital
redemptions and payments on subordinated debt

(a)                                      Unless the Non-Leveraged Criteria has been
met, the Company shall not:

(i)                        declare, make or pay any dividend, charge,
fee or other distribution on or in respect of its share capital (or any class
of its share capital);

(ii)                     repay or distribute any dividend or share
premium reserve;

(iii)                  make any redemption, repurchase, retirement,
disposal, return, repayment or reduction by a company of its share capital and
any redemption or reduction by a company of its capital redemption or other
reserve

(iv)                 pay or allow any member of the Group to pay
any management, advisory or other fee to or to the order of any of its
shareholders.

(b)                                     Paragraph (a) does not apply to:

(i)                        payment of dividends up to a total aggregate
amount equal to 50% of the Group’s distributable profits in each of its
financial years provided
that the ratio of
Consolidated Total Net Debt to Consolidated Adjusted EBITDA is less than 3.00:1
on a pro forma basis and no Event of Default has occurred and is continuing at
the time of such payment or as a result thereof;

(ii)                     payments from the Company to any member of
the Group for the financing of their and any holding company of any member of
the Group’s reasonable ongoing administrative costs (including taxes);

(iii)                  payment to Sirona Holdings Luxco SCA of an
advisory and/or management fee not exceeding in aggregate EUR 500,000 (or the
equivalent thereof in any other currency or currencies) per annum;

(iv)                 payments to any of the Investors of any
reasonable fees in connection with any advice relating to future mergers and
acquisitions;

(v)                    payment of amounts permitted under
sub-paragraph (b)(i) of Clause 25.13 (Arm’s
length basis) and all other reasonable out-of pockets expenses
properly incurred by the board members in relation to the Group or the
Facilities,

 98
 

 

which, in the case of payments under paragraphs (ii)
through to (v), shall be permitted provided
that on the occurrence of an Event of Default which is continuing,
the aggregate amount of all payments under sub-paragraphs (ii), (iii) and (iv)
above shall not in aggregate exceed EUR 1,000,000 per annum (or the equivalent
thereof in any other currency or currencies), (ii) no Event of Default is
continuing or would occur immediately after that payment is made provided further that any such payments
which are not permitted to be made while an Event of Default is continuing
shall continue to accrue and the accrued amount of such payment may
subsequently be paid at any time while no Default is continuing.

(c)                                      Paragraph (a) above shall not apply to any
payment paid by the Company or any member of the Group in order to enable the
redemption of share capital in the Company or any member of the Group held by
Senior Management provided
that the aggregate amount of
such dividend shall not exceed, when aggregated with the amount of all loans
made under sub-paragraph (b)(vi) of Clause 25.14 (Loans and Credit), EUR20,000,000 (or the equivalent thereof
in any other currency or currencies) and provided further no
Default is continuing when or would occur immediately after any such payment is
made.

25.17               Financial Indebtedness

(a)                                      Except as permitted under paragraph (b)
below, no Obligor shall (and the Company shall ensure that no member of the
Group will) incur or allow to remain outstanding any Financial Indebtedness.

(b)                                     Paragraph (a) above does not apply to
Financial Indebtedness which is:

(i)                        monies borrowed or guarantees or indemnities
or counter-indemnities given under the Finance Documents or Financial
Indebtedness under the Ancillary Documents;

(ii)                     monies borrowed or guarantees or indemnities
or counter indemnities given under the Existing Senior Facility Agreement
and/or Existing Mezzanine Facility Agreement provided that all
amounts outstanding under such agreements shall be repaid in full on the
Closing Date;

(iii)                  any Financial Indebtedness under the lease
agreement related to the Permitted Bensheim Disposal;

(iv)                 any Financial Indebtedness disclosed in
Schedule 13 (Overview Loans and Securities
Subsidiaries) or approved by the Majority Lenders;

(v)                    monies borrowed under a loan from another
member of the Group which is permitted under Clause 25.14 (Loans and Credit), a guarantee in respect
of Financial Indebtedness of another member of the Group which is permitted
under sub-paragraph (b)(iii) of Clause 25.15 (No
Guarantees or indemnities) or any other guarantee, indemnity or
counter indemnity by a member of the Group which is permitted under Clause
25.15 (No Guarantees or indemnities);

 99
 

 

(vi)                 indebtedness covered by a Bank Guarantee or
by a letter of credit, guarantee or indemnity issued under an Ancillary
Facility;

(vii)              Financial Indebtedness owed by any member of
the Group incorporated or operating in Japan and/or China pursuant to a
revolving credit facility agreement provided such Financial Indebtedness exists
as at the date hereof and does not and shall not at any time exceed
EUR3,000,000 (or the equivalent thereof in any other currency or currencies);

(viii)           Financial Indebtedness in respect of any
derivative transaction permitted under Clause 25.12 (Treasury Transactions);

(ix)                   the issue of the Patterson Note where such
issue takes place after 30 September 2007; and

(x)                      indebtedness additional to that referred to
in sub-paragraphs (i) to (ix) of this Clause 25.17 and which does not exceed
EUR 150,000,000 (or, if the Non-Leveraged Criteria has been met,
EUR 200,000,000. Upon the utilisation of any Incremental Loan under the Incremental
Facility the basket referred to in this paragraph (x) shall be reduced by the
amount of such Incremental Loan (or its equivalent in any other currency or
currencies) in an aggregate principal amount for the Group taken as a whole.  For the purposes of determining whether the
monetary limit in this paragraph (x) has been exceeded any guarantee, indemnity
or counter indemnity obligation in respect of other forms of Financial
Indebtedness falling within this paragraph (x) shall not be double counted.

25.18               Insurance

The Company shall ensure that the Group maintains
insurances which are at least at the levels and provide for coverages
consistent with recent historical practices as at the Closing Date.

25.19               Pensions

(a)                                      The Company shall ensure that adequate
contributions are made to pension schemes operated by or maintained for the
benefit of members of the Group and/or any of its employees and such pension
schemes are fully funded (where required by law) based on reasonable actuarial
assumptions and recommendations and are operated or maintained as required by
law in each case where failure to do so would likely have a Material Adverse
Effect.

(b)                                     The Company shall deliver to the Facility
Agent upon its reasonable request during the continuance of a Default, and in
any event at such time as those reports are prepared in order to comply with
the then current statutory or auditing requirements, actuarial reports in
relation to those pension schemes.

25.20               Access

Each Obligor shall (and the Company shall ensure that
each member of the Group shall) permit the Facility Agent and/or their
accountants or other professional advisers and contractors free access at all
reasonable times when an Event of Default is continuing and when the Facility
Agent believes that an Event of Default may be continuing on

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reasonable grounds, on reasonable notice and during
normal business hours to (a) inspect and (subject to the reasonable
requirements of client confidentiality and business secrecy) take copies and
extracts from the books, accounts and records of each member of the Group, (b)
meet and discuss matters with Senior Management. The costs of investigation
pursuant to this clause are to be borne by the Lenders if the investigation
shows that no Event of Default had occurred but otherwise the costs shall be
borne by the Company.

25.21               Intellectual property

The Company shall procure that the Group shall, save
where failure to do so is not likely to have a Material Adverse Effect:

(a)                                      preserve and maintain the subsistence and
validity of the Intellectual Property and use reasonable endeavours to maintain
and preserve all other Intellectual Property with the care of an orderly acting
merchant (Sorgfalt eines ordentlichen
Kaufmannes) carrying on a similar business to the Group would use;

(b)                                     use reasonable endeavours to prevent any
infringement in any material respect of that Intellectual Property;

(c)                                      make registrations and pay all registration
fees and taxes necessary to maintain that Intellectual Property in full force
and effect and record its interest in that Intellectual Property;

(d)                                     not use or permit that Intellectual Property
to be used in a way or take any step or omit to take any step in respect of
that Intellectual Property which may materially and adversely affect the existence
or value of that Intellectual Property or imperil the right of any member of
the Group to use such property; and

(e)                                      not discontinue the use of that Intellectual
Property.

25.22               Amendments

No Obligor shall (and the Company shall ensure that no
member of the Group will) amend, vary, novate, supplement, supersede, waive or
terminate any document delivered to the Facility Agent pursuant to Clause 4.1 (Initial Conditions Precedent) unless such
amendment, variation, novation, supplement, superseding, waiver or termination
is not materially prejudicial to the Lenders.

25.23               Guarantors

(a)                                      Subject to the Guarantee Principles, the
Company shall ensure that the test set out in paragraph (b) below will be
complied with on the date falling 30 days following the Closing Date and
thereafter on each (latest permitted) date for delivery of the Semi-Annual
Financial Statements.

(b)                                     Subject to the
Guarantee Principles, the Company shall ensure that as at the end dates
described in paragraph (a):

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(i)                        the aggregate of the earnings (calculated on
the same basis as Consolidated Adjusted EBITDA) of each of the Guarantors shall
account for at least 80% of the Group’s Consolidated Adjusted EBITDA on the
Closing Date; and

(ii)                     the aggregate Gross Assets of the Guarantors shall account for at least
80% of the value of the Group’s consolidated Gross Assets,

each
as determined by reference to the most recent Compliance Certificate supplied
by the Company and/or the latest audited annual and unaudited half yearly
financial statements of that Subsidiary and of the Group.

25.24               Accounting
reference date and auditors

(a)                                      The Company shall procure that it retains 30
September as its accounting reference date and shall not change its accounting
reference date without the consent of the Majority Lenders.

(b)                                     Neither the Company nor any Obligor shall
(and the Company shall procure that no member of the Group will) change its
auditors other than to one of the internationally recognized “big four” firm of accountants or with the prior
written consent of the Majority Lenders.

25.25               ERISA

No
Obligor shall establish, become party to or incur any liability under or permit
any of its ERISA Affiliates to establish, become party to or incur any
liability under any employee benefit plan of the type referred to in Clause
22.20 (ERISA) where to do so
would likely have a Material Adverse Effect.

25.26               Limitation
on Lenders’ Control over German Obligors

(a)                                      Notwithstanding Clause 25 (General Undertakings) above, the
provisions of Clauses 25.5 (Merger),
Clause 25.6 (Change of Business),
25.13 (Arm’s Length Basis) and
25.24 (Accounting Reference Date and
Auditors), (the “Relevant
Restrictive Covenants”)
shall not apply to any member of the Group whose Relevant Jurisdiction is
Germany (together the “German
Group”).

(b)                                     The Company shall give the Facility Agent no
less than ten Business Days’ prior written notice of the intention of it or any
other member of the German Group to carry out any of the acts or take any of
the steps referred to in the Relevant Restrictive Covenants.

(c)                                      The Facility Agent shall be entitled, within
ten Business Days of receipt of the Company notice under paragraph (b) above,
to request the relevant member of the German Group to supply to the Facility
Agent in sufficient copies for the Lenders any relevant information in
connection with the proposed action or steps referred to in such notice.

(d)                                     The Facility Agent shall notify the Company,
within ten Business Days of receipt of the Company notice under paragraph (b)
above or if additional information has been requested by the Facility Agent
within the prescribed time, within ten Business Days of receipt of such
information, whether the proposed 

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action or steps under paragraph (a) above is or is, in the reasonable opinion
of the Facility Agent, acting on the instruction of the Majority Lenders, a
Material Adverse Effect.

(e)                                      If the proposed action or step under
paragraph (a) above is so considered by the Facility Agent to have a Material
Adverse Effect and the relevant member of the German Group nevertheless takes
such action or steps under paragraph (a) above, the Facility Agent shall be
entitled to make (and, if so instructed by the Majority Lenders shall make) the
declaration, request and/or instruction set out in Clause 26.18 (Acceleration) after the expiry of any
notice or grace periods which would be applicable to such action but for this
Clause 25.26.

25.27               Compliance
with U.S. Exclusivity Agreement

(a)                                      No Obligor shall take any action or omit to
take any action which would give rise to a termination of the U.S. Exclusivity
Agreement or which would result in liquidated damages becoming payable under
such agreement at any time on or before 30 September 2007 if such event would
reasonably likely to have a Material Adverse Effect.

(b)                                     In the event that liquidated damages becomes
payable, then to the extent Sirona Dental Systems GmbH is entitled, it shall
satisfy its liability by procuring that Sirona Holdings Luxco SCA or a member
of the Group issue preferred equity certificates or junior subordinated
promissory notes as contemplated by Section IX(A) of the U.S. Exclusivity
Agreement or in the event that liquidated damages are payable in circumstances
contemplated by Section IX(D) of the U.S. Exclusivity Agreement, the Patterson
Note provided that if such preferred equity certificates or
junior subordinated promissory notes or the Patterson Note are issued by a
member of the Group, the Company and the Facility Agent on behalf of the
Lenders shall enter into good faith negotiations to find terms acceptable to
the Company, the Majority Lenders and Patterson Companies, Inc. (“Patterson”) for subordination of Patterson’s claims
under the U.S. Exclusivity Agreement to those of the Finance Partiers under the
Finance Documents.

25.28               Federal
Reserve Regulations

Each
U.S. Borrower will use the Facilities without violating Regulations T, U and X.

25.29               Compliance
with U.S. Regulations

No
Obligor shall (and the Company shall ensure that no other member of the Group
will) become an “investment company” as such term is defined in the 1940 Act or
otherwise subject to regulation under the 1940 Act.  Neither the making of any Loan, or the
application of the proceeds or repayment of any Loan by any Obligor nor the
consummation of the other transactions contemplated by this agreement will
violate any provision of such act or any rule, regulation or order of the SEC
under the 1940 Act.

25.30               Anti-Money
Laundering

Each
Obligor will use commercially reasonable efforts to ensure that no funds used
to pay the obligations under the Finance Documents are derived from any
unlawful activity.

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25.31               Pooling
agreements

The
Company shall procure that:

(a)                                      the Pooling Agreements provide for the right
of its cancellation by the Company;

(b)                                     the Pooling Agreements shall remain in place
and be maintained in full force and effect until the Termination Date, unless
otherwise agreed by the Facility Agent; and

(c)                                      Original Borrower terminates the Pooling
Agreements upon the request of the Facility Agent without undue delay provided
that an Event of Default has occurred.

26.                           EVENTS OF DEFAULT

Each
of the events or circumstances set out in this Clause 26 is an Event of
Default.

26.1                     Non payment

An
Obligor or any other party to a Finance Document (other than a Finance Party)
does not pay on the due date any amount payable pursuant to a Finance Document
at the place at and in the currency in which it is expressed to be payable
unless:

(a)                                      its failure to pay is caused by
administrative or technical error; and

(b)                                     payment is made within five Business Days of
its due date.

26.2                     Financial Covenants

Any
requirement of Clause 24 (Financial
Covenants) is not satisfied.

26.3                     Other obligations

(a)                                      An Obligor or any other party to a Finance
Document (other than a Finance Party) does not comply with any provision of the
Finance Documents (other than those referred to in Clause 26.1 (Non payment)) and Clause 26.2 (Financial covenants).

(b)                                     No Event of Default (resulting from a
requirement under Clause 25.22 (Guarantors)
not being satisfied) under paragraph (a) above will occur if the failure to
satisfy such requirement is capable of remedy and is remedied within 5 Business
Days of the earlier of the Facility Agent giving notice to the Company or the
Company or an Obligor becoming aware of the failure to comply.

(c)                                      No Event of Default under paragraph (a) above
(other than any Event of Default referred to in paragraph (b) above) will occur
if the failure to comply is capable of remedy and is remedied within 20
Business Days of the earlier of the Facility Agent giving notice to the Company
or the Company or an Obligor becoming aware of the failure to comply.

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26.4                     Misrepresentation

Any
representation or statement made or repeated by an Obligor or any other party
to a Finance Document (other than a Finance Party) in the Finance Documents or
in any other document delivered by or on behalf of it under or in connection
with any Finance Document is or proves to have been incorrect or misleading in
any material respect when made or repeated and the circumstances causing such
misrepresentation are not remedied (if capable of being remedied) within 20
Business Days of the earlier of the Company or any Obligor becoming aware
thereof or notice thereof to the Company by the Facility Agent.

26.5                     Cross default

(a)                                      Any Financial Indebtedness of any member of
the Group is not paid when due nor within any originally applicable grace
period.

(b)                                     Any Financial Indebtedness of any member of
the Group is declared to be or otherwise becomes due and payable prior to its
specified maturity as a result of an event of default (however described).

(c)                                      Any commitment for any Financial Indebtedness
of any member of the Group is cancelled or suspended by a creditor of any
member of the Group as a result of an event of default (however described).

(d)                                     Any creditor of any member of the Group
becomes entitled to declare any Financial Indebtedness of any member of the
Group due and payable prior to its specified maturity as a result of an event
of default (however described).

(e)                                      No Event of Default will occur under this
Clause 26.5 if the aggregate amount of Financial Indebtedness or commitment for
Financial Indebtedness falling within paragraphs (a) to (d) above is less than
EUR 25,000,000 (or its equivalent in any other currency or currencies).

26.6                     Insolvency

(a)                                      Any Material Company or any Borrower is
unable or admits inability to pay its debts as they fall due or is deemed or
declared under applicable law to be unable to pay its debts, suspends making
payments on its debts generally or, by reason of actual or anticipated
financial difficulties, commences negotiations with one or more of its
creditors with a view to rescheduling any of its indebtedness.

(b)                                     The value of the assets of any Material
Company or any Borrower is less than its liabilities (taking into account
contingent and prospective liabilities “Fortführungsprognose”)
where the Relevant Jurisdiction of the company is Germany or any other
jurisdiction where this would be a ground for the filing for insolvency
proceedings.

(c)                                      A moratorium is declared in respect of any
indebtedness of any Material Company or any Borrower.

(d)                                     For the purposes of this Clause 26.6, “Material Company” shall be deemed not to include any person
referred to in paragraph (a) of the definition of “Material 

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Company”
(other than any Borrower) and the figure 5% in paragraphs (b)(i) and (b)(ii) of
the definition of Material Company shall be adjusted to read 7.5%.

(e)                                      Any Obligor shall in any U.S. jurisdiction:

(i)                        apply for, or consent to, the appointment of,
or the taking of possession by, a receiver, custodian, trustee, examiner or
liquidator of itself or of all or a substantial part of its property;

(ii)                     make a general assignment for the benefit of
its creditors;

(iii)                  commence a voluntary case under Title 11 of
the United States of America Code entitled Bankruptcy (or any successor
thereof), as amended;

(iv)                 file a petition with respect to itself
seeking to take advantage of any other law relating to bankruptcy, insolvency,
reorganisation, liquidation, dissolution, arrangement or winding up, or
composition or readjustment of debts; or

(v)                    take any corporate action for the purpose of
effecting any of the foregoing with respect to itself.

26.7                     Insolvency proceedings

(a)                                      Any corporate action, legal proceedings or
other procedure or step is taken in relation to:

(i)                        the suspension of payments, a moratorium of
any indebtedness, winding up, dissolution, administration or reorganisation (by
way of voluntary arrangement, scheme of arrangement or otherwise) of any
Borrower or any Material Company;

(ii)                     a composition, assignment or arrangement with any creditor of any
Borrower or any Material Company; or

(iii)                  the
appointment of a liquidator, receiver, administrator, administrative receiver,
compulsory manager or other similar officer in respect of any Borrower or any
Material Company,

or
any analogous procedure or step is taken in any jurisdiction.

(b)                                     Paragraph (a) above shall not apply to any
proceedings which are (i) being contested in good faith or dismissed within 20
Business Days of commencement or (ii) the amount of the debt that is the
subject of such proceedings is less than EUR 25,000,000 (or its equivalent
in any other currency or currencies).

(c)                                      For the purposes of this Clause 26.7, “Material Company” shall be deemed not to include any person
referred to in paragraph (a) of the definition of “Material Company”
(other than any Borrower) and the figure 5% in paragraphs (b)(i) and (b)(ii) of
the definition of Material Company shall be adjusted to read 7.5%.

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(d)                                     In respect of any Obligor, a proceeding or
case shall be commenced, without the application or consent of such Obligor, in
any US court of competent jurisdiction, seeking:

(i)                        its reorganisation, liquidation, dissolution,
arrangement or winding-up or the composition or readjustment of its debts;

(ii)                     the appointment of a receiver, custodian, trustee, examiner, liquidator
or the like of the Obligor or of all or any substantial part of its property;
or

(iii)                  similar
relief in respect of any Obligor under any law relating to the bankruptcy
insolvency, reorganisation, winding-up or composition or adjustment of debts,

and
any such proceeding or case referred to in sub-paragraphs (i)-(iii) above shall
not be contested in good faith within 20 Business Days of commencement or shall
continue undismissed, or an order, judgment or decree approving or ordering any
of the foregoing shall be entered and continue unstayed and in effect, for a
period of 60 or more days, or an order for relief against such Obligor shall be
entered in an involuntary case under Title 11 of the United States of America
Code entitled Bankruptcy (or any successor thereto) as amended.

26.8                     Creditors’ process

(a)                                      Any enforcement of Security or any
expropriation, attachment, sequestration, distress or execution or any
analogous process in any jurisdiction affects any asset or assets of a Material
Company with an aggregate value in excess of EUR 25,000,000 and is not
discharged within 20 Business Days, provided such proceedings are contested in
good faith.

(b)                                     For the purpose of this Clause 26.8 “Material Company” shall be deemed not to include any person
referred to in paragraph (a) of the definition of “Material Company”
(other than any Borrower) and the figure 5% in paragraphs (b)(i) and (b)(ii) of
the definition of Material Company shall be adjusted to read 7.5%

26.9                     Unlawfulness and invalidity

(a)                                      It is or becomes unlawful for an Obligor or
any other party to a Finance Document (other than a Finance Party) to perform
any of its material obligations under the Finance Documents.

(b)                                     Any obligation or obligations of any Obligor
or any other party to a Finance Document (other than a Finance Party) under any
Finance Documents are not or cease to be legal, valid, binding or enforceable
and the cessation individually or cumulatively materially and adversely effects
the interests of the Lenders under the Finance Documents.

(c)                                      Any Finance Document ceases to be in full
force and effect.

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26.10               Subordination
Agreement

(a)                                      Any party to the Subordination Agreement
(other than a Finance Party or a member of the Group) fails to comply with any
material provision of, or does not perform any material obligation under, the
Subordination Agreement; or

(b)                                     a representation or warranty given by that party
in the Subordination Agreement is incorrect in any material respect,

and,
if the non compliance or circumstances giving rise to the misrepresentation are
capable of remedy, it is not remedied within 20 Business Days of the earlier of
the Facility Agent giving notice to that party or that party becoming aware of
the non compliance or misrepresentation.

26.11               Repudiation

An
Obligor (or any other relevant party other than a Finance Party) repudiates
Finance Document or evidences an intention to repudiate a Finance Document.

26.12               Cessation
of business

The
Group ceases to carry on the business of the Group as a whole.

26.13               Audit
qualification

The
auditors of the Group qualify the audited annual consolidated financial
statements of the Company and:

(a)                                      the qualification is made because those
auditors did not have access to information; and

(b)                                     the qualification is materially adverse to
the Finance Parties’ interests in the context of the Finance Documents and the
transactions contemplated in those documents.

26.14               Expropriation

The
authority or ability of any Obligor or other Material Company to conduct its
business is limited or wholly or substantially curtailed by any seizure,
expropriation, nationalisation, intervention, restriction or other action by or
on behalf of any governmental, regulatory or other authority or other person in
relation to it or any of its assets where such curtailment would likely have a
Material Adverse Effect.

26.15               Litigation

Any
litigation, arbitration, administrative, governmental, regulatory or other
investigations, proceedings or disputes are commenced or threatened against any
member of the Group or its assets which are likely to be adversely determined
and, if adversely determined, would be likely to have a Material Adverse Effect.

26.16               Payment
of liquidated damages under U.S. Exclusivity Agreement

Any
liquidated damages becomes payable by Sirona Dental Systems GmbH to Patterson
Companies, Inc. under the U.S. Exclusivity Agreement at any time on or before
30 September 2007 if such event would have a Material Adverse Effect.

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26.17               Material
adverse change

Any
event or series of events or circumstance which has a Material Adverse Effect
(within the meaning of paragraph (a) or (b) of the definition of “Material Adverse Effect”) occurs after the
date hereof.

26.18               Acceleration

On
and at any time after the occurrence of an Event of Default which is continuing
the Facility Agent may, and shall if so directed by the Majority Lenders, by
notice to the Company:

(a)                                      cancel the Total Commitments and/or Ancillary
Commitments whereupon they shall immediately be cancelled and any fees payable
under the Finance Documents in connection with those Commitments or Ancillary
Commitments shall be immediately due and payable;

(b)                                     declare that all or part of the Utilisations,
together with accrued interest, and all other amounts accrued under the Finance
Documents be immediately due and payable, whereupon they shall become
immediately due and payable;

(c)                                      declare that all or part of the Utilisations
be payable on demand, whereupon they shall immediately become payable on demand
by the Facility Agent on the instructions of the Majority Lenders;

(d)                                     declare all or any part of the amounts
outstanding under the Ancillary Facilities to be immediately due and payable
(whereupon the same shall become so payable together with accrued interest,
commissions, fees or like charges on such facilities and any other sums then
owed by the Obligors under the Ancillary Documents or this Agreement);

(e)                                      declare that full cash cover in respect of
each Bank Guarantee is immediately due and payable whereupon it shall become
immediately due and payable;

(f)                                        declare that all or any part of the amounts
outstanding under the Ancillary Facilities be payable on demand, whereupon they
shall immediately become payable on demand by the Facility Agent on the
instructions of the Majority Lenders; and/or

(g)                                     exercise any or all of its rights, remedies,
powers or discretions under the Finance Documents;

provided, however, that if an Event of Default under Clause 26.6 (Insolvency) or Clause 26.7 (Insolvency Proceedings) shall occur in
respect of any Obligor, then without notice to such Obligor or any other act by
the Facility Agent or any other person, the Loans to such Obligor, interest
thereon and all other amounts owed by such Obligor under the Finance Documents
shall become immediately due and payable without presentment, demand, protest
or notice of any kind, all of which are expressly waived.

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26.19               Certain
Funds Period

During
the Certain Funds Period unless a Certain Funds Default (which is also an Event
of Default) has occurred and is continuing, none of the Finance Parties shall
be entitled to:

(a)                                      cancel any of its Commitments under Facility
A1 and/or Facility A2;

(b)                                     rescind, terminate or cancel this Agreement
or Facility A1 and/or Facility A2;

(c)                                      require repayment of any Facility A1 Loan
and/or Facility A2 Loan;

(d)                                     refuse to participate in the making of any
Utilisation under Facility A1 and/or Facility A2;

(e)                                      exercise any right of set off or counterclaim
in respect of any Utilisation under Facility A1 and/or Facility A2,

provided that immediately upon the expiry of the Certain Funds Period all such
rights, remedies and entitlements shall be available to the Finance Parties
notwithstanding that they may not have been used or been available for use
during the Certain Funds Period.

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SECTION 9

CHANGES TO
PARTIES

27.                           CHANGES TO THE LENDERS

27.1                     Assignments and transfers by the
Lenders

Subject
to this Clause 27, a Lender (the “Existing
Lender”) may:

(a)                                      assign any of its rights; or

(b)                                     transfer by novation any of its rights and
obligations,

under
any Finance Document to another bank or financial institution or to a trust,
fund or other entity which is regularly engaged in or established for the
purpose of making, purchasing or investing in loans, securities or other
financial assets (a “New Lender”)
provided that such assignment or transfer shall be in a minimum aggregate
amount of EUR 5,000,000 or USD equivalent thereof.

27.2                     Conditions of assignment,
transfer

(a)                                      Notwithstanding any other provision of this
Agreement, the consent of the Issuing Bank is required for any assignment,
transfer of any Lender’s rights and/or obligations under the Revolving
Facility.

(b)                                     An assignment will only be effective on:

(i)                        consent to such assignment by the Company
(such consent not to be unreasonably withheld and deemed to be given if not
expressly refused within 8 Business Days);

(ii)                     receipt by the Facility Agent and written confirmation from the New
Lender (in form and substance satisfactory to the Facility Agent) that the New
Lender will assume the same obligations to the other Finance Parties and the
other Finance Parties as it would have been under if it was an Original Lender;

(iii)                  the
performance by the Facility Agent of all “know your customer”
or other checks relating to any person that it is required to carry out in
relation to such assignment to a New Lender.

(c)                                      A transfer will only be effective:

(i)                        on consent to such transfer by the Company (such
consent not to be unreasonably withheld and deemed to be given if not expressly
refused within 8 Business Days);

(ii)                     if the procedure set out in Clause 27.5 (Procedure for transfer) is complied with.

(d)                                     Sub-paragraphs (b)(i) and (c)(i) above shall
not apply where a transfer is to another Lender, an Affiliate of a Lender,
where the Lender is a fund, to a Related Fund or when an Event of Default is
continuing.

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(e)                                      If:

(i)                        a Lender assigns or transfers any of its
rights or obligations under the Finance Documents or changes its Facility
Office; and

(ii)                     as a result of circumstances existing at the date the assignment,
transfer or change occurs, an Obligor would be obliged to make a payment to the
New Lender or Lender acting through its new Facility Office under Clause 16 (Tax gross up and indemnities) or Clause 17
(Increased costs),

then
the New Lender or Lender acting through its new Facility Office is only
entitled to receive payment under those Clauses to the same extent as the
Existing Lender or Lender acting through its previous Facility Office would
have been if the assignment, transfer or change had not occurred.

27.3                     Assignment or transfer fee

The
New Lender shall, on the date upon which an assignment or transfer takes
effect, pay to the Facility Agent (for its own account) a fee of EUR 1,500
except no such fee shall be payable in connection with an assignment or
transfer to a New Lender upon primary syndication of the Facilities or upon the
assignment or transfer to an Affiliate of a Lender or a Related Fund.

27.4                     Limitation of responsibility of
Existing Lenders

(a)                                      Unless expressly agreed to the contrary, an
Existing Lender makes no representation or warranty and assumes no
responsibility to a New Lender for:

(i)                        the legality, validity, effectiveness,
adequacy or enforceability of the Finance Documents or any other documents;

(ii)                     the financial condition of any Obligor;

(iii)                  the
performance and observance by any Obligor or any other party (other than a
Finance Party) of its obligations under the Finance Documents or any other
documents; or

(iv)                 the
accuracy of any statements (whether written or oral) made in or in connection
with any Finance Document or any other document,

and
any representations or warranties implied by law are excluded.

(b)                                     Each New Lender confirms to the Existing
Lender and the other Finance Parties that it:

(i)                        has made (and shall continue to make) its own
independent investigation and assessment of the financial condition and affairs
of each Obligor and its related entities in connection with its participation
in this Agreement and has not relied exclusively on any information provided to
it by the Existing Lender or any other Finance Party in connection with any
Finance Document; and

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(ii)                     will continue to make its own independent appraisal of the
creditworthiness of each Obligor and its related entities whilst any amount is
or may be outstanding under the Finance Documents or any Commitment is in
force.

(c)                                      Nothing in any Finance Document obliges an
Existing Lender to:

(i)                        accept a re transfer from a New Lender of any
of the rights and obligations assigned or transferred under this Clause 27; or

(ii)                     support any losses directly or indirectly incurred by the New Lender by
reason of the non performance by any Obligor of its obligations under the
Finance Documents or otherwise.

27.5                     Procedure for transfer

(a)                                      Subject to the conditions set out in Clause
27.2 (Conditions of assignment or transfer)
a transfer is effected in accordance with paragraph (c) below when the Facility
Agent executes an otherwise duly completed Transfer Certificate delivered to it
by the Existing Lender and the New Lender and the Facility Agent makes a
corresponding entry in the Register pursuant to Clause 27.8 (The Register).  The Facility Agent shall, as soon as
reasonably practicable after receipt by it of a duly completed Transfer
Certificate appearing on its face to comply with the terms of this Agreement
and delivered in accordance with the terms of this Agreement, execute that
Transfer Certificate and make such corresponding entry in the Register.

(b)                                     The Facility Agent shall only be obliged to
execute a Transfer Certificate delivered to it by the Existing Lender and the
New Lender and make such corresponding entry in the Register once it is
satisfied it has complied with all necessary “know your customer”
or similar other checks under all applicable laws and regulations in relation
to the transfer to such New Lender.

(c)                                      On the Transfer Date:

(i)                        to the extent that in the Transfer
Certificate the Existing Lender seeks to transfer its rights and obligations by
novation under the Finance Documents each of the Obligors and any other party
to a Finance Document (other than a Finance Party) and the Existing Lender
shall be released from further obligations towards one another under the
Finance Documents and their respective rights against one another under the
Finance Documents shall be cancelled (being the “Discharged Rights and Obligations”);

(ii)                     each of the Obligors and any other party to a Finance Document (other
than a Finance Party) and the New Lender shall assume obligations towards one
another and/or acquire rights against one another which differ from the
Discharged Rights and Obligations only insofar as that Obligor or other member
of the Group and the New Lender have assumed and/or acquired the same in place
of that Obligor and the Existing Lender;

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(iii)                  the
Facility Agent, the Mandated Lead Arrangers, the New Lender, the other Lenders,
the Issuing Bank and any relevant Ancillary Lender shall acquire the same
rights and assume the same obligations between themselves and in respect of the
Finance Documents as they would have acquired and assumed had the New Lender
been an Original Lender with the rights, and/or obligations acquired or assumed
by it as a result of the transfer and to that extent the Facility Agent, the
Mandated Lead Arrangers, the Issuing Bank and any relevant Ancillary Lender and
the Existing Lender shall each be released from further obligations to each
other under this Agreement; and

(iv)                 the
New Lender shall become a Party as a “Lender”.

27.6                     Disclosure of information

(a)                                      Any Lender may disclose to any of its
Affiliates and any other person:

(i)                        to (or through) whom that Lender assigns or
transfers (or may potentially assign or transfer) all or any of its rights and
obligations under the Finance Documents and who has executed a confidentiality
agreement;

(ii)                     with (or through) whom that Lender enters into (or may potentially
enter into) any sub participation in relation to, or any other transaction
under which payments are to be made by reference to, the Finance Documents or
any Obligor and who has executed a confidentiality agreement; or

(iii)                  to
whom, and to the extent that, information is required to be disclosed by any
applicable law or regulation; and

(b)                                     any Finance Party may disclose to a rating
agency on a confidential basis,

any
information about any Obligor, the Group and the Finance Documents as that
Lender shall consider appropriate.

27.7                     Assignment to Federal Reserve
Bank

Any
Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement, without notice to or consent of any
Party, to any U.S. Federal Reserve Bank provided
that (i) no Lender shall be relieved of any of its obligations under
this Agreement as a result of any such assignment and pledge and (ii) in no
event shall such U.S. Federal Reserve Bank be considered to be a “Lender” or be
entitled to require the assigning Lender to take or omit to take any action
under this Agreement.

27.8                     The Register

The
Facility Agent, acting solely for this purpose as an agent of the Obligors,
shall maintain at one of its offices a copy of each Transfer Certificate
delivered to it and a register (the “Register”)
for the recordation of the names and addresses of each Lender and the
Commitments of and obligations owing to each Lender.  Without limitation of any other provision of
this Clause 27 (Changes to the Lenders),
no transfer or assignment shall be effective until recorded in the Register.  The entries in the Register shall be
conclusive absent manifest error and each Obligor, the Agent and each Lender
may treat 

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each
person whose name is recorded in the Register as a Lender notwithstanding any
notice to the contrary.  The Register shall
be available for inspection by each Obligor at any reasonable time and from
time to time upon reasonable prior notice.

28.                           CHANGES TO THE OBLIGORS

28.1                     Assignment and Transfers by
Obligors

No
Obligor may assign any of its rights or transfer any of its rights or
obligations under the Finance Documents.

28.2                     Additional Borrowers

(a)                                      Subject to compliance with the provisions of
paragraphs (c) and (d) of Clause 23.7 (“Know
your customer” checks), the Company may request that any of its
wholly owned Subsidiaries becomes an Additional Borrower.  That Subsidiary shall become an Additional
Borrower if:

(i)                        that Subsidiary is incorporated in the same
jurisdiction as another approved or existing Borrower; or

(ii)                     the Majority Lenders consent to that Subsidiary becoming a Borrower
(such consent not to be unreasonably withheld) provided that no
Lender shall be required to make any Loan to a Borrower if the making of such
Loan is prohibited by law or regulation applicable to the relevant Lender; and

(iii)                  the
Company delivers to the Facility Agent a duly completed and executed Accession
Letter;

(iv)                 the
Company confirms that no Default is continuing or would occur as a result of
that Subsidiary becoming an Additional Borrower; and

(v)                    the Facility Agent has received all of the
documents and other evidence listed in Part II of Schedule 2 (Conditions Precedent Required to be Delivered by an
Additional Obligor) in relation to that Additional Borrower, each in
form and substance satisfactory to the Facility Agent (acting reasonably).

(b)                                     The Facility Agent shall notify the Company
and the Lenders promptly upon having received (in form and substance
satisfactory to it (acting reasonably)) all the documents and other evidence
listed in Part II of Schedule 2 (Conditions
Precedent Required to be Delivered by an Additional Obligor).

28.3                     Resignation of an Obligor

(a)                                      In this Clause 28.3, “Third Party Disposal” means the disposal of an Obligor to a
person which is not a member of the Group.

(b)                                     Borrowers (other than Schick Technologies,
Inc. and Sirona Dental Systems GmbH) may resign as Borrowers if no amounts
borrowed by such Borrower is outstanding and by delivering a Resignation Letter
to the Facility Agent.

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(c)                                      Guarantors (other than the Company, Schick
Technologies, Inc., Sirona Dental Systems GmbH and Sirona Holding GmbH) may
resign by delivering a Resignation Letter to the Facility Agent and if the
Guarantor coverage test in Clause 25.24 (Accounting
reference date and auditors) will continue to be met following such
resignation.

(d)                                     The Facility Agent shall accept a Resignation
Letter and notify the Company and the Lenders of its acceptance if:

(i)                        the Company has confirmed that no Default is
continuing or would result from the acceptance of the Resignation Letter; and

(ii)                     where the Obligor is:

(A)                a Borrower, it is under no actual or
contingent obligations as a Borrower under any Finance Documents; or

(B)                  a Guarantor, no payment is due from a
Guarantor under Clause 21.1 (Guarantee
and Indemnity); or

(iii)                  where
such Obligor is both a Borrower and a Guarantor the Company has confirmed that
either:

(A)                such Obligor is subject to a Third Party
Disposal and its obligations in its capacity as Guarantor continue to be legal,
valid, binding and enforceable and in full force and effect and the amount
guaranteed by it as a Guarantor is not decreased; or

(B)                  each of the conditions set out in
sub-paragraph (d)(ii) applies; and

(e)                                      Upon notification by the Facility Agent to
the Company of its acceptance of the resignation of a Borrower or a Guarantor,
that company shall cease to be a Borrower or a Guarantor and shall have no
further rights or obligations under the Finance Documents as a Borrower or a
Guarantor.

(f)                                        The resignation of an Obligor which is the
subject of a Third Party Disposal shall not be effective until the date of that
disposal whereupon that company shall cease to be an Obligor and shall have no
further rights or obligations under the Finance Documents as an Obligor.

28.4                     Guarantors

(a)                                      Subject to compliance with the provisions of
paragraphs (c) and (d) of Clause 23.7 (“Know
your customer” checks), the Company may request that any of its
wholly owned Subsidiaries become a Guarantor.

(b)                                     The Company shall ensure that each member of
the Group identified in Clause 25.23 (Guarantors)
as a Guarantor shall become a Guarantor.

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(c)                                      A member of the Group shall become a
Guarantor if:

(i)                        the Company delivers to the Facility Agent a
duly completed and executed Accession Letter; and

(ii)                     the Facility Agent has received all of the documents and other evidence
listed in Part II of Schedule 2 (Conditions
Precedent Required to be Delivered by an Additional Obligor) in
relation to that Guarantor, each in form and substance satisfactory to the
Facility Agent (acting reasonably).

(d)                                     The Facility Agent shall notify the Company
and the Lenders promptly upon having received (in form and substance
satisfactory to it (acting reasonably)) all the documents and other evidence
listed in Part II of Schedule 2 (Conditions
Precedent Required to be Delivered by an Additional Obligor).

(e)                                      The Facility Agent may (but shall not be
obliged to) agree a limit on the amount of the liability of the potential
Guarantor or other changes to the Finance Documents which in the opinion of the
Facility Agent, based on the advice of its legal counsel, are necessary or
advisable to overcome a prohibition referred to in the Guarantee Principles or
a risk that a guarantee by the potential Guarantor will not be legal, valid,
binding, enforceable and effective.  The
cost of the advice of legal counsel obtained pursuant to this paragraph (e)
shall be for the account of the Company.

28.5                     Repetition of Representations

When
delivering an Accession Letter the relevant Subsidiary shall confirm that the
Repeating Representations are true and correct in relation to it as at the date
of delivery as if made by reference to the facts in all material respects and
circumstances then existing.

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SECTION 10

THE FINANCE
PARTIES

29.                           ROLE OF THE FACILITY AGENT,
THE MANDATED LEAD ARRANGERS, THE ISSUING BANK AND OTHERS

29.1                     Appointment of the Facility Agent

(a)                                      Each of the Mandated Lead Arrangers, the
Lenders and the Issuing Bank appoints the Facility Agent to act as its agent
under and in connection with the Finance Documents.

(b)                                     Each of the Mandated Lead Arrangers, the
Lenders and the Issuing Bank authorises the Facility Agent to:

(i)                        exercise the rights, powers, authorities and
discretions specifically given to the Facility Agent under or in connection
with the Finance Documents together with any other incidental rights, powers,
authorities and discretions; and

(ii)                     execute each Finance Document and any Bank Guarantee expressed to be
executed by the Facility Agent on its behalf.

(c)                                      The Facility Agent shall be released from the
restrictions of Sec 181 of the German Civil Code.

(d)                                     At the request of the Facility Agent, the
Finance Parties shall grant special powers of attorney to the Facility Agent.

29.2                     Duties of the Facility Agent

(a)                                      The Facility Agent shall promptly forward to
a Party the original or a copy of any document which is delivered to the
Facility Agent for that Party by any other Party.

(b)                                     Except where a Finance Document specifically
provides otherwise, the Facility Agent is not obliged to review or check the
adequacy, accuracy or completeness of any document it forwards to another
Party.

(c)                                      If the Facility Agent receives notice from a
Party referring to this Agreement, describing a Default and stating that the
circumstance described is a Default, it shall promptly notify the other Finance
Parties.

(d)                                     If the Facility Agent is aware of the non
payment of any principal, interest, commitment fee or other fee payable to a
Finance Party (other than the Facility Agent, the Mandated Lead Arrangers under
this Agreement it shall promptly notify the other Finance Parties.

(e)                                      The Facility Agent’s duties under the Finance
Documents are solely mechanical and administrative in nature.

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29.3                     Role of the Mandated Lead
Arrangers

Except
as specifically provided in the Finance Documents, each Mandated Lead Arranger
has no obligations of any kind to any other Party under or in connection with
any Finance Document.

29.4                     No fiduciary duties

(a)                                      Nothing in this Agreement constitutes the
Facility Agent, any Mandated Lead Arranger and/or the Issuing Bank as a trustee
or fiduciary of any other person.

(b)                                     The Facility Agent shall not be bound to
account to any Lender for any sum or the profit element of any sum received by
it for its own account.

29.5                     Business with the Group

The
Facility Agent may accept deposits from, lend money to and generally engage in
any kind of banking or other business with any member of the Group.

29.6                     Rights and discretions

(a)                                      The Facility Agent, the Issuing Bank and each
Ancillary Lender may rely on:

(i)                        any representation, notice or document
believed by it to be genuine, correct and appropriately authorised; and

(ii)                     any statement made by a director, authorised signatory or employee of
any person regarding any matters which may reasonably be assumed to be within
his knowledge or within his power to verify.

(b)                                     The Facility Agent may assume (unless it has
received notice to the contrary in its capacity as agent for the Lenders) that:

(i)                        no Default has occurred (unless it has actual
knowledge of a Default arising under Clause 26.1 (Non payment));

(ii)                     any right, power, authority or discretion vested in any Party, the
Majority Lenders, the Super Majority Lenders or the Lenders has not been
exercised; and

(iii)                  any
notice or request made by the Company is made on behalf of and with the consent
and knowledge of all the Obligors.

(c)                                      The Facility Agent, the Issuing Bank and each
Ancillary Lender may engage, pay for and rely on the advice or services of any
lawyers, accountants, surveyors or other experts.

(d)                                     The Facility Agent, the Issuing Bank and each
Ancillary Lender may act in relation to the Finance Documents through its
personnel and agents.  The Facility Agent
shall not be liable for the negligence or misconduct of such agents.

(e)                                      The Facility Agent may disclose to any other
Party any information it reasonably believes it has received as agent under
this Agreement.

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(f)                                        Notwithstanding any other provision of any
Finance Document to the contrary, none of the Facility Agent, any Mandated Lead
Arranger or the Issuing Bank is obliged to do or omit to do anything if it
would or might in its reasonable opinion constitute a breach of any law or
regulation or a breach of a fiduciary duty or duty of confidentiality.

(g)                                     Where any Finance Document specifies a
minimum period of notice to be given to the Facility Agent, the Facility Agent
may, at its discretion, accept a shorter period of notice.

29.7                     Majority Lenders’ instructions

(a)                                      Unless a contrary indication appears in a
Finance Document, the Facility Agent shall (a) act in accordance with any instructions
given to it by the Majority Lenders (or, if so instructed by the Majority
Lenders, refrain from acting or exercising any right, power, authority or
discretion vested in it as Facility Agent) and (b) not be liable for any act
(or omission) if it acts (or refrains from taking any action) in accordance
with such an instruction of the Majority Lenders.

(b)                                     Unless a contrary indication appears in a
Finance Document, any instructions given by the Majority Lenders will be
binding on all the Finance Parties.

(c)                                      The Facility Agent may refrain from acting in
accordance with the instructions of the Majority Lenders (or, if appropriate,
the Super Majority Lenders or the Lenders) until it has received such security
as it may require for any cost, loss or liability (together with any associated
VAT) which it may incur in complying with the instructions.

(d)                                     In the absence of instructions from the
Majority Lenders, (or, if appropriate, the Super Majority Lenders or the
Lenders) the Facility Agent may act (or refrain from taking action) as it
considers to be in the best interest of the Lenders.

(e)                                      The Facility Agent is not authorised to act
on behalf of a Lender (without first obtaining that Lender’s consent) in any
legal or arbitration proceedings relating to any Finance Document.  This paragraph (e) shall not apply to any
legal or arbitration proceeding relating to the perfection, preservation or
protection of rights under the Finance Documents.

29.8                     Responsibility for documentation

None
of the Facility Agent, any Mandated Lead Arranger, the Issuing Bank, or any
Ancillary Lender:

(a)                                      is responsible for the adequacy, accuracy
and/or completeness of any information (whether oral or written) supplied by
the Facility Agent, a Mandated Lead Arranger, the Issuing Bank, an Ancillary
Lender, an Obligor or any other person given in or in connection with any
Finance Document or the Information Memorandum or the transactions contemplated
in the Finance Documents; or

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(b)                                     is responsible for the legality, validity,
effectiveness, adequacy or enforceability of any Finance Document or any other
agreement, arrangement or document entered into, made or executed in
anticipation of or in connection with any Finance Document.

29.9                     Exclusion of liability

(a)                                      Without limiting paragraph (b) below, none of
the Facility Agent, the Issuing Bank or any Ancillary Lender will be liable for
any action taken by it under or in connection with any Finance Document, unless
directly caused by its gross negligence or wilful misconduct.

(b)                                     No Party (other than the Facility Agent, the
Issuing Bank or an Ancillary Lender (as applicable)) may take any proceedings
against any officer, employee or agent of the Facility Agent, the Issuing Bank
or any Ancillary Lender, in respect of any claim it might have against the
Facility Agent, the Issuing Bank or an Ancillary Lender or in respect of any
act or omission of any kind by that officer, employee or agent in relation to
any Finance Document and any officer, employee or agent of the Facility Agent,
the Issuing Bank or any Ancillary Lender may rely on this Clause.

(c)                                      The Facility Agent will not be liable for any
delay (or any related consequences) in crediting an account with an amount
required under the Finance Documents to be paid by the Facility Agent if the Facility
Agent has taken all necessary steps as soon as reasonably practicable to comply
with the regulations or operating procedures of any recognised clearing or
settlement system used by the Facility Agent for that purpose.

29.10               Lenders’
indemnity to the Facility Agent

Each
Lender shall (in proportion to its share of the Total Commitments or, if the
Total Commitments are then zero, to its share of the Total Commitments
immediately prior to their reduction to zero) indemnify the Facility Agent,
within three Business Days of demand, against any cost, loss or liability
incurred by the Facility Agent (otherwise than by reason of the Facility Agent’s
gross negligence or wilful misconduct) in acting as Facility Agent under the
Finance Documents (unless the Facility Agent has been reimbursed by an Obligor
pursuant to a Finance Document).

29.11               Resignation
of the Facility Agent

(a)                                      The Facility Agent may resign and appoint one
of its Affiliates as successor by giving notice to the Lenders and the Company.

(b)                                     Alternatively, the Facility Agent may resign
by giving notice to the Lenders and the Company, in which case the Majority
Lenders (after consultation with the Company) may appoint a successor Facility
Agent.

(c)                                      If the Majority Lenders have not appointed a
successor Facility Agent in accordance with paragraph (b) above within 30 days
after notice of resignation was given, the Facility Agent (after consultation
with the Company) may appoint a successor Facility Agent.

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(d)                                     The retiring Facility Agent shall, at its own
cost, make available to the successor Facility Agent such documents and records
and provide such assistance as the successor Facility Agent may reasonably
request for the purposes of performing its functions as Facility Agent under
the Finance Documents.

(e)                                      The Facility Agent’s resignation notice shall
only take effect upon the appointment of a successor.

(f)                                        Upon the appointment of a successor, the
retiring Facility Agent shall be discharged from any further obligation in
respect of the Finance Documents but shall remain entitled to the benefit of
this Clause 29.11.  Its successor and
each of the other Parties shall have the same rights and obligations amongst
themselves as they would have had if such successor had been an original Party.

(g)                                     After consultation with the Company, the
Majority Lenders may, by notice to the Facility Agent, require it to resign in
accordance with paragraph (b) above.  In
this event, the Facility Agent shall resign in accordance with paragraph (b)
above.

29.12               Confidentiality

(a)                                      In acting as agent for the Finance Parties
the Facility Agent shall be regarded as acting through its agency division
which shall be treated as a separate entity from any other of its divisions or
departments.

(b)                                     If information is received by another
division or department of the Facility Agent, it may be treated as confidential
to that division or department and the Facility Agent shall not be deemed to
have notice of it.

(c)                                      Notwithstanding any other provision of any
Finance Document to the contrary, none of the Facility Agent and Mandated Lead
Arrangers are obliged to disclose to any other person (i) any confidential
information or (ii) any other information if the disclosure would or might in
its reasonable opinion constitute a breach of any law or a breach of a
fiduciary duty.

29.13               Relationship
with the Lenders

(a)                                      The Facility Agent may treat each Lender as a
Lender, entitled to payments under this Agreement and acting through its
Facility Office unless it has received not less than five Business Days prior
notice from that Lender to the contrary in accordance with the terms of this
Agreement.

(b)                                     Each Lender shall supply the Facility Agent
with any information required by the Facility Agent in order to calculate the
Mandatory Cost in accordance with Schedule 4 (Mandatory
Cost Formulae).

29.14               Credit
appraisal by the Finance Parties

Without
affecting the responsibility of any Obligor for information supplied by it or
on its behalf in connection with any Finance Document, each Finance Party confirms
to the Facility Agent, the Mandated Lead Arrangers, the Issuing Bank and each
Ancillary Lender that it has been, and will continue to be, solely responsible
for making its own 

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independent
appraisal and investigation of all risks arising under or in connection with
any Finance Document including but not limited to:

(a)                                      the financial condition, status and nature of
each member of the Group;

(b)                                     the legality, validity, effectiveness,
adequacy or enforceability of any Finance Document and any other agreement,
arrangement or document entered into, made or executed in anticipation of,
under or in connection with any Finance Document;

(c)                                      whether that Finance Party has recourse, and
the nature and extent of that recourse, against any Party or any of its respective
assets under or in connection with any Finance Document the transactions
contemplated by the Finance Documents or any other agreement, arrangement or
document entered into, made or executed in anticipation of, under or in
connection with any Finance Document;

(d)                                     the adequacy, accuracy and/or completeness of
the Information Memorandum, and any other information provided by the Facility
Agent, any other Party or by any other person under or in connection with any
Finance Document, the transactions contemplated by the Finance Documents or any
other agreement, arrangement or document entered into, made or executed in
anticipation of, under or in connection with any Finance Document.

29.15               Reference
Banks

If
a Reference Bank (or, if a Reference Bank is not a Lender, the Lender of which
it is an Affiliate) ceases to be a Lender, the Facility Agent shall (in
consultation with the Company) appoint another Lender or an Affiliate of a
Lender (who would satisfy the definition of “Reference
Bank”) to replace that Reference Bank.

29.16               Deduction
from amounts payable by the Agent

If
any Party owes an amount to the Facility Agent under the Finance Documents the
Facility Agent may, after giving notice to that Party, deduct an amount not
exceeding that amount from any payment to that Party which the Facility Agent
would otherwise be obliged to make under the Finance Documents and apply the
amount deducted in or towards satisfaction of the amount owed.  For the purposes of the Finance Documents
that Party shall be regarded as having received any amount so deducted.

30.                           CONDUCT OF BUSINESS BY THE
FINANCE PARTIES

No
provision of this Agreement will:

(a)                                      interfere with the right of any Finance Party
to arrange its affairs (tax or otherwise) in whatever manner it thinks fit (subject
to its obligations under Clause 19 (Mitigation
by the Lenders));

(b)                                     oblige any Finance Party to investigate or
claim any credit, relief, remission or repayment available to it or the extent,
order and manner of any claim; or

(c)                                      oblige any Finance Party to disclose any
information relating to its affairs (tax or otherwise) or any computations in
respect of Tax.

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31.                           SHARING AMONG THE FINANCE
PARTIES

31.1                     Payments to Finance Parties

If
a Finance Party (a “Recovering Finance Party”)
receives or recovers any amount from an Obligor other than in accordance with
Clause 32 (Payment mechanics) and
applies that amount to a payment due under the Finance Documents then:

(a)                                      the Recovering Finance Party shall, within
three Business Days, notify details of the receipt or recovery to the Facility
Agent;

(b)                                     the Facility Agent shall determine whether
the receipt or recovery is in excess of the amount the Recovering Finance Party
would have been paid had the receipt or recovery been received or made by the
Facility Agent and distributed in accordance with Clause 32 (Payment mechanics), without taking account
of any Tax which would be imposed on the Facility Agent in relation to the
receipt, recovery or distribution; and

(c)                                      the Recovering Finance Party shall, within
three Business Days of demand by the Facility Agent, pay to the Facility Agent
an amount (the “Sharing
Payment”) equal to such
receipt or recovery less any amount which the Facility Agent determines may be
retained by the Recovering Finance Party as its share of any payment to be
made, in accordance with Clause 32.5 (Partial
payments).

31.2                     Redistribution of payments

The
Facility Agent shall treat the Sharing Payment as if it had been paid by the
relevant Obligor and distribute it between the Finance Parties (other than the
Recovering Finance Party) in accordance with Clause 32.5 (Partial payments).

31.3                     Recovering Finance Party’s rights

(a)                                      On a distribution by the Facility Agent under
Clause 31 (Sharing among the Financial
Parties), each Finance Party which has shared in the redistribution
shall assign to the Recovering Finance Party an amount equal to its share of
the Sharing Payment.

(b)                                     If and to the extent that the Recovering
Finance Party is not able to rely on its rights under paragraph (a) above, the
relevant Obligor shall be liable to the Recovering Finance Party for a debt
equal to the Sharing Payment which is immediately due and payable.

31.4                     Reversal of redistribution

If
any part of the Sharing Payment received or recovered by a Recovering Finance
Party becomes repayable and is repaid by that Recovering Finance Party, then:

(a)                                      each Finance Party which has received a share
of the relevant Sharing Payment pursuant to Clause 31.2 (Redistribution of payments) shall, upon
request of the Facility Agent, pay to the Facility Agent for account of that
Recovering Finance Party an amount equal to its share of the Sharing Payment
(together with an amount as is necessary to reimburse that Recovering Finance
Party for its proportion of any interest on the Sharing Payment which that
Recovering Finance Party is required to pay); and

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(b)                                     that Recovering Finance Party’s rights of
subrogation in respect of any reimbursement shall be cancelled and the relevant
Obligor will be liable to the reimbursing Finance Party for the amount so
reimbursed.

31.5                     Exceptions

(a)                                      This Clause 31 shall not apply to the extent
that the Recovering Finance Party would not, after making any payment pursuant
to this Clause 31.5, have a valid and enforceable claim against the relevant
Obligor.

(b)                                     A Recovering Finance Party is not obliged to
share with any other Finance Party any amount which the Recovering Finance
Party has received or recovered as a result of taking legal or arbitration
proceedings, if:

(i)                        it notified the other Finance Party of the
legal or arbitration proceedings; and

(ii)                     the other Finance Party had an opportunity to participate in those
legal or arbitration proceedings but did not do so as soon as reasonably
practicable having received notice or did not take separate legal or
arbitration proceedings.

31.6                     Commitment Exchange following
acceleration

(a)                                      For the purposes of this Clause 31.6 :

“Commitment Exchange” means the exchange of
the Lenders’ interests in the Commitments as provided for in paragraph (b)
below.

“Dollar  Equivalent”
shall mean, at any time:

(a)                     with respect to any amount denominated in
dollars, such amount; and

(b)                    with respect any amounts denominated in any
currency other than dollars, the equivalent amount thereof in dollars as
calculated by the Facility Agent at the Agent’s Spot Rate of Exchange for the
purchase of dollars with such currency.

“Exchange Date” shall mean the first date
after the Closing Date on which there occurs:

(a)                     any event or circumstance set out in Clauses
26.6 (Insolvency), 26.7 (Insolvency  proceedings) or 26.8 (Creditors’
process); or

(b)                    any action taken by the Facility Agent, or
the Facility is automatically accelerated pursuant to Clause 26.18 (Acceleration).

“Commitment Adjustment Percentage” shall
mean, in relation to each Lender, a fraction, expressed as a decimal, of which:

(a)                     the numerator shall be the aggregate Dollar
Equivalent of the Commitments of such Lender immediately prior to the Exchange
Date; and

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(b)                    the denominator shall be the Dollar
Equivalent of the Total Commitments immediately prior to the Exchange Date.

(b)                                     On
the Exchange Date, (i) the Lenders shall automatically and without further act
be deemed to have exchanged interests in the Facilities such that, in lieu of
the interests of each Lender in each Facility in which it participates as of
such date, each Lender shall own an interest equal to such Lender’s Commitment
Adjustment Percentage in each of Facility A1, Facility A2 and the Revolving
Facility. Each of the Lenders agrees from time to time to execute and deliver
to the Facility Agent all Transfer Certificates and documents as the Facility
Agent shall reasonably request to evidence and confirm the respective interests
and obligations of the Lenders after giving effect to the Commitment Exchange,
provided that the failure of any Lender to deliver any such transfer
certificate or document shall not affect the validity or effectiveness of the
Commitment Exchange.

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SECTION 11

ADMINISTRATION

32.                           PAYMENT MECHANICS

32.1                     Payments to the Facility Agent

(a)                                      On each date on which an Obligor or a Lender
is required to make a payment under a Finance Document, that Obligor or Lender
shall make the same available to the Facility Agent (unless a contrary
indication appears in a Finance Document) for value on the due date at the time
and in such funds specified by the Facility Agent as being customary at the
time for settlement of transactions in the relevant currency in the place of
payment.

(b)                                     Payment shall be made to such account in the
principal financial centre of the country of that currency (or, in relation to
euro, in a principal financial centre in a Participating Member State or
London) with such bank as the Facility Agent specifies.

32.2                     Distributions by the Facility
Agent

Each
payment received by the Facility Agent under the Finance Documents for another
Party shall, subject to Clauses 32.3 (Distributions
to an Obligor) and 32.4 (Clawback)
below, be made available by the Facility Agent as soon as practicable after
receipt to the Party entitled to receive payment in accordance with this
Agreement (in the case of a Lender, for the account of its Facility Office), to
such account as that Party may notify to the Facility Agent by not less than
five Business Days’ notice with a bank in the principal financial centre of the
country of that currency (or, in relation to euro, in the principal financial
centre of a Participating Member State or London).

32.3                     Distributions to an Obligor

The
Facility Agent may (with the consent of the Company or in accordance with
Clause 33 (Set Off)) apply any
amount received by it for that Obligor in or towards payment (on the date and
in the currency and funds of receipt) of any amount due from that Obligor under
the Finance Documents or in or towards purchase of any amount of any currency
to be so applied.

32.4                     Clawback

(a)                                      Where a sum is to be paid to the Facility
Agent under the Finance Documents for another Party, the Facility Agent is not
obliged to pay that sum to that other Party (or to enter into or perform any
related exchange contract) until it has been able to establish to its
satisfaction that it has actually received that sum.

(b)                                     If the Facility Agent pays an amount to
another Party and it proves to be the case that the Facility Agent had not
actually received that amount, then the Party to whom that amount (or the
proceeds of any related exchange contract) was paid by the Facility Agent shall
on demand refund the same to the Facility Agent together with interest on that
amount from the date of payment to the date of receipt by the Facility Agent,
calculated by the Facility Agent to reflect its cost of funds.

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32.5                     Partial payments

(a)                                      If the Facility Agent receives a payment that
is insufficient to discharge all the amounts then due and payable by an Obligor
under the Finance Documents, the Facility Agent shall apply that payment
towards the obligations of that Obligor under the Finance Documents in the
following order:

(i)                        first, in or towards payment pro rata of any unpaid fees, costs and
expenses of the Facility Agent, the Issuing Bank, the Mandated Lead Arrangers
under the Finance Documents;

(ii)                     second, in or towards payment pro rata of any accrued interest, fee or
commission due but unpaid under this Agreement and the Ancillary Documents;

(iii)                  third, in or towards payment pro rata of any principal outstandings due
but unpaid under this Agreement and the Ancillary Documents and any amount due
but unpaid under Clause 7.3 (Claims under a
Bank Guarantee) and Clause 7.4 (Indemnities);
and

(iv)                 fourth, in or towards payment pro rata of any other sum due but unpaid
under the Finance Documents.

(b)                                     The Facility Agent shall, if so directed by
the Majority Lenders, vary the order set out in sub-paragraphs (a)(ii) to (iv)
above.

(c)                                      Paragraphs (a) and (b) above will override
any appropriation made by an Obligor.

32.6                     No set off by Obligors

All
payments to be made by an Obligor under the Finance Documents shall be
calculated and be made without (and free and clear of any deduction for) set
off or counterclaim, except in respect of claims of an Obligor which are either
undisputed between the relevant Finance Parties and that Obligor or which have
become subject to a final court judgement.

32.7                     Business Days

(a)                                      Any payment or reduction which is due to be
made, or an Interest Period which would otherwise end, on a day that is not a
Business Day shall be made or will end, as the case may be, on the next
Business Day in the same calendar month (if there is one) or the preceding
Business Day (if there is not).

(b)                                     During any extension of the due date for
payment of any principal or an Unpaid Sum under this Agreement interest is
payable on the principal at the rate payable on the original due date.

32.8                     Currency of account

(a)                                      Subject to paragraphs (b) to (f) below, the
Base Currency is the currency of account and payment for any sum due from an
Obligor under any Finance Document.

 128
 

 

(b)                                     A repayment of a Utilisation or Unpaid Sum or
a part of a Utilisation or Unpaid Sum shall be made in the currency in which
that Utilisation or Unpaid Sum is denominated on its due date.

(c)                                      Each payment in respect of a Bank Guarantee
(including any cash cover in respect of a Bank Guarantee) shall be made in the
currency in which that Bank Guarantee is denominated.

(d)                                     Each payment of interest shall be made in the
currency in which the sum in respect of which the interest is payable was
denominated when that interest accrued.

(e)                                      Each payment in respect of costs, expenses or
Taxes shall be made in the currency in which the costs, expenses or Taxes are
incurred.

(f)                                        Any amount expressed to be payable in a
currency other than the Base Currency shall be paid in that other currency.

32.9                     Change of currency

(a)                                      Unless otherwise prohibited by law, if more
than one currency or currency unit are at the same time recognised by the
central bank of any country as the lawful currency of that country, then:

(i)                        any reference in the Finance Documents to,
and any obligations arising under the Finance Documents in, the currency of
that country shall be translated into, or paid in, the currency or currency
unit of that country designated by the Facility Agent (after consultation with
the Company); and

(ii)                     any translation from one currency or currency
unit to another shall be at the official rate of exchange recognised by the
central bank for the conversion of that currency or currency unit into the
other, rounded up or down by the Facility Agent (acting reasonably).

(b)                                     If a change in any currency of a country
occurs, this Agreement will, to the extent the Facility Agent (acting
reasonably and after consultation with the Company) specifies to be necessary,
be amended to comply with any generally accepted conventions and market
practice in the Relevant Interbank Market and otherwise to reflect the change
in currency.

33.                           SET OFF

After
the occurrence of an Event of Default, a Finance Party may set off any matured
obligation due from an Obligor under the Finance Documents against any
obligation owed by that Finance Party to that Obligor, regardless of the place
of payment, booking branch or currency of either obligation.  If the obligations are in different
currencies, the Finance Party may convert either obligation at a market rate of
exchange in its usual course of business for the purpose of the set off.  That Finance Party shall promptly notify that
Obligor of such set-off or conversion.

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34.                           NOTICES

34.1                     Communications in writing

Any
communication to be made under or in connection with the Finance Documents
shall be made in writing and, unless otherwise stated, may be made by fax or
letter.

34.2                     Addresses

The
address and fax number (and the department or officer, if any, for whose
attention the communication is to be made) of each Party for any communication
or document to be made or delivered under or in connection with the Finance
Documents is:

(a)                                      in the case of an Original Obligor, that
identified with its name below;

(b)                                     in the case of each Lender, the Issuing Bank,
each Ancillary Lender or any other Obligor, that notified in writing to the
Facility Agent on or prior to the date on which it becomes a Party; and

(c)                                      in the case of the Facility Agent, that
identified with its name below,

or
any substitute address, fax number or department or officer as the Party may
notify to the Facility Agent (or the Facility Agent may notify to the other
Parties, if a change is made by the Facility Agent) by not less than five
Business Days’ notice.

34.3                     Delivery

(a)                                      Any communication or document made or
delivered by one person to another under or in connection with the Finance
Documents will only be effective:

(i)                        if by way of fax, when received in legible
form; or

(ii)                     if by way of letter, when it has been left at
the relevant address or five Business Days after being deposited in the post
postage prepaid in an envelope addressed to it at that address,

and,
if a particular department or officer is specified as part of its address
details provided under Clause 34.2 (Addresses),
if addressed to that department or officer.

(b)                                     Any communication or document to be made or
delivered to the Facility Agent will be effective only when actually received
by the Facility Agent and then only if it is expressly marked for the attention
of the department or officer identified with the Facility Agent’s signature
below (or any substitute department or officer as the Facility Agent shall
specify for this purpose).

(c)                                      All notices from or to an Obligor shall be
sent through the Facility Agent.  The
Company may make and/or deliver as agent of each Obligor notices and/or
requests on behalf of each Obligor.

(d)                                     Any communication or document made or
delivered to the Company in accordance with this Clause 34.3 will be deemed to
have been made or delivered to each of the Obligors.

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34.4                     Notification of address and fax
number

Promptly
upon receipt of notification of an address and fax number or change of address
or fax number pursuant to Clause 34.2 (Addresses)
or changing its own address or fax number, the Facility Agent shall notify the
other Parties.

34.5                     Electronic communication

(a)                                      Any communication to be made between the
Facility Agent and a Lender under or in connection with the Finance Documents
may be made by electronic mail or other electronic means, if the Facility Agent
and the relevant Lender:

(i)                        agree that, unless and until notified to the
contrary, this is to be an accepted form of communication;

(ii)                     notify each other in writing of their
electronic mail address and/or any other information required to enable the
sending and receipt of information by that means; and

(iii)                  notify each other of any change to their
address or any other such information supplied by them.

(b)                                     Any electronic communication made between the
Facility Agent and a Lender will be effective only when actually received in
readable form and in the case of any electronic communication made by a Lender
to the Facility Agent only if it is addressed in such a manner as the Facility
Agent shall specify for this purpose.

34.6                     English language

(a)                                      Any notice given under or in connection with
any Finance Document must be in English.

(b)                                     All other documents required to be provided
under or in connection with any Finance Document must be:

(i)                        in English; or

(ii)                     if not in English, and if so required by the
Facility Agent, accompanied by a certified English translation and, in this
case, the English translation will prevail unless the document is a
constitutional, statutory or other official document.

34.7                     Use of Websites

(a)                                      A Party (other than a Finance Party) may
satisfy its obligation under this Agreement to deliver any information in
relation to those Lenders (the “Website
Lenders”) who accept this
method of communication by posting this information onto an electronic website
designated by the Company and the Facility Agent (the “Designated Website”) if:

(i)                        the Facility Agent expressly agrees (after
consultation with each of the Lenders) that it will accept communication of the
information by this method;

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(ii)                     both the Company and the Facility Agent are
aware of the address of and any relevant password specifications for the
Designated Website; and

(iii)                  the information is in a format previously
agreed between the Company and the Facility Agent.

If
any Lender (a “Paper Form Lender”)
does not agree to the delivery of information electronically then the Facility
Agent shall notify the Company accordingly and the Company shall supply the
information to the Facility Agent (in sufficient copies for each Paper Form
Lender) in paper form.  In any event the
Company shall supply the Facility Agent with at least one copy in paper form of
any information required to be provided by it.

(b)                                     The Facility Agent shall supply each Website
Lender with the address of and any relevant password specifications for the
Designated Website following designation of that website by the Company and the
Facility Agent.

(c)                                      The Company shall promptly upon becoming
aware of its occurrence notify the Facility Agent if:

(i)                        the Designated Website cannot be accessed due
to technical failure;

(ii)                     the password specifications for the
Designated Website change;

(iii)                  any new information which is required to be
provided under this Agreement is posted onto the Designated Website;

(iv)                 any existing information which has been
provided under this Agreement and posted onto the Designated Website is
amended; or

(v)                    the Company becomes aware that the Designated
Website or any information posted onto the Designated Website is or has been
infected by any electronic virus or similar software.

If
the Company notifies the Facility Agent under sub-paragraphs (c)(i) or (c)(v)
above, all information to be provided by the Company under this Agreement after
the date of that notice shall be supplied in paper form unless and until the
Facility Agent and each Website Lender is satisfied that the circumstances
giving rise to the notification are no longer continuing.

(d)                                     Any Website Lender may request, through the
Facility Agent, one paper copy of any information required to be provided under
this Agreement which is posted onto the Designated Website. The Company shall
comply with any such request within ten Business Days.

35.                           CALCULATIONS AND CERTIFICATES

35.1                     Accounts

In
any litigation or arbitration proceedings arising out of or in connection with
a Finance Document, the entries made in the accounts maintained by a Finance
Party are prima facie evidence of the matters to which they relate.

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35.2                     Certificates and Determinations

Any
certification or determination by a Finance Party of a rate or amount under any
Finance Document and by a Issuing Bank as to the amount paid out by that
Issuing Bank in respect of any Bank Guarantee is, in the absence of manifest
error, conclusive evidence of the matters to which it relates.

35.3                     Day count convention

Any
interest, commission or fee accruing under a Finance Document will accrue from
day to day and is calculated on the basis of the actual number of days elapsed
and a year of 360 days or, in any case where the practice in the Relevant
Interbank Market differs, in accordance with that market practice.

36.                           PARTIAL INVALIDITY

If,
at any time, any provision of the Finance Documents is or becomes illegal,
invalid or unenforceable in any respect under any law of any jurisdiction,
neither the legality, validity or enforceability of the remaining provisions
nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction will in any way be affected or impaired.  The illegal, invalid or unenforceable
provision shall be deemed replaced by such provision reflecting the same
commercial intent of the parties which provision shall be legal, valid and
enforceable in the relevant jurisdiction.

37.                           REMEDIES AND WAIVERS

No
failure to exercise, nor any delay in exercising, on the part of any Finance
Party or Finance Party, any right or remedy under the Finance Documents shall
operate as a waiver, nor shall any single or partial exercise of any right or
remedy prevent any further or other exercise or the exercise of any other right
or remedy.  The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or
remedies provided by law.

38.                           AMENDMENTS AND WAIVERS

38.1                     Required consents

(a)                                      Subject to Clause 38.2 (Exceptions) any term of the Finance
Documents may be amended or waived only with the consent of the Majority
Lenders (save that amendments in any Finance Document which are solely required
to give effect to an act or circumstance which is permitted by the Finance
Documents may be made by the Facility Agent without reference to the Majority
Lenders) and the Company and any such amendment or waiver will be binding on
all Parties.

(b)                                     The Facility Agent may effect, on behalf of
any Finance Party, any amendment or waiver permitted by this Clause 38.

(c)                                      The Company may effect, as agent of each
member of the Group, any amendment or waiver permitted by this Clause 38.  For this purpose, the Company is released
from the restrictions of Section 181 of the German Civil Code.

 133
 

 

38.2                     Exceptions

(a)                                      An amendment or waiver that has the effect of
changing or which relates to:

(i)                        the manner in which the proceeds of
enforcement of a guarantee are distributed to the Lenders;

(ii)                     any provision which expressly requires the
consent of the Super-Majority Lenders;

(iii)                  a change to the Guarantors other than in
accordance with Clause 28 (Changes to the
Obligors);

(iv)                 a change to the Borrowers other than in
accordance with Clause 28 (Changes to the
Obligors);

shall
not be made without the prior consent of the Super Majority Lenders.

(b)                                     An amendment or waiver that has the effect of
changing or which relates to:

(i)                        any extension to the date of payment of any
amount under the Finance Documents due to a Lender (other than in respect of
prepayments of disposal proceeds under Clause 11.9 (Disposal Proceeds) which shall require only the consent of
the Majority Lenders;

(ii)                     any increase in, or an extension of, any
Commitment of a Lender;

(iii)                  any addition of any Commitment from a new
Lender;

(iv)                 a reduction in the Margin or a reduction in
the amount of any payment of principal, interest, fees or commission payable to
a Lender;

(v)                    a change in currency of payment of any amount
under the Finance Documents,

shall
not be made without the prior consent of the Majority Lender including all of
the directly affected Lenders.

(c)                                      An amendment or waiver that has the effect of
changing or which relates to:

(i)                        the definition of “Majority Lenders” or “Super Majority Lenders”
in Clause 1.1 (Definitions);

(ii)                     Clause 2.4 (Finance
Parties Rights and Obligations), Clause 27 (Changes to the Lenders) or this Clause 38;
or

(iii)                  any provision which expressly requires the
consent of all the Lenders,

shall
not be made without the prior consent of all the Lenders.

(d)                                     An amendment or waiver that has the effect of
changing or which relates to the redenomination into another currency of any
Commitment of a Lender shall not be made without the prior consent of such
Lender.

 134
 

 

(e)                                      Any increase in the Commitments by way of a
person who is not a Lender as at the date immediately prior to such increase
agreeing to become a Lender shall require the consent of the Majority Lenders
only.

(f)                                        An amendment or waiver which relates to the
rights or obligations of the Facility Agent, the Mandated Lead Arrangers, the
Issuing Bank, or any Ancillary Lender may not be effected without the consent
of the Facility Agent, the Mandated Lead Arrangers, the Issuing Bank or the
Ancillary Lenders at such time.

38.3                     Deemed Response

If
a Lender does not respond to a request from the Company for an amendment or
waiver to consent within 10 Business Days (or, upon the Facility Agent
requesting, due to the complexity or materiality of the matters concerned, 15
Business Days or such longer period agreed by the Facility Agent and the
Company) such Lender shall be deemed to have voted in favour of the relevant
request.

38.4                     Replacement of Lender

(a)                                      If at any time:

(i)                        any Lender becomes a Non-Consenting Lender
(as defined in paragraph (c) below); or

(ii)                     an Obligor becomes obliged to repay any
amount in accordance with Clause 11.1 (Illegality
of a Lender) or to pay additional amounts pursuant to Clause 16.2 (Tax gross-up) or Clause 17 (Increased Costs) to any Lender in excess
of amounts payable to the other Lenders generally,

then
the Company may, on 5 Business Days prior written notice to the Facility Agent
and such Lender, replace such Lender by requiring such Lender to (and such
Lender shall) transfer pursuant to Clause 27 (Changes
to the Lenders) all (and not part only) of its rights and
obligations under this Agreement to a Lender or other bank or financial
institution (a “Replacement Lender”)
selected by the Company, and which is acceptable to the Facility Agent (acting
reasonably) and (in the case of any transfer of a Revolving Commitment) the
Issuing Bank, which confirms its willingness to assume and does assume all the
obligations of the transferring Lender (including the assumption of the
transferring Lender’s participations on the same basis as the transferring
Lender) for a purchase price in cash payable at the time of transfer equal to
the outstanding principal amount of such Lender’s participation in the
outstanding Loans and/or Bank Guarantees and all accrued interest (and any
breakage costs) and fees and other amounts payable thereunder.

(b)                                     The replacement of a Lender pursuant to this
Clause shall be subject to the following conditions:

(i)                        the Company shall have no right to replace
the Facility Agent in its role as such;

 135
 

 

(ii)                     neither the Facility Agent nor the Lender to
be replaced under this Clause shall have any obligation to the Company to find
a Replacement Lender;

(iii)                  in the event of a replacement of a
Non-Consenting Lender such replacement must take place no later than 90 days
after the date the Non-Consenting Lender notified the Company and the Facility
Agent of its failure or refusal to agree to any consent, waiver or amendment to
the Finance Documents requested by the Company; and

(iv)                 in no event shall the Lender to be replaced
under this Clause be required to pay or surrender to such Replacement Lender
any of the fees received by such Lender pursuant to the Finance Documents.

(c)                                      If:

(i)                        the Company or the Facility Agent (at the
request of the Company) has requested the Lenders to consent to a waiver or
amendment of any provisions of the Finance Documents;

(ii)                     the waiver or amendment in question requires
the consent of all the Lenders or all the Lenders in a particular Facility or
the Super Majority Lenders; and

(iii)                  the Majority Lenders (or the Majority Lenders
on the basis only of the particular Facility concerned) have consented to such
waiver or amendment,

then
any Lender who does not and continues not to agree to such waiver or amendment
shall be deemed to be a “Non-Consenting
Lender”.

39.                           COUNTERPARTS

Each
Finance Document may be executed in any number of counterparts, and this has
the same effect as if the signatures on the counterparts were on a single copy
of the Finance Document.

40.                           USA PATRIOT ACT

Each
Lender hereby notifies each Obligor that pursuant to the requirements of the
USA Patriot Act, such Lender is required to obtain, verify and record
information that identifies such Obligor, which information includes the name
and address of such Obligor and other information that will allow such Lender
to identify such Obligor in accordance with the USA Patriot Act.

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SECTION 12

GOVERNING
LAW AND ENFORCEMENT

41.                           GOVERNING LAW

This
Agreement is governed by English law.

42.                           ENFORCEMENT

42.1                     Jurisdiction of English Courts

(a)                                      The courts of England have exclusive
jurisdiction to settle any dispute arising out of or in connection with this
Agreement (including a dispute regarding the existence, validity or termination
of this Agreement) (a “Dispute”).

(b)                                     The Parties agree that the courts of England
are the most appropriate and convenient courts to settle Disputes and accordingly
no Party will argue to the contrary.

(c)                                      This Clause 42.1 is for the benefit of the
Finance Parties and Finance Parties only. 
As a result, no Finance Party or Finance Party shall be prevented from
taking proceedings relating to a Dispute in any other courts with
jurisdiction.  To the extent allowed by
law, the Finance Parties and Finance Parties may take concurrent proceedings in
any number of jurisdictions.

42.2                     Service of process

Without
prejudice to any other mode of service allowed under any relevant law, each
Obligor (other than an Obligor incorporated in England):

(a)                                      irrevocably appoints Law Debenture Corporate
Services Ltd. or such other person as such Obligor may notify to the Facility
Agent as its agent for service of process in relation to any proceedings before
the English courts in connection with any Finance Document; and

(b)                                     agrees that failure by a process agent to
notify the relevant Obligor of the process will not invalidate the proceedings
concerned.

43.                           WAIVER OF JURY TRIAL

EACH OF THE PARTIES TO THIS AGREEMENT AGREES TO WAIVE
IRREVOCABLY ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM BASED UPON OR ARISING OUT
OF THIS AGREEMENT OR ANY OF THE DOCUMENTS REFERRED TO IN THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED IN THIS AGREEMENT.  This
waiver is intended to apply to all Disputes. 
Each party acknowledges that (a) this waiver is a material inducement to
enter into this Agreement, (b) it has already relied on this waiver in entering
into this Agreement and (c) it will continue to rely on this waiver in future
dealings.  Each party represents that it
has reviewed this waiver with its legal advisers and that it knowingly and
voluntarily waives its jury trial rights after consultation with its legal advisers.  In the event of litigation, this Agreement
may be filed as a written consent to a trial by the court.

 137
 

 

This Agreement has been entered into on the date
stated at the beginning of this Agreement.

 138
 

 

SCHEDULE 1

THE ORIGINAL LENDER

	
  Original Lender

  	
   

  	
  Facility A1

  Commitment

  	
   

  	
  Facility A2 

  Commitment

  	
   

  	
  Revolving 

  Commitment

  	
   

  
	
   

  	
   

  	
  USD

  	
   

  	
  Euro

  	
   

  	
  USD

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JPMorgan Chase
  Bank, N.A.

  	
   

  	
  75,000,000

  	
   

  	
  137,500,000

  	
   

  	
  75,000,000

  	
   

  
	
  UBS Limited

  	
   

  	
  75,000,000

  	
   

  	
  137,500,000

  	
   

  	
  75,000,000

  	
   

  
	
  TOTAL

  	
   

  	
  150,000,000

  	
   

  	
  275,000,000

  	
   

  	
  150,000,000

  	
   

  

 

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SCHEDULE 2

CONDITIONS PRECEDENT

Part I

Conditions Precedent to Delivery of a Utilisation Request

1.                                 Obligors

(a)                                      A copy of the constitutional documents of
each party (other than a Finance Party) to a Finance Document, including for
any company whose Relevant Jurisdiction is Germany officially certified, recent
and up-to-date commercial register extracts (beglaubigter
Handelsregisterauszug) and articles of association or, in the case
of partnerships, uncertified, recent and up-to-date partnership agreements.

(b)                                     A copy of a resolution of the board of
directors and/or shareholders resolution of each party to a Finance Document
(other than a Finance Party):

(i)                        approving the terms of, and the transactions
contemplated by, the Finance Documents to which it is a party and resolving
that it execute the Finance Documents to which it is a party;

(i)                        authorising a specified person or persons to
execute the Finance Documents to which it is a party on its behalf; and

(ii)                     authorising a specified person or persons, on
its behalf, to sign and/or despatch all documents and notices (including, if
relevant, any Utilisation Request and Selection Notice) to be signed and/or
despatched by it under or in connection with the Finance Documents to which it
is a party.

(c)                                      A specimen of the signature of each person authorised
by the resolution referred to in paragraph (b) above in relation to the Finance
Documents.

(d)                                     A certificate of an authorised signatory of
the relevant party certifying that each copy document relating to it specified
in this Part I of Schedule 2 is correct, complete and in full force and effect
as at a date no earlier than the date of this Agreement.

(e)                                      A copy of a good standing certificate
(including to the extent available verification of franchise or similar tax
status) with respect to each U.S. Obligor, issued as of a recent date by the
Secretary of State or other appropriate official of each U.S. Obligor’s
jurisdiction of incorporation or organisation.

2.                                 Finance Documents

(a)                                      This Agreement executed by the members of the
Group party to this Agreement.

(b)                                     The Fee Letters executed by the Company.

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(c)                                      A copy of the Funds Flow Statement.

3.                                 Other Documents and Evidence

(a)                                      Evidence of compliance with all of the
Facility Agent’s customary “know your customer” or similar checks under all
applicable laws and regulations.

(b)                                     Acceptance of service of process in relation
to any proceedings before the English courts in connection with any Finance
Document.

(c)                                      The Structure Memorandum in a form agreed by
the Company and the Facility Agent (acting reasonably) and the reliance letter
related thereto detailing the proposed movement of funds on and before the
Closing Date.

(d)                                     The Business Plan.

(e)                                      A certificate of the Chief Financial Officer
of each U.S. Obligor stating that the respective company is Solvent after
giving effect to the initial Loans, the application of the proceeds of the
Loans in accordance with Clause 3 and the payment of all estimated legal,
accounting and other fees related to this Agreement and the consummation of the
other transactions contemplated by this Agreement.  For purposes of this certificate, “Solvent”
means with respect to such U.S. Obligor on any date of determination that (a)
the fair value of the property of such person is greater than the total amount
of liabilities (including contingent and unliquidated liabilities) of such
person; (b) the present fair saleable value of the assets of such person is not
less than the amount which will be required to pay the probable liability of
such person on its debts as they become absolute and mature; (c) such person
does not intend to, and does not believe that it will, incur debts or
liabilities beyond such person’s ability to pay as such debts and liabilities
mature; and (d) such person is not engaged in a business or transaction, and is
not about to engage in a business or transaction, for which such person’s
property would constitute unreasonably small capital.  In computing the amount of contingent or
unliquidated liabilities at any time, such liabilities will be computed at the
amount which, in light of all the facts and circumstances existing at such
time, represents the amount that can reasonably be expected to become an actual
and matured liability.

Part IA

Conditions Precedent to Drawdown

1.                                 Finance Documents

An executed copy of the Subordination Agreement.

2.                                 Legal Opinions

The
following legal opinions, each addressed to the Facility Agent and the Lenders.

 141
 

 

(a)                                      A legal opinion of Clifford Chance LLP, legal
advisers to the Mandated Lead Arranger and the Facility Agent as to English
law.

(b)                                     A legal opinion of Clifford Chance
Partnerschaftgesellschaft, legal advisers to the Mandated Lead Arranger and the
Facility Agent as to German law.

(c)                                      A legal opinion of Kirkland and Ellis legal
advisors to the Company as to US law.

3.                                 Other Documents and Evidence

(a)                                      A letter addressed to the Company from the
facility agents under the Existing Senior Facility Agreement and the Existing
Mezzanine Facility Agreement confirming that any Financial Indebtedness
outstanding under the Existing Senior Facility Agreement and/or the Existing
Mezzanine Facility Agreement will be discharged in full immediately upon the
Closing Date, it being understood that the signed version of such letter will
be available on the date of the first Utilisation and immediately prior
thereto, but will be held in escrow until the Closing Date has occurred.

(b)                                     Evidence of payment of fees, costs and
expenses (to be deducted from drawdown, subject to delivery and agreement being
reach in relation to invoices for costs and expenses).

(c)                                      Delivery of a Utilisation Request.

 142
 

 

Part II

Conditions Precedent required to be delivered by an Additional Obligor

1.                                 An Accession Letter executed by the
Additional Obligor and the Company.

2.                                 A copy of the constitutional documents of the
Additional Obligor.

4.                                 A copy of a good standing certificate
(including to the extent available verification of franchise or similar tax
status) with respect to each Additional Obligor whose jurisdiction of
organization is a state of the U.S. or the District of Columbia, issued as of a
recent date by the Secretary of State or other appropriate official of such
Additional Obligor’s jurisdiction of incorporation or organisation.

3.                                 A copy of a resolution of the board of
directors and/or shareholders of the Additional Obligor:

(a)                                      approving the terms of, and the transactions
contemplated by, the Accession Letter and the Finance Documents and resolving
that it execute the Accession Letter and any other Finance Document to which it
is a party;

(b)                                     authorising a specified person or persons to
execute the Accession Letter and other Finance Documents on its behalf; and

(c)                                      authorising a specified person or persons, on
its behalf, to sign and/or despatch all other documents and notices (including,
in relation to an Additional Borrower, any Utilisation Request or Selection
Notice) to be signed and/or despatched by it under or in connection with the
Finance Documents to which it is a party; and

(d)                                     authorising the Company to act as its agent
in connection with the Finance Documents.

5.                                 A specimen of the signature of each person
authorised by the resolution referred to in paragraph 3 above.

6.                                 With respect to any Additional Obligor whose
Relevant Jurisdiction is not Germany, a certificate of the Additional Obligor
(signed by a director or other authorised signatory) confirming that borrowing
or guaranteeing or securing, as appropriate, the Total Commitments would not
cause any borrowing, guarantee, security or similar limit binding on it to be
exceeded.

7.                                 A certificate of an authorised signatory of
the Additional Obligor certifying that each copy document listed in this Part
II of Schedule 2 is correct, complete and in full force and effect as at a date
no earlier than the date of the Accession Letter.

8.                                 The latest financial statements of the
Additional Obligor, audited, if available.

9.                                 The following legal opinions on the Accession
Letter, each addressed to the Facility Agent and the Lenders:

 143
 

 

(a)                                      A legal opinion of the legal advisers to the
Facility Agent in England, as to English law in the form distributed to the
Facility Agent prior to signing the Accession Letter.

(b)                                     If the Additional Obligor is incorporated in
a jurisdiction other than England or executing a Finance Document which is
governed by a law other than English law, a legal opinion of the legal advisers
to the Facility Agent in the jurisdiction of incorporation of that Additional
Obligor or, as the case may be, the jurisdiction of the governing law of that
Finance Document (the “Relevant Jurisdiction”)
as to the law of the Relevant Jurisdiction and in the form distributed to the
Facility Agent prior to signing the Accession Letter.

(c)                                      A legal opinion of [•], legal advisers to the
Additional Obligor on matters of U.S. law, substantially in the form
distributed to the Lenders prior to signing the Accession Letter.

10.                           If the proposed Additional Obligor is
incorporated in a jurisdiction other than England, evidence that the process
agent specified in Clause 42.2 (Service of
process), if not the Company, has accepted its appointment in
relation to the proposed Additional Obligor.

11.                           An accession memorandum to the Subordination
Agreement executed by the Additional Obligor.

12.

(a)                                      If the Additional Obligor is incorporated in
England and Wales or Scotland:

(i)                        Either a letter from the Company to the
Facility Agent (attaching supporting evidence from the Company’s English
Solicitors) confirming that the Additional Obligor is not prohibited by Section
151 of the Companies Act 1985 from entering into the Finance Documents; and/or

(ii)                     evidence that the Additional Obligor has done
all that is necessary (including, without limitation, by re registering as a
private company) to follow the procedures set out in Sections 151 to 158 of the
Companies Act 1985 in order to enable that Additional Obligor to enter into the
Finance Documents and perform its obligations under the Finance Documents.  The following documentary evidence shall be
supplied: a copy of the statutory declarations and annexed auditors reports,
board resolutions, shareholders resolutions (if applicable), a certificate of
that Additional Obligor listing all directors at the time the statutory
declarations are made and a non statutory comfort letter from its auditors
regarding its net asset position.  The
copy documents shall be certified by an authorised signatory of the Additional
Obligor as correct, complete and in full force and effect at a date no earlier
than the date of the Accession Letter.

(b)                                     If the Additional Obligor is not incorporated
in any country other England and Wales, such documentary evidence as legal
counsel to the Facility Agent may require, that such Additional Obligor has
complied with any law in its jurisdiction relating to financial assistance or
analogous process.

 144
 

 

13.                           A copy of any other Authorisation or other
document, opinion or assurance which the Facility Agent considers to be
necessary in connection with the entry into and performance of the transactions
contemplated by the Accession Letter and each Finance Document to which the
Additional Obligor is a party or for the validity and enforceability of any
Finance Document created or intended to be created by the Additional Obligor.

14.                           A certificate of the Chief Financial Officer
of each Additional Obligor whose jurisdiction of organisation is a state of the
U.S. or the District of Columbia stating that the respective company is Solvent
after giving effect to the initial Loans, the application of the proceeds of
the Loans in accordance with Clause 3 and the payment of all estimated legal, accounting
and other fees related to this Agreement and the consummation of the other
transactions contemplated by this Agreement. 
For purposes of this certificate, “Solvent”
means with respect to such Additional Obligor on any date of determination that
(a) the fair value of the property of such person is greater than the total
amount of liabilities (including contingent and unliquidated liabilities) of
such person; (b) the present fair saleable value of the assets of such person
is not less than the amount which will be required to pay the probably
liability of such person on its debts as they become absolute and mature; (c)
such person does not intend to, and does not believe that it will, incur debts
or liabilities beyond such person’s ability to pay as such debts and
liabilities mature; and (d) such person is not engaged in a business or
transaction, and is not about to engage in a business or transaction, for which
such person’s property would constitute unreasonably small capital.  In computing the amount of contingent or
unliquidated liabilities at any time, such liabilities will be computed at the
amount which, in light of all the facts and circumstances existing at such
time, represents the amount that can reasonably be expected to become an actual
and matured liability.

 145
 

 

SCHEDULE 3

REQUESTS

Part IA

Utilisation Request

Loans

From:      [Borrower]

To:          [Facility Agent]

Dated:

Dear Sirs

[Company] –
[·] Senior Facilities
Agreement

dated [·] (the “Facilities Agreement”)

	
  1.

  	
   

  	
  [We wish a Loan to be made on the following terms:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (a)

  	
  Borrower:

  	
   

  	
  [·]

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (b)

  	
  Proposed Utilisation Date:

  	
   

  	
  [·]
  (or, if that is not a Business Day, the next Business Day)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (c)

  	
  Facility to be utilised:

  	
   

  	
  [Facility A1]/[Facility A2] [Revolving Facility]]

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (d)

  	
  Currency of Loan:

  	
   

  	
  [·]

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (e)

  	
  Amount:

  	
   

  	
  [·]
  or, if less, the Available Facility

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (f)

  	
  Interest Period:

  	
   

  	
  [·]

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  We confirm on behalf of each Obligor and the Company
  that each condition specified in Clause 4.2 (Further Conditions Precedent)
  [in conjunction with Clause 4.3 (Certain Funds)] * is satisfied
  on the date of this Utilisation Request.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  [The proceeds of this Loan should be credited to
  [account]].

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  This Utilisation Request is irrevocable.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  Terms used in this Request which are not defined in
  this Request but are defined in the Facilities Agreement shall have the
  meaning given to those terms in the Facilities Agreement.

  
								

 

	
  

  	
  Yours faithfully

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [insert name of Borrower]

  	
   

  

 

*              To be used for first Utilisation

 146

 

Part IB

Utilisation Request

Bank Guarantees

From:                  [Borrower]

To:                              [Facility
Agent]

Dated:

Dear Sirs

[Company]   [•] Senior
Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 We wish to arrange for a Bank Guarantee to be
[issued]/[renewed] by the Issuing Bank on the following terms:

	
  (a)

  	
   

  	
  Borrower:

  	
   

  	
  [•]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (b)

  	
   

  	
  Proposed Utilisation Date:

  	
   

  	
  [•] (or, if
  that is not a Business Day, the next Business Day)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (c)

  	
   

  	
  Facility to be utilised:

  	
   

  	
  Revolving Facility

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (d)

  	
   

  	
  Currency of Bank Guarantee:

  	
   

  	
  [•]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (e)

  	
   

  	
  Amount:

  	
   

  	
  [•] or, if
  less, the Available Facility in relation to the Revolving Facility:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (f)

  	
   

  	
  Expiry Date

  	
   

  	
  [•]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (g)

  	
   

  	
  Term:

  	
   

  	
  [•]

  

 

2.                                 We confirm that each condition specified in
paragraph (c) of Clause 6.5 (Issue of Bank
Guarantees) is satisfied on the date of this Utilisation Request.

3.                                 We attach a copy of the proposed Bank
Guarantee.

4.                                 This Utilisation Request is irrevocable.

5.                                 Terms used in this Request which are not defined
in this Request but are defined in the Facilities Agreement shall have the
meaning given to those terms in the Facilities Agreement.

	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  authorised signatory for

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [insert name of Relevant
  Borrower]

  	
   

  

 

 147
 

 

Part II

Selection Notice

Applicable to a Term Loan

From:                  [Borrower]

To:                              [Facility
Agent]

Dated:

Dear Sirs

[Company]   [•] Senior
Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 We refer to the following Facility [A1]/[A2]
Loan[s] with an Interest Period ending on
[         ].

2.                                 [We request that the above Facility A1
Loan[s] be divided into [•] Facility A1
Loans with the following Base Currency Amounts and Interest Periods:]

or

[We request that the above
Facility A2 Loan[s] be divided into [•] Facility A2
Loans with the following Base Currency Amounts and Interest Periods:]

or

[We request that the next
Interest Period for the above Facility [A1]/[A2] Loan[s] is
[       ]].

3.                                 This Selection Notice is irrevocable.

4.                                 Terms used in this Selection Notice which are
not defined in this Selection Notice but are defined in the Facilities
Agreement shall have the meaning given to those terms in the Facilities
Agreement.

	
  

  	
   

  	
  Yours faithfully

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  authorised signatory for

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [insert name of Relevant Borrower]

  	
   

  
							

 

 148
 

 

SCHEDULE 4

MANDATORY COST FORMULAE

1.                                 The Mandatory Cost is an addition to the
interest rate to compensate Lenders for the cost of compliance with (a) the
requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.

2.                                 On the first day of each Interest Period (or
as soon as possible thereafter) the Facility Agent shall calculate, as a
percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out
below.  The Mandatory Cost will be
calculated by the Facility Agent as a weighted average of the Lenders’ Additional
Cost Rates (weighted in proportion to the percentage participation of each
Lender in the relevant Loan) and will be expressed as a percentage rate per
annum.

3.                                 The Additional Cost Rate for any Lender
lending from a Facility Office in a Participating Member State will be the
percentage notified by that Lender to the Facility Agent.  This percentage will be certified by that
Lender in its notice to the Facility Agent to be its reasonable determination
of the cost (expressed as a percentage of that Lender’s participation in all
Loans made from that Facility Office) of complying with the minimum reserve
requirements of the European Central Bank in respect of loans made from that
Facility Office.

4.                                 The Additional Cost Rate for any Lender
lending from a Facility Office in the United Kingdom will be calculated by the
Facility Agent as follows:

(a)                                      in relation to a sterling Loan:

	
  

  	
  per cent. per annum

  

 

(b)                                     in relation to a Loan in any currency other
than sterling:

	
  

  	
   per cent. per annum

  

 

Where:

A                               is the percentage of Eligible Liabilities
(assuming these to be in excess of any stated minimum) which that Lender is
from time to time required to maintain as an interest free cash ratio deposit
with the Bank of England to comply with cash ratio requirements.

B                                 is the percentage rate of interest (excluding
the Margin and the Mandatory Cost and, if the Loan is an Unpaid Sum, the
additional rate of interest specified in Clause 12.4 (Default interest)) payable for the
relevant Interest Period on the Loan.

 149
 

 

C                                 is the percentage (if any) of Eligible
Liabilities which that Lender is required from time to time to maintain as
interest bearing Special Deposits with the Bank of England.

D                                is the percentage rate per annum payable by
the Bank of England to the Facility Agent on interest bearing Special Deposits.

E                                  is designed to compensate Lenders for amounts
payable under the Fees Rules and is calculated by the Facility Agent as being
the average of the most recent rates of charge supplied by the Reference Banks
to the Facility Agent pursuant to paragraph 7 below and expressed in pounds per
£1,000,000.

5.                                 For the purposes of this Schedule:

(a)                                      “Eligible
Liabilities” and “Special Deposits”
have the meanings given to them from time to time under or pursuant to the Bank
of England Act 1998 or (as may be appropriate) by the Bank of England;

(b)                                     “Fees Rules”
means the rules on periodic fees contained in the FSA Supervision Manual or
such other law or regulation as may be in force from time to time in respect of
the payment of fees for the acceptance of deposits;

(c)                                      “Fee
Tariffs” means the fee tariffs specified in the Fees Rules under the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated
fee required pursuant to the Fees Rules but taking into account any applicable
discount rate); and

(d)                                     “Tariff
Base” has the meaning given to it in, and will be calculated in
accordance with, the Fees Rules.

6.                                 In application of the above formulae, A, B, C
and D will be included in the formulae as percentages (i.e. 5 per cent. will be
included in the formula as 5 and not as 0.05). 
A negative result obtained by subtracting D from B shall be taken as
zero.  The resulting figures shall be
rounded to four decimal places.

7.                                 If requested by the Facility Agent, each
Reference Bank shall, as soon as practicable after publication by the Financial
Services Authority, supply to the Facility Agent, the rate of charge payable by
that Reference Bank to the Financial Services Authority pursuant to the Fees
Rules in respect of the relevant financial year of the Financial Services
Authority (calculated for this purpose by that Reference Bank as being the
average of the Fee Tariffs applicable to that Reference Bank for that financial
year) and expressed in pounds per £1,000,000 of the Tariff Base of that
Reference Bank.

8.                                 Each Lender shall supply any information
required by the Facility Agent for the purpose of calculating its Additional
Cost Rate.  In particular, but without
limitation, each Lender shall supply the following information on or prior to
the date on which it becomes a Lender:

(a)                                      the jurisdiction of its Facility Office; and

 150
 

 

(b)                                     any other information that the Facility Agent
may reasonably require for such purpose.

Each Lender shall promptly
notify the Facility Agent of any change to the information provided by it
pursuant to this paragraph.

9.                                 The percentages of each Lender for the
purpose of A and C above and the rates of charge of each Reference Bank for the
purpose of E above shall be determined by the Facility Agent based upon the
information supplied to it pursuant to paragraphs 7 and 8 above and on the
assumption that, unless a Lender notifies the Facility Agent to the contrary, each
Lender’s obligations in relation to cash ratio deposits and Special Deposits
are the same as those of a typical bank from its jurisdiction of incorporation
with a Facility Office in the same jurisdiction as its Facility Office.

10.                           The Facility Agent shall have no liability to
any person if such determination results in an Additional Cost Rate which over
or under compensates any Lender and shall be entitled to assume that the
information provided by any Lender or Reference Bank pursuant to paragraphs 3,
7 and 8 above is true and correct in all respects.

11.                           The Facility Agent shall distribute the
additional amounts received as a result of the Mandatory Cost to the Lenders on
the basis of the Additional Cost Rate for each Lender based on the information
provided by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and
8 above.

12.                           Any determination by the Facility Agent
pursuant to this Schedule in relation to a formula, the Mandatory Cost, an
Additional Cost Rate or any amount payable to a Lender shall, in the absence of
manifest error, be conclusive and binding on all Parties.

13.                           The Facility Agent may from time to time,
after consultation with the Company and the Lenders, determine and notify to
all Parties any amendments which are required to be made to this Schedule in
order to comply with any change in law, regulation or any requirements from
time to time imposed by the Bank of England, the Financial Services Authority
or the European Central Bank (or, in any case, any other authority which
replaces all or any of its functions) and any such determination shall, in the
absence of manifest error, be conclusive and binding on all Parties.

 151
 

 

SCHEDULE 5

FORM OF TRANSFER CERTIFICATE

To:                              [•] as Facility
Agent

From:            [The Existing Lender] (the “Existing Lender”) and [The New Lender] (the
“New Lender”)

Dated:

[Company] – [•] Senior Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 We refer to Clause 27.5 (Procedure for transfer):

(a)                                      The Existing Lender and the New Lender agree
to the Existing Lender transferring to the New Lender by assignment and
transfer by novation all or part of the Existing Lender’s Commitment, rights
and obligations referred to in the Schedule in accordance with Clause 27.5 (Procedure for transfer).

(b)                                     The proposed Transfer Date is
[           ].

(c)                                      The Facility Office and address, fax number
and attention details for notices of the New Lender for the purposes of Clause
34.2 (Addresses) are set out in
the Schedule.

2.                                 The New Lender expressly acknowledges the
limitations on the Existing Lender’s obligations set out in paragraph (c) of
Clause 27.4 (Limitation of responsibility of
Existing Lenders).

3.                                 This Transfer Certificate is governed by
English law.

4.                                 Terms which are used in this Transfer
Certificate which are not defined in this Transfer Certificate but are defined
in the Facilities Agreement shall have the meaning given to those terms in the
Facilities Agreement.

 152
 

 

THE SCHEDULE

Commitment/rights and obligations to be transferred

[insert relevant details]

[Facility Office address, fax number
and attention details for notices and account details for payments,]

	
  [Existing
  Lender]

  	
  [New
  Lender]

  
	
   

  	
   

  
	
  By:

  	
  By:

  

 

This Transfer Certificate is accepted by the Facility Agent and the
Transfer Date is confirmed as
[           ].

[Facility Agent]

By:

 153
 

 

SCHEDULE 6

FORM OF ACCESSION LETTER

To:                          [•] as Facility Agent

From:                  [Subsidiary]
and [the Company]

Dated:

Dear Sirs

[Company] – [•] Senior Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 [Subsidiary]
agrees to become an Additional [Borrower]/[Guarantor] and to be bound by the
terms of the Facilities Agreement, the Subordination Agreement and the other
Finance Documents as an Additional [Borrower]/[Guarantor] pursuant to Clause
[28.2 (Additional Borrowers)]/[Clause
28.4 (Guarantors)] of the
Facility Agreement [and as an [Obligor] pursuant to clause [•] of the Subordination Agreement]. [Subsidiary] is a company duly incorporated
under the laws of [name of relevant
jurisdiction] and is a limited liability company and registered
number [•].

2.                                 [Subsidiary’s]
administrative details are as follows:

Address:

Fax No.:

Attention:

3.                                 [The Company confirms that no Default is
continuing or would occur as a result of a [Subsidiary] becoming an additional
Borrower.]*

4.                                 [Subsidiary confirms that the representations
and warranties referred to in Clause 22 (Representations)
are true and correct.]**

5.                                 This letter is governed by English law.

6.                                 Terms which are used in this Accession Letter
which are not defined in this Accession Letter but are defined in the
Facilities Agreement shall have the meaning given to those terms in the
Facilities Agreement.

[Company]                                           [Subsidiary]

NOTES:

*                                         Insert if Accession Letter is for an
Additional Borrower.

**                                  Insert if Accession Letter is from a Guarantor.

 154
 

 

SCHEDULE 7

FORM OF RESIGNATION LETTER

To:                              [•] as Facility
Agent

From:                  [resigning
Obligor] and [Company]

Dated:

Dear Sirs

[Company]   [•] Senior
Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 Pursuant to [Clause 28.3 (Resignation of an Obligor)], we request
that [resigning Obligor] be released from its obligations as a
[Borrower]/[Guarantor] under the Facilities Agreement, the Subordination
Agreement and the Finance Documents.

2.                                 We confirm that:

(a)                                      no Default is continuing or would result from
the acceptance of this request; and

(b)                                     [this request is given in relation to a
disposal of [resigning Obligor];]

(c)                                      [the Disposal Proceeds have been or will be
applied in accordance with Clause 11.9 (Disposal
proceeds);]

(d)                                     [•]

3.                                 This letter is governed by English law.

4.                                 Terms which are used in this resignation
letter which are not defined in this letter but are defined in the Facilities
Agreement shall have the meaning given to those terms in the Facilities
Agreement.

5.                                 The Company agrees to indemnify the Finance
Parties for any costs, expenses, or liabilities which would have been payable
by [resigning Obligor] in
connection with the Finance Documents but for the release set out in paragraph
1 above.

	
  [Company]

  	
  [resigning Obligor]

  
	
   

  	
   

  
	
  By:

  	
  By:

  

 

NOTES:

	
  *

  	
  Amend as appropriate, e.g. to reflect agreed
  procedure for payment of proceeds into a specified account.

  
	
   

  	
   

  
	
  **

  	
  Insert any other conditions required by the
  Facilities Agreement.

  

 

 155
 

 

SCHEDULE 8

FORM OF COMPLIANCE CERTIFICATE

To:                              [•]
as Facility Agent

From:                  [Company]

Dated:

Dear Sirs

[Company]   [•] Senior
Facilities Agreement

dated [•] (the “Facilities Agreement”)

1.                                 We refer to the Facilities Agreement.  This is a Compliance Certificate.

2.                                 We confirm that:

(a)                                      in respect of the Relevant Period ending on [•] Consolidated Total Net Debt for such
Relevant Period was [•] and
Consolidated Adjusted EBITDA for such Relevant Period on [•].  Therefore Consolidated Total Net Debt for
such Relevant Period was [•] times
Consolidated Adjusted EBITDA for such Relevant Period and the covenant
contained in paragraph (a) of Clause 24.2 (Financial
condition) [has/has not] been complied with;

(b)                                     On the last day of the Relevant Period ending
on [•] Cash Interest Costs was [•] and Consolidated Adjusted EBITDA for such Relevant Period
was [•]. Therefore Cash Interest Costs at
such time [did/did not] exceed [•] times
Consolidated Adjusted EBITDA for such Relevant Period and the covenant
contained in paragraph (b) of Clause 24.2 (Financial
Condition) [has/has not] been complied with;

(c)                                      On the last day of the Relevant Period ending
on [•] Consolidated Total Net Debt was [•] and Consolidated Adjusted EBITDA for such Relevant Period
was [•]. 
Therefore Consolidated Total Net Debt at that time was [greater than or
equal to [•] times Consolidated Adjusted EBITDA
for such Relevant Period]/[less than [•] times
Consolidated Adjusted EBITDA for such Relevant Period but greater than or equal
to [•] times Consolidated Adjusted EBITDA
for such Relevant Period]/[less than [•] times
Consolidated Adjusted EBITDA for such Relevant Period]

and accordingly the Margin
will be:

Facility
A1 Margin:                                                                             [•]
% p.a.

Facility
A2 Margin:                                                                             [•]
% p.a.

Revolving
Facility Margin:                                      [•]
% p.a.

3.                                 [We confirm that no Default is continuing.]*

 156
 

 

4.                                 [We confirm that the following companies
constitute Material Subsidiaries for the purposes of the Facility Agreement: [•].]

[We confirm that the
[aggregate of the earnings before interest, tax, depreciation and amortisation
(calculated on the same basis as Consolidated Adjusted EBITDA) of the
Guarantors,]/[the aggregate Gross Assets (including (by reference to the Group’s
reporting requirements under the Facilities Agreement), restricted short term
investments, accounts receivable, net inventories, prepaid expenses and other
non-current assets (but not intangible assets))] of the Guarantors (in each
case calculated on an unconsolidated basis and excluding all intra group items)
represents not less than [•] per cent of
[Consolidated Adjusted EBITDA,]/[consolidated Gross Assets of the Group].

	
  Signed

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Director

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  of

  	
  of

  
	
   

  	
   

  	
   

  
	
   

  	
  [Company]

  	
  [Company]

  

 

NOTES:

*                                   If this statement cannot be made, the
certificate should identify any Default that is continuing and the steps, if
any, being taken to remedy it.

 157
 

 

SCHEDULE 9

TIMETABLES

Part I

Loans

	
   

  	
   

  	
  Loans in euro

  	
   

  	
  Loans in dollars

  	
   

  	
  Loans in other 

  currencies

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent notifies the Company if a currency is
  approved as an Optional Currency in accordance with Clause 4.4 (Conditions relating
  to Optional Currencies)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  U 4

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Delivery of a duly completed Utilisation Request
  (Clause 5.1 (Delivery of a Utilisation
  Request)) or a Selection Notice (Clause 13.1 (Selection of Interest Periods and Terms))

  	
   

  	
  U 3 9.30am

  	
   

  	
  U 3 9.30am

  	
   

  	
  U 3 9.30am

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent determines (in relation to a
  Utilisation) the Base Currency Amount of the Loan, if required under Clause
  5.4 (Lenders’ participation)

  	
   

  	
  U 3 Noon

  	
   

  	
  U 3 noon

  	
   

  	
  U 3 noon

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent notifies the Lenders of the Loan in
  accordance with Clause 5.4 (Lenders’
  participation)

  	
   

  	
  U 3 3.00pm

  	
   

  	
  U 3 3.00pm

  	
   

  	
  U 3 3.00pm

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent receives a notification from a Lender
  under Clause 8.2 (Unavailability of a
  currency)

  	
   

  	
  U 3 5.00pm

  	
   

  	
  U 3 5.00pm

  	
   

  	
  U 3 5.00pm

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent gives notice in accordance with
  Clause 8.2 (Unavailability of a currency)

  	
   

  	
  U 2 9.30am

  	
   

  	
  U 2 9.30am

  	
   

  	
  U 2 9.30am

  

 158
 

 

 

	
   

  	
   

  	
  Loans in euro

  	
   

  	
  Loans in dollars

  	
   

  	
  Loans in other 

  currencies

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent determines amount of the Loan in
  Optional Currency in accordance with Clause 32.9 (Change of currency)

  	
   

  	
  U 3 11.00am

  	
   

  	
  U 3 11.00am

  	
   

  	
  U 3 11.00am

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LIBOR or EURIBOR is fixed

  	
   

  	
  Quotation Day as of 11:00 Brussels time in respect
  of EURIBOR

  	
   

  	
  Quotation Day as of 11:00 a.m.

  	
   

  	
  Quotation Day as of 11:00 a.m.

  

 

“U”                            =                                         date of utilisation

“U  
X”          =                                         X Business Days prior to date of utilisation

 159
 

 

Part II

Bank Guarantees

	
   

  	
   

  	
  Bank Guarantees

  
	
  Delivery of a
  duly completed Utilisation Request (Clause 6.2 (Delivery of a Utilisation Request for Bank Guarantees)

  	
   

  	
  U 3 9.30am

  
	
   

  	
   

  	
   

  
	
  Facility Agent
  determines (in relation to a Utilisation) the Base Currency Amount of the
  Bank Guarantee if required under paragraph (e) of Clause 6.5 (Issue of Bank Guarantees) and notifies
  the Issuing Bank and Lenders of the Bank Guarantee in accordance with
  paragraph (e) of Clause 6.5 (Issue of Bank
  Guarantees).

  	
   

  	
  U 1 noon

  

 

“U”                            =                                         date of utilisation

“U X”                =                                         Business Days prior to date of utilisation

 160
 

 

SCHEDULE 10

FORM OF LETTER OF CREDIT

To:                              [Beneficiary](the
“Beneficiary”)

Date

Irrevocable Standby Letter of Credit no. [•]

At the request of [•], [Issuing Bank] (the “Issuing Bank”) issues this irrevocable
standby Letter of Credit (“Letter of Credit”)
in your favour on the following terms and conditions:

1.                                 Definitions

In this Letter of Credit:

“Business Day” means a day (other than a Saturday or a Sunday)
on which banks are open for general business in [London].*

“Demand” means a demand for a payment under this Letter of
Credit in the form of the schedule to this Letter of Credit.

“Expiry Date” means [•].

“Total Letter of Credit Amount” means [•].

2.                                 Issuing Bank’s agreement

(a)                                      The Beneficiary may request a drawing or
drawings under this Letter of Credit by giving to the Issuing Bank a duly
completed Demand.  A Demand must be
received by the Issuing Bank by [•] p.m.
([London] time) on the Expiry Date.

(b)                                     Subject to the terms of this Letter of
Credit, the Issuing Bank unconditionally and irrevocably undertakes to the
Beneficiary that, within [ten] Business Days of receipt by it of a Demand, it
must pay to the Beneficiary the amount demanded in that Demand.

(c)                                      The Issuing Bank will not be obliged to make
a payment under this Letter of Credit if as a result the aggregate of all
payments made by it under this Letter of Credit would exceed the Total Letter
of Credit Amount.

3.                                 Expiry

(a)                                      The Issuing Bank will be released from its
obligations under this Letter of Credit on the date (if any) notified by the
Beneficiary to the Issuing Bank as the date upon which the obligations of the
Issuing Bank under this Letter of Credit are released.

(b)                                     Unless previously released under paragraph
(a) above, on [•] p.m.([London] time) on the
Expiry Date the obligations of the Issuing Bank under this Letter of Credit
will cease with no further liability on the part of the Issuing Bank except 

 161
 

 

for
any Demand validly presented under the Letter of Credit that remains unpaid.

(c)                                      When the Issuing Bank is no longer under any
further obligations under this Letter of Credit, the Beneficiary must return
the original of this Letter of Credit to the Issuing Bank.

4.                                 Payments

All payments under this
Letter of Credit shall be made in [•] and for
value on the due date to the account of the Beneficiary specified in the
Demand.

5.                                 Delivery of Demand

Each Demand shall be in
writing, and, unless otherwise stated, may be made by letter, fax or telex and
must be received in legible form by the Issuing Bank at its address and by the
particular department or office (if any) as follows:

[

                                                   ]

6.                                 Assignment

The Beneficiary’s rights
under this Letter of Credit may not be assigned or transferred.

7.                                 Governing Law

This Letter of Credit is
governed by English law.

8.                                 Jurisdiction

The courts of England have
exclusive jurisdiction to settle any dispute arising out of or in connection
with this Letter of Credit.

Yours faithfully

[Issuing Bank]

By:

NOTES:

*                                         This may need to be amended depending on the
currency of payment under the Letter of Credit.

 162
 

 

SCHEDULE

Form of Demand

To:                              [ISSUING BANK]

[Date]

Dear Sirs

Standby Letter of Credit no. [•] issued in favour of
[BENEFICIARY] (the “Letter of Credit”)

We refer to the Letter of Credit. 
Terms defined in the Letter of Credit have the same meaning when used in
this Demand.

1.                                 We certify that the sum of [•] is due [and has remained unpaid for at least [•] Business Days] [under [set out underlying contract or
agreement]].  We therefore demand payment
of the sum of [•].

2.                                 Payment should be made to the following
account:

Name:

Account Number:

Bank:

3.                                 The date of this Demand is not later than the
Expiry Date.

Yours faithfully

	
  (Authorised
  Signatory)

  	
  (Authorised
  Signatory)

  

 

For

[BENEFICIARY]

 163
 

 

SCHEDULE 11

GUARANTEE PRINCIPLES

1.                                 AGREED GUARANTEE PRINCIPLES

The guarantees to be
provided under the Finance Documents will be given in accordance with certain
agreed Guarantee Principles (the “Agreed
Guarantee Principles”). This Schedule addresses the manner in which
the Agreed Guarantee Principles will impact on the guarantees to be taken in
relation to this transaction.

The Finance Parties and the
Obligors have agreed and acknowledged that their rights and obligations under
the Finance Documents in respect of (i) the giving or taking of guarantees;
(ii) all the rights and obligations associated with such giving or taking of
guarantees shall be subject to and limited by the Agreed Guarantee Principles.
The Agreed Guarantee Principles embody the recognition by all parties that
there may be certain legal and practical difficulties in obtaining effective
guarantees from all members of the Group in every jurisdiction in which members
of the Group are located.  In particular:

(a)                                      general statutory limitations, financial
assistance, capital maintenance, corporate benefit, fraudulent preference, thin
capitalisation, retention of title claims and similar principles may limit the
ability of a member of the Group to provide a guarantee or may require that the
guarantee be limited by an amount or otherwise. If any such limit applies, the
guarantees provided will be limited to the maximum amount which the relevant
member of the Group may provide having regard to applicable law (including any
jurisprudence) and subject to fiduciary duties of management;

(b)                                     in particular, German capital maintenance
rules will require that upstream / cross-stream guarantees given by any German
company incorporated as a GmbH or GmbH &Co. KG be limited, in order to
avoid any liability of the management or the shareholders which may arise from
such an upstream or cross-stream guarantee (other than, in relation to the
shareholders only, any recourse claims);

(c)                                      the giving of a guarantee, will not be
required to the extent that it would incur any legal fees, registration fees,
stamp duty, taxes and any other fees or costs directly associated with such
guarantee which are disproportionate to the benefit obtained by the Finance
Parties;

(d)                                     in certain jurisdictions it may be either
impossible or impractical to grant guarantees in which event such guarantees
will not be granted;

(e)                                      members of the Group will not be required to
give guarantees if it is not within the legal capacity of the relevant members
of the Group or if, in the reasonable opinion of the directors of the relevant
members of the Group, the same would conflict with the fiduciary duties of
those directors or contravene any legal prohibition or result in personal or
criminal liability on the part of any officer or 

 164
 

 

result
in any significant risk of legal liability for the directors of any Group
company;

(f)                                        no perfection action will be required in
jurisdictions where a Guarantor is not located;

(g)                                     the terms of the guarantee should not be such
that, in the reasonable opinion of management of the relevant member of the
Group, they materially restrict the running of the business of or materially
adversely affect the tax arrangements of the relevant member of the Group in
the ordinary course as otherwise permitted by the Finance Documents.

2.                                 GUARANTORS

Save as provided in “Guarantors” (see page 3), each guarantee
will be an upstream, cross-stream and downstream guarantee for all liabilities
of the Borrowers under the Finance Documents in accordance with, and subject
to, the requirements of the Agreed Guarantee Principles in each relevant
jurisdiction.

3.                                 GERMAN GUARANTEE LIMITATIONS

(a)                                      If and to the extent that:

(i)                        a guarantee granted under the Facility
Agreement secures any Loans, (i) which are made to a corporation, or (ii) which
are deemed to be made to a corporation according to Section 8a paragraph 5
sentence 2 German Corporation Income Tax Act (Körperschaftsteuergesetz),
and which corporation is subject to German corporation income tax, (such Loans
being defined as a “German Loans”
and such corporation being defined as “German
Borrower”); and

(ii)                     the relevant Guarantor granting such
guarantee either (i) qualifies as a major shareholder (wesentlicher Anteilseigner) within the
meaning of Section 8a of the German Income Corporation Tax Act (Körperschaftssteuergesetz) of such German
Borrower or (ii) as an affiliated party within the meaning of Section 1
paragraph 2 of the German Foreign Trade Tax Act (Aussensteuergesetz) of such a major shareholder of such
German Borrower,

such guarantee (or any
enforceable judgment based thereon) shall not be enforced against assets of the
relevant Guarantor which qualify as LTIBR(s) if and to the extent such LTIBR(s)
are (i) encumbered in favour of any of the Finance Parties pursuant to a lien
arising under the general business terms (AGB-Pfandrecht)
of such Finance Party, (ii) the subject of a disposal restriction (Verfügungsbeschränkung) or (iii) subject
to enforcement pursuant to a submission to immediate foreclosure in the entire
property (Unterwerfung unter die sofortige
Zwangsvollstreckung in das gesamte Vermögen) of the relevant
Guarantor;

 165
 

 

“LTIBR” means any long term interest-bearing receivables as set
out in the decrees of the German Federal Ministry of Finance (Bundesfinanzministerium) of 15 July 2004
(IV A2-S 2742a-20/04), paragraphs 20 and 37, and of 22 July 2005
(IV-B7-S2742a-31/05), or as set out in any future law, administrative decree,
guideline or other pronouncement which overrules the aforementioned decrees,

(b)                                     The Facility Agent and each of the Lenders
individually undertake to deliver to each German Borrower as soon as reasonably
practicable after the Facilities have been made available to such German
Borrower a complete letter in the form of the sample back-to-back certificate
as published by the German Federal Ministry of Finance (Bundesfinanzministerium) on 20 October
2005 (IV B7 – S2742a – 43/05), or in the form of any successor sample form as
may be required by the German tax authorities (the “Certificate”).  The
Facility Agent (acting on behalf of the Lenders) shall send to the relevant
German Borrower an updated Certificate as soon as reasonably practicable (1)
upon any amendment to the Facilities or change in the Securities Interests
granted in relation to the Facilities, (2) if so required by the relevant
German Borrower for tax purposes. If the German tax authorities will not accept
a certificate issued by the Facility Agent each Lender will issue a certificate
individually. Reasonable costs of obtaining the certificates will be reimbursed
by the German Borrower.

4.                                 LIMITATION ON PAYMENT
OBLIGATIONS OF A GERMAN OBLIGOR

(a)                                      The Lenders’ right to claim and/or enforce
any payment obligation under or in connection with the Finance Documents (other
than a payment obligation of the German Obligor (as defined below) or of any
direct or indirect subsidiary of the German Obligor under the Term Facilities
or the Revolving Facility made available to the German Obligor or such
subsidiary) against an obligor organised as a company with limited liability
(GmbH) (the “German Obligor”)
shall at all times be limited to the extent that the enforcement would
otherwise lead to the situation that the German Obligor did not have sufficient
net assets (Reinvermögen)
(calculated in accordance with the jurisprudence from time to time of the German
Federal Supreme Count (Bundesgerichtshof)
or absent such jurisprudence, the jurisprudence of the Higher Regional Court (Oberlandesgericht) or Regional Courts (Landgericht) in the district of the
relevant German Obligor, relating to protection of liable capital under
sections 30 and 31 of the German Limited Liability Companies Act (GmbH-Gesetz)) to maintain its stated share
capital (Stammkapital) or
increase an existing shortage of the stated share capital, provided that for the purposes of the
calculation of the enforceable amount (if any) the following balance sheet
items shall be adjusted as follows:

(i)                        The amount of any increase of stated share
capital (Stammkapital) of the
German Obligor that has been effected after the date hereof shall be deducted from
the stated share capital unless such increase is required by law or envisaged
in the Structure Memorandum, or (y) matched by a corresponding increase in the
net assets of the relevant Obligor, or 

 166
 

 

(z) made with the consent of the Facility Agent (such
consent not to be unreasonably withheld). For the avoidance of
doubt, increasing the capital reserves (Rücklagen)
as referred to in Section 266 para. 3, items II. and III. of the German
Commercial Code (Handelsgesetzbuch – HGB)
of any German Guarantor shall not be restricted (and shall not require any
adjustments to the stated share capital) by virtue of this paragraph;

(iii)                  Any amount of mandatory reserves (Rücklagen) resulting from a decrease of
registered share capital (Kapitalherabsetzung)
and any amount of public subsidies (Subventionen
und andere öffentliche Beihilfen) received after the date hereof
which are subject to an unfulfilled commitment as to their use shall be added
to the registered share capital;

(iv)                 Loans provided after the date hereof to the
German Obligor, insofar such loans qualify as equity under the applicable
accounting principles and which do not have to be shown as liabilities on the
German Obligor’s balance sheet, shall be disregarded;

(v)                    To the extent the enforcement of the guarantee
would deprive the German Obligor of the ability to fulfil its obligations to
third parties (incurred, whether on a contingent or non-contingent basis, at
the time of enforcement or to continue its business, then, for the
determination of net assets, the assets of the German Obligor shall be
calculated at the lesser of their book value (Buchwert)
and their realisation value assuming a negative prognosis for the business
continuance (Liquidationswert bei negativer
Fortführungsprognose);

(vi)                 Loans and other contractual liabilities
incurred by the German Obligor in violation of the provisions of any of the
Finance Documents shall be disregarded to the extent such violation can be
attributed to wilful misconduct of the managing director (Geschäftsführer) of the German Obligor.

(b)                                     the limitations set out in paragraph (a)
above only apply if and to the extent that:

(i)                        within 20 business days following the receipt
of the notice of the Facility Agent (acting on behalf of the Lenders) of its
intention to claim and/or enforce any payment obligation against any German
Obligor (the “Envisaged Enforcement Date”),
the managing directors on behalf of the German Obligor have confirmed in
writing to the Facility Agent (i) to what extent the payment obligation relates
to primary liability which is an up-stream or cross-stream liability as
described in paragraph (a) and (ii) which amount of such up-stream and/or
cross-stream liability cannot be enforced as it would exceed the Net Assets of
the German Obligor and such confirmation is supported by conclusive evidence
satisfactory to the Facility Agent, including in particular, pro forma interim
financial statements as of the Envisaged Enforcement Date (the “Management Determination”) and the Facility
Agent has not contested the Management Determination; or

 167
 

 

(ii)                     within 40 business days from the date the
facility agent (acting on behalf of the finance parties) has contested the
management determination the facility agent receives a determination by
auditors of international standard and reputation (the “Auditor’s Determination”) appointed by the
German obligor of the amount of the net assets on the envisaged enforcement
date;

(c)                                      if the Facility Agent disagrees with the
Auditor’s Determination, it shall be entitled to further pursue their claims
and/or rights (if any) under the dispute solutions agreed upon and, in
particular, to contest the Auditor’s Determination in court and the German
Obligor shall be entitled to prove that this amount is necessary for
maintaining its stated share capital (calculated as of the date the demand for
payment and/or enforcement was made);

(d)                                     the German Obligor shall use reasonable
efforts to realize any and all of its assets that are shown in the balance
sheet with a book value (Buchwert)
that is significantly lower than the market value of the assets, or are not
recorded at all in a situation where the German Obligor does not have
sufficient Net Assets to maintain its registered share capital, provided that the relevant assets are in
the reasonable opinion of the German Obligor not required for the business of
the German Obligor (nicht
betriebsnotwendiges Vermögen);

(e)                                      the Lenders’ right to claim and/or enforce
this Guarantee shall be excluded at all, or exist only to a limited amount, if
the German Obligor delivers within the Envisaged Enforcement Date a legal
opinion issued by a law firm of international standard and reputation with
German qualified lawyers (Rechtsanwälte)
which:

(i)                        comes to the conclusion that the German
Obligor complying with its obligations under any of the finance documents has
exposed and/or would expose (based on legal literature which is (in the view of
the lawyer giving the opinion) widely accepted among German lawyers and/or
court decisions issued after the date of this agreement in relation to the
relevant issues which present the risk of liability as materially greater than
the risk of liability as presented by legal literature and/or court decisions
current on the date of this agreement) the managing directors of the German
obligor (or its shareholder’s or an affiliated company’s managing directors,
officers or board members) or an affiliated company (verbundenes unternehmen) to a significant risk of civil or
criminal liability; and

(ii)                     specifies the maximum amount to which the
payment and/or enforcement of any claims under or in connection with the
finance documents shall be limited to prevent the circumstances referred to in
the sub-paragraph immediately above from arising;

(f)                                        if the Facility Agent (acting on behalf of
the Lenders) disagrees with the conclusions of the abovementioned legal
opinion, the Facility Agent shall be entitled to further pursue its claims
and/or rights (if any) under the dispute solutions agreed upon and, in
particular, to contest the conclusions of the legal 

 168
 

 

opinion
(and therefore the limitations on the guarantees) in court, and the German
Obligor shall be entitled to prove what limitations under the relevant
guarantees are necessary to prevent the managing directors of the German
Obligor (or its shareholder’s or an affiliated company’s managing directors,
officers or board members) or an affiliated company to become subject to civil
or criminal liability and the conclusions of such dispute resolution processes
shall (subject to any rights of appeal) be effective between the parties (i.e.,
the limitations on the relevant guarantees shall be adjusted to reflect the
conclusions of such dispute resolution processes.

(g)                                     The limitations set out in paragraphs (a) to
(f) above shall apply mutatis mutandis to an Obligor organised under German law
as a limited partnership (Kommanditgesellschaft)
in respect to its general partner if such general partner is organised as a
GmbH.

5.                                 GUARANTEES GOVERNED BY ANY
LAW OTHER THAN GERMAN LAW

The aforesaid provisions
apply to all security irrespective of their governing law. However, where under
any applicable law other than German law the aforesaid provisions are
inappropriate, the provisions shall be replaced by such appropriate provision
under any applicable law which comes as close as possible to the inappropriate
provision.

 169
 

 

SCHEDULE 12

CERTAIN FUNDS DEFAULTS

(a)                            Failure by an Obligor to deliver each of the
documents set out in Schedule 2 Part I (Conditions
Precedent to Delivery of a Utilisation Request) or Part IA (Conditions Precedent to Drawdown) to be
provided by it.

(b)                           Any Event of Default under Clause 26.9 (Unlawfulness and invalidity) as a result
of any event or circumstance arising after the date hereof (including change of
law), provided that in such
circumstances the relevant parties shall do all things and execute all
documents required to enter into legally valid agreements achieving
substantially the same or commercially and legally equivalent results as
reflects the position immediately before such event or circumstance which
caused such Event of Default and a Certain Funds Default shall only occur if
after 20 Business Days after such event or circumstance first arising the
Lenders, acting reasonably and having made all reasonable commercial efforts,
have not been able to execute documents which achieve such substantially the
same or commercially and legally equivalent results.

(c)                            Any Event of Default under Clause 25.11 (Negative pledge) or Clause 25.17 (Financial Indebtedness) or Clause 25.7 (Acquisitions).

(d)                           Any material breach of the representations
and warranties in Clause 22.1 (Status)
and Clause 22.4 (Power and authority)
in relation to a Borrower.

(e)                            Any Default under Clause 26.1 (Non-Payment).

(f)                              Any Event of Default described in Clause 26.6
(Insolvency) or 26.7 (Insolvency Proceedings) in relation to a
Borrower.

 170

 

SCHEDULE 13

OVERVIEW LOANS AND SECURITIES SUBSIDIARIES

	
   

  	
   

  	
  Balance

  	
   

  	
  Balance

  	
   

  
	
  Sirona Dental Systems, Inc.

  	
   

  	
  Actual 30.09.06

  	
   

  	
  Estimate24.11.06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  LLC, USA

  	
   

  	
  USD

  	
   

  	
  4,686,596.70

  	
   

  	
  USD

  	
   

  	
  4,686,596.70

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EUR

  	
   

  	
  (1)3.699.263,31

  	
   

  	
  EUR

  	
   

  	
  (2)3.699.263,31

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subtotal
  amount

  	
   

  	
  EUR

  	
   

  	
  (1)3.699.263,31

  	
   

  	
  EUR

  	
   

  	
  (1)3.699.263,31

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Holding GmbH

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  Ltd., UK

  	
   

  	
  EUR

  	
   

  	
  792,187.81

  	
   

  	
  EUR

  	
   

  	
  792,187.81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subtotal
  amount

  	
   

  	
  EUR

  	
   

  	
  792,187.81

  	
   

  	
  EUR

  	
   

  	
  792,187.81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems GmbH

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ATR Advanced Technology
  Research, Italien

  	
   

  	
  EUR

  	
   

  	
  335,261.06

  	
   

  	
  EUR

  	
   

  	
  435,261.06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  SAS, Frankreich

  	
   

  	
  EUR

  	
   

  	
  926,299.86

  	
   

  	
  EUR

  	
   

  	
  (2)926,299.86

  	
  (2)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nitram Dental a/s,
  Dänemark

  	
   

  	
  EUR

  	
   

  	
  691,154.51

  	
   

  	
  EUR

  	
   

  	
  691,154.51

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  KK, Japan

  	
   

  	
  EUR

  	
   

  	
  (2)4,768,508.72

  	
   

  	
  EUR

  	
   

  	
  (2)4,768,508.72

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Equipos Dentales
  Iberica S.A., Spanien

  	
   

  	
  EUR

  	
   

  	
  (2)4,438,888.82

  	
   

  	
  EUR

  	
   

  	
  (2)4,438,888.82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  Foshan, China

  	
   

  	
  EUR

  	
   

  	
  (2)0.00

  	
   

  	
  EUR

  	
   

  	
  20.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Dental Systems
  Shanghai, China

  	
   

  	
  EUR

  	
   

  	
  0.00

  	
   

  	
  EUR

  	
   

  	
  0.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona Immobilien GmbH

  	
   

  	
  EUR

  	
   

  	
  1,222,462.87

  	
   

  	
  EUR

  	
   

  	
  1,400,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SiCat

  	
   

  	
  EUR

  	
   

  	
  1,324,235.46

  	
   

  	
  EUR

  	
   

  	
  1,534,235.46

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subtotal
  amount

  	
   

  	
  EUR

  	
   

  	
  13,706,831.30

  	
   

  	
  EUR

  	
   

  	
  14,194,368.43

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona International Holding
  GmbH

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sirona, Australien

  	
   

  	
  EUR

  	
   

  	
  (2)1,660,620.20

  	
   

  	
  EUR

  	
   

  	
  (2)1,660,620.20

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subtotal
  amount

  	
   

  	
  EUR

  	
   

  	
  1,660,620.20

  	
   

  	
  1,660,620.20

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Securities

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Overdraft/Leasing Japan
  (JPY 140,000,000.00)

  	
   

  	
  EUR

  	
   

  	
  1,000,000.00

  	
   

  	
  EUR

  	
   

  	
  1,000,000.00

  	
   

  
	
  Leasing France

  	
   

  	
  EUR

  	
   

  	
  150,000.00

  	
   

  	
  EUR

  	
   

  	
  150,000.00

  	
   

  
	
  Overdraft China (USD
  900,000.00)

  	
   

  	
  EUR

  	
   

  	
  750,000.00

  	
   

  	
  EUR

  	
   

  	
  750,000.00

  	
   

  
	
  Overdraft Australia
  (AUD 1,000,000.00)

  	
   

  	
  EUR

  	
   

  	
  650,000.00

  	
   

  	
  EUR

  	
   

  	
  650,000.00

  	
   

  
	
  Spain guarantee

  	
   

  	
  EUR

  	
   

  	
  180,000.00

  	
   

  	
  EUR

  	
   

  	
  180,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subtotal
  amount

  	
   

  	
  EUR

  	
   

  	
  2,730,000.00

  	
   

  	
  EUR

  	
   

  	
  2,730,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total
  amount relevant for § [  ]

  	
   

  	
  EUR

  	
   

  	
  18,889,619.31

  	
   

  	
  EUR

  	
   

  	
  19,377,176.44

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  541149 

  	
  Sirona
  Immobilien GmbH

  	
   

  	
  EUR

  	
   

  	
  15,628,446.77

  	
   

  	
  EUR

  	
   

  	
  15,628,446.77

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EUR

  	
   

  	
  34,518,066.08

  	
   

  	
  EUR

  	
   

  	
  35,005,623.21

  	
   

  
											

 

(2)           Valuated at exchange-rate of 30.09.06 (1 Euro
= 1,2669 USD)

(3)           Does not include securities

 171
 

 

SCHEDULE 14

FORM OF CERTIFICATE

	
  [To be sent by

  	
   

  	
  [Von]

  
	
  [Facility
  Agent]  

  	
   

  	
  [Facility Agent]

  
	
   

  	
   

  	
   

  
	
  [on behalf of
  each of]

  	
   

  	
  [jeweils namens und in Vollmacht der]

  
	
   

  	
   

  	
   

  
	
  [Lenders]

  	
   

  	
  [•] (“Darlehensgeber”)

  
	
   

  	
   

  	
   

  
	
  to

  	
   

  	
  an

  
	
  [German
  Borrower]

  	
   

  	
  [jeweiligen Darlehensnehmer]

  (“Darlehensnehmer”)

  
	
   

  	
   

  	
   

  
	
  Certification
  for presentation to the Tax Office for the purposes of Section 8a of
  Germany’s Corporation Tax Law

  	
   

  	
  Bescheinigung zur Vorlage beim Finanzamt für
  Zwecke des § 8a KStG

  
	
   

  	
   

  	
   

  
	
  You have asked
  the [relevant Lender] (“Lenders”)
  to issue a Certification for presentation to the Tax Office for the purposes
  of the Corporation Tax Law.

  	
   

  	
  Sie hatten [den jeweiligen Darlehensgeber] gebeten,
  zur Vorlage beim Finanzamt für Zwecke des § 8a KStG eine Bescheinigung
  auszustellen.

  
	
   

  	
   

  	
   

  
	
  We hereby
  declare that regarding the [Senior Facilities Agreement] of [•] in the amount
  of EUR [•] (“Loan”) to [German
  Borrower] (“Borrower”),

  	
   

  	
  Wir, die Darlehensgeber, haben an Sie, den
  Darlehensnehmer, gemäß dem Vertrag vom [•] (“Vertrag”) ein Darlehen (Betrag Euro [•]) gewährt (“Darlehen”).

  
	
   

  	
   

  	
   

  
	
  The following
  securities have been granted by persons other than the Borrower:

  	
   

  	
  Hierzu erklären wir, dass uns bezüglich des
  Darlehens die nachfolgend aufgeführten Sicherheiten von anderen Personen als
  dem Darlehensnehmer gewährt wurden:

  
	
   

  	
   

  	
   

  
	
  1. 

  	
  Security in rem

  	
                  

  	
  1.

  	
  Dingliche Sicherheiten

  
	
   

  	
   

  	
   

  
	
  Pledges / Liens
  (e.g. of deposits)

  	
   

  	
  Pfandrechte (z.B. an Einlagen)

  
	
   

  	
   

  	
   

  
	
  Assignments
  (e.g. assignments of receivables)

  	
   

  	
  Sicherungsabtretungen (z. B. Einzelabtretung von
  Forderungen)

  
	
   

  	
   

  	
   

  
	
  2. 

  	
  Personal
  security (e.g. surety, guarantee, assumption of debt)

  	
                                  

  	
  2.

  	
  Personalsicherheiten (z.B. Bürgschaft, Garantie,
  Schuldmitübernahme)

  
	
   

  	
   

  	
   

  	
   

  
	
  linked
  with the following:

  	
   

  	
  verbunden mit folgenden/r:

  
	
   

  	
   

  	
   

  
	
  securities in
  rem (e.g. on deposits)

  	
   

  	
  dinglichen Sicherheiten (z.B. an Einlagen)

  

 172
 

 

 

	
  Assignments (e.g.
  assignments of receivables; global assignments)

  	
   

  	
  Sicherungsabtretungen (z.B. Einzelabtretung von
  Forderungen; Global-/ Mantelabtretung von Forderungen)

  
	
   

  	
   

  	
   

  
	
  Submission to
  immediate foreclosure in respect of all assets or certain assets

  	
   

  	
  Unterwerfung unter die sofortige Zwangsvollstreckung
  mit dem gesamten Vermögen oder hinsichtlich einzelner` Vermögensgegenstände

  
	
   

  	
   

  	
   

  
	
  Agreed
  restraints on disposal

  	
   

  	
  vereinbarten Verfügungsbeschränkungen

  
	
   

  	
   

  	
   

  
	
  Other
  agreeements (e.g. pledges/liens under the General Standard Terms and
  Conditions), all security provided for the Loan/credit (e.g. land charge,
  mortgage, letter of comfort) and trust arrangements)

  	
   

  	
  sonstigen Vereinbarungen (z. B. Pfandrechte nach den
  Allgemeinen Geschäftsbedingungen, sämtliche für das Darlehen/ den Kredit
  bestellte Sicherheiten (z.B. Grundschuld, Hypothek, Patronatserklärung) und
  Treuhandverhältnisse)

  
	
   

  	
   

  	
   

  
	
  3. 

  	
  Securities as
  mentioned above that have waived during the term of the Loan

  	
   

  	
  3. 

  	
  Sicherheiten der o. g. Art, auf die während des
  bestehenden Darlehensverhältnisses verzichtet wurde

  
	
   

  	
   

  	
   

  
	
  Other comments
  (did any person (other than the Borrower) grant security without releasing
  the Lender from banking secrecy?)

  	
   

  	
  sonstige Anmerkungen (haben Personen (mit Ausnahme
  des Darlehensnehmers) Sicherheiten gewährt, diese aber den Darlehensgeber
  nicht vom Bankgeheimnis befreit?)

  
	
   

  	
   

  	
   

  
	
  This
  Certification is based solely on information that is known to the employees
  of the Lender[s] who have worked on the Loan.

  	
   

  	
  Die Bescheinigung enthält nur solche Angaben, die
  dem bei den Darlehensgebern mit der vorgenannten Finanzierung vertrauten
  Personenkreis bekannt sind.

  
	
   

  	
   

  	
   

  
	
  In providing
  this Certification, the Lender[s] – in the first place for legal reasons –
  [are] not offering any consultancy services on tax matters. In particular,
  the Lender[s] will not be responsible or liable for the Borrowers’ success in
  obtaining any tax benefits which are the objective of this Certification.

  	
   

  	
  Die Darlehensgeber übernehmen mit dieser Erklärung –
  bereits aus rechtlichen Gründen – keine Beratung in steuerlichen
  Angelegenheiten. Insbesondere stehen die Darlehensgeber nicht für einen
  steuerlichen Erfolg ein, der mit dieser Bescheinigung angestrebt wird.

  
					

 173
 

 

 

	
  Yours sincerely,

  	
   

  	
  Mit freundlichen Grüßen

  
	
   

  	
   

  	
   

  
	
  [on behalf of
  the] Lender[s]

  	
   

  	
  [im Namen der] Darlehensgeber

  

 

 174
 

 

SIGNATURES

THE MANDATED LEAD ARRANGERS

J.P. MORGAN PLC

	
  By:

  	
  /s/ PAUL HARRIS

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  10 Aldermanbury, London EC2V 7RF

  
	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7777 4548

  
	
   

  	
   

  
	
  Attention:

  	
  Eline Laodalaise / Clinton Ray

  

 

UBS LIMITED

	
  By:

  	
  /s/ LUKE JAGGAR

  	
   

  	
  /s/CHRISTIAN ROTHHARDT

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
  2 Finsbury Avenue, London EC2M 2PP

  
	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7568 4664

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Judith Campbell / Alan Greenhow

  	
   

  

 

THE ORIGINAL LENDERS

JPMORGAN CHASE BANK, N.A.

	
  By:

  	
  /s/ PAUL HARRIS

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  10 Aldermanbury, London EC2V 7RF

  
	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7777 4548

  
	
   

  	
   

  
	
  Attention:

  	
  Eline Laodalaise / Clinton Ray

  

 

UBS LIMITED

	
  By:

  	
  /s/ LUKE JAGGAR

  	
   

  	
  /s/CHRISTIAN ROTHHARDT

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  2 Finsbury Avenue, London EC2M 2PP

  	
   

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7568 4664

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Judith Campbell / Alan Greenhow

  	
   

  

 

 175
 

 

 

THE BOOKRUNNERS

J.P. MORGAN PLC

	
  By:

  	
  /s/ PAUL HARRIS

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  10 Aldermanbury, London EC2V 7RF

  
	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7777 4548

  
	
   

  	
   

  
	
  Attention:

  	
  Eline Laodalaise / Clinton Ray

  

 

 

UBS LIMITED

	
  By:

  	
  /s/ LUKE JAGGAR

  	
   

  	
  /s/CHRISTIAN ROTHHARDT

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  2 Finsbury Avenue, London EC2M 2PP

  	
   

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7568 4664

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Judith Campbell / Alan Greenhow

  	
   

  

 

 

THE FACILITY AGENT

J.P. MORGAN EUROPE LIMITED

	
  By:

  	
  /s/ PAUL HARRIS

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  10 Aldermanbury, London EC2V 7RF

  
	
   

  	
   

  
	
  Fax:

  	
  +44 (0) 20 7777 4548

  
	
   

  	
   

  
	
  Attention:

  	
  Eline Laodalaise / Clinton Ray

  

 

 

THE COMPANY

SIRONA DENTAL SYSTEMS, INC

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  30-00 47th Avenue, Long Island City, New York, NY
  11101, USA

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +1 718 482 2514

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Gregory Leahy / Simone Blank

  	
   

  

 

 176
 

 

THE ORIGINAL BORROWERS

SCHICK TECHNOLOGIES, INC

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  30-00 47th Avenue, Long Island City, New York, NY
  11101, USA

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +1 718 482 2514

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Gregory Leahy

  	
   

  

 

SIRONA DENTAL SYSTEMS GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

SIRONA DENTAL SERVICES GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

THE ORIGINAL GUARANTORS

SIRONA DENTAL SYSTEMS, INC.

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  30-00 47th Avenue, Long Island City, New York, NY
  11101, USA

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +1 718 482 2514

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Gregory Leahy / Simone Blank

  	
   

  

 

 177
 

 

SCHICK TECHNOLOGIES, INC

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  30-00 47th Avenue, Long Island City, New York, NY
  11101, USA

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +1 718 482 2514

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Gregory Leahy

  	
   

  

 

SIRONA DENTAL SYSTEMS GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

SIRONA DENTAL SYSTEMS, LLC

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  4835 Sirona Drive, Charlotte, NC 28273, PO Box
  410100, USA

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +1 704 587 9394

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Simone Blank

  	
   

  

 

SIRONA HOLDING GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

 178
 

 

SIRONA HOLDING GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

SIRONA
IMMOBILIEN GMBH

	
  By:

  	
  /s/ JOST FISCHER

  	
   

  	
  /s/ SIMONE BLANK

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  Fabrikstraße 31, 64625 Bensheim, Germany

  
	
   

  	
   

  	
   

  
	
  Fax:

  	
  +49 6251 16 24 44

  	
   

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
  Tom Redlich / Simone Blank

  	
   

  

 

 179

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]