Document:

exv10w1

Exhibit 10.1

 

$1,000,000,000

CREDIT AGREEMENT

Dated as of July 15, 2011

among

WYNDHAM WORLDWIDE CORPORATION,

as Borrower

THE LENDERS REFERRED TO HEREIN,

BANK OF AMERICA, N.A.,

as Administrative Agent,

JPMORGAN CHASE BANK, N.A.,

as Syndication Agent,

THE BANK OF NOVA SCOTIA,

DEUTSCHE BANK SECURITIES INC.,

THE ROYAL BANK OF SCOTLAND PLC and

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Co-Documentation Agents

 

J.P. MORGAN SECURITIES LLC and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Joint Bookrunners

J.P. MORGAN SECURITIES LLC,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

THE BANK OF NOVA SCOTIA, DEUTSCHE BANK SECURITIES INC.,

RBS SECURITIES INC. and CREDIT SUISSE SECURITIES (USA) LLC,

as Joint Lead Arrangers

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	1. DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	2. THE LOANS
	 	 	22	 
	 
	 	 	 	 
	SECTION 2.1 Revolving Commitments
	 	 	22	 
	SECTION 2.2. Loans
	 	 	22	 
	SECTION 2.3 Revolving Credit Borrowing Procedure
	 	 	23	 
	SECTION 2.4 Use of Proceeds
	 	 	23	 
	SECTION 2.5 Swingline Commitment
	 	 	24	 
	SECTION 2.6 Procedure for Swingline Borrowing; Refunding of Swingline Loans
	 	 	24	 
	SECTION 2.7 Competitive Bid Procedure — Competitive Loans
	 	 	26	 
	SECTION 2.8 Refinancings
	 	 	28	 
	SECTION 2.9 Fees
	 	 	29	 
	SECTION 2.10 Repayment of Loans; Evidence of Debt
	 	 	29	 
	SECTION 2.11 Interest on Loans
	 	 	30	 
	SECTION 2.12 Interest on Overdue Amounts
	 	 	31	 
	SECTUIB 2.13 Alternate Rate of Interest
	 	 	31	 
	SECTION 2.14 Termination, Reduction and Increase of Revolving Commitments
	 	 	31	 
	SECTION 2.15 Prepayment of Loans
	 	 	33	 
	SECTION 2.16 Eurocurrency Reserve Costs
	 	 	34	 
	SECTION 2.17 Reserve Requirements; Change in Circumstances
	 	 	34	 
	SECTION 2.18 Change in Legality
	 	 	36	 
	SECTION 2.19 Reimbursement of Lenders
	 	 	36	 
	SECTION 2.20 Pro Rata Treatment
	 	 	38	 
	SECTION 2.21 Right of Setoff
	 	 	38	 
	SECTION 2.22 Manner of Payments
	 	 	39	 
	SECTION 2.23 Taxes
	 	 	39	 
	SECTION 2.24 Certain Pricing Adjustments
	 	 	41	 
	SECTION 2.25 Prepayments Required Due to Currency Fluctuation
	 	 	41	 
	SECTION 2.26 Letters of Credit
	 	 	42	 
	SECTION 2.27 New Local Facilities
	 	 	49	 
	SECTION 2.28 Incremental Term Loans
	 	 	50	 
	SECTION 2.29 Loan Modification Offers
	 	 	51	 
	SECTION 2.30 Cash Collateral
	 	 	52	 
	SECTION 2.31 Defaulting Lenders
	 	 	53	 
	 
	 	 	 	 
	3. REPRESENTATIONS AND WARRANTIES OF BORROWER
	 	 	55	 
	 
	 	 	 	 
	SECTION 3.1 Corporate Existence and Power
	 	 	55	 
	SECTION 3.2 Corporate Authority, No Violation and Compliance with Law
	 	 	55	 
	SECTION 3.3. Governmental and Other Approval and Consents
	 	 	56	 
	SECTION 3.4 Financial Statements of Borrower
	 	 	56	 
	SECTION 3.5 No Change
	 	 	56	 
	SECTION 3.6 Copyrights, Patents and Other Rights
	 	 	56	 
	SECTION 3.7 Title to Properties
	 	 	57	 
	SECTION 3.8 Litigation
	 	 	57	 
	SECTION 3.9 Federal Reserve Regulations
	 	 	57	 

  i 

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 3.10 Investment Company Act
	 	 	57	 
	SECTION 3.11 Enforceability
	 	 	57	 
	SECTION 3.12 Taxes
	 	 	57	 
	SECTION 3.13 Compliance with ERISA
	 	 	58	 
	SECTION 3.14 Disclosure
	 	 	58	 
	SECTION 3.15 Environmental Liabilities
	 	 	58	 
	SECTION 3.16 Material Subsidiaries
	 	 	58	 
	SECTION 3.17 Anti-Terrorism Laws
	 	 	59	 
	 
	 	 	 	 
	4. CONDITIONS OF LENDING
	 	 	59	 
	 
	 	 	 	 
	SECTION 4.1 Conditions Precedent to Closing
	 	 	59	 
	SECTION 4.2 Conditions Precedent to Each Extension of Credit
	 	 	61	 
	 
	 	 	 	 
	5. AFFIRMATIVE COVENANTS
	 	 	62	 
	 
	 	 	 	 
	SECTION 5.1. Financial Statements, Reports, etc.
	 	 	62	 
	SECTION 5.2 Corporate Existence; Compliance with Statutes
	 	 	64	 
	SECTION 5.3 Insurance
	 	 	64	 
	SECTION 5.4 Taxes and Charges
	 	 	64	 
	SECTION 5.5 ERISA Compliance and Reports
	 	 	64	 
	SECTION 5.6 Maintenance of and Access to Books and Records; Examinations
	 	 	65	 
	SECTION 5.7 Maintenance of Properties
	 	 	65	 
	SECTION 5.8 Changes in Character of Business
	 	 	65	 
	 
	 	 	 	 
	6. NEGATIVE COVENANTS
	 	 	65	 
	 
	 	 	 	 
	SECTION 6.1 Limitation on Indebtedness
	 	 	65	 
	SECTION 6.2 Consolidation, Merger, Sale of Assets
	 	 	67	 
	SECTION 6.3 Limitations on Liens
	 	 	67	 
	SECTION 6.4 Sale and Leaseback
	 	 	68	 
	SECTION 6.5 Consolidated Leverage Ratio
	 	 	69	 
	SECTION 6.6 Consolidated Interest Coverage Ratio
	 	 	69	 
	SECTION 6.7 Accounting Practices
	 	 	69	 
	 
	 	 	 	 
	7. EVENTS OF DEFAULT
	 	 	69	 
	 
	 	 	 	 
	8. THE ADMINISTRATIVE AGENT AND EACH ISSUING LENDER
	 	 	71	 
	 
	SECTION 8.1 Administration by Administrative Agent
	 	 	71	 
	SECTION 8.2 Advances and Payments
	 	 	72	 
	SECTION 8.3 Sharing of Setoffs and Cash Collateral
	 	 	72	 
	SECTION 8.4 Notice to the Lenders
	 	 	73	 
	SECTION 8.5 Liability of Administrative Agent and each Issuing Lender
	 	 	73	 
	SECTION 8.6 Reimbursement and Indemnification
	 	 	74	 
	SECTION 8.7 Rights of Administrative Agent
	 	 	74	 
	SECTION 8.8 Independent Investigation by Lenders
	 	 	75	 
	SECTION 8.9 Notice of Transfer
	 	 	75	 
	SECTION 8.10 Successor Administrative Agent
	 	 	75	 
	SECTION 8.11 Resignation of an Issuing Lender or the Swingline Lender
	 	 	76	 

 ii 

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 8.12 Agents Generally
	 	 	76	 
	 
	 	 	 	 
	9. GUARANTY OF SUBSIDIARY BORROWER OBLIGATIONS
	 	 	76	 
	 
	 	 	 	 
	SECTION 9.1 Guaranty
	 	 	76	 
	SECTION 9.2 No Subrogation
	 	 	77	 
	SECTION 9.3 Amendments, etc. with respect to the Obligations; Waiver of Rights
	 	 	77	 
	SECTION 9.4 Guaranty Absolute and Unconditional
	 	 	78	 
	SECTION 9.5 Reinstatement
	 	 	79	 
	 
	 	 	 	 
	10. MISCELLANEOUS
	 	 	79	 
	 
	 	 	 	 
	SECTION 10.1 Notices
	 	 	79	 
	SECTION 10.2. Survival of Agreement, Representations and Warranties, etc.
	 	 	81	 
	SECTION 10.3 Successors and Assigns; Syndications; Loan Sales; Participations
	 	 	81	 
	SECTION 10.4 Expenses
	 	 	84	 
	SECTION 10.5 Indemnity
	 	 	85	 
	SECTION 10.6 CHOICE OF LAW
	 	 	85	 
	SECTION 10.7 No Waiver
	 	 	85	 
	SECTION 10.8 Extension of Maturity
	 	 	86	 
	SECTION 10.9 Amendments, etc.
	 	 	86	 
	SECTION 10.10 Severability
	 	 	87	 
	SECTION 10.11 SERVICE OF PROCESS; WAIVER OF JURY TRIAL
	 	 	88	 
	SECTION 10.12 Headings
	 	 	89	 
	SECTION 10.13 Execution in Counterparts
	 	 	89	 
	SECTION 10.14 Entire Agreement
	 	 	89	 
	SECTION 10.15 Confidentiality
	 	 	89	 
	SECTION 10.16 USA PATRIOT Act
	 	 	90	 
	SECTION 10.17 Replacement of Lenders
	 	 	90	 
	SECTION 10.18 No Advisory or Fiduciary Responsibility
	 	 	91	 

 iii 

 

SCHEDULES

	 	 	 	 	 	 	 

	 

	 	 	2.1	 	 	Commitments
	 

	 	 	2.26	 	 	Existing Letters of Credit
	 

	 	 	3.16	 	 	Material Subsidiaries

EXHIBITS

	 	 	 	 	 

	 

	 	A
	 	Form of Opinion of Kirkland & Ellis LLP
	 

	 	B
	 	Form of Assignment and Acceptance
	 

	 	C
	 	Form of Compliance Certificate
	 

	 	D-1
	 	Form of Competitive Bid Request
	 

	 	D-2
	 	Form of Competitive Bid Invitation
	 

	 	D-3
	 	Form of Competitive Bid
	 

	 	D-4
	 	Form of Competitive Bid Accept/Reject Letter
	 

	 	E
	 	Form of Revolving Credit Borrowing Request
	 

	 	F
	 	Form of Joinder Agreement
	 

	 	G-1
	 	Form of New Revolving Lender Supplement
	 

	 	G-2
	 	Form of New Incremental Lender Supplement
	 

	 	H
	 	Form of Commitment Increase Supplement
	 

	 	I
	 	Form of Australian Local Facility Amendment
	 

	 	J
	 	Form of Solvency Certificate

 iv 

 

          CREDIT AGREEMENT, dated as of July __, 2011, among WYNDHAM WORLDWIDE CORPORATION, a
Delaware corporation (the “Borrower”), the lenders party to this Agreement from time to
time (the “Lenders”), JPMORGAN CHASE BANK, N.A., as syndication agent (the “Syndication
Agent”), THE BANK OF NOVA SCOTIA, DEUTSCHE BANK SECURITIES INC., THE ROYAL BANK OF SCOTLAND
PLC, and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as co-documentation agents (the
“Co-Documentation Agents”), and BANK OF AMERICA, N.A., as administrative agent (the
“Administrative Agent”; together with the Syndication Agent, and the Co-Documentation
Agents, the “Agents”) for the Lenders.

          The parties hereto hereby agree as follows:

	1.	 	DEFINITIONS

          For the purposes hereof unless the context otherwise requires, the following terms shall have
the meanings indicated, all accounting terms not otherwise defined herein shall have the respective
meanings accorded to them under GAAP and all terms defined in the New York Uniform Commercial Code
and not otherwise defined herein shall have the respective meanings accorded to them therein:

     “Act” shall have the meaning assigned to such term in Section 10.16.

     “ABR Borrowing” shall mean a Borrowing comprised of ABR Loans.

     “ABR Loan” shall mean any Loan bearing interest at a rate determined by
reference to the Alternate Base Rate in accordance with the provisions of Section 2.

     “Administrative Agent” is defined in the preamble and includes each other
Person appointed as the successor Administrative Agent pursuant to Section 8.10.

     “Affiliate” shall mean as to any Person, any other Person which, directly or
indirectly, is in control of, is controlled by, or is under common control with, such
Person. For purposes of this definition, a Person shall be deemed to be “controlled by”
another if such latter Person possesses, directly or indirectly, power either to (i) vote
10% or more of the securities having ordinary voting power for the election of directors of
such controlled Person or (ii) direct or cause the direction of the management and policies
of such controlled Person whether by contract or otherwise.

     “Agents” is defined in the preamble.

     “Aggregate Exposure” shall mean, with respect to any Lender at any time, an
amount equal to the sum of (i) the amount of such Lender’s Revolving Commitment then in
effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s
Revolving Extensions of Credit then outstanding and (ii) the aggregate unpaid principal
amount of the Incremental Term Loans, if any, of such Lender then outstanding.

     “Aggregate Exposure Percentage” shall mean, with respect to any Lender at any
time, the ratio (expressed as a percentage) of such Lender’s Aggregate Exposure at such time
to the Aggregate Exposure of all Lenders at such time.

     “Agreement” shall mean, on any date, this Credit Agreement as originally in
effect on the Closing Date and as thereafter from time to time amended, supplemented,
amended and restated or otherwise modified from time to time and in effect on such date.

 

 

     “Alternate Base Rate” shall mean, for any day, a fluctuating rate per annum
equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in
effect for such day as publicly announced from time to time by Bank of America as its “prime
rate” (“Prime Rate”) and (c) LIBOR plus 1%. The Prime Rate is a rate set by Bank of
America based upon various factors including Bank of America’s costs and desired return,
general economic conditions and other factors, and is used as a reference point for pricing
some loans, which may be priced at, above, or below such announced rate. Any changes in such
price announced by Bank of America shall take effect at the opening of business on the day
specified in the public announcement of such change.

     “Applicable Law” shall mean, with respect to any Person, all provisions of
statutes, rules, regulations and orders of governmental bodies or regulatory agencies
applicable to such Person, and all binding orders and decrees of all courts and arbitrators
in proceedings or actions in which the Person in question is a party or is subject.

     “Assignment and Acceptance” shall mean an agreement in the form of Exhibit B
hereto, executed by the assignor, assignee and the other parties as contemplated thereby.

          “Australian Dollars” or “A$” shall mean lawful money of Australia.

          “Australian Local Facility Amendment” shall mean Local Facility Amendment No. 1, dated
as of the Closing Date, between the Borrower and the Lenders party thereto, in the form of Exhibit
I hereto.

     “Auto-Reinstatement Letter of Credit” shall have the meaning assigned to such
term in Section 2.26(j).

     “Basis Point” shall mean 1/100th of 1%.

     “Bank of America” shall mean Bank of America, N.A.

     “Board” shall mean the Board of Governors of the Federal Reserve System.

     “Bookrunners” shall mean, collectively, J.P. Morgan Securities LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated in their capacities as joint bookrunners.

     “Borrower” is defined in the preamble.

     “Borrower Materials” shall have the meaning assigned to such term in the last
paragraph of Section 5.1.

     “Borrowing” shall mean a group of Loans of a single Interest Rate Type made by
the Lenders (or in the case of a Competitive Borrowing, by the Lender or Lenders whose
Competitive Bids have been accepted pursuant to Section 2.7) on a single date and as to
which a single Interest Period is in effect.

     “Business Day” shall mean any day other than a Saturday, Sunday or other day on
which banks in the State of New York are permitted to close; provided,
however, that when used in connection with (x) a LIBOR Loan, the term “Business Day”
shall also exclude any day on which banks are not open for dealings in Dollar deposits or
deposits in any Optional Currency, as applicable, on the London Interbank market and (y) a
Local Competitive Loan, the term

 

 

	 	 	“Business Day” shall also exclude any day on which banks are not open for general
business in the principal financial center of the relevant jurisdiction.

     “Calculation Time” shall have the meaning assigned to such term in Section
2.25(a).

          “Canadian Dollars” or “C$” shall mean lawful money of Canada.

     “Capital Lease” shall mean as applied to any Person, any lease of any property
(whether real, personal or mixed) by that Person as lessee which, in accordance with GAAP,
is or should be accounted for as a capital lease on the balance sheet of that Person.

     “Cash Collateral Account” shall mean a collateral account established with the
Administrative Agent, in the name of the Administrative Agent and under its sole dominion
and control, into which the Borrower or any Subsidiary Borrower shall from time to time
deposit Dollars, or Cash Equivalents, in the case of any such deposit made pursuant to
Section 2.26(g), pursuant to the express provisions of this Agreement requiring such
deposit.

     “Cash Collateralize” shall mean to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the Issuing Lender or Swingline Lender (as
applicable) and the Lenders, as collateral for L/C Exposure, Obligations in respect of
Swingline Loans, or obligations of Lenders to fund participations in respect of either
thereof (as the context may require), into a Cash Collateral Account cash or deposit account
balances or, if the Issuing Lender or Swingline Lender benefitting from such collateral
shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance reasonably satisfactory to (a) the Administrative Agent
and (b) the Issuing Lender or the Swingline Lender (as applicable). “Cash
Collateral” shall have a meaning correlative to the foregoing and shall include the
proceeds of such cash collateral and other credit support.

     “Cash Equivalents” shall mean any of the following, to the extent acquired for
investment and not with a view to achieving trading profits: (i) obligations fully backed
by the full faith and credit of the United States of America maturing not in excess of
twelve months from the date of acquisition, (ii) commercial paper maturing not in excess of
twelve months from the date of acquisition and rated at least “P-1” by Moody’s or “A-1” by
S&P on the date of such acquisition, (iii) the following obligations of any Lender or any
domestic commercial bank having capital and surplus in excess of $500,000,000, which has, or
the holding company of which has, a commercial paper rating meeting the requirements
specified in clause (ii) above: (a) time deposits, certificates of deposit and acceptances
maturing not in excess of twelve months from the date of acquisition, or (b) repurchase
obligations with a term of not more than thirty days for underlying securities of the type
referred to in clause (i) above, (iv) money market funds that invest exclusively in interest
bearing, short-term money market instruments and adhere to the minimum credit standards
established by Rule 2a-7 of the Investment Company Act of 1940 (17 C.F.R. §270.2A-7 (April
1, 2004), and (v) municipal securities: (a) for which the pricing period in effect is not
more than twelve months long and (b) rated at least “P-1” by Moody’s or “A-1” by S&P.
Notwithstanding the foregoing, auction rate securities shall not constitute Cash
Equivalents.

     “Cendant” shall mean Cendant Corporation, a Delaware corporation.

     “Change in Control” shall mean (i) the acquisition by any Person or group
(within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities
and Exchange Commission thereunder as in effect on the Closing Date), directly or
indirectly, beneficially or of

 

 

	 	 	record, of ownership or control of in excess of 35% of the voting common stock of the
Borrower on a fully diluted basis at any time or (ii) if at any time, individuals who on the
Closing Date constituted the Board of Directors of the Borrower (together with any new
directors whose election by such Board of Directors or whose nomination for election by the
shareholders of the Borrower, as the case may be, was approved by a vote of the majority of
the directors then still in office who were either directors on the Closing Date or whose
election or a nomination for election was previously so approved) cease for any reason to
constitute a majority of the Board of Directors of the Borrower then in office.

     “Closing Date” shall mean the date on which the conditions precedent set forth
in Section 4.1 have been satisfied or waived.

     “Code” shall mean the Internal Revenue Code of 1986, as amended.

     “Co-Documentation Agents” is defined in the preamble.

     “Commitment Increase Notice” shall have the meaning assigned to such term in
Section 2.14(d).

     “Competitive Bid” shall mean an offer by a Revolving Lender to make a
Competitive Loan pursuant to Section 2.7, in the form of Exhibit D-3.

     “Competitive Bid Accept/Reject Letter” shall mean a notification made by the
Borrower or any Subsidiary Borrower pursuant to Section 2.7(d) in the form of Exhibit D-4.

     “Competitive Bid Rate” shall mean as to any Competitive Bid for a Competitive
Loan made by a Revolving Lender pursuant to Section 2.7(b), (a) in the case of a LIBOR Loan,
the Margin and (b) in the case of a Fixed Rate Competitive Loan, the fixed rate of interest
offered by the Revolving Lender making such Competitive Bid.

     “Competitive Bid Request” shall mean a request made pursuant to Section 2.7 in
the form of Exhibit D-1.

     “Competitive Borrowing” shall mean a Borrowing consisting of a Competitive Loan
or concurrent Competitive Loans from the Revolving Lender or Revolving Lenders whose
Competitive Bids for such Borrowing have been accepted by the Borrower or any Subsidiary
Borrower under the bidding procedure described in Section 2.7.

     “Competitive Loan” shall mean a Loan from a Revolving Lender to the Borrower or
any Subsidiary Borrower pursuant to the bidding procedure described in Section 2.7. Each
Competitive Loan shall be a LIBOR Competitive Loan or a Fixed Rate Competitive Loan.

     “Confidential Information” shall mean information concerning the Borrower, its
Subsidiaries or its Affiliates which is non-public, confidential or proprietary in nature,
or any information that is marked or designated confidential by or on behalf of the
Borrower, which is furnished to any Lender by the Borrower or any of its Affiliates directly
or through the Administrative Agent in connection with this Agreement or the transactions
contemplated hereby (at any time on, before or after the date hereof), together with all
analyses, compilations or other materials prepared by such Lender or its respective
directors, officers, employees, agents, auditors, attorneys, consultants or advisors which
contain or otherwise reflect such information.

 

 

     “Consolidated Assets” shall mean, at any date of determination, the total
assets of the Borrower and its Consolidated Subsidiaries determined in accordance with GAAP.

     “Consolidated Audited Financial Statements” shall have the meaning assigned to
such term in Section 3.4(a).

     “Consolidated EBITDA” shall mean, without duplication, for any period for which
such amount is being determined, the sum of the amounts for such period of (i) Consolidated
Net Income, (ii) provision for taxes based on income, (iii) depreciation expense, (iv)
Consolidated Interest Expense, (v) amortization expense, (vi) payments in an aggregate
amount not to exceed $35,000,000 during any Rolling Period that arise out of or in
connection with the Spin-Off including those made in respect of legacy Cendant expense
reimbursement obligations, (vii) cash restructuring charges in an aggregate amount not to
exceed $35,000,000 after the Closing Date taken in connection with publicly announced
business and operation restructurings provided that any such restructuring charges taken in
any fiscal quarter shall, for purposes of calculating Consolidated EBITDA, be deemed to be
taken 25% in such fiscal quarter and 25% in each of the following three fiscal quarters and
(viii) other non-cash items reducing Consolidated Net Income, minus (plus) (ix) any
non-recurring gains (losses) on business exit activities outside the ordinary course of
business if such gains (losses) are included in Consolidated Net Income) minus (x)
any cash expenditures during such period in excess of $25,000,000 to the extent such cash
expenditures (A) did not reduce Consolidated Net Income for such period and (B) were applied
against reserves that constituted non-cash items which reduced Consolidated Net Income
during prior periods (including reserves established upon the consummation of the Spin-Off),
all as determined on a consolidated basis for the Borrower and its Consolidated Subsidiaries
in accordance with GAAP; provided that to the extent the aggregate amount of cash
expenditures referred to in clause (x) above exceeds $50,000,000 in any period of
measurement, such amounts may be spread ratably over the period being measured and the
periods of measurement for the subsequent three fiscal years, provided,
however, that in any annual measurement period the maximum amount being spread may
not exceed $100,000,000 and any excess over that amount must be reflected fully in the
relevant measurement period. Notwithstanding the foregoing, in calculating Consolidated
EBITDA pro forma effect shall be given to each (1) acquisition of a Consolidated Subsidiary
or any other entity acquired by the Borrower or any of its Consolidated Subsidiaries in a
merger, where the purchase price or merger consideration exceeds $25,000,000 during such
period and (2) disposition property by the Borrower and its Consolidated Subsidiaries
yielding gross profits in excess of $25,000,000 during such period as if such acquisition or
disposition had been made on the first day of such period.

     “Consolidated Financial Statements” shall have the meaning assigned to such
term in Section 3.4(b).

     “Consolidated Interest Coverage Ratio” shall mean, for any period, the ratio of
(a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such
period.

     “Consolidated Interest Expense” shall mean for any period for which such amount
is being determined, total interest expense paid or payable in cash (including that properly
attributable to Capital Leases in accordance with GAAP but excluding in any event (x) all
capitalized interest and amortization of debt discount and debt issuance costs and (y) debt
extinguishment costs) of the Borrower and its Consolidated Subsidiaries on a consolidated
basis including, without limitation, all commissions, discounts and other fees and charges
owed with respect to letters of credit and bankers’ acceptance financing and net cash costs
(or minus net profits) under Interest Rate Protection Agreements minus, without
duplication, any interest

 

 

income of the Borrower and its Consolidated Subsidiaries on a consolidated basis during
such period. Notwithstanding the foregoing, interest expense in respect of any
Securitization Indebtedness or any Non-Recourse Indebtedness shall not be included in
Consolidated Interest Expense.

     “Consolidated Leverage Ratio” shall mean, as of the last day of any period, the
ratio of (a) Consolidated Total Indebtedness on such day to (b) Consolidated EBITDA for such
period.

     “Consolidated Net Income” shall mean, for any period for which such amount is
being determined, the net income (or loss) of the Borrower and its Consolidated Subsidiaries
during such period determined on a consolidated basis for such period taken as a single
accounting period in accordance with GAAP, provided that there shall be excluded (i)
income (loss) of any Person (other than a Consolidated Subsidiary of the Borrower) in which
the Borrower or any of its Consolidated Subsidiaries has any equity investment or comparable
interest, except to the extent of the amount of dividends or other distributions actually
paid to the Borrower or its Consolidated Subsidiaries by such Person during such period,
(ii) the income of any Consolidated Subsidiary of the Borrower to the extent that the
declaration or payment of dividends or similar distributions by that Consolidated Subsidiary
of the income is not at the time permitted by operation of the terms of its charter, or any
agreement, instrument, judgment, decree, order, statute, rule or governmental regulation
applicable to that Consolidated Subsidiary, (iii) any extraordinary after-tax gains and (iv)
any extraordinary or unusual pretax losses (including indemnity obligations incurred or
liabilities assumed in connection with the Spin-Off).

     “Consolidated Net Worth” shall mean, as of any date of determination, all items
which in conformity with GAAP would be included under shareholders’ equity on a consolidated
balance sheet of the Borrower and its Subsidiaries at such date.

     “Consolidated Subsidiaries” shall mean all Subsidiaries of the Borrower that
are required to be consolidated with the Borrower for financial reporting purposes in
accordance with GAAP.

     “Consolidated Total Indebtedness” shall mean (i) the total amount of
Indebtedness of the Borrower and its Consolidated Subsidiaries determined on a consolidated
basis using GAAP principles of consolidation, which is, at the dates as of which
Consolidated Total Indebtedness is to be determined, includable as liabilities on a
consolidated balance sheet of the Borrower and its Subsidiaries, plus (ii) without
duplication of any items included in Indebtedness pursuant to the foregoing clause (i),
Indebtedness of others which the Borrower or any of its Consolidated Subsidiaries has
directly or indirectly assumed or guaranteed (but only to the extent so assumed or
guaranteed) or otherwise provided credit support therefor, including without limitation,
Guaranty Obligations; provided that, for purposes of this definition, Indebtedness
shall not include (1) Guaranty Obligations and contingent liabilities incurred or assumed in
connection with the Spin-Off (including those determined in accordance with FIN 45 and
SFAS), (2) Securitization Indebtedness, (3) the aggregate undrawn amount of outstanding
Letters of Credit, (4) Non-Recourse Indebtedness, or (5) obligations incurred under any
derivatives transaction entered into in the ordinary course of business pursuant to hedging
programs. In addition, for purposes of this definition, the amount of Indebtedness at any
time shall be reduced (but not to less than zero) by the amount of Excess Cash.

     “Consolidated Unaudited Financial Statements” shall have the meaning assigned
to such term in Section 3.4(b).

          “Currency” shall mean Dollars or any Optional Currency.

 

 

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

     “Default” shall mean any event, act or condition, which with notice or lapse of
time, or both, would constitute an Event of Default.

     “Defaulting Lender” shall mean, subject to Section 2.31, any Lender that, as
reasonably determined by the Administrative Agent, (a) has failed to perform any of its
funding obligations hereunder including in respect of its Loans or participations in respect
of Letters of Credit or Swingline Loans within three Business Days of the date required to
be funded by it hereunder, unless such obligation is the subject of a good faith dispute,
(b) has notified the Borrower or the Administrative Agent that it does not intend to comply
with its funding obligations hereunder, unless such obligation is the subject of a good
faith dispute, or has made a public statement to that effect with respect to its funding
obligations hereunder or (c) has, or has had a direct or indirect parent company that has,
(i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or a custodian appointed for it,
or (iii) taken any action in furtherance of, or indicated its consent to, approval of or
acquiescence in any such proceeding or appointment unless, in each case, such Lender has
confirmed in writing its intention to fulfill its funding obligations hereunder;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the
ownership or acquisition of any equity interest in that Lender or any direct or indirect
parent company thereof by a Governmental Authority.

     “Disclosed Matters” shall mean public filings with the Securities and Exchange
Commission made by the Borrower or any of its Subsidiaries on Form S-4, Form 8-K, Form 10-Q,
Form 10-K or Form 10 (as filed at least three days prior to the Closing Date, as applicable)
or any successor form.

     “Dollar Equivalent” shall mean, on any date of determination, (a) with respect
to any amount denominated in Dollars, such amount, and (b) with respect to an amount
denominated in any Optional Currency, the equivalent in Dollars of such amount determined by
the Administrative Agent in accordance with normal banking industry practice using the
Exchange Rate on the date of determination of such equivalent. In making any determination
of the Dollar Equivalent (for purposes of calculating the amount of Loans to be borrowed
from the respective Lenders on any date or for any other purpose), the Administrative Agent
shall use the relevant Exchange Rate in effect on the date on which the Borrower or any
Subsidiary Borrower delivers a Borrowing Request for Loans or on such other date upon which
a Dollar Equivalent is required to be determined pursuant to the provisions of this
Agreement. As appropriate, amounts specified herein as amounts in Dollars shall be or
include any relevant Dollar Equivalent amount.

     “Dollars” and “$” shall mean lawful money of the United States of
America.

     “Domestic LIBOR Competitive Loan” shall mean any LIBOR Competitive Loan made to
the Borrower or any Subsidiary Borrower in the United States.

     “Domestic Fixed Rate Competitive Loan” shall mean any Fixed Rate Competitive
Loan made to the Borrower or any Subsidiary Borrower in the United States.

 

 

     “Domestic Subsidiary Borrower” shall mean any Subsidiary Borrower organized
under the laws of the United States or any political subdivision thereof.

     “Eligible Assignee” shall mean (i) any Lender, (ii) an Affiliate of any Lender
and (iii) any other Person approved by the Administrative Agent, the relevant Issuing
Lender, the Swingline Lender and the Borrower (such approvals not to be unreasonably
withheld or delayed) provided the consent of the Borrower shall not be required so
long as an Event of Default has occurred and is continuing; provided that “Eligible
Assignee” shall not include (x) any natural person, (y) any Defaulting Lender or any of its
Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of
the foregoing Persons described in this clause (y), or (z) with respect to any revolving
facility under this Agreement (including any Revolving Commitment) the Borrower or any of
its Subsidiaries or controlled Affiliates.

     “EMU Legislation” shall mean the legislative measures of the European Council
(including without limitation the European Council regulations) for the introduction of,
changeover to or operation of the Euro in one or more member states.

     “Environmental Law” shall mean all laws, rules, orders, regulations, statutes,
ordinances, codes, decrees, judgments, injunctions, notices or requirements issued,
promulgated or entered into by any Governmental Authority, relating in any way to the
environment, preservation or reclamation of natural resources, the management, release or
threatened release of any Hazardous Material or to health and safety matters, including
without limitation, the Clean Water Act also known as the Federal Water Pollution Control
Act (“FWPCA”) 33 U.S.C. § 1251 et seq., the Clean Air Act
(“CAA”), 42 U.S.C. §§ 7401 et seq., the Federal Insecticide,
Fungicide and Rodenticide Act (“FIFRA”), 7 U.S.C. §§ 136 et seq.,
the Surface Mining Control and Reclamation Act (“SMCRA”), 30 U.S.C. §§ 1201
et seq., the Comprehensive Environmental Response, Compensation and
Liability Act (“CERCLA”), 42 U.S.C. § 9601 et seq., the Superfund
Amendment and Reauthorization Act of 1986 (“SARA”), Public Law 99-499, 100 Stat.
1613, the Emergency Planning and Community Right to Know Act (“ECPCRKA”), 42 U.S.C.
§ 11001 et seq., the Resource Conservation and Recovery Act
(“RCRA”), 42 U.S.C. § 6901 et seq., the Occupational Safety and
Health Act as amended (“OSHA”), 29 U.S.C. § 655 and § 657, together, in each case,
with any amendment thereto, and the regulations adopted and binding publications promulgated
thereunder and all substitutions thereof.

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

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as such
Act may be amended from time to time, and the regulations promulgated thereunder.

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

 

 

     “ERISA Event” shall mean (a) any “reportable event,” as defined in Section 4043
of ERISA or the regulations issued thereunder as in effect on the date hereof (other than an
event for which the 30-day notice period is waived pursuant to regulations as in effect on
the date hereof) with respect to a Plan; (b) the failure by any Plan to satisfy the minimum
funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of
ERISA) applicable to such Plan, whether or not waived; (c) a determination that any Plan is,
or is expected to be, in “at risk” status (within the meaning of Section 430 of the Code or
Section 303 of ERISA); (d) the incurrence by the Borrower or any of its ERISA Affiliates of
any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the
receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any
notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to
administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates of
any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice,
or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any
notice, concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, Insolvent, in Reorganization, or in
“endangered” or “critical” status (within the meaning of Section 432 of the Code or Section
305 of ERISA).

     “Euro” and “€” shall mean the single currency of Participating Member
States introduced in accordance with the provisions of Article 123 of the Treaty and, in
respect of all payments to be made under this Agreement in Euro, means immediately
available, freely transferable funds in such currency.

     “Event of Default” shall have the meaning given such term in Section 7 hereof.

     “Excess Cash” shall mean all cash and Cash Equivalents of the Borrower and its
Consolidated Subsidiaries at such time determined on a consolidated basis in accordance with
GAAP in excess of $10,000,000.

     “Exchange Rate” shall mean, on any day, with respect to any Optional Currency,
the rate at which such currency may be exchanged into Dollars, as set forth at approximately
11:00 a.m. Eastern time, on such day on the Bloomberg Benchmark Currency Rates page for such
Optional Currency, and provided that the Issuing Lender may use such exchange rate quoted on
the date as of which the foreign exchange computation is made in the case of any Letter of
Credit denominated in an Optional Currency. In the event that such rate does not appear on
any Bloomberg Benchmark Currency Rates page, the Exchange Rate shall be determined by
reference to such publicly available service for displaying exchange rates as may be agreed
upon in writing between the Borrower and the Administrative Agent.

     “Excluded Taxes” shall mean, with respect to any Lender, or any other recipient
of payment to be made by or on account of any obligation of the Borrower or any Subsidiary
Borrower hereunder or under any Fundamental Document, (a) income taxes and franchise taxes
based on (or measured by) its net income or net profits (or franchise taxes imposed in lieu
of net income taxes) imposed on such Lender or other recipient as a result of a present or
former connection between such Lender or such recipient and the jurisdiction of the
Governmental Authority imposing such tax or any political subdivision or taxing authority
thereof or therein (other than any such connection arising solely from the Administrative
Agent or such Lender having executed, delivered or performed its obligations or received a
payment hereunder, or enforced, this Agreement), (b) any branch profits taxes imposed by the
United States of America or any similar tax imposed by any other jurisdiction, (c) any
withholding tax that is imposed on

 

 

	 	 	amounts payable to such Lender in Dollars, or any other recipient of any payment to be
made by or on account of any obligation denominated in Dollars of the Borrower or any
Domestic Subsidiary Borrower hereunder, at the time such Lender becomes a party to this
Agreement (or designates a new Lending Office), except to the extent that such Lender (or
its assignor, if any) was entitled, immediately prior to the time of designation of a new
Lending Office (or assignment), to receive additional amounts from the Borrower or any
Domestic Subsidiary Borrower with respect to such withholding tax pursuant to Section
2.23(a), (d) Taxes attributable to such Lender’s failure to comply with Section 2.23(e), and
(e) any Taxes imposed as a result of such Lender’s gross negligence or willful misconduct.

     “Existing Issuing Lender” shall mean any issuer of an Existing Letter of
Credit.

     “Existing Letters of Credit” shall mean the letters of credit described on
Schedule 2.26 hereto.

     “Facility Fee” shall have the meaning given such term in Section 2.9(a) hereof.

     “Federal Funds Rate” shall mean, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the
Federal Reserve System arranged by Federal funds brokers on such day, as published by the
Federal Reserve Bank of New York on the Business Day next succeeding such day,
provided that (a) if such day is not a Business Day, the Federal Funds Rate for such
day shall be such rate on such transactions on the next preceding Business Day as so
published on the next succeeding Business Day, and (b) if no such rate is so published on
such next succeeding Business Day, the Federal Funds Rate for such day shall be the average
rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of
America on such day on such transactions as determined by the Administrative Agent.

     “Fixed Rate Borrowing” shall mean a Borrowing comprised of Fixed Rate
Competitive Loans.

     “Fixed Rate Competitive Loan” shall mean a Competitive Loan (either a Domestic
Fixed Rate Competitive Loan or a Local Fixed Rate Competitive Loan) bearing interest at a
fixed percentage rate per annum (expressed in the form of a decimal to no more than four
decimal places) specified by the Lender making such Loan in its Competitive Bid.

     “Fronting Exposure” shall mean, at any time there is a Defaulting Lender, (a)
with respect to the Issuing Lender, such Defaulting Lender’s Revolving Percentage of the L/C
Exposure other than L/C Exposure as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with
the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s
percentage of Swingline Loans other than Swingline Loans as to which such Defaulting
Lender’s participation obligation has been reallocated to other Lenders or Cash
Collateralized in accordance with the terms hereof.

     “Fundamental Documents” shall mean this Agreement, any Notes and any Compliance
Certificate which is required to be executed by the Borrower or any Subsidiary Borrower
pursuant to Section 5.1(c) and delivered to the Administrative Agent in connection with this
Agreement.

 

 

     “Funding Office” shall mean the office of the Administrative Agent specified in
Section 10.1 or such other office as may be specified from time to time by the
Administrative Agent as its funding office by written notice to the Borrower and the
Lenders.

     “GAAP” shall mean generally accepted accounting principles in the United States
as in effect from time to time. In the event that any “Accounting Change” (as defined
below) shall occur and such change results in a change in the method of calculation of
financial covenants, standards or terms in this Agreement, then the Borrower and the
Administrative Agent agree upon written request of the Borrower or Administrative Agent, as
applicable, to enter into negotiations in order to amend such provisions of this Agreement
so as to reflect equitably such Accounting Changes with the desired result that the criteria
for evaluating the Borrower’s financial condition shall be the same after such Accounting
Changes as if such Accounting Changes had not been made. If an agreement to amend cannot be
made after 45 days following delivery of such written request, all financial covenants,
standards and terms in this Agreement shall continue to be calculated or construed as if
such Accounting Changes had not occurred. “Accounting Changes” refers to changes in
accounting principles required by the promulgation of any rule, regulation, pronouncement or
opinion by the Financial Accounting Standards Board of the American Institute of Certified
Public Accountants or, if applicable, the Securities and Exchange Commission.

     “Governmental Authority” shall mean any federal, state, municipal or other
governmental department, commission, board, bureau, agency or instrumentality, or any court,
in each case whether of the United States or foreign.

     “Granting Lender” shall have the meaning assigned to such term in Section
10.3(k).

     “Guaranty” shall mean the guaranty of the Subsidiary Borrower Obligations
provided by the Borrower pursuant to Section 9.

     “Guaranty Obligation” shall mean any obligation, contingent or otherwise, of
the Person guaranteeing or having the economic effect of guaranteeing any Indebtedness of
any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (a) to
purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness or to purchase (or to advance or supply funds for the purchase of) any security
for the payment thereof, (b) to purchase or lease property, securities or services for the
purpose of assuring the owner of such Indebtedness of the payment thereof, (c) to maintain
working capital, equity capital or any other financial statement condition or liquidity of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or (d) as
an account party in respect of any letter of credit or letter of guaranty issued to support
such Indebtedness; provided, however, that in calculating the amount of any
Guaranty Obligation for any purpose under this Agreement, the amount of such Guaranty
Obligation shall be limited to the extent necessary so that such amount does not exceed the
value of the assets of such Person (as reflected on a consolidated balance sheet of such
Person prepared in accordance with GAAP) to which any creditor or beneficiary of such
Guaranty Obligation would have recourse. Notwithstanding the foregoing definition, the term
“Guaranty Obligation” shall not include any direct or indirect obligation of a Person as a
general partner of a general partnership or a joint venturer of a joint venture in respect
of Indebtedness of such general partnership or joint venture, to the extent such
Indebtedness is contractually non-recourse to the assets of such Person as a general partner
or joint venturer (other than assets comprising the capital of such general partnership or
joint venture). The term “Guaranty Obligation” shall not include endorsements for
collection or deposit in the ordinary course of business.

 

 

     “Hazardous Materials” shall mean all explosive or radioactive substances or
wastes and all hazardous or toxic substances, wastes or other pollutants, including
petroleum or petroleum distillates, asbestos or asbestos containing materials,
polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances
or wastes of any nature regulated pursuant to any Environmental Law.

     “Incremental Amendment” shall have the meaning assigned to such term in Section
2.28(a).

     “Incremental Lender” shall have the meaning assigned to such term in Section
2.28(a).

     “Incremental Term Loans” shall have the meaning assigned to such term in
Section 2.28(a).

     “Indebtedness” shall mean (without double counting), at any time and with
respect to any Person, (i) indebtedness of such Person for borrowed money (whether by loan
or the issuance and sale of debt securities) or for the deferred purchase price of property
or services purchased (other than amounts constituting account payables arising in the
ordinary course and payable within 180 days); (ii) indebtedness of others of the type
described in clause (i), (iii), (iv) or (v) of this definition of Indebtedness, which such
Person has directly or indirectly assumed or guaranteed (but only to the extent so assumed
or guaranteed) or otherwise provided credit support therefor, including without limitation,
Guaranty Obligations; (iii) indebtedness of others secured by a Lien on assets of such
Person, whether or not such Person shall have assumed such indebtedness (but only to the
extent of the fair market value of such assets); (iv) obligations of such Person in respect
of letters of credit, acceptance facilities, or drafts or similar instruments issued or
accepted by banks and other financial institutions for the account of such Person (other
than account payables arising in the ordinary course and payable within 180 days); or (v)
obligations of such Person under Capital Leases.

     “Indemnified Party” shall have the meaning assigned to such term in Section
10.5.

     “Indemnified Taxes” shall mean Taxes other than Excluded Taxes and Other Taxes.

     “Insolvent” shall mean, with respect to any Multiemployer Plan, the condition
that such plan is insolvent within the meaning of Section 4245 of ERISA.

     “Interest Payment Date” shall mean, with respect to any Borrowing, the last day
of the Interest Period applicable thereto and, in the case of a LIBOR Borrowing with an
Interest Period of more than three months’ duration or a Fixed Rate Borrowing with an
Interest Period of more than 90 days’ duration, each day that would have been an Interest
Payment Date had successive Interest Periods of three months duration or 90 days’ duration,
as the case may be, been applicable to such Borrowing, and, in addition, the date of any
refinancing or conversion of a Borrowing with, or to, a Borrowing of a different Interest
Rate Type; provided, that as to any Swingline Loan, “Interest Payment Date” shall
mean the day that such Loan is required to be repaid.

     “Interest Period” shall mean (a) as to any LIBOR Borrowing, the period
commencing on the date of such Borrowing, and ending on the numerically corresponding day
(or, if there is no numerically corresponding day or if the date of the LIBOR Borrowing is
the last day of any month, on the last day) in the calendar month that is 1, 2, 3, 6 or,
subject to each Lender’s approval, 9 or 12 months thereafter, as the Borrower or any
applicable Subsidiary Borrower may

 

 

	 	 	elect, (b) as to any ABR Borrowing, the period commencing on the date of such Borrowing
and ending on the earliest of (i) the next succeeding March 31, June 30, September 30 or
December 31, (ii) the Maturity Date and (iii) the date such Borrowing is refinanced with a
Borrowing of a different Interest Rate Type in accordance with Section 2.8 or is prepaid in
accordance with Section 2.15 and (c) as to any Fixed Rate Borrowing, the period commencing
on the date of such Borrowing and ending on the date specified in the Competitive Bids in
which the offer to make the Fixed Rate Competitive Loans comprising such Borrowing were
extended, which shall not be earlier than one day after the date of such Borrowing or later
than 360 days after the date of such Borrowing; provided, however, that (i)
if any Interest Period would end on a day other than a Business Day, such Interest Period
shall be extended to the next succeeding Business Day unless, in the case of LIBOR Loans
only, such next succeeding Business Day would fall in the next calendar month, in which case
such Interest Period shall end on the next preceding Business Day and (ii) no Interest
Period may be selected which would extend beyond the Maturity Date. Interest shall accrue
from, and including, the first day of an Interest Period to, but excluding, the last day of
such Interest Period.

     “Interest Rate Protection Agreement” shall mean any interest rate swap
agreement, interest rate cap agreement or other similar financial agreement or arrangement.

     “Interest Rate Type” when used in respect of any Loan or Borrowing, shall refer
to the Rate by reference to which interest on such Loan or on the Loans comprising such
Borrowing is determined. For purposes hereof, “Rate” shall include LIBOR, the Alternate
Base Rate and the Fixed Rate.

     “Issuance” shall mean with respect to any Letter of Credit, the issuance,
amendment, renewal or extension of such Letter of Credit, provided that the
reinstatement of any Letter of Credit shall not constitute an issuance of such Letter of
Credit.

     “Issuing Lender” shall mean, either JPMorgan Chase Bank or Bank of America (in
the case of Letters of Credit that are denominated in Dollars and issued for the account of
the Borrower or any Domestic Subsidiary Borrower), and such other Lenders or Affiliates
thereof as may be designated in writing by the Borrower and consented to in writing by the
Administrative Agent (such consent not to be unreasonably withheld) which agree in writing
to act as such in accordance with the terms hereof (including any Existing Issuing Lender).

     “Joinder Agreement” shall have the meaning assigned to such term in Section
10.9(b).

     “JPMorgan Chase Bank” shall mean JPMorgan Chase Bank, N.A.

     “Landal” shall mean Landal Greenparks Holding B.V.

     “Landal Facilities” shall mean one or more debt facilities, extensions of
credit, loans, securities issuances, commercial paper facilities or other forms of
Indebtedness providing for revolving credit loans, term loans, receivables financing,
(including through the sale of receivables to such lenders or to special purpose entities
formed to borrow from such lenders against such receivables), notes, letters of credit,
debentures, mortgages or any other form of financing entered into by Landal or any of its
Subsidiaries or any successor entity (whether by asset sale, merger or otherwise) to Landal
or any of its Subsidiaries, in each case, as amended, restated, modified, renewed, refunded,
replaced (whether upon or after termination or otherwise) or refinanced in whole or in part
from time to time.

 

 

     “L/C Exposure” shall mean, at any time, the amount expressed in Dollars of the
aggregate face amount of all drafts which may then or thereafter be presented by
beneficiaries under all Letters of Credit then outstanding plus (without duplication) the
face amount of all drafts which have been presented under Letters of Credit but have not yet
been paid or have been paid but not reimbursed; provided that L/C Exposure shall not exceed
$350,000,000 at any time.

     “Lender and “Lenders” is defined in the preamble and includes any
assignee of a Lender permitted pursuant to Section 10.3(b).

     “Lending Office” shall mean, with respect to any of the Lenders, the branch or
branches (or affiliate or affiliates) from which any such Lender’s LIBOR Loans, Fixed Rate
Competitive Loans or ABR Loans, as the case may be, are made or maintained and for the
account of which all payments of principal of, and interest on, such Lender’s LIBOR Loans,
Fixed Rate Competitive Loans or ABR Loans are made, as notified to the Administrative Agent
from time to time.

     “Letter of Credit” shall have the meaning assigned to such term in Section
2.26.

     “Letter of Credit Application” shall mean an application and agreement for the
issuance or amendment of a letter of credit in the form from time to time in use by the
Issuing Lender.

     “Letter of Credit Fee” shall have the meaning assigned to such term in Section
2.26.

     “LIBOR” shall mean:

     (a) for any Interest Period with respect to a LIBOR Loan, the rate per annum equal to
(i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by
Reuters (or such other commercially available source providing quotations of BBA LIBOR as
may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two London Banking Days prior to the commencement of such Interest
Period, for Dollar deposits or deposits in any Optional Currency, as applicable, (for
delivery on the first day of such Interest Period) with a term equivalent to such Interest
Period or (ii) if such rate is not available at such time for any reason, the rate per annum
determined by the Administrative Agent to be the rate at which deposits in Dollars or
deposits in any Optional Currency, as applicable, for delivery on the first day of such
Interest Period in same day funds in the approximate amount of the LIBOR Loan being made,
continued or converted and with a term equivalent to such Interest Period would be offered
by Bank of America’s London Branch to major banks in the London interbank eurodollar market
at their request at approximately 11:00 a.m. (London time) two London Banking Days prior to
the commencement of such Interest Period; and

     (b) for any interest calculation with respect to an ABR Loan on any date, the rate per
annum equal to (i) BBA LIBOR, at approximately 11:00 a.m. London time determined two London
Banking Days prior to such date for Dollar deposits being delivered in the London interbank
market for a term of one month commencing that day or (ii) if such published rate is not
available at such time for any reason, the rate per annum determined by the Administrative
Agent to be the rate at which deposits in Dollars for delivery on the date of determination
in same day funds in the approximate amount of the ABR Loan being made or maintained and
with a term equal to one month would be offered by Bank of America’s London Branch to major
banks in the London interbank eurodollar market at their request at the date and time of
determination

     “LIBOR Borrowing” shall mean a Borrowing comprised of LIBOR Loans.

 

 

     “LIBOR Competitive Loan” shall mean a Competitive Loan (either a Domestic LIBOR
Competitive Loan or a Local LIBOR Competitive Loan) bearing interest at a rate determined by
reference to LIBOR in accordance with the provisions of Section 2.

     “LIBOR Loan” shall mean any LIBOR Competitive Loan or LIBOR Revolving Credit
Loan.

     “LIBOR Revolving Credit Loan” shall mean any Revolving Credit Loan bearing
interest at a rate determined by reference to LIBOR in accordance with the provisions of
Section 2.

     “LIBOR Spread” shall mean, at any date or any period of determination, the
LIBOR Spread that would be in effect on such date or during such period pursuant to the
applicable chart set forth in Section 2.24 based on the rating of the Borrower’s senior
non-credit enhanced unsecured long-term debt.

     “Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust,
lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such
asset and (b) the interest of a vendor or a lessor under any conditional sale agreement,
capital lease or title retention agreement (or any financing lease having substantially the
same economic effect as any of the foregoing) relating to such asset.

     “Loan” shall mean any loan made by any Lender pursuant to this Agreement.

     “Loan Modification Offer” shall have the meaning assigned to such term in
Section 2.29.

     “Loan Parties” shall mean the Borrower and the Subsidiary Borrowers.

     “Local Competitive Loan” shall mean any Competitive Loan which is a Local LIBOR
Competitive Loan or a Local Fixed Rate Competitive Loan.

     “Local Facility Amendment” shall have the meaning assigned to such term in
Section 2.27(a).

     “Local Fixed Rate Competitive Loan” shall mean any Fixed Rate Competitive Loan
denominated in any Optional Currency made to the Borrower or any Subsidiary Borrower in the
jurisdiction in which such Optional Currency is the national currency.

     “Local LIBOR Competitive Loan” shall mean any LIBOR Competitive Loan
denominated in any Optional Currency made to the Borrower or any Subsidiary Borrower in the
jurisdiction in which such Optional Currency is the national currency.

     “London Banking Day” shall mean any day on which dealings in Dollar deposits
are conducted by and between banks in the London interbank eurodollar market.

     “Margin” shall mean, as to any LIBOR Competitive Loan, the margin (expressed as
a percentage rate per annum in the form of a decimal to four decimal places) to be added to,
or subtracted from, LIBOR in order to determine the interest rate applicable to such Loan,
as specified in the Competitive Bid relating to such Loan.

     “Margin Stock” shall be as defined in Regulation U of the Board.

 

 

     “Material Adverse Effect” shall mean a material adverse effect on, or material
adverse change in, the business, assets, operations or condition, financial or otherwise, of
the Borrower and its Subsidiaries, taken as a whole, other than any change, effect or
circumstance to the extent resulting from (i) disruptions in, or the inability of companies
engaged in businesses similar to those engaged in by the Borrower and its Subsidiaries to
consummate financings in, the asset backed securities or conduit market or (ii) tax and
related liabilities relating to Cendant’s taxable years 2003 through 2006 arising under the
Borrower’s tax sharing agreement with Cendant, provided that after giving pro forma
effect to the payments of such liabilities the Borrower would be in pro forma compliance
with the covenants contained in this Agreement and the other Fundamental Documents.

     “Material Subsidiary” shall mean any Subsidiary (other than a Securitization
Entity) of the Borrower which, together with its Subsidiaries (other than Securitization
Entities) at the time of determination hold, or, solely with respect to Sections 7(f) and
7(g), any group of Subsidiaries which, if merged into each other at the time of
determination would hold, assets constituting 15% or more of Consolidated Assets or accounts
for 15% or more of Consolidated EBITDA for the Rolling Period immediately preceding the date
of determination.

     “Maturity Date” shall mean July __, 2016, as such date may be extended pursuant
to Section 2.29.

     “Moody’s” shall mean Moody’s Investors Service, Inc.

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

     “New Lender” shall have the meaning assigned to such term in Section 2.14(e).

     “New Local Facility” shall have the meaning assigned to such term in Section
2.27(a). The aggregate Dollar Equivalent amounts of such New Local Facilities shall not
exceed $250,000,000 at any time.

     “New Local Facility Lender” shall have the meaning assigned to such term in
Section 2.27(a).

     “New Zealand Dollars” or “NZ$” shall mean the lawful money of New
Zealand.

     “Non-Consenting Lender” shall have the meaning assigned to such term in Section
10.17.

     “Non-Recourse Indebtedness” shall mean a transaction or series of transactions
pursuant to which the Borrower or any other Person (i) issues Indebtedness secured by,
payable from or representing beneficial interests in assets of such Person for which neither
the Borrower nor any of its Material Subsidiaries is liable in any way other than pursuant
to Standard Securitization Undertakings (unless such liability of the Borrower or such
Material Subsidiary is otherwise permitted to be incurred hereunder by the Borrower or such
Material Subsidiary) or (ii) transfers or grants a security interest in assets of such
Person to any Person that finances the acquisition of such assets through the issuance of
securities or the incurrence of Indebtedness or issues obligations secured by such assets.

     “Non-Reinstatement Deadline” shall have the meaning assigned to such term in
Section 2.26(j).

 

 

     “Notes” shall mean any promissory notes evidencing Loans.

     “Obligations” shall mean the obligation of the Borrower and any Subsidiary
Borrower to make due and punctual payment of principal of, and interest on, the Loans, the
Facility Fee, reimbursement obligations in respect of Letters of Credit and all other
monetary obligations of the Borrower or any Subsidiary Borrower to the Administrative Agent,
any Issuing Lender or any Lender under this Agreement or the Fundamental Documents
(including under the New Local Facilities).

     “Offered Increase Amount” shall have the meaning assigned to such term in
Section 2.14(d).

     “Optional Currency” shall mean, at any time, Australian Dollars, Canadian
Dollars, Euros, New Zealand Dollars, Pounds and Yen, so long as such currency is freely
traded and convertible into Dollars in the London Interbank market and a Dollar Equivalent
thereof can be calculated.

     “Other Taxes” shall mean any and all present or future stamp or documentary
taxes, assessments or charges made by any Governmental Authority by reason of the execution
and delivery of this Agreement or any Fundamental Document or the issuance of any Letters of
Credit.

     “Participant” shall have the meaning assigned to such term in Section 10.3(g).

     “Participant Register” shall have the meaning assigned to such term in Section
10.3(g).

     “Participating Member State” shall mean a member of the European Communities
that adopts or has adopted the Euro as its currency in accordance with EMU Legislation.

     “PBGC” shall mean the Pension Benefit Guaranty Corporation or any successor
thereto.

     “Permitted Amendments” shall have the meaning assigned to such term in Section
2.29(c).

     “Permitted Encumbrances” shall mean Liens permitted under Section 6.3 hereof.

     “Person” shall mean any natural person, corporation, division of a corporation,
partnership, limited liability company, trust, joint venture, company, estate,
unincorporated organization or government or any agency or political subdivision thereof.

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

     “Platform” shall have the meaning assigned to such term in the last paragraph
of Section 5.1.

     “Pounds” or “£” or “Pound Sterling” shall mean the lawful money
of the United Kingdom.

 

 

     “Prime Rate” shall have the meaning assigned to such term in the definition of
“Alternate Base Rate”.

     “Prior Credit Agreement” shall mean the Credit Agreement dated as of March 26,
2010 among Wyndham Worldwide Corporation, as borrower, JPMorgan Chase Bank, N.A., as
syndication agent, the Bank of Nova Scotia, Deutsche Bank AG New York Branch, The Royal Bank
of Scotland PLC, and Credit Suisse AG, Cayman Islands Branch, as co-documentation agents,
Bank of America, N.A., as administrative agent, and the lenders referred to therein, as in
effect immediately prior to the Closing Date.

     “Pro Forma Basis” shall mean in connection with any transaction for which a
determination on a Pro Forma Basis is required to be made hereunder, that such determination
shall be made (i) after giving effect to any issuance of Indebtedness, any acquisition, any
disposition or any other transaction (as applicable) and (ii) assuming that the issuance of
Indebtedness, acquisition, disposition or other transaction and, if applicable, the
application of any proceeds therefrom, occurred at the beginning of the most recent Rolling
Period ending at least thirty days prior to the date on which such issuance of Indebtedness,
acquisition, disposition or other transaction occurred.

     “Refunded Swingline Loan” shall have the meaning assigned to such term in
Section 2.6(b).

     “Register” shall have the meaning assigned to such term in Section 10.3(e).

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

     “Reorganization” shall mean, with respect to any Multiemployer Plan, the
condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

     “Responsible Officer” shall mean the chief executive officer, president, chief
accounting officer, chief financial officer, treasurer or assistant treasurer of the
Borrower.

     “Required Lenders” shall mean at any time, the holders of more than 50% of the
sum of (i) the Total Revolving Commitments then in effect or, if the Total Revolving
Commitment has been terminated in its entirety, the Revolving Credit Exposure and (ii) the
aggregate unpaid principal amount of the Incremental Term Loans, if any, then outstanding.
The Revolving Commitment and Incremental Term Loans of, and the portion of the Revolving
Credit Exposure attributable to, any Defaulting Lender shall be excluded for purposes of
making a determination of Required Lenders.

     “Revolving Commitment” shall mean with respect to any Lender, the commitment of
such Lender, if any, to make Revolving Credit Loans and participate in Swingline Loans and
Letters of Credit in an aggregate principal and/or face amount not to exceed the amount set
forth (i) under the heading “Revolving Commitment” opposite such Lender’s name on Schedule
2.1 hereto and/or (ii) in any applicable Assignment and Acceptance to which it may be a
party, as the case may be, as such Lender’s Revolving Commitment may be permanently
terminated, reduced or increased from time to time pursuant to Section 2.14 or Section 7.
The Revolving Commitments shall automatically and permanently terminate on the earlier of
(a) the Maturity Date or (b) the date of termination in whole pursuant to Section 2.14 or
Section 7.

 

 

     “Revolving Commitment Increase Lender” shall have the meaning assigned to such
term in Section 2.14(h).

     “Revolving Credit Borrowing” shall mean a Borrowing consisting of simultaneous
Revolving Credit Loans from each of the Revolving Lenders.

     “Revolving Credit Borrowing Request” shall mean a request made pursuant to
Section 2.3 in the form of Exhibit E.

     “Revolving Credit Exposure” shall mean, at any time, the sum of (A) the
aggregate outstanding principal amount of all Revolving Credit Loans made by all Lenders
plus (B) the aggregate Dollar Equivalent outstanding principal amount of all
Competitive Loans made by all Lenders plus (C) the then current L/C Exposure
plus (D) the aggregate outstanding principal amount of all Swingline Loans.

     “Revolving Credit Loans” shall have the meaning given such term in Section
2.1(b). Each Revolving Credit Loan shall be a LIBOR Revolving Credit Loan or an ABR Loan.

     “Revolving Extensions of Credit” shall mean, as to any Revolving Lender at any
time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving
Credit Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of
the Revolving L/C Exposure then outstanding and (c) such Lender’s Revolving Percentage of
the aggregate principal amount of Swingline Loans then outstanding. In addition, any
extension of credit by a Revolving Lender under a New Local Facility shall constitute a
Revolving Extension of Credit by such Lender.

     “Revolving Facility” shall mean the Revolving Commitments and the extensions of
credit thereunder.

     “Revolving L/C Exposure” shall mean, at any time, L/C Exposure attributable to
Letters of Credit.

     “Revolving Lender” shall mean each Lender that has a Revolving Commitment or
that holds Revolving Credit Loans.

     “Revolving Percentage” shall mean, as to any Revolving Lender at any time, the
percentage which such Lender’s Revolving Commitment then constitutes of the Total Revolving
Commitment or, at any time after the Revolving Commitments shall have expired or terminated,
the percentage which the aggregate principal amount of such Lender’s Revolving Extensions of
Credit then outstanding constitutes of the aggregate Revolving Extensions of Credit of all
Revolving Lenders.

     “Rolling Period” shall mean with respect to any fiscal quarter, such fiscal
quarter and the three immediately preceding fiscal quarters considered as a single
accounting period.

     “S&P” shall mean Standard & Poor’s.

     “Securitization Entity” shall mean any Subsidiary or other Person engaged
solely in the business of effecting asset securitization transactions and related
activities.

 

 

     “Securitization Indebtedness” shall mean (i) Indebtedness incurred by a
Securitization Entity that does not permit or provide for recourse for principal and
interest (other than Standard Securitization Undertakings) to the Borrower or any Subsidiary
of the Borrower (other than a Securitization Entity) or any property or asset of the
Borrower or any Subsidiary of the Borrower (other than the property or assets of, or any
equity interests or other securities issued by, a Securitization Entity) and (ii)
Indebtedness incurred by the Borrower or a Material Subsidiary that does not permit or
provide for recourse for principal and interest (other than Standard Securitization
Undertakings) to the Borrower or any Subsidiary of the Borrower except for recourse to the
specific assets securing such Indebtedness.

     “Solvency Certificate” shall mean a Solvency Certificate of the chief financial
officer of the Borrower substantially in the form of Exhibit J.

     “SPC” shall have the meaning assigned to such term in Section 10.3(k).

     “Spin-Off” shall mean the distribution to the shareholders of Cendant of all of
the common stock of the Borrower and the transactions related thereto.

     “Standard Securitization Undertakings” shall mean representations, warranties
(and any related repurchase obligations), servicer obligations, guaranties, repurchase
obligations, covenants and indemnities entered into by the Borrower or any Subsidiary of the
Borrower of a type that are reasonably customary in securitizations.

     “Statutory Reserves” shall mean a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number one minus
the aggregate of the maximum reserve percentages (including any marginal, special, emergency
or supplemental reserves) expressed as a decimal established by the Board and any other
banking authority to which the Administrative Agent or any Lender is subject, for
Eurocurrency Liabilities (as defined in Regulation D). Such reserve percentages shall
include those imposed under Regulation D. LIBOR Loans shall be deemed to constitute
Eurocurrency Liabilities and as such shall be deemed to be subject to such reserve
requirements without benefit of or credit for proration, exceptions or offsets which may be
available from time to time to any Lender under Regulation D. Statutory Reserves shall be
adjusted automatically on and as of the effective date of any change in any reserve
percentage.

     “Subsidiary” shall mean with respect to any Person, any corporation,
association, joint venture, partnership or other business entity (whether now existing or
hereafter organized) of which at least a majority of the voting stock or other ownership
interests having ordinary voting power for the election of directors (or the equivalent) is,
at the time as of which any determination is being made, owned or controlled by such Person
or one or more subsidiaries of such Person or by such Person and one or more subsidiaries of
such Person.

     “Subsidiary Borrower” shall mean any Subsidiary of the Borrower that becomes a
party hereto pursuant to Section 10.9(b)(i) until such time as such Subsidiary Borrower is
removed as a party hereto pursuant to Section 10.9(b)(ii).

     “Subsidiary Borrower Obligations” shall mean the Obligations of any Subsidiary
Borrower.

 

 

     “Swingline Commitment” shall mean the obligation of the Swingline Lender to
make Swingline Loans pursuant to Section 2.5 in an aggregate principal amount at any one
time outstanding not to exceed $100,000,000.

     “Swingline Exposure” shall mean, at any time, the aggregate principal amount of
all Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any
time shall be its Revolving Percentage of the total Swingline Exposure at such time.

     “Swingline Lender” shall mean Bank of America, in its capacity as the lender of
Swingline Loans, or any successor Swingline lender hereunder.

     “Swingline Loans” shall have the meaning given such term in Section 2.5(a).

     “Swingline Participation Amount” shall have the meaning given such term in
Section 2.6(c).

     “Syndication Agent” is defined in the preamble.

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

     “Total Revolving Commitment” shall mean, at any time, the aggregate amount of
the Lenders’ Revolving Commitments as in effect at such time. The initial Total Revolving
Commitment is $1,000,000,000.

     “Treaty” shall mean the Treaty establishing the European Economic Community,
being the Treaty of Rome of March 25, 1957, as amended by the Single European Act 1987, the
Maastricht Treaty (which was signed at Maastricht on February 7, 1992 and came into force on
November 1, 1993), the Amsterdam Treaty (which was signed at Amsterdam on October 2, 1997
and came into force on May 1, 1999) and the Nice Treaty (which was signed on February 26,
2001), each as amended from time to time and as referred to in legislative measures of the
European Union for the introduction of, changeover to or operating of the Euro in one or
more member states.

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

     “WVRAP” shall mean Wyndham Vacation Resorts Asia Pacific Pty. Ltd.

     “WVRAP Facilities” shall mean one or more debt facilities, extensions of
credit, loans, securities issuances, commercial paper facilities or other forms of
Indebtedness providing for revolving credit loans, term loans, receivables financing,
(including through the sale of receivables to such lenders or to special purpose entities
formed to borrow from such lenders against such receivables), notes, letters of credit,
debentures, mortgages or any other form of financing entered into by WVRAP or any of its
Subsidiaries or any successor entity (whether by asset sale, merger or otherwise) to WVRAP
or any of its Subsidiaries, in each case, as amended, restated, modified, renewed, refunded,
replaced (whether upon or after termination or otherwise) or refinanced in whole or in part
from time to time.

          “Yen” and “¥” shall mean the lawful money of Japan.

 

 

	2.	 	THE LOANS

          SECTION 2.1 Revolving Commitments.

          (a) Subject to the terms and conditions hereof and relying upon the representations and
warranties herein set forth, each Revolving Lender agrees, severally and not jointly, to make
revolving credit loans (“Revolving Credit Loans”) in Dollars to the Borrower or any
Domestic Subsidiary Borrower, at any time and from time to time on and after the Closing Date and
until the earlier of the Maturity Date and the termination of the Revolving Commitment of such
Lender, in an aggregate principal amount at any time outstanding not to exceed such Lender’s
Revolving Commitment minus the sum of such Lender’s pro rata share of (i) the then current
Revolving L/C Exposure and (ii) the aggregate principal amount of the Swingline Loans outstanding
at such time plus the amount by which the Competitive Loans outstanding at such time shall be
deemed to have used such Lender’s Revolving Commitment pursuant to Section 2.20 subject, however,
to the conditions that (a) at no time shall (i) the Revolving Credit Exposure exceed (ii) the Total
Revolving Commitment and (b) at all times the outstanding aggregate principal amount of all
Revolving Credit Loans made by each Revolving Lender shall equal the product of (i) the percentage
that its Revolving Commitment represents of the Total Revolving Commitment times (ii) the
outstanding aggregate principal amount of all Revolving Credit Loans made pursuant to a notice
given by the Borrower or any Subsidiary Borrower under Section 2.3. The Revolving Commitments of
the Lenders may be terminated or reduced from time to time pursuant to Section 2.14 or Section 7.

          (b) Within the foregoing limits, the Borrower and any Domestic Subsidiary Borrower may borrow,
pay or repay and reborrow Revolving Credit Loans hereunder, on and after the Closing Date and prior
to the Maturity Date, upon the terms and subject to the conditions and limitations set forth
herein.

          SECTION 2.2. Loans.

          (a) Each Revolving Credit Loan shall be made as part of a Borrowing consisting of Loans made
by the Lenders ratably in accordance with their Revolving Commitments; provided,
however, that the failure of any Lender to make any Revolving Credit Loan shall not in
itself relieve any other Lender of its obligation to lend hereunder (it being understood, however,
that no Lender shall be responsible for the failure of any other Lender to make any Loan required
to be made by such other Lender). Each Competitive Loan shall be made in accordance with the
procedures set forth in Section 2.7. The Loans comprising any Borrowing shall be (i) in the case
of Competitive Loans and LIBOR Loans, in an aggregate principal amount that is an integral multiple
of $1,000,000 and not less than $5,000,000 and (ii) in the case of ABR Loans, in an aggregate
principal amount that is an integral multiple of $500,000 and not less than $5,000,000 (or, in the
case of clause (i) and clause (ii) above with respect to Revolving Credit Loans, if less, an
aggregate principal amount equal to the remaining balance of the available Total Revolving
Commitment). ABR Loans shall be denominated only in Dollars.

          (b) Each Competitive Borrowing shall be comprised entirely of LIBOR Competitive Loans or Fixed
Rate Competitive Loans, and each Revolving Credit Borrowing shall be comprised entirely of LIBOR
Revolving Credit Loans or ABR Loans, as the Borrower or any Subsidiary Borrower may request
pursuant to Section 2.7 or 2.3, as applicable. Each Lender may at its option make any LIBOR Loan
by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan,
provided that any exercise of such option shall not affect the obligation of the Borrower
or such Subsidiary Borrower to repay such Loan in accordance with the terms of this Agreement.
Borrowings of more than one Interest Rate Type may be outstanding at the same time;
provided, however, that neither the Borrower nor any Subsidiary Borrower shall be
entitled to request any Borrowing that, if made, would

 

 

result in an aggregate of more than nine separate Revolving Credit Loans of any Lender being
outstanding hereunder at any one time. For purposes of the calculation required by the immediately
preceding sentence, LIBOR Revolving Credit Loans having different Interest Periods, regardless of
whether they commence on the same date, shall be considered separate Loans and all Loans of a
single Interest Rate Type made on a single date shall be considered a single Loan if such Loans
have a common Interest Period.

          (c) Subject to Section 2.3, each Lender shall make each Loan to be made by it hereunder on the
proposed date thereof by making funds available at the Funding Office no later than 1:00 P.M. New
York City time (2:00 P.M. New York City time, in the case of an ABR Borrowing) in Federal or other
immediately available funds. Upon receipt of the funds to be made available by the Lenders to fund
any Borrowing hereunder, the Administrative Agent shall disburse such funds by depositing them into
an account of the Borrower or the relevant Subsidiary Borrower maintained with the Administrative
Agent. Competitive Loans shall be made by the Lender or Lenders whose Competitive Bids therefor
are accepted pursuant to Section 2.7 in the amounts so accepted and Revolving Credit Loans shall be
made by the Revolving Lenders, respectively pro rata in accordance with Section 2.1 and this
Section 2.2.

          (d) Notwithstanding any other provision of this Agreement, neither the Borrower nor any
Subsidiary Borrower shall be entitled to request any Borrowing if the Interest Period requested
with respect thereto would end after the Maturity Date.

          SECTION 2.3. Revolving Credit Borrowing Procedure.

          In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary
Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form
of Exhibit E (a) in the case of a LIBOR Borrowing, not later than 12:00 Noon, New York City time,
three Business Days before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR
Borrowing, not later than 12:00 Noon, New York City time, on the day of a proposed Revolving Credit
Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving
Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a)
whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR
Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the
amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with
respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is
specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR
Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such
notice, then the Borrower or the relevant Domestic Subsidiary Borrower shall be deemed to have
selected an Interest Period of one month’s duration. If the Borrower or the relevant Domestic
Subsidiary Borrower shall not have given notice in accordance with this Section 2.3 of its election
to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for
such Borrowing, then the Borrower or the relevant Domestic Subsidiary Borrower shall (unless such
Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an
election to refinance such Borrowing with a LIBOR Borrowing of one month’s duration (or at any time
after the occurrence, and during the continuation, of a Default or an Event of Default, an ABR
Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given
pursuant to this Section 2.3 and of each Lender’s portion of the requested Revolving Credit
Borrowing.

          SECTION 2.4. Use of Proceeds.

          The proceeds of the Loans shall be used (i) to refinance the Prior Credit Agreement and to pay
fees and expenses related thereto and (ii) for working capital and general corporate purposes of
the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether
directly or

 

 

indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations U and X of the Board.

          SECTION 2.5. Swingline Commitment.

          (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion
of the credit otherwise available to the Borrower under the Revolving Commitments from time to time
on and after the Closing Date and until the earlier of the Maturity Date and the termination of the
Revolving Commitments by making swing line loans (“Swingline Loans”) in Dollars to the
Borrower; provided that (i) the aggregate principal amount of Swingline Loans outstanding
at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the
Swingline Loans outstanding at any time, when aggregated with the Swingline Lender’s other
outstanding Revolving Credit Loans, may exceed the Swingline Commitment then in effect) and (ii)
the Borrower shall not request, and the Swingline Lender shall not make, any Swingline Loan if,
after giving effect to the making of such Swingline Loan, the Revolving Credit Exposure exceeds the
Total Revolving Commitment. On and after the Closing Date and until the earlier of the Maturity
Date and the termination of the Revolving Commitments, the Borrower may use the Swingline
Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions
hereof. Swingline Loans shall be ABR Loans only.

          (b) The Borrower shall repay to the Swingline Lender the then unpaid principal amount of each
Swingline Loan on the earlier of the Maturity Date and the first date after such Swingline Loan is
made that is the 15th or last day of a calendar month and is at least two Business Days after such
Swingline Loan is made; provided that on each date that a Revolving Credit Loan is
borrowed, the Borrower shall repay all Swingline Loans then outstanding.

          (c) The Swingline Lender shall not be required to make any Swingline Loan if any Lender is a
Defaulting Lender unless (i) the Swingline Lender has entered into arrangements, including the
delivery of Cash Collateral, satisfactory to the Swingline Lender (in its sole discretion) with the
Borrower or such Lender to eliminate the Swingline Lender’s actual or potential Fronting Exposure
(after giving effect to Section 2.31(a)(iv)) with respect to the Defaulting Lender arising from
either the Swingline Loan then proposed to be made or that Swingline Loan and all other Swingline
Loans as to which the Swingline Lender has Fronting Exposure, as it may elect in its sole
discretion or (ii) the Fronting Exposure resulting from such Defaulting Lender has been reallocated
pursuant to Section 2.31(a)(iv).

          SECTION 2.6. Procedure for Swingline Borrowing; Refunding of Swingline Loans.

          (a) Whenever the Borrower desires that the Swingline Lender make Swingline Loans it shall give
the Swingline Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic
notice must be received by the Swingline Lender not later than 2:00 P.M., New York City time, on
the day of the proposed Borrowing), specifying (i) the amount to be borrowed and (ii) the date of
such notice which shall be the requested borrowing date (which shall be a Business Day). Each
borrowing under the Swingline Commitment shall be in an amount equal to $500,000 or a whole
multiple of $100,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the date
of the Borrowing specified in a notice in respect of Swingline Loans, the Swingline Lender shall
make available to the Administrative Agent at the Funding Office an amount in immediately available
funds equal to the amount of the Swingline Loan to be made by the Swingline Lender. The
Administrative Agent shall make the proceeds of such Swingline Loan available to the Borrower on
such borrowing date by depositing such proceeds in the account of the Borrower with the
Administrative Agent or such other account as the Borrower may specify to the Administrative Agent
in writing on such borrowing date in

 

 

immediately available funds; provided, however, the proceeds of any Swingline
Loans may not be used to repay any other Loans.

          (b) The Swingline Lender, at any time and from time to time in its sole and absolute
discretion may, on behalf of the Borrower (which hereby irrevocably directs the Swingline Lender to
act on its behalf), on one Business Day’s notice given by the Swingline Lender no later than 12:00
Noon, New York City time, request each Revolving Lender to make, and each Revolving Lender hereby
agrees to make, a Revolving Credit Loan, in an amount equal to such Revolving Lender’s Revolving
Percentage of the aggregate amount of the Swingline Loans (the “Refunded Swingline Loans”)
outstanding on the date of such notice, to repay the Swingline Lender. Each Revolving Lender shall
make the amount of such Revolving Credit Loan available to the Administrative Agent at the Funding
Office in immediately available funds, not later than 10:00 A.M., New York City time, one Business
Day after the date of such notice. The proceeds of such Revolving Credit Loans shall be
immediately made available by the Administrative Agent to the Swingline Lender for application by
the Swingline Lender to the repayment of the Refunded Swingline Loans. The Borrower irrevocably
authorizes the Swingline Lender to charge the Borrower’s accounts with the Administrative Agent (up
to the amount available in each such account) in order to immediately pay the amount of such
Refunded Swingline Loans to the extent amounts received from the Revolving Lenders are not
sufficient to repay in full such Refunded Swingline Loans.

          (c) If prior to the time a Revolving Credit Loan would have otherwise been made pursuant to
Section 2.6(b), one of the events described in Section 7(f) or (g) shall have occurred and be
continuing with respect to the Borrower or if for any other reason, as determined by the Swingline
Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section
2.6(b), each Revolving Lender shall, on the date such Revolving Credit Loan was to have been made
pursuant to the notice referred to in Section 2.6(b), purchase for cash an undivided participating
interest in the then outstanding Swingline Loans by paying to the Swingline Lender an amount (the
“Swingline Participation Amount”) equal to (i) such Revolving Lender’s Revolving Percentage
times (ii) the sum of the aggregate principal amount of Swingline Loans then outstanding
that were to have been repaid with such Revolving Credit Loans.

          (d) Whenever, at any time after the Swingline Lender has received from any Revolving Lender
such Lender’s Swingline Participation Amount, the Swingline Lender receives any payment on account
of the Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline
Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s participating interest was outstanding and funded and, in
the case of principal and interest payments, to reflect such Lender’s pro rata
portion of such payment if such payment is not sufficient to pay the principal of and interest on
all Swingline Loans then due); provided, however, that in the event that such
payment received by the Swingline Lender is required to be returned, such Revolving Lender will
return to the Swingline Lender any portion thereof previously distributed to it by the Swingline
Lender.

          (e) Each Revolving Lender’s obligation to make the Loans referred to in Section 2.6(b) and to
purchase participating interests pursuant to Section 2.6(c) shall be absolute and unconditional and
shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment,
defense or other right that such Revolving Lender or the Borrower may have against the Swingline
Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence or
continuance of a Default or an Event of Default or the failure to satisfy any of the other
conditions specified in Section 4, (iii) any adverse change in the condition (financial or
otherwise) of the Borrower, (iv) any breach of this Agreement or any other Fundamental Document by
the Borrower, any other Loan Party or any other Revolving Lender or (v) any other circumstance,
happening or event whatsoever, whether or not similar to any of the foregoing.

 

 

          SECTION 2.7. Competitive Bid Procedure — Competitive Loans.

          (a) In order to request Competitive Bids for Competitive Loans, the Borrower or any Subsidiary
Borrower shall hand deliver or telecopy to the Administrative Agent a duly completed Competitive
Bid Request in the form of Exhibit D-1, to be received by the Administrative Agent (i) in the case
of a LIBOR Competitive Loan, not later than 10:00 A.M., New York City time, four Business Days
before a proposed Competitive Borrowing, (ii) in the case of a Local Fixed Rate Competitive Loan,
not later than 10:00 A.M., New York City time, four Business Days before a proposed Competitive
Borrowing and (iii) in the case of a Domestic Fixed Rate Competitive Loan, not later than 10:00
A.M., New York City time, four Business Days before a proposed Competitive Borrowing. No ABR Loan
shall be requested in, or made pursuant to, a Competitive Bid Request. A Competitive Bid Request
that does not conform substantially to the format of Exhibit D-1 may be rejected in the
Administrative Agent’s sole discretion, and the Administrative Agent shall promptly notify the
Borrower or the relevant Subsidiary Borrower of such rejection by telecopier. Such request for
Competitive Bids shall in each case refer to this Agreement and specify (i) whether the Borrowing
then being requested is to be a LIBOR Borrowing or a Fixed Rate Borrowing, (ii) the date of such
Borrowing (which shall be a Business Day) and the aggregate principal amount thereof, which shall
be in a minimum principal amount of $10,000,000 (or the Dollar Equivalent thereof) and in an
integral multiple of $5,000,000 (or the Dollar Equivalent thereof) (or if less, an aggregate
principal amount equal to the remaining balance of the available Total Revolving Commitment), (iii)
the Interest Period with respect thereto (which may not end after the Maturity Date), (iv) the
Currency with respect thereto and (v) if such requested Borrowing is to consist of Local
Competitive Loans, the jurisdiction in which such requested Borrowing is to be made. Promptly
after its receipt of a Competitive Bid Request that is not rejected as aforesaid, the
Administrative Agent shall invite by telecopier (in the form set forth in Exhibit D-2) the
Revolving Lenders to bid, on the terms and subject to the conditions of this Agreement, to make
Competitive Loans pursuant to the Competitive Bid Request.

          (b) Each Revolving Lender may, in its sole discretion, make one or more Competitive Bids for
Competitive Loans to the Borrower or any Subsidiary Borrower responsive to a Competitive Bid
Request. Each Competitive Bid for a Competitive Loan by a Revolving Lender must be received by the
Administrative Agent via telecopier, in the form of Exhibit D-3, (i) in the case of a LIBOR
Competitive Loan, not later than 9:30 A.M., New York City time, three Business Days before a
proposed Competitive Borrowing, (ii) in the case of a Local Fixed Rate Competitive Loan, not later
than 9:30 A.M., New York City time, three Business Days before a proposed Competitive Borrowing,
(iii) in the case of a Domestic Fixed Rate Competitive Loan, not later than 9:30 A.M., New York
City time, three Business Days before a proposed Competitive Borrowing. Multiple bids will be
accepted by the Administrative Agent. Competitive Bids for Competitive Loans that do not conform
substantially to the format of Exhibit D-3 may be rejected by the Administrative Agent after
conferring with, and upon the instruction of, the Borrower or the relevant Subsidiary Borrower, and
the Administrative Agent shall notify the Lender making such nonconforming bid of such rejection as
soon as practicable. Each Competitive Bid for a Competitive Loan shall refer to this Agreement and
specify (i) the principal amount (which shall be in a minimum principal amount of $10,000,000 (or
the Dollar Equivalent thereof) and in an integral multiple of $5,000,000 (or the Dollar Equivalent
thereof) and which may equal the entire principal amount of the Competitive Borrowing requested by
the Borrower or the relevant Subsidiary Borrower) of the Competitive Loan or Loans that the Lender
is willing to make to the Borrower or the relevant Subsidiary Borrower, (ii) the Competitive Bid
Rate or Rates at which the Lender is prepared to make the Competitive Loan or Loans, (iii) the
Interest Period or Interest Periods with respect thereto and (iv) in the case of a Local
Competitive Loan, the location of and contact information for the lending office. If any Revolving
Lender shall elect not to make a Competitive Bid, such Lender shall so notify the Administrative
Agent via telecopier (i) in the case of LIBOR Competitive Loans, not later than 9:30 A.M., New York
City time, three Business Days before a proposed Competitive Borrowing, (ii) in the case of Local
Fixed Rate

 

 

Competitive Loans, not later than 9:30 A.M., New York City time, three Business Days before
the proposed Competitive Borrowing and (iii) in the case of Domestic Fixed Rate Competitive Loans,
not later than 9:30 A.M., New York City time, three Business Days before a proposed Competitive
Borrowing; provided, however, that failure by any Revolving Lender to give such
notice shall not cause such Lender to be obligated to make any Competitive Loan as part of such
proposed Competitive Borrowing. A Competitive Bid for a Competitive Loan submitted by a Lender
pursuant to this paragraph (b) shall be irrevocable.

          (c) The Administrative Agent shall promptly notify the Borrower or the relevant Subsidiary
Borrower by telecopier of all the Competitive Bids made, the Competitive Bid Rate or Rates and the
principal amount of each Competitive Loan in respect of which a Competitive Bid was made and the
identity of the Lender that made each bid. The Administrative Agent shall send a copy of all
Competitive Bids to the Borrower or the relevant Subsidiary Borrower for its records as soon as
practicable after completion of the bidding process set forth in this Section 2.7.

          (d) The Borrower or the relevant Subsidiary Borrower may in its sole and absolute discretion,
subject only to the provisions of this paragraph (d), accept or reject any Competitive Bid referred
to in paragraph (c) above. The Borrower or the relevant Subsidiary Borrower shall notify the
Administrative Agent by telephone, promptly confirmed by telecopier in the form of a Competitive
Bid Accept/Reject Letter whether and to what extent it has decided to accept or reject any or all
of the bids referred to in paragraph (c) above, (i) in the case of a LIBOR Competitive Loan, not
later than 10:30 A.M., New York City time, three Business Days before a proposed Competitive
Borrowing, (ii) in the case of a Local Fixed Rate Borrowing, not later than 10:30 A.M., New York
City time, three Business Days before a proposed Competitive Borrowing and (iii) in the case of a
Domestic Fixed Rate Borrowing, not later than 10:30 A.M., New York City time, three Business Days
before a proposed Competitive Borrowing; provided, however, that (A) the failure by
the Borrower or the relevant Subsidiary Borrower to give such notice shall be deemed to be a
rejection of all the bids referred to in paragraph (c) above, (B) the Borrower or the relevant
Subsidiary Borrower shall not accept a bid made at a particular Competitive Bid Rate if the
Borrower or the relevant Subsidiary Borrower has decided to reject a bid made at a lower
Competitive Bid Rate, (C) the aggregate amount of the Competitive Bids accepted by the Borrower or
the relevant Subsidiary Borrower shall not exceed the principal amount specified in the Competitive
Bid Request, (D) if the Borrower or the relevant Subsidiary Borrower shall accept a bid or bids
made at a particular Competitive Bid Rate but the amount of such bid or bids shall cause the total
amount of bids to be accepted by the Borrower or the relevant Subsidiary Borrower to exceed the
amount specified in the Competitive Bid Request, then the Borrower or such Subsidiary Borrower
shall accept a portion of such bid or bids in an amount equal to the amount specified in the
Competitive Bid Request less the amount of all other Competitive Bids accepted at lower Competitive
Bid Rates with respect to such Competitive Bid Request (it being understood that acceptance in the
case of multiple bids at such Competitive Bid Rate, shall be made pro rata in accordance with the
amount of each such bid at such Competitive Bid Rate) and (E) except pursuant to clause (D) above,
no bid shall be accepted for a Competitive Loan unless such Competitive Loan is in a minimum
principal amount of $10,000,000 (or the Dollar Equivalent thereof) and an integral multiple of
$5,000,000 (or the Dollar Equivalent thereof) (or if less, an aggregate principal amount equal to
the remaining balance of the available Total Revolving Commitment); provided
further, however, that if a Competitive Loan must be in an amount less than
$10,000,000 because of the provisions of clause (D) above, such Competitive Loan shall be in a
minimum principal amount of $1,000,000 (or the Dollar Equivalent thereof) or any integral multiple
thereof, and in calculating the pro rata allocation of acceptances of portions of multiple bids at
a particular Competitive Bid Rate pursuant to clause (D), the amounts shall be rounded to integral
multiples of $1,000,000 (or the Dollar Equivalent thereof) in a manner that shall be in the
discretion of the Borrower or the relevant Subsidiary Borrower. A notice given by the Borrower or
the relevant Subsidiary Borrower pursuant to this paragraph (d) shall be irrevocable.

 

 

          (e) The Administrative Agent shall promptly notify each bidding Lender whether its Competitive
Bid has been accepted (and if so, in what amount and at what Competitive Bid Rate) by telecopy sent
by the Administrative Agent, and each successful bidder will thereupon become bound, subject to the
other applicable conditions hereof, to make the Competitive Loan in respect of which its bid has
been accepted. If the Borrower accepts one or more offers made by any Lender or Lenders, each such
Lender shall, no later than 10:30 AM, New York City time, on the applicable day of each proposed
Competitive Borrowing, make funds under its applicable Competitive Loan available to the Borrower
in full. Upon repayment by the Borrower of any Competitive Loans, all payments shall be made
directly to each respective Lender.

          (f) No Competitive Bid Request shall be made within ten Business Days (or upon reasonable
notice to the Lenders, such other number of days as Borrower and Administrative Agent may agree) of
any other Competitive Bid Request. The Borrower and the Subsidiary Borrowers shall not be entitled
to have more than four Competitive Bid Loans outstanding at any time.

          (g) If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a
Revolving Lender, it shall submit such bid directly to the Borrower or the relevant Subsidiary
Borrower one quarter of an hour earlier than the latest time at which the other Revolving Lenders
are required to submit their bids to the Administrative Agent pursuant to paragraph (b) above.

          (h) The Borrower shall pay a non-refundable competitive loan fee in an amount equal to $2,500
for each request by the Borrower or a Subsidiary Borrower for a Competitive Loan, regardless of
whether such Competitive Loan is borrowed, such fees to be payable on the date of such request.

          (i) All notices required by this Section 2.7 shall be given in accordance with Section 10.1.

          SECTION 2.8. Refinancings.

          The Borrower or any Subsidiary Borrower may refinance all or any part of any Borrowing with a
Borrowing of the same Currency and of the same Interest Rate Type (or of the same or different
Interest Rate Type, in the case of Loans denominated in Dollars) made pursuant to Section 2.7 or
pursuant to a notice under Section 2.3, as applicable, subject to the conditions and limitations
set forth herein and elsewhere in this Agreement, including refinancings of Competitive Borrowings
with Revolving Credit Borrowings and Revolving Credit Borrowings with Competitive Borrowings;
provided, however, that at any time after the occurrence, and during the
continuation, of a Default or an Event of Default, a Borrowing (other than a Competitive Borrowing)
or portion thereof may only be refinanced with an ABR Borrowing. Any Borrowing or part thereof so
refinanced shall be deemed to be repaid in accordance with Section 2.10 with the proceeds of a new
Borrowing hereunder and the proceeds of the new Borrowing, to the extent they do not exceed the
principal amount of the Borrowing being refinanced, shall not be paid by the Lenders to the
Administrative Agent or by the Administrative Agent to the Borrower or the relevant Subsidiary
Borrower pursuant to Section 2.2(c); provided, however, that (a) if the principal
amount extended by a Lender in a refinancing is greater than the principal amount extended by such
Lender in the Borrowing being refinanced, then such Lender shall pay such difference to the
Administrative Agent for distribution to the Borrower or the relevant Subsidiary Borrower or any
Lenders described in clause (b) below, as applicable, (b) if the principal amount extended by a
Lender in the Borrowing being refinanced is greater than the principal amount being extended by
such Lender in the refinancing, the Administrative Agent shall return the difference to such Lender
out of amounts received pursuant to clause (a) above, (c) to the extent any Lender fails to pay the
Administrative Agent amounts due from it pursuant to clause (a) above, any Loan or portion thereof
being refinanced with such amounts shall not be deemed repaid in accordance with this Section 2.8
and, to the extent of such failure, the

 

 

Borrower or the relevant Subsidiary Borrower shall pay such amount to the Administrative Agent
as required by Section 2.12, and (d) to the extent the Borrower or the relevant Subsidiary Borrower
fails to pay to the Administrative Agent any amounts due in accordance with Section 2.12 as a
result of the failure of a Lender to pay the Administrative Agent any amounts due as described in
clause (c) above, the portion of any refinanced Loan deemed not repaid shall be deemed to be
outstanding solely to the Lender which has failed to pay the Administrative Agent amounts due from
it pursuant to clause (a) above to the full extent of such Lender’s portion of such Loan.

          SECTION 2.9. Fees.

          (a) The Borrower agrees to pay to each Revolving Lender, through the Administrative Agent, on
the 15th day (or, on the next Business Day, if the 15th day is not a Business Day) of the calendar
month immediately following the end of each fiscal quarter, commencing with the fiscal quarter
ending September 30, 2011, and on the date on which the Revolving Commitment of such Lender shall
be terminated as provided herein, a facility fee (a “Facility Fee”), at the rate per annum
from time to time in effect in accordance with Section 2.24, on the average daily amount of the
Revolving Commitment of such Lender, whether used or unused, during the preceding quarter (or
shorter period commencing with the Closing Date, or ending with (i) the Maturity Date or (ii) any
date on which the Revolving Commitment of such Lender shall be terminated). All Facility Fees
shall be computed on the basis of the actual number of days elapsed in a year of 360 days. The
Facility Fee due to each Revolving Lender shall commence to accrue on the Closing Date, shall be
payable in arrears and shall cease to accrue on the earlier of the Maturity Date and the
termination of the Revolving Commitment of such Lender as provided herein.

          (b) The Borrower agrees to pay the Administrative Agent the fees in the amounts and on the
dates as set forth in any written and executed fee agreements with the Administrative Agent.

          (c) All fees shall be paid on the dates due, in immediately available funds, to the
Administrative Agent for distribution, if and as appropriate, among the Lenders. Once paid, none
of the fees shall be refundable under any circumstances.

          SECTION 2.10. Repayment of Loans; Evidence of Debt.

          (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for
the account of each Revolving Lender the then unpaid principal amount of each Revolving Credit Loan
of such Lender made to the Borrower on the Maturity Date for such Loans and (ii) to the Swingline
Lender the then unpaid principal amount of each Swingline Loan in accordance with Section 2.5(b),
or in each case, on such earlier date on which the Loans become due and payable pursuant to Section
7. The Borrower hereby further agrees to pay interest on the unpaid principal amount of the Loans
made to the Borrower from time to time outstanding from the Closing Date until payment in full
thereof at the rates per annum, and on the dates, set forth in Section 2.11. Each Subsidiary
Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each
Lender the then unpaid principal amount of each Revolving Credit Loan of such Lender made to such
Subsidiary Borrower on the Maturity Date or on such earlier date on which the Loans become due and
payable pursuant to Section 7. Each Subsidiary Borrower hereby further agrees to pay interest on
the unpaid principal amount of the Loans made to such Subsidiary Borrower from time to time
outstanding from the Closing Date until payment in full thereof at the rates per annum, and on the
dates, set forth in Section 2.11.

          (b) The Borrower unconditionally promises to pay to the Administrative Agent, for the account
of each Lender that makes a Competitive Loan to the Borrower, on the last day of the Interest
Period applicable to such Competitive Loan, the principal amount of such Competitive Loan. The

 

 

Borrower further unconditionally promises to pay interest on each such Competitive Loan for
the period from and including the date of Borrowing of such Competitive Loan on the unpaid
principal amount thereof from time to time outstanding at the applicable rate per annum determined
as provided in, and payable as specified in, Section 2.11. Each Subsidiary Borrower
unconditionally promises to pay to the Administrative Agent, for the account of each Lender that
makes a Competitive Loan to such Subsidiary Borrower, on the last day of the Interest Period
applicable to such Competitive Loan, the principal amount of such Competitive Loan made to such
Subsidiary Borrower. Each Subsidiary Borrower further unconditionally promises to pay interest on
each such Competitive Loan made to such Subsidiary Borrower for the period from and including the
date of Borrowing of such Competitive Loan on the unpaid principal amount thereof from time to time
outstanding at the applicable rate per annum determined as provided in, and payable as specified
in, Section 2.11.

          (c) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing indebtedness of the Borrower and any Subsidiary Borrower to such Lender resulting from
each Loan of such Lender from time to time, including the amounts of principal and interest payable
and paid to such Lender from time to time under this Agreement.

          (d) The Administrative Agent shall maintain the Register pursuant to Section 10.3(e), and a
subaccount therein for each Lender, in which shall be recorded (i) the amount of each Loan made
hereunder, the Interest Rate Type thereof and each Interest Period applicable thereto, (ii) the
amount of any principal or interest due and payable or to become due and payable from the Borrower
and any Subsidiary Borrower to each Lender hereunder and (iii) both the amount of any sum received
by the Administrative Agent hereunder from the Borrower or any Subsidiary Borrower and each
Lender’s share thereof.

          (e) The entries made in the Register and the accounts of each Lender maintained pursuant to
this Section 2.10 shall, to the extent permitted by applicable law, be prima facie
evidence of the existence and amounts of the obligations of the Borrower and any Subsidiary
Borrower therein recorded; provided, however, that the failure of any Lender or the
Administrative Agent to maintain the Register or any such account, or any error therein, shall not
in any manner affect the obligation of the Borrower or any Subsidiary Borrower to repay (with
applicable interest) the Loans made to the Borrower or the relevant Subsidiary Borrower by such
Lender in accordance with the terms of this Agreement.

          SECTION 2.11. Interest on Loans.

          (a) Subject to the provisions of Section 2.12, the Loans comprising each LIBOR Borrowing shall
bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days)
at a rate per annum equal to (i) in the case of each LIBOR Revolving Credit Loan, LIBOR for the
Interest Period in effect for such Borrowing plus the applicable LIBOR Spread from time to time in
effect and (ii) in the case of each LIBOR Competitive Loan, LIBOR for the Interest Period in effect
for such Borrowing plus the Margin offered by the Lender making such Loan and accepted by the
Borrower or the relevant Subsidiary Borrower pursuant to Section 2.7. Interest on each LIBOR
Borrowing shall be payable on each applicable Interest Payment Date.

          (b) Subject to the provisions of Section 2.12, the Loans comprising each ABR Borrowing shall
bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or
366 days, as the case may be) at a rate per annum equal to the Alternate Base Rate plus the
applicable margin, if any, for ABR Loans from time to time in effect pursuant to Section 2.24.

          (c) Subject to the provisions of Section 2.12, each Fixed Rate Competitive Loan shall bear
interest at a rate per annum (computed on the basis of the actual number of days elapsed over a
year

 

 

of 360 days) equal to the fixed rate of interest offered by the Lender making such Loan and
accepted by the Borrower or the relevant Subsidiary Borrower pursuant to Section 2.7.

          (d) Interest on each Loan shall be payable in arrears on each Interest Payment Date applicable
to such Loan. The LIBOR or the Alternate Base Rate for each Interest Period or day within an
Interest Period shall be determined by the Administrative Agent, and such determination shall be
conclusive absent manifest error.

          SECTION 2.12. Interest on Overdue Amounts.

          If the Borrower or any Subsidiary Borrower shall default in the payment of the principal of,
or interest on, any Loan or any other amount becoming due hereunder, the Borrower or such
Subsidiary Borrower shall, at the request of the Required Lenders, from time to time pay interest,
to the extent permitted by Applicable Law, on such defaulted amount up to (but not including) the
date of actual payment (after as well as before a judgment) at a rate equal to (a) in the case of
the remainder of the then current Interest Period for any LIBOR Loan or Fixed Rate Competitive
Loan, the rate applicable to such Loan under Section 2.11 plus 2% per annum and (b) in the case of
any other Loan or amount, the rate that would at the time be applicable to an ABR Loan under
Section 2.11 plus 2% per annum.

          SECTION 2.13. Alternate Rate of Interest.

          In the event, and on each occasion, that on the day two Business Days prior to the
commencement of any Interest Period for a LIBOR Loan, the Administrative Agent shall have
determined that Dollar deposits or deposits in the applicable Optional Currency in the amount of
the requested principal amount of such LIBOR Loan are not generally available in the London
Interbank market, or that the rate at which such Dollar deposits or deposits in the applicable
Optional Currency are being offered will not adequately and fairly reflect the cost to any Lender
of making or maintaining its portion of such LIBOR Loans during such Interest Period, or that
reasonable means do not exist for ascertaining LIBOR, the Administrative Agent shall, as soon as
practicable thereafter, give written or telecopier notice of such determination to the Borrower or
the relevant Subsidiary Borrower and the Lenders. In the event of any such determination, until
the Administrative Agent shall have determined that circumstances giving rise to such notice no
longer exist, (a) any request by the Borrower or any Subsidiary Borrower for a LIBOR Competitive
Loan pursuant to Section 2.7 shall be of no force and effect and shall be denied by the
Administrative Agent and (b) any request by the Borrower or any Domestic Subsidiary Borrower for a
LIBOR Borrowing pursuant to Section 2.3 shall be deemed to be a request for an ABR Loan. Each
determination by the Administrative Agent hereunder shall be conclusive absent manifest error.

          SECTION 2.14. Termination, Reduction and Increase of Revolving Commitments.

          (a) The Revolving Commitments of all of the Revolving Lenders shall be automatically
terminated on the Maturity Date.

          (b) Subject to Section 2.15(b), upon at least one Business Day of prior written or telecopy
notice to the Administrative Agent (which notice shall have been received not later than 12:00
Noon, New York City time), the Borrower may at any time in whole permanently terminate, or from
time to time in part permanently reduce, the Total Revolving Commitment; provided,
however, that (i) each partial reduction of the Total Revolving Commitment shall be in an
integral multiple of $1,000,000 and in a minimum principal amount of $5,000,000 and (ii) the
Borrower shall not be entitled to make any such termination or reduction that would reduce the
Total Revolving Commitment to an amount less than the sum of the aggregate outstanding principal
amount of the Revolving Credit Loans plus the aggregate

 

 

outstanding principal amount of the Swingline Loans plus the then current L/C Exposure. Each
notice delivered by the Borrower pursuant to this Section 2.14(b) shall be irrevocable;
provided that a notice of termination of the Revolving Commitments delivered by the
Borrower may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case, such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied.

          (c) Except as otherwise set forth herein, each reduction in the Total Revolving Commitment
hereunder shall be made ratably among the Lenders in accordance with their respective Revolving
Commitments. The Borrower shall pay to the Administrative Agent for the account of the Revolving
Lenders on the date of each termination or reduction in the Total Revolving Commitment, the
Facility Fees on the amount of the Total Revolving Commitment so terminated or reduced accrued to
the date of such termination or reduction.

          (d) If the Total Revolving Commitment, plus the aggregate outstanding principal amount of
Incremental Term Loans, if any, is less than $1,500,000,000 at any time and the Borrower wishes to
increase the aggregate Revolving Commitments at such time, and no Default or Event of Default has
occurred and is then continuing, the Borrower shall notify the Administrative Agent in writing of
the amount (the “Offered Increase Amount”) of such proposed increase (such notice, a
“Commitment Increase Notice”), and the Administrative Agent shall notify each Revolving
Lender of such proposed increase and provide such additional information regarding such proposed
increase as any Revolving Lender may reasonably request. The Borrower may, at its election, (i)
offer one or more of the Revolving Lenders the opportunity to participate in all or a portion of
the Offered Increase Amount pursuant to paragraph (f) below and/or (ii) offer one or more
additional banks, financial institutions or other entities the opportunity to participate in all or
a portion of the Offered Increase Amount pursuant to paragraph (e) below; provided, that
any Revolving Lender or bank, financial institution or other entity that is offered the opportunity
to participate in all or any portion of the Offered Increase Amount shall be consented to in
writing by the Administrative Agent to extent the Administrative Agent would have a right under
this Agreement to consent to an assignment of all or any portion of any Revolving Lender’s
Revolving Commitment or Revolving Credit Loans to such Revolving Lender or bank, financial
institution or other entity. Each Commitment Increase Notice shall specify which Lenders and/or
banks, financial institutions or other entities the Borrower desires to participate in such Total
Revolving Commitment increase. The Borrower or, if requested by the Borrower, the Administrative
Agent, will notify such Lenders and/or banks, financial institutions or other entities of such
offer.

          (e) Any Eligible Assignee which the Borrower selects to offer participation in the increased
Revolving Commitments and which elects to become a party to this Agreement and provide a Revolving
Commitment in an amount so offered and accepted by it pursuant to Section 2.14(d)(ii) shall execute
a New Revolving Lender Supplement with the Borrower and the Administrative Agent, substantially in
the form of Exhibit G-1, whereupon such bank, financial institution or other Person (herein called
a “New Lender”) shall become a Lender for all purposes and to the same extent as if
originally a party hereto and shall be bound by and entitled to the benefits of this Agreement, and
Schedule 2.1 shall be deemed to be amended to add the name and Revolving Commitment of such New
Lender; provided that the Revolving Commitment of any such new Lender shall be in an amount
not less than $5,000,000.

          (f) Any Revolving Lender which accepts an offer to it by the Borrower to increase its
Revolving Commitment pursuant to Section 2.14(d)(i) shall, in each case, execute a Commitment
Increase Supplement with the Borrower and the Administrative Agent, substantially in the form of
Exhibit H, whereupon such Revolving Lender shall be bound by and entitled to the benefits of this

 

 

Agreement with respect to the full amount of its Revolving Commitment as so increased, and
Schedule 2.1 shall be deemed to be amended to so increase the Revolving Commitment of such
Revolving Lender.

          (g) Notwithstanding anything to the contrary in this Section 2.14, (i) in no event shall any
transaction effected pursuant to this Section 2.14 cause the sum of (x) the Total Revolving
Commitment and (y) the aggregate outstanding principal amount of the Incremental Term Loans, if
any, to exceed $1,500,000,000 and (ii) no Revolving Lender shall have any obligation to increase
its Revolving Commitment unless it agrees to do so in its sole discretion.

          (h) Upon each increase in the Revolving Credit Commitments pursuant to Section 2.14 (d), each
Revolving Lender immediately prior to such increase will automatically and without further act be
deemed to have assigned to each Lender providing a portion of the increase in the aggregate
Revolving Commitments (each, a “Revolving Commitment Increase Lender”), and each such
Revolving Commitment Increase Lender will automatically and without further act be deemed to have
assumed, a portion of such Revolving Lender’s participations hereunder in outstanding Letters of
Credit and Swingline Loans such that, after giving effect to each such deemed assignment and
assumption of participations, the percentage of the aggregate outstanding (i) participations
hereunder in Letters of Credit and (ii) participations hereunder in Swingline Loans held by each
Revolving Lender (including each such Revolving Commitment Increase Lender) will equal the
percentage of the aggregate Revolving Credit Commitments of all Revolving Lenders represented by
such Revolving Lender’s Revolving Credit Commitment and (b) if, on the date of such increase, there
are any Revolving Credit Loans outstanding, such Revolving Credit Loans shall on or prior to the
effectiveness of such increase in the aggregate Revolving Commitments be prepaid from the proceeds
of additional Revolving Credit Loans made hereunder (reflecting such increase in Revolving Credit
Commitments), which prepayment shall be accompanied by accrued interest on the Revolving Credit
Loans being prepaid and any costs incurred by any Lender in accordance with Section 2.17(g). The
Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing
and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the
transactions effected pursuant to the immediately preceding sentence.

          SECTION 2.15. Prepayment of Loans.

          (a) Prior to the Maturity Date, the Borrower and any Subsidiary Borrower shall have the right
at any time to prepay any Borrowing (other than a Competitive Borrowing), in whole or in part,
subject to the requirements of Section 2.19 but otherwise without premium or penalty, upon prior
written or telecopy notice to the Administrative Agent before 12:00 Noon, New York City, time at
least one Business Day before such prepayment in the case of an ABR Loan and at least three
Business Days before such prepayment in the case of a LIBOR Loan; provided,
however, that each such partial prepayment shall be in an integral multiple of $1,000,000
and in a minimum aggregate principal amount of $5,000,000. Neither the Borrower nor any Subsidiary
Borrower shall have the right to prepay any Competitive Borrowing without the consent of the
relevant Lender.

          (b) On any date when the sum of the Revolving Credit Exposure (after giving effect to any
Borrowings effected on such date) exceeds the Total Revolving Commitment, the Borrower shall make a
mandatory prepayment of the Revolving Credit Loans (or cause any Subsidiary Borrower to make such a
prepayment) in such amount as may be necessary so that the Revolving Credit Exposure after giving
effect to such prepayment does not exceed the Total Revolving Commitment then in effect. Any
prepayments required by this paragraph shall be applied to outstanding ABR Loans up to the full
amount thereof before they are applied to outstanding LIBOR Revolving Credit Loans.

 

 

          (c) Each notice of prepayment pursuant to Section 2.15(a) shall specify the specific
Borrowing(s), the prepayment date and the aggregate principal amount of each Borrowing to be
prepaid, shall be irrevocable and shall commit the Borrower or the relevant Subsidiary Borrower to
prepay such Borrowing(s) by the amount stated therein. All prepayments under this Section 2.15
shall be accompanied by accrued interest on the principal amount being prepaid, to the date of
prepayment.

          SECTION 2.16. Eurocurrency Reserve Costs.

          The Borrower and any Subsidiary Borrower shall pay to the Administrative Agent for the account
of each Lender, so long as such Lender shall be required under regulations of the Board to maintain
reserves with respect to liabilities or assets consisting of, or including, Eurocurrency
Liabilities (as defined in Regulation D of the Board), additional interest on the unpaid principal
amount of each LIBOR Loan made to the Borrower or such Subsidiary Borrower by such Lender, from the
date of such Loan until such Loan is paid in full, at an interest rate per annum equal at all times
during the Interest Period for such Loan to the remainder obtained by subtracting (i) LIBOR for
such Interest Period from (ii) the rate obtained by multiplying LIBOR as referred to in clause (i)
above by the Statutory Reserves of such Lender for such Interest Period. Such additional interest
shall be determined by such Lender and notified to the Borrower or the relevant Subsidiary Borrower
(with a copy to the Administrative Agent) not later than five Business Days before the next
Interest Payment Date for such Loan, and such additional interest so notified to the Borrower or
the relevant Subsidiary Borrower by any Lender shall be payable to the Administrative Agent for the
account of such Lender on each Interest Payment Date for such Loan.

          SECTION 2.17. Reserve Requirements; Change in Circumstances.

          (a) Except with respect to Indemnified Taxes and Other Taxes, which shall be governed solely
and exclusively by Section 2.23, if (i) after the Closing Date any change in Applicable Law or
regulation or in the interpretation or administration thereof by any Governmental Authority charged
with the interpretation or administration thereof (whether or not having the force of law), (ii)
the Dodd-Frank Wall Street Reform and Consumer Protection Act or the compliance with any requests,
rules, guidelines or directives thereunder or issued in connection therewith, regardless of the
date enacted, adopted or issued or (iii) the compliance with any requests, rules, guidelines or
directives promulgated by the Bank for International settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States regulatory authorities, in
each case pursuant to Basel III, regardless of the date enacted, adopted or issued (x) shall
impose, modify or deem applicable any reserve, special deposit or similar requirement against
assets of, deposits with or for the account of, or credit extended by, any Lender, (y) shall
impose on any Lender or the London Interbank market any other condition affecting this Agreement or
any LIBOR Loan or Fixed Rate Competitive Loan made by such Lender or (z) shall subject any Lender
to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any
participation in a Letter of Credit or any LIBOR Loan made by it, or change the basis of taxation
of payments to such Lender in respect thereof, and the result of any of the foregoing shall be to
increase the cost (other than, except as provided in clause (z), the amount of Taxes, if any) to
such Lender of making or maintaining any LIBOR Loan or Fixed Rate Competitive Loan or to reduce the
amount (other than a reduction resulting from an increase in Taxes, if any) of any sum received or
receivable by such Lender hereunder (whether of principal, interest or otherwise) in respect
thereof by an amount deemed in good faith by such Lender to be material, then the Borrower or the
relevant Subsidiary Borrower shall pay such additional amount or amounts as will compensate such
Lender for such increase or reduction to such Lender.

          (b) Except with respect to Indemnified Taxes and Other Taxes, which shall be governed solely
and exclusively by Section 2.23, if (i) after the Closing Date, any Lender shall have determined in

 

 

good faith that the adoption after the Closing Date of any applicable law, rule, regulation or
guideline regarding capital adequacy, or any change therein, or any change in the interpretation or
administration thereof by any Governmental Authority, central bank or comparable agency charged
with the interpretation or administration thereof, or compliance by any Lender (or any Lending
Office of such Lender) with any request or directive regarding capital adequacy (whether or not
having the force of law) of any such Governmental Authority, central bank or comparable agency,
(ii) the Dodd-Frank Wall Street Reform and Consumer Protection Act or the compliance with any
requests, rules, guidelines or directives thereunder or issued in connection therewith, regardless
of the date enacted, adopted or issued or (iii) the compliance with any requests, rules, guidelines
or directives promulgated by the Bank for International settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States regulatory authorities, in
each case pursuant to Basel III, regardless of the date enacted, adopted or issued, has or would
have the effect of reducing the rate of return on such Lender’s capital or on the capital of the
Lender’s holding company, if any, as a consequence of its obligations hereunder to a level below
that which such Lender (or its holding company) could have achieved but for the items referenced in
clauses (i)-(iii) of this sentence (taking into consideration such Lender’s policies or the
policies of its holding company, as the case may be, with respect to capital adequacy) by an amount
deemed by such Lender to be material, then, from time to time, the Borrower shall pay to the
Administrative Agent for the account of such Lender such additional amount or amounts as will
compensate such Lender for such reduction upon demand by such Lender.

          (c) A certificate of a Lender setting forth in reasonable detail (i) such amount or amounts as
shall be necessary to compensate such Lender as specified in paragraph (a) or (b) above, as the
case may be, and (ii) the calculation of such amount or amounts referred to in the preceding clause
(i), shall be delivered to the Borrower or the relevant Subsidiary Borrower and shall be conclusive
absent manifest error. The Borrower or the relevant Subsidiary Borrower shall pay the
Administrative Agent for the account of such Lender the amount shown as due on any such certificate
within 10 Business Days after its receipt of the same.

          (d) Failure on the part of any Lender to demand compensation for any increased costs or
reduction in amounts received or receivable or reduction in return on capital with respect to any
Interest Period shall not constitute a waiver of such Lender’s rights to demand compensation for
any increased costs or reduction in amounts received or receivable or reduction in return on
capital with respect to such Interest Period or any other Interest Period. The protection of this
Section 2.17 shall be available to each Lender regardless of any possible contention of invalidity
or inapplicability of the law, regulation or condition which shall have been imposed.

          (e) Each Lender agrees that, as promptly as practicable after it becomes aware of the
occurrence of an event or the existence of a condition that (i) would cause it to incur any
increased cost under this Section 2.17, Section 2.18, Section 2.23 or Section 2.26 or (ii) would
require the Borrower or any Subsidiary Borrower to pay an increased amount under this Section 2.17,
Section 2.18, Section 2.23 or Section 2.26, it will notify the Borrower and such Subsidiary
Borrower of such event or condition and, to the extent not inconsistent with such Lender’s internal
policies, will use its reasonable efforts to make, fund or maintain the affected Loans of such
Lender, or, if applicable to participate in Letters of Credit, through another Lending Office of
such Lender if as a result thereof the additional monies which would otherwise be required to be
paid or the reduction of amounts receivable by such Lender thereunder in respect of such Loans or
Letters of Credit would be materially reduced, or any inability to perform would cease to exist, or
the increased costs which would otherwise be required to be paid in respect of such Loans or
Letters of Credit pursuant to this Section 2.17, Section 2.18, Section 2.23 or Section 2.26 would
be materially reduced or the Taxes payable under Section 2.23, or other amounts otherwise payable
under this Section 2.17, Section 2.18 or Section 2.26 would be materially reduced, and if, as
determined by such Lender, in its sole discretion, the making, funding or maintaining of such Loans
or Letters of Credit

 

 

through such other Lending Office would not otherwise materially adversely affect such Loans
or Letters of Credit or such Lender. For the avoidance of doubt, nothing in this Section shall
affect or postpone any of the obligations of the Borrower or any Subsidiary Borrower or the rights
of any Lender pursuant to Section 2.23.

          (f) In the event any Lender shall have delivered to the Borrower or any Subsidiary Borrower a
notice that LIBOR Loans are no longer available from such Lender pursuant to Section 2.18, or if
the Borrower or such Subsidiary Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.16 or Section 2.23,
the Borrower may (but subject in any such case to the payments required by Section 2.18), upon at
least five Business Days’ prior written or telecopier notice to such Lender and the Administrative
Agent, identify to the Administrative Agent a lending institution reasonably acceptable to the
Administrative Agent which will purchase the Revolving Commitment, the amount of outstanding Loans,
any participations in Letters of Credit from the Lender providing such notice and such Lender shall
thereupon assign its Revolving Commitment, any Loans owing to such Lender and any participations in
Letters of Credit to such replacement lending institution pursuant to Section 10.3. Such notice
shall specify an effective date for such assignment and at the time thereof, the Borrower and any
relevant Subsidiary Borrower shall pay all accrued interest, accrued Facility Fees and all other
amounts (including without limitation all amounts payable under this Section) owing hereunder to
such Lender as at such effective date for such assignment.

          SECTION 2.18. Change in Legality.

          (a) Notwithstanding anything to the contrary herein contained, if, after the Closing Date, any
change in any law or regulation or in the interpretation thereof by any Governmental Authority
charged with the administration or interpretation thereof shall make it unlawful for any Lender to
make or maintain any LIBOR Loan or to give effect to its obligations as contemplated hereby, then,
by written notice to the Borrower and to the Administrative Agent, such Lender may:

          (i) declare that LIBOR Loans will not thereafter be made by such Lender hereunder,
whereupon such Lender shall not submit a Competitive Bid in response to a request for
LIBOR Competitive Loans and the Borrower and any Subsidiary Borrower shall be prohibited
from requesting LIBOR Revolving Credit Loans from such Lender hereunder unless such
declaration is subsequently withdrawn; and

          (ii) require that all outstanding LIBOR Loans made by it be converted to ABR Loans,
in which event (A) all such LIBOR Loans shall be automatically converted to ABR Loans as
of the effective date of such notice as provided in Section 2.18(b) and (B) all payments
and prepayments of principal which would otherwise have been applied to repay the
converted LIBOR Loans shall instead be applied to repay the ABR Loans resulting from the
conversion of such LIBOR Loans; provided that the principal amount of any such
LIBOR Loan denominated in any Optional Currency shall be converted to the Dollar
Equivalent there of concurrently with its conversion to an ABR Loan.

          (b) For purposes of this Section 2.18, a notice to the Borrower by any Lender pursuant to
Section 2.18(a) shall be effective on the date of receipt thereof by the Borrower.

          SECTION 2.19. Reimbursement of Lenders.

          (a) The Borrower or the relevant Subsidiary Borrower shall reimburse each Lender on demand for
any loss incurred or to be incurred by it in the reemployment of the funds released (i) by any
payment or prepayment (for any reason, whether voluntary, mandatory, automatic, by reason of

 

 

acceleration or otherwise, including an assignment by a Lender contemplated under Section
10.17), or conversion or continuation, of any LIBOR or Fixed Rate Competitive Loan if such Loan is
repaid other than on the last day of the applicable Interest Period for such Loan or (ii) in the
event that after the Borrower or the relevant Subsidiary Borrower delivers a notice of borrowing
under Section 2.3 in respect of LIBOR Revolving Credit Loans or a Competitive Bid Accept/Reject
Letter under Section 2.7(d), pursuant to which it has accepted bids of one or more of the Lenders,
the applicable Loan is not made on the first day of the Interest Period specified by the Borrower
or the relevant Subsidiary Borrower for any reason other than (I) a suspension or limitation under
Section 2.18 of the right of the Borrower or the relevant Subsidiary Borrower to select a LIBOR
Loan or (II) a breach by a Lender of its obligations hereunder. In the case of such failure to
borrow, such loss shall be the amount as reasonably determined by such Lender as the excess, if any
of (A) the amount of interest which would have accrued to such Lender on the amount not borrowed,
at a rate of interest equal to the interest rate applicable to such Loan pursuant to Section 2.11,
for the period from the date of such failure to borrow, to the last day of the Interest Period for
such Loan which would have commenced on the date of such failure to borrow, over (B) the amount
realized by such Lender in reemploying the funds not advanced during the period referred to above.
In the case of a payment other than on the last day of the Interest Period for a Loan, such loss
shall be the amount as reasonably determined by the Administrative Agent as the excess, if any, of
(A) the amount of interest which would have accrued on the amount so paid at a rate of interest
equal to the interest rate applicable to such Loan pursuant to Section 2.11, for the period from
the date of such payment to the last day of the then current daily Interest Period for such Loan,
over (B) the amount equal to the product of (x) the amount of the Loan so paid times (y)
the current daily yield on U.S. Treasury Securities (at such date of determination) with maturities
approximately equal to the remaining Interest Period for such Loan times (z) the number of
days remaining in the Interest Period for such Loan. Each Lender shall deliver to the Borrower or
the relevant Subsidiary Borrower from time to time one or more certificates setting forth the
amount of such loss (and in reasonable detail the manner of computation thereof) as determined by
such Lender, which certificates shall be conclusive absent manifest error. The Borrower or the
relevant Subsidiary Borrower shall pay to the Administrative Agent for the account of each Lender
the amount shown as due on any certificate within thirty days after its receipt of the same.

          (b) In the event the Borrower or the relevant Subsidiary Borrower fails to prepay any Loan on
the date specified in any prepayment notice delivered pursuant to Section 2.15(a), or to convert or
continue any Loan (other than an ABR Loan) other than on the date or in the amount notified by the
Borrower or the relevant Subsidiary Borrower in accordance with the terms of this Agreement, the
Borrower or the relevant Subsidiary Borrower on demand by any Lender shall pay to the
Administrative Agent for the account of such Lender any amounts required to compensate such Lender
for any loss incurred by such Lender as a result of such failure to prepay, including, without
limitation, any loss, cost or expenses incurred by reason of the acquisition of deposits or other
funds by such Lender to fulfill deposit obligations incurred in anticipation of such prepayment.
Each Lender shall deliver to the Borrower or the relevant Subsidiary Borrower and the
Administrative Agent from time to time one or more certificates setting forth the amount of such
loss (and in reasonable detail the manner of computation thereof) as determined by such Lender,
which certificates shall be conclusive absent manifest error.

          (c) For purposes of calculating amounts payable under this Section 2.19, each Lender shall be
deemed to have funded each LIBOR Loan made by it at LIBOR for such Loan by a matching deposit or
other borrowing in the London interbank eurodollar market for a comparable amount and for a
comparable period, whether or not such LIBOR Loan was in fact so funded.

 

 

          SECTION 2.20. Pro Rata Treatment.

          (a) Except as permitted under Sections 2.16, 2.17, 2.18, 2.19, 2.26, 2.29, 2.31 or as set forth anywhere else in this Agreement or any other Loan Document,

          (i) each Revolving Credit Borrowing, each payment or
prepayment of principal of any Revolving Credit Borrowing, each payment of interest on the Revolving Credit Loans, each payment of the Facility Fees, each reduction of the Total Revolving Commitment and each refinancing of any Borrowing with, or conversion of any Borrowing to, a Revolving Credit Borrowing, or continuation
of any Borrowing as a Revolving Credit Borrowing, shall be allocated pro rata among the Revolving Lenders in accordance with their respective Revolving Percentages, in each case with respect to such Revolving Lender’s respective tranche of Loans; and

          (ii) each payment of principal of any Competitive
Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective principal amounts of their outstanding Competitive Loans comprising such Borrowing. Each payment of interest on any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such
 Borrowing in accordance with the respective amounts of accrued and unpaid interest on their outstanding Competitive Loans comprising such Borrowing.

          (b) For purposes of determining the available
Revolving Commitments of the Lenders at any time, each outstanding Competitive Borrowing shall be deemed to have utilized the Revolving Commitments of the Lenders (including those Lenders that shall not have made Loans as part of such Competitive Borrowing) pro rata in accordance with such respective Revolving Commitments.

          (c) Each Lender agrees that in computing such
Lender’s portion of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing computed in accordance with Section 2.1, to the next higher or lower whole dollar amount.

          SECTION 2.21. Right of Setoff.

               If any Event of Default shall have occurred and be continuing and the Required Lenders shall
have directed the Administrative Agent to declare the Loans immediately due and payable pursuant to
Section 7, each Lender is hereby authorized at any time and from time to time, to the fullest
extent permitted by Applicable Law, to set off and apply any and all deposits (general or special,
time or demand, provisional or final) at any time held by such Lender and any other indebtedness at
any time owing by such Lender to, or for the credit or the account of, (i) the Borrower, against
any of and all the obligations of the Borrower now or hereafter existing under this Agreement and
the Loans to the Borrower held by such Lender, or (ii) any Subsidiary Borrower, against any of and
all the obligations of such Subsidiary Borrower now or hereafter existing under this Agreement and
the Loans to such Subsidiary Borrower held by such Lender, irrespective of whether or not such
Lender shall have made any demand under this Agreement or such Loans and although such Obligations
may be unmatured. Each Lender agrees promptly to notify the Borrower or such Subsidiary Borrower,
as applicable, after any such setoff and application made by such Lender, but the failure to give
such notice shall not affect the validity of such setoff and application. The rights of each
Lender under this Section 2.21 are in addition to other rights and remedies (including other rights
of setoff) which such Lender may have.

 

 

          SECTION 2.22. Manner of Payments.

          All payments by the Borrower and any Subsidiary Borrower hereunder shall be made in Dollars,
except that prepayments or repayments in respect of Loans shall be made in the Currency in which
such Loan is denominated, in Federal or other immediately available funds without deduction, setoff
or counterclaim at the Funding Office no later than 1:00 P.M., New York City time, on the date on
which such payment shall be due. Interest in respect of any Loan hereunder shall accrue from and
including the date of such Loan to, but excluding, the date on which such Loan is paid or
refinanced with a Loan of a different Interest Rate Type.

          SECTION 2.23. Taxes.

          (a) Any and all payments by or on account of any obligation of the Borrower or any Subsidiary
Borrower hereunder or under any Fundamental Document (including payments made by the Subsidiary
Borrowers in satisfaction of the Subsidiary Borrower Obligations) shall be made free and clear of
and without deduction for any Indemnified Taxes or Other Taxes; provided that if the
Borrower or any Subsidiary Borrower shall be required to deduct any Indemnified Taxes or Other
Taxes from such payments, then (i) the Borrower or the relevant Subsidiary Borrower shall make such
deductions, (ii) the Borrower or the relevant Subsidiary Borrower shall pay such amounts to the
relevant Governmental Authority in accordance with Applicable Law, and (iii) the sum payable by the
Borrower or Subsidiary Borrower shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section 2.23) the
Administrative Agent or Lender, as the case may be, receives an amount equal to the sum it would
have received had no such deductions been made.

          (b) In addition, the Borrower or any relevant Subsidiary Borrower shall pay any Other Taxes to
the relevant Governmental Authority in accordance with Applicable Law.

          (c) If the United States Internal Revenue Service or other Governmental Authority of the
United States of America or other jurisdiction asserts a claim against the Administrative Agent or
a Lender that the full amount of Indemnified Taxes or Other Taxes has not been paid (including
where such Indemnified Taxes or Other Taxes are imposed directly on the Administrative Agent or any
Lender), the Borrower and each Subsidiary Borrower shall indemnify the Administrative Agent and
each Lender within 10 days after written demand therefor, for the full amount of any Indemnified
Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or
with respect to any payment by or on account of any obligation of the Borrower or such Subsidiary
Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section 2.23) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority (other
than those resulting from the Administrative Agent or Lender’s gross negligence or willful
misconduct). A certificate (along with a copy of the applicable documents from the United States
Internal Revenue Service or other Governmental Authority of the United States of America or other
jurisdiction that asserts such claim) as to the amount of such payment or liability and setting
forth in reasonable detail the calculation and basis for such payment or liability delivered to the
Borrower or the relevant Subsidiary Borrower by a Lender or by the Administrative Agent on its own
behalf or on behalf of a Lender, shall be conclusive absent manifest error.

          (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower or any Subsidiary Borrower to a Governmental Authority, the Borrower or such Subsidiary
Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by

 

 

such Governmental Authority evidencing such payment, a copy of the return reporting such
payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

          (e) Any Lender that is entitled to an exemption from or reduction of withholding Tax with
respect to payments under this Agreement shall deliver to the Borrower (with a copy to the
Administrative Agent) (or, in the case of a Participant, to the Lender from which the related
participation shall have been purchased), at the time such Lender becomes a party to this Agreement
(or, in the case of any Participant, on or before the date such Participant purchases the related
participation) and at any other time or times reasonably requested by the Borrower, such properly
completed and executed documentation prescribed by Applicable Law or reasonably requested by the
Borrower as will permit such payments to be made without withholding or at a reduced rate. Each
Lender and Administrative Agent that is a United States Person, as defined in Section 7701(a)(30)
of the Code (other than Persons that are corporations or otherwise exempt from United States backup
withholding Tax), shall deliver at the time(s) and in the manner(s) prescribed by Applicable Law,
to the Borrower and the Administrative Agent (as applicable), a properly completed and duly
executed United States Internal Revenue Form W-9, or any successor form, certifying that such
Person is exempt from United States backup withholding Tax on payments made hereunder.

          (f) If the Administrative Agent or a Lender determines, in its sole good-faith discretion,
that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by
the Borrower or any Subsidiary Borrower or with respect to which the Borrower or any Subsidiary
Borrower has paid additional amounts pursuant to this Section 2.23, it shall pay over such refund
to the Borrower or such Subsidiary Borrower (but only to the extent of indemnity payments made, or
additional amounts paid, by the Borrower or such Subsidiary Borrower under this Section 2.23 with
respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses
of the Administrative Agent or such Lender and without interest (other than any interest paid by
the relevant Governmental Authority with respect to such refund); provided that the
Borrower or such Subsidiary Borrower, upon the request of the Administrative Agent or such Lender,
agrees to repay the amount paid over to the Borrower or such Subsidiary Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent or such Lender in the event the Administrative Agent or such Lender is
required to repay such refund to such Governmental Authority. This Section 2.23 shall not be
construed to require the Administrative Agent or any Lender to make available its Tax returns (or
any other information relating to its Taxes which it deems confidential) to the Borrower, any
Subsidiary Borrower or any other Person.

          (g) Each Lender agrees (i) that as between it and the Borrower, any Subsidiary Borrower or the
Administrative Agent, it shall be the Person to deduct and withhold Taxes, and to the extent
required by law it shall deduct and withhold Taxes, on amounts that such Lender may remit to any
other Person(s) by reason of any undisclosed transfer or assignment of an interest in this
Agreement to such other Person(s) pursuant to paragraph (g) of Section 10.3 and (ii) to indemnify
the Borrower, any Subsidiary Borrower and the Administrative Agent and any officers, directors,
agents, or employees of the Borrower, any Subsidiary Borrower or the Administrative Agent against,
and to hold them harmless from, any Tax, interest, additions to Tax, penalties, reasonable counsel
and accountants’ fees, disbursements or payments arising from the assertion by any appropriate
Governmental Authority of any claim against them relating to a failure to withhold Taxes as
required by Applicable Law with respect to amounts described in clause (i) of this paragraph (g).

          (h) Each assignee of a Lender’s interest in this Agreement in conformity with Section 10.3
shall be bound by this Section 2.23, so that such assignee will have all of the obligations and
provide all of the forms and statements and all indemnities, representations and warranties
required to be given under this Section 2.23.

 

 

          SECTION 2.24. Certain Pricing Adjustments.

          The Facility Fee and applicable LIBOR Spread for Revolving Credit Loans in effect from time to
time shall be determined in accordance with the following table:

	 	 	 	 	 	 	 
	 	 	 	 	Applicable LIBOR	 	Total
	Moody’s/S&P	 	Facility Fee	 	Spread	 	Drawn Pricing
	Rating Equivalent	 	(in Basis Points)	 	(in Basis Points)	 	(in Basis Points)
	3 A3/A-
	 	15.0	 	85.0	 	100.0
	Baa1/BBB+
	 	17.5	 	107.5	 	125.0
	Baa2/BBB
	 	20.0	 	117.5	 	137.5
	Baa3/BBB-
	 	22.5	 	142.5	 	165.0
	< Baa3/BBB-
	 	27.5	 	172.5	 	200.0

          In the event that S&P and Moody’s ratings on the Borrower’s senior non-credit enhanced
unsecured long-term debt are not equivalent to each other, the higher rating of S&P or Moody’s will
determine the Facility Fee and applicable LIBOR Spread, unless the ratings are more than one level
apart, in which case the rating one level below the higher rating of S&P or Moody’s will be
determinative. In the event that (a) the Borrower’s senior non-credit enhanced unsecured long-term
debt is not rated by both of S&P or Moody’s (for any reason, including if S&P or Moody’s shall
cease to be in the business of rating corporate debt obligations) or (b) if the rating system of
any of S&P or Moody’s shall change, then an amendment shall be negotiated in good faith to the
references to specific ratings in the table above to reflect such changed rating system or the
unavailability of ratings from such rating agency (including an amendment to provide for the
substitution of an equivalent or successor ratings agency). In the event that the Borrower’s
senior unsecured long-term debt is not rated by either of S&P or Moody’s, then the Facility Fee and
applicable LIBOR Spread shall be deemed to be calculated as if the lowest rating category set forth
above applied until such time as an amendment to the table above shall be agreed to. Any increase
in the Facility Fee or applicable LIBOR Spread determined in accordance with the foregoing table
shall become effective on the date of announcement or publication by the Borrower or the applicable
rating agency of a reduction in such rating or, in the absence of such announcement or publication,
on the effective date of such decreased rating, or on the date of any request by the Borrower to
the applicable rating agency not to rate its senior unsecured long-term debt or on the date any of
such rating agencies announces it shall no longer rate the Borrower’s senior unsecured long-term
debt. Any decrease in the Facility Fee or applicable LIBOR Spread shall be effective on the date
of announcement or publication by any of such rating agencies of an increase in rating or in the
absence of announcement or publication on the effective date of such increase in rating.

          The applicable margin for ABR Loans shall be the applicable LIBOR Spread minus 100
Basis Points (but not less than 0%).

          SECTION 2.25. Prepayments Required Due to Currency Fluctuation.

          (a) Not later than 1:00 P.M., New York City time, on the last Business Day of each fiscal
quarter or at such other time as is reasonably determined by the Administrative Agent (the
“Calculation Time”), the Administrative Agent shall determine the Dollar Equivalent of the
Revolving Credit Exposure as of such date.

          (b) If at the Calculation Time, the Dollar Equivalent of the Revolving Credit Exposure exceeds
the Total Revolving Commitment by 5% or more, then within five Business Days after notice thereof
to the Borrower from the Administrative Agent, the Borrower shall prepay Revolving Credit

 

 

Loans or Swingline Loans (or cause any Subsidiary Borrower to make such prepayment) in an
aggregate principal amount at least equal to such excess. Nothing set forth in this Section
2.25(b) shall be construed to require the Administrative Agent to calculate compliance under this
Section 2.25(b) other than at the times set forth in Section 2.25(a).

          SECTION 2.26. Letters of Credit.

          (a) (1) Upon the terms and subject to the conditions hereof, each Issuing Lender agrees to
issue standby letters of credit for the account of the Borrower or any Domestic Subsidiary Borrower
(the letters of credit issued on and after the Closing Date pursuant to this Section 2.26, together
with the Existing Letters of Credit, collectively, the “Letters of Credit”) payable in
Dollars from time to time after the Closing Date and prior to the earlier of the Maturity Date and
the termination of the Revolving Commitments, upon the request of the Borrower or any Domestic
Subsidiary Borrower, provided that (A) neither the Borrower nor any Domestic Subsidiary
Borrower shall request that any Letter of Credit be issued if, after giving effect thereto, the
Revolving Exposure would exceed the Total Revolving Commitment or the aggregate L/C Exposure would
exceed $350,000,000, (B) in no event shall any Issuing Lender issue (x) any Letter of Credit having
an expiration date later than five Business Days before the Maturity Date or (y) any Letter of
Credit having an expiration date more than one year after its date of issuance, provided
that any Letter of Credit with a one-year tenor may provide for the automatic extension thereof for
additional one-year periods (which shall in no event extend beyond the date referred to in clause
(x) above), (C) neither Borrower nor any Domestic Subsidiary Borrower shall request that an Issuing
Lender issue any Letter of Credit if, after giving effect to such issuance or reinstatement, the
L/C Exposure would exceed the Total Revolving Commitment and (D) an Issuing Lender shall be
prohibited from issuing Letters of Credit hereunder upon the occurrence and during the continuance
of an Event of Default (provided that such Issuing Lender shall have received notice of
such Event of Default pursuant to Section 8.4 hereof and provided further that such
notice shall be received at least 24 hours prior to the date on which any Letter of Credit is to be
issued). The Administrative Agent will, upon request of any Issuing Lender, confirm the total
amount of L/C Exposure and the aggregate outstanding Loans to such Issuing Lender. Letters of
Credit outstanding under the Prior Credit Agreement on the Closing Date shall be deemed to have
been issued under this Agreement on the Closing Date.

          (2) Immediately upon the issuance of each Letter of Credit, each Revolving Lender shall
be deemed to, and hereby agrees to, have irrevocably purchased from the applicable Issuing
Lender, a participation in such Letter of Credit in an amount equal to such Revolving
Lender’s Revolving Percentage multiplied by the stated amount of such Letter of Credit. In
consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely
and unconditionally agrees to pay to the Administrative Agent, for the account of such
Issuing Lender, an amount equal to such Lender’s Revolving Percentage of each amount paid by
such Issuing Lender in respect of each Letter of Credit (as such amount may be increased as
set forth below) issued by such Issuing Lender and not reimbursed by the Borrower or the
relevant Domestic Subsidiary Borrower on the date due as provided in this Section 2.26 and
of any reimbursement payment required to be refunded to the Borrower or the relevant
Domestic Subsidiary Borrower for any reason. Each Revolving Lender acknowledges and agrees
that its obligation to acquire participations pursuant to this paragraph in respect of
Letters of Credit and its other obligations under this Section 2.26 are absolute and
unconditional and shall not be affected by any circumstance whatsoever, including (A) any
amendment or extension of any Letter of Credit, (B) the occurrence and continuance of a
Default or an Event of Default, (C) reduction or termination of the Revolving Commitments,
(D) any setoff, counterclaim, recoupment, defense or other right which such Lender may have
against the Issuing Lender, the Borrower, any Domestic Subsidiary Borrower or any other
Person for any reason whatsoever or (E) any other occurrence, event or condition, whether or
not similar to any of the foregoing; and

 

 

	 	 	that each such payment shall be made without any offset, abatement, withholding or
reduction whatsoever.

          (3) Neither the Administrative Agent, the Lenders, any Issuing Lender, nor any of their
Related Parties, shall have any liability or responsibility by reason of or in connection
with the issuance or transfer of any Letter of Credit or any payment or failure to make any
payment thereunder, or any error, omission, interruption, loss or delay in transmission or
delivery of any draft, notice or other communication under or relating to any Letter of
Credit (including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond the control
of any Issuing Lender; provided that the foregoing shall not be construed to excuse
any Issuing Lender from liability to the Borrower or the relevant Domestic Subsidiary
Borrower to the extent of any direct damages (as opposed to consequential damages, claims in
respect of which are hereby waived by the Borrower and any Domestic Subsidiary Borrower to
the extent permitted by applicable law) suffered by the Borrower or the relevant Domestic
Subsidiary Borrower that are caused by such Issuing Lender’s failure to exercise care when
determining whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof.

          (4) Each Letter of Credit may, at the option of the applicable Issuing Lender, provide
that such Issuing Lender may (but shall not be required to) pay all or any part of the
maximum amount which may at any time be available for drawing thereunder to the beneficiary
thereof upon the occurrence of an Event of Default and the acceleration of the maturity of
the Loans, provided that, if payment is not then due to the beneficiary, such
Issuing Lender shall deposit the funds in question in an account with such Issuing Lender to
secure payment to the beneficiary and any funds so deposited shall be paid to the
beneficiary of the Letter of Credit if conditions to such payment are satisfied or returned
to the Administrative Agent for distribution to the Lenders (or, if all Obligations shall
have been paid in full in cash, to the Borrower or the relevant Domestic Subsidiary
Borrower) if no payment to the beneficiary has been made and the final date available for
drawings under the Letter of Credit has passed. Each payment or deposit of funds by an
Issuing Lender as provided in this paragraph shall be treated for all purposes of this
Agreement as a drawing duly honored by such Issuing Lender under the related Letter of
Credit.

          (5) The Issuing Lender shall not be required to issue Letters of Credit if (i) any
Lender is a Defaulting Lender, unless (A) the Issuing Lender has entered into arrangements,
including the delivery of Cash Collateral, satisfactory to the Issuing Lender (in its sole
discretion) with the Borrower or such Lender to eliminate the Issuing Lender’s actual or
potential Fronting Exposure (after giving effect to Section 2.31(a)(iv)) with respect to the
Defaulting Lender arising from either the Letter of Credit then proposed to be issued or
that Letter of Credit and all other L/C Exposure as to which the Issuing Lender has Fronting
Exposure, as it may elect in its sole discretion or (B) the Fronting Exposure resulting from
such Defaulting Lender has been reallocated pursuant to Section 2.31(a)(iv); (ii) any order,
judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to
enjoin or restrain the Issuing Lender from issuing such Letter of Credit, or any Applicable
Law applicable to the Issuing Lender or any request or directive (whether or not having the
force of law) from any Governmental Authority with jurisdiction over the Issuing Lender
shall prohibit, or request that the Issuing Lender refrain from, the issuance of letters of
credit generally or such Letter of Credit in particular or shall impose upon the Issuing
Lender with respect to such Letter of Credit any restriction, reserve or capital requirement
(for which the Issuing Lender is not otherwise compensated hereunder) not in effect on the
Closing Date, or shall impose upon the Issuing Lender any unreimbursed loss, cost or expense
which was not applicable on the Closing Date and

 

 

which the Issuing Lender in good faith deems material to it or (iii) the issuance of
such Letter of Credit would violate one or more policies of the Issuing Lender applicable to
letters of credit generally and applicable to customers of such Issuing Lender generally.

          (6) Each Issuing Lender shall, no later than the third Business Day following the last
day of each month, provide to Administrative Agent a schedule of the Letters of Credit
issued by it, in form and substance reasonably satisfactory to Administrative Agent, showing
the date of issuance of each Letter of Credit, the account party, the original face amount
(if any), the expiration date, and the reference number of any Letter of Credit outstanding
at any time during such month, and showing the aggregate amount (if any) payable by Borrower
to such Issuing Lender during such month pursuant to Section 2.26(f). Promptly after the
receipt of such schedule from each Issuing Lender, Administrative Agent shall provide to
Lenders a summary of such schedules.

          (7) Unless otherwise specified herein, the amount of a Letter of Credit at any time
shall be deemed to be the stated amount of such Letter of Credit in effect at such time;
provided, however, that with respect to any Letter of Credit that, by its terms or the terms
of any document related thereto, provides for one or more automatic increases in the stated
amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated
amount of such Letter of Credit after giving effect to all such increases, whether or not
such maximum stated amount is in effect at such time.

          (b) Whenever the Borrower or any Domestic Subsidiary Borrower desires the issuance of a Letter
of Credit, it shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been approved by the applicable Issuing Lender) to the
Administrative Agent and the applicable Issuing Lender a written notice no later than 1:00 P.M.
(New York time) at least five Business Days prior to the proposed date of issuance provided,
however, the Borrower or the relevant Domestic Subsidiary Borrower and the Administrative Agent and
such Issuing Lender may agree to a shorter time period. That notice shall specify (i) the Issuing
Lender for such Letter of Credit, (ii) the proposed date of issuance (which shall be a Business Day
under the laws of the jurisdiction of the applicable Issuing Lender), (iii) the face amount of the
Letter of Credit, (iv) the expiration date of the Letter of Credit and (v) the name and address of
the beneficiary and (vi) such other information as shall be necessary to prepare, amend, renew or
extend such Letter of Credit. Such notice shall be accompanied by a brief description of the
underlying transaction and upon the request of the applicable Issuing Lender, the Borrower or the
relevant Domestic Subsidiary Borrower shall provide additional details regarding the underlying
transaction. If requested by an Issuing Lender, the Borrower or the relevant Domestic Subsidiary
Borrower also shall submit a letter of credit application on the Issuing Lender’s standard form in
connection with any request for a Letter of Credit, which form shall be furnished in accordance
with Section 10.1. In the event of any inconsistency between the terms and conditions of this
Agreement and the terms and conditions of any form of letter of credit application or other
agreement submitted by the Borrower or the relevant Domestic Subsidiary Borrower to, or entered
into by the Borrower or the relevant Domestic Subsidiary Borrower with, any Issuing Lender relating
to any Letter of Credit, the terms and conditions of this Agreement shall control. Concurrently
with the giving of written notice of a request for the issuance of a Letter of Credit, the Borrower
or the relevant Domestic Subsidiary Borrower shall specify a precise description of the documents
and the verbatim text of any certificate to be presented by the beneficiary of such Letter of
Credit which, if presented by such beneficiary prior to the expiration date of the Letter of
Credit, would require the applicable Issuing Lender to make payment under the Letter of Credit;
provided that the applicable Issuing Lender, in its reasonable discretion, may require
customary changes in any such documents and certificates. Upon issuance of any Letter of Credit,
the applicable Issuing Lender shall notify the Administrative Agent of the issuance of such Letter
of

 

 

Credit. Promptly after receipt of such notice, the Administrative Agent shall notify each
Lender of the issuance and the amount of each such Lender’s respective participation therein.

          (c) The payment of drafts under any Letter of Credit shall be made in accordance with the
terms of such Letter of Credit and, in that connection, any Issuing Lender shall be entitled to
honor any drafts and accept any documents presented to it by the beneficiary of such Letter of
Credit in accordance with the terms of such Letter of Credit and believed by such Issuing Lender in
good faith to be genuine. No Issuing Lender shall have any duty to inquire as to the accuracy or
authenticity of any draft or other drawing documents which may be presented to it, but shall be
responsible only to determine in accordance with customary commercial practices that the documents
which are required to be presented before payment or acceptance of a draft under any Letter of
Credit have been delivered and that they comply on their face with the requirements of that Letter
of Credit.

          (d) If any Issuing Lender shall be requested to make payment on any draft presented under a
Letter of Credit, such Issuing Lender shall give notice of such request for payment to the
Administrative Agent and the Administrative Agent shall give notice to each Revolving Lender no
later than 3:00 P.M. New York City time of its respective participation therein on behalf of such
Issuing Lender. Each Revolving Lender hereby authorizes and requests such Issuing Lender to
advance for its account pursuant to the terms hereof its share of such payment based upon its
participation in the Letter of Credit and agrees to reimburse such Issuing Lender by making payment
to the Administrative Agent for the account of such Issuing Lender in immediately available funds
for the amount so advanced on its behalf no later than 4:00 P.M. New York City time on the date
such Issuing Lender makes such request. If such reimbursement is not made by any Revolving Lender
in immediately available funds on the same day on which such Issuing Lender shall have made payment
on any such draft presented under a Letter of Credit, such Lender shall pay interest thereon to the
Administrative Agent, for the account of such Issuing Lenders, at a rate per annum equal to the
Issuing Lender’s cost of obtaining overnight funds in the New York Federal Funds Market.

          (e) In the case of any draft presented under a Letter of Credit (provided that the
conditions specified in Section 4.2 (other than clause (a) thereof) are then satisfied, and
notwithstanding the limitations as to the aggregate principal amount of ABR Loans set forth in
Section 2.2(a), as to the time of funding of a Borrowing set forth in Section 2.2(c) and as to the
time of notice of a proposed Borrowing set forth in Section 2.3), payment by the applicable Issuing
Lender of such draft shall constitute an ABR Loan hereunder, and interest shall accrue from the
date the applicable Issuing Lender makes such payment, which ABR Loan, upon and to the extent that
a Revolving Lender shall have made reimbursement to the applicable Issuing Lender pursuant to
Section 2.26(d), shall constitute such Lender’s ABR Loan hereunder. If any draft is presented
under a Letter of Credit and (i) the conditions specified in Section 4.2 are not satisfied or (ii)
if the Revolving Commitments have been terminated, then the Borrower or the relevant Domestic
Subsidiary Borrower will, upon demand by the Administrative Agent or the applicable Issuing Lender,
on the same Business Day of such draft (or on the next Business Day if notice of such draft is
received after 10:00 A.M. New York City time), pay to the Administrative Agent, for the account of
the applicable Issuing Lender, in immediately available funds, the full amount of such draft.

          (f) (i) The Borrower and each Domestic Subsidiary Borrower agree to pay the following amounts
to the Administrative Agent for the account of each Issuing Lender (or, in the case of clauses (B)
and (C) below, directly to such Issuing Lender) with respect to Letters of Credit issued by such
Issuing Lender hereunder:

          (A) with respect to drawings made under any Letter of Credit issued for the
account of the Borrower or such Domestic Subsidiary Borrower, interest, payable on

 

 

demand, on the amount paid by such Issuing Lender in respect of each such
drawing from the date of the drawing to, but excluding, the date such amount is
reimbursed by the Borrower or such Domestic Subsidiary Borrower at a rate which is
at all times equal to 2% per annum (without duplication of any amounts payable under
Section 2.12) in excess of the Alternate Base Rate plus the applicable margin
therefore calculated pursuant to Section 2.24; provided that no such default
interest shall be payable if such reimbursement is made (a) from the proceeds of
Revolving Credit Loans or (b) otherwise in compliance with Section 2.26(e);

          (B) the customary issuance, presentation, amendment and other processing fees,
and other standard costs and charges, of such Issuing Lender relating to letters of
credit as from time to time in effect (with such fees and standard costs and charges
to be due and payable on demand and nonrefundable); and

          (C) a fronting fee computed at the rate agreed to by the Borrower and the
applicable Issuing Lender (but, in any event, not greater than 0.20% per annum),
computed on the daily amount available to be drawn under each outstanding Letter of
Credit issued by such Issuing Lender, such fee to be due and payable in arrears on
and through the last day of each fiscal quarter of the Borrower, on the Maturity
Date and on the expiration of the last outstanding Letter of Credit.

          (ii) The Borrower and each Domestic Subsidiary Borrower agree to pay to the
Administrative Agent for distribution to each Revolving Lender in respect of all
outstanding Letters of Credit issued for the account of the Borrower or such Domestic
Subsidiary Borrower, such Lender’s Revolving Percentage of a commission on the daily
amount available to be drawn under such outstanding Letters of Credit calculated at a rate
per annum equal to the LIBOR Spread applicable to Revolving Credit Loans from time to time
in effect hereunder; provided, however, any commissions otherwise payable
for the account of a Defaulting Lender with respect to any Letter of Credit as to which
such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Lender
pursuant to this Section 2.26 shall be payable, to the maximum extent permitted by
applicable law, to the other Lenders in accordance with the upward adjustment in their
respective Revolving Percentages allocable to such Letter of Credit pursuant to Section
2.31(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its
own account. Such commission shall be payable in arrears on and through the last day of
each fiscal quarter of the Borrower and on the later of the Maturity Date and the
expiration of the last outstanding Letter of Credit.

          (iii) For purposes of computing the daily amount available to be drawn under any
Letter of Credit, the amount of such Letter of Credit shall be determined in accordance
with Section 2.26(a)(vii).

          (iv) Promptly upon receipt by any Issuing Lender or the Administrative Agent (as
applicable) of any amount described in clauses (i) or (ii) of this Section 2.26(f), or any
amount described in Section 2.26(e) previously reimbursed to the applicable Issuing Lender
by the Revolving Lenders, such Issuing Lender shall distribute such amount to the
Administrative Agent and the Administrative Agent shall distribute to each Revolving
Lender (other than to any Revolving Lender which has failed to reimburse the Issuing
Lender for the applicable drawing) its pro rata share of such amount.

          (v) The obligation of the Borrower and each Domestic Subsidiary Borrower to reimburse
the Issuing Lender for each drawing under each Letter of Credit and to

 

 

repay each Letter of Credit shall be absolute, unconditional and irrevocable, and
shall be paid strictly in accordance with the terms of this Agreement under all
circumstances, including the following:

               (a) any lack of validity or enforceability of such Letter of Credit, this Agreement, or
any other agreement related hereto;

               (b) the existence of any claim, counterclaim, setoff, defense or other right that the
Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of
such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the Issuing Lender or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement
or instrument relating thereto, or any unrelated transaction;

               (c) any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect; or any loss or delay in the
transmission or otherwise of any document required in order to make a drawing under such
Letter of Credit;

               (d) any payment by the Issuing Lender under such Letter of Credit against presentation
of a draft or certificate that does not strictly comply with the terms of such Letter of
Credit; or any payment made by the Issuing Lender under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; or

               (e) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, the Borrower or any Subsidiary.

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that
is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions
or other irregularity, the Borrower will promptly notify the Issuing Lender. The Borrower shall be
conclusively deemed to have waived any such claim against the Issuing Lender and its correspondents
unless such notice is given as aforesaid.

          (g) If at any time when an Event of Default shall have occurred and be continuing, any Letters
of Credit shall remain outstanding, then either the applicable Issuing Lender(s), the
Administrative Agent or the Required Lenders may, at its or their option, require the Borrower or
the relevant Domestic Subsidiary Borrower to deposit Cash Equivalents in a Cash Collateral Account
in an amount equal to the full amount of the L/C Exposure or to furnish other security acceptable
to the Administrative Agent and the applicable Issuing Lender(s), provided that the
obligation to deposit such cash collateral shall become effective within one Business Day after the
Borrower and/or such Domestic Subsidiary Borrower receives notice from the applicable Issuing
Lender, the Administrative Agent or the Required Lenders, and provided, further that such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Borrower described in clause (f) or (g) of
Section 7. Such deposit shall be held by the Administrative Agent as collateral for the
Obligations. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account. Other than any interest earned on

 

 

the investment of such deposits, which investments shall be made in Cash Equivalents and at
the option and sole discretion of the Administrative Agent and at the Borrower’s and/or the
relevant Domestic Subsidiary Borrower’s risk and expense, such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Any amounts so
delivered pursuant to the preceding sentence shall be applied to reimburse the applicable Issuing
Lender(s) for the amount of any drawings honored under Letters of Credit issued by it. If the
Borrower or any Domestic Subsidiary Borrower is required to deposit Cash Equivalents (or other
security) pursuant to the provisions of this Section 2.26(g) as a result of the occurrence of an
Event or Default, such amount (to the extent not applied as set forth in the preceding provisions
of this paragraph) shall be returned by the Administrative Agent to the Borrower or such Domestic
Subsidiary Borrower within three Business Days after such Event of Default has been cured or
waived.

          (h) If at any time, the sum of the Revolving Credit Exposure exceeds the aggregate Revolving
Commitments, then the Administrative Agent may, at its option, require the Borrower and/or any
Domestic Subsidiary Borrower to deposit Cash Equivalents in a Cash Collateral Account in an amount
sufficient to eliminate such excess or to furnish other security for such excess acceptable to the
Administrative Agent. Any amounts so delivered pursuant to the preceding sentence shall be applied
to reimburse the applicable Issuing Lender(s) for the amount of any drawings honored under Letters
of Credit issued for the account of the Borrower or such Domestic Subsidiary Borrower and held as
cash collateral for the Obligations. If the Borrower or any Domestic Subsidiary Borrower is
required to deposit Cash Equivalents (or other security) pursuant to the provisions of this Section
2.26(h), such amount (to the extent not applied as set forth in the preceding sentence) shall be
returned by the Administrative Agent to the Borrower or such Domestic Subsidiary Borrower within
three Business Days after such excess is reduced to $0.

          (i) Upon the request of the Administrative Agent, each Issuing Lender shall furnish to the
Administrative Agent copies of any Letter of Credit issued by such Issuing Lender and such related
documentation as may be reasonably requested by the Administrative Agent.

          (j) If the Borrower so requests in any applicable Letter of Credit Application, the Issuing
Lender may, in its sole and absolute discretion, agree to issue a Letter of Credit that permits the
automatic reinstatement of all or a portion of the stated amount thereof after any drawing
thereunder (each, an “Auto-Reinstatement Letter of Credit”). Unless otherwise directed by
the Issuing Lender, the Borrower shall not be required to make a specific request to the Issuing
Lender to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been issued,
except as provided in the following sentence, the Lenders shall be deemed to have authorized (but
may not require) the Issuing Lender to reinstate all or a portion of the stated amount thereof in
accordance with the provisions of such Letter of Credit. Notwithstanding the foregoing, if such
Auto-Reinstatement Letter of Credit permits the Issuing Lender to decline to reinstate all or any
portion of the stated amount thereof after a drawing thereunder by giving notice of such
non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement
Deadline”), the Issuing Lender shall not permit such reinstatement if it has received a notice
(which may be by telephone or in writing) on or before the day that is seven Business Days before
the Non-Reinstatement Deadline (A) from the Administrative Agent that the Required Lenders have
elected not to permit such reinstatement or (B) from the Administrative Agent, any Lender or the
Borrower that one or more of the applicable conditions specified in Section 4.2 is not then
satisfied (treating such reinstatement as an issuance of a Letter of Credit for purposes of this
clause) and, in each case, directing the Issuing Lender not to permit such reinstatement.

          (k) Notwithstanding the termination of the Revolving Commitments and the payment of the Loans,
the obligations of the Borrower, any Domestic Subsidiary Borrower and the Lenders under this
Section 2.26 shall remain in full force and effect until the Administrative Agent, each Issuing
Lender and

 

 

the Lenders shall have been irrevocably released from their obligations with regard to any and
all Letters of Credit.

          SECTION 2.27. New Local Facilities.

          (a) The Borrower or any Subsidiary Borrower may at any time or from time to time on or after
the Closing Date, by notice to the Administrative Agent, request the Revolving Lenders to designate
a portion of their respective Revolving Commitments to make Revolving Extensions of Credit
denominated in Dollars and any Optional Currency in a jurisdiction inside or outside of the United
States pursuant to a newly established sub-facility under the Revolving Facility (each, a “New
Local Facility”); provided that (i) both at the time of any such request and upon the
effectiveness of any Local Facility Amendment referred to below, no Default or Event of Default
shall have occurred and be continuing, (ii) the Borrower and its Subsidiaries shall be in
compliance with the covenants set forth in Sections 6.5 and 6.6 as of the last day of the most
recently ended fiscal quarter and (iii) if applicable, a Subsidiary Borrower for such new Local
Facility shall be designated pursuant to Section 10.9(b); provided further that (i)
Letters of Credit and Swingline Loans shall not be issued or made under a New Local Facility unless
the Borrower, the Administrative Agent, and, as applicable, the Swingline Lender and the Issuing
Lender have agreed and (ii) no Lender shall be required to make Revolving Extensions of Credit in
excess of its Revolving Commitment. Each New Local Facility shall be in a minimum Dollar Equivalent
amount of $10,000,000, and the aggregate Dollar Equivalent amounts of the New Local Facilities
shall not exceed $250,000,000 at any time. Each notice from the Borrower pursuant to this Section
2.27 shall set forth the requested amount and proposed terms of the relevant New Local Facility.
Revolving Lenders wishing to designate a portion of their Revolving Commitments to a New Local
Facility (each, a “New Local Facility Lender”) shall have such portion of their Revolving
Commitment designated to such New Local Facility on a pro rata basis in accordance with the
aggregate Revolving Commitments of the other applicable New Local Facility Lenders unless otherwise
agreed by the Borrower, the Administrative Agent and such New Local Facility Lender. The
designation of Revolving Commitments to any New Local Facility shall be made pursuant to an
amendment (each, a “Local Facility Amendment”) to this Agreement and, as appropriate, the
other Fundamental Documents, executed by the Loan Parties, the Administrative Agent and each New
Local Facility Lender. Any Local Facility Amendment may, without the consent of any other Lenders,
effect such amendments to this Agreement and the other Fundamental Documents as may be necessary or
appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to implement
the provisions of this Section, a copy of which shall be made available to each Lender. The
effectiveness of any Local Facility Amendment shall be subject to the satisfaction on the date
thereof of each of the conditions set forth in Section 4.2 and such other conditions as the parties
thereto shall agree. No Revolving Lender shall be obligated to transfer any portion of its
Revolving Commitments to a New Local Facility unless it so agrees.

          (b) Notwithstanding any provision of this Agreement to the contrary, each New Local Facility
shall be deemed to be a utilization of the Revolving Commitments and upon the effectiveness of a
New Local Facility: (i) participating interests of the Lenders in existing and future Letters of
Credit and Swingline Loans issued under the Revolving Commitments shall be reallocated based on the
respective Revolving Commitments of the Lenders after giving effect to the utilization thereof by
the New Local Facilities and (ii) future Revolving Loans shall be funded by the Lenders based on
the respective Revolving Commitments of the Lenders after giving effect to the utilization thereof
by the New Local Facilities, in each case until reallocated in accordance with this paragraph (b);
in each case subject to further adjustments based on the utilization from time to time of the
Revolving Commitments by the New Local Facilities. Payments in respect of Letters of Credit,
Swingline Loans and Revolving Loans and extensions of credit under New Local Facilities shall be
made as directed by the Administrative Agent in order to give effect to this paragraph (b).

 

 

          (c) This Section 2.27 shall supersede any provisions in Section 10.9 or any other provision of
this Agreement to the contrary as it relates to any Local Facility Amendment.

          (d) As of the Closing Date, the Borrower and the Lenders party thereto have entered into the
Australian Local Facility Amendment, pursuant to which an Australian Dollar subfacility has been
established on the terms set forth therein.

          SECTION 2.28. Incremental Term Loans.

          (a) The Borrower may at any time or from time to time after the Closing Date, by notice to the
Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of
the Lenders), request one or more tranches of term loans (the “Incremental Term Loans”) be
made available under this Agreement to the Borrower or one or more Subsidiary Borrowers;
provided that both at the time of any such request and upon the effectiveness of any
Incremental Amendment referred to below, no Default or Event of Default shall exist. Each tranche
of Incremental Term Loans shall be in an aggregate principal amount that is not less than
$10,000,000 and shall be in an increment of $1,000,000 (provided that such amount may be
less than $10,000,000 if such amount represents all remaining availability under the limit set
forth in the next sentence). Notwithstanding anything to the contrary herein, no Incremental Term
Loan shall be made if, immediately after giving effect to such Incremental Term Loan, the aggregate
outstanding principal amount of the Incremental Term Loans, plus the Total Revolving Commitment at
such time, would exceed $1,500,000,000. Each Incremental Term Loan shall (a) rank pari passu in
right of payment and of security, if any, with the Revolving Credit Loans and the other Incremental
Term Loans, if any; (b) be subject to pricing and maturity agreed to by the Borrower and the
Lenders providing such Incremental Term Loan; and (c) not be subject to any scheduled or mandatory
principal amortization prior to the Maturity Date (other than customary limited amortization for
institutional term loans); provided that except for pricing and maturity (as limited by the
preceding paragraph (c)), the terms and conditions applicable to the Incremental Term Loans will be
as set forth in this Agreement unless otherwise approved by the Administrative Agent. Each notice
from the Borrower pursuant to this Section 2.28 shall set forth the requested amount and proposed
terms of the relevant Incremental Term Loan. In the case of Incremental Term Loans, the Lenders
providing such Incremental Term Loans, with the consent of the Administrative Agent, may agree to
allow the Borrower and its Subsidiaries and controlled Affiliates to become Eligible Assignees with
respect to such Incremental Term Loans under circumstances, terms and conditions to be agreed at
the time of incurrence but in all cases subject to Section 10.3(l). Incremental Term Loans may be
made and may be provided by any existing Lender (but no Lender will have an obligation to provide
any portion of any Incremental Term Loan) or by any other bank or other financial institution, in
each case subject to the written consent of the Administrative Agent to the extent the
Administrative Agent would have a right under this Agreement to consent to an assignment of all or
any portion of any Lender’s Loans or Revolving Commitment to such existing Lender or bank, or other
financial institution (any such other bank or other financial institution being called an
“Incremental Lender”). Commitments in respect of Incremental Term Loans shall become
commitments under this Agreement pursuant to an amendment (an “Incremental Amendment”) to
this Agreement and, as appropriate, the other Fundamental Documents, executed by the Borrower, each
Lender agreeing to provide such commitment, each Incremental Lender, if any, and the Administrative
Agent. The Incremental Amendment may, with the consent of the Borrower and the Administrative
Agent, effect such amendments to this Agreement and the other Fundamental Documents (including the
amendment and restatement thereof and to provide Incremental Lenders with appropriate voting and
loan assignment rights and other provisions reflecting the terms of the applicable Incremental
Facility) as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent
and the Borrower, to effect the provisions of this Section 2.28. The Borrower will use the
proceeds of the Incremental Term Loans for any purpose not prohibited by this Agreement. No Lender
shall be obligated to provide any portion of any Incremental Term Loan unless it so agrees. Each
Incremental Lender shall become party

 

 

to this Agreement upon acceptance by the Administrative Agent of an Incremental Lender
Supplement signed by such Incremental Lender substantially in the form of Exhibit G-2.

          (b) This Section 2.28 shall supersede any provisions in Section 10.9 to the contrary.

          SECTION 2.29. Loan Modification Offers.

          (a) The Borrower may, by written notice to the Administrative Agent from time to time after
the Closing Date, make one or more offers (but there shall not be more than two offers outstanding
at any one time) (each, a “Loan Modification Offer”) to all the Revolving Lenders to make
one or more Permitted Amendments (as defined in clause (c) below) pursuant to procedures reasonably
agreed upon by the Borrower and the Administrative Agent, including as to minimum tranche amounts.
Such notice shall set forth (i) the terms and conditions of the requested Permitted Amendment and
(ii) the date on which such Permitted Amendment is requested to become effective (which shall not
be less than ten Business Days nor more than sixty Business Days after the date of such offer).
Permitted Amendments shall become effective only with respect to the Loans and Revolving
Commitments of the Revolving Lenders that accept the applicable Loan Modification Offer (each such
Lender a “Modifying Lender”). No Revolving Lenders will be required to accept a Loan
Modification Offer.

          (b) The Borrower and each Revolving Lender that accepts the Loan Modification Offer shall
execute and deliver to the Administrative Agent a Loan Modification Agreement and such other
documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of
the Permitted Amendments and the terms and conditions thereof. The Administrative Agent shall
promptly notify each Lender as to the effectiveness of each Loan Modification Agreement and deliver
such Loan Modification Agreement to the Lenders. Each of the parties hereto agrees that, upon the
effectiveness of any Loan Modification Agreement, this Agreement and each other Fundamental
Document shall be deemed amended as may be necessary and appropriate (including the amendment and
restatement hereof), in the reasonable opinion of the Administrative Agent and the Borrower, to
effect the provisions of this Section 2.29. In connection therewith, the Lenders accepting such
Loan Modification Offer (and their associated commitments) may be moved into a new tranche of loans
and/or commitments hereunder and the Borrower and such Modifying Lenders will agree on the maturity
date, interest rate, fees, amount of any letter of credit sub-facility, if any, amount of any swing
line sub-facility, if any, of such new tranche of revolving credit commitments, amortization, if
any and other procedural mechanics reasonably related thereto. Contemporaneously with the creation
of such new tranche, each Modifying Lender’s Revolving Commitment shall be reduced dollar for
dollar with its commitment to such new tranche. The Borrower may, at its sole option, terminate or
reduce the aggregate Revolving Commitments of the Revolving Lenders that do not accept the Loan
Modification Offer. Additionally, to the extent the Borrower has reduced the Revolving Commitments
of Lenders that are not Modifying Lenders, it may add any other Eligible Assignee (with the consent
of the Administrative Agent and the relevant Issuing Lender, such consent not to be unreasonably
withheld or delayed) to provide a commitment to make loans on the terms set forth in such Loan
Modification Offer in an amount not to exceed the amount of the Revolving Commitments reduced
pursuant to the preceding sentence.

          (c) “Permitted Amendments” shall be (i) an extension of the final termination date of
the applicable Revolving Loans and/or Revolving Commitments of the affected Revolving Lenders
accepting the applicable Loan Modification Offer (provided that there cannot be more than
three final termination dates for Revolving Loans and/or Revolving Commitments without the consent
of the Administrative Agent), (ii) a reduction in the Revolving Commitments of the affected
Revolving Lenders accepting the Loan Modification Offer, (iii) the payment of the then agreed upon
extension fees, if any, to the affected Revolving Lenders accepting the applicable Loan
Modification Offer, (iv) increases in pricing with respect to Loans or other extensions of credit
of Revolving Commitments of the Revolving Lenders that

 

 

accept the applicable Loan Modification Offer, if any, (v) the allocation of Letters of Credit
and Swingline Loans between any extending tranche and the non-extending tranche and (vi) other
amendments which implement the foregoing.

          (d) Permitted Amendments shall be approved by the Revolving Lenders accepting a Loan
Modification Offer, the Administrative Agent and the Borrower without the need to obtain the
approval of the other Lenders. This Section 2.29 shall supersede any provision in Section 10.9 to
the contrary. All Loans to the Borrower under this Agreement shall rank pari-passu in right of
payment.

          SECTION 2.30. Cash Collateral.

          (a) Certain Credit Support Events. Upon the request of the Administrative Agent or
the Issuing Lender (i) if the Issuing Lender has honored any full or partial drawing request
under any Letter of Credit and such drawing has resulted in an extension of credit under a Letter
of Credit, or (ii) if, as of the date the Letter of Credit expires, any balance under the Letters
of Credit for any reason remains outstanding, the Borrower shall, in each case, immediately Cash
Collateralize the then outstanding amount of all Letters of Credit. At any time that there shall
exist a Defaulting Lender and after giving effect to the commitment reallocation procedure set
forth in Section 2.31(a)(iv), in the event that Fronting Exposure still exists, immediately upon
the request of the Administrative Agent, the Issuing Lender or the Swingline Lender, the Borrower
shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all
Fronting Exposure (after giving effect to Section 2.31(a)(iv) and any Cash Collateral provided by
the Defaulting Lender).

          (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in Cash Collateral Accounts. The
Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to
the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing
Lender and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority
security interest in all such cash, deposit accounts and all balances therein, and all other
property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as
security for the obligations to which such Cash Collateral may be applied pursuant to Section
2.30(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any
right or claim of any Person other than the Administrative Agent as herein provided, or that the
total amount of such Cash Collateral is less than the applicable Fronting Exposure and other
obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon
demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash
Collateral in an amount sufficient to eliminate such deficiency.

          (c) Application. Notwithstanding anything to the contrary contained in this
Agreement, Cash Collateral provided under any of this Section 2.30 or Sections 2.26, 2.31 or 8.3 in
respect of Letters of Credit or Swingline Loans shall be held and applied to the satisfaction of
the specific Letters of Credit, Swingline Loans, obligations to fund participations therein
(including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such
obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein.

          (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the elimination of
the applicable Fronting Exposure or other obligations giving rise thereto, such determination to be
made in the reasonable discretion of the Administrative Agent (including by the termination of
Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following
compliance with Section 10.3)) or (ii) the Administrative Agent’s good faith determination that
there exists excess Cash Collateral; provided, however, (x) that Cash Collateral
furnished by or on behalf of a Loan Party shall not be released

 

 

during the continuance of a Default or Event of Default (and following application as provided
in this Section 2.30 may be otherwise applied in accordance with Section 8.3), and (y) the Person
providing Cash Collateral and the Issuing Lender or Swingline Lender, as applicable, may agree that
Cash Collateral shall not be released but instead held to support future anticipated Fronting
Exposure or other obligations.

          SECTION 2.31. Defaulting Lenders.

          (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender,
to the extent permitted by Applicable Law:

          (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.9.

          (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity and including any amounts made available to the
Administrative Agent by that Defaulting Lender pursuant to Section 8.3, shall be applied at
such time or times as may be determined by the Administrative Agent as follows: first, to
the payment of any amounts owing by that Defaulting Lender to the Administrative Agent
hereunder; second, to the payment on a pro-rata basis of any amounts owing by that
Defaulting Lender to the Issuing Bank or Swingline Lender hereunder; third, if so determined
by the Administrative Agent or requested by an Issuer Lender or Swingline Lender to be held
in a Cash Collateral Account for future funding obligations of that Defaulting Lender of any
participation in any Swingline Loan or Letter of Credit; fourth, as the Borrower may request
(so long as no Default or Event of Default exists), to the funding of any Loan in respect
of which that Defaulting Lender has failed to fund its portion thereof as required by this
Agreement, as determined by the Administrative Agent; fifth if so determined by the
Administrative Agent and the Borrower, to be held in escrow in a non-interest bearing
deposit account and released in order to satisfy obligations of that Defaulting Lender to
fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders,
the Issuer Lender or Swingline Lender as a result of any judgment of a court of competent
jurisdiction obtained by any Lender, the Issuing Lender or Swingline Lender against that
Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under
this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of
amounts owing to the Borrower as a result of any judgment of a court of competent
jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that
Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that
Defaulting Lender or as otherwise directed by a court of competent jurisdiction;
provided that if (x) such payment is a payment of the principal amount of any Loans
or Letters of Credit in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans or Letters of Credit were made at a time when the
conditions set forth in Section 4.2 were satisfied or waived, such payment shall be applied
solely to pay the Loans of, and reimbursement obligations owed to all non-Defaulting Lenders
on a pro rata basis prior to being applied to the payment of any Loans, or reimbursement
obligations owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid
or payable to a Defaulting Lender that are applied (or placed in escrow) to pay amounts owed
by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.31 shall be
deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably
consents hereto. Promptly following termination of this Agreement (including the
termination of all Letters of Credit issued hereunder) and the payment of all amounts owed
under this

 

 

Agreement (other than unasserted contingent obligations which by their terms survive
the termination of this Agreement), all amounts, if any, held in the Cash Collateral
Agreement referred to in Section 2.31(a)(ii) shall be returned to the applicable Defaulting
Lender(s).

          (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to
receive any facility fee pursuant to Section 2 for any period during which that Lender is a
Defaulting Lender only to the extent allocable to the sum of (1) the outstanding amount of
the Revolving Credit Loans funded by it and (2) its Revolving Percentage of the stated
amount Letters of Credit and Swingline Loans for which Cash Collateral has been provided
(and the Borrower shall (A) be required to pay to each of the Issuing Lender and the
Swingline Lender, as applicable, the amount of such fee allocable to its Fronting Exposure
arising from that Defaulting Lender and (B) not be required to pay the remaining amount of
such fee that otherwise would have been required to have been paid to that Defaulting
Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided
in Section 2.26(f).

          (iv) Reallocation of Revolving Percentages to Reduce Fronting Exposure. If any
Revolving L/C Exposure or Swingline Exposure exist at the time a Lender is a Defaulting
Lender:

               (x) such Revolving L/C Exposure or Swingline Exposure will automatically be reallocated
(effective on the day such Lender becomes a Defaulting Lender) among the non-Defaulting
Lenders on a pro-rata basis in accordance with their respective Revolving Commitment
(without giving effect to the Revolving Commitment of such Defaulting Lender); provided that
(A) no non-Defaulting Lender’s Revolving Percentage of the Revolving Loans, the Revolving
L/C Exposure and the Swingline Exposure may in any event exceed its Revolving Commitment as
in effect at the time of such reallocation, (B) neither such reallocation nor any payment by
a non-Defaulting Lender pursuant thereto will constitute a waiver or release of any claim
any Loan Party, the Administrative Agent, any Issuing Lender, the Swingline Lender or any
other Lender may have against such Defaulting Lender or cause such Defaulting lender to be a
non-Defaulting Lender, and (C) each such reallocation shall be given effect only if, at the
date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default
exists.

               (y) to the extent any portion (the “unallocated portion”) of the Defaulting
Lender’s Revolving L/C Exposure or Swingline Exposure cannot be reallocated to
non-Defaulting Lenders the Borrower will, not later than three Business Days after written
demand therefor by the Administrative Agent (at the direction of any Issuing Lender or the
Swingline Lender), (A) Cash Collateralize in full its obligations to the Issuing Lenders in
respect of the unreallocated portion of such Revolving L/C Exposure, (B) prepay in full its
obligations to the Swingline Lender in respect of the unreallocated portion of such
Swingline Exposure or (C) make other arrangements reasonably satisfactory to the
Administrative Agent and to the Issuing Lenders and the Swingline Lender in their sole
discretion to protect them against the risk of non-payment by such Defaulting Lender; and

               (z) to the extent the unreallocated portion of any Revolving L/C Exposure is Cash
Collateralized pursuant to clause (y) above, such Cash Collateral will be applied to
reimburse the relevant Issuing Lender for the portion of any unreimbursed drawing under a
Letter of Credit to which such unreallocated portion relates and, to the extent the
remaining portion of such unreimbursed drawing shall not be reimbursed by the Borrower in
accordance with Section 2.26(f), the non-Defaulting Lenders will be required pursuant to
Section 2.26(b) to fund participations therein in accordance with clause (x) above.

 

 

          (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Swingline
Lender and the Issuing Lender agree in writing in their reasonable discretion that a Lender no
longer falls within the definition of “Defaulting Lender”, the Administrative Agent will so notify
the parties hereto, whereupon as of the effective date specified in such notice and subject to any
conditions set forth therein (which may include arrangements with respect to any Cash Collateral),
that Lender will, to the extent applicable, purchase that portion of outstanding Revolving Loans of
the other Lenders or take such other actions as the Administrative Agent may determine to be
necessary to cause the Revolving Loans and funded and unfunded participations in Letters of Credit
and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their
Revolving Percentages, whereupon that Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees or commissions accrued or payments made
by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further,
that except to the extent otherwise expressly agreed by the affected parties, no change hereunder
from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party
hereunder arising from that Lender’s having been a Defaulting Lender.

3. REPRESENTATIONS AND WARRANTIES OF BORROWER

          In order to induce the Lenders to enter into this Agreement and to make the Loans and issue
and participate in the Letters of Credit provided for herein, the Borrower makes the following
representations and warranties to the Administrative Agent and the Lenders, all of which shall
survive the execution and delivery of this Agreement and the making of the Loans and issuance of
the Letters of Credit:

          SECTION 3.1. Corporate Existence and Power.

          (a) The Borrower is duly organized and validly existing in good standing under the laws of its
jurisdiction of organization and is in good standing or has applied for authority to operate as a
foreign corporation or other organization in all jurisdictions where the nature of its properties
or business so requires it and where a failure to be in good standing as a foreign corporation or
other organization would reasonably be expected to have Material Adverse Effect. Each of the
Borrower and each Subsidiary Borrower has the corporate power to execute, deliver and perform its
obligations under this Agreement and the other Fundamental Documents and other documents
contemplated hereby and to borrow hereunder.

          (b) The Subsidiaries of the Borrower are duly organized and are validly existing in good
standing under the laws of their respective jurisdictions of organization and are in good standing
or have applied for authority to operate as a foreign corporation or other organization in all
jurisdictions where the nature of their properties or business so requires it and where a failure
to be in good standing as a foreign corporation or other organization would reasonably be expected
to have Material Adverse Effect.

          SECTION 3.2. Corporate Authority, No Violation and Compliance with Law.

          The execution, delivery and performance of this Agreement and the other Fundamental Documents
and the borrowings hereunder (a) have been duly authorized by all necessary corporate action on the
part of the Borrower and each Subsidiary Borrower, (b) will not violate any provision of any
Applicable Law (including any laws related to franchising) applicable to the Borrower or any of its
Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of
the certificate of incorporation or by-laws or other organizational documents of the Borrower or
any of its Subsidiaries, (d) will not violate or be in conflict with, result in a breach of, or
constitute (with due notice or lapse of time or both) a default under, any material indenture,
bond, note, instrument or any other material agreement to which the Borrower or any of its
Subsidiaries is a party or by which the Borrower

 

 

or any of its Subsidiaries or any of their respective properties or assets are bound and (e)
will not result in the creation or imposition of any Lien upon any property or assets of the
Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental
Document, which in the case of clauses (b) and (d), individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect.

          SECTION 3.3. Governmental and Other Approval and Consents.

          No action, consent or approval of, or registration or filing with, or any other action by, any
governmental agency, bureau, commission or court is required in connection with the execution,
delivery and performance by the Borrower and each Subsidiary Borrower of this Agreement or the
other Fundamental Documents, except such as have been obtained or made and are in full force and
effect or where the failure to take such action or obtain such consent or approval would not
reasonably be expected to have a Material Adverse Effect.

          SECTION 3.4. Financial Statements of Borrower.

          (a) The audited balance sheet of the Borrower and its Consolidated Subsidiaries as at December
31, 2008, December 31, 2009 and December 31, 2010, and the related consolidated statements of
income and of cash flows for the fiscal years ended on such date (the “Consolidated Audited
Financial Statements”), fairly present the financial condition of the Borrower and its
Consolidated Subsidiaries as of the dates indicated and the results of operations and cash flows
for the periods indicated in conformity with GAAP.

          (b) The unaudited consolidated balance sheet of the Borrower and its Consolidated
Subsidiaries, dated March 31, 2011, and the related consolidated statements of income and of cash
flows for the fiscal quarter ended on that date (the “Consolidated Unaudited Financial
Statements”; and together with the Consolidated Audited Financial Statements, the
“Consolidated Financial Statements”) (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein, and
(ii) fairly present the financial condition of the Borrower and its Consolidated Subsidiaries as of
the date thereof and their results of operations and cash flows for the period covered thereby,
subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end
audit adjustments.

          SECTION 3.5. No Change.

          Except for Disclosed Matters, since the date of the most recent audited financial statements
referred to in Section 3.4, there has been no development or event that has had or would reasonably
be expected to have a Material Adverse Effect.

          SECTION 3.6. Copyrights, Patents and Other Rights.

          Each of the Borrower and its Subsidiaries (a) owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business, except
where the failure to do so would not reasonably be expected to have a Material Adverse Effect and
(b) to their knowledge, the use thereof by the Borrower and its Subsidiaries does not infringe upon
the rights of any other Person, except, in each case, as would not reasonably be expected to have a
Material Adverse Effect for any such infringements that, individually or in the aggregate, would
not reasonably be expected to have Material Adverse Effect.

 

 

          SECTION 3.7. Title to Properties.

          Subject to Section 3.6, each of the Borrower or its Subsidiaries has good title or valid
leasehold interests to each of the properties and assets reflected on the most recent balance sheet
referred to in Section 3.4 (other than properties or assets owned by a Person that is consolidated
with the Borrower or any of its Subsidiaries under GAAP but is not a Subsidiary of the Borrower ),
except for defects in title or interests that would not reasonably be expected to have Material
Adverse Effect, and all such properties and assets are free and clear of Liens, except Permitted
Encumbrances.

          SECTION 3.8. Litigation.

          Except for Disclosed Matters, there are no lawsuits or other proceedings pending (including,
but not limited to, matters relating to Environmental Law and Environmental Liability), or, to the
knowledge of the Borrower, threatened, against or affecting the Borrower or any of its Subsidiaries
or any of their respective properties, by or before any Governmental Authority or arbitrator, which
would reasonably be expected to have Material Adverse Effect. Neither the Borrower nor any of its
Subsidiaries is in default with respect to any order, writ, injunction, decree, rule or regulation
of any Governmental Authority, which default would reasonably be expected to have Material Adverse
Effect.

          SECTION 3.9. Federal Reserve Regulations.

          Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of purchasing or carrying
any Margin Stock. No part of the proceeds of the Loans will be used, whether immediately,
incidentally or ultimately, for any purpose violative of or inconsistent with any of the provisions
of Regulation U or X of the Board.

          SECTION 3.10. Investment Company Act.

          The Borrower is not, and will not during the term of this Agreement be, an “investment
company” subject to regulation under the Investment Company Act of 1940, as amended.

          SECTION 3.11. Enforceability.

          This Agreement and the other Fundamental Documents when executed by all parties hereto and
thereto will constitute legal, valid and binding obligations (as applicable) of the Borrower and
the other Loan Parties party to such Fundamental Documents (enforceable in accordance with its
terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting creditors’ rights generally and subject to general principles of equity, regardless
of whether considered in a proceeding in equity or at law).

          SECTION 3.12. Taxes.

          Each of the Borrower and each of its Subsidiaries has filed or caused to be filed all federal,
state and local Tax returns which are required to be filed, and has paid or has caused to be paid
all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith
by appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set
aside on its books adequate reserves in conformity with GAAP or (b) to the extent that the failure
to do so would not reasonably be expected to have a Material Adverse Effect.

 

 

          SECTION 3.13. Compliance with ERISA.

          Except as would not reasonably be expected, individually or in the aggregate, to have a
Material Adverse Effect: (a) no ERISA Event has occurred or is reasonably expected to occur; (b)
the Borrower, each of its Material Subsidiaries and each of its ERISA Affiliates is in compliance
with the provisions of ERISA and the Code applicable to Plans, and the regulations and published
interpretations thereunder applicable to such entity in connection therewith, if any; (c) neither
the Borrower nor any of its Subsidiaries has engaged in a transaction which would result in the
incurrence of liability under Section 4069 of ERISA; and (d) the present value of all accumulated
benefit obligations under each Plan (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most recent financial
statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and
the present value of all accumulated benefit obligations of all underfunded Plans (based on the
assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of
the date of the most recent financial statements reflecting such amounts, exceed the fair market
value of the assets of all such underfunded Plans.

          SECTION 3.14. Disclosure.

          As of the Closing Date, neither this Agreement nor any factual information set forth in the
Confidential Information Memorandum (excluding projections, other forward looking information and
information of a general economic or industry nature) dated June 20, 2011, when taken as a whole
contained any untrue statement of a material fact or omitted to state a material fact, under the
circumstances under which it was made, necessary in order to make the statements contained herein
or therein not materially misleading in light of the circumstances under which such statements were
made. At the Closing Date, there is no fact known to the Borrower which has not been disclosed to
the Lenders and which, individually or in the aggregate, would reasonably be expected to have a
Material Adverse Effect. The Borrower has delivered to the Administrative Agent certain
projections relating to the Borrower and its Consolidated Subsidiaries. Such projections are based
on good faith estimates and assumptions believed to be reasonable at the time made,
provided, however, that the Borrower makes no representation or warranty that such
assumptions will prove in the future to be accurate or that the Borrower and its Subsidiaries will
achieve the financial results reflected in such projections (it being understood that such
Projections are not to be viewed as facts and are subject to significant uncertainties and
contingencies, many of which are beyond the Borrower’s control, that no assurance can be given that
any particular Projections will be realized and that actual results may differ and that such
differences may be material).

          SECTION 3.15. Environmental Liabilities.

          Except for the Disclosed Matters and except with respect to any matters, that, individually or
in the aggregate, would not reasonably be expected to have a Material Adverse Effect, neither the
Borrower nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to
obtain, maintain or comply with any permit, license or other approval required under any
Environmental Law, (ii) has received notice of any claim with respect to any Environmental
Liability or (iii) knows of any circumstances that are reasonably likely to become the basis for
any claim of Environmental Liability against the Borrower or any of its Subsidiaries.

          SECTION 3.16. Material Subsidiaries.

          The Material Subsidiaries existing on the Closing Date (calculated as of December 31, 2010)
are listed on Schedule 3.16.

 

 

          SECTION 3.17. Anti-Terrorism Laws.

          The Borrower is not and, to the knowledge of the Borrower, none of its Affiliates is in
violation of any laws relating to terrorism or money laundering (“Anti-Terrorism Laws”), including
Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive
Order”), and the Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001, Public Law 107 56.

          The Borrower is not and, to the knowledge of the Borrower, none of its Affiliates or their
respective brokers or other agents acting or benefiting in any capacity in connection with the
Loans is any of the following:

          (a) a Person or entity that is listed in the annex to, or is otherwise subject to the
provisions of, the Executive Order;

          (b) a Person or entity owned or controlled by, or acting for or on behalf of, any Person or
entity that is listed in the annex to, or is otherwise subject to the provisions of, the Executive
Order;

          (c) a Person or entity with which any Lender is prohibited from dealing or otherwise engaging
in any transaction by any Anti-Terrorism Law;

          (d) a Person or entity that commits, threatens or conspires to commit or supports “terrorism”
as defined in the Executive Order; or

          (e) a Person or entity that is named as a “specially designated national and blocked person”
on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control
at its official website or any replacement website or other replacement official publication or
such list.

          The Borrower is not and, to the knowledge of the Borrower, none of its brokers or other agents
acting in any capacity in connection with the Loans (i) conducts any business or engages in making
or receiving any contribution of funds, goods or services to or for the benefit of any Person
described in clause (b) above, (ii) deals in, or otherwise engages in any transaction relating to,
any property or interests in property blocked pursuant to the Executive Order, or (iii) engages in
or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or
avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.

4. CONDITIONS OF LENDING

          SECTION 4.1. Conditions Precedent to Closing.

          The agreement of each Lender to make the initial extension of credit requested to be made by
it is subject to the satisfaction or waiver, prior to or concurrently with the making of such
extension of credit on the Closing Date, of the following conditions precedent:

          (a) Fundamental Documents. The Administrative Agent shall have received this
Agreement and any Notes requested in writing at least three Business Days prior to the Closing
Date, each executed and delivered by a duly authorized officer of each of the Loan Parties party
thereto.

          (b) Financial Statements. The Lenders shall have received the Consolidated Financial
Statements, which, in the case of the Consolidated Audited Financial Statements for 2008, 2009 and

 

 

2010, may be delivered to the Lenders by delivery of the Borrower’s Form 10-K filed with the
Securities and Exchange Commission containing such financial statements.

          (c) Payment of Fees. The Lenders and the Administrative Agent shall have received all
fees required to be paid, and all expenses for which invoices have been presented (including the
reasonable fees and expenses of legal counsel), at least three Business Days before the Closing
Date.

          (d) Corporate Documents for the Loan Parties. The Administrative Agent shall have
received a certificate of a Responsible Officer of each Loan Party dated the Closing Date and
certifying (A) that attached thereto is a true and complete copy of the certificate of
incorporation and by-laws of such Loan Party as in effect on the date of such certification; (B)
that attached thereto is a true and complete copy of resolutions adopted by the Board of Directors
of such Loan Party authorizing the borrowings hereunder, in the case of the Borrower, and the
execution, delivery and performance in accordance with their respective terms of the Fundamental
Documents to which such Loan Party is party to and any other documents required or contemplated
hereunder; (C) as to the incumbency and specimen signature of each Responsible Officer of such Loan
Party executing the Fundamental Documents to which such Loan Party is a party to or any other
document delivered by it in connection herewith (such certificate to contain a certification by
another Responsible Officer of such Loan Party as to the incumbency and signature of the
Responsible Officer signing the certificate referred to in this paragraph (d)); and (D) that
attached thereto are true and complete copies of such documents and certifications evidencing that
each Loan Party is validly existing, in good standing and qualified to engage in business in its
jurisdiction of organization and each other jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, except to the extent that
failure to do so could not reasonably be expected to have a Material Adverse Effect.

          (e) Opinions of Counsel. The Administrative Agent shall have received the executed
written opinion, dated the date of the Closing Date and addressed to the Administrative Agent and
the Lenders, of Kirkland & Ellis LLP, counsel to the Borrower, substantially in the form of Exhibit
A.

          (f) Officer’s Certificate. The Administrative Agent shall have received a certificate
of the Borrower’s chief executive officer or chief financial officer certifying, as of the Closing
Date, compliance with the conditions set forth in paragraphs (b) and (c) of Section 4.2.

          (g) Projections. The Lenders shall have received projections through 2014, which may
be delivered to the Lenders by delivery of the Confidential Information Memorandum referred to in
Section 3.14.

          (h) [Intentionally Omitted].

          (i) Approvals. All material governmental and third party approvals necessary in
connection with the continuing operations of the Borrower and the financing contemplated hereby
shall have been obtained and be in full force and effect.

          (j) Material Adverse Effect. The Lenders shall be satisfied that (i) there has been no
development or circumstance that has had or could reasonably be expected to have a Material Adverse
Effect since March 31, 2011 and (ii) the Borrower and its subsidiaries are not party to or subject
to any litigation or proceeding which would be likely to have a Material Adverse Effect.

          (k) Prior Credit Agreement. The Prior Credit Agreement shall have been terminated and
all unpaid amounts thereunder (other than unasserted contingent obligations which by their terms
survive termination) shall have been paid in full.

 

 

          (l) Patriot Act. The Administrative Agent and the Lenders shall have received all
documentation and other information required by regulatory authorities under applicable “know your
customer” and anti-money laundering rules and regulations, including the Patriot Act, requested by
such Person at least three Business Days prior to the Closing Date.

          (m) The Administrative Agent shall have received a Solvency Certificate from the Borrower.

          (n) Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges
and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by
the Administrative Agent) to the extent invoiced prior to or on the Closing Date, plus such
additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the
closing proceedings (provided that such estimate shall not thereafter preclude a final
settling of accounts between the Borrower and the Administrative Agent).

          SECTION 4.2. Conditions Precedent to Each Extension of Credit.

          The obligation of the Lenders to make each Loan and of any Issuing Lender to issue a Letter of
Credit, including the initial extensions of credit hereunder, is subject to the following
conditions precedent:

          (a) Notice. The Administrative Agent shall have received a notice with respect to
such Borrowing or Letter of Credit, as applicable, as required by this Agreement.

          (b) Representations and Warranties. The representations and warranties set forth in
Section 3 hereof and in the other Fundamental Documents shall be true and correct in all material
respects on and as of the date of each Borrowing or issuance of a Letter of Credit hereunder
(except to the extent that such representations and warranties expressly relate to an earlier date)
with the same effect as if made on and as of such date; provided, however, that
this condition shall not apply to a Revolving Credit Borrowing which is solely refinancing
outstanding Revolving Credit Loans and which, after giving effect thereto, has not increased the
aggregate amount of outstanding Revolving Credit Loans.

          (c) No Event of Default. No Event of Default or Default shall have occurred and be
continuing; provided, however, that this condition shall not apply to a Revolving
Credit Borrowing which is solely refinancing outstanding Revolving Credit Loans and which, after
giving effect thereto, has not increased the aggregate amount of outstanding Revolving Credit
Loans.

          (d) Extensions of Credit to a Subsidiary Borrower. The representations and warranties
contained in Section 3.1, 3.2 and 3.3 as to any Subsidiary Borrower to which a Revolving Extension
of Credit is to be made shall be true and correct in all material respects on and as of the date of
such Borrowing or issuance of a Letter of Credit hereunder; provided, however, that
this condition shall not apply to a Revolving Credit Borrowing which is solely refinancing
outstanding Revolving Credit Loans and which, after giving effect thereto, has not increased the
aggregate amount of outstanding Revolving Credit Loans.

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

 

 

5. AFFIRMATIVE COVENANTS

          From the date of the initial Loan and for so long as the Revolving Commitments shall be in
effect or any amount shall remain outstanding or unpaid under this Agreement or there shall be any
outstanding L/C Exposure, the Borrower agrees that, unless the Required Lenders shall otherwise
consent in writing, it will, and will cause each of its Subsidiaries to:

          SECTION 5.1. Financial Statements, Reports, etc.

          The Borrower will furnish to the Administrative Agent and to each Lender:

          (a) As soon as is practicable, but in any event within 100 days after the end of each fiscal
year of the Borrower, a copy of the audited consolidated balance sheet of the Borrower and its
Consolidated Subsidiaries as at the end of, and the related consolidated statements of income,
shareholders’ equity and cash flows for such year, and the corresponding figures as at the end of,
and for, the preceding fiscal year, accompanied by an opinion of Deloitte & Touche LLP or such
other independent certified public accountants of recognized standing as shall be retained by the
Borrower and reasonably satisfactory to the Administrative Agent, which report and opinion shall be
prepared in accordance with generally accepted auditing standards relating to reporting and which
report and opinion shall (A) be unqualified as to going concern and scope of audit and shall state
that such financial statements fairly present the financial condition of the Borrower and its
Consolidated Subsidiaries, as at the dates indicated and the results of the operations and cash
flows for the periods indicated and (B) contain no material exceptions or qualifications except for
qualifications relating to accounting changes (with which such independent public accountants
concur) in response to FASB releases or other authoritative pronouncements;

          (b) As soon as is practicable, but in any event within 55 days after the end of each of the
first three fiscal quarters of each fiscal year, the unaudited consolidated balance sheet of the
Borrower and its Consolidated Subsidiaries, as at the end of, and the related unaudited statements
of income (or changes in financial position) for such quarter and for the period from the beginning
of the then current fiscal year to the end of such fiscal quarter and the corresponding figures as
at the end of, and for, the corresponding period in the preceding fiscal year, together with a
certificate signed by the chief financial officer or a vice president responsible for financial
administration of the Borrower to the effect that such financial statements, while not examined by
independent public accountants, fairly present in all material respects the financial condition of
the Borrower and its Consolidated Subsidiaries, as at the end of the fiscal quarter and portion of
the fiscal year then ended and the results of their operations for the quarter and portion of the
fiscal year then ended in conformity with GAAP consistently applied, subject only to year-end audit
adjustments and to the absence of footnote disclosure;

          (c) Together with the delivery of the statements referred to in paragraphs (a) and (b) of this
Section 5.1, a certificate of the Responsible Officer, substantially in the form of Exhibit C
hereto (i) stating whether or not the signer has actual knowledge of any Default or Event of
Default and, if so, specifying each such Default or Event of Default of which the signer has actual
knowledge, the nature thereof and any action which the Borrower has taken, is taking, or proposes
to take with respect to each such condition or event and (ii) demonstrating in reasonable detail
compliance with the provisions of Sections 6.5 and 6.6 hereof;

          (d) With reasonable promptness, copies of such financial statements and reports that the
Borrower may make to, or file with, the SEC and such other information, certificates and data
(including, without limitation, copies of Letters of Credit) with respect to the Borrower and its
Subsidiaries as from time to time may be reasonably requested by the Administrative Agent or any of
the Lenders;

 

 

          (e) Promptly upon any Responsible Officer obtaining actual knowledge of the occurrence of any
Default or Event of Default, a certificate of a Responsible Officer specifying the nature and
period of existence of such Default or Event of Default and what action the Borrower has taken, is
taking and proposes to take with respect thereto; and

          (f) Promptly upon any Responsible Officer of the Borrower or any of its Subsidiaries obtaining
actual knowledge of (i) the institution of any action, suit, proceeding, investigation or
arbitration by any Governmental Authority or other Person against or affecting the Borrower or any
of its Subsidiaries or any of their assets, or (ii) any material development in any such action,
suit, proceeding, investigation or arbitration (whether or not previously disclosed to the
Lenders), which, in each case would reasonably be expected to have a Material Adverse Effect, the
Borrower shall promptly give notice thereof to the Lenders and provide such other information as
may be requested by the Administrative Agent or any Lender that is reasonably available to it
(without waiver of any applicable evidentiary privilege) to enable the Lenders to evaluate such
matters;

          (g) Together with each set of financial statements required by paragraph (a) above, a
certificate of the independent certified public accountants rendering the report and opinion
thereon (which certificate may be limited to the extent required by accounting rules or otherwise)
stating that, in connection with their audit, nothing has come to their attention that caused them
to believe that the Borrower failed to comply with the terms, covenants, provisions or conditions
of Sections 5.4, 5.5, 5.6, 6.1, 6.2 and 6.4 through 6.7, inclusive, or if a failure to comply has
come to their attention, specifying the nature and period of existence thereof;

          (h) Information required to be delivered pursuant to paragraphs (a), (b) and (d) shall be
deemed to have been delivered on the date on which the Borrower provides notice to the
Administrative Agent that such information has been posted on the Borrower’s website on the
internet at the website address listed on the signature pages of such notice, at www.sec.gov or at
another website accessible by the Lenders without charge; provided that the Borrower shall
deliver paper copies of the reports and financial statements referred to in paragraphs (a), (b) and
(d) of this Section 5.1 to the Administrative Agent or any Lender who requests the Borrower to
deliver such paper copies until written notice to cease delivering paper copies is given by the
Administrative Agent or such Lender.

     The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Bookrunners will
make available to the Lenders and the Issuing Lenders materials and/or information provided by or
on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. The Borrower hereby agrees
that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly
and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall
appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the
Borrower shall be deemed to have authorized the Administrative Agent, the Bookrunners, the Issuing
Lenders and the Lenders to treat such Borrower Materials as not containing any material non-public
information with respect to the Borrower or its securities for purposes of United States Federal
and state securities laws (provided, however, that to the extent such Borrower
Materials constitute Information, they shall be treated as set forth in Section 10.15); (y) all
Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the
Platform designated “Public Side Information;” and (z) the Administrative Agent and the Bookrunners
shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable
only for posting on a portion of the Platform not designated “Public Side Information.”

 

 

          SECTION 5.2. Corporate Existence; Compliance with Statutes.

          Do or cause to be done all things necessary to preserve, renew and keep in full force and
effect its corporate existence, material rights, licenses, permits and franchises and comply,
except where failure to comply, either individually or in the aggregate, would not reasonably be
expected to result in a Material Adverse Effect, with all provisions of Applicable Law, and all
applicable restrictions imposed by, any Governmental Authority, including without limitation, the
Federal Trade Commission’s “Disclosure Requirements and Prohibitions Concerning Franchising and
Business Opportunity Ventures” as amended from time to time (16 C.F.R. §§ 436.1 et
seq.) and all state laws and regulations of similar import; provided,
however, that mergers, dissolutions and liquidations permitted under Section 6.2 shall be
permitted.

          SECTION 5.3. Insurance.

          Maintain with financially sound and reputable insurers insurance in such amounts and against
such risks as are customarily insured against by companies in similar businesses; provided,
however, that (a) workmen’s compensation insurance or similar coverage may be effected with
respect to its operations in any particular state or other jurisdiction through an insurance fund
operated by such state or jurisdiction and (b) such insurance may contain self-insurance retention
and deductible levels consistent with normal industry practices.

          SECTION 5.4. Taxes and Charges.

          Duly pay and discharge, or cause to be paid and discharged, before the same shall become
delinquent, all federal, state or local Taxes, assessments, levies and other governmental charges,
imposed upon the Borrower or any of its Subsidiaries or their respective properties, sales and
activities, or any part thereof, or upon the income or profits therefrom, as well as all claims for
labor, materials, or supplies which if unpaid would reasonably be expected to result in a Material
Adverse Effect; provided, however, that any such Tax, assessment, charge, levy or
claim need not be paid if the validity or amount thereof shall currently be contested in good faith
by appropriate proceedings and if the Borrower shall have set aside on its books reserves (the
presentation of which is segregated to the extent required by GAAP) adequate with respect thereto
if reserves shall be deemed necessary by the Borrower in accordance with GAAP; and
provided, further, that the Borrower will pay all such Taxes, assessments, levies
or other governmental charges forthwith upon the commencement of proceedings to foreclose any
material Lien which may have attached as security therefor (unless the same is fully bonded or
otherwise effectively stayed).

          SECTION 5.5. ERISA Compliance and Reports.

          Furnish to the Administrative Agent: (a) as soon as possible, and in any event within 30 days
after any executive officer (as defined in Regulation C under the Securities Act of 1933) of the
Borrower actually knows that any ERISA Event with respect to any Plan has occurred, a statement of
the chief financial officer of the Borrower, setting forth details as to such ERISA Event and the
action which it proposes to take with respect thereto, together with a copy of the notice of such
ERISA Event, if any, required to be filed with the PBGC by the Borrower or any of its Subsidiaries;
(b) promptly after receipt thereof, a copy of any notice the Borrower or any of its Subsidiaries
may receive from the PBGC relating to the PBGC’s intention to terminate any Plan or to appoint a
trustee to administer any Plan; provided that the Borrower shall not be required to notify
the Administrative Agent of the occurrence of any of the events set forth in the preceding clauses
(a) and (b) unless such event, individually or in the aggregate, could reasonably be expected to
result in a Material Adverse Effect on the Borrower and its Subsidiaries

 

 

taken as a whole; or (c) promptly upon the reasonable request of the Administrative Agent,
copies of each annual and other report filed with the IRS, DOL or PBGC with respect to any Plan.

          SECTION 5.6. Maintenance of and Access to Books and Records; Examinations.

          Maintain or cause to be maintained at all times true and complete in all material respects
books and records of its financial operations (in accordance with GAAP) and provide the
Administrative Agent and its representatives reasonable access to all such books and records and to
any of their properties or assets during regular business hours and upon advance written notice
(provided that reasonable access to such books and records and to any of the Borrower’s
properties or assets shall be made available to the Lenders if an Event of Default has occurred and
is continuing), in order that the Administrative Agent may make such audits and examinations and
make abstracts from such books, accounts and records (in each case subject to the Borrower or its
Subsidiaries’ obligations under applicable confidentiality provisions) and may discuss the affairs,
finances and accounts with, and be advised as to the same by, officers and, so long as a
representative of the Borrower is present, independent accountants, all as the Administrative Agent
may deem appropriate for the purpose of verifying the various reports delivered pursuant to this
Agreement or for otherwise ascertaining compliance with this Agreement. Notwithstanding Section
10.4, unless any such visit or inspection is conducted after the occurrence and during the
continuance of a Default or an Event of Default, the Borrower shall not be required to pay any
costs or expenses incurred by the Administrative Agent, any Lender or any other Person in
connection with such visit or inspection.

          SECTION 5.7. Maintenance of Properties.

          Keep its properties which are material to its business in good repair, working order and
condition consistent with industry practice, ordinary wear and tear excepted, except where the
failure to do so would not reasonably be expected to have a Material Adverse Effect.

          SECTION 5.8. Changes in Character of Business.

          Cause the Borrower and its Subsidiaries taken as a whole to be primarily engaged in the
vacation ownership, vacation rental and exchange, lodging and franchising and services businesses.

6. NEGATIVE COVENANTS

          From the date of the initial Loan and for so long as the Revolving Commitments shall be in
effect or any amount shall remain outstanding or unpaid under this Agreement or there shall be any
outstanding L/C Exposure, unless the Required Lenders shall otherwise consent in writing, the
Borrower agrees that it will not, nor will it permit any of its Subsidiaries to, directly or
indirectly:

          SECTION 6.1. Limitation on Indebtedness.

          Incur, assume or suffer to exist any Indebtedness of any Material Subsidiary except:

          (a) Indebtedness in existence on the Closing Date, or required to be incurred pursuant to a
contractual obligation in existence on the Closing Date and any refinancing, extensions, renewals
or modifications thereof, so long as such refinancing, renewals, extensions or modifications (i) do
not result in an increase in the principal amount of the Indebtedness so refinanced, renewed,
extended or modified (other than increases to pay fees and expenses incurred in connection
therewith), and (ii) rank pari-passu with the Indebtedness being refinanced;

 

 

          (b) Indebtedness (including Capital Leases) incurred in connection with or as a component of
the purchase price of any property of any Material Subsidiary or that was existing on any property
acquired by such Material Subsidiary at the time of acquisition thereof by such Material Subsidiary
and assumed in connection with such acquisition (other than Indebtedness issued in connection with,
or in anticipation of, such acquisitions) or otherwise incurred to finance the acquisition,
construction or improvement of any property (including, without limitation, Indebtedness incurred
to finance the cost of acquisition or construction of such property within 24 months after such
acquisition or the completion of such improvement or construction); and any refinancing, extension
or renewals of such Indebtedness as long as such refinancing, extensions, renewals or modifications
(i) do not result in an increase in the principal amount of the Indebtedness so refinanced,
renewed, extended or modified (other than increases to pay fees and expenses incurred in connection
therewith), (ii) do not result in a change of the obligors in respect of such Indebtedness and
(iii) rank pari-passu with the Indebtedness being refinanced;

          (c) Guaranty Obligations;

          (d) Indebtedness owing by any Material Subsidiary to the Borrower or any other Subsidiary;

          (e) Indebtedness of any Material Subsidiary issued and outstanding prior to the date on which
such Person became a Subsidiary of the Borrower (other than Indebtedness issued in connection with,
or in anticipation of, such Person becoming a Subsidiary of the Borrower); provided that
immediately prior and on a Pro Forma Basis after giving effect to, such Person becoming a
Subsidiary of the Borrower, no Default or Event of Default shall occur or then be continuing and
the aggregate principal amount of such Indebtedness, when added to the aggregate outstanding
principal amount of Indebtedness permitted by paragraphs (f) and (g) below, shall not exceed the
greater of 15% of Consolidated Net Worth and $200,000,000;

          (f) any refinancing, renewal, extension or modification of Indebtedness under paragraph (e)
above so long as such refinancing, renewals, extensions or modifications (i) do not result in an
increase in the principal amount of the Indebtedness so refinanced, renewed, extended or modified
(other than increases to pay fees and expenses incurred in connection therewith), and (ii) rank
pari-passu with the Indebtedness being refinanced;

          (g) other Indebtedness of any Material Subsidiary in an aggregate principal amount which, when
added to the aggregate outstanding principal amount of Indebtedness permitted by paragraphs (e) and
(f) above, does not exceed the greater of 15% of Consolidated Net Worth and $200,000,000;

          (h) Securitization Indebtedness;

          (i) derivatives transactions entered into in the ordinary course of business pursuant to
hedging programs;

          (j) Indebtedness under the Landal Facilities in an aggregate principal amount not to exceed
$250,000,000;

          (k) Indebtedness under the WVRAP Facilities in an aggregate principal amount not to exceed
$200,000,000, provided that the amount of Indebtedness permitted under this Section 6.1(k)
shall be reduced in an equal amount by the amount of Securitization Indebtedness incurred by WVRAP
or any of its Subsidiaries;

 

 

          (l) Non-Recourse Indebtedness in an aggregate principal amount not to exceed $100,000,000;

          (m) Indebtedness of any Subsidiary issued and outstanding prior to the date on which such
Person became a Material Subsidiary (other than Indebtedness issued in connection with, or in
anticipation of, such Person becoming a Material Subsidiary) and any refinancing, renewal,
extension or modification of such Indebtedness so long as such refinancing, renewals, extensions or
modifications (i) do not result in an increase in the principal amount of the Indebtedness so
refinanced, renewed, extended, or modified (other than increases to pay fees and expenses incurred
in connection therewith) and (ii) rank pari-passu with the Indebtedness being refinanced; and

          (n) Indebtedness of any Loan Party pursuant to any Fundamental Document.

If the Material Subsidiary’s action or event meets the criteria of more than one of the types of
Indebtedness described in the clauses above, the Borrower in its sole discretion may classify such
action or event in one or more clauses (including in part under one such clause and in part under
another such clause).

          SECTION 6.2. Consolidation, Merger, Sale of Assets.

          (a) Neither the Borrower nor any of its Material Subsidiaries (in one transaction or series of
transactions) will wind up, liquidate or dissolve its affairs, or enter into any transaction of
merger or consolidation, except any merger, consolidation, dissolution or liquidation (i) in which
the Borrower is the surviving entity or if the Borrower is not a party to such transaction then a
Subsidiary is the surviving entity or the successor to the Borrower has unconditionally assumed in
writing all of the payment and performance obligations of the Borrower under this Agreement and the
other Fundamental Documents, (ii) in which the surviving entity becomes a Subsidiary of the
Borrower immediately upon the effectiveness of such merger, consolidation, dissolution or
liquidation, or (iii) involving a Subsidiary in connection with a transaction permitted by Section
6.2(b); provided, however, that immediately prior to and on a Pro Forma Basis after
giving effect to any such transaction described in any of the preceding clauses (i), (ii) and (iii)
no Default or Event of Default has occurred and is continuing.

          (b) The Borrower and its Material Subsidiaries (whether in one transaction or series of
related transactions) will not sell or otherwise dispose of all or substantially all of the assets
of the Borrower and its Subsidiaries, taken as a whole.

          SECTION 6.3. Limitations on Liens.

          Suffer any Lien on the property of the Borrower or any of the Material Subsidiaries, except:

          (a) Liens for taxes, assessments, governmental charges and other similar obligations not yet
due or which are being contested in good faith by appropriate proceedings;

          (b) Liens incidental to the conduct of its business or the ownership of its assets which were
not incurred in connection with the borrowing of money, and which do not in the aggregate
materially detract from the value of its assets or materially impair the use thereof in the
operation of its business;

          (c) Liens securing Indebtedness permitted by Section 6.1(b) if (i) such Liens secure
Indebtedness in an amount no greater than cost of the acquisition, construction or improvement of
such

 

 

property so financed (plus fees and expenses incurred in connection therewith); (ii) such
Liens do not extend to or cover any property of any Material Subsidiary other than the property so
acquired, constructed or improved and, in the case of tangible assets, other property which is an
improvement to or is acquired for specific use in connection with such acquired property or which
is property being improved by such acquired property and (iii) such transaction does not otherwise
violate this Agreement;

          (d) Liens upon real and/or personal property, which property was acquired after the Closing
Date (by purchase, construction or otherwise) by the Borrower or any of its Material Subsidiaries,
each of which Liens existed on such property before the time of its acquisition and was not created
in anticipation thereof; provided, however, that no such Lien shall extend to or
cover any property of the Borrower or such Material Subsidiary other than the respective property
so acquired and improvements thereon;

          (e) to the extent not covered by clause (b) above, Liens securing judgments which do not
constitute an Event of Default;

          (f) Liens created under any Fundamental Document;

          (g) Liens existing on the Closing Date and any extensions or renewals thereof;

          (h) Liens securing (or covering property constituting the source of payment for) any
Indebtedness permitted pursuant to clauses (d), (h), (j), (k) or (l) of Section 6.1;

          (i) to the extent not covered by clause (h) above, Liens on equity interests or other
securities issued by a Securitization Entity, securing (or covering property constituting the
source of payment for) Securitization Indebtedness; and

          (j) other Liens securing obligations having an aggregate principal amount not to exceed the
greater of 15% of Consolidated Net Worth and $200,000,000.

If the Borrower’s or the Material Subsidiary’s action or event meets the criteria of more than one
of the types of Liens described in the clauses above, the Borrower in its sole discretion may
classify such action or event in one or more clauses (including in part under one such clause and
in part under another such clause).

          SECTION 6.4. Sale and Leaseback.

          Enter into any arrangement with any Person or Persons, whereby in contemporaneous transactions
the Borrower or any of its Material Subsidiaries sells essentially all of its right, title and
interest in a material asset and the Borrower or any of its Material Subsidiaries acquires or
leases back the right to use such property except that the Borrower and its Subsidiaries may enter
into sale-leaseback transactions relating to assets not in excess of $150,000,000 in the aggregate
on a cumulative basis, and except any arrangements existing on the Closing Date, including but not
limited to sale-leaseback transactions existing under the Landal Facilities, and any renewals,
extensions or modifications thereof, or replacements or substitutions therefor, so long as such
renewals, extensions or modifications are effected on substantially the same terms or on terms
which, in the aggregate, are not more adverse to the Lenders in any material respect.

 

 

          SECTION 6.5. Consolidated Leverage Ratio.

          Permit the Consolidated Leverage Ratio for any Rolling Period ending after June 30, 2011 to be
greater than 3.75 to 1.0.

          SECTION 6.6. Consolidated Interest Coverage Ratio.

          Permit the Consolidated Interest Coverage Ratio for any Rolling Period ending after June 30,
2011 to be less than 3.0 to 1.0.

          SECTION 6.7. Accounting Practices.

          Establish a fiscal year ending on any date other than December 31, or modify or change
accounting treatments or reporting practices except as otherwise required or permitted by GAAP or
the SEC.

7. EVENTS OF DEFAULT

          In the case of the happening and during the continuance of any of the following events (herein
called “Events of Default”):

          (a) any representation or warranty made by the Borrower or any Subsidiary Borrower in this
Agreement or any other Fundamental Document or in connection with this Agreement or with the
Borrowings hereunder, or any statement or representation made in any report, financial statement,
certificate or other document furnished by or on behalf of the Borrower or any of its Subsidiaries
to the Administrative Agent or any Lender under or in connection with this Agreement, shall prove
to have been false or misleading in any material respect when made or delivered;

          (b) default shall be made in the payment of any principal of or interest on any Loan, any
reimbursement obligation with respect to Letters of Credit, or of any fees or other amounts payable
by the Borrower or any Subsidiary Borrower hereunder, when and as the same shall become due and
payable, whether at the due date thereof or at a date fixed for prepayment thereof or by
acceleration thereof or otherwise, and (i) in the case of payments of interest, Facility Fees and
fees payable under Section 2.26, such default shall continue unremedied for five days, and (ii) in
the case of payments other than of any principal amount of or interest on any Loan or any
reimbursement obligation with respect to Letters of Credit, Facility Fees and fees payable under
Section 2.26, such default shall continue unremedied for five days after written notice of
non-payment has been received by the Borrower or such Subsidiary Borrower from the Administrative
Agent;

          (c) default shall be made in the due observance or performance of any covenant, condition or
agreement contained in Section 5.1(e) (with respect to notice of Default or Events of Default) or
Section 6 of this Agreement;

          (d) default shall be made by the Borrower in the due observance or performance of any other
covenant, condition or agreement to be observed or performed pursuant to the terms of this
Agreement, or any other Fundamental Document and such default shall continue unremedied for thirty
days after notice has been given to the Borrower by the Administrative Agent of such default;

          (e) (i) default in payment shall be made with respect to any Indebtedness of the Borrower or
any of its Material Subsidiaries (other than Securitization Indebtedness) where the amount or
amounts of such Indebtedness exceeds $50,000,000 in the aggregate; or (ii) default in payment or

 

 

performance shall be made with respect to any Indebtedness of the Borrower or any of its Material
Subsidiaries (other than Securitization Indebtedness) where the amount or amounts of such
Indebtedness exceeds $50,000,000 in the aggregate, if the effect of such default is to result in
the acceleration of the maturity of such Indebtedness; or (iii) any other circumstance shall arise
(other than the mere passage of time) by reason of which the Borrower or any Material Subsidiary of
the Borrower is required to redeem or repurchase, or offer to holders the opportunity to have
redeemed or repurchased, any such Indebtedness (other than Securitization Indebtedness) where the
amount or amounts of such Indebtedness exceeds $50,000,000 in the aggregate; provided that
clause (iii) shall not apply to secured Indebtedness that becomes due as a result of a voluntary
sale of the property or assets securing such Indebtedness or Indebtedness that is redeemed or
repurchased at the option of the Borrower or any of its Material Subsidiaries; provided,
that clauses (ii) and (iii) shall not apply to any Indebtedness of any Subsidiary issued and
outstanding prior to the date such Subsidiary became a Material Subsidiary of the Borrower (other
than Indebtedness issued in connection with, or in anticipation of, such Subsidiary becoming a
Material Subsidiary of the Borrower) if such default or circumstance arises solely as a result of a
“change of control” provision applicable to such Indebtedness which becomes operative as a result
of the acquisition of such Subsidiary by the Borrower or any of its Subsidiaries; and
provided, further, that in the case of any derivative transaction described in
Section 6.1(i), each reference in this clause (e) to the amount of $50,000,000 shall mean the
amount payable by the Borrower or any of its Material Subsidiaries in connection with a default or
“other circumstance” described in clause (i), (ii) or (iii) and not to the notional amount of such
derivative transaction;

          (f) the Borrower or any of its Material Subsidiaries shall generally not pay its debts as they
become due or shall admit in writing its inability to pay its debts, or shall make a general
assignment for the benefit of creditors; or the Borrower or any of its Material Subsidiaries shall
commence any case, proceeding or other action seeking to have an order for relief entered on its
behalf as debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law
relating to bankruptcy, insolvency, reorganization or relief of debtors or seeking appointment of a
receiver, trustee, custodian or other similar official for it or for all or any substantial part of
its property or shall file an answer or other pleading in any such case, proceeding or other action
admitting the material allegations of any petition, complaint or similar pleading filed against it
or consenting to the relief sought therein; or the Borrower or any Material Subsidiary thereof
shall take any action to authorize any of the foregoing;

          (g) any involuntary case, proceeding or other action against the Borrower or any of its
Material Subsidiaries shall be commenced seeking to have an order for relief entered against it as
debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement,
adjustment, liquidation, dissolution or composition of it or its debts under any law relating to
bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a receiver,
trustee, custodian or other similar official for it or for all or any substantial part of its
property, and such case, proceeding or other action (i) results in the entry of any order for
relief against it or (ii) shall remain undismissed for a period of sixty days;

          (h) the occurrence of a Change in Control;

          (i) final judgment(s) for the payment of money in excess of $50,000,000 (to the extent not
paid or covered by insurance) shall be rendered against the Borrower or any of its Material
Subsidiaries which within thirty days from the entry of such judgment shall not have been
discharged or stayed pending appeal or which shall not have been discharged within thirty days from
the entry of a final order of affirmance on appeal; or

 

 

          (j) an ERISA Event shall have occurred that, when taken together with all other ERISA Events
that have occurred (with respect to which the Borrower has a liability which has not yet been
satisfied), would result in a Material Adverse Effect;

then, in every such event and at any time thereafter during the continuance of such event, the
Administrative Agent may or shall, if directed by the Required Lenders, take either or both of the
following actions, at the same or different times: terminate forthwith the Revolving Commitments
and/or declare the principal of and the interest on the Loans and all other amounts payable
hereunder or thereunder to be forthwith due and payable, whereupon the same shall become and be
forthwith due and payable, without presentment, demand, protest, notice of acceleration, notice of
intent to accelerate or other notice of any kind, all of which are hereby expressly waived,
anything in this Agreement to the contrary notwithstanding. If an Event of Default specified in
paragraphs (f) or (g) above shall have occurred, the principal of and interest on the Loans and all
other amounts payable hereunder or thereunder shall thereupon and concurrently become due and
payable without presentment, demand, protest, notice of acceleration, notice of intent to
accelerate or other notice of any kind, all of which are hereby expressly waived, anything in this
Agreement to the contrary notwithstanding and the Revolving Commitments of the Lenders shall
thereupon forthwith terminate. Upon acceleration of payment of the Loans, all obligations under
this Agreement denominated in currencies other than Dollars shall, at the option of the
Administrative Agent, be converted to Dollars in accordance with this Agreement.

8. THE ADMINISTRATIVE AGENT AND EACH ISSUING LENDER

          SECTION 8.1. Administration by Administrative Agent.

          The general administration of the Fundamental Documents and any other documents contemplated
by this Agreement shall be by the Administrative Agent or its designees. Each of the Lenders
hereby irrevocably authorizes the Administrative Agent, at its discretion, to take or refrain from
taking such actions as agent on its behalf and to exercise or refrain from exercising such powers
under the Fundamental Documents and any other documents contemplated by this Agreement as are
delegated by the terms hereof or thereof, as appropriates together with all powers reasonably
incidental thereto. The Administrative Agent shall have no duties or responsibilities except as
set forth in the Fundamental Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default or Event of Default has occurred and is continuing, (b) the Administrative Agent
shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby that the Administrative Agent
is required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
10.9), and (c) except as expressly set forth herein, the Administrative Agent shall not have any
duty to disclose, and shall not be liable for the failure to disclose, any information relating to
the Borrower or any of its Subsidiaries or Affiliates that is communicated to or obtained by the
bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative
Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 10.9) or in the absence of its own gross
negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge
of any Default unless and until written notice thereof is given to the Administrative Agent by the
Borrower, any Subsidiary Borrower or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement, (ii) the contents of any certificate,
report or other document delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv)
the validity, enforceability, effectiveness or genuineness of this

 

 

Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Section 4
or elsewhere herein. Any Lender which is not the Administrative Agent (regardless of whether such
Lender bears the title of any other Agent or any similar title, as indicated on the signature pages
hereto) for the credit facility hereunder shall not have any duties or responsibilities except as a
Lender hereunder.

          SECTION 8.2. Advances and Payments.

          (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated)
to advance, for the account of each of the Lenders, the amount of the Loan to be made by it in
accordance with this Agreement. Each of the Lenders hereby authorizes and requests the
Administrative Agent to advance for its account, pursuant to the terms hereof, the amount of the
Loan to be made by it, unless with respect to any Lender, such Lender has theretofore specifically
notified the Administrative Agent that such Lender does not intend to fund that particular Loan.
Each of the Lenders agrees forthwith to reimburse the Administrative Agent in immediately available
funds for the amount so advanced on its behalf by the Administrative Agent pursuant to the
immediately preceding sentence. If any such reimbursement is not made in immediately available
funds on the same day on which the Administrative Agent shall have made any such amount available
on behalf of any Lender in accordance with this Section 8.2, such Lender shall pay interest to the
Administrative Agent at a rate per annum equal to the
Administrative Agent’s cost of obtaining overnight funds in the New York Federal Funds Market.
Notwithstanding the preceding sentence, if such reimbursement is not made by the second Business
Day following the day on which the Administrative Agent shall have made any such amount available
on behalf of any Lender or such Lender has indicated that it does not intend to reimburse the
Administrative Agent, the Borrower or the relevant Subsidiary Borrower shall immediately pay such
unreimbursed advance amount (plus any accrued, but unpaid interest at the rate applicable to ABR
Loans) to the Administrative Agent.

          (b) Any amounts received by the Administrative Agent in connection with this Agreement the
application of which is not otherwise provided for shall be applied, in accordance with each of the
Lenders’ pro rata interest therein where applicable, first, to pay amounts payable to the
Administrative Agent and the Issuing Lenders, second, to pay accrued but unpaid Facility Fees,
third, to pay accrued but unpaid interest on the Loans and letter of credit commissions, fourth, to
pay the principal balance outstanding on the Loans and unpaid reimbursement obligations in respect
of Letters of Credit and fifth to pay other amount payable to the Leaders. All amounts to be paid
to any of the Lenders by the Administrative Agent shall be credited to the Lenders, promptly after
collection by the Administrative Agent, in immediately available funds either by wire transfer or
deposit in such Lender’s correspondent account with the Administrative Agent, or as such Lender and
the Administrative Agent shall from time to time agree.

          SECTION 8.3. Sharing of Setoffs and Cash Collateral.

          Each of the Lenders agrees that if it shall, through the operation of Sections 2.21, 2.26(g)
or 2.26(h) hereof or the exercise of a right of bank’s lien, setoff or counterclaim against the
Borrower or any Subsidiary Borrower, including, but not limited to, a secured claim under Section
506 of Title 11 of the United States Code or other security or interest arising from, or in lieu
of, such secured claim and received by such Lender under any applicable bankruptcy, insolvency or
other similar law, or otherwise, obtain payment in respect of its Revolving Credit Loans, Revolving
L/C Exposure or Swingline Participation Amounts as a result of which the unpaid portion of its
Revolving Credit Loans, Revolving L/C Exposure or Swingline Participation Amounts, as applicable,
is proportionately less than the unpaid portion of any of the other Lenders (a) it shall promptly
purchase at par (and shall be deemed to have thereupon purchased) from such other Lenders a
participation in the Revolving Credit Loans, Revolving

 

 

L/C Exposure or Swingline Participation
Amounts, as applicable, of such other Lenders, so that the aggregate unpaid principal amount of
each of the Lenders’ Revolving Credit Loans, Revolving L/C Exposure and Swingline Participation
Amounts and its participation in Revolving Credit Loans, Revolving L/C Exposure and Swingline
Participation Amounts of the other Lenders shall be in the same proportion to the aggregate unpaid
principal amount of all Revolving Credit Loans, Revolving L/C Exposure and Swingline Participation
Amounts then outstanding as the principal amount of its Revolving Credit Loans, Revolving L/C
Exposure and Swingline Participation Amounts prior to the obtaining of such payment was to the
principal amount of all Revolving Credit Loans, Revolving L/C Exposure and Swingline Participation
Amounts outstanding prior to the obtaining of such payment and (b) such other adjustments shall be
made from time to time as shall be equitable to ensure that the Lenders share such payment pro
rata.

          SECTION 8.4. Notice to the Lenders.

          Upon receipt by the Administrative Agent from the Borrower or any Subsidiary Borrower of any
communication calling for an action on the part of the Lenders, or upon notice to the
Administrative Agent of any Event of Default, the Administrative Agent will in turn immediately
inform
the other Lenders (including any Issuing Lender) in writing (which shall include telegraphic
communications) of the nature of such communication or of the Event of Default, as the case may be.

          SECTION 8.5. Liability of Administrative Agent and each Issuing Lender.

          (a) The Administrative Agent or any Issuing Lender, when acting on behalf of the Lenders may
execute any of its duties under this Agreement by or through its officers, agents, or employees and
neither the Administrative Agent, the Issuing Lenders nor their respective directors, officers,
agents, or employees shall be liable to the Lenders or any of them for any action taken or omitted
to be taken in good faith, or be responsible to the Lenders or to any of them for the consequences
of any oversight or error of judgment, or for any loss, unless the same shall happen through its
gross negligence or willful misconduct as determined by a final and non-appealable judgment of a
court of competent jurisdiction. The Administrative Agent, the Issuing Lenders and their
respective directors, officers, agents, and employees shall in no event be liable to the Lenders or
to any of them for any action taken or omitted to be taken by it pursuant to instructions received
by it from the Required Lenders or in reliance upon the advice of counsel selected by it. Without
limiting the foregoing, neither the Administrative Agent, the Issuing Lenders nor any of their
respective directors, officers, employees, or agents shall be responsible to any of the Lenders for
the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for
any statement, warranty, or representation in, or for the perfection of any security interest
contemplated by, this Agreement or any related agreement, document or order, or for the designation
or failure to designate this transaction as a “Highly Leveraged Transaction” for regulatory
purposes, or shall be required to ascertain or to make any inquiry concerning the performance or
observance by the Borrower or any Subsidiary Borrower of any of the terms, conditions, covenants,
or agreements of this Agreement or any related agreement or document.

          (b) Neither the Administrative Agent, the Issuing Lenders, nor any of their respective
directors, officers, employees, or agents shall have any responsibility to the Borrower or any
Subsidiary Borrower on account of the failure or delay in performance or breach by any of the
Lenders or the Borrower or any Subsidiary Borrower of any of their respective obligations under
this Agreement or any related agreement or document or in connection herewith or therewith.

          (c) The Administrative Agent, and the Issuing Lenders, in such capacities hereunder, shall be
entitled to rely on any communication, instrument, or document reasonably believed by it to be
genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the
proper

 

 

Person or Persons, and it shall be entitled to rely on advice of legal counsel, independent
public accountants, and other professional advisers and experts selected by it.

          SECTION 8.6. Reimbursement and Indemnification.

          Each of the Lenders severally and not jointly agrees (to the extent not reimbursed or
otherwise paid by the Borrower or any Subsidiary Borrower (pursuant to Section 10.4 or 10.5
hereof)) (i) to reimburse the Administrative Agent, the Syndication Agent and the Bookrunners in
the amount of its Aggregate Exposure Percentage, for any expenses and fees incurred for the benefit
of the Lenders under the Fundamental Documents, including, without limitation, counsel fees and
compensation of agents and employees paid for services rendered on behalf of the Lenders, and any
other expense incurred in connection with the administration or enforcement thereof; (ii) to
indemnify and hold harmless the Administrative Agent, the Syndication Agent and the Bookrunners and
any of their respective directors, officers, employees, or agents, on demand, in the amount of its
Aggregate Exposure Percentage, from and against any and all liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses, or disbursements of any kind or
nature whatsoever which may be imposed on, incurred by, or
asserted against it or any of them in any way relating to or arising out of the Fundamental
Documents or any action taken or omitted by it or any of them under the Fundamental Documents to
the extent not reimbursed by the Borrower or one of its Subsidiaries (including any Subsidiary
Borrower) (except such as shall result from the gross negligence or willful misconduct of the
Person seeking indemnification as determined by a final and non-appealable judgment of a court of
competent jurisdiction); and (iii) to indemnify and hold harmless the Issuing Lenders and any of
their respective directors, officers, employees, or agents or demand in the amount of its
proportionate share from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs expenses or disbursements of any kind or nature
whatever which may be imposed or incurred by or asserted against it relating to or arising out of
the issuance of any Letters of Credit not reimbursed by the Borrower or one of its Subsidiaries
(including any Subsidiary Borrower) (except such as shall result from the gross negligence or
willful misconduct of the Person seeking indemnification as determined by a final and
non-appealable judgment of a court of competent jurisdiction).

          SECTION 8.7. Rights of Administrative Agent.

          It is understood and agreed that Bank of America shall have the same rights and powers
hereunder (including the right to give such instructions) as the other Lenders and may exercise
such rights and powers, as well as its rights and powers under other agreements and instruments to
which it is or may be party, and engage in other transactions with the Borrower or any Subsidiary
(including any Subsidiary Borrower) or other Affiliate thereof as though it were not the
Administrative Agent on behalf of the Lenders under this Agreement.

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent; provided
that no such delegation shall limit or reduce in any way the Administrative Agent’s duties and
obligations to the Borrower or any Subsidiary Borrower under this Agreement. The Administrative
Agent and any such sub-agent, and any Affiliate of the Administrative Agent or any such sub-agent,
may perform any and all its duties and exercise its rights and powers through their respective
directors, officers, employees, agents and advisors. The exculpatory provisions of Section 8.5
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.

 

 

          SECTION 8.8. Independent Investigation by Lenders.

          Each of the Lenders acknowledges that it has decided to enter into this Agreement and to make
the Loans and issue and participate in the Letters of Credit hereunder, and will continue to make
such decisions, based on its own analysis of the transactions contemplated hereby, based on such
documents and other information as it has deemed appropriate and on the creditworthiness of the
Borrower and agrees that neither the Administrative Agent nor any Issuing Lender shall bear
responsibility therefor.

          SECTION 8.9. Notice of Transfer.

          The Administrative Agent and the Issuing Lenders may deem and treat any Lender which is a
party to this Agreement as the owners of such Lender’s respective portions of the Loans and Letter
of Credit reimbursement rights for all purposes, unless and until a written notice of the
assignment or transfer thereof executed by any such Lender shall have been received by the
Administrative Agent and become effective pursuant to Section 10.3.

          SECTION 8.10. Successor Administrative Agent.

          The Administrative Agent may at any time give notice of its resignation to the Lenders, the
Issuing Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required
Lenders shall have the right to appoint a successor, which successor shall (i) unless an Event of
Default has occurred and is continuing, be approved in writing by the Borrower and (ii) be a bank
with an office in the United States, or an Affiliate of any such bank with an office in the United
States. If no such successor shall have been so appointed by the Required Lenders (and approved by
the Borrower, if applicable) and shall have accepted such appointment within 30 days after the
retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may on behalf of the Lenders and the Issuing Lenders, appoint a successor Administrative
Agent meeting the qualifications set forth in clauses (i) and (ii) of the prior sentence;
provided that if the Administrative Agent shall notify the Borrower and the Lenders that no
qualifying Person has accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (1) the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder and under the other Fundamental Documents
(except that in the case of any collateral security held by the Administrative Agent on behalf of
the Lenders or the Issuing Lenders under any of the Fundamental Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and (2) all payments, communications and determinations provided
to be made by, to or through the Administrative Agent shall instead be made by or to each Lender
and the Issuing Lenders directly, until such time as the Required Lenders appoint a successor
Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative
Agent, and the retiring Administrative Agent shall be discharged from all of its duties and
obligations hereunder or under the other Fundamental Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor
Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the retiring Administrative Agent’s resignation
hereunder and under the other Fundamental Documents, the provisions of this Section 8, Section 10.4
and Section 10.5 shall continue in effect for the benefit of such retiring Administrative Agent,
its sub-agents and their respective Related Parties in respect of any actions taken or omitted to
be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent

 

 

          SECTION 8.11. Resignation of an Issuing Lender or the Swingline Lender.

          (a) Any Issuing Lender may resign at any time by giving written notice thereof to the Lenders
and the Borrower. Upon any such resignation, such Issuing Lender shall be discharged from any
duties and obligations under this Agreement in its capacity as an Issuing Lender with regard to
Letters of Credit not yet issued. After any retiring Issuing Lender’s resignation hereunder as an
Issuing Lender, the provisions of this Agreement shall continue to inure to its benefit as to any
outstanding Letters of Credit or otherwise with regard to outstanding L/C Exposure and any actions
taken or omitted to be taken by it while it was an Issuing Lender under this Agreement.

          (b) If Bank of America at any time ceases to have a Revolving Commitment, whether as a result
of an assignment of its Revolving Commitment or otherwise, then immediately upon the occurrence
thereof (i) Bank of America shall be discharged from all of its duties and obligations hereunder
and under the other Fundamental Documents in its capacity as Swingline Lender and (ii) all
outstanding Swingline Loans shall become payable within one (1) Business Day of receipt of notice
by the Borrower of such assignment. Following any such discharge of Bank of America’s duties and
obligations as Swingline Lender pursuant to the prior sentence and the payment in full of all
Swingline Loans then owing to Bank of America, the Borrower shall have the right to appoint a
Lender (other than any Defaulting Lender) to act as successor Swingline Lender, which proposed
successor shall (i) be consented to in writing by the Administrative Agent (such consent not to be
unreasonably withheld) and (ii) if such proposed successor desires to become the Swingline Lender,
notify the Administrative Agent and the Borrower in writing that it has accepted such appointment
and that it will act as Swingline Lender in accordance with the terms of this Agreement.

          SECTION 8.12. Agents Generally.

          Except as expressly set forth herein, neither any Agent nor any joint lead arranger or joint
bookrunner listed on the cover page hereof shall have any powers, duties or responsibilities
hereunder or under any other Fundamental Document in its capacity as such; and shall incur no
liability, under this Agreement and the other Fundamental Documents.

9. GUARANTY OF SUBSIDIARY BORROWER OBLIGATIONS

          SECTION 9.1. Guaranty.

          (a) The Borrower hereby unconditionally and irrevocably guaranties to the Administrative
Agent, for the ratable benefit of the Lenders and their respective successors, indorsees,
transferees and assigns, the prompt and complete payment and performance by any Subsidiary Borrower
when due (whether at the stated maturity, by acceleration or otherwise) of the Subsidiary Borrower
Obligations.

          (b) The Borrower further agrees to pay any and all expenses (including, without limitation,
all fees and disbursements of counsel) which may be paid or incurred by the Administrative Agent,
any Issuing Lender or any Lender in enforcing, or obtaining advice of counsel in respect of, any
rights with respect to, or collecting, any or all of the Subsidiary Borrower Obligations and/or
enforcing any rights with respect to, or collecting against, any Subsidiary Borrower under this
Guaranty; provided, however, that the Borrower shall not be liable for the fees and
expenses of more than one separate firm for the Lenders or any Issuing Lender (unless there shall
exist an actual conflict of interest among such Persons, and in such case, not more than two
separate firms) in connection with any one such action or any separate, but substantially similar
or related actions in the same jurisdiction, nor shall the Borrower be liable for any settlement or
proceeding effected without the Borrower’s written consent. This Guaranty

 

 

shall remain in full
force and effect until the Subsidiary Borrower Obligations are paid in full, all Letters of Credit
are cancelled, expired or Cash Collateralized, and the Revolving Commitments are terminated.

          (c) No payment or payments made by any Subsidiary Borrower or any other Person or received or
collected by the Administrative Agent or any Lender from any Subsidiary Borrower or any other
Person by virtue of any action or proceeding or any set-off or appropriation or application, at any
time or from time to time, in reduction of or in payment of the Subsidiary Borrower Obligations
shall be deemed to modify, reduce, release or otherwise affect the liability of the Borrower
hereunder which shall, notwithstanding any such payment or payments (other than payments made by
the Borrower in respect of the Subsidiary Borrower Obligations or payments received or collected
from the Borrower in respect of the Subsidiary Borrower Obligations), remain liable for the
Subsidiary Borrower Obligations until the Subsidiary Borrower Obligations are paid in full, all
Letters of Credit are cancelled, expired or Cash Collateralized, and the Revolving Commitments are
terminated.

          (d) The Borrower agrees that whenever, at any time, or from time to time, it shall make any
payment to the Administrative Agent or any Lender on account of its liability hereunder, it will
notify the Administrative Agent and such Lender in writing that such payment is made under this
Guaranty for such purpose.

          SECTION 9.2. No Subrogation.

          Notwithstanding any payment or payments made by the Borrower hereunder, or any set-off or
application of funds of the Borrower by the Administrative Agent or any Lender, the Borrower shall
not be entitled to be subrogated to any of the rights of the Administrative Agent or any Lender
against any Subsidiary Borrower or against any collateral security or Guaranty or right of offset
held by the Administrative Agent or any Lender for the payment of the Subsidiary Borrower
Obligations, nor shall the Borrower seek or be entitled to seek any contribution or reimbursement
from any Subsidiary Borrower in respect of payments made by the Borrower hereunder, until all
amounts owing to the Administrative Agent and the Lenders by any Subsidiary Borrower on account of
the Subsidiary Borrower Obligations are paid in full, all Letters of Credit are cancelled, expired
or Cash Collateralized, and the Revolving Commitments are terminated. If any amount shall be paid
to the Borrower on account of such subrogation rights at any time when all of the Subsidiary
Borrower Obligations shall not have been paid in full, such amount shall be held by the Borrower in
trust for the Administrative Agent and the Lenders, segregated from other funds of the Borrower,
and shall, forthwith upon receipt by the Borrower, be turned over to the Administrative Agent in
the exact form received by the Borrower (duly indorsed by the Borrower to the Administrative Agent,
if required), to be applied against the Subsidiary Borrower Obligations, whether matured or
unmatured, in such order as the Administrative Agent may determine.

          SECTION 9.3. Amendments, etc. with respect to the Obligations; Waiver of Rights.

          The Borrower shall remain obligated hereunder notwithstanding that, without any reservation of
rights against the Borrower, and without notice to or further assent by the Borrower, any demand
for payment of any of the Subsidiary Borrower Obligations made by the Administrative Agent or any
Lender may be rescinded by the Administrative Agent or such Lender, and any of the Subsidiary
Borrower Obligations continued, and the Subsidiary Borrower Obligations, or the liability of any
other party upon or for any part thereof, or any collateral security or guaranty therefor or right
of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended,
amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative
Agent or any Lender, and this Agreement and any other documents executed and delivered in
connection herewith may be amended, modified, supplemented or terminated, in whole or in part, as
the Administrative Agent (or the requisite Lenders, as the case may be) may deem advisable from
time to time, and any collateral security,

 

 

guaranty or right of offset at any time held by the
Administrative Agent or any Lender for the payment of the Subsidiary Borrower Obligations may be
sold, exchanged, waived, surrendered or released. Neither the Administrative Agent nor any Lender
shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as
security for the Subsidiary Borrower Obligations or for the Guaranty under this Section 9 or any
property subject thereto. When making any demand hereunder against the Borrower, the
Administrative Agent or any Lender may, but shall be under no obligation to, make a similar demand
on any Subsidiary Borrower, and any failure by the Administrative Agent or any Lender to make any
such demand or to collect any payments from any Subsidiary Borrower or any release of any
Subsidiary Borrower shall not relieve the Borrower of its obligations or liabilities hereunder, and
shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of
the Administrative Agent or any Lender against the Borrower. For the purposes hereof “demand”
shall include the commencement and continuance of any legal proceedings.

          SECTION 9.4. Guaranty Absolute and Unconditional.

          The Borrower waives any and all notice of the creation, renewal, extension or accrual of any
of the Subsidiary Borrower Obligations and notice of or proof of reliance by the Administrative
Agent or any Lender upon this Guaranty or acceptance of the Guaranty under this Section 9, the
Subsidiary Borrower Obligations, and any of them, shall conclusively be deemed to have been
created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the
Guaranty under this Section 9 and all dealings between any Subsidiary Borrower and the Borrower, on
the one hand, and the Administrative Agent and the Lenders, on the other, shall likewise be
conclusively presumed to have been had or consummated in reliance upon the Guaranty under this
Section 9. The Borrower waives diligence, presentment, protest, demand for payment and notice of
default or nonpayment to or upon any Subsidiary Borrower or the Borrower with respect to the
Subsidiary Borrower Obligations. The Guaranty under this Section 9 shall be construed as a
continuing, absolute and unconditional guaranty of payment without regard to (a) the validity or
enforceability of this Agreement, any of the Subsidiary Borrower Obligations or any other
collateral security therefor or guaranty or right of offset with respect thereto at any time or
from time to time held by the Administrative Agent or any Lender, (b) any defense, set-off or
counterclaim (other than a defense of payment or performance) which may at any time be available to
or be asserted by any Subsidiary Borrower against the Administrative Agent or any Lender, or (c)
any other circumstance whatsoever (with or without notice to or knowledge of such Subsidiary
Borrower or the Borrower) which constitutes, or might be construed to constitute, an equitable or
legal discharge of Subsidiary Borrower for its Subsidiary Borrower Obligations, or of the Borrower
under the guaranty under this Section 9, in bankruptcy or in any other instance. When pursuing its
rights and remedies hereunder against the Borrower, the Administrative Agent and any Lender may,
but shall be under no obligation to, pursue such rights and remedies as it may have against any
Subsidiary Borrower or any other Person or against any collateral security or guaranty for the
Subsidiary Borrower Obligations or any right of offset with respect thereto, and any failure by the
Administrative Agent or any Lender to pursue such other rights or remedies or to collect any
payments from any Subsidiary Borrower or any such other Person or to realize upon any such
collateral security or guaranty or to exercise any such right of offset, or any release of
Subsidiary Borrower or any such other Person or of any such collateral security, guaranty or right
of offset, shall not relieve the Borrower of any liability hereunder, and shall not impair or
affect the rights and remedies, whether express, implied or available as a matter of law, of the
Administrative Agent or any Lender against such Subsidiary Borrower. The Guaranty under this
Section 9 shall remain in full force and effect and be binding in accordance with and to the extent
of its terms upon the Borrower and its successors and assigns thereof, and shall inure to the
benefit of the Administrative Agent and the Lenders, and their respective successors, indorsees,
transferees and assigns, until all the Subsidiary Borrower Obligations and the obligations of the
Borrower under the Guaranty under this Section 9 shall have been satisfied by payment in full, all
Letters of Credit are cancelled, expired or Cash Collateralized,

 

 

and the Revolving Commitments
shall be terminated, notwithstanding that from time to time during the term of this Agreement any
Subsidiary Borrower may be free from any Subsidiary Borrower Obligations.

          SECTION 9.5. Reinstatement.

          The Guaranty under this Section 9 shall continue to be effective, or be reinstated, as the
case may be, if at any time payment, or any part thereof, of any of the Subsidiary Borrower
Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or
any Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of any
Subsidiary Borrower or upon or as a result of the appointment of a receiver, intervenor or
conservator of, or trustee or similar officer for, any Subsidiary Borrower or any substantial part
of its property, or otherwise, all as though such payments had not been made.

10. MISCELLANEOUS

          SECTION 10.1. Notices.

          (a) Notices and other communications provided for herein shall be in writing and shall be
delivered or mailed (or in the case of telegraphic communication, if by telegram, delivered to the
telegraph company and, if by telex, telecopy, graphic scanning or other telegraphic communications
equipment of the sending party hereto, delivered by such equipment) addressed as follows:

          (i) if to the Administrative Agent with regards to advances, payments or competitive
bids, to it at Bank of America, N.A., 901 Main Street, 14th Floor, Dallas, TX
75202, Attention of Nora Taylor (Telephone No. (214)-209-0592; Facsimile No.
(214)-290-9673, with a copy to Kaye Scholer LLP, 425 Park Avenue, New York, NY 10022,
Attention of Ed Gabbay (Facsimile No. (212)-836-6476);

          (ii) if to the Administrative Agent with regards to financials and other notices, to
it at Bank of America, N.A., 901 Main Street, 14th Floor, Dallas, TX 75202, Attention of
Lesa Butler (Telephone No. (214)-209-1506; Facsimile No. (214)-209-0085, with a copy to
Bank of America, N.A., 901 Main Street, 14th Floor, Dallas, TX 75202, Attention of Henry
Pennell (Telephone No. (214)-209-1226; Facsimile No. (214)-290-9448 and with a copy to
Kaye Scholer LLP, 425 Park Avenue, New York, NY 10022, Attention of Ed Gabbay (Facsimile
No. (212)-836-6476);

          (iii) if to the Borrower, to it at 22 Sylvan Way, Parsippany, NJ 07054, Attention of
Corporate Secretary (Facsimile No. 973-496-1127) and Treasurer (Facsimile No.
973-496-1192), with a copy to Kirkland & Ellis LLP, 601 Lexington Avenue, New York, NY
10022, Attention of Jason Kanner (Facsimile No. 212-446-4900);

          (iv) if to a Subsidiary Borrower, to it c/o the Borrower at 22 Sylvan Way,
Parsippany, NJ 07054, Attention of Corporate Secretary (Facsimile No. 973-496-1127) and
Treasurer (Facsimile No. 973-496-1192), with a copy to Kirkland & Ellis LLP, 601 Lexington
Avenue, New York, NY 10022, Attention of Jason Kanner (Facsimile No. 212-446-4900);

          (v) if to a Lender, to it at its address notified to the Administrative Agent (or set
forth in its Assignment and Acceptance or other agreement pursuant to which it became a
Lender hereunder); and

 

 

          (vi) if to Bank of America, N.A., in its capacity as Issuing Lender, to it at Bank of
America, N.A., 901 Main Street, 64th Floor, Dallas, TX 75202, Attention of Dail
Mengelkoch (Telephone No. (214)-209-9049; Facsimile No. (214)-672-8719, with a copy to
Kaye Scholer LLP, 425 Park Avenue, New York, NY 10022, Attention of Ed Gabbay
(Facsimile No. (212)-836-6476);

          (vii) if to the Administrative Agent in its capacity as a Swingline Lender, to it at
Bank of America, N.A., 901 Main Street, 14th Floor, Dallas, TX 75202, Attention
of Nora Taylor (Telephone No. (214)-209-0592; Facsimile No. (214)-290-9673, with a copy to
Kaye Scholer LLP, 425 Park Avenue, New York, NY 10022, Attention of Ed Gabbay (Facsimile
No. (212)-836-6476);

          (viii) or if to any other Issuing Lender, at the address for notices as such Issuing
Lender provides in accordance with this Section 10.1;

or such other address as such party may from time to time designate by giving written notice
to the other parties hereunder.

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

          (c) Notices and other communication to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to Section 2 unless
otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent,
the Borrower and any Subsidiary Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it;
provided that approval of such procedures may be limited to particular notices or
communications.

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

          (e) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE ADMINISTRATIVE AGENT PARTY IN CONNECTION
WITH THE BORROWER MATERIALS OR THE PLATFORM. In no

 

 

event shall the Administrative Agent or any of
its Related Parties (collectively, the “Agent Parties”) have any liability to any Loan
Party, any Lender, any Issuing Lender or any other Person for losses, claims,
damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising
out of any Loan Party’s or the Administrative Agent’s transmission of Borrower Materials through
the Internet, In addition, in no event shall the Administrative Agent Party have any liability to
any Loan Party, any Lender, any Issuing Lender or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages).

          SECTION 10.2. Survival of Agreement, Representations and Warranties, etc.

          All warranties, representations and covenants made by the Borrower or any Subsidiary Borrower
herein or in any certificate or other instrument delivered by it or on its behalf in connection
with this Agreement shall be considered to have been relied upon by the Administrative Agent and
the Lenders and shall survive the making of the Loans herein contemplated regardless of any
investigation made by the Administrative Agent or the Lenders or on their behalf and shall continue
in full force and effect so long as any amount due or to become due hereunder is outstanding and
unpaid and so long as the Revolving Commitments have not been terminated. All statements in any
such certificate or other instrument shall constitute representations and warranties by the
Borrower or such Subsidiary Borrower hereunder.

          SECTION 10.3. Successors and Assigns; Syndications; Loan Sales; Participations.

          (a) Whenever in this Agreement any of the parties hereto is referred to, such reference shall
be deemed to include the successors and assigns of such party (provided, however,
that neither Borrower nor any Subsidiary Borrower may assign its rights hereunder without the prior
written consent of all the Lenders), and all covenants, promises and agreements by, or on behalf
of, the Borrower or any Subsidiary Borrower which are contained in this Agreement shall inure to
the benefit of the successors and assigns of the Lenders.

          (b) Each of the Lenders may assign to an Eligible Assignee all or a portion of its interests,
rights and obligations under this Agreement (including, without limitation, all or a portion of its
Revolving Commitment and the same portion of the Revolving Credit Loans at the time owing to it and
its Revolving L/C Exposure); provided, however, that (1) each assignment shall be
of a constant, and not a varying, percentage of all of the assigning Lender’s rights and
obligations in respect of the Revolving Loans, L/C Exposure and the Revolving Commitment which are
the subject of such assignment, (2) the amount of the Revolving Commitment of the assigning Lender
subject to each such assignment (determined as of the date the Assignment and Acceptance with
respect to such assignment is delivered to the Lender) shall be in a minimum principal amount of
$5,000,000 (or, if less, the remaining portion of the assigning Lender’s rights and obligations
under this Agreement) unless otherwise agreed by the Borrower and the Administrative Agent, (3) the
parties to each such assignment shall execute and deliver to the Administrative Agent, for its
acceptance and recording in the Register (as defined below), an Assignment and Acceptance, together
with a processing and recordation fee of $3,500 and (4) no Lender shall assign or sell
participations of all or a portion of its interest in a Loan to any Person who is (A) listed on the
Specially Designated Nationals and Blocked Persons List (the “SDN List”) maintained by the
U.S. Department of Treasury Office of Foreign Assets Control (“OFAC”) and/or on any other
similar list maintained by the OFAC pursuant to any authorizing statute, Executive Order or
regulation; or (B) included within the term “designated national” as defined in the Cuban Assets
Control Regulations, 31 C.F.R. Part 515. Upon such execution, delivery, acceptance and recording,
and from and after the effective date specified in each Assignment and Acceptance, which effective
date shall be not earlier than five Business Days (or such shorter period approved by the
Administrative Agent) after the date of acceptance and recording by the Administrative Agent, (x)
the assignee thereunder shall be a party hereto

 

 

and, to the extent provided in such Assignment and
Acceptance, have the rights and obligations of a
Lender hereunder and (y) the assigning Lender thereunder shall, to the extent provided in such
Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case
of an Assignment and Acceptance covering all or the remaining portion of the assigning Lender’s
rights and obligations under this Agreement, such assigning Lender shall cease to be a party
hereto).

          (c) Notwithstanding the other provisions of this Section 10.3, each Lender may at any time
make an assignment of its interests, rights and obligations under this Agreement to (i) any
Affiliate of such Lender or (ii) any other Lender hereunder without the consent of the Borrower
provided that it meets the registration requirements in Section 10.3(b)(4).

          (d) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder
and the assignee thereunder confirm to and agree with each other and the other parties hereto as
follows: (i) other than the representation and warranty that it is the legal and beneficial owner
of the interest being assigned thereby free and clear of any adverse claim, the assigning Lender
makes no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in, or in connection with, this Agreement or the execution,
legality, validity, enforceability, genuineness, sufficiency or value of the Fundamental Documents
or any other instrument or document furnished pursuant hereto or thereto; (ii) such Lender assignor
makes no representation or warranty and assumes no responsibility with respect to the financial
condition of the Borrower or the performance or observance by the Borrower or any Subsidiary
Borrower of any of its obligations under the Fundamental Documents; (iii) such assignee confirms
that it has received a copy of this Agreement, together with copies of the most recent financial
statements delivered pursuant to Sections 5.1(a) and 5.1(b) (or if none of such financial
statements shall have then been delivered, then copies of the financial statements referred to in
Section 3.4 hereof) and such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into such Assignment and Acceptance; (iv) such
assignee will, independently and without reliance upon the assigning Lender, the Administrative
Agent or any other Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under this
Agreement; (v) such assignee appoints and authorizes the Administrative Agent to take such action
as agent on its behalf and to exercise such powers under the Fundamental Documents as are delegated
to the Administrative Agent by the terms thereof, together with such powers as are reasonably
incidental thereto; and (vi) such assignee agrees that it will be bound by the provisions of this
Agreement and will perform in accordance with its terms all of the obligations which by the terms
of this Agreement are required to be performed by it as a Lender.

          (e) The Administrative Agent, on behalf of the Borrower, shall maintain at its address at
which notices are to be given to it pursuant to Section 10.1, a copy of each Assignment and
Acceptance delivered to it and a register for the recordation of the names and addresses of the
Lenders and the Revolving Commitments of, and the principal and interest amounts of the Loans owing
to, each Lender from time to time (the “Register”). The entries in the Register shall be
conclusive, in the absence of manifest error, and the Borrower, any Subsidiary Borrower, the
Administrative Agent, the Issuing Lenders and the Lenders shall treat each Person whose name is
recorded in the Register as the owner of a Loan or other obligation hereunder as the owner thereof
for all purposes of this Agreement and the other Fundamental Documents, notwithstanding any notice
to the contrary. Any assignment shall be effective only upon appropriate entries with respect
thereto being made in the Register. The Register shall be available for inspection by the Borrower
or any Lender at any reasonable time and from time to time upon reasonable prior notice.

          (f) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an
assignee and the processing and recordation fee, the Administrative Agent (subject to the right, if

 

 

any, of the Borrower to require its consent thereto) shall, if such Assignment and Acceptance
has been completed and is substantially in the form of Exhibit B hereto, (i) accept such Assignment
and Acceptance, (ii) record the information contained therein in the Register and (iii) give prompt
written notice thereof to the Borrower.

          (g) Each of the Lenders may, without the consent of the Borrower, the Administrative Agent or
any Issuing Lender, sell participations to an Eligible Assignee (a “Participant”) in all or
a portion of its rights and obligations under this Agreement (including, without limitation, all or
a portion of its Revolving Commitment and the Loans owing to it); provided,
however, that (i) any such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Participant shall not be granted any voting rights under this Agreement,
except with respect to matters requiring the consent of each of the Lenders hereunder, (iii) any
such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations, (iv) the participating banks or other entities shall be entitled to the cost
protection provisions of Sections 2.16, 2.17, 2.19, 2.23 and 2.26 hereof (and subject to the
limitations and obligations thereof) but a Participant shall not be entitled to receive pursuant to
such provisions an amount larger than its share of the amount to which the Lender granting such
participation would have been entitled to receive; provided that a Participant shall not be
entitled to the benefits of Section 2.23 unless the Borrower is notified of the participation sold
to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with
Section 2.23(e) as though it were a Lender, and (v) the Borrower, the Administrative Agent and the
other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Each Lender that sells a participation,
acting solely for this purpose as an agent of the Borrower, shall maintain a register in which it
enters the name and address of each Participant and the principal amounts (and stated interest) of
each Participant’s interest in the Loans or other obligations under this Agreement (the
“Participant Register”). The entries in the Participant Register shall be conclusive, and
such Lender, the Administrative Agent, the Borrower and any Subsidiary Borrower shall treat each
Person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner
of such participation for purposes of this Agreement, notwithstanding notice to the contrary.

          (h) The Lenders may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 10.3, disclose to the assignee or Participant or proposed
assignee or Participant, any information, including confidential information, relating to the
Borrower furnished to the Administrative Agent by or on behalf of the Borrower; provided
that prior to any such disclosure, each such assignee or Participant or proposed assignee or
Participant agrees in writing to be bound by either the confidentiality provisions of Section 10.15
or other provisions at least as restrictive as Section 10.15.

          (i) Each Lender hereby represents that it is a commercial lender or financial institution
which makes loans in the ordinary course of its business and that it will make the Loans hereunder
for its own account in the ordinary course of such business; provided, however,
that, subject to preceding clauses (a) through (h), the disposition of the Indebtedness held by
that Lender shall at all times be within its exclusive control.

          (j) Any Lender may at any time and from time to time pledge, or otherwise grant a security
interest in, all or a portion of its rights under this Agreement, including any such pledge or
grant to any Federal Reserve Bank, and, with respect to any Lender which is a fund, to the fund’s
trustee in support of its obligations to such trustee, and this Section shall not apply to any such
pledge or grant; provided that no such pledge or grant shall release a Lender from any of
its obligations hereunder or substitute any such assignee for such Lender as a party hereto. The
Borrower and any relevant Subsidiary
Borrower shall, upon receipt of a written request from any Lender, issue a Note to facilitate
such transactions.

 

 

          (k) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”), identified as such
in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower,
the option to provide to the Borrower or any Subsidiary Borrower all or any part of any Revolving
Credit Loan that such Granting Lender would otherwise be obligated to make to the Borrower or such
Subsidiary Borrower pursuant to Section 2.1 or 2.8, provided that (i) nothing herein shall
constitute a commitment to make any Revolving Credit Loan by any SPC and (ii) if an SPC elects not
to exercise such option or otherwise fails to provide all or any part of such Revolving Credit Loan
or fund any other obligation required to be funded by it hereunder, the Granting Lender shall be
obligated to make such Revolving Credit Loan or fund such obligation pursuant to the terms hereof.
The making of a Revolving Credit Loan by an SPC hereunder shall satisfy the obligation of the
Granting Lenders to make Revolving Credit Loans to the same extent, and as if, such Loan were made
by the Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any
payment under this Agreement for which a Lender would otherwise be liable, for so long as, and to
the extent, the related Granting Lender makes such payment. In furtherance of the foregoing, each
party hereto hereby agrees that, prior to the date that is one year and one day after the payment
in full of all outstanding senior indebtedness of any SPC, it will not institute against or join
any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or similar proceedings under the laws of the United States or
any State thereof. In addition, notwithstanding anything to the contrary contained in this Section
10.3 any SPC may (i) with notice to, but without the prior written consent of, the Borrower or the
Administrative Agent and without paying any processing fee therefor, assign all or a portion of its
interests in any Revolving Credit Loan to its Granting Lender or to any financial institutions
providing liquidity and/or credit facilities to or for the account of such SPC to fund the
Revolving Credit Loans made by SPC or to support the securities (if any) issued by such SPC to fund
such Revolving Credit Loans and (ii) disclose on a confidential basis any non-public information
relating to its Revolving Credit Loans to any rating agency, commercial paper dealer or provider of
a surety, guarantee or credit or liquidity enhancement to such SPC.

          (l) The Borrower and its Subsidiaries and controlled Affiliates shall not be entitled to (i)
vote as a Lender under any matter related to this Agreement or the other Fundamental Documents
except, to the extent applicable, for matters described in clauses (i)-(iii) of Section 10.9(a)
requiring the consent of each Lender affected thereby or (ii) in their capacities as Lender, attend
Lender meetings or conference calls or receive information distributed to Lenders.

          SECTION 10.4. Expenses.

          Whether or not the transactions hereby contemplated shall be consummated, the Borrower agrees
to pay all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent,
the Syndication Agent and the Bookrunners in connection with the syndication, preparation,
execution, delivery and administration of this Agreement and the other Fundamental Documents (and
any actual or proposed amendment, modification or waiver of this Agreement or the other Fundamental
Documents), the making of the Loans and issuance and administration of the Letters of Credit, the
reasonable and documented fees and disbursements of Kaye Scholer LLP, counsel to the Administrative
Agent, as well as all reasonable and documented out-of-pocket expenses incurred by the
Administrative Agent, the Syndication Agent and the Lenders in connection with any restructuring or
workout of this Agreement or the Letters of Credit or in connection with the enforcement or
protection of the rights of the Administrative Agent, the Syndication Agent and the Lenders in
connection with this Agreement or the Letters of Credit or any other Fundamental Document, and with
respect to any action
which may be instituted by any Person against the Administrative Agent, the Syndication Agent,
any Lender or any Issuing Lender in respect of the foregoing, or as a result of any transaction,
action or nonaction arising from the foregoing, including but not limited to the reasonable and
documented fees and disbursements of any counsel for the Administrative Agent, the Syndication
Agent, the Lenders or any

 

 

Issuing Lender; provided, however, that the Borrower
shall not be liable for the fees and expenses of more than one separate firm for the Lenders or any
Issuing Lender, unless there shall exist an actual conflict of interest among such Persons, and in
such case, not more than two separate firms, in connection with any one such action or any separate
but substantially similar or related actions in the same jurisdiction, nor shall the Borrower be
liable for any settlement or any proceeding effected without the Borrower’s written consent. Such
payments shall be made on the Closing Date and thereafter on demand. The obligations of the
Borrower under this Section shall survive the termination of this Agreement and/or the payment of
the Loans and/or expiration of the Letters of Credit.

          SECTION 10.5. Indemnity.

          Further, by the execution hereof, the Borrower and each Subsidiary Borrower agrees to
indemnify and hold harmless the Administrative Agent, the Syndication Agent, the Bookrunners, the
Lenders and the Issuing Lenders and their respective directors, officers, employees, advisors,
Affiliates and agents (each, an “Indemnified Party”) from and against any and all expenses
(including reasonable and documented fees and disbursements of counsel), losses, claims, damages
and liabilities arising out of any claim, litigation, investigation or proceeding (regardless of
whether any such Indemnified Party is a party thereto) in any way relating to the transactions
contemplated hereby or the use or proposed use of the proceeds, IN ALL CASES, WHETHER OR NOT CAUSED
BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE
INDEMNITEE, but excluding therefrom all expenses, losses, claims, damages, and liabilities arising
out of or resulting from the gross negligence or willful misconduct of the Indemnified Party
seeking indemnification or any of its Related Parties as determined by a final and nonappealable
judgment of a court of competent jurisdiction, provided, however, neither the
Borrower nor any Subsidiary Borrower shall be liable for the fees and expenses of more than one
separate firm for all such Indemnified Parties (unless there shall exist an actual conflict of
interest among such Indemnified Parties, and in such case, not more than two separate firms) in
connection with any one such action or any separate but substantially similar or related actions in
the same jurisdiction, nor shall the Borrower or any Subsidiary Borrower be liable for any
settlement of any proceeding effected without the Borrower’s or such Subsidiary Borrower’s written
consent, and provided further, however, that this Section 10.5 shall not be
construed to expand the scope of the reimbursement obligations of the Borrower and any Subsidiary
Borrower specified in Section 10.4. The obligations of the Borrower and any Subsidiary Borrower
under this Section 10.5 shall survive the termination of this Agreement and/or payment of the Loans
and/or the expiration of the Letters of Credit. No Indemnified Party shall be liable for any
special, indirect, consequential or punitive damages in connection with its activities relating to
this Agreement and the other Fundamental Documents.

          SECTION 10.6. CHOICE OF LAW.

          THIS AGREEMENT AND THE NOTES HAVE BEEN EXECUTED AND DELIVERED IN THE STATE OF NEW YORK AND
SHALL IN ALL RESPECTS BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF SUCH STATE
APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE AND, IN THE CASE OF
PROVISIONS RELATING TO INTEREST RATES, ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

          SECTION 10.7. No Waiver.

          No failure on the part of the Administrative Agent, any Lender or any Issuing Lender to
exercise, and no delay in exercising, any right, power or remedy hereunder or with regards to the
Letters of Credit shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right, power

 

 

or remedy preclude any other or further exercise thereof or the exercise of
any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of
any other remedies provided by law.

          SECTION 10.8. Extension of Maturity.

          Except as otherwise specifically provided in Section 1 or 8 hereof, should any payment of
principal, interest or any other amount due hereunder become due and payable on a day other than a
Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in
the case of principal, interest shall be payable thereon at the rate herein specified during such
extension.

          SECTION 10.9. Amendments, etc.

          (a) Except as expressly set forth in this Agreement (including in Sections 2.14, 2.27, 2.28
and 2.29), no modification, amendment or waiver of any provision of this Agreement, and no consent
to any departure by the Borrower herefrom or therefrom, shall in any event be effective unless the
same shall be in writing and signed or consented to in writing by the Required Lenders, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for
which given; provided, however, that no such modification or amendment shall
without the written consent of each Lender affected thereby (i) increase or extend the expiration
date of the Revolving Commitment of a Lender, (ii) alter the stated maturity or principal amount of
any installment of any Loan (or any reimbursement obligation with respect to a Letter of Credit) or
decrease the rate of interest payable thereon or extend the scheduled date of any payment thereof,
or the rate at which the Facility Fees or letter of credit fees or other fees accrue, or extend the
scheduled date of any payment thereof, (iii) waive a default under Section 7(b) hereof with respect
to a scheduled principal installment of any Loan or (iv) release the Borrower from its obligations
under the Guaranty (except in accordance with its terms); and provided, further
that, except to the extent reasonably necessary to give effect to Sections 2.14, 2.27, 2.28 and
2.29, no such modification or amendment shall without the written consent of all of the Lenders (x)
amend or modify any provision of this Agreement which provides for the unanimous consent or
approval of the Lenders or (y) amend this Section 10.9 or the definition of Required Lenders. No
such amendment or modification may adversely affect the rights and obligations of the
Administrative Agent or any Issuing Lender hereunder without its prior written consent. No notice
to or demand on the Borrower shall entitle the Borrower to any other or further notice or demand in
the same, similar or other circumstances. Each holder of a Note shall be bound by any amendment,
modification, waiver or consent authorized as provided herein, whether or not a Note shall have
been marked to indicate such amendment, modification, waiver or consent and any consent by any
holder of a Note shall bind any Person subsequently acquiring a Note, whether or not a Note is so
marked. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right
to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)
the Revolving Commitment of any Defaulting Lender may not be increased or extended without the
consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all
Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than
other affected Lenders shall require the consent of such Defaulting Lender.

          (b) This Agreement may be amended without consent of the Lenders, so long as no Default or
Event of Default shall have occurred and be continuing, as follows:

          (i) This Agreement will be amended to designate any Subsidiary of the Borrower as a
Subsidiary Borrower upon (v) ten Business Days prior notice (or such shorter

 

 

period as may
be agreed to by the Administrative Agent in its sole discretion) to the Lenders (such
notice to contain the name, primary business address and taxpayer identification number of
such Subsidiary), (w) the execution and delivery by the Borrower, such Subsidiary and the
Administrative Agent of a Joinder Agreement, substantially in the form of Exhibit F (a
“Joinder Agreement”), providing for such Subsidiary to become a Subsidiary
Borrower, (x) the agreement and acknowledgment by the Borrower and each other Subsidiary
Borrower that the Guaranty contained in Section 9 covers the Obligations of such
Subsidiary and (y) the delivery to the Administrative Agent of (1) corporate or other
applicable resolutions, other corporate or other applicable documents, certificates and
legal opinions in respect of such Subsidiary substantially equivalent to comparable
documents delivered on the Closing Date and (2) such other documents with respect thereto
as the Administrative Agent shall reasonably request. The Administrative Agent and the
Lenders shall have received all documentation and other information required by regulatory
authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act, requested by such Person at least three Business
Days prior to the effectiveness of the applicable Joinder Agreement.

          (ii) This Agreement will be amended to remove any Subsidiary as a Subsidiary Borrower
upon execution and delivery by the Borrower to the Administrative Agent of a written
notification to such effect and repayment in full of all Loans made to such Subsidiary
Borrower, cash collateralization of all reimbursement obligations in respect of any
Letters of Credit issued for the account of such Subsidiary Borrower and repayment in full
of all other amounts owing by such Subsidiary Borrower under this Agreement (it being
agreed that any such repayment shall be in accordance with the other terms of this
Agreement); provided, however, that no such amendment shall affect or
limit the Borrower’s obligations under the Guaranty.

          (c) This Agreement may be amended with the consent of the Administrative Agent, the Borrower
and any other Person set forth in the applicable section in order to implement the provisions of
Sections 2.14(d)-(g), 2.27, 2.28 and 2.29.

          (d) Notwithstanding the foregoing, this Agreement may be amended (or amended and restated)
with the written consent of the Required Lenders, the Administrative Agent and the Borrower (a) to
add one or more additional credit facilities to this Agreement and to permit the extensions of
credit from time to time outstanding thereunder and the accrued interest and fees in respect
thereof to share ratably in the benefits of this Agreement and the other Fundamental Documents and
(b) to include appropriately the Lenders holding such credit facilities in any determination of the
Required Lenders.

          (e) Further, notwithstanding anything to the contrary contained in this Section, if the
Administrative Agent and Borrower shall have jointly identified an obvious error or any error or
omission of a technical or immaterial nature, in each case, in any provision of the Fundamental
Documents, then the Administrative Agent and Borrower shall be permitted to amend such provision
and such amendment shall become effective without any further action or consent of any other party
to any Fundamental Document if the same is not objected to in writing by the Required Lenders
within three Business Days following receipt of notice thereof.

          SECTION 10.10. Severability.

          Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

 

 

          SECTION 10.11. SERVICE OF PROCESS; WAIVER OF JURY TRIAL.

          (a) THE ADMINISTRATIVE AGENT, EACH LENDER AND ISSUING LENDER, THE BORROWER AND EACH SUBSIDIARY
BORROWER HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE STATE COURTS OF THE STATE OF NEW YORK
LOCATED IN NEW YORK COUNTY AND TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT
OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF BROUGHT BY THE ADMINISTRATIVE AGENT, A
LENDER OR AN ISSUING LENDER. THE BORROWER AND EACH SUBSIDIARY BORROWER TO THE EXTENT PERMITTED BY
APPLICABLE LAW (A) HEREBY WAIVES, AND AGREES NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, OR
OTHERWISE, IN ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH COURTS, ANY CLAIM THAT IT IS NOT
SUBJECT PERSONALLY TO THE JURISDICTION OF THE ABOVE-NAMED COURTS, THAT ITS PROPERTY IS EXEMPT OR
IMMUNE FROM ATTACHMENT OR EXECUTION, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN
INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR PROCEEDING IS IMPROPER OR THAT THIS
AGREEMENT OR THE SUBJECT MATTER HEREOF MAY NOT BE ENFORCED IN OR BY SUCH COURT, AND (B) HEREBY
WAIVES THE RIGHT TO ASSERT IN ANY SUCH ACTION, SUIT OR PROCEEDING ANY OFFSETS OR COUNTERCLAIMS
EXCEPT COUNTERCLAIMS THAT ARE COMPULSORY OR OTHERWISE ARISE FROM THE SAME SUBJECT MATTER. EACH
LENDER, EACH ISSUING LENDER, THE BORROWER AND EACH SUBSIDIARY BORROWER HEREBY CONSENTS TO SERVICE
OF PROCESS BY MAIL AT ITS ADDRESS TO WHICH NOTICES ARE TO BE GIVEN PURSUANT TO SECTION 10.1 HEREOF.
THE BORROWER AND EACH SUBSIDIARY BORROWER AGREES THAT ITS SUBMISSION TO JURISDICTION AND CONSENT
TO SERVICE OF PROCESS BY MAIL IS MADE FOR THE EXPRESS BENEFIT OF THE ADMINISTRATIVE AGENT, THE
LENDERS AND EACH ISSUING LENDER. FINAL JUDGMENT AGAINST THE BORROWER OR SUCH SUBSIDIARY BORROWER
IN ANY SUCH ACTION, SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN ANY OTHER
JURISDICTION (A) BY SUIT, ACTION OR PROCEEDING ON THE JUDGMENT, A CERTIFIED OR TRUE COPY OF WHICH
SHALL BE CONCLUSIVE EVIDENCE OF THE FACT AND THE AMOUNT OF INDEBTEDNESS OR LIABILITY OF THE
SUBMITTING PARTY THEREIN DESCRIBED OR (B) IN ANY OTHER MANNER PROVIDED BY, OR PURSUANT TO, THE LAWS
OF SUCH OTHER JURISDICTION, PROVIDED, HOWEVER, THAT THE ADMINISTRATIVE AGENT, A
LENDER OR AN ISSUING LENDER MAY AT ITS OPTION BRING SUIT, OR INSTITUTE OTHER JUDICIAL PROCEEDINGS
AGAINST THE BORROWER OR SUCH SUBSIDIARY BORROWER OR ANY OF ITS ASSETS IN ANY STATE OR FEDERAL COURT
OF THE UNITED STATES OR OF ANY COUNTRY OR PLACE WHERE THE BORROWER, SUCH SUBSIDIARY BORROWER OR
SUCH ASSETS MAY BE FOUND.

          (b) TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO
HEREBY WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR
OTHERWISE), ANY RIGHT
TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION, OR CAUSE OF
ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING OR WHETHER IN CONTRACT OR TORT OR OTHERWISE. EACH PARTY
HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT THE PROVISIONS OF THIS SECTION 10.11(b)
CONSTITUTE A MATERIAL INDUCEMENT UPON WHICH THE OTHER PARTIES HAVE RELIED, ARE RELYING AND WILL
RELY IN ENTERING INTO THIS AGREEMENT. THE PARTIES HERETO MAY FILE AN ORIGINAL COUNTERPART OR A
COPY

 

 

OF THIS SECTION 10.11(b) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF SUCH OTHER PARTY
TO THE WAIVER OF ITS RIGHTS TO TRIAL BY JURY.

          SECTION 10.12. Headings.

          Section headings used herein are for convenience only and are not to affect the construction
of or be taken into consideration in interpreting this Agreement.

          SECTION 10.13. Execution in Counterparts.

          This Agreement may be executed in any number of counterparts, each of which shall constitute
an original, but all of which taken together shall constitute one and the same instrument.

          SECTION 10.14. Entire Agreement.

          THIS AGREEMENT, THE OTHER FUNDAMENTAL DOCUMENTS, AND THE PROVISIONS OF THE LETTER AGREEMENTS
DATED JUNE 6, 2011 AMONG THE BORROWER, BANK OF AMERICA, N.A., JP MORGAN CHASE BANK, N.A. AND THE
BOOKRUNNERS RELATING TO FEES AND EXPENSES, REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

          SECTION 10.15. Confidentiality.

          Each of the Administrative Agent, the Issuing Lenders and the Lenders agrees that it will not
use, either directly or indirectly, any of the Confidential Information except in connection with
this Agreement and the transactions contemplated hereby. Neither the Administrative Agent, the
Issuing Lender or any Lender shall disclose to any Person the Confidential Information, except

          (a) to its and its Affiliates’ directors, officers, employees and agents, including
accountants, legal counsel and other professional advisors who need to know the Confidential
Information for purposes related to this Agreement or any other Fundamental Document or any
transactions contemplated thereby or reasonably incidental to the administration of this Agreement
or the other Fundamental Documents (it being understood that the Persons to whom such disclosure is
made will be informed of the confidential nature of such Confidential Information and agree to keep
such Confidential Information confidential in accordance with the provisions of this Section 10.15
or other provisions at least as restrictive as this Section 10.15),

          (b) to the extent requested by any regulatory authority or any self-regulatory body having or
claiming jurisdiction or oversight over it or its Affiliates,

          (c) to the extent required by Applicable Law, regulations or by any subpoena or similar legal
process, provided that the Administrative Agent, such Issuing Lender or such Lender, as the
case may be, shall request confidential treatment of such Confidential Information to the extent
permitted by Applicable Law and the Administrative Agent, such Issuing Lender or such Lender, as
the case may be, shall, to the extent permitted by Applicable Law, promptly inform the Borrower
with respect thereto so that the Borrower may seek appropriate protective relief to the extent
permitted by Applicable Law, provided further that in the event that such
protective remedy or other remedy is not obtained, the Administrative Agent, such Issuing Lender or
such Lender, as the case may be, shall furnish only that

 

 

portion of the Confidential Information
that is legally required and shall disclose the Confidential Information in a manner reasonably
designed to preserve its confidential nature,

          (d) to any other Lender party to this Agreement,

          (e) in connection with the exercise of any remedies hereunder or any suit, action or
proceeding relating to this Agreement or the enforcement of rights hereunder,

          (f) subject to an agreement containing provisions substantially the same as those of this
Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and
its obligations,

          (g) with the prior written consent of the Borrower or

          (h) to the extent such Information (i) becomes publicly available other than as a result of a
breach of this Section 10.15 or (ii) becomes available to the Administrative Agent, any Issuing
Lender or any Lender on a nonconfidential basis from a source other than the Borrower, its
Affiliates or Representatives, which source, to the reasonable knowledge of the Administrative
Agent, the Issuing Lender or any Lender, as may be appropriate, is not prohibited from disclosing
such Confidential Information to the Administrative Agent, Issuing Bank or such Lender by a
contractual, legal or fiduciary obligation, to the Borrower, the Administrative Agent or any
Lender.

          (i) Neither the Administrative Agent nor any Lender shall make any public announcement,
advertisement, statement or communication regarding the Borrower, its Affiliates or this Agreement
or the transactions contemplated hereby without the prior written consent of the Borrower. The
obligations of the Administrative Agent and each Lender under this Section 10.15 shall survive the
termination or expiration of this Agreement.

          SECTION 10.16. USA PATRIOT Act.

          Each Lender hereby notifies the Borrower and each Subsidiary Borrower party hereto that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) (the “Act”), it is required to obtain, verify and record information
that identifies the Borrower, which information includes the name and address of the Borrower or
such Subsidiary Borrower and other information that will allow such Lender to identify the Borrower
or such Subsidiary Borrower in accordance with the Act. The Borrower and each Subsidiary Borrower
party hereto shall promptly provide such information upon request by any Lender. In connection
therewith, each Lender hereby agrees that the confidentiality provisions set forth in Section 10.15
shall apply to any non-public information provided to it by the Borrower and its Subsidiaries
pursuant to this Section 10.16.

          SECTION 10.17. Replacement of Lenders.

          If any Lender refuses to consent to an amendment, modification or waiver of this Agreement
that is approved by the Required Lenders pursuant to Section 10.9 (a “Non-Consenting
Lender”), if any Lender makes a claim for payment under Section 2.16, 2.17 or 2.18, if any
Lender is a Defaulting Lender, or under any other circumstances set forth herein expressly
providing that the Borrower shall have the right to replace a Lender as a party to this Agreement,
the Borrower may, upon notice to such Lender and the Administrative Agent and subject to Section
2.19, replace such Lender by causing such Lender to assign its Revolving Commitment (with the
assignment fee to be paid by the

 

 

Borrower in such instance) pursuant to Section 10.3 to one or more
Eligible Assignees procured by the Borrower upon receipt of accrued fees and interest and all other
amounts due and owing to it.

          SECTION 10.18. No Advisory or Fiduciary Responsibility.

          In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Fundamental
Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding,
that: (i) (A) the arranging and other services regarding this Agreement provided by the
Administrative Agent, the Lenders and the other Agents are arm’s-length commercial
transactions between the Borrower and its Affiliates, on the one hand, and the Administrative
Agent, the Lenders and the other Agents, on the other hand, (B) the Borrower has consulted its own
legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the
Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of
the transactions contemplated hereby and by the other Fundamental Documents; (ii) (A) the
Administrative Agent, each Lender and each other Agent has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not
be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other
Person and (B) neither the Administrative Agent nor any Lender or other Agent has any
obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Fundamental Documents;
and (iii) the Administrative Agent, the Lenders and the other Agents and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from
those of the Borrower and its Affiliates, and neither the Administrative Agent nor any Lender or
other Agent has any obligation to disclose any of such interests to the Borrower or its Affiliates.
To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it
may have against the Administrative Agent, the Lenders and the other Agents with respect to any
breach or alleged breach of agency or fiduciary duty in connection with any aspect of any
transaction contemplated hereby.

 

 

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

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION,

as Borrower

 	 
	 	By:  	/s/ Thomas J. Edwards, Jr.
 	 
	 	 	Name:  	Thomas J. Edwards, Jr. 	 
	 	 	Title:  	Executive Vice President and Treasurer 	 
	 
	 	BANK OF AMERICA, N.A,

as Administrative Agent, Lender, Swingline Lender and

Issuing Lender

 	 
	 	By:  	/s/ Lesa J. Butler
 	 
	 	 	Name:  	Lesa J. Butler 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	JPMORGAN CHASE BANK, N.A,

as Syndication Agent, Issuing Lender and Lender

 	 
	 	By:  	/s/ Robert D. Bryant
 	 
	 	 	Name:  	Robert D. Bryant 	 
	 	 	Title:  	Vice President 	 
	 
	 	COMPASS BANK

as Co-Documentation Agent and Lender

 	 
	 	By:  	/s/ Keely W. McGee
 	 
	 	 	Name:  	Keely W. McGee 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Co-Documentation Agent and Lender

 	 
	 	By:  	/s/ Karl Studer
 	 
	 	 	Name:  	Karl Studer 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ Claudia Siffert
 	 
	 	 	Name:  	Claudia Siffert 	 
	 	 	Title:  	Assistant Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK SECURITIES INC.,

as Co-Documentation Agent

 	 
	 	By:  	/s/ George R. Reynolds
 	 
	 	 	Name:  	George R. Reynolds 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ JT Coe
 	 
	 	 	Name:  	JT Coe 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH

as Lender

 	 
	 	By:  	/s/ George R. Reynolds
 	 
	 	 	Name:  	George R. Reynolds 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ JT Coe
 	 
	 	 	Name:  	JT Coe 	 
	 	 	Title:  	Managing Director 	 
	 
	 	THE BANK OF NOVA SCOTIA,

as Co-Documentation Agent and Lender

 	 
	 	By:  	/s/ George Sherman
 	 
	 	 	Name:  	George Sherman 	 
	 	 	Title:  	Director 	 
	 
	 	THE ROYAL BANK OF SCOTLAND PLC,

as Co-Documentation Agent and Lender

 	 
	 	By:  	/s/ Michaela V. Galluzzo
 	 
	 	 	Name:  	Michaela V. Galluzzo 	 
	 	 	Title:  	Director 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Co-Documentation Agent and Lender

 	 
	 	By:  	/s/ Steven L. Sawyer
 	 
	 	 	Name:  	Steven L. Sawyer 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as Lender

 	 
	 	By:  	/s/ Kenneth Egusa
 	 
	 	 	Name:  	Kenneth Egusa 	 
	 	 	Title:  	Vice President 	 
	 
	 	WELLS FARGO BANK NA,

as Lender

 	 
	 	By:  	/s/ James Travagline
 	 
	 	 	Name:  	James Travagline 	 
	 	 	Title:  	Director 	 
	 
	 	NATIONAL AUSTRALIA BANK LIMITED

ABN# 12-004-044-937,

as Lender

 	 
	 	By:  	/s/ Courtney Cloe
 	 
	 	 	Name:  	Courtney Cloe 	 
	 	 	Title:  	Director 	 
	 
	 	SUMITOMO MITSUI BANKING CORPORATION,

as Lender

 	 
	 	By:  	/s/ Natsuhiro Samejima
 	 
	 	 	Name:  	Natsuhiro Samejima 	 
	 	 	Title:  	Joint General Manager 	 
	 
	 	SUNTRUST BANK,

as Lender

 	 
	 	By:  	/s/ David Fournier
 	 
	 	 	Name:  	David Fournier 	 
	 	 	Title:  	Vice President 	 
	 
	 	COMERICA BANK,

as Lender

 	 
	 	By:  	/s/ Dru Steinly
 	 
	 	 	Name:  	Dru Steinly 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA,

as Lender

 	 
	 	By:  	/s/ Mark Walton
 	 
	 	 	Name:  	Mark Walton 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	BRANCH BANKING & TRUST COMPANY,

as Lender

 	 
	 	By:  	/s/ Preston W. Bergen
 	 
	 	 	Name:  	Preston W. Bergen 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	DANSKE BANK A/S,

as Lender

 	 
	 	By:  	/s/ Martin Engholm
 	 
	 	 	Name:  	Martin Engholm 	 
	 	 	Title:  	Senior Relationship Manager 	 
	 
	 	 	 
	 	By:  	                                              /s/ Morten Olufsen
 	 
	 	 	Name:  	Morten Olufsen 	 
	 	 	Title:  	Senior Client Executive 	 
	 
	 	COÖPERATIEVE CENTRALE RAIFFEISEN-

BOERENLEENBANK B.A.,

as Lender

 	 
	 	By:  	/s/ A.J. Zonnevylle
 	 
	 	 	Name:  	A.J. Zonnevylle 	 
	 	 	Title:  	Executive Director, Proxy AB 	 
	 
	 	 	 
	 	By:  	                                              /s/ H.J. Beltman
 	 
	 	 	Name:  	H.J. Beltman 	 
	 	 	Title:  	Director, Proxy B 	 
	 
	 	WESTPAC BANKING CORPORATION,

as Lender

 	 
	 	By:  	/s/ Henrik Jensen
 	 
	 	 	Name:  	Henrik Jensen 	 
	 	 	Title:  	Director, Corporate & Institutional Banking 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF HAWAII,

as Lender

 	 
	 	By:  	/s/ Edward Chin
 	 
	 	 	Name:  	Edward Chin 	 
	 	 	Title:  	Vice President 	 
	 
	 	BANK OF TAIWAN, NEW YORK AGENCY,

as Lender

 	 
	 	By:  	/s/ Thomas K.C. Wu
 	 
	 	 	Name:  	Thomas K.C. Wu 	 
	 	 	Title:  	General Manager 	 
	 
	 	CHANG HWA COMMERCIAL BANK, LTD.,

NEW YORK BRANCH,

as Lender

 	 
	 	By:  	/s/ Eric Y.S. Tsai
 	 
	 	 	Name:  	Eric Y.S. Tsai 	 
	 	 	Title:  	V.P. & General Manager 	 
	 
	 	FIRST COMMERCIAL BANK,

NEW YORK BRANCH

as Lender

 	 
	 	By:  	/s/ May Hsiao
 	 
	 	 	Name:  	May Hsiao 	 
	 	 	Title:  	Deputy General Manager 	 
	 
	 	HUA NAN COMMERCIAL BANK, LTD.,

NEW YORK AGENCY,

as Lender

 	 
	 	By:  	/s/ Lie-Pun Lin
 	 
	 	 	Name:  	Lie-Pun Lin 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	 	TAIWAN BUSINESS BANK,

as Lender

 	 
	 	By:  	/s/ Alex Wang
 	 
	 	 	Name:  	Alex Wang 	 
	 	 	Title:  	S.V.P. General Manager 	 

 

 

	 	 	 	 	 

Schedule 2.1

COMMITMENTS

	 	 	 	 	 
	Lender	 	Revolving Commitment	 
	Bank of America, N.A.
	 	$	90,000,000	 
	JPMorgan Chase Bank, N.A.
	 	$	90,000,000	 
	Credit Suisse AG, Cayman Islands Branch
	 	$	70,000,000	 
	Deutsche Bank AG, New York Branch
	 	$	70,000,000	 
	The Royal Bank of Scotland plc
	 	$	70,000,000	 
	The Bank of Nova Scotia
	 	$	70,000,000	 
	U.S. Bank National Association
	 	$	70,000,000	 
	Compass Bank
	 	$	70,000,000	 
	National Australia Bank Limited
	 	$	50,000,000	 
	Wells Fargo Bank, N.A.
	 	$	60,000,000	 
	The Bank Of Tokyo-Mitsubishi UFJ, Ltd.,
New York Branch
	 	$	60,000,000	 
	Branch Banking & Trust Company
	 	$	15,000,000	 
	Comerica Bank
	 	$	25,000,000	 
	Goldman Sachs Bank USA
	 	$	25,000,000	 
	Sumitomo Mitsui Banking Corporation
	 	$	30,000,000	 
	SunTrust Bank
	 	$	30,000,000	 
	Westpac Banking Corporation
	 	$	15,000,000	 
	Bank of Hawaii
	 	$	10,000,000	 
	Bank of Taiwan, New York Agency
	 	$	10,000,000	 
	Chang Hwa Commercial Bank, Ltd.
	 	$	10,000,000	 
	Danske Bank A/S
	 	$	15,000,000	 
	First Commercial Bank, New York Agency
	 	$	10,000,000	 
	Hua Nan Commercial Bank, Ltd. New York Agency
	 	$	10,000,000	 
	Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.
	 	$	15,000,000	 
	(Rabobank International)
	 	 	 	 
	Taiwan Business Bank
	 	$	10,000,000	 
	 
	 	 	 
	Total
	 	$	1,000,000,000	 

 

 

Schedule 2.26

EXISTING LETTERS OF CREDIT

	 	 	 	 	 	 	 	 	 	 	 
	Bank	 	Amount	 	Beneficiary	 	Effective Date	 	Expiration Date
	JPMorgan Chase

	 	$	25,000.00	 	 	City of Oceanside
	 	12/20/2005
	 	12/15/2011
	 
	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase

	 	$	1,658,034.10	 	 	Banco Bilbao Vizcaya (BBV)
	 	7/3/1997
	 	7/3/2013
	 
	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase

	 	$	5,000.00	 	 	Best Western
International, Inc.
	 	7/27/2004
	 	10/26/2011
	 
	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase

	 	$	10,647,140.00	 	 	American Casualty
Company of Reading
	 	9/29/2006
	 	9/13/2011
	 
	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase

	 	$	95,301.00	 	 	National Union Fire Ins Company
	 	2/9/2007
	 	7/31/2012
	 
	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase

	 	$	27,808.65	 	 	Massachusetts

Mutual Life Insurance Company
	 	12/4/2009
	 	10/20/2011
	 
	 	 	 	 	 	 	 	 	 	 
	Total

	 	$	12,458,283.75	 	 	 	 	 	 	 

 

 

Schedule 3.16

MATERIAL SUBSIDIARIES

1. Wyndham Exchange and Rentals, Inc.

2. Wyndham Vacation Ownership, Inc.

3. Wyndham Hotel Group, LLC

4. Wyndham Resort Development Corporation

5. Wyndham Vacation Resorts, Inc.

 

 

EXHIBIT A

FORM OF

OPINION OF KIRKLAND & ELLIS LLP

 

 

EXHIBIT A

FORM OF

OPINION OF KIRKLAND & ELLIS LLP

July 15, 2011

To Bank of America, N.A., as Administrative Agent

and each of the Lenders under the

Credit Agreement (referred to below)

on the date hereof (the “Lenders”):

	 	Re:	 	Credit Agreement dated as of July 15, 2011, by and among WYNDHAM WORLDWIDE
CORPORATION, a Delaware corporation (the “Borrower”), the lenders party thereto
from time to time (the “Lenders”), JPMORGAN CHASE BANK, N.A., as syndication
agent (the “Syndication Agent”), THE BANK OF NOVA SCOTIA, DEUTSCHE BANK
SECURITIES INC., THE ROYAL BANK OF SCOTLAND PLC, CREDIT SUISSE AG, CAYMAN ISLANDS
BRANCH, US BANK NATIONAL ASSOCIATION and COMPASS BANK, as co-documentation agents (the
“Co-Documentation Agents”), and BANK OF AMERICA, N.A., as administrative agent
(the “Administrative Agent”; together with the Syndication Agent and the
Co-Documentation Agents, the “Agents”) for the Lenders (such credit agreement
herein referred to as the “Credit Agreement”)

Ladies and Gentlemen:

     We are issuing this opinion letter in our capacity as special counsel to the Borrower under
the Credit Agreement.

     The opinions expressed hereby are being provided pursuant to Section 4.1(e) of the Credit
Agreement. Capitalized terms used but not otherwise defined herein shall have the meanings given
to such terms in the Credit Agreement (with references herein to the Credit Agreement and each
document defined therein meaning the Credit Agreement and each such document as executed and
delivered on the date hereof (or if executed and delivered on an earlier date, as the same is in
effect on the date hereof)). The Lenders and the Agents are sometimes referred to in this opinion
letter as “you”.

     We have reviewed executed counterparts of the Credit Agreement in the form executed and
delivered on this date.

 

 

July 15, 2011

Page 2

     Subject to the assumptions, qualifications, exclusions and other limitations which are
identified in this opinion letter and in the schedules attached to this letter, we advise you, and
with respect to each legal issue addressed in this opinion letter, it is our opinion, that:

	1.	 	The Borrower is a corporation, existing and in good standing under the Delaware
General Corporations Law, as in effect on the date hereof (“DGCL”).
	 
	2.	 	The Borrower has the corporate power to execute and deliver the Credit Agreement and
to perform its obligations under the Credit Agreement.
	 
	3.	 	The board of directors of the Borrower has adopted by requisite vote the resolutions
necessary to authorize the execution and delivery of the Credit Agreement, and the performance
by the Borrower of its obligations thereunder. The adoption of such resolutions is the only
corporate action required under the DGCL to be taken by the Borrower in order to authorize the
execution and delivery of the Credit Agreement and the performance by the Borrower of its
obligations thereunder.
	 
	4.	 	The Borrower has duly executed and delivered the Credit Agreement.
	 
	5.	 	The Credit Agreement is a valid and binding obligation of the Borrower and is
enforceable against the Borrower in accordance with its terms.
	 
	6.	 	The execution and delivery by the Borrower and the performance of its obligations
under the Credit Agreement will not (a) violate any existing provisions of the certificate of
incorporation, or bylaws of the Borrower, or (b) based on existing facts of which we are
aware, constitute a violation by the Borrower of any applicable provision of existing
statutory law or governmental regulation applicable to the Borrower and covered by this
opinion letter.
	 
	7.	 	The Borrower is not presently required to obtain any material consent, approval,
authorization or order of, or make any filings with any United States federal or State of New
York court or governmental body, authority or agency in order to obtain the right (a) to
execute and deliver the Credit Agreement, or (b) to perform its obligations under the Credit
Agreement except for (i) those obtained or made on or prior to the date hereof and (ii)
actions or filings required in connection with the ordinary course conduct by the Borrower of
its business and ownership or operation by the Borrower of its assets (as to each of which we
express no opinion).
	 
	8.	 	The Borrower is not required to register as an “investment company” within the meaning
of the Investment Company Act of 1940, as amended.

 

 

July 15, 2011

Page 3

	9.	 	Assuming the Borrower complies with the provisions of the Credit Agreement relating to
the use of proceeds, neither the execution and delivery by the Borrower of the Credit
Agreement, nor the consummation of the lending transactions contemplated therein to occur on
or prior to the date hereof in accordance therewith has resulted in a violation of Regulation
U or X of the Board of Governors of the Federal Reserve System.
	 
	10.	 	To our actual knowledge, no litigation which on the date of this letter is pending
against the Borrower with a court seeks to enjoin or obtain damages by reason of the
Borrower’s execution or delivery of the Credit Agreement or the performance by the Borrower of
any of its agreements in the Credit Agreement. For purposes of this letter, our Designated
Transaction Lawyers have not undertaken any investigation to identify any litigation which is
pending or threatened against the Borrower.

     In preparing this letter, we have relied without any independent verification upon the
assumptions recited in Schedule B hereto and upon: (i) information contained in
certificates obtained from governmental authorities; (ii) factual information represented to be
true in the Credit Agreement; (iii) factual information provided to us in a support certificate
signed by the Borrower; and (iv) factual information we have obtained from such other sources as we
have deemed reasonable. We have examined the originals or copies certified to our satisfaction of
such other corporate records of the Borrower as we deem necessary for or relevant to our opinions,
certificates of public officials and the officers of the Borrower and we have assumed without
investigation that there has been no relevant change or development between the dates as of which
the information cited in the preceding sentence was given and the date of this letter and that the
information upon which we have relied is accurate and does not omit disclosures necessary to
prevent such information from being misleading. For the purposes of the opinions in opinion
paragraph 1, we have relied exclusively upon certificates issued by a governmental authority in the
relevant jurisdiction, and such opinions are not intended to provide any conclusion or assurance
beyond that conveyed by those certificates.

     While we have not conducted any independent investigation to determine facts upon which our
opinions are based or to obtain information about which this letter advises you, we confirm that we
do not have any actual knowledge which has caused us to conclude that our reliance and assumptions
cited in the preceding paragraph, are unwarranted or that any information supplied in this letter
is wrong. The terms “knowledge,” “actual knowledge” and “aware” whenever
used in this letter with respect to our firm mean conscious awareness at the time this letter is
delivered on the date it bears by the following Kirkland & Ellis LLP lawyers who are the only
lawyers at Kirkland & Ellis LLP that have had significant involvement with the negotiation or
preparation of the Credit Agreement (herein called our “Designated Transaction Lawyers”):
Jason Kanner and Robert Baca.

 

 

July 15, 2011

Page 4

     Except as set forth in the following sentences of this paragraph, our advice on every legal
issue addressed in this letter is based exclusively on the internal laws of the State of New York
or the Federal law of the United States which, in each case, in our experience is generally
applicable both to general business organizations which are not engaged in regulated business
activities and to transactions of the type contemplated in the Credit Agreement by the Borrower, on
the one hand, and you, on the other hand (but without our having made any special investigation as
to any other laws), except that we express no opinion or advice as to any law or legal issue (a)
which might be violated by any misrepresentation or omission or a fraudulent act, or (b) to which
the Borrower may be subject as a result of your legal or regulatory status, your sale or transfer
of the Loans or interests therein or your (as opposed to any other lender’s) involvement in the
transactions contemplated by the Credit Agreement. For purposes of paragraphs 1 through 4 and 6(a)
our opinions are based on the DGCL (without regard to judicial interpretation thereof or rules or
regulations promulgated thereunder), as published by Aspen Publishers, Inc., as supplemented
through June 15, 2011 (we note however that we are not admitted to practice law in the State of
Delaware). We advise you that issues addressed by this letter may be governed in whole or in part
by other laws, but we express no opinion as to whether any relevant difference exists between the
laws upon which our opinions are based and any other laws which may actually govern. Our opinions
are subject to all applicable qualifications in Schedule A hereto and do not cover or
otherwise address any law or legal issue which is identified in Schedule C hereto or any
provision in the Credit Agreement of any type identified in Schedule D hereto. Provisions
in the Credit Agreement which are not excluded by Schedule D or any other part of this
letter or its attachments are called the “Relevant Agreement Terms.”

     Our advice on each legal issue addressed in this letter represents our opinion as to how that
issue would be resolved were it to be considered by the highest court of the jurisdiction upon
whose law our opinion on that issue is based. The manner in which any particular issue would be
treated in any actual court case would depend in part on facts and circumstances particular to the
case, and this letter is not intended to guarantee the outcome of any legal dispute which may arise
in the future. It is possible that some Relevant Agreement Terms of a remedial nature contained in
the Credit Agreement may not prove enforceable for reasons other than those cited in this letter
should an actual enforcement action be brought, but (subject to all the exceptions, qualifications,
exclusions and other limitations contained in this letter) such unenforceability would not in our
opinion prevent you from realizing the principal benefits purported to be provided by the Relevant
Agreement Terms of a remedial nature contained in the Credit Agreement.

 

 

July 15, 2011

Page 5

     This opinion letter speaks as of the time of its delivery on the date it bears. We do not
assume any obligation to provide you with any subsequent opinion or advice by reason of any fact
about which our Designated Transaction Lawyers did not have actual knowledge at that time, by
reason of any change subsequent to that time in any law covered by any of our opinions, or for any
other reason. The attached schedules are an integral part of this letter, and any term defined in
this letter or any schedule has that defined meaning wherever it is used in this letter or in any
schedule to this letter.

     You may rely upon this letter only for the purpose served by the provision in the Credit
Agreement cited in the second paragraph of this opinion letter in response to which it has been
delivered. Without our written consent: (i) no person other than you may rely on this opinion
letter for any purpose; (ii) this opinion letter may not be cited or quoted in any financial
statement, prospectus, private placement memorandum or other similar document; (iii) this opinion
letter may not be cited or quoted in any other document or communication which might encourage
reliance upon this opinion letter by any person or for any purpose excluded by the restrictions in
this paragraph; and (iv) copies of this opinion letter may not be furnished to anyone for purposes
of encouraging such reliance. Notwithstanding the foregoing, financial institutions which
subsequently become Lenders in accordance with the terms of Section 10.3 of the Credit Agreement
may rely on this opinion letter as of the time of its delivery on the date hereof as if this letter
were addressed to them.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	  	KIRKLAND & ELLIS LLP
 	 
	 	 	 	 
	 	 	 	 
	 

 

 

Schedule A

General Qualifications

     All of our opinions (“our opinions”) in the letter to which this Schedule is attached
(“our letter”) are subject to each of the qualifications set forth in this Schedule.

	1.	 	Bankruptcy and Insolvency Exception. Each of our opinions is subject to the
effect of bankruptcy, insolvency, reorganization, receivership, moratorium and other similar
laws relating to or affecting creditors’ rights generally. This exception includes:

     (a) the federal Bankruptcy Code and thus comprehends, among others, matters of turn-over,
automatic stay, avoiding powers, fraudulent transfer, preference, discharge, conversion of a
non-recourse obligation into a recourse claim, limitations on ipso facto and anti-assignment
clauses and the coverage of pre-petition security agreements applicable to property acquired after
a petition is filed;

     (b) all other federal and state bankruptcy, insolvency, reorganization, receivership,
moratorium, arrangement and assignment for the benefit of creditors laws that affect the rights of
creditors generally or that have reference to or affect only creditors of specific types of
debtors;

	 	(c)	 	state fraudulent transfer and conveyance laws; and
	 
	 	(d)	 	judicially developed doctrines in this area, such as substantive consolidation
of entities, equitable subordination and the recharacterization of debt.

	2.	 	Equitable Principles Limitation. Each of our opinions is subject to the
effect of general principles of equity, whether applied by a court of law or equity. This
limitation includes principles:

     (a) governing the availability of specific performance, injunctive relief or other equitable
remedies, which generally place the award of such remedies, subject to certain guidelines, in the
discretion of the court to which application for such relief is made;

     (b) affording equitable defenses (e.g., waiver, laches and estoppel) against a party seeking
enforcement;

     (c) requiring good faith and fair dealing in the performance and enforcement of a contract by
the party seeking its enforcement;

     (d) requiring reasonableness in the performance and enforcement of an agreement by the party
seeking enforcement of the contract;

     (e) requiring consideration of the materiality of (i) a breach and (ii) the consequences of
the breach to the party seeking enforcement;

     (f) requiring consideration of the commercial impracticability or impossibility of performance
at the time of attempted enforcement; and

     (g) affording defenses based upon the unconscionability of the enforcing party’s conduct after
the parties have entered into the contract.

A-1

 

     3. Other Common Qualifications. Each of our opinions is subject to the
effect of rules of law that:

     (a) limit or affect the enforcement of provisions of a contract that purport to waive, or to
require waiver of, the obligations of good faith, fair dealing, diligence and reasonableness;

     (b) provide that forum selection clauses in contracts are not necessarily binding on the
court(s) in the forum selected;

     (c) limit the availability of a remedy under certain circumstances where another remedy has
been elected;

     (d) provide a time limitation after which a remedy may not be enforced;

     (e) limit the right of a creditor to use force or cause a breach of the peace in enforcing
rights;

     (f) limit the enforceability of provisions releasing, exculpating or exempting a party from,
or requiring indemnification of a party for, liability for its own action or inaction, to the
extent the action or inaction involves negligence, recklessness, willful misconduct, unlawful
conduct, violation of public policy, for strict product liability or for liabilities arising under
securities laws or litigation against another party determined adversely to such party;

     (g) may, where less than all of a contract may be unenforceable, limit the enforceability of
the balance of the contract to circumstances in which the unenforceable portion is not an essential
part of the agreed exchange;

     (h) govern and afford judicial discretion regarding the determination of damages and
entitlement to attorneys’ fees and other costs;

     (i) may permit a party that has materially failed to render or offer performance required by
the contract to cure that failure unless (i) permitting a cure would unreasonably hinder the
aggrieved party from making substitute arrangements for performance, or (ii) it was important in
the circumstances to the aggrieved party that performance occur by the date stated in the contract;

     (j) may render guarantees or other similar instruments or agreements unenforceable under
circumstances where your actions, failures to act or waivers, amendments or replacement of the
Credit Agreement evidencing or relating to the guaranteed obligations (i) so radically change the
essential nature of the terms and conditions of the guaranteed obligations and the related
transactions that, in effect, a new relationship has arisen between you and the Borrower which is
substantially and materially different from that presently contemplated primary obligor; and by the
Credit Agreement or (ii) impair the guarantor’s recourse against the primary obligor;

     (k) limit the enforceability of requirements in the Credit Agreement that provisions therein
may only be waived or amended in writing, to the extent that an oral agreement or an implied
agreement by trade practice or course of conduct has been created modifying any such provision.

     4. Referenced Provision Qualification. Each provision (the “First
Provision”) in the Credit Agreement requiring the Borrower to perform its obligations under, or
to cause any other person to perform its obligations under, any other provision (the “Second
Provision”) of the Credit Agreement, or stating that any action will be taken as provided in or
in accordance with any such Second Provision, are

A-2

 

subject to the same qualifications as the corresponding opinion in this letter relating to the
validity, binding effect and enforceability of such Second Provision.

     5. Lender’s Regulatory Qualification. We express no opinion with respect
to, and our opinions are subject to, the effect of the compliance or noncompliance of each of you
with any state or federal laws or regulations applicable to you because of your legal or regulatory
status or the nature of your business or requiring you to qualify to conduct business in any
jurisdiction.

     6. Usury Qualification. We express no opinion with regard to usury or other
laws limiting or regulating the maximum amount of interest that may be charged, collected, received
or contracted for, other than the internal laws of the State of New York and, without limiting the
foregoing, we expressly disclaim any opinions as to the usury or other such laws of any other
jurisdiction (including laws of other states made applicable through principles of federal
preemption or otherwise) which may be applicable to the transactions contemplated by the Credit
Agreement.

A-3

 

Schedule B

Assumptions

     For purposes of our letter, we have relied, without investigation, upon each of the following
assumptions:

     1. You are existing and in good standing in your jurisdiction of organization.

     2. You have full power and authority (including without limitation under the laws of
your jurisdiction of organization) to execute, deliver and to perform your obligations under the
Credit Agreement and the Credit Agreement has been duly authorized by all necessary action on your
part and has been duly executed and duly delivered by you.

     3. The Credit Agreement constitutes valid and binding obligations of yours and are
enforceable against you in accordance with their terms (subject to qualifications, exclusions and
other limitations similar to those applicable to our letter).

     4. You have complied with all legal requirements pertaining to your status as such
status relates to your rights to enforce the Credit Agreement to which you are a party against the
Borrower.

     5. You have satisfied those legal requirements that are applicable to you to the
extent necessary to make the Credit Agreement enforceable against you.

     6. You have acted in good faith and without notice of any defense against the
enforcement of any rights created by, or adverse claim to any property or security interest
transferred or created as part of, the transactions effected under the Credit Agreement (herein
called the “Transactions”).

     7. Each document submitted to us for review is accurate and complete, each such
document that is an original is authentic, each such document that is a copy conforms to an
authentic original, and all signatures on each such document are genuine.

     8. Each certificate obtained from a governmental authority relied on by us is
accurate, complete and authentic, and all relevant official public records to which each such
certificate relates are accurate and complete.

     9. There has not been any mutual mistake of fact or misunderstanding, fraud, duress
or undue influence.

     10. The conduct of the parties to the Credit Agreement has complied with any
requirement of good faith, fair dealing and conscionability.

     11. With respect to the opinions set forth in paragraphs 6 and 7 of this letter, all
parties to the Transactions will act in accordance with, and will refrain from taking any action
that is forbidden by, the terms and conditions of the Credit Agreement.

     12. There are no agreements or understandings among the parties, written or oral,
and there is no usage of trade or course or prior dealing among the parties that would, in either
case, define, supplement or qualify the terms of the Credit Agreement.

B-1

 

     13. With respect to the opinions set forth in paragraphs 6 and 7 of this letter, the
Borrower will not in the future take any discretionary action (including a decision not to act)
permitted under the Credit Agreement that would result in a violation of law or constitute a breach
or default under any other agreements or court orders to which the Borrower may be subject.

     14. No Lender is subject to Regulation T of the Board of Governors of the Federal
Reserve System; and no proceeds of the Loans will be used for the purpose of acquiring “margin
securities” as such term is defined in Regulation U or for any purpose which would violate or be
inconsistent with the Credit Agreement.

     15. The constitutionality or validity of a relevant statute, rule, regulation or
agency action is not in issue.

     16. All agreements, other than the Credit Agreement (if any) with respect to which
we have provided advice in our letter or reviewed in connection with our letter, would be enforced
as written.

     17. With respect to the opinions set forth in opinion paragraphs 5, 6 and 7, we
assume the Borrower will in the future obtain all permits and governmental approvals required,
relevant to the consummation of the transactions to be consummated pursuant to the Credit Agreement
or performance of the Credit Agreement.

     18. All information required to be disclosed in connection with any consent or
approval by the board of directors or stockholders (or equivalent governing group) of the Borrower
and all other information required to be disclosed in connection with any issue relevant to our
opinions has in fact been fully and fairly disclosed to all persons to whom it is required to be
disclosed.

     19. The Borrower’s certificate of incorporation (or equivalent governing
instrument), all resolutions adopted establishing classes or series of stock or other equity
interests under that instrument, and the Borrower’s bylaws (or equivalent governing instrument)
(“Charter Documents”), and all amendments to such Charter Documents, have been adopted in
accordance with all applicable legal requirements.

     20. Each person who has taken any action relevant to any of our opinions in the
capacity of director or officer was duly elected to that director or officer position and held that
position when such action was taken.

B-2

 

Schedule C

Excluded Law and Legal Issues

     None of the opinions or advice contained in our letter covers or otherwise addresses any of
the following laws, regulations or other governmental requirements or legal issues:

     21. federal securities laws and regulations (including all other laws and
regulations administered by the United States Securities and Exchange Commission), state “Blue Sky”
laws and regulations, and laws and regulations relating to commodity (and other) futures and
indices and other similar instruments (except with respect to the Investment Company Act of 1940,
as amended, to the extent of our opinion in opinion paragraph 10);

     22. pension and employee benefit laws and regulations (e.g., ERISA);

     23. federal and state antitrust and unfair competition laws and regulations;

     24. compliance with fiduciary duty requirements;

     25. the statutes and ordinances, the administrative decisions and the rules and
regulations of counties, towns, municipalities and special political subdivisions and judicial
decisions to the extent that they deal with any of the foregoing;

     26. fraudulent transfer and fraudulent conveyance laws;

     27. federal patent, trademark and copyright, state trademark, and other federal and
state intellectual property laws and regulations;

     28. federal and state environmental, land use and subdivision, tax, racketeering
(e.g., RICO), health and safety (e.g., OSHA), and labor laws and regulations;

     29. any laws relating to terrorism or money laundering, including Executive Order
No. 13224, 66 Fed. Reg. 49079 (published September 25, 2001) (the “Terrorism Executive Order”) or
any related enabling legislation or any other similar executive order (collectively with the
Terrorism Executive Order, the “Executive Orders”), the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law
107-56, the “Patriot Act”), any sanctions and regulations promulgated under authority granted by
the Trading with the Enemy Act, 50 U.S.C. App. 1-44, as amended from time to time, the
International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06, as amended from time to time,
the Iraqi Sanctions Act, Publ. L. No. 101-513; United Nations Participation Act, 22 U.S.C. § 287c,
as amended from time to time, the International Security and Development Cooperation Act, 22 U.S.C.
§ 2349 aa-9, as amended from time to time, The Cuban Democracy Act, 22 U.S.C. §§ 6001-10, as
amended from time to time, The Cuban Liberty and Democratic Solidarity Act, 18 U.S.C. §§ 2332d and
2339b, as amended from time to time, and The Foreign Narcotics Kingpin Designation Act, Publ. L.
No. 106-120, as amended from time to time;

     30. the effect of any law, regulation or order which hereafter is enacted,
promulgated or issued;

C-1

 

     31. other than the specific opinion set forth in opinion paragraph 9, Federal
Reserve Board margin regulations;

     32. other than the specific opinion set forth in opinion paragraph 7, federal and
state laws and regulations concerning filing and notice requirements, other than requirements
applicable to charter-related documents such as a certificate of merger;

     33. federal and state laws, regulations and policies concerning (i) national and
local emergency, (ii) possible judicial deference to acts of sovereign states, and (iii) criminal
and civil forfeiture laws;

     34. other federal and state statutes of general application to the extent they
provide for criminal prosecution (e.g., mail fraud and wire fraud statutes); and

     35. the Communications Act and the rules, regulations and policies of the Federal
Communications Commission promulgated thereunder.

C-2

 

Schedule D

Excluded Provisions

     None of the opinions in the letter to which this Schedule is attached covers or otherwise
addresses any of the following types of provisions which may be contained in the Credit Agreement:

     36. Choice-of-law provisions, other than the selection of New York law under choice
of law rules in New York.

     37. Indemnification for negligence, willful misconduct or other wrongdoing or strict
product liability or any indemnification for liabilities arising under securities laws.

     38. Provisions mandating contribution towards judgments or settlements among various
parties.

     39. Waivers of (i) legal or equitable defenses, (ii) rights to damages, (iii) rights
to counter claim or set-off, (iv) statutes of limitations, (v) rights to notice, (vi) the benefits
of statutory, regulatory, or constitutional rights, unless and to the extent the statute,
regulation, or constitution explicitly allows waiver, (vii) broadly or vaguely stated rights, and
(viii) other benefits, in each case, to the extent they cannot be waived under applicable law.

     40. Provisions providing for forfeitures or the recovery of amounts deemed to
constitute penalties, or for liquidated damages, acceleration of future amounts due (other than
principal) without appropriate discount to present value, late charges, prepayment charges, and
increased interest rates upon default.

     41. Time-is-of-the-essence clauses.

     42. Provisions which provide a time limitation after which a remedy may not be
enforced.

     43. Agreements to submit to the jurisdiction of any particular court or other
governmental authority (either as to personal or subject matter jurisdiction); provisions
restricting access to courts; waiver of service of process requirements which would otherwise be
applicable; and provisions otherwise purporting to affect the jurisdiction and venue of courts.

     44. Provisions appointing one party as an attorney in fact for an adverse party or
providing that the decision of any particular person will be conclusive or binding on others.

     45. Provisions purporting to limit rights of third parties who have not consented
thereto or purporting to grant rights to third parties.

     46. Provisions which purport to award attorneys’ fees solely to one party.

     47. Provisions purporting to create a trust or constructive trust without compliance
with applicable trust law.

D-1

 

 

     48. Provisions in the Credit Agreement requiring the Borrower to perform its
obligations under, or to cause any other person to perform its obligations under, or stating that
any action will be taken as provided in or in accordance with, any other agreement.

     49. Provisions, if any, which are contrary to the public policy of any jurisdiction.

     50. Confession of judgment provisions.

     51. Provisions that attempt to change or waive rules of evidence or fix the method
or quantum of proof to be applied in litigation or similar proceedings.

     52. Provisions that provide for the appointment of a receiver.

     53. Provisions relating to the application of insurance proceeds and condemnation
awards.

     54. Provisions of the Credit Agreement insofar as they authorize you to set off and
apply any deposits at any time held, and any other indebtedness at any time owing, by you to or for
the account of the Borrower.

D-2

 

 

EXHIBIT B

FORM OF

ASSIGNMENT AND ACCEPTANCE

          Reference is made to the Credit Agreement dated as of July 15, 2011 (as the same may be
amended, supplemented or otherwise modified, renewed or replaced from time to time, the “Credit
Agreement”), among WYNDHAM WORLDWIDE CORPORATION (the “Borrower”), the Lenders referred
to therein, the Co-Documentation Agents, and the Syndication Agent named therein and Bank of
America, N.A., as Administrative Agent for the Lenders. Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement.

          The Assignor identified on Schedule l hereto (the “Assignor”) and the Assignee
identified on Schedule l hereto (the “Assignee”) agree as follows:

1. The Assignor hereby irrevocably sells and assigns to the Assignee without recourse to the
Assignor, and the Assignee hereby irrevocably purchases and assumes from the Assignor without
recourse to the Assignor, as of the Effective Date (as defined below), the interest described in
Schedule 1 hereto (the “Assigned Interest”) in and to the Assignor’s rights and obligations
under the Credit Agreement with respect to (a) its Revolving Commitment under the Credit Agreement
and its Revolving Credit Loans and/or (b) the Competitive Loan(s) at the time owing to it, in
either case, as are set forth on Schedule 1 hereto in the amount(s) as are set forth on Schedule 1
hereto, provided, however, it is expressly understood and agreed that (i) the
Assignor is not assigning to the Assignee and the Assignor shall retain (A) all of the Assignor’s
rights under Section 2.17 of the Credit Agreement with respect to any cost, reduction or payment
incurred or made prior to the Effective Date, including without limitation the rights to
indemnification and to reimbursement for taxes, costs and expenses and (B) any and all amounts paid
to the Assignor prior to the Effective Date and (ii) both Assignor and Assignee shall be entitled
to the benefits of Sections 10.4 and 10.5 of the Credit Agreement.

2. The Assignor (a) makes no representation or warranty and assumes no responsibility with respect
to any statements, warranties or representations made in or in connection with the Credit Agreement
or with respect to the execution, legality, validity, enforceability, genuineness, sufficiency or
value of the Fundamental Documents or any other instrument or document furnished pursuant thereto,
other than that it is the legal and beneficial owner of the interest being assigned by it hereunder
and that such interest is free and clear of any adverse claim and (b) makes no representation or
warranty and assumes no responsibility with respect to the financial condition of the Borrower or
the performance or observance by the Borrower of any of its obligations under the Credit Agreement
or any other Fundamental Document or any other instrument or document furnished pursuant hereto or
thereto.

3. The Assignee (a) represents and warrants that it is legally authorized to enter into this
Assignment and Acceptance; (b) confirms that it has received a copy of the Credit Agreement,
together with copies of the most recent financial statements delivered pursuant to Sections 5.1(a)

 

 

and 5.1(b) thereof (or if none of such financial statements shall have then been delivered, then
copies of the financial statements referred to in Section 3.4 thereof) and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into
this Assignment and Acceptance; (c) agrees that it will, independently and without reliance upon
the Assignor, the Administrative Agent or any Lender and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Credit Agreement; (d) appoints and authorizes the Administrative Agent to
take such action as agent on its behalf and to exercise such powers and discretion under the
Fundamental Documents as are delegated to the Administrative Agent by the terms thereof, together
with such powers as are incidental thereto; (e) agrees that it will be bound by the provisions of
the Credit Agreement and will perform in accordance with its terms all the obligations which by the
terms of the Credit Agreement are required to be performed by it as a Lender; and (f) if the
Assignee is organized under the laws of a jurisdiction outside the United States, attaches the
forms prescribed by the Internal Revenue Service of the United States certifying as to the
Assignee’s exemption from United States withholding taxes with respect to all payments to be made
to the Assignee under the Credit Agreement, or such other documents as are necessary to indicate
that all such payments are subject to such tax at a rate reduced by an applicable tax treaty.

4. Following the execution of this Assignment and Acceptance, it will be delivered to the
Administrative Agent for acceptance by it and recording by the Administrative Agent pursuant to
Section 10.3 of the Credit Agreement, effective as of the Effective Date (which shall not, unless
otherwise agreed to by the Administrative Agent, be earlier than five Business Days after the date
of acceptance and recording by the Administrative Agent) of the executed Assignment and Acceptance.

5. Upon such acceptance and recording, from and after the Effective Date, the Administrative Agent
shall make all payments in respect of the Assigned Interest (including payments of principal,
interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to the
Effective Date or accrue subsequent to the Effective Date. The Assignor and the Assignee shall
make all appropriate adjustments in payments by the Administrative Agent for periods prior to the
Effective Date or with respect to the making of this assignment directly between themselves.

6. From and after the Effective Date, (a) the Assignee shall be a party to the Credit Agreement
and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of a
Lender thereunder and under the other Fundamental Documents and shall be bound by the provisions
thereof and (b) the Assignor shall, to the extent provided in this Assignment and Acceptance,
relinquish its rights and be released from its obligations under the Credit Agreement.

7. This Assignment and Acceptance shall be governed by and construed in accordance with the laws of
the State of New York.

8. This Assignment and Acceptance may be executed in counterparts, each of which shall be deemed to
constitute an original, but all of which when taken together shall constitute one and the same
instrument.

2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Acceptance to be
executed as of the date first above written by their respective duly authorized officers on
Schedule 1 hereto.

3

 

Schedule 1

to Assignment and Acceptance with respect to
the Credit Agreement dated as of July 15, 2011, among WYNDHAM WORLDWIDE CORPORATION (the
“Borrower”), the Lenders referred to therein, the Co-Documentation Agents, the Syndication Agent
named therein and Bank of America, N.A., as Administrative Agent

Legal Name of Assignor: _______________________

Legal Name of Assignee: _______________________

Effective Date of Assignment: ___________________

IF THE ASSIGNOR IS ASSIGNING ITS

REVOLVING COMMITMENT AND ITS REVOLVING CREDIT LOANS

	 	 	 	 	 

	Assignor’s Revolving Commitment (without giving effect to
any assignments thereof which have not yet become effective):
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	The outstanding balance of Revolving Credit Loans owing to
Assignor (unreduced by any assignments thereof which have not
yet become effective):
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	The Assignor’s pro rata share of the L/C Exposure (unreduced by
any assignments thereof which have not yet become effective):
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Amount of the Assignor’s Revolving Commitment Assigned
(including a proportionate share of the Revolving Credit Loans
owing to Assignor and its rights and obligations with regard to
Letters of Credit); which must be $5,000,000 or
more1 (or, if less, the remaining portion of the
Assignor’s rights and obligations under the Credit Agreement):
	 	$	 	 
	 
	 	 	 

 

			
	1	 	Unless otherwise agreed by the Borrower and
the Administrative Agent.

 

 

IF THE ASSIGNOR IS ASSIGNING ITS

COMPETITIVE LOANS

	 	 	 	 	 

	The outstanding balance of Competitive Loans owed to Assignor
(unreduced by any assignments thereof which have not yet become
effective):

	 	 	$	 
	 

	 	 	 	 
	 
	 	 	 	 
	The Competitive Loans being assigned hereby:
	 	 	 	 
	 
	 	 	 	 
	(i) Principal Amount:

	 	 	$	 
	 

	 	 	 	 
	 
	 	 	 	 
	(ii) Interest Rate Type:

	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	(iii) Interest Period and last day thereof:

	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	(iv) Amount of such Loan being assigned (must be $5,000,000 or
more)

	 	 	$	 
	 

	 	 	 	 

Accepted:

	 	 	 	 	 

	BANK OF AMERICA, N.A., as

Administrative Agent

	 	____________________, as Assignor
	 
	 	 	 	 
	By: 
	 	 	By: 	 
	 	Name:

	 	 	Name:
	 	Title:

	 	 	Title:
	 
	 	 	 	 
	 

	 	 	____________________, as Assignee
	 
	 	 	 	 
	 

	 	 	By: 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

[Consented to:2

WYNDHAM WORLDWIDE CORPORATION, as

Borrower

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:	 	 
	 	 	Title:]	 	 
	 

 

			
	2	 	The consent of the Borrower shall not be
required so long as an Event of Default has occurred and is continuing.

2

 

EXHIBIT C

FORM OF

COMPLIANCE CERTIFICATE

          This Compliance Certificate is delivered pursuant to Section 5.1(c) of the Credit Agreement
dated as of July 15, 2011 (as the same may be amended, supplemented or otherwise modified, renewed
or replaced from time to time, the “Credit Agreement”), among WYNDHAM WORLDWIDE CORPORATION
(the “Borrower”), the Lenders referred to therein, the Co-Documentation Agents, and the
Syndication Agent named therein and Bank of America, N.A., as Administrative Agent for the Lenders.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have
the meanings given to them in the Credit Agreement.

          1. I am the duly elected, qualified and acting [Chief Financial Officer] of the Borrower.

          2. I have reviewed and am familiar with the contents of this Compliance Certificate.

          3. I have reviewed the terms of the Credit Agreement and the Fundamental Documents and have
made or caused to be made under my supervision, a review in reasonable detail of the transactions
and condition of the Borrower during the accounting period covered by the financial statements
attached hereto as Attachment 1 (the “Financial Statements”). Such review did not
disclose the existence during or at the end of the accounting period covered by the Financial
Statements, and I have no knowledge of the existence, as of the date of this Compliance
Certificate, of any condition or event which constitutes a Default or Event of Default [, except as
set forth below].

          4. Attached hereto as Attachment 2 are the computations showing compliance with the
covenants set forth in Section 6.5 and 6.6 of the Credit Agreement.

          The foregoing certifications, together with the computations and comparisons set forth in
the attachment hereto and the financial statements attached to this Compliance Certificate in
support hereof, are made and delivered this ___ day of _____________, ______ pursuant to Section
5.1(c) of the Credit Agreement.

          IN WITNESS WHEREOF, I have executed this Compliance Certificate this _____ day of ____, 201_.

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	[Chief Financial Officer] 	 

 

 

	 	 	 	 	 

Attachment 1

to Compliance Certificate

[Attach Financial Statements]

 

 

Attachment 2

to Compliance Certificate

          The information described herein is as of ______, ____, and pertains to the period from
_________, ____ to ________________ __, ___.

          [Set forth Covenant Calculations]

 

 

EXHIBIT D-1

FORM OF

COMPETITIVE BID REQUEST

Bank of America, N.A., as Administrative Agent
for the Lenders referred to below

[          ]

[          ]

Attention: ____________________                    [Date]

Ladies and Gentlemen:

          The undersigned, Wyndham Worldwide Corporation (the “Borrower”), refers to the Credit
Agreement dated as of July 15, 2011 (as the same may be amended, supplemented or otherwise
modified, renewed or replaced from time to time, the “Credit Agreement”), among the
Borrower, the Lenders referred to therein, the Co-Documentation Agents, and the Syndication Agent
named therein and Bank of America, N.A., as Administrative Agent. Capitalized terms used herein
and not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement. The Borrower hereby gives you notice pursuant to Section 2.7(a) of the Credit Agreement
that it requests a Competitive Borrowing under the Credit Agreement and in that connection sets
forth below the terms on which such Competitive Borrowing is requested to be made:

	 	 	 	 	 	 	 	 	 

	 	(A	)	 	Date of the Competitive
Borrowing (which is a Business Day)
	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	(B	)	 	Principal Amount of the Competitive
Borrowing1
	 	$	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	(C	)	 	Interest Rate Type2 of
the Competitive Borrowing
	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	(D	)	 	Interest Period with respect to the
Competitive Borrowing and the last day
of such Interest Period3
	 	 	 	 
	 	 	 	 	 
	 	 	 

 

			
	1	 	Shall not be less than $10,000,000 (or the
Dollar Equivalent thereof) and must be in an integral multiple of $5,000,000
(or the Dollar Equivalent thereof) (or if less, an aggregate principal amount
equal to the remaining balance of the available Total Revolving Commitment).
	 
	2	 	LIBOR Borrowing or Fixed Rate Borrowing.
	 
	3	 	Shall be subject to the definition of
“Interest Period” and shall not end later than the Maturity Date.

 

 

	 	 	 	 	 	 	 	 	 

	 	(E	)	 	Currency with respect to the
Competitive Borrowing
	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	(F	)	 	Funding location of the Competitive
Borrowing [Local Competitive Loans
only]
	 	 	 	 
	 	 	 	 	 
	 	 	 

2

 

          Upon acceptance of any or all of the Competitive Loans offered by the Lenders in response
to this request, the Borrower shall be deemed to have represented and warranted that the conditions
to each Loan specified in Sections 4.2(b) and 4.2(c) of the Credit Agreement have been satisfied.

	 	 	 	 	 
	 	Very truly yours,

WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

3

 

EXHIBIT D-2

FORM OF

COMPETITIVE BID INVITATION

	 	 	 

	[Name of Lender]
	 	 
	[Address]
	 	 
	 
	 	 
	Attention:

	 	[Date]

Ladies and Gentlemen:

          Reference is hereby made to the Credit Agreement dated as of July 15, 2011 (as the same may be
amended, supplemented or otherwise modified, renewed or replaced from time to time, the “Credit
Agreement”), among Wyndham Worldwide Corporation (the “Borrower”), the Lenders referred
to therein, the Co-Documentation Agents, and the Syndication Agent named therein and Bank of
America, N.A., as Administrative Agent. Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned to such terms in the Credit Agreement. The Borrower made a
Competitive Bid Request on _____, 201_, pursuant to Section 2.7(a) of the Credit Agreement, and in
that connection you are invited to submit a Competitive Bid by [Date]/[Time].1
Your Competitive Bid must comply with Section 2.7(b) of the Credit Agreement and the terms set
forth below on which the Competitive Bid Request was made:

	 	 	 

	(A) Date of the Competitive Borrowing
	 	                    
	 
	 	 
	(B) Principal Amount of the Competitive Borrowing
	 	$                  
	 
	 	 
	(C) Interest Rate Type of the
Competitive Borrowing
	 	                    

 

			
	1	 	The Competitive Bid must be received by the
Administrative Agent via telecopier (i) in the case of a request for a LIBOR
Competitive Borrowing, not later than 9:30 a.m., New York City time, three
Business Days before a proposed Competitive Borrowing, (ii) in the case of a
request for a Local Fixed Rate Competitive Borrowing, not later than 9:30 a.m.,
New York City time, three Business Days before the proposed Competitive
Borrowing and (iii) in the case of a request for a Domestic Fixed Rate
Competitive Borrowing, not later than 9:30 a.m., New York City time, three
Business Days before the proposed Competitive Borrowing.

 

	 	 	 

	(D) Interest Period with respect to the Competitive
Borrowing and the last day of such Interest Period

	 	                    
	 
	 	 
	(E) Currency with respect to the Competitive
Borrowing

	 	                    
	 
	 	 
	(F) Funding location of the Competitive

	 	                    
	Borrowing [Local Competitive Loans only]

	 	                    

2

 

	 	 	 	 	 
	 	

Very truly yours,

BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

3

 

EXHIBIT D-3

FORM OF

COMPETITIVE BID

	 	 	 

	Bank of America, N.A. as Administrative Agent
     for the Lenders referred to below
	 	 
	[     ]
	 	 
	[     ]
	 	 
	 
	 	 
	Attention: ____________________

	 	[Date]

Ladies and Gentlemen:

          The undersigned, [Name of Lender], refers to the Credit Agreement dated as of July 15, 2011
(as the same may be amended, supplemented or otherwise modified, renewed or replaced from time to
time, the “Credit Agreement”), among Wyndham Worldwide Corporation (the
“Borrower”), the Lenders referred to therein, the Co-Documentation Agents, and the
Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement. The undersigned hereby makes a Competitive Bid pursuant to Section 2.7(b)
of the Credit Agreement in response to the Competitive Bid Request made by the Borrower on _______,
201_, and in that connection sets forth below the terms on which such Competitive Bid is made:

	 	 	 
	(A) Principal amount of the Competitive Loan(s) that the
undersigned is willing to make1
	 	$                  
	 
	 	 
	(B) Competitive Bid Rate(s)2
at which the undersigned is willing to make the Competitive Loan(s)
	 	                    
	 
	 	 
	(C) Interest Period(s) with respect to the Competitive Loan(s)
	 	                    
	 
	 	 
	and the last day of such Interest Period(s)
	 	                    

 

			
	1	 	Shall not be less than $10,000,000 (or the
Dollar Equivalent thereof) nor greater than the requested Competitive Borrowing
and shall be in an integral multiple of $5,000,000 (or the Dollar Equivalent
thereof). Multiple bids will be accepted by the Administrative Agent.
	 
	2	 	i.e., + or - .__%, in the case of a LIBOR
Loan (such percentage to be added to, or subtracted from, LIBOR in order to
determine the applicable interest rate) or ____ %, in the case of a Fixed Rate
Loan.

 

	 	 	 

	[(D) Funding Office Contact Information
[Local Competitive Loans only]

	 	                    ]

2

 

          The undersigned hereby confirms that it shall, subject to the terms and conditions set
forth in the Credit Agreement, extend credit to the Borrower upon acceptance by the Borrower of
this bid in accordance with Section 2.7(d) of the Credit Agreement.

	 	 	 	 	 
	 	

Very truly yours,

[NAME OF LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

3

 

EXHIBIT D-4

FORM OF

COMPETITIVE BID ACCEPT/REJECT LETTER

	 	 	 

	 

	 	[Date]
	Bank of America, N.A., as Administrative Agent
     for the Lenders referred to below
	 	 
	[     ]
	 	 
	[     ]
	 	 
	 
	 	 
	Attention: ____________________
	 	 

Ladies and Gentlemen:

          The undersigned, Wyndham Worldwide Corporation (“we” or the “Borrower”),
refers to the Credit Agreement dated as of July 15, 2011 (as the same may be amended, supplemented
or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”),
among the Borrower, the Lenders referred to therein, the Co-Documentation Agents and the
Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement.

          In accordance with Section 2.7(c) of the Credit Agreement, we have been notified of the
Competitive Bids made in connection with our Competitive Bid Request dated ______, 201_ and in
accordance with Section 2.7(d) of the Credit Agreement, we hereby accept the following bids for
Competitive Loans(s) with a maturity on [date]:

	 	 	 	 	 
	 	 	Competitive Bid Rate (i.e.	 	 
	     [Principal Amount	 	Fixed Rate/Margin)	 	Lender
	     $
	 	[%]/[+/-.   %]	 	 
	     $
	 	 	 	 
	 
	 	 	 	 
	     Total $_____]
	 	 	 	 
	 
	 	 	 	 
	We hereby reject the following bids:
	 	 	 	 

	 	 	 	 	 
	 	 	Competitive Bid Rate (i.e.	 	 
	     [Principal Amount	 	Fixed Rate/Margin)	 	Lender
	     $
	 	[%]/[+/-.   %]	 	 
	     $
	 	 	 	 
	     Total $_____]
	 	 	 	 

 

          The total amount of the bids accepted ($ _____) should be deposited on [date] in account
number _______, maintained at Bank of America, N.A.

	 	 	 	 	 
	 	

Very truly yours,

[WYNDHAM WORLDWIDE CORPORATION]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

2

 

EXHIBIT E

FORM OF

REVOLVING CREDIT BORROWING REQUEST

	 	 	 

	Bank of America, N.A., as Administrative Agent
     for the Lenders referred to below,

[     ]
	 	 
	[     ]
	 	 
	Attention: ____________________

	 	[Date]

Ladies and Gentlemen:

          The undersigned, [Wyndham Worldwide Corporation (the “Borrower”)][[Insert Name of
Domestic Subsidiary Borrower] (the “Domestic Subsidiary Borrower”)], refers to Credit
Agreement dated as of July 15, 2011 (as the same may be amended, supplemented or otherwise
modified, renewed or replaced from time to time, the “Credit Agreement”), among Wyndham
Worldwide Corporation, the Lenders referred to therein, the Co-Documentation Agents, and the
Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement. The [Domestic Subsidiary] Borrower hereby gives you notice pursuant to
Section 2.3 of the Credit Agreement that it requests a Revolving Credit Borrowing under the Credit
Agreement and in that connection sets forth below the terms on which such Revolving Credit
Borrowing is requested to be made:

	 	 	 

	(A) Date of the Revolving Credit Borrowing (which is a Business
Day)

	 	                    
	 
	 	 
	(B) Principal Amount of the Revolving Credit Borrowing1

	 	$                  
	 
	 	 
	(C) Interest Rate Type of the Revolving Credit
Borrowing2

	 	                    
	 
	 	 
	(D) Interest Period(s) with respect to the LIBOR Loan(s) and the last
day of

	 	                    

 

			
	1	 	Shall (a) in the case of ABR Loans, be in an
integral multiple of $500,000 and not less than $5,000,000 and (b) in the case
of LIBOR Loans, be in an integral multiple of $1,000,000 and not less than
$5,000,000 (or, in the case of clause (a) and clause (b) above with respect to
Revolving Credit Loans, if less, an aggregate principal amount equal to the
remaining balance of the available Total Revolving Commitment).
	 
	2	 	LIBOR Borrowing or ABR Borrowing.

 

	 	 	 

	such Interest Period(s)3

	 	 
	 
	 	 
	(E) Currency with respect to the Revolving Credit Borrowing4
	 	 

          Upon acceptance of the Revolving Credit Loans to be made by the Lenders in response to
this request, the [Domestic Subsidiary] Borrower shall be deemed to have represented and warranted
that the conditions to each Loan specified in Sections 4.2(b) and 4.2(c) [and 4.2(d)] of the Credit
Agreement have been satisfied.

	 	 	 	 	 
	 	

Very truly yours,

[WYNDHAM WORLDWIDE CORPORATION]

[NAME OF DOMESTIC SUBSIDIARY BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	3	 	Shall be subject to the definition of
“Interest Period” and shall not end later than the Maturity Date. [Complete
only in the case where LIBOR Loan(s) are being requested.]
	 
	4	 	Dollars or any Optional Currency.

2

 

EXHIBIT F

FORM OF

JOINDER AGREEMENT

          JOINDER AGREEMENT, dated as of ___, 201_ (this “Joinder Agreement”), made by the
Subsidiary of Wyndham Worldwide Corporation (the “Borrower”) signatory hereto (each a
“New Subsidiary Borrower”) and the Borrower [and [insert names of other existing Subsidiary
Borrowers]], in favor of Bank of America, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders referred to in the Credit Agreement dated as of
July 15, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Borrower, the Lenders referred to therein, the Co-Documentation Agents,
and the Syndication Agent named therein and the Administrative Agent.

W I T N E S S E T H:

          WHEREAS, the parties to this Joinder Agreement wish to add the New Subsidiary Borrower to the
Credit Agreement in the manner hereinafter set forth; and

          WHEREAS, this Joinder Agreement is entered into pursuant to subsection 10.9(b)(i) of the
Credit Agreement;

          NOW, THEREFORE, in consideration of the premises, the parties hereto hereby agree as follows:

          1. The New Subsidiary Borrower, hereby acknowledges that it has received and reviewed a copy
of the Credit Agreement, and acknowledges and agrees to:

     (A) JOIN THE CREDIT AGREEMENT AS A SUBSIDIARY BORROWER, AS INDICATED WITH
ITS SIGNATURE BELOW;

     (B) BE BOUND BY ALL COVENANTS, AGREEMENTS AND ACKNOWLEDGMENTS ATTRIBUTABLE
TO A SUBSIDIARY BORROWER IN THE CREDIT AGREEMENT; AND

     (C) PERFORM ALL OBLIGATIONS AND DUTIES REQUIRED OF IT BY THE CREDIT
AGREEMENT.

          2. The New Subsidiary Borrower represents and warrants that the representations and
warranties contained Section 3 of the Credit Agreement (other than Section 3.4 and 3.5) as they
relate to such New Subsidiary Borrower or which are contained in any certificate furnished by or on
behalf of such New Subsidiary Borrower are true and correct on the date hereof.

          3. The address, taxpayer identification number and jurisdiction of organization of each of
the New Subsidiary Borrower is set forth in Annex I to this Joinder Agreement.

          4. The Borrower [and each other Subsidiary Borrower] hereby acknowledges and agrees that the
Guaranty contained in Section 9 of the Credit Agreement covers the Obligations of the New
Subsidiary Borrower.

 

 

          5. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS
THEREOF.

2

 

     IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to be duly
executed and delivered by its proper and duly authorized officer as of the day and year first above
written.

	 	 	 	 	 
	 	[NEW SUBSIDIARY BORROWER],

as the New Subsidiary Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[OTHER SUBSIDIARIES OF WYNDHAM, as existing

Subsidiary Borrower(s)]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	ACKNOWLEDGED AND AGREED TO:

BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

3

 

	 	 	 	 	 

EXHIBIT G-1

FORM OF

NEW REVOLVING LENDER SUPPLEMENT

          Reference is made to the Credit Agreement dated as of July 15, 2011 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among Wyndham Worldwide
Corporation (the “Borrower”), the Lenders referred to therein, the Co-Documentation Agents,
and the Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the
meanings given to them in the Credit Agreement.

          The New Lender identified on Schedule l hereto (the “New Lender”), the Administrative
Agent and the Borrower agree as follows:

          1. The New Lender hereby irrevocably makes a Revolving Commitment available to the
Borrower in the amount set forth on Schedule 1 hereto (the “New Commitment”) pursuant to
Section 2.14(e) of the Credit Agreement, as applicable. From and after the Effective Date (as
defined below), the New Lender will be a Lender under the Credit Agreement with respect to the New
Commitment.

          2. The Administrative Agent (a) makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in
connection with the Credit Agreement or with respect to the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit Agreement; and (b) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Borrower, any of its Subsidiaries or any other obligor or the performance or observance by the
Borrower, any of its Subsidiaries or any other obligor of any of their respective obligations under
the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto.

          3. The New Lender (a) represents and warrants that it is legally authorized to enter into this
New Revolving Lender Supplement; (b) confirms that it has received a copy of the Credit Agreement,
together with copies of the most recent financial statements delivered pursuant to Section 5.1 of
the Credit Agreement (or, if no such financial statements have been delivered, copies of the
financial statements delivered pursuant to Section 3.4 thereof) and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into
this New Revolving Lender Supplement; (c) agrees that it will, independently and without reliance
upon the Administrative Agent or any other Lender and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Credit Agreement or any other instrument or document furnished pursuant
hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as
agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any
other instrument or document furnished

 

 

pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (e) agrees that it will be bound by the
provisions of the Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender.

          4. The effective date of this New Revolving Lender Supplement shall be the Effective Date of
the New Commitment described in Schedule 1 hereto (the “Effective Date”). Following the
execution of this New Revolving Lender Supplement by each of the New Lender and the Borrower, it
will be delivered to the Administrative Agent for acceptance and recording by it pursuant to the
Credit Agreement, effective as of the Effective Date (which shall not, unless otherwise agreed to
by the Administrative Agent, be earlier than five Business Days after the date of such acceptance
and recording by the Administrative Agent).

          5. Upon such acceptance and recording, from and after the Effective Date, the Administrative
Agent shall make all payments in respect of the New Commitment (including payments of principal,
interest, fees and other amounts) to the New Lender for amounts which have accrued on and
subsequent to the Effective Date.

          6. From and after the Effective Date, the New Lender shall be a party to the Credit Agreement
and, to the extent provided in this New Revolving Lender Supplement, have the rights and
obligations of a Lender thereunder and shall be bound by the provisions thereof.

          7. This New Revolving Lender Supplement shall be governed by and construed in accordance with
the laws of the State of New York.

          IN WITNESS WHEREOF, the parties hereto have caused this New Revolving Lender Supplement
to be executed as of the date first above written by their respective duly authorized officers on
Schedule 1 hereto.

2

 

Schedule 1

to New Revolving Lender Supplement

	 	 	 

	Name of New Lender:
	 	 
	 

	 	 

	 	 	 
	Effective Date of New Commitment:
	 	 
	 

	 	 

	 	 	 
	Principal Amount of New Commitment: $
	 	 
	 

	 	 

	 	 	 	 	 	 	 	 	 	 	 

	[NAME OF NEW LENDER]	 	 	 	WYNDHAM WORLDWIDE CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Name:
	 	 	 	 	 	 

Name:
	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 

	 	 	 	 	 
	Accepted: 

BANK OF AMERICA, N.A., 

as Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT G-2

FORM OF

NEW INCREMENTAL LENDER SUPPLEMENT1

          Reference is made to the Credit Agreement dated as of July 15, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Wyndham Worldwide Corporation (the “Borrower”), the Lenders referred to therein, the
Co-Documentation Agents, and the Syndication Agent named therein and Bank of America, N.A., as
Administrative Agent. Unless otherwise defined herein, terms defined in the Credit Agreement and
used herein shall have the meanings given to them in the Credit Agreement.

          The Incremental Lender identified on Schedule l hereto (the “Incremental Lender”), the
Administrative Agent and the Borrower agree as follows:

          1. The Incremental Lender hereby irrevocably agrees to make an Incremental Term Loan to
the Borrower in the amount set forth on Schedule 1 hereto (its “Incremental Commitment”)
pursuant to Section 2.28 of the Credit Agreement. From and after the Effective Date (as defined
below), the Incremental Lender will be a Lender under the Credit Agreement with respect to its
Incremental Commitment.

          2. The Administrative Agent (a) makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in
connection with the Credit Agreement or with respect to the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit Agreement; and (b) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Borrower, any of its Subsidiaries or any other obligor or the performance or observance by the
Borrower, any of its Subsidiaries or any other obligor of any of their respective obligations under
the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto.

          3. The Incremental Lender (a) represents and warrants that it is legally authorized to enter
into this Incremental Lender Supplement; (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.1 of the Credit Agreement (or, if no such financial statements have been delivered,
copies of the financial statements delivered pursuant to Section 3.4 thereof) and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Incremental Lender Supplement; (c) agrees that it will, independently and
without reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement or any

 

			
	1	 	This Supplement may be revised as appropriate
to provide for multiple Incremental Lenders signing this Agreement.

 

 

other instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes
the Administrative Agent to take such action as agent on its behalf and to exercise such powers and
discretion under the Credit Agreement or any other instrument or document furnished pursuant hereto
or thereto as are delegated to the Administrative Agent by the terms thereof, together with such
powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the
Credit Agreement and will perform in accordance with its terms all the obligations which by the
terms of the Credit Agreement are required to be performed by it as a Lender.

          4. The effective date of this Incremental Lender Supplement shall be the Effective Date
described in Schedule 1 hereto (the “Effective Date”). Following the execution of this
Incremental Lender Supplement by each of the Incremental Lender and the Borrower, it will be
delivered to the Administrative Agent for acceptance and recording by it pursuant to the Credit
Agreement, effective as of the Effective Date (which shall not, unless otherwise agreed to by the
Administrative Agent, be earlier than five Business Days after the date of such acceptance and
recording by the Administrative Agent).

          5. Upon such acceptance and recording by the Administrative Agent, from and after the
Effective Date, the Administrative Agent shall make all payments in respect of the Incremental
Commitment (including payments of principal, interest, fees and other amounts) to the Incremental
Lender for amounts which have accrued on and subsequent to the Effective Date.

          6. From and after the Effective Date, the Incremental Lender shall be a party to the Credit
Agreement and, to the extent provided in this Incremental Lender Supplement, have the rights and
obligations of a Lender thereunder and shall be bound by the provisions thereof.

          7. This Incremental Lender Supplement shall be governed by and construed in accordance with
the laws of the State of New York.

          IN WITNESS WHEREOF, the parties hereto have caused this Incremental Lender Supplement to
be executed as of the date first above written by their respective duly authorized officers on
Schedule 1 hereto.

2

 

Schedule 1

to Incremental Lender Supplement

	 	 	 

	Name of Incremental Lender:
	 	 
	 

	 	 

	 	 	 
	Effective Date::
	 	 
	 

	 	 

	 	 	 
	Principal Amount of Incremental Term Loan: $
	 	 
	 

	 	 

Terms of Incremental Term Loan:

[Maturity]

[Interest Rate/Pricing]

[Other Terms]

	 	 	 	 	 	 	 	 	 	 	 

	[NAME OF INCREMENTAL LENDER]	 	 	 	WYNDHAM WORLDWIDE CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Name:
	 	 	 	 	 	 

Name:
	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 

	 	 	 	 	 
	Accepted: 

BANK OF AMERICA, N.A., 

as Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT H

FORM OF

COMMITMENT INCREASE SUPPLEMENT

          Reference is made to the Credit Agreement dated as of July 15, 2011 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among Wyndham Worldwide
Corporation (the “Borrower”), the Lenders referred to therein, the Co-Documentation Agents,
and the Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the
meanings given to them in the Credit Agreement.

          The Increasing Lender identified on Schedule l hereto (the “Increasing Lender”), the
Administrative Agent and the Borrower agree as follows:

     1. The Increasing Lender hereby irrevocably increases its Revolving Commitment to the
Borrower by the amount set forth on Schedule 1 hereto (the “Increased Commitment”) pursuant
to Section 2.14(f) of the Credit Agreement. From and after the Effective Date (as defined below),
the Increasing Lender will be a Lender under the Credit Agreement with respect to the Increased
Commitment as well as its existing Revolving Commitment under the Credit Agreement.

     2. The Administrative Agent (a) makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in
connection with the Credit Agreement or with respect to the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit Agreement; and (b) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Borrower, any of its Subsidiaries or any other obligor or the performance or observance by the
Borrower, any of its Subsidiaries or any other obligor of any of their respective obligations under
the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto.

     3. The Increasing Lender (a) represents and warrants that it is legally authorized to enter
into this Commitment Increase Supplement; (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.1 of the Credit Agreement (or, if no such financial statements have been delivered,
copies of the financial statements delivered pursuant to Section 3.4 thereof) and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Commitment Increase Supplement; (c) agrees that it will, independently and
without reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement or any other instrument or document
furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take
such action as agent on its behalf and to exercise such powers

 

and discretion under the Credit Agreement or any other instrument or document furnished
pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (e) agrees that it will be bound by the
provisions of the Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender.

     4. The effective date of this Commitment Increase Supplement shall be the Effective Date of
the Increased Commitment described in Schedule 1 hereto (the “Effective Date”). Following
the execution of this Commitment Increase Supplement by each of the Increasing Lender and the
Borrower, it will be delivered to the Administrative Agent for acceptance and recording by it
pursuant to the Credit Agreement, effective as of the Effective Date (which shall not, unless
otherwise agreed to by the Administrative Agent, be earlier than five Business Days after the date
of such acceptance and recording by the Administrative Agent).

     5. Upon such acceptance and recording, from and after the Effective Date, the Administrative
Agent shall make all payments in respect of the Increased Commitment (including payments of
principal, interest, fees and other amounts) to the Increasing Lender for amounts which have
accrued on and subsequent to the Effective Date.

     6. From and after the Effective Date, the Increasing Lender shall be a party to the Credit
Agreement and, to the extent provided in this Commitment Increase Supplement, have the rights and
obligations of a Lender thereunder and shall be bound by the provisions thereof.

     7. This Commitment Increase Supplement shall be governed by and construed in accordance with
the laws of the State of New York.

          IN WITNESS WHEREOF, the parties hereto have caused this Commitment Increase Supplement to
be executed as of the date first above written by their respective duly authorized officers on
Schedule 1 hereto.

2

 

Schedule 1

to Commitment Increase Supplement

	 	 	 

	Name of Increasing Lender:
	 	 
	 

	 	 

	 	 	 
	Effective
Date of Increased
Commitment14:
	 	 
	 

	 	 

	 	 	 
	Principal	 	Total Amount of Revolving Commitment
	Amount of	 	of Increasing Lender
	Increased Commitment:	 	(including Increased Commitment):
	$_____________________
	 	$_____________________

	 	 	 	 	 	 	 	 	 	 	 

	[NAME OF INCREASING LENDER]	 	 	 	WYNDHAM WORLDWIDE CORPORATION	 	 
	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Name:
	 	 	 	 	 	 

Name:
	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 

	 	 	 	 	 
	Accepted:

BANK OF AMERICA, N.A., 

as Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 

			
	14	 	Date to be provided by the Administrative
Agent upon its execution.

 

EXHIBIT I

FORM OF

AUSTRALIAN LOCAL FACILITY AMENDMENT

See Attached.

 

 

LOCAL FACILITY AMENDMENT NO. 1

          This Local Facility Amendment No. 1, dated as of July 15, 2011 (this “Amendment”), to
the Credit Agreement, dated as of July 15, 2011 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”) among WYNDHAM WORLDWIDE CORPORATION
(the “Borrower”), the several lenders from time to time parties thereto (the
“Lenders”), BANK OF AMERICA, N.A., as administrative agent (the “Administrative
Agent”), and the other Agents named therein.

W I T N E S S E T H:

          WHEREAS, pursuant to Section 2.27 of the Credit Agreement, the Borrower has requested the
establishment of an Australian Dollar subfacility pursuant to which Revolving Loans denominated in
Dollars or Australian Dollars up to the Dollar Equivalent amount of $250,000,000 (the
“Australian Dollar Subfacility”) may be provided by the Lenders that are signatories hereto
and their permitted assignees (the “Australian Dollar Subfacility Lenders”); and

          WHEREAS, the Administrative Agent and the Australian Dollar Subfacility Lenders are willing to
agree to the establishment of such Australian Dollar Subfacility and to this Amendment to the
Credit Agreement in connection therewith, subject to the terms and conditions set forth herein;

          NOW, THEREFORE, the parties hereto hereby agree as follows:

     1. Defined Terms. Unless otherwise defined herein, capitalized terms are used herein
as defined in the Credit Agreement.

     2. Australian Dollar Subfacility. (a) Pursuant to Section 2.27 of the Credit
Agreement, the Australian Dollar Subfacility Lenders hereby agree to establish the Australian
Dollar Subfacility and designate the respective portions of their Revolving Commitments listed on
Schedule 2(a) hereto or in any applicable Assignment and Acceptance to make Revolving Loans
denominated in Dollars or Australian Dollars (the “Australian Dollar Subfacility Loans”) to
the Borrower (as to each Australian Dollar Subfacility Lender, as reduced from time to time, its
“Australian Dollar Subfacility Commitment”). The Australian Dollar Subfacility shall be a
subfacility of the Revolving Commitments. No Australian Dollar Subfacility Loans may be made if,
after giving effect thereto, (i) the Dollar Equivalent amount of the Australian Dollar Subfacility
Loans exceeds the aggregate Australian Dollar Subfacility Commitments or (ii) the Revolving Credit
Exposure exceeds the Total Revolving Commitment (calculated as if the Australian Dollar Subfacility
Commitments were included as Revolving Commitments). Australian Dollar Subfacility Loans shall be
Revolving Credit Loans and shall be included in calculating Revolving Credit Exposure (valued at
the Dollar Equivalent thereof) and borrowings under the Australian Dollar Subfacility shall be
Borrowings. Australian Dollar Subfacility Loans shall be treated as Revolving Credit Loans under
the Credit Agreement (subject to the interest rate provisions, maturity dates and other provisions
set forth therein), subject to the terms hereof and as otherwise required to treat the Australian
Dollar Subfacility as a subfacility of the Revolving Commitments.

3

 

     (b) The Borrower may reduce the Australian Dollar Subfacility ratably (which shall not reduce
the Dollar denominated Revolving Commitments of any Lender) based on the respective Australian
Dollar Subfacility Commitments and may terminate the Australian Dollar Subfacility Commitments, in
each case pursuant to the terms of Section 2.14(b) and (c) of the Credit Agreement, the terms of
which are incorporated herein mutatis mutandis.

     (c) Each Borrowing notice delivered under Section 2.3 of the Credit Agreement with respect to
the Australian Dollar Subfacility shall specify the requested Currency for such Borrowing and if no
Currency is specified, then such notice shall be deemed to specify a Borrowing in Dollars.

     (d) Each Borrowing of Australian Dollar Subfacility Loans, each payment or prepayment of
principal of any Australian Dollar Subfacility Loan, each payment of interest on the Australian
Dollar Subfacility Loans, each reduction of the Australian Dollar Subfacility Commitments and each
refinancing, conversion or continuation of any Borrowing under the Australian Dollar Subfacility
shall be allocated pro rata among the Australian Dollar Subfacility Lenders in accordance with
their respective Australian Dollar Subfacility Revolving Percentages (as defined below). Each
payment or prepayment in respect of an Australian Dollar Subfacility Loan shall be made in the same
Currency as such Australian Dollar Subfacility Loan (including, without limitation, each payment or
prepayment of principal of any Australian Dollar Subfacility Loan and each payment of interest on
any Australian Dollar Subfacility Loan).

     (e) Each assignment by any Australian Dollar Subfacility Lender of any of its Revolving
Commitments to an assignee shall be accompanied by a ratable assignment to such assignee of all or
a portion of its Australian Dollar Subfacility Commitment to be agreed upon by such Lender, the
Administrative Agent and the Borrower.

     (f) On any date when the Dollar Equivalent of the Australian Dollar Subfacility Loans exceeds
the aggregate Australian Dollar Subfacility Commitments, the Borrower shall make a mandatory
prepayment of the Australian Dollar Subfacility Loans in an amount equal to such excess.

     (g) Upon the effectiveness of this Amendment, the terms of this Section 2 shall be deemed to
supplement the Credit Agreement and this Amendment may be attached as an Annex thereto.

     (h) As used herein:

     “Australian Dollar Subfacility Revolving Percentage” means, as to any
Australian Dollar Subfacility Lender at any time, the percentage which such Australian
Dollar Subfacility Lender’s Australian Dollar Subfacility Commitment then constitutes of the
aggregate Australian Dollar Subfacility Commitments of all Australian Dollar Subfacility
Lenders or, at any time after the Australian Dollar Subfacility Commitments shall have
expired or terminated, the percentage which the aggregate principal amount of such
Australian Dollar Subfacility Lender’s Australian Dollar Subfacility Loans then outstanding
constitutes of the aggregate principal amount of the Australian Dollar Subfacility Loans of
all Australian Dollar Subfacility Lenders.

4

 

     “Australian Dollar Subfacility Majority Lenders” means Australian Dollar
Subfacility Lenders having at least a majority of the Australian Dollar Subfacility
Revolving Percentages.

     (i) No amendment, modification or waiver of the Credit Agreement affecting the Australian
Dollar Subfacility shall apply thereto without the consent of the Borrower and the Australian
Dollar Subfacility Majority Lenders.

     (j) Wyndham Worldwide Corporation is the Borrower under the Australian Dollar Subfacility.

     3. Representations and Warranties. On and as of the date hereof, after giving effect
to this Amendment, the Borrower hereby confirms that the representations and warranties set forth
in Section 3 of the Credit Agreement are true and correct in all material respects.

     4. Effectiveness of Amendment. This Amendment shall become effective upon the receipt
by the Administrative Agent of counterparts to this Amendment duly executed by the Borrower and the
Australian Dollar Subfacility Lenders; provided that in no event shall this Amendment
become effective unless all of the conditions set forth in Section 4.2 of the Credit Agreement are
satisfied on and as of the date hereof.

     5. Continuing Effect; No Other Amendments or Consents; Voting. (a) Except as
expressly provided herein, all of the terms and provisions of the Credit Agreement are and shall
remain in full force and effect. The amendments provided for herein are limited to the specific
subsections of the Credit Agreement specified herein and shall not constitute a consent, waiver or
amendment of, or an indication of the Administrative Agent’s or the Lenders’ willingness to consent
to any action requiring consent under any other provisions of the Credit Agreement or the same
subsection for any other date or time period.

     (b) For avoidance of doubt “Required Lenders” under the Credit Agreement shall be calculated
as if the amount of the Australian Subfacility Commitment of each Lender was included in the amount
of such Lenders’s Revolving Commitment.

     6. Expenses. The Borrower agrees to pay and reimburse the Administrative Agent for
all its reasonable costs and out-of-pocket expenses incurred in connection with the preparation and
delivery of this Amendment, including, without limitation, the reasonable fees and disbursements of
counsel to the Administrative Agent.

     7. Counterparts. This Amendment may be executed in any number of counterparts by the
parties hereto (including by facsimile and electronic (PDF) transmission), each of which
counterparts when so executed shall be an original, but all the counterparts shall together
constitute one and the same instrument.

     8. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

5

 

     IN WITNESS WHEREOF, the parties have caused this Local Facility Amendment No. 1 to be duly
executed and delivered by their proper and duly authorized officers as of the day and year first
above written.

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION

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

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

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF OTHER LENDERS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

Schedule 2(a)

COMMITMENTS

	 	 	 	 	 
	 	 	Revolving Commitment designated to	 
	Australian Dollar Subfacility Lender	 	Australian Dollar Subfacility	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 
	TOTAL:
	 	$	250,000,000	 

 

EXHIBIT J

FORM OF SOLVENCY CERTIFICATE

     I, the undersigned, chief financial officer of WYNDHAM WORLDWIDE CORPORATION, a Delaware
corporation (the “Borrower”), DO HEREBY CERTIFY in my capacity as Chief Financial Officer
of the Borrower, and not in my individual capacity, on behalf of the Loan Parties that:

     1. This certificate is furnished pursuant to Section 4.01(m) of the Credit Agreement, dated as
of July 15, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Borrower, the Lenders referred to therein, the Co-Documentation Agents,
the Syndication Agent named therein and Bank of America, N.A., as Administrative Agent. Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the
meanings given to them in the Credit Agreement.

     2. On the Closing Date, immediately after giving effect to the extensions of credit, if any,
to occur on the Closing Date, (i) the sum of the debt (including contingent liabilities) of the
Borrower and its Subsidiaries, taken as a whole, does not exceed the present fair saleable value of
the present assets of the Borrower and its Subsidiaries, taken as a whole; (ii) the capital of the
Borrower and its Subsidiaries, taken as a whole, is not unreasonably small in relation to the
business of the Borrower or its Subsidiaries, taken as a whole, contemplated as of the date hereof;
and (iii) the Borrower and its subsidiaries, taken as a whole, do not intend to incur, or believe
that they will incur, debts including current obligations beyond their ability to pay such debt as
they mature in the ordinary course of business. For the purposes hereof, the amount of any
contingent liability at any time shall be computed as the amount that, in light of all of the facts
and circumstances existing at such time, represents the amount that can reasonably be expected to
become an actual or matured liability (irrespective of whether such contingent liabilities meet the
criteria for accrual under Statement of Financial Accounting Standard No. 5).

[Signature Page Follows]

 

 

     IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of July, 2011.

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Chief Financial Officerexv10w1

Exhibit 10.1

EXECUTION COPY

 

CREDIT AGREEMENT

dated as of

October 21, 2011

among

VISTAPRINT LIMITED, as a Borrower

VISTAPRINT SCHWEIZ GMBH, as a Borrower

VISTAPRINT B.V., as a Borrower

VISTAPRINT N.V., as Guarantor

The Subsidiary Borrowers Party Hereto

The Lenders Party Hereto

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

HSBC BANK USA, NATIONAL ASSOCIATION

as Syndication Agent

and

RBS CITIZENS, N.A.

as Documentation Agent

 

J.P. MORGAN SECURITIES LLC

as Sole Bookrunner and Sole Lead Arranger

 

 

 

Table Of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. DEFINED TERMS
	 	 	1	 
	SECTION 1.02. CLASSIFICATION OF LOANS AND BORROWINGS
	 	 	21	 
	SECTION 1.03. TERMS GENERALLY
	 	 	21	 
	SECTION 1.04. ACCOUNTING TERMS; GAAP
	 	 	22	 
	SECTION 1.05. STATUS OF OBLIGATIONS
	 	 	22	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	22	 
	 
	 	 	 	 
	SECTION 2.01. COMMITMENTS
	 	 	22	 
	SECTION 2.02. LOANS AND BORROWINGS
	 	 	23	 
	SECTION 2.03. REQUESTS FOR REVOLVING BORROWINGS
	 	 	23	 
	SECTION 2.04. DETERMINATION OF DOLLAR AMOUNTS
	 	 	24	 
	SECTION 2.05. SWINGLINE LOANS
	 	 	25	 
	SECTION 2.06. LETTERS OF CREDIT
	 	 	26	 
	SECTION 2.07. FUNDING OF BORROWINGS
	 	 	30	 
	SECTION 2.08. INTEREST ELECTIONS
	 	 	30	 
	SECTION 2.09. TERMINATION AND REDUCTION OF COMMITMENTS
	 	 	32	 
	SECTION 2.10. REPAYMENT OF LOANS; EVIDENCE OF DEBT
	 	 	32	 
	SECTION 2.11. PREPAYMENT OF LOANS
	 	 	33	 
	SECTION 2.12. FEES
	 	 	34	 
	SECTION 2.13. INTEREST
	 	 	35	 
	SECTION 2.14. ALTERNATE RATE OF INTEREST
	 	 	36	 
	SECTION 2.15. INCREASED COSTS
	 	 	36	 
	SECTION 2.16. BREAK FUNDING PAYMENTS
	 	 	38	 
	SECTION 2.17. TAXES
	 	 	38	 
	SECTION 2.18. PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF SET-OFFS
	 	 	41	 
	SECTION 2.19. MITIGATION OBLIGATIONS; REPLACEMENT OF LENDERS
	 	 	43	 
	SECTION 2.20. EXPANSION OPTION
	 	 	44	 
	SECTION 2.21. [INTENTIONALLY OMITTED]
	 	 	45	 
	SECTION 2.22. JUDGMENT CURRENCY
	 	 	45	 
	SECTION 2.23. DESIGNATION OF SUBSIDIARY BORROWERS
	 	 	46	 
	SECTION 2.24. DEFAULTING LENDERS
	 	 	46	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	48	 
	 
	 	 	 	 
	SECTION 3.01. ORGANIZATION; POWERS; SUBSIDIARIES
	 	 	48	 
	SECTION 3.02. AUTHORIZATION; ENFORCEABILITY
	 	 	48	 
	SECTION 3.03. GOVERNMENTAL APPROVALS; NO CONFLICTS
	 	 	48	 
	SECTION 3.04. FINANCIAL CONDITION; NO MATERIAL ADVERSE CHANGE
	 	 	48	 
	SECTION 3.05. PROPERTIES
	 	 	49	 
	SECTION 3.06. LITIGATION, ENVIRONMENTAL AND LABOR MATTERS
	 	 	49	 
	SECTION 3.07. COMPLIANCE WITH LAWS AND AGREEMENTS
	 	 	49	 
	SECTION 3.08. INVESTMENT COMPANY STATUS
	 	 	49	 
	SECTION 3.09. TAXES
	 	 	50	 
	SECTION 3.10. ERISA
	 	 	50	 
	SECTION 3.11. DISCLOSURE
	 	 	50	 
	SECTION 3.12. FEDERAL RESERVE REGULATIONS
	 	 	50	 

 

 

Table Of Contents 

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 3.13. LIENS
	 	 	50	 
	SECTION 3.14. NO DEFAULT
	 	 	50	 
	SECTION 3.15. NO BURDENSOME RESTRICTIONS
	 	 	50	 
	SECTION 3.16. COMPLIANCE WITH SWISS NON-BANK RULES
	 	 	50	 
	SECTION 3.17. FINANCIAL ASSISTANCE
	 	 	50	 
	 
	 	 	 	 
	ARTICLE IV Conditions
	 	 	51	 
	 
	 	 	 	 
	SECTION 4.01. EFFECTIVE DATE
	 	 	51	 
	SECTION 4.02. EACH CREDIT EVENT
	 	 	52	 
	SECTION 4.03. DESIGNATION OF A SUBSIDIARY BORROWER
	 	 	52	 
	 
	 	 	 	 
	ARTICLE V Affirmative Covenants
	 	 	53	 
	 
	 	 	 	 
	SECTION 5.01. FINANCIAL STATEMENTS AND OTHER INFORMATION
	 	 	53	 
	SECTION 5.02. NOTICES OF MATERIAL EVENTS
	 	 	54	 
	SECTION 5.03. EXISTENCE; CONDUCT OF BUSINESS
	 	 	55	 
	SECTION 5.04. PAYMENT OF OBLIGATIONS
	 	 	55	 
	SECTION 5.05. MAINTENANCE OF PROPERTIES; INSURANCE
	 	 	55	 
	SECTION 5.06. BOOKS AND RECORDS; INSPECTION RIGHTS
	 	 	55	 
	SECTION 5.07. COMPLIANCE WITH LAWS
	 	 	55	 
	SECTION 5.08. USE OF PROCEEDS
	 	 	56	 
	SECTION 5.09. GUARANTY
	 	 	56	 
	SECTION 5.10. COMPLIANCE WITH SWISS NON-BANK RULES
	 	 	56	 
	 
	 	 	 	 
	ARTICLE VI Negative Covenants
	 	 	56	 
	 
	 	 	 	 
	SECTION 6.01. INDEBTEDNESS
	 	 	56	 
	SECTION 6.02. LIENS
	 	 	57	 
	SECTION 6.03. FUNDAMENTAL CHANGES AND ASSET SALES
	 	 	58	 
	SECTION 6.04. INVESTMENTS, LOANS, ADVANCES, GUARANTEES AND ACQUISITIONS
	 	 	59	 
	SECTION 6.05. SWAP AGREEMENTS
	 	 	59	 
	SECTION 6.06. TRANSACTIONS WITH AFFILIATES
	 	 	60	 
	SECTION 6.07. RESTRICTED PAYMENTS
	 	 	60	 
	SECTION 6.08. RESTRICTIVE AGREEMENTS
	 	 	60	 
	SECTION 6.09. SUBORDINATED INDEBTEDNESS AND AMENDMENTS TO SUBORDINATED INDEBTEDNESS DOCUMENTS
	 	 	60	 
	SECTION 6.10. SALE AND LEASEBACK TRANSACTIONS
	 	 	61	 
	SECTION 6.11. CAPITAL EXPENDITURES
	 	 	61	 
	SECTION 6.12. FINANCIAL COVENANTS
	 	 	62	 
	 
	 	 	 	 
	ARTICLE VII Events of Default
	 	 	62	 
	 
	 	 	 	 
	ARTICLE VIII The Administrative Agent
	 	 	64	 
	 
	 	 	 	 
	ARTICLE IX Miscellaneous
	 	 	66	 
	 
	 	 	 	 
	SECTION 9.01. NOTICES
	 	 	66	 
	SECTION 9.02. WAIVERS; AMENDMENTS
	 	 	67	 

2

 

Table Of Contents 

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 9.03. EXPENSES; INDEMNITY; DAMAGE WAIVER
	 	 	69	 
	SECTION 9.04. SUCCESSORS AND ASSIGNS
	 	 	70	 
	SECTION 9.05. SURVIVAL
	 	 	74	 
	SECTION 9.06. COUNTERPARTS; INTEGRATION; EFFECTIVENESS
	 	 	74	 
	SECTION 9.07. SEVERABILITY
	 	 	74	 
	SECTION 9.08. RIGHT OF SETOFF
	 	 	74	 
	SECTION 9.09. GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS
	 	 	74	 
	SECTION 9.10. WAIVER OF JURY TRIAL
	 	 	75	 
	SECTION 9.11. HEADINGS
	 	 	76	 
	SECTION 9.12. CONFIDENTIALITY
	 	 	76	 
	SECTION 9.13. USA PATRIOT ACT
	 	 	76	 
	SECTION 9.14. RELEASES OF GUARANTORS
	 	 	76	 
	SECTION 9.15. ATTORNEY REPRESENTATION
	 	 	77	 
	SECTION 9.16. INTEREST RATE LIMITATION
	 	 	77	 
	SECTION 9.17. NO ADVISORY OR FIDUCIARY RESPONSIBILITY
	 	 	77	 
	 
	 	 	 	 
	ARTICLE X Cross-Guarantee
	 	 	78	 
	 
	 	 	 	 
	SECTION 10.01. CROSS GUARANTEE
	 	 	78	 
	SECTION 10.02. SWISS LIMITATION LANGUAGE FOR SWISS BORROWERS
	 	 	79	 

3

 

Table Of Contents 

(continued)

	 	 	 	 	 	 	 

	 	 	 	 	Page	 
	SCHEDULES:	 	 
	 	 	 	 
	 	 	 
	 	 	 	 
	Schedule 2.01	 	— Commitments
	 	 	 	 
	Schedule 2.02	 	— Mandatory Cost
	 	 	 	 
	Schedule 3.01A	 	— Subsidiaries
	 	 	 	 
	Schedule 3.01B	 	— Options and Warrants
	 	 	 	 
	Schedule 6.01	 	— Existing Indebtedness
	 	 	 	 
	Schedule 6.02	 	— Existing Liens
	 	 	 	 
	 	 	 
	 	 	 	 
	EXHIBITS:	 	 
	 	 	 	 
	 	 	 
	 	 	 	 
	Exhibit A	 	— Form of Assignment and Assumption
	 	 	 	 
	Exhibit B-1	 	— Form of Opinion of Loan Parties’ U.S. Counsel
	 	 	 	 
	Exhibit B-2	 	— Form of Opinion of Loan Parties’ Bermuda Counsel
	 	 	 	 
	Exhibit B-3	 	— Form of Opinion of Loan Parties’ Dutch Counsel
	 	 	 	 
	Exhibit B-4	 	— Form of Opinion of Loan Parties’ Swiss Counsel
	 	 	 	 
	Exhibit B-5	 	— Form of Opinion of Loan Parties’ Australian Counsel
	 	 	 	 
	Exhibit B-6	 	— Form of Opinion of Loan Parties’ Nova Scotia Counsel
	 	 	 	 
	Exhibit C	 	— Form of Increasing Lender Supplement
	 	 	 	 
	Exhibit D	 	— Form of Augmenting Lender Supplement
	 	 	 	 
	Exhibit E	 	— List of Closing Documents
	 	 	 	 
	Exhibit F-1	 	— Form of Borrowing Subsidiary Agreement
	 	 	 	 
	Exhibit F-2	 	— Form of Borrowing Subsidiary Termination
	 	 	 	 
	Exhibit G	 	— Form of Guaranty
	 	 	 	 
	Exhibit H-1	 	— Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)
	 	 	 	 
	Exhibit H-2	 	— Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)
	 	 	 	 
	Exhibit H-3	 	— Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)
	 	 	 	 
	Exhibit H-4	 	— Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)
	 	 	 	 

4

 

          CREDIT AGREEMENT (this “Agreement”) dated as of October 21, 2011 among VISTAPRINT
LIMITED, VISTAPRINT SCHWEIZ GMBH, VISTAPRINT B.V., VISTAPRINT N.V., the SUBSIDIARY BORROWERS from
time to time party hereto, the LENDERS from time to time party hereto, JPMORGAN CHASE BANK, N.A.,
as Administrative Agent, HSBC BANK USA, NATIONAL ASSOCIATION, as Syndication Agent and RBS
CITIZENS, N.A., as Documentation Agent.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

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

          “Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any
Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%)
equal to the sum of (i) (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate plus, without duplication (ii) in the case of Loans by a Lender from its
office or branch in the United Kingdom or any Participating Member State, the Mandatory Cost.

          “Administrative Agent” means JPMorgan Chase Bank, N.A. (including its branches and
affiliates), in its capacity as administrative agent for the Lenders hereunder.

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

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

          “Aggregate Commitment” means the aggregate of the Commitments of all of the Lenders,
as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the
Effective Date, the Aggregate Commitment is $250,000,000.

          “Agreed Currencies” means (i) Dollars, (ii) euro, (iii) Swiss Francs and (iv) any
other Foreign Currency that is (x) a lawful currency (other than Dollars) that is readily available
and freely transferable and convertible into Dollars, (y) available in the London interbank deposit
market and (z) agreed to by the Administrative Agent and each of the Lenders.

          “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if
such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided
that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate
appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such page) at
approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a
change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be
effective from and including the effective date

 

 

of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate,
respectively.

          “Applicable Percentage” means, with respect to any Lender, the percentage of the
Aggregate Commitment represented by such Lender’s Commitment; provided that, in the case of
Section 2.24 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the
percentage of the Aggregate Commitment (disregarding any Defaulting Lender’s Commitment)
represented by such Lender’s Commitment. If the Commitments have terminated or expired, the
Applicable Percentages shall be determined based upon the Commitments most recently in effect,
giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of
determination.

          “Applicable Rate” means, for any day, with respect to any Eurocurrency Revolving Loan
or any ABR Revolving Loan or with respect to the commitment fees payable hereunder, as the case may
be, the applicable rate per annum set forth below under the caption “Eurocurrency Spread”, “ABR
Spread” or “Commitment Fee Rate”, as the case may be, based upon the Leverage Ratio applicable on
such date:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Eurocurrency	 	ABR	 	Commitment
	 	 	Leverage Ratio:	 	Spread	 	Spread	 	Fee Rate
	Category 1:
	 	≤ 1.50 to 1.00	 	 	1.25	%	 	 	0.25	%	 	 	0.175	%
	Category 2:
	 	> 1.50 to 1.00 but ≤ 2.50 to 1.00	 	 	1.375	%	 	 	0.375	%	 	 	0.20	%
	Category 3:
	 	> 2.50 to 1.00	 	 	1.50	%	 	 	0.50	%	 	 	0.225	%

     For purposes of the foregoing,

     (i) if at any time the Parent fails to deliver the Financials on or before the date the
Financials are due pursuant to Section 5.01, Category 3 shall be deemed applicable for the
period commencing three (3) Business Days after the required date of delivery and ending on
the date which is three (3) Business Days after the Financials are actually delivered, after
which the Category shall be determined in accordance with the table above as applicable;

     (ii) adjustments, if any, to the Category then in effect shall be effective three (3)
Business Days after the Administrative Agent has received the applicable Financials (it
being understood and agreed that each change in Category shall apply during the period
commencing on the effective date of such change and ending on the date immediately preceding
the effective date of the next such change); and

     (iii) notwithstanding the foregoing, Category 1 shall be deemed to be applicable until
the Administrative Agent’s receipt of the applicable Financials for the Parent’s first
fiscal quarter ending after the Effective Date (unless such Financials demonstrate that
Category 2 or 3 should have been applicable during such period, in which case such other
Category shall be deemed to be applicable during such period) and adjustments to the
Category then in effect shall thereafter be effected in accordance with the preceding
paragraphs.

          “Approved Fund” has the meaning assigned to such term in Section 9.04.

2

 

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

          “Augmenting Lender” has the meaning assigned to such term in Section 2.20.

          “Available Revolving Commitment” means, at any time with respect to any Lender, the
Commitment of such Lender then in effect minus the Revolving Credit Exposure of such Lender at such
time; it being understood and agreed that any Lender’s Swingline Exposure shall not be deemed to be
a component of the Revolving Credit Exposure for purposes of calculating the commitment fee under
Section 2.12(a).

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

          “Banking Services” means each and any of the following bank services provided to the
Parent or any Subsidiary by any Lender or any of its Affiliates: (a) credit cards for commercial
customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored
value cards and (c) treasury management services (including, without limitation, controlled
disbursement, automated clearinghouse transactions, return items, overdrafts and interstate
depository network services).

          “Banking Services Agreement” means any agreement entered into by the Parent or any
Subsidiary in connection with Banking Services.

          “Banking Services Obligations” means any and all obligations of the Parent or any
Subsidiary, whether absolute or contingent and howsoever and whensoever created, arising, evidenced
or acquired (including all renewals, extensions and modifications thereof and substitutions
therefor) in connection with Banking Services.

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, such Person has taken any action in furtherance of, or indicating its
consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a
Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of
any ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with
immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Person (or such Governmental
Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or
agreements made by such Person.

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

          “Borrower” means the Company or any Subsidiary Borrower.

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in
effect or (b) a Swingline Loan.

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          “Borrowing Request” means a request by any Borrower for a Revolving Borrowing in
accordance with Section 2.03.

          “Borrowing Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially
in the form of Exhibit F-1.

          “Borrowing Subsidiary Termination” means a Borrowing Subsidiary Termination
substantially in the form of Exhibit F-2.

          “Burdensome Restrictions” means any consensual encumbrance or restriction of the type
described in clause (a) or (b) of Section 6.08.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurocurrency Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in the relevant Agreed
Currency in the London interbank market or the principal financial center of such Agreed Currency
(and, if the Borrowings or LC Disbursements which are the subject of a borrowing, drawing, payment,
reimbursement or rate selection are denominated in euro, the term “Business Day” shall also
exclude any day on which the TARGET2 payment system is not open for the settlement of payments in
euro).

          “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital lease obligations on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with
GAAP.

          “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of Equity
Interests representing more than 50% of the aggregate ordinary voting power represented by the
issued and outstanding Equity Interests of the Parent or the Company; (b) occupation of a majority
of the seats (other than vacant seats) on the board of directors of the Parent or the Company by
Persons who were neither (i) nominated by the board of directors of the Parent or the Company, as
applicable, nor (ii) appointed by directors so nominated; (c) the acquisition of direct or indirect
Control of the Parent or the Company by any Person or group; (d) the occurrence of a change in
control, or other similar provision, as defined in any agreement or instrument evidencing any
Material Indebtedness (triggering a default or mandatory prepayment, which default or mandatory
prepayment has not been waived in writing); or (e) the Parent or the Company ceases to own,
directly or indirectly, and Control 100% (other than directors’ qualifying shares) of the ordinary
voting and economic power of any Borrower.

          “Change in Law” means the occurrence, after the date of this Agreement (or with
respect to any Lender, if later, the date on which such Lender becomes a Lender), of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation or
application thereof by any Governmental Authority, or (c) the making or issuance of any request,
rules, guideline, requirement or directive (whether or not having the force of law) by any
Governmental Authority; provided however, that notwithstanding anything herein to
the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines, requirements and directives thereunder, issued in connection therewith or in
implementation thereof, and (ii) all requests, rules, guidelines, requirements and directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor

4

 

or similar authority) or the United States or foreign regulatory authorities, in each case
pursuant to Basel III, shall in each case be deemed to be a “Change in Law” regardless of the date
enacted, adopted, issued or implemented.

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

          “Code” means the Internal Revenue Code of 1986.

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder,
expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit
Exposure hereunder, as such commitment may be (a) reduced or terminated from time to time pursuant
to Section 2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced or
increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.
The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the
Assignment and Assumption or other documentation contemplated hereby pursuant to which such Lender
shall have assumed its Commitment, as applicable.

          “Company” means Vistaprint Limited, a Bermuda company.

          “Computation Date” is defined in Section 2.04.

          “Consolidated Capital Expenditures” means, without duplication, any expenditures for
any purchase or other acquisition of any asset which would be classified as a fixed or capital
asset on a consolidated balance sheet of the Parent and its Subsidiaries prepared in accordance
with GAAP.

          “Consolidated EBITDA” means Consolidated Net Income plus, to the extent deducted from
revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii) expense
for income taxes paid or accrued, (iii) depreciation, (iv) amortization, (v) extraordinary or
non-recurring non-cash expenses or losses incurred other than in the ordinary course of business,
(vi) non-cash expenses related to share based compensation minus, to the extent included in
Consolidated Net Income, (1) interest income, (2) income tax credits and refunds (to the extent not
netted from tax expense), (3) any cash payments made during such period in respect of items
described in clauses (v) or (vi) above subsequent to the fiscal quarter in which the relevant
non-cash expenses or losses were incurred and (4) extraordinary, unusual or non-recurring income or
gains realized other than in the ordinary course of business, all calculated for the Parent and its
Subsidiaries in accordance with GAAP on a consolidated basis. For the purposes of calculating
Consolidated EBITDA for any period of four consecutive trailing fiscal quarters (each such period,
a “Reference Period”), (i) if at any time during such Reference Period the Parent or any
Subsidiary shall have made any Material Disposition, the Consolidated EBITDA for such Reference
Period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to
the property that is the subject of such Material Disposition for such Reference Period or
increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such
Reference Period, and (ii) if during such Reference Period the Parent or any Subsidiary shall have
made a Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated
after giving effect thereto on a Pro Forma Basis as if such Material Acquisition occurred on the
first day of such Reference Period. As used in this definition, “Material Acquisition”
means any acquisition of property or series of related acquisitions of property that (a)
constitutes (i) assets comprising all or substantially all or any significant portion of a business
or operating unit of a business, or (ii) all or substantially all of the common stock or other
Equity Interests of a Person, and (b) involves the payment of consideration by the Parent and its
Subsidiaries in excess of 10% of Consolidated Total Assets (determined by reference to the

5

 

most recent financial statements of the Parent delivered pursuant to Section 5.01(a) or
5.01(b) or, if prior to the date of the delivery of the first financial statements to be delivered
pursuant to such Section, the most recent financial statements referred to in Section 3.04(a)); and
“Material Disposition” means any sale, transfer or disposition of property or series of
related sales, transfers, or dispositions of property that yields gross proceeds to the Parent or
any of its Subsidiaries in excess of 10% of Consolidated Total Assets (determined by reference to
the most recent financial statements of the Parent delivered pursuant to Section 5.01(a) or 5.01(b)
or, if prior to the date of the delivery of the first financial statements to be delivered pursuant
to such Section, the most recent financial statements referred to in Section 3.04(a)).

          “Consolidated Interest Expense” means, with reference to any period, the interest
expense (including without limitation interest expense under Capital Lease Obligations that is
treated as interest in accordance with GAAP) of the Parent and its Subsidiaries calculated on a
consolidated basis for such period with respect to all outstanding Indebtedness of the Parent and
its Subsidiaries allocable to such period in accordance with GAAP (including, without limitation,
all commissions, discounts and other fees and charges owed with respect to letters of credit and
bankers acceptance financing and net costs under interest rate Swap Agreements to the extent such
net costs are allocable to such period in accordance with GAAP). In the event that the Parent or
any Subsidiary shall have completed a Material Acquisition or a Material Disposition since the
beginning of the relevant period, Consolidated Interest Expense shall be determined for such period
on a Pro Forma Basis as if such acquisition or disposition, and any related incurrence or repayment
of Indebtedness, had occurred at the beginning of such period.

          “Consolidated Net Income” means, with reference to any period, the net income (or
loss) of the Parent and its Subsidiaries calculated in accordance with GAAP on a consolidated basis
(without duplication) for such period; provided that there shall be excluded any income (or
loss) of any Person other than the Parent or a Subsidiary, but any such income so excluded may be
included in such period or any later period to the extent of any cash dividends or distributions
actually paid in the relevant period to the Parent or any wholly-owned Subsidiary of the Parent.

          “Consolidated Senior Indebtedness” means Consolidated Total Indebtedness other than
Subordinated Indebtedness of the Parent and its Subsidiaries.

          “Consolidated Total Assets” means, as of the date of any determination thereof, total
assets of the Parent and its Subsidiaries calculated in accordance with GAAP on a consolidated
basis as of such date.

          “Consolidated Total Indebtedness” means at any time the sum, without duplication, of
(a) the aggregate Indebtedness of the Parent and its Subsidiaries calculated on a consolidated
basis as of such time in accordance with GAAP, (b) the aggregate amount of Indebtedness of the
Parent and its Subsidiaries relating to the maximum drawing amount of all letters of credit
outstanding and bankers acceptances and (c) Indebtedness of the type referred to in clauses (a) or
(b) hereof of another Person guaranteed by the Parent or any of its Subsidiaries.

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

          “Credit Event” means a Borrowing, the issuance of a Letter of Credit, an LC
Disbursement or any of the foregoing.

          “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender
or any other Lender.

6

 

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

          “Defaulting Lender” means any Lender that (a) has failed, within two (2) Business Days
of the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any
portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any
Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause
(i) above, such Lender notifies the Administrative Agent in writing that such failure is the result
of such Lender’s good faith determination that a condition precedent to funding (specifically
identified and including the particular default, if any) has not been satisfied, (b) has notified
the Company or any Credit Party in writing, or has made a public statement to the effect, that it
does not intend or expect to comply with any of its funding obligations under this Agreement
(unless such writing or public statement indicates that such position is based on such Lender’s
good faith determination that a condition precedent (specifically identified and including the
particular default, if any) to funding a loan under this Agreement cannot be satisfied) or
generally under other agreements in which it commits to extend credit, (c) has failed, within three
(3) Business Days after request by a Credit Party, acting in good faith, to provide a certification
in writing from an authorized officer of such Lender that it will comply with its obligations (and
is financially able to meet such obligations) to fund prospective Loans and participations in then
outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender
shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt
of such certification in form and substance satisfactory to it and the Administrative Agent, or (d)
has become the subject of a Bankruptcy Event.

          “Documentation Agent” means RBS Citizens, N.A. in its capacity as documentation agent
for the credit facility evidenced by this Agreement.

          “Dollar Amount” of any currency at any date shall mean (i) the amount of such currency
if such currency is Dollars or (ii) the equivalent in such currency of Dollars if such currency is
a Foreign Currency, calculated on the basis of the Exchange Rate for such currency, on or as of the
most recent Computation Date provided for in Section 2.04.

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

          “Dutch Subsidiary Borrower” means any Subsidiary Borrower that is organized under the
laws of the Netherlands.

          “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 9.02).

          “Eligible Subsidiary” means any Subsidiary that is approved from time to time by the
Lenders and the Administrative Agent.

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

          “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Parent or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any
Environmental

7

 

Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any
Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release
of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual
arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

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

          “Equivalent Amount” of any currency with respect to any amount of Dollars at any date
shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of
the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which
such amount is to be determined.

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

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

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

          “EU” means the European Union.

          “euro” and/or “EUR” means the single currency of the participating member
states of the EU.

          “Eurocurrency”, when used in reference to a currency means an Agreed Currency and when
used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such
Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate.

8

 

          “Eurocurrency Payment Office” of the Administrative Agent shall mean, for each Foreign
Currency, the office, branch, affiliate or correspondent bank of the Administrative Agent for such
currency as specified from time to time by the Administrative Agent to the Company and each Lender.

          “Event of Default” has the meaning assigned to such term in Article VII.

          “Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at
which such Foreign Currency may be exchanged into Dollars, as set forth at approximately 11:00
a.m., Local Time, on such date on the Reuters World Currency Page for such Foreign Currency. In
the event that such rate does not appear on any Reuters World Currency Page, the Exchange Rate with
respect to such Foreign Currency shall be determined by reference to such other publicly available
service for displaying exchange rates as may be reasonably selected by the Administrative Agent or,
in the event no such service is selected, such Exchange Rate shall instead be calculated on the
basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative
Agent for such Foreign Currency on the London market at 11:00 a.m., Local Time, on such date for
the purchase of Dollars with such Foreign Currency, for delivery two Business Days later;
provided, that if at the time of any such determination, for any reason, no such spot rate
is being quoted, the Administrative Agent, after consultation with the Company, may use any
reasonable method it deems appropriate to determine such rate, and such determination shall be
conclusive absent manifest error.

          “Excluded Taxes” means, with respect to any payment made by any Loan Party under any
Loan Document, any of the following Taxes imposed on or with respect to a Recipient:

          (a) income or franchise Taxes imposed on (or measured by) net income by the United States of
America, or by the jurisdiction (or any political subdivisions thereof) under the laws of which
such Recipient is organized or in which its principal office is located or, in the case of any
Lender, in which its applicable lending office is located or by any other jurisdiction in which
such Recipient has a present or former connection with such jurisdiction imposing the Tax (other
than a connection arising from such Recipient having executed, delivered, enforced, become a party
to, performed its obligations under, received payments under, received or perfected a security
interest under, or engaged in any other transaction pursuant to, or enforced, any Loan Document, or
sold or assigned an interest in any Loan Document);

          (b) any branch profits Taxes imposed by the United States of America or any similar Taxes
imposed by any other jurisdiction in which any Borrower is located;

          (c) any backup withholding tax that is required by the Code to be withheld from amounts
payable by a Lender that has failed to comply with Section 2.17(f)(ii)(A); and

          (d) in the case of a Non U.S. Lender (other than an assignee pursuant to a request by any
Borrower under Section 2.19(b)), any U.S. Federal withholding Taxes resulting from any law in
effect (including FATCA) on the date such Non U.S. Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Non U.S. Lender’s failure to comply
with Section 2.17(f), except to the extent that such Non U.S. Lender (or its assignor, if any) was
entitled, at the time of designation of a new lending office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding Taxes pursuant to Section 2.17(a).

          “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement, and any regulations or official interpretations thereof.

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

          “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Parent or the Company, as the context may require.

          “Financials” means the annual or quarterly financial statements, and accompanying
certificates and other documents, of the Parent and its Subsidiaries required to be delivered
pursuant to Section 5.01(a) or 5.01(b).

          “Foreign Currencies” means Agreed Currencies other than Dollars.

          “Foreign Currency LC Exposure” means, at any time, the sum of (a) the Dollar Amount of
the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at
such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of
Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

          “Foreign Currency Letter of Credit” means a Letter of Credit denominated in a Foreign
Currency.

          “Foreign Currency Sublimit” means $50,000,000.

          “FSA” means the Dutch Financial Supervision Act (Wet op het financieel toezicht), as
amended from time to time

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

          “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the
European Central Bank) and any group or body charged with setting financial accounting or
regulatory capital rules or standards (including, without limitation, the Financial Accounting
Standards Board, the Bank for International Settlements or the Basel Committee on Banking
Supervision or any successor or similar authority to any of the foregoing).

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or

10

 

any other financial statement condition or liquidity of the primary obligor so as to enable
the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in
respect of any letter of credit or letter of guaranty issued to support such Indebtedness or
obligation; provided, that the term “Guarantee” shall not include endorsements for
collection or deposit in the ordinary course of business.

          “Guarantors” means, collectively, the Parent and the Subsidiary Guarantors.

          “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

          “Increasing Lender” has the meaning assigned to such term in Section 2.20.

          “Incremental Term Loan” has the meaning assigned to such term in Section 2.20.

          “Incremental Term Loan Amendment” has the meaning assigned to such term in Section
2.20.

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

          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by any Loan Party under any Loan Document and (b) Other Taxes.

          “Initial Subsidiary Borrowers” has the meaning assigned to such term in the definition
of Subsidiary Borrower.

          “Information Memorandum” means the Confidential Information Memorandum dated
September, 2011 relating to the Company and the Transactions.

          “Interest Coverage Ratio” has the meaning assigned to such term in Section 6.12(b).

          “Interest Election Request” means a request by the applicable Borrower to convert or
continue a Revolving Borrowing in accordance with Section 2.08.

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

          “Interest Period” means with respect to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six (or, if acceptable to each Lender, nine or twelve)
months thereafter, as the applicable Borrower (or the Company on behalf of the applicable Borrower)
may elect; provided, that (i) if any Interest Period would end on a day other than a
Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in
the case of a Eurocurrency Borrowing only, such next succeeding Business Day would fall in the next
calendar month, in which case such Interest Period shall end on the next preceding Business Day and
(ii) any Interest Period pertaining to a Eurocurrency Borrowing that commences on the last Business
Day of a calendar month (or on a day for which there is no numerically corresponding day in the
last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially
shall be the date on which such Borrowing is made and, in the case of a Revolving Borrowing,
thereafter shall be the effective date of the most recent conversion or continuation of such
Borrowing.

          “IRS” means the United States Internal Revenue Service.

          “Issuing Bank” means JPMorgan Chase Bank, N.A., in its capacity as the issuer of
Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i).
The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by
Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate.

          “LC Collateral Account” has the meaning assigned to such term in Section 2.06(j).

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

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

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a Lender hereunder pursuant to Section 2.20 or pursuant to an Assignment and
Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment
and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline
Lender.

          “Letter of Credit” means any letter of credit issued pursuant to this Agreement.

          “Leverage Ratio” has the meaning assigned to such term in Section 6.12(a).

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          “LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period,
the rate appearing on, in the case of Dollars, Reuters Screen LIBOR01 Page and, in the case of any
Foreign Currency, the appropriate page of such service which displays British Bankers Association
Interest Settlement Rates for deposits in such Foreign Currency (or, in each case, on any successor
or substitute page of such service, or any successor to or substitute for such service, providing
rate quotations comparable to those currently provided on such page of such service, as determined
by the Administrative Agent from time to time for purposes of providing quotations of interest
rates applicable to deposits in the relevant Agreed Currency in the London interbank market) at
approximately 11:00 a.m., London time, two (2) Business Days prior to (or, in the case of Loans
denominated in Pounds Sterling, on the day of) the commencement of such Interest Period, as the
rate for deposits in the relevant Agreed Currency with a maturity comparable to such Interest
Period. In the event that such rate is not available at such time for any reason, then the
“LIBO Rate” with respect to such Eurocurrency Borrowing for such Interest Period shall be
the rate at which deposits in the relevant Agreed Currency in an Equivalent Amount of $5,000,000
and for a maturity comparable to such Interest Period are offered by the principal London office of
the Administrative Agent in immediately available funds in the London interbank market at
approximately 11:00 a.m., London time, two (2) Business Days prior to (or, in the case of Loans
denominated in Pounds Sterling, on the day of) the commencement of such Interest Period.

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

          “Loan Documents” means this Agreement, each Borrowing Subsidiary Agreement, each
Borrowing Subsidiary Termination, the Subsidiary Guaranty, any promissory notes issued pursuant to
Section 2.10(e), any Letter of Credit applications and any and all other agreements, instruments,
documents and certificates identified in Section 4.01 executed and delivered to, or in favor of,
the Administrative Agent or any Lenders and including all other pledges, powers of attorney,
consents, assignments, contracts, notices, letter of credit agreements and all other written matter
whether heretofore, now or hereafter executed by or on behalf of any Loan Party, or any employee of
any Loan Party, and delivered to the Administrative Agent or any Lender in connection with this
Agreement or the transactions contemplated hereby. Any reference in this Agreement or any other
Loan Document to a Loan Document shall include all appendices, exhibits or schedules thereto, and
all amendments, restatements, supplements or other modifications thereto, and shall refer to this
Agreement or such Loan Document as the same may be in effect at any and all times such reference
becomes operative.

          “Loan Parties” means, collectively, the Borrowers and the Guarantors.

          “Loans” means the loans made by the Lenders to the Borrowers pursuant to this
Agreement.

          “Local Time” means (i) New York City time in the case of a Loan, Borrowing or LC
Disbursement denominated in Dollars and (ii) local time in the case of a Loan, Borrowing or LC
Disbursement denominated in a Foreign Currency (it being understood that such local time shall mean
London, England time unless otherwise notified by the Administrative Agent).

          “Mandatory Cost” is described in Schedule 2.02.

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          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations or condition (financial or otherwise) of the Parent and the Subsidiaries taken as a
whole, (b) the ability of any Borrower or any Guarantor to perform any of its obligations under the
Loan Documents when due or (c) the validity or enforceability of this Agreement or any and all
other Loan Documents or the rights or remedies of the Administrative Agent and the Lenders
thereunder.

          “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), or obligations in respect of one or more Swap Agreements, of any one or more of the Parent
and its Subsidiaries in an aggregate principal amount exceeding $25,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of the Parent or any
Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that the Parent or such Subsidiary would be required to
pay if such Swap Agreement were terminated at such time.

          “Material Subsidiary” means each Subsidiary (i) which, as of the most recent fiscal
quarter of the Parent, for the period of four consecutive fiscal quarters then ended, for which
financial statements have been delivered pursuant to Section 5.01, contributed greater than ten
percent (10%) of Consolidated EBITDA for such period or (ii) which contributed greater than ten
percent (10%) of Consolidated Total Assets as of such date; provided that, if at any time
the aggregate amount of Consolidated EBITDA or Consolidated Total Assets attributable to all that
are not Material Subsidiaries exceeds twenty percent (20%) of Consolidated EBITDA for any such
period or twenty percent (20%) of Consolidated Total Assets as of the end of any such fiscal
quarter, the Company (or, in the event the Company has failed to do so within ten days, the
Administrative Agent) shall designate sufficient Subsidiaries as “Material Subsidiaries” to
eliminate such excess, and such designated Subsidiaries shall for all purposes of this Agreement
constitute Material Subsidiaries.

          “Maturity Date” means October 21, 2016.

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

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

          “Non-U.S. Lender” means a Lender that is not a U.S. Person.

          “Obligations” means all unpaid principal of and accrued and unpaid interest on the
Loans, all LC Exposure, all accrued and unpaid fees and all expenses, reimbursements, indemnities
and other obligations and indebtedness (including interest and fees accruing during the pendency of
any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed
or allowable in such proceeding), obligations and liabilities of any of the Parent and its
Subsidiaries to any of the Lenders, the Administrative Agent, the Issuing Bank or any indemnified
party, individually or collectively, existing on the Effective Date or arising thereafter, direct
or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or
incurred under this Agreement or any of the other Loan Documents or to the Lenders or any of their
Affiliates under any Swap Agreement or any Banking Services Agreement or in respect of any of the
Loans made or reimbursement or other obligations incurred or any of the Letters of Credit or other
instruments at any time evidencing any thereof.

          “Obligors” means, collectively, the Parent and the Borrowers.

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          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a
result of a present or former connection between such Recipient and the jurisdiction imposing such
Taxes (other than a connection arising from such Recipient having executed, delivered, enforced,
become a party to, performed its obligations under, received payments under, received or perfected
a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan
Document, or sold or assigned an interest in any Loan Document).

          “Other Taxes” means any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment under Section 2.19(b)).

          “Overnight Foreign Currency Rate” means, for any amount payable in a Foreign Currency,
the rate of interest per annum as determined by the Administrative Agent at which overnight or
weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three
(3) Business Days, then for such other period of time as the Administrative Agent may elect) for
delivery in immediately available and freely transferable funds would be offered by the
Administrative Agent to major banks in the interbank market upon request of such major banks for
the relevant currency as determined above and in an amount comparable to the unpaid principal
amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or
withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent
bank in respect of such amount in such relevant currency.

          “Parent” means Vistaprint N.V., a public limited company organized under the laws of
the Netherlands, with its statutory seat in Venlo, the Netherlands.

          “Participant” has the meaning assigned to such term in Section 9.04.

          “Participant Register” has the meaning assigned to such term in Section 9.04(c).

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

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

          “Permitted Acquisition” means any acquisition (whether by purchase, merger,
consolidation or otherwise) or series of related acquisitions by the Parent or any Subsidiary of
(i) all or substantially all, or a significant portion of, the assets of or (ii) all or
substantially all the Equity Interests in, a Person or division or line of business of a Person,
if, at the time of and immediately after giving effect thereto, (a) no Default has occurred and is
continuing or would arise after giving effect thereto, (b) such Person or division or line of
business is engaged in the same or a similar line of business as the Parent and the Subsidiaries or
business reasonably related thereto, (c) all actions required to be taken with respect to such
acquired or newly formed Subsidiary under Sections 5.09 and 5.10 shall have been taken, (d) the
Parent and the Subsidiaries are in compliance, on a pro forma basis reasonably acceptable to the
Administrative Agent after giving effect to such acquisition (but without giving effect to any
synergies or cost savings), with the covenants contained in Section 6.12 recomputed as of the last
day of the most recently ended fiscal quarter of the Parent for which financial statements are
available, as if such

15

 

acquisition (and any related incurrence or repayment of Indebtedness, with any new
Indebtedness being deemed to be amortized over the applicable testing period in accordance with its
terms) had occurred on the first day of each relevant period for testing such compliance and, if
the aggregate consideration paid in respect of such acquisition exceeds $50,000,000, the Parent
shall have delivered to the Administrative Agent a certificate of a Financial Officer of the Parent
to such effect, together with all relevant financial information, statements and projections
requested by the Administrative Agent, (e) in the case of an acquisition or merger involving the
Parent or a Subsidiary, the Parent or such Subsidiary (or another Person that merges or
consolidates with such Subsidiary and that, immediately after the consummation of such merger or
consolidation, becomes a Subsidiary) is the surviving entity of such merger and/or consolidation
and (f) the aggregate cash consideration paid in respect of such acquisitions, when taken together
with the aggregate cash consideration paid in respect of all other acquisitions, does not exceed
$25,000,000 during any fiscal year of the Parent (provided, however, that the
aggregate cash consideration paid in respect of any such acquisitions shall be permitted in an
aggregate amount not to exceed $150,000,000 for each such acquisition so long as the Total Leverage
Ratio does not exceed 2.25 to 1.00 immediately after giving effect to such acquisition on a Pro
Forma Basis).

          “Permitted Corporate Reorganization” means a reorganization of the corporate structure
of the Parent and its Subsidiaries to the extent (i) approved by the Administrative Agent (such
approval not to be unreasonably withheld or delayed) and (ii) such reorganization does not have a
material adverse effect on the credit support for the Transactions and on the credit profile of the
Company and the Guarantors taken as a whole.

          “Permitted Encumbrances” means:

          (a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance
with Section 5.04;

          (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not
overdue by more than thirty (30) days or are being contested in compliance with Section 5.04;

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

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

          (e) judgment Liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Article VII;

          (f) any netting or set-off arrangement entered into by any Loan Party in the ordinary course
of its banking arrangements for the purpose of netting debit and credit balances;

          (g) any Lien arising under clause 24 and 25 of the general terms and conditions (algemene
voorwaarden) of the Dutch Banker’s Association (Nederlandse Vereniging van Banken) or any similar
term applied by a Dutch bank; and

          (h) easements, zoning restrictions, rights-of-way and similar encumbrances on real property
imposed by law or arising in the ordinary course of business that do not secure any monetary

16

 

obligations and do not materially detract from the value of the affected property or interfere
with the ordinary conduct of business of the Parent or any Subsidiary;

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

          “Permitted Investments” means investments permitted to be made in accordance with the
investment policy of the Parent, as such policy is in effect, and as disclosed to the
Administrative Agent, prior to the Effective Date and as such policy may be amended, restated,
supplemented or otherwise modified from time to time with the consent of the Administrative Agent.

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

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

          “Pounds Sterling” means the lawful currency of the United Kingdom.

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

          “Pro Forma Basis” means, with respect to any event, that the Parent is in compliance
on a pro forma basis with the applicable covenant, calculation or requirement
herein recomputed as if the event with respect to which compliance on a Pro Forma Basis is being
tested had occurred on the first day of the four fiscal quarter period most recently ended on or
prior to such date for which financial statements have been delivered pursuant to Section 5.01.

          “Qualifying Bank” means any person or entity acting on its own account which is
licensed as a bank by the banking laws in force in its jurisdiction of incorporation and any branch
of a legal entity, which is licensed as a bank by the banking laws in force in the jurisdiction
where such branch is situated, and which, in each case, exercises as its main purpose a true
banking activity, having bank personnel, premises, communication devices of its own and authority
of decision making, all within the meaning of the Swiss Guidelines as issued and as amended from
time to time by the Swiss Federal Tax Administration (SFTA).

          “Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c)
the Issuing Bank.

          “Register” has the meaning set forth in Section 9.04.

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

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

17

 

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

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

          “Revolving Loan” means a Loan made pursuant to Section 2.01.

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

          “Sale and Leaseback Transaction” means any sale or other transfer of any property or
asset by any Person with the intent to lease such property or asset as lessee.

          “SEC” means the United States Securities and Exchange Commission.

          “Senior Leverage Ratio” has the meaning set forth in Section 6.12(b).

          “Service of Process Agent” means Corporation Service Company, 1180 Avenue of the
Americas, Suite 210, New York, New York 10036.

          “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve, liquid asset, fees or similar requirements (including any marginal, special,
emergency or supplemental reserves or other requirements) established by any central bank, monetary
authority, the Board, the Financial Services Authority, the European Central Bank or other
Governmental Authority for any category of deposits or liabilities customarily used to fund loans
in the applicable currency, expressed in the case of each such requirement as a decimal. Such
reserve, liquid asset, fees or similar requirements shall, in the case of Dollar denominated Loans,
include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans shall be deemed to
be subject to such reserve, liquid asset, fee or similar requirements without benefit of or credit
for proration, exemptions or offsets that may be available from time to time to any Lender under
any applicable law, rule or regulation, including Regulation D of the Board. The Statutory Reserve
Rate shall be adjusted automatically on and as of the effective date of any change in any reserve,
liquid asset or similar requirement.

          “Subordinated Indebtedness” means any Indebtedness of the Parent or any Subsidiary the
payment of which is subordinated to payment of the obligations under the Loan Documents.

          “Subordinated Indebtedness Documents” means any document, agreement or instrument
evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated
Indebtedness.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other

18

 

corporation, limited liability company, partnership, association or other entity (a) of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, Controlled or held, or (b) that is, as of such
date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the
parent and one or more subsidiaries of the parent.

          “Subsidiary” means any subsidiary of the Parent.

          “Subsidiary Borrower” means (i) Vistaprint Schweiz GmbH, a corporation incorporated
under the laws of Switzerland, (ii) Vistaprint B.V., a private limited liability company organized
under the laws of the Netherlands, with its statutory seat in Venlo, the Netherlands (collectively,
the “Initial Subsidiary Borrowers”), and (iii) any other Eligible Subsidiary that becomes a
Subsidiary Borrower pursuant to Section 2.23, in each case, provided that such Subsidiary Borrower
has not ceased to be a Subsidiary Borrower pursuant to such Section 2.23.

          “Subsidiary Guarantor” means each Material Subsidiary that is party to the Guaranty.
The Subsidiary Guarantors on the Effective Date are identified as such in Schedule 3.01A
hereto.

          “Subsidiary Guaranty” means that certain Guaranty dated as of the Effective Date in
the form of Exhibit G (including any and all supplements thereto) and executed by each
Subsidiary Guarantor party thereto and any other guaranty agreements as are requested by the
Administrative Agent and its counsel, in each case as amended, restated, supplemented or otherwise
modified from time to time.

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

          “Swap Obligations” means any and all obligations of the Parent or any Subsidiary,
whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired
(including all renewals, extensions and modifications thereof and substitutions therefor), under
(a) any and all Swap Agreements permitted hereunder with a Lender or an Affiliate of a Lender, and
(b) any and all cancellations, buy backs, reversals, terminations or assignments of any such Swap
Agreement transaction.

          “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall
be its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of
Swingline Loans hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Swiss Borrower” means Vistaprint Schweiz GmbH and any other Borrower incorporated in
Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss
resident pursuant to Article 9 of the Swiss Federal Withholding Tax Act and/or Article 4 of the
Swiss Federal Stamp Tax Act..

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          “Swiss Guidelines” means, together, the guideline “Interbank Loans” of 22 September
1986 (S- 02.123) (Merkblatt “Verrechnungssteuer auf Zinsen von Bankguthaben, deren Gläubiger Banken
sind (Interbankguthaben)” vom 22. September 1986), the guideline “Syndicated Loans” of January 2000
(S-02.128) (Merkblatt “Steuerliche Behandlung von Konsortialdarlehen, Schuldscheindarlehen,
Wechseln und Unterbeteiligungen” vom Januar 2000), the guideline S-02.130.1 in relation to money
market instruments and book claims of April 1999 (Merkblatt vom April 1999 betreffend
Geldmarktpapiere und Buchforderungen inländischer Schuldner), the guideline “Bonds” of April 1999
(S-02.122.1) (Merkblatt “Obligationen” vom April 1999), the circular letter No. 34 “Customer Credit
Balances” of 26 July 2011 (1-034-V-2011) (Kreisschreiben Nr. 34 ,,Kundenguthaben” vom 26. Juli
2011), the circular letter No. 15 of 7 February 2007 (1-015-DVS-2007) in relation to bonds and
derivative financial instruments as subject matter of taxation of Swiss federal income tax, Swiss
Federal Withholding Tax and Swiss Federal Stamp Taxes (Kreisschreiben Nr. 15 “Obligationen und
derivative Finanzinstrumente als Gegenstand der direkten Bundessteuer, der Verrechnungssteuer und
der Stempelabgaben” vom 7. February 2007); all as issued, and as amended from time to time, by the
Swiss Federal Tax Administration (SFTA).

          “Swiss Federal Stamp Tax” means the Taxes levied pursuant to the Swiss Federal Stamp
Tax Act.

          “Swiss Federal Stamp Tax Act” means the Swiss Federal Stamp Tax Act of 27 June 1973
(Bundesgesetz über die Stempelabgaben vom 27. Juni 1973); together with the related ordinances,
regulations and guidelines, all as amended and applicable from time to time.

          “Swiss Federal Withholding Tax” means the Taxes levied pursuant to the Swiss Federal
Withholding Tax Act.

          “Swiss Federal Withholding Tax Act” means the Swiss Federal Withholding Tax Act of 13
October 1965 (Bundesgesetz über die Verrechnungssteuer vom 13. Oktober 1965); together with the
related ordinances, regulations and guidelines, all as amended and applicable from time to time.

          “Swiss Non-Bank Rules” means the Swiss Ten Non-Bank Rule and the Swiss Twenty Non-Bank
Rule.

          “Swiss Subsidiary Guarantor” means any other Subsidiary Guarantor incorporated
in Switzerland and/or having its registered office in Switzerland.

          “Swiss Ten Non-Bank Rule” means the rule that the aggregate number of creditors
(within the meaning of the Swiss Guidelines) under this Agreement which are not Qualifying Banks
must not, at any time, exceed ten (10).

          “Swiss Twenty Non-Bank Rule” means the rule that (without duplication) the aggregate
number of creditors (including the Lenders), other than Qualifying Banks, of the Swiss Borrower
under all outstanding debts relevant for classification as debenture (Kassenobligation) (including
debt arising under this Agreement and intra-group loans (if and to the extent intra-group loans are
not exempt in accordance with the ordinance of the Swiss Federal Council of 18 June 2010 amending
the Swiss Federal Ordinance on withholding tax and the Swiss Federal Ordinance on stamp duties with
effect as of 1 August 2010), loans, facilities and/or private placements (including under this
Agreement) must not, at any time, exceed twenty (20); in each case in accordance with the meaning
of the Swiss Guidelines.

          “Syndication Agent” means HSBC Bank USA, National Association in its capacity as
syndication agent for the credit facility evidenced by this Agreement.

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          “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express
Transfer (TARGET2) payment system (or, if such payment system ceases to be operative, such other
payment system (if any) reasonably determined by the Administrative Agent to be a suitable
replacement) for the settlement of payments in euro.

          “Taxes” means any present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

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

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

          “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code.

          “U.S. Tax Certificate” has the meaning assigned to such term in Section
2.17(f)(ii)(D)(2).

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

          “Withholding Agent” means any Loan Party and/or the Administrative Agent.

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class
(e.g., a “Revolving Loan”) or by Type (e.g., a “Eurocurrency Loan”)
or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may
be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type
(e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a
“Eurocurrency Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the
terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to
have the same meaning and effect as the word “shall”. The word “law” shall be construed as
referring to all statutes, rules, regulations, codes and other laws (including official rulings and
interpretations thereunder having the force of law or with which affected Persons customarily
comply), and all judgments, orders and decrees, of all Governmental Authorities. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, restated, supplemented or otherwise modified (subject to any
restrictions on such amendments, restatements, supplements or modifications set forth herein), (b)
any definition of or reference to any statute, rule or regulation shall be construed as referring
thereto as from time to time amended, supplemented or otherwise modified (including by succession
of comparable successor laws), (c) any reference herein to any Person shall be construed to include
such Person’s successors and assigns (subject to any restrictions on assignment set forth herein)
and, in the case of any Governmental Authority, any other Governmental Authority that shall have
succeeded to any or all functions thereof, (d) the words

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“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer
to this Agreement in its entirety and not to any particular provision hereof, (e) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and Schedules to, this Agreement and (f) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial
nature shall be construed in accordance with GAAP, as in effect from time to time; provided
that, if the Company notifies the Administrative Agent that the Company requests an amendment to
any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP
or in the application thereof on the operation of such provision (or if the Administrative Agent
notifies the Company that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP
or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective until such notice
shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any
other provision contained herein, all terms of an accounting or financial nature used herein shall
be construed, and all computations of amounts and ratios referred to herein shall be made (i)
without giving effect to any election under Accounting Standards Codification 825-10-25 (or any
other Accounting Standards Codification or Financial Accounting Standard having a similar result or
effect) to value any Indebtedness or other liabilities of the Company or any Subsidiary at “fair
value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness in
respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any
other Accounting Standards Codification or Financial Accounting Standard having a similar result or
effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and
such Indebtedness shall at all times be valued at the full stated principal amount thereof.

          SECTION 1.05. Status of Obligations. In the event that the Company or any other Loan Party shall at any time issue or have
outstanding any Subordinated Indebtedness, the Company shall take or cause such other Loan Party to
take all such actions as shall be necessary to cause the Obligations to constitute senior
indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the
Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies
available or potentially available to holders of senior indebtedness under the terms of such
Subordinated Indebtedness. Without limiting the foregoing, the Obligations are hereby designated
as “senior indebtedness” and as “designated senior indebtedness” and words of similar import under
and in respect of any indenture or other agreement or instrument under which such Subordinated
Indebtedness is outstanding and are further given all such other designations as shall be required
under the terms of any such Subordinated Indebtedness in order that the Lenders may have and
exercise any payment blockage or other remedies available or potentially available to holders of
senior indebtedness under the terms of such Subordinated Indebtedness.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving
Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an
aggregate principal amount that will not result in (a) subject to Sections 2.04 and 2.11(b), the
Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (b)
subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total

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Revolving Credit Exposures exceeding the Aggregate Commitment or (c) subject to Sections 2.04
and 2.11(b), the Dollar Amount of the total outstanding Revolving Loans and LC Exposure, in each
case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. Within the
foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may
borrow, prepay and reborrow Revolving Loans.

          SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan (other than a Swingline Loan) shall be made as part of a Borrowing
consisting of Revolving Loans made by the Lenders ratably in accordance with their respective
Commitments. The failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder; provided that the Commitments of the
Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans
as required. Any Swingline Loan shall be made in accordance with the procedures set forth in
Section 2.05.

     (b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of
ABR Loans or Eurocurrency Loans as the relevant Borrower may request in accordance herewith;
provided that each ABR Loan shall only be made in Dollars. Each Swingline Loan
shall be an ABR Loan. Each Lender at its option may make any Loan by causing any domestic
or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an
Affiliate, the provisions of Sections 2.14, 2.15, 2.16 and 2.17 shall apply to such
Affiliate to the same extent as to such Lender); provided that any exercise of such
option shall not affect the obligation of the relevant Borrower to repay such Loan in
accordance with the terms of this Agreement.

     (c) At the commencement of each Interest Period for any Eurocurrency Revolving
Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of
$500,000 (or, if such Borrowing is denominated in a Foreign Currency, 500,000 units of such
currency) and not less than $1,000,000 (or, if such Borrowing is denominated in a Foreign
Currency, 1,000,000 units of such currency). At the time that each ABR Revolving Borrowing
is made, such Borrowing shall be in an aggregate amount that is an integral multiple of
$250,000 and not less than $1,000,000; provided that an ABR Revolving Borrowing may
be in an aggregate amount that is equal to the entire unused balance of the Aggregate
Commitment or that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is an
integral multiple of $250,000 and not less than $1,000,000. Borrowings of more than one
Type and Class may be outstanding at the same time; provided that there shall not at
any time be more than a total of ten (10) Eurocurrency Revolving Borrowings outstanding.

     (d) Notwithstanding any other provision of this Agreement, no Borrower shall be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest
Period requested with respect thereto would end after the Maturity Date.

     (e) The initial borrowing from any Lender to any Dutch Subsidiary Borrower shall be at
least €50,000 (or its equivalent in another currency) or any other amount that will from
time to time be applicable under section 3(2) under a and/or b of the Dutch Decree on
Definitions Wft (Besluit definitiebepalingen Wft), or, if it is less, that Lender shall
confirm in writing to that Dutch Subsidiary Borrower that it is a professional market party
within the meaning of the FSA.

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing, the applicable Borrower, or the Company on behalf of the
applicable Borrower, shall notify the Administrative Agent of such request (a) by irrevocable
written notice (via a written Borrowing Request in a form approved by the Administrative Agent and
signed by the applicable Borrower, or the Company

23

 

on behalf of the applicable Borrower, promptly followed by telephonic confirmation of such
request) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, three (3)
Business Days (in the case of a Eurocurrency Borrowing denominated in Dollars) or by irrevocable
written notice (via a written Borrowing Request in a form approved by the Administrative Agent and
signed by such Borrower, or the Company on its behalf) not later than four (4) Business Days (in
the case of a Eurocurrency Borrowing denominated in a Foreign Currency), in each case before the
date of the proposed Borrowing or (b) by telephone in the case of an ABR Borrowing, not later than
11:00 a.m., New York City time, one (1) Business Day before the date of the proposed Borrowing;
provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of
an LC Disbursement as contemplated by Section 2.06(e) may be given not later than 10:00 a.m., New
York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request
shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the
Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent
and signed by the applicable Borrower, or the Company on behalf of the applicable Borrower. Each
such telephonic and written Borrowing Request shall specify the following information in compliance
with Section 2.02:

     (i) the aggregate amount of the requested Borrowing;

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

     (iii) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency
Borrowing;

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

     (v) the location and number of the applicable Borrower’s account to which funds
are to be disbursed, which shall comply with the requirements of Section 2.07.

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

          SECTION 2.04. Determination of Dollar Amounts. The Administrative Agent will determine the Dollar Amount of:

     (a) each Eurocurrency Borrowing as of the date two (2) Business Days prior to the date
of such Borrowing or, if applicable, the date of conversion/continuation of any Borrowing as
a Eurocurrency Borrowing,

     (b) the LC Exposure as of the date of each request for the issuance, amendment, renewal
or extension of any Letter of Credit, and

     (c) all outstanding Credit Events on and as of the last Business Day of each calendar
quarter and, during the continuation of an Event of Default, on any other Business Day
elected by the Administrative Agent in its discretion or upon instruction by the Required
Lenders.

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Each day upon or as of which the Administrative Agent determines Dollar Amounts as described in the
preceding clauses (a), (b) and (c) is herein described as a “Computation Date” with respect to each
Credit Event for which a Dollar Amount is determined on or as of such day.

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to
make Swingline Loans in Dollars to the Company from time to time during the Availability Period, in
an aggregate principal amount at any time outstanding that will not result in (i) the aggregate
principal amount of outstanding Swingline Loans exceeding $25,000,000 or (ii) the Dollar Amount of
the total Revolving Credit Exposures exceeding the Aggregate Commitment; provided that the
Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Company may borrow, prepay and reborrow Swingline Loans.

     (b) To request a Swingline Loan, the Company shall notify the Administrative Agent of
such request by telephone (confirmed by telecopy), not later than 12:00 noon, New York City
time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and
shall specify the requested date (which shall be a Business Day) and amount of the requested
Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any
such notice received from the Company. The Swingline Lender shall make each Swingline Loan
available to the Company by means of a credit to the general deposit account of the Company
with the Swingline Lender (or, in the case of a Swingline Loan made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the
Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline
Loan.

     (c) The Swingline Lender may by written notice given to the Administrative Agent not
later than 10:00 a.m., New York City time, on any Business Day require the Lenders to
acquire participations on such Business Day in all or a portion of the Swingline Loans
outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which
Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent
will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and
unconditionally agrees, upon receipt of notice as provided above, to pay to the
Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its
obligation to acquire participations in Swingline Loans pursuant to this paragraph is
absolute and unconditional and shall not be affected by any circumstance whatsoever,
including the occurrence and continuance of a Default or reduction or termination of the
Commitments, and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever. Each Lender shall comply with its obligation under
this paragraph by wire transfer of immediately available funds, in the same manner as
provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall
apply, mutatis mutandis, to the payment obligations of the Lenders), and the
Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by
it from the Lenders. The Administrative Agent shall notify the Company of any
participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter
payments in respect of such Swingline Loan shall be made to the Administrative Agent and not
to the Swingline Lender. Any amounts received by the Swingline Lender from the Company (or
other party on behalf of the Company) in respect of a Swingline Loan after receipt by the
Swingline Lender of the proceeds of a sale of participations therein shall be promptly
remitted to the Administrative Agent; any such amounts received by the Administrative Agent
shall be promptly remitted by the Administrative Agent to the Lenders that shall have made
their payments pursuant to this paragraph and to the Swingline Lender, as their interests
may appear; provided that any such

25

 

payment so remitted shall be repaid to the Swingline Lender or to the Administrative
Agent, as applicable, if and to the extent such payment is required to be refunded to the
Company for any reason. The purchase of participations in a Swingline Loan pursuant to this
paragraph shall not relieve the Company of any default in the payment thereof.

          SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and conditions set forth herein, the Company may
request the issuance of Letters of Credit denominated in Agreed Currencies for its own account or
for the account of any Subsidiary, in a form reasonably acceptable to the Administrative Agent and
the Issuing Bank, at any time and from time to time during the Availability Period. In the event
of any inconsistency between the terms and conditions of this Agreement and the terms and
conditions of any form of letter of credit application or other agreement submitted by the Company
to, or entered into by the Company with, the Issuing Bank relating to any Letter of Credit, the
terms and conditions of this Agreement shall control.

     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), the Company shall hand deliver or telecopy (or transmit by
electronic communication, if arrangements for doing so have been approved by the Issuing
Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the
requested date of issuance, amendment, renewal or extension) a notice requesting the
issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed
or extended, and specifying the date of issuance, amendment, renewal or extension (which
shall be a Business Day), the date on which such Letter of Credit is to expire (which shall
comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed
Currency applicable thereto, the name and address of the beneficiary thereof and such other
information as shall be necessary to prepare, amend, renew or extend such Letter of Credit.
If requested by the Issuing Bank, the Company also shall submit a letter of credit
application on the Issuing Bank’s standard form in connection with any request for a Letter
of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and
upon issuance, amendment, renewal or extension of each Letter of Credit the Company shall be
deemed to represent and warrant that), after giving effect to such issuance, amendment,
renewal or extension (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the LC
Exposure shall not exceed $25,000,000, (ii) subject to Sections 2.04 and 2.11(b), the sum of
the Dollar Amount of the total Revolving Credit Exposures shall not exceed the Aggregate
Commitment and (iii) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the total
outstanding Revolving Loans and LC Exposure, in each case denominated in Foreign Currencies,
shall not exceed the Foreign Currency Sublimit.

     (c) Expiration Date. Each Letter of Credit shall expire at or prior to the
close of business on the earlier of (i) the date one year after the date of the issuance of
such Letter of Credit (or, in the case of any renewal or extension thereof, one year after
such renewal or extension); provided that any such Letter of Credit may provide for the
automatic renewal thereof for additional one-year periods subject to customary non-renewal
provisions (which shall in no event extend beyond the date referred to in the following
clause (ii)) and (ii) the date that is five (5) Business Days prior to the Maturity Date.

     (d) Participations. By the issuance of a Letter of Credit (or an amendment to
a Letter of Credit increasing the amount thereof) and without any further action on the part
of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each
Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal
to such Lender’s Applicable Percentage of the aggregate Dollar Amount available to be drawn
under such Letter of Credit. In consideration and in furtherance of the foregoing, each
Lender hereby absolutely and

26

 

unconditionally agrees to pay to the Administrative Agent, for the account of the
Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the
Issuing Bank and not reimbursed by the Company on the date due as provided in paragraph (e)
of this Section, or of any reimbursement payment required to be refunded to the Company for
any reason. Each Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any
amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of
a Default or reduction or termination of the Commitments, and that each such payment shall
be made without any offset, abatement, withholding or reduction whatsoever.

     (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in
respect of a Letter of Credit, the Company shall reimburse such LC Disbursement by paying to
the Administrative Agent in Dollars the Dollar Amount equal to such LC Disbursement,
calculated as of the date the Issuing Bank made such LC Disbursement (or if the Issuing Bank
shall so elect in its sole discretion by notice to the Company, in such other Agreed
Currency which was paid by the Issuing Bank pursuant to such LC Disbursement in an amount
equal to such LC Disbursement) not later than 12:00 noon, Local Time, on the Business Day
immediately following the date that such LC Disbursement is made, if the Company shall have
received notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date, or,
if such notice has not been received by the Company prior to such time on such date, then
not later than 12:00 noon, Local Time, on the Business Day immediately following the day
that the Company receives such notice, if such notice is not received prior to such time on
the day of receipt; provided that, if such LC Disbursement is not less than the
Dollar Amount of $1,000,000, the Company may, subject to the conditions to borrowing set
forth herein, request in accordance with Section 2.03 or 2.05 that such payment be financed
with an ABR Revolving Borrowing or Swingline Loan in an equivalent Dollar Amount of such LC
Disbursement and, to the extent so financed, the Company’s obligation to make such payment
shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan.
If the Company fails to make such payment when due, the Administrative Agent shall notify
each Lender of the applicable LC Disbursement, the payment then due from the Company in
respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt
of such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage
of the payment then due from the Company, in the same manner as provided in Section 2.07
with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the Lenders), and the Administrative Agent
shall promptly pay to the Issuing Bank the amounts so received by it from the Lenders.
Promptly following receipt by the Administrative Agent of any payment from the Company
pursuant to this paragraph, the Administrative Agent shall distribute such payment to the
Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to
reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may
appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing
Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline
Loan as contemplated above) shall not constitute a Loan and shall not relieve the Company of
its obligation to reimburse such LC Disbursement. If the Company’s reimbursement of, or
obligation to reimburse, any amounts in any Foreign Currency would subject the
Administrative Agent, the Issuing Bank or any Lender to any stamp duty, ad valorem charge or
similar tax that would not be payable if such reimbursement were made or required to be made
in Dollars, the Company shall, at its option, either (x) pay the amount of any such tax
requested by the Administrative Agent, the Issuing Bank or the relevant Lender or (y)
reimburse each LC Disbursement made in such Foreign Currency in Dollars, in an amount equal
to the Equivalent

27

 

Amount, calculated using the applicable Exchange Rates, on the date such LC
Disbursement is made, of such LC Disbursement.

     (f) Obligations Absolute. The Company’s obligation to reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional
and irrevocable, and shall be performed strictly in accordance with the terms of this
Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of
validity or enforceability of any Letter of Credit or this Agreement, or any term or
provision therein, (ii) any draft or other document presented under a Letter of Credit
proving to be forged, fraudulent or invalid in any respect or any statement therein being
untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of
Credit against presentation of a draft or other document that does not comply with the terms
of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not
similar to any of the foregoing, that might, but for the provisions of this Section,
constitute a legal or equitable discharge of, or provide a right of setoff against, the
Company’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the
Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit or any
payment or failure to make any payment thereunder (irrespective of any of the circumstances
referred to in the preceding sentence), or any error, omission, interruption, loss or delay
in transmission or delivery of any draft, notice or other communication under or relating to
any Letter of Credit (including any document required to make a drawing thereunder), any
error in interpretation of technical terms or any consequence arising from causes beyond the
control of the Issuing Bank; provided that the foregoing shall not be construed to
excuse the Issuing Bank from liability to the Company to the extent of any direct damages
(as opposed to consequential damages, claims in respect of which are hereby waived by the
Company to the extent permitted by applicable law) suffered by the Company that are caused
by the Issuing Bank’s failure to exercise care when determining whether drafts and other
documents presented under a Letter of Credit comply with the terms thereof. The parties
hereto expressly agree that, in the absence of gross negligence or willful misconduct on the
part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the
Issuing Bank shall be deemed to have exercised care in each such determination. In
furtherance of the foregoing and without limiting the generality thereof, the parties agree
that, with respect to documents presented which appear on their face to be in substantial
compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without responsibility for
further investigation, regardless of any notice or information to the contrary, or refuse to
accept and make payment upon such documents if such documents are not in strict compliance
with the terms of such Letter of Credit.

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

     (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement,
then, unless the Company shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that the Company
reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving
Loans (or in the case such LC Disbursement is denominated in a Foreign Currency, at the

28

 

Overnight Foreign Currency Rate for such Agreed Currency plus the then
effective Applicable Rate with respect to Eurocurrency Revolving Loans); provided
that, if the Company fails to reimburse such LC Disbursement when due pursuant to paragraph
(e) of this Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this
paragraph shall be for the account of the Issuing Bank, except that interest accrued on and
after the date of payment by any Lender pursuant to paragraph (e) of this Section to
reimburse the Issuing Bank shall be for the account of such Lender to the extent of such
payment.

     (i) Replacement of Issuing Bank. The Issuing Bank may be replaced at any time
by written agreement among the Company, the Administrative Agent, the replaced Issuing Bank
and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any
such replacement of the Issuing Bank. At the time any such replacement shall become
effective, the Company shall pay all unpaid fees accrued for the account of the replaced
Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such
replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the
Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter
and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such
successor or to any previous Issuing Bank, or to such successor and all previous Issuing
Banks, as the context shall require. After the replacement of an Issuing Bank hereunder,
the replaced Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of an Issuing Bank under this Agreement with respect to Letters of
Credit then outstanding and issued by it prior to such replacement, but shall not be
required to issue additional Letters of Credit.

     (j) Cash Collateralization. If any Event of Default shall occur and be
continuing, on the Business Day that the Company receives notice from the Administrative
Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated,
Lenders with LC Exposure representing greater than 50% of the total LC Exposure) demanding
the deposit of cash collateral pursuant to this paragraph, the Company shall deposit in an
account with the Administrative Agent, in the name of the Administrative Agent and for the
benefit of the Lenders (the “LC Collateral Account”), an amount in cash equal to
105% of the Dollar Amount of the LC Exposure as of such date plus any accrued and unpaid
interest thereon; provided that (i) the portions of such amount attributable to
undrawn Foreign Currency Letters of Credit or LC Disbursements in a Foreign Currency that
the Company is not late in reimbursing shall be deposited in the applicable Foreign
Currencies in the actual amounts of such undrawn Letters of Credit and LC Disbursements and
(ii) the obligation to deposit such cash collateral shall become effective immediately, and
such deposit shall become immediately due and payable, without demand or other notice of any
kind, upon the occurrence of any Event of Default with respect to the Company described in
clause (h) or (i) of Article VII. For the purposes of this paragraph, the Foreign Currency
LC Exposure shall be calculated using the applicable Exchange Rate on the date notice
demanding cash collateralization is delivered to the Company. The Company also shall
deposit cash collateral pursuant to this paragraph as and to the extent required by Section
2.11(b). Such deposit shall be held by the Administrative Agent as collateral for the
payment and performance of the Obligations. The Administrative Agent shall have exclusive
dominion and control, including the exclusive right of withdrawal, over such account. Other
than any interest earned on the investment of such deposits, which investments shall be made
at the option and sole discretion of the Administrative Agent and at the Company’s risk and
expense, such deposits shall not bear interest. Interest or profits, if any, on such
investments shall accumulate in such account. Moneys in such account shall be applied by
the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has
not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of
the reimbursement obligations of the Company for the LC Exposure at such time or, if the
maturity of the Loans has

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been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than 50% of the total LC
Exposure), be applied to satisfy other Obligations. If the Company is required to provide
an amount of cash collateral hereunder as a result of the occurrence of an Event of Default,
such amount (to the extent not applied as aforesaid) shall be returned to the Company within
three (3) Business Days after all Events of Default have been cured or waived.

               SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds (i) in the case of Loans denominated in
Dollars, by 12:00 noon, New York City time, to the account of the Administrative Agent most
recently designated by it for such purpose by notice to the Lenders and (ii) in the case of each
Loan denominated in a Foreign Currency, by 12:00 noon, Local Time, in the city of the
Administrative Agent’s Eurocurrency Payment Office for such currency and Borrower and at such
Eurocurrency Payment Office for such currency and Borrower; provided that Swingline Loans
shall be made as provided in Section 2.05. The Administrative Agent will make such Loans available
to the relevant Borrower by promptly crediting the amounts so received, in like funds, to (x) an
account of the Company designated by the Company in the applicable Borrowing Request, in the case
of Loans denominated in Dollars and (y) an account of such Borrower in the relevant jurisdiction
and designated by such Borrower in the applicable Borrowing Request, in the case of Loans
denominated in a Foreign Currency; provided that ABR Revolving Loans made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the
Administrative Agent to the Issuing Bank.

     (b) Unless the Administrative Agent shall have received notice from a Lender prior to
the proposed date of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with
paragraph (a) of this Section and may, in reliance upon such assumption, make available to
the relevant Borrower a corresponding amount. In such event, if a Lender has not in fact
made its share of the applicable Borrowing available to the Administrative Agent, then the
applicable Lender and such Borrower severally agree to pay to the Administrative Agent
forthwith on demand such corresponding amount with interest thereon, for each day from and
including the date such amount is made available to such Borrower to but excluding the date
of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of
the Federal Funds Effective Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation (including without
limitation the Overnight Foreign Currency Rate in the case of Loans denominated in a Foreign
Currency) or (ii) in the case of such Borrower, the interest rate applicable to ABR Loans.
If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in such Borrowing.

               SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of the Type specified in the applicable
Borrowing Request and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial
Interest Period as specified in such Borrowing Request. Thereafter, the relevant Borrower may
elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case
of a Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this
Section. A Borrower may elect different options with respect to different portions of the affected
Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the
Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a
separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be
converted or continued.

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     (b) To make an election pursuant to this Section, a Borrower, or the Company on its
behalf, shall notify the Administrative Agent of such election (by telephone or irrevocable
written notice in the case of a Borrowing denominated in Dollars or by irrevocable written
notice (via an Interest Election Request in a form approved by the Administrative Agent and
signed by such Borrower, or the Company on its behalf) in the case of a Borrowing
denominated in a Foreign Currency) by the time that a Borrowing Request would be required
under Section 2.03 if such Borrower were requesting a Revolving Borrowing of the Type
resulting from such election to be made on the effective date of such election. Each such
telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by
hand delivery or telecopy to the Administrative Agent of a written Interest Election Request
in a form approved by the Administrative Agent and signed by the relevant Borrower, or the
Company on its behalf. Notwithstanding any contrary provision herein, this Section shall
not be construed to permit any Borrower to (i) change the currency of any Borrowing, (ii)
elect an Interest Period for Eurocurrency Loans that does not comply with Section 2.02(d) or
(iii) convert any Borrowing to a Borrowing of a Type not available under such Borrowing.

     (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

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

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

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

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

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

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

     (e) If the relevant Borrower fails to deliver a timely Interest Election Request with
respect to a Eurocurrency Revolving Borrowing prior to the end of the Interest Period
applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of
such Interest Period (i) in the case of a Borrowing denominated in Dollars, such Borrowing
shall be converted to an ABR Borrowing and (ii) in the case of a Borrowing denominated in a
Foreign Currency in respect of which the applicable Borrower shall have failed to deliver an
Interest Election Request prior to the third (3rd) Business Day preceding the end
of such Interest Period, such Borrowing

31

 

shall automatically continue as a Eurocurrency Borrowing in the same Agreed Currency
with an Interest Period of one month unless such Eurocurrency Borrowing is or was repaid in
accordance with Section 2.11. Notwithstanding any contrary provision hereof, if an Event of
Default has occurred and is continuing and the Administrative Agent, at the request of the
Required Lenders, so notifies the Company, then, so long as an Event of Default is
continuing (i) no outstanding Revolving Borrowing denominated in Dollars may be converted to
or continued as a Eurocurrency Borrowing, (ii) unless repaid, each Eurocurrency Revolving
Borrowing denominated in Dollars shall be converted to an ABR Borrowing at the end of the
interest period applicable thereto and (iii) unless repaid, each Eurocurrency Revolving
Borrowing denominated in a Foreign Currency shall automatically be continued as a
Eurocurrency Borrowing with an Interest Period of one month.

          SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

     (b) The Company may at any time terminate, or from time to time reduce, the
Commitments; provided that (i) each reduction of the Commitments shall be in an
amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the
Company shall not terminate or reduce the Commitments if, after giving effect to any
concurrent prepayment of the Loans in accordance with Section 2.11, the Dollar Amount of the
sum of the Revolving Credit Exposures would exceed the Aggregate Commitment.

     (c) The Company shall notify the Administrative Agent of any election to terminate or
reduce the Commitments under paragraph (b) of this Section at least three (3) Business Days
prior to the effective date of such termination or reduction, specifying such election and
the effective date thereof. Promptly following receipt of any notice, the Administrative
Agent shall advise the Lenders of the contents thereof. Each notice delivered by the
Company pursuant to this Section shall be irrevocable; provided that a notice of
termination of the Commitments delivered by the Company may state that such notice is
conditioned upon the effectiveness of other credit facilities, in which case such notice may
be revoked by the Company (by notice to the Administrative Agent on or prior to the
specified effective date) if such condition is not satisfied. Any termination or reduction
of the Commitments shall be permanent. Each reduction of the Commitments shall be made
ratably among the Lenders in accordance with their respective Commitments.

          SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby unconditionally promises to pay (i) to the Administrative Agent
for the account of each Lender the then unpaid principal amount of each Revolving Loan made to such
Borrower on the Maturity Date in the currency of such Loan and (ii) in the case of the Company, to
the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the
Maturity Date and the first date after such Swingline Loan is made that is the 15th or
last day of a calendar month and is at least two (2) Business Days after such Swingline Loan is
made; provided that on each date that a Revolving Borrowing is made, the Company shall
repay all Swingline Loans then outstanding.

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

     (c) The Administrative Agent shall maintain accounts in which it shall record (i) the
amount of each Loan made hereunder, the Class, Agreed Currency and Type thereof and the

32

 

Interest Period applicable thereto, (ii) the amount of any principal or interest due
and payable or to become due and payable from each Borrower to each Lender hereunder and
(iii) the amount of any sum received by the Administrative Agent hereunder for the account
of the Lenders and each Lender’s share thereof.

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

     (e) Any Lender may request that Loans made by it to any Borrower be evidenced by a
promissory note. In such event, the relevant Borrower shall prepare, execute and deliver to
such Lender a promissory note payable to the order of such Lender (or, if requested by such
Lender, to such Lender and its registered assigns) and in a form approved by the
Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest
thereon shall at all times (including after assignment pursuant to Section 9.04) be
represented by one or more promissory notes in such form payable to the order of the payee
named therein (or, if any such promissory note is a registered note, to such payee and its
registered assigns).

          SECTION 2.11. Prepayment of Loans.

     (a) Any Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice in accordance with the provisions of
this Section 2.11(a). The applicable Borrower, or the Company on behalf of the applicable
Borrower, shall notify the Administrative Agent (and, in the case of prepayment of a
Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any prepayment
hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing, not later
than 11:00 a.m., Local Time, three (3) Business Days (in the case of a Eurocurrency
Borrowing denominated in Dollars) or four (4) Business Days (in the case of a Eurocurrency
Borrowing denominated in a Foreign Currency), in each case before the date of prepayment,
(ii) in the case of prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., New
York City time, one (1) Business Day before the date of prepayment or (iii) in the case of
prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date
of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date
and the principal amount of each Borrowing or portion thereof to be prepaid;
provided that, if a notice of prepayment is given in connection with a conditional
notice of termination of the Commitments as contemplated by Section 2.09, then such notice
of prepayment may be revoked if such notice of termination is revoked in accordance with
Section 2.09. Promptly following receipt of any such notice relating to a Revolving
Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each
partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted
in the case of an advance of a Revolving Borrowing of the same Type as provided in Section
2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans
included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued interest
to the extent required by Section 2.13 and (ii) break funding payments pursuant to Section
2.16.

     (b) If at any time, (i) other than as a result of fluctuations in currency exchange
rates, (A) the sum of the aggregate principal Dollar Amount of all of the Revolving Credit
Exposures (calculated, with respect to those Credit Events denominated in Foreign
Currencies, as of the most recent Computation Date with respect to each such Credit Event)
exceeds the Aggregate Commitment or (B) the sum of the aggregate principal Dollar Amount of
all of the outstanding

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Revolving Credit Exposures denominated in Foreign Currencies (the “Foreign Currency
Exposure”) (so calculated), as of the most recent Computation Date with respect to each
such Credit Event, exceeds the Foreign Currency Sublimit or (ii) solely as a result of
fluctuations in currency exchange rates, (A) the sum of the aggregate principal Dollar
Amount of all of the Revolving Credit Exposures (so calculated) exceeds 105% of the
Aggregate Commitment or (B) the Foreign Currency Exposure, as of the most recent Computation
Date with respect to each such Credit Event, exceeds 105% of the Foreign Currency Sublimit,
the Borrowers shall in each case immediately repay Borrowings or cash collateralize LC
Exposure in an account with the Administrative Agent pursuant to Section 2.06(j), as
applicable, in an aggregate principal amount sufficient to cause (x) the aggregate Dollar
Amount of all Revolving Credit Exposures (so calculated) to be less than or equal to the
Aggregate Commitment and (y) the Foreign Currency Exposure to be less than or equal to the
Foreign Currency Sublimit, as applicable.

          SECTION 2.12. Fees. (a) The Company agrees to pay to the Administrative Agent for the account of each Lender a
commitment fee, which shall accrue at the Applicable Rate on the daily Available Revolving
Commitment of such Lender during the period from and including the Effective Date to but excluding
the date on which such Commitment terminates; provided that, if such Lender continues to
have any Revolving Credit Exposure after its Commitment terminates, then such commitment fee shall
continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and
including the date on which its Commitment terminates to but excluding the date on which such
Lender ceases to have any Revolving Credit Exposure. Accrued commitment fees shall be payable in
arrears on the last day of March, June, September and December of each year and on the date on
which the Commitments terminate, commencing on the first such date to occur after the date hereof;
provided that any commitment fees accruing after the date on which the Commitments
terminate shall be payable on demand. All commitment fees shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day).

     (b) The Company agrees to pay (i) to the Administrative Agent for the account of each
Lender a participation fee with respect to its participations in Letters of Credit, which
shall accrue at the same Applicable Rate used to determine the interest rate applicable to
Eurocurrency Revolving Loans on the average daily Dollar Amount of such Lender’s LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements) during the
period from and including the Effective Date to but excluding the later of the date on which
such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC
Exposure and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue
at the rate of 0.125% per annum on the average daily Dollar Amount of the LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable
to Letters of Credit issued by the Issuing Bank during the period from and including the
Effective Date to but excluding the later of the date of termination of the Commitments and
the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard
fees and commissions with respect to the issuance, amendment, cancellation, negotiation,
transfer, presentment, renewal or extension of any Letter of Credit or processing of
drawings thereunder. Unless otherwise specified above, participation fees and fronting fees
accrued through and including the last day of March, June, September and December of each
year shall be payable on the third (3rd) Business Day following such last day,
commencing on the first such date to occur after the Effective Date; provided that
all such fees shall be payable on the date on which the Commitments terminate and any such
fees accruing after the date on which the Commitments terminate shall be payable on demand.
Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable
within ten (10) days after demand. All participation fees and fronting fees shall be
computed on the basis of a year of 360 days and shall be payable for the actual number of
days elapsed (including the first day but excluding the last day). Participation fees and
fronting fees in respect

34

 

of Letters of Credit denominated in Dollars shall be paid in Dollars, and participation
fees and fronting fees in respect of Letters of Credit denominated in a Foreign Currency
shall be paid in such Foreign Currency.

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

     (d) All fees payable hereunder shall be paid on the dates due, in Dollars (except as
otherwise expressly provided in this Section 2.12) and immediately available funds, to the
Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for
distribution, in the case of commitment fees and participation fees, to the Lenders. Fees
paid shall not be refundable under any circumstances.

          SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear
interest at the Alternate Base Rate plus the Applicable Rate.

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

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

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

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

     (f) The interest rates provided for in this Agreement, including this Section 2.13 are
minimum interest rates. When entering into this Agreement, the parties have assumed that the
interest payable at the rates set out in this Section or in other Sections of this Agreement
is not and will not become subject to the Swiss Federal Withholding Tax. Notwithstanding
that the

35

 

parties do not anticipate that any payment of interest will be subject to the Swiss
Federal Withholding Tax, they agree that, in the event that the Swiss Federal Withholding
Tax should be imposed on interest payments, the payment of interest due by the Swiss
Borrower shall, in line with and subject to Section 2.17, including the limitations therein,
be increased to an amount which (after making any deduction of the Non-Refundable Portion
(as defined below) of the Swiss Federal Withholding Tax) results in a payment to each Lender
entitled to such payment of an amount equal to the payment which would have been due had no
deduction of Swiss Federal Withholding Tax been required. For this purpose, the Swiss
Federal Withholding Tax shall be calculated on the full grossed-up interest amount. For the
purposes of this Section, “Non-Refundable Portion” shall mean Swiss Federal Withholding Tax
at the standard rate (being, as at the date hereof, 35%) unless a tax ruling issued by the
Swiss Federal Tax Administration (SFTA) confirms that, in relation to a specific Lender
based on an applicable double tax treaty, the Non-Refundable Portion is a specified lower
rate in which case such lower rate shall be applied in relation to such Lender. The Swiss
Borrower shall provide to the Administrative Agent the documents required by law or
applicable double taxation treaties for the Lenders to claim a refund of any Swiss Federal
Withholding Tax so deducted. Section 2.17(f) applies equally to this Section 2.13(f).

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency Borrowing:

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

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

then the Administrative Agent shall give notice thereof to the applicable Borrower and the Lenders
by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the applicable Borrower and the Lenders that the circumstances giving rise to such notice
no longer exist, (i) any Interest Election Request that requests the conversion of any Revolving
Borrowing to, or continuation of any Revolving Borrowing as, a Eurocurrency Borrowing shall be
ineffective and, unless repaid, (A) in the case of a Eurocurrency Borrowing denominated in Dollars,
such Borrowing shall be made as an ABR Borrowing and (B) in the case of a Eurocurrency Borrowing
denominated in a Foreign Currency, such Eurocurrency Borrowing shall be repaid on the last day of
the then current Interest Period applicable thereto and (ii) if any Borrowing Request requests a
Eurocurrency Revolving Borrowing in Dollars, such Borrowing shall be made as an ABR Borrowing (and
if any Borrowing Request requests a Eurocurrency Revolving Borrowing denominated in a Foreign
Currency, such Borrowing Request shall be ineffective); provided that if the circumstances
giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings
shall be permitted.

          SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

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

36

 

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

     (iii) subject any Recipient to any Taxes on its loans, loan principal, letters
of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto (other than (A) Indemnified Taxes, (B)
Excluded Taxes and (C) Other Connection Taxes on gross or net income, profits or
revenue (including value-added or similar Taxes));

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Loan or of maintaining its obligation to make any such Loan (including, without
limitation, pursuant to any conversion of any Borrowing denominated in an Agreed Currency into a
Borrowing denominated in any other Agreed Currency) or to increase the cost to such Lender or the
Issuing Bank of participating in, issuing or maintaining any Letter of Credit (including, without
limitation, pursuant to any conversion of any Borrowing denominated in an Agreed Currency into a
Borrowing denominated in any other Agreed Currency) or to reduce the amount of any sum received or
receivable by such Lender or the Issuing Bank hereunder, whether of principal, interest or
otherwise (including, without limitation, pursuant to any conversion of any Borrowing denominated
in an Agreed Currency into a Borrowing denominated in any other Agreed Currency), then the
applicable Borrower will pay to such Lender or the Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may
be, for such additional costs incurred or reduction suffered.

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

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

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

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compensation therefor; provided further that, if the Change in Law
giving rise to such increased costs or reductions is retroactive, then the 270-day period
referred to above shall be extended to include the period of retroactive effect thereof.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the
last day of an Interest Period applicable thereto (including as a result of an Event of Default or
as a result of any prepayment pursuant to Section 2.11), (b) the conversion of any Eurocurrency
Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to
borrow, convert, continue or prepay any Eurocurrency Loan on the date specified in any notice
delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(a)
and is revoked in accordance therewith) or (d) the assignment of any Eurocurrency Loan other than
on the last day of the Interest Period applicable thereto as a result of a request by the Company
pursuant to Section 2.19, then, in any such event, the Borrowers shall compensate each Lender for
the loss, cost and expense attributable to such event. Such loss, cost or expense to any Lender
shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the
amount of interest which would have accrued on the principal amount of such Loan had such event not
occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period
from the date of such event to the last day of the then current Interest Period therefor (or, in
the case of a failure to borrow, convert or continue, for the period that would have been the
Interest Period for such Loan), over (ii) the amount of interest which would accrue on such
principal amount for such period at the interest rate which such Lender would bid were it to bid,
at the commencement of such period, for deposits in the relevant currency of a comparable amount
and period from other banks in the eurocurrency market. A certificate of any Lender setting forth
any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be
delivered to the applicable Borrower and shall be conclusive absent manifest error. The applicable
Borrower shall pay such Lender the amount shown as due on any such certificate within ten (10) days
after receipt thereof.

          SECTION 2.17. Taxes. (a) Withholding of Taxes; Gross-Up. Each payment by any Loan Party under any Loan
Document shall be made without withholding for any Taxes, unless such withholding is required by
any law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that
it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall timely
pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with
applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party
shall be increased as necessary so that, net of such withholding (including such withholding
applicable to additional amounts payable under this Section), the applicable Recipient receives the
amount it would have received had no such withholding been made.

     (b) Payment of Other Taxes by the Borrowers. The relevant Borrower shall
timely pay any Other Taxes to the relevant Governmental Authority in accordance with
applicable law.

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

     (d) Indemnification by the Borrowers. The relevant Borrower shall indemnify
each Recipient for any Indemnified Taxes that are paid or payable by such Recipient in
connection with any Loan Document (including amounts paid or payable under this Section
2.17(d)) and any reasonable expenses arising therefrom or with respect thereto, whether or
not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. The

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indemnity under this Section 2.17(d) shall be paid within ten (10) days after the
Recipient delivers to the relevant Borrower a certificate stating the amount of any
Indemnified Taxes so paid or payable by such Recipient and describing the basis for the
indemnification claim. Such certificate shall be conclusive of the amount so paid or
payable absent manifest error. Such Recipient shall deliver a copy of such certificate to
the Administrative Agent.

     (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the
extent that any Loan Party has not already indemnified the Administrative Agent for such
Indemnified Taxes and without limiting the obligation of the Loan Parties to do so)
attributable to such Lender that are paid or payable by the Administrative Agent or the
applicable Loan Party (as applicable) in connection with any Loan Document and any
reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority. The
indemnity under this Section 2.17(e) shall be paid within ten (10) days after the
Administrative Agent delivers to the applicable Lender a certificate stating the amount of
Taxes so paid or payable by the Administrative Agent. Such certificate shall be conclusive
of the amount so paid or payable absent manifest error.

     (f) Status of Lenders. (i) Any Recipient that is entitled to an exemption
from, or reduction of, any applicable withholding Tax with respect to any payments under any
Loan Document shall deliver to the Borrowers and the Administrative Agent, at the time or
times reasonably requested by the Borrowers or the Administrative Agent, such properly
completed and executed documentation reasonably requested by the Company or the
Administrative Agent as will permit such payments to be made without, or at a reduced rate
of, withholding. In addition, any Recipient, if requested by the Borrowers or the
Administrative Agent, shall deliver such other documentation prescribed by law or reasonably
requested by the Borrowers or the Administrative Agent as will enable the Borrowers or the
Administrative Agent to determine whether or not such Recipient is subject to any
withholding (including backup withholding) or information reporting requirements.
Notwithstanding anything to the contrary in the preceding two sentences, the completion,
execution and submission of such documentation (other than such documentation set forth in
Section 2.17(f)(ii)(A) through (E) below, which, for the avoidance of doubt, includes any
successor form) shall not be required if in the Recipient’s judgment such completion,
execution or submission would subject such Recipient to any material unreimbursed cost or
expense or would materially prejudice the legal or commercial position of such Recipient.
Upon the reasonable request of any Borrower or the Administrative Agent, any Recipient shall
update any form or certification previously delivered pursuant to this Section 2.17(f). If
any form or certification previously delivered pursuant to this Section expires or becomes
obsolete or inaccurate in any respect with respect to a Recipient, such Recipient shall
promptly (and in any event within ten (10) days after such expiration, obsolescence or
inaccuracy) notify the Company and the Administrative Agent in writing of such expiration,
obsolescence or inaccuracy and update the form or certification if it is legally eligible to
do so.

     (ii) Without limiting the generality of the foregoing, if any Borrower is a U.S.
Person, any Lender with respect to such Borrower shall, if it is legally eligible to
do so, deliver to such Borrower and the Administrative Agent (in such number of
copies reasonably requested by such Borrower and the Administrative Agent) on or
prior to the date on which such Lender becomes a party hereto, duly completed and
executed copies of whichever of the following is applicable:

     (A) in the case of a Lender that is a U.S. Person, IRS Form W-9
certifying that such Lender is exempt from U.S. Federal backup withholding
tax;

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     (B) in the case of a Non-U.S. Lender claiming the benefits of an income
tax treaty to which the United States is a party (1) with respect to
payments of interest under any Loan Document, IRS Form W-8BEN establishing
an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to
the “interest” or similar article of such tax treaty and (2) with respect to
any other applicable payments under any Loan Document, IRS Form W-8BEN
establishing an exemption from, or reduction of, U.S. Federal withholding
Tax pursuant to the “business profits” or “other income” or similar article
of such tax treaty;

     (C) in the case of a Non-U.S. Lender for whom payments under any Loan
Document constitute income that is effectively connected with such Lender’s
conduct of a trade or business in the United States, IRS Form W-8ECI;

     (D) in the case of a Non-U.S. Lender claiming the benefits of the
exemption for portfolio interest under Section 881(c) of the Code both (1)
IRS Form W-8BEN and (2) a certificate substantially in the form of
Exhibit H-1, H-2, H-3 or H-4, as applicable
(a “U.S. Tax Certificate”) to the effect that such Lender is not (a)
a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a “10
percent shareholder” of any Loan Party within the meaning of Section
881(c)(3)(B) of the Code, (c) a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code and (d) conducting a trade or business
in the United States with which the relevant interest payments are
effectively connected;

     (E) in the case of a Non-U.S. Lender that is not the beneficial owner
of payments made under this Agreement (including a partnership or a
participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the
relevant forms prescribed in clauses (A), (B), (C), (D) and (F) of this
paragraph (f)(ii) that would be required of each such beneficial owner or
partner of such partnership if such beneficial owner or partner were a
Lender; provided, however, that if the Lender is a partnership and one or
more of its partners are claiming the exemption for portfolio interest under
Section 881(c) of the Code, such Lender may provide a U.S. Tax Certificate
on behalf of such partners; or

     (F) any other form prescribed by law as a basis for claiming exemption
from, or a reduction of, U.S. Federal withholding Tax together with such
supplementary documentation necessary to enable such Borrower or the
Administrative Agent to determine the amount of Tax (if any) required by law
to be withheld.

     (iii) If a payment made to a Lender under any Loan Document would be subject to
U.S. Federal withholding Tax imposed by FATCA if such Lender were to fail to comply
with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to
the Withholding Agent, at the time or times prescribed by law and at such time or
times reasonably requested by the Withholding Agent, such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Withholding Agent as
may be necessary for the Withholding Agent to comply with its obligations under
FATCA, to determine that such Lender has or has not complied with such Lender’s
obligations under FATCA and, as necessary, to determine the amount to deduct and
withhold from such

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payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement.

     (g) Treatment of Certain Refunds. If any party determines, in its sole
discretion exercised in good faith, that it has received a refund of any Taxes as to which
it has been indemnified pursuant to this Section 2.17 (including additional amounts paid
pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal to
such refund (but only to the extent of indemnity payments made under this Section with
respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including any Taxes) of such indemnified party and without interest (other than any
interest paid by the relevant Governmental Authority with respect to such refund). Such
indemnifying party, upon the request of such indemnified party, shall repay to such
indemnified party the amount paid to such indemnifying party pursuant to the previous
sentence (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) in the event such indemnified party is required to repay such refund to such
Governmental Authority. Notwithstanding anything to the contrary in this Section 2.17(g),
in no event will any indemnified party be required to pay any amount to any indemnifying
party pursuant to this Section 2.17(g) if such payment would place such indemnified party in
a less favorable position (on a net after-Tax basis) than such indemnified party would have
been in if the indemnification payments or additional amounts giving rise to such refund had
never been paid. This Section 2.17(g) shall not be construed to require any indemnified
party to make available its Tax returns (or any other information relating to its Taxes
which it deems confidential) to the indemnifying party or any other Person.

     (h) Issuing Bank. For purposes of Section 2.17(e), the term “Lender” includes
the Issuing Bank.

     (i) Compliance with Swiss Non-Bank Rules. Each Lender confirms that it is a
Qualifying Bank or, if not, a single (1) person only for the purpose of the Swiss Non-Bank
Rules and any other Person that shall become a Lender or a Participant pursuant to Section
9.04 shall be deemed to have confirmed that it is a Qualifying Bank or, if not, a single (1)
person only for the purpose of Swiss Non-Bank Rules. The Swiss Borrower may request a Lender
to confirm (i) whether or not it is (and each of its Participants are) a Qualifying Bank or
(ii) whether it (or any of its Participants) does count as a single (1) person for purposes
of the Swiss Non-Bank Rules, if it reasonably believes that that Lender’s status has changed
during the term of this Agreement.

          SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

     (a) Each Borrower shall make each payment required to be made by it hereunder (whether
of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable
under Section 2.15, 2.16 or 2.17, or otherwise) prior to (i) in the case of payments
denominated in Dollars by the Company, 12:00 noon, New York City time and (ii) in the case
of payments denominated in a Foreign Currency or by a Subsidiary Borrower, 12:00 noon, Local
Time, in the city of the Administrative Agent’s Eurocurrency Payment Office for such
currency, in each case on the date when due, in immediately available funds, without set-off
or counterclaim. Any amounts received after such time on any date may, in the discretion of
the Administrative Agent, be deemed to have been received on the next succeeding Business
Day for purposes of calculating interest thereon. All such payments shall be made (i) in
the same currency in which the applicable Credit Event was made (or where such currency has
been converted to euro, in euro) and (ii) to the Administrative Agent at its offices at 10
South Dearborn Street, Chicago, Illinois 60603 or, in the case of a Credit Event denominated
in a Foreign Currency or to a Subsidiary Borrower, the Administrative Agent’s Eurocurrency
Payment Office

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for such currency, except payments to be made directly to the Issuing Bank or Swingline
Lender as expressly provided herein and except that payments pursuant to Sections 2.15,
2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments denominated in the same currency
received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a
Business Day, the date for payment shall be extended to the next succeeding Business Day,
and, in the case of any payment accruing interest, interest thereon shall be payable for the
period of such extension. Notwithstanding the foregoing provisions of this Section, if,
after the making of any Credit Event in any Foreign Currency, currency control or exchange
regulations are imposed in the country which issues such currency with the result that the
type of currency in which the Credit Event was made (the “Original Currency”) no
longer exists or any Borrower is not able to make payment to the Administrative Agent for
the account of the Lenders in such Original Currency, then all payments to be made by such
Borrower hereunder in such currency shall instead be made when due in Dollars in an amount
equal to the Dollar Amount (as of the date of repayment) of such payment due, it being the
intention of the parties hereto that the Borrowers take all risks of the imposition of any
such currency control or exchange regulations.

     (b) If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements,
interest and fees then due hereunder, such funds shall be applied (i) first, towards payment
of interest and fees then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of interest and fees then due to such parties, and (ii) second,
towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal and
unreimbursed LC Disbursements then due to such parties.

     (c) At the election of the Administrative Agent, all payments of principal, interest,
LC Disbursements, fees, premiums, reimbursable expenses (including, without limitation, all
reimbursement for fees and expenses pursuant to Section 9.03), and other sums payable under
the Loan Documents, may be paid from the proceeds of Borrowings made hereunder whether made
following a request by a Borrower (or the Company on behalf of a Borrower) pursuant to
Section 2.03 or a deemed request as provided in this Section or may be deducted from any
deposit account of such Borrower maintained with the Administrative Agent. Each Borrower
hereby irrevocably authorizes (i) the Administrative Agent to make a Borrowing for the
purpose of paying each payment of principal, interest and fees as it becomes due hereunder
or any other amount due under the Loan Documents and agrees that all such amounts charged
shall constitute Loans (including Swingline Loans) and that all such Borrowings shall be
deemed to have been requested pursuant to Sections 2.03, 2.04 or 2.05, as applicable and
(ii) the Administrative Agent to charge any deposit account of the relevant Borrower
maintained with the Administrative Agent for each payment of principal, interest and fees as
it becomes due hereunder or any other amount due under the Loan Documents.

     (d) If any Lender shall, by exercising any right of set-off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of its Revolving
Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender
receiving payment of a greater proportion of the aggregate amount of its Revolving Loans and
participations in LC Disbursements and Swingline Loans and accrued interest thereon than the
proportion received by any other Lender, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Revolving Loans and
participations in LC Disbursements and Swingline Loans of other Lenders to the extent
necessary so that the benefit

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

     (e) Unless the Administrative Agent shall have received notice from the relevant
Borrower prior to the date on which any payment is due to the Administrative Agent for the
account of the Lenders or the Issuing Bank hereunder that such Borrower will not make such
payment, the Administrative Agent may assume that such Borrower has made such payment on
such date in accordance herewith and may, in reliance upon such assumption, distribute to
the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if such
Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as
the case may be, severally agrees to repay to the Administrative Agent forthwith on demand
the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of
payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and
a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation (including without limitation the Overnight Foreign Currency Rate in
the case of Loans denominated in a Foreign Currency).

     (f) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(e) or 9.03(c), then the Administrative Agent
may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any
amounts thereafter received by the Administrative Agent for the account of such Lender and
for the benefit of the Administrative Agent, the Swingline Lender or the Issuing Bank to
satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations
are fully paid and/or (ii) hold any such amounts in a segregated account as cash collateral
for, and application to, any future funding obligations of such Lender under such Sections;
in the case of each of (i) and (ii) above, in any order as determined by the Administrative
Agent in its discretion.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under Section 2.15, or if any Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.13(f) or Section 2.17, then such Lender shall use reasonable efforts
to designate a different lending office for funding or booking its Loans hereunder or to assign its
rights and obligations hereunder to another of its offices, branches or affiliates, if, in the
judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.13(f), 2.15 or 2.17, as the case may be, in the future and (ii) would
not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Company hereby agrees to pay all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment.

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     (b) If (i) any Lender requests compensation under Section 2.15, (ii) any Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.13(f) or Section 2.17 or (iii) any Lender
becomes a Defaulting Lender, then the Company may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 9.04), all its interests, rights and obligations under the Loan Documents to an
assignee that shall assume such obligations (which assignee may be another Lender, if a
Lender accepts such assignment); provided that (i) the Company shall have received
the prior written consent of the Administrative Agent (and if a Commitment is being
assigned, the Issuing Bank), which consent shall not unreasonably be withheld, (ii) such
Lender shall have received payment of an amount equal to the outstanding principal of its
Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent
of such outstanding principal and accrued interest and fees) or the Company (in the case of
all other amounts) and (iii) in the case of any such assignment resulting from a claim for
compensation under Section 2.15 or payments required to be made pursuant to Section 2.13(f)
or Section 2.17, such assignment will result in a reduction in such compensation or
payments. A Lender shall not be required to make any such assignment and delegation if,
prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Company to require such assignment and delegation cease to apply.

          SECTION 2.20. Expansion Option. The Company may from time to time elect to increase the Commitments or enter into one or
more tranches of term loans (each an “Incremental Term Loan”), in each case in minimum
increments of $25,000,000 so long as, after giving effect thereto, the aggregate amount of such
increases and all such Incremental Term Loans does not exceed $150,000,000. The Company may
arrange for any such increase or tranche to be provided by one or more Lenders (each Lender so
agreeing to an increase in its Commitment, or to participate in such Incremental Term Loans, an
“Increasing Lender”), or by one or more new banks, financial institutions or other entities
(each such new bank, financial institution or other entity, an “Augmenting Lender”;
provided that none of the Parent or any of its Subsidiaries or Affiliates or a natural
person may be an Augmenting Lender), to increase their existing Commitments, or to participate in
such Incremental Term Loans, or extend Commitments, as the case may be; provided that (i)
each Augmenting Lender, shall be subject to the approval of the Company and the Administrative
Agent and (ii) (x) in the case of an Increasing Lender, the Company and such Increasing Lender
execute an agreement substantially in the form of Exhibit C hereto, and (y) in the case of
an Augmenting Lender, the Company and such Augmenting Lender execute an agreement substantially in
the form of Exhibit D hereto. No consent of any Lender (other than the Lenders
participating in the increase or any Incremental Term Loan) shall be required for any increase in
Commitments or Incremental Term Loan pursuant to this Section 2.20. Increases and new Commitments
and Incremental Term Loans created pursuant to this Section 2.20 shall become effective on the date
agreed by the Company, the Administrative Agent and the relevant Increasing Lenders or Augmenting
Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the
foregoing, no increase in the Commitments (or in the Commitment of any Lender) or tranche of
Incremental Term Loans shall become effective under this paragraph unless, (i) on the proposed date
of the effectiveness of such increase or Incremental Term Loans, (A) the conditions set forth in
paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the
Administrative Agent shall have received a certificate to that effect dated such date and executed
by a Financial Officer of the Parent and (B) the Parent shall be in compliance (on a Pro
Forma Basis reasonably acceptable to the Administrative Agent) with the covenants contained
in Section 6.12 and (ii) the Administrative Agent shall have received documents consistent with
those delivered on the Effective Date as to the corporate power and authority of the Borrowers to
borrow hereunder after giving effect to such increase. On the effective date of any increase in
the Commitments or any Incremental Term Loans being made, (i) each

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relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in
immediately available funds as the Administrative Agent shall determine, for the benefit of the
other Lenders, as being required in order to cause, after giving effect to such increase and the
use of such amounts to make payments to such other Lenders, each Lender’s portion of the
outstanding Revolving Loans of all the Lenders to equal its Applicable Percentage of such
outstanding Revolving Loans, and (ii) except in the case of any Incremental Term Loans, the
Borrowers shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the
date of any increase in the Commitments (with such reborrowing to consist of the Types of Revolving
Loans, with related Interest Periods if applicable, specified in a notice delivered by the
applicable Borrower, or the Company on behalf of the applicable Borrower, in accordance with the
requirements of Section 2.03). The deemed payments made pursuant to clause (ii) of the immediately
preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid
and, in respect of each Eurocurrency Loan, shall be subject to indemnification by the Borrowers
pursuant to the provisions of Section 2.16 if the deemed payment occurs other than on the last day
of the related Interest Periods. The Incremental Term Loans (a) shall rank pari passu in right of
payment with the Revolving Loans, (b) shall not mature earlier than the Maturity Date (but may have
amortization prior to such date) and (c) shall be treated substantially the same as (and in any
event no more favorably than) the Revolving Loans; provided that (i) the terms and
conditions applicable to any tranche of Incremental Term Loans maturing after the Maturity Date may
provide for material additional or different financial or other covenants or prepayment
requirements applicable only during periods after the Maturity Date and (ii) the Incremental Term
Loans may be priced differently than the Revolving Loans. Incremental Term Loans may be made
hereunder pursuant to an amendment or restatement (an “Incremental Term Loan Amendment”) of
this Agreement and, as appropriate, the other Loan Documents, executed by the Borrowers, each
Increasing Lender participating in such tranche, each Augmenting Lender participating in such
tranche, if any, and the Administrative Agent. The Incremental Term Loan Amendment may, without
the consent of any other Lenders, effect such amendments to this Agreement and the other Loan
Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative
Agent, to effect the provisions of this Section 2.20. Nothing contained in this Section 2.20 shall
constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its
Commitment hereunder, or provide Incremental Term Loans, at any time.

          SECTION 2.21. [Intentionally Omitted].

          SECTION 2.22. Judgment Currency. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due
from any Borrower hereunder in the currency expressed to be payable herein (the “specified
currency”) into another currency, the parties hereto agree, to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal
banking procedures the Administrative Agent could purchase the specified currency with such other
currency at the Administrative Agent’s main New York City office on the Business Day preceding that
on which final, non-appealable judgment is given. The obligations of each Borrower in respect of
any sum due to any Lender or the Administrative Agent hereunder shall, notwithstanding any judgment
in a currency other than the specified currency, be discharged only to the extent that on the
Business Day following receipt by such Lender or the Administrative Agent (as the case may be) of
any sum adjudged to be so due in such other currency such Lender or the Administrative Agent (as
the case may be) may in accordance with normal, reasonable banking procedures purchase the
specified currency with such other currency. If the amount of the specified currency so purchased
is less than the sum originally due to such Lender or the Administrative Agent, as the case may be,
in the specified currency, each Borrower agrees, to the fullest extent that it may effectively do
so, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender or the
Administrative Agent, as the case may be, against such loss, and if the amount of the specified
currency so purchased exceeds (a) the sum originally due to any Lender or the Administrative Agent,
as the case may be, in the specified currency

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and (b) any amounts shared with other Lenders as a
result of allocations of such excess as a disproportionate payment to such Lender under Section 2.18, such Lender or the Administrative
Agent, as the case may be, agrees to remit such excess to such Borrower.

          SECTION 2.23. Designation of Subsidiary Borrowers. On the Effective Date, and subject to the satisfaction of the applicable conditions in
Article IV hereto, the Initial Subsidiary Borrowers shall become Subsidiary Borrowers party to this
Agreement until the Company shall have executed and delivered to the Administrative Agent a
Borrowing Subsidiary Termination with respect to any such Subsidiary, whereupon such Subsidiary
shall cease to be a Subsidiary Borrower and a party to this Agreement. After the Effective Date,
the Company may at any time and from time to time designate any Eligible Subsidiary as a Subsidiary
Borrower by delivery to the Administrative Agent of a Borrowing Subsidiary Agreement executed by
such Subsidiary and the Company and the satisfaction of the other conditions precedent set forth in
Section 4.03, and upon such delivery and satisfaction such Subsidiary shall for all purposes of
this Agreement be a Subsidiary Borrower and a party to this Agreement until the Company shall have
executed and delivered to the Administrative Agent a Borrowing Subsidiary Termination with respect
to such Subsidiary, whereupon such Subsidiary shall cease to be a Subsidiary Borrower and a party
to this Agreement. Notwithstanding the preceding sentence, no Borrowing Subsidiary Termination
will become effective as to any Subsidiary Borrower at a time when any principal of or interest on
any Loan to such Borrower shall be outstanding hereunder, provided that such Borrowing
Subsidiary Termination shall be effective to terminate the right of such Subsidiary Borrower to
make further Borrowings under this Agreement. As soon as practicable upon receipt of a Borrowing
Subsidiary Agreement, the Administrative Agent shall furnish a copy thereof to each Lender.

          SECTION 2.24. Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then the following provisions shall apply for so long as such Lender is a
Defaulting Lender:

     (a) fees shall cease to accrue on the unfunded portion of the Commitment of such
Defaulting Lender pursuant to Section 2.12(a);

     (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether the Required Lenders have taken or may take any action
hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 9.02); provided, that this clause (b) shall not apply to the vote of a
Defaulting Lender in the case of an amendment, waiver or other modification requiring the
consent of such Lender or each Lender affected thereby;

     (c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a
Defaulting Lender then:

     (i) all or any part of the Swingline Exposure and LC Exposure of such
Defaulting Lender shall be reallocated among the non-Defaulting Lenders in
accordance with their respective Applicable Percentages but only to the extent the
sum of all non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting
Lender’s Swingline Exposure and LC Exposure does not exceed the total of all
non-Defaulting Lenders’ Commitments;

     (ii) if the reallocation described in clause (i) above cannot, or can only
partially, be effected, the Company shall within one (1) Business Day following
notice by the Administrative Agent (x) first, prepay such Swingline Exposure
and (y) second, cash collateralize for the benefit of the Issuing Bank only
the Borrowers’ obligations

46

 

corresponding to such Defaulting Lender’s LC Exposure
(after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures
set forth in Section 2.06(j) for so long as such LC Exposure is outstanding;

     (iii) if the Company cash collateralizes any portion of such Defaulting
Lender’s LC Exposure pursuant to clause (ii) above, the Borrowers shall not be
required to pay any fees to such Defaulting Lender pursuant to Section 2.12(b) with
respect to such Defaulting Lender’s LC Exposure during the period such Defaulting
Lender’s LC Exposure is cash collateralized;

     (iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant
to clause (i) above, then the fees payable to the Lenders pursuant to Section
2.12(a) and Section 2.12(b) shall be adjusted in accordance with such non-Defaulting
Lenders’ Applicable Percentages; and

     (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither
reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then,
without prejudice to any rights or remedies of the Issuing Bank or any other Lender
hereunder, all letter of credit fees payable under Section 2.12(b) with respect to
such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and
to the extent that such LC Exposure is reallocated and/or cash collateralized; and

     (d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be
required to fund any Swingline Loan and the Issuing Bank shall not be required to issue,
amend or increase any Letter of Credit, unless it is satisfied that the related exposure and
the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Commitments
of the non-Defaulting Lenders and/or cash collateral will be provided by the Company in
accordance with Section 2.24(c), and participating interests in any such newly made
Swingline Loan or any newly issued or increased Letter of Credit shall be allocated among
non-Defaulting Lenders in a manner consistent with Section 2.24(c)(i) (and such Defaulting
Lender shall not participate therein).

     If (i) a Bankruptcy Event with respect to any Person of which any Lender is, directly or
indirectly, a subsidiary shall occur following the date hereof and for so long as such event shall
continue or (ii) the Swingline Lender or the Issuing Bank has a good faith belief that any Lender
has defaulted in fulfilling its obligations under one or more other agreements in which such Lender
commits to extend credit, the Swingline Lender shall not be required to fund any Swingline Loan and
the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless the
Swingline Lender or the Issuing Bank, as the case may be, shall have entered into arrangements with
the Company or such Lender, satisfactory to the Swingline Lender or the Issuing Bank, as the case
may be, to defease any risk to it in respect of such Lender hereunder.

     In the event that the Administrative Agent, the Company, the Swingline Lender and the Issuing
Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such
Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall
be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender
shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the
Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans
in accordance with its Applicable Percentage.

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ARTICLE III

Representations and Warranties

          The Parent and each Borrower represents and warrants to the Lenders that:

          SECTION 3.01. Organization; Powers; Subsidiaries. Each of the
Parent and its Subsidiaries is duly organized, validly existing and in good
standing (to the extent such concept is applicable in the relevant jurisdiction) under the laws of
the jurisdiction of its organization, has all requisite power and authority to carry on its
business as now conducted and, except where the failure to do so, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect, is qualified to do
business in, and is in good standing (to the extent such concept is applicable) in, every
jurisdiction where such qualification is required. Schedule 3.01A hereto (as supplemented
from time to time) identifies each Subsidiary, noting whether such Subsidiary is a Material
Subsidiary, the jurisdiction of its incorporation or organization, as the case may be, the
percentage of issued and outstanding shares of each class of its capital stock or other equity
interests owned by the Parent and the other Subsidiaries and, if such percentage is not 100%
(excluding directors’ qualifying shares as required by law), a description of each class issued and
outstanding. All of the outstanding shares of capital stock and other equity interests of each
Subsidiary are validly issued and outstanding and fully paid and nonassessable and all such shares
and other equity interests indicated on Schedule 3.01A as owned by the Parent or another
Subsidiary are owned, beneficially and of record, by the Parent or any Subsidiary free and clear of
all Liens. Except as described on Schedule 3.01B hereto, there are no outstanding
commitments or other obligations of the Parent or any Subsidiary to issue, and no options, warrants
or other rights of any Person to acquire, any shares of any class of capital stock or other equity
interests of the Parent or any Subsidiary.

          SECTION 3.02. Authorization; Enforceability. The Transactions are within each Loan Party’s organizational powers and have been duly
authorized by all necessary organizational actions and, if required, actions by equity holders.
The Loan Documents to which each Loan Party is a party have been duly executed and delivered by
such Loan Party and constitute a legal, valid and binding obligation of such Loan Party,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditors’ rights generally and subject to
general principles of equity, regardless of whether considered in a proceeding in equity or at law.

          SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing
with, or any other action by, any Governmental Authority, except such as have been obtained or made
and are in full force and effect, (b) will not violate any applicable law or regulation or the
charter, by-laws or other organizational documents of the Parent or any of its Subsidiaries or any
order of any Governmental Authority, (c) will not violate or result in a default under any
indenture, agreement or other instrument binding upon the Parent or any of its Subsidiaries or its
assets, or give rise to a right thereunder to require any payment to be made by the Parent or any
of its Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset
of the Parent or any of its Subsidiaries.

          SECTION 3.04. Financial Condition; No Material Adverse Change. (a) The Parent has heretofore furnished to the Lenders its consolidated balance sheet and
statements of income, stockholders equity and cash flows as of and for the fiscal year ended June
30, 2011 reported on by Ernst & Young LLP, independent public accountants. Such financial
statements present fairly, in all material respects, the financial position and results of
operations and cash flows of the Parent and its consolidated Subsidiaries as of such dates and for
such periods in accordance with GAAP.

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     (b) Since June 30, 2011, there has been no material adverse change in the business,
assets, operations or condition (financial or otherwise) of the Parent and its Subsidiaries,
taken as a whole.

          SECTION 3.05. Properties. (a) Each of the Parent and its Subsidiaries has good title to, or valid leasehold interests
in, all its real and personal property material to its business, except for minor defects in title
that do not interfere with its ability to conduct its business as currently conducted or to utilize
such properties for their intended purposes.

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

          SECTION 3.06. Litigation, Environmental and Labor Matters. (a) There are no actions, suits, proceedings or investigations by or before any arbitrator
or Governmental Authority pending against or, to the knowledge of any Borrower, threatened against
or affecting the Parent or any of its Subsidiaries (i) as to which there is a reasonable
possibility of an adverse determination and that, if adversely determined, could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that
involve this Agreement or the Transactions.

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

     (c) There are no strikes, lockouts or slowdowns against the Parent or any of its
Subsidiaries pending or, to their knowledge, threatened. The hours worked by and payments
made to employees of the Parent and its Subsidiaries have not been in violation of the Fair
Labor Standards Act or any other applicable Federal, state, local or foreign law relating to
such matters. All material payments due from the Parent or any of its Subsidiaries, or for
which any claim may be made against the Parent or any of its Subsidiaries, on account of
wages and employee health and welfare insurance and other benefits, have been paid or
accrued as liabilities on the books of the Parent or such Subsidiary. The consummation of
the Transactions will not give rise to any right of termination or right of renegotiation on
the part of any union under any collective bargaining agreement under which the Parent or
any of its Subsidiaries is bound.

          SECTION 3.07. Compliance with Laws and Agreements. Each of the Parent and its Subsidiaries is in compliance with all laws, regulations and
orders of any Governmental Authority applicable to it or its property and all indentures,
agreements and other instruments binding upon it or its property, except where the failure to do
so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect.

          SECTION 3.08. Investment Company Status. Neither the Parent nor any of its Subsidiaries is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940.

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          SECTION 3.09. Taxes. Each of the Parent and its Subsidiaries has timely filed or caused to be filed all Tax
returns and reports required to have been filed and has paid or caused to be paid all Taxes
required to have been paid by it, except (a) Taxes that are being contested in good faith by
appropriate proceedings and for which the Parent or such Subsidiary, as applicable, has set aside
on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably
be expected to result in a Material Adverse Effect.

          SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together
with all other such ERISA Events for which liability is reasonably expected to occur, could
reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.11. Disclosure. The Company has disclosed to the Lenders all agreements, instruments and corporate or other
restrictions to which it, the Parent or any other Subsidiary is subject, and all other matters
known to it, that, individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect. Neither the Information Memorandum nor any of the other reports,
financial statements, certificates or other information furnished by or on behalf of the Parent,
the Company or any Subsidiary to the Administrative Agent or any Lender in connection with the
negotiation of this Agreement or delivered hereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information,
each of the Parent and the Borrowers represent only that such information was prepared in good
faith based upon assumptions believed to be reasonable at the time.

          SECTION 3.12. Federal Reserve Regulations. No part of the proceeds of any Loan have been used or will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

          SECTION 3.13. Liens. There are no Liens on any of the real or personal properties of the Parent or any
Subsidiary except for Liens permitted by Section 6.02.

          SECTION 3.14. No Default. No Default or Event of Default has occurred and is continuing.

          SECTION 3.15. No Burdensome Restrictions. No Borrower is subject to any Burdensome Restrictions except Burdensome Restrictions
permitted under Section 6.08.

          SECTION 3.16. Compliance with Swiss Non-Bank Rules.

     (a) The Swiss Borrower is compliant with the Swiss Non-Bank Rules; provided however
that the Swiss Borrower shall not be in breach of this Section 3.16 if such number of
creditors (which are not Qualifying Banks) is exceeded solely by reason of a breach by one
or more Lenders of a confirmation contained in Section 2.17(i) or a failure by one or more
Lenders to comply with their obligations and transfer restrictions in Section 9.04.

     (b) For the purposes of paragraph (a) above, the Swiss Borrower shall assume that the
aggregate number of Lenders which are not Swiss Qualifying Banks is five (5).

          SECTION 3.17. Financial Assistance. In respect of each Loan Party, the execution of the Loan Documents and the performance of
the transaction contemplated thereby do not involve the giving of any financial assistance by any
such Loan Party to a third party in connection with the

50

 

acquisition of
shares in its capital or that of its parent company that is not permitted under any relevant
law or regulation.

ARTICLE IV

Conditions

          SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of
Credit hereunder shall not become effective until the date on which each of the following
conditions is satisfied (or waived in accordance with Section 9.02):

     (a) The Administrative Agent (or its counsel) shall have received (i) from each party
hereto either (A) a counterpart of this Agreement signed on behalf of such party or (B)
written evidence satisfactory to the Administrative Agent (which may include telecopy or
electronic transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement and (ii) duly executed copies of the Loan Documents
and such other legal opinions, certificates, documents, instruments and agreements in
respect of the Loan Parties as the Administrative Agent shall reasonably request in
connection with the Transactions, all in form and substance satisfactory to the Company and
Administrative Agent and its counsel and as further described in the list of closing
documents attached as Exhibit E.

     (b) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the Effective Date) of each of (i)
Goodwin Procter LLP, U.S. counsel for the Loan Parties, substantially in the form of
Exhibit B-1, (ii) Appleby, Bermuda counsel for the Loan Parties, substantially in
the form of Exhibit B-2, (iii) Stibbe, Dutch counsel for the Loan Parties,
substantially in the form of Exhibit B-3, (iv) Baker & McKenzie Zurich, Swiss
counsel for the Loan Parties, substantially in the form of Exhibit B-4, (v) Clayton
Utz, Australian counsel for the Loan Parties, substantially in the form of Exhibit
B-5 and (vi) Stewart McKelvey Stirling Scales, Nova Scotia counsel for the Loan Parties,
substantially in the form of Exhibit B-6, and in each case covering such other
matters relating to the Loan Parties, the Loan Documents or the Transactions as the
Administrative Agent shall reasonably request. The Company hereby requests such counsel to
deliver such opinion.

     (c) The Lenders shall have received (i) audited consolidated financial statements of
the Parent for the two most recent fiscal years ended prior to the Effective Date as to
which such financial statements are available, (ii) unaudited interim consolidated
financial statements of the Parent for each quarterly period ended subsequent to the date of
the latest financial statements delivered pursuant to clause (i) of this paragraph as to
which such financial statements are publicly available and (iii) financial statement
projections through and including the Parent’s 2016 fiscal year, together with such
information as the Administrative Agent and the Lenders shall reasonably request (including,
without limitation, a detailed description of the assumptions used in preparing such
projections).

     (d) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the initial Loan Parties, the authorization of the
Transactions and any other legal matters relating to such Loan Parties, the Loan Documents
or the Transactions, all in form and substance satisfactory to the Administrative Agent and
its counsel and as further described in the list of closing documents attached as
Exhibit E.

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     (e) The Administrative Agent shall have received a certificate, dated the Effective
Date and signed by the President, a Vice President or a Financial Officer of the Company,
confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section
4.02.

     (f) The Administrative Agent shall have received evidence reasonably satisfactory to it
that any credit facility currently in effect for the Parent and its Subsidiaries and not
described on Schedule 6.01 hereto shall have been terminated and cancelled and all
indebtedness thereunder shall have been fully repaid (except to the extent being so repaid
with the initial Revolving Loans) and any and all liens thereunder shall have been
terminated.

     (g) The Administrative Agent shall have received evidence reasonably satisfactory to it
that all governmental and third party approvals necessary in connection with the
Transactions and the continuing operations of the Parent and its Subsidiaries have been
obtained and are in full force and effect.

     (h) The Administrative Agent shall have received a letter from the Service of Process
Agent, presently located at 111 Eighth Avenue, New York, New York, 10011, confirming its
consent to its appointment by the Parent and each Subsidiary as their agent to receive
service of process as specified in this Agreement and that such consent is in full force and
effect and applies to this Agreement in all respects.

     (i) The Administrative Agent shall have received all fees and other amounts due and
payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement
or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company
hereunder.

The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such
notice shall be conclusive and binding.

          SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the
Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction
of the following conditions:

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

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

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

          SECTION 4.03. Designation of a Subsidiary Borrower. The designation of a Subsidiary Borrower is subject to the condition precedent that the
Company or such proposed Subsidiary Borrower shall have furnished or caused to be furnished to the
Administrative Agent:

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     (a) Copies, certified by the Secretary or Assistant Secretary of such Subsidiary, of
its Board of Directors’ resolutions (and resolutions of other bodies, if any are deemed
necessary by counsel for the Administrative Agent) approving the Borrowing Subsidiary
Agreement and any other Loan Documents to which such Subsidiary is becoming a party and such
documents and certificates as the Administrative Agent or its counsel may reasonably request
relating to the organization, existence and good standing of such Subsidiary;

     (b) An incumbency certificate, executed by the Secretary or Assistant Secretary of such
Subsidiary, which shall identify by name and title and bear the signature of the officers of
such Subsidiary authorized to request Borrowings hereunder and sign the Borrowing Subsidiary
Agreement and the other Loan Documents to which such Subsidiary is becoming a party, upon
which certificate the Administrative Agent and the Lenders shall be entitled to rely until
informed of any change in writing by the Company or such Subsidiary;

     (c) Opinions of counsel to such Subsidiary, in form and substance reasonably
satisfactory to the Administrative Agent and its counsel, with respect to the laws of its
jurisdiction of organization and such other matters as are reasonably requested by counsel
to the Administrative Agent and addressed to the Administrative Agent and the Lenders; and

     (d) Any promissory notes requested by any Lender, and any other instruments and
documents reasonably requested by the Administrative Agent.

ARTICLE V

Affirmative Covenants

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

          SECTION 5.01. Financial Statements and Other Information. The Parent or the Company, as applicable, will furnish to the Administrative Agent and each
Lender:

     (a) within ninety (90) days after the end of each fiscal year of the Parent (or, if
earlier, by the date that the Annual Report on Form 10-K of the Parent for such fiscal year
would be required to be filed under the rules and regulations of the SEC, giving effect to
any automatic extension available thereunder for the filing of such form), its audited
consolidated balance sheet and related statements of operations, stockholders’ equity and
cash flows as of the end of and for such year, setting forth in each case in comparative
form the figures for the previous fiscal year, all reported on by Ernst & Young LLP{ or
other independent public accountants of recognized national standing (without a “going
concern” or like qualification or exception and without any qualification or exception as to
the scope of such audit) to the effect that such consolidated financial statements present
fairly in all material respects the financial condition and results of operations of the
Parent and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP
consistently applied;

     (b) within forty-five (45) days after the end of each of the first three fiscal
quarters of each fiscal year of the Parent (or, if earlier, by the date that the Quarterly
Report on Form 10-Q of the Parent for such fiscal quarter would be required to be filed
under the rules and regulations of the SEC, giving effect to any automatic extension
available thereunder for the filing of such

53

 

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

     (c) concurrently with any delivery of financial statements under clause (a) or (b)
above, a certificate of a Financial Officer of the Parent or the Company, as applicable, (i)
certifying as to whether a Default has occurred and, if a Default has occurred, specifying
the details thereof and any action taken or proposed to be taken with respect thereto, (ii)
setting forth reasonably detailed calculations demonstrating compliance with Section 6.12
and (iii) stating whether any change in GAAP or in the application thereof has occurred
since the date of the audited financial statements referred to in Section 3.04 and, if any
such change has occurred, specifying the effect of such change on the financial statements
accompanying such certificate;

     (d) [intentionally omitted];

     (e) as soon as available, but in any event not more than sixty (60) days after the end
of each fiscal year of the Parent, a copy of the plan and forecast (including a projected
consolidated balance sheet, income statement and cash flow statement) of the Parent for each
month of the upcoming fiscal year in form reasonably satisfactory to the Administrative
Agent;

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

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

Documents required to be delivered pursuant to clauses (a) and (b) of this Section 5.01 may
be delivered electronically and if so delivered, shall be deemed to have been delivered on
the date on which such documents are filed for public availability on the SEC’s Electronic
Data Gathering and Retrieval System; provided that the Company or the Parent shall
notify (which may be by facsimile or electronic mail) the Administrative Agent of the filing
of any such documents and provide to the Administrative Agent by electronic mail electronic
versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein,
in every instance the Parent or the Company, as applicable, shall be required to provide
copies of the compliance certificates required by clause (c) of this Section 5.01 to the
Administrative Agent.

          SECTION 5.02. Notices of Material Events. The Company will furnish to the Administrative Agent and each Lender prompt written notice
of the following:

     (a) the occurrence of any Default;

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

     (c) the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse
Effect; and

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

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

          SECTION 5.03. Existence; Conduct of Business. The Parent will, and will cause each of its Subsidiaries to, do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence and the
rights, qualifications, licenses, permits, privileges, franchises, governmental authorizations and
intellectual property rights material to the conduct of its business, and maintain all requisite
authority to conduct its business in each jurisdiction in which its business is conducted;
provided that the foregoing shall not prohibit any merger, consolidation, liquidation or
dissolution permitted under Section 6.03.

          SECTION 5.04. Payment of Obligations. The Parent will, and will cause each of its Subsidiaries to, pay its obligations, including
Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall
become delinquent or in default, except where (a) the validity or amount thereof is being contested
in good faith by appropriate proceedings, (b) the Parent or such Subsidiary has set aside on its
books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make
payment pending such contest could not reasonably be expected to result in a Material Adverse
Effect.

          SECTION 5.05. Maintenance of Properties; Insurance. The Parent will, and will cause each of its Subsidiaries to, (a) keep and maintain all
property material to the conduct of its business in good working order and condition, ordinary wear
and tear excepted, and (b) maintain, with financially sound and reputable insurance companies,
insurance in such amounts and against such risks as are customarily maintained by companies engaged
in the same or similar businesses operating in the same or similar locations.

          SECTION 5.06. Books and Records; Inspection Rights. The Parent will, and will cause each of its Subsidiaries to, keep proper books of record
and account in which full, true and correct entries in conformity with GAAP and applicable law are
made of all material financial dealings and transactions in relation to its business and
activities. The Parent will, and will cause each of its Subsidiaries to, permit any
representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice,
to visit and inspect its properties, to examine and make extracts from its books and records, and
to discuss its affairs, finances and condition with its officers and independent accountants, all
at such reasonable times and as often as reasonably requested. The Parent acknowledges that the
Administrative Agent, after exercising its rights of inspection, may prepare and distribute to the
Lenders certain reports pertaining to the Parent and its Subsidiaries’ assets for internal use by
the Administrative Agent and the Lenders.

          SECTION 5.07. Compliance with Laws. The Parent will, and will cause each of its Subsidiaries to comply with all laws, rules,
regulations and orders of any Governmental Authority

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applicable to it or its property (including without limitation Environmental Laws), except
where the failure to do so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect.

          SECTION 5.08. Use of Proceeds. The proceeds of the Loans will be used only to finance the working capital needs, and for
general corporate purposes, of the Parent and its Subsidiaries in the ordinary course of business,
including acquisitions and repurchases of Equity Interests, in each case to the extent permitted
under this Agreement. No part of the proceeds of any Loan will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

          SECTION 5.09. Guaranty. As promptly as possible but in any event within thirty (30) days (or such later date as may
be agreed upon by the Administrative Agent) after any Person becomes a Subsidiary or any Subsidiary
qualifies independently as, or is designated by the Company or the Administrative Agent as, a
Subsidiary Guarantor pursuant to the definition of “Material Subsidiary”, the Company shall provide
the Administrative Agent with written notice thereof setting forth information in reasonable detail
describing the material assets of such Person and shall cause each such Subsidiary which also
qualifies as a Material Subsidiary to deliver to the Administrative Agent a joinder to the Guaranty
(in the form contemplated thereby) pursuant to which such Subsidiary agrees to be bound by the
terms and provisions thereof, such Guaranty to be accompanied by appropriate corporate resolutions,
other corporate documentation and legal opinions in form and substance reasonably satisfactory to
the Administrative Agent and its counsel.

          SECTION 5.10. Compliance with Swiss Non-Bank Rules.

     (a) The Swiss Borrower shall be compliant with the Swiss Non-Bank Rules; provided
however that the Swiss Borrower shall not be in breach of this Section 5.10 if such number
of creditors (which are not Qualifying Banks) is exceeded solely by reason of a breach by
one or more Lenders of a confirmation contained in Section 2.17(i) or a failure by one or
more Lenders to comply with their obligations and transfer restrictions in Section 9.04.

     (b) For the purposes of paragraph (a) above, the Swiss Borrower shall assume that the
aggregate number of Lenders which are not Qualifying Banks is five (5).

ARTICLE VI

Negative Covenants

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

          SECTION 6.01. Indebtedness. The Parent will not, and will not permit any Subsidiary to, create, incur, assume or permit
to exist any Indebtedness, except:

     (a) the Obligations;

     (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 and
extensions, renewals and replacements of any such Indebtedness with Indebtedness of a
similar type that does not increase the outstanding principal amount thereof;

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     (c) Indebtedness of the Parent to any Subsidiary and of any Subsidiary to the Parent or
any other Subsidiary; provided that Indebtedness of any Subsidiary that is not a
Loan Party to any Loan Party shall be subject to the limitations set forth in Section
6.04(d);

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

     (e) Indebtedness of the Parent or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease
Obligations and any Indebtedness assumed in connection with the acquisition of any such
assets or secured by a Lien on any such assets prior to the acquisition thereof, and
extensions, renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof; provided that (i) such Indebtedness is
incurred prior to or within ninety (90) days after such acquisition or the completion of
such construction or improvement and (ii) the aggregate principal amount of Indebtedness
permitted by this clause (e) shall not exceed $25,000,000 at any time outstanding;

     (f) Indebtedness of the Parent or any Subsidiary as an account party in respect of
trade letters of credit;

     (g) Indebtedness of the Parent or any Subsidiary secured by a Lien on any asset of the
Parent or any Subsidiary; provided that the aggregate outstanding principal amount
of Indebtedness permitted by this clause (g) shall not in the aggregate exceed $50,000,000
at any time; and

     (h) unsecured Indebtedness in an aggregate principal amount not exceeding $250,000,000
at any time outstanding.

          SECTION 6.02. Liens. The Parent will not, and will not permit any Subsidiary to, create, incur, assume or permit
to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell
any income or revenues (including accounts receivable) or rights in respect of any thereof, except:

     (a) any Lien on any property or asset of the Parent or any Subsidiary existing on the
date hereof and set forth in Schedule 6.02; provided that (i) such Lien
shall not apply to any other property or asset of the Parent or any Subsidiary and (ii) such
Lien shall secure only those obligations which it secures on the date hereof and extensions,
renewals and replacements thereof that do not increase the outstanding principal amount
thereof;

     (b) any Lien existing on any property or asset prior to the acquisition thereof by the
Parent or any Subsidiary or existing on any property or asset of any Person that becomes a
Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection with
such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien
shall not apply to any other property or assets of the Parent or any Subsidiary and (iii)
such Lien shall secure only those obligations which it secures on the date of such
acquisition or the date such Person becomes a Subsidiary, as the case may be, and
extensions, renewals and replacements thereof that do not increase the outstanding principal
amount thereof;

     (c) Liens on fixed or capital assets acquired, constructed or improved by the Parent or
any Subsidiary; provided that (i) such security interests secure Indebtedness
permitted by

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clause (e) of Section 6.01, (ii) such security interests and the Indebtedness secured
thereby are incurred prior to or within ninety (90) days after such acquisition or the
completion of such construction or improvement, (iii) the Indebtedness secured thereby does
not exceed the cost of acquiring, constructing or improving such fixed or capital assets and
(iv) such security interests shall not apply to any other property or assets of the Parent
or any Subsidiary;

     (d) Permitted Encumbrances; and

     (e) Liens on assets of the Parent and its Subsidiaries not otherwise permitted above so
long as the aggregate principal amount of the Indebtedness and other obligations subject to
such Liens does not at any time exceed $50,000,000.

          SECTION 6.03. Fundamental Changes and Asset Sales. (a) The Parent will not, and will not permit any Subsidiary to, merge into or consolidate
with any other Person, or permit any other Person to merge into or consolidate with it, or sell,
transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) any of
its assets, (including pursuant to a Sale and Leaseback Transaction), or any of the Equity
Interests of any of its Subsidiaries (in each case, whether now owned or hereafter acquired), or
liquidate or dissolve, except that, if at the time thereof and immediately after giving effect
thereto no Default shall have occurred and be continuing:

     (i) any Person (other than the Company) may merge into the Parent in a
transaction in which the Parent is the surviving corporation;

     (ii) any Subsidiary (other than the Company) may merge into a Loan Party in a
transaction in which the surviving entity is such Loan Party (provided that any such
merger involving the Parent must result in the Parent as the surviving entity);

     (iii) any Subsidiary may sell, transfer, lease or otherwise dispose of its
assets to a Loan Party;

     (iv) the Parent and its Subsidiaries may (A) sell inventory in the ordinary
course of business, (B) effect sales, trade-ins or dispositions of used equipment
for value in the ordinary course of business consistent with past practice, (C)
enter into licenses of technology in the ordinary course of business, and (D) make
any other sales, transfers, leases or dispositions that, together with all other
property of the Parent and its Subsidiaries previously leased, sold or disposed of
as permitted by this clause (D) during any fiscal year of the Parent, does not
exceed $50,000,000;

     (v) any Subsidiary that is not a Loan Party may liquidate or dissolve if the
Parent determines in good faith that such liquidation or dissolution is in the best
interests of the Parent and is not materially disadvantageous to the Lenders; and

     (vi) the Parent and its Subsidiaries may consummate the Permitted Corporate
Reorganization.

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

     (c) The Parent will not, nor will it permit any of its Subsidiaries to, change its
fiscal year from the basis in effect on the Effective Date.

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          SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The Parent will not, and will not
permit any of its Subsidiaries to, purchase, hold or
acquire (including pursuant to any merger or consolidation with any Person that was not a wholly
owned Subsidiary prior to such merger or consolidation) any capital stock, evidences of
indebtedness or other securities (including any option, warrant or other right to acquire any of
the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of,
or make or permit to exist any investment or any other interest in, any other Person, or purchase
or otherwise acquire (in one transaction or a series of transactions) any Person or any assets of
any other Person constituting a business unit, except:

     (a) Permitted Investments;

     (b) Permitted Acquisitions;

     (c) investments by the Parent and its Subsidiaries existing on the date hereof in the
capital stock of its Subsidiaries;

     (d) investments, loans or advances made by the Parent in or to any Subsidiary and made
by any Subsidiary in or to the Parent or any other Subsidiary (provided that not more than
an aggregate amount of $150,000,000 in investments, loans or advances or capital
contributions may be made and remain outstanding, at any time, by Loan Parties to
Subsidiaries which are not Loan Parties);

     (e) Guarantees constituting Indebtedness permitted by Section 6.01;

     (f) the Permitted Corporate Reorganization;

     (g) investments in joint ventures or other minority interests in a business or line of
business permitted with respect to the Loan Parties and the Subsidiaries under this
Agreement; provided that the aggregate outstanding amount of all such investments in
joint ventures and minority interests pursuant to this clause (g) does not exceed
$100,000,000 in the aggregate;

     (h) any Section 403-Declaration in relation to a Loan Party or any residual liability
under such declaration arising pursuant to section 2:404(2) of the Dutch Civil Code;

     (i) any joint and several liability arising as a result of (the establishment) of a
fiscal unity (fiscale eenheid) between the Loan Parties incorporated in the Netherlands or
its equivalent in any other relevant jurisdiction; and

     (j) any other investment, loan or advance (other than acquisitions) so long as the
aggregate amount of all such investments, loans and advances does not exceed $50,000,000
during the term of this Agreement.

          SECTION 6.05. Swap Agreements. The Parent will not, and will not permit any of its Subsidiaries to, enter into any Swap
Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Parent
or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the
Parent or any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively
cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to
another floating rate or otherwise) with respect to any interest-bearing liability or investment of
the Parent or any Subsidiary.

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          SECTION 6.06. Transactions with Affiliates. The Parent will not, and will not permit any of its Subsidiaries to, sell, lease or
otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property
or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except
(a) in the ordinary course of business at prices and on terms and conditions not less favorable to
the Parent or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third
parties, (b) transactions between or among the Parent and its wholly owned Subsidiaries not
involving any other Affiliate and (c) any Restricted Payment permitted by Section 6.07.

          SECTION 6.07. Restricted Payments. The Parent will not, and will not permit any of its Subsidiaries to, declare or make, or
agree to pay or make, directly or indirectly, any Restricted Payment, except (a) the Parent may
declare and pay dividends with respect to its Equity Interests payable solely in additional shares
of its common stock, (b) Subsidiaries may declare and pay dividends ratably with respect to their
Equity Interests, (c) the Parent may make Restricted Payments pursuant to and in accordance with
stock option plans or other benefit plans for management or employees of the Parent and its
Subsidiaries, (d) the Parent and its Subsidiaries may make Restricted Payments in an aggregate
amount not to exceed $25,000,000 during any fiscal year of the Parent and (e) the Parent and its
Subsidiaries may make any other Restricted Payment so long as no Default or Event of Default has
occurred and is continuing prior to making such Restricted Payment or would arise after giving
effect (including giving effect on a Pro Forma Basis) thereto and the aggregate amount of all such
Restricted Payments during the term of this Agreement does not exceed $400,000,000,
provided, that, notwithstanding the foregoing, the aggregate amount of all such Restricted
Payments made pursuant to clause (e) shall not exceed $50,000,000 for any fiscal year of the Parent
if the Total Leverage Ratio is equal to or greater than 2.25 to 1.00 after giving effect (including
giving effect on a Pro Forma Basis) to any such Restricted Payment.

          SECTION 6.08. Restrictive Agreements. The Parent will not, and will not permit any of its Subsidiaries to, directly or
indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits,
restricts or imposes any condition upon (a) the ability of the Parent or any Subsidiary to create,
incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any
Subsidiary to pay dividends or other distributions with respect to holders of its Equity Interests
or to make or repay loans or advances to the Parent or any other Subsidiary or to Guarantee
Indebtedness of the Parent or any other Subsidiary; provided that (i) the foregoing shall
not apply to restrictions and conditions imposed by law or by any Loan Document, (ii) the foregoing
shall not apply to customary restrictions and conditions contained in agreements relating to the
sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Subsidiary that is to be sold and such sale is permitted hereunder, (iii) clause (a) of the
foregoing shall not apply to restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Indebtedness and (iv) clause (a) of the foregoing shall not
apply to customary provisions in leases and other contracts restricting the assignment thereof.

          SECTION 6.09. Subordinated Indebtedness and Amendments to Subordinated Indebtedness
Documents. The Parent will not, and will not permit any Subsidiary to, directly or indirectly
voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire,
any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the
Subordinated Indebtedness Documents. Furthermore, the Parent will not, and will not permit any
Subsidiary to, amend the Subordinated Indebtedness Documents or any document, agreement or
instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents
(or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such
Indebtedness is issued where such amendment, modification or supplement provides for the following
or which has any of the following effects:

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     (a) increases the overall principal amount of any such Indebtedness or increases the
amount of any single scheduled installment of principal or interest;

     (b) shortens or accelerates the date upon which any installment of principal or
interest becomes due or adds any additional mandatory redemption provisions;

     (c) shortens the final maturity date of such Indebtedness or otherwise accelerates the
amortization schedule with respect to such Indebtedness;

     (d) increases the rate of interest accruing on such Indebtedness;

     (e) provides for the payment of additional fees or increases existing fees;

     (f) amends or modifies any financial or negative covenant (or covenant which prohibits
or restricts the Parent or any Subsidiary from taking certain actions) in a manner which is
more onerous or more restrictive in any material respect to the Parent or such Subsidiary or
which is otherwise materially adverse to the Parent, any Subsidiary and/or the Lenders or,
in the case of any such covenant, which places material additional restrictions on the
Parent or such Subsidiary or which requires the Parent or such Subsidiary to comply with
more restrictive financial ratios or which requires the Parent to better its financial
performance, in each case from that set forth in the existing applicable covenants in the
Subordinated Indebtedness Documents or the applicable covenants in this Agreement; or

     (g) amends, modifies or adds any affirmative covenant in a manner which (i) when taken
as a whole, is materially adverse to the Parent, any Subsidiary and/or the Lenders or (ii)
is more onerous than the existing applicable covenant in the Subordinated Indebtedness
Documents or the applicable covenant in this Agreement.

          SECTION 6.10. Sale and Leaseback Transactions. The Parent shall not, nor shall it permit any Subsidiary to, enter into any Sale and
Leaseback Transaction, other than Sale and Leaseback Transactions in respect of which the net cash
proceeds received in connection therewith does not exceed $75,000,000 in the aggregate during any
fiscal year of the Parent, determined on a consolidated basis for the Parent and its Subsidiaries.

          SECTION 6.11. Capital Expenditures.

     (a) The Company will not, nor will it permit any Subsidiary to, expend, or be committed
to expend, in excess of the amount set forth below (in the aggregate) for Consolidated
Capital Expenditures during any fiscal year of the Company set forth below opposite such
amount:

	 	 	 
	Maximum Capital Expenditure	 	Fiscal Year Ending
	$120,000,000
	 	June 30, 2012
	$170,000,000
	 	June 30, 2013
	$140,000,000
	 	June 30, 2014
	$140,000,000
	 	June 30, 2015
	$140,000,000
	 	June 30, 2016

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     (b) The amount of any Consolidated Capital Expenditures permitted to be made in respect
of any fiscal year shall be increased by the unused amount of Consolidated Capital
Expenditures that were permitted to be made during the immediately preceding fiscal year
pursuant to Section 6.11(a), without giving effect to any carryover amount. Consolidated
Capital Expenditures in any fiscal year shall be deemed to use first, the amount for such
fiscal year set forth in Section 6.11(a) and, second, any amount carried forward to such
fiscal year pursuant to this Section 6.11(b).

          SECTION 6.12. Financial Covenants.

     (a) Maximum Leverage Ratio. The Parent will not permit the ratio (the
“Leverage Ratio”), determined as of the end of each of its fiscal quarters ending on
and after September 30, 2011, of (i) Consolidated Total Indebtedness to (ii) Consolidated
EBITDA for the period of four (4) consecutive fiscal quarters ending with the end of such
fiscal quarter, all calculated for the Parent and its Subsidiaries on a consolidated basis,
to be greater than 3.50 to 1.00.

     (b) Maximum Senior Leverage Ratio. The Parent will not permit the ratio (the
“Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters
ending on and after September 30, 2011, of (i) Consolidated Senior Indebtedness to (ii)
Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending with the
end of such fiscal quarter, all calculated for the Parent and its Subsidiaries on a
consolidated basis, to be greater than 2.75 to 1.00.

     (c) Minimum Interest Coverage Ratio. The Parent will not permit the ratio (the
“Interest Coverage Ratio”), determined as of the end of each of its fiscal quarters
ending on and after September 30, 2011, of (i) Consolidated EBITDA to (ii) Consolidated
Interest Expense, in each case for the period of four (4) consecutive fiscal quarters ending
with the end of such fiscal quarter, all calculated for the Parent and its Subsidiaries on a
consolidated basis, to be less than 3.00 to 1.00.

ARTICLE VII

Events of Default

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

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

     (b) any Borrower shall fail to pay any interest on any Loan or any fee or any other
amount (other than an amount referred to in clause (a) of this Article) payable under this
Agreement or any other Loan Document, when and as the same shall become due and payable, and
such failure shall continue unremedied for a period of three (3) Business Days;

     (c) any representation or warranty made or deemed made by or on behalf of the Parent,
any Borrower or any Subsidiary, as applicable, in or in connection with this Agreement or
any other Loan Document or any amendment or modification hereof or thereof or waiver

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hereunder or thereunder, or in any report, certificate, financial statement or other
document furnished pursuant to or in connection with this Agreement or any other Loan
Document or any amendment or modification thereof or waiver thereunder, shall prove to have
been incorrect when made or deemed made;

     (d) the Parent or any Borrower, as applicable, shall fail to observe or perform any
covenant, condition or agreement contained in Section 5.02, 5.03 (with respect to Parent or
any Borrower’s existence), 5.08, 5.09 or 5.10, in Article VI or in Article X;

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

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

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

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

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

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

     (k) one or more judgments for the payment of money in an aggregate amount in excess of
$25,000,000 shall be rendered against the Parent, any Subsidiary or any combination

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thereof and the same shall remain undischarged for a period of thirty (30) consecutive
days during which execution shall not be effectively stayed, or any action shall be legally
taken by a judgment creditor to attach or levy upon any assets of the Parent or any
Subsidiary to enforce any such judgment;

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

     (m) a Change in Control shall occur;

     (n) the occurrence of any “default”, as defined in any Loan Document (other than this
Agreement) or the breach of any of the terms or provisions of any Loan Document (other than
this Agreement), which default or breach continues beyond any period of grace therein
provided;

     (o) any material provision of any Loan Document for any reason ceases to be valid,
binding and enforceable in accordance with its terms (or the Parent or any Subsidiary shall
challenge the enforceability of any Loan Document or shall assert in writing, or engage in
any action or inaction based on any such assertion, that any provision of any of the Loan
Documents has ceased to be or otherwise is not valid, binding and enforceable in accordance
with its terms); or

then, and in every such event (other than an event with respect to the Parent or any Borrower
described in clause (h) or (i) of this Article), and at any time thereafter during the continuance
of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by
notice to the Company, take either or both of the following actions, at the same or different
times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately,
and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which
case any principal not so declared to be due and payable may thereafter be declared to be due and
payable), and thereupon the principal of the Loans so declared to be due and payable, together with
accrued interest thereon and all fees and other Obligations of the Borrowers accrued hereunder and
under the other Loan Documents, shall become due and payable immediately, without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; and
in case of any event with respect to the Parent or any Borrower described in clause (h) or (i) of
this Article, the Commitments shall automatically terminate and the principal of the Loans then
outstanding, together with accrued interest thereon and all fees and other Obligations accrued
hereunder and under the other Loan Documents, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrowers. Upon the occurrence and during the continuance of an Event of Default, the
Administrative Agent may, and at the request of the Required Lenders shall, exercise any rights and
remedies provided to the Administrative Agent under the Loan Documents or at law or equity.

ARTICLE VIII

The Administrative Agent

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

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

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is
required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall
not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to the Parent or any of its Subsidiaries that is communicated to or obtained by the bank
serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under
the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or
willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default
unless and until written notice thereof is given to the Administrative Agent by the Company or a
Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or
inquire into (i) any statement, warranty or representation made in or in connection with any Loan
Document, (ii) the contents of any certificate, report or other document delivered hereunder or in
connection with any Loan Document, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document or (v) the satisfaction of any condition set forth in Article IV or
elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent.

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

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

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Company. Upon any such resignation, the Required Lenders shall have the
right, in

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consultation with the Company, to appoint a successor. If no successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor
Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of
any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a
successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent
shall be discharged from its duties and obligations hereunder. The fees payable by any Borrower to
a successor Administrative Agent shall be the same as those payable to its predecessor unless
otherwise agreed between such Borrower and such successor. After the Administrative Agent’s
resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for
the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while it was acting
as Administrative Agent.

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

          None of the Lenders, if any, identified in this Agreement as a Syndication Agent Documentation
Agent shall have any right, power, obligation, liability, responsibility or duty under this
Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none
of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. Each
Lender hereby makes the same acknowledgments with respect to the relevant Lenders in their
respective capacities as Syndication Agent or Documentation Agent, as applicable, as it makes with
respect to the Administrative Agent in the preceding paragraph.

          The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the Administrative Agent)
authorized to act for, any other Lender. The Administrative Agent shall have the exclusive right
on behalf of the Lenders to enforce the payment of the principal of and interest on any Loan after
the date such principal or interest has become due and payable pursuant to the terms of this
Agreement.

ARTICLE IX

Miscellaneous

          SECTION 9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given
by telephone (and subject to paragraph (b) below), all notices and other communications provided
for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed
by certified or registered mail or sent by telecopy, as follows:

     (i) if to any Borrower or the Parent, to it c/o Vistaprint USA, Incorporated,
95 Hayden Avenue, Lexington, MA 02421 USA, Attention of Jonathan Chevalier, Treasury
Manager (Telecopy No. (781) 652-6098; Telephone No. (781) 652-6771), with a copy to,
in the case of a notice of Default, General Counsel (Telecopy No. (781) 652-6092;
Telephone No. (781) 652-6541);

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     (ii) if to the Administrative Agent, (A) in the case of Borrowings denominated
in Dollars, to JPMorgan Chase Bank, N.A., 10 South Dearborn, Floor 7, Chicago,
Illinois 60603, Attention of Brian Larson (Telecopy No. (888) 303-9732) and (B) in
the case of Borrowings denominated in Foreign Currencies, to J.P. Morgan Europe
Limited, 125 London Wall, London EC2Y 5AJ, Attention of Manager Loan Agency
(Telecopy No. 44 207 777 2360), and in each case with a copy to JPMorgan Chase Bank,
N.A., 12 Corporate Woods Boulevard, Albany, New York 12211, Attention of Scott
McNamara (Telecopy No. (518) 433-0295);

     (iii) if to the Issuing Bank, to it at JPMorgan Chase Bank, N.A., 10 South
Dearborn, Floor 7, Chicago, Illinois 60603, Attention of Brian Larson (Telecopy No.
(888) 303-9732);

     (iv) if to the Swingline Lender, to it at JPMorgan Chase Bank, N.A., 10 South
Dearborn, Floor 7, Chicago, Illinois 60603, Attention of Brian Larson (Telecopy No.
(888) 303-9732); and

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

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

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

          SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder or under any other Loan Document shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative
Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative
and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any
provision of this Agreement or consent to any departure by any Borrower therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of this Section, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for
which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of
a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the
Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such
Default at the time.

     (b) Except as provided in Section 2.20 with respect to an Incremental Term Loan
Amendment, neither this Agreement nor any provision hereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into by the
Borrowers

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and the Required Lenders or by the Borrowers and the Administrative Agent with the
consent of the Required Lenders; provided that no such agreement shall (i) increase
the Commitment of any Lender without the written consent of such Lender, (ii) reduce the
principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or
reduce any fees payable hereunder, without the written consent of each Lender directly
affected thereby, (iii) postpone the scheduled date of payment of the principal amount of
any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or
reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of
expiration of any Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.18(b) or (d) in a manner that would alter the pro rata
sharing of payments required thereby, without the written consent of each Lender, (v) change
any of the provisions of this Section or the definition of “Required Lenders” or any other
provision hereof specifying the number or percentage of Lenders required to waive, amend or
modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender (it being understood that, solely with the
consent of the parties prescribed by Section 2.20 to be parties to an Incremental Term Loan
Amendment, Incremental Term Loans may be included in the determination of Required Lenders
on substantially the same basis as the Commitments and the Revolving Loans are included on
the Effective Date) or (vi) release the Parent or all or substantially all of the Subsidiary
Guarantors from their obligations under Article X or the Guaranty without the written
consent of each Lender; provided further that no such agreement shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing
Bank or the Swingline Lender hereunder without the prior written consent of the
Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be.

     (c) Notwithstanding the foregoing, this Agreement and any other Loan Document may be
amended (or amended and restated) with the written consent of the Required Lenders, the
Administrative Agent and the Borrowers to each relevant Loan Document (x) to add one or more
credit facilities (in addition to the Incremental Term Loans pursuant to an Incremental Term
Loan Amendment) to this Agreement and to permit extensions of credit from time to time
outstanding thereunder and the accrued interest and fees in respect thereof to share ratably
in the benefits of this Agreement and the other Loan Documents with the Revolving Loans,
Incremental Term Loans and the accrued interest and fees in respect thereof and (y) to
include appropriately the Lenders holding such credit facilities in any determination of the
Required Lenders and Lenders.

     (d) If, in connection with any proposed amendment, waiver or consent requiring the
consent of “each Lender” or “each Lender directly affected thereby,” the consent of the
Required Lenders is obtained, but the consent of other necessary Lenders is not obtained
(any such Lender whose consent is necessary but not obtained being referred to herein as a
“Non-Consenting Lender”), then the Company may elect to replace a Non-Consenting
Lender as a Lender party to this Agreement, provided that, concurrently with such
replacement, (i) another bank or other entity which is reasonably satisfactory to the
Company and the Administrative Agent shall agree, as of such date, to purchase for cash the
Loans and other Obligations due to the Non-Consenting Lender pursuant to an Assignment and
Assumption and to become a Lender for all purposes under this Agreement and to assume all
obligations of the Non-Consenting Lender to be terminated as of such date and to comply with
the requirements of clause (b) of Section 9.04, and (ii) each Borrower shall pay to such
Non-Consenting Lender in same day funds on the day of such replacement (1) all interest,
fees and other amounts then accrued but unpaid to such Non-Consenting Lender by such
Borrower hereunder to and including the date of termination, including without limitation
payments due to such Non-Consenting Lender under Sections 2.15 and 2.17, and (2) an amount,
if any, equal to the payment which would have been due to such

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Lender on the day of such replacement under Section 2.16 had the Loans of such
Non-Consenting Lender been prepaid on such date rather than sold to the replacement Lender.

     (e) Notwithstanding anything to the contrary herein the Administrative Agent may, with
the consent of the Borrowers only, amend, modify or supplement this Agreement or any of the
other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency.

          SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Company shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates, including the reasonable documented out-of-pocket fees,
charges and disbursements of one primary counsel and one local counsel in each applicable foreign
jurisdiction for the Administrative Agent, in connection with the syndication and distribution
(including, without limitation, via the internet or through a service such as Intralinks) of the
credit facilities provided for herein, the preparation and administration of this Agreement and the
other Loan Documents or any amendments, modifications or waivers of the provisions hereof or
thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)
all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance,
amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank
or any Lender, including the reasonable documented out-of-pocket fees, charges and disbursements of
any counsel for the Administrative Agent, the Issuing Bank or any Lender, in connection with the
enforcement or protection of its rights in connection with this Agreement and any other Loan
Document, including its rights under this Section, or in connection with the Loans made or Letters
of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.

     (b) The Company shall indemnify the Administrative Agent, the Issuing Bank and each
Lender, and each Related Party of any of the foregoing Persons (each such Person being
called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the execution or
delivery of any Loan Document or any agreement or instrument contemplated thereby, the
performance by the parties hereto of their respective obligations thereunder or the
consummation of the Transactions or any other transactions contemplated hereby, (ii) any
Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by the
Issuing Bank to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such
Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Parent or any of its Subsidiaries, or any
Environmental Liability related in any way to the Parent or any of its Subsidiaries, or (iv)
any actual or prospective claim, litigation, investigation or proceeding relating to any of
the foregoing, whether based on contract, tort or any other theory, whether brought by a
third party or by the Parent or any of its Subsidiaries, and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or
related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of
such Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes other than any
Taxes that represent losses or damages arising from any non-Tax claim.

     (c) To the extent that the Company fails to pay any amount required to be paid by it to
the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or

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(b) of this Section, each Lender severally agrees to pay to the Administrative Agent, the
Issuing Bank or the Swingline Lender, as the case may be, such Lender’s Applicable
Percentage (determined as of the time that the applicable unreimbursed expense or indemnity
payment is sought) of such unpaid amount (it being understood that the Company’s failure to
pay any such amount shall not relieve the Company of any default in the payment thereof);
provided that the unreimbursed expense or indemnified loss, claim, damage, liability
or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such.

     (d) To the extent permitted by applicable law, neither the Parent nor any Borrower
shall assert, and the Parent and each Borrower hereby waive, any claim against any
Indemnitee (i) for any damages arising from the use by others of information or other
materials obtained through telecommunications, electronic or other information transmission
systems (including the Internet), or (ii) on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of,
in connection with, or as a result of, this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or Letter
of Credit or the use of the proceeds thereof.

     (e) All amounts due under this Section shall be payable not later than thirty (30) days
after written demand therefor.

          SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any
Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) neither the Parent
nor any Borrower may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment or transfer by the
Parent or any Borrower without such consent shall be null and void) and (ii) no Lender may assign
or otherwise transfer its rights or obligations hereunder except in accordance with this Section.
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns permitted hereby (including
any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to the extent
provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the
Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

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

     (A) the Company (provided that the Company shall be deemed to have
consented to any such assignment unless it shall object thereto by written
notice to the Administrative Agent within ten (10) Business Days after
having received notice thereof); provided, further, that no
consent of the Company shall be required for an assignment to a Lender, an
Affiliate of a Lender, an Approved Fund or, if an Event of Default has
occurred and is continuing, any other assignee;

     (B) the Administrative Agent; and

     (C) the Issuing Bank.

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

     (A) except in the case of an assignment to a Lender or an Affiliate of
a Lender or an Approved Fund or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans of any Class, the amount of
the Commitment or Loans of the assigning Lender subject to each such
assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent) shall
not be less than $5,000,000 unless each of the Company and the
Administrative Agent otherwise consent, provided that no such
consent of the Company shall be required if an Event of Default has occurred
and is continuing;

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

     (C) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee of $3,500, such fee to be paid by either the
assigning Lender or the assignee Lender or shared between such Lenders; and

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

     (E) other than assignments to an existing Lender, assignments to
Lenders that will acquire a position of the Obligations of a Dutch
Subsidiary Borrower shall be at least €50,000 (or its equivalent in another
currency) or any other amount that will from time to time be applicable
under section 3(2) under a and/or b of the Dutch Decree on Definitions Wft
(Besluit definitiebepalingen Wft), or, if it is less, such new Lender (as
the case may be) shall confirm in writing to that Dutch Subsidiary Borrower
that it is a professional market party within the meaning of the FSA;

     (F) the prior written consent of each Swiss Borrower, if the assignee
is not a Qualifying Bank (such consent not to be unreasonably withheld or
delayed); provided, however, that the Swiss Borrowers do not
need to consent to an assignment that would be in violation of the Swiss
Non-Bank Rules; and

     (G) no assignment shall be made (x) to the Parent or any of the
Parent’s Affiliates or Subsidiaries or (y) to a natural person.

     For the purposes of this Section 9.04(b), the term “Approved Fund” has the following
meaning:

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

     (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv)
of this Section, from and after the effective date specified in each Assignment and
Assumption the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations
of a Lender under this Agreement, and the assigning Lender thereunder shall, to the
extent of the interest assigned by such Assignment and Assumption, be released from
its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not
comply with this Section 9.04 shall be treated for purposes of this Agreement as a
sale by such Lender of a participation in such rights and obligations in accordance
with paragraph (c) of this Section.

     (iv) The Administrative Agent, acting for this purpose as an agent of each
Borrower, shall maintain at one of its offices a copy of each Assignment and
Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Commitment of, and principal amount of the Loans
and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”). The entries in the Register shall be conclusive
absent manifest error, and the Borrowers, the Administrative Agent, the Issuing Bank
and the Lenders shall treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available
for inspection by the Company, the Issuing Bank and any Lender, at any reasonable
time and from time to time upon reasonable prior notice. Notwithstanding anything
to the contrary contained in this Agreement, the Loans are registered obligations,
the right, title and interest of the Lenders and its assignees in and to such Loans
shall be transferable only upon notation of such transfer in the Register and no
assignment thereof shall be effective until recorded therein. This Section shall be
construed so that the Loans are at all times maintained in “registered form” within
the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related
regulations (and any successor provisions).

     (v) Upon its receipt of a duly completed Assignment and Assumption executed by
an assigning Lender and an assignee, the assignee’s completed Administrative
Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) of this Section and any
written consent to such assignment required by paragraph (b) of this Section, the
Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register; provided that if either the
assigning Lender or the assignee shall have failed to make any payment required to
be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(e) or
9.03(c), the Administrative Agent shall have no obligation to accept such Assignment
and Assumption and record the information therein in the Register unless and until
such payment shall have been made in full, together with all accrued interest
thereon. No assignment shall be effective for

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purposes of this Agreement unless it has been recorded in the Register as
provided in this paragraph.

     (c) Any Lender may, without the consent of the Parent or any Borrower, the
Administrative Agent, the Issuing Bank or the Swingline Lender, sell participations to one
or more banks or other entities (a “Participant”) in all or a portion of such
Lender’s rights and obligations under this Agreement (including all or a portion of its
Commitment and the Loans owing to it); provided that (A) such Lender’s obligations
under this Agreement shall remain unchanged; (B) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations; (C) the Parent, the
Borrowers, the Administrative Agent, the Issuing Bank and the other Lenders shall continue
to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement; and (D) each Participant shall be a Qualifying Bank or, if
not, the prior written consent of each Swiss Borrower has been obtained (such consent not to
be unreasonably withheld or delayed; provided that no Swiss Borrower shall consent to a
participation that would be in violation of the Swiss Non-Bank Rules). Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, modification or waiver described in the first proviso to Section
9.02(b) that affects such Participant. The Parent and each Borrower agrees that each
Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to
the requirements and limitations therein, including the requirements under Section 2.17(f)
(it being understood that the documentation required under Section 2.17(f) shall be
delivered to the participating Lender)) to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that
such Participant (A) agrees to be subject to the provisions of Sections 2.18 and 2.19 as if
it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to
receive any greater payment under Sections 2.15 or 2.17, with respect to any participation,
than its participating Lender would have been entitled to receive, except to the extent such
entitlement to receive a greater payment results from a Change in Law that occurs after the
Participant acquired the applicable participation. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 9.08 as though it were a
Lender, provided such Participant agrees to be subject to Section 2.18(d) as though it were
a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a
non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and
address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under this Agreement (the
“Participant Register”); provided that no Lender shall have any obligation
to disclose all or any portion of the Participant Register to any Person (including the
identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans, Letters of Credit or its other obligations under this Agreement) except
to the extent that such disclosure is necessary to establish that such Commitment, Loan,
Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the
United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of
this Agreement notwithstanding any notice to the contrary.

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

73

 

such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto.

          SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the
Loan Documents and in the certificates or other instruments delivered in connection with or
pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon
by the other parties hereto and shall survive the execution and delivery of the Loan Documents and
the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made
by any such other party or on its behalf and notwithstanding that the Administrative Agent, the
Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and shall continue in full
force and effect as long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement or any other Loan Document is outstanding and unpaid or
any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated.
The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in
full force and effect regardless of the consummation of the transactions contemplated hereby, the
repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments
or the termination of this Agreement or any other Loan Document or any provision hereof or thereof.

          SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Agreement, the other Loan Documents and any
separate letter agreements with respect to fees payable to the Administrative Agent constitute the
entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof.
Except as provided in Section 4.01, this Agreement shall become effective when it shall have been
executed by the Administrative Agent and when the Administrative Agent shall have received
counterparts hereof which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. Delivery of an executed counterpart of a signature page
of this Agreement by facsimile or other electronic imaging shall be effective as delivery of a
manually executed counterpart of this Agreement.

          SECTION 9.07. Severability. Any provision of any Loan Document held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity,
illegality or unenforceability without affecting the validity, legality and enforceability of the
remaining provisions thereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted
by law, to set off and apply any and all deposits (general or special, time or demand, provisional
or final and in whatever currency denominated) at any time held and other obligations at any time
owing by such Lender or Affiliate to or for the credit or the account of the Parent, any Borrower
or any Subsidiary Guarantor against any of and all of the Obligations held by such Lender,
irrespective of whether or not such Lender shall have made any demand under the Loan Documents and
although such obligations may be unmatured. The rights of each Lender under this Section are in
addition to other rights and remedies (including other rights of setoff) which such Lender may
have.

          SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the
State of New York.

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

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

     (d) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 9.01. Nothing in this Agreement or any other Loan
Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

     (e) The Parent and each Borrower hereby irrevocably designates, appoints and empowers
the Service of Process Agent, with offices on the date hereof at 111 Eighth Avenue, New
York, New York 10011, as its designee, appointee and agent to receive, accept and
acknowledge for and on its behalf, and in respect of its property, service of any and all
legal process, summons, notices and documents which may be served in any such action or
proceeding. If for any reason such designee, appointee and agent shall cease to be
available to act as such, The Parent and each Borrower agree to designate a new designee,
appointee and agent in New York City on the terms and for the purposes of this provision
reasonably satisfactory to the Administrative Agent under this Agreement. Each Obligor
irrevocably waives, to the fullest extent permitted by law, all claim of error by reason of
any such service in such manner and agrees that such service shall be deemed in every
respect effective service of process upon such Obligor in any such suit, action or
proceeding and shall, to the fullest extent permitted by law, be taken and held to be valid
and personal service upon and personal delivery to such Obligor. To the extent any Obligor
has or hereafter may acquire any immunity from jurisdiction of any court or from any legal
process (whether from service or notice, attachment prior to judgment, attachment in aid of
execution of a judgment, execution or otherwise), each Obligor hereby irrevocably waives
such immunity in respect of its obligations under the Loan Documents.

          SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF
OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY (WHETHER BASED ON

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CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

          SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of
reference only, are not part of this Agreement and shall not affect the construction of, or be
taken into consideration in interpreting, this Agreement.

          SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a)
to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal
counsel and other advisors (it being understood that the Persons to whom such disclosure is made
will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (b) to the extent requested by any regulatory authority (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party to this Agreement, (e) in connection with the exercise of any remedies under
this Agreement or any other Loan Document or any suit, action or proceeding relating to this
Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f)
subject to an agreement containing provisions substantially the same as those of this Section, to
(i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its
rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its
advisors) to any swap or derivative transaction relating to any Borrower and its obligations, (g)
with the consent of the Company or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section or (ii) becomes available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis from a source other
than the Company. For the purposes of this Section, “Information” means all information
received from the Parent relating to the Parent or its business, other than any such information
that is available to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential
basis prior to disclosure by the Parent; provided that, in the case of information received
from the Parent after the date hereof, such information is clearly identified at the time of
delivery as confidential. Any Person required to maintain the confidentiality of Information as
provided in this Section shall be considered to have complied with its obligation to do so if such
Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information.

          SECTION 9.13. USA PATRIOT Act. Each Lender that is subject to the requirements of the USA PATRIOT Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies each Loan Party
that pursuant to the requirements of the Act, it is required to obtain, verify and record
information that identifies such Loan Party, which information includes the name and address of
such Loan Party and other information that will allow such Lender to identify such Loan Party in
accordance with the Act.

          SECTION 9.14. Releases of Guarantors.

     (a) A Subsidiary Guarantor shall automatically be released from its obligations under
the Guaranty upon the consummation of any transaction permitted by this Agreement as a
result of which such Subsidiary Guarantor ceases to be a Subsidiary; provided that,
if so required by this Agreement, the Required Lenders shall have consented to such
transaction and the terms of

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such consent shall not have provided otherwise. In connection with any termination or
release pursuant to this Section, the Administrative Agent shall (and is hereby irrevocably
authorized by each Lender to) execute and deliver to any Loan Party, at such Loan Party’s
expense, all documents that such Loan Party shall reasonably request to evidence such
termination or release. Any execution and delivery of documents pursuant to this Section
shall be without recourse to or warranty by the Administrative Agent.

     (b) Further, the Administrative Agent may (and is hereby irrevocably authorized by each
Lender to), upon the request of the Company, release any Subsidiary Guarantor from its
obligations under the Guaranty if such Subsidiary Guarantor is no longer a Material
Subsidiary.

     (c) At such time as the principal and interest on the Loans, all LC Disbursements, the
fees, expenses and other amounts payable under the Loan Documents and the other Obligations
(other than obligations under any Swap Agreement or any Banking Services Agreement, and
other Obligations expressly stated to survive such payment and termination) shall have been
paid in full, the Commitments shall have been terminated and no Letters of Credit shall be
outstanding, the Guaranty and all obligations (other than those expressly stated to survive
such termination) of each Guarantor thereunder shall automatically terminate, all without
delivery of any instrument or performance of any act by any Person.

          SECTION 9.15. Attorney Representation. If the Parent or a Dutch Subsidiary Borrower is represented by an attorney in connection
with the signing and/or execution of the Agreement and/or any other Loan Document it is hereby
expressly acknowledged and accepted by the parties to the Agreement and/or any other Loan Document
that the existence and extent of the attorney’s authority and the effects of the attorney’s
exercise or purported exercise of his or her authority shall be governed by the laws of the
Netherlands.

          SECTION 9.16. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan, together with all fees, charges and other amounts which are treated as
interest on such Loan under applicable law (collectively the “Charges”), shall exceed the
maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken,
received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of
interest payable in respect of such Loan hereunder, together with all Charges payable in respect
thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges
that would have been payable in respect of such Loan but were not payable as a result of the
operation of this Section shall be cumulated and the interest and Charges payable to such Lender in
respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor)
until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to
the date of repayment, shall have been received by such Lender.

          SECTION 9.17. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document),
the Parent and each Borrower acknowledges and agrees that: (i) (A) the arranging and other services
regarding this Agreement provided by the Lenders are arm’s-length commercial transactions between
the Parent and such Borrower and its Affiliates, on the one hand, and the Lenders, on the other
hand, (B) the Parent and such Borrower has consulted its own legal, accounting, regulatory and tax
advisors to the extent it has deemed appropriate, and (C) the Parent and such Borrower is capable
of evaluating, and understands and accepts, the terms, risks and conditions of the transactions
contemplated hereby and by the other Loan Documents; (ii) (A) each of the Lenders is and has been
acting solely as a principal and, except as expressly agreed in writing by the relevant parties,
has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Parent or
such

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Borrower or any of its Affiliates, or any other Person and (B) no Lender has any obligation to
the Parent or such Borrower or any of its Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents; and
(iii) each of the Lenders and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Parent and such Borrower and its
Affiliates, and no Lender has any obligation to disclose any of such interests to the Parent or
such Borrower or its Affiliates. To the fullest extent permitted by law, the Parent and each
Borrower hereby waives and releases any claims that it may have against each of the Lenders with
respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect
of any transaction contemplated hereby.

ARTICLE X

Cross-Guarantee

          SECTION 10.01. Cross Guarantee.

     (a) In order to induce the Lenders to extend credit to each Borrower hereunder, each
Obligor hereby irrevocably and unconditionally guarantees, as a primary obligor and not
merely as a surety, the payment when and as due of the Obligations of such other Obligor.
Each Obligor further agrees that the due and punctual payment of such Obligations may be
extended or renewed, in whole or in part, without notice to or further assent from it, and
that it will remain bound upon its guarantee hereunder notwithstanding any such extension or
renewal of any such Obligation.

     (b) Each Obligor waives presentment to, demand of payment from and protest to any
Obligor of any of the Obligations, and also waives notice of acceptance of its obligations
and notice of protest for nonpayment. The obligations of each Obligor hereunder shall not
be affected by (a) the failure of the Administrative Agent, the Issuing Bank or any Lender
to assert any claim or demand or to enforce any right or remedy against any Obligor under
the provisions of this Agreement, any other Loan Document or otherwise; (b) any extension or
renewal of any of the Obligations; (c) any rescission, waiver, amendment or modification of,
or release from, any of the terms or provisions of this Agreement, or any other Loan
Document or agreement; (d) any default, failure or delay, willful or otherwise, in the
performance of any of the Obligations; (e) the failure of the Administrative Agent to take
any steps to perfect and maintain any security interest in, or to preserve any rights to,
any security or collateral for the Obligations, if any; (f) any change in the corporate,
partnership or other existence, structure or ownership of any Obligor or any other guarantor
of any of the Obligations; (g) the enforceability or validity of the Obligations or any part
thereof or the genuineness, enforceability or validity of any agreement relating thereto or
with respect to any collateral securing the Obligations or any part thereof, or any other
invalidity or unenforceability relating to or against any Obligor or any other guarantor of
any of the Obligations, for any reason related to this Agreement, any Swap Agreement, any
other Loan Document, or any provision of applicable law, decree, order or regulation of any
jurisdiction purporting to prohibit the payment by such Obligor or any other guarantor of
the Obligations, of any of the Obligations or otherwise affecting any term of any of the
Obligations; or (h) any other act, omission or delay to do any other act which may or might
in any manner or to any extent vary the risk of such Obligor or otherwise operate as a
discharge of a guarantor as a matter of law or equity or which would impair or eliminate any
right of such Obligor to subrogation.

     (c) Each Obligor further agrees that its agreement hereunder constitutes a guarantee of
payment when due (whether or not any bankruptcy or similar proceeding shall have stayed the
accrual or collection of any of the Obligations or operated as a discharge thereof) and not
merely

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of collection, and waives any right to require that any resort be had by the
Administrative Agent, the Issuing Bank or any Lender to any balance of any deposit account
or credit on the books of the Administrative Agent, the Issuing Bank or any Lender in favor
of any Obligor or any other Person.

     (d) The obligations of each Obligor hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, and shall not be subject to any
defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the
invalidity, illegality or unenforceability of any of the Obligations, any impossibility in
the performance of any of the Obligations or otherwise.

     (e) Each Obligor further agrees that its obligations hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof,
of any Obligation is rescinded or must otherwise be restored by the Administrative Agent,
the Issuing Bank or any Lender upon the bankruptcy or reorganization of any Obligor or
otherwise.

     (f) In furtherance of the foregoing and not in limitation of any other right which the
Administrative Agent, the Issuing Bank or any Lender may have at law or in equity against
any Obligor by virtue hereof, upon the failure of any other Obligor to pay any Obligation
when and as the same shall become due, whether at maturity, by acceleration, after notice of
prepayment or otherwise, each Obligor hereby promises to and will, upon receipt of written
demand by the Administrative Agent, the Issuing Bank or any Lender, forthwith pay, or cause
to be paid, to the Administrative Agent, the Issuing Bank or any Lender in cash an amount
equal to the unpaid principal amount of such Obligations then due, together with accrued and
unpaid interest thereon. Each Obligor further agrees that if payment in respect of any
Obligation shall be due in a currency other than Dollars and/or at a place of payment other
than New York, Chicago or any other Eurocurrency Payment Office and if, by reason of any
Change in Law, disruption of currency or foreign exchange markets, war or civil disturbance
or other event, payment of such Obligation in such currency or at such place of payment
shall be impossible or, in the reasonable judgment of the Administrative Agent, the Issuing
Bank or any Lender, disadvantageous to the Administrative Agent, the Issuing Bank or any
Lender in any material respect, then, at the election of the Administrative Agent, such
Obligor shall make payment of such Obligation in Dollars (based upon the applicable
Equivalent Amount in effect on the date of payment) and/or in New York, Chicago or such
other Eurocurrency Payment Office as is designated by the Administrative Agent and, as a
separate and independent obligation, shall indemnify the Administrative Agent, the Issuing
Bank and any Lender against any losses or reasonable out-of-pocket expenses that it shall
sustain as a result of such alternative payment.

     (g) Upon payment by any Obligor of any sums as provided above, all rights of such
Obligor against any Obligor arising as a result thereof by way of right of subrogation or
otherwise shall in all respects be subordinated and junior in right of payment to the prior
indefeasible payment in full in cash of all the Obligations owed by such Obligor to the
Administrative Agent, the Issuing Bank and the Lenders.

     (h) Nothing shall discharge or satisfy the liability of any Obligor hereunder except
the full performance and payment in cash of the Obligations.

          SECTION 10.02. Swiss Limitation Language for Swiss Borrowers.

     (a) If and to the extent that a payment in fulfilling the joint and several liabilities
under this article of any Swiss Borrower would, at the time payment is due, under Swiss law
and

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practice (inter alia, prohibiting capital repayments or restricting profit
distributions) not be permitted, in particular if and to the extent that such Swiss Borrower
guarantees obligations other than obligations of one of its subsidiaries (i.e. obligations
of its direct or indirect parent companies (up-stream guarantee) or sister companies
(cross-stream guarantee)) (“Restricted Obligations”), then such obligations and
payment amount shall from time to time be limited to the amount of the freely disposable
equity in accordance with Swiss law; provided that such limited amount shall at no
time be less than such Swiss Borrower’s profits and reserves available for the distribution
as dividends (being the balance sheet profits and any reserves available for this purpose,
in each case in accordance with art. 675(2) and art. 671(1) and (2), no. 3, of the Swiss
Federal Code of Obligations) at the time or times payment under or pursuant to this article
is requested from such Swiss Borrower, and further provided that such limitation (as may
apply from time to time or not) shall not (generally or definitively) free such Swiss
Borrower from payment obligations hereunder in excess thereof, but merely postpone the
payment date therefor until such times as payment is again permitted notwithstanding such
limitation. Any and all indemnities and guarantees contained in the Loan Documents
including, in particular, Section 18(A)(iv) of Exhibit G (the Guaranty) shall be
construed in a manner consistent with the provisos herein contained.

     (b) In respect of Restricted Obligations, each Swiss Borrower shall:

     (i) if and to the extent required by applicable law in force at the relevant
time:

          (A) subject to any applicable double taxation treaty, deduct Swiss anticipatory
tax (Verrechnungssteuer; Swiss Withholding Tax) at the rate of 35% (or such other
rate as in force from time to time) from any payment made by it in respect of
Restricted Obligations;

          (B) pay any such deduction to the Swiss Federal Tax Administration; and

          (C) notify (or ensure that the Company notifies) the Administrative Agent that
such a deduction has been made and provide the Administrative Agent with evidence
that such a deduction has been paid to the Swiss Federal Tax Administration, all in
accordance with Section 18(A)(i) of Exhibit G (the Guaranty); and

     (ii) to the extent such a deduction is made, not be obliged to either gross-up
in accordance with Section 18(A)(i) of Exhibit G (the Guaranty) or indemnify each
Recipient in accordance with Section 18(A)(iv) of Exhibit G (the Guaranty)
in relation to any such payment made by it in respect of Restricted Obligations
unless grossing-up is permitted under the laws of Switzerland then in force.

     (c) If and to the extent requested by the Administrative Agent and if and to the extent
this is from time to time required under Swiss law (restricting profit distributions), in
order to allow the Administrative Agent to obtain a maximum benefit under the joint and
several liabilities under this article, each Swiss Borrower undertakes to promptly implement
all such measures and/or to promptly obtain the fulfillment of all prerequisites allowing it
to promptly make the requested payment(s) hereunder from time to time, including the
following:

     (i) preparation of an up-to-date audited balance sheet of such Swiss Borrower;

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     (ii) confirmation of the auditors of such Swiss Borrower that the relevant
amount represents the maximum freely distributable profits;

     (iii) approval by a shareholder’s or a quotaholders’ meeting (as applicable) of
such Swiss Borrower of the resulting profit distribution; and

     (d) all such other measures necessary or useful to allow such Swiss Borrower to make
the payments agreed hereunder with a minimum of limitations.

[Signature Pages Follow]

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

	 	 	 	 	 
	 	VISTAPRINT LIMITED,

as the Company

 	 
	 	By  	/s/ Dawn Antoine
 	 
	 	 	Name:  	Dawn Antoine 	 
	 	 	Title:  	Secretary 	 
	 
	 	VISTAPRINT N.V.,

as the Parent

 	 
	 	By  	/s/ Ernst J. Teunissen
 	 
	 	 	Name:  	Ernst J. Teunissen 	 
	 	 	Title:  	Chief Financial Officer and Managing Director 	 
	 
	 	VISTAPRINT SCHWEIZ GMBH,

as a Borrower

 	 
	 	By  	/s/ Ernst J. Teunissen
 	 
	 	 	Name:  	Ernst J. Teunissen 	 
	 	 	Title:  	Managing Director 	 
	 
	 	VISTAPRINT B.V.,

as a Borrower

 	 
	 	By  	/s/ Ernst J. Teunissen
 	 
	 	 	Name:  	Ernst J. Teunissen 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to Credit Agreement

Vistaprint Limited et al

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., individually as a 

Lender,
as the Swingline Lender, as the Issuing Bank 

and as
Administrative Agent

 	 
	 	By  	/s/ Scott McNamara
 	 
	 	 	Name:  	Scott McNamara 	 
	 	 	Title:  	Vice President 	 
	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION, 

individually as
a Lender and as Syndication Agent

 	 
	 	By  	/s/ Manuel Burgueño
 	 
	 	 	Name:  	Manuel Burgueño 	 
	 	 	Title:  	Vice President 	 
	 
	 	RBS CITIZENS, N.A., individually as a Lender and as

Documentation Agent

 	 
	 	By  	/s/ Stephen F. O’Sullivan
 	 
	 	 	Name:  	Stephen F. O’Sullivan 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	THE HUNTINGTON NATIONAL BANK, as a Lender

 	 
	 	By  	/s/ Chad A. Lowe
 	 
	 	 	Name:  	Chad A. Lowe 	 
	 	 	Title:  	Vice President 	 
	 
	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By  	/s/ Robert M. Martin
 	 
	 	 	Name:  	Robert M. Martin 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	SOVEREIGN BANK, as a Lender

 	 
	 	By  	/s/ A. Neil Sweeny
 	 
	 	 	Name:  	A. Neil Sweeny 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Credit Agreement

Vistaprint Limited et al

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA, as a Lender

 	 
	 	By  	/s/ Mark Walton
 	 
	 	 	Name:  	Mark Walton 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	[OTHER AGENTS AND LENDERS TO COME],

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Signature Page to Credit Agreement

Vistaprint Limited et al

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 
	LENDER	 	COMMITMENT
	JPMORGAN CHASE BANK, N.A.
	 	$	62,500,000	 
	HSBC BANK USA, NATIONAL ASSOCIATION
	 	$	50,000,000	 
	RBS CITIZENS, N.A.
	 	$	47,500,000	 
	THE HUNTINGTON NATIONAL BANK
	 	$	25,000,000	 
	PNC BANK, NATIONAL ASSOCIATION
	 	$	25,000,000	 
	SOVEREIGN BANK
	 	$	25,000,000	 
	GOLDMAN SACHS BANK USA
	 	$	15,000,000	 
	AGGREGATE COMMITMENT
	 	$	250,000,000	 

 

 

SCHEDULE 2.02

MANDATORY COST

	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
Administrative Agent shall calculate, as a percentage rate, a rate (the “Associated Costs
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory
Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’
Associated Costs 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 Associated Costs Rate for any Lender lending from a Facility Office in a Participating
Member State will be the percentage notified by that Lender to the Administrative Agent. This
percentage will be certified by that Lender in its notice to the Administrative 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 Associated Costs Rate for any Lender lending from a Facility Office in the United Kingdom
will be calculated by the Administrative Agent as follows:

				
	 	E x 0.01
300	 	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 Applicable Rate and the
Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest
specified in Section 2.13(c)) payable for the relevant Interest Period on the Loan.
	 
	 	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
Administrative Agent on interest bearing Special Deposits.
	 
	 	E	 	is designed to compensate Lenders for amounts payable under the Fees Rules and
is calculated by the Administrative Agent as being the average of the most recent rates
of charge supplied by the Reference Banks to the Administrative 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)	 	“Facility Office” means the office or offices notified by a Lender to the
Administrative Agent in writing on or before the date it becomes a Lender (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.
	 
	 	(c)	 	“Fees Rules” means the rules on periodic fees contained in the Financial
Services Authority Fees 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;
	 
	 	(d)	 	“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);
	 
	 	(e)	 	“Participating Member State” means any member state of the European Union that
adopts or has adopted the euro as its lawful currency in accordance with legislation of
the European Union relating to economic and monetary union.
	 
	 	(f)	 	“Reference Banks” means, in relation to Mandatory Cost, the principal London
offices of JPMorgan Chase Bank, N.A.
	 
	 	(g)	 	“Tariff Base” has the meaning given to it in, and will be calculated in
accordance with, the Fees Rules.
	 
	 	(h)	 	“Unpaid Sum” means any sum due and payable but unpaid by any Borrower under the
Loan Documents.

	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 Administrative Agent, each Reference Bank shall, as soon as practicable
after publication by the Financial Services Authority, supply to the Administrative 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 Administrative Agent for the purpose
of calculating its Associated Costs 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

2

 

	 	(b)	 	any other information that the Administrative Agent may reasonably require for
such purpose.

Each Lender shall promptly notify the Administrative 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 Administrative 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 Administrative 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 Administrative Agent shall have no liability to any person if such determination results
in an Associated Costs 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 Administrative Agent shall distribute the additional amounts received as a result of the
Mandatory Cost to the Lenders on the basis of the Associated Costs 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 Administrative Agent pursuant to this Schedule in relation to a
formula, the Mandatory Cost, an Associated Costs Rate or any amount payable to a Lender shall,
in the absence of manifest error, be conclusive and binding on all parties hereto.
	 
	13.	 	The Administrative Agent may from time to time, after consultation with the Company and the
relevant Lenders, determine and notify to all parties hereto any amendments which are required
to be made to this Schedule 2.02 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 hereto.

3

 

EXHIBIT A

ASSIGNMENT AND ASSUMPTION

          This Assignment and Assumption (the “Assignment and Assumption”) is dated as
of the Effective Date set forth below and is entered into by and between [Insert name of Assignor]
(the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms
used but not defined herein shall have the meanings given to them in the Credit Agreement
identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached
hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment
and Assumption as if set forth herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii)
above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
and Assumption, without representation or warranty by the Assignor.

	 	 	 

	1. Assignor:

	 	________________
	 
	 	 
	2. Assignee:

	 	________________

[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 
	3. Borrowers:

	 	Vistaprint Limited and certain Subsidiary Borrowers
	 
	 	 
	4. Administrative Agent:

	 	JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement
	 
	 	 
	5. Credit Agreement:

	 	The Credit Agreement dated as of October 21, 2011 among Vistaprint Limited, Vistaprint N.V., the
Subsidiary Borrowers from time to time parties thereto, the Lenders parties thereto, JPMorgan
Chase Bank, N.A., as Administrative Agent, and the other agents parties thereto

 

			
	1	 	Select as applicable.

 

 

			
	6.	 	Assigned Interest:

	 	 	 	 	 	 	 	 	 
	Aggregate Amount of	 	 	 	 	 	 
	Commitment/Loans for all	 	Amount of Commitment/Loans	 	 	Percentage Assigned of	 
	Lenders	 	Assigned	 	 	Commitment/Loans2	 
	$
	 	$	 	 	 	 	%	 
	$
	 	$	 	 	 	 	%	 
	$
	 	$	 	 	 	 	%	 

Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 

Consented to and Accepted:

JPMORGAN CHASE BANK, N.A., as 

Administrative
Agent and Issuing Bank

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Title:
	 	 

[Consented to:]3

VISTAPRINT LIMITED [or each Swiss Borrower if

the assignee is not a Qualifying Bank]

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Title:
	 	 

 

			
	2	 	Set forth, so at least 9 decimals, as
percentage of the Commitment/Loans of all Lenders thereunder.
	 
	3	 	To be added only if the consent of the
Company or of each Swiss Borrower (Section 9.04(b)(ii)(F) and Section 9.04(c))
is required by the terms of the Credit Agreement.

2

 

ANNEX I

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Company, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Company, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as
applicable, and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and
without reliance on the Administrative Agent or any other Lender, and (v) if it is a Non-U.S.
Lender, attached to the Assignment and Assumption is any documentation required to be delivered by
it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy shall be effective as delivery of a manually executed
counterpart of this
Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed
in accordance with, the law of the State of New York.

 

 

EXHIBIT B-1

OPINION OF U.S. COUNSEL FOR THE LOAN PARTIES

Attached

 

 

EXHIBIT B-2

OPINION OF BERMUDA COUNSEL FOR THE LOAN PARTIES

Attached

 

 

EXHIBIT B-3

OPINION OF DUTCH COUNSEL FOR THE LOAN PARTIES

Attached

 

 

EXHIBIT B-4

OPINION OF SWISS COUNSEL FOR THE LOAN PARTIES

Attached

 

 

EXHIBIT C

FORM OF INCREASING LENDER SUPPLEMENT

     INCREASING LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), by and
among each of the signatories hereto, to the Credit Agreement, dated as of October 21, 2011 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Vistaprint Limited (the “Company”), Vistaprint N.V., the Subsidiary
Borrowers from time to time party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A.,
as administrative agent (in such capacity, the “Administrative Agent”).

WITNESSETH

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Company has the right,
subject to the terms and conditions thereof, to effectuate from time to time an increase in the
Aggregate Commitment and/or one or more tranches of Incremental Term Loans under the Credit
Agreement by requesting one or more Lenders to increase the amount of its Commitment and/or to
participate in such a tranche;

          WHEREAS, the Company has given notice to the Administrative Agent of its intention to
[increase the Aggregate Commitment] [and] [enter into a tranche of Incremental Term Loans] pursuant
to such Section 2.20; and

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the undersigned Increasing
Lender now desires to [increase the amount of its Commitment] [and] [participate in a tranche of
Incremental Term Loans] under the Credit Agreement by executing and delivering to the Company and
the Administrative Agent this Supplement;

          NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Increasing Lender agrees, subject to the terms and conditions of the Credit
Agreement, that on the date of this Supplement it shall [have its Commitment increased by
$[__________], thereby making the aggregate amount of its total Commitments equal to $[__________]]
[and] [participate in a tranche of Incremental Term Loans with a commitment amount equal to
$[__________] with respect thereto].

          2. The Company hereby represents and warrants that no Default or Event of Default has occurred
and is continuing on and as of the date hereof.

          3. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

          4. This Supplement shall be governed by, and construed in accordance with, the laws of the
State of New York.

          5. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

 

 

          IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF INCREASING LENDER]

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Accepted and agreed to as of the date first

written above:

VISTAPRINT LIMITED

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Acknowledged as of the date first written
above:

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

2

 

EXHIBIT D

FORM OF AUGMENTING LENDER SUPPLEMENT

          AUGMENTING LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), to the
Credit Agreement, dated as of October 21, 2011 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Vistaprint Limited (the
“Company”), Vistaprint N.V., the Subsidiary Borrowers from time to time party thereto, the
Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

WITNESSETH

          WHEREAS, the Credit Agreement provides in Section 2.20 thereof that any bank,
financial institution or other entity may [extend Commitments] [and] [participate in tranches of
Incremental Term Loans] under the Credit Agreement subject to the approval of the Company and the
Administrative Agent, by executing and delivering to the Company and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this Supplement; and

          WHEREAS, the undersigned Augmenting Lender was not an original party to the Credit Agreement
but now desires to become a party thereto;

          NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Augmenting Lender agrees to be bound by the provisions of the Credit
Agreement and agrees that it shall, on the date of this Supplement, become a Lender for all
purposes of the Credit Agreement to the same extent as if originally a party thereto, with a
[Commitment with respect to Revolving Loans of $[__________]] [and] [a commitment with respect to
Incremental Term Loans of $[__________]].

          2. The undersigned Augmenting Lender (a) represents and warrants that it is legally
authorized to enter into this Supplement; (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.01 thereof, as applicable, and has reviewed such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to enter into this
Supplement; (c) agrees that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the
Credit Agreement or any other instrument or document furnished pursuant hereto or thereto; (d)
appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement or any other instrument or document
furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms
thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound
by the provisions of the Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender.

          3. The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows:

[___________]

 

 

          4. The Company hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof.

          5. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

          6. This Supplement shall be governed by, and construed in accordance with, the laws of the
State of New York.

          7. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

[remainder of this page intentionally left blank]

2

 

     IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF AUGMENTING LENDER]

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Accepted and agreed to as of the date first written above:

VISTAPRINT LIMITED

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Acknowledged as of the date first written
above:

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

3

 

EXHIBIT E

LIST OF CLOSING DOCUMENTS

VISTAPRINT LIMITED,

VISTAPRINT N.V.,

and

CERTAIN SUBSIDIARY BORROWERS

CREDIT FACILITIES

October 21, 2011

LIST OF CLOSING DOCUMENTS1

A. LOAN DOCUMENTS

	1.	 	Credit Agreement (the “Credit Agreement”) by and among Vistaprint Limited, a Bermuda
company (the “Company”), Vistaprint N.V., the Subsidiary Borrowers from time to time
parties thereto (collectively with the Company, the “Borrowers”), the institutions
from time to time parties thereto as Lenders (the “Lenders”) and JPMorgan Chase Bank,
N.A., in its capacity as Administrative Agent for itself and the other Lenders (the
“Administrative Agent”), evidencing a revolving credit facility to the Borrowers from
the Lenders in an initial aggregate principal amount of $250,000,000.

SCHEDULES

	 	 	 	 	 

	Schedule 2.01

	 	—
	 	Commitments
	Schedule 2.02

	 	—
	 	Mandatory Cost
	Schedule 3.01A

	 	—
	 	Subsidiaries
	Schedule 3.01B

	 	—
	 	Options and Warrants
	Schedule 6.01

	 	—
	 	Existing Indebtedness
	Schedule 6.02

	 	—
	 	Existing Liens

EXHIBITS

	 	 	 	 	 

	Exhibit A

	 	—
	 	Form of Assignment and Assumption
	Exhibit B-1

	 	—
	 	Form of Opinion of Loan Parties’ U.S. Counsel
	Exhibit B-2

	 	—
	 	Form of Opinion of Loan Parties’ Bermuda Counsel
	Exhibit B-3

	 	—
	 	Form of Opinion of Loan Parties’ Dutch Counsel
	Exhibit B-4

	 	—
	 	Form of Opinion of Loan Parties’ Swiss Counsel
	Exhibit B-5

	 	—
	 	Form of Opinion of Loan Parties’ Australian Counsel
	Exhibit B-6

	 	—
	 	Form of Opinion of Loan Parties’ Nova Scotia Counsel
	Exhibit C

	 	—
	 	Form of Increasing Lender Supplement
	Exhibit D

	 	—
	 	Form of Augmenting Lender Supplement
	Exhibit E

	 	—
	 	List of Closing Documents

 

			
	1	 	Each capitalized term used herein and not
defined herein shall have the meaning assigned to such term in the
above-defined Credit Agreement. Items appearing in bold and italics shall be
prepared and/or provided by the Company and/or Company’s counsel.

 

 

	 	 	 	 	 

	Exhibit F-1

	 	—
	 	Form of Borrowing Subsidiary Agreement
	Exhibit F-2

	 	—
	 	Form of Borrowing Subsidiary Termination
	Exhibit G

	 	—
	 	Form of Guaranty
	Exhibit H-1

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That
Are Not Partnerships)
	Exhibit H-2

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That
Are Partnerships)
	Exhibit H-3

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Participants
That Are Not Partnerships)
	Exhibit H-4

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Participants
That Are Partnerships)

	2.	 	Notes executed by the initial Borrowers in favor of each of the Lenders, if any, which has
requested a note pursuant to Section 2.10(e) of the Credit Agreement.
	 
	3.	 	Guaranty executed by the initial Guarantors (collectively with the Borrowers, the “Loan
Parties”) in favor of the Administrative Agent

B. CORPORATE DOCUMENTS

	4.	 	Certificate of the Secretary or an Assistant Secretary of each Loan Party certifying (i) that
there have been no changes in the Certificate of Incorporation or other charter document of
such Loan Party, as attached thereto and as certified as of a recent date by the Secretary of
State (or analogous governmental entity) of the jurisdiction of its organization, since the
date of the certification thereof by such governmental entity, (ii) the By-Laws or other
applicable organizational document, as attached thereto, of such Loan Party as in effect on
the date of such certification, (iii) resolutions of the Board of Directors or other governing
body of such Loan Party and, in relation to the Parent and any Dutch Subsidiary Borrower,
resolutions of its General Meeting of Shareholders, in each case authorizing the execution,
delivery and performance of each Loan Document to which it is a party, and (iv) the names and
true signatures of the incumbent officers of each Loan Party authorized to sign the Loan
Documents to which it is a party, and (in the case of each Borrower) authorized to request a
Borrowing or the issuance of a Letter of Credit under the Credit Agreement.

	5.	 	Good Standing Certificate (or analogous documentation if applicable) for each Loan Party from
the Secretary of State (or analogous governmental entity) of the jurisdiction of its
organization, to the extent generally available in such jurisdiction.

C. OPINIONS

	6.	 	Opinion of Goodwin Procter LLP, U.S. counsel for the Loan Parties.

	7.	 	Opinion of Appleby, Bermuda counsel for the Loan Parties.

	8.	 	Opinion of Stibbe, Dutch counsel for the Loan Parties.

	9.	 	Opinion of Baker & McKenzie Zurich, Swiss counsel for the Loan Parties.

	10.	 	Opinion of Clayton Utz, Australian counsel for the Loan Parties.

	11.	 	Opinion of Stewart McKelvey Stirling Scales, Nova Scotia counsel for the Loan Parties.

2

 

D. CLOSING CERTIFICATES AND MISCELLANEOUS

	12.	 	A Certificate signed by the President, a Vice President or a Financial Officer of the Company
certifying the following: (i) all of the representations and warranties of the Company set
forth in the Credit Agreement are true and correct and (ii) no Default or Event of Default has
occurred and is then continuing.

	13.	 	Designation Letter in respect of Corporation Service Company.

3

 

EXHIBIT F-1

[FORM OF]

BORROWING SUBSIDIARY AGREEMENT

          BORROWING SUBSIDIARY AGREEMENT dated as of [_____], among Vistaprint Limited, a Bermuda
company (the “Company”), Vistaprint N.V. (the “Parent”), [Name of Subsidiary
Borrower], a [__________] (the “New Borrowing Subsidiary”), and JPMorgan Chase Bank, N.A.
as Administrative Agent (the “Administrative Agent”).

          Reference is hereby made to the Credit Agreement dated as of October 21, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Company, the Parent, the Subsidiary Borrowers from time to time party thereto, the Lenders from
time to time party thereto and JPMorgan Chase Bank, N.A. as Administrative Agent. Capitalized
terms used herein but not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement. Under the Credit Agreement, the Lenders have agreed, upon the terms and
subject to the conditions therein set forth, to make Loans to certain Subsidiary Borrowers
(collectively with the Company, the “Borrowers”), and the Company and the New Borrowing
Subsidiary desire that the New Borrowing Subsidiary become a Subsidiary Borrower. In addition, the
New Borrowing Subsidiary hereby authorizes the Company to act on its behalf as and to the extent
provided for in Article II of the Credit Agreement. [Notwithstanding the preceding
sentence, the New Borrowing Subsidiary hereby designates the following officers as being authorized
to request Borrowings under the Credit Agreement on behalf of the New Subsidiary Borrower and sign
this Borrowing Subsidiary Agreement and the other Loan Documents to which the New Borrowing
Subsidiary is, or may from time to time become, a party: [______________].]

          Each of the Company and the New Borrowing Subsidiary represents and warrants that the
representations and warranties of the Company in the Credit Agreement relating to the New Borrowing
Subsidiary and this Agreement are true and correct in all material respects on and as of the date
hereof, other than representations given as of a particular date, in which case they shall be true
and correct in all material respects as of that date. [The Company and the New Borrowing
Subsidiary further represent and warrant that the execution, delivery and performance by the New
Borrowing Subsidiary of the transactions contemplated under this Agreement and the use of any of
the proceeds raised in connection with this Agreement will not contravene or conflict with, or
otherwise constitute unlawful financial assistance under, Sections 677 to 683 (inclusive) of the
United Kingdom Companies Act 2006 of England and Wales (as amended).] [INSERT OTHER PROVISIONS
REASONABLY REQUESTED BY ADMINISTRATIVE AGENT OR ITS COUNSELS]1 The Company agrees that
the Guarantee of the Company contained in the Credit Agreement will apply to the Obligations of the
New Borrowing Subsidiary. Upon execution of this Agreement by each of the Company, the New
Borrowing Subsidiary and the Administrative Agent, the New Borrowing Subsidiary shall be a party to
the Credit Agreement and shall constitute a “Subsidiary Borrower” for all purposes thereof, and the
New Borrowing Subsidiary hereby agrees to be bound by all provisions of the Credit Agreement.

          This Agreement shall be governed by and construed in accordance with the laws of the State of
New York.

[Signature Page Follows]

 

			
	1	 	To be included only if a New Borrowing
Subsidiary will be a Borrower organized under the laws of England and Wales.

 

 

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

	 	 	 	 	 
	 	VISTAPRINT LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF NEW BORROWING SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT F-2

[FORM OF]

BORROWING SUBSIDIARY TERMINATION

JPMorgan Chase Bank, N.A.

as Administrative Agent

for the Lenders referred to below

10 South Dearborn

Chicago, Illinois 60603

Attention: [__________]

[Date]

Ladies and Gentlemen:

          The undersigned, Vistaprint Limited (the “Company”), refers to the Credit Agreement
dated as of October 21, 2011 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among the Company, the Subsidiary Borrowers from time to time party
thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Capitalized terms used and not
otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

          The Company hereby terminates the status of [______________] (the “Terminated Borrowing
Subsidiary”) as a Subsidiary Borrower under the Credit Agreement. [The Company represents and
warrants that no Loans made to the Terminated Borrowing Subsidiary are outstanding as of the date
hereof and that all amounts payable by the Terminated Borrowing Subsidiary in respect of interest
and/or fees (and, to the extent notified by the Administrative Agent or any Lender, any other
amounts payable under the Credit Agreement) pursuant to the Credit Agreement have been paid in full
on or prior to the date hereof.] [The Company acknowledges that the Terminated Borrowing Subsidiary
shall continue to be a Borrower until such time as all Loans made to the Terminated Borrowing
Subsidiary shall have been prepaid and all amounts payable by the Terminated Borrowing Subsidiary
in respect of interest and/or fees (and, to the extent notified by the Administrative Agent or any
Lender, any other amounts payable under the Credit Agreement) pursuant to the Credit Agreement
shall have been paid in full, provided that the Terminated Borrowing Subsidiary shall not
have the right to make further Borrowings under the Credit Agreement.]

[Signature Page Follows]

 

 

          This instrument shall be construed in accordance with and governed by the laws of the State of
New York.

	 	 	 	 	 
	 	Very truly yours,

VISTAPRINT LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

			
	Copy to:	 	JPMorgan Chase Bank, N.A.

270 Park Avenue

New York, New York 10017

2

 

EXHIBIT G

[FORM OF]

GUARANTY

GUARANTY

          THIS GUARANTY (this “Guaranty”) is made as of October 21, 2011, by and among each of
the undersigned (the “Initial Guarantors” and along with any additional Subsidiaries of the Company
which become parties to this Guaranty by executing a supplement hereto in the form attached as
Annex I, the “Guarantors”) in favor of the Administrative Agent, for the ratable benefit of
the Holders of Guaranteed Obligations (as defined below), under the Credit Agreement referred to
below.

WITNESSETH

          WHEREAS, Vistaprint Limited, a Bermuda company (the “Company”), the Subsidiary
Borrowers parties thereto (the “Subsidiary Borrowers” and, together with the Company, the
“Borrowers”), the institutions from time to time parties thereto as lenders (the
“Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative
Agent”) have entered into a certain Credit Agreement dated as of October 21, 2011 (as the same
may be amended, modified, supplemented and/or restated, and as in effect from time to time, the
“Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions
of credit and other financial accommodations to be made by the Lenders to the Borrowers;

          WHEREAS, it is a condition precedent to the extensions of credit by the Lenders under the
Credit Agreement that each of the Guarantors (constituting the Parent and all of the Subsidiaries
of the Company required to execute this Guaranty pursuant to Section 5.09 of the Credit Agreement)
execute and deliver this Guaranty, whereby each of the Guarantors shall guarantee the payment when
due of all Obligations; and

          WHEREAS, in consideration of the direct and indirect financial and other support that the
Borrowers have provided, and such direct and indirect financial and other support as the Borrowers
may in the future provide, to the Guarantors, and in order to induce the Lenders and the
Administrative Agent to enter into the Credit Agreement, each of the Guarantors is willing to
guarantee the Obligations of the Borrowers;

          NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

          SECTION 1. Definitions. Terms defined in the Credit Agreement and not otherwise
defined herein have, as used herein, the respective meanings provided for therein.

          SECTION 2. Representations, Warranties and Covenants. Each of the Guarantors
represents and warrants (which representations and warranties shall be deemed to have been renewed
at the time of the making, conversion or continuation of any Loan or issuance of any Letter of
Credit) that:

     (A) It is a corporation, company, partnership or limited liability company duly and
properly incorporated or organized, as the case may be, validly existing and (to the extent
such

 

 

concept applies to such entity) in good standing under the laws of its jurisdiction of
incorporation, organization or formation and has all requisite authority to conduct its
business in each jurisdiction in which its business is conducted, except to the extent that
the failure to have such authority could not reasonably be expected to have a Material
Adverse Effect.

     (B) It (to the extent applicable) has the requisite power and authority and legal right
to execute and deliver this Guaranty and to perform its obligations hereunder. The
execution and delivery by each Guarantor of this Guaranty and the performance by each of its
obligations hereunder have been duly authorized by proper proceedings, and this Guaranty
constitutes a legal, valid and binding obligation of such Guarantor, respectively,
enforceable against such Guarantor, respectively, in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally.

     (C) Neither the execution and delivery by it of this Guaranty, nor the consummation by
it of the transactions herein contemplated, nor compliance by it with the provisions hereof
will (i) violate any law, rule, regulation, order, writ, judgment, injunction, decree or
award binding on it or its articles or certificate of incorporation (or equivalent charter
or constating documents), limited liability company or partnership agreement, certificate of
partnership, articles or certificate of organization, by-laws, or operating agreement or
other management agreement, as the case may be, or the provisions of any indenture,
instrument or agreement to which any of the Borrowers or any of its Subsidiaries is a party
or is subject, or by which it, or its property, is bound, or (ii) conflict with, or
constitute a default under, or result in, or require, the creation or imposition of any Lien
in, of or on its property pursuant to the terms of, any such indenture, instrument or
agreement (other than any Loan Document). No order, consent, adjudication, approval,
license, authorization, or validation of, or filing, recording or registration with, or
exemption by, or other action in respect of any governmental or public body or authority, or
any subdivision thereof, which has not been obtained by it, is required to be obtained by it
in connection with the execution, delivery and performance by it of, or the legality,
validity, binding effect or enforceability against it of, this Guaranty.

          In addition to the foregoing, each of the Guarantors covenants that, so long as any Lender has
any Commitment outstanding under the Credit Agreement or any amount payable under the Credit
Agreement or any other Guaranteed Obligations (other than contingent indemnity obligations not yet
due and payable) shall remain unpaid, it will, and, if necessary, will enable each of the Borrowers
to, fully comply with those covenants and agreements of such Borrower applicable to such Guarantor
set forth in the Credit Agreement.

          SECTION 3. The Guaranty. Each of the Guarantors hereby unconditionally guarantees,
jointly with the other Guarantors and severally, the full and punctual payment and performance when
due (whether at stated maturity, upon acceleration or otherwise) of the Obligations, including,
without limitation, (i) the principal of and interest on each Loan made to any Borrower pursuant to
the Credit Agreement, (ii) any obligations of any Borrower to reimburse LC Disbursements
(“Reimbursement Obligations”), (iii) all obligations of any Borrower owing to any Lender or
any affiliate of any Lender under any Swap Agreement or Banking Services Agreement, (iv) all other
amounts payable by any Borrower or any of its Subsidiaries under the Credit Agreement, any Swap
Agreement, any Banking Services Agreement and the other Loan Documents and (v) the punctual and
faithful performance, keeping, observance, and fulfillment by any Borrower of all of the
agreements, conditions, covenants, and obligations of such Borrower contained in the Loan Documents
(all of the foregoing being referred to collectively as the “Guaranteed Obligations” and the
holders from time to time of the Guaranteed Obligations being referred to collectively as the
“Holders of Guaranteed Obligations”). Upon (x) the failure by any Borrower or any of its
Affiliates, as applicable, to pay punctually any such amount

2

 

or perform such obligation, and (y) such failure continuing beyond any applicable grace or
notice and cure period, each of the Guarantors agrees that it shall forthwith on demand pay such
amount or perform such obligation at the place and in the manner specified in the Credit Agreement,
any Swap Agreement, any Banking Services Agreement or the relevant Loan Document, as the case may
be. Each of the Guarantors hereby agrees that this Guaranty is an absolute, irrevocable and
unconditional guaranty of payment and is not a guaranty of collection.

          SECTION 4. Guaranty Unconditional. The obligations of each of the Guarantors
hereunder shall be unconditional and absolute and, without limiting the generality of the
foregoing, shall not be released, discharged or otherwise affected by:

     (A) any extension, renewal, settlement, indulgence, compromise, waiver or release of or
with respect to the Guaranteed Obligations or any part thereof or any agreement relating
thereto, or with respect to any obligation of any other guarantor of any of the Guaranteed
Obligations, whether (in any such case) by operation of law or otherwise, or any failure or
omission to enforce any right, power or remedy with respect to the Guaranteed Obligations or
any part thereof or any agreement relating thereto, or with respect to any obligation of any
other guarantor of any of the Guaranteed Obligations;

     (B) any modification or amendment of or supplement to the Credit Agreement, any Swap
Agreement, any Banking Services Agreement or any other Loan Document, including, without
limitation, any such amendment which may increase the amount of, or the interest rates
applicable to, any of the Obligations guaranteed hereby;

     (C) any release, surrender, compromise, settlement, waiver, subordination or
modification, with or without consideration, of any collateral securing the Guaranteed
Obligations or any part thereof, any other guaranties with respect to the Guaranteed
Obligations or any part thereof, or any other obligation of any person or entity with
respect to the Guaranteed Obligations or any part thereof, or any nonperfection or
invalidity of any direct or indirect security for the Guaranteed Obligations;

     (D) any change in the corporate, partnership or other existence, structure or ownership
of any Borrower or any other guarantor of any of the Guaranteed Obligations, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting such Borrower
or any other guarantor of the Guaranteed Obligations, or any of their respective assets or
any resulting release or discharge of any obligation of such Borrower or any other guarantor
of any of the Guaranteed Obligations;

     (E) the existence of any claim, setoff or other rights which the Guarantors may have at
any time against any Borrower, any other guarantor of any of the Guaranteed Obligations, the
Administrative Agent, any Holder of Guaranteed Obligations or any other Person, whether in
connection herewith or in connection with any unrelated transactions; provided that
nothing herein shall prevent the assertion of any such claim by separate suit or compulsory
counterclaim;

     (F) the enforceability or validity of the Guaranteed Obligations or any part thereof or
the genuineness, enforceability or validity of any agreement relating thereto or with
respect to any collateral securing the Guaranteed Obligations or any part thereof, or any
other invalidity or unenforceability relating to or against any Borrower or any other
guarantor of any of the Guaranteed Obligations, for any reason related to the Credit
Agreement, any Swap Agreement, any Banking Services Agreement, any other Loan Document, or
any provision of applicable law decree, order or regulation of any jurisdiction purporting
to prohibit the payment by such

3

 

Borrower or any other guarantor of the Guaranteed Obligations, of any of the Guaranteed
Obligations or otherwise affecting any term of any of the Guaranteed Obligations;

     (G) the failure of the Administrative Agent to take any steps to perfect and maintain
any security interest in, or to preserve any rights to, any security or collateral for the
Guaranteed Obligations, if any;

     (H) the election by, or on behalf of, any one or more of the Holders of Guaranteed
Obligations, in any proceeding instituted under Chapter 11 of Title 11 of the United States
Code (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application of Section
1111(b)(2) of the Bankruptcy Code or any other applicable federal, state, provincial,
municipal, local or foreign law relating to such matters;

     (I) any borrowing or grant of a security interest by any Borrower, as
debtor-in-possession, under Section 364 of the Bankruptcy Code or any other applicable
federal, state, provincial, municipal, local or foreign law relating to such matters;

     (J) the disallowance, under Section 502 of the Bankruptcy Code or any other applicable
federal, state, provincial, municipal, local or foreign law relating to such matters, of all
or any portion of the claims of the Holders of Guaranteed Obligations or the Administrative
Agent for repayment of all or any part of the Guaranteed Obligations;

     (K) the failure of any other guarantor to sign or become party to this Guaranty or any
amendment, change, or reaffirmation hereof; or

     (L) any other act or omission to act or delay of any kind by any Borrower, any other
guarantor of the Guaranteed Obligations, the Administrative Agent, any Holder of Guaranteed
Obligations or any other Person or any other circumstance whatsoever which might, but for
the provisions of this Section 4, constitute a legal or equitable discharge of any
Guarantor’s obligations hereunder except as provided in Section 5.

          SECTION 5. Discharge Only Upon Payment In Full: Reinstatement In Certain
Circumstances. Each of the Guarantors’ obligations hereunder shall remain in full force and
effect until all Guaranteed Obligations (other than contingent indemnity obligations not yet due
and payable) shall have been paid in full in cash and the Commitments and all Letters of Credit
issued under the Credit Agreement shall have terminated or expired. If at any time any payment of
the principal of or interest on any Loan, any Reimbursement Obligation or any other amount payable
by any Borrower or any other party under the Credit Agreement, any Swap Agreement, any Banking
Services Agreement or any other Loan Document is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of any Borrower or otherwise, each of
the Guarantors’ obligations hereunder with respect to such payment shall be reinstated as though
such payment had been due but not made at such time. The parties hereto acknowledge and agree that
each of the Guaranteed Obligations shall be due and payable in the same currency as such Guaranteed
Obligation is denominated but if currency control or exchange regulations are imposed in the
country which issues such currency with the result that such currency (the “Original
Currency”) no longer exists or the relevant Guarantor is not able to make payment in such
Original Currency, then all payments to be made by such Guarantor hereunder in such currency shall
instead be made when due in Dollars in an amount equal to the Dollar Amount (as of the date of
payment) of such payment due, it being the intention of the parties hereto that each Guarantor
takes all risks of the imposition of any such currency control or exchange regulations.

          SECTION 6. General Waivers; Additional Waivers.

4

 

     (A) General Waivers. Each of the Guarantors irrevocably waives acceptance hereof,
presentment, demand or action on delinquency, protest, the benefit of any statutes of
limitations and, to the fullest extent permitted by law, any notice not provided for herein,
as well as any requirement that at any time any action be taken by any Person against any
Borrower, any other guarantor of the Guaranteed Obligations, or any other Person.

     (B) Additional Waivers. Notwithstanding anything herein to the contrary, each of the
Guarantors hereby absolutely, unconditionally, knowingly, and expressly waives:

     (i) any right it may have to revoke this Guaranty as to future indebtedness or notice
of acceptance hereof;

     (ii) (a) notice of acceptance hereof; (b) notice of any loans or other financial
accommodations made or extended under the Loan Documents or the creation or existence of any
Guaranteed Obligations; (c) notice of the amount of the Guaranteed Obligations, subject,
however, to each Guarantor’s right to make inquiry of Administrative Agent and Holders of
Guaranteed Obligations to ascertain the amount of the Guaranteed Obligations at any
reasonable time; (d) notice of any adverse change in the financial condition of any Borrower
or of any other fact that might increase such Guarantor’s risk hereunder; (e) notice of
presentment for payment, demand, protest, and notice thereof as to any instruments among the
Loan Documents; (f) notice of any Default or Event of Default; and (g) all other notices
(except if such notice is specifically required to be given to such Guarantor hereunder or
under the Loan Documents) and demands to which each Guarantor might otherwise be entitled;

     (iii) its right, if any, to require the Administrative Agent and the other Holders of
Guaranteed Obligations to institute suit against, or to exhaust any rights and remedies
which the Administrative Agent and the other Holders of Guaranteed Obligations has or may
have against, the other Guarantors or any third party; and each Guarantor further waives any
defense arising by reason of any disability or other defense (other than the defense that
the Guaranteed Obligations shall have been fully and finally performed and indefeasibly
paid) of the other Guarantors or by reason of the cessation from any cause whatsoever of the
liability of the other Guarantors in respect thereof;

     (iv) (a) any rights to assert against the Administrative Agent and the other Holders of
Guaranteed Obligations any defense (legal or equitable), set-off, counterclaim, or claim
which such Guarantor may now or at any time hereafter have against the other Guarantors or
any other party liable to the Administrative Agent and the other Holders of Guaranteed
Obligations; (b) any defense, set-off, counterclaim, or claim, of any kind or nature,
arising directly or indirectly from the present or future lack of perfection, sufficiency,
validity, or enforceability of the Guaranteed Obligations or any security therefor; (c) any
defense such Guarantor has to performance hereunder, and any right such Guarantor has to be
exonerated, arising by reason of: the impairment or suspension of the Administrative
Agent’s and the other Holders of Guaranteed Obligations’ rights or remedies against the
other Guarantors; the alteration by the Administrative Agent and the other Holders of
Guaranteed Obligations of the Guaranteed Obligations; any discharge of the other Guarantors’
obligations to the Administrative Agent and the other Holders of Guaranteed Obligations by
operation of law as a result of the Administrative Agent’s and the other Holders of
Guaranteed Obligations’ intervention or omission; or the acceptance by the Administrative
Agent and the other Holders of Guaranteed Obligations of anything in partial satisfaction of
the Guaranteed Obligations; and (d) the benefit of any statute of limitations affecting such
Guarantor’s liability hereunder or the enforcement thereof, and any act which shall defer or
delay the operation of any statute of limitations applicable to the Guaranteed Obligations

5

 

shall similarly operate to defer or delay the operation of such statute of limitations
applicable to such Guarantor’s liability hereunder; and

     (v) any defense arising by reason of or deriving from (a) any claim or defense based
upon an election of remedies by the Administrative Agent and the other Holders of Guaranteed
Obligations; or (b) any election by the Administrative Agent and the other Holders of
Guaranteed Obligations under Section 1111(b) of Title 11 of the United States Code entitled
“Bankruptcy” or any other applicable federal, state, provincial, municipal, local or foreign
law relating to such matters, as now and hereafter in effect (or any successor statute), to
limit the amount of, or any collateral securing, its claim against the Guarantors.

          SECTION 7. Subordination of Subrogation; Subordination of Intercompany Indebtedness.

     (A) Subordination of Subrogation. Until the Guaranteed Obligations (other than
contingent indemnity obligations not yet due and payable) have been fully and finally
performed and indefeasibly paid in full in cash, the Guarantors (i) shall have no right of
subrogation with respect to such Guaranteed Obligations (ii) waive any right to enforce any
remedy which the Holders of Guaranteed Obligations, the Issuing Bank or the Administrative
Agent now have or may hereafter have against any Borrower, any endorser or any guarantor of
all or any part of the Guaranteed Obligations or any other Person, and (iii) waive any
benefit of, and any right to participate in, any security or collateral given to the Holders
of Guaranteed Obligations, the Issuing Bank and the Administrative Agent to secure the
payment or performance of all or any part of the Guaranteed Obligations or any other
liability of any Borrower to the Holders of Guaranteed Obligations or the Issuing Bank.
Should any Guarantor have the right, notwithstanding the foregoing, to exercise its
subrogation rights, each Guarantor hereby expressly and irrevocably (A) subordinates any and
all rights at law or in equity to subrogation, reimbursement, exoneration, contribution,
indemnification or set off that such Guarantor may have to the indefeasible payment in full
in cash of the Guaranteed Obligations and (B) waives any and all defenses available to a
surety, guarantor or accommodation co-obligor until the Guaranteed Obligations are
indefeasibly paid in full in cash. Each Guarantor acknowledges and agrees that this
subordination is intended to benefit the Administrative Agent and the other Holders of
Guaranteed Obligations and shall not limit or otherwise affect such Guarantor’s liability
hereunder or the enforceability of this Guaranty, and that the Administrative Agent, the
other Holders of Guaranteed Obligations and their respective successors and assigns are
intended third party beneficiaries of the waivers and agreements set forth in this Section
7(A).

     (B) Subordination of Intercompany Indebtedness. Each Guarantor agrees that any
and all claims of such Guarantor against any Borrower or any other Guarantor hereunder (each
an “Obligor”) with respect to any “Intercompany Indebtedness” (as hereinafter
defined), any endorser, obligor or any other guarantor of all or any part of the Guaranteed
Obligations, or against any of its properties shall be subordinate and subject in right of
payment to the prior payment, in full and in cash, of all Guaranteed Obligations;
provided that, as long as no Event of Default has occurred and is continuing, such
Guarantor may receive payments of principal and interest from any Obligor with respect to
Intercompany Indebtedness. Notwithstanding any right of any Guarantor to ask, demand, sue
for, take or receive any payment from any Obligor, all rights, liens and security interests
of such Guarantor, whether now or hereafter arising and howsoever existing, in any assets of
any other Obligor shall be and are subordinated to the rights of the Holders of Guaranteed
Obligations and the Administrative Agent in those assets. No Guarantor shall have any right
to possession of any such asset or to foreclose upon any such asset, whether by judicial
action or otherwise, unless and until all of the Guaranteed Obligations (other

6

 

than contingent indemnity obligations not yet due and payable) shall have been fully
paid and satisfied (in cash) and all financing arrangements pursuant to any Loan Document,
any Swap Agreement or any Banking Services Agreement have been terminated. If all or any
part of the assets of any Obligor, or the proceeds thereof, are subject to any distribution,
division or application to the creditors of such Obligor, whether partial or complete,
voluntary or involuntary, and whether by reason of liquidation, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other action or proceeding, or
if the business of any such Obligor is dissolved or if substantially all of the assets of
any such Obligor are sold, then, and in any such event (such events being herein referred to
as an “Insolvency Event”), any payment or distribution of any kind or character,
either in cash, securities or other property, which shall be payable or deliverable upon or
with respect to any indebtedness of any Obligor to any Guarantor (“Intercompany
Indebtedness”) shall be paid or delivered directly to the Administrative Agent for
application on any of the Guaranteed Obligations, due or to become due, until such
Guaranteed Obligations shall have first been fully paid and satisfied (in cash). Should any
payment, distribution, security or instrument or proceeds thereof be received by the
applicable Guarantor upon or with respect to the Intercompany Indebtedness after any
Insolvency Event and prior to the satisfaction of all of the Guaranteed Obligations and the
termination of all financing arrangements pursuant to any Loan Document among any Borrower
and the Holders of Guaranteed Obligations, such Guarantor shall receive and hold the same in
trust, as trustee, for the benefit of the Holders of Guaranteed Obligations and shall
forthwith deliver the same to the Administrative Agent, for the benefit of the Holders of
Guaranteed Obligations, in precisely the form received (except for the endorsement or
assignment of the Guarantor where necessary), for application to any of the Guaranteed
Obligations, due or not due, and, until so delivered, the same shall be held in trust by the
Guarantor as the property of the Holders of Guaranteed Obligations. If any such Guarantor
fails to make any such endorsement or assignment to the Administrative Agent, the
Administrative Agent or any of its officers or employees is irrevocably authorized to make
the same. Each Guarantor agrees that until the Guaranteed Obligations (other than the
contingent indemnity obligations) have been paid in full (in cash) and satisfied and all
financing arrangements pursuant to any Loan Document among any Borrower and the Holders of
Guaranteed Obligations have been terminated, no Guarantor will assign or transfer to any
Person (other than the Administrative Agent) any claim any such Guarantor has or may have
against any Obligor.

          SECTION 8. Contribution with Respect to Guaranteed Obligations.

     (A) To the extent that any Guarantor shall make a payment under this Guaranty (a
“Guarantor Payment”) which, taking into account all other Guarantor Payments then
previously or concurrently made by any other Guarantor, exceeds the amount which otherwise
would have been paid by or attributable to such Guarantor if each Guarantor had paid the
aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion
as such Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior
to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Guarantors
as determined immediately prior to the making of such Guarantor Payment, then, following
indefeasible payment in full in cash of the Guaranteed Obligations and termination of the
Credit Agreement, the Swap Agreements and the Banking Services Agreements, such Guarantor
shall be entitled to receive contribution and indemnification payments from, and be
reimbursed by, each other Guarantor for the amount of such excess, pro rata based upon their
respective Allocable Amounts in effect immediately prior to such Guarantor Payment.

     (B) As of any date of determination, the “Allocable Amount” of any Guarantor shall be
equal to the excess of the fair saleable value of the property of such Guarantor over the
total

7

 

liabilities of such Guarantor (including the maximum amount reasonably expected to
become due in respect of contingent liabilities, calculated, without duplication, assuming
each other Guarantor that is also liable for such contingent liability pays its ratable
share thereof), giving effect to all payments made by other Guarantors as of such date in a
manner to maximize the amount of such contributions.

     (C) This Section 8 is intended only to define the relative rights of the Guarantors,
and nothing set forth in this Section 8 is intended to or shall impair the obligations of
the Guarantors, jointly and severally, to pay any amounts as and when the same shall become
due and payable in accordance with the terms of this Guaranty.

     (D) The parties hereto acknowledge that the rights of contribution and indemnification
hereunder shall constitute assets of the Guarantor or Guarantors to which such contribution
and indemnification is owing.

     (E) The rights of the indemnifying Guarantors against other Guarantors under this
Section 8 shall be exercisable upon the full and indefeasible payment of the Guaranteed
Obligations in cash and the termination of the Credit Agreement, the Swap Agreements and the
Banking Services Agreements.

          SECTION 9. Limitation on Guaranty. Notwithstanding any other provision of this
Guaranty, the amount guaranteed by each Guarantor hereunder shall be limited to the extent, if any,
required so that its obligations hereunder shall not be subject to avoidance under Section 548 of
the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform
Fraudulent Conveyance Act or similar statute or common law. In determining the limitations, if
any, on the amount of any Guarantor’s obligations hereunder pursuant to the preceding sentence, it
is the intention of the parties hereto that any rights of subrogation, indemnification or
contribution which such Guarantor may have under this Guaranty, any other agreement or applicable
law shall be taken into account.

          SECTION 10. Stay of Acceleration. If acceleration of the time for payment of any
amount payable by any Borrower under the Credit Agreement, any Swap Agreement, any Banking Services
Agreement or any other Loan Document is stayed upon the insolvency, bankruptcy or reorganization of
such Borrower, all such amounts otherwise subject to acceleration under the terms of the Credit
Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document shall
nonetheless be payable by each of the Guarantors hereunder forthwith on demand by the
Administrative Agent.

          SECTION 11. Notices. All notices, requests and other communications to any party
hereunder shall be given in the manner prescribed in Article IX of the Credit Agreement with
respect to the Administrative Agent at its notice address therein and with respect to any
Guarantor, in care of the Company at the address of the Company set forth in the Credit Agreement
or such other address or telecopy number as such party may hereafter specify for such purpose by
notice to the Administrative Agent in accordance with the provisions of such Article IX.

          SECTION 12. No Waivers. No failure or delay by the Administrative Agent or any other
Holder of Guaranteed Obligations in exercising any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or
further exercise thereof or the exercise of any other right, power or privilege. The rights and
remedies provided in this Guaranty, the Credit Agreement, any Swap Agreement, any Banking Services
Agreement and the other Loan Documents shall be cumulative and not exclusive of any rights or
remedies provided by law.

8

 

          SECTION 13. Successors and Assigns. This Guaranty is for the benefit of the
Administrative Agent and the other Holders of Guaranteed Obligations and their respective
successors and permitted assigns; provided, that no Guarantor shall have any right to
assign its rights or obligations hereunder without the consent of all of the Lenders, and any such
assignment in violation of this Section 13 shall be null and void; and in the event of an
assignment of any amounts payable under the Credit Agreement, any Swap Agreement, any Banking
Services Agreement or the other Loan Documents in accordance with the respective terms thereof, the
rights hereunder, to the extent applicable to the indebtedness so assigned, may be transferred with
such indebtedness. This Guaranty shall be binding upon each of the Guarantors and their respective
successors and assigns.

          SECTION 14. Changes in Writing. Other than in connection with the addition of
additional Subsidiaries, which become parties hereto by executing a supplement hereto in the form
attached as Annex I, neither this Guaranty nor any provision hereof may be changed, waived,
discharged or terminated orally, but only in writing signed by each of the Guarantors and the
Administrative Agent.

          SECTION 15. GOVERNING LAW. THIS GUARANTY SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

          SECTION 16. CONSENT TO JURISDICTION; SERVICE OF PROCESS; JURY TRIAL; IMMUNITY.

     (A) CONSENT TO JURISDICTION. EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN
THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY
AND EACH GUARANTOR HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY
OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING
HEREIN SHALL LIMIT THE RIGHT OF THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER TO
BRING PROCEEDINGS AGAINST ANY GUARANTOR IN THE COURTS OF ANY OTHER JURISDICTION. ANY
JUDICIAL PROCEEDING BY ANY GUARANTOR AGAINST THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR
ANY LENDER OR ANY AFFILIATE OF THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR
CONNECTED WITH THIS GUARANTY OR ANY OTHER LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN
THE CITY OF NEW YORK.

     (B) EACH GUARANTOR HEREBY IRREVOCABLY DESIGNATES, APPOINTS AND EMPOWERS THE SERVICE OF
PROCESS AGENT, WITH OFFICES ON THE DATE HEREOF AT 111 EIGHTH AVENUE, NEW YORK, NEW YORK
10011, AS ITS DESIGNEE, APPOINTEE AND AGENT TO RECEIVE, ACCEPT AND ACKNOWLEDGE FOR AND ON
ITS BEHALF, AND IN RESPECT OF ITS PROPERTY, SERVICE OF ANY AND ALL LEGAL PROCESS, SUMMONS,
NOTICES AND DOCUMENTS WHICH MAY BE SERVED IN ANY SUCH ACTION OR PROCEEDING. IF FOR ANY
REASON SUCH DESIGNEE, APPOINTEE AND AGENT SHALL CEASE TO BE AVAILABLE TO ACT AS SUCH, THE
PARENT AND EACH BORROWER AGREE TO DESIGNATE A NEW DESIGNEE, APPOINTEE AND AGENT IN NEW YORK
CITY ON THE TERMS AND FOR THE PURPOSES OF THIS PROVISION REASONABLY SATISFACTORY TO THE

9

 

ADMINISTRATIVE AGENT UNDER THIS AGREEMENT. EACH GUARANTOR IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, ALL CLAIM OF ERROR BY REASON OF ANY SUCH SERVICE IN SUCH
MANNER AND AGREES THAT SUCH SERVICE SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF
PROCESS UPON SUCH GUARANTOR IN ANY SUCH SUIT, ACTION OR PROCEEDING AND SHALL, TO THE FULLEST
EXTENT PERMITTED BY LAW, BE TAKEN AND HELD TO BE VALID AND PERSONAL SERVICE UPON AND
PERSONAL DELIVERY TO SUCH GUARANTOR. NOTHING HEREIN WILL AFFECT THE RIGHT OF ANY PARTY
HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

     (C) WAIVER OF JURY TRIAL. EACH GUARANTOR HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL
PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT
OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS GUARANTY OR ANY
OTHER LOAN DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER AND FURTHER WAIVES ANY RIGHT
TO INTERPOSE ANY COUNTERCLAIM RELATED TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED
HEREBY IN SUCH ACTION.

     (D) TO THE EXTENT THAT ANY GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM
JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER FROM SERVICE OR NOTICE,
ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OF A JUDGMENT, EXECUTION OR
OTHERWISE), EACH GUARANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS
OBLIGATIONS UNDER THIS GUARANTY.

          SECTION 17. No Strict Construction. The parties hereto have participated jointly in
the negotiation and drafting of this Guaranty. In the event an ambiguity or question of intent or
interpretation arises, this Guaranty shall be construed as if drafted jointly by the parties hereto
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of
the authorship of any provisions of this Guaranty.

          SECTION 18. Taxes, Expenses of Enforcement, etc.

     (A) Taxes.

     (i) Each payment by any Guarantor hereunder or under any promissory note or application
for a Letter of Credit shall be made without withholding for any Taxes, unless such
withholding is required by any law. If any Guarantor determines, in its sole discretion
exercised in good faith, that it is so required to withhold Taxes, then such Guarantor may
so withhold and shall timely pay the full amount of withheld Taxes to the relevant
Governmental Authority in accordance with applicable law. If such Taxes are Indemnified
Taxes, then the amount payable by the Guarantor shall be increased as necessary so that, net
of such withholding (including such withholding applicable to additional amounts payable
under this Section), the applicable Recipient receives the amount it would have received had
no such withholding been made.

     (ii) In addition, such Guarantor shall timely pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable law.

10

 

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

     (iv) The Guarantors shall jointly and severally indemnify each Recipient for any
Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan
Document (including amounts payable under this Section 18(A)) and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. The
indemnity under this Section 18(A) shall be paid within ten (10) days after the Recipient
delivers to any Guarantor a certificate stating the amount of any Indemnified Taxes so
payable by such Recipient. Such certificate shall be conclusive of the amount so payable
absent manifest error. Such Recipient shall deliver a copy of such certificate to the
Administrative Agent. In the case of any Lender making a claim under this Section 18(A) on
behalf of any of its beneficial owners, an indemnity payment under this Section 18(A) shall
be due only to the extent that such Lender is able to establish that, with respect to the
applicable Indemnified Taxes, such beneficial owners supplied to the applicable Persons such
properly completed and executed documentation necessary to claim any applicable exemption
from, or reduction of, such Indemnified Taxes.

     (v) By accepting the benefits hereof, each Lender agrees that it will comply with
Section 2.17(f) of the Credit Agreement.

     (B) Expenses of Enforcement, Etc. The Guarantors agree to reimburse the
Administrative Agent and the other Holders of Guaranteed Obligations for any reasonable
costs and out-of-pocket expenses (including attorneys’ fees) paid or incurred by the
Administrative Agent or any other Holder of Guaranteed Obligations in connection with the
collection and enforcement of amounts due under the Loan Documents, including without
limitation this Guaranty.

          SECTION 19. Setoff. At any time after all or any part of the Guaranteed Obligations
have become due and payable (by acceleration or otherwise), each Holder of Guaranteed Obligations
(including the Administrative Agent) may, without notice to any Guarantor and regardless of the
acceptance of any security or collateral for the payment hereof, appropriate and apply in
accordance with the terms of the Credit Agreement toward the payment of all or any part of the
Guaranteed Obligations due and payable (i) any indebtedness due or to become due from such Holder
of Guaranteed Obligations or the Administrative Agent to any Guarantor, and (ii) any moneys,
credits or other property belonging to any Guarantor, at any time held by or coming into the
possession of such Holder of Guaranteed Obligations (including the Administrative Agent) or any of
their respective affiliates.

          SECTION 20. Financial Information. Each Guarantor hereby assumes responsibility for
keeping itself informed of the financial condition of each of the Borrowers and any and all
endorsers and/or other Guarantors of all or any part of the Guaranteed Obligations, and of all
other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations, or any part
thereof, that diligent inquiry would reveal, and each Guarantor hereby agrees that none of the
Holders of Guaranteed Obligations (including the Administrative Agent) shall have any duty to
advise such Guarantor of information known to any of them regarding such condition or any such
circumstances. In the event any Holder of Guaranteed Obligations (including the Administrative
Agent), in its sole discretion, undertakes at any time or from time to time to provide any such
information to a Guarantor, such Holder of Guaranteed Obligations (including the Administrative
Agent) shall be under no obligation (i) to undertake

11

 

any investigation not a part of its regular business routine, (ii) to disclose any information
which such Holder of Guaranteed Obligations (including the Administrative Agent), pursuant to
accepted or reasonable commercial finance or banking practices, wishes to maintain confidential or
(iii) to make any other or future disclosures of such information or any other information to such
Guarantor.

          SECTION 21. Severability. Wherever possible, each provision of this Guaranty shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Guaranty shall be prohibited by or invalid under such law, such provision shall be
ineffective to the extent of such prohibition or invalidity without invalidating the remainder of
such provision or the remaining provisions of this Guaranty.

          SECTION 22. Merger. This Guaranty represents the final agreement of each of the
Guarantors with respect to the matters contained herein and may not be contradicted by evidence of
prior or contemporaneous agreements, or subsequent oral agreements, between the Guarantor and any
Holder of Guaranteed Obligations (including the Administrative Agent).

          SECTION 23. Headings. Section headings in this Guaranty are for convenience of
reference only and shall not govern the interpretation of any provision of this Guaranty.

          SECTION 24. Judgment Currency. If for the purposes of obtaining judgment in any court
it is necessary to convert a sum due from any Guarantor hereunder in the currency expressed to be
payable herein (the “specified currency”) into another currency, the parties hereto agree,
to the fullest extent that they may effectively do so, that the rate of exchange used shall be that
at which in accordance with normal banking procedures the Administrative Agent could purchase the
specified currency with such other currency at the Administrative Agent’s main New York City office
on the Business Day preceding that on which final, non-appealable judgment is given. The
obligations of each Guarantor in respect of any sum due hereunder shall, notwithstanding any
judgment in a currency other than the specified currency, be discharged only to the extent that on
the Business Day following receipt by any Holder of Guaranteed Obligations (including the
Administrative Agent), as the case may be, of any sum adjudged to be so due in such other currency
such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, may
in accordance with normal, reasonable banking procedures purchase the specified currency with such
other currency. If the amount of the specified currency so purchased is less than the sum
originally due to such Holder of Guaranteed Obligations (including the Administrative Agent), as
the case may be, in the specified currency, each Guarantor agrees, to the fullest extent that it
may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify
such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be,
against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum
originally due to any Holder of Guaranteed Obligations (including the Administrative Agent), as the
case may be, in the specified currency and (b) amounts shared with other Holders of Guaranteed
Obligations as a result of allocations of such excess as a disproportionate payment to such other
Holder of Guaranteed Obligations under Section 2.18 of the Credit Agreement, such Holder of
Guaranteed Obligations (including the Administrative Agent), as the case may be, agrees, by
accepting the benefits hereof, to remit such excess to such Guarantor.

          SECTION 25. Swiss Limitation Language for Swiss Subsidiary Guarantors.

     (a) If and to the extent that a payment in fulfilling the joint and several obligations
under Section 3 of this Guaranty of any Swiss Subsidiary Guarantor would, at the time
payment is due, under Swiss law and practice (inter alia, prohibiting capital repayments or
restricting profit distributions) not be permitted, in particular if and to the extent that
such Swiss Subsidiary Guarantor guarantees obligations other than obligations of one of its
subsidiaries (i.e. obligations

12

 

of its direct or indirect parent companies (up-stream guarantee) or sister companies
(cross-stream guarantee)) (such obligations, “Restricted Obligations”), then such
obligations and payment amount shall from time to time be limited to the amount permitted to
be paid; provided that such limited amount shall at no time be less than such Swiss
Subsidiary Guarantor’s profits and reserves available for the distribution as dividends
(being the balance sheet profits and any reserves available for this purpose, in each case
in accordance with art. 675(2) and art. 671(1) and (2), no. 3, of the Swiss Federal Code of
Obligations) at the time or times payment under or pursuant to Section 3 of this
Guaranty is requested from such Swiss Subsidiary Guarantor, and further provided that such
limitation (as may apply from time to time or not) shall not (generally or definitively)
free such Swiss Subsidiary Guarantor from payment obligations hereunder in excess thereof,
but merely postpone the payment date therefor until such times as payment is again permitted
notwithstanding such limitation.

     (b) In respect of Restricted Obligations, each Swiss Subsidiary Guarantor shall:

     (i) if and to the extent required by applicable law in force at the relevant
time:

          (A) subject to any applicable double taxation treaty, deduct Swiss anticipatory
tax (Verrechnungssteuer; Swiss Withholding Tax) at the rate of 35% (or such other
rate as in force from time to time) from any payment made by it in respect of
Restricted Obligations;

          (B) pay any such deduction to the Swiss Federal Tax Administration; and

          (C) notify (or ensure that the Company notifies) the Administrative Agent that
such a deduction has been made and provide the Administrative Agent with evidence
that such a deduction has been paid to the Swiss Federal Tax Administration; and

     (ii) to the extent such a deduction is made, not be obliged to either gross-up
in accordance with Section 18 of this Guaranty in relation to any such payment made
by it in respect of Restricted Obligations unless grossing-up is permitted under the
laws of Switzerland then in force.

     (c) If and to the extent requested by the Administrative Agent and if and to the extent
this is from time to time required under Swiss law (restricting profit distributions), in
order to allow the Administrative Agent to obtain a maximum benefit under the joint and
several liabilities obligations under Section 3 of this Guaranty, each Swiss Subsidiary
Guarantor undertakes to promptly implement all such measures and/or to promptly obtain the
fulfillment of all prerequisites allowing it to promptly make the requested payment(s)
hereunder from time to time, including the following:

     (i) preparation of an up-to-date audited balance sheet of such Swiss Subsidiary
Guarantor;

     (ii) confirmation of the auditors of such Swiss Subsidiary Guarantor that the
relevant amount represents the maximum freely distributable profits;

13

 

     (iii) approval by a shareholders’ or a quotaholders’ meeting (as applicable) of
such Swiss Subsidiary Guarantor of the resulting profit distribution; and

     (d) all such other measures necessary or useful to allow such Swiss Subsidiary
Guarantor to make the payments agreed hereunder with a minimum of limitations.

          SECTION 26. Dutch Limitation Language for Dutch Loan Parties. The Guaranteed
Obligations of any Guarantor organized under the laws of the Netherlands and any Guarantor being a
direct or indirect subsidiary of such Guarantor will not extend to include any obligations or
liabilities for so long as this would constitute a breach of the financial assistance prohibitions
contained in section 2:98c or 2:207c of the Dutch Civil Code.

          SECTION 27. Counterparts. This Guaranty may be executed in any number of counterparts
and by the parties on separate counterparts. Each counterpart constitutes the deed of each party
who has executed and delivered that counterpart.

          SECTION 28. Termination of Guaranty. The obligations of any Guarantor under this
Guaranty shall automatically terminate in accordance with Section 9.14 of the Credit Agreement.

Remainder of Page Intentionally Blank.

14

 

     IN WITNESS WHEREOF, each of the Initial Guarantors has caused this Guaranty to be duly
executed by its authorized officer as of the day and year first above written.

	 	 	 	 	 
	 	[GUARANTORS]

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

15

 

Acknowledged and Agreed

as of the date first written above:

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

16

 

ANNEX I TO GUARANTY

          Reference is hereby made to the Guaranty (the “Guaranty”) made as of October 21, 2011,
by and among [GUARANTORS TO COME] (the “Initial Guarantors” and along with any additional
Subsidiaries of the Company, which become parties thereto and together with the undersigned, the
“Guarantors”) in favor of the Administrative Agent, for the ratable benefit of the Holders
of Guaranteed Obligations, under the Credit Agreement. Capitalized terms used herein and not
defined herein shall have the meanings given to them in the Guaranty. By its execution below, the
undersigned [NAME OF NEW GUARANTOR], a [corporation] [partnership] [limited liability company] (the
“New Guarantor”), agrees to become, and does hereby become, a Guarantor under the Guaranty
and agrees to be bound by such Guaranty as if originally a party thereto. By its execution below,
the undersigned represents and warrants as to itself that all of the representations and warranties
contained in Section 2 of the Guaranty are true and correct in all respects as of the date hereof.

          IN WITNESS WHEREOF, New Guarantor has executed and delivered this Annex I counterpart to the
Guaranty as of this __________ day of _________, 20__.

	 	 	 	 	 
	 	[NAME OF NEW GUARANTOR]

 	 
	 	By:  	 	 
	 	Its: 	 	 
	 	 	 	 
	 

 

 

EXHIBIT H-1

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Lenders That Are Not Partnerships And Are Not

Disregarded Entities For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement dated as of October 21, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Vistaprint Limited (the “Company”), Vistaprint N.V., the Subsidiary Borrowers from time to
time party thereto, the Lenders from time to time party thereto (collectively with the Company, the
“Borrowers”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

          Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any
Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is
not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of any Loan Party within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is
not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C)
of the Code and (v) the interest payments in question are not effectively connected with the
undersigned’s conduct of a U.S. trade or business.

          The undersigned has furnished the Administrative Agent and the Borrowers with a certificate of
its non-U.S. person status on IRS Form W-8BEN. By executing this certificate, the undersigned
agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrowers and the Administrative Agent and (2) the undersigned shall have at
all times furnished the Borrowers and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date: __________, 20[__]

 

 

EXHIBIT H-2

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Lenders That Are Partnerships Or Are Disregarded

Entities For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement dated as of October 21, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Vistaprint Limited (the “Company”), Vistaprint N.V., the Subsidiary Borrowers from time to
time party thereto, the Lenders from time to time party thereto (collectively with the Company, the
“Borrowers”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

          Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing
such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are
the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii)
with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned
nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered
into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of
the Code, (iv) none of its partners/members is a ten percent shareholder of any Loan Party within
the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled
foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and
(vi) the interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

          The undersigned has furnished the Administrative Agent and the Borrowers with IRS Form W-8IMY
accompanied by an IRS Form W-8BEN from each of its partners/members claiming the portfolio interest
exemption; provided that, if the undersigned is a disregarded entity for U.S. federal
income tax purposes, the appropriate tax forms have been furnished by the first direct or indirect
beneficial owner of the undersigned that is not a disregarded entity. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform the Borrowers and the Administrative Agent and
(2) the undersigned shall have at all times furnished the Borrowers and the Administrative Agent
with a properly completed and currently effective certificate in either the calendar year in which
each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date: __________, 20[__]

 

 

EXHIBIT H-3

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Not Partnerships Or Are

Disregarded Entities For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement dated as of October 21, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Vistaprint Limited (the “Company”), Vistaprint N.V., the Subsidiary Borrowers from time to
time party thereto, the Lenders from time to time party thereto (collectively with the Company, the
“Borrowers”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

          Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the participation in respect of
which it is providing this certificate, (ii) it is not a bank within the meaning of Section
881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Loan Party within the
meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation
related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest
payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade
or business.

          The undersigned has furnished its participating Lender with a certificate of its non- U.S.
person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a
properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date: __________, 20[__]

 

 

EXHIBIT H-4

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Partnerships Or Are Disregarded

Entities For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement dated as of October 21, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Vistaprint Limited (the “Company”), Vistaprint N.V., the Subsidiary Borrowers from time to
time party thereto, the Lenders from time to time party thereto (collectively with the Company, the
“Borrowers”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

          Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the participation in respect of which it is
providing this certificate, (ii) its partners/members are the sole beneficial owners of such
participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its partners/members is a ten percent shareholder of any Loan Party within the meaning
of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the
interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

          The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption;
provided that, if the undersigned is a disregarded entity for U.S. federal income tax
purposes, the appropriate tax forms have been furnished by the first direct or indirect beneficial
owner of the undersigned that is not a disregarded entity. By executing this certificate, the
undersigned agrees that (1) if the information provided on this certificate changes, the
undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date: __________, 20[__]

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