Document:

exv10w1

 

EXHIBIT 10.1

Published CUSIP Number: 46636HAD9

Revolving Credit CUSIP Number: 46636HAE7

Term Loan CUSIP Number: 46636HAF4

 

CREDIT AGREEMENT

dated as of December 15, 2006

by and among

JACK IN THE BOX INC.,

as Borrower,

the Lenders referred to herein,

as Lenders,

MORGAN STANLEY SENIOR FUNDING, INC.

as Syndication Agent,

BANK OF AMERICA, N.A.,

COOPERATIEVE CENTRALE

RAIFFEISEN-BOERENLEENBANK

B.A. “RABOBANK INTERNATIONAL,”

NEW YORK BRANCH,

and ROYAL BANK OF CANADA,

as Documentation Agents

and

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent

MORGAN STANLEY SENIOR FUNDING, INC.

as Lead Arranger

and

WACHOVIA CAPITAL MARKETS, LLC,

as Lead Arranger and Sole Book Manager

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 	 	ARTICLE I
	 	 	 	 
	 	 	DEFINITIONS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 1.1
	 	Definitions

	 	 	1	 
	 	 	 
	 	 	 	 
	SECTION 1.2
	 	Other Definitions and Provisions

	 	 	20	 
	 	 	 
	 	 	 	 
	SECTION 1.3
	 	Accounting Terms

	 	 	20	 
	 	 	 
	 	 	 	 
	SECTION 1.4
	 	UCC Terms

	 	 	20	 
	 	 	 
	 	 	 	 
	SECTION 1.5
	 	Rounding

	 	 	20	 
	 	 	 
	 	 	 	 
	SECTION 1.6
	 	References to Agreement and Laws

	 	 	21	 
	 	 	 
	 	 	 	 
	SECTION 1.7
	 	Times of Day

	 	 	21	 
	 	 	 
	 	 	 	 
	SECTION 1.8
	 	Letter of Credit Amounts

	 	 	21	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE II
	 	 	 	 
	 	 	REVOLVING CREDIT FACILITY
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 2.1
	 	Revolving Credit Loans

	 	 	21	 
	 	 	 
	 	 	 	 
	SECTION 2.2
	 	Swingline Loans

	 	 	21	 
	 	 	 
	 	 	 	 
	SECTION 2.3
	 	Procedure for Advances of Revolving Credit and Swingline Loans

	 	 	23	 
	 	 	 
	 	 	 	 
	SECTION 2.4
	 	Repayment of Revolving Credit and Swingline Loans

	 	 	24	 
	 	 	 
	 	 	 	 
	SECTION 2.5
	 	Permanent Reduction of the Revolving Credit Commitment

	 	 	25	 
	 	 	 
	 	 	 	 
	SECTION 2.6
	 	Termination of Revolving Credit Facility

	 	 	25	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE III
	 	 	 	 
	 	 	LETTER OF CREDIT FACILITY
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 3.1
	 	L/C Commitment

	 	 	26	 
	 	 	 
	 	 	 	 
	SECTION 3.2
	 	Procedure for Issuance of Letters of Credit

	 	 	26	 

i

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	SECTION 3.3
	 	Commissions and Other Charges

	 	 	27	 
	 	 	 
	 	 	 	 
	SECTION 3.4
	 	L/C Participations

	 	 	27	 
	 	 	 
	 	 	 	 
	SECTION 3.5
	 	Reimbursement Obligation of the Borrower

	 	 	28	 
	 	 	 
	 	 	 	 
	SECTION 3.6
	 	Obligations Absolute

	 	 	29	 
	 	 	 
	 	 	 	 
	SECTION 3.7
	 	Effect of Application

	 	 	30	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE IV
	 	 	 	 
	 	 	TERM LOAN FACILITY
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 4.1
	 	Term Loan

	 	 	30	 
	 	 	 
	 	 	 	 
	SECTION 4.2
	 	Procedure for Advance of Term Loan Draws

	 	 	30	 
	 	 	 
	 	 	 	 
	SECTION 4.3
	 	Repayment of Term Loan

	 	 	31	 
	 	 	 
	 	 	 	 
	SECTION 4.4
	 	Prepayments of Term Loan

	 	 	32	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE V
	 	 	 	 
	 	 	GENERAL LOAN PROVISIONS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 5.1
	 	Interest

	 	 	34	 
	 	 	 
	 	 	 	 
	SECTION 5.2
	 	Notice and Manner of Conversion or Continuation of Loans

	 	 	37	 
	 	 	 
	 	 	 	 
	SECTION 5.3
	 	Fees

	 	 	37	 
	 	 	 
	 	 	 	 
	SECTION 5.4
	 	Manner of Payment

	 	 	38	 
	 	 	 
	 	 	 	 
	SECTION 5.5
	 	Evidence of Debt

	 	 	39	 
	 	 	 
	 	 	 	 
	SECTION 5.6
	 	Adjustments

	 	 	40	 
	 	 	 
	 	 	 	 
	SECTION 5.7
	 	Obligations of Lenders

	 	 	40	 
	 	 	 
	 	 	 	 
	SECTION 5.8
	 	Changed Circumstances

	 	 	41	 
	 	 	 
	 	 	 	 
	SECTION 5.9
	 	Indemnity

	 	 	42	 
	 	 	 
	 	 	 	 
	SECTION 5.10
	 	Increased Costs

	 	 	42	 
	 	 	 
	 	 	 	 
	SECTION 5.11
	 	Taxes

	 	 	44	 
	 	 	 
	 	 	 	 
	SECTION 5.12
	 	Replacement of Lenders

	 	 	46	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	SECTION 5.13
	 	Security

	 	 	47	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VI
	 	 	 	 
	 	 	CLOSING; CONDITIONS OF CLOSING AND BORROWING
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 6.1
	 	Closing

	 	 	47	 
	 	 	 
	 	 	 	 
	SECTION 6.2
	 	Conditions to Closing and Initial Extensions of Credit

	 	 	47	 
	 	 	 
	 	 	 	 
	SECTION 6.3
	 	Conditions to All Extensions of Credit

	 	 	50	 
	 	 	 
	 	 	 	 
	SECTION 6.4
	 	Conditions to Delayed Term Loan Draw

	 	 	51	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VII
	 	 	 	 
	 	 	REPRESENTATIONS AND WARRANTIES OF THE BORROWER
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 7.1
	 	Representations and Warranties

	 	 	51	 
	 	 	 
	 	 	 	 
	SECTION 7.2
	 	Survival of Representations and Warranties, Etc.

	 	 	58	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VIII
	 	 	 	 
	 	 	FINANCIAL INFORMATION AND NOTICES
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 8.1
	 	Financial Statements and Projections

	 	 	59	 
	 	 	 
	 	 	 	 
	SECTION 8.2
	 	Officer’s Compliance Certificate

	 	 	60	 
	 	 	 
	 	 	 	 
	SECTION 8.3
	 	Annual Accountants’ Certificate

	 	 	60	 
	 	 	 
	 	 	 	 
	SECTION 8.4
	 	Other Reports

	 	 	61	 
	 	 	 
	 	 	 	 
	SECTION 8.5
	 	Notice of Litigation and Other Matters

	 	 	61	 
	 	 	 
	 	 	 	 
	SECTION 8.6
	 	Extension of Time

	 	 	62	 
	 	 	 
	 	 	 	 
	SECTION 8.7
	 	Accuracy of Information

	 	 	62	 
	 	 	 
	 	 	 	 
	SECTION 8.8
	 	Public/Private Designation for Borrower Materials

	 	 	62	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE IX
	 	 	 	 
	 	 	AFFIRMATIVE COVENANTS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 9.1
	 	Preservation of Corporate Existence and Related Matters

	 	 	63	 

iii 

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	SECTION 9.2
	 	Maintenance of Property

	 	 	63	 
	 	 	 
	 	 	 	 
	SECTION 9.3
	 	Insurance

	 	 	63	 
	 	 	 
	 	 	 	 
	SECTION 9.4
	 	Accounting Methods and Financial Records

	 	 	63	 
	 	 	 
	 	 	 	 
	SECTION 9.5
	 	Compliance With Laws and Approvals

	 	 	63	 
	 	 	 
	 	 	 	 
	SECTION 9.6
	 	Environmental Laws

	 	 	63	 
	 	 	 
	 	 	 	 
	SECTION 9.7
	 	Compliance with ERISA

	 	 	64	 
	 	 	 
	 	 	 	 
	SECTION 9.8
	 	Visits and Inspections

	 	 	64	 
	 	 	 
	 	 	 	 
	SECTION 9.9
	 	Additional Subsidiaries

	 	 	64	 
	 	 	 
	 	 	 	 
	SECTION 9.10
	 	Use of Proceeds

	 	 	66	 
	 	 	 
	 	 	 	 
	SECTION 9.12
	 	Further Assurances

	 	 	67	 
	 	 	 
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE X
	 	 	 	 
	 	 	FINANCIAL COVENANTS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 10.1
	 	Maximum Leverage Ratio

	 	 	67	 
	 	 	 
	 	 	 	 
	SECTION 10.2
	 	Minimum Fixed Charge Coverage Ratio

	 	 	67	 
	 	 	 
	 	 	 	 
	SECTION 10.3
	 	Maximum Capital Expenditures

	 	 	68	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE XI
	 	 	 	 
	 	 	NEGATIVE COVENANTS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 11.1
	 	Limitations on Debt

	 	 	68	 
	 	 	 
	 	 	 	 
	SECTION 11.2
	 	Limitations on Liens

	 	 	70	 
	 	 	 
	 	 	 	 
	SECTION 11.3
	 	Limitations on Loans, Advances, Investments and Acquisitions

	 	 	72	 
	 	 	 
	 	 	 	 
	SECTION 11.4
	 	Limitations on Mergers and Liquidation

	 	 	74	 
	 	 	 
	 	 	 	 
	SECTION 11.5
	 	Limitations on Sale of Assets

	 	 	75	 
	 	 	 
	 	 	 	 
	SECTION 11.6
	 	Limitations on Dividends and Distributions

	 	 	75	 
	 	 	 
	 	 	 	 
	SECTION 11.7
	 	Limitations on Exchange and Issuance of Capital Stock

	 	 	76	 
	 	 	 
	 	 	 	 
	SECTION 11.8
	 	Transactions with Affiliates

	 	 	77	 

iv

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	SECTION 11.9
	 	Certain Accounting Changes; Organizational Documents

	 	 	77	 
	 	 	 
	 	 	 	 
	SECTION 11.10
	 	Amendments; Payments and Prepayments of Subordinated Debt

	 	 	77	 
	 	 	 
	 	 	 	 
	SECTION 11.11
	 	Restrictive Agreements

	 	 	77	 
	 	 	 
	 	 	 	 
	SECTION 11.12
	 	Nature of Business

	 	 	77	 
	 	 	 
	 	 	 	 
	SECTION 11.13
	 	Impairment of Security Interests

	 	 	77	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE XII
	 	 	 	 
	 	 	DEFAULT AND REMEDIES
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 12.1
	 	Events of Default

	 	 	78	 
	 	 	 
	 	 	 	 
	SECTION 12.2
	 	Remedies

	 	 	80	 
	 	 	 
	 	 	 	 
	SECTION 12.3
	 	Rights and Remedies Cumulative; Non-Waiver; etc.

	 	 	81	 
	 	 	 
	 	 	 	 
	SECTION 12.4
	 	Crediting of Payments and Proceeds

	 	 	81	 
	 	 	 
	 	 	 	 
	SECTION 12.5
	 	Administrative Agent May File Proofs of Claim

	 	 	82	 
	 	 	 
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE XIII
	 	 	 	 
	 	 	THE ADMINISTRATIVE AGENT
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 13.1
	 	Appointment and Authority

	 	 	83	 
	 	 	 
	 	 	 	 
	SECTION 13.2
	 	Rights as a Lender

	 	 	83	 
	 	 	 
	 	 	 	 
	SECTION 13.3
	 	Exculpatory Provisions

	 	 	83	 
	 	 	 
	 	 	 	 
	SECTION 13.4
	 	Reliance by the Administrative Agent

	 	 	84	 
	 	 	 
	 	 	 	 
	SECTION 13.5
	 	Delegation of Duties

	 	 	84	 
	 	 	 
	 	 	 	 
	SECTION 13.6
	 	Resignation of Administrative Agent

	 	 	85	 
	 	 	 
	 	 	 	 
	SECTION 13.7
	 	Non-Reliance on Administrative Agent and Other Lenders

	 	 	86	 
	 	 	 
	 	 	 	 
	SECTION 13.8
	 	No Other Duties, etc.

	 	 	86	 
	 	 	 
	 	 	 	 
	SECTION 13.9
	 	Collateral and Guaranty Matters

	 	 	86	 

v

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 	 	ARTICLE XIV
	 	 	 	 
	 	 	MISCELLANEOUS
	 	 	 	 
	 	 	 
	 	 	 	 
	SECTION 14.1
	 	Notices

	 	 	87	 
	 	 	 
	 	 	 	 
	SECTION 14.2
	 	Expenses; Indemnity

	 	 	88	 
	 	 	 
	 	 	 	 
	SECTION 14.3
	 	Right of Set-off

	 	 	90	 
	 	 	 
	 	 	 	 
	SECTION 14.4
	 	Governing Law

	 	 	91	 
	 	 	 
	 	 	 	 
	SECTION 14.5
	 	Jurisdiction and Venue

	 	 	91	 
	 	 	 
	 	 	 	 
	SECTION 14.6
	 	Waiver of Jury Trial

	 	 	92	 
	 	 	 
	 	 	 	 
	SECTION 14.7
	 	Reversal of Payments

	 	 	92	 
	 	 	 
	 	 	 	 
	SECTION 14.8
	 	Injunctive Relief

	 	 	92	 
	 	 	 
	 	 	 	 
	SECTION 14.9
	 	Accounting Matters

	 	 	92	 
	 	 	 
	 	 	 	 
	SECTION 14.10
	 	Successors and Assigns; Participations

	 	 	93	 
	 	 	 
	 	 	 	 
	SECTION 14.11
	 	Amendments, Waivers and Consents

	 	 	96	 
	 	 	 
	 	 	 	 
	SECTION 14.12
	 	Confidentiality

	 	 	97	 
	 	 	 
	 	 	 	 
	SECTION 14.13
	 	Performance of Duties

	 	 	98	 
	 	 	 
	 	 	 	 
	SECTION 14.14
	 	All Powers Coupled with Interest

	 	 	98	 
	 	 	 
	 	 	 	 
	SECTION 14.15
	 	Survival of Indemnities

	 	 	98	 
	 	 	 
	 	 	 	 
	SECTION 14.16
	 	Titles and Captions

	 	 	98	 
	 	 	 
	 	 	 	 
	SECTION 14.17
	 	Severability of Provisions

	 	 	98	 
	 	 	 
	 	 	 	 
	SECTION 14.18
	 	Counterparts; Integration; Effectiveness

	 	 	99	 
	 	 	 
	 	 	 	 
	SECTION 14.19
	 	Electronic Execution of Assignments

	 	 	99	 
	 	 	 
	 	 	 	 
	SECTION 14.20
	 	Term of Agreement

	 	 	99	 
	 	 	 
	 	 	 	 
	SECTION 14.21
	 	Advice of Counsel

	 	 	99	 
	 	 	 
	 	 	 	 
	SECTION 14.22
	 	USA Patriot Act

	 	 	99	 
	 	 	 
	 	 	 	 
	SECTION 14.23
	 	Independent Effect of Covenants

	 	 	100	 

vi

 

EXHIBITS AND SCHEDULES

EXHIBITS

	 	 	 	 	 
	Exhibit A-1

	 	-
	 	Form of Revolving Credit Note
	 
	 	 	 	 
	Exhibit A-2

	 	-	 	Form of Swingline Note
	 
	 	 	 	 
	Exhibit A-3

	 	-
	 	Form of Term Note
	 
	 	 	 	 
	Exhibit B

	 	-
	 	Form of Notice of Borrowing
	 
	 	 	 	 
	Exhibit C

	 	-
	 	Form of Notice of Account Designation
	 
	 	 	 	 
	Exhibit D

	 	-
	 	Form of Notice of Prepayment
	 
	 	 	 	 
	Exhibit E

	 	-
	 	Form of Notice of Conversion/Continuation
	 
	 	 	 	 
	Exhibit F

	 	-
	 	Form of Officer’s Compliance Certificate
	 
	 	 	 	 
	Exhibit G

	 	-
	 	Form of Assignment and Assumption
	 
	 	 	 	 
	Exhibit H

	 	-
	 	Form of Guaranty Agreement
	 
	 	 	 	 
	Exhibit I

	 	-
	 	Form of Collateral Agreement
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	Schedule 1.1(a)

	 	-	 	Existing Letters of Credit
	 
	 	 	 	 
	Schedule 1.1(b)

	 	-
	 	Unrestricted Subsidiaries
	 
	 	 	 	 
	Schedule 1.1(c)

	 	-	 	Restaurant Units Held for Resale
	 
	 	 	 	 
	Schedule 7.1(a)

	 	-
	 	Jurisdictions of Organization and Qualification
	 
	 	 	 	 
	Schedule 7.1(b)

	 	-
	 	Subsidiaries and Capitalization
	 
	 	 	 	 
	Schedule 7.1(i)

	 	-
	 	ERISA Plans
	 
	 	 	 	 
	Schedule 7.1(l)

	 	-
	 	Material Contracts
	 
	 	 	 	 
	Schedule 7.1(t)

	 	-
	 	Debt and Guaranty Obligations
	 
	 	 	 	 
	Schedule 7.1(u)

	 	-
	 	Litigation
	 
	 	 	 	 
	Schedule 11.1(b)

	 	-	 	Existing Hedging Agreements
	 
	 	 	 	 
	Schedule 11.1(c)

	 	-
	 	Permitted Debt
	 
	 	 	 	 
	Schedule 11.2

	 	-
	 	Existing Liens
	 
	 	 	 	 
	Schedule 11.3

	 	-
	 	Existing Loans, Advances and Investments

i

 

     CREDIT AGREEMENT, dated as of the 15th day of December, 2006, by and among JACK IN THE
BOX INC., a Delaware corporation, as Borrower (the “Borrower”), the lenders who are or may
become a party to this Agreement, as Lenders (the “Lenders”), MORGAN STANLEY SENIOR
FUNDING, INC., as Syndication Agent, BANK OF AMERICA, N.A., COOPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A. “RABOBANK INTERNATIONAL,” NEW YORK BRANCH, and ROYAL BANK OF CANADA,
as Documentation Agents and WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as
Administrative Agent for the Lenders (the “Administrative Agent”).

STATEMENT OF PURPOSE

     The Borrower has requested, and the Lenders have agreed, to extend certain credit facilities
to the Borrower on the terms and conditions of this Agreement.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties hereto, such parties hereby agree as follows:

ARTICLE I

DEFINITIONS

     SECTION 1.1 Definitions. The following terms when used in this Agreement shall have
the meanings assigned to them below:

     “Administrative Agent” means Wachovia in its capacity as Administrative Agent
hereunder, and any successor thereto appointed pursuant to Section 13.6.

     “Administrative Agent’s Office” means the office of the Administrative Agent specified
in or determined in accordance with the provisions of Section 14.1(d).

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

     “Affiliate” means, with respect to any Person, any other Person (other than a
Subsidiary of the Borrower) which directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, such first Person or any of its
Subsidiaries. The term “control” means (a) the power to vote five percent (5%) or more of the
securities or other equity interests of a Person having ordinary voting power, or (b) the
possession, directly or indirectly, of any other power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities, by contract or
otherwise.

     “Aggregate Commitment” means the aggregate amount of the Lenders’ Commitments
hereunder, as such amount may be reduced or otherwise modified at any time or from time to time
pursuant to the terms hereof. On the Closing Date, the Aggregate Commitment shall be Six Hundred
Twenty-Five Million Dollars ($625,000,000).

     “Agreement” means this Credit Agreement, as further amended, restated, supplemented or
otherwise modified from time to time.

 

 

     “Applicable Law” means all applicable provisions of constitutions, laws, statutes,
ordinances, rules, treaties, regulations, permits, licenses, approvals, interpretations and orders
of courts or Governmental Authorities and all orders and decrees of all courts and arbitrators.

     “Applicable Margin” means the applicable margin with respect to the Loans as set forth
in Section 5.1(c).

     “Application” means an application, in the form specified by the Issuing Lender from
time to time, requesting the Issuing Lender to issue a Letter of Credit.

     “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     “Arranger” means either of Wachovia Capital Markets, LLC, in its capacity as lead
arranger and sole book manager or Morgan Stanley Senior Funding, Inc., in its capacity as lead
arranger.

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

     “Base Rate” means, at any time, the higher of (a) the Prime Rate and (b) the Federal
Funds Rate plus 1/2 of 1%; each change in the Base Rate shall take effect simultaneously
with the corresponding change or changes in the Prime Rate or the Federal Funds Rate.

     “Base Rate Loan” means any Loan bearing interest at a rate based upon the Base Rate.

     “Borrower” has the meaning set forth in the preamble hereto.

     “Business Day” means (a) for all purposes other than as set forth in clause (b) below,
any day other than a Saturday, Sunday or legal holiday on which banks in Charlotte, North Carolina
and New York, New York, are open for the conduct of their commercial banking business, and (b) with
respect to all notices and determinations in connection with, and payments of principal and
interest on, any LIBOR Rate Loan, any day that is a Business Day described in clause (a) and that
is also a day for trading by and between banks in Dollar deposits in the London interbank market.

     “Calculation Date” has the meaning assigned thereto in Section 5.1(c).

     “Capital Asset” means, with respect to the Borrower and its Subsidiaries, any asset
that should, in accordance with GAAP, be classified and accounted for as a capital asset on a
Consolidated balance sheet of the Borrower and its Subsidiaries.

     “Capital Expenditures” means with respect to the Borrower and its Subsidiaries for any
period, the aggregate of all items classified as capital expenditures in accordance with GAAP;
provided that for purposes of Section 10.3, “Capital Expenditures” shall exclude the
aggregate amount of any such expenditures consisting of or associated with Permitted Acquisitions
during

2

 

such period and include the aggregate cost of Capital Assets acquired by Capital Lease during
such period.

     “Capital Lease” means any lease of any property by the Borrower or any of its
Restricted Subsidiaries, as lessee, that should, in accordance with GAAP, be classified and
accounted for as a capital lease on a Consolidated balance sheet of the Borrower and its
Subsidiaries.

     “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case
of an association or business entity, any and all shares, interests, participations, rights or
other equivalents (however designated) of capital stock, (c) in the case of a partnership,
partnership interests (whether general or limited), (d) in the case of a limited liability company,
membership interests and (e) any other ownership interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distributions of assets of, the
issuing Person (other than any franchise agreements).

     “Change in Control” has the meaning assigned thereto in Section 12.1(g).

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority.

     “Closing Date” means the date of this Agreement or such later Business Day upon which
each condition described in Section 6.2 shall be satisfied or waived in all respects in a manner
acceptable to the Administrative Agent, in its sole discretion.

     “Code” means the Internal Revenue Code of 1986, and the rules and regulations
thereunder, each as amended or modified from time to time.

     “Collateral” means the collateral security for the Obligations pledged or granted
pursuant to the Security Documents.

     “Collateral Agreement” means the Collateral Agreement dated as of the date hereof,
entered into by the Borrower, each of the Restricted Subsidiaries that is a Domestic Subsidiary
and, to the extent applicable, any other Person that joins the Collateral Agreement after the
Closing Date, in favor of the Administrative Agent and the Secured Parties, substantially in the
form of Exhibit I, as amended, restated, supplemented or modified from time to time hereafter.

     “Commitment” means, as to any Lender, the sum of such Lender’s Revolving Credit
Commitment and Term Loan Commitment, as applicable, as set forth in the Register, as such
Commitment may be reduced or otherwise modified at any time or from time to time pursuant to the
terms hereof.

     “Commitment Fee Rate” has the meaning assigned thereto in Section 5.3(a).

3

 

     “Commitment Percentage” means, as to any Lender at any time, the ratio of (a) the
amount of the Commitment of such Lender to (b) the Aggregate Commitment of all the Lenders.

     “Consolidated” means, when used with reference to financial statements or financial
statement items of the Borrower and its Subsidiaries, such statements or items on a consolidated
basis in accordance with applicable principles of consolidation under GAAP.

     “Credit Facility” means, collectively, the Revolving Credit Facility, the Swingline
Facility, the L/C Facility and the Term Loan Facility.

     “Credit Parties” means, collectively, the Borrower and the Guarantors.

     “Debt” means, with respect to the Borrower and its Subsidiaries at any date and
without duplication, the sum of the following calculated in accordance with GAAP: (a) all
liabilities, obligations and indebtedness for borrowed money including, but not limited to,
obligations evidenced by bonds, debentures, notes or other similar instruments of any such Person,
(b) all obligations to pay the deferred purchase price of property or services of any such Person
(including, without limitation, all obligations under non-competition agreements), except trade
payables arising in the ordinary course of business not more than ninety (90) days past due (unless
being disputed in good faith), (c) all obligations of any such Person as lessee under Capital
Leases, (d) all liabilities and obligations of any other Person which would be Debt under this
definition if incurred by the Borrower or any of its Subsidiaries which are secured by a Lien on
any asset of the Borrower and its Restricted Subsidiaries, (e) all Guaranty Obligations of any such
Person, (f) all obligations, contingent or otherwise, of any such Person relative to the face
amount of letters of credit, whether or not drawn, including, without limitation, any Reimbursement
Obligation, and banker’s acceptances issued for the account of any such Person, (g) all obligations
of any such Person to redeem, repurchase, exchange, defease or otherwise make payments in respect
of Capital Stock of such Person, (h) the Termination Value of any Hedging Agreements, (i) all
outstanding payment obligations of any such Person with respect to Synthetic Leases and (j) the
outstanding attributed principal amount incurred as an obligation of any such Person under any
asset securitization program. The parties hereto agree that notwithstanding anything to the
contrary in this definition, the term “Debt” as used in Section 11.1 shall refer only to Debt of
the Borrower and its Restricted Subsidiaries.

     “Default” means any of the events specified in Section 12.1 which with the passage of
time, the giving of notice or any other condition, would constitute an Event of Default.

     “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the
Revolving Credit Loans, the Term Loan, participations in L/C Obligations or participations in
Swingline Loans required to be funded by it hereunder within one Business Day of the date required
to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or
any other Lender any other amount required to be paid by it hereunder within one Business Day of
the date when due, unless such amount is the subject of a good faith dispute, or (c) has been
deemed insolvent or become the subject of a bankruptcy or insolvency proceeding.

     “Delayed Term Loan Draw” has the meaning assigned thereto in Section 4.1.

     “Delayed Term Loan Funding Deadline” has the meaning assigned thereto in Section 4.1.

4

 

     “Dollars” or “$” means, unless otherwise qualified, dollars in lawful currency of the
United States.

     “Domestic Subsidiary” means any Subsidiary organized under the laws of any political
subdivision of the United States.

     “EBITDA” means, for any period, the sum of the following determined on a Consolidated
basis, without duplication, for the Borrower and its Subsidiaries in accordance with GAAP: (a) Net
Income for such period plus (b) the sum of the following to the extent deducted in
determining Net Income: (i) income and franchise taxes, (ii) Interest Expense, (iii) amortization,
depreciation and other non-cash charges (including, without limitation, any financing fees to be
written off by the Borrower in connection with the repayment of the Debt under the Existing Credit
Agreement), and (iv) any other non-cash nonrecurring or extraordinary losses approved by the
Administrative Agent in its reasonable discretion; less (c) any nonrecurring or
extraordinary gains.

     “EBITDAR” means, for any period, the sum of the following determined on a Consolidated
basis, without duplication, for the Borrower and its Subsidiaries in accordance with GAAP: (a)
EBITDA for such period, plus (b) Rental Expense for such period.

     “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved
Fund, and (d) any other Person (other than a natural person) approved by (i) the Administrative
Agent, (ii) in the case of any assignment of a Revolving Credit Commitment, the Swingline Lender
and the Issuing Lender, and (iii) unless a Default or Event of Default has occurred and is
continuing, the Borrower (each such approval not to be unreasonably withheld or delayed);
provided that notwithstanding the foregoing, “Eligible Assignee” shall not include the
Borrower or any of the Borrower’s Affiliates or Subsidiaries.

     “Employee Benefit Plan” means any employee benefit plan within the meaning of Section
3(3) of ERISA which (a) is sponsored, maintained, contributed to, or required to be contributed to
by the Borrower or any ERISA Affiliate or (b) has at any time within the preceding six (6) years
been sponsored, maintained, contributed to, or required to be contributed to by the Borrower or any
current or former ERISA Affiliate.

     “Environmental Claims” means any and all administrative, regulatory or judicial
actions, suits, demands, demand letters, claims, liens, accusations, allegations, notices of
noncompliance or violation, investigations (other than internal reports prepared by any Person in
the ordinary course of business and not in response to any third party action or request of any
kind) or proceedings relating in any way to any actual or alleged violation of or liability under
any Environmental Law or relating to any permit issued, or any approval given, under any such
Environmental Law, including, without limitation, any and all claims by Governmental Authorities
for enforcement, cleanup, removal, response, remedial or other actions or damages, contribution,
indemnification cost recovery, compensation or injunctive relief resulting from Hazardous Materials
or arising from alleged injury or threat of injury to human health or the environment.

     “Environmental Laws” means any and all federal, foreign, state, provincial and local
laws, statutes, ordinances, rules, regulations, permits, licenses, approvals, interpretations and
orders of courts or Governmental Authorities, relating to the protection of human health or the
environment,

5

 

including, but not limited to, requirements pertaining to the manufacture, processing,
distribution, use, treatment, storage, disposal, transportation, handling, reporting, licensing,
permitting, investigation or remediation of Hazardous Materials.

     “ERISA” means the Employee Retirement Income Security Act of 1974, and the rules and
regulations thereunder, each as amended or modified from time to time.

     “ERISA Affiliate” means any Person who together with the Borrower is treated as a
single employer within the meaning of Section 414(b), (c), (m) or (o) of the Code or Section
4001(b) of ERISA.

     “Eurodollar Reserve Percentage” means, for any day, the percentage (expressed as a
decimal and rounded upwards, if necessary, to the next higher 1/100th of 1%) which is in effect for
such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor)
for determining the maximum reserve requirement (including, without limitation, any basic,
supplemental or emergency reserves) in respect of eurocurrency liabilities or any similar category
of liabilities for a member bank of the Federal Reserve System in New York City.

     “Event of Default” means any of the events specified in Section 12.1, provided that
any requirement for passage of time, giving of notice, or any other condition, has been satisfied.

     “Excess Cash Flow” means, for any period of determination commencing with the Fiscal
Year ending September 30, 2007 and thereafter, the sum of the following determined on a
Consolidated basis, without duplication, for the Borrower and its Subsidiaries in accordance with
GAAP: (a) EBITDA for such period, minus (b) cash taxes and Interest Expense paid in cash
for such period, minus (c) all scheduled principal payments made in respect of Debt during
such period minus (d) the difference of (i) the aggregate amount of all Capital
Expenditures made during such period less (ii) the aggregate amount of all Capital
Expenditures related to Permitted Sale-Leaseback Transactions made during such period,
minus (e) non-scheduled principal payments with respect to the Term Loan Facility
plus or minus (f) any increases or decreases in Working Capital minus (g)
the cash portion of the purchase price for Permitted Acquisitions minus (h) any reasonable
transaction costs and expenses incurred in connection with Permitted Acquisitions minus (i)
Net Cash Proceeds from any offering of equity securities by the Borrower or any of its Restricted
Subsidiaries other than solely as a result of offerings of equity securities made in connection
with any employee stock option, incentive plan or stock purchase plan or made in connection with
compensation or incentive plans for directors and officers, in each case, entered into in the
ordinary course of business, or the exercise of any options or other convertible securities in
connection therewith minus (j) the sum of (i) the aggregate amount of cash dividends paid
by the Borrower during such period pursuant to Section 11.6(b) and not financed by the Extensions
of Credit made on the Closing Date, and (ii) the purchase price of repurchases of the common stock
of the Borrower made in cash during such period pursuant to the terms of Section 11.6(c) and not
financed by the Extensions of Credit made on the date of the Delayed Term Loan Draw.

     “Excluded Asset Sale” has the meaning assigned thereto in Section 11.5.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the
Issuing Lender or any other recipient of any payment to be made by or on account of any obligation
of the

6

 

Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however
denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction
(or any political subdivision thereof) under the laws of which such recipient is organized or in
which its principal office is located or, in the case of any Lender, in which its applicable
Lending Office is located, (b) any branch profits taxes imposed by the United States or any similar
tax imposed by any other jurisdiction in which the Borrower is located and (c) in the case of a
Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section
5.12(b)), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time
such Foreign Lender becomes a party hereto (or designates a new Lending Office) or is attributable
to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply
with Section 5.11(e), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section 5.11(a).

     “Existing Credit Agreement” means that certain Amended and Restated Credit Agreement
dated as of January 8, 2004 by and among the Borrower, the lenders party thereto and the
Administrative Agent, as previously amended, restated, supplemented or modified prior to the
Closing Date.

     “Existing Letters of Credit” means those letters of credit existing on the Closing
Date and identified on Schedule 1.1(a).

     “Extensions of Credit” means, as to any Lender at any time, (a) an amount equal to the
sum of (i) the aggregate principal amount of all Revolving Credit Loans made by such Lender then
outstanding, (ii) such Lender’s Revolving Credit Commitment Percentage of the L/C Obligations then
outstanding, (iii) such Lender’s Revolving Credit Commitment Percentage of the Swingline Loans then
outstanding and (iv) the aggregate principal amount of the Term Loan made by such Lender then
outstanding, or (b) the making of any Loan or participation in any Letter of Credit by such Lender,
as the context requires.

     “FDIC” means the Federal Deposit Insurance Corporation, or any successor thereto.

     “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve
System arranged by federal funds brokers on such day (or, if such day is not a Business Day, for
the immediately preceding Business Day), as published by the Federal Reserve Bank of New York on
the Business Day next succeeding such day, provided that if such rate is not so published
for any day which is a Business Day, the Federal Funds Rate for such day shall be the average of
the quotations for such day on such transactions received by the Administrative Agent from three
Federal Funds brokers of recognized standing selected by the Administrative Agent.

     “Fiscal Year” means the fiscal year of the Borrower and its Subsidiaries ending on the
Sunday that is closest to September 30.

     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrower is resident for tax purposes. For purposes of this
definition, the

7

 

United States, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

     “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

     “Fund” means any Person (other than a natural person) that is (or will be) engaged in
making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its business.

     “Funded Debt” means, as of any date of determination with respect to the Borrower and
its Subsidiaries on a Consolidated basis without duplication, the sum of (a) all Debt of the
Borrower and its Subsidiaries referred to in clauses (a) and (c) of the definition of “Debt” and
(b) to the extent that the underlying guaranteed Debt would be Debt of the types referred to in
clause (a) of this definition, Debt referred to in clause (e) of the definition of “Debt”.

     “GAAP” means generally accepted accounting principles, as recognized by the American
Institute of Certified Public Accountants and the Financial Accounting Standards Board,
consistently applied and maintained on a consistent basis for the Borrower and its Subsidiaries
throughout the period indicated and (subject to Section 14.9) consistent with the prior financial
practice of the Borrower and its Subsidiaries.

     “Governmental Approvals” means all authorizations, consents, approvals, licenses and
exemptions of, registrations and filings with, and reports to, all Governmental Authorities.

     “Governmental Authority” means any nation, province, state or political subdivision
thereof, and any government or any Person exercising executive, legislative, regulatory or
administrative functions of or pertaining to government, and any corporation or other entity owned
or controlled, through stock or capital ownership or otherwise, by any of the foregoing.

     “Guaranty Agreement” means the unconditional Guaranty Agreement dated as of the date
hereof entered into by each of the Guarantors in favor of the Administrative Agent and the Secured
Parties, substantially in the form of Exhibit H, as amended, restated, supplemented or
otherwise modified from time to time hereafter.

     “Guarantors” means the Restricted Subsidiaries that are Domestic Subsidiaries of the
Borrower and any other Person which, after the Closing Date, becomes a party to the Guaranty
Agreement by executing and delivering a Joinder Agreement.

     “Guaranty Obligation” means, with respect to the Borrower and its Subsidiaries,
without duplication, any obligation, contingent or otherwise, of any such Person pursuant to which
such Person has directly or indirectly guaranteed any Debt or other obligation of any other Person
and, without limiting the generality of the foregoing, any obligation, direct or indirect,
contingent or otherwise, of any such Person (a) to purchase or pay (or advance or supply funds for
the purchase or payment of) such Debt or other obligation (whether arising by virtue of partnership
arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to
take-or-pay, or to maintain financial statement condition or otherwise) or (b) entered into for the
purpose of assuring in any other manner the obligee of such Debt or other obligation of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or in part);
provided, that the term Guaranty

8

 

Obligation shall not include endorsements for collection or deposit in the ordinary course of
business. The parties hereto agree that notwithstanding anything to the contrary in this
definition, the term “Guaranty Obligations” as used in Section 11.1 shall refer only to Guaranty
Obligations of the Borrower and its Restricted Subsidiaries.

     “Hazardous Materials” means any substances or materials (a) which are or become
defined as hazardous wastes, hazardous substances, pollutants, contaminants, chemical substances or
mixtures or toxic substances under any Environmental Law, (b) which are toxic, explosive,
corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to
human health or the environment and are or become regulated by any Governmental Authority, (c) the
presence of which require investigation or remediation under any Environmental Law or common law,
(d) the discharge or emission or release of which requires a permit or license under any
Environmental Law or other Governmental Approval, (e) which are deemed to constitute a nuisance or
a trespass which pose a health or safety hazard to Persons or neighboring properties, (f) which
consist of underground or aboveground storage tanks, whether empty, filled or partially filled with
any substance, or (g) which contain, without limitation, asbestos, polychlorinated biphenyls, urea
formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or waste, crude
oil, nuclear fuel, natural gas or synthetic gas.

     “Hedging Agreement” means any agreement with respect to any Interest Rate Contract,
forward rate agreement, forward foreign exchange agreement, currency swap agreement, cross-currency
rate swap agreement, currency option agreement or other agreement or arrangement designed to alter
the risks of any Person arising from fluctuations in interest rates or currency values (other than
any commodity swap or other agreement or arrangement related to commodity prices) all as amended,
restated, supplemented or otherwise modified from time to time.

     “Hedging Obligations” has the meaning assigned thereto in the definition of
“Obligations”.

     “Indemnified Taxes” means Taxes and Other Taxes other than Excluded Taxes.

     “Independent Collateral Account” means a collateral account established and maintained
by the Independent Issuer. The amounts held in such collateral account shall in no event exceed
$65,000,000 in the aggregate at any time, shall be subject to the Lien of the Independent Issuer
pursuant to Section 11.2 and shall be available to reimburse the Independent Issuer for draws,
fees, expenses and related obligations with respect to the Independent Letters of Credit in the
event that the Borrower defaults on its reimbursement obligations to the Independent Issuer with
respect to such letters of credit.

     “Independent Issuer” means Wachovia, in its capacity as issuer of the Independent
Letters of Credit.

     “Independent Letters of Credit” means those letters of credit issued by the
Independent Issuer for the account of the Borrower in an aggregate maximum face amount not to
exceed $60,000,000. The Independent Letters of Credit shall be issued outside of the Credit
Facility and shall not constitute Letters of Credit under this Agreement. Each Independent Letter
of Credit shall expire on a date satisfactory to the Independent Issuer, which date shall be no
later than the earlier of (A) one (1) year after the date of its issuance (but any Independent
Letter of Credit may, by its

9

 

terms, be renewable annually with the consent of the Independent Issuer), and (B) the fifth
(5th) Business Day prior to December 15, 2011.

     “Initial Term Loan Draw” has the meaning assigned thereto in Section 4.1.

     “Innovation Center Property” means the Borrower’s product marketing, research and
development facility in San Diego, California (including the real property upon which such facility
is situated and the adjacent property of approximately four acres that is owned by the Borrower).

     “Insurance and Condemnation Proceeds” has the meaning assigned thereto in Section
4.4(b)(v).

     “Interest Expense” means, with respect to the Borrower and its Subsidiaries for any
period, the gross interest expense (including, without limitation, interest expense attributable to
Capital Leases), net of all interest income of the Borrower and its Subsidiaries for such period,
all determined for such period on a Consolidated basis without duplication, in accordance with
GAAP.

     “Interest Period” has the meaning assigned thereto in Section 5.1(b).

     “Interest Rate Contract” means any interest rate swap agreement, interest rate cap
agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or
any other agreement regarding the hedging of interest rate risk exposure executed in connection
with hedging the interest rate exposure of any Person and any confirming letter executed pursuant
to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

     “ISP98” means the International Standby Practices (1998 Revision, effective January 1,
1999), International Chamber of Commerce Publication No. 590.

     “Issuing Lender” means Wachovia.

     “Joinder Agreement” means, collectively, each Joinder Agreement executed in favor of
the Administrative Agent for the ratable benefit of itself and the Lenders, in each case in form
and substance to be mutually agreed upon by the Borrower and the Administrative Agent.

     “L/C Commitment” means the lesser of (a) Seventy-Five Million Dollars ($75,000,000)
and (b) the Revolving Credit Commitment.

     “L/C Facility” means the letter of credit facility established pursuant to Article
III.

     “L/C Obligations” means at any time, an amount equal to the sum of (a) the aggregate
undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount
of drawings under Letters of Credit which have not then been reimbursed pursuant to Section 3.5.

     “L/C Participants” means the collective reference to all the Lenders with Revolving
Credit Commitments other than the Issuing Lender.

     “L/C Supporting Documentation” has the meaning assigned thereto in Section 3.2.

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     “Lender” means each Person executing this Agreement as a Lender (including, without
limitation, the Issuing Lender and the Swingline Lender unless the context otherwise requires) set
forth on the signature pages hereto and each Person that hereafter becomes a party to this
Agreement as a Lender pursuant to Section 14.10.

     “Lending Office” means, with respect to any Lender, the office of such Lender
maintaining such Lender’s Commitment Percentage of the Extensions of Credit.

     “Letters of Credit” means the collective reference to the standby letters of credit
issued pursuant to Section 3.1 and the Existing Letters of Credit.

     “Leverage Ratio” has the meaning assigned thereto in Section 10.1.

     “LIBOR” means the rate of interest per annum determined on the basis of the rate for
deposits in Dollars in minimum amounts of at least $5,000,000 for a period equal to the applicable
Interest Period which appears on the Telerate Page 3750 at approximately 11:00 a.m. (London time)
two (2) Business Days prior to the first day of the applicable Interest Period (rounded upward, if
necessary, to the nearest 1/100th of 1%). If, for any reason, such rate does not appear
on Telerate Page 3750, then “LIBOR” shall be determined by the Administrative Agent to be the
arithmetic average of the rate per annum at which deposits in Dollars in minimum amounts of at
least $5,000,000 would be offered by first class banks in the London interbank market to the
Administrative Agent at approximately 11:00 a.m. (London time) two (2) Business Days prior to the
first day of the applicable Interest Period for a period equal to such Interest Period. Each
calculation by the Administrative Agent of LIBOR shall be conclusive and binding for all purposes,
absent manifest error.

     “LIBOR Rate” means a rate per annum (rounded upwards, if necessary, to the next higher
1/100th of 1%) determined by the Administrative Agent pursuant to the following formula:

	 	 	 	 	 	 	 
	 

	 	LIBOR Rate =
	 	LIBOR	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	1.00-Eurodollar Reserve Percentage
	 	 

     “LIBOR Rate Loan” means any Loan bearing interest at a rate based upon the LIBOR Rate.

     “Lien” means, with respect to any asset, any mortgage, leasehold mortgage, lien,
pledge, charge, security interest, hypothecation or encumbrance of any kind in respect of such
asset. For the purposes of this Agreement, a Person shall be deemed to own subject to a Lien any
asset which it has acquired or holds subject to the interest of a vendor or lessor under any
conditional sale agreement, Capital Lease or other title retention agreement relating to such
asset.

     “Loan Documents” means, collectively, this Agreement, the Notes, the Applications, the
L/C Supporting Documentation, the Security Documents, each Joinder Agreement and each other
document, instrument, certificate and agreement executed and delivered by the Borrower or any
Subsidiary thereof in connection with this Agreement or otherwise contemplated hereby (excluding
any Hedging Agreement), all as may be amended, restated, supplemented or otherwise modified from
time to time.

11

 

     “Loans” means the collective reference to the Revolving Credit Loans, the Swingline
Loans and the Term Loan.

     “Margin Stock” has the meaning assigned thereto in Regulation U.

     “Material Adverse Effect” means a material adverse effect on (a) the properties,
business, operations or condition (financial or otherwise) of the Borrower and its Subsidiaries,
taken as a whole or (b) the ability of the Borrower or any of its Subsidiaries to perform its
obligations under any Loan Document.

     “Material Contract” means (a) any contract or other agreement, written or oral, of the
Borrower or any of its Subsidiaries involving monetary liability of or to any such Person in an
amount in excess of $25,000,000 per annum, or (b) any other contract or agreement, written or oral,
of the Borrower or any of its Restricted Subsidiaries the failure by the Borrower or any of its
Restricted Subsidiaries to comply with which could reasonably be expected to have a Material
Adverse Effect.

     “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.

     “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of
ERISA to which the Borrower or any ERISA Affiliate is making, or is accruing an obligation to make,
or has accrued an obligation to make contributions within the preceding six (6) years.

     “Net Cash Proceeds” means, as applicable, (a) with respect to any sale or other
disposition of assets, the gross cash proceeds received by the Borrower or any of its Restricted
Subsidiaries from such sale less the sum of (i) all income taxes and other taxes assessed
by a Governmental Authority as a result of such sale and any other fees and expenses incurred in
connection therewith and (ii) the principal amount of, premium, if any, and interest on any Debt
secured by a Lien on the asset (or a portion thereof) sold, which Debt is required to be repaid in
connection with such sale, (b) with respect to any offering of equity securities or issuance of
Debt (including, without limitation, Subordinated Debt), the gross cash proceeds received by the
Borrower or any of its Restricted Subsidiaries therefrom less all legal, underwriting and
other fees and expenses incurred in connection therewith and (c) with respect to any payment under
an insurance policy or in connection with a condemnation proceeding, the amount of cash proceeds
received by the Borrower or its Restricted Subsidiaries from an insurance company or Governmental
Authority, as applicable, net of all expenses of collection; provided, however, that Net
Cash Proceeds shall not include any such cash received by or on behalf of the Borrower or its
Restricted Subsidiaries with respect to (x) any securities convertible into or exchangeable for
Capital Stock issued to any officer, director or employee with respect to the Borrower or its
Restricted Subsidiaries, (y) any Permitted Sale-Leaseback Transaction with respect to the
Innovation Center Property or (z) any Excluded Asset Sale.

     “Net Income” means, with respect to the Borrower and its Subsidiaries, for any period
of determination, the net income (or loss) for such period, determined on a Consolidated basis in
accordance with GAAP; provided that there shall be excluded from Net Income (a) the net
income (or loss) of any Person (other than a Subsidiary which shall be subject to clause (c)
below), in which the Borrower or any of its Subsidiaries has a joint interest with a third party,
except to the extent

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such net income is actually paid to the Borrower or any of its Subsidiaries by dividend or
other distribution during such period (in an amount not to exceed the Borrower’s or such
Subsidiary’s share of equity income from such Person), (b) the net income (or loss) of any Person
accrued prior to the date it becomes a Subsidiary of such Person or is merged into or consolidated
with such Person or any of its Subsidiaries or that Person’s assets are acquired by such Person or
any of its Subsidiaries except to the extent included pursuant to the foregoing clause (a), (c) the
net income (if positive) of any Subsidiary, to the extent that the declaration or payment of
dividends or similar distributions by such Subsidiary to the Borrower or any Credit Party of such
net income (A) 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 such Subsidiary or (B) would be subject to any taxes payable on such dividends or distributions.

     “Notes” means the collective reference to the Revolving Credit Notes, the Swingline
Note and the Term Notes, and “Note” means any of such Notes.

     “Notice of Account Designation” has the meaning assigned thereto in Section 2.3(b).

     “Notice of Borrowing” has the meaning assigned thereto in Section 2.3(a).

     “Notice of Conversion/Continuation” has the meaning assigned thereto in Section 5.2.

     “Notice of Prepayment” has the meaning assigned thereto in Section 2.4(d).

     “Obligations” means, in each case, whether now in existence or hereafter arising: (a)
the principal of and interest on (including interest accruing after the filing of any bankruptcy or
similar petition) the Loans, (b) the L/C Obligations, (c) all existing or future payment and other
obligations owing by the Borrower under any Hedging Agreement (which such Hedging Agreement is
permitted hereunder) with any Person that is a Lender hereunder or an Affiliate of a Lender
hereunder at the time such Hedging Agreement is entered into (all such obligations with respect to
any such Hedging Agreement, “Hedging Obligations”) and (d) all other fees and commissions
(including attorneys’ fees), charges, indebtedness, loans, liabilities, financial accommodations,
obligations, covenants and duties owing by the Borrower or any of its Subsidiaries to the Lenders
or the Administrative Agent, in each case under or in respect of this Agreement, any Letter of
Credit or any of the other Loan Documents of every kind, nature and description, direct or
indirect, absolute or contingent, due or to become due, contractual or tortious, liquidated or
unliquidated, and whether or not evidenced by any note.

     “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control.

     “Officer’s Compliance Certificate” has the meaning assigned thereto in Section 8.2.

     “Operating Lease” means, as to any Person as determined in accordance with GAAP, any
lease of property (whether real, personal or mixed) by such Person as lessee which is not a Capital
Lease.

     “Other Taxes” means all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made hereunder or
under any

13

 

other Loan Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document.

     “Patriot Act” means the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) as amended or modified from time to time.

     “PBGC” means the Pension Benefit Guaranty Corporation or any successor agency.

     “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which
is subject to the provisions of Title IV of ERISA or Section 412 of the Code.

     “Permitted Acquisition” has the meaning assigned thereto in Section 11.3(h).

     “Permitted Acquisition Diligence Information” means with respect to any acquisition
proposed by the Borrower or any Restricted Subsidiary thereof, to the extent applicable, all
financial information, all Material Contracts, all customer lists, all supply agreements, and all
other material information, in each case, requested to be delivered to the Administrative Agent in
connection with such proposed acquisition.

     “Permitted Acquisition Documents” means with respect to any acquisition proposed by
the Borrower or any Restricted Subsidiary thereof, the purchase agreement, sale agreement, merger
agreement or other agreement evidencing such acquisition, including, without limitation, all legal
opinions and each other document executed, delivered, contemplated by or prepared in connection
therewith and any amendment, modification or supplement to any of the foregoing.

     “Permitted Sale-Leaseback Transaction” means any sale and leaseback transaction with
any Person providing for the leasing by the Borrower or any of its Restricted Subsidiaries of real
or personal property of (a) existing restaurant units owned by the Borrower or any Restricted
Subsidiary on the Closing Date and held for resale as set forth on Schedule 1.1(c), (b)
newly created restaurant units not in existence on the Closing Date, (c) existing restaurant units
owned by any franchisee of the Borrower or lessor to the Borrower or any of its Subsidiaries that
are acquired by the Borrower after the Closing Date or (d) the Innovation Center Property,
provided that, in each case the restaurant unit or units (or the Innovation Center
Property) are sold by the Borrower or such Restricted Subsidiary for fair value and cash
consideration only and, provided further that, the aggregate amount of gross
proceeds for all such sales in any Fiscal Year of the Borrower shall not exceed $115,000,000.

     “Person” means an individual, corporation, limited liability company, partnership,
association, trust, business trust, joint venture, joint stock company, pool, syndicate, sole
proprietorship, unincorporated organization, Governmental Authority or any other form of entity or
group thereof.

     “Prime Rate” means, at any time, the rate of interest per annum publicly announced
from time to time by Wachovia as its prime rate. Each change in the Prime Rate shall be effective
as of the opening of business on the day such change in such prime rate occurs. The parties hereto
acknowledge that the rate announced publicly by Wachovia as its prime rate is an index or base rate
and shall not necessarily be its lowest or best rate charged to its customers or other banks.

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     “Register” has the meaning assigned thereto in Section 14.10(c).

     “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System (12 C.F.R. 221).

     “Regulation X” means Regulation X of the Board of Governors of the Federal Reserve
System (12 C.F.R. 224).

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

     “Reimbursement Obligation” means the obligation of the Borrower to reimburse the
Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

     “Rental Expense” means, with respect to the Borrower and its Subsidiaries for any
period, all rental expenses with respect to Operating Leases (including, without limitation, any
rental expenses incurred in connection with a Permitted Sale-Leaseback Transaction) of the Borrower
and its Subsidiaries for such period, net of all cash received from rental payments made by
sublessees to the Borrower or any of its Subsidiaries during such period, determined on a
Consolidated basis in accordance with GAAP.

     “Replaced Lender” has the meaning assigned thereto in Section 5.12(c).

     “Replacement Lender” has the meaning assigned thereto in Section 5.12(c).

     “Required Lenders” means, at any date, any combination of Lenders holding more than
fifty percent (50%) of the sum of (a) the Revolving Credit Commitment (or, if the Revolving Credit
Facility has been terminated, any combination of Lenders holding more than fifty percent (50%) of
the aggregate outstanding Extensions of Credit thereunder) and (b) the aggregate outstanding
Extensions of Credit under the Term Loan Facility.

     “Responsible Officer” means any of the following: the chief executive officer, chief
financial officer or treasurer of the Borrower or any other officer of the Borrower reasonably
acceptable to the Administrative Agent.

     “Restricted Subsidiary” means any Subsidiary of the Borrower that is not an
Unrestricted Subsidiary.

     “Revolving Credit Commitment” means (a) as to any Lender, the obligation of such
Lender to make Revolving Credit Loans to and issue or participate in Letters of Credit issued for
the account of the Borrower hereunder in an aggregate principal amount at any time outstanding not
to exceed the amount set forth opposite such Lender’s name on the Register, as such amount may be
reduced or modified at any time or from time to time pursuant to the terms hereof, and (b) as to
all Lenders, the aggregate commitment of all Lenders to make Revolving Credit Loans and issue and
participate in Letters of Credit, as such amount may be reduced or increased at any time or from
time to time pursuant to the terms hereof. The Revolving Credit Commitment of all Lenders on the
Closing Date shall be One Hundred Fifty Million Dollars ($150,000,000).

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     “Revolving Credit Commitment Percentage” means, as to any Lender at any time, the
ratio of (a) the amount of the Revolving Credit Commitment of such Lender to (b) the Revolving
Credit Commitments of all Lenders.

     “Revolving Credit Facility” means the revolving credit facility established pursuant
to Article II of this Agreement.

     “Revolving Credit Lender” means each Lender with a Revolving Credit Commitment.

     “Revolving Credit Loan” means any revolving credit loan made to the Borrower pursuant
to Section 2.1, and all such revolving credit loans collectively as the context requires.

     “Revolving Credit Maturity Date” means the earliest of the dates referred to in
Section 2.6.

     “Revolving Credit Note” means a promissory note made by the Borrower in favor of a
Lender evidencing the Revolving Credit Loans made by such Lender, substantially in the form of
Exhibit A-1, and any amendments, supplements and modifications thereto, any substitutes
therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. and any successor thereto.

     “Sanctioned Entity” shall mean (i) an agency of the government of, (ii) an
organization directly or indirectly controlled by, or (iii) a person resident in a country that is
subject to a sanctions program identified on the list maintained by OFAC and available at
http://www.treas.gov/offices/enforcement/ofac/programs, or as otherwise published from time
to time as such program may be applicable to such agency, organization or person.

     “Sanctioned Person” shall mean a person named on the list of Specially Designated
Nationals or Blocked Persons maintained by OFAC available at http://www.treas.gov/offices/enforcement/ofac/sdn/index.html, or as otherwise published from time to time.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Secured Parties” means the Administrative Agent, the Lenders and/or any party to a
Hedging Agreement that was a Lender or an Affiliate of a Lender at the time such Hedging Agreement
was executed.

     “Security Documents” means the collective reference to the Guaranty Agreement, the
Collateral Agreement and each other agreement or writing pursuant to which the Borrower or any
Restricted Subsidiary thereof purports to pledge or grant a security interest in any property or
assets securing the Obligations or any such Person purports to guaranty the payment and/or
performance of the Obligations, in each case, as amended, restated, supplemented or otherwise
modified from time to time.

     “Solvent” means, as to the Borrower and its Restricted Subsidiaries on a particular
date, that any such Person (a) has capital sufficient to carry on its business and transactions and
all business

16

 

and transactions in which it is about to engage and is able to pay its debts as they mature,
(b) owns property having a value, both at fair valuation and at present fair saleable value,
greater than the amount required to pay its probable liabilities (including contingencies), and (c)
does not believe that it will incur debts or liabilities beyond its ability to pay such debts or
liabilities as they mature.

     “Subordinated Debt” means the collective reference to any Debt of the Borrower or any
Restricted Subsidiary subordinated in right and time of payment to the Obligations with a maturity
no earlier than a date that is six (6) months after the Term Loan Maturity Date and containing such
other terms and conditions (including, without limitation, the subordination terms), in each case
as are satisfactory to the Administrative Agent.

     “Subsidiary” means as to any Person, any corporation, partnership, limited liability
company or other entity of which more than fifty percent (50%) of the outstanding Capital Stock
having ordinary voting power to elect a majority of the board of directors or other managers of
such corporation, partnership, limited liability company or other entity is at the time owned by or
the management is otherwise controlled by such Person (irrespective of whether, at the time,
Capital Stock of any other class or classes of such corporation, partnership, limited liability
company or other entity shall have or might have voting power by reason of the happening of any
contingency). Unless otherwise qualified, references to “Subsidiary” or “Subsidiaries” herein
shall refer to those of the Borrower; provided that, notwithstanding the foregoing, the
Unrestricted Subsidiaries shall not be deemed to be Subsidiaries for the purposes of Articles X and
XI of this Agreement.

     “Swingline Commitment” means the lesser of (a) Twenty Million Dollars ($20,000,000)
and (b) the Revolving Credit Commitment.

     “Swingline Facility” means the swingline facility established pursuant to Section 2.2.

     “Swingline Lender” means Wachovia in its capacity as swingline lender hereunder.

     “Swingline Loan” means any swingline loan made by the Swingline Lender to the Borrower
pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

     “Swingline Note” means a promissory note made by the Borrower in favor of the
Swingline Lender evidencing the Swingline Loans made by the Swingline Lender, substantially in the
form of Exhibit A-2, and any amendments, supplements and modifications thereto, any
substitutes therefor, and any replacements, restatements, renewals or extensions thereof, in whole
or in part.

     “Swingline Termination Date” means the first to occur of (a) the resignation of
Wachovia as Administrative Agent in accordance with Section 13.6 and (b) the Revolving Credit
Maturity Date.

     “Synthetic Lease” means any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing product where such transaction is
considered borrowed money indebtedness for tax purposes but is classified as an Operating Lease in
accordance with GAAP.

     “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

17

 

     “Tender Offer” means that certain tender offer from the Borrower to the Borrower’s
shareholders to repurchase a portion of the Borrower’s outstanding Capital Stock pursuant to the
Offer to Purchase for Cash filed by the Borrower with the SEC on November 21, 2006 (including any
amendments to the Offer to Purchase for Cash that are filed with the SEC from time to time).

     “Term Loan” shall mean the term loan to be made to the Borrower by the Lenders
pursuant to Section 4.1 (including the Initial Term Loan Draw and the Delayed Term Loan Draw).

     “Term Loan Commitment” means (a) as to any Lender, the obligation of such Lender to
make the Term Loan to the account of the Borrower hereunder in an aggregate principal amount not to
exceed the amount set forth opposite such Lender’s name on the Register, as such amount may be
reduced or otherwise modified at any time or from time to time pursuant to the terms hereof and (b)
as to all Lenders, the aggregate commitment to make the Term Loan. The Term Loan Commitment of all
Lenders as of the Closing Date shall be Four Hundred Seventy-Five Million Dollars ($475,000,000).

     “Term Loan Draws” has the meaning assigned thereto in Section 4.1.

     “Term Loan Facility” means the term loan facility established pursuant to Article IV
of this Agreement.

     “Term Loan Maturity Date” means the first to occur of (a) December 15, 2012, or (b)
the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section
12.2(a).

     “Term Loan Percentage” means, as to any Lender, (a) prior to making the Term Loan, the
ratio of (i) the Term Loan Commitment of such Lender to (ii) the Term Loan Commitments of all
Lenders and (b) after the Term Loan is made, the ratio of (i) the outstanding principal balance of
the Term Loan of such Lender to (ii) the aggregate outstanding principal balance of the Term Loan
of all Lenders.

     “Term Note” means a promissory note made by the Borrower in favor of a Lender
evidencing the portion of the Term Loan made by such Lender, substantially in the form of
Exhibit A-3, and any amendments, supplements and modifications thereto, any substitutes
therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

     “Termination Event” means except for any such event or condition that could not
reasonably be expected to have a Material Adverse Effect: (a) a “Reportable Event” described in
Section 4043 of ERISA for which the notice requirement has not been waived by the PBGC or by
applicable regulation, or (b) the withdrawal of the Borrower or any ERISA Affiliate from a Pension
Plan with two or more contributing sponsors during a plan year in which it was a “substantial
employer” as defined in Section 4001(a)(2) of ERISA resulting in liability to the Borrower or any
ERISA Affiliate pursuant to Section 4063 or 4064 of ERISA, or (c) the termination of a Pension
Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension
Plan amendment as a termination, under Section 4041 of ERISA, if such termination, filing or
treatment could reasonably be expected to result in the Borrower making additional contributions to
a Pension Plan, or (d) the institution of proceedings to terminate, or the appointment of a trustee
with respect to, any Pension Plan by the PBGC, or (e) any other event or condition which would
constitute

18

 

grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee
to administer, any Pension Plan, or (f) the imposition of a Lien pursuant to Section 412(n) of the
Code or Section 302 of ERISA, or (g) the incurrence by the Borrower or any ERISA Affiliate of any
withdrawal liability with respect to the partial or complete withdrawal of the Borrower or any
ERISA Affiliate from a Multiemployer Plan, or (h) any event or condition which results in the
reorganization or insolvency of a Multiemployer Plan under Sections 4241 or 4245 of ERISA, or (i)
any event or condition which results in the termination of a Multiemployer Plan under Section 4041A
of ERISA or the institution by PBGC of proceedings to terminate a Multiemployer Plan under Section
4042 of ERISA.

     “Termination Value” means, in respect of any one or more Hedging Agreements, after
taking into account the effect of any legally enforceable netting agreement relating to such
Hedging Agreements, (a) for any date on or after the date such Hedging Agreements have been closed
out and termination value(s) determined in accordance therewith, any monetary obligations of the
Borrower and its Subsidiaries in respect of such termination value(s), and (b) for any date prior
to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for
any Hedging Agreements upon which the Borrower and its Subsidiaries would have a monetary
obligation if such Hedging Agreement were to be closed out and a termination value were to be
determined on the date of calculation, as determined based upon one or more mid-market or other
readily available quotations provided by any recognized dealer in such Hedging Agreements (which
may include a Lender or any Affiliate of a Lender).

     “Trading With the Enemy Act” means The Trading With The Enemy Act, Pub. L. No. 65-91,
40 Stat. 411 (1917), as amended or modified from time to time.

     “Uniform Customs” means the Uniform Customs and Practice for Documentary Credits (1993
Revision), effective January, 1994 International Chamber of Commerce Publication No. 500.

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

     “United States” means the United States of America.

     “Unrestricted Subsidiary” means any Subsidiary of the Borrower listed on Schedule
1.1(b) or which is designated as an Unrestricted Subsidiary after the Closing Date pursuant to
Section 9.9, provided that at all times such (a) Unrestricted Subsidiary’s obligations are
non-recourse to the Borrower and its Subsidiaries and (b) Unrestricted Subsidiary individually and
collectively with all other Unrestricted Subsidiaries meets the requirements set forth in Section
9.9.

     “Wachovia” means Wachovia Bank, National Association, a national banking association,
and its successors.

     “Wholly Owned” means, with respect to a Subsidiary, that all of the shares of Capital
Stock of such Subsidiary are, directly or indirectly, owned or controlled by the Borrower and/or
one or more of its Wholly Owned Subsidiaries (except for directors’ qualifying shares or other
shares required by Applicable Law to be owned by a Person other than the Borrower).

19

 

     “Working Capital” means, for any period of determination, current assets excluding
cash minus current liabilities (excluding any principal balances associated with the
Revolving Credit Loans), all determined in accordance with GAAP.

     SECTION 1.2 Other Definitions and Provisions. With reference to this Agreement and
each other Loan Document, unless otherwise specified herein or in such other Loan Document: (a)
the definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined, (b) whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms, (c) the words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”, (d) the word “will” shall be construed to
have the same meaning and effect as the word “shall”, (e) any definition of or reference to any
agreement, instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth herein),
(f) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (g) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(h) 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, (i) 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, (j) the term “documents” includes any and all instruments, documents, agreements,
certificates, notices, reports, financial statements and other writings, however evidenced, whether
in physical or electronic form, (k) in the computation of periods of time from a specified date to
a later specified date, the word “from” means “from and including;” the words “to” and “until” each
mean “to but excluding;” and the word “through” means “to and including”, and (l) Section headings
herein and in the other Loan Documents are included for convenience of reference only and shall not
affect the interpretation of this Agreement or any other Loan Document.

     SECTION 1.3 Accounting Terms. All accounting terms not specifically or completely
defined herein shall be construed in conformity with, and all financial data (including financial
ratios and other financial calculations) required to be submitted pursuant to this Agreement shall
be prepared in conformity with GAAP as in effect from time to time, applied on a consistent basis,
except as otherwise specifically prescribed herein.

     SECTION 1.4 UCC Terms. Terms defined in the UCC in effect on the Closing Date and not
otherwise defined herein shall, unless the context otherwise indicates, have the meanings provided
by those definitions. Subject to the foregoing, the term “UCC” refers, as of any date of
determination, to the UCC then in effect.

     SECTION 1.5 Rounding. Any financial ratios required to be maintained by the Borrower
pursuant to this Agreement shall be calculated by dividing the appropriate component by the other
component, carrying the result to one place more than the number of places by which such ratio is
expressed herein and rounding the result up or down to the nearest number (with a rounding-up if
there is no nearest number).

20

 

     SECTION 1.6 References to Agreement and Laws. Unless otherwise expressly provided
herein, (a) references to formation documents, governing documents, agreements (including the Loan
Documents) and other contractual instruments shall be deemed to include all subsequent amendments,
restatements, extensions, supplements and other modifications thereto, but only to the extent that
such amendments, restatements, extensions, supplements and other modifications are not prohibited
by any Loan Document; and (b) references to any Applicable Law shall include all statutory and
regulatory provisions consolidating, amending, replacing, supplementing or interpreting such
Applicable Law.

     SECTION 1.7 Times of Day. Unless otherwise specified, all references herein to times
of day shall be references to Eastern time (daylight or standard, as applicable).

     SECTION 1.8 Letter of Credit Amounts. Unless otherwise specified, all references
herein to the amount of a Letter of Credit at any time shall be deemed to mean the maximum face
amount of such Letter of Credit that is available to be drawn at such time; provided that,
for any purpose of determining the total amount of L/C Obligations under this Agreement or any
other Loan Document with respect to borrowing availability under any credit facility provided for
in this Agreement or any other Loan Document, the amount of a Letter of Credit at any time shall be
deemed to mean the maximum face amount of such Letter of Credit after giving effect to all
increases thereof contemplated by such Letter of Credit or the Application therefor, whether or not
such maximum face amount is in effect at such time (as such amount may be reduced by any amount
drawn, reimbursed and no longer available under such Letter of Credit).

ARTICLE II

REVOLVING CREDIT FACILITY

     SECTION 2.1 Revolving Credit Loans. Subject to the terms and conditions of this
Agreement, and in reliance upon the representations and warranties set forth herein, each Revolving
Credit Lender severally agrees to make Revolving Credit Loans to the Borrower from time to time
from the Closing Date through, but not including, the Revolving Credit Maturity Date as requested
by the Borrower in accordance with the terms of Section 2.3; provided, that (a) the
aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any
amount requested) shall not exceed the Revolving Credit Commitment less the sum of all
outstanding Swingline Loans and L/C Obligations and (b) the principal amount of outstanding
Revolving Credit Loans from any Revolving Credit Lender to the Borrower shall not at any time
exceed such Lender’s Revolving Credit Commitment less such Lender’s Revolving Credit
Commitment Percentage of outstanding L/C Obligations and outstanding Swingline Loans. Each
Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender’s Revolving
Credit Commitment Percentage of the aggregate principal amount of Revolving Credit Loans requested
on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and
reborrow Revolving Credit Loans hereunder until the Revolving Credit Maturity Date.

     SECTION 2.2 Swingline Loans.

               (a) Availability. Subject to the terms and conditions of this Agreement, the
Swingline Lender agrees to make Swingline Loans to the Borrower from time to time from the Closing
Date through, but not including, the Swingline Termination Date; provided, that the

21

 

aggregate principal amount of all outstanding Swingline Loans (after giving effect to any
amount requested), shall not exceed the lesser of (i) the Revolving Credit Commitment less
the sum of all outstanding Revolving Credit Loans and the L/C Obligations and (ii) the Swingline
Commitment; provided further that the Swingline Lender will not make a Swingline
Loan from and after the date which is one (1) day after it has received written notice from the
Administrative Agent (upon the request of the Required Lenders) that one or more of the applicable
conditions to Extensions of Credit specified in Section 6.3 is not then satisfied until such
conditions are satisfied or waived in accordance with the provisions of this Agreement (and the
Swingline Lender shall be entitled to conclusively rely on any such notice and shall have no
obligation to independently investigate the accuracy of such notice and shall have no liability to
the Borrower in respect thereof if such notice proves to be inaccurate).

               (b) Refunding. Swingline Loans shall be refunded by the Revolving Credit Lenders on
demand by the Swingline Lender. Such refundings shall be made by the Revolving Credit Lenders in
accordance with their respective Revolving Credit Commitment Percentages and shall thereafter be
reflected as Revolving Credit Loans of the Revolving Credit Lenders on the books and records of the
Administrative Agent. Each Revolving Credit Lender shall fund its respective Revolving Credit
Commitment Percentage of Revolving Credit Loans as required to repay Swingline Loans outstanding to
the Swingline Lender upon demand by the Swingline Lender but in no event later than 3:00 p.m. on
the next succeeding Business Day after such demand is made. No Revolving Credit Lender’s
obligation to fund its respective Revolving Credit Commitment Percentage of a Swingline Loan shall
be affected by any other Revolving Credit Lender’s failure to fund its Revolving Credit Commitment
Percentage of a Swingline Loan, nor shall any Revolving Credit Lender’s Revolving Credit Commitment
Percentage be increased as a result of any such failure of any other Revolving Credit Lender to
fund its Revolving Credit Commitment Percentage of a Swingline Loan.

               (i) The Borrower shall pay to the Swingline Lender on demand the amount of such Swingline
Loans to the extent amounts received from the Revolving Credit Lenders are not sufficient to repay
in full the outstanding Swingline Loans requested or required to be refunded. In addition, the
Borrower hereby authorizes the Administrative Agent to charge any account maintained by the
Borrower with the Swingline Lender (up to the amount available therein) in order to immediately pay
the Swingline Lender the amount of such Swingline Loans to the extent amounts received from the
Revolving Credit Lenders are not sufficient to repay in full the outstanding Swingline Loans
requested or required to be refunded. If any portion of any such amount paid to the Swingline
Lender shall be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy
or otherwise, the loss of the amount so recovered shall be ratably shared among all the Revolving
Credit Lenders in accordance with their respective Revolving Credit Commitment Percentages (unless
the amounts so recovered by or on behalf of the Borrower pertain to a Swingline Loan extended after
the occurrence and during the continuance of an Event of Default of which the Administrative Agent
has received notice in the manner required pursuant to Section 13.3 and which such Event of Default
has not been waived by the Required Lenders or the Lenders, as applicable).

               (ii) Each Revolving Credit Lender acknowledges and agrees that its obligation to refund
Swingline Loans in accordance with the terms of this Section 2.2 is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including, without

22

 

limitation, non-satisfaction of the conditions set forth in Article VI. Further, each
Revolving Credit Lender agrees and acknowledges that if, prior to the refunding of any outstanding
Swingline Loans pursuant to this Section 2.2, one of the events described in Section 12.1(h) or (i)
shall have occurred, each Revolving Credit Lender will, on the date the applicable Revolving Credit
Loan would have been made, purchase an undivided participating interest in the Swingline Loan to be
refunded in an amount equal to its Revolving Credit Commitment Percentage of the aggregate amount
of such Swingline Loan. Each Revolving Credit Lender will immediately transfer to the Swingline
Lender, in immediately available funds, the amount of its participation and upon receipt thereof
the Swingline Lender will deliver to such Revolving Credit Lender a certificate evidencing such
participation dated the date of receipt of such funds and for such amount. Whenever, at any time
after the Swingline Lender has received from any Revolving Credit Lender such Revolving Credit
Lender’s participating interest in a Swingline Loan, the Swingline Lender receives any payment on
account thereof, the Swingline Lender will distribute to such Revolving Credit Lender its
participating interest in such amount (appropriately adjusted, in the case of interest payments, to
reflect the period of time during which such Revolving Credit Lender’s participating interest was
outstanding and funded).

     SECTION
2.3 Procedure for Advances of Revolving Credit and Swingline Loans.

               (a) Requests for Borrowing. The Borrower shall give the Administrative Agent
irrevocable prior written notice substantially in the form attached hereto as Exhibit B (a
“Notice of Borrowing”) not later than 2:00 p.m. (i) on the same Business Day as each Base
Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate
Loan, of its intention to borrow, specifying (A) the date of such borrowing, which shall be a
Business Day, (B) the amount of such borrowing, which shall be (x) with respect to Base Rate Loans
(other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of
$500,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount
of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline
Loans in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess
thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case
of a Revolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E)
in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto. A Notice
of Borrowing received after 2:00 p.m. shall be deemed received on the next Business Day. The
Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.

               (b) Disbursement of Revolving Credit and Swingline Loans. Not later than 3:00 p.m. on
the proposed borrowing date, (i) each Lender will make available to the Administrative Agent, for
the account of the Borrower, at the office of the Administrative Agent in funds immediately
available to the Administrative Agent, such Lender’s Revolving Credit Commitment Percentage of the
Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make
available to the Administrative Agent, for the account of the Borrower, at the office of the
Administrative Agent in funds immediately available to the Administrative Agent, the Swingline
Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the
Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section
2.3 in immediately available funds by crediting or wiring such proceeds to the deposit account of
the Borrower identified in the most recent notice

23

 

substantially in the form of Exhibit C hereto (a “Notice of Account
Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise
agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7
hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of
any Revolving Credit Loan requested pursuant to this Section 2.3 to the extent that any Lender has
not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such
Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made
by the Revolving Credit Lenders as provided in Section 2.2(b).

     SECTION
2.4 Repayment of Revolving Credit and Swingline Loans.

               (a) Repayment on Termination Date. The Borrower hereby agrees to repay the
outstanding principal amount of (i) all Revolving Credit Loans in full on the Revolving Credit
Maturity Date, and (ii) all Swingline Loans in accordance with Section 2.2(b), together, in each
case, with all accrued but unpaid interest thereon.

               (b) Mandatory Repayment of Revolving Credit Loans. If at any time the outstanding
principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline
Loans and L/C Obligations exceeds the Revolving Credit Commitment, the Borrower agrees to repay
immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for
the account of the Lenders, Extensions of Credit in an amount equal to such excess, with each such
repayment applied first to the principal amount of outstanding Swingline Loans,
second to the principal amount of outstanding Revolving Credit Loans and third,
with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash
collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount
equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash
collateral to be applied in accordance with Section 12.2(b)).

               (c) Mandatory Repayment from Excess Proceeds. In the event proceeds remain after the
prepayments of the Term Loan Facility pursuant to Section 4.4(b), the amount of such excess
proceeds shall be used on the date of the required prepayment under Section 4.4(b) to prepay the
outstanding principal amount of the Revolving Credit Loans, without a corresponding reduction of
the Revolving Credit Commitment.

               (d) Optional Repayments. The Borrower may at any time and from time to time repay the
Revolving Credit and the Swingline Loans, in whole or in part, upon at least (i) three (3) Business
Days’ irrevocable notice to the Administrative Agent with respect to LIBOR Rate Loans, (ii) one (1)
Business Day irrevocable notice with respect to Base Rate Loans and (iii) same day notice by 2:00
p.m. with respect to Swingline Loans, substantially in the form attached hereto as Exhibit
D (a “Notice of Prepayment”) specifying the date and amount of repayment and whether
the repayment is of LIBOR Rate Loans, Base Rate Loans, Swingline Loans or a combination thereof,
and, if of a combination thereof, the amount allocable to each. Upon receipt of such notice, the
Administrative Agent shall promptly notify each Lender. If any such notice is given, the amount
specified in such notice shall be due and payable on the date set forth in such notice. Partial
repayments shall be in an aggregate amount of $1,000,000 or a whole multiple of $500,000 in excess
thereof with respect to Base Rate Loans (other than Swingline Loans), $5,000,000 or a whole
multiple of $1,000,000 in excess thereof with respect

24

 

to LIBOR Rate Loans and $100,000 or a whole multiple of $100,000 in excess thereof with
respect to Swingline Loans. Each such repayment shall be accompanied by an amount required to be
paid pursuant to Section 5.9 hereof.

          (e) Limitation on Repayment of LIBOR Rate Loans. The Borrower may not repay any
LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable
thereto unless such repayment is accompanied by any amount required to be paid pursuant to
Section 5.9 hereof.

               (f) Hedging Agreements. No repayment or prepayment pursuant to this Section 2.4 shall
affect any of the Borrower’s obligations under any Hedging Agreement.

     SECTION 2.5 Permanent Reduction of the Revolving Credit Commitment.

               (a) Voluntary Reduction. The Borrower shall have the right at any time and from time
to time, upon at least three (3) Business Days prior written notice to the Administrative Agent, to
permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any
time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate
principal amount not less than $5,000,000 or any whole multiple of $1,000,000 in excess thereof.
The amount of each partial permanent reduction shall permanently reduce the Lenders’ Revolving
Credit Commitments pro rata in accordance with their respective Revolving Credit
Commitment Percentages.

               (b) Corresponding Payment. Each permanent reduction permitted pursuant to this
Section 2.5 shall be accompanied by a payment of principal, first to the principal amount
of outstanding Swingline Loans, second to the principal amount of outstanding Revolving
Credit Loans and third to any Letters of Credit then outstanding, in each case sufficient
to reduce the aggregate outstanding Revolving Credit Loans, Swingline Loans and L/C Obligations, as
applicable, after such reduction to the Revolving Credit Commitment as so reduced and if the
Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding
Letters of Credit, the Borrower shall be required to deposit cash collateral in a cash collateral
account opened by the Administrative Agent in an amount equal to the aggregate then undrawn and
unexpired amount of such Letters of Credit. Such cash collateral shall be applied in accordance
with Section 12.2(b). Any reduction of the Revolving Credit Commitment to zero shall be
accompanied by payment of all outstanding Revolving Credit Loans and Swingline Loans (and
furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and
shall result in the termination of the Revolving Credit Commitment and the Swingline Commitment and
the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section
12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR
Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to
Section 5.9.

     SECTION 2.6 Termination of Revolving Credit Facility. The Revolving Credit Facility
shall terminate on the earliest of (a) December 15, 2011, (b) the date of termination by the
Borrower pursuant to Section 2.5 of the entire Revolving Credit Commitment, or (c) the date of
termination by the Administrative Agent on behalf of the Lenders pursuant to Section 12.2(a).

25

 

ARTICLE III

LETTER OF CREDIT FACILITY

     SECTION 3.1 L/C Commitment. Subject to the terms and conditions hereof, the Issuing
Lender, in reliance on the agreements of the L/C Participants set forth in Section 3.4(a), agrees
to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any
Business Day from the Closing Date through but not including the fifth (5th) Business
Day prior to the Revolving Credit Maturity Date in such form as may be approved from time to time
by the Issuing Lender and the Administrative Agent; provided, that the Issuing Lender shall
have no obligation to issue, and the L/C Participants shall have no obligation to participate in,
any Letter of Credit if, after giving effect to such issuance, (a) the L/C Obligations would exceed
the L/C Commitment or (b) the aggregate principal amount of outstanding Revolving Credit Loans,
plus the aggregate principal amount of outstanding Swingline Loans, plus the
aggregate amount of L/C Obligations would exceed the Revolving Credit Commitment. Each Letter of
Credit (other than the Existing Letters of Credit) shall (i) be in a minimum amount of $25,000
unless otherwise agreed to by the Issuing Lender, (ii) be a standby or trade letter of credit
issued to support obligations of the Borrower or any of its Restricted Subsidiaries, contingent or
otherwise, incurred in the ordinary course of business, (iii) expire on a date satisfactory to the
Issuing Lender and the Administrative Agent, which date shall be no later than the earlier of (A)
one (1) year after the date of its issuance (but any Letter of Credit issued hereunder may, by its
terms and consistent with the terms hereof, be renewable annually with the consent of the Issuing
Bank), and (B) the fifth (5th) Business Day prior to the Revolving Credit Maturity Date and (iv) be
subject to the Uniform Customs and/or ISP98, as set forth in the Application or as determined by
the Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New
York. As of the Closing Date, each of the Existing Letters of Credit shall constitute, for all
purposes of this Agreement and the other Loan Documents, a Letter of Credit issued and outstanding
hereunder. The Issuing Lender shall not at any time be obligated to issue, and the L/C
Participants shall have no obligation to participate in, any Letter of Credit hereunder if such
issuance would conflict with, or cause the Issuing Lender or any L/C Participant to exceed any
limits imposed by, any Applicable Law. References herein to “issue” and derivations thereof with
respect to Letters of Credit shall also include extensions or modifications of any existing Letters
of Credit, unless the context otherwise requires.

     SECTION 3.2 Procedure for Issuance of Letters of Credit. The Borrower may from time
to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing
Lender an Application therefor, completed to the satisfaction of the Issuing Lender, and such other
certificates, documents and other papers and information (“L/C Supporting Documentation”)
as the Issuing Lender and the Administrative Agent may request. The Borrower will
contemporaneously deliver to the Administrative Agent at the Administrative Agent’s Office a copy
of such Application and L/C Supporting Documentation. Upon receipt of any Application, the Issuing
Lender shall process such Application and the L/C Supporting Documentation delivered to it in
connection therewith in accordance with its customary procedures and shall, after approving the
same and receiving confirmation from the Administrative Agent that sufficient availability exists
under the Revolving Credit Facility for issuance of such Letter of Credit, subject to Section 3.1
and Article VI hereof, promptly issue the Letter of Credit requested thereby (but in no event shall
the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days
after its receipt of the Application

26

 

therefor and all L/C Supporting Documentation relating thereto) by issuing the original of
such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing
Lender and the Borrower; provided that the Issuing Lender shall not issue a Letter of
Credit from and after the date which is one (1) day after it has received written notice from the
Administrative Agent (upon the request of the Required Lenders) that one or more of the applicable
conditions to Extensions of Credit specified in Section 6.3 is not then satisfied until such
conditions are satisfied or waived in accordance with the provisions of this Agreement (and the
Issuing Lender shall be entitled to conclusively rely on any such notice and shall have no
obligation to independently investigate the accuracy of such notice and shall have no liability to
the Borrower in respect thereof if such notice proves to be inaccurate). The Issuing Lender shall
promptly furnish to the Borrower and the Administrative Agent a copy of such Letter of Credit and
promptly notify each Revolving Credit Lender of the issuance and upon request by any Revolving
Credit Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the
amount of such Revolving Credit Lender’s participation therein.

     SECTION 3.3 Commissions and Other Charges.

          (a) The Borrower shall pay to the Administrative Agent, for the account of the Issuing
Lender and the L/C Participants, a letter of credit commission with respect to each Letter of
Credit in an amount equal to the face amount of such Letter of Credit multiplied
by the Applicable Margin with respect to Revolving Credit Loans that are LIBOR Rate
Loans (determined on a per annum basis). Such commission shall be payable quarterly in
arrears on the last Business Day of each calendar quarter and on the Revolving Credit Maturity
Date. The Administrative Agent shall, promptly following its receipt thereof, distribute to
the Issuing Lender and the L/C Participants all commissions received pursuant to this Section
3.3(a) in accordance with their respective Revolving Credit Commitment Percentages.

          (b) In addition to the foregoing commission, the Borrower shall pay the Administrative
Agent, for the account of the Issuing Lender, an issuance fee with respect to each Letter of
Credit issued hereunder in an amount equal to the face amount of such Letter of Credit
multiplied by one-eighth of one percent (.125%) per annum. Such issuance fee shall be billed
by the Administrative Agent and shall be payable by the Borrower in equal quarterly payments,
in arrears, on the last Business Day of each calendar quarter commencing with the first such
date to occur after the issuance of such Letter of Credit, on the Revolving Credit Maturity
Date and thereafter on demand of the Administrative Agent.

          (c) In addition to the foregoing fees and commissions, the Borrower shall pay or
reimburse the Issuing Lender for such normal and customary costs and expenses as are incurred
or charged by the Issuing Lender in issuing, effecting payment under, amending or otherwise
administering any Letter of Credit.

     SECTION 3.4 L/C Participations.

          (a) The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C
Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each L/C
Participant irrevocably agrees to accept and purchase and hereby accepts and

27

 

purchases from the Issuing Lender, on the terms and conditions hereinafter stated, for
such L/C Participant’s own account and risk an undivided interest equal to such L/C
Participant’s Revolving Credit Commitment Percentage in the Issuing Lender’s obligations and
rights under and in respect of each Letter of Credit issued hereunder and the amount of each
draft paid by the Issuing Lender thereunder. Each L/C Participant unconditionally and
irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit
for which the Issuing Lender is not reimbursed in full by the Borrower through a Revolving
Credit Loan or otherwise in accordance with the terms of this Agreement, such L/C Participant
shall pay to the Issuing Lender upon demand at the Issuing Lender’s address for notices
specified herein an amount equal to such L/C Participant’s Revolving Credit Commitment
Percentage of the amount of such draft, or any part thereof, which is not so reimbursed.

          (b) Upon becoming aware of any amount required to be paid by any L/C Participant to the
Issuing Lender pursuant to Section 3.4(a) in respect of any unreimbursed portion of any
payment made by the Issuing Lender under any Letter of Credit, the Issuing Lender shall notify
the Administrative Agent and each L/C Participant of the amount and due date of such required
payment and such L/C Participant shall pay to the Issuing Lender the amount specified on the
applicable due date. If any such amount is paid to the Issuing Lender after the date such
payment is due, such L/C Participant shall pay to the Issuing Lender on demand, in addition to
such amount, the product of (i) such amount, times (ii) the daily average Federal
Funds Rate as determined by the Administrative Agent during the period from and including the
date such payment is due to the date on which such payment is immediately available to the
Issuing Lender, times (iii) a fraction the numerator of which is the number of days
that elapse during such period and the denominator of which is 360. A certificate of the
Issuing Lender with respect to any amounts owing under this Section 3.4(b) shall be conclusive
in the absence of manifest error. With respect to payment to the Issuing Lender of the
unreimbursed amounts described in this Section 3.4(b), if the L/C Participants receive notice
that any such payment is due (A) prior to 1:00 p.m. on any Business Day, such payment shall be
due that Business Day, and (B) after 1:00 p.m. on any Business Day, such payment shall be due
on the following Business Day.

          (c) Whenever, at any time after the Issuing Lender has made payment under any Letter of
Credit and has received from any L/C Participant its Revolving Credit Commitment Percentage of
such payment in accordance with this Section 3.4, the Issuing Lender receives any payment
related to such Letter of Credit (whether directly from the Borrower or otherwise, or any
payment of interest on account thereof), the Issuing Lender will distribute to such L/C
Participant its pro rata share thereof; provided, that in the event
that any such payment received by the Issuing Lender shall be required to be returned by the
Issuing Lender, such L/C Participant shall return to the Issuing Lender the portion thereof
previously distributed by the Issuing Lender to it.

     SECTION 3.5 Reimbursement Obligation of the Borrower. In the event of any drawing
under any Letter of Credit, the Borrower agrees to reimburse (either with the proceeds of a
Revolving Credit Loan as provided for in this Section 3.5 or with funds from other sources), the
Issuing Lender not later than 1:00 p.m. on the next succeeding Business Day for the amount of (a)
such draft so paid and (b) any amounts referred to in Section 3.3(c) incurred by the Issuing Lender

28

 

in connection with such payment. The Issuing Lender shall deliver written notice of any
drawing under a Letter of Credit to the Administrative Agent and the Borrower. Unless the Borrower
shall immediately notify the Issuing Lender that the Borrower intends to reimburse the Issuing
Lender for such drawing from other sources or funds, the Borrower shall be deemed to have timely
given a Notice of Borrowing to the Administrative Agent requesting that the Revolving Credit
Lenders make a Revolving Credit Loan bearing interest at the Base Rate on such date in the amount
of (a) such draft so paid and (b) any amounts referred to in Section 3.3(c) incurred by the Issuing
Lender in connection with such payment, and the Revolving Credit Lenders shall make a Revolving
Credit Loan bearing interest at the Base Rate in such amount, the proceeds of which shall be
applied to reimburse the Issuing Lender for the amount of the related drawing and costs and
expenses. Each Revolving Credit Lender acknowledges and agrees that its obligation to fund a
Revolving Credit Loan in accordance with this Section 3.5 to reimburse the Issuing Lender for any
draft paid under a Letter of Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including, without limitation, non-satisfaction of the conditions set
forth in Section 2.3(a) or Article VI. If the Borrower has elected to pay the amount of such
drawing with funds from other sources and shall fail to reimburse the Issuing Lender as provided
above, the unreimbursed amount of such drawing shall bear interest at the rate which would be
payable on any outstanding Base Rate Loans which were then overdue from the date such amounts
become payable (whether at stated maturity, by acceleration or otherwise) until payment in full.

     SECTION 3.6 Obligations Absolute. The Borrower’s obligations under this Article III
(including, without limitation, the Reimbursement Obligation) shall be absolute and unconditional
under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment
which the Borrower may have or have had against the Issuing Lender or any beneficiary of a Letter
of Credit or any other Person. The Borrower also agrees that the Issuing Lender, the
Administrative Agent and the L/C Participants shall not be responsible for, and the Borrower’s
Reimbursement Obligation under Section 3.5 shall not be affected by, among other things, the
validity or genuineness of documents or of any endorsements thereon, even though such documents
shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the
Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of
Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such
Letter of Credit or any such transferee. The Issuing Lender shall not be liable for any error,
omission, interruption or delay in transmission, dispatch or delivery of any message or advice,
however transmitted, in connection with any Letter of Credit, except for errors or omissions caused
by the Issuing Lender’s gross negligence or willful misconduct as determined by a court of
competent jurisdiction by final, nonappealable judgment. The Borrower agrees that any action taken
or omitted by the Issuing Lender or the Administrative Agent under or in connection with any Letter
of Credit or the related drafts or documents, if done in the absence of gross negligence or willful
misconduct, shall be binding on the Borrower and shall not result in any liability of the Issuing
Lender, the Administrative Agent or any L/C Participant to the Borrower. The responsibility of the
Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter
of Credit shall, in addition to any payment obligation expressly provided for in such Letter of
Credit, be limited to determining that the documents (including each draft) delivered under such
Letter of Credit in connection with such presentment are in conformity with such Letter of Credit.

29

 

     SECTION 3.7 Effect of Application. To the extent that any provision of any
Application related to any Letter of Credit is inconsistent with the provisions of this Article
III, the provisions of this Article III shall apply.

ARTICLE IV

TERM LOAN FACILITY

     SECTION 4.1 Term Loan. Subject to the terms and conditions of this Agreement, each
Lender with a Term Loan Commitment severally agrees to make a Term Loan to the Borrower in two (2)
draws as requested by the Borrower in accordance with Section 4.2 (the first of such draws, the
“Initial Term Loan Draw” and the second of such draws, the “Delayed Term Loan Draw”
and, collectively, the “Term Loan Draws”); provided that (a) the Initial Term Loan Draw, in
an aggregate principal amount equal to $275,000,000, shall be made on the Closing Date, (b) the
Delayed Term Loan Draw, in an aggregate principal amount equal to $200,000,000, shall be made no
later than 2:00 p.m. on January 15, 2007 (the “Delayed Term Loan Funding Deadline”), (c)
the aggregate principal amount of the Term Loan outstanding (after giving effect to any amount
requested) shall not exceed the Term Loan Commitment, (d) the portion of aggregate principal amount
of the outstanding Term Loan from any Lender to the Borrower shall not at any time exceed such
Lender’s Term Loan Commitment and (e) each Lender’s Term Loan Commitment shall terminate as of the
Delayed Term Loan Funding Deadline (regardless of (i) the failure of the Borrower to request the
Delayed Term Loan Draw or (ii) the failure of the Borrower to fully utilize the total aggregate
principal amount of the Term Loan Commitment upon making the Delayed Term Loan Draw). Each Term
Loan Draw shall be funded by each such Lender in a principal amount equal to such Lender’s Term
Loan Percentage of the aggregate principal amount of the Term Loan made on the applicable date.

     SECTION 4.2 Procedure for Advance of Term Loan Draws. The Borrower shall give the
Administrative Agent an irrevocable Notice of Borrowing prior to 2:00 p.m. (a) on the same Business
Day for each Base Rate Loan and (b) at least three (3) Business Days before each LIBOR Rate Loan,
of its intention to borrow, specifying:

          (i) the date of such Term Loan Draw, which shall be (A) with respect to the Initial Term Loan
Draw, the Closing Date and (B) with respect to the Delayed Term Loan Draw, a Business Day no later
than the Delayed Term Loan Funding Deadline;

          (ii) the amount of such borrowing, which shall be (A) with respect to Base Rate Loans in an
aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof or (B)
with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple
of $1,000,000 in excess thereof;

          (iii) whether the Loan to be made pursuant to such Term Loan Draw is to consist of LIBOR Rate
Loans or Base Rate Loans (provided that the Borrower may request, prior to the Closing
Date, that such Lenders make the Initial Term Loan Draw as a LIBOR Rate Loan if the Borrower has
delivered to the Administrative Agent a letter in form and substance satisfactory to the
Administrative Agent indemnifying such Lenders in the manner set forth in Section 5.9 of this
Agreement); and

30

 

          (iv) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto.

          Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall
promptly notify each Lender thereof. Not later than 3:00 p.m. on the applicable date of any Term
Loan Draw, each Lender will make available to the Administrative Agent for the account of the
Borrower, at the office of the Administrative Agent in immediately available funds, the amount of
such Term Loan to be made by such Lender on such date. The Borrower hereby irrevocably authorizes
the Administrative Agent to disburse the proceeds of each Term Loan Draw in immediately available
funds by wire transfer to such Person or Persons as may be designated by the Borrower.

     SECTION 4.3 Repayment of Term Loan. The Borrower shall repay the aggregate
outstanding principal amount of the Term Loan in consecutive quarterly installments on the last
Business Day of each of January, April, July and October commencing January 31, 2008 in amounts
equal to the following percentages of the Term Loan outstanding on January 16, 2007, in accordance
with the following amortization schedule, except as the amount of individual installments may be
adjusted pursuant to Section 4.4 hereof:

	 	 	 	 	 	 	 
	 	 	 	 	PRINCIPAL INSTALLMENT (EXPRESSED AS
	 	 	 	 	A PERCENTAGE OF THE OUTSTANDING
	 	 	 	 	TERM LOAN PRINCIPAL AMOUNT AS OF
	YEAR	 	PAYMENT DATE	 	JANUARY 16, 2007)
	2008
	 	January 31	 	 	1.25	%
	 
	 	April 30	 	 	1.25	%
	 
	 	July 31	 	 	1.25	%
	 
	 	October 31	 	 	1.25	%
	2009
	 	January 31	 	 	2.50	%
	 
	 	April 30	 	 	2.50	%
	 
	 	July 31	 	 	2.50	%
	 
	 	October 31	 	 	2.50	%
	2010
	 	January 31	 	 	2.50	%
	 
	 	April 30	 	 	2.50	%
	 
	 	July 31	 	 	2.50	%
	 
	 	October 31	 	 	2.50	%
	2011
	 	January 31	 	 	3.75	%
	 
	 	April 30	 	 	3.75	%
	 
	 	July 31	 	 	3.75	%
	 
	 	October 31	 	 	3.75	%
	2012
	 	January 31	 	 	15.00	%
	 
	 	April 30	 	 	15.00	%
	 
	 	July 31	 	 	15.00	%
	 
	 	Term Loan Maturity Date	 	 	15.00	%

31

 

          If not sooner paid, the Term Loan shall be paid in full, together with accrued interest
thereon, on the Term Loan Maturity Date.

SECTION
4.4 Prepayments of Term Loan. Optional Prepayment of Term Loan. The Borrower shall have the right at any time and from time to time, upon delivery
to the Administrative Agent of a Notice of Prepayment at least three (3) Business Days prior
to any repayment, to prepay the Term Loan in whole or in part without premium or penalty
except as provided in Section 5.9. Each optional prepayment of the Term Loan hereunder shall
be in an aggregate principal amount of at least $5,000,000 or any whole multiple of $1,000,000
in excess thereof. So long as the unused portion of the Revolving Credit Commitment equals or
exceeds $50,000,000 at the time of, and after giving effect to, such prepayment, then such
prepayment may be applied to the remaining scheduled quarterly principal installments of the
Term Loan set forth in Section 4.3 in either direct order of maturity, inverse order of
maturity or on a pro rata basis, as directed by the Borrower; but if the
unused portion of the Revolving Credit Commitment is less than $50,000,000 at the time of, and
after giving effect to, such prepayment, then such prepayment shall be applied to the
remaining scheduled quarterly principal installments of the Term Loan on a pro
rata basis. Each prepayment shall be accompanied by any amount required to be paid
pursuant to Section 5.9 hereof.

               (b) Mandatory Prepayments of Term Loan.

                    (i) Debt Proceeds. The Borrower shall make mandatory principal prepayments of the
Term Loan in the manner set forth in Section 4.4(b)(vii) below in amounts equal to one hundred
percent (100%) of the aggregate Net Cash Proceeds in excess of $1,000,000 in the aggregate during
any Fiscal Year from any incurrence of Debt not otherwise permitted pursuant to Section 11.1, by
the Borrower or any of its Restricted Subsidiaries. Such prepayment shall be made within three (3)
Business Days after the date of receipt of Net Cash Proceeds of any such transaction.

                    (ii) Subordinated Debt Proceeds. The Borrower shall make mandatory principal
prepayments of the Term Loan in the manner set forth in Section 4.4(b)(vii) below in amounts equal
to one hundred percent (100%) of the Net Cash Proceeds from any incurrence of Subordinated Debt
permitted pursuant to Section 11.1(f), or otherwise permitted by the Required Lenders, by the
Borrower or any of its Restricted Subsidiaries. Such prepayment shall be made within three (3)
Business Days after the date of receipt of Net Cash Proceeds of any such transaction.

                    (iii) Equity Proceeds. The Borrower shall make mandatory principal prepayments of the
Term Loan in the manner set forth in Section 4.4(b)(vii) below in amounts

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equal to fifty percent
(50%) of the aggregate Net Cash Proceeds from any offering of Capital Stock by the Borrower or any
of its Restricted Subsidiaries other than solely as a result of offerings of Capital Stock made in
connection with any employee stock option, incentive plan or stock purchase plan or made in
connection with compensation or incentive plans for directors officers and employees or the
exercise of any options or other convertible securities in connection therewith. Such prepayment
shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any
such transaction.

                    (iv) Asset Sale Proceeds. No later than one hundred eighty (180) days following the
Borrower’s or applicable Restricted Subsidiary’s receipt thereof, the Borrower shall make mandatory
principal prepayments of the Term Loan in the manner set forth in Section 4.4(b)(vii) below in
amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds in excess of
$10,000,000 in the aggregate during any Fiscal Year from the sale or other disposition or series of
related sales or other dispositions of assets by the Borrower or any of its Restricted Subsidiaries
other than sales or other dispositions of assets permitted pursuant to Section 11.5 (a) through
(h). Upon and during the continuance of an Event of Default and upon notice from the
Administrative Agent, all such Net Cash Proceeds received by the Borrower and its Restricted
Subsidiaries shall be applied to make prepayments of the Term Loan, such prepayments to be made
within three (3) Business Days after the Borrower’s or such Restricted Subsidiary’s receipt of all
such Net Cash Proceeds; provided that nothing in this sentence shall require the Borrower
to repay a greater amount of Net Cash Proceeds than it would be required to repay pursuant to the
first sentence of this Section 4.4(b)(iv).

                    (v) Insurance and Condemnation Proceeds. No later than one hundred eighty (180) days
following the date of receipt by the Borrower or any of its Restricted Subsidiaries of any Net Cash
Proceeds under any of the property hazard insurance policies maintained by the Borrower or any of
its Subsidiaries or from any condemnation proceeding (the “Insurance and Condemnation
Proceeds”) which have not been previously reinvested (whether before or after the receipt of
such Net Cash Proceeds) as of such date in similar replacement assets, the Borrower shall make
mandatory principal prepayments of the Term Loan in the manner set forth in Section 4.4(b)(vii)
below in amounts equal to one hundred percent (100%) of the aggregate amount of such Insurance and
Condemnation Proceeds in excess of $1,000,000 received by the Borrower or any of its Restricted
Subsidiaries with respect to each occurrence for which Insurance and Condemnation Proceeds are
received. Notwithstanding any of the foregoing to the contrary, upon and during the continuance of
an Event of Default and upon notice from the Administrative Agent, all Insurance and Condemnation
Proceeds received by the Borrower or its Restricted Subsidiaries shall be applied to make
prepayments of the Term Loan, such prepayments to be made within three (3) Business Days after the
Borrower’s or such Restricted Subsidiary’s receipt of all such Insurance and Condemnation Proceeds.

                    (vi) Excess Cash Flow. No later than one hundred (100) days after the end of any
Fiscal Year, the Borrower shall make mandatory principal prepayments of the Term Loan in the manner
set forth in Section 4.4(b)(vii) below in an amount equal to fifty percent (50%) of Excess Cash
Flow, if any, for such Fiscal Year.

                    (vii) Notice; Manner of Payment. Upon the occurrence of any event triggering the
prepayment requirement under Sections 4.4(b)(i) through and including 4.4(b)(vi),

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the Borrower
shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such
notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment under
Sections 4.4(b)(i) through and including 4.4(b)(v) shall be applied as follows: first, to
reduce the remaining scheduled quarterly principal repayment installments of the Term Loan on a
pro rata basis and second, to the extent of any excess, to temporarily
prepay the Revolving Credit Loans pursuant to Section 2.4(c). Each prepayment under Section
4.4(b)(vi) shall be applied as follows: first, to reduce the remaining scheduled quarterly
principal installments of the Term Loan set forth in Section 4.3 in either direct order of
maturity, inverse order of maturity or on a pro rata basis, as directed by the
Borrower and second, to the extent of any excess, to temporarily prepay the Revolving
Credit Loans pursuant to Section 2.4(c).

          Amounts repaid under the Term Loan pursuant to Section 4.3 or prepaid under the Term Loan
pursuant to this Section 4.4 may not be reborrowed and will constitute a permanent reduction in
such Term Loan Commitment. Each prepayment shall be accompanied by any amount required to be paid
pursuant to Section 5.9 hereof.

          Notwithstanding anything in this Section 4.4 to the contrary, any Term Loan Lender shall have
the right to refuse its pro rata share (based on Term Loan Percentage) of any such mandatory
prepayment, at which time the remaining amount shall be applied first, to temporarily reduce the
Revolving Credit Loans, and then, to the extent of any remaining funds, the Borrower may elect to
(a) prepay the outstanding Term Loan in the manner set forth in this Section 4.4 regardless of the
election of the Term Loan Lender or (b) retain such excess amount.

          No prepayment or repayment pursuant to this Section 4.4 shall affect any of the Borrower’s
obligations under any Hedging Agreement.

ARTICLE V

GENERAL LOAN PROVISIONS

     SECTION 5.1 Interest.

          (a) Interest Rate Options. Subject to the provisions of this Section 5.1, at the
election of the Borrower, (i) Revolving Credit Loans and the Term Loan shall bear interest at
(A) the Base Rate plus the Applicable Margin as set forth in Section 5.1(c) or (B) the
LIBOR Rate plus the Applicable Margin as set forth in Section 5.1(c) (provided
that the LIBOR Rate shall not be available until three (3) Business Days after the Closing
Date unless the Borrower has delivered to the Administrative Agent a letter in form and
substance satisfactory to the Administrative Agent indemnifying the Lenders in the manner set
forth in Section 5.9 of this Agreement) and (ii) any Swingline Loans shall bear interest at
the Base Rate plus the Applicable Margin. The Borrower shall select the rate of
interest and Interest Period, if any, applicable to any Loan at the time a Notice of Borrowing
is given pursuant to Section 2.3 or Section 4.2, as applicable, or at the time a Notice of
Conversion/Continuation is given pursuant to Section 5.2. Any Loan or any portion thereof as
to which the Borrower has not duly specified an interest rate as provided herein shall be
deemed a Base Rate Loan.

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          (b) Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by
giving notice at the times described in Section 5.1(a), shall elect an interest period (each,
an “Interest Period”) to be applicable to such Loan, which Interest Period shall be a
period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan;
provided that:

               (i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR
Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest
Period shall commence on the date on which the immediately preceding Interest Period expires;

               (ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such
Interest Period shall expire on the next succeeding Business Day; provided, that if any
Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a
Business Day but is a day of the month after which no further Business Day occurs in such month,
such Interest Period shall expire on the immediately preceding Business Day;

               (iii) any Interest Period with respect to a LIBOR Rate Loan that begins on the last Business
Day of a calendar month (or on a day for which there is no numerically corresponding day in the
calendar month at the end of such Interest Period) shall end on the last Business Day of the
relevant calendar month at the end of such Interest Period;

               (iv) no Interest Period shall extend beyond the Revolving Credit Maturity Date or the Term
Loan Maturity Date, as applicable, and the Borrower shall use reasonable efforts to select Interest
Periods so as to permit the Borrower to make the quarterly principal installment payments pursuant
to Section 4.3 without payment of any amounts pursuant to Section 5.9; and

               (v) there shall be no more than eight (8) Interest Periods in effect at any time.

               (c) Applicable Margin.

               (i) The Applicable Margin provided for in Section 5.1(a) with respect to any Revolving Credit
Loan, Swingline Loan or Term Loan shall be based upon the Leverage Ratio as of the end of the
fiscal quarter immediately preceding the delivery of the financial statements and the accompanying
Officer’s Compliance Certificate for such fiscal quarter, as follows:

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	Pricing Level	 	Leverage Ratio	 	Applicable LIBOR Margin	 	Applicable Base Rate Margin
	I

	 	Greater than 2.50 to 1.00
	 	 	1.625	%	 	 	0.625	%
	II

	 	Greater than or equal to
1.50 to 1.00 but less
than or equal to 2.50 to
1.00
	 	 	1.375	%	 	 	0.375	%
	III

	 	Less than 1.50 to 1.00
	 	 	1.125	%	 	 	0.125	%

               (ii) Adjustments, if any, in the Applicable Margin shall be made on the date (each a
“Calculation Date”) ten (10) Business Days after the date on which the Borrower provides
quarterly financial statements of the Borrower and its Subsidiaries and an accompanying Officer’s
Compliance Certificate setting forth the Leverage Ratio of the Borrower and its Subsidiaries for
the most recently ended fiscal quarter of the Borrower and its Subsidiaries; provided that
(A) the Applicable Margin shall be based on Pricing Level II until the first Calculation Date
occurring after the Closing Date and, thereafter the Pricing Level shall be determined by reference
to the Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower
preceding the applicable Calculation Date, and (B) if the Borrower fails to provide the Officer’s
Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the
Borrower and its Subsidiaries preceding the applicable Calculation Date, the Applicable Margin
shall be based on Pricing Level I (as shown above) from such Calculation Date until such time as an
appropriate Officer’s Compliance Certificate is provided, at which time the Applicable Margin shall
be determined by reference to the Leverage Ratio as of the last day of the most recently ended
fiscal quarter of the Borrower and its Subsidiaries preceding such Calculation Date. Except as
provided in the preceding sentence, the Applicable Margin shall be effective from one Calculation
Date until the next Calculation Date.

          (d) Default Rate. Subject to Section 12.3, (i) immediately upon the occurrence
and during the continuance of an Event of Default under Section 12.1 (a), (b), (h) or (i), or
(ii) at the election of the Required Lenders, upon the occurrence and during the continuance
of any other Event of Default, (A) the Borrower shall no longer have the option to request
LIBOR Rate Loans, Swingline Loans or Letters of Credit, (B) all outstanding LIBOR Rate Loans
shall bear interest at a rate per annum of two percent (2%) in excess of the rate then
applicable to LIBOR Rate Loans until the end of the applicable Interest Period and thereafter
at a rate equal to two percent (2%) in excess of the rate then applicable to Base Rate Loans,
and (C) all outstanding Base Rate Loans and other Obligations arising hereunder or under any
other Loan Document shall bear interest at a rate per annum equal to two percent (2%) in
excess of the rate then applicable to Base Rate Loans or such other Obligations arising
hereunder or under any other Loan Document. Interest shall continue to accrue on the
Obligations after the filing by or against the Borrower of any petition seeking any relief in
bankruptcy or under any act or law pertaining to insolvency or debtor relief, whether state,
federal or foreign.

          (e) Interest Payment and Computation. Interest on each Base Rate Loan shall be
payable in arrears on the last Business Day of each calendar quarter commencing March 31,
2007; and interest on each LIBOR Rate Loan shall be payable on the last day of

36

 

each Interest Period applicable thereto, and if such Interest Period extends over three
(3) months, at the end of each three (3) month interval during such Interest Period. Interest
on Base Rate Loans based on the Federal Funds Rate, LIBOR Rate Loans and all fees payable
hereunder shall be computed on the basis of a 360-day year and assessed for the actual number
of days elapsed and interest on Base Rate Loans based on the Prime Rate shall be computed on
the basis of a 365/366-day year and assessed for the actual number of days elapsed.

          (f) Maximum Rate. In no contingency or event whatsoever shall the aggregate of
all amounts deemed interest hereunder or under any of the Notes and charged or collected
pursuant to the terms of this Agreement or pursuant to any of the Notes exceed the highest
rate permissible under any Applicable Law which a court of competent jurisdiction shall, in a
final determination, deem applicable hereto. In the event that such a court determines that
the Lenders have charged or received interest hereunder in excess of the highest applicable
rate, the rate in effect hereunder shall automatically be reduced to the maximum rate
permitted by Applicable Law and the Lenders shall at the Administrative Agent’s option (i)
promptly refund to the Borrower any interest received by the Lenders in excess of the maximum
lawful rate or (ii) apply such excess to the principal balance
of the Obligations on a pro
rata basis. It is the intent hereof that the Borrower not pay or contract to pay, and that
neither the Administrative Agent nor any Lender receive or contract to receive, directly or
indirectly in any manner whatsoever, interest in excess of that which may be paid by the
Borrower under Applicable Law.

     SECTION 5.2 Notice and Manner of Conversion or Continuation of Loans. Provided that
no Default or Event of Default has occurred and is then continuing, the Borrower shall have the
option to (i) convert at any time following the third Business Day after the Closing Date all or
any portion of any outstanding Base Rate Loans (other than Swingline Loans) in a principal amount
equal to $5,000,000 or any whole multiple of $1,000,000 in excess thereof into one or more LIBOR
Rate Loans and (ii) upon the expiration of any Interest Period, (A) convert all or any part of its
outstanding LIBOR Rate Loans in a principal amount equal to $1,000,000 or a whole multiple of
$500,000 in excess thereof into Base Rate Loans (other than Swingline Loans) or (B) continue such
LIBOR Rate Loans as LIBOR Rate Loans. Whenever the Borrower desires to convert or continue Loans
as provided above, the Borrower shall give the Administrative Agent irrevocable prior written
notice in the form attached as Exhibit E (a “Notice of Conversion/Continuation”)
not later than 2:00 p.m. three (3) Business Days before the day on which a proposed conversion or
continuation of such Loan is to be effective specifying (i) the Loans to be converted or continued,
and, in the case of any LIBOR Rate Loan to be converted or continued, the last day of the Interest
Period therefor, (ii) the effective date of such conversion or continuation (which shall be a
Business Day), (iii) the principal amount of such Loans to be converted or continued, and (iv) the
Interest Period to be applicable to such converted or continued LIBOR Rate Loan. The
Administrative Agent shall promptly notify the Lenders of such Notice of Conversion/Continuation.

     SECTION 5.3 Fees.

          (a) Commitment Fee. Commencing on the Closing Date, the Borrower shall pay to the
Administrative Agent, for the account of the Revolving Credit Lenders, a non-refundable
commitment fee at a rate per annum equal to the applicable rate based upon

37

 

the table set forth below (the “Commitment Fee Rate”) on the average daily unused
portion of the Revolving Credit Commitment; provided that the amount of outstanding
Swingline Loans shall not be considered usage of the Revolving Credit Commitment for the
purpose of calculating such commitment fee. The commitment fee shall be payable in arrears on
the last Business Day of each calendar quarter during the term of this Agreement commencing
March 31, 2007, and ending on the Revolving Credit Maturity Date. Such commitment fee shall
be distributed by the Administrative Agent to the Revolving Credit Lenders pro
rata in accordance with such Lenders’ respective Revolving Credit Commitment
Percentages. The Commitment Fee Rate shall be determined and adjusted quarterly on each
Calculation Date; provided, however, that (a) the initial Commitment Fee Rate
shall be based on Pricing Level II (as shown below) and shall remain at Pricing Level II until
the first Calculation Date occurring after the Closing Date and thereafter the Pricing Level
shall be determined by reference to the Leverage Ratio as of the last day of the most recently
ended fiscal quarter of the Borrower preceding the applicable Calculation Date, and (b) if the
Borrower fails to provide the Officer’s Compliance Certificate as required by Section 8.2 for
the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation
Date, the Commitment Fee Rate from such Calculation Date shall be based on Pricing Level I (as
shown below) until such time as an appropriate Officer’s Compliance Certificate is provided,
at which time the Pricing Level shall be determined by reference to the Leverage Ratio as of
the last day of the most recently ended fiscal quarter of the Borrower preceding such
Calculation Date. Except as provided in the preceding sentence, the Commitment Fee Rate shall
be effective from one Calculation Date until the next Calculation Date.

	 	 	 	 	 	 	 
	Pricing Level	 	Leverage Ratio	 	Commitment Fee Rate
	I

	 	Greater than 2.50 to 1.00
	 	 	0.375	%
	II

	 	Greater than or equal to 1.50
to 1.00 but less than or equal
to 2.50 to 1.00
	 	 	0.300	%
	III

	 	Less than 1.50 to 1.00
	 	 	0.250	%

          (b) Arrangers’ and Other Fees. In order to compensate the Arrangers for
structuring and syndicating the Loans and the Administrative Agent for its obligations
hereunder, the Borrower agrees to pay to each Arranger and the Administrative Agent, for the
account of each Arranger, the Administrative Agent, the Lenders and their Affiliates, any fees
set forth in the separate fee letter agreement executed by the Borrower, the Administrative
Agent and each of the Arrangers dated November 17, 2006.

     SECTION 5.4 Manner of Payment. Each payment by the Borrower on account of the
principal of or interest on the Loans or of any fee, commission or other amounts (including the
Reimbursement Obligation) payable to the Lenders under this Agreement shall be made not later than
1:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the
Administrative Agent’s Office for the account of the Lenders (other than as set forth below)
pro rata in accordance with their respective Revolving Credit Commitment
Percentages or Term Loan Percentages, as applicable, (except as specified below), in Dollars, in
immediately available funds and shall be made without any set-off, counterclaim or deduction
whatsoever. Any payment received after such time but before 3:00 p.m. on such day shall be deemed
a payment on such date

38

 

for the purposes of Section 12.1, but for all other purposes shall be deemed to have been made
on the next succeeding Business Day. Any payment received after 3:00 p.m. shall be deemed to have
been made on the next succeeding Business Day for all purposes. Upon receipt by the Administrative
Agent of each such payment, the Administrative Agent shall distribute to each Lender at its address
for notices set forth herein its pro rata share of such payment in accordance with
such Lender’s Revolving Credit Commitment Percentage or Term Loan Percentage, as applicable,
(except as specified below) and shall wire advice of the amount of such credit to each Lender.
Each payment to the Administrative Agent of the L/C Participants’ commissions shall be made in like
manner, but for the account of the L/C Participants. Each payment to the Administrative Agent of
the Issuing Lender’s fees and expenses shall be made in like manner, but for the account of the
Issuing Lender. Each payment to the Administrative Agent of Administrative Agent’s fees or expenses
shall be made for the account of the Administrative Agent and any amount payable to any Lender
under Sections 5.8, 5.9, 5.11 or 14.2 shall be paid to the Administrative Agent for the account of
the applicable Lender. Subject to Section 5.1(b)(ii), if any payment under this Agreement shall be
specified to be made upon a day which is not a Business Day, it shall be made on the next
succeeding day which is a Business Day and such extension of time shall in such case be included in
computing any interest if payable along with such payment.

     SECTION 5.5 Evidence of Debt.

          (a) Extensions of Credit. The Extensions of Credit made by each Lender shall be
evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained
by the Administrative Agent and each Lender shall be conclusive absent manifest error of the
amount of the Extensions of Credit made by the Lenders to the Borrower and the interest and
payments thereon. Any failure to so record or any error in doing so shall not, however, limit
or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with
respect to the Obligations. In the event of any conflict between the accounts and records
maintained by any Lender and the accounts and records of the Administrative Agent in respect
of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender made through the Administrative
Agent, the Borrower shall execute and deliver to such Lender (through the Administrative
Agent) a Revolving Credit Note, Term Note and/or Swingline Note, as applicable, which shall
evidence such Lender’s Revolving Credit Loans, Term Loan and/or Swingline Loans, as
applicable, in addition to such accounts or records. Each Lender may attach schedules to its
Notes and endorse thereon the date, amount and maturity of its Loans and payments with respect
thereto.

          (b) Participations. In addition to the accounts and records referred to in
subsection (a), each Lender and the Administrative Agent shall maintain in accordance with its
usual practice accounts or records evidencing the purchases and sales by such Lender of
participations in Letters of Credit and Swingline Loans. In the event of any conflict between
the accounts and records maintained by the Administrative Agent and the accounts and records
of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.

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     SECTION 5.6 Adjustments. If any Lender shall, by exercising any right of setoff or
counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its
Loans or other obligations hereunder resulting in such Lender’s receiving payment of a proportion
of the aggregate amount of its Loans and accrued interest thereon or other such obligations (other
than pursuant to Sections 5.9, 5.10, 5.11 or 14.2 hereof) greater than its pro rata share thereof
as provided herein, then the Lender receiving such greater proportion shall (a) notify the
Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the
Loans and such other obligations of the other Lenders, or make such other adjustments as shall be
equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective Loans
and other amounts owing them; provided that

          (a) 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

          (b) the provisions of this paragraph shall not be construed to apply to (x) any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement or
(y) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or participations in Swingline Loans and Letters of Credit
to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to
which the provisions of this paragraph shall apply).

          Each Credit Party consents to the foregoing and agrees, to the extent it may effectively do so
under Applicable Law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against each Credit Party rights of setoff and counterclaim with respect
to such participation as fully as if such Lender were a direct creditor of each Credit Party in the
amount of such participation.

     SECTION 5.7 Obligations of Lenders.

          (a) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of
any borrowing that such Lender will not make available to the Administrative Agent such
Lender’s share of such borrowing, the Administrative Agent may assume that such Lender has
made such share available on such date in accordance with Sections 2.3(b) and 4.2 and may, in
reliance upon such assumption, make available to the Borrower a corresponding amount. In such
event, if a Lender has not in fact made its share of the applicable borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to
the Administrative Agent forthwith on demand such corresponding amount with interest thereon,
for each day from and including the date such amount is made available to the Borrower to but
excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to
be made by such Lender, the greater of the daily average Federal Funds Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation and (ii) in the case of a payment to be made by the Borrower, the interest rate
applicable to Base Rate Loans. If the Borrower and such Lender shall pay such

40

 

interest to the Administrative Agent for the same or an overlapping period, the
Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by
the Borrower for such period. If such Lender pays its share of the applicable borrowing to
the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included
in such borrowing. Any payment by the Borrower shall be without prejudice to any claim the
Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent.

          (b) Nature of Obligations of Lenders Regarding Extensions of Credit. The
obligations of the Lenders under this Agreement to make the Loans and issue or participate in
Letters of Credit are several and are not joint or joint and several. The failure of any
Lender to make available its Commitment Percentage of any Loan requested by the Borrower shall
not relieve it or any other Lender of its obligation, if any, hereunder to make its Commitment
Percentage of such Loan available on the borrowing date, but no Lender shall be responsible
for the failure of any other Lender to make its Commitment Percentage of such Loan available
on the borrowing date.

     SECTION 5.8 Changed Circumstances.

          (a) Circumstances Affecting LIBOR Rate Availability. If with respect to any
Interest Period the Administrative Agent or the Required Lenders (after consultation with the
Administrative Agent) shall determine that, by reason of circumstances affecting the foreign
exchange and interbank markets generally, adequate and reasonable means do not exist for
determining the LIBOR Rate for any requested Interest Period with respect to a LIBOR Rate
Loan, deposits in eurodollars, in the applicable amounts are not being offered to the
Administrative Agent or the Lenders for such Interest Period or that the LIBOR Rate for any
requested Interest Period with respect to a proposed LIBOR Rate Loan does not adequately and
fairly reflect the cost of funding such Loan, then the Administrative Agent shall forthwith
give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the
Borrower that such circumstances no longer exist, the obligation of the Lenders to make LIBOR
Rate Loans and the right of the Borrower to convert any Loan to or continue any Loan as a
LIBOR Rate Loan shall be suspended, and the Borrower shall repay in full (or cause to be
repaid in full) the then outstanding principal amount of each such LIBOR Rate Loan together
with accrued interest thereon, on the last day of the then current Interest Period applicable
to such LIBOR Rate Loan or convert the then outstanding principal amount of each such LIBOR
Rate Loan to a Base Rate Loan as of the last day of such Interest Period.

          (b) Laws Affecting LIBOR Rate Availability. If, after the date hereof, the
introduction of, or any change in, any Applicable Law 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 of the Lenders
(or any of their respective Lending Offices) with any request or directive (whether or not
having the force of law) of any such Governmental Authority, central bank or comparable
agency, shall make it unlawful or impossible for any of the Lenders (or any of their
respective Lending Offices) to honor its obligations hereunder to make or maintain any LIBOR
Rate Loan, such Lender shall promptly give notice thereof to

41

 

the Administrative Agent and the Administrative Agent shall promptly give notice to the
Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the
Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make
LIBOR Rate Loans and the right of the Borrower to convert any Loan or continue any Loan as a
LIBOR Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans
hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a LIBOR Rate
Loan to the end of the then current Interest Period applicable thereto as a LIBOR Rate Loan,
the applicable LIBOR Rate Loan shall immediately be converted to a Base Rate Loan for the
remainder of such Interest Period.

     SECTION 5.9 Indemnity. The Borrower hereby indemnifies each of the Lenders against
any loss or expense which may arise or be attributable to each Lender’s obtaining, liquidating or
employing deposits or other funds acquired to effect, fund or maintain any Loan (a) as a
consequence of any failure by the Borrower to make any payment when due of any amount due hereunder
in connection with a LIBOR Rate Loan, (b) due to any failure of the Borrower to borrow, continue or
convert on a date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation
or (c) due to any payment, prepayment or conversion of any LIBOR Rate Loan on a date other than the
last day of the Interest Period therefor. The amount of such loss or expense shall be determined,
in the applicable Lender’s sole discretion, based upon the assumption that such Lender funded its
Revolving Credit Commitment Percentage or Term Loan Percentage, as applicable, of the LIBOR Rate
Loans in the London interbank market and using any reasonable attribution or averaging methods
which such Lender deems appropriate and practical. A certificate of such Lender setting forth the
basis for determining such amount or amounts necessary to compensate such Lender shall be forwarded
to the Borrower through the Administrative Agent and shall be conclusively presumed to be correct
save for manifest error.

     SECTION 5.10 Increased Costs.

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

               (A) 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 advances,
loans or other credit extended or participated in by, any Lender (except any reserve requirement
reflected in the LIBOR Rate) or the Issuing Lender;

               (B) subject any Lender or the Issuing 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 Rate
Loan made by it, or change the basis of taxation of payments to such Lender or the Issuing Lender
in respect thereof (except for Indemnified Taxes or Other Taxes covered by Section 5.11 and the
imposition of, or any change in the rate of any Excluded Tax payable by such Lender or the Issuing
Lender); or

               (C) impose on any Lender or the Issuing Lender or the London interbank market any other
condition, cost or expense affecting this Agreement or LIBOR Rate Loans made by such Lender or any
Letter of Credit or participation therein;

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     and the result of any of the foregoing shall be to increase the cost to such Lender of making,
converting into or maintaining any LIBOR Rate Loan (or of maintaining its obligation to make any
such Loan), or to increase the cost to such Lender or the Issuing Lender of participating in,
issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or
to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such
Lender or the Issuing Lender hereunder (whether of principal, interest or any other amount) then,
upon written request of such Lender or the Issuing Lender, the Borrower shall promptly pay to any
such Lender or the Issuing Lender, as the case may be, such additional amount or amounts as will
compensate such Lender or the Issuing Lender, as the case may be, for such additional costs
incurred or reduction suffered.

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

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

          (d) Delay in Requests. Failure or delay on the part of any Lender or the Issuing
Lender to demand compensation pursuant to this Section shall not constitute a waiver of such
Lender’s or the Issuing Lender’s right to demand such compensation; provided that the
Borrower shall not be required to compensate a Lender or the Issuing Lender pursuant to this
Section for any increased costs incurred or reductions suffered more than 120 days prior to
the date that such Lender or the Issuing Lender, as the case may be, notifies the Borrower of
the Change in Law giving rise to such increased costs or reductions and of such Lender’s or
the Issuing Lender’s intention to claim compensation therefor (except that if the Change in
Law giving rise to such increased costs or reductions is retroactive, then the 120-day period
referred to above shall be extended to include the period of retroactive effect thereof).

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     SECTION 5.11 Taxes.

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

          (b) Payment of Other Taxes by the Borrower. Without limiting the provisions of
paragraph (a) above, the Borrower shall timely pay any Other Taxes to the relevant
Governmental Authority in accordance with Applicable Law.

          (c) Indemnification by the Borrower. The Borrower shall indemnify the
Administrative Agent, each Lender and the Issuing Lender, within thirty (30) days after
written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes
(including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts
payable under this Section) paid by the Administrative Agent, such Lender or the Issuing
Lender, as the case may be, and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by a
Lender or the Issuing Lender (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Lender, shall
be conclusive absent manifest error.

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

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

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withholding. In addition, any Lender, if requested by the Borrower or the Administrative
Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding
or information reporting requirements. Without limiting the generality of the foregoing, in
the event that the Borrower is a resident for tax purposes in the United States, any Foreign
Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as
shall be requested by the recipient) on or prior to the date on which such Foreign Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the request of
the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled
to do so), whichever of the following is applicable:

               (A) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor form
thereto) claiming eligibility for benefits of an income tax treaty to which the United States is a
party,

               (B) duly completed copies of Internal Revenue Service Form W-8ECI (or any successor form
thereto),

               (C) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio
interest under section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender
is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent
shareholder” of the Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a
“controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly
completed copies of Internal Revenue Service Form W-8BEN (or any successor form thereto), or

               (D) any other form prescribed by Applicable Law as a basis for claiming exemption from or a
reduction in United States Federal withholding tax duly completed together with such supplementary
documentation as may be prescribed by Applicable Law to permit the Borrower to determine the
withholding or deduction required to be made.

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

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tax returns (or any other information relating to its taxes which it deems confidential)
to the Borrower or any other Person.

          (g) Survival. Without prejudice to the survival of any other agreement of the
Borrower hereunder, the agreements and obligations of the Borrower contained in this Section
shall survive the payment in full of the Obligations and the termination of the Commitments.

     SECTION 5.12 Replacement of Lenders.

          (a) Request for Compensation. If any Lender requests compensation pursuant to
Section 5.10, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 5.11, 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 (A) would eliminate or reduce amounts payable pursuant to Section 5.10 or Section
5.11, as the case may be, in the future and (B) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment.

          (b) Lender Replacement. If any Lender requests compensation pursuant to Section
5.10, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 5.11, or if any
Lender shall refuse to consent to a waiver or amendment to, or a departure from the provisions
of this Agreement or any other Loan Document which requires the consent of all Lenders or all
Lenders directly affected thereby and that has been consented to by the Required Lenders,
then, in each case, the Borrower may, 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 14.10), all of its interests, rights and obligations
under this Agreement to an Eligible Assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment); provided that:

                    (i) the Borrower shall have paid to the Administrative Agent the assignment fee specified in
Section 14.10,

                    (ii) such Lender shall have received payment of an amount equal to the outstanding principal
of its Loans and participations in Letters of Credit, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder and under the other Loan Documents (including any amounts
under Section 5.9) from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Borrower (in the case of all other amounts),

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                    (iii) in the case of any such assignment resulting from a claim for compensation under Section
5.10 or payments required to be made pursuant to Section 5.11, such assignment will result in a
reduction in such compensation or payments thereafter, and

                    (iv) such assignment does not conflict with Applicable Law.

                    (v) A Lender shall not be required to make any such assignment or delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the
Borrower to require such assignment and delegation cease to apply.

          (c) Effect of Replacement. To the extent that any Lender (a “Replaced
Lender”) is required to assign all of its interests, rights and obligations under this
Agreement to an Eligible Assignee (a “Replacement Lender”) pursuant to this Section
5.12, upon the execution of all applicable assignment documents and the satisfaction of all
other conditions set forth herein, the Replacement Lender shall become a Lender hereunder and
the Replaced Lender shall cease to be a Lender hereunder, except with respect to the
indemnification provisions under this Agreement, which provisions shall survive as to such
Replaced Lender.

     SECTION 5.13 Security. The Obligations of the Borrower and the Guarantors shall be
secured as provided in the Security Documents.

ARTICLE VI

CLOSING; CONDITIONS OF CLOSING AND BORROWING

     SECTION 6.1 Closing. The closing shall take place at the offices of Kennedy Covington
Lobdell & Hickman, L.L.P. at 10:00 a.m. on December 15, 2006, or on such other place, date and time
as the parties hereto shall mutually agree.

     SECTION 6.2 Conditions to Closing and Initial Extensions of Credit. The obligation of
the Lenders to close this Agreement and to make the initial Loan or issue or participate in the
initial Letter of Credit, if any, is subject to the satisfaction of each of the following
conditions:

          (a) Executed Loan Documents. This Agreement, a Revolving Credit Note in favor of
each Lender requesting a Revolving Credit Note, a Term Note in favor of each Lender requesting
a Term Note, a Swingline Note in favor of the Swingline Lender (if requested thereby) and the
Security Documents, together with any other applicable Loan Documents, shall have been duly
authorized, executed and delivered to the Administrative Agent by the parties thereto, shall
be in full force and effect and no Default or Event of Default shall exist thereunder, and the
Borrower shall have delivered original counterparts thereof to the Administrative Agent.

          (b) Closing Certificates; etc.

                    (i) Officer’s Certificate of the Borrower. The Administrative Agent shall have
received a certificate from a Responsible Officer, in form and substance satisfactory to the
Administrative Agent, to the effect that all representations and warranties of the Borrower

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and
each Subsidiary thereof contained in this Agreement and the other Loan Documents are true, correct
and complete; that the Borrower and each Subsidiary thereof is not in violation of any of the
covenants contained in this Agreement and the other Loan Documents; that, after giving effect to
the transactions contemplated by this Agreement, no Default or Event of Default has occurred and is
continuing; and that the Borrower and each Subsidiary thereof has satisfied each of the closing
conditions.

                    (ii) Certificate of Secretary of the Credit Parties. The Administrative Agent shall
have received a certificate of the secretary or assistant secretary of each Credit Party certifying
as to the incumbency and genuineness of the signature of each officer of such Credit Party
executing Loan Documents to which it is a party and certifying that attached thereto is a true,
correct and complete copy of (A) the articles of incorporation, certificate of formation,
certificate of partnership or other organizational document, as applicable, of such Credit Party
and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority
in its jurisdiction of incorporation, (B) the bylaws, operating agreement or partnership agreement,
as applicable, of such Credit Party as in effect on the date of such certifications, (C)
resolutions duly adopted by the Board of Directors or other applicable governing authority of such
Credit Party authorizing the borrowings contemplated hereunder or the delivery of the Guaranty
Agreement and the Collateral Agreement, as the case may be, and the execution, delivery and
performance of this Agreement and the other Loan Documents to which it is a party, and (D) each
certificate required to be delivered pursuant to Section 6.2(b)(iii).

                    (iii) Certificates of Good Standing. The Administrative Agent shall have received (A)
certificates as of a recent date of the good standing of each Credit Party under the laws of its
jurisdiction of organization and (B) to the extent available from the applicable jurisdiction, a
certificate of the relevant taxing authorities of the jurisdiction of organization of each Credit
Party (other than Stored Value Card, Inc. and Jack in the Box Eastern Division, L.P.) certifying
that such Credit Party has filed required tax returns and owes no delinquent taxes.

                    (iv) Opinions of Counsel. The Administrative Agent shall have received favorable
opinions of counsel to each Credit Party addressed to the Administrative Agent and the Lenders with
respect to each Credit Party, the Loan Documents and such other matters as the Lenders shall
request.

                    (v) Tax Forms. The Administrative Agent shall have received copies of the United
States Internal Revenue Service forms required by Section 5.11(e).

          (c) Collateral.

                    (i) Filings and Recordings. All filings and recordations that are necessary to
perfect the security interests of the Lenders in the collateral described in the Security Documents
shall have been forwarded for filing in all appropriate locations and the Administrative Agent
shall have received evidence satisfactory thereto that upon such filings and
recordations such security interests constitute valid and perfected first priority Liens
therein, subject to any Liens permitted under Section 11.2.

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                    (ii) Pledged Collateral. The Administrative Agent shall have received original stock
certificates or other certificates evidencing the Capital Stock pledged pursuant to the Collateral
Agreement together with an undated stock power for each such certificate duly executed in blank by
the registered owner thereof.

                    (iii) Lien Search. The Administrative Agent shall have received the results of a Lien
search (including a search as to bankruptcy and tax matters) made against each Credit Party as
deemed necessary by the Administrative Agent, indicating among other things that its assets are
free and clear of any Lien except for Liens permitted hereunder.

                    (iv) Hazard and Liability Insurance. The Administrative Agent shall have received
certificates of property hazard, business interruption and liability insurance (naming the
Administrative Agent as additional insured on all certificates for liability insurance) and
evidence of payment of all insurance premiums for the current policy year of each such policy of
insurance.

          (d) Consents; Defaults.

                    (i) Governmental and Third Party Approvals. The Credit Parties shall have received
all governmental, shareholder and third party consents and approvals necessary (or any other
material consents as determined in the reasonable discretion of the Administrative Agent) in
connection with the transactions contemplated by this Agreement and the other Loan Documents and
the other transactions contemplated hereby and all applicable waiting periods shall have expired
without any action being taken by any Person that could reasonably be expected to restrain, prevent
or impose any material adverse conditions on any of the Credit Parties or such other transactions
or that could seek or threaten any of the foregoing.

                    (ii) No Injunction, Etc. No action, proceeding, investigation, regulation or
legislation shall have been instituted, threatened or proposed before any Governmental Authority
(including the SEC and any state securities regulatory authorities) to enjoin, restrain, or
prohibit, or to obtain substantial damages in respect of, or which is related to or arises out of
this Agreement, the other Loan Documents or the consummation of the transactions contemplated
hereby or thereby, or which, in the Administrative Agent’s sole discretion, would make it
inadvisable to consummate the transactions contemplated by this Agreement and such other Loan
Documents.

                    (iii) No Event of Default. No Default or Event of Default shall have occurred and be
continuing.

          (e) Financial Matters.

                    (i) Financial Statements. The Administrative Agent shall have received the most
recent audited Consolidated financial statements of the Borrower and its Subsidiaries, all in form
and substance satisfactory to the Administrative Agent and prepared in accordance with GAAP.

                    (ii) Financial Condition Certificate. The Borrower shall have delivered to the
Administrative Agent a certificate, in form and substance satisfactory to the

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Administrative Agent,
and certified as accurate by a Responsible Officer, that (A) the Borrower and the Credit Parties,
taken as a whole, are Solvent, (B) attached thereto are calculations evidencing compliance on a
pro forma basis with the covenants contained in Article X hereof and (C) the
financial projections previously delivered to the Administrative Agent represent the good faith
estimates (utilizing reasonable assumptions) of the financial condition and operations of the
Borrower and its Subsidiaries.

                    (iii) Payment at Closing; Fee Letters. The Borrower shall have paid to the Arrangers,
the Administrative Agent and the Lenders the fees set forth or referenced in Section 5.3 due on the
Closing Date and any other accrued and unpaid fees or commissions due hereunder (including, without
limitation, legal fees and expenses) and to any other Person such amount as may be due thereto in
connection with the transactions contemplated hereby, including all taxes, fees and other charges
in connection with the execution, delivery, recording, filing and registration of any of the Loan
Documents.

          (f) Miscellaneous.

                    (i) Notice of Borrowing. The Administrative Agent shall have received a Notice of
Borrowing, as applicable, from the Borrower in accordance with Section 2.3(a) and Section 4.2, and
a Notice of Account Designation specifying the account or accounts to which the proceeds of any
Loans made after the Closing Date are to be disbursed.

                    (ii) Repayment of Existing Credit Agreement and Release of Liens. The Existing Credit
Agreement shall have been repaid in full and all obligations of the Borrower and its Subsidiaries
(other than those obligations that specifically survive termination pursuant to the terms of the
Existing Credit Agreement) shall be terminated and all Liens securing the obligations under the
Existing Credit Agreement (other than Liens upon the Collateral securing the Obligations hereunder)
shall be released, in each case pursuant to and in accordance with a payoff letter in form and
substance reasonably satisfactory to the Administrative Agent.

                    (iii) Other Documents. All opinions, certificates and other instruments and all
proceedings in connection with the transactions contemplated by this Agreement shall be
satisfactory in form and substance to the Administrative Agent. The Administrative Agent shall
have received copies of all other documents, certificates and instruments reasonably requested
thereby, with respect to the transactions contemplated by this Agreement.

                    (iv) Rating of the Facility. The Facility shall have received a recent updated rating
from S&P and Moody’s.

     SECTION 6.3 Conditions to All Extensions of Credit. The obligations of the Lenders to
make any Extensions of Credit (including the initial Extension of Credit), convert or continue any
Loan and/or the Issuing Lender to issue or extend any Letter of Credit are subject to the
satisfaction of the following conditions precedent on the relevant borrowing, continuation,
conversion, issuance or extension date:

          (a) Continuation of Representations and Warranties. The representations and
warranties contained in Article VII shall be true and correct on and as of such borrowing,
continuation, conversion issuance or extension date with the same

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effect as if made on and as
of such date except for any representation and warranty that specifically refers to an earlier
date, which representation and warranty shall remain true and correct as of such earlier date.

          (b) No Existing Default. No Default or Event of Default shall have occurred and
be continuing (i) on the borrowing, continuation or conversion date with respect to such Loan
or after giving effect to the Loans to be made, continued or converted on such date or (ii) on
the issuance or extension date with respect to such Letter of Credit or after giving effect to
the issuance or extension of such Letter of Credit on such date.

          (c) Notices. The Administrative Agent shall have received a Notice of Borrowing
or Notice of Conversion/Continuation, as applicable, from the Borrower in accordance with
Section 2.3(a), Section 4.2 and Section 5.2.

     SECTION 6.4 Conditions to Delayed Term Loan Draw. In addition to the conditions set
forth in Section 6.3, the obligation of the Lenders to make the Term Loan in connection with the
Delayed Term Loan Draw is subject to the satisfaction of each of the following conditions, as of
the applicable date of such Delayed Term Loan Draw:

          (a) Governmental and Third Party Approvals Regarding the Tender Offer. To the
extent applicable, the Credit Parties shall have received all governmental, shareholder and
third party consents and approvals necessary (or any other material consents as determined in
the reasonable discretion of the Administrative Agent) in connection with the Tender Offer and
all applicable waiting periods shall have expired without any action being taken by any Person
that could reasonably be expected to restrain, prevent or impose any material adverse
conditions on any of the Credit Parties or the Tender Offer or that could seek or threaten any
of the foregoing.

          (b) No Injunction, Etc. No action, proceeding, investigation, regulation or
legislation shall have been instituted, threatened or proposed before any Governmental
Authority (including the SEC and any state securities regulatory authorities) to enjoin,
restrain, or prohibit, or to obtain substantial damages in respect of, or which is related to
or arises out of the Tender Offer or the consummation of the transactions contemplated
thereby, or which, in the Administrative Agent’s sole reasonable discretion, would make it
inadvisable to consummate the transactions contemplated by the Delayed Term Loan Draw.

ARTICLE VII

REPRESENTATIONS AND WARRANTIES OF THE BORROWER

     SECTION 7.1 Representations and Warranties. To induce the Administrative Agent and
Lenders to enter into this Agreement and to induce the Lenders to make Extensions of Credit, the
Borrower hereby represents and warrants to the Administrative Agent and Lenders both before and
after giving effect to the transactions contemplated hereunder that:

          (a) Organization; Power; Qualification. Each of the Borrower and its
Subsidiaries (i) is duly organized, validly existing and in good standing under the laws of

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the jurisdiction of its incorporation or formation, (ii) has the power and authority to own
its properties and to carry on its business as now being and hereafter proposed to be
conducted and (iii) except to the extent that the failure to do so could not reasonably be
expected to have a Material Adverse Effect, is duly qualified and authorized to do business in
each jurisdiction in which the character of its properties or the nature of its business
requires such qualification and authorization. The jurisdictions in which the Borrower and
its Subsidiaries are organized and qualified to do a material portion of their business as of
the Closing Date are described on Schedule 7.1(a).

          (b) Ownership. Each Subsidiary of the Borrower as of the Closing Date is listed
on Schedule 7.1(b). As of the Closing Date, the capitalization of the Borrower and
its Subsidiaries consists of the number of shares, authorized, issued and outstanding, of such
classes and series, with or without par value, described on Schedule 7.1(b). All
outstanding shares of the Borrower and its Subsidiaries have been duly authorized and validly
issued and are fully paid and nonassessable, with no personal liability attaching to the
ownership thereof, and not subject to any preemptive or similar rights. The shareholders of
the Subsidiaries of the Borrower and the number of shares owned by each as of the Closing Date
are described on Schedule 7.1(b). As of the Closing Date, there are no outstanding
stock purchase warrants, subscriptions, options, securities, instruments or other rights of
any type or nature whatsoever, which are convertible into, exchangeable for or otherwise
provide for or permit the issuance of Capital Stock of the Borrower, except as set forth in
the most recent audited financial statements thereof, or its Subsidiaries, except as described
on Schedule 7.1(b).

          (c) Authorization of Agreement, Loan Documents and Borrowing. Each of the
Borrower and its Restricted Subsidiaries has the right, power and authority and has taken all
necessary corporate and other action to authorize the execution, delivery and performance of
this Agreement and each of the other Loan Documents to which it is a party in accordance with
their respective terms. This Agreement and each of the other Loan Documents have been duly
executed and delivered by the duly authorized officers of the Borrower and each of its
Subsidiaries party thereto, and each such document constitutes the legal, valid and binding
obligation of the Borrower or its Subsidiary party thereto, enforceable in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar state or federal debtor relief laws from time to time in effect which
affect the enforcement of creditors’ rights in general and the availability of equitable
remedies.

          (d) Compliance of Agreement, Loan Documents and Borrowing with Laws, Etc. The
execution, delivery and performance by the Borrower and its Restricted Subsidiaries of the
Loan Documents to which each such Person is a party, in accordance with their respective
terms, the Extensions of Credit hereunder and the transactions contemplated hereby do not and
will not, by the passage of time, the giving of notice or otherwise, (i) require any
Governmental Approval or violate any Applicable Law relating to the Borrower or any of its
Subsidiaries, (ii) conflict with, result in a breach of or constitute a default under the
articles of incorporation, bylaws or other organizational
documents of the Borrower or any of its Subsidiaries or any indenture, material agreement
or other material instrument to which such Person is a party or by which any of its

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properties
may be bound or any Governmental Approval relating to such Person, (iii) result in or require
the creation or imposition of any Lien upon or with respect to any property now owned or
hereafter acquired by such Person other than Liens arising under the Loan Documents or (iv)
require any consent or authorization of, filing with, or other act in respect of, an
arbitrator or Governmental Authority and no consent of any other Person is required in
connection with the execution, delivery, performance, validity or enforceability of this
Agreement except, in each case, (A) as may be required by law affecting the offering and sale
of securities generally, (B) filings under the UCC and (C) those notices, consents and
authorizations which have been obtained prior to the Closing Date.

          (e) Compliance with Law; Governmental Approvals. Each of the Borrower and its
Subsidiaries (i) has all Governmental Approvals required by any Applicable Law for it to
conduct its business and complete the Tender Offer, each of which is in full force and effect,
is final and not subject to review on appeal and is not the subject of any pending or, to the
best of its knowledge, threatened attack by direct or collateral proceeding, (ii) is in
compliance with each Governmental Approval applicable to it and in compliance with all other
Applicable Laws relating to it or any of its respective properties and (iii) has timely filed
all material reports, documents and other materials required to be filed by it under all
Applicable Laws with any Governmental Authority, including any such reports, documents and
other materials required to be filed on or before the date hereof in connection with the
Tender Offer, and has retained all material records and documents required to be retained by
it under Applicable Law; except, in each case referred to in clauses (i), (ii) and (iii)
above, to the extent that the failure to comply with the terms thereof could not reasonably be
expected to have a Material Adverse Effect.

          (f) Tax Returns and Payments. Each of the Borrower and its Subsidiaries has
timely filed all federal, state, local and other tax returns required by Applicable Law, and
has paid all federal, state, local and other taxes, assessments, fees and other governmental
charges therein shown to be due and payable, except those which are being contested in good
faith by appropriate proceedings diligently conducted and for which adequate reserves have
been provided in accordance with GAAP. To the knowledge of the Responsible Officers of the
Borrower and its Subsidiaries, there is (i) no ongoing audit, examination or other
investigation by any Governmental Authority of the tax liability of the Borrower and its
Subsidiaries which could reasonably be expected to have a Material Adverse Effect, and (ii) no
proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a
Material Adverse Effect.

          (g) Intellectual Property Matters. Each of the Borrower and its Restricted
Subsidiaries owns or possesses rights to use all franchises, licenses, copyrights, copyright
applications, patents, patent rights or licenses, patent applications, trademarks, trademark
rights, service mark, service mark rights, trade names, trade name rights, copyrights and
rights with respect to the foregoing which are required to conduct its business. Except to
the extent that it could not reasonably be expected to have a Material Adverse Effect, no
event has occurred which permits, or after notice or lapse of time or both would permit, the
revocation or termination of any such rights, and neither the
Borrower nor any Restricted Subsidiary thereof is liable to any Person for infringement
under Applicable Law with respect to any such rights as a result of its business operations.

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          (h) Environmental Matters. Except as to matters which could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect:

                    (i) the properties owned, leased or operated by the Borrower and its Subsidiaries now do not
contain, and to their knowledge have not previously contained, any Hazardous Materials in amounts
or concentrations which (A) constitute or constituted a violation of applicable Environmental Laws
or (B) could give rise to liability under applicable Environmental Laws;

                    (ii) the Borrower, each Subsidiary and such properties and all operations conducted in
connection therewith are in compliance, and have been in compliance, with all applicable
Environmental Laws, and there is no contamination at, under or about such properties or such
operations which could interfere with the continued operation of such properties or impair the fair
saleable value thereof;

                    (iii) neither the Borrower nor any Subsidiary thereof has received any notice of violation,
alleged violation, non-compliance, liability or potential liability regarding environmental
matters, Hazardous Materials, or compliance with Environmental Laws, nor does the Borrower or any
Subsidiary thereof have knowledge or reason to believe that any such notice will be received or is
being threatened;

                    (iv) Hazardous Materials have not been transported or disposed of to or from the properties
owned, leased or operated by the Borrower and its Subsidiaries in violation of, or in a manner or
to a location which could give rise to liability under, Environmental Laws, nor have any Hazardous
Materials been generated, treated, stored or disposed of at, on or under any of such properties in
violation of, or in a manner that could give rise to liability under, any applicable Environmental
Laws;

                    (v) no judicial proceedings or governmental or administrative action is pending, or, to the
knowledge of the Borrower, threatened, under any Environmental Law to which the Borrower or any
Subsidiary thereof is or will be named as a potentially responsible party with respect to such
properties or operations conducted in connection therewith, nor are there any consent decrees or
other decrees, consent orders, administrative orders or other orders, or other administrative or
judicial requirements outstanding under any Environmental Law with respect to Borrower, any
Subsidiary or such properties or such operations; and

                    (vi) there has been no release, or to the best of the Borrower’s knowledge, threat of release,
of Hazardous Materials at or from properties owned, leased or operated by the Borrower or any
Subsidiary, now or in the past, in violation of or in amounts or in a manner that could give rise
to liability under Environmental Laws.

          (i) ERISA.

                    (i) As of the Closing Date, neither the Borrower nor any ERISA Affiliate maintains or
contributes to, or has any obligation under, any Pension Plans other than those identified on
Schedule 7.1(i);

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                    (ii) The Borrower and each ERISA Affiliate is in material compliance with all applicable
provisions of ERISA and the regulations and published interpretations thereunder with respect to
all Employee Benefit Plans except for any required amendments for which the remedial amendment
period as defined in Section 401(b) of the Code has not yet expired and except where a failure to
so comply could not reasonably be expected to have a Material Adverse Effect. Each Employee
Benefit Plan that is intended to be qualified under Section 401(a) of the Code has been determined
by the Internal Revenue Service to be so qualified, except for such plans that have not yet
received determination letters but for which the remedial amendment period for submitting a
determination letter has not yet expired. No liability has been incurred by the Borrower or any
ERISA Affiliate which remains unsatisfied for any taxes or penalties with respect to any Employee
Benefit Plan or any Multiemployer Plan except for a liability that could not reasonably be expected
to have a Material Adverse Effect;

                    (iii) As of the Closing Date, no Pension Plan has been terminated, nor has any accumulated
funding deficiency (as defined in Section 412 of the Code) been incurred (without regard to any
waiver granted under Section 412 of the Code), nor has any funding waiver from the Internal Revenue
Service been received or requested with respect to any Pension Plan, nor has the Borrower or any
ERISA Affiliate failed to timely make any contributions or to pay any amounts due and owing as
required by Section 412 of the Code, Section 302 of ERISA or the terms of any Pension Plan, in each
case where such event could reasonably be expected to have a Material Adverse Effect; nor has there
been any event requiring any disclosure under Section 4041(c)(3)(C) or 4063(a) of ERISA with
respect to any Pension Plan;

                    (iv) Except where the failure of any of the following representations to be correct in all
material respects could not reasonably be expected to have a Material Adverse Effect, neither the
Borrower nor any ERISA Affiliate has: (A) engaged in a nonexempt prohibited transaction described
in Section 406 of the ERISA or Section 4975 of the Code, (B) incurred any liability to the PBGC
which remains outstanding other than the payment of premiums and there are no premium payments
which are due and unpaid, (C) failed to make a required contribution or payment to a Multiemployer
Plan, or (D) failed to make a required installment or other required payment under Section 412 of
the Code;

                    (v) No Termination Event has occurred or is reasonably expected to occur; and

                    (vi) Except where the failure of any of the following representations to be correct could not
reasonably be expected to have a Material Adverse Effect, no proceeding, claim (other than a
benefits claim in the ordinary course of business), lawsuit and/or investigation is existing or, to
the knowledge of the Borrower, threatened concerning or involving any (A) employee welfare benefit
plan (as defined in Section 3(1) of ERISA) currently maintained or contributed to by the Borrower
or any ERISA Affiliate, (B) Pension Plan or (C) Multiemployer Plan.

          (j) Margin Stock. Neither the Borrower nor any Subsidiary thereof is engaged
principally or as one of its activities in the business of extending credit for the purpose of
“purchasing” or “carrying” (as each such term is defined or used, directly or indirectly, in
Regulation U and Regulation X) any Margin Stock. No part of the proceeds

55

 

of any of the Loans
or Letters of Credit will be used for any purpose which violates, or which would be
inconsistent with, the provisions of Regulation U or Regulation X.

          (k) Government Regulation. Neither the Borrower nor any Subsidiary thereof is an
“investment company” or a company “controlled” by an “investment company” (as each such term
is defined or used in the Investment Company Act of 1940, as amended) and neither the Borrower
nor any Subsidiary thereof is, or after giving effect to any Extension of Credit will be,
subject to regulation under the Interstate Commerce Act, as amended, or any other Applicable
Law which limits its ability to incur or consummate the transactions contemplated hereby.

          (l) Material Contracts. Schedule 7.1(l) sets forth a complete and
accurate list of all Material Contracts of the Borrower and its Subsidiaries in effect as of
the Closing Date not listed on any other Schedule hereto; other than as set forth in
Schedule 7.1(l), each such Material Contract is, and after giving effect to the
consummation of the transactions contemplated by the Loan Documents will be, in full force and
effect in accordance with the terms thereof. The Borrower and its Subsidiaries have delivered
to the Administrative Agent a true and complete copy of each written Material Contract
required to be listed on Schedule 7.1(l) or any other Schedule hereto. Neither the
Borrower nor any Subsidiary (nor, to the knowledge of the Borrower, any other party thereto)
is in breach of or in default under any Material Contract in any material respect.

          (m) Employee Relations. Each of the Borrower and its Subsidiaries has a stable
work force in place and is not, as of the Closing Date, party to any collective bargaining
agreement nor has any labor union been recognized as the representative of its employees. The
Borrower knows of no pending, threatened or contemplated strikes, work stoppage or other
collective labor disputes involving its employees or those of its Subsidiaries.

          (n) Burdensome Provisions. Neither the Borrower nor any Subsidiary thereof is a
party to any indenture, agreement, lease or other instrument, or subject to any corporate or
partnership restriction, Governmental Approval or Applicable Law which is so unusual or
burdensome as in the foreseeable future could be reasonably expected to have a Material
Adverse Effect. The Borrower and its Subsidiaries do not presently anticipate that future
expenditures needed to meet the provisions of any statutes, orders, rules or regulations of a
Governmental Authority will be so burdensome as to have a Material Adverse Effect. No
Subsidiary is party to any agreement or instrument or otherwise subject to any restriction or
encumbrance that restricts or limits its ability to make dividend payments or other
distributions in respect of its Capital Stock to the Borrower or any Subsidiary or to transfer
any of its assets or properties to the Borrower or any other Subsidiary in each case other
than (i) any such restriction or encumbrance existing under or by reason of the Loan Documents
or Applicable Law; (ii) customary restrictions on the transfer of the property subject to a
Capital Lease set forth in such Capital Lease provided
that such transfer restriction does not apply to any property other than the property
financed by such Capital Lease; (iii) customary restrictions with respect to a Subsidiary of
the Borrower pursuant to an agreement that has been entered into for the sale or disposition
(not otherwise prohibited by the Loan Documents) of all or substantially all of the Capital

56

 

Stock in, or assets of, such Subsidiary of the Borrower; (iv) customary non-assignment
provisions of any contract or lease, provided that such provisions are limited to
assets consisting of such contract or lease itself and include no other assets; and (v)
customary net worth provisions contained in leases and other agreements entered into by a
Subsidiary of the Borrower in the ordinary course of business.

          (o) Financial Statements. The audited Consolidated balance sheet of the Borrower
and its Subsidiaries as of October 1, 2006 and the related audited statements of income and
retained earnings and cash flows for the Fiscal Year then ended, copies of which have been
furnished to the Administrative Agent and each Lender, are complete and correct and fairly
present on a Consolidated basis the assets, liabilities and financial position of the Borrower
and its Subsidiaries as at such dates, and the results of the operations and changes of
financial position for the periods then ended (other than customary year-end adjustments for
unaudited financial statements). All such financial statements, including the related
schedules and notes thereto, have been prepared in accordance with GAAP. The Borrower and its
Subsidiaries have no Debt, obligation or other unusual forward or long-term commitment which
is not fairly reflected in the foregoing financial statements or in the notes thereto other
than Debt incurred in the ordinary course of business subsequent to the date thereof and
disclosed in writing to the Administrative Agent.

          (p) No Material Adverse Change. Except as publicly disclosed by the Borrower
prior to the Closing Date, since October 1, 2006, there has been no material adverse change in
the properties, business, operations or condition (financial or otherwise) of the Borrower and
its Subsidiaries and no event has occurred or condition arisen that could reasonably be
expected to have a Material Adverse Effect.

          (q) Solvency. As of the Closing Date and after giving effect to each Extension
of Credit made hereunder, the Borrower and the Credit Parties, taken as a whole, will be
Solvent.

          (r) Titles to Properties. Each of the Borrower and its Subsidiaries has such
title to the real property owned or leased by it as is necessary or desirable to the conduct
of its business and valid and legal title to all of its personal property and assets,
including, but not limited to, those reflected on the balance sheets of the Borrower and its
Subsidiaries delivered pursuant to Section 7.1(o), except those which have been disposed of by
the Borrower or its Subsidiaries subsequent to such date which dispositions have been in the
ordinary course of business or as otherwise expressly permitted hereunder.

          (s) Liens. None of the properties and assets of the Borrower or any Subsidiary
thereof is subject to any Lien, except Liens permitted pursuant to Section 11.2. Neither the
Borrower nor any Subsidiary thereof has signed any such financing statement or any security
agreement authorizing any secured party thereunder to file any such
financing statement with respect to any Lien remaining effective as of the Closing Date,
except to perfect those Liens permitted by Section 11.2.

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          (t) Debt and Guaranty Obligations. Schedule 7.1(t) is a complete and
correct listing of all Debt and Guaranty Obligations of the Borrower and its Subsidiaries as
of the Closing Date in excess of $2,500,000. The Borrower and its Subsidiaries have performed
and are in compliance in all material respects with all of the terms of such Debt and Guaranty
Obligations and all instruments and agreements relating thereto, and no default or event of
default, or event or condition which with notice or lapse of time or both would constitute
such a default or event of default on the part of the Borrower or any of its Subsidiaries
exists with respect to any such Debt or Guaranty Obligation.

          (u) Litigation. Except for matters existing on the Closing Date and set forth on
Schedule 7.1(u), there are no actions, suits or proceedings pending nor, to the
knowledge of the Borrower, threatened against or in any other way relating adversely to or
affecting the Borrower or any Subsidiary thereof or any of their respective properties in any
court or before any arbitrator of any kind or before or by any Governmental Authority except
for any such actions, suits or proceedings which individually and in the aggregate could not
reasonably be expected to have a Material Adverse Effect.

          (v) Absence of Defaults. No event has occurred or is continuing which
constitutes a Default or an Event of Default, or which constitutes, or which with the passage
of time or giving of notice or both would constitute, a default or event of default by the
Borrower or any Subsidiary thereof under any Material Contract or judgment, decree or order to
which the Borrower or its Subsidiaries is a party or by which the Borrower or its Subsidiaries
or any of their respective properties may be bound or which would require the Borrower or its
Subsidiaries to make any payment thereunder prior to the scheduled maturity date therefor.

          (w) Senior Debt Status. The Obligations of the Borrower and each of its
Restricted Subsidiaries under this Agreement and each of the other Loan Documents rank and
shall continue to rank senior in priority of payment to all Subordinated Debt of each such
Person and, to the extent applicable, is designated as “Senior Debt” or the equivalent thereof
under all instruments and documents relating to all Subordinated Debt of such Person. 

          (x) OFAC. None of the Borrower, any Subsidiary of the Borrower or any Affiliate
of the Borrower: (i) is a Sanctioned Person or (ii) is in violation of (A) the Trading with
the Enemy Act, as amended or modified from time to time, (B) any of the foreign assets control
regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as
amended or modified from time to time) or any enabling legislation or executive order relating
thereto or (C) the Patriot Act. The proceeds of any Loan will not be used and have not been
used to fund any operations in, finance any investments or activities in, or make any payments
to, a Sanctioned Person or a Sanctioned Entity.

     SECTION 7.2 Survival of Representations and Warranties, Etc. All representations and
warranties set forth in this Article VII and all representations and warranties contained in any
certificate, or any of the Loan Documents (including, but not limited to, any such representation
or warranty made in or in connection with any amendment thereto) shall constitute representations
and

58

 

warranties made under this Agreement. All representations and warranties made under this
Agreement shall be made or deemed to be made at and as of the Closing Date (except those that are
expressly made as of a specific date), shall survive the Closing Date and shall not be waived by
the execution and delivery of this Agreement, any investigation made by or on behalf of the Lenders
or any borrowing hereunder.

ARTICLE VIII

FINANCIAL INFORMATION AND NOTICES

          Until all the Obligations have been paid and satisfied in full and the Commitments terminated,
unless consent has been obtained in the manner set forth in Section 14.11, the Borrower will
furnish or cause to be furnished to the Administrative Agent at the Administrative Agent’s Office
at the address set forth in Section 14.1 and to the Lenders at their respective addresses as set
forth in the Register, or such other office as may be designated by the Administrative Agent and
Lenders from time to time:

     SECTION 8.1 Financial Statements and Projections.

               (a) Quarterly Financial Statements. As soon as practicable and in any event within
forty-five (45) days after the end of each fiscal quarter of each Fiscal Year (or, if either such
date is earlier, on the date of any required public filing thereof, or five (5) days following any
date on which the Borrower may be required to file such statements), an unaudited Consolidated
balance sheet of the Borrower and its Subsidiaries as of the close of such fiscal quarter and
unaudited Consolidated statements of income and cash flows for the fiscal quarter then ended and
that portion of the Fiscal Year then ended, including the notes thereto, all in reasonable detail
setting forth in comparative form the corresponding figures as of the end of and for the
corresponding period in the preceding Fiscal Year and prepared by the Borrower in accordance with
GAAP and, if applicable, containing disclosure of the effect on the financial position or results
of operations of any change in the application of accounting principles and practices during the
period, and certified by the chief financial officer or treasurer of the Borrower to present fairly
in all material respects the financial condition of the Borrower and its Subsidiaries on a
Consolidated basis as of their respective dates and the results of operations of the Borrower and
its Subsidiaries for the respective periods then ended, subject to normal year end adjustments.
Delivery by the Borrower to the Administrative Agent and the Lenders of Borrower’s quarterly report
to the SEC on Form 10-Q with respect to any fiscal quarter, or the availability of such quarterly
report on EDGAR Online or any other publicly available database, within the period specified above
shall be deemed to be compliance by the Borrower with this Section 8.1(a), provided that in the
case of a posting on EDGAR Online or any other applicable database, the Borrower shall promptly
notify the Administrative Agent (by telecopy or electronic mail) of the availability of such
documents and the website of such database. Notwithstanding anything contained herein, in every
instance the Borrower shall be required to provide paper copies of the Officer’s Compliance
Certificates required by Section 8.2 to the Administrative Agent. Except for such Officer’s
Compliance Certificates, the Administrative Agent shall have
no obligation to request the delivery or to maintain copies of the documents referred to
above, and in any event shall have no responsibility to monitor compliance by the Borrower with any
such request for delivery, and each Lender shall be solely responsible for requesting delivery to
it or maintaining its copies of such documents.

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               (b) Annual Financial Statements. As soon as practicable and in any event within
ninety (90) days after the end of each Fiscal Year (or, if either such date is earlier, on the date
of any required public filing thereof, or five (5) days following any date on which the Borrower
may be required to file such statements), an audited Consolidated balance sheet of the Borrower and
its Subsidiaries as of the close of such Fiscal Year and audited Consolidated statements of income,
retained earnings and cash flows for the Fiscal Year then ended, including the notes thereto, all
in reasonable detail setting forth in comparative form the corresponding figures as of the end of
and for the preceding Fiscal Year and prepared by an independent certified public accounting firm
acceptable to the Administrative Agent in accordance with GAAP and, if applicable, containing
disclosure of the effect on the financial position or results of operations of any change in the
application of accounting principles and practices during the year, and accompanied by a report
thereon by such certified public accountants that is not qualified with respect to scope
limitations imposed by the Borrower or any of its Subsidiaries or with respect to accounting
principles followed by the Borrower or any of its Subsidiaries not in accordance with GAAP.
Delivery by the Borrower to the Administrative Agent and the Lenders of Borrower’s annual report to
the SEC on Form 10-K with respect to any fiscal year, or the availability of such annual report on
EDGAR Online or any other publicly available database, within the period specified above shall be
deemed to be compliance by the Borrower with this Section 8.1(b), provided that in the case of a
posting on EDGAR Online or any other applicable database, the Borrower shall promptly notify the
Administrative Agent (by telecopy or electronic mail) of the availability of such documents and the
website of such database. Notwithstanding anything contained herein, in every instance the
Borrower shall be required to provide paper copies of the Officer’s Compliance Certificates
required by Section 8.2 to the Administrative Agent. Except for such Officer’s Compliance
Certificates, the Administrative Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have no responsibility
to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be
solely responsible for requesting delivery to it or maintaining its copies of such documents.

               (c) Annual Business Plan and Financial Projections. As soon as practicable and in any
event within thirty (30) days after the beginning of each Fiscal Year, a business plan of the
Borrower and its Subsidiaries for the ensuing four (4) fiscal quarters, such plan to be prepared in
accordance with GAAP and to include, on a quarterly basis, the following: a quarterly operating and
capital budget, a projected income statement, statement of cash flows and balance sheet and a
report containing management’s assumptions with respect to such projections, accompanied by a
certificate from the chief financial officer or treasurer of the Borrower to the effect that, to
the best of such officer’s knowledge, such projections are good faith estimates (utilizing
reasonable assumptions) of the financial condition and operations of the Borrower and its
Subsidiaries for such four (4) fiscal quarter period.

     SECTION 8.2 Officer’s Compliance Certificate. At each time financial statements are
delivered pursuant to Sections 8.1 (a) or (b) and at such other times as the Administrative Agent
shall reasonably request, a certificate of the chief financial officer or the treasurer of the
Borrower in the form of Exhibit F attached hereto (an “Officer’s Compliance
Certificate”).

     SECTION 8.3 Annual Accountants’ Certificate. At each time financial statements are
delivered pursuant to Section 8.1(b), a certificate of the independent public accountants
certifying

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such financial statements addressed to the Administrative Agent for the benefit of the
Lenders stating that in making the examination necessary for the certification of such financial
statements, they obtained no knowledge of any Default or Event of Default or, if such is not the
case, specifying such Default or Event of Default and its nature and period of existence.

     SECTION 8.4 Other Reports.

          (a) Promptly upon receipt thereof, copies of all reports, if any, submitted to the
Borrower or its Board of Directors by its independent public accountants in connection with
their auditing function, including, without limitation, any management report and any
management responses thereto; and

          (b) Such other information regarding the operations, business affairs and financial
condition of the Borrower or any of its Subsidiaries as the Administrative Agent or any Lender
may reasonably request.

     SECTION 8.5 Notice of Litigation and Other Matters. Prompt (but in no event later
than ten (10) days after an officer of the Borrower obtains knowledge thereof) telephonic and
written notice of:

          (a) the commencement of all proceedings and investigations by or before any Governmental
Authority and all actions and proceedings in any court or before any arbitrator against or
involving the Borrower or any Subsidiary thereof or any of their respective properties, assets
or businesses, which in any such case could reasonably be expected to have a Material Adverse
Effect;

          (b) any notice of any violation received by the Borrower or any Subsidiary thereof from
any Governmental Authority including, without limitation, any notice of violation of
Environmental Laws which in any such case could reasonably be expected to have a Material
Adverse Effect;

          (c) any labor controversy that has resulted in, or threatens to result in, a strike or
other work action against the Borrower or any Subsidiary thereof;

          (d) any attachment, judgment, lien, levy or order exceeding $1,000,000 that may be
assessed against or threatened against the Borrower or any Subsidiary thereof;

          (e) (i) any Default or Event of Default, (ii) the occurrence or existence of any event or
circumstance that foreseeably will become a Default or Event of Default or (iii) any event
which constitutes or which with the passage of time or giving of notice or both would
constitute a default or event of default by the Borrower or any Subsidiary or, to the
knowledge of the Borrower or any Subsidiary, any third party, under any Material
Contract to which the Borrower or any of its Subsidiaries is a party or by which the
Borrower or any Subsidiary thereof or any of their respective properties may be bound;

          (f) (i) any unfavorable determination letter from the Internal Revenue Service regarding
the qualification of an Employee Benefit Plan under Section 401(a) of the Code (along with a
copy thereof), (ii) all notices received by the Borrower or any

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ERISA Affiliate of the PBGC’s
intent to terminate any Pension Plan or to have a trustee appointed to administer any Pension
Plan, (iii) all notices received by the Borrower or any ERISA Affiliate from a Multiemployer
Plan sponsor concerning the imposition or amount of withdrawal liability pursuant to Section
4202 of ERISA and (iv) the Borrower obtaining knowledge that the Borrower or any ERISA
Affiliate has filed or intends to file a notice of intent to terminate any Pension Plan under
a distress termination within the meaning of Section 4041(c) of ERISA; and

          (g) any event which makes any of the representations set forth in Section 7.1 inaccurate
in any respect.

     SECTION 8.6 Extension of Time. Notwithstanding anything in this Agreement to the
contrary, the Administrative Agent may, in its sole discretion, extend the delivery deadline
applicable to any notice, certificate or other information required to be delivered under this
Article VIII for a period of time not to exceed five (5) Business Days.

     SECTION 8.7 Accuracy of Information. All written information, reports, statements and
other papers and data furnished by or on behalf of the Borrower to the Administrative Agent or any
Lender whether pursuant to this Article VIII or any other provision of this Agreement, or any of
the Security Documents, shall, at the time the same is so furnished, comply with the
representations and warranties set forth in 

Section 7.1(y).

     SECTION 8.8 Public/Private Designation for Borrower Materials. The Borrower hereby
acknowledges that (a) the Administrative Agent and/or either Arranger will make available to the
Lenders and the Issuing Lender written materials and/or information provided by or on behalf of the
Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials
on SyndTrak Online or another similar electronic system (the “Platform”) and (b) certain of
the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive
material non-public information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that it will use commercially reasonable
efforts to identify that portion of the Borrower Materials that may be distributed to the Public
Lenders and that (w) all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have
authorized the Administrative Agent, the Arrangers, the Issuing Lender and the Lenders to treat
such Borrower Materials as not containing any material non-public information (although it may be
sensitive and proprietary) with respect to the Borrower or its securities for purposes of United
States Federal and state securities laws; (y) all Borrower Materials marked “PUBLIC” are permitted
to be made available through a portion of the Platform designated “Public Investor;” and (z) the
Administrative Agent and the Arrangers shall be entitled to treat any Borrower Materials that are
not marked “PUBLIC” as being suitable only for posting on a portion of the
Platform not designated “Public Investor.” Notwithstanding any other provision of this
Section, to the extent such Borrower Materials constitute Information, they shall be treated as set
forth in Section 14.12.

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ARTICLE IX

AFFIRMATIVE COVENANTS

     Until all of the Obligations have been paid and satisfied in full and the Commitments
terminated, unless consent has been obtained in the manner provided for in Section 14.11, the
Borrower will, and will cause each of its Restricted Subsidiaries to:

     SECTION 9.1 Preservation of Corporate Existence and Related Matters. Except as
permitted by Section 11.4, preserve and maintain its separate corporate existence and all material
rights, franchises, licenses and privileges necessary to the conduct of its business, and qualify
and remain qualified as a foreign corporation and authorized to do business in each jurisdiction in
which the failure to so qualify could reasonably be expected to have a Material Adverse Effect.

     SECTION 9.2 Maintenance of Property. In addition to the requirements of any of the
Security Documents, protect and preserve all properties useful in and material to its business in
accordance with sound business practices, including copyrights, patents, trade names, service marks
and trademarks; maintain in good working order and condition in accordance with sound business
practices all buildings, equipment and other tangible real and personal property; and from time to
time make or cause to be made all renewals, replacements and additions to such property necessary
for the conduct of its business, so that the business carried on in connection therewith may be
conducted in a commercially reasonable manner.

     SECTION 9.3 Insurance. Maintain insurance with financially sound and reputable
insurance companies against such risks and in such amounts as are customarily maintained by similar
businesses and as may be required by Applicable Law and as are required by any Security Documents,
and on the Closing Date and from time to time thereafter deliver to the Administrative Agent upon
its request a detailed list of the insurance then in effect, stating the names of the insurance
companies, the amounts and rates of the insurance, the dates of the expiration thereof and the
properties and risks covered thereby.

     SECTION 9.4 Accounting Methods and Financial Records. Maintain a system of
accounting, and keep such books, records and accounts (which shall be true and complete in all
material respects) as may be required or as may be necessary to permit the preparation of financial
statements in accordance with GAAP and in compliance with the regulations of any Governmental
Authority having jurisdiction over it or any of its properties.

     SECTION 9.5 Compliance With Laws and Approvals. Observe and remain in compliance in
all material respects with all Applicable Laws and maintain in full force and effect all material
Governmental Approvals, in each case applicable to the conduct of its business.

     SECTION 9.6 Environmental Laws. In addition to and without limiting the generality of
Section 9.5, (a) materially comply with, and ensure such material compliance by all tenants and
subtenants with all applicable Environmental Laws and obtain and comply with and maintain, and
ensure that all tenants and subtenants, if any, obtain and comply with and maintain, any and all
licenses, approvals, notifications, registrations or permits required by applicable Environmental
Laws, (b) conduct and complete all investigations, studies, sampling and testing, and all remedial,
removal and other actions required under Environmental Laws, and promptly comply with all

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lawful
orders and directives of any Governmental Authority regarding Environmental Laws, and (c) defend,
indemnify and hold harmless the Administrative Agent and the Lenders, and their respective parents,
Subsidiaries, Affiliates, employees, agents, officers and directors, from and against any claims,
demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind
or nature known or unknown, contingent or otherwise, arising out of, or in any way relating to the
presence of Hazardous Materials, or the violation of, noncompliance with or liability under any
Environmental Laws applicable to the operations of the Borrower or any such Restricted Subsidiary,
or any orders, requirements or demands of Governmental Authorities related thereto, including,
without limitation, reasonable attorney’s and consultant’s fees, investigation and laboratory fees,
response costs, court costs and litigation expenses, except to the extent that any of the foregoing
directly result from the gross negligence or willful misconduct of the party seeking
indemnification therefor as determined by a court of competent jurisdiction by final nonappealable
judgment.

     SECTION 9.7 Compliance with ERISA. In addition to and without limiting the generality
of Section 9.5, (a) except where the failure to so comply could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect, (i) comply with all material
applicable provisions of ERISA and the regulations and published interpretations thereunder with
respect to all Employee Benefit Plans, (ii) not take any action or fail to take action the result
of which could be a liability to the PBGC or to a Multiemployer Plan, (iii) not participate in any
prohibited transaction that could result in any civil penalty under ERISA or tax under the Code and
(iv) operate each Employee Benefit Plan in such a manner that will not incur any tax liability
under Section 4980B of the Code or any liability to any qualified beneficiary as defined in Section
4980B of the Code and (b) furnish to the Administrative Agent upon the Administrative Agent’s
request such additional information about any Pension Plan as may be reasonably requested by the
Administrative Agent to confirm compliance with this Section.

     SECTION 9.8 Visits and Inspections. Permit representatives of the Administrative
Agent or any Lender, from time to time, to visit and inspect its properties; inspect, audit and
make extracts from its books, records and files, including, but not limited to, management letters
prepared by independent accountants; and discuss with its principal officers, and its independent
accountants, its business, assets, liabilities, financial condition, results of operations and
business prospects.

     SECTION 9.9 Additional Subsidiaries.

               (a) Additional Domestic Subsidiary. Notify the Administrative Agent of (i) the
redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary in accordance with Section
9.9(c) below or (ii) the creation or acquisition of any Domestic Subsidiary, and (unless such
Domestic Subsidiary has been designated as an Unrestricted Subsidiary pursuant to Section
9.9(d)) promptly thereafter (and in any event within thirty (30) days), cause such Person to
(A) become a Guarantor by executing and delivering to the Administrative Agent a counterpart of the
Guaranty Agreement or such other document as the Administrative Agent shall deem appropriate for
such purpose, (B) deliver to the Administrative Agent a duly executed Joinder Agreement and comply
with the terms of each Security Document, (C) deliver to the Administrative Agent documents of the
types referred to in clauses (ii) and (iii) of Section 6.2(b) and (D) deliver to the Administrative
Agent such other documents and closing certificates (and including, without

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limitation, opinions of
counsel to such Person) as may be reasonably requested by the Administrative Agent, all in form,
content and scope reasonably satisfactory to the Administrative Agent.

               (b) Additional Foreign Subsidiaries. Notify the Administrative Agent at the time that
any Person becomes a first tier Foreign Subsidiary of the Borrower or any Restricted Subsidiary,
and at the request of the Administrative Agent, promptly thereafter (and in any event within
forty-five (45) days after such request), cause (i) the Borrower or applicable Restricted
Subsidiary to deliver to the Administrative Agent a supplement to the Security Documents pledging
sixty-six percent (66%) of the total outstanding voting ownership interest or Capital Stock (and
100% of the non-voting ownership interest or Capital Stock) of such new Foreign Subsidiary and a
consent thereto executed by such new Foreign Subsidiary (including, without limitation, if
applicable, original stock certificates (or the equivalent thereof pursuant to the Applicable Laws
and practices of any relevant foreign jurisdiction) evidencing the ownership interest or Capital
Stock of such new Foreign Subsidiary, together with an appropriate undated stock power for each
certificate duly executed in blank by the registered owner thereof), (ii) such Person to deliver to
the Administrative Agent documents of the types referred to in clauses (ii) and (iii) of Section
6.2(b), and (iii) such Person to deliver to the Administrative Agent such other documents and
closing certificates (and including, without limitation, opinions of counsel to such Person) as may
be reasonably requested by the Administrative Agent, all in form, content and scope reasonably
satisfactory to the Administrative Agent.

               (c) Redesignation of Unrestricted Subsidiaries. At any time, at the option of the
Borrower, upon written notice to the Administrative Agent, redesignate an Unrestricted Subsidiary
as a Restricted Subsidiary. Further, promptly after the date on which the Borrower or the
Administrative Agent determines that either (i) any Unrestricted Subsidiary and its Subsidiaries
individually represent two and one half percent (2.5%) or more of (A) the Consolidated EBITDA of
the Borrower and its Subsidiaries for the four (4) consecutive fiscal quarters most recently ended
prior to such date or (B) the Consolidated assets of the Borrower and its Subsidiaries as of the
most recently ended fiscal quarter prior to such date or (ii) all Unrestricted Subsidiaries and
their respective Subsidiaries collectively represent in the aggregate five percent (5%) or more of
(A) the Consolidated EBITDA of the Borrower and its Subsidiaries for the four (4) consecutive
fiscal quarters most recently ended prior to such date or (B) the Consolidated assets of the
Borrower and its Subsidiaries as of the most recently ended fiscal quarter prior to such date, then
the Borrower shall promptly identify in writing to the Administrative Agent such Unrestricted
Subsidiaries to be redesignated as Restricted Subsidiaries to cause such remaining Unrestricted
Subsidiaries and their Subsidiaries (after giving effect to such redesignation) to individually
represent less than two and one half percent (2.5%) of each of the Consolidated EBITDA of the
Borrower and its Subsidiaries for the four (4) consecutive fiscal quarters most recently ended
prior to such date and the Consolidated assets
of the Borrower and its Subsidiaries as of the most recently ended fiscal quarter prior to
such date and collectively represent in the aggregate less than five percent (5%) of each of the
Consolidated EBITDA of the Borrower and its Subsidiaries for the four (4) consecutive fiscal
quarters most recently ended prior to such date and the Consolidated assets of the Borrower and its
Subsidiaries as of the most recently ended fiscal quarter prior to such date.

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               (d) Designation of Restricted Subsidiaries. So long as no Default or Event of Default
has occurred and is continuing, at the option of the Borrower, on prior written notice to the
Administrative Agent, redesignate any Restricted Subsidiary as an Unrestricted Subsidiary (or
designate any newly formed or acquired Subsidiary as an Unrestricted Subsidiary; provided
that such formation or acquisition is otherwise permitted hereunder), so long as the Administrative
Agent reasonably determines that at the time of such proposed designation (or redesignation, as
applicable), and after giving effect thereto, the Unrestricted Subsidiaries and their respective
Subsidiaries (including the Subsidiary and its respective Subsidiaries to be designated or
redesignated, as applicable, as an Unrestricted Subsidiary) (i) individually represent less than
two and one half percent (2.5%) of each of (A) the Consolidated EBITDA of the Borrower and its
Subsidiaries for the four (4) consecutive fiscal quarters most recently ended prior to such date
and (B) the Consolidated assets of the Borrower and its Subsidiaries as of the most recently ended
fiscal quarter prior to such date and (ii) collectively represent in the aggregate less than five
percent (5%) of each of (A) the Consolidated EBITDA of the Borrower and its Subsidiaries for the
four (4) consecutive fiscal quarters most recently ended prior to such date and (B) the
Consolidated assets of the Borrower and its Subsidiaries as of the most recently ended fiscal
quarter prior to such date. Such designation (or redesignation, as applicable) shall have an
effective date mutually acceptable to the Administrative Agent and Borrower, but in no event
earlier than five (5) Business Days following receipt by the Administrative Agent of such written
notice.

               (e) Additional Collateral. Notify the Administrative Agent, within ten (10) days
after the occurrence thereof, of the acquisition of any property by the Borrower or any Restricted
Subsidiary that is of the same type and character of the Collateral subject to any Security
Document, but that is not subject to the existing Security Documents (taking into account any
after-acquired property provisions thereof), any Person’s becoming a Subsidiary and any other event
or condition that may require additional action of any nature in order to preserve the
effectiveness and perfected status of the Liens and security interests of the Administrative Agent
and the Lenders with respect to the Collateral pursuant to the Security Documents.

     SECTION 9.10 Use of Proceeds.

          (a) Use the proceeds of the Revolving Credit Loans and any Letters of Credit (i) to finance
permitted share repurchases, permitted dividends, Permitted Acquisitions, ongoing working capital
requirements and other general corporate purposes of the Borrower and its Restricted Subsidiaries
and (ii) notwithstanding anything to the contrary contained in clause (i) of this paragraph (a),
only to the extent the proceeds of the Initial Term Loan Draw or the Delayed Term Loan Draw, as
applicable, are not sufficient, to (A) repay existing Debt of the Borrower in connection with the
Existing Credit Agreement or finance the Tender Offer and (B) pay fees and expenses incurred in
connection with (1) this Agreement, (2) the repayment of Debt under the Existing Credit Agreement
or (3) the Tender Offer.

          (b) Use the proceeds of the Initial Term Loan Draw (i) to repay existing Debt of the Borrower
in connection with the Existing Credit Agreement, (ii) to pay fees and expenses incurred in
connection with this Agreement and the repayment of Debt under the Existing Credit Agreement and
(iii) for ongoing working capital requirements and other general corporate purposes, other than the
items contemplated by Section 9.10(c)(i) and (ii).

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          (c) Use the proceeds of the Delayed Term Loan Draw (i) to finance the Tender Offer, (ii) to
pay fees and expenses incurred in connection with the Tender Offer and (iii) for ongoing working
capital requirements and other general corporate purposes.

     SECTION 9.11 Retirement of Stock. Retire or cancel, in compliance with all Applicable
Law, all Capital Stock of the Borrower repurchased pursuant to the Tender Offer.

     SECTION 9.12 Further Assurances. Make, execute and deliver all such additional and
further acts, things, deeds and instruments as the Administrative Agent or the Required Lenders
(through the Administrative Agent) may reasonably require to document and consummate the
transactions contemplated hereby and to vest completely in and insure the Administrative Agent and
the Lenders their respective rights under this Agreement, the Letters of Credit and the other Loan
Documents.

ARTICLE X

FINANCIAL COVENANTS

          Until all of the Obligations have been paid and satisfied in full and the Commitments
terminated, unless consent has been obtained in the manner set forth in Section 14.11, the Borrower
and its Subsidiaries on a Consolidated basis will not:

     SECTION 10.1 Maximum Leverage Ratio. As of any fiscal quarter end, permit the ratio
of (a) Funded Debt on such date to (b) EBITDA for the four (4) consecutive fiscal quarter period
ending on or immediately prior to such date (such ratio, the “Leverage Ratio”) to be
greater than the corresponding ratio set forth below:

	 	 	 
	Period	 	Maximum Ratio
	Closing Date to and including

September 28, 2008

	 	2.75 to 1.00
	September 29, 2008 to and including

September 27, 2009

	 	2.50 to 1.00
	Thereafter

	 	2.25 to 1.00

     SECTION 10.2 Minimum Fixed Charge Coverage Ratio. As of any fiscal quarter end,
permit the ratio of (a) the sum of (i) EBITDAR for the four (4) consecutive fiscal quarter period
ending on or immediately prior to such date less (ii) maintenance Capital Expenditures for
the four (4) consecutive fiscal quarter period ending on or immediately prior to such date to (b)
the sum of (i) Rental Expense for the four (4) consecutive fiscal quarter period ending on or
immediately prior
to such date plus (ii) Interest Expense for the four (4) consecutive fiscal quarter
period ending on or immediately prior to such date plus (iii) the sum of all scheduled
principal payments made in respect of the Term Loan Facility pursuant to Section 4.3 for the four
(4) consecutive fiscal quarter period ending on or immediately prior to such date to be less than
1.35 to 1.00.

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     SECTION 10.3 Maximum Capital Expenditures. Permit the aggregate amount of all Capital
Expenditures less Capital Expenditures related to Permitted Sale-Leaseback Transactions in
any Fiscal Year to exceed the corresponding maximum amount set forth below:

	 	 	 	 	 
	Fiscal Year	 	Maximum Amount
	2007
	 	$	200,000,000	 
	2008
	 	$	225,000,000	 
	2009
	 	$	225,000,000	 
	2010
	 	$	200,000,000	 
	2011
	 	$	175,000,000	 
	2012
	 	$	175,000,000	 

          Notwithstanding the foregoing, any unused Capital Expenditure allowance with respect to any
Fiscal Year may be carried over to the immediately following Fiscal Year, on a non-cumulative
basis; provided, that the amount of any Capital Expenditures in any Fiscal Year shall be
deemed made first, in respect of maximum Capital Expenditures for such Fiscal Year and
second, in respect of amounts carried over from the prior Fiscal Year; and provided
further, the amount carried over from any Fiscal Year shall in no event exceed ten percent
(10%) of the maximum Capital Expenditure allowance for such Fiscal Year.

ARTICLE XI

NEGATIVE COVENANTS

          Until all of the Obligations have been paid and satisfied in full and the Commitments
terminated, unless consent has been obtained in the manner set forth in Section 14.11, the Borrower
has not and will not and will not permit any of its Restricted Subsidiaries to:

     SECTION 11.1 Limitations on Debt.

          Create, incur, assume or suffer to exist any Debt except:

          (a) the Obligations (excluding Hedging Obligations permitted pursuant to Section
11.1(b));

          (b) Debt incurred in connection with a Hedging Agreement (i) with a counterparty and upon
terms and conditions (including interest rate) reasonably satisfactory to the Administrative
Agent or (ii) described on Schedule 11.1(b); provided, that any counterparty
that is a Lender or an Affiliate of a Lender shall be deemed satisfactory to the
Administrative Agent.

          (c) Debt existing on the Closing Date and not otherwise permitted under this Section
11.1, as set forth on Schedule 11.1(c), and the renewal, refinancing, extension and
replacement (but not the increase in the aggregate principal amount) thereof;

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          (d) Debt of the Borrower and its Restricted Subsidiaries incurred in connection with
Capital Leases in an aggregate amount not to exceed $25,000,000 outstanding at any time;

          (e) purchase money Debt of the Borrower and its Restricted Subsidiaries in an aggregate
principal amount not to exceed $10,000,000 outstanding at any time;

          (f) Subordinated Debt; provided that in the case of each issuance of Subordinated
Debt, (i) no Default or Event of Default shall have occurred and be continuing or would be
caused by the issuance of such Subordinated Debt, (ii) the Administrative Agent shall have
received satisfactory written evidence that the Borrower would be in compliance with all
covenants contained in this Agreement on a pro forma basis after giving effect
to the issuance of any such Subordinated Debt and (iii) the Borrower shall have complied with
the requirements of Section 4.4(b)(ii);

          (g) unsecured Debt of the Borrower and its Restricted Subsidiaries not otherwise
permitted pursuant to this Section 11.1 in an aggregate principal amount not to exceed
$25,000,000 outstanding at any time;

          (h) Guaranty Obligations with respect to the Obligations;

          (i) Debt owed by any Restricted Subsidiary to the Borrower, by the Borrower to any
Restricted Subsidiary, or by any Restricted Subsidiary to another Restricted Subsidiary;

          (j) Guaranty Obligations incurred by Borrower with respect to Debt of any Restricted
Subsidiary;

          (k) Debt consisting of Capital Leases entered into pursuant to Permitted Sale-Leaseback
Transactions;

          (l) indorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; surety bonds and appeal bonds required in the
ordinary course of business or in connection with the enforcement of rights or claims of the
Borrower or any Restricted Subsidiary or in connection with judgments that do not result in a
Default or Event of Default;

          (m) Debt incurred solely in connection with financing the Innovation Center Property in
an aggregate principal amount not to exceed $25,000,000;

          (n) Debt of the Borrower or any of its Restricted Subsidiaries consisting of all
obligations, contingent or otherwise, of the Borrower or any of its Restricted Subsidiaries
relative to the face amount of the Independent Letters of Credit, whether
drawn or undrawn, including, without limitation, any reimbursement obligations in
connection with the Independent Letters of Credit;

          (o) Debt (i) existing at the time that any Person became a Restricted Subsidiary or
assets were acquired from such Person in connection with a Permitted

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Acquisition or (ii)
payable to the Person, or the beneficial holders of Capital Stock in the Person, whose
assets or Capital Stock are acquired in a Permitted Acquisition in order to finance all or a
portion of the consideration in respect of such Permitted Acquisition, provided that
the aggregate principal amount of such Debt outstanding at any time which may be recourse to
the Borrower or any of its Restricted Subsidiaries (other than such Person whose assets or
Capital Stock is being acquired or any other Person that such Person merges with or that
acquires the assets of such Person) shall not exceed $50,000,000; and

          (p) any obligations constituting Debt of the Borrower to repurchase or otherwise make
payments in respect of its Capital Stock arising pursuant to or in connection with the
Tender Offer;

     provided, that no agreement or instrument with respect to Debt permitted to be
incurred by this Section shall restrict, limit or otherwise encumber (by covenant or otherwise) the
ability of any Subsidiary of the Borrower to make any payment to the Borrower or any of its
Subsidiaries (in the form of dividends, intercompany advances or otherwise) for the purpose of
enabling the Borrower to pay the Obligations and further provided, that in no event
shall the Borrower or any of its Subsidiaries incur, assume or suffer to exist any Guaranty
Obligations with respect to Debt of any Unrestricted Subsidiary.

     SECTION 11.2 Limitations on Liens. Create, incur, assume or suffer to exist, any Lien
on or with respect to any of its assets or properties (including, without limitation, shares of
Capital Stock), real or personal, whether now owned or hereafter acquired, except:

          (a) Liens for taxes, assessments and other governmental charges or levies not yet due or
as to which the period of grace (not to exceed thirty (30) days), if any, related thereto has
not expired or which are being contested in good faith and by appropriate proceedings if
adequate reserves are maintained to the extent required by GAAP;

          (b) Liens imposed by law, including Liens arising with respect to the claims of
materialmen, mechanics, carriers, warehousemen, processors or landlords for labor, materials,
supplies or rentals and other similar Liens incurred in the ordinary course of business, (i)
securing obligations which are not overdue for a period of more than thirty (30) days or (ii)
which are being contested in good faith and by appropriate proceedings;

          (c) Liens consisting of deposits or pledges made in the ordinary course of business in
connection with, or to secure payment of, obligations under workers’ compensation,
unemployment insurance or similar legislation, or to secure the performance of bids, trade
contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;

          (d) Liens constituting encumbrances in the nature of zoning restrictions, easements and
rights or restrictions of record on the use of real property, which in the aggregate are not
substantial in amount and which do not, in any case, detract from the value of such property
or impair the use thereof in the ordinary conduct of business;

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          (e) attachment or judgment Liens not giving rise to an Event of Default;

          (f) to the extent constituting Liens, leases, subleases, licenses and rights-of-use
granted to others not interfering in any material respect with the ordinary conduct of
business of the Borrower or any of its Restricted Subsidiaries;

          (g) Liens in favor of a trustee in an indenture relating to the Borrower’s public Debt to
the extent such Liens secure only customary compensation and reimbursement obligations of such
trustee under such indenture;

          (h) Liens securing the Obligations;

          (i) Liens not otherwise permitted by this Section 11.2 and in existence on the Closing
Date and described on Schedule 11.2;

          (j) Liens not otherwise permitted by this Section 11.2, for notice purposes only arising
in connection with Permitted Sale-Leaseback Transactions; provided that, with respect
to each Permitted Sale-Leaseback Transaction, such notice Liens extend only to the property
subject to such Permitted Sale-Leaseback Transaction;

          (k) Liens securing Debt permitted under Sections 11.1(d), (e) and (k); provided
that (i) such Liens shall be created substantially simultaneously with the acquisition or
lease of the related asset or refinance of such Debt, and (ii) such Liens do not at any time
encumber any property other than the property financed by such Debt;

          (l) a mortgage Lien solely upon the real property and improvements constructed thereon
comprising the Innovation Center Property securing the Debt permitted under Section 11.1(m);

          (m) (i) Liens of a collecting bank arising in the ordinary course of business under
Section 4-208 of the UCC in effect in the relevant jurisdiction and (ii) Liens of any
depositary bank in connection with statutory, common law and contractual rights of set-off and
recoupment with respect to any deposit account of the Borrower or any Restricted Subsidiary
thereof;

          (n) Liens of the Independent Issuer in and to the Independent Collateral Account and the
items deposited therein;

          (o) Liens on tangible property (including real property) or tangible assets of the
Borrower or any Restricted Subsidiary thereof acquired pursuant to a Permitted Acquisition and
securing Debt permitted pursuant to Section 11.1(o), or on tangible property (including real
property) or tangible assets of any Restricted Subsidiary of the Borrower which are in
existence at the time that such Restricted Subsidiary of the
Borrower is acquired pursuant to a Permitted Acquisition (provided that (i) such
Liens (A) are applicable only to specific tangible property (including real property) or
tangible assets, (B) are not “blanket” or all asset Liens; and (C) do not attach to any other
property or assets of the Borrower or any Restricted Subsidiary thereof and (ii) the Debt
secured by such Liens shall not exceed $25,000,000 outstanding at any time); and

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          (p) additional Liens not otherwise permitted by this Section 11.2 in an aggregate amount
not to exceed $3,000,000 at any time;

     provided, however, that nothing in this Section 11.2 shall be deemed to directly or
indirectly limit any Lien that the Borrower or any of its Restricted Subsidiaries may grant to any
other Person on any Margin Stock owned thereby to the extent such limitation could result in the
view that the Obligations hereunder are directly or indirectly secured by such Margin Stock.

     SECTION 11.3 Limitations on Loans, Advances, Investments and Acquisitions. Purchase,
own, invest in or otherwise acquire, directly or indirectly, any Capital Stock (including, without
limitation, the creation or capitalization of any Restricted Subsidiary), evidence of Debt (other
than Guaranty Obligations permitted pursuant to Section 11.1) or other obligation or security, in
each case of any other Person; purchase, own, invest in or otherwise acquire, directly or
indirectly, all or substantially all of the business or a line of business (whether by acquisition
of Capital Stock, assets, permitted merger or any combination thereof) of any other Person, or make
or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any
investment in cash or by delivery of property in, any other Person except:

          (a) investments (i) in Subsidiaries made prior to the Closing Date, (ii) in Restricted
Subsidiaries formed or acquired after the Closing Date so long as the Borrower and its
Subsidiaries comply with the applicable provisions of Section 9.9 and (iii) the other loans,
advances and investments made prior to the Closing Date described on Schedule 11.3;

          (b) investments in (i) marketable direct obligations issued or unconditionally guaranteed
by the United States of America or any agency thereof maturing within ninety (90) days from
the date of acquisition thereof, (ii) commercial paper (A) maturing no more than ninety (90)
days from the date of creation thereof and currently having a rating of at least A-2 from S&P
or P-2 from Moody’s or (B) maturing no more than one (1) year from the date of creation
thereof and currently having a rating of at least A-1 from S&P or P-1 from Moody’s, (iii)
certificates of deposit maturing no more than one hundred twenty (120) days from the date of
creation thereof issued by commercial banks incorporated under the laws of the United States
of America, each having combined capital, surplus and undivided profits of not less than
$500,000,000 and having a rating of “A” or better by a nationally recognized rating agency;
provided, that the aggregate amount invested in such certificates of deposit shall not
at any time exceed $5,000,000 for any one such certificate of deposit and $10,000,000 for any
one such bank, (iv) time deposits maturing no more than thirty (30) days from the date of
creation thereof with commercial banks or savings banks or savings and loan associations each
having membership either in the FDIC or the deposits of which are insured by the FDIC and in
amounts not exceeding the maximum amounts of insurance thereunder, (v) investments by the
Borrower in any
evidence of debt issued by a state, city, town, county or their agencies and paying
interest which is exempt from federal tax; provided, that the maturity is ninety (90)
days or less and such debt is rated at least A-1, SP-1 or AAA by S&P or at least P-1, MIG-1 or
Aaa by Moody’s and (vi) investments by the Borrower in money market funds and mutual funds
which invest substantially all of their assets in securities of the types described in clauses
(i) through (v) above;

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          (c) Hedging Agreements permitted pursuant to Section 11.1 and any commodity swap or other
agreement or arrangement related to commodity prices;

          (d) purchases of assets in the ordinary course of business;

          (e) investments in franchisees of the Borrower not to exceed $50,000,000 in the aggregate
at any time outstanding;

          (f) investments in the form of loans and advances to officers and employees of the
Borrower and its Subsidiaries in the ordinary course of the business of the Borrower and its
Subsidiaries as presently conducted in an aggregate principal amount not to exceed $2,000,000
at any time outstanding;

          (g) additional non-speculative investments of the Borrower and its Restricted
Subsidiaries not otherwise permitted pursuant to this Section 11.3 not to exceed $25,000,000
in the aggregate at any time outstanding; and

     (h) investments by the Borrower or any of its Restricted Subsidiaries in the
form of acquisitions of all or substantially all of the business or a line of
business (whether by the acquisition of Capital Stock, assets, permitted merger or
any combination thereof) of any other Person if the Borrower and its Restricted
Subsidiaries promptly comply with Section 9.9 hereof (each, a “Permitted
Acquisition”); provided that:

(i) the Person to be acquired shall be a going concern, engaged in a business,
or the assets to be acquired shall be used in a business, similar or
complementary to the line of business of the Borrower and its Subsidiaries,
and such acquisition shall have been approved by the board of directors or
equivalent governing body (or the shareholders) of the seller and/or the
Person to be acquired;

     (ii) the Borrower or its Restricted Subsidiary, as applicable, shall be the
surviving Person and no Change in Control shall have been effected thereby;

     (iii) the Borrower shall demonstrate, to the reasonable satisfaction of the
Administrative Agent, pro forma compliance with the covenants contained in Article X
both before and immediately after giving effect to such acquisition;

     (iv) no Default or Event of Default shall have occurred and be continuing both
before and immediately after giving effect to the acquisition;

     (v) the Borrower shall deliver written notice of such proposed acquisition to
the Administrative Agent, which notice shall include the proposed closing date of
the acquisition, not less than ten (10) Business Days prior to such proposed closing
date;

     (vi) to the extent requested by the Administrative Agent, the Borrower shall
deliver to the Administrative Agent copies of (A) the Permitted Acquisition

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Documents and (B) the Permitted Acquisition Diligence Information within a
reasonable period of time before or after the proposed closing date of such
acquisition;

     (vii) if the Person to be acquired will be a Domestic Subsidiary of the
Borrower and a Restricted Subsidiary, such Person shall become a Guarantor, pursuant
to Section 9.9(a); and

     (viii) the aggregate total cash consideration paid in connection with all
Permitted Acquisitions during the term of this Agreement shall not exceed
$200,000,000.

          For the purposes of Sections 11.3(e), (f) and (g), the “amount” of any
loan, advance, extension of credit or investment made by the Borrower or any of its Restricted
Subsidiaries (collectively, the “Investors”) in any other Person or Persons (collectively,
the “Recipient”) outstanding at any time shall be:

          (i) with respect to any loans, advances or extensions of credit made by any Investor to
any Recipient, an amount equal to (A) the principal amount of loans, advances and extensions
of credit made to the Recipient, directly or indirectly, by the Investors less (B)
the amount of any repayments of principal of such loans, advances or extensions of credit
made, directly or indirectly, by the Recipient to the Investors; and

          (ii) with respect to any investment made by any Investor in any Recipient, (A) the
amount of capital contributions made in the Recipient, directly or indirectly, by the
Investors (without any adjustment for any increase or decrease in value, or any write-up,
write-down or write-off with regard to such investment to the extent that such increase or
decrease in value or write-up, write-down or write-off does not require any additional
capital contribution) less (B) the amount of any dividends and distributions made by
such Recipient (directly or indirectly) to such Investor or Investors.

     SECTION 11.4 Limitations on Mergers and Liquidation. Merge, consolidate or enter into
any similar combination with any other Person or liquidate, wind-up or dissolve itself (or suffer
any liquidation or dissolution) except:

          (a) any Wholly Owned Subsidiary of the Borrower may merge with the Borrower or any other
Wholly Owned Restricted Subsidiary of the Borrower; provided that (i) in any merger
involving the Borrower, the Borrower shall be the surviving entity and (ii) in any merger
involving a Restricted Subsidiary (that does not also involve the Borrower), the Restricted
Subsidiary shall be the surviving entity;

          (b) any Wholly Owned Subsidiary of the Borrower may merge into the Person such Wholly
Owned Subsidiary was formed to acquire in connection with an acquisition permitted by Section
11.3(h) (and, in the case of any merger involving a Restricted Subsidiary, such Person is or
becomes a Restricted Subsidiary); and

          (c) any Wholly Owned Subsidiary of the Borrower may wind-up into the Borrower or any
other Wholly Owned Restricted Subsidiary of the Borrower.

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     SECTION 11.5 Limitations on Sale of Assets. Convey, sell, lease, assign, transfer or
otherwise dispose of any of its property, business or assets (including, without limitation, the
sale of any receivables and leasehold interests and any sale-leaseback or similar transaction),
whether now owned or hereafter acquired except:

          (a) the sale of (i) inventory and (ii) equipment acquired after the Closing Date and sold
to franchisees, in each of cases (i) and (ii), in the ordinary course of business;

          (b) the sale of any property or assets (i) pursuant to a Permitted Sale-Leaseback
Transaction or (ii) that are existing restaurant units not owned by the Borrower or any
Restricted Subsidiary on the Closing Date;

          (c) the sale of obsolete assets no longer used or usable in the business of the Borrower
or any of its Subsidiaries;

          (d) the transfer of assets to the Borrower or any Wholly Owned Subsidiary of the Borrower
pursuant to a transaction not otherwise prohibited by the Loan Documents;

          (e) the sale or discount without recourse of accounts receivable arising in the ordinary
course of business in connection with the compromise or collection thereof;

          (f) the disposition of any Hedging Agreement or any commodity swap or other agreement or
arrangement related to commodity prices;

          (g) the sale of restaurant units owned by the Borrower or any Restricted Subsidiary to
franchisees; and

          (h) leases, subleases, licenses and rights-of-use granted to others not interfering in
any material respect with the ordinary conduct of business of the Borrower or any of its
Restricted Subsidiaries; and

          (i) the sale or other disposition of assets by the Borrower or any Restricted Subsidiary
not otherwise permitted under this Section 11.5; provided that (i) as of the time of
such sale or other disposition no Default or Event of Default shall be continuing or would
result therefrom, (ii) any such sale shall be for fair value for cash consideration only, and
(iii) the Borrower shall have complied with the requirements of Section 4.4(b);

          provided, however, that nothing in this Section shall be deemed to directly or
indirectly limit any sale or other disposition of Margin Stock by the Borrower or any of its
Restricted Subsidiaries to any other Person to the extent such limitation could result in the view
that the Obligations hereunder are directly or indirectly secured by such Margin Stock (any such
sale or other disposition, an “Excluded Asset Sale”).

     SECTION 11.6 Limitations on Dividends and Distributions. Declare or pay any dividends
upon any of its Capital Stock; purchase, redeem, retire or otherwise acquire, directly or
indirectly, any shares of its Capital Stock, or make any distribution of cash, property or assets

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among the holders of shares of its Capital Stock (all such payments or other distributions,
“Distributions”); provided that:

          (a) the Borrower or any Restricted Subsidiary may pay dividends in shares of its own
Capital Stock;

          (b) the Borrower may pay cash dividends on the Capital Stock of the Borrower,
provided that:

                    (i) no Default or Event of Default shall have occurred and be continuing both before and
immediately after giving effect to such dividend payment,

                    (ii) the Borrower and its Restricted Subsidiaries shall be in pro forma compliance with the
covenants contained in Article X both before and immediately after giving effect to such dividend
payment and

                    (iii) the aggregate amount of all such cash dividend payments during the term of this
Agreement shall not exceed $50,000,000;

          (c) the Borrower may acquire Capital Stock of the Borrower, including in connection with
the Tender Offer, provided that:

                    (i) no Default or Event of Default shall have occurred and be continuing both before and
immediately after giving effect to such Capital Stock acquisition,

                    (ii) the Borrower and its Restricted Subsidiaries shall be in pro forma compliance with the
covenants contained in Article X both before and immediately after giving effect to such Capital
Stock acquisition and

                    (iii) the aggregate amount of all such Capital Stock acquisitions (excluding the Tender Offer)
during the term of this Agreement shall not exceed the sum of (x) $300,000,000 plus (y) the
difference between (A) $360,000,000 and (B) the amount actually paid by the Borrower to repurchase
its shares pursuant to the Tender Offer;

               (d) the Borrower or any Restricted Subsidiary may make Distributions of up to $35,000,000 in
aggregate of the Net Cash Proceeds (after giving effect to any prepayment required by Section
4.4(b)(ii)) of any issuance of Subordinated Debt by the Borrower or any Restricted Subsidiary; and

               (e) any Restricted Subsidiary may pay cash dividends to the holders of its Capital Stock;
provided that in the case of any cash dividend paid by a Restricted Subsidiary that is not
a Wholly Owned Subsidiary, such dividend may be paid only if such dividend is paid on a ratable
basis to the holders of such Capital Stock in accordance with their respective ownership
percentages in such Restricted Subsidiary.

     SECTION 11.7 Limitations on Exchange and Issuance of Capital Stock. Issue, sell or
otherwise dispose of any class or series of Capital Stock that, by its terms or by the terms of any
security into which it is convertible or exchangeable, is, or upon the happening of an event or

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passage of time would be, (a) convertible or exchangeable into Debt or (b) required to be redeemed
or repurchased, including at the option of the holder, in whole or in part, or has, or upon the
happening of an event or passage of time would have, a redemption or similar payment due.

     SECTION 11.8 Transactions with Affiliates. Except for transactions permitted by 11.3,
11.6 and 11.7, directly or indirectly (a) make any loan or advance to, or purchase or assume any
note or other obligation to or from, any of its officers, directors, shareholders or other
Affiliates, or to or from any member of the immediate family of any of its officers, directors,
shareholders or other Affiliates, or subcontract any operations to any of its Affiliates or (b)
enter into, or be a party to, any other transaction not described in clause (a) above with any of
its Affiliates, except pursuant to the reasonable requirements of its business and upon fair and
reasonable terms that are no less favorable to it than it would obtain in a comparable arm’s-
length transaction with a Person not its Affiliate.

     SECTION 11.9 Certain Accounting Changes; Organizational Documents. (a) Change its
Fiscal Year end, or make any change in its accounting treatment and reporting practices except as
required by GAAP or (b) amend, modify or change its articles of incorporation (or corporate charter
or other similar organizational documents) in any manner adverse in any respect to the rights or
interests of the Lenders or amend, modify or change its bylaws (or other similar documents) in any
manner adverse in any respect to the rights or interests of the Lenders.

     SECTION 11.10 Amendments; Payments and Prepayments of Subordinated Debt. Amend or
modify (or permit the modification or amendment of) any of the terms or provisions of any
Subordinated Debt in any manner materially adverse to the rights and interests of the Lenders, or
cancel or forgive, make any voluntary or optional payment or prepayment on, or redeem or acquire
for value (including, without limitation, by way of depositing with any trustee with respect
thereto money or securities before due for the purpose of paying when due) any Subordinated Debt.

     SECTION 11.11 Restrictive Agreements.

          (a) Enter into any Debt (other than the Obligations) (i) which contains (A) any negative
pledge on assets prohibiting the Liens granted under the Security Documents or, (B) with
respect to each item of Debt in excess of $15,000,000, covenants, which such covenants when
taken as a whole, are materially more restrictive than the provisions of Articles IX, X and XI
hereof, or (ii) which restricts, limits or otherwise encumbers its ability to incur the Liens
granted under the Security Documents.

          (b) Enter into or permit to exist any agreement which impairs or limits the ability of
any Restricted Subsidiary of the Borrower to pay dividends to the Borrower.

     SECTION 11.12 Nature of Business. Substantively alter in any material respect the
character or conduct of the business conducted by the Borrower and its Restricted Subsidiaries as
of the Closing Date.

     SECTION 11.13 Impairment of Security Interests. Take or omit to take any action,
which could have the result of materially impairing the security interests in favor of the
Administrative Agent with respect to the Collateral or grant to any Person (other than the

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Administrative Agent for the benefit of itself and the Secured Parties pursuant to the Security
Documents) any ownership or security interest whatsoever in the Collateral, except for Liens
permitted under Section 11.2 and asset sales permitted under Section 11.5.

ARTICLE XII

DEFAULT AND REMEDIES

     SECTION 12.1 Events of Default. Each of the following shall constitute an Event of
Default, whatever the reason for such event and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment or order of any court or any order, rule
or regulation of any Governmental Authority or otherwise:

               (a) Default in Payment of Principal of Loans and Reimbursement Obligations. The
Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and
as due (whether at maturity, by reason of acceleration or otherwise).

               (b) Other Payment Default. The Borrower shall default in the payment when and as due
(whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or
Reimbursement Obligation or the payment of any other Obligation, and such default shall continue
for a period of three (3) Business Days.

               (c) Misrepresentation. Any representation, warranty, certification or statement of
fact made or deemed made by or on behalf of the Borrower or any Subsidiary under this Agreement,
any other Loan Document or in any document delivered in connection herewith or therewith that is
subject to materiality or Material Adverse Effect qualifications, shall be incorrect or misleading
in any respect when made or deemed made, or any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Borrower or any Subsidiary under this
Agreement, any other Loan Document, or in any document delivered in connection herewith or
therewith that is not subject to materiality or Material Adverse Effect qualifications, shall be
incorrect or misleading in any material respect when made or deemed made.

               (d) Default in Performance of Certain Covenants. The Borrower or any Subsidiary
thereof shall default in the performance or observance of any covenant or agreement contained in
Sections 8.1, 8.2, 8.5(e)(i), 9.9, 9.10 or 9.11 or Articles X or XI of this Agreement (subject in
the case of Sections 8.1, 8.2 and 8.5(e)(i) to the provisions of Section 8.6).

               (e) Default in Performance of Other Covenants and Conditions. The Borrower or any
Subsidiary thereof shall default in the performance or observance of any term, covenant, condition
or agreement contained in this Agreement (other than as specifically provided for otherwise in this
Section 12.1) or any other Loan Document and such default shall continue for a period of thirty
(30) days after written notice thereof has been given to the Borrower by the Administrative Agent.

               (f) Debt Cross-Default. The Borrower or any of its Subsidiaries shall (i) default in
the payment of any Debt (other than the Obligations) the aggregate outstanding

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amount of which Debt
is in excess of $10,000,000 beyond the period of grace if any, provided in the instrument or
agreement under which such Debt was created, or (ii) default in the observance or performance of
any other agreement or condition relating to any Debt (other than the Obligations) the aggregate
outstanding amount of which Debt is in excess of $10,000,000 or contained in any instrument or
agreement evidencing, securing or relating thereto or any other event shall occur or condition
exist, the effect of which default or other event or condition is to cause, or to permit the holder
or holders of such Debt (or a trustee or agent on behalf of such holder or holders) to cause, with
the giving of notice if required, any such Debt to become due prior to its stated maturity (any
applicable grace period having expired).

               (g) Change in Control. Any person or group of persons (within the meaning of Section
13(d) of the Securities Exchange Act of 1934, as amended) shall obtain ownership or control in one
or more series of transactions of more than thirty percent (30%) of the common stock or thirty
percent (30%) of the voting power of the Borrower entitled to vote in the election of members of
the board of directors of the Borrower or there shall have occurred under any indenture or other
instrument evidencing any Debt in excess of $10,000,000 any “change in control” or equivalent term
(as defined in such indenture or other evidence of Debt) obligating the Borrower to repurchase,
redeem or repay all or any part of the Debt or Capital Stock provided for therein (any such event,
a “Change in Control”).

               (h) Voluntary Bankruptcy Proceeding. The Borrower or any Restricted Subsidiary
thereof shall (i) commence a voluntary case under the federal bankruptcy laws (as now or hereafter
in effect), (ii) file a petition seeking to take advantage of any other laws, domestic or foreign,
relating to bankruptcy, insolvency, reorganization, winding up or composition for adjustment of
debts, (iii) consent to or fail to contest in a timely and appropriate manner any petition filed
against it in an involuntary case under such bankruptcy laws or other laws, (iv) apply for or
consent to, or fail to contest in a timely and appropriate manner, the appointment of, or the
taking of possession by, a receiver, custodian, trustee, or liquidator of itself or of a
substantial part of its property, domestic or foreign, (v) admit in writing its inability to pay
its debts as they become due, (vi) make a general assignment for the benefit of creditors, or (vii)
take any corporate action for the purpose of authorizing any of the foregoing.

               (i) Involuntary Bankruptcy Proceeding. A case or other proceeding shall be commenced
against the Borrower or any Restricted Subsidiary thereof in any court of competent jurisdiction
seeking (i) relief under the federal bankruptcy laws (as now or hereafter in effect) or under any
other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or
adjustment of debts, or (ii) the appointment of a trustee, receiver, custodian, liquidator or the
like for the Borrower or any Subsidiary thereof or for all or any
substantial part of their respective assets, domestic or foreign, and such case or proceeding
shall continue without dismissal or stay for a period of sixty (60) consecutive days, or an order
granting the relief requested in such case or proceeding (including, but not limited to, an order
for relief under such federal bankruptcy laws) shall be entered.

               (j) Failure of Agreements. Any provision of this Agreement or any provision of any
other Loan Document shall for any reason cease to be valid and binding on the Borrower or
Subsidiary party thereto or any such Person or their representative shall so state in writing, or
any Loan Document shall for any reason cease to create a valid and perfected first

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priority Lien
on, or security interest in, any of the collateral purported to be covered thereby, in each case
other than in accordance with the express terms hereof or thereof.

               (k) ERISA Events. The occurrence of any of the following events: (i) except where
such failure could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, the Borrower or any ERISA Affiliate fails to make full payment when due of all
amounts which, under the provisions of any Pension Plan or Section 412 of the Code, the Borrower or
any ERISA Affiliate is required to pay as contributions thereto, (ii) an accumulated funding
deficiency (as defined in Section 412 of the Code or Section 302 of ERISA) in excess of $2,000,000
occurs or exists, whether or not waived, with respect to any Pension Plan, (iii) a Termination
Event or (iv) the Borrower or any ERISA Affiliate as employers under one or more Multiemployer
Plans makes a complete or partial withdrawal from any such Multiemployer Plan and the plan sponsor
of such Multiemployer Plans notifies such withdrawing employer that such employer has incurred a
withdrawal liability requiring payments in an amount exceeding $2,000,000.

               (l) Judgment. A judgment or order for the payment of money which causes the aggregate
amount of all such judgments or orders (net of any amounts covered by independent third party
insurance as to which the relevant insurance company does not dispute coverage) to exceed
$10,000,000 in any Fiscal Year shall be entered against the Borrower or any of its Restricted
Subsidiaries by any court and such judgment or order shall continue without discharge or stay for a
period of thirty (30) days.

               (m) Environmental. Any one or more Environmental Claims shall have been asserted
against the Borrower or any of its Subsidiaries; the Borrower and its Subsidiaries would be
reasonably likely to incur liability as a result thereof; and such liability would be reasonably
likely, individually or in the aggregate, to have a Material Adverse Effect.

     SECTION 12.2 Remedies. Upon the occurrence of an Event of Default, with the consent
of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders,
the Administrative Agent shall, by notice to the Borrower:

               (a) Acceleration; Termination of Facilities. Terminate the Revolving Credit
Commitment and declare the principal of and interest on the Loans and the Reimbursement Obligations
at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent
under this Agreement or any of the other Loan Documents (including, without limitation, all L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have
presented or shall be entitled to present the documents
required thereunder) and all other Obligations (other than Hedging Obligations), to be
forthwith due and payable, whereupon the same shall immediately become due and payable without
presentment, demand, protest or other notice of any kind, all of which are expressly waived,
anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and
terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of
Credit thereunder; provided, that upon the occurrence of an Event of Default specified in
Section 12.1(h) or (i), the Credit Facility shall be automatically terminated and all Obligations
(other than Hedging Obligations) shall automatically become due and payable without presentment,
demand,

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protest or other notice of any kind, all of which are expressly waived, anything in this
Agreement or in any other Loan Document to the contrary notwithstanding.

     (b) Letters of Credit. With respect to all Letters of Credit with respect to which
any amount shall remain undrawn and unexpired at the time of an acceleration pursuant to the
preceding paragraph, the Borrower shall at such time deposit in a cash collateral account opened by
the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such
Letters of Credit. Amounts held in such cash collateral account shall be applied by the
Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused
portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if
any, shall be applied to repay the other Obligations on a pro
rata basis. After all such Letters
of Credit shall have expired or been fully drawn upon, the Reimbursement Obligation shall have been
satisfied and all other Obligations shall have been paid in full, the balance, if any, in such cash
collateral account shall be returned to the Borrower.

               (c) Rights of Collection. Exercise on behalf of the Lenders all of its other rights
and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy
all of the Borrower’s Obligations.

     SECTION 12.3 Rights and Remedies Cumulative; Non-Waiver; etc. The enumeration of the
rights and remedies of the Administrative Agent and the Lenders set forth in this Agreement is not
intended to be exhaustive and the exercise by the Administrative Agent and the Lenders of any right
or remedy shall not preclude the exercise of any other rights or remedies, all of which shall be
cumulative, and shall be in addition to any other right or remedy given hereunder or under the
other Loan Documents or that may now or hereafter exist at law or in equity or by suit or
otherwise. No delay or failure to take action on the part of the Administrative Agent or any
Lender in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any
single or partial exercise of any such right, power or privilege preclude any other or further
exercise thereof or the exercise of any other right, power or privilege or shall be construed to be
a waiver of any Event of Default. No course of dealing between the Borrower, the Administrative
Agent and the Lenders or their respective agents or employees shall be effective to change, modify
or discharge any provision of this Agreement or any of the other Loan Documents or to constitute a
waiver of any Event of Default.

     SECTION 12.4 Crediting of Payments and Proceeds. In the event that the Borrower shall
fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to
Section 12.2, all payments received by the Lenders upon the Obligations and all net proceeds from
the enforcement of the Obligations shall be applied:

          First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts, including attorney fees, payable to the Administrative Agent in its
capacity as such and the Issuing Lender in its capacity as such (ratably among the Administrative
Agent and the Issuing Lender in proportion to the respective amounts described in this clause
First payable to them);

          Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to the Lenders, including attorney
fees

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(ratably among the Lenders in proportion to the respective amounts described in this clause
Second payable to them);

          Third, to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans and Reimbursement Obligations and any Hedging Obligations (including any
termination payments and any accrued and unpaid interest thereon) (ratably among the Lenders in
proportion to the respective amounts described in this clause Third payable to them);

          Fourth, to payment of that portion of the Obligations constituting unpaid principal of
the Loans and Reimbursement Obligations (ratably among the Lenders in proportion to the respective
amounts described in this clause Fourth held by them);

          Fifth, to the Administrative Agent for the account of the Issuing Lender, to cash
collateralize any L/C Obligations then outstanding; and

          Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrower or as otherwise required by Law.

     SECTION 12.5 Administrative Agent May File Proofs of Claim. In case of the pendency
of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to any Credit Party, the Administrative Agent
(irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable
as herein expressed or by declaration or otherwise and irrespective of whether the Administrative
Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention
in such proceeding or otherwise:

          (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing
and unpaid and to file such other documents as may be necessary or advisable in order to have
the claims of the Lenders and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent
and their respective agents and counsel and all other amounts due the Lenders and the
Administrative Agent under Sections 3.3, 5.3 and 14.2) allowed in such judicial proceeding;
and

          (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

          and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender to make such
payments to the Administrative Agent and, in the event that the Administrative Agent shall
consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent
any amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent
under Sections 3.3, 5.3 and 14.2.

          Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization,

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arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

ARTICLE XIII

THE ADMINISTRATIVE AGENT

     SECTION 13.1 Appointment and Authority. Each of the Lenders and the Issuing Lender
hereby irrevocably appoints Wachovia to act on its behalf as the Administrative Agent hereunder and
under the other Loan Documents and authorizes the Administrative Agent to take such actions on its
behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof
or thereof, together with such actions and powers as are reasonably incidental thereto. The
provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and
the Issuing Lender, and neither the Borrower nor any Subsidiary thereof shall have rights as a
third party beneficiary of any of such provisions.

     SECTION 13.2 Rights as a Lender. The Person serving as the Administrative Agent
hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and
may exercise the same as though it were not the Administrative Agent and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires,
include the Person serving as the Administrative Agent hereunder in its individual capacity. Such
Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or
in any other advisory capacity for and generally engage in any kind of business with the Borrower
or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders.

     SECTION 13.3 Exculpatory Provisions. The Administrative Agent shall not have any
duties or obligations except those expressly set forth herein and in the other Loan Documents.
Without limiting the generality of the foregoing, the Administrative Agent:

          (a) shall not be subject to any fiduciary or other implied duties, regardless of whether
a Default has occurred and is continuing;

          (b) shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby or
by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall
be expressly provided for herein or in the other Loan Documents), provided that the
Administrative Agent shall not be required to take any
action that, in its opinion or the opinion of its counsel, may expose the Administrative
Agent to liability or that is contrary to any Loan Document or Applicable Law; and

          (c) shall not, except as expressly set forth herein and in the other Loan Documents, have
any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to the Borrower or any of its Affiliates that is communicated to or obtained by the
Person serving as the Administrative Agent or any of its Affiliates in any capacity.

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          The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Section 14.11 and Section 12.2) or (ii) in the
absence of its own gross negligence or willful misconduct as determined by a court of competent
jurisdiction by final nonappealable judgment. The Administrative Agent shall be deemed not to have
knowledge of any Default unless and until notice describing such Default is given to the
Administrative Agent by the Borrower, a Lender or the Issuing Lender.

          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 or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Article VI or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

     SECTION 13.4 Reliance by 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 (including any electronic
message, Internet or intranet website posting or other distribution) believed by it to be genuine
and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative
Agent also may rely upon any statement made to it orally or by telephone and believed by it to have
been made by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of a Loan, or the issuance of a
Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the
Issuing Lender, the Administrative Agent may presume that such condition is satisfactory to such
Lender or the Issuing Lender unless the Administrative Agent shall have received notice to the
contrary from such Lender or the Issuing Lender prior to the making of such Loan or the issuance of
such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel
for the Borrower), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts.

     SECTION 13.5 Delegation of Duties. The Administrative Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or
through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by
or through their respective Related Parties. The exculpatory provisions of this Article shall
apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Administrative Agent.

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     SECTION 13.6 Resignation of Administrative Agent.

          (a) The Administrative Agent may at any time give notice of its resignation to the
Lenders, the Issuing Lender and the Borrower. Upon receipt of any such notice of resignation,
the Required Lenders shall have the right, in consultation with the Borrower, to appoint a
successor, which shall be a bank with an office in the United States, or an Affiliate of any
such bank with an office in the United States. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may on behalf of the Lenders and the Issuing Lender, appoint a successor
Administrative Agent meeting the qualifications set forth above provided that if the
Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become effective in
accordance with such notice and (i) the retiring Administrative Agent shall be discharged from
its duties and obligations hereunder and under the other Loan Documents (except that in the
case of any collateral security held by the Administrative Agent on behalf of the Lenders or
the Issuing Lender under any of the Loan Documents, the retiring Administrative Agent shall
continue to hold such collateral security until such time as a successor Administrative Agent
is appointed) and (ii) 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 Lender directly, until such time as the Required Lenders appoint a successor
Administrative Agent as provided for above in this paragraph. 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 Loan Documents (if not already
discharged therefrom as provided above in this paragraph). 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 Loan Documents, the
provisions of this Article and Section 14.2 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.

          (b) Any resignation by Wachovia as Administrative Agent pursuant to this Section shall
also constitute its resignation as Issuing Lender and Swingline Lender. Upon the acceptance
of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall
succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring Issuing Lender and Swingline Lender, (b) the retiring Issuing Lender and Swingline
Lender shall be discharged from all of their respective duties and obligations hereunder or
under the other Loan Documents, and (c) the successor Issuing Lender shall issue letters of
credit in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangement satisfactory to the retiring Issuing Lender to
effectively assume the obligations of the retiring Issuing Lender with respect to such Letters
of Credit.

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     SECTION 13.7 Non-Reliance on Administrative Agent and Other Lenders. Each Lender and
the Issuing Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement. Each Lender and the Issuing Lender also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

     SECTION 13.8 No Other Duties, etc. Anything herein to the contrary notwithstanding,
none of the documentation agents, syndication agents, book manager or arrangers listed on the cover
page or signature pages hereof shall have any powers, duties or responsibilities under this
Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the
Administrative Agent, a Lender or the Issuing Lender hereunder.

     SECTION 13.9 Collateral and Guaranty Matters. The Lenders irrevocably authorize the
Administrative Agent, at its option and in its discretion,

          (a) to release any Lien on any Collateral granted to or held by the Administrative Agent,
for the ratable benefit of itself and the Secured Parties, under any Loan Document (i) upon
repayment of the outstanding principal of and all accrued interest on the Loans and
Reimbursement Obligations, payment of all outstanding indemnities, fees and expenses hereunder
(other than those Obligations which survive pursuant to Section 14.15), the termination of the
Revolving Credit Commitment and the expiration or termination of all Letters of Credit, (ii)
that is sold or to be sold as part of or in connection with any sale permitted hereunder or
under any other Loan Document, or (iii) subject to Section 14.11, if approved, authorized or
ratified in writing by the Required Lenders;

          (b) to subordinate or release any Lien on any Collateral granted to or held by the
Administrative Agent under any Loan Document to the holder of any Permitted Lien; and

          (c) to release any Guarantor from its obligations under the Guaranty Agreement, the
Collateral Agreement and any other Loan Documents if such Person ceases to be a Restricted
Subsidiary as a result of a transaction permitted hereunder.

          Without limiting the authority of the Administrative Agent under the Loan Documents, upon
request by the Administrative Agent at any time, the Required Lenders will confirm in writing the
Administrative Agent’s authority to release or subordinate its interest in particular types or
items of property, or to release any Guarantor from its obligations under the Guaranty Agreement
pursuant to this Section.

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ARTICLE XIV

MISCELLANEOUS

     SECTION 14.1 Notices.

          (a) Method of Communication. Except as otherwise provided in this Agreement, all
notices and communications hereunder shall be in writing (for purposes hereof, the term
“writing” shall include information in electronic format such as electronic mail and internet
web pages), or by telephone subsequently confirmed in writing. Any notice shall be effective
if delivered by hand delivery, telecopy, recognized overnight courier service or certified
mail, return receipt requested. Notices sent by hand or overnight courier service, or mailed
by certified or registered mail, shall be deemed to have been given when received; notices
sent by telecopier shall be deemed to have been given when sent (except that, if not given
during normal business hours for the recipient, shall be deemed to have been given at the
opening of business on the next business day for the recipient). A telephonic notice to the
Administrative Agent as understood by the Administrative Agent will be deemed to be the
controlling and proper notice in the event of a discrepancy with or failure to receive a
confirming written notice. Notices delivered through electronic communications to the extent
provided in paragraph (c) below, shall be effective as provided in said paragraph (c).

          (b) Addresses for Notices. Notices to any party shall be sent to it at the
following addresses, or any other address as to which all the other parties are notified in
writing.

	 	 	 	 	 
	 

	 	If to the Borrower:
	 	Jack in the Box Inc.
	 

	 	 	 	9330 Balboa Avenue
	 

	 	 	 	San Diego, California 92123-1516
	 

	 	 	 	Attention: Harold L. Sachs
	 

	 	 	 	Telephone No.: (858) 571-2215
	 

	 	 	 	Telecopy No.: (858) 694-1533
	 
	 	 	 	 
	 

	 	With copies to:
	 	Gibson, Dunn & Crutcher LLP
	 

	 	 	 	333 South Grand Avenue
	 

	 	 	 	Los Angeles, California 90071-3197
	 

	 	 	 	Attention: Linda L. Curtis
	 

	 	 	 	Telephone No.:(213) 229-7582
	 

	 	 	 	Telecopy No.: (213) 229-7520
	 
	 	 	 	 
	 

	 	If to Wachovia as
	 	Wachovia Bank, National Association
	 

	 	Administrative Agent:
	 	Charlotte Plaza, NC0680
	 

	 	 	 	201 South College Street
	 

	 	 	 	Charlotte, North Carolina 28288-0680
	 

	 	 	 	Attention: Syndication Agency Services
	 

	 	 	 	Telephone No.: (704) 374-2698
	 

	 	 	 	Telecopy No.: (704) 383-0288

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	 	With copies to:
	 	Wachovia Bank, National Association
	 

	 	 	 	301 South College Street
	 

	 	 	 	Charlotte, North Carolina 28288-5562
	 

	 	 	 	Attention: Richard E. Anglin, III
	 

	 	 	 	Telephone No.: 704-383-3776
	 

	 	 	 	Telecopy No.: 704-383-6647
	 
	 	 	 	 
	 

	 	If to any Lender:
	 	To the address set forth in the Register

          (c) Electronic Communications. Notices and other communications to the Lenders
and the Issuing Lender hereunder may be delivered or furnished by electronic communication
(including e-mail and internet or intranet websites) pursuant to procedures approved by the
Administrative Agent, provided that the foregoing shall not apply to notices to any
Lender or the Issuing Bank pursuant to Article II if such Lender or the Issuing Bank, as
applicable, has notified the Administrative Agent that is incapable of receiving notices under
such Article by electronic communication. The Administrative Agent or the Borrower may, in
its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

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

          (d) Administrative Agent’s Office. The Administrative Agent hereby designates
its office located at the address set forth above, or any subsequent office which shall have
been specified for such purpose by written notice to the Borrower and Lenders, as the
Administrative Agent’s Office referred to herein, to which payments due are to be made and at
which Loans will be disbursed and Letters of Credit requested. 

          (e) Change of Address, Etc. Any party hereto may change its address or
telecopier number for notices and other communications hereunder by notice to the other
parties hereto.

     SECTION 14.2 Expenses; Indemnity.

          (a) Costs and Expenses. The Borrower and any other Credit Party, jointly and
severally, shall pay (i) all reasonable out-of-pocket expenses incurred by each

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Arranger, the
Administrative Agent and their respective Affiliates (including the reasonable fees, charges
and disbursements of counsel for the Administrative Agent), in connection with the syndication
of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this 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 Lender in connection with the issuance, amendment, renewal or
extension of any Letter of Credit or any demand for payment thereunder and (iii) all
out-of-pocket expenses incurred by the Administrative Agent, any Lender or the Issuing Lender
(including the fees, charges and disbursements of any counsel for the Administrative Agent,
any Lender or the Issuing Lender), in connection with the enforcement or protection of its
rights (A) in connection with this Agreement and the other Loan Documents, including its
rights under this Section, or (B) in connection with the Loans made or Letters of Credit
issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.

          (b) Indemnification by the Borrower. The Borrower shall indemnify the
Administrative Agent (and any sub-agent thereof), each Lender and the Issuing 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, and shall pay or
reimburse any such Indemnitee for, any and all losses, claims (including, without limitation,
any Environmental Claims or civil penalties or fines assessed by OFAC), damages, liabilities
and related expenses (including the fees, charges and disbursements of any counsel for any
Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party
or by the Borrower or any other Credit Party arising out of, in connection with, or as a
result of (i) the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto
of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby (including in respect of the Tender Offer), (ii)
any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including
any refusal by the Issuing Lender to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly
comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or
Release of Hazardous Materials on or from any property owned or operated by the Borrower or
any of its Subsidiaries, or any Environmental Claim related in any way to the Borrower or any
of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or
proceeding relating to any of the foregoing, whether based on contract, tort or any other
theory, whether brought by a third party or by the Borrower or any other Credit Party, and
regardless of whether any Indemnitee is a party thereto, or (v) any claim (including, without
limitation, any Environmental Claims or civil penalties or fines assessed by OFAC),
investigation, litigation or other proceeding (whether or not the Administrative Agent or any
Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any
way connected with the Loans, this Agreement, any other Loan Document, or any documents
contemplated by or referred to herein or therein or the transactions contemplated hereby or
thereby, including without limitation, reasonable attorneys and consultant’s fees,
provided that such indemnity shall not, as to any

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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; provided further that such
indemnity shall not require the Borrower or any Credit Party to reimburse any Indemnitee
(other than the Arrangers, the Administrative Agent and their respective Affiliates as
provided for in subsection (a) of this Section) for costs and expenses in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation,
execution, delivery and administration of this Agreement and the other Loan Documents.

          (c) Reimbursement by Lenders. To the extent that the Borrower for any reason
fails to indefeasibly pay any amount required under clause (a) or (b) of this Section to be
paid by it to the Administrative Agent (or any sub-agent thereof), the Issuing Lender or any
Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any such sub-agent), the Issuing Lender or such Related Party, as the
case may be, such Lender’s applicable percentage (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim, damage, liability
or related expense, as the case may be, was incurred by or asserted against the Administrative
Agent (or any such sub-agent) or the Issuing Lender in its capacity as such, or against any
Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent) or Issuing Lender in connection with such capacity. The obligations of the Lenders
under this clause (c) are subject to the provisions of Section 5.7.

          (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
Applicable Law, the Borrower shall not assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a
result of, this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the
use of the proceeds thereof. No Indemnitee referred to in clause (b) above shall be liable
for any damages arising from the use by unintended recipients of any information or other
materials distributed by it through
telecommunications, electronic or other information transmission systems in connection
with this Agreement or the other Loan Documents or the transactions contemplated hereby or
thereby.

          (e) Payments. All amounts due under this Section shall be payable promptly after
demand therefor.

     SECTION 14.3 Right of Set-off. If an Event of Default shall have occurred and be
continuing, each Lender, the Issuing Lender, the Swingline Lender and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted
by Applicable Law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the Issuing Lender, the Swingline Lender or any such
Affiliate to or for the credit or the account of the Borrower or any other Credit Party against

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any
and all of the obligations of the Borrower or such Credit Party now or hereafter existing under
this Agreement or any other Loan Document to such Lender, the Issuing Lender or the Swingline
Lender, irrespective of whether or not such Lender, the Issuing Lender or the Swingline Lender
shall have made any demand under this Agreement or any other Loan Document and although such
obligations of the Borrower or such Credit Party may be contingent or unmatured or are owed to a
branch or office of such Lender, the Issuing Lender or the Swingline Lender different from the
branch or office holding such deposit or obligated on such indebtedness. The rights of each
Lender, the Issuing Lender, the Swingline Lender and their respective Affiliates under this Section
are in addition to other rights and remedies (including other rights of setoff) that such Lender,
the Issuing Lender, the Swingline Lender or their respective Affiliates may have. Each Lender, the
Issuing Lender and the Swingline Lender agrees to notify the Borrower and the Administrative Agent
promptly after any such setoff and application; provided that the failure to give such
notice shall not affect the validity of such setoff and application.

     SECTION 14.4 Governing Law. This Agreement and the other Loan Documents, unless
expressly set forth therein, shall be governed by, and construed in accordance with, the law of the
State of New York (including Section 5-1401 and Section 5-1402 of the General Obligations Law of
the State of New York), without reference to the conflicts of law principles thereof.

     SECTION 14.5 Jurisdiction and Venue.

          (a) Submission to Jurisdiction. The Borrower and each other Credit Party
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the state and federal courts located in Mecklenburg County, North Carolina and
New York, New York, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement or any other Loan Document, or for recognition or
enforcement of any judgment, and each of the parties hereto irrevocably and unconditionally
agrees that all claims in respect of any such action or proceeding may be heard and determined
in such North Carolina or New York state court or, to the fullest extent permitted by
Applicable Law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement or in any other Loan Document shall
affect any right that the Administrative Agent, any Lender or the Issuing Lender may otherwise
have to bring any action or proceeding relating to this Agreement or any other Loan Document
against the Borrower or any other Credit Party or its properties in the courts of any
jurisdiction.

          (b) Waiver of Venue. The Borrower and each other Credit Party irrevocably and
unconditionally waive, to the fullest extent permitted by Applicable Law, any objection that
it may now or hereafter have to the laying of venue of any action or proceeding arising out of
or relating to this Agreement or any other Loan Document in any court referred to in paragraph
(a) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest
extent permitted by Applicable Law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.

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          (c) Service of Process. Each party hereto irrevocably consents to service of
process in the manner provided for notices in Section 14.1. Nothing in this Agreement will
affect the right of any party hereto to serve process in any other manner permitted by
Applicable Law.

     SECTION 14.6 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     SECTION 14.7 Reversal of Payments. To the extent the Borrower makes a payment or
payments to the Administrative Agent for the ratable benefit of the Lenders or the Administrative
Agent receives any payment or proceeds of the collateral which payments or proceeds or any part
thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or
required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or
federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid,
the Obligations or part thereof intended to be satisfied shall be revived and continued in full
force and effect as if such payment or proceeds had not been received by the Administrative Agent.

     SECTION 14.8 Injunctive Relief. The Borrower recognizes that, in the event the
Borrower fails to perform, observe or discharge any of its obligations or liabilities under this
Agreement, any remedy of law may prove to be inadequate relief to the Lenders. Therefore, the
Borrower agrees that the Lenders, at the Lenders’ option, shall be entitled to temporary and
permanent injunctive relief in any such case without the necessity of proving actual damages.

     SECTION 14.9 Accounting Matters. If at any time any change in GAAP would affect the
computation of any financial ratio or requirement set forth in any Loan Document, and either the
Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the
Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original
intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders);
provided that, until so amended, (i) such ratio or requirement shall continue to be
computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide
to the Administrative Agent and the Lenders financial statements and other documents required under
this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in
GAAP.

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     SECTION 14.10 Successors and Assigns; Participations.

          (a) Successors and Assigns Generally. 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, except that neither the Borrower nor any other Credit Party may
assign or otherwise transfer any of its rights or obligations hereunder without the prior
written consent of the Administrative Agent and each Lender and no Lender may assign or
otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in
accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation
in accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge
or assignment of a security interest subject to the restrictions of paragraph (f) of this
Section (and any other attempted assignment or transfer by any party hereto shall be null and
void). 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, Participants to the extent provided in paragraph (d) of this Section and, to the
extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent
and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

          (b) Assignments by Lenders. Any Lender may at any time 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 Revolving Credit Commitment and the Loans at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

          (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Revolving Credit Commitment and the Loans at the time owing to it
or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved
Fund, no minimum amount need be assigned; and

     (B) in any case not described in paragraph (b)(i)(A) of this Section, the
aggregate amount of the Revolving Credit Commitment (which for this purpose includes
Loans outstanding thereunder) or, if the applicable Revolving Credit Commitment is
not then in effect, the principal outstanding balance of the Loans of the assigning
Lender subject to each such assignment (determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent
or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date) shall not be less than $5,000,000, in the case of any assignment in respect of
the Revolving Credit Facility, or $1,000,000, in the case of any assignment in
respect of the Term Loan Facility, unless each of the Administrative Agent and, so
long as no Default or Event of Default has occurred and is continuing, the Borrower
otherwise consents (each such consent not to be unreasonably withheld or delayed);

93

 

               (ii) Proportionate Amounts. 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 with
respect to the Loan or the Revolving Credit Commitment assigned;

               (iii) Required Consents. No consent shall be required for any assignment except to
the extent required by paragraph (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (x) a Default or Event of Default has occurred
and is continuing at the time of such assignment or (y) such assignment is to a
Lender, an Affiliate of a Lender or an Approved Fund;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of
(i) the Revolving Credit Facility if such assignment is to a Person that is not a
Lender with a Revolving Credit Commitment, an Affiliate of such Lender or an
Approved Fund with respect to such Lender or (ii) the Term Loan Facility to a Person
who is not a Lender, an Affiliate of a Lender or an Approved Fund; and

     (C) the consents of the Issuing Lender and the Swingline Lender (such consents
not to be unreasonably withheld or delayed) shall be required for any assignment
that increases the obligation of the assignee to participate in exposure under one
or more Letters of Credit (whether or not then outstanding) or for any assignment in
respect of the Revolving Credit Facility.

               (iv) Assignment and Assumption. 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 for each assignment, and the assignee, if it is not a Lender, shall
deliver to the Administrative Agent an Administrative Questionnaire.

               (v) No Assignment to Borrower. No such assignment shall be made to the Borrower or
any of the Borrower’s Affiliates or Subsidiaries.

               (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural
person.

          Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph
(c) of this Section, from and after the effective date specified in each Assignment and Assumption,
the assignee thereunder shall be a party to this Agreement 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 5.8, 5.9, 5.10, 5.11 and 14.2 with respect to facts and
circumstances occurring prior to the effective date of such assignment. Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this paragraph
shall be treated for purposes of this Agreement as a sale by such

94

 

Lender of a participation in such
rights and obligations in accordance with paragraph (d) of this Section.

          (c) Register. The Administrative Agent, acting solely for this purpose as an
agent of the Borrower, shall maintain at one of its offices in Charlotte, North Carolina, 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 Revolving Credit Commitment of, and principal
amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower and any Lender (but only to the extent of entries in the Register
that are applicable to such Lender), at any reasonable time and from time to time upon
reasonable prior notice.

          (d) Participations. Any Lender may at any time, without the consent of, or
notice to, the Borrower or the Administrative Agent, sell participations to any Person (other
than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Agreement (including all or a portion of its Revolving Credit Commitment and/or the
Loans owing to it); provided that (i) such Lender’s obligations under this Agreement
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations and (iii) the Borrower, the Administrative
Agent, Issuing Lender, Swingline Lender and the other Lenders shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement.

          Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver or modification described in
Section 14.11 that directly affects such Participant and could not be affected by a vote of the
Required Lenders. Subject to paragraph (e) of this Section, the Borrower agrees that each
Participant shall be entitled to the benefits of Sections 5.8, 5.9, 5.10 and 5.11 to the same
extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b)
of this Section. To the extent permitted by law, each Participant also shall be entitled to the
benefits of Section 14.3 as though it were a Lender, provided such Participant agrees to be subject
to Section 5.6 as though it were a Lender.

          (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Sections 5.10 and 5.11 than the applicable Lender would
have been entitled to receive with respect to the participation sold to such Participant,
unless the sale of the participation to such Participant is made with the Borrower’s prior
written consent. A Participant that would be a Foreign Lender if it were a Lender shall not
be entitled to the benefits of Section 5.11 unless the Borrower is

95

 

notified of the
participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply with Section 5.11(e) as though it were a Lender.

          (f) Certain Pledges. Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement to secure obligations of
such Lender, including without limitation any pledge or assignment to secure obligations to a
Federal Reserve Bank; provided that no such pledge or assignment shall release such
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for
such Lender as a party hereto.

     SECTION 14.11 Amendments, Waivers and Consents. Except as set forth below or as
specifically provided in any Loan Document, any term, covenant, agreement or condition of this
Agreement or any of the other Loan Documents may be amended or waived by the Lenders, and any
consent given by the Lenders, if, but only if, such amendment, waiver or consent is in writing
signed by the Required Lenders (or by the Administrative Agent with the consent of the Required
Lenders) and delivered to the Administrative Agent and, in the case of an amendment, signed by the
Borrower; provided, that no amendment, waiver or consent shall:

          (a) waive any condition set forth in Section 6.2 without the written consent of each
Lender directly affected thereby;

          (b) amend Section 12.1 or waive any of the conditions, or waive any Default or Event of
Default, for purposes of waiving any of the conditions set forth in Section 6.3 without the
prior written consent of any combination of Revolving Credit Lenders whose Revolving Credit
Commitment aggregate more than fifty percent (50%) of the Revolving Credit Commitment;

          (c) extend or increase the Revolving Credit Commitment of any Lender (or reinstate any
Revolving Credit Commitment terminated pursuant to Section 12.2) or the amount of Loans of
any Lender without the written consent of such Lender;

          (d) postpone any date fixed by this Agreement or any other Loan Document for any payment
of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder
or under any other Loan Document without the written consent of each Lender directly affected
thereby;

          (e) reduce the principal of, or the rate of interest specified herein on, any Loan or
Reimbursement Obligation, or (subject to clause (iv) of the second proviso to this Section)
any fees or other amounts payable hereunder or under any other Loan Document without the
written consent of each Lender directly affected thereby; provided that only the
consent of the Required Lenders shall be necessary to amend any financial covenant hereunder
(or any defined term used therein) even if the effect of such amendment would be to reduce
the rate of interest on any Loan or Letter of Credit or to reduce any fee payable hereunder;

          (f) change Section 5.4 or Section 12.4 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each Lender
directly affected thereby;

96

 

          (g) change Section 4.4(b)(vii) in a manner that would alter the order of application of
amounts prepaid pursuant thereto without the written consent of each Lender directly affected
thereby;

          (h) change any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend,
waive or otherwise modify any rights hereunder or make any determination or grant any consent
hereunder, without the written consent of each Lender directly affected thereby; or

          (i) release all or a material portion of the Collateral or release any Security Document
(other than as authorized in Section 13.9 or as otherwise specifically permitted or
contemplated in this Agreement or the applicable Security Document) without the written
consent of each Lender;

          provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the Issuing Lender in addition to the Lenders required above, affect the
rights or duties of the Issuing Lender under this Agreement or any Letter of Credit Application
relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent
shall, unless in writing and signed by the Swingline Lender in addition to the Lenders required
above, affect the rights or duties of the Swingline Lender under this Agreement; (iii) no
amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in
addition to the Lenders required above, affect the rights or duties of the Administrative Agent
under this Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights
or privileges thereunder waived, in a writing executed only by the parties thereto.
Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that the Revolving Credit
Commitment of such Lender may not be increased or extended without the consent of such Lender.

     SECTION 14.12 Confidentiality. Each of the Administrative Agent and the Lenders
agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its Affiliates’ respective partners,
directors, officers, employees, advisors, agents and other representatives, 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, or required to be disclosed to, any
rating agency, or regulatory or similar authority purporting to have jurisdiction over it
(including any self-regulatory authority, such as the National Association of Insurance
Commissioners), (c) to the extent required by Applicable Laws or regulations or by any subpoena or
similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any
remedies under this Agreement or under any other Loan Document (or any Hedging Agreement with a
Lender or the Administrative Agent) or any action or proceeding relating to this Agreement or any
other Loan Document (or any Hedging Agreement with a Lender or the Administrative Agent) 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,
Participant or proposed Participant or (ii) any actual or prospective counterparty (or its
advisors)

97

 

to any swap or derivative transaction relating to the Borrower and its obligations, (g)
with the consent of the Borrower, (h) to Gold Sheets and other similar bank trade
publications, such information to consist of deal terms and other information customarily found in
such publications, or (i) to the extent such Information (x) becomes publicly available other than
as a result of a breach of this Section or (y) becomes available to the Administrative Agent or any
Lender or any of their respective Affiliates on a nonconfidential basis from a source other than
the Borrower or (j) to governmental regulatory authorities in connection with any regulatory
examination of the Administrative Agent or any Lender or in accordance with the Administrative
Agent’s or any Lender’s regulatory compliance policy if the Administrative Agent or such Lender
deems necessary for the mitigation of claims by those authorities against the Administrative Agent
or such Lender or any of its subsidiaries or affiliates. For purposes of this Section,
“Information” means all information received from any Credit Party relating to any Credit
Party or any of their respective businesses, other than any such information that is available to
the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by any Credit
Party; provided that, in the case of written information received from a Credit Party 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 14.13 Performance of Duties. The Borrower’s obligations under this Agreement
and each of the other Loan Documents shall be performed by the Borrower at its sole cost and
expense.

     SECTION 14.14 All Powers Coupled with Interest. All powers of attorney and other
authorizations granted to the Lenders, the Administrative Agent and any Persons designated by the
Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the other
Loan Documents shall be deemed coupled with an interest and shall be irrevocable so long as
any of the Obligations remain unpaid or unsatisfied, any of the Commitments remain in effect
or the Credit Facility has not been terminated.

     SECTION 14.15 Survival of Indemnities. Notwithstanding any termination of this
Agreement, the indemnities to which the Administrative Agent and the Lenders are entitled under the
provisions of this Article XIV and any other provision of this Agreement and the other Loan
Documents shall continue in full force and effect and shall protect the Administrative Agent and
the Lenders against events arising after such termination as well as before.

     SECTION 14.16 Titles and Captions. Titles and captions of Articles, Sections and
subsections in, and the table of contents of, this Agreement are for convenience only, and neither
limit nor amplify the provisions of this Agreement.

     SECTION 14.17 Severability of Provisions. Any provision of this Agreement or any
other Loan Document which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without
invalidating the remainder of such provision or the remaining provisions hereof or thereof or
affecting the validity or enforceability of such provision in any other jurisdiction.

98

 

     SECTION 14.18 Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto in different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and 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. In the event of any
conflict between the provisions of this Agreement and those of any other Loan Document, the
provisions of this Agreement shall control; provided that the inclusion of supplemental
rights or remedies in favor of the Administrative Agent or the Lenders in any other Loan Document
shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint
participation of the respective parties thereto and shall be construed neither against nor in favor
of any party, but rather in accordance with the fair meaning thereof. Except as provided in
Section 6.2, 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
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this agreement by telecopy shall be effective as
delivery of a manually executed counterpart of this Agreement.

     SECTION 14.19 Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include
electronic signatures or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act.

     SECTION 14.20 Term of Agreement. This Agreement shall remain in effect from the
Closing Date through and including the date upon which all Obligations arising hereunder or under
any other Loan Document shall have been indefeasibly and irrevocably paid and satisfied in full and
all Commitments have been terminated. The Administrative Agent is hereby permitted to release all
Liens on the Collateral in favor of the Administrative Agent, for the ratable benefit of itself and
the Lenders, upon repayment of the outstanding principal of and all accrued interest on the Loans,
payment of all outstanding fees and expenses hereunder and the termination of the Lender’s
Commitments. No termination of this Agreement shall affect the rights and obligations of the
parties hereto arising prior to such termination or in respect of any provision of this Agreement
which survives such termination.

     SECTION 14.21 Advice of Counsel. Each of the parties represents to each other party
hereto that it has discussed this Agreement with its counsel.

     SECTION 14.22 USA Patriot Act. The Administrative Agent and each Lender hereby
notifies the Borrower that pursuant to the requirements of the Patriot Act, it is required to
obtain, verify and record information that identifies the Borrower and Guarantors, which
information includes the name and address of each Borrower and Guarantor and other information that
will allow such Lender to identify such Borrower or Guarantor in accordance with the Act.

99

 

     SECTION 14.23 Independent Effect of Covenants. The Borrower expressly
acknowledges and agrees that each covenant contained in Articles IX, X, or XI hereof shall be given
independent effect. Accordingly, the Borrower shall not engage in any transaction or other act
otherwise permitted under any covenant contained in Articles IX, X, or XI if, before or after
giving effect to such transaction or act, if as a result of such transaction or act, the Borrower
shall or would be in breach of any other covenant contained in Articles IX, X, or XI.

     SECTION 14.24 Collateral. Each of the parties hereto represents to each of the other
parties hereto that it in good faith is not relying upon any Margin Stock as collateral in the
extension or maintenance of the credit provided for in this Agreement.

[Signature pages to follow]

100

 

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

	 	 	 	 	 	 	 
	 	 	JACK IN THE BOX INC., as Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Harold L. Sachs
 

	 	 
	 

	 	Name:
	 	Harold L. Sachs	 	 
	 

	 	Title:
	 	Vice President and Treasurer	 	 

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL	 	 
	 	 	ASSOCIATION, as Administrative Agent and	 	 
	 	 	Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kira L. Deter
 

	 	 
	 

	 	Name:
	 	Kira L. Deter	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	CITY NATIONAL BANK, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael V. Tyminski
 

	 	 
	 

	 	Name:
	 	Michael V. Tyminski	 	 
	`

	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	FORTIS CAPITAL CORP., as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Clay Jackson
 

	 	 
	 

	 	Name:
	 	Clay Jackson	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Timothy Streb
 

	 	 
	 

	 	Name:
	 	Timothy Streb	 	 
	 

	 	Title:
	 	Managing Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	ROYAL BANK OF CANADA, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gordon MacArthur
 

	 	 
	 

	 	Name:
	 	Gordon MacArthur	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

 

 

	 	 	 	 	 	 	 
	 	 	AGSTAR FINANCIAL SERVICES, PCA/FLCA,	 	 
	 	 	as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Troy Mostaert
 

	 	 
	 

	 	Name:
	 	Troy Mostaert	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	Badgerland Farm Credit Services, FLCA	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Kenneth H. Rue
 

Kenneth H. Rue
	 	 
	 

	 	Title:
	 	Agribusiness Finance Officer	 	 

 

 

	 	 	 	 	 	 	 
	 	 	UNION BANK OF CALIFORNIA, N.A., as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Douglas S. Lambell
 

	 	 
	 

	 	Name:
	 	Douglas S. Lambell	 	 
	 

	 	Title:
	 	Vice President / SCM	 	 

 

 

	 	 	 	 	 	 	 
	 	 	State Bank of India, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Rakesh Chandra
 

	 	 
	 

	 	Name:
	 	Rakesh Chandra	 	 
	 

	 	Title:
	 	Vice President & Head (Credit)	 	 

 

 

	 	 	 	 	 	 	 
	 	First Tennessee Bank National Association, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James H. Moore, Jr.
 

	 	 
	 

	 	Name:
	 	James H. Moore, Jr.	 	 
	 

	 	Title:
	 	SVP	 	 

 

 

	 	 	 	 	 	 	 
	 	 	RAYMOND JAMES BANK, FSB, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joseph A. Ciccolini
 

	 	 
	 

	 	Name:
	 	Joseph A. Ciccolini	 	 
	 

	 	Title:
	 	Vice President — Senior Corporate Banker	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MORGAN STANLEY BANK, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Todd Vannucci
 

	 	 
	 

	 	Name:
	 	Todd Vannucci	 	 
	 

	 	Title:
	 	VICE PRESIDENT	 	 

 

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL	 	 
	 

	 	ASSOCIATION, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ J. Nicholas Cole
 

	 	 
	 

	 	Name:
	 	J. Nicholas Cole	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Stephen A. Leon
 

	 	 
	 

	 	Name:
	 	Stephen A. Leon	 	 
	 

	 	Title:
	 	Managing Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	U.S. Bank National Association, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Janet Jordan
 

	 	 
	 

	 	Name:
	 	Janet Jordan	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	United Overseas Bank Limited, Los Angeles	 	 
	 	 	Agency, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Hoong Chen
 

	 	 
	 

	 	Name:
	 	Hoong Chen	 	 
	 

	 	Title:
	 	FVP & GM	 	 

 

 

	 	 	 	 	 	 	 
	 	 	PNC Bank, National Association, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Philip K. Liebscher
 

	 	 
	 

	 	Name:
	 	Philip K. Liebscher	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	Bank of the West, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Terry A. Switz, Jr.
 

	 	 
	 

	 	Name:
	 	Terry A. Switz, Jr.	 	 
	 

	 	Title:
	 	AVP/Relationship Manager	 	 

 

 

	 	 	 	 	 	 	 
	 	 	HSBC Bank USA, National Association, as	 	 
	 	 	Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Jean M. Frammolino
 

	 	 
	 

	 	Name:
	 	Jean M. Frammolino	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MANUFACTURERS BANK, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sandy Lee
 

	 	 
	 

	 	Name:
	 	Sandy Lee	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	Comerica West Incorporated, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Don R. Carruth
 

	 	 
	 

	 	Name:
	 	Don R. Carruth	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	LaSalle Bank National Association, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sarabelle Hitchner
 

	 	 
	 

	 	Name:
	 	Sarabelle Hitchner	 	 
	 

	 	Title:
	 	First Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	GreenStone Farm Credit Services, ACA/FLCA,	 	 
	 	 	as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alfred S. Compton, Jr.
 

	 	 
	 

	 	Name:
	 	Alfred S. Compton, Jr.	 	 
	 

	 	Title:
	 	VP/Sr. Lending Officer	 	 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Crédit Industriel et Commercial, as Lender
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Brian O’Leary
	 	/s/ Anthony Rock	 	 
	 

	 	 	 	 

	 	 

	 	 
	 

	 	Name:
	 	Brian O’Leary
	 	Anthony Rock	 	 
	 

	 	Title:
	 	Vice President
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	COÖPERATIEVE CENTRALE RAIFFEISEN-	 	 
	 	BOERENLEENBANK B.A. “RABOBANK	 	 
	 	INTERNATIONAL” NEW YORK BRANCH, as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Eric Baymiller
 

	 	 
	 

	 	Name:
	 	Eric Baymiller	 	 
	 

	 	Title:
	 	Executive Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Rebecca O. Morrow
 

	 	 
	 

	 	Name:
	 	Rebecca O. Morrow	 	 
	 

	 	Title:
	 	Executive Director	 	 

 

 

	 	 	 	 	 
	 	Bank of America, N.A., as Lender

 	 
	 	By:  	/s/ Angelo Maragos
 	 
	 	 	Name:  	Angelo Maragos 	 
	 	 	Title:  	Vice Presidentexv10w2

 

EXHIBIT 10.2

 

COLLATERAL AGREEMENT

dated as of December 15, 2006

by and among

JACK IN THE BOX INC.,

and certain of its Subsidiaries

as Grantors,

in favor of

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE I DEFINED TERMS	 	 	i	 
	SECTION 1.1.

	 	Terms Defined in the Uniform Commercial Code
	 	 	1	 
	SECTION 1.2.

	 	Definitions
	 	 	1	 
	 
	 	 	 	 	 	 
	ARTICLE II SECURITY INTEREST	 	 	3	 
	SECTION 2.1.

	 	Grant of Security Interest
	 	 	3	 
	SECTION 2.2.

	 	Grantors Remain Liable
	 	 	4	 
	 
	 	 	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES	 	 	4	 
	SECTION 3.1.

	 	Existence
	 	 	4	 
	SECTION 3.2.

	 	Authorization of Agreement; No Conflict
	 	 	4	 
	SECTION 3.3.

	 	Consents
	 	 	5	 
	SECTION 3.4.

	 	Perfected First Priority Liens
	 	 	5	 
	SECTION 3.5.

	 	Title, No Other Liens
	 	 	5	 
	SECTION 3.6.

	 	State of Organization; Location of Inventory,
Equipment and Fixtures; other Information
	 	 	5	 
	 
	 	 	 	 	 	 
	ARTICLE IV COVENANTS	 	 	6	 
	SECTION 4.1.

	 	Maintenance of Perfected Security Interest; Further Information
	 	 	6	 
	SECTION 4.3.

	 	Required Notifications
	 	 	7	 
	SECTION 4.4.

	 	Delivery Covenants
	 	 	7	 
	SECTION 4.6.

	 	Investment Property; Partnership/LLC Interests
	 	 	7	 
	SECTION 4.7.

	 	Further Assurances
	 	 	8	 
	 
	 	 	 	 	 	 
	ARTICLE V REMEDIAL PROVISIONS	 	 	8	 
	SECTION 5.1.

	 	General Remedies
	 	 	8	 
	SECTION 5.2.

	 	Specific Remedies
	 	 	9	 
	SECTION 5.3.

	 	Application of Proceeds
	 	 	10	 
	SECTION 5.4.

	 	Waiver, Deficiency
	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE VI THE ADMINISTRATIVE AGENT	 	 	11	 
	SECTION 6.1.

	 	Administrative Agent’s Appointment as Attorney-In-Fact
	 	 	11	 
	SECTION 6.2.

	 	Duty of Administrative Agent
	 	 	12	 
	SECTION 6.3.

	 	Authority of Administrative Agent
	 	 	12	 
	 
	 	 	 	 	 	 
	ARTICLE VII MISCELLANEOUS	 	 	12	 
	SECTION 7.1.

	 	Amendments in Writing
	 	 	12	 
	SECTION 7.2.

	 	Notices
	 	 	13	 
	SECTION 7.3.

	 	No Waiver by Course of Conduct, Cumulative Remedies
	 	 	13	 
	SECTION 7.4.

	 	Enforcement Expenses, Indemnification
	 	 	13	 
	SECTION 7.5.

	 	Waiver of Jury Trial
	 	 	14	 
	SECTION 7.6.

	 	Successors and Assigns
	 	 	14	 
	SECTION 7.7.

	 	Set-Off
	 	 	14	 
	SECTION 7.8.

	 	Counterparts
	 	 	15	 
	SECTION 7.9.

	 	Severability
	 	 	15	 
	SECTION 7.10.

	 	Section Heading
	 	 	15	 
	SECTION 7.11.

	 	Integration
	 	 	15	 
	SECTION 7.12.

	 	Governing Law
	 	 	15	 

i

 

	 	 	 	 	 	 	 
	SECTION 7.13.

	 	Consent to Jurisdiction
	 	 	15	 
	SECTION 7.14.

	 	Acknowledgements
	 	 	16	 
	SECTION 7.15.

	 	Additional Grantors
	 	 	16	 
	SECTION 7.16.

	 	Releases; No Novation
	 	 	16	 

ii

 

EXECUTION COPY

     COLLATERAL AGREEMENT (this “Agreement”), dated as of December 15, 2006, by and
among JACK IN THE BOX INC., a Delaware corporation (the “Company”), certain of its
Subsidiaries as identified on the signature pages hereto and any Additional Grantor (as defined
below) who may become party to this Agreement (such Subsidiaries and Additional Grantors,
collectively, with the Company, the “Grantors”), in favor of WACHOVIA BANK, NATIONAL
ASSOCIATION, as Administrative Agent (in such capacity, the “Administrative Agent”) for the
ratable benefit of (a) itself and the other financial institutions (the “Lenders”) from
time to time party to the Credit Agreement dated as of the date hereof (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among
the Company, as borrower (the “Borrower”), the Lenders, and the Administrative Agent and
(b) any party to a Hedging Agreement that was (i) a Lender or (ii) an Affiliate of a Lender at the
time such Hedging Agreement was entered into (collectively with the Lenders, the “Secured
Parties”).

STATEMENT OF PURPOSE

     Pursuant to the Credit Agreement, the Lenders have agreed to make Extensions of Credit to the
Borrower upon the terms and subject to the conditions set forth therein.

     It is a condition precedent to the obligation of the Lenders to make their respective
Extensions of Credit to the Borrower under the Credit Agreement that the Grantors shall have
executed and delivered this Agreement to the Administrative Agent and the Secured Parties.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties hereto, and to induce the Administrative Agent and the Lenders
to enter into the Credit Agreement and to induce the Lenders to make their respective Extensions of
Credit to the Borrower thereunder, each Grantor hereby agrees with the Administrative Agent and the
Secured Parties, as follows:

ARTICLE I

DEFINED TERMS

     SECTION 1.1. Terms Defined in the Uniform Commercial Code.

     (a) The following terms when used in this Agreement shall have the meanings assigned to them
in the UCC (as defined in Section 1.2 below) as in effect from time to time: “Issuer”,
“Proceeds”, “Securities Entitlement”, “Securities Intermediary” and
“Securities Account”.

     (b) Terms defined in the UCC and not otherwise defined herein or in the Credit Agreement shall
have the meaning assigned in the UCC as in effect from time to time.

     SECTION 1.2. Definitions. The following terms when used in this Agreement shall have
the meanings assigned to them below:

 

 

     “Additional Grantor” means each Restricted Subsidiary of the Company which hereafter
becomes a Grantor pursuant to Section 7.15 hereof and Section 9.9 of the Credit Agreement.

     “Agreement” means this Collateral Agreement, as amended, restated, supplemented or
otherwise modified from time to time.

     “Collateral” shall have the meaning assigned thereto in Section 2.1.

     “Control” means the manner in which “control” is achieved under the UCC with respect
to any Collateral for which the UCC specifies a method of achieving “control”.

     “Effective Endorsement and Assignment” means, with respect to any specific type of
Collateral, all such endorsements, assignments and other instruments of transfer reasonably
requested by the Administrative Agent with respect to the Security Interest granted in such
Collateral, and in each case, in form and substance reasonably satisfactory to the Administrative
Agent.

     “Guarantors” means the collective reference to each Person party to the Guaranty
Agreement.

     “Guaranty Agreement” shall have the meaning assigned thereto in the Credit Agreement.

     “Obligations” means with respect to the Borrower, the meaning assigned thereto in the
Credit Agreement and with respect to each Guarantor, the obligations of such Guarantor under the
Guaranty Agreement executed by such Guarantor.

     “Partnership/LLC Interests” means, with respect to any Grantor, the entire
partnership, membership interest or limited liability company interest, as applicable, of such
Grantor in each partnership, limited partnership or limited liability company owned thereby,
including, without limitation, such Grantor’s capital account, its interest as a partner or member,
as applicable, in the net cash flow, net profit and net loss, and items of income, gain, loss,
deduction and credit of any such partnership, limited partnership or limited liability company, as
applicable, such Grantor’s interest in all distributions made or to be made by any such
partnership, limited partnership or limited liability company, as applicable, to such Grantor and
all of the other economic rights, titles and interests of such Grantor as a partner or member, as
applicable, of any such partnership, limited partnership or limited liability company, as
applicable, whether set forth in the partnership agreement or membership agreement, as applicable,
of such partnership, limited partnership or limited liability company, as applicable, by separate
agreement or otherwise.

     “Permitted Liens” means those Liens permitted pursuant to Section 11.2 of the Credit
Agreement.

     “Pledged Stock” means all of the shares of capital stock of each Subsidiary Issuer
that is not a Partnership/LLC and all of the other economic rights, titles and interests of such
Grantor as
a shareholder or owner of such Subsidiary Issuer, whether set forth in the articles, bylaws or

2

 

other governing document of such Subsidiary Issuer, by separate agreement or otherwise, together
with all stock certificates and stock options that may be issued or granted by such Subsidiary
Issuer to the applicable Grantor.

     “Securities Act” means the Securities Act of 1933, including all amendments thereto
and regulations promulgated thereunder.

     “Security Interests” means the security interests granted pursuant to Article
II, as well as all other security interests created or assigned as additional security for the
Obligations pursuant to the provisions of the Credit Agreement.

     “Subsidiary Issuer” means any Issuer of Pledged Stock or any Partnership/LLC
Interests, which such Issuer is a direct Subsidiary of any Grantor from time to time party to this
Agreement.

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

     SECTION 1.3. Other Definitional Provisions. Capitalized terms defined in the Credit
Agreement and not otherwise defined herein shall have the meaning assigned thereto in the Credit
Agreement. The words “hereof,” “herein”, “hereto” and “hereunder” and words of similar import when
used in this Agreement shall refer to this Agreement as a whole and not to any particular provision
of this Agreement, and Section and Schedule references are to this Agreement unless otherwise
specified. The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms. Where the context requires, terms relating to the
Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s
Collateral or the relevant part thereof.

ARTICLE II

SECURITY INTEREST

     SECTION 2.1. Grant of Security Interest. Each Grantor hereby grants, pledges and
collaterally assigns to the Administrative Agent, for the ratable benefit of itself and the Secured
Parties, a security interest in, all of such Grantor’s right, title and interest in all Pledged
Stock, Partnership/LLC Interests and any and all proceeds thereof whether now owned or at any time
hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future
may acquire any right, title or interest, and wherever located or deemed located (collectively, the
“Collateral”), as collateral security for the prompt and complete payment and performance
when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations;
provided, that any Security Interest in any Collateral constituting Pledged Stock or
Partnership/LLC Interests issued by any Foreign Subsidiary shall be limited to sixty-six percent
(66%) of all issued and outstanding shares of all classes of voting Capital Stock of such Foreign
Subsidiary and one hundred percent (100%) of all issued and outstanding shares of all classes of
non-voting Capital Stock of such Foreign
Subsidiary; provided further that in no event shall the Collateral include or the Security
Interest attach to (a) any Margin Stock or (b) any agreement

3

 

with a Person other than a Grantor or
a Subsidiary of a Grantor that specifically prohibits in writing the pledge of, or granting of a
security interest or a Lien in (but not merely the assignment of or of any interest in), such
agreement or any of the Grantor’s rights under such agreement without the consent of such other
Person (unless such prohibition is not enforceable or is otherwise ineffective under Applicable Law
or the consent of such other Person has been obtained).

     SECTION 2.2. Grantors Remain Liable. Anything herein to the contrary notwithstanding:
(a) each Grantor shall remain liable under the contracts and agreements included in the Collateral
to the extent set forth therein to perform all of its duties and obligations thereunder (including,
without limitation, all of its obligations as a partner or member of any Partnership/LLC, if
applicable) to the same extent as if this Agreement had not been executed, (b) the exercise by
Administrative Agent of any of the rights hereunder shall not release any Grantor from any of its
duties or obligations under the contracts and agreements included in the Collateral (including,
without limitation, all of its obligations as a partner or member of any Partnership/LLC, if
applicable), (c) neither the Administrative Agent nor any Secured Party shall have any obligation
or liability under the contracts and agreements included in the Collateral by reason of this
Agreement (including, without limitation, any obligations or liabilities as a partner or member of
any Partnership/LLC), nor shall the Administrative Agent or any Secured Party be obligated to
perform any of the obligations or duties of any Grantor thereunder or to take any action to collect
or enforce any claim for payment assigned hereunder, and (d) neither the Administrative Agent nor
any Secured Party shall have any liability in contract or tort for any Grantor’s acts or omissions.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     To induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to
induce the Lenders to make their respective Extensions of Credit to the Borrower thereunder, each
Grantor hereby represents and warrants to the Administrative Agent and each Secured Party that:

     SECTION 3.1. Existence. Each Grantor (a) is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its incorporation or formation, (b) has the
power and authority to own its properties and to carry on its business as now being and hereafter
proposed to be conducted and (c) except to the extent that the failure to do so could not
reasonably be expected to have a Material Adverse Effect, is duly qualified and authorized to do
business in each jurisdiction in which the character of its properties or the nature of its
business requires such qualification and authorization.

     SECTION 3.2. Authorization of Agreement; No Conflict. Each Grantor has the right,
power and authority and has taken all necessary corporate and other action to authorize the
execution, delivery and performance of, this Agreement. This Agreement has been duly executed and
delivered by the duly authorized officers of each Grantor and this
Agreement constitutes the legal, valid and binding obligation of the Grantors enforceable in
accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization,

4

 

moratorium or similar state or federal debtor relief laws from time to time in
effect which affect the enforcement of creditors’ rights in general and the availability of
equitable remedies. The execution, delivery and performance by the Grantors of this Agreement will
not, by the passage of time, the giving of notice or otherwise, violate any Applicable Law or
Material Contract and will not result in the creation or imposition of any Lien upon or with
respect to any property now owned or hereafter acquired by any Grantor other than the Security
Interests.

     SECTION 3.3. Consents. No consent or authorization of, filing with, or other act by
or in respect of, any arbitrator or Governmental Authority and no consent of any other Person is
required in connection with the execution, delivery, performance, validity or enforceability
against any Grantor or any Subsidiary Issuer party to this Agreement, except (a) as may be required
by laws affecting the offering and sale of securities generally, (b) filings under the UCC, and (c)
for such consents, authorizations and filings that have been obtained or made prior to the date
hereof.

     SECTION 3.4. Perfected First Priority Liens. Each financing statement naming any
Grantor as a debtor is in appropriate form for filing in the appropriate filing offices of the
states specified on Schedule 3.6. The Security Interests granted pursuant to this
Agreement (a) constitute valid security interests in all of the Collateral in favor of the
Administrative Agent, for the ratable benefit of itself and the Secured Parties, as collateral
security for the Obligations, and, upon the filing of appropriate financing statements, the
Security Interests will be perfected to the extent such Security Interests can be perfected by the
filing of financing statements and (b) are prior to all other Liens on the Collateral in existence
on the date hereof except for Permitted Liens.

     SECTION 3.5. Title, No Other Liens. Except for the Security Interests, each Grantor
has rights in each item of the Collateral free and clear of any and all Liens or claims other than
Permitted Liens. No Collateral is in the possession or Control of any Person asserting any claim
thereto or security interest therein, except that the Administrative Agent or its designee may
obtain possession or Control of Collateral as contemplated hereby.

     SECTION 3.6. State of Organization; Location of Inventory, Equipment and Fixtures; other
Information.

     (a) Each Grantor is organized under the laws of the state identified on Schedule 3.6
under such Grantor’s name. The taxpayer identification number and Registered Organization number
of each Grantor is set forth on Schedule 3.6 under such Grantor’s name.

     (b) The chief place of business, chief executive office and any other office where each
Grantor keeps its books and records relating to the Collateral are located at the locations
specified on Schedule 3.6 under such Grantor’s name. No Grantor does business nor has done
business during the past five years under any trade name or fictitious business name except as
disclosed on Schedule 3.6 under such Grantor’s name.

5

 

     SECTION 3.7. Pledged Stock; Partnership/LLC Interests.

     (a) As of the date hereof, all Pledged Stock and all Partnership/LLC Interests owned by any
Grantor are listed on Schedule 3.7.

     (b) All Pledged Stock and all Partnership/LLC Interests issued by any Subsidiary Issuer to any
Grantor (i) have been duly and validly issued and, if applicable, are fully paid and nonassessable,
(ii) are beneficially owned as of record by such Grantor and (iii) constitute all the issued and
outstanding shares of all classes of the Capital Stock of such Subsidiary Issuer issued to such
Grantor.

     (c) None of the Partnership/LLC Interests (i) are traded on a Securities exchange or in
Securities markets, (ii) by their terms expressly provide that they are Securities governed by
Article 8 of the UCC, (iii) are Investment Company Securities (as such term is defined in Section
8-103(b) of the UCC) or (iv) are held or maintained in the form of a Securities Entitlement or
credited to any Securities Account.

ARTICLE IV

COVENANTS

     Until the Obligations (other than any contingent indemnification obligations) shall have been
paid in full and the Commitments terminated, unless consent has been obtained in the manner
provided for in Section 7.1, each Grantor covenants and agrees that:

     SECTION 4.1. Maintenance of Perfected Security Interest; Further Information. Each
Grantor shall maintain the Security Interest created by this Agreement as a perfected Security
Interest (to the extent required to do so hereunder) having the priority described in Section 3.4
and shall defend such Security Interest against the claims and demands of all Persons whomsoever.

     SECTION 4.2. Changes in Locations; Changes in Name or Structure. No Grantor will,
except upon prior written notice to the Administrative Agent and delivery to the Administrative
Agent of all additional financing statements (executed if necessary for any particular filing
jurisdiction) and other instruments and documents reasonably requested by the Administrative Agent
to maintain the validity, perfection and priority of the Security Interests and (b) if applicable,
a written supplement to the Schedules to this Agreement:

     (i) change its jurisdiction of organization or the location of its chief executive office from
that identified on Schedule 3.6;

     (ii) change its name, identity or corporate or organizational structure to such an extent that
any financing statement filed by the Administrative Agent in connection with this Agreement would
become misleading; or

6

 

     (iii) permit any Collateral (other than Certificated Securities delivered to the
Administrative Agent pursuant to Section 4.4) to be held by any Securities Intermediary, held or
maintained in the form of a Securities Entitlement or credited to any Securities Account.

     SECTION 4.3. Required Notifications. Each Grantor shall promptly notify the
Administrative Agent, in writing, of: (a) any Lien (other than the Security Interests or Permitted
Liens) on any of the Collateral which would materially adversely affect the ability of the
Administrative Agent to exercise any of its remedies hereunder or (b) the acquisition or ownership
by such Grantor of any Collateral after the date hereof. At the request of the Administrative
Agent or the Required Lenders, each Grantor shall promptly deliver to the Administrative Agent and
in any event within ten (10) Business Days after such request updated Schedules to this Agreement.

     SECTION 4.4. Delivery Covenants. Each Grantor will deliver and pledge to the
Administrative Agent, for the ratable benefit of itself and the Secured Parties, all Collateral
evidenced by a certificate, in each case, together with an Effective Endorsement and Assignment.

     SECTION 4.5. Filing Covenants. Pursuant to Section 9-509 of the UCC and any other
Applicable Law, each Grantor authorizes the Administrative Agent to file or record financing
statements and other filing or recording documents or instruments with respect to the Collateral
without the signature of such Grantor in such form and in such offices as the Administrative Agent
determines appropriate to perfect the Security Interests of the Administrative Agent under this
Agreement. Such financing statements may describe the Collateral in the same manner as described
herein or may contain an indication or description of Collateral that describes such property in
any other manner as the Administrative Agent may reasonably determine, in its sole discretion, is
necessary, advisable or prudent to ensure the perfection of the Security Interest in the Collateral
granted herein. Further, a photographic or other reproduction of this Agreement shall be
sufficient as a financing statement or other filing or recording document or instrument for filing
or recording in any jurisdiction. Each Grantor hereby authorizes, ratifies and confirms all
financing statements and other filing or recording documents or instruments filed by the
Administrative Agent prior to the date of this Agreement.

     SECTION 4.6. Pledged Stock; Partnership/LLC Interests.

     (a) Without the prior written consent of the Administrative Agent, no Grantor will (i) vote to
enable, or take any other action to permit, any Subsidiary Issuer to issue any Pledged Stock or
Partnership/LLC Interests, except for such those additional Pledged Stock or Partnership/LLC
Interests that will be subject to the Security Interest granted herein in favor of the
Administrative Agent (which such Security Interest shall, in the case of any additional
Pledged Stock or Partnership/LLC Interests issued by a Foreign Subsidiary, be limited to sixty-six
percent (66%) of all issued and outstanding shares of all classes of voting Capital Stock of such
Foreign Subsidiary and one hundred percent (100%) of all issued and outstanding shares of all
classes of non-voting Capital Stock of such Foreign Subsidiary) or (ii) enter into any agreement or
undertaking restricting the right or ability of such Grantor or the Administrative Agent to sell,
assign or transfer any Pledged Stock or Partnership/LLC Interests or Proceeds thereof. The
Grantors will defend the right, title and interest of the Administrative Agent in and

7

 

to any
Pledged Stock and Partnership/LLC Interests against the claims and demands of all Persons
whomsoever.

     (b) If any Grantor shall become entitled to receive or shall receive (i) any Certificated
Securities (including, without limitation, any certificate representing a stock dividend or a
distribution in connection with any reclassification, increase or reduction of capital or any
certificate issued in connection with any reorganization), option or rights in respect of the
ownership interests of any Subsidiary Issuer, whether in addition to, in substitution of, as a
conversion of, or in exchange for, any Collateral, or otherwise in respect thereof, or (ii) any
sums paid upon or in respect of any Collateral upon the liquidation or dissolution of any
Subsidiary Issuer (other than as permitted pursuant to the Credit Agreement), such Grantor shall
accept the same as the agent of the Administrative Agent and the Secured Parties, hold the same in
trust for the Administrative Agent and the Secured Parties, segregated from other funds of such
Grantor, and promptly deliver the same to the Administrative Agent in accordance with the terms
hereof.

     SECTION 4.7. Further Assurances. Upon the request of the Administrative Agent and at
the sole expense of the Grantors, each Grantor will promptly and duly execute and deliver, and have
recorded, such further instruments and documents and take such further actions as the
Administrative Agent may reasonably request for the purpose of obtaining or preserving the full
benefits of this Agreement and of the rights and powers herein granted.

ARTICLE V

REMEDIAL PROVISIONS

     SECTION 5.1. General Remedies. If an Event of Default shall occur and be continuing,
the Administrative Agent, on behalf of the Secured Parties, may exercise, in addition to all other
rights and remedies granted to them in this Agreement and in any other instrument or agreement
securing, evidencing or relating to the Obligations, all rights and remedies of a secured party
under the UCC or any other Applicable Law. Without limiting the generality of the foregoing, the
Administrative Agent, without demand of performance or other demand, presentment, protest,
advertisement or notice of any kind (except any notice required by law referred to below) to or
upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and
notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and
realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give
option or options to purchase, or otherwise dispose of and deliver the Collateral or any part
thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale
or sales, at any exchange,
broker’s board or office of the Administrative Agent or any Secured Party or elsewhere upon such
terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or
on credit or for future delivery without assumption of any credit risk. The Administrative Agent
or any Secured Party shall have the right upon any such public sale or sales, and, to the extent
permitted by law, upon any such private sale or sales, to purchase the whole or any part of the
Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity
is hereby waived and released. To the extent permitted by Applicable Law, each Grantor waives all
claims, damages and demands it may acquire against the Administrative Agent or any Secured Party
arising out of

8

 

the exercise by them of any rights hereunder except to the extent any such claims,
damages, or demands result solely from the gross negligence or willful misconduct of the
Administrative Agent or any Secured Party, as determined by a court of competent jurisdiction by a
final and nonapppealable judgment, in each case against whom such claim is asserted. If any notice
of a proposed sale or other disposition of Collateral shall be required by law, such notice shall
be deemed reasonable and proper if given at least ten (10) days before such sale or other
disposition.

     SECTION 5.2. Specific Remedies.

     (a) Upon the occurrence and during the continuance of an Event of Default, the Administrative
Agent shall have the right to receive any and all cash dividends, payments or distributions made in
respect of any Pledged Stock or Partnership/LLC Interests or other Proceeds paid in respect of any
Pledged Stock or Partnership/LLC Interests, and any or all of any Pledged Stock or Partnership/LLC
Interests shall be registered in the name of the Administrative Agent or its nominee, and the
Administrative Agent or its nominee may thereafter exercise (i) all voting, corporate and other
rights pertaining to such Pledged Stock or Partnership/LLC Interests at any meeting of
shareholders, partners or members of the relevant Subsidiary Issuers and (ii) any and all rights of
conversion, exchange and subscription and any other rights, privileges or options pertaining to
such Pledged Stock or Partnership/LLC Interests as if it were the absolute owner thereof
(including, without limitation, the right to exchange at its discretion any and all of the Pledged
Stock or Partnership/LLC Interests upon the merger, consolidation, reorganization, recapitalization
or other fundamental change in the corporate, partnership or company structure of any Subsidiary
Issuer or upon the exercise by any Grantor or the Administrative Agent of any right, privilege or
option pertaining to such Pledged Stock or Partnership/LLC Interests, and in connection therewith,
the right to deposit and deliver any and all of the Pledged Stock or Partnership/LLC Interests with
any committee, depositary, transfer agent, registrar or other designated agency upon such terms and
conditions as the Administrative Agent may determine), all without liability except to account for
property actually received by it; but the Administrative Agent shall have no duty to any Grantor to
exercise any such right, privilege or option and the Administrative Agent and the Secured Parties
shall not be responsible for any failure to do so or delay in so doing. In furtherance thereof,
each Grantor hereby authorizes and instructs each Subsidiary Issuer with respect to any Collateral
consisting of Pledged Stock or Partnership/LLC Interests to (i) comply with any instruction
received by it from the Administrative Agent in writing that (A) states that an Event of Default
has occurred and is continuing and (B) is otherwise in accordance with the terms of this Agreement,
without any other or further instructions from such Grantor, and each Grantor agrees that each
Subsidiary Issuer shall be fully protected in so complying, and (ii) upon and during the
continuance of an Event of Default, pay
any dividends, distributions or other payments with respect to any Pledged Stock or Partnership/LLC
Interests directly to the Administrative Agent.

     (b) Unless an Event of Default shall have occurred and be continuing and the Administrative
Agent shall have given notice to the relevant Grantor of the Administrative Agent’s intent to
exercise its corresponding rights pursuant to Section 5.2(a), each Grantor shall be permitted to
receive all cash dividends, payments or other distributions made in respect of any Pledged Stock or
Partnership/LLC Interests, to the extent permitted in the Credit Agreement, and

9

 

to exercise all
voting and other corporate, company and partnership rights with respect to any Pledged Stock or
Partnership/LLC Interests.

     (c) Each Grantor recognizes that the Administrative Agent may be unable to effect a public
sale of any or all the Collateral, by reason of certain prohibitions contained in the Securities
Act and applicable state securities laws or otherwise, and may be compelled to resort to one or
more private sales thereof to a restricted group of purchasers which will be obliged to agree,
among other things, to acquire such securities for their own account for investment and not with a
view to the distribution or resale thereof. Each Grantor acknowledges and agrees that any such
private sale may result in prices and other terms less favorable than if such sale were a public
sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to
have been made in a commercially reasonable manner. The Administrative Agent shall be under no
obligation to delay a sale of any of the Collateral for the period of time necessary to permit the
Issuer thereof to register such securities for public sale under the Securities Act, or under
applicable state securities laws, even if such Issuer would agree to do so.

     (d) Each Grantor agrees to use its commercially reasonable efforts to do or cause to be done
all such other acts as may be necessary to make such sale or sales of all or any portion of the
Collateral valid and binding and in compliance with any and all other Applicable Laws.

     SECTION 5.3. Application of Proceeds. At such intervals as may be agreed upon by the
Company and the Administrative Agent, or, if an Event of Default shall have occurred and be
continuing, at any time at the Administrative Agent’s election, the Administrative Agent may apply
all or any part of the Collateral or any Proceeds of the Collateral in payment in whole or in part
of the Obligations (after deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the Collateral or in any
way relating to the Collateral or the rights of the Administrative Agent and the Secured Parties
hereunder, including, without limitation, reasonable attorneys’ fees and disbursements) in
accordance with Section 12.4 of the Credit Agreement. Any balance of such Proceeds remaining shall
be paid over to the Company, on behalf of the Grantors, or to whomsoever (if such Person is not a
Grantor) may be lawfully entitled to receive the same. Only after (i) the payment by the
Administrative Agent of any other amount required by any provision of law, including, without
limitation, Section 9-608 and Section 9-615 of the UCC and (ii) the payment in full of the
Obligations (other than any contingent indemnification obligations) and the termination of the
Commitments, shall the Administrative Agent account for the surplus, if any, to any Grantor, or to
whomever may be lawfully entitled to receive the same (if such Person is not a Grantor).

     SECTION 5.4. Waiver, Deficiency. Except to the extent prohibited under Applicable Law
(including Section 9-602 of the UCC), each Grantor waives and agrees not to assert any rights or
privileges which it may acquire under Sections 9-210, 9-607, 9-608, 9-610, 9-615, 9-620, 9-621,
9-623, 9-624, 9-625 or 9-627 of the UCC. Each Grantor shall remain liable for any deficiency if
the proceeds of any sale or other disposition of the Collateral are insufficient to pay its
Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or
any Secured Party to collect such deficiency.

10

 

ARTICLE VI

THE ADMINISTRATIVE AGENT

     SECTION 6.1. Administrative Agent’s Appointment as Attorney-In-Fact.

     (a) Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any
officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact
with full irrevocable power and authority in the place and stead of such Grantor and in the name of
such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to
take any and all appropriate action and to execute any and all documents and instruments which may
be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the
generality of the foregoing, each Grantor hereby gives the Administrative Agent the power and
right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of
the following upon the occurrence and continuation of an Event of Default:

     (i) pay or discharge taxes and Liens levied or placed on or threatened against the
Collateral;

     (ii) execute, in connection with any sale provided for in this Agreement, any
endorsements, assignments or other instruments of conveyance or transfer with respect to the
Collateral; and

     (iii) (A) commence and prosecute any suits, actions or proceedings at law or in equity
in any court of competent jurisdiction to collect the Collateral or any portion thereof and
to enforce any other right in respect of any Collateral; (B) defend any suit, action or
proceeding brought against such Grantor with respect to any Collateral; (C) settle,
compromise or adjust any such suit, action or proceeding and, in connection therewith, give
such discharges or releases as the Administrative Agent may deem appropriate; and (D)
generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal
with any of the Collateral as fully and completely as though the Administrative Agent were
the absolute owner thereof for all purposes, and do, at the Administrative Agent’s option
and such Grantor’s expense, at any time, or from time to time, all acts and things which the
Administrative Agent deems necessary to protect, preserve or realize upon the Collateral and
the Administrative Agent’s and the Secured
Parties’ Security Interests therein and to effect the intent of this Agreement, all as fully
and effectively as such Grantor might do.

     (b) If any Grantor fails to perform or comply with any of its agreements contained herein, the
Administrative Agent, at its option, but without any obligation so to do, may perform or comply, or
otherwise cause performance or compliance, with such agreement in accordance with the provisions of
Section 6.1(a).

     (c) The expenses of the Administrative Agent incurred in connection with actions taken
pursuant to the terms of this Agreement shall be payable by such Grantor to the Administrative
Agent on demand.

11

 

     (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof in accordance with Section 6.1(a). All powers, authorizations and agencies
contained in this Agreement are coupled with an interest and are irrevocable until this Agreement
is terminated and the Security Interests created hereby are released.

     SECTION 6.2. Duty of Administrative Agent. The Administrative Agent’s sole duty with
respect to the custody, safekeeping and physical preservation of the Collateral in its possession,
under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the
Administrative Agent deals with similar property for its own account. Neither the Administrative
Agent, any Secured Party nor any of their respective officers, directors, employees or agents shall
be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in
doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the
request of any Grantor or any other Person or to take any other action whatsoever with regard to
the Collateral or any part thereof. The powers conferred on the Administrative Agent and the
Secured Parties hereunder are solely to protect the Administrative Agent’s and the Secured Parties’
interests in the Collateral and shall not impose any duty upon the Administrative Agent or any
Secured Party to exercise any such powers. The Administrative Agent and the Secured Parties shall
be accountable only for amounts that they actually receive as a result of the exercise of such
powers, and neither they nor any of their officers, directors, employees or agents shall be
responsible to any Grantor for any act or failure to act hereunder, except for their own gross
negligence or willful misconduct as determined by a court of competent jurisdiction by a final and
nonapppealable judgment.

     SECTION 6.3. Authority of Administrative Agent. Each Grantor acknowledges that the
rights and responsibilities of the Administrative Agent under this Agreement with respect to any
action taken by the Administrative Agent or the exercise or non-exercise by the Administrative
Agent of any option, voting right, request, judgment or other right or remedy provided for herein
or resulting or arising out of this Agreement shall, as between the Administrative Agent and the
Secured Parties, be governed by the Credit Agreement and by such other agreements with respect
thereto as may exist from time to time among them, but, as between the Administrative Agent and the
Grantors, the Administrative Agent shall be conclusively presumed to be acting as agent for the
Secured
Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be
under any obligation, or entitlement to make any inquiry respecting such authority.

ARTICLE VII

MISCELLANEOUS

     SECTION 7.1. Amendments in Writing. None of the terms or provisions of this Agreement
may be waived, amended, supplemented or otherwise modified except in accordance with Section 14.11
of the Credit Agreement.

12

 

     SECTION 7.2. Notices. All notices, requests and demands to or upon the Administrative
Agent or any Grantor hereunder shall be effected in the manner provided for in Section 14.1 of the
Credit Agreement.

     SECTION 7.3. No Waiver by Course of Conduct, Cumulative Remedies. Neither the
Administrative Agent nor any Secured Party shall by any act (except by a written instrument
pursuant to Section 7.1), delay, indulgence, omission or otherwise be deemed to have waived any
right or remedy hereunder or to have acquiesced in any Default or Event of Default. No failure to
exercise, nor any delay in exercising on the part of the Administrative Agent or any Secured Party,
of any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial
exercise of any right, power or privilege hereunder shall preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. A waiver by the Administrative
Agent or any Secured Party of any right or remedy hereunder on any one occasion shall not be
construed as a bar to any right or remedy which the Administrative Agent or such Secured Party
would otherwise have on any future occasion. The rights and remedies herein provided are
cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or
remedies provided by law.

SECTION 7.4. Enforcement Expenses, Indemnification

     (a) Each Grantor agrees to pay or reimburse each Secured Party and the Administrative Agent
for all its costs and expenses incurred in connection with enforcing or protecting any rights under
this Agreement and the other Loan Documents to which such Grantor is a party, (including, without
limitation, in connection with any workout, restructuring, bankruptcy or other similar proceeding)
including, without limitation, the fees and disbursements of counsel to each Secured Party and of
counsel to the Administrative Agent.

     (b) Each Grantor agrees to pay, and to save the Administrative Agent and the Secured Parties
harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any
and all stamp, excise, sales or other taxes (in each case, to the same extent that the Borrower
would be required to do so under Section 5.11 of the Credit Agreement) which may be payable or
determined to be payable with respect to any of the Collateral or in connection with any of the
transactions contemplated by this Agreement.

     (c) Each Grantor agrees to pay, and to save the Administrative Agent and the Secured Parties
harmless from any and all liabilities, obligations, losses, damages, penalties, costs and expenses
in connection with actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever with respect to the execution, delivery, enforcement, performance and
administration of this Agreement to the extent any Grantor would be required to do so pursuant to
Section 14.2 of the Credit Agreement.

     (d) The agreements in this Section 7.4 shall survive termination of the Commitments and
repayment of the Obligations and all other amounts payable under the Credit Agreement and the other
Loan Documents. All amounts due under this Section shall be payable promptly after demand
therefor.

13

 

     SECTION 7.5. Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUR OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     SECTION 7.6. Successors and Assigns. This Agreement shall be binding upon the
successors and assigns of each Grantor and shall inure to the benefit of each Grantor (and shall
bind all Persons who become bound as a Grantor to this Collateral Agreement), the Administrative
Agent and the Secured Parties and their successors and assigns; provided that no Grantor
may assign, transfer or delegate any of its rights or obligations under this Agreement without the
prior written consent of the Administrative Agent (given in accordance with Section 7.1).

     SECTION 7.7. Set-Off. Each Grantor hereby irrevocably authorizes the Administrative
Agent and each Secured Party at any time and from time to time pursuant to Section 14.3 of the
Credit Agreement, without notice to such Grantor or any other Grantor, any such notice being
expressly waived by each Grantor, to set-off and appropriate and apply any and all deposits
(general or special, time or demand, provisional or final), in any currency, and any other credits,
indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or
contingent, matured or unmatured, at any time held or owing by the Administrative Agent or such
Secured Party to or for the credit or the account of such Grantor, or any part thereof in such
amounts as the Administrative Agent or such Secured Party may elect, against and on account of the
obligations
and liabilities of such Grantor to the Administrative Agent or such Secured Party hereunder and
claims of every nature and description of the Administrative Agent or such Secured Party against
such Grantor, in any currency, whether arising hereunder, under the Credit Agreement, any other
Loan Document or otherwise, as the Administrative Agent or such Secured Party may elect, whether or
not the Administrative Agent or any Secured Party has made any demand for payment and although such
obligations, liabilities and claims may be contingent or unmatured. The Administrative Agent and
each Secured Party shall notify such Grantor promptly of any such set-off and the application made
by the Administrative Agent or such Secured Party of the proceeds thereof; provided that
the failure to give such notice shall not affect the validity of such set-off and application. The
rights of the Administrative Agent and each Secured Party under this Section 7.7 are in addition to
other rights and remedies (including, without limitation, other rights of set-off) which the
Administrative Agent or such Secured Party may have.

14

 

     SECTION 7.8. Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto in different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a
manually executed counterpart of this Agreement.

     SECTION 7.9. Severability. Any provision of this Agreement or any other Loan Document
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective only to the extent of such prohibition or unenforceability without invalidating the
remainder of such provision or the remaining provisions hereof or thereof or affecting the validity
or enforceability of such provision in any other jurisdiction.

     SECTION 7.10. Section Heading. The Section headings used in this Agreement are for
convenience of reference only and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.

     SECTION 7.11. Integration. This Agreement, any Hedging Agreement between the Borrower
and a Secured Party and the other Loan Documents, and any separate letter agreements with respect
to fees payable to the Administrative Agent and the Arrangers, 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 matters hereof. In the event of any
conflict between the provisions of this Agreement and the Credit Agreement, the provisions of the
Credit Agreement shall control; provided that the inclusion of supplemental rights or
remedies in favor of the Administrative Agent or the Secured Parties in this Agreement shall not be
deemed a conflict with the Credit Agreement.

     SECTION 7.12. Governing Law. THIS AGREEMENT, UNLESS EXPRESSLY SET FORTH HEREIN, SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING
SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT
REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.

     SECTION 7.13. Consent to Jurisdiction (a) Each Grantor irrevocably and unconditionally
submits for itself and its property, to the nonexclusive jurisdiction of the state and federal
courts located in Mecklenburg County, North Carolina and New York, New York, and any appellate
court from any thereof, in any action or proceeding arising out of or relating to this Agreement or
any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties
hereto irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such North Carolina or New York state court or, to the
fullest extent permitted by Applicable Law, in such federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Agreement or in any other Loan Document shall affect any right that the
Administrative Agent or any Secured Party may otherwise have to bring any

15

 

action or proceeding
relating to this Agreement or any other Loan Document against the Company or any other Grantor or
its properties in the courts of any jurisdiction.

     (b) Each Grantor irrevocably and unconditionally waives, to the fullest extent permitted by
Applicable Law, any objection that it may now or hereafter have to the laying of venue of any
action or proceeding arising out of or relating to this Agreement or any other Loan Document in any
court referred to in paragraph (a) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by Applicable Law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

     (c) Each Grantor irrevocably consents to service of process in the manner provided for notices
in Section 14.1 of the Credit Agreement. Nothing in this Agreement will affect the right of any
party hereto to serve process in any other manner permitted by Applicable Law.

     SECTION 7.14. Acknowledgements.

     (a) Each Grantor hereby acknowledges that: (i) it has discussed this Agreement with its
counsel, (ii) neither the Administrative Agent nor any Secured Party has any fiduciary relationship
with or duty to any Grantor arising out of or in connection with this Agreement or any of the other
Loan Documents, and the relationship between the Grantors, on the one hand, and the Administrative
Agent and Secured Parties, on the other hand, in connection herewith or therewith is solely that of
debtor and creditor, and (iii) no joint venture is created hereby or by the other Loan Documents or
otherwise exists by virtue of the transactions contemplated hereby or thereby among the Secured
Parties or among the Grantors and the Secured Parties.

     (b) Each Subsidiary Issuer party to this Agreement acknowledges receipt of a copy of this
Agreement and agrees to be bound thereby and to comply with the terms thereof insofar as such terms
are applicable to it. Each Subsidiary Issuer agrees to provide such notices to the Administrative
Agent as may be necessary to give full effect to the provisions of this Agreement.

     SECTION 7.15. Additional Grantors. Each Subsidiary of the Company that is required to
become a party to this Agreement pursuant to Section 9.9 of the Credit Agreement shall become a
Grantor and/or a Subsidiary Issuer, as applicable, for all purposes of this Agreement upon
execution and delivery by such Subsidiary of a joinder agreement in form and substance satisfactory
to the Administrative Agent.

     SECTION 7.16. Releases.

     (a) At such time as the Obligations (other than any contingent indemnification obligations)
shall have been paid in full and the Commitments have been terminated, the Collateral shall be
released from the Liens created hereby, and this Agreement and all obligations (other than those
expressly stated to survive such termination) of the Administrative Agent and each Grantor
hereunder shall terminate, all without delivery of any instrument or performance of any act by any
party, and all rights to the Collateral shall revert to the Grantors. At the request and sole
expense of any Grantor following any such termination, the Administrative

16

 

Agent shall deliver to
such Grantor any Collateral held by the Administrative Agent hereunder, and execute and deliver to
such Grantor such documents as such Grantor shall reasonably request to evidence such termination.

     (b) If any of the Collateral shall be sold, transferred or otherwise disposed of by any
Grantor in a transaction permitted by the Credit Agreement, then the Administrative Agent, at the
request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or
other documents reasonably necessary or desirable for the release of the Liens created hereby on
such Collateral.

     (c) If any Grantor shall cease to be a Restricted Subsidiary as a result of a transaction
permitted under the Credit Agreement, then, at the request of the Company and at the expense of the
Grantors, such Grantor shall be released from its obligations hereunder.

[Signature Pages to Follow]

17

 

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

	 	 	 	 	 	 	 
	 	 	JACK IN THE BOX INC., as Grantor
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Harold L. Sachs
	 	 	 	 	 
	 	 	Name:	 	Harold L. Sachs
	 	 	Title:	 	Vice President and Treasurer
	 
	 	 	 	 	 	 
	 	 	JBX GENERAL PARTNER
LLC, as Grantor and 
Subsidiary Issuer
	 
	 	 	 	 	 	 
	 	 	By:	 	Jack in the Box Inc.,

as sole member
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Harold L. Sachs
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Harold L. Sachs
	 

	 	 	 	Title:
	 	Vice President and Treasurer
	 
	 	 	 	 	 	 
	 	 	JBX LIMITED PARTNER
LLC, as Grantor and 
Subsidiary Issuer
	 
	 	 	 	 	 	 
	 	 	By:	 	Jack in the Box Inc.,

as sole member
	 
	 	 	 
	 

	 	 	 	By:
	 	/s/ Harold L. Sachs
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Harold L. Sachs
	 

	 	 	 	Title:
	 	Vice President and Treasurer

 

 

	 	 	 	 	 	 	 	 	 
	 	 	JACK IN THE BOX EASTERN
DIVISION L.P., as 
Grantor and Subsidiary Issuer
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	JBX General Partner
LLC, 
as General Partner
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Jack in the Box Inc.,

as sole member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Harold L. Sachs
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Harold L. Sachs
	 

	 	 	 	 	 	Title:
	 	Vice President and Treasurer
	 
	 	 	 	 	 	 	 	 
	 	 	QDOBA RESTAURANT
CORPORATION, as Grantor 
and Subsidiary Issuer
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Gary Beisler
	 	 	 	 	 
	 	 	Name:	 	Gary Beisler
	 	 	Title:	 	President
	 
	 	 	 	 	 	 	 	 
	 	 	STORED VALUE CARD,
INC., as Grantor and Subsidiary 
Issuer
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Harold L. Sachs
	 	 	 	 	 
	 	 	Name:	 	Harold L. Sachs
	 	 	Title:	 	Vice President and Treasurer

 

 

	 	 	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL
ASSOCIATION 
as Administrative Agent
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Kira L. Deter
	 	 	 	 	 
	 	 	Name:	 	Kira L. Deter
	 	 	Title:	 	Vice President

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