Document:

exv10w1

 

EXHIBIT
10.1

AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT

Dated as of May 15, 2007

          GATX CORPORATION, a New York corporation (the “Borrower”), the banks, financial
institutions and other institutional lenders (the “Initial Lenders”) and initial issuing
banks (the “Initial Issuing Banks”) listed on the signature pages hereof, CITIGROUP GLOBAL
MARKETS INC., as sole lead arranger and book manager, JPMORGAN CHASE BANK, N.A. and BANK OF
AMERICA, N.A., as co-syndication agents, LASALLE BANK, NATIONAL ASSOCIATION and BAYERISCHE
LANDESBANK, acting through its New York branch, as co-documentation agents, and CITIBANK, N.A.
(“Citibank”), as administrative agent (the “Agent”) for the Lenders (as hereinafter
defined), agree as follows:

          PRELIMINARY STATEMENT.

          The Borrower, GATX Financial Corporation, the lenders parties thereto and Citicorp USA, Inc.,
as agent, were parties to that certain Five Year Credit Agreement dated as of May 18, 2004, which
was amended and restated as of June 27, 2005 and further amended and restated as of December 11,
2006 (the “Existing Credit Agreement”). Subject to the satisfaction of the conditions set
forth in Section 3.01, the Borrower, the parties hereto and Citibank, as Agent, desire to amend and
restate the Existing Credit Agreement as herein set forth.

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

          SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined):

     “Advance” means a Revolving Credit Advance or a Swing Line Advance.

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

     “Agent’s Account” means the account of the Agent maintained by the Agent at
Citibank at its office at 388 Greenwich Street, New York, New York 10013, Account No.
36852248, Attention: Bank Loan Syndications.

     “Applicable Lending Office” means, with respect to each Lender, such Lender’s
Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar
Lending Office in the case of a Eurodollar Rate Advance.

     “Applicable Margin” means as of any date, for Base Rate Advances under any
Facility, a rate per annum equal to 0.00% and, for Eurodollar Rate Advances, a percentage
per annum determined by reference to the Public Debt Rating in effect on such date as set
forth below:

	 	 	 	 	 
	Public Debt Rating	 	Applicable Margin for
	    S&P/Moody’s	 	Eurodollar Rate Advances
	Level 1

A / A2 or above
	 	 	0.150	%
	Level 2

A- / A3
	 	 	0.190	%

 

 

	 	 	 	 	 
	Public Debt Rating	 	Applicable Margin for
	    S&P/Moody’s	 	Eurodollar Rate Advances
	Level 3

BBB+ / Baa1
	 	 	0.270	%
	Level 4

BBB / Baa2
	 	 	0.350	%
	Level 5

BBB- / Baa3
	 	 	0.450	%
	Level 6

Lower than Level 5
	 	 	0.550	%

     “Applicable Percentage” means, as of any date, a percentage per annum
determined by reference to the Public Debt Rating in effect on such date as set forth below:

	 	 	 	 	 
	Public Debt Rating	 	Applicable
	   S&P/Moody’s	 	Percentage
	Level 1

A / A2 or above
	 	 	0.050	%
	Level 2

A- / A3
	 	 	0.060	%
	Level 3

BBB+ / Baa1
	 	 	0.080	%
	Level 4

BBB / Baa2
	 	 	0.100	%
	Level 5

BBB- / Baa3
	 	 	0.125	%
	Level 6

Lower than Level 5
	 	 	0.150	%

     “Applicable Utilization Fee” means, as of any date that the sum of the
aggregate Advances plus the Available Amount of all Letters of Credit exceeds 50% of the
aggregate Revolving Credit Commitments, a percentage per annum equal to 0.050%.

     “Assignment and Acceptance” means an assignment and acceptance entered into by
a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of
Exhibit C hereto.

     “Assuming Lender” has the meaning specified in Section 2.18(b).

     “Assumption Agreement” has the meaning specified in Section 2.18(c)(ii).

     “Available Amount” of any Letter of Credit means, at any time, the maximum
amount available to be drawn under such Letter of Credit at such time (assuming compliance
at such time with all conditions to drawing).

     “Base Rate” means a fluctuating interest rate per annum in effect from time to
time, which rate per annum shall at all times be equal to the higher of:

     (a) the rate of interest announced publicly by Citibank in New York, New York,
from time to time, as Citibank’s base rate; and

     (b) 1/2 of one percent per annum above the Federal Funds
Rate.

     “Base Rate Advance” means an Advance that bears interest as provided in Section
2.07(a)(i).

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     “Borrower Information” has the meaning specified in Section 8.08.

     “Borrowing” means a Revolving Credit Borrowing or a Swing Line Borrowing.

     “Business Day” means a day of the year other than Saturday or Sunday or a day
on which banks are not required or authorized by law to close in New York City and, if the
applicable Business Day relates to any Eurodollar Rate Advances, on which dealings are
carried on in the London interbank market.

     “Capital Lease Obligations” of any Person means the obligations of such Person
to pay rent or other amounts under any lease of (or other arrangement conveying the right to
use) real or personal property, or a combination thereof, which obligations are required to
be classified and accounted for as capital leases on a balance sheet of such Person under
GAAP, and the amount of such obligations shall be the capitalized amount thereof determined
in accordance with GAAP.

     “Change in Control” means (a) the acquisition of ownership, directly or
indirectly, beneficially or of record, by any Person or group (within the meaning of the
Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission
thereunder as in effect on the date hereof), of shares representing more than 50% of the
aggregate ordinary voting power represented by the issued and outstanding capital stock of
the Borrower; or (b) for the period of 12 consecutive months, a majority of the Board of
Directors of the Borrower shall no longer be composed of individuals (i) who were members of
said Board on the first day of such period, (ii) whose election or nomination to said Board
was approved by individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of said Board or (iii) whose election or
nomination to said Board was approved by individuals referred to in clauses (i) and (ii)
above constituting at the time of such election or nomination at least a majority of said
Board.

     “Citibank” means Citibank, N.A.

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

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

     “Commitment” means a Revolving Credit Commitment, a Letter of Credit Commitment
or a Swing Line Commitment.

     “Commitment Date” has the meaning specified in Section 2.18(b).

     “Commitment Increase” has the meaning specified in Section 2.18(a).

     “Consenting Lender” has the meaning specified in Section 2.19(b).

     “Consolidated” refers to the consolidation of accounts in accordance with GAAP.

     “Convert”, “Conversion” and “Converted” each refers to a
conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08
or 2.09.

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

     “Disclosed Litigation” means litigation disclosed in any filing made by the
Borrower or any of its Subsidiaries prior to the date hereof pursuant to the Securities and
Exchange Act of 1934, as amended.

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     “Domestic Lending Office” means, with respect to any Lender, the office of such
Lender specified as its “Domestic Lending Office” opposite its name on Schedule I hereto or
in the Assumption Agreement or the Assignment and Acceptance pursuant to which it became a
Lender, or such other office of such Lender as such Lender may from time to time specify to
the Borrower and the Agent.

     “Effective Date” has the meaning specified in Section 3.01, which is May 15,
2007.

     “Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender that is
in the business of making and/or buying loans of the type described therein; and (iii) any
other Person approved by the Agent, each Issuing Bank and, unless an Event of Default has
occurred and is continuing at the time any assignment is effected in accordance with Section
8.07, the Borrower, such approvals not to be unreasonably withheld or delayed;
provided, however, that neither the Borrower nor an Affiliate of the
Borrower shall qualify as an Eligible Assignee.

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

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

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

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

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

     “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation
D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

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     “Eurodollar Lending Office” means, with respect to any Lender, the office of
such Lender specified as its “Eurodollar Lending Office” opposite its name on Schedule I
hereto or in the Assumption Agreement or the Assignment and Acceptance pursuant to which it
became a Lender (or, if no such office is specified, its Domestic Lending Office), or such
other office of such Lender as such Lender may from time to time specify to the Borrower and
the Agent.

     “Eurodollar Rate” means, for any Interest Period for each Eurodollar Rate
Advance comprising part of the same Borrowing, an interest rate per annum equal to the rate
per annum obtained by dividing (a) the rate per annum (rounded upward to the nearest whole
multiple of 1/16 of 1% per annum) appearing on Reuters Screen LIBOR01 Page (or any successor
page) as the London interbank offered rate for deposits in U.S. dollars at approximately
11:00 A.M. (London time) two Business Days prior to the first day of such Interest Period
for a term comparable to such Interest Period or, if for any reason such rate is not
available, the average (rounded upward to the nearest whole multiple of 1/16 of 1% per
annum, if such average is not such a multiple) of the rate per annum at which deposits in
U.S. dollars are offered by the principal office of each of the Reference Banks in London,
England to prime banks in the London interbank market at 11:00 A.M. (London time) two
Business Days before the first day of such Interest Period in an amount substantially equal
to such Reference Bank’s Eurodollar Rate Advance comprising part of such Borrowing to be
outstanding during such Interest Period and for a period equal to such Interest Period by
(b) a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage for such
Interest Period. If the Reuters Screen LIBOR01 Page (or any successor page) is unavailable,
the Eurodollar Rate for any Interest Period for each Eurodollar Rate Advance comprising part
of the same Borrowing shall be determined by the Agent on the basis of applicable rates
furnished to and received by the Agent from the Reference Banks two Business Days before the
first day of such Interest Period, subject, however, to the provisions of
Section 2.08.

     “Eurodollar Rate Advance” means an Advance that bears interest as provided in
Section 2.07(a)(ii).

     “Eurodollar Rate Reserve Percentage” for any Interest Period for all Eurodollar
Rate Advances comprising part of the same Borrowing means the reserve percentage applicable
two Business Days before the first day of such Interest Period under regulations issued from
time to time by the Board of Governors of the Federal Reserve System (or any successor) for
determining the maximum reserve requirement (including, without limitation, any emergency,
supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve
System in New York City with respect to liabilities or assets consisting of or including
Eurocurrency Liabilities (or with respect to any other category of liabilities that includes
deposits by reference to which the interest rate on Eurodollar Rate Advances is determined)
having a term equal to such Interest Period.

     “Events of Default” has the meaning specified in Section 6.01.

     “Excluded Taxes” means, with respect to the Agent, any Lender or any other
recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the
United States of America, or by the jurisdiction under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any Lender, in
which its applicable lending office is located, (b) any branch profits taxes imposed by the
United States of America or any similar tax imposed by any other jurisdiction in which the
Lender or such other recipient is located and (c) in the case of a Foreign Lender (other
than an assignee pursuant to a request by the Borrower under Section 8.07(a)), any
withholding tax that is imposed on amounts payable to such Foreign Lender at the time such
Foreign Lender becomes a party to this Agreement or is attributable to such Foreign Lender’s
failure or inability to comply with Section 2.14(e), except to the extent that such Foreign
Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section 2.14(a).

     “Extension Date” has the meaning specified in Section 2.19(b).

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     “Facility” means the Revolving Credit Facility, the Letter of Credit Facility
or the Swing Line Facility.

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

     “Fed Funds Swing Line Advance” means a Swing Line Advance that bears interest
as provided in Section 2.07(a)(iii)(A).

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

     “Foreign Lender” means any Lender that is organized under the laws of a
jurisdiction other than the United States of America, any State thereof or the District of
Columbia.

     “GAAP” has the meaning specified in Section 1.03.

     “GARC” means a special purpose subsidiary, owned, directly or indirectly, by
the Borrower, and organized for the purposes of (i) entering into one or more financings of
equipment and related leases, (ii) subleasing of equipment pursuant to subleases and (iii)
engaging in such other activities as are necessary, convenient or incidental thereto. Each
GARC shall be formed in a manner so that in the event of a bankruptcy of the Borrower or any
of its non-GARC subsidiaries, the assets and liabilities of such GARC will not be
consolidated with the assets and liabilities of the Borrower or any of such subsidiaries.

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

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

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

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     “Hedging Agreement” means any interest rate protection agreement, foreign
currency exchange agreement, commodity price protection agreement or other interest or
currency exchange rate or commodity price hedging arrangement.

     “Increase Date” has the meaning specified in Section 2.18(a).

     “Increasing Lender” has the meaning specified in Section 2.18(b).

     “Indebtedness” of any Person means, without duplication, (a) all obligations of
such Person for borrowed money or with respect to deposits or advances of any kind, (b) all
obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c)
all obligations of such Person upon which interest charges are customarily paid, (d) all
obligations of such Person under conditional sale or other title retention agreements
relating to property acquired by such Person, (e) all obligations of such Person in respect
of the deferred purchase price of property or services (excluding current accounts payable
incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or
for which the holder of such Indebtedness has an existing right, contingent or otherwise, to
be secured by) any Lien on property owned or acquired by such Person, whether or not the
Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of
Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
obligations, contingent or otherwise, of such Person as an account party in respect of
letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise,
of such Person in respect of bankers’ acceptances; provided, however, that
“Indebtedness” shall not include (x) Secured Nonrecourse Obligations and (y) nonrecourse
obligations incurred in connection with leveraged lease transactions as determined in
accordance with GAAP.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Information Memorandum” means the confidential information memorandum dated
April, 2007 used by the Agent in connection with the syndication of the Commitments.

     “Interest Period” means, for each Eurodollar Rate Advance comprising part of
the same Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the
date of the Conversion of any Base Rate Advance into such Eurodollar Rate Advance and ending
on the last day of the period selected by the Borrower pursuant to the provisions below and,
thereafter, each subsequent period commencing on the last day of the immediately preceding
Interest Period and ending on the last day of the period selected by the Borrower pursuant
to the provisions below. The duration of each such Interest Period shall be one, two or
three weeks or one, two, three or six months, as the Borrower may, upon notice received by
the Agent not later than 1:00 P.M. (New York City time) on the third Business Day prior to
the first day of such Interest Period, select; provided, however, that:

     (a) the Borrower may not select any Interest Period that ends after the final
Termination Date;

     (b) Interest Periods commencing on the same date for Eurodollar Rate Advances
comprising part of the same Borrowing shall be of the same duration;

     (c) whenever the last day of any Interest Period would otherwise occur on a day
other than a Business Day, the last day of such Interest Period shall be extended to
occur on the next succeeding Business Day, provided, however, that,
if such extension would cause the last day of such Interest Period to occur in the
next following calendar month, the last day of such Interest Period shall occur on
the next preceding Business Day; and

     (d) whenever the first day of any Interest Period occurs on a day of an initial
calendar month for which there is no numerically corresponding day in the calendar
month that succeeds such initial calendar month by the number of months equal to the
number of months in

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such Interest Period, such Interest Period shall end on the last Business Day
of such succeeding calendar month.

     “Issuing Bank” means an Initial Issuing Bank, an Assuming Lender or any
Eligible Assignee to which a portion of the Letter of Credit Commitment hereunder has been
assigned pursuant to Section 8.07 so long as such Eligible Assignee expressly agrees to
perform in accordance with their terms all of the obligations that by the terms of this
Agreement are required to be performed by it as an Issuing Bank and notifies the Agent of
its Applicable Lending Office (which information shall be recorded by the Agent in the
Register), for so long as the Initial Issuing Bank, Assuming Lender or Eligible Assignee, as
the case may be, shall have a Letter of Credit Commitment.

     “L/C Cash Collateral Account” means an interest bearing cash collateral account
to be established and maintained by the Agent, over which the Agent shall have sole dominion
and control, upon terms as may be satisfactory to the Agent.

     “L/C Related Documents” has the meaning specified in Section 2.06(b)(i).

     “Lenders” means the Initial Lenders, each Issuing Bank, each Assuming Lender
that shall become a party hereto pursuant to Section 2.18 or 2.19 and each Person that shall
become a party hereto pursuant to Section 8.07.

     “Letter of Credit Agreement” has the meaning specified in Section 2.03(a).

     “Letter of Credit Commitment” means, with respect to each Initial Issuing Bank,
the amount set forth opposite the Initial Issuing Bank’s name on Schedule I hereto under the
caption “Letter of Credit Commitment” or, if such Initial Issuing Bank has entered into one
or more Assignment and Acceptances, the amount set forth for such Issuing Bank in the
Register maintained by the Agent pursuant to Section 8.07(d) as such Issuing Bank’s “Letter
of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to
Section 2.05.

     “Letter of Credit Facility” means, at any time, an amount equal to the lesser
of (a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time
and (b) $50,000,000, as such amount may be reduced at or prior to such time pursuant to
Section 2.05.

     “Letters of Credit” has the meaning specified in Section 2.01(b).

     “LIBOR Swing Line Advance” means a Swing Line Advance that bears interest as
provided in Section 2.07(a)(iii)(B).

     “LIBO Rate” means, for any Swing Line Borrowing, an interest rate per annum
equal to the rate per annum (rounded upward to the nearest whole multiple of 1/16 of 1% per
annum) appearing on Reuters Screen LIBOR01 Page (or any successor page) as the London
interbank offered rate for deposits in U.S. dollars at approximately 11:00 A.M. (London
time) two Business Days prior to the date of such Swing Line Borrowing for a term of one
week or, if for any reason such rate is not available, the average (rounded upward to the
nearest whole multiple of 1/16 of 1% per annum, if such average is not such a multiple) of
the rate per annum at which deposits in U.S. dollars are offered by the principal office of
each of the Swing Line Banks in London, England to prime banks in the London interbank
market at 11:00 A.M. (London time) two Business Days before the date of such Swing Line
Borrowing in an amount substantially equal to such Swing Line Bank’s Swing Line Advance
comprising part of the applicable Swing Line Borrowing and for a period equal to one week.

     “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset and
(b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any

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financing lease having substantially the same economic effect as any of the foregoing)
relating to such asset, other than an operating lease.

     “Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition, operations or properties of the Borrower and its Subsidiaries taken as
a whole, (b) the ability of the Borrower to perform any of its obligations under this
Agreement (including the timely payment of all amounts due hereunder), (c) the rights of or
benefits available to the Agent and the Lenders under this Agreement or (d) the validity or
enforceability of this Agreement.

     “Material Indebtedness” means Indebtedness (other than the Advances), or
obligations in respect of one or more Hedging Agreements, of any one or more of the Borrower
and its Subsidiaries in a principal amount exceeding $50,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of the Borrower
or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum
aggregate amount (giving effect to any netting agreements) that the Borrower or such
Subsidiary would be required to pay if such Hedging Agreement were terminated at such time.

     “Material Subsidiary” means each Subsidiary of the Borrower that either (a) as
of the end of the most recently completed fiscal year of the Borrower for which audited
financial statements are available, has assets that exceed 5% of the total consolidated
balance sheet assets of the Borrower and all of its Subsidiaries, as of the last day of such
period or (b) for the most recently completed fiscal year of the Borrower for which audited
financial statements are available, has revenues that exceed 10% of the consolidated revenue
of the Borrower and all of its Subsidiaries for such period.

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

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

     “Non-Consenting Lender” has the meaning specified in Section 2.19(b).

     “Note” means a promissory note of the Borrower payable to the order of any
Lender, delivered pursuant to a request made under Section 2.16 in substantially the form of
Exhibit A hereto, evidencing the aggregate indebtedness of the Borrower to such Lender
resulting from the Revolving Credit Advances made by such Lender.

     “Notice of Issuance” has the meaning specified in Section 2.03(a).

     “Notice of Revolving Credit Borrowing” has the meaning specified in Section
2.02(a).

     “Notice of Swing Line Borrowing” has the meaning specified in Section 2.02(b).

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

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

          “Permitted Encumbrances” means:

     (a) Liens imposed by law for taxes or under ERISA in respect of contingent
liabilities thereunder that are not yet due or are being contested in compliance
with Section 5.01(d);

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     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other
like Liens imposed by law, arising in the ordinary course of business and securing
obligations that are not overdue by more than 30 days or are being contested in
compliance with Section 5.01(d);

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

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

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

     (f) banker’s liens and rights of set-off;

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

     “Person” means an individual, partnership, corporation (including a business
trust), joint stock company, trust, unincorporated association, joint venture, limited
liability company or other entity, or a government or any political subdivision or agency
thereof.

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

     “Public Debt Rating” means, as of any date, the rating that has been most
recently announced by either S&P or Moody’s, as the case may be, for any class of non-credit
enhanced long-term senior unsecured debt issued by the Borrower or, if any such rating
agency shall have issued more than one such rating, the lowest such rating issued by such
rating agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have
in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage shall be
determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have
in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage will be
set in accordance with Level 6 under the definition of “Applicable Margin” or
“Applicable Percentage”, as the case may be; (c) if the ratings established by S&P
and Moody’s shall fall within different levels, the Applicable Margin and the Applicable
Percentage shall be based upon the higher rating unless such ratings differ by two or more
levels, in which case the applicable level will be deemed to be one level below the higher
of such levels; (d) if any rating established by S&P or Moody’s shall be changed, such
change shall be effective as of the date on which such change is first announced publicly by
the rating agency making such change; and (e) if S&P or Moody’s shall change the basis on
which ratings are established, each reference to the Public Debt Rating announced by S&P or
Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as
the case may be.

     “Ratable Share” of any amount means, with respect to any Lender at any time,
the product of (a) a fraction the numerator of which is the amount of such Lender’s
Revolving Credit Commitment at such time and the denominator of which is the aggregate
Revolving Credit Commitments at such time and (b) such amount.

     “Reference Banks” means Citibank, JPMorgan Chase Bank, N.A. and Bank of
America, N.A. or their successors.

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     “Register” has the meaning specified in Section 8.07(d).

     “Required Lenders” means at any time Lenders owed at least a majority in
interest of the then aggregate unpaid principal amount of the Revolving Credit Advances
owing to Lenders, or, if no such principal amount is then outstanding, Lenders having at
least a majority in interest of the Revolving Credit Commitments.

     “Revolving Credit Advance” means an advance by a Lender to the Borrower as part
of a Borrowing under Section 2.01(a) and refers to a Base Rate Advance or a Eurodollar Rate
Advance (each of which shall be a “Type” of Advance).

     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Advances of the same Type made by the Lenders.

     “Revolving Credit Commitment” means as to any Lender (a) the amount set forth
opposite such Lender’s name on Schedule I hereto as such Lender’s “Revolving Credit
Commitment”, (b) if such Lender has become a Lender hereunder pursuant to an Assumption
Agreement, the amount set forth in such Assumption Agreement or (c) if such Lender has
entered into any Assignment and Acceptance, the amount set forth for such Lender in the
Register maintained by the Agent pursuant to Section 8.07(d), as such amount may be reduced
pursuant to Section 2.05.

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

     “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

     “Secured Nonrecourse Obligations” means (i) secured obligations of the Borrower
taken on a consolidated basis where recourse of the payee of such obligations is expressly
limited to an assigned lease or loan receivable and the property related thereto, (ii) debt
of Single Transaction Subsidiaries or (iii) liabilities of the Borrower taken on a
consolidated basis to manufacturers of leased equipment where such liabilities are payable
solely out of revenues derived from the leasing or sale of such equipment; excluding,
however, nonrecourse obligations incurred in connection with leveraged lease transactions as
determined in accordance with GAAP.

     ” Single Transaction Subsidiary” means any Subsidiary whose assets
consist solely of financing transactions and the proceeds thereof with one or more obligors
where the obligations of such Subsidiary are not guaranteed by the Borrower or any other
Subsidiary and for which neither the Borrower nor such other Subsidiary is liable.

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

          “Subsidiary” means any subsidiary of the Borrower.

     “Swing Line Advance” means an advance made by any Swing Line Bank pursuant to
Section 2.01(c) or any Lender pursuant to Section 2.02(b).

     “Swing Line Bank” means Citibank or its successors and assigns.

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     “Swing Line Borrowing” means a borrowing consisting of a Swing Line Advance
made by any Swing Line Bank.

     “Swing Line Commitment” means with respect to any Swing Line Bank at any time
the amount set forth opposite such Swing Line Bank’s name on Schedule I hereto, as such
amount may be reduced pursuant to Section 2.05.

     “Swing Line Facility” has the meaning specified in Section 2.01(c).

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

     “Termination Date” means the earlier of (a) May 15, 2012, subject to the
extension thereof pursuant to Section 2.19 and (b) the date of termination in whole of the
Commitments pursuant to Section 2.05 or 6.01; provided, however, that the
Termination Date of any Lender that is a Non-Consenting Lender to any requested extension
pursuant to Section 2.19 shall be the Termination Date in effect immediately prior to the
applicable Extension Date for all purposes of this Agreement.

     “Transactions” means the execution, delivery and performance by the Borrower of
this Agreement, the borrowing of Advances, the issuance of Letters of Credit and the use of
the proceeds thereof.

     “Unused Revolving Credit Commitment” means, with respect to each Lender at any
time, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum
of (i) the aggregate principal amount of all Advances made by such Lender (in its capacity
as a Lender) and outstanding at such time, plus (ii) such Lender’s Ratable Share of
(A) the aggregate Available Amount of all the Letters of Credit outstanding at such time,
(B) the aggregate principal amount of all Advances made by each Issuing Bank pursuant to
Section 2.03(c) that have not been ratably funded by such Lender and outstanding at such
time and (C) the aggregate principal amount of all Swing Line Advances then outstanding.

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

          SECTION 1.02. Computation of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding”.

          SECTION 1.03. Accounting Terms. All accounting terms not specifically defined herein
shall be construed in accordance with generally accepted accounting principles of the United States
consistent with those in effect on the date, and applied in the preparation, of the financial
statements referred to in Section 4.01(d) (“GAAP”).

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

          SECTION 2.01. The Advances and Letters of Credit. (a) Revolving Credit
Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to
make Revolving Credit Advances to the Borrower from time to time on any Business Day during the
period from the Effective Date until the Termination Date applicable to such Lender in an amount
not to exceed at any time such Lender’s Unused Revolving Credit Commitment. Each Borrowing shall
be in an aggregate amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof and
shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders
ratably according to their respective Revolving Credit Commitments. Within the limits of each
Lender’s

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Revolving Credit Commitment, the Borrower may borrow under this Section 2.01(a), prepay
pursuant to Section 2.10 and reborrow under this Section 2.01(a).

          (b) Letters of Credit. Each Issuing Bank agrees, on the terms and conditions
hereinafter set forth, to issue letters of credit (each, a “Letter of Credit”) for the
account of the Borrower from time to time on any Business Day during the period from the Effective
Date until 30 days before the final Termination Date in an aggregate Available Amount (i) for all
Letters of Credit not to exceed at any time the Letter of Credit Facility at such time, (ii) for
all Letters of Credit issued by each Issuing Bank not to exceed at any time such Issuing Bank’s
Letter of Credit Commitment at such time and (iii) for each such Letter of Credit not to exceed an
amount equal to the Unused Revolving Credit Commitments of the Lenders at such time. Each Letter
of Credit shall be for an amount of $40,000 or more. No Letter of Credit shall have an expiration
date (including all rights of the Borrower or the beneficiary to require renewal) later than the
earlier of (x) the date that is one year after the date of issuance thereof or (y) 10 Business Days
prior to the Termination Date, provided that no Letter of Credit may expire after the
Termination Date of any Non-Consenting Lender if, after giving effect to such issuance, the
aggregate Revolving Credit Commitments of the Consenting Lenders (including any replacement
Lenders) for the period following such Termination Date would be less than the Available Amount of
the Letters of Credit expiring after such Termination Date. Within the limits referred to above,
the Borrower may request the issuance of Letters of Credit under this Section 2.01(b), repay any
Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and
request the issuance of additional Letters of Credit under this Section 2.01(b).

          (c) The Swing Line Advances. Each Swing Line Bank severally agrees, on the terms and
conditions hereinafter set forth, to make Swing Line Advances to the Borrower from time to time on
any Business Day during the period from the Effective Date until the Termination Date applicable to
such Swing Line Bank (i) in an aggregate amount not to exceed at any time outstanding $30,000,000
(the “Swing Line Facility”) and (ii) in an amount for each such Advance not to exceed the
aggregate Unused Revolving Credit Commitments of the Lenders at such time. No Swing Line Advance
shall be used for the purpose of funding the payment of principal of any other Swing Line Advance.
Each Swing Line Borrowing shall be in an amount of $1,000,000 or an integral multiple of $1,000,000
in excess thereof. Within the limits referred to above, the Borrower may borrow under this Section
2.01(c), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(c).

          SECTION 2.02. Making the Advances. (a) Except as otherwise provided in Section
2.02(b) or Section 2.03(c), each Borrowing shall be made on notice, given not later than (x) 1:00
P.M. (New York City time) on the third Business Day prior to the date of the proposed Borrowing in
the case of a Borrowing consisting of Eurodollar Rate Advances or (y) 1:00 P.M. (New York City
time) on the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate
Advances, by the Borrower to the Agent, which shall give to each Lender prompt notice thereof by
telecopier. Each such notice of a Borrowing (a “Notice of Revolving Credit Borrowing”)
shall be by telephone, confirmed immediately in writing, or telecopier in substantially the form of
Exhibit B hereto, specifying therein the requested (i) date of such Borrowing, (ii) Type of
Advances comprising such Borrowing, (iii) aggregate amount of such Borrowing, and (iv) in the case
of a Borrowing consisting of Eurodollar Rate Advances, initial Interest Period for each such
Advance. Each Lender shall, before 3:00 P.M. (New York City time) on the date of such Borrowing
make available for the account of its Applicable Lending Office to the Agent at the Agent’s
Account, in same day funds, such Lender’s ratable portion of such Borrowing. After the Agent’s
receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III,
the Agent will make such funds available to the Borrower at the Borrower’s account as specified in
writing by two Financial Officers of the Borrower; provided, however, that the
Agent shall first make a portion of such funds equal to the aggregate principal amount of any Swing
Line Advances made by the Swing Line Banks and by any other Lender and outstanding on the date of
such Revolving Credit Borrowing, plus interest accrued and unpaid thereon to and as of such date,
available to the Swing Line Banks and such other Lenders for repayment of such Swing Line Advances.

          (b) Each Swing Line Borrowing shall be made on notice, given not later than 3:00 P.M. (New
York City time) on the date of the proposed Swing Line Borrowing by the Borrower to each Swing Line
Bank and the Agent, of which the Agent shall give prompt notice to the Lenders. Each such notice
of a Swing Line Borrowing (a “Notice of Swing Line Borrowing”) shall be by telephone,
confirmed at once in writing, or telecopier, specifying therein the requested (i) date of such
Borrowing, (ii) amount of such Borrowing, (iii) maturity of such Borrowing (which maturity shall be
no later than the fifth Business Day after the requested date of such Borrowing) and (iv) whether
such Swing Line Borrowing will bear interest as a Fed Funds Swing Line Advance or a LIBOR

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Swing Line Advance. Each Swing Line Bank shall, before 5:00 P.M. (New York City time) on the
date of such Swing Line Borrowing, make such Swing Line Bank’s ratable portion of such Swing Line
Borrowing available (based on the respective Swing Line Commitments of the Swing Line Banks) to the
Agent at the Agent’s Account, in same day funds. After the Agent’s receipt of such funds and upon
fulfillment of the applicable conditions set forth in Article III, the Agent will make such funds
available to the Borrower at the Borrower’s account as specified in writing by two Financial
Officers of the Borrower. Upon written demand by any Swing Line Bank with a Swing Line Advance,
with a copy of such demand to the Agent, each other Lender will purchase from such Swing Line Bank,
and such Swing Line Bank shall sell and assign to each such other Lender, such other Lender’s
Ratable Share of such outstanding Swing Line Advance, by making available for the account of its
Applicable Lending Office to the Agent for the account of such Swing Line Bank, by deposit to the
Agent’s Account, in same day funds, an amount equal to the portion of the outstanding principal
amount of such Swing Line Advance to be purchased by such Lender. The Borrower hereby agrees to
each such sale and assignment. Each Lender agrees to purchase its Ratable Share of an outstanding
Swing Line Advance on (i) the Business Day on which demand therefor is made by the Swing Line Bank
which made such Advance, provided that notice of such demand is given not later than 11:00 A.M.
(New York City time) on such Business Day or (ii) the first Business Day next succeeding such
demand if notice of such demand is given after such time. Upon any such assignment by Swing Line
Bank to any other Lender of a portion of a Swing Line Advance, such Swing Line Bank represents and
warrants to such other Lender that such Swing Line Bank is the legal and beneficial owner of such
interest being assigned by it, but makes no other representation or warranty and assumes no
responsibility with respect to such Swing Line Advance, this Agreement, the Notes or the Borrower.
If and to the extent that any Lender shall not have so made the amount of such Swing Line Advance
available to the Agent, such Lender agrees to pay to the Agent forthwith on demand such amount
together with interest thereon, for each day from the date such Lender is required to have made
such amount available to the Agent until the date such amount is paid to the Agent, at the Federal
Funds Rate. If such Lender shall pay to the Agent such amount for the account of such Swing Line
Bank on any Business Day, such amount so paid in respect of principal shall constitute a Swing Line
Advance made by such Lender on such Business Day for purposes of this Agreement, and the
outstanding principal amount of the Swing Line Advance made by such Swing Line Bank shall be
reduced by such amount on such Business day.

          (c) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not
select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less
than $1,000,000 or if the obligation of the Lenders to make Eurodollar Rate Advances shall then be
suspended pursuant to Section 2.08 or 2.12 and (ii) the Eurodollar Rate Advances may not be
outstanding as part of more than six separate Borrowings.

          (d) Each Notice of Revolving Credit Borrowing and Notice of Swing Line Borrowing shall be
irrevocable and binding on the Borrower. In the case of any Revolving Credit Borrowing that the
related Notice of Revolving Credit Borrowing specifies is to be comprised of Eurodollar Rate
Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by
such Lender as a result of any failure to fulfill on or before the date specified in such Notice of
Revolving Credit Borrowing for such Revolving Credit Borrowing the applicable conditions set forth
in Article III, including, without limitation, any loss (excluding loss of anticipated profits
(including the Applicable Margin)), cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds as a result of any failure to fulfill on or before the date
specified in such Notice of Revolving Credit Borrowing or Notice of Swing Line Borrowing for such
Borrowing the applicable conditions set forth in Article III.

          (e) Unless the Agent shall have received notice from a Lender or a Swing Line Bank prior to
the time of any Revolving Credit Borrowing or Swing Line Borrowing, as the case may be, that such
Lender or Swing Line Bank will not make available to the Agent such Lender’s or Swing Line Bank’s
ratable portion of such Revolving Credit Borrowing or Swing Line Borrowing, as the case may be, the
Agent may assume that such Lender or Swing Line Bank has made such portion available to the Agent
on the date of such Borrowing in accordance with subsection (a) or (b) of this Section 2.02, as
applicable, and the Agent may, in reliance upon such assumption, make available to the Borrower on
such date a corresponding amount. If and to the extent that such Lender or Swing Line Bank shall
not have so made such ratable portion available to the Agent, such Lender and the Borrower
severally agree to repay to the Agent forthwith on demand such corresponding amount together with
interest thereon, for each day from the date such amount is made available to the Borrower until
the date such amount is repaid to the Agent, at (i) in the case of the Borrower, the interest rate
applicable at the time to the Advances comprising such Borrowing

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and (ii) in the case of such Lender or Swing Line Bank, the Federal Funds Rate. If such
Lender or Swing Line Bank shall repay to the Agent such corresponding amount, such amount so repaid
shall constitute such Lender’s or Swing Line Bank’s Advance as part of such Borrowing for purposes
of this Agreement.

          (f) The failure of any Lender or Swing Line Bank to make the Revolving Credit Advance or Swing
Line Advance to be made by it as part of any Borrowing shall not relieve any other Lender or Swing
Line Bank of its obligation, if any, hereunder to make its Revolving Credit Advance or Swing Line
Advance on the date of such Revolving Credit Borrowing or Swing Line Borrowing as the case may be,
but no Lender or Swing Line Bank shall be responsible for the failure of any other Lender or Swing
Line Bank to make the Revolving Credit Advance or Swing Line Advance to be made by such other
Lender or Swing Line Bank on the date of any Revolving Credit Borrowing or Swing Line Borrowing, as
the case may be.

          SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit.
(a) Request for Issuance. (i) Each Letter of Credit shall be issued upon notice, given
not later than 1:00 P.M. (New York City time) on the fifth Business Day prior to the date of the
proposed issuance of such Letter of Credit (or on such shorter notice as the applicable Issuing
Bank may agree), by the Borrower to any Issuing Bank, and such Issuing Bank shall give the Agent,
prompt notice thereof by telecopier. Each such notice of issuance of a Letter of Credit (a
“Notice of Issuance”) shall be by telephone, confirmed immediately in writing, or
telecopier, specifying therein the requested (A) date of such issuance (which shall be a Business
Day), (B) Available Amount of such Letter of Credit, (C) expiration date of such Letter of Credit
(which shall not be later one year after the issuance thereof), (D) name and address of the
beneficiary of such Letter of Credit and (E) form of such Letter of Credit, and shall be
accompanied by such customary application and agreement for letter of credit as such Issuing Bank
may specify to the Borrower for use in connection with such requested Letter of Credit (a
“Letter of Credit Agreement”). If the requested form of such Letter of Credit is
acceptable to such Issuing Bank in its sole discretion, such Issuing Bank will, upon fulfillment of
the applicable conditions set forth in Article III, make such Letter of Credit available to the
Borrower requesting such issuance at its office referred to in Section 8.02 or as otherwise agreed
with the Borrower in connection with such issuance. In the event and to the extent that the
provisions of any Letter of Credit Agreement shall conflict with this Agreement, the provisions of
this Agreement shall govern.

          (b) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each
Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Ratable Share of the aggregate amount available to be drawn under such Letter of
Credit. The Borrower hereby agrees to each such participation. In consideration and in
furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to
the Agent, for the account of such Issuing Bank, such Lender’s Ratable Share of each drawing made
under a Letter of Credit funded by such Issuing Bank and not reimbursed by the Borrower on the date
made, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each
Lender acknowledges and agrees that its obligation to acquire participations pursuant to this
paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected
by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving
Credit Commitments, and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever. Each Lender further acknowledges and agrees that its
participation in each Letter of Credit will be automatically adjusted to reflect such Lender’s
Ratable Share of the Available Amount of such Letter of Credit at each time such Lender’s Revolving
Credit Commitment is amended pursuant to the operation of Section 2.18, an assignment in accordance
with Section 8.07 or otherwise pursuant to this Agreement.

          (c) Drawing and Reimbursement. The payment by an Issuing Bank of a draft drawn under
any Letter of Credit shall constitute for all purposes of this Agreement the making by any such
Issuing Bank of a Revolving Credit Advance, which shall be a Base Rate Advance, in the amount of
such draft. Each Issuing Bank shall give prompt notice (and such Issuing Bank will use its
commercially reasonable efforts to deliver such notice within one Business Day) of each drawing
under any Letter of Credit issued by it to the Borrower and the Agent. Upon written demand by such
Issuing Bank, with a copy of such demand to the Agent, each Lender shall pay to the Agent such
Lender’s Ratable Share of such outstanding Revolving Credit Advance, by making available for the
account of its Applicable Lending Office to the Agent for the account of such Issuing Bank, by
deposit to the Agent’s Account, in same day funds, an amount equal to the portion of the
outstanding principal amount of such

15

 

Revolving Credit Advance to be funded by such Lender. Promptly after receipt thereof, the
Agent shall transfer such funds to such Issuing Bank. Each Lender agrees to fund its Ratable Share
of an outstanding Revolving Credit Advance on (i) the Business Day on which demand therefor is made
by such Issuing Bank, provided that notice of such demand is given not later than 11:00
A.M. (New York City time) on such Business Day, or (ii) the first Business Day next succeeding such
demand if notice of such demand is given after such time. If and to the extent that any Lender
shall not have so made the amount of such Revolving Credit Advance available to the Agent, such
Lender agrees to pay to the Agent forthwith on demand such amount together with interest thereon,
for each day from the date of demand by any such Issuing Bank until the date such amount is paid to
the Agent, at the Federal Funds Rate for its account or the account of such Issuing Bank, as
applicable. If such Lender shall pay to the Agent such amount for the account of any such Issuing
Bank on any Business Day, such amount so paid in respect of principal shall constitute a Revolving
Credit Advance made by such Lender on such Business Day for purposes of this Agreement, and the
outstanding principal amount of the Revolving Credit Advance made by such Issuing Bank shall be
reduced by such amount on such Business Day.

          (d) Letter of Credit Reports. Each Issuing Bank shall furnish (i) to the Agent on the
first Business Day of each month a written report summarizing issuance and expiration dates of
Letters of Credit issued by it during the preceding month and drawings during such month under all
Letters of Credit and (ii) to the Agent and each Lender on the first Business Day of each calendar
quarter a written report setting forth the average daily aggregate Available Amount during the
preceding calendar quarter of all Letters of Credit issued by it.

          (e) Failure to Make Revolving Credit Advances. The failure of any Lender to make the
Revolving Credit Advance to be made by it on the date specified in Section 2.03(c) shall not
relieve any other Lender of its obligation hereunder to make its Revolving Credit Advance on such
date, but no Lender shall be responsible for the failure of any other Lender to make the Revolving
Credit Advance to be made by such other Lender on such date.

          SECTION 2.04. Fees. (a) Facility Fee. The Borrower agrees to pay to the
Agent for the account of each Lender a facility fee on the aggregate amount of such Lender’s
Revolving Credit Commitment from the Effective Date in the case of each Initial Lender and from the
effective date specified in the Assumption Agreement or in the Assignment and Acceptance pursuant
to which it became a Lender in the case of each other Lender until the Termination Date applicable
to such Lender at a rate per annum equal to the Applicable Percentage in effect from time to time,
payable in arrears quarterly on the last day of each March, June, September and December,
commencing June 30, 2007, and on the final Termination Date.

          (b) Letter of Credit Fees. (i) The Borrower shall pay to the Agent for the account
of each Lender a commission on such Lender’s Ratable Share of the average daily aggregate Available
Amount of all Letters of Credit outstanding from time to time at a rate per annum equal to the
Applicable Margin for Eurodollar Rate Advances in effect from time to time plus the Applicable
Utilization Fee, if any, payable in arrears quarterly on the last day of each March, June,
September and December, commencing June 30, 2007, and on the final Termination Date, and after the
final Termination Date payable upon demand; provided that the Applicable Margin shall
increase by 2% upon the occurrence and during the continuation of an Event of Default if the
Borrower is required to pay default interest pursuant to Section 2.07(b).

     (ii) The Borrower shall pay to each Issuing Bank for its own account such reasonable
and customary fronting, issuance, presentation, amendment and other processing fees as may
from time to time be agreed in writing between the Borrower and such Issuing Bank.

          (c) Agent’s Fees. The Borrower shall pay to the Agent for its own account such fees
as have been agreed between the Borrower and the Agent.

          SECTION 2.05. Optional Termination or Reduction of the Commitments. The Borrower
shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole
or permanently reduce ratably in part the Unused Revolving Credit Commitments, provided
that each partial reduction (i) shall be in the aggregate amount of $10,000,000 or an integral
multiple of $1,000,000 in excess thereof and (ii) shall be made ratably among the Lenders in
accordance with their Revolving Credit Commitments.

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          SECTION 2.06. Repayment. (a) Revolving Credit Advances. The Borrower shall
repay to the Agent for the ratable account of each Lender on the Termination Date applicable to
such Lender the aggregate principal amount of the Revolving Credit Advances made by such Lender and
then outstanding.

          (b) Letter of Credit Reimbursements. The obligations of the Borrower under this
Agreement, any Letter of Credit Agreement and any other agreement or instrument, in each case,
relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly
in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other
agreement or instrument under all circumstances, including, without limitation, the following
circumstances (it being understood that any such payment by the Borrower is without prejudice to,
and does not constitute a waiver of, any rights the Borrower might have or might acquire as a
result of the payment by any Lender of any draft or the reimbursement by the Borrower thereof):

     (i) any lack of validity or enforceability of this Agreement, any Letter of Credit, any
Letter of Credit Agreement or any other agreement or instrument, in each case, relating
thereto (all of the foregoing being, collectively, the “L/C Related Documents”);

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the obligations of the Borrower in respect of any L/C Related Document or any
other amendment or waiver of or any consent to departure from all or any of the L/C Related
Documents;

     (iii) the existence of any claim, set-off, defense or other right that the Borrower may
have at any time against any beneficiary or any transferee of a Letter of Credit (or any
Persons for which any such beneficiary or any such transferee may be acting), any Issuing
Bank, the Agent, any Lender or any other Person, whether in connection with the transactions
contemplated by the L/C Related Documents or any unrelated transaction;

     (iv) any statement or any other document presented under a Letter of Credit proving to
be forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect;

     (v) payment by any Issuing Bank under a Letter of Credit against presentation of a
draft or certificate that does not strictly comply with the terms of such Letter of Credit;

     (vi) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any guarantee, for all or any of the
obligations of the Borrower in respect of the L/C Related Documents; or

     (vii) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including, without limitation, any other circumstance that might otherwise
constitute a defense available to, or a discharge of, the Borrower or a guarantor.

          (c) Swing Line Advances. The Borrower shall repay to the Agent for the ratable
account of the Swing Line Banks and each other Lender which has made a Swing Line Advance the
outstanding principal amount of each Swing Line Advance made to it by each of them on the earlier
of the maturity date specified in the applicable Notice of Swing Line Borrowing (which maturity
shall be no later than five Business Days after the requested date of such Borrowing) and the final
Termination Date.

          SECTION 2.07. Interest on Advances. (a) Scheduled Interest. The Borrower
shall pay interest on the unpaid principal amount of each Advance owing to each Lender from the
date of such Advance until such principal amount shall be paid in full, at the following rates per
annum:

     (i) Base Rate Advances. During such periods as such Revolving Credit Advance
is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate
in effect from time to time plus (y) the Applicable Margin in effect from time to
time plus (z) the Applicable Utilization Fee, if any, in effect from time to time,
payable in arrears quarterly on the last day of each March, June, September

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and December during such periods and on the date such Base Rate Advance shall be
Converted or paid in full.

     (ii) Eurodollar Rate Advances. During such periods as such Advance is a
Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for
such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance
plus (y) the Applicable Margin in effect from time to time plus (z) the
Applicable Utilization Fee, if any, in effect from time to time, payable in arrears on the
last day of such Interest Period and, if such Interest Period has a duration of more than
three months, on each day that occurs during such Interest Period every three months from
the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be
Converted or paid in full.

     (iii) Swing Line Advances. (A) In the case of a Fed Funds Swing Line Advance,
a rate per annum equal at all times to the sum of (w) the Federal Funds Rate in effect from
time to time plus (x) 0.50 % per annum plus (y) the Applicable Margin for
Eurodollar Rate Advances in effect from time to time plus (z) the Applicable
Utilization Fee, if any, in effect from time to time, and (B) in the case of a LIBOR Swing
Line Advance, a rate per annum equal at all times to the sum of (x) the LIBO Rate for such
Swing Line Advance plus (y) the Applicable Margin for Eurodollar Rate Advances in
effect from time to time plus (z) the Applicable Utilization Fee, if any, in effect
from time to time, in each case payable in arrears the date such Swing Line Advance shall be
paid in full

          (b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall,
require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal
amount of each Advance owing to each Lender that is not paid when due, payable in arrears on the
dates referred to in clause (a) above, at a rate per annum equal at all times to 2% per annum above
the rate per annum required to be paid on such Advance pursuant to clause (a) above and (ii) to the
fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder
that is not paid when due, from the date such amount shall be due until such amount shall be paid
in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate
per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base
Rate Advances pursuant to clause (a)(i) above, provided, however, that following
acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable
hereunder whether or not previously required by the Agent.

          SECTION 2.08. Interest Rate Determination. (a) Each Reference Bank agrees to
furnish to the Agent timely information for the purpose of determining each Eurodollar Rate. If
any one or more of the Reference Banks shall not furnish such timely information to the Agent for
the purpose of determining any such interest rate, the Agent shall determine such interest rate on
the basis of timely information furnished by the remaining Reference Banks. The Agent shall give
prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the
Agent for purposes of Section 2.07(a)(i) or (ii), and the rate, if any, furnished by each Reference
Bank for the purpose of determining the interest rate under Section 2.07(a)(ii).

          (b) If, with respect to any Eurodollar Rate Advances under any Facility, the Lenders owed at
least 51% of the aggregate principal amount thereof notify the Agent that the Eurodollar Rate for
any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders
of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest
Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (i) each
Eurodollar Rate Advance under such Facility will automatically, on the last day of the then
existing Interest Period therefor, Convert into a Base Rate Advance, and (ii) the obligation of the
Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the
Agent shall notify the Borrower that such Lenders have determined that the circumstances causing
such suspension no longer exist.

          (c) If the Borrower shall fail to select the duration of any Interest Period for any
Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest
Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the Lenders and such
Advances will automatically, on the last day of the then existing Interest Period therefor, Convert
into a Eurodollar Rate Borrowing having an Interest Period of one month.

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          (d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances
comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than
$1,000,000, such Advances shall automatically Convert into Base Rate Advances.

          (e) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period
therefor, Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make, or to
Convert Advances into, Eurodollar Rate Advances shall be suspended.

          (f) If Reuters Screen LIBOR01 Page is unavailable and fewer than two Reference Banks furnish
timely information to the Agent for determining the Eurodollar Rate for any Eurodollar Rate
Advances,

     (i) the Agent shall forthwith notify the Borrower and the Lenders that the interest
rate cannot be determined for such Eurodollar Rate Advances,

     (ii) each such Advance will automatically, on the last day of the then existing
Interest Period therefor, Convert into a Base Rate Advance (or if such Advance is then a
Base Rate Advance, will continue as a Base Rate Advance), and

     (iii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert
Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify the
Borrower and the Lenders that the circumstances causing such suspension no longer exist.

          SECTION 2.09. Optional Conversion of Advances. The Borrower may on any Business Day,
upon notice given to the Agent not later than 1:00 P.M. (New York City time) on the third Business
Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and
2.12, Convert all or any portion of Revolving Credit Advances of one Type comprising the same
Borrowing into Revolving Credit Advances of the other Type; provided, however, that
any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less
than the minimum amount specified in Section 2.02(c), no Conversion of any Advances shall result in
more separate Borrowings than permitted under Section 2.02(c) and each Conversion of Advances
comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with
their Revolving Credit Commitments and provided, further that for any Conversion of
Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest
Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders
in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the
restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be
Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the
initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and
binding on the Borrower.

          SECTION 2.10. Prepayments of Advances. The Borrower may, upon notice at least two
Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and
not later than 1:00 P.M. (New York City time) on the date of such prepayment, in the case of Base
Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the
prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount
of the Advances comprising part of the same Borrowing in whole or ratably in part, together with
accrued interest to the date of such prepayment on the principal amount prepaid; provided,
however, that (x) each partial prepayment shall be in an aggregate principal amount of
$1,000,000 or an integral multiple of $1,000,000 in excess thereof, (y) each partial prepayment of
Swing Line Advances shall in an aggregate principal amount of not less than $1,000,000 and (z) in
the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to
reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

          SECTION 2.11. Increased Costs. (a) If, due to either (i) the introduction of or any
change in or in the interpretation of any law or regulation or (ii) the compliance with any
guideline or request from any central bank or other Governmental Authority (whether or not having
the force of law), there shall be any increase in the cost to any Lender of agreeing to make or
making, funding or maintaining Eurodollar Rate Advances or agreeing to issue or of issuing or
maintaining or participating in Letters of Credit (excluding for purposes of this Section 2.11 any
such increased costs resulting from (i) Taxes or Other Taxes (as to which Section 2.14 shall
govern), (ii)

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changes in the basis of taxation of overall net income or overall gross income by the United
States or by the foreign jurisdiction or state under the laws of which such Lender is organized or
has its Applicable Lending Office or any political subdivision thereof and (iii) any such costs
reflected in the Eurodollar Rate Reserve Percentage), then the Borrower shall from time to time,
upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the
account of such Lender additional amounts sufficient to compensate such Lender for such increased
cost. A certificate as to the amount of such increased cost, submitted to the Borrower and the
Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error.

          (b) Except to the extent reflected in the Eurodollar Rate Reserve Percentage, if any Lender
determines that compliance with any law or regulation or any guideline or request from any central
bank or other Governmental Authority (whether or not having the force of law) affects or would
affect the amount of capital required or expected to be maintained by such Lender or any
corporation controlling such Lender and that the amount of such capital is increased by or based
upon the existence of such Lender’s commitment to lend or to issue or participate in Letters of
Credit hereunder and other commitments of this type or the issuance or maintenance of or
participation in the Letters of Credit (or similar contingent obligations), then, upon demand by
such Lender (with a copy of such demand to the Agent), the Borrower shall pay to the Agent for the
account of such Lender, from time to time as specified by such Lender, additional amounts
sufficient to compensate such Lender or such corporation in the light of such circumstances, to the
extent that such Lender reasonably determines such increase in capital to be allocable to the
existence of such Lender’s commitment to lend or to issue or participate in Letters of Credit
hereunder or the issuance or maintenance of or participation in the Letters of Credit. A
certificate as to such amounts submitted to the Borrower and the Agent by such Lender shall be
conclusive and binding for all purposes, absent manifest error.

          (c) Failure or delay on the part of any Lender to demand compensation pursuant to this Section
shall not constitute a waiver of such Lender’s right to demand such compensation; provided
that the Borrower shall not be required to compensate a Lender pursuant to this Section for any
increased costs or reductions incurred more than six months prior to the date that such Lender
notifies the Borrower of the change or circumstance giving rise to such increased costs or
reductions and of such Lender’s intention to claim compensation therefor; provided
further that, if the change or circumstance giving rise to such increased costs or
reductions is retroactive, then the six-month period referred to above shall be extended to include
the period of retroactive effect thereof.

          SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if
any Lender shall notify the Agent that the introduction of or any change in or in the
interpretation of any law or regulation makes it unlawful, or any central bank or other
Governmental Authority asserts that it is unlawful, for any Lender or its Eurodollar Lending Office
to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain
Eurodollar Rate Advances hereunder, (a) each Eurodollar Rate Advance under the Facility under which
such Lender has a Commitment will automatically, upon the last day of the applicable Interest
Period or, if required by applicable law, immediately upon such demand, Convert into a Base Rate
Advance and (b) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert
Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify the Borrower
that such Lender has determined that the circumstances causing such suspension no longer exist.

          SECTION 2.13. Payments and Computations. (a) The Borrower shall make each payment
hereunder, irrespective of any right of counterclaim or set-off, not later than 1:00 P.M. (New
York City time) on the day when due in U.S. dollars to the Agent at the Agent’s Account in same day
funds. The Agent will promptly thereafter cause to be distributed like funds relating to the
payment of principal, interest, fees or commissions ratably (other than amounts payable pursuant to
Section 2.04(b)(ii), 2.11, 2.14 or 8.04) to the Lenders for the account of their respective
Applicable Lending Offices, and like funds relating to the payment of any other amount payable to
any Lender to such Lender for the account of its Applicable Lending Office, in each case to be
applied in accordance with the terms of this Agreement. Upon any Assuming Lender becoming a Lender
hereunder as a result of a Commitment Increase pursuant to Section 2.18 or an extension of the
Termination Date pursuant to Section 2.19, and upon the Agent’s receipt of such Lender’s Assumption
Agreement and recording of the information contained therein in the Register, from and after the
applicable Increase Date or Extension Date, as the case may be, the Agent shall make all payments
hereunder and under any Notes issued in connection therewith in respect of the interest assumed
thereby to the Assuming Lender. Upon its acceptance of an Assignment and Acceptance and recording
of the information contained therein in the Register pursuant to Section 8.07(c), from and after
the effective date

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specified in such Assignment and Acceptance, the Agent shall make all payments hereunder and
under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and
the parties to such Assignment and Acceptance shall make all appropriate adjustments in such
payments for periods prior to such effective date directly between themselves.

          (b) All computations of interest based on clause (i) of the definition of “Base Rate” shall be
made by the Agent on the basis of a year of 365 or 366 days, as the case may be, and all
computations of interest based on the Eurodollar Rate or the Federal Funds Rate and of fees and
Letter of Credit commissions shall be made by the Agent on the basis of a year of 360 days, in each
case for the actual number of days (including the first day but excluding the last day) occurring
in the period for which such interest, fees or commissions are payable. Each determination by the
Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent
manifest error.

          (c) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest, fee or
commission, as the case may be; provided, however, that, if such extension would
cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding Business Day.

          (d) Unless the Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Lenders hereunder that the Borrower will not make such payment in full,
the Agent may assume that the Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at the Federal Funds Rate.

          (e) If the Agent receives funds for application to the obligations hereunder under
circumstances for which neither this Agreement nor the Borrower specify the Advances or the
Facility to which, or the manner in which, such funds are to be applied, the Agent may, but shall
not be obligated to, elect to distribute such funds to each Lender ratably in accordance with such
Lender’s proportionate share of the principal amount of all outstanding Advances and the Available
Amount of all Letters of Credit then outstanding, in repayment or prepayment of such of the
outstanding Advances or other obligations owed to such Lender, and for application to such
principal installments, as the Agent shall direct.

          SECTION 2.14. Taxes. (a) Any and all payments by or on account of any obligation of
the Borrower hereunder shall be made free and clear of and without deduction for any Indemnified
Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any
Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as
necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section) the Agent, Lender or Issuing Bank (as the case may be)
receives an amount equal to the sum it would have received had no such deductions been made, (ii)
the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted
to the relevant Governmental Authority in accordance with applicable law.

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

          (c) The Borrower shall indemnify the Agent, each Lender and each Issuing Bank, within 10 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 Agent, such Lender or the Issuing Bank, 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

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such payment or liability delivered to the Borrower by a Lender or an Issuing Bank, or by the
Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be conclusive absent
manifest error.

          (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower to a Governmental Authority, the Borrower shall deliver to the 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 Agent.

          (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which the Borrower is located, or any treaty to which such
jurisdiction is a party, with respect to payments under this Agreement shall deliver to the
Borrower (with a copy to the Agent), at the time or times prescribed by applicable law or
reasonably requested by the Borrower, 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.
Each Foreign Lender will, on or prior to the date of its execution and delivery of this Agreement
in the case of each Initial Lender and on the date of the Assumption Agreement or the Assignment
and Acceptance pursuant to which it becomes a Lender in the case of each other Lender, and from
time to time thereafter as reasonably requested in writing by the Borrower (but only so long as
such Lender remains lawfully able to do so), shall provide each of the Agent and the Borrower with
two original Internal Revenue Service Forms W-8BEN or W-8ECI, as appropriate, or any successor or
other form prescribed by the Internal Revenue Service, certifying that such Lender is exempt from
or entitled to a reduced rate of United States withholding tax on payments pursuant to this
Agreement or the Notes.

          SECTION 2.15. Sharing of Payments, Etc. If any Lender shall obtain any payment
(whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on
account of the Advances owing to it (other than (x) as payment of an Advance made by an Issuing
Bank pursuant to the first sentence of Section 2.03(c), (y) as a payment of a Swing Line Advance
made by a Swing Line Bank that has not been participated to the other Lenders pursuant to Section
2.02(b) or (z) pursuant to Section 2.11, 2.14 or 8.04) in excess of its ratable share of payments
on account of the Advances obtained by all the Lenders, such Lender shall forthwith purchase from
the other Lenders such participations in the Advances owing to them as shall be necessary to cause
such purchasing Lender to share the excess payment ratably with each of them; provided,
however, that if all or any portion of such excess payment is thereafter recovered from
such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall
repay to the purchasing Lender the purchase price to the extent of such recovery together with an
amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such
Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of
any interest or other amount paid or payable by the purchasing Lender in respect of the total
amount so recovered provided further that, so long as the obligations under this
Agreement and the Notes shall not have been accelerated, any excess payment received by any Lender
shall be shared on a pro rata basis only with other Lenders. The Borrower agrees that any Lender
so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the fullest
extent permitted by law, exercise all its rights of payment (including the right of set-off) with
respect to such participation as fully as if such Lender were the direct creditor of the Borrower
in the amount of such participation.

          SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of the Borrower to such
Lender resulting from each Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time hereunder in respect of
Advances. The Borrower agrees that upon notice by any Lender to the Borrower (with a copy of such
notice to the Agent) to the effect that a Note is required or appropriate in order for such Lender
to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing to, or to
be made by, such Lender, the Borrower shall promptly execute and deliver to such Lender a Note in
substantially the form of Exhibit A hereto, payable to the order of such Lender in a principal
amount equal to the Revolving Credit Commitment of such Lender.

          (b) The Register maintained by the Agent pursuant to Section 8.07(d) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising
such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each
Assumption Agreement and each Assignment and Acceptance delivered to and accepted by it, (iii) the
amount of any principal or interest due and

22

 

payable or to become due and payable from the Borrower to each Lender hereunder and (iv) the
amount of any sum received by the Agent from the Borrower hereunder and each Lender’s share
thereof.

          (c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above,
and by each Lender in its account or accounts pursuant to subsection (a) above, shall be
prima facie evidence of the amount of principal and interest due and payable or to
become due and payable from the Borrower to, in the case of the Register, each Lender and, in the
case of such account or accounts, such Lender, under this Agreement, absent manifest error;
provided, however, that the failure of the Agent or such Lender to make an entry,
or any finding that an entry is incorrect, in the Register or such account or accounts shall not
limit or otherwise affect the obligations of the Borrower under this Agreement.

          SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and
the Borrower agrees that it shall use such proceeds) for general corporate purposes of the Borrower
and its Subsidiaries.

          SECTION 2.18. Increase in the Aggregate Revolving Credit Commitments. (a) The
Borrower may, not more than once in any calendar year prior to the final Termination Date, by
notice to the Agent, request that the aggregate amount of the Revolving Credit Commitments be
increased by an amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (each
a “Commitment Increase”) to be effective as of a date that is at least 90 days prior to the
scheduled final Termination Date then in effect (the “Increase Date”) as specified in the
related notice to the Agent; provided, however that (i) in no event shall the
aggregate amount of the Revolving Credit Commitments at any time exceed $650,000,000 and (ii) on
the date of any request by the Borrower for a Commitment Increase and on the related Increase Date,
the applicable conditions set forth in Article III shall be satisfied.

          (b) The Agent shall promptly notify the Lenders and such other Eligible Assignees as the
Borrower may identify of a request by the Borrower for a Commitment Increase, which notice shall
include (i) the proposed amount of such requested Commitment Increase, (ii) the proposed Increase
Date and (iii) the date by which Lenders and such Eligible Assignees wishing to participate in the
Commitment Increase must commit to an increase in the amount of their respective Commitments (the
“Commitment Date”). Each Lender that is willing to participate in such requested
Commitment Increase (each an “Increasing Lender”) and each Eligible Assignee that is
willing to participate in such requested Commitment Increase (each such Eligible Assignee and each
Eligible Assignee that agrees to an extension of the Termination Date in accordance with Section
2.19(c), an “Assuming Lender”) shall, in its sole discretion, give written notice to the
Agent on or prior to the Commitment Date of the amount by which it is willing to participate in
such Commitment Increase; provided, however, that the Revolving Credit Commitment
of each such Assuming Lender shall be in an amount of $5,000,000 or an integral multiple of
$1,000,000 in excess thereof. If the Lenders and Assuming Lenders notify the Agent that they are
willing to increase the amount of their respective Revolving Credit Commitments by an aggregate
amount that exceeds the amount of the requested Commitment Increase, the requested Commitment
Increase shall be allocated among the Lenders and Assuming Lenders willing to participate therein
in such amounts as are agreed between the Borrower and the Agent.

          (c) Promptly following each Commitment Date, the Agent shall notify the Borrower as to the
amount, if any, by which the Increasing Lenders and Assuming Lenders are willing to participate in
the requested Commitment Increase. On each Increase Date, each Assuming Lender shall become a
Lender party to this Agreement as of such Increase Date and the Revolving Credit Commitment of each
Increasing Lender for such requested Commitment Increase shall be so increased by such amount (or
by the amount allocated to such Lender pursuant to the last sentence of Section 2.18(b)) as of such
Increase Date; provided, however, that the Agent shall have received on or before
such Increase Date the following, each dated such date:

     (i) (A) certified copies of resolutions of the Board of Directors of the Borrower or
the Executive Committee of such Board approving the Commitment Increase and the
corresponding modifications to this Agreement and (B) an opinion of counsel for the Borrower
(which may be in-house counsel), confirming the opinion delivered pursuant to Section
3.01(e)(iv);

23

 

     (ii) an assumption agreement from each Assuming Lender, if any, in form and substance
satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly
executed by such Eligible Assignee, the Agent and the Borrower; and

     (iii) confirmation from each Increasing Lender of the increase in the amount of its
Revolving Credit Commitment in a writing satisfactory to the Borrower and the Agent.

On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding
sentence of this Section 2.18(c), the Agent shall notify the Lenders (including, without
limitation, each Assuming Lender) and the Borrower, on or before 1:00 P.M. (New York City time), by
telecopier, of the occurrence of the Commitment Increase to be effected on such Increase Date and
shall record in the Register the relevant information with respect to each Increasing Lender and
each Assuming Lender on such date. Each Increasing Lender and each Assuming Lender shall, as of
the Increase Date, fund their respective Ratable Shares of each Revolving Credit Borrowing then
outstanding, which funds the Agent shall distribute to the other Lenders to effect a funding of
each such Borrowing by each of the Lenders (including the Increasing Lenders and the Assuming
Lenders) ratably in accordance with their Ratable Shares after giving effect to the applicable
Commitment Increase and, if the applicable Increase Date is not the last day of an Interest Period,
the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section
8.04(c).

          SECTION 2.19. Extension of Termination Date. (a) At least 45 days but not more than
90 days prior to the first and/or second anniversary of the Effective Date, the Borrower, by
written notice to the Agent, may request an extension of the Termination Date in effect at such
time by one year from its then scheduled expiration. The Agent shall promptly notify each Lender
of such request, and each Lender shall in turn, in its sole discretion, not later than 20 days
prior to such anniversary date, notify the Borrower and the Agent in writing as to whether such
Lender will consent to such extension. If any Lender shall fail to notify the Agent and the
Borrower in writing of its consent to any such request for extension of the Termination Date at
least 20 days prior to the applicable anniversary date, such Lender shall be deemed to be a
Non-Consenting Lender with respect to such request. The Agent shall notify the Borrower not later
than 15 days prior to the applicable anniversary date of the decision of the Lenders regarding the
Borrower’s request for an extension of the Termination Date.

          (b) If all the Lenders consent in writing to any such request in accordance with subsection
(a) of this Section 2.19, the Termination Date in effect at such time shall, effective as at the
applicable anniversary date (the “Extension Date”), be extended for one year;
provided that on each Extension Date the applicable conditions set forth in Article III
shall be satisfied. If less than all of the Lenders consent in writing to any such request in
accordance with subsection (a) of this Section 2.19, the Termination Date in effect at such time
shall, effective as at the applicable Extension Date and subject to subsection (d) of this Section
2.19, be extended as to those Lenders that so consented (each a “Consenting Lender”) but
shall not be extended as to any other Lender (each a “Non-Consenting Lender”). To the
extent that the Termination Date is not extended as to any Lender pursuant to this Section 2.19 and
the Commitment(s) of such Lender is not assumed in accordance with subsection (c) of this Section
2.19 on or prior to the applicable Extension Date, the Commitment(s) of such Non-Consenting Lender
shall automatically terminate in whole on such unextended Termination Date without any further
notice or other action by the Borrower, such Lender or any other Person; provided that such
Non-Consenting Lender’s rights under Sections 2.11, 2.14 and 8.04, and its obligations under
Section 7.05, shall survive the Termination Date for such Lender as to matters occurring prior to
such date. It is understood and agreed that no Lender shall have any obligation whatsoever to
agree to any request made by the Borrower for any requested extension of the Termination Date.

          (c) If less than all of the Lenders consent to any such request pursuant to subsection (a) of
this Section 2.19, the Borrower may arrange for one or more Consenting Lenders or other Eligible
Assignees as Assuming Lenders to assume, effective as of the Extension Date, any Non-Consenting
Lender’s Commitment(s) and all of the obligations of such Non-Consenting Lender under this
Agreement thereafter arising, without recourse to or warranty by, or expense to, such
Non-Consenting Lender; provided, however, that the amount of the Revolving Credit
Commitment of any such Assuming Lender as a result of such substitution shall in no event be less
than $5,000,000 unless the amount of the Commitment of such Non-Consenting Lender is less than
$5,000,000, in which case such Assuming Lender shall assume all of such lesser amount; and
provided further that:

24

 

     (i) any such Consenting Lender or Assuming Lender shall have paid to such
Non-Consenting Lender (A) the aggregate principal amount of, and any interest accrued and
unpaid to the effective date of the assignment on, the outstanding Advances, if any, of such
Non-Consenting Lender plus (B) any accrued but unpaid facility fees owing to such
Non-Consenting Lender as of the effective date of such assignment;

     (ii) all additional costs reimbursements, expense reimbursements and indemnities
payable to such Non-Consenting Lender, and all other accrued and unpaid amounts owing to
such Non-Consenting Lender hereunder, as of the effective date of such assignment shall have
been paid to such Non-Consenting Lender; and

     (iii) with respect to any such Assuming Lender, the applicable processing and
recordation fee required under Section 8.07(a) for such assignment shall have been paid;

provided further that such Non-Consenting Lender’s rights under Sections 2.11, 2.14
and 8.04, and its obligations under Section 7.05, shall survive such substitution as to matters
occurring prior to the date of substitution. At least three Business Days prior to any Extension
Date, (A) each such Assuming Lender, if any, shall have delivered to the Borrower and the Agent an
Assumption Agreement, duly executed by such Assuming Lender, such Non-Consenting Lender, the
Borrower and the Agent, (B) any such Consenting Lender shall have delivered confirmation in writing
satisfactory to the Borrower and the Agent as to the increase in the amount of its Commitment and
(C) each Non-Consenting Lender being replaced pursuant to this Section 2.19 shall have delivered to
the Agent any Note or Notes held by such Non-Consenting Lender. Upon the payment or prepayment of
all amounts referred to in clauses (i), (ii) and (iii) of the immediately preceding sentence, each
such Consenting Lender or Assuming Lender, as of the Extension Date, will be substituted for such
Non-Consenting Lender under this Agreement and shall be a Lender for all purposes of this
Agreement, without any further acknowledgment by or the consent of the other Lenders, and the
obligations of each such Non-Consenting Lender hereunder shall, by the provisions hereof, be
released and discharged.

          (d) If (after giving effect to any assignments or assumptions pursuant to subsection (c) of
this Section 2.19) Lenders having Revolving Credit Commitments equal to at least 50% of the
Revolving Credit Commitments in effect immediately prior to the Extension Date consent in writing
to a requested extension (whether by execution or delivery of an Assumption Agreement or otherwise)
not later than one Business Day prior to such Extension Date, the Agent shall so notify the
Borrower, and, subject to the satisfaction of the applicable conditions in Article III, the
Termination Date then in effect shall be extended for the additional one-year period as described
in subsection (a) of this Section 2.19, and all references in this Agreement, and in the Notes, if
any, to the “Termination Date” shall, with respect to each Consenting Lender and each
Assuming Lender for such Extension Date, refer to the Termination Date as so extended. Promptly
following each Extension Date, the Agent shall notify the Lenders (including, without limitation,
each Assuming Lender) of the extension of the scheduled Termination Date in effect immediately
prior thereto and shall thereupon record in the Register the relevant information with respect to
each such Consenting Lender and each such Assuming Lender.

ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

          SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01. Section 2.01 of
this Agreement shall become effective on and as of the first date (the “Effective Date”) on
which the following conditions precedent have been satisfied:

          (a) Nothing shall have come to the attention of the Lenders during the course of their due
diligence investigation to lead them to believe that the Information Memorandum, together with any
update supplied by the Borrower to the Lenders, was or has become misleading, incorrect or
incomplete in any material respect; without limiting the generality of the foregoing, the Lenders
shall have been given such access to the management, records, books of account, contracts and
properties of the Borrower and its Subsidiaries as they shall have requested.

25

 

          (b) The Borrower shall have notified each Lender and the Agent in writing as to the proposed
Effective Date.

          (c) The Borrower shall have paid all reasonable invoiced fees and expenses of the Agent and
the Lenders (including the fees and expenses of counsel to the Agent).

          (d) On the Effective Date, the following statements shall be true and the Agent shall have
received for the account of each Lender a certificate signed by a duly authorized officer of the
Borrower, dated the Effective Date, stating that:

     (i) The representations and warranties contained in Section 4.01 are correct on
and as of the Effective Date,

     (ii) No event has occurred and is continuing that constitutes a Default, and

     (iii) GATX Financial Corporation, a Delaware corporation, has been merged into
the Borrower.

          (e) The Agent shall have received on or before the Effective Date the following, each dated
such day, in form and substance satisfactory to the Agent and (except for the Notes) in sufficient
copies for each Lender:

     (i) The Notes to the order of the Lenders to the extent requested by any Lender
pursuant to Section 2.16.

     (ii) Certified copies of the resolutions of the Board of Directors of the Borrower
approving this Agreement and the Notes, and of all documents evidencing other necessary
corporate action and governmental approvals, if any, with respect to this Agreement and the
Notes.

     (iii) A certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower authorized to sign
this Agreement and the Notes and the other documents to be delivered hereunder.

     (iv) A reasonably acceptable opinion of Deborah A. Golden, general counsel of the
Borrower, substantially in the form of Exhibit D hereto.

     (v) A reasonably acceptable opinion of Shearman & Sterling LLP, counsel for the Agent,
in form and substance satisfactory to the Agent.

          SECTION 3.02. Conditions Precedent to Each Borrowing, Commitment Increase, Extension Date
and Issuance. The obligation of each Lender and each Swing Line Bank to make an Advance (other
than (x) a Swing Line Advance made by a Lender pursuant to Section 2.02(b) or (y) an Advance made
by any Issuing Bank or any Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing,
each Commitment Increase, each extension of the Commitments and the obligation of each Issuing Bank
to issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date
shall have occurred and on the date of such Borrowing, the applicable Increase Date, the applicable
Extension Date or such issuance the following statements shall be true (and each of the giving of
the applicable Notice of Revolving Credit Borrowing, Notice of Swing Line Borrowing, request for
Commitment Increase, request for Commitment extension or Notice of Issuance and the acceptance by
the Borrower of the proceeds of such Borrowing, shall constitute a representation and warranty by
the Borrower that on the date of such Borrowing, such Increase Date, such Extension Date or such
issuance such statements are true):

     (a) the representations and warranties contained in Section 4.01 (except the
representations set forth in subsection (d)(ii) thereof and in subsection (f) thereof) are
correct on and as of such date, before

26

 

and after giving effect to such Borrowing, such Commitment Increase, such Commitment
extension or such issuance and to the application of the proceeds therefrom, as though made
on and as of such date, and

     (b) no event has occurred and is continuing, or would result from such Borrowing, such
Commitment Increase, such Commitment extension or such issuance or from the application of
the proceeds therefrom, that constitutes a Default.

          SECTION 3.03. Determinations Under Section 3.01. For purposes of determining
compliance with the conditions specified in Section 3.01, each Lender shall be deemed to have
consented to, approved or accepted or to be satisfied with each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an
officer of the Agent responsible for the transactions contemplated by this Agreement shall have
received notice from such Lender prior to the date that the Borrower, by notice to the Lenders,
designates as the proposed Effective Date, specifying its objection thereto. The Agent shall
promptly notify the Lenders of the occurrence of the Effective Date.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

          SECTION 4.01. Representations and Warranties. The Borrower represents and warrants
as follows:

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

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

          (c) Governmental Approvals; No Conflicts. The Transactions (i) do not require any
consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except such as have been obtained or made and are in full force and effect, (ii) will
not violate any applicable law or regulation or the charter, by-laws or other organizational
documents of the Borrower or any of its Subsidiaries or any order of any Governmental Authority,
(iii) will not violate or result in a default under any indenture, agreement or other instrument
binding upon the Borrower or any of its Subsidiaries or its assets, or give rise to a right
thereunder to require any payment to be made by the Borrower or any of its Subsidiaries, and (iv)
will not result in the creation or imposition of any Lien on any asset of the Borrower or any of
its Subsidiaries.

          (d) Financial Condition; No Material Adverse Change. (i) The Borrower has heretofore
furnished to the Lenders its consolidated balance sheet and statements of income, stockholders
equity and cash flows (A) as of and for the fiscal year ended December 31, 2006, reported on by
Ernst & Young LLP, independent public accountants, and (B) as of and for the fiscal quarter and the
portion of the fiscal year ended March 31, 2007, certified by its chief financial officer. Such
financial statements present fairly, in all material respects, the financial position and results
of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and
for such periods in accordance with GAAP, consistently applied, subject to year-end audit
adjustments and the absence of footnotes in the case of the statements referred to in clause (B)
above.

27

 

     (ii) Except for disclosures, if any, made in filings by the Borrower prior to the date
hereof pursuant to the Securities and Exchange Act of 1934, as amended, since December 31,
2006, there has been no material adverse change in the business, assets, operations or
condition, financial or otherwise, of the Borrower and its Subsidiaries, taken as a whole.

          (e) Properties. (i) Each of the Borrower and its Subsidiaries has good title to, or
valid leasehold interests in, all its real and personal property material to its business, except
for minor defects in title that do not interfere with its ability to conduct its business as
currently conducted or to utilize such properties for their intended purposes.

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

          (f) Litigation and Environmental Matters. (i) There are no actions, suits or
proceedings by or before any arbitrator or Governmental Authority pending against or, to the
knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries
(A) which are likely, individually or in the aggregate, to result in a Material Adverse Effect
(other than the Disclosed Litigation) or (B) that involve this Agreement or the Transactions.

     (ii) Except for the Disclosed Litigation and except with respect to any other matters
that, individually or in the aggregate, are not likely to result in a Material Adverse
Effect, neither the Borrower nor any of its Subsidiaries (A) has failed to comply with any
Environmental Law or to obtain, maintain or comply with any permit, license or other
approval required under any Environmental Law, (B) has become subject to any Environmental
Liability, (C) has received notice of any claim with respect to any Environmental Liability
or (D) knows of any basis for any Environmental Liability.

     (iii) Since the date of this Agreement, there has been no change in the status of the
Disclosed Litigation that, individually or in the aggregate, has resulted in, or materially
increased the likelihood of, a Material Adverse Effect.

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

          (h) Investment Company Status. Neither the Borrower nor any of its Subsidiaries is an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of
1940.

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

          (j) ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when
taken together with all other such ERISA Events for which liability is reasonably expected to
occur, could reasonably be expected to result in a Material Adverse Effect. The present value of
all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of
Statement of Financial Accounting Standards No. 87) as of the date of the most recent financial
statements reflecting such amounts: (i) did not exceed the fair market value of the assets of such
Plan by an aggregate amount in excess of $25,000,000 or (ii) if such

28

 

shortfall is in excess of such amount, such shortfall could not reasonably be expected to
result in a Material Adverse Effect.

          (k) Disclosure. None of the reports, financial statements, certificates or other
information furnished by or on behalf of the Borrower to the Agent or any Lender in connection with
the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information
the Borrower represents only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time.

ARTICLE V

COVENANTS

          SECTION 5.01. Affirmative Covenants. Until the Commitments and Letters of Credit
have expired or been terminated and the principal of and interest on each Advance and all fees
payable hereunder shall have been paid in full, the Borrower covenants and agrees with the Lenders
that:

          (a) Financial Statements and Other Information. The Borrower will furnish to the
Agent:

     (i) within 105 days after the end of each fiscal year of the Borrower, its audited
consolidated balance sheet and related statements of operations, stockholders’ equity and
cash flows as of the end of and for such year, setting forth in each case in comparative
form the figures for the previous fiscal year, all reported on by Ernst & Young LLP or other
independent public accountants of recognized national standing (without a going “concern” or
like qualification or exception and without any qualification or material exception as to
the scope of such audit) to the effect that such consolidated financial statements present
fairly in all material respects the financial condition and results of operations of the
Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP
consistently applied (the furnishing of the Borrower’s Form 10-K will satisfy the
requirements of this Section 5.01(a)(i));

     (ii) within 55 days after the end of each of the first three fiscal quarters of each
fiscal year of the Borrower, its consolidated balance sheet and related statements of
operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter
and the then elapsed portion of the fiscal year, setting forth in each case in comparative
form the figures for the corresponding period or periods of (or, in the case of the balance
sheet, as of the end of) the previous fiscal year, all certified by one of its Financial
Officers as presenting fairly in all material respects the financial condition and results
of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied, subject to normal year-end audit adjustments and
the absence of footnotes (the furnishing of the Borrower’s Form 10-Q will satisfy the
requirements of this Section 5.01(a)(ii));

     (iii) concurrently with any delivery of financial statements under clause (i) or (ii)
above, a certificate of a Financial Officer of the Borrower (A) certifying as to whether a
Default has occurred since the delivery of the previous such certificate, or, with respect
to the first such certificate, the date hereof and, if such Default has occurred, specifying
the details thereof and any action taken or proposed to be taken with respect thereto, (B)
setting forth reasonably detailed calculations demonstrating compliance with Sections
5.02(a) and 5.03 and (C) stating whether any change in GAAP or in the application thereof
has occurred since the date of the audited financial statements referred to in Section
4.01(d) and, if any such change has occurred, specifying the effect of such change on the
financial statements accompanying such certificate;

     (iv) concurrently with any delivery of financial statements under clause (i) above, a
certificate of the accounting firm that reported on such financial statements stating
whether they obtained knowledge

29

 

during the course of their examination of such financial statements of any Default
(which certificate may be limited to the extent required by accounting rules or guidelines);

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

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

          The Borrower shall be deemed to have delivered the financial statements and other information
referred to in subclauses (i), (ii) and (v) of this Section 5.01(a), when such filings, financials
or other information have been posted on the Internet website of the Securities and Exchange
Commission (http://www.sec.gov) or on the Borrower’s own internet website as previously identified
to the Agent and Lenders. If the Agent or a Lender requests such filings, financial statements or
other information to be delivered to it in hard copies, the Borrower shall furnish to the Agent or
such Lender, as applicable, such statements accordingly, provided that no such request
shall affect that such filings, financial statements or other information have been deemed to have
been delivered in accordance with the terms of the immediately preceding sentence.

          (b) Notices of Material Events. The Borrower will furnish to the Agent prompt written
notice of the following:

          (i) the occurrence of any Default;

     (ii) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Borrower or any Affiliate
thereof that are likely to result in a Material Adverse Effect; and

     (iii) any other development that results in a Material Adverse Effect.

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

          (c) Existence; Conduct of Business. The Borrower will, and will cause each of its
Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full
force and effect its legal existence and the rights, licenses, permits, privileges and franchises
material to the conduct of its business; provided that the foregoing shall not prohibit any
merger, consolidation, liquidation or dissolution permitted under Section 5.02.(b).

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

          (e) Maintenance of Properties; Insurance. The Borrower will, and will cause each of
its Subsidiaries to, (i) keep and maintain all property material to the conduct of its business in
good working order and condition, ordinary wear and tear excepted, and (ii) maintain, with
financially sound and reputable insurance companies, insurance in such amounts and against such
risks as are customarily maintained by companies engaged

30

 

in the same or similar businesses operating in the same or similar locations, in each case,
except to the extent that the failure to maintain any such insurance could not reasonably be
expected to result in a Material Adverse Effect.

          (f) Books and Records; Inspection Rights. The Borrower will, and will cause each of
its Subsidiaries to, keep proper books of record and account in which full, true and correct
entries are made of all dealings and transactions in relation to its business and activities. The
Borrower will, and will cause each of its Subsidiaries to, permit any representatives designated by
the Agent or any Lender, upon reasonable prior notice and (unless an Event of Default has occurred
and is continuing, at the expense of the Agent or such Lender, as the case may be), to visit and
inspect its properties, to examine and make extracts from its books and records, and to discuss its
affairs, finances and condition with its officers and independent accountants, all at such
reasonable times and as often as reasonably requested.

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

          (h) Use of Proceeds. The proceeds of the Advances will be used only for general
corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business. No
part of the proceeds of any Advance will be used, whether directly or indirectly, for any purpose
that entails a violation of any of the regulations of the Federal Reserve Board, including
Regulations U and X.

          SECTION 5.02. Negative Covenants. Until the Commitments and Letters of Credit have
expired or terminated and the principal of and interest on each Advance and all fees payable
hereunder have been paid in full the Borrower covenants and agrees with the Lenders that:

          (a) Negative Pledge. The Borrower will not, nor will it permit any of its
Subsidiaries to, create, incur, assume or suffer to exist any Lien in, of or on any property of the
Borrower or any of its Subsidiaries, whether now owned or hereafter acquired, except:

     (i) Liens created for the benefit of the Lenders;

     (ii) Liens existing on the date of this Agreement;

     (iii) Permitted Encumbrances;

     (iv) Liens on property of a Subsidiary of the Borrower to secure only obligations owing
to the Borrower or another such Subsidiary or Liens on property of any Person which becomes
a Subsidiary of the Borrower after the date of this Agreement, provided that such
Liens are in existence at the time such Person becomes a Subsidiary of the Borrower and were
not created in anticipation thereof;

     (v) Liens upon real and/or tangible personal property acquired after the date hereof
(by purchase, construction or otherwise) by the Borrower or any of its Subsidiaries, each of
which Liens either (A) existed on such property before the time of its acquisition and was
not created in anticipation thereof, or (B) was created solely for the purpose of securing
Indebtedness representing, or incurred to finance, refinance or refund, the cost (including
the cost of construction) of such property; provided that no such Lien shall extend
to or cover any property of the Borrower or such Subsidiary other than the property so
acquired and improvements thereon; provided, further, that the principal
amount of Indebtedness secured by any such Lien shall at no time exceed the fair market
value (as determined in good faith by a senior financial officer of the Borrower) of such
property at the time such Lien is created; and provided finally, that such
Lien attaches to such asset concurrently with or within 18 months of acquisition thereof;

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     (vi) Liens on assets related to railcar operating leases (including, but not limited
to, car service contracts and cash collateral accounts funded with revenues under such
leases) securing obligations of the Borrower or any Subsidiary under such lease;

     (vii) attachment, judgment and other similar Liens arising in connection with court
proceedings, provided that (A) the execution or other enforcement of such Liens in an
aggregate amount exceeding $50,000,000 is effectively stayed and (B) the claims secured
thereby are being actively contested in good faith and by appropriate proceedings;

     (viii) Liens securing Secured Nonrecourse Obligations;

     (ix) in addition to the Liens permitted in the foregoing clauses (i) through (viii) of
this Section 5.02(a), Liens incurred in the ordinary course of business of the Borrower and
any of its Subsidiaries, provided that the aggregate amount of Indebtedness secured by Liens
pursuant to this clause (ix) shall not at any time exceed $250,000;

     (x) any extension, renewal or replacement, or the combination of, the foregoing,
provided, however, that the Liens permitted hereunder shall not be spread to
cover any additional Indebtedness or property (other than a substitution of like property),
and

     (xi) additional Liens upon real and/or personal property of the Borrower or any of its
Subsidiaries created after the date hereof so long as Unsecured Debt (as defined below)
shall not, at any time, exceed Eligible Assets (as defined below).

     For the purposes of Section 5.02(a)(xi):

     “Eligible Assets” means the difference, as at any date of determination, of the
following (each of the following items being the consolidated amounts as reflected in the
Borrower’s balance sheet (and/or notes thereto) delivered in accordance with Section
5.01(a)(i) or (ii) hereof): (A) the sum of (i) cash plus (ii) available for sale
securities plus (iii) direct financing leases plus (iv) loans plus
(v) operating lease assets, facilities and other- net (including progress payments related
thereto) plus (vi) 50% of investment in joint ventures plus (vii) assets
held (or contracted to be acquired) for sale and lease plus (viii) investment in
future residuals minus (B) encumbered assets.

     “Unsecured Debt” means the sum, as at any date of determination, of the
following (each of the following items being the consolidated amounts as reflected in the
Borrower’s balance sheet (and/or notes thereto) delivered in accordance with Section
5.01(a)(i) or (ii) hereof): (i) commercial paper and bankers acceptances plus (ii)
notes payable (including without limitation, any indebtedness payable in respect of
borrowings under existing unsecured credit facilities) plus (iii) Capital Lease
Obligations plus (iv) senior term notes, so long as, in each case, such item is
unsecured.

          (b) Fundamental Changes. (i) The Borrower will not merge into or consolidate with any
other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer,
lease or otherwise dispose of (in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired), or liquidate or
dissolve, except that, if at the time thereof and immediately after giving effect thereto no
Default shall have occurred and be continuing, any Person may merge into the Borrower in a
transaction in which the Borrower is the surviving corporation.

     (ii) The Borrower will not, and will not permit any of its Subsidiaries to, engage to
any material extent in any business other than businesses of the type conducted by the
Borrower and its subsidiaries on the date of this Agreement, and businesses reasonably
related thereto, including, without limitation, the business of leasing, investing in,
operating, financing and selling transportation, industrial and commercial equipment and
commercial and other real estate investment property and companies and activities related
thereto.

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          (c) Transactions with Affiliates. The Borrower will not, and will not permit any of
its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase,
lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except (i) at prices and on terms and conditions not less
favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from
unrelated third parties, (ii) transactions between or among the Borrower and its Subsidiaries not
involving any other Affiliate and (iii) any transaction permitted by Section 5.02(b);
provided that the foregoing provisions of this Section 5.02(c) shall not prohibit any such
Person from declaring or paying any lawful dividend so long as, after giving effect thereto, no
Default shall have occurred and be continuing.

          (d) Fiscal Year. The Borrower will not permit its fiscal year to end on other than
December 31 and for each of is fiscal quarters to end on other than the last day of standard
calendar quarters.

          SECTION 5.03. Financial Covenant. Until the Commitments and Letters of Credit have
expired or terminated and the principal and interest on each Advance and all fees payable hereunder
have been paid in full the Borrower covenants and agrees with the Lenders that the Borrower will
not permit its Fixed Charge Coverage Ratio, as at any fiscal quarter end, to be less than 1.20 to
1.

     For the purposes of this Section 5.03,

     “Cash Flow” means, for any period, the sum, for the Borrower and its
consolidated Subsidiaries, of the following: (i) net income, (ii) income taxes, (iii)
non-cash provisions for, or actual write-offs of, assets (without duplication in respect of
any prior period) and (iv) Fixed Charges.

     “Fixed Charge Coverage Ratio” means, for any day, the ratio of (i) Cash Flow
for the period of four consecutive fiscal quarters of the Borrower ending on or most
recently ended prior to such day to (ii) Fixed Charges for such period.

     “Fixed Charges” means the sum, for any period for the Borrower and its
consolidated Subsidiaries, of the following: (i) Interest Expense plus (ii) estimate of
that portion of minimum rents under operating leases representing the interest factor.

     “Interest Expense” means, for any period, the sum, for the Borrower and its
consolidated Subsidiaries, of the following: (i) all interest in respect of Indebtedness
(including the interest component of any payments in respect of Capital Lease Obligations)
accrued or capitalized during such period (whether or not actually paid during such period)
plus (ii) the net amount payable (or minus the net amount receivable) under Hedging
Agreements relating to interest during such period (whether or not actually paid or received
during such period).

ARTICLE VI

EVENTS OF DEFAULT

          SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

          (a) the Borrower shall fail to pay any principal of or interest on any Advance or any fee or
any other amount payable under this Agreement, when and as the same shall become due and payable,
and such failure shall continue unremedied for a period of two Business Days;

          (b) any representation or warranty made or deemed made by or on behalf of the Borrower or any
Subsidiary (i) in this Agreement or any amendment or modification hereof or (ii) in any report,
certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement or any amendment or modification thereof, shall prove to have been incorrect in any
material respect when made or deemed made;

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          (c) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.01(b), (c) (with respect to the Borrower’s existence) or (h) or in Sections
5.02 or 5.03;

          (d) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a) or (c) of this Section 6.01),
and such failure shall continue unremedied for a period of 30 days after notice thereof from the
Agent (given at the request of any Lender) to the Borrower;

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

          (f) any event or condition occurs that results in any Material Indebtedness becoming due prior
to its scheduled maturity or that enables or permits (after giving effect to any applicable grace
period and/or notice period) the holder or holders of any Material Indebtedness or any trustee or
agent on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that this clause (f) shall not apply to secured Indebtedness that becomes due as a
result of the voluntary sale or transfer of the property or assets securing such Indebtedness;

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

          (h) the Borrower or any Material Subsidiary (other than a Single Transaction Subsidiary) shall
(i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or
other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar
law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely
and appropriate manner, any proceeding or petition described in clause (g) of this Section 6.01,
(iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its
assets, (iv) file an answer admitting the material allegations of a petition filed against it in
any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any
action for the purpose of effecting any of the foregoing;

          (i) the Borrower or any Material Subsidiary (other than a Single Transaction Subsidiary) shall
become unable, admit in writing or fail generally to pay its debts (other than Secured Nonrecourse
Obligations) as they become due;

          (j) one or more judgments for the payment of money (other than in respect of Secured
Nonrecourse Obligations) in an aggregate amount in excess of $50,000,000 shall be rendered against
the Borrower or any Material Subsidiary (other than a Single Transaction Subsidiary) or any
combination thereof and the same shall remain undischarged for a period of 30 consecutive days
during which execution shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of the Borrower or any such Material Subsidiary
to enforce any such judgment;

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

          (l) a Change in Control shall occur;

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then, and in every such event (other than an event with respect to the Borrower described in clause
(g) or (h) of this Section), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Borrower, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments (other than the Commitments to make Advances by an Issuing Bank or a
Lender pursuant to Section 2.03(c)), and thereupon the Commitments shall terminate immediately, and
(ii) declare the Advances then outstanding to be due and payable in whole (or in part, in which
case any principal not so declared to be due and payable may thereafter be declared to be due and
payable), and thereupon the principal of the Advances so declared to be due and payable, together
with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder,
shall become due and payable immediately, without presentment, demand, protest or other notice of
any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to
the Borrower described in clause (g) or (h) of this Article, the Commitments (other than the
Commitments to make Advances by an Issuing Bank or a Lender pursuant to Section 2.03(c)) shall
automatically terminate and the principal of the Advances then outstanding, together with accrued
interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower.

          SECTION 6.02. Actions in Respect of the Letters of Credit upon Default. If any Event
of Default shall have occurred and be continuing, the Agent may with the consent, or shall at the
request, of the Required Lenders, irrespective of whether it is taking any of the actions described
in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the
Borrower will, (a) pay to the Agent on behalf of the Lenders in same day funds at the Agent’s
office designated in such demand, for deposit in the L/C Cash Collateral Account, an amount equal
to the aggregate Available Amount of all Letters of Credit then outstanding or (b) make such other
arrangements in respect of the outstanding Letters of Credit as shall be acceptable to the Lenders
having at least 51% of the Revolving Credit Commitments. If at any time the Agent determines that
any funds held in the L/C Cash Collateral Account are subject to any right or claim of any Person
other than the Agent and the Lenders or that the total amount of such funds is less than the
aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by
the Agent, pay to the Agent, as additional funds to be deposited and held in the L/C Cash
Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b)
the total amount of funds, if any, then held in the L/C Cash Collateral Account that the Agent
determines to be free and clear of any such right and claim. Upon the drawing of any Letter of
Credit, to the extent funds are on deposit in the L/C Cash Collateral Account, such funds shall be
applied to reimburse the Issuing Banks to the extent permitted by applicable law. After (i) no
Event of Default shall be continuing or (ii) all such Letters of Credit shall have expired or been
fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have
been paid in full, the balance, if any, in such LC Cash Collateral Account shall be returned to the
Borrower.

ARTICLE VII

THE AGENT

          SECTION 7.01. Authorization and Action. Each Lender (in its capacity as a Lender and
an Issuing Bank, as applicable) hereby appoints and authorizes the Agent to take such action as
agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by this Agreement
(including, without limitation, enforcement or collection of the Notes), the Agent shall not be
required to exercise any discretion or take any action, but shall be required to act or to refrain
from acting (and shall be fully protected in so acting or refraining from acting) upon the
instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and
all holders of Notes; provided, however, that the Agent shall not be required to
take any action that exposes the Agent to personal liability or that is contrary to this Agreement
or applicable law. The Agent agrees to give to each Lender prompt notice of each notice given to
it by the Borrower pursuant to the terms of this Agreement.

          SECTION 7.02. Agent’s Reliance, Etc. Neither the Agent nor any of its directors,
officers, agents or employees shall be liable for any action taken or omitted to be taken by it or
them under or in connection with this Agreement, except for its or their own gross negligence or
willful misconduct. Without limitation of the generality of the foregoing, the Agent: (i) may
treat the Lender that made any Advance as the holder of the Indebtedness resulting therefrom until
the Agent receives and accepts an Assumption Agreement entered into by an Assuming

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Lender as provided in Section 2.18 or 2.19, as the case may be, or an Assignment and
Acceptance entered into by such Lender, as assignor, and an Eligible Assignee, as assignee, as
provided in Section 8.07; (ii) may consult with legal counsel (including counsel for the Borrower),
independent public accountants and other experts selected by it and shall not be liable for any
action taken or omitted to be taken in good faith by it in accordance with the advice of such
counsel, accountants or experts; (iii) makes no warranty or representation to any Lender and shall
not be responsible to any Lender for any statements, warranties or representations (whether written
or oral) made in or in connection with this Agreement; (iv) shall not have any duty to ascertain or
to inquire as to the performance, observance or satisfaction of any of the terms, covenants or
conditions of this Agreement on the part of the Borrower or the existence at any time of any
Default or to inspect the property (including the books and records) of the Borrower; (v) shall not
be responsible to any Lender for the due execution, legality, validity, enforceability,
genuineness, sufficiency or value of, or the perfection or priority of any lien or security
interest created or purported to be created under or in connection with, this Agreement or any
other instrument or document furnished pursuant hereto; and (vi) shall incur no liability under or
in respect of this Agreement by acting upon any notice, consent, certificate or other instrument or
writing (which may be by telecopier, telegram or telex) believed by it to be genuine and signed or
sent by the proper party or parties.

          SECTION 7.03. Citibank and Affiliates. With respect to its Commitments, the Advances
made by it and the Note issued to it, Citibank shall have the same rights and powers under this
Agreement as any other Lender and may exercise the same as though it were not the Agent; and the
term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include Citibank in its
individual capacity. Citibank and its Affiliates may accept deposits from, lend money to, act as
trustee under indentures of, accept investment banking engagements from and generally engage in any
kind of business with, the Borrower, any of its Subsidiaries and any Person who may do business
with or own securities of the Borrower or any such Subsidiary, all as if Citibank were not the
Agent and without any duty to account therefor to the Lenders. The Agent shall have no duty to
disclose any information obtained or received by it or any of its Affiliates relating to the
Borrower or any of its Subsidiaries to the extent such information was obtained or received in any
capacity other than as Agent.

          SECTION 7.04. Lender Credit Decision. Each Lender acknowledges that it has,
independently and without reliance upon the Agent or any other Lender and based on the financial
statements referred to in Section 4.01 and such other documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender
also acknowledges that it will, independently and without reliance upon the Agent or any other
Lender and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement.

          SECTION 7.05. Indemnification. (a) The Lenders agree to indemnify the Agent (to the
extent not reimbursed by the Borrower) from and against such Lender’s pro rata share (determined as
provided below) of any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be
imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of
this Agreement or any action taken or omitted by the Agent under this Agreement (collectively, the
“Indemnified Costs”), provided that no Lender shall be liable for any portion of
the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct. Without
limitation of the foregoing, each Lender agrees to reimburse the Agent promptly upon demand for its
pro rata share of any out-of-pocket expenses (including counsel fees) incurred by the Agent in
connection with the preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in
respect of rights or responsibilities under, this Agreement, to the extent that the Agent is not
reimbursed for such expenses by the Borrower. In the case of any investigation, litigation or
proceeding giving rise to any Indemnified Costs, this Section 7.05(a) applies whether any such
investigation, litigation or proceeding is brought by the Agent, any Lender or a third party. For
purposes of this Section 7.05(a), the Lenders’ respective pro rata shares of any amount shall be
determined, at any time, according to the sum of (i) the aggregate principal amount of the
Revolving Credit Advances outstanding at such time and owing to the respective Lenders, (ii) their
respective pro rata Shares of the aggregate Available Amount of all Letters of Credit outstanding
at such time and (iii) their respective Unused Revolving Credit Commitments at such time.

          (b) Each Lender severally agrees to indemnify the Issuing Banks (to the extent not promptly
reimbursed by the Borrower) from and against such Lender’s Ratable Share of any and all
liabilities, obligations,

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losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever that may be imposed on, incurred by, or asserted against any such Issuing
Bank in any way relating to or arising out of this Agreement or any action taken or omitted by such
Issuing Bank hereunder or in connection herewith; provided, however, that no Lender
shall be liable for any portion of such liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements resulting from such Issuing Bank’s
gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to
reimburse any such Issuing Bank promptly upon demand for its Ratable Share of any costs and
expenses (including, without limitation, fees and expenses of counsel) payable by the Borrower
under Section 8.04, to the extent that such Issuing Bank is not promptly reimbursed for such costs
and expenses by the Borrower.

          (c) The failure of any Lender to reimburse the Agent or the Issuing Bank promptly upon demand
for its ratable share of any amount required to be paid by the Lenders to the Agent or the Issuing
Bank as provided herein shall not relieve any other Lender of its obligation hereunder to
reimburse the Agent or the Issuing Bank for its ratable share of such amount, but no Lender shall
be responsible for the failure of any other Lender to reimburse the Agent or an Issuing Bank for
such other Lender’s Ratable Share of such amount. Without prejudice to the survival of any other
agreement of any Lender hereunder, the agreement and obligations of each Lender contained in this
Section 7.05 shall survive the payment in full of principal, interest and all other amounts payable
hereunder and under the Notes.

          SECTION 7.06. Successor Agent. The Agent may resign at any time by giving written
notice thereof to the Lenders and the Borrower and may be removed at any time with or without cause
by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the
right to appoint a successor Agent with the consent, so long as no Event of Default has occurred
and is continuing, of the Borrower, which consent shall not be unreasonably withheld or delayed.
If no successor Agent shall have been so appointed by the Required Lenders, and shall have accepted
such appointment, within 30 days after the retiring Agent’s giving of notice of resignation or the
Required Lenders’ removal of the retiring Agent, then the retiring Agent may, on behalf of the
Lenders, appoint a successor Agent, which shall be a commercial bank organized under the laws of
the United States of America or of any State thereof and having a combined capital and surplus of
at least $500,000,000. Upon the acceptance of any appointment as Agent hereunder by a successor
Agent, such successor Agent shall thereupon succeed to and become vested with all the rights,
powers, discretion, privileges and duties of the retiring Agent, and the retiring Agent shall be
discharged from its duties and obligations under this Agreement. After any retiring Agent’s
resignation or removal hereunder as Agent, the provisions of this Article VIII shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was Agent under this
Agreement.

          SECTION 7.07. Other Agents. Each Lender hereby acknowledges that neither the
co-documentation agents nor any other Lender designated as any “Agent” on the signature pages
hereof has any liability hereunder other than in its capacity as a Lender.

ARTICLE VIII

MISCELLANEOUS

          SECTION 8.01. Amendments, Etc. No amendment or waiver of any provision of this
Agreement or the Notes, nor consent to any departure by the Borrower therefrom, shall in any event
be effective unless the same shall be in writing and signed by the Required Lenders and (with
respect to amendments) the Borrower, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given; provided, however,
that (a) no amendment, waiver or consent shall, unless in writing and signed by all the Lenders, do
any of the following: (i) waive any of the conditions specified in Section 3.01, (ii) change the
percentage of the Revolving Credit Commitments or of the aggregate unpaid principal amount of the
Advances, or the number of Lenders, that shall be required for the Lenders or any of them to take
any action hereunder or (iii) amend this Section 8.01 and (b) no amendment, waiver or consent
shall, unless in writing and signed by the Required Lenders and each Lender that is directly
affected by such amendment, waiver or consent, (i) other than as provided in Section 2.18, increase
the Commitments of such Lenders (ii) reduce the principal of, or interest on, the Advances or any
fees or other amounts payable hereunder to such Lender or (ii) other than as provided in Section
2.19, postpone any date fixed for any payment of principal of, or interest on, the Advances or any
fees or other amounts payable hereunder to such Lender; and provided further that
(x) no amendment, waiver or consent shall, unless in writing and signed by

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the Agent in addition to the Lenders required above to take such action, affect the rights or
duties of the Agent under this Agreement or any Note, (y) no amendment, waiver or consent shall,
unless in writing and signed by each Swing Line Bank, in addition to the Lenders required above to
take such action, affect the rights or obligations of the Swing Line Banks in their capacities as
such under this Agreement, and (z) no amendment, waiver or consent shall, unless in writing and
signed by the Issuing Banks in addition to the Lenders required above to take such action,
adversely affect the rights or obligations of the Issuing Banks in their capacities as such under
this Agreement.

          SECTION 8.02. Notices, Etc. (a) Except as otherwise specified below, all notices
and other communications provided for hereunder shall be in writing (including telecopier
communication) and mailed, telecopied or delivered, if to the Borrower, at its address at 500 West
Monroe Street, Chicago, Illinois 60661, Attention: Treasurer; if to any Initial Lender, at its
Domestic Lending Office specified opposite its name on Schedule I hereto; if to any other Lender,
at its Domestic Lending Office specified in the Assumption Agreement or the Assignment and
Acceptance pursuant to which it became a Lender; and if to the Agent, at its address at Two Penns
Way, New Castle, Delaware 19720, Attention: Bank Loan Syndications Department; or, as to the
Borrower or the Agent, at such other address as shall be designated by such party in a written
notice to the other parties and, as to each other party, at such other address as shall be
designated by such party in a written notice to the Borrower and the Agent. Notwithstanding the
preceding sentence, all materials required to be delivered pursuant to Section 5.01(a) may be
delivered to the Agent as specified in Section 8.02(b) or as otherwise specified to the Borrower by
the Agent. All such notices and communications shall, when mailed, telecopied, telegraphed or
e-mailed, be effective when received. Delivery by telecopier of an executed counterpart of any
amendment or waiver of any provision of this Agreement or the Notes or of any Exhibit hereto to be
executed and delivered hereunder shall be effective as delivery of a manually executed counterpart
thereof.

          (b) So long as Citibank or any of its Affiliates is the Agent, materials required to be
delivered pursuant to Section 5.01(a) may be delivered to the Agent in an electronic medium in a
format reasonably acceptable to the Agent and the Lenders by e-mail at
oploanswebadmin@citigroup.com and shall deliver in written form such materials to any Lender that
so requests in writing. The Borrower agrees that the Agent may make such materials, as well as any
other written information, documents, instruments and other material relating to the Borrower, any
of its Subsidiaries or any other materials or matters relating to this Agreement, the Notes or any
of the transactions contemplated hereby (collectively, the “Communications”) available to
the Lenders by posting such notices on Intralinks or a substantially similar electronic system (the
“Platform”). The Borrower acknowledges that (i) the distribution of material through an
electronic medium is not necessarily secure and that there are confidentiality and other risks
associated with such distribution, (ii) the Platform is provided “as is” and “as available” and
(iii) neither the Agent nor any of its Affiliates warrants the accuracy, adequacy or completeness
of the Communications or the Platform and each expressly disclaims liability for errors or
omissions in the Communications or the Platform. No warranty of any kind, express, implied or
statutory, including, without limitation, any warranty of merchantability, fitness for a particular
purpose, non-infringement of third party rights or freedom from viruses or other code defects, is
made by the Agent or any of its Affiliates in connection with the Platform.

          (c) Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials to such Lender for
purposes of this Agreement; provided that if requested by any Lender the Agent shall
deliver a copy of the Communications to such Lender by email or telecopier. Each Lender agrees (i)
to notify the Agent in writing of such Lender’s e-mail address to which a Notice may be sent by
electronic transmission (including by electronic communication) on or before the date such Lender
becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent has on
record an effective e-mail address for such Lender) and (ii) that any Notice may be sent to such
e-mail address.

          SECTION 8.03. No Waiver; Remedies. No failure on the part of any Lender or the Agent
to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a
waiver thereof; nor shall any single or partial exercise of any such right preclude any other or
further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

          SECTION 8.04. Costs and Expenses. (a) The Borrower agrees to pay on demand all
reasonable costs and expenses of the Agent (supported by invoices) in connection with the
preparation, execution, delivery, administration, modification and amendment of this Agreement, the
Notes and the other documents to be delivered

38

 

hereunder, including, without limitation, (A) all reasonable due diligence, syndication
(including printing, distribution and bank meetings), transportation and duplication expenses and
(B) the reasonable fees and expenses of counsel for the Agent with respect thereto and with respect
to advising the Agent as to its rights and responsibilities under this Agreement. The Borrower
further agrees to pay on demand all costs and expenses (supported by invoices) of the Agent and the
Lenders, if any (including, without limitation, reasonable counsel fees and expenses), in
connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of
this Agreement, the Notes and the other documents to be delivered hereunder, including, without
limitation, reasonable fees and expenses of counsel for the Agent and each Lender in connection
with the enforcement of rights under this Section 8.04(a).

          (b) The Borrower agrees to indemnify and hold harmless the Agent and each Lender and each of
their Affiliates and their officers, directors, employees, agents and advisors (each, an
“Indemnified Party”) from and against any and all claims, damages, losses, liabilities and
expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by or
asserted or awarded against any Indemnified Party, in each case arising out of or in connection
with or by reason of (including, without limitation, in connection with any investigation,
litigation or proceeding or preparation of a defense in connection therewith) (i) the Notes, this
Agreement, any of the transactions contemplated herein or the actual or proposed use of the
proceeds of the Advances or (ii) the actual or alleged presence of Hazardous Materials on any
property of the Borrower or any of its Subsidiaries or any Environmental Liability relating in any
way to the Borrower or any of its Subsidiaries, in each case except to the extent such claim,
damage, loss, liability or expense resulted from such Indemnified Party’s gross negligence or
willful misconduct. In the case of an investigation, litigation or other proceeding to which the
indemnity in this Section 8.04(b) applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by the Borrower, its directors, equity holders
or creditors or an Indemnified Party or any other Person, whether or not any Indemnified Party is
otherwise a party thereto and whether or not the transactions contemplated hereby are consummated.
The Borrower also agrees not to assert any claim for special, indirect, consequential or punitive
damages against the Agent, any Lender, any of their Affiliates, or any of their respective
directors, officers, employees, attorneys and agents, and the Lenders and the Agent agree not to
assert any such claim against the Borrower, on any theory of liability, arising out of or otherwise
relating to the Notes, this Agreement, any of the transactions contemplated herein or the actual or
proposed use of the proceeds of the Advances.

          (c) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by
the Borrower to or for the account of a Lender other than on the last day of the Interest Period
for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10
or 2.12, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other
reason, or by an Eligible Assignee to a Lender other than on the last day of the Interest Period
for such Advance upon an assignment of rights and obligations under this Agreement pursuant to
Section 8.07 as a result of a demand by the Borrower pursuant to Section 8.07(a), the Borrower
shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for
the account of such Lender any amounts required to compensate such Lender for any additional
losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion,
including, without limitation, any loss (excluding loss of anticipated profits (including the
Applicable Margin)), cost or expense incurred by reason of the liquidation or reemployment of
deposits or other funds acquired by any Lender to fund or maintain such Advance.

          (d) Without prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations of the Borrower contained in Sections 2.11, 2.14 and 8.04 shall survive
the payment in full of principal, interest and all other amounts payable hereunder and under the
Notes.

          SECTION 8.05. Right of Set-off. Upon (i) the occurrence and during the continuance
of any Event of Default and (ii) the making of the request or the granting of the consent specified
by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the
provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time
and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other
indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account
of the Borrower against any and all of the obligations of the Borrower now or hereafter existing
under this Agreement and the Note held by such Lender, whether or not such Lender shall have made
any demand under this Agreement or

39

 

such Note and although such obligations may be unmatured. Each Lender agrees promptly to
notify the Borrower after any such set-off and application, provided that the failure to
give such notice shall not affect the validity of such set-off and application. The rights of each
Lender and its Affiliates under this Section are in addition to other rights and remedies
(including, without limitation, other rights of set-off) that such Lender and its Affiliates may
have.

          SECTION 8.06. Binding Effect. This Agreement shall become effective (other than
Section 2.01, which shall only become effective upon satisfaction of the conditions precedent set
forth in Section 3.01) when it shall have been executed by the Borrower and the Agent and when the
Agent shall have been notified by each Initial Lender that such Initial Lender has executed it and
thereafter shall be binding upon and inure to the benefit of the Borrower, the Agent and each
Lender and their respective successors and assigns, except that the Borrower shall not have the
right to assign its rights hereunder or any interest herein without the prior written consent of
the Lenders.

          SECTION 8.07. Assignments and Participations. (a) Each Lender may and, if demanded
by the Borrower (following a demand by such Lender pursuant to Section 2.11 or 2.14 or a suspension
of Eurodollar Rate Advances pursuant to Section 2.12 and only if no Event of Default has occurred
and is continuing) upon at least five Business Days’ notice to such Lender and the Agent, will
assign to one or more Persons all or a portion of its rights and obligations under this Agreement
(including, without limitation, all or a portion of its Revolving Credit Commitment, its undrawn
Letter of Credit Commitment, the Advances owing to it, its participations in Letters of Credit and
the Note or Notes held by it); provided, however, that (i) each such assignment
shall be of a constant, and not a varying, percentage of all rights and obligations under and in
respect of one or more of the Facilities, (ii) except in the case of an assignment to a Person
that, immediately prior to such assignment, was a Lender or an assignment of all of a Lender’s
rights and obligations under this Agreement, the amount of (x) the Revolving Credit Commitment of
the assigning Lender being assigned pursuant to each such assignment (determined as of the date of
the Assignment and Acceptance with respect to such assignment) shall in no event be less than
$5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) the undrawn Letter of
Credit Commitment of the assigning Lender being assigned pursuant to each such assignment
(determined as of the date of the applicable Assignment and Acceptance) shall in no event be less
than $1,000,000, unless, in each case, the Borrower and the Agent otherwise agree, (iii) each such
assignment shall be to an Eligible Assignee, (iv) each such assignment made as a result of a demand
by the Borrower pursuant to this Section 8.07(a) shall be arranged by the Borrower after
consultation with the Agent and shall be either an assignment of all of the rights and obligations
of the assigning Lender under this Agreement or an assignment of a portion of such rights and
obligations made concurrently with another such assignment or other such assignments that together
cover all of the rights and obligations of the assigning Lender under this Agreement, (v) no Lender
shall be obligated to make any such assignment as a result of a demand by the Borrower pursuant to
this Section 8.07(a) unless and until such Lender shall have received one or more payments from
either the Borrower or one or more Eligible Assignees in an aggregate amount at least equal to the
aggregate outstanding principal amount of the Advances owing to such Lender, together with accrued
interest thereon to the date of payment of such principal amount and all other amounts payable to
such Lender under this Agreement, and (vi) the parties to each such assignment shall execute and
deliver to the Agent, for its acceptance and recording in the Register, an Assignment and
Acceptance, together with any Note subject to such assignment and a processing and recordation fee
of $3,500 payable by the parties to each such assignment, provided, however, that
no such recordation fee shall be payable in the case of an assignment made at the request of the
Borrower. Upon such execution, delivery, acceptance and recording, from and after the effective
date specified in each Assignment and Acceptance, (x) the assignee thereunder shall be a party
hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant
to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (y)
the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been
assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (other than its
rights under Sections 2.11, 2.14 and 8.04 to the extent any claim thereunder relates to an event
arising prior to such assignment) and be released from its obligations under this Agreement (and,
in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party
hereto).

          (b) By executing and delivering an Assignment and Acceptance, the Lender assignor thereunder
and the assignee thereunder confirm to and agree with each other and the other parties hereto as
follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes
no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in

40

 

connection with this Agreement or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of, or the perfection or priority of any lien or security
interest created or purported to be created under or in connection with, this Agreement or any
other instrument or document furnished pursuant hereto; (ii) such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Borrower or the performance or observance by the Borrower of any of its obligations under this
Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee
confirms that it has received a copy of this Agreement, together with copies of the financial
statements referred to in Section 4.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into such Assignment and
Acceptance; (iv) such assignee will, independently and without reliance upon the Agent, such
assigning Lender or any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi) such
assignee appoints and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under this Agreement as are delegated to the Agent by the terms
hereof, together with such powers and discretion as are reasonably incidental thereto; and (vii)
such assignee agrees that it will perform in accordance with their terms all of the obligations
that by the terms of this Agreement are required to be performed by it as a Lender.

          (c) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an
assignee representing that it is an Eligible Assignee, together with any Note or Notes subject to
such assignment, the Agent shall, if such Assignment and Acceptance has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and Acceptance, (ii) record
the information contained therein in the Register and (iii) give prompt notice thereof to the
Borrower.

          (d) The Agent shall maintain at its address referred to in Section 8.02 a copy of each
Assumption Agreement and each Assignment and Acceptance delivered to and accepted by it and a
register for the recordation of the names and addresses of the Lenders and the Commitment of, and
principal amount of the Advances owing to, each Lender from time to time (the “Register”).
The entries in the Register shall be conclusive and binding for all purposes, absent manifest
error, and the Borrower, the Agent and the Lenders may treat each Person whose name is recorded in
the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by the Borrower or any Lender at any reasonable time and from time to time
upon reasonable prior notice.

          (e) Each Lender may sell participations to one or more banks or other entities (other than the
Borrower or any of its Affiliates) in or to all or a portion of its rights and obligations under
this Agreement (including, without limitation, all or a portion of its Commitment, the Advances
owing to it and any Note or Notes held by it); provided, however, that (i) such
Lender’s obligations under this Agreement (including, without limitation, its Commitment to the
Borrower hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the
other parties hereto for the performance of such obligations, (iii) such Lender shall remain the
holder of any such Note for all purposes of this Agreement, (iv) the Borrower, the Agent and the
other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement and (v) no participant under any such
participation shall have any right to approve any amendment or waiver of any provision of this
Agreement or any Note, or any consent to any departure by the Borrower therefrom, except to the
extent that such amendment, waiver or consent would reduce the principal of, or interest on, the
Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such
participation, or postpone any date fixed for any payment of principal of, or interest on, the
Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such
participation.

          (f) Any Lender may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 8.07, disclose to the assignee or participant or proposed
assignee or participant, any information relating to the Borrower furnished to such Lender by or on
behalf of the Borrower; provided that, prior to any such disclosure, the assignee or
participant or proposed assignee or participant shall agree to preserve the confidentiality of any
Borrower Information relating to the Borrower received by it from such Lender.

          (g) Notwithstanding any other provision set forth in this Agreement, any Lender may at any
time create a security interest in all or any portion of its rights under this Agreement
(including, without limitation,

41

 

the Advances owing to it and any Note or Notes held by it) in favor of any Federal Reserve
Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System.

          SECTION 8.08. Confidentiality. Neither the Agent nor any Lender may disclose to any
Person any confidential, proprietary or non-public information of the Borrower furnished to the
Agent or the Lenders by or on behalf of the Borrower (such information being referred to
collectively herein as the “Borrower Information”), except that each of the Agent and each
of the Lenders may disclose Borrower Information (i) to its and its Affiliates’ employees,
officers, directors, agents and advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Borrower Information and
instructed to keep such Borrower Information confidential on substantially the same terms as
provided herein), (ii) to the extent requested by any regulatory or self-regulatory authority,
(iii) to the extent required by applicable laws or regulations or by any subpoena or similar legal
process, (iv) to any other party to this Agreement, (v) in connection with the exercise of any
remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement
of rights hereunder, (vi) subject to an agreement containing provisions substantially the same as
those of this Section 8.08, to any assignee or participant or prospective assignee or participant,
(vii) to the extent such Borrower Information (A) is or becomes generally available to the public
on a non-confidential basis other than as a result of a breach of this Section 8.08 by the Agent or
such Lender, or (B) is or becomes available to the Agent or such Lender on a nonconfidential basis
from a source other than the Borrower and (viii) with the consent of the Borrower.

          SECTION 8.09. Governing Law. This Agreement and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York.

          SECTION 8.10. Execution in Counterparts. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 8.11. Jurisdiction, Etc. (a) Each of the parties hereto hereby irrevocably
and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any
New York State court or federal court of the United States of America sitting in New York City, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to
this Agreement or the Notes, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in any such New York State court or, to the extent
permitted by law, in such federal court. The Borrower hereby agrees that service of process in any
such action or proceeding brought in the any such New York State court or in such federal court may
be made upon CT Corporation System at its offices at 111 Eighth Avenue, New York, New York 10011
(the “Process Agent”) and the Borrower hereby irrevocably appoints the Process Agent its
authorized agent to accept such service of process, and agrees that the failure of the Process
Agent to give any notice of any such service shall not impair or affect the validity of such
service or of any judgment rendered in any action or proceeding based thereon. The Borrower hereby
further irrevocably consents to the service of process in any action or proceeding in such courts
by the mailing thereof by any parties hereto by registered or certified mail, postage prepaid, to
the Borrower at its address specified pursuant to Section 8.02. Each of the parties hereto agrees
that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement shall affect any right that any party may otherwise have to bring any action or
proceeding relating to this Agreement or the Notes in the courts of any jurisdiction.

          (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection that it may now or hereafter have to the laying
of venue of any suit, action or proceeding arising out of or relating to this Agreement or the
Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

          SECTION 8.12. No Liability of the Issuing Banks. The Borrower assumes all risks of
the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to its
use of such Letter of Credit. Neither an Issuing Bank nor any of its officers or directors shall
be liable or responsible for: (a) the use that may be

42

 

made of any Letter of Credit or any acts or omissions of any beneficiary or transferee in
connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any
endorsement thereon, even if such documents should prove to be in any or all respects invalid,
insufficient, fraudulent or forged; (c) payment by such Issuing Bank against presentation of
documents that do not comply with the terms of a Letter of Credit, including failure of any
documents to bear any reference or adequate reference to the Letter of Credit; or (d) any other
circumstances whatsoever in making or failing to make payment under any Letter of Credit, except
that the Borrower shall have a claim against such Issuing Bank, and such Issuing Bank shall be
liable to the Borrower, to the extent of any direct, but not consequential damages suffered by the
Borrower that the Borrower proves were caused by (i) such Issuing Bank’s willful misconduct or
gross negligence in determining whether documents presented under any Letter of Credit comply with
the terms of the Letter of Credit or (ii) such Issuing Bank’s willful failure to make lawful
payment under a Letter of Credit after the presentation to it of a draft and certificates strictly
complying with the terms and conditions of the Letter of Credit. In furtherance and not in
limitation of the foregoing, such Issuing Bank may accept documents that appear on their face to be
in order, without responsibility for further investigation.

          SECTION 8.13. Patriot Act. Each Lender hereby notifies the Borrower that pursuant to
the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”), it is required to obtain, verify and record information that identifies each
borrower, guarantor or grantor (the “Loan Parties”), which information includes the name
and address of each Loan Party and other information that will allow such Lender to identify such
Loan Party in accordance with the Act.

43

 

          SECTION 8.14. Waiver of Jury Trial. Each of the Borrower, the Agent and the Lenders
hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim
(whether based on contract, tort or otherwise) arising out of or relating to this Agreement or the
Notes or the actions of the Agent or any Lender in the negotiation, administration, performance or
enforcement thereof.

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

	 	 	 	 	 
	 	GATX CORPORATION

 	 
	 	By  	/s/ William J. Hasek
 	 
	 	 	Title: Senior Vice President and Treasurer 	 

	 	 	 	 	 
	 	CITIBANK, N.A.,

as Administrative Agent and Lender

 	 
	 	By  	/s/ Kevin Ege
 	 
	 	 	Title: Vice President 	 

Co-Syndication Agents

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

 	 
	 	By  	/s/ Matthew H. Massie
 	 
	 	 	Title: Managing Director 	 
	 
	 	BANK OF AMERICA, N.A.

 	 
	 	By  	/s/ Andrew Bunton
 	 
	 	 	Title: Vice President 	 

Co-Documentation Agents

	 	 	 	 	 
	 	BAYERISCHE LANDESBANK, NEW YORK BRANCH

 	 
	 	By  	/s/
Nikolai von Mengden
 	 
	 	 	Title: Senior Vice President 	 
	 
	 	By  	     /s/ Donna M. Quilty
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 	LASALLE BANK NATIONAL ASSOCIATION

 	 
	 	By  	/s/ Joanna Gregory
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

44

 

	 	 	 	 	 

Co-Agents

	 	 	 	 	 
	 	BMO CAPITAL MARKETS FINANCING INC.

 	 
	 	By  	/s/ Pam Schwartz
 	 
	 	 	Title:  Director 	 
	 
	 	KEYBANK NATIONAL ASSOCIATION

 	 
	 	By  	/s/ Frank J. Jancar
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.

 	 
	 	By  	/s/ Robert Gallagher
 	 
	 	 	Title: Senior Vice President 	 
	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By  	/s/ Vincent B. Hendrek
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

Lenders    

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY

 	 
	 	By  	/s/ Lisa McDermott
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 	PNC BANK, N.A.

 	 
	 	By  	/s/ Marc C. Van Horn
 	 
	 	 	Title: Credit officer 	 
	 	 	 	 
	 	THE BANK OF NEW YORK

 	 
	 	By  	/s/ Edward Dougherty
 	 
	 	 	Title: Managing Director 	 
	 	 	 	 
	 

45

 

SCHEDULE I

GATX CORPORATION

AMENDED AND RESTATED CREDIT AGREEMENT

APPLICABLE LENDING OFFICES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	Swing Line	 	Letter of Credit	 	 	 	 
	Name of Initial Lender	 	Commitment	 	Commitment	 	Commitment	 	Domestic Lending Office	 	Eurodollar Lending Office
	Bank of America, N.A.
	 	$	85,000,000	 	 	$	0	 	 	$	0	 	 	100 Federal Street	 	100 Federal Street
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	MA5-100-09-02	 	MA5-100-09-02
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Boston, MA 02110	 	Boston, MA 02110
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Nicole J. Lovejoy	 	Attn:  Nicole J. Lovejoy
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  617 434-5131	 	T:  617 434-5131
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  617 310-2588	 	F:  617 310-2588
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Bank of New York
	 	$	15,000,000	 	 	$	0	 	 	$	35,000,000	 	 	One Wall Street	 	One Wall Street
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	New York, NY  10286	 	New York, NY  10286
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  K Kanhai-Ali	 	Attn:  K Kanhai-Ali
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  212 635-8208	 	T:  212 635-8208
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  212 635-7926	 	F:  212 635-7926
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bayerische Landesbank,
	 	$	45,000,000	 	 	$	0	 	 	$	0	 	 	560 Lexington Avenue	 	560 Lexington Avenue
	New York Branch
	 	 	 	 	 	 	 	 	 	 	 	 	 	New York, NY  10022	 	New York, NY  10022
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Carol Dussie	 	Attn:  Carol Dussie
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  212 310-9846	 	T:  212 310-9846
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  212 310-9930	 	F:  212 310-9930
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Citibank, N.A.
	 	$	110,000,000	 	 	$	30,000,000	 	 	$	0	 	 	Two Penns Way	 	Two Penns Way
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	New Castle, DE  19720	 	New Castle, DE  19720
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  David Graber	 	Attn:  David Graber
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  302 894-6034	 	T:  302 894-6034
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  212 994-0961	 	F:  212 994-0961
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	BMO Capital Markets
	 	$	30,000,000	 	 	$	0	 	 	$	0	 	 	115 S. LaSalle Street, #12W	 	115 S. LaSalle Street, #12W
	Financing Inc.
	 	 	 	 	 	 	 	 	 	 	 	 	 	Chicago, IL  60603	 	Chicago, IL  60603
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Elizabeth Moran	 	Attn:  Elizabeth Moran
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase Bank, N.A.
	 	$	85,000,000	 	 	$	0	 	 	$	0	 	 	111 Fannin Avenue	 	111 Fannin Avenue
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	10th Floor	 	10th Floor
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Houston, TX  77002	 	Houston, TX  77002
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Candace Grayson	 	Attn:  Candace Grayson
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  713 750-7904	 	T:  713 750-7904
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  713 750-2938	 	F:  713 750-2938

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	Swing Line	 	Letter of Credit	 	 	 	 
	Name of Initial Lender	 	Commitment	 	Commitment	 	Commitment	 	Domestic Lending Office	 	Eurodollar Lending Office
	KeyBank National
	 	$	30,000,000	 	 	$	0	 	 	$	0	 	 	127 Public Square	 	127 Public Square
	Association
	 	 	 	 	 	 	 	 	 	 	 	 	 	OH-01-27-0622	 	OH-01-27-0622
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Cleveland, OH 44114	 	Cleveland, OH 44114
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Anne Marie French	 	Attn:  Anne Marie French
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  216 689-3984	 	T:  216 689-3984
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  216 370-5995	 	F:  216 370-5995
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National LaSalle Bank
	 	$	45,000,000	 	 	$	0	 	 	$	15,000,000	 	 	135 South LaSalle Street	 	135 South LaSalle Street
	Association
	 	 	 	 	 	 	 	 	 	 	 	 	 	Chicago, IL  60603	 	Chicago, IL  60603
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Jan Smith	 	Attn:  Jan Smith
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  312 904-7692	 	T:  312 904-7692
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  312 904-6373	 	F:  312 904-6373
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mizuho
Corporate
	 	$	30,000,000	 	 	$	0	 	 	$	0	 	 	1251 Avenue of the Americas	 	1251 Avenue of the Americas
	Bank, Ltd.
	 	 	 	 	 	 	 	 	 	 	 	 	 	New York, NY  10020	 	New York, NY  10020
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Hyunsook Hwang (Sofia)	 	Attn:  Hyunsook Hwang (Sofia)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Dina Kalnitsky	 	Attn:  Dina Kalnitsky
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  201 626-9416	 	T:  201 626-9416
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  201 626-9414	 	T:  201 626-9414
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  201 626-9941	 	F:  201 626-9941
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	PNC Bank, N.A.
	 	$	20,000,000	 	 	$	0	 	 	$	0	 	 	One PNC Plaza	 	One PNC Plaza
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	249 Fifth Avenue	 	249 Fifth Avenue
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Pittsburgh, PA  15222	 	Pittsburgh, PA  15222
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Ronald Harapko	 	Attn:  Ronald Harapko
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  412 762-4753	 	T:  412 762-4753
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  412 768-4586	 	F:  412 768-4586
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Northern Trust
	 	$	25,000,000	 	 	 	 	 	 	 	 	 	 	50 S. LaSalle Street	 	50 S. LaSalle Street
	Company
	 	 	 	 	 	 	 	 	 	 	 	 	 	Chicago, IL  60675	 	Chicago, IL  60675
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Sharon Jackson	 	Attn:  Sharon Jackson
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  312 630-1609	 	T:  312 630-1609
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  3121 630-1566	 	F:  3121 630-1566
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	U.S. Bank National
	 	$	30,000,000	 	 	$	0	 	 	$	0	 	 	400 City Center	 	400 City Center
	Association
	 	 	 	 	 	 	 	 	 	 	 	 	 	OS-WI-CCCL	 	OS-WI-CCCL
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Oshkosh, WI  54901	 	Oshkosh, WI  54901
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Attn:  Connie Sweeney	 	Attn:  Connie Sweeney
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	T:  920 237-7604	 	T:  920 237-7604
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	F:  920 237-7993	 	F:  920 237-7993
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total:
	 	$	550,000,000	 	 	$	30,000,000	 	 	$	50,000,000	 	 	 	 	 

2

 

EXHIBIT A — FORM OF

NOTE

U.S.$                    

Dated:                     , 200_

          FOR VALUE RECEIVED, the undersigned, GATX CORPORATION, a New York corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of                      (the
“Lender”) for the account of its Applicable Lending Office on the Termination Date
applicable to such Lender (each as defined in the Credit Agreement referred to below) the principal
sum of U.S.$[amount of the Lender’s Revolving Credit Commitment in figures] or, if less, the
aggregate principal amount of the Revolving Credit Advances (as defined below) made by the Lender
to the Borrower pursuant to the Amended and Restated Credit Agreement dated as of May 15, 2007
among the Borrower, the Lender and certain other lenders parties thereto, and Citibank, N.A., as
Agent for the Lender and such other lenders (as amended or modified from time to time, the
“Credit Agreement”; the terms defined therein being used herein as therein defined)
outstanding on such Termination Date.

          The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit
Advance from the date of such Revolving Credit Advance until such principal amount is paid in full,
at such interest rates, and payable at such times, as are specified in the Credit Agreement.

          Both principal and interest are payable in lawful money of the United States of America to
Citibank, as Agent, at 388 Greenwich Street, New York, New York 10013, in same day funds. Each
Revolving Credit Advance owing to the Lender by the Borrower pursuant to the Credit Agreement, and
all payments made on account of principal thereof, shall be recorded by the Lender and, prior to
any transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note.

          This Promissory Note is one of the Notes referred to in, and is entitled to the benefits of,
the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of
advances (the “Revolving Credit Advances”) by the Lender to the Borrower from time to time
in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above
mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance being
evidenced by this Promissory Note and (ii) contains provisions for acceleration of the maturity
hereof upon the happening of certain stated events and also for prepayments on account of principal
hereof prior to the maturity hereof upon the terms and conditions therein specified.

	 	 	 	 	 
	 	GATX CORPORATION

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 

 

 

	 	 	 	 	 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Amount of	 	 	 	 
	 	 	Amount of	 	Principal Paid	 	Unpaid Principal	 	Notation
	Date	 	Advance	 	or Prepaid	 	Balance	 	Made By
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

2

 

EXHIBIT B — FORM OF NOTICE OF

BORROWING

Citibank, N.A., as Agent

  for the Lenders parties

  to the Credit Agreement

  referred to below

  Two Penns Way

  New Castle, Delaware 19720

[Date]

          Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

          The undersigned, GATX Corporation, refers to the Amended and Restated Credit Agreement, dated
as of May 15, 2007 (as amended or modified from time to time, the “Credit Agreement”, the
terms defined therein being used herein as therein defined), among the undersigned, certain Lenders
parties thereto and Citibank, N.A., as Agent for said Lenders, and hereby gives you notice,
irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests
a Borrowing under the Credit Agreement, and in that connection sets forth below the information
relating to such Borrowing (the “Proposed Borrowing”) as required by Section 2.02(a) of the
Credit Agreement:

	 	(i)	 	The Business Day of the Proposed Borrowing is                     ,
200_.
	 
	 	(ii)	 	The Facility under which the Proposed Borrowing is requested is
the                      Facility.
	 
	 	(iii)	 	The Type of Advances comprising the Proposed Borrowing is
[Base Rate Advances] [Eurodollar Rate Advances] [LIBOR Swing Line Advance] [Fed
Funds Swing Line Advance.
	 
	 	(iv)	 	The aggregate amount of the Proposed Borrowing is
$                    .
	 
	 	(v)	 	The initial Interest Period for each Eurodollar Rate Advance
made as part of the Proposed Borrowing is ___[week[s]] [month[s]].]

          The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Borrowing:

     (A) the representations and warranties contained in Section 4.01 of the Credit
Agreement (except the representations set forth in subsection (d)(ii) thereof and in
subsection (f) thereof) are correct, before and after giving effect to the Proposed
Borrowing and to the application of the proceeds therefrom, as though made on and as of such
date;

     (B) no event has occurred and is continuing, or would result from such Proposed
Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and

	 	 	 	 	 
	 	Very truly yours,

GATX CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 

 

 

EXHIBIT C — FORM OF

ASSIGNMENT AND ACCEPTANCE

          Reference is made to the Amended and Restated Credit Agreement dated as of May 15, 2007 (as
amended or modified from time to time, the “Credit Agreement”) among GATX CORPORATION, a
New York corporation (the “Borrower”), the Lenders (as defined in the Credit Agreement) and
Citibank, N.A., as agent for the Lenders (the “Agent”). Terms defined in the Credit
Agreement are used herein with the same meaning.

          The “Assignor” and the “Assignee” referred to on Schedule I hereto agree as follows:

          1. The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases
and assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under
the Credit Agreement as of the date hereof equal to the percentage interest specified on Schedule 1
hereto of all outstanding rights and obligations under the Credit Agreement Facility or Facilities
on Schedule I hereto together with, in the case of an assignment of a Revolving Credit Commitment,
participations in Letters of Credit held by the Assignor on the date hereof. After giving effect
to such sale and assignment, the Assignee’s Commitments and the amount of the Advances owing to the
Assignee will be as set forth on Schedule 1 hereto.

          2. The Assignor (i) represents and warrants that it is the legal and beneficial owner of the
interest being assigned by it hereunder and that such interest is free and clear of any adverse
claim; (ii) makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with the Credit Agreement or the
execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the
perfection or priority of any lien or security interest created or purported to be created under or
in connection with, the Credit Agreement or any other instrument or document furnished pursuant
thereto; (iii) makes no representation or warranty and assumes no responsibility with respect to
the financial condition of the Borrower or the performance or observance by the Borrower of any of
its obligations under the Credit Agreement or any other instrument or document furnished pursuant
thereto; and (iv) attaches the Note[, if any] held by the Assignor [and requests that the Agent
exchange such Note for a new Note payable to the order of [the Assignee in an amount equal to the
Commitments assumed by the Assignee pursuant hereto or new Notes payable to the order of the
Assignee in an amount equal to the Commitments assumed by the Assignee pursuant hereto and] the
Assignor in an amount equal to the Commitments retained by the Assignor under the Credit Agreement,
[respectively,] as specified on Schedule 1 hereto.

          3. The Assignee (i) confirms that it has received a copy of the Credit Agreement, together
with copies of the financial statements referred to in Section 4.01 thereof and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Assignment and Acceptance; (ii) agrees that it will, independently and without
reliance upon the Agent, the Assignor or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement; (iii) confirms that it is an Eligible
Assignee; (iv) appoints and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement as are delegated to the Agent by the
terms thereof, together with such powers and discretion as are reasonably incidental thereto; (v)
agrees that it will perform in accordance with their terms all of the obligations that by the terms
of the Credit Agreement are required to be performed by it as a Lender; and (vi) attaches any U.S.
Internal Revenue Service forms required under Section 2.14 of the Credit Agreement.

          4. Following the execution of this Assignment and Acceptance, it will be delivered to the
Agent for acceptance and recording by the Agent. The effective date for this Assignment and
Acceptance (the “Effective Date”) shall be the date of acceptance hereof by the Agent,
unless otherwise specified on Schedule 1 hereto.

 

 

          5. Upon such acceptance and recording by the Agent, as of the Effective Date, (i) the Assignee
shall be a party to the Credit Agreement and, to the extent provided in this Assignment and
Acceptance, have the rights and obligations of a Lender thereunder and (ii) the Assignor shall, to
the extent provided in this Assignment and Acceptance, relinquish its rights and be released from
its obligations under the Credit Agreement.

          6. Upon such acceptance and recording by the Agent, from and after the Effective Date, the
Agent shall make all payments under the Credit Agreement and the Notes in respect of the interest
assigned hereby (including, without limitation, all payments of principal, interest and facility
fees with respect thereto) to the Assignee. The Assignor and Assignee shall make all appropriate
adjustments in payments under the Credit Agreement and the Notes for periods prior to the Effective
Date directly between themselves.

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

          8. This Assignment and Acceptance may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of Schedule 1 to this Assignment and Acceptance by telecopier
shall be effective as delivery of a manually executed counterpart of this Assignment and
Acceptance.

          IN WITNESS WHEREOF, the Assignor and the Assignee have caused Schedule 1 to this Assignment
and Acceptance to be executed by their officers thereunto duly authorized as of the date specified
thereon.

2

 

Schedule 1

to

Assignment and Acceptance

	 	 	 	 	 
	Revolving Credit Facility
	 	 	 	 
	 
	 	 	 	 
	Percentage interest assigned:
	 	 	 	%
	 
	 	 	 
	 
	 	 	 	 
	Assignee’s Revolving Credit Commitment:
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Aggregate outstanding principal amount of Advances assigned:
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Principal amount of Note payable to Assignee:
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Principal amount of Note payable to Assignor:
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Letter of Credit Facility
	 	 	 	 
	 
	 	 	 	 
	Percentage interest assigned:
	 	 	 	%
	 
	 	 	 
	 
	 	 	 	 
	Assignee’s Letter of Credit Commitment:
	 	$	 	 
	 
	 	 	 
	 
	 	 	 	 
	Effective Date *:
                    , 200_
	 	 	 	 

	 	 	 	 	 	 	 
	 	 	[NAME OF ASSIGNOR], as Assignor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	Title:
	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Dated:                     , 200_	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF ASSIGNEE], as Assignee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	Title:
	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Dated:                     , 200_	 	 
	 
	 	 	 	 	 	 
	 	 	Domestic Lending Office:	 	 
	 

	 	 	 	[Address]	 	 
	 
	 	 	 	 	 	 
	 	 	Eurodollar Lending Office:	 	 
	 

	 	 	 	[Address]	 	 

 

			
	*  This date should be no earlier than five
Business Days after the delivery of this Assignment and Acceptance to the
Agent.

3

 

Accepted [and Approved] ** this

                     day of
                    , 200_

CITIBANK, N.A., as Agent

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Title:
	 	 

[Approved this                      day

of                     , 200_

GATX CORPORATION

	 	 	 	 	 
	By

	 	 	 	]*
	 

	 	 	 	 
	 

	 	Title:	 	 

 

			
	**	 	Required if the Assignee is an Eligible
Assignee solely by reason of clause (iii) of the definition of “Eligible
Assignee”.
	 
	*	 	Required if the Assignee is an Eligible
Assignee solely by reason of clause (iii) of the definition of “Eligible
Assignee”.

4

 

EXHIBIT D — FORM OF

OPINION OF COUNSEL

FOR THE BORROWER

 

 

EXECUTION COPY

AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT

Dated as of May 15, 2007

Among

GATX CORPORATION

as Borrower

and

THE INITIAL LENDERS NAMED HEREIN

as Initial Lenders

and

CITIBANK, N.A.

as Administrative Agent

and

CITIGROUP GLOBAL MARKETS INC.

as Lead Arranger and Book Manager

and

JPMORGAN CHASE BANK, N.A.

and

BANK OF AMERICA, N.A.

as Co-Syndication Agents

and

LASALLE BANK, NATIONAL ASSOCIATION

and

BAYERISCHE LANDESBANK, acting through its New York branch

as Co-Documentation Agents

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 
	SECTION 1.01. Certain Defined Terms
	 	 	1	 
	SECTION 1.02. Computation of Time Periods
	 	 	12	 
	SECTION 1.03. Accounting Terms
	 	 	12	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 
	SECTION 2.01. The Advances and Letters of Credit
	 	 	12	 
	SECTION 2.02. Making the Advances
	 	 	13	 
	SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit
	 	 	15	 
	SECTION 2.04. Fees
	 	 	16	 
	SECTION 2.05. Optional Termination or Reduction of the Commitments
	 	 	16	 
	SECTION 2.06. Repayment
	 	 	17	 
	SECTION 2.07. Interest on Advances
	 	 	17	 
	SECTION 2.08. Interest Rate Determination
	 	 	18	 
	SECTION 2.09. Optional Conversion of Advances
	 	 	19	 
	SECTION 2.10. Prepayments of Advances
	 	 	19	 
	SECTION 2.11. Increased Costs
	 	 	19	 
	SECTION 2.12. Illegality
	 	 	20	 
	SECTION 2.13. Payments and Computations
	 	 	20	 
	SECTION 2.14. Taxes
	 	 	21	 
	SECTION 2.15. Sharing of Payments, Etc.
	 	 	22	 
	SECTION 2.16. Evidence of Debt
	 	 	22	 
	SECTION 2.17. Use of Proceeds
	 	 	23	 

 

 

	 	 	 	 	 
	SECTION 2.18. Increase in the Aggregate Commitments
	 	 	23	 
	SECTION 2.19. Extension of Termination Date
	 	 	24	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 
	SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01
	 	 	25	 
	SECTION 3.03. Conditions Precedent to Each Borrowing, Commitment Increase, Extension Date and Issuance.
	 	 	26	 
	SECTION 3.03. Determinations Under Section 3.01
	 	 	27	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 
	SECTION 4.01. Representations and Warranties
	 	 	27	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 
	SECTION 5.01. Affirmative Covenants
	 	 	29	 
	SECTION 5.02. Negative Covenants
	 	 	31	 
	SECTION 5.03. Financial Covenant
	 	 	33	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 
	SECTION 6.01. Events of Default
	 	 	33	 
	SECTION 6.02. Actions in Respect of the Letters of Credit upon Default
	 	 	35	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 
	SECTION 7.01. Authorization and Action
	 	 	35	 
	SECTION 7.02. Agent’s Reliance, Etc.
	 	 	35	 
	SECTION 7.03. Citibank and Affiliates
	 	 	36	 
	SECTION 7.04. Lender Credit Decision
	 	 	36	 
	SECTION 7.05. Indemnification
	 	 	36	 
	SECTION 7.06. Successor Agent
	 	 	37	 
	SECTION 7.07. Other Agents.
	 	 	37	 

ii 

 

	 	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	 
	 	 	 	 
	SECTION 8.01. Amendments, Etc.
	 	 	37	 
	SECTION 8.02. Notices, Etc.
	 	 	38	 
	SECTION 8.03. No Waiver; Remedies
	 	 	38	 
	SECTION 8.04. Costs and Expenses
	 	 	39	 
	SECTION 8.05. Right of Set-off
	 	 	39	 
	SECTION 8.06. Binding Effect
	 	 	40	 
	SECTION 8.07. Assignments and Participations
	 	 	40	 
	SECTION 8.08. Confidentiality
	 	 	42	 
	SECTION 8.09. Governing Law
	 	 	42	 
	SECTION 8.10. Execution in Counterparts
	 	 	42	 
	SECTION 8.11. Jurisdiction, Etc.
	 	 	42	 
	SECTION 8.12. No Liability of the Issuing Banks
	 	 	43	 
	SECTION 8.13. Patriot Act
	 	 	43	 
	SECTION 8.14. Waiver of Jury Trial
	 	 	44	 

iii 

 

Schedules

Schedule I — List of Applicable Lending Offices

Exhibits

Exhibit A   -   Form of Note

Exhibit B   -   Form of Notice of Borrowing

Exhibit C   -   Form of Assignment and Acceptance

Exhibit D   -   Form of Opinion of Counsel for the Borrower

 ivEX-10.1 Interest Purchase Agreement

 

EXHIBIT 10.1

 

 

 

 

INTEREST PURCHASE AGREEMENT

by and among

SARATOGA PARTNERS IV LP,

SARATOGA MANAGEMENT COMPANY LLC,

SARATOGA COINVESTMENT IV LLC,

SARATOGA PARTNERS IV LLC and

THE MANAGEMENT SELLERS PARTY HERETO

collectively, as Sellers,

Data Return LLC,

and

TERREMARK WORLDWIDE, INC., as Purchaser

Dated as of May 11, 2007

 

 

 

 

 

 

INTEREST PURCHASE AGREEMENT

     This INTEREST PURCHASE AGREEMENT (this “Agreement”) dated as of May 11, 2007, by and
among Saratoga Partners IV, L.P., Saratoga Management Co. LLC, Saratoga Coinvestment IV, LLC,
Saratoga Partners IV LLC (collectively, the “Saratoga Sellers”), the individuals listed on
the signature pages hereto (collectively, the “Management Sellers” and, together with the
Saratoga Sellers, the “Sellers”), Data Return LLC (the “Company”) and Terremark
Worldwide, Inc., a Delaware corporation (“Purchaser”).

W I T N E S S E T H:

     WHEREAS, the Sellers collectively own 100% of the issued and outstanding membership interests
the Company; and

     WHEREAS, Sellers desire to sell to Purchaser, and Purchaser desires to purchase from Sellers,
all of Sellers’ membership interests in the Company upon the terms and subject to the conditions
provided herein.

     NOW, THEREFORE, in consideration of the mutual agreements contained herein, the parties,
intending to be legally bound hereby, agree as follows:

ARTICLE I

PURCHASE AND SALE OF MEMBERSHIP INTERESTS

     1.1 Purchase. Upon the terms and subject to the conditions set forth in this
Agreement, at the Closing (as hereinafter defined), each Seller shall sell, convey, assign and
transfer to Purchaser, and Purchaser will purchase, acquire and accept from each Seller all of such
Seller’s right, title and interest in and to the Company, free and clear of any Liens (as defined
in Section 2.1 hereof) including, without limitation, each Seller’s respective membership interest
in the Company (as set forth on Schedule 2.5 of the Company Disclosure Letter), all voting
rights, each Seller’s capital account in the Company, the right to receive distributions of cash,
property or otherwise and the right to participate in and receive profits, losses and/or income
from the Company, together with any other rights to which each Seller may now or hereafter be
entitled to as a member of the Company, all as set forth in that certain Amended and Restated
Operating Agreement of the Company dated as of June 27, 2003 (as amended, the “Operating
Agreement”) or pursuant to applicable law or otherwise (the foregoing, with respect to each
Seller, shall be referred to as its “Membership Interest”, and the aggregate Membership
Interest of all of the Sellers as the “Membership Interests”).

     1.2 Purchase Consideration. The consideration payable by Purchaser for the Membership
Interests shall be the sum of: (i) the Deposit (as defined in Section 1.10 hereof), (ii)
$65,000,000 minus the amount of the Unit Award Payments (as defined below) (the “Cash
Consideration”) and (iii) 1,925,546 validly issued, fully paid and nonassessable shares of
Purchaser common stock (“TWW Stock”) (such shares, the “Stock Consideration”). The

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Purchase Consideration shall be allocated among the Sellers as set forth on Schedule
1.2 of the Company Disclosure Letter.

     1.3 Closing Mechanics.

     (1) On or prior to the Closing, the Company shall (i) take all actions
necessary to terminate the Data Return LLC 2006 Unit Option Plan (the “Unit
Option Plan”) and the Data Return LLC 2006 Unit Appreciation Rights Plan (the
“Unit Appreciation Rights Plan”) (collectively referred to as the “Unit
Plans”). In furtherance of the foregoing, all unit options granted under the
Unit Option Plan (the “Unit Option Awards”) and all unit appreciation rights
granted under the Unit Appreciation Rights Plan (the “UAR Awards”) that are
outstanding immediately prior to the Closing Date shall be cancelled effective as of
Closing and each holder (the “Award Holders”) of the Unit Option Awards and
the UAR Awards shall receive a cash payment equal to the excess, if any, of the Fair
Market Value (as defined in the Unit Plans) of the vested portion of the Units
subject to each Unit Option Award or UAR Award, whichever applicable, over the
aggregate exercise price (as set forth in the individual award agreement) (the
“Unit Award Payments”).

     (2) At the Closing, Purchaser shall deliver to each of the Sellers: (a) an
amount equal to the Cash Consideration minus (i) the Escrow Amount (as defined
above), by wire transfer of immediately available funds to an account or accounts
designated in writing by each Seller at least two Business Days prior thereto, (ii)
the amount referred to in Section 1.7, (iii) any management, consulting or other
fees payable to any of the Sellers, (iv) the cost of the retirement the outstanding
preferred stock of the Company and (v) all legal, broker and other fees payable by
the Sellers in connection with the transaction (such net amount, the “Closing
Seller Wires”) and (b) certificates representing the Stock Consideration, duly
and validly endorsed in favor of the applicable Seller or accompanied by a separate
duly and validly executed stock power (the “Stock Deliveries”).

     1.4 Closing. The closing of sale of the Membership Interests (the “Closing”)
shall take place at the offices of Sellers’ attorneys at 10:00 a.m., local time, on the second
Business Day following the date on which the conditions set forth in Articles V and VI hereof are
satisfied or (to the extent legally permissible) waived, or at such other date as the parties shall
agree (such date, the “Closing Date”); provided that in no event shall the Closing occur on
a date later than the Termination Date. As used herein, “Business Day” means any day other than a
Saturday, a Sunday, a federally-recognized holiday or a day on which banking institutions in the
City of New York, New York, are not required to be open.

     1.5 Working Capital Adjustment. For purposes of this Agreement, “Net Working Capital”
shall mean, as of any particular date, (i) the value of all current assets (excluding cash), net of
provision for bad debt, plus restricted cash (to the extent not duplicative) of the Company as of
that date, less (ii) the amount of all current liabilities, including accrued current liabilities
not yet due, of the Company as of that date determined in each case in accordance with United
States generally accepted accounting principles (“GAAP”).

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     1.6 Adjustment Procedures.

     (a) Within forty-five (45) days after the Closing Date, Purchaser shall prepare a
calculation of the Net Working Capital as of the Closing Date in accordance with GAAP.
Purchaser shall deliver to the Seller Representative a written statement showing such
calculation as of the Closing Date (the “Closing Statement”). Purchaser shall
provide the Seller Representative and its representatives with reasonable access to such
books and records relating to the Company through the Closing Date as the Seller
Representative reasonably requests (on reasonable advance notice) in order to permit the
Seller Representative to analyze the Closing Statement.

     (b) If within thirty (30) days following delivery of the Closing Statement to the
Seller Representative, the Seller Representative has not given Purchaser written notice of
its objection as to the calculation of Net Working Capital as of the Closing Date as
reflected on the Closing Statement (which notice shall state the basis of the Sellers’
objection), then the Net Working Capital as of the Closing Date as so reflected on the
Closing Statement shall be binding and conclusive on the parties and shall be the “Closing
Net Working Capital.”

     (c) If the Seller Representative timely gives Purchaser written notice of objection
pursuant to Section 1.6(b) above, Purchaser and the Seller Representative shall attempt in
good faith to agree upon the Net Working Capital as of the Closing Date. If such an
agreement is reached, the Net Working Capital so agreed upon shall be deemed to be the
Closing Net Working Capital. If the Seller Representative and Purchaser fail to resolve the
issues raised by such objection within ten (10) Business Days of Purchaser’s receipt of the
Sellers’ objection, the Seller Representative and Purchaser shall submit the issues
remaining in dispute to a nationally recognized accounting firm to be mutually agreed upon
(the “Independent Accountants”) for resolution within thirty (30) days. If issues
are submitted to the Independent Accountants for resolution: (i) the Seller Representative
and Purchaser shall furnish or cause to be furnished to the Independent Accountants and to
the other party such work papers and other documents and information relating to the
disputed issues as the Independent Accountants may request and are available to such party
or its agents and shall be afforded the opportunity to present to the Independent
Accountants any material relating to the disputed issues and to discuss the issues with the
Independent Accountants; (ii) the determination by the Independent Accountants of the Net
Working Capital as of the Closing Date, as set forth in a notice to be delivered to both the
Seller Representative and Purchaser within thirty (30) days of the submission to the
Independent Accountants of the issues remaining in dispute, shall be final, binding and
conclusive on the parties and shall be deemed to be the Closing Net Working Capital; and
(iii) the fees and expenses of the Independent Accountants relating to such determination
shall be paid by the party who is determined by the Independent Accountants to be the losing
party (the party whose claimed Closing Net Working Capital is less accurate than such amount
determined by the Independent Accountants) in such dispute resolution.

     (d) If, after a final determination of Closing Net Working Capital pursuant to Section
1.6(b) or (c) above, Closing Net Working Capital is determined to be

3

 

less than negative three million one hundred thousand dollars ($3,100,000) (the “Target
Amount”), then the Seller Representative shall pay an amount in cash equal to any such
shortfall to Purchaser within five (5) business days following such determination. If,
after a final determination of Closing Net Working Capital pursuant to Section 1.6(b) or (c)
above, Closing Net Working Capital is determined to be greater than the Target Amount, then
the Purchaser shall pay an amount in cash equal to any such excess to the Seller
Representative within five (5) business days following such determination. Any payment
pursuant to this Section 1.6(d) shall be made in immediately available funds by wire
transfer and shall be deemed to be an adjustment to the Purchase Consideration.

     1.7 Indebtedness. At Closing, the Company shall use a portion of the Purchase Price
to pay and satisfy in full all Indebtedness set forth on Schedule 2.5 of the Company
Disclosure Letter other than short term leases.

     1.8 Cost of Transfer. The Sellers shall bear all responsibilities and pay any and all
costs associated with the transfer and delivery of the Membership Interests to Purchaser.
Purchaser shall bear all responsibilities and pay any and all costs associated with registering its
ownership interest in the Membership Interests.

     1.9 Escrow. On the Closing Date, Purchaser shall deliver an amount equal to
$2,500,000 out of the Cash Purchase Price (the “Escrow Amount”) to Citibank, N.A., by wire
transfer in immediately available funds, to be held in an escrow account for a period of two (2)
years in accordance with the terms of an escrow agreement, entered into among Purchaser, the
Sellers and Citibank, N.A., as escrow agent, in form and substance reasonably satisfactory to
Sellers and their counsel (the “Escrow Agreement”). The Escrow Amount shall be available
to satisfy the indemnification obligations of Seller pursuant to Section 7.1(c) hereof. Any
unreleased portion of the Escrow Amount shall be released to the Sellers’ Representative for
distribution to the Sellers after expiration of the escrow account’s two year term.

     1.10 Deposit. The parties acknowledge that on or prior to the date hereof, Purchaser
has paid a deposit of $5,000,000 (the “Deposit”) to Sellers and that at Closing such
deposit shall also constitute part of the Purchase Consideration. In the event of the termination
of this Agreement pursuant to certain circumstances set forth in Article VIII the Sellers shall be
entitled to keep the Deposit as liquidated damages against Purchaser and in other circumstances the
Deposit shall be refunded back to Purchaser.

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF

THE COMPANY AND SARATOGA SELLERS

     The Company and each of the Saratoga Sellers, jointly and severally, represent and warrant to
Purchaser that, except as set forth in any of the sections or subsections of the Company Disclosure
Letter delivered by the Company and the Sellers to Purchaser and attached hereto and made a part
hereof (the “Company Disclosure Letter”) corresponding to the appropriate section or
subsection of this Article II, the following is true and correct as of the date hereof and as of
the Closing Date:

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     2.1 Membership Interests. Except as disclosed on Schedule 2.1 of the Company
Disclosure Letter, each Saratoga Seller is the direct record and beneficial owner of its respective
Membership Interest set forth on such Schedule 2.1, free and clear of any claim, lien,
pledge, option, charge, easement, security interest, deed of trust, mortgage, conditional sales
agreement, adverse claim, encumbrance reservation, restriction, community or other marital property
interests, condition, equitable interest, right of first option, right of first refusal or similar
restriction, or other defect in title or right of third parties, voluntarily incurred or arising by
operation of law, and includes any agreement to give any of the foregoing in the future, and any
contingent sale or other title retention agreement or lease in the nature thereof (collectively,
“Liens”), and each Saratoga Seller has the right, power and authority to sell, transfer,
convey and assign good, valid and indefeasible title thereto, free and clear of any Liens, except
for the rights and obligations arising under the Operating Agreement. The minute books, stock
books and stock transfer records of the Company, true and complete copies of which have been made
available to Purchaser, contain true and complete minutes and records of all issuance and transfers
of the Membership Interests of the Company and of all meetings, consents, proceedings and other
actions of the members and managers of the Company.

     2.2 Organization and Qualification; Subsidiaries. The Company is a limited liability
company duly organized and validly existing under the laws of the state of Delaware. The Company
has no subsidiaries other than those listed on Schedule 2.2 of the Company Disclosure
Letter. DigitalOps, LLC, a wholly-owned subsidiary of the Company, does not currently have, nor
has it ever had since its inception, any operations, revenues, assets or liabilities, and to the
Saratoga Sellers’ knowledge, DigitalOps, LLC will not commence operations or acquire assets or
incur any liabilities prior to Closing. The Company has the requisite limited liability company
power and authority to own, operate or lease its properties and to carry on its business as it is
now being conducted. The Company is qualified to do business and is in existence in each
jurisdiction where the character of its properties owned, operated or leased or the nature of its
activities makes such qualification necessary, except for such failures which would not result in
any change, effect or event, individually or in the aggregate, that is materially adverse to the
business, results of operations, assets, liabilities or financial condition of the Company, taken
as a whole (a “Company Material Adverse Effect”); provided, however, that
in determining whether there has been a Company Material Adverse Effect, any adverse effect
principally attributable to any of the following shall be disregarded: (a) general economic,
business, industry or financial market conditions, except to the extent that such general economic,
business, industry or financial market conditions are specific to the Company or its business or
have a disproportionate effect upon the Company or its business; (b) the taking of any action
required by this Agreement; (c) the announcement or pendency of the transactions contemplated by
this Agreement, including any suit, action or proceeding arising in connection therewith; and (d)
any breach of this Agreement by Purchaser. All the outstanding membership interests in the Company
have been duly authorized, validly issued, fully paid and are non-assessable. The Company does not
directly or indirectly own or control any interest in any other corporation, partnership, joint
venture or other business association or entity.

     2.3 Authority Relative to this Agreement and Related Matters. Each of the Company and
each Saratoga Seller has all necessary power and authority to enter into this Agreement and each of
the other agreements contemplated hereby (collectively, the “Transaction Documents”) and to
perform its obligations thereunder. The execution and delivery by the Company and the

5

 

Saratoga Sellers of the Transaction Documents and the consummation by them of the transactions
contemplated thereby have been duly authorized by all necessary action on the part of the Company
and the Saratoga Sellers. The Transaction Documents have been duly executed and delivered by the
Company and the Saratoga Sellers and, assuming the due authorization, execution and delivery
thereof by Purchaser, constitute the legal, valid and binding obligation of each of the Company and
the Saratoga Sellers, enforceable against each of the Company and the Saratoga Sellers in
accordance with their terms.

     2.4 Organizational Documents. The Saratoga Sellers have heretofore furnished to
Purchaser a true, complete and correct copy of the articles of organization and Amended and
Restated Operating Agreement (the “Operating Agreement”), each as amended to date, of the
Company. Such articles of organization and Operating Agreement are in full force and effect. The
Company is not in violation of any of the provisions of its articles of organization or Operating
Agreement. No proceeding relating to the dissolution or merger of the Company or the amendment of
the Company’s articles of organization, Operating Agreement or other organizational documents is
pending or has been commenced or is contemplated.

     2.5 Capitalization. Schedule 2.5 of the Company Disclosure Letter contains a
list of each of the members of the Company and the number of units in the Company owned by each
member. The Membership Interests being sold by the Sellers pursuant to this Agreement represent
100% of the capital of the Company. All issued and outstanding interests are duly authorized,
validly issued, fully paid and non-assessable, and have been issued free and clear of all
preemptive rights or options or other Liens created by or through the Company or the Saratoga
Sellers, except for the rights and obligations arising under the Operating Agreement or as
disclosed in Schedule 2.5 of the Company Disclosure Letter. Schedule 2.5 of the
Company Disclosure Letter sets forth and summarizes all funded Indebtedness of the Company. Except
as set forth therein, the Company is not a party to any indenture, mortgage, promissory note, loan
agreement, guarantee or other agreement or commitment in respect of Indebtedness.
“Indebtedness” means the sum of all amounts owing by the Company (including principal,
interest, prepayment penalties or fees, premiums, breakage amounts, expense reimbursements or other
amounts payable in connection therewith), contingent or otherwise, whether current or long-term,
necessary to repay in full all amounts and terminate all obligations under the agreements by which
the Company is obligated, including without limitation (a) for borrowed money, evidenced by notes,
bonds, debentures or similar instruments, (b) for the deferred purchase price of goods or services
(other than trade payables and other accruals incurred in the ordinary course which are not more
than ninety days overdue or which are being contested in good faith and for which appropriate
reserves have been established in accordance with GAAP), (c) under or on account of capital leases,
(d) any obligation secured by a Lien against any of the assets of the Company and (e) in the nature
of guarantees of any of the obligations described in clauses (a)-(d) above of any other person or
other arrangements whereby responsibility is assumed for the obligations of others, including any
agreement to purchase or otherwise acquire the obligations of others or any agreement, contingent
or otherwise, to furnish funds for the purchase of goods, supplies or services for the purpose of
payment of the obligations of others, other than accounts or trade payables in the ordinary course
of business. Except for the Unit Option Awards and the UAR Awards granted to the Award Holders,
which are set forth on Schedule 2.5 to the Company Disclosure Letter, the Company has not
issued or authorized any shares, bonds, convertible bonds, subscription rights, options, warrants,
rights (including

6

 

preemptive rights), calls, commitments, rights of exchange, conversion rights, plans or other
agreements of any character providing for the purchase, issuance or sale of any interest or other
share of the capital of the Company. Except for such Unit Option Awards and UAR Awards, there are
no agreements or arrangements in force which call for the issue of new interests or securities of
the Company.

     2.6 No Conflicts; Required Filings and Consents. The execution and delivery of the
Transaction Documents by the Company and the Saratoga Sellers do not, and neither the performance
by the Company and the Saratoga Sellers thereof nor the consummation by them of the transactions
contemplated thereby will (i) conflict with or violate the articles of organization or Operating
Agreement of the Company, (ii) to the knowledge of the Saratoga Sellers and the Company, conflict
with or violate any federal, state, local, municipal, foreign, international, multinational or
other constitution, law, ordinance, principle of common law, code, regulation, statute or treaty
(collectively, “Legal Requirements”) applicable to the Saratoga Sellers or the Company or
by which any of them or their respective properties or assets is bound, (iii) except as could not
reasonably be expected to result in a Company Material Adverse Effect, result in any breach of or
constitute a default (or an event which with notice or lapse of time or both would become a
default) under, or give to others any rights of termination or cancellation of, or result in the
creation of a Lien on any of the properties or assets of the Saratoga Sellers or the Company
pursuant to, any note, bond, mortgage, indenture, contract, agreement, lease or other instrument or
obligation to which the Saratoga Sellers or the Company is a party or by which the Saratoga Sellers
or the Company or any of their respective properties or assets is bound, or (iv) to the knowledge
of the Saratoga Sellers and the Company, require the Saratoga Sellers or the Company to obtain any
consent, approval, authorization or permit of, or to make any filing with or notification to, any
third party pursuant to contractual obligation or applicable law, including any court of competent
jurisdiction or any local, state, federal or foreign governmental, regulatory, administrative or
judicial unit, entity, agency or authority (collectively, any “Governmental Authority”),
except for filings, if any, required pursuant to the Hart-Scott-Rodino Antitrust Improvements Act
of 1976, as amended, and the rules and regulations promulgated thereunder (the “HSR Act”)
or which could not reasonably be expected to have a Company Material Adverse Effect.

     2.7 Absence of Certain Changes or Events. Except as contemplated by this Agreement
and as disclosed in Schedule 2.7 of the Company Disclosure Letter, since March 31, 2007,
(a) the Company has operated its business in the ordinary course of business consistent with past
practice, (b) there has not been any Company Material Adverse Effect, and (c) the Company has not
(i) amended its articles of organization or Operating Agreement, (ii) declared or set aside any
dividends or made any other distribution in cash with respect to the Company’s capital stock, (iii)
declared or made any distributions in securities or property which will not be paid at or prior to
Closing, (iv) issued any additional membership interests or issued, sold or granted any option or
right to acquire, or otherwise disposed of, any of its unissued membership interests, (v)
repurchased or redeemed any of its membership interests, (vi) merged into or with or consolidated
with, any other corporation or acquired the business or assets of any person, (vii) created,
incurred, assumed, guaranteed or otherwise become liable or obligated with respect to any
Indebtedness in excess of $100,000 in the aggregate, or made any loan or advance to, or any
investment in, any person in excess of $10,000 in the aggregate, except in each case in the
ordinary course of business consistent with past practices, (viii) entered into, amended or

7

 

terminated any agreement specified in Schedule 2.16 of the Company Disclosure Letter,
(ix) sold, transferred, leased, mortgaged, encumbered or otherwise disposed of, or agreed to sell,
transfer, lease, mortgage, encumber or otherwise dispose of, any properties or assets with a value
in excess of $10,000 except inventory sold in the ordinary course of business or pursuant to any
agreement specified in Schedule 2.16 of the Company Disclosure Letter, (x) settled any
claim or litigation, or filed any motions, orders, briefs or settlement agreements in any
proceeding before any Governmental Authority or any arbitrator, (xi) incurred or approved, or
entered into any agreement or commitment to make, any expenditure in excess of $10,000 in the
aggregate (other than those required pursuant to any agreement set forth on Schedule 2.16
of the Company Disclosure Letter or in the ordinary course of business consistent with past
practices), (xii) effected any material increase in (1) the rate of compensation payable or to
become payable to its directors, managers, officers, agents or employees or (2) the payment of any
bonus, payment or arrangement made to, for or with any of its directors, managers, officers, agents
or employees, except as required by an agreement set forth in Schedule 2.16 of the Company
Disclosure Letter or by any Company Employee Plan set forth on Schedule 2.8 of the Company
Disclosure Letter or in the ordinary course of business consistent with past practice, (xiii) sold,
assigned, transferred or granted any license with respect to any patent, trademark, trade name,
service mark, copyright, trade secret or other material intangible asset (including software source
code and object code, and algorithms), except pursuant to licenses or other agreements set forth on
Schedule 2.16 of the Company Disclosure Letter; (xiv) suffered any loss of property or
waived any right, in each case of value in excess of $10,000, whether or not in the ordinary course
of business, (xv) abandoned, withdrawn, allowed to become abandoned, withdrawn or expired, or
otherwise relinquished any material right or filing relating to any Intellectual Property (as
defined in Section 2.17) or value in excess of $10,000 or (xvi) made any agreement or commitment to
do any act described in (i)-(xvi) above.

     2.8 Employee Benefit Plans.

     (1) Schedule 2.8 of the Company Disclosure Letter sets forth a true and
complete list of all “employee benefit plans” within the meaning of Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
each employment, consulting or material severance contract or plan and each other
plan or arrangement providing for bonuses, profit-sharing, membership option or
other equity-based compensation or deferred compensation, vacation benefits,
employee assistance program, disability or sick leave benefits, which is maintained
or contributed to by the Company or any of its subsidiaries (each, a “Company
Employee Plan”). Copies of the Company Employee Plans (and, if applicable,
related trust or funding agreements or insurance policies) and all amendments
thereto, together with the most recent Internal Revenue Service determination
letter, if applicable, with respect thereto, and the most recent actuarial valuation
report and annual report (Form 5500 including, if applicable, Schedule B thereto)
prepared in connection with any such plan or trust, have been made available to
Purchaser.

     (2) Except as would not individually or in the aggregate have a Company
Material Adverse Effect: (i) each Company Employee Plan has been maintained and
operated in accordance with its terms and applicable law, including,

8

 

without limitation, ERISA and the Internal Revenue Code of 1986, as amended
(the “Code”); (ii) except as set forth in Schedule 2.08 of the
Company Disclosure Letter, each Company Employee Plan intended to qualify under
Section 401(a) of the Code has received a determination letter from the Internal
Revenue Service to the effect that the Company Employee Plan is qualified under
Section 401 of the Code and no circumstances exist that would reasonably be expected
to result in the revocation of any such determination letter; (iii) no claim,
lawsuit, arbitration or other action (including, without limitation, any audits or
proceedings pending with any governmental or regulatory agency) has been threatened,
asserted, instituted, or, to the knowledge of the Saratoga Sellers and the Company,
is anticipated against, or in respect of, any Company Employee Plan (other than
routine claims for benefits), (iv) no non-exempt “prohibited transaction” has
occurred, with respect to any Company Employee Plan, within the meaning of ERISA and
the Code; and (v) no Company Employee Plan is subject to Section 412 of the Code,
and the Company does not have any liability under Title IV of ERISA. No Company
Employee Plan is a “multiemployer plan,” as defined in Section 3(37) of ERISA, or
otherwise subject to Title IV or Section 302 of ERISA, and the Company has no
liability (including actual or potential withdrawal liability) with respect to any
multiemployer plans.

     (3) Except as set forth in Schedule 2.8 of the Company Disclosure
Letter, (i) the Company is not obligated under any employee welfare benefit plan as
described in Section 3(1) of ERISA (“Welfare Plan”) to provide medical or death
benefits with respect to any employee or former employee of the Company or its
predecessors after termination of employment, except as required under Section 4980B
of the Code or Part 6 of Title I of ERISA or other applicable law; (ii) the Company
has complied with the notice and continuation coverage requirements, and all other
requirements, of Section 4980B of the Code and Parts 6 and 7 of Title I of ERISA,
and the regulations thereunder; and (iii) no Welfare Plan that is a group health
plan is a self-insured plan.

     (4) Except as set forth in Schedule 2.8 of the Company Disclosure
Letter, (i) the Company is not and will not be obligated to pay separation,
severance, termination or similar benefits as a result of any transaction
contemplated by this Agreement, nor will any such transaction accelerate the time of
payment or vesting, or increase the amount, of any benefit or other compensation due
to any individual, and (ii) any amount payable by the Company that is contingent
upon the closing of the transactions contemplated by this Agreement will not be
classified as an excess parachute payment under Section 280G of the Code.

     (5) Each Company Employee Plan that is a “nonqualified deferred compensation
plan” (as defined under Section 409A(d)(1) of the Code) has been operated and
administered in good faith compliance, in all material respects, with Section 409A
of the Code from the period beginning January 1, 2005 through the date hereof and
has not been materially modified since October 2, 2004.

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     2.9 Financial Statements.

     (1) The Company has heretofore provided to Purchaser (a) audited consolidated
financial statements of the Company and its subsidiaries for the years ended
December 31, 2004, 2005 and 2006, including all related notes and schedules
(collectively, the “Audited Financial Statements”), and (b) internally
prepared financial statements for the three months ended March 31, 2007 (the
“Unaudited Financial Statements” and, together with the Audited Financial
Statements, the “Financial Statements”). The Financial Statements, together
with the notes thereto, were prepared in accordance with the books and records of
the Company, which books and records are complete and accurate in all material
respects, have been prepared in accordance with generally accepted accounting
principles applied on a consistent basis during the periods involved
(“GAAP”), present fairly and accurately, in all material respects, the
consolidated financial condition and results of operations of the Company as of the
respective dates thereof and for the periods then ended and include all adjustments
which are necessary for a fair presentation of the financial condition and results
of operations of the Company for the periods covered by such statements and make
full and adequate provisions for all liabilities or obligations of the Company,
whether accrued, absolute, contingent or otherwise, in accordance with GAAP.

     (2) Except as set forth in the Financial Statements or as set forth on
Schedule 2.9 of the Company Disclosure Letter, the Company has no
liabilities, obligations or Indebtedness, contingent or otherwise, which are not
adequately reflected in or reserved against in the Financial Statements, other than
liabilities incurred since the date of the Financial Statements in the ordinary
course of business consistent with past practices or which would not result in a
Material Adverse Effect.

     (3) Schedule 2.9 of the Company Disclosure Letter sets forth (i) the
amount of all Indebtedness of the Company set forth on Schedule 2.5 of the
Company Disclosure Letter, (ii) any Lien with respect to such Indebtedness and (iii)
a list of each instrument or agreement governing such Indebtedness (true and correct
copies of which have been provided to the Purchaser). To the Company’s knowledge,
no default (or event which with the giving of notice or passage or time would
constitute a default) exists with respect to or under any such Indebtedness or any
instrument or agreement relating thereto.

     (4) The Company’s Financial Statements set forth a complete list of the
Company’s accounts payable and accrued expenses in accordance with GAAP as of the
date or dates thereof.

     (5) The accounts receivable of the Company reflected on the Financial
Statements, and all receivables incurred since the date of the Financial Statements,
arose from bona fide transactions in the ordinary course of business, are fully
collectible, and the goods and services involved have been sold, delivered or
performed (as applicable) in full. No such account has been assigned or pledged to
any other person, firm or corporation and no defense or set-off to any such account
has been asserted by the account obligor or exists. The allowance for

10

 

doubtful accounts set forth in the balance sheet as of the most recent balance
sheet date delivered to the Purchaser is adequate from a historical perspective for
the nonpayment of claims previously submitted and for which revenues have been
accrued.

     (6) The accounting books and records of the Company have been maintained in
accordance with sound business practices, including the maintenance of an adequate
system of internal controls.

     2.10 Permits and Licenses. The Company holds all material licenses, franchises,
authorizations, permits and certificates necessary to enable the Company to continue to conduct its
business as presently conducted (collectively, the “Company Licenses”). Schedule
2.10 of the Company Disclosure Letter includes a correct and complete list of each material
Company License. Each Company License is valid and in full force and effect and, to the knowledge
of the Saratoga Sellers and the Company, no suspension or cancellation of any such Company License
is threatened and no default exists under such Company Licenses. Except as set forth in
Schedule 2.10 of the Company Disclosure Letter, no right of termination will arise under
such Licenses as a result of the consummation of the transactions consummated by this Agreement.

     2.11 Properties. The Company has good and marketable title to its personal property
and valid and subsisting leasehold interests or licenses in all of its real and material personal
properties and assets, in each case now or as of the Closing Date free and clear of all Liens,
except for those: (i) securing Taxes, assessments and other governmental charges or levies not yet
due or delinquent or otherwise contested in good faith by appropriate proceedings for which
appropriate reserves have been established in accordance with GAAP or the statutory or common law
liens of materialmen, mechanics, carriers, construction contractors, warehousemen or landlords or
other like liens for labor, materials, supplies or rentals; (ii) consisting of deposits or pledges
in connection with, or to secure payment of, obligations under workers’ compensation, unemployment
insurance or similar legislation or under surety or performance bonds; (iii) constituting
encumbrances in the nature of zoning restrictions, easements, rights of way, restrictions,
encroachments, protrusions and other, similar encumbrances and minor title defects affecting the
use of any real property leased by the Company or any matters appearing on a survey (collectively,
the “Company Real Property”), (iv) any interest or title of a lessor, sublessor, licensor
or sublicensor or secured by a lessor’s, sublessor’s, licensor’s or sublicensor’s interest under
leases entered into by the Company in the ordinary course of business and liens against the lessor,
sublessor, licensor or sublicensor in any Company Real Property, (v) liens arising from
precautionary Uniform Commercial Code financing statement or similar filings and (vi) any other
liens that would not reasonably be expected to have a Material Adverse Effect; provided the
same do not materially interfere with or prohibit the present use of such properties taken as a
whole (“Permitted Encumbrances”).

     2.12 Real Property. Schedule 2.12 of the Company Disclosure Letter contains a
complete and correct list of all Company Real Property. All such real property, the buildings and
structures thereon, and the operations and maintenance thereof comply in all material respects with
all applicable restrictive covenants and conform in all material respects to all applicable Legal
Requirements, including those relating to land use and zoning; provided, that, if such real
property, buildings and structures are leased by the Company, this sentence shall apply only to

11

 

the portion leased or operated and to the extent that the obligation to so comply is that of
the Company and no other person. The buildings and other structures on such real property leased
or owned by the Company are in reasonably good operating condition and repair, subject to ordinary
wear and tear. The Company neither owns any real property nor does the Company lease any real
property as sublessor or sublessee. As of the date hereof, each of the leases that relate to the
Company Real Property is a valid, legal and binding agreement of the Company in accordance with its
terms. The Company is not in default under any such lease and to the best knowledge of the
Saratoga Sellers and the Company, no event has occurred which, after notice or lapse of time or
both, would constitute a default under any such lease. All utilities and similar systems that are
required for the operation of the Company’s business at all Company Real Property are, in all
material respects, operating and sufficient to enable all such Company Real Property to continue to
be used and operated in the manner currently being used and operated by the Company. The Company
does not own any real property (including, without limitation, any option or other right or
obligation to purchase any real property or any interest therein).

     2.13 Compliance with Environmental Laws. For purposes of this Agreement, except as
otherwise provided, unless the context otherwise requires:

     “Environment” shall mean any surface or subsurface physical medium or any natural
resource, including, without limitation, air, land, soil, surface waters, ground waters, stream and
river sediments, biota and any indoor area, surface or physical medium.

     “Environmental Law” shall mean any federal, state or local law, rule, regulation,
ordinance, code, order, judgment, decree or rule of common law enacted, promulgated or issued prior
to the Closing Date relating to the injury to, or the pollution or protection of, the Environment
or public health to the extent related to the exposure or potential exposure to Hazardous
Materials.

     “Hazardous Materials” shall mean petroleum, petroleum products, petroleum-derived
substances, radioactive materials, wastes, polychlorinated biphenyls, lead-based paint, radon, urea
formaldehyde, asbestos or any materials containing asbestos, and any other materials, substances,
chemicals, pollutants, contaminants or constituents subject to regulation or which could give rise
to liability under any Environmental Law.

     The operations of the Company and any Company Real Property comply with all applicable
Environmental Laws, except for such non-compliances which individually or in the aggregate would
not have a Company Material Adverse Effect. To the knowledge of Saratoga Sellers and the Company,
the Company Real Property does not contain any Hazardous Materials in, on, over, under, at or
emanating from it, in a manner, form or concentrations that could reasonably be expected to violate
or result in liability to the Company under any applicable Environmental Laws in any material
respect. The Company has obtained all material permits required under applicable Environmental Law
for the operations of the Company and is in compliance in all material respects with the terms and
conditions of such permits. There have been no written private or governmental claims, citations,
complaints, notices of violation or letters made, issued to or to the knowledge of the Company
threatened, against the Company by any Governmental Authority or other party alleging any violation
of or liability under any Environmental Law resulting, in whole or in part, from the ownership, use
of operation of any of the Company

12

 

Real Property, except for those matters which would not reasonably be expected to result in a
Company Material Adverse Effect. The Purchaser has been provided with true, accurate and complete
copies of any material written information in the possession of the Company or any of the Sellers
that pertains to the environmental history of the Company Real Property. The Company and the
Sellers shall also promptly furnish to Purchaser true, accurate and complete copies of any sampling
and test results, if any, obtained by the Company prior to the Closing from all environmental
and/or health samples and tests taken at and around the Company Real Property.

     2.14 Labor and Employment Matters. Except as would not, individually or in the
aggregate have a Company Material Adverse Effect, (i) the Company is not involved in or, to the
knowledge of the Saratoga Sellers and the Company, threatened with any labor dispute, grievance or
litigation relating to labor, safety or discrimination matters involving any of its employees,
including, without limitation, charges of unfair labor practices or discrimination complaints; and
(ii) the Company is operating and has been operated in compliance in all respects with all laws
covering employment and employment practices, terms and conditions of employment and wages and
hours, including any laws respecting employment discrimination, overtime pay, equal opportunity,
affirmative action, employee privacy, wrongful or unlawful termination, workers’ compensation,
occupational safety and health requirements, labor/management relations, immigration, benefits, and
collective bargaining, the payment of social security and similar Taxes and unemployment insurance,
or related matters and is otherwise not engaged in any unfair labor practices within the meaning of
the National Labor Relations Act, the Fair Labor Standards Act and any equivalent act or statute
under applicable state law. The Company is not a party to, or bound by, any collective bargaining
agreement with respect to its employees and no collective bargaining agreement is being negotiated
by the Company nor, to the knowledge of the Saratoga Sellers and the Company, is any employee of
the Company represented by any labor union or similar association. No labor union or employee
organization has been certified or recognized as the collective bargaining representative of any
employees of the Company. To the knowledge of Saratoga Sellers and the Company, there are no union
organizing campaigns or representation proceedings in process or threatened with respect to any
employees of the Company or any existing or threatened labor strikes, work stoppages, organized
slowdowns, unfair labor practice charges or labor arbitration proceedings affecting any employee of
the Company. Except as set forth on Schedule 2.14 of the Company Disclosure Letter, or as
accrued on the Financial Statements, in the event of termination of the employment of any employee,
neither the Purchaser nor the Company will, pursuant to any agreement with the Management Sellers
or the Company or by reason of any representation made or plan adopted by the Management Sellers or
the Company prior to the Closing, be liable to any employee for so-called “severance pay,”
parachute payments or any other similar payments or benefits, including, without limitation,
post-employment healthcare or insurance benefits. None of the officers or other key employees of
the Company has notified any of the Saratoga Sellers or the Company of his or her present intention
to terminate his or her employment with the Company. To the knowledge of the Company and the
Saratoga Sellers, no manager, officer or employee of or consultant to the Company is in violation
of any terms of any employment contract, non competition agreement, non disclosure agreement or
other contract or agreement containing restrictive covenants relating to the right of any such
manager, officer, employee or consultant to be employed or engaged by the Company.

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     2.15 Tax Returns, Audits and Liabilities. For purposes of this Agreement, except as
otherwise expressly provided, unless the context otherwise requires:

     “Return” means any report, return, form or other document required to be
supplied to a taxing authority in connection with Taxes.

     “Tax” or “Taxes” means taxes of any kind, levies or other like
assessments, customs, duties, imposts, or other governmental charges, including, without
limitation, income, gross receipts, ad valorem, value added, excise, real or personal
property, asset, sales, use, license, payroll, transaction, capital, net worth and franchise
taxes, estimated taxes, withholding, employment, social security, workers compensation,
utility, severance, production, unemployment compensation, occupation, premium, windfall
profits, transfer and gains taxes or other taxes imposed by or payable to the United States,
or any state or local or foreign government or subdivision or agency thereof, including any
liability for taxes under Treasury Regulations Section 1.1502-6 (or any similar provision of
state, local or foreign law), and in each instance such term shall include any interest,
penalties or additions to tax attributable to any such Tax.

     The Company has (i) filed all Returns required to be filed by it and (ii) paid all Taxes
imposed on or otherwise owed by it whether or not shown to have become due pursuant to such
Returns. All Returns filed by the Company (or the Saratoga Sellers acting on behalf of the
Company) with respect to Taxes were true and correct in all material respects as of the respective
dates on which they were filed. There is no suit, proceeding, audit, claim or proposed assessment
pending or, to the knowledge of the Saratoga Sellers and the Company, threatened with respect to
any liability for Tax of the Company for which a material amount of Tax is at issue. There are no
Liens on the assets of the Company for any Tax currently due and owing. None of the Saratoga
Sellers is a “foreign person” as that term is defined in Section 1445(f)(3) of the Code. Any and
all tax sharing agreements to which the Company is a party shall be terminated effective on or
prior to the Closing Date with respect to the Company, and from and after such Closing Date, the
Company shall not have any further rights, obligations and liabilities thereunder. The Company is
not currently the beneficiary of any extension of time within which to file any Return. The
Company has complied with applicable law relating to the reporting, payment and withholding of
Taxes in connection with amounts paid to its employees, creditors, independent contractors or other
third parties and has, within the time and in the manner prescribed by law, withheld from such
amounts and timely paid over to the proper Governmental Authorities all such amounts required to be
so withheld and paid over under applicable law, except for failures which, individually or in the
aggregate, has not had or would not reasonably be expected to have a Company Material Adverse
Effect. Schedule 2.15 of the Company Disclosure Letter lists all material elections for
Taxes affirmatively made in writing and currently in force to which the Company is bound. The
Company has made no election to be taxed as a Subchapter S corporation within the meaning of
Sections 1361 and 1362 of the Code, and the Company will not be a Subchapter S corporation on the
Closing Date.

     2.16 Material Contracts. Schedule 2.16 of the Company Disclosure Letter
discloses any and all (written or oral) contracts, agreements, arrangements, understandings,
commitments, obligations, leases, deeds, mortgages, bonds, notes, indentures, loan agreements,
promissory notes, sales orders, purchase orders, customer agreements or other documents or
instruments

14

 

     (“Contracts”) described in clauses (i) through (x) below to which the Company is a
party or by which the Company or its assets are bound (“Material Contracts”):

     (i) each Contract (or series of related Contracts) of the Company that requires
the payment or incurrence of liabilities by the Company subsequent to the date of
this Agreement of more than Fifty Thousand Dollars ($50,000) (in the case of
customer contracts, One Hundred Thousand Dollars ($100,000)) annually;

     (ii) each Contract (or series of related Contracts) of the Company that
requires the provision of goods or the rendering of services by the Company
subsequent to the date of this Agreement for value of more than Fifty Thousand
Dollars ($50,000) (in the case of customer contracts, One Hundred Thousand Dollars
($100,000)) annually;

     (iii) each acquisition, partnership or joint venture or other similar Contract
entered into by the Company during the three (3)-year period ending with the date of
this Agreement or currently in effect in any respect;

     (iv) each Contract restricting or otherwise materially affecting the ability of
the Company to compete in any business in any jurisdiction;

     (v) each Contract with any of the members or affiliates of the Company;

     (vi) each Contract with any employees, officers, directors, consultants or
advisors;

     (vii) each lease for capital equipment that provides for ongoing payments by
the Company in excess of Fifty Thousand Dollars ($50,000) annually;

     (viii) each security holders agreement, registration rights agreement, voting
agreement, voting trust agreement or similar agreements to which the Company is
subject;

     (ix) each agreement relating to development, ownership or licensing of any
Intellectual Property;

     (x) agreements, instruments or other documents under which the Company assumes,
guarantees, endorses or otherwise becomes directly or contingently liable on or for
any Indebtedness of any other person, including any of the Sellers, except
guarantees by endorsement of negotiable instruments or deposit or collection or
similar transactions; and

     (xi) each Contract either (A) requiring any payments or (B) the terms of which
provide for an increase in the amount of any payment, in either case solely because
of the consummation of the transactions contemplated by this Agreement.

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     Correct and complete copies of such Material Contracts have heretofore been made available to
Purchaser. Each Material Contract is in full force and effect and is valid and enforceable by and
against the Company (except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and other similar laws relating to or affecting creditors’ rights
generally and by general equitable principles (regardless of whether such enforceability is
considered in a proceeding in equity or at law)) and to the knowledge of the Saratoga Sellers and
the Company, each Material Contract is valid and enforceable against the other parties thereto
(except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and
other similar laws relating to or affecting creditors’ rights generally and by general equitable
principles (regardless of whether such enforceability is considered in a proceeding in equity or at
law)), in each case in accordance with its terms. The Company is not in default under any Material
Contract nor has it received written notice or oral notice of any default under any such Material
Contract. All contracts are with the Company and Data Return Limited, the Company’s wholly-owned
subsidiary in the United Kingdom, and, to the extent a contract constitutes a Material Contract,
the respective counterparty to each such contract is noted on Schedule 2.16 of the Company
Disclosure Letter. DigitalOps, LLC, the Company’s other wholly-owned subsidiary is not a party to
any contract.

     2.17 Intellectual Property.

     (1) Schedule 2.17 of the Company Disclosure Letter contains a complete
list of the Intellectual Property that is owned by or licensed to, or is otherwise
used by, the Company (in each case as specified in Schedule 2.17 of the
Company Disclosure Letter). Such Intellectual Property is the only Intellectual
Property that is used or needed in order to conduct the business of the Company as
currently conducted and as contemplated to be conducted in the future. Except as
disclosed in Schedule 2.17 of the Company Disclosure Letter, the Company is
the record owner of and owns the entire right, title and interest in all such
Intellectual Property, free and clear of any liens, security interests, claims,
defects in title, ongoing payment obligations, rights of attribution or other
encumbrances of any kind. The patents and registrations for the other such
Intellectual Property have been duly maintained, are valid and in full force and
effect. No filing or payment of any kind was or is required to be made with respect
to any of the filings relating to such Intellectual Property at any time prior to 90
days after the Closing which has not been made and/or paid in full. Schedule
2.17 of the Company Disclosure Letter contains a complete list of all license or
other agreements under which the Company is granted a license to use any
Intellectual Property or under which the Company has granted a license to any third
party to use any Intellectual Property. All such agreements are in full force and
effect, there have been no breaches of any such agreement by any of the parties
thereto, and there are no outstanding or threatened disputes or disagreements with
respect to any such agreement. None of such agreements, nor the operation of the
Company’s business, violates any U.S. embargoes, export control laws or regulations.

     (2) Neither the Company nor any Saratoga Seller is aware of any claim,
allegation or basis for any claim or allegation that any of such Intellectual
Property is subject to defenses that would preclude or impair enforcement of the

16

 

Company’s exclusive rights thereto, including, without limitation, misuse,
laches, acquiescence, statute of limitations, abandonment, unclean hands or
fraudulent registration. There are no past or present claims, demands or
proceedings instituted, pending or proposed or, to the knowledge of the Saratoga
Sellers and the Company, threatened by any third party pertaining to or challenging
the use of, or right to use, any of the Intellectual Property by the Company or
claiming that any of the use of such Intellectual Property or that any of the
Company’s products or services infringes on any third party intellectual property
right, nor, to the knowledge of the Saratoga Sellers and the Company, is there any
basis for any such claim, demand or proceeding. To the knowledge of the Saratoga
Sellers and the Company, neither the Company’s products or services, nor the conduct
of the business of the Company as previously or currently conducted, infringes upon
any third party intellectual property or other rights. To the knowledge of the
Saratoga Sellers and the Company, no person is infringing any of the Intellectual
Property owned, or licensed or otherwise used by the Company and no royalty or other
consideration is required to be paid by the Company to any other person in respect
of the use of any Intellectual Property except as disclosed in Schedule 2.17
of the Company Disclosure Letter.

     (3) All rights to any invention, improvement, discovery, information, work of
authorship or other work product relating to the Company’s business developed or
created by a former or current employee of the Company or any of its predecessors
and their respective affiliates or a former or current independent contractor
involved in the development of such Intellectual Property in connection with their
engagement or employment by the Company or its predecessors or respective affiliates
have been assigned or have been agreed to be assigned to the Company by virtue of
contractual obligation or operation of law. Reasonable precautions have been taken
to protect the secrecy and value of all trade secrets forming part of such
Intellectual Property, including, without limitation, all proprietary and
confidential business methods, techniques and practices, such precautions including,
without limitation, implementation and enforcement of confidentiality policies and
practices and requiring key employees and contractors having access to any
confidential and proprietary information used in the Company’s business to execute
and deliver written confidentiality agreements obligating them to maintain the
confidentiality of same.

     (4) The Company’s computer and information technology hardware, software and
systems are owned by, or licensed or leased to, the Company. All software used by
the Company is owned by the Company or used pursuant to, and within the scope of, a
valid license or other enforceable right, is not a “bootleg” or otherwise
unauthorized version or copy, and does not include any open source software. The
Company possesses such working copies of all of such software, including object code
and, unless otherwise specified in Schedule 2.17 of the Company Disclosure
Letter, source code and all related manuals, licenses and other documentation, as
are necessary for the current conduct of all portions of the Company’s business
consistent with prudent business practices. Such hardware, software and systems:
(i) are in satisfactory working order and are scalable to

17

 

meet current and reasonably anticipated capacity; (ii) have appropriate
security, back ups, disaster recovery arrangements, source code escrow arrangements
and hardware and software support and maintenance to minimize the risk of material
error, breakdown, failure or security breach occurring and to ensure if such event
does occur it does not cause a material disruption to any portion of the Company’s
business; (iii) are configured and maintained to minimize the effects of viruses and
do not contain viruses, Trojan horses, back doors other malicious code; and (iv)
have not suffered any material error, breakdown, failure or security breach which
has caused disruption or damage to any portion of the Company’s business.

     (5) Neither the Company nor any Saratoga Seller has at any time prior to the
date of this Agreement received notification of any kind alleging that the Company
or any predecessor entity or any of their respective affiliates has not complied
with applicable data protection laws.

     (6) For purposes of this Agreement, “Intellectual Property” means all
intangible property rights including, but not limited to, inventions, discoveries,
trade secrets, processes, formulae, know-how, proprietary confidential information,
United States and foreign patents, patent applications, trade names, fictitious
names, trademarks, service marks and trade dress (together with associated
goodwill),domain names and copyrights, moral rights, rights of publicity and any
registrations or applications for registrations relating thereto, any common law
rights and any other proprietary rights relating to any of the foregoing.

     2.18 Litigation. Except as disclosed on Schedule 2.18 to the Company
Disclosure Letter, to the knowledge of the Saratoga Sellers, there is no litigation, action, suit,
proceeding, charge or complaint pending or, to the Company’s or the Saratoga Sellers’ knowledge,
threatened against the Company or any of its subsidiaries or any of their respective properties or
assets or any of their respective officers or directors (in their capacity as officers or directors
of the Company or any subsidiary). To the Company’s or the Saratoga Sellers’ knowledge, none of
the Sellers or the Company is in default with respect to any order, settlement agreement, writ,
injunction, decree, ruling or decision of any court, commission, board or other government agency
relating to the Company, the Company’s business or the Membership Interests.

     2.19 Bank Accounts. Schedule 2.19 of the Company Disclosure Letter sets forth
a complete and accurate list of each deposit account or asset maintained with any bank, brokerage
house or other financial institution, specifying with respect to each, the name and address of the
institution, the name under which the account is maintained and the account number.

     2.20 Insurance Coverage. The Company maintains policies of insurance of the types and
in amounts providing protection for the Company consistent with sound business practices generally
applicable to businesses of the size and nature of the Company. Schedule 2.20 of the
Company Disclosure Letter sets forth a true and complete description of (i) all of the insurance
policies in force and effect in respect of the Company (the “Policies”); (ii) the coverage
and limits on the Policies; (iii) all current and open or known claims under any of the Policies;
and (iv) all written claims in excess of $50,000 individually or in the aggregate, made against the
Company during the past three years whether or not covered by insurance. None of the Saratoga

18

 

Sellers or the Company has received any notice of cancellation in respect of insurance
coverage under the Policies. All premiums due and payable in respect of the Policies have been
paid. Except as set forth on Schedule 2.20 of the Company Disclosure Letter, there are no
pending or, to the knowledge of the Saratoga Sellers or the Company, threatened terminations or
material premium increases with respect to any of the Policies and the Company is in compliance
with all conditions contained therein.

     2.21 No Brokers or Finders. Except as set forth on Schedule 2.21 of the
Company Disclosure Letter, no broker, finder or investment banker is entitled to any brokerage,
finder’s or similar fee or commission in connection with the transactions contemplated by this
Agreement based upon arrangements made by or on behalf of any of the Sellers or the Company. The
Company and Saratoga Sellers shall indemnify and hold Purchaser harmless from and against the
claims of all persons or entities who claim commissions through them for brokerage fees or
commissions or any other fees arising out of the transactions contemplated hereby.

     2.22 [Reserved]

     2.23 Product Warranty. Each of the products manufactured, sold, and delivered or
services provided by the Company have conformed in all material respects with all applicable
contractual commitments and all express and implied warranties, including all Service Level
Agreements, and the Company has no material liability (whether known or unknown, whether asserted
or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or
unliquidated, and whether due or to become due) for replacement thereof or other damages in
connection therewith, subject only to the reserve for product warranty claims set forth on the face
of the most recent balance sheet included in the Financial Statements (rather than in any notes
thereto) as adjusted for operations and transactions through the Closing Date in accordance with
the past custom and practice of the Company. Substantially all of the products manufactured, sold,
and delivered or services provided by the Company are subject to standard terms and conditions of
sale.

     2.24 Customers. Schedule 2.24 of the Company Disclosure Letter lists each of
the Company’s customers as of December 31, 2006 and March 31, 2007. The Company maintains good
relations with each of such customers and, except as set forth in Schedule 2.24 of the
Company Disclosure Letter, since April 30, 2007, to the Company’s and the Saratoga Sellers’
knowledge, no event has occurred that would materially adversely affect the Company’s relations
with such customers. To the best knowledge of the Sellers and the Company, since December 31,
2006, none of the top ten (10) customers (such rank determined by annual revenues received from
such customer) has decreased the amount of business that it does with the Company by more than ten
percent (10%).

     2.25 TWW Stock and Related Matters. Each of the Saratoga Sellers (a) has adequate
means of providing for his, her or its current needs and possible personal contingencies, and has
no need for liquidity in the TWW Stock, (b) has such knowledge and experience in financial matters
that he, she or it is capable of evaluating the relative risks and merits of an investment in TWW
Stock and has the requisite financial worth to qualify as an “Accredited Investor” as such term is
defined in Regulation D promulgated under the Securities Act of 1933 (as amended, the “1933
Act”), (c) has received and read and is familiar with the Terremark Documents (as defined

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below), (d) confirms that all documents, records and books pertaining to the acquisition of
the TWW Stock and requested by such Saratoga Seller have been made available or delivered to such
Saratoga Seller, (e) understands that the shares of TWW Stock have not been, and will not be,
registered under the 1933 Act, or any state securities laws, in reliance on exemptions from
registration thereunder for private offerings, and (f) further understands that he, she or it is
acquiring the TWW Stock without being furnished any information about Purchaser beyond that which
is contained in the Terremark Documents.

     2.26 Investment Intent; Restricted Securities.

     (1) Each Saratoga Seller who receives one or more shares of TWW Stock
represents and warrants that such TWW Stock is being acquired solely for such
Saratoga Seller’s own account, for investment, and is not being purchased with a
view to the resale or distribution thereof. No Saratoga Seller receiving shares of
TWW Stock has any present plan to enter into any contract, undertaking, agreement,
or arrangement contemplating the resale or disposition of any or all TWW Stock.

     (2) Each Saratoga Seller understands that the TWW Stock will be deemed to be
“restricted securities” under the 1933 Act, and cannot be resold absent registration
or an exemption therefrom. The Saratoga Sellers are aware of the provisions of Rule
144 promulgated under the 1933 Act which, in substance, permit public resale in the
United States of “restricted securities” subject to the satisfaction of certain
conditions, including, among other things: (i) the resale occurring not less than
one (1) year after the acquisition of the securities, (ii) the availability of
certain public information about the issuer, (iii) the sale being made through a
broker in an unsolicited “broker’s transaction” or a transaction directly with a
market maker, and (iv) the amount of securities being sold during any three (3)
month period not exceeding the specified limitations set forth in Rule 144.

     2.27 Disclosure. To the knowledge of the Saratoga Sellers, the representations and
warranties of the Company and the Saratoga Sellers contained in this Agreement and in any schedule,
certificate, or agreement furnished by the Saratoga Sellers or the Company to Purchaser pursuant to
this Agreement do not contain any untrue statement of a material fact or omit to state a material
fact necessary in order to make the statement herein or therein, in the light of the circumstances
under which they were made, not misleading.

ARTICLE IIA

REPRESENTATIONS AND WARRANTIES OF MANAGEMENT SELLERS

     Each of the Management Sellers, severally and not jointly, represent and warrant to Purchaser
and the Saratoga Sellers that, except as set forth in any of the sections or subsections of the
Company Disclosure Letter corresponding to the appropriate section or subsection of this Article
IIA, the following is true and correct as of the date hereof and as of the Closing Date:

     2.1A Membership Interests. Each Management Seller is the direct record and beneficial
owner of its respective Membership Interest set forth on Schedule 2.1A of the

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Company Disclosure Letter, free and clear of any Lien, and each Management Seller has the
right, power and authority to sell, transfer, convey and assign good, valid and indefeasible title
thereto, free and clear of any Liens, except for the rights and obligations arising under the
Operating Agreement.

     2.2A Company and Saratoga Sellers Representations. To the best knowledge of each
Management Seller, the representations and warranties of the Company and the Saratoga Sellers
contained in Article II hereof are true and correct.

     2.3A Authority Relative to this Agreement and Related Matters. Each Management Seller
has all necessary power and authority to enter into and to perform its obligations under the
Transaction Documents. The execution and delivery by the Management Sellers of the Transaction
Documents and the consummation by them of the transactions contemplated thereby have been duly
authorized by all necessary action on the part of the Management Sellers. The Transaction
Documents have been duly executed and delivered by the Management Sellers and, assuming the due
authorization, execution and delivery thereof by Purchaser and the Saratoga Sellers, constitute the
legal, valid and binding obligation of each of the Management Sellers, enforceable against each of
the Management Sellers in accordance with their terms.

     2.4A No Conflicts; Required Filings and Consents. The execution and delivery of the
Transaction Documents by such Management Seller does not, and neither the performance by such
Management Seller thereof nor the consummation by them of the transactions contemplated thereby
will (i) to the knowledge of such Management Seller, conflict with or violate any Legal
Requirements applicable to such Management Seller or by which such Management Seller’s respective
properties or assets is bound, (iii) except as could not reasonably be expected to result in a
material adverse effect, result in any breach of or constitute a default (or an event which with
notice or lapse of time or both would become a default) under, or give to others any rights of
termination or cancellation of, or result in the creation of a Lien on any of the properties or
assets of such Management Seller pursuant to, any note, bond, mortgage, indenture, contract,
agreement, lease or other instrument or obligation to which such Management Seller is a party or by
which such Management Seller or any of its respective properties or assets is bound, or (iv) to the
knowledge of such Management Seller, require such Management Seller to obtain any consent,
approval, authorization or permit of, or to make any filing with or notification to, any
Governmental Authority, except for filings, if any, required pursuant to the HSR Act, or any
material consent, approval, authorization or permit of any third party pursuant to contractual
obligation or applicable law.

     2.5A TWW Stock and Related Matters. Each of the Management Sellers (a) has adequate
means of providing for his, her or its current needs and possible personal contingencies, and has
no need for liquidity in the TWW Stock, (b) has such knowledge and experience in financial matters
that he, she or it is capable of evaluating the relative risks and merits of an investment in TWW
Stock and has the requisite financial worth to qualify as an “Accredited Investor” as such term is
defined in Regulation D promulgated under the 1933 Act (defined below), (c) has received and read
and is familiar with the Terremark Documents (as defined below), (d) confirms that all documents,
records and books pertaining to the acquisition of the TWW Stock and requested by such Management
Seller have been made available or delivered to such Saratoga Seller, (e) understands that the
shares of TWW Stock have not been, and will not

21

 

be, registered under the 1933 Act, or any state securities laws, in reliance on exemptions
from registration thereunder for private offerings, and (f) further understands that he, she or it
is acquiring the TWW Stock without being furnished any information about Purchaser beyond that
which is contained in the Terremark Documents.

     2.6A Investment Intent; Restricted Securities.

     (1) Each Management Seller who receives one or more shares of TWW Stock
represents and warrants that such TWW Stock is being acquired solely for such
Management Seller’s own account, for investment, and is not being purchased with a
view to the resale or distribution thereof. No Management Seller receiving shares
of TWW Stock has any present plan to enter into any contract, undertaking,
agreement, or arrangement contemplating the resale or disposition of any or all TWW
Stock.

     (2) Each Management Seller understands that the TWW Stock will be deemed to be
“restricted securities” under the 1933 Act, and cannot be resold absent registration
or an exemption therefrom. The Management Sellers are aware of the provisions of
Rule 144 promulgated under the 1933 Act which, in substance, permit public resale in
the United States of “restricted securities” subject to the satisfaction of certain
conditions, including, among other things: (i) the resale occurring not less than
one (1) year after the acquisition of the securities, (ii) the availability of
certain public information about the issuer, (iii) the sale being made through a
broker in an unsolicited “broker’s transaction” or a transaction directly with a
market maker, and (iv) the amount of securities being sold during any three (3)
month period not exceeding the specified limitations set forth in Rule 144.

     2.7A Disclosure. To the knowledge of the Management Sellers, the representations and
warranties of the Management Sellers contained in this Agreement and in any schedule, certificate,
or agreement furnished by the Management Sellers or the Company to Purchaser pursuant to this
Agreement do not contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statement herein or therein, in the light of the circumstances under
which they were made, not misleading.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF PURCHASER

     Purchaser represents and warrants to Sellers that, except as otherwise disclosed in the
Terremark Documents (as defined below), the following is true and correct as of the date hereof and
as of the Closing Date:

     3.1 Organization of the Purchaser. Purchaser is duly organized, validly existing, and
in good standing under the laws of Delaware and has full power and authority to conduct its
business.

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     3.2 Authorization. Purchaser has all necessary power and authority to execute,
deliver and perform the Transaction Documents and the other agreements and documents contemplated
thereby and has taken all necessary action to consummate the transactions contemplated thereby and
to perform its obligations thereunder. No further action on the part of the Purchaser is required
in connection with the execution, delivery and performance of the Transaction Documents. Purchaser
has duly executed and delivered the Transaction Documents and such Transaction Documents are the
valid and binding obligation of Purchaser, enforceable against it in accordance with their terms.

     3.3 No Conflict; Required Filings and Consents. The execution and delivery of the
Transaction Documents by Purchaser does not, and neither the performance by Purchaser thereof nor
the consummation by it of the transactions contemplated thereby will, (a) conflict with or violate
the organizational documents, as amended to date, of Purchaser, (b) conflict with or violate any
Legal Requirement applicable to Purchaser or by which Purchaser or any of its properties or assets
is bound, (c) result in any breach of or constitute a default (or an event which with notice or
lapse of time or both would become a default) under any note, bond, mortgage, indenture, contract,
agreement, lease or other instrument or obligation to which Purchaser is a party or by which
Purchaser or any of its properties or assets is bound (other than immaterial antidilution rights in
respect of creditors of the Purchaser), or (d) require Purchaser to obtain any consent, approval,
authorization or permit of, or to make any filing with or notification to, any Governmental
Authority, except for filings, if any, required pursuant to the HSR Act, or any material consent,
approval, authorization or permit of any third party pursuant to contractual obligation or
applicable law.

     3.4 Brokers. No broker, finder or investment banker is entitled to any brokerage,
finder’s or similar fee or commission in connection with the transactions contemplated by this
Agreement based upon arrangements made by or on behalf of Purchaser.

     3.5 SEC Reports.

     (1) The Purchaser has furnished to the Sellers true and complete copies of the
Proxy Statement related to Purchaser’s Annual Meeting of Shareholders held on
October 20, 2006, Purchaser’s Annual Report on Form 10-K for fiscal year ended March
31, 2006 and Purchaser’s Quarterly Reports on Form 10-Q for the quarters ended June
30, September 30 and December 31, 2006 and all of its other reports, statements,
schedules and registration statements, as such reports were filed with the
Securities and Exchange Commission (the “SEC”) since June 15, 2006
(collectively, the “Terremark Documents”).

     (2) As of its filing date (and as of the date of any amendment), each Terremark
Document complied as to form in all material respects with the applicable
requirements of the 1933 Act and the Securities Exchange Act of 1934 (as amended,
the “1934 Act”), as the case may be.

     (3) As of its filing date (or, if amended or superseded by a filing prior to
the date hereof, on the date of such filing), each Terremark Document filed pursuant
to the 1934 Act did not contain any untrue statement of a material fact or

23

 

omit to state any material fact necessary in order to make the statements made
therein, in the light of the circumstances under which they were made, not
misleading.

     (4) There are no outstanding loans or other extensions of credit made by
Purchaser to any executive officer (as defined in Rule 3b-7 under the 1934 Act) or
director of Purchaser. Purchaser has not, since the enactment of the Sarbanes-Oxley
Act, taken any action prohibited by Section 402 of the Sarbanes-Oxley Act.

     3.6 Acknowledgement of Access. Purchaser acknowledges that it has had full and
complete access to the books and records of the Company, certain employees and facilities owned and
leased by the Company, and all documents and instruments described or listed in any section of the
Company Disclosure Letter, and, furthermore, that Purchaser has conducted such due diligence
investigations of the Company, its assets and its operations, with the full cooperation of the
Company, as Purchaser has deemed necessary or advisable in connection with the transactions
contemplated by this Agreement.

     3.7 Validity of the TWW Stock. All shares of the TWW Stock, when issued in accordance
with and pursuant to the terms of this Agreement, will be duly authorized, validly issued, fully
paid and non-assessable, and will be issued free and clear of all preemptive rights or options or
other Liens created by or through the Purchaser.

     3.8 Absence of Certain Changes or Events. Except as disclosed in the Terremark
Documents, since the date of each applicable Terremark Document, (a) the Purchaser has operated its
business in the ordinary course of business consistent with past practice, (b) there has not been
any change effect or event, individually or in the aggregate, that is materially adverse to the
business, results of operations, assets, liabilities or financial condition of the Purchaser taken
as a whole (a “Purchaser Material Adverse Effect”), and (c) the Purchaser has not (i)
amended its articles of organization or by-laws, (ii) declared or set aside any dividends or made
any other distribution in cash with respect to shares of capital stock of the Purchaser which will
not be paid at or prior to Closing other than as contemplated by this Agreement or by the
Purchaser’s Series I Convertible Preferred Stock, par value $.001, (iii) declared or made any
distributions in securities or property with respect to shares of capital stock of the Purchaser
which will not be paid at or prior to Closing, (iv) issued any additional shares of stock or
issued, sold or granted any option or right to acquire, or otherwise disposed of, any of its
unissued shares of stock, other than grants of awards under the Purchaser’s 2005 Executive
Incentive Compensation Plan, (v) repurchased or redeemed any of its shares of stock, (vi) merged
into or with or consolidated with, any other corporation or acquired the business or assets of any
person, (vii) created, incurred, assumed, guaranteed or otherwise become liable or obligated with
respect to any Indebtedness in excess of $100,000 in the aggregate, or made any loan or advance to,
or any investment in, any person in excess of $100,000 in the aggregate, except in each case in the
ordinary course of business consistent with past practices, (viii) entered into, amended or
terminated any agreement which is required to be filed with the SEC pursuant to Section 10 of Item
601 of Regulation S-K promulgated under the 1933 Act, (ix) sold, transferred, leased, mortgaged,
encumbered or otherwise disposed of, or agreed to sell, transfer, lease, mortgage, encumber or
otherwise dispose of, any properties or assets in excess of $100,000 except

24

 

inventory sold in the ordinary course of business, (x) settled any claim or litigation, or
filed any motions, orders, briefs or settlement agreements in any proceeding before any
Governmental Authority or any arbitrator, (xi) incurred or approved, or entered into any agreement
or commitment to make, any expenditure in excess of $100,000 in the aggregate (other than in the
ordinary course of business consistent with past practices), (xii) suffered any loss of property or
waived any right, in each case of a value in excess of $100,000, whether or not in the ordinary
course of business, (xiii) abandoned, withdrawn, allowed to become abandoned, withdrawn or expired,
or otherwise relinquished any material right or filing relating to any Intellectual Property (as
defined in Section 2.17) or a value in excess of $100,000, (xiv) had any litigation or claim in
respect of Taxes or environmental liability, in each case of a value in excess of $100,000,
instituted or threatened against it or (xv) made any agreement or commitment to do any act
described in (i)-(xiv) above.

     3.9 Private Placement. The conveyance of the TWW Stock in the manner contemplated by
this Agreement will be exempt from the registration requirements of the 1933 Act by reason of
Section 4(2) thereof.

     3.10 Investment Company. The Purchaser is not an “investment company” as defined in,
or subject to regulation under, the Investment Company Act of 1940, as amended.

     3.11 Registration Rights. Except for the registration rights granted pursuant to the
Registration Rights Agreement, there are no contracts, agreements or understandings between the
Purchaser and any person granting such person the right to require the Purchaser to file a
registration statement under the 1933 Act with respect to any securities of the Purchaser.

     3.12 Solvency. Immediately following the Closing, after giving effect to the
transactions contemplated hereby, Purchaser will not (a) be insolvent (either because its financial
condition is such that the sum of its debts is greater than the fair market value of its assets or
because the fair saleable value of its assets is less than the amount required to pay its probable
liability on its existing debts as they mature); (b) have unreasonably small capital with which to
engage in its business; or (c) have incurred debts beyond its ability to pay them as they become
due.

     3.13 Disclosure. To the knowledge of the Purchaser, the representations and
warranties of the Purchaser contained in this Agreement and in any schedule, certificate, or
agreement furnished by the Purchaser pursuant to this Agreement do not contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statement herein
or therein, in the light of the circumstances under which they were made, not misleading.

ARTICLE IV

AFFIRMATIVE AND RESTRICTIVE COVENANTS

     4.1 Pre-Closing Covenants.

     (1) General. Subject to the terms and conditions of this Agreement,
the Sellers will use commercially reasonable efforts to take all action and to do
all

25

 

things necessary, proper or advisable in order to consummate and make effective
the transactions contemplated by this Agreement, including, without limitation, (i)
obtaining all permits, authorizations, consents and approvals of any person which
are required for or in connection with the consummation of the transactions
contemplated hereby, and (ii) executing and delivering all agreements and documents
required by the terms hereof to be executed and delivered by the Sellers and the
Company on or prior to the Closing.

     (2) Accounts and Reports. The Company will maintain a system of
accounts in accordance with GAAP and will keep full and complete financial records
consistent with past practice.

     (3) Compliance with Laws, Etc. The Company will comply with all
applicable laws, rules, regulations and orders of any Governmental Authority.

     (4) Payment of Taxes. The Company will pay and discharge when due all
taxes, assessments and governmental charges or levies imposed upon it or upon its
income or profits, or upon any properties belonging to it, prior to the date on
which interest or penalties attach thereto, and all lawful claims which, if not paid
when due, might become a Lien or charge upon any properties of the Company,
provided that the Company shall not be required to pay any such tax,
assessment, charge, levy or claim which is being contested in good faith and by
proper proceedings if the Company shall have set aside on its books adequate
reserves with respect thereto.

     (5) Operation of the Business. Between the date of this Agreement and the
Closing, unless Sellers and the Company receive the prior written consent of
Purchaser to do otherwise, the Company shall, and the Sellers shall cause the
Company and the Company’s subsidiaries to:

(a) operate the Company’s business only in the ordinary course of business
consistent with past practice;

(b) use their commercially reasonable efforts to preserve intact the Company’s
current business organization, keep available the services of its officers,
employees and agents and maintain its relations and good will with suppliers,
customers, landlords, creditors, employees, agents and others having business
relationships with it;

(c) confer with Purchaser prior to implementing operational decisions outside
the normal course of business of a material nature;

(d) otherwise make available to Purchaser the status of the Company’s business
and its operations and finances;

(e) make no material changes in management personnel;

26

 

(f) maintain the assets of the Company in a state of repair and condition that
complies with all applicable legal requirements and is consistent with the
requirements and normal operation of the Company’s business;

(g) keep in full force and effect, without amendment, all material rights
relating to the Company’s business;

(h) comply with all applicable legal requirements and contractual obligations
applicable to the operation of the Company’s business;

(i) continue in full force and effect the insurance coverage under the policies
set forth on Schedule 2.20 or substantially equivalent policies;

(j) cooperate with Purchaser and assist Purchaser in identifying, retaining or
obtaining the Governmental Authorizations required for Purchaser to operate the
Company’s business from and after the Closing Date;

(k) refrain from adopting or proposing any change in the charters, by-laws or
other organizational of the Company or the Company’s subsidiaries, except as
contemplated by this Agreement;

(l) refrain from adopting a plan or agreement of complete or partial
liquidation, dissolution, merger, consolidation, restructuring, recapitalization or
other reorganization of the Company or any of the Company’s subsidiaries (other than
transactions between direct and/or indirect wholly owned subsidiaries of the
Company);

(m) refrain from effecting any issuance, sale, transfer, pledge, disposition of
or encumbrance of any shares of, or securities convertible into or exchangeable for,
or options, warrants, calls, commitments or rights of any kind to acquire, any
            shares of capital stock of any class or series of the Company or any of its
subsidiaries;

(n) refrain from effecting any (i) split, combination, subdivision or
reclassification of the outstanding shares of capital stock of the Company or the
Company’s subsidiaries, or (ii) declare, set aside or pay any dividend or other
distribution payable in cash, stock or property with respect to the capital stock of
the Company or the Company’s subsidiaries, except as contemplated by this Agreement;

(o) refrain from amending the terms (including the terms relating to
accelerating the vesting or lapse of repurchase rights or obligations) of any
employee or manager/director membership interest options or other membership
interest based awards;

(p) refrain from (i) granting any severance or termination pay to (or amend any
such existing arrangement with) any director, manager, officer or employee of the
Company or any of its subsidiaries, (ii) enter into any employment, deferred

27

 

compensation or other similar agreement (or any amendment to any such existing
agreement) with any director, manager, officer or employee of the Company or any of
its subsidiaries, (iii) materially increase any benefits payable under any existing
severance or termination pay policies or employment agreements, (iv) materially
increase any compensation, bonus or other benefits payable to directors, managers,
officers or employees of the Company or any of its subsidiaries or (v) permit any
director, manager, officer or employee who is not already a party to an agreement or
a participant in a plan providing benefits upon or following a “change of control”
to become a party to any such agreement or a participant in any such plan, other
than pursuant to a pre-existing contractual commitment, as required by applicable
law, or in the ordinary course of business consistent with past practice;

(q) refrain from acquiring a material amount of assets or property of any other
person except in the ordinary course of business consistent with past practice or
incur any additional indebtedness;

(r) refrain from selling, leasing, licensing or otherwise disposing of any
material amount of assets or property of the Company or the Company’s subsidiaries
except pursuant to existing contracts or commitments and except in the ordinary
course of business consistent with past practice;

(s) refrain from entering into any material joint venture, partnership or other
similar arrangement;

(t) refrain from making any election with respect to Taxes or settle any
material claim with respect to Taxes which, in each case, could reasonably be
expected to have a Company Material Adverse Effect on the Company and its
subsidiaries;

(u) maintain all books and records of the Company relating to the Company’s
business in the ordinary course of business consistent with past practice;

(v) except for any such change which is not material or which is required by
reason of a concurrent change in GAAP, refrain from changing any method of
accounting or accounting practice used by it;

(w) upon request from time to time, execute and deliver all documents, make all
truthful oaths, testify in any proceedings and do all other acts that may be
reasonably necessary or desirable in the opinion of Purchaser to consummate the
transactions contemplated hereby, all without further consideration; and

(x) refrain from agreeing or committing to do any of the foregoing.

     (6) Negative Covenant. Except as otherwise expressly permitted herein, between
the date of this Agreement and the Closing Date, Sellers and the Company shall not,
without the prior written Consent of Purchaser, (a) take any affirmative action, or
fail to take any reasonable action within its control, as a result of which any of
the changes or events listed in Sections 2. would be likely to

28

 

occur; (b) make any modification to any Material Contract or Governmental
Authorization; or (c) enter into any compromise or settlement of any litigation,
proceeding or governmental investigation relating to the Membership Interests or the
assets or business of the Company.

     (7) Notification. Between the date of this Agreement and the Closing,
Sellers and the Company shall promptly notify Purchaser in writing if it becomes
aware of (a) any fact or condition that causes or constitutes a breach of any of
Sellers’ representations and warranties made as of the date of this Agreement or (b)
the occurrence after the date of this Agreement of any fact or condition that would
or be reasonably likely to (except as expressly contemplated by this Agreement)
cause or constitute a breach of any such representation or warranty had that
representation or warranty been made as of the time of the occurrence of, or
Sellers’ discovery of, such fact or condition. During the same period, Sellers and
the Company also shall promptly notify Purchaser of the occurrence of any breach of
any covenant of Sellers or the Company in this Agreement or of the occurrence of any
event that may make the satisfaction of the conditions in Article VI
impossible or unlikely. The Sellers and the Company shall promptly notify the
Purchaser if any of them (i) engages in any transaction which would reasonably be
expected to have a Company Material Adverse Effect, (ii) incurs any debt on behalf
of the Company for borrowed money (other than trade debt in the ordinary course) or
(iii) enters into any agreements or transactions on behalf of the Company not in the
ordinary course of business.

     (8) General Restrictions. Except as otherwise expressly permitted in
or contemplated by this Agreement, without the prior written consent of the
Purchaser, the Company will not, and the Sellers will not permit the Company to take
any of the actions set forth in Section 2.7.

     (9) Supplementary Financial Information. Within fifteen (15) days
after the end of each calendar month between the date of this Agreement and the
Closing Date, the Company shall provide to Purchaser unaudited financial statements
(including at the minimum income statement and balance sheet) for such month then
ended that shall present fairly the results of the operations of the Company at such
date and for the period covered thereby, all in accordance with GAAP applied on a
basis consistent with prior periods, in each case, certified as true and correct by
the chief financial officer of the Company.

     (10) Exclusivity. Each of the Sellers and the Company will not, and
will cause its respective directors, officers, employees, financial advisors, legal
counsel, accountants and other agents and representatives not to initiate, solicit
or encourage, directly or indirectly, or take any other action to facilitate any
inquiries or the making of any proposal with respect to, engage or participate in
negotiations concerning, provide any nonpublic information or data to or have any
discussions with any person other than the Purchaser relating to, any acquisition,
exchange offer, merger, consolidation, acquisition of beneficial ownership of or the
right to vote securities of the Company, dissolution, business combination, pur

29

 

chase of all or any significant portion of the assets or any division of, or
any equity interest in, the Company, or any similar transaction, other than the
transactions contemplated under this Agreement (such proposals, disclosures,
negotiations, or transactions being referred to as “Acquisition Proposals”).
The Sellers and the Company will notify the Purchaser within 24 hours orally and
within 48 hours in writing if any such Acquisition Proposal (including terms thereof
and identity of persons making such proposal) is received and furnish to the
Purchaser a copy of any such written proposal.

     (11) DigitalOps, LLC. Sellers shall dissolve DigialOps, LLC, the
Company’s wholly-owned subsidiary, upon request by Purchaser. Prior to such time,
Sellers shall not and shall not permit the Company or any of its subsidiaries to
conduct any operations, acquire any assets, incur any liabilities or enter into any
contract using DigitalOps, LLC.

     (12) Duration of Covenants. The provisions of this Section 4.1
shall remain in effect until the earlier of (x) the date this Agreement is
terminated pursuant to Article VIII and (y) the Closing Date.

     4.2 Post-Closing Covenants.

     (1) Securities Law Compliance. During the period that the Sellers hold
any shares of TWW Stock and such shares are eligible to be sold under Rule 144 under
the 1933 Act, the Purchaser will use commercially reasonable efforts to timely file
such periodic reports as are required by Section 13 of the 1934 Act to be filed by
it, so that the Sellers will have access to sufficient public information concerning
the Purchaser to enable the Sellers to sell the shares of TWW Stock in compliance
with Rule 144; provided, however, the Purchaser shall have no further obligation
under this Section 4.2 at such time as the Purchaser Shares may be sold by
the Sellers pursuant to Rule 144(k) under the 1933 Act.

     (2) Listing. Purchaser shall use its reasonable best efforts to
arrange for the TWW Stock to be approved for listing on the NASDAQ Global Market as
soon as practicable following Closing.

     (3) Non-Disparagement. During the Term, Sellers will not disparage the
Company or Purchaser or any affiliate of the Company or Purchaser, and neither the
Company nor Purchaser will disparage Sellers.

     (4) Confidential Information. Sellers acknowledge the confidential and
proprietary nature of the information relating to the Company or the assets or
business of the Company and any information provided to the Company or Sellers by
the Company or obtained or learned by Sellers during the Term of this Agreement,
including without limitation any trade secrets, customer lists, methods of doing
business, manufacturing and distribution arrangements, sales and marketing
information and strategy, MIS systems, software, formulae, product information,

30

 

financial information, personnel, competitive factors and advantages, books,
records and other information, and agrees that during the term of this Agreement and
after the Closing, such information (i) shall be kept confidential by Sellers and
(ii) shall not be used or disclosed by Sellers to any person, except in each case as
otherwise expressly permitted by the terms of this Agreement or with the prior
written consent of an authorized representative of the Company. The restriction
shall not apply to any information that is (i) publicly available other than because
of disclosure by Sellers or any of Sellers’ Affiliates, (ii) received from a third
party authorized by Purchaser to make public disclosure, or (iii) disclosed only to
the extent required by applicable law, provided that if required by law, Sellers
will use reasonable best efforts to provide the Company with sufficient advance
written notice and information to object to or challenge any such disclosure.

     (5) Non-Solicitation. During the period ending three (3) years from the
Closing Date (the “Term”), neither Sellers nor any affiliate of Sellers shall cause,
induce or attempt to cause or induce any customer, supplier, licensee, licensor,
franchisee, employee, consultant or other business relation of the Company (a
“Business Relation”) to cease doing business with the Company or Purchaser,
to deal with any competitor of the Company or in any way interfere with such
Business Relation’s relationship with the Company or Purchaser.

     (6) Affiliates. Sellers shall at all times cause Sellers’ Affiliates to
comply with paragraphs (3) and (4) of this Section 4.2. For purposes hereof,
an “Affiliate” of a person shall mean persons who, directly or indirectly,
through one or more intermediaries, control, are controlled by or are under common
control with, including, without limitation, directors, officers, employees, agents
or subsidiaries of such person.

     (7) Enforcement.

     (a) If the scope of any restriction or part thereof contained in this
Agreement is too broad to permit enforcement of such restriction or part
thereof to its full extent, then such restriction or part thereof shall be
enforced to the maximum reasonable extent, and in that event Sellers hereby
consent that such scope may be modified accordingly in any proceeding
involving the enforcement of such restriction or part thereof. If, after
giving effect to all such permitted modifications of any such restriction or
part thereof, such restriction or part thereof remains unenforceable, then
the remainder of this Agreement shall be enforced without such restriction
or part thereof, and in that event, each of the parties hereto hereby
consents that this Agreement may be modified accordingly in any proceeding
involving the enforcement of this Agreement.

     (b) Sellers hereby acknowledge and confirm that (a) the business of the
Company extends throughout the world, and that, upon and after the Closing,
any activity prohibited by Section 4.3, at any place in the Area,
would cause irreparable injury to the Company, (b) the restrictive

31

 

covenants contained in Section 4.3 are reasonably necessary to
protect the legitimate business interests of the Company, and (c) the
restrictions contained in Section 4.3 (including without limitation
the length of the Term of such provisions) are not overbroad, overlong, or
unfair and are not the result of overreaching, duress or coercion of any
kind. Sellers further acknowledge and confirm that Sellers’ full,
uninhibited and faithful observance of each of the covenants contained in
this Section 4.3 will not cause them any undue hardship, financial
or otherwise, and that enforcement of each of the covenants contained herein
will not impair their ability to obtain employment commensurate with their
abilities and on terms fully acceptable to them or otherwise to obtain
income required for the comfortable support of them and their families and
the satisfaction of the needs of their creditors.

     (c) Sellers hereby acknowledge and confirm that the remedy at law for
any breach of Sellers’ obligations under Section 4.3 would be
inadequate, and that damages would be difficult or impossible to ascertain,
and consents that temporary and permanent prohibitive or injunctive relief
may be granted in any proceeding involving the enforcement of any provision
of such Sections.

ARTICLE V

CONDITIONS TO SELLERS’ OBLIGATION TO CLOSE

     The obligation of the Sellers to sell the Membership Interests to Purchaser under this
Agreement is subject to the satisfaction on or before the Closing Date of the following conditions,
any of which may be waived in whole or in part only by the Sellers:

     5.1 Due Performance. Purchaser shall have performed and complied in all material
respects with all agreements and conditions required by this Agreement to be performed or complied
with by Purchaser as of the Closing Date.

     5.2 Accuracy of Representations and Warranties. All representations and warranties of
Purchaser set forth in this Agreement shall be true and correct in all material respects on and as
of the Closing Date.

     5.3 Closing Deliveries. Purchaser shall have delivered or caused to be delivered to
the Sellers all of the following:

     (a) the Closing Seller Wires;

     (b) the Stock Deliveries;

     (c) a customary legal opinion of Purchaser’s counsel, in form and substance and
reasonably acceptable to the Sellers and their counsel;

32

 

     (d) a registration rights agreement, substantially in the form of Exhibit A
(the “Registration Rights Agreement”);

     (e) a certificate, dated as of the Closing Date, signed by an officer of Purchaser, as
to the satisfaction of the conditions in Sections 5.1 and 5.2;

     (f) a copy of the resolutions of the board of directors of Purchaser authorizing the
execution, delivery and performance of this Agreement; and

     (g) such other certificates and other instruments and documents required to be
delivered by Sellers in connection with the transactions contemplated hereby.

     5.4 HSR Act. Any waiting period (and any extension thereof) under the HSR Act
applicable to the transactions to be consummated at the Closing shall have expired or been
terminated.

     5.5 Governmental Authorities; No Litigation. No Governmental Authority or court of
competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute,
rule, regulation, injunction or other order (whether temporary, preliminary or permanent) which is
in effect and has the effect of making the transactions contemplated by this Agreement or the
Closing illegal or otherwise restraining or prohibiting consummation of such transactions, and no
legal proceeding shall be pending or threatened wherein an unfavorable judgment, order, decree,
stipulation or injunction would (i) prevent consummation of any of the transactions contemplated by
this Agreement, (ii) cause any of the transactions contemplated by this Agreement to be rescinded
following consummation, or (iii) have a Company Material Adverse Effect, and no such judgment,
order, decree, stipulation or injunction shall be in effect.

     5.6 Consents. The Purchaser shall have received the authorizations, orders, approvals
and consents of Governmental Authorities required to be obtained by it prior to Closing.

ARTICLE VI

CONDITIONS TO PURCHASER’S OBLIGATION TO CLOSE

     The obligation of Purchaser to purchase the Membership Interests from Sellers under this
Agreement is subject to the satisfaction on or before the Closing Date of the following conditions,
any of which may be waived in whole or in part only by Purchaser:

     6.1 Due Performance. Each Seller shall have performed and complied in all material
respects with all agreements and conditions required by this Agreement to be performed or complied
with by any of them as of the Closing Date. In no event shall Purchaser have an obligation to
purchase less than 100% of the Membership Interests.

     6.2 Accuracy of Representations and Warranties. All representations and warranties of
each Seller set forth in this Agreement shall be true and correct in all material respects on and
as of the Closing Date.

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     6.3 Closing Deliveries. Each Seller shall have delivered or caused to have been
delivered to the Purchaser all of the following:

     (1) a cross receipt or other transfer instrument to the satisfaction of
Purchaser evidencing the transfer of the Membership Interests;

     (2) a receipt for the Purchase Consideration;

     (3) a certificate, dated as of the Closing Date, signed by an officer of Seller
Representative, as to the satisfaction of the conditions in Sections 6.1 and 6.2;

     (4) a copy of the resolutions of the board of managers of the Company
authorizing the execution, delivery and performance of this Agreement;

     (5) a customary legal opinion of Company’s counsel, in form and substance and
reasonably acceptable to Purchaser and its counsel; and

     (6) such other certificates and other instruments and documents required to
delivered by Sellers in connection with the transactions contemplated hereby.

     6.4 HSR Act. Any waiting period (and any extension thereof) under the HSR Act
applicable to the transactions to be consummated at the Closing shall have expired or been
terminated.

     6.5 Governmental Authorities; No Litigation. No Governmental Authority or court of
competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute,
rule, regulation, injunction or other order (whether temporary, preliminary or permanent) which is
in effect and has the effect of making the transactions contemplated by this Agreement or the
Closing illegal or otherwise restraining or prohibiting consummation of such transactions, and no
legal proceeding shall be pending or threatened wherein an unfavorable judgment, order, decree,
stipulation or injunction would (i) prevent consummation of any of the transactions contemplated by
this Agreement, (ii) cause any of the transactions contemplated by this Agreement to be rescinded
following consummation, or (iii) have a Company Material Adverse Effect, and no such judgment,
order, decree, stipulation or injunction shall be in effect.

     6.6 Satisfaction of Indebtedness. Purchaser shall have received evidence reasonably
satisfactory to it that Sellers’ obligations under Section 1.7 hereof has been satisfied.

     6.7 No Company Material Adverse Effect. Since the date of the Financial Statements,
there shall have been no occurrence of any event that would have a Company Material Adverse Effect,
and the Purchaser shall have received a certificate signed by an officer of Seller Representative
to such effect (which certificate, for the avoidance of doubt, may be the same as that called for
under Section 6.3(4)).

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ARTICLE VII

INDEMNIFICATION AND RELEASE

     7.1 Indemnification of Purchaser.

     (a) The Saratoga Sellers agree that, from and after the Closing, they shall jointly and
severally indemnify and hold harmless Purchaser, its officers, directors, employees,
shareholders, agents, successors and assigns (any party entitled to be indemnified under
this Article VII shall be referred to as an “Indemnified Party,” and any party
obligated to provide indemnification under this Article VII shall be referred to as an
“Indemnifying Party”) against any damages, claims, deficiencies, awards,
settlements, losses, liabilities, actions or causes of action, assessments, judgments,
fines, penalties, suits, proceedings and costs and expenses (including, without limitation,
reasonable accounting and attorneys’ fees and expenses) (each, a “Loss,” and
collectively, “Losses”) arising out of or resulting from (i) any breach of any
representation or warranty of the Saratoga Sellers or the Company contained in Article II or
Section 7.6 hereof or (ii) any breach of any covenant or other agreement of the Company or
the Saratoga Sellers contained in this Agreement; provided, however, that
the foregoing obligations of the Saratoga Sellers are subject to the applicable limitations
set forth in Section 7.4 hereof.

     (b) The Management Sellers agree that, from and after the Closing, they shall severally
and not jointly indemnify and hold harmless Purchaser, its officers, directors, employees,
shareholders, agents, successors and assigns against any Losses arising out of (i) any
breach of any representation or warranty of such Management Seller contained in Article IIA
hereof or (ii) any breach of any covenant or other agreement of the such Management Seller
contained in this Agreement; provided, however, that the foregoing
obligations of such Management Sellers are subject to the applicable limitations set forth
in Section 7.4 hereof.

     (c) The Escrow Amount shall be available to indemnify Purchasers with respect to any
Loss arising out of or resulting from any breach of any representation or warranty of the
Saratoga Sellers or the Company contained in Sections 2.14 or 2.15 hereof. To the extent
Purchaser desires to submit a claim for indemnification pursuant to this Section 7.1(c),
Purchaser shall give written notice of such claim to the Sellers’ Representative (a
“Notice of Claim”). The Sellers’ Representative, on behalf of the Sellers, shall be
given a 30-day period in which to investigate the claim and during such period shall have
reasonable access to any documentation related to the matter which is the subject of such
Notice of Claim provided that any such documentation shall be subject to the confidentiality
provisions of Section 5.13 hereof. Any Notice of Claim shall specify in reasonable detail
the nature of any claim so asserted and the basis thereof. The amount claimed by Purchaser
pursuant to the Notice of Claim shall become final and binding upon Sellers on the earlier
of (i) 30 days after delivery by Purchaser to Sellers’ Representative of such Notice of
Claim to the extent Sellers fail to dispute the matters set forth therein; (ii) the date the
parties hereto resolve in writing any differences they have with respect to any matter
specified in such Notice of Claim, or (iii) the date any matters properly in dispute are
finally resolved pursuant to Section 9.8 hereof. To the extent the

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Sellers’ Representative disputes in writing during the thirty (30) days immediately
following the delivery of a Notice of Claim any matter set forth therein, the Sellers’
Representative, on behalf of the Sellers, and Purchaser shall seek in good faith to resolve
in writing any such differences. At the end of such 30-day period, the parties shall obtain
a final resolution to such disputes using the dispute resolution mechanisms set forth in
Section 9.8 hereof. Interest earned on the Escrow Amount, if any, shall be paid to the
parties pro rata based on the amount of principal such party shall receive from the Escrow
Amount. The parties agree to execute any joint written instruction letter or other
authorization necessary to direct the escrow agent to release funds from the Escrow Amount
in accordance with the terms of this Section 4.2(4) and the Escrow Agreement.

     7.2 Indemnification of Sellers. Purchaser agrees that, from and after the Closing, it
shall indemnify and hold harmless Sellers, the Company, their officers, directors, employees,
shareholders, agents, successors and assigns, against any Losses arising out of (a) any breach of
any representation or warranty of Purchaser contained in Article III hereof or (b) any breach of
any covenant or other agreement of Purchaser contained in this Agreement; provided,
however, that the foregoing obligation of Purchaser is subject to the applicable
limitations set forth in Section 7.4.

     7.3 Procedures for Indemnification for Third Party Claims. The obligations and
liabilities of the parties under this Agreement with respect to claims of third parties
(individually, a “Third Party Claim” and collectively, the “Third Party Claims”)
shall be subject to the following terms and conditions:

     (a) the Indemnified Party shall give the Indemnifying Party prompt notice of any Third
Party Claim, and the Indemnifying Party may undertake the defense of that claim by
representatives chosen by it reasonably satisfactory to the Indemnified Party;
provided, however, that at the time of the assumption of defense the
Indemnifying Party shall acknowledge in writing its obligation to indemnify as provided
herein, the majority amount of Loss in question must be covered after taking account of the
limitations set forth in Section 7.4 and the Indemnifying Party must reimburse the
Indemnified Party for its reasonable out-of-pocket expenses incurred prior to the assumption
of defense by the Indemnifying Party. Any such notice of a Third Party Claim shall identify
with reasonable specificity (to the extent known at the time) the basis for the Third Party
Claim, the facts giving rise to the Third Party Claim and the amount of the Third Party
Claim (or, if such amount is not yet known, a reasonable estimate, if possible, of the
amount of the Third Party Claim). Failure of the Indemnified Party to give prompt notice
shall not relieve the Indemnifying Party of its obligation to indemnify, except to the
extent that the Indemnifying Party is materially prejudiced by the delay in giving notice;

     (b) if the Indemnifying Party exercises its right to undertake the defense of any Third
Party Claim, the Indemnified Party shall cooperate with the Indemnifying Party in such
defense and make available to the Indemnifying Party all witnesses, pertinent records,
materials and information in the Indemnified Party’s possession or under its control
relating thereto as is reasonably required by the Indemnifying Party;

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     (c) if (i) the Indemnifying Party, within 30 days after notice of any such Third Party
Claim, fails to assume the defense in accordance with Section 7.3(a) of this Agreement, (ii)
the Indemnifying Party does not conduct such defense actively and diligently in the
reasonable discretion of the Indemnified Party or (iii) there is a conflict of interest
between the positions of the Indemnifying Party and the Indemnified Party in conducting the
defense of such claim as determined by the ABA Model Rules of Professional Conduct, the
Indemnified Party shall (upon further notice to the Indemnifying Party) have the right to
undertake the defense, compromise or settlement of the Third Party Claim using
representatives chosen by it and reasonably acceptable to the Indemnifying Party, and the
Indemnifying Party shall reimburse the Indemnified Party for all of its costs and expenses
in conducting such defense and cooperate with the Indemnified Party in such defense and make
available to the Indemnified Party all witnesses, pertinent records, materials and
information in the Indemnifying Party’s possession or under its control relating thereto as
is reasonably required by the Indemnified Party; and

     (d) notwithstanding anything in this Section 7.3 to the contrary, the party controlling
the defense shall not, without the written consent of the other party subject to liability,
settle or compromise any Third Party Claim or consent to the entry of judgment which (x)
does not include as an unconditional term thereof the giving by the claimant or the
plaintiff to the Indemnified Party of an unconditional release from all liability in respect
of the Third Party Claim, (y) includes any equitable relief against the Indemnified Party or
(z) includes any admission of guilt or liability by the Indemnified Party.

     7.4 Indemnification Deductibles and Caps.

     (a) Deductibles. No indemnification under Section 7.1 shall be required unless
the aggregate amount of Losses exceeds one hundred thousand Dollars ($100,000) (the
“Aggregate Threshold Amount”), at which time the Indemnifying Party shall be
responsible for any Losses incurred in excess of such Aggregate Threshold Amount.

     (b) Overall Limitation. In no event whatsoever shall Purchaser’s recourse with
respect to Losses under Section 7.1 exceed in the aggregate an amount equal to ten million
Dollars ($10,000,000) subject to the limitations set forth in Section 7.4(a) and Section
7.4(d) herein; provided, that the foregoing limitations set forth in Sections 7.4
(a) and (b) shall not apply to breaches of the representations in Sections 2.1, 2.13, 2.15,
2.21, 3.4 and 3.7. For the avoidance of doubt, the Escrow Amount shall only relate to
Sellers’ indemnification obligations set forth in Section 7.1(c) hereof and Purchaser shall
not have recourse against the Escrow Amount in connection with any other Losses.

     (c) Time Limits On Indemnification. No claim on account of breach of
representation, warranty or covenant shall be made after the expiration of the survival
periods referred to in Section 8.1 of this Agreement. Claims made prior to the expiration
of the survival periods shall continue until satisfied or otherwise resolved.

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     (d) Net Recovery. The amount which an Indemnified Party shall be entitled to
receive from an Indemnifying Party under this Article VII with respect to a Loss shall be
net of any recovery actually received by such Indemnified Party from third parties with
respect to such Losses (including insurance proceeds, counterclaims, subrogation actions and
the like).

     (e) Tax Benefits. In case any event shall occur that would otherwise entitle
any party to assert a claim for indemnification hereunder, no Loss shall be deemed to have
been sustained by such party to the extent of any net Tax benefit realized by such party
with respect thereto. The parties agree to treat all indemnification payments as
adjustments to the Purchase Consideration and not as income and to report any such payments
as adjustments to the Purchase Consideration for tax purposes; however if any such payments
are ultimately determined to be income, then such payments with respect to such Loss shall
take into account any adverse tax consequence.

     7.5 Exclusive Remedy. The remedies in this Article VII shall be the exclusive
remedies of the parties with respect to the matters covered by Sections 7.1 and 7.2, absent fraud.
Notwithstanding anything contained herein to the contrary, an Indemnified Party shall not be
entitled to indemnification for those portions of any Losses constituting incidental, indirect,
consequential or special damages, including, without limitation, damages arising from loss of use,
loss of profit or income, or punitive damages nor shall a party be entitled to indemnification with
respect to any Loss if such party was advised, in a writing explicitly stating that such disclosure
is made pursuant to this Section 7.5, of the inaccuracy, non-performance or breach giving rise to
such Loss at the time of Closing.

     7.6 Financial Capacity. The Saratoga Sellers hereby represent and warrant that they
have sufficient financial capacity, including net book value and working capital to satisfy all of
the indemnification obligations set forth in Article VII hereof. Specifically, the Saratoga
Sellers hereby represent and warrant that they have net book value in excess of $50,000,000 in the
aggregate.

     7.7 Mitigation. To the extent any action would not result in an adverse effect on a
party hereto or the operations of the Company, the parties shall use commercially reasonable
efforts to mitigate or resolve any Loss.

ARTICLE VIII

TERMINATION

     8.1 Termination. This Agreement may be terminated at any time prior to the Closing:

     (a) by mutual written consent of Purchaser and Sellers;

     (b) by either Purchaser or Sellers, if the purchase of interests contemplated by and
pursuant to this Agreement shall not have been consummated by the date that is forty-five
(45) days from the date hereof (the “Termination Date”); provided,
however, that the right to terminate this Agreement under this Section 8.1(b) shall
not be available to any party whose failure to fulfill any obligation under this Agreement
has been the

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     cause of or resulted in the failure of the Interest Purchase to occur on or before the
Termination Date;

     (c) by either Purchaser or Sellers, if any Governmental Authority shall have issued an
order, decree or ruling or taken any other action (which order, decree, ruling or action the
parties hereto shall use their reasonable efforts to lift), in each case permanently
restraining, enjoining or otherwise prohibiting the Interest Purchase, and such order,
decree, ruling or action shall have become final and non-appealable;

     (d) by Purchaser, if there has been any material inaccuracy in or breach of any of
Sellers’ representations or warranties set forth in Articles II or IIA hereof, or Sellers
shall have breached or failed to perform any of the covenants or other agreements contained
in this Agreement in any material respect, in each case such that the conditions set forth
in Article V hereof are not capable of being satisfied on or before the Termination Date;
provided, however, that before Purchaser may terminate this Agreement under
this Section 8.1(4), it shall deliver written notice to Sellers specifying such breach in
reasonable detail (to the extent known) and, if such breach is capable of cure within a
20-day period, shall give Sellers a period of 20 days following receipt of such notice in
which to cure such breach, regardless of whether such 20-day period extends beyond the
Termination Date; or

     (e) by Sellers, if there has been any material inaccuracy in or breach of any of
Purchaser’s representations or warranties set forth in Article III hereof, or Purchaser
shall have breached or failed to perform any of its covenants or other agreements contained
in this Agreement in any material respect, in each case such that the conditions set forth
in Article V and VI hereof are not capable of being satisfied on or before the Termination
Date; provided, however, that before Sellers may terminate this Agreement
under this Section 8.1(5), they shall deliver written notice to Purchaser specifying such
breach in reasonable detail (to the extent known) and, if such breach is capable of cure
within a 20-day period, shall give Purchaser a period of 20 days following receipt of such
notice in which to cure such breach, regardless of whether such 20-day period extends beyond
the Termination Date.

     8.2 Effect of Termination. In the event of termination of this Agreement as
provided in Section 8.1, this Agreement shall forthwith become null and void and there shall be no
liability or obligation hereunder on the part of any party hereto except (a) as set forth in this
Section 8.2 and Article IX hereof, (b) except as provided in the following clause (c), nothing
herein shall relieve any party from liability for any breach of this Agreement, (c) in the event of
termination of this Agreement by Sellers pursuant to Sections 8.1 (b), (c) or (e) hereunder (a
“Liquidation Termination”) and (d) in the event of any termination of this Agreement by
Sellers or Purchasers other than a Liquidation Termination, Purchaser, Sellers shall be obligated
to return the Deposit to Purchaser within five (5) business days of such termination, Sellers shall
be entitled to retain the Deposit as liquidated damages against Purchaser hereunder. Purchaser
acknowledges that (i) the foregoing clause (c) is an essential element of the bargain Sellers are
relying on under this Agreement and Sellers have affirmatively made such clause a condition to
their entering into this Agreement, (ii) the damages to the Sellers in connection with a
Liquidation Termination are uncertain and estimating such damages would be impractical and

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extremely difficult at this time, (iii) the amount of liquidated damages stipulated in this
Section 8.2 have been fully-negotiated and are proportionate to, and a fair and reasonable estimate
of, the actual damages that would be occasioned to the Sellers in connection therewith and would
not pose an economic hardship to Purchaser and (iv) such liquidated damages do not in any way
constitute a penalty for such breach or termination.

ARTICLE IX

MISCELLANEOUS

     9.1 Survival of Representations, Warranties and Covenants. The representations and
warranties made by the Saratoga Sellers and the Company in Article II hereof, the Management
Sellers in Article IIA hereof and the Purchaser in Article III hereof, and the covenants and other
agreements contained herein to be fully performed or complied with at or prior to the Closing Date,
shall survive the Closing Date until that date which is eighteen (18) months after the Closing
Date, whereupon they shall expire notwithstanding any investigation at any time made by or on
behalf of the other party; provided, however, that the representations and warranties contained in
Sections 2.1 (Membership Interests), Section 2.3 (Authority Relative to this Agreement and Related
Matters), Section 2.8 (Employee Benefit Plans), Section 2.13 (Compliance with Environmental Laws),
Section 2.11 (Properties), Section 2.14 (Labor and Employment Matters), Section 2.15 (Tax Returns,
Audits and Liabilities), Section 2.1A (Membership Interests), Section 2.3A (Authority Relative to
this Agreement and Related Matters), Section 3.2 (Authorization), 3.5 (SEC Reports), Section 3.7
(Validity of TWW Stock), Section 3.9 (Tax Returns, Audits and Liabilities), Section 3.18
(Compliance with Environmental Laws), Section 3.19 (Employee Benefit Plans), and Section 3.20
(Labor and Employment Matters) shall survive until the date which is 48 months after the Closing
Date. All representations and warranties related to any claim asserted in writing prior to the
expiration of the applicable survival period shall survive (but only with respect to such claim)
until such claim shall be resolved and payment in respect thereof, if any is owing, shall be made..

     9.2 Amendment and Modification. This Agreement may be amended, modified, or
supplemented only by mutual written consent of the parties hereto.

     9.3 Further Assurances. Prior to and after Closing, the parties shall cooperate reasonably
with each other and with their respective representatives in connection with any steps required to
be taken as part of their respective obligations under this Agreement, and shall (a) furnish upon
request to each other such further information; (b) execute and deliver to each other such other
documents; and (c) do such other acts and things, all as the other party may reasonably request for
the purpose of carrying out the intent of this Agreement and the transactions contemplated hereby.

     9.4 Waiver of Compliance. To be effective, any waiver by a party of its right to
require performance of any provision hereof must be in writing, specifically refer to the right
being waived, and signed by the party. No waiver in any one or more instances shall (except as
stated therein) be deemed to be a further or continuing waiver of any such condition or breach in
other instances or a waiver of any condition or breach of any other term, covenant, representation,
or warranty.

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     9.5 Expenses. All costs and expenses incurred in connection with the negotiation and
consummation of this Agreement and the consummation of the transactions contemplated hereby shall
be paid by the party incurring such costs or expenses.

     9.6 Construction. This Agreement shall be construed without regard to any presumption
or other rule requiring construction against the party causing this Agreement to be drafted. If
any words or phrases in this Agreement shall have been stricken out or otherwise eliminated,
whether or not any other words or phrases have been added, this Agreement shall be construed as if
the words or phrases so stricken out or otherwise eliminated were never included in this Agreement
and no implication or inference shall be drawn from the fact that said words or phrases were so
stricken out or otherwise eliminated. All terms and words used in this Agreement, regardless of
the number or gender in which they are used, shall be deemed to include any other number and any
other gender as the context may require. If any term or provision of this Agreement or the
application thereof to any person or circumstance shall, to any extent, be invalid or
unenforceable, the remainder of this Agreement, and the application of such term or provision to
persons or circumstances other than those as to which it is held invalid or unenforceable, shall
not be affected thereby, and each term and provision of this Agreement shall be valid and enforced
to the fullest extent permitted by law.

     9.7 Notices. All notices, requests, demands, or other communications required or
permitted by this Agreement shall be in writing and effective when received, and delivery shall be
made personally or by registered or certified mail, return receipt requested, postage prepaid, or
overnight courier or confirmed facsimile transmission, addressed as follows:

			
	                    (1)	 	If to any Seller or the Seller Representative:

Saratoga Partners IV, L.P.

Saratoga Management Company LLC

Saratoga Coinvestment IV LLC

Saratoga Partners IV LLC

535 Madison Avenue

New York, NY 10022

Attention: Richard Petrocelli

Facsimile: (212) 750-3343

Copy to:

Cahill Gordon & Reindel llp

80 Pine Street

New York, NY 10005

Attention: Richard Farley, Esq.

Facsimile: (212) 269-5420

			
	                    (2)	 	If to Purchaser:

Terremark Worldwide, Inc.

2601 S. Bayshore Drive, 9th Floor

Miami, Florida 33133

Attention: Chief Legal Officer

Facsimile: (305) 856-8190

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	                         	 	Copy to:

Greenberg Traurig, P.A.

1221 Brickell Avenue

Miami, Florida 33131

Attention: Jaret L. Davis, Esq.

Facsimile: (305) 961-5676

Each party may send any notice, request, demand, claim, or other communication hereunder to the
intended recipient at the address set forth above using any other means (including personal
delivery, messenger service, telecopier, or ordinary mail), but no such notice, request, demand,
claim, or other communication shall be deemed to have been duly given unless and until it actually
is received by the intended recipient. Any party may change the address to which notices,
requests, demands, claims, and other communications hereunder are to be delivered by giving the
other parties hereto notice in the manner herein set forth. Any party may give any notice, request,
demand, claim or other communication hereunder by or though its counsel.

     9.8 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. THIS AGREEMENT
AND THE LEGAL RELATIONS BETWEEN THE PARTIES HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PROVISION. THE
PARTIES HERETO AGREE TO SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS IN
THE STATE OF NEW YORK LOCATED IN THE CITY OF NEW YORK WITH RESPECT TO ANY CLAIM OR MATTER ARISING
UNDER THIS AGREEMENT, AND HEREBY CONSENT THAT SERVICE OF PROCESS WITH RESPECT TO ALL COURTS IN AND
OF THE STATE OF NEW YORK MAY BE MADE BY REGISTERED MAIL TO SUCH PERSON AT THE ADDRESS OF SUCH
PERSON SET FORTH HEREIN. EACH OF THE PARTIES EXPRESSLY AND IRREVOCABLY WAIVE, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF
VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY
SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. PURCHASER AND SELLERS FURTHER HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

     9.9 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. One or more counterparts of this Agreement or any exhibit hereto may
be delivered via facsimile transmission, with the intention that they shall have the same effect as
an original counterpart hereof.

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     9.10 Headings. The headings of the Sections and Articles of this Agreement are
inserted for convenience only and shall not constitute a part hereof.

     9.11 Entire Agreement. This Agreement, including the agreements referred to herein,
and other documents referred to herein which form a part hereof, contains the entire understanding
of the parties hereto in respect of the subject matter contained herein. There are no
restrictions, promises, representations, warranties, covenants or undertakings other than those
expressly set forth or referred to herein. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

     9.12 No Third Party Beneficiary. This Agreement is for the benefit of, and may be
enforced only by, Purchaser and Seller and their respective permitted assigns, and is not for the
benefit of, and may not be enforced by, any third party.

     9.13 Further Assurances. The parties shall after the Closing, and without further
consideration, execute, acknowledge and deliver to the other parties hereto such documents,
contracts and instruments, and take such other actions, as shall reasonably requested or as may be
necessary to consummate more effectively the transactions herein contemplated in accordance with
this Agreement.

     9.14 Confidentiality. Each party hereto (on its own behalf and on behalf of its
lenders, principals, affiliates and constituent partners and members) covenants and agrees that the
terms of this Agreement, as well as the identity of the parties to the transactions contemplated
hereby, shall be kept in strictest confidence by such parties prior to the Closing, and thereafter,
if the Closing fails to occur for any reason; provided, however that each party may disclose such
information to a lender or prospective lender or to a prospective investor in or purchaser of any
direct or indirect securities of such party or to any legal, tax, financial or other professional
advisor of such party so long as such advisor, lender, prospective lender, prospective investor or
purchaser of securities has a duty or agrees in turn to keep such information confidential.
Notwithstanding the foregoing, nothing contained herein shall be construed so as to prohibit any
party from making any disclosure required by law, including, without limitation, required by the
rules and regulations of the 1933 Act or the 1934 Act or any such disclosure required by any
Federal, state or local governmental agency or court of competent jurisdiction, or any disclosure
which is reasonably necessary to protect any such party’s interest in any action, suit or
proceeding brought by or against such party and relating to the transactions contemplated hereby or
the subject matter of this Agreement.

     9.15 Assignment. No party may assign its rights under this Agreement without the
prior written consent of the other parties, which may be denied in such party’s sole and absolute
discretion; provided, however that the foregoing shall not prohibit Purchaser from assigning all of
its rights under this Agreement to a direct or indirect wholly-owned subsidiary; provided, further
that no such assignment shall relieve Purchaser of any of its obligations hereunder. This
Agreement shall be binding upon and inure to the benefit of the successors and assigns of the
parties hereto.

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     9.16 Expenses. Each of the parties to this Agreement shall bear its own expenses
incurred in connection with the negotiation, preparation and execution of this Agreement if the
transactions contemplated hereby fail to be consummated.

     9.17 Trading in Purchaser’s Stock. The Company and the Sellers acknowledge that
Purchaser is a publicly-traded company and that they are aware of the restrictions imposed by the
United States securities laws regarding trading by persons possessing material non-public
information. The Company and the Sellers each agree and acknowledge that will not trade in the
publicly-traded capital stock of the Purchaser until appropriate announcements are made.

     9.18 Specific Performance. Each of the Sellers and the Company recognizes and agrees
that the Purchaser shall not have an adequate remedy if either the Sellers or the Company fails to
satisfy the provisions of this Agreement and that damages will not be readily ascertainable, and
that the Sellers and the Company expressly agree that in the event of such failure the Purchaser
shall be entitled to seek specific performance of the Sellers’ and the Company’s obligations
hereunder and that neither the Sellers nor the Company will oppose an application seeking such
specific performance.

     9.19 Seller Representative. The execution of this Agreement by each Seller shall
constitute approval as of the date hereof of the appointment of Richard Petrocelli to act as the
representative of the Sellers (the “Seller Representative”). The Seller Representatives
shall have unlimited authority and power to act on behalf of each Seller with respect to this
Agreement, and all matters relating hereto, including the disposition, settlement or other handling
of all indemnification claims, rights or obligations arising from and taken pursuant to this
Agreement. Such Sellers will be bound by all actions taken by the Seller Representative in
connection with this Agreement and the Purchaser shall be entitled to rely on any action or
decision of the Seller Representative. The Seller Representative will incur no liability with
respect to any action taken or suffered by him, nor for any inaction, except his own willful
misconduct or gross negligence. In all questions arising under this Agreement, the Seller
Representative may rely on the advice of counsel, and the Seller Representative will not be liable
to any Seller for anything done, omitted or suffered in good faith by the Seller Representative
based on such advice. The Seller Representative will not be required to take any action involving
any expense unless the payment of such expense is made or provided for in a manner satisfactory to
him. The foregoing constitutes an unconditional and irrevocable power of attorney, coupled with an
interest, granted by each Seller to Seller Representative to execute and deliver all other
instruments and take all other actions, on such Seller’s behalf (including in such Seller’s
capacity as a creditor of the Company), necessary or convenient to effectuate the transactions
contemplated by this Agreement.

     9.20 Knowledge. In this Agreement, each statement made to the Company’s knowledge
shall be deemed to refer to matters within the actual knowledge of the Management Sellers.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

44

 

     IN WITNESS WHEREOF, each party hereto has caused this Interest Purchase Agreement to be
executed by its duly authorized representative, as of the day and year first written above.

	 	 	 	 	 
	 	SARATOGA SELLERS:

SARATOGA PARTNERS IV LP

 	 
	 	By:  	SARATOGA ASSOCIATES IV, LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                              SARATOGA MANAGEMENT  COMPANY, LLC,
 	 
	 	 	its Investment Advisor 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                  /s/ Richard Petrocelli
 	 
	 	 	Name:  	Richard Petrocelli 	 
	 	 	Title:  	Treasurer 	 
	 
	 	SARATOGA MANAGEMENT COMPANY LLC

 	 
	 	By:  	/s/ Richard Petrocelli
 	 
	 	 	Name:  	Richard Petrocelli 	 
	 	 	Title:  	Treasurer 	 
	 
	 	SARATOGA COINVESTMENT IV LLC

 	 
	 	By:  	SARATOGA MANAGEMENT COMPANY,

 its Managing Member
 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                  /s/ Richard Petrocelli
 	 
	 	 	Name:  	Richard Petrocelli 	 
	 	 	Title:  	Treasurer 	 
	 
	 	SARATOGA PARTNERS IV LLC

 	 
	 	By:  	/s/ Richard Petrocelli
 	 
	 	 	Name:  	Richard Petrocelli 	 
	 	 	Title:  	Treasurer 	 

45

 

	 	 	 	 	 

	 	 	 	 	 
	 	MANAGEMENT SELLERS:

 	 
	 	/s/ John D. Beletic
 	 
	 	John D. Beletic 	 
	 	 	 
	 
	 	 	 
	 	                                              /s/ Sunny Vanderbeck
 	 
	 	Sunny Vanderbeck 	 
	 	 	 
	 
	 	 	 
	 	                                              /s/ Steve Armond
 	 
	 	Steve Armond 	 
	 	 	 
	 
	 	 	 
	 	                                              /s/ Todd Steitle
 	 
	 	Todd Steitle 	 
	 	 	 
	 
	 	 	 
	 	                                              /s/ Thomas Steven Blair
 	 
	 	Thomas Steven Blair 	 
	 	 	 
	 
	 	 	 
	 	                                              /s/ Mark Warren
 	 
	 	Mark Warren 	 
	 	 	 
	 
	 	J&A PARTNERSHIP LTD.

 	 
	 	By:  	/s/ John D. Beletic
 	 
	 	 	Name:  	John D. Beletic 	 
	 	 	Title:  	General Partner 	 

46

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMPANY:

DATA RETURN LLC

 	 
	 	By:  	/s/ Steven J. Armond
 	 
	 	 	Name:  	Steven J. Armond 	 
	 	 	Title:  	Chief Financial Officer 	 

47

 

	 	 	 	 	 

	 	 	 	 	 
	 	PURCHASER:

TERREMARK WORLDWIDE, INC.

 	 
	 	By:  	/s/ Jose A. Segrera
 	 
	 	 	Name:  	Jose A. Segrera 	 
	 	 	Its:            Chief Financial Officer 	 

48

 

	 	 	 	 	 

Exhibit A

Form of Registration Rights Agreement

49

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