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EXHIBIT 10.4	Form of Common Stock Purchase Warrant dated as of
		March 4, 2004

THIS WARRANT AND THE SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  EXCEPT AS
OTHERWISE SET FORTH HEREIN OR IN A SECURITIES PURCHASE AGREEMENT DATED AS OF
NOVEMBER 25, 2003, NEITHER THIS WARRANT NOR ANY OF SUCH SHARES MAY BE SOLD,
TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
FOR SUCH SECURITIES UNDER SAID ACT OR, AN OPINION OF COUNSEL, IN FORM,
SUBSTANCE AND SCOPE, CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE
TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD
PURSUANT TO RULE 144 OR REGULATION S UNDER SUCH ACT.

Right to Purchase ______ Shares of Common Stock, no par value per share

STOCK PURCHASE WARRANT

THIS CERTIFIES THAT, for value received, ____________________ or its
registered assigns, is entitled to purchase form Conectisys Corporation, a
Colorado corporation (the "Company"), at any time or from time to time during
the period specified in Paragraph 2 hereof, __________________________________
(________) fully paid and nonassessable shares of the Company's Common Stock,
no par value per share (the "Common Stock"), at an exercise price per share
equal to $.005 (the "Exercise Price").  The term "Warrant Shares," as used
herein, refers to the shares of Common Stock purchasable hereunder.  The
Warrant Shares and the Exercise Price are subject to adjustment as provided in
Paragraph 4 hereof.  The term "Warrants" means this Warrant and the other
warrants issued pursuant to that certain Securities Purchase Agreement, dated
November 25, 2003, by and among the Company and the Buyers listed on the
execution page thereof (the "Securities Purchase Agreement").

This Warrant is subject to the following terms, provisions, and conditions:

1.	Manner of Exercise; Issuance of Certificates; Payment for Shares.
Subject to the provisions hereof, this Warrant may be exercised by the holder
hereof, in whole or in part, by the surrender of this Warrant, together with a
completed exercise agreement in the form attached hereto (the "Exercise
Agreement"), to the Company during normal business hours on any business day
at the Company's principal executive offices (or such other office or agency
of the Company as it may designate by notice to the holder hereof), and upon
(i) payment to the Company in cash, by certified or official bank check or by
wire transfer for the account of the Company of the Exercise Price for the
Warrant Shares specified in the Exercise Agreement or (ii) if the resale of
the Warrant Shares by the holder is not then registered pursuant to an
effective registration statement under the Securities Act of 1933, as amended
(the "Securities Act"), delivery to the Company of a written notice of an
election to effect a "Cashless Exercise" (as defined in Section 11(c) below)
for the Warrant Shares specified in the Exercise Agreement.  The Warrant
Shares so purchased shall be deemed to be issued to the holder hereof or such
holder's designee, as the record owner of such shares, as of the close of
business on the date on which this Warrant shall have been surrendered, the
completed Exercise Agreement shall have been delivered, and payment shall have
been made for such shares as set forth above.  Certificates for the Warrant
Shares so purchased, representing the aggregate number of shares specified in
the Exercise Agreement, shall be delivered to the holder hereof within a
reasonable time, not exceeding three (3) business days, after this Warrant
shall have been so exercised.  The certificates so delivered shall be in such
denominations as may be requested by the holder hereof and shall be registered
in the name of such holder or such other name as shall be designated by such
holder.  If this Warrant shall have been exercised only in part, then, unless
this Warrant has expired, the Company shall, at its expense, at the time of
delivery of such certificates, deliver to the holder a new Warrant
representing the number of shares with respect to which this Warrant shall not
then have been exercised.  In addition to all other available remedies at law
or in equity, if the Company fails to deliver certificates for the Warrant
Shares within three (3) business days after this Warrant is exercised, then
the Company shall pay to the holder in cash a penalty (the "Penalty") equal to
2% of the number of Warrant Shares that the holder is entitled to multiplied
by the Market Price for each day that the Company fails to deliver
certificates for the Warrant Shares.  For example, if the holder is entitled
to 100,000 Warrant Shares and the Market Price is $2.00, then the Company
shall pay to the holder $4,000 for each day that the Company fails to deliver
certificates for the Warrant Shares.  The Penalty shall be paid to the holder
by the fifth day of the month following the month in which it has accrued.
Notwithstanding anything in this Warrant to the contrary, in no event shall
the holder of this Warrant be entitled to exercise a number of Warrants (or
portions thereof) in excess of the number of Warrants (or portions thereof)
upon exercise of which the sum of (i) the number of shares of Common Stock
beneficially owned by the holder and its affiliates (other than shares of
Common Stock which may be deemed beneficially owned through the ownership of
the unexercised Warrants and the unexercised or unconverted portion of any
other securities of the Company (including the Debentures (as defined in the
Securities Purchase Agreement)) subject to a limitation on conversion or
exercise analogous to the limitation contained herein) and (ii) the number of
shares of Common Stock issuable upon exercise of the Warrants (or portions
thereof) with respect to which the determination described herein is being
made, would result in beneficial ownership by the holder and its affiliates of
more than 4.9% of the outstanding shares of Common Stock.  For purposes of the
immediately preceding sentence, beneficial ownership shall be determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934, as
amended, and Regulation 13D-G thereunder, except as otherwise provided in
clause (i) of the preceding sentence.  Notwithstanding anything to the
contrary contained herein, the limitation on exercise of this Warrant set
forth herein may not be amended without (i) the written consent of the holder
hereof and the Company and (ii) the approval of a majority of shareholders of
the Company.

2.	Period of Exercise.  This Warrant is exercisable at any time or from
time to time on or after the date on which this Warrant is issued and
delivered pursuant to the terms of the Securities Purchase Agreement and
before 6:00 p.m., New York, New York time on the seventh (7th) anniversary of
the date of issuance (the "Exercise Period").

3.	Certain Agreements of the Company.  The Company hereby covenants and
agrees as follows:

(a)	Shares to be Fully Paid.  All Warrant Shares will, upon issuance in
accordance with the terms of this Warrant, be validly issued, fully paid, and
nonassessable and free from all taxes, liens, and charges with respect to the
issue thereof.

(b)	Reservation of Shares.  Subject to the Stockholder Approval (as
defined in Section 4(l) of the Securities Purchase Agreement), during the
Exercise Period, the Company shall at all times have authorized, and reserved
for the purpose of issuance upon exercise of this Warrant, a sufficient number
of shares of Common Stock to provide for the exercise of this Warrant.

(c)	Listing.  The Company shall promptly secure the listing of the shares
of Common Stock issuable upon exercise of the Warrant upon each national
securities exchange or automated quotation system, if any, upon which shares
of Common Stock are then listed (subject to official notice of issuance upon
exercise of this Warrant) and shall maintain, so long as any other shares of
Common Stock shall be so listed, such listing of all shares of Common Stock
from time to time issuable upon the exercise of this Warrant; and the Company
shall so list on each national securities exchange or automated quotation
system, as the case may be, and shall maintain such listing of, any other
shares of capital stock of the Company issuable upon the exercise of this
Warrant if and so long as any shares of the same class shall be listed on such
national securities exchange or automated quotation system.

(d)	Certain Actions Prohibited.  The Company will not, by amendment of its
charter or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the
terms to be observed or performed by it hereunder, but will at all times in
good faith assist in the carrying out of all the provisions of this Warrant
and in the taking of all such action as may reasonably be requested by the
holder of this Warrant in order to protect the exercise privilege of the
holder of this Warrant against dilution or other impairment, consistent with
the tenor and purpose of this Warrant.  Without limiting the generality of the
foregoing, the Company (i) will not increase the par value of any shares of
Common Stock receivable upon the exercise of this Warrant above the Exercise
Price then in effect, and (ii) will take all such actions as may be necessary
or appropriate in order that the Company may validly and legally issue fully
paid and nonassessable shares of Common Stock upon the exercise of this
Warrant.

(e)	Successors and Assigns.  This Warrant will be binding upon any entity
succeeding to the Company by merger, consolidation, or acquisition of all or
substantially all the Company's assets.

4.	Antidilution Provisions.  During the Exercise Period, the Exercise
Price and the number of Warrant Shares shall be subject to adjustment from
time to time as provided in this Paragraph 4.

In the event that any adjustment of the Exercise Price as required herein
results in a fraction of a cent, such Exercise Price shall be rounded up to
the nearest cent.

(a)	Adjustment of Exercise Price and Number of Shares upon Issuance of
Common Stock.  Except as otherwise provided in Paragraphs 4(c) and 4(e)
hereof, if and whenever on or after the date of issuance of this Warrant, the
Company issues or sells, or in accordance with Paragraph 4(b) hereof is deemed
to have issued or sold, any shares of Common Stock for no consideration or for
a consideration per share (before deduction of reasonable expenses or
commissions or underwriting discounts or allowances in connection therewith)
less than the Market Price (as hereinafter defined) on the date of issuance (a
"Dilutive Issuance"), then immediately upon the Dilutive Issuance, the
Exercise Price will be reduced to a price determined by multiplying the
Exercise Price in effect immediately prior to the Dilutive Issuance by a
fraction, (i) the numerator of which is an amount equal to the sum of (x) the
number of shares of Common Stock actually outstanding immediately prior to the
Dilutive Issuance, plus (y) the quotient of the aggregate consideration,
calculated as set forth in Paragraph 4(b) hereof, received by the Company upon
such Dilutive Issuance divided by the Market Price in effect immediately prior
to the Dilutive Issuance, and (ii) the denominator of which is the total
number of shares of Common Stock Deemed Outstanding (as defined below)
immediately after the Dilutive Issuance.

(b)	Effect on Exercise Price of Certain Events.  For purposes of
determining the adjusted Exercise Price under Paragraph 4(a) hereof, the
following will be applicable:

(i)	Issuance of Rights or Options.  If the Company in any manner issues or
grants any warrants, rights or options, whether or not immediately
exercisable, to subscribe for or to purchase Common Stock or other securities
convertible into or exchangeable for Common Stock ("Convertible Securities")
(such warrants, rights and options to purchase Common Stock or Convertible
Securities are hereinafter referred to as "Options") and the price per share
for which Common Stock is issuable upon the exercise of such Options is less
than the Market Price on the date of issuance or grant of such Options, then
the maximum total number of shares of Common Stock issuable upon the exercise
of all such Options will, as of the date of the issuance or grant of such
Options, be deemed to be outstanding and to have been issued and sold by the
Company for such price per share.  For purposes of the preceding sentence, the
"price per share for which Common Stock is issuable upon the exercise of such
Options" is determined by dividing (i) the total amount, if any, received or
receivable by the Company as consideration for the issuance or granting of all
such Options, plus the minimum aggregate amount of additional consideration,
if any, payable to the Company upon the exercise of all such Options, plus, in
the case of Convertible Securities issuable upon the exercise of such Options,
the minimum aggregate amount of additional consideration payable upon the
conversion or exchange thereof at the time such Convertible Securities first
become convertible or exchangeable, by (ii) the maximum total number of shares
of Common Stock issuable upon the exercise of all such Options (assuming full
conversion of Convertible Securities, if applicable).  No further adjustment
to the Exercise Price will be made upon the actual issuance of such Common
Stock upon the exercise of such Options or upon the conversion or exchange of
Convertible Securities issuable upon exercise of such Options.

(ii)	Issuance of Convertible Securities.  If the Company in any manner
issues or sells any Convertible Securities, whether or not immediately
convertible (other than where the same are issuable upon the exercise of
Options) and the price per share for which Common Stock is issuable upon such
conversion or exchange is less than the Market Price on the date of issuance,
then the maximum total number of shares of Common Stock issuable upon the
conversion or exchange of all such Convertible Securities will, as of the date
of the issuance of such Convertible Securities, be deemed to be outstanding
and to have been issued and sold by the Company for such price per share.  For
the purposes of the preceding sentence, the "price per share for which Common
Stock is issuable upon such conversion or exchange" is determined by dividing
(i) the total amount, if any, received or receivable by the Company as
consideration for the issuance or sale of all such Convertible Securities,
plus the minimum aggregate amount of additional consideration, if any, payable
to the Company upon the conversion or exchange thereof at the time such
Convertible Securities first become convertible or exchangeable, by (ii) the
maximum total number of shares of Common Stock issuable upon the conversion or
exchange of all such Convertible Securities.  No further adjustment to the
Exercise Price will be made upon the actual issuance of such Common Stock upon
conversion or exchange of such Convertible Securities.

(iii)	Change in Option Price or Conversion Rate.  If there is a change at
any time in (i) the amount of additional consideration payable to the Company
upon the exercise of any Options; (ii) the amount of additional consideration,
if any, payable to the Company upon the conversion or exchange of any
Convertible Securities; or (iii) the rate at which any Convertible Securities
are convertible into or exchangeable for Common Stock (other than under or by
reason of provisions designed to protect against dilution), the Exercise Price
in effect at the time of such change will be readjusted to the Exercise Price
which would have been in effect at such time had such Options or Convertible
Securities still outstanding provided for such changed additional
consideration or changed conversion rate, as the case may be, at the time
initially granted, issued or sold.

(iv)	Treatment of Expired Options and Unexercised Convertible Securities.
If, in any case, the total number of shares of Common Stock issuable upon
exercise of any Option or upon conversion or exchange of any Convertible
Securities is not, in fact, issued and the rights to exercise such Option or
to convert or exchange such Convertible Securities shall have expired or
terminated, the Exercise Price then in effect will be readjusted to the
Exercise Price which would have been in effect at the time of such expiration
or termination had such Option or Convertible Securities, to the extent
outstanding immediately prior to such expiration or termination (other than in
respect of the actual number of shares of Common Stock issued upon exercise or
conversion thereof), never been issued.

(v)	Calculation of Consideration Received.  If any Common Stock, Options
or Convertible Securities are issued, granted or sold for cash, the
consideration received therefor for purposes of this Warrant will be the
amount received by the Company therefor, before deduction of reasonable
commissions, underwriting discounts or allowances or other reasonable expenses
paid or incurred by the Company in connection with such issuance, grant or
sale.  In case any Common Stock, Options or Convertible Securities are issued
or sold for a consideration part or all of which shall be other than cash, the
amount of the consideration other than cash received by the Company will be
the fair value of such consideration, except where such consideration consists
of securities, in which case the amount of consideration received by the
Company will be the Market Price thereof as of the date of receipt.  In case
any Common Stock, Options or Convertible Securities are issued in connection
with any acquisition, merger or consolidation in which the Company is the
surviving corporation, the amount of consideration therefor will be deemed to
be the fair value of such portion of the net assets and business of the non-
surviving corporation as is attributable to such Common Stock, Options or
Convertible Securities, as the case may be.  The fair value of any
consideration other than cash or securities will be determined in good faith
by the Board of Directors of the Company.

(vi)	Exceptions to Adjustment of Exercise Price.  No adjustment to the
Exercise Price will be made (i) upon the exercise of any warrants, options or
convertible securities granted, issued and outstanding on the date of issuance
of this Warrant; (ii) upon the grant or exercise of any stock or options which
may hereafter be granted or exercised under any employee benefit plan, stock
option plan or restricted stock plan of the Company now existing or to be
implemented in the future, so long as the issuance of such stock or options is
approved by a majority of the independent members of the Board of Directors of
the Company or a majority of the members of a committee of independent
directors established for such purpose; or (iii) upon the exercise of the
Warrants.

(c)	Subdivision or Combination of Common Stock.  If the Company at any
time subdivides (by any stock split, stock dividend, recapitalization,
reorganization, reclassification or otherwise) the shares of Common Stock
acquirable hereunder into a greater number of shares, then, after the date of
record for effecting such subdivision, the Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced.  If the
Company at any time combines (by reverse stock split, recapitalization,
reorganization, reclassification or otherwise) the shares of Common Stock
acquirable hereunder into a smaller number of shares, then, after the date of
record for effecting such combination, the Exercise Price in effect
immediately prior to such combination will be proportionately increased.

(d)	Adjustment in Number of Shares.  Upon each adjustment of the Exercise
Price pursuant to the provisions of this Paragraph 4, the number of shares of
Common Stock issuable upon exercise of this Warrant shall be adjusted by
multiplying a number equal to the Exercise Price in effect immediately prior
to such adjustment by the number of shares of Common Stock issuable upon
exercise of this Warrant immediately prior to such adjustment and dividing the
product so obtained by the adjusted Exercise Price.

(e)	Consolidation, Merger or Sale.  In case of any consolidation of the
Company with, or merger of the Company into any other corporation, or in case
of any sale or conveyance of all or substantially all of the assets of the
Company other than in connection with a plan of complete liquidation of the
Company, then as a condition of such consolidation, merger or sale or
conveyance, adequate provision will be made whereby the holder of this Warrant
will have the right to acquire and receive upon exercise of this Warrant in
lieu of the shares of Common Stock immediately theretofore acquirable upon the
exercise of this Warrant, such shares of stock, securities or assets as may be
issued or payable with respect to or in exchange for the number of shares of
Common Stock immediately theretofore acquirable and receivable upon exercise
of this Warrant had such consolidation, merger or sale or conveyance not taken
place.  In any such case, the Company will make appropriate provision to
insure that the provisions of this Paragraph 4 hereof will thereafter be
applicable as nearly as may be in relation to any shares of stock or
securities thereafter deliverable upon the exercise of this Warrant.  The
Company will not effect any consolidation, merger or sale or conveyance unless
prior to the consummation thereof, the successor corporation (if other than
the Company) assumes by written instrument the obligations under this
Paragraph 4 and the obligations to deliver to the holder of this Warrant such
shares of stock, securities or assets as, in accordance with the foregoing
provisions, the holder may be entitled to acquire.

(f)	Distribution of Assets.  In case the Company shall declare or make any
distribution of its assets (including cash) to holders of Common Stock as a
partial liquidating dividend, by way of return of capital or otherwise, then,
after the date of record for determining stockholders entitled to such
distribution, but prior to the date of distribution, the holder of this
Warrant shall be entitled upon exercise of this Warrant for the purchase of
any or all of the shares of Common Stock subject hereto, to receive the amount
of such assets which would have been payable to the holder had such holder
been the holder of such shares of Common Stock on the record date for the
determination of stockholders entitled to such distribution.

(g)	Notice of Adjustment.  Upon the occurrence of any event which requires
any adjustment of the Exercise Price, then, and in each such case, the Company
shall give notice thereof to the holder of this Warrant, which notice shall
state the Exercise Price resulting from such adjustment and the increase or
decrease in the number of Warrant Shares purchasable at such price upon
exercise, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.  Such calculation shall be
certified by the Chief Financial Officer of the Company.

(h)	Minimum Adjustment of Exercise Price.  No adjustment of the Exercise
Price shall be made in an amount of less than 1% of the Exercise Price in
effect at the time such adjustment is otherwise required to be made, but any
such lesser adjustment shall be carried forward and shall be made at the time
and together with the next subsequent adjustment which, together with any
adjustments so carried forward, shall amount to not less than 1% of such
Exercise Price.

(i)	No Fractional Shares.  No fractional shares of Common Stock are to be
issued upon the exercise of this Warrant, but the Company shall pay a cash
adjustment in respect of any fractional share which would otherwise be
issuable in an amount equal to the same fraction of the Market Price of a
share of Common Stock on the date of such exercise.

(j)	Other Notices.  In case at any time:

(i)	the Company shall declare any dividend upon the Common Stock payable
in shares of stock of any class or make any other distribution (including
dividends or distributions payable in cash out of retained earnings) to the
holders of the Common Stock;

(ii)	the Company shall offer for subscription pro rata to the holders of
the Common Stock any additional shares of stock of any class or other rights;

(iii)	there shall be any capital reorganization of the Company, or
reclassification of the Common Stock, or consolidation or merger of the
Company with or into, or sale of all or substantially all its assets to,
another corporation or entity; or

(iv)	there shall be a voluntary or involuntary dissolution, liquidation or
winding up of the Company;

then, in each such case, the Company shall give to the holder of this Warrant
(a) notice of the date on which the books of the Company shall close or a
record shall be taken for determining the holders of Common Stock entitled to
receive any such dividend, distribution, or subscription rights or for
determining the holders of Common Stock entitled to vote in respect of any
such reorganization, reclassification, consolidation, merger, sale,
dissolution, liquidation or winding-up and (b) in the case of any such
reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding-up, notice of the date (or, if not then known, a
reasonable approximation thereof by the Company) when the same shall take
place.  Such notice shall also specify the date on which the holders of Common
Stock shall be entitled to receive such dividend, distribution, or
subscription rights or to exchange their Common Stock for stock or other
securities or property deliverable upon such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation, or winding-up, as the
case may be.  Such notice shall be given at least 30 days prior to the record
date or the date on which the Company's books are closed in respect thereto.
Failure to give any such notice or any defect therein shall not affect the
validity of the proceedings referred to in clauses (i), (ii), (iii) and (iv)
above.

(k)	Certain Events.  If any event occurs of the type contemplated by the
adjustment provisions of this Paragraph 4 but not expressly provided for by
such provisions, the Company will give notice of such event as provided in
Paragraph 4(g) hereof, and the Company's Board of Directors will make an
appropriate adjustment in the Exercise Price and the number of shares of
Common Stock acquirable upon exercise of this Warrant so that the rights of
the holder shall be neither enhanced nor diminished by such event.

(l)	Certain Definitions.

(i)	"Common Stock Deemed Outstanding" shall mean the number of shares of
Common Stock actually outstanding (not including shares of Common Stock held
in the treasury of the Company), plus (x) pursuant to Paragraph 4(b)(i)
hereof, the maximum total number of shares of Common Stock issuable upon the
exercise of Options, as of the date of such issuance or grant of such Options,
if any, and (y) pursuant to Paragraph 4(b)(ii) hereof, the maximum total
number of shares of Common Stock issuable upon conversion or exchange of
Convertible Securities, as of the date of issuance of such Convertible
Securities, if any.

(ii)	"Market Price," as of any date, (i) means the average of the last
reported sale prices for the shares of Common Stock on the Over-the-Counter
Bulletin Board for the five (5) trading days immediately preceding such date
as reported by Bloomberg Financial Markets, or (ii) if the Over-the-Counter
Bulletin Board is not the principal trading market for the shares of Common
Stock, the average of the last reported sale prices on the principal trading
market for the Common Stock during the same period as reported by Bloomberg
Financial Markets, or (iii) if market value cannot be calculated as of such
date on any of the foregoing bases, the Market Price shall be the fair market
value as reasonably determined in good faith by (a) the Board of Directors of
the Company or, at the option of a majority-in-interest of the holders of the
outstanding Warrants by (b) an independent investment bank of nationally
recognized standing in the valuation of businesses similar to the business of
the corporation. The manner of determining the Market Price of the Common
Stock set forth in the foregoing definition shall apply with respect to any
other security in respect of which a determination as to market value must be
made hereunder.

(iii)	"Common Stock," for purposes of this Paragraph 4, includes the Common
Stock, no par value per share, and any additional class of stock of the
Company having no preference as to dividends or distributions on liquidation,
provided that the shares purchasable pursuant to this Warrant shall include
only shares of Common Stock, no par value per share, in respect of which this
Warrant is exercisable, or shares resulting from any subdivision or
combination of such Common Stock, or in the case of any reorganization,
reclassification, consolidation, merger, or sale of the character referred to
in Paragraph 4(e) hereof, the stock or other securities or property provided
for in such Paragraph.

5.	Issue Tax.  The issuance of certificates for Warrant Shares upon the
exercise of this Warrant shall be made without charge to the holder of this
Warrant or such shares for any issuance tax or other costs in respect thereof,
provided that the Company shall not be required to pay any tax which may be
payable in respect of any transfer involved in the issuance and delivery of
any certificate in a name other than the holder of this Warrant.

6.	No Rights or Liabilities as a Shareholder.  This Warrant shall not
entitle the holder hereof to any voting rights or other rights as a
shareholder of the Company.  No provision of this Warrant, in the absence of
affirmative action by the holder hereof to purchase Warrant Shares, and no
mere enumeration herein of the rights or privileges of the holder hereof,
shall give rise to any liability of such holder for the Exercise Price or as a
shareholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

7.	Transfer, Exchange, and Replacement of Warrant.

(a)	Restriction on Transfer.  This Warrant and the rights granted to the
holder hereof are transferable, in whole or in part, upon surrender of this
Warrant, together with a properly executed assignment in the form attached
hereto, at the office or agency of the Company referred to in Paragraph 7(e)
below, provided, however, that any transfer or assignment shall be subject to
the conditions set forth in Paragraph 7(f) hereof and to the applicable
provisions of the Securities Purchase Agreement.  Until due presentment for
registration of transfer on the books of the Company, the Company may treat
the registered holder hereof as the owner and holder hereof for all purposes,
and the Company shall not be affected by any notice to the contrary.
Notwithstanding anything to the contrary contained herein, the registration
rights described in Paragraph 8 are assignable only in accordance with the
provisions of that certain Registration Rights Agreement, dated November 25,
2003, by and among the Company and the other signatories thereto (the
"Registration Rights Agreement").

(b)	Warrant Exchangeable for Different Denominations.  This Warrant is
exchangeable, upon the surrender hereof by the holder hereof at the office or
agency of the Company referred to in Paragraph 7(e) below, for new Warrants of
like tenor representing in the aggregate the right to purchase the number of
shares of Common Stock which may be purchased hereunder, each of such new
Warrants to represent the right to purchase such number of shares as shall be
designated by the holder hereof at the time of such surrender.

(c)	Replacement of Warrant.  Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction, or mutilation of
this Warrant and, in the case of any such loss, theft, or destruction, upon
delivery of an indemnity agreement reasonably satisfactory in form and amount
to the Company, or, in the case of any such mutilation, upon surrender and
cancellation of this Warrant, the Company, at its expense, will execute and
deliver, in lieu thereof, a new Warrant of like tenor.

(d)	Cancellation; Payment of Expenses.  Upon the surrender of this Warrant
in connection with any transfer, exchange, or replacement as provided in this
Paragraph 7, this Warrant shall be promptly canceled by the Company.  The
Company shall pay all taxes (other than securities transfer taxes) and all
other expenses (other than legal expenses, if any, incurred by the holder or
transferees) and charges payable in connection with the preparation,
execution, and delivery of Warrants pursuant to this Paragraph 7.

(e)	Register.  The Company shall maintain, at its principal executive
offices (or such other office or agency of the Company as it may designate by
notice to the holder hereof), a register for this Warrant, in which the
Company shall record the name and address of the person in whose name this
Warrant has been issued, as well as the name and address of each transferee
and each prior owner of this Warrant.

(f)	Exercise or Transfer Without Registration.  If, at the time of the
surrender of this Warrant in connection with any exercise, transfer, or
exchange of this Warrant, this Warrant (or, in the case of any exercise, the
Warrant Shares issuable hereunder), shall not be registered under the
Securities Act of 1933, as amended (the "Securities Act") and under applicable
state securities or blue sky laws, the Company may require, as a condition of
allowing such exercise, transfer, or exchange, (i) that the holder or
transferee of this Warrant, as the case may be, furnish to the Company a
written opinion of counsel, which opinion and counsel are acceptable to the
Company, to the effect that such exercise, transfer, or exchange may be made
without registration under said Act and under applicable state securities or
blue sky laws, (ii) that the holder or transferee execute and deliver to the
Company an investment letter in form and substance acceptable to the Company
and (iii) that the transferee be an "accredited investor" as defined in Rule
501(a) promulgated under the Securities Act; provided that no such opinion,
letter or status as an "accredited investor" shall be required in connection
with a transfer pursuant to Rule 144 under the Securities Act.  The first
holder of this Warrant, by taking and holding the same, represents to the
Company that such holder is acquiring this Warrant for investment and not with
a view to the distribution thereof.

8.	Registration Rights.  The initial holder of this Warrant (and certain
assignees thereof) is entitled to the benefit of such registration rights in
respect of the Warrant Shares as are set forth in Section 2 of the
Registration Rights Agreement.

9.	Notices.  All notices, requests, and other communications required or
permitted to be given or delivered hereunder to the holder of this Warrant
shall be in writing, and shall be personally delivered, or shall be sent by
certified or registered mail or by recognized overnight mail courier, postage
prepaid and addressed, to such holder at the address shown for such holder on
the books of the Company, or at such other address as shall have been
furnished to the Company by notice from such holder.  All notices, requests,
and other communications required or permitted to be given or delivered
hereunder to the Company shall be in writing, and shall be personally
delivered, or shall be sent by certified or registered mail or by recognized
overnight mail courier, postage prepaid and addressed, to the office of the
Company at 24730 Avenue Tibbitts, Suite 130, Valencia, California  91355,
Attention: Chief Executive Officer, or at such other address as shall have
been furnished to the holder of this Warrant by notice from the Company.  Any
such notice, request, or other communication may be sent by facsimile, but
shall in such case be subsequently confirmed by a writing personally delivered
or sent by certified or registered mail or by recognized overnight mail
courier as provided above.  All notices, requests, and other communications
shall be deemed to have been given either at the time of the receipt thereof
by the person entitled to receive such notice at the address of such person
for purposes of this Paragraph 9, or, if mailed by registered or certified
mail or with a recognized overnight mail courier upon deposit with the United
States Post Office or such overnight mail courier, if postage is prepaid and
the mailing is properly addressed, as the case may be.

10.	Governing Law.  THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS.  THE PARTIES HERETO HEREBY SUBMIT TO
THE EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN NEW
YORK, NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE
AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF
AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING.  BOTH
PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST
CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON
THE PARTY IN ANY SUCH SUIT OR PROCEEDING.  NOTHING HEREIN SHALL AFFECT EITHER
PARTY'S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.  BOTH
PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY
SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER.  THE PARTY WHICH DOES NOT
PREVAIL IN ANY DISPUTE ARISING UNDER THIS WARRANT SHALL BE RESPONSIBLE FOR ALL
FEES AND EXPENSES, INCLUDING ATTORNEYS' FEES, INCURRED BY THE PREVAILING PARTY
IN CONNECTION WITH SUCH DISPUTE.

11.	Miscellaneous.

(a)	Amendments.  This Warrant and any provision hereof may only be amended
by an instrument in writing signed by the Company and the holder hereof.

(b)	Descriptive Headings.  The descriptive headings of the several
paragraphs of this Warrant are inserted for purposes of reference only, and
shall not affect the meaning or construction of any of the provisions hereof.

(c)	Cashless Exercise.  Notwithstanding anything to the contrary contained
in this Warrant, if the resale of the Warrant Shares by the holder is not then
registered pursuant to an effective registration statement under the
Securities Act, this Warrant may be exercised by presentation and surrender of
this Warrant to the Company at its principal executive offices with a written
notice of the holder's intention to effect a cashless exercise, including a
calculation of the number of shares of Common Stock to be issued upon such
exercise in accordance with the terms hereof (a "Cashless Exercise").  In the
event of a Cashless Exercise, in lieu of paying the Exercise Price in cash,
the holder shall surrender this Warrant for that number of shares of Common
Stock determined by multiplying the number of Warrant Shares to which it would
otherwise be entitled by a fraction, the numerator of which shall be the
difference between the then current Market Price per share of the Common Stock
and the Exercise Price,  and the denominator of which shall be the then
current Market Price per share of Common Stock.  For example, if the holder is
exercising 100,000 Warrants with a per Warrant exercise price of $0.75 per
share through a cashless exercise when the Common Stock's current Market Price
per share is $2.00 per share, then upon such Cashless Exercise the holder will
receive 62,500 shares of Common Stock.

(d)	Remedies.  The Company acknowledges that a breach by it of its
obligations hereunder will cause irreparable harm to the holder, by vitiating
the intent and purpose of the transaction contemplated hereby.  Accordingly,
the Company acknowledges that the remedy at law for a breach of its
obligations under this Warrant will be inadequate and agrees, in the event of
a breach or threatened breach by the Company of the provisions of this
Warrant, that the holder shall be entitled, in addition to all other available
remedies at law or in equity, and in addition to the penalties assessable
herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Warrant and to enforce specifically the terms and provisions
thereof, without the necessity of showing economic loss and without any bond
or other security being required.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its
duly authorized officer.

CONECTISYS CORPORATION

By: _____________________________
 Robert A. Spigno
 Chief Executive Officer

Dated as of March 4, 2004

FORM OF EXERCISE AGREEMENT

				Dated: 	________ __,200_

To:	Conectisys Corporation

The undersigned, pursuant to the provisions set forth in the within Warrant,
hereby agrees to purchase ________ shares of Common Stock covered by such
Warrant, and makes payment herewith in full therefor at the price per share
provided by such Warrant in cash or by certified or official bank check in the
amount of, or, if the resale of such Common Stock by the undersigned is not
currently registered pursuant to an effective registration statement under the
Securities Act of 1933, as amended, by surrender of securities issued by the
Company (including a portion of the Warrant) having a market value (in the
case of a portion of this Warrant, determined in accordance with Section 11(c)
of the Warrant) equal to $_________.  Please issue a certificate or
certificates for such shares of Common Stock in the name of and pay any cash
for any fractional share to:

Name: 	______________________________

Signature:

Address:____________________________

	_____________________________

Note:	The above signature should correspond exactly with the name on the
face of the within Warrant, if applicable.

and, if said number of shares of Common Stock shall not be all the shares
purchasable under the within Warrant, a new Warrant is to be issued in the
name of said undersigned covering the balance of the shares purchasable
thereunder less any fraction of a share paid in cash.

FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers all
the rights of the undersigned under the within Warrant, with respect to the
number of shares of Common Stock covered thereby set forth hereinbelow, to:

Name of Assignee			Address
No of Shares

, and hereby irrevocably constitutes and appoints
___________________________________ as agent and attorney-in-fact to transfer
said Warrant on the books of the within-named corporation, with full power of
substitution in the premises.

Dated:	________ __, 200_

In the presence of:
______________________________

Name:______________________________

Signature:_________________________
Title of Signing Officer or Agent (if any):
		______________________________
Address:	______________________________
		______________________________

Note:	The above signature should correspond exactly with the name on the
face of the within Warrant, if applicable.EX 4_79 Japan Line of Credit

MULTI-CURRENCY REVOLVING CREDIT FACILITY

(secured by a Guarantee)

                                                                       

The Directors of

Outback Steakhouse Japan KK

Fukuda Building West 2F, 11-3

Akasaka 2-chome

Minato-ku, Tokyo

Date:                           October____, 2003 

Dear Sirs,

We are pleased to advise you that Wachovia Bank, National Association, London Branch (the "Bank") (which expression shall include its successors, transferees and assigns) is agreeable to making available to Outback Steakhouse
Japan KK, a company incorporated in Japan under registered number 0104-01-050821 and whose registered office is at Fukuda Building West 2F, 11-3, Akasaka 2-chome, Minato-ku, Tokyo (the "Borrower") a multi-currency revolving credit facility in a principal amount not
exceeding $10,000,000.00 by way of short term cash advances on the following terms and subject to the following conditions:

DEFINITIONS

In this Agreement:-

            "Advance" means the principal amount of each advance made or to be made to the Borrower under the Revolving Credit Facility;

            "Agreement" means the agreement resulting from the Borrower countersigning this letter;

            "Alternative Currency" means Japanese Yen or any other immediately available and freely transferable and convertible currency other than dollars acceptable to
the Bank;

“Applicable Facility Fee Rate” has the meaning set forth in Clause 13.2.

“Applicable Margin” has the meaning set forth in Clause 6.1(c).

            "Associate Bank" means any bank or corporation which is wholly owned by the ultimate holding corporation of the Bank;

            "Bank Basis" means a calculation made on the basis of the actual number of days elapsed or, as appropriate, to elapse and a 365 day year in the case of sterling
and a 360 or 365 day year (as is customary in the London Interbank Market) in the case of any other currency;

            "Borrowed Money" means Indebtedness incurred in respect of (i) money borrowed or raised, (ii) any bond, note, loan stock, debenture, bill of exchange,
commercial paper or similar instrument (including share capital carrying a right to a preferential dividend or redeemable at the option of shareholders or the issuer thereof at any time), (iii) acceptance or documentary credit facilities, (iv) rental payments under
leases and hire-purchase agreements (excluding any amounts applicable to finance charges) (in all cases whether in respect of land, buildings, machinery, equipment or otherwise) entered into primarily as a method of raising finance or of financing the acquisition of
the asset the subject thereof, (v) interest rate swaps, currency swaps, financial options, futures contracts or other similar instruments, (vi) guarantees, bonds, stand-by letters of credit or other instruments issued in connection with the performance of contracts,
(vii) obligations under conditional or instalment sale agreements or any other obligation to pay the deferred purchase or construction price of assets or services, except trade accounts arising in the normal course of day-to-day trading, (viii) guarantees or other
assurances against financial loss in respect of Indebtedness of any person falling within any of (i) to (vii) above and (ix) all other Indebtedness under any arrangement entered into primarily as a method of raising finance (and not in the normal course of, and as
part of, day-to-day trading) and which is not referred to in the foregoing paragraphs of this definition;

            "Business Day" means a day (other than a Saturday or a Sunday) on which banks and foreign exchange markets are open for domestic and foreign exchange business
in London and, in the case of any transactions requiring payment in the principal domestic financial centre for the relevant currency, such principal domestic financial centre;

            “Closing Date” means October __, 2003.

“Commitment” means $10,000,000.00 as such amount may be reduced from time to time pursuant to this Agreement.

            "Dangerous Substances" means any radioactive emissions and any natural or artificial substances (whether in solid or liquid form or in the form of a gas or
vapour and whether alone or in combination with any other substances) capable of causing harm to man or any other living organism supported by the environment, or damaging the environment or public health or welfare, including any controlled, special, hazardous,
toxic, radioactive or dangerous waste;

            "Debt Repayments" means in respect of the Group and for the period being measured the aggregate amount of all payments of principal made under or in connection
with any Borrowed Money, all as shown in the relevant accounts of the Borrower delivered pursuant to this Agreement;

            "Dollar Amount" means in relation to any Advance that is or is to be denominated in dollars the principal amount thereof and in relation to any Advance that is
or is to be denominated in any other currency the principal amount of dollars that would be required to purchase the amount of such Advance in such currency at the Bank's spot rate for the purchase of such currency with dollars in the London Interbank Market at 11am
on the third business day prior to the day on which such Advance was or, as the case may be, is to be made;

            "Environmental Law" means all laws, regulations, codes of practice, circulars, guidance notices and the like binding on any member of the Group, (whether of the
United Kingdom or elsewhere and including any directive of the European Community which is so binding) concerning the protection of human health or the environment or the conditions of the workplace or the generation, transportation, storage, treatment or disposal of
Dangerous Substances;

            "Environmental Licences" means any permit, licence, authorisation, consent or other approval required by any Environmental Law;

            "Event of Default" means any one of the events specified in Clause 12 or any event which with the passing of time or the giving of notice or the making of any
determination, formation of any opinion or fulfilment of any other condition would constitute such an event;

“Facility Fee Determination Date” has the meaning set forth in Clause 13.2.

“Facility Fee Payment Date” means each March 31, June 30, September 30 and December 31.

            "Finance Charges" means in respect of the Group and the period being measured, the aggregate amount of the interest, commission, fees and other finance charges
of whatsoever nature (including, without limitation, any capitalised interest and rental payments under finance leases and hire purchase agreements but excluding any amount thereof attributable to the payment of capital) incurred by the Group during such period under
or in connection with any Borrowed Money, in each case as shown in the relevant accounts of the Borrower delivered pursuant to this Agreement;

            "Finance Documents" means this Agreement, the Guarantee, the Bank's General Conditions, any Hedge Agreements, any certificates or notices given pursuant to this
Agreement and any other document designated as such by the Bank;

            "Group" means the group comprising the Borrower and each of its subsidiary undertakings from time to time and any other person(s) the accounts of which are
consolidated with those of the Borrower in accordance with generally accepted accounting principles and bases from time to time as applied, on a consistent basis, to the Borrower and "member of the Group" shall be construed accordingly;

            "Guarantee" means the guarantee in form and substance satisfactory to the Bank dated on or about the date hereof and made by the Guarantors in favour of the
Bank as security for the Borrower’s obligations to the Bank and shall include any other guarantee or security given to the Bank by the Guarantors as security for the performance of the Borrower’s obligations to the Bank;

            "Guarantor" means Outback Steakhouse, Inc., Outback Steakhouse International, Inc. and Outback Steakhouse International, L.P.

            "Hedge Agreement" means any interest rate hedging agreement entered into by the Borrower from time to time with the Bank with respect to one or more interest
rate swap transactions, interest rate cap transactions, interest rate floor transactions, interest rate collar transactions, swap agreements (as defined in 11 U.S.C. § 101) or other similar transactions or agreements, together with all amendments and schedules
thereto and confirmations thereof from time to time.

            "Indebtedness" includes any obligation whether as principal or as surety for the payment or repayment of money, whether present or future, actual or
contingent;

            "Interbank Rate" means in relation to any Interest Period or other period the rate (rounded upwards if necessary to 4 decimal places) at which the Bank is
offered deposits in the currency of the relevant Advance or unpaid sum by leading banks in the London Interbank Market at or about 11 a.m. (London time) on the Quotation Day in each case for a period equal to such Interest Period or other period and in an amount
comparable with the amount of such Advance or unpaid sum;

            "Interest Period" means, in relation to an Advance, the period of such Advance being one, two, three or six months as selected by the Borrower (or such other
period as the Bank and the Borrower may agree) and in the absence of such selection one month and provided that:-

if any Interest Period relating to any Advance would otherwise end on a day which is not a Business Day, that Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry
such Interest Period over into another calendar month in which event such Interest Period shall end on the last preceding Business Day;

any Interest Period which commences on the last day of a calendar month and any Interest Period which commences on a day for which there is no numerically corresponding day in the calendar month which is the relevant number of
monthsafter the commencement of such Interest Period shall end on the last Business Day of the calendar month which is the relevant number of months after the commencement of such Interest Period; and

(c)           no Interest Period selected or deemed to have been selected by the Borrower shall end after the Final Repayment Date;

            "Mandatory Costs Rate" means in relation to any Interest Period or other period, the cost to the Bank of complying with all reserve, special deposit, capital
adequacy, solvency, liquidity ratios, fees or other requirements of or imposed by the Bank of England, the Financial Services Authority, the European Central Bank or any other governmental or regulatory authority for the time being attributable to each Advance or any
unpaid sum (rounded up if necessary to 4 decimal places) as conclusively determined by the Bank;

            "Notice of Utilisation" means the notice substantially in the form set out in the Schedule;

“Outback Credit Agreement” means that certain Credit Agreement dated December 21, 1999, by and among Outback Steakhouse, Inc., the banks party thereto, Wachovia Bank, National Association, as Agent, Wachovia
Securities, Inc., as Sole Arranger, SunTrust Bank, Tampa Bay, as Syndication Agent and SouthTrust Bank, National Association, as Documentation Agent, as amended by that certain First Amendment to Credit Agreement dated December 20, 2000 as in effect on the date
hereof without regard and without giving effect to any waivers given by the Banks (as defined in the Outback Credit Agreement) after the date hereof or amendments agreed to by Outback Steakhouse, Inc. and the Banks (as defined in the Outback Credit Agreement) after
the date hereof.  Any definitions, terms, covenants, representations or other provisions of the Outback Credit Agreement that are incorporated herein will continue to be effective for purposes of this Agreement and the other Finance Documents, notwithstanding
that the indebtedness under the Outback Credit Agreement has been or hereafter may be partially or fully repaid or the fact that the Outback Credit Agreement otherwise might be terminated.

            "Permitted Encumbrance" means any Security Interest (or in the case of (b) only, any lien):

(a)           created or outstanding with the prior written consent of the Bank;

(b)           arising by operation of law (and not as a result of any default or omission on the part of any member of the Group) in the ordinary course of business and securing
obligations not more than three months overdue;

(c)           arising under any retention of title arrangements (other than "all moneys" retention of title arrangements) entered into in the ordinary course of trading and not entered
into primarily for the purpose of securing any Indebtedness; and

(d)           over goods or documents of title to goods arising in the ordinary course of trading in connection with documentary credit transactions where such Security Interest
secures only so much of the acquisition cost or selling price (and amounts incidental thereto) of such goods and products which is required to be paid within 180 days after the date upon which the same was first incurred;

            "Quotation Day" means in relation to any Interest Period or other period the day on which interest rate quotations are ordinarily given by banks for delivery on
the first day of the Interest Period or other such period provided that if quotations would ordinarily be given on more than one day, the Quotation Day for such period shall be the last of those days prior to the commencement of such Interest Period or other
period;

            "Repayment Date" means, in relation to an Advance, the last day of the Interest Period relating thereto for which such Advance was made and the "Final
Repayment Date" shall mean 21st December 2004;

            "Revolving Credit Facility" means the revolving credit facility of up to $10,000,000.00 (Ten Million US Dollars) to be made available by the Bank to the
Borrower in accordance with the provisions of this Agreement;

            "Security Interest" means any mortgage, charge, pledge, lien, encumbrance, conditional sale or other title retention agreement, trust arrangement, preferential
right or other agreement or arrangement the economic or commercial effect of which is similar to security or any other security interest whatsoever, howsoever created or arising;

            "subsidiary" and "subsidiary undertaking" shall have the meanings given to them by Sections 736 and 258 (respectively) of the Companies Act 1985 (as
amended);

            "Treaty" means the treaty establishing the European Community being the Treaty of Rome of 25th March 1957, as amended by the Single European Act 1986 and the
Maastricht Treaty (which was signed at Maastricht on 7th February 1992 and came into force on 1st November 1993), as further amended from time to time; and

            "Unutilised Amount" means, at any time, the maximum aggregate amount of the Revolving Credit Facility available under this Agreement (as the same may from time
to time be reduced or cancelled in accordance with the provisions hereof) less the aggregate Dollar Amountof Advances made and not prepaid or repaid at such time.

Definitions in Outback Credit Agreement.  The following terms when used in this Agreement or any of the other Finance Documents shall, unless otherwise defined herein or therein, have
the same meanings as set forth in the Outback Credit Agreement:  “Affiliate”, “Consolidated Subsidiary”, “Fiscal Year”, “Fiscal Quarter”, “Subsidiary”, “GAAP”, “Consolidated Total
Debt”, “Controlled Group”, “EBITDA”, “ERISA”, “PBGC”, “Person”, and “Plan”.

Headings in this Agreement are inserted for convenience only and shall be ignored in construing this Agreement.  Expressions herein before defined shall have the same meanings herein.  Unless the context otherwise requires,
words denoting the singular number only shall include the plural and vice versa and words denoting persons shall include companies, corporations and partnerships and vice versa.

Any reference in this Agreement to:-

"accounts" are references to the balance sheet and profit and loss account and cashflow statement of the relevant company together with all relevant notes thereto or reports thereon, whether required by law or regulation or
otherwise (and, if applicable, both on a consolidated and an unconsolidated basis);

the "assets" of any person shall include the undertaking, property, revenues and assets (present and future) of whatsoever nature of such person;

a "Clause" or a "Schedule" are, unless otherwise provided, references to clauses of and schedules to this Agreement;

"$" or "dollars" is a reference to the lawful currency of United States of America;

"euros" is a reference to the single currency of participating member states;

"fees" shall, subject to any contrary indication, be construed so as to include (where applicable) disbursements and any VAT on such fees and/or disbursements required to be charged;

"generally accepted accounting principles and bases" means in relation to a company the generally accepted accounting principles and bases of the jurisdiction in which such company is incorporated;

"month" is a reference to a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month save that where any such period would otherwise end on a day which is not a
Business Day, it shall end on the next Business Day provided that, if a period starts on the last day of a calendar month or there is no numerically corresponding day in the month in which that period ends, that period shall end on the last Business Day in that later
month (and references to "months" shall be construed accordingly);

"national currency unit" means the unit of currency (other than the euro) of a participating member state;

"participating member states" is a reference to the member states of the European Union which adopt or have adopted a single currency in accordance with the Treaty;

a "person" shall be construed as a reference to any person, firm, company, partnership, corporation or unincorporated body of persons or any State or Government or any agency thereof;

"tax" shall be construed so as to include any present or future tax, levy, impost, duty, fee, deduction or withholding or other charge of a similar nature (including, without limitation, any penalty or interest payable in
connection with any failure to pay or any delay in paying out any of the same) and "taxes" and "taxation" shall be construed accordingly;

an amount denominated in “$” (dollars) shall, where appropriate in Clauses 10, 11 and 12 refer to the equivalent of such amount in any other currency; and

a time of day is a reference to London time.

Any reference in this Agreement to an agreement or document shall be construed as a reference to that agreement or document as the same may have been, or may from time to time be, varied, amended, supplemented, substituted, novated
or assigned.

References in this Agreement to statutes and/or statutory provisions shall be construed as referring to such statutes or statutory provisions as respectively replaced, amended, extended, consolidated or re-enacted from time to time
and shall include any order, regulation, instrument or other subordinate legislation made under the relevant statute or statutory provisions.

To the extent that there is any conflict between the terms of this Agreement and the terms of the Bank's General Conditions, the terms of this Agreement shall prevail.

Nothing in this Agreement is intended to confer on any person any right to enforce any provision of this Agreement which that person would not have had but for the Contracts (Rights of Third Parties) Act 1999.

PURPOSE

The Borrower undertakes to the Bank that each Advance made to it shall be applied solely in and towards the refinance  of existing Japanese Yen borrowings and to finance the expansion of overseas outlets of the
Borrower.

AMOUNT

Subject to the terms and conditions of this Agreement, the Bank agrees to make available to the Borrower a revolving credit facility in an aggregate amount at any one time of up to $10,000,000.00 [Ten Million US Dollars] by way of
short term cash advances to be denominated in dollars or any Alternative Currency.

CONDITIONS PRECEDENT

The rights of the Borrower under this Agreement to utilise the Revolving Credit Facility are conditional upon the Bank having received, in form and substance satisfactory to it, all of the following by October 31, 2003and in
the event that this does not occur the Revolving Credit Facility and the Bank's obligations in relation to the provision of the Revolving Credit Facility shall be cancelled and reduced to zero:-

(a)        in relation to the Borrower:-

(i)         a copy, certified by a director of the Borrower to be true, complete and up to date, of its memorandum and articles of association, certificate of incorporation and any certificates
of incorporation on change of name;

(ii)         a copy, certified as aforesaid, of minutes of the meeting(s) of the board of directors of the Borrower at which valid resolutions were adopted approving the Finance Documents to
which it is a party and all the other documents relating thereto and authorising a person or persons to sign and deliver (or execute as a deed, if appropriate) the Finance Documents to which it is a party and to sign and deliver or despatch all other such documents,
notices or communications to be given by it pursuant to or in connection with such Finance Documents;

(iii)        a list of names and specimen signatures, certified as aforesaid, of each of the persons referred to in sub-paragraph (ii) above; and

(iv)        a certificate signed by a director of the Borrower stating, inter alia, that the signing and/or execution of the Finance Documents to which it is a party and the exercise of its rights
and the performance of its obligations thereunder is within its corporate powers and will not cause any limitation on its borrowing or other powers or on the right of its directors to exercise any such powers (whether contained in its constitutional documentation or
in any agreement or instrument or imposed by statute or regulation or otherwise) to be exceeded;

(b)        in relation to the Guarantors:-

(i)         a copy, certified by the secretary or an assistant secretary of each of the Guarantors, to be true, complete and up-to­ date, of the constitutional documentation of the
Guarantors;

(ii)         a copy, certified as aforesaid, of minutes of the meeting(s) of the Board of Directors of each of the Guarantors at which valid resolutions were adopted approving the Finance
Documents to which it is a party and all of the documents relating thereto and authorising a person or persons to sign and deliver (or execute as a deed, if appropriate) the Finance Documents to which it is a party and to sign and deliver or despatch all other such
documents, notices or communications to be given by it pursuant to or in connection with such Finance Documents;

(iii)        a list of names and specimen signatures, certified as aforesaid, of each of the persons referred to in sub-paragraph (ii) above; and

(iv)        a certificate signed by the secretary or an assistant secretary of each of the Guarantors stating, inter alia, that the signing and/or execution of the Finance Documents to which it is a
party and the performance of its obligations thereunder is within its corporate powers and will not cause any limitation upon its borrowing or other powers or on the right of its Directors to exercise any such powers (whether contained in its constitutional
documentation or in any agreement or instrument or imposed by statute or regulation or otherwise) to be exceeded;

(c)        the Guarantee duly executed by the parties thereto;

(d)        evidence that there have been granted (either unconditionally or with such conditions as are acceptable to the Bank) and are in full force and effect, all approvals, registrations,
licences and consents necessary for the Borrower and each of the Guarantors to execute and deliver the Finance Documents to which it is a party and all other documents referred to therein and to perform their respective obligations thereunder;

(e)        relevant bank mandates and other forms required for the operation of any accounts of the Borrower with the Bank;

(f)         details of all banking and credit facilities and any similar arrangements provided to the Borrower by any bank or other financial institution and the terms of and the basis for
continuation of such facilities and arrangements to the extent that they are to be maintained following the initial utilisation of the Revolving Credit Facility;

the initial fee payable pursuant to Clause 13.1;

a consolidated balance sheet of the Borrower and its consolidated subsidiaries as of the fiscal quarter ending March 31, 2003 and the related consolidated statements of income, shareholder’s equity and cash flows for such fiscal
period, setting forth in each case in comparative form the figures for the previous fiscal period all prepared by the Borrower and certified by the chief financial officer of the Borrower as to fairness, presentation, generally accepted accounting principles and
consistency, with such certification to be free of exceptions and qualifications not acceptable to the Bank.

legal opinion in relation to the Guarantors from Joseph J. Kadow, General Counsel, Vice President and Secretary of Outback Steakhouse, Inc.; and

(j)         such other documents and information as the Bank may reasonably require.

UTILISATION OF THE REVOLVING CREDIT FACILITY

Subject as provided below and to:-

(a)        the conditions set out in Clause 4 having been fulfilled by no later than 10.00 a.m. on the fourth Business Day preceding the date on which the first Advance is to be made
hereunder;

(b)        no Event of Default having occurred; and

(c)        the Bank having received a Notice of Utilisation by no later than 9.30 a.m. on the third Business Day preceding the proposed date on which the relevant Advance is requested to be made (or
such later time as the Bank may agree), duly completed and signed by the Borrower and specifying:-

(i)         the date on which the proposed Advance is to be made (which shall be a Business Day);

(ii)         the duration of the Interest Period which shall commence on the date on which the proposed Advance is to be made and end on or before the Final Repayment Date;

(iii)        the currency of the proposed Advance which shall be dollars or an Alternative Currency;

(iv)        the amount of the proposed Advance, the Dollar Amount of which shall be:-

(a)        equal to, or less than, the Unutilised Amount on the proposed date on which the Advance is to be made, (adjusted for this purpose, in accordance with Clause 5.2); and

(b)        if less than the Unutilised Amount on the date on which the proposed Advance is to be made, a minimum amount of $100,000.00 (or its equivalent in any other Alternative Currency) or, if
more, in integral multiples of $100,000.00 (or its equivalent in any other Alternative Currency) or such other amount as may be agreed by the Bank,

together with evidence showing that such Advance will be used for its agreed purposes in form and substance satisfactory to the Bank,

the Bank shall, upon and subject to the terms and conditions of this Agreement, make available such Advance to the Borrower on the day specified in and in accordance with the Notice of Utilisation, or if such day is not a Business Day
on the next succeeding Business Day provided that:-

(a)        no Advances shall be made available hereunder after the date falling one month prior to the Final Repayment Date and accordingly the obligations of the Bank to make the Revolving Credit
Facility available shall be cancelled on such date; and

(b)        there shall never be more than 8 Advances made during any calendar month and more than 8 Advances in total outstanding at any time.

5.2        For the purpose of determining the maximum amount of a proposed Advance, the Unutilised Amount shall be:

(i)         increased by the aggregate principal Dollar Amount of outstanding Advances which will become repayable on or before the date on which the proposed Advance is to be made;
and

(ii)         reduced to take account of the DollarAmount of any other Advance to be made on or before the proposed date on which such Advance is to be made and any reduction in the
Revolving Credit Facility which it is known will occur during the proposed Interest Period as a result of a reduction in, or cancellation of part of the Revolving Credit Facility pursuant to this Agreement.

INTEREST

	

	
(a)

	
The rate of interest applicable to each Advance for the Interest Period selected or deemed to be selected for such Advance shall be the rate per annum determined by the Bank to be the aggregate of (i) the Applicable Margin, plus (ii)
the Interbank Rate and plus (iii) the Mandatory Costs Rate (if any); and

(b)        Interest on each Advance at the rate aforesaid shall be calculated for the Interest Period for which such Advance was made on the Bank Basis, shall accrue from day to day and be paid in
the currency of such Advance on the Repayment Date for such Advance (and, in the case of an Advance with an Interest Period exceeding six months, on the last day of each successive period of six months during the period for which such Advance is
outstanding).

(c)        “Applicable Margin” shall be determined quarterly based upon the ratio of Consolidated Total Debt (calculated as of the last day of each Fiscal Quarter) to EBITDA (calculated
as of the last day of each Fiscal Quarter for the Fiscal Quarter then ended and the immediately preceding three Fiscal Quarters), as follows:

Ratio of Consolidated

Total Debt to EBITDA                 Applicable Margin

Greater than 1.5                         1.075%

Greater than 1.0 but

equal to or less than 1.5               .825%

Less than or equal to 1.0                           .70%

The Applicable Margin shall be determined effective as of the date (herein, the “Rate Determination Date”) which is 60 days after the last day of the Fiscal Quarter as of the end of which the foregoing ratio is being
determined, based on the quarterly financial statements for such Fiscal Quarter, and the Applicable Margin so determined shall remain effective from such Rate Determination Date until the date which is 60 days after the last day of the Fiscal Quarter in which such
Rate Determination Date falls (which latter date shall be a new Rate Determination Date); provided that (i) for the period from and including the Closing Date to but excluding the Rate Determination Date next following the Closing Date, the Applicable Margin shall be
0.70%, (ii) in the case of any Applicable Margin determined for the fourth and final Fiscal Quarter of a Fiscal Year, the Rate Determination Date shall be the date which is 120 days after the last day of such final Fiscal Quarter and such Applicable Margin shall be
determined based upon the annual audited financial statements for the Fiscal Year ended on the last day of such final Fiscal Quarter,  and (iii) if on any Rate Determination Date Outback Steakhouse, Inc. shall have failed to deliver to the Bank the financial
statements required to be delivered pursuant to Section 9(a)(1) or Section 9(a)(2) of the Guarantee with respect to the Fiscal Year or Fiscal Quarter, as the case may be, most recently ended prior to such Rate Determination Date, then for the period beginning on such
Rate Determination Date and ending on the earlier of (A) the date on which Outback Steakhouse, Inc. shall deliver to the Bank the financial statements to be delivered pursuant to Section 9(a)(2) of the Guarantee with respect to such Fiscal Quarter or any subsequent
Fiscal Quarter, or (B) the date on which Outback Steakhouse, Inc. shall deliver to the Bank annual financial statements required to be delivered pursuant to Section 9(a)(1) of the Guarantee with respect to the Fiscal Year which includes such Fiscal Quarter or any
subsequent Fiscal Year, the Applicable Margin shall be determined as if the ratio of Consolidated Total Debt to EBITDA was more than 1.5 at all times during such period.  Any change in the Applicable Margin on any Rate Determination Date shall result in a
corresponding change, effective on and as of such Rate Determination Date, in the interest rate applicable to each Advance outstanding on such Rate Determination Date; provided, that no Applicable Margin shall be decreased pursuant to this Clause 6.1(c) if an Event
of Default is in existence on the Rate Determination Date.

If any sum due and payable by the Borrower hereunder is not paid on the due date therefor or if any sum due and payable by the Borrower under any judgment of any court in connection herewith is not paid on the date of such judgment,
such unpaid sum shall bear interest until the obligation of the Borrower to pay any such sum is discharged in full at the rate per annum which is determined by the Bank to be the aggregate of (1) the Applicable Margin, (2) the Interbank Rate for such periods as the
Bank may reasonably select, (3) the applicable Mandatory Costs Rate (if any) and (4) three per cent (3%) with such interest being compounded at the end of each period selected by the Bank.

ALTERNATIVE INTEREST RATES

Notwithstanding anything to the contrary herein contained, if prior to the commencement of any Interest Period or other period selected for or deemed selected for any Advance the Bank shall have determined that:-

(a)        by reason of circumstances affecting the London Interbank Market adequate and fair means do not exist for ascertaining the Interbank Rate applicable to such Interest Period pursuant to
Clause 6.1 or other period pursuant to 6.2;  or

(b)        deposits in the currency of such Advance are not or will not be available to the Bank in the London Interbank Market in sufficient amounts in the ordinary course of business to fund any
Advance for such Interest Period or other period,

then the Bank shall as soon as practicable give written notice of such determination or notice to the Borrower.

In the case of Clause 7.1 if any Advance has not yet been made it shall not be so made, subject to the other provisions of this Clause.

During the period of thirty days from the date of any such notice given pursuant to Clause 7.1 the Bank shall establish (in consultation with the Borrower) an alternative basis (in this Clause  7.3 referred to as the
"Substitute Basis") for funding further Advances (including but without limiting the generality hereof, agreeing suitable alternative lengths of Interest Periods and agreeing the fixing of an alternative interest rate to be substituted for the rate which would
otherwise have been fixed pursuant to Clause 6).  The Substitute Basis shall reflect all costs to the Bank of making available and maintaining any Advance and the Applicable Margin and shall be computed in a manner and for a period as similar to those
provided in Clause 6.1 as is reasonably possible.

If the Bank shall agree such Substitute Basis with the Borrower it shall again be open to the Borrower (subject to all the other terms of this Agreement) to request that Advances be made and the Borrower shall, until the
circumstances specified above no longer exist, pay interest on new Advances on such Substitute Basis.  In default of agreement upon a mutually acceptable Substitute Basis within 30 days of the notice referred to in Clause 7.1 the Bank shall be discharged
from any obligation to make available further Advances until in the Bank's opinion the circumstances specified above no longer exist.

The certificates, confirmations and determinations of the Bank as to any of the matters referred to in this Clause 7 shall, save for manifest error, be conclusive and binding on the Borrower.

REPAYMENT

Subject to the other provisions of this Agreement, each Advance shall be repaid in full in the currency of such Advance by the Borrower to the Bank on its Repayment Date and the Borrower shall ensure that all Advances, together with
all interest accrued thereon, are repaid in full on or before the Final Repayment Date.

If on the date which any Advance is to be made (a "New Advance") the repayment of any outstanding Advance(s) is due to the Bank pursuant to Clause 8.1 (an "Old Advance"), then the Bank shall (without prejudice to the
obligations of the Borrower under Clause 8.1) apply the whole or such part of the New Advance in or towards satisfaction of the repayment of the Old Advance pursuant to Clause 8.1 including, if appropriate, purchasing the currency of the Old Advance with the currency
of the New Advance.  The Bank shall advise the Borrower of the net amount if any due from one party to the other after the application of funds as aforesaid and such net amount due shall be paid by the Borrower or the Bank, as the case may be, on such
date.

The Dollar Amount of any repayment made by any Borrower pursuant to this Clause shall, in accordance with the provisions of this Agreement, be available to be redrawn.

CANCELLATION

The Borrower may, by giving to the Bank not less than fourteen (14) days prior written notice to expire at any time after the date of this Agreement cancel (without premium or penalty) with effect from the expiry of such notice the
whole of the portion of the Revolving Credit Facility which is not then being or will not then be utilised or any part thereof (provided that in the case of any cancellation of part of the Revolving Credit Facility, the part of the Revolving Credit Facility so
cancelled shall be a minimum amount of $500,000 or, if more, in integral multiples of $100,000 in which event the Revolving Credit Facility, and the commitment of the Bank to provide the same shall be cancelled or (as the case may be) appropriately reduced.  If
the Borrower shall so cancel the whole or any part of such portion of the Revolving Credit Facility which is not then being or will not then be utilised, then on the date of such cancellation the Borrower shall pay to the Agent any accrued commitment fee (under
Clause 13.2) on the commitment of the Bank to provide the Revolving Credit Facility so cancelled.  Once notice of cancellation of the whole or any part of the Revolving Credit Facility has been given by the Borrower, it shall not be open to the Borrower to
withdraw or revoke such notice or for the Borrower to utilise the whole or any part of the Revolving Credit Facility which is the subject of such notice.

The Borrower shall not be entitled to cancel any part of the Revolving Credit Facility otherwise than in accordance with this Clause and no amount cancelled may thereafter be utilised.

REPRESENTATIONS AND WARRANTIES

The Borrower represents and warrants to the Bank on each date that any Advance or other amount remains outstanding, or capable of being made or drawn down, under any of the Finance Documents as follows:-

(a)        it and each of its subsidiary undertakings is duly incorporated and validly existing under the laws of the jurisdiction in which it is incorporated as a limited liability company and is
duly authorised and empowered under the said laws to own its assets and to carry on its business and it has the power to execute, deliver and perform and has taken all necessary corporate action to authorise the execution and delivery of and the performance of its
obligations under the Finance Documents to which it is a party and all other documents referred to herein or therein to which it is a party;

(b)        neither it nor any of its subsidiary undertakings is in default under any agreement, instrument, arrangement, obligation or duty to which it is a party or by which it is or may be bound
and there is no action, litigation, lawsuit or proceeding taking place or pending or threatened against or affecting it before any court, judicial, administrative, arbitral or governmental body or agency which in any such case could result in any material adverse
change in its financial condition, assets, business or operations taken as a whole;

(c)        all actions, licences, consents, exemptions and registrations (including, without limitation filings with all governmental or any other regulatory body, authority, bureau or agency and any
consents or approvals required for the execution of, or the performance by it of its obligations under, the Finance Documents to which it is a party) required for the validity and enforceability of the Finance Documents to which it is a party have been obtained and
are in full force and effect and any condition contained therein or otherwise applicable thereto has been fulfilled or complied with;

(d)        all its obligations and liabilities under the Finance Documents to which it is a party constitute its direct, unconditional and general obligations and rank at least pari passu with all
its other present and future Indebtedness and liabilities other than in respect of Permitted Encumbrances;

(e)        at the date hereof all the information provided by it, or any of its subsidiary undertakings, any of their respective officers or any person on its/their behalf to the Bank in connection
with this Agreement is true and accurate in all material respects and neither it nor any of its subsidiary undertakings is aware of any material facts or circumstances that have not been disclosed to the Bank and which, if disclosed, could adversely affect the
decision of a person considering whether or not to provide finance to the Borrower on the terms and subject to the conditions of this Agreement;

(f)         no Dangerous Substance has been or is being used, disposed of, generated, stored, transported, dumped, deposited, buried or omitted at, on, from or under any premises (whether or not
owned, leased, occupied or controlled by it or any of its subsidiary undertakings) in circumstances where this might result in a liability on any such person, which, if proven, might in the opinion of the Bank have a material adverse affect on the ability of the
Borrower to perform its obligations under the Finance Documents;

(g)        all requisite Environmental Licences have been obtained and all Environmental Licences and other applicable Environmental Laws have at all times been complied with;

(h)        it has no subsidiaries or subsidiary undertakings other than those (if any) disclosed in writing to the Bank prior to the date hereof;

(i)         there are no Security Interests over or in respect of the whole or any part of its or any of its subsidiary undertakings' assets other than Permitted Encumbrances, if any;
and

(j)         no Event of Default has occurred.

COVENANTS AND UNDERTAKINGS

Positive Covenants

The Borrower covenants and undertakes with the Bank that so long as any Advance or other amount remains outstanding, or capable of being made or drawn down or any liability to the Bank subsists under any of the Finance Documents it
shall:-

(a)        furnish to the Bank as soon as the same becomes available and in any event within ninety (90) days after the end of each fiscal year, a consolidated balance sheet of the Borrower and its
consolidated subsidiaries as of the end of such fiscal year and the related consolidated statements of income, shareholder’s equity and cash flows for such fiscal year setting forth in each case in comparative form the figures for the previous fiscal year, all
prepared by the Borrower and certified by the chief financial officer of the Borrower as to fairness of presentation, generally accepted accounting principles and consistency, with such certification to be free of exceptions and qualifications not acceptable to the
Bank;

(b)        furnish to the Bank as soon as the same becomes available and in any event within forty-five (45) days after the end of each fiscal quarter, a consolidated balance sheet of the Borrower
and its consolidated subsidiaries as of the end of such fiscal quarter and the related consolidated statements of income, shareholder’s equity and cash flows for such fiscal quarter setting forth in each case in comparative form the figures for the previous
fiscal quarter, all prepared by the Borrower and certified by the chief financial officer of the Borrower as to fairness of presentation, generally accepted accounting principles and consistency, with such certification to be free of exceptions and qualifications not
acceptable to the Bank;

(c)        promptly furnish to the Bank such additional financial or other information as the Bank may from time to time reasonably require;

  (d)       comply with all lawful and applicable laws (including all Environmental Law) and regulations of all governmental and regulatory authorities relating to or affecting any of its or any of
its subsidiary undertakings' assets and/or business and will obtain and promptly renew from time to time and comply with the terms of all consents, approvals, authorisations, licences (including all Environmental Licences) and/or exemptions which may be necessary to
enable it properly to operate their respective business and for the Borrower to carry out its obligations under each of the Finance Documents;

(e)        notify the Bank in writing immediately on becoming aware of any Event of Default with a description of any steps which it is taking or considering taking in order to remedy or mitigate the
effect of the Event of Default or otherwise in connection with it;

(f)         notify the Bank promptly, and in any event within 14 days of its becoming aware of the same, in writing of any litigation or proceeding which is commenced, pending or threatened in
respect of it or any of its subsidiary undertakings, where the litigation concerned could result in a liability of more than $500,000 on the part of any of the same;

(g)        ensure and procure that at all times it and each of its subsidiary undertakings is able to pay their respective debts as they fall due and that any obligation owed to its or any of its
subsidiary undertakings' creditors is met on the due date therefor or within any applicable originally agreed credit period;

(h)        take out and fully maintain insurances for such risks, perils and contingencies and for such amounts and on such terms as are, in each case, normally insured against by prudent persons carrying
on the same class (or classes) of business as that carried on by it (including, in any event, cover in respect of loss of profit); and

shall open and maintain with the Bank a bank account, which shall be and at all times shall remain its primary operating account, and the Borrower shall ensure that its banking transactions are processed through such operating account,
including ensuring that any third party that is obliged to make payment to it from time to time makes such payment to such operating account with the Bank.

Negative Covenants

The Borrower covenants and undertakes with the Bank that so long as any Advance or other amount remains outstanding, or capable of being made or drawn down or any liability to the Bank subsists, under any of the Finance Documents it
shall not and shall procure that none of its subsidiary undertakings shall:-

(a)        carry out any business other than the business it presently carries out at the date hereof, nor shall it make or permit any change in the scope or nature of its business or cease to carry
on its business;

(b)        sell, transfer, assign, lease, charter, lend or otherwise dispose of or part with possession or the ownership of or any interest in any of its property, assets, revenues or undertaking or
any part thereof save in the ordinary course of business and shall not enter into or undertake any invoice discounting or factoring arrangements;

(c)        without the prior written consent of the Bank, sell, transfer, assign or otherwise dispose of any interest in any subsidiary or subsidiary undertaking;

(d)        enter into banking or other credit facility arrangements of whatsoever nature or any interest rate or other exchange or hedging agreement other than with the Bank or otherwise incur any
Borrowed Money obligations (other than under the Finance Documents in the case of the Borrower or as have been notified to the Bank pursuant to Clause 4.1(f) and approved by the Bank in writing or otherwise with the approval of the Bank in writing);

(e)        acquire, establish or permit to subsist any subsidiary or subsidiary undertaking or acquire any interest in, enter into or form any partnership or joint venture without the prior written
consent of Outback Steakhouse, Inc. and shall not permit any dormant subsidiary or subsidiary undertaking to carry out any activity or take any action which would result in such subsidiary or subsidiary undertaking ceasing to be dormant;

(f)         issue any shares, debentures or other securities without the prior written consent of Outback Steakhouse, Inc.;

(g)        amend its memorandum or articles of association or other constitutional documentation in any way or amend its accounting reference date without the prior written consent of Outback
Steakhouse, Inc.;

(h)        deal with its book or other debts or accounts receivable (however the same shall be described) otherwise than in the ordinary course of getting in and realising the same, which expression
shall not include or extend to the selling or assigning or in any other way factoring or discounting of any such debts or accounts receivable or otherwise.

EVENTS OF DEFAULT

In the event that:-

(a)        the Borrower shall fail to pay any sum required to be paid under any Finance Document in the case of principal or interest on the due date therefor or in the case of any other payment
within 3 Business Days of the due date therefor; or

(b)        the Borrower shall default in the due performance or observance of any other covenant, undertaking, condition or provision on its part contained in any Finance Document and such default is
not capable of remedy, or if in the opinion of the Bank capable of remedy, shall not have been remedied to the satisfaction of the Bank within 30 days of the earlier of the Bank serving notice on the Borrower requiring the same to be remedied and the Borrower
becoming aware of the same; or

(c)        any representation, warranty or statement made or deemed to be made by the Borrower in or pursuant to any Finance Document to which it is a party (including, without limitation, any
representation, warranty or statement in any certificate or notice made or delivered pursuant thereto) and which the Bank considers to be material shall be untrue or incorrect in any material respect when made or repeated or if any event occurs as a result of which
any such representation, warranty or statement if repeated at any time hereafter with reference to the facts subsisting at the time of such repetition, would be untrue or incorrect in any material respect; or

(d)          (i) any other Borrowed Money exceeding $500,000 in aggregate of any member of the Group shall by reason of breach or default become due and payable or capable of being declared
due and payable prior to its stated maturity or due date or if any such Borrowed Money is not paid at the maturity thereof or due date therefore (or within any originally stated applicable grace period) or, if payable on demand, is not paid on demand or if any member
of the Group fails to pay when due any amount payable by it under any present or future guarantee or indemnity in respect of Borrowed Money or if any Security Interest in respect of Borrowed Money created by any member of the Group becomes enforceable and steps are
taken to enforce the same; or

(ii) any Indebtedness incurred by any member of the Group under a Material Contract is not paid at the maturity thereof or due date therefore (or within any originally stated applicable grace period); or

(iii) there is a default under the terms of a Material Contract which would entitle any party thereto to terminate such Material Contract whether in accordance with its terms, as having been subject to a repudiatory breach or
otherwise howsoever.

As used herein, “Material Contract” means any contract which in the reasonable opinion of the Bank is a contract that is material to the
business of the Borrower].

(e)        any Material Member of the Group becomes insolvent or applies for or consents to or suffers the appointment of a liquidator, administrator, receiver, administrative receiver, encumbrancer,
trustee in bankruptcy or similar official of the whole or any part of its assets, business, property, revenues or undertaking or a petition for the appointment of an administrator of any such person is presented or any Material Member of the Group takes any
proceedings under any law, regulation or procedure for adjustment, deferment or rescheduling of its indebtedness or any part thereof or makes or enters into a general assignment or arrangement or composition with or for the benefit of its creditors or a moratorium
shall be declared on any of its indebtedness or any creditor of any Material Member of the Group exercises a contractual right to take over the financial management of such member of the Group or any Material Member of the Group is unable to pay its debts as defined
in section 123 Insolvency Act 1986 or any Material Member of the Group fails generally to pay its debts as and when they fall due or if proceedings are commenced or threatened against any Material Member of the Group which, if adversely determined, would result in a
liability on the part of any such person in excess of $500,000 or any similar event or occurrence shall take place under the laws of any other jurisdiction applicable to any Material Member of the Group.  As used herein, (1) a “Material Member of the
Group” means, as of any date, any member of the Group which accounts for (or in the case of a recently formed or acquired member would so account for on a pro forma historical basis) 10% or more of the Consolidated Total Assets of the Group as measured as of
the end of the then most recently ended fiscal quarter; and (2) “Consolidated Total Assets” means, at any time, the total assets of the members of the Group, determined on a consolidated basis, as set forth or reflected on the most recent consolidated
balance sheet of the Group, prepared in accordance with generally accepted accounting principles; or

(f)         any judgment or order in an amount exceeding  $500,000 made against any Material Member of the Group is not stayed or complied with within 30 days or a creditor attaches or takes
possession of, or a distress, execution, sequestration or other process is levied or enforced upon or sued out against, a material part of the undertakings, assets, rights or revenues of any such person and is not discharged within 30 days; or

(g)        an order is made or resolution is passed for the winding-up, liquidation or dissolution of any Material Member of the Group or analogous proceedings are taken or any Material Member of the
Group stops or threatens to stop payments generally or any Material Member of the Group ceases or threatens to cease to carry on its business or any part thereof; or

(h)        any event or occurrence which is analogous or similar to the matters referred to in paragraphs (d), (e), (f) or (g) above shall take place under the laws of any jurisdiction in relation
the Guarantor; or

(i)         there is any change in ownership of any of the issued ordinary shares of the Borrower which results in any single person or group of persons acting in concert (as defined in the City
Code on Takeovers and Mergers) acquiring control (as defined in Section 840 of the Income and Corporation Taxes Act 1988) of the Borrower, as the case may be, without the prior written consent of the Bank; or

(j)         it becomes unlawful or impossible or contrary to the terms of any consent, authority or other permission for the Borrower to perform or to continue to perform any of its obligations
under any of the Finance Documents to which it is a party or if any of such documents ceases to be in full force and effect or ceases to constitute the legal, valid and binding obligations of the Borrower enforceable in accordance with its respective terms;
or

(k)        any event or series of events (including without limitation any adverse change in the business, assets or financial condition of the Group) shall occur giving reasonable grounds in the
opinion of the Bank for the belief that the Borrower will not, or will not be able, to perform or comply with any of its obligations expressed to be assumed by it under or in connection with any of the Finance Documents to which it is a party; or

(l)         any governmental authority or any person or entity acting or purporting to act under any governmental authority shall have taken any action in order to condemn, seize or appropriate,
or to assume custody or control of any member of the Group or of all or any substantial part of the property or assets of any member of the Group or shall have taken any action to curtail the authority in the overall conduct of its business or operations of any
member of the Group; or

(m)       it becomes unlawful or impossible for the Guarantors to perform or to continue to perform any of its obligations under the Finance Documents to which it is a party; or

(n)        If any provision of this Agreement, a Hedge Agreement or any other Finance Document shall for any reason cease to be valid and binding on the Borrower or the Borrower shall deny or
disaffirm its obligations thereunder; or

(o)        If any provision of the Guarantee shall for any reason cease to be valid and binding on any Guarantor or any Guarantor shall deny or disaffirm its obligations thereunder; or

(p)        The occurrence of a Default (as defined in the Outback Credit Agreement) or an Event of Default (as defined in the Outback Credit Agreement) under the Outback Credit Agreement;
or

(q)        Any Guarantor shall fail to observe or perform any covenant or agreement contained in the Guarantee; or

(r)         The occurrence of an Event of Default (as defined in the Guarantee) under the Guarantee; or

(s)(i)      any Person or two or more Persons acting in concert shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities
Exchange Act of 1934) of 30% or more of the outstanding shares of the voting stock of Outback Steakhouse, Inc.; or (ii) as of any date a majority of the Board of Directors of Outback Steakhouse, Inc. consists of individuals who were not either (A) directors of
Outback Steakhouse, Inc. as of the corresponding date of the previous year, (B) selected or nominated to become directors by the Board of Directors of Outback Steakhouse, Inc. of which a majority consisted of individuals described in clause (A), or
(C) selected or nominated to become directors by the Board of Directors of Outback Steakhouse, Inc. of which a majority consisted of individuals described in clause (A) and individuals described in clause (B); or

(t)(i)      If Outback Steakhouse, Inc., at any time, fails to own 100% of the issued and outstanding capital stock of Outback Steakhouse International, Inc.; or (ii) if Outback Steakhouse, Inc., at any time,
fails to own directly or indirectly 100% of the general partnership interests of Outback Steakhouse International, L.P.; or (iii) if Outback Steakhouse, Inc., at any time, fails to own directly or indirectly 51% of the limited partnership interests of Outback
Steakhouse International L.P.; or (iv) if Outback Steakhouse International, L.P. at any time, fails to own, directly or indirectly, at least 51% of the capital stock (or equivalent equity interests) of the Borrower,

then in any such case and at any time thereafter while such event is continuing, the Bank may by written notice to the Borrower:-

(1)        declare that the obligations of the Bank to make or, as the case may be, maintain the Advances shall be cancelled, whereupon the same shall be cancelled; and/or

(2)        declare the principal amount of and all interest relating to each outstanding Advance and any other sums payable under the Finance Documents to be due and payable, whereupon the same shall
become immediately due and payable together with accrued interest thereon to the date of actual payment; and/or

(3)        declare that all or any part of the sums referred to in paragraph (2) above shall henceforth be repayable on demand; and/or

(4)        direct enforcement of, or take any other action in relation to the Guarantee; and/or

(5)        apply the rate of interest referred to in Clause 6.2 to all or any part of the principal amount of each outstanding Advance, any accrued interest and any other sums payable under the
Finance Documents; and/or

(6)        waive the Event of Default.

FEES AND EXPENSES

The Borrower will pay to the Bank a fee of $10,000 on the date of this Agreement.

The Borrower shall pay to the Bank a facility fee equal to the product of:  (i) the aggregate of the daily average amounts of the Bank’s Commitment, times (ii) a per annum percentage equal to the Applicable Facility Fee
Rate.  Such facility fee shall accrue from and including the Closing Date to and including the Final Repayment Date.  The facility fee shall be payable quarterly in arrears on the first Facility Fee Payment Date following each Facility Fee Determination
Date and on the Final Repayment Date; provided that should the Commitment be terminated at any time prior to the Final Repayment Datefor any reason, the entire accrued and unpaid facility fee shall be paid on the date of such termination.  The
“Applicable Facility Fee Rate” shall be determined quarterly based upon the ratio of Consolidated Total Debt (calculated as of the last day of each Fiscal Quarter) to EBITDA (calculated as of the last day of each Fiscal Quarter for the Fiscal Quarter then
ended and the immediately preceding three Fiscal Quarters) as follows:

Ratio of
Consolidated                                                    
      Applicable

Total Debt to
EBITDA                                                    
   Facility Fee Rate

Greater than
1.5                                                            
..25%

Greater than 1.0 

but equal to or less
than1.5                                                        
..20%

Less than or equal to
1.0                                                           
..175%

The Applicable Facility Fee Rate shall be determined effective as of the date (herein, the “Facility Fee Determination Date”) which is 60 days after the last day of the Fiscal Quarter as of the end of which the foregoing
ratio is being determined, based on the quarterly financial statements for such Fiscal Quarter, and the Applicable Facility Fee Rate so determined shall remain effective from such Facility Fee Determination Date until the date which is 60 days after the last day of
the Fiscal Quarter in which such Facility Fee Determination Date falls (which latter date shall be a new Facility Fee Determination Date); provided that (i) for the period from and including the Closing Date to but excluding the Facility Fee Determination Date next
following the Closing Date, the Applicable Facility Fee Rate shall be .175%; (ii) in the case of any Applicable Facility Fee Rate determined for the fourth and final Fiscal Quarter of a Fiscal Year, the Facility Fee Determination Date shall be the date which is 120
days after the last day of such final Fiscal Quarter and such Applicable Facility Fee Rate shall be determined based upon the annual audited financial statements for the Fiscal Year ended on the last day of such final Fiscal Quarter, and (iii) if on any Facility Fee
Determination Date Outback Steakhouse, Inc. shall have failed to deliver to the Bank the financial statements required to be delivered pursuant to Section 9(a)(1) of the Guarantee or Section 9(a)(2) of the Guarantee with respect to the Fiscal Year or Fiscal Quarter,
as the case may be, most recently ended prior to such Facility Fee Determination Date, then for the period beginning on such Facility Fee Determination Date and ending on the earlier of (A) the date on which Outback Steakhouse, Inc. shall deliver to the Bank the
financial statements to be delivered pursuant to Section 9(a)(2) of the Guarantee with respect to such Fiscal Quarter or any subsequent Fiscal Quarter, and (B) the date on which the Borrower shall deliver to the Bank annual financial statements required to be
delivered pursuant to Section 9(a)(1) of the Guarantee with respect to the Fiscal Year which includes such Fiscal Quarter or any subsequent Fiscal Year, the Applicable Facility Fee Rate shall be determined as if the ratio of Consolidated Total Debt to EBITDA was more
than 1.5 at all times during such period.  The Applicable Facility Fee Rate shall not be decreased pursuant to this Clause 13.2 if an Event of Default is in existence on the Facility Fee Determination Date.

Such facility fee shall be calculated on the Bank Basis and shall be payable in arrears as set forth above.

The Borrower shall reimburse the Bank promptly on demand (and without prejudice to such obligations and notwithstanding the other provisions of this Agreement authorises the Bank to deduct the same from any account of the Borrower
with the Bank from time to time to the extent that any of the following are outstanding) and on a full indemnity basis, for all fees and all expenses (including but not limited to all legal, travel and other out-of-pocket expenses and all VAT thereon) incurred by the
Bank in connection with the preparation, negotiation, completion, execution and, where applicable, registration and filing of the Finance Documents and all documents in connection therewith and shall reimburse the Bank for all expenses (including but not limited to
management time and all legal, travel and other out-of-pocket expenses and VAT thereon) incurred in connection with granting any waivers under or agreeing amendments to or variations in any of the same or in protecting any of its rights hereunder or thereunder or in
suing for or recovering any sums due to it or in the preservation or enforcement of any of its rights hereunder or thereunder.

The Borrower shall reimburse the Bank on demand in respect of liability to all stamp, registration and other like duties and taxes (including all VAT), if any, in each case payable in connection with the execution, delivery and
performance of the Finance Documents and all other documents in connection therewith whether by the Borrower or the Bank or any other party thereto and whether arising as a result of an election or otherwise or in connection with the enforcement of any of the Finance
Documents and all such other documents and will indemnify the Bank from any and all liabilities with respect to or resulting from any delay or omission to pay such duties or taxes.

Upon the occurrence of any Event of Default the Borrower shall reimburse the Bank for any subsequent operating and/or management charges or costs of the Bank relating to the Finance Documents (including the subsequent operation and
management of the Revolving Credit Facility), the matters contemplated thereby and the outstanding Advances, as determined by the Bank.

CHANGES IN CIRCUMSTANCES

If after the date of this Agreement by reason of (1) the introduction of or any change in law or in its interpretation, administration or application and/or (2) compliance with any new request, directive or requirement of whatsoever
nature, from or requirement of any central bank or other fiscal, monetary or competent authority (whether or not having the force of law):-

(a)        there is any increase in the cost to the Bank of agreeing to make, fund or maintain or of making, funding or maintaining all or any part of the Revolving Credit Facility or any Advance or
any unpaid sums due to it under any of the Finance Documents; or

(b)        the Bank suffers a reduction in the amount of any payment received or receivable by it or forgoes any interest or other return on or in relation to the Revolving Credit Facility or any
Advance or suffers a reduction in return on capital as a result of having entered into any of the Finance Documents and assumed or performed its obligations thereunder; or

(c)        the Bank becomes liable to make any payment on or calculated by reference to the amount of any sum received or receivable by it or owed to it under any of the Finance Documents (other than
tax on its overall net income or profits),

then the Borrower shall from time to time promptly on demand pay to the Bank amounts sufficient to indemnify the Bank against, as the case may be, any such cost, reduction, forgoing or liability provided always and it is hereby agreed
that:-

(i)         the Bank shall promptly notify the Borrower of the happening of such event; and

(ii)         at any time after receipt of notice under paragraph (i) and so long as the circumstances giving rise to such cost, reduction, forgoing or liability continue, the Borrower may on
giving the Bank not less than five Business Days’ irrevocable notice, cancel the Bank’s obligation to maintain the Revolving Credit Facility (whereupon the Revolving Credit Facility and the Bank's obligations thereunder shall be cancelled and reduced to
zero) and repay the whole (but not part only) of all outstanding Advances together with all interest and other sums payable by the Borrower to the Bank pursuant to any of the Finance Documents.  Determinations made by the Bank under this Clause 14.1 shall be
made in good faith and in the same manner as the Bank makes such determinations for its other borrowers who are similarly situated.

In the event that by reason of any change in applicable law, regulation or regulatory requirement or in the interpretation or application thereof after the date hereof the Bank shall be of the opinion that it has become unlawful,
illegal or otherwise prohibited for the Bank to maintain or give effect to all or any of its obligations as contemplated by any of the Finance Documents, the Bank shall give notice to the Borrower to that effect and thereupon, the liability of the Bank to make or, as
the case may be, to maintain the Revolving Credit Facility shall cease, the Revolving Credit Facility and the Bank's obligations in relation thereto shall be cancelled and reduced to zero and the Borrower shall repay to the Bank on or before the latest day (being, if
possible, the last Repayment Date of any outstanding Advance) permitted by such law, regulation or regulatory requirement all outstanding Advances, together with all interest and other sums outstanding and/or payable by the Borrower to the Bank pursuant to any of the
Finance Documents.

PAYMENTS

For the purposes of this Agreement, any payment to be made by the Borrower hereunder shall be made in immediately available funds not later than 11.00 a.m. local time on the due date to the account of the Bank at such branch and bank
in the principal financial centre of the country of the currency in which such payment is to be made (or to any other account at a bank and place in such financial centre which the Bank may from time to time specify).

If the country of any national currency in which any amount is expressed to be payable under this Agreement participates in Economic and Monetary Union ("EMU") in accordance with Article 109j of the Treaty, then:

any amount expressed to be payable under this Agreement in that national currency shall be made in euros; and

any amount so required to be paid in euros shall be converted from that national currency at the rate stipulated pursuant to Article 109l(4) of the Treaty and payment of the amount in euros derived from such conversion shall
discharge the obligation of the relevant party to pay such national currency amount in accordance with, and subject to, the regulations made pursuant to Article 109l(4).

If a change in any currency of a country occurs (including those contemplated by Clause 15.2 above) (a "currency change"), this Agreement will be amended to the extent that the Bank specifies to be necessary to reflect the
change in currency and to put the Bank in the same position, so far as possible, as it would have been in if no change in currency had occurred.

Without prejudice to Clause 15.3 above, any references in this Agreement to a Business Day, day-count fraction or other convention (whether for the calculation of interest, determination of payment dates or otherwise) will be
amended, with effect from or at any time after a currency change, to the extent that the Bank specifies to be necessary, to comply with, or otherwise reflect or accommodate, any generally accepted conventions and market practice applicable to obligations in the
relevant currency in the London Interbank Market.

The Bank shall promptly notify the Borrower of any amendment effected under Clauses 15.3 and 15.4 and any such amendment shall be binding on the Bank and the Borrower.

Without prejudice and in addition to any method of conversion or rounding prescribed by any EMU legislation, each reference in this Agreement to a minimum amount (or an integral multiple thereof) in a national currency unit to be
paid to or by the Bank shall be replaced by a reference to such reasonably comparable and convenient amount (or an integral multiple thereof) in the euro as the Bank may from time to time specify.

All sums received by the Bank under any of the Finance Documents, whether in respect of principal, interest, fees, costs or otherwise, shall be received in full without any set-off or counter-claim by the Borrower free and clear of
and without any deduction or withholding for or on account of any present or future income or other taxes, levies, imposts, duties, charges or withholdings of any nature whatsoever required by the country of Japan.  In the event that any such deduction or
withholding from any payment for the account of the Bank under any of the Finance Documents shall be required or in the event that any payment on or in relation to any amount received by the Bank on account of tax or otherwise shall be required to be made, in each
case under any present or future law, directive, regulation or practice, then the Borrower shall forthwith pay to the Bank such additional amounts as will result (after the making of such deduction, withholding or payment) in the receipt and retention by the Bank of
the same amount which would otherwise have been received and retained by it pursuant to such Finance Document had no such deduction, withholding or payment been made to the country of Japan. 

If any sum becomes due for payment pursuant to any Finance Document on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day unless such Business Day falls in a new calendar month in which
event such payment shall be made on the immediately preceding Business Day and the amount of any interest or other fee shall, if not already taken into account, be adjusted accordingly.

In the case of a partial payment under any Finance Document, the Bank may appropriate such amount in satisfaction of the obligations of the Borrower in such order as it shall in its absolute discretion think fit and any such
appropriation shall override any appropriation made by the Borrower or the Guarantors.

If the Borrower pays any increased amount under Clause 15.7 and the Bank actually receives or is granted a credit against or remission for any income or corporation tax payable by it, the Bank shall, to the extent that it can do so
without prejudice to the retention of the full amount of such credit or remission, reimburse to the Borrower such amount of such credit or remission as the Bank shall in its sole opinion have concluded to be applicable to such deduction or withholding.  Nothing
herein contained shall affect the right of the Bank to arrange its tax affairs as it thinks fit and in particular, the Bank shall be under no obligation to claim relief from any tax on its corporate profits or similar tax liability in respect of the imposition of
such tax and, if the Bank does claim any such relief, it shall be under no obligation to claim the same in priority to any other claims, reliefs, credits or deductions available to it and shall not in any event be obliged to disclose any matter relating to its tax
affairs or computations to any person.

If the Borrower is or becomes bound to pay any increased amount under Clause 15.7 then, so long as such obligation continues, it shall be entitled at any time on giving to the Bank not less than five Business Days’ irrevocable
notice to prepay the whole (but not part only) of all outstanding Advances together with all accrued interest and other amounts payable by the Borrower to the Bank pursuant to any of the Finance Documents and to cancel the whole (but not part only) of the Revolving
Credit Facility whereupon the Revolving Credit Facility and the Bank's obligations in relation thereto shall be cancelled and reduced to zero.

Prepayments

Subject to the payment of any and all amounts under Clause 18.1, the Borrower shall have the right to prepay Advances in whole from time to time, on giving the Bank 4 days notice in writing.

INTENTIONALLY OMITTED.

INDEMNITIES

The Borrower shall on demand by the Bank indemnify the Bank for all amounts as the Bank may certify to be necessary to compensate it for all costs, expenses, liabilities and losses sustained or incurred by it as a result of (1) any
default in payment by the Borrower of any sum under any of the Finance Documents when due, (2) any failure (by reason of any breach or default of any Borrower) to borrow in accordance with Clause 5, (3) the happening of any Event of Default and/or (4) any repayment
or prepayment of any Advance or any part thereof otherwise than in accordance with Clause 8.1 (including in each case but not limited to any losses or expenses sustained or incurred in liquidating or re-deploying deposits from third parties acquired to effect or
maintain any amounts paid or carried by the Bank, loss of interest and/or loss of margin).  The certificate of the Bank as to the aforesaid amounts shall, save for any manifest error, be conclusive.

Any payment or payments made to the Bank in a currency (the currency in which the relevant payment is being made is hereinafter referred to as the "Relevant Currency") other than the currency in which it is expressed to be due
hereunder (the "Due Currency") shall only constitute a discharge to the Borrower to the extent of the Due Currency amount which the Bank is able, on the date or dates of receipt by the Bank of such payment or payments in the Relevant Currency (or, in the case
of any such date which is not a Business Day, on the next succeeding Business Day) to purchase with the amounts so received by the Bank on such date or dates.   If the amount of Due Currency which the Bank is so able to purchase falls short of the Due
Currency amount originally due to the Bank under this Agreement the Borrower shall immediately reimburse the Bank in the Due Currency any such shortfall and shall indemnify the Bank against any direct loss or damage arising as a result of a failure to make such
reimbursement.   This indemnity shall constitute a separate and independent obligation from the other obligations contained in this Agreement. 

The Borrower shall on demand by the Bank indemnify the Bank and any receiver or other similar official appointed by the Bank and their respective officers, employees, agents and delegates (together the "Indemnified Parties")
against any cost or expense suffered or incurred by them or any of them which:

(i)         arises by virtue of any actual or alleged breach of any Environmental Law (whether by the Borrower, an Indemnified Party or any other person);

(ii)         would not have arisen if this Agreement or the other Finance Documents had not been executed; and

(iii)        was not caused by the negligence or wilful default of the relevant Indemnified Party.

SET-OFF

The Borrower hereby authorises the Bank to apply any credit balance (whether matured or unmatured) to which it is entitled on any of its accounts with the Bank in or towards satisfaction of any sum due to the Bank by it under any of
the Finance Documents. For this purpose, the Bank is hereby authorised in the name of the Borrower to do all acts (including breaking time deposits and purchasing one currency with another) and to sign all documents as may be required to effect such
application.  The Bank shall not be obliged to exercise any right conferred or acknowledged by this Clause 19 and nothing expressed or implied in any of the Finance Documents shall in any way affect any rights which the Bank may have under applicable
law.

ACCOUNTS AND CERTIFICATES

The Bank shall open and maintain on its books in accordance with its normal practice a loan account evidencing the amounts from time to time advanced by and owing to it hereunder which loan account shall be prima facie evidence of
such amounts.

Each certificate issued and determination made by the Bank under this Agreement of a rate of interest, calculation of fees, costs, expenses, liabilities, losses or otherwise shall, in the absence of manifest error, be
conclusive.

WAIVERS

No delay or omission of the Bank in exercising any right, power or privilege under any of the Finance Documents shall operate to impair such right, power or privilege or be construed as a waiver thereof and any single or partial
exercise of any such right, power or privilege shall not preclude any other or future exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies provided under any of the Finance Documents are cumulative and not exclusive
of any rights or remedies provided by law.

ASSIGNMENT

This Agreement shall be binding upon and inure for the benefit of the Borrower, the Bank and their respective successors.

The Borrower shall not assign or transfer any of its rights and/or obligations under any of the Finance Documents.

The Bank at any time may transfer all or any part of its rights, benefits and obligations under the Finance Documents by assigning to any one or more other banks (each of which is hereinafter in this Clause 22 called an "Assignee
Bank") all or any part of the Bank’s rights and benefits thereunder provided that (1) the Bank shall consult with the Borrower prior to any such transfer, (2) such Assignee Bank shall agree to perform that percentage of the Bank’s obligations
hereunder as corresponds to that percentage of the Bank’s rights and benefits so assigned to the Assignee Bank and (3) such Assignee Bank shall, by delivery of such undertaking or agreement as the Bank may approve, have become bound by the terms of the Finance
Documents, and in such circumstances the Bank may, if it so determines, act as agent for itself and the Assignee Bank for the purposes of the Finance Documents subject to receipt of appropriate indemnities and the Assignee Bank and the Borrower entering into such
appropriate documentation with the Bank as the Bank may require.  Notice of any such transfer shall promptly be given to the Borrower and the Borrower shall execute such documents as the Bank shall require in order to give effect to any such transfer.  For
this purpose and for the purpose of entering into any contractual arrangements with any person in relation to the Revolving Credit Facility or any matters contemplated by this Agreement the Bank may disclose to a potential Assignee Bank or any such person such
information about the Borrower and its assets and conditions as the Borrower shall have made available to the Bank hereunder or as shall be known to the Bank otherwise howsoever. 

If the Bank transfers its right, benefits and obligations under the Finance Documents as provided in Clause 22.3, all references in the Finance Documents to the Bank shall thereafter be construed as references to the Bank and its
Assignee Bank(s) to the extent of their respective participations, if any, and the Borrower shall thereafter look only to the Assignee Bank(s) (to the exclusion of the Bank) in respect of that proportion of the Bank’s obligations hereunder as corresponds to
such Assignee Bank’s respective participation therein and accordingly such Bank’s maximum liability hereunder shall be appropriately reduced and the Assignee Bank shall proportionately assume a maximum liability equivalent to such reduction in such
Bank’s maximum liability.

NOTICES

Save as otherwise provided herein, each notice, request, demand or other communication to be given or made under this Agreement shall be given in writing delivered personally or by letter by first class mail, or facsimile to the
address or facsimile number of the addressee set out below:

(1)        in the case of the Bank, if by facsimile to it at 0207 929 4645 and if delivered personally or by letter to it at London Branch, 3 Bishopsgate, London, EC2N 3AB, in each case marked for
the attention of Matthew Vickers;

(2)        in the case of the Borrower, if by facsimile to it at (404) 231-2167 Attention:  Greg Walther, with a copy to (813) 286-2247 Attention:  Robert Merritt, and if delivered
personally or by letter to it at Outback Steakhouse International, 3390 Peachtree Road, Suite 200, Atlanta, GA 30326, Attention:  Greg Walther, with a copy to Outback Steakhouse, Inc., 2202 North Westshore Boulevard, 5th Floor, Tampa, Florida 
33607, Attention:  Robert Merritt,

or at any other numbers or addresses or marked for the attention of such other person as the parties hereto may from time to time notify to each other.

Any notice, request, demand or other communication to be given or made under this Agreement shall be deemed to have been delivered, in the case of any notice, request, demand or other communication given or made by personal delivery
or facsimile, on delivery to the correct address or on despatch to the correct facsimile number unless delivered or despatched outside normal business hours when it shall be deemed to be delivered or despatched on the next Business Day and, in the case of any notice,
request, demand or other communication given or made by letter, two Business Days after being posted by first class mail, provided that each Notice of Utilisation and any notice given to the Bank pursuant to Clause 9.1 shall only be effective when received by the
Bank.

PARTIAL INVALIDITY

In the case that one or more of the provisions contained in this Agreement should prove to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions hereof shall not in
any way be affected or impaired thereby.

APPLICABLE LAW

The law of England and Wales is the law applicable to this Agreement.

For the exclusive benefit of the Bank, the Borrower irrevocably agrees that the courts of England and Wales are to have jurisdiction to hear and settle any dispute, suit, action or proceeding which arises out of or in connection with
this Agreement (together in this Clause 25 referred to as "Proceedings") save that nothing contained in this Clause 25 shall limit the right of the Bank to take Proceedings against the Borrower in any other court of competent jurisdiction.  The Borrower
irrevocably agrees only to bring Proceedings in the courts of England and Wales.

The Borrower irrevocably waives:-

         (a)            any right it may have to the trial by jury of Proceedings in any such court as is referred to in this Clause
25;

         (b)            any objection which it may have now or hereafter to the commencement, or to the venue, of any Proceedings in any
such court; and

         (c)            any claim that any such proceedings should be brought in a more convenient forum,

         and further irrevocably agrees that a judgment in any Proceedings brought in any competent court shall be conclusive and binding upon it and may be enforced in the courts of any other
jurisdiction.

The Borrower consents generally in respect of any Proceedings arising out of or in connection with this Agreement to the giving of any relief or the issue of any process in connection with such Proceedings, including, without
limitation, the making, enforcement or execution against any property or assets whatsoever of any order or judgment which may be made or given in such Proceedings.

The Borrower hereby irrevocably appoints the following as its agent to accept service of all legal process issued in England and Wales in any Proceedings against the Borrower or its assets:

Name:      Joseph J. Kadow, Esq., Vice President, General Counsel

               and Secretary

               c/o Outback Steakhouse, Inc.

Address:  2202 North Westshore Boulevard, 5th Floor

               Tampa, Florida  33607

Fax:         (813) 281-2114

(the "Service Agent").

         The Borrower agrees that any notice, demand or other communication to be given hereunder and any legal process shall be sufficiently served if delivered to the said Service Agent at its
address as specified in this Agreement or such other address in England and Wales as it may have notified to the Bank for such purpose.

If at any time such person as is referred to in Clause 25.5, or any successor appointed pursuant to this sub-clause, ceases to be the agent for service of process of the Borrower in respect of Proceedings in England and Wales
(whether in accordance with its terms of appointment, by virtue of its dissolution, its ceasing to have an office in England and Wales or otherwise), the Borrower shall promptly appoint another person acceptable to the Bank for this purpose, having an address for
service of process in England and Wales and promptly notify the Bank accordingly.  Failing such appointment within seven days after being required by the Bank to make the same, the Bank shall be irrevocably authorised to appoint any person (including itself), on
such person’s standard or usual terms for acceptance of such an appointment (if any), on behalf of the Borrower. By way of security, the Borrower hereby irrevocably appoints the Bank as its attorney to effect any such appointment.

Please confirm your agreement to and acceptance of the terms and conditions set out above on the attached copy of this letter.  The offer of the Revolving Credit Facility shall lapse and shall be deemed to have been withdrawn if
the Borrower does not agree and accept the terms hereof within 10 Business Days of the date of this letter.

Yours faithfully,

...........................................................................

For and on behalf of

WACHOVIA BANK, NATIONAL ASSOCIATION,

LONDON BRANCH

We hereby acknowledge our agreement to and acceptance of the terms and conditions set out in the letter of which the above is a true copy.

...............................................................

duly authorized for and on behalf of

Outback Steakhouse Japan KK

SCHEDULE

Notice of Utilisation

[On the headed notepaper of the Borrower]

To:        Wachovia Bank, National Association,

            London Branch

            3 Bishopsgate

            London EC2N 3AB

Dear Sirs,

1.         We refer to the facility agreement (as from time to time amended, varied, novated or supplemented) (the "Facility Agreement") dated October ___ 2003 and made between Outback
Steakhouse Japan KK as Borrower and Wachovia Bank, National Association, London Branch as Bank.  Terms used herein shall have the meanings ascribed to them in the Facility Agreement unless the context otherwise requires.

2.         We hereby give you notice that, pursuant to the Facility Agreement and on [date of proposed Advance], we wish to draw an Advance in the principal amount of [insert amount and
currency of the Advance (which shall be dollars or an Alternative Currency) ] for an Interest Period of [          ] upon the terms and subject to the conditions contained therein.

3.         We hereby certify that the Advance is to be used for the purposes set out in Clause 2 of the Facility Agreement.

4.         The Advance should be credited to the account of [specify account(s) into which such amount is to be transferred] for value on [date of proposed drawdown].

5.         We confirm that, at the date hereof, the representations and warranties set out in Clause 10 of the Facility Agreement are true and no Event of Default has occurred.

Yours faithfully,

......................................

for and on behalf of

Outback Steakhouse Japan KK

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