Document:

Amended and Restated Security Agreement, dated as of June 30, 2010

 Exhibit 10.4 to 2010 10-Q 

 
  

AMENDED AND RESTATED SECURITY AGREEMENT 

Dated as of June 30, 2010 

between 

WACHOVIA DEVELOPMENT CORPORATION, 

as the Borrower 

and 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION, 
 as the Agent for the Secured Parties 

and accepted and agreed to by 

CONVERGYS CORPORATION 
  

 

 TABLE OF CONTENTS 

 

					
	 1A.1
	 	Amendment and Restatement.	  	2
	 1.
	 	Definitions.	  	2
	 2.
	 	Grant of Security Interest.	  	3
	 3.
	 	Representations and Warranties.	  	5
	 4.
	 	Payment of Obligations.	  	5
	 5.
	 	Other Covenants.	  	5
	 6.
	 	Default; Remedies.	  	6
	 7.
	 	Remedies Not Exclusive.	  	6
	 8.
	 	Performance by the Agent of the Borrower’s Obligations.	  	7
	 9.
	 	Duty of the Agent.	  	7
	 10.
	 	Powers Coupled with an Interest.	  	7
	 11.
	 	Financing Statements.	  	7
	 12.
	 	Security Agreement Under Uniform Commercial Code.	  	8
	 13.
	 	Authority of the Agent.	  	9
	 14.
	 	Notices.	  	9
	 15.
	 	Severability.	  	9
	 16.
	 	Amendment in Writing; No Waivers; Cumulative Remedies.	  	9
	 17.
	 	Section Headings.	  	10
	 18.
	 	Successors and Assigns.	  	10
	 19.
	 	The Borrower’s Waiver of Rights.	  	10
	 20.
	 	GOVERNING LAW.	  	10
	 21.
	 	Obligations Are Without Recourse.	  	11
	 22.
	 	Partial Release; Full Release.	  	11
	 23.
	 	Miscellaneous.	  	11
	 24.
	 	Conflicts with Participation Agreement.	  	11
	 25.
	 	LESSEE AS A PARTY.	  	12
	 26.
	 	Counterparts.	  	13

  

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 AMENDED AND RESTATED SECURITY AGREEMENT 

This AMENDED AND RESTATED SECURITY AGREEMENT, dated as of June 30, 2010 (as amended, modified, extended, supplemented, restated
and/or replaced from time to time, this “Security Agreement”), is made between WACHOVIA DEVELOPMENT CORPORATION, a North Carolina corporation, as the borrower (the “Borrower”), and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association (“Bank”), as agent for (a) the Credit Lenders (hereinafter defined) under the Amended and Restated Credit Note Loan Agreement dated as of June 30, 2010 (as amended, modified,
extended, supplemented and/or restated from time to time, the “Credit Note Loan Agreement”) by and among the Borrower, the several banks and other financial institutions from time to time parties thereto (the foregoing banks and
financial institutions are collectively referenced as the “Credit Lenders”) and Bank, as the agent for the Credit Lenders, (b) the Mortgage Lenders (hereinafter defined) under the Amended and Restated Mortgage Note Loan
Agreement dated as of June 30, 2010 (as amended, modified, extended, supplemented and/or restated from time to time, the “Mortgage Note Loan Agreement”) by and among the Borrower, the several banks and other financial
institutions from time to time parties thereto (the foregoing banks and financial institutions are collectively referenced as the “Mortgage Lenders”) and Bank, as the agent for the Mortgage Lenders, (c) the Lessor, and
(d) itself. The Agent, the Lessor, the Credit Lenders, and the Mortgage Lenders, together with their successors and permitted assigns, are collectively referred to hereinafter as the “Secured Parties.” The Bank, in its capacity as
agent for the Secured Parties is referred to hereinafter as the “Agent,” and this Security Agreement is accepted and agreed to by Convergys Corporation, an Ohio corporation. 

PRELIMINARY STATEMENT 

The parties to that certain Existing Security Agreement entered into the Existing Security Agreement to provide a Lien granted in favor
of the Agent to secure the financing provided by the Financing Parties with regard to the Property. 
 The parties to this
Security Agreement have entered into this Security Agreement to amend and restate the Existing Security Agreement. 
 Various of
the parties to the Participation Agreement (hereinafter defined) are parties to the Existing Participation Agreement, certain other Existing Operative Agreements or certain other Operative Agreements. 

The Existing Debt Providers have funded the Existing Loans and the Existing Lessor has funded the Existing Lessor Advance, each in
accordance with the Existing Operative Agreements. 
 Subject to the terms of the Assignment and Recharacterization Agreement,
the Existing Debt Providers have been requested to assign their entire right, title and interest in the Existing Loans and the Existing Operative Agreements to the Lenders, and the Lenders desire to accept such assignments. 

 Subject to the terms of the Assignment and Recharacterization Agreement, the Existing Lessor
has been requested to assign its entire right, title and interest in the Existing Operative Agreements to the Lessor, and the Lessor desires to accept such assignment. 

It is a condition, among others, to the obligation of the Lenders and the Lessor to purchase their respective assignment interests
pursuant to the Assignment and Recharacterization Agreement that the Borrower shall have executed and delivered this Security Agreement to the Agent, for the benefit of the Secured Parties. 

The Borrower is the legal and beneficial owner of the Property (except the Borrower may have a ground leasehold interest in certain
Property pursuant to one (1) or more Ground Leases). 
 Pursuant to the various Operative Agreements, the Bank has agreed
to act in the capacity as Agent. 
 NOW, THEREFORE, in consideration of the premises and to induce the Credit Lenders to make
Credit Loans under the Credit Note Loan Agreement, the Mortgage Lenders to make Mortgage Loans under the Mortgage Note Loan Agreement and the Lessor to make its Lessor Advance under the Participation Agreement, the Borrower hereby agrees with the
Agent, for the benefit of the Secured Parties, as follows: 
  

	 	1A.1	Amendment and Restatement. 

This Security Agreement amends and restates in its entirety the Existing Security Agreement. This Security Agreement is not intended to
constitute a novation of the Existing Security Agreement. 
  

	 	1.	Definitions. 

(a) The following terms are used herein as defined in the Uniform Commercial Code as in effect from time to time in the
State of New York (the “UCC”): Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Equipment, Fixtures, General Intangibles, Instruments, Investment Property, Letter-of-Credit Rights and Proceeds. Each such
term as used in relationship with the Borrower and/or the Lessee shall mean each such collateral category only to the extent arising from or relating to the transactions contemplated by the Operative Agreements or arising directly or indirectly from
or otherwise relating to (i) the ownership by the Borrower and/or the Lessee of, (ii) the right, title or interest of the Borrower and/or the Lessee in, (iii) the planning, design, engineering, construction, development, completion,
insuring, operation, maintenance, modification, alteration, lease, sublease or use of, or (iv) the sale, casualty, condemnation, assignment, transfer, pledge, encumbrance or other disposition of, the Property or any part thereof. For the
avoidance of doubt, (i) the term “Accounts” as used herein shall exclude all accounts receivable of the business and operations of the Borrower and/or the Lessee and (ii) the term “General Intangibles” as used herein
shall exclude all trademarks, trade names and symbols of the Borrower and/or the Lessee. 
  

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 (b) As used herein, the following terms shall have the following respective
meanings: 
 “Lessee” shall mean Convergys Corporation, an Ohio corporation, its successors,
permitted assigns and permitted transferees. 
 (c) Capitalized terms used but not otherwise defined in this
Security Agreement shall have the respective meanings specified in Appendix A to the Amended and Restated Participation Agreement dated as of June 30, 2010 (as amended, modified, extended, supplemented, restated and/or replaced from
time to time in accordance with the applicable provisions thereof, the “Participation Agreement”) among the Lessee, the various entities which are parties thereto from time to time as guarantors thereunder, the Borrower, the Credit
Lenders, the Mortgage Lenders and the Bank, as the agent for the Primary Financing Parties and respecting the Security Documents, as the agent for the Secured Parties. 

(d) The rules of usage set forth in Appendix A to the Participation Agreement shall apply to this Agreement.

  

	 	2.	Grant of Security Interest. 

To secure the payment and performance of all the Obligations and any other amounts advanced under the Credit Note Loan Agreement in
connection with the Credit Notes, under the Mortgage Note Loan Agreement in connection with the Mortgage Notes or under the Participation Agreement as a Lessor Advance, all the amounts now or hereafter owing to the Credit Lenders, the Mortgage
Lenders, the Lessor or the Agent thereunder or under any other Operative Agreement, THE BORROWER HEREBY CONVEYS, GRANTS, ASSIGNS, TRANSFERS, HYPOTHECATES, MORTGAGES AND SETS OVER TO THE AGENT, FOR THE BENEFIT OF THE SECURED PARTIES, A FIRST PRIORITY
SECURITY INTEREST IN AND LIEN ON ALL OF ITS RIGHT, TITLE AND INTEREST IN AND TO THE BORROWER’S INTEREST (AS THE TERM “BORROWER’S INTEREST” IS DEFINED IN APPENDIX A TO THE PARTICIPATION AGREEMENT), whether now existing
or hereafter acquired, IN EACH OF THE FOLLOWING, BUT SOLELY TO THE EXTENT SUCH RIGHT, TITLE OR INTEREST IS ACQUIRED by the borrower WITH RESPECT TO or in connection with THE PROPERTY, ANY OPERATIVE AGREEMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY:

 (a) all Accounts; 

(b) all Chattel Paper (including without limitation all rights under the Lease and each Lease Supplement); 

(c) all Commercial Tort Claims; 

(d) all Documents; 
  

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 (e) all Equipment; 

(f) all Fixtures (including without limitation any Fixtures constituting the Property, as defined in
Appendix A to the Participation Agreement); 
 (g) all General Intangibles, including without
limitation (i) all rights to payment and all indemnity rights under the Operative Agreements, (ii) all computer software, books and records relating to or used in connection with the operation of the Property or any part thereof,
(iii) all unearned premiums under insurance policies now held or subsequently obtained by the Lessee relating to the Property or any part thereof, (iv) all consents, licenses, certificates and other governmental approvals relating to use
or operation of the Property or any part thereof, and (v) all plans and specifications relating to the Property or any part thereof; specifically excluding however, trademarks, trade names and symbols; 

(h) all Instruments; 

(i) all Investment Property; 

(j) all Letter-of-Credit Rights; 

(k) all Property or any part thereof; 

(l) all money, cash or cash equivalent and Deposit Accounts; 

(m) all Proceeds, including without limitation (i) all Rent and all other rents, payments, purchase prices, receipts,
revenues, issues and profits payable under the Lease or pursuant to any other lease with respect to the Property, (ii) subject to application thereof in accordance with the terms of the Lease, all proceeds of any insurance policies maintained
by or for the benefit of the Borrower, including without limitation any right to collect and receive such proceeds and (iii) all awards and other compensation, including without limitation the interest payable thereon and any right to collect
and receive the same, made to the present or any subsequent owner of the Property for the taking by eminent domain, condemnation or otherwise, of all or any part of the Property or any easement or other right therein; and 

(n) all right, title and interest of the Borrower in and to all substitutes, modifications and replacements of, and all
additions, accessions and improvements to, the Fixtures and Equipment, subsequently acquired or leased by the Borrower or constructed, assembled or placed by the Borrower on the Property, immediately upon such acquisition, lease, construction,
assembling or placement, and in each such case, without any further conveyance, assignment or other act by the Borrower. 
  

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 (All of the foregoing property and rights and interests now owned or held or subsequently
acquired by the Borrower and described in the foregoing clauses (a) through (n) are collectively referred to as the “Security Assets”). 

TO HAVE AND TO HOLD the Security Assets and the rights and privileges hereby granted unto the Agent (for the benefit of the Secured
Parties) its successors and assigns for the uses and purposes set forth, until all of the Obligations owing to the Credit Lenders, the Mortgage Lenders, the Lessor and the Agent under the Operative Agreements are paid in full; provided, that
EXCLUDED from the Security Assets at all times and in all respects shall be all Excepted Payments. 
  

	 	3.	Representations and Warranties. 

(a) [Reserved]. 

(b) The Borrower is the legal owner of the Security Assets and has the right to pledge, sell, assign and transfer the
Security Assets. 
  

	 	4.	Payment of Obligations. 

The Borrower shall pay all Obligations in accordance with the terms of the Credit Note Loan Agreement, the Credit Notes, the Mortgage Note
Loan Agreement, the Mortgage Notes, the Participation Agreement and the other Operative Agreements and perform each term to be performed by it under the Credit Note Loan Agreement, the Credit Notes, the Mortgage Note Loan Agreement, the Mortgage
Notes, the Participation Agreement and the other Operative Agreements. 
  

	 	5.	Other Covenants. 

(a) At any time and from time to time, upon the written request of the Agent, and at the expense of the Borrower (with
funds provided by the Lessee for such purpose in accordance with the terms of the Operative Agreements), the Borrower will promptly and duly execute and deliver such further instruments and documents and take such further actions as the Agent
reasonably may request for the purposes of obtaining or preserving the full benefits of this Security Agreement and of the rights and powers granted by this Security Agreement. 

(b) The Borrower will not, and none of the Financing Parties authorizes the Borrower to, sell, exchange transfer, assign,
lease or otherwise dispose of the Security Assets or any interest therein except as permitted under the Operative Agreements. 

(c) The Borrower shall execute and deliver all agreements, assignments, instruments or other documents as reasonably
requested by the Agent for the purpose of obtaining and maintaining control within the meaning of the UCC with respect to any Security Assets consisting of Deposit Accounts and Letter-of-Credit Rights. 

 

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 (d) Each of the Borrower and the Lessee will promptly forward to the Agent
written notification of any and all Commercial Tort Claims of which such Person is aware and execute and deliver such statements, documents and notices and do and cause to be done all such things as may be required by the Agent or required by law,
including the UCC, to fully create, perfect and maintain the priority of the Agent’s security interest in any Commercial Tort Claims. 

6. Default; Remedies. 

(a) If an Event of Default has occurred and is continuing: 

(i) subject to such notice as may be required by applicable law, the Agent, in addition to all other remedies available at
law or in equity, shall have the right forthwith to enter upon the Property (or any other place where any component of any Security Assets are located at such time) without charge, and take possession of all or any portion of the Security Assets,
and to sell, re-let or otherwise dispossess itself of the Security Assets and receive the rents, issues and profits thereof, to make repairs and to apply said rentals and profits, after payment of all necessary or proper charges and expenses, on
account of the amounts hereby secured (subject to the Excepted Payments); and 
 (ii) the Agent, shall, as a
matter of right, be entitled to the appointment of a receiver for the Security Assets, and the Borrower hereby consents to such appointment and waives notice of any application therefor. 

(b) If an Event of Default has occurred and is continuing, the Agent may proceed by an action at law, suit in equity or
other appropriate proceeding, to protect and enforce its rights, whether for the foreclosure of the Lien of this Security Agreement, or for the specific performance of any agreement contained herein or for an injunction against the violation of any
of the terms hereof. The proceeds of any sale of any of the Security Assets shall be applied pursuant to Section 8.7 of the Participation Agreement and the Intercreditor Agreement. In addition, the Agent may proceed under
Section 12 hereof. 
 7. Remedies Not Exclusive. 

The Agent shall be entitled to enforce payment of the indebtedness and performance of the Obligations and to exercise all rights and
powers under this Security Agreement or under any of the other Operative Agreements or any laws now or hereafter in force, notwithstanding some or all of the Obligations may now or hereafter be otherwise secured, whether by deed of trust, mortgage,
security agreement, pledge, Lien, assignment or otherwise. Neither the acceptance of this Security Agreement nor its enforcement, shall prejudice or in any manner affect the Agent’s right to realize upon or enforce any other security now or
hereafter held by the Agent as security for the Obligations, it being agreed that the Agent shall be entitled to enforce this Security Agreement and any other security now or hereafter held by the Agent in such order and manner as the Agent may
determine in its absolute discretion. Every power or remedy given by any of 
  

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the Operative Agreements to the Agent or to which it may otherwise be entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by the
Agent. In no event shall the Agent, in the exercise of the remedies provided in this Security Agreement (including without limitation in connection with the assignment of rents to the Agent, or the appointment of a receiver and the entry of such
receiver onto all or any part of the Property), be deemed a “mortgagee in possession” or a “pledgee in possession”, and the Agent shall not in any way be made liable for any act, either of commission or omission, in connection
with the exercise of such remedies. 
 8. Performance by the Agent of the Borrower’s Obligations. 

If the Borrower fails to perform or comply with any of its agreements contained herein the Agent, at its option, but without any
obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. The reasonable expenses of the Agent incurred in connection with actions undertaken as provided in this Section 8, together
with interest thereon at a rate per annum equal to the Overdue Rate from the date of payment by the Agent to the date reimbursed by the Borrower, shall be payable by the Borrower (with funds provided by the Lessee for such purpose in accordance with
the terms of the Operative Agreements) to the Agent on demand and constitutes part of the Obligations secured hereby. 
 9.
Duty of the Agent. 
 The Agent’s sole duty with respect to the custody, safekeeping and physical preservation of
any Security Assets in its possession, if any, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent nor the Lessor nor any Credit Lender nor any Mortgage Lender nor any of their
respective directors, officers, employees, shareholders, partners or agents shall be liable for failure to demand, collect or realize upon any of the Security Assets or for any delay in doing so or shall be under any obligation to sell or otherwise
dispose of any Security Assets upon the request of the Borrower or any other Person or to take any other action whatsoever with regard to the Security Assets or any part thereof. 

10. Powers Coupled with an Interest. 

All powers, authorizations and agencies contained in this Security Agreement are coupled with an interest and are irrevocable until this
Security Agreement is terminated and the Liens created hereby are released. 
 11. Financing Statements.

 Each of the Borrower and the Lessee authorizes the Agent at the expense of the Borrower or the Lessee, as applicable (such
amounts to be paid with funds provided by the Lessee for such purpose), to file financing statements with respect to the Security Assets under this Security Agreement in such form and in such filing offices as the Agent reasonably determines
appropriate to perfect the security interests of the Agent under this Security Agreement. A carbon, photographic or other reproduction of this Security Agreement shall be sufficient as a 

 

 7 

 
financing statement for filing in any jurisdiction. For purposes of such financing statement, the Borrower or the Lessee, as applicable, shall be deemed to be the debtor, and the Agent shall be
deemed to be the secured party. The address of the Borrower is Wachovia Development Corporation, c/o Wells Fargo Securities, LLC, MAC D1053-082, 301 South College Street, Charlotte, North Carolina 28288, Attention: Jack Altmeyer, with a copy to
Wells Fargo Bank, National Association, 230 West Monroe Street, Suite 2900, Chicago, Illinois 60606, Attention: Steven Buehler. The address of the Lessee is 201 East Fourth Street, Cincinnati, Hamilton County, Ohio, 45202, Attention: David R.
Wiedwald, Treasurer. The address of the Agent is Wells Fargo Bank, National Association, c/o Wells Fargo Securities, LLC, MAC D1053-082, 301 South College Street, Charlotte, North Carolina 28288, Attention: Jack Altmeyer, with a copy to Wells Fargo
Bank, National Association, 230 West Monroe Street, Suite 2900, Chicago, Illinois 60606, Attention: Steven Buehler. 

12. Security Agreement Under Uniform Commercial Code. 

(a) It is the intention of the parties hereto that this Security Agreement as it relates to matters of the grant,
perfection and priority of security interests the subject hereof, shall constitute a security agreement within the meaning of the Uniform Commercial Code of the states in which the Security Assets are located. If an Event of Default shall occur and
be continuing, then in addition to having any other right or remedy available at law or in equity, the Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such
Uniform Commercial Code with respect to all or any portion of the Security Assets which is personal property (including without limitation taking possession of and selling the Property). If the Agent shall elect to proceed under the Uniform
Commercial Code, then ten (10) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Agent shall include,
but not be limited to, reasonable attorneys’ fees and legal expenses. At the Agent’s request, the Borrower shall assemble such personal property and make it available to the Agent at a place designated by the Agent which is reasonably
convenient to both parties. 
 (b) The Borrower, upon reasonable request by the Agent from time to time as may be
necessary to protect Agent’s interest in the Security Assets, shall execute, acknowledge and deliver to the Agent one (1) or more separate security agreements, in form satisfactory to the Agent, covering all or any part of the Security
Assets and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Agent may request in order to perfect,
preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Agent (with funds provided by the Lessee
for such purpose in accordance with the terms of the Operative Agreements) on demand all costs and expenses incurred by the Agent in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable
costs and expenses of any record searches for financing statements the Agent shall reasonably require. The filing of any financing or 

 

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continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of the Agent to proceed against the Property encumbered
by this Security Agreement. 
 13. Authority of the Agent. 

The Borrower acknowledges that the rights and responsibilities of the Agent under this Security Agreement with respect to any action taken
by the Agent or the exercise or non-exercise by the Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Security Agreement shall be governed by Section 8.6
of the Participation Agreement, the Intercreditor Agreement and by such other agreements with respect thereto as may exist from time to time (until such time as all amounts due and owing to the Secured Parties and the Agent under the Operative
Agreements have been paid in full), but the Agent shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and the Borrower shall be under no obligation, or
entitlement, to make any inquiry respecting such authority. 
 14. Notices. 

All notices required or permitted to be given under this Security Agreement shall be in writing and delivered as provided in
Section 12.2 of the Participation Agreement. 
 15. Severability. 

Any provision of this Security Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. 
 16. Amendment in Writing; No Waivers; Cumulative
Remedies. 
 Subject to the terms of the Intercreditor Agreement: 

(a) None of the terms or provisions of this Security Agreement may be waived, amended, supplemented or otherwise modified
except in accordance with the terms of Section 12.4 of the Participation Agreement. 
 (b) No failure
to exercise, nor any delay in exercising, on the part of the Agent, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or
further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Agent of any right or remedy hereunder on any one (1) occasion shall not be construed as a bar to any right or remedy which the Agent would
otherwise have on any future occasion. 
  

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 (c) The rights and remedies herein provided are cumulative, may be exercised
singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 17. Section Headings.

 The section headings used in this Security Agreement are for convenience of reference only and are not to affect the
construction hereof or be taken into consideration in the interpretation hereof. 
 18. Successors and Assigns. 

 This Security Agreement shall be binding upon the successors of the Borrower, and the Borrower shall not assign any of its
rights or obligations hereunder or with respect to any of the Security Assets without the prior written consent of the Agent (at the direction of the Majority Secured Parties). This Security Agreement shall inure to the benefit of the Agent, the
Lessor, the Credit Lenders and the Mortgage Lenders and their respective successors and assigns, in accordance with their respective interests herein. 

19. The Borrower’s Waiver of Rights. 

Except as otherwise set forth herein, to the fullest extent permitted by law, the Borrower waives the benefit of all laws now existing or
that may subsequently be enacted providing for (a) any appraisement or valuation before sale of any portion of the Security Assets or interest therein, (b) any stay or extension of the time for the enforcement of the collection of the
indebtedness or the creation or extension of a period of redemption from any sale made in collecting such debt, (c) exemption of any portion of the Security Assets from attachment, levy or sale under execution or exemption from civil process
and (d) marshalling of any portion of the Security Assets or interest therein. Except as otherwise set forth herein, to the fullest extent the Borrower may do so, the Borrower agrees that the Borrower will not at any time insist upon, plead,
claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, exemption, extension or redemption, or requiring foreclosure of this Security Agreement before exercising any other remedy
granted hereunder and the Borrower, for the Borrower and its successors and assigns, and for any and all Persons ever claiming any interest in the Security Assets, to the extent permitted by law, hereby waives and releases all rights of redemption,
valuation, appraisement, stay of execution, notice of election to mature or declare due the whole of the Obligations and marshalling in the event of foreclosure of the Liens hereby created. 

20. GOVERNING LAW. 

EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN SECTION 12(a) HEREOF, THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED,
INTERPRETED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW), EXCEPT TO THE EXTENT THE LAWS OF THE STATE WHERE A PARTICULAR PROPERTY IS LOCATED
ARE REQUIRED TO APPLY. 
  

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 21. Obligations Are Without Recourse. 

The provisions of the Participation Agreement relating to limitations on liability of the Borrower are hereby incorporated by reference
herein, Mutatis Mutandis. 
 22. Partial Release; Full Release. 

The Agent may release for such consideration as it may require any portion of the Security Assets without (as to the remainder of the
Security Assets) in any way impairing or affecting the Lien, security interest and priority herein provided for the Agent compared to any other Lien holder or secured party. Further, the Agent shall execute and deliver to the Borrower such documents
and instruments as may be required to release the Lien and security interest created by this Security Agreement with respect to the Property as provided in Section 8.8 of the Participation Agreement or to grant the easements and permit
the other matters provided for in Section 8.5 of the Participation Agreement. 
 23. Miscellaneous. 

 (a) This Security Agreement is one (1) of the documents which create Liens and security interests that
secure payment and performance of the Obligations. The Agent, at its election, may commence or consolidate in a single action all proceedings to realize upon all such Liens and security interests. The Borrower hereby waives (i) any objections
to the commencement or continuation of an action to foreclose the Lien of this Security Agreement or exercise of any other remedies hereunder based on any action being prosecuted or any judgment entered with respect to the Obligations or any Liens
or security interests that secure payment and performance of the Obligations and (ii) any objections to the commencement of, continuation of, or entry of a judgment in any such other action based on any action or judgment connected to this
Security Agreement. In case of a foreclosure sale, the Security Assets may be sold, at the Agent’s election, in one (1) parcel or in more than one (1) parcel and the Agent is specifically empowered (without being required to do so,
and in its sole and absolute discretion) to cause successive sales of portions of the Security Assets to be held. 

(b) THE PROVISIONS OF THE PARTICIPATION AGREEMENT RELATING TO SUBMISSION TO JURISDICTION AND VENUE ARE HEREBY INCORPORATED
BY REFERENCE HEREIN, MUTATIS MUTANDIS. 
 24. Conflicts with Participation Agreement. 

Notwithstanding any other provision hereof, in the event of any conflict between the terms of this Security Agreement and the
Participation Agreement, the terms of the Participation Agreement shall govern. 
  

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	 	25.	LESSEE AS A PARTY. 

(a) LESSEE has executed this Security Agreement TO EVIDENCE THE AGREEMENT OF THE LESSEE TO THE TERMS OF THE SECURITY
AGREEMENT (INCLUDING SECTIONS 5(d) AND 11) AND FOR THE purpose of subjecting to the security interest AND lIEN granted hereunder all of its right, title and interest, if any, in and to the SECURITY ASSETS TO SECURE THE PROMPT
PAYMENT IN FULL OF ALL AMOUNTS OWING BY THE LESSEE FROM TIME TO TIME AND THE PERFORMANCE OF all OBLIGATIONS of THE LESSEE TO THE SECURED PARTIES UNDER THE OPERATIVE AGREEMENTS IN THE EVENT THAT A COURT, WHEN ENFORCING THIS SECURITY AGREEMENT
FOLLOWING THE OCCURRENCE AND CONTINUANCE OF A LEASE EVENT OF DEFAULT, DETERMINES THAT THE LESSEE’S INTEREST IN THE PROPERTY IS NOT A LEASEHOLD INTEREST, BUT THAT THE TRANSACTIONS CONTEMPLATED BY THE LEASE SHALL BE TREATED AS A SECURED
BORROWING. TO EFFECT THE FOREGOING, LESSEE hereby grants to the Agent (for the benefit of the SECURED PARTIES) a security interest in and to all of its right, title and interest, if any, in and to the security assets (TO THE EXTENT LESSEE, RATHER
THAN THE BORROWER, IS DETERMINED TO HAVE ANY RIGHT, TITLE OR INTEREST THEREIN AND WITHOUT REGARD TO ANY LANGUAGE IN SECTION 2 OR THE DEFINITION OF “SECURITY ASSETS” OR ANY DEFINITION OF ANY ITEM CONSTITUTING THE SECURITY ASSETS
WHICH OTHERWISE WOULD LIMIT THE SECURITY ASSETS TO THE RIGHT, TITLE AND INTEREST OF THE BORROWER THEREIN), TO SECURE THE PROMPT PAYMENT IN FULL OF ALL AMOUNTS OWING BY THE LESSEE FROM TIME TO TIME AND THE PERFORMANCE OF all OBLIGATIONS of THE LESSEE
TO THE SECURED PARTIES UNDER THE OPERATIVE AGREEMENTS. LESSEE acknowledges and agrees that, upon the occurrence AND CONTINUANCE of a LEASE Event of Default, the Agent shall have the right to exercise any or all of its remedies hereunder as against
any such right, title or interest of LESSEE in or to the SECURITY ASSETS. THE SECURITY ASSETS SHALL NOT INCLUDE EQUIPMENT ACQUIRED OR FINANCED WITH FUNDS (I) OTHER THAN THE cREDIT PROCEEDS, THE MORTGAGE LOANS AND THE LESSOR ADVANCE AND ALL
PROCEEDS THEREOF AND (II) OTHER THAN PROCEEDS PROVIDED DIRECTLY OR INDIRECTLY BY THE LESSEE OR ONE OF ITS AFFILIATES WHERE THE LESSEE IS EXPRESSLY REQUIRED BY ANY OPERATIVE AGREEMENT TO ACQUIRE ANY ASSET BY OR ON BEHALF OF THE LESSOR, IN EACH CASE
INCLUDING ANY REPLACEMENT OF SUCH ASSETS WHETHER SUCH REPLACEMENT IS MADE WITH THE PROCEEDS OF INSURANCE OR OTHERWISE. 

(b) In furtherance of Section 5.1 of the Lease, the Agent hereby acknowledges and agrees that so long as no
Lease Event of Default shall exist and be continuing, the Agent will not disturb the possession of Lessee, will not terminate the Lease or join Lessee in summary ejectment or foreclosure proceedings (unless such joinder is required to effect such
ejectment or foreclosure proceedings against the Borrower, but subject to 
  

 12 

 
the non-disturbance rights of Lessee hereunder), and shall recognize the leasehold estate and contractual rights of the Lessee under the Lease, including without limitation the Purchase Option
granted thereunder to the Lessee, it being understood that such leasehold estate and rights of the Lessee shall be unaffected by any foreclosure action or enforcement of remedies by the Agent hereunder so long as no Lease Event of Default shall
exist and be continuing. 
  

	 	26.	Counterparts. 

This Security Agreement may be executed in counterparts, each of which shall constitute an original but all of which, when taken together,
shall constitute one instrument. 
 [signature page follows] 

 

 13 

 IN WITNESS WHEREOF, each of the undersigned has caused the Security Agreement to be duly
executed and delivered as of the date first above written. 
  

	
	 WACHOVIA DEVELOPMENT CORPORATION,

as the Borrower

	
	 By:____________________________________

	 Name:__________________________________

	 Title:___________________________________

 

 (signature pages continue) 

Amended and Restated Security Agreement 

Convergys Corporation 

			
	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as the Agent

	
	By: ______________________________
	Name: ____________________________
	Title:_____________________________

  

 (signature pages continue) 

Amended and Restated Security Agreement 

Convergys Corporation 

 Accepted and Agreed to: 

 

	
	CONVERGYS CORPORATION
	
	By:______________________________
	Name:____________________________
	Title:_____________________________

  

 (signature pages end) 

Amended and Restated Security Agreement 

Convergys CorporationAssignment and Recharacterization Agreement, dated as of June 30, 2010

 Exhibit 10.5 to 2010 10-Q 

ASSIGNMENT AND RECHARACTERIZATION AGREEMENT 

THIS ASSIGNMENT AND RECHARACTERIZATION AGREEMENT dated as of June 30, 2010 (as amended, modified, extended, supplemented, restated
and/or replaced from time to time, this “Agreement”) is by and among CONVERGYS CORPORATION, an Ohio corporation (regarding the transactions evidenced by the Existing Operative Agreements, the “Existing Lessee”); the
various parties listed on the signature pages hereto as existing guarantors (regarding the transactions evidenced by the Existing Operative Agreements, individually, an “Existing Guarantor” and collectively, the “Existing
Guarantors”); WACHOVIA DEVELOPMENT CORPORATION, a North Carolina corporation (regarding the transactions evidenced by the Existing Operative Agreements, the “Existing Lessor”); the various financial institutions and other
institutional investors listed on the signature pages hereto as existing credit note purchasers (regarding the transactions evidenced by the Existing Operative Agreements, individually, an “Existing Credit Note Purchaser” and
collectively, the “Existing Credit Note Purchasers”); the various banks and other lending institutions listed on the signature pages hereto as existing mortgage lenders (regarding the transactions evidenced by the Existing Operative
Agreements, individually, an “Existing Mortgage Lender” and collectively, the “Existing Mortgage Lenders” and together with the Existing Credit Note Purchasers, individually, an “Existing Debt
Provider” and collectively, the “Existing Debt Providers”); WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as successor-by-merger to Wachovia Bank, National Association, as the existing agent for
the Existing Primary Financing Parties and respecting the Existing Security Documents, as the existing agent for the Existing Secured Parties (regarding the transactions evidenced by the Existing Operative Agreements, the “Existing
Agent”); CONVERGYS CORPORATION, an Ohio corporation (together with its successors and permitted assigns, the “Lessee”); the various entities listed on the signature pages hereto as guarantors (together with their respective
successors and permitted assigns, individually, a “Guarantor” and collectively, the “Guarantors”); WACHOVIA DEVELOPMENT CORPORATION, a North Carolina corporation (together with its successors and permitted assigns,
the “Lessor”); the various banks and other lending institutions listed on the signature pages hereto as credit lenders (together with their respective successors and permitted assigns, individually, a “Credit
Lender” and collectively, the “Credit Lenders”); the various banks and other lending institutions listed on the signature pages hereto as mortgage lenders (together with their respective successors and permitted assigns,
individually, a “Mortgage Lender” and collectively, the “Mortgage Lenders” and together with the Credit Lenders, individually, a “Lender” and collectively, the “Lenders”); WELLS
FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as the agent for the Primary Financing Parties and respecting the Security Documents, as the agent for the Secured Parties (in such capacity, together with its successors and
permitted assigns, the “Agent”). 
 WITNESSETH: 

WHEREAS, various of the parties to this Agreement are parties to the Existing Participation Agreement, certain other Existing Operative
Agreements, the Participation Agreement or certain other Operative Agreements; 
 WHEREAS, the Existing Debt Providers have
funded the Existing Loans and the Existing Lessor has funded the Existing Lessor Advance, each in accordance with the Existing Operative Agreements; 

WHEREAS, subject to the terms of this Agreement, the Existing Debt Providers have been requested to assign their entire right, title and
interest in the Existing Loans and the Existing Operative Agreements to the Lenders, and the Lenders desire to accept such assignments; 

 WHEREAS, subject to the terms of this Agreement, the Existing Lessor has been requested to
assign its entire right, title and interest in the Existing Operative Agreements to the Lessor, and the Lessor desires to accept such assignment; 

WHEREAS, certain parties to this Agreement desire to amend and restate certain of the Existing Operative Agreements pursuant to the
Operative Agreements in order to, among other things, reallocate the outstanding amounts among Credit Loans, Mortgage Loans and the Lessor Advance; and 

WHEREAS, the relevant parties to this Agreement have agreed to modifications to the Existing Operative Agreements and such other changes
that are necessary to accomplish the transaction as contemplated herein on the terms and conditions set forth herein and in the other Operative Agreements. 

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which is
acknowledged, the parties hereto agree as follows: 
 AGREEMENT: 

1. Definitions. Capitalized terms used herein and not otherwise defined herein shall have the meaning given to such terms in
Appendix A to the Participation Agreement and the rules of usage set forth therein shall apply herein. The following terms shall have the meanings as described below: 

“Agent” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Assigned Lessor Facility” shall have the meaning provided therefor in Section 3(b) of this
Agreement. 
 “Assigned Loan Facility” shall have the meaning provided therefor in
Section 3(a) of this Agreement. 
 “Assigning Parties” shall mean the Existing Debt
Providers and the Existing Lessor. 
 “Code” shall mean the Internal Revenue Code of 1986 together with
rules and regulations promulgated thereunder, as amended from time to time, or any successor statute thereto. 

“Closing Date” shall mean June 30, 2010; provided, the conditions precedent for closing pursuant to
the Operative Agreements shall have been satisfied or waived. 
 “Continuing Obligations” shall have
the meaning provided for such term in Section 6. 
 “Credit Lender” shall have the meaning
provided for such term in the first paragraph of this Agreement. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended from time to time. 
 “Existing Agent” shall have
the meaning provided for such term in the first paragraph of this Agreement. 
  

 2 

 “Existing Credit Loans” shall mean the loans provided by the
Existing Credit Note Purchasers as evidenced by the Existing Credit Notes. 
 “Existing Credit Note
Purchaser” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Existing Credit Note” shall have the meaning provided for the term “Credit Note” in
Appendix A to the Existing Participation Agreement. 
 “Existing Debt Provider” shall have
the meaning provided for such term in the first paragraph of this Agreement. 
 “Existing Financing
Parties” shall have the meaning provided for the term “Financing Parties” in Appendix A to the Existing Participation Agreement. 

“Existing Guarantor” shall have the meaning provided for such term in the first paragraph of this Agreement.

 “Existing Lessee” shall have the meaning provided for such term in the first paragraph of this
Agreement. 
 “Existing Lessor” shall have the meaning provided for such term in the first paragraph of
this Agreement. 
 “Existing Lessor Advance” shall have the meaning provided for the term “Lessor
Advance” in Appendix A to the Existing Participation Agreement. 
 “Existing Lessor
Lien” shall have the meaning provided for the term “Lessor Lien” in Appendix A to the Existing Participation Agreement. 

“Existing Loans” shall mean the Existing Credit Loans and the Existing Mortgage Loans. 

“Existing Mortgage Lender” shall have the meaning provided for such term in the first paragraph of this
Agreement. 
 “Existing Mortgage Loans” shall mean the loans provided by the Existing Mortgage Lenders
as evidenced by the Existing Mortgage Notes. 
 “Existing Mortgage Note” shall have the meaning
provided for the term “Mortgage Note” in Appendix A to the Existing Participation Agreement. 

“Existing Mortgage Note Loan Agreement” shall have the meaning provided for the term “Mortgage Note Loan
Agreement” in Appendix A to the Existing Participation Agreement. 
 “Existing Note Purchase
Agreement” shall have the meaning provided for the term “Note Purchase Agreement” in Appendix A to the Existing Participation Agreement. 

“Existing Notes” shall mean, collectively, the Existing Mortgage Notes and the Existing Credit Notes.

  

 3 

 “Existing Operative Agreements” shall have the meaning provided
for the term “Operative Agreements” in Appendix A to the Existing Participation Agreement. 

“Existing Participation Agreement” shall mean that certain Participation Agreement dated as of June 30,
2003 (as amended, modified, extended, supplemented, restated and/or replaced prior to the date hereof) by and among the Existing Lessee, the Existing Guarantors, the Existing Lessor, the Existing Debt Providers and the Existing Agent. 

“Existing Primary Financing Parties” shall have the meaning provided for the term “Primary Financing
Parties” in Appendix A to the Existing Participation Agreement. 
 “Existing Secured
Parties” shall have the meaning provided for the term “Secured Parties” in Appendix A to the Existing Participation Agreement. 

“Existing Security Documents” shall have the meaning provided for the term “Security Documents” in
Appendix A to the Existing Participation Agreement. 
 “Existing Security Filings” shall
mean, collectively, the documents filed with various governmental filing offices in connection with the Existing Security Documents. 

“Guarantor” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Lender” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Lessee” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Lessor” shall have the meaning provided for such term in the first paragraph of this Agreement. 

“Mortgage Lender” shall have the meaning provided for such term in the first paragraph of this Agreement.

 “Operative Agreements” shall have the meaning provided for the term “Operative Agreements”
in Appendix A to the Participation Agreement. 
 “Participation Agreement” shall mean the
Amended and Restated Participation Agreement dated as of June 30, 2010 by and among the Lessee, the Guarantors, the Lessor, the Lenders and the Agent. 

“Post-Assignment Transaction Parties” shall mean the Lessee, the Guarantors, the Lessor, the Credit Lenders, the
Mortgage Lenders and the Agent. 
 “Post-Assignment Financing Parties” shall have the meaning provided
for the term “Financing Parties” in Appendix A to the Participation Agreement. 

“Retention of Interest” shall have the meaning provided in Section 4 of this Agreement. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

 

 4 

 2. Payment by the Lenders, the Lessor and the Existing Lessee; Delivery of Existing
Notes. The parties to this Agreement hereby agree as follows: 
 (a) Payment by the Lenders, the Lessor
and the Existing Lessee. On the Closing Date (subject to the satisfaction or waiver of the conditions precedent pursuant to the Participation Agreement), the Lenders and the Lessor shall pay by wire transfer (no later than 12:00 noon
(Charlotte, NC time)) to the Agent (and the Agent shall be deemed to hold such amounts as the Existing Agent) the amounts for payment by such parties in Schedule 1 Part A and the Existing Lessee shall pay to the Existing Agent
the amounts for payment in Schedule 1 Part B, and all such amounts shall be used to pay the entire amount owing to (i) the Existing Debt Providers regarding their respective rights and obligations in the Existing Notes,
with the full amount for payment being described in Schedule 1 Part C and (ii) the Existing Lessor regarding its rights and obligations in the Existing Lessor Advances, with the full amount for payment being described in
Schedule 1 Part C. On the Closing Date, and subject to the receipt by the Existing Agent of the amounts referenced in the prior sentence from the Lenders, the Lessee and the Existing Lessee, the Existing Agent (no later than
2:00 p.m. (Charlotte, NC time)) shall pay by wire transfer the amounts set forth in Schedule 1 Part C to the Existing Debt Providers and the Existing Lessor. 

(b) Assignment of Existing Notes. Prior to the Closing Date, each applicable Existing Credit Note Purchaser shall
deliver to Chapman and Cutler LLP (“Chapman”) the original of its respective Existing Credit Note (or if lost, a lost note affidavit in form and substance reasonably satisfactory to the Agent). Such delivery is hereby agreed to be
subject to an irrevocable escrow instruction (notwithstanding any subsequent instruction to the contrary, unless agreed to in writing by the Agent, Chapman and each applicable Existing Credit Note Purchaser) providing that (x) each such
Existing Credit Note or affidavit, as applicable, shall be delivered by Chapman to the Agent promptly after the Closing Date on the sole condition that the applicable Existing Credit Note Purchaser has received payment of the amounts set forth in
Schedule 1 Part C and (y) Chapman shall provide to the Agent or its counsel when so requested prior to the Closing Date a copy of each such Existing Credit Note or affidavit, as applicable. Each such Existing Credit Note
or affidavit, as applicable, may be marked as assigned pursuant to this Agreement but shall not be marked as paid, terminated, cancelled or with any other similar marking. The Existing Credit Note Purchasers hereby agree to promptly notify Chapman
and the Agent upon receipt of the applicable amounts set forth in Schedule 1 Part C. 

Prior to the Closing Date, each applicable Existing Mortgage Lender shall deliver to the Agent the original of its
respective Existing Mortgage Note (or if lost, a lost note affidavit in form and substance reasonably satisfactory to the Agent). Such delivery is hereby agreed to be subject to an irrevocable escrow instruction (notwithstanding any subsequent
instruction to the contrary, unless agreed to in writing by the Agent and the Existing Mortgage Lender) providing that (x) each such Existing Mortgage Note or affidavit, as applicable, shall be retained by the Agent promptly after the Closing
Date on the sole condition that the applicable Existing Mortgage Lender has received payment of the amounts set forth in Schedule 1 Part C and (y) the Agent may provide to its counsel prior to the Closing Date a copy of
each such Existing Mortgage Note or affidavit, as applicable. Each such Existing Mortgage Note or affidavit, as applicable, may be marked as assigned pursuant to this Agreement but shall not be marked as paid, terminated, cancelled or with any other
similar marking. The Existing Mortgage Lenders hereby agree to promptly notify the Agent upon receipt of the applicable amounts set forth in Schedule 1 Part C. 

 

 5 

 3. Terms of Assignment of Existing Notes and Existing Lessor Advances; Wire Transfers;
Transfer and Assignment Complies with the Operative Agreements. The parties to this Agreement hereby agree as follows: 

(a) Assignment of Existing Notes. Subject to the terms of this Agreement and provided that each Existing Debt
Provider has received its applicable amounts set forth in Schedule 1 Part C (including without limitation the payments of interest, fees, breakage, make-whole amounts and other amounts referenced therein), the Existing Debt
Providers hereby irrevocably sell, assign, transfer and otherwise convey to the Lenders (as a group) without recourse to any of the Existing Debt Providers, and the Lenders (as a group) hereby irrevocably purchase and assume from the Existing Debt
Providers without recourse to any of the Existing Debt Providers, as of the Closing Date, all of the Existing Debt Providers’ rights and obligations under the Existing Operative Agreements (except for the rights of the Existing Debt Providers
regarding the Continuing Obligations due to any of the Existing Debt Providers which shall be retained by each applicable Existing Debt Provider) (the “Assigned Loan Facility”). For clarification, the Assigned Loan Facility shall
include, without limitation, the outstanding principal amount of the Existing Loans; provided, the interest, fees, breakage, make-whole amounts and other amounts payable to the Existing Debt Providers referenced in
Schedule 1 Part C are for the account of each Existing Debt Provider, as applicable, and are not part of the Assigned Loan Facility. 

(b) Assignment of Existing Lessor Advance. Subject to the terms of this Agreement and provided that the Existing
Lessor has received its applicable amounts set forth in Schedule 1 Part C (including without limitation the payments of Lessor Yield, fees, breakage, make-whole amounts and other amounts referenced therein), the Existing Lessor
hereby irrevocably sells, assigns, transfers and otherwise conveys to the Lessor without recourse to the Existing Lessor, and the Lessor hereby irrevocably purchases and assumes from the Existing Lessor without recourse to the Existing Lessor, as of
the Closing Date, all of the Existing Lessor’s rights and obligations under the Existing Operative Agreements (except for the rights of the Existing Lessor regarding the Continuing Obligations due to the Existing Lessor which shall be retained
by the Existing Lessor) (the “Assigned Lessor Facility”). For clarification, the Assigned Lessor Facility shall include, without limitation, the outstanding principal amount of the Existing Lessor Advance; provided, the
Lessor Yield, fees, breakage, make-whole amounts and other amounts payable to the Existing Lessor referenced in Schedule 1 Part C are for the account of the Existing Lessor and are not part of the Assigned Lessor Facility.

 (c) Consolidation, Substitution and Recharacterization. The Lenders, the Lessor, the Agent and the
Lessee hereby agree that the amounts assigned to the Lenders pursuant to the foregoing paragraph are hereby consolidated, substituted and, to the extent necessary, recharacterized from Existing Mortgage Loans to Existing Credit Loans, such that the
assigned indebtedness will result in Credit Notes and Mortgage Notes in the principal amounts set forth in Schedule 2. 

(d) Assigning Party Representations and Warranties. Each Assigning Party (but excluding the Existing Lessor with
respect to subsection (iii) below) represents and warrants that (i) the Assigning Party (A) is legally authorized to enter into this Agreement; (B) is not in current violation of any of its obligations under any of the Existing
Operative Agreements; (C) has no knowledge of any Default or Event of Default (as such terms are defined in Appendix A to the Existing Participation Agreement) which has occurred and is continuing; (D) is the lawful owner of
its right, title and interest assigned pursuant to this Agreement (including but not limited to its Existing Note or Existing Lessor Advance, as applicable) with the full right to transfer the same;

  

 6 

 
and (E) has an outstanding principal amount equal to the amount assigned as referenced on Schedule 1 Part C; (ii) the interest being assigned by the Assigning
Party hereunder is free and clear of any and all claims and encumbrances whatsoever; and (iii) attached hereto as Schedule 3 is a copy of the Existing Note of each Existing Debt Provider, as applicable, the original with to which is
the only note held by or on behalf of such Existing Debt Provider with respect to the indebtedness described in the Existing Note. 

Additionally, each Existing Credit Note Purchaser represents and warrants that neither the applicable Existing Credit Note
Purchaser nor anyone acting on its behalf has (i) offered, transferred, pledged, sold or otherwise disposed of any Existing Credit Note, any interest in any Existing Credit Note or any other similar security to any person in any manner,
(ii) solicited any offer to buy or accepted a transfer, pledge or other disposition of any Existing Credit Note, any interest in any Existing Credit Note or any other similar security from any person in any manner, (iii) otherwise
approached or negotiated with respect to any Existing Credit Note, any interest in any Existing Credit Note or any other similar security with any person in any manner, (iv) made any general solicitation by means of general advertising or in
any other manner, or (v) taken any other action, which (in the case of any of the acts described in clauses (i) through (v) hereof) would constitute a distribution of any Existing Credit Note under the Securities Act, or would render
the disposition of any Existing Credit Note a violation of Section 5 of the Securities Act or any state securities laws, or would require registration or qualification of any Existing Credit Note pursuant to the Securities Act or any state
securities laws. 
 Other than as set forth in the prior paragraph of this Section 3(d), each
Assigning Party (i) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Existing Operative Agreements or the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Existing Operative Agreements or any other instrument or document furnished pursuant thereto; and (ii) makes no representation or warranty and assumes no responsibility with
respect to the financial condition of any obligor or the performance by any obligor of any of their respective obligations under the Existing Operative Agreements or any other instrument or document furnished pursuant hereto or thereto. Following
the execution of this Agreement, a copy of this Agreement will be delivered to the Existing Agent for acceptance by the Existing Agent pursuant to the applicable provisions of the Existing Operative Agreements; such Agreement shall be effective as
of the Closing Date; provided, the Existing Agent has received payment of the amounts described in Schedule 1 Part C. 

(e) Representations and Warranties of the Lenders and the Lessor. Each of the Lenders and the Lessor
(i) represents and warrants that it is legally authorized to enter into this Agreement; (ii) confirms that it has received copies of the Existing Operative Agreements and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Agreement; and (iii) agrees that it will, independently and without reliance upon any of the Assigning Parties or the Existing Agent and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Existing Operative Agreements or any other instrument or document furnished pursuant hereto or thereto. 

Additionally, each Lender represents and warrants that: 

(i) such Lender is a “qualified institutional buyer” as that term is defined in Rule 144A
(“Rule 144A”) under the Securities Act because (A) such Lender owned and/or invested on a discretionary basis $100,000,000 in securities (other than the 

 

 7 

 
excluded securities referred to below) as of the end of such Lender’s most recent fiscal year (such amount being calculated in accordance with Rule 144A) [Such Lender must own and/or
invest on a discretionary basis at least $100,000,000 in securities unless such Lender is a dealer, and, in that case, such Lender must own and/or invest on a discretionary basis at least $10,000,000 in securities.] and (B) such Lender
(1) is a national bank or a banking institution organized under the laws of any State, U.S. territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking
commission or similar official or is a foreign bank or equivalent institution and (2) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements as of a date not more than 16 months preceding the
date of sale and assignment (pursuant to the terms of this Agreement) of the Existing Credit Notes in the case of a U.S. bank, and not more than 18 months preceding such date of sale and assignment (pursuant to the terms of this Agreement) for a
foreign bank or equivalent institution; 
 (ii) Such Lender is aware that the sale and assignment to it (pursuant
to the terms of this Agreement) of its interest in the Existing Credit Notes is being made in reliance on Rule 144A. Such Lender is acquiring its interest in the Existing Credit Notes for its own account and understands that such Existing
Credit Notes may be resold, pledged or transferred only (A) to a person reasonably believed to be a qualified institutional buyer that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given
that the resale, pledge or transfer is being made in reliance on Rule 144A, or (B) pursuant to another exemption from registration under the Securities Act; 

(iii) Such Lender has been furnished with all information regarding the Existing Credit Notes and payments thereon and the
Existing Operative Agreements that it has requested; 
 (iv) Such Lender understands that it may not sell or
otherwise transfer any portion of its interest in the Existing Credit Notes except in compliance with the provisions of the Existing Note Purchase Agreement (including without limitation Sections 2, 6 and 13 thereof), which
provisions it has carefully reviewed, and that the Existing Credit Notes will bear legends substantially in the form of Exhibit 1 to the Existing Note Purchase Agreement; 

(v) Neither such Lender nor anyone acting on its behalf has (A) offered, pledged, sold, disposed of or otherwise
transferred any Existing Credit Note, any interest in any Existing Credit Note or any other similar security to any person in any manner, (B) solicited any offer to buy or accept a pledge, disposition or other transfer of any Existing Credit
Note, any interest in any Existing Credit Note or any other similar security from any person in any manner, (C) otherwise approached or negotiated with respect to any Existing Credit Note, any interest in any Existing Credit Note or any other
similar security with any person in any manner, (D) made any general solicitation by means of general advertising or in any other manner, or (E) taken any other action, that (in the case of any of the acts described in clauses
(A) through (E) above) would constitute a distribution of any Existing Credit Note under the Securities Act, would render the disposition of any Existing Credit Note a violation of Section 5 of the Securities Act or any state
securities law or would require registration or qualification of any Existing Credit Note pursuant thereto. Such Lender will not act, nor has it authorized or will it authorize any person to act, in any manner set forth in the foregoing sentence
with respect to any Existing Credit Note; 
  

 8 

 (vi) The term “securities” as used herein does not include
(A) securities of issuers that are affiliated with such Lender, (B) securities that are part of an unsold allotment to or subscription by such Lender, if such Lender is a dealer, (C) bank deposit notes and certificates of deposit,
(D) loan participations, (E) repurchase agreements, (F) securities owned but subject to a repurchase agreement and (G) currency, interest rate and commodity swaps. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by such Lender, such Lender did not include any of the securities referred to in this paragraph; 

(vii) For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by
such Lender, such Lender used the cost of such securities to such Lender, unless such Lender reports its securities holdings in its financial statements on the basis of their market value, and no current information with respect to the cost of those
securities has been published, in which case the securities were valued at market. Further, in determining such aggregate amount, such Lender may have included securities owned by subsidiaries of such Lender, but only if such subsidiaries are
consolidated with such Lender in its financial statements prepared in accordance with generally accepted accounting principles and if the investments of such subsidiaries are managed under such Lender’s direction. However, such securities were
not included if such Lender is a majority-owned, consolidated subsidiary of another enterprise and such Lender is not itself a reporting company under the Securities Exchange Act of 1934; 

(viii) Such Lender acknowledges that it is familiar with Rule 144A and understands that the Existing Credit Note
Purchasers are relying and will continue to rely on the statements made herein because one or more sales to such Lender may be in reliance on Rule 144A; 

(ix) Such Lender is purchasing its interest in the Existing Credit Notes (pursuant to the terms of this Agreement) only
for such Lender’s own account; 
 (x) Such Lender will notify each of the Existing Credit Note Purchasers of
any changes in the information and conclusions in Sections 3(e)(vi)-(ix) as of the effective date of the assignment of the Existing Credit Notes pursuant to this Agreement. Until such notice is given, such Lender’s purchase of
its interest in the Existing Credit Notes will constitute a reaffirmation of the representations and warranties set forth in Sections 3(e)(vi)-(ix) as of the date of such purchase. In addition, such Lender agrees that it will
furnish to the Existing Credit Note Purchasers any updated annual financial statements that become available on or before the date of such purchase, promptly after they become available; and 

(xi) Either (A) such Lender is not an “employee benefit plan” subject to ERISA or a “plan”
described by Section 4975(e)(1) of the Code, or any entity deemed to hold plan assets of the foregoing by reason of a plan’s investment in such entity (each, a “Plan”) or (B) the statement regarding the source of
funds used in such Lender’s acquisition of its interest in the Existing Credit Notes set forth on the legend to the form of Existing Credit Notes, which is attached as Exhibit 1 to the Note Purchase Agreement, is true and correct
with respect to such Lender. 
  

 9 

 (f) Wire Transfers. Wire transfers of amounts under this Agreement
shall be sent pursuant to the wire transfer instructions set forth in Schedule 4; provided, notwithstanding any references to wire transfers between Wells Fargo Bank, National Association and itself or any of its Affiliates, any
such transfer may be effected pursuant to intra-bank accounting entries or as such entities shall otherwise reasonably determine. 

(g) Transfer and Assignment Complies with the Operative Agreements. The parties to this Agreement
(i) acknowledge and agree that the transfer and assignment of the Existing Notes contemplated hereby comply in all respects with the provisions of the Existing Operative Agreements, including without limitation Section 13 of the
Existing Note Purchase Agreement and the relevant provisions of the Existing Mortgage Note Loan Agreement and (ii) hereby waive the requirement to deliver any certificates, opinions or other documents otherwise required pursuant to any of the
Existing Operative Agreements in connection with the purchase and sale of any interest in any Existing Note, including without limitation the certificates and opinions required in connection with the purchase and sale of any interest in any Existing
Credit Note otherwise required pursuant to Section 13 of the Existing Note Purchase Agreement. 
 4. Retention of
Interest in the Property by the Lessor. From and after the Closing Date and concurrent with the effectiveness of the assignment transactions contemplated pursuant to Section 3 of this Agreement, the Post-Assignment Transaction
Parties, the Existing Lessor and the Existing Agent acknowledge that Wachovia Development Corporation, in its capacity as the Lessor, shall retain all right, title and interest in and to the Property previously held by Wachovia Development
Corporation, in its capacity as the Existing Lessor, for all purposes pursuant to the Operative Agreements, in all cases free and clear of Existing Lessor Liens, including without limitation the ownership, ground lease interest and all other right,
title and interest in and to the real property, personal property, improvements, fixtures, and tangible and intangible property of the Existing Lessor (the “Retention of Interest”). Subject to the last sentence of this
Section 4, the Existing Lessor shall promptly cause to be taken, executed, notarized, authorized, acknowledged, consented, and delivered, as applicable, all such further acts, conveyances, documents, instruments and assurances to
evidence the Retention of Interest and to otherwise effectuate the intent and purpose of this Agreement. All acts, conveyances, documents, instruments, assurances and other matters undertaken or performed pursuant to or in connection with this
Section 4 shall be at the sole cost and expense of the Lessee, whether with respect to matters contemplated by this Agreement, the Existing Operative Agreements, the Operative Agreements or otherwise. 

5. Renewal and Modification of Existing Security Filings and Existing Security Documents. Except as otherwise contemplated under
the Operative Agreements but in all cases subject to the last sentence of this Section 5, all applicable parties to this Agreement hereby agree to (and hereby, as applicable, direct the Existing Agent and the Existing Lessor to), and all
applicable parties to this Agreement (including without limitation the Existing Agent and the Existing Lessor) each agree to, promptly cause to be taken, executed, notarized, authorized, acknowledged, consented, and delivered, as applicable, all
such further acts, conveyances, documents, instruments and assurances to complete the assignment and assumption transactions contemplated by this Agreement and the renewal and modification of the Existing Security Filings and the Existing Security
Documents in connection with the Operative Agreements and to otherwise effectuate the intent and purpose of this Agreement. All acts, conveyances, documents, instruments, assurances and other matters undertaken or performed pursuant to or in
connection with this Section 5 shall be at the sole cost and expense of the Lessee, whether with respect to matters contemplated by this Agreement, the Existing Operative Agreements, the Operative Agreements or otherwise. 

 

 10 

 6. Amendment and Restatement of Existing Operative Agreements; Continuing
Obligations. The Post-Assignment Transaction Parties agree that the applicable Existing Operative Agreements shall automatically be amended and restated pursuant to the applicable Operative Agreements as of the Closing Date and concurrent with
the effectiveness of the assignment transactions contemplated pursuant to Section 3 of this Agreement. Notwithstanding the foregoing, (a) the Existing Lessee and the Existing Guarantors shall continue to be bound by the terms of the
Existing Operative Agreements and the obligations thereunder which are expressly contemplated to continue subsequent to the assignment of the Existing Credit Notes, the Existing Mortgage Loans and each Existing Lessor Advance, including without
limitation obligations pursuant to Section 11 of the Existing Participation Agreement (all such obligations may be referred to herein, collectively, as the “Continuing Obligations”) and (b) the beneficiaries of the
Continuing Obligations shall continue to retain the benefit of the Continuing Obligations; provided, the Continuing Obligations shall no longer be secured pursuant to the Existing Security Documents. 

7. Resignation of Existing Agent and Existing Lessor. The Post-Assignment Transaction Parties hereby agree that after the Existing
Agent and the Existing Lessor complete their respective obligations under this Agreement, then the Existing Agent and the Existing Lessor shall be deemed to have resigned their respective capacities as “Existing Agent” and as
“Existing Lessor”, as applicable, pursuant to the Existing Operative Agreements, and the Post-Assignment Transaction Parties hereby agree that such resignation shall be immediately effective notwithstanding any further or additional
requirement in the Existing Operative Agreements to the contrary; provided, notwithstanding the foregoing and to the extent necessary to enforce any of the Continuing Obligations, the Post-Assignment Transaction Parties hereby agree that
Wells Fargo Bank, National Association shall act as the Existing Agent and that Wachovia Development Corporation shall act as the Existing Lessor. 

8. Continued Effectiveness of Operative Agreements. The Post-Assignment Transaction Parties hereby agree that all of the terms and
conditions of the Operative Agreements are hereby ratified and affirmed and shall remain in full force and effect. 
 9.
Direction to Existing Agent and Existing Lessor. Each of the Existing Agent and the Existing Lessor is hereby directed to enter into this Agreement and such other documents necessary to effectuate the intent of this Agreement. 

10. Miscellaneous. 

(a) Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 (b) Counterparts. This Agreement may be
executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. Delivery of
an executed counterpart by telecopy shall be as effective as delivery of a manually executed counterpart hereto and shall constitute a representation that an original executed counterpart will be provided. 

(c) Headings. The headings of the various articles and sections of this Agreement are for convenience of reference
only and shall not modify, define, expand or limit any of the terms or provisions hereof. Unless otherwise stated, references to Sections made in this Agreement shall be interpreted as references to the applicable Section herein. 

 

 11 

 (d) GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED, INTERPRETED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW), EXCEPT TO THE EXTENT THE
LAWS OF THE STATE WHERE THE PROPERTY IS LOCATED ARE REQUIRED TO APPLY. 
 (e) JURISDICTION, VENUE AND WAIVER
OF JURY TRIAL. THE PROVISIONS OF THE PARTICIPATION AGREEMENT RELATING TO ACTIONS AND PROCEEDINGS ARE HEREBY INCORPORATED BY REFERENCE HEREIN, MUTATIS MUTANDIS AND SHALL APPLY TO THIS AGREEMENT AND ALL PARTIES HERETO. 

(f) Further Assurances. The provisions of the Participation Agreement relating to further assurances are hereby
incorporated by reference herein, mutatis mutandis and shall apply to this Agreement and all parties hereto. 

(g) Agreement. This Agreement shall not be terminated, amended, supplemented, waived, modified or discharged except
by an instrument in writing executed by the party against which enforcement is sought. 
 (h) Costs and
Expenses. In connection with the preparation, execution, delivery and performance of this Agreement, the Lessee agrees to pay all reasonable costs and out-of-pocket expenses of (i) the Existing Financing Parties and (ii) the
Post-Assignment Financing Parties, including without limitation in the case of the foregoing (i) and (ii) the reasonable fees and expenses of Moore & Van Allen, PLLC, Chapman and Cutler LLP, and Holland & Knight LLP.

 [remainder of page intentionally left blank] 
  

 12 

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

			
	CONVERGYS CORPORATION, as the Existing
Lessee and the Lessee
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	CONVERGYS CUSTOMER MANAGEMENT
GROUP INC., as an Existing Guarantor and as a
Guarantor
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	CONVERGYS INFORMATION MANAGEMENT
GROUP INC., as an Existing Guarantor and as a
Guarantor
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	WACHOVIA DEVELOPMENT CORPORATION,
	as the Existing Lessor and the Lessor
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	METROPOLITAN LIFE INSURANCE COMPANY,
	as an Existing Credit Note Purchaser
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 WESTPORT INSURANCE CORPORATION

(f/k/a Employers Reinsurance Corporation,
 as an
Existing Credit Note Purchaser

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 [signature pages continue] 

Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 GENWORTH LIFE INSURANCE COMPANY

(f/k/a General Electric Capital Assurance Company),

as an Existing Credit Note Purchaser

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

(successor-by-merger to Wachovia Bank, National

Association), as an Existing Mortgage Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

(successor-by-merger to Wachovia Bank, National

Association), as the Existing Agent

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	CONVERGYS CMG UTAH, INC., as a Guarantor
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Encore Receivable Management, Inc., as a Guarantor
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	INTERVOICE, INC., as a Guarantor
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	CONVERGYS GOVERNMENT SOLUTIONS LLC, as a Guarantor
		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	THE BANK OF NOVA SCOTIA, as a Credit Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	BNP PARIBAS LEASING CORPORATION, as a
Credit Lender and as a Mortgage Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Mortgage Lender

		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signature pages continue] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as the Agent

		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signature pages end] 
  

 Assignment and Recharacterization Agreement 

Convergys Corporation 

 SCHEDULE 1 

 

	Part A:    	Assignment Amounts to be Paid by Lenders and Lessor pursuant to Section 2(a) of the Assignment and Recharacterization Agreement 

 

				
	 Party
	  	Assignment Amount to be Paid
	 The Bank of Nova Scotia, as a Credit Lender
	  	$	15,000,000
		
	 BNP Paribas Leasing Corporation, as a Credit Lender
	  	$	14,000,000
		
	 Wells Fargo Bank, National Association, as a Mortgage Lender
	  	$	16,100,000
		
	 BNP Paribas Leasing Corporation, as a Mortgage Lender
	  	$	6,000,000
		
	 Wachovia Development Corporation, as the Lessor
	  	$	3,900,000

	Part B:    	Amounts Owed by the Existing Lessee to Existing Debt Providers and Existing Lessor pursuant to Section 2(a) of the Assignment and Recharacterization
Agreement 

  

										
	 Existing Debt Providers
	  	Loan Interest	  	Fees/Breakage/Make-Whole
Amount/Other
	  	Total
	 Metropolitan Life Insurance Company, as a Credit Note Purchaser
	  	$	135,666.67	  	$	0	  	$	135,666.67
				
	 Westport Insurance Corporation (f/k/a Employers Reinsurance Corporation), as a Credit Note Purchaser
	  	$	25,437.50	  	$	0	  	$	25,437.50
				
	 Genworth Life Insurance Company (f/k/a General Electric Capital Assurance Company), as a Credit Note Purchaser
	  	$	25,437.50	  	$	0	  	$	25,437.50
				
	 Wells Fargo Bank, National Association (successor-by-merger to Wachovia Bank, National Association, as a Mortgage
Lender
	  	$	8,969.37	  	$	0	  	$	8,969.37

  

										
	 Existing Lessor
	  	Lessor Yield	  	Fees/Breakage/Make-Whole
Amount/Other
	  	Total
	 Wachovia Development Corporation
	  	$	5,734.51	  	$	0	  	$	5,734.51

	Part C:    	Assigned Loan Facility Owed to Existing Debt Providers and Assigned Lessor Facility Owed to Existing Lessor 

Assigned Loan Facility 
  

													
	 Existing Debt Providers
	  	Loan Principal	  	Interest	  	Fees/Breakage/
Make-Whole

Amount/Other	  	Total
	 Metropolitan Life Insurance Company
	  	$	32,727,272.72	  	$	135,666.67	  	$	0	  	$	32,862,939.39
					
	 Westport Insurance Corporation (f/k/a Employers Reinsurance Corporation)
	  	$	6,136,363.64	  	$	25,437.50	  	$	0	  	$	6,161,801.11
					
	 Genworth Life Insurance Company (f/k/a General Electric Capital Assurance Company)
	  	$	6,136,363.64	  	$	25,437.50	  	$	0	  	$	6,161,801.11
					
	 Wells Fargo Bank, National Association (successor-by-merger to Wachovia Bank, National Association, as a Mortgage
Lender
	  	$	6,100,000.00	  	$	8,969.37	  	$	0	  	$	6,108,969.37

 The Loan Principal amounts
reflected above in this Part C for each of the Existing Credit Note Purchasers are the principal balances of the Existing Credit Loans due and owing after a prepayment (in the amounts set forth below) by the Existing Lessee of the Existing
Credit Loans on the Closing Date: 
  

				
	 Metropolitan Life Insurance Company
	  	$	7,272,727.28
	 Westport Insurance Company
	  	$	1,363,636.36
	 Genworth Life Insurance Company
	  	$	1,363,636.36

 Assigned
Lessor Facility 
  

													
	 Existing Lessor
	  	Lessor Advance	  	Lessor Yield	  	Fees/Breakage/
Make-Whole

Amount/Other	  	Total
	 Wachovia Development Corporation
	  	$	3,900,000.00	  	$	5,734.51	  	$	0	  	$	3,905,734.51

 SCHEDULE 2 

Amounts Owed to the Lenders and the Lessor after Assignment and Assumption of Existing Notes and Existing Lessor Advances and after Recharacterization
pursuant to Section 3(d) of the Assignment and Recharacterization Agreement 
  

				
	 Credit Lenders
	  	Credit Loan 
Principal
Amount
	 The Bank of Nova Scotia
	  	$	15,000,000
	 BNP Paribas Leasing Corporation
	  	$	14,000,000
		
	 Mortgage Lenders
	  	Mortgage Loan 
Principal
Amount
	 Wells Fargo Bank, National Association
	  	$	16,100,000
	 BNP Paribas Leasing Corporation
	  	$	6,000,000
		
	 Lessor
	  	Lessor Advance
	 Wachovia Development Corporation
	  	$	3,900,000

 SCHEDULE 3 

Copies of Existing Notes 

 SCHEDULE 4 

Wire Transfer Instructions 
  

			
	 Part A:
	  	Payments from the Lenders and the Lessor of amounts pursuant to Schedule 1 Part A
		
		  	Wells Fargo Bank, National Association – Wire Instructions
		
		  	 Wells Fargo Bank, National Association

		  	 ABA Routing #: 053000219

		  	 Account No.: 5000000044443

		  	 Account Name: Convergys Corp.

		  	 Attention: Jessica Heflin-Knop

		
	Part B:	  	Payments from the Existing Lessee of amounts from Schedule 1 Part B
		
		  	Wells Fargo Bank, National Association – Wire Instructions:
		
		  	 Wells Fargo Bank, National Association

		  	 ABA Routing #: 053000219

		  	 Account No.: 5000000044443

		  	 Account Name: Convergys Corp.

		  	 Attention: Jessica Heflin-Knop

		
	Part C:	  	Payments from Wells Fargo Bank, National Association to the Existing Debt Providers and the Existing Lessor
		
		  	Metropolitan Life Insurance Company – Wire Instructions:
		
		  	 Bank Name: JPMorgan Chase Bank

		  	 ABA Routing #: 021-000-021

		  	 Account No.: 002-2-410591

		  	 Account Name: Metropolitan Life Insurance Company

		  	 Ref: Convergys Synthetic Lease

			
		  	 Westport Insurance Corporation (f/k/a Employers Reinsurance Corporation – Wire Instructions):

		
		  	 Chase Bank

		  	 One Chase Manhattan Plaza

		  	 New York, New York 10081

		  	 ABA No. 021-000-021

		  	 Account: Bond Interest

		  	 Account No. 9009002859

		  	 FFC Acct Name: ERC Total Return PP (TRPP) and Account #G10185

		  	 Reference: Convergys Corporation

		
		  	 Genworth Life Insurance Company – Wire Instructions:

		
		  	 The Bank of New York

		  	 ABA #021000018

		  	 A/C # IOC564

		  	 A/C Name: Redemptions Suspense

		  	 FFC GLIC 127459 REF PPN 92977@AB0

		
		  	 Wells Fargo Bank, National Association – Payment Instructions:

		
		  	 Payment to be made pursuant to intra-bank accounting entries or as such entities shall otherwise reasonably
determine

		
		  	 Wachovia Development Corporation – Payment Instructions:

		
		  	 Payment to be made pursuant to intra-bank accounting entries or as such entities shall otherwise reasonably
determine

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