Document:

Amendment and Restatement Agreement

 Exhibit 10.46 
 DATED April 15, 2008 
 BST SAFETY TEXTILES ACQUISITION GMBH 
 arranged by 
 GOLDMAN SACHS CREDIT PARTNERS
L.P. 
 and 
 UBS
SECURITIES LLC 
 as Mandated Lead Arrangers 
 with 
 GOLDMAN SACHS CREDIT PARTNERS L.P. 
 acting as Priority Agent 
 UBS AG, STAMFORD BRANCH 
 acting as Second Lien Agent 
 and

 GOLDMAN SACHS CREDIT PARTNERS L.P. 
 acting as Security Agent 
  
  
 AMENDMENT AND RESTATEMENT

 AGREEMENT 
 relating
to a €155,000,000 Term and 
 Revolving Facilities Agreement 
 and the Intercreditor Deed 
  
  

 TABLE OF CONTENTS 
  

							
	 	 	 	    	 	  	Page
			
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	1
			
	 2.
	 	CONDITIONS TO THE AMENDMENTS	  	2
			
	 3.
	 	AMENDMENT AND RESTATEMENT OF THE CREDIT AGREEMENT AND THE INTERCREDITOR DEED	  	3
			
	 4.
	 	MISCELLANEOUS	  	3
			
	 5.
	 	GUARANTEE	  	3
			
	 6.
	 	SECURITY	  	4
			
	 7.
	 	BORROWER ACCESSION	  	4
			
	 8.
	 	GOVERNING LAW	  	4
			
	 SCHEDULE 1
	    	THE BORROWERS AND THE GUARANTORS	  	
			
	 SCHEDULE 2
	    	CONDITIONS PRECEDENT	  	
			
	 ANNEX A
	    	AMENDED AND RESTATED CREDIT AGREEMENT	  	
			
	 ANNEX B
	    	AMENDED AND RESTATED INTERCREDITOR DEED	  	

 DATED April 15, 2008 
 PARTIES 
  

	(1)	BST U.S. HOLDINGS, LLC, a company duly incorporated and validly existing under the laws of the State of Delaware having its principal place of business at 2711 Centerville
Road, Suite 400, City of Wilmington, County of New Castle, Delaware 19808, the United States of America (the “Parent”); 

  

	(2)	BST SAFETY TEXTILES ACQUISITION GMBH, a limited liability company duly incorporated and validly existing under the laws of the Federal Republic of Germany having its
corporate seat in Freiburg i.Br. and which is registered in the Commercial Register in Freiburg i.Br. under registration number HRB 702044 (the “Original Borrower”); 

  

	(3)	THE COMPANIES listed in Schedule 1 (Borrowers and Guarantors) as revolving borrowers (the “Revolving Borrowers”); 

  

	(4)	THE COMPANIES listed in Schedule 1 (Borrowers and Guarantors) as guarantors (the “Guarantors”); 

  

	(5)	GOLDMAN SACHS CREDIT PARTNERS L.P. and UBS SECURITIES LLC as mandated lead arrangers (the “Mandated Lead Arrangers”); 

  

	(6)	GOLDMAN SACHS CREDIT PARTNERS L.P. acting on behalf of the Priority Lenders and as agent of the other Priority Finance Parties (the “Priority Agent”);

  

	(7)	UBS AG, STAMFORD BRANCH acting on behalf of the Second Lien Lenders and as agent of the other Second Lien Finance Parties (the “Second Lien Agent” and
together with the Priority Agent the “Agents”); 

  

	(8)	GOLDMAN SACHS CREDIT PARTNERS L.P. as security agent for the Secured Parties (the “Security Agent”); and 

  

	(9)	EACH LENDER listed in the signature pages to this Agreement as a Lender. 

 RECITALS 
  

	(A)	The Parties have entered into a term and revolving facility agreement dated 8 December, 2006 (as amended on 1 April 2007, 11 June 2007 and 16 November 2007) (the
“Credit Agreement”) pursuant to which the Original Lenders made Loans to the Borrowers. 

  

	(B)	The Parties have agreed to amend and restate the Credit Agreement and the Intercreditor Deed on the terms of this Agreement. 

 OPERATIVE PROVISIONS 
  

	1.	DEFINITIONS AND INTERPRETATION 

 In this Agreement:

  

	 	(a)	“Amended and Restated Credit Agreement” means the form of amended and restated credit agreement set out in Annex A to this Agreement; 

  

	 	(b)	“Amended and Restated Intercreditor Deed” means the form of amended and restated intercreditor deed set out in Annex B to this Agreement; 

	 	(c)	terms defined in the Amended and Restated Credit Agreement have the same meanings when used in this Agreement unless the context requires otherwise; 

  

	 	(d)	the provisions of Clause 1.2 (Construction) of the Amended and Restated Credit Agreement apply to this Agreement as though they were set out in full in this Agreement except
that references to the Amended and Restated Credit Agreement are to be construed as references to this Agreement; and 

  

	 	(e)	the Parties intend that this Agreement shall take effect as a deed notwithstanding that a party may execute it underhand. 

  

	2.	CONDITIONS TO THE AMENDMENTS 

  

	2.1	Initial conditions 

 The amendments contained in
this Agreement shall only be effective upon receipt by the Agents of all of the documents and other evidence listed in Schedule 2 (Conditions Precedent). The Agents shall notify the Parent and the Lenders promptly upon satisfactory receipt
with such date of notification being the “Effective Date”. 
  

	2.2	Further conditions 

 Each Obligor confirms that on
the date of this Agreement and as of the Effective Date: 
  

	 	(a)	no Default or Event of Default is continuing; 

  

	 	(b)	all the Repeating Representations are true; 

  

	 	(c)	that the Realignment Information Package is in compliance with Clause 25.4(b) of the Amended and Restated Credit Agreement and is not misleading in any material respect;

  

	 	(d)	that the documents and evidence delivered to the Agents in respect of paragraph 3 of Schedule 2 (Conditions Precedent): 

  

	 	(i)	comprise all of the material credit documents (including any amendments to them) to which ASCI or any Subsidiary of ASCI may be party and are true, accurate and complete copies of
such credit documents; and 

  

	 	(ii)	the terms of such credit documents do not require any payment (whether in cash or kind) to be paid by any member of BST Group (both before and after the Realignment Completion Date
and including Narricot (or its successor or entities)) to the financiers under or in connection with those documents; 

  

	 	(e)	that the documents and evidence delivered to the Agents in respect of the implementation of Steps 1 to 4 in respect of paragraph 5 of Schedule 2 (Conditions Precedent)
comprise all of the documents necessary to implement Steps 1 to 4 and are true, accurate and complete copies of such documents; and 

  

	 	(f)	the group structure chart delivered to the Agents in respect of paragraph 9 of Schedule 2 (Conditions Precedent) shows each member of the BST Group after the Realignment
Completion Date and is true, complete and accurate in all material respects. 

	3.	AMENDMENT AND RESTATEMENT OF THE CREDIT AGREEMENT AND THE INTERCREDITOR DEED 

 The Parties agree that with effect from the Effective Date, the Credit Agreement and the Intercreditor Deed shall be amended and restated in the form of the Amended and Restated Credit Agreement and the Amended and
Restated Intercreditor Deed respectively. 
  

	4.	MISCELLANEOUS 

  

	4.1	The provisions of Clauses 41 (Counterparts) and 43 (Enforcement) of the Amended and Restated Credit Agreement apply to this Agreement as though they were set out in
full in this Agreement except that references to the Amended and Restated Credit Agreement are to be construed as references to this Agreement. 

  

	4.2	This Agreement is a Finance Document. 

  

	4.3	Except as otherwise provided in this Agreement, the Finance Documents remain in full force and effect. 

  

	4.4	Except to the extent expressly waived in this Agreement, no waiver is given by this Agreement, and the Lenders expressly reserve all their rights and remedies in respect of any
breach of, or other Default under, the Finance Documents. 

  

	4.5	This Agreement only takes effect upon execution by all the Parties stated in the signature pages to this Agreement. 

  

	4.6	With effect from the date that the Majority Lenders have consented to the terms of this Agreement, the references to “14 April 2008” in paragraphs 5(a) and 6(a)(ii) of the
Waiver Letter shall be replaced by “15 April 2008”. 

  

	4.7	Except in relation to the waivers granted pursuant to paragraph 2 and except in respect of paragraph 12 of the Waiver Letter, the Waiver Letter and each amendment thereof shall
terminate with effect from the Effective Date. 

  

	5.	GUARANTEE 

 On the Effective Date, each Obligor:

  

	 	(a)	confirms its acceptance of the Credit Agreement and the Intercreditor Deed (as amended by this Agreement); 

  

	 	(b)	agrees that it is bound as an Obligor by the terms of the Credit Agreement and the Intercreditor Deed (as amended by this Agreement); and 

  

	 	(c)	(if a Guarantor) confirms that its guarantee: 

  

	 	(i)	continues in full force and effect on the terms of the Credit Agreement as amended and any Accession Letter applicable to that Guarantor; and 

  

	 	(ii)	extends to the obligations of the Obligors under the Finance Documents (including the Credit Agreement as amended by this Agreement), 

 in each case, subject to any limitations set out in Clauses 23.10 (Guarantee Limitations applicable to German Guarantors), 23.11
(Guarantee Limitations applicable to U.S. Obligors), 23.12 (Guarantee Limitations applicable to Czech 

 
Guarantors) and 23.13 (Guarantee Limitations applicable to Romanian Guarantors) of the Amended and Restated Credit Agreement or as so amended
and any relevant Accession Letter applicable to that Guarantor. 
  

	6.	SECURITY 

  

	6.1	Confirmation 

 On the Effective Date, each Obligor
confirms that: 
  

	 	(a)	any Transaction Security created by it under the Transaction Security Documents extends to the obligations of the Obligors under the Finance Documents (including the Credit
Agreement and the Intercreditor Deed as amended by this Agreement) subject to any limitations set out in the Transaction Security Documents; 

  

	 	(b)	the obligations of the Obligors arising under the Credit Agreement and the Intercreditor Deed as amended by this Agreement are included in the Secured Obligations (as defined in the
Transaction Security Documents) subject to any limitations set out in the Transaction Security Documents; and 

  

	 	(c)	the Transaction Security created under the Transaction Security Documents continues in full force and effect on the terms of the respective Transaction Security Documents.

  

	6.2	No New Security Interest 

 No part of this Agreement
is intended to or will create a registrable security interest. 
  

	7.	BORROWER ACCESSION 

 For the purpose of clause
30.2(a)(i) of the Credit Agreement and with effect from the date that the other conditions of Clause 30.2 (Additional Borrowers) of the Amended and Restated Credit Agreement have been satisfied or waived, each Lender consents to the addition
of ITG Automotive Safety UK Ltd, BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC) and Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International,
Inc.) as Borrowers under the Revolving Facility. 
  

	8.	AMENDMENT FEE 

 Within three Business Days of all
the Parties having executed this Agreement, the Parent must pay the Agents (for the account of each Lender in the proportion that all the Commitments of that Lender bears to the Total Commitments) an amendment fee of 0.25 per cent. of the Total
Commitments. 
  

	9.	GOVERNING LAW 

 This Agreement is governed by
English law. 
 This Agreement has been duly executed as a deed and delivered on the date stated at the beginning of this Agreement. 

 SCHEDULE 1 
 The Borrowers and the Guarantors 
  

			
	Name of Borrower	  	Registration number (or equivalent, if any)
		
	BST Safety Textiles Acquisition GmbH	  	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	Name of Revolving Borrower	  	Registration number (or equivalent, if any)
		
	BST Safety Textiles Acquisition GmbH	  	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles GmbH	  	HRB 670522 (commercial register of the local court of Freiburg i.Br.)
		
	Narricot Industries L.P.	  	N/A
		
	Name of Guarantor	  	Registration number (or equivalent, if any)
		
	BST U.S. Holdings, LLC	  	N/A
		
	Narricot Industries Management Corp.	  	N/A
		
	Narricot Industries L.P.	  	N/A
		
	BST Safety Textiles LLC	  	N/A
		
	BST Safety Textiles Acquisition GmbH	  	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles GmbH (renamed or to be renamed ITG Automotive Safety Textiles GmbH)	  	HRB 670522 (commercial register of the local court of Freiburg i.Br.)
		
	BST Breitgewebe International GmbH	  	HRB 670523 (commercial register of the local court of Freiburg i.Br.)
		
	BST Breitgewebe Verwaltungs GmbH	  	HRB 670527 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles Sp.z. o.o	  	KRS 107538

 SCHEDULE 2 
 Conditions Precedent 
  

	1.	Delivery to the Agents of a copy of the ITG Realignment Memorandum in the agreed form. 

  

	2.	Delivery to the Agents of a copy of the Realignment Information Package in the agreed form. 

  

	3.	Copies of all material credit documents to which ASCI or any Subsidiary of ASCI may be party. 

  

	4.	[Intentionally left blank.] 

  

	5.	Delivery to the Agents of copies of all documentation implementing Steps 1 to 4 (except the fair valuation opinion, if required, in connection with Step 4) and duly executed
counterparts of any Transaction Security Documents (including amendments to them) as a result of implementing Steps 1 to 4 required by the Security Agent. 

  

	6.	A copy of a resolution of the board of directors (and/or; if applicable, the supervisory board or the shareholder(s)) of each Obligor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by this Agreement and any other document to which it is to be a party that is required to be delivered pursuant to the
Amended and Restated Credit Agreement; 

  

	 	(b)	authorising a specified person or persons to execute this Agreement and any other document to which it is to be a party that is required to be delivered pursuant to the Amended and
Restated Credit Agreement; and 

  

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices to be signed and/or despatched by it under or in connection with this
Agreement and any other document to which it is to be a party that is required to be delivered pursuant to the Amended and Restated Credit Agreement, 

 each in form and substance satisfactory to the Agents. 
  

	7.	[Intentionally left blank.] 

  

	8.	Evidence that fees duly invoiced on or before the date of this Agreement pursuant to paragraphs (b) and(c) of Clause 12 (Costs and expenses) of the Waiver Letter have
been paid or will be paid within 10 Business Days of the date of this Agreement. 

  

	9.	A group structure chart showing the BST Group after the Realignment Completion Date in form and substance satisfactory to the Agents. 

 SIGNATURES 
  

			
	THE PARENT
	BST U.S. HOLDINGS, LLC
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	 THE ORIGINAL BORROWER
 BST SAFETY
TEXTILES ACQUISITION GMBH

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	 THE REVOLVING BORROWERS
 BST SAFETY
TEXTILES ACQUISITION GMBH

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST SAFETY TEXTILES GMBH (RENAMED OR TO BE RENAMED ITG AUTOMOTIVE SAFETY TEXTILES GMBH)
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

			
	NARRICOT INDUSTRIES L.P.
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	 THE GUARANTORS
 THE
PARENT
 BST U.S. HOLDINGS, LLC

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST SAFETY TEXTILES ACQUISITION GMBH
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST SAFETY TEXTILES GMBH
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST BREITGEWEBE INTERNATIONAL GMBH
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

			
	BST BREITGEWEBE VERWALTUNGS GMBH
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	NARRICOT INDUSTRIES MANAGEMENT CORP.
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	NARRICOT INDUSTRIES L.P.
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST SAFETY TEXTILES LLC
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	BST SAFETY TEXTILES SP. ZO.O
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

			
	 THE MANDATED LEAD ARRANGERS
  
 GOLDMAN SACHS CREDIT PARTNERS L.P.

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	UBS SECURITIES LLC
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	 THE PRIORITY AGENT
  
 GOLDMAN SACHS CREDIT PARTNERS L.P. (FOR AND ON BEHALF OF THE PRIORITY LENDERS)

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	THE SECOND LIEN AGENT (FOR AND ON BEHALF OF THE SECOND LIEN LENDERS) UBS AG, STAMFORD BRANCH
	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

			
	 THE SECURITY AGENT
  
 GOLDMAN SACHS CREDIT PARTNERS L.P

	
	Signed and executed as a Deed
		
	By:	 	 /s/

		
	By:	 	 /s/

	
	Lender
	
	IKB DEUTSCHE INDUSTRIEBANK AG, LONDON BRANCH 
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ K. McGill

	Name:	 	K. McGill
	Title:	 	Director
		
	By:	 	 /s/ D. Ardron

	Name:	 	D. Ardron
	Title:	 	Director
	
	GE Corporate Finance Bank SAS
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Nicole Gates

	Name:	 	Nicole Gates
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Galina Markova

	Name:	 	Galina Markova
	Title:	 	Authorized Signatory
	
	SunTrust Bank
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ William Humphries

	Name:	 	William Humphries
	Title:	 	Managing Director
	
	Landesbank Baden-Württemberg
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Gabriele Eisenmann

	Name:	 	Gabriele Eisenmann
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ Raphael Denger

	Name:	 	Raphael Denger
	Title:	 	
	
	The CIT Group/Business Credit, Inc. 

  

			
	Signed and executed as a Deed:
		
	By:	 	 /s/ Jang Kim

	Name:	 	Jang Kim
	Title:	 	Vice President
	
	Alie Street Investments 18 Limited
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Sudhir Jain

	Name:	 	Sudhir Jain
	Title:	 	Director
		
	By:	 	 /s/ Mark Smith

	Name:	 	Mark Smith
	Title:	 	Director
	
	Alie Street Investments Limited
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Sudhir Jain

	Name:	 	Sudhir Jain
	Title:	 	Director
		
	By:	 	 /s/ Mark Smith

	Name:	 	Mark Smith
	Title:	 	Director
	
	ARES EURO CLO I B.V.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Miles Alexander

	Name:	 	Miles Alexander
	Title:	 	Director
	
	Bacchus 2006-1-PLC & Bacchus 2007-1 PLC
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Jonathan Lavinier

	Name:	 	Jonathan Lavinier
	Title:	 	Manager

  

			
	By:	 	 /s/ Daniel Gooch

	Name:	 	Daniel Gooch
	Title:	 	Manager
	
	CIFC International
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Jennifer Billings

	Name:	 	Jennifer Billings
	Title:	 	Investment Executive
	
	Coltrane CLO Plc
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Richard Heis

	Name:	 	Richard Heis
	Title:	 	Receiver

 Richard Heis is authorized to act as an insolvency practitioner by the ICAEW 
 Ray Jackson is authorized to act as an insolvency practitioner by the IPA 
 The Receivers act as agent for Coltrane CLO Plc and contract without personal liability 
  

			
	GOLDMAN SACHS ASSET MANAGEMENT CLO, PUBLIC LIMITED COMPANY
		
	By:	 	 Goldman Sachs Asset Manager, L.P.,
 as
Manager

	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Sandra L. Stulberger

	Name:	 	Sandra L. Stulberger
	Title:	 	Authorized Signatory
	
	Highlander Euro CDO II B.V.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Mark K. Okada

	Name:	 	Mark K. Okada
	Title:	 	Executive Vice President, Strand Advisors, Inc., General Partner of Highland Capital Management, L.P.
	
	Highlander Euro CDO III B.V.

  

			
	Signed and executed as a Deed:
		
	By:	 	 /s/ Mark K. Okada

	Name:	 	Mark K. Okada
	Title:	 	Executive Vice President, Strand Advisors, Inc., General Partner of Highland Capital Management, L.P.
	
	Highlander Euro CDO IV B.V.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Mark K. Okada

	Name:	 	Mark K. Okada
	Title:	 	Executive Vice President, Strand Advisors, Inc., General Partner of Highland Capital Management, L.P.
	
	King’s Cross Asset Funding 18 Sarl
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Daniel Hodgson

	Name:	 	Daniel Hodgson
	Title:	 	Authorized Signatory
	
	Sankaty Advisors, LLC as Collateral Manager for Nash Point CLO, Limited, as Collateral Manager
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	Chief Compliance Officer Assistant Secretary
	
	Nash Point II CLO
		
	By:	 	 Sankaty Advisors LLC,
 as Collateral
Manager

  

			
	Signed and executed as a Deed:
		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	Sankaty Advisors, LLC as Collateral Manager for Race Point III CLO, Limited as Term Lender
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	Chief Compliance Officer Assistant Secretary
	
	CYPRESSTREE CLAIF FUNDING LLC
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Tara E. Kenny

	Name:	 	Tara E. Kenny
	Title:	 	Assistant Vice President
	
	Highland Credit Strategies Fund
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer
	
	Highland Distressed Opportunities, Inc.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer

  

					
	King’s Cross Asset Funding 12 Sarl
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Ruben Autie

	Name:	 	Ruben Autie
	Title:	 	Authorized Signatory
	
	MARATHON FINANCING I B.V. 
			
		 	By:	 	Marathon Asset Management LC
		 	Its:	 	Portfolio Manager and Authorized Signatory
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Louis T. Hanover

	Name:	 	Louis T. Hanover
	Title:	 	Authorized Signatory
	
	Sandler Capital Structure Opportunities Master Fund, Ltd. 
			
		 	By:	 	Sandler Capital Management, its Investment Manager
		 	By:	 	SERF Corp., a general partner
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Moira Mitchell

	Name:	 	Moira Mitchell
	Title:	 	President
	
	HARBOUR TOWN FUNDING LLC 
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Tara E. Kenny

	Name:	 	Tara E. Kenny
	Title:	 	Assistant Vice President

  

			
	LONG LANE MASTER TRUST IV
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Tara E. Kenny

	Name:	 	Tara E. Kenny
	Title:	 	Assistant Vice President
	
	Sankaty Advisors, LLC as Collateral Manager for Prospect Funding I, LLC as Term Lender
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	Chief Compliance Officer Assistant Secretary
	
	THE MANDATED LEAD ARRANGERS
	
	GOLDMAN SACHS CREDIT PARTNERS L.P.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	UBS SECURITIES LLC 
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Mary E. Evans

	Name:	 	Mary E. Evans
	Title:	 	Associate Director
		
	By:	 	 /s/ David B. Julie

	Name:	 	David B. Julie
	Title:	 	Associate Director
	
	THE PRIORITY AGENT
	
	GOLDMAN SACHS CREDIT PARTNERS L.P. (FOR AND ON BEHALF OF THE PRIORITY LENDERS)
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

  

			
	THE SECOND LIEN AGENT (FOR AND ON BEHALF OF THE SECOND LIEN LENDERS) UBS AG, STAMFORD BRANCH
	
	Signed and executed as a Deed:
		
	By:	 	 /s/ Mary E. Evans

	Name:	 	Mary E. Evans
	Title:	 	Associate Director
		
	By:	 	 /s/ David B. Julie

	Name:	 	David B. Julie
	Title:	 	Director
	
	THE SECURITY AGENT
	
	GOLDMAN SACHS CREDIT PARTNERS L.P.
	
	Signed and executed as a Deed:
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

 ANNEX A 
 Amended and Restated Credit Agreement 

 ANNEX A TO AMENDMENT AGREEMENT 
 TERM AND REVOLVING FACILITIES AGREEMENT 
 dated 8 DECEMBER 2006 as amended on
1 APRIL 2007, 11 JUNE 2007, 16 November 
 2007 and amended and restated on 15 April 2008 
 for 
 BST SAFETY TEXTILES
ACQUISITION GMBH 
 arranged by 
 GOLDMAN SACHS CREDIT PARTNERS L.P. 
 and 
 UBS SECURITIES LLC 
 as Mandated Lead Arrangers 
 with 
 GOLDMAN SACHS CREDIT PARTNERS
L.P. acting as Priority Agent 
 UBS AG, STAMFORD BRANCH 
 acting as Second Lien Agent 
 UBS AG, STAMFORD BRANCH 
 acting as Issuing Bank 
 GOLDMAN
SACHS CREDIT PARTNERS L.P. 
 acting as Security Agent 
 GE CORPORATE FINANCE BANK SAS 
 acting as Documentation Agent 

and 
 SUNTRUST BANK

 acting as Documentation Agent 
 THIS FACILITIES AGREEMENT IS ENTERED INTO WITH THE BENEFIT OF 
 AND SUBJECT TO THE TERMS OF AN INTERCREDITOR DEED OF EVEN

 DATE HEREWITH 
 

 
 99 Bishopsgate 
 London EC2M 3XF 
 (44) 020 7710 1000 (Tel) 
 (44) 020 7374 4460 (Fax) 

 TABLE OF CONTENTS 
  

					
	Clause	 	 	  	Page
	1.	 	DEFINITIONS AND INTERPRETATION	  	5
			
	2.	 	THE FACILITIES	  	41
			
	3.	 	PURPOSE	  	42
			
	4.	 	CONDITIONS OF UTILISATION	  	43
			
	5.	 	UTILISATION - LOANS	  	44
			
	6.	 	OPTIONAL CURRENCIES	  	45
			
	7.	 	UTILISATION - LETTERS OF CREDIT	  	46
			
	8.	 	LETTERS OF CREDIT	  	48
			
	9.	 	ANCILLARY FACILITIES	  	53
			
	10.	 	REPAYMENT	  	58
			
	11.	 	ILLEGALITY, VOLUNTARY PREPAYMENT AND CANCELLATION	  	58
			
	12.	 	MANDATORY PREPAYMENT	  	60
			
	13.	 	RESTRICTIONS	  	66
			
	14.	 	INTEREST	  	68
			
	15.	 	INTEREST PERIODS	  	70
			
	16.	 	CHANGES TO THE CALCULATION OF INTEREST	  	71
			
	17.	 	FEES	  	72
			
	18.	 	TAX GROSS UP AND INDEMNITIES	  	73
			
	19.	 	INCREASED COSTS	  	77
			
	20.	 	OTHER INDEMNITIES	  	78
			
	21.	 	MITIGATION BY THE FINANCE PARTIES	  	79
			
	22.	 	COSTS AND EXPENSES	  	80
			
	23.	 	GUARANTEE AND INDEMNITY	  	81
			
	24.	 	REPRESENTATIONS	  	87
			
	25.	 	INFORMATION UNDERTAKINGS	  	94
			
	26.	 	FINANCIAL COVENANTS	  	100
			
	27.	 	GENERAL UNDERTAKINGS	  	107
			
	28.	 	EVENTS OF DEFAULT	  	127
			
	29.	 	CHANGES TO THE LENDERS	  	133
			
	30.	 	CHANGES TO THE OBLIGORS	  	138
			
	31.	 	ROLE OF THE PRIORITY AGENT, THE SECOND LIEN AGENT, THE MANDATED LEAD ARRANGER, THE ISSUING BANK AND OTHERS	  	142
			
	32.	 	CONDUCT OF BUSINESS BY THE FINANCE PARTIES	  	148
			
	33.	 	SHARING AMONG THE FINANCE PARTIES	  	148

  

 1 

 TABLE OF CONTENTS 
  

					
	Clause	 	 	  	Page
	34.	 	PAYMENT MECHANICS	  	151
			
	35.	 	SET-OFF	  	153
			
	36.	 	NOTICES	  	153
			
	37.	 	CALCULATIONS AND CERTIFICATES	  	156
			
	38.	 	PARTIAL INVALIDITY	  	156
			
	39.	 	REMEDIES AND WAIVERS	  	157
			
	40.	 	AMENDMENTS AND WAIVERS	  	157
			
	41.	 	COUNTERPARTS	  	159
			
	42.	 	GOVERNING LAW	  	160
			
	43.	 	ENFORCEMENT	  	160

							
			
	SCHEDULE 1	    	THE ORIGINAL PARTIES	  	162
		
	 Part 1 - The Original Obligors
	  	162
			
	SCHEDULE 2	    	CONDITIONS PRECEDENT	  	164
		
	 Part I - Conditions precedent to initial Utilisation
	  	164
		
	 Part II - Conditions precedent required to be delivered by an Additional Obligor
	  	168
		
	 Part III - Transaction Security Documents and security related documents to be delivered by Obligors
	  	170
			
	SCHEDULE 3	    	REQUESTS	  	173
		
	 Part I - Utilisation Request
	  	173
		
	 Part IIA - LC Request (Standby Letter of Credit)
	  	174
		
	 Part IIB - LC Request (Commercial Letter of Credit)
	  	176
		
	 Part III - Selection Note
	  	178
			
	SCHEDULE 4	    	MANDATORY COST FORMULA	  	179
			
	SCHEDULE 5	    	FORM OF TRANSFER CERTIFICATE	  	181
			
	SCHEDULE 6	    	FORM OF ACCESSION LETTER	  	183
			
	SCHEDULE 7	    	FORM OF RESIGNATION LETTER	  	184
			
	SCHEDULE 8	    	FORM OF COMPLIANCE CERTIFICATE	  	185
			
	SCHEDULE 9	    	TIMETABLES	  	186
			
	SCHEDULE 10	    	FORM OF TAX CONFIRMATION	  	188
			
	SCHEDULE 11	    	SECURITY PRINCIPLES	  	189
			
	SCHEDULE 12	    	[INTENTIONALLY LEFT BLANK]	  	193
			
	SCHEDULE 13	    	STEPS 5 TO 8	  	194
			
	SCHEDULE 14	    	STEP 9	  	195
			
	SCHEDULE 15	    	STEPS 10 TO 14	  	208

  

 2 

 TABLE OF CONTENTS 
  

					
	Clause	 	 	  	Page
	SIGNATURES	  	

  

 3 

 THIS AGREEMENT is dated 8 December 2006 as amended on 1 April 2007, 11 June 2007,
16 November 2007 and 15 April 2008 and made between: 
  

	(1)	BST U.S. HOLDINGS, LLC, a company duly incorporated and validly existing under the laws of the State of Delaware whose registered address is at 2711 Centerville Road, Suite
400, City of Wilmington, County of New Castle, Delaware 19808, the United States of America (the “Parent”); 

  

	(2)	BST SAFETY TEXTILES ACQUISITION GMBH, a limited liability company duly incorporated and validly existing under the laws of the Federal Republic of Germany having its
corporate seat in Freiburg i.Br. and which is registered in the Commercial Register in Frankfurt am Main under registration number HRB 702044 (the “Original Borrower”); 

  

	(3)	THE COMPANIES listed in Part I of Schedule 1 (The Original Parties) as revolving borrowers (the “Revolving Borrowers”); 

  

	(4)	THE COMPANIES listed in Part I of Schedule 1 (The Original Parties) as original guarantors (the “Original Guarantors”); 

  

	(5)	GOLDMAN SACHS CREDIT PARTNERS L.P. and UBS SECURITIES LLC as mandated lead arrangers (the “Mandated Lead Arrangers”); 

  

	(6)	THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (The Original Parties) as lenders (the “Original Lenders”); 

  

	(7)	UBS AG, STAMFORD BRANCH as Issuing Bank; 

  

	(8)	GOLDMAN SACHS CREDIT PARTNERS L.P. as agent of the other Priority Finance Parties (the “Priority Agent”); 

  

	(9)	UBS AG, STAMFORD BRANCH as agent of the other Second Lien Finance Parties (the “Second Lien Agent” and together with the Priority Agent the
“Agents”); and 

  

	(10)	GOLDMAN SACHS CREDIT PARTNERS L.P. as security agent for the Secured Parties (the “Security Agent”). 

 IT IS AGREED as follows: 
  

 4 

 SECTION 1 
 INTERPRETATION 
 DEFINITIONS AND INTERPRETATION 
 Definitions 
 In this Agreement: 
 “Acceptable Bank” means: 
 a bank or financial institution which has a rating for its long-term unsecured and non
credit-enhanced debt obligations of A-1 or higher by Standard & Poor’s Rating Services or Fitch Ratings Ltd or P-1 or higher by Moody’s Investor Services Limited or a comparable rating from an internationally recognised credit
rating agency; or 
 any other bank or financial institution approved by the Agents. 
 “Accession Letter” means a document substantially in the form set out in Schedule 6 (Form of Accession Letter). 
 “Accountants’ Report” means the report prepared by KPMG dated 12 September 2006 relating to the Target and its Subsidiaries and addressed to,
and/or capable of being relied upon by, the Secured Parties. 
 “Accounting Principles” means generally accepted accounting principles in
Germany or the U.S. from time to time. 
 “Accounting Reference Date” means 31 December. 
 “Acquisition” means the acquisition by the Original Borrower of the Target Shares in accordance with the terms of the Acquisition Documents. 

“Acquisition Costs” means all fees, costs and expenses (including any prepayment penalties or premia and any stamp, registration and other Taxes)
incurred (or required to be paid) by the Original Borrower or any member of the BST Group in connection with the Acquisition or the Transaction Documents up to a maximum amount of €5,000,000. 
 “Acquisition Documents” means the Sale and Purchase Agreement, all other documents and agreements executed or to be executed pursuant to (or in
connection with) the Sale and Purchase Agreement and any other document designated as an “Acquisition Document” by the Agent and the Parent. 
 “Additional Borrower” means a company which becomes a Borrower in accordance with Clause 30 (Changes to the Obligors). 
 “Additional Cost Rate” has the meaning given to it in Schedule 4 (Mandatory Cost formula). 
 “Additional
Guarantor” means a company which becomes a Guarantor in accordance with Clause 30 (Changes to the Obligors). 
 “Additional
Obligor” means an Additional Borrower or an Additional Guarantor. 
  

 5 

 “Affiliate” means, in relation to any person, a Subsidiary of that person or a Holding Company of that
person or any other Subsidiary of that Holding Company. 
 “Amendment Agreement” means the amendment and restatement agreement dated 15
April 2008 which amended and restated this Agreement on the Effective Date. 
 “Ancillary Commencement Date” means, in relation to an
Ancillary Facility, the date on which that Ancillary Facility is first made available, which date shall be a Business Day within the Availability Period for the Revolving Facility. 
 “Ancillary Commitment” means, in relation to an Ancillary Lender and an Ancillary Facility, the maximum Base Currency Amount which that Ancillary Lender has agreed (whether or not subject to
satisfaction of conditions precedent and whether or not utilised) to make available from time to time under an Ancillary Facility and which has been authorised as such under Clause 9 (Ancillary Facilities), to the extent that amount is not
cancelled or reduced under this Agreement or the Ancillary Documents relating to that Ancillary Facility. 
 “Ancillary Document” means each
document relating to or evidencing the terms of an Ancillary Facility. 
 “Ancillary Facility” means any ancillary facility made available by
an Ancillary Lender in accordance with Clause 9 (Ancillary Facilities). 
 “Ancillary Lender” means each Lender which makes available
an Ancillary Facility in accordance with Clause 9 (Ancillary Facilities) (until all amounts outstanding under such Ancillary Facility have been discharged and it no longer makes any Ancillary Facilities available). 
 “Ancillary Outstandings” means, at any time, in relation to an Ancillary Lender and an Ancillary Facility, the aggregate of the equivalents (as
calculated by that Ancillary Lender) in the Base Currency of the following amounts outstanding under that Ancillary Facility then in force: 
 the principal amount under each overdraft facility and on-demand short term loan facility (net of any credit balances on any account of any Borrower of an Ancillary Facility with the Ancillary Lender making available that Ancillary Facility
to the extent that such credit balance is freely available to be set off by that Ancillary Lender against liabilities owed to it by that Borrower under that Ancillary Facility); 
 the face amount of each guarantee, bond and letter of credit under that Ancillary Facility; and 
 the amount fairly representing the aggregate exposure (excluding interest and similar charges) of that Ancillary Lender under each other type of
accommodation provided under that Ancillary Facility, 
 in each case as determined by such Ancillary Lender in accordance with the relevant
Ancillary Document, acting reasonably in accordance with its normal banking practice. 
 “ASCI” means Automotive Safety Components
International, Inc. 
 “ASCI Guarantors” means: 
 ASCI; 
 ASCI Holdings Europe, Inc.; 
  

 6 

 ASCI Holdings Asia Pacific (DE), LLC; 
 ASCI Holdings Mexico (DE), Inc.; 
 Automotive
Safety Components International S.A. de C.V.; 
 Automotive Safety Components International s.r.o.; 
 Automotive Safety Components International Romania S.R.L; and 
 ITG Automotive Safety UK Ltd. 
 “ASCI Reorganisation Costs” means all costs, expenses and
charges incurred by the Parent or any other member of the BST Group in connection with the Permitted Reorganisation Transaction (other than Restructuring Costs) up to a maximum amount of $5,170,000 during the residual term of this Agreement.

 “Auditors” means one of PricewaterhouseCoopers, Ernst & Young, KPMG or Deloitte & Touche or such other firm approved in
advance by the Majority Lenders (such approval not to be unreasonably withheld or delayed). 
 “Authorisation” means an authorisation,
consent, approval, resolution, licence, exemption, filing, notarisation or registration. 
 “Availability Period” means in relation to the
Revolving Facility, the period from and including the date following the Closing Date to and including the earlier of (i) the date falling one Month prior to the Termination Date in respect of the Revolving Facility and (ii) the date of
repayment, prepayment or cancellation in full of the Term Facilities. 
 “Available Ancillary Commitment” means, in relation to an Ancillary
Facility, an Ancillary Lender’s Ancillary Commitment less the Ancillary Outstandings in relation to that Ancillary Facility. 
 “Available
Commitment” means, in relation to a Facility, a Lender’s Commitment under that Facility minus (subject as set out below): 
 the
Base Currency Amount of its participation in any outstanding Utilisation under that Facility and, in the case of the Revolving Facility only, the Base Currency Amount of the aggregate of its Ancillary Commitments; and 
 in relation to any proposed Utilisation, the Base Currency Amount of its participation in any other Utilisation that are due to be made under that
Facility on or before the proposed Utilisation Date and, in the case of the Revolving Facility only, the Base Currency Amount of its Ancillary Commitment in relation to any new Ancillary Facility that is due to be made available on or before the
proposed Utilisation Date. 
 For the purposes of calculating a Lender’s Available Commitment in relation to any proposed Utilisation under the
Revolving Facility only, the following amounts shall not be deducted from a Lender’s Commitment under that Facility: 
  

	 	(i)	that Lender’s participation in any Revolving Facility Utilisations that are due to be repaid or prepaid on or before the proposed Utilisation Date; and

  

	 	(ii)	that Lender’s Ancillary Commitments to the extent that they are due to be reduced or cancelled on or before the proposed Utilisation Date. 

  

 7 

 “Available Facility” means, in relation to a Facility, the aggregate for the time being of each
Lender’s Available Commitment in respect of that Facility. 
 “Base Currency” means euros. 
 “Base Currency Amount” means: 
 in relation
to a Utilisation, the amount specified in the Utilisation Request delivered by a Borrower for that Utilisation (or, if in respect of a Revolving Facility Loan the amount requested is not denominated in the Base Currency, that amount converted into
the Base Currency at the Priority Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the date the relevant Agent receives the Utilisation Request in accordance with the terms of
this Agreement or, if in respect of a Second Lien Facility Loan the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Second Lien Agent’s Spot Rate of Exchange on the date which is one
Business Day before the Utilisation Date or such later date as agreed between the Second Lien Agent and the Original Borrower) and, in the case of a Letter of Credit, as adjusted under Clause 7.6 (Revaluation of Letters of Credit) at
six-monthly intervals; 
 in relation to an Ancillary Commitment, the amount specified as such in the notice delivered to the Agent by the
Parent pursuant to Clause 9.2 (Availability) (or, if the amount specified is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business
Days before the Ancillary Commencement Date for that Ancillary Facility or, if later, the date the Agent receives the notice of the Ancillary Commitment in accordance with the terms of this Agreement), 
 as adjusted to reflect any repayment, prepayment or consolidation of a Loan, or (as the case may be) cancellation or reduction of an Ancillary Facility. 
 “Borrower” means the Original Borrower, the Revolving Borrowers or an Additional Borrower, in each case unless it has ceased to be a Borrower in
accordance with Clause 30 (Changes to the Obligors). 
 “Break Costs” means the amount (if any) by which: 
 the interest (excluding the Margin) which a Lender should have received for the period from the date of receipt of all or any part of its participation in
a Loan or Unpaid Sum to the last day of the current Interest Period in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period; 
 exceeds: 
 the amount which that Lender would be able to
obtain by placing an amount equal to the principal amount or Unpaid Sum received by it on deposit with a leading bank in the Relevant Interbank Market for a period starting on the Business Day following receipt or recovery and ending on the last day
of the current Interest Period. 
 “BST Group” means the Parent and each of its Subsidiaries from time to time (including with effect on and
from the Closing Date but not before, the Target and its Subsidiaries). 
 “BST Note” means the promissory note in the amount of US$
70,000,000 issued the Parent to ITG as part of Step 9. 
  

 8 

 “BST S.a.r.l.” means BST Safety Textiles Luxembourg S.a.r.l., a company incorporated in Luxembourg
having its seat in 7 A rue Robert Stuemper, L-2557. 
 “BST Textiles” means BST Safety Textiles GmbH, a limited liability company duly
incorporated and validly existing under the laws of the Federal Republic of Germany and which is registered in the Commercial Register in Waldshut-Tiengen under registration number HRB 522. 
 “BST Textiles Intercompany Loan” means the EUR 40,000,000 note issued by the Original Borrower in favour of BST Textiles. 
 “Budget” means: 
 in relation to the period
beginning on 1 September 2006 and ending 31 December 2010, the Business Plan; and 
 in relation to any other period, any budget
delivered by the Parent to the Agent in respect of that period pursuant to Clause 25.4 (Budget). 
 “Business Day” means a day (other
than a Saturday or Sunday) on which banks are open for general business in New York, London and Frankfurt am Main and which is also a TARGET Day. 
 “Business Plan” means the financial model including profit and loss, balance sheet and cashflow projections in agreed form relating to the BST Group (for these purposes assuming Completion has occurred) each prepared by the
Parent and delivered to the Agents under Clause 4.1 (Initial conditions precedent). 
 “Capital Expenditure” has the meaning given to
that term in Clause 26.1 (Financial definitions). 
 “Cash Cover” has the meaning given to that term in Clause 26.1 (Financial
definitions). 
 “Cash Equivalent Investments” means at any time: 
 certificates of deposit maturing within one year after the relevant date of calculation and issued by an Acceptable Bank; 
 any investment in marketable debt obligations issued or guaranteed by the government of the United States of America, the United Kingdom, any member state
of the European Economic Area or any Participating Member State or by an instrumentality or agency of any of them having an equivalent credit rating, maturing within one year after the relevant date of calculation and not convertible or exchangeable
to any other security; 
 commercial paper not convertible or exchangeable to any other security: 
  

	 	(i)	for which a recognised trading market exists; 

  

	 	(ii)	issued by an issuer incorporated in the United States of America, the United Kingdom, any member state of the European Economic Area or any Participating Member State;

  

	 	(iii)	which matures within one year after the relevant date of calculation; and 

  

	 	(iv)	 which has a credit rating of either A-1 or higher by Standard & Poor’s Rating Services or Fitch Ratings Ltd or P-1 or higher by Moody’s Investor
Services Limited, or, if no rating is available in respect of the 

  

 9 

	 	 
commercial paper, the issuer of which has, in respect of its long-term unsecured and non-credit enhanced debt obligations, an equivalent rating;

 any investment accessible within 30 days in money market funds which have a credit rating of either A-1 or higher by
Standard & Poor’s Rating Services or Fitch Rating Ltd or P-1 or higher by Moody’s Investor Services Limited and which invest substantially all their assets in securities of the types described in sub-paragraphs (a) to
(c) above; or 
 any other debt security approved by the Majority Lenders, 
 in each case, to which any member of the BST Group is beneficially entitled at that time and which is not issued or guaranteed by any member of the BST Group or subject to any Security Interest (other than one arising
under the Transaction Security Documents). 
 “Cashflow” has the meaning given to that term in Clause 26.1 (Financial definitions).

 “CFC Interest” means any Stock held by ASCI or any U.S. Obligor that is a Subsidiary of ASCI in: 
 any Controlled Foreign Corporation; or 
 any
Flow Through Entity, 
 in each case to the extent such stock was is held by ASCI or such U.S. Obligor on or after the Realignment Completion Date, and only
to the extent that such Stock, when aggregated with all other Stock held by the relevant U.S. Obligor in such Controlled Foreign Corporation or Flow Through Entity would be deemed to result in more than 65% of the total combined voting power of all
classes of Stock in such Controlled Foreign Corporation or Flow Through Entity being pledged to the Security Agent in respect of obligations owed by any Secured Party to a Finance Party under the Finance Documents. However, “CFC Interest”
shall not include: 
 any Stock in any Existing Obligor; and 
 at any time, any person that is a successor (including by way of amalgamation, demerger, merger, consolidation, corporate reconstruction or any process similar to the foregoing) of any Existing Obligor or to whom any
of the Stock and/or assets of any Existing Obligor member are transferred. 
 “Charged Property” means all of the assets of the Obligors
which from time to time are, or are expressed to be, the subject of the Transaction Security. 
 “Clean-up Period” means the period of 90
days from and including the Closing Date. 
 “Closing Date” means the date on which Completion occurs. 
 “Commercial Letter of Credit” means any letter of credit or similar instrument issued for the purpose of providing credit support in connection with the
purchase of materials, goods or services by a Revolving Borrower in the ordinary course of its business. 
 “Commitment” means a First Lien
Commitment, a Second Lien Commitment or a Revolving Facility Commitment. 
 “Completion” means the completion of the Acquisition in
accordance with the terms of the Sale and Purchase Agreement. 
  

 10 

 “Compliance Certificate” means a certificate substantially in the form set out in Schedule 8 (Form of
Compliance Certificate). 
 “Confidentiality Undertaking” means a confidentiality undertaking substantially in a recommended form of the
LMA or in any other form agreed between the Parent and the Agents. 
 “Consolidated EBITDA” has the meaning given to that term in Clause
26.1 (Financial definitions). 
 “Consolidated Total Net Finance Charges” has the meaning given to that term in Clause 26.1
(Financial definitions). 
 “Constitutional Documents” means the memorandum and articles of association, certificate of incorporation
or other document pursuant to which the Parent or the Original Borrower is incorporated or organised. 
 “Control Agreement” means a
tri-party deposit account, securities account or commodities account control agreement by and among the applicable Obligor, the Security Agent and the depository, securities intermediary or commodities intermediary, and each in form and substance
reasonably satisfactory in all respects to the Security Agent and in any event providing to Security Agent “control” of such deposit account, securities or commodities account within the meaning of Articles 8 and 9 of the UCC (or an
equivalent document in foreign jurisdictions). 
 “Controlled Foreign Corporation” has the meaning given in section 957(a) of the U.S.
Internal Revenue Code of 1986, as amended. 
 “Current Assets” has the meaning given to that term in Clause 26.1 (Financial
definitions). 
 “Current Liabilities” has the meaning given to such term in Clause 26.1 (Financial definitions). 
 “Czech Guarantor” has the meaning given in Clause 23.12 (Guarantee Limitations applicable to Czech Guarantors). 
 “Dangerous Substance” means any radioactive emissions, noise and any natural or artificial substance (in whatever form) the generation, transportation,
storage, treatment, use or disposal of which (whether alone or in combination with any other substance) gives rise to a risk of causing harm to man or any other living organism or damaging the environment or public health or welfare, including
(without limitation) any controlled, special, hazardous, toxic, radioactive or dangerous waste. 
 “Debt Cover” has the meaning given to
that term in Clause 26.1 (Financial definitions). 
 “Debt Service” has the meaning given to that term in Clause 26.1 (Financial
definitions). 
 “Default” means an Event of Default or any event or circumstance specified in Clause 28 (Events of Default)
which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default. 
 “Delegate” means any delegate, agent, attorney or co-trustee appointed by the Security Agent. 
 “Designated Gross Amount” has the meaning given to that term in Clause 9.2 (Availability). 
 “Designated Net Amount” has the meaning given to that term in Clause 9.2 (Availability). 
  

 11 

 “Deutsche Bank Facility Agreement” means the facility agreement dated 30 June 2005 between, amongst
others, Berger Breitgewebe GmbH & Co. KG, Deutsche Bank AG and Deutsche Bank Luxembourg S.A. 
 “Disruption Event” means a material
disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with the Facilities (or otherwise in order for the transactions
contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the control of, any of the Parties; or the occurrence of any other event which results in a disruption (of a technical or systems related
nature) to the treasury or payments operations of a Party preventing that, or any other Party: 
 from performing its payment obligations
under the Finance Documents; or 
 from communicating with other Parties in accordance with the terms of the Finance Documents, 
 and which (in either such case) is not caused by, and is beyond the control of, the Party whose operations are disrupted. 
 “Dormant Subsidiary” means a member of the BST Group which does not trade (for itself or as agent for any person) and which does not own, legally or
beneficially, assets (including indebtedness owed to it) which in aggregate have a value of EUR 250,000 or more (or its equivalent). 
 “EBITDA” means, in respect of any person, its earnings before interest, tax, depreciation and amortisation (calculated on the same basis as Consolidated EBITDA). 
 “Effective Date” has the meaning given in the Amendment Agreement. 
 “EMU” means European and Monetary Union as contemplated in the Treaty on European Union. 
 “EMU Legislation”
means legislative measures of the European Union for the introduction of, changeover to or operation of the euro in one or more member states, being in part legislative measures to implement EMU. 
 “Environmental Claim” means any claim, proceeding, formal notice or investigation by any person in respect of any Environmental Law. 
 “Environmental Law” means any applicable law or regulation which relates to: 
 the pollution or protection of the environment; 
 harm to or the protection of human health; 
 the conditions of the workplace; or 
 any emission or substance capable of causing harm to any living organism or the environment. 
 “Environmental Permits” means any permit and other Authorisation and the filing of any notification, report or assessment required under any
Environmental Law for the operation of the business of any member of the BST Group conducted on or from the properties owned or used by any member of the BST Group. 
 “Environmental Report” means the environmental report prepared by Environ Germany GmbH and dated 22 August 2006. 
  

 12 

 “Escrow Letter” means the letter dated on or about the date of this Agreement from the Original Borrower
and the Parent addressed to the Agents and the Security Agent regarding the application of funds deposited with Commerzbank to discharge the Post-Closing Leases following the Closing Date. 
 “EURIBOR” means the higher of: 
  

	(a)	4.34 per cent. per annum; and 

  

	(b)	in relation to any Loan in euro: 

  

	 	(i)	the applicable Screen Rate; or 

  

	 	(ii)	if no Screen Rate is available for the Interest Period of that Loan, the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at its
request quoted by the Reference Banks to leading banks in the European interbank market, 

 as of the Specified Time on the
Quotation Day for the offering of deposits in euro for a period comparable to the Interest Period of the relevant Loan. 
 “Event of
Default” means any event or circumstance specified as such in Clause 28 (Events of Default). 
 “Excess Cashflow” has the
meaning given to that term in Clause 26.1 (Financial definitions). 
 “Excluded Equity Issuance” means: 
 The private issuance of any Stock or Stock Equivalents by ITG or any Holding Company thereof (if such a Holding Company exists) or by any Holding Company
of any member of the BST Group to management or employees of a member of the Permitted Affiliated Group, that is a party to the ITG Facilities Agreement, under any employee stock option or stock purchase plan or other employee benefits plan in
existence from time to time; and 
 The private issuance of any Stock or Stock Equivalents by ITG or any Holding Company thereof (if such a
Holding Company exists) or by any Holding Company of any member of the BST Group the net proceeds of which are utilised within 90 days of receipt for the purposes of capital expenditure, an acquisition or investments in a company or a joint venture
as permitted under the terms of the ITG Facilities Agreement. 
 “Existing Obligor” means each Obligor immediately before the date of the
Amendment Agreement. 
 “Existing Shareholder Loan” means the shareholder loan dated 1 July 2005 between PPMC PSPS Nominees Ltd., PPMC
BOS Nominees Ltd., PPMC Third Nominees Ltd., Georg Saint-Denis, Hans-Herbert Graefe and Frank Göhring, as lenders and BST Textiles as borrower. 
 “Facility” means the First Lien Facility, the Second Lien Facility or the Revolving Facility. 
 “Facility Office”
means: 
 in respect of a Lender or the Issuing Bank, the office or offices notified by that Lender or the Issuing Bank to the Agent in
writing on or before the date it becomes a Lender or the Issuing Bank (or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement; or

  

 13 

 in respect of any other Finance Party, the office in the jurisdiction in which it is resident for tax
purposes. 
 “Finance Document” means this Agreement, any Accession Letter, any Ancillary Document, any Compliance Certificate, any
certificate given by the Parent pursuant to Schedule 14 (Step 9), the Parent Fee Letter, any Hedging Agreement, the Hedging Letter, the Intercreditor Deed, any Creditor Accession Deed (as defined in the Intercreditor Deed), any Obligor Accession
Deed (as defined in the Intercreditor Deed), the Escrow Letter, any Resignation Letter, any Selection Notice, any Transaction Security Document, any Utilisation Request, each Subordination Agreement, each Waiver Letter, the Amendment Agreement, and
any other document designated as a “Finance Document” by the relevant Agent and the Parent. 
 “Finance Lease” and
“Finance Lease Expenditure” have the meaning given to those terms in Clause 26.1 (Financial definitions). 
 “Finance
Party” means a Priority Finance Party and a Second Lien Finance Party and “Finance Parties” means all of them together. 
 “Financial Indebtedness” means, without double counting, any indebtedness for or in respect of: 
 monies borrowed
or raised (including overdrafts); 
 any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent;

 any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument;

 the amount of any liability in respect of any Finance Lease; 
 receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 
 for the purpose of Clause 28.5 (Cross Default) only, any Treasury Transaction (and, when calculating the value of that Treasury Transaction, only the marked to market value as at the relevant date on which Financial Indebtedness is
calculated (or, if any actual amount is due as a result of the termination or close-out of that Treasury Transaction, that amount) shall be taken into account); 
 any counter-indemnity obligation in respect of a guarantee, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution where the underlying liability is one of the
items in paragraphs (a) to (f) or (h) to (j) of this definition; 
 any amount raised by the issue of redeemable shares if
the shares are redeemable before the Termination Date; 
 any amount of any liability under an advance or deferred purchase agreement if
(a) one of the primary reasons behind entering into the agreement is to raise finance or (b) the agreement is in respect of the supply of assets or services and payment is due more than 180 days after the date of supply; 
  

 14 

 any amount raised under any other transaction (including any forward sale or purchase agreement) having
the commercial effect of a borrowing; and 
 the amount of any liability in respect of any guarantee for any of the items referred to in
paragraphs (a) to (j) above. 
 “Financial Quarter” has the meaning given to that term in Clause 26.1 (Financial
definitions). 
 “Financial Year” has the meaning given to that term in Clause 26.1 (Financial definitions). 
 “First Lien Facility” means the term loan facility made available under this Agreement as described in paragraph (a)(i) of Clause 2.1 (The
Facilities). 
 “First Lien Facility Commitment” means: 
 in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading “First Lien Facility Commitment” in Part II of Schedule 1 (The Original Parties) and the
amount of any other First Lien Facility Commitment transferred to it under this Agreement; and 
 in relation to any other Lender, the amount
in the Base Currency of any First Lien Facility Commitment transferred to it under this Agreement, 
 to the extent not cancelled, reduced or transferred by
it under this Agreement. 
 “First Lien Facility Loan” means a loan made or to be made under the First Lien Facility or the principal amount
outstanding for the time being of that loan. 
 “Flow Through Entity” means any entity which is treated as a partnership or a disregarded
entity for United States Federal income tax purposes and substantially all of whose assets consist of CFC Interests. 
 “Funds Flow
Statement” means a funds flow statement in agreed form delivered to the Agents under Clause 4.1 (Initial conditions precedent). 
 “German Obligor” means an Obligor incorporated in the Federal Republic of Germany. 
 “Governmental Authority”
shall mean the government of the United States or any other nation, or of any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Group Structure Chart” means the group structure chart in the agreed form delivered to the Agents under Clause 4.1 (Initial conditions
precedent). 
 “Guarantor” means an Original Guarantor or an Additional Guarantor, in each case unless it has ceased to be a Guarantor
in accordance with Clause 30 (Changes to the Obligors). 
 “Hedge Counterparty” means a Lender (or an Affiliate of a Lender,
including any Person who is a Lender (and any Affiliate thereof) as of the Closing Date but subsequently, whether before or after entering into a Hedging Agreement, ceases to be a Lender) which has become a party to the Intercreditor Deed as a Hedge
Counterparty in accordance with the provisions of the Intercreditor Deed. 
  

 15 

 “Hedging Agreement” means any master agreement, confirmation, schedule or other agreement in agreed form
entered into or to be entered into by the Original Borrower and a Hedge Counterparty for the purpose of hedging interest rate liabilities in relation to the Term Facilities in accordance with the Hedging Letter delivered to the Agents under
Clause 4.1 (Initial conditions precedent). 
 “Holding Account” means an account: 
 held by a Borrower with a designated banking institution approved by the Agents; 
 identified in a letter between the Parent and the Agents delivered to the Agents under Clause 4.1 (Initial conditions precedent) as a Holding
Account; and 
 subject to Security in favour of the Security Agent which Security is in form and substance satisfactory to the Security
Agent, 
 as the same may be redesignated, substituted or replaced from time to time by agreement between the Parent and the Agents. 
 “Holding Company” means, in relation to a company or corporation, any other company or corporation in respect of which it is a Subsidiary. 

“Independent Director” means a director of a U.S. Member of the BST Group who is not at the time of initial appointment, or at any time while serving
as a director of the relevant member of the BST Group, and has not been at any time during the preceding five (5) years: (a) a stockholder, director (with the exception of serving as the Independent Director of the relevant member of the
BST Group), officer, employee, partner, attorney or counsel of any other member of the BST Group or any member of the ITG Group or any affiliate of any of them; (b) a creditor, customer, supplier or other person who derives any of its purchases
or revenues from its activities with the relevant member of the BST Group or any member of the ITG Group or any affiliate of any of them; (c) a person or other entity controlling or under common control with any such stockholder, partner,
creditor, customer, supplier or other person; or (d) a member of the immediate family of any such stockholder, director, officer, employee, partner, creditor, customer, supplier or other person. (As used herein, the term “control”
means the possession, directly or indirectly, of the power to direct or cause the direction of management, policies or activities of a person or entity, whether through ownership of voting securities, by contract or otherwise). 
 A natural person who satisfies the foregoing definition other than subparagraph (b) shall not be disqualified from serving as an Independent Director of a U.S.
Member of the BST Group if such individual is an independent director provided by a nationally-recognized company that provides professional independent directors and that also provides other corporate services in the ordinary course of its
business. 
 A natural person who otherwise satisfies the foregoing definition except for being the independent director of a “special purpose
entity” affiliated with a member of the BST Group or a member of the ITG Group shall not be disqualified from serving as an Independent Director of a U.S. Member of the BST Group if such individual (i) is an independent director provided
by a nationally-recognized company that provides professional independent directors and (ii) is not at the time of initial appointment or while serving the independent director of an entity (other than the relevant member of the BST Group) that
owns a direct or indirect equity interest in the Parent.” 
 “Information Memorandum” means the document in the form approved by the
Parent concerning the Original Obligors and the Target Group which, at the request of the Original Borrower and on its behalf was prepared in relation to this transaction and distributed by the Mandated Lead Arrangers before the date of this
Agreement. 
  

 16 

 “Information Package” means the Reports, the Business Plan and the Realignment Information Package.

 “Intellectual Property” means: 
 any patents, trade marks, service marks, designs, business names, copyrights, design rights, moral rights, inventions, confidential information, know-how and other intellectual property rights and interests, whether registered or
unregistered; and 
 the benefit of all applications and rights to use such assets of each member of the BST Group. 
 “Intercompany Loan Agreements” means: 
 the
BST Textiles Intercompany Loan; 
 the Narricot Intercompany Loan; 
 the note issued by BST Breitgewebe International GmbH to the Original Borrower as part of Step 4; and 
 the note issued by BST Safety Textiles GmbH to Automotive Safety Components International GmbH & Co. KG as part of Step 10. 
 “Intercreditor Deed” means the intercreditor deed dated the same date as this Agreement and made between, amongst others, each of the Parties (other
than the Mandated Lead Arrangers), the Hedge Counterparties and certain others. 
 “Interest Cover” has the meaning given to that term in
Clause 26.1 (Financial definitions). 
 “Interest Period” means, in relation to a Loan, each period determined in accordance with
Clause 15 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 14.3 (Default interest). 
 “Issuing Bank” means each Lender identified above as an issuing bank and any other Lender which has notified the Priority Agent that it has agreed to the Parent’s request to be an Issuing Bank pursuant to the terms of
this Agreement (and if more than one Lender has so agreed, such Lenders shall be referred to, whether acting individually or together, as the “Issuing Bank”) provided that, in respect of a Letter of Credit issued or to be
issued pursuant to the terms of this Agreement, the “Issuing Bank” shall be the Issuing Bank which has issued or agreed to issue that Letter of Credit. 
 “ITG” means International Textile Group, Inc. or any of its direct or indirect wholly-owned subsidiaries or such other purchaser approved by the Agents acting reasonably. 
 “ITG Facilities Agreement” means the facilities agreement dated 29 December 2006 by and among certain members of the ITG Group, General Electric
Capital Corporation and the other persons signatory thereto. 
 “ITG Group” means ITG and any Subsidiary thereof (other than a member of the
BST Group). 
 “ITG Note Purchase Agreement” means the senior subordinated note purchase agreement dated as of 6 June 2006 relating to
the ITG Notes. 
 “ITG Notes” means the proposed $80,000,000 18.00% senior subordinated notes due 6 June 2011 to be issued by ITG.

  

 17 

 “ITG Realignment Memorandum” means the structure paper dated 11 April 2008 entitled “ITG Legal
Entity Realignment” prepared by Ernst & Young in the agreed form. 
 “ITG Subordinated Loan” means the $20,000,000
subordinated promissory note dated 3 December 2007, issued by Narricot in favour of ITG and to be converted into Series A redeemable preference shares to be issued by the Parent as contemplated by Step 9. 
 “Joint Venture” means any joint venture entity, whether a company, unincorporated firm, undertaking, association, joint venture or partnership or any
other entity. 
 “LC Disbursement” means a payment or disbursement made by the Issuing Bank pursuant to a drawing under a Letter of Credit.

 “LC Exposure” means at any time the sum of (a) the Base Currency equivalent of the aggregate undrawn amount of all outstanding
Letters of Credit at such time plus (b) the Base Currency equivalent of the aggregate principal amount of all Reimbursement Obligations outstanding at such time. The LC Exposure of any Revolving Lender at any time shall mean its Pro Rata
Percentage of the aggregate LC Exposure at such time. 
 “LC Request” means a request by a Revolving Borrower in accordance with the terms
of Clause 7.3 (Request for issuance, amendment, renewal; Certain Conditions and Notices) and substantially in the form of Schedule 3 (Request), Part IIA or Part IIB, as applicable, or such other form as shall be approved by the Issuing
Bank. 
 “Legal Due Diligence Report” means the legal due diligence report dated 25 July 2006 prepared by Jones Day relating to the
Acquisition and addressed to, and/or capable of being relied upon by, the Secured Parties. 
 “Legal Reservations” means: 
 the principle that equitable remedies may be granted or refused at the discretion of a court and the limitation of enforcement by laws relating to
insolvency, reorganisation and other laws generally affecting the rights of creditors; 
 the time barring of claims under the Limitation
Acts, the possibility that an undertaking to assume liability for or indemnify a person against non-payment of UK stamp duty may be void and defences of set-off or counterclaim; 
 similar principles, rights and defences under the laws of any Relevant Jurisdiction to those described in paragraphs (a) and (b) above; and

 any other matters which are set out as qualifications or reservations as to matters of law of general application in the legal opinions
delivered or to be delivered to the Agents pursuant to Clause 4.1 (Initial conditions precedent) or Clause 30 (Changes to the Obligors). 
 “Lender” means: 
 any Original Lender; and 
 any bank, financial institution, trust, fund or other entity which has become a Party in accordance with Clause 29 (Changes to the Lenders),

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement. 
  

 18 

 “Letter of Credit” means (i) any Standby Letter of Credit and (ii) any Commercial Letter of
Credit in the form provided by the Issuing Bank, issued or to be issued by the Issuing Bank for the account of a Revolving Borrower pursuant to Clause 7 (Utilisation of Letters of Credit). 
 “Letter of Credit Expiration Date” means the date which is 15 days prior to the Termination Date. 
 “LIBOR” means the higher of: 
  

	(a)	2.53 per cent. per annum; or 

  

	(b)	in relation to any Loan in any optional currency: 

  

	 	(i)	the applicable Screen Rate; or 

  

	 	(ii)	(if no Screen Rate is available for the currency or Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the
Facility Agent at its request quoted by the Reference Banks to leading banks in the London interbank market, 

 as of the
Specified Time on the Quotation Day for the offering of deposits in the currency of that Loan and for a period comparable to the Interest Period for that Loan. 
 “LMA” means the Loan Market Association. 
 “Loan” means a First Lien Facility Loan, a Second Lien Facility Loan
or a Revolving Facility Loan. 
 “Majority Lenders” means a Lender or Lenders whose
Commitments aggregate more than 66 2/3 per cent. of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 66 2/3 per cent. of the Total Commitments immediately prior to that reduction). 
 “Majority Priority Lenders” means a Lender or Lenders whose Priority Commitments aggregate more than 66 2/3 per cent. of the Total Priority Commitments (or, if the Total Priority Commitments have been reduced to zero, aggregated more than 66 2/3 per cent. of the Total Priority Commitments immediately prior to that reduction). 
 “Majority Second Lien Lenders” means a Lender or Lenders whose Second Lien Facility Commitments
aggregate more than 66 2/3 per cent. of the Total Second Lien Facility Commitments (or, if the Total Second Lien Commitments
have been reduced to zero, aggregated more than 66 2/3 per cent. of the Total Second Lien Facility Commitments immediately
prior to that reduction). 
 “Management Agreement” means the management agreement entered into between the Parent and the
Original Investors dated on or about the date hereof. 
 “Mandatory Cost” means the percentage rate per annum calculated by the Agent in
accordance with Schedule 4 (Mandatory Cost formula). 
 “Mandatory Prepayment Account” means an interest-bearing account: 

held by a Borrower with a designated banking institution approved by the Agents; 
 identified in a letter between the Original Borrower and the Agents delivered to the Agents under Clause 4.1 (Initial conditions precedent) as a
Mandatory Prepayment Account; 
  

 19 

 subject to Security in favour of the Security Agent which Security is in form and substance satisfactory
to the Agents and Security Agent; and 
 from which no withdrawals may be made by any members of the BST Group except as contemplated by this
Agreement, 
 as the same may be redesignated, substituted or replaced from time to time by agreement between the Parent and the Agents. 
  

 20 

 “Margin” means: 
 in relation to any First Lien Facility Loan or any Revolving Facility Loan, 5.5 per cent. per annum; and 
 in relation to any Second Lien Facility Loan 9.0 per cent. per annum, 
 each as adjusted in accordance with Clause 14.1(b) to
(f) (Calculation of interest) and “PIK Margin” means 5.0 per cent. per annum. 
 “Material Adverse Effect”
means any event which in the opinion of the Majority Lenders is reasonably likely to: 
 result in the BST Group taken as a whole being unable
to perform its payment or other material obligations under any of the Finance Documents; 
 have a material adverse effect on the business,
assets or condition (whether financial or otherwise) of the BST Group taken as a whole; or 
 subject to the Legal Reservations and completion
of the perfection requirements of the Transaction Security result in the invalidity or unenforceability of the Transaction Documents or have a material adverse effect on the effectiveness or ranking of any Security granted or purporting to be
granted pursuant to any of the Finance Documents. 
 “Material Company” means each ASCI Guarantor and each member of the BST Group
(excluding any Dormant Subsidiaries and following implementation of step 9 of the Structure Memorandum, BST Breitgewebe Verwaltungs GmbH). 
 “Mexican Facility” means the certain term loan agreement in the maximum principal amount of $15,000,000 dated as of December 29, 2006, by and among Burlington Morelos, S.A. de C.V., as borrower, the financial
institutions party thereto from time to time, as lenders, General Electric Capital Corporation, as agent, UBS Securities LLC, as lead arranger and bookrunner, and GE Capital Markets, Inc., as co-lead arranger and co-bookrunner. 
 “Month” means a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that:

 (subject to paragraph (c) below) if the numerically corresponding day is not a Business Day, that period shall end on the next
Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day; 
 if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month; and 
 if an Interest Period begins on the last Business Day of a calendar month, that Interest Period shall end on the last Business Day in the calendar month
in which that Interest Period is to end. 
 The above rules will only apply to the last Month of any period. “Monthly” shall be construed
accordingly. 
 “Narricot” means Narricot Industries L.P. 
  

 21 

 “Narricot Intercompany Loan” means the EUR 40,000,000 note issued by Narricot in favour of the Parent.

 “NewCo Narricot” means NewCo Narricot LLC following the contribution to it of the narrows business as more particularly described in the
ITG Realignment Memorandum. 
 “Non-U.S. Borrower” means any Borrower that is not a U.S. Borrower. 
 “Non-U.S. Guarantor” means any Guarantor that is not a U.S. Guarantor. 
 “Obligor” means a Borrower or a Guarantor. 
 “Obligors’ Agent” means the Parent,
appointed to act on behalf of each Obligor in relation to the Finance Documents pursuant to Clause 2.3 (Obligors’ Agent). 
 “Optional
Currency” means U.S. dollars. 
 “Original Financial Statements” means: 
 in relation to Parent, its opening balance sheet; 
 in relation to the Original Borrower, its opening balance sheet; 
 in relation to the Target, its consolidated unaudited financial
statements for its management accounting period ended 31 October 2006; 
 in relation to any other Obligor, its audited financial
statements delivered to the Agent as required by Clause 30 (Changes to the Obligors). 
 “Original Investors” means WLR Recovery Fund
III L.P., Frank Göhring, Georg Saint-Denis, International Textile Group, Inc.; International Textile Holdings, Inc.; WLR Recovery Fund III, LP; WLR Recovery Fund II, LP; Absolute Recovery Hedge Fund Ltd.; and Absolute Recovery Hedge Fund
L.P.” 
 “Original Obligor” means the Original Borrower, the Revolving Borrowers or an Original Guarantor. 
 “Parent Fee Letter” means the fee letter dated 8 November 2006 and entered into between the Parent, the Mandated Lead Arrangers and the Second Lien
Agent. 
 “Participating Member State” means any member state of the European Communities that adopts or has adopted the euro as its lawful
currency in accordance with legislation of the European Community relating to Economic and Monetary Union. 
 “Party” means a party to this
Agreement. 
 “Permitted Acquisition” means: 
 the Acquisition; 
 the acquisition on substantially fair market terms by a member of the BST Group of any
Real Property which is owned by Rosata GmbH & Co. KG or Rosaria GmbH & Co. KG as at the date of this Agreement; 
  

 22 

 an acquisition by a member of the BST Group of an asset sold, leased, transferred or otherwise disposed
of by another member of the BST Group in circumstances constituting a Permitted Disposal; 
 an acquisition of securities which are Cash
Equivalent Investments so long as those Cash Equivalent Investments become subject to the Transaction Security as soon as is reasonably practicable; 
 an acquisition by an Obligor of shares or equivalent ownership interests of another Obligor (other than the Parent); 
 an
acquisition made with the consent of the Majority Lenders; 
 an acquisition (not being an acquisition by the Parent or the Original
Borrower), of (A) all of the issued share capital of a limited liability company or (B) (if the acquisition is made by a limited liability company whose sole purpose is to make the acquisition) a business or undertaking carried on as a
going concern, but only if: 
  

	 	(i)	the Parent has given the Agents no less than 10 Business Days’ notice of such acquisition; 

  

	 	(ii)	no Default is continuing on the closing date for the acquisition or would occur as a result of the acquisition; 

  

	 	(iii)	the acquired company, business or undertaking is incorporated or established, and carries on its principal business, in the European Union, the United States of America, Turkey,
China, Korea or Japan and is engaged in a business substantially the same as that carried on by the BST Group; 

  

	 	(iv)	such acquisition does not result in any member of the BST Group incurring any Financial Indebtedness that is not permitted under the terms of this Agreement;

  

	 	(v)	the Parent is in compliance with the Financial covenants set forth in Clause 26.2 (Financial Condition) on a pro forma basis after giving effect to such acquisition as of the
last day of the Relevant Period most recently ended and the Parent shall have delivered to the Agents at least 10 Business Days prior to the proposed acquisition a certificate evidencing compliance with Clause 26.2 as required by this paragraph (v);
and 

  

	 	(vi)	 the cash consideration (including associated costs and expenses) for the acquisition and any Financial Indebtedness or other assumed actual or contingent liability,
in each case remaining in the acquired company (or any such business) at the date of acquisition (when aggregated with the consideration (including associated costs and expenses) for any other Permitted Acquisition and any Financial Indebtedness or
other assumed actual or contingent liability, in each case remaining in any such acquired companies or businesses at the time of acquisition (the “Total Purchase Price”) does not since the date of this Agreement exceed in aggregate
EUR 20,000,000 (or its equivalent) or EUR 

  

 23 

	 	 
10,000,000 (or its equivalent) in any Financial Year of the Parent (the “Permitted Acquisition Spend”) provided that in the event
that the Permitted Acquisition Spend in any Financial Year has been spent and the conditions specified in sub-paragraphs (i) to (v) above can otherwise be satisfied, the Parent shall be permitted: (A) to fund an acquisition with
additional cash equity subscriptions in the Parent (“Additional Equity”) provided that the Additional Equity does not since the date of this Agreement exceed in aggregate EUR 25,000,000 (or its equivalent); or (B) to issue
shares in the Parent as consideration for such acquisition. 

 “Permitted Disposal” means any sale, lease, license,
transfer or other disposal which is on arm’s length terms: 
 of assets made by any member of the BST Group in the ordinary course of
trading of the disposing entity; 
 of any asset by a member of the BST Group (the “Disposing Company”) to another member of
the BST Group (the “Acquiring Company”), but if: 
  

	 	(i)	the Disposing Company is an Obligor, the Acquiring Company must also be an Obligor; 

  

	 	(ii)	the Disposing Company had given Security over the asset, the Acquiring Company must give equivalent Security over that asset; and 

  

	 	(iii)	the Disposing Company is a Guarantor, the Acquiring Company must be a Guarantor incorporated in the same jurisdiction as the Disposing Company guaranteeing at all times an amount no
less than that guaranteed by the Disposing Company; 

 of assets (other than shares, businesses, Real Property or Intellectual
Property) in exchange for other assets comparable or superior as to type, value or quality; 
 of obsolete, surplus or redundant vehicles,
plant, machinery, equipment or Real Property not required for the business of the BST Group for cash; 
 of Cash Equivalent Investments for
cash or in exchange for other Cash Equivalent Investments; 
 constituted by a licence of intellectual property rights permitted by Clause
27.27 (Intellectual Property); 
 arising as a result of any Permitted Security; 
 the disposal of the facility at Bad Säckingen; 
 of assets with the consent of the Majority Lenders; 
 of assets on a fair market value basis to a Joint Venture permitted pursuant
to Clause 27.9 (Joint Ventures); 
 forming part of a Permitted Transaction; or 
  

 24 

 of assets (other than shares) for cash where the higher of the book value and net consideration
receivable (when aggregated with the higher of the book value and net consideration receivable for any other sale, lease, licence, transfer or other disposal not allowed under the preceding paragraphs) does not exceed EUR 5,000,000 (or its
equivalent) in total during the term of this Agreement and does not exceed EUR 2,000,000 (or its equivalent) in any Financial Year of the Parent. 
 “Permitted Distribution” means: 
 the payment of a dividend to the Parent or any of its wholly-owned subsidiaries;

 repayment of any Intercompany Loan (subject to the terms of the Intercreditor Deed); 
 payments contemplated by the Structure Memorandum; 
 Permitted Payments; and 
 any other payment which the Majority Lenders agree shall constitute a Permitted Distribution. 

“Permitted Financial Indebtedness” means Financial Indebtedness: 
 arising under any of the Subscription Agreements, the ITG Subordinated Loan, and Intercompany Loan Agreements, and subject always to the terms of this Agreement and the Intercreditor Deed; 
 to the extent covered by a letter of credit, guarantee or indemnity issued under an Ancillary Facility; 
 arising under a foreign exchange transaction for spot or forward delivery entered into in connection with protection against fluctuation in currency rates
where that foreign exchange exposure arises in the ordinary course of trade, but not a foreign exchange transaction for investment or speculative purposes; 
 arising under a Permitted Loan or a Permitted Guarantee; 
 of any person acquired by a member of the BST
Group after the Closing Date which is incurred under arrangements in existence at the date of acquisition, but not incurred or increased or its maturity date extended in contemplation of, or since, that acquisition, and outstanding only for a period
of three Months following the date of acquisition; 
 under finance or capital leases of vehicles, plant, equipment or computers, provided
that the aggregate capital value of all such items so leased under outstanding leases by members of the BST Group does not exceed EUR 5,000,000 (or its equivalent) at any time; 
 any Financial Indebtedness incurred with the consent of the Majority Lenders; 
 any extensions, renewals, modifications and restatements or replacements of Financial Indebtedness permitted in paragraphs (a) to (g) above,
excluding fees and expenses incurred in relation thereto, provided that no such extension, renewal, modification, restatement or replacement may increase the principal amount of the original Financial Indebtedness outstanding; 
  

 25 

 any Financial Indebtedness owing by ASCI or any of its Subsidiaries to any member of the ITG Group
referred to in the schedule of the Realignment Information Package entitled “ITG I/C Balances with ASCI Companies” as at the Effective Date together with all accrued unpaid compound interest on such Financial Indebtedness after the
Effective Date which is in each case subordinated on terms satisfactory to the Majority Lenders; or 
 not permitted by the preceding
paragraphs and the outstanding principal amount of which does not exceed EUR 10,000,000 (or its equivalent) in aggregate for the BST Group at any time. However, this paragraph shall not apply to any Financial Indebtedness owing by any member of the
BST Group, ASCI or any of its Subsidiaries in each case to any member of the ITG Group. 
 “Permitted Guarantee” means: 
 the endorsement of negotiable instruments in the ordinary course of trade and on arm’s length terms; 
 any performance or similar bond guaranteeing performance by a member of the BST Group in respect of its own obligations under any contract entered into in
the ordinary course of trade; 
 any guarantee of a Permitted Joint Venture to the extent permitted by Clause 27.9 (Joint Ventures) and
provided that such a guarantee when aggregated with all other guarantees granted in respect of a Joint Venture under this paragraph (c) and the amount of any investment in any Joint Venture permitted pursuant to paragraph (f) of the
definition of Permitted Joint Venture does not exceed EUR 7,500,000 (or its equivalent) in total during the term of this Agreement; 
 any
guarantee permitted under Clause 27.22 (Financial Indebtedness); 
 any guarantee given in respect of the netting or set-off
arrangements permitted pursuant to paragraph (b) of the definition of Permitted Security; 
 any guarantee granted by an Obligor of the
obligations of another Obligor; 
 any guarantee granted by a member of the BST Group which is not an Obligor in respect of obligations of a
member of the BST Group which is an Obligor; or 
 any guarantee granted by a member of the BST Group and not permitted by the preceding
paragraphs where the maximum liability under all guarantees in this paragraph (h) does not exceed EUR 5,000,000 (or its equivalent) at any time. 
 “Permitted Joint Venture” means any investment in any Joint Venture where: 
 the Joint Venture is incorporated, or
established, and carries on its principal business in, in the European Union, the United States of America, China, Korea, Japan or South Africa; 
 the Joint Venture is engaged in a business substantially the same as that carried on by the BST Group; 
 such investment does not
result in any member of the BST Group incurring any Financial Indebtedness that is not otherwise permitted under the terms of this Agreement; 
  

 26 

 the Parent is in compliance with the financial covenants set forth in Clause 26.2 (Financial
Condition) on a pro forma basis after giving effect to such investment as of the last day of the Relevant Period most recently ended and the Parent shall have delivered to the Agents at least 10 Business Days prior to the proposed investment a
certificate evidencing compliance with Clause 26.2 as required by this paragraph (d); 
 there is no restriction (or will, on completion of
the relevant investment, not be any restriction) in the constitutional documents or elsewhere of the Joint Venture on the Security Agent being granted a charge over the shares in the Joint Venture or the enforcement of such charge and the relevant
member of the BST Group grants a charge over the shares acquired by it in such Joint Venture (whether pursuant to any Transaction Security Document or otherwise); and 
 during the term of this Agreement, the aggregate (the “Joint Venture Investment”) of: 
 all
amounts subscribed for shares in, lent to, or invested in all such Joint Ventures by any member of the BST Group; 
 the contingent
liabilities of any member of the BST Group under any guarantee or similar undertaking given in respect of the liabilities of any such Joint Venture; and 
 the market value of any assets transferred by any member of the BST Group to any such Joint Venture, 
 (including, without limitation, any Joint Venture to which ITG-Huamao China Investment Limited, Automotive Safety Components International (Changshu) Co. Ltd and/or Automotive Safety Components International GT (Proprietary Limited) may be
party) when aggregated with any guarantees permitted pursuant to paragraph (c) of the definition of Permitted Guarantee does not exceed EUR 7,500,000 (or its equivalent in other currencies). 
 “Permitted Loan” means: 
 any trade credit
extended by any member of the BST Group to its customers on normal commercial terms and in the ordinary course of its trading activities; 
 any loan made to the Original Borrower for the purposes of enabling the Original Borrower to meet its payment obligations under the Finance Documents if such payment is permitted by the Intercreditor Deed; 
 a loan made by an Obligor to another Obligor or made by a member of the BST Group which is not an Obligor to another member of the BST Group; 

any loan made by an Obligor to a member of the BST Group which is not an Obligor so long as the aggregate amount of the Financial Indebtedness under
any such loans does not exceed EUR 1,000,000 (or its equivalent) at any time; 
 any loan (including any loan evidenced by the issue of a
note) contemplated to be made pursuant to the Permitted Reorganisation Transaction; and 
 any loan (other than a loan made by a member of the
BST Group to another member of the BST Group) so long as the aggregate amount of the Financial Indebtedness under any such loans does not exceed EUR 2,000,000 (or its equivalent) at any time, 
 so long as in the case of paragraphs (c) and (d) above: 
  

	 	(i)	the creditor of such Financial Indebtedness shall (if it is an Obligor) grant security over its rights in respect of such Financial Indebtedness in favour of the Secured Parties on
terms acceptable to the Agents; and 

  

 27 

	 	(ii)	the creditor and (if the debtor is a member of the BST Group) the debtor of such Financial Indebtedness shall be party to the Intercreditor Deed as intercompany creditor and
intercompany debtor respectively. 

 “Permitted Payment” means the annual management fee of up to a maximum of EUR
1,000,000 per annum payable by Parent to the Original Investors pursuant to the terms of the Management Agreement provided that such payment is made when (i) no Default is continuing or would occur immediately after the making of
the payment and (ii) such payment is permitted by the Intercreditor Deed. 
 “Permitted Reorganisation Transaction” means any
transaction specifically described in Steps 1 to 14 of the ITG Realignment Memorandum with such modifications as the Majority Lenders may approve. 
 “Permitted Security” means: 
 any lien arising by operation of law and in the ordinary course of trading and not as
a result of any default or omission by any member of the BST Group; 
 any Transaction Security; 
 any netting or set-off arrangement entered into by any member of the BST Group in the ordinary course of its banking arrangements for the purpose of
netting debit and credit balances of members of the BST Group (including an Ancillary Facility which is an overdraft comprising more than one account) but only so long as (i) such arrangement does not permit credit balances of Obligors to be
netted or set off against debit balances of members of the BST Group which are not Obligors and (ii) such arrangement does not give rise to other Security over the assets of Obligors in support of liabilities of members of the BST Group which
are not Obligors; 
 any Security or Quasi-Security over or affecting any asset acquired by a member of the BST Group after the Closing Date
if: 
  

	 	(i)	the Security or Quasi-Security was not created in contemplation of the acquisition of that asset by a member of the BST Group; 

  

	 	(ii)	the principal amount secured has not been increased in contemplation of or since the acquisition of that asset by a member of the BST Group; and 

  

	 	(iii)	the Security or Quasi-Security is removed or discharged within four Months of the date of acquisition of such asset; 

 any Security or Quasi-Security over or affecting any asset of any company which becomes a member of the BST Group after the Closing Date, where the
Security or Quasi-Security is created prior to the date on which that company becomes a member of the BST Group; if 
  

	 	(i)	the Security or Quasi-Security was not created in contemplation of the acquisition of that company; 

  

 28 

	 	(ii)	the principal amount secured has not increased in contemplation of or since the acquisition of that company; and 

  

	 	(iii)	the Security or Quasi-Security is removed or discharged within four Months of that company becoming a member of the BST Group; 

 any Security arising under any retention of title, hire purchase or conditional sale arrangement or arrangements having similar effect in respect of goods
supplied to a member of the BST Group in the ordinary course of trading and on the supplier’s standard or usual terms and not arising as a result of any default or omission by any member of the BST Group; 
 any Quasi-Security arising as a result of a disposal which is a Permitted Disposal; 
 any Security or Quasi-Security arising as a consequence of any finance lease permitted pursuant to paragraph (f) of the definition of “Permitted
Financial Indebtedness”; 
 any Security arising under any netting or set-off arrangement entered into by any member of the BST Group
under a Hedging Agreement permitted under the terms of this Agreement for the purposes of determining the obligations of the parties to that agreement by reference to their net exposure under that agreement; 
 any Security over goods or documents of title to goods arising in the ordinary course of letter of credit transactions entered into in the ordinary course
of trade; 
 any Security created with the consent of the Majority Lenders; 
 any Security by way of set-off or pledge over bank accounts (in favour of the account-holding bank) arising by operation of law or under standard banking
terms and conditions and not as a result of default or omission by any member of the BST Group; 
 any Security arising on rental deposits in
connection with the occupation of leasehold premises in the ordinary course of business provided that the aggregate principal amount deposited at any time does not exceed an amount which is customary for such rental deposits; and 
 any Security over any asset which is not subject to Transaction Security securing indebtedness the outstanding principal amount of which (when aggregated
with the outstanding principal amount of any other indebtedness which has the benefit of Security given by any member of the BST Group other than any permitted under paragraphs (a) to (m) above) does not exceed EUR 5,000,000 (or its
equivalent). 
 “Permitted Share Issue” means an issue of: 
 ordinary shares by the Parent, paid for in full in cash upon issue and which by their terms are not redeemable and where (i) such shares are of the same class and on the same terms as those initially issued by
the Parent and (ii) such issue does not lead to a Change of Control; 
 redeemable preference shares by the Parent, paid for in full in
cash upon issue and which by their terms are not redeemable on or before the Final Disharge Date (as defined in the Intercreditor Deed) pursuant to the ITG Realignment Memorandum; 
 shares by a member of the BST Group which is a Subsidiary to its immediate Holding Company where (if the existing shares of the Subsidiary are the subject
of the Transaction Security) the newly-issued shares also become subject to the Transaction Security on the same terms; or 
  

 29 

 shares by a member of the BST Group as contemplated by the Permitted Reorganisation Transaction.

 “Permitted Transaction” means: 
 any disposal required, Financial Indebtedness incurred, guarantee, indemnity or Security or Quasi-Security given, or other transaction arising, under the Finance Documents; 
 the solvent liquidation or reorganisation of any member of the BST Group so long as any payments or assets distributed as a result of such liquidation or
reorganisation are distributed to other members of the BST Group; 
 transactions (other than the granting or creation of Security or the
granting of guarantees or the incurring or permitting to subsist of Financial Indebtedness) conducted in the ordinary course of trading on arm’s length terms; 
 any payments or other transactions contemplated by the Structure Memorandum; or 
 any transactions
contemplated by or under the Tax Sharing Agreement. 
 “Permitted U.S. Reorganisation” means the reorganisation of the BST Group as set out
in steps 5 to 9 of the Structure Memorandum. 
 “Post-Closing Lease” means each lease identified by the Parent to the Mandated Lead
Arrangers which is defined as a “Continuing Operating Lease” in the Sale and Purchase Agreement. 
 “Post-Closing Leases Maximum
Amount” means EUR 1,000,000. 
 “Priority Agent’s Spot Rate of Exchange” means the Priority Agent’s spot rate of exchange
for the purchase of the relevant currency with the Base Currency in the London foreign exchange market at or about 11:00 a.m. on a particular day. 
 “Priority Commitments” means in relation to a Lender and as the context requires, its First Lien Facility Commitment and its Revolving Facility Commitment. 
 “Priority Facilities” means the First Lien Facility and the Revolving Facility. 
 “Priority Finance
Party” means the Mandated Lead Arrangers, the Priority Agent, the Security Agent, any Priority Lender, any Hedge Counterparty, the Issuing Bank or any Ancillary Lender and “Priority Finance Parties” means all of them
together. 
 “Priority Lenders” means each Lender participating in the First Lien Facility and/or the Revolving Facility. 
 “Priority Major Event of Default” means an Event of Default which occurs under any of the following Clauses: 
 Clause 28.1 (Non-payment), including for the avoidance of doubt as a result of the failure to pay an amount due in respect of the Second Lien
Facility; 
 Clause 28.2 (Financial covenants and other obligations); or 
 Clause 28.3 (Other obligations). 
  

 30 

 “Priority Secured Party” means each Priority Finance Party from time to time party to this Agreement and
any receiver or delegate. 
 “Pro Rata Percentage” of any Revolving Lender at any time means the percentage of the Total Revolving Facility
Commitments of all Revolving Lenders represented by such Revolving Lender’s Revolving Facility Commitment. 
 “Qualifying Lender” has
the meaning given to that term in Clause 18 (Tax gross-up and indemnities). 
 “Quarter Date” means the last day of a Financial
Quarter. 
 “Quasi-Security” has the meaning given to that term in Clause 27.15 (Negative pledge). 
 “Quotation Day” means, in relation to any period for which an interest rate is to be determined, two TARGET Days before the first day of that period,
unless market practice differs in the Relevant Interbank Market for a currency, in which case the Quotation Day for that currency will be determined by the Agent in accordance with market practice in the Relevant Interbank Market (and if quotations
would normally be given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Day will be the last of those days). 
 “Real Property” means: 
 any freehold, leasehold or immovable property; and 
 any buildings, fixtures, fixed plant or machinery from time to time situated on or forming part of that freehold, leasehold or immovable property.

 “Realignment Completion” means that each of Steps 1 to 14 have been implemented and all of the conditions to each Step have been
satisfied or waived by the Majority Lenders (in each case other than in respect of the completion of necessary registrations required to be made in Germany referred to in Clause 27.37(g)). 
 “Realignment Completion Date” means the date on which Realignment Completion occurs. 
 “Realignment Information Package” means the financial model, including profit and loss, balance sheet, working capital, capital expenditure, restructuring costs and cash flow projections in agreed
form relating to the BST Group and NewCo Narricot (for these purposes assuming that each Step has occurred), each prepared by the Parent and delivered to the Agents pursuant to the Amendment Agreement. 
 “Receiver” means a receiver or receiver and manager or administrative receiver or similar insolvency official of the whole or any part of the Charged
Property. 
 “Reference Banks” means the principal office in London of Barclays Bank Plc, HSBC Bank and Merrill Lynch or such other banks as
may be appointed by the Agent in consultation with the Original Borrower. 
 “Refinancing” means the repayment in full of all indebtedness
of BST Textiles under the Deutsche Bank Facility Agreement together with all costs, fees and expenses incurred in connection therewith. 
 “Reimbursement Obligation” means a Borrower’s obligations under Clause 8.1 (Reimbursements) to reimburse LC Disbursements. 
  

 31 

 “Relative Commitment Factor” means, at any date of determination, a fraction where the numerator is the
principal amount of all commitments outstanding (whether funded or unfunded) of the BST Group under this Agreement and the denominator is the sum of the principal amounts of all commitments outstanding (whether funded or unfunded) of ITG, any
Holding Company thereof (if such a Holding Company exists, but not including the Original Investors) and any Subsidiary of ITG (including any member of the BST Group) under the ITG Facilities Agreement the Mexican Facility and this Agreement, as
applicable. 
 “Relevant Interbank Market” means the European interbank market. 
 “Relevant Jurisdiction” means, in relation to an Obligor: 
 its jurisdiction of incorporation; 
 any jurisdiction where any asset subject to or intended to be subject to
the Transaction Security to be created by it is situated; 
 any jurisdiction where it conducts its business; and 
 the jurisdiction whose laws govern the perfection of any of the Transaction Security Documents entered into by it. 
 “Relevant Period” has the meaning given to that term in Clause 26.1 (Financial definitions). 
 “Relevant Unanimous Lenders” means: 
 all
the Lenders; 
 all the Priority Lenders; or 
 all the Second Lien Lenders 
 as the case may be. 
 “Repeating Representations” means each of the representations set out in Clause 24.2 (Status) to Clause 24.5 (Power and Authority), Clause 24.11(a) (No default), paragraph
(g) of Clause 24.12 (No misleading information), Clause 24.13 (Original Financial Statements), Clause 24.19 (Good title to assets) to Clause 24.20 (Legal and beneficial ownership) and Clause 24.26 (Centre of main
interests and establishments). 
 “Reports” means the Accountants’ Report, the Environmental Report, the Legal Due Diligence Report
and the Structure Memorandum. 
 “Requirements of Law” means, collectively, any and all requirements of any Governmental Authority including
any and all laws, judgments, orders, decrees, ordinances, rules, regulations, statutes or case law. 
 “Resignation Letter” means a letter
substantially in the form set out in Schedule 7 (Form of Resignation Letter). 
 “Restructuring Costs” means all fees, costs and
expenses (including any legal, tax and accounting fees) incurred (or required to be paid) by the Parent or any other member of the BST Group in connection with the Amendment Agreement. 
 “Revolving Exposure” means with respect to any Revolving Lender at any time, the Base Currency equivalent of the aggregate amount at such time of all outstanding Revolving Facility Loans of such
Revolving Lender, plus the aggregate Base Currency amount at such time of such Revolving Lender’s LC Exposure. 
  

 32 

 “Revolving Facility” means the revolving credit facility made available under this Agreement as
described in paragraph (a)(iii) of Clause 2.1 (The Facilities). 
 “Revolving Facility Commitment” means: 
 in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading “Revolving Facility Commitment” in
Part II of Schedule 1 (The Original Parties) and the amount of any other Revolving Facility Commitment transferred to it under this Agreement; and 
 in relation to any other Lender, the amount in the Base Currency of any Revolving Facility Commitment transferred to it under this Agreement, 
 to the extent not cancelled, reduced or transferred by it under this Agreement. 
 “Revolving Facility Loan” means a loan made or to be made under the Revolving Facility or the principal amount outstanding for the time being of that loan. 
 “Revolving Facility Utilisation” means a Revolving Facility Loan or a Letter of Credit. 
 “Revolving Lender” means a Lender under the Revolving Facility. 
 “Rollover Loan” means
one or more Revolving Facility Loans: 
 made or to be made on the same day that a maturing Revolving Facility Loan is due to be repaid;

 the aggregate amount of which is equal to or less than the maturing Revolving Facility Loan; 
 in the same currency as the maturing Revolving Facility Loan; and 
 made or to be made to the same Borrower for the purpose of refinancing that maturing Revolving Facility Loan. 
 “Romanian Guarantor” has the meaning given in Clause 23.13 (Guarantee Limitation Applicable to Romanian Guarantors). 
 “Sale and Purchase Agreement” means the sale and purchase agreement dated 1 September 2006 relating to the sale and purchase of the Target Shares and made between the Original Borrower and the Vendors. 
 “Screen Rate” means the percentage rate per annum determined by the Banking Federation of the European Union for the relevant period, displayed on the
appropriate page of the Telerate screen. If the agreed page is replaced or service ceases to be available, the Agent may specify another page or service displaying the appropriate rate after consultation with the Original Borrower and the Lenders.

 “Second Lien Agent’s Spot Rate of Exchange” means the Second Lien Agent’s spot rate of exchange for the purchase of the
relevant currency with the Base Currency in the New York foreign exchange market on a particular day. 
 “Second Lien Facility” means the
term loan facility made available under this Agreement as described in paragraph (a)(ii) of Clause 2.1 (The Facilities). 
  

 33 

 “Second Lien Facility Commitment” means: 
 in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading “Second Lien Facility Commitment” in
Part II of Schedule 1 (The Original Parties) as determined in accordance with Clause 2.1(a)(ii) and the amount of any other Second Lien Facility Commitment transferred to it under this Agreement; and 
 in relation to any other Lender, the amount in the Base Currency of any Second Lien Facility Commitment transferred to it under this Agreement,

 to the extent not cancelled, reduced or transferred by it under this Agreement. 
 “Second Lien Facility Loan” means a loan made or to be made under the Second Lien Facility or the principal amount outstanding for the time being of that loan. 
 “Second Lien Finance Party” means the Mandated Lead Arrangers, the Second Lien Agent, the Security Agent, any Second Lien Lender and “Second
Lien Finance Parties” means all of them together. 
 “Second Lien Lenders” mean each Lender participating in the Second Lien
Facility. 
 “Second Lien Major Event of Default” means an Event of Default which: 
 occurs under any of the following Clauses: 
  

	 	(i)	Clause 28.1 (Non-payment) as a result of the failure to pay an amount due in respect of the Second Lien Facility only, where such failure continues unremedied for a period of
60 days; 

  

	 	(ii)	Clause 28.6 (Insolvency) in relation to the Borrower of the Second Lien Facility; 

  

	 	(iii)	Clause 28.7 (Insolvency proceedings) in relation to the Borrower of the Second Lien Facility; 

  

	 	(iv)	Clause 28.9 (Creditors’ process) in relation to the Borrower of the Second Lien Facility; or 

 has caused the Priority Agent to take any step referred to in Clause 28.20 (Acceleration) in respect of the Priority Facilities. 
 “Second Lien Secured Party” means each Second Lien Finance Party from time to time party to this Agreement and any Receiver or Delegate. 
 “Secured Account” means an account of the Parent subject to the Transaction Security. 
 “Secured Parties” means each Priority Secured Party and each Second Lien Secured Party. 
 “Security” means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect. 
 “Security Principles” means the security principles listed in Schedule 11 hereto. 
  

 34 

 “Selection Notice” means a notice substantially in the form set out in Part II of Schedule 3
(Requests) given in accordance with Clause 15 (Interest Periods) in relation to the Term Facilities. 
 “Specified Time” means
a time determined in accordance with Schedule 9 (Timetables). 
 “Standby Letter of Credit” means any standby letter of credit or
similar instrument issued for the purpose of supporting (a) workers’ compensation liabilities of a Revolving Borrower, (b) the obligations of third-party insurers of a Revolving Borrower arising by virtue of the laws of any
jurisdiction requiring third-party insurers to obtain such letters of credit, (c) performance, payment, deposit or surety obligations of a Revolving Borrower if required by a Requirement of Law or in accordance with custom and practice in the
industry. 
 “Step” means one or more of Steps 1 to 14 as specifically described on pages 7 and 8 of the ITG Realignment Memorandum.

 “Stock” means all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, shares, beneficial,
partnership or membership interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting.

 “Stock Equivalents” means all securities convertible into or exchangeable for Stock or any other Stock Equivalent and all warrants,
options or other rights to purchase, subscribe for or otherwise acquire any Stock or any other Stock Equivalent, whether or not presently convertible, exchangeable or exercisable. 
 “Structure Memorandum” means the structure paper entitled “Project Badger Tax Structure Report” describing the BST Group and the Acquisition and prepared by Ernst & Young in the
agreed form and addressed to, and/or capable of being relied upon by, the Secured Parties. 
 “Subordination Agreement” means: 

the subordination agreement dated 3 December 2007 between ITG, Narricot and the Security Agent regarding the ITG Subordinated Loan; 
 the subordination agreement dated on or about the Effective Date between ITG, the Parent and the Security Agent in respect of the BST Note; and

  

	 	(c)	the subordination agreement (the “ASCI Subordination Deed”) dated on or about the Effective Date between, among others, certain ASCI Guarantors, ITG and the
Security Agent in respect of monies owed to, among others, ITG. 

 “Subscription Agreements” means the subscription agreements
dated on or about the Closing Date and made between the Parent and the Original Investors pursuant to which the Original Investors subscribe for shares in the Parent. 
 “Subsidiary” means (i) a company, corporation or partnership in respect of which another company, corporation or partnership owns or controls by contract more than 50 per cent. of the voting
rights (a “Direct Subsidiary”) or (ii) a company, corporation or partnership in respect of which another company, corporation or partnership owns or controls by contract more than 50 per cent. of the voting rights directly or
indirectly through one or more companies, corporations or partnerships which in each case is a Direct Subsidiary of that other company, corporation or partnership. 
 “Super Majority Lenders” means a Lender or Lenders whose Commitments are in aggregate equal to or more than 90 per cent. of the Total Commitments (as if the total commitments have been reduced to zero, aggregated equal
to or more than 90 per cent. of the Total Commitments immediately prior to that reduction). 
  

 35 

 “Syndication Date” means the earlier of three months from the Closing Date and the date on which a
Successful Syndication is achieved (as determined in accordance with the Parent Fee Letter). 
 “Target” means BST Safety Textiles Holding
GmbH, a limited liability company duly incorporated and validly existing under the laws of the Federal Republic of Germany which is registered in the commercial register of the lower court of Waldshut-Tiengen under registration number HRB 521 Schpf.

 “Target Group” means the Target and its Subsidiaries. 
 “Target Shares” means all of the shares of the Target. 
 “TARGET” means Trans-European
Automated Real-time Gross Settlement Express Transfer payment system. 
 “TARGET Day” means any day on which TARGET is open for the
settlement of payments in euro. 
 “Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any
penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 
 “Tax Sharing Agreement” means
the tax sharing agreement entered into by International Textile Group, Inc. and the Parent. 
 “Term” means each period determined under
this Agreement for which the Issuing Bank is under a liability under a Letter of Credit. 
 “Term Facilities” means the First Lien Facility
and the Second Lien Facility. 
 “Term Facility Commitments” means the aggregate of the First Lien Facility Commitments and the Second Lien
Facility Commitments. 
 “Term Loan” means a First Lien Facility Loan or a Second Lien Facility Loan. 
 “Termination Date” means 30 June 2009. 
 “Total Commitments” means the aggregate of the Total First Lien Facility Commitments, Total Second Lien Facility Commitments and the Total Revolving Facility Commitments, being EUR 155,000,000 at the date of this Agreement
and EUR 142,770,317 as at the Effective Date. 
 “Total Debt” has the meaning given to that term in Clause 26.1 (Financial
definitions). 
 “Total First Lien Facility Commitments” means the aggregate of the First Lien Facility Commitments, being EUR
100,000,000 at the date of this Agreement and EUR 98,000,000 as at the Effective Date. 
 “Total Priority Commitments” means the aggregate
of the Total First Lien Facility Commitments and the Total Revolving Facility Commitments, being EUR 130,000,000 at the date of this Agreement and EUR 117,770,317 as at the Effective Date. 
 “Total Revolving Facility Commitments” means the aggregate of the Revolving Facility Commitments, being EUR 30,000,000 at the date of this Agreement and
EUR EUR 19,770,317 as at the Effective Date. 
  

 36 

 “Total Second Lien Facility Commitments” means the aggregate of the Second Lien Facility Commitments,
being EUR 25,000,000 at the date of this Agreement. 
 “Transaction Documents” means the Finance Documents, the Acquisition Documents, the
Shareholders’ Agreement, the Management Agreement, the Intercompany Loan Agreements the Constitutional Documents and the Tax Sharing Agreement.” 
 “Transaction Security” means the Security created or expressed to be created in favour of the Security Agent (or, if applicable, one or more of the Secured Parties) pursuant to the Transaction Security Documents.

 “Transaction Security Documents” means each of the documents listed as being a Transaction Security Document in Part III of Schedule 2
(Conditions Precedent), any security document referred to in Schedules 13 (Steps 5 to 9) to 15 (Steps 10 to 14) and any other document designated as such by the Parent and the Security Agent. 
 “Transfer Certificate” means a certificate substantially in the form set out in Schedule 5 (Form of Transfer Certificate) or any other form
agreed between the Agent and the Original Borrower. 
 “Transfer Date” means, in relation to a transfer, the later of: 
 the proposed Transfer Date specified in the Transfer Certificate; and 
 the date on which the Agent executes the Transfer Certificate. 
 “Treasury Transactions” means any
derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price. 
 “Treaty on European
Union” means the Treaty of Rome of 25 March 1957, as amended by the Single European Act 1986 and the Maastricht treaty (which was signed at Maastricht on 7 February 1992 and came into force on 1 November 1993). 
 “U.S. Borrower” means a Borrower that is organised under the laws of any jurisdiction of or in the United States of America. 
 “U.S. Guarantor” means a Guarantor that is organised under the laws of any jurisdiction of or in the United States of America. 
 “U.S. Member of the BST Group” means a member of the BST Group that is either organised under the laws of any jurisdiction of or in the United States of
America. 
 “U.S. Loan” means any Loan made to a U.S. Obligor. 
 “U.S. Obligor” means an Obligor that is either organised under the laws of any jurisdiction of or in the United States of America. 
 “Unpaid Sum” means any sum due and payable but unpaid by an Obligor under the Finance Documents. 
 “Utilisation” means a Loan or a Letter of Credit. 
 “Utilisation Date” means the date on which a Utilisation is
made. 
 “Utilisation Request” means a notice substantially in the form set out in Part I of Schedule 3 (Requests). 
  

 37 

 “VAT” means value added tax as provided for in the Value Added Tax Act 1994 and any other tax of a
similar nature. 
 “Vendors” means BST S.a.r.l., Hans A. Graefe, Frank Göhring and Georg Saint-Denis. 
 “Waiver Letter” means: 
 the waiver letter
dated 16 November 2007 regarding this Agreement; 
 the waiver letter dated 11 January 2008 regarding the waiver letter referred to
in paragraph (a) above; 
 the waiver letter dated as of 20 February 2008 regarding the letters referred to in paragraphs
(a) and (b); and 
 the waiver letter dated as of 3 March 2008 regarding the letters referred to in paragraphs (a), (b) and
(c). 
 “Working Capital” has the meaning given to that term in Clause 26.1 (Financial definitions). 
 Construction 
 Unless a contrary indication appears, a
reference in this Agreement to: 
 the “Priority Agent”, the “Second Lien Agent” the “Mandated Lead Arrangers”,
any “Finance Party”, any “Issuing Bank”, any “Lender”, any “Obligor”, any “Party”, any “Secured Party”, the “Security Agent” or any other person shall be construed so as to
include its successors in title, permitted assigns and permitted transferees and, in the case of the Security Agent any person for the time being appointed as Security Agent in accordance with the Finance Documents; 
 a document in “agreed form” is a document which is previously agreed in writing (and initialled for the purposes of identification) by or
on behalf of the Parent and the Agents or, if not so agreed, is in the form specified by the Agents; 
 “assets” includes
present and future properties, revenues and rights of every description; 
 a “Finance Document” or a “Transaction
Document” or any other agreement or instrument is a reference to that Finance Document or Transaction Document or other agreement or instrument as amended, varied, supplemented or novated (however fundamentally) but excluding for these
purposes any amendment, variation, supplement or novation which is contrary to the provisions of any Finance Document; 
 the
“equivalent” in any currency (the “first currency”) of any amount in another currency (the “second currency”) shall be construed as a reference to the amount in the first currency which could be
purchased with that amount in the second currency at the relevant Agent’s Spot Rate of Exchange for the purchase of the first currency with the second currency in the London foreign exchange market at or about 11.00 a.m. on a particular day (or
at or about such time and on such date as the relevant Agent may from time to time reasonably determine to be appropriate in the circumstances); 
  

 38 

 “guarantee” means (other than in Clause 23 (Guarantee and Indemnity)) any
guarantee, letter of credit, bond, indemnity or similar assurance against loss, or any obligation, direct or indirect, actual or contingent, to purchase or assume any indebtedness of any person or to make an investment in or loan to any person or to
purchase assets of any person where, in each case, such obligation is assumed in order to maintain or assist the ability of such person to meet its indebtedness (and “guaranteed” and “guarantor” shall be construed
accordingly); 
 “including” means including without limitation and “includes” and
“included” shall be construed accordingly; 
 “indebtedness” includes any obligation (whether incurred as
principal or as surety) for the payment or repayment of money, whether present or future, actual or contingent; 
 a “person”
includes any person, firm, company, corporation, government, state or agency of a state or any association, trust or partnership (whether or not having separate legal personality) of two or more of the foregoing; 
 a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law but if not
having the force of law being one with which persons who are subject thereto are accustomed to comply) of any governmental, intergovernmental or supranational body, agency, department or regulatory, self-regulatory or other authority or
organisation; 
 a provision of law is a reference to that provision as amended or re-enacted; and 
 a time of day is a reference to London time other than in respect of provisions governing the issuance of Letters of Credit where a time of day is a
reference to New York time. 
 Section, Clause and Schedule headings are for ease of reference only and, unless a contrary intention appears,
references to Section, Clauses and Schedules are references to, respectively, sections and clauses of and schedules to this Agreement and references to this Agreement include its Schedules. 
 Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or in connection with any Finance Document
has the same meaning in that Finance Document or notice as in this Agreement. 
 A Borrower providing “cash cover” for an
Ancillary Facility means a Borrower paying an amount in the currency of the Ancillary Facility to an interest-bearing account in the name of the Borrower and the following conditions being met: 
 the account is with a designated banking institution approved by the Priority Agent (if the cash cover is to be provided for all the Priority Lenders) or
with a Priority Lender or Ancillary Lender (if the cash cover is to be provided for that Priority Lender or Ancillary Lender); 
 until no
amount is or may be outstanding under that Ancillary Facility, withdrawals from the account may only be made to pay a Priority Finance Party amounts due and payable to it under this Agreement in respect of that Ancillary Facility; and 
  

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 the Borrower has executed a security document over that account, in form and substance satisfactory to
the Priority Agent or the Priority Lender or Ancillary Lender with which that account is held, creating a first ranking security interest over that account. 
 A Default or, as the case may be, an Event of Default is “continuing” if it has not been remedied or waived. 
 A Borrower “repaying” or “prepaying” Ancillary Outstandings means: 
 that
Borrower providing cash cover in respect of the Ancillary Outstandings; 
 the maximum amount payable under the Ancillary Facility being
reduced or cancelled in accordance with its terms; or 
 the Ancillary Lender being satisfied that it has no further liability under that
Ancillary Facility, 
 and the amount by which the Ancillary Outstandings are repaid or prepaid under sub-paragraphs (f)(i) and (f)(ii)
above is the amount of the relevant cash cover or reduction. 
 An amount borrowed includes any amount utilised under an Ancillary Facility.

 Words importing the plural shall include the singular and vice versa. 
 Upon BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC) acceding as a Borrower, it shall assume and perform, and shall
be jointly and severally liable for, all of the obligations and liabilities (present and future and actual or contingent) of Narricot under the Finance Documents. 
 Currency symbols and definitions 
 “euro” and “EUR” means the single currency of the European
Union as constituted by the Treaty on European Union and as referred to in EMU Legislation. 
 “dollar” and
“$” means the lawful currency of the United States of America. 
 Third party rights 
 Unless expressly provided to the contrary in a Finance Document a person who is not a Party has no right under the Contracts (Rights of Third Parties) Act
1999 (the “Third Parties Act”) to enforce or enjoy the benefit of any term of this Agreement. 
 Notwithstanding any term of
any Finance Document, the consent of any person who is not a Party is not required to rescind or vary this Agreement at any time. 
  

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 SECTION 2 
 THE FACILITIES 
 THE FACILITIES 
 The Facilities 
 Subject to the terms of this Agreement, the Lenders make available: 
 a Base Currency term loan facility in an aggregate amount equal to the Total First Lien Facility Commitments; 
 a Base Currency term loan facility in an aggregate amount equal to the Total Second Lien Facility Commitments for utilisation in the Base Currency or the
Optional Currency; 
 a Base Currency revolving credit facility in an aggregate amount equal to the Revolving Facility Commitments for
utilisation in the Base Currency or the Optional Currency. 
 The Term Facilities will be available to the Original Borrower and the Revolving
Facility will be available to the Revolving Borrowers. 
 Subject to the terms of this Agreement and the Ancillary Documents, an Ancillary
Lender may make available an Ancillary Facility to any of the Borrowers in place of all or part of its Commitment under the Revolving Facility. 
 Finance
Parties’ rights and obligations 
 The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance
Party to perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

 The rights of each Finance Party under or in connection with the Finance Documents are separate and independent rights and any debt arising
under the Finance Documents to a Finance Party from an Obligor shall be a separate and independent debt. 
 A Finance Party may, except as
otherwise stated in the Finance Documents, separately enforce its rights under the Finance Documents. 
 Obligors’ Agent 
 Each Obligor (other than the Parent) by its execution of this Agreement or an Accession Letter irrevocably appoints the Parent to act on its behalf as its
agent in relation to the Finance Documents and irrevocably authorises: 
 the Parent on its behalf to supply all information concerning itself
contemplated by this Agreement or any other Finance Document to the Finance Parties and to give all notices and instructions (including, in the case of a Borrower, Utilisation Requests), to execute on its behalf any Accession Letter, to make such
agreements and to effect the relevant amendments, supplements and variations capable of being given, made or effected by any Obligor notwithstanding that they may affect the Obligor, without further reference to or the consent of that Obligor; and

  

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 each Finance Party to give any notice, demand or other communication to that Obligor pursuant to the
Finance Documents to the Parent, 
 and in each case the Obligor shall be bound as though the Obligor itself had given the notices and
instructions (including, without limitation, any Utilisation Requests) or executed or made the agreements or effected the amendments, supplements or variations, or received the relevant notice, demand or other communication. 
 Every act, omission, agreement, undertaking, settlement, waiver, amendment, supplement, variation, notice or other communication given or made by the
Obligors’ Agent or given to the Obligors’ Agent under any Finance Document on behalf of another Obligor or in connection with any Finance Document (whether or not known to any other Obligor and whether occurring before or after such other
Obligor became an Obligor under any Finance Document) shall be binding for all purposes on that Obligor as if that Obligor had expressly made, given or concurred with it. In the event of any conflict between any notices or other communications of
the Obligors’ Agent and any other Obligor, those of the Obligors’ Agent shall prevail. 
 PURPOSE 
 Purpose 
 Each Borrower shall apply all amounts borrowed by it
under the Term Facilities towards: 
 payment to the Vendors of the purchase price for the Target Shares under the Sale and Purchase
Agreement; 
 directly or indirectly, the Refinancing; 
 the repayment of all amounts owing under the Existing Shareholder Loan including accrued interest; 
 the
discharge of lease obligations in the Federal Republic of Germany, Poland and the United States of America; and 
 the payment of the
Acquisition Costs (other than periodic fees), 
 as described in the Funds Flow Statement. 
 Each Borrower shall apply all amounts borrowed by it under the Revolving Facility, any Letter of Credit and any utilisation of any Ancillary Facility
towards the general corporate and working capital purposes of the BST Group. 
 Monitoring 
 No Finance Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement and no Finance Party will be responsible for, or for the consequences of, any such borrowing.

  

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 Financial assistance 
 No
monies borrowed pursuant to the terms of this Agreement shall be applied for any purpose which contravenes section 151 of the United Kingdom Companies Act 1985 or any equivalent legislation prohibiting financial assistance in any Relevant
Jurisdiction. 
 CONDITIONS OF UTILISATION 
 Initial
conditions precedent 
 The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) in relation to the first Loan if, on
or before the Utilisation Date for that Loan, the Agents have received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agents. The Agents shall
notify the Original Borrower and the Lenders promptly upon being so satisfied. Each Party agrees that as at the Effective Date such conditions have been satisfied and that Part I of Schedule 2 is included for historical reference only. 

Further conditions precedent 
 The Lenders will only be obliged to comply
with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the proposed Utilisation Date: 
 in the
case of a Rollover Loan, no Event of Default is continuing or would result from the proposed Loan and, in the case of any other Loan, no Default is continuing or would result from the proposed Loan; and 
 in relation to any Loan on the Closing Date, all the representations and warranties in Clause 24 (Representations) or, in relation to any other
Loan, the Repeating Representations, to be made by each Obligor are true (in all material respects). 
 Maximum number of Loans 
 A Borrower or the Parent may not deliver a Utilisation Request if as a result of the proposed loan: 
 more than two First Lien Facility Loans would be outstanding; 
 more than two Second Lien Facility Loans would be outstanding; or 
 subject to paragraph (b) below, more
than 12 Revolving Facility Utilisations would be outstanding. 
 A Borrower (or the Parent) may not request a Letter of Credit be issued under
the Revolving Facility if, as a result of the proposed utilisation, 12 or more Letters of Credit would be outstanding. 
  

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 SECTION 3 
 UTILISATION 
 UTILISATION—LOANS 
 Delivery of a Utilisation Request 
 Subject to the terms of this Agreement, a Borrower (or the Obligors’ Agent on its
behalf) may utilise a Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time or as otherwise agreed between the relevant Agent and the relevant Borrower. 
 Completion of a Utilisation Request 
 Each Utilisation
Request is irrevocable and will not be regarded as having been duly completed unless: 
 it identifies the Facility to be utilised and the
relevant Borrower; 
 the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility; 

the currency and amount of the Loan comply with Clause 5.3 (Currency and amount); 
 the limitations set out in Clause 4.3 (Maximum number of Loans) are not breached; 
 the proposed Interest Period complies with Clause 15 (Interest Periods); and 
 it specifies the account and bank (which must be in the principal financial centre of a Participating Member State in which banks are open for general
business on that day) to which the proceeds of the Loan are to be credited. 
 Only one Loan may be requested in each Utilisation Request.

 Currency and amount 
 The currency specified
in a Utilisation Request must be the Base Currency or the Optional Currency. 
 The amount of the proposed Loan must be: 
 in respect of a First Lien Facility Loan, the Available Facility in respect of the First Lien Facility; 
 in respect of a Second Lien Facility Loan, the Available Facility in respect of the Second Lien Facility; 
 in respect of the Revolving Facility if the currency selected is the Base currency a minimum of EUR 1,000,000 and if the currency selected is an Optional
Currency, the equivalent of EUR 1,000,000 at the Priority Agent’s Spot Rate of Exchange or, if less, the Available Facility in respect of the Revolving Facility. 
  

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 Lenders’ participation 
 If the conditions set out in this Agreement have been met, each Lender shall make its participation in each Loan available by the Utilisation Date through its Facility Office. 
 The amount of each Lender’s participation in each Loan will be equal to the proportion borne by its Available Commitment to the Available Facility
immediately prior to making the Loan. 
 Limitations on Utilisations 
 The First Lien Facility shall be utilised in full and shall not be utilised unless the Second Lien Facility has been utilised in full. 
 The First Lien Facility may only be utilised on the Closing Date. 
 The Second Lien Facility may only be
utilised on the Closing Date. 
 The Revolving Facility shall not be utilised unless the First Lien Facility have been utilised in full.

 The maximum aggregate amount of the actual and contingent liabilities of the Issuing Bank under all Letters of Credit shall not at any time
exceed EUR 7,500,000 (such amount being the “LC Commitment”). 
 The maximum aggregate amount of the Ancillary Commitments of
all the Lenders shall not at any time exceed EUR 7,500,000. 
 Automatic Cancellation 
 Any part of any Facility undrawn on the last day of the relevant Availability Period will be automatically cancelled. 
 OPTIONAL CURRENCIES 
 Selection of currency 
 A
Borrower (or the Parent on behalf of a Borrower) shall select the currency of a Utilisation in a Utilisation Request. 
 Unavailability of a currency

 If before the Specified Time on any Quotation Day or such other time as specified by the relevant Agent: 
 a Lender notifies the relevant Agent that the Optional Currency requested is not readily available to it in the amount required; or 
 a Lender notifies the relevant Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law
or regulation applicable to it, 
 the relevant Agent will give notice to the relevant Borrower or Parent to that effect by the Specified Time on that day,
or such other time as specified by the relevant Agent. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Loan in the Base Currency 

  

 45 

 
(in an amount equal to that Lender’s proportion of the Base Currency Amount, or in respect of a Rollover Loan, an amount equal to that Lender’s
proportion of the Base Currency Amount of the Rollover Loan that is due to be paid) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period. 
 Agent’s calculations 
 Each Lender’s participation in a Loan in the
Optional Currency will be determined in accordance with paragraph (b) of Clause 5.4 (Lenders’ participation). 
 UTILISATION—LETTERS
OF CREDIT 
 General 
 Subject to the terms and conditions set
forth herein, a Revolving Borrower (or the Parent on its behalf) may request the Issuing Bank to issue Letters of Credit denominated in the Base Currency or the Optional Currency for its own account. The Issuing Bank shall have no obligation to
issue, and a Revolving Borrower (or the Parent on its behalf) shall not request the issuance of, any Letter of Credit at any time if after giving effect to such issuance, the LC Exposure would exceed the LC Commitment or the Total Revolving
Outstandings would exceed the Total Revolving Facility Commitments. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement
submitted by a Revolving Borrower (or the Parent on its behalf) to, or entered into by a Revolving Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall prevail. 
 The Revolving Facility 
 The Revolving Facility may be
utilised by way of Letters of Credit. 
 Other than Clause 5.5 (Limitations on Utilisations), Clause 5 (Utilisation—Loans)
does not apply to utilisations by way of Letters of Credit and Clause 10.2 (Repayment of Revolving Facility Loans). 
 Request for Issuance,
Amendment, Renewal; Certain Conditions and Notices 
 To request the issuance of a Letter of Credit or the amendment or renewal of an
outstanding Letter of Credit, a Revolving Borrower shall deliver, by hand or telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank), an LC Request to the Issuing Bank and the
Priority Agent not later than 11:00 a.m. on the fifth Business Day preceding the requested date of issuance, amendment or renewal (or such later date and time as is acceptable to the Issuing Bank). 
 A request for an initial issuance of a Letter of Credit shall specify in form and detail satisfactory to the Issuing Bank: 
 the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); 
 the amount and the currency thereof (which shall be either the Base Currency or the Optional Currency); 
 the expiry date thereof (which shall not be later than the close of business on the Letter of Credit Expiration Date); 
  

 46 

 the name and address of the beneficiary thereof; 
 the documents to be presented by such beneficiary in connection with any drawing thereunder; 
 the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and 
 such other matters as the Issuing Bank may reasonably require. 
 A request for an amendment or renewal of any outstanding Letter of Credit shall specify in form and detail satisfactory to the Issuing Bank: 
 the Letter of Credit to be amended or renewed; 
 the proposed date of amendment or renewal thereof (which shall be a Business Day); 
 the nature of the proposed amendment or
renewal; and 
 such other matters as the Issuing Bank may reasonably require. 
 If requested by the Issuing Bank, the relevant Revolving Borrower also shall submit a letter of credit application on the Issuing Bank’s standard
form in connection with any request for a Letter of Credit. 
 A Letter of Credit shall be issued, amended or renewed only if: 
 other than in the case of an amendment or renewal, no Default is continuing or would result from the proposed Utilisation; 
 in relation to any Utilisation on the Closing Date, all the representations and warranties in Clause 24 (Representations) or, in relation to any
other Utilisation, the Repeating Representations to be made by each Obligor are true in all material respects; and 
 after giving effect to
such issuance, amendment or renewal: 
 the LC Exposure shall not exceed the LC Commitment; and 
 the Total Revolving Outstandings shall not exceed the Total Revolving Facility Commitments. 
 The minimum amount of each Letter of Credit shall be agreed between the Issuing Bank and the relevant Revolving Borrower at the time of the LC Request.

 The Priority Agent shall determine the Base Currency Amount of each Letter of Credit which is to be issued in the Optional Currency and
shall notify the Issuing Bank by the Specified Time. 
 Upon the issuance of any Letter of Credit or amendment to or renewal of a Letter of
Credit, the Issuing Bank shall promptly notify the Priority Agent, who shall promptly notify each Revolving Lender, thereof, which notice shall be accompanied by a copy of such Letter of Credit or amendment or renewal to a Letter of Credit and the
amount of such Lender’s respective participation in such Letter of Credit pursuant to Clause 7.5 (Participations). 
  

 47 

 On the first Business Day of each calendar month, the Issuing Bank shall provide to the Priority Agent a
report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Priority Agent shall promptly provide such report to each Revolving Lender. 
 Expiration Date 
 Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the
expiry date specified for the relevant Letter of Credit in the relevant LC Request and (ii) the Letter of Credit Expiration Date. 
 Participations

 By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of
the Issuing Bank or the Lenders, the Issuing Bank hereby irrevocably grants to each Revolving Lender, and each Revolving Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Revolving Lender’s Pro
Rata Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Priority Agent, for the
account of the Issuing Bank, such Revolving Lender’s Pro Rata Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the relevant Revolving Borrower on the date due as provided in Clause 8.1 (Reimbursement), or
of any reimbursement payment required to be refunded to the relevant Revolving Borrower for any reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this Clause 7.5 in respect of Letters of
Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment or renewal of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments,
or expiration, termination or cash collateralisation of any Letter of Credit and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
 Revaluation of Letters of Credit 
 If any Letters of Credit are denominated in an Optional Currency, the
Priority Agent shall at six monthly intervals after the date of the Letter of Credit recalculate the Base Currency Amount of each Letter of Credit by notionally converting into the Base Currency the outstanding amount of that Letter of Credit on the
basis of the Priority Agent’s Spot Rate of Exchange on the date of calculation. 
 The Parent shall, if requested by the Priority Agent
within 5 days of any calculation under paragraph (a) above, ensure that within three Business Days sufficient Revolving Facility Utilisations are prepaid to prevent the Base Currency Amount of the Revolving Facility Utilisations exceeding the
Total Revolving Facility Commitments (after deducting the total Ancillary Commitments) following any adjustment to a Base Currency Amount under paragraph (a) of this Clause 7.6. 
 LETTERS OF CREDIT 
 Reimbursement 
 If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the relevant Revolving Borrower shall reimburse such LC Disbursement by paying to the Issuing Bank an amount equal to such LC
Disbursement not later than 3:00 p.m., New York City time, on the date that such LC Disbursement is made if the relevant Revolving Borrower shall have received notice of such LC Disbursement prior to 

  

 48 

 
11:00 a.m., New York City time, on such date, or, if such notice has not been received by Borrower prior to such time on such date, then not later than 3:00
p.m., New York City time, on the Business Day immediately following the day that Revolving Borrower receives such notice. 
 If the relevant
Revolving Borrower fails to make such payment when due, the Issuing Bank shall notify the Priority Agent and the Priority Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from the relevant Revolving
Borrower in respect thereof and such Revolving Lender’s Pro Rata Percentage thereof. 
 Each Revolving Lender shall pay by wire transfer
of immediately available funds to the Priority Agent not later than 2:00 p.m., New York City time, on such date (or, if such Revolving Lender shall have received such notice later than 12:00 noon, New York City time, on any day, not later than 11:00
a.m., New York City time, on the immediately following Business Day), an amount equal to such Revolving Lender’s Pro Rata Percentage of the unreimbursed LC Disbursement to an account designated by the Priority Agent, and the Priority Agent will
promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. The Priority Agent will promptly pay to the Issuing Bank any amounts received by it from the relevant Borrower pursuant to Clause 8.1(a) above prior to the
time that any Revolving Lender makes any payment pursuant to the preceding sentence and any such amounts received by the Priority Agent from the relevant Borrower thereafter will be promptly remitted by the Priority Agent to the Revolving Lenders
that shall have made such payments and to the Issuing Bank, as appropriate 
 If any Revolving Lender shall not have made its Pro Rata
Percentage of such LC Disbursement available to the Priority Agent as provided in Clause 8.1(c) above, each of such Revolving Lender and the relevant Revolving Borrower severally agrees to pay interest on such amount, for each day from and including
the date such amount is required to be paid in accordance with the foregoing to but excluding the date such amount is paid, to the Priority Agent for the account of the Issuing Bank at (i) in the case of the relevant Revolving Borrower, the
rate per annum set forth in Clause 8.5 (Interim Interest) and (ii) in the case of such Lender, at a rate determined by the Priority Agent in accordance with banking industry rules or practices on interbank compensation. 
 All payments made pursuant to this Clause 8.1 (Reimbursements) shall be in the currency in which the LC Disbursement giving rise to such payment is
denominated. 
 Indemnities 
 Each Revolving
Borrower shall immediately on demand indemnify the Issuing Bank against any cost, loss or liability incurred by the Issuing Bank (otherwise than by reason of the Issuing Bank’s gross negligence or wilful misconduct) in acting as the Issuing
Bank under any Letter of Credit requested by (or on behalf of) that Revolving Borrower. 
 To the extent that the Issuing Bank has not been
reimbursed pursuant to Clause 8.1 (Reimbursement) hereof, each Revolving Lender shall (according to its Pro Rata Percentage of the aggregate LC Exposure) immediately on demand indemnify the Issuing Bank against any cost, loss or liability
incurred by the Issuing Bank (otherwise than by reason of the Issuing Bank’s gross negligence or wilful misconduct) in acting as the Issuing Bank under any Letter of Credit (unless the Issuing Bank has been reimbursed by an Obligor pursuant to
a Finance Document). 
  

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 The obligations of each Revolving Lender under this Clause 8 are continuing obligations and will extend
to the ultimate balance of sums payable by that Lender in respect of any Letter of Credit, regardless of any intermediate payment or discharge in whole or in part. 
 Obligations Absolute 
 The Reimbursement Obligation of the relevant Revolving Borrower as provided in Clause 8.1
(Reimbursement) and the obligations of each Revolving Borrower and each Revolving Lender pursuant to Clause 8.2 (Indemnities) shall be absolute, unconditional and irrevocable, and shall be paid and performed strictly in accordance with
the terms of this Agreement under any and all circumstances whatsoever and irrespective of: 
 any time, waiver or consent granted to, or
composition with, any Obligor, any beneficiary under a Letter of Credit or any other person; 
 the release of any other Obligor or any other
person under the terms of any composition or arrangement with any creditor or any member of the BST Group; 
 the taking, variation,
compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of, any Obligor, any beneficiary under a Letter of Credit or other person or any non-presentation or
non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security; 
 any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor, any beneficiary under a Letter of Credit or any other person; 
 any amendment (however fundamental) or replacement of a Finance Document, any Letter of Credit or any other document or security; 
 any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document, any Letter of Credit or any other document or
security; or 
 any insolvency or similar proceedings. 
 None of the Priority Agent or the Security Agent, the Lenders, the Issuing Bank or any of their Affiliates shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any
Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft,
notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the
Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the relevant Revolving Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which
are hereby waived by the relevant Revolving Borrower to the extent permitted by applicable Requirements of Law) suffered by the relevant Revolving Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether
drafts and other documents presented under a Letter of Credit comply with the terms thereof. 
  

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 The parties hereto expressly agree that, in the absence of gross negligence or wilful misconduct on the
part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof,
the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such
documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such
Letter of Credit. 
 Disbursement Procedures 
 The Issuing Bank
shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly give written notice to the Priority Agent and the relevant Revolving Borrower
of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the relevant Revolving Borrower of its
Reimbursement Obligation to the Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement (other than with respect to the timing of such Reimbursement Obligation set forth in Clause 8.1 (Reimbursement). 
 Interim Interest 
 If the Issuing Bank shall make any LC Disbursement, then,
unless the relevant Revolving Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest payable on demand, for each day from and including the date such LC
Disbursement is made to but excluding the date that the relevant Revolving Borrower reimburses such LC Disbursement, at the rate set out in Clause 14.3 (Default Interest). Interest accrued pursuant to this paragraph shall be for the account
of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to Clause 8.1(d) to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 
 Cash Collateralisation 
 If any Event of Default shall occur
and be continuing, two Business Days following the day on which the Parent or the relevant Revolving Borrower receives notice from the Priority Agent or the Majority Priority Lenders demanding the deposit of cash collateral pursuant to this
paragraph, the Parent or the relevant Revolving Borrower, as applicable, shall deposit on terms and in accounts satisfactory to the Security Agent, in the name of the Security Agent and for the benefit of the Revolving Lenders, an amount in cash
equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable,
without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Parent or the relevant Revolving Borrower pursuant to Clause 28.6 (Insolvency), Clause 28.7 (Insolvency Proceedings) or Clause
28.8 (German Insolvency), as applicable. 
 Funds deposited pursuant to Clause 8.6(a) above, shall be applied by the Security Agent to
reimburse the Issuing Bank for LC Disbursements for which it has not been 

  

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reimbursed and, to the extent not so applied, shall be held for the satisfaction of outstanding Reimbursement Obligations or, if the maturity of the Loans
has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations of the relevant Revolving Borrower under this Agreement. If the
Parent or the relevant Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount plus any accrued interest or realised profits with respect to such amounts (to the
extent not applied as aforesaid) shall be returned to the Parent or the relevant Borrower, as applicable, within three Business Days after all Events of Default have been cured or waived. 
 Additional Issuing Banks 
 The Parent may, at any time and from time to time,
designate one or more additional Revolving Lenders to act as an issuing bank under the terms of this Agreement, with the consent of the Priority Agent (which consent shall not be unreasonably withheld), the Issuing Bank and such Revolving Lender(s).
Any Lender designated as an issuing bank pursuant to this Clause 8.7 shall be deemed (in addition to being a Revolving Lender) to be the Issuing Bank with respect to Letters of Credit issued or to be issued by such Revolving Lender, and all
references herein and in the other Finance Documents to the term “Issuing Bank” shall, with respect to such Letters of Credit, be deemed to refer to such Revolving Lender in its capacity as Issuing Bank, as the context shall require.

 Resignation or Removal of the Issuing Bank 
 The Issuing Bank may resign as Issuing Bank hereunder at any time upon at least 30 days’ prior notice to the Lenders, the Priority Agent and the Parent. 
 The Issuing Bank may be replaced at any time by written agreement among the Parent, the Priority Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of
any such replacement of the Issuing Bank or any such additional Issuing Bank. 
 From and after the effective date of any such resignation or
replacement or addition, as applicable, (i) the successor or additional Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued by it thereafter and
(ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or such addition or to any previous Issuing Bank, or to such successor or such addition and all previous Issuing Banks, as the context shall
require. 
 After the resignation or replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall
continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. If at
any time there is more than one Issuing Bank hereunder, the relevant Borrower may, in its discretion, select which Issuing Bank is to issue any particular Letter of Credit. 
 Other 
 The Issuing Bank shall be under no obligation to issue any Letter of Credit if the issuance of such
Letter of Credit would violate one or more policies of the Issuing Bank. 
 The Issuing Bank shall be under no obligation to amend any Letter
of Credit if: 
 the Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended form under the terms
hereof; or 
  

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 the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit.

 Rights of contribution 
 No Obligor will be entitled to any
right of contribution or indemnity from any Finance Party in respect of any payment it may make under this Clause 8. 
 ANCILLARY FACILITIES

 Type of Facility 
 An Ancillary Facility may be by way of:

 an overdraft facility; 
 a
guarantee, bonding, documentary or stand-by letter of credit facility; 
 a short term loan facility; 
 a derivatives facility; 
 a foreign exchange
facility; or 
 any other facility or accommodation required in connection with the business of the BST Group and which is agreed by the
Parent with an Ancillary Lender. 
 Availability 
 If the Parent and a Lender agree and except as otherwise provided in this Agreement, the Lender may provide an Ancillary Facility on a bilateral basis in place of all or part of that Lender’s unutilised Revolving Facility Commitment
(which shall (except for the purpose of determining the Majority Lenders) be reduced by the amount of the Ancillary Commitment under that Ancillary Facility). 
 An Ancillary Facility shall not be made available unless, not later than 10 Business Days prior to the Ancillary Commencement Date for an Ancillary Facility, the Priority Agent has received from the Parent:

 a notice in writing requesting the establishment of an Ancillary Facility and specifying: 
 the proposed Borrower(s) which may use the Ancillary Facility; 
 the proposed Ancillary Commencement Date and expiry date of the Ancillary Facility (which must fall on or before the Termination Date); 
 the proposed type of Ancillary Facility to be provided (which must comply with Clause 9.1 (Type of Facility)); 
 the proposed Ancillary Lender (which must be a Lender under the Revolving Facility); 
  

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 the proposed Ancillary Commitment, the maximum amount of the Ancillary Facility (if not denominated in
the Base Currency) and, if the Ancillary Facility is an overdraft facility comprising more than one account its maximum gross amount (that amount being the “Designated Gross Amount”) and its maximum net amount (that amount being the
“Designated Net Amount”); and 
 the proposed currency of the Ancillary Facility; 
 a copy of the proposed Ancillary Document(s); and 
 any other information which the Agent may reasonably request in connection with the Ancillary Facility. 
 The Priority Agent shall
promptly notify the Parent, the Ancillary Lender and the other Lenders of the establishment of an Ancillary Facility. 
 No amendment or
waiver of a term of any Ancillary Facility shall require the consent of any Finance Party other than the relevant Ancillary Lender unless such amendment or waiver itself relates to or gives rise to a matter which would require an amendment of or
under this Agreement (including, for the avoidance of doubt, under this Clause). In such a case, the provisions of this Agreement with regard to amendments and waivers will apply. 
 Subject to compliance with paragraph (b) above: 
 the Lender concerned will become an Ancillary Lender; and 
 the Ancillary Facility will be available, 
 with effect from the date agreed by the Parent and the Ancillary Lender. 
 Terms of Ancillary Facilities 
 Except as provided below, the terms of any Ancillary Facility will be those
agreed by the Ancillary Lender and the Parent. 
 However, those terms: 
 must be based upon normal commercial terms at that time (except as varied by this Agreement); 
 may allow only Borrowers to use the Ancillary Facility; 
 may not allow the Ancillary Outstandings to exceed the Ancillary Commitment; 
 may not allow the Ancillary
Commitment of a Lender to exceed the Available Commitment with respect to the Revolving Facility of that Lender; and 
 must require that the
Ancillary Commitment is reduced to nil, and that all Ancillary Outstandings are repaid (or cash cover provided in respect of all the Ancillary Outstandings) not later than the Termination Date. 
 If there is any inconsistency between any term of an Ancillary Facility and any term of this Agreement, this Agreement shall prevail except for
(i) Clause 37.3 (Day count convention) which shall not prevail for the purposes of calculating fees, interest or commission relating to an Ancillary Facility and (ii) an Ancillary Facility comprising more than one account where the
terms of the Ancillary Documents shall prevail. 
  

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 Interest, commission and fees on Ancillary Facilities are dealt with in Clause 17.5 (Interest,
commission and fees on Ancillary Facilities). 
 Repayment of Ancillary Facility 
 An Ancillary Facility shall cease to be available on the Termination Date or such earlier date on which its expiry date occurs or on which it is cancelled
in accordance with the terms of this Agreement. 
 If an Ancillary Facility expires in accordance with its terms the Ancillary Commitment of
the Ancillary Lender shall be reduced to zero (and its Revolving Facility Commitment shall be increased accordingly). 
 No Ancillary Lender
may demand repayment or prepayment of any amounts or demand cash cover for any liabilities made available or incurred by it under its Ancillary Facility (except where the Ancillary Facility is provided on a net limit basis to the extent required to
bring any gross outstandings down to the net limit) unless: 
 the Total Revolving Facility Commitments have been cancelled in full, or all
outstanding Revolving Facility Loans have become due and payable in accordance with the terms of this Agreement, or the Priority Agent has declared all outstanding Revolving Facility Loans immediately due and payable, or the expiry date of the
Ancillary Facility occurs; or 
 it becomes unlawful in any applicable jurisdiction for the Ancillary Lender to perform any of its obligations
as contemplated by this Agreement or to fund, issue or maintain its participation in its Ancillary Facility; or 
 the Ancillary Outstandings
(if any) under that Ancillary Facility can be refinanced by a Revolving Facility Utilisation and the Ancillary Lender gives sufficient notice to enable a Revolving Facility Loan to be made to refinance those Ancillary Outstandings. 
 For the purposes of determining whether or not the Ancillary Outstandings under an Ancillary Facility mentioned in sub-paragraph (iii) of paragraph
(c) above can be refinanced by a Revolving Facility Loan: 
 the Revolving Facility Commitment of the Ancillary Lender will be increased
by the amount of its Ancillary Commitment; and 
 the Revolving Facility Loan may (so long as sub-paragraph (i) of paragraph
(c) above does not apply) be made irrespective of whether a Default is outstanding or any other applicable condition precedent is not satisfied (but only to the extent that the proceeds are applied in refinancing those Ancillary Outstandings)
and irrespective of whether Clause 4.3 (Maximum number of Loans) or paragraph (iii) of Clause 5.2 (Completion of a Utilisation Request for Loans) applies. 
 On the making of a Revolving Facility Utilisation to refinance Ancillary Outstandings: 
 each Lender will participate in that Utilisation in an amount (as determined by the Agent) which will result as nearly as possible in the aggregate amount
of its 

  

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participation in the Revolving Facility Utilisation then outstanding bearing the same proportion to the aggregate amount of the Revolving Facility
Utilisations then outstanding as its Revolving Facility Commitment bears to the aggregate of the Revolving Facility Commitments; and 
 the
relevant Ancillary Facility shall be cancelled. 
 In relation to an Ancillary Facility which comprises an overdraft facility where a
Designated Net Amount has been established, the Ancillary Lender providing that Ancillary Facility shall only be obliged to take into account for the purposes of calculating compliance with the Designated Net Amount those credit balances which it is
permitted to take into account by the then current law and regulations in relation to its reporting of exposures to any applicable regulatory authorities as netted for capital adequacy purposes. 
 Ancillary Outstandings 
 Each Borrower and each Ancillary Lender agrees with
and for the benefit of each Lender that: 
 the Ancillary Outstandings under any Ancillary Facility provided by that Ancillary Lender shall
not exceed the Ancillary Commitment applicable to that Ancillary Facility and where the Ancillary Facility is an overdraft facility comprising more than one account, Ancillary Outstandings under that Ancillary Facility shall not exceed the
Designated Net Amount in respect of that Ancillary Facility; and 
 where all or part of the Ancillary Facility is an overdraft facility
comprising more than one account, the Ancillary Outstandings (calculated on the basis that the words in brackets in paragraph (a) of the definition of that term were deleted) shall not exceed the Designated Gross Amount applicable to that
Ancillary Facility. 
 Adjustment for Ancillary Facilities upon acceleration 
 In this Clause 9.6: 
 “Revolving Outstandings” means, in relation to a Lender, the aggregate of the
equivalent in the Base Currency of (i) its participation in each Revolving Facility Utilisation then outstanding, and (ii) if the Lender is also an Ancillary Lender, the Ancillary Outstandings in respect of Ancillary Facilities provided by
that Ancillary Lender. 
 “Total Revolving Outstandings” means the aggregate of all Revolving Outstandings. 
 If a notice is served under Clause 28.20 (Acceleration) (other than a notice declaring Loans to be due on demand), each Lender and each Ancillary
Lender shall adjust by corresponding transfers (to the extent necessary) their claims in respect of amounts outstanding to them under the Revolving Facility and each Ancillary Facility to ensure that after such transfers the Revolving Outstandings
of each Lender bears the same proportion to the Total Revolving Outstandings as such Lender’s Revolving Facility Commitment bears to the Total Revolving Facility Commitments, each as at the date the notice is served under Clause 28.20
(Acceleration). 
 If an amount outstanding under an Ancillary Facility is a contingent liability and that contingent liability becomes
an actual liability or is reduced to zero after the original adjustment is made under paragraph (a) above, then each Lender and Ancillary Lender will make a further adjustment by corresponding transfers (to the extent necessary) to put
themselves in the position they would have been in had the original adjustment been determined by reference to the actual liability or, as the case may be, zero liability and not the contingent liability. 
  

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 Prior to the application of the provisions of paragraph (a) of this Clause 9.6, an Ancillary Lender
that has provided an overdraft comprising more than one account under an Ancillary Facility shall set-off any liabilities owing to it under such overdraft facility against credit balances on any account comprised in such overdraft facility.

 Information 
 Each Borrower and each Ancillary Lender shall,
promptly upon request by the Priority Agent, supply the Priority Agent with any information relating to the operation of an Ancillary Facility (including the Ancillary Outstandings) as the Priority Agent may reasonably request from time to time.
Each Borrower consents to all such information being released to the Priority Agent and the other Finance Parties. 
  

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 SECTION 4 
 REPAYMENT, PREPAYMENT AND CANCELLATION 
 REPAYMENT 
 Repayment of Term Facility Loans 
 The Original Borrower shall
repay the aggregate Term Loans in full on the Termination Date. 
 The Original Borrower may not reborrow any Term Facility which is repaid.

 Repayment of Revolving Facility Loans 
 Each
Borrower which has drawn a Revolving Facility Loan shall repay that Loan on the last day of its Interest Period and shall repay in full all outstanding Revolving Facility Loans on the Termination Date. 
 The Borrowers may reborrow any Revolving Facility Loan which is repaid. 
 ILLEGALITY, VOLUNTARY PREPAYMENT AND CANCELLATION 
 Illegality 
 If it becomes unlawful in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or to fund, issue or maintain its
participation in any Loan: 
 that Lender shall promptly notify the Agent upon becoming aware of that event; 
 upon the Agent notifying the Parent, the Commitment of that Lender will be immediately cancelled; and 
 each Borrower shall repay that Lender’s participation in the Loans made to that Borrower on the last day of the Interest Period for each Loan
occurring after the Agent has notified the Parent or, if earlier, the date specified by the Lender in the notice delivered to the Agents (being no earlier than the last day of any applicable grace period permitted by law). 
 Illegality in relation to Issuing Bank 
 If it becomes unlawful for an
Issuing Bank to issue or leave outstanding any Letter of Credit, then: 
 that Issuing Bank shall promptly notify the Priority Agent upon
becoming aware of that event; 
 upon the Priority Agent notifying the Parent, the Issuing Bank shall not be obliged to issue any Letter of
Credit; 
 the Parent shall procure that the relevant Revolving Borrower shall use its best endeavours to procure the release of each Letter
of Credit issued by that Issuing Bank and outstanding at such time; and 
 unless any other Lender has agreed to be an Issuing Bank pursuant
to the terms of this Agreement, the Revolving Facility shall cease to be available for the issue of Letters of Credit. 
  

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 Voluntary cancellation 
 The Parent may, if it gives the Agents not less than five Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, cancel the whole or any part (being a minimum amount of EUR
1,000,000 and an integral multiple of EUR 500,000 of an Available Facility. Any cancellation under this Clause 11.3 shall reduce the Commitments of the Lenders rateably under that Facility. 
 Any notice of cancellation of the Revolving Facility Available Commitments delivered at any time while Term Facility Loans remain outstanding and/or Term
Facility Commitments remain uncancelled must be accompanied by evidence, in form and substance satisfactory to the Majority Lenders (acting reasonably), that the BST Group will have sufficient working capital facilities available to it following
such cancellation. 
 Voluntary prepayment of Term Loans 
 Subject to paragraph (c) below, the Original Borrower may, if it gives the Agents not less than five Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Term
Loan (but, if in part, being an amount that reduces the Base Currency Amount of that Term Loan by a minimum amount of EUR 1,000,000 and an integral multiple of EUR 500,000). 
 Subject to the Intercreditor Deed, a Second Lien Facility Loan shall only be prepaid if all the Priority Facility Loans have been prepaid in full or will
be prepaid in full at the same time and any prepayment fee payable under Clause 17.4 (Second Lien Facility Prepayment Fee) in relation to that prepayment is paid at the same time as the prepayment. 
 A prepayment under this Clause 11.4 shall prepay the Priority Facilities in such order as the Parent shall determine. 
 Voluntary prepayment of Revolving Facility Utilisations 
 A Borrower to which
a Revolving Facility Utilisation has been made may, if it or the Parent gives the Priority Agent not less than five Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a
Revolving Facility Utilisation (but if in part, being an amount that reduces the Base Currency Amount of the Revolving Facility Utilisation by a minimum amount of EUR 1,000,000 and an integral multiple of EUR 500,000). 
 Right of cancellation and repayment in relation to a single Lender or Issuing Bank 
 If: 
 any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of
Clause 18.2 (Tax gross-up); or 
 any Lender claims indemnification from an Obligor under Clause 18.3 (Tax indemnity) or Clause
19.1 (Increased costs), 
 the Original Borrower may, whilst the circumstance giving rise to the requirement or indemnification continues, give the
Priority Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans. 
  

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 On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of
that Lender shall immediately be reduced to zero. 
 On the last day of each Interest Period which ends after the Original Borrower has given
notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Original Borrower in that notice), each Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan
together with all interest and other amounts accrued under the Finance Documents. 
 MANDATORY PREPAYMENT 
 Exit 
 For the purpose of this Clause 12.1 “Equity
Issuance” means a Flotation, any other public or private offering or any other equity or equity-linked issuance of or by any member of the BST Group, any Holding Company of any member of the BST Group or by ITG or any Holding Company of ITG
(if such a Holding Company exists). 
 For the purpose of this Clause 12.1, “Flotation” means a successful application being
made for the admission of any part of the share capital of any member of the BST Group (or Holding Company of any member of the BST Group) or ITG (or any Holding Company of ITG if such a Holding Company exists), as applicable, or the grant of
permission to deal in any part of the issued share capital of any member of the BST Group (or Holding Company of any member of the BST Group) or ITG (or any Holding Company of ITG if such a Holding Company exists), as applicable, on any recognised
investment exchange (as that term is used in the Financial Services and Markets Act 2000) or in or on any exchange or market replacing the same or any other exchange or market in any country or any other sale or issue by way of flotation or public
offering or any equivalent circumstances in relation to any member of the BST Group (or Holding Company of any member of the BST Group) or ITG (or any Holding Company of ITG if such a Holding Company exists), as applicable, in any jurisdiction or
country. 
 For the purpose of this Clause 12.1: 
 a “Change of Control” will occur if: 
 prior to a Flotation, the Original Investors, together with any of their
Affiliates cease to be (directly or indirectly including, for the avoidance of doubt, through holding companies for the purpose of effecting an anticipated Flotation (it being understood that no such holding companies are in existence as at the
Closing Date)) the legal and beneficial owners of share capital having the right to cast more than 50 per cent. of the votes capable of being cast in general meetings of the Parent; or 
 after a Flotation, the Original Investors, together with any of their Affiliates cease to be (directly or indirectly including, for the avoidance of
doubt, through holding companies formed for the purpose of effecting such a Flotation (it being understood that no such holding companies are in existence as at the Closing Date) legal and beneficial owners of share capital having the right to cast
more than 30 per cent. of the votes capable of being cast in general meetings of the Parent; or 
  

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 any person or persons acting in concert (other than the Original Investors or any of their Affiliates)
shall have acquired beneficial ownership of the share capital of the Parent representing a larger proportion than the share capital directly or indirectly owned by the Original Investors together with any of their Affiliates; or 
 any persons or persons acting in concert shall have acquired the power (whether by way of ownership of shares, proxy, contract, agency or otherwise) to
direct the management and policies or composition of the board of the Parent. 
 Upon the occurrence of: 
 a Change of Control (including as a result of an Equity Issuance); or 
 the Parent ceasing to legally and beneficially own the entire issued share capital of the Target; or 
 the
sale of all or substantially all of the assets of the BST Group whether in a single transaction or a series of related transactions, 
 the
Facilities will be cancelled and all outstanding Loans and Ancillary Outstandings, together with accrued interest, and all other amounts accrued under the Finance Documents, shall become immediately due and payable. 
 Disposal, Insurance, Acquisition, Equity and Debt Proceeds and Excess Cashflow 
 For the purposes of this Clause 12.2, Clause 12.3 (Application of mandatory prepayments) and Clause 12.4 (Mandatory Prepayment Accounts and Holding Accounts): 
 “Acquisition Proceeds” means (to the extent they exceed in aggregate in any Financial Year EUR 1,000,000) the proceeds of a claim (a
“Recovery Claim”) against the Vendors or any of their Affiliates (or any employee, officer or adviser of any such person) in relation to any Acquisition Document or against the provider of any Report (in its capacity as a provider
of that Report), except for Excluded Acquisition Proceeds, and after deducting: 
 any reasonable expenses which are incurred by any member of
the BST Group to persons who are not members of the BST Group; and 
 any Tax incurred and required to be paid by a member of the BST Group
(as reasonably determined by the relevant member of the BST Group on the basis of existing rates and taking into account any available credit, deduction or allowance), 
 in each case in relation to that Recovery Claim. 
 “BST Debt Proceeds” means the net
proceeds of any Financial Indebtedness incurred by any member of the BST Group (other than Permitted Financial Indebtedness). 
 “Disposal” means a sale, lease, licence, transfer, loan or other disposal by a person of any asset, undertaking or business (whether by a voluntary or involuntary single transaction or series of transactions). 

“Disposal Proceeds” means the cash consideration receivable by any member of the BST Group (including any amount receivable in
repayment of intercompany debt) for any Disposal exceeding in aggregate EUR 1,000,000 in any Financial Year made by any member of the BST Group except for Excluded Disposal Proceeds and after deducting: 
  

	 	(i)	reasonable expenses incurred by any member of the BST Group with respect to that Disposal to persons who are not members of the BST Group; 

  

 61 

	 	(ii)	any Tax incurred and required to be paid by the seller in connection with that Disposal (as reasonably determined by the seller, on the basis of existing rates and taking account of
any available credit, deduction or allowance); and 

  

	 	(iii)	any amount required to be applied in prepaying any Financial Indebtedness (other than any amount outstanding under this Agreement) permitted under Clause 27.23 (Financial
Indebtedness) which is secured over the asset disposed of as permitted under Clause 27.15 (Negative pledge) to the extent that such Financial Indebtedness was not incurred prior to such disposal for the purpose of that disposal.

 “Equity Proceeds” means the net cash proceeds received from an Equity Issuance (other than Excluded Equity
Proceeds or proceeds received from any Additional Equity (as defined in paragraph (f)(vi)(A) of the definition of Permitted Acquisition) provided that such Additional Equity is committed to be utilised for a Permitted Acquisition within 10 Business
Days of the issuance of such Additional Equity and the Additional Equity so committed is applied strictly in accordance with the payment terms of the agreement documenting the Permitted Acquisition), where such Equity Issuance has not resulted in a
Change of Control. 
 “Excluded Acquisition Proceeds” means any cash proceeds of a Recovery Claim which are applied:

  

	 	(i)	to satisfy (or reimburse a member of the BST Group which has discharged) any liability, charge or claim upon a member of the BST Group by a person which is not a member of the BST
Group; or 

  

	 	(ii)	in the replacement, reinstatement and/or repair of assets of members of the BST Group which have been lost, destroyed or damaged, 

 in each case as a result of the events or circumstances giving rise to that Recovery Claim, if those proceeds are so applied as soon as possible (but in
any event within nine Months after receipt or such longer period as the Majority Lenders may agree. 
 “Excluded Disposal
Proceeds” means cash proceeds received from any Disposal permitted by paragraphs (a), (b), (d), (e), (f), (g), (h) and (l) of the definition of Permitted Disposals or the proceeds of any other Disposal which are applied within
nine Months of receipt in the purchase of replacement assets of the same or a similar type by the disposing member of the BST Group. 
 “Excluded Equity Proceeds” means cash proceeds received from any Equity Issuance permitted by paragraph (d) of the definition of Permitted Share Issue. 
 “Excluded Insurance Proceeds” means any cash proceeds of an insurance claim which are applied: 
  

	 	(i)	to meet a third party claim; or 

  

 62 

	 	(ii)	to the replacement, reinstatement and/or repair of the assets in respect of which the relevant insurance claim was made, 

 in each case as soon as possible (but in any event within nine Months) after receipt. 
 “Insurance Proceeds” means the cash proceeds of any insurance claim received by any member of the BST Group in any Financial Year which
when aggregated with the proceeds of all other insurance claims in that Financial Year exceed EUR 1,000,000 except for Excluded Insurance Proceeds and after deducting any reasonable expenses in relation to that claim which are incurred by any member
of the BST Group to persons who are not members of the BST Group. 
 “ITG Debt Proceeds” means the net proceeds of any
Financial Indebtedness incurred by ITG or any Holding Company of ITG (if such a Holding Company exists) or by any Holding Company of any member of the BST Group (other than another member of the BST Group). 
 The Parent shall ensure that the Borrowers prepay Loans in the following amounts at the times and in the order of application contemplated by Clause 12.3
(Application of mandatory prepayments): 
 the amount of Acquisition Proceeds; 
 the amount of Disposal Proceeds; 
 the amount
of Insurance Proceeds; 
 the amount equal to the Relative Commitment Factor as of such date multiplied by the amount of the Equity Proceeds
received from an Equity Issuance (other than an Excluded Equity Issuance) and after in the case of a Qualified Issuance (as defined in the ITG Note Purchase Agreement) deducting such amount not exceeding $7,500,000 as is required to be paid by ITG
by way of accrued interest under the ITG Notes by ITG or any Holding Company of ITG (if such a Holding Company exists) or by any Holding Company of any member of the BST Group (other than another member of the BST Group); 
 50% of the amount of the Equity Proceeds received from an Equity Issuance by any member of the BST Group or any Holding Company of any member of the BST
Group (other than ITG); 
 the amount equal to the Relative Commitment Factor as of such date multiplied by the amount of ITG Debt Proceeds;

 the amount of the BST Debt Proceeds; and 
 the amount equal to 75% of Excess Cashflow for any Financial Year of the Parent (or if Debt Cover for such Financial Year was less than 2.5:1, 50% of Excess Cashflow for such Financial Year). 
 For the avoidance of doubt, no Permitted Reorganisation Transaction shall give rise to any mandatory prepayment under Clause 12.2(b) above. 
  

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 Application of mandatory prepayments 
 Subject to Clause 12.3(e) below, a prepayment made under Clause 12.2 (Disposal, Insurance, Acquisition, Equity and Debt Proceeds and Excess Cashflow) shall be applied in the following order: 
 first, in prepayment of First Lien Facility Loans as contemplated in paragraphs (b) to (d) inclusive below; 
 second, in prepayment and cancellation of Revolving Facility Utilisations (such that outstanding Revolving Facility Loans shall be prepaid before
outstanding Letters of Credit) and of Revolving Facility Commitments; 
 third, in repayment and cancellation of the Ancillary Outstandings
and Ancillary Commitments; and 
 then, in prepayment of Second Lien Facility Loans. 
 Unless the Parent makes an election under paragraph (c) below, the Borrowers shall prepay the Term Loans at the following times: 
 in the case of any prepayment relating to the amounts of Acquisition Proceeds, Disposal Proceeds, Insurance Proceeds, Equity Proceeds or Debt Proceeds,
promptly upon receipt of those proceeds (or, if applicable, promptly after any amounts cease to be Excluded Disposal Proceeds, Excluded Acquisition Proceeds or Excluded Insurance Proceeds); and 
 in the case of any prepayment relating to an amount of Excess Cashflow, within 15 days of delivery pursuant to Clause 25.1 (Financial Statements)
of the annual consolidated accounts of the Parent for the relevant financial year. 
 Subject to paragraph (d) below, the Parent may
elect that any prepayment under Clause 12.2 (Disposal, Insurance, Acquisition and Debt Proceeds and Excess Cashflow) be applied in prepayment of a Loan on the last day of the Interest Period relating to that Loan. If the Parent makes that
election then a proportion of the Loan equal to the amount of the relevant prepayment will be due and payable on the last day of its Interest Period. 
 If the Parent has made an election under paragraph (c) above but a Default has occurred and is continuing, that election shall no longer apply and a proportion of the Loan in respect of which the election was
made equal to the amount of the relevant prepayment shall be immediately due and payable (unless the Majority Lenders otherwise agree in writing). 
 A prepayment made under Clause 12.2 (Disposal, Insurance, Acquisition, Equity and Debt Proceeds and Excess Cashflow) from Equity Proceeds shall be applied in the following order: 
 first, in prepayment of First Lien Facility Loans as contemplated in paragraphs (b) to (d) inclusive above; 
 second, in prepayment of Second Lien Facility Loans; 
  

 64 

	 	(iii)	third, in cancellation of Available Commitments under the Revolving Facility (and the Available Commitment of the Lenders under the Revolving Facility will be cancelled rateably);

  

	 	(iv)	fourth, in prepayment and cancellation of Revolving Facility Utilisations (such that outstanding Revolving Facility Loans shall be prepaid before outstanding Letters of Credit) and
of Revolving Facility Commitments; and 

  

	 	(v)	then, in repayment and cancellation of the Ancillary Outstandings and Ancillary Commitments. 

 Mandatory Prepayment Accounts and Holding Accounts 
 The Original Borrower shall ensure that: 
 Disposal Proceeds, Insurance Proceeds, Acquisition Proceeds, Equity Proceeds and Debt Proceeds in respect of which the Parent has made an election under
paragraph (c) of Clause 12.3 (Application of mandatory prepayments) are paid into a Mandatory Prepayment Account promptly upon receipt by a member of the BST Group; 
 Excluded Disposal Proceeds, Excluded Acquisition Proceeds and Excluded Insurance Proceeds are paid into a Holding Account promptly upon receipt by a
member of the BST Group; and 
 an amount equal to any Excess Cashflow in respect of which the Parent has made an election under paragraph
(c) of Clause 12.3 (Application of mandatory prepayments) is paid into a Mandatory Prepayment Account promptly after such election. 
 Each Obligor irrevocably authorises the Priority Agent until such time as there are no Priority Commitments outstanding whereupon the Second Lien Agent shall be irrevocably authorised to apply: 
 amounts credited to the Mandatory Prepayment Account; and 
 amounts credited to the Holding Account that cease to be Excluded Disposal Proceeds, Excluded Acquisition Proceeds or Excluded Insurance Proceeds, 
 to pay amounts due and payable under Clause 12.3 (Application of mandatory prepayments) and otherwise under the Finance Documents. The Obligors
further irrevocably authorise the Priority Agent until such time as there are no Priority Commitments outstanding whereupon the Second Lien Agent shall be irrevocably authorised to so apply amounts credited to the Holding Account whether or not such
proceeds cease to be Excluded Disposal Proceeds, Excluded Acquisition Proceeds or Excluded Insurance Proceeds if a Default has occurred and is continuing. The Obligors also irrevocably authorise the Agent to transfer any amounts credited to the
Holding Account referred to in this paragraph (b) to the Mandatory Prepayment Account pending payment of amounts due and payable under the Finance Documents (but if all such amounts have been paid any such amounts remaining credited to the
Mandatory Prepayment Account may (unless a Default has occurred) be transferred back to the Holding Account). 
 A Lender, Security Agent or
Agent with which a Mandatory Prepayment Account or Holding Account is held acknowledges and agrees that (i) interest shall accrue at normal commercial rates on amounts credited to those Accounts and that the account holder 

  

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shall be entitled to receive such interest (which shall be paid in accordance with the mandate relating to such account) unless a Default is continuing and
(ii) each such Account is subject to the Transaction Security. 
 Excluded proceeds 
 Where Excluded Acquisition Proceeds, Excluded Disposal Proceeds and Excluded Insurance Proceeds include amounts which are intended to be used for a specific purpose within a specified period (as set out in the
relevant definition of Excluded Acquisition Proceeds, Excluded Disposal Proceeds or Excluded Insurance Proceeds), the Original Borrower shall ensure that those amounts are used for that purpose and shall promptly deliver a certificate to the Agents
at the time of such application and at the end of such period confirming the amount (if any) which has been so applied within the requisite time periods provided for in the relevant definition. 
 ITG Subordinated Loan Proceeds 
 The Parent shall and shall
procure that each Borrower applies the proceeds of the ITG Subordinated Loan in prepayment of outstanding Revolving Facility Loans on each date on which a Revolving Facility Loan is due for repayment under the terms of this Agreement until all such
proceeds have been so prepaid. 
 The Total Revolving Facility Commitments shall be permanently cancelled in an amount equal to the Base
Currency equivalent of US$15,000,000. 
 RESTRICTIONS 
 Notices of Cancellation or Prepayment 
 Any notice of cancellation or prepayment given by any Party under Clause 11 (Illegality, voluntary
prepayment and cancellation) or Clause 12 (Mandatory prepayment) shall be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be
made and the amount of that cancellation or prepayment. 
 Interest and other amounts 
 Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs and Clause 17.4 (Second Lien Facility Prepayment Fee), without premium or
penalty. 
 No reborrowing of Term Facilities 
 No Borrower may
reborrow any part of any Term Facility which is prepaid. 
 Reborrowing of Revolving Facility 
 No Borrower may utilise any part of the Revolving Facility commitments which have been cancelled in accordance with Clause 12.6(b) (ITG Subordinated
Loan Proceeds). 
 Unless a contrary indication appears in this Agreement and subject to paragraph (a), any part of the Revolving Facility
which is prepaid may be reborrowed in accordance with the terms of this Agreement. 
 Prepayment in accordance with Agreement 
 No Borrower shall repay or prepay all or any part of the Loans or cancel all or any part of the Commitments except at the times and in the manner expressly provided for
in this Agreement. 
  

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 No reinstatement of Commitments 
 No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated. 
 Agent’s receipt of Notices 
 If an Agent receives a notice under Clause 11 (Illegality, voluntary prepayment and cancellation) or Clause 12 (Mandatory prepayment) it shall promptly
forward a copy of that notice to either the Original Borrower or the affected Lender, as appropriate. 
 Prepayment elections 
 The Agents shall notify the Lenders as soon as possible of any proposed prepayment of any Term Loan under Clause 11.4 (Voluntary prepayment of Term Loans) or
12.2 (Disposal, Insurance, Acquisition , Equity and Debt Proceeds and Excess Cashflow). 
  

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 SECTION 5 
 COSTS OF UTILISATION 
 INTEREST 
 Calculation of interest 
 Subject to paragraphs (b) and (c), the rate of interest on each Loan for each
Interest Period is the percentage rate per annum which is the aggregate of the applicable: 
 Margin; 
 in the case of Second Lien Facility Loans only, PIK Margin; 
 EURIBOR (in the case of a Loan denominated in Euro) or LIBOR (in the case of a Loan denominated in an Optional Currency); and 
 Mandatory Cost, if any. 
 If Debt Cover in respect of the most recently completed Relevant Period is within a
range set out below (as certified in a Compliance Certificate from the Parent in respect of such Relevant Period), then the Margin for each First Lien Facility Loan, Revolving Facility Loan and Second Lien Facility Loan will be the percentage per
annum set out below in the column for that Facility opposite that range: 
  

					
	 Debt Cover
	  	First Lien Facility Loan
Revolving Facility Loan
Margin
% p.a.	  	Second Lien Facility Loan
Margin
% p.a.
	Greater than or equal to 3.5: 1.00	  	5.5	  	9.0
	Less than 3.5: 1.00 but greater than or equal to 3.0: 1.00	  	5.0	  	8.5
	Less than 3.0: 1.00	  	4.5	  	8.0

 However: 
 any increase or decrease in the Margin for a Loan shall take effect on the date (the “reset date”) which is the first day of the next Interest Period for that Loan following receipt by the Agent of the
Compliance Certificate for that Relevant Period pursuant to Clause 26.3 (Financial testing); 
  

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 if, following receipt by the Agent of the annual audited financial statements of the BST Group and
related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then each Margin shall revert to the level based on the Debt Cover as demonstrated by those statements and in accordance with
paragraph (b) above; 
 while a Default is continuing each Margin shall revert to the level applying on the date of the Amendment
Agreement; and 
 for the purpose of determining a Margin, Debt Cover and Relevant Period shall be determined in accordance with Clause 26.1
(Financial definitions). 
 Payment of interest 
 Subject to paragraphs (b) and (c), the Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling
at six Monthly intervals after the first day of the Interest Period). 
 Interest comprised of PIK Margin shall accrue on Second Lien Facility
Loans on a daily basis and shall be compounded with the principal amount of the applicable Second Lien Facility Loan on the last Business Day of each successive six month period commencing on the Effective Date. 
  

	 	(c)	The relevant Borrower must repay all accrued interest comprised of PIK Margin on the Termination Date together with the Second Lien Facility Loans. 

 Default interest 
 If an Obligor fails to pay any amount
payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per
cent. higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the
relevant Agent (acting reasonably). Any interest accruing under this Clause 14.3 shall be immediately payable by the Obligor on demand by the Agents. 
 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: 
 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that
Loan; and 
 the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. higher than the rate
which would have applied if the overdue amount had not become due. 
 Default interest (if unpaid) arising on an overdue amount will be
compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable. 
  

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 Notification of rates of interest 
 The relevant Agent shall promptly notify the Lenders and the relevant Borrower of the determination of a rate of interest under this Agreement. 
 INTEREST PERIODS 
 Selection of Interest Periods and Terms 
 A Borrower (or the Parent on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a Term Loan and has already been borrowed) in a Selection Notice.

 Each Selection Notice for a Term Loan is irrevocable and must be delivered to the relevant Agent by the Borrower (or the Parent on behalf
of the Borrower) not later than the Specified Time. 
 If a Borrower (or the Parent) fails to deliver a Selection Notice to the relevant Agent
in accordance with paragraph (b) above, the relevant Interest Period will be one Month. 
 Subject to this Clause 15.1, a Borrower (or
the Parent) may select an Interest Period of one, two, three or six Months or any other period agreed between the Parent and the Agent (acting on the instructions of all the Lenders). 
 An Interest Period for a Loan shall not extend beyond the Termination Date. 
 Each Interest Period for a Term Facility Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period. 
 A Revolving Facility Loan has one Interest Period only. 
 Prior to the Syndication Date, Interest Periods shall be one month (or such other period as the Mandated Lead Arrangers may determine in consultation with the Parent in order to assist syndication) and any Interest
Period which would otherwise end during the month preceding or extend beyond the Syndication Date shall end on the Syndication Date. 
 In
order to avoid the payment of Break Costs that may be incurred in connection with a prepayment contemplated by the terms of Clause 12.6 (ITG Subordinated Loan Proceeds) and until the date that all of the proceeds of the ITG Subordinated Loan
have been so applied, the Parent or the Borrower may select an Interest Period for the Revolving Facility Loans of less than one Month in respect of the Interest Periods falling after the current Interest Periods to ensure that the date of
prepayment is at the end of an Interest Period in an amount at least equal to the amount. 
 Non-Business Days 
 If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if
there is one) or the preceding Business Day (if there is not). 
 Consolidation of Term Loans 
 If two or more Interest Periods: 
 relate to First Lien Facility Loans or Second Lien Facility Loans, as the
case may be; and end on the same date, 
  

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 those First Lien Facility Loans or Second Lien Facility Loans (as the case may be) will, unless that Borrower (or the
Parent on its behalf) specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single First Lien Facility Loan or Second Lien Facility Loan (as the case may be) on the last day of the
Interest Period. 
 CHANGES TO THE CALCULATION OF INTEREST 
 Absence of quotations 
 Subject to Clause 16.2 (Market disruption), if EURIBOR or LIBOR (as the case may be) is to be determined by reference
to the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable EURIBOR or LIBOR (as the case may be) shall be determined on the basis of the quotations of the remaining Reference
Banks. 
 Market disruption 
 If a Market
Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each Lender’s share of that Loan for the Interest Period shall be the rate per annum which is the sum of: 
 the Margin; 
 the rate notified to the
relevant Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its
participation in that Loan from whatever source it may reasonably select; and 
 the Mandatory Cost, if any, applicable to that Lender’s
participation in the Loan. 
 In this Agreement “Market Disruption Event” means: 
 at or about noon on the Quotation Day for the relevant Interest Period the Screen Rate is not available and none or only one of the Reference Banks
supplies a rate to the Agent to determine EURIBOR or LIBOR (as the case may be) for the relevant currency and Interest Period; or 
 before
close of business in London on the Quotation Day for the relevant Interest Period, the relevant Agent receives notifications from a Lender or Lenders (whose participations in a Loan exceed 35 per cent. of that Loan) that the cost to it of
obtaining matching deposits in the Relevant Interbank Market would be in excess of EURIBOR or LIBOR (as the case may be). 
 Alternative basis of interest or
funding 
 If a Market Disruption Event occurs and the Agent or the Parent so requires, the Agent and the Parent shall enter into negotiations
(for a period of not more than 30 days) with a view to agreeing a substitute basis for determining the rate of interest. 
 Any alternative
basis agreed pursuant to paragraph (a) above shall, with the prior consent of all the Lenders and the Parent, be binding on all Parties. 
  

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 Break Costs 
 Each Borrower shall, within three Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other than the last day of
an Interest Period for that Loan or Unpaid Sum. 
 Each Lender shall, as soon as reasonably practicable after a demand by the Agent, provide a
certificate confirming the amount of its Break Costs for any Interest Period in which they accrue. 
 FEES 
 Commitment fee 
 The Parent shall pay to the Priority Agent (for the account
of each Lender under the Revolving Facility) a fee in the Base Currency computed on a day-to-day basis at the rate of 0.50 per cent. per annum on that Lender’s Available Commitment under the Revolving Facility for the Availability Period.
The accrued commitment fee is payable on the last date of each successive period of three months which ends during the Availability Period, on the last day of the Availability Period and on the cancelled amount of the relevant Lender’s
Commitment at the time the cancellation is effective. 
 Arrangement fee 
 The Parent shall pay (or cause to be paid) to the Mandated Lead Arranger an arrangement fee in the amount and at the times agreed in the Parent Fee Letter. 
 Agency fee 
 The Parent shall pay (or cause to be paid) to the Priority Agent (for its own account) and the Second Lien Agent
(for its own account) an agency fee in the amount and at the times agreed in the Parent Fee Letter. 
 Second Lien Facility Prepayment Fee 
 If all or any part of any Second Lien Facility Loan is voluntarily prepaid (other than pursuant to Clause 11.1 (Illegality) or 11.2 (Illegality in relation to
Issuing Bank) or Clause 11.6 (Right of cancellation and repayment in relation to a single Lender or Issuing Bank)) on or before 1 August 2008 any such prepayment may only be made if in addition to all other sums required to be paid
under this Agreement in connection with such prepayment the relevant Borrower pays to the Second Lien Agent (for the account of the Second Lien Facility Lenders pro rata to their Second Lien Facility Commitments at the time of prepayment) at the
time of such prepayment a prepayment premium equal to 1 per cent. of the principal amount to be prepaid (if such prepayment occurs up to (and including) 1 August 2008. 
 Interest, commission and fees on Ancillary Facilities 
 The rate and time of payment of interest, commission, fees and any
other remuneration in respect of each Ancillary Facility shall be determined by agreement between the relevant Ancillary Lender and the Borrower of that Ancillary Facility based upon normal market rates and terms. 
  

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 SECTION 6 
 ADDITIONAL PAYMENT OBLIGATIONS 
 TAX GROSS UP AND INDEMNITIES 
 Definitions 
 In this Agreement: 
 “Excluded Tax” has the meaning specified in Clause 18.3(b) of this Agreement. 
 “Protected Party” means a Finance Party which is or will be subject to any liability or required to make any payment for or on account of Tax other than Excluded Tax in relation to a sum received or
receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document. 
 “Qualifying Lender” means
in respect of a jurisdiction: 
 a Lender that is entitled under the provisions of a double taxation treaty to receive payments of interest
from a person resident in such a jurisdiction without a Tax Deduction (whether or not such entitlement depends on the prior completion of any reasonable procedural formalities); or 
 a Lender which is able under the domestic law of the Borrower’s jurisdiction to receive source interest of that jurisdiction free of a Tax Deduction
(if any) imposed by that jurisdiction. 
 (For the avoidance of doubt, a Lender having qualified as Qualifying Lender upon entering into this agreement or
upon transfer of the relevant Commitments to it, shall not cease to be a Qualifying Lender solely by change of the German domestic tax law.) 
 “Tax
Credit” means a credit against, relief or remission for, or repayment of, any Tax. 
 “Tax Deduction” means a deduction or
withholding for or on account of Tax (other than Excluded Tax) from a payment under a Finance Document. 
 “Tax Payment” means either the
increase in a payment made by an Obligor to a Finance Party under Clause 18.2 (Tax gross-up) or a payment under Clause 18.3 (Tax indemnity). 
 Unless a contrary indication appears, in this Clause 18 a reference to “determines” or “determined” means a determination made in the absolute discretion of the person making the determination. 

Tax gross-up 
 All payments to be made by or on behalf of
each Obligor shall be made without any Tax Deduction, unless a Tax Deduction is required by law. 
 Each Borrower shall promptly upon becoming
aware that an Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the relevant Agent accordingly. Similarly, a Lender shall notify the relevant Agent on becoming so aware in respect of a
payment payable to that Lender. If the Agent receives such notification from a Lender it shall notify the relevant Borrower and that Obligor. 
  

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 If a Tax Deduction is required by law to be made by or on behalf of an Obligor, the amount of the payment
due from that Obligor shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 
 With respect to any Loan other than a U.S. Loan, an Obligor is not required to make an increased payment to a Lender under paragraph (c) above if on
the date on which the payment falls due: 
 the payment could have been made to the relevant Lender without a Tax Deduction if it was a
Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application
of) any law or double taxation treaty, or any published practice or concession of any relevant taxing authority; or 
 the relevant Lender is
a Qualifying Lender and the Obligor making the payment is able to demonstrate that the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under paragraph (h) below. 
 With respect to a payment of interest on a U.S. Loan, a U.S. Obligor is not required to make an increased payment under paragraph (c) above in
respect of: 
 any U.S. withholding taxes imposed on amounts payable to any Lender at the time such Lender becomes a party to this Agreement,
except to the extent such Lender’s assignor was entitled to receive an increased amount under paragraph (c) above; or 
 any U.S.
withholding taxes that would not have been imposed but for the failure to comply with Clause 18.2(i). 
 If an Obligor (or any other person
making payment on behalf of an Obligor) is required to make a Tax Deduction, that Obligor shall make (or cause to be made) that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum
amount required by law. 
 Within thirty days of making either a Tax Deduction or any payment required in connection with that Tax Deduction,
the Obligor making (or causing to be made) that Tax Deduction shall deliver to the relevant Agent for the Finance Party entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as
applicable) any appropriate payment paid to the relevant taxing authority. 
 A Qualifying Lender, if requested in writing by the relevant
Borrower, is obliged to procure and shall deliver after completion of any procedural formalities necessary for the Obligor which makes the payment to this Qualifying Lender the documents required for the Obligor to obtain authorisation to make that
payment without a Tax Deduction. A Qualifying Lender and each Obligor which makes a payment to which that Qualifying Lender is entitled shall co-operate in completing any procedural formalities necessary for that Obligor to obtain authorisation to
make that payment without a Tax Deduction. 
 Each Lender of a U.S. Loan that is not a United States person for purposes of U.S. federal
income tax shall deliver to each U.S. Borrower and the relevant Agent two copies of 

  

 74 

 
either U.S. Internal Revenue Service Form W-8BEN, Form W-8ECI or Form W-8IMY (together with any required attachments), or in the case of such Lender claiming
the “portfolio interest exemption,” a statement certifying that it is not a bank, a “10 percent shareholder” of a U.S. Borrower or a “controlled foreign corporation” receiving interest from a related person, together
with a Form W-8BEN, in each case, properly filled out to claim complete exemption from, or a reduced rate of, U.S. federal withholding tax. Each Lender of a U.S. Loan that is a United States person shall deliver to each U.S. Obligor and the relevant
Agent two copies of Form W-9. Such forms shall be delivered by each relevant Lender on or before such Lender becomes a party to this Agreement. Each relevant Lender shall update such forms as appropriate and promptly notify each U.S. Borrower and
the Agent if it is no longer in a position to provide a form it previously delivered. Notwithstanding anything to the contrary, a Lender shall not be required to deliver any form or certificate such Lender is not legally able to deliver. 

Tax indemnity 
 Each Borrower shall (within three Business
Days of demand by the relevant Agent or a Lender) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of Tax by that
Protected Party in respect of a Finance Document. 
 Paragraph (a) above shall not apply: 
 with respect to any Tax (an “Excluded Tax”) assessed on a Finance Party: 
 under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance
Party is treated as resident for tax purposes; or 
 under the law of the jurisdiction in which that Finance Party’s Facility Office is
located in respect of amounts received or receivable in that jurisdiction; 
 if that Tax is imposed on or calculated by reference to the net
income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or 
 to the extent a loss,
liability or cost: 
 is compensated for by an increased payment under Clause 18.2 (Tax gross-up); or 
 would have been compensated for by an increased payment under Clause 18.2 (Tax gross-up) but was not so compensated solely because one of the
exclusions in paragraph (d) of Clause 18.2 (Tax gross-up) applied; or 
 with respect to U.S. withholding taxes for which a U.S.
Obligor is not required to pay increased payments under Clause 18.2(e). 
 A Protected Party making, or intending to make a claim under
paragraph (a) above shall promptly notify the relevant Agent of the event which will give, or has given, rise to the claim, following which the relevant Agent shall notify the Original Borrower. 
  

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 A Protected Party shall, on receiving a payment from an Obligor under this Clause 18.3, notify the Agent.

 Tax Credit 
 If an Obligor makes a Tax Payment and the
relevant Finance Party determines that: 
 a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part or
to that Tax Payment; and 
 that Finance Party has obtained, utilised and retained that Tax Credit, 
 the Finance Party shall pay an amount to the Obligor which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would
have been in had the Tax Payment not been required to be made by the Obligor. 
 Stamp taxes 
 The Original Borrower shall pay and, within three Business Days of demand, indemnify each Secured Party and Mandated Lead Arranger against any cost, loss or liability that Secured Party or Mandated Lead Arranger
incurs in relation to all stamp duty, registration and other similar Taxes payable in respect of any Finance Document. 
 Value added tax 
 All amounts set out, or expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or in part) constitute the
consideration for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply, and accordingly, subject to paragraph (c) below, if VAT is chargeable on any supply made by any Finance Party to any Party under a
Finance Document, that Party shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT (and such Finance Party shall promptly provide an appropriate VAT invoice to such
Party). 
 If VAT is chargeable on any supply made by any Finance Party (the “Supplier”) to any other Finance Party (the
“Recipient”) under a Finance Document, and any Party (the “Relevant Party”) is required by the terms of any Finance Document to pay an amount equal to the consideration for such supply to the Supplier (rather than
being required to reimburse the Recipient in respect of that consideration), such Party shall also pay to the Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such VAT. The Recipient will promptly
pay to the Relevant Party an amount equal to any credit or repayment from the relevant tax authority which it reasonably determines relates to the VAT chargeable on that supply. 
 Where a Finance Document requires any Party to reimburse a Finance Party for any costs or expenses, that Party shall also at the same time pay and
indemnify the Finance Party against all VAT incurred by the Finance Party in respect of the costs or expenses to the extent that the Finance Party reasonably determines that neither it nor any other member of any group of which it is a member for
VAT purposes is entitled to credit or repayment from the relevant tax authority in respect of the VAT. 
  

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 INCREASED COSTS 
 Increased costs 
 Subject to Clause 19.3 (Exceptions), the Original Borrower shall, within three Business Days of a demand by
the relevant Agent, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or any of its Affiliates as a result of (i) the introduction of or any change in (or in the interpretation,
administration or application of) any law or regulation or (ii) compliance with any law or regulation made after the date of this Agreement. 
 In this Agreement “Increased Costs” means: 
 a reduction in the rate of return from a Facility or on a Finance
Party’s (or its Affiliate’s) overall capital; 
 an additional or increased cost; or 
 a reduction of any amount due and payable under any Finance Document, 
 which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having entered into its Commitment or an Ancillary Commitment or funding or
performing its obligations under any Finance Document. 
 Increased cost claims 
 A Finance Party intending to make a claim pursuant to Clause 19.1 (Increased Costs) shall notify the Agent of the event giving rise to the claim, following which the Agent shall promptly notify the Original
Borrower. 
 Each Finance Party shall, as soon as practicable after a demand by the relevant Agent, provide a certificate confirming the
amount of its Increased Costs. 
 Exceptions 
 Clause 19.1 (Increased Costs) does not apply to the extent any Increased Cost is: 
 attributable to a Tax Deduction required
by law to be made by an Obligor; 
 compensated for by Clause 18.3 (Tax indemnity) (or would have been compensated for under Clause
18.3 (Tax indemnity) but was not so compensated solely because any of the exclusions in paragraph (b) of Clause 18.3 (Tax indemnity) applied); 
 compensated for by the payment of the Mandatory Cost; or 
 attributable to the wilful breach by the relevant
Finance Party or its Affiliates of any law or regulation. 
 In this Clause 19.3 reference to a “Tax Deduction” has the same
meaning given to the term in Clause 18.1 (Definitions). 
  

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 OTHER INDEMNITIES 
 Currency indemnity 
 If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment
or award given or made in relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of: 
 making or filing a claim or proof against that Obligor; or 
 obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings, 
 that Obligor shall as an independent obligation, within three Business Days of demand, indemnify each Secured Party to whom that Sum is due against any cost, loss or liability arising out of or as a result of the conversion including any
discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available to that person at the time of its receipt of that Sum. 
 Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency unit other than that
in which it is expressed to be payable. 
 Other indemnities 
 The Parent shall (or shall procure that an Obligor will), within three Business Days of demand, indemnify the Mandated Lead Arrangers and each other Secured Party against any cost, loss or liability incurred by it as
a result of: 
 the occurrence of any Event of Default; 
 a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without limitation, any cost, loss or liability arising as a result of Clause 33 (Sharing among the Finance
Parties); 
 funding, or making arrangements to fund, its participation in a Loan requested by a Borrower in a Utilisation Request but not
made by reason of the operation of any one or more of the provisions of this Agreement (other than by reason of default or negligence by that Finance Party alone); or 
 a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by a Borrower. 
 The Parent shall promptly indemnify each Finance Party, each Affiliate (that is connected with the Acquisition and the funding of the Acquisition) of a Finance Party and each officer or employee of a Finance Party or its Affiliate (that is
connected with the Acquisition and the funding of the Acquisition) (each an “Indemnified Party”), against any cost, loss or liability incurred by that Indemnified Party in connection with or arising out of the Acquisition or the
funding of the Acquisition (including but not limited to those incurred in connection with any litigation, arbitration or administrative proceedings or regulatory enquiry concerning the Acquisition), unless such loss or liability is caused by the
gross negligence or wilful misconduct of that Indemnified Party. Any Indemnified Party may rely on this Clause 20.2 subject to Clause 1.4 (Third party rights) and the provisions of the Third Parties Act. 
  

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 Indemnity to the Agent 
 The
Parent shall promptly indemnify the Agents against any cost, loss or liability incurred by an Agent (acting reasonably) as a result of: 
 investigating any event which it reasonably believes is a Default; 
 entering into or performing any foreign exchange contract for
the purposes of paragraph (b) of Clause 34.9 (Change of currency); or 
 acting or relying on any notice, request or instruction
which it reasonably believes to be genuine, correct and appropriately authorised. 
 Indemnity to the Security Agent 
 Each Obligor shall promptly indemnify each Security Agent and every Receiver and Delegate against any cost, loss or liability incurred by any of them as a
result of: 
 the taking, holding, protection or enforcement of the Transaction Security, 
 the exercise of any of the rights, powers, discretions and remedies vested in the Security Agent and each Receiver and Delegate by the Finance Documents
or by law; and 
 any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance
Documents. 
 Subject to the Intercreditor Deed each Security Agent may, in priority to any payment to the Secured Parties, indemnify itself
out of the Charged Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this Clause 20.4 and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security
for all monies payable to it. 
 Environmental indemnity 
 Each
Obligor shall promptly indemnify each Security Agent, every Receiver and Delegate and each other Secured Party against any cost, loss or liability incurred by any of them in connection with any litigation, arbitration, administrative proceedings or
regulatory enquiry resulting from: 
 any actual or alleged breach of any Environmental Law (whether by an Obligor, a Secured Party or any
other person); or 
 the release of, or exposure to, any Dangerous Substance stored or handled upon or transported from the past or present
facilities or operations of any Obligor or BST Group member, 
 and which would not have arisen if the Finance Documents or any of them had not been
executed. 
 MITIGATION BY THE FINANCE PARTIES 
 Mitigation 
 Subject to Clause 21.2 (Limitation of liability), each Finance Party shall, in consultation with the Parent,
take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant to, any of Clause 11.1 (Illegality), Clause 18 (Tax gross-up and
indemnities) 

  

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or Clause 19 (Increased Costs) or paragraph 3 of Schedule 4 (Mandatory Cost formula) including (but not limited to) transferring its
rights and obligations under the Finance Documents to another Affiliate or Facility Office. 
 Paragraph (a) above does not in any way
limit the obligations of any Obligor under the Finance Documents. 
 Limitation of liability 
 The Parent shall indemnify each Finance Party for all costs and expenses reasonably incurred by that Finance Party as a result of steps taken by it under
Clause 21.1 (Mitigation). 
 A Finance Party is not obliged to take any steps under Clause 21.1 (Mitigation) if, in the
opinion of that Finance Party (acting reasonably), to do so might be prejudicial to it. 
 Notwithstanding anything in this Agreement to the contrary, no
Finance Party shall be indemnified for any loss, cost or expense resulting from the gross negligence or wilful misconduct of such Finance Party. 
 COSTS
AND EXPENSES 
 Transaction expenses 
 The Parent shall
promptly on demand pay (or cause to be paid to) the Agent, the Mandated Lead Arranger and the Security Agent the amount of all costs and out-of-pocket expenses (including legal fees and all agreed third party expenses) reasonably incurred by any of
them (and, in the case of a Security Agent, by any Receiver or Delegate) in connection with the negotiation, preparation, printing, execution, syndication and perfection of: 
 this Agreement and any other documents referred to in this Agreement and the Transaction Security; and 
 any other Finance Documents executed after the date of this Agreement. 
 Amendment costs 
 If (a) an Obligor requests an amendment, waiver or consent or (b) an amendment is required
pursuant to Clause 34.9 (Change of currency), the Parent shall, within three Business Days of demand, reimburse (or cause to be paid to) each of the Agents and the Security Agent, as applicable, for the amount of all costs and expenses
(including legal fees) reasonably incurred by such Agent and such Security Agent (and, in the case of a Security Agent, by any Receiver or Delegate) in responding to, evaluating, negotiating or complying with that request or requirement. 

Enforcement and preservation costs 
 The Parent shall, within three
Business Days of demand, pay (or cause to be paid to) to the Mandated Lead Arranger and each other Secured Party the amount of all costs and expenses (including legal fees) incurred by it in connection with the enforcement of or the preservation of
any rights under any Finance Document and the Transaction Security. 
  

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 SECTION 7 
 GUARANTEE 
 GUARANTEE AND INDEMNITY 
 Guarantee and indemnity 
 Subject to Clauses 23.10 (Guarantee Limitations applicable to German Guarantors), 23.11
(Guarantee Limitations applicable to U.S. Obligors), 23.12 (Guarantee Limitations applicable to Czech Guarantors) and 23.13 (Guarantee Limitations applicable to Romanian Guarantors), each Guarantor irrevocably and
unconditionally, jointly and severally: 
 guarantees to each Finance Party due and punctual performance by each Borrower of all that
Borrower’s obligations under the Finance Documents; 
 undertakes with each Finance Party that whenever a Borrower does not pay any
amount when due under or in connection with any Finance Document, that Guarantor shall immediately on demand pay that amount as if it was the principal obligor; and 
 indemnifies each Finance Party immediately on demand against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal. The amount of
the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover. 
 Continuing Guarantee

 This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance Documents, regardless of
any intermediate payment or discharge in whole or in part. 
 Reinstatement 
 If any payment by an Obligor or any discharge given by a Finance Party (whether in respect of the obligations of any Obligor or any security for those obligations or otherwise) is avoided or reduced as a result of
insolvency or any similar event: 
 the liability of each Obligor shall continue as if the payment, discharge, avoidance or reduction had not
occurred; and 
 each Finance Party shall be entitled to recover the value or amount of that security or payment from each Obligor, as if the
payment, discharge, avoidance or reduction had not occurred. 
 Waiver of defences 
 The obligations of each Guarantor under this Clause 23 will not be affected by an act, omission, matter or thing which, but for this Clause 23, would reduce, release or prejudice any of its obligations under this
Clause 23 (without limitation and whether or not known to it or any Finance Party other than any payment in whole or in part and any obligations of the Borrowers) including: 
 any time, waiver or consent granted to, or composition with, any Obligor or other person; 
  

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 the release of any other Obligor or any other person under the terms of any composition or arrangement
with any creditor of any member of the BST Group; 
 the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect
to perfect, take up or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the
full value of any security; 
 any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or
status of an Obligor or any other person; 
 any amendment (however fundamental) or replacement of a Finance Document or any other document or
security; 
 any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document
or security; or 
 any insolvency or similar proceedings. 
 Immediate recourse 
 Each Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or
agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this Clause 23. This waiver applies irrespective of any law or any provision of a Finance
Document to the contrary. 
 Appropriations 
 Until all amounts
which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may: 
 refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party (or any trustee or agent on its behalf) in
respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and 
 hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Clause 23.

 Deferral of Guarantors’ rights 
 Until all amounts which
may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, no Guarantor will exercise any rights which it may have by reason of performance by
it of its obligations under the Finance Documents: 
 to be indemnified by an Obligor or any other person; 
 to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance Documents; and/or 
  

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 to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of
the Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party. 
 Release of Guarantors’ right of contribution 
 If any Guarantor (a “Retiring Guarantor”) ceases to be a
Guarantor in accordance with the terms of the Finance Documents for the purpose of any sale or other disposal of that Retiring Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
 that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future and whether actual or contingent) to make
a contribution to any other Guarantor arising by reason of the performance by any other Guarantor of its obligations under the Finance Documents; and 
 each other Guarantor waives any rights it may have by reason of the performance of its obligations under the Finance Documents to take the benefit (in whole or in part and whether by way of subrogation or otherwise)
of any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance Document where such rights or security are granted by or in relation to the assets of the Retiring
Guarantor. 
 Additional security 
 This guarantee is in addition
to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party. 
 Guarantee Limitations applicable to
German Guarantors 
 To the extent that (i) the obligations of any Guarantor under this Clause 23 relate to obligations of an affiliated
company (other than a Subsidiary) of such Guarantor and (ii) such Guarantor is organised in the form of a German limited liability company (Gesellschaft mit beschränkter Haftung) or a German limited partnership
(Kommanditgesellschaft) whose general partner is a German limited liability company (an “Affected German Guarantor”), the enforcement of such obligations shall be limited insofar and to the extent that the enforcement of such
obligations (i) reduces the Affected German Guarantor’s Net Assets (Nettovermögen) (as defined below) to an amount less than its stated share capital (Stammkapital) or (ii) (if its Net Assets (i) are already an
amount less than its stated share capital (Stammkapital)) causes its Net Assets (Nettovermögen) to be further reduced and thereby affect the Affected German Guarantor’s assets required for the preservation of its stated share
capital (Stammkapital) according to sections 30 and 31 of the German Act for Limited Liability Companies (GmbH-Gesetz). The value of the Net Assets shall be determined in accordance with Accounting Principles consistently applied by the
Affected German Guarantor in preparing its unconsolidated balance sheets (Jahres-abschluss) pursuant to sections 42 GmbH-Gesetz in connection with 242, 264 of the German Commercial Code (HGB) in previous years. 
 For the avoidance of doubt, the enforcement limitation defence (Einrede) under paragraph (a) of this Clause 23.10 is (i) for the benefit
of the respective Affected German Guarantor only (and, if the Affected German Guarantor is a German limited partnership, for the benefit of its general partner) and not for the benefit of any third party (including without limitation Affiliates of
such Affected German Guarantor) and (ii) does not limit the amount owed by the respective Affected German Guarantor under this 

  

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Clause 23 on the due date thereof (including without limitation in connection with the enforcement of any security provided by Affiliates or other third
parties for the obligations of a Affected German Guarantor under this Clause 23). 
 For the purposes of the limitation of the enforcement of
the obligations of a Affected German Guarantor under paragraph (a) above the following balance sheet items shall be adjusted as follows: 
 the amount of any increase of the Affected German Guarantor’s stated share capital (Stammkapital) (or, if the Affected German Guarantor is a German limited partnership, the stated share capital of its general partner) effected
in violation of the Finance Documents shall be deducted from the stated share capital (Stammkapital); and 
 loans and other
contractual liabilities incurred in violation of the provisions of the Finance Documents by such Affected German Guarantor shall be disregarded. 
 The Affected German Guarantor (and, if the Affected German Guarantor is a German limited partnership, its general partner) shall, if and to the extent legally permitted and commercially justifiable in respect of its business, in situations
where: 
 it does not have sufficient assets to avoid the effects described in paragraph (a) above; and 
 the Finance Parties would (but for this Clause 23.10) be entitled to enforce the guarantee granted hereunder and have, on such basis, requested payment by
such Affected German Guarantor under the guarantee granted hereunder, 
 realise, to the extent required to enable such Affected German
Guarantor to make the requested payment, any and all of the assets that are shown in the balance sheet of the Affected German Guarantor with a book value (Buchwert) which is lower than the market value of such assets, and are not necessary
(betriebsnotwendig) for the Affected German Guarantor’s business. 
 Notwithstanding the above, the provisions of paragraph
(a) shall not apply: 
 to any amounts due and payable under this guarantee and indemnity under this Clause 23 relating to funds made
available under the Finance Documents which (1) have been made available by the Original Borrower or another member of the BST Group to the Affected German Guarantor or its Subsidiaries (and/or if the Affected German Guarantor is a limited
partnership, to its general partner or the general partners’ Subsidiaries) in any form (including, without limitation, by way of on-lending under an intercompany-loan (weitergeleitetes Gesellschafter Darlehen), a capital infusion or
otherwise, including but not limited, the capital contribution of EUR 60,000,000 into the reserves of BST Textiles indirectly made by the Original Borrower); 
 if and to the extent that the Affected German Guarantor is legally and commercially in a position to take reasonable measures (including, without limitation, set-off claims) to avoid that the enforcement causes its
Net Assets (Nettovermögen) to be reduced below the amount of its stated share capital (Stammkapital) which is protected by the German Act for Limited Liability Companies (GmbH-Gesetz); or the Affected German Guarantor and
any Borrower have entered into a domination or profit and loss sharing agreement. 
  

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 For the purposes of this Clause 23.10, Net Assets (Nettovermögen) shall mean assets pursuant to
section 266(2) (A), (B) and (C) of the German Commercial Code (HGB—Handelsgesetzbuch) less the sum of liabilities pursuant to section 266(3) (B), (C) and (D) thereof. 
 Guarantee Limitations applicable to U.S. Obligors 
 The U.S.
Obligors desire to allocate among themselves (collectively, the “Contributing Guarantors” and each a “U.S. Guarantor”), in a fair and equitable manner, their obligations arising under this Clause 23. 
 Accordingly, in the event any payment or distribution is made on any date by a U.S. Guarantor (a “Funding Guarantor”) under this Clause
23 such that its Aggregate Payments (as defined below) exceeds its Fair Share (as defined below) as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in an amount sufficient to
cause each Contributing Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio
of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid
or distributed on or before such date by all Funding Guarantors under this Clause 23 in respect of the obligations guaranteed. “Fair Share Contribution Amount” means, with respect to a Contributing Guarantor as of any date of
determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Clause 23 that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance under
Section 548 of the U.S. Bankruptcy Code or any applicable provisions of comparable law of one or more of the states comprising the United States of America or the District of Columbia; provided, solely for purposes of calculating the
“Fair Share Contribution Amount” with respect to any Contributing Guarantor for purposes of this Clause 23.11, any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation, reimbursement or
indemnification or any rights to or obligations of contribution hereunder shall not be considered as assets or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of
any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Clause 23 (including, without limitation, in respect of this
Clause 23.11 ), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Clause 23.11. The amounts payable as contributions
hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Clause 23.11 shall not be
construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Contributing Guarantor is a third party beneficiary to the contribution agreement set forth in this Clause 23.11. 
 Notwithstanding any other provision of any Finance Document to the contrary: 
 the property and assets of a Controlled Foreign Corporation that is a Subsidiary of ASCI as at the Realignment Completion Date shall not constitute collateral or 

  

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security for any obligations of ASCI or any U.S. Borrower that is a Subsidiary of ASCI as at the Realignment Completion Date under any Finance Document; and

 no Controlled Foreign Corporation that is a Subsidiary of ASCI as at the Realignment Completion Date will be liable directly or indirectly
for any obligation of ASCI or any U.S. Borrower that is a Subsidiary of ASCI as at the Realignment Completion Date under any Finance Document. 
 Guarantee
Limitations applicable to Czech Guarantors 
 The obligations of any Guarantor constituted under the laws of the Czech Republic (a “Czech
Guarantor”) under this Clause 23 (Guarantee and Indemnity) shall not include any obligation to secure the payment of an amount where such obligation would be contrary to Section 161e and/or 161f (respectively section 120) of the
Czech Act No. 513/1991 Coll., the Commercial Code, as amended (Obchodní zákoník, v platném znění) (i.e. contrary to the Czech financial assistance rules), in particular (but not limited to) with
respect to amounts relating to the acquisition of a business share (obchodní podíl) in a Czech Guarantor. 
 Guarantee Limitations
applicable to Romanian Guarantors 
 The obligations of any Guarantor constituted under the laws of Romania (a “Romanian Guarantor”) under
this Clause 23 shall: 
 not include any liability which would constitute (1) the provision of financial assistance as defined by Article
106 paragraph (1) of the Romanian Company Law no. 31/1990 (as further amended and restated) or (2) which would give rise to misuse of corporate assets or to personal liability for the founders (i.e., signatories of the constitutive act of
a Romanian Guarantor), directors, executive directors, managers or representatives of any Romanian Guarantors, as contemplated under Article 272 paragraph (2) and paragraph (3) of the Romanian Company Law no. 31/1990); and 
 be limited to the aggregate of amounts which would ensure the compliance of a Romanian Guarantor with the legal requirements relating to corporate
benefit. 
 Distinct Guarantees 
 It is understood and agreed
that in respect of the obligations under the Priority Facilities and the obligations under the Second Lien Facility two distinct guarantees are created.
  

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 SECTION 8 
 REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT 
 REPRESENTATIONS 
 General 
 Each Obligor makes the representations and
warranties set out in this Clause 24 to each Finance Party on the dates set out in Clause 24.30 (Times when representations made) provided that references herein to “its Subsidiaries” shall not include any Subsidiary of the
Parent which is not a member of the BST Group. 
 In relation to the representations and warranties made on (but not before) the Closing Date,
it is assumed that Completion has occurred. 
 Status 
 It and each of its Subsidiaries is a limited liability corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation. 
 It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted. 
 Binding obligations 
 Subject to the Legal Reservations: 
 the obligations expressed to be assumed by it in each Transaction Document to which it is a party are legal, valid, binding and enforceable obligations; and 
 subject further to completion of applicable perfection requirements (without limiting the generality of paragraph (a) above), each Transaction
Security Document to which it is a party creates the security interests which that Transaction Security Document purports to create and those security interests are valid, effective and enforceable. 
 Non-conflict with other obligations 
 The entry into and performance by it
of, and the transactions contemplated by, the Transaction Documents and the granting of the Transaction Security do not and will not conflict with: 
 any law or regulation applicable to it or any Material Company; 
 the constitutional documents of any Material Company; or

 any agreement or instrument binding upon it or any Material Company or any of its or any Material Company’s assets save where such
conflict could not reasonably be expected to cause a Material Adverse Effect; and 
  

	 	(d)	prior to an entity becoming a Czech Guarantor, the requirements of Section 196a of the Czech Commercial Code have been duly fulfilled, i.e., in particular (but not limited to),
the expert opinion anticipated therein has been elaborated. 

  

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 Power and authority 
 It has the power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the Transaction Documents to which it is or will be a party and the transactions contemplated
by those Transaction Documents. 
 No limit on its powers will be exceeded as a result of the borrowing, grant of security or giving of
guarantees or indemnities contemplated by the Transaction Documents to which it is a party. 
 The execution by each Obligor of the
Transaction Documents to which it is a party constitutes, and its exercise of its rights and performance of its obligations hereunder and thereunder with constitute, private and commercial acts done and performed for private and commercial purposes.

 Validity and admissibility in evidence 
 All
Authorisations required: 
 to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Transaction
Documents to which it is a party; and 
 subject to the Legal Reservations and completion of applicable perfection requirements to make the
Transaction Documents to which it is a party admissible in evidence in its Relevant Jurisdictions, 
 have been obtained or effected and are
in full force and effect. 
 All Authorisations necessary for the conduct of the business, trade and ordinary activities of members of the BST
Group have been obtained or effected and are in full force and effect if failure to obtain or effect those Authorisations has or is reasonably likely to have a Material Adverse Effect. 
 Governing law and enforcement 
 Subject to the Legal Reservations, the choice of English law (or such other
law as specified) as the governing law of the Finance Documents will be recognised and enforced in its Relevant Jurisdictions. 
 Subject to
the Legal Reservations, any judgment obtained in England in relation to a Finance Document will be recognised and enforced in its Relevant Jurisdictions. 
 Insolvency 
 No: 
 corporate action,
legal proceeding or other procedure or step described in paragraph (a) of Clause 28.7 (Insolvency proceedings); or 
 creditors’ process described in Clause 28.9 (Creditors’ process), 
 has been taken or, to the knowledge of the Original Borrower,
threatened in relation to a Material Company; and none of the circumstances described in Clause 28.6 (Insolvency) applies to a Material Company. 
  

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 No filing or stamp taxes 
 Under the laws of its Relevant Jurisdictions it is not necessary that the Transaction Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration, notarial or similar Taxes
or fees be paid on or in relation to the Transaction Documents or the transactions contemplated by the Transaction Documents except any filing, recording or enrolling or any tax or fee payable in relation to any Transaction Security Document which
is referred to in any legal opinion delivered to the Agent under Clause 4.1 (Initial conditions precedent) or Clause 30 (Changes to the Obligors) and which will be made or paid promptly after the date of the relevant Finance Document.

 Deduction of Tax 
 It is not required to make any deduction
for or on account of Tax from any payment it may make under any Finance Document. 
 No default 
 No Event of Default and, on the date of this Agreement and the Closing Date, no Default is continuing or is reasonably likely to result from the making of
any Loan or the entry into, the performance of, or any transaction contemplated by, any Transaction Document. 
 No other event or
circumstance is outstanding which constitutes (or, with the expiry of a grace period, the giving of notice, the making of any determination or any combination of any of the foregoing, would constitute) a default or termination event (however
described) under any other agreement or instrument which is binding on it or any of its Subsidiaries or to which its (or any of its Subsidiaries’) assets are subject which has or is reasonably likely to have a Material Adverse Effect.

 No misleading information 
 Any factual
information contained in the Information Memorandum or the Information Package was true and accurate in all material respects as at the date of the relevant report or document containing the information or (as the case may be) as at the date the
information is expressed to be given. 
 The Business Plan and the Realignment Information Package have been prepared in accordance with the
Accounting Principles as applied to the Original Financial Statements, and the financial projections contained in the Business Plan and the Realignment Information Package have been prepared on the basis of recent historical information, based on
good faith estimates and on reasonable assumptions and have been approved by the board of directors of the Original Borrower or in the case of the Realignment Information Package, the Parent. 
 Any financial projection or forecast contained in the Information Memorandum or the Information Package has been prepared on the basis of recent
historical information, based on good faith estimates and on reasonable assumptions and arrived at after careful consideration. 
 The
expressions of opinion or intention provided by or on behalf of an Obligor for the purposes of the Information Memorandum or the Information Package were made after careful consideration and were fair and based on reasonable grounds. 
  

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 No material event or circumstance has occurred or arisen and no information has been omitted from the
Information Memorandum or the Information Package and no information has been given or withheld that results in the information, opinions, intentions, forecasts or projections contained in the Information Memorandum or the Information Package being
untrue or misleading in any material respect. 
 All material written information provided to a Finance Party by or on behalf of WLR Recovery
Fund III L.P., the Parent or the Original Borrower in connection with the Acquisition and/or the Target Group on or before the date of this Agreement and not superseded before that date (whether or not contained in the Information Package) is
accurate and not misleading in any material respect. 
 All projections provided to any Finance Party on or before the date of this Agreement
or, in connection with the Realignment Information Package, the Effective Date have been based on good faith estimates and assumptions which were reasonable at the time at which they were prepared and supplied. 
 All other material written information (other than projections) provided by any member of the BST Group (including its advisers) to a Finance Party or the
provider of any Report was true, complete and accurate in all material respects as at the date it was provided. 
 The representations and warranties made
with respect to the Reports are made by each Obligor in this Clause 24.12 only so far as it is aware after making due and careful enquiries. 
 Original
Financial Statements 
 Its Original Financial Statements were prepared in accordance with the Accounting Principles consistently applied.
However in the case of monthly and quarterly statements, normal year end adjustments were not made. 
 Its unaudited Original Financial
Statements fairly represent its financial condition and results of operations (consolidated in the case of Target) for the relevant month or financial quarter. 
 Its audited Original Financial Statements give a true and fair view of its financial condition and results of operations (consolidated in the case of Target) during the relevant financial year. 
 There has been no material adverse change in its assets, business or financial condition (or the assets, business or consolidated financial condition of
the BST Group, in the case of the Parent) since the date of the Original Financial Statements. 
 The Original Financial Statements of the
Target do not consolidate the results, assets or liabilities of any person or business which does not form part of the Target Group. 
 Its
most recent financial statements delivered pursuant to Clause 25.1 (Financial Statements): 
 have been prepared in accordance
with the Accounting Principles as applied to the Original Financial Statements and the Business Plan (save as consented to by the Priority Agent pursuant to Clause 25.3(b)(ii) hereof); and 
 give a true and fair view of (if audited) or fairly present (if unaudited) its consolidated financial condition as at the end of, and consolidated results
of operations for, the period to which they relate. 
  

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 The budgets and forecasts supplied under this Agreement were arrived at after careful consideration and
have been prepared in good faith on the basis of recent historical information and on the basis of assumptions which were reasonable as at the date they were prepared and supplied. 
 Since the date of the most recent financial statements delivered pursuant to Clause 25.1 (Financial Statements) there has been no material adverse
change in the business, assets or financial condition of the BST Group. 
 No member of the BST Group has incurred any material liabilities or
commitments (actual or contingent, present or future) before the date of this Agreement which it has not disclosed to the Agent except for liabilities arising in relation to or contemplated by the transactions contemplated by the Transaction
Documents. 
 No proceedings pending or threatened 
 No
litigation, arbitration or administrative proceedings or investigations of, or before, any court, arbitral body or agency which could be reasonably expected to be adversely determined and, if adversely determined, are reasonably likely to have a
Material Adverse Effect have been started or (to the best of its knowledge and belief (having made due and careful enquiry)) threatened against it or any of its Subsidiaries. 
 Environmental laws 
 To the best of its knowledge and belief (having made due and careful enquiry) each
member of the BST Group is in compliance with Clause 27.3 (Environmental compliance) and no circumstances have occurred which would prevent such compliance in a manner or to an extent which has or is reasonably likely to have a Material
Adverse Effect. 
 No Environmental Claim has been commenced or (to the best of its knowledge and belief (having made due and careful
enquiry)) is threatened against any member of the BST Group where that claim has or is reasonably likely, if determined against that member of the BST Group, to have a Material Adverse Effect. 
 Taxation 
 It is not (and none of its Subsidiaries are) materially overdue in
the filing of any Tax returns (taking into account any extension or grace period) and it is not (and none of its Subsidiaries is) overdue in the payment of any amount in respect of Tax except where such Tax may be lawfully withheld and is being
contested in good faith and by appropriate means, where such non-payment is not reasonably likely to have a Material Adverse Effect and where appropriate reserves are being maintained for such contested amounts. 
 Security and Financial Indebtedness 
 No Security or
Quasi-Security exists over all or any of the present or future assets of any member of the BST Group, and no member of the BST Group has agreed to grant any Security or Quasi-Security, other than as permitted by this Agreement. 
 No member of the BST Group has any Financial Indebtedness outstanding other than as permitted by this Agreement. 
  

 91 

 Ranking 
 Subject to the Legal Reservations and completion of applicable perfection requirements, the Transaction Security has or will have first ranking priority and it is not subject to any prior ranking or pari passu ranking Security other
than any Permitted Security. 
 The payment obligations under the Finance Documents will rank at least pari passu with the claims of all its
other present and future unsecured creditors. 
 Good title to assets 
 It and each of its Subsidiaries has a good, valid and marketable title to, or valid leases or licences of, and all appropriate Authorisations to use, the assets necessary to carry on its business as presently conducted other than where
failure to do so is not likely to have a Material Adverse Effect. 
 Legal and beneficial ownership 
 It and each of its Subsidiaries is the sole legal and beneficial owner of the respective assets over which it purports to grant Security. 
 All the Target Shares are or will be on the Closing Date legally and beneficially owned by the Original Borrower free from any claims, third party rights
or competing interests other than Permitted Security permitted under Clause 27.15 (Negative Pledge). 
 Intellectual Property 
 It and each of its Subsidiaries: 
 is the sole legal and
beneficial owner of or has licensed to it on normal commercial terms all the Intellectual Property which is material in the context of its business and which is required by it in order to carry on its business as it is being conducted and as
contemplated in the Business Plan; 
 does not (nor does any of its Subsidiaries), in carrying on its businesses, infringe any Intellectual
Property of any third party in any respect which has or is reasonably likely to have a Material Adverse Effect; and 
 has taken all formal or
procedural actions (including payment of fees) required to maintain any material Intellectual Property owned by it. 
 Group Structure Chart 
 Assuming Completion has occurred, the Group Structure Chart delivered to the Agents pursuant to Part I of Schedule 2 (Conditions Precedent) is
true, complete and accurate and shows all members of the BST Group 
 All necessary intra-Group loans, transfers, share exchanges and other
steps listed in steps 1 to 4 (inclusive) of the Structure Memorandum have been or will be taken on or before the Closing Date in compliance with all relevant laws and regulations and all requirements of relevant regulatory authorities. 

Obligors 
 Each Material Company is or will be an Obligor on the Closing
Date. 
  

 92 

 Accounting reference date 
 The Accounting Reference Date of each member of the BST Group is 31 December. 
 24.25 Acquisition Documents disclosures
and other Documents 
  

	 	(a)	The Acquisition Documents contain all the terms of the Acquisition. 

  

	 	(b)	There is no disclosure made to the Acquisition Documents or the Subscription Agreements which has or is reasonably likely to have a material adverse effect on any of the
information, opinions, intentions, forecasts and projections contained or referred to in the Information Package. 

 Centre of main interests
and establishments 
 For the purposes of The Council of the European Union Regulation No. 1346/2000 on Insolvency Proceedings (the
“Regulation”), its centre of main interest (as that term is used in Article 3(1) of the Regulation) is situated in its jurisdiction of incorporation. 
 Investor Documents 
 The Management Agreement and the Subscription Agreements contain all the material terms of all the
agreements and arrangements between the Original Investors and the members of the BST Group. 
 Pensions 
 It is in compliance with all applicable laws and contracts relating to pension schemes (if any) for the time being operated by it or in which it participates, and each
such pension scheme is adequately funded or accrued for on reasonable actuarial assumptions and recommendations and as required by law. 
 Holding Companies

 Except as may arise under the Transaction Documents or as contemplated in the Structure Memorandum and except for Acquisition Costs, before the Closing
Date neither the Parent nor the Original Borrower has traded or incurred any liabilities or commitments (actual or contingent, present or future) other than in the case of the Parent acting as a Holding Company of the Original Borrower. 

Times when representations made 
 All the representations
and warranties in this Clause 24 are made by each Original Obligor on the date of this Agreement except for the representations and warranties set out in Clause 24.12 (No misleading information) which are deemed to be made by each Obligor on
the Closing Date and (i) with respect to the Information Memorandum, on the date the Information Memorandum is approved by the Original Borrower, (ii) with respect to the Information Package, on the date of this Agreement, the Closing Date
and, in respect of the Realignment Information Package only, the Effective Date and (iii) with respect to the Reports, on the date of this Agreement and on any later date on which the Reports are released to the Mandated Lead Arranger for
distribution in connection with syndication and on the Syndication Date. 
 The Repeating Representations are deemed to be made by each
Obligor on the Closing Date, on the date of each Utilisation Request, on each Utilisation Date and on the first day of each Interest Period (except that those contained in paragraphs (a)—(e) of Clause 24.13 (Original Financial
Statements) will cease to be so made once subsequent financial statements have been delivered under this Agreement). 
  

 93 

 All the representations and warranties in this Clause 24 except Clause 24.12 (No misleading
information), Clause 24.22 (Group Structure Chart), Clause 24.25 (Acquisition Documents, Disclosures and Other Documents) and Clause 24.29 (Holding Companies) are deemed to be made by each Additional Obligor in relation to
itself on the day on which it becomes (or it is proposed that it becomes) an Additional Obligor. 
 Each representation or warranty deemed to
be made after the date of this Agreement shall be deemed to be made by reference to the facts and circumstances existing at the date the representation or warranty is deemed to be made. 
 INFORMATION UNDERTAKINGS 
 The undertakings in this Clause 25 remain in force from the date of this Agreement for so
long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
 In this Clause 25: 
 “Annual Financial Statement” means the financial statements for a Financial Year delivered pursuant to paragraph (a) of Clause 25.1 (Financial
statements). 
 “Monthly Financial Statement” means the financial statements delivered pursuant to paragraph (c) of Clause 25.1
(Financial statements). 
 “Quarterly Financial Statement” means the financial statements delivered pursuant to paragraph (b) of
Clause 25.1 (Financial statements). 
 Financial statements 
 The Parent shall supply to the Agents in sufficient copies for all the Lenders: 
 as soon as they are available, but in any event
within 120 days after the end of each of its Financial Years: 
 its audited consolidated financial statements for that Financial Year; and

 the unaudited financial statements of any other member of the BST Group for that Financial Year if requested by the Agents (acting
reasonably); 
 as soon as they are available, but in any event within 45 days after the end of each Financial Quarter of each of its
Financial Years its unaudited consolidated financial statements for that Financial Quarter; and 
 as soon as they are available, but in any
event within 30 days after the end of each month its unaudited financial statements on a consolidated basis for that month (to include cumulative management accounts for the Financial Year to date). 
 References to “BST Group” in this Clause 25.1 shall (subject to any confidentiality restrictions) include any Joint Venture carried on by any entity in
which any member of the BST Group owns any Stock or Stock Equivalents. 
  

 94 

 Provision and contents of Compliance Certificate 
 The Parent shall supply a Compliance Certificate to the Agents with each set of its audited consolidated Annual Financial Statements and each set of its
consolidated Quarterly Financial Statements. 
 Each Compliance Certificate shall, amongst other things, set out (in reasonable detail)
computations as to compliance with Clause 26 (Financial Covenants). 
 Each Compliance Certificate shall be signed by a director of the
Parent and, if required to be delivered with the consolidated Annual Financial Statements of the Parent, shall be reported on by the Parent’s Auditors in the form agreed by the Parent and the Majority Lenders. 
 Notwithstanding the other provisions of this Clause 25.2, for the Relevant Period ending on 31 December 2007, the Compliance Certificate to be
delivered shall reflect the pro-forma unaudited consolidated financial statements of the BST Group to be delivered pursuant to Clause 26.3(c) and shall not be required to be reported on by the Parent’s Auditors. 
 Requirements as to financial statements 
 The Parent shall
procure that each set of Annual Financial Statements and Quarterly Financial Statements includes a balance sheet, profit and loss account and cashflow statement and that Monthly Financial Statements include a balance sheet and profit and loss
account. In addition the Parent shall procure that each set of Annual Financial Statements shall be audited by the Auditors. 
 Each set of
financial statements delivered pursuant to Clause 25.1 (Financial statements): 
 shall be certified by a director of the relevant
company as giving a true and fair view of (in the case of Annual Financial Statements for any Financial Year), or fairly representing (in other cases), its financial condition and operations as at the date as at which those financial statements were
drawn up and, in the case of the Annual Financial Statements, shall be accompanied by any letter addressed to the management of the relevant company by the Auditors and accompanying those Annual Financial Statements; and 
 shall be prepared using the Accounting Principles, accounting practices and financial reference periods consistent with those applied: 
 in the case of the Parent, in the preparation of the Business Plan; and 
 in the case of any Obligor, in the preparation of the Original Financial Statements for that Obligor, 
 unless, in relation to any set of financial statements, the Priority Agent has consented to a change in the Accounting Principles or the accounting practices and the Auditors of the Parent (or, if appropriate, the Auditors of the Obligor)
deliver to the Priority Agent: 
 a description of any change necessary for those financial statements to reflect the Accounting Principles
or accounting practices upon which the Business Plan or, as the case may be, that Obligor’s Original Financial Statements were prepared; and 
  

 95 

 sufficient information, in form and substance as may be reasonably required by the Agents, to enable the
Lenders to determine whether Clause 26 (Financial covenants) has been complied with, to determine the amount of any prepayments to be made from excess cashflow under Clause 12.2 (Disposal, Insurance, Acquisition and Debt Proceeds and
Excess Cashflow) and to make an accurate comparison between the financial position indicated in those financial statements and the Business Plan (in the case of the Parent) or that Obligor’s Original Financial Statements (in the case of an
Obligor). 
 Any reference in this Agreement to any financial statements shall be construed as a reference to those financial statements as
adjusted to reflect the basis upon which the Business Plan or, as the case may be, the Original Financial Statements were prepared. 
 The
financial statements to be delivered pursuant to Clause 25.1(a) for the Financial Year ending on 31 December 2007 and Clause 25.1(a)(i) for the Financial Quarter ending on 31 March 2008 and the Monthly Financial Statement for January 2008
shall each be prepared as if the Realignment Completion Date had occurred on 1 January 2008 (irrespective of the date of actual completion) with notes for the benefit of the Lenders indicating the material consequences of the actual Realignment
Completion Date not having occurred before 1 January 2008. 
 Following the occurrence of a Default that is continuing, if an Agent
wishes to discuss the financial position of any member of the BST Group with the Auditors, the relevant Agent may notify the Parent, stating the questions or issues which the relevant Agent wishes to discuss with the Auditors. In this event, the
Parent must ensure that the Auditors are authorised (at the expense of the Parent): 
 to discuss the financial position of the relevant
member of the BST Group with the Agent on request from the relevant Agent; and 
 to disclose to the relevant Agent for the Finance Parties
any information which the relevant Agent may reasonably request. 
 Budget 
 The Parent shall supply to the Agents in sufficient copies for all the Lenders, as soon as the same become available but in any event by the end of its current Financial Year (commencing with the Financial Year ending
2007), an annual Budget for the following financial year. 
 The Parent shall ensure that each Budget and the Realignment Information Package:

 includes a projected consolidated profit and loss, balance sheet and cashflow statement for the BST Group and projected financial covenant
calculations and the information referred to in the definition of Realignment Information Package; 
 is prepared in accordance with the
Accounting Principles and the accounting practices and financial reference periods applied to financial statements under Clause 25.1 (Financial statements); and 
 has been approved by the board of directors of the Parent. 
  

 96 

 If the Parent updates or changes the Budget or the Realignment Information Package, it shall promptly
deliver to the Agent, in sufficient copies for each of the Lenders, such updated or changed Budget or the Realignment Information Package together with a written explanation of the main changes in that Budget. 
 BST Group companies 
 The Parent shall, with each set of Annual Financial
Statements, supply to the Agents a report issued by its Auditors stating which of its Subsidiaries are Material Companies. 
 Presentations 
 Once in every financial year, upon the reasonable request of the Agents, at least one director of the Parent must, at a time agreed with the Agents, give a presentation
to the Finance Parties about: 
 the on-going business and financial performance of the BST Group; and 
 any other matter which a Finance Party may reasonably request. 
 Year-end 
 The Parent shall not change its Accounting Reference Date. 
 Information: miscellaneous 
 The Parent shall supply to the Agents (in sufficient copies for all the Lenders, if an Agent so
requests): 
 at the same time as they are dispatched, copies of all documents dispatched by the Parent or any Obligors to the public or its
creditors generally (or any class of them); 
 promptly upon becoming aware of them, the details of any litigation, arbitration or
administrative proceedings which are current, threatened or pending against any member of the BST Group, and which, if adversely determined, are reasonably likely to have a Material Adverse Effect; 
 promptly, such information as the Security Agent may reasonably require about the Charged Property; and 
 promptly on request, such further information regarding the financial condition, assets and operations of the BST Group and/or any member of the BST Group
(including any requested amplification or explanation of any item in the financial statements, budgets or other material provided by any Obligor under this Agreement, any changes to management of the BST Group and an up to date copy of its
shareholders’ register (or equivalent in its jurisdiction of incorporation)) as any Finance Party through the Agents may reasonably request, subject to any confidentiality restrictions or legal restrictions that would prevent disclosure of such
information. 
 Notification of default 
 Each Obligor shall
notify the Agents of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided by another Obligor). 
  

 97 

 Investigations 
 If an Event of Default is continuing the Agent may, following consultation with the Parent as to the scope of the investigation and its cost: 
 instruct (or require the Parent to instruct) the Auditors or another firm of accountants selected by the Agents to carry out an investigation into the affairs of the BST Group and/or the financial performance of the
BST Group and/or the accounting and other reporting procedures and standards of the BST Group; and/or 
 request confirmation that any figure
in a Compliance Certificate delivered under Clause 25.2 (Compliance Certificates) has been correctly extracted from the relevant financial statements delivered under Clause 25.1 (Financial statements); and/or 
 instigate such other investigations, including inspections of real property, and commission such other reports (including, without limitation, legal,
environmental and valuation reports) as the Agents shall reasonably require into the affairs of the BST Group, 
 in each case to the extent
that the Agents consider them (in their reasonable opinion) to be relevant to that Event of Default or the circumstances giving rise to that Event of Default. The expense of any such investigation shall be borne by the Parent. 
 If the Majority Lenders believe in good faith and on reasonable grounds that any financial statements or calculations provided by any member of the BST
Group are inaccurate or incomplete in any material respect and the Agents concur with the opinion of the Majority Lenders, the Agents may, following consultation with the Parent as to the scope of the investigation and its costs: 
 instruct (or require the Parent to instruct) the Auditors or another firm of accountants selected by the Agents to carry out an investigation into the
affairs of the BST Group and/or the financial performance of the BST Group and/or the accounting and other reporting procedures and standards of the BST Group; and/or 
 request confirmation that any figure in a Compliance Certificate delivered under Clause 25.2 (Compliance Certificates) has been correctly extracted from the relevant financial statements delivered under Clause
25.1 (Financial statements); and/or 
 instigate such other investigations, including inspections of real property, and commission such
other reports (including, without limitation, legal, environmental and valuation reports) as the Agents shall reasonably require into the affairs of the BST Group, 
 in each case to the extent that the Agents consider them (in their reasonable opinion) to be relevant for establishing the accuracy of such financial information and/or calculations. The expense of any such
investigations shall be borne by the Parent. 
 “Know your customer” checks 
 If: 
 the introduction of or any change in (or
in the interpretation, administration or application of) any law or regulation made after the date of this Agreement; 
  

 98 

 any change in the status of an Obligor or the composition of the shareholders of an Obligor after the
date of this Agreement; or 
 a proposed assignment or transfer by a Lender of any of its rights and/or obligations under this Agreement to a
party that is not a Lender prior to such assignment or transfer, 
 obliges any Agent or any Lender (or, in the case of paragraph
(iii) above, any prospective new Lender) to comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly upon the
request of the relevant Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the relevant Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of
the event described in paragraph (iii) above, on behalf of any prospective new Lender) in order for the relevant Agent, such Lender or, in the case of the event described in paragraph (iii) above, any prospective new Lender to carry out
and be satisfied with the results of all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 
 Each Lender shall promptly upon the request of the relevant Agent supply, or procure the supply of, such documentation and other evidence as is reasonably
requested by the Agent (for itself) in order for the relevant Agent to carry out and be satisfied with the results of all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the
transactions contemplated in the Finance Documents. 
 the Original Borrower shall, by not less than 10 Business Days’ prior written
notice to the Agents, notify the Agents (which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes an Additional Obligor pursuant to Clause 30 (Changes to the Obligors). 
 Following the giving of any notice pursuant to paragraph (c) above, if the accession of such Additional Obligor obliges any Agent or any Lender to
comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, the Original Borrower shall promptly upon the request of the relevant Agent or any
Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the relevant Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective new Lender) in order
for the Agent or such Lender or any prospective new Lender to carry out and be satisfied with the results of all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the accession of
such Subsidiary to this Agreement as an Additional Obligor. 
 With reference to section 8 of the German Money Laundering Act
(Geldwaeschegesetz), the Obligors hereby declare that they are dealing on their own account under this Agreement. 
 Each Lender that
is subject to the Act (as hereinafter defined) and the Agents (for themselves and not on behalf of any Lender) hereby notify the Borrowers that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law
October 26 2001)) (the “Act”), it is required to obtain, verify and record information that identifies the Borrowers, which information includes the name, address and tax 

  

 99 

 
identification number of the Borrowers and other information regarding the Borrowers that will allow such Lender or the relevant Agent, as applicable, to
identify a Borrower in accordance with the Act. This notice is given in accordance with the requirements of the Act and is effective as to the Lenders and the Agents. 
 FINANCIAL COVENANTS 
 Financial definitions 
 “Capital Expenditure” means any expenditure or obligation in respect of expenditure incurred by a member of the BST Group which should be treated as capital expenditure in accordance with Accounting
Principles. 
 “Cashflow” means, in respect of any Relevant Period, Consolidated EBITDA for that Relevant Period after adding back:

 any decrease in the amount of Working Capital at the end of that Relevant Period compared against Working Capital at the start of that
Relevant Period; 
 any cash receipt in respect of any exceptional or extraordinary item (including in respect of any sale of fixed assets to
the extent not applied in mandatory prepayment pursuant to Clause 12.2 (Disposal, Insurance, Acquisition, Equity and Debt Proceeds and Excess Cashflow)) which have not already been accounted for in computing Consolidated EBITDA; 

all non-cash charges (including provisions) deducted (and not added back) in computing Consolidated EBITDA for such Relevant Period; 
 the amount of any return on capital, dividends or other profit distributions (net of Tax) actually received in cash by any member of the BST Group during
such Relevant Period from participating interests in associated undertakings (and not, for the avoidance of doubt, from any other member of the BST Group); 
 any cash receipts from any Treasury Transaction to the extent not already taken account of in Consolidated EBITDA; and 
 the amount of any rebate or credit in respect of any Tax on profits, gains or income actually received in cash by any member of the BST Group during such Relevant Period, 
 and deducting: 
  

	 	(i)	any amount of Capital Expenditure actually made or contractually falling due for payment by any member of the BST Group during such Relevant Period; 

  

	 	(ii)	any increase in the amount of Working Capital at the end of that Relevant Period compared against Working Capital at the start of that Relevant Period; 

  

	 	(iii)	(if and to the extent included in the calculation of Consolidated EBITDA) all non-cash income received in such Relevant Period; 

  

	 	(iv)	any amount actually paid (or which fell due for payment) in respect of Taxes on the profits, gains or income of any member of the BST Group during such Relevant Period;

  

 100 

	 	(v)	any cash payment in respect of any exceptional or extraordinary item during such Relevant Period (up to a maximum amount of EUR 3,000,000 in aggregate in any Financial Year);

  

	 	(vi)	(if and to the extent included in the calculation of Consolidated EBITDA) any amounts charged in respect of discontinued operations or restructuring activities including the related
termination of employees for such Relevant Period; 

  

	 	(vii)	(if and to the extent included in the calculation of Consolidated EBITDA) and any expenses incurred in respect of historical operating leases prior to the Closing Date;

  

	 	(viii)	(if and to the extent included in the calculation of Consolidated EBITDA) Acquisition Costs; 

  

	 	(ix)	any cash payment applied to any Treasury Transaction to the extent not already taken account of in Consolidated EBITDA; and 

  

	 	(x)	dividends or other profit distributions paid in cash in respect of minority interests during such Relevant Period, 

 provided that no amount shall be included or excluded more than once. 
 “Consolidated EBITDA” means, for any Relevant Period, the aggregate of consolidated net profits of the BST Group from ordinary activities before: 
 profit (or losses) attributable to minority interests; 
 Tax; 
 Acquisition Costs; 
 Restructuring Costs and
ASCI Reorganisation Costs; 
 Consolidated Total Net Finance Charges and non-cash pay interest on the ITG Subordinated Loan and the BST Note;

 all extraordinary and exceptional items (up to a maximum amount of EUR 3,000,000 in aggregate in any Financial Year), without double
counting Restructuring Costs and ASCI Reorganisation Costs; 
 any amounts charged in respect of discontinued operations or restructuring
activities including the related termination of employees, without double counting Restructuring Costs and ASCI Reorganisation Costs; 
 any
expenses incurred in respect of historical operating leases prior to the Closing Date; 
 any amount attributable to depreciation, impairment,
writedown or amortisation of tangible or intangible assets (including goodwill); 
 any amounts received or receivable or paid or payable
pursuant to any Treasury Transaction; 
 income from participating interests in associated undertakings; 
  

 101 

 any gain or loss over book value arising from an upward or downward revaluation of any asset (not being
stock disposed of in the normal course of trading) during such Relevant Period (including any purchase accounting adjustments resulting from the transactions contemplated pursuant to Steps 8 or 9); and 
  

	 	(m)	accrued non-cash pay finance charges permitted under paragraph (i) of the definition of Permitted Financial Indebtedness. 

 “Consolidated Total Net Finance Charges” means, in respect of any Relevant Period: 
 the aggregate amount of the interest (including the interest element of payments made under Finance Leases), commission, fees (excluding all front end,
arrangement and participation fees paid on or about the Closing Date under the Finance Documents and up-front premium or front end fees under any Hedging Agreement), discounts, prepayment penalties or premiums and other finance payments in each case
payable in cash by any member of the BST Group in respect of Financial Indebtedness, including in respect of any interest rate hedging arrangement; less 
 the aggregate of (i) any commission, fees, discounts and other finance payments received in cash by any member of the BST Group under any interest rate hedging arrangement and (ii) any interest received in
cash by any member of the BST Group on any deposit or bank account (including any Mandatory Prepayment Account or Holding Account) which is freely and readily available to fund Debt Service, 
 provided that any amounts payable by one member of the BST Group to another member of the BST Group or under the BST Note or the ITG Subordinated Loan shall not be
included in the calculation of Consolidated Total Net Finance Charges. 
 “Current Assets” means, in respect of any member of the BST Group,
the aggregate value of its assets which are treated as current assets in accordance with Accounting Principles but excluding: 
 receivables
in relation to Tax; 
 any accrued interest receivable due in such period; 
 cash at hand and at bank and Cash Equivalent Investments; and 
 amounts due from the Vendors in connection with the Acquisition. 
 “Current Liabilities” means, in respect
of any member of the BST Group, the aggregate value of all its liabilities which are treated as current liabilities in accordance with Accounting Principles but excluding: 
 Financial Indebtedness of the BST Group falling due within such Relevant Period; 
 liabilities in relation to
Tax; 
 liabilities in relation to dividends declared but not paid by the Parent in that Relevant Period; and 
 amounts due to the Vendors in connection with the Acquisition. 
 “Debt Cover” means, in respect of any Relevant Period, the ratio of Total Debt as at the end of that Relevant Period to Consolidated EBITDA for that Relevant Period. 
 “Debt Service” means, in respect of any Relevant Period, the aggregate of: 
 Consolidated Total Net Finance Charges for that Relevant Period; 
  

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 scheduled repayments, and any other scheduled payments in the value of principal, payable by the BST
Group in that Relevant Period in respect of Financial Indebtedness; and 
 to the extent not already included in paragraph (b) above, the
amount of the capital element of any payments in respect of that Relevant Period payable under any Finance Lease entered into by any member of the BST Group, 
 and so that no amount shall be included more than once but excluding any amounts falling due under any overdraft, working capital facility or revolving credit facility provided such amounts are available for simultaneous redrawing under
that or any replacement facility. 
 “Excess Cashflow” means, for any Financial Year for which it is being calculated, Cashflow for that
Financial Year less the aggregate of: 
 Debt Service for such Financial Year; and 
 mandatory prepayments due under this Agreement and voluntary prepayments during such Financial Year. 
 “Finance Lease” means a contract treated as a finance or capital lease in accordance with Accounting Principles in the relevant jurisdiction.

 “Finance Lease Expenditure” means, in relation to a Finance Lease, the capital value of the asset which is the subject of such Finance
Lease. 
 “Financial Quarter” means each period of three months ending on 31 March, 30 June, 30 September and
31 December in each Financial Year. 
 “Financial Year” means the period of 12 Months ending on the Accounting Reference Date in each
year. 
 “Fixed Charge Cover” means, in respect of any Relevant Period, the ratio of Consolidated EBITDA for that Relevant Period to the sum
of (i) Consolidated Total Net Finance Charges for that Relevant Period and (ii) Capital Expenditure for that Relevant Period. 
 “Interest
Cover” means, in respect of any Relevant Period, the ratio of Consolidated EBITDA for that Relevant Period to Consolidated Total Net Finance Charges for that Relevant Period. 
 “Relevant Period” means each period of twelve months (or such shorter period commencing on the Closing Date) ending on the last day of a Financial Quarter. 
 “Total Debt” means, at any time, the aggregate of (without double counting): 
 that part of the Financial Indebtedness of members of the BST Group (not owed between members of the BST Group or under the BST Note or the ITG
Subordinated Loan) which relates to obligations for the payment or repayment of money in respect of principal incurred in respect of any Financial Indebtedness save for any indebtedness for or in respect of the items set out in paragraphs (f),
(g) or (i) of the definition of Permitted Financial Indebtedness; and 
 all Finance Lease Expenditure in respect of Finance Leases
entered into by members of the BST Group, after deducting the aggregate amount of cash and Cash Equivalent Investments held by any member of the BST Group at that time. 
  

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 “Working Capital” means on any date the aggregate Current Assets of each member of the BST Group less
the aggregate Current Liabilities of each member of the BST Group. 
 In this Clause 26.1 (Financial definitions) “BST Group” shall not
include any Permitted Joint Venture. 
 Financial condition 
 The
Parent shall ensure that: 
 Interest Cover: Interest Cover in respect of any Relevant Period specified in column 1 below shall be or
shall exceed the ratio set out in column 2 below opposite that Relevant Period. 
  

			
	 Column 1
 Relevant Period
	  	Column 2
Ratio (to 1.00)
	 Period expiring 31 March 2007
	  	3.50
		
	 Period expiring 30 June 2007
	  	3.50
		
	 Period expiring 30 September 2007
	  	3.50
		
	 Period expiring 31 December 2007
	  	2.95
		
	 Period expiring 31 March 2008
	  	2.55
		
	 Period expiring 30 June 2008
	  	2.20
		
	 Period expiring 30 September 2008
	  	2.05
		
	 Period expiring 31 December 2008
	  	2.05
		
	 Period expiring 31 March 2009
	  	2.30
		
	 Period expiring 30 June 2009
	  	2.50

  

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 Debt Cover: Debt Cover in respect of any Relevant Period specified in column 1 below shall not
exceed the ratio set out in column 2 below opposite that Relevant Period. 
  

			
	 Column 1
 Relevant Period
	  	Column 2
Ratio (to 1.00)
	 Period expiring 31 March 2007
	  	4.60
		
	 Period expiring 30 June 2007
	  	4.90
		
	 Period expiring 30 September 2007
	  	4.40
		
	 Period expiring 31 December 2007
	  	3.85
		
	 Period expiring 31 March 2008
	  	4.20
		
	 Period expiring 30 June 2008
	  	4.50
		
	 Period expiring 30 September 2008
	  	4.60
		
	 Period expiring 31 December 2008
	  	4.45
		
	 Period expiring 31 March 2009
	  	3.60
		
	 Period expiring 30 June 2009
	  	3.30

  

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 Fixed Charge Cover: Fixed Charge Cover in respect of any Relevant Period specified in column 1
below shall be or shall exceed the ratio set out in column 2 below opposite that Relevant Period. 
  

			
	 Column 1
 Relevant Period
	  	Column 2
Ratio (to 1.00)
	 Period expiring 30 June 2007
	  	0.65
		
	 Period expiring 31 December 2007
	  	0.75
		
	 Period expiring 30 June 2008
	  	0.75
		
	 Period expiring 31 December 2008
	  	0.90
		
	 Period expiring 30 June 2009
	  	1.00

 Capital Expenditure: 
 The aggregate Capital Expenditure of the BST Group in respect of any Financial Year of the Parent (or part thereof) specified in column 1 below shall not exceed the amount set out in column 2 below opposite that
Financial Year (or part thereof). 
  

			
	 Column 1
 Financial Year (or part thereof) Ending
	  	Column 2
Maximum Expenditure (EUR)
	 31 December 2007
	  	35,000,000
		
	 31 December 2008
	  	30,000,000
		
	 30 June 2009
	  	12,000,000

 Provided that: 
 if in any Financial Year (the “Original Financial Year”) the amount of the Capital Expenditure is less than the maximum amount permitted for that Original Financial Year (the difference being referred
to below as the “Unused Amount”), then the maximum expenditure amount set out in column 2 above for the immediately following Financial Year, or part thereof, (and not otherwise or further) (the “Carry Forward
Year”) shall be increased by an amount equal to 50% of the Unused Amount, calculated on an annualised basis for the Carry Forward Year. In any Carry Forward Year, the original amount specified in column 2 above shall be treated as having
been incurred prior to any Unused Amount carried forward into such Carry Forward Year; and 
 the maximum expenditure amount set out in column
2 above, as adjusted pursuant to the foregoing paragraph (i), for any Financial Year shall be increased by an amount equal to the amount of cash proceeds received from the Disposal permitted pursuant to paragraph (h) of the definition of
Permitted Disposal for that Financial Year. 
  

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 Financial testing 
 The financial covenants set out in Clause 26.2 (Financial condition) shall be calculated in accordance with the Accounting Principles and tested by reference to each of the financial statements and/or each Compliance Certificate
delivered pursuant to Clause 25.2 (Provision and contents of Compliance Certificate) provided that in respect of the Relevant Periods expiring on 31 March 2007, 30 June 2007 and 30 September 2007, as applicable, the
covenants in paragraphs (a) (Interest Cover), (b) (Debt Cover) and (c) (Fixed Charge Cover) of Clause 26.2 (Financial Condition) will be calculated as follows: in the case of paragraphs
(a) (Interest Cover), (b) (Debt Cover) and (c) (Fixed Charge Cover), Consolidated EBITDA shall include (by way of aggregation) the Consolidated EBITDA of the BST Group for the initial part of the Relevant Period
notwithstanding that the Target Group was not part of the BST Group during such initial part; 
 for the purpose of determining compliance
with the covenants in clauses 26.2(a) (Interest Cover), 26.2(b) (Debt Cover) and 26.2(c) (Fixed Charge Cover) if the BST Group acquires or disposes, as applicable, all of the share capital of a company or companies (having
obtained any necessary consent under this agreement to do so), until the first testing date which falls more than 12 months after the relevant company or companies became or cease to be, as applicable, Subsidiaries of the Parent, the results of such
company or companies will be deemed included with or excluded from, as applicable, those of the rest of the BST Group for the full duration of the Relevant Period as if such company or companies had become or had ceased to be, as applicable, a
member of the BST Group at the commencement of that Relevant Period; and 
 for the purpose of determining compliance with the covenants in
Clauses 26.2(a) (Interest Cover), 26.2(b) (Debt Cover) and 0 (Fixed Charge Cover) for the Relevant Period ending 31 December 2007 the Calculations for such Compliance Certificate shall be based on pro-forma unaudited
consolidated financial statements of the BST Group which assumes that the Realignment Completion Date has occurred. 
 GENERAL UNDERTAKINGS

 The undertakings in this Clause 27 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents
or any Commitment is in force. 
 Authorisations and compliance with laws 
 Authorisations 
 Each Obligor shall (and the Parent shall ensure that each
member of the BST Group will) promptly: 
 obtain, comply with and do all that is necessary to maintain in full force and effect; and

 if so requested, supply certified copies to the Agents of, 
 any Authorisation required under any law or regulation of a Relevant Jurisdiction to: 
 enable it to perform
its obligations under the Finance Documents and the Transaction Documents to which it is a party; 
  

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 ensure (subject to the Legal Reservations) the legality, validity, enforceability or admissibility in
evidence of any Finance Document or Transaction Document to which it is a party; and 
 carry on its business where failure to do so has or is
reasonably likely to have a Material Adverse Effect. 
 Compliance with laws 
 Each Obligor shall (and the Parent shall ensure that each member of the BST Group will) comply in all respects with all laws to which it may be subject, if failure so to comply has or is reasonably likely to have a
Material Adverse Effect. 
 Environmental compliance 
 Each
Obligor shall (and the Parent shall ensure that each member of the BST Group will): 
 comply with all Environmental Laws; and 
 obtain, maintain and ensure compliance with all requisite Environmental Permits, 
 where failure to do so has or is reasonably likely to have a Material Adverse Effect. 
 Environmental claims 
 Each Obligor shall (through the Parent), promptly upon becoming aware of the same, inform the Agents in writing of any Environmental Claim against any member of the BST
Group which is current, pending or threatened where the claim, if determined against that member of the BST Group, has or is reasonably likely to have a Material Adverse Effect. 
 Taxation 
 Each Obligor shall (and the Parent shall ensure that each member of the BST Group will) pay and
discharge all Taxes imposed upon it or its assets within the time period allowed without incurring penalties unless and only to the extent that: 
 such payment is being contested in good faith; 
 adequate reserves are being maintained for those Taxes and the costs required to
contest them which have been disclosed in its latest financial statements delivered to the Agent under Clause 25.1 (Financial statements); and 
 such payment can be lawfully withheld and failure to pay those Taxes does not have or is not reasonably likely to have a Material Adverse Effect. 
 No member of the BST Group may change its residence for Tax purposes. 
 Restrictions on business focus 
 Merger 
 No Obligor shall (and the Parent shall ensure that no other member of the BST Group will) enter into any amalgamation, demerger, merger, consolidation (with the Parent’s direct or indirect Shareholders or
otherwise) or corporate reconstruction other than (i) a Permitted Transaction, (ii) as part of the Permitted Reorganisation Transaction or (iii) with the prior written consent of the Agents. 
  

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 Change of business 
 The
Parent shall procure that no substantial change is made to the general nature of the business of the Parent, the Obligors or the BST Group taken as a whole from that carried on by the Target Group at the date of this Agreement. 
 Acquisitions 
 Except as permitted under paragraph
(b) below, no Obligor shall (and the Parent shall ensure that no other member of the BST Group will): 
 acquire a company or any shares
or securities or a business or undertaking (or, in each case, any interest in any of them); or 
 incorporate a company. 
 Paragraph (a) above does not apply to an acquisition of a company, of shares, securities or a business or undertaking (or, in each case, any interest
in any of them) or the incorporation of a company which is: 
 a Permitted Acquisition; 
 a Permitted Transaction; or 
 a Permitted
Reorganisation Transaction. 
 Joint ventures 
 Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the BST Group will): 
 enter into, invest in or acquire (or agree to acquire) any shares, stocks, securities or other interest in any Joint Venture; or 
 transfer any assets or lend to or guarantee or give an indemnity for or give Security for the obligations of a Joint Venture or maintain the solvency of or provide working capital to any Joint Venture (or agree to do any of the foregoing).

 Paragraph (a) above does not apply to any acquisition (or agreement to acquire) of any interest in a Joint Venture or transfer of
assets (or agreement to transfer assets) to a Joint Venture or loan made to or guarantee given in respect of the obligations of a Joint Venture if such transaction is a Permitted Joint Venture. 
 Holding Companies 
 Neither the Parent nor the Original Borrower shall trade,
carry on any business, own any assets or incur any liabilities except for: 
 the provision of administrative services (excluding treasury
services) to other members of the BST Group of a type customarily provided by a holding company to its Subsidiaries; 
 ownership of shares in
its Subsidiaries, intra-BST Group debit balances and credit balances in bank accounts, cash and Cash Equivalent Investments but only if those shares, credit balances, cash and Cash Equivalent Investments are subject to the Transaction Security;

  

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 entry into and any liabilities under the Transaction Documents to which it is a party; 
 professional fees, fees to (independent) directors and administration costs in the ordinary course of business as a holding company; or 
 owning assets and/or incurring liabilities pursuant to the steps contemplated by the Permitted Reorganisation Transaction. 
 Dormant subsidiaries 
 No Obligor shall (and the Parent shall ensure no
member of the BST Group will) cause or permit any member of the BST Group which is a Dormant Subsidiary to commence trading or cease to satisfy the criteria for a Dormant Subsidiary unless such Dormant Subsidiary becomes an Additional Guarantor in
accordance with Clause 30.4 (Additional Guarantors). 
 Restrictions on dealing with assets and Security 
 Preservation of assets 
 Each Obligor shall (and the Parent shall ensure that
each member of the BST Group will) maintain in good working order and condition (ordinary wear and tear excepted) all of its assets necessary in the conduct of its business. 
 Pari passu ranking 
 Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party
or Hedge Counterparty against it under the Finance Documents rank at least pari passu with, and in the case of the Transaction Security rank ahead of, the claims of all its other unsecured and unsubordinated creditors except those creditors whose
claims are mandatorily preferred by laws of general application to companies. 
 Acquisition Documents 
 the Original Borrower shall promptly pay all amounts payable to the Vendors under the Acquisition Documents as and when they become due (except to the
extent that any such amounts are being contested in good faith by a member of the BST Group and where adequate reserves are set aside for any such payment). 
 the Original Borrower shall (and the Parent will procure that the Original Borrower and each relevant member of the BST Group will) take all reasonable and practical steps to preserve and enforce its rights (or the
rights of any other member of the BST Group) and pursue any claims and remedies arising under any Acquisition Documents. 
 the Original
Borrower will promptly inform the Agents after the date upon which it (acting reasonably) concludes that the Acquisition will not complete. 
 Negative
pledge 
 In this Clause 27.15, “Quasi-Security” means a transaction described in paragraph (b) below. 
 Except as permitted under paragraph (c) below: 
 No
Obligor shall (and the Parent shall ensure that no other member of the BST Group will) create or permit to subsist any Security over any of its assets. 
 No Obligor shall (and the Parent shall ensure that no other member of the BST Group will): 
 sell, transfer
or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the BST Group; 
  

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 sell, transfer or otherwise dispose of any of its receivables on recourse terms; 
 enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of
accounts; or 
 enter into any other preferential arrangement having a similar effect, 
 in circumstances where the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the
acquisition of an asset. 
 Paragraphs (a) and (b) above do not apply to any Security or (as the case may be) Quasi-Security, which
is: 
 Permitted Security; or 
 a
Permitted Transaction. 
 Disposals 
 Except as
permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the BST Group will) enter into a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary
to sell, lease, transfer or otherwise dispose of any asset. 
 Paragraph (a) above does not apply to any sale, lease, transfer or other
disposal which is: 
 a Permitted Disposal; 
 a Permitted Transaction; or 
 a Permitted Reorganisation Transaction. 
 Arm’s length basis 
 Except as permitted by paragraph
(b) below, no Obligor shall (and the Parent shall ensure no member of the BST Group will) enter into any transaction with any person or Affiliate except on arm’s length terms and for full market value. 
 The following transactions shall not be a breach of this Clause 27.7: 
 intra-BST Group loans permitted under Clause 27.18 (Loans or credit); 
 fees, costs and expenses
payable under the Transaction Documents in the amounts set out in the Transaction Documents delivered to the Agents under Clause 4.1 (Initial conditions precedent) or agreed by the Agents; 
 payment of fees and costs for independent directors if the amount of those fees and costs does not exceed an aggregate limit agreed between the Agents and
the Parent in any Financial Year of the Parent; 
  

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 transactions between Obligors or guarantees given by Obligors in respect of the liabilities of Obligors;

 any payment made in accordance with Clause 27.20 (Dividends and share redemption); 
 the issuance of shares as permitted pursuant to the terms of this Agreement; and 
 any Permitted Transactions. 
 Restrictions on movement of cash—cash out 
 Loans or credit 
 Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the BST Group will) be a creditor in
respect of any Financial Indebtedness. 
 Paragraph (a) above does not apply to: 
 a Permitted Loan; or 
 a Permitted
Transaction. 
 No Obligor shall (and the Parent shall ensure that no member of the BST Group nor Narricot will) repay, prepay, redeem, make a
distribution in respect of, or otherwise allow any discharge in cash or kind of the ITG Subordinated Loan on or before the Final Discharge Date (as defined in the Intercreditor Deed). 
 No Guarantees or indemnities 
 Except as permitted under paragraph (b) below, no Obligor shall (and the
Parent shall ensure that no member of the BST Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person. 
 Paragraph (a) does not apply to a guarantee which is: 
 a Permitted Guarantee; or 
 a Permitted Transaction. 
 Dividends and share redemption

 Except as permitted under paragraph (b) below, the Parent shall ensure that no member of the BST Group will: 
 declare, make or pay any dividend, charge, fee or other distribution (or interest on any unpaid dividend, charge, fee or other distribution) (whether in
cash or in kind) on or in respect of its share capital (or any class of its share capital); 
 repay or distribute any dividend or share
premium reserve; 
 pay or allow any member of the BST Group to pay any management, advisory or other fee to or to the order of any of the
shareholders of the Parent or any of their Affiliates other than a member of the BST Group; or 
  

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 redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so. 
 Paragraph (a) above does not apply to: 
 a Permitted Distribution. 
 a Permitted Transaction (other than one referred to in paragraph (c) of the definition of that
term); or 
 payments, dividends and distributions, including distributions in specie that are a Permitted Reorganisation Transaction.

 Second Lien Facility 
 Except as permitted
under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the BST Group will): 
 repay or prepay any
principal amount (or capitalised interest) outstanding under the Second Lien Facility; 
 pay any interest or any other amounts payable in
connection with the Second Lien Facility; or 
 purchase, redeem, defease or discharge any amount outstanding with respect to the Second Lien
Facility. 
 Paragraph (a) does not apply to a payment, repayment, prepayment, purchase, redemption, defeasance or discharge which is a
Permitted Payment or permitted by the terms of the Intercreditor Deed. 
 Restrictions on movement of cash—cash in

 Financial Indebtedness 
 Except as
permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the BST Group will) incur or allow to remain outstanding any Financial Indebtedness. 
 Paragraph (a) above does not apply to Financial Indebtedness which is: 
 Permitted Financial Indebtedness; or 
 a Permitted Transaction. 
 Share capital 
 No Obligor shall (and the Parent shall ensure no member of
the BST Group will) issue any shares except pursuant to: 
 a Permitted Share Issue; or 
 a Permitted Transaction. 
  

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 Miscellaneous 
 Insurance 
 Each Obligor shall (and the Parent shall ensure that each member of the BST Group will) maintain
insurances on and in relation to its business and assets against those risks and to the extent as is usual for companies carrying on the same or substantially similar business. 
 All insurances must be with reputable independent insurance companies or underwriters. 
 Pensions 
 The Parent shall ensure that all pension schemes operated by or maintained for the benefit of
members of the BST Group and/or any of its employees are funded to the extent required by law and in compliance with applicable laws and that no action or omission is taken by any member of the BST Group in relation to such a pension scheme which
has or is reasonably likely to have a Material Adverse Effect. 
 The Parent shall deliver to the Agents at such times as those reports are
prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to the Parent), actuarial reports in relation to all pension schemes mentioned in (a) above.

 The Parent shall promptly notify the Agents of any material change in the rate of contributions to any pension schemes mentioned in
(a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise). 
 Access 
 Each Obligor shall, and the Parent shall ensure that each member of the BST Group will, (not more than once in every Financial Year unless the relevant Agent reasonably
suspects a Default is continuing) permit the relevant Agent and/or the Security Agent and/or accountants or other professional advisers and contractors of the relevant Agent or Security Agent free access at all reasonable times and on reasonable
notice at the risk and cost of the Obligor or the Parent to (a) the premises, assets, books, accounts and records of each member of the BST Group and (b) meet and discuss matters with Senior Management. 
 Intellectual Property 
 Each Obligor shall (and the Parent shall procure that
each BST Group member will): 
 preserve and maintain the subsistence and validity of the Intellectual Property necessary for the business of
the relevant BST Group member; 
 use reasonable endeavours to prevent any infringement in any material respect of the Intellectual Property;

 make registrations and pay all registration fees and taxes necessary to maintain the Intellectual Property in full force and effect and
record its interest in that Intellectual Property; 
 not use or permit the Intellectual Property to be used in a way or take any step or omit
to take any step in respect of that Intellectual Property which may materially and adversely affect the existence or value of the Intellectual Property or imperil the right of any member of the BST Group to use such property; and 
  

 114 

 not discontinue the use of the Intellectual Property, 
 where failure to do so is reasonably likely to have a Material Adverse Effect. 
 Amendments 
 No Obligor (including the Parent) shall (and the Parent shall ensure that no member of the BST Group will) amend, vary, novate,
supplement, supersede, waive or terminate any material term of a Transaction Document or any other document delivered to the Agents pursuant to Clauses 4.1 (Initial conditions precedent) or Clause 30 (Changes to the Obligors) or enter
into any agreement with any shareholders of the Parent (other than as set out in the Subscription Agreements) or any of their Affiliates which is not a member of the BST Group except in writing: 
 in accordance with the provisions of Clause 40 (Amendments and Waivers) or of the Intercreditor Deed; or 
 prior to or on the Closing Date, with the prior written consent of the Original Lenders; or 
 after the Closing Date, in a way which could not be reasonably expected materially and adversely to affect the interests of the Lenders. 
 The Parent shall promptly supply to the Agents a copy of any document relating to any of the matters referred to in paragraphs (a) to (c) above. 
 BST Group bank accounts 
 The Parent shall ensure that any Holding Account
and Mandatory Prepayment Account and all other bank accounts of the BST Group (each such other bank account being a “Bank Account”) shall be opened and maintained with a Finance Party or an Affiliate of a Finance Party or a
designated financial institution approved by the Agents (such consent not to be unreasonably withheld) and are subject to valid Security under the Transaction Security Documents (including Control Agreements) provided that a Bank Account
shall not be required to be maintained with a Finance Party or an Affiliate of a Finance Party or a designated financial institution approved by the Agents and a Control Agreement shall not be required where: (i) the average daily balance in
such respective Bank Account does not exceed Euro 500,000 (or its equivalent) in any 6-month period and (ii) the aggregate amount in all such Bank Accounts does not exceed at any time Euro 1,000,000 (or its equivalent). 
 Treasury Transactions 
 No Obligor shall (and the Parent will
procure that no members of the BST Group will) enter into any Treasury Transaction, other than: 
 the hedging transactions contemplated by
the Hedging Letter and documented by the Hedging Agreements; 
 spot and forward delivery foreign exchange contracts entered into in the
ordinary course of business and not for speculative purposes; and 
 any Treasury Transaction entered into for the hedging of actual or
projected real exposures arising in the ordinary course of trading activities of a member of the BST Group and not for speculative purposes. 
  

 115 

 The Parent shall ensure that all currency and interest rate hedging arrangements contemplated by the
Hedging Letter are implemented in accordance with the terms of the Hedging Letter and that such arrangements are not terminated, varied or cancelled without the consent of the Priority Agent (acting on the instructions of the Majority Lenders), save
(in the case of arrangements documented by the Hedging Agreements) as permitted by the Intercreditor Deed. 
 Further assurance 
 Subject to the Security Principles, each Obligor shall (and the Parent shall procure that each member of the BST Group will) promptly do all such acts or
execute all such documents (including assignments, transfers, mortgages, charges, notices and instructions) as the Security Agent may reasonably specify (and in such form as the Security Agent may reasonably require in favour of the Security Agent
or its nominee(s)): 
 to perfect the Security created or intended to be created under or evidenced by the Transaction Security Documents
(which may include the execution of a mortgage, charge, assignment or other Security over all or any of the assets which are, or are intended to be, the subject of the Transaction Security) or for the exercise of any rights, powers and remedies of
the Security Agent or the Finance Parties provided by or pursuant to the Finance Documents or by law; 
 to confer on the Security Agent or
confer on the Finance Parties Security over any property and assets of that Obligor located in any jurisdiction equivalent or similar to the Security intended to be conferred by or pursuant to the Transaction Security Documents; and/or 

to facilitate the realisation of the assets which are, or are intended to be, the subject of the Transaction Security. 
 Subject to the Security Principles, each Obligor shall (and the Parent shall procure that each member of the BST Group shall) take all such action as is
available to it (including making all filings and registrations) as may be necessary for the purpose of the creation, perfection, protection or maintenance of any Security conferred or intended to be conferred on the Security Agent or the Finance
Parties by or pursuant to the Finance Documents. 
 Conditions subsequent 
 The Parent shall within 60 days of the Closing Date enter into the Hedging Agreements in order to hedge its interest rate exposure in respect of at least 50% of the aggregate amount of the Term Facilities for a period
of one year from the date of entry into such Hedging Agreements and shall renew such Hedging Agreements on or before their initial expiration date for a further period of not less than one additional year. 
 The Parent shall procure that within 10 Business Days of the Closing Date, steps 5-9 (inclusive) as set out in the Structure Memorandum have been
implemented. The Parent shall deliver to the Agents copies of any documentation confirming completion of such steps and a legal opinion from Jones Day, as legal advisers to the Parent as to New York law, regarding the creation, attachment and
perfection of valid security in respect of the Parent’s shareholding in Narricot Industries Management Corp. and its interest in Narricot Industries L.P. 
  

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 The Parent shall procure that all registrations which are required to be filed with the commercial
register to implement step 10 as set out in the Structure Memorandum (the “Merger”) are filed for registration with the relevant commercial register within 90 days of the Closing Date and the Parent shall procure that the following
documents are delivered to the Agents: 
 a copy of the agreement documenting the Merger; 
 shareholder resolutions in respect of each of the Original Borrower and the Target approving the Merger; 
 a copy of the application for registration with the relevant commercial register of each of the Original Borrower and the Target together with a receipt
stamp of the relevant commercial register evidencing the application for the registration of the Merger; 
 immediately after registration of
the Merger in the relevant commercial registers, but in no event later than 150 days after the Closing Date, the Parent shall deliver to the Security Agent certified register excerpts of the companies participating in the Merger evidencing
completion of the Merger. 
 The Parent shall procure that each member of the BST Group identified in Part III of Schedule 2
(Conditions Precedent) carries out any action to protect, perfect or give priority to the Transaction Security by the specified date identified opposite the name of that member of the BST Group in Part III of Schedule 2 (Conditions
Precedent). 
 The Parent shall use its best efforts to ensure that, by no later than 2 February, 2007 or such later date as the
Security Agent shall agree to (provided that the Parent can evidence that it is diligently taking the steps that are necessary to effect the requirements of this Clause 27.32(d)) each of its Subsidiaries that owns inventory held in the custody of
customers in Mexico grant to the Security Agent Security therein, naming the customer in each case a depository, and making such filings and taking such other actions as may be deemed reasonably necessary by counsel to the Agents. 
 In the event that the thresholds specified in Clause 27.29 (BST Group Bank Accounts) are exceeded at the Closing Date, the Parent shall use its
best efforts to ensure that each member of the BST Group that is required to enter into a Control Agreement pursuant to Clause 27.29 (BST Group Bank Accounts) executes such an agreement by no later than 2 February, 2007 or such later
date as the Security Agent shall agree to. 
 The Parent shall within 10 Business Days of the Closing Date, deliver a letter to the Agents
specifying the Holding Account and the Mandatory Prepayment Account including details of each account name, account number and the name and address of the bank where each account is held. 
 The Parent shall procure that within 10 Business Days of the Closing Date each of Rosaria GmbH & Co. KG (registered with the local court of
Düsseldorf under HRA 13960) and Rosata GmbH & Co. KG (registered with the local court of Düsseldorf under HRA 14567) accede as Additional Guarantor to this Agreement. 
 The Parent shall procure that not later than 15 Business Days after the Closing Date both Rosata GmbH & Co KG (registered with the local court of
Düsseldorf under HRA 14567) and Rosaria GmbH & Co KG registered with the local court of Düsseldorf under HRA 13960) have either: 
 arranged for an assignment of all existing land charges (Grundschulden) currently registered on their respective properties by the relevant current holders to the Security Agent in proper form for registration in the relevant register (in
grundbuchmäßiger Form) and, in relation to any land charge with certificate (Briefgrundschuld) for the handover of the certificates to the Security Agent (Übergabe der Grundschuldbriefe); or 
  

 117 

 granted new land charges to the Security Agent over their respective properties in the same total
aggregate amount as are currently registered for other beneficiaries, subject to the provisions of para. (i) below. 
 If in the
reasonable opinion of the Security Agent, the value of the properties owned by each of Rosata GmbH & Co KG and Rosaria GmbH & Co KG is significantly higher than the total aggregate amount of the land charges provided as security
under para. (h) above, the Parent shall, without undue delay (unverzüglich) arrange for additional land charges to be registered on the relevant property in the amount of the difference between the value and the security already granted in
accordance with para. (h) above. 
 The Parent undertakes to deliver to the Agents a copy of any such applications together with a
receipt stamp of the relevant land register evidencing the application for the registration of these land charges have been filed or, in case of an assignment, the delivery of the necessary documentation to the Security Agent. 
 The Parent shall procure that not later than 3 Business Days after the Closing Date BST Safety Textiles GmbH shall have arranged for an assignment of all
existing land charges (Grundschulden) currently registered on its properties by the relevant current holders to the Security Agent in proper form for registration in the relevant register (in grundbuchmäßiger Form) and, in
relation to any land charge with certificate (Briefgrundschuld) for the handover of the certificates to the Security Agent (Übergabe der Grundschuldbriefe). The Parent undertakes to deliver to the Security Agent copies of the
necessary documentation and a legal opinion from Jones Day, as legal advisers to the Parent as to German law, regarding such assignment (such opinion may be included in the opinion to be rendered in relation to Rosata GmbH & Co. KG and
Rosaria GmbH & Co. KG to be delivered upon their accession to this Agreement as Additional Guarantors). 
 The Parent shall procure
that the following Polish law governed security documents (together the “Polish Security Agreements”) are entered into within three Business Days of the Closing Date: 
 a registered and financial pledge entered into by BST Breitgewebe International GmbH over 99.71% of its shares in BST Safety Textiles Sp. z o. o.;

 a registered and financial pledge entered into by BST Safety Textiles Holding GmbH over 0.29% of its shares in BST Safety Textiles
Sp. z o. o.; and 
 a registered pledge of assets and rights entered into by BST Safety Textiles Sp. z o. o together with an
obligation to submission to enforcement in scope of delivery of assets and a submission to enforcement up to a certain amount, 
 the Parent
shall further procure that all necessary filing applications and notifications in respect of the Polish Security Agreements are made within 3 Business Days of the date of the relevant Polish Security Agreement. Further, the Parent shall procure that
Soltysinski Kawecki & Szlezak as legal advisers to the Parent deliver a legal opinion in respect of the Polish Security Agreements. 
  

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 The Parent shall procure that not later than 5 Business Days after the Closing Date, an updated Structure
Memorandum is delivered to the Agents. 
 Limitations of Undertakings 
 Notwithstanding Clause 27 (General Undertakings) above, the provisions of Clauses 27.6 (Merger), Clause 27.7 (Change of Business), Clause 27.8 (Acquisitions), Clause 27.9
(Joint Ventures), Clause 27.18 (Loans or credit) through Clause 27.20 (Dividends and share redemption) and Clause 27.23 (Share Capital) (the “Relevant Restrictive Convents”) shall not apply to any member
of the BST Group whose Relevant Jurisdiction is Germany (together the “German Group”). 
 The Parent shall give the Agents no
less than ten (10) Business Days’ prior written notice of the intention of it or any other member of the German Group to carry out any of the acts or take any of the steps referred to in the Relevant Restrictive Covenants. 
 The Agents shall be entitled within ten (10) Business Days of receipt of the Parent notice under paragraph (b) above to request the relevant
member of the German Group to supply to the Agents in sufficient copies for the Lenders any relevant information in connection with the proposed action or steps referred to in such notice. 
 The Agents shall notify the Parent within ten (10) Business Days of receipt of the Parent notice under paragraph (b) above or if additional
information has been requested by the Agents within the prescribed time, within ten (10) Business Days of receipt of such information, whether the proposed action or steps under paragraph (a) above is or is, in the reasonable opinion of
the Priority Agent, acting on the instructions of the Majority Lenders, likely to have a Material Adverse Effect. 
 If the proposed action or
step under paragraph (a) above is so considered by the Priority Agent to have a Material Adverse Effect and the relevant member of the German Group nevertheless takes such action or steps under paragraph (a) above, the Agent shall be
entitled to make (and, if so instructed by the Majority Lenders shall make) the declaration, request and/or instruction set out in Clause 28.20 (Acceleration). 
 Separateness 
 Except to the extent otherwise permitted by the Finance Documents each Obligor shall (and the Parent shall
procure that each member of the BST Group will): 
 maintain books and records separate from any person that is not a member of the BST Group;

 maintain its bank accounts separate from any person that is not a member of the BST Group; 
 not commingle its assets with those of any person that is not a member of the BST Group and hold all of its assets in its own name provided, however, that
it is acknowledged and agreed that nothing in this clause (c) shall prohibit (i) employees of ITG or any of its Subsidiaries, on the one hand, and employees of any member of the BST Group, on the other hand, from sharing corporate office
space located in Greensboro, North Carolina, so long as the costs associated with the occupation of such space are allocated between ITG and its Subsidiaries, on the one hand, and the BST Group, on the other hand, based upon a reasonable allocation
method, (ii) the procurement by ITG of software, software licenses and related intellectual property to be made 

  

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available to any member of the BST Group, so long as such property is generally being purchased or arranged for ITG, its Subsidiaries and the members of the
BST Group as a whole and each such member of the BST Group reimburses ITG for the actual costs of such intellectual property based upon a reasonable allocation method, or (iii) the storage or use of assets with those of any member of the ITG
Group so long as such assets are clearly and conspicuously marked or readily identifiable; 
 conduct its own business in its own name;
provided, however, that it is acknowledged and agreed that any member of the BST Group may change its legal name to include the words “ITG Automotive Safety” so long as (i) such member uses stationery, purchase orders, invoices, and
cheques indicating that it is a distinct legal entity within the ITG group of companies and (ii) in connection with such name change, such member delivers a notice to its material vendors announcing such name change; 
 maintain separate financial statements, showing its assets and liabilities separate and apart from those of any other person or entity and shall not have
its assets listed on the financial statement of any member of the ITG Group; provided, however, that the assets of any member of the BST Group may be included in the consolidated financial statement of ITG provided that (i) appropriate notation
shall be made on such consolidated financial statements to indicate the separateness of the relevant member of the BST Group from the ITG Group and to indicate that the relevant member of the BST Group assets and credit of such member of the BST
Group are not available to satisfy the debts and other obligations of members of the ITG Group and (ii) such assets shall also be listed on the BST Group’s own separate balance sheet; 
 other than strictly in accordance with the terms of the Tax Sharing Agreement, file its tax returns separate from those of any other entity and not to
file a consolidated federal income tax return with any other corporation; 
 pay its own liabilities and expenses only out of its own funds,
and issue invoices and purchase orders in its own name, in each case consistent with past practice; provided, however, that ITG may purchase for or arrange to be made available to any member of the BST Group insurance, employee benefits, tax, legal,
accounting and similar services and intangible goods so long as such intangible goods or services are generally being purchased or arranged for ITG, its Subsidiaries and the members of the BST Group as a whole and each such member of the BST Group
reimburses ITG for the actual costs of such intangible goods and services based upon a reasonable allocation method; 
 observe all corporate
and other organisational formalities; 
 pay the salaries of its own employees from its own funds; 
 maintain a sufficient number of employees in light of its contemplated business operations; 
 not guarantee or become obligated for the debts of any member of the ITG Group; 
 not hold out its credit as being available to satisfy the obligations of any member of the ITG Group; 
 not acquire the obligations or securities of any member of the ITG Group; 
 not make loans to any member of the ITG Group, or buy or hold evidence of indebtedness issued by any member of the ITG Group; 
  

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 use stationery, purchase orders, invoices, and cheques bearing its own name; provided, however, that it
is acknowledged and agreed that any member of the BST Group may change its legal name to include the words “ITG Automotive Safety”, so long as (i) such stationery, purchase orders, invoices, and cheques indicate that such member is a
distinct legal entity within the ITG group of companies and (ii) in connection with such name change, such member delivers a notice to its material vendors announcing such name change; 
 not pledge its assets for the benefit of any member of the ITG Group; 
 not identify itself as a division of any member of the ITG Group; and 
 provided, however, that the foregoing
shall not apply to nor restrict (i) the Permitted Reorganisation Transaction, (ii) a lease agreement between ITG, as lessor, and ITG Automotive Safety Textiles, LLC, as lessee, with respect to the real property located at 740 Old Cheraw
Highway in Cordova, Richmond County, North Carolina, (iii) any transaction or service that may be performed by ITG or any of its Subsidiaries for any member of the BST Group or that may be performed by any member of the BST Group for ITG or any
of its Subsidiaries pursuant to the terms of the Management Advisory Services and Consulting Agreement dated as of 19 January 2007, among the Parent, BST Safety Textiles Acquisition GmbH, ITG Automotive Safety Textiles, LLC and ITG,
(iv) the purchase by any BST Group Member of flat fabric from ITG or any of its Subsidiaries at the then current European market price for such fabric, or (v) any other matter that has been consented to by the Agents. 
 Independent Director 
 The Board of Directors of each U.S. Member of the BST
Group shall at all times have one member who is an Independent Director. Each U.S. Member of the BST Group shall not take any vote requiring the consent of the Independent Director unless there is one Independent Director then serving. The
Independent Director’s power and authority shall be limited to his/her rights to vote on the matters relating to any amendment to the relevant member of the BST Group’s organisational documents and commencement of a voluntary bankruptcy
case, consent to the commencement of entry of an order for relief in an involuntary bankruptcy case, or the insolvency, winding-up or liquidation of such U.S. Member of the BST Group. An Independent Director may not be removed unless his or her
successor has been elected and has taken office. In the event of the death, incapacity or resignation of an Independent Director, the Board of Directors shall appoint a replacement Independent Director as soon as practicable. 
 Non-Reliance 
 The Parent shall procure that documentation evidencing any
future Financial Indebtedness of ITG includes a representation from the lenders extending such Financial Indebtedness that such lenders in extending credit to the ITG Group shall not rely on any present or future claim on the assets of the BST Group
and a covenant that such lenders shall not take any action that is inconsistent with such non-reliance. 
 Realignment 
 With effect from the date that the Agents give notice to the Lenders and the Parent that the documents and evidence referred to in Schedule 13 (Steps 5
to 8) have been delivered to them, the Finance Parties consent to the implementation of Steps 5 to 8. 
  

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 With effect from the date that the Agents give notice to the Lenders and the Parent that the documents
and evidence referred to in Schedule 14 (Step 9) have been delivered to them, the Finance Parties consent to the implementation of Step 9. 
 With effect from the date that the Agents give notice to the Lenders and the Parent that the documents and evidence referred to in Schedule 15 (Steps 10 to 14) have been delivered to them, the Finance Parties consent to the
implementation of Steps 10 to 14. 
 The Obligors undertake to the Finance Parties to only enter into documentation implementing Steps 5 to 14
which is in substantially the same form (minor and technical amendments which are not prejudicial to the Finance Parties excepted) as the documentation delivered to the Agents pursuant to paragraphs (a) to (c) above. 
 No Obligor may permit any document delivered by on or behalf of them to the Agents pursuant to paragraphs (a) to (c) above to be amended, waived
or supplemented without the consent of the Majority Lenders, except that the consent of the Majority Lenders will not be required for technical or minor amendments which would not be prejudicial to the interests of the Finance Parties. 

The Agents shall notify the Parent and the Lenders promptly upon satisfactory receipt of the documents and evidence pursuant to paragraphs (a) and
(c) above respectively. 
 The Parent shall procure that promptly following the Realignment Completion Date (i) the following
filings necessary to implement Steps 10, 13 and 14 are made with the relevant German commercial registers (Handelsregister), (ii) that certified (beglaubigte) copies of the respective filing documentation are provided to the
Agents, and (iii) that copies of the commercial register excerpts (Handelsregisterauszüge) certified by the relevant commercial register (Handelsregister) and evidencing registration of the following filings with the relevant
commercial register (Handelsregister) are provided to the Agents. The filings referred to above are filings in connection with: 
  

	 	(A)	the transfer of the operating assets of Automotive Safety Components International GmbH & Co. KG to BST Safety Textiles GmbH by way of “spin-off”
(Ausgliederung); 

  

	 	(B)	the increase of the registered share capital (Stammkapital) of BST Safety Textiles GmbH representing 0.1 % of the share capital of BST Safety Textiles GmbH and
subscription of such newly issued share by Automotive Safety Components International GmbH & Co. KG; 

  

	 	(C)	the increase of the registered share capital (Stammkapital) of the Original Borrower by contributing the shares in Automotive Safety Components International Verwaltungs GmbH
and partnership interests in Automotive Safety Components International GmbH & Co. KG to the Original Borrower and subscription of the newly issued share in the Original Borrower by the Parent; 

  

	 	(D)	the merger of Automotive Safety Components International Verwaltungs GmbH into the Original Borrower; and 

  

	 	(E)	termination of Automotive Safety Components International GmbH & Co. KG. 

  

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 The Parent shall procure that: 
 the assets and undertaking of any Obligor that are located in Poland become subject to Transaction Security as soon as practicable and in any event within
60 days of the Effective Date; 
 each of its Subsidiaries constituted under the laws of Mexico or the Czech Republic become Guarantors as
soon as practicable and in any event within 60 days of the Effective Date; 
 each of its Subsidiaries constituted under the laws of Romania
become Guarantors, and any assets of an Obligor located in Romania (including the shares of ITG Automotive Safety Romania S.R.L. owned by ITG Automotive Safety UK Limited) become subject to Transaction Security as soon as practicable and in any
event within 15 Business Days of the Effective Date; 
 ASCI Holdings Europe, Inc. gives Transaction Security in favour of the Security Agent
over its Stock in ITG Automotive Safety Czech s.r.o. in form and substance satisfactory to the Security Agent as soon as practicable and in any event within 30 days of the Effective Date; and 
  

	 	(v)	any ASCI Guarantor that owes Financial Indebtedness to ITG that is not party to the ASCI Subordination Deed accedes to it upon acceding to this Agreement. 

The Parent represents and warrants to each Finance Party that: 
 the documents delivered to the Agents in respect of the implementation of Steps 5 to 14 in respect of Schedules 13 (Steps 5 to 8), 14 (Step 9) and 15 (Steps 10 to 14) comprise drafts of all the documents implementing
those Steps and are true, accurate and complete copies of those drafts. The representation and warranty in this subparagraph is given on each date that the Agents give notice under paragraphs (a) to (c) above; 
 the documents and evidence delivered to the Agents in respect of paragraph 3 of Schedule 2 (Conditions Precedent) of the Amendment Agreement
comprise all of the material credit documents (including any amendments to them) to which ASCI or any Subsidiary of ASCI may be party and are true, accurate and complete copies of those credit documents; 
 all present and future liabilities (both actual and contingent and including any liability to any other borrower or guarantor by way of contribution or
indemnity) of, and any Security or guarantee given by, ASCI or any Subsidiary of ASCI under or in connection with the credit documents referred to in subparagraph (ii) above have been fully and irrevocably discharged; and 
 each of ASCI and its Subsidiaries has complied in all respects with Sections 151 to 158 of the United Kingdom Companies Act 1985 and any equivalent
legislation in other jurisdictions including in relation to the execution of the Transaction Security Documents and payment of amounts due under this Agreement, if applicable. 
 The representations and warranties made in subparagraphs (ii) and (iii) are given on the date that the Agents give notice under paragraph
(b) above and the representation and warranty made in subparagraph (iv) is made on each date on which ASCI and/or any of its Subsidiaries accedes as an Obligor. 
  

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 If the sale of the real estate registered with the land register (Grundbuch) of Bavenstedt,
Germany, of the local court (Amtsgericht) of Hildesheim, Germany, sheet (Blatt) no. 617 (the “German Real Estate”), has not been notarised until 31 May 2008, the Parent shall procure that the owner of the German
Real Estate (i.e. either Automotive Safety Components International GmbH & Co. KG or BST Safety Textiles GmbH): 
 (A) declares (in
form and substance satisfactory to the Security Agent) in notarial form the creation of a land charge to the Security Agent in the amount of EUR 2,700,000 (in words: Euro two million seven hundred thousand) (the “Notarial
Declaration”) until 13 June 2008, (B) within two (2) Business Days following the execution of the Notarial Declaration files with the relevant land register the Notarial Declaration, (C) uses its best efforts that the
land charge is registered with the relevant land register, and (D) upon registration of the land charge with the relevant land register (even, for the avoidance of doubt, if the land charge will by the time of its registration not rank first in
division III. of the relevant land register), provides the Security Agent with a certified land register excerpt (beglaubigter Grundbuchauszug); and 
 in order to effect that the land charge will rank first in division III. of the relevant land register, (A) at the latest, together with the filing of the Notarial Declaration, files with the relevant land
register the notarial declaration of Deutsche Bank Aktiengesellschaft, Hannover branch, dated 28 November 2003 regarding the deletion of land charges (Löschungsbewilligungen für Grundschulden) in the amount of DEM 3,000,000
each (in words: Deutsche Mark three million) created in favour of Deutsche Bank AG, Hannover branch and encumbering the German Real Estate; (B) uses its best efforts that such old land charges are deleted in the relevant land register, and
(C) upon deletion of such old land charges, provides the Security Agent with a certified land register excerpt (beglaubigter Grundbuchauszug) evidencing that such old land charges have been deleted and thus the new land charge created
pursuant to the Notarial Declaration ranks first in division III. of the relevant land register. 
 If the Lenders have granted their consent
(the “Realignment Consent”) to the implementation of each Step, each of the Parent, the Original Borrower, BST Safety Textiles GmbH, BST Breitgewebe International GmbH, BST Breitgewebe Verwaltungs GmbH and Automotive Safety
Components International GmbH & Co. KG undertakes to execute within four Business Days of the Realignment Consent: 
 a German law
governed confirmation agreement in the appropriate legal form between Parent, Original Borrower, BST Safety Textiles GmbH, BST Breitgewebe International GmbH, BST Breitgewebe Verwaltungs GmbH and Automotive Safety Components International
GmbH & Co. KG and the Security Agent relating to the share pledge and confirmation and amendment agreement relating to notarial security documents notarized on or about the date of the Amendment Agreement in Frankfurt am Main, Germany,
between Parent, Original Borrower, BST Safety Textiles GmbH, BST Breitgewebe International GmbH, BST Breitgewebe Verwaltungs GmbH and Automotive Safety Components International GmbH & Co. KG and the Security Agent (the “Share Pledge
and Confirmation and Amendment Agreement”); 
  

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 a German law governed non-notarial confirmation agreement between Original Borrower, BST Safety Textiles
GmbH, BST Breitgewebe International GmbH, Automotive Safety Components International GmbH & Co. KG and the Security Agent relating to: 
 a confirmation and amendment agreement relating to non-notarial security agreements dated on or about the date of the Amendment Agreement between Original Borrower, BST Safety Textiles GmbH, BST Breitgewebe International GmbH and the
Security Agent; 
 an account pledge agreement dated on or about the date of the Amendment Agreement between Automotive Safety Components
International GmbH & Co. KG and the Security Agent; 
 a security assignment of accounts receivables dated on or about the date of
the Amendment Agreement between Automotive Safety Components International GmbH & Co. KG and the Security Agent; 
 an assignment of
intellectual property rights by way of security (Sicherungsabtretung gewerblicher Schutzrechte) dated on or about the date of the Amendment Agreement between Automotive Safety Components International GmbH & Co. KG and the Security
Agent; 
 a security transfer agreement dated on or about the date of the Amendment Agreement between Automotive Safety Components
International GmbH & Co. KG and the Security Agent, (the agreements listed under (A) to (E) above, together with the Share Pledge and Confirmation and Amendment Agreement the “New German Security Agreements”),

 both confirmation agreements confirming that Lenders have granted the Realignment Consent and that, due thereto, the conditions precedents
(aufschiebende Bedingungen) contained in the New German Security Agreements have been met and, as a result, the declarations made by the parties to the New German Security Agreements are fully effective as of the date of their execution.
Clause 28.3(b) (Other Obligations) does not apply to any failure to comply with the provisions of this undertaking. 
  

	 	(l)	The Parent shall: 

 procure that an Obligor enters into a
supply agreement with Safety Components Fabric Textile International on arm’s length terms and deliver a copy of it to the Agents within 30 days of the Effective Date; 
 (A) use its best efforts to ensure that a member of the BST Group is or becomes a party to any global framework or similar agreements with the TRW group,
the Autoliv group or any customers whose custom accounts for 5.0% or more of the BST Group’s sales (as shown in the pro forma and/or annual accounts of the BST Group, assuming that the Realignment has occurred); and (B) notify the Agents
of the execution of such agreements within 30 days of the same; 
 within 30 days of the Realignment Completion Date, provide to the Lenders
(and the financial adviser to the Lenders) all such financial information as the Lenders may reasonably require in order to verify the representations in Clause 24.12 (No misleading information) given on the Effective Date in respect of the
Realignment Information Package; 
  

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	(iv)	  	(A)	  	exercise its rights under or in connection with (I) the exchange agreement (the “Exchange Agreement”) dated on or about the date of the Amendment Agreement between the
Parent and ITG in connection with the transfer of ASCI, (II) the Transaction Security in respect of the Exchange Agreement, and (III) ensure that any payment, indemnity, guarantee or similar obligations (other than a settlement amount payment
pursuant to paragraph 5 of Schedule 1 to the Exchange Agreement) of the Parent to ITG under or arising out of the Exchange Agreement are subordinated on terms satisfactory to the Majority Lenders; and
			
		  	(B)	  	use best efforts to cause that ITG complies with its obligations under the Exchange Agreement and any acknowledgement or similar document in connection with the Transaction Security referred
to above,
		
		  	in a proper and prompt manner consistent with its obligations under the Finance Documents and as reasonably directed by the Security Agent under the Transaction Security (and
acknowledgements or similar documents) referred to above;
		
	(v)	  	procure that:
			
		  	(A)	  	a copy of any fair valuation report that may be required by the applicable commercial registry in Germany in connection with Steps 4 and 13, if any, is delivered to the Agents promptly
following the day it is filed with such commercial registry;
			
		  	(B)	  	the global property insurance policy number required in connection with the Transaction Security given by ITG Automotive Safety UK Ltd is provided to the Security Agent as soon as practicable
and in any event within 30 days of the Effective Date;
			
		  	(C)	  	the FEIN registration for NewCo Narricot is made as soon as practicable and in any event within 10 days of the Effective Date, and a copy of the notification of registration is provided to
the Agents promptly following the day of registration;
			
		  	(D)	  	a legal opinion from legal counsel to the Parent in form and substance satisfactory to the Security Agent is provided to the Security Agent in respect of Safety Components Fabric Textile
International’s and ITG’s entry into the ASCI Subordination Deed; and
			
		  	(E)	  	copies of executed counterparts of each lease assignment and assumption to be between, among others, Narricot and ITG Automotive Safety Textles LLC in respect of the Broad Street in
Murfreesbora North Carolina and Jaymour Road in Southampton Pennsylvania properties respectively are delivered to the Agents as soon as practicable and in any event within 30 days of the Effective Date.

  

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 EVENTS OF DEFAULT 
 Each of the events or circumstances set out in Clause 28 is an Event of Default. 
 Non-payment 
 An Obligor does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed to be payable
unless: 
 its failure to pay is caused by administrative or technical error and payment is made within three Business Days of its due date;
or 
 its failure to pay is caused by a Disruption Event and payment is made within five Business Days of its due date. 
 Financial covenants and other obligations 
 Any requirement
of Clause 26 (Financial covenants) is not satisfied. 
 An Obligor does not comply with any provision of any Transaction Security
Document. 
 The Realignment Completion Date does not occur on or before 18 April 2008. 
 An Obligor does not comply with Clause 27.37(d). 
 New senior management is not appointed to Narricot (or its successor entities including NewCo Narricot LLC) within 180 days of the Effective Date. 
 ITG does not comply with its payment and/or other material obligations under the Exchange Agreement (as defined in Clause 27.37(l)(iv)(A) (Realignment). 
 The Chinese airbag business (as more particularly described in the Realignment Information Package) is not carried out within the BST Group except for any
commission finishing services (limited to laminating, cutting, assembly, scouring, coating and inspection services) carried out on arm’s length terms by Jiaxing Burlington Textile Company Limited. 
 Other obligations 
 An Obligor does not comply with any
provision of the Finance Documents (other than those referred to in Clause 28.1 (Non-payment) and Clause 28.2(a) to (f) (Financial covenants and other obligations)). 
 No Event of Default under paragraph (a) above will occur if the failure to comply is capable of remedy and is remedied within 15 Business Days of the
Agent giving notice to the Parent or relevant Obligor or the Parent or an Obligor becoming aware of the failure to comply. 
 Misrepresentation 

Any representation or statement made or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under
or in connection with any Finance Document is or proves to have been incorrect or misleading when made or deemed to be made unless the circumstances giving rise to such representation or statement being incorrect or misleading are capable of remedy
and are so remedied within 15 Business Days of the relevant Agent giving notice to the Parent or relevant Obligor or the Parent or an Obligor becoming aware of the failure to comply. 
  

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 Cross default 
 Any Financial Indebtedness of any Material Company is not paid when due nor within any originally applicable grace period. 
 Any
Financial Indebtedness of any Material Company is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described). 
 Any commitment for any Financial Indebtedness of any Material Company is cancelled or suspended by a creditor of any Material Company as a result of an
event of default (however described). 
 Any creditor of any Material Company becomes entitled to declare any Financial Indebtedness of any
Material Company due and payable prior to its specified maturity as a result of an event of default (however described). 
 No Event of
Default will occur under this Clause 28.5 if the Financial Indebtedness is due to another member of the BST Group or if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to
(d) above is less than EUR 5,000,000 (or its equivalent). 
 Insolvency 
 Any Material Company (other than a German Obligor) is unable or admits inability to pay its debts as they fall due or is deemed to or declared to be unable to pay its debts under applicable law, suspends or threatens
to suspend making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness. 
 The value of the assets of any Material Company (other than a German Obligor) is less than its liabilities (taking into account contingent and prospective
liabilities). 
 A moratorium is declared in respect of any indebtedness of any Material Company (other than a German Obligor). If a
moratorium occurs, the ending of the moratorium will not remedy any Event of Default caused by that moratorium. 
 Insolvency proceedings 
 Any corporate action, legal proceedings or other procedure or step is taken in relation to: 
 the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement,
scheme of arrangement or otherwise) (including concurso mercantil and quiebra under Mexican law) of any of any Material Company (other than a German Obligor) other than a solvent liquidation or reorganisation of the Parent or any
member of the BST Group which is not an Obligor; 
 a composition, compromise, assignment or arrangement with any Material Company (other than
a German Obligor); 
  

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 the appointment of a liquidator (other than in respect of a solvent liquidation of a member of the BST
Group which is not an Obligor), receiver, administrative receiver, administrator, compulsory manager or other similar officer in respect of any Material Company (other than a German Obligor) or any of its assets; or 
 enforcement of any Security over any assets of any Material Company, 
 or any analogous procedure or step is taken in any jurisdiction. 
 Paragraph (a) shall not apply to:

 any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within 21 days of commencement or, if
earlier, the date on which it is advertised; or 
 any step or procedure contemplated by paragraph (b) of the definition of Permitted
Transaction. 
 German Insolvency 
 A German Obligor or any
German member of the BST Group (i) becomes insolvent (ii) a German Obligor or any German member of the BST Group’s insolvency is imminent or (iii) a German Obligor or any German member of the BST Group is over-indebted,
respectively, each in accordance with sections 17, 18 or 19 of the German Insolvency Code (Insolvenzordnung), or (iv) an application for the opening of insolvency proceedings over a German Obligor’s or any German member of the BST
Group’s assets has been made or (v) similar proceedings in any other jurisdiction have been opened unless any application for the opening of insolvency proceedings or similar proceedings is frivolous or vexatious
(rechtsmißbräuchlich oder offensichtlich unbegründet) and is discharged or dismissed within 14 days of its submission to the court or any event analogous to those detailed in Clause 28.6 (Insolvency) or Clause 28.7
(Insolvency Proceedings) occurs in respect of a German Obligor. 
 Creditors’ process 
 Any expropriation, attachment, sequestration, distress or execution or any analogous process in any jurisdiction affects any asset or assets of any member of the BST
Group having an aggregate value of EUR 5,000,000 (or its equivalent) and is not discharged within 21 days. 
 Unlawfulness and invalidity 
 It is or becomes unlawful for an Obligor or, in the case of the Intercreditor Deed, any member of the BST Group that is party to the Intercreditor Deed to
perform any of its material obligations under the Finance Documents or any Transaction Security created or expressed to be created or evidenced by the Transaction Security Documents ceases to be effective or any subordination created under the
Intercreditor Deed is or becomes unlawful. 
 Subject to the Legal Reservations any obligation or obligations of any Obligor under any Finance
Documents or any member of the BST Group under the Intercreditor Deed are not or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the
Finance Documents. 
 Any Finance Document ceases to be in full force and effect or any Transaction Security or any subordination created
under the Intercreditor Deed ceases to be legal, valid, 

  

 129 

 
binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective and such cessation materially and adversely
affects the interests of the Lenders under the Finance Documents. 
 Intercreditor Deed 
 Any member of the BST Group that is party to the Intercreditor Deed fails to comply with the provisions of, or does not perform its obligations under, the Intercreditor Deed and, if the non-compliance is capable of
remedy, it is not remedied within 15 days of the earlier of the relevant Agent giving notice to that party or that party becoming aware of the non-compliance. 
 Cessation of business 
 Any Material Company suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of
its business save as contemplated pursuant to the Permitted Reorganisation Transaction. 
 Change of ownership 
 After the Closing Date, an Obligor (other than the Parent) ceases to be a wholly-owned Subsidiary of the Parent; or 
 An Obligor ceases to own at least the same percentage of shares in a Material Company as on the Closing Date, 
 except, in either case, as a result of a disposal which is a Permitted Disposal or a Permitted Transaction or contemplated pursuant to the Permitted
Reoganisation Transaction. 
 Amending articles of association 
 Any member of the BST Group amends, varies, supplements, supersedes, waives or terminates its Constitutional Documents without the prior written consent of the Majority Lenders unless such an amendment is not materially prejudicial to the
interests of the Finance Parties or relates to a change to its legal name to include the words “ITG Automotive Safety” or words to a similar effect provided that where an amendment relates to the appointment of an Independent Director and
his/her related voting rights the prior written consent of the Majority Lenders shall always be required. 
 Audit qualification 
 The Auditors of the BST Group qualify the audited annual consolidated financial statements of the Parent where the Majority Lenders determine (acting reasonably) that
such qualification is materially adverse to the interests of the Finance Parties. 
 Expropriation 
 The authority or ability of the BST Group taken as whole to conduct its business is limited or wholly or substantially curtailed by any seizure, expropriation,
nationalisation, intervention, restriction or other action by or on behalf of any Governmental Authority in relation to any member of the BST Group or any of its assets, in any such case where the Majority Lenders determine (acting reasonably) that
such qualification is materially adverse to the interests of the Finance Parties. 
 Repudiation and rescission of agreements 
 An Obligor (or any other relevant party) rescinds or purports to rescind or repudiates or purports to repudiate a Finance Document or any of the
Transaction Security or evidences an intention to rescind or repudiate a Finance Document or any Transaction Security. 
  

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 Any party to the Acquisition Documents, the Subscription Agreements or the Intercreditor Deed rescinds or
purports to rescind or repudiates or purports to repudiate any of those agreements or instruments in whole or in part, or any obligation thereunder is not or ceases to be legal, valid binding or enforceable, where to do so has or is, in the
reasonable opinion of the Majority Lenders, likely to have a material adverse effect on the interests of the Lenders under the Finance Documents. 
 Litigation 
 Any litigation, arbitration, administrative, governmental, regulatory or other investigations, proceedings or disputes are commenced or
threatened in relation to the Transaction Documents or the transactions contemplated in the Transaction Documents or against any member of the BST Group or its assets which has or is reasonably likely to have a Material Adverse Effect. 

Material adverse change 
 Any event or circumstance occurs which the
Majority Lenders reasonably believe has or is reasonably likely to have a Material Adverse Effect. 
 Acceleration 
 Subject to Clause 28.21 (Clean-up Period), on and at any time after the occurrence of an Event of Default and while the same is continuing the
Priority Agent may, and shall if so directed by: 
 in the case of a Priority Major Event of Default, the Majority Priority Lenders; or

 in the case of an Event of Default other than a Priority Major Event of Default, the Majority Lenders, 
 by notice to the Parent: 
 cancel the Total
Commitments at which time they shall immediately be cancelled; 
 declare that all or part of the Loans, together with accrued interest, and
all other amounts accrued or outstanding under the Finance Documents be immediately due and payable, at which time they shall become immediately due and payable; 
 declare that all or part of the Loans be payable on demand, at which time they shall immediately become payable on demand by the relevant Agent on the instructions of the Relevant Majority Lenders; and/or 

exercise or direct the Security Agent to exercise any or all of its rights, remedies, powers or discretions under the Finance Documents. 
 Subject to Clause 28.21 (Clean-up Period) and the terms of the Intercreditor Deed, on and at any time after the occurrence of a Second Lien Major
Event of Default and while the same is continuing the Second Lien Agent may, and shall if so directed by the Majority Second Lien Lenders, by notice to the Parent: 
 cancel the Total Second Lien Facility Commitments at which time they shall immediately be cancelled; 
  

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 declare that all or part of the Second Lien Facility Loans, together with accrued interest, and all other
amounts accrued or outstanding under the Second Lien Facility under the Finance Documents be immediately due and payable, at which time they should become immediately due and payable; 
 declare that all or part of the Second Lien Facility Loans be payable on demand, at which time they shall immediately become payable on demand by the
Second Lien Agent on the instructions of the Majority Second Lien Lenders; and/or 
 exercise or direct the Security Agent to exercise any or
all of its rights, remedies, powers or discretions under the Finance Documents. 
 Clean-up Period 
 If, during the Clean-up Period, any event or circumstance with respect to any member of the Target Group occurs which would constitute an Event of Default (the
“Potential Event of Default”), then: 
 The Parent promptly after becoming aware shall notify the Agents of that fact in
writing, giving a reasonable description of the Potential Event of Default, its causes and the remedial action in relation to it which the Parent, the Original Borrower and/or the Target Group propose to take; and 
 that Potential Event of Default shall not constitute an Event of Default for the purposes of Clause 28.20 (Acceleration) (and the Agents shall not
with respect to that Potential Event of Default be entitled to take any of the actions set out in Clause 28.20 (Acceleration), but for the avoidance of doubt not so as to restrict the Agent’s rights to take such action with respect to
any other Event of Default that is not a Potential Event of Default) until (assuming that the Potential Event of Default is then continuing) the earlier of the date immediately following the end of the Clean-up Period or (if earlier) the date upon
which a Material Adverse Effect occurs, provided that the foregoing shall not apply to: 
 any Event of Default under any of Clauses 28.1
(Non-payment), 28.6 (Insolvency), 28.7 (Insolvency proceedings), 28.9 (Creditors’ process), 28.10 (Unlawfulness and invalidity), 28.11 (Intercreditor Deed), 28.16 (Expropriation) and 28.17
(Repudiation and rescission of agreements); or 
 any Event of Default which has been procured or approved by the Original Borrower or
which it (or any member of the Target Group) is not using reasonable endeavours to avoid and/or remedy. 
 Merger 
 The Finance Parties hereby agree that the Merger shall not in and of itself constitute an Event of Default. 
 Injunctive relief 
 For the avoidance of doubt and notwithstanding any other Clause of this Agreement, in the event of any
breach of Clause 26 (Financial covenants) and/or Clause 27 (General Undertakings), the Finance Parties shall not be entitled to exercise or request any remedies requiring the specific performance by any Obligor of the covenants set out
therein, including, without limitation, by means of injunctive relief (Unterlassungsanspruch). 
  

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 SECTION 9 
 CHANGES TO PARTIES 
 CHANGES TO THE LENDERS 
 Assignments and transfers by the Lenders 
 Subject to this Clause 29, a Lender (the “Existing Lender”) may:

 assign any of its rights; or 
 transfer by novation any of its rights and obligations, 
 under any Finance Document to another bank or financial institution or to a trust, fund
or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (the “New Lender”); provided that the minimum amount to be
transferred in respect of any Term Facility Commitment shall be EUR 500,000 and in respect of a Revolving Facility Commitment EUR 2,500,000 and provided that, until completion of primary syndication of the Facilities, the Existing Lender shall
consult with the Parent with regard to the identity of the New Lender unless (i) the assignment or transfer is to another Lender or an Affiliate of a Lender or to any fund managed by the same management or investment adviser, or (ii) an
Event of Default has occurred and is continuing. 
 Conditions of assignment or transfer 
 An assignment or transfer will only be effective on: 
 receipt by the relevant Agent of written confirmation from the New Lender (in form and substance satisfactory to the relevant Agent) that the New Lender will assume the same obligations to the other Finance Parties and the other Secured
Parties as it would have been under if it was an Original Lender; 
 the New Lender entering into the documentation required for it to accede
as a party to the Intercreditor Deed; 
 the performance by the relevant Agent of all “know your customer” or other checks relating
to any person that it is required to carry out in relation to such assignment to a New Lender, the completion of which the relevant Agent shall promptly notify to the Existing Lender and the New Lender; 
 Subject to Clause 29.1 (Assignments and transfers by the Lenders) above, the consent of the Parent is required to any transfer by a Lender unless
the transfer is to a Lender or a Lender’s Affiliate or any person whose investment adviser is or shall be a Lender or an Affiliate of a Lender provided that: 
 no consent is required if an Event of Default is continuing; 
 the Parent must not unreasonably withhold or
delay its consent to a transfer (and it will be deemed to have given its consent five Business Days after the Lender has requested it unless consent is expressly refused by the Parent within that time); and 
 the Parent must not withhold consent to a transfer solely because the transfer may result in an increase to the Mandatory Cost. 
  

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 A transfer will only be effective if the New Lender enters into the documentation required for it to
accede as a party to the Intercreditor Deed and if the procedure set out in Clause 29.5 (Procedure for transfer) is complied with. 
 If: 
 a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its Facility Office; and

 as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would be obliged to make a payment
to the New Lender or Lender acting through its new Facility Office under Clause 18 (Tax gross-up and indemnities) or Clause 19 (Increased Costs), 
 then the New Lender or Lender acting through its new Facility Office is only entitled to receive payment under those Clauses to the same extent as the Existing Lender or Lender acting through its previous Facility
Office would have been if the assignment, transfer or change had not occurred. 
 With respect to any U.S. Loan, the Agents shall, solely for
this purpose acting on behalf of the relevant U.S. Borrower, maintain a register for the recordation of the names and addresses of the Lenders and the amount of the U.S. Loan and the Commitment relating to each Lender. The entries in such register
shall be conclusive, in the absence of manifest error, and the relevant U.S. Borrower, the Agent and the Lenders shall treat each person whose name is recorded in such register as the owner of the U.S. Loan for the purposes of this Agreement. Any
assignment or transfer of a U.S. Loan shall be effective only upon appropriate entries with respect thereto being made in the register. 
 Nothing in this agreement will restrict the ability of a Lender to sub-participate or sub-contract any of its rights or obligations under any Finance Document. 
 Assignment or transfer fee 
 Unless the Agents otherwise agrees and excluding an assignment or transfer to an Affiliate of a
Lender or made in connection with primary syndication of the Facilities, the New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the relevant Agent (for its own account) a fee of EUR 1,500. 
 Limitation of responsibility of Existing Lenders 
 Unless
expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: 
 the legality, validity, effectiveness, adequacy or enforceability of the Transaction Documents, the Transaction Security or any other documents; 
 the financial condition of any Obligor; 
 the performance and observance by any Obligor or any other member
of the BST Group of its obligations under the Transaction Documents or any other documents; or 
 the accuracy of any statements (whether
written or oral) made in or in connection with any Transaction Document or any other document, and any representations or warranties implied by law are excluded. 
  

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 Each New Lender confirms to the Existing Lender, the other Finance Parties and the Secured Parties that
it: 
 has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each
Obligor and its related entities in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender or any other Finance Party in connection with any Transaction Document or
the Transaction Security; and 
 will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related
entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. 
 Nothing in any Finance
Document obliges an Existing Lender to: 
 accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred
under this Clause 29; or 
 support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any
Obligor of its obligations under the Transaction Documents or otherwise. 
 Procedure for transfer 
 Subject to the conditions set out in Clause 29.2 (Conditions of assignment or transfer) a transfer is effected in accordance with paragraph
(c) below when the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the New Lender. The relevant Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after
receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Transfer Certificate. 
 The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and the New Lender once it is satisfied it has
complied with all necessary “know your customer” or similar other checks under all applicable laws and regulations in relation to the transfer to such New Lender. 
 On the Transfer Date: 
 to the extent that in
the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and obligations under the Finance Documents and in respect of the Transaction Security each of the Obligors and the Existing Lender shall be released from further
obligations towards one another under the Finance Documents and in respect of the Transaction Security and their respective rights against one another under the Finance Documents and in respect of the Transaction Security shall be cancelled (being
the “Discharged Rights and Obligations”); 
 each of the Obligors and the New Lender shall assume obligations towards one
another and/or acquire rights against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor or other member of the BST Group and the New Lender have assumed and/or acquired the same in place of that Obligor
and the Existing Lender; 
  

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 the relevant Agent, the Mandated Lead Arranger, the Security Agent, the New Lender, the other Lenders and
any relevant Ancillary Lender shall acquire the same rights and assume the same obligations between themselves and in respect of the Transaction Security as they would have acquired and assumed had the New Lender been an Original Lender with the
rights, and/or obligations acquired or assumed by it as a result of the transfer and to that extent the relevant Agent, the Mandated Lead Arranger, the Security Agent and any relevant Ancillary Lender and the Existing Lender shall each be released
from further obligations to each other under the Finance Documents; and 
 the New Lender shall become a Party as a “Lender”.

 Copy of Transfer Certificate to Parent 
 The relevant Agent
shall, as soon as reasonably practicable after it has executed a Transfer Certificate, send to the Parent a copy of that Transfer Certificate. 
 Disclosure
of information 
 Any Lender may disclose to any of its Affiliates and any other person: 
 to (or through) whom that Lender assigns or transfers (or may potentially assign or transfer) all or any of its rights and obligations under the Finance
Documents; 
 with (or through) whom that Lender enters into (or may potentially enter into) any sub-participation in relation to, or any
other transaction under which payments are to be made by reference to, the Finance Documents or any Obligor; or 
 to whom, and to the extent
that, information is required to be disclosed by any applicable law or regulation or at the request of any regulatory authority; or 
 for
whose benefit that Lender charges, assigns or otherwise creates a Security Interest (or may do so) pursuant to Clause 29.9 (Security Interests over Lenders’ rights); and 
 any Finance Party may disclose to a rating agency or its professional advisers, or (with the consent of the Original Borrower) any other person,

 any information about any Obligor, the BST Group and the Finance Documents as that Lender or other Finance Party shall consider appropriate if in relation
to paragraphs (a)(i) and (ii) above, the person to whom the information is to be given has entered into a Confidentiality Undertaking. 
 Any
Confidentiality Undertaking signed by a Finance Party pursuant to this Clause 29.7 shall supersede any prior confidentiality undertaking signed by such Finance Party for the benefit of any member of the BST Group. 
  

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 Affiliates of Lenders as Hedge Counterparties 
 An Affiliate of a Lender which becomes a Hedge Counterparty shall accede to this Agreement and to the Intercreditor Deed by delivery to the Security Agent
of a duly completed accession undertaking in the form required under the Intercreditor Deed. 
 Where this Agreement or any other Finance
Document imposes an obligation on a Hedge Counterparty and the relevant Hedge Counterparty is an Affiliate of a Lender and is not a party to that document, the relevant Lender shall ensure that the obligation is performed by its Affiliate.

 Security Interests over Lenders’ rights 
 In addition to
the other rights provided to Lenders under this Clause 29, each Lender may without consulting with or obtaining consent from any Obligor, at any time charge, assign or otherwise create a Security Interest in or over (whether by way of collateral or
otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: 
 any
charge, assignment or other Security Interest to secure obligations to a federal reserve or central bank; and 
 in the case of any Lender
which is a fund, any charge, assignment or other Security Interest granted to any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as security for those obligations or securities,

 except that no such charge, assignment or Security Interest shall: 
 release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or Security Interest for the Lender as a party to any of the Finance Documents;
or 
 require any payments to be made by an Obligor or grant to any person any more extensive rights than those required to be made or granted
to the relevant Lender under the Finance Documents. 
 Facility Office 
 A Lender or the Issuing Bank may change its Facility Office subject to Clause 29.2 (Conditions of Assignment or Transfer). 
 Romanian
Guarantors 
 Each Romanian Guarantor: 
 agrees that in case of any assignment or transfer, including by way of novation, of all or any part of the rights and obligations under the Finance Documents, the Finance Parties and their successors and assignees/transferees reserve their
rights with respect to the guarantees created under the Finance Documents and the security interests created in the Transaction Security in accordance with Article 1134 of the Romanian Civil Code and the Title VI on the legal regime of real movable
security of Law No. 99 of 26 May 1999; 
 confirms and agrees that the guarantees and security interests shall be considered in full
force and effect until the irrevocable and unconditional discharge of all obligations under the Finance Documents without being affected by any amendments of the Finance 

  

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Documents, whether by way of novation or otherwise, including any addition or replacement of any Finance Parties and shall continue for the benefit of any
successors and assignees/transferees of the Finance Parties and the remaining Finance Parties; and 
 agrees and confirms that following any
transfer by novation in accordance with Clause 29.5 (Procedure for transfer) by an Existing Lender to a New Lender of the Existing Lender’s Commitment, rights and obligations, in relation to any Transaction Security Document (and any
Transaction Security under them) expressed to be governed by Romanian law are preserved in accordance with Article 1134 of the Romanian Civil Code and the Title VI on the legal regime of real movable security of Law No. 99 of 26 May 1999
and produce full effects in favour of the New Lender by maintaining the same rights and priority ranking as originally created for the Existing Lender, in accordance with and as allowed by Article 1134 et sequitor of the Romanian Civil Code and by
Title VI on the legal regime of real movable security of Law No. 99 of 26 May 1999. The guarantee of the Romanian Guarantor under this Agreement will remain in full force and effect. 
 CHANGES TO THE OBLIGORS 
 Assignment and transfers by Obligors

 No Obligor or any other member of the BST Group may assign any of its rights or transfer any of its rights or obligations under the Finance Documents.

 Additional Borrowers 
 Subject to compliance
with the provisions of paragraphs (c) and (d) of Clause 25.10 (“Know your customer” checks), the Parent may request that any of its wholly owned Subsidiaries which is not a Dormant Subsidiary becomes a Borrower. That
Subsidiary shall become a Borrower if: 
 all the Lenders approve the addition of that Subsidiary; 
 the Parent and that Subsidiary deliver to the relevant Agent a duly completed and executed Accession Letter; 
 Subject to the guarantee limitations in this Agreement, the Subsidiary is (or becomes) a Guarantor prior to becoming a Borrower; 
 the Parent confirms that no Default is continuing or would occur as a result of that Subsidiary becoming an Additional Borrower; and 
 the Agents have received all of the documents and other evidence listed in Part II and, if applicable, Part III of Schedule 2 (Conditions
precedent) in relation to that Additional Borrower, each in form and substance satisfactory to the Agent. 
 The Agents shall notify the
Parent and the Lenders promptly upon being satisfied that it has received (in form and substance satisfactory to it) all the documents and other evidence listed in Part II and, if applicable, Part III of Schedule 2 (Conditions precedent).

  

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 Resignation of a Borrower 
 In this Clause 30.3, Clause 30.5 (Resignation of a Guarantor) and Clause 30.7 (Resignation and release of Security on disposal), “Third Party Disposal” means the disposal of an Obligor
(other than any Original Obligor or the Target) to a person which is not a member of the BST Group where that disposal is permitted under Clause 27.16 (Disposals) or made with the approval of the Majority Lenders (and the Parent has confirmed
this is the case). 
 With the prior consent of all the Lenders, the Parent may request that a Borrower (other than itself) ceases to be a
Borrower by delivering to the Priority Agent a Resignation Letter. In addition, if a Borrower is the subject of a Third Party Disposal, the Parent may request that such Borrower ceases to be a Borrower by delivering to the Agents a Resignation
Letter. 
 The Agents shall accept a Resignation Letter and notify the Parent and the other Finance Parties of its acceptance if: 

the Parent has confirmed that no Default is continuing or would result from the acceptance of the Resignation Letter; 
 the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents; 
 where the Borrower is also a Guarantor (unless its resignation has been accepted in accordance with Clause 30.5 (Resignation of a Guarantor)), its
obligations in its capacity as Guarantor continue to be legal, valid, binding and enforceable and in full force and effect (subject to the Legal Reservations) and the amount guaranteed by it as a Guarantor is not decreased (the Original Borrower has
confirmed this is the case); and 
 the Parent has confirmed that it shall ensure that any relevant Disposal Proceeds will be applied in
accordance with Clause 12.3 (Application of mandatory prepayments). 
 The Agents shall further accept a Resignation Letter and notify
the Parent and the other Finance Parties of its acceptance where such Resignation Letter is necessary to complete a Step. 
 Upon notification
by the Agents to the Parent of its acceptance of the resignation of a Borrower, that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents as a Borrower except that the resignation shall not
take effect (and the Borrower will continue to have rights and obligations under the Finance Documents) until the date on which the Third Party Disposal takes effect. 
 The Agents may, at the cost and expense of the Parent, require a legal opinion from counsel to the Agents confirming the matters set out in paragraph (c)(iii) above and the Agents shall be under no obligation to
accept a Resignation Letter until it has obtained such opinion in form and substance satisfactory to it. 
  

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 Additional Guarantors 
 Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 25.11 (“Know your customer” checks), the Original Borrower may request that any of its wholly owned
Subsidiaries become a Guarantor. 
 the Original Borrower shall ensure that each member of the BST Group identified in Part III of
Schedule 2 (Conditions Precedent) as an Additional Obligor shall become an Additional Guarantor and shall grant the Transaction Security identified opposite the name of that member of the BST Group in Part III of Schedule 2 (Conditions
Precedent) on or prior to the date specified in Part III of that Schedule. 
 Subject to the Security Principles, the Parent shall procure
that any other member of the BST Group which is a Material Company as soon as possible after becoming a Material Company, shall become an Additional Guarantor and grant Security as the Agent may require and shall accede to the Intercreditor Deed.

 A member of the BST Group shall become an Additional Guarantor if: 
 the Parent and the proposed Additional Guarantor deliver to the Agent a duly completed and executed Accession Letter; and 
 the Agents have received all of the documents and other evidence listed in Part II and, if applicable, Part III of Schedule 2 (Conditions
Precedent) in relation to that Additional Guarantor, each in form and substance satisfactory to the Agent. 
 The Agents shall notify the
Parent and the Lenders promptly upon being satisfied that they have received (in form and substance satisfactory to it) all the documents and other evidence listed in Part II and, if applicable, Part III of Schedule 2 (Conditions precedent).

 Resignation of a Guarantor 
 The Parent may
request that a Guarantor (other than any Original Obligor or the Target) ceases to be a Guarantor by delivering to the Agents a Resignation Letter if: 
 that Guarantor is being disposed of by way of a Third Party Disposal (as defined in Clause 30.3 (Resignation of a Borrower)) and the Original Borrower has confirmed this is the case; or 
 all the Lenders have consented to the resignation of that Guarantor. 
 The Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 
 the
Parent has confirmed that no Default is continuing or would result from the acceptance of the Resignation Letter; 
 no payment is due from
the Guarantor under Clause 23.1 (Guarantee and indemnity); 
 where the Guarantor is also a Borrower, it is under no actual or
contingent obligations as a Borrower and has resigned and ceased to be a Borrower under Clause 30.3 (Resignation of a Borrower); and 
  

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 the Original Borrower has confirmed that it shall ensure that the Disposal Proceeds will be applied, in
accordance with Clause 12.3 (Application of mandatory prepayments). 
 The Agents shall further accept a Resignation Letter and notify
the Parent and the other Finance Parties of its acceptance where such Resignation Letter is necessary to complete a Step. 
 The resignation
of that Guarantor shall not be effective until the date of the relevant Third Party Disposal at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents as a Guarantor.

 Repetition of Representations 
 Delivery of an Accession
Letter constitutes confirmation by the relevant Subsidiary that the representations and warranties referred to in paragraph (e) of Clause 24.30 (Times when representations made) are true and correct in relation to it as at the date
of delivery as if made by reference to the facts and circumstances then existing. 
 Resignation and release of security on disposal 
 If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then: 
 where that Borrower or Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security
in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent shall, at the cost and request of the Original Borrower, promptly release those assets, business or shares (or equivalent)
and issue certificates of non-crystallisation; 
 the resignation of that Borrower or Guarantor and related release of Transaction Security
referred to in paragraph (a) above shall not become effective until the date of that disposal; and 
 if the disposal of that Borrower or
Guarantor is not made, the Resignation Letter of that Borrower or Guarantor and the related release of Transaction Security referred to in paragraph (a) above shall have no effect and the obligations of the Borrower or Guarantor and the
Transaction Security created or intended to be created by or over that Borrower or Guarantor shall continue in full force and effect. 
  

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 SECTION 10 
 THE FINANCE PARTIES 
 ROLE OF THE PRIORITY AGENT, THE SECOND LIEN AGENT, THE MANDATED

 LEAD ARRANGER, THE ISSUING BANK AND OTHERS 
 Appointment of the Priority Agent 
 Each of the Mandated Lead Arrangers, the Priority Lenders and the Issuing Bank appoints the
Priority Agent to act as its agent under and in connection with the Finance Documents. 
 Each of the Mandated Lead Arrangers, the Priority
Lenders and the Issuing Bank authorises the Priority Agent to exercise the rights, powers, authorities and discretions specifically given to the Priority Agent under or in connection with the Finance Documents together with any other incidental
rights, powers, authorities and discretions. 
 Duties of the Priority Agent 
 The Priority Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Priority Agent for that Party by any other Party. 
 Except where a Finance Document specifically provides otherwise, the Priority Agent is not obliged to review or check the adequacy, accuracy or
completeness of any document it forwards to another Party. 
 If the Priority Agent receives notice from a Party referring to this Agreement,
describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties. 
 If the
Priority Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the Priority Agent, the Mandated Lead Arranger or the Security Agent) under this Agreement it shall promptly
notify the other Finance Parties. 
 The Priority Agent’s duties under the Finance Documents are solely mechanical and administrative in
nature. 
 Appointment of the Second Lien Agent 
 Each of the Mandated Lead Arrangers and the Second Lien Lenders appoints the Second Lien Agent to act as its agent under and in connection with the Finance Documents. 
 Each of the Mandated Lead Arrangers and the Second Lien Lenders authorises the Second Lien Agent to exercise the rights, powers, authorities and
discretions specifically given to the Second Lien Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 
 Duties of the Second Lien Agent 
 The Second Lien Agent shall promptly forward to a Party the original or a
copy of any document which is delivered to the Second Lien Agent for that Party by any other Party. 
  

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 Except where a Finance Document specifically provides otherwise, the Second Lien Agent is not obliged to
review or check the adequacy, accuracy or completeness of any document it forwards to another Party. 
 If the Second Lien Agent receives
notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties. 
 If the Second Lien Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the
Second Lien Agent, the Mandated Lead Arranger or the Security Agent) under this Agreement it shall promptly notify the other Finance Parties. 
 The Second Lien Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. 
 Role of the Mandated Lead
Arranger 
 Except as specifically provided in the Finance Documents, the Mandated Lead Arranger has no obligations of any kind to any other Party under or in
connection with any Finance Document. 
 No fiduciary duties 
 Nothing in this Agreement constitutes the Agent, the Mandated Lead Arranger and/or the Issuing Bank as a trustee or fiduciary of any other person. 
 None of the Agents, the Security Agent, the Mandated Lead Arranger, the Issuing Bank or any Ancillary Lender shall be bound to account to any Lender for
any sum or the profit element of any sum received by it for its own account. 
 Business with the BST Group 
 The Agents, the Security Agent, the Mandated Lead Arrangers, the Issuing Bank and each Ancillary Lender may accept deposits from, lend money to and
generally engage in any kind of banking or other business with any member of the BST Group. 
 Each Lender hereby represents and warrants to
each Obligor that in extending credit to the BST Group it shall not rely on any present or future claim on the assets of any member of the ITG Group and each Lender hereby covenants that they shall not take any action that is inconsistent with such
non-reliance. 
 Rights and discretions 
 The
Agents and the Issuing Bank may rely on: 
 any representation, notice or document believed by it to be genuine, correct and appropriately
authorised; and 
 any statement made by a director, authorised signatory or employee of any person regarding any matters which may reasonably
be assumed to be within his knowledge or within his power to verify. 
 The Agents may assume (unless it has received notice to the contrary
in its capacity as agent for the Lenders) that: 
 no Default has occurred (unless it has actual knowledge of a Default arising under Clause
28.1 (Non-payment)); 
  

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 any right, power, authority or discretion vested in any Party or the Majority Lenders has not been
exercised; and 
 any notice or request made by the Original Borrower (other than a Utilisation Request or Selection Notice) is made on behalf
of and with the consent and knowledge of all the Obligors. 
 The Agents may engage, pay for and rely on (whether or not retained by the
Agent) the advice or services of any lawyers, accountants, surveyors or other experts. 
 The Agents may act in relation to the Finance
Documents through its personnel and agents. 
 The Agents may disclose to any other Party any information it reasonably believes it has
received as agent under this Agreement. 
 Notwithstanding any other provision of any Finance Document to the contrary, none of the Agents,
the Issuing Bank or the Mandated Lead is obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 
 Relevant Majority Lenders’ instructions 
 Unless a
contrary indication appears in a Finance Document, the Agents shall (i) exercise any right, power, authority or discretion vested in it as Agent in accordance with any instructions given to it by the Relevant Majority Lenders (or, if so
instructed by the Relevant Majority Lenders, refrain from exercising any right, power, authority or discretion vested in it as an Agent) and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in
accordance with an instruction of the Relevant Majority Lenders. 
 Unless a contrary indication appears in a Finance Document, any
instructions given by the Relevant Majority Lenders will be binding on all the Finance Parties other than the Security Agent. 
 The relevant
Agent may refrain from acting in accordance with the instructions of the Relevant Majority Lenders (or, if appropriate, the Relevant Unanimous Lenders or the Super Majority Lenders) until it has received such security as it may require for any cost,
loss or liability (together with any associated VAT) which it may incur in complying with the instructions. 
 In the absence of instructions
from the Relevant Majority Lenders, (or, if appropriate, the Relevant Unanimous Lenders or the Super Majority Lenders) the relevant Agent may act (or refrain from taking action) as it considers to be in the best interest of the Lenders. 

The relevant Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s consent) in any legal or arbitration
proceedings relating to any Finance Document. This paragraph (e) shall not apply to any legal or arbitration proceeding relating to the perfection, preservation or protection of rights under the Transaction Security Documents or enforcement of
the Transaction Security or Transaction Security Documents. 
  

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 Responsibility for documentation 
 None of the Agents, the Mandated Lead Arranger, the Issuing Bank or any Ancillary Lender: 
 is responsible for the adequacy,
accuracy and/or completeness of any information (whether oral or written) supplied by the Agents, the Mandated Lead Arranger, the Issuing Bank, an Ancillary Lender, an Obligor or any other person given in or in connection with any Finance Document
or the Information Memorandum or the Reports or the transactions contemplated in the Finance Documents; or 
 is responsible for the legality,
validity, effectiveness, adequacy or enforceability of any Finance Document or the Transaction Security or any other agreement, arrangement or document entered into, made or executed in anticipation of or in connection with any Finance Document or
the Transaction Security. 
 Exclusion of liability 
 Without limiting paragraph (b) below, none of the Agents, the Issuing Bank or any Ancillary Lender will be liable for any action taken by it under or in connection with any Finance Document or the Transaction Security, unless directly
caused by its gross negligence or wilful misconduct. 
 No Party (other than the Agents, the Issuing Bank or an Ancillary Lender (as
applicable)) may take any proceedings against any officer, employee or agent of the Agent, the Issuing Bank or any Ancillary Lender in respect of any claim it might have against the Agents, the Issuing Bank or an Ancillary Lender or in respect of
any act or omission of any kind by that officer, employee or agent in relation to any Finance Document or any Transaction Document and any officer, employee or agent of the Agents, the Issuing Bank or any Ancillary Lender may rely on this Clause 31
subject to Clause 1.4 (Third party rights) and the provisions of the Third Parties Act. 
 The Agents will not be liable for any delay
(or any related consequences) in crediting an account with an amount required under the Finance Documents to be paid by the relevant Agent if the relevant Agent has taken all necessary steps as soon as reasonably practicable to comply with the
regulations or operating procedures of any recognised clearing or settlement system used by the relevant Agent for that purpose. 
 Nothing in
this Agreement shall oblige the Agents or the Mandated Lead Arranger to carry out any “know your customer” or other checks in relation to any person on behalf of any Lender and each Lender confirms to the Agents and the Mandated Lead
Arranger that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent or the Mandated Lead Arranger. 
 Lenders’ indemnity to the Agents 
 Each Lender shall (in
proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) indemnify the relevant Agent, within three Business Days of demand,
against any cost, loss or liability incurred by the relevant Agent (otherwise than by reason of the relevant Agent’s gross negligence or wilful misconduct) in acting as Priority Agent or Second Lien Agent, as applicable under the Finance
Documents (unless the relevant Agent has been reimbursed by an Obligor pursuant to a Finance Document). 
  

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 Without limiting the foregoing, to the extent required by any applicable law, each Agent may withhold
from any payment to any Lender an amount equivalent to any applicable withholding tax. If the U.S. Internal Revenue Service or any other Governmental Authority asserts a claim that the Agent did not properly withhold tax from amounts paid to or for
the account of any Lender for any reason (including, without limitation, because the appropriate form was not delivered or was not properly executed or because such Lender failed to notify the relevant Agent of a change in circumstances which
rendered the exemption from or reduction of withholding tax ineffective), such Lender shall indemnify the relevant Agent fully for all amounts paid, directly or indirectly, by the relevant Agent as tax or otherwise, including any penalties or
interest and together with any all expenses incurred. 
 Resignation of the Agent 
 Each Agent may resign and appoint one of its Affiliates as successor by giving prior written notice to the Lenders and the Parent. 
 Alternatively the (i) Priority Agent may resign by giving notice to the Lenders and the Parent, in which case the Majority Priority Lenders (after
consultation with the Parent) may appoint a successor Priority Agent (ii) the Second Lien Agent may resign by giving notice to the Majority Second Lien Lenders and the Parent in which case the Majority Second Lien Lenders (after consultation
with the Parent) may appoint a successor Second Lien Agent. 
 If the Majority Priority Lenders or Majority Second Lien Lenders, as
applicable, have not appointed a successor Agent in accordance with paragraph (b) above within 30 days after notice of resignation was given, the relevant Agent (after consultation with the Parent) may appoint a successor Agent. 
 The retiring Agent shall, at its own cost, make available to the relevant successor Agent such documents and records and provide such assistance as the
relevant successor Agent may reasonably request for the purposes of performing its functions as Agent under the Finance Documents. 
 The
relevant Agent’s resignation notice shall only take effect upon the appointment of a successor. 
 Upon the appointment of a successor,
the relevant retiring Agent shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 31. Its successor and each of the other Parties shall have the same rights and
obligations amongst themselves as they would have had if such successor had been an original Party. 
 After consultation with the Parent, the
Majority Priority Lenders or the Majority Second Lien Lenders, as applicable may, by notice to the relevant Agent, require it to resign in accordance with paragraph (b) above. In this event, the relevant Agent shall resign in accordance with
paragraph (b) above. 
 Confidentiality 
 In
acting as agent for the Finance Parties, the relevant Agent shall be regarded as acting through its agency division which shall be treated as a separate entity from any other of its divisions or departments. 
  

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 If information is received by another division or department of the relevant Agent, it may be treated as
confidential to that division or department and the relevant Agent shall not be deemed to have notice of it. 
 Notwithstanding any other
provision of any Finance Document to the contrary, neither the relevant Agent nor the Mandated Lead Arranger are obliged to disclose to any other person (i) any confidential information or (ii) any other information if the disclosure would
or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty. 
 Relationship with the Lenders 
 The Agents may treat each Lender as a Lender, entitled to payments under this Agreement and acting through its Facility Office unless it has received not
less than five Business Days’ prior notice from that Lender to the contrary in accordance with the terms of this Agreement. 
 Each
Lender shall supply the relevant Agent with any information required by the relevant Agent in order to calculate the Mandatory Cost in accordance with Schedule 4 (Mandatory Cost formula). 
 Each Lender shall supply the relevant Agent with any information that the Security Agent may reasonably specify (through the relevant Agent) as being
necessary or desirable to enable the Security Agent to perform its functions as Security Agent. Each Lender shall deal with the Security Agent exclusively through the relevant Agent and shall not deal directly with the Security Agent. 
 Credit appraisal by the Lenders, Issuing Bank and Ancillary Lenders 
 Without
affecting the responsibility of any Obligor for information supplied by it or on its behalf in connection with any Finance Document, each Lender, Issuing Bank and Ancillary Lender confirms to the Agent, the Mandated Lead Arranger, Issuing Bank and
each Ancillary Lender that it has been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with any Finance Document including but not limited to:

 the financial condition, status and nature of each member of the BST Group; 
 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and the Transaction Security and any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document or the Transaction Security; 
 whether that Secured Party has recourse, and the nature and extent of that recourse, against any Party or any of its respective assets under or in connection with any Finance Document, the Transaction Security, the
transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 
 the adequacy, accuracy and/or completeness of the Information Memorandum, the Reports and any other information provided by the relevant Agent, any Party
or by any other person under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection
with any Finance Document; and 
  

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 the right or title of any person in or to, or the value or sufficiency of any part of the Charged
Property, the priority of any of the Transaction Security or the existence of any Security affecting the Charged Property. 
 Reference Banks 
 If a Reference Bank (or, if a Reference Bank is not a Lender, the Lender of which it is an Affiliate) ceases to be a Lender, the Agent shall (in consultation with the
Parent) appoint another Lender or an Affiliate of a Lender to replace that Reference Bank. 
 Deduction from amounts payable by an Agent 
 If any Party owes an amount to an Agent under the Finance Documents the relevant Agent may, after giving notice to that Party, deduct an amount not exceeding that amount
from any payment to that Party which the relevant Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that Party
shall be regarded as having received any amount so deducted. 
 Reliance and engagement letters 
 Each Finance Party and Secured Party confirms that each of the Mandated Lead Arranger and the Agents has authority to accept on its behalf (and ratifies the acceptance on its behalf of any letters or reports already
accepted by the Mandated Lead Arranger or Agents) the terms of any reliance letter or engagement letters relating to the Reports or any reports or letters provided by accountants in connection with the Finance Documents or the transactions
contemplated in the Finance Documents and to bind it in respect of those Reports, reports or letters and to sign such letters on its behalf and further confirms that it accepts the terms and qualifications set out in such letters. 
 CONDUCT OF BUSINESS BY THE FINANCE PARTIES 
 No
provision of this Agreement will: 
 interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever
manner it thinks fit; 
 oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or the
extent, order and manner of any claim; or 
 oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise)
or any computations in respect of Tax. 
 SHARING AMONG THE FINANCE PARTIES 
 Payments to Finance Parties 
 Subject to Clause 33.5 (Exceptions), if a Finance Party (a “Recovering Finance
Party”) receives or recovers any amount from an Obligor other than in accordance with Clause 34 (Payment mechanics) and applies that amount to a payment due under the Finance Documents then: 
 the Recovering Finance Party shall, within three Business Days, notify details of the receipt or recovery, to the Agents; 
 the Priority Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance Party would have been paid had the
receipt or recovery been received or made by the Agents and distributed in accordance with Clause 34 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or
distribution; and 
  

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 the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the
Priority Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with
Clause 34.5 (Partial payments). 
 Redistribution of payments 
 The Agents shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Finance Party) in accordance with Clause 34.5 (Partial payments).

 Recovering Finance Party’s rights 
 On a
distribution by the relevant Agent under Clause 33.2 (Redistribution of payments), the Recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in the redistribution. 
 If and to the extent that the Recovering Finance Party is not able to rely on its rights under paragraph (a) above, the relevant Obligor shall be
liable to the Recovering Finance Party for a debt equal to the Sharing Payment which is immediately due and payable. 
 Reversal of redistribution

 If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering Finance Party,
then: 
 each Finance Party which has received a share of the relevant Sharing Payment pursuant to Clause 33.2 (Redistribution of
payments) shall, upon request of the relevant Agent, pay to the relevant Agent for account of that Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with an amount as is necessary to
reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that Recovering Finance Party is required to pay); and 
 that Recovering Finance Party’s rights of subrogation in respect of any reimbursement shall be cancelled and the relevant Obligor will be liable to the reimbursing Finance Party for the amount so reimbursed.

 Exceptions 
 This Clause 33 shall not apply to
the extent that the Recovering Finance Party would not, after making any payment pursuant to this Clause 33, have a valid and enforceable claim against the relevant Obligor. 
 A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering Finance Party has received or recovered as
a result of taking legal or arbitration proceedings, if: 
 it notified the other Finance Party of the legal or arbitration proceedings; and

  

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 the other Finance Party had an opportunity to participate in those legal or arbitration proceedings but
did not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings. 
 Ancillary Lenders

 This Clause 33 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service
of notice under Clause 28.20 (Acceleration). 
 Following service of notice under Clause 28.20 (Acceleration), this Clause 33
shall apply to all receipts or recoveries by Ancillary Lenders except in respect of an overdraft facility comprising more than one account under an Ancillary Facility provided by an Ancillary Lender, in which case this Clause 33 shall only apply to
any surplus receipt or recovery by that Ancillary Lender after the application of set-off of any liabilities owing to it under such overdraft facility against credit balances on any account comprised in such overdraft facility. 
  

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 SECTION 11 
 ADMINISTRATION 
 PAYMENT MECHANICS 
 Payments to the relevant Agent 
 On each date on which an Obligor or a Lender is required to make a payment
under a Finance Document excluding a payment under the terms of an Ancillary Document, that Obligor or Lender shall make the same available to the relevant Agent (unless a contrary indication appears in a Finance Document) for value on the due date
at the time and in such funds specified by the relevant Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment. 
 Payment shall be made to such account in the principal financial centre of the country of that currency (or, in relation to euro, in a principal financial
centre in a Participating Member State or London) with such bank as the relevant Agent specifies. 
 Distributions by the Agent 
 Each payment received by an Agent under the Finance Documents for another Party shall, subject to Clause 34.3 (Distributions to an Obligor) and Clause 34.4
(Clawback) be made available by the relevant Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such
account as that Party may notify to the relevant Agent by not less than five Business Days’ notice with a bank in the principal financial centre of the country of that currency (or, in relation to euro, in the principal financial centre of a
Participating Member State or London). 
 Distributions to an Obligor 
 The relevant Agent may (with the consent of the Obligor or in accordance with Clause 35 (Set-Off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any
amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to be so applied. 
 Clawback 
 Where a sum is to be paid to the relevant Agent under the Finance Documents for another Party, the relevant Agent is not obliged to pay that sum to that
other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum. 
 If the relevant Agent pays an amount to another Party and it proves to be the case that the relevant Agent had not actually received that amount, then the Party to whom that amount (or the proceeds of any related
exchange contract) was paid by the relevant Agent shall on demand refund the same to the relevant Agent together with interest on that amount from the date of payment to the date of receipt by the relevant Agent, calculated by the relevant Agent to
reflect its cost of funds. 
 Partial payments 
 If an Agent receives a payment for application against amounts due in respect of any Finance Documents that is insufficient to discharge all the amounts then due and payable by an Obligor under those Finance Documents, such Agent shall
apply that payment towards the obligations of that Obligor under those Finance Documents in the following order: 
 first, in or
towards payment pro rata of any unpaid fees, costs and expenses of the Priority Agent, the Issuing Bank and the Security Agent under those Finance Documents; 
  

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 secondly, in or towards payment pro rata of any accrued interest, fee or commission due but
unpaid under those Finance Documents (excluding in respect of the Second Lien Facility); 
 thirdly, in or towards payment pro
rata of any principal due but unpaid under those Finance Documents (excluding in respect of the Second Lien Facility); 
 fourthly,
in or towards payment pro rata of any other sum due but unpaid under the Finance Documents (excluding in respect of the Second Lien Facility); 
 fifthly, in or towards payment pro rata of any unpaid fees, costs and expenses of the Second Lien Agent under those Finance Documents; 
 sixthly, in or towards pro rata of any accrued interest, fee or commission due but unpaid under those Finance Documents in respect of the
Second Lien Facility; 
 seventhly, in or towards payment pro rata of any principal due but unpaid under those Finance Documents
in respect of the Second Lien Facility; and 
 eighthly, in or towards payment pro rata of any other sum due but unpaid under
the Finance Documents in respect of the Second Lien Facility. 
 Paragraph (a) above will override any appropriation made by an Obligor.

 No set-off by Obligors 
 All payments to be made by an Obligor
under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. 
 Business Days

 Any payment which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month
(if there is one) or the preceding Business Day (if there is not). 
 During any extension of the due date for payment of any principal or
Unpaid Sum under this Agreement interest is payable on the principal or Unpaid Sum at the rate payable on the original due date. 
 Currency of account

 Subject to paragraphs (b) to (e) below, the Base Currency is the currency of account and payment for any sum due from an Obligor
under any Finance Document. 
 A repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall be made in the currency in which
that Loan or Unpaid Sum is denominated on its due date. 
  

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 Each payment of interest shall be made in the currency in which the sum in respect of which the interest
is payable was denominated when that interest accrued. 
 Each payment in respect of costs, expenses or Taxes shall be made in the currency in
which the costs, expenses or Taxes are incurred. 
 Any amount expressed to be payable in a currency other than the Base Currency shall be
paid in that other currency. 
 Change of currency 
 Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised by the central bank of any country as the lawful currency of that country, then: 
 any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the currency of that country shall be translated
into, or paid in, the currency or currency unit of that country designated by the Agent (after consultation with the Parent); and 
 any
translation from one currency or currency unit to another shall be at the official rate of exchange recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or down by the Agent (acting
reasonably). 
 If a change in any currency of a country occurs, this Agreement will, to the extent the relevant Agent (acting reasonably and
after consultation with the Parent) specifies to be necessary, be amended to comply with any generally accepted conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in currency. 
 SET-OFF 
 A Finance Party may set off any matured
obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the place of payment, booking branch or
currency of either obligation. If the obligations are in different currencies, the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. 
 Any credit balances taken into account by an Ancillary Lender when operating a net limit in respect of any overdraft under an Ancillary Facility shall on
enforcement of the Finance Documents be applied first in reduction of the overdraft provided under that Ancillary Facility in accordance with its terms. 
 NOTICES 
 Communications in writing 
 Any
communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax or letter. 
  

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 Addresses 
 The address and
fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with the Finance Documents is: 
 in the case of the Parent or the Original Borrower, that identified with its name below; 
 in the case of each Lender, the Issuing Bank each Ancillary Lender or any other Obligor, that notified in writing to the Agent on or prior to the date on
which it becomes a Party; and 
 in the case of the Agents or the Security Agent, that identified with its name below, 
 or any substitute address, fax number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other Parties, if a change is made by
the Agent) by not less than five Business Days’ notice. 
 Delivery 
 Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective: 
 if by way of fax, when received in legible form; or 
 if by way of letter, when it has been left at the relevant address or five Business Days after being deposited in the post postage prepaid in an envelope addressed to it at that address, 
 and, if a particular department or officer is specified as part of its address details provided under Clause 36.2 (Addresses), if addressed to that
department or officer. 
 Any communication or document to be made or delivered to the Agents or the Security Agent will be effective only
when actually received by the Agent or Security Agent and then only if it is expressly marked for the attention of the department or officer identified with the relevant Agent’s or the Security Agent’s signature below (or any substitute
department or officer as the relevant Agent or the Security Agent shall specify for this purpose). 
 All notices from or to an Obligor shall
be sent through the Agent. 
 Any communication or document made or delivered to the Parent in accordance with this Clause 36.3 will be deemed
to have been made or delivered to each of the Obligors. 
 Notification of address and fax number 
 Promptly upon receipt of notification of an address or fax number or change of address or fax number pursuant to Clause 36.2 (Addresses) or changing its own
address or fax number, the Agent shall notify the other Parties. 
 Electronic communication 
 Any communication to be made between any Agent or any Security Agent and a Lender under or in connection with the Finance Documents may be made by
electronic mail or other electronic means, if the relevant Agent, the Security Agent and the relevant Lender: 
 agree that, unless and until
notified to the contrary, this is to be an accepted form of communication; 
  

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 notify each other in writing of their electronic mail address and/or any other information required to
enable the sending and receipt of information by that means; and 
 notify each other of any change to their address or any other such
information supplied by them. 
 Any electronic communication made between the Agents and a Lender or the Security Agent will be effective
only when actually received in readable form and in the case of any electronic communication made by a Lender to the Agents or the Security Agent only if it is addressed in such a manner as the Agents or Security Agent shall specify for this
purpose. 
 Use of Websites 
 Any Obligor may
satisfy its obligation under this Agreement to deliver any information in relation to those Lenders (the “Website Lenders”) who accept this method of communication by posting this information onto an electronic website designated by
the Parent and the Agent (the “Designated Website”) if: 
 the Agent expressly agrees (after consultation with each of the
Lenders) that it will accept communication of the information by this method; 
 both the Parent and the Agent are aware of the address of and
any relevant password specifications for the Designated Website; and 
 the information is in a format previously agreed between the Parent
and the Agent. 
 If any Lender (a “Paper Form Lender”) does not agree to the delivery of information electronically then the
relevant Agent shall notify the Parent accordingly and the Parent shall at its own cost supply the information to the relevant Agent (in sufficient copies for each Paper Form Lender) in paper form. In any event the Parent shall at its own cost
supply the Agent with at least one copy in paper form of any information required to be provided by it. 
 The relevant Agent shall supply
each Website Lender with the address of and any relevant password specifications for the Designated Website following designation of that website by the Parent and the relevant Agent. 
 The Parent shall promptly upon becoming aware of its occurrence notify the Agent if: 
 the Designated Website cannot be accessed due to technical failure; 
 the password specifications for the Designated Website change; 
 any new information which is required to be
provided under this Agreement is posted onto the Designated Website; 
 any existing information which has been provided under this Agreement
and posted onto the Designated Website is amended; or 
  

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 the Parent becomes aware that the Designated Website or any information posted onto the Designated
Website is or has been infected by any electronic virus or similar software. 
 If the Parent notifies the relevant Agent under paragraph
(c)(i) or paragraph (c)(v) above, all information to be provided by the Original Borrower under this Agreement after the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the
circumstances giving rise to the notification are no longer continuing. 
 Any Website Lender may request, through the relevant Agent, one
paper copy of any information required to be provided under this Agreement which is posted onto the Designated Website. The Parent shall at its own cost comply with any such request within ten Business Days. 
 English language 
 Any notice given under or in connection
with any Finance Document must be in English. 
 All other documents provided under or in connection with any Finance Document must be:

 in English; or 
 if not in
English, and if so required by the Agent, accompanied by a certified English translation and, in this case, the English translation will prevail unless the document is a constitutional, statutory or other official document. 
 CALCULATIONS AND CERTIFICATES 
 Accounts 
 In any litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by a Finance Party are
prima facie evidence of the matters to which they relate. 
 Certificates and determinations 
 Any certification or determination by a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of the matters to which it relates. 
 Day count convention 
 Any interest, commission or fee accruing under a
Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market
practice. 
 Lender decisions 
 For the avoidance of doubt, in
each case where the Relevant Unanimous Lenders or the Relevant Majority Lenders are required to make a determination, no Lender is required to vote in the same way in respect of all of its Commitments. 
 PARTIAL INVALIDITY 
 If, at any time, any provision of the Finance
Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision
under the law of any other jurisdiction will in any way be affected or impaired. 
  

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 REMEDIES AND WAIVERS 
 No failure to exercise, nor any delay in exercising, on the part of any Finance Party or Secured Party, any right or remedy under the Finance Documents shall operate as a waiver, nor shall any single or partial exercise of any right or
remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement and in the other Finance Documents are cumulative and not exclusive of any rights or remedies provided by
law. 
 AMENDMENTS AND WAIVERS 
 Required consents

 Subject to Clause 40.2 (Exceptions), any term of the Finance Documents may be amended or waived only with the consent of:

 the Majority Lenders and the Parent, in the case of any amendment or waiver affecting the rights and/or obligations of all the Lenders;

 the Majority Priority Lenders and the Parent, in the case of any amendment or waiver affecting the rights and/or obligations of any
Priority Lender and not the Second Lien Facility Lenders; and 
 the Majority Second Lien Facility Lenders and the Parent, in the case of any
amendment or waiver affecting the rights and/or obligations of any Second Lien Facility Lender and not the Priority Lenders, 
 and any such
amendment or waiver will be binding on all Parties. 
 The Priority Agent (or in the case of the Transaction Security Documents, the Security
Agent) may effect, on behalf of any Finance Party, any amendment or waiver permitted by this Clause 40. 
 Each Obligor agrees to any such
amendment or waiver permitted by this Clause 40 which is agreed to by the Parent. This includes any amendment or waiver which would, but for this paragraph (c), require the consent of all of the Guarantors. 
 Exceptions 
 An amendment or waiver that has the effect of
changing or which relates to: 
 the definition of “Majority Lenders” or “Super Majority Lenders” in Clause 1.1
(Definitions); 
 a change to the Borrowers or the Guarantors of the Second Lien Facility other than in accordance with Clause 30
(Changes to the Obligors); 
 any provision which expressly requires the consent of all the Lenders; 
 Clause 2.2 (Finance Parties’ rights and obligations), Clause 29 (Changes to the Lenders) (save for any amendment or waiver of a minor
or administrative nature) or this Clause 40 insofar as such amendment or waiver affects the rights and objectives of all the Lenders; and 
  

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 any amendment to the order of priority or subordination under the Intercreditor Deed, 
 shall not be made without the prior consent of all the Lenders. 
 An amendment or waiver that has the effect of changing or which relates to: 
 The definition of
“Majority Priority Lenders” in Clause 1.1 (Definitions); 
 an extension to the date of payment of any amount under the
Finance Documents in respect of any Priority Facility; 
 a reduction in the Margin in respect of any Priority Facility or a reduction in the
amount of any payment of principal, interest, fees or commission payable in each case in respect of any Priority Facility; 
 a change in
currency of payment of any amount under the Finance Documents in respect of any Priority Facility; 
 an increase in or an extension of any
First Lien Facility Commitment, Revolving Facility Commitment or the Total Priority Commitments; 
 a change to the Borrowers of any Priority
Facility or to the Guarantors in respect thereof (and not the Second Lien Facility) other than in accordance with Clause 30 (Changes to the Obligors); 
 any provision which expressly requires the consent of all the Priority Lenders; or 
 Clause 2.2 (Finance
Parties’ rights and obligations), Clause 29 (Changes to the Lenders) (save for any amendment or waiver of a minor or administrative nature) or this Clause 40 insofar as such amendment or waiver affects the rights and obligations of
the Priority Lenders, 
 shall not be made without the prior consent of all the Priority Lenders (but, for the avoidance of doubt, without the
consent of any Second Lien Facility Lender except as provided for in the Intercreditor Deed). 
 An amendment or waiver that has the effect of
changing or which relates to: 
 the definition of “Majority Second Facility Lien Lenders” in Clause 1.1 (Definitions);

 an extension to the date of payment of any amount under the Finance Documents in respect of the Second Lien Facility; 
 a reduction in the Margin in respect of the Second Lien Facility or a reduction in the amount of any payment of principal, interest, fees or commission
payable in each case in respect of the Second Lien Facility; 
 a change in currency of payment of any amount under the Finance Documents in
respect of the Second Lien Facility; 
 an increase in or an extension of any Second Lien Facility Commitment, or the Total Second Lien
Facility Commitments; 
 any provisions which expressly requires the consent of all the Second Lien Facility Lenders; or 
  

 158 

 Clause 2.2 (Finance Parties’ rights and obligations), Clause 29 (Changes to the
Lenders) (save for any amendment or waiver of a minor or administrative nature) or this Clause 40 insofar as such amendment or waiver affects the rights and obligations of the Second Lien Facility Lenders, 
 shall not be made without the prior consent of all the Second Lien Facility Lenders (but, for the avoidance of doubt, without the consent of any Priority
Lender except as provided for in the Intercreditor Deed). 
 Any amendment or waiver which relates to the release of any Transaction Security
unless permitted under this Agreement or any other Finance Document or relating to the sale or disposal of an asset which is the subject of the Transaction Security where such sale or disposal is expressly permitted under this Agreement or any other
Finance Document may only be made with the prior consent of all the Super Majority Lenders and the Parent and any such amendment or waiver will be binding on the Parties. 
 An amendment or waiver which relates to the rights or obligations of the Priority Agent, the Second Lien Agent, the Mandated Lead Arrangers, the Issuing Bank or the Security Agent may not be effected without the
consent of the Priority Agent, the Second Lien Agent, the Mandated Lead Arrangers, the Issuing Bank or the Security Agent respectively 
 COUNTERPARTS

 Each Finance Document may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a
single copy of the Finance Document. 
  

 159 

 SECTION 12 
 GOVERNING LAW AND ENFORCEMENT 
 GOVERNING LAW 
 This Agreement is governed by English law. 
 ENFORCEMENT 
 Jurisdiction of English courts 
 The courts of England have
exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement) (a “Dispute”). 
 The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly no Party will argue to the
contrary. 
 This Clause 43.1 is for the benefit of the Finance Parties and Secured Parties only. As a result, no Finance Party or Secured
Party shall be prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties and Secured Parties may take concurrent proceedings in any number of jurisdictions.

 Service of process 
 Without prejudice to any other mode of
service allowed under any relevant law, each Obligor (other than an Obligor incorporated in England and Wales, an ASCI Guarantor, Automotive Safety Components International (Changshu) Co., Ltd, SCI-Huamao China Investment Limited or Automotive
Safety Components International GT (Proprietary) Limited): 
 irrevocably appoints Jordans Limited of 20-22 Bedford Row, London WC1R 4JS as
its agent for service of process in relation to any proceedings before the English courts in connection with any Finance Document; and 
 agrees that failure by a process agent to notify the relevant Obligor of the process will not invalidate the proceedings concerned. 
 If any person appointed as process agent is unable for any reason to act as agent for service of process, the Parent (on behalf of all the Obligors) must immediately (and in any event within 10 days of such event taking place) appoint
another agent on terms acceptable to the Agent. Failing this, the Agent may appoint another agent for this purpose. 
 Without prejudice to any other mode of
service allowed under any relevant law, each ACSI Guarantor: 
 irrevocably appoints ITG Automotive Safety UK Limited (registered number
02640241) of Eversheds House, 70 Great Bridgewater Street, Manchester, M1 5ES as its agent for service of process in relation to any proceedings before the English courts in connection with any Finance Document; and 
 agrees that failure by a process agent to notify the relevant ASCI Guarantor of the process will not invalidate the proceedings concerned. 
  

 160 

 If any person appointed as process agent is unable for any reason to act as agent for service of process,
the Parent (on behalf of all the ASCI Guarantors) must immediately (and in any event within 10 days of such event taking place) appoint another agent on terms acceptable to the Agent. Failing this, the Agent may appoint another agent for this
purpose. 
 This Agreement has been entered into on the date stated at the beginning of this Agreement. 
  

 161 

 SCHEDULE 1 
 THE ORIGINAL PARTIES 
 Part I 
 The Original Obligors 
  

			
	Name of Original Borrower	 	Registration number (or equivalent, if any)
		
	BST Safety Textiles Acquisition GmbH	 	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	Name of Revolving Borrower	 	Registration number (or equivalent, if any)
		
	BST Safety Textiles Acquisition GmbH	 	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles GmbH (renamed or to be renamed ITG Automotive Safety Textiles GmbH)	 	HRB 670522 (commercial register of the local court of Freiburg i.Br.)
		
	Narricot Industries L.P.	 	N/A
		
	Name of Original Guarantor	 	Registration number (or equivalent, if any)
		
	BST U.S. Holdings, Inc.	 	N/A
		
	Narricot Industries Management Corp.	 	N/A
		
	Narricot Industries L.P.	 	N/A
		
	BST Safety Textiles LLC	 	N/A
		
	BST Safety Textiles Acquisition GmbH	 	HRB 702044 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles GmbH (renamed or to be renamed ITG Automotive Safety Textiles GmbH)	 	HRB 670522 (commercial register of the local court of Freiburg i.Br.)
		
	BST Breitgewebe International GmbH	 	HRB 670523 (commercial register of the local court of Freiburg i.Br.)
		
	BST Safety Textiles SP.z o.o.	 	KRS 107538
		
	BST Breitgewebe Verwaltungs GmbH	 	HRB 670527 (commercial register of the local court of Freiburg i.Br.)

  

 162 

 Part II 
 The Original Lenders 
  

							
	 Name of Original Lender
	  	First Lien Facility
Commitment
EUR	  	Second Lien Facility
Commitment
EUR	  	Revolving Facility
Commitment
EUR
	 Goldman Sachs Credit Partners, L.P.
	  	50,000,000	  	12,500,000	  	15,000,000
				
	 UBS Loan Finance LLC
	  	50,000,000	  	12,500,000	  	15,000,000
				
	 Total:
	  	100,000,000	  	25,000,000	  	30,000,000

 [Note: these are included for historical reference only. The Commitments of the Lenders are as
recorded in the records of the relevant Agent on the Effective Date.] 
  

 163 

 SCHEDULE 2 
 CONDITIONS PRECEDENT 
 Part I 
 Conditions precedent to initial Utilisation 
 Obligors 
 A copy of the Constitutional Documents and of the constitutional documents of each other Original Obligor or
member of the BST Group whose assets, shares or partnership interests are the subject of any Transaction Security, and (if applicable) a recent excerpt from the commercial register of each such entity. 
 A copy of a resolution of the board of directors (and/or, if applicable, the supervising or advisory board or the shareholders) of each Original Obligor:

 approving the terms of, and the transactions contemplated by, the Transaction Documents to which it is a party and resolving that it
execute, deliver and perform the Transaction Documents to which it is a party; 
 authorising a specified person or persons to execute the
Finance Documents to which it is a party on its behalf; 
 authorising a specified person or persons, on its behalf, to sign and/or despatch
all documents and notices (including, if relevant, any Utilisation Request and Selection Notice) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party; and 
 in the case of an Obligor other than the Parent, authorising the Parent to act as its agent in connection with the Finance Documents. 
 A specimen of the signature of each person authorised by the resolution referred to in paragraph (b) above in relation to the Finance Documents and
related documents. 
 A certificate of the Parent (signed by a director) confirming that borrowing or guaranteeing or securing, as
appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on any Original Obligor to be exceeded. 
 A certificate of an authorised signatory of the Original Borrower or other relevant Original Obligor certifying that each copy document relating to it specified in this Part I of Schedule 2 is correct, complete and in
full force and effect and has not been amended or superseded as at a date no earlier than the date of this Agreement. 
  

 164 

 Transaction and other Documents 
 A copy of each of the Transaction Documents (other than the Finance Documents) executed by the parties to those documents. 
 Finance Documents 
 The Intercreditor Deed executed by the members of the BST Group party to that Agreement. 
 This Agreement executed by the members of the BST Group party to this Agreement. 
 The Parent Fee Letter. 
 Two originals (or in
the case of security documents that are notarised, one original and a certified copy) of the Transaction Security Documents listed in Schedule 2, Part III hereto. 
 A copy of all notices required to be sent under the Transaction Security Documents. 
 A copy of all share
certificates, transfers and stock transfer forms or equivalent duly executed by the relevant Obligor in blank in relation to the assets subject to or expressed to be subject to the Transaction Security and other documents of title to be provided
under the Transaction Security Documents. 
 Copies of the ALTA title insurance policies taken out in respect of (i) the property located
at 32056 East Circle, Southampton County, Virginia and (ii) the property located at 1556 Montgomery Street, Mecklenberg County, Virginia. 
 Legal
opinions 
 The following legal opinions, each addressed to the Agents, the Security Agent and the Original Lenders and capable of being relied upon by
any persons to become Lenders pursuant to the primary syndication of the Facilities. 
 A legal opinion of Jones Day as legal advisers to the
Parent as to New York law. 
 A legal opinion of Jones Day as legal advisers to the Parent as to German law. 
 A legal opinion of Jones Day as legal advisers to the Parent as to English law. 
 A legal opinion of Soltysinski Kawecki & Szlezak as legal advisers to the Parent as to Polish law. 
 A legal opinion of Jones Day as legal advisers to Narricot Management Corporation, Narricot Industries LLC and BST Safety Textiles LLC as to the law of
the State of Georgia. 
 A legal opinion of Jones Day as legal advisers to Narricot Industries LP as to the law of the State of Virginia.

 Each substantially in the form distributed to the Original Lenders prior to signing this Agreement. 
 Other documents and evidence 
 Evidence that any
process agent referred to in Clause 43.2 (Service of process) has accepted its appointment. 
  

 165 

 Evidence that the fees, costs and expenses then due from the Parent or any member of the BST Group
pursuant to Clause 17 (Fees), Clause 17.5 (Interest, commission and fees on Ancillary Facilities), Clause 22 (Costs and expenses) and Clause 18.5 (Stamp taxes) have been paid or will be paid by the first Utilisation Date.

 The Group Structure Chart which shows the BST Group assuming the Closing Date has occurred. 
 The Reports together with confirmation that they can be relied upon by the Finance Parties. 
 A copy, certified by an authorised signatory of the Parent to be a true copy, of (i) the Original Financial Statements of each member of the Target
Group and (ii) the opening balance sheet of the Parent. 
 A certificate signed by an authorised signatory of the Parent specifying each
member of the BST Group (assuming the Closing Date has occurred) which is a Dormant Company as at the Closing Date together with certified copies (certified by such authorised signatory to be a true copy) of the last audited accounts of each such
Dormant Company. 
 Evidence that the transactions referred to in steps 1 to 4 of the Structure Memorandum will be completed on or prior to
the Closing Date. 
 The Funds Flow Statement in a form agreed by the Parent and the Agents detailing the proposed movement of funds on or
before the Closing Date. 
 A Certificate of the Parent (signed by a director) detailing the estimated Acquisition Costs. 
 A Certificate of the Original Borrower (signed by a director) certifying that: 
 each of the conditions to Completion specified in the Sale and Purchase Agreement has been satisfied or, with the consent of the Agents, waived (other
than payment of the purchase price which will be satisfied immediately following utilisation of the Term Facilities); 
 no Acquisition
Document has been amended, varied, novated, supplemented, superseded, waived or terminated except with the consent of the Agents; 
 the
Original Borrower is not aware of any breach of any warranty or any claim under the Sale and Purchase Agreement; 
 no Material Adverse Effect
(as defined in the Sale and Purchase Agreement) has occurred; and 
 upon utilisation of the Term Facilities, Completion will occur.

 A certificate of the Parent (signed by a director) certifying that: 
 the Subscription Agreements are in full force and effect; 
 the Original Investors have subscribed for shares in the Parent in an aggregate amount of not less than EUR 63,000,000 and that the Parent has subscribed for shares in the Original Borrower in an aggregate amount of
not less than EUR 10,000,000; 
 those shares subscribed for have been issued fully paid; 
  

 166 

			
	 Shares in the Parent
	  	EUR 63,000,000
	 Shares in the Original Borrower
	  	EUR 10,000,000

 Utilisation Requests relating to any Loans to be made on the Closing Date. 
 Evidence that any third party Financial Indebtedness of any member of the Target Group will be unconditionally and irrevocably discharged prior to or
simultaneously with the initial funding of the Term Facilities and all existing security of any such entity will be unconditionally and irrevocably released prior to or simultaneously with such initial funding. 
 A certificate of the Parent confirming which companies within the BST Group are Material Companies. 
 A solvency certificate from the finance director of each member of the BST Group (to the extent not included in the relevant director’s certificate).

 Evidence that Debt Cover (for the avoidance of doubt, excluding the operating leases referred to in paragraph (t) below) as at the
Closing Date (calculated on a pro-forma basis for the last twelve months) for the Target Group is not greater than 3.9:1. 
 A certificate
signed by an authorised signatories of the Parent confirming that the aggregate net present value (calculated in accordance with the Sale and Purchase Agreement) of the Post-Closing Leases does not exceed the Post-Closing Leases Maximum Amount or if
the Post-Closing Leases Maximum Amount is to be exceeded, evidence that cash is/will be held in escrow in a Holding Account in the amount of the excess. 
 Evidence that all applicable anti-money laundering and “know your customer” laws and regulations applicable to each Original Obligor have been complied with, including receipt of all documentation and other
information that may be required in order to enable compliance with the United States PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). 
  

 167 

 Part II 
 Conditions precedent required to be 
 delivered by an Additional Obligor 
 An Accession Letter executed by the Additional Obligor and the Parent. 
 A copy of the constitutional documents of the Additional Obligor and (if applicable) a recent excerpt from its commercial register. 
 A copy of a resolution of the board of directors (and/or, if applicable, the supervisory or advisory board or the shareholder(s)) of the Additional Obligor: 
 approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute, deliver and
perform the Accession Letter and any other Finance Document to which it is party; 
 authorising a specified person or persons to execute the
Accession Letter and other Finance Documents on its behalf; 
 authorising a specified person or persons, on its behalf, to sign and/or
despatch all other documents and notices (including, in relation to an Additional Borrower, any Utilisation Request or Selection Notice) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party;
and 
 authorising the Parent to act as its agent in connection with the Finance Documents 
 A specimen of the signature of each person authorised by the resolution referred to in paragraph 3 above. 
 Except where the Additional Obligor is incorporated in Germany, a certificate of the Additional Obligor (signed by a director) confirming that borrowing
or guaranteeing or securing, as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded. 
 A certificate of an authorised signatory of the Additional Obligor certifying that each copy document listed in this Part II of Schedule 2 is correct, complete and in full force and effect and has not been amended or
superseded as at a date no earlier than the date of the Accession Letter. 
 If available, the latest audited financial statements of the
Additional Obligor. 
 The following legal opinions, each addressed to the Agent, the Security Agent and the Lenders: 
 A legal opinion of the legal advisers to the Parent in England, as to English law in the form distributed to the Lenders prior to signing the Accession
Letter. 
 If the Additional Obligor is incorporated in or has its “centre of main interest” or “establishment” (as
referred to in Clause 24.26 (Centre of main interests and establishments)) in a jurisdiction other than England and Wales or is executing a Finance Document which is governed by a law other than English law, a legal opinion of the legal
advisers to the Agent in the jurisdiction of its incorporation, “centre of main interest” or “establishment” (as applicable) or, as the case may be, the jurisdiction of the governing law of that Finance Document (the
“Applicable Jurisdiction”) as to the law of the Applicable Jurisdiction and in the form distributed to the Lenders prior to signing the Accession Letter. 
  

 168 

 If the proposed Additional Obligor is incorporated in a jurisdiction other than England and Wales,
evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to the proposed Additional Obligor. 
 Any security documents which, consistent with the Security Principles, are required by the Agents executed by the proposed Additional Obligor. 

Any notices or documents required to be given or executed under the terms of those security documents. 
 An accession memorandum to the Intercreditor Deed executed by the Additional Obligor. 
 Such documentary evidence as legal counsel to the Agents may reasonably require, that such Additional Obligor has complied with any law in its
jurisdiction relating to financial assistance or analogous process. 
  

 169 

 Part III 
 Transaction Security Documents and security related documents to be delivered by Obligors 
  

					
	 Name of Obligor
	  	 Description of Transaction Security
 Document and Transaction Security
	  	 Description of Security related
 documents and other action to be
 taken by the relevant Obligor to
 protect or perfect or give priority to
 Transaction Security and date by
 which action is to be completed.

	Parent	  	 (a)     Pledge over shares in the Original Borrower
  
 (b)     First Lien Security
Agreement
  
 (c)     Second Lien Security Agreement
  
 (d)     First Lien Intellectual Property Security Agreement
  
 (e)     Second Lien Intellectual Property Security Agreement
	  	 (a)     notification of companies whose shares are pledged – notary is to be instructed to notify accordingly
without delay

			
	The Original Borrower	  	 (a)     Pledge over shares in the Target
  
 (b)     Account
pledges
	  	 (a)     notification of companies whose shares are pledged – notary is to be
instructed to notify accordingly without delay
  
 (b)     notification of account keeping banks and request of waiver of their prior ranking rights pursuant to the relevant banks’ standard terms and conditions – no later than 10 business days after the
date of the relevant account pledge agreement

			
	The Target	  	 (a)     pledge of all shares in BST Safety Textiles GmbH, BST Breitgewebe
International GmbH.
  
 (b)     assignment of all receivables, including, but not limited to intercompany loans;
  
 (c)     pledge of all bank accounts
  
 (d)     pledge of all shares in BST
Breitgewebe Verwaltungs GmbH
	  	 (a)     notification of companies whose shares are pledged – notary is to be
instructed to notify accordingly without delay
  
 (b)     notification of account keeping banks and request of waiver of their prior ranking rights pursuant to the relevant banks’ standard terms and conditions – no later than 10 business days after the
date of the relevant account pledge agreement
  
 (c)     notification of companies whose shares are pledged – notary is to be instructed to notify accordingly without delay

		  		  	

  

 170 

					
	BST Safety Textiles GmbH	  	 (a)     assignment of all receivables, including, but not limited to trade
receivables and intercompany loans
  
 (b)     pledge of all bank accounts
  
 (c)     transfer of fixed and current assets
  
 (d)     assignment of IP Rights
  
 (e)     First Lien Security
Agreement
  
 (f)      Second Lien Security Agreement
  
 (g)     pledge of all partnership interests in BST U.S. Holding GmbH & Co KG
	  	 (a)     notification of account keeping banks and request of waiver of their prior ranking rights pursuant to the
relevant banks’ standard terms and conditions – no later than 10 business days after the date of the relevant account pledge agreement.

			
	Narricot Industries Management Corp.	  	 (a)     First Lien Security Agreement
  
 (b)     Second Lien Security
Agreement
  
 (c)     First Lien Intellectual Property Security Agreement
  
 (d)     Second Lien Intellectual Property Security Agreement
	  	
			
	Narricot Industries L.P.	  	 (a)     First Lien Security Agreement
  
 (b)     Second Lien Security
Agreement
  
 (c)     First Lien Intellectual Property Security Agreement
  
 (d)     Second Lien Intellectual Property Security Agreement
  
 (e)     First and Second Lien real
estate mortgage in respect of the property located at 32056 East Circle, Southampton County, Virginia
  
 (f)      First and Second Lien real estate mortgage in respect of the property located at 1556
Montgomery Street, Mecklenberg County, Virginia
	  	 (i)      Landlord’s waiver and consent regarding 928 Jaymore Road, Suite
C 150, Southampton, PA 18966
  
 (ii)     Landlord’s waiver and consent regarding 1426 Rocky Branch Road, South Hill, VA 23970 to be delivered within 3 Business Days of the Closing Date

			
	BST Safety Textiles LLC	  	 (a)     First Lien Security Agreement
  
 (b)     Second Lien Security
Agreement
  
 (c)     First Lien Intellectual Property Security Agreement
  
 (d)     Second Lien Intellectual Property Security Agreement
	  	 Landlord’s waiver and consent regarding 1556 Montgomery Street, South Hill, VA 23970

  

 171 

					
			
	BST U.S. Holding GmbH & CO KG	  	 (a)     First Lien Security Agreement
  
 (b)     Second Lien Security
Agreement
	  	

  

 172 

 SCHEDULE 3 
 REQUESTS 
 Part I 
 Utilisation Request 
  

			
	From:	  	[Borrower] [Parent]
		
	To:	  	[Agent]
		
	Dated:	  	
		
	Dear Sirs	  	

 [Parent] – EUR 155,000,000 Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is a Utilisation Request. Terms defined in the Facilities Agreement have the same meaning in this Utilisation Request unless
given a different meaning in this Utilisation Request. 
 We wish to borrow a Loan on the following terms: 
  

			
	Borrower:	  	[            ]
		
	Proposed Utilisation Date:	  	[            ] (or, if that is not a Business Day, the next Business Day)
		
	Facility to be utilised:	  	[First Lien Facility] [Second Lien Facility] [Revolving Facility]*
		
	Currency of Loan:	  	[            ]
		
	Amount:	  	[            ] or, if less, the Available Facility
		
	Interest Period:	  	[            ]

 We confirm that each condition specified in Clause 4.2 (Further conditions precedent) is satisfied on the date of
this Utilisation Request. 
 [The proceeds of this Loan should be credited to [account]]. 
 This Utilisation Request is irrevocable. 
 Yours faithfully 
  
  
 Authorised signatory for 
 [insert name of Borrower] 
  
 NOTES: 
  

	*	Select the Facility to be utilised and delete references to the other Facilities. 

  

 173 

 Part IIA 
 LC Request 
 (Standby Letter of Credit) 
  

					
	UBS	  	AG	  	APPLICATION FOR IRREVOCABLE STANDBY LETTER OF CREDIT
	  ̈         Stamford Branch

 677 Washington Blvd, Stamford, CT 06912
	  	  ̈         New York Branch

  ̈    299 Park Avenue, New York, NY 10171
  ̈    101 Park Avenue, New York, NY
	  	  ̈         Miami
Agency
 701 Brickell Ave, Miami, Florida 33131

  

					
		 	Date:	 	  

		 	Letter of Credit No:	 	  

 Please issue an irrevocable Letter of Credit substantially as set fourth below and forward same by: 
  

							
	 ̈ full Swift/Telex, for delivery to the beneficiary by the advising bank	  	 ̈ Airmail	  	 ̈ other	  	

  

			
	 Advising Bank (You may Advise through your Correspondent)
  
  
	  	 Applicant (applicant name and address):
  
  

		
	 in favor of (Beneficiary, complete name and address)
  
  
	  	 Currency description and amount:
  
  

		
		  	Expiration Date:
                                         
                       
		  	in country of the beneficiary unless otherwise indicated

 Available when accompanied by the following document(s), as checked: 
  

							
	 ̈	  	Signed draft drawn on you or your correspondent	  	 ̈	  	All charges other than the issuing bank’s are for beneficiary’s account

 Choose one of the following four: 
  

					
	 ̈	  	Beneficiary’s signed statement, reading as follows: (quote)	  	  

	
	  

			
		
	  
	 	(unquote).

 (Describe the wording that must appear in the beneficiary’s signed statement in the event of a drawing
or select one of the below statements.) 
  

					
	 ̈	  	The amount drawn represents funds due and owing pursuant to the agreement between	  	  

		  		  	insert name
	and	  	  

		  	insert name	  	

  

 174 

					
	 ̈	 	  
	  	has failed to comply with the terms and conditions of the contract/agreement
		 	insert name	  	

			
		
	(described as)	 	  

					
	
	  

		
	 ̈	 	Please refer to the attached suggested formats for the letter of credit.

							
			
	 ̈	  	Copy (ies) of beneficiary’s commercial invoice (s) marked “unpaid”	  	  

							
			
	 ̈	  	Other documents	  	  

							
			
	 ̈	  	Other instructions/information:	  	  

	
	
	  

	
	  

 (When copy (ies) of transport document (s) is/are required the 21 days presentation as per UCP is not
applicable, unless otherwise stated by applicant.) 
 (When availability/drawing schedule (installment) within a given periods is included, the UCP article
41 is not applicable, unless otherwise stated by applicant.) 
 The credit will be subject to the Uniform Customs and Practice for Documentary Credit of the
International Chamber of Commerce (the “UCP”) in effect on the date of issuance. 
 IN CONSIDERATION OF YOUR ISSUING A LETTER OF CREDIT AS
REQUESTED ABOVE, THE UNDERSIGNED AGREES TO PAY TO YOU THE AMOUNT OF EACH DRAWING UNDER THE LETTER OF CREDIT AND AGREES THAT THE LETTER OF CREDIT IS ISSUED UNDER; AND, IN CONNECTION THEREWITH AGREES TO BE SUBJECT TO ALL THE PROVISIONS OF:

 (I) THE
                             AGREEMENT DATED
                    , SIGNED BY THE APPLICANT, 
 (or, if no agreement is specified above) 
 (II), THE AGREEMENT SET FORTH ON THE REVERSE SIDE HEREOF, WHICH IS MADE
A PART HEREOF. 
  

											
	  
	 		  	  
	  		  	  
	  	
	(Name of Applicant, Please Print)	 		  	(Authorized Signature)	  		  	(Authorized Signature)	  	

  

 175 

 Part IIB 
 LC Request 
 (Commercial Letter of Credit) 
  

					
		 	 ̈ AG	  	APPLICATION FOR IRREVOCABLE COMMERCIAL

  

							
	  ̈         Stamford Branch
	  	  ̈         New York Branch
	  	  ̈         Miami Agency
	  	
	 677 Washington Blvd, Stamford, CT 06912
	  	 -   299 Park Avenue, New York, NY 10171
 -   101 Park Avenue, New York, NY
	  	 701 Brickell Ave, Miami, Florida 33131
	  	

  

					
		 	Date:	 	  

		 	Letter of Credit No:	 	  

 Please issue an irrevocable Letter of Credit substantially as set fourth below and forward same by: 
  

							
	 ̈ full Swift/Telex, for delivery to the beneficiary by the advising bank	  	 ̈ Airmail	  	 ̈ other	  	

  

							
	Advising Bank (name & address, optional)	  	Applicant (applicant name and address):
		
	in favor of (Beneficiary, complete name and address)	  	Currency description and amount:
				
		  		  	 	  	
		
		  	 ̈  exact         ̈  up
to         ̈  plus/minus 10%         ̈  other (specify)
		
		  	Expiration Date:
                                         
                       
		  	in country of the beneficiary unless otherwise indicated

 Available when accompanied by the following document(s), as checked: 
  

											
	 ̈    Signed draft drawn on you or your correspondent at  ̈    sight
 ̈              days sight     ̈
             days date.

											
						
	 ̈    Signed commercial invoice	  	     original(s) and	  	     copy (ies)	  	Other documents:	  		  	
						
	 ̈    Packing List	  	     original(s) and	  	     copy (ies)	  	 ̈                 	  	     original(s) and	  	     copy (ies)
						
	 ̈    Certificate of origin	  	     original(s) and	  	     copy (ies)	  	 ̈                 	  	     original(s) and	  	     copy (ies)

			
		
	 ̈    Insurance Policy and/or Certificate covering all risks and war risks. (indicate any additional risks required:	 	  

			
		
	 ̈    Full set of Clean On Broad Original Ocean Bills of Lading (if more than one original has been issued all are
required.)	 	  

  

 176 

			
	Issued to the order of:	  	  

							
				
	Marked Freight	  	 ̈    Collect	  	 ̈    Paid and Notify:	  	  

			
		
	 ̈    Airway Bill Consigned to:	  	  

							
				
	Marked Freight	  	 ̈    Collect	  	 ̈    Paid and Notify:	  	  

	
	
	Covering: Merchandise described in the invoice as: (Mention commodity only in generic terms omitting excessive details as to grade, quality, etc.)
	
	  

	
	  

  

															
	Shipping terms (check one)	  	 ̈    EXW	  	 ̈    FCA	  	 ̈    FOB	  	 ̈    CFR	  	 ̈    CIF	  	 ̈    CPT	  	 ̈    CIP

													
							
	Shipment from:	  	  
	  	to:	  	  
	  		  	Shipment no later than:	  	  

																	
									
	Partial shipment:	  	 ̈    Allowed	  	 ̈    Prohibited	  	Transshipment:	  	 ̈    Allowed	  	 ̈    Prohibited	  	Partial Drawing:	  	 ̈    Allowed	  	 ̈    Prohibited

  

			
	 ̈    Insurance effected by applicant. Applicant agrees to keep insurance coverage in force until this transaction is completed.

		
	  ̈    This Letter of Credit is Transferable and transfer, if any will be restricted to
the advising bank unless instructed by applicant otherwise.
	  	

			
		
	 ̈    All charges other than the issuing bank’s are for account of     ̈
  applicant     ̈  beneficiary	  	 ̈    Discount charges are for     ̈  applicant     ̈  beneficiary
		
	 ̈    Other instructions/information:	  	

  

	
	  

 (When copy (ies) of transport document (s) is/are required the 21 days presentation as per UCP is not
applicable, unless otherwise stated by applicant.) 
 (When availability/drawing schedule (installment) within a given periods is included, the UCP article
41 is not applicable, unless otherwise stated by applicant.) 
 The credit will be subject to the Uniform Customs and Practice for Documentary Credit of the
International Chamber of Commerce (the “UCP”) in effect on the date of issuance. 
 IN CONSIDERATION OF YOUR ISSUING A LETTER OF CREDIT AS
REQUESTED ABOVE, THE UNDERSIGNED AGREES TO PAY TO YOU THE AMOUNT OF EACH DRAWING UNDER THE LETTER OF CREDIT AND AGREES THAT THE LETTER OF CREDIT IS ISSUED UNDER, AND, IN CONNECTION THEREWITH AGREES TO BE SUBJECT TO ALL THE PROVISIONS OF:

 (I) THE
                             AGREEMENT DATED
                    , SIGNED BY THE APPLICANT, 
 (or, if no agreement is specified above) 
 (II), THE AGREEMENT SET FORTH ON THE REVERSE SIDE HEREOF, WHICH IS MADE
A PART HEREOF. 
  

											
	  
	 		  	  
	  		  	  
	  	
	(Name of Applicant, Please Print)	 		  	(Authorized Signature)	  		  	(Authorized Signature)	  	

  

 177 

 Part III 
 Selection Note 
 Applicable to a Term Loan 
  

			
	From:	  	[Borrower]
		
	To:	  	[Agent]
		
	Dated:	  	
		
	Dear Sirs	  	

 [Parent] – EUR 155,000,000 Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is a Selection Notice. Terms defined in the Facilities Agreement have the same meaning in this Selection Notice unless given a
different meaning in this Selection Notice. 
 We refer to the following [First Lien Facility Loan[s]] [Second Lien Facility Loan[s]] with an Interest Period
ending on [    ]*. We request that the next Interest Period for the above [First Lien Facility Loan[s]] [Second Lien Facility Loan[s]] is [    ]].** 
 This Selection Notice is irrevocable. 
 Yours faithfully

  
  
 Authorised signatory for 
 [insert name of
relevant Borrower] 
  
 NOTES:

  

	*	Insert details of all First Lien Facility Loans and Second Lien Facility Loans, as applicable, which have an Interest Period ending on the same date. 

	**	Use this option if sub-division is not required. 

  

 178 

 SCHEDULE 4 
 MANDATORY COST FORMULA 
 The Mandatory Cost is an addition to the
interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or
(b) the requirements of the European Central Bank. 
 On the first day of each Interest Period (or as soon as possible thereafter) the relevant Agent
shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the
Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum. 
 The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the relevant Agent. This percentage will be certified by that
Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the minimum reserve requirements of the
European Central Bank in respect of loans made from that Facility Office. 
 The Additional Cost Rate for any Lender lending from a Facility Office in the
United Kingdom will be calculated by the relevant Agent as follows: 
  

			
	 E × 0.01
	  	 per cent. per annum.

	300	  

 Where: 
 E is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Agent as being the average of the most recent rates of charge supplied by the Reference Banks to the relevant Agent pursuant to paragraph
6 below and expressed in pounds per £1,000,000. 
 For the purposes of this Schedule: 
 “Fees Rules” means the rules on periodic fees contained in the FSA Supervision Manual or such other law or regulation as may be in force
from time to time in respect of the payment of fees for the acceptance of deposits; 
 “Fee Tariffs” means the fee tariffs
specified in the Fees Rules under the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required pursuant to the Fees Rules but taking into account any applicable discount rate); and 
 “Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 
 If requested by the relevant Agent, each Reference Bank shall, as soon as practicable after publication by the Financial Services Authority, supply to the relevant
Agent, the rate of charge payable by that Reference Bank to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the Financial Services Authority (calculated for this purpose by that Reference Bank
as being the average of the Fee Tariffs applicable to that Reference Bank for that financial year) and expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank. 
  

 179 

 Each Lender shall supply any information required by the relevant Agent for the purpose of calculating its Additional
Cost Rate. In particular, but without limitation, each Lender shall supply the following information on or prior to the date on which it becomes a Lender: 
 the jurisdiction of its Facility Office; and 
 any other information that the Agent may reasonably require
for such purpose. 
 Each Lender shall promptly notify the Agent of any change to the information provided by it pursuant to this paragraph. 
 The rates of charge of each Reference Bank for the purpose of E above shall be determined by the Agent based upon the information supplied to it pursuant to paragraphs 6
and 7 above and on the assumption that, unless a Lender notifies relevant the Agent to the contrary, each Lender’s obligations in relation to cash ratio deposits and Special Deposits (as defined from time to time under or pursuant to the Bank
of England Act 1998 or (as may be appropriate) by the Bank of England) are the same as those of a typical bank from its jurisdiction of incorporation with a Facility Office in the same jurisdiction as its Facility Office. 
 The Agent shall have no liability to any person if such determination results in an Additional Cost Rate which over or under compensates any Lender and shall be entitled
to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs 3, 6 and 7 above is true and correct in all respects. 
 The
Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each Lender based on the information provided by each Lender and each Reference Bank pursuant to
paragraphs 3, 6 and 7 above. 
 Any determination by the relevant Agent pursuant to this Schedule in relation to a formula, the Mandatory Cost, an Additional
Cost Rate or any amount payable to a Lender shall, in the absence of manifest error, be conclusive and binding on all Parties. 
 The relevant Agent may from
time to time, after consultation with the Original Borrower and the Lenders, determine and notify to all Parties any amendments which are required to be made to this Schedule in order to comply with any change in law, regulation or any requirements
from time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or, in any case, any other authority which replaces all or any of its functions) and any such determination shall, in the absence of
manifest error, be conclusive and binding on all Parties. 
  

 180 

 SCHEDULE 5 
 FORM OF TRANSFER CERTIFICATE 
  

			
	To:	  	[            ] as Agent
		
	From:	  	[The Existing Lender] (the “Existing Lender”) and [The New Lender] (the “New Lender”)
		
	Dated:	  	

 [Parent] – EUR 155,000,000 Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is a Transfer Certificate. Terms defined in the Facilities Agreement have the same meaning in this Transfer Certificate unless
given a different meaning in this Transfer Certificate. 
 We refer to Clause 29.5 (Procedure for transfer): 
 The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation all or part of the Existing Lender’s
Commitment, rights and obligations referred to in the Schedule in accordance with Clause 29.5 (Procedure for transfer). 
 The proposed
Transfer Date is [            ]. 
 The Facility Office and address, fax number
and attention details for notices of the New Lender for the purposes of Clause 36.2 (Addresses) are set out in the Schedule. 
 The New Lender
expressly acknowledges the limitations on the Existing Lender’s obligations set out in paragraph (c) of Clause 29.4 (Limitation of responsibility of Existing Lenders). 
 This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Transfer Certificate. 
 This Transfer Certificate is governed by English law. 
 Note: The
execution of this Transfer Certificate may not transfer a proportionate share of the Existing Lender’s interest in the Transaction Security in all jurisdictions. It is the responsibility of the New Lender to ascertain whether any other
documents or other formalities are required to perfect a transfer of such a share in the Existing Lender’s Transaction Security in any jurisdiction and, if so, to arrange for execution of those documents and completion of those formalities.

  

 181 

 THE SCHEDULE 
 Commitment/rights and obligations to be transferred 
 [insert relevant details] 
 [Facility Office address, fax number and attention details for notices and account details for payments,] 
  

			
	[Existing Lender]	  	[New Lender]
		
	By:	  	By:

 This Transfer Certificate is accepted by the relevant Agent and the Transfer Date is confirmed as
[            ]. 
 [Agent] 
 By: 
  

 182 

 SCHEDULE 6 
 FORM OF ACCESSION LETTER 
  

			
	To:	  	[            ] as Agent
		
	From:	  	[Subsidiary] and [Parent]
		
	Dated:	  	
		
	Dear Sirs	  	

 [Parent] – EUR 155,000,000 Term and Revolving Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is an Accession Letter. Terms defined in the Facilities Agreement have the same meaning in this Accession Letter unless given
a different meaning in this Accession Letter. 
 [Subsidiary] agrees to become an Additional [Borrower]/[Guarantor] and to be bound by the terms of
the Facilities Agreement, the Intercreditor Deed and the other Finance Documents as an Additional [Borrower]/[Guarantor] pursuant to Clause [30.2 (Additional Borrowers)]/[Clause 30.4 (Additional Guarantors)] of the Facility Agreement
and as an [Obligor] pursuant to Clause [            ] of the Intercreditor Deed. [Subsidiary] is a company duly incorporated under the laws of [name of relevant jurisdiction]
and is a limited liability company and registered number [            ]. 
 [Subsidiary’s] administrative details are as follows: 
 Address: 
 Fax No.: 
 Attention: 
 This
Accession Letter is governed by English law. 
 [This Guarantor Accession Letter is entered into by deed.] 
  

			
	[Original Borrower]	  	[Subsidiary]

  

 183 

 SCHEDULE 7 
 FORM OF RESIGNATION LETTER 
  

			
	To:	  	[            ] as Agent
		
	From:	  	[resigning Obligor] and [Parent]
		
	Dated:	  	
		
	Dear Sirs	  	

 [Parent] – EUR 155,000,000 Term and Revolving Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is a Resignation Letter. Terms defined in the Facilities Agreement have the same meaning in this Resignation Letter unless
given a different meaning in this Resignation Letter. 
 Pursuant to [Clause 30.3 (Resignation of a Borrower)]/[Clause 30.5 (Resignation of a
Guarantor)], we request that [resigning Obligor] be released from its obligations as a [Borrower]/[Guarantor] under the Facilities Agreement, the Intercreditor Deed and the Finance Documents. 
 We confirm that: 
 no Default is continuing or would result
from the acceptance of this request; and 
 *[[this request is given in relation to a Third Party Disposal of [resigning Obligor] **
[this request is given in relation to [a] Step(s) contemplated under the Permitted Reorganisation Transaction]; 
 [the Disposal Proceeds have
been or will be applied in accordance with Clause 12.3 (Application of Mandatory Prepayments);]***] 
 [            ]**** 
 This letter is governed by English law. 
  

			
	[Parent]	  	[resigning Obligor]
		
	By:	  	By:

  
 NOTES: 
  

	*	Insert where resignation only permitted in case of a Third Party Disposal. 

	**	Insert where resignation is contemplated under the Permitted Reorganisation Transaction. 

	***	Amend as appropriate, e.g., to reflect agreed procedure for payment of proceeds into a specified account. 

	****	Insert any other conditions required by the Facilities Agreement. 

  

 184 

 SCHEDULE 8 
 FORM OF COMPLIANCE CERTIFICATE 
  

			
	To:	  	[            ] as Agent
		
	From:	  	[Parent]
		
	Dated:	  	
		
	Dear Sirs	  	

 [Parent] – EUR 155,000,000 Term and Revolving Facilities Agreement 
 dated [            ] 2006 (the “Facilities Agreement”) 
 We refer to the Facilities Agreement. This is a Compliance Certificate. Terms defined in the Facilities Agreement have the same meaning when used in this Compliance
Certificate unless given a different meaning in this Compliance Certificate. 
 We confirm that: 
 [Insert details of covenants to be certified]. 
 [We confirm that no Default
is continuing.]* 
 [We confirm that the following companies constitute Material Companies for the purposes of the Facility Agreement:
[            ].]*** 
  

									
	Signed	  	  
	  		  	  
	  	
		  	Director of [Parent]	  		  	Director of [Parent]	  	

 [insert applicable certification language]** 
  

	
	  

	 for and on behalf of
 [name of Auditors of the
Parent]

  
 NOTES 
  

	*	If this statement cannot be made, the certificate should identify any Default that is continuing and the steps, if any, being taken to remedy it 

	**	To be agreed with the Parent’s Auditors and the Lenders prior to signing the Agreement. 

	***	Only applicable if the Compliance Certificate accompanies the audited financial statements and is to be signed by the Auditors. 

  

 185 

 SCHEDULE 9 
 TIMETABLES 
 Loans 
  

			
	Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation Request) or a Selection Notice (Clause 15.1 (Selection of Interest Periods and
Terms))	  	 U-3
  
 9.30am

		
	Relevant Agent notifies the Lenders of the Loan in accordance with Clause 5.4 (Lenders’ participation)	  	 U-3
  
 3.00pm

		
	Relevant Agent receives a notification from Lender under Clause 9.2 (Unavailability of Currency)	  	 U-3
  
 5.00pm

		
	Relevant Agent gives notice in accordance with Clause 9.2 (Unavailability of Currency)	  	 U-2
  
 9.30am

		
	Relevant Agent determines amount of the Loan in Optional Currency in accordance with Clause 34.9 (Change of Currency)	  	 U-2
  
 11.00am

		
	Relevant Agent determines (in relation to a Utilisation) the Base Currency Amount of the Loan if required pursuant to Clause 5.4 (Lenders’ Participation)	  	 U-3
  
 Noon

		
	EURIBOR or LIBOR is fixed	  	

 “U” = date of utilisation 
 “U - X” = X Business Days prior to date of utilisation 
  

 186 

 Letters of Credit 
  

			
		  	Letters of Credit
		
	Delivery of a duly completed LC Request (Clause 7.3 Request for Issuance, Amendment, Renewal; Certain Conditions and Notices)	  	U-5
		
	Priority Agent determines (in relation to a Utilisation) the Base Currency Amount of the Letter of Credit if required under paragraph (g) of Clause 7.3 (Request for Issuance, Amendment,
Renewal; Certain Conditions and Notices)] and notifies the Issuing Bank in accordance with paragraph (g) of Clause 7.3 (Request for Issuance, Amendment, Renewal; Certain Conditions and Notices).	  	
		
	Delivery of duly completed request for the renewal or amendment of a Letter of Credit	  	U-5

 “U” = date of utilisation 
 “U-X” = Business Days prior to date of utilisation 
  

 187 

 SCHEDULE 10 
 FORM OF TAX CONFIRMATION 
 [INTENTIONALLY
LEFT BLANK] 
  

 188 

 SCHEDULE 11 
 SECURITY PRINCIPLES 
  

			
	The Principles:	  	The guarantees and security to be provided in support of the Facilities will be given in accordance with the agreed security principles set out in this Schedule 11 (the “Agreed
Security Principles”).
		
	Potential restrictions	  	The Agreed Security Principles recognise there may be
		
	on credit support:	  	legal and practical difficulties in obtaining security from all Obligors in every jurisdiction in which Obligors are incorporated or operate. In particular:
		
		  	 (a)     general statutory limitations, financial assistance, capital maintenance, corporate benefit, fraudulent
preference, thin capitalisation rules, retention of title claims and similar principles may limit the ability of a member of the BST Group to provide a guarantee or security or may require that the guarantee or security be limited by an amount or
otherwise. If any such limit applies, the guarantees and security provided will be limited to the maximum amount which the relevant member of the BST Group may provide having regard to applicable law (including any jurisprudence) and subject to
fiduciary duties of management;

		
		  	 (b)     the giving of a guarantee, the granting and the terms of security or the perfection of the security
granted will not be required to the extent that it would incur any legal fees, registration fees, stamp duty, taxes and any other fees or costs directly associated with such security or guarantee which are materially disproportionate to the benefit
obtained by the Lenders;

		
		  	 (c)     where there is material incremental cost involved in creating security over all assets owned by an Obligor
in a particular category (e.g., real estate) the principle stated at paragraph (b) above shall apply and only the material assets in that category (e.g., material real estate) shall be subject to security;

		
		  	 (d)     any assets subject to third party arrangements (including minority ownership arrangements) which may
prevent the giving of a guarantee or the providing of security shall not be the subject of any security interest provided that, if it is determined that the relevant asset is material and the relevant

  

 189 

			
		  	 Obligor determines that such endeavours will not jeopardise commercial relationships with third parties, the relevant member of the BST Group will use
reasonable endeavours to obtain any necessary consent or waiver;

		
		  	 (e)     members of the BST Group will not be required to give guarantees or enter into security documents if it is
not within the legal capacity of the relevant members of the BST Group or if, in the reasonable opinion of the directors of the relevant members of the BST Group, the same would conflict with the fiduciary duties of those directors or contravene any
legal prohibition or result in personal or criminal liability on the part of any officer; provided that the relevant BST Group member must use reasonable endeavours to overcome any such obstacle; and

		
		  	 (f)      the giving of a guarantee, the granting of security or the terms of such security should not be such
that they materially restrict the running of the business of or materially adversely affect the tax arrangements of the relevant member of the BST Group or its affiliates in the ordinary course.

		
	Terms of Security Documents: 	  	The following principles will be reflected in the terms of any security taken as part of this transaction:
		
		  	 (a)     security will not be enforceable until an Event of Default has occurred;

		
		  	 (b)     notification of pledges over bank accounts will be given to the bank holding the account provided that
this is not inconsistent with the BST Group retaining control over the balance of the account;

		
		  	 (c)     notification of receivables security to debtors will only be given if an Event of Default has occurred;

		
		  	 (d)     notification of security over insurance policies will not be served on any insurer of BST Group assets
until such time as an Event of Default has occurred;

		
		  	 (e)     the security documents should only operate to create security rather than to impose new commercial
obligations;

		
		  	 (f)      in respect of share pledges, until an Event of Default the pledgors should be permitted to retain
and to exercise voting rights to any shares pledged

  

 190 

			
		  	 by them in a manner which does not adversely affect the validity or enforceability of the security or cause an Event of Default to occur and the pledgors should
be permitted to receive and retain dividends on pledged shares/pay dividends upstream on pledged shares to the extent permitted under this Agreement with the proceeds to be available to the BST Group;

		
		  	 (g)     the Security Agent shall only be able to exercise any power or attorney granted to it under the security
documents following the occurrence of an Event of Default or failure to comply with a further assurance or perfection obligation;

		
		  	 (h)     the security documents will not operate so as to prevent transactions which are permitted under this
Agreement or to require additional consents or authorisations;

		
		  	 (i)      the security documents will permit disposals of assets where such disposal is permitted under this
Agreement and will include assurances for the Security Agent to do all things reasonably requested to release security in respect of the assets the subject of such disposal;

		
		  	 (j)      the security documents will not accrue interest on any amount in respect of which interest is
accruing under this Agreement;

		
		  	 (k)     in the security documents there will be no repetition or extension of clauses set out in this Agreement
relating to notices, costs and expenses, indemnities, tax gross-up and distribution of proceeds; and

		
		  	 (l)      neither ASCI nor any Subsidiary of ASCI that is a US Obligor as at the Realignment Completion Date
will be required to pledge any CFC Interests as security for the obligations of any US Obligor under any of the Finance Documents.

		
	Guarantees/ Security:	  	Subject to the due execution of all relevant security documents, completion of relevant perfection formalities within statutorily prescribed time limits, payment of all registration fees and
documentary taxes, any other rights arising by operation of law, obtaining any relevant foreign legal opinions and subject to any qualifications which may be set out in the Facilities Agreement and any relevant legal opinions obtained and subject to
the requirements of

  

 191 

			
		  	the Agreed Security Principles and subject always to Clause 23.11 (Guarantee Limitations applicable to U.S. Obligors), it is further acknowledged that pursuant to each security document the
Security Agent shall:
		
		  	 (a)     receive the benefit of an upstream, cross-stream and downstream guarantee and the security will be granted to
secure all liabilities of the Obligors under the Finance Documents in accordance with the Agreed Security Principles; and

		
		  	 (b)     (in the case of those security documents creating pledges or charges over shares in an Obligor) obtain a
first priority valid charge or analogous or equivalent encumbrance over all of the shares in issue at any time in that Obligor (except to the extent such shares constitute CFC Interests in respect of Subsidiaries of ASCI as at the Realignment
Completion Date) which are owned by another Obligor. Such security document shall be governed by the laws of the jurisdiction in which such Obligor whose shares are being pledged is formed.

		
		  	In the case of guarantees and security to be granted and created by the Target Group and the other subsidiaries such guarantees and security shall be provided on the Closing
Date.

  

 192 

 SCHEDULE 12 
 [INTENTIONALLY LEFT BLANK] 
  

 193 

 SCHEDULE 13 
 Steps 5 to 8 
 Delivery to the Agents of: 
  

	a.	drafts (or, if available, copies of executed counterparts) of all documentation implementing Steps 5 to 8 in the agreed form (except for the FEIN registration for NewCo Narricot in
connection with Step 6); and 

  

	b.	duly executed copies (which may be undated, copies or otherwise subject to escrow arrangements satisfactory the Security Agent) of any Transaction Security Documents (including
amendments to them) and legal opinions required by, and in form and substance satisfactory to, the Security Agent. 

  

 194 

 SCHEDULE 14 
 Step 9 
 Part I 
  

	1.	Evidence satisfactory to the Security Agent that, save for any indemnity in respect of costs, fees and expenses, all present and future liabilities (both actual and contingent and
including any liability to any other borrower or guarantor by way of contribution or indemnity) of, and any Security or guarantee given by, ASCI or any Subsidiary of ASCI under or in connection with the credit documents delivered to the Agents
pursuant to paragraph 3 of Schedule 2 (Conditions Precedent) to the Amendment Agreement have been fully and irrevocably discharged. 

  

	2.	Delivery to the Security Agent of duly executed copies (which may be undated, copies or otherwise subject to escrow arrangements satisfactory to the Security Agent) of the documents
and evidence listed in Parts II and III of this Schedule, in form and substance satisfactory to the Security Agent. 

  

	3.	Delivery to the Agents of drafts of all documentation implementing Step 9 in the agreed form. 

  

	4.	A certificate from the Parent attaching the Realignment Information Package and certifying that it is in compliance with Clause 24.12 (No misleading information), signed by
an authorised signatory of the Parent. 

 Part II 
  

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	1	 	ITG Automotive Safety UK Ltd	  	 An Accession Letter executed by ITG Automotive Safety UK Ltd and the Parent.

			
	2	 	ITG Automotive Safety UK Ltd	  	A copy of the constitutional documents of ITG Automotive Safety UK Limited.
			
	3	 	 ITG Automotive Safety UK Ltd 
	  	 A copy of a resolution of the board of directors of ITG Automotive Safety UK Limited:

				
		 		  	(a)	  	 approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute, deliver
and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;
				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including any Utilisation Request
or Selection Notice) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.
			
	 4
	 	ITG Automotive Safety UK Ltd	  	 A specimen of the signature of each person authorised by the resolution referred to in document 3 above.

  

 195 

					
	 No.
	 	 Name of Obligor
	  	 Description of document

	5	 	ITG Automotive Safety UK Ltd	  	A certificate of ITG Automotive Safety UK Limited (signed by a director) confirming that borrowing or guaranteeing or securing, as appropriate, the Total Commitments would not cause any
borrowing, guarantee, security or similar limit binding on it to be exceeded.
			
	6	 	ITG Automotive Safety UK Ltd	  	A certificate of an authorised signatory of ITG Automotive Safety UK Ltd certifying that each copy document listed in this Schedule applicable to it is correct, complete and in full force and
effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	7	 	ITG Automotive Safety UK Ltd	  	If available, the latest audited financial statements of ITG Automotive Safety UK Ltd.
			
	8	 	ITG Automotive Safety UK Ltd	  	The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by ITG Automotive Safety UK Limited: a
debenture.
			
	9	 	ITG Automotive Safety UK Ltd	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents, save for the global property insurance policy number in respect of the
debenture referred to in document 8 above.
			
	10	 	ITG Automotive Safety UK Ltd	  	An accession memorandum to the Intercreditor Deed executed by ITG Automotive Safety UK Limited.
			
	11	 	ITG Automotive Safety UK Limited	  	A copy of a shareholder resolution of ITG Automotive Safety UK Limited authorising the amendment of the articles of association of ITG Automotive Safety UK Limited to remove the
directors’ discretion to register a share transfer, and a copy of the associated amended articles.
			
	12	 	ITG Automotive Safety UK Limited	  	Deed of release executed by ITG Automotive Safety UK Limited relating to the first ranking debenture in favour of General Capital Corporation.
			
	13	 	ITG Automotive Safety UK Limited	  	Deed of release executed by ITG Automotive Safety UK Limited relating to the second ranking debenture in favour of General Electric Capital Corporation.
			
	14	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	An Accession Letter executed by BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles, LLC) and the Parent.
			
	15	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	A copy of the constitutional documents of BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC).
			
	16	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	[Intentionally left blank.]

  

 196 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	17	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	 A copy of a resolution of the sole member of BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles
LLC):

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including any Utilisation Request
or Selection Notice) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.
			
	18	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	A specimen of the signature of each person authorised by the resolution referred to in document 17 above.
			
	19	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	A certificate of BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC) (signed by a director) confirming that borrowing or guaranteeing or securing,
as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.
			
	20	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	A certificate of an authorised signatory of BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC) certifying that each copy document listed in this
Schedule is applicable to it is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	21	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	If available, the latest audited financial statements of BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC).
			
	22	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	Evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to BST Safety Textiles LLC (renamed
or to be renamed ITG Automotive Safety Textiles LLC).
			
	23	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by
BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC):

				
		 		  	(a)	  	 first lien reaffirmation agreement; and

				
		 		  	(b)	  	second lien reaffirmation agreement.

  

 197 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	24	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.
			
	25	 	BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)	  	An accession memorandum to the Intercreditor Deed executed by BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC).
			
	26	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	An Accession Letter executed by Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.) and the
Parent.
			
	27	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	A copy of the constitutional documents of Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International,
Inc.).
			
	28	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	UCC-1.
			
	29	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	 A copy of a resolution of the board of directors of Automotive Safety Components International, Inc. (renamed or to be renamed ITG
Automotive Safety Components International, Inc.):

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including any Utilisation Request
or Selection Notice) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.

  

 198 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	 30
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	A specimen of the signature of each person authorised by the resolution referred to in document 29 above.
			
	 31
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	A certificate of Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.) (signed by a director) confirming
that borrowing or guaranteeing or securing, as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.
			
	 32
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	A certificate of an authorised signatory of Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)
certifying that each copy document listed in this Schedule applicable to it is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	 33
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	If available, the latest audited financial statements of Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International,
Inc.).
			
	 34
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	Evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to Automotive Safety Components
International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.).
			
	 35
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by
Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.):

		 	  	  
 (a)
	  	  
 first lien joinder agreement;

				
		 		  	(b)	  	 second lien joinder agreement; and

				
		 		  	(c)	  	 share security over its shares in Automotive Safety Components International S.A. de C.V.

			
	 36
	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.

  

 199 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	37	 	Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International, Inc.)	  	An accession memorandum to the Intercreditor Deed executed by ITG Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components
International, Inc.)
			
	38	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	An Accession Letter executed by ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.) and the Parent.
			
	39	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	A copy of the constitutional documents of ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.).
			
	40	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	UCC-1.
			
	41	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	 A copy of a resolution of the board of directors of ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.):

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by
it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents
			
	42	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	A specimen of the signature of each person authorised by the resolution referred to in document 41 above.
			
	43	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	A certificate of ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.) (signed by a director) confirming that borrowing or guaranteeing or securing, as
appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.

  

 200 

					
	 No.
	 	 Name of Obligor
	  	 Description of document

	44	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	A certificate of an authorised signatory of ASCI Holdings Europe, Inc (renamed or to be renamed ITG ASCI Holdings Europe, Inc) certifying that each copy document listed in this Schedule
applicable to it is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	45	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	If available, the latest audited financial statements of ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.).
			
	46	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	Evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to ASCI Holdings, Europe, Inc (renamed or to be
renamed ITG ASCI Holdings Europe, Inc.)
			
	47	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by ASCI
Holdings Europe, Inc (renamed or to be renamed ITG ASCI Holdings Europe, Inc.):
  
 (a)    first lien joinder agreement;
  
 (b)    second lien joinder agreement;
and
  
 (c)    charge over
shares in ITG Automotive Safety UK Limited.

			
	48	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.
			
	49	 	ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.)	  	An accession memorandum to the Intercreditor Deed executed by ASCI Holdings Europe, Inc. (renamed or to be renamed ITG ASCI Holdings Europe, Inc.).
			
	50	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	An Accession Letter executed by ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC) and the Parent.
			
	51	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	A copy of the constitutional documents of ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC) and the Parent.
			
	52	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	UCC-1.

  

 201 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	53	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	 A copy of a resolution of the sole member of ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific
LLC)

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by
it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.
			
	54	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	A specimen of the signature of each person authorised by the resolution referred to in document 53 above.
			
	55	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	A certificate of ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC) (signed by a director) confirming that borrowing or guaranteeing or
securing, as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.
			
	56	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	A certificate of an authorised signatory of ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC) certifying that each copy document
listed in this Schedule applicable to it is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	57	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	If available, the latest audited financial statements of ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC).
			
	58	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	Evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to ASCI Holdings Asia Pacific (DE)
LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC).

  

 202 

  

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	 59
	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by
ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC):
  
 (a)    first lien joinder agreement; and
  
 (b)    second lien joinder agreement.

			
	 60
	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.
			
	 61
	 	ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC)	  	An accession memorandum executed to the Intercreditor Deed by ASCI Holdings Asia Pacific (DE) LLC (renamed or to be renamed ITG ASCI Holdings Asia Pacific LLC).
			
	 62
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	An Accession Letter executed by ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc) and the Parent.
			
	 63
	 	ASCI Holdings Mexico (DE) Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	A copy of the constitutional documents of ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)
			
	 64
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	UCC-1.
			
	 65
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	 A copy of a resolution of the board of directors of ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico,
Inc.):

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by
it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.

  

 203 

					
	 No.
	 	 Name of Obligor
	  	 Description of document

	 66
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	A specimen of the signature of each person authorised by the resolution referred to in document 65 above.
			
	 67
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	A certificate of ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.) (signed by a director) confirming that borrowing or guaranteeing or securing, as
appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.
			
	 68
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	A certificate of an authorised signatory of ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings, Mexico Inc.) certifying that each copy document listed in this Schedule
applicable to it is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	 69
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	If available, the latest audited financial statements of ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)
			
	 70
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	Evidence that the process agent specified in Clause 43.2 (Service of process), if not an Obligor, has accepted its appointment in relation to ASCI Holdings Mexico (DE), Inc. (renamed or
to be renamed ITG ASCI Holdings Mexico, Inc.)
			
	 71
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by ASCI
Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.), Inc:
  
 (a)    first lien joinder agreement;
  
 (b)    second lien joinder agreement;
and
  
 (c)    share security
over its shares in Automotive Safety Components International S.A. de C.V.

			
	 72
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.
			
	 73
	 	ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.)	  	An accession memorandum to the Intercreditor Deed executed by ASCI Holdings Mexico (DE), Inc. (renamed or to be renamed ITG ASCI Holdings Mexico, Inc.).
			
	74	 	 BST US Holdings LLC (renamed or to be renamed ITG Automotive Safety Holdings LLC)
  
 BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)
  
 BST Safety Textiles GmbH (renamed or to be renamed ITG Automotive Safety Textiles
GmbH)
	  	First lien reaffirmation agreement.

  

 204 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	 75
	 	 BST US Holdings LLC (renamed or to be renamed ITG Automotive Safety Holdings LLC)
  
 BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC)
  
 BST Safety Textiles GmbH (renamed or to be renamed ITG Automotive Safety Textiles
GmbH)
	  	Second lien reaffirmation agreement.
			
	 76
	 	Automotive Safety Components International GmbH & Co. KG	  	An Accession Letter executed by Automotive Safety Components International GmbH & Co. KG and the Parent.
			
	 77
	 	Automotive Safety Components International GmbH & Co. KG	  	A copy of the partnership agreement of Automotive Safety Components International GmbH & Co. KG and a recent excerpt from its commercial register.
			
	 78
	 	Automotive Safety Components International GmbH & Co. KG	  	 A copy of a resolution of the sole general partner of Automotive Safety Components International GmbH & Co. KG:

		 	  	  
 (a)
	  	  
 approving the terms of, and the transactions contemplated by, the Accession
Letter and the Finance Documents and resolving that it execute, deliver and perform the Accession Letter and any other Finance Document to which it is party;

				
		 		  	(b)	  	 authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf;

				
		 		  	(c)	  	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by
it under or in connection with the Finance Documents to which it is a party; and

				
		 		  	(d)	  	authorising the Parent to act as its agent in connection with the Finance Documents.
			
	 79
	 	Automotive Safety Components International GmbH & Co. KG	  	A specimen of the signature of each person authorised by the resolution referred to in document 78 above.

  

 205 

							
	 No.
	 	 Name of Obligor
	  	 Description of document

	80	 	Automotive Safety Components International GmbH & Co. KG	  	A certificate of an authorised signatory of Automotive Safety Components International GmbH & Co. KG certifying that each copy document listed in this Schedule applicable to it
is correct, complete and in full force and effect and has not been amended or superseded as at a date no earlier than the date of the Accession Letter.
			
	81	 	Automotive Safety Components International GmbH & Co. KG	  	If available, the latest audited financial statements of Automotive Safety Components International GmbH & Co. KG.
			
	82	 	Automotive Safety Components International GmbH & Co. KG	  	 The following Transaction Security Documents which, consistent with the Security Principles, are required by the Agents to be executed by
Automotive Safety Components International GmbH & Co. KG:
  
 (a)    assignment of all receivables, including, but not limited to intercompany loans;
  
 (b)    security transfer agreement;
  
 (c)    account pledge agreement; and

  
 (d)    assignment of IP
rights by way of security.

			
	83	 	Automotive Safety Components International GmbH & Co. KG	  	Any notices or documents required to be given or executed under the terms of the Transaction Security Documents.
			
	84	 	Automotive Safety Components International GmbH & Co. KG	  	An accession memorandum to the Intercreditor Deed executed by Automotive Safety Components International GmbH & Co. KG.
			
	85	 	 BST US Holdings LLC (renamed or to be renamed ITG Automotive Safety Holdings LLC)
 Original Borrower
  
 BST Safety Textiles GmbH (renamed or
to be renamed ITG Automotive Safety Textiles GmbH)
  
 BST Breitgewebe International GmbH
(renamed or to be renamed ITG Automotive Safety Breitgewebe International GmbH)
  
 BST
Breitgewebe Verwaltungs GmbH (renamed or to be renamed ITG Automotive Safety Textiles GmbH)
  
 Automotive Safety Components International GmbH & Co. KG
	  	 Notarial share pledge and confirmation and amendment agreement.

  

 206 

					
	 No.
	 	 Name of Obligor
	  	 Description of document

	86	 	 Original Borrower
 BST Safety Textiles GmbH (renamed or
to be renamed ITG Automotive Safety Textiles GmbH)
  
 BST Breitgewebe International GmbH
(renamed or to be renamed ITG Automotive Safety Breitgewebe International GmbH)
	  	Confirmation and amendment agreement relating to existing non-notarial security documents.
			
	87	 	BST US Holdings LLC (renamed or to be renamed ITG Automotive Safety Holdings LLC)	  	Perfection certificate.
			
	88	 	 International Textile Group, Inc.
  
 ASCI Holdings Germany (DE), Inc.
  
 Automotive Safety Components International Verwaltungs GmbH
	  	Release agreement relating to the pledge of shares and partnership interests in Automotive Safety Components International Verwaltungs GmbH and Automotive Safety Components International GmbH
& Co. KG.
			
	89	 	International Textile Group, Inc. and BST US Holdings LLC (renamed or to be renamed ITG Automotive Safety US Holdings, LLC)	  	Subordination Agreement in respect of the BST Note
			
	90	 	Certain ASCI Guarantors	  	ASCI Subordination Agreement in respect of ITG debt.
			
	91	 	Parent and ITG	  	Exchange Agreement.

 Part III 
  

			
	 Number
	 	 Description of document

	92	 	A legal opinion of the legal advisers to the Parent as to Mexican law in respect of the enforceability of the Mexican share charge.
		
	93	 	A legal opinion of the legal advisers to the Parent as to English Law.
		
	94	 	A legal opinion of the legal advisers to the Parent as to the law of the State of Delaware.
		
	95	 	A legal opinion of the legal advisers to the Parent as to German law.

  

 207 

 SCHEDULE 15 
 Steps 10 to 14 
 Delivery to: 
  

	 	(a)	the Agents of drafts (or, if available, copies of executed counterparts) of all documentation implementing Steps 10 to 14 (except the fair valuation opinion, if required, in
connection with Step 13 and notifications to the commercial register of Automotive Safety Components International GmbH & Co. KG and Automotive Safety Components International Verwaltungs GmbH regarding the change of ownership in connection
with Step 12) in the agreed form; and 

  

	 	(b)	the Security Agent duly executed copies of any Transaction Security Documents (including amendments to them) and legal opinions (which, in each case, may be undated, copies or
otherwise subject to escrow arrangements satisfactory the Security Agent) required by, and in form and substance satisfactory to, the Security Agent. 

  

 208 

 SIGNATURES 
 [The signatures provisions below are included for historical reference only. Please see the Amendment Agreement for an up-to-date list.] 
  

			
	 THE PARENT
 BST U.S. HOLDINGS,
INC.

		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	THE ORIGINAL BORROWER
	BST SAFETY TEXTILES ACQUISITION GMBH
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	THE REVOLVING BORROWERS
	BST SAFETY TEXTILES GMBH
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	NARRICOT INDUSTRIES L.P.
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	THE GUARANTORS
	THE PARENT
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES ACQUISITION GMBH
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES GMBH
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	BST BREITGEWEBE INTERNATIONAL GMBH
		
	By:	 	  

	Address:	 	
	Fax:	 	

			
	ROSARIA GMBH & CO. KG
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	ROSATA GMBH & CO. KG
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	NARRICOT INDUSTRIES MANAGEMENT CORP.
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	NARRICOT INDUSTRIES L.P.
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	BST AUTOMOTIVE SAFETY TEXTILES LLC
		
	By:	 	  

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES SP. Z O.O
		
	By:	 	  

	Address:	 	
	Fax:	 	

  

 210 

			
	THE MANDATED LEAD ARRANGERS
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	  

	Address:	 	
	Fax:	 	
	Attention:	 	
	
	UBS SECURITIES LLC
		
	By:	 	  

		
	By:	 	  

	Address:	 	
	Fax:	 	
	Attention:	 	
	
	THE PRIORITY AGENT
	GOLDMAN SACHS CREDIT PARTNERS L.P
		
	By:	 	  

	Address:	 	
	Fax:	 	
	Attention:	 	
	
	THE SECOND LIEN AGENT
	UBS AG, STAMFORD BRANCH
		
	By:	 	  

		
	By:	 	  

	Address:	 	
	Fax:	 	
	Attention:	 	
	
	THE SECURITY AGENT
	GOLDMAN SACHS CREDIT PARTNERS L.P
		
	By:	 	  

	 Address:
	 	
	Fax:	 	
	Attention:	 	

  

 211 

			
	SIGNATURES
	THE PARENT
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	THE ORIGINAL BORROWER
	BST SAFETY TEXTILES ACQUISITION GMBH
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	THE REVOLVING BORROWERS
	BST SAFETY TEXTILES ACQUISITION GMBH
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES GMBH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

	Address:	 	
	Fax:	 	

  

 212 

			
	NARRICOT INDUSTRIES L.P.
	acting by its general partner
	NARRICOT INDUSTRIES MANAGEMENT CORP.
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	THE ORIGINAL GUARANTORS
	THE PARENT
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES ACQUISITION GMBH
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES GMBH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES HOLDING GMBH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

	Address:	 	
	Fax:	 	
	
	BST BREITGEWEBE INTERNATIONAL GMBH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

	Address:	 	
	Fax:	 	
	
	NARRICOT INDUSTRIES MANAGEMENT CORP.
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	

  

 213 

			
	NARRICOT INDUSTRIES L.P.
	 acting by its general partner

	NARRICOT INDUSTRIES MANAGEMENT CORP.
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	ITG AUTOMOTIVE SAFETY TEXTILES, LLC
		
	By:	 	 David Wax

	Address:	 	
	Fax:	 	
	
	BST SAFETY TEXTILES SP. Z O.O
		
	By:	 	 Hans Albert Grage

	Address:	 	
	Fax:	 	

  

 214 

			
	BST BREITGEWEBE VERWALTUNGS GMBH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

	
	 BST U.S. HOLDING GMBH & CO. KG
 by its General Partner

	
	BST Breitgewebe Verwaltungs GmbH
		
	By:	 	 Georg Saint-Denis

		
	By:	 	 Hans Albert Grage

  

 215 

			
	THE MANDATED LEAD ARRANGERS
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	 Bruce H. Mendelsohn

		 	Managing Director
	
	 c/o Goldman Sachs International
 Petershill

	1 Carter Lane
	London
	EC4V 5ER
	
	Attention: Nicola Laming
	Tel: +44 207 552 2832
	Fax: +44 207 552 7070
	ficc-ln-loans-agency@ln.email.gs.com
	
	 UBS SECURITIES LLC

		
	By:	 	 Richard L. Tavrow

		 	Director
		
	By:	 	 Irja R. Otsa

		 	Associate Director
	
	UBS Securities LLC
	677 Washington Blvd
	Stamford, CT 06901
	Attn: Christopher Gomes
	
	Tel: 203 719 3241
	Fax: 203 719 4176
	E-mail: christopher.gomes@ubs.com

  

 216 

			
	THE PRIORITY AGENT
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	 Bruce H. Mendelsohn

		 	Managing Director
	
	c/o Goldman Sachs International
	Petershill
	 1 Carter Lane

	London
	EC4V 5ER
	
	Attention: Nicola Laming
	 Tel: +44 207 552 2832

	Fax: +44 207 552 7070
	ficc-ln-loans-agency@ln.email.gs.com
	
	THE SECOND LIEN AGENT
	UBS AG, STAMFORD BRANCH
		
	By:	 	 Irja R. Otsa

		 	Associate Director
		
	By:	 	 Mary E. Evans

		 	Associate Director
	
	Address:
	
	 UBS AG, Stamford Branch
 677 Washington Blvd

 Stamford, CT 06901

	
	 Attn: Christopher Gomes
 Tel: 203 719 3241

 Fax: 203 719 4176

	E-mail: christopher.gomes@ubs.com

  

 217 

			
	THE SECURITY AGENT
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	 Bruce H. Mendelsohn

		 	Managing Director
	
	 c/o Goldman Sachs International
 Petershill

 1 Carter Lane

	 London
 EC4V 5ER

	
	Attention: Nicola Laming
	Tel: +44 207 552 2832
	 Fax: +44 207 552 7070
 ficc-ln-loans-agency@ln.email.gs.com

  

 218 

			
	THE LENDERS
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	 Bruce H. Mendelsohn

		 	Managing Director
	
	c/o Goldman Sachs International
	Petershill 1 Carter Lane London
	EC4V 5ER
	
	Attention: Nicola Laming
	 Tel: +44 207 552 2832
 Fax: +44 207 552 7070

 ficc-ln-loans-agency@ln.email.gs.com

	
	UBS LOAN FINANCE LLC
		
	By:	 	 Richard L. Tavrow

		 	Director
		
	By:	 	 Irja R. Otsa

		 	Associate Director
	
	Address:
	
	UBS Loan Finance LLC
	677 Washington Blvd
	Stamford, CT 06901
	
	Attn: Brian Gross
	 Tel: 203 719 2814
 Fax: 203 719
3888
 E-mail: brian.gross@ubs.com

  

 219 

			
	THE ISSUING BANK
	UBS AG, STAMFORD BRANCH
		
	By:	 	 Irja R. Otsa

		 	Associate Director
		
	By:	 	 Mary E. Evans

		 	Associate Director
	
	Address:
	
	 UBS AG, Stamford Branch
 677 Washington Blvd

 Stamford, CT 06901

	
	 Attn: Christopher Gomes
 Tel: 203 719 3241

 Fax: 203 719 4176

	E-mail: christopher.gomes@ubs.com

  

 220 

 ANNEX B 
 Amended and Restated Intercreditor DeedForm of Senior Debt Indenture

 Exhibit 4.5 
 CELL THERAPEUTICS, INC. 
 Issuer 
 AND 
 [                                       
 ] 
 Trustee 
 INDENTURE

 Dated as of
[                                ] 
 Senior Debt Securities 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	 ARTICLE I
	  	DEFINITIONS	  	1
				
	         Section 1.1
	  		  	 Definitions of Terms
	  	1
			
	 ARTICLE II
	  	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	  	4
				
	         Section 2.1
	  		  	 Designation and Terms of Securities
	  	4
				
	         Section 2.2
	  		  	 Form of Securities and Trustee’s Certificate
	  	6
				
	         Section 2.3
	  		  	 Denominations: Provisions for Payment
	  	6
				
	         Section 2.4
	  		  	 Execution and Authentications
	  	8
				
	         Section 2.5
	  		  	 Registration of Transfer and Exchange
	  	8
				
	         Section 2.6
	  		  	 Temporary Securities
	  	9
				
	         Section 2.7
	  		  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	10
				
	         Section 2.8
	  		  	 Cancellation
	  	10
				
	         Section 2.9
	  		  	 Benefits of Indenture
	  	11
				
	         Section 2.10
	  		  	 Authenticating Agent
	  	11
				
	         Section 2.11
	  		  	 Global Securities
	  	11
			
	 ARTICLE III
	  	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	  	12
				
	         Section 3.1
	  		  	 Redemption
	  	12
				
	         Section 3.2
	  		  	 Notice of Redemption
	  	12
				
	         Section 3.3
	  		  	 Payment Upon Redemption
	  	13
				
	         Section 3.4
	  		  	 Sinking Fund
	  	14
				
	         Section 3.5
	  		  	 Satisfaction of Sinking Fund Payments with Securities
	  	14
				
	         Section 3.6
	  		  	 Redemption of Securities for Sinking Fund
	  	14
			
	 ARTICLE IV
	  	COVENANTS	  	14
				
	         Section 4.1
	  		  	 Payment of Principal, Premium and Interest
	  	14
				
	         Section 4.2
	  		  	 Maintenance of Office or Agency
	  	15
				
	         Section 4.3
	  		  	 Paying Agents
	  	15
				
	         Section 4.4
	  		  	 Appointment to Fill Vacancy in Office of Trustee
	  	16
				
	         Section 4.5
	  		  	 Compliance with Consolidation Prov isions
	  	16
			
	 ARTICLE V
	  	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  	16
				
	         Section 5.1
	  		  	 Company to Furnish Trustee Names and Addresses of Securityholders
	  	16
				
	         Section 5.2
	  		  	 Preservation of Information; Communications With Securityholders
	  	17
				
	         Section 5.3
	  		  	 Reports by the Company
	  	17
				
	         Section 5.4
	  		  	 Reports by the Trustee
	  	17

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
	 ARTICLE VI
	  	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	  	17
				
	         Section 6.1
	  		  	 Events of Default
	  	17
				
	         Section 6.2
	  		  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	19
				
	         Section 6.3
	  		  	 Application of Moneys Collected
	  	20
				
	         Section 6.4
	  		  	 Limitation on Suits
	  	20
				
	         Section 6.5
	  		  	 Rights and Remedies Cumulative; Delay or Omission Not Waiver
	  	21
				
	         Section 6.6
	  		  	 Control by Securityholders
	  	21
				
	         Section 6.7
	  		  	 Undertaking to Pay Costs
	  	22
			
	 ARTICLE VII
	  	CONCERNING THE TRUSTEE	  	22
				
	         Section 7.1
	  		  	 Certain Duties and Responsibilities of Trustee
	  	22
				
	         Section 7.2
	  		  	 Certain Rights of Trustee
	  	23
				
	         Section 7.3
	  		  	 Trustee Not Responsible for Recitals or Issuance or Securities
	  	24
				
	         Section 7.4
	  		  	 May Hold Securities
	  	24
				
	         Section 7.5
	  		  	 Moneys Held in Trust
	  	24
				
	         Section 7.6
	  		  	 Compensation and Reimbursement
	  	25
				
	         Section 7.7
	  		  	 Reliance on Officers’ Certificate
	  	25
				
	         Section 7.8
	  		  	 Disqualification; Conflicting Interests
	  	25
				
	         Section 7.9
	  		  	 Corporate Trustee Required; Eligibility
	  	25
				
	         Section 7.10
	  		  	 Resignation and Removal; Appointment of Successor
	  	26
				
	         Section 7.11
	  		  	 Acceptance of Appointment By Successor
	  	27
				
	         Section 7.12
	  		  	 Merger, Conversion, Consolidation or Succession to Business
	  	28
				
	         Section 7.13
	  		  	 Preferential Collection of Claims Against the Company
	  	28
				
	         Section 7.14
	  		  	 Notice of Default
	  	28
			
	 ARTICLE VIII
	  	CONCERNING THE SECURITYHOLDERS	  	29
				
	         Section 8.1
	  		  	 Evidence of Action by Securityholders
	  	29
				
	         Section 8.2
	  		  	 Proof of Execution by Securityholders
	  	29
				
	         Section 8.3
	  		  	 Who May be Deemed Owners
	  	29
				
	         Section 8.4
	  		  	 Certain Securities Owned by Company Disregarded
	  	30
				
	         Section 8.5
	  		  	 Actions Binding on Future Securityholders
	  	30
			
	 ARTICLE IX
	  	SUPPLEMENTAL INDENTURES	  	30
				
	         Section 9.1
	  		  	 Supplemental Indentures Without the Consent of Securityholders
	  	30

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
	         Section 9.2
	  		  	 Supplemental Indentures With Consent of Securityholders
	  	31
				
	         Section 9.3
	  		  	 Effect of Supplemental Indentures
	  	32
				
	         Section 9.4
	  		  	 Securities Affected by Supplemental Indentures
	  	32
				
	         Section 9.5
	  		  	 Execution of Supplemental Indentures
	  	32
			
	 ARTICLE X
	  	SUCCESSOR ENTITY	  	33
				
	         Section 10.1
	  		  	 Company May Consolidate, Etc
	  	33
				
	         Section 10.2
	  		  	 Successor Entity Substituted
	  	33
				
	         Section 10.3
	  		  	 Evidence of Consolidation, Etc. to Trustee
	  	34
			
	 ARTICLE XI
	  	SATISFACTION AND DISCHARGE	  	34
				
	         Section 11.1
	  		  	 Satisfaction and Discharge of Indenture
	  	34
				
	         Section 11.2
	  		  	 Discharge of Obligations
	  	34
				
	         Section 11.3
	  		  	 Deposited Moneys to be Held in Trust
	  	35
				
	         Section 11.4
	  		  	 Payment of Moneys Held by Paying Agents
	  	35
				
	         Section 11.5
	  		  	 Repayment to Company
	  	35
			
	 ARTICLE XII
	  	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  	35
				
	         Section 12.1
	  		  	 No Recourse
	  	35
			
	 ARTICLE XIII
	  	MISCELLANEOUS PROVISIONS	  	36
				
	         Section 13.1
	  		  	 Effect on Successors and Assigns
	  	36
				
	         Section 13.2
	  		  	 Actions by Successor
	  	36
				
	         Section 13.3
	  		  	 Surrender of Company Powers
	  	36
				
	         Section 13.4
	  		  	 Notices
	  	36
				
	         Section 13.5
	  		  	 Governing Law
	  	36
				
	         Section 13.6
	  		  	 Treatment of Securities as Debt
	  	36
				
	         Section 13.7
	  		  	 Compliance Certificates and Opinions
	  	36
				
	         Section 13.8
	  		  	 Payments on Business Days
	  	37
				
	         Section 13.9
	  		  	 Conflict with Trust Indenture Act
	  	37
				
	         Section 13.10
	  		  	 Counterparts
	  	37
				
	         Section 13.11
	  		  	 Separability
	  	37
				
	         Section 13.12
	  		  	 Compliance Certificates
	  	37

  

 iii 

 INDENTURE 
 INDENTURE, dated as of [                        ], between Cell Therapeutics, Inc.,
a Washington corporation (the “Company”), and                     , as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the
issuance of debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without
coupons, to be authenticated by the certificate of the Trustee; 
 WHEREAS, to provide the terms and conditions upon which the
Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of
Securities: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Definitions of Terms. 
 The terms defined in this Section (except as in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context
otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture
that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto otherwise expressly provided or unless the
context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. 
 “Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee pursuant
to Section 2.10. 
 “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 “Board of Directors” means the Board of Directors of the Company or any duly authorized committee of such Board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted
by the Board of Directors and to be in full force and effect on the date of such certification. 
 “Business Day” means, with
respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New York, are authorized or obligated by law, executive order or regulation to close. 

 “Certificate” means a certificate signed by the chairman of the Board of Directors, any
principal executive officer, any chief executive officer, any president, any senior vice president, any vice president, any principal financial officer or any principal accounting officer, any treasurer or any assistant treasurer, any controller or
any assistant controller, any secretary or any assistant secretary of the Company. The Certificate need not comply with the provisions of Section 13.7. 
 “Company” means Cell Therapeutics, Inc., a corporation duly organized and existing under the laws of the State of Washington, and, subject to the provisions of Article Ten, shall also include its successors
and assigns. 
 “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust
business shall be principally administered, which office at the date hereof is located at                     ,
                                ; Attention:
                    , except that whenever a provision herein refers to an office or agency of the Trustee in the Borough of Manhattan,
the City of New York, such office is located, at the date hereof, at                     , Attn: Corporate Trust Services. 

“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 “Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default. 
 “Depositary” means, with respect to Securities of any series for which the Company shall determine that such Securities will be issued as a
Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or other
applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.1 or 2.11. 
 “Event of Default” means, with respect to Securities of a particular series, any event specified in Section 6.1, continued for the period of time, if any, therein designated. 
 “Global Security” means, with respect to any series of Securities, a Security executed by the Company and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee. 
 “Governmental Obligations” means securities that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America that, in either
case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any
such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or
interest on the Governmental Obligation evidenced by such depositary receipt. 
  

 2 

 “herein,” “hereof” and “hereunder,” and other words of similar import,
refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “Indenture” means this
instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof. 
 “Interest Payment Date,” when used with respect to any installment of interest on a Security of a particular series, means the date specified
in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable. 
 “Officers’ Certificate” means a certificate signed by a chief executive officer, a president, a senior vice president or a vice president
and by the chief financial officer or the treasurer or an assistant treasurer or the controller or an assistant controller or the secretary or an assistant secretary of the Company that is delivered to the Trustee in accordance with the terms
hereof. Each such certificate shall include the statements provided for in Section 13.7, if and to the extent required by the provisions thereof. 
 “Opinion of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with
the terms hereof. Each such opinion shall include the statements provided for in Section 13.7, if and to the extent required by the provisions thereof. 
 “Outstanding,” when used with reference to Securities of any series, means, subject to the provisions of Section 8.4, as of any particular time, all Securities of that series theretofore authenticated
and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled;
(b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall
have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article Three provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution for which other Securities shall have been
authenticated and delivered pursuant to the terms of Section 2.7. 
 “Person” means any individual, corporation, partnership,
joint venture, joint-stock company, limited liability company, unincorporated organization or government or any agency or political subdivision thereof. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this
definition, any Security authenticated and delivered under Section 2.7 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security. 
 “Responsible Officer” when used with respect to the Trustee means any officer in the Corporate Trust Office of the Trustee, or to whom any
corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject. 
 “Securities”
means the debt Securities authenticated and delivered under this Indenture. 
  

 3 

 “Securityholder,” “holder of Securities,” “registered holder,” or other
similar term, means the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture. 
 “Subsidiary” means, with respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the
time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority of whose
outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any
of its Subsidiaries is a general partner. 
 “Trustee” means
                     , and, subject to the provisions of Article Seven, shall also include its successors and assigns, and, if at any
time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to
that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended. 
 “Voting Stock,” as applied to stock of any Person, means shares, interests, participations or other equivalents in the equity interest (however
designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by reason of the
occurrence of a contingency. 
 ARTICLE II 
 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION 
 AND EXCHANGE OF SECURITIES 
 Section 2.1 Designation and Terms of Securities. 
 (a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount of
Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in or
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series); 
 (3) the date or dates on which the principal of the Securities of the series is payable, any original issue discount that may apply to the
Securities of that series upon their issuance, the principal amount due at maturity, and the place(s) of payment; 
 (4) the
rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates, if any; 
  

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 (5) the date or dates from which such interest shall accrue, the Interest Payment Dates
on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the
manner of determination of such record dates; 
 (6) the right, if any, to extend the interest payment periods and the
duration of such extension; 
 (7) the period or periods within which, the price or prices at which and the terms and
conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company; 
 (8) the
obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at
the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

 (9) the form of the Securities of the series including the form of the Certificate of Authentication for such series;

 (10) if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations
in which the Securities of the series shall be issuable; 
 (11) any and all other terms (including terms, to the extent
applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which terms shall not be inconsistent with the
terms of this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series;

 (12) whether the Securities are issuable as a Global Security and, in such case, the terms and the identity of the
Depositary for such series; 
 (13) whether the Securities will be convertible into or exchangeable for shares of common stock
or other securities of the Company or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated
and may be adjusted, any mandatory or optional (at the Company’s option or the holders’ option) conversion or exchange features, and the applicable conversion or exchange period; 
 (14) if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.1; 
 (15) any additional or different
Events of Default or restrictive covenants (which may include, among other restrictions, restrictions on the Company’s ability or the ability of the Company’s Subsidiaries to: incur additional indebtedness; issue additional securities;
create liens; pay dividends or make distributions in respect of their capital stock; redeem capital stock; place restrictions on such Subsidiaries placing restrictions on their ability to pay dividends, make distributions or transfer assets; make
investments or other restricted payments; sell or otherwise dispose of assets; enter into 

  

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sale-leaseback transactions; engage in transactions with stockholders and affiliates; issue or sell stock of their Subsidiaries; or effect a consolidation or
merger) or financial covenants (which may include, among other financial covenants, financial covenants that require the Company and its Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based or asset-based ratios)
provided for with respect to the Securities of the series; 
 (16) if other than dollars, the coin or currency in which the
Securities of the series are denominated (including, but not limited to, foreign currency); 
 (17) the terms and conditions,
if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any Securityholder that is not a “United States person” for federal tax purposes;
and 
 (18) any restrictions on transfer, sale or assignment of the Securities of the series. 
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to any
such Board Resolution or in any indentures supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant
to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’
Certificate of the Company setting forth the terms of the series. 
 Securities of any particular series may be issued at various times, with
different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be
payable and with different redemption dates. 
 Section 2.2 Form of Securities and Trustee’s Certificate. 
 The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and
purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officers’ Certificate, and they may have such letters, numbers or other marks of identification or designation and such
legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange on which Securities of that series may be listed, or to conform to usage. 
 Section 2.3 Denominations: Provisions for Payment. 
 The Securities shall be issuable as
registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.1(10). The Securities of a particular series shall bear interest payable on the dates and at the rate
specified with respect to that series. The principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States
of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York. Each Security shall be dated the date of its
authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. 
  

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 The interest installment on any Security that is payable, and is punctually paid or duly provided for, on
any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment.
In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date,
interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.3. 
 Any interest on
any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder
on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such
Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not
less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than
10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered on such special record date. 
 (2) The Company may
make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in a Board Resolution or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.1 hereof, the term “regular record
date” as used in this Section with respect to a series of Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established
for such series pursuant to Section 2.1 hereof shall occur, if such Interest Payment Date is the first day of a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for such series
pursuant to Section 2.1 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day. 
  

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 Subject to the foregoing provisions of this Section, each Security of a series delivered under this
Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 
 Section 2.4 Execution and Authentications. 
 The Securities shall be signed on behalf of the Company by its chief executive officer, or one of its presidents, or one of its senior vice presidents, or one of its vice presidents, or its chief financial officer, or
its chief legal officer, or its treasurer, or one of its assistant treasurers, or its controller or one of its assistant controllers, or its secretary, or one of its assistant secretaries, under its corporate seal attested by its secretary or one of
its assistant secretaries. Signatures may be in the form of a manual or facsimile signature. 
 The Company may use the facsimile signature
of any Person who shall have been a chief executive officer, president, senior vice president or vice president thereof, chief financial officer, chief legal officer, treasurer or assistant treasurer, controller or assistant controller, secretary or
assistant secretary thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The seal of the Company may be in the form
of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall be
dated the date of its authentication by the Trustee. 
 A Security shall not be valid until authenticated manually by an authorized signatory
of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by a chief executive officer, president, senior vice president or any vice president, chief financial officer, chief legal officer, treasurer or assistant treasurer, controller or assistant
controller, and its secretary or any assistant secretary, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 
 In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be
fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture. 
 The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and
this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 
 Section 2.5 Registration of Transfer and
Exchange. 
 (a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for
such purpose in the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other
governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 
  

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 (b) The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in
the Borough of Manhattan, the City and State of New York, or such other location designated by the Company, a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities
and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the “Security Registrar”). 
 Upon surrender for transfer of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee
or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount. 
 All
Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form
satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 
 (c) Except as provided pursuant to Section 2.1 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, no service
charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge in relation thereto, other than exchanges pursuant to Section 2.6, Section 3.3(b) and Section 9.4 not involving any transfer. 
 (d) The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than
all the Outstanding Securities of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption, other
than the unredeemed portion of any such Securities being redeemed in part. The provisions of this Section 2.5 are, with respect to any Global Security, subject to Section 2.11 hereof. 
 Section 2.6 Temporary Securities. 
 Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such
temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the
Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series.
Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the
office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal
aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the 

  

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effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of
such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder. 
 Section 2.7 Mutilated, Destroyed, Lost or Stolen Securities. 
 In case any temporary or
definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a
new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the
applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the
written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 In case any Security that has matured
or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security)
if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the
Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 
 Every replacement Security issued pursuant to the
provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the
contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 
 Section 2.8 Cancellation. 
 All Securities surrendered for the purpose of payment, redemption, exchange or registration
of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly
required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee
may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a
redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 
  

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 Section 2.9 Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties hereto and
the holders of the Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the sole
benefit of the parties hereto and of the holders of the Securities. 
 Section 2.10 Authenticating Agent. 
 So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of Securities which the
Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities by the Trustee
shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or
determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to
supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 
 Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time
(and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of any
Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and
duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 
 Section 2.11 Global
Securities. 
 (a) If the Company shall establish pursuant to Section 2.1 that the Securities of a particular series are to be issued
as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.4, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the
Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 
 (b) Notwithstanding the provisions of
Section 2.5, the Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.5, only to another nominee of the Depositary for such series, or to a successor Depositary for such series
selected or approved by the Company or to a nominee of such successor Depositary. 
  

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 (c) If at any time the Depositary for a series of the Securities notifies the Company that it is
unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has
received a request from the Depositary, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.4, the Trustee will authenticate and deliver the Securities of
such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the
Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the
Company will execute and, subject to Section 2.4, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form
without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities
in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this
Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 
 ARTICLE III 

REDEMPTION OF SECURITIES AND 
 SINKING FUND PROVISIONS 
 Section 3.1 Redemption. 
 The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series
pursuant to Section 2.1 hereof. 
 Section 3.2 Notice of Redemption. 
 (a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in accordance
with any right the Company reserved for itself to do so pursuant to Section 2.1 hereof, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing,
first class postage prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register,
unless a shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any
case, failure duly to give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other
Securities of such series or any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with any such restriction. 
  

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 Each such notice of redemption shall specify the date fixed for redemption and the redemption price at
which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New
York, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is for a
sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so redeemed. 

In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof
to be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 
 (b) If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’ notice in advance of the
date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion and that may
provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and
shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by its chief executive
officer, president or any senior vice president or vice president, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in
this Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall
deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee
or such paying agent to give any notice by mail that may be required under the provisions of this Section. 
 Section 3.3 Payment
Upon Redemption. 
 (a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of
Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and
interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security
or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such
series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close
of business on the applicable record date pursuant to Section 2.3). 
 (b) Upon presentation of any Security of such series that is to
be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of
authorized denominations in principal amount equal to the unredeemed portion of the Security so presented. 
  

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 Section 3.4 Sinking Fund. 
 The provisions of Sections 3.4, 3.5 and 3.6 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 2.1 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an
“optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.5. Each sinking fund payment shall be applied
to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 Section 3.5 Satisfaction
of Sinking Fund Payments with Securities. 
 The Company (i) may deliver Outstanding Securities of a series and (ii) may apply
as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided
that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and
the amount of such sinking fund payment shall be reduced accordingly. 
 Section 3.6 Redemption of Securities for Sinking Fund. 

 Not less than 45 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 3.5 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 3.2. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.3. 
 ARTICLE IV 
 COVENANTS 
 Section 4.1 Payment of Principal, Premium and Interest. 
 The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided herein and established
with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check drawn on and 

  

 14 

 
mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S.
dollar account (such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series in excess of two million U.S. dollars ($2,000,000) and only if such Securityholder shall have furnished
wire instructions to the Trustee no later than 15 days prior to the relevant payment date). Payments of interest on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to
the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account (such a wire transfer to be made only to a Securityholder of an aggregate principal
amount of Securities of the applicable series in excess of two million U.S. dollars ($2,000,000) and only if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee no later than 15 days prior
to the relevant payment date). 
 Section 4.2 Maintenance of Office or Agency. 
 So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough of Manhattan, the City and
State of New York, with respect to each such series and at such other location or locations as may be designated as provided in this Section 4.2, where (i) Securities of that series may be presented for payment, (ii) Securities of
that series may be presented as herein above authorized for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such
designation to continue with respect to such office or agency until the Company shall, by written notice signed by any officer authorized to sign an Officers’ Certificate and delivered to the Trustee, designate some other office or agency for
such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. The Company initially appoints the corporate trust office of
[                            ], an affiliate of the Trustee, located in the Borough of
Manhattan, the City of New York as its paying agent with respect to the Securities. 
 Section 4.3 Paying Agents. 
 (a) If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause each
such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 
 (1) that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the
Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 
 (2) that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of
the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 
 (3) that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent;
and 
  

 15 

 (4) that it will perform all other duties of paying agent as set forth in this Indenture.

 (b) If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due date of
the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so
becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities)
to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the
paying agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the
Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 
 (c) Notwithstanding anything in this Section to
the contrary, (i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.5, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such
sums were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money. 
 Section 4.4 Appointment to Fill Vacancy in Office of Trustee. 
 The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder.

 Section 4.5 Compliance with Consolidation Provisions. 
 The Company will not, while any of the Securities remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is
not the survivor of such transaction, or sell or convey all or substantially all of its property to any other Person unless the provisions of Article Ten hereof are complied with. 
 ARTICLE V 
 SECURITYHOLDERS’ LISTS AND REPORTS BY 
 THE COMPANY AND THE TRUSTEE 
 Section 5.1 Company to Furnish Trustee Names and Addresses of Securityholders. 
 The Company will furnish or cause to be
furnished to the Trustee (a) on each regular record date (as defined in Section 2.3) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular
record date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company (however, if no
regular record date is applicable with respect to a series, the Company shall furnish or cause to be furnished to the Trustee such list not later than May 16 and November 16 of each year) and (b) at such other times as the Trustee may request
in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list
need be furnished for any series for which the Trustee shall be the Security Registrar. 
  

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 Section 5.2 Preservation of Information; Communications With Securityholders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of
Securities contained in the most recent list furnished to it as provided in Section 5.1 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).

 (b) The Trustee may destroy any list furnished to it as provided in Section 5.1 upon receipt of a new list so furnished. 

(c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their
rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of
Section 312(b) of the Trust Indenture Act. 
 Every Securityholder, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of Securityholders in accordance with Section 312(b) of
the Trust Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture
Act. 
 Section 5.3 Reports by the Company. 
 The Company covenants and agrees to provide a copy to the Trustee, within 15 days after the Company is required to file the same with the Securities and Exchange Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of the foregoing as the Securities and Exchange Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the
Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange Act. If the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the
Trustee and the Securities and Exchange Commission, in accordance with rules and regulations prescribed from time to time by such commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to
Section 13 of the Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations. 
 The Company further covenants and agrees to file with the Trustee and the Securities and Exchange Commission, in accordance with rules and regulations
prescribed from time to time by such commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and
regulations. 
 The Company further covenants and agrees to transmit, within 30 days after the filing thereof with the Trustee, to
Securityholders, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the Company pursuant to the immediate two preceding
paragraphs of this Section as may be required by rules and regulations prescribed from time to time by the Securities and Exchange Commission. 
 Section 5.4 Reports by the Trustee. 
 (a) On or before May 1 in each year in which any of the Securities are
Outstanding, the Trustee shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of the preceding May 1, if and to the extent required
under Section 313(a) of the Trust Indenture Act. 
 (b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust
Indenture Act. 
 (c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the
Company, with each securities exchange upon which any Securities are listed (if so listed) and also with the Securities and Exchange Commission. The Company agrees to notify the Trustee when any Securities become listed on any securities exchange.

 ARTICLE VI 
 REMEDIES
OF THE TRUSTEE AND SECURITYHOLDERS 
 ON EVENT OF DEFAULT 
 Section 6.1 Events of Default. 
 (a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following events that has occurred and is continuing: 
 (1) the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the same
shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not
constitute a default in the payment of interest for this purpose; 
  

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 (2) the Company defaults in the payment of the principal of (or premium, if any, on) any
of the Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that
series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any; 
 (3) the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this
Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.1 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of
Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to
the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding; 
 (4) the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the
entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment for the benefit of its creditors; or

 (5) a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the
Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days.

 (b) In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the
principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in
writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately, and upon any
such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that
series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities. 
 (c) At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under
applicable law, upon overdue installments of interest, at the rate per annum expressed in the 

  

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Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.6, and (ii) any and all
Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms, shall
have been remedied or waived as provided in Section 6.6. 
 No such rescission and annulment shall extend to or shall affect any
subsequent default or impair any right consequent thereon. 
 (d) In case the Trustee shall have proceeded to enforce any right with respect
to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in
every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall
continue as though no such proceedings had been taken. 
 Section 6.2 Collection of Indebtedness and Suits for Enforcement by
Trustee. 
 (a) The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the
Securities of a series, and such default shall have continued for a period of 90 Business Days, or (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall
have become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series as and when the
same shall have become due and payable, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all
such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon
overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the
Trustee under Section 7.6. 
 (b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name
and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final
decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity out of the property of
the Company or other obligor upon the Securities of that series, wherever situated. 
 (c) In case of any receivership, insolvency,
liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein
that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the
holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same 

  

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after the deduction of the amount payable to the Trustee under Section 7.6; and any receiver, assignee or trustee in bankruptcy or reorganization is
hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any
amount due it under Section 7.6. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of the terms
established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.6, be for the ratable benefit of the
holders of the Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect
and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for
the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any
such proceeding. 
 Section 6.3 Application of Moneys Collected. 
 Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at
the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only
partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of reasonable costs and expenses of collection and of all
amounts payable to the Trustee under Section 7.6; 
 SECOND: To the payment of the amounts then due and unpaid upon Securities of such
series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities
for principal (and premium, if any) and interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company or any
other Person lawfully entitled thereto. 
 Section 6.4 Limitation on Suits. 
 No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice
of an Event of Default and 

  

 20 

 
of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of
not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such
holder or holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee for 90 days after its receipt of such notice,
request and offer of indemnity, shall have failed to institute any such action, suit or proceeding and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a
direction inconsistent with the request. 
 Notwithstanding anything contained herein to the contrary or any other provisions of this
Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of
redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security
hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any
right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any
other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of
this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 
 Section 6.5 Rights and Remedies Cumulative; Delay or Omission Not Waiver. 
 (a) Except as otherwise provided in
Section 2.7, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the
holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 
 (b) No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default
occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions of Section 6.4, every power and remedy given by this
Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 
 Section 6.6 Control by Securityholders. 
 The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.4, shall have the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture.
Subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine that the proceeding so
directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority in 

  

 21 

 
aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.4, may on
behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.1 with respect to such series and its consequences, except a
default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been
cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.1(c)). Upon any such waiver, the default covered thereby shall be deemed to
be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon. 
 Section 6.7 Undertaking to Pay Costs. 
 All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of
an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of
the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10% in
aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or
after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 ARTICLE VII 
 CONCERNING THE TRUSTEE 
 Section 7.1 Certain Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an Event of
Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such
duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that
has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs. 
 (b) No provision of this Indenture shall be construed to
relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred:

  

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 (A) the duties and obligations of the Trustee shall with respect to the Securities of
such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth
in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (B)
in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates
or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall
be under a duty to examine the same to determine whether or not they conform to the requirement of this Indenture; 
 (ii) the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and 
 (iv) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its
rights or powers if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it.

 Section 7.2 Certain Rights of Trustee. 
 Except as otherwise provided in Section 7.1: 
 (a) The Trustee may rely and shall be protected in acting
or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties; 
 (b) Any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically prescribed herein); 
 (c) The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 
 (d) The Trustee shall be
under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of 

  

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this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities
that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to
exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs; 
 (e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) The Trustee shall
not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.4); provided, however, that if the payment within a
reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms
of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee,
shall be repaid by the Company upon demand; and 
 (g) The Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 
 Section 7.3 Trustee Not Responsible for Recitals or Issuance or Securities. 
 (a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the
correctness of the same. 
 (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities. 
 (c) The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds
of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.1, or for the use or application of any moneys received by any
paying agent other than the Trustee. 
 Section 7.4 May Hold Securities. 
 The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the
same rights it would have if it were not Trustee, paying agent or Security Registrar. 
 Section 7.5 Moneys Held in Trust.

 Subject to the provisions of Section 11.5, all moneys received by the Trustee shall, until used or applied as herein provided, be
held in trust for the purposes for which they were received, but need not be 

  

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segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder
except such as it may agree with the Company to pay thereon. 
 Section 7.6 Compensation and Reimbursement. 
 (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited
by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the
exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except any
such expense, disbursement or advance as may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also covenants to indemnify the Trustee (and its officers, agents,
directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this
trust, including the reasonable costs and expenses of defending itself against any claim of liability in the premises. 
 (b) The obligations
of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall
be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 
 Section 7.7 Reliance on Officers’ Certificate. 
 Except as otherwise provided in Section 7.1, whenever in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be proved or established
prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to
be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken,
suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 
 Section 7.8 Disqualification;
Conflicting Interests. 
 If the Trustee has or shall acquire any “conflicting interest” within the meaning of
Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 Section 7.9 Corporate Trustee Required; Eligibility. 
 There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any state
or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Securities and Exchange Commission, authorized under such laws to exercise 

  

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corporate trust powers, having (or, in the case of a subsidiary of a bank holding company, its bank holding company parent shall have) a combined capital and
surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority. 
 If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in
the manner and with the effect specified in Section 7.10. 
 Section 7.10 Resignation and Removal; Appointment of Successor.

 (a) The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series by
giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such
notice of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered
to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on
behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

 (b) In case at any time any one of the following shall occur: 
 (i) the Trustee shall fail to comply with the provisions of Section 7.8 after written request therefor by the Company or by any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (ii) the Trustee
shall cease to be eligible in accordance with the provisions of Section 7.9 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or 
 (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation; 
 then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of
a Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of 

  

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competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it
may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the
Company. 
 (d) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 
 (e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to
the Securities of any particular series. 
 Section 7.11 Acceptance of Appointment By Successor. 
 (a) In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee
hereunder. 
 (b) In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all)
series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and
which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that
each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any
other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the
Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this
Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring 

  

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Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money
held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee relates. 
 (c) Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts
referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor trustee shall accept its appointment
unless at the time of such acceptance such successor trustee shall be qualified and eligible under this Article. 
 (e) Upon acceptance of
appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the
Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 
 Section 7.12 Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee (including the administration of the trust created by this Indenture), shall
be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.8 and eligible under the provisions of Section 7.9, without the execution or filing of any paper or any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 Section 7.13 Preferential Collection of Claims Against the Company. 
 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the
Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 
 Section 7.14 Notice of Default. 
 If any Default or any Event of Default occurs and is continuing
and if such Default or Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Default
or Event of Default within 45 days after it occurs, unless such Default or Event of Default has been cured; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any
Security, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the
withholding of such notice is in the interest of the Securityholders. 
  

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 ARTICLE VIII 
 CONCERNING THE SECURITYHOLDERS 
 Section 8.1 Evidence of Action by Securityholders.

 Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of
such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed
in writing. 
 If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice,
consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be
given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of
Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date. 
 Section 8.2 Proof of Execution by Securityholders. 
 Subject to the provisions of Section 7.1, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or
his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a)
The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 
 (b) The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof. 
 The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary. 
 Section 8.3 Who May be Deemed Owners. 
 Prior to the due presentment for registration of transfer of any Security, the
Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall
be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.3)
interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 
  

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 Section 8.4 Certain Securities Owned by Company Disregarded. 
 In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction,
consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control
with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected
in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for
the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. 
 Section 8.5 Actions Binding on Future Securityholders. 
 At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.1, of the taking of any action by the holders of the majority or percentage in aggregate principal amount of the
Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action
may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.2, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be
conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in
regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be
conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 Section 9.1 Supplemental Indentures Without the Consent of Securityholders. 
 In addition to any supplemental indenture
otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect),
without the consent of the Securityholders, for one or more of the following purposes: 
 (a) to cure any ambiguity, defect, or inconsistency
herein or in the Securities of any series; 
 (b) to comply with Article Ten; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 
  

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 (d) to add to the covenants, restrictions, conditions or provisions relating to the Company for the
benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of Securities, stating that such covenants, restrictions, conditions or
provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default,
or to surrender any right or power herein conferred upon the Company; 
 (e) to add to, delete from, or revise the conditions, limitations,
and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth; 
 (f) to make any change that does not adversely affect the rights of any Securityholder in any material respect; 
 (g) to provide
for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.1, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any
series of Securities, or to add to the rights of the holders of any series of Securities; 
 (h) to evidence and provide for the acceptance
of appointment hereunder by a successor trustee; or 
 (i) to comply with any requirements of the Securities and Exchange Commission or any
successor in connection with the qualification of this Indenture under the Trust Indenture Act. 
 The Trustee is hereby authorized to join
with the Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture
that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized
by the provisions of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.2. 
 Section 9.2 Supplemental Indentures With Consent of Securityholders. 
 With the consent (evidenced as provided in Section 8.1) of the holders of not less than a majority in aggregate principal amount of the Securities of
each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture
or of modifying in any manner not covered by Section 9.1 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each
Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium
payable upon the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture. 
  

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 It shall not be necessary for the consent of the Securityholders of any series affected thereby under
this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 Section 9.3 Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture
pursuant to the provisions of this Article or of Section 10.1, this Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 Section 9.4 Securities Affected by Supplemental Indentures. 
 Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or of Section 10.1, may
bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the
Trustee and delivered in exchange for the Securities of that series then Outstanding. 
 Section 9.5 Execution of Supplemental
Indentures. 
 Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental
indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental
indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to
the provisions of Section 7.1, may receive an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms
of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Officers’ Certificate or Opinion of Counsel need not be provided in connection with the
execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.1 hereof. 
 Promptly
after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of
such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way
impair or affect the validity of any such supplemental indenture. 
  

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 ARTICLE X 
 SUCCESSOR ENTITY 
 Section 10.1 Company May Consolidate, Etc. 
 Except as provided pursuant to Section 2.1 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or
more indentures supplemental to this Indenture, nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or
mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or
substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however, the Company hereby covenants and agrees that, upon any
such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, (a) the due and punctual payment of the principal of (premium, if any) and interest on all of
the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each series or established
with respect to such series pursuant to Section 2.1 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably
satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property and (b) in the
event that the Securities of any series then Outstanding are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental indenture, make provision so that the
Securityholders of Securities of that series shall thereafter be entitled to receive upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common stock or other securities of
the Company deliverable upon conversion or exchange of those Securities would have been entitled had such conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition. 

Section 10.2 Successor Entity Substituted. 
 (a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee and
satisfactory in form to the Trustee, of the obligations set forth under Section 10.1 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had
been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 (b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may
be appropriate. 
 (c) Nothing contained in this Article shall require any action by the Company in the case of a consolidation or merger of
any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated with the Company).

  

 33 

 Section 10.3 Evidence of Consolidation, Etc. to Trustee. 
 The Trustee, subject to the provisions of Section 7.1, may receive an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that
any such consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article. 
 ARTICLE XI 
 SATISFACTION AND DISCHARGE 
 Section 11.1 Satisfaction and Discharge of Indenture. 
 If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other than any
Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.7 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or
segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.5); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for
cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption,
and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if
any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then
this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.3, 2.5, 2.7, 4.1, 4.2, 4.3 and 7.10, that shall survive until the date of maturity or redemption date, as the case may
be, and Sections 7.6 and 11.5, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging this
Indenture with respect to such series. 
 Section 11.2 Discharge of Obligations. 
 If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable
as described in Section 11.1 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption all such Securities of
that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall
also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the Company
under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.3, 2.5, 2.7, 4.1, 4.2, 4.3, 7.6, 7.10 and 11.5 hereof that shall survive until such Securities shall mature and be paid.

 Thereafter, Sections 7.6 and 11.5 shall survive. 
  

 34 

 Section 11.3 Deposited Moneys to be Held in Trust. 
 All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.1 or 11.2 shall be held in trust and shall be available for
payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations
have been deposited with the Trustee. 
 Section 11.4 Payment of Moneys Held by Paying Agents. 
 In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the
provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 
 Section 11.5 Repayment to Company. 
 Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on the Securities of a particular series that are not
applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable, or such other
shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May 31 of each year or upon the Company’s request or (if then held by the Company) shall be discharged from such
trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as
a general creditor, look only to the Company for the payment thereof. 
 ARTICLE XII 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, 
 OFFICERS AND DIRECTORS 
 Section 12.1 No Recourse. 
 No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in
respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such predecessor
or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are
solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation,
or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such
personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the
creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition
of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 
  

 35 

 ARTICLE XIII 
 MISCELLANEOUS PROVISIONS 
 Section 13.1 Effect on Successors and Assigns. 
 All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns,
whether so expressed or not. 
 Section 13.2 Actions by Successor. 
 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company
shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 
 Section 13.3 Surrender of Company Powers. 
 The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered shall
terminate both as to the Company and as to any successor corporation. 
 Section 13.4 Notices. 
 Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given,
made or served by the Trustee or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being deposited in first class mail, postage prepaid, addressed (until another address is
filed in writing by the Company with the Trustee), as follows: Cell Therapeutics, Inc., 501 Elliott Avenue West, Suite 400, Seattle, Washington 98119, Attention: Louis A. Bianco (telecopy no.: (206) 284-6206). Any notice, election, request or
demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office
of the Trustee. 
 Section 13.5 Governing Law. 
 This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State, except to the
extent that the Trust Indenture Act is applicable. 
 Section 13.6 Treatment of Securities as Debt. 
 It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture
shall be interpreted to further this intention. 
 Section 13.7 Compliance Certificates and Opinions. 
 (a) Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall
furnish to the Trustee an Officers’ Certificate stating 

  

 36 

 
that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture
relating to such particular application or demand, no additional certificate or opinion need be furnished. 
 (b) Each certificate or opinion
provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (i) a statement that the Person making such certificate or opinion has read such covenant or
condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of such
Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in
the opinion of such Person, such condition or covenant has been complied with. 
 Section 13.8 Payments on Business Days.

 Except as provided pursuant to Section 2.1 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or
principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 

Section 13.9 Conflict with Trust Indenture Act. 
 If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.

 Section 13.10 Counterparts. 
 This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 Section 13.11 Separability. 
 In
case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 Section 13.12 Compliance Certificates. 
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series were outstanding, an Officers’ Certificate stating whether or not the signers know of any Default or
Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the Company that a review has been conducted
of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section 13.12, such compliance shall be

  

 37 

 
determined without regard to any period of grace or requirement of notice provided under this Indenture. If any of the officers of the Company signing such
certificate has knowledge of such a Default or Event of Default, the certificate shall describe any such Default or Event of Default and its status. 
 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed all as of the day and year first above written. 
  

			
	CELL THERAPEUTICS, INC.
		
	 By:
	 	  

		
	 Name:
	 	
		
	 Title:
	 	
	 [                                       
                                         
    ],
 as Trustee

		
	 By:
	 	  

		
	 Name:
	 	
		
	 Title:
	 	

  

 38 

 CROSS-REFERENCE TABLE* 
  

					
	 TIA SECTION
	  	 INDENTURE SECTION

	Section	  	310(a)(1)	  	 7.9

		  	(a)(2)	  	 7.9

		  	(a)(3)	  	N/A**
		  	(a)(4)	  	N/A**
		  	(a)(5)	  	 7.9

		  	(b)	  	 7.8, 7.10, 7.11

		  	(c)	  	N/A**
			
	Section	  	311(a)	  	 7.13

		  	(b)	  	 7.13

		  	(c)	  	N/A**
			
	Section	  	312(a)	  	5.1, 5.2
		  	(b)	  	5.2
		  	(c)	  	5.2
			
	Section	  	313(a)	  	5.4
		  	(b)(1)	  	N/A**
		  	(b)(2)	  	5.4
		  	(c)	  	5.4
		  	(d)	  	5.4
			
	Section	  	314(a)	  	5.3, 13.12
		  	(b)	  	N/A**
		  	(c)(1)	  	13.7
		  	(c)(2)	  	13.7
		  	(c)(3)	  	N/A**
		  	(d)	  	N/A**
		  	(e)	  	13.7
		  	(f)	  	N/A**
			
	Section	  	315(a)	  	7.1(b)
		  	(b)	  	 7.14

		  	(c)	  	7.1(a)
		  	(d)	  	7.1(b)
		  	(e)	  	 6.7

			
	Section	  	316(a)(last sentence)	  	1.1, 8.4
		  	(a)(1)(A)	  	 6.6

		  	(a)(1)(B)	  	 6.6

		  	(a)(2)	  	N/A
		  	(b)	  	6.4

					
	 TIA SECTION
	  	 INDENTURE SECTION

	Section	  	317(a)(1)	  	6.2(b)
		  	(a)(2)	  	6.2(c)
		  	(b)	  	4.3
			
	Section	  	318(a)	  	13.9

  

	*	This Cross-Reference Table shall not, for any purpose, be deemed a part of this Indenture. 

  

	**	N/A means Not Applicable

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