Document:

exv10w6

Exhibit 10.6

THIRD AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

Dated as of May 19, 2010

among

CGSF FUNDING CORPORATION,

as Seller,

McKESSON CORPORATION,

as Servicer,

THE CONDUIT PURCHASERS FROM TIME TO TIME PARTY HERETO,

THE COMMITTED PURCHASERS FROM TIME TO TIME PARTY HERETO,

THE MANAGING AGENTS FROM TIME TO TIME PARTY HERETO,

and

JPMORGAN CHASE BANK, N.A.,

as Collateral Agent

 

 

TABLE
OF CONTENTS

	 	 	 	 	 

	
	 	 	Page	 
	ARTICLE I PURCHASE ARRANGEMENTS
	 	 	2	 
	Section 1.1 Purchase Facility
	 	 	2	 
	Section 1.2 Increases
	 	 	2	 
	Section 1.3 Decreases
	 	 	3	 
	Section 1.4 Payment Requirements
	 	 	3	 
	ARTICLE II PAYMENTS AND COLLECTIONS
	 	 	3	 
	Section 2.1 Payments
	 	 	3	 
	Section 2.2 Collections Prior to Amortization
	 	 	3	 
	Section 2.3 Collections Following Amortization
	 	 	4	 
	Section 2.4 Application of Collections
	 	 	4	 
	Section 2.5 Payment Rescission
	 	 	5	 
	Section 2.6 Seller Interest
	 	 	5	 
	Section 2.7 Clean Up Call
	 	 	5	 
	ARTICLE III FUNDING
	 	 	5	 
	Section 3.1 General Funding Provisions
	 	 	5	 
	Section 3.2 Yield Payments
	 	 	6	 
	Section 3.3 Selection and Continuation of Tranche Periods
	 	 	6	 
	Section 3.4 Committed Purchaser Discount Rates
	 	 	6	 
	Section 3.5 Suspension of the LIBO Rate
	 	 	6	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	7	 
	Section 4.1 Representations and Warranties of Seller Parties
	 	 	7	 
	Section 4.2 Committed Purchaser Representations and Warranties
	 	 	10	 
	ARTICLE V CONDITIONS OF PURCHASES
	 	 	11	 
	Section 5.1 Conditions Precedent to the Effectiveness of this Agreement
	 	 	11	 
	Section 5.2 Conditions Precedent to All Purchases and Reinvestment
	 	 	11	 
	ARTICLE VI COVENANTS
	 	 	12	 
	Section 6.1 Affirmative Covenants of the Seller Parties
	 	 	12	 
	Section 6.2 Negative Covenants of the Seller Parties
	 	 	18	 
	ARTICLE VII ADMINISTRATION AND COLLECTION
	 	 	19	 
	Section 7.1 Designation of Servicer
	 	 	19	 
	Section 7.2 Duties of Servicer
	 	 	20	 
	Section 7.3 Collection Notices
	 	 	21	 
	Section 7.4 Responsibilities of Seller
	 	 	21	 
	Section 7.5 Reports
	 	 	21	 
	Section 7.6 Servicing Fees
	 	 	21	 
	Section 7.7 Financial Covenant
	 	 	22	 
	ARTICLE VIII AMORTIZATION EVENTS
	 	 	22	 
	Section 8.1 Amortization Events
	 	 	22	 
	Section 8.2 Remedies
	 	 	23	 
	ARTICLE IX INDEMNIFICATION
	 	 	23	 
	Section 9.1 Indemnities by the Seller Parties
	 	 	23	 
	Section 9.2 Increased Cost and Reduced Return
	 	 	26	 
	Section 9.3 Other Costs and Expenses
	 	 	28	 
	Section 9.4 Withholding Tax Exemption
	 	 	28	 
	Section 9.5 Accounting Based Consolidation Event
	 	 	28	 
	ARTICLE X THE AGENTS
	 	 	29	 
	Section 10.1 Authorization and Action
	 	 	29	 
	Section 10.2 Delegation of Duties
	 	 	30	 

-i-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 

	
	 	 	Page	 
	Section 10.3 Exculpatory Provisions
	 	 	30	 
	Section 10.4 Reliance by Agents
	 	 	30	 
	Section 10.5 Non-Reliance on Agents and Other Purchasers
	 	 	31	 
	Section 10.6 Reimbursement and Indemnification
	 	 	31	 
	Section 10.7 Agents in their Individual Capacities
	 	 	31	 
	Section 10.8 Successor Agent
	 	 	31	 
	ARTICLE XI ASSIGNMENTS; PARTICIPATIONS
	 	 	32	 
	Section 11.1 Assignments
	 	 	32	 
	Section 11.2 Participations
	 	 	33	 
	Section 11.3 Additional Purchaser Groups; Joinder by Conduit Purchaser
	 	 	33	 
	Section 11.4 Extension of Facility Termination Date
	 	 	34	 
	Section 11.5 Terminating Committed Purchasers
	 	 	34	 
	ARTICLE XII MISCELLANEOUS
	 	 	35	 
	Section 12.1 Waivers and Amendments
	 	 	35	 
	Section 12.2 Notices
	 	 	36	 
	Section 12.3 Ratable Payments
	 	 	36	 
	Section 12.4 Protection of Ownership Interests of the Purchasers
	 	 	37	 
	Section 12.5 Confidentiality
	 	 	37	 
	Section 12.6 Bankruptcy Petition
	 	 	38	 
	Section 12.7 Limitation of Liability; Limitation of Payment; No Recourse
	 	 	38	 
	Section 12.8 CHOICE OF LAW
	 	 	39	 
	Section 12.9 CONSENT TO JURISDICTION
	 	 	39	 
	Section 12.10 WAIVER OF JURY TRIAL
	 	 	40	 
	Section 12.11 Integration; Binding Effect; Survival of Terms
	 	 	40	 
	Section 12.12 Counterparts; Severability; Section References
	 	 	40	 
	Section 12.13 Agent Roles
	 	 	40	 
	Section 12.14 Characterization
	 	 	41	 
	Section 12.15 Amendment and Restatement
	 	 	41	 
	Section 12.16 Federal Reserve
	 	 	41	 
	Section 12.17 USA PATRIOT Act
	 	 	41	 

-ii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	 	 	 
	EXHIBITS
	 	 	 	 
	 
	 	 	 	 
	Exhibit I

	 	-
	 	Definitions
	Exhibit II

	 	-
	 	Form of Purchase Notice
	Exhibit II-A

	 	-
	 	Form of Reduction Notice
	Exhibit III

	 	-
	 	Places of Business of the Seller Parties; Locations of Records; Federal Employer
Identification Number(s)
	Exhibit IV

	 	-
	 	Names of Collection Banks; Collection Accounts
	Exhibit V

	 	-
	 	Form of Compliance Certificate
	Exhibit VI

	 	-
	 	Form of Collection Account Agreement
	Exhibit VII

	 	-
	 	Form of Assignment Agreement
	Exhibit VIII

	 	-
	 	Credit and Collection Policy
	Exhibit IX

	 	-
	 	Form of Contract(s)
	Exhibit X

	 	-
	 	Form of Monthly Report
	Exhibit XI

	 	-
	 	Form of Joinder Agreement
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	Schedule A

	 	-
	 	Purchaser Groups and Commitments
	Schedule B

	 	-
	 	Purchaser Group Notice and Payment Information
	Schedule C

	 	-
	 	Documents to Be Delivered on Effective Date

-iii-

 

THIRD AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

     This Third Amended and Restated Receivables Purchase Agreement dated as of May 19, 2010 (as
amended, restated, supplemented or otherwise modified and in effect from time to time, this
“Agreement”) is among CGSF Funding Corporation, a Delaware corporation (“Seller”),
McKesson Corporation, a Delaware corporation, as initial Servicer (“McKesson”; McKesson,
together with the Seller, the “Seller Parties” and each a “Seller Party”), the
entities from time to time party hereto as Conduit Purchasers (together with their respective
successors and assigns hereunder, the “Conduit Purchasers”), the entities from time to time
party hereto as Committed Purchasers (together with their respective successors and assigns
hereunder, the “Committed Purchasers”), the entities from time to time party hereto as
Managing Agents (together with their respective successors and assigns hereunder, the “Managing
Agents”), and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office
Chicago) “JPMorgan Chase”), as collateral agent for the Purchasers hereunder or any
successor collateral agent hereunder (together with its successors and assigns hereunder, the
“Collateral Agent”). Unless defined elsewhere herein, capitalized terms used in this
Agreement shall have the meanings assigned to such terms in Exhibit I.

PRELIMINARY STATEMENTS

     WHEREAS, Seller, McKesson, the Conduit Purchasers, the Committed Purchasers, the Managing
Agents and the Collateral Agent are parties to that certain Second Amended and Restated Receivables
Purchase Agreement dated as of May 20, 2009 (as heretofore amended, restated, supplemented or
otherwise modified from time to time, the “Original RPA”);

     WHEREAS, subject to the terms and conditions set forth herein, the parties hereto have agreed
to amend and restate the Original RPA in its entirety;

     WHEREAS, Seller desires to transfer and assign Purchaser Interests to the Purchasers from time
to time;

     WHEREAS, the Conduit Purchasers may, in their absolute and sole discretion, purchase Purchaser
Interests from Seller from time to time, and in the event that (i) a Conduit Purchaser declines to
make any purchase or (ii) a Purchaser Group does not have a Conduit Purchaser member, the Committed
Purchasers that are part of the applicable Purchaser Group shall purchase Purchaser Interests from
time to time;

     WHEREAS, JPMorgan Chase has been requested and is willing to act as Collateral Agent on behalf
of the Conduit Purchasers, the Committed Purchasers and the Managing Agents in accordance with the
terms hereof;

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

 

 

ARTICLE I

PURCHASE ARRANGEMENTS

     Section 1.1 Purchase Facility.

     (a) Upon the terms and subject to the conditions hereof, Seller may, at its option, sell and
assign Purchaser Interests to the Collateral Agent for the benefit of the Purchasers. In
accordance with the terms and conditions set forth herein, each Conduit Purchaser may, at its
option, instruct the related Managing Agent (which will instruct the Collateral Agent) to purchase
on its behalf through the Collateral Agent, or if (i) such Conduit Purchaser shall decline to
purchase or (ii) a Purchaser Group does not have a Conduit Purchaser member, the Collateral Agent
shall purchase, on behalf of the applicable Committed Purchasers, Purchaser Interests from time to
time in an aggregate amount not to exceed the Purchase Limit, and for each Purchaser Group in an
aggregate amount not to exceed the Purchaser Group Limit for such Purchaser Group, during the
period from the date hereof to but not including the Amortization Date.

     (b) Seller may, upon at least 10 Business Days’ prior written notice to the Collateral Agent
and each Managing Agent, terminate in whole or reduce in part, ratably among the Purchaser Groups,
the unused portion of the Purchase Limit and the Purchaser Group Limits; provided, that
each partial reduction of the Purchase Limit shall be in an amount equal to $5,000,000 or an
integral multiple thereof.

     Section 1.2 Increases.

     (a) Seller shall provide each Managing Agent with at least two (2) Business Days’ prior notice
in a form set forth as Exhibit II hereto of each Incremental Purchase (a “Purchase
Notice”). Each Purchase Notice shall be subject to Section 5.2 hereof and, except as set forth
below, shall be irrevocable and shall specify the requested Purchase Price (which shall not be less
than $15,000,000 in the aggregate for all Purchasers), date of purchase, the type of Discount Rate
(determined in accordance with, and subject to the limitations set forth in, Article III hereof)
and Tranche Period; provided, that the Seller may not send more than one (1) Purchase
Notice in any one-week period.

     (b) Following receipt of a Purchase Notice, (i) for each Purchaser Group which has a Conduit
Purchaser member, the related Managing Agent shall notify such Conduit Purchaser of its receipt of
same and determine whether such Conduit Purchaser agrees to make the purchase, and if the
applicable Conduit Purchaser declines to make such purchase, the Managing Agent shall notify the
Committed Purchasers in such Purchaser Group of its receipt of such Purchase Notice and of the
Conduit Purchaser declining to make such purchase and the Incremental Purchase of the Purchaser
Interest will be made by such Committed Purchasers and (ii) for each Purchaser Group which does not
have a Conduit Purchaser member, the related Managing Agent shall notify the Committed Purchasers
in such Purchaser Group of its receipt of such Purchase Notice and the Incremental Purchase of the
Purchaser Interest will be made by such Committed Purchasers.

     (c) Each Incremental Purchase to be made hereunder shall be made ratably among the Purchaser
Groups in accordance with their respective Purchaser Group Limits.

     (d) On the date of each Incremental Purchase, upon satisfaction of the applicable conditions
precedent set forth in Article V, each applicable Purchaser shall make available to its related
Managing Agent at its address listed beneath its signature on its signature page to this Agreement,
for deposit to such account as the Seller designates from time to time, in immediately available
funds, no later than 12:00 noon (Chicago time), an amount equal to such Purchaser’s Pro Rata Share of the Purchaser
Interests then being purchased.

2

 

     Section 1.3 Decreases. Seller shall provide each Managing Agent with prior written
notice in the form set forth as Exhibit II-A hereto (a “Reduction Notice”) of any reduction
of Aggregate Capital from Collections in conformity with the Required Notice Period. Such Reduction
Notice shall designate (i) the date (the “Proposed Reduction Date”) upon which any such
reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required
Notice Period), and (ii) the amount of Aggregate Capital to be reduced (the “Aggregate
Reduction”) which shall be applied ratably to reduce the Capital of each Purchaser Group and
further applied by each Managing Agent to the Purchaser Interests of the Conduit Purchasers and the
Committed Purchasers in the related Purchaser Group in such proportions as may be agreed by such
Managing Agent and such Purchasers. Only one (1) Reduction Notice shall be outstanding at any time.

     Section 1.4 Payment Requirements. All amounts to be paid or deposited by any Seller
Party pursuant to any provision of this Agreement shall be paid or deposited in accordance with the
terms hereof no later than 12:00 noon (New York City time) on the day when due in immediately
available funds, and if not received before 12:00 noon (New York City time) shall be deemed to be
received on the next succeeding Business Day. If such amounts are payable to a Purchaser they shall
be paid to the related Managing Agent, for the account of such Purchaser, at its address listed
beneath its signature on its signature page to this Agreement until otherwise notified by such
Managing Agent. All computations of Yield (other than Yield calculated using the Base Rate) and per
annum fees hereunder and under the Fee Letter shall be made on the basis of a year of 360 days for
the actual number of days elapsed. All computations of Yield calculated using the Base Rate shall
be made on the basis of a year of 365 or 366 days, as applicable, for the actual number of days
elapsed. If any amount hereunder shall be payable on a day which is not a Business Day, such amount
shall be payable on the next succeeding Business Day.

ARTICLE II

PAYMENTS AND COLLECTIONS

     Section 2.1 Payments. Notwithstanding any limitation on recourse contained in this
Agreement, Seller shall immediately pay to each Managing Agent when due, for the account of the
related Purchaser or Purchasers (i) such fees as set forth in the Fee Letter, (ii) all amounts
payable as Yield, (iii) all amounts payable as Deemed Collections (which, subject to the servicing
procedures set forth in Article VII, shall be applied to reduce Aggregate Capital hereunder in
accordance with Sections 2.2 and 2.3 hereof), (iv) all amounts payable to reduce the Purchaser
Interest, if required, pursuant to Section 2.6, (v) all amounts payable pursuant to Article IX, if
any, (vi) all Broken Funding Costs and (vii) all Default Fees (collectively, the
“Obligations”). The Seller shall pay to the Servicer in accordance with Sections 2.2 and
2.4 hereof all Servicer costs and expenses in connection with servicing, administering and
collecting the Receivables, including, without limitation, the Servicing Fee. If any Person fails
to pay any of the Obligations when due, such Person agrees to pay, on demand, the Default Fee in
respect thereof until paid. Notwithstanding the foregoing, no provision of this Agreement or the
Fee Letter shall require the payment or permit the collection of any amounts hereunder in excess of
the maximum permitted by applicable law. If at any time Seller receives any Collections or is
deemed to receive any Collections, Seller shall immediately pay such Collections or Deemed
Collections to the Servicer and, at all times prior to such payment, such Collections shall be held
in trust by Seller for the exclusive benefit of the Purchasers, the Managing Agents and the
Collateral Agent.

     Section 2.2 Collections Prior to Amortization.

     (a) Prior to the Amortization Date, any Collections and/or Deemed Collections received by the
Servicer shall be held in trust by the Servicer for the payment of any accrued and unpaid Aggregate
Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections are
received by the Servicer prior to the Amortization Date, (i) the Servicer shall set aside and hold
in trust for the

3

 

benefit of (x) the Purchasers: (A) the Termination Percentage of Collections and
Deemed Collections evidenced by the Purchaser Interests of each Terminating Committed Purchaser,
(B) an amount equal to the accrued and unpaid Obligations, (C) an amount equal to the Aggregate
Reduction, if any, to be effected pursuant to Section 1.3 and (y) the Servicer, amounts owing to
the Servicer under Section 2.1 and (ii) Seller hereby requests and the Purchasers (other than any
Terminating Committed Purchasers) hereby agree to make, simultaneously with such receipt, a
reinvestment (each a “Reinvestment”) with that portion of the balance of each and every
Collection received by the Servicer that is part of any Purchaser Interest (other than any
Purchaser Interests of Terminating Committed Purchasers), such that after giving effect to such
Reinvestment, the amount of Capital of such Purchaser Interest immediately after such receipt and
corresponding Reinvestment shall be equal to the amount of Capital immediately prior to such
receipt.

     (b) On each Settlement Date prior to the occurrence of the Amortization Date, the Servicer
shall remit to the Managing Agents’ respective accounts the amounts set aside since the immediately
preceding Settlement Date that have not been applied to pay Yield or subject to a Reinvestment and
apply such amounts (if not previously paid in accordance with Section 2.1) first, to reduce due but
unpaid Obligations in the order specified in Section 2.4 and second, to reduce the Capital of all
Purchaser Interests of Terminating Committed Purchasers, applied ratably to each Terminating
Committed Purchaser according to the respective Capital of such Terminating Committed Purchasers.
If such Capital and other Obligations shall be reduced to zero, any additional Collections received
by the Servicer (i) if applicable, shall be remitted to the Managing Agents’ respective accounts no
later than 12:00 noon (Chicago time) to the extent required to fund any Aggregate Reduction on such
Settlement Date, applied ratably in accordance with the Pro Rata Share of each such Managing
Agent’s Purchaser Group and (ii) any balance remaining thereafter shall be remitted from the
Servicer to Seller on such Settlement Date. In the event that, pursuant to Section 1.3, an
Aggregate Reduction is to take place on a date other than a Settlement Date, on the date of such
Aggregate Reduction, the Servicer shall remit to the Managing Agents’ respective accounts (ratably
in accordance with the Pro Rata Share of the related Purchaser Group), out of amounts set aside
pursuant to Section 2.2(a), an amount equal to such Aggregate Reduction to be applied in accordance
with Section 1.3.

     Section 2.3 Collections Following Amortization. On the Amortization Date and on each
day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser
Interest, all Collections and Deemed Collections received on such day. On the Amortization Date and
each date thereafter, (i) the Servicer shall remit to the Managing Agents’ respective accounts, in
accordance with the applicable Pro Rata Shares, the amounts set aside pursuant to the preceding
sentence, and (ii) each Managing Agent shall apply such amounts to reduce the Aggregate Capital and
any other Aggregate Unpaids due and payable to the related Purchaser Group.

     Section 2.4 Application of Collections. If there shall be insufficient funds on
deposit for the Servicer to distribute funds in payment in full of the aforementioned amounts
pursuant to Section 2.2 or 2.3 (as applicable), the Servicer shall distribute funds:

          (i) first, to the payment of the Servicer’s reasonable out of pocket costs and expenses in
connection with servicing, administering and collecting the Receivables, including the
Servicing Fee, if Seller or one of its Affiliates is then acting as Servicer and no Servicer
Default has occurred and is continuing, or if Seller or one of its Affiliates is not then acting as
the Servicer;

          (ii) second, to the reimbursement of the Collateral Agent’s and each Managing Agent’s costs of
collection and enforcement of this Agreement;

4

 

          (iii) third, ratably to the payment of all accrued and unpaid fees under the Fee Letter and
all accrued and unpaid Yield;

          (iv) fourth, (to the extent applicable) to the ratable reduction of the Aggregate Capital
(without regard to any Termination Percentage);

          (v) fifth, for the ratable payment of all other unpaid Obligations and Servicer costs and
expenses, including the Servicing Fee; provided that when the Seller or one of its Affiliates is
acting as the Servicer, such Servicer costs and expenses, including the Servicing Fee, will not be
paid until after the payment in full of all other Obligations; and

          (vi) sixth, after the Aggregate Unpaids have been indefeasibly reduced to zero, to the Seller.

     Collections applied to the payment of Aggregate Unpaids shall be distributed in accordance
with the aforementioned provisions, and, giving effect to each of the priorities set forth in
Section 2.4 above, shall be shared ratably (within each priority) among the Collateral Agent, the
Managing Agents and the Purchasers in accordance with the amount of such Aggregate Unpaids owing to
each of them in respect of each such priority.

     Section 2.5 Payment Rescission. No payment of any of the Aggregate Unpaids shall be
considered paid or applied hereunder to the extent that, at any time, all or any portion of such
payment or application is rescinded by application of law or judicial authority, or must otherwise
be returned or refunded for any reason. Seller shall remain obligated for the amount of any payment
or application so rescinded, returned or refunded, and shall promptly pay to the Collateral Agent
(for application to the Person or Persons who suffered such rescission, return or refund) the full
amount thereof, plus the Default Fee from the date of any such rescission, return or
refunding.

     Section 2.6 Seller Interest. Seller shall ensure that the Purchaser Interests of the
Purchasers shall at no time exceed in the aggregate 100%. If the aggregate of the Purchaser
Interests of the Purchasers exceeds 100%, Seller shall pay to the Managing Agents, within one
Business Day, an amount to be applied to reduce the Aggregate Capital, such that after giving
effect to such payment the aggregate of the Purchaser Interests equals or is less than 100%.

     Section 2.7 Clean Up Call. In addition to Seller’s rights pursuant to Section 1.3,
Seller shall have the right (after providing written notice to the Managing Agents in accordance
with the Required Notice Period), at any time following the reduction of the Capital to a level
that is less than 10.0% of the original Purchase Limit, to repurchase from the Purchasers all, but
not less than all, of the then outstanding Purchaser Interests. The purchase price in respect
thereof shall be an amount equal to the Aggregate Unpaids through the date of such repurchase,
payable in immediately available funds. Such repurchase shall be without representation, warranty
or recourse of any kind by, on the part of, or against any Purchaser, any Managing Agent or the
Collateral Agent.

ARTICLE III

FUNDING

     Section 3.1 General Funding Provisions. Subject to Section 3.5 hereof, (a) each
Purchaser Interest of the Committed Purchasers in a CP Funding Purchaser Group shall accrue Yield
for each day during its Tranche Period at either the LIBO Rate or the Base Rate, (b) each Purchaser
Interest of the Committed Purchasers in a Bank Funding Purchaser Group shall accrue Yield for each
day during its Tranche Period at the LIBO Rate and (c) each Purchaser Interest directly or
indirectly funded

5

 

substantially with Pooled Commercial Paper shall accrue Yield for each day that
any Capital in respect of such Purchaser Interest is outstanding at the CP Rate, in each case, in
accordance with the terms and conditions hereof. Until Seller gives notice to the Managing Agents
of another Discount Rate in accordance with Section 3.4, the initial Discount Rate for any
Purchaser Interest transferred to the Committed Purchasers in a CP Funding Purchaser Group pursuant
to the terms and conditions hereof shall be the Base Rate. If any Committed Purchaser in a CP
Funding Purchaser Group acquires by assignment from any Conduit Purchaser any Purchaser Interest
pursuant to such Conduit Purchaser’s respective Liquidity Agreement, each Purchaser Interest so
assigned shall each be deemed to have a new Tranche Period commencing on the date of any such
assignment.

     Section 3.2 Yield Payments. On each Monthly Settlement Date, Seller shall pay to each
Managing Agent (for the benefit of the applicable Purchasers), an aggregate amount equal to (i) the
accrued and unpaid Yield with respect to each Purchaser Interest for the immediately preceding
Accrual Period, if Yield for such Purchaser Interest is calculated on the basis of the CP Rate, and
(ii) the accrued and unpaid Yield with respect to each Purchaser Interest for the most recently
ended Tranche Period for such Purchaser Interest, if Yield for such Purchaser Interest is
calculated on the basis of any Discount Rate other than the CP Rate, in each case, in accordance
with Article II.

     Section 3.3 Selection and Continuation of Tranche Periods for Committed Purchasers in CP
Funding Purchaser Groups.

     (a) With consultation from (and approval by) each related Managing Agent, Seller shall from
time to time request Tranche Periods for the Purchaser Interests of the Committed Purchasers in CP
Funding Purchaser Groups; provided, however, that no more than fifteen (15) Tranche
Periods shall be outstanding at any one time and Seller shall always request Tranche Periods such
that at least one Tranche Period shall end on the date specified in clause (A) of the definition of
Settlement Date.

     (b) Seller or a Managing Agent, upon notice to and consent by the other received at least
three (3) Business Days prior to the end of a Tranche Period (the “Terminating Tranche”)
for any Purchaser Interest, may, effective on the last day of the Terminating Tranche of a
Committed Purchaser in a CP Funding Purchaser Group: (i) divide any such Purchaser Interest into
multiple Purchaser Interests, (ii) combine any such Purchaser Interest with one or more other
Purchaser Interests which have a Terminating Tranche ending on the same day as such Terminating
Tranche or (iii) combine any such Purchaser Interest with one or more other Purchaser Interests
which either have a Terminating Tranche ending on such day or are newly created on such day,
provided, in no event may a Purchaser Interest of a Conduit Purchaser be combined with a
Purchaser Interest of a Committed Purchaser.

     Section 3.4 Discount Rates of Committed Purchasers in CP Funding Purchaser Groups.
Seller may select the LIBO Rate or the Base Rate for each Purchaser Interest of the Committed
Purchasers in CP Funding Purchaser Groups. Seller shall by 12:00 noon (Chicago time): (i) at least
three (3) Business Days prior to the expiration of any Terminating Tranche with respect to which
the LIBO Rate is being requested as a new Discount Rate and (ii) at least one (1) Business Day
prior to the expiration of any Terminating Tranche with respect to which the Base Rate is being requested
as a new Discount Rate, give each related Managing Agent irrevocable notice of the new Discount
Rate for the Purchaser Interest associated with such Terminating Tranche.

     Section 3.5 Suspension of the LIBO Rate.

     (a) If any Committed Purchaser notifies its related Managing Agent that it has determined that
funding its Pro Rata Share of the Purchaser Interests at a LIBO Rate would violate any applicable
law, rule, regulation, or directive of any governmental or regulatory authority, whether or not
having the

6

 

force of law, or that (i) deposits of a type and maturity appropriate to match fund its
Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately
reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then such
Managing Agent shall notify the Collateral Agent and shall suspend the availability of such LIBO
Rate and require Seller to select the Base Rate for any Purchaser Interest accruing Yield at such
LIBO Rate.

     (b) If less than all of the Committed Purchasers give a notice to the Managing Agents pursuant
to Section 3.5(a), each Committed Purchaser which gave such a notice shall be obligated, at the
request of Seller or such Committed Purchaser’s Managing Agent (on behalf of the related Conduit
Purchaser or Conduit Purchasers), to assign all of its rights and obligations hereunder to (i)
another Committed Purchaser that is acceptable to such related Conduit Purchaser or Conduit
Purchasers or (ii) another funding entity nominated by Seller that is acceptable to such Conduit
Purchaser or Conduit Purchasers and willing to participate in this Agreement through the Facility
Termination Date in the place of such notifying Committed Purchaser; provided that (i) the
notifying Committed Purchaser receives payment in full, pursuant to an Assignment Agreement, of an
amount equal to such notifying Committed Purchaser’s Pro Rata Share of the Capital and Yield owing
to all of the Committed Purchasers and all accrued but unpaid fees and other costs and expenses
payable in respect of its Pro Rata Share of the Purchaser Interests of the Committed Purchasers,
and (ii) the replacement Committed Purchaser otherwise satisfies the requirements of Section
11.1(b).

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

     Section 4.1 Representations and Warranties of Seller Parties. Each Seller Party hereby
represents and warrants to the Collateral Agent, the Managing Agents and the Purchasers, as to
itself, that:

     (a) Corporate Existence and Power. Such Seller Party is a corporation duly organized,
validly existing and in good standing under the laws of its state of incorporation, and is duly
qualified to do business and is in good standing as a foreign corporation, and has and holds all
corporate power and all governmental licenses, authorizations, consents and approvals required to
carry on its business in each jurisdiction in which its business is conducted except where the
failure to so qualify or so hold could not reasonably be expected to have a Material Adverse
Effect.

     (b) Power and Authority; Due Authorization Execution and Delivery. The execution and
delivery by such Seller Party of this Agreement and each other Transaction Document to which it is
a party, and the performance of its obligations hereunder and thereunder and, in the case of
Seller, Seller’s use of the proceeds of purchases made hereunder, are within its corporate powers
and authority and have been duly authorized by all necessary corporate action on its part. This
Agreement and each other Transaction Document to which such Seller Party is a party has been duly
executed and delivered by such Seller Party.

     (c) No Conflict. The execution and delivery by such Seller Party of this Agreement and
each other Transaction Document to which it is a party, and the performance of its obligations
hereunder and thereunder do not contravene or violate (i) its certificate or articles of
incorporation or by-laws, (ii) any law, rule or regulation applicable to it, (iii) any restrictions
under any agreement, contract or instrument to which it is a party or by which it or any of its
property is bound, or (iv) any order, writ, judgment, award, injunction or decree binding on or
affecting it or its property, and do not result in the creation or imposition of any Adverse Claim
on assets of such Seller Party or its Material Subsidiaries (except as created hereunder) except,
in any case, where such contravention or violation could not reasonably be

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expected to have a Material Adverse Effect; and no transaction contemplated hereby requires compliance with any bulk
sales act or similar law.

     (d) Governmental Authorization. Other than the filing of the financing statements
required hereunder, no authorization or approval or other action by, and no notice to or filing
with, any governmental authority or regulatory body is required for the due execution and delivery
by such Seller Party of this Agreement and each other Transaction Document to which it is a party
and the performance of its obligations hereunder and thereunder.

     (e) Actions, Suits. There are no actions, suits or proceedings pending, or to the best
of such Seller Party’s knowledge, threatened, against or affecting such Seller Party, or any of its
properties, in or before any court, arbitrator or other body, that could reasonably be expected to
have a Material Adverse Effect. Such Seller Party is not in default with respect to any order of
any court, arbitrator or governmental body.

     (f) Binding Effect. This Agreement and each other Transaction Document to which such
Seller Party is a party constitute the legal, valid and binding obligations of such Seller Party
enforceable against such Seller Party in accordance with their respective terms, except as such
enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar
laws relating to or limiting creditors’ rights generally and by general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at law).

     (g) Accuracy of Information. All information heretofore furnished by such Seller Party
or any of its Affiliates to the Collateral Agent, the Managing Agents or the Purchasers for
purposes of or in connection with this Agreement, any Monthly Report, any of the other Transaction
Documents or any transaction contemplated hereby or thereby is, and all such information hereafter
furnished by such Seller Party or any of its Affiliates to the Collateral Agent, the Managing
Agents or the Purchasers will be, true and accurate in every material respect on the date such
information is stated or certified (or, if such information specifies another date, such other
date) and does not and will not contain any material misstatement of fact or omit to state a
material fact or any fact necessary to make the statements contained therein not misleading.

     (h) Use of Proceeds. No proceeds of any purchase hereunder will be used (i) for a
purpose that violates, or would be inconsistent with, Regulation T, U or X promulgated by the Board
of Governors of the Federal Reserve System from time to time or (ii) to acquire any “margin stock,”
as such term is defined in Regulation U promulgated by the Board of Governors of the Federal
Reserve System from time to time.

     (i) Good Title. Immediately prior to each purchase hereunder, Seller shall be the
legal and beneficial owner of the Receivables and Related Security with respect thereto, free and
clear of any Adverse Claim, except as created by the Transaction Documents. There have been duly
filed all financing statements or other similar instruments or documents necessary under the UCC
(or any comparable law)
of all appropriate jurisdictions to perfect Seller’s ownership interest in each Receivable,
its Collections and the Related Security.

     (j) Perfection.

     (i) This Agreement creates a valid and continuing security interest (as defined in the
applicable UCC) in the Receivables and Related Security and Collections with respect thereto
in favor of the Collateral Agent (for the benefit of the Purchasers), which security
interest is prior to

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all other Adverse Claims, and is enforceable as such as against
creditors of and purchasers from Seller.

     (ii) The Receivables constitute “accounts” within the meaning of the applicable UCC.

     (iii) Seller owns and has good and marketable title to the Receivables, Related
Security and Collections, free and clear of any Adverse Claim, claim or encumbrance of any
Person.

     (iv) Seller has caused or will have caused, within ten days, the filing of all
appropriate financing statements in the proper filing office in the appropriate
jurisdictions under applicable law in order to perfect the security interest in the
Receivables, Related Security and Collections granted to the Collateral Agent (on behalf of
the Purchasers) hereunder.

     (v) Other than the security interest granted to the Collateral Agent (for the benefit
of the Purchasers) pursuant to this Agreement, Seller has not pledged, assigned, sold,
granted a security interest in, or otherwise conveyed any of the Receivables, Related
Security or Collections. Seller has not authorized the filing of and is not aware of any
financing statements against Seller that include a description of collateral covering the
Receivables, Related Security or Collections other than any financing statement relating to
the security interest granted to the Collateral Agent (for the benefit of the Purchasers)
hereunder or that has been terminated. Seller is not aware of any judgment or tax lien
filings against Seller.

     (k) Places of Business. The principal places of business and chief executive office of
such Seller Party and the offices where it keeps all of its Records are located at the addresses
listed on Exhibit III or such other locations of which the Collateral Agent has been notified in
accordance with Section 6.2(a) in jurisdictions where all action required by Section 12.4(a) has
been taken and completed. Each Seller Party’s Federal Employer Identification Number is correctly
set forth on Exhibit III. Each Seller Party is organized solely under the laws of the State of
Delaware.

     (l) Collections. The conditions and requirements set forth in Section 6.1(j) and
Section 7.2 have at all times been satisfied and duly performed. The names and addresses of all
Collection Banks, together with the account numbers of the Collection Accounts of Seller at each
Collection Bank and the post office box number of each Lock-Box, are listed on Exhibit IV (as such
Exhibit IV may be amended or supplemented from time to time by either Seller Party by delivery of a
new Exhibit IV to the Collateral Agent and the Managing Agents).

     (m) Material Adverse Effect. (i) The initial Servicer represents and warrants that,
since March 31, 2010, no event has occurred with respect to the initial Servicer that would have a
material adverse effect on its financial condition or operations or its ability to perform its
obligations under this Agreement and (ii) Seller represents and warrants that since March 31, 2010,
no event has occurred that would have a
material adverse effect on (A) the financial condition or operations of Seller, (B) the
ability of Seller to perform its obligations under this Agreement or (C) the collectibility of the
Receivables generally or any material portion of the Receivables; provided, that with
respect to each of clause (i) and clause (ii), the insolvency of, or any other
event with respect to, any Obligor or Obligors which results in the Eligible Receivables from such
Obligor or Obligors ceasing to be Eligible Receivables shall not be deemed to have a Material
Adverse Effect so long as (x) immediately after giving effect to such insolvency or event, as
applicable, the Net Receivables Balance less the Aggregate Reserves equals or exceeds the Aggregate
Capital, and (y) such insolvency or event, as applicable, does not materially adversely affect the
ability of the initial Servicer to perform its obligations and duties under this Agreement.

9

 

     (n) Names. In the past five (5) years, Seller has not used any corporate names, trade
names or assumed names other than the name in which it has executed this Agreement.

     (o) Ownership of Seller. CGSF owns, directly or indirectly, 100% of the issued and
outstanding capital stock of Seller, free and clear of any Adverse Claim. Such capital stock is
validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to
acquire securities of Seller.

     (p) Not an Investment Company. Such Seller Party is not an “investment company” within
the meaning of the Investment Company Act of 1940, as amended, or any successor statute.

     (q) Compliance with Law. Such Seller Party has complied in all respects with all
applicable laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to
which it may be subject, except where the failure to so comply could not reasonably be expected to
have a Material Adverse Effect. Each Receivable, together with the Contract related thereto, does
not contravene any laws, rules or regulations applicable thereto (including, without limitation,
laws, rules and regulations relating to truth in lending, fair credit billing, fair credit
reporting, equal credit opportunity, fair debt collection practices and privacy), and no part of
such Contract is in violation of any such law, rule or regulation, except where such contravention
or violation could not reasonably be expected to have a Material Adverse Effect.

     (r) Compliance with Credit and Collection Policy. Such Seller Party has complied in
all material respects with the Credit and Collection Policy with regard to each Receivable and the
related Contract, and has not made any material change to such Credit and Collection Policy, except
such material change as to which the Collateral Agent has been notified in accordance with Section
6.1(a)(vii).

     (s) Payments to CGSF and Originator. With respect to each Receivable transferred to
CGSF under the Tier One Receivables Sale Agreement, CGSF has given reasonably equivalent value to
the Originator in consideration therefor and with respect to each Receivable transferred to Seller
under the Tier Two Receivables Sale Agreement, Seller has given reasonably equivalent value to CGSF
in consideration therefor, and no such transfer has been made for or on account of an antecedent
debt.

     (t) Enforceability of Contracts. Each Contract with respect to each Receivable is
effective to create, and has created, a legal, valid and binding obligation of the related Obligor
to pay the Outstanding Balance of the Receivable created thereunder and any accrued interest
thereon, enforceable against the Obligor in accordance with its terms, except as such enforcement
may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating
to or limiting creditors’ rights generally and by general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law).

     (u) Eligible Receivables. Each Receivable included in the Net Receivables Balance as
an Eligible Receivable on the date of its purchase under each Receivables Sale Agreement was an
Eligible Receivable on such purchase date.

     (v) Net Receivables Balance. Each Seller Party has determined that, immediately after
giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum
of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

     (w) Compliance with Representations. On and as of the date of each purchase of a
Purchaser Interest hereunder and the date of each Reinvestment hereunder, each Seller Party hereby
represents and warrants that all of the other representations and warranties made by it set forth
in this Section 4.1 are

10

 

true and correct on and as of the date of such purchase or Reinvestment
(and after giving effect to such purchase or Reinvestment) as though made on and as of each such
date (except where such representation or warranty relates to an earlier date, in which case as of
such earlier date).

     Section 4.2 Committed Purchaser Representations and Warranties. Each Committed
Purchaser hereby represents and warrants to the Collateral Agent, the Managing Agents and the
Conduit Purchasers that:

     (a) Existence and Power. Such Committed Purchaser is a corporation, limited liability
company or a banking association duly organized, validly existing and in good standing under the
laws of its jurisdiction of incorporation or organization, and has all company power to perform its
obligations hereunder.

     (b) No Conflict. The execution and delivery by such Committed Purchaser of this
Agreement and the performance of its obligations hereunder are within its company powers, have been
duly authorized by all necessary company action, do not contravene or violate (i) its certificate
or articles of incorporation, formation or association or by-laws or limited liability company
agreement, (ii) any law, rule or regulation applicable to it, (iii) any restrictions under any
agreement, contract or instrument to which it is a party or any of its property is bound, or (iv)
any order, writ, judgment, award, injunction or decree binding on or affecting it or its property,
and do not result in the creation or imposition of any Adverse Claim on its assets. This Agreement
has been duly authorized, executed and delivered by such Committed Purchaser.

     (c) Governmental Authorization. No authorization or approval or other action by, and
no notice to or filing with, any governmental authority or regulatory body is required for the due
execution and delivery by such Committed Purchaser of this Agreement and the performance of its
obligations hereunder.

     (d) Binding Effect. This Agreement constitutes the legal, valid and binding obligation
of such Committed Purchaser enforceable against such Committed Purchaser in accordance with its
terms, except as such enforcement may be limited by applicable bankruptcy, insolvency,
reorganization or other similar laws relating to or limiting creditors’ rights generally and by
general principles of equity (regardless of whether such enforcement is sought in a proceeding in
equity or at law).

ARTICLE V

CONDITIONS OF PURCHASES

     Section 5.1 Conditions Precedent to the Effectiveness of this Agreement. This
Agreement shall become effective as of the date hereof upon satisfaction of each of the following
conditions precedent on or prior to the Effective Date:

     (a) The Collateral Agent shall have received fully executed copies of each of the documents
and other items listed on Schedule C hereto in form and substance acceptable to the
Collateral Agent and each Managing Agent;

     (b) Each of the representations and warranties set forth in Section 4.1 shall be true and
correct on and as of the Effective Date as though made on and as of such date (except where such
representation or warranty relates to an earlier date, in which case as of such earlier date);

     (c) Each of the representations and warranties set forth in the Tier-One Receivables Sale
Agreement and Tier-Two Receivables Sale Agreement shall be true and correct on and as of the
Effective

11

 

Date as though made on and as of such date (except where such representation or warranty
relates to an earlier date, in which case as of such earlier date);

     (d) No Amortization Event or Potential Amortization Event shall have occurred and be
continuing and the Amortization Date shall not have occurred;

     (e) The Collateral Agent and each Managing Agent shall have received all fees and expenses
required to be paid on the Effective Date pursuant to the terms of this Agreement and the Fee
Letter; and

     (f) Each of the Collateral Agent and each Managing Agent and each Purchaser shall have
received such other approvals and documents as it has reasonably requested from the Seller or
McKesson.

     Section 5.2 Conditions Precedent to All Purchases and Reinvestment. Each purchase of a
Purchaser Interest and each Reinvestment shall be subject to the conditions precedent that (a) in
the case of each such purchase or Reinvestment, the Servicer shall have delivered to the Managing
Agents on or prior to the date of such purchase, in form and substance satisfactory to the Managing
Agents, all Monthly Reports, Weekly Reports and/or Daily Reports as and when due under Section 7.5
and (ii) upon the Collateral Agent’s or any Managing Agent’s request, the Servicer shall have
delivered to the Managing Agents at least three (3) days prior to such purchase or Reinvestment an
interim Monthly Report showing the amount of Eligible Receivables or such other form of report in
form and substance reasonably satisfactory to the Managing Agents showing adequate information
relating to the amount of Eligible Receivables; (b) the Facility Termination Date shall not have
occurred; (c) no Amortization Event or, with respect to any Incremental Purchase, no Potential
Amortization Event shall have occurred; (d) the Originator and CGSF shall have marked their
respective records evidencing the Receivables in a manner satisfactory to the Collateral Agent, and
(e) the Collateral Agent shall have received such other approvals, opinions or documents as it may
reasonably request. With respect to each Incremental Purchase and Reinvestment, as a condition to
such Incremental Purchase or Reinvestment, on the date of such purchase the Seller represents and
warrants that the representations and warranties set forth in Section 4.1 are true and correct on
and as of the date of such Incremental Purchase or Reinvestment (and after giving effect thereto)
as though made on and as of such date (except where such representation or warranty relates to an
earlier date, in which case as of such earlier date).

ARTICLE VI

COVENANTS

     Section 6.1 Affirmative Covenants of the Seller Parties. Until the date on which the
Aggregate Unpaids have been indefeasibly paid in full and this Agreement terminates in accordance
with its terms, each Seller Party hereby covenants, as to itself, as set forth below:

     (a) Financial Reporting. Such Seller Party will maintain, for itself and each of its
Material Subsidiaries, a system of accounting established and administered in accordance with
generally accepted accounting principles, and furnish to the Collateral Agent and the Managing
Agents:

          (i) Annual Reporting. Within ninety (90) days after the close of each of its
respective fiscal years, audited, unqualified financial statements (which shall include balance
sheets, statements of income and retained earnings and a statement of cash flows) for the Seller
Parties on a consolidated basis for such fiscal year certified in a manner acceptable to the
Collateral Agent and the Managing Agents by independent public accountants acceptable to the
Collateral Agent and the Managing Agents together with unaudited consolidating financial statements
for the Seller and CGSF; provided, that the Seller shall only to be required to deliver
financial statements for the Seller and CGSF to the extent such statements are prepared.

12

 

          (ii) Quarterly Reporting. Within sixty (60) days after the close of the first three
(3) quarterly periods of each of its respective fiscal years, balance sheets of each of the
Originator and the Servicer (if different from the Originator), and, to the extent such financial
statements are prepared, for CGSF and the Seller, in each such case as at the close of each such
period, together with statements of income and retained earnings and, with respect to the
Originator only, a statement of cash flows for each such Person for the period from the beginning
of such fiscal year to the end of such quarter, in each case, certified by an Authorized Officer.

          (iii) Compliance Certificate. Together with the financial statements required
hereunder, a compliance certificate in substantially the form of Exhibit V signed by such Seller
Party’s Authorized Officer and dated the date of such annual financial statement or such quarterly
financial statement, as the case may be.

          (iv) Shareholders Statements and Reports. Promptly upon the furnishing thereof to the
shareholders of such Seller Party copies of all financial statements, reports and proxy statements
so furnished.

          (v) Securities Exchange Commission Filings. Promptly upon the filing thereof, copies
of all registration statements and annual, quarterly, monthly or other regular reports which such
Seller Party or any of its Subsidiaries files with the Securities and Exchange Commission.

          (vi) Copies of Notices. Promptly upon its receipt of any notice, request for consent,
financial statements, certification, report or other communication under or in connection with any
Transaction Document from any Person other than the Collateral Agent, any Managing Agent or any
Conduit, copies of the same.

          (vii) Change in Credit and Collection Policy. At least thirty (30) days prior to the
effectiveness of any material change in or amendment to the Credit and Collection Policy, a copy of
the Credit and Collection Policy then in effect and a notice indicating such change or amendment.

          (viii) Other Information. Promptly, from time to time, such other information,
documents, records or reports relating to the Receivables or the condition or operations, financial
or otherwise, of such Seller Party as the Collateral Agent or any Managing Agent may from time to
time reasonably request in order to protect the interests of the Collateral Agent, the Managing
Agents, and the Purchasers under or as contemplated by this Agreement. Any report, statement or
other material required to be delivered pursuant to this clause (a) shall be deemed to have been
furnished to the Collateral Agent and the Managing Agents on the date that such report, statement
or other material is posted on the EDGAR system of the Securities and Exchange Commission or the
website of the Originator at www.mckesson.com.

     (b) Notices. Such Seller Party will notify the Collateral Agent and each Managing
Agent in writing of any of the following promptly upon learning of the occurrence thereof,
describing the same and, if applicable, the steps being taken with respect thereto:

          (i) Amortization Events or Potential Amortization Events. The occurrence of each
Amortization Event and each Potential Amortization Event, by a statement of an Authorized Officer
of such Seller Party.

          (ii) Judgment and Proceedings. (A) The entry of any judgment or decree against (1) the
Servicer or any of its respective Material Subsidiaries if the amount of any such judgment or
decree against the Servicer or one of its Material Subsidiaries exceeds $25,000,000 after deducting
(a) the

13

 

amount with respect to which the Servicer or any such Material Subsidiary is insured and
with respect to which the insurer has assumed responsibility in writing, and (b) the amount for
which the Servicer or any such Material Subsidiary is otherwise indemnified if the terms of such
indemnification are satisfactory to the Collateral Agent and the Managing Agents, or (2) Seller; or
(B) The institution of any litigation, arbitration proceeding or governmental proceeding against
CGSF and the Seller.

          (iii) Material Adverse Effect. The occurrence of any event or condition that has, or
could reasonably be expected to have, a Material Adverse Effect.

          (iv) Receivables Sale Agreement Amortization Date. The occurrence of the “Amortization
Date” under either Receivables Sale Agreement.

          (v) Defaults Under Other Agreements. The occurrence of an event of default, or event
that, with the giving of notice or passage of time or both, would result in an event of default,
under any other financing arrangement pursuant to which such Seller Party is a debtor or an obligor
that is reasonably likely to result in a Material Adverse Effect.

          (vi) Downgrade of the Originator. Any downgrade in the rating of any Indebtedness of
the Originator by S&P, Fitch or Moody’s, setting forth the Indebtedness affected and the nature of
such change.

     (c) Compliance with Laws and Preservation of Corporate Existence. Such Seller Party
will comply in all respects with all applicable laws, rules, regulations, orders, writs, judgments,
injunctions, decrees or awards to which it may be subject, except where the failure to so comply
could not reasonably be expected to have a Material Adverse Effect. Such Seller Party will preserve
and maintain its corporate existence, rights, franchises and privileges in the jurisdiction of its
incorporation, and qualify and remain qualified in good standing as a foreign corporation in each
jurisdiction where its business is conducted, except where the failure to so preserve and maintain
or qualify could not reasonably be expected to have a Material Adverse Effect.

     (d) Audits. Such Seller Party will furnish to the Collateral Agent and each Managing
Agent from time to time such information with respect to it and the Receivables as the Collateral
Agent or such Managing Agent may reasonably request. Such Seller Party will, from time to time
during regular business hours as requested by the Collateral Agent or such Managing Agent upon
reasonable notice and at the sole cost of such Seller Party, permit the Collateral Agent or such
Managing Agent, or its agents or representatives, (i) to examine and make copies of and abstracts
from all Records in the possession or under the control of such Person relating to the Receivables
and the Related Security, including, without limitation, the related Contracts, and (ii) to visit
the offices and properties of such Person for the purpose of examining such materials described in
clause (i) above, and to discuss matters relating to such Person’s financial condition or
the Receivables and the Related Security or any Person’s performance under any of the Transaction
Documents or any Person’s performance under the Contracts (subject to confidentiality restrictions
in the relevant Contracts) and, in each case, with any of the officers or employees of Seller or
the Servicer having knowledge of such matters; provided, however, that prior to the
Amortization Date, so long as no Amortization Event has occurred and is continuing, the Collateral
Agent, the Managing Agents and their respective agents or representatives shall not, on a
collective basis, conduct the activities described in clauses (i) and (ii) above
more frequently than one time per year.

     (e) Keeping and Marking of Records and Books.

          (i) The Servicer will maintain and implement administrative and operating procedures
(including, without limitation, an ability to recreate records evidencing Receivables in the

14

 

event of the destruction of the originals thereof), and keep and maintain all documents, books, records
and other information reasonably necessary or advisable for the collection of all Receivables
(including, without limitation, records adequate to permit the identification of each new
Receivable and all Collections of and adjustments to each existing Receivable).

          (ii) Such Seller Party will on or prior to the date hereof, mark its records and other books
and records relating to the Purchaser Interests with a legend, acceptable to the Collateral Agent,
describing the Purchaser Interests.

     (f) Compliance with Contracts and Credit and Collection Policy. Such Seller Party will
timely and fully (i) perform and comply with all provisions, covenants and other promises required
to be observed by it under the Contracts related to the Receivables, and (ii) comply in all
respects with the Credit and Collection Policy in regard to each Receivable and the related
Contract, except, in each case, where the failure to so comply would not result in a Material
Adverse Effect. Seller will pay when due any taxes payable in connection with the Receivables,
exclusive of taxes on or measured by income or gross receipts of the Purchasers, the Collateral
Agent, or the Managing Agents.

     (g) Performance and Enforcement of Receivables Sale Agreements. Seller shall, and
shall require the Originator and CGSF to, perform each of their respective obligations and
undertakings under and pursuant to each Receivables Sale Agreement, as applicable, shall purchase
Receivables thereunder in strict compliance with the terms thereof and shall take all action
necessary or reasonably appropriate to enforce the rights and remedies accorded to Seller under the
Receivables Sale Agreements. Seller shall take all actions reasonably necessary to perfect and
enforce its rights and interests (and the rights and interests of the Collateral Agent and the
Purchasers as assignees of Seller) under the Tier Two Receivables Sale Agreement (including its
rights and interests under the Tier One Receivables Sale Agreement, as assignee of CGSF) as the
Collateral Agent may from time to time reasonably request, including, without limitation, making
claims to which it may be entitled under any indemnity, reimbursement or similar provision
contained in the Tier Two Receivables Sale Agreement.

     (h) Ownership. Seller shall take all necessary action to (i) vest legal and equitable
title to the Receivables, the Related Security and the Collections purchased under the Tier Two
Receivables Sale Agreement irrevocably in Seller, free and clear of any Adverse Claims other than
Adverse Claims in favor of the Collateral Agent and the Purchasers (including, without
limitation, the filing of all financing statements or other similar instruments or documents
necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect
Seller’s interest in such Receivables, Related Security (to the extent covered by Article 9 of the
UCC) and Collections and such other action to perfect, protect or more fully evidence the interest
of Seller therein as the Collateral Agent may reasonably request), and (ii) establish and maintain,
in favor of the Collateral Agent, for the benefit of the Purchasers, a valid and perfected first
priority undivided percentage ownership interest (and/or a valid and perfected first priority
security interest) in all Receivables, Related Security (to the extent covered by Article 9 of the
UCC) and Collections to the full extent contemplated herein, free and clear of any Adverse Claims
other than Adverse Claims in favor of the Collateral Agent for the benefit of the Purchasers
(including, without limitation, the filing of all financing statements or other similar instruments
or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to
perfect the Collateral Agent’s (for the benefit of the Purchasers) interest in such Receivables,
Related Security (to the extent covered by Article 9 of the UCC) and Collections and such other
action to perfect, protect or more fully evidence the interest of the Collateral Agent for the
benefit of the Purchasers as the Collateral Agent may reasonably request).

     (i) Purchasers’ Reliance. Seller acknowledges that the Purchasers are entering into
the transactions contemplated by this Agreement in reliance upon Seller’s identity as a legal
entity that is separate from the Originator and CGSF. Therefore, from and after the date of
execution and delivery of

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this Agreement, Seller shall take all reasonable steps, including,
without limitation, all steps that the Collateral Agent, any Managing Agent or any Purchaser may
from time to time reasonably request, to maintain Seller’s identity as a separate legal entity and
to make it manifest to third parties that Seller is an entity with assets and liabilities distinct
from those of the Originator, CGSF and any Affiliates thereof and not just a division of the
Originator or CGSF. Without limiting the generality of the foregoing and in addition to the other
covenants set forth herein, Seller shall:

     (A) conduct its own business in its own name and require that all full-time
employees of Seller, if any, identify themselves as such and not as employees of the
Originator or CGSF;

     (B) if applicable, compensate all employees, consultants and agents directly,
from Seller’s bank accounts, for services provided to Seller by such employees,
consultants and agents and, to the extent any employee, consultant or agent of
Seller is also an employee, consultant or agent of the Originator or CGSF, allocate
the compensation of such employee, consultant or agent between Seller and the
Originator or CGSF, as applicable, on a basis that reflects the services rendered to
Seller and the Originator or CGSF, as applicable;

     (C) clearly identify its offices (by signage or otherwise) as its offices, if
any, and, if any such office is located in the offices of the Originator or CGSF,
Seller shall lease such office at a fair market rent;

     (D) if applicable, have separate stationery, invoices and checks in its own
name;

     (E) conduct all transactions with the Originator, CGSF and the Servicer
(including, without limitation, any delegation of its obligations hereunder as
Servicer)strictly on an arm’s-length basis, allocate all overhead expenses (including,
without limitation, telephone and other utility charges), if any, for items shared
between Seller and the Originator or CGSF on the basis of actual use to the extent
practicable, if any, and, to the extent such allocation is not practicable, on a
basis reasonably related to actual use;

     (F) at all times have a Board of Directors consisting of at least three
members, at least one member of which is an Independent Director;

     (G) observe all corporate formalities as a distinct entity, and ensure that all
corporate actions relating to (A) the selection, maintenance or replacement of the
Independent Director, (B) the dissolution or liquidation of Seller or (C) the
initiation of, participation in, acquiescence in or consent to any bankruptcy,
insolvency, reorganization or similar proceeding involving Seller, are duly
authorized by unanimous vote of its Board of Directors (including the Independent
Director);

     (H) maintain Seller’s books and records separate from those of the Originator
and CGSF and otherwise readily identifiable as its own assets rather than assets of
the Originator or CGSF;

     (I) prepare its financial statements, if any, separately from those of the
Originator and CGSF and ensure that any consolidated financial statements of the
Originator, CGSF or any Affiliate thereof that include Seller and that are filed
with the

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Securities and Exchange Commission or any other governmental agency have
notes stating to the effect that Seller is a separate corporate entity and that its
assets will be available to satisfy the claims of the creditors of Seller and of no
other Person;

     (J) except as herein specifically otherwise provided, maintain the funds or
other assets of Seller separate from, and not commingled with, those of the
Originator or CGSF and only maintain bank accounts or other depository accounts to
which the Seller alone is the account party, into which the Seller alone makes
deposits and from which the Seller alone (or the Collateral Agent or Managing Agents
hereunder) has the power to make withdrawals;

     (K) pay all of Seller’s operating expenses, if any, from the Seller’s own
assets (except for certain payments by the Originator, CGSF or other Persons
pursuant to allocation arrangements that comply with the requirements of this
Section 6.1(i));

     (L) operate its business and activities such that: it does not engage in any
business or activity of any kind, or enter into any transaction or indenture,
mortgage, instrument, agreement, contract, lease or other undertaking, other than
the transactions contemplated and authorized by this Agreement and the Receivables
Sale Agreements; and does not create, incur, guarantee, assume or suffer to exist
any indebtedness or other liabilities, whether direct or contingent, other than (1)
as a result of the endorsement of negotiable instruments for deposit or collection
or similar transactions in the ordinary course of business, (2) the incurrence of
obligations under this Agreement, (3) the incurrence of obligations, as expressly
contemplated in the Receivables Sale Agreements, to make payment to CGSF for the
purchase of Receivables from CGSF under the Tier Two Receivables Sale Agreement, and
(4) the incurrence of operating expenses in the ordinary course of business of the
type otherwise contemplated by this Agreement;

     (M) maintain its corporate charter in conformity with this Agreement, such that
it does not amend, restate, supplement or otherwise modify its Certificate of
Incorporation or By-Laws in any respect that would impair its ability to comply with
the terms or provisions of any of the Transaction Documents, including, without
limitation, Section 6.1(i) of this Agreement;

     (N) maintain the effectiveness of, and continue to perform under the
Receivables Sale Agreements, such that it does not amend, restate, supplement,
cancel, terminate or otherwise modify either Receivables Sale Agreement, or give any
consent, waiver, directive or approval thereunder or waive any default, action,
omission or breach under either Receivables Sale Agreement or otherwise grant any
indulgence thereunder, without (in each case) the prior written consent of the
Collateral Agent and each Managing Agent;

     (O) maintain its corporate separateness such that it does not merge or
consolidate with or into, or convey, transfer, lease or otherwise dispose of
(whether in one transaction or in a series of transactions, and except as otherwise
contemplated herein) all or substantially all of its assets (whether now owned or
hereafter acquired) to, or acquire all or substantially all of the assets of, any
Person, nor at any time create, have, acquire, maintain or hold any interest in any
Subsidiary;

     (P) maintain at all times the Required Capital Amount and refrain from making
any dividend, distribution, redemption of capital stock or payment of any

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subordinated indebtedness which would cause the Required Capital Amount to cease to
be so maintained; and

     (Q) take such other actions as are necessary on its part to ensure that the
facts and assumptions set forth in the opinion issued on the date hereof by Morrison
& Foerster LLP as counsel for Seller and the Originator relating to substantive
consolidation issues, and in the certificates accompanying such opinion, remain true
and correct in all material respects at all times.

     (j) Collections. Such Seller Party shall cause (1) all proceeds from all Lock-Boxes to
be directly deposited by a Collection Bank into a Collection Account and (2) each Lock-Box and
Collection Account to be, at all times, subject to a Collection Account Agreement that is in full
force and effect. In the event any payments relating to Receivables are remitted directly to Seller
or any Affiliate of Seller, Seller shall remit (or shall cause all such payments to be remitted)
directly to a Collection Bank and deposited into a Collection Account within two (2) Business Days
following receipt thereof and, at all times prior to such remittance, Seller shall itself hold or,
if applicable, shall cause such payments to be held in trust for the exclusive benefit of the
Collateral Agent, the Managing Agents and the Purchasers. Seller shall maintain exclusive
ownership, dominion and control (subject to the terms of this Agreement) of each Lock-Box and
Collection Account and shall not grant the right to take dominion and control of any Lock-Box or
Collection Account at a future time or upon the occurrence of a future event to any Person, except
to the Collateral Agent as contemplated by this Agreement.

     (k) Taxes. Such Seller Party shall file all tax returns and reports required by law to
be filed by it and shall promptly pay all taxes and governmental charges at any time owing, except
any such taxes which are not yet delinquent or are being diligently contested in good faith by
appropriate proceedings and for which adequate reserves in accordance with generally accepted
accounting principles shall have been set aside on its books.

     (l) Corporate Ownership. The Seller shall remain a wholly-owned, direct or indirect
Subsidiary of McKesson and CGSF.

     Section 6.2 Negative Covenants of the Seller Parties. Until the date on which the
Aggregate Unpaids have been indefeasibly paid in full and this Agreement terminates in accordance
with its terms, each Seller Party hereby covenants, as to itself, that:

     (a) Name Change, Offices and Records. Such Seller Party will not make any change to
its name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or
jurisdiction of organization or location of books and records unless, at least thirty (30) days
prior to the effective date of any such name change, change in type or jurisdiction of
organization, or change in location of its books and records such Seller Party notifies the
Collateral Agent and each Managing Agent thereof and (except with respect to a change of location
of books and records) delivers to the Collateral Agent (i) such financing statements (Forms UCC-1
and UCC-3) as the Collateral Agent or any Managing Agent may reasonably request to reflect such
name change, change in type or jurisdiction of organization, (ii) if the Collateral Agent, any
Managing Agent or any Purchaser shall so request, an opinion of counsel, in form and substance
reasonably satisfactory to such Person, as to such Seller Party’s valid existence and good standing
and the perfection and priority of the Collateral Agent’s ownership or security interest in the
Receivables, the Related Security and Collections and (iii) such other documents and instruments as
the Collateral Agent or any Managing Agent may reasonably request in connection therewith and has
taken all other steps to ensure that the Collateral Agent, for the benefit of itself and the
Purchasers, continues to have a first priority, perfected ownership or security interest in the
Receivables, the Related Security related thereto and any Collections thereon.

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     (b) Change in Payment Instructions to Obligors. Except as may be required by
Collateral Agent pursuant to Section 7.2(b), such Seller Party will not add or terminate any bank
as a Collection Bank, or make any change in the instructions to Obligors regarding payments to be
made to any Lock-Box or Collection Account, unless the Collateral Agent shall have received (i) at
least ten (10) days before the proposed effective date therefor, written notice of such addition,
termination or change; provided, however, that the Servicer may make changes in
instructions to Obligors regarding payments if such new instructions require such Obligor to make
payments to another existing Collection Account, and (ii) at least ten (10) days before the
proposed effective date therefor (or such shorter prior period as may be agreed to by the
Collateral Agent in its sole discretion), with respect to the addition of a Collection Bank or a
Collection Account or Lock-Box, an executed Collection Account Agreement with respect to the new
Collection Account or Lock-Box. In the event of any change in any Lock-Box, Collection Bank or
Collection Account in accordance with this Section 6.2(b), such Seller Party shall deliver an
updated Exhibit IV to the Collateral Agent.

     (c) Modifications to Contracts and Credit and Collection Policy. Such Seller Party
will not make any change to the Credit and Collection Policy that could adversely affect the
collectibility of the Receivables or decrease the credit quality of any newly created Receivables.
Except as provided in Section 7.2(d), the Servicer will not, and will not extend, amend or
otherwise modify the terms of any Receivable or any Contract related thereto other than in
accordance with the Credit and Collection Policy.

     (d) Sales, Liens. Seller shall not sell, assign (by operation of law or otherwise) or
otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse
Claim upon (including, without limitation, the filing of any financing statement) or with respect
to, any Receivable, Related Security or Collections, or upon or with respect to any Contract under
which any Receivable arises, or any Lock-Box or Collection Account, or assign any right to receive
income with respect thereto (other than, in each case, the creation of the interests therein in
favor of the Collateral Agent and the
Purchasers provided for herein), and Seller shall defend the right, title and interest of the
Collateral Agent and the Purchasers in, to and under any of the foregoing property, against all
claims of third parties claiming through or under Seller, CGSF or the Originator. Seller shall not
create or suffer to exist any mortgage, pledge, security interest, encumbrance, lien, charge or
other similar arrangement on any inventory the sale of which would give rise to a Receivable.

     (e) Net Receivables Balance. At no time prior to the Amortization Date shall Seller
permit the Net Receivables Balance to be less than an amount equal to the sum of (i) the Aggregate
Capital plus (ii) the Aggregate Reserves for any period of time greater than one (1)
Business Day.

     (f) Amortization Date Determination. Seller shall not designate an Amortization Date
(as defined in either Receivables Sale Agreement), or send any written notice to Originator or CGSF
in respect thereof, without the prior written consent of the Collateral Agent, except with respect
to the occurrence of such Amortization Date arising pursuant to Section 5.1(d) of either
Receivables Sale Agreement.

ARTICLE VII

ADMINISTRATION AND COLLECTION

     Section 7.1 Designation of Servicer.

     (a) The servicing, administration and collection of the Receivables shall be conducted by such
Person (the “Servicer”) so designated from time to time in accordance with this Section
7.1. McKesson is hereby designated as, and hereby agrees to perform the duties and obligations of,
the Servicer pursuant to the terms of this Agreement. After the occurrence and during the
continuance of an

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Amortization Event, the Collateral Agent may at any time designate as Servicer
any Person to succeed McKesson or any successor Servicer.

     (b) Without the prior written consent of the Collateral Agent and the Required Committed
Purchasers, McKesson shall not be permitted to delegate any of its duties or responsibilities as
Servicer to any Person other than (i) Seller or another Affiliate of McKesson and (ii) with respect
to certain Defaulted Receivables, outside collection agencies in accordance with its customary
practices. Seller shall not be permitted to further delegate to any other Person any of the duties
or responsibilities of the Servicer delegated to it by McKesson. If at any time after the
occurrence of an Amortization Event, the Collateral Agent shall designate as Servicer any Person
other than McKesson or an Affiliate of McKesson, all duties and responsibilities theretofore
delegated by McKesson or another Affiliate of McKesson to Seller may, at the discretion of the
Collateral Agent, be terminated forthwith on notice given by the Collateral Agent to McKesson and
to Seller.

     (c) So long as the Servicer is McKesson or an Affiliate of McKesson, (i) McKesson shall be and
remain primarily liable to the Collateral Agent and the Purchasers for the full and prompt
performance of all duties and responsibilities of the Servicer hereunder; (ii) the Collateral Agent
and the Purchasers shall be entitled to deal exclusively with McKesson in matters relating to the
discharge by the Servicer of its duties and responsibilities hereunder; and (iii) the Collateral
Agent and the Purchasers shall not be required to give notice, demand or other communication to any
Person other than McKesson in order for communication to the Servicer and its sub-servicer or other
delegate with respect thereto to be accomplished. McKesson, at all times that it is the Servicer,
shall be responsible for providing any sub-servicer or other delegate of the Servicer with any
notice given to the Servicer under this Agreement.

     Section 7.2 Duties of Servicer.

     (a) The Servicer shall take or cause to be taken all such actions as may be necessary or
advisable to collect each Receivable from time to time, all in accordance with applicable laws,
rules and regulations, with reasonable care and diligence, and in accordance with the Credit and
Collection Policy.

     (b) The Servicer will instruct all Obligors to pay all Collections directly to a Lock-Box or
Collection Account. The Servicer shall cause a Collection Account Agreement to be in effect at all
times with respect to each Collection Account. In the case of any remittances received in any
Lock-Box or Collection Account that shall have been identified, to the satisfaction of the
Servicer, to not constitute Collections or other proceeds of the Receivables or the Related
Security, the Servicer shall promptly remit such items to the Person identified to it as being the
owner of such remittances. From and after the date the Collateral Agent delivers to any Collection
Bank a Collection Notice pursuant to Section 7.3, the Collateral Agent may request that the
Servicer, and the Servicer thereupon promptly shall instruct all Obligors with respect to the
Receivables, to remit all payments thereon to a new depositary account specified by the Collateral
Agent and, at all times thereafter, Seller and the Servicer shall not deposit or otherwise credit,
and shall not permit any other Person to deposit or otherwise credit to such new depositary account
any cash or payment item other than Collections.

     (c) The Servicer shall administer the Collections in accordance with the procedures described
herein and in Article II. The Servicer shall set aside and hold in trust for the account of Seller
and the Purchasers their respective shares of the Collections of Receivables in accordance with
Article II; provided, that nothing in this sentence shall require the Servicer to segregate
Collections on a daily basis from its other funds. The Servicer shall, upon the request of the
Collateral Agent after the occurrence and during the continuance of an Amortization Event,
segregate, in a manner acceptable to the Collateral Agent, all cash, checks and other instruments
received by it from time to time constituting Collections from the general funds of the Servicer or
Seller prior to the remittance thereof in accordance with Article

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II. If the Servicer shall be required to segregate Collections pursuant to the preceding sentence, the Servicer shall segregate
and deposit with a bank designated by the Collateral Agent such allocable share of Collections of
Receivables set aside for the Purchasers on the first Business Day following receipt by the
Servicer of such Collections, duly endorsed or with duly executed instruments of transfer.

     (d) The Servicer may, in accordance with the Credit and Collection Policy, extend the maturity
of any Receivable or adjust the Outstanding Balance of any Receivable as the Servicer determines to
be appropriate to maximize Collections thereof; provided, however, that such
extension or adjustment shall not alter the status of such Receivable as a Delinquent Receivable or
Defaulted Receivable or limit the rights of the Collateral Agent or the Purchasers under this
Agreement. Notwithstanding anything to the contrary contained herein, the Collateral Agent shall
have the absolute and unlimited right to direct the Servicer to commence or settle any legal action
with respect to any Receivable or to foreclose upon or repossess any Related Security.

     (e) The Servicer shall hold in trust for Seller and the Purchasers all Records that (i)
evidence or relate to the Receivables, the related Contracts and Related Security or (ii) are
otherwise necessary or desirable to collect the Receivables and shall, as soon as practicable upon
demand of the Collateral Agent after the occurrence and during the continuance of an Amortization
Event deliver or make available to the Collateral Agent all such Records, at a place selected by
the Collateral Agent. The Servicer shall, as soon as practicable following receipt thereof turn
over to Seller any cash collections or other cash proceeds received with respect to Indebtedness
not constituting Receivables. After the occurrence and during the continuance of an Amortization
Event, the Servicer shall, from time to time at the request of any
Purchaser, furnish to the Purchasers (promptly after any such request) a calculation of the
amounts set aside for the Purchasers pursuant to Article II.

     (f) Any payment by an Obligor in respect of any indebtedness owed by it to the Originator,
CGSF or Seller shall, except as reasonably identified by the Servicer as not constituting a
Collection, as otherwise specified by such Obligor, as otherwise required by contract or law or
unless otherwise instructed by the Collateral Agent, be applied as a Collection of any Receivable
of such Obligor (starting with the oldest such Receivable) to the extent of any amounts then due
and payable thereunder before being applied to any other receivable or other obligation of such
Obligor.

     Section 7.3 Collection Notices. The Collateral Agent is authorized at any time after
the occurrence and during the continuance of an Amortization Event to date and to deliver to the
Collection Banks the Collection Notices. Seller hereby transfers to the Collateral Agent for the
benefit of the Purchasers, effective when the Collateral Agent delivers such notice, the exclusive
ownership and control of each Lock-Box and the Collection Accounts. In case any authorized
signatory of Seller whose signature appears on a Collection Account Agreement shall cease to have
such authority before the delivery of such notice, such Collection Notice shall nevertheless be
valid as if such authority had remained in force. After the occurrence and during the continuance
of an Amortization Event, Seller hereby authorizes the Collateral Agent, and agrees that the
Collateral Agent shall be entitled, to (i) endorse Seller’s name on checks and other instruments
representing Collections and (ii) take such action as shall be necessary or desirable to cause all
cash, checks and other instruments constituting Collections of Receivables to come into the
possession of the Collateral Agent rather than Seller. Following the Amortization Date, Seller
hereby authorizes the Collateral Agent, and agrees that the Collateral Agent shall be entitled, to
enforce the Receivables, the related Contracts and the Related Security.

     Section 7.4 Responsibilities of Seller. Anything herein to the contrary
notwithstanding, the exercise by the Collateral Agent and the Purchasers of their rights hereunder
shall not release the Servicer, the Originator, CGSF or Seller from any of their duties or
obligations with respect to any Receivables or under the related Contracts. The Purchasers shall
have no obligation or liability with

21

 

respect to any Receivables or related Contracts, nor shall any
of them be obligated to perform the obligations of Seller.

     Section 7.5 Reports. The Servicer shall prepare and forward to each Managing Agent (a)
during a Level 1 Ratings Period, a Monthly Report on each Monthly Reporting Date; (b) during a
Level 2 Ratings Period, a Monthly Report on each Monthly Reporting Date and a Weekly Report on each
Weekly Reporting Date and (c) during a Level 3 Ratings Period, a Monthly Report on each Monthly
Reporting Date and a Daily Report on each Business Day, in each case, accompanied by, if the
Collateral Agent or any Managing Agent shall request, a listing by Obligor of all Receivables
together with an aging of such Receivables; provided, that if an Amortization Event has occurred
and is continuing, the Servicer shall prepare and forward Monthly Reports, Weekly Reports and Daily
Reports to each Managing Agent at such times as each Managing Agent shall request.

     Section 7.6 Servicing Fees. In consideration of McKesson’s agreement to act as
Servicer hereunder, the Purchasers hereby agree that, so long as McKesson shall continue to perform
as Servicer hereunder, the Seller shall pay over to McKesson on each Monthly Settlement Date, in
accordance with the priority of payments set forth in Article II, a fee (the “Servicing
Fee”) equal to (i) one percent (1%) of the average daily Net Receivables Balance during the
preceding Collection Period, times (ii) 1/12, as compensation for its servicing activities.

     Section 7.7 Financial Covenant. McKesson agrees that it will, as of the end of each
calendar month, maintain a ratio of Total Debt to Total Capitalization of not greater than 0.565 to
1.00.

ARTICLE VIII

AMORTIZATION EVENTS

     Section 8.1 Amortization Events. The occurrence of any one or more of the following
events shall constitute an Amortization Event:

     (a) Any Seller Party shall fail (i) to make any payment or deposit required hereunder when due
and, for any such payment or deposit which is not in respect of Capital, such failure continues for
one (1) Business Day, or (ii) to perform or observe any term, covenant or agreement hereunder
(other than as referred to in clause (i) of this paragraph (a)) and such failure shall
continue for five (5) consecutive Business Days after the earlier of written notice from the
Collateral Agent or any Managing Agent or Purchaser or actual knowledge on the part of such Seller
Party of such failure.

     (b) Any representation or warranty made by any Seller Party in this Agreement, any other
Transaction Document or in any other document delivered pursuant hereto or thereto shall prove to
have been incorrect in any material respect when made or deemed made.

     (c) (i) Failure of Seller to pay any Indebtedness when due; (ii) failure of any other Seller
Party or any Subsidiary thereof to pay Indebtedness when due in excess of $25,000,000 and such
failure continues after the applicable grace or notice period, if any, specified in the relevant
document evidencing or governing such Indebtedness on the date of such failure; or (iii) the
default by any Seller Party or any Subsidiary thereof in the performance of any term, provision or
condition contained in any agreement under which any such Indebtedness was created or is governed,
the effect of which is to cause, or to permit the holder or holders of such Indebtedness to cause,
such Indebtedness to become due prior to its stated maturity; or any such Indebtedness of any
Seller Party shall be declared to be due and payable or required to be prepaid (other than by a
regularly scheduled payment) prior to the date of maturity thereof.

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     (d) (i) Any Seller Party or any of its Material Subsidiaries shall generally not pay its debts
as such debts become due or shall admit in writing its inability to pay its debts generally or
shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted
by or against any Seller Party or any of its Material Subsidiaries seeking to adjudicate it
bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment,
protection, relief or composition of it or its debts under any law relating to bankruptcy,
insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or
the appointment of a receiver, trustee or other similar official for it or any substantial part of
its property, and, with respect to a Seller Party or any of its Material Subsidiaries other than
the Seller, such proceeding instituted against any Seller Party or any of its Material Subsidiaries
shall not be stayed, released, vacated or fully bonded within sixty (60) days after commencement,
filing or levy or (ii) any Seller Party or any of its Subsidiaries shall take any corporate action
to authorize any of the actions set forth in clause (i) above in this subsection (d).

     (e) The aggregate Purchaser Interests shall exceed 100% and shall continue as such until the
earlier of (i) one Business Day following the date any Seller Party has actual knowledge thereof
and (ii) the next Settlement Date.

     (f) As at the end of any calendar month, the Delinquency Ratio shall exceed 1.75%, or the
Loss-to-Balance Ratio shall exceed 1.50%, or the Receivables Dilution Ratio shall exceed 10.00%.

     (g) A Change of Control shall occur with respect to any Seller Party.

     (h) One or more final judgments for the payment of money shall be entered against Seller or
one or more final judgments for the payment of money in excess of $25,000,000 shall be entered
against any other Seller Party on claims not covered by insurance or as to which the insurance
carrier has denied its responsibility, and such judgment shall continue unsatisfied and in effect
for fifteen (15) consecutive days without a stay of execution;

     (i) (i) Any “Amortization Event” or the “Amortization Date” shall occur under either
Receivables Sale Agreement, (ii) the Originator shall for any reason cease to transfer, or cease to
have the legal capacity to transfer, or otherwise be incapable of transferring Receivables to CGSF
under the Tier One Receivables Sale Agreement, or (iii) CGSF shall for any reason cease to
transfer, or cease to have legal capacity to transfer, or otherwise be incapable of transferring
Receivables to Seller under the Tier Two Receivables Sale Agreement.

     (j) This Agreement shall terminate in whole or in part (except in accordance with its terms),
or shall cease to be effective or to be the legally valid, binding and enforceable obligation of
Seller, or any Obligor on Receivables constituting a material portion of the Receivables shall
directly or indirectly contest in any manner such effectiveness, validity, binding nature or
enforceability, or the Collateral Agent for the benefit of the Purchasers shall cease to have a
valid and perfected first priority security interest in the Receivables, the Related Security and
the Collections with respect thereto and the Collection Accounts.

     Section 8.2 Remedies.

     (a) Upon the occurrence and during the continuation of an Amortization Event, the Collateral
Agent may with the consent of, and shall, upon the direction of, any Managing Agent, take any of
the following actions (with written notice to the Seller): (i) declare the Amortization Date to
have occurred, whereupon the Amortization Date shall forthwith occur, without demand, protest or
further notice of any kind, all of which are hereby expressly waived by each Seller Party;
provided, however, that upon the occurrence of an Amortization Event described in
Section 8.1(d), or of an actual or deemed entry of an

23

 

order for relief with respect to any Seller Party under the Federal Bankruptcy Code,
the Amortization Date shall automatically occur, without demand, protest or any notice of any kind,
all of which are hereby expressly waived by each Seller Party, (ii) to the fullest extent permitted
by applicable law, declare that the Default Fee shall accrue with respect to any of the Aggregate
Unpaids outstanding at such time, (iii) replace the Person then acting as Servicer and (iv) deliver
the Collection Notices to the Collection Banks.

     (b) Upon the occurrence of the Amortization Date, the Collateral Agent may with the consent
of, and shall, upon the direction of, any Managing Agent (with written notice to the Seller) notify
Obligors of the Purchasers’ interest in the Receivables.

The aforementioned rights and remedies shall be in addition to all other rights and remedies of the
Collateral Agent and the Purchasers available under this Agreement, by operation of law, at equity
or otherwise, all of which are hereby expressly preserved, including, without limitation, all
rights and remedies provided under the UCC, all of which rights shall be cumulative.

ARTICLE IX

INDEMNIFICATION

     Section 9.1 Indemnities by the Seller Parties. (a) Without limiting any other rights
that the Collateral Agent, any Managing Agent or any Purchaser may have hereunder or under
applicable law, (A) Seller hereby agrees to indemnify the Collateral Agent, the Managing Agents and
each Purchaser and their respective assigns, officers, directors, agents and employees (each an
“Indemnified Party”) from and against any and all damages, losses, claims, taxes,
liabilities, costs, expenses and for all other amounts payable, including reasonable attorneys’
fees (which attorneys may be employees of the Collateral Agent, the Managing Agents or such
Purchaser) and disbursements (all of the foregoing being collectively referred to as
“Indemnified Amounts”) awarded against or incurred by any of them arising out of or as a
result of this Agreement or the acquisition, either directly or indirectly, by a Purchaser of an
interest in the Receivables, and (B) the Servicer hereby agrees to indemnify each Indemnified Party
for Indemnified Amounts awarded against or incurred by any of them arising out of any breach by the
Servicer (whether in its capacity as Servicer or in its capacity as Originator) of a
representation, warranty, covenant or obligation made by the Servicer hereunder or under any other
Transaction Document excluding, however, in all of the foregoing instances under the preceding
clauses (A) and (B):

     (w) Indemnified Amounts to the extent a final judgment of a court of competent jurisdiction
holds that such Indemnified Amounts resulted from gross negligence or willful misconduct on the
part of the Indemnified Party seeking indemnification;

     (x) Indemnified Amounts to the extent the same includes losses in respect of Receivables that
are uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the
related Obligor;

     (y) taxes imposed by the jurisdiction in which such Indemnified Party’s principal executive
office is located, on or measured by the overall net income of such Indemnified Party to the extent
that the computation of such taxes is consistent with the characterization for income tax purposes
of the acquisition by the Purchasers of Purchaser Interests as a loan or loans by the Purchasers to
Seller secured by the Receivables, the Related Security, the Collection Accounts and the
Collections; or

     (z) any claim by any Indemnified Party against another Indemnified Party;

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provided, however, that nothing contained in this sentence shall limit the
liability of any Seller Party or limit the recourse of the Purchasers to any Seller Party for
amounts otherwise specifically provided to be paid by such Seller Party under the terms of this
Agreement.

     Without limiting the generality of the foregoing indemnification, Seller shall indemnify the
Collateral Agent, the Managing Agent and the Purchasers for Indemnified Amounts (including, without
limitation, losses in respect of uncollectible receivables, subject to clause (x) in the preceding
paragraph, but otherwise regardless of whether reimbursement therefor would constitute recourse to
Seller or the Servicer) relating to or resulting from:

          (i) any representation or warranty made by any Seller Party, CGSF or the Originator (or any
officers of any such Person) under or in connection with this Agreement, any other Transaction
Document or any other information or report delivered by any such Person pursuant hereto or
thereto, which shall have been false or incorrect when made or deemed made;

          (ii) the failure by any Seller, the Servicer, CGSF or the Originator to comply with any
applicable law, rule or regulation with respect to any Receivable or Contract related thereto, or
the nonconformity of any Receivable or Contract included therein with any such applicable law, rule
or regulation or any failure of the Originator to keep or perform any of its obligations, express
or implied, with respect to any Contract;

          (iii) any failure of Seller, the Servicer, CGSF or the Originator to perform its duties,
covenants or other obligations in accordance with the provisions of this Agreement or any other
Transaction Document;

          (iv) any products liability, personal injury, damage or similar claim arising out of or in
connection with merchandise, insurance or services that are the subject of any Contract;

          (v) any dispute, claim, offset or defense (other than discharge in bankruptcy of the Obligor)
of the Obligor to the payment of any Receivable (including, without limitation, a defense based on
such Receivable or the related Contract not being a legal, valid and binding obligation of such
Obligor enforceable against it in accordance with its terms), or any other claim resulting from the
sale of the merchandise or service related to such Receivable or the furnishing or failure to
furnish such merchandise or services;

          (vi) the commingling of Collections of Receivables at any time with other funds;

          (vii) any investigation, litigation or proceeding related to or arising from this Agreement or
any other Transaction Document, the transactions contemplated hereby, the use of the proceeds of a
purchase, the ownership of the Purchaser Interests or any other investigation, litigation or
proceeding relating to Seller, the Servicer, CGSF or the Originator in which any Indemnified Party
becomes involved as a result of any of the transactions contemplated hereby;

          (viii) any inability to litigate any claim against any Obligor in respect of any Receivable as
a result of such Obligor being immune from civil and commercial law and suit on the grounds of
sovereignty or otherwise from any legal action, suit or proceeding;

          (ix) any Amortization Event described in Section 8.1(d);

          (x) any failure of Seller to acquire and maintain legal and equitable title to, and ownership
of any Receivable and the Related Security and Collections with respect thereto from CGSF

25

 

and the Originator, free and clear of any Adverse Claim (other than as created hereunder); or
any failure of Seller to give reasonably equivalent value to CGSF under the Tier Two Receivables
Sale Agreement or any failure of CGSF to give reasonably equivalent value to the Originator under
the Tier One Receivables Sale Agreement in consideration of the transfer by CGSF or the Originator,
respectively, of any Receivable, or any attempt by any Person to void such transfer under statutory
provisions or common law or equitable action;

          (xi) any failure to vest and maintain vested in the Collateral Agent and the Purchasers, or to
transfer to the Collateral Agent and the Purchasers, legal and equitable title to, and ownership
of, a first priority undivided percentage ownership interest (to the extent of the Purchaser
Interests contemplated hereunder) or security interest in the Receivables, the Related Security and
the Collections, free and clear of any Adverse Claim;

          (xii) the failure to have filed, or any delay in filing, financing statements or other similar
instruments or documents under the UCC of any applicable jurisdiction or other applicable laws with
respect to any Receivable, the Related Security and Collections with respect thereto, and the
proceeds of any thereof, whether at the time of any Incremental Purchase or Reinvestment or at any
subsequent time;

          (xiii) any action or omission by any Seller Party which reduces or impairs the rights of the
Collateral Agent or the Purchasers with respect to any Receivable or the value of any such
Receivable; and

          (xiv) any attempt by any Person to void any Incremental Purchase or Reinvestment hereunder
under statutory provisions or common law or equitable action.

     (b) Notwithstanding anything to the contrary in this Agreement, solely for the purposes of
determining Indemnified Amounts owing under this Section 9.1, any representation, warranty or
covenant qualified by materiality or the occurrence of a Material Adverse Effect shall not be so
qualified.

     Section 9.2 Increased Cost and Reduced Return.

     (a) If any Regulatory Change, except for changes in the rate of tax on the overall net income
of a Funding Source or taxes excluded by Section 9.1, (i) subjects any Funding Source to any charge
or withholding on or with respect to this Agreement or any other Funding Agreement or a Funding
Source’s obligations under this Agreement or any other Funding Agreement, or on or with respect to
the Receivables, or changes the basis of taxation of payments to any Funding Source of any amounts
payable under this Agreement or any other Funding Agreement or (ii) imposes, modifies or deems
applicable any reserve, assessment, fee, tax, insurance charge, special deposit or similar
requirement against assets of, deposits with or for the account of, or liabilities of a Funding
Source, or credit extended by a Funding Source pursuant to this Agreement or any other Funding
Agreement (except the reserve requirement reflected in the LIBO Rate) or (iii) imposes any other
condition affecting this Agreement or any Funding Agreement and the result of any of the foregoing
is to increase the cost to a Funding Source of performing its obligations under this Agreement or
any other Funding Agreement, or to reduce the rate of return on a Funding Source’s capital as a
consequence of its obligations under this Agreement or any other Funding Agreement, or to reduce
the amount of any sum received or receivable by a Funding Source under this Agreement or any other
Funding Agreement, or to require any payment calculated by reference to the amount of interests or
loans held or interest received by it then, within forty five (45) days following demand therefor
by the Collateral Agent or the relevant Managing Agent, Seller shall pay (without duplication of
any amounts payable as described in Section 9.5), as set forth in Section 9.2(b), such amounts
charged to such Funding Source or such amounts to otherwise compensate such Funding Source

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for such increased cost or such reduction; provided, that (x) Seller shall only be liable for
amounts in respect of increased costs or reduced returns for the period of up to ninety (90) days
prior to the date on which such demand was made, (y) such Funding Source shall have applied
consistent return metrics to other similarly situated borrowers or obligors (after consideration of
facility pricing, structure, usage patterns, capital treatment and relationship) with respect to
such increased costs or reduced returns and (z) to the extent that any Funding Agreement described
in this Section 9.2(a) covers facilities in addition to this Agreement, each Conduit Purchaser or
Funding Source, as the case may be, shall allocate the liability for any such increased costs or
reductions among Seller and other Persons with whom such Conduit Purchaser or Funding Source, as
the case may be, has entered into agreements to purchase interests in or finance receivables and
other financial assets (“Other Customers”), and Seller shall not be liable for any such
increased costs or reductions that are attributable to any Other Customer. The term “Regulatory
Change” shall mean (i) the adoption after the date hereof of any applicable law, rule or regulation
(including any applicable law, rule or regulation regarding capital adequacy), or any change
therein, by any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, after the date hereof, (ii) any change after the date
hereof in the interpretation or administration thereof by any governmental authority, central bank
or comparable agency charged with the interpretation or administration thereof, or compliance with
any request or directive (whether or not having the force of law) issued after the date hereof by
any such authority, central bank or comparable agency, or (iii) the compliance, whether commenced
prior to or after the date hereof, by any Funding Source with the final rule titled Risk-Based
Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of
Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial
Paper Programs; and Other Related Issues, adopted by the United States bank regulatory agencies on
December 15, 2009, or any rules or regulations promulgated in connection therewith by any such
agency.

     (b) A certificate of the applicable Funding Source (or its related Managing Agent on its
behalf) claiming compensation under Section 9.2(a) shall be sent to Seller and shall be conclusive
absent manifest error; provided that such certificate (i) sets forth in reasonable detail the
amount or amounts payable to such Funding Source pursuant to paragraph (a) of this Section 9.2,
(ii) explains the methodology used to determine such amount and (iii) states that such amount is
consistent with return metrics applied in determining amounts that such Funding Source has required
other similarly situated borrowers or obligors (after consideration of facility pricing, structure,
usage patterns, capital treatment and relationship) to pay with respect to such increased costs or
reduced returns. The Seller shall pay such Funding Source (or its related Managing Agent on its
behalf) the amount as due on any such certificate on the next Settlement Date following receipt of
such notice.

     (c) Each Funding Source subject to any Regulatory Change giving rise to a demand pursuant to
Section 9.2(a) or any Consolidation Event giving rise to a demand pursuant to Section 9.5, at the
request of Seller, shall assign pursuant to Section 11.1(b) all of its rights and obligations under
this Agreement to (i) another Funding Source in such Funding Source’s Purchaser Group, which is not
subject to a Regulatory Change or Consolidation Event, and the Conduit Purchasers in such Purchaser
Group shall consent to such assignment (provided that such assignee meets the requirements of
Section 11.1(b)), or (ii) another financial institution selected by Seller and reasonably
acceptable to Collateral Agent.

     (d) If any Funding Source (A) has or anticipates having any claim for compensation from the
Seller pursuant to clause (iii) of the definition of Regulatory Change appearing in paragraph (a)
of this Section 9.2, and (B) such Funding Source reasonably determines, following consultation with
Seller, that having the facility evidenced by this Agreement publicly rated by two credit rating
agencies (or, if the applicable Funding Source or its related Managing Agent reasonably determines,
following consultation with Seller, that the rating of a single credit rating agency is sufficient
to achieve the same effect, by one credit rating agency) would reduce the amount of such
compensation by an amount deemed by such

27

 

Funding Source to be material, then, unless the facility evidenced by this Agreement already
has been publicly rated by one or more credit rating agencies, such Funding Source (or its related
Managing Agent) shall provide written notice to the Seller and the Servicer that such Funding
Source intends to request such public rating(s) of this facility from two credit rating agencies
(or one credit rating agency, as applicable) selected by such Funding Source and acceptable to the
Seller in its sole discretion (the “Required Rating(s)”). The Seller and the Servicer agree
that they shall cooperate with such Funding Source’s efforts to obtain the Required Rating(s), and
shall use commercially reasonable efforts to provide the applicable credit rating agencies (or
credit rating agency, as applicable), either directly or through distribution to the Collateral
Agent or such Funding Source (or its related Managing Agent), any information (subject to the
agreement of each applicable credit rating agency to maintain the confidentiality of any
information so provided which relates to any Obligor) requested by such credit rating agencies (or
credit rating agency, as applicable) for purposes of providing and monitoring the Required
Rating(s); provided that neither failure to obtain the Required Rating(s) nor failure to have the
facility rated (to the extent that Seller has acted in good faith to attempt to obtain such rating)
shall constitute an Event of Default or early amortization event. The requesting Funding Source
shall pay the initial fees payable to the credit rating agencies (or credit rating agency, as
applicable) for providing the rating(s) and Seller shall pay all ongoing fees payable to the credit
rating agencies (or credit rating agency, as applicable) for their continued monitoring of the
rating(s). Nothing in this Section 9.2(d) shall preclude any Funding Source from demanding
compensation from the Seller pursuant to Section 9.2(a) hereof at any time and without regard to
whether the Required Rating(s) shall have been obtained, or shall require any Funding Source to
obtain any ratings on the facility evidenced by this Agreement prior to demanding any such
compensation from the Seller; provided, however, in demanding such compensation the applicable
Funding Source shall take into account and give effect to any reduction in amounts payable under
Section 9.2(a) due to the Required Rating(s) having been obtained.

     Section 9.3 Other Costs and Expenses. Seller shall pay to the Collateral Agent, the
Managing Agents and the Conduit Purchasers on demand all costs and out-of-pocket expenses in
connection with the preparation, execution, delivery and administration of this Agreement, the
transactions contemplated hereby and the other documents to be delivered hereunder, including
without limitation, all rating agency fees, costs and expenses incurred by any Conduit Purchaser or
Managing Agent, the cost of the Conduit Purchasers’ auditors auditing the books, records and
procedures of Seller, reasonable fees and out-of-pocket expenses of legal counsel for the Conduit
Purchasers, the Managing Agents and the Collateral Agent (which such counsel may be employees of
the Conduit Purchasers, the Managing Agents or the Collateral Agent) with respect thereto and with
respect to advising the Conduit Purchasers, the Managing Agents and the Collateral Agent as to
their respective rights and remedies under this Agreement. Seller shall pay to the Collateral Agent
or the relevant Managing Agent, within ten (10) days following demand therefor, any and all costs
and expenses of the Collateral Agent, the Managing Agents and the Purchasers, if any, including
reasonable counsel fees and expenses in connection with the enforcement of this Agreement and the
other documents delivered hereunder and in connection with any restructuring or workout of this
Agreement or such documents, or the administration of this Agreement following an Amortization
Event.

     Section 9.4 Withholding Tax Exemption.

     (a) At least five (5) Business Days prior to the first date on which any amount is payable
hereunder for the account of any Purchaser, each Purchaser that is not a “United States person” for
United States federal income tax purposes agrees that it will deliver to each of Seller and the
related Purchaser Group Managing Agent two duly completed and originally executed copies of United
States Internal Revenue Service Form W-8BEN, W-8ECI or W-8IMY with all necessary attachments or
applicable successor forms, certifying in each case that such Purchaser is entitled to receive
payments under this Agreement without deduction or withholding of any United States federal income
taxes. Each such

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Purchaser further undertakes to deliver to each of Seller and the related Managing Agent two
additional copies of such form (or a successor form) on or before the date that such form expires
or becomes obsolete or after the occurrence of any event requiring a change in the most recent
forms so delivered by it, and such amendments thereto or extensions or renewals thereof as may be
reasonably requested by Seller or the related Managing Agent, in each case certifying that such
Purchaser is entitled to receive payments under this Agreement without deduction or withholding of
any United States federal income taxes, unless any change in any treaty, law or regulation has
occurred prior to the date on which any such delivery would otherwise be required which renders all
such forms inapplicable or which prevents such Purchaser from duly completing and delivering any
such form with respect to it and such Purchaser advises Seller and the related Managing Agent that
it is not capable of receiving payments without any deduction or withholding of United States
federal income tax.

     (b) Each Purchaser that is not a “United States person” for U.S. federal income tax purposes
agrees to indemnify and hold Seller, the Managing Agents and the Collateral Agent harmless in
respect of any loss, cost or expense incurred by Seller, any Managing Agent or the Collateral Agent
as a result of, and agrees that, notwithstanding any other provision hereof, payments hereunder to
such Purchaser may be subject to deduction or withholding without indemnification by Seller for any
United States federal income taxes, penalties, interest and other costs and losses incurred or
payable by Seller, any Managing Agent or the Collateral Agent as a result of, (i) such Purchaser’s
failure to submit any form that is required pursuant to this Section 9.4 or (ii) Seller’s, any
Managing Agent’s or the Collateral Agent’s reliance on any form that such Purchaser has provided
pursuant to this Section 9.4 that is determined to be inaccurate in any material respect.

     Section 9.5 Accounting Based Consolidation Event. Upon demand by the related Managing
Agent, Seller shall pay to such Managing Agent, for the benefit of the relevant Affected Entity,
such amounts (without duplication of any amounts payable as described in Section 9.2 above) as such
Affected Entity reasonably determines will compensate or reimburse such Affected Entity for any (i)
fee, expense or increased cost charged to, incurred or otherwise suffered by such Affected Entity,
(ii) reduction in the rate of return on such Affected Entity’s capital or reduction in the amount
of any sum received or receivable by such Affected Entity or (iii) internal capital charge or other
imputed cost, in each case, as determined by such Affected Entity to be allocable to Seller or the
transactions contemplated in this Agreement, in each case resulting from or in connection with the
following (which shall constitute a “Consolidation Event”): the consolidation, for
financial and/or regulatory accounting purposes, of all or any portion of the assets and
liabilities of any Conduit Purchaser that are subject to this Agreement or any other Transaction
Document with all or any portion of the assets and liabilities of an Affected Entity; provided,
however, that (A) the amounts paid by the Seller to any Affected Entity under this Section 9.5 for
any Accrual Period shall not exceed an amount equal to (x) the total Capital of such Affected
Entity during such Accrual Period multiplied by (y) the Applicable Margin during such Accrual
Period, (B) in no event may any Affected Entity (or the applicable Managing Agent on its behalf)
claim or receive reimbursement or compensation for amounts under this Section 9.5 which were
charged to, incurred or otherwise suffered by such Affected Entity on or before the later of (x)
May 19, 2010 and (y) the date that is more than ninety (90) days prior to the date on which demand
therefor was made and (C) such Affected Entity shall have applied consistent return metrics to
other similarly situated borrowers or obligors (after consideration of facility pricing, structure,
usage patterns, capital treatment and relationship) with respect to such fee, expense, increased
cost, reduction, charge or other imputed cost. Subject to the proviso in the preceding sentence,
amounts under this Section 9.5 may be demanded at any time without regard to the timing of issuance
of any financial statement by the Conduit Purchaser or by any Affected Entity. A certificate of
the Affected Entity claiming compensation under this Section 9.5 shall be delivered to Seller and
shall be conclusive absent manifest error; provided that such certificate (i) sets forth in
reasonable detail the amount or amounts payable to such Affected Entity pursuant to this Section
9.5, (ii) explains the manner in which such amount was determined and (iii) states that the
applicable Affected Entity has

29

 

applied consistent return metrics to other similarly situated borrowers or obligors (after
consideration of facility pricing, structure, usage patterns, capital treatment and relationship)
with respect to the applicable fee, expense, increased cost, reduction, charge or other imputed
cost. The Seller shall pay such Affected Entity the amount as due on any such certificate on the
next Settlement Date following receipt of such notice. The term “Affected Entity” shall mean (i)
any Funding Source, (ii) any agent, administrator or manager of a Conduit Purchaser, or (iii) any
bank holding company in respect of any of the foregoing.

ARTICLE X

THE AGENTS

     Section 10.1 Authorization and Action. Each Purchaser hereby designates and appoints
JPMorgan Chase to act as its agent hereunder and under each other Transaction Document, and
authorizes the Collateral Agent and its related Managing Agent to take such actions as agent on its
behalf and to exercise such powers as are delegated to the Collateral Agent or such Managing Agent
by the terms of this Agreement and the other Transaction Documents together with such powers as are
reasonably incidental thereto. Neither the Collateral Agent nor any Managing Agent shall have any
duties or responsibilities, except those expressly set forth herein or in any other Transaction
Document, or any fiduciary relationship with any Purchaser, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities on the part of the Collateral Agent or the
Managing Agents shall be read into this Agreement or any other Transaction Document or otherwise
exist for the Collateral Agent or the Managing Agents. In performing their respective functions and
duties hereunder and under the other Transaction Documents, (i) the Collateral Agent shall act
solely as agent for the Purchasers, (ii) each Managing Agent shall act solely as agent for the
Conduit Purchasers and Committed Purchasers in the related Purchaser Group and (iii) neither the
Collateral Agent nor any Managing Agent shall be deemed to have assumed any obligation or
relationship of trust or agency with or for any Seller Party or any of such Seller Party’s
successors or assigns. Neither the Collateral Agent nor any Managing Agent shall be required to
take any action that exposes the Collateral Agent or the Managing Agents to personal liability or
that is contrary to this Agreement, any other Transaction Document or applicable law. The
appointment and authority of the Collateral Agent and the Managing Agents hereunder shall terminate
upon the indefeasible payment in full of all Aggregate Unpaids. Each Purchaser hereby authorizes
the Collateral Agent and each Managing Agent, as applicable, to execute each of the Uniform
Commercial Code financing statements, this Agreement and such other Transaction Documents as may
require the Collateral Agent’s or a Managing Agent’s signature on behalf of such Purchaser (the
terms of which shall be binding on such Purchaser).

     Section 10.2 Delegation of Duties. The Collateral Agent and the Managing Agents may
execute any of their respective duties under this Agreement and each other Transaction Document by
or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all
matters pertaining to such duties. Neither the Collateral Agent nor any Managing Agent shall be
responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with
reasonable care.

     Section 10.3 Exculpatory Provisions. None of the Collateral Agent, the Managing Agents
or any of their respective directors, officers, agents or employees shall be (i) liable for any
action lawfully taken or omitted to be taken by it or them under or in connection with this
Agreement or any other Transaction Document (except for its, their or such Person’s own gross
negligence or willful misconduct), or (ii) responsible in any manner to any of the Purchasers for
any recitals, statements, representations or warranties made by any Seller Party contained in this
Agreement, any other Transaction Document or any certificate, report, statement or other document
referred to or provided for in, or received under or in connection with, this Agreement, or any
other Transaction Document or for the value, validity,

30

 

effectiveness, genuineness, enforceability or sufficiency of this Agreement, or any other
Transaction Document or any other document furnished in connection herewith or therewith, or for
any failure of any Seller Party to perform its obligations hereunder or thereunder, or for the
satisfaction of any condition specified in Article V, or for the perfection, priority, condition,
value or sufficiency of any collateral pledged in connection herewith. Neither the Collateral Agent
nor any Managing Agent shall be under any obligation to any Purchaser to ascertain or to inquire as
to the observance or performance of any of the agreements or covenants contained in, or conditions
of, this Agreement or any other Transaction Document, or to inspect the properties, books or
records of the Seller Parties. Neither the Collateral Agent nor any Managing Agent shall be deemed
to have knowledge of any Amortization Event or Potential Amortization Event unless the Collateral
Agent or such Managing Agent, as applicable, has received notice from Seller or a Purchaser.

     Section 10.4 Reliance by Agents. The Collateral Agent and the Managing Agents shall in
all cases be entitled to rely, and shall be fully protected in relying, upon any document or
conversation believed by it to be genuine and correct and to have been signed, sent or made by the
proper Person or Persons and upon advice and statements of legal counsel (including, without
limitation, counsel to Seller), independent accountants and other experts selected by the
Collateral Agent or any Managing Agent. The Collateral Agent and the Managing Agents shall in all
cases be fully justified in failing or refusing to take any action under this Agreement or any
other Transaction Document unless it shall first receive such advice or concurrence of the Conduit
Purchasers or the Required Committed Purchasers or all of the Purchasers, as applicable, as they
deem appropriate and they shall first be indemnified to their satisfaction by the Purchasers,
provided that unless and until the Collateral Agent or any Managing Agent shall have
received such advice, the Collateral Agent or such Managing Agent may take or refrain from taking
any action, as the Collateral Agent or such Managing Agent shall deem advisable and in the best
interests of the Purchasers. The Collateral Agent and the Managing Agents shall in all cases be
fully protected in acting, or in refraining from acting, in accordance with a request of the
related Conduit Purchasers or the Required Committed Purchasers or all of the Purchasers, as
applicable, and such request and any action taken or failure to act pursuant thereto shall be
binding upon all the Purchasers.

     Section 10.5 Non-Reliance on Agents and Other Purchasers. Each Purchaser expressly
acknowledges that none of the Collateral Agent, the Managing Agents or any of their respective
officers, directors, employees, agents, attorneys-in-fact or affiliates has made any
representations or warranties to it and that no act by the Collateral Agent or any Managing Agent
hereafter taken, including, without limitation, any review of the affairs of any Seller Party,
shall be deemed to constitute any representation or warranty by the Collateral Agent or such
Managing Agent. Each Purchaser represents and warrants to the Collateral Agent and the Managing
Agents that it has and will, independently and without reliance upon the Collateral Agent, any
Managing Agent or any other Purchaser and based on such documents and information as it has deemed
appropriate, made its own appraisal of and investigation into the business, operations, property,
prospects, financial and other conditions and creditworthiness of Seller and made its own decision
to enter into this Agreement, the other Transaction Documents and all other documents related
hereto or thereto.

     Section 10.6 Reimbursement and Indemnification. The Committed Purchasers agree to
reimburse and indemnify the Collateral Agent and its respective officers, directors, employees,
representatives and agents ratably according to their Pro Rata Shares, to the extent not paid or
reimbursed by the Seller Parties (i) for any amounts for which the Collateral Agent, acting in its
capacity as Collateral Agent, is entitled to reimbursement by the Seller Parties hereunder and (ii)
for any other expenses incurred by the Collateral Agent, in its capacity as Collateral Agent, in
connection with the administration and enforcement of this Agreement and the other Transaction
Documents. The Committed Purchasers in each Purchaser Group agree to reimburse and indemnify the
related Managing Agent and its respective officers, directors, employees, representatives and
agents ratably according to their Commitments, to the

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extent not paid or reimbursed by the Seller Parties (i) for any amounts for which such
Managing Agent, acting in its capacity as Managing Agent, is entitled to reimbursement by the
Seller Parties hereunder and (ii) for any other expenses incurred by such Managing Agent, in its
capacity as Managing Agent, in connection with the administration and enforcement of this Agreement
and the other Transaction Documents.

     Section 10.7 Agents in their Individual Capacities. The Collateral Agent, each
Managing Agent and each of its respective Affiliates may make loans to, accept deposits from and
generally engage in any kind of business with Seller or any Affiliate of Seller as though it were
not the Collateral Agent or a Managing Agent hereunder. With respect to the acquisition of
Purchaser Interests pursuant to this Agreement, the Collateral Agent and each Managing Agent shall
have the same rights and powers under this Agreement in its individual capacity as any Purchaser
and may exercise the same as though it were not the Collateral Agent or a Managing Agent, and the
terms “Committed Purchaser,” “Purchaser,” “Committed Purchasers” and
“Purchasers” shall include the Collateral Agent and each Managing Agent in its individual
capacity.

     Section 10.8 Successor Agent. The Collateral Agent and each Managing Agent may, upon
five (5) days’ notice to Seller and the Purchasers, and the Collateral Agent or any Managing Agent
will, upon the direction of all of the Purchasers (other than such Collateral Agent or Managing
Agent, in its individual capacity, as applicable) resign as Collateral Agent or Managing Agent, as
applicable. If the Collateral Agent or a Managing Agent shall resign, then the Required Committed
Purchasers, in the case of the Collateral Agent, or the Committed Purchasers of the related
Purchaser Group, in the case of a Managing Agent during such five-day period shall appoint from
among the Committed Purchasers, in the case of the Collateral Agent, or the Committed Purchasers of
the related Purchaser Group, in the case of a Managing Agent, a successor agent. If for any reason
no successor agent is appointed by the Required Committed Purchasers, in the case of the Collateral
Agent, or the Committed Purchasers of the related Purchaser Group, in the case of a Managing Agent,
during such five-day period, then effective upon the termination of such five-day period, the
Committed Purchasers, in the case of the Collateral Agent, and the Committed Purchasers of the
related Purchaser Group, in the case of a Managing Agent, shall perform all of the duties of the
Collateral Agent or the applicable Managing Agent hereunder and under the other Transaction
Documents and Seller and the Servicer (as applicable) shall make all payments in respect of the
Aggregate Unpaids directly to the applicable Purchasers and for all purposes shall deal directly
with the Purchasers. After the effectiveness of any retiring Collateral Agent’s or Managing Agent’s
resignation hereunder as Collateral Agent or Managing Agent, as applicable, the retiring Collateral
Agent or Managing Agent shall be discharged from its duties and obligations hereunder and under the
other Transaction Documents and the provisions of this Article X and Article IX shall continue in
effect for its benefit with respect to any actions taken or omitted to be taken by it while it was
Collateral Agent or Managing Agent under this Agreement and under the other Transaction Documents.

ARTICLE XI

ASSIGNMENTS; PARTICIPATIONS

     Section 11.1 Assignments.

     (a) Seller and each Committed Purchaser hereby agree and consent to the complete or partial
assignment by each Conduit Purchaser of all or any portion of its rights under, interest in, title
to and obligations under this Agreement (i) to the related Committed Purchasers pursuant to this
Agreement or pursuant to a Liquidity Agreement, (ii) to any other issuer of commercial paper notes
sponsored or administered by the Managing Agent of such Conduit’s Purchaser Group and with a rating
of at least A-1/P-1 or (iii) to any other Person; provided that, prior to the occurrence of
an Amortization Event, such Conduit Purchaser may not make any such assignment pursuant to this
clause (iii), except in the event that

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the circumstances described in Section 11.1(c) occur, without the consent of Seller (which
consent shall not be unreasonably withheld or delayed), and upon such assignment, such Conduit
Purchaser shall be released from its obligations so assigned. Further, Seller and each Committed
Purchaser hereby agree that any assignee of any Conduit Purchaser of this Agreement or all or any
of the Purchaser Interests of such Conduit Purchaser shall have all of the rights and benefits
under this Agreement as if the term “Conduit Purchaser” explicitly referred to such party,
and no such assignment shall in any way impair the rights and benefits of such Conduit Purchaser
hereunder. Neither Seller nor the Servicer shall have the right to assign its rights or obligations
under this Agreement.

     (b) Any Committed Purchaser may, at any time and from time to time, assign to one or more
Persons (“Purchasing Committed Purchasers”) all or any part of its rights and obligations
under this Agreement pursuant to an assignment agreement, substantially in the form set forth in
Exhibit VII hereto (the “Assignment Agreement”) executed by such Purchasing Committed
Purchaser and such selling Committed Purchaser. The consent of the Conduit Purchaser or Conduit
Purchasers in such Committed Purchaser’s Purchaser Group, if any, shall be required prior to the
effectiveness of any such assignment. The selling Committed Purchaser will consult with the Seller
regarding the suitability of the Purchasing Committed Purchaser prior to the effectiveness of any
assignment pursuant to this Section 11.1(b) and, so long as the Seller’s response is not
unreasonably withheld or delayed, such Committed Purchaser will use commercially reasonable efforts
to accommodate the Seller’s preferences and, if the Seller timely solicits a commitment from an
eligible assignee on terms that are not disadvantageous to the assigning Committed Purchaser, such
Committed Purchaser will accommodate the Seller’s request. Each assignee of a Committed Purchaser
which is a member of a Purchaser Group which has a Conduit Purchaser as a member must have a
short-term debt rating from S&P and Moody’s equal to or greater than the ratings required in order
to maintain the rating of the commercial paper issued by the related Conduit Purchaser (the
“Required Ratings”). Upon delivery of the executed Assignment Agreement to the Collateral
Agent, such selling Committed Purchaser shall be released from its obligations hereunder to the
extent of such assignment. Thereafter the Purchasing Committed Purchaser shall for all purposes be
a Committed Purchaser party to this Agreement and shall have all the rights and obligations of a
Committed Purchaser under this Agreement to the same extent as if it were an original party hereto
and no further consent or action by Seller, the Purchasers or the Collateral Agent shall be
required.

     (c) Each of the Committed Purchasers that is (i) not a Conduit Purchaser and (ii) a member of
a Purchaser Group that has a Conduit Purchaser as a member, agrees that in the event that it shall
cease to have the Required Ratings (an “Affected Committed Purchaser”), such Affected
Committed Purchaser shall be obliged, at the request of the Conduit Purchasers in such Committed
Purchaser’s Purchaser Group or the applicable Managing Agent, to assign all of its rights and
obligations hereunder to (x) another Committed Purchaser or (y) another funding entity nominated by
such Managing Agent and acceptable to such affected Conduit Purchasers, and willing to participate
in this Agreement through the Facility Termination Date in the place of such Affected Committed
Purchaser; provided, that the Affected Committed Purchaser receives payment in full,
pursuant to an Assignment Agreement, of an amount equal to such Committed Purchaser’s Pro Rata
Share of the Aggregate Capital and Yield owing to the Committed Purchasers and all accrued but
unpaid fees and other costs and expenses payable in respect of its Pro Rata Share of the Purchaser
Interests of the Committed Purchasers.

     Section 11.2 Participations. Any Committed Purchaser may, in the ordinary course of
its business at any time sell to one or more Persons (each a “Participant”) participating
interests in its Pro Rata Share of the Purchaser Interests of the Committed Purchasers or any other
interest of such Committed Purchaser hereunder. The selling Committed Purchaser will consult with
the Seller regarding the suitability of each Participant prior to the effectiveness of any
participation pursuant to this Section 11.2 and, so long as the Seller’s response is not
unreasonably withheld or delayed, such Committed Purchaser will use commercially reasonable efforts
to accommodate the Seller’s preferences, and, if the

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Seller timely solicits a commitment from an eligible Participant on terms that are not
disadvantageous to the selling Committed Purchaser, such Committed Purchaser will accommodate the
Seller’s request. Notwithstanding any such sale by a Committed Purchaser of a participating
interest to a Participant, such Committed Purchaser’s rights and obligations under this Agreement
shall remain unchanged, such Committed Purchaser shall remain solely responsible for the
performance of its obligations hereunder, and Seller, the Servicer, the Conduit Purchasers, the
Managing Agents and the Collateral Agent shall continue to deal solely and directly with such
Committed Purchaser in connection with such Committed Purchaser’s rights and obligations under this
Agreement. No Participant shall have rights greater than those of the related Committed Purchaser.
Each Committed Purchaser agrees that any agreement between such Committed Purchaser and any such
Participant in respect of such participating interest shall not restrict such Committed Purchaser’s
right to agree to any amendment, supplement, waiver or modification to this Agreement, except for
any amendment, supplement, waiver or modification described in Section 11.1(b)(i).

     Section 11.3 Additional Purchaser Groups; Joinder by Conduit Purchaser.

     (a) Upon the Seller’s request, an additional Purchaser Group may be added to this Agreement at
any time by the execution and delivery of a joinder agreement, substantially in the form set forth
in Exhibit XI hereto (a “Joinder Agreement”) by the members of such proposed additional
Purchaser Group, the Seller, the Servicer and the Collateral Agent, which execution and delivery
shall not be unreasonably refused by such parties. Upon the effective date of such Joinder
Agreement, (i) each Person specified therein as a “New Conduit Purchaser” shall become a party
hereto as a Conduit Purchaser, entitled to the rights and subject to the obligations of a Conduit
Purchaser hereunder, (ii) each Person specified therein as a “New Committed Purchaser” shall become
a party hereto as a Committed Purchaser, entitled to the rights and subject to the obligations of a
Committed Purchaser hereunder, (iii) each Person specified therein as a “New Managing Agent” shall
become a party hereto as a Managing Agent, entitled to the rights and subject to the obligations of
a Managing Agent hereunder and (iv) the Purchase Limit shall be increased, if appropriate, by an
amount which is equal to (x) the aggregate Commitments of the New Committed Purchasers party to
such Joinder Agreement. On or prior to the effective date of such Joinder Agreement, the Seller,
each new Purchaser and the new Managing Agent shall enter into a Fee Letter for purposes of setting
forth the fees payable to the members of such Purchaser Group in connection with this Agreement.

     (b) Any Purchaser Group may add a Conduit Purchaser member at any time by the execution and
delivery of a Joinder Agreement by such proposed Conduit Purchaser, the other members of such
Purchaser Group, the Seller, the Servicer and the Collateral Agent, which execution and delivery
shall not be unreasonably refused by such parties. Upon the effective date of such Joinder
Agreement, each Person specified therein as a “New Conduit Purchaser” shall become a party hereto
as a Conduit Purchaser, entitled to the rights and subject to the obligations of a Conduit
Purchaser hereunder.

     Section 11.4 Extension of Facility Termination Date. The Seller may advise any
Managing Agent in writing of its desire to extend the Facility Termination Date for an additional
period not exceeding 364 days, provided such request is made not more than 90 days prior to, and
not less than 60 days prior to, the then current Facility Termination Date. Each Managing Agent so
advised by the Seller shall promptly notify each Committed Purchaser in its related Purchaser Group
of any such request and each such Committed Purchaser shall notify its related Managing Agent, the
Collateral Agent and the Seller of its decision to accept or decline the request for such extension
no later than 30 days prior to the then current Facility Termination Date (it being understood that
each Committed Purchaser may accept or decline such request in its sole discretion and on such
terms as it may elect, and the failure to so notify its Managing Agent, the Collateral Agent and
the Seller shall be deemed an election not to extend by such Committed Purchaser). In the event
that at least one Committed Purchaser agrees to extend the Facility

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Termination Date, the Seller Parties, the Collateral Agent, the extending Committed Purchasers
and the applicable Managing Agent or Managing Agents shall enter into such documents as such
extending Committed Purchasers may deem necessary or appropriate to reflect such extension, and all
reasonable costs and expenses incurred by such Committed Purchasers, the Managing Agents and the
Collateral Agent (including reasonable attorneys’ fees) shall be paid by the Seller. In the event
that any Committed Purchaser (a) declines the request to extend the Facility Termination Date or
(b) is in a Purchaser Group with respect to which the Seller did not seek an extension of the
Facility Termination Date (each such Committed Purchaser being referred to herein as a
“Non-Renewing Committed Purchaser”), and, in the case of a Non-Renewing Committed Purchaser
described in clause (a), the Commitment of such Non-Renewing Committed Purchaser is not assigned to
another Person in accordance with the terms of this Article XI prior to the then current Facility
Termination Date, the Purchase Limit shall be reduced by an amount equal to each such Non-Renewing
Committed Purchaser’s Commitment on the then current Facility Termination Date.

     Section 11.5 Terminating Committed Purchasers.

     (a) Any Affected Committed Purchaser or Non-Renewing Committed Purchaser which has not
assigned its rights and obligations hereunder if requested pursuant to this Article XI shall be a
“Terminating Committed Purchaser” for purposes of this Agreement as of the then current
Facility Termination Date (or, in the case of any Affected Committed Purchaser, such earlier date
as declared by the Conduit Purchaser in such Affected Committed Purchaser’s Purchaser Group). If an
Amortization Event has occurred, and the Committed Purchasers in a Purchaser Group have voted or
otherwise determined to declare an Amortization Date, but the Committed Purchasers in the other
Purchaser Groups have voted or otherwise determined not to declare an Amortization Date, then the
Committed Purchasers in such Purchaser Group (and each Conduit Purchaser in such Purchaser Group
that has any Capital outstanding at such time) may, upon written notice to the Servicer, the Seller
and the Collateral Agent, elect to become, and shall become, Terminating Committed Purchasers
effective on the date specified in such notice, which shall be a date no less than three (3)
Business Days after the date such notice is received by the Servicer, the Seller and the Collateral
Agent.

     (b) Each Terminating Committed Purchaser shall be allocated, in accordance with Section 2.2, a
ratable portion of Collections according to its respective Termination Percentage from the date of
its becoming a Terminating Committed Purchaser (the “Termination Date”) until such
Terminating Committed Purchaser’s Capital shall be paid in full. Each Terminating Committed
Purchaser’s Termination Percentage shall remain constant prior to the Amortization Date. On and
after the Amortization Date, each Termination Percentage shall be disregarded, and each Terminating
Committed Purchaser’s Capital shall be reduced ratably with all Committed Purchasers in accordance
with Section 2.3.

     (c) On the date any Committed Purchaser becomes a Terminating Committed Purchaser, the
Commitment of such Committed Purchaser shall terminate and the Purchase Limit shall be reduced by
an amount equal to such Committed Purchaser’s Commitment. Upon reduction to zero of the Capital of
all of the Purchaser Interests of a Terminating Committed Purchaser (after application of
Collections thereto pursuant to Sections 2.2 and 2.4) all rights and obligations of such
terminating Committed Purchaser hereunder shall be terminated and such terminating Committed
Purchaser shall no longer be a “Committed Purchaser” hereunder; provided, however,
that the provisions of Article IX shall continue in effect for its benefit with respect to
Purchaser Interests or the Commitment held by such Terminating Committed Purchaser prior to its
termination as a Committed Purchaser.

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ARTICLE XII

MISCELLANEOUS

     Section 12.1 Waivers and Amendments.

     (a) No failure or delay on the part of the Collateral Agent, the Managing Agents or any
Purchaser in exercising any power, right or remedy under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any
other further exercise thereof or the exercise of any other power, right or remedy. The rights and
remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by
law. Any waiver of this Agreement shall be effective only in the specific instance and for the
specific purpose for which given.

     (b) No provision of this Agreement may be amended, supplemented, modified or waived except in
writing in accordance with the provisions of this Section 12.1(b). The Conduit Purchasers, Seller,
the Servicer, the Managing Agents and the Collateral Agent, at the direction of the Required
Committed Purchasers, may enter into written modifications or waivers of any provisions of this
Agreement, provided, however, that no such modification or waiver shall:

          (i) without the consent of each affected Purchaser, (A) extend the Facility Termination Date
or the date of any payment or deposit of Collections by Seller or the Servicer, (B) reduce the rate
or extend the time of payment of Yield (or any component thereof), (C) reduce any fee payable to
the Collateral Agent or the Managing Agents for the benefit of the Purchasers, (D) except pursuant
to Article XI hereof, change the amount of the Capital of any Purchaser, any Committed Purchaser’s
Pro Rata Share (except as may be required pursuant to a Conduit Purchaser’s Liquidity Agreement) or
any Committed Purchaser’s Commitment, (E) amend, modify or waive any provision of the definition of
Required Committed Purchasers or this Section 12.1(b), (F) consent to or permit the assignment or
transfer by Seller of any of its rights and obligations under this Agreement, (G) change the
definition of “Concentration Limit,” “Defaulted Receivables,” “Default Proxy Ratio,” “Delinquency
Ratio,” “Delinquent Receivable,” “Discount and Servicing Fee Reserve,” “Dilution Horizon Ratio,”
“Dilution Reserve,” “Dilution Reserve Ratio,” “Dilution Ratio,” “Eligible Receivable,” “Loss
Horizon Ratio,” “Loss Reserve,” “Loss Reserve Ratio,” “Loss-to-Balance Ratio,” or “Receivables
Dilution Ratio” or (H) amend or modify any defined term (or any defined term used directly or
indirectly in such defined term) used in clauses (A) through (G) above in a manner that would
circumvent the intention of the restrictions set forth in such clauses; or

          (ii) without the written consent of any then Collateral Agent or Managing Agent, amend, modify
or waive any provision of this Agreement if the effect thereof is to affect the rights or duties of
such Collateral Agent or Managing Agent, as applicable.

Notwithstanding the foregoing, (i) without the consent of the Committed Purchasers, the Collateral
Agent may, with the consent of Seller, amend this Agreement solely to add additional Persons as
Committed Purchasers hereunder and (ii) the Collateral Agent, the Required Committed Purchasers and
the Conduit Purchasers may enter into amendments to modify any of the terms or provisions of
Article X, Article XI and Section 12.13 or any other provision of this Agreement without the
consent of Seller, provided that such amendment has no negative impact upon Seller. Any
modification or waiver made in accordance with this Section 12.1 shall apply to each of the
Purchasers equally and shall be binding upon Seller, the Purchasers, the Managing Agents and the
Collateral Agent.

     Section 12.2 Notices. Except as provided below, all communications and notices
provided for hereunder shall be in writing (including bank wire, telecopy or electronic facsimile
transmission or

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similar writing) and shall be given to the other parties hereto at their respective addresses
or facsimile numbers set forth below:

     If to the Seller:

CGSF Funding Corporation

One Post Street

San Francisco, California 94104

Fax: (415) 983-9369

     If to the Servicer:

McKesson Corporation

One Post Street

San Francisco, California 94104

Fax: (415) 983-9369

     If to the Collateral Agent:

JPMorgan Chase Bank, N.A.

Asset Backed Securities

10 South Dearborn Street

Suite IL1-0079

Chicago, IL 60670

Fax: (312) 732-4487

     If to any Managing Agent:

The address set forth on Schedule B hereto

     If to any Purchaser:

The address of the related Managing Agent set forth on Schedule B hereto

or, in each case, at such other address or telecopy number as such Person may hereafter specify for
the purpose of notice to each of the other parties hereto. Each such notice or other communication
shall be effective (i) if given by telecopy, upon the receipt thereof, (ii) if given by mail, three
(3) Business Days after the time such communication is deposited in the mail with first class
postage prepaid or (iii) if given by any other means, when received at the address specified in
this Section 12.2. Seller hereby authorizes the Collateral Agent to effect purchases and Tranche
Period and Discount Rate selections based on telephonic notices made by any Person whom the
Collateral Agent in good faith believes to be acting on behalf of Seller. Seller agrees to deliver
promptly to the Collateral Agent a written confirmation of each telephonic notice signed by an
authorized officer of Seller; however, the absence of such confirmation shall not affect the
validity of such notice. If the written confirmation differs from the action taken by the
Collateral Agent, the records of the Collateral Agent shall govern absent manifest error.

     Section 12.3 Ratable Payments. If any Purchaser, whether by setoff or otherwise, has
payment made to it with respect to any portion of the Aggregate Unpaids owing to such Purchaser
(other than payments received pursuant to Section 9.2 or 9.3) in a greater proportion than that
received by any other Purchaser entitled to receive a ratable share of such Aggregate Unpaids, such
Purchaser agrees, promptly upon demand, to purchase for cash without recourse or warranty a portion
of such Aggregate Unpaids

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held by the other Purchasers so that after such purchase each Purchaser will hold its ratable
proportion of such Aggregate Unpaids; provided that if all or any portion of such excess amount is
thereafter recovered from such Purchaser, such purchase shall be rescinded and the purchase price
restored to the extent of such recovery, but without interest.

     Section 12.4 Protection of Ownership Interests of the Purchasers.

     (a) Seller agrees that from time to time, at its expense, it will promptly execute and deliver
all instruments and documents, and take all actions, that may be necessary or desirable, or that
the Collateral Agent may reasonably request, to perfect, protect or more fully evidence the
Purchaser Interests, or to enable the Collateral Agent or the Purchasers to exercise and enforce
their rights and remedies hereunder. At any time following the occurrence of the Amortization Date
resulting from an Amortization Event, the Collateral Agent may, or the Collateral Agent may direct
Seller or the Servicer to, notify the Obligors of Receivables, at Seller’s expense, of the
ownership or security interests of the Purchasers under this Agreement and after the occurrence and
during the continuance of an Amortization Event, may also direct that payments of all amounts due
or that become due under any or all Receivables be made directly to the Collateral Agent or its
designee. Seller or the Servicer (as applicable) shall, at any Purchaser’s request, withhold the
identity of such Purchaser in any such notification.

     (b) If any Seller Party fails to perform any of its obligations hereunder, the Collateral
Agent or any Purchaser may (but shall not be required to) perform, or cause performance of, such
obligation, and the Collateral Agent’s or such Purchaser’s costs and expenses incurred in
connection therewith shall be payable by Seller as provided in Section 9.3. Each Seller Party
irrevocably authorizes the Collateral Agent at any time and from time to time in the sole
discretion of the Collateral Agent, and appoints the Collateral Agent as its attorney-in-fact, to
act on behalf of such Seller Party (i) to execute on behalf of Seller as debtor and to file
financing statements necessary or desirable in the Collateral Agent’s sole discretion to perfect
and to maintain the perfection and priority of the interest of the Purchasers in the Receivables
and (ii) to file a carbon, photographic or other reproduction of this Agreement or any financing
statement with respect to the Receivables as a financing statement in such offices as the
Collateral Agent in its sole discretion deems necessary or desirable to perfect and to maintain the
perfection and priority of the interests of the Purchasers in the Receivables. This appointment is
coupled with an interest and is irrevocable.

     Section 12.5 Confidentiality.

     (a) Each Seller Party and each Purchaser shall maintain and shall cause each of its employees
and officers to maintain the confidentiality of this Agreement and the other confidential
proprietary information with respect to the Collateral Agent, the Managing Agent and the Conduit
Purchasers and their respective businesses obtained by it or them in connection with the
structuring, negotiating and execution of the transactions contemplated herein, except that such
Seller Party and such Purchaser and its officers and employees may disclose such information to
such Seller Party’s and such Purchaser’s external accountants and attorneys and as required
pursuant to any law, rule, regulation, direction, request or order of any judicial, administrative
or regulatory authority or proceedings (whether or not having the force or effect of law).

     (b) The Collateral Agent, each Managing Agent and each Purchaser shall maintain and shall
cause each of its employees and officers to maintain the confidentiality of any material nonpublic
information with respect to the Seller Parties (the “Information”); provided, that each
Seller Party hereby consents to the disclosure of Information (i) to the Collateral Agent, the
Managing Agents, the Committed Purchasers or the Conduit Purchasers by each other and (ii) by the
Collateral Agent, any Managing Agent or any Purchaser to: (A) any prospective or actual assignee or
participant of any of them, provided, that

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each such Person has been informed of the confidential nature of such Information and has
agreed, pursuant to an agreement containing provisions substantially similar to this Section, to
keep such Information confidential, (B) any rating agency then rating the Commercial Paper of any
Conduit Purchaser, (C) any Commercial Paper dealer or provider of a surety, guaranty or credit or
liquidity enhancement to a Conduit Purchaser or any entity organized for the purpose of purchasing,
or making loans secured by, financial assets for which any Managing Agent or one of its Affiliates
acts as the administrator, administrative agent or collateral agent, provided, that each such
Person has been informed of the confidential nature of such Information and has agreed to keep such
Information confidential, (D) any officers, directors, employees, outside accountants and attorneys
of the Collateral Agent, any Managing Agent or any Purchaser (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), or (E) pursuant to any law, rule, regulation,
direction, request or order of any judicial, administrative or regulatory authority or proceedings
(whether or not having the force or effect of law); provided, that to the extent permitted by
applicable law or regulation, each of the Collateral Agent, each Managing Agent and each Purchaser
agrees to notify the Seller Parties prior to (if reasonably practicable) or concurrently with its
disclosure of such Information pursuant to Section 12.5(b)(i)(A) or Section 12.5(b)(i)(E) of this
Agreement. Each of the Collateral Agent, each Managing Agent and each Purchaser acknowledges that
it has developed compliance procedures regarding the use of material nonpublic information in
accordance with applicable law, including United States federal and state securities laws.

     Section 12.6 Bankruptcy Petition. Each of Seller, the Servicer, the Collateral Agent,
the Managing Agents and each Committed Purchaser hereby covenants and agrees that, prior to the
date that is one year and one day after the payment in full of all outstanding senior Indebtedness
of a Conduit Purchaser, it will not institute against, or join any other Person in instituting
against, such Conduit Purchaser, any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings or other similar proceeding under the laws of the United States or any
state of the United States.

     Section 12.7 Limitation of Liability; Limitation of Payment; No Recourse.

     (a) Notwithstanding any provisions contained in this Agreement or any other Transaction
Document to the contrary, no Conduit Purchaser shall be obligated to pay any amount pursuant to
this Agreement or any other Transaction Document unless such Conduit Purchaser has excess cash flow
from operations or has received funds which may be used to make such payment and which funds or
excess cash flow are not required to repay any of such Conduit Purchaser’s Commercial Paper when
due. Any amount which any Conduit Purchaser does not pay pursuant to the operation of the preceding
sentence shall not constitute a claim against such Conduit Purchaser for any such insufficiency but
shall continue to accrue. Each party hereto agrees that the payment of any claim (as defined in
Section 101 of Title 11, United States Code (Bankruptcy)) of any such party shall be subordinated
to the payment in full of all obligations of such Conduit Purchaser in respect of Commercial Paper.
The agreements in this section shall survive the termination of this Agreement and the other
Transaction Documents.

     (b) Notwithstanding anything in this Agreement or any other Transaction Document to the
contrary, the obligations of each Conduit Purchaser under the Transaction Documents are solely the
corporate obligations of such Conduit Purchaser. No recourse shall be had for any obligation or
claim arising out of or based upon any Transaction Document against any stockholder, employee,
officer, director, incorporator, trustee, grantor, noteholder, member, manager or agent of such
Conduit Purchaser. The agreements in this section shall survive the termination of this Agreement
and the other Transaction Documents.

     (c) Each party hereto acknowledges and agrees that JS Siloed Trust is a Delaware statutory
trust and that all obligations which JS Siloed Trust has or may in the future have to any party to
this

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Agreement are obligations and liabilities solely of the series of JS Siloed Trust, as a
Delaware statutory trust, as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the
Delaware Code, 12 Del.Code § 3801 et seq., which has been designated to hold the Purchaser
Interests and related Obligations and not of JS Siloed Trust generally or any other series of such
trust and that any such obligations and liabilities may be satisfied solely from the assets of the
series of such trust which has been designated to hold the Purchaser Interest and related
Obligations. No recourse shall be had for the payment of any amount owing by JS Siloed Trust in
respect of any obligation or claim arising out of or based upon this Agreement against any Trustee
or any employee, officer, director, manager or authorized representative of any Trustee. For
purposes of this paragraph, the term “Trustee” shall mean and include any Person then
acting as a trustee for JS Siloed Trust (both in its individual capacity and in its capacity as
Trustee hereunder), including JPMorgan Chase Bank, N.A., as administrative trustee, and all
affiliates thereof and any employee, officer, director, incorporator, shareholder or beneficial
owner of any of them; provided, however, that JS Siloed Trust shall not be considered to be an
affiliate of any Trustee for purposes of this clause (c).

     (d) Except with respect to any claim arising out of the willful misconduct or gross negligence
of the Conduit Purchasers, the Managing Agents, the Collateral Agent, or any Committed Purchaser,
no claim may be made by any Seller Party or any other Person against any Conduit Purchaser, the
Collateral Agent or any Committed Purchaser or their respective Affiliates, directors, officers,
employees, attorneys or agents for any special, indirect, consequential or punitive damages in
respect of any claim for breach of contract or any other theory of liability arising out of or
related to the transactions contemplated by this Agreement, or any act, omission or event occurring
in connection therewith; and each Seller Party hereby waives, releases, and agrees not to sue upon
any claim for any such damages, whether or not accrued and whether or not known or suspected to
exist in its favor.

     Section 12.8 CHOICE OF LAW. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK EXCEPT TO
THE EXTENT THAT THE PERFECTION OF THE PURCHASERS’ SECURITY INTEREST IN THE PURCHASER INTERESTS IS
GOVERNED BY THE LAW OF ANOTHER STATE, AS REQUIRED BY THE LAWS OF THE STATE OF NEW YORK.

     Section 12.9 CONSENT TO JURISDICTION. EACH SELLER PARTY HEREBY IRREVOCABLY SUBMITS TO
THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN NEW
YORK, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
DOCUMENT EXECUTED BY SUCH PERSON PURSUANT TO THIS AGREEMENT AND EACH OF SELLER PARTY HEREBY
IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS
TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS
AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE COLLATERAL AGENT, THE MANAGING
AGENTS OR ANY PURCHASER TO BRING PROCEEDINGS AGAINST ANY SELLER PARTY IN THE COURTS OF ANY OTHER
JURISDICTION TO THE EXTENT NECESSARY TO REALIZE ON THE INTERESTS OF THE PURCHASERS AND THE
COLLATERAL AGENT IN ANY RECEIVABLES, RELATED SECURITY OR PROCEEDS THEREOF. ANY JUDICIAL PROCEEDING
BY ANY SELLER PARTY AGAINST THE COLLATERAL AGENT, ANY MANAGING AGENT OR ANY PURCHASER OR ANY
AFFILIATE OF ANY SUCH PARTIES INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT
OF, RELATED TO, OR

40

 

CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY SUCH SELLER PARTY PURSUANT TO THIS
AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

     Section 12.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN
ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY
DOCUMENT EXECUTED BY THE SELLER PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED
HEREUNDER OR THEREUNDER.

     Section 12.11 Integration; Binding Effect; Survival of Terms.

     (a) This Agreement and each other Transaction Document contain the final and complete
integration of all prior expressions by the parties hereto with respect to the subject matter
hereof and shall constitute the entire agreement among the parties hereto with respect to the
subject matter hereof superseding all prior oral or written understandings.

     (b) This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns (including any trustee in bankruptcy). This
Agreement shall create and constitute the continuing obligations of the parties hereto in
accordance with its terms and shall remain in full force and effect until terminated in accordance
with its terms; provided, however, that the rights and remedies with respect to (i)
any breach of any representation and warranty made by any Seller Party pursuant to Article IV, (ii)
the indemnification and payment provisions of Article IX, and Sections 12.5 and 12.6 shall be
continuing and shall survive any termination of this Agreement.

     Section 12.12 Counterparts; Severability; Section References. This Agreement may be
executed in any number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same Agreement. Any provisions of this Agreement which are
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. Unless otherwise expressly
indicated, all references herein to “Article,” “Section,” “Schedule” or “Exhibit” shall mean
articles and sections of, and schedules and exhibits to, this Agreement.

     Section 12.13 Agent Roles.

     (a) JPMorgan Chase Roles. Each of the Committed Purchasers acknowledges that JPMorgan
Chase acts, or may in the future act, (i) as administrative agent or administrative trustee for one
or more of the Conduit Purchasers, (ii) as Managing Agent for one or more of the Conduit
Purchasers, (iii) as issuing and paying agent for one or more Conduit Purchaser’s Commercial Paper,
(iv) to provide credit or liquidity enhancement for the timely payment for one or more Conduit
Purchaser’s Commercial Paper and (v) to provide other services from time to time for some or all of
the Purchasers (collectively, the “JPMorgan Chase Roles”). Without limiting the generality
of this Section 12.13(a), each Committed Purchaser hereby acknowledges and consents to any and all
JPMorgan Chase Roles and agrees that in connection with any JPMorgan Chase Role, JPMorgan Chase may
take, or refrain from taking, any action that it, in its discretion, deems appropriate, including,
without limitation, in its role as administrative agent or administrative trustee for the related
Conduit Purchasers, and the giving of notice of a mandatory purchase pursuant its Liquidity
Agreement.

41

 

     (b) Managing Agent Institution Roles. Each of the Committed Purchasers acknowledges
that each Committed Purchaser that serves as a Managing Agent hereunder (a “Managing Agent
Institution”) acts, or may in the future act, (i) as Managing Agent for a Conduit Purchaser or
Conduit Purchasers, (ii) as issuing and paying agent for such Conduit Purchaser’s Commercial Paper,
(iii) to provide credit or liquidity enhancement for the timely payment for such Conduit
Purchaser’s Commercial Paper and (iv) to provide other services from time to time for some or all
of the Purchasers (collectively, the “Managing Agent Institution Roles”). Without limiting
the generality of this Section 12.13(b), each Committed Purchaser hereby acknowledges and consents
to any and all Managing Agent Institution Roles and agrees that in connection with any Managing
Agent Institution Role, the applicable Managing Agent Institution may take, or refrain from taking,
any action that it, in its discretion, deems appropriate, including, without limitation, in its
role as administrative agent for the related Conduit Purchasers, if any, and the giving of notice
to the Collateral Agent or any Managing Agent of a mandatory purchase pursuant to its Liquidity
Agreement.

     Section 12.14 Characterization.

     (a) It is the intention of the parties hereto that each purchase hereunder shall constitute
and be treated as an absolute and irrevocable sale, which purchase shall provide the applicable
Purchaser with the full benefits of ownership of the applicable Purchaser Interest. Except as
specifically provided in this Agreement, each sale of a Purchaser Interest hereunder is made
without recourse to Seller; provided, however, that (i) Seller shall be liable to
each Purchaser and the Collateral Agent for all representations, warranties and covenants made by
Seller pursuant to the terms of this Agreement, and (ii) such sale does not constitute and is not
intended to result in an assumption by any Purchaser or the Collateral Agent or any assignee
thereof of any obligation of Seller, CGSF or the Originator or any other person arising in
connection with the Receivables, the Related Security, or the related Contracts, or any other
obligations of Seller, CGSF or the Originator.

     (b) The Seller hereby grants to the Collateral Agent for the ratable benefit of the Purchasers
a valid and perfected security interest in all of Seller’s right, title and interest in, to and
under all Receivables now existing or hereafter arising, the Collections, each Collection Account,
all Related Security, all other rights and payments relating to such Receivables, all of Seller’s
rights under the Receivables Sale Agreements and all proceeds of any thereof to secure the prompt
and complete payment of the Aggregate Unpaids. After an Amortization Event, the Collateral Agent
and the Purchasers shall have, in addition to the rights and remedies that they may have under this
Agreement, all other rights and remedies provided to a secured creditor after default under the UCC
and other applicable law, which rights and remedies shall be cumulative. The Seller represents and
warrants that each remittance of Collections to the Collateral Agent, any Managing Agent or any
Purchaser hereunder has been (i) in payment of a debt incurred in the ordinary course of its
business or financial affairs and (ii) made in the ordinary course of its business or financial
affairs.

     Section 12.15 Amendment and Restatement; Consent to Amendment of Receivables Sale
Agreements. This Agreement amends, restates and supersedes in its entirety the Original RPA and
shall not constitute a novation thereof. It is the intent of each of the parties hereto that all
references to the Original RPA in any Transaction Document to which such party is a party and which
becomes or remains effective on or after the date hereof shall be deemed to mean and be references
to this Agreement. By its signature hereto, the Collateral Agent and each Managing Agent consents
to the terms of the Second Amended and Restated Receivables Sale Agreement of even date herewith
between McKesson Corporation, as seller and California Golden State Finance Company, as buyer and
the Second Amended and Restated Receivables Sale Agreement of even date herewith between California
Golden State Finance Company, as seller and the Seller, as buyer.

42

 

     Section 12.16 Federal Reserve. Notwithstanding any other provision of this Agreement
to the contrary, any Committed Purchaser may at any time pledge or grant a security interest in all
or any portion of its rights (including, without limitation, any Purchaser Interest and any rights
to payment of Capital and Yield) under this Agreement to secure obligations of such Committed
Purchaser to a Federal Reserve Bank, without notice to or consent of the Seller or the Collateral
Agent; provided that no such pledge or grant of a security interest shall release a Committed
Purchaser from any of its obligations hereunder, or substitute any such pledgee or grantee for such
Committed Purchaser as a party hereto.

     Section 12.17 USA PATRIOT Act. Each Committed Purchaser that is subject to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”) hereby notifies the Seller Parties that pursuant to the requirements of
the Act, it is required to obtain, verify and record information that identifies each Seller Party,
which information includes the name and address of each Seller Party and other information that
will allow such Committed Purchaser to identify each Seller Party in accordance with the Act.

43

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their duly authorized officers as of the date hereof.

	 	 	 	 	 
	 	CGSF FUNDING CORPORATION,

as the Seller

 	 
	 	By:  	/s/ Nicholas Loiacono
 	 
	 	 	Name:  	Nicholas Loiacono 	 
	 	 	Title:  	President 	 
	 
	 	McKESSON CORPORATION,

as the Servicer

 	 
	 	By:  	/s/ Willie Bogan
 	 
	 	 	Name:  	Willie Bogan 	 
	 	 	Title:  	Secretary 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

1

 

	 	 	 	 	 
	 	JS SILOED TRUST,

as a Conduit Purchaser

 	 
	 	By:  	JPMorgan Chase Bank, N.A., not in its
 	 
	 	 	individual capacity but solely as administrative 	 
	 	 	trustee 	 
	 
	 	 	 
	 	By:  	                                                   /s/ John M. Kuhns
 	 
	 	 	Name:  	John M. Kuhns 	 
	 	 	Title:  	Executive Director 	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Committed Purchaser, a Managing Agent

and as Collateral Agent

 	 
	 	By:  	/s/ John M. Kuhns
 	 
	 	 	Name:  	John M. Kuhns 	 
	 	 	Title:  	Executive Director 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

2

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as a Committed Purchaser and a Managing Agent

 	 
	 	By:  	/s/ Nina Austin
 	 
	 	 	Name:  	Nina Austin 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

3

 

	 	 	 	 	 
	 	LIBERTY STREET FUNDING LLC,

as a Conduit Purchaser

 	 
	 	By:  	/s/ Frank B. Bilotta
 	 
	 	 	Name:  	Frank B. Bilotta 	 
	 	 	Title:  	President 	 
	 
	 	THE BANK OF NOVA SCOTIA,

as a Committed Purchaser and as Managing Agent

 	 
	 	By:  	/s/ Darren Ward
 	 
	 	 	Name:  	Darren Ward 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

4

 

	 	 	 	 	 
	 	GOTHAM FUNDING CORPORATION,

as a Conduit Purchaser

 	 
	 	By:  	/s/ David V. DeAngelis
 	 
	 	 	Name:  	David V. DeAngelis 	 
	 	 	Title:  	Vice President 	 
	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

NEW YORK BRANCH,

as a Managing Agent

 	 
	 	By:  	/s/ Ichinari Matsui
 	 
	 	 	Name:  	Ichinari Matsui 	 
	 	 	Title:  	SVP & Group Head 	 
	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

NEW YORK BRANCH,

as a Committed Purchaser

 	 
	 	By:  	/s/ Victor Pierzchalski
 	 
	 	 	Name:  	Victor Pierzchalski 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

5

 

	 	 	 	 	 
	 	NIEUW AMSTERDAM RECEIVABLES

CORPORATION, as a Conduit Purchaser

 	 
	 	By:  	/s/ Damian Perez
 	 
	 	 	Name:  	Damian Perez 	 
	 	 	Title:  	Vice President 	 
	 
	 	COOPERATIEVE CENTRALE RAIFFEISEN-

BOERENLEENBANK B.A., “RABOBANK

INTERNATIONAL”, NEW YORK BRANCH,

as a Committed Purchaser and a Managing Agent

 	 
	 	By:  	/s/ Christopher Lew
 	 
	 	 	Name:  	Christopher Lew 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                                   /s/Brett Delfino
 	 
	 	 	Name:  	Brett Delfino 	 
	 	 	Title:  	Executive Director 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

6

 

	 	 	 	 	 
	 	MARKET STREET FUNDING LLC,

as a Conduit Purchaser

 	 
	 	By:  	/s/ Doris J. Hearn
 	 
	 	 	Name:  	Doris J. Hearn 	 
	 	 	Title:  	Vice President 	 
	 
	 	PNC BANK, NATIONAL ASSOCIATION

as a Committed Purchaser and as Managing Agent

 	 
	 	By:  	/s/ William P. Falcon
 	 
	 	 	Name:  	William P. Falcon 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

7

 

	 	 	 	 	 
	 	BRYANT PARK FUNDING LLC,

as a Conduit Purchaser

 	 
	 	By:  	/s/ Damian Perez
 	 
	 	 	Name:  	Damian Perez 	 
	 	 	Title:  	Vice President 	 
	 
	 	HSBC SECURITIES (USA), INC.

as a Managing Agent

 	 
	 	By:  	/s/ Thomas Carroll
 	 
	 	 	Name:  	Thomas Carroll 	 
	 	 	Title:  	Director 	 
	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION

as a Committed Purchaser

 	 
	 	By:  	/s/ Jason Alexander Huck
 	 
	 	 	Name:  	Jason Alexander Huck 	 
	 	 	Title:  	Vice President Global Relationship Manager 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

8

 

	 	 	 	 	 
	 	FIFTH THIRD BANK,

as a Committed Purchaser and as Managing Agent

 	 
	 	By:  	/s/ Andrew D. Jones
 	 
	 	 	Name:  	Andrew D. Jones 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Third Amended and

Restated Receivables Purchase Agreement

9

 

EXHIBIT I

DEFINITIONS

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

     “Accrual Period” means each calendar month, provided that the initial Accrual Period
hereunder means the period from (and including) the date of the initial purchase hereunder to (and
including) the last day of the calendar month thereafter.

     “Adverse Claim” means a lien, security interest, charge or encumbrance, or other right
or claim in, of or on any Person’s assets or properties in favor of any other Person (other than
Permitted Liens).

     “Affected Committed Purchaser” has the meaning specified in Section 11.1(c).

     “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling, controlled by, or under direct or indirect common control with, such Person or any
Subsidiary of such Person. A Person shall be deemed to control another Person if the controlling
Person owns 10% or more of any class of voting securities of the controlled Person or possesses,
directly or indirectly, the power to direct or cause the direction of the management or policies of
the controlled Person, whether through ownership of stock, by contract or otherwise.

     “Aggregate Capital” means, at any time, the sum of all Capital of all Purchaser
Interests.

     “Aggregate Reduction” has the meaning specified in Section 1.3.

     “Aggregate Reserves” means, on any date of determination, the sum of the Loss Reserve,
the Discount and Servicing Fee Reserve and the Dilution Reserve.

     “Aggregate Unpaids” means, at any time, an amount equal to the sum of all Capital and
all other unpaid Obligations (whether due or accrued) at such time.

     “Agreement” means this Third Amended and Restated Receivables Purchase Agreement, as
it may be amended or modified and in effect from time to time.

     “Amortization Date” means the earliest to occur of (i) the day on which any of the
conditions precedent set forth in Section 5.2 are not satisfied, (ii) the Business Day immediately
prior to the occurrence of an Amortization Event set forth in Section 8.1(d), (iii) the Business
Day specified in a written notice from the Collateral Agent pursuant to Section 8.2 following the
occurrence of any other Amortization Event, and (iv) the date which is sixty (60) Business Days
after the Collateral Agent’s receipt of written notice from Seller that it wishes to terminate the
facility evidenced by this Agreement.

     “Amortization Event” has the meaning specified in Article VIII.

     “Applicable Margin” means, on any date and with respect to each funding made at the
LIBO Rate (x) by a Purchaser that is a member of a Bank Funding Purchaser Group, the rate per annum
set forth in the Fee Letter and (y) by a Purchaser that is a member of a CP Funding Purchaser
Group, 3.00% per annum.

     “Assignment Agreement” has the meaning set forth in Section 11.1(b).

I-1

 

     “Authorized Officer” shall mean, with respect to any Seller Party, its respective
corporate controller, treasurer, assistant treasurer, vice president-finance or chief financial
officer and, in addition, in the case of the Seller, its president so long as the president retains
the duties of a financial officer of the Seller.

     “Bank Funding Purchaser Group” means, each Purchaser Group listed on Schedule A hereto
as a “Bank Funding Purchaser Group”, or in any Assignment Agreement or Joinder Agreement as a “Bank
Funding Purchaser Group”, or which has been designated in writing to the Seller and the Agent as a
“Bank Funding Purchaser Group” by the Managing Agent thereof with the written approval of the
Seller (which approval shall not be unreasonably withheld).

     “Base Rate” means a fluctuating interest rate per annum as shall be in effect from
time to time, which rate shall at all times be equal to the highest of: (i) the Prime Rate plus
2.00%, (ii) the Federal Funds Rate plus 0.50% and (iii) the LIBO Rate for a Tranche Period of one
month plus 1.00%.

     “Broken Funding Costs” means for any Purchaser Interest which: (i) has its Capital
reduced without compliance by the Seller with the notice requirements hereunder or (ii) does not
become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (iii) is
assigned under Article XI or terminated prior to the date on which it was originally scheduled to
end; an amount equal to the excess, if any, of (A) Yield that would have accrued during the
remainder of the Tranche Periods determined by the Collateral Agent or the applicable Managing
Agent to relate to such Purchaser Interest (as applicable) subsequent to the date of such reduction
or termination (or in respect of clause (ii) above, the date such Aggregate Reduction was
designated to occur pursuant to the Reduction Notice) of the Capital of such Purchaser Interest if
such reduction, assignment or termination had not occurred or such Reduction Notice had not been
delivered, over (B) the sum of (x) to the extent all or a portion of such Capital is allocated to
another Purchaser Interest, the amount of Yield actually accrued during the remainder of such
period on such Capital for the new Purchaser Interest, and (y) to the extent such Capital is not
allocated to another Purchaser Interest, the income, if any, actually received during the remainder
of such period by the holder of such Purchaser Interest from investing the portion of such Capital
not so allocated. All Broken Funding Costs shall be due and payable hereunder upon demand.

     “Business Day” means any day on which banks are not authorized or required to close in
New York, New York, San Francisco, California or Chicago, Illinois and The Depository Trust Company
of New York is open for business, and, if the applicable Business Day relates to any computation or
payment to be made with respect to the LIBO Rate, any day on which dealings in dollar deposits are
carried on in the London interbank market.

     “Capital” of any Purchaser Interest means, at any time, (A) the Purchase Price of such
Purchaser Interest, minus (B) the sum of the aggregate amount of Collections and other
payments received by the Collateral Agent which in each case has been applied to reduce such
Capital in accordance with the terms and conditions of this Agreement; provided, that such
Capital shall be restored (in accordance with Section 2.5) in the amount of any Collections or
other payments so received and applied if at any time the distribution of such Collections or
payments are rescinded, returned or refunded for any reason.

     “CGSF” means California Golden State Finance Company, a California corporation.

     “Change of Control” means, (i) with respect to McKesson, the acquisition by any
Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of
Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934) of
51% or more of the outstanding shares of voting stock of McKesson and (ii) with respect the Seller
or CGSF, McKesson’s

I-2

 

failure to own, directly or indirectly, 100% of the issued and outstanding capital stock of
the applicable entity.

     “Collateral Agent” has the meaning set forth in the preamble to this Agreement.

     “Collection Account” means each concentration account, depositary account, lock-box
account or similar account in which any Collections are collected or deposited and which is listed
on Exhibit IV (as updated from time to time by written notice to the Collateral Agent pursuant to
Section 6.2(b)).

     “Collection Account Agreement” means an agreement substantially in the form of Exhibit
VI, or such other agreement in form and substance acceptable to the Collateral Agent, among the
Originator, Seller, the Collateral Agent and a Collection Bank.

     “Collection Bank” means, at any time, any of the banks holding one or more Collection
Accounts.

     “Collection Notice” means a notice, in substantially the form of Annex A to Exhibit
VI, from the Collateral Agent to a Collection Bank.

     “Collection Period” means each calendar month.

     “Collections” means, with respect to any Receivable, all cash collections and other
cash proceeds in respect of such Receivable, including, without limitation, all yield, finance
charges or other related amounts accruing in respect thereof and all cash proceeds of Related
Security with respect to such Receivable.

     “Commercial Paper” means promissory notes of any Conduit Purchaser issued by such
Conduit Purchaser in the commercial paper market.

     “Commitment” means, for each Committed Purchaser, the commitment of such Committed
Purchaser to purchase its Pro Rata Share of Purchaser Interests from (i) Seller and (ii) the
Conduit Purchasers, such Pro Rata Share not to exceed, in the aggregate, the amount set forth
opposite such Committed Purchaser’s name on Schedule A to this Agreement, as such amount may be
modified in accordance with the terms hereof.

     “Committed Purchaser” means, as to any Purchaser Group, each of the financial
institutions listed on Schedule A hereto as a “Committed Purchaser” for such Purchaser Group, or in
any Assignment Agreement or Joinder Agreement as a “Committed Purchaser” for the applicable
Purchaser Group, together with its respective successors and permitted assigns.

     “Concentration Limit” means, at any time, for any Obligor, the maximum amount of
Receivables owned by the Seller which may be owing from such Obligor, which at any time shall be
equal to such Obligor’s Standard Concentration Limit or Special Concentration Limit, as applicable
by definition to such Obligor; provided, that in the case of an Obligor and any Affiliate of such
Obligor, the Concentration Limit shall be calculated as if such Obligor and such Affiliate are one
Obligor.

     “Conduit Purchaser” means, as to any Purchaser Group, each of the Persons listed on
Schedule A hereto as a “Conduit Purchaser” for such Purchaser Group, or in any Assignment Agreement
or Joinder Agreement as a “Conduit Purchaser” for the applicable Purchaser Group, together with its
respective successors and permitted assigns. For purposes of this Agreement and each other
Transaction Document, the term “Conduit Purchaser” shall, as the context may require, include and
be a reference to (i) any

I-3

 

Person that acquires or maintains, directly or indirectly, an interest in a Purchaser Interest
hereunder and/or (ii) any Person that issues promissory notes in the commercial paper market to
enable a Person described in clause (i) hereof to acquire and maintain an interest in a Purchaser
Interest hereunder that is administered by the same Managing Agent as a Person described in clause
(i) hereof. As of the Effective Date, the “Conduit Purchaser” for the Purchaser Group for which
JPMorgan Chase acts as Managing Agent shall be JS Siloed Trust and Jupiter.

     “Contingent Obligation” of a Person means any agreement, undertaking or arrangement by
which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds
for the payment of, or otherwise becomes or is contingently liable upon, the obligation or
liability of any other Person, or agrees to maintain the net worth or working capital or other
financial condition of any other Person, or otherwise assures any creditor of such other Person
against loss, including, without limitation, any comfort letter, operating agreement, take-or-pay
contract or application for a letter of credit.

     “Contract” means, with respect to any Receivable, any and all instruments, agreements,
invoices or other writings pursuant to which such Receivable arises or which evidences such
Receivable.

     “CP Funding Purchaser Group” means, each Purchaser Group listed on Schedule A hereto
as a “CP Funding Purchaser Group”, or in any Assignment Agreement or Joinder Agreement as a “CP
Funding Purchaser Group”, or which has been designated in writing to the Seller and the Agent as a
“CP Funding Purchaser Group” by the Managing Agent thereof with the written approval of the Seller
(which approval shall not be unreasonably withheld).

     “CP Rate” means, with respect to a Conduit Purchaser for any Tranche Period, the per
annum rate equivalent to the weighted average cost (as determined by the related Managing Agent and
which shall include commissions of placement agents and dealers, incremental carrying costs
incurred with respect to Pooled Commercial Paper maturing on dates other than those on which
corresponding funds are received by such Conduit Purchaser, other borrowings by such Conduit
Purchaser (other than under any commercial paper program support agreement) and any other costs
associated with the issuance of Pooled Commercial Paper) of or related to the issuance of Pooled
Commercial Paper that are allocated, in whole or in part, by such Conduit Purchaser or its Managing
Agent to fund or maintain its Purchaser Interests during such Tranche Period; provided, however,
that if any component of such rate is a discount rate, in calculating the “CP Rate” for such
Conduit Purchaser for such Purchaser Interest for such Tranche Period, such Conduit Purchaser shall
for such component use the rate resulting from converting such discount rate to an interest-bearing
equivalent rate per annum.

     “Credit and Collection Policy” means Seller’s credit and collection policies and
practices relating to Contracts and Receivables existing on the date hereof and summarized in
Exhibit VIII hereto, as modified from time to time in accordance with this Agreement.

     “Daily Report” means a report, in form and substance mutually acceptable to the Seller
and the Managing Agents (appropriately completed), furnished by the Servicer to the Managing Agents
on each Business Day pursuant to Section 7.5, reflecting information for the second Business Day
immediately preceding such Business Day.

     “Debt Rating” means, with respect to any Person at any time, the then current rating
by S&P or Moody’s of such Person’s long-term public senior unsecured unsubordinated non-credit
enhanced debt.

     “Deemed Collections” means the aggregate of all amounts Seller shall have been deemed
to have received as a Collection of a Receivable. Seller shall be deemed (i) to have received a
Collection of a Receivable, to the extent of the applicable reduction, if at any time the
Outstanding Balance of any such

I-4

 

Receivable is either (x) reduced as a result of any defective or rejected goods or services,
any discount or any adjustment or otherwise by Seller (other than cash Collections on account of
the Receivables) or (y) reduced or canceled as a result of a setoff in respect of any claim by any
Person (whether such claim arises out of the same or a related transaction or an unrelated
transaction) or (ii) to have received a Collection in full of a Receivable if at any time any of
the representations or warranties in Article IV are no longer true with respect to such Receivable.

     “Defaulted Receivable” means a Receivable: (i) as to which the Obligor thereof has
taken any action, or suffered any event to occur, of the type described in Section 8.1(d) (as if
references to Seller Party therein refer to such Obligor); (ii) which, consistent with the Credit
and Collection Policy, would be written off Seller’s books as uncollectible, (iii) which has been
identified by Seller as uncollectible in accordance with the Credit and Collection Policy or (iv)
as to which any payment, or part thereof, remains unpaid for ninety one (91) days or more from the
original due date for such payment.

     “Default Fee” means with respect to any amount due and payable by Seller in respect of
any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such
unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Base Rate.

     “Default Proxy Ratio” means, as of the last day of any Collection Period, a fraction
(calculated as a percentage) equal to (i) the aggregate Outstanding Balance of all Receivables
(without duplication) which remain unpaid for more than sixty (60) but less than ninety-one (91) or
more days from the original due date at any time during the Collection Period then ending plus the
aggregate Outstanding Balance of all Receivables (without duplication) which, consistent with the
Credit and Collection Policy, were or should have been written off the Seller’s books as
uncollectible and are less than ninety (90) days old during such period plus the aggregate
Outstanding Balance of all Receivables (without duplication) with respect to which the related
Obligors are subject to a proceeding of the type described in Section 8.1(d) but which have not yet
been written off the Seller’s books as uncollectible, divided by (ii) the aggregate Outstanding
Balance of all Receivables generated during the Collection Period which ended three (3) Collection
Periods prior to such last day.

     “Delinquency Ratio” means, as of the last day of any Collection Period, a fraction
(calculated as a percentage) equal to (i) the aggregate Outstanding Balance of all Receivables that
were Delinquent Receivables at such time and as of the last day of the two (2) preceding Collection
Periods by (ii) the sum of the aggregate Outstanding Balance of all Receivables as of the last day
of each of such three (3) Collection Periods.

     “Delinquent Receivable” means a Receivable as to which any payment, or part thereof,
remains unpaid for sixty one (61) days or more from the original due date for such payment.

     “Designated Obligor” means an Obligor indicated by the Collateral Agent to Seller in
writing.

     “Dilution Horizon Ratio” means, as of any date as set forth in the most recent Monthly
Report, a ratio computed by dividing (i) the sum of (x) the aggregate of all Receivables generated
during the most recently ended Collection Period and (y) the product of 0.5 and the aggregate of
all Receivables generated during the previous Collection Period by (ii) the Net Receivables Balance
as of the last day of the most recently ended Collection Period.

     “Dilution Ratio” means, for any Collection Period, the ratio (expressed as a
percentage) computed as of the last day of such Collection Period by dividing (i) an amount equal
to the aggregate reductions in the Outstanding Balance of any Receivable as a result of any
Dilutions during such

I-5

 

Collection Period by (ii) the aggregate Outstanding Balance of all Receivables generated
during the previous Collection Period.

     “Dilution Reserve” means, on any date, an amount equal to (x) the greater of (i) 3%
and (ii) the Dilution Reserve Ratio then in effect times (y) the Net Receivables Balance as of the
close of business on the immediately preceding Business Day.

     “Dilution
Reserve Ratio” means, as of any date, an amount calculated as follows:

     DRR = [(2.25 x ADR) + [(HDR-ADR) x (HDR/ADR)]] x DHR

     where:

     DRR = the Dilution Reserve Ratio;

     ADR = the average of the Dilution Ratios for the past twelve Collection Periods;

     HDR = the highest average of the Dilution Ratios for any three consecutive Collection Periods
during the most recent twelve months; and

     DHR = the Dilution Horizon Ratio.

The Dilution Reserve Ratio shall be calculated monthly in each Monthly Report and such Dilution
Reserve Ratio shall, absent manifest error, be effective from the corresponding Monthly Settlement
Date until the next succeeding Monthly Settlement Date.

     “Dilutions” means, at any time, the aggregate amount of reductions or cancellations
described in clause (i) of the definition of “Deemed Collections”, other than (a) the
aggregate dollar amount of all reductions in the aggregate Outstanding Balance of all Receivables
resulting from discounts earned by Obligors due to payments made by such Obligors on account of
Receivables within their payment terms and (b) volume rebates.

     “Discount and Servicing Fee Reserve” means, on any date, the sum of (i) one and
one-half of one percent (1.5%) times the lower of the Net Receivables Balance and the Purchase
Limit as of the close of business on the immediately preceding Business Day plus (ii) the
average outstanding amount of accrued and unpaid Yield and fees during the preceding Collection
Period, such component to be calculated in each Monthly Report which component shall, absent
manifest error, become effective from the corresponding Monthly Settlement Date until the next
succeeding Monthly Settlement Date. The Collateral Agent shall estimate the component of the
Discount and Servicing Fee Reserve described in clause (ii) above for the period from the
initial purchase hereunder until the first Monthly Settlement Date.

     “Discount Rate” means the CP Rate, the LIBO Rate or the Base Rate, as applicable, with
respect to each Purchaser Interest.

     “Dollars”, “$” or “U.S.$” means United States dollars.

     “Earned Discounts” means, as of any date of determination, the sum of (a) the
aggregate dollar amount of all rebate accruals resulting from volume discounts earned by Obligors
for reasons other than payments made by such Obligors on account of Receivables within their
payment terms and (b) an

I-6

 

amount equal to the product of (i) 2.0% and (ii) the aggregate Outstanding Balance of all
Receivables (net of volume rebates).

     “Effective Date” means May 19, 2010.

     “Eligible Receivable” means, at any time, a Receivable:

     (i) the Obligor of which (a) if a corporation or other business organization, including
any sole proprietorship, is organized under the laws of the United States or any political
subdivision thereof and has its chief executive office in the United States;
provided, however, that nothing contained herein shall preclude any natural
person from providing a personal guarantee in favor of a corporation or other business
organization, including any sole proprietorship, with respect to any Receivable; (b) is not
an Affiliate of any of the parties hereto; and (c) is not a Designated Obligor,

     (ii) the Obligor of which is not an Obligor on Defaulted Receivables, the balance of
which exceeds twenty-five percent (25%) or more of such Obligor’s Receivables,

     (iii) which is not a Defaulted Receivable or a Delinquent Receivable,

     (iv) which (i) by its terms is due and payable within thirty (30) days of the original
billing date therefor and has not had its payment terms extended or (ii) is an Extended Term
Receivable,

     (v) which is an “account” within the meaning of Section 9-105 of the UCC of all
applicable jurisdictions,

     (vi) which is denominated and payable only in United States dollars in the United
States,

     (vii) which arises under a Contract in substantially the form of one of the form
contracts set forth on Exhibit IX hereto or otherwise approved by the Collateral Agent in
writing, which, together with such Receivable, is in full force and effect and constitutes
the legal, valid and binding obligation of the related Obligor enforceable against such
Obligor in accordance with its terms subject to no offset, rescission, counterclaim or other
defense,

     (viii) which arises under a Contract which (A) does not require the Obligor under such
Contract to consent to the transfer, sale or assignment of the rights and duties of Seller
under such Contract and (B) does not contain a confidentiality provision that purports to
restrict the ability of any Purchaser to exercise its rights under this Agreement.

     (ix) which arises under a Contract that contains an obligation to pay a specified sum
of money, contingent only upon the sale of goods or the provision of services by the
Originator, which goods shall have been sold and delivered and which services shall have
been fully performed,

     (x) which, together with the Contract related thereto, does not contravene any law,
rule or regulation applicable thereto (including, without limitation, any law, rule and
regulation relating to truth in lending, fair credit billing, fair credit reporting, equal
credit opportunity, fair debt collection practices and privacy) and with respect to which no
part of the Contract related thereto is in violation of any such law, rule or regulation,

     (xi) which satisfies in all material respects all applicable requirements of the Credit
and Collection Policy,

     (xii) which was generated in the ordinary course of Originator’s business pursuant to
duly authorized Contracts,

I-7

 

     (xiii) which arises solely from the sale of goods or the provision of services, within
the meaning of Section 3(c)(5) of the Investment Company Act of 1940, to the related Obligor
by Originator, and not by any other Person (in whole or in part),

     (xiv) which has been validly transferred by (a) the Originator to CGSF under the Tier
One Receivables Sale Agreement and (b) by CGSF to the Seller under the Tier Two Receivables
Sale Agreement, and

     (xv) in which the Collateral Agent has a valid and perfected security interest.

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

     “Extended Term Receivable” means a Receivable which by its terms is due and payable
more than thirty (30) but less than sixty-one (61) days after the original billing date therefor
and has not had its payment terms extended.

     “Extended Term Receivables Limit” means, at any time, with respect to all Extended
Term Receivables, an amount equal to the product of (i) 66.67% and (ii) the product of (A) the Loss
Reserve Floor at such time and (B) the Net Receivables Balance as at the last day of the most
recently ended Collection Period.

     “Facility Termination Date” means May 18, 2011, as such date may be extended from time
to time pursuant to, and in accordance with, Section 11.4 of this Agreement.

     “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum
equal for each day during such period equal to (a) the weighted average of the rates on overnight
federal funds transactions with members of the Federal Reserve System arranged by federal funds
brokers, as published for such day (or, if such day is not a Business Day, for the preceding
Business Day) by the Federal Reserve Bank of New York in the Composite Closing Quotations for U.S.
Government Securities; or (b) if such rate is not so published for any day which is a Business Day,
the average of the quotations at approximately 10:30 a.m. (Chicago time) for such day on such
transactions received by the Collateral Agent from three federal funds brokers of recognized
standing selected by it.

     “Fee Letter” means that certain Ninth Amended and Restated Fee Letter dated as of the
Effective Date among the Seller, the Originator, the Managing Agents and the Collateral Agent, as
it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

     “Finance Charges” means, with respect to a Contract, any finance, interest, late
payment charges or similar charges owing by an Obligor pursuant to such Contract.

     “Fitch” means Fitch, Inc. and any successor thereto.

     “Funding Agreement” means this Agreement and any agreement or instrument executed by
any Funding Source with or for the benefit of a Conduit Purchaser.

     “Funding Source” means (i) any Committed Purchaser or (ii) any insurance company, bank
or other funding entity providing liquidity, credit enhancement or back-up purchase support or
facilities to a Conduit Purchaser.

     “Government Receivable” means a Receivable, the Obligor of which is a government or a
governmental subdivision or agency.

I-8

 

     “Government Receivables Limit” means (a) during a Level 1 Ratings Period, the Standard
Concentration Limit or (b) during a Level 2 Ratings Period or a Level 3 Ratings Period, $0.

     “Incremental Purchase” means a purchase of one or more Purchaser Interests which
increases the total outstanding Capital hereunder.

     “Indebtedness” of a Person means such Person’s (i) obligations for borrowed money,
(ii) obligations representing the deferred purchase price of property or services (other than
accounts payable arising in the ordinary course of such Person’s business payable on terms
customary in the trade), (iii) obligations, whether or not assumed, secured by liens or payable out
of the proceeds or production from property now or hereafter owned or acquired by such Person, (iv)
obligations which are evidenced by notes, acceptances, or other instruments, (v) capitalized lease
obligations, (vi) net liabilities under interest rate swap, exchange or cap agreements, (vii)
Contingent Obligations and (viii) liabilities in respect of unfunded vested benefits under plans
covered by Title IV of ERISA.

     “Independent Director” shall mean a member of the Board of Directors of the Seller who
(i) is in fact independent, (ii) does not have any direct financial interest or any material
indirect financial interest in the Seller or any Affiliate of the Seller and (iii) is not connected
as an officer, employee, promoter, underwriter, trustee, partner, director of person performing
similar functions within the Seller, any Affiliate of the Seller or any Person with a material
direct or indirect financial interest in the Seller.

     “Joinder Agreement” has the meaning set forth in Section 11.3.

     “JPMorgan Chase” has the meaning set forth in the preamble to this Agreement.

     “JS Siloed Trust” means JS Siloed Trust, a Delaware statutory trust, together with its
successors and permitted assigns.

     “Jupiter” means Jupiter Securitization Company LLC, a Delaware limited liability
company, together with its successors and permitted assigns.

     “Level 1 Ratings Period” means any period of time during which McKesson has two of the
following Debt Ratings: (i) BBB- or higher by S&P, (ii) Baa3 or higher by Moody’s or (iii) BBB- or
higher by Fitch.

     “Level 2 Ratings Period” means any period of time, other than a Level 1 Ratings
Period, during which McKesson has two of the following Debt Ratings (i) BB or higher by S&P, (ii)
Ba2 or higher by Moody’s or (iii) BB or higher by Fitch.

     “Level 3 Ratings Period” means any period of time other than a Level 1 Ratings Period
or a Level 2 Ratings Period.

     “LIBO Business Day” means a day of the year on which dealings in U.S. Dollar deposits
are carried on the London interbank market.

     “LIBO Rate” means,

     (A) with respect to any Committed Purchaser in a CP Funding Purchaser Group, for any Tranche
Period, the rate per annum equal to the sum of (i) (x) a rate of interest determined by a Managing
Agent equal to the offered rate for deposits in Dollars, with a maturity comparable to such Tranche
Period, appearing on Reuters Screen LIBOR01 (or any such screen as may replace such screen on such

I-9

 

service or any successor to or substitute for such service, providing rate quotations
comparable to those currently provided by such service, as determined by the related Managing Agent
from time to time for purposes of providing quotations of interest rates applicable to deposits in
Dollars in the London interbank market) at approximately 11:00 a.m., London time, on the second
Business Day before the first day of such Tranche Period. In the event that such rate is not
available at such time for any reason, then the “LIBO Rate” for such Tranche Period shall be the
rate at which deposits in Dollars in a principal amount which approximates the portion of the
Capital of the Purchaser Interest to be funded or maintained (but not less than $1,000,000) and for
a maturity comparable to such Tranche Period are offered by the related Reference Bank in
immediately available funds in the London interbank market at approximately 11:00 a.m., London
time, on the second Business Day before (and for value on) the first day of such Tranche Period,
divided by (y) one minus the reserve percentage applicable two Business Days before
the first day of such Tranche Period under regulations issued from time to time by the Board of
Governors of the Federal Reserve System (or any successor) (or, if more than one such percentage
shall be applicable, the daily average of such percentages for those days in such Tranche Period
during which any such percentage shall be so applicable) for determining the maximum reserve
requirement (including, without limitation, any emergency, supplemental or other marginal reserve
requirement) with respect to liabilities or assets consisting of or including Eurocurrency
Liabilities (or with respect to any other category of liabilities that includes deposits by
reference to which the interest rate on Eurocurrency Liabilities is determined) having a term equal
to such Tranche Period plus (ii) the Applicable Margin, rounded, if necessary, to the next
higher 1/16 of 1%; or

     (B) with respect to any Committed Purchaser in a Bank Funding Purchaser Group, on any day
during a Tranche Period, the rate per annum equal to the sum of (i) LMIR for such day plus
(ii) the Applicable Margin, rounded, if necessary, to the next higher 1/16 of 1%.

     “Liquidity Agreement” means an agreement entered into by a Conduit Purchaser with one
or more financial institutions in connection herewith for the purpose of providing liquidity with
respect to the Capital funded by such Conduit Purchaser under this Agreement.

     “LMIR” means, for any day, the one-month “Eurodollar Rate” for deposits in Dollars as
reported on Reuters Screen LIBOR01 Page or any other page that may replace such page from time to
time for the purpose of displaying offered rates of leading banks for London interbank deposits in
United States dollars, as of 11:00 a.m. (London time) on such date, or if such day is not a
Business Day, then the immediately preceding Business Day (or if not so reported, then as
determined by the relevant Managing Agent from another recognized source for interbank quotation),
in each case, changing when and as such rate changes.

     “Lock-Box” means a locked postal box maintained by McKesson, in its capacity as
Servicer with respect to which a bank who has executed a Collection Account Agreement has been
granted exclusive access for the purpose of retrieving and processing payments made on the
Receivables and which is listed on Exhibit IV (as updated from time to time by written notice to
the Collateral Agent pursuant to Section 6.2(b)).

     “Loss Horizon Ratio” means, for any Collection Period, a fraction (calculated as a
percentage) computed by dividing (i) the aggregate Outstanding Balance of all Receivables generated
during the four and one-half most recently ended Collection Periods by (ii) the Net Receivables
Balance as at the last day of the most recently ended Collection Period.

     “Loss Reserve” means, on any date, an amount equal to (x) the greater of (i) the Loss
Reserve Floor at such time and (ii) the Loss Reserve Ratio then in effect times (y) the Net
Receivables Balance as of the close of business on the immediately preceding Business Day.

I-10

 

     “Loss Reserve Floor” means 29%.

     “Loss-to-Balance Ratio” means, as of the last day of any Collection Period, a
percentage equal to (i) the aggregate amount of Receivables which were Defaulted Receivables as of
the last day of such Collection Period and as of the last day of the two (2) preceding Collection
Periods plus, without duplication, the dollar amount of Receivables less than ninety (90)
days past due which were written off as uncollectible during such three Collection Periods,
divided by (ii) the sum of the aggregate Outstanding Balance of all Receivables as of the
last day of such three (3) Collection Periods.

     “Loss
Reserve Ratio” means, as of any date, an amount calculated as follows:

	 	 	 	 	 

	     LRR

	 	=
	 	2.25 x DPR x LHR
	 
	 	 	 	 
	     where
	 	 	 	 
	 
	 	 	 	 
	     LRR

	 	=
	 	the Loss Reserve Ratio;
	 
	 	 	 	 
	     DPR

	 	=
	 	the highest average of the Default Proxy Ratios for any three consecutive
Collection Periods during the most recent twelve months; and
	 
	 	 	 	 
	     LHR

	 	=
	 	the Loss Horizon Ratio.

The Loss Reserve Ratio shall be calculated monthly in each Monthly Report and such Loss Reserve
Ratio shall, absent manifest error, be effective from the corresponding Monthly Settlement Date
until the next succeeding Monthly Settlement Date.

     “Managing Agent” means, as to any Purchaser Group, each of the Persons listed on
Schedule A hereto as a “Managing Agent” for such Purchaser Group, or in any Assignment Agreement or
Joinder Agreement as a “Managing Agent” for the applicable Purchaser Group, together with its
respective successors and permitted assigns.

     “Material Adverse Effect” means a material adverse effect on (i) the financial
condition or operations of any Seller Party and its Material Subsidiaries (except as otherwise
disclosed to or discussed with the Managing Agents prior to the date hereof), (ii) the ability of
any Seller Party to perform its obligations under this Agreement, (iii) the legality, validity or
enforceability of this Agreement or any other Transaction Document, (iv) any Purchaser’s interest
in the Receivables generally or in any significant portion of the Receivables, the Related Security
or the Collections with respect thereto, or (v) the collectibility of the Receivables generally or
of any material portion of the Receivables; provided, that the insolvency of, or any other
event with respect to, any Obligor or Obligors which results in the Eligible Receivables from such
Obligor or Obligors ceasing to be Eligible Receivables shall not be deemed to have a “Material
Adverse Effect” so long as (x) immediately after giving effect to such insolvency or event, as
applicable, the Net Receivables Balance less the Aggregate Reserves equals or exceeds the Aggregate
Capital, and (y) such insolvency or event, as applicable, does not materially adversely affect the
ability of the initial Servicer to perform its obligations and duties under this Agreement.

     “Material Subsidiary” means, at any time, any Subsidiary of McKesson having at such
time ten percent (10%) or more of McKesson’s consolidated total (gross) revenues for the preceding
four fiscal quarter period, as of the last day of the preceding fiscal quarter based upon
McKesson’s most recent annual or quarterly financial statements delivered to the Collateral Agent
and the Managing Agents under Section 6.1(a).

     “McKesson” has the meaning set forth in the preamble to this Agreement.

I-11

 

     “Monthly Report” means a report, in substantially the form of Exhibit X-1 hereto
(appropriately completed), furnished by the Servicer to the Managing Agents pursuant to Section
7.5.

     “Monthly Reporting Date” means the fifteenth (15) day of each month, or, if such day
is not a Business Day, the next succeeding Business Day.

     “Monthly Settlement Date” means the twentieth (20th) day of each
month, or, if such date is not a Business Day, the next succeeding Business Day.

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

     “Net Receivables Balance” means, at any time, the aggregate Outstanding Balance of all
Eligible Receivables at such time (net of all Earned Discounts and quarterly volume rebates then in
effect) reduced by (i) the aggregate amount by which the Outstanding Balance of all Eligible
Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor,
(ii) the aggregate amount by which the Outstanding Balance of all Government Receivables exceeds
the Government Receivables Limit and (iii) the aggregate amount by which the Outstanding Balance of
all Extended Term Receivables exceeds the Extended Term Receivables Limit.

     “Net Worth” means the sum of a capital stock and additional paid in capital
plus retained earnings (or minus accumulated deficits) of the Originator and its
Subsidiaries determined on a consolidated basis in conformity with generally accepted accounting
principles on such date.

     “Obligations” shall have the meaning set forth in Section 2.1.

     “Obligor” means a Person obligated to make payments pursuant to a Contract.

     “Originator” means McKesson, in its capacity as Seller under the Tier One Receivables
Sale Agreement.

     “Outstanding Balance” of any Receivable at any time means the then outstanding
principal balance thereof.

     “Permitted Liens” means liens, security interests, charges or encumbrances, or other
rights or claims in, of or on any Person’s assets or properties (i) in favor of Collateral Agent or
any Managing Agent or Purchaser, (ii) for taxes, fees, assessments or other governmental charges or
levies, either not delinquent or being contested in good faith by appropriate proceedings, (iii) of
materialmen, mechanics, warehousemen, carriers or employees or other similar Adverse Claims arising
by operation of law and securing obligations either not delinquent or being contested in good faith
by appropriate proceedings, (iv) consisting of deposits or pledges to secure the performance of
bids, trade contracts, leases, public or statutory obligations, or other obligations of a like
nature incurred in the ordinary course of business (other than for indebtedness), and (v) on
deposit accounts (and the contents thereof), in favor of the financial institution at which such
account is located, arising pursuant to such financial institution’s standard terms and conditions
governing such account.

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

     “Pooled Commercial Paper” means Commercial Paper notes of a Conduit Purchaser subject
to any particular pooling arrangement by such Conduit Purchaser but excluding Commercial Paper
issued by

I-12

 

a Conduit Purchaser for a tenor and in an amount specifically requested by any Person in
connection with any agreement effected by such Conduit Purchaser.

     “Potential Amortization Event” means an event which, with the passage of time or the
giving of notice, or both, would constitute an Amortization Event.

     “Prime Rate” means, with respect to any Purchaser Group, the rate of interest
announced publicly by the related Reference Bank from time to time as its prime or base rate (such
rate not necessarily being the lowest or best rate charged by such Reference Bank).

     “Proposed Reduction Date” has the meaning set forth in Section 1.3.

     “Pro Rata Share” means, for each Purchaser, as applicable, a fraction (expressed as a
percentage), the numerator of which is the Capital associated with such Purchaser and the
denominator of which is the Aggregate Capital.

     “Purchase Limit” means $1,350,000,000.

     “Purchase Notice” has the meaning set forth in Section 1.2.

     “Purchase Price” means, with respect to any Incremental Purchase of a Purchaser
Interest, the amount paid to Seller for such Purchaser Interest which shall not exceed the least of
(i) the amount requested by Seller in the applicable Purchase Notice, (ii) the unused portion of
the Purchase Limit on the applicable purchase date and (iii) the excess, if any, of the Net
Receivables Balance (less the Aggregate Reserves) on the applicable purchase date over the
aggregate outstanding amount of Capital determined as of the date of the most recent Monthly
Report, taking into account such proposed Incremental Purchase.

     “Purchaser” means any Conduit Purchaser or Committed Purchaser, as applicable.

     “Purchaser Group” means a group consisting of either (x) one or more Conduit
Purchasers, the related Committed Purchasers and the related Managing Agent or (y) one or more
Committed Purchasers and the related Managing Agent.

     “Purchaser Group Limit” means, for any Purchaser Group at any time, the aggregate
amount of the Commitments of the Committed Purchasers in such Purchaser Group at such time.

     “Purchaser Interest” means, at any time, an undivided percentage ownership interest
(computed as set forth below) associated with a designated amount of Capital, Discount Rate and
Tranche Period selected pursuant to the terms and conditions hereof in (i) each and every
Receivable, (ii) all Related Security with respect to the Receivables, and (iii) all Collections
with respect to, and other proceeds of the Receivables. Each such undivided percentage interest
shall equal:

	 	 	 	 	 
	 	 	C	 	 
	 	 	NRB - AR	 	 
	     where:
	 	 	 	 
	 
	 	 	 	 
	     C

	 	=
	 	the Capital associated with such Purchaser Interest
	 
	 	 	 	 
	     AR

	 	=
	 	Aggregate Reserves
	 
	 	 	 	 
	     NRB

	 	=
	 	the Net Receivables Balance.

I-13

 

Such undivided percentage ownership interest shall be initially computed on its date of purchase.
Thereafter, until its Amortization Date, each Purchaser Interest shall be automatically recomputed
(or deemed to be recomputed) on each day prior to its Amortization Date. The variable percentage
represented by any Purchaser Interest as computed (or deemed recomputed) as of the close of the
business day immediately preceding its Amortization Date shall remain constant at all times after
such Amortization Date.

     “Rating Agency” means each of S&P and Moody’s.

     “Receivable” means any indebtedness or obligations owed to Seller by an Obligor
(without giving effect to any transfer or conveyance hereunder) or in which the Seller has a
security interest or other interest, whether constituting an account, chattel paper, instrument or
general intangible, arising in connection with the sale of pharmaceutical and other products and
related services by the Originator to retail, chain and hospital pharmacies or drugstores and other
healthcare facilities, and any other entities engaged in the sale or provision of pharmaceutical
products and other products and related services, including, without limitation, the obligation to
pay any Finance Charges with respect thereto. Indebtedness and other rights and obligations arising
from any one transaction, including, without limitation, indebtedness and other rights and
obligations represented by an individual invoice, shall constitute a Receivable separate from a
Receivable consisting of the indebtedness and other rights and obligations arising from any other
transaction.

     “Receivables Dilution Ratio” means, as of the last day of any Collection Period, a
percentage equal to (i) the sum of (A) the aggregate amount of Dilutions plus (B) an amount
equal to the product of (x) 2.0% and (y) the aggregate Outstanding Balance of all Receivables (net
of volume rebates) plus (C) the amount of volume rebates during such Collection Period and
the two (2) preceding Collection Periods, divided by (ii) the sum of the aggregate
Outstanding Balance of all Receivables as of the last day of each of such three (3) Collection
Periods.

     “Receivables Sale Agreement” means (1) the Tier One Receivables Sale Agreement, or (2)
the Tier Two Receivables Sale Agreement, as applicable.

     “Records” means, with respect to any Receivable, all Contracts and other documents,
books, records and other information (including, without limitation, computer programs, tapes,
disks, punch cards, data processing software and related property and rights) relating to such
Receivable, any Related Security therefor and the related Obligor.

     “Reduction Notice” has the meaning set forth in Section 1.3.

     “Reference Bank” means, with respect to any Purchaser Group at any time, the Committed
Purchaser or Managing Agent in such Purchaser Group designated by the related Managing Agent to be
the “Reference Bank” for such Purchaser Group.

     “Reinvestment” has the meaning set forth in Section 2.2.

     “Related Security” means, with respect to any Receivable:

     (i) all of Seller’s interest in the inventory and goods (including returned or
repossessed inventory or goods), if any, the sale of which by Originator gave rise to such
Receivable, and all insurance contracts with respect thereto,

     (ii) all other security interests or liens and property subject thereto from time to
time, if any, purporting to secure payment of such Receivable, whether pursuant to the
Contract related

I-14

 

to such Receivable or otherwise, together with all financing statements and security
agreements describing any collateral securing such Receivable,

     (iii) all guaranties, insurance and other agreements or arrangements of whatever
character from time to time supporting or securing payment of such Receivable whether
pursuant to the Contract related to such Receivable or otherwise,

     (iv) all service contracts and other contracts and agreements associated with such
Receivable,

     (v) all Records related to such Receivable,

     (vi) all of Seller’s right, title and interest in, to and under the Receivables Sale
Agreements in respect of such Receivable, and

     (vii) all proceeds of any of the foregoing.

     “Required Capital Amount” means, as of any date of determination, an amount equal to
the Net Receivables Balance multiplied by 3%.

     “Required Committed Purchasers” means, at any time, Committed Purchasers with
Commitments in excess of 66-2/3% of the Purchase Limit.

     “Required Notice Period” means two Business Days.

     “Revolving Credit Agreement” means that certain Amended and Restated Credit Agreement,
dated as of June 8, 2007 among McKesson and McKesson Canada Corporation, as Borrowers, Bank of
America, N.A., as Administrative Agent, Bank of America, N.A. (acting through its Canada branch),
as Canadian Administrative Agent, JPMorgan Chase and Wachovia Bank, N.A., as Co-Syndication Agents,
Wachovia Bank, N.A., as L/C Issuer, Scotia and The Bank of Tokyo-Mitsubishi UFJ, Ltd., Seattle
Branch, as Co-Documentation Agents, the other Lenders party thereto and Banc of America Securities
LLC, as sole Lead Arranger and sole Book Manager (as amended, restated, supplemented or otherwise
modified from time to time) providing a five year revolving credit facility in favor of McKesson.

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

     “Seller” has the meaning set forth in the preamble to this Agreement.

     “Seller Interest” means, at any time, an undivided percentage ownership interest of
Seller in the Receivables, Related Security and all Collections with respect thereto equal to (i)
one, minus (ii) the aggregate of the Purchaser Interests.

     “Seller Parties” has the meaning set forth in the preamble to this Agreement.

     “Servicer” means at any time the Person (which may be the Collateral Agent) then
authorized pursuant to Article VIII to service, administer and collect Receivables.

     “Servicer Default” means any Amortization Event occurring with respect to the
Servicer.

     “Servicing Fee” has the meaning set forth in Section 7.6 of this Agreement.

     “Settlement Date” means (A) the Monthly Settlement Date and (B) the last day of the
relevant Tranche Period in respect of each Purchaser Interest.

I-15

 

     “Special Concentration Limit” means, at any time, with respect to any Special Obligor
(together with its Affiliates or subsidiaries), the product of (i) the applicable percentage set
forth below corresponding to Moody’s and S&P short-term debt ratings for such Special Obligor at
such time or such percentage as may be otherwise set forth below with respect to such Special
Obligor and (ii) the Net Receivables Balance at such time:

Special Obligors with ratings at or above:

	 	 	 	 	 	 	 
	S&P Rating	 	 	 	Moody’s Rating	 	Percentage
	A-1+
	 	and	 	P-1	 	14.50%
	A-1
	 	and	 	P-1	 	9.57%
	A-2 or lower or unrated
	 	and	 	P-2 or lower or unrated	 	7.25%

provided, that notwithstanding the foregoing grid:

     (a) (i) for so long as the short-term public debt rating of CVS/Caremark Corporation from S&P
is “A-2” or higher and “P-2” or higher from Moody’s, the Special Concentration Limit for
CVS/Caremark Corporation shall be 14.50%, (ii) for so long as the short-term public debt rating of
CVS/Caremark Corporation is “A-3” from S&P and “P-3” from Moody’s, the Special Concentration Limit
for CVS/Caremark Corporation shall be 9.57% and (iii) for so long as the short-term public debt
rating of CVS/Caremark Corporation is below “A-3” from S&P or below “P-3” from Moody’s or for so
long as CVS/Caremark Corporation is unrated by either S&P or Moody’s, the Special Concentration
Limit for CVS/Caremark Corporation shall be 7.25%;

     (b) (i) for so long as the short-term public debt rating of Safeway Inc. from S&P is “A-3” or
higher and from Moody’s is “P-3” or higher, the Special Concentration Limit for Safeway Inc. shall
be the product of (x) 9.57% and (y) the Net Receivables Balance at such time and (ii) for so long
as the short-term public debt rating of Safeway Inc. is below “A-3” from S&P or below “P-3” from
Moody’s, or if the public debt of Safeway Inc. is unrated by either of Moody’s or S&P, the Standard
Concentration Limit shall apply to such Obligor;

     (c) for so long as the short-term public debt rating of Wal-Mart Stores, Inc. from S&P is
“A-1+” or higher and from Moody’s is “P-1” or higher, the Special Concentration Limit for Wal-Mart
Stores, Inc. shall be the product of (x) 21.75% and (y) the Net Receivables Balance at such time;
and

provided, further, that any Managing Agent may, upon not less than five (5)
Business Days’ notice to Seller, cancel or reduce any Special Concentration Limit. In the event
that any Special Obligor is or becomes an Affiliate of another Special Obligor, the Special
Concentration Limit for such Special Obligors shall be calculated as if such Obligors were a single
Obligor in the same manner as contemplated under the definition of “Concentration Limit”.

     “Special Obligor” means Wal-Mart Stores, Inc., CVS/Caremark Corporation, Target
Corporation, Walgreen Co., Safeway, Inc. and such other Special Obligors as may be designated by
the Managing Agents from time to time.

     “Standard Concentration Limit” means, at any time, with respect to any Obligor other
than a Special Obligor, the product of (i) 4.35% and (ii) the Net Receivables Balance at such time.

     “Subsidiary” of a Person means (i) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or controlled, directly
or indirectly, by

I-16

 

such Person or by one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, or (ii) any partnership, association, joint venture or similar business organization
more than 50% of the ownership interests having ordinary voting power of which shall at the time be
so owned or controlled. Unless otherwise expressly provided, all references herein to a
“Subsidiary” shall mean a Subsidiary of Seller.

     “Terminating Committed Purchaser” has the meaning set forth in Section 11.5.

     “Terminating Tranche” has the meaning set forth in Section 3.3(b).

     “Termination Date” has the meaning set forth in Section 11.5.

     “Termination Percentage” means, with respect to any Terminating Committed Purchaser, a
percentage equal to (i) the Capital of such Terminating Committed Purchaser outstanding on its
respective Termination Date, divided by (ii) the Aggregate Capital outstanding on
such Termination Date.

     “Tier One Receivables Sale Agreement” means that certain Second Amended and Restated
Receivables Sale Agreement, dated as of May 19, 2010, between the Originator and CGSF, (as amended,
restated, supplemented or otherwise modified and in effect from time to time).

     “Tier Two Receivables Sale Agreement” means that certain Second Amended and Restated
Receivables Sale Agreement, dated as of May 19, 2010, between CGSF and the Seller, (as amended,
restated, supplemented or otherwise modified and in effect from time to time).

     “Total Capitalization” means, on any date, the sum of (a) Total Debt and (b) the Net
Worth on such date.

     “Total Debt” means, on any date, all “Indebtedness” (as such term is defined in the
Revolving Credit Agreement) of the Originator and its Subsidiaries determined on a consolidated
basis.

     “Tranche Period” means, with respect to any Purchaser Interest held by a Committed
Purchaser:

(a) if Yield for such Purchaser Interest is calculated on the basis of the LIBO Rate, (x)
with respect to a Committed Purchaser in a CP Funding Purchaser Group, a period of one, two,
three or six months, or such other period as may be mutually agreeable to the applicable
Managing Agent and Seller, commencing on a Business Day selected by Seller or such Managing
Agent pursuant to this Agreement. Such Tranche Period shall end on the day in the applicable
succeeding calendar month which corresponds numerically to the beginning day of such Tranche
Period, provided, however, that if there is no such numerically
corresponding day in such succeeding month, such Tranche Period shall end on the last
Business Day of such succeeding month; or (y) with respect to a Committed Purchaser in a
Bank Funding Purchaser Group, each Accrual Period; or

(b) if Yield for such Purchaser Interest is calculated on the basis of the Base Rate, a
period commencing on a Business Day selected by Seller and agreed to by the applicable
Managing Agent, provided no such period shall exceed one month.

If any Tranche Period would end on a day which is not a Business Day, such Tranche Period shall end
on the next succeeding Business Day, provided, however, that in the case of Tranche Periods
corresponding to the LIBO Rate, if such next succeeding Business Day falls in a new month, such
Tranche Period shall end on the immediately preceding Business Day. In the case of any Tranche
Period for any Purchaser

I-17

 

Interest of which commences before the Amortization Date and would otherwise end on a date
occurring after the Amortization Date, such Tranche Period shall end on the Amortization Date. The
duration of each Tranche Period which commences after the Amortization Date shall be of such
duration as selected by the applicable Managing Agent. In no event shall any Tranche Period extend
beyond the Facility Termination Date.

     “Transaction Documents” means, collectively, this Agreement, each Purchase Notice, the
Receivables Sale Agreements, each Collection Account Agreement, the Fee Letter, each Liquidity
Agreement and all other instruments, documents and agreements executed and delivered in connection
herewith.

     “UCC” means the Uniform Commercial Code as from time to time in effect in the
specified jurisdiction.

     “Weekly Report” means a report, in form and substance mutually acceptable to the
Seller and the Managing Agents (appropriately completed), furnished by the Servicer to the Managing
Agents on each Weekly Reporting Date pursuant to Section 7.5, reflecting information for the seven
(7) day period ending on the day immediately preceding such Weekly Reporting Date.

     “Weekly Reporting Date” means each Wednesday (or if such day is not a Business Day,
the next succeeding Business Day).

     “Yield” means for each respective Tranche Period relating to Purchaser Interests, an
amount equal to the product of the applicable Discount Rate for each Purchaser Interest
multiplied by the Capital of such Purchaser Interest for each day elapsed during such
Tranche Period, annualized on a 360 day basis.

     All accounting terms not specifically defined herein shall be construed in accordance with
generally accepted accounting principles. All terms used in Article 9 of the UCC in the State of
New York or California, as applicable, and not specifically defined herein, are used herein as
defined in such Article 9.

I-18

 

EXHIBIT II

FORM OF PURCHASE NOTICE

[Date]

[Insert Names and Addresses of Managing Agents]

Re: Purchase Notice

Ladies and Gentlemen:

     The undersigned refers to the Third Amended and Restated Receivables Purchase Agreement, dated
as of May 19, 2010 (the “Receivables Purchase Agreement,” the terms defined therein being
used herein as therein defined), among the undersigned, as Seller and McKesson Corporation, as
initial Servicer, the “Conduit Purchasers” from time to time party thereto, the “Committed
Purchasers” from time to time party thereto, the “Managing Agents” from time to time parties
thereto and JPMorgan Chase Bank, N.A., as Collateral Agent for the Purchasers, and hereby gives you
notice, irrevocably, pursuant to Section 1.2 of the Receivables Purchase Agreement, that the
undersigned hereby requests an Incremental Purchase under the Receivables Purchase Agreement, and
in that connection sets forth below the information relating to such Incremental Purchase (the
“Proposed Purchase”) as required by Section 1.2 of the Receivables Purchase Agreement:

          (i) The Business Day of the Proposed Purchase is [insert purchase date], which date is at
least two (2) Business Days after the date hereof.

          (ii) The requested Purchase Price in respect of the Proposed Purchase is $                    .

          (iii) If the Proposed Purchase to be funded by the Committed Purchasers, the requested
Discount Rate is                      and the requested Tranche Period is                     .

          (iv) The requested maturity date for the Tranche Period is                     .

          The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Purchase (before and after giving effect to the
Proposed Purchase):

          (i) the representations and warranties of the undersigned set forth in Section 5.1 of the
Receivables Purchase Agreement are true and correct on and as of the date of such Proposed Purchase
as though made on and as of such date;

          (ii) no event has occurred and is continuing, or would result from such Proposed Purchase,
that will constitute an Amortization Event or a Potential Amortization Event; and

          (iii) the Facility Termination Date shall not have occurred, the aggregate Capital of all
Purchaser Interests shall not exceed the Purchase Limit and the aggregate Receivable Interests
shall not exceed 100%.

II-1

 

	 	 	 	 	 
	 	Very truly yours,

CGSF FUNDING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

II-2

 

	 	 	 	 	 

EXHIBIT II-A

FORM OF REDUCTION NOTICE

[Date]

[Insert Names of Managing Agents]

     Re: Reduction Notice

Ladies and Gentlemen:

     Reference is hereby made to the Third Amended and Restated Receivables Purchase Agreement,
dated as of May 19, 2010, by and among CGSF Funding Corporation (the “Seller”), McKesson
Corporation, as servicer, the Conduit Purchasers from time to time party thereto, the Committed
Purchasers from time to time party thereto, the Managing Agents from time to time party thereto and
JPMorgan Chase Bank, N.A., as Collateral Agent (the “Receivables Purchase Agreement”).
Capitalized terms used herein shall have the meanings assigned to such terms in the Receivables
Purchase Agreement.

     The Managing Agents are hereby notified of the following Aggregate Reduction:

	 	 	 

	Aggregate Reduction:

	 	$[                    ]
	 
	 	 
	Proposed Reduction Date:

	 	[                    ]

     The Aggregate Reduction will be made in available funds (by 12:00 noon New York City
time) to: [Insert Names and Wiring Instructions for Managing Agents]

     After giving effect to such Aggregate Reduction made on the Proposed Reduction Date, the
Aggregate Capital is $[•].

	 	 	 	 	 
	 	Very truly yours,

CGSF FUNDING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

II-A-1

 

	 	 	 	 	 

EXHIBIT III

PLACES OF BUSINESS OF THE SELLER PARTIES;

LOCATIONS OF RECORDS;

FEDERAL EMPLOYER IDENTIFICATION NUMBER(S)

	 	 	 	 	 
	 	 	CGSF Funding Corporation	 	McKesson Corporation
	Principal Place of Business

	 	One Post Street
	 	One Post Street
	 

	 	San Francisco CA 94104
	 	San Francisco, CA 94104
	 
	 	 	 	 
	Location of Records

	 	One Post Street
	 	One Post Street
	 

	 	San Francisco, CA 94104
	 	San Francisco, CA 94104
	 
	 	 	 	 
	 

	 	Customer and Financial Services
	 	Customer and Financial Services
	 

	 	1220 Senlac Drive
	 	1220 Senlac Drive
	 

	 	Carrollton, TX 75006
	 	Carrollton, TX 75006
	 
	 	 	 	 
	FEIN

	 	94-3269972
	 	94-3207296

III-1

 

EXHIBIT IV

NAMES OF COLLECTION BANKS; COLLECTION ACCOUNTS

	 	 	 	 	 	 	 	 	 
	Bank Name	 	Account #	 	Type	 	Lock-Box #	 	Address
	Bank of America, N.A.

	 	 
	 	Dallas LB
	 	 
	 	P.O. Box 848442, Dallas, TX 75284
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.

	 	 	 	Chicago LB
	 	 	 	12748 Collections Center Drive

Chicago, IL 60693
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.

	 	 	 	Los Angeles LB
	 	 	 	File 57256, Los Angeles, CA 90074
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.

	 	 	 	Atlanta LB
	 	 	 	P.O. Box 409521, Atlanta, GA 30384
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wachovia Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Wells Fargo Bank, N.A.

	 	 	 	Electronic LB	 	 	 	 

IV-1

 

EXHIBIT V

FORM OF COMPLIANCE CERTIFICATE

To: [Insert Names of Managing Agents]

          This Compliance Certificate is furnished pursuant to that certain Third Amended and Restated
Receivables Purchase Agreement dated as of May 19, 2010 among CGSF Funding Corporation (the
“Seller”), McKesson Corporation (the “Servicer”), the “Conduit Purchasers” from
time to time party thereto, the “Committed Purchasers” from time to time party thereto, the
“Managing Agents” from time to time parties thereto and JPMorgan Chase Bank, N.A., as Collateral
Agent for the Purchasers (as amended, restated, supplemented or otherwise modified from time to
time, the “Agreement”).

     THE UNDERSIGNED HEREBY CERTIFIES THAT:

     1. I am the duly elected                      of Seller.

     2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under
my supervision, a detailed review of the transactions and conditions of Seller and its Subsidiaries
during the accounting period covered by the attached financial statements.

     3. The examinations described in paragraph 2 did not disclose, and I have no knowledge of, the
existence of any condition or event which constitutes an Amortization Event or Potential
Amortization Event, as each such term is defined under the Agreement, during or at the end of the
accounting period covered by the attached financial statements or as of the date of this
Certificate, except as set forth in paragraph 5 below.

     4. Schedule I attached hereto sets forth financial data and computations evidencing
the compliance with certain covenants of the Agreement, all of which data and computations are
true, complete and correct.

     5. Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the
nature of the condition or event, the period during which it has existed and the action which
Seller has taken, is taking, or proposes to take with respect to each such condition or event:

     [describe event(s)]

     The foregoing certifications, together with the computations set forth in Schedule I
hereto and the financial statements delivered with this Certificate in support hereof, are made and
delivered this day of ,                    .

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Name:  	 	 
	 	Title:  	 	 

V-1

 

	 	 	 	 	 

SCHEDULE I TO COMPLIANCE CERTIFICATE

A. Schedule of Compliance as of                     ,                      with Section                      of
the Agreement. Unless otherwise
defined herein, the terms used in this Compliance Certificate have the meanings ascribed thereto in
the Agreement.

This schedule relates to the month ended:                     

V-2

 

EXHIBIT VI

FORM OF COLLECTION ACCOUNT AGREEMENT

[On letterhead of Originator]

[Date]

[Lock-Box Bank/Concentration Bank/Depositary Bank]

     Re: McKesson Corporation

Ladies and Gentlemen:

     Reference is hereby made to P.O. Box #       in [city, state, zip
code] (the “Lock-Box”) of which you have exclusive control for the purpose of receiving
mail and processing payments therefrom pursuant to that certain [name of lock-box agreement]
between you and McKesson Corporation (the “Company”) dated        (the
“Agreement”). You hereby confirm your agreement to perform the services described therein.
Among the services you have agreed to perform therein, is to endorse all checks and other evidences
of payment, and credit such payments to the Company’s checking account no.       
maintained with you in the name of the Company (the “Lock-Box Account”).

     The Company hereby informs you that (i) pursuant to that certain Amended and Restated
Receivables Sale Agreement, dated as of June 11, 2004 between the Company and California Golden
State Finance Company (“CGSF”), the Company has transferred all of its right, title and
interest in and to, and exclusive ownership and control of, the Lock-Box and the Lock-Box Account
to CGSF, (ii) pursuant to that certain Amended and Restated Receivables Sale Agreement, dated as of
June 11, 2004 between CGSF and CGSF Funding Corporation (the “Seller”), CGSF has
transferred all of its right, title and interest in and to, and exclusive ownership and control of,
the Lock-Box and the Lock-Box Account to the Seller and (iii) pursuant to that certain Third
Amended and Restated Receivables Purchase Agreement, dated as of May 19, 2010 (the “RPA”)
among the Seller, the Company, the “Conduit Purchasers” from time to time party thereto, the
“Committed Purchasers” from time to time party thereto, the “Managing Agents” from time to time
party thereto and JPMorgan Chase Bank, N.A. (“JPMorgan Chase”), as collateral agent (in
such capacity, the “Collateral Agent”), the Seller has transferred all of its right, title
and interest in and to, and control of, the Lock-Box and the Lock-Box Account to JPMorgan Chase, as
Collateral Agent. The Company, CGSF and the Seller hereby request that the name of the Lock-Box
Account be changed to “CGSF Funding Corporation, an indirect subsidiary of McKesson Corporation.”

     The Company and the Seller hereby irrevocably instruct you, and you hereby agree, that upon
receiving notice from JPMorgan Chase in the form attached hereto as Annex A (the “Notice”),
you shall comply with instructions originated by JPMorgan Chase, as Collateral Agent, directing
disposition of the funds in the Lock-Box and the Lock-Box Account without further consent of either
the Company or the Seller. Notwithstanding the foregoing, the Collateral Agent hereby authorizes
you to take instructions from the Company or the Seller, on behalf of the Collateral Agent, with
respect to the funds delivered to the Lock-Box and/or on deposit in the Lock-Box Account until such
time as you receive the Notice. Following receipt of such Notice: (i) the name of the Lock-Box and
the Lock-Box Account will be changed to “JPMorgan Chase Bank, N.A., for itself and as Collateral
Agent” (or any designee of JPMorgan Chase) and the Collateral Agent will have exclusive ownership
of and access to the Lock-Box

VI-1

 

and the Lock-Box Account, and none of the Company, the Seller nor any of their respective
affiliates will have any control of the Lock-Box or the Lock-Box Account or any access thereto,
(ii) you will either continue to send the funds from the Lock-Box to the Lock-Box Account, or will
redirect the funds as the Collateral Agent may otherwise request, (iii) you will transfer monies on
deposit in the Lock-Box Account, at any time, as directed by the Collateral Agent, (iv) all
services to be performed by you under the Agreement will be performed on behalf of the Collateral
Agent, (v) you will not take any direction or instruction with respect to the Lock-Box, the
Lock-Box Account or any monies or funds on deposit therein under any circumstance from the Company,
the Seller or any affiliate thereof without the prior written consent of the Collateral Agent and
(vi) copies of all correspondence or other mail which you have agreed to send to the Company or the
Seller will be sent to the Collateral Agent at the following address:

JPMorgan Chase Bank, N.A.

Suite 0596, 21st Floor

1 Chase Plaza

Chicago, Illinois 60670

Attention: Credit Manager, Asset Backed

     Securities Division

     Moreover, upon such notice, JPMorgan Chase for itself and as Collateral Agent will have all
rights and remedies given to the Company (and CGSF and the Seller, as the Company’s assignees)
under the Agreement. The Company agrees, however, to continue to pay all fees and other assessments
due thereunder at any time.

     You hereby acknowledge that monies deposited in the Lock-Box Account or any other account
established with you by JPMorgan Chase for the purpose of receiving funds from the Lock-Box are
subject to the liens of JPMorgan Chase for itself and as Collateral Agent, and will not be subject
to deduction, set-off, banker’s lien or any other right you or any other party may have against the
Company or the Seller, except that you may debit the Lock-Box Account for any items deposited
therein that are returned or otherwise not collected and for all charges, fees, commissions and
expenses incurred by you in providing services hereunder, all in accordance with your customary
practices for the charge back of returned items and expenses.

     You hereby agree that you are a “bank” within the meaning of Section 9-102 of the Uniform
Commercial Code as is in effect in the State of New York (the “UCC”), that the Lock-Box Account
constitutes a “deposit account” within the meaning of Section 9-102 of the UCC and that this letter
agreement shall constitute an “authenticated record” for purposes of, and the Company and the
Seller hereby grant to and confer upon the Collateral Agent “control” of the Lock-Box Account as
contemplated in, Section 9-104 (and similar and related provisions) of the UCC. You hereby
represent that you have not entered into any agreement that grants to or confers upon any other
party control of the Lock-Box or the Lock-Box Account and you agree that you will not enter into
any such agreement during the term of this letter agreement.

     [The parties acknowledge that you may assign or transfer your rights and obligations hereunder
to a wholly-owned subsidiary of JPMorgan Chase & Co.]

     THIS LETTER AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER WILL BE GOVERNED
BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. This letter
agreement may be executed in any number of counterparts and all of such counterparts taken together
will be deemed to constitute one and the same instrument.

VI-2

 

     This letter agreement contains the entire agreement between the parties, and may not be
altered, modified, terminated or amended in any respect, nor may any right, power or privilege of
any party hereunder be waived or released or discharged, except upon execution by all parties
hereto of a written instrument so providing. In the event that any provision in this letter
agreement is in conflict with, or inconsistent with, any provision of the Agreement, this letter
agreement will exclusively govern and control. Each party agrees to take all actions reasonably
requested by any other party to carry out the purposes of this letter agreement or to preserve and
protect the rights of each party hereunder.

     Please indicate your agreement to the terms of this letter agreement by signing in the space
provided below. This letter agreement will become effective immediately upon execution of a
counterpart of this letter agreement by all parties hereto.

VI-3

 

	 	 	 	 	 
	 	Very truly yours,

MCKESSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CGSF FUNDING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Acknowledged and agreed to

this ___day of                     

[COLLECTION BANK]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

VI-4

 

	 	 	 	 	 

ANNEX A

FORM OF NOTICE

[On letterhead of JPMorgan Chase]

[Date]

[Name and Address of Collection Bank/Depositary Bank/Concentration Bank]

     Re: McKesson Corporation

Ladies and Gentlemen:

     We hereby notify you that we are exercising our rights pursuant to that certain letter
agreement among McKesson Corporation, CGSF Funding Corporation, you and us, to have the name of,
and to have exclusive ownership and control of, account number [___] (the “Lock-Box
Account”) maintained with you, transferred to us. [Lock-Box Account will henceforth be a
zero-balance account, and funds deposited in the Lock-Box Account should be sent at the end of each
day to                     .] You have further agreed to perform all other services you are performing
under that certain agreement dated [___] between you and McKesson Corporation on our behalf.

     We appreciate your cooperation in this matter.

	 	 	 	 	 
	 	Very truly yours,

JPMORGAN CHASE BANK, N.A.

(for itself and as Collateral Agent)

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

VI-5

 

	 	 	 	 	 

EXHIBIT VII

FORM OF ASSIGNMENT AGREEMENT

     THIS ASSIGNMENT AGREEMENT is entered into as of the [___] day of [[___, ___], by and between
___(“Seller”) and ___(“Purchaser”).

PRELIMINARY STATEMENTS

          A. This Assignment Agreement is being executed and delivered in accordance with Section
11.1(b) of that certain Third Amended and Restated Receivables Purchase Agreement dated as of May
19, 2010 by and among CGSF Funding Corporation, as Seller, McKesson Corporation, as Servicer, the
“Conduit Purchasers” from time to time party thereto, the “Committed Purchasers” from time to time
party thereto, the “Managing Agents” from time to time parties thereto and JPMorgan Chase Bank,
N.A., as Collateral Agent for the Purchasers (as amended, modified or restated from time to time,
the “Purchase Agreement”). Capitalized terms used and not otherwise defined herein are used
with the meanings set forth or incorporated by reference in the Purchase Agreement.

          B. The Seller is a Committed Purchaser party to the Purchase Agreement, and the Purchaser
wishes to become a Committed Purchaser thereunder; and

          C. The Seller is selling and assigning to the Purchaser an undivided ___% (the
“Transferred Percentage”) interest in all of Seller’s rights and obligations under the
Purchase Agreement and the Transaction Documents, including, without limitation, the Seller’s
Commitment, the Seller’s obligations under [describe applicable Liquidity Agreement] and (if
applicable) the Capital of the Seller’s Purchaser Interests as set forth herein;

     The parties hereto hereby agree as follows:

     1. This sale, transfer and assignment effected by this Assignment Agreement shall become
effective (the “Effective Date”) two (2) Business Days (or such other date selected by the
Collateral Agent in its sole discretion) following the date on which a notice substantially in the
form of Schedule II to this Assignment Agreement (“Effective Notice”) is delivered
by the Collateral Agent to the Conduit Purchasers, the Seller and the Purchaser. From and after the
Effective Date, the Purchaser shall be a Committed Purchaser party to the Purchase Agreement for
all purposes thereof as if the Purchaser were an original party thereto and the Purchaser agrees to
be bound by all of the terms and provisions contained therein.

     2. If the Seller has no outstanding Capital under the Purchase Agreement, on the Effective
Date, Seller shall be deemed to have hereby transferred and assigned to the Purchaser, without
recourse, representation or warranty (except as provided in paragraph 6 below), and the Purchaser
shall be deemed to have hereby irrevocably taken, received and assumed from the Seller, the
Transferred Percentage of the Seller’s Commitment and all rights and obligations associated
therewith under the terms of the Purchase Agreement, including, without limitation, the Transferred
Percentage of the Seller’s future funding obligations under Section 4.1 of the Purchase Agreement.

     3. If the Seller has any outstanding Capital under the Purchase Agreement, at or before 12:00
noon, local time of the Seller, on the Effective Date the Purchaser shall pay to the Seller, in
immediately available funds, an amount equal to the sum of (i) the Transferred Percentage of the
outstanding Capital of the Seller’s Purchaser Interests (such amount, being hereinafter referred to
as the “Purchaser’s Capital”); (ii) all accrued but unpaid (whether or not then due) Yield
attributable to the

VII-1

 

Purchaser’s Capital; and (iii) accruing but unpaid fees and other costs and expenses payable
in respect of the Purchaser’s Capital for the period commencing upon each date such unpaid amounts
commence accruing, to and including the Effective Date (the “Purchaser’s Acquisition
Cost”);

whereupon, the Seller shall be deemed to have sold, transferred and assigned to the Purchaser,
without recourse, representation or warranty (except as provided in paragraph 6 below), and the
Purchaser shall be deemed to have hereby irrevocably taken, received and assumed from the Seller,
the Transferred Percentage of the Seller’s Commitment and the Capital of the Seller’s Purchaser
Interests (if applicable) and all related rights and obligations under the Purchase Agreement and
the Transaction Documents, including, without limitation, the Transferred Percentage of the
Seller’s future funding obligations under Section 4.1 of the Purchase Agreement.

     4. Concurrently with the execution and delivery hereof, the Seller will provide to the
Purchaser copies of all documents requested by the Purchaser which were delivered to such Seller
pursuant to the Purchase Agreement.

     5. Each of the parties to this Assignment Agreement agrees that at any time and from time to
time upon the written request of any other party, it will execute and deliver such further
documents and do such further acts and things as such other party may reasonably request in order
to effect the purposes of this Assignment Agreement.

     6. By executing and delivering this Assignment Agreement, the Seller and the Purchaser confirm
to and agree with each other, the Collateral Agent and the Committed Purchasers as follows: (a)
other than the representation and warranty that it has not created any Adverse Claim upon any
interest being transferred hereunder, the Seller makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made by any other
Person in or in connection with the Purchase Agreement or the Transaction Documents or the
execution, legality, validity, enforceability, genuineness, sufficiency or value of the Purchaser,
the Purchase Agreement or any other instrument or document furnished pursuant thereto or the
perfection, priority, condition, value or sufficiency of any collateral; (b) the Seller makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Seller, any Obligor, any Seller Affiliate or the performance or observance by the Seller, any
Obligor, any Seller Affiliate of any of their respective obligations under the Transaction
Documents or any other instrument or document furnished pursuant thereto or in connection
therewith; (c) the Purchaser confirms that it has received a copy of the Transaction Documents,
together with such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment Agreement; (d) the Purchaser will,
independently and without reliance upon the Collateral Agent, the Conduit Purchasers, the Seller or
any other Committed Purchaser or Purchaser and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under the Purchase Agreement and the Transaction Documents; (e) the Purchaser appoints and
authorizes the Collateral Agent to take such action as collateral agent on its behalf and to
exercise such powers under the Transaction Documents as are delegated to the Collateral Agent by
the terms thereof, together with such powers as are reasonably incidental thereto; (f) the
Purchaser appoints and authorizes the Collateral Agent to take such action as collateral agent on
its behalf and to exercise such powers under the Transaction Documents as are delegated to the
Collateral Agent by the terms thereof, together with such powers as are reasonably incidental
thereto; and (g) the Purchaser agrees that it will perform in accordance with their terms all of
the obligations which, by the terms of the Purchase Agreement and the Transaction Documents, are
required to be performed by it as a Committed Purchaser or, when applicable, as a Purchaser.

VII-2

 

     7. Each party hereto represents and warrants to and agrees with the Collateral Agent that it
is aware of and will comply with the provisions of the Purchase Agreement, including, without
limitation, Sections 4.1 and 14.6 thereof.

     8. Schedule I hereto sets forth the revised Commitment of the Seller and the
Commitment of the Purchaser, as well as administrative information with respect to the Purchaser.

     9. THIS ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK.

     10. The Purchaser hereby covenants and agrees that, prior to the date which is one year and
one day after the payment in full of all senior indebtedness for borrowed money of the Conduits, it
will not institute against, or join any other Person in instituting against, any Conduit, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar
proceeding under the laws of the United States or any state of the United States.

     IN WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement to be executed by
their respective duly authorized officers of the date hereof.

	 	 	 	 	 
	 	[SELLER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[PURCHASER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

VII-3

 

	 	 	 	 	 

SCHEDULE I TO ASSIGNMENT AGREEMENT

LIST OF LENDING OFFICES, ADDRESSES

FOR NOTICES AND COMMITMENT AMOUNTS

Date:                    , ___

Transferred Percentage:                      %

	 	 	 	 	 	 	 	 	 
	 	 	A-1	 	A-2	 	B-1	 	B-2
	Seller
	 	Commitment
	 	Commitment
	 	Outstanding
	 	Ratable Share
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	[existing]
	 	[revised]
	 	Capital (if any)	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	A-1	 	B-1	 	B-2
	Purchaser
	 	 	 	Commitment
	 	Outstanding
	 	Ratable Share
	 
	 	 	 	 
	 	 
	 	 
	 
	 	 	 	[initial]
	 	Capital (if any)	 	 
	 
	 	 	 	 
	 	 
	 	 
	 
	 

The Assignee is a member of a [Bank][CP] Funding Purchaser Group.

Address for Notices

                    

                    

Attention:

Phone:

Fax:

VII-4

 

SCHEDULE II TO ASSIGNMENT AGREEMENT

EFFECTIVE NOTICE

	 	 	 

	TO:

	 	                    , Seller
	 

	 	                                        
	 

	 	                                        
	 

	 	                                        
	 
	TO:

	 	                    , Purchaser
	 

	 	                                        
	 

	 	                                        
	 

	 	                                        

     The undersigned, as Collateral Agent under the Third Amended and Restated Receivables Purchase
Agreement dated as of May 19, 2010 by and among CGSF Funding Corporation, as Seller, McKesson
Corporation, as Servicer, the “Conduit Purchasers” from time to time party thereto, the “Committed
Purchasers” from time to time party thereto, the “Managing Agents” from time to time parties
thereto and JPMorgan Chase Bank, N.A., as Collateral Agent for the Purchasers, hereby acknowledges
receipt of executed counterparts of a completed Assignment Agreement dated as of ___, ___between
___, as Seller, and ___, as Purchaser. Terms defined in such Assignment Agreement are used herein
as therein defined.

     1. Pursuant to such Assignment Agreement, you are advised that the Effective Date will be ___,
___.

     2. The Managing Agent, on behalf of the affected Conduits, hereby consents to the Assignment
Agreement as required by Section 12.1(b) of the Purchase Agreement.

VII-5

 

     [3. Pursuant to such Assignment Agreement, the Purchaser is required to pay $___to the Seller
at or before 12:00 noon (local time of the Seller) on the Effective Date in immediately available
funds.]

	 	 	 	 	 
	 	Very truly yours,

JPMORGAN CHASE BANK, N.A., individually and as Collateral Agent [and a Managing Agent]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 

VII-6

 

	 	 	 	 	 

EXHIBIT VIII

CREDIT AND COLLECTION POLICY

Summary of McKesson’s Credit Policy

     The Credit Department is responsible for maintaining a high quality of accounts
receivable while selling to all customers that represent prudent credit risks. We will provide
flexible mechanisms to protect our substantial receivable investment.

     The Credit Department reports to the office of CFO. Functions include administration of
Credit Risk, Credit Limit, Terms of Sale, Discount Policy, Service Charges and Late Fees, Returned
Payment, Customer Financing, Reserves for Doubtful Accounts, Bad Debt Write Offs and Recoveries,
and Monitoring Collection of Receivables including Legal Aspects of Collections.

VIII-1

 

EXHIBIT IX

FORM OF CONTRACT(S)

None.

IX-1

 

EXHIBIT X

FORM OF MONTHLY REPORT

CGSF Funding Corporation

Monthly Report as of                     
            , 20       

For                20         

For Purposes of preparing the report, all fields with blue font will be
automatically updated; all fields with red font require manual entry.

($ in ‘000)

	 	 	 	 	 
	 	 	Total	 
	I. Portfolio Information
	 	 	 	 
	Previous Month’s Ending Receivable Balance:
	 	 	 	 
	plus: Gross Sales (Aggregate Relevant Sales, Excluding
Volume Rebates Included in Sales)
	 	 	 	 
	minus: Cash Collections
	 	 	 	 
	minus: (Dilution) Returns and Allowances
	 	 	 	 
	minus: (Dilution) Rebates
	 	 	 	 
	minus: (Dilution) Other Dilution (reconciling items)
	 	 	 	 
	minus: (Dilution) Quarterly Cash Discounts
	 	 	 	 
	minus: Write-offs
	 	 	 	 
	 
	 	 	 
	Current Month’s Ending Receivable Balance:
	 	 	 	 
	 
	 	 	 

     Dilution applicable to reserve model:

     Dilution applicable to Dilution Ratio Trigger:

	 	 	 	 	 	 	 	 	 
	 	 	Total	 	 	Percentage	 
	II. Summary Aging Schedule
	 	 	 	 	 	 	 	 
	Current Receivables
	 	 	 	 	 	 	 	 
	1-30 days past due
	 	 	 	 	 	 	 	 
	31-60 days past due
	 	 	 	 	 	 	 	 
	61-90 days past due
	 	 	 	 	 	 	 	 
	90+ days past due
	 	 	 	 	 	 	 	 
	 	 	 
	Current Month’s Ending Receivable Balance:
	 	 	 	 	 	 	 	 
	 	 	 

	 	 	 	 	 
	 	 	Total	 
	III. Calculation of Eligible Receivables
	 	 	 	 
	Current Month’s Ending Receivable Balance (ERB) :
	 	 	 	 
	minus: 2% Discount for Payment Within Terms (min. calc.: ERB
* 2%)
	 	 	 	 
	minus: Accrued Customer Rebate Balance
	 	 	 	 
	minus: Non-US Receivables
	 	 	 	 

X-1

 

	 	 	 	 	 
	 	 	Total	 
	minus: Notes Receivable
	 	 	 	 
	minus: Receivables of Affiliates
	 	 	 	 
	minus: Cross-aged Receivables (Over 90 balance > 25% of
Total A/R for such obligor) (1)
	 	 	 	 
	minus: Receivables greater than 60 days past due
	 	 	 	 
	minus: Non-US $ Denominated Receivables
	 	 	 	 
	minus: Bankrupt Receivables not yet written off
	 	 	 	 
	minus: Receivables with terms greater than 60 days
	 	 	 	 
	minus: Receivables (< 60 days past due) subject to offset
	 	 	 	 
	minus: Customer Deposits (Prepayments)
	 	 	 	 
	minus: Billed Not Shipped Adjustment
	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Eligibility Bucket	 
	 	 	Total A/R	 	 	Eligibility % of NRB	 	 	in $	 
	Eligible Receivables (“ER”):
	 	 	 	 	 	 	 	 	 	 	 	 
	minus: Excess Obligor Concentration
Balances — see Schedule A
	 	 	 	 	 	 	 	 	 	 	 	 
	minus: Excess Government Receivables
	 	 	 	 	 	 	 	 	 	 	 	 
	minus: Excess Extended Terms
Receivables (based on A/R with 31-60
day terms)
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Net Receivable Balance (“NRB”)
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	% Value	 	 	$ Value	 
	IV. Calculations Reflecting Current Activity
	 	 	 	 	 	 	 	 
	Net Receivables Balance
	 	 	 	 	 	 	 	 
	minus: Loss Reserve Percentage times NRB (2)
	 	 	 	 	 	 	 	 
	minus: Dilution Reserve Percentage times NRB (3)
	 	 	 	 	 	 	 	 
	minus: Discount/Servicing Reserve Percentage (1.5%)
x the lesser of the Facility Limit or the NRB
	 	 	 	 	 	 	 	 
	Aggregate Reserves
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Available for Funding
	 	 	 	 	 	 	 	 
	Purchase Limit
	 	 	 	 	 	 	 	 
	Capital Outstanding
	 	 	 	 	 	 	 	 
	Receivables Interest (cannot be greater than 100%) (4)
	 	 	 	 	 	 	 	 

	 	 	 	 	 
	 	 	 	 	Compliance?
	V. Compliance
	 	 	 	 
	3-Month Average
Receivables
Dilution Ratio
(less than 10.00%)
(5)

	 	 	 	 
	 

	 	Current month dilution	 	 
	 

	 	One month prior dilution	 	 
	 

	 	Two month prior dilution	 	 
	 

	 	Current month ending balance	 	 

X-2

 

	 	 	 	 	 
	 	 	 	 	Compliance?
	 

	 	One month prior ending balance	 	 
	 

	 	Two months prior ending balance	 	 
	3-Month Average
Loss to Balance
Ratio (less than
1.50%) (6)
	 	 	 	 
	 

	 	Current month default	 	 
	 

	 	One month prior default	 	 
	 

	 	Two month prior default	 	 
	 

	 	Current month ending balance	 	 
	 

	 	One month prior ending balance	 	 
	 

	 	Two months prior ending balance	 	 
	3-Month Average
Delinquency Ratio
(less than 1.75%)
(7)
	 	 	 	 
	 

	 	Current month Delinquent Receivables	 	 
	 

	 	One month prior Delinquent Receivables	 	 
	 

	 	Two months prior Delinquent Receivables	 	 
	 

	 	Current month ending balance	 	 
	 

	 	One month prior ending balance	 	 
	 

	 	Two months prior ending balance	 	 
	Notice requirement
for change in
long-term public
senior debt rating.
	 	 	 	 

	 	 	 	 	 

	VI. Required Capital
	 	 	 	 
	3% of NRB =
	 	$	 	 

 

Notes:

			
	1.	 	A Receivable the Obligor of which is not an Obligor on Defaulted Receivables, the
balance of which exceeds twenty-five percent (25%) or more of such Obligor’s
Receivables.
	 
	2.	 	As calculated in Column W from the reserve model worksheet, the Dynamic Loss
Reserve Percentage is defined as the greater of (i) 2.25 X the Loss Ratio X the Loss
Horizon Ratio and (ii) 29%; where: a. Loss Ratio is defined as the greatest 3 month
rolling average Default Ratio during the prior 12 months; and b. Loss Horizon Ratio is
defined as the percentage equal to Aggregate Relevant Sales during the 4.5 prior months
(current month and each of the three prior months) divided by the Net Receivables
Balance for the current month.
	 
	3.	 	As calculated in Column X from the reserve model worksheet, Dynamic Dilution
Reserve Percentage is defined as the greater of: a. Expected Rolling Average Dilution
Ratio is defined as the average Rolling Average Dilution Ratio for the prior twelve
months; b. Dilution Spike is defined as the greatest Rolling Average Dilution Ratio
experienced during the prior twelve month period and c. Rolling Average Dilution
Horizon Ratio is defined as the current month’s sales divided by the Outstanding Net
Receivables Balance at the end of the current month.

	 	 	 	 	 	 	 

	4.

	 	Receivable Interest is:
	 	 	 	Capital
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Net Receivables Balance less Aggregate Reserves

X-3

 

	 	 	 	 	 	 	 

	5.

	 	Dilution Ratio is:
	 	 	 	Dilution during the Current Month + Quarterly Cash

Discount + 2% Discount for Pmt within terms (cell I36)
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Current Month Ending Receivables Balance
	 
	 	 	 	 	 	 
	6.

	 	Loss to Balance Ratio is:
	 	 	 	Receivables > 90 Days Past Due + Actual Write-Offs
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Current Month Ending Receivables Balance
	 
	 	 	 	 	 	 
	7.

	 	Delinquency Ratio is:
	 	 	 	Receivables > 60 Days Past Due
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Current Month Ending Receivables Balance

Schedule A: Excess Obligor

Concentrations

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Eligible	 	 	Concentration Limit	 	 	Concentration Limit	 	 	 	 
	Special Obligors	 	Receivables*	 	 	as % of LRF	 	 	($)	 	 	Excess Concentration	 
	 
	1.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Non-Special Obligors (subject to the
Standard Concentration Limit)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	1.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Total	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

			
	*	 	Totals are net of A/R > 60 days past due

Schedule A: Short-term Debt Ratings of Special Obligors

	 	 	 	 	 	 	 
	Special Obligors	 	S&P Rating	 	Moody’s Rating	 	Concentration Limit
	 
	1.
	 	 	 	 	 	 
	2.
	 	 	 	 	 	 
	3.
	 	 	 	 	 	 
	4.
	 	 	 	 	 	 
	5.
	 	 	 	 	 	 

X-4

 

The undersigned hereby represents and warrants that the foregoing is a true and accurate accounting with respect to
outstandings as of                     
       , 20        in accordance with the Amended and Restated Receivables Purchase Agreement dated as
of                     
          , 20          as amended, supplemented or otherwise modified from time to time, and that all Representations and
Warranties are restated and reaffirmed.

	 	 	 	 	 	 	 

	 

	 	Signed by:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:
	 	Vice President and Treasurer	 	 
	 

	 	 	 	 

	 	 

X-5

 

EXHIBIT XI

FORM OF JOINDER AGREEMENT

     Reference is made to the Third Amended and Restated Receivables Purchase Agreement dated as of
May 19, 2010 (as the same may be amended, restated, supplemented or otherwise modified from time to
time, the “Agreement”), among CGSF Funding Corporation (the “Seller”), McKesson
Corporation, as initial Servicer (together with its successors and assigns, the
“Servicer”), the “Conduit Purchasers” from time to time party thereto, the “Committed
Purchasers” from time to time party thereto, the “Managing Agents” from time to time party thereto
and JPMorgan Chase Bank, N.A., as collateral agent (the “Collateral Agent”). To the extent
not defined herein, capitalized terms used herein have the meanings assigned to such terms in the
Agreement.

     ___(the
“New Managing Agent”), ___ (the “New Conduit Purchaser”), ___(the
“New Committed Purchaser[s]”; and together with the New Managing Agent and New Conduit
Purchaser , the “New Purchaser Group”), the Seller, the Servicer and the Collateral Agent
agree as follows:

     1. Pursuant to Section 12.3 of the Agreement, the Seller has requested that the New Purchaser
Group agree to become a “Purchaser Group” under the Agreement.

     2. The effective date (the “Effective Date”) of this Joinder Agreement shall be the
later of (i) the date on which a fully executed copy of this Joinder Agreement is delivered to the
Collateral Agent and (ii) the date of this Joinder Agreement.

     3. By executing and delivering this Joinder Agreement, each of the New Managing Agent, the New
Conduit Purchaser and the New Committed Purchaser[s] confirms to and agrees with each other party
to the Agreement that (i) it has received a copy of the Agreement and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into
this Joinder Agreement; (ii) it will, independently and without reliance upon the Collateral Agent,
the other Managing Agents, the other Purchasers or any of their respective Affiliates, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Agreement or any Transaction Document;
(iii) it appoints and authorizes the Collateral Agent to take such action as agent on its behalf
and to exercise such powers under the Agreement, the Transaction Documents and any other instrument
or document pursuant thereto as are delegated to the Collateral Agent by the terms thereof,
together with such powers as are reasonably incidental thereto and to enforce its respective rights
and interests in and under the Agreement, the Transaction Documents, the Receivables, the Related
Security and the Collections; (iv) it will perform all of the obligations which by the terms of the
Agreement and the Transaction Documents are required to be performed by it as a Managing Agent, a
Conduit Purchaser and a Committed Purchaser, respectively; (v) its address for notices shall be the
office set forth beneath its name on the signature pages of this Joinder Agreement; and (vi) it is
duly authorized to enter into this Joinder Agreement.

     4. On the Effective Date of this Joinder Agreement, each of the New Managing Agent, the New
Conduit Purchaser and the New Committed Purchaser[s] shall join in and be a party to the Agreement
and, to the extent provided in this Joinder Agreement, shall have the rights and obligations of a
Managing Agent, a Conduit Purchaser and a Committed Purchaser, respectively, under the Agreement.

     5. This Joinder Agreement may be executed by one or more of the parties on any number of
separate counterparts, and all of said counterparts taken together shall be deemed to constitute
one and the same instrument.

XI-1

 

     6. This Joinder Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

     IN WITNESS WHEREOF, the parties hereto have caused this Joinder Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above written, such
execution being made on Schedule I hereto.

XI-2

 

Schedule I

to

Joinder Agreement

Dated                                          , 20                    

Section 1.

     The “CP Rate” for any Tranche Period for any Purchaser Interest owned by the New Conduit
Purchaser is [          ].

     The “LIBO Rate” for any Tranche Period for any Purchaser Interest funded by any member of the
New Purchaser Group is [         ].

     The “Base Rate” for any Tranche Period for any Purchaser Interest owned by the New Purchaser
Group is [          ].

     The New Purchaser Group is a [Bank][CP] Funding Purchaser Group.

Section 2.

     The “Commitment[s]” with respect to the New Committed Purchaser[s] [is][are]:

	 	 	 	 	 
	          
    [New Committed Purchaser]

NEW CONDUIT PURCHASER: 	 $[          ]

 [NEW CONDUIT PURCHASER]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Address for notices:

[Address]  	 
	 
	NEW COMMITTED PURCHASER[S]: 	 [NEW COMMITTED PURCHASER]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  		 
	 
	 	Address for notices:

[Address]  	 
	 
	NEW MANAGING AGENT: 	 [NEW MANAGING AGENT]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Address for notices:

[Address]  	 

XI-3

 

	 	 	 	 	 

Consented to this            day of                     , 20           by:

					
	 	

CGSF FUNDING CORPORATION

     as Seller

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

					
	 	

MCKESSON CORPORATION

     as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

					
	 	

JPMORGAN CHASE BANK, N.A.,
      as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[SIGNATURE BLOCK FOR EACH MANAGING AGENT]

     as A Managing Agent

XI-4

 

SCHEDULE A

PURCHASER GROUPS AND COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Purchaser Group
	Purchaser Group	 	Conduit Purchaser(s)	 	Purchaser Group Type	 	Committed Purchaser(s)	 	Commitment	 	Limit
	JPMorgan
Purchaser Group

	 	JS Siloed Trust
Jupiter
Securitization
Company LLC
	 	CP Funding
Purchaser Group
	 	JPMorgan Chase Bank,
N.A.
	 	$	250,000,000	 	 	$	250,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Scotia Purchaser
Group

	 	Liberty Street
Funding LLC
	 	CP Funding
Purchaser Group
	 	The Bank of Nova Scotia
	 	$	200,000,000	 	 	$	200,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rabobank Purchaser
Group

	 	Nieuw Amsterdam
Receivables
Corporation
	 	CP Funding
Purchaser Group
	 	Cooperatieve Centrale
Raiffeisen-
Boerenleenbank B.A.,
“Rabobank
International”, New
York Branch
	 	$	150,000,000	 	 	$	150,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	BTMU Purchaser Group

	 	Gotham Funding
Corporation
	 	CP Funding Purchaser Group
	 	The Bank of
Tokyo-Mitsubishi UFJ
Ltd., New York Branch
	 	$	200,000,000	 	 	$	200,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bank of America
Purchaser Group

	 	N/A
	 	Bank Funding
Purchaser Group
	 	Bank of America, N.A.
	 	$	150,000,000	 	 	$	150,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	PNC Purchaser Group

	 	Market Street
Funding LLC
	 	CP Funding
Purchaser Group
	 	PNC Bank, National
Association
	 	$	150,000,000	 	 	$	150,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fifth Third
Purchaser Group

	 	N/A
	 	Bank Funding
Purchaser Group
	 	Fifth Third Bank
	 	$	150,000,000	 	 	$	150,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	HSBC Purchaser Group

	 	Bryant Park Funding
LLC
	 	CP Funding
Purchaser Group
	 	HSBC Bank USA,
National Association
	 	$	100,000,000	 	 	$	100,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	TOTAL
	 	$	1,350,000,000	 	 	$	1,350,000,000	 

A-1

 

SCHEDULE B

PURCHASER GROUP NOTICE AND PAYMENT INFORMATION

	 	 	 	 	 
	Purchaser Group	 	Notice Address	 	Payment Instructions
	JPMorgan Purchaser Group

	 	JPMorgan Chase Bank, N.A. 

10 South Dearborn Street 

Suite IL1-0079
	 	Account Title: JS Siloed Trust

JPMorgan Chase Bank, NA

ABA Number:
	 

	 	Chicago, IL 60670
	 	Account Number:
	 

	 	Attn: Asset Backed Securities
	 	SWIFT Address:
	 
	 	 	 	 
	Scotia Purchaser Group

	 	The Bank of Nova Scotia

One Liberty Plaza 

New York, New York 10006

Attn: Darren Ward
	 	Account: Liberty Street Funding LLC 

The Bank of Nova Scotia — New York 

Agency 

ABA#: 
Acct#: 
Ref: CGSF Funding
	 
	 	 	 	 
	Rabobank Purchaser Group

	 	Cooperatieve Centrale Raiffeisen-

Boerenleenbank B.A., “Rabobank
	 	Deutsche Bank Trust Company

 Americas

ABA#:
	 

	 	International”, New York Branch
	 	Acct Name:
	 

	 	245 Park Avenue, 37th Floor
	 	Acct #:
	 

	 	New York, New York 10167

Attn: Transaction Management
	 	Ref: 1
	 
	 	 	 	 
	BTMU Purchaser Group

	 	The Bank of Tokyo-Mitsubishi UFJ,

Ltd., New York Branch 

1251 Avenue of the Americas 

New York, New York 10020
	 	Gotham Funding Corporation

Bank of Tokyo Mitsubishi 

UFJ Trust Company 

ABA#:
	 

	 	Attn: John Donoghue
	 	Gotham Funding Corporation

Acct#:
	 

	 	 	 	Ref: CGSF Funding Corporation
	 
	 	 	 	 
	Bank of America Purchaser
Group

	 	Bank of America, N.A.

214 North Tryon Street
	 	Bank: Bank of America, N.A. 

ABA:
	 

	 	NC1-027-21-04

Charlotte, NC 28202
	 	Acct name: Bilateral Clearing

Account #:
	 

	 	Attn: Timothy Pacitto
	 	Ref: McKesson Corporation

Attn: Geralyn Hair

 

			
	1	 	Payment information prior to June 9, 2010:

US Bank Trust NA

ABA#:

Acct Name:

Acct #: FFC Acct

Ref: Nieuw Amsterdam

B-1

 

	 	 	 	 	 

	PNC Purchaser Group

	 	PNC Bank, National Association

One PNC Plaza

249 Fifth Avenue
	 	Market Street Funding LLC 

PNC Bank, N.A. 

Acct #:
	 

	 	Pittsburgh, Pennsylvania 15222
	 	ABA#:
	 

	 	Attn: Tony Stahley
	 	Ref: McKesson
	 
	 	 	 	 
	Fifth Third Purchaser Group

	 	Fifth Third Bank

38 Fountain Square Plaza
	 	Fifth Third Bank

ABA#:
	 

	 	MD 109046

Cincinnati, OH 45202
	 	Acct Name: Commercial Loan Wires

Acct #:
	 

	 	Attn: Asset Securitization Group
	 	Other Instructions: CGSF Funding

Reference:
	 

	 	 	 	Attention: Charissa Toole
	 
	 	 	 	 
	HSBC Purchaser Group

	 	HSBC Securities (USA), Inc. 

452 Fifth Avenue
	 	HSBC Bank USA, National Association

ABA #:
	 

	 	New York, New York 10018

Attn: Thomas A. Carroll, Director
	 	Acct Name: Issuer Services

Acct #:
	 

	 	 	 	Reference:
	 

	 	 	 	Attention: Audrey Zabriskie

B-2

 

SCHEDULE C

DOCUMENTS TO BE DELIVERED

ON OR PRIOR TO THE EFFECTIVE DATE

1. Third Amended and Restated Receivables Purchase Agreement, dated as of the Effective Date, among
the Seller, McKesson, as Servicer, the Conduit Purchasers party thereto, the Committed Purchasers
party thereto, the Managing Agents party thereto and JPMorgan Chase Bank, N.A., as Collateral Agent

2. Ninth Amended and Restated Fee Letter, dated as of the Effective Date, among the Seller and the
Managing Agents

3. Second Amended and Restated Receivables Sale Agreement, dated as of the Effective Date, between
Originator and CGSF.

4. Second Amended and Restated Receivables Sale Agreement, dated as of the Effective Date, between
CGSF and Seller.

5. Subordinated Note, dated as of the Effective Date, of CGSF in favor of the Originator.

6. Subordinated Note, dated as of the Effective Date, of the Seller in favor of CGSF.

7. Certificate of Incorporation of McKesson, certified by the Secretary of State of Delaware

8. Certificate of Incorporation of California Golden State Finance Company, certified by the
Secretary of State of California

9. Certificate of Incorporation of Seller, certified by the Secretary of State of Delaware

10. Good Standing Certificate for McKesson issued by the Secretary of State of the States of
Delaware and California

11. Good Standing Certificate for California Golden State Finance Company issued by the Secretary
of State of California

12. Good Standing Certificate for Seller issued by the Secretary of State of Delaware

13. UCC lien searches against (i) Seller and McKesson in the State of Delaware and (ii) California
Golden State Finance Company in the State of California

14. Opinion of in-house counsel to McKesson with respect to certain corporate matters.

15. Opinion of Morrison & Foerster LLP, counsel to McKesson, with respect to true sale,
nonconsolidation, UCC matters, enforceability, no conflict with New York or Federal law and ’40 Act
matters

C-1exv10w7

Exhibit 10.7

PURCHASE AGREEMENT

     THIS PURCHASE AGREEMENT (“Agreement”), dated as of December 31, 2002 is entered into between
McKESSON CAPITAL CORP., a corporation duly organized and existing under the laws of Delaware, with
its principal office at One Post Street, San Francisco, California 94104 (“Seller”) and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“Purchaser”), having an office at 20225
Watertower Blvd., Suite 300 Brookfield, Wisconsin 53045.

W I T N E S S E T H:

     WHEREAS, Seller is, among other things, in the business of leasing and financing the
acquisition of various types of equipment, and in connection therewith, has originated or otherwise
acquired interests in certain equipment financing transactions; and

     WHEREAS, Seller desires to sell to Purchaser, and Purchaser desires to purchase from Seller,
all of Seller’s right to receive certain payments due to Seller pursuant to such financing
transactions;

     WHEREAS, McKesson Corporation, a Delaware corporation and the parent company of Seller
(“Parent”), will execute and deliver simultaneous herewith a guaranty of the obligations of Seller
hereunder and under any ancillary documents executed in connection with the transactions
contemplated herein in the form of Exhibit C hereto (the “Guaranty”); and WHEREAS, this Agreement
is intended to state each party’s agreement with respect to such sale and purchase.

     NOW, THEREFORE, in consideration of these premises and the mutual promises and covenants
contained herein, the parties hereto, intending to be legally bound, agree as follows:

ARTICLE I.

CERTAIN DEFINITIONS

     Account shall mean any financing transaction listed on Exhibit A attached hereto and made a
part hereof. Account Documents shall mean, with reference to each individual Account, the rental or lease agreements (whichever is applicable), any schedules, collateral security agreements,
letters of credit, certificates of deposit, guaranties, bills of sale, assignments, cross-default and/or cross collateral agreements, or any other agreements, documents or instruments evidencing a
payment obligation under, providing security for, or otherwise executed and delivered by any Account Party in connection with an Account, including any document evidencing any Credit
Enhancement, but excluding any Ancillary Agreement.

     Account Party shall mean any renter, lessee, buyer, borrower, guarantor or other party named
in any Account Document (other than any McKesson Affiliate) or otherwise obligated to make payments
on any Account.

1

 

     Affiliate shall mean with respect to any Person, any other Person that directly or indirectly
controls, is controlled by or is under common control with such Person.

     Ancillary Agreements shall mean any maintenance agreement, services agreement, license or
license agreement, software agreement, manufacturing or supply agreement, however designated, and
any other agreements not relating to the payment of rental or lease amounts in respect of any
Equipment, from time to time existing between any McKesson Affiliate and any Account Party or any
Affiliate of any Account Party.

     Assignment shall mean the Bill of Sale and Assignment substantially in the form of Exhibit B
to this Agreement.

     Business Day shall mean any day other than a day on which banking institutions in New York
City are authorized or required by law to close.

     Closing Date Servicer Advances shall have the meaning specified in Section 3.2(a).

     Closing Payment Amount shall mean $117,931,996.67 (being the Preliminary Purchase Price less
the Closing Date Servicer Advances).

     Confidential Information shall mean all trade secrets or confidential or proprietary
information disclosed orally, visually or in writing by one party to this Agreement to the other
party. Confidential Information shall include, without limitation, all information disclosed to
Purchaser by Seller identifying, or with respect to, any customer of Seller. Confidential
Information does not include information that: (i) is approved for release by the written
authorization of Seller; (ii) Purchaser can show was already in its possession at the time of
disclosure; (iii) is or becomes publicly available by other than unauthorized disclosure by
Purchaser; (iv) is received by Purchaser from a third party who Purchaser reasonably believes is
rightfully in possession of such information free of any obligation to maintain its
confidentiality; or (v) is independently developed by Purchaser without access to the Confidential
Information.

     Contract Rights shall mean the rights of Seller under the Account Documents to the extent
related to the Payment Rights.

     Credit Enhancement shall mean any (i) security deposit, unapplied advance or rental or lease
payment, (ii) investment certificate, certificate of deposit, hypothecation of investment or
deposit account or like instrument, (iii) letter of credit, repurchase agreement, agreement of
indemnity or guarantee, or (iv) recourse agreement, in each case, pledged, assigned, or transferred
as security for the performance of any obligation to make a Payment.

     Equipment shall mean the equipment related to the Accounts.

     Event of Bankruptcy shall be deemed to have occurred with respect to a Person when:

               (a) Such Person shall consent to the appointment of a custodian, receiver, trustee or
liquidator (or other similar official) of itself, or of a substantial part of its property, or
shall admit in writing its inability to pay its debts generally as they come due, a court

2

 

of competent jurisdiction shall determine that such Person is generally not paying its debts
as they come due or such Person shall make a general assignment for the benefit of creditors;

               (b) Such Person shall file a voluntary petition in bankruptcy or a voluntary petition or an
answer seeking reorganization in a proceeding under any bankruptcy laws (as now or hereafter in
effect) or an answer admitting the material allegation of a petition filed against such Person in
any such proceeding, or such Person shall, by voluntary petition, answer or consent, seek relief
under the provisions of any now existing or future bankruptcy or other similar law providing for
the reorganization or winding up of debtors, or providing for an agreement, composition, extension
or adjustment with its creditors;

               (c) any assignment of rights or delegations of duties by such Person with respect to its
duties or rights under this Agreement, except as specifically permitted under this Agreement, or
any attempt to make such an assignment or delegation; and

               (d) a petition against such Person in a proceeding under applicable bankruptcy laws or other
insolvency laws, as now or hereafter in effect, shall be filed and shall not be stayed, withdrawn
or dismissed within 60 days thereafter, or if, under the provisions or any law providing for
reorganization or winding up of debtors which may apply to such Person, any court of competent
jurisdiction shall assume jurisdiction, custody or control of such Person, or any substantial part
of its property, and such jurisdiction, custody or control shall remain in force unrelinquished,
unstayed or unterminated for a period of 60 days.

     Financial Institution shall mean any commercial bank, finance company or any other Person
primarily engaged in the business of providing financial services or financial products, organized
under the laws of the United States or any state thereof.

     Governmental Entity shall mean a federal, state, provincial, local, county, municipality or
other governmental, regulatory or administrative agency, department, commission, board, bureau, or
other authority or instrumentality, domestic or foreign.

     Lockbox Account shall have the meaning given to such term in the Services Agreement.

     Lockbox Account Documents shall have the meaning specified in Section 4.1(f).

     Loss shall mean any loss, cost, damage, liability, deficiency, fine, penalty or expense
(including, without limitation, reasonable attorneys’ fees and other professional or expert fees),
and damages to, loss of use of or decrease in value.

     Lien shall mean any lien, security interest, claim or encumbrance.

     MAH shall mean McKesson Automation Inc., a Pennsylvania corporation (successor in interest to
McKesson Automated Healthcare Inc.).

     MAS shall mean McKesson Automation Systems Inc., a Louisiana corporation (successor in
interest to McKesson Automated Prescription Systems Inc.).

3

 

     McKesson Affiliate shall mean McKesson Corporation, together with each of its Subsidiaries.

     Payment Rights shall mean the rights to receive the Payments.

     Payments shall mean all lease or rental payments due or to become due on an Account as of the
date hereof, and shall include without limitation late charges and all amounts due for Taxes to the
extent that the Account Documents require that an Account Party is responsible therefor, but
excluding (a) any payments required to be made to Seller in respect of any indemnity claim on
account of Tax or third party obligations incurred by Seller in connection with any Equipment,
Account or Account Document, (b) any payment owing upon any default, termination event or casualty
event under any Account Document, to the extent relating to or providing compensation in respect of
any residual interest in the Equipment, or (c) without duplication, any payments in respect of any
Retained Payment Rights.

     Permitted Assignee shall mean any Person that (a) is a Financial Institution, (b) does not,
either directly or through any of its Subsidiaries, engage in the Restricted Activities and (c) has
agreed to be bound by Section 7.15 of this Agreement. For purposes of determining whether an
Affiliate of Purchaser is a Permitted Assignee, such Affiliate shall satisfy clause (b) above so
long as such Affiliate does not control directly or with Purchaser or any Subsidiary of Purchaser
or such Affiliate a business engaged in the business described in such clause (b).

     Person shall mean any natural person, trust, corporation, limited liability company, estate,
joint stock association, partnership, firm or Governmental Entity.

     Preliminary Purchase Price shall have the meaning specified in Section 3.2(a).

     Purchase Date shall mean the date on which Purchaser purchases the Purchased Assets and
delivers the Closing Payment Amount to Seller.

     Purchase Price shall have the meaning specified in Section 3.2(a).

     Purchased Assets shall mean the Contract Rights and the Payment Rights.

     Restricted Activities shall mean providing information technology or software, or providing
information technology support or services, to healthcare organizations and providers (including,
without limitation, integrated delivery networks, hospitals, extended care facilities, physician
group practices, home health providers, managed care providers and payors) relating directly or
indirectly to the management of healthcare related resources, inventory, records, data, workflow,
quality control systems or revenues, and other similar services engaged in by McKesson Information
Solutions Inc. from time to time.

     Retained Payment Rights shall mean (i) all Ancillary Payments (as defined in the Services
Agreement), (ii) all payments due or to become due in respect of rentals or leases of equipment
other than the Equipment, (iii) payments due or to become due in respect of the Residual Interest
(as defined in the Services Agreement), (iv) all payments due or to become due in respect of any
sales, use or property tax or similar charge by any Governmental Authority with

4

 

respect to any Equipment, and (v) any and all amounts payable to Seller pursuant to Section
7.17 of this Agreement.

     Software shall mean any proprietary software, in object code, licensed to an Account Party in
connection with or in relation to any Equipment.

     Subsidiary shall mean, with respect to any Person, any entity of which more than 50% of the
voting stock or other equity interest is owned directly or indirectly by such Person, or which is
controlled by such Person, pursuant to any management agreement or otherwise.

     Taxes shall mean any and all federal, state, local or foreign taxes, fees, charges or
assessments of any nature upon or in regard to the Purchased Assets, Accounts, the Account
Documents or the related Equipment, levied or assessed at any time, including, but not limited to,
any sales, use, transfer or similar taxes, transactions, intangibles, ad valorem, value-added,
registration, title, license, stamp, personal property, Federal highway use, custom, duty or other
tax, governmental fee or other like assessment or charge of any kind whatsoever (other than and not
including income or franchise taxes), together with any interest, penalties or additions thereto.

     UCC shall mean the Uniform Commercial Code as in effect in the applicable jurisdiction.

     Upgrade shall mean, in respect of any Equipment, any new release or any new version of such
Equipment, or additional enhancements, functionality or features, for which the McKesson Affiliates
charge their customers.

ARTICLE II.

REPRESENTATIONS AND WARRANTIES

     Section 2.1 Representations and Warranties of Seller. Seller, as of the date hereof, hereby
makes the following representations and warranties to Purchaser, each of which is true and correct
on the date hereof:

          (a) Organization, Power and Qualification.

               (i) Seller is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware and is duly qualified and in good standing to do business in each
jurisdiction in which the character of its properties or the nature of its activities requires such
qualifications;

               (ii) Seller has full corporate power and authority to enter into this Agreement and to take
any action and execute any documents required by the terms hereof;

               (iii) This Agreement and all related transactions (including, without limitation, the ability
to transfer and convey the Purchased Assets) have been duly authorized by all necessary corporate
proceedings, and this Agreement has been duly and validly executed and delivered by Seller, and,
assuming due authorization, execution and delivery by Purchaser, is a legal, valid and binding
obligation of Seller, enforceable in accordance with the terms hereof;

5

 

               (iv) No consent, approval, authorization, order, registration or qualification of, or with,
any court or regulatory authority or other governmental body having jurisdiction over Seller, the
absence of which would adversely affect the legal and valid execution, delivery and performance by
Seller of this Agreement or the documents and instruments contemplated hereby or the taking by
Seller of any actions contemplated herein, is required;

               (v) None of Seller’s execution and delivery of this Agreement, Seller’s consummation of the
transactions contemplated hereby or Seller’s fulfillment of or compliance with the terms and
conditions of this Agreement conflicts with or results in a breach of or a default under any of the
terms, conditions or provisions of any legal restriction by which Seller is a party or is now bound
(including, without limitation, any judgment, order, injunction, decree or ruling of any court or
governmental authority, or any federal, state, local or other law, statute, rule or regulation) or
any covenant or agreement or instrument to which Seller is now a party, or by which Seller or any
of Seller’s property is now bound, and none of such execution, delivery, consummation or compliance
by Seller will violate or result in a violation of the Certificate of Incorporation or By-Laws of
Seller;

               (vi) Seller has valid title to the Purchased Assets, free and clear of any Lien, and Seller
has not previously assigned, sold or hypothecated any interest that it has in any Purchased Asset,
and upon consummation of the transactions contemplated hereby, Seller will convey to Purchaser the
Purchased Assets and will be entitled to all of the benefits due and owing to Seller under the
Account Documents relating to the Purchased Assets;

               (vii) There is no action, suit or proceeding pending, or, to the knowledge of Seller,
threatened, against Seller in any court or by or before any Governmental Entity which would
materially affect the ability of Seller to carry out the transactions contemplated by this
Agreement; and

               (viii) The chief executive office of Seller is the address stated in the recitals above.

          (b) Account Representations. The parties acknowledge that Seller is a party to the Master
Lease Receivables Purchase Agreement dated as of January 1, 2000 between Seller and McKesson
Automated Healthcare, Inc., a Pennsylvania corporation (“MAH”), and the Lease Receivables Purchase
and Service Agreement dated as of October 1, 2001 between Seller and McKesson Automation Systems
Inc., a Louisiana corporation (“MAS”), pursuant to which Seller has acquired its interest in the
Purchased Assets and the Equipment. For each Account:

               (i) Each Account and Account Document is genuine and, in reliance, in part, on Purchaser’s
representation in Section 2.2(c)(vi) herein, all of the Purchased Assets are assignable by Seller
to Purchaser without the prior written consent of, or prior notice to, any Account Party;

               (ii) Each Account was originated in connection with the sale, financing or refinancing of one
or more units of Equipment for commercial or other business use, and all costs, fees and expenses
of Seller, MAH or MAS, as the case may be, incurred in connection

6

 

with the closing or commencement of each such Account and any Account Document have been paid;

               (iii) Each Account was originated by MAH or MAS, as the case may be, and interests therein
acquired by Seller, in each case, in the ordinary course of business of MAH, MAS or Seller, as the
case may be;

               (iv) The terms and conditions contained in the Account Documents reflect the entire agreement
between parties thereto in relation to the Payment Rights and there are no other oral or written
agreements or representations to which Seller is a party in connection therewith;

               (v) None of Seller, MAH nor MAS, as the case may be, has directly or indirectly, in any way,
extended or otherwise restructured the payment terms or any other material term or condition of any
Account Document affecting or relating to any Payment Right, or made any extension or other
accommodation to any Account Party for purposes of changing or beneficially affecting the
delinquency status of any Account;

               (vi) Purchaser has been provided with a copy of each form of lease agreement and rental
agreement affecting or relating to any Payment Rights and there has been no material deviations
therefrom in any provisions that could reasonably be expected to have a material adverse effect on
the enforceability of the Payment Rights;

               (vii) All names, addresses, amounts, dates, signatures and other statements of facts contained
in the Account Documents are genuine, true and correct in all material respects, to the extent that
any inaccuracy or lack of correctness would reasonably be expected to have an adverse effect upon
any Payment Right;

               (viii) Exhibit A correctly reflects Seller’s best estimate of the total amount of Payments to
be made on each Account that will be payable to Purchaser after the date hereof (net of any sales,
use or similar taxes thereon);

               (ix) No Payment on an Account to which Seller is entitled that has a due date after the date
hereof has been prepaid;

               (x) Each Account Document complies in all material respects with all applicable federal,
state, local and other laws, rules, regulations and requirements promulgated by any Governmental
Entity with respect to the creation of such obligation, the billing or collection of discounts,
fees or similar charges, the amount of interest or other charges which may be collected and the
disclosure of discounts, fees, interest or other charges, including without limitation, laws
pertaining to usury, truth-in-lending, installment or conditional sales and sales financing; each
Account Document represents the legal, valid and binding obligation of such Account Party,
enforceable under all applicable laws against such Account Party in accordance with its terms,
except to the extent that enforcement of remedies may be limited by applicable bankruptcy,
insolvency or similar laws; to the Seller’s knowledge, neither the billing and collection nor the
enforcement of any Account Document in accordance with express contractual terms thereof will
result in the violation of any laws heretofore enacted by or regulations promulgated or heretofore
issued by any Governmental Entity;

7

 

               (xi) Except as set forth at Schedule 2.1(b)(xi), no Account is delinquent in the payment of
any amount due thereunder, no Event of Bankruptcy has occurred and is continuing with respect to
any Account Party, each Account is without default as to payment thereunder or under any Account
Document and no Account or Account Document is subject to any legally valid defense, setoff, claim,
recoupment, deduction, right of rescission or counterclaim (other than any existing under a
contract, instrument or agreement between any Account Party and Purchaser);

               (xii) Except as set forth at Schedule 2.1(b)(xii), there are no claims, suits, actions,
administrative, arbitration or other proceedings or governmental investigations, including, without
limitation, any counterclaims or claims by any Account Party, pending or, to the knowledge of
Seller, threatened against Seller, MAH or MAS relating to the Accounts or the acquisition,
collection or administration of the Accounts; none of MAH, MAS or Seller has received any notice
of, and, to the knowledge of Seller, there is no valid basis for, any claim or assertion of
liability against MAH, MAS or Seller relating to the Accounts or the acquisition, collection or
administration thereof; none of MAH, MAS or Seller has been party to any proceeding, and, to the
knowledge of Seller, there has not been any investigation by or before any regulatory authority in
connection with the business practices of MAH, MAS or Seller with respect to the Accounts, or the
acquisition, collection or administration thereof;

               (xiii) Any down payment or advance rental or lease payment that may be required to be paid by
an Account Party pursuant to the Account Documents on the Equipment related to each Account has
been fully paid in cash and no part thereof has been loaned, directly or indirectly, by MAH, MAS or
Seller (or by any predecessor-in-interest to MAH, MAS or Seller), as the case may be;

               (xiv) All Equipment has been delivered to, and unconditionally and irrevocably accepted under
and for purposes of the applicable Account Document, by the Account Party;

               (xv) Seller has no knowledge of noncompliance of any Equipment with any applicable federal,
state, local or other law, rule or regulation and, to the best of Seller’s knowledge, all Equipment
is in good and working condition;

               (xvi) MAH or MAS, as the case may be, has valid title to or a perfected security interest in,
with respect to Account Documents constituting “leases intended as security” (as such term is
interpreted under applicable provisions of the UCC) only, the Equipment, free and clear of any
Lien; Seller has valid title to or a perfected security interest in the Purchased Assets and, with
respect to Purchased Assets relating to Account Documents constituting “leases intended as
security” (as such term is interpreted under applicable provisions of the UCC) only, the Equipment,
free and clear of any Lien; and none of MAH, MAS or Seller, as the case may be, has previously
assigned, sold or hypothecated any interest that it has in any Purchased Asset or Equipment;

               (xvii) Attached hereto as Schedule 2.1(b)(xvii) is a list, by item or type, of Credit
Enhancements that have been issued for the benefit of Seller to secure any Payment; (xviii) No part
of any property in which a security interest has been created to secure any

8

 

obligation to make a Payment has been released from such security interest except for releases
in cases of repairs and replacements;

               (xviii) No part of any property in which a security interest has been created to secure any
obligation to make a Payment has been released from such security interest except for releases in
cases of repairs and replacements;

               (xix) None of MAH, MAS or Seller, as the case may be, has collected and is not holding any
Credit Enhancement that constitutes a security deposit or prepaid amount relating to any Payment;

               (xx) Except as provided at Schedule 2.1(b)(xx), the Equipment is properly insured as required
by the Account Documents, and, to Seller’s knowledge, none of MAH, MAS or Seller, as the case may
be, has been informed of nor received any notice of any pending claims by or through any Account
Party against the manufacturer or supplier of any of the Equipment based on express or implied
warranties, product liability or otherwise;

               (xxi) Except as set forth in Schedule 2.1(b)(xi), each Account Party is in full compliance
with the Account Documents, except to the extent any noncompliance would not reasonably be expected
to have an adverse effect upon any Payment Right;

               (xxii) Each Account Document constituting a promissory note, certificated security (as defined
in the UCC), bond, warrant or chattel paper (as defined in the UCC) obtained as collateral, is the
original and only original of such document and is in the possession of Seller;

               (xxiii) Except as provided at Schedule 2.1(b)(xxiii), all outstanding Taxes levied or assessed
against each respective Account or the related Equipment have been fully paid by Seller or by the
Account Party, as the case may be;

               (xxiv) Except as set forth at Schedule 2.1(b)(xxiv), MAH or MAS, as the case may be, has filed
UCC financing statements in respect of each Account, naming the applicable lessee as debtor and
specifying the Equipment as collateral or subject to a lease; and Seller has filed UCC financing
statements in respect of the Purchased Assets and the Equipment;

               (xxv) No Credit Enhancement that constitutes a broker fee or reserve or any other commission
or similar fee directly, or indirectly, is due or owing now or in the future with respect to any
Account; and

               (xxvi) There are no civil, criminal or administrative actions, suits, claims, hearings,
injunctive proceedings, investigations or proceedings (including, but not limited to, any
counterclaims) pending or threatened against Seller or any Affiliate of Seller with respect to any
Account or Account Document, and none of MAH, MAS or Seller has received any notice in respect
thereof.

          (c) Brokers. No person acting on behalf of Seller or under the authority of Seller, is or
will be entitled to any brokers’ or finders’ fee or any other commission or similar fee,

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directly or indirectly, from any of the parties hereto in connection with any of the
transactions contemplated hereby.

     Section 2.2 Representations and Warranties of Purchaser. Purchaser hereby represents and
warrants to Seller as of the date hereof as follows:

          (a) Organization, Power and Qualification.

               (i) Purchaser is a corporation duly organized, validly existing and in good standing under the
laws of the state of its incorporation and is duly qualified and in good standing to do business in
each jurisdiction in which the character of its properties or the nature of its activities requires
such qualification;

               (ii) Purchaser has full corporate power and authority to enter into this Agreement and to take
any action and execute any documents required by the terms hereof;

               (iii) This Agreement has been duly authorized by all necessary corporate proceedings, has been
duly and validly executed and delivered by Purchaser, and, assuming due authorization, execution
and delivery by Seller, is a legal, valid and binding obligation of Purchaser, enforceable in
accordance with the terms hereof;

               (iv) No consent, approval, authorization, order, registration or qualification of, or with,
any court of law or regulatory authority or other governmental body having jurisdiction over
Purchaser, the absence of which would adversely affect the legal and valid execution, delivery and
performance by Purchaser of this Agreement or the purchase contemplated hereunder, is required;

               (v) None of the execution and delivery of this Agreement, the consummation of the transactions
contemplated hereby or the fulfillment of or compliance with the terms and conditions of this
Agreement conflict with or result in a breach of or a default under any of the terms, conditions or
provisions of any legal restriction (including, without limitation, any judgment, order,
injunction, decree or ruling or any court or governmental authority, or any federal, state, local
or other law, statute, rule or regulation) or any covenant or agreement or instrument to which
Purchaser is now a party, or by which Purchaser or any of Purchaser’s property is bound, nor does
such execution, delivery, consummation or compliance violate or result in the violation of the
Certificate of Incorporation or By-Laws of Purchaser;

          (b) Brokers. No person acting on behalf of the Purchaser or under the authority of Purchaser
is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee,
directly or indirectly, from any of the parties hereto in connection with any of the transactions
contemplated hereby.

          (c) Purchaser’s Business; Diligence; Non-Reliance.

               (i) Purchaser is entering into this Agreement in the ordinary course of its business;

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               (ii) Purchaser has obtained and is in good standing under all licenses, consents and approvals
of any and all Governmental Entities as necessary in order to undertake the transactions
contemplated by this Agreement, including, without limitation, in respect of usury laws;

               (iii) Purchaser does not engage in the Restricted Activities;

               (iv) Purchaser is acquiring the Purchased Assets for its own account for investment and not
with a view or intent to resell or distribute the Purchased Assets. Purchaser understands that,
accordingly, the Purchased Assets and the transaction contemplated hereby are not registered under
the Securities Act of 1933, as amended, or state securities or “blue sky” laws, and that the
Purchased Assets are being sold to it in a transaction that is exempt from securities registration
requirements under such laws. If in the future Purchaser decides to dispose of the Purchased
Assets, it agrees that it will do so only in a transaction exempt from the Securities Act of 1933,
as amended, and exempt under state securities or “blue sky” laws;

               (v) Purchaser (A) has reviewed the Account Documents and other due diligence materials
requested by or made available to it as it deems appropriate and has consulted with its own legal,
accounting, equipment and tax advisors with respect thereto; (B) has made an independent credit
investigation and evaluation of Seller and the financing terms that are the subject of the Account
Documents on the basis of such information as it has deemed appropriate; (C) has entered into this
Agreement on the basis of its own independent evaluation; (C) will continue to make its own credit
decisions, based on such information as it deems appropriate, in connection with the Purchased
Assets; and (E) has sufficient knowledge and experience in financial and business matters to enable
it to evaluate the merits and risks of acquiring the Purchased Assets. Purchaser acknowledges that
it has relied on no representations or warranties of Seller other than those set forth expressly in
this Agreement and the Services Agreement; and

               (vi) Purchaser is a Financial Institution.

ARTICLE III.

CERTAIN AGREEMENTS OF THE PARTIES

     Section 3.1 Agreement to Purchase and Sell. In reliance upon the representations and
warranties set forth above and subject to the fulfillment of all the terms and conditions of this
Agreement, Seller hereby agrees to sell, assign, transfer and set over to Purchaser, and Purchaser
hereby agrees to purchase, and without recourse to Seller or any other McKesson Affiliate, except
as provided in Section 6.1 and Section 6.2 hereof, the Purchased Assets. Said sale and assignment
of the Purchased Assets shall be effective as of the date hereof, subject to satisfaction of the
conditions specified in Section 4.1 and Section 4.2 hereof. Contemporaneously with the Closing,
Seller shall execute and deliver the Bill of Sale and Assignment in the form of Exhibit B hereto
and in accordance with Section 4.1 hereof. THIS AGREEMENT IS INTENDED TO REFLECT A SALE OF 100% OF
SELLER’S RIGHT, TITLE AND INTEREST IN AND TO THE PURCHASED ASSETS AND SHALL IN NO WAY BE CONSTRUED
AS AN EXTENSION OF CREDIT BY PURCHASER TO SELLER.

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     Section 3.2 Purchase Price.

          (a) The aggregate purchase price is $120,166,811.44 (the “Preliminary Purchase Price”),
subject to adjustment pursuant to Section 3.3 herein (as so adjusted, the “Purchase Price”), which
amount includes Servicer Advances (as defined in the Services Agreement and as described in
Schedule 2.1(b)(xi)) in the amount of $2,234,814.77, subject to adjustment pursuant to Section 3.3
herein (the “Closing Date Servicer Advances”). The portion of the total Purchase Price allocable
to the fees for Management Services (as defined in the Services Agreement) to be performed by
Seller under the Services Agreement equals $500,000. Purchaser shall pay (i) the Closing Payment
Amount, and (ii) if the Purchase Price less the Closing Date Servicer Advances is greater than the
Closing Payment Amount, the amount by which the Purchase Price less the Closing Date Servicer
Advances exceeds the Closing Payment Amount, to Seller, in any case without deduction, setoff,
claim or counterclaim, by wire transfer of immediately available funds, to Seller’s account in
accordance with Schedule 3.2(a). The Seller shall, if the Closing Payment Amount is greater than
the Purchase Price less the Closing Date Servicer Advances, pay the amount by which the Closing
Payment Amount exceeds the Purchase Price less the Closing Date Servicer Advances to Purchaser,
without deduction, setoff, claim or counterclaim, by wire transfer of immediately available funds,
to Purchaser’s account in accordance with Schedule 3.2(a).

          (b) The sale and assignment made in this Section shall not diminish, alter or affect in any
way any Account Party’s obligations under any Account or the related Account Documents, which are
and shall be in full force and effect.

     Section 3.3 Post-Closing Procedures.

          (a) During the period of sixty (60) days following the date hereof, each of Seller and
Purchaser shall be entitled to perform all procedures and take any other steps that it deems
appropriate to confirm that the information set forth on Exhibit A is true, complete and correct
and conforms with the terms and conditions of the Account Documents. Within such 60-day period,
each of Seller and Purchaser may, by delivery of a writing to the other party, propose changes to
the information set forth in such specified columns of Exhibit A (“Proposed Changes”) and suggested
adjustments to the Purchase Price using a discount rate of 6.21% applied to scheduled future
Payments as of the date hereof (“Proposed Adjustments”), each calculated as the increase or
decrease in the Payment balance resulting from the Proposed Change, such change to be calculated in
accordance with generally accepted accounting principles in the United States consistent with
Seller’s past practices.

          (b) If Seller shall fail to respond to any of Purchaser’s Proposed Changes or Proposed
Adjustments within thirty (30) days after receipt by Seller thereof, Seller shall be deemed to have
accepted such Proposed Change or Proposed Adjustment. If Purchaser shall fail to respond to any of
Seller’s Proposed Changes or Proposed Adjustments within thirty (30) days after receipt by
Purchaser thereof, Purchaser shall be deemed to have accepted such Proposed Change or Proposed
Adjustment.

          (c) In the event of any dispute between Seller and Purchaser regarding any Proposed Change or
Proposed Adjustment that cannot be resolved within thirty (30) days after

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receipt thereof by Seller or Purchaser, as applicable, each of Seller and Purchaser shall have
the right, upon delivery of written notice to the other party, to require that such dispute be
resolved by a public accounting firm with nationally recognized auditing expertise, which shall be
jointly selected by Purchaser and Seller and, if Seller and Purchaser cannot so agree, shall be
selected by lot from two or more public accounting firms with nationally recognized auditing
expertise, each of whom shall not have been selected by Parent or General Electric Company to audit
its consolidated financial statements for the then-current fiscal year or any of the three
immediately preceding fiscal years (the “Selected Accounting Firm”). The Selected Accounting Firm
shall resolve only issues upon which Purchaser and Seller have been unable to agree. Seller and
Purchaser shall use commercially reasonable efforts to enable the decision of the Selected
Accounting Firm to be rendered within thirty (30) Business Days after the appointment of the
Selected Accounting Firm. Each of Seller and Purchaser reserves all legal and other equitable
rights and remedies to enforce or challenge the decision rendered by the Selected Accounting Firm.

          (d) Each of Seller and Purchaser shall pay its own fees and expenses in connection with the
tasks outlined in this Section 3.3. All fees and expenses of the Selected Accounting Firm shall be
borne pro rata by Seller and Purchaser in proportion to the allocation of the disputed amount
between Seller and Purchaser by the Selected Accounting Firm, such that the prevailing party pays a
lesser portion, or none, of such fees and expenses.

ARTICLE IV.

CONDITIONS TO PURCHASE

     Section 4.1 Purchaser’s Conditions Precedent to Purchase. The obligation of Purchaser to
purchase the Purchased Assets is subject to the fulfillment (or waiver by Purchaser) of each of the
following conditions precedent:

          (a) Purchaser shall receive an Assignment and Bill of Sale in the form of Exhibit B attached
hereto, executed by Seller;

          (b) Seller shall not be in default in the performance of any obligation hereunder or under the
Services Agreement in any material respect, and all representations and warranties of Seller
contained herein or in the Services Agreement shall be true and correct in all material respects;

          (c) No MCC Event of Default (as defined in the Services Agreement) shall have occurred and be
continuing;

          (d) Seller shall have executed and delivered to Seller the Services Agreement in the form
attached hereto as Exhibit D (the “Services Agreement”); and

          (e) Seller shall cause to be delivered to Purchaser, in form and substance satisfactory to
Purchaser, such opinions of counsel as Purchaser may reasonably request regarding certain issues
related to the transactions contemplated herein, including, without limitation, (1) the status of
Seller, (2) the perfection of a security interest in the Purchased Assets

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in favor of Purchaser, and (3) the enforceability of the Assignment and Bill of Sale in favor
of Purchaser.

     Section 4.2 Seller’s Conditions Precedent to Purchase. The obligation of Seller to sell to
Purchaser the Purchased Assets is subject to the fulfillment (or waiver by Seller) of each of the
following conditions precedent:

          (a) Purchaser shall deliver to Seller the Closing Payment Amount in accordance with Section
3.2(a) hereof;

          (b) Purchaser shall have executed and delivered to Seller the Services Agreement; and

          (c) The Purchaser shall not be in default in the performance of any obligation hereunder or
under the Services Agreement in any material respect, and all representations and warranties of
Purchaser contained herein or in the Services Agreement shall be true and correct in all material
respects.

ARTICLE V.

PROTECTION OF PURCHASER

     Section 5.1 UCC-1 Financing Statements; Turnover of Documents to Purchaser.

          (a) Where applicable, Seller at its own expense will execute and deliver to Purchaser, within
five (5) Business Days following the date hereof, financing statements on Form UCC-1 prepared by
Purchaser necessary to perfect Purchaser’s first priority security interest in the Purchased
Assets.

          (b) If requested by Purchaser, Seller, at its own cost and expense, will promptly deliver to
Purchaser copies of any or all Account Documents to the extent relating to the Purchased Assets.
Notwithstanding the foregoing, upon the termination by Purchaser of the Services Agreement pursuant
to Section 11 of the Services Agreement, Seller shall, at its own cost and expense, deliver to
Purchaser promptly following such default: (i) originals of any or all Account Documents
constituting chattel paper (as defined in the UCC); (ii) originals of all Account Documents
relating solely to the Purchased Assets; (iii) copies of all other Account Documents; and (iv) such
other memorialized data, documents and records related to the documents referenced in clauses (i),
(ii) and (iii) above (including without limitation true copies of any computer tapes and data in
computer memories) as Purchaser may reasonably deem necessary to enable it to enforce its rights
thereunder or protect its position as owner or holder of the Purchased Assets. In addition, in the
event that Purchaser assumes servicing responsibilities for any Account pursuant to Section 2 of
Exhibit A to the Services Agreement, the Seller shall deliver the documents described in clauses
(i) through (iv) above that relate to such Account. After any delivery under this Section 5.1(b),
Seller will not keep or retain any executed counterpart or other copy of any such documents
referenced in clauses (i) and (ii) above, or related material, without clearly marking the same to
indicate conspicuously that the same is not the original and that transfer thereof does not
transfer any rights against any Account Party or any other Person. Notwithstanding any provision
to the contrary contained herein, Seller shall

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have no obligation to deliver to Purchaser any documents relating to Exempt Materials (as
defined in the Services Agreement).

     Section 5.2 Protection of Ownership Interest of Purchaser.

          (a) Seller will from time to time do and perform any and all acts (other than the payment of
money) and execute any and all documents (including, without limitation, the execution, amendment
or supplementation of any financing statements or continuation statements relating to the Purchased
Assets, the Accounts and/or the interests purchased pursuant hereto) for filing under the
provisions of the UCC or other applicable statute of any applicable jurisdiction, the execution,
amendment or supplementation of any instrument of transfer as may be reasonably requested by
Purchaser in order to effect the purposes of this Agreement and the sale contemplated hereunder and
to perfect and protect the interest of Purchaser in the Purchased Assets against all Persons
whomsoever to the maximum extent necessary to protect Purchaser’s interest; provided, however,
that, notwithstanding the foregoing, so long as no MCC Event of Default or MCC Change of Control
(each as defined in the Services Agreement) has occurred and is continuing, Seller shall be under
no obligation (i) to obtain any estoppel, waiver or consent from any Person relating to or in
respect of any Equipment, (ii) to deliver original counterparts of any or all Account Documents to
Purchaser, or (iii) to notify any Account Party of Purchasers’ interest in the Purchased Assets.
Notwithstanding the foregoing, in the event that Purchaser assumes servicing responsibilities for
any Account pursuant to Section 2 of Exhibit A to the Services Agreement, Purchaser shall have the
right to cause Seller to take the actions described in clauses (i) through (iii) above with respect
to such Account.

          (b) As of the date hereof, Purchaser is hereby designated Seller’s attorney-in-fact to sign
and file, on behalf of Seller, financing and continuation statements and amendments thereto and any
other documentation pertaining to the Purchased Assets and any other interests purchased pursuant
hereto, to the extent consistent with the proviso contained in Section 5.2(a).

     Section 5.3 Administration of Taxes.

          (a) Payment of Taxes. After the date hereof, Seller shall pay all Taxes as levied by any
taxing authority in any jurisdiction (i) with respect to the Payments and Purchased Assets on or
prior to the date hereof and (ii) with respect to the Equipment and the Retained Payment Rights,
and Purchaser or its Affiliates shall pay all Taxes as levied by any taxing authority in any
jurisdiction with respect to the ownership of the Payments and Purchased Assets after the date
hereof. Notwithstanding the foregoing, in the case of Taxes that are not the direct responsibility
of Seller, MAH or MAS or Purchaser (including Taxes for which Seller, MAH or MAS or Purchaser is
secondarily liable as collection agent), Seller or Purchaser, as the case may be, shall only be
liable hereunder to the extent payment is received on account of such Taxes from the applicable
Account Party. For purposes of this Section 5.3(b), (i) personal property taxes in respect of
which the assessment (lien) date occurs on or before the date hereof shall be deemed to be Taxes
levied by a taxing authority with respect to the ownership of the Purchased Assets on or prior to
the date hereof and (ii) personal property taxes in respect of which the assessment (lien) date
occurs after the date hereof shall be deemed to be Taxes levied by a taxing authority with respect
to the ownership of the Purchased Assets after the date hereof.

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          (b) Cooperation with Respect to Tax Returns. Purchaser and Seller agree to furnish or cause
to be furnished to each other, and each at their own expense, as promptly as practicable, such
information and assistance as is reasonably necessary for the filing of any Tax return, for the
preparation for any audit, and for the prosecution or defense of any claim, suit or proceeding
relating to any adjustment or proposed adjustment with respect to Taxes or any appraisal of the
Purchased Assets. Seller shall retain in its possession all Tax returns and tax records relating
to the Payments and the Purchased Assets that might be relevant to any taxable period ending on or
prior to the date hereof until the relevant statute of limitations has expired. After such time,
Seller may dispose of such materials, provided that prior to such disposition Seller shall give
Purchaser a reasonable opportunity to take possession of such materials.

          (c) Transfer Taxes. Seller shall be liable for and shall pay (and shall indemnify and hold
harmless Purchaser against) all sales, use, stamp, documentary, filing, recording, transfer or
similar fees or taxes or governmental charges (including, without limitation, UCC filing fees,
title recording or filing fees and other amounts payable in respect of transfer filings) as levied
by any Governmental Entity in connection with the transactions contemplated by this Agreement
(other than taxes measured by or with respect to income imposed on Purchaser or its Affiliates).

          (d) Income Tax. Notwithstanding anything set forth in this Agreement, or in the Services
Agreement or the Assignment, Seller shall not be responsible to Purchaser, and Purchaser shall not
be responsible to Seller, for any federal, state or local taxes based upon or measured by net
income or gains from the sale, transfer and assignment of the Purchased Assets from Seller to
Purchaser.

ARTICLE VI.

REPURCHASE AND INDEMNITY

     Section 6.1 Mandatory Repurchase. In the event of a Loss related to a Purchased Asset, solely
to the extent arising from or directly related to a breach by Seller of any of its representations
or warranties set forth in Article II of this Agreement, Seller will, within ten (10) Business Days
after receipt of notice of such Loss (such notice to be delivered by Purchaser within 30 days after
first becoming aware of the incurrence of such Loss and to contain in reasonable detail a
description of such Loss and the relationship to such underlying breach), without first requiring
Purchaser to proceed against any Account Party or any other Person for any security, repurchase the
Purchased Asset directly affected thereby and pay Purchaser in cash an amount equal to (a) the
portion of the Purchase Price allocable to such Purchased Asset (such allocation to be undertaken
on a ratable basis, in accordance with the relative discounted Payments as of the Purchase Date),
less (b) the amount of all Payments previously paid to Purchaser and allocable to such Purchased
Asset, discounted to the Purchase Date at a per annum rate of 6.21%, plus (c) interest on the
difference of (a) minus (b) calculated from the Purchase Date to the date of payment at 6.21% per
annum. Upon receipt of such payment by Seller, Purchaser shall reassign the Purchased Asset,
without recourse against or warranty by Purchaser, and shall promptly deliver a release regarding
such Purchased Asset to Seller. Such payment shall constitute liquidated damages, and shall be the
sole and exclusive remedy available to Purchaser in connection with or in respect of any such
breach of representation and warranty.

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     Section 6.2 Indemnification. Seller shall indemnify and save harmless Purchaser, its
successors and Permitted Assigns from and against any and all suits, claims, counterclaims, Losses
or liabilities of any kind Purchaser shall suffer as a result of: (a) any negligence of Seller, or
of any agent or employee of Seller, or any warranty given by Seller in respect of the purchase,
installation, delivery, maintenance and condition of any Equipment; any breach by Seller of any
warranty, representation, covenant or agreement contained herein or in the Services Agreement, or
in any Account Document not fully covered under Section 6.1 above; (c) any Loss, liability, demand
or cause of action and any expense incidental to the defense thereof by Purchaser from the use,
possession, operation or installation of any Equipment; and (d) any Taxes (including, without
limitation, any sales tax, use tax, excise tax, personal property tax, assessments and ad valorem
tax) and any governmental charges, fees, fines or penalties whatsoever, levied against any Payment
for any periods prior to the date hereof and not paid by the respective Account Party or Seller and
including any Taxes arising on the purchase and sale contemplated hereunder; provided, however,
that, except for any indemnity sought pursuant to Section 6.2(b) above as to which this proviso
shall not apply, notwithstanding any term or provision hereof to the contrary, Seller shall be
under no obligation to indemnify or save harmless Purchaser, its successors or assigns, from or
against any suits, claims, counterclaims, Losses or liabilities of any kind that Purchaser shall
suffer (i) solely to the extent arising from or directly related to any such indemnified Person’s
negligence or willful misconduct, (ii) to the extent the same constitutes directly or indirectly
recourse for uncollectible or uncollected Payments, or (iii) to the extent resulting from any Event
of Bankruptcy of any Account Party, or the unexcused failure of any Account Party to perform in
accordance with the terms of the applicable Account Documents.

     Section 6.3 Survival. The rights and obligations of Seller under this Article 6 shall survive
the execution of this Agreement, consummation of the purchase and sale contemplated hereunder, any
Payment or any repurchase by Seller of any Purchased Asset.

ARTICLE VII.

MISCELLANEOUS

     Section 7.1 Recording and Other Fees. Seller agrees to pay all recording fees, assessments or
other statutory fees necessary to perfect Purchaser’s interests in the Purchased Assets purchased
hereunder or in consummating the transactions contemplated hereby.

     Section 7.2 Successors and Assigns. Seller may not assign all or any of its rights or
delegate all or any of its duties hereunder, other than to a McKesson Affiliate. Subject to
Section 16 of the Services Agreement, Purchaser may assign its rights hereunder to a Permitted
Assignee without affecting Seller’s duties and obligations hereunder, including, without
limitation, any indemnification and recourse obligations of Seller hereunder, provided, however,
that no such assignment shall have the effect of increasing the recourse obligations of Seller.

     Section 7.3 Payments; Calculations.

          (a) Each payment to be made hereunder by Seller (not including payments from Account Parties
being forwarded by Seller in its capacity as servicer under the Services

17

 

Agreement) shall be made on the required payment date in lawful money of the United States and
in immediately available or same day funds.

          (b) Any calculation of interest made under this Agreement shall be determined on the basis of
a year of 365 days, actual days elapsed.

          (c) If Seller fails to pay any amount that may become due to Purchaser hereunder on its due
date, then (i) interest shall accrue thereon from the due date until paid in full at a rate equal
to 4% per annum, and (ii) Seller shall reimburse Purchaser upon demand for any and all collection
costs (including, without limitation, reasonable attorneys’ fees) incurred by Purchaser.

     Section 7.4 Waivers. Except to the extent specific time periods are specified for exercising
any power, right or remedy, no failure or delay on the part of Seller or Purchaser in exercising
any power, right or remedy under this Agreement or, in the case of Purchaser, any assignment shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
remedy preclude any other or further exercise thereof or the exercise of any other power, right or
remedy.

     Section 7.5 Notices; Publicity.

          (a) All communications and notices pursuant hereto, to any party shall be in writing and
addressed or delivered to it at its address shown in the opening portion of this Agreement, or at
such other address as may be designated by it by notice to the other party and shall be effective
when received.

          (b) There shall be no press release or public announcement with respect to this Agreement or
the transactions contemplated hereby without both Seller’s and Purchaser’s prior written consent.

     Section 7.6 Deliveries to Purchaser. All terms and amounts to be delivered, remitted or
otherwise furnished by Seller to Purchaser pursuant hereto or in connection herewith shall, except
as otherwise provided for herein, be delivered, remitted or furnished to Purchaser at its office at
20225 Watertower Blvd., Suite 300 Brookfield, Wisconsin 53045, or at such other place as may be
agreed upon.

     Section 7.7 Merger and Integration; Amendments, Etc. This Agreement, the Services Agreement
and the other agreements and instruments delivered hereunder set forth the entire understanding of
the parties relating to the subject matter hereof, and all other and/or prior understandings,
written or oral, are hereby superseded. This Agreement may not be modified, amended, waived,
terminated or supplemented except in accordance with its express terms and in writing executed by
Seller and Purchaser.

     Section 7.8 Headings and Cross-References. The various headings in this Agreement are
included for convenience only and shall not affect the meaning or interpretation of any provision
of this Agreement. References to any Section are to such Section of this Agreement.

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     Section 7.9 Governing Law. This Agreement shall be governed by the internal substantive laws
of the State of New York (excluding its choice of law provisions).

     Section 7.10 Counterparts. This Agreement may be signed in two or more counterparts (and by
different parties on separate counterparts), each of which shall be an original and all of which
shall be taken together as one and the same agreement.

     Section 7.11 Severability. If any provision hereby is void or unenforceable in any
jurisdiction, such voidness or unenforceability shall not affect the validity or enforceability of
(i) such provision in any other jurisdiction or (ii) any other provision herein in such or any
other jurisdiction.

     Section 7.12 Survival of Duties, Warranties and Representations. Each party hereto covenants
that its respective duties, warranties and representations set forth in this Agreement, and in any
document delivered or to be delivered in connection herewith, shall survive the execution of this
Agreement and the closing of the transactions contemplated hereunder.

     Section 7.13 Jury Trial Waivers. SELLER AND PURCHASER EACH HEREBY UNCONDITIONALLY WAIVES ITS
RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, ANY OF THE RELATED DOCUMENTS,
ANY DEALINGS BETWEEN THE PARTIES HERETO RELATING TO THE SUBJECT MATTER HEREOF OR THEREOF, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN SELLER AND PURCHASER. The scope of this waiver
is intended to be all encompassing of any and all disputes that may be filed in any court (including, without limitation, contract claims, tort claims, breach of duty claims, and all other
common law statutory claims). THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THE AGREEMENT OR ANY RELATED DOCUMENTS. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court.

     Section 7.14 Security Interest. The parties hereto intend that the transactions contemplated
herein shall constitute a purchase and sale of the Purchased Assets. If, notwithstanding the
foregoing, a court of competent jurisdiction were to hold that the purchase of the Purchased Assets
hereunder does not constitute a valid sale or transfer of the Purchased Assets as set forth above,
but instead constitutes a loan in the amount of the Purchase Price or otherwise, then this
Agreement shall be deemed a present grant of a security interest (within the meaning of the UCC) in
favor of the Purchaser and all of the Seller’s right, title and interest in and to the Purchased
Assets, the Equipment and the Lockbox Account to secure such loan in the initial amount of the
Purchase Price. Seller hereby grants a first priority security interest to the Purchaser in all of
the Seller’s right, title and interest in and to the Purchased Assets, the Equipment and the
Lockbox Account, and this Agreement shall constitute a security agreement within the meaning of the
UCC.

19

 

     Section 7.15 Confidentiality.

          (a) Purchaser agrees that, except as required by judicial order or governmental laws or
regulations, Purchaser shall use the Confidential Information solely for the purpose of
administering and enforcing the transactions contemplated herein and in the Services Agreement and
any document or instrument related thereto. Purchaser agrees to hold the Confidential Information
in confidence by security measures, devices and procedures equal to those used by it in securing
its own confidential documents, but in any event, by no less than a reasonable degree of care.
Purchaser further agrees that the Confidential Information shall be disclosed by it only to those
of its Affiliates, and those directors, officers, employees and representatives, including
attorneys, accountants and auditors, of Purchaser who need to know such Confidential Information
for the purpose of administering and enforcing the transactions contemplated herein and in the
Services Agreement and any document or instrument related thereto, and, in the case of officers,
directors and employees, who are engaged solely in the affairs of Purchaser (and not of any
Affiliate of Purchaser that now or hereafter engages in the Restricted Activities).

          (b) Seller agrees that it will not, and will instruct its representatives not to, disclose to
any other Person any deal structuring or pricing information or strategies provided to it by
Purchaser.

     Section 7.16 Regulation. Seller and Purchaser acknowledge and agree that the sale and
purchase of the Purchased Assets contemplated by this Agreement and the transactions contemplated
herein do not constitute a transaction for which a filing under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 is necessary or required.

     Section 7.17 Upgrades; Extension; Lessee Purchase Options.

          (a) Upgrades. Notwithstanding any provision to the contrary contained herein, in the event
that any Account Party elects to rent, lease or purchase any Upgrade pursuant to the terms of any
Account Document, that requires the execution and delivery of a new Account Document in replacement
of or supplement to the then existing Account Documents (“Upgrade Account Document”), Purchaser
agrees that any resulting increase in the lease, rental or other payments to be paid under the
Existing Account Document and Upgrade Account Document on account of any such Upgrade shall be for
the account of and paid to, Seller (and the remaining original portion of such lease, rental or
other payment shall continue to be paid to Purchaser).

          (b) Lease Renewals and Extensions. Notwithstanding any provision to the contrary contained
herein, in the event that any Account Party exercises any renewal or extension of any Account
Document, Purchaser agrees that any rental or other payments due in connection with such extension
or renewal shall be for the account of, and paid to, Seller.

          (c) Payments Held in Trust. Any amount payable to Seller pursuant to this Section 7.17 that
is inadvertently paid to Purchaser shall be held in trust by Purchaser for the benefit of, and
promptly paid following notice thereof, to Seller.

     Section 7.18 Attorneys’ Fees. Each party shall be responsible for the payment of its own
attorneys’ fees, expenses and any other costs incurred in connection with the negotiation and

20

 

closing of the transactions contemplated by this Agreement and any other documents executed in
connection herewith.

     Section 7.19 Post-Closing Guaranty. Seller shall deliver to Purchaser the Guaranty in the
form of Exhibit E hereto, duly executed by Parent, no later than January 10, 2003, which shall
supercede the Guaranty of Parent delivered on the date hereof.

     Section 7.20 Assignment of Lockbox Account. No later than January 10, 2003, Purchaser shall
have received such documents as may be reasonably required to assign and transfer to Purchaser the
Lockbox Account (collectively, the “Lockbox Account Documents”), duly executed by Seller and the
bank at which the Lockbox Account is maintained. From the date hereof through the effective date
of the Lockbox Account Documents, Seller shall cause all amounts paid into the Lockbox Account in
respect of any Payment or Account Documents to remain in such account, shall not, and shall not
permit any of its Affiliates to, sweep or otherwise withdraw any funds from such account and shall,
and shall cause its Affiliates to, deposit to the Lockbox Account any amounts so swept or otherwise
withdrawn between the date hereof and the effective date of the Lockbox Account Documents.

[Remainder of page intentionally left blank.]

21

 

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

	 	 	 	 	 	 	 	 	 	 	 	 
												
	MCKESSON CAPITAL CORP:	 	 	 	GENERAL ELECTRIC CAPITAL CORPORATION	
	 
	 	 	 	 	 	 	 	 	 	 	
	By:	 	/s/ Nicholas Loiacono	 	 	 	By:	 	/s/ James J. Ambrose	
	 	 	 	 	 	 	 	 	 	
	 

	 	Its: Vice President and Treasurer
	 	 	 	 	 	Its:
	 	General Manager, Healthcare

Financial Services Equipment Finance	

Signature Page to the Purchase Agreement

 

 

SCHEDULE 2.1(b)(xi)

DELINQUENT OR DEFAULTED ACCOUNTS

     [See attached]

 

 

SCHEDULE 2.1 (b)(xi) – DELINQUENT, DEFAULTED ACCOUNTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]	 	[*****]	 	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	CUSTOMER NAME	 	PD 1	 	PD 30	 	PD 60	 	PD 90	 	TOTAL PD
	[*****]

	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	TOTAL
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]
	 	[*****]

 

***** Confidential portions of this document have been redacted and filed separately with the Securities and Exchange Commission.

 

 

SCHEDULE 2.1(b)(xii)

CLAIMS, ACTIONS PROCEEDINGS, ETC.

None.

 

 

SCHEDULE 2.1(b)(xvii)

CREDIT ENHANCEMENTS

None.

 

 

SCHEDULE 2.1(b)(xx)

INSURANCE COVERAGE EXCEPTIONS; MANUFACTURER CLAIMS

None.

 

 

SCHEDULE 2.1(b)(xxiii)

TAX MATTERS

None.

 

 

SCHEDULE 2.1(b)(xxiv)

UCC FINANCING STATEMENTS

None.

 

 

EXHIBIT A

ACCOUNTS

[See attached.]

 

 

Exhibit A

Schedule of Assets Purchased:

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	(1)	 	Source: McKesson Corporation provided 12-12-02 data tape.
	 
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-1

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-2

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-3

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-4

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-5

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-6

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-7

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-8

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-9

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-10

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-11

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-12

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-13

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-14

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-15

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-16

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-17

 

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-18

 

d

Exhibit A

	 	 	 	 	 
	Account #:	 	Customer Name	 	Net Value(1)
	[*****]

	 	[*****]
	 	[*****]

	 	 	 	 	 	 	 

	 

	 	TOTAL
	 	 	[*****]	 
	 

	 	Note:
[*****] purchase premium

	 	 	[*****]	 
	 

	 	Purchase
Price:

	 	$	120,166,811.44	 
	 

	 	Net of 90 day advances:

	 	 	(2,234,814.77	)
	 

	 	Closing
Payment Amount (amount of funds to wire):

	 	$	117,931,996.67	 

 

			
	*****	 	Confidential portions of this document have been redacted and filed separately with the
Securities and Exchange Commission.

A-19

 

EXHIBIT B

BILL OF SALE AND ASSIGNMENT

     McKesson Capital Corp. (“Seller”) issues this Bill of Sale and Assignment (“Bill of Sale”) to
General Electric Capital Corporation (“Purchaser”).

Background

     Sellers and Purchaser are parties to that certain Purchase Agreement dated as of December 31,
2002 (the “Purchase Agreement”) pursuant to which Seller is delivering this Bill of Sale to
Purchaser. Unless the context hereof specifically indicates otherwise, each of the capitalized
terms used herein shall have the meaning ascribed to it in the Purchase Agreement.

1. Assignment of Purchased Assets.

     Seller hereby sells and assigns without recourse to Seller or any of the McKesson Affiliates,
except to the extent set forth in Sections 6.1 and 6.2 of the Purchase Agreement, to Purchaser all
of Seller’s right, title and interest, legal or equitable, in and to the Purchased Assets, and
Purchaser hereby purchases and accepts assignment of the aforedescribed right, title and interest.

2. Miscellaneous.

     (a) Survival. The representations, warranties and agreements made herein shall survive the
execution and delivery hereof.

     (b) Successors and Assigns. This Bill of Sale shall be binding upon, and inure to the benefit
of, Seller and Purchaser and their respective successors and assigns.

     (c) Governing Law. This Bill of Sale shall be governed by and interpreted under the laws of
the State of New York applicable to contracts made and to be performed therein, without giving
effect to the principles of conflict of laws thereof.

     (d) Captions. Captions used herein are inserted for reference purposes only and shall not
affect the interpretation or construction of this Bill of Sale.

     (e) Course of Dealing. No course of dealing between Purchaser and Seller, nor any delay in
exercising any rights or remedies hereunder or otherwise, shall operate as a waiver of any of the
rights and remedies of Purchaser or Seller.

     (f) Severability. The invalidity or unenforceability of any provision of this Bill of Sale
shall not affect the validity or enforceability of any other provision.

     (g) Further Assurances, Seller agrees to execute and deliver to Purchaser, or its successors
and assigns, as the case may be, all such further instruments and documents as may reasonably be
requested by Purchaser, or its successors and assigns, as the case may be, for the

 

 

better assuring
and confirming to Purchaser, or its successors and assigns, as the case may be, all rights to and
interests in the Payments.

     (h) Conflict. This Bill of Sale and Assignment is delivered under and pursuant to the
provisions of the Purchase Agreement described hereinabove. In the event of a conflict between the
terms hereof and the terms of the Purchase Agreement, the terms of the Purchase Agreement shall
govern and control.

     (i) Disclaimer of Warranties. EXCEPT AS SET FORTH IN THE PURCHASE AGREEMENT, SELLER MAKES NO,
AND HEREBY DISCLAIMS ANY, REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF ANY NATURE OR KIND
CONCERNING THE EQUIPMENT OR THE PURCHASED ASSETS, INCLUDING WITHOUT LIMITATION, ANY WARRANTY
OFMERCHANTABILITY, FITNESS FOR INTENDED PURPOSE OR OTHERWISE.

     IN WITNESS WHEREOF, Seller has executed this Bill of Sale and Assignment as of December 31,
2002.

	 	 	 	 	 
	 	MCKESSON CAPITAL CORP.

 	 
	 	By:  	 	 
	 	 	Title:	 

	 

	 	 	 	 	 
	 	Accepted and Agreed to:

GENERAL ELECTRIC CAPITAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Title:  	 
	 

B-2

 

	 	 	 	 	 

EXHIBIT C

GUARANTY

[See attached]

 

 

Exhibit C

GUARANTY OF McKESSON CORPORATION

     To: General Electric Capital Corporation

     We request you to do business with McKesson Capital Corp., a Delaware corporation (hereinafter
called “MCC”), which is a direct, wholly owned subsidiary of McKesson Corporation, a Delaware
corporation. To induce you to do so, we guarantee to you that MCC will fully and promptly perform
its obligations under (a) the Purchase Agreement dated as of the date hereof between you and MCC
(the “Purchase Agreement”) and (b) the Services Agreement dated as of the date hereof between you
and MCC (the “Services Agreement”), including, in the case of each of the Purchase Agreement and
the Services Agreement, the obligations of MCC thereunder to pay money, perform services or provide
indemnification.

     This guaranty shall terminate immediately upon an MCC Change of Control (as defined in the
Services Agreement), except to the extent of any obligations of MCC arising under the Purchase
Agreement or the Services Agreement prior thereto. Notwithstanding the foregoing, upon an MCC
Change of Control, as a condition to the termination of this guaranty we will cause MCC to provide
to you a substitute guaranty, or such other assurance, satisfactory to you that the obligations of
MCC under the Purchase Agreement and the Services Agreement will be fulfilled.

     Our obligations under this guaranty are independent of and separate from the obligations of
MCC. Upon the occurrence and during the continuance of any default by MCC, you can sue us
separately from MCC, whether or not you sue MCC in such lawsuit and whether or not you sue MCC in a
separate lawsuit. If you proceed with any course of action under this guaranty or against MCC,
that choice shall not preclude you from taking any other course of action.

     We assume all responsibility for keeping informed of (a) the financial condition and assets of
MCC, (b) all other circumstances bearing upon the risk of non-performance by MCC of its obligations
under the Purchase Agreement and the Services Agreement, and (c) the nature, scope and extent of
the risks which we assume and incur under this guaranty. We agree that you shall have no duty to
advise us of information known to you regarding such circumstances or risks. We waive notice of
your acceptance of this guaranty and of presentment, demand, protest and notice of non-performance.

     You may at any time, without our consent, without notice to us and without affecting or
impairing our obligation under this guaranty, consent to the renewal, modification or extension of
the Purchase Agreement and/or the Services Agreement by MCC, provided such renewal, modification or
extension is approved by a duly authorized representative of MCC. This guaranty constitutes the
complete understanding between you and us as to the subject matter hereof. This guaranty may be
modified only in a written document signed by the party against whom the modification is sought to
be enforced.

     The undersigned hereby represents and warrants that: (a) (i) the undersigned is a corporation,
duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation, and has the power and authority and the legal right to own and operate its property,
to lease the property it operates and to conduct the business in which it is

 

 

currently engaged and (ii) the undersigned has the power and authority and the legal right and
capacity to execute and deliver, and to perform its obligations under, this guaranty and has taken
all necessary action to authorize its execution, delivery and performance of this guaranty; and (b)
this guaranty constitutes a legal, valid and binding obligation of the undersigned enforceable in
accordance with its terms, except as affected by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting the enforcement of
creditors’ rights generally, general equitable principles and an implied covenant of good faith and
fair dealing.

     This guaranty is governed by, and shall be construed in accordance with, the laws of the State
of California.

     The undersigned may not assign any of its rights or obligations hereunder without your express
prior written consent. This guaranty may be assigned by you, without the consent of the
undersigned. The undersigned agrees that if it receives written notice of an assignment from you,
the undersigned will pay all amounts due hereunder to such assignee or as instructed by you. The
undersigned also agrees to confirm in writing receipt of the notice of assignment as may be
reasonably requested by assignee. This guaranty shall bind our successors and permitted assigns,
and shall inure to your successors and assigns.

     The undersigned agrees that its obligations under this guaranty shall be primary, absolute,
continuing and unconditional and shall be unaffected by MCC’s voluntary or involuntary bankruptcy,
assignment for the benefit of creditors, reorganization, or similar proceedings affecting MCC or
any of its assets. If, by reason of any bankruptcy, insolvency or similar laws effecting the
rights of creditors, you shall be prohibited from exercising any of your rights or remedies against
MCC or any its property, then, as between you and the undersigned, such prohibition shall be of no
force and effect, and you shall have the right to make demand upon, and receive payment from, the
undersigned of all amounts and other sums that would be due to you upon a default under the
Purchase Agreement or the Services Agreement. The undersigned agrees that this guaranty shall
remain in full force and effect or be reinstated (as the case may be) if at any time payment or
performance of any of the obligations (or any part thereof) of MCC under the Purchase Agreement or
the Services Agreement is rescinded, reduced or must otherwise be restored or returned by you, all
as though such payment or performance had not been made.

     [Remainder of page intentionally left blank]

2

 

     Executed at One Post Street, San Francisco, California and effective December 31, 2002.

Guarantor: McKesson Corporation, a Delaware Corporation

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	William R. Graber 	 
	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 
	 	By:  	 	 
	 	 	Nicholas A. Loiacono 	 
	 	 	Vice President and Treasurer
	 

3

 

	 	 	 	 	 

EXHIBIT D

SERVICES AGREEMENT

[See attached]

 

 

EXECUTION COPY

Exhibit D

SERVICES AGREEMENT

     THIS SERVICES AGREEMENT is made as of December 31, 2002 (this “Agreement”) by and between
GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“Purchaser”), and McKESSON CAPITAL
CORP., a Delaware corporation (“MCC”).

     WHEREAS, MCC is engaged in the business of financing equipment lease transactions by
purchasing equipment lease receivables from its Affiliates.

     WHEREAS, Purchaser now owns a portfolio of payment and contract rights with respect to lease
and rental agreements with commercial customers that it has purchased from MCC, pursuant to the
Purchase Agreement dated as of December 31, 2002 between Purchaser and MCC (the “Purchase
Agreement”).

     WHEREAS, Purchaser and MCC desire to enter into this Agreement pursuant to which MCC will
provide certain services to Purchaser.

     NOW, THEREFORE, in consideration of the recitals and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed
that:

     1. Definitions. Capitalized terms used herein, including in Exhibit A hereto, have the
meanings assigned to them in the preamble to this Agreement, in the Purchase Agreement or as set
forth below.

          (a) “Account Party Insurer” means any insurance company from time to time issuing one or more
insurance policies to or for the benefit of any Account Party.

          (b) “Ancillary Payments” means those payments related solely to the Ancillary Agreements.

          (c) “Customary Standard” has the meaning specified in Section 7.

          (d) “Customer Service and Collection Procedures” shall mean those procedures outlined in the
document attached as Exhibit B hereto.

          (e) “Exempt Materials” has the meaning specified in Section 10.

          (f) “Law” shall mean any law, rule, regulation or governmental requirement of any kind of any
Governmental Entity, and the rules, regulations, interpretations and orders promulgated thereunder.

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          (g) “Liquidation Proceeds” means, with respect to a Non-Performing Account, proceeds from the
sale or re-marketing of the Equipment relating solely to such Non-Performing Account, proceeds of
any related insurance policy of any Account Party Insurer and any other recoveries (other than
pursuant to any MCC Insurance Policy) with respect to such Non-Performing Account and the related
Equipment, including, without limitation, any amounts collected as judgments against an Account
Party or others related to the failure of such Account Party to pay any amount in respect of any
Payment Right under the related Account Document or to return the Equipment, net of (i) any
out-of-pocket fees and expenses reasonably incurred by MCC or any of its Affiliates in enforcing or
attempting to enforce, as agent for Purchaser, any relevant Account Document (including in the
context of a lessee bankruptcy) or in repossessing, repairing, refurbishing, preparing for sale or
lease, liquidating or re-marketing such Equipment, (ii) amounts so received that are required to be
refunded to the Account Party on such Account, and (iii) any Retained Payment Rights.

          (h) “Lockbox Account” shall mean, as of the date hereof, the lockbox account maintained by MCC
with Bank One Corporation or one of its Affiliates and to which Account Parties are directed to
remit Payments, which account shall be assigned from Seller to Purchaser in accordance with
Section 7.20 of the Purchase Agreement.

          (i) “MCC Change of Control” means an event or series of events by which MCC ceases to be a
Subsidiary of McKesson Corporation.

          (j) “MCC Event of Default” means any one of the following events (whatever the reason for such
MCC Event of Default and without regard to whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any Governmental Entity):

               (i) failure on the part of MCC to remit to the Lockbox Account any monies received by MCC and
required to be remitted to the Lockbox Account by this Agreement, in the manner and by the date
required by this Agreement, which failure continues unremedied for a period of 15 days from the
date of receipt of such monies by MCC;

               (ii) a default on the part of MCC (other than due to any reason specified in Section 19(h)
below) in its observance or performance in any material respect of certain covenants or agreements
in this Agreement which failure continues unremedied for a period of 30 days after notice is given
to MCC by Purchaser;

               (iii) if any representation or warranty of MCC made in this Agreement shall prove to be
incorrect in any material respect as of the time made; or

               (iv) an Event of Bankruptcy in respect of MCC.

          (k) “MCC Insurance Policy” means any insurance policy issued or provided by any third-party
insurer (including any McKesson Affiliate) or any self-insurance arrangement in respect of the
McKesson Affiliates, relating to property, assets, activities or businesses of any of the McKesson
Affiliates.

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          (l) “Net Worth” means, at a particular date, all amounts which would be included under the
shareholders’ equity on the consolidated balance sheet of the relevant entity principles generally
accepted in the United States.

          (m) “Non-Performing Account” means an Account (a) that has become more than ninety (90) days
delinquent, (b) that has been accelerated by MCC in accordance with the applicable Account
Documents and the customary and historic practices of MCC, (c) that MCC or Purchaser has determined
to be uncollectible in accordance with its customary and historic practices, (d) with an Account
Party in respect of which an Event of Bankruptcy has occurred and is continuing, or (e) a Default
(as defined in the applicable Account Document) occurs for any other reason and such Default
continues for ninety (90) days.

          (n) “Payment Date” means, as to any Payment, the first Business Day of the month which next
succeeds the month in which such Payment is scheduled to be received by MCC, provided such Payment
Date is at least two (2) Business Days after the date such Payment was scheduled to be received by
MCC.

          (o) “Portfolio Event of Default” means for each of three consecutive Payment Dates eight
percent (8%) or more of the Payments under the Accounts have been 90 days or more delinquent (other
than as a result of any event described in Section 19(h) below).

          (p) “Residual Interest” means, as the context may require, the actual or anticipated residual
interest of the McKesson Affiliates in respect of any Equipment.

          (q) The following capitalized terms are defined in the sections of this Agreement identified
below:

	 	 	 

	“Accessible Systems”

	 	Exhibit A, Section 7(c)
	“Management Services”

	 	Section 2(a)
	“Parent”

	 	Section 9(b)
	“Servicer Advance”

	 	Section 12(c)
	“Servicer Advance Deductions”

	 	Section 12(c)
	“Third Party Purchaser”

	 	Section 12(d)
	“Lockbox Account Sweep Date”

	 	Section 12(b)

     2. Administration Services.

          (a) Management Services. MCC shall process, administer and manage the Purchased Assets and
provide the documentation and other services described on Exhibit A hereto or otherwise provided
for in this Agreement (collectively, the “Management Services”). Purchaser and MCC shall cooperate
in good faith to develop and agree in writing to such additional procedures for the provision of
the Management Services as may become necessary to more fully effectuate the terms of this
Agreement. MCC shall have only those duties or obligations that are expressly set forth in this
Agreement.

          (b) Authorization. Subject to the provisions of this Agreement, Purchaser hereby irrevocably
(subject only to Sections 10 and 11 hereof) appoints MCC as its agent and authorizes MCC to take
any and all reasonable steps in its name and on its behalf as are

3

 

necessary or desirable to collect all amounts due under the Purchased Assets, including,
without limitation, endorsing the name of Purchaser on any of its checks and other instruments
representing collections, executing and delivering any and all instruments of satisfaction or
cancellation, or of partial or full release or discharge, and all other comparable instruments,
with respect to the Purchased Assets and, after the delinquency of any Payment and to the extent
permitted under and in compliance with applicable Law, to commence proceedings with respect to
enforcing payment thereof, all to the extent consistent with and in accordance with the Customer
Services and Collections Procedures. Purchaser shall furnish MCC with any powers of attorney and
other documents necessary or appropriate to enable MCC to carry out the Management Services, and
shall cooperate with MCC to the fullest extent in order to ensure the collectability of the
Purchased Assets.

          (c) Modification of Leases. Without the prior written consent of Purchaser, MCC shall not
terminate, waive, amend or modify any material provision of any Account Document to the extent
relating to any Payment Right, except (i) as may be required by Law, (ii) ministerial changes
necessary in order to correct inaccurate or incomplete clauses or provisions (other than clauses
and provisions related to the Payment Rights), (iii) early terminations pursuant to customer
buyouts, but subject to Section 7.17 of the Purchase Agreement, and (iv) amendments undertaken in
connection with any lease extension or upgrade, subject to Section 7.17 of the Purchase Agreement.

          (d) Obligations of MCC with Respect to Account Documents. MCC will use commercially reasonable
efforts to duly fulfill, and comply with, all obligations on MCC’s part to be fulfilled under or in
connection with the Account Documents. MCC will not (i) amend, rescind, cancel or modify any
Account Document or term or provision thereof if such amendment, rescission, cancellation or
modification would adversely affect, or reasonably be expected to adversely affect, the Payment
Rights, or (ii) take any action that would impair the rights of Purchaser in the Purchased Assets.

          (e) Cooperation. Each party agrees to cooperate with the other in the enforcement, if
necessary, of such other party’s rights under any Account Documents, whether in the form of
litigation or other proceedings, as reasonably requested by such other party. Purchaser shall be
responsible for all reasonable, out-of-pocket costs and expenses (including reasonable attorneys’
fees and costs) arising from or incurred in connection with such enforcement and shall promptly pay
to MCC upon request all of MCC’s reasonable, out-of-pocket costs and expenses relating thereto
(including reasonable attorneys’ fees and costs).

     3. Notice of MCC Event of Default; Other Requested Information. MCC shall deliver to the
Purchaser:

          (a) Notice of MCC Event of Default. Promptly upon becoming aware of the existence of any
condition or event which constitutes a MCC Event of Default, or any event which, with the lapse of
time and/or the giving of notice, would constitute a MCC Event of Default and which has not been
waived in writing by Purchaser, a written notice describing its nature and period of existence and
the action MCC is taking or proposes to take with respect thereto; and

4

 

          (b) Requested Information. With reasonable promptness, any other data and information related
solely to the Purchased Assets and the servicing thereof which may be reasonably requested from
time to time.

     4. Maintenance of Insurance Policies.

          (a) In connection with its activities as servicer of the Purchased Assets, MCC agrees to
present claims to the Account Party Insurer under any insurance policy applicable to any Purchased
Asset, and to settle, adjust and compromise such claims, in each case (i) consistent with the terms
of any relevant Account Document, (ii) after receiving notice of the occurrence of any material
casualty event involving such Equipment, and (iii) provided the applicable Account Party does not
take such action on a reasonably timely basis. MCC shall remit to the Lockbox Account, within two
(2) Business Days of receipt, any Liquidation Proceeds received by MCC in connection therewith.

          (b) MCC shall obtain evidence from each Account Party of insurance to the extent required
under the Account Documents, the Customer Service and Collection Procedures and the Customary
Standard.

          (c) Notwithstanding any other term or provision hereof to the contrary, Purchaser shall not
have any claim on account of, or direct or indirect interest in, any MCC Insurance Policy, or
proceeds thereof.

     5. Compliance with Law. MCC shall perform the Management Services and its other obligations
under this Agreement in material compliance with applicable Laws. Notwithstanding anything to the
contrary herein, MCC shall not be required to take any action, or omit to take any action, that MCC
deems to be in violation of, or inconsistent with, Law or the terms of this Agreement, the Purchase
Agreement or any Account Document or any Ancillary Agreement. MCC’s duty under this Section 5 to
comply with applicable Law shall not be limited by the procedures established and approved under
this Agreement.

     6. Independent Contractor. MCC shall at all times be considered an independent contractor in
the performance of the Management Services, and neither MCC nor any employee of MCC shall be
considered an employee, partner or joint venturer of Purchaser. Neither Purchaser nor MCC, nor any
employee or agent of either of them, shall make any representation or statement to any Person that
is inconsistent with this Section 6.

     7. Standard of Performance. CC shall perform the Management Services in a commercially
reasonable manner and shall apply at least the same standard of care, diligence and prudence in
such performance as it does with respect to its own or its Affiliates’ lease portfolios, and shall
not discriminate against Purchaser in favor of any other Person, including MCC or any Affiliate of
MCC, for whom it provides similar services, nor shall it offer priority to Purchaser (such
standard, the “Customary Standard”).

     8. Maintenance of Systems. MCC shall exercise commercially reasonable efforts to at all times
maintain or cause to be maintained such systems as are reasonably necessary to enable it to timely
and fully perform the Management Services, including, without limitation,

5

 

maintenance of computer hardware and software and appropriate information backup systems,
and shall comply with the provisions of Exhibit A hereto with respect thereto.

     9. Audit and Information Rights.

          (a) Upon the request of Purchaser, during normal business hours and upon reasonable advance
notice, and in such a manner as shall not unduly interfere with or interrupt the operation and
conduct of MCC’s other businesses, and subject to its customary security measures, MCC shall
provide representatives of Purchaser (including its internal and external auditors) no more
frequently than twice in any given 12 month period with access to the books, records, files and
papers, whether in hard copy or computer format, used or held for use by MCC in the provision of
the Management Services, to permit an audit, at the expense of Purchaser, of the Management
Services or any out-of-pocket costs required to be reimbursed to MCC by Purchaser pursuant to this
Agreement.

          (b) In the event that McKesson Corporation, the parent company of MCC (“Parent”), ceases to be
a publicly reporting company for any period of time, Parent shall provide Purchaser, during such
period, with (i) its unaudited quarterly consolidated balance sheet within forty-five (45) days of
the end of each fiscal quarter, and (ii) its audited yearly consolidated balance sheet within
ninety (90) days of the end of each fiscal year.

     10. Term of Agreement. The term of this Agreement shall commence on the date hereof and shall
continue until six (6) months after the last Account Document expires unless the parties agree in
writing to extend such term or unless this Agreement is earlier terminated pursuant to Section 11
below. Upon the termination of this Agreement, MCC shall cooperate with Purchaser in effecting an
efficient transition of the Purchased Assets, including without limitation transfer of copies of
all material records, files, computer files and information in respect of any remaining Purchased
Assets, and originals of any Account Document related solely to the Purchased Assets; provided,
however, that MCC shall be under no obligation to deliver (i) minutes of its board of directors’
meetings and information provided to its board (or that of the board of any McKesson Affiliate),
(ii) Ancillary Agreements, (iii) material subject to any legal privilege, (iv) communications with
MCC’s (or any McKesson Affiliate’s) tax or accounting advisors, (v) personnel records, or (vi) any
documents or information subject to any confidentiality arrangement with any third party to the
extent such arrangement would prohibit such transfer or disclosure (together, the “Exempt
Materials”).

     11. Termination.

          (a) Either Purchaser or MCC may terminate this Agreement due to any default in the performance
by the other party of its material obligations under this Agreement, on written notice identifying
in reasonable detail the cause for termination. Such termination shall be effective without further
action or notice by the terminating party thirty (30) days after the date of such notice, unless
prior to the expiration of such 30-day period the default or other cause is cured or remedied;
provided, however, that if such default or other cause cannot be cured or remedied with
commercially reasonable efforts within such 30-day period, the period for cure or remedy shall be
extended for thirty (30) additional days on the conditions that: (i) the non-defaulting party shall
have consented in writing to the extension of the cure period, which

6

 

consent shall not be unreasonably withheld, and (ii) the defaulting party shall have commenced
good-faith efforts to cure or remedy such default or other cause within the initial 30-day period
and shall continue to pursue such efforts diligently until the cure or remedy is accomplished.

          (b) Purchaser may terminate this Agreement (i) upon the occurrence of a MCC Event of Default
that is not cured, if a cure is available, within the applicable cure period, a MCC Change of
Control or a Portfolio Event of Default or (ii) if the Net Worth of Parent falls below $1.0
billion. Notwithstanding any provision to the contrary contained herein, in the event of any such
termination, Purchaser shall collect and promptly remit to MCC any and all amounts in respect of
any Retained Payment Rights received by Purchaser (either directly or through the Lockbox Account)
after the termination date.

          (c) Upon any termination of this Agreement (other than any termination pursuant to subsection
(a) above on account of Purchaser’s default), MCC shall reimburse to Purchaser the portion of the
Services Fee (as defined in Section 3.2 of the Purchase Agreement) which is unearned as of the date
of the termination. The portion of the Services Fee to be reimbursed to Purchaser shall equal the
unamortized portion of the Service Fee as of the termination date (calculated on a straight-line
basis based upon an annual accrual of $125,000 (or $10,417 per month)).

     12. Purchased Assets; Application of Amounts Received; Servicer Advances.

          (a) All Purchased Assets are and shall at all times be the sole and exclusive property of
Purchaser, and MCC shall not have or assert any lien, claim or other right to, or interest in, such
property of Purchaser. Upon expiration or termination of this Agreement, the originals and all
copies of such property of Purchaser shall be returned to Purchaser promptly, and MCC shall have no
right to withhold such property of Purchaser for any reason, including, without limitation, any
dispute, offset, counterclaim, recoupment, defense or other right that MCC might have against
Purchaser; provided, however, that MCC may at all times retain (i) the Exempt Materials, and (ii)
one or more copies of any documents and agreements, as may be necessary or appropriate for tax or
audit purposes or as advised by counsel.

          (b) All Payments and other property received by MCC with respect to the Purchased Assets
(other than in respect of Retained Payment Rights) shall be for the account of Purchaser, shall be
deemed received and held in trust for Purchaser and, in respect of any Payments and other property
received by MCC and not remitted by the applicable Account Party directly to the Lockbox Account,
shall be remitted by MCC to the Lockbox Account on a date not later than two (2) Business Days
following receipt of such Payment and/or other property by MCC. Subject to MCC’s removal and
refund rights described below in this subsection (b), all Payments remitted to the Lockbox Account
shall be swept from such Lockbox Account by Purchaser on the date that is two (2) Business Days
following the date of remittance of such Payments into the Lockbox Account (each such date, a
“Lockbox Account Sweep Date”), provided, however, that no Payments shall be swept from the Lockbox
Account during the first five (5) days of any calendar month. MCC shall not be entitled to set-off
from amounts to be paid by MCC to the Lockbox Account under any provision of this Agreement any
amounts purported to be owed by Purchaser or any of its Affiliates to MCC or any of its Affiliates.
Late charges related to any period prior to the date hereof shall be retained by MCC.
Late charges

7

 

related to any period on or after the date hereof shall be paid to Purchaser. On the Business
Day immediately following the date on which any Payments are remitted to the Lockbox Account, MCC
shall provide a report to Purchaser containing such information regarding all Payments and other
property remitted to the Lockbox Account on such remittance date as may be reasonably requested by
Purchaser, including, without limitation, matching such Payments and other property to the
corresponding Purchaser lease number. Notwithstanding any provision to the contrary contained
herein, subject to the terms of the Lockbox Account Documents, MCC shall at all times have the
right to direct the bank with whom the Lockbox Account is established to remove from the Lockbox
Account and to pay to MCC, without further authorization or approval from Purchaser, all amounts
deposited therein identified by the Account Party as Retained Payment Rights or to the extent such
amounts have not been identified as Payments and exceed the portion of any outstanding invoices for
Payments related to such Account Party. Purchaser agrees to execute such documents and agreements
and to take such actions as the bank may reasonably request to effectuate the removal of such
amounts from the Lockbox Account. In addition, if MCC shall determine that any other amounts in
respect of any Retained Payment Rights have been remitted to the Lockbox Account, then Purchaser
shall promptly refund the amount in respect of such Retained Payment Rights to MCC within five (5)
Business Days following receipt of written request for such refund from MCC (provided that MCC has
delivered to Purchaser reasonably satisfactory information supporting such determination by MCC).

          (c) Provided Purchaser is not required at such time to deliver to MCC the notice pursuant to
Section 18 below, MCC agrees that, with respect to each Payment Date, MCC will remit to the Lockbox
Account an amount equal to the Payments correlating thereto, less any Servicer Advance Deductions
(defined below), whether or not MCC has received payment thereof from the related Account Party,
which amount shall be deemed a full recourse loan by MCC to Purchaser (each such amount, being
referred to herein as a “Servicer Advance”); provided, however, that MCC shall not be required to
make any Servicer Advances in respect of an Account that is no longer being serviced by MCC under
this Agreement or is a Non-Performing Account by virtue of clause (b), (c) or (d) of the definition
thereof. MCC will make Servicer Advances in respect of any Account only in an amount up to the
amount equal to three (3) monthly payments for such Account. Servicer Advances will be repaid
(together with interest thereon at the rate of 4.0% percent per annum) by Purchaser on the earlier
to occur of the following: (i) the date on which a Payment is, or Payments are, as applicable,
subsequently received by MCC from an Account Party which represent such Servicer Advance (and MCC
may retain the same in satisfaction of Purchaser’s repayment obligation relating thereto, provided
that any failure by MCC to retain or net out any such amount shall not impair any right of recourse
by MCC against Purchaser for repayment of any Servicer Advance); (ii) the date on which the
servicing contemplated herein in respect of the applicable Account is terminated; (iii) provided
that MCC shall have paid Servicer Advances outstanding on such Account in an amount equal to three
(3) monthly Payments, the next succeeding Payment Date (and if to be repaid on such date, the same
may be netted out from MCC’s then scheduled remittance to Purchaser, provided that any failure by
MCC to retain or net out any such amount shall not impair any right of recourse by MCC against
Purchaser for repayment of any Servicer Advance); and (iv) five (5) Business Days following the
date on which Purchaser has determined such Account to be uncollectible in accordance with its
customary practices or MCC has determined such Account to be uncollectible in accordance with its
customary and historic practices. The

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“Servicer Advance Deductions” shall be any amounts already remitted to the Lockbox Account in
accordance with Section 12(b).

          (d) If an Account Party remits to MCC amounts that are not immediately identifiable as
Payments, and that are not immediately identifiable as payments in respect of any Retained Payment
Rights, then MCC shall apply such amounts as follows: first, to delinquent payments in the order
such payments were due and to the extent such payments were due on the same date, pro rata among
such payments, and second, so long as all payments due are current, to Purchaser and MCC (or if a
Person other than Purchaser or MCC has an interest in such amounts (a “Third Party Purchaser”), to
any such Third Party Purchaser), pro rata based on the amount of obligations then due and payable;
provided, however, that if the foregoing allocation is not reasonably acceptable to any such Third
Party Purchaser(s), Purchaser agrees to enter into good faith negotiations in respect of
modification thereof to be undertaken with reasonable promptness upon request of MCC.

          (e) If MCC receives Liquidation Proceeds in respect of any Account, MCC shall apply such
Liquidation Proceeds as follows: first, to the payment of any Taxes with respect to such Account,
second, in respect of any delinquent amounts owed to Purchaser, MCC or any Third Party Purchaser,
in the order in which such amounts became due, third, to Purchaser and to any Third Party Purchaser
who has an interest in such amounts, pro rata based on, and to the extent of, the amount of
obligations with respect to such Account then due and owing to Purchaser or such Third Party
Purchaser, and fourth, to MCC to the extent of its Residual Interest; provided, however, that if
the foregoing allocation is not reasonably acceptable to such Third Party Purchaser(s), Purchaser
agrees to enter into good faith negotiations in respect of modification thereof to be undertaken
with reasonable promptness upon request of MCC.

          (f) To the extent that MCC receives amounts relating to Taxes with respect to an Account,
whether or not constituting part of the collections relating to such Account, MCC shall cause the
same to be remitted to the relevant taxing authority in order to satisfy any valid, uncontested
obligations in respect of such Taxes. In addition, if any Account Party remits amounts relating to
Taxes to the Lockbox Account, MCC shall at all times have the right, without further authorization
or approval from Purchaser, to direct the bank with whom the Lockbox Account is established to
remove the same from the Lockbox Account and pay such amounts to MCC, and MCC shall cause such
amounts to be remitted to the relevant taxing authority in order to satisfy any valid, uncontested
obligations in respect of such Taxes. Purchaser agrees to execute such documents and agreements and
to take such actions as the bank may reasonably request to effectuate the removal of such amounts
from the Lockbox Account.

     13. Representations of MCC. MCC hereby represents and warrants to Purchaser that:

          (a) MCC is a corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware and has all requisite corporate power and authority to own its assets and
carry on its business as now being conducted and to execute, deliver and perform this Agreement.

          (b) The execution and delivery by MCC of this Agreement have been duly authorized by all
necessary corporate actions on the part of MCC, and this Agreement has been

9

 

duly and validly executed and delivered by MCC and constitutes the valid and binding
obligation of MCC enforceable against MCC in accordance with its terms.

          (c) Neither the execution and delivery by MCC of this Agreement nor compliance by MCC with the
terms and provisions thereof will conflict with or result in a breach of the provisions of MCC’s
certificate of incorporation or bylaws, any loan agreement, mortgage, indenture, security agreement
or other contract to which MCC is a party, or any law, regulation or order of any court or
government or governmental agency or instrumentality, except where such conflict or breach would
not have a material adverse effect on the business, financial condition or operations of MCC or on
the ability of MCC to consummate the transactions and perform the Management Services contemplated
by this Agreement.

     14. Representations of Purchaser. Purchaser hereby represents and warrants to MCC that:

          (a) Purchaser is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware and has all requisite corporate power and authority to own its assets
and carry on its business as now being conducted and to execute, deliver and perform this
Agreement.

          (b) The execution and delivery by Purchaser of this Agreement have been duly authorized by all
necessary corporate action on the part of Purchaser, and this Agreement has been duly and validly
executed and delivered by Purchaser and constitutes the valid and binding obligation of Purchaser
enforceable against Purchaser in accordance with its terms.

          (c) Neither the execution and delivery by Purchaser of this Agreement nor compliance by
Purchaser with the terms and provisions thereof will conflict with or result in a breach of the
provisions of Purchaser’s certificate of incorporation or bylaws, any loan agreement, mortgage,
indenture, security agreement or other contract to which Purchaser is a party, or any law,
regulation, or order of any court or government or governmental agency or instrumentality, except
where such conflict or breach would not have a material adverse effect on the business, financial
condition or operations of Purchaser or on the ability of Purchaser to consummate the transactions
contemplated by this Agreement.

     15. Late Payments. If MCC fails to pay any amount that may become due to Purchaser hereunder
on its due date, then (i) interest shall accrue thereon from the due date until paid in full at a
rate equal to 4% per annum, and (ii) MCC shall reimburse Purchaser upon demand for any and all
collection costs (including, without limitation, reasonable attorneys’ fees) incurred by Purchaser.

     16. Trademark Licenses.

          (a) McKesson Automation Inc., a Pennsylvania corporation and an Affiliate of MCC (“MAH”), owns
or has the right to use the trade name and corporate name “McKesson Automated Healthcare” in both
block letter and stylized formats, and the MAH logo, and the marks set forth on Exhibit D hereto
(collectively, the “MAH Trademarks”). Promptly after the Closing Date, MCC will use its reasonable
best efforts to cause MAH to grant to Purchaser a personal, royalty-free, non-transferable,
limited, non-exclusive license to use the MAH

10

 

Trademarks as necessary in order to perform servicing responsibilities hereunder if and when
assumed by Purchaser. Purchaser’s use of the MAH Trademarks shall be consistent with the terms
provided and be in compliance with applicable law.

          (b) McKesson Automation Systems Inc., a Louisiana corporation and an Affiliate of MCC (“MAS”),
owns or has the right to use the trade name and corporate name “McKesson Automation Systems” in
both block letter and stylized formats, and the MAS logo, and the marks set forth on Exhibit D
hereto (collectively, the “MAS Trademarks”). Promptly after the Closing Date, MCC will use its
reasonable best efforts to cause MAS to grant to Purchaser a personal, royalty-free,
non-transferable, limited, non-exclusive license to use the MAS Trademarks as necessary in order to
perform servicing responsibilities hereunder if and when assumed by Purchaser. Purchaser’s use of
the MAS Trademarks shall be consistent with the terms provided and be in compliance with applicable
law.

          (c) All use of the MAS Trademarks and the MAH Trademarks shall inure to the benefit of MAS and
MAH, as applicable, and Purchaser shall acquire no rights in the MAS Trademarks or the MAH
Trademarks by virtue of its use. Purchaser shall not use the Trademarks in conjunction with any
other name, term or mark so as to form a combination mark. The licenses granted under subsections
(a) and (b) of this Section 16 are personal to Purchaser and shall terminate upon the termination
of this Agreement or any assignment or transfer by Purchaser of its rights or obligations under
this Agreement, except to a Permitted Assignee who is an Affiliate of Purchaser upon notice thereof
from Purchaser to MCC.

     17. Notices. All notices, consents and other communications hereunder shall be in writing and
shall be deemed to have been duly given (a) when delivered by hand or by Federal Express or a
similar overnight courier to, or (b) when successfully transmitted by telecopier to, the party for
whom intended, at the address or telecopier number for such party set forth below (or at such other
address or telecopier number for a party as shall be specified by like notice, provided, however,
that any notice of change of address or telecopier number shall be effective only upon receipt):

	 	 	 	If to MCC:
	 
	 	 	 	McKesson Capital Corp.

One Post Street

San Francisco, California 94104

Telephone No. (415) 983-9339

Telecopy No. (415) 983-8826

Attention: Nicholas Loiacono, Vice President and Treasurer
	 
	 	 	 	with a copy to:
	 
	 	 	 	McKesson Corporation

One Post Street

San Francisco, California 94104

Telephone No. (415) 983-8319

11

 

	 	 	 	Telecopy No. (415) 983-8826

Attention: Ivan Meyerson, General Counsel

	 
	 	 	 	If to Purchaser:
	 
	 	 	 	GE Capital Healthcare Financial Services

20225 Watertower Blvd., Suite 300

Brookfield, Wisconsin 53045

Telephone No. (262) 798-4500

Telecopy No. (262) 798-4530

Attention: Richard Berger

	 
	 	 	 	with a copy to:
	 
	 	 	 	GE Capital Healthcare Financial Services

20225 Watertower Blvd., Suite 300

Brookfield, Wisconsin 53045

Telephone No. (262) 798-4611

Telecopy No. (262) 798-4590

Attention: Carlos Carrasquillo,

	 	 	 	General Counsel, Equipment Finance

     18. Purchaser Net Worth Reporting Requirement. Purchaser shall deliver immediate written
notice to MCC in the event that Purchaser’s net worth at any time is equal to or less than $10.0
billion.

     19. Miscellaneous.

          (a) This Agreement contains the entire understanding of the parties with respect to the
subject matter hereof. There are no restrictions, promises, warranties, covenants or undertakings
other than those expressly set forth in this Agreement. This Agreement supersedes all prior
negotiations, agreements and undertakings between the parties with respect to such subject matter.

          (b) No amendment of this Agreement shall be effective unless in writing and signed by MCC and
Purchaser.

          (c) This Agreement may be executed in several counterparts, each of which shall be deemed an
original, but such counterparts shall together constitute but one and the same agreement. Each of
the parties to this Agreement agrees that a signature affixed to a counterpart of this Agreement
and delivered by facsimile by any person is intended to be its, her or his signature and shall be
valid, binding and enforceable against such person.

          (d) This Agreement shall be governed by, and construed and interpreted in accordance with, the
laws of the State of New York applicable to contracts made and wholly performed within such state.

12

 

          (e) Each of the parties hereto hereby expressly and irrevocably submits to the exclusive
personal jurisdiction of the United States District Court for the Southern District of New York and
to the jurisdiction of any other competent court of the State of New York. Each party irrevocably
consents to the service of process outside the territorial jurisdiction of the foregoing courts in
any such action or proceeding by mailing copies thereof by registered United States mail, postage
prepaid, return receipt requested, to its address as specified in or pursuant to Section 17 hereof.
However, the foregoing shall not limit the right of a party to effect service of process on the
other party by any other legally available method.

          (f) Neither this Agreement nor any of the rights, interests or obligations hereunder shall be
assigned by any of the parties hereto (whether by operation of Law or otherwise) without the prior
written consent of the other party; provided, however, that Purchaser may assign its rights
hereunder to a Permitted Assignee without the consent of MCC. Subject to the preceding sentence,
this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and
their respective permitted successors and assigns.

          (g) If any term, provision, covenant or restriction of this Agreement is held by a court of
competent jurisdiction or other authority to be invalid, void, unenforceable or against its
regulatory policy, the remainder of the terms, provisions, covenants and restrictions of this
Agreement shall remain in full force and effect and shall in no way be affected, impaired or
invalidated.

          (h) Neither party shall be responsible for delays or failure of performance resulting from
acts of God, strikes, walkouts, riots, acts of war, acts of terrorism, epidemics, governmental
regulations and power failure.

          (i) Each party shall be responsible for the payment of its own attorneys’ fees, expenses and
any other costs incurred in connection with the negotiation and closing of the transactions
contemplated by this Agreement and any other documents executed in connection herewith.

          (j) All representations, warranties and indemnities contained in this Agreement (and any other
agreement delivered pursuant hereto), all of the Purchaser’s obligations under Sections 11(b),
11(c), 12(d), 12(e) and 16 of this Agreement and all of MCC’s obligations under Sections 2(d), 10,
11(c), 12(a), 12(b), 12(d), 12(e), 12(f), 15 and 16 of this Agreement shall survive the termination
for this Agreement.

     20. Jury Trial Waiver. EACH OF THE PARTIES HERETO KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR
ARISING OUT OF UNDER, OR IN CONNETION WITH, THIS AGREEMENT OR ANY EXHIBIT OR OTHER ATTACHMENT
HERETO, OR ANY COURSE OF CONDUCT, COURSE OF DEALING OR STATEMENTS (WHETHER VERBAL OR WRITTEN)
RELATING TO THE FOREGOING. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES HERETO TO ENTER
INTO THIS AGREEMENT.

13

 

[SIGNATURES APPEAR ON NEXT PAGE]

14

 

     IN WITNESS WHEREOF, the parties have duly executed this Services Agreement as of the date
first written above.

	 	 	 	 	 
	 	MCKESSON CAPITAL CORP:

 	 
	 	By:  	 	 
	 	 	Its:  Vice President and Treasurer 	 
	 	 	 	 
	 
	 	GENERAL ELECTRIC CAPITAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Its:  General Manager, Healthcare 	 
	 	 	Financial Services Equipment Finance 	 

Signature
Page to
Service Agreement

 

 

EXHIBIT E

POST-CLOSING PARENT GUARANTY

 

 

Exhibit E

GUARANTY OF McKESSON CORPORATION

     To: General Electric Capital Corporation

     We request you to do business with McKesson Capital Corp., a Delaware corporation (hereinafter
called “MCC”), which is a direct, wholly owned subsidiary of McKesson Corporation, a Delaware
corporation. To induce you to do so, we guarantee to you that MCC will fully and promptly perform
its obligations under (a) the Purchase Agreement dated as of the date hereof between you and MCC
(the “Purchase Agreement”) and (b) the Services Agreement dated as of the date hereof between you
and MCC (the “Services Agreement”), including, in the case of each of the Purchase Agreement and
the Services Agreement, the obligations of MCC thereunder to pay money, perform services or provide
indemnification.

     This guaranty shall terminate immediately upon an MCC Change of Control (as defined in the
Services Agreement), except to the extent of any obligations of MCC arising under the Purchase
Agreement or the Services Agreement prior thereto. Notwithstanding the foregoing, upon an MCC
Change of Control, as a condition to the termination of this guaranty we will cause MCC to provide
to you a substitute guaranty, or such other assurance, satisfactory to you that the obligations of
MCC under the Purchase Agreement and the Services Agreement will be fulfilled.

     Our obligations under this guaranty are independent of and separate from the obligations of
MCC. Upon the occurrence and during the continuance of any default by MCC, you can sue us
separately from MCC, whether or not you sue MCC in such lawsuit and whether or not you sue MCC in a
separate lawsuit. If you proceed with any course of action under this guaranty or against MCC,
that choice shall not preclude you from taking any other course of action.

     We assume all responsibility for keeping informed of (a) the financial condition and assets of
MCC, (b) all other circumstances bearing upon the risk of non-performance by MCC of its obligations
under the Purchase Agreement and the Services Agreement, and (c) the nature, scope and extent of
the risks which we assume and incur under this guaranty. We agree that you shall have no duty to
advise us of information known to you regarding such circumstances or risks. We waive notice of
your acceptance of this guaranty and of presentment, demand, protest and notice of non-performance.

     You may at any time, without our consent, without notice to us and without affecting or
impairing our obligation under this guaranty, consent to the renewal, modification or extension of
the Purchase Agreement and/or the Services Agreement by MCC, provided such renewal, modification or
extension is approved by a duly authorized representative of MCC. This guaranty constitutes the
complete understanding between you and us as to the subject matter hereof. This guaranty may be
modified only in a written document signed by the party against whom the modification is sought to
be enforced.

     The undersigned hereby represents and warrants that: (a) (i) the undersigned is a corporation,
duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation, and has the power and authority and the legal right to own and operate its property,
to lease the property it operates and to conduct the business in which it is

 

 

currently engaged and (ii) the undersigned has the power and authority and the legal right and
capacity to execute and deliver, and to perform its obligations under, this guaranty and has taken
all necessary action to authorize its execution, delivery and performance of this guaranty; and (b)
this guaranty constitutes a legal, valid and binding obligation of the undersigned enforceable in
accordance with its terms, except as affected by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting the enforcement of
creditors’ rights generally, general equitable principles and an implied covenant of good faith and
fair dealing.

     This guaranty is governed by, and shall be construed in accordance with, the laws of the State
of California.

     The undersigned may not assign any of its rights or obligations hereunder without your express
prior written consent. This guaranty may be assigned by you, without the consent of the
undersigned. The undersigned agrees that if it receives written notice of an assignment from you,
the undersigned will pay all amounts due hereunder to such assignee or as instructed by you. The
undersigned also agrees to confirm in writing receipt of the notice of assignment as may be
reasonably requested by assignee. This guaranty shall bind our successors and permitted assigns,
and shall inure to your successors and assigns.

     The undersigned agrees that its obligations under this guaranty shall be primary, absolute,
continuing and unconditional and shall be unaffected by MCC’s voluntary or involuntary bankruptcy,
assignment for the benefit of creditors, reorganization, or similar proceedings affecting MCC or
any of its assets. If, by reason of any bankruptcy, insolvency or similar laws effecting the
rights of creditors, you shall be prohibited from exercising any of your rights or remedies against
MCC or any its property, then, as between you and the undersigned, such prohibition shall be of no
force and effect, and you shall have the right to make demand upon, and receive payment from, the
undersigned of all amounts and other sums that would be due to you upon a default under the
Purchase Agreement or the Services Agreement. The undersigned agrees that this guaranty shall
remain in full force and effect or be reinstated (as the case may be) if at any time payment or
performance of any of the obligations (or any part thereof) of MCC under the Purchase Agreement or
the Services Agreement is rescinded, reduced or must otherwise be restored or returned by you, all
as though such payment or performance had not been made.

     Executed at One Post Street, San Francisco, California and effective December ___, 2002

Guarantor: McKesson Corporation, a Delaware Corporation

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	William R. Graber 	 
	 	 	Senior Vice President and Chief Financial Officer 	 

2

 

	 	 	 	 	 

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Nicholas A. Loiacono 	 
	 	 	Vice President and Treasurer 	 
	 

3

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