Document:

exv10w1

Exhibit 10.1

 

CREDIT AGREEMENT

among

DHM HOLDING COMPANY, INC.,

DOLE HOLDING COMPANY, LLC,

DOLE FOOD COMPANY, INC.,

SOLVEST, LTD.,

VARIOUS LENDING INSTITUTIONS,

DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent and as Deposit Bank,

BANC OF AMERICA SECURITIES LLC,

as Syndication Agent,

and

THE BANK OF NOVA SCOTIA

and

RABOBANK INTERNATIONAL,

as Co-Documentation Agents

Dated as of March 28, 2003,

Amended and Restated as of April 18, 2005

and further Amended and Restated as of April 12, 2006

 

DEUTSCHE BANK SECURITIES INC.,

as Lead Arranger and Sole Book Runner

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	Section 1. Amount and Terms of Credit
	 	 	1	 
	 
	 	 	 	 
	1.01 Commitments
	 	 	1	 
	1.02 Minimum Borrowing Amounts, etc.
	 	 	4	 
	1.03 Notice of Borrowing
	 	 	4	 
	1.04 Disbursement of Funds
	 	 	5	 
	1.05 Notes
	 	 	6	 
	1.06 Conversions
	 	 	7	 
	1.07 Pro Rata Borrowings
	 	 	8	 
	1.08 Interest
	 	 	8	 
	1.09 Interest Periods
	 	 	9	 
	1.10 Increased Costs; Illegality; etc.
	 	 	10	 
	1.11 Compensation
	 	 	13	 
	1.12 Change of Lending Office
	 	 	14	 
	1.13 Replacement of Lenders
	 	 	15	 
	1.14 Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event
	 	 	16	 
	1.15 Incremental Term Loan Commitments
	 	 	19	 
	 
	 	 	 	 
	Section 2.
	 	 	22	 
	 
	 	 	 	 
	Section 2A. Letters of Credit
	 	 	22	 
	 
	 	 	 	 
	2A.01 Letters of Credit
	 	 	22	 
	2A.02 Minimum Stated Amount
	 	 	24	 
	2A.03 Letter of Credit Requests
	 	 	25	 
	2A.04 Letter of Credit Participations
	 	 	25	 
	2A.05 Agreement to Repay Letter of Credit Drawings
	 	 	28	 
	2A.06 Increased Costs
	 	 	29	 
	 
	 	 	 	 
	Section 2B. Bank Guaranties
	 	 	30	 
	 
	 	 	 	 
	2B.01 Bank Guaranties
	 	 	30	 
	2B.02 Minimum Face Amount
	 	 	37	 
	2B.03 Bank Guaranty Requests
	 	 	37	 
	2B.04 Bank Guaranty Participations
	 	 	33	 
	2B.05 Agreement to Repay Bank Guaranty Payments
	 	 	35	 
	2B.06 Increased Costs
	 	 	37	 
	2B.07 Cash Collateralization
	 	 	38	 
	 
	 	 	 	 
	Section 2C. Special Provisions
	 	 	38	 
	 
	 	 	 	 
	2C.01 Credit-Linked Deposit Account
	 	 	38	 
	2C.02 European Monetary Union
	 	 	40	 
	2C.03 Special Provisions Regarding Non-Dollar Denominated Letters of Credit and
Non-Dollar Denominated Bank Guaranties
	 	 	40	 
	2C.04 Special Provisions Regarding Return Of Credit-Linked Deposits
	 	 	41	 

 (i)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page
	Section 3. Fees; Commitments
	 	 	42	 
	 
	 	 	 	 
	3.01 Fees
	 	 	42	 
	3.02 Voluntary Termination or Reduction of Commitments and Adjustments of Commitments
	 	 	45	 
	3.03 Mandatory Reduction of Commitments
	 	 	46	 
	 
	 	 	 	 
	Section 4. Prepayments; Repayments; Taxes
	 	 	48	 
	 
	 	 	 	 
	4.01 Voluntary Prepayments
	 	 	48	 
	4.02 Mandatory Repayments and Commitment Reductions
	 	 	49	 
	4.03 Method and Place of Payment
	 	 	58	 
	4.04 Net Payments
	 	 	58	 
	 
	 	 	 	 
	Section 5. Conditions Precedent to Credit Events on the Restatement Effective Date
	 	 	60	 
	 
	 	 	 	 
	5.01 Execution of Agreement; Notes
	 	 	60	 
	5.02 Officer’s Certificate
	 	 	60	 
	5.03 Opinions of Counsel
	 	 	61	 
	5.04 Company Documents; Proceedings
	 	 	61	 
	5.05 Adverse Change, etc.
	 	 	62	 
	5.06 Litigation
	 	 	62	 
	5.07 Approvals
	 	 	62	 
	5.08 Refinancing; Original Credit Agreement; etc.
	 	 	62	 
	5.09 Outstanding Indebtedness and Preferred Equity
	 	 	64	 
	5.10 U.S. Subsidiaries Guaranty; Intercompany Subordination Agreement Acknowledgement
	 	 	64	 
	5.11 U.S. Security Documents
	 	 	65	 
	5.12 Foreign Security Document Acknowledgements and Amendments
	 	 	66	 
	5.13 Shareholders’ Agreements; Management Agreements; Existing Indebtedness
Agreements; and Tax Allocation Agreements
	 	 	67	 
	5.14 Solvency Certificate
	 	 	68	 
	5.15 Financial Statements; Pro Forma Financial Statements; Projections
	 	 	69	 
	5.16 Payment of Fees
	 	 	69	 
	5.17 Consent Letter
	 	 	69	 
	5.18 Intercreditor Agreement
	 	 	69	 
	 
	 	 	 	 
	Section 6. Conditions Precedent to All Credit Events
	 	 	69	 
	 
	 	 	 	 
	6.01 No Default; Representations and Warranties
	 	 	70	 
	6.02 Notice of Borrowing; Letter of Credit Request; etc.
	 	 	70	 
	6.03 Incremental Term Loans
	 	 	70	 
	 
	 	 	 	 
	Section 7. Representations and Warranties
	 	 	70	 
	 
	 	 	 	 
	7.01 Company Status
	 	 	71	 
	7.02 Company Power and Authority
	 	 	71	 
	7.03 No Violation
	 	 	71	 
	7.04 Litigation
	 	 	72	 

(ii)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page
	7.05 Use of Proceeds; Margin Regulations
	 	 	72	 
	7.06 Governmental Approvals
	 	 	73	 
	7.07 Investment Company Act
	 	 	73	 
	7.08 Public Utility Holding Company Act
	 	 	73	 
	7.09 True and Complete Disclosure
	 	 	73	 
	7.10 Financial Condition; Financial Statements
	 	 	74	 
	7.11 Security Interests
	 	 	75	 
	7.12 Compliance with ERISA
	 	 	75	 
	7.13 Capitalization
	 	 	77	 
	7.14 Subsidiaries
	 	 	78	 
	7.15 Intellectual Property, etc.
	 	 	78	 
	7.16 Compliance with Statutes; Agreements, etc.
	 	 	78	 
	7.17 Environmental Matters
	 	 	78	 
	7.18 Properties
	 	 	79	 
	7.19 Labor Relations
	 	 	80	 
	7.20 Tax Returns and Payments
	 	 	80	 
	7.21 Scheduled Existing Indebtedness
	 	 	80	 
	7.22 Insurance
	 	 	81	 
	7.23 Transaction
	 	 	81	 
	7.24 Special Purpose Corporations
	 	 	81	 
	7.25 Subordination
	 	 	82	 
	 
	 	 	 	 
	Section 8. Affirmative Covenants
	 	 	83	 
	 
	 	 	 	 
	8.01 Information Covenants
	 	 	83	 
	8.02 Books, Records and Inspections
	 	 	88	 
	8.03 Insurance
	 	 	88	 
	8.04 Payment of Taxes
	 	 	89	 
	8.05 Existence; Franchises
	 	 	89	 
	8.06 Compliance with Statutes; etc.
	 	 	90	 
	8.07 Compliance with Environmental Laws
	 	 	90	 
	8.08 ERISA
	 	 	91	 
	8.09 Good Repair
	 	 	92	 
	8.10 End of Fiscal Years; Fiscal Quarters
	 	 	92	 
	8.11 Additional Security; Additional Guaranties; Actions with Respect to Non-Guarantor Subsidiaries; Further Assurances
	 	 	92	 
	8.12 Foreign Subsidiaries Security
	 	 	98	 
	8.13 Use of Proceeds
	 	 	100	 
	8.14 Ownership of Subsidiaries
	 	 	100	 
	8.15 Permitted Acquisitions
	 	 	100	 
	8.16 Maintenance of Company Separateness
	 	 	102	 
	8.17 Performance of Obligations
	 	 	102	 
	8.18 Conduct of Business
	 	 	102	 
	8.19 Margin Stock
	 	 	104	 
	8.20 Foreign Security Document Amendments
	 	 	104	 
	8.21 Refinancing
	 	 	105	 

 (iii)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page
	Section 9. Negative Covenants
	 	 	105	 
	 
	 	 	 	 
	9.01 Changes in Business; etc.
	 	 	105	 
	9.02 Consolidation; Merger; Sale or Purchase of Assets; etc.
	 	 	109	 
	9.03 Liens
	 	 	113	 
	9.04 Indebtedness
	 	 	117	 
	9.05 Advances; Investments; Loans
	 	 	122	 
	9.06 Restricted Payments; etc.
	 	 	127	 
	9.07 Transactions with Affiliates
	 	 	132	 
	9.08 Limitation on Voluntary Payments and Modifications of
Indebtedness; Modifications of Certificate of Incorporation, By-Laws
and Certain Other Agreements; Issuances of Capital Stock; etc.
	 	 	132	 
	9.09 Limitation on Issuance of Equity Interests
	 	 	133	 
	9.10 Limitation on Certain Restrictions on Subsidiaries
	 	 	134	 
	9.11 Limitation on the Creation of Subsidiaries and Joint Ventures
	 	 	135	 
	9.12 Special Restrictions Relating to Principal Property
	 	 	136	 
	 
	 	 	 	 
	Section 10. Events of Default
	 	 	137	 
	 
	 	 	 	 
	10.01 Payments
	 	 	137	 
	10.02 Representations, etc.
	 	 	137	 
	10.03 Covenants
	 	 	137	 
	10.04 Default Under Other Agreements
	 	 	138	 
	10.05 Bankruptcy, etc.
	 	 	138	 
	10.06 ERISA
	 	 	138	 
	10.07 Security Documents
	 	 	139	 
	10.08 Guaranties
	 	 	139	 
	10.09 Judgments
	 	 	140	 
	10.10 Ownership
	 	 	140	 
	10.11 Denial of Liability
	 	 	140	 
	10.12 Governmental Action
	 	 	140	 
	10.13 Special Defaults Relating to Bermuda Entities
	 	 	141	 
	 
	 	 	 	 
	Section 11. Definitions
	 	 	147	 
	 
	 	 	 	 
	Section 12. The Agents
	 	 	202	 
	 
	 	 	 	 
	12.01 Appointment
	 	 	202	 
	12.02 Nature of Duties
	 	 	203	 
	12.03 Certain Rights of the Agents
	 	 	204	 
	12.04 Reliance by Agents
	 	 	204	 
	12.05 Notice of Default, etc.
	 	 	204	 
	12.06 Nonreliance on Agents and Other Lenders
	 	 	205	 
	12.07 Indemnification
	 	 	205	 
	12.08 Agents in their Individual Capacities
	 	 	206	 
	12.09 Holders
	 	 	206	 
	12.10 Resignation of the Agents
	 	 	206	 

 (iv)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page
	12.11 Collateral Matters
	 	 	207	 
	12.12 Delivery of Information
	 	 	208	 
	12.13 Special Appointment of Collateral Agent (Germany)
	 	 	209	 
	12.14 Special Provisions Relating to Canadian Security Documents
	 	 	209	 
	12.15 Special Appointment of Collateral Agent (Italy)
	 	 	210	 
	12.16 Continuing Indemnities for Original Agents
	 	 	211	 
	 
	 	 	 	 
	Section 13. Miscellaneous
	 	 	211	 
	 
	 	 	 	 
	13.01 Payment of Expenses, etc.
	 	 	211	 
	13.02 Right of Setoff
	 	 	213	 
	13.03 Notices
	 	 	214	 
	13.04 Benefit of Agreement
	 	 	214	 
	13.05 No Waiver; Remedies Cumulative
	 	 	217	 
	13.06 Payments Pro Rata
	 	 	217	 
	13.07 Calculations; Computations
	 	 	218	 
	13.08 Governing Law; Submission to Jurisdiction; Venue
	 	 	218	 
	13.09 Counterparts
	 	 	219	 
	13.10 Effectiveness
	 	 	219	 
	13.11 Headings Descriptive
	 	 	220	 
	13.12 Amendment or Waiver; etc.
	 	 	220	 
	13.13 Survival
	 	 	223	 
	13.14 Domicile of Loans and Commitments
	 	 	223	 
	13.15 Confidentiality
	 	 	224	 
	13.16 Waiver of Jury Trial
	 	 	225	 
	13.17 Register
	 	 	225	 
	13.18 English Language
	 	 	226	 
	13.19 Special Provisions Regarding Pledges of Equity Interests in,
and Promissory Notes Owed by, Persons Not Organized in Qualified
Jurisdictions
	 	 	226	 
	13.20 Powers of Attorney; etc.
	 	 	227	 
	13.21 Waiver of Sovereign Immunity
	 	 	228	 
	13.22 Judgment Currency
	 	 	228	 
	13.23 Special Acknowledgments
	 	 	229	 
	13.24 Special Provisions Relating to Amendment and Restatement
	 	 	229	 
	13.25 USA Patriot Act
	 	 	230	 
	13.26 Other Liens on Collateral; Terms of Intercreditor Agreement; Etc.
	 	 	230	 
	13.27 Post-Closing Actions
	 	 	231	 
	 
	 	 	 	 
	Section 14. Credit Agreement Party Guaranty
	 	 	232	 
	 
	 	 	 	 
	14.01 The Guaranty
	 	 	232	 
	14.02 Bankruptcy
	 	 	233	 
	14.03 Nature of Liability
	 	 	233	 
	14.04 Independent Obligation
	 	 	233	 
	14.05 Authorization
	 	 	233	 
	14.06 Reliance
	 	 	234	 
	14.07 Subordination
	 	 	234	 

 (v)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page
	14.08 Waiver
	 	 	235	 
	14.09 Payments
	 	 	237	 

 (vi)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	Schedule I

	 	—
	 	List of Lenders and Commitments
	Schedule II

	 	—
	 	Lender Addresses
	Schedule III

	 	—
	 	Real Properties
	Schedule IV

	 	—
	 	Scheduled Existing Indebtedness
	Schedule V

	 	—
	 	Pension Plans
	Schedule VI

	 	—
	 	Existing Investments
	Schedule VII

	 	—
	 	Subsidiaries
	Schedule VIII

	 	—
	 	Insurance
	Schedule IX

	 	—
	 	Existing Liens
	Schedule X

	 	—
	 	Capitalization
	Schedule XI

	 	—
	 	Existing Letters of Credit
	Schedule XII

	 	—
	 	Certain Foreign Security Documents, Foreign Subsidiaries Party to
Foreign Security Documents, etc.
	Schedule XIII

	 	—
	 	Non-Guarantor Subsidiaries; Excluded Foreign Subsidiaries
	Schedule XIV

	 	—
	 	Transactions with Affiliates
	Schedule XV

	 	—
	 	Principal Properties
	Schedule XVI

	 	—
	 	Tax Matters
	Schedule XVII

	 	—
	 	Initial Qualified Jurisdictions
	Schedule XVIII

	 	—
	 	Post-Closing Matters

 (vii)

 

 

Table of Contents

(continued)

	 	 	 	 	 
	Exhibit A-1

	 	—
	 	Form of Notice of Borrowing
	Exhibit A-2

	 	—
	 	Form of Notice of Conversion/Continuation
	Exhibit B-1

	 	—
	 	Form of Tranche B Term Note
	Exhibit B-2

	 	—
	 	Form of Tranche C Term Note
	Exhibit B-3

	 	—
	 	Form of Incremental Term Note
	Exhibit C-1

	 	—
	 	Form of Letter of Credit Request
	Exhibit C-2

	 	—
	 	Form of Bank Guaranty Request
	Exhibit D

	 	—
	 	Form of Section 4.04(b)(ii) Certificate
	Exhibit E-1

	 	—
	 	Form of Opinion of Paul, Hastings, Janofsky & Walker LLP
	Exhibit E-2

	 	—
	 	Form of Opinion of Appleby, Spurling Hunter
	Exhibit F

	 	—
	 	Form of Officers’ Certificate
	Exhibit G-1

	 	—
	 	Form of U.S. Subsidiaries Guaranty
	Exhibit G-2

	 	—
	 	Form of Foreign Subsidiaries Guaranty Acknowledgment
	Exhibit G-3

	 	—
	 	Form of Foreign Subsidiaries Guaranty
	Exhibit H-1

	 	—
	 	Form of U.S. Pledge Agreement
	Exhibit H-2

	 	—
	 	Form of U.S. Security Agreement
	Exhibit I

	 	—
	 	Form of Solvency Certificate
	Exhibit J

	 	—
	 	Form of Assignment and Assumption Agreement
	Exhibit K

	 	—
	 	Form of Intercompany Note
	Exhibit L

	 	—
	 	Form of Shareholder Subordinated Note
	Exhibit M

	 	—
	 	Form of Special Colombian Put Note
	Exhibit N

	 	—
	 	Form of Consent Letter
	Exhibit O-1

	 	—
	 	Form of Intercompany Subordination Acknowledgment
	Exhibit O-2

	 	—
	 	Form of Intercompany Subordination Agreement
	Exhibit P

	 	—
	 	Form of Incremental Term Loan Commitment Agreement
	Exhibit Q

	 	—
	 	Form of Intercreditor Agreement

 (viii)

 

 

          CREDIT AGREEMENT, dated as of March 28, 2003, amended and restated as of April 18, 2005 and
further amended and restated as of April 12, 2006, among DHM HOLDING COMPANY, INC., a Delaware
corporation (“Holdings”), DOLE HOLDING COMPANY, LLC, a Delaware limited liability company
(“Intermediate Holdco”), DOLE FOOD COMPANY, INC., a Delaware corporation (the “U.S.
Borrower”), SOLVEST, LTD., a company organized under the laws of Bermuda (the “Bermuda
Borrower” and, together with the U.S. Borrower, the “Borrowers”), the Lenders from time to time
party hereto, DEUTSCHE BANK AG NEW YORK BRANCH, as Deposit Bank (in such capacity, the “Deposit
Bank”), DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent (in such capacity, the
“Administrative Agent”), BANC OF AMERICA SECURITIES LLC, as Syndication Agent (in such
capacity, the “Syndication Agent”), THE BANK OF NOVA SCOTIA and RABOBANK INTERNATIONAL, as
Co-Documentation Agents (in such capacity, each, a “Co-Documentation Agent” and,
collectively, the “Co-Documentation Agents”) and DEUTSCHE BANK SECURITIES INC., as Lead
Arranger and Sole Book Runner (in such capacity, the “Lead Arranger”). Unless otherwise
defined herein, all capitalized terms used herein and defined in Section 11 are used herein as so
defined.

W I T N E S S E T H:

          WHEREAS, Holdings, Intermediate Holdco, the Borrowers, the Original Lenders, Deutsche Bank AG
New York Branch, as Administrative Agent, Banc of America Securities LLC and The Bank of Nova
Scotia, as Co-Syndication Agents, Fortis Capital Corporation, Harris Trust and Savings Bank and
Rabobank International, as Co-Documentation Agents and Deutsche Bank Securities Inc., Banc of
America Securities LLC and The Bank of Nova Scotia, as Joint Lead Arrangers, are party to a Credit
Agreement, dated as of March 28, 2003 and amended and restated as of April 18, 2005 (as the same
has been further amended, restated, modified and/or supplemented to, but not including, the
Restatement Effective Date, the “Original Credit Agreement”);

          WHEREAS, the parties hereto wish to amend and restate the Original Credit Agreement in the
form of this Agreement; and

          NOW, THEREFORE, the parties hereto agree that, effective as of the Restatement Effective
Date, the Original Credit Agreement shall be, and hereby is, amended and restated in its entirety
as follows:

          Section 1. Amount and Terms of Credit.

          1.01 Commitments. (a) Tranche B Term Loans. Subject to and upon the terms and
conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to
make a term loan (each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term
Loans”) to the U.S. Borrower, which Tranche B Term Loans:

     (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the
Restatement Effective Date for the purposes described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

 

 

     (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be
incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar Loans;
provided (A) except as otherwise specifically provided in Section 1.10(b), all
Tranche B Term Loans made as part of the same Borrowing shall at all times consist of Tranche
B Term Loans of the same Type and (B) unless the Administrative Agent has determined that the
Syndication Date has occurred (at which time this clause (B) shall no longer be applicable),
no more than four Borrowings of Tranche B Term Loans to be maintained as Eurodollar Loans may
be incurred prior to the 30th day after the Restatement Effective Date (or, if later, the
last day of the Interest Period applicable to the fourth Borrowing of Eurodollar Loans
referred to below), each of which Borrowings of Eurodollar Loans may only have an Interest
Period of one week, and the first of which Borrowings may be made no earlier than the third
Business Day, and no later than the fifth Business Day, after the Restatement Effective Date,
the second of which Borrowings may only be made on the last day of the Interest Period of the
first such Borrowing, the third of which Borrowings may only be made on the last day of the
Interest Period of the second such Borrowing and the fourth of which Borrowings may only be
made on the last day of the Interest Period of the third such Borrowing; and

     (iv) shall be made by each Lender in that initial aggregate principal amount as is
equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date
(before giving effect to the termination thereof on such date pursuant to Section 3.03(b)).

Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

          (b) Tranche C Term Loans. Subject to and upon the terms and conditions set forth
herein, (I) each Consenting Tranche C Term Loan Lender severally agrees that, on the Restatement
Effective Date, the Original Tranche B Term Loan made by such Consenting Tranche C Term Loan
Lender to the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the
Restatement Effective Date (immediately prior to giving effect thereto) shall convert (the
“Term Loan Conversion”) into a new term loan to the Bermuda Borrower (each such term loan,
a “Converted Tranche C Term Loan”); provided that if the aggregate principal
amount of the Original Tranche B Term Loan made by the respective Consenting Tranche C Term Loan
Lender to the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the
Restatement Effective Date (immediately prior to giving effect thereto) exceeds the amount set
forth opposite the name of such Lender on Schedule I hereto under the heading “Converted Tranche C
Term Loans,” the amount of such Consenting Tranche C Term Loan Lender’s Converted Tranche C Term
Loan shall equal the amount so set forth for such Lender on Schedule I and the outstanding
principal amount of such Lender’s outstanding Original Tranche B Term Loan in excess thereof shall
be repaid on the Restatement Effective Date (together with interest, breakage costs and any other
amounts owing with respect thereto as provided below), and (II) each Lender with a Tranche C Term
Loan Commitment severally agrees to make, on the Restatement Effective Date, a term loan or term
loans to the Bermuda Borrower (each, an “Additional Tranche C Term Loan” and,
collectively, the “Additional Tranche C Term Loans”, and, together with the Converted
Tranche B Term Loans, each, a “Tranche C Term Loan” and, collectively, the “Tranche C
Term Loans”), which Tranche C Term Loans:

-2-

 

     (i) shall, in the case of Additional Tranche C Term Loans, be incurred by the Bermuda
Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes
described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

     (iii) except as hereinafter provided, shall, at the option of the Bermuda Borrower, be
incurred and maintained as, and/or converted into one or more Borrowings of Base Rate Loans
or Eurodollar Loans, provided that (A) except as otherwise specifically provided in
Section 1.10(b), all Tranche C Term Loans made as part of the same Borrowing shall at all
times consist of Tranche C Term Loans of the same Type and (B) unless the Administrative
Agent has determined that the Syndication Date has occurred (at which time this clause (B)
shall no longer be applicable), no more than four Borrowings of Tranche C Term Loans to be
maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement
Effective Date (or, if later, the last day of the Interest Period applicable to the fourth
Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar
Loans may only have an Interest Period of one week, and the first of which Borrowings may be
made no earlier than the third Business Day, and no later than the fifth Business Day, after
the Restatement Effective Date, the second of which Borrowings may only be made on the last
day of the Interest Period of the first such Borrowing, the third of which Borrowings may
only be made on the last day of the Interest Period of the second such Borrowing and the
fourth of which Borrowings may only be made on the last day of the Interest Period of the
third such Borrowing; and

     (iv) shall not exceed for any Lender, in initial principal amount, that amount which
equals the sum of (x) the aggregate principal amount of its Converted Tranche C Term Loan
(if any) made as provided in clause (b)(I) above (and as set forth opposite its name on
Schedule I hereto under the heading “Converted Tranche C Term Loans”) plus
(y) the Tranche C Term Loan Commitment of such Lender (if any) as in effect on the
Restatement Effective Date (before giving effect to any reductions thereto on such date
pursuant to Section 3.03(c)).

In connection with the Term Loan Conversion and the incurrence of Additional Tranche C Term Loans
pursuant to this Section 1.01(b), (i) the Interest Period applicable to each Borrowing of Original
Tranche B Term Loans, subject to conversion pursuant to this Section 1.01(b), existing on the
Restatement Effective Date (immediately prior to the Term Loan Conversion) and maintained as
Eurodollar Loans under the Original Credit Agreement shall, simultaneously with the occurrence of
the Term Loan Conversion, be broken, (ii) the Administrative Agent shall (and is hereby authorized
to) take all appropriate actions to ensure that all Lenders with outstanding Tranche C Term Loans
(after giving effect to the Term Loan Conversion and the incurrence of Additional Tranche C Term
Loans pursuant to this Section 1.01(b)) participate in each new Borrowing of Tranche C Term Loans
on a pro rata basis (based upon their respective Tranche C Term Loan Borrowing
Amounts as in effect on the Restatement Effective Date) and (iii) the Bermuda Borrower shall be
obligated to pay to the respective Original Lenders breakage and/or other costs of the type
referred to in Section 1.11 of the Original Credit Agreement (if any) incurred in connection with
the Term Loan Conversion and/or the actions taken pursuant to

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preceding clause (ii) of this Section 1.01(b). Once repaid, Tranche C Term Loans may not be
reborrowed.

          (c) Subject to and upon the terms and conditions set forth herein, each Lender with an
Incremental Term Loan Commitment for a given Tranche of Incremental Term Loans severally agrees,
at any time and from time to time on and after the date that such Incremental Term Loan Commitment
is obtained pursuant to Section 1.15 and prior to the Incremental Term Loan Commitment Termination
Date for such Tranche of Incremental Term Loans, to make a term loan (each, an “Incremental
Term Loan” and, collectively, the “Incremental Term Loans”) to the Incremental
Term Loan Borrower for such Tranche, which Incremental Term Loans:

     (i) shall be incurred on an Incremental Term Loan Borrowing Date for the purposes
described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

     (iii) except as hereinafter provided, shall, at the option of the Incremental Term Loan
Borrower for such Tranche, be incurred and maintained as, and/or converted into one or more
Borrowings of Base Rate Loans or Eurodollar Loans, provided that except as otherwise
specifically provided in Section 1.10(b), all Incremental Term Loans of a given Tranche made
as part of the same Borrowing shall at all times consist of Incremental Term Loans of the
same Type; and

     (iv) shall not exceed for any such Incremental Term Loan Lender at any time of any
incurrence thereof, the Incremental Term Loan Commitment of such Incremental Term Loan
Lender for such Tranche at such time (before giving effect to any reductions thereto on such
date pursuant to Section 3.03(e)).

Once repaid, Incremental Term Loans may not be reborrowed.

          1.02 Minimum Borrowing Amounts, etc. The aggregate principal amount of each
Borrowing of Loans shall not be less than the Minimum Borrowing Amount applicable to
Borrowings of the respective Type and Tranche of Loans to be made or maintained pursuant to the
respective Borrowing. More than one Borrowing may be incurred on any day, but at no time shall
there be outstanding more than 35 Borrowings of Eurodollar Loans.

          1.03 Notice of Borrowing. Whenever a Borrower desires to make a Borrowing of Loans
hereunder, an Authorized Officer of such Borrower shall give the Administrative Agent at its Notice
Office at least one Business Day’s prior written (or telephonic notice promptly confirmed in
writing) notice of each Base Rate Loan and at least three Business Days’ prior written (or
telephonic notice promptly confirmed in writing) notice of each Eurodollar Loan to be made
hereunder, provided that any such notice shall be deemed to have been given on a certain
day only if given before 2:00 P.M. (New York time) on such day. Each such written notice or
written confirmation of telephonic notice (each, a “Notice of Borrowing”), except as
otherwise expressly provided in Section 1.10, shall be irrevocable and shall be given by or on
behalf of the respective Borrower in the form of Exhibit A-l, appropriately completed to specify:
(i) the aggregate principal amount of the Loans to be made pursuant to such Borrowing, (ii) the
date of such Borrowing (which shall be a Business Day), (iii) whether the respective Borrowing

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shall consist of Tranche B Term Loans, Tranche C Term Loans, U.S. Borrower Incremental Term Loans
or Bermuda Borrower Incremental Term Loans and (iv) whether the Loans being made pursuant to such
Borrowing are to be initially maintained as Base Rate Loans or Eurodollar Loans. The
Administrative Agent shall promptly give each Lender which is required to make Loans of the
Tranche specified in the respective Notice of Borrowing notice of such proposed Borrowing, of such
Lender’s proportionate share thereof (determined in accordance with Section 1.07) and of the other
matters required by the immediately preceding sentence to be specified in the Notice of Borrowing.

          1.04 Disbursement of Funds. Not later than 1:00 P.M. (New York time) on the date
specified in each Notice of Borrowing, each Lender with a Commitment under the respective Tranche,
will make available its pro rata portion (determined in accordance with Section
1.07) of each such Borrowing requested to be made on such date (or, in the case of Additional
Tranche C Term Loans, each Lender with a Tranche C Term Loan Commitment will make available an
amount thereof equal to its Tranche C Term Loan Commitment on the Restatement Effective Date (prior
to the termination thereof pursuant to Section 3.03(c) on such date)). All such amounts shall be
made available in Dollars and in immediately available funds at the Payment Office of the
Administrative Agent, and the Administrative Agent will make available to the respective Borrower
the Payment Office or such other location as may be reasonably satisfactory to the Administrative
Agent and specified in the relevant Notice of Borrowing the aggregate of the amounts so made
available by the Lenders prior to 3:00 P.M. (New York time) on such day to the extent of funds
actually received by the Administrative Agent prior to such time on such day. Unless the
Administrative Agent shall have been notified by any Lender prior to the date of Borrowing that
such Lender does not intend to make available to the Administrative Agent such Lender’s portion of
any Borrowing to be made on such date, the Administrative Agent may assume that such Lender has
made such amount available to the Administrative Agent on such date of Borrowing and the
Administrative Agent may, in reliance upon such assumption, make available to the relevant Borrower
a corresponding amount. If such corresponding amount is not in fact made available to the
Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such
corresponding amount on demand from such Lender. If such Lender does not pay such corresponding
amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall
promptly notify the relevant Borrower to pay immediately such corresponding amount to the
Administrative Agent and such Borrower shall immediately pay such corresponding amount to the
Administrative Agent. The Administrative Agent shall also be entitled to recover on demand from
such Lender or the U.S. Borrower or the Bermuda Borrower, as the case may be, interest on such
corresponding amount in respect of each day from the date such corresponding amount was made
available by the Administrative Agent to the respective Borrower until the date such corresponding
amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if recovered from
such Lender, the overnight Federal Funds Rate and (ii) if recovered from the respective Borrower,
the rate of interest applicable to the respective Borrowing, as determined pursuant to Section
1.08. Nothing in this Section 1.04 shall be deemed to relieve any Lender from its obligation to
make Loans hereunder or to prejudice any rights which the relevant Borrower may have against any
Lender as a result of any failure by such Lender to make Loans hereunder.

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          1.05 Notes. (a) Subject to the provisions of Section 1.05(f), the U.S. Borrower’s (in
the case of Tranche B Term Loans and U.S. Borrower Incremental Term Loans) and the Bermuda
Borrower’s (in the case of Tranche C Term Loans and Bermuda Borrower Incremental Term Loans)
obligation to pay the principal of, and interest on, the Loans made by each Lender shall be
evidenced (i) in the case of Tranche B Term Loans, by a promissory note duly executed and
delivered by the U.S. Borrower substantially in the form of Exhibit B-l, with blanks appropriately
completed in conformity herewith (each, a “Tranche B Term Note” and, collectively, the
“Tranche B Term Notes”), (ii) in the case of Tranche C Term Loans, by a promissory note
duly executed and delivered by the Bermuda Borrower substantially in the form of Exhibit B-2, with
blanks appropriately completed in conformity herewith (each, a “Tranche C Term Note” and,
collectively, the “Tranche C Term Notes”) and (iii) in the case of Incremental Term Loans,
by a promissory note duly executed and delivered by the applicable Incremental Term Loan Borrower
for such Tranche substantially in the form of Exhibit B-3, with blanks appropriately completed in
conformity herewith (each, an “Incremental Term Note” and, collectively, the “Incremental
Term Notes”).

          (b) The Tranche B Term Note issued to each Lender with a Tranche B Term Loan Commitment or
outstanding Tranche B Term Loans shall (i) be executed by the U.S. Borrower, (ii) be payable to
such Lender (or an affiliate designated by such Lender) or its registered assigns and be dated the
Restatement Effective Date (or, in the case of any Tranche B Term Note issued after the Restatement
Effective Date, the date of issuance thereof), (iii) be in a stated principal amount (expressed in
Dollars) equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective
Date before giving effect to any reductions thereto on such date (or, in the case of any Tranche B
Term Note issued after the Restatement Effective Date, in a stated principal amount (expressed in
Dollars) equal to the outstanding principal amount of the Tranche B Term Loan of such Lender on the
date of the issuance thereof) and be payable (in Dollars) in the principal amount of the Tranche B
Term Loan evidenced thereby from time to time, (iv) mature on the Tranche B/C Term Loan Maturity
Date, (v) bear interest as provided in the appropriate clauses of Section 1.08 in respect of the
Base Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to
voluntary repayment as provided in Section 4.01 and mandatory repayment as provided in Section 4.02
and (vii) be entitled to the benefits of this Agreement and the other Credit Documents.

          (c) The Tranche C Term Note issued to each Lender with a Tranche C Term Loan Commitment or
outstanding Tranche C Term Loans shall (i) be executed by the Bermuda Borrower, (ii) be payable to
such Lender (or an affiliate designated by such Lender) or its registered assigns and be dated the
Restatement Effective Date (or, in the case of any Tranche C Term Note issued after the Restatement
Effective Date, the date of issuance thereof), (iii) be in a stated principal amount (expressed in
Dollars) equal to the sum of the Tranche C Term Loan Commitment of such Lender on the Restatement
Effective Date (before giving effect to any reductions thereto on such date) plus the
aggregate principal amount of the Converted Tranche B Term Loan (if any) of such Lender on the
Restatement Effective Date (or, in the case of any Tranche C Term Note issued after the Restatement
Effective Date, in a stated principal amount (expressed in Dollars) equal to the outstanding
principal amount of the Tranche C Term Loan of such Lender on the date of the issuance thereof) and
be payable (in Dollars) in the principal amount of the Tranche C Term Loan evidenced thereby from
time to time, (iv) mature on the Tranche B/C Term Loan Maturity Date, (v) bear interest as provided
in the appropriate clause of

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Section 1.08 in respect of the Base Rate Loans and Eurodollar Loans, as the case may be, evidenced
thereby, (vi) be subject to voluntary repayment as provided in Section 4.01 and mandatory
repayment as provided in Section 4.02 and (vii) be entitled to the benefits of this Agreement and
the other Credit Documents.

          (d) The Incremental Term Note issued to each Lender with an Incremental Term Loan Commitment
or outstanding Incremental Term Loans under a given Tranche shall (i) be executed by the
Incremental Term Loan Borrower for such Tranche, (ii) be payable to such Lender (or an affiliate
designated by such Lender) or its registered assigns and be dated the date of issuance thereof,
(iii) be in a stated principal amount (expressed in Dollars) equal to the Incremental Term Loan
Commitment of such Lender on the effective date of the respective Incremental Term Loan Commitment
Agreement (prior to the incurrence of any Incremental Term Loans pursuant thereto on such date)
(or, if issued thereafter, be in a stated principal amount (expressed in Dollars) equal to the sum
of the then remaining amount of the Incremental Term Loan Commitment of such Lender plus
the outstanding principal amount of the Incremental Term Loans of such Lender on the date of
issuance thereof) and be payable (in Dollars) in the principal amount of the Incremental Term Loans
evidenced thereby from time to time, (iv) mature on the respective Incremental Term Loan Maturity
Date, (v) bear interest as provided in the appropriate clause of Section 1.08 in respect of Base
Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to
voluntary prepayment as provided in Section 4.01 and mandatory repayment as provided in Section
4.02 and (vi) be entitled to the benefits of this Agreement and the other Credit Documents.

          (e) Each Lender will note on its internal records the amount of each Loan made by it and each
payment in respect thereof and will prior to any transfer of any of its Notes endorse on the
reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make
any such notation or any error in any such notation or endorsement shall not affect either
Borrower’s obligations in respect of any Loans.

          (f) Notwithstanding anything to the contrary contained above or elsewhere in this Agreement,
Notes shall only be delivered to Lenders that at any time specifically request the delivery of such
Notes. No failure of any Lender to request or obtain a Note evidencing its Loans to either Borrower
shall affect or in any manner impair the obligations of the respective Borrower to pay the Loans
(and all related Obligations) which would otherwise be evidenced thereby in accordance with the
requirements of this Agreement, and shall not in any way affect the security or guaranties therefor
provided pursuant to the various Credit Documents. Any Lender that does not have a Note evidencing
its outstanding Loans shall in no event be required to make the notations or endorsements otherwise
described in preceding clause (e). At any time when any Lender requests the delivery of a Note to
evidence any of its Loans, the relevant Borrower shall promptly execute and deliver to the
respective Lender the requested Note or Notes in the appropriate amount or amounts to evidence such
Loans.

          1.06 Conversions. Each Borrower shall have the option to convert, on any Business Day
occurring after the Restatement Effective Date, all or a portion equal to at least the applicable
Minimum Borrowing Amount (and, if greater, in an integral multiple of $500,000) of the outstanding
principal amount of Loans made to such Borrower pursuant to one or more Borrowings of one or more
Types of Loans under a single Tranche into a Borrowing or

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Borrowings of another Type of Loan under such Tranche, provided that (i) except as
otherwise provided in Section 1.10(b) or unless the respective Borrower pays all amounts owing
pursuant to Section 1.11 concurrently with any such conversion, Eurodollar Loans may be converted
into Base Rate Loans only on the last day of an Interest Period applicable to the Eurodollar Loans
being converted and no such partial conversion of Eurodollar Loans shall reduce the outstanding
principal amount of such Eurodollar Loans made pursuant to a single Borrowing to less than
the applicable Minimum Borrowing Amount applicable thereto, (ii) unless the Required Lenders
otherwise agree, Base Rate Loans may only be converted into Eurodollar Loans if no Default or
Event of Default is in existence on the date of conversion, (iii) unless the Administrative Agent
has determined that the Syndication Date has occurred (at which time this clause (iii) shall no
longer be applicable), prior to the 30th day after the Restatement Effective Date, conversions of
Base Rate Loans into Eurodollar Loans may only be made if any such conversion is effective on the
first day of the first, second, third or fourth Interest Period referred to in clause (B) of the
provisos appearing in each of Section 1.01(a)(iii) and Section 1.01(b)(iii) and so long as any
such conversion does not result in a greater number of Borrowings of Eurodollar Loans prior to the
30th day after the Restatement Effective Date as are permitted under Section 1.01(a)(iii) and
Section 1.01(b)(iii), and (iv) no conversion pursuant to this Section 1.06 shall result in a
greater number of Borrowings of Eurodollar Loans than is permitted under Section 1.02. Each such
conversion shall be effected by the applicable Borrower by giving the Administrative Agent at its
Notice Office prior to 2:00 P.M. (New York time) at least three Business Days’ prior notice (each,
a “Notice of Conversion/Continuation”) in the form of Exhibit A-2, appropriately completed
to specify the Loans of such Borrower to be so converted, the Borrowing or Borrowings pursuant to
which such Loans were made and, if to be converted into Eurodollar Loans, the Interest Period to
be initially applicable thereto. The Administrative Agent shall give each Lender prompt notice of
any such proposed conversion affecting any of its Loans.

          1.07 Pro Rata Borrowings. All Borrowings of Tranche B Term Loans, Tranche C Term Loans
and Incremental Term Loans of a given Tranche under this Agreement shall be incurred from the
Lenders pro rata on the basis of such Lenders’ Tranche B Term Loan Commitments,
Tranche C Term Loan Borrowing Amounts or Incremental Term Loan Commitments of the
applicable given Tranche, as the case may be. It is understood that no Lender shall be
responsible for any default by any other Lender of its obligation to make Loans hereunder and that
each Lender shall be obligated to make the Loans provided to be made by it hereunder, regardless of
the failure of any other Lender to make its Loans hereunder.

          1.08 Interest. (a) The U.S. Borrower hereby agrees to pay (in the case of Tranche B Term
Loans and U.S. Borrower Incremental Term Loans, in each case maintained as Base Rate Loans) and the
Bermuda Borrower hereby agrees to pay (in the case of Tranche C Term Loans and Bermuda Borrower
Incremental Term Loans, in each case maintained as Base Rate Loans) interest in respect of the
unpaid principal amount of each Base Rate Loan made to it from the date of the Borrowing thereof
until the earlier of (i) the maturity (whether by acceleration or otherwise) of such Base Rate Loan
and (ii) the conversion of such Base Rate Loan to a Eurodollar Loan pursuant to Section 1.06, at a
rate per annum which shall be equal to the sum of the Base Rate in effect from time to time during
the period such Base Rate Loan is outstanding plus the relevant Applicable Margin as in
effect from time to time.

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          (b) The U.S. Borrower hereby agrees to pay (in the case of Tranche B Term Loans and U.S. Borrower
Incremental Term Loans, in each case maintained as Eurodollar Loans) and the Bermuda Borrower
hereby agrees to pay (in the case of Tranche C Term Loans and Bermuda Borrower Incremental Term
Loans, in each case maintained as Eurodollar Loans), interest in respect of the unpaid principal
amount of each Eurodollar Loan made to it from the date of the Borrowing thereof until the earlier
of (i) the maturity (whether by acceleration or otherwise) of such Eurodollar Loan and (ii) the
conversion of such Eurodollar Loan to a Base Rate Loan pursuant to Section 1.06, 1.09 or 1.10, as
applicable, at a rate per annum which shall, during each Interest Period applicable thereto, be
equal to the sum of the Eurodollar Rate for such Interest Period plus the relevant
Applicable Margin as in effect from time to time.

          (c) Overdue principal and, to the extent permitted by law, overdue interest in respect of each
Loan and any other overdue amount payable hereunder shall, in each case, bear interest at a rate
per annum equal to the greater of (x) 2% per annum in excess of the rate otherwise applicable to
Base Rate Loans maintained pursuant to the respective Tranche (or, if the overdue amount owing does
not relate to any specific Tranche, the rate otherwise applicable to Tranche B Term Loans which are
maintained as Base Rate Loans) from time to time and (y) the rate which is 2% in excess of the rate
then borne by such Loans, in each case with such interest to be payable on demand.

          (d) Accrued (and theretofore unpaid) interest shall be payable (i) in respect of each Base
Rate Loan, quarterly in arrears on each Quarterly Payment Date, (ii) in respect of each Eurodollar
Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest
Period in excess of three months, on each date occurring at three month intervals after the first
day of such Interest Period and (iii) in respect of each Loan, on any repayment or prepayment (on
the amount repaid or prepaid), at maturity (whether by acceleration or otherwise) and, after such
maturity, on demand.

          (e) Upon each Interest Determination Date, the Administrative Agent shall determine the
Eurodollar Rate for the respective Interest Period or Interest Periods and shall promptly notify
the respective Borrower and the respective Lenders thereof. Each such determination shall, absent
manifest error, be final and conclusive and binding on all parties hereto.

          1.09 Interest Periods. At the time a Borrower gives any Notice of Borrowing or Notice
of Conversion/Continuation in respect of the making of, or conversion into, any Eurodollar Loan (in
the case of the initial Interest Period applicable thereto) or on the third Business Day prior to
the expiration of an Interest Period applicable to such Eurodollar Loan (in the case of any
subsequent Interest Period), the respective Borrower shall have the right to elect, by having an
Authorized Officer of such Borrower give the Administrative Agent notice thereof, the interest
period applicable to such Eurodollar Loan, which Interest Period shall, at the option of such
Borrower (but otherwise subject to (x) clause (B) of the proviso appearing in Section 1.01(a)(iii),
(y) clause (B) of the proviso appearing in Section 1.01(b)(iii) and (z) clause (iii) of the proviso
appearing in Section 1.06) be, in the case of a Eurodollar Loan, a one, two, three or six-month
period or, to the extent agreed to by all Lenders required to make Loans under the respective
Tranche, a nine or twelve-month period (or, if required by clause (B) of the proviso appearing in
either Section 1.01(a)(iii) or Section 1.01(b)(iii), a one-week period); provided that:

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     (i) all Eurodollar Loans comprising the same Borrowing shall at all times have the same
Interest Period;

     (ii) the initial Interest Period for any Eurodollar Loan shall commence on the date of
Borrowing of such Eurodollar Loan (including the date of any conversion thereto from a
Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of
such Eurodollar Loan shall commence on the day on which the next preceding Interest Period
applicable thereto expires;

     (iii) if any Interest Period relating to a Eurodollar Loan begins on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest
Period, such Interest Period shall end on the last Business Day of such calendar month;

     (iv) if any Interest Period for a Eurodollar Loan would otherwise expire on a day which
is not a Business Day, such Interest Period shall expire on the next succeeding Business
Day; provided, however, that if any Interest Period for a Eurodollar Loan
would otherwise expire on a day which is not a Business Day but is a day of the month after
which no further Business Day occurs in such month, such Interest Period shall expire on the
next preceding Business Day;

     (v) no Interest Period in respect of any Borrowing under a given Tranche of Loans shall
be selected which extends beyond the respective Maturity Date for such Tranche of Loans;

     (vi) unless the Required Lenders otherwise agree, no Interest Period for a Eurodollar
Loan may be selected at any time when a Default or Event of Default is then in existence;
and

     (vii) no Interest Period in respect of any Borrowing of any Tranche of Term Loans shall
be elected which extends beyond any date upon which a Scheduled Repayment for the respective
Tranche of Term Loans will be required to be made under Section 4.02(b) if, after giving
effect to the election of such Interest Period, the aggregate principal amount of such
Tranche of Term Loans which have Interest Periods which will expire after such date will be
in excess of the aggregate principal amount of such Tranche of Term Loans then outstanding
less the aggregate amount of such required Scheduled Repayment.

If upon the expiration of any Interest Period applicable to a Borrowing of Eurodollar Loans, the
U.S. Borrower or the Bermuda Borrower, as applicable, has failed to elect, or is not permitted to
elect, a new Interest Period to be applicable to such Eurodollar Loans as provided above, the
relevant Borrower shall be deemed to have elected to convert such Eurodollar Loans into Base Rate
Loans, in any such case effective as of the expiration date of such current Interest Period.

          1.10 Increased Costs; Illegality; etc. (a) In the event that any Lender shall have
determined in good faith (which determination shall, absent manifest error, be final and
conclusive and binding upon all parties hereto but, with respect to clause (i) below, may be made
only by the Administrative Agent):

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     (i) on any Interest Determination Date that, by reason of any changes arising after the
Restatement Effective Date affecting the applicable interbank market, adequate and fair
means do not exist for ascertaining the applicable interest rate on the basis provided for
in the definition of the Eurodollar Rate; or

     (ii) at any time that such Lender shall incur increased costs or reductions in the
amounts received or receivable hereunder with respect to any Eurodollar Loan because of (x)
any change since the Restatement Effective Date in any applicable law or governmental rule,
regulation, order, guideline or request (whether or not having the force of law) or in the
interpretation or administration thereof and including the introduction of any new law or
governmental rule, regulation, order, guideline or request, such as, for example, but not
limited to (A) a change in the basis of taxation of payments to a Lender of the principal of
or interest on the Loans or any other amounts payable hereunder (except for changes in the
rate of tax on, or determined by reference to, the net income or net profits of such Lender
imposed by the jurisdiction in which its principal office or applicable lending office is
located) or (B) a change in official reserve requirements, but, in all events, excluding
reserves required under Regulation D to the extent included in the computation of the
Eurodollar Rate and/or (y) other circumstances arising since the Restatement Effective Date
affecting such Lender, the interbank market or the position of such Lender in such market
(whether or not such Lender was a Lender at the time of such occurrence); or

     (iii) at any time after the Restatement Effective Date, that the making or continuance
of any Eurodollar Loan has been made unlawful by any law or governmental rule, regulation or
order (or would conflict with any governmental rule, regulation, guideline, request or order
not having the force of law but with which such Lender customarily complies even though the
failure to comply therewith would not be unlawful), or impracticable as a result of a
contingency occurring after the Restatement Effective Date which materially and adversely
affects the applicable interbank market;

then, and in any such event, such Lender (or the Administrative Agent, in the case of clause (i)
above) shall promptly give notice (by telephone confirmed in writing) to the affected Borrower,
and, except in the case of clause (i) above, to the Administrative Agent of such determination
(which notice the Administrative Agent shall promptly transmit to each of the other Lenders).
Thereafter (x) in the case of clause (i) above, Eurodollar Loans shall no longer be available
until such time as the Administrative Agent notifies Holdings, any affected Borrower and the
Lenders that the circumstances giving rise to such notice by the Administrative Agent no longer
exist, and any Notice of Borrowing or Notice of Conversion/Continuation given by either Borrower
with respect to Eurodollar Loans which have not yet been incurred (including by way of conversion)
shall be deemed rescinded by such Borrower, (y) in the case of clause (ii) above, the respective
Borrower or Borrowers, as the case may be, agrees to pay to such Lender, upon written demand
therefor, such additional amounts (in the form of an increased rate of, or a different method of
calculating, interest or otherwise as such Lender in its sole discretion shall determine) as shall
be required to compensate such Lender for such increased costs or reductions in amounts received
or receivable hereunder (with the written notice as to the additional amounts owed to such Lender,
submitted to the respective Borrower or Borrowers by such Lender in accordance with the foregoing
to be, absent manifest error, final and conclusive and binding on

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all the parties hereto, although the failure to give any such notice shall not release or diminish
any of the respective Borrower’s or Borrowers’ obligations to pay additional amounts pursuant to
this Section 1.10(a) upon the subsequent submission of such notice) and (z) in the case of clause
(iii) above, the respective Borrower or Borrowers shall take one of the actions specified in
Section 1.10(b) as promptly as possible and, in any event, within the time period required by law.
Each of the Administrative Agent and each Lender agrees that if it gives notice to either Borrower
of any of the events described in clause (i), (ii) or (iii) above, it shall promptly notify such
Borrower and, in the case of any such Lender, the Administrative Agent, if such event ceases to
exist.

          (b) At any time that any Eurodollar Loan is affected by the circumstances described in Section
1.10(a)(ii) or (iii), the affected Borrower may (and, in the case of a Eurodollar Loan affected by
the circumstances described in Section 1.10(a)(iii), shall) either (x) if the affected Eurodollar
Loan is then being made initially or pursuant to a conversion, cancel the respective Borrowing by
giving the Administrative Agent telephonic notice (confirmed in writing) on the same date that such
Borrower was notified by the affected Lender or the Administrative Agent pursuant to Section
1.10(a)(ii) or (iii), as the case may be, or (y) if the affected Eurodollar Loan is then
outstanding, upon at least three Business Days’ written notice to the Administrative Agent, require
the affected Lender to convert such Eurodollar Loan into a Base Rate Loan (which conversion, in the
case of the circumstance described in Section 1.10(a)(iii), shall occur no later than the last day
of the Interest Period then applicable to such Eurodollar Loan or such earlier day as shall be
required by applicable law).

          (c) If any Lender shall have determined after the Restatement Effective Date that the adoption
or effectiveness after the Restatement Effective Date of any applicable law, rule or regulation
regarding capital adequacy, or any change therein, or any change after the Restatement Effective
Date in the interpretation or administration thereof by any governmental authority, central bank or
comparable agency charged with the interpretation or administration thereof, or compliance by such
Lender or any Person controlling such Lender with any request or directive regarding capital
adequacy (whether or not having the force of law) of any such authority, central bank or comparable
agency, has or would have the effect of reducing the rate of return on such Lender’s or such other
controlling Person’s capital or assets as a consequence of such Lender’s Commitment or Commitments
hereunder or its obligations hereunder to a level below that which such Lender or such other
controlling Person could have achieved but for such adoption, effectiveness, change or compliance
(taking into consideration such Lender’s or such other controlling Person’s policies with respect
to capital adequacy), then from time to time, upon written demand by such Lender (with a copy to
the Administrative Agent), accompanied by the notice referred to in the next succeeding sentence of
this Section 1.10(c), the Borrowers jointly and severally agree to pay to such Lender such
additional amount or amounts as will compensate such Lender or such other controlling Person for
such reduction in the rate of return to such Lender or such other controlling Person. Each Lender,
upon determining in good faith that any additional amounts will be payable pursuant to this Section
1.10(c), will give prompt written notice thereof to the relevant Borrower (a copy of which shall be
sent by such Lender to the Administrative Agent), which notice shall set forth such Lender’s basis
for asserting its rights under this Section 1.10(c) and the calculation, in reasonable detail, of
such additional amounts claimed hereunder, although the failure to give any such notice shall not
release or diminish either Borrower’s obligations to pay additional amounts pursuant to this
Section 1.10(c) upon the

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subsequent receipt of such notice. A Lender’s good faith determination of compensation owing under
this Section 1.10(c) shall, absent manifest error, be final and conclusive and binding on all the
parties hereto.

          (d) In the event that any Lender shall in good faith determine (which determination shall,
absent manifest error, be final and conclusive and binding on all parties hereto) at any time that
such Lender is required to maintain reserves (including, without limitation, any marginal,
emergency, supplemental, special or other reserves required by applicable law) which have been
established by any Federal, state, local or foreign court or governmental agency, authority,
instrumentality or regulatory body with jurisdiction over such Lender (including any branch,
Affiliate or funding office thereof) in respect of any Non-Dollar Denominated Letter of Credit, any
Non-Dollar Denominated Bank Guaranties or any category of liabilities which includes deposits by
reference to which the interest rate on any Non-Dollar Denominated Letter of Credit or any
Non-Dollar Denominated Bank Guaranty is determined or any category of extensions of credit or other
assets which includes loans by a non-United States office of any Lender to non-United States
residents, then, unless such reserves are included in the calculation of the interest rate
applicable to such Non-Dollar Denominated Letter of Credit or such Non-Dollar Denominated Bank
Guaranty or in Section 1.10(a)(ii), such Lender shall promptly notify Holdings and the Borrowers in
writing specifying the additional amounts required to indemnify such Lender against the cost of
maintaining such reserves (such written notice to provide in reasonable detail a computation of
such additional amounts) and the Borrowers jointly and severally agree to pay to such Lender such
specified amounts as additional fees at the time that either Borrower is otherwise required to pay
regularly accruing fees in respect of such Non-Dollar Denominated Letter of Credit or such
Non-Dollar Denominated Bank Guaranty or, if later, on written demand therefor by such Lender.

          1.11 Compensation. (a) The Borrowers jointly and severally agree to compensate each
Lender, upon its written request (which request shall set forth in reasonable detail the basis for
requesting such compensation), for all losses, expenses and liabilities (including, without
limitation, any loss, expense or liability incurred by reason of the liquidation or reemployment
of deposits or other funds required by such Lender to fund its Eurodollar Loans but excluding any
loss of anticipated profit) which such Lender may sustain: (i) if for any reason (other than a
default by such Lender or any Agent) a Borrowing of, or conversion from or into, Eurodollar Loans
does not occur on a date specified therefor in a Notice of Borrowing or Notice of
Conversion/Continuation (whether or not withdrawn by the respective Borrower or Borrowers or
deemed withdrawn pursuant to Section 1.10(a)); (ii) if any repayment (including any repayment made
pursuant to Section 4.01 or 4.02 or as a result of an acceleration of the Loans pursuant to
Section 10 or as a result of the replacement of a Lender pursuant to Section 1.13, 4.01 or
13.12(b)), conversion or permitted “realignment” of any of its Eurodollar Loans occurs on a date
which is not the last day of an Interest Period applicable thereto; (iii) if any prepayment of any
of its Eurodollar Loans is not made on any date specified in a notice of prepayment given by the
respective Borrower or Borrowers; or (iv) as a consequence of (x) any other default by the
respective Borrower to repay its Loans when required by the terms of this Agreement or any Note
held by such Lender or (y) any election made pursuant to Section 1.10(b). Each Lender’s
calculation of the amount of compensation owing pursuant to this Section 1.11 (a) shall be made in
good faith. A Lender’s basis for requesting compensation pursuant to this Section 1.11 (a) and

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a Lender’s calculation of the amount thereof, shall, absent manifest error, be final and
conclusive and binding on all parties hereto.

          (b) The Borrowers jointly and severally agree to compensate the Deposit Bank and each CL
Lender, upon the Deposit Bank’s or applicable CL Lender’s written request (which request shall set
forth in reasonable detail the basis for requesting such compensation), for all losses, expenses
and liabilities incurred by the Deposit Bank or such CL Lender in connection with: (i) any
withdrawals from the Credit-Linked Deposit Account pursuant to the terms of this Agreement prior
to the end of the applicable Interest Period or Scheduled Investment Termination Date for the
Credit-Linked Deposits; and (ii) the termination of the Total Credit-Linked Commitment (and the
related termination of the investment of the funds held in the Credit-Linked Deposit Account)
prior to the end of any applicable Interest Period or Scheduled Investment Termination Date for
the Credit-Linked Deposits; provided, however, that neither of the Borrowers shall
have any obligation to compensate the Deposit Bank or any CL Lender
pursuant to this Section 1.11(b) for any losses, expenses and liabilities in connection with periods after such Interest
Period or Scheduled Investment Termination Date, as the case may be.

          1.12 Change of Lending Office. (a) Each Lender may at any time or from time to time
designate, by written notice to the Administrative Agent to the extent not already reflected on
Schedule II, one or more lending offices (which, for this purpose, may include Affiliates of the
respective Lender) for the various Loans made, and Letters of Credit and Bank Guaranties
participated in, by such Lender (including, without limitation, by designating a separate lending
office (or Affiliate) to act as such with respect to Dollar Denominated Letter of Credit
Outstandings and Dollar Denominated Bank Guaranty Outstandings versus Non-Dollar Denominated Letter
of Credit Outstandings and Non-Dollar Denominated Bank Guaranty Outstandings); provided
that, for designations made after the Restatement Effective Date (unless such designation is made
after the occurrence of a Sharing Event as a result of any Lender’s purchase of participating
interests in Loans, Letters of Credit, Unpaid Drawings, Unreimbursed Payments and Credit-Linked
Deposits pursuant to Section 1.14), to the extent such designation shall result in increased costs
under Section 1.10, 2A.06, 2B.06 or 4.04 in excess of those which would be charged in the absence
of the designation of a different lending office (including a different Affiliate of the respective
Lender), then the Borrowers shall not be obligated to pay such excess increased costs (although if
such designation results in increased costs, the Borrowers shall be obligated to pay the costs
which would have applied in the absence of such designation and any subsequent increased costs of
the type described above resulting from changes after the date of the respective designation).
Except as provided in the immediately preceding sentence, such lending office and Affiliate of any
Lender designated as provided above shall, for all purposes of this Agreement, be treated in the
same manner as the respective Lender (and shall be entitled to all indemnities and similar
provisions in respect of its acting as such hereunder).

          (b) Each Lender agrees that upon the occurrence of any event giving rise to the operation of
Section 1.10(a)(ii) or (iii), Section 1.10(c), Section 2A.06, Section 2B.06 or Section 4.04 with
respect to such Lender, it will, if requested by the applicable Borrower by notice to such Lender,
use reasonable efforts (subject to overall policy considerations of such Lender) to designate
another lending office for any Loans, Letters of Credit and/or Bank Guaranties, as the case may
be, affected by such event, provided that such designation is made

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on such terms that such Lender and its lending office suffer no economic, legal or regulatory
disadvantage, with the object of avoiding the consequence of the event giving rise to the
operation of any of the aforementioned Sections. Nothing in this Section 1.12 shall affect or
postpone any of the obligations of either Borrower or the rights of any Lender provided in
Sections 1.10, 2A.06, 2B.06 and 4.04.

          1.13 Replacement of Lenders. (x) If any Lender becomes a Defaulting Lender, (y) upon
the occurrence of any event giving rise to the operation of Section 1.10(a)(ii) or (iii), Section
1.10(c) or (d), Section 2A.06, Section 2B.06 or Section 4.04 with respect to any Lender which
results in such Lender charging to either Borrower increased costs materially in excess of the
average costs being charged by the other Lenders in respect of such contingency or (z) in the case
of a refusal by a Lender to consent to a proposed change, waiver, discharge or termination with
respect to this Agreement which has been approved by the Required Lenders as provided in Section
13.12(b), the U.S. Borrower or the Bermuda Borrower, as the case may be, shall have the right, in
accordance with the requirements of Section 13.04(b), if no Event of Default then exists or would
exist after giving effect to such replacement, to replace such Lender (the “Replaced Lender”) with
one or more Eligible Transferees (collectively, the “Replacement Lender”), none of whom
shall constitute a Defaulting Lender at the time of such replacement and each of whom shall be
reasonably acceptable to the Administrative Agent or, in the case of a replacement as provided in
Section 13.12(b) where the consent of the respective Lender is required with respect to
less than all Tranches of its Loans or Commitments, at the option of Holdings, to replace
only the Commitments and/or outstanding Loans of such Lender in respect of each Tranche where the
consent of such Lender would otherwise be individually required, with identical Commitments and/or
Loans of the respective Tranche provided by the Replacement Lender; provided that:

     (i) at the time of any replacement pursuant to this Section 1.13, the Replacement
Lender shall enter into one or more Assignment and Assumption Agreements pursuant to Section
13.04(b) (and with all fees payable pursuant to said Section 13.04(b) to be paid by the
Replacement Lender) pursuant to which the Replacement Lender shall acquire all of the
Commitments and all then outstanding Loans (or, in the case of the replacement of
less than all the Tranches of Commitments and outstanding Loans of the respective
Replaced Lender, all the Commitments and/or all then outstanding Loans relating to the
Tranche or Tranches with respect to which such Lender is being replaced) of, and all
participations in all then outstanding Letters of Credit and Bank Guaranties issued pursuant
to the respective Tranche or Tranches where the respective Lender is being replaced by, the
Replaced Lender and, in connection therewith, shall pay to the Replaced Lender in respect
thereof an amount equal to the sum (in the relevant currency or currencies) of (A) an amount
equal to the principal of, and all accrued interest on, all then outstanding Loans of the
respective Replaced Lender under each Tranche with respect to which such Replaced Lender is
being replaced, (B) an amount equal to the then remaining Credit-Linked Deposit of such
Lenders (if any) at such time, (C) an amount equal to all Unpaid Drawings (if any) under
each Tranche with respect to which the respective Replaced Lender is being replaced, in each
case that have been funded by (and not reimbursed to) such Replaced Lender (including by way
of application of such Lender’s Credit-Linked Deposit) at such time, together with all then
unpaid interest with respect thereto at such time, (D) an amount equal to all Unreimbursed
Payments (if any) under each Tranche with respect to which the respective

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Replaced Lender is being replaced, in each case that have been funded by (and not reimbursed
to) such Replaced Lender (including by way of application of such Lender’s Credit-Linked
Deposit) at such time, together with all then unpaid interest with respect thereto at such
time, and (E) an amount equal to all accrued, but theretofore unpaid, Fees owing to the
Replaced Lender (but only with respect to the relevant Tranche or Tranches, in the case of
the replacement of less than all Tranches then held by the respective Replaced
Lender) pursuant to Section 3.01; and

     (ii) all obligations of the Borrowers owing to the Replaced Lender in respect of each
Tranche where such Replaced Lender is being replaced (other than those specifically
described in clause (i) above in respect of which the assignment purchase price has been, or
is concurrently being, paid) shall be paid in full to such Replaced Lender concurrently with
such replacement.

Upon the execution of the respective Assignment and Assumption Agreement, the payment of amounts
referred to in clauses (i) and (ii) above, recordation of the assignment on the Register by the
Administrative Agent pursuant to Section 13.17 and, if so requested by the Replacement Lender (when
applicable) pursuant to Section 1.05(f), delivery to the Replacement Lender of the appropriate Note
or Notes executed by the respective Borrower, (x) the Replacement Lender shall become a Lender
hereunder and, unless the respective Replaced Lender continues to have outstanding Loans or any
Commitment hereunder, the Replaced Lender shall cease to constitute a Lender hereunder, except with
respect to indemnification provisions under this Agreement (including, without limitation, Sections
1.10, 1.11, 2A.06, 2B.06, 4.04, 13.01 and 13.06), which shall survive as to such Replaced Lender
and (y) in the case of the replacement of any Credit-Linked Commitment pursuant to this Section
1.13, the CL Percentages of the CL Lenders shall be automatically adjusted at such time to give
effect to such replacement. In connection with any replacement of Lenders pursuant to, and as
contemplated by, this Section 1.13, each of the U.S. Borrower and the Bermuda Borrower hereby
irrevocably authorizes Holdings to take all necessary action, in the name of the U.S. Borrower or
the Bermuda Borrower, as the case may be, as described above in this Section 1.13 in order to
effect the replacement of the respective Lender or Lenders in accordance with the preceding
provisions of this Section 1.13. The Credit-Linked Deposit funded by any CL Lender shall not be
released in connection with any assignment of its Credit-Linked Commitment, but shall instead be
purchased by the relevant assignee (at par, as described in clause (i)(B) of the proviso above) and
continue to be held by the Deposit Bank for application (if not already applied) pursuant to
Sections 2A.04 and 2B.04 in respect of such assignee’s obligations under the Credit-Linked
Commitment assigned to it.

          1.14 Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event.
(a) On the date of the occurrence of any Sharing Event, or promptly thereafter, (i) if there have
been any Drawings pursuant to Letters of Credit which have not yet been reimbursed to the
respective Issuing Lender pursuant to Section 2A, the respective Issuing Lender shall seek
reimbursement therefor as permitted pursuant to Section 2A.04(c) and (ii) if there have been any
Bank Guaranty Payments pursuant to Bank Guaranties which have not yet been reimbursed to the
respective Bank Guaranty Issuer pursuant to Section 2B, the respective Bank Guaranty Issuer shall
seek reimbursement therefor as permitted pursuant to Section 2B.04(c)). After giving effect to the
actions taken (or required to be taken) pursuant to the preceding sentence, the Administrative
Agent shall request that the Deposit Bank return (in

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which case the Deposit Bank shall return) to the Administrative Agent who shall, in turn, return
to the CL Lenders amounts (if any) representing Credit-Linked Deposits which are permitted to be
returned to the CL Lenders at such time in accordance with Section 2C.04(a) hereof.

          (b) (i) Upon the occurrence of a Sharing Event, but after giving effect to the actions
required to be taken pursuant to preceding clause (a) of this Section 1.14 (although any failure by
the Administrative Agent, the Deposit Bank or any Lender to take the actions required of it
pursuant to said clause shall not prevent the actions required hereby, but the respective
Administrative Agent, Deposit Bank or Lender shall continue to be obligated to perform its
obligations as required above and the Administrative Agent shall be authorized to make any
equitable adjustments as may be deemed necessary or desirable pursuant to the provisions of this
Section 1.14(b)), the Lenders shall purchase participations from other Lenders in each of the
respective Tranches of Loans and the CL Tranche (including, in the case of the CL Tranche,
participations in each outstanding Letter of Credit, each Unpaid Drawing owing to the CL Lenders,
each outstanding Bank Guaranty, each Unreimbursed Payment owing to the CL Lenders and the
Credit-Linked Deposits of the various CL Lenders) so that, after giving effect to such purchases,
each Lender shall have the same credit exposure in each Tranche at such time (including, (x) in the
case of the Total Credit-Linked Commitment, an interest in each outstanding Letter of Credit, each
Unpaid Drawing owing to the CL Lenders, each outstanding Bank Guaranty, each Unreimbursed Payment
owing to the CL Lenders and the Credit-Linked Deposits of the various CL Lenders and (y) a
participation in the Credit-Linked Deposits established pursuant to Section 2C.01 and all amounts
deposited in the Credit-Linked Deposit Account from time to time or to be returned to the Lenders
in accordance with the provisions of Section 2), whether or not such Lender shall previously have
participated therein, equal to such Lender’s Exchange Percentage thereof.

          (ii) The foregoing actions pursuant to immediately preceding clause (i) shall be accomplished
pursuant to this Section 1.14(b) through purchases and sales of participations in the various
Tranches as required hereby, and at the request of the Administrative Agent each Lender hereby
agrees to enter into customary participation agreements approved by the Administrative Agent to
evidence same. All purchases and sales of participations pursuant to this Section 1.14(b) shall be
made in Dollars. Without limiting the foregoing, it is understood and agreed that, pursuant to
this Section 1.14(b), the various CL Lenders may be selling participations to the other Lenders in
their Credit-Linked Deposits (after giving effect to the actions required on, or promptly
following, the occurrence of the Sharing Event pursuant to Section 1.14(a)), and in connection
therewith each CL Lender shall be paid, in immediately available funds in Dollars, amounts equal
to the percentage participations sold by them in their Credit-Linked Deposits, which immediately
available funds shall be paid by the Lenders acquiring participations therein. At the request of
the Administrative Agent, each Lender which has sold participations in any of its Tranches as
provided above (through the Administrative Agent) will deliver to each Lender (through the
Administrative Agent) which has so purchased a participation therein a participation certificate
in the appropriate amount as determined in conjunction with the Administrative Agent. It is
understood that the amount of immediately available funds delivered by each Lender shall be
calculated on a net basis, giving effect to both the sales and purchases of participations by the
various Lenders as required above.

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          (c) In the event that any Lender shall default on its obligation to pay over any amount to the
Administrative Agent in respect of any Letter of Credit or any Bank Guaranty as provided in Section
1.14(b), each other Lender shall have a claim against such defaulting Lender (and not against the
Administrative Agent, any Issuing Lender, any Bank Guaranty Issuer, the Deposit Bank or any other
Lender) for any damages sustained by it as a result of such default.

          (d) All determinations by the Administrative Agent pursuant to this Section 1.14 shall be made
by it in accordance with the provisions herein and with the intent being to equitably share the
credit risk for all Tranches (and the Credit-Linked Deposits) hereunder in accordance with the
provisions hereof. Absent manifest error, all determinations by the Administrative Agent
hereunder shall be binding on the Borrowers, each of the Lenders, each Issuing Lender, each Bank
Guaranty Issuer and the Deposit Bank. The Administrative Agent shall have no liability to either
Borrower, any Lender, any Issuing Bank, any Bank Guaranty Issuer or the Deposit Bank for any
determinations made by it hereunder except to the extent resulting from the Administrative Agent’s
gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a
final and non-appealable decision).

          (e) Upon, and after, the occurrence of a Sharing Event (i) no further Credit Events shall be
made or occur, and (ii) all Credit-Linked Commitments and all Incremental Term Loan Commitments (if
any) shall be automatically terminated. Notwithstanding anything to the contrary contained above,
the failure of any Lender to purchase its participating interests as required above in any
extensions of credit (and/or any Credit-Linked Deposits) upon the occurrence of a Sharing Event
shall not relieve any other Lender of its obligation hereunder to purchase its participating
interests in a timely manner, but no Lender shall be responsible for the failure of any other
Lender to purchase the participating interest to be purchased by such other Lender on any date.

          (f) If any amount required to be paid by any Lender pursuant to this Section 1.14 is not paid
to the Administrative Agent on the date upon which the Sharing Event occurred, such Lender shall,
in addition to such aforementioned amount, also pay to the Administrative Agent on demand an amount
equal to the product of (i) the amount so required to be paid by such Lender for the purchase of
its participations, (ii) the daily average Federal Funds Rate, during the period from and including
the date of request for payment to the date on which such payment is immediately available to the
Administrative Agent and (iii) a fraction the numerator of which is the number of days that elapsed
during such period and the denominator of which is 360. A certificate of the Administrative Agent
submitted to any Lender with respect to any amounts payable under this Section 1.14 shall be
conclusive in the absence of manifest error. Amounts payable by any Lender pursuant to this Section
1.14 shall be paid to the Administrative Agent for the account of the relevant Lenders,
provided that, if the Administrative Agent (in its sole discretion) has elected to fund on
behalf of such other Lender the amounts owing to such other Lenders, then the amounts shall be paid
to the Administrative Agent for its own account.

          (g) Whenever, at any time after the relevant Lenders have received from any other Lenders
purchases of participations pursuant to this Section 1.14, the various Lenders receive any payment
on account thereof, such Lenders will distribute to the Administrative Agent, for the account of
the various Lenders participating therein, such Lenders’ participating interests in such amounts
(appropriately adjusted, in the case of interest payments, to reflect the

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period of time during which such participations were outstanding) in like funds as received,
provided, however, that in the event that such payment received by any Lenders is
required to be returned, the Lenders who received previous distributions in respect of their
participating interests therein will return to the respective Lenders any portion thereof
previously so distributed to them in like funds as such payment is required to be returned by the
respective Lenders.

          (h) Each Lender’s obligation to purchase participating interests pursuant to this Section 1.14
shall be absolute and unconditional and shall not be affected by any circumstance including,
without limitation, (i) any setoff, counterclaim, recoupment, defense or other right which such
Lender may have against any other Lender, any Credit Agreement Party or any other Person for any
reason whatsoever, (ii) the occurrence or continuance of any Default or Event of Default, (iii) any
adverse change in the condition (financial or otherwise) or prospects of any Credit Agreement Party
or any other Person, (iv) any breach of this Agreement or any other Credit Document by any Credit
Agreement Party, any Lender, any Issuing Lender, any Bank Guaranty Issuer, any Agent, the Deposit
Bank or any other Person, or (v) any other circumstance, happening or event whatsoever, whether or
not similar to any of the foregoing.

          (i) Notwithstanding anything to the contrary contained elsewhere in this Agreement, upon any
purchase of participations as required above, (i) the relevant Borrower shall pay to each Lender
granting any participations as required above, for the account of the respective Lender which has
purchased such participations, any increased costs and indemnities (including, without limitation,
pursuant to Sections 1.11, 1.12, 2A.06, 2B.06 and 4.04) to the same extent as if such Lender which
has purchased such participations were the direct Lender as opposed to a participant therein,
which increased costs shall be calculated without regard to Section 1.13, Section 13.04(a) or the
penultimate sentence of Section 13.04(b) and (ii) each Lender which has sold such participations
shall be entitled to receive from the relevant Borrower indemnification from and against any and
all taxes imposed as a result of the sale of the participations pursuant to this Section 1.14.
Each Borrower acknowledges and agrees that, upon the occurrence of a Sharing Event and after
giving effect to the requirements of this Section 1.14, increased Taxes may be owing by it
pursuant to Section 4.04, which Taxes shall be paid (to the extent provided in Section 4.04) by
the respective Borrower or Borrowers, without any claim that the increased Taxes are not payable
because same resulted from the participations effected as otherwise required by this Section 1.14.

          1.15 Incremental Term Loan Commitments. (a) So long as the Incremental Term Loan
Commitment Request Requirements are satisfied at the time of the delivery of the request referred
to below, each Borrower shall have the right, in consultation and coordination with the
Administrative Agent as to all of the matters set forth below in this Section 1.15, but without
requiring the consent of any of the Lenders, to request, at any time and from time to time after
the Restatement Effective Date and prior to the date which is 12 months prior to the then latest
Maturity Date, that one or more Lenders (and/or one or more other Persons which are Eligible
Transferees and which will become Lenders) provide Incremental Term Loan Commitments to such
Borrower and, subject to the terms and conditions contained in this Agreement and in the
respective Incremental Term Loan Commitment Agreement, make Incremental Term Loans pursuant
thereto; it being understood and agreed, however, that (i) no Lender shall be obligated to provide
an Incremental Term Loan Commitment as a result of any

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such request by such Borrower, and until such time, if any, as such Lender has agreed in its sole
discretion to provide an Incremental Term Loan Commitment and executed and delivered to the
Administrative Agent an Incremental Term Loan Commitment Agreement as provided in clause (b) of
this Section 1.15 such Lender shall not be obligated to fund any Incremental Term Loans, (ii) any
Lender (including any Eligible Transferee who will become a Lender) may so provide an Incremental
Term Loan Commitment without the consent of any other Lender, (iii) each Tranche of Incremental
Term Loan Commitments shall be made available to a single Incremental Term Loan Borrower and shall
be denominated in Dollars, (iv) the amount of each Tranche of Incremental Term Loan Commitments
shall be in a minimum aggregate amount for all Lenders which provide an Incremental Term Loan
Commitment under such Tranche of Incremental Term Loans (including Eligible Transferees who will
become Lenders) of at least $25,000,000, (v) the aggregate amount of all Incremental Term Loan
Commitments provided pursuant to this Section 1.15 shall not exceed the Maximum Incremental Term
Loan Commitment Amount (it being understood and agreed, however, to the extent that any such
Incremental Term Loan Commitments are obtained but later expire, terminate or are voluntarily
reduced in each case without being utilized, the amount of such Incremental Term Loan Commitments
so expired, terminated or voluntarily reduced may again be available to be obtained under this
Section 1.15 within the limits set forth herein), (vi) the up-front fees and, if applicable, any
unutilized commitment fees and/or other fees, payable in respect of each Incremental Term Loan
Commitment shall be separately agreed to by Holdings, the respective Incremental Term Loan Borrower
and each Incremental Term Loan Lender (and with all such fees to be disclosed in writing by
Holdings to the Administrative Agent), (vii) each Tranche of Incremental Term Loans shall have (I)
(x) an Incremental Term Loan Maturity Date of no earlier than the then latest Maturity Date as then
in effect, and (y) a Weighted Average Life to Maturity of no less than the Weighted Average
Life to Maturity as then in effect for the Tranche of then outstanding Loans with the longest
Weighted Average Life to Maturity and (II) an “interest rate” or “interest rates” applicable to
such Tranche of Incremental Term Loans (which, for such purposes only, shall be determined by the
Administrative Agent and deemed to include all upfront or similar fees or original issue discount
(amortized over the life of such Incremental Term Loans) payable to all Lenders providing such
Incremental Term Loans, but exclusive of any arrangement, structuring or other fees payable in
connection therewith that are not shared with all Lenders providing such Tranche of Incremental
Term Loans) that may (at such time or from time to time thereafter) exceed the “interest rates”
applicable to the Term Loans provided that, in the event that the “interest rate” excess
applicable to such Tranche of Incremental Term Loans shall at such time be greater than 0.50% (or
its equivalent), the Applicable Margin for the Tranche B Term Loans, the Tranche C Term Loans and
each other then existing Tranche of Incremental Term Loans shall be increased by such amounts, and
for such time periods, as are needed so that at no time shall the “interest rate” for the
respective new Tranche of Incremental Term Loans (calculated as described above) exceed the
relevant interest rates applicable to the then existing Tranches of Term Loans by more than 0.50%;
provided further, that, at no time shall the provisions of this Section 1.15 be
construed to result in any decrease in any interest rate applicable to any then existing Tranche of
Term Loans (including after giving effect to any prior increases in interest rates applicable
thereto pursuant to the preceding provisions of this Section 1.15(a)), (viii) the proceeds of all
Incremental Term Loans shall be used only for the purposes permitted by Section 7.05(a), (ix) each
Incremental Term Loan Commitment Agreement shall specifically designate, with the approval of the
Administrative Agent, the Tranche of the Incremental Term Loan

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Commitments being provided thereunder (which Tranche shall be a new Tranche (i.e., not the
same as any existing Tranche of Incremental Term Loans, Incremental Term Loan Commitments or other
Term Loans) unless the requirements of Section 1.15(c) are satisfied), (x) all Incremental Term
Loans (and all interest, fees and other amounts payable thereon) shall be Obligations under this
Agreement and the other applicable Credit Documents and shall be secured by the relevant Security
Documents, and guaranteed under each relevant Guaranty, on a pari passu basis with
all other Loans of the applicable Borrower secured by each such Security Agreement and guaranteed
under each such Guaranty, and (xi) each Lender (including any Eligible Transferee who will become a
Lender) agreeing to provide an Incremental Term Loan Commitment pursuant to an Incremental Term
Loan Commitment Agreement shall, subject to the satisfaction of the relevant conditions set forth
in this Agreement, make Incremental Term Loans under the Tranche specified in such Incremental Term
Loan Commitment Agreement as provided in Section 1.01(c) and such Loans shall thereafter be deemed
to be Incremental Term Loans under such Tranche for all purposes of this Agreement and the other
applicable Credit Documents.

          (b) At the time of the provision of Incremental Term Loan Commitments pursuant to this
Section 1.15, the respective Incremental Term Loan Borrower, the Administrative Agent
and each such Lender or other Eligible Transferee which agrees to provide an Incremental Term Loan
Commitment (each, an “Incremental Term Loan Lender”) shall execute and deliver to the
Administrative Agent an Incremental Term Loan Commitment Agreement substantially in the form of
Exhibit P (appropriately completed), with the effectiveness of the Incremental Term Loan
Commitment provided therein to occur on the date set forth in such Incremental Term Loan Commitment
Agreement, which date in any event shall be no earlier than the date on which (w) all fees required
to be paid in connection therewith at the time of such effectiveness shall have been paid
(including, without limitation, any agreed upon up-front or arrangement fees owing to the
Administrative Agent), (x) all Incremental Term Loan Commitment Requirements are satisfied, (y) all
other conditions set forth in this Section 1.15 shall have been satisfied, and (z) all other
conditions precedent that may be set forth in such Incremental Term Loan Commitment Agreement shall
have been satisfied. The Administrative Agent shall promptly notify each Lender as to the
effectiveness of each Incremental Term Loan Commitment Agreement, and at such time, (i) Schedule I
shall be deemed modified to reflect the revised Incremental Term Loan Commitments of the affected
Lenders and (ii) to the extent requested by any Incremental Term Loan Lender, Incremental Term
Notes will be issued at the respective Incremental Term Loan Borrower’s expense, to such
Incremental Term Loan Lender, to be in conformity with the requirements of Section 1.05(d) (with
appropriate modification) to the extent needed to reflect the new Incremental Term Loans made by
such Incremental Term Loan Lender.

          (c) Notwithstanding anything to the contrary contained above in this Section 1.15, the
Incremental Term Loan Commitments provided by an Incremental Term Loan Lender or Incremental Term
Loan Lenders, as the case may be, pursuant to each Incremental Term Loan Commitment Agreement shall
constitute a new Tranche, which shall be separate and distinct from the existing Tranches pursuant
to this Agreement (with a designation which may be made in letters (i.e., A, B, C,
etc.), numbers (1, 2, 3, etc.) or a combination thereof (i.e., A-l, A-2,
B-l, B-2, C-l, C-2, etc.), provided that, with the consent of the Administrative
Agent, the parties to a given Incremental Term Loan Commitment Agreement may specify therein that
the respective

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Incremental Term Loans made pursuant thereto shall constitute part of, and be added to, an
existing Tranche of Incremental Term Loans or to the outstanding Tranche of Tranche B Term Loans
or Tranche C Term Loans, in either case so long as the following requirements are satisfied:

     (i) the Incremental Term Loans to be made pursuant to such Incremental Term Loan
Commitment Agreement shall have the same Borrower, shall have the same Maturity Date and
shall have the same Applicable Margins as the Tranche of Term Loans to which the new
Incremental Term Loans are being added;

     (ii) the new Incremental Term Loans shall have the same Scheduled Repayment dates as
then remain with respect to the Tranche to which such new Incremental Term Loans are being
added (with the amount of each Scheduled Repayment applicable to such new Incremental Term
Loans to be the same (on a proportionate basis) as is theretofore applicable to the Tranche
to which such new Incremental Term Loans are being added, thereby increasing the amount of
each then remaining Scheduled Repayment of the respective Tranche proportionately); and

     (iii) on the date of the making of such new Incremental Term Loans, and notwithstanding
anything to the contrary set forth in Section 1.09, such new Incremental Term Loans shall be
added to (and form part of) each Borrowing of outstanding Term Loans of the respective
Tranche on a pro rata basis (based on the relative sizes of the various
outstanding Borrowings), so that each Lender will participate proportionately in each then
outstanding Borrowing of Term Loans of the respective Tranche.

To the extent the provisions of preceding clause (iii) require that Lenders making new Incremental
Term Loans add such Incremental Term Loans to the then outstanding Borrowings of Eurodollar Loans
of such Tranche, it is acknowledged that the effect thereof may result in such new Incremental Term
Loans having short Interest Periods (i.e., an Interest Period that began during an Interest Period
then applicable to outstanding Eurodollar Loans of such Tranche and which will end on the last day
of such Interest Period). In connection therewith, the respective Incremental Term Loan Borrower
may agree, in the respective Incremental Term Loan Commitment Agreement, to compensate the Lenders
making the new Incremental Term Loans of the respective Tranche for funding Eurodollar Loans during
an existing Interest Period on such basis as may be agreed by such Incremental Term Loan Borrower
and the respective Incremental Term Loan Lender or Incremental Term Loan Lenders.

          Section 2 Letters of Credit; Bank Guaranties; Etc.

          Section 2A. Letters of Credit.

               2A.01 Letters of Credit. (a) Subject to and upon the terms and conditions herein set
forth, a Borrower may request an Issuing Lender, at any time and from time to time on and after
the Restatement Effective Date and prior to the fifth Business Day (or the 30th day in the case of
Trade Letters of Credit) preceding the CL Maturity Date, to issue, (x) for the account of the U.S.
Borrower (in the case of requests made by it) or the account of the Bermuda Borrower (in the case
of requests made by it) and for the benefit of any holder (or any trustee,

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agent or other similar representative for any such holders) of L/C Supportable Indebtedness of the
respective Account Party or any of its or their Wholly-Owned Subsidiaries, irrevocable standby
letters of credit in a form customarily used by such Issuing Lender or in such other form as has
been approved by such Issuing Lender (each such standby letter of credit, a “Standby Letter of
Credit”) in support of such L/C Supportable Indebtedness and (y) for the account of the
respective Account Party and for the benefit of sellers of goods to the respective Account Party or
any of its or their Subsidiaries in the ordinary course of business, irrevocable sight trade
letters of credit in a form customarily used by such Issuing Lender or in such other form as has
been approved by such Issuing Lender (each such trade letter of credit, a “Trade Letter of
Credit”, and each such Standby Letter of Credit and Trade Letter of Credit, a “Letter of
Credit” and, collectively, the “Letters of Credit”). All Letters of Credit shall be
issued on a sight basis only and shall be denominated in Dollars or, subject to the provisions of
Section 2C.03, an Alternative Currency. Each Letter of Credit shall be deemed to constitute a
utilization of the Credit-Linked Commitments and shall, subject to the provisions of Section 1.14
if a Sharing Event occurs, be participated in (as more fully described in following Section
2A.04(a)) by the CL Lenders in accordance with their respective CL Percentages (subject to the
provisions of Section 2C to the extent applicable). All Letters of Credit shall be denominated in
Dollars or an Alternative Currency. The Bermuda Borrower shall have no liability with respect to
any U.S. Borrower Letter of Credit which may be issued to the U.S. Borrower.

          (b) Subject to and upon the terms and conditions set forth herein, each Issuing Lender hereby
agrees (subject to Section 2C.03, to the extent applicable in the case of Non-Dollar Denominated
Letters of Credit) that it will, at any time and from time to time on and after the Restatement
Effective Date and prior to (i) the fifth Business Day in the case of Standby Letters of Credit,
or (ii) the 30th day, in the case of Trade Letters of Credit, preceding the CL Maturity Date,
following its receipt of the respective Letter of Credit Request, issue for the account of the
respective Account Party one or more Letters of Credit, (x) in the case of Trade Letters of
Credit, in support of trade obligations of the respective Account Party or any of its or their
Subsidiaries that arise in the ordinary course of business or (y) in the case of Standby Letters
of Credit, in support of such L/C Supportable Indebtedness as is permitted to remain outstanding
without giving rise to a Default or Event of Default hereunder; provided that the
respective Issuing Lender shall be under no obligation to issue any Letter of Credit if at the
time of such issuance:

     (i) any order, judgment or decree of any governmental authority or arbitrator shall
purport by its terms to enjoin or restrain such Issuing Lender from issuing such Letter of
Credit or any requirement of law applicable to such Issuing Lender or any request or
directive (whether or not having the force of law) from any governmental authority with
jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender
refrain from, the issuance of letters of credit generally or such Letter of Credit in
particular or shall impose upon such Issuing Lender with respect to such Letter of Credit any
restriction or reserve or capital requirement (for which such Issuing Lender is not otherwise
compensated) not in effect on the Restatement Effective Date, or any unreimbursed loss, cost
or expense which was not applicable, in effect or known to such Issuing Lender as of the
Restatement Effective Date and which such Issuing Lender in good faith deems material to it;
or

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     (ii) such Issuing Lender, prior to the issuance of such Letter of Credit, shall have
received written notice from any Credit Agreement Party or the Required Lenders of the type
described in clause (iv) of Section 2A.01(c) or the last sentence of Section 2A.03(b).

          (c) Notwithstanding the foregoing, (i) no Letter of Credit shall be issued at any time when
the Aggregate CL Exposure exceeds (or would after giving effect to such issuance exceed) either (x)
the Total Credit-Linked Commitment at such time or (y) the aggregate amount of the Credit-Linked
Deposits in the Credit-Linked Deposit Account at such time, (ii) (x) each Standby Letter of Credit
shall by its terms terminate on or before the date which occurs 12 months after the date of the
issuance thereof (although any such Standby Letter of Credit may be extendable for successive
periods of up to 12 months, but not beyond the fifth Business Day preceding the CL Maturity Date,
on terms acceptable to the Issuing Lender thereof), provided that a Standby Letter of
Credit issued to support obligations under any Specified Existing Ship Lease may terminate by its
terms on or prior to the earlier to occur of (1) the date which occurs 24 months after the date of
the issuance thereof and (2) the fifth Business Day preceding the CL Maturity Date and (y) each
Trade Letter of Credit shall by its terms terminate on or before the date occurring not later than
180 days after such Trade Letter of Credit’s date of issuance, (iii) (x) no Standby Letter of
Credit shall have an expiry date occurring later than the fifth Business Day preceding the CL
Maturity Date and (y) no Trade Letter of Credit shall have an expiry date occurring later than 30
days prior to the CL Maturity Date and (iv) no Issuing Lender will issue any Letter of Credit after
it has received written notice from any Credit Agreement Party or the Required Lenders stating that
a Default or an Event of Default exists until such time as such Issuing Lender shall have received
a written notice of (x) rescission of such notice from the party or parties originally delivering
the same or (y) a waiver of such Default or Event of Default by the Required Lenders.

          (d) Part A of Schedule XI hereto contains a description of certain letters of credit issued
(or deemed issued) pursuant to the Original Credit Agreement and outstanding on the Restatement
Effective Date (and setting forth, with respect to each such letter of credit, (i) the name of the
issuing lender, (ii) the letter of credit number, (iii) the name(s) of the account party or account
parties, (iv) the stated amount (including the currency in which such letter of credit is
denominated, which shall be Dollars or an Alternative Currency), (v) the name of the beneficiary,
(vi) the expiry date and (vii) whether such letter of credit constitutes a standby letter of credit
or a trade letter of credit). Each such letter of credit, including any extension or renewal
thereof (each, as amended from time to time in accordance with the terms thereof and hereof, an
“Existing Letter of Credit”) shall constitute a “Letter of Credit” and a “Bermuda Borrower
Letter of Credit” or a “U.S. Borrower Letter of Credit” (as set forth on Part A of Schedule XI) for
all purposes of this Agreement and issued, for purposes of Section 2A.04(a), on the Restatement
Effective Date. Any Lender hereunder (and any of such Lender’s Affiliates and/or branches) which
has issued an Existing Letter of Credit shall constitute an “Issuing Lender” for all purposes of
this Agreement.

               2A.02 Minimum Stated Amount. The Stated Amount of each Letter of Credit upon
issuance shall be not less than (x) in the case of a Dollar Denominated Letter of Credit,
$250,000, (y) in the case of a Euro Denominated Letter of Credit, €150,000 and (z) in the case of

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a Sterling Denominated Letter of Credit, £150,000, or in each case such lesser amount as is
reasonably acceptable to the respective Issuing Lender.

               2A.03
Letter of Credit Requests. (a) Whenever an Account Party desires that a Letter
of Credit be issued for its account, such Account Party shall give the Administrative Agent (at
the appropriate Notice Office) and the respective Issuing Lender at least 3 Business Days’ (or
such shorter period as is acceptable to such Issuing Lender in any given case) written notice
prior to the proposed date of issuance (which shall be a Business Day). Each notice shall be in
the form of Exhibit C-1 (each, a “Letter of Credit Request”), including, without
limitation, by specifying: (i) whether the requested Letter of Credit shall constitute a U.S.
Borrower Letter of Credit or a Bermuda Borrower Letter of Credit; and (ii) the currency in which
the requested Letter of Credit is to be denominated (which shall be Dollars or, to the extent
permitted hereunder, an Alternative Currency. Each Letter of Credit Request shall include any
other documents as such Issuing Lender customarily requires in connection therewith.

          (b) The making of each Letter of Credit Request shall be deemed to be a representation and
warranty by the applicable Account Party that such Letter of Credit may be issued in accordance
with, and will not violate the requirements of, Section 2A.01(c). Unless the respective Issuing
Lender has received notice from the Required Lenders before it issues a Letter of Credit that one
or more of the applicable conditions specified in Section 5 or 6, as the case may be, are not then
satisfied, or that the issuance of such Letter of Credit would violate Section 2A.01(c), then such
Issuing Lender may issue the requested Letter of Credit for the account of the respective Account
Party in accordance with such Issuing Lender’s usual and customary practices.

               2A.04
Letter of Credit Participations. (a) Immediately upon the issuance by any
Issuing Lender of any Letter of Credit, but subject to Section 2C.03 to the extent applicable in
the case of Non-Dollar Denominated Letters of Credit, such Issuing Lender shall be deemed to have
sold and transferred to each CL Lender (each such Lender with respect to any Letter of Credit, in
its capacity under this Section 2A.04, a “L/C Participant”), and each such L/C Participant
shall be deemed irrevocably and unconditionally to have purchased and received from such Issuing
Lender, without recourse or warranty, an undivided interest and participation (each an “L/C
Participation”), in a percentage equal to such L/C Participant’s CL Percentage in such Letter
of Credit, and each Drawing made thereunder and the obligations of the respective Account Party
under this Agreement with respect thereto (although CL Facility Fees shall be payable directly to
the Administrative Agent for the account of the CL Lenders as provided in Section 3.01 (a) and the
L/C Participants shall have no right to receive any portion of any Facing Fees or any
administration fees with respect to any such Letters of Credit) and any security therefor or
guaranty pertaining thereto. Upon any change in the Credit-Linked Commitments and, as a result
thereof, the CL Percentages of the CL Lenders pursuant to Section 1.13, or 13.04, it is hereby
agreed that with respect to all outstanding Letters of Credit and Unpaid Drawings relating thereto,
there shall be an automatic adjustment to the participations pursuant to this Section 2 A.04 to
reflect the new CL Percentages of the CL Lenders. With respect to each Letter of Credit from time
to time outstanding, all calculations of the percentage participations therein of the various CL
Lenders shall be made from time to time by the Administrative Agent, which calculations shall be
conclusive absent manifest error. Furthermore, upon the occurrence of a Sharing Event and as more
fully set forth in Section 1.14, additional sub-participations may be

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required to be granted by the various CL Lenders in their participations in outstanding Letters of
Credit, in each case in accordance with, and subject to the provisions of, Section 1.14.

          (b) In determining whether to pay under any Letter of Credit, the respective Issuing Lender
shall have no obligation relative to the other Lenders other than to confirm that any documents
required to be delivered under such Letter of Credit appear to have been delivered and that they
appear to substantially comply on their face with the requirements of such Letter of Credit. Any
action taken or omitted to be taken by any Issuing Lender under or in connection with any Letter of
Credit issued by it if taken or omitted in the absence of gross negligence or willful misconduct
(as determined by a court of competent jurisdiction in a final and non-appealable decision), shall
not create for such Issuing Lender any resulting liability to any Account Party or any Lender.

          (c) In the event that any Issuing Lender makes any payment or disbursement under any Letter of
Credit issued by it and the respective Account Party shall not have reimbursed such amount in full
to such Issuing Lender pursuant to Section 2A.05(a) by the date required by said Section 2A.05(a)
for such reimbursement, such Issuing Lender shall promptly notify the Administrative Agent, which
shall promptly notify each L/C Participant therein and the Deposit Bank of such failure, and each
CL Lender (including in its capacity as an L/C Participant) hereby irrevocably authorizes the
Deposit Bank (and the Deposit Bank hereby agrees) to reimburse such Issuing Lender for such amount
in Dollars (or, to the extent that the respective Unpaid Drawing is in an Alternative Currency, in
an amount equal to the Dollar Equivalent thereof, as determined by the Administrative Agent on the
date on which such payment or disbursement was made under the respective Letter of Credit) solely
from such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit with the Deposit Bank
in the Credit-Linked Deposit Account, in which case the Total Credit-Linked Commitment shall be
reduced by the amount so applied (with a corresponding reduction in the Credit-Linked Commitment of
each CL Lender equal to such CL Lender’s CL Percentage of such aggregate amount so applied);
provided that any portion of the Unpaid Drawings with respect to a Non- Dollar Denominated
Letter of Credit, which, because of currency fluctuations, represents amounts in excess of the
Total Credit-Linked Deposits (as more fully described in Section 2C.03), shall not be reimbursed
from Credit-Linked Deposits but shall instead be immediately repaid by the respective Account
Party. Furthermore, if any Specified Default or any Event of Default then exists, the respective
Issuing Lender may, with respect to any payment or disbursement made by it under any Letter of
Credit, request the Deposit Bank, in which case each CL Lender hereby irrevocably authorizes the
Deposit Bank (and the Deposit Bank hereby agrees), to reimburse the Issuing Lender, solely from
such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit in the Credit-Linked
Deposit Account with the Deposit Bank, for any Drawing under such Letter of Credit as provided in
the immediately preceding sentence (notwithstanding the date of reimbursement of any such Drawings
by the date required by Section 2A.05(a)), in which case the Total Credit-Linked Commitment shall
be reduced by the amount so applied as otherwise provided in the immediately preceding sentence,
and any amounts actually received pursuant to Section 2A. 05 (a) shall be applied to reimburse L/C
Participants as provided in following Section 2A.04(d).

          (d) Whenever any Issuing Lender receives a payment of a reimbursement obligation as to which
the Administrative Agent has received for the account of such Issuing

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Lender any payments from the L/C Participants (or from the Deposit Bank on their behalf) pursuant
to Section 2A.04(c) above, such Issuing Lender shall, after paying itself any amounts owing to it
as described in Section 2C.03 in the case of payments received with respect to Non-Dollar
Denominated Letters of Credit, pay (in same day funds in Dollars) to the Administrative Agent (and
the Administrative Agent shall promptly pay (in same day funds in Dollars) to each L/C Participant
which has paid its relevant CL Percentage thereof) an amount equal to such L/C Participant’s share
(based on the proportionate aggregate amount funded by such L/C Participant to the aggregate
amount funded by all L/C Participants) of the principal amount of such reimbursement obligation
and interest thereon accruing after the purchase of the respective participations.

          (e) Each Issuing Lender shall, promptly after the issuance of, or amendment or modification
to, a Standby Letter of Credit, give the Administrative Agent and the respective Account Party
written notice of such issuance, amendment or modification, as the case may be, and such notice
shall be accompanied by a copy of such Standby Letter of Credit, such amendment or such
modification, as the case may be. Promptly upon receipt of such notice, the Administrative Agent
shall notify each L/C Participant, in writing, of such issuance, amendment or modification and if
any L/C Participant shall so request, the Administrative Agent shall furnish said L/C Participant
with a copy of such Standby Letter of Credit, such amendment or such modification, as the case may
be.

          (f) Each Issuing Lender (other than DBAG) shall deliver to the
Administrative Agent and the Deposit Bank, promptly on the first Business Day of each week, by
facsimile transmission, the aggregate daily Stated Amount available to be drawn under the
outstanding Trade Letters of Credit issued by such Issuing Lender for the previous week.

          (g) The obligations of the L/C Participants to make payments to the Administrative
Agent for the account of the respective Issuing Lender with respect to Letters of Credit issued by
it shall be irrevocable and not subject to counterclaim, set-off or other defense or any other
qualification or exception whatsoever and shall be made in accordance with the terms and conditions
of this Agreement under all circumstances, including, without limitation, any of the following
circumstances:

     (i) any lack of validity or enforceability of this Agreement or any of the Credit
Documents;

     (ii) the existence of any claim, setoff, defense or other right which any Credit Party
or any of its Subsidiaries may have at any time against a beneficiary named in a Letter of
Credit, any transferee of any Letter of Credit (or any Person for whom any such transferee
may be acting), any Agent, any Lender, any Issuing Lender, any L/C Participant, or any other
Person, whether in connection with this Agreement, any Letter of Credit, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction
between any Credit Party or any of its Subsidiaries and the beneficiary named in any such
Letter of Credit);

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

     (iv) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Credit Documents; or

     (v) the occurrence of any Default or Event of Default;

provided that the L/C Participants shall not be obligated to reimburse such Issuing Lender
for any wrongful payment made by such Issuing Lender under a Letter of Credit issued by it as a
result of deliberate acts or omissions constituting willful misconduct or gross negligence on the
part of such Issuing Lender (as determined by a court of competent jurisdiction in a final and
non-appealable decision). Any action taken or omitted to be taken by any Issuing Lender under or
in connection with any Letter of Credit shall not create for such Issuing Lender any resulting
liability to the L/C Participants or any other Person unless such action is taken or omitted to be
taken with gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision).

               2A.05
Agreement to Repay Letter of Credit Drawings. (a) The U.S. Borrower hereby
agrees (in the case of U.S Borrower Letters of Credit), and the Bermuda Borrower hereby agrees (in
the case of Bermuda Borrower Letters of Credit) to reimburse the respective Issuing Lender, by
making payment in Dollars (or, if the respective Letter of Credit is denominated in an Alternative
Currency, in an amount equal to the Dollar Equivalent of the respective payment or disbursement,
as determined by the Administrative Agent on the date of such payment or disbursement) to the
Administrative Agent in immediately available funds at the Payment Office (or by making the
payment directly to such Issuing Lender at such location as may otherwise have been agreed upon by
the respective Account Party and such Issuing Lender), for any payment or disbursement (in the
case of any such payment or disbursement under any Non-Dollar Denominated Letter of Credit, taking
the Dollar Equivalent, as determined by the Administrative Agent, of the amount of the respective
payment or disbursement on the date upon which the respective payment or disbursement is made)
made by such Issuing Lender under any Letter of Credit issued by it (each such amount so paid
until reimbursed, an “Unpaid Drawing”), not later than the third Business Day after the
Administrative Agent or the Issuing Lender notifies the respective Account Party of such payment
or disbursement (provided that no such notice shall be required to be given if a Default
or an Event of Default under Section 10.05 shall have occurred and be continuing, in which case
all such Unpaid Drawings shall be due and payable immediately without presentment, demand, protest
or notice of any kind (all of which are hereby waived by the respective Account Party)), with
interest on the amount so paid or disbursed by such Issuing Lender, to the extent not reimbursed
prior to 1:00 P.M. (New York time), on the date of such payment or disbursement, from and
including the date paid or disbursed to but excluding the date such Issuing Lender is reimbursed
by the respective Account Party therefor at a rate per annum equal to the Base Rate in effect from
time to time plus the Applicable Margin for Tranche B Term Loans maintained as Base Rate
Loans, as in effect from time to time; provided, however, to the extent such
amounts are not reimbursed prior to 1:00 P.M. (New York time) on the third Business Day following
the receipt by the Account Party of notice to the respective Account Party by the Administrative
Agent or the respective Issuing

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Lender of such payment or disbursement (or, if sooner, from the date of occurrence of a Default or
an Event of Default under Section 10.05), interest shall thereafter accrue on the amounts so paid
or disbursed by such Issuing Lender (and until reimbursed by the respective Account Party) at a
rate per annum which is 2% in excess of the rate otherwise applicable to the respective Unpaid
Drawing as provided above, with all such interest payable pursuant to this Section 2A.05 to be
payable on demand. The respective Issuing Lender shall give the respective Account Party prompt
notice of each Drawing under any Letter of Credit, provided that the failure to give, or
any delay in giving, any such notice shall in no way affect, impair or diminish the respective
Account Party’s obligations under this Agreement. The obligations of the respective Account Party
to repay Unpaid Drawings as required above shall not be reduced, or satisfied, in any respect by
payments made to the Issuing Lender with any amounts on deposit in the Credit-Linked Deposit
Account or as otherwise provided in Section 2A.04(c).

          (b) The obligations of the U.S. Borrower (with respect to U.S. Borrower Letters of Credit) and
the obligations of the Bermuda Borrower (with respect to Bermuda Borrower Letters of Credit) under
this Section 2A.05 to reimburse the respective Issuing Lender with respect to Unpaid Drawings
(including, in each case, interest thereon) shall be absolute and unconditional under any and all
circumstances and irrespective of any setoff, counterclaim or defense to payment which the
respective Account Party may have or have had against any Lender (including in its capacity as
Issuing Lender or as L/C Participant), including, without limitation, any defense based upon the
failure of any drawing under a Letter of Credit (each, a “Drawing”) to conform to the terms
of such Letter of Credit or any non-application or misapplication by the beneficiary of the
proceeds of such Drawing, the respective Issuing Lender’s only obligation to the respective Account
Party being to confirm that any documents required to be delivered under such Letter of Credit
appear to have been delivered and that they appear to substantially comply on their face with
requirements of such Letter of Credit; provided, however, that no Account Party
shall be obligated to reimburse any Issuing Lender for any wrongful payment made by such Issuing
Lender under a Letter of Credit issued by it as a result of deliberate acts or omissions
constituting willful misconduct or gross negligence on the part of such Issuing Lender (as
determined by a court of competent jurisdiction in a final and non-appealable decision). Any action
taken or omitted to be taken by any Issuing Lender under or in connection with any Letter of Credit
shall not create for such Issuing Lender any resulting liability to any Account Party unless such
action is taken or admitted to be taken with gross negligence or willful misconduct (as determined
by a court of competent jurisdiction in a final and non-appealable decision).

               2A.06 Increased Costs. If after the Restatement Effective Date, the Deposit Bank, any
Issuing Lender or any L/C Participant determines in good faith that the adoption or effectiveness
after the Restatement Effective Date of any applicable law, rule or regulation, order, guideline
or request or any change therein, or any change after the Restatement Effective Date in the
interpretation or administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance by any Issuing
Lender or any L/C Participant with any request or directive (whether or not having the force of
law) by any such authority, central bank or comparable agency shall either (i) impose, modify or
make applicable any reserve, deposit, capital adequacy or similar requirement against Letters of
Credit issued by such Issuing Lender or such L/C Participant’s participation therein, or (ii)
impose on the Deposit Bank, any Issuing Lender or any L/C Participant any other

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conditions directly or indirectly affecting this Agreement, the Credit-Linked Deposits, any Letter
of Credit or such L/C Participant’s participation therein; and the result of any of the foregoing
is to increase the cost to the Deposit Bank, such Issuing Lender or such L/C Participant of
issuing, maintaining or participating in the Credit-Linked Deposits or any Letter of Credit, or to
reduce the amount of any sum received or receivable by the Deposit Bank, such Issuing Lender or
such L/C Participant hereunder or under the other Credit Documents or reduce the rate of return on
its capital with respect to Credit-Linked Deposits or Letters of Credit, then, upon written demand
to the U.S. Borrower or the Bermuda Borrower, as the case may be, by the Deposit Bank, such Issuing
Lender or such L/C Participant (a copy of which notice shall be sent by the Deposit Bank, such
Issuing Lender or such L/C Participant to the Administrative Agent), accompanied by the certificate
described in the last sentence of this Section 2A.06, the respective Account Party shall pay to the
Deposit Bank, such Issuing Lender or such L/C Participant for such increased cost or reduction. A
certificate submitted to the relevant Borrower by the Deposit Bank, such Issuing Lender or such L/C
Participant, as the case may be (a copy of which certificate shall be sent by the Deposit Bank,
such Issuing Lender or such L/C Participant to the Administrative Agent), setting forth in
reasonable detail the basis for the determination of such additional amount or amounts necessary to
compensate the Deposit Bank, such Issuing Lender or such L/C Participant as aforesaid shall be
final and conclusive and binding on such Account Party absent manifest error, although the failure
to deliver any such certificate shall not release or diminish such Account Party’s obligations to
pay additional amounts pursuant to this Section 2A.06 upon subsequent receipt of such certificate.

          Section 2B. Bank Guaranties.

               2B.01 Bank Guaranties. (a) Subject to and upon the terms and conditions herein set
forth, a Borrower may request a Bank Guaranty Issuer, at any time and from time to time on and
after the Restatement Effective Date and prior to the tenth Business Day preceding the CL Maturity
Date, to issue, for the account of the U.S. Borrower (in the case of requests made by it) or the
account of the Bermuda Borrower (in the case of requests made by it) and for the benefit of any
holder (or any trustee, agent or other similar representative for any such holders) of B/G
Supportable Indebtedness of the respective Account Party or any of its or their Wholly-Owned
Subsidiaries, a bank guaranty in a form customarily used by such Bank Guaranty Issuer or in such
other form as has been approved by such Bank Guaranty Issuer (each such bank guaranty, a “Bank
Guaranty” and collectively, the “Bank Guaranties”) in support of such B/G Supportable Indebtedness
(it being understood and agreed that (i) the form of Bank Guaranties shall be subject to the
respective Bank Guaranty Issuer’s internal policies and procedures for the issuance of bank
guaranties and to applicable local law restrictions and regulations and (ii) each Bank Guaranty
Issuer may request the respective Account Party to accept such Bank Guaranty Issuer’s general
business conditions specifically applicable to its bank guaranty business prior to the issuance of
any Bank Guaranty). Each Bank Guaranty shall constitute a utilization of the Credit-Linked
Commitments and shall, subject to the provisions of Section 1.14 if a Sharing Event occurs, be
participated in (as more fully described in following Section 2B.04(a)) by the CL Lenders in
accordance with their respective CL Percentages. All Bank Guaranties shall be denominated in
Dollars or an Alternative Currency and shall expressly provide the maximum amount that may be paid
thereunder. Each Bank Guaranty shall constitute either a U.S. Borrower Bank Guaranty or a Bermuda
Borrower Bank Guaranty. The Bermuda Borrower shall

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have no liability with respect to any U.S. Borrower Bank Guaranty which may be issued to the U.S.
Borrower.

          (b) Subject to and upon the terms and conditions set forth herein, each Bank Guaranty Issuer
hereby agrees (subject to Section 2C.03, to the extent applicable in the case of Non-Dollar
Denominated Bank Guaranties) that it will, at any time and from time to time on and after the
Restatement Effective Date and prior to the tenth Business Day preceding the CL Maturity Date,
following its receipt of the respective Bank Guaranty Request, issue for the account of the
respective Account Party one or more Bank Guaranties, in support of such B/G Supportable
Indebtedness as is permitted to remain outstanding without giving rise to a Default or Event of
Default hereunder; provided that the respective Bank Guaranty Issuer shall be under no
obligation to issue any Bank Guaranty if at the time of such issuance:

     (i) any order, judgment or decree of any governmental authority or arbitrator shall
purport by its terms to enjoin or restrain such Bank Guaranty Issuer from issuing such Bank
Guaranty or any requirement of law applicable to such Bank Guaranty Issuer or any request or
directive (whether or not having the force of law) from any governmental authority with
jurisdiction over such Bank Guaranty Issuer shall prohibit, or request that such Bank
Guaranty Issuer refrain from, the issuance of bank guaranties generally or such Bank
Guaranty in particular or shall impose upon such Bank Guaranty Issuer with respect to such
Bank Guaranty any restriction or reserve or capital requirement (for which such Bank
Guaranty Issuer is not otherwise compensated) not in effect on the Restatement Effective
Date, or any unreimbursed loss, cost or expense which was not applicable, in effect or known
to such Bank Guaranty Issuer as of the Restatement Effective Date and which such Bank
Guaranty Issuer in good faith deems material to it; or

     (ii) such Bank Guaranty Issuer, prior to the issuance of such Bank Guaranty, shall have
received written notice from any Credit Agreement Party or the Required Lenders prior to the
issuance of such Bank Guaranty of the type described in clause (v) of Section 2B.01(c) or the
last sentence of Section 2B.03(b).

          (c) Notwithstanding the foregoing, (i) no Bank Guaranty shall be issued at any time when the
Aggregate CL Exposure exceeds (or would after giving effect to such issuance exceed) either (x) the
Total Credit-Linked Commitment at such time or (y) the aggregate amount of the Credit-Linked
Deposits in the Credit-Linked Deposit Account at such time, and (ii) each Bank Guaranty shall by
its terms terminate on or before the date which occurs 12 months after the date of the issuance
thereof (although any such Bank Guaranty may be extendable for successive periods of up to 12
months, but not beyond the tenth Business Day preceding the CL Maturity Date, on terms acceptable
to the Bank Guaranty Issuer thereof), provided, however, that a Bank Guaranty shall
not be required to terminate by its terms on or before the twelve month anniversary of the date of
issuance thereof if the respective Account Party reasonably determines that the intended
beneficiary of such Bank Guaranty will not permit same to terminate as otherwise provided above,
(iii) no Bank Guaranty shall have an expiry date occurring later than the tenth Business Day
preceding the CL Maturity Date, provided, however, that a Bank Guaranty shall not
be required to have an expiry date as otherwise required above if the respective Account Party
reasonably determines that the beneficiary of such Bank Guaranty

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will not accept a Bank Guaranty with an expiry date, (iv) each Bank Guaranty shall be denominated
in Dollars or an Alternative Currency and (v) no Bank Guaranty Issuer will issue any Bank Guaranty
after it has received written notice from any Credit Agreement Party or the Required Lenders
stating that a Default or an Event of Default exists until such time as such Bank Guaranty Issuer
shall have received a written notice of (x) rescission of such notice from the party or parties
originally delivering the same or (y) a waiver of such Default or Event of Default by the Required
Lenders.

          (d) Part B of Schedule XI hereto contains a description of certain bank guaranties issued (or
deemed issued) pursuant to the Original Credit Agreement and outstanding on the Restatement
Effective Date (and setting forth, with respect to each such bank guaranty, (i) the name of the
bank guaranty issuer, (ii) the face amount (including the currency in which such bank guaranty is
denominated, which shall be Dollars or an Alternative Currency), (iii) the name of the
beneficiary, and (iv) the expiry date (if any)). Each such bank guaranty, including any extension
or renewal thereof (each, as amended from time to time in accordance with the terms thereof and
hereof, an “Existing Bank Guaranty”), shall constitute either a “Bermuda Borrower Bank
Guaranty” or a “U.S. Borrower Bank Guaranty” (as set forth on Part B of Schedule XI) for all
purposes of this Agreement and issued, for purposes of Section 2B.04(a), on the Restatement
Effective Date. Any Lender hereunder (and any of such Lender’s Affiliates and/or branches) which
has issued an Existing Bank Guaranty shall constitute a “Bank Guaranty Issuer” for all purposes of
this Agreement.

               2B.02 Minimum Face Amount. The Face Amount of each Bank Guaranty upon issuance shall
be not less than (x) in the case of a Dollar Denominated Bank Guaranty, $250,000, (y) in
the case of a Euro Denominated Bank Guaranty, €150,000 and (z) in the case of a Sterling
Denominated Bank Guaranty, £150,000, or in each case such lesser amount as is acceptable to the
respective Bank Guaranty Issuer.

               2B.03 Bank Guaranty Requests, (a) Whenever an Account Party desires that a Bank
Guaranty be issued for its account, such Account Party shall give the Administrative Agent (at the
appropriate Notice Office) and the respective Bank Guaranty Issuer at least 3 Business Days’ (or
such shorter period as is acceptable to such Bank Guaranty Issuer in any given case) written
notice prior to the proposed date of issuance (which shall be a Business Day). Each notice shall
be in the form of Exhibit C-2 (each, a “Bank Guaranty Request”), including, without
limitation, whether the requested Bank Guaranty shall constitute a U.S. Borrower Bank Guaranty or
a Bermuda Borrower Bank Guaranty and, by specifying the Available Currency in which the requested
Bank Guaranty is to be denominated. Each Bank Guaranty Request shall include any other documents
as such Bank Guaranty Issuer customarily requires in connection therewith.

          (b) The making of each Bank Guaranty Request shall be deemed to be a representation and
warranty by the U.S. Borrower or the Bermuda Borrower, as the case may be, that such Bank Guaranty
may be issued in accordance with, and will not violate the requirements of, Section 2B.01(c).
Unless the respective Bank Guaranty Issuer has received notice from the Required Lenders before it
issues a Bank Guaranty that one or more of the applicable conditions specified in Section 5 or 6,
as the case may be, are not then satisfied, or that the issuance of such Bank Guaranty would
violate Section 2B.01(c), then such Bank Guaranty Issuer may issue the

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requested Bank Guaranty for the account of the respective Account Party in accordance with such
Bank Guaranty Issuer’s usual and customary practices.

               2B.04
Bank Guaranty Participations. (a) Immediately upon the issuance by any Bank
Guaranty Issuer of any Bank Guaranty, but subject to Section 2C.03 to the extent applicable in the
case of Non-Dollar Denominated Bank Guaranties, such Bank Guaranty Issuer shall be deemed to have
sold and transferred to each CL Lender (each such Lender with respect to any Bank Guaranty, in its
capacity under this Section 2B.04, a “B/G Participant”), and each such B/G Participant
shall be deemed irrevocably and unconditionally to have purchased and received from such Bank
Guaranty Issuer, without recourse or warranty, an undivided interest and participation (each a
“B/G Participation”), in a percentage equal to such B/G Participant’s CL Percentage in such
Bank Guaranty, each Bank Guaranty Payment made thereunder and the obligations of the respective
Account Party under this Agreement with respect thereto (although CL Facility Fees shall be payable
directly to the Administrative Agent for the account of the CL Lenders as provided in Section 3.01
(a) and the B/G Participants shall have no right to receive any portion of any Fronting Fees or any
administration fees with respect to any such Bank Guaranties) and any security therefor or guaranty
pertaining thereto. Upon any change in the Credit-Linked Commitments and, as a result thereof the
CL Percentages, of the CL Lenders pursuant to Section 1.13 or 13.04, it is hereby agreed that, with
respect to all outstanding Bank Guaranties and Unreimbursed Payments relating thereto, there shall
be an automatic adjustment to the participations pursuant to this Section 2B.04 to reflect the new
CL Percentages of the CL Lenders. With respect to each Bank Guaranty from time to time outstanding,
all calculations of the percentage participations therein of the various CL Lenders shall be made
from time to time by the Administrative Agent, which calculations shall be conclusive absent
manifest error. Furthermore, upon the occurrence of a Sharing Event and as more fully set forth in
Section 1.14, additional sub-participations may be required to be granted by the various CL Lenders
in their participations in outstanding Bank Guaranties, in each case in accordance with, and
subject to the provisions of, Section 1.14.

          (b) In determining whether to pay under any Bank Guaranty, the respective Bank Guaranty Issuer
shall have no obligation relative to the other Lenders other than to confirm that any documents
required to be delivered under such Bank Guaranty appear to have been delivered and that they
appear to substantially comply on their face with the requirements of such Bank Guaranty. Any
action taken or omitted to be taken by any Bank Guaranty Issuer under or in connection with any
Bank Guaranty issued by it if taken or omitted in the absence of gross negligence or willful
misconduct (as determined by a court of competent jurisdiction in a final and non-appealable
decision), shall not create for such Bank Guaranty Issuer any resulting liability to the respective
Account Party or any Lender.

          (c) In the event that any Bank Guaranty Issuer makes any payment or disbursement under any
Bank Guaranty issued by it and the respective Account Party shall not have reimbursed such amount
in full to such Bank Guaranty Issuer pursuant to Section 2B.05(a) by the date required by said
Section 2B.05(a) for such reimbursement, such Bank Guaranty Issuer shall promptly notify the
Administrative Agent, which shall promptly notify each B/G Participant therein and the Deposit Bank
of such failure, and each CL Lender (including in its capacity as a B/G Participant) hereby
irrevocably authorizes the Deposit Bank (and the Deposit Bank hereby agrees) to reimburse such Bank
Guaranty Issuer for such amount in Dollars (or, to

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the extent that the respective Unreimbursed Payment is in an Alternative Currency, in an amount
equal to the Dollar Equivalent thereof, as determined by the Administrative Agent on the date on
which such payment or disbursement was made under the respective Bank Guaranty) solely from such
B/G Participant’s CL Percentage of the Credit-Linked Deposits on deposit with the Deposit Bank in
the Credit-Linked Deposit Account, in which case the Total Credit-Linked Commitment shall be
reduced by the amount so applied (with a corresponding reduction in the Credit-Linked Commitment
of each CL Lender equal to such CL Lender’s CL Percentage of such aggregate amount so applied);
provided that any portion of the Unreimbursed Payments with respect to a Non-Dollar
Denominated Bank Guaranty which, because of currency fluctuations, represents amounts in excess of
the Total Credit-Linked Deposits, as more fully described in Section 2C.03, shall not be
reimbursed from Credit-Linked Deposits but shall instead be immediately repaid by the respective
Account Party. Furthermore, if any Specified Default or any Event of Default then exists, the
respective Bank Guaranty Issuer may, with respect to any payment or disbursement made by it under
any Bank Guaranty, request of the Deposit Bank, in which case each CL Lender hereby irrevocably
authorizes the Deposit Bank (and the Deposit Bank hereby agrees), to reimburse the Bank Guaranty,
solely from such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit in the
Credit-Linked Deposit Account with the Deposit Bank for any Bank Guaranty Payment made by such
Bank Guaranty Issuer under such Bank Guaranty, as provided in the immediately preceding sentence
(notwithstanding the date of reimbursement of any such Bank Guaranty Payment by the date required
by Section 2B.05(a)), in which case the Total Credit-Linked Commitment shall be reduced by the
amount so applied as otherwise provided in the immediately preceding sentence, and any amounts
actually received pursuant to Section 2B.05(a) shall be applied to reimburse B/G Participants as
provided in following Section 2B.04(d)

          (d) Whenever any Bank Guaranty Issuer receives a payment of a reimbursement
obligation as to which the Administrative Agent has received for the account of such Bank Guaranty
Issuer any payments from the B/G Participants (or from the Deposit Bank on their behalf) pursuant
to Section 2B.04(c) above, such Bank Guaranty Issuer shall, after paying itself any amounts owing
to it as described in Section 2C.03 in the case of payments received with respect to Non-Dollar
Denominated Bank Guaranties, pay (in same day funds in Dollars) to the Administrative Agent (and
the Administrative Agent shall promptly pay (in same day funds in Dollars) each B/G Participant
which has paid its CL Percentage thereof), an amount equal to such B/G Participant’s share (based
on the proportionate aggregate amount funded by such B/G Participant to the aggregate amount funded
by all B/G Participants) of the principal amount of such reimbursement obligation and interest
thereon accruing after the purchase of the respective participations.

          (e) Each Bank Guaranty Issuer shall, promptly after the issuance of, or amendment or
modification to, a Bank Guaranty, give the Administrative Agent and the respective Account Party
written notice of such issuance, amendment or modification, as the case may be, and such notice
shall be accompanied by a copy of such Bank Guaranty, such amendment or such modification, as the
case may be. Promptly upon receipt of such notice, the Administrative Agent shall notify each B/G
Participant, in writing, of such issuance, amendment or modification and if any B/G Participant
shall so request, the Administrative Agent shall furnish said B/G Participant with a copy of such
Bank Guaranty, such amendment or such modification, as the case may be.

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          (f) Each Bank Guaranty Issuer (other than DBAG) shall deliver to the Administrative Agent and the
Deposit Bank, promptly on the first Business Day of each week, by facsimile transmission, the
aggregate daily Face Amount available to be drawn under each outstanding Bank Guaranty issued by
such Bank Guaranty Issuer for the previous week.

          (g) The obligations of the B/G Participants to make payments to the Administrative
Agent for the account of the respective Bank Guaranty Issuer with respect to Bank Guaranties issued
by it shall be irrevocable and not subject to counterclaim, set-off or other defense or any other
qualification or exception whatsoever and shall be made in accordance with the terms and conditions
of this Agreement under all circumstances, including, without limitation, any of the following
circumstances:

     (i) any lack of validity or enforceability of this Agreement or any of the Credit
Documents;

     (ii) the existence of any claim, setoff, defense or other right which any Credit Party
or any of its Subsidiaries may have at any time against a beneficiary named in a Bank
Guaranty, any transferee of any Bank Guaranty (or any Person for whom any such transferee may
be acting), any Agent, any Lender, any Bank Guaranty Issuer, any B/G Participant, or any
other Person, whether in connection with this Agreement, any Bank Guaranty, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction
between any Credit Party or any of its Subsidiaries and the beneficiary named in any such
Bank Guaranty);

     (iii) any draft, certificate or any other document presented under any Bank Guaranty
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement
therein being untrue or inaccurate in any respect;

     (iv) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Credit Documents; or

     (v) the occurrence of any Default or Event of Default;

provided that the B/G Participants shall not be obligated to reimburse such Bank Guaranty
Issuer for any wrongful payment made by such Bank Guaranty Issuer under a Bank Guaranty issued by
it as a result of deliberate acts or omissions constituting willful misconduct or gross negligence
on the part of such Bank Guaranty Issuer (as determined by a court of competent jurisdiction in a
final and non-appealable decision). Any action taken or omitted to be taken by any Bank Guaranty
Issuer under or in connection with any Bank Guaranty shall not create for such Bank Guaranty Issuer
any resulting liability to the B/G Participants or any other Person unless such action is taken or
omitted to be taken with gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final and non-appealable decision).

               2B.05 Agreement to Repay Bank Guaranty Payments. (a) The U.S. Borrower hereby agrees
(in the case of U.S. Borrower Bank Guaranties) and the Bermuda Borrower hereby agrees (in the case
of Bermuda Borrower Bank Guaranties) to reimburse the respective Bank Guaranty Issuer, by making
payment in Dollars (if the respective Bank Guaranty is denominated in an Alternative Currency, in
an amount equal to the Dollar Equivalent of the

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respective payment or disbursement, as determined by the Administrative Agent on the date of such
payment or disbursement) to the Administrative Agent in immediately available funds at the Payment
Office (or by making the payment directly to such Bank Guaranty Issuer at such location as may
otherwise have been agreed upon by the respective Account Party and such Bank Guaranty Issuer), for
any payment or disbursement (in the case of any such payment or disbursement under any Non-Dollar
Denominated Bank Guaranty, taking the Dollar Equivalent, as determined by the Administrative Agent,
of the amount of the respective payment or disbursement on the date upon which the respective
payment or disbursement is made) made by such Bank Guaranty Issuer under any Bank Guaranty issued
by it (each such amount so paid until reimbursed, an “Unreimbursed Payment”), not later
than the third Business Day after the Administrative Agent or the Bank Guaranty Issuer notifies the
respective Account Party of such payment or disbursement (provided that no such notice
shall be required to be given if a Default or an Event of Default under Section 10.05 shall have
occurred and be continuing, in which case all such Unreimbursed Payments shall be due and payable
immediately without presentment, demand, protest or notice of any kind (all of which are hereby
waived by the respective Account Party)), with interest on the amount so paid or disbursed by such
Bank Guaranty Issuer, to the extent not reimbursed prior to 1:00 P.M. (New York time), on the date
of such payment or disbursement, from and including the date paid or disbursed to but excluding the
date such Bank Guaranty Issuer is reimbursed by the respective Account Party therefor at a rate
per annum which shall be equal to Base Rate in effect from time to time
plus the Applicable Margin for Tranche B Term Loans maintained as Base Rate Loans, as in
effect from time to time; provided, however, to the extent such amounts are not
reimbursed prior to 1:00 P.M. (New York time) on the third Business Day following the receipt by an
Account Party of notice of such payment or disbursement (or, if sooner, from the date of occurrence
of a Default or an Event of Default under Section 10.05, interest shall thereafter accrue on the
amounts so paid or disbursed by such Bank Guaranty Issuer (and until reimbursed by the respective
Account Party) at a rate per annum which is 2% in excess of the rate otherwise applicable to the
respective Unreimbursed Payment as provided above, with all such interest payable pursuant to this
Section 2B.05 to be payable on demand. The respective Bank Guaranty Issuer shall give the
respective Account Party prompt notice of each Bank Guaranty Payment under any Bank Guaranty,
provided that the failure to give, or any delay in giving, any such notice shall in no way
affect, impair or diminish the respective Account Party’s obligations under this Agreement. The
obligations of the respective Account Party to repay Unreimbursed Payments as required above shall
not be reduced, or satisfied, in any respect by payments made to the Issuing Lender with any
amounts on deposit in the Credit-Linked Deposit Account or as otherwise provided in Section
2B.04(c).

          (b) The obligations of the U.S. Borrower (with respect to U.S. Borrower Bank Guaranties) and
the Bermuda Borrower (with respect to Bermuda Borrower Bank Guaranties) under this Section 2B.05
to reimburse the respective Bank Guaranty Issuer with respect to Unreimbursed Payments (including,
in each case, interest thereon) shall be absolute and unconditional under any and all
circumstances and irrespective of any setoff, counterclaim or defense to payment which the
respective Account Party may have or have had against any Lender (including in its capacity as
Bank Guaranty Issuer or as B/G Participant), including, without limitation, any defense based upon
the failure of any payment under a Bank Guaranty (each, a “Bank Guaranty Payment”) to
conform to the terms of such Bank Guaranty or any nonapplication or misapplication by the
beneficiary of the proceeds of such Bank Guaranty Payment, the respective Bank Guaranty Issuer’s
only obligation to the respective Account Party

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being to confirm that any documents required to be delivered under such Bank Guaranty appear to
have been delivered and that they appear to substantially comply on their face with requirements of
such Bank Guaranty; provided, however, that no Account Party shall be obligated to
reimburse any Bank Guaranty Issuer for any wrongful payment made by such Bank Guaranty Issuer under
a Bank Guaranty issued by it as a result of deliberate acts or omissions constituting willful
misconduct or gross negligence on the part of such Bank Guaranty Issuer (as determined by a court
of competent jurisdiction in a final and non-appealable decision). Any action taken or omitted to
be taken by any Bank Guaranty Issuer under or in connection with any Bank Guaranty shall not create
for such Bank Guaranty Issuer any resulting liability to any Account Party unless such action is
taken or admitted to be taken with gross negligence or willful misconduct (as determined by a court
of competent jurisdiction in a final and non-appealable decision).

               2B.06 Increased Costs. If after the Restatement Effective Date, the Deposit Bank, any Bank Guaranty Issuer or any B/G Participant determines in good faith that the adoption or
effectiveness after the Restatement Effective Date of any applicable law, rule or regulation,
order, guideline or request or any change therein, or any change after the Restatement Effective
Date in the interpretation or administration thereof by any governmental authority, central bank
or comparable agency charged with the interpretation or administration thereof, or compliance by
the Deposit Bank, any Bank Guaranty Issuer or any B/G Participant with any request or directive
(whether or not having the force of law) by any such authority, central bank or comparable agency
shall either (i) impose, modify or make applicable any reserve, deposit, capital adequacy or
similar requirement against Bank Guaranties issued by such Bank Guaranty Issuer or such B/G
Participant’s participation therein, or (ii) impose on the Deposit Bank, any Bank Guaranty Issuer
or any B/G Participant any other conditions directly or indirectly affecting this Agreement, the
Credit-Linked Deposits, any Bank Guaranty or such B/G Participant’s participation therein; and the
result of any of the foregoing is to increase the cost to the Deposit Bank, such Bank Guaranty
Issuer or such B/G Participant of issuing, maintaining or participating in the Credit-Linked
Deposits, any Bank Guaranty, or to reduce the amount of any sum received or receivable by the
Deposit Bank, such Bank Guaranty Issuer or such B/G Participant hereunder or under the other
Credit Documents or reduce the rate of return on its capital with respect to Bank Guaranties,
then, upon written demand to the U.S. Borrower or the Bermuda Borrower, as the case may be, by the
Deposit Bank, such Bank Guaranty Issuer or such B/G Participant (a copy of which notice shall be
sent by the Deposit Bank, such Bank Guaranty Issuer or such B/G Participant to the Administrative
Agent), accompanied by the certificate described in the last sentence of this Section 2B.06, the
respective Account Party shall pay to the Deposit Bank, such Bank Guaranty Issuer or such B/G
Participant for such increased cost or reduction. A certificate submitted to the relevant Account
Party by the Deposit Bank, such Bank Guaranty Issuer or such B/G Participant, as the case may be
(a copy of which certificate shall be sent by the Deposit Bank, such Bank Guaranty Issuer or such
B/G Participant to the Administrative Agent), setting forth in reasonable detail the basis for the
determination of such additional amount or amounts necessary to compensate the Deposit Bank, such
Bank Guaranty Issuer or such B/G Participant as aforesaid shall be final and conclusive and
binding on such Account Party absent manifest error, although the failure to deliver any such
certificate shall not release or diminish such Account Party’s obligations to pay additional
amounts pursuant to this Section 2B.06 upon subsequent receipt of such certificate.

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               2B.07 Cash Collateralization. No later than the date occurring ten Business Days
prior to the CL Maturity Date, the U.S. Borrower or the Bermuda Borrower, as the case may be,
shall either (i) terminate each Bank Guaranty issued to it without an expiry date (and cause each
such terminated Bank Guaranty to be surrendered for termination to the respective Bank Guaranty
Issuer) or (ii) enter into cash collateral arrangements with each Bank Guaranty Issuer which shall
have issued a Bank Guaranty to it without an expiry date on terms satisfactory to such Bank
Guaranty Issuer and the Administrative Agent, with the U.S. Borrower or the Bermuda Borrower, as
the case may be, depositing cash and/or Cash Equivalents (in the respective currency or currencies
of the respective Bank Guaranties, and in such amounts as will fully cash collateralize the
maximum future payments that could be made under the respective Bank Guaranties) pursuant to such
cash collateral arrangements to be held as security for all Bank Guaranty Outstandings of the U.S.
Borrower or the Bermuda Borrower, as the case may be, in respect of such Bank Guaranties. If (and
only if) all actions required above are taken to the satisfaction of the relevant Bank Guaranty
Issuers and the Administrative Agent, the Aggregate CL Exposure attributable to the Bank
Guaranties so fully cash collateralized shall be deemed to be $0 (including for purposes of
Section 2C.04(a); provided that unless and until such actions are taken the full amount of
Bank Guaranty Outstandings relating thereto shall be included in determining the Aggregate CL
Exposure (including for purposes of Section 2C.04(a)).

          Section 2C. Special Provisions.

               2C.01 Credit-Linked Deposit Account. (a) On the Restatement Effective Date and subject
to the satisfaction of the conditions precedent set forth in Sections 5 and 6, each CL Lender on
such date shall pay to the Deposit Bank such CL Lender’s Credit-Linked Deposit. The Credit-Linked
Deposits shall be held by the Deposit Bank in (or credited to) the Credit-Linked Deposit Account,
and no Person other than the Deposit Bank shall have a right of withdrawal from the Credit-Linked
Deposit Account or any other right or power with respect to the Credit-Linked Deposits.
Notwithstanding anything herein to the contrary, the funding obligation of each CL Lender in
respect of its participation in CL Credit Events shall be satisfied in full upon the funding in
full of its Credit-Linked Deposit.

          (b) Each of the Deposit Bank, the Administrative Agent, each Issuing Lender, each Bank
Guaranty Issuer and each CL Lender hereby acknowledges and agrees that (i) each CL Lender is
funding its Credit-Linked Deposit to the Deposit Bank for application in the manner contemplated
by Sections 2A.04 and 2B.04, (ii) the Deposit Bank may invest the Credit-Linked Deposits in such
investments as may be determined from time to time by the Deposit Bank and (iii) the Deposit Bank
has agreed to pay to the Administrative Agent, who shall in turn pay to each CL Lender, a return
on its Credit-Linked Deposit (except (x) during periods when such Credit-Linked Deposits are used
to reimburse an Issuing Lender or a Bank Guaranty Issuer, as the case may be, with respect to
payments and disbursements on Letters of Credit and/or Bank Guaranties or (y) as otherwise
provided in Sections 2C.01(d) and 2C.01(e)) for each CL Lender equal at any time to the LIBOR Rate
for the Interest Period in effect for the Credit-Linked Deposits at such time less the
Credit-Linked Deposit Cost Amount at such time. Such interest will be paid to the CL Lenders
(solely from amounts received by it from the Deposit Bank) at the LIBOR Rate for an Interest
Period of three months (or at an amount determined in accordance

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with Sections 2C.01(d) or 2C.01(e), as applicable) less, in each case, the Credit-Linked
Deposit Cost Amount in arrears on each CL Interest Payment Date.

          (c) The U.S. Borrower, the Bermuda Borrower or any other Credit Party shall not have (x) any
right, title or interest in or to the Credit-Linked Deposit Account or the Credit- Linked Deposits
and/or (y) any obligations with respect thereto (except to refund portions thereof used to
reimburse (I) an Issuing Lender with respect to payments or disbursements on Letters of Credit as
provided in Section 2A.04 and/or (II) a Bank Guaranty Issuer with respect to payments or
disbursements on Bank Guaranties as provided in Section 2B.04), it being acknowledged and agreed by
the parties hereto that the funding of the Credit-Linked Deposits by the CL Lenders to the Deposit
Bank for deposit in the Credit-Linked Deposit Account and the application of the Credit-Linked
Deposits in the manner contemplated by Sections 2A.04 and 2B.04 constitute agreements among the
Deposit Bank, the Administrative Agent, each Issuing Lender, each Bank Guaranty Issuer and each CL
Lender with respect to the L/C Participations in the Letters of Credit and the B/G Participations
in the Bank Guaranties and do not constitute any loan or extension of credit to the U.S. Borrower,
the Bermuda Borrower or any other Credit Party.

          (d) If the Deposit Bank is not offering Dollar deposits (in the applicable amounts) in the
applicable Eurodollar interbank market, or the Deposit Bank determines that adequate and fair means
do not otherwise exist for ascertaining the LIBOR Rate for the Credit- Linked Deposits (or any part
thereof), then the Credit-Linked Deposits (or such parts, as applicable) shall be invested so as to
earn a return equal to the greater of (x) the Federal Funds Rate and (y) a rate determined by the
Deposit Bank in accordance with banking industry rules on interbank compensation.

          (e) If any (x) payment or disbursement under a Letter of Credit that has been funded by the CL
Lenders from the Credit-Linked Deposits as provided in Section 2A.04(c) or (y) payment or
disbursement under a Bank Guaranty that has been funded by the CL Lenders from the Credit-Linked
Deposits as provided in Section 2B.04(c) shall, in either case, be reimbursed by the applicable
Account Party (or another Person on its behalf) on a day other than on the last day of an Interest
Period or Scheduled Investment Termination Date applicable to the Credit-Linked Deposits, the
Administrative Agent shall, upon receipt thereof, pay over such amounts to the Deposit Bank which,
in turn, will invest the amount so reimbursed in overnight or short-term cash equivalent
investments until the end of the Interest Period or Scheduled Investment Termination Date at the
time in effect and the respective Account Party shall pay to the Deposit Bank, upon the Deposit
Bank’s request therefor (provided that if an Event of Default specified in Section 10.05
shall occur with respect to either Borrower, the result which would occur upon the giving of such
request by the Deposit Bank shall occur automatically without the giving of any such request), the
amount, if any, by which the interest accrued on a like amount of the Credit-Linked Deposits at the
LIBOR Rate for the Interest Period in effect therefor shall exceed the interest earned through the
investment of the amount so reimbursed for the period from the date of such repayment or
reimbursement through the end of the applicable Interest Period, as determined by the Deposit Bank
(such determination shall, absent manifest error, be final and conclusive and binding on all
parties hereto) and set forth in the request for payment delivered to the respective Account Party.
In the event that the respective Account Party shall fail to pay any amount due under this Section
2C.01(e), the interest payable by the Deposit Bank

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to the CL Lenders on their Credit-Linked Deposits under Section 2C.01(b) shall be correspondingly
reduced and the CL Lenders shall, without further act, succeed, ratably in accordance with their
respective CL Percentages, to the rights of the Deposit Bank with respect to such amount due from
the respective Account Party. All reimbursements of (x) Drawings under Letters of Credit that have
been funded by the CL Lenders from the Credit-Linked Deposits as provided in Section 2A.04(c) or
(y) Bank Guaranty Payments under Bank Guaranties that have been funded by the CL Lenders from the
Credit-Linked Deposits as provided in Section 2B.04(c), in each case received by the Administrative
Agent prior to the termination of the Total Credit-Linked Commitment, shall be paid over to the
Deposit Bank which will deposit same in the Credit-Linked Deposit Account. The Account Party shall
not have any responsibility or liability to the CL Lenders, the Administrative Agent, the Issuing
Lender or any other Person in respect of the establishment, maintenance, administration or
misappropriation of the Credit-Linked Deposit Account or with respect to the investment of amounts
held therein; provided, however, that notwithstanding anything to the contrary
contained in this Section 2C.01(e), the Administrative Agent, acting in its capacity as such, shall
be entitled to the indemnities provided elsewhere in this Agreement.

               2C.02 European Monetary Union. The following provisions of this Section 2C.02 shall
come into effect on and from the date on which the United Kingdom becomes a Participating Member
State. Each obligation under this Agreement which has been denominated in Sterling shall be
redenominated into Euros in accordance with the relevant EMU Legislation. However, if and to the
extent that the relevant EMU Legislation provides that an amount which is denominated in Sterling
can be paid by the debtor either in Euros or in that national currency unit, each party to this
Agreement shall be entitled to pay or repay any amount denominated or owing in Sterling hereunder
either in Euros or in Sterling. Without prejudice and in addition to any method of conversion or
rounding prescribed by any relevant EMU Legislation, (i) each reference in this Agreement to a
minimum amount (or an integral multiple thereof) in Sterling shall be replaced by a reference to
such reasonably comparable and convenient amount (or an integral multiple thereof) in Euros as the
Administrative Agent may from time to time specify and (ii) except as expressly provided in this
Section 2C.02, this Agreement shall be subject to such reasonable changes of construction as the
Administrative Agent may from time to time specify to be necessary or appropriate to reflect the
introduction of or changeover to Euros in the United Kingdom, provided that this Section
2C.02 shall not reduce or increase any actual or contingent liability arising under this
Agreement.

               2C.03 Special Provisions Regarding Non-Dollar Denominated Letters of Credit and Non-Dollar
Denominated Bank Guaranties. As an accommodation to each of the Account Parties, it is
understood and agreed that the respective Issuing Lenders and Bank Guaranty Issuers may, but shall
not be obligated to, issue from time to time Letters of Credit or Bank Guaranties, as the case may
be, denominated in Alternative Currencies, otherwise in accordance with the relevant provisions of
this Section 2. The respective Issuing Lender or Bank Guaranty Issuer, as the case may be, may, at
any time, in its sole discretion, determine not to issue Letters of Credit or Bank Guaranties, as
the case may be, denominated in any Alternative Currency. If any Non-Dollar Denominated Letters of
Credit and/or Non-Dollar Denominated Bank Guaranties are from time to time issued, it is understood
that the definitions of Stated Amount (in the case of Non-Dollar Denominated Letters of Credit) and
Face Amount (in the case of Non-Dollar Denominated Bank Guaranties) contained in this Agreement are
each, respectively,

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designed to provide (pursuant to the proviso thereto) a cushion to reduce the risk that the sum of
(x) the aggregate Unpaid Drawings with respect to the Letters of Credit and (y) the aggregate
Unreimbursed Payments with respect to the Bank Guaranties would ever exceed the aggregate amount of
Credit-Linked Deposits available to repay same. Nonetheless, it is possible, because of currency
fluctuations, that the sum of the aggregate Letter of Credit Outstandings and Bank Guaranty
Outstandings would exceed the amount of Credit-Linked Deposits from time to time. If that situation
ever occurs at any time, the U.S. Borrower and/or the Bermuda Borrower, as the case may be, shall
immediately make all payments required pursuant to Section 4.02(a). Furthermore, if a Drawing
occurs under any Non-Dollar Denominated Letter of Credit or a Bank Guaranty Payment occurs under
any Non-Dollar Denominated Bank Guaranty at a time when the sum of the aggregate Letter of Credit
Outstandings and Bank Guaranty Outstandings exceeds the Total Credit-Linked Deposits as a result of
currency fluctuations after the initial issuance of the respective Non-Dollar Denominated Letter of
Credit and/or Non-Dollar Denominated Bank Guaranty, as the case may be, then, unless the respective
Account Party repays such Drawing and/or Bank Guaranty Payment (or the portion thereof which
represents the excess amounts described above), (x) the respective Issuing Lender shall bear the
risk on that portion of the Unpaid Drawings with respect to such Non-Dollar Denominated Letter of
Credit which represents the excess of the sum of the aggregate Letter of Credit Outstandings and
Bank Guaranty Outstandings over the amount of Credit-Linked Deposits (but only to the extent caused
by currency fluctuations after the issuance of the respective Non-Dollar Denominated Letter of
Credit) and (y) the respective Bank Guaranty Issuer shall bear the risk on that portion of the Bank
Guaranty Payments with respect to such Non-Dollar Denominated Bank Guaranties which represents the
excess of the sum of the aggregate Letter of Credit Outstandings and Bank Guaranty Outstandings
over the amount of Credit-Linked Deposits (but only to the extent caused by currency fluctuations
after the issuance of the respective Non-Dollar Denominated Bank Guaranty), and any payments
received by the Issuing Lender or Bank Guaranty Issuer, as the case may be, (or others on their
respective behalf) with respect to such Unpaid Drawings (and interest thereon, which shall in any
event be payable at the rates specified in Section 2A.05 (a)) and/or Unreimbursed Payments (and
interest thereon, which shall in any event be payable at the rates specified in Section 2B.05(a)),
shall be retained by the respective Issuing Lender or Bank Guaranty Issuer, as the case may be, for
its own account. Any amounts owing to an Issuing Lender or Bank Guaranty Issuer as described above
in this Section 2C.03 shall be entitled to elevated priorities with respect to cash collateral as
described in Section 4.02(a) and the enhanced priorities described in Section 7.4 of the U.S.
Security Agreement.

               2C.04 Special Provisions Regarding Return Of Credit-Linked Deposits. (a) At the time
of any termination or reduction of the Total Credit-Linked Commitment pursuant to Sections
2A.04(c), 2B.04(c), 3.02(b), 3.03 or 10, the Deposit Bank shall return to the Administrative Agent
who shall, in turn, return to the CL Lenders (ratably in accordance with their respective CL
Percentages) their Credit-Linked Deposits (to the extent not theretofore applied pursuant to
Sections 2A.04(c) or 2B.04(c)) in an amount (if any) by which the aggregate amount of
Credit-Linked Deposits at such time exceeds the greater of (x) the Total Credit-Linked Commitment
after giving effect to such reduction or termination and (y) the Aggregate CL Exposure at such
time. If at the time of any determination pursuant to the immediately preceding sentence the
amount determined pursuant to clause (y) of the preceding sentence exceeded the amount determined
pursuant to clause (x) of the preceding sentence, the Deposit Bank shall from time to time
thereafter, upon the direction of the Administrative Agent, return to the

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Administrative Agent who shall, in turn, return to the CL Lenders (ratably in accordance with their
CL Percentages) their Credit-Linked Deposits to the extent that the aggregate amount thereof from
time to time exceeds the greater of (x) the Total Credit-Linked Commitment after giving effect to
prior reductions thereto or terminations thereof and (y) the Aggregate CL Exposure at such time.

          (b) If at any time, and for any reason, any Issuing Bank or Bank Guaranty Issuer is required
to return to the respective Account Party (or any other Person) or otherwise disgorge amounts in
respect of payments previously received by it from (or on behalf of) any Account Party or other
Credit Party in respect of payments theretofore received by the respective Issuing Bank or Bank
Guaranty Issuer in respect of Drawings or Bank Guaranty Payments, as the case may be, previously
made, then the respective Issuing Bank or Bank Guaranty Issuer shall be entitled to treat the
amounts so returned or disgorged as not having been paid to it (by the respective Account Party or
other Credit Party) for purposes of this Agreement and shall be entitled to reimbursement as
provided in the relevant provisions of Sections 2A or 2B, as the case may be, and, without
limiting the foregoing, to the extent that Credit-Linked Deposits have previously been returned to
the CL Lenders (in accordance with the provisions of preceding clause (a) or otherwise), the
respective Issuing Bank or Bank Guaranty Issuer shall be entitled to be indemnified by the CL
Lenders for the amount so returned or disgorged (and the CL Lenders hereby agree to so indemnify
the respective Issuing Bank or Bank Guaranty Issuer); provided that no CL Lender shall be
obligated pursuant to this clause (b) to make payments, in the aggregate, of amounts in excess of
the amount of Credit-Linked Deposits actually returned to it.

          Section 3. Fees; Commitments.

          3.01 Fees. (a) The Borrowers jointly and severally agree to pay to the Administrative
Agent for distribution to each CL Lender (based on each such CL Lender’s CL Percentage) a fee (the
“CL Facility Fee”) equal to the sum of (I) a rate per annum equal to the Applicable Margin
for Tranche B Term Loans maintained as Eurodollar Loans on the Total Credit-Linked Commitment as
in effect from time to time (or, if terminated, on the aggregate amount of the Credit-Linked
Deposits from time to time) and (II) a rate per annum equal to the Credit-Linked Deposit Cost
Amount as in effect from time to time on the amount of the Total Credit-Linked Commitment as in
effect from time to time (or, if terminated, on the aggregate amount of the Credit-Linked Deposits
from time to time), in each case for the period from and including the Restatement Effective Date
to and including the date on which the Total Credit-Linked Commitment has been terminated, all
remaining Credit-Linked Deposits have been returned to the CL Lenders or applied to pay amounts
owing with respect to Letters of Credit and/or Bank Guaranties as more fully provided in Sections
2A and 2B hereof, all Unpaid Drawings and all Unreimbursed Payments (including, in each case, all
accrued and unpaid interest thereon) have been paid in full and all Letters of Credit and all Bank
Guaranties have been terminated. Accrued CL Facility Fees shall be due and payable quarterly in
arrears on each CL Interest Payment Date and on the first date upon which the Total Credit-Linked
Commitment has been terminated, all remaining Credit-Linked Deposits have been returned to the CL
Lenders or applied to pay amounts owing with respect to Letters of Credit and/or Bank Guaranties
as more fully provided in Sections 2A and 2B hereof, all Unpaid Drawings and all Unreimbursed
Payments (including, in each case, all accrued and unpaid interest thereon) have been paid in full
and all Letters of Credit and all Bank Guaranties have been terminated.

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          (b) Each Account Party agrees to pay to the respective Issuing Lender, for its own account, in
Dollars, a facing fee in respect of each Letter of Credit issued for its account hereunder (the
“Facing Fee”) for the period from and including the date of issuance or renewal of such
Letter of Credit to and including the termination or expiration of such Letter of Credit, computed
at a rate equal to 1/8 of 1% per annum of the daily Stated Amount of such Letter of Credit;
provided that in no event shall the annual Facing Fee with respect to any Letter of Credit
be less than the Minimum Applicable Facing Fee; it being agreed that (i) on the date of
issuance of any Letter of Credit and on each anniversary thereof prior to the termination of such
Letter of Credit, if the Minimum Applicable Facing Fee will exceed the amount of Facing Fees that
will accrue with respect to such Letter of Credit for the immediately succeeding 12-month period,
the full Minimum Applicable Facing Fee shall be payable on the date of issuance of such Letter of
Credit and on each such anniversary thereof prior to the termination of such Letter of Credit and
(ii) if on the date of the termination of any Letter of Credit, the Minimum Applicable Facing Fee
actually exceeds the amount of Facing Fees paid or payable with respect to such Letter of Credit
for the period beginning on the date of the issuance thereof (or, if the respective Letter of
Credit has been outstanding for more than one year, the date of the last anniversary of the
issuance thereof occurring prior to the termination of such Letter of Credit) and ending on the
date of the termination thereof, an amount equal to such excess shall be paid as additional Facing
Fees with respect to such Letter of Credit on the next date upon which Facing Fees are payable in
accordance with the immediately succeeding sentence. Except as provided in the immediately
preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each CL
Interest Payment Date and upon the first day on or after the termination of the Total Credit-
Linked Commitment upon which no Letters of Credit remain outstanding. Notwithstanding anything to
the contrary contained in this Agreement, to the extent that any Account Party has paid advance
facing fees to any Issuing Lender with respect to any Existing Letter of Credit pursuant to the
Original Credit Agreement, there shall be credited against the Facing Fees due to such Issuing
Lender under this Agreement the amount of such advance facing fees which related to periods after
the Restatement Effective Date.

          (c) The respective Account Party agrees to pay to the respective Issuing Lender, in Dollars,
for its own account, upon each payment under, issuance of, or amendment to, any Letter of Credit,
such amount as shall at the time of such event be the administrative charge which such Issuing
Lender is customarily charging for issuances of, payments under or amendments of, Letters of Credit
issued by it.

          (d) Each Account Party agrees to pay to the respective Bank Guaranty Issuer, for its own
account, in Dollars, a fronting fee in respect of each Bank Guaranty issued to it hereunder (the
“Fronting Fee”) for the period from and including the date of issuance or renewal of such
Bank Guaranty to and including the termination or expiration of such Bank Guaranty, computed at a
rate equal to 1/8 of 1% per annum of the daily Face Amount of such Bank Guaranty, provided
that in no event shall the annual Fronting Fee with respect to any Bank Guaranty be less
than the Minimum Applicable Fronting Fee; it being agreed that (i) on the date of issuance of any
Bank Guaranty and on each anniversary thereof prior to the termination of such Bank Guaranty, if
the Minimum Applicable Fronting Fee will exceed the amount of Fronting Fees that will accrue with
respect to such Bank Guaranty for the immediately succeeding 12-month period, the full Minimum
Applicable Fronting Fee shall be payable on the date of issuance of such Bank Guaranty and on each
such anniversary thereof prior to the

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termination of such Bank Guaranty and (ii) if on the date of the termination of any Bank Guaranty,
the Minimum Applicable Fronting Fee actually exceeds the amount of Fronting Fees paid or payable
with respect to such Bank Guaranty for the period beginning on the date of the issuance thereof
(or, if the respective Bank Guaranty has been outstanding for more than one year, the date of the
last anniversary of the issuance thereof occurring prior to the termination of such Bank Guaranty)
and ending on the date of the termination thereof, an amount equal to such excess shall be paid as
additional Fronting Fees with respect to such Bank Guaranty on the next date upon which Fronting
Fees are payable in accordance with the immediately succeeding sentence. Except as provided in the
immediately preceding sentence, accrued Fronting Fees shall be due and payable, quarterly in
arrears on each CL Interest Payment Date and upon the first day on or after the termination of the
Total Credit-Linked Commitment upon which no Bank Guaranties remain outstanding. Notwithstanding
anything to the contrary contained in this Agreement, to the extent that any Account Party has paid
advance fronting fees to any Bank Guaranty Issuer with respect to any Existing Bank Guaranty
pursuant to the Original Credit Agreement, there shall be credited against the Fronting Fees due to
such Bank Guaranty Issuer under this Agreement the amount of such advance fronting fees which
related to periods after the Restatement Effective Date.

          (e) The respective Account Party agrees to pay to the respective Bank Guaranty Issuer, in
Dollars, for its own account, upon each payment under, issuance of, or amendment to, any Bank
Guaranty, such amount as shall at the time of such event be the administrative charge which such
Bank Guaranty Issuer is customarily charging for issuances of, payments under or amendments of,
Bank Guaranties issued by it.

          (f) The Borrowers shall pay to the Administrative Agent for distribution to each Incremental
Term Loan Lender such fees and other amounts, if any, as are specified in the relevant Incremental
Term Loan Commitment Agreement, with the fees and other amounts, if any, to be payable on the
respective Incremental Term Loan Commitment Date.

          (g) Each Borrower agrees to pay to each Agent, for its own account, such other fees as have
been agreed to in writing by such Borrower and the Agents.

          (h) At the time of the consummation of a Repricing Transaction that is consummated prior to
the first anniversary of the Restatement Effective Date, the respective Borrower agrees to pay to
the Administrative Agent, for the ratable account of each Lender with outstanding Term Loans and/or
Credit-Linked Deposits of any Tranche subject to such Repricing Transaction (including each Lender
that withholds its consent to such Repricing Transaction and is replaced or is removed as a Lender
under Section 1.13 or 4.01(vi), as the case may be), a fee equal to 1.0% of (x) in the case of a
Repricing Transaction of the type described in clause (1) of the definition thereof, the aggregate
principal amount of all Term Loans and/or Credit-Linked Deposits, as the case may be, prepaid (or
converted) in connection with such Repricing Transaction and (y) in the case of a Repricing
Transaction of the type described in clause (2) of the definition thereof, the aggregate principal
amount of all Term Loans and/or Credit-Linked Deposits, as the case may be, outstanding on such
date that are subject to an effective pricing reduction pursuant to such Repricing Transaction. The
fees described above in this Section 3.01(h) shall be due and payable upon the date of the
effectiveness of such Repricing Transaction.

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          (i) All computations of Fees shall be made in accordance with Section 13.07(b).

          3.02 Voluntary Termination or Reduction of Commitments and Adjustments of Commitments.
(a) Upon at least three Business Days’ prior notice from an Authorized Officer of Holdings to the
Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly
transmit to each of the Incremental Term Loan Lenders), Holdings and/or the applicable Incremental
Term Loan Borrower shall have the right, at any time and from time to time, without premium or
penalty, to terminate the Total Incremental Term Loan Commitment at such time, in whole or in part,
in aggregate minimum amounts of at least $1,000,000 in the case of partial reductions, with the
amount of each reduction pursuant to this Section 3.02(a) to apply proportionately and permanently
reduce the Incremental Term Loan Commitments of each Lender with such a Commitment. Each reduction
to the Total Incremental Term Loan Commitment pursuant to this Section 3.02(a) shall be applied to
reduce the then remaining Incremental Term Loan Scheduled Repayments of the respective Tranche of
Incremental Term Loans on a pro rata basis (based upon the then remaining principal
amount of the Incremental Term Loan Scheduled Repayments of such Tranche after giving effect to all
prior reductions thereto).

          (b) Upon at least three Business Days’ prior written notice to the
Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly
transmit to each of the CL Lenders), the U.S. Borrower shall have the right, at any time and from
time to time, without premium or penalty, to terminate the Total Unutilized Credit- Linked
Commitment in whole, or reduce it in part in aggregate minimum amounts of $1,000,000,
provided that no such reduction shall be permitted to be made pursuant to this Section
3.02(b) if the effect thereof is to cause the Aggregate CL Exposure to exceed the Total
Credit-Linked Commitment after giving effect to the reduction thereto pursuant to this Section
3.02(b). Each reduction to the Total Credit-Linked Commitment pursuant to this Section 3.02(b)
shall apply to proportionately and permanently reduce the Credit-Linked Commitment of each CL
Lender (based on their respective CL Percentages). At the time of any termination or reduction of
the Total Credit-Linked Commitment pursuant to this Section 3.02(b), the Administrative Agent shall
request the Deposit Bank to (and the Deposit Bank agrees that it will) withdraw from the
Credit-Linked Deposit Account and to pay same over to the Administrative Agent, and the
Administrative Agent shall return to the CL Lenders (ratably in accordance with their respective CL
Percentages) their Credit-Linked Deposits in an amount by which the aggregate amount of the
Credit-Linked Deposits at such time exceeds the Total Credit-Linked Commitment as in effect
immediately after giving effect to such termination. Each termination of all or any portion of the
Total Unutilized Credit-Linked Commitment pursuant to this Section 3.02(b) made prior to the first
anniversary of the Restatement Effective Date in connection with a Repricing Transaction shall be
subject to the payment of the fee described in Section 3.01(h).

          (c) In the event of certain refusals by a Lender as provided in Section 4.01 or 13.12(b) to
consent to certain proposed changes, waivers, discharges or terminations with respect to this
Agreement which have been approved by the Required Lenders, Holdings may, subject to the applicable
requirements of said Sections 4.01 and/or 13.12(b), upon five Business Days’ prior written notice
to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall
promptly transmit to each of the Lenders) terminate the Incremental

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Term Loan Commitments, if any, and/or the Credit-Linked Commitment, if any, of such Lender, so
long as (x) all Loans, Unpaid Drawings and Unreimbursed Payments (to the extent that such Lender’s
Credit-Linked Commitment is being terminated), together with accrued and unpaid interest, Fees and
all other amounts, owing to such Lender (excluding amounts owing in respect of Loans of any
Tranche maintained by such Lender which are not being repaid pursuant to Section 13.12(b)) are
repaid concurrently with the effectiveness of such termination (at which time Schedule I shall be
deemed modified to reflect such changed amounts) and (y) after giving effect to such termination
(and the adjustments to the CL Percentages of the remaining Lenders as contemplated below), the
Individual CL Exposure of any remaining CL Lender shall not exceed its Credit-Linked Commitment.
After giving effect to the termination of the Commitments of any Lender pursuant to the provisions
of this Section 3.02(c), unless the respective Lender continues to have outstanding Term Loans or
other Commitments (if any) hereunder, such Lender shall no longer constitute a “Lender”
for purposes of this Agreement, except with respect to indemnifications under this Agreement
(including, without limitation, Sections 1.10, 1.11, 2A.06, 2B.06, 4.04, 13.01 and 13.06), which
shall survive as to such repaid Lender. In cases where the Credit-Linked Commitments of any Lender
are terminated pursuant to this Section 3.02(c), except in cases where the respective
Credit-Linked Commitments are replaced in full, after giving effect to the termination of any such
Credit-Linked Commitments of a given Lender pursuant to this Section 3.02(c), there shall occur
automatic adjustments (as determined by the Administrative Agent) in the respective CL Percentages
of the remaining CL Lenders in accordance with the definition of CL Percentage contained herein.
At the time of any termination of a CL Lender’s Credit-Linked Commitment pursuant to this Section
3.02(c), the Administrative Agent shall request the Deposit Bank to (and the Deposit Bank agrees
that it will) withdraw from the Credit-Linked Deposit Account and to pay same over to the
Administrative Agent, and the Administrative Agent shall return to such CL Lender its
Credit-Linked Deposit; provided that if, and to the extent, the respective CL Lender is
replaced by way of assignment, then its Credit-Linked Deposit shall remain in the Credit-Linked
Deposit Account and the respective assignee shall pay the assigning CL Lender an amount equal to
the Credit-Linked Deposit so assigned. Each reduction to the Total Incremental Term Loan
Commitment pursuant to this Section 3.02(c) shall be applied to reduce the then remaining
Incremental Term Loan Scheduled Repayments of the respective Tranche of Incremental Term Loans on
a pro rata basis (based upon the then remaining principal amount of the
Incremental Term Loan Scheduled Repayments of such Tranche after giving effect to all prior
reductions thereto).

          (d) In connection with any reduction or termination of the Total Incremental Term Loan
Commitment and/or the Total Credit-Linked Commitment of any Lender pursuant to this Section 3.02
and Section 3.03, as the case may be, each of the U.S. Borrower and the Bermuda Borrower hereby
irrevocably authorizes Holdings to take all necessary action, in the name of the U.S. Borrower or
the Bermuda Borrower, as the case may be, as described in this Section 3.02 or Section 3.03, as the
case may be, in order to effect the reduction or termination of the Total Incremental Term Loan
Commitment and/or the Total Credit-Linked Commitment of such Lender in accordance with the
provisions of this Section 3.02 or Section 3.03, as the case may be.

          3.03 Mandatory Reduction of Commitments. (a) The Total Commitment (and the Tranche B
Term Loan Commitment, the Tranche C Term Loan Commitment and the Credit-

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Linked Commitment of each Lender with such a Commitment) shall terminate in its entirety on April
12, 2006, unless the Restatement Effective Date has occurred on or before such date.

          (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Tranche B Term Loan Commitment (and the Tranche B Term Loan Commitment of each Lender
with such a Commitment) shall terminate in its entirety on the Restatement Effective Date (after
giving effect to the making of Tranche B Term Loans on such date).

          (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Tranche C Term Loan Commitment (and the Tranche C Term Loan Commitment of each Lender
with such a Commitment) shall terminate in its entirety on the Restatement Effective Date (after
giving effect to the making of Tranche C Term Loans on such date).

          (d) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Credit-Linked Commitment shall be reduced on the dates, and in the amounts provided in
Sections 2A.04(c) and 2B.04(c). At the time of any termination or reduction of the Total
Credit-Linked Commitment pursuant to Section 2A.04(c), Section 2B.04(c), this Section 3.03 or
Section 10, the actions required by Section 2C.04(a) shall be taken. Each reduction to, or
termination of, the Total Credit-Linked Commitment shall be applied to proportionately reduce or
terminate, as the case may be, the Credit-Linked Commitment of each CL Lender (in accordance with
their respective CL Percentages).

          (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Incremental Term Loan Commitment under a given Tranche shall (i) be permanently reduced
on each Incremental Term Loan Borrowing Date in respect of such Tranche in an amount equal to the
aggregate principal amount of Incremental Term Loans of such Tranche incurred on each such date,
(ii) terminate in its entirety (to the extent not theretofore terminated) on the Incremental Term
Loan Commitment Termination Date for such Tranche of Incremental Term Loans (after giving effect to
any Incremental Term Loans of such Tranche to be made on such date) and (iii) prior to the
termination of the Total Incremental Term Loan Commitment in respect of such Tranche, be
permanently reduced from time to time to the extent required by Section 4.02.

          (f) Each reduction to the Total Tranche B Term Loan Commitment, the Total Tranche C Term Loan
Commitment, the Total Credit-Linked Commitment and the Total Incremental Term Loan Commitment under
a given Tranche pursuant to this Section 3.03 as provided above (or pursuant to Section 4.02) shall
be applied proportionately to reduce the Tranche B Term Loan Commitment, the Tranche C Term Loan
Commitment, the Total Credit- Linked Commitment or the Incremental Term Loan Commitment under such
Tranche, as the case may be, of each Lender with such a Commitment.

          (g) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on
the Restatement Effective Date (and concurrently with the occurrence thereof) the Total
Multicurrency Facility Revolving Loan Commitment (as defined in the Original Credit Agreement), the
Multicurrency Facility Revolving Loan Commitment (as

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defined in the Original Credit Agreement) of each Original Lender, the Total Dollar Facility
Revolving Loan Commitment (as defined in the Original Credit Agreement) and the Dollar Facility
Revolving Loan Commitment (as defined in the Original Credit Agreement) of each Original Lender,
shall all be terminated in their entirety.

          Section 4. Prepayments; Repayments; Taxes.

          4.01 Voluntary Prepayments. Each Borrower shall have the right to prepay the Loans
made to such Borrower, without premium or penalty except as otherwise provided in this Agreement,
and the right to allocate such prepayments to Loans of a given Tranche, as such Borrower elects,
in whole or in part, at any time and from time to time on the following terms and conditions:

     (i) an Authorized Officer of such Borrower shall give the Administrative Agent at its
Notice Office written notice (or telephonic notice promptly confirmed in writing) of its
intent to prepay the Loans, specifying the Tranche or Tranches of the Loans to be prepaid,
the Types of Loans to be repaid and, in the case of Eurodollar Loans, the specific Borrowing
or Borrowings pursuant to which made, which notice shall be given by the Authorized Officer
of such Borrower (x) prior to 2:00 P.M. (New York time) at least one Business Day prior to
the date of such prepayment in the case of Loans maintained as Base Rate Loans and (y) prior
to 10:00 A.M. (New York time) at least three Business Days prior to the date of such
prepayment in the case of Eurodollar Loans, which notice shall be promptly transmitted by
the Administrative Agent to each of the Lenders;

     (ii) each partial prepayment applied to any Tranche of Loans shall be in an aggregate
principal amount of at least $1,000,000, provided that if any partial prepayment of
Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding Eurodollar
Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing
Amount applicable thereto, then such Borrowing may not be continued as a Borrowing of
Eurodollar Loans beyond the Interest Period applicable thereto and any election of an
Interest Period with respect thereto given by such Borrower shall have no force or effect;

     (iii) at the time of any prepayment of Eurodollar Loans pursuant to this Section 4.01
on any date other than the last day of the Interest Period applicable thereto, such Borrower
shall pay the amounts required pursuant to Section 1.11 (a);

     (iv) except as provided in Section 4.01(v) below, each prepayment in respect of any
Loans made pursuant to a Borrowing shall be applied pro rata among such
Loans made pursuant to such Borrowing;

     (v) each prepayment of principal of Loans of a given Tranche pursuant to this Section
4.01 shall, subject to the immediately succeeding proviso, be applied to reduce the then
remaining Scheduled Repayments of the respective Tranche of Term Loans on a pro
rata basis (based upon the then remaining principal amounts of the Scheduled
Repayments of such Tranche of Loans after giving effect to all prior reductions thereto);

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provided that repayments of any Tranche of Loans pursuant to Section 4.01(vi) below
shall only apply to reduce the then remaining Scheduled Repayments of such Tranche to the
extent the Term Loans so repaid are not replaced (and are not required to be replaced)
pursuant to Section 13.12(b), with any such application to reduce the then remaining
Scheduled Repayments of the respective Tranche in the manner provided above in this Section
4.01(v), unless otherwise specifically agreed by the Required Lenders;

     (vi) in the event of certain refusals by a Lender as provided in Section 13.12(b) to
consent to certain proposed changes, waivers, discharges or terminations with respect to
this Agreement which have been approved by the Required Lenders, such Borrower may, upon
five Business Days’ written notice by an Authorized Officer of such Borrower to the
Administrative Agent at its Notice Office (which notice the Administrative Agent shall
promptly transmit to each of the Lenders), repay all Loans and pay all accrued and unpaid
interest, Fees, and other amounts, in each case owing by such Borrower to such Lender (or
owing by such Borrower to such Lender with respect to each Tranche which gave rise to the
need to obtain such Lender’s individual consent) in accordance with, and subject to the
requirements of, said Section 13.12(b) so long as (A) in the case of the repayment of
Incremental Term Loans of any Lender under a given Tranche, the Incremental Term Loan
Commitment of such Lender under such Tranche (if any) is terminated concurrently with such
repayment pursuant to Section 3.02(c) (at which time Schedule I shall be deemed modified to
reflect the changed Incremental Term Loan Commitments of such Tranche) and (B) the consents
required by Section 13.12(b) in connection with the repayment pursuant to this clause (vi)
have been obtained;

     (vii) in the case of any prepayment of Tranche C Term Loans or Bermuda Borrower
Incremental Term Loans by the Bermuda Borrower with the proceeds of an Investment in the
Bermuda Partnership and the prepayment by the Bermuda Partnership of an intercompany loan to
the Bermuda Borrower as contemplated by Section 9.05(xviii) at any time Tranche B Term Loans
or U.S. Borrower Incremental Term Loans are outstanding, such prepayment shall be
accompanied by a prepayment of Tranche B Term Loans or U.S. Borrower Incremental Term Loans
by the U.S. Borrower in such amount so that the voluntary prepayments of Term Loans at such
time is made on a pro rata basis (based upon the TL Repayment Percentages of
each such Tranche of Term Loans and the then outstanding principal amounts of each such
Tranche of Term Loans); and

     (viii) each prepayment of Loans of any Tranche pursuant to this Section 4.01 made prior
to the first anniversary of the Restatement Effective Date in connection with a Repricing
Transaction shall be subject to the payment of the fee described in Section 3.01(h).

          4.02 Mandatory Repayments and Commitment Reductions. (a) If on any date the aggregate
amount of all Letter of Credit Outstandings and Bank Guaranty Outstandings exceeds the Total
Credit-Linked Commitment as then in effect, the U.S. Borrower or the Bermuda Borrower (as
determined by the U.S. Borrower) (subject to clause (x) of the proviso to this clause (a)) agrees
to pay to the Administrative Agent at the Payment Office on such date an amount of cash and/or
Cash Equivalents in Dollars equal to such excess, such cash or Cash Equivalents to be held as
security for all Obligations of the respective Borrower (including,

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without limitation, in the case of the U.S. Borrower pursuant to the Credit Agreement Party
Guaranty) to the Issuing Lenders, Bank Guaranty Issuers and Lenders relating to Letters of Credit
and Bank Guaranties (and reimbursement and other Obligations relating thereto) hereunder in a cash
collateral account to be established by, and under the sole dominion and control of, the
Administrative Agent; provided that (x) the aggregate amount of cash and/or Cash
Equivalents paid by the Bermuda Borrower to the Administrative Agent under this clause (a) shall
not at any time exceed the sum of the Letter of Credit Outstandings (with respect to Bermuda
Borrower Letters of Credit) and the Bank Guaranty Outstandings (with respect to Bermuda Borrower
Bank Guaranties) at such time and (y) any such cash and/or Cash Equivalents shall first be applied
to repay any amounts owing to the respective Issuing Lender and Bank Guaranty Issuer as described
in Section 2C.03 hereof.

     (b) (i) In addition to any other mandatory repayments or commitment reductions pursuant
to this Section 4.02, on each date set forth below, the U.S. Borrower shall be required to
repay that principal amount of Tranche B Term Loans, to the extent then outstanding, as is
set forth opposite such date (each such repayment, as the same may be reduced as provided in
Sections 4.01 and 4.02(g), a “Tranche B Term Loan Scheduled Repayment”):

	 	 	 	 	 
	Tranche B Scheduled Repayment Date	 	Amount
	Last Business Day of June, 2006

	 	$	562,500	 
	Last Business Day of September, 2006

	 	$	562,500	 
	Last Business Day of December, 2006

	 	$	562,500	 
	Last Business Day of March, 2007

	 	$	562,500	 
	Last Business Day of June, 2007

	 	$	562,500	 
	Last Business Day of September, 2007

	 	$	562,500	 
	Last Business Day of December, 2007

	 	$	562,500	 
	Last Business Day of March, 2008

	 	$	562,500	 
	Last Business Day of June, 2008

	 	$	562,500	 
	Last Business Day of September, 2008

	 	$	562,500	 
	Last Business Day of December, 2008

	 	$	562,500	 
	Last Business Day of March, 2009

	 	$	562,500	 
	Last Business Day of June, 2009

	 	$	562,500	 
	Last Business Day of September, 2009

	 	$	562,500	 

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	Tranche B Scheduled Repayment Date	 	Amount
	Last Business Day of December, 2009

	 	$	562,500	 
	Last Business Day of March, 2010

	 	$	562,500	 
	Last Business Day of June, 2010

	 	$	562,500	 
	Last Business Day of September, 2010

	 	$	562,500	 
	Last Business Day of December, 2010

	 	$	562,500	 
	Last Business Day of March, 2011

	 	$	562,500	 
	Last Business Day of June, 2011

	 	$	562,500	 
	Last Business Day of September, 2011

	 	$	562,500	 
	Last Business Day of December, 2011

	 	$	562,500	 
	Last Business Day of March, 2012

	 	$	562,500	 
	Last Business Day of June, 2012

	 	$	562,500	 
	Last Business Day of September, 2012

	 	$	562,500	 
	Last Business Day of December, 2012

	 	$	562,500	 
	Tranche B/C Term Loan Maturity Date

	 	$	209,812,500	 

     (ii) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date set forth below, the Bermuda Borrower shall be required to repay that
principal amount of Tranche C Term Loans, to the extent then outstanding, as is set forth opposite
such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and
4.02(g), a “Tranche C Term Loan Scheduled Repayment”):

	 	 	 	 	 
	Tranche C Scheduled Repayment Date	 	Amount
	Last Business Day of June, 2006

	 	$	1,875,000	 
	Last Business Day of September, 2006

	 	$	1,875,000	 
	Last Business Day of December, 2006

	 	$	1,875,000	 
	Last Business Day of March, 2007

	 	$	1,875,000	 
	Last Business Day of June, 2007

	 	$	1,875,000	 

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	Tranche C Scheduled Repayment Date	 	Amount
	Last Business Day of September, 2007

	 	$	1,875,000	 
	Last Business Day of December, 2007

	 	$	1,875,000	 
	Last Business Day of March, 2008

	 	$	1,875,000	 
	Last Business Day of June, 2008

	 	$	1,875,000	 
	Last Business Day of September, 2008

	 	$	1,875,000	 
	Last Business Day of December, 2008

	 	$	1,875,000	 
	Last Business Day of March, 2009

	 	$	1,875,000	 
	Last Business Day of June, 2009

	 	$	1,875,000	 
	Last Business Day of September, 2009

	 	$	1,875,000	 
	Last Business Day of December, 2009

	 	$	1,875,000	 
	Last Business Day of March, 2010

	 	$	1,875,000	 
	Last Business Day of June, 2010

	 	$	1,875,000	 
	Last Business Day of September, 2010

	 	$	1,875,000	 
	Last Business Day of December, 2010

	 	$	1,875,000	 
	Last Business Day of March, 2011

	 	$	1,875,000	 
	Last Business Day of June, 2011

	 	$	1,875,000	 
	Last Business Day of September, 2011

	 	$	1,875,000	 
	Last Business Day of December, 2011

	 	$	1,875,000	 
	Last Business Day of March, 2012

	 	$	1,875,000	 
	Last Business Day of June, 2012

	 	$	1,875,000	 
	Last Business Day of September, 2012

	 	$	1,875,000	 
	Last Business Day of December, 2012

	 	$	1,875,000	 
	Tranche B/C Term Loan Maturity Date

	 	$	699,375,000	 

     (iii) In addition to any other mandatory repayments or commitment reductions pursuant to
this Section 4.02, each Incremental Term Loan Borrower shall be required to

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make, with respect to each Tranche of Incremental Term Loans of such Incremental Term Loan
Borrower, to the extent then outstanding, scheduled amortization payments of such Tranche of
Incremental Term Loans on the dates and in the principal amounts set forth in the respective
Incremental Term Loan Commitment Agreement (each such repayment, as the same may be reduced
as provided in Sections 3.02, 4.01 and 4.02(g), an “Incremental Term Loan Scheduled
Repayment”); provided that, if any Incremental Term Loans are incurred which will
be added to (and form part of) an existing Tranche of Term Loans, the amount of the then
remaining Scheduled Repayments of the respective Tranche shall be proportionally increased
(with the aggregate amount of increases to the then remaining Loan Scheduled Repayments to
equal the aggregate principal amount of such new Incremental Term Loans then being incurred)
in accordance with the requirements of clause (ii) of Section 1.15(c).

          (c) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date on or after the Restatement Effective Date upon which Holdings or any of
the its Subsidiaries receives Net Sale Proceeds from any Asset Sale (other than the California
Disposition, to the extent the Net Sale Proceeds therefrom received by a Subsidiary of the U.S.
Borrower (exclusive of any portion thereof which is distributed to a minority shareholder of such
Subsidiary in accordance with the requirements of Section 9.06) are promptly on-loaned to an
Affiliate of the U.S. Borrower in accordance with the requirements of Section 9.05 and 9.07), an
amount equal to 100% of the Net Sale Proceeds from such Asset Sale shall be applied as a mandatory
repayment and/or commitment reduction in accordance with the requirements of Sections 4.02(g) and
(h); provided that (I) Net Sale Proceeds from any Asset Sale (other than (x) Net Sale
Proceeds from any Contemplated Asset Sale consummated in accordance with the requirements of
Section 9.02(xviii), (y) any Net Sale Proceeds from the sale of any Principal Property pursuant to
Section 9.02(xix) and (z) Net Sale Proceeds from the sale or other disposition of the Equity
Interests of the Unrestricted Wellbeing Joint Venture pledged pursuant to the U.S. Pledge
Agreement) shall not give rise to a mandatory repayment and/or commitment reduction on such date as
otherwise required above, so long as no Specified Default and no Event of Default exists at the
time such Net Sale Proceeds are received and an Authorized Officer of Holdings or the U.S. Borrower
has delivered a certificate to the Administrative Agent on or prior to such date stating that such
Net Sale Proceeds shall be used (or contractually committed to be used) to purchase capital assets
used or to be used in a Permitted Business (other than inventory) within 360 days following the
date of receipt of such Net Sale Proceeds from such Asset Sale (which certificate shall set forth
(in reasonable detail) the estimates of the proceeds to be so expended) and (II) Net Sale Proceeds
from one (but not more than one) sale of a Principal Property consummated after the Restatement
Effective Date in reliance on Section 9.02(xix) and notified in writing to the Administrative Agent
shall not give rise to a mandatory repayment and/or commitment reduction on such date as otherwise
required above, so long as no Specified Default and no Event of Default exists at the time such Net
Sale Proceeds are received and an Authorized Officer of Holdings or the U.S. Borrower has delivered
a certificate to the Administrative Agent on or prior to such date stating that such Net Sale
Proceeds shall be used (or contractually committed to be used) to purchase, construct and/or make
investments in a new Principal Property (or assets and properties that upon completion of such
purchase, construction and/or investments will become a Principal Property) within 360 days
following the date of receipt of such Net Sale Proceeds from such sale of such Principal Property
(which certificate shall set forth the estimates of the proceeds to be so expended);
provided, however, that (I) if all

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then exists, such proceeds shall not be required to be so applied on such date to the extent that
an Authorized Officer of Holdings or the U.S. Borrower has delivered a certificate to the
Administrative Agent on or prior to such date stating that such proceeds shall be used (or
contractually committed to be used) within 360 days following the date of receipt of such proceeds
from such Recovery Event to replace or restore any properties or assets in respect of which such
proceeds were paid (which certificate shall set forth the estimates of the proceeds to be so
expended), and provided, further, that (I) if all or any portion of such proceeds
are not so used (or contractually committed to be used) within such 360-day period, such remaining
portion shall be applied as a mandatory repayment and/or commitment reduction as provided above
(without giving effect to the immediately preceding proviso) and (II) if all or any portion of such
proceeds are not required to be applied on the last day of such 360-day period referred to in
clause (I) of this proviso because such amount is contractually committed to be used and then
either (A) subsequent to such date such contract is terminated or expires without such portion
being so used or (B) such contractually committed portion is not so used within six months after
the last day of such 360-day period referred to in clause (I) of this proviso, such remaining
portion, in the case of either of the preceding clauses (A) or (B), shall be applied as a mandatory
repayment and/or commitment reduction as provided above (without giving effect to the immediately
preceding proviso).

          (f) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each Excess Cash Payment Date, an amount equal to the remainder (if positive) of
(x) the Applicable Prepayment Percentage of the Excess Cash Flow for the relevant Excess Cash Flow
Payment Period minus (y) the aggregate amount of principal repayments of Loans (and
Original Loans to the extent (and only to the extent) that such repayments were made as a voluntary
prepayment pursuant to Section 4.01 hereof (or the Original Credit Agreement, as applicable) with
internally generated funds during the relevant Excess Cash Flow Payment Period, shall be applied
as a mandatory repayment and/or commitment reduction in accordance with the requirements of
Sections 4.02(g) and (h).

          (g) (I) Each amount required to be applied pursuant to Sections 4.02(c), (d), (e), and (f) in
accordance with this Section 4.02(g) shall be applied, subject to immediately succeeding clause
(IV), (i) first, to repay the outstanding principal amount of Term Loans and (ii)
second, to the extent in excess of the amounts applied pursuant to preceding clause (i), as
a mandatory reduction to the Total Incremental Term Loan Commitment in effect at such time (if
any).

          (II) Each amount required to be applied to repay outstanding Term Loans pursuant to this
Section 4.02(g) shall, subject to succeeding clause (IV) and the immediately succeeding proviso,
be applied pro rata to each Tranche of Term Loans (based upon the TL Repayment
Percentages of the various Tranches of Term Loans and the then outstanding principal amounts of
the respective Tranches of Term Loans); provided that (i) the Net Sale Proceeds from any
Asset Sale effected by Holdings or any of its Domestic Subsidiaries and proceeds from any Recovery
Event with respect to the properties or assets of Holdings or any of its Domestic Subsidiaries
and, in each case, required to be applied to the repayment of Term Loans pursuant to clause (I) of
this Section 4.02(g), shall be applied (x) first, to repay principal of outstanding
Tranche B Term Loans and U.S. Borrower Incremental Term Loans, if any (on a pro
rata basis to each Tranche of U.S. Borrower Term Loans based on the TL Repayment

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or any portion of such Net Sale Proceeds are not so used within such 360-day period (or
contractually committed within such period to be used), such remaining portion shall be applied on
the last day of such period as a mandatory repayment as provided above (without giving effect to
the immediately preceding proviso) and (II) if all or any portion of such Net Sale Proceeds are
not required to be applied on the last day of such 360-day period referred to in clause (I) of
this proviso because such amount is contractually committed within such period to be used and then
either (A) subsequent to such date such contract is terminated or expires without such portion
being so used or (B) such contractually committed portion is not so used within six months after
the last day of such 360-day period referred to in clause (I) of this proviso, such remaining
portion, in the case of either of the preceding clauses (A) or (B), shall be applied as a
mandatory repayment as provided above (without giving effect to the immediately preceding
proviso). Notwithstanding anything to the contrary contained in this Section 4.02(c), (x) if any
Permitted Senior Notes Document (after the execution and delivery thereof), any Permitted
Refinancing Senior Notes Document (after the execution and delivery thereof), the Intermediate
Holdco Credit Documents or the Existing Senior Notes Documents permit a lesser amount to be
retained or reinvested, or have a shorter reinvestment period, than is provided above with respect
to any Asset Sales, then such lesser permitted retained or reinvestment amount, and/or shorter
reinvestment period, as the case may be, shall be applicable for purposes of this Section 4.02(c)
so long as such Permitted Senior Notes, Permitted Refinancing Senior Notes, Intermediate Holdco
Indebtedness or Existing Senior Notes, as the case may be, remain outstanding, and (y) in no event
shall Holdings or any of its Subsidiaries use any proceeds from any Asset Sale to make any
voluntary or mandatory repayment or prepayment of Permitted Senior Notes, Permitted Refinancing
Senior Notes, Intermediate Holdco Indebtedness or Existing Senior Notes and, before any such
obligation to use such proceeds to make such repayment shall arise, Holdings or the respective
Subsidiary shall reinvest the respective amounts as permitted above in this Section 4.02(c) or
apply such proceeds as a mandatory prepayment in accordance with requirements of Sections 4.02(g)
and (h).

          (d) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date on or after the Restatement Effective Date on which Holdings or any of
its Subsidiaries receives any cash proceeds from any incurrence of Indebtedness (other than
Indebtedness permitted to be incurred pursuant to Section 9.04 as in effect on the Restatement
Effective Date), an amount equal to 100% of the Net Cash Proceeds of the respective incurrence of
Indebtedness shall be applied as a mandatory repayment in accordance with the requirements of
Sections 4.02(g) and (h).

          (e) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, within 10 days following each date on or after the Restatement Effective Date on
which Holdings or any of its Subsidiaries receives any proceeds from any Recovery Event (other than
proceeds from Recovery Events in an amount less than $5,000,000 per Recovery Event), an
amount equal to 100% of the proceeds of such Recovery Event (net of reasonable costs (including,
without limitation, legal costs and expenses) and taxes incurred in connection with such Recovery
Event and the amount of such proceeds required to be used to repay any Indebtedness (other than
Indebtedness of the Lenders pursuant to this Agreement) which is secured by the respective assets
subject to such Recovery Event) shall be applied as a mandatory repayment and/or commitment
reduction in accordance with the requirements of Sections 4.02(g) and (h); provided that so
long as no Specified Default and no Event of Default

-55-

 

Percentages of such Tranches of U.S. Borrower Term Loans and the then outstanding principal amount
of the Tranche B Term Loans and each such Tranche of U.S. Borrower Incremental Term Loans (but, for
such purposes, as if no Bermuda Borrower Term Loans were then outstanding)) and (y) second,
after the repayment in full of all outstanding U.S. Borrower Term Loans, to repay principal of
outstanding Tranche C Term Loans and Bermuda Borrower Incremental Term Loans (on a pro
rata basis to each such Tranche of Term Loans, based upon the TL Repayment Percentages of
such Tranches of Term Loans and the then outstanding principal amounts of such Tranches of Term
Loans) and (ii) the Net Sale Proceeds from any Asset Sale effected by any Foreign Subsidiary of
Holdings and the proceeds from any Recovery Event with respect to the properties or assets of any
Foreign Subsidiary of Holdings and, in each case, required to be applied to the repayment of Term
Loans pursuant to clause (I) of this Section 4.02(g), shall be applied (x) first, to repay
principal of outstanding Tranche C Term Loans and Bermuda Borrower Incremental Term Loans (on a
pro rata basis to each such Tranche of Term Loans, based upon the TL Repayment
Percentages of such Tranches of Term Loans and the then outstanding principal amounts of such
Tranches of Term Loans (but, for such purposes, as if no U.S. Borrower Term Loans were then
outstanding)) and (y) second, after the repayment in full of all outstanding Bermuda
Borrower Term Loans, to repay principal of outstanding Tranche B Term Loans and U.S. Borrower
Incremental Term Loans, if any (on a pro rata basis to each Tranche of U.S.
Borrower Term Loans based on the TL Repayment Percentages of such Tranches of U.S. Borrower Term
Loans and the then outstanding principal amount of such Tranches of U.S. Borrower Term Loans).

          (III) All repayments or commitment reductions, as the case may be, of outstanding Term Loans
or Incremental Term Loan Commitments of a given Tranche, as the case may be, pursuant to Section
4.02(c), (d), (e) or (f) shall be applied to reduce the then remaining Scheduled Repayments of the
respective Tranche of Term Loans on a pro rata basis (based upon the then remaining
principal amounts of the Scheduled Repayments of such Tranche of Term Loans after giving effect to
all prior reductions thereto); provided that if Incremental Term Loan Commitments of a
given Tranche are not included as part of the Incremental Term Loan Scheduled Repayments for such
Tranche set forth in the respective Incremental Term Loan Commitment Agreement (e.g.,
because the Incremental Term Loan Scheduled Repayments are set forth on a percentage basis rather
in a Dollar amount), no such reduction to the respective Incremental Term Loan Scheduled Repayments
shall be required as a result of a reduction in the Incremental Term Loan Commitments of such
Tranche.

          (IV) Notwithstanding anything to the contrary in this Section 4.02, neither Holdings nor any
of its Subsidiaries shall be obligated to apply any Net Sale Proceeds pursuant to this Section
4.02(g) to the extent attributable to any Asset Sales of ABL Priority Collateral (including, in the
case of an Asset Sale consisting of the sale of all or substantially all of the capital stock or
equity interests in, any U.S. Credit Party, that portion of the proceeds determined in good faith
by Holdings to be attributable to the ABL Priority Collateral owned by such U.S. Credit Party at
the time of the consummation of such Asset Sale) to the extent that such Net Sale Proceeds are
required to be and are applied to the repayment of ABL Loans (or to the permanent reduction of any
commitment under the ABL Credit Agreement) in accordance with the terms of the ABL Credit
Agreement.

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          (h) With respect to each repayment of Loans required by this Section 4.02, the respective
Borrower may (subject to the requirements of preceding Section 4.02(g)) designate the Types of
Loans of the respective Tranche which are to be repaid and, in the case of Eurodollar Loans, the
specific Borrowing or Borrowings of the respective Tranche pursuant to which made, provided
that: (i) in the case of repayments of Eurodollar Loans pursuant to this Section 4.02 on any day
other than the last day of an Interest Period applicable thereto, such repayments shall be
accompanied by payment by the respective Borrower of all amounts owing in connection therewith
pursuant to Section 1.11 (a), (ii) if any repayment of Eurodollar Loans made pursuant to a single
Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an
amount less than the Minimum Borrowing Amount applicable to the Eurodollar Loans, such
Borrowing, shall be converted at the end of the then current Interest Period into a Borrowing of
Base Rate Loans, and (iii) each repayment of any Tranche of Loans made pursuant to a Borrowing
shall be applied pro rata among such Tranche of Loans. In the absence of a
designation by the respective Borrower as described in the preceding sentence, the Administrative
Agent shall, subject to the above, make such designation in its sole discretion with a view, but no
obligation, to minimize breakage costs owing under Section 1.11 (a).

          (i) Notwithstanding anything to the contrary contained elsewhere in this Agreement, (i) all
other then outstanding Loans shall be repaid in full on the respective Maturity Date for such Loans
and (ii) unless the Required Lenders shall otherwise agree in writing in their sole discretion, all
outstanding Loans shall be repaid in full upon the occurrence of a Change of Control.

          (j) For purposes of clarity, it is understood and agreed that none of Sections 4.02(c)
through (f), inclusive, shall require that amounts received by any Foreign Subsidiary or Foreign
Subsidiaries be used to repay Obligations owed by any U.S. Credit Parties, but that said Sections
merely determine the amounts required to be applied by the various Borrowers to the repayment of
their Obligations as more fully described in this Section 4.02.

          (k) In addition to the mandatory repayments required above, on the Restatement Effective Date
the Borrowers shall make all repayments required pursuant to Section 4.02(a) of the Original
Credit Agreement as a result of the termination of the Total Multicurrency Facility Revolving Loan
Commitment (as defined in the Original Credit Agreement) and the termination of the Total Dollar
Facility Revolving Loan Commitment (as defined in the Original Credit Agreement), as provided in
Section 3.03(g) hereof; provided that no cash collateralization shall be required with
respect to any Existing Letter of Credit or Existing Bank Guaranty, each as defined herein. Also
on the Restatement Effective Date, the Borrowers shall cause all Letters of Credit (other than
Existing Letters of Credit as defined herein) and Bank Guaranties (other than Existing Bank
Guaranties as defined herein) under, and as defined in, the Original Credit Agreement to be
terminated and returned to the respective Issuing Lender (as defined in the Original Credit
Agreement) or Bank Guaranty Issuer (as defined in the Original Credit Agreement). On the
Restatement Effective Date, the respective Borrowers shall also be obligated to pay to the
Original Lenders any breakage or other costs of the type referred to in Section 1.11 of the
Original Credit Agreement (if any) incurred in connection with the repayments required above.

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          (1) In addition to the mandatory repayments required above, on the Restatement Effective Date
the Borrower shall repay in full all outstanding Tranche A Term Loans under, and as defined in,
the Original Credit Agreement. On the Restatement Effective Date, the Bermuda Borrower shall also
be obligated to pay to the respective Original Lenders any breakage or other costs of the type
referred to in Section 1.11 of the Original Credit Agreement (if any) incurred in connection with
the repayments required above.

          4.03 Method and Place of Payment. Except as otherwise specifically provided herein, all
payments under this Agreement or any Note shall be made to the Administrative Agent for the account
of the Lender or Lenders entitled thereto not later than 2:00 P.M. (New York time) on the date when
due and shall be made in Dollars in immediately available funds at the Payment Office of the
Administrative Agent. The Administrative Agent will thereafter cause to be distributed on the same
day (if payment was actually received by the Administrative Agent prior to 2:00 P.M. (New York
time) like funds relating to payment of principal, interest or Fees ratably to the Lenders entitled
thereto. Any payments under this Agreement which are made later than 2:00 P.M. (New York time)
shall be deemed to have been made on the next succeeding Business Day. Whenever any payment to be
made hereunder or under any Note shall be stated to be due on a day which is not a Business Day,
the due date thereof shall be extended to the next succeeding Business Day and, with respect to
payments of principal, interest shall be payable at the applicable rate during such extension.

          4.04 Net Payments. (a) All payments made by any Credit Party under any Credit
Document (including, in the case of a Credit Agreement Party, in its capacity as a guarantor
pursuant to Section 14) or under any Note will be made without setoff, counterclaim or other
defense. Except as provided in Section 4.04(b), all such payments will be made free and clear of,
and without deduction or withholding for, any present or future taxes, levies, imposts, duties,
fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction
or by any political subdivision or taxing authority thereof or therein with respect to such
payments (but excluding, except as provided in the second succeeding sentence, any tax imposed on
or measured by the net income of a Lender pursuant to the laws of the jurisdiction in which it is
organized or the jurisdiction in which the principal office or applicable lending office of such
Lender is located or any subdivision thereof or therein) and all interest, penalties or similar
liabilities with respect thereto (all such non-excluded taxes, levies, imposts, duties, fees,
assessments or other charges being referred to collectively as “Taxes”). If any Taxes are
so levied or imposed, the respective Borrower (and any other Credit Party making the payment)
agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary so
that every payment of all amounts due under this Agreement or under any Note, after withholding or
deduction for or on account of any Taxes, will not be less than the amount provided for
herein or in such Note. If any amounts are payable in respect of Taxes pursuant to the preceding
sentence, then the respective Borrower (and any other Credit Party making the payment) shall be
obligated to reimburse each Lender, upon the written request of such Lender, for the net additional
taxes (after taking into account available credits with respect to such withholding taxes) imposed
on or measured by the net income of such Lender pursuant to the laws of the jurisdiction in which
such Lender is organized or in which the principal office or applicable lending office of such
Lender is located or under the laws of any political subdivision or taxing authority of any such
jurisdiction in which such Lender is organized or in which the principal office or applicable
lending office of such Lender is located and for any withholding of

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taxes as such Lender shall determine are payable by, or withheld from, such Lender in respect of
such amounts so paid to or on behalf of such Lender pursuant to the preceding sentence and in
respect of any amounts paid to or on behalf of such Lender pursuant to this sentence, the
respective Borrower (or Credit Party) will furnish to the Administrative Agent within 45 days after
the date of the payment of any Taxes due pursuant to applicable law certified copies of tax
receipts evidencing such payment by such Borrower (or the respective other Credit Party). The
Credit Agreement Parties jointly and severally agree (and each Subsidiary Guarantor pursuant to its
respective Subsidiary Guaranty, and the incorporation by reference therein of the provisions of
this Section 4.04, shall agree) to indemnify and hold harmless each Lender, and reimburse such
Lender upon its written request, for the amount of any Taxes so levied or imposed and paid by such
Lender.

          (b) Each Lender that is not a United States person (as such term is defined in Section
7701(a)(30) of the Code) agrees to deliver to the U.S. Borrower and the Administrative Agent on or
prior to the Restatement Effective Date, or in the case of a Lender that is an assignee or
transferee of an interest under this Agreement pursuant to Section 1.13 or 13.04 (unless the
respective Lender was already a Lender hereunder immediately prior to such assignment or
transfer), on the date of such assignment or transfer to such Lender, (i) two accurate and
complete original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (with
respect to a complete exemption under an income tax treaty) (or successor forms) certifying to
such Lender’s entitlement as of such date to a complete exemption from United States withholding
tax with respect to payments to be made under this Agreement and under any Note, or (ii) if the
Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code and cannot deliver
either Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption
under an income tax treaty) pursuant to clause (i) above, (x) a certificate substantially in the
form of Exhibit D (any such certificate, a “Section 4.04(b)(ii) Certificate”) and (y) two
accurate and complete original signed copies of Internal Revenue Service Form W-8BEN (with respect
to the portfolio interest exemption) (or successor form) certifying to such Lender’s entitlement
as of such date to a complete exemption from United States withholding tax with respect to
payments of interest to be made under this Agreement and under any Note. In addition, each Lender
agrees that from time to time after the Restatement Effective Date, when a lapse in time or change
in circumstances renders the previous certification obsolete or inaccurate in any material
respect, it will deliver to the U.S. Borrower and the Administrative Agent two new accurate and
complete original signed copies of Internal Revenue Service Form W-8ECI, Form W-8BEN (with respect
to the benefits of any income tax treaty), or Form W-8BEN (with respect to the portfolio interest
exemption) and a Section 4.04(b)(ii) Certificate, as the case may be, and such other forms as may
be required in order to confirm or establish the entitlement of such Lender to a continued
exemption from or reduction in United States withholding tax with respect to payments under this
Agreement and any Note, or it shall immediately notify the U.S. Borrower and the Administrative
Agent of its inability to deliver any such Form or Certificate, in which case such Lender shall
not be required to deliver any such Form or Certificate pursuant to this Section 4.04(b).
Notwithstanding anything to the contrary contained in Section 4.04(a), but subject to Section
13.04(b) and the immediately succeeding sentence, (x) the U.S. Borrower shall be entitled, to the
extent it is required to do so by law, to deduct or withhold income or similar taxes imposed by
the United States (or any political subdivision or taxing authority thereof or therein) from
interest, fees or other amounts payable by the U.S. Borrower hereunder for the account of any
Lender which is not a United

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States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income
tax purposes to the extent that such Lender has not provided to the U.S. Borrower U.S. Internal
Revenue Service Forms that establish a complete exemption from such deduction or withholding and
(y) the U.S. Borrower shall not be obligated pursuant to Section 4.04(a) hereof to gross-up
payments to be made to a Lender in respect of income or similar taxes imposed by the United States
if (I) such Lender has not provided to the U.S. Borrower the Internal Revenue Service Forms
required to be provided to the U.S. Borrower pursuant to this Section 4.04(b) or (II) in the case
of a payment, other than interest, to a Lender described in clause (ii) above, to the extent that
such forms do not establish a complete exemption from withholding of such taxes. Notwithstanding
anything to the contrary contained in the preceding sentence or elsewhere in this Section 4.04 and
except as set forth in Section 13.04(b), the U.S. Borrower agrees to pay additional amounts and to
indemnify each Lender in the manner set forth in Section 4.04(a) (without regard to the identity of
the jurisdiction requiring the deduction or withholding) in respect of any amounts deducted or
withheld by it as described in the immediately preceding sentence (x) as a result of any changes
after the Restatement Effective Date (or, if later, the date such Lender became party to this
Agreement) in any applicable law, treaty, governmental rule, regulation, guideline or order, or in
the interpretation thereof, relating to the deducting or withholding of income or similar taxes or
(y) as a result of the purchase of a participation as required by Section 1.14 following the
occurrence of a Sharing Event.

          Section 5. Conditions Precedent to Credit Events on the Restatement Effective Date.
The occurrence of the Restatement Effective Date and the obligation of each Lender to make Loans
hereunder (including by way of the conversion of Original Tranche B Term Loans on the Restatement
Effective Date as contemplated by Section 1.01(b)), the obligation of each CL Lender to fund its
Credit-Linked Deposit, the obligation of each Issuing Lender to issue Letters of Credit (including
any Existing Letters of Credit deemed issued on the Restatement Effective Date as contemplated by
Section 2A.01(d)), and the obligation of each Bank Guaranty Issuer to issue each Bank Guaranty
hereunder (including any Existing Bank Guaranties deemed issued on the Restatement Effective Date
as contemplated by Section 2B.01(d)), in each case on the Restatement Effective Date, is subject
at the time of the occurrence of the Restatement Effective Date to the satisfaction of the
following conditions:

          5.01 Execution of Agreement; Notes. On or prior to the Restatement Effective Date, (i)
this Agreement shall have been executed and delivered as provided in Section 13.10 and (ii) there
shall have been delivered to the Administrative Agent for the account of each Lender which has
requested the same the appropriate Tranche B Term Note and Tranche C Term Note, in each case
executed by the relevant Borrower and in the amount, maturity and as otherwise provided herein.

          5.02 Officer’s Certificate. On the Restatement Effective Date, the
Administrative Agent shall have received a certificate from the U.S. Borrower, dated such date and
signed by an Authorized Officer of the U.S. Borrower, certifying that all of the applicable
conditions set forth in Sections 5.05 through 5.09, inclusive, Section 5.13 and Section 6 (other
than such conditions that are expressly subject to the satisfaction of the Agents and/or the
Required Lenders), have been satisfied on such date.

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          5.03 Opinions of Counsel. On the Restatement Effective Date, the
Administrative Agent shall have received (i) from Paul, Hastings, Janofsky & Walker LLP, special
counsel to the Credit Parties, an opinion addressed to each Agent, the Collateral Agent and each of
the Lenders and dated the Restatement Effective Date substantially in the form of Exhibit E-l, (ii)
from Appleby, Spurling Hunter, special Bermuda counsel to the Credit Parties organized under the
laws of Bermuda, an opinion addressed to each Agent, the Collateral Agent and each of the Lenders
and dated the Restatement Effective Date substantially in the form of Exhibit E-2, and (iii) if
requested by the Agents from foreign counsel to the Credit Parties and/or the Agents in each
Qualified Non-U.S. Jurisdiction and the Philippines, in each case reasonably satisfactory to the
Agents, opinions which shall (x) be addressed to each Agent, the Collateral Agent and each of the
Lenders and be dated the Restatement Effective Date, (y) cover various matters regarding the
execution, delivery and performance of the Credit Documents to which Subsidiaries of Holdings
organized in the relevant such jurisdiction are party, the perfection and priority of security
interests granted by Credit Parties organized in such jurisdiction or granted in respect of
entities organized in such jurisdiction, and/or such other matters incident to the transactions
contemplated herein as the Agents may reasonably request and (z) be in form, scope and substance
reasonably satisfactory to the Agents.

          5.04 Company Documents; Proceedings. (a) On the Restatement Effective Date, the
Administrative Agent shall have received from (i) each New U.S. Credit Party a certificate, dated
the Restatement Effective Date, signed by the chairman, a vice-chairman, the president or any
vice-president of such New U.S. Credit Party, and attested to by the secretary, any assistant
secretary or other senior officer of such New U.S. Credit Party, in the form of Exhibit F with
appropriate insertions, together with copies of the certificate of incorporation, by laws or
equivalent organizational documents of such New U.S. Credit Party and the resolutions of such New
U.S. Credit Party referred to in such certificate and (ii) the U.S. Borrower a certificate, dated
the Restatement Effective Date, attaching copies of the certificates of incorporation, by-laws or
equivalent organizational documents of each Foreign Subsidiary of Holdings (x) which is a New
Foreign Subsidiary Guarantor or (y) in respect of which security interests are being (or have been)
granted by a New Foreign Subsidiary Guarantor, and all of the foregoing (including each such
certificate of incorporation, by-laws or other organizational document) shall be reasonably
satisfactory to the Agents.

          (b) On the Restatement Effective Date, the Administrative Agent shall have received a
certificate from each Credit Agreement Party and each U.S. Subsidiary Guarantor (other than the New
U.S. Credit Parties) (x) certifying that there were no changes, or providing the text of any
changes, to the certificate of incorporation, by-laws or equivalent organizational documents of
such Credit Agreement Party or such U.S. Subsidiary Guarantor as delivered pursuant to Section 5.04
of the Original Credit Agreement (and, in the case of the certificate from the U.S. Borrower, of
each Foreign Subsidiary Guarantor (other than a New Foreign Subsidiary Guarantor) as delivered
pursuant to Section 5.04 of the Original Credit Agreement), and (y) providing the resolutions
adopted by such Credit Agreement Party or such U.S. Subsidiary Guarantor (and, in the case of the
certificate from the U.S. Borrower, each Foreign Subsidiary Guarantor specifically requested by the
Administrative Agent based on advice of local counsel) with respect to the actions contemplated by
this Agreement, and all of the foregoing shall be acceptable to the Administrative Agent.

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          (c) On the Restatement Effective Date, all Company and legal proceedings and all instruments and
agreements in connection with the transactions contemplated by this Agreement and the other
Documents shall be reasonably satisfactory in form and substance to the Agents, and the
Administrative Agent shall have received all information and copies of all certificates, documents
and papers, including good standing certificates, bring-down certificates and any other records of
Company proceedings and governmental approvals, if any, which the Agents reasonably may have
requested in connection therewith, such documents and papers, where appropriate, to be certified by
proper Company or governmental authorities.

          (d) On the Restatement Effective Date and after giving effect to the Transaction, the
capital structure (including, without limitation, the terms of any capital stock, options, warrants
or other securities issued by Holdings and its Subsidiaries) and management of Holdings, the U.S.
Borrower and their respective Subsidiaries shall be in form and substance reasonably satisfactory
to the Agents.

          5.05 Adverse Change, etc. On the Restatement Effective Date, nothing shall have
occurred since December 31, 2005 (and the Agents and Lenders shall have become aware of no facts,
conditions or other information not previously known) which any Agent or the Required Lenders shall
reasonably determine has had, or could reasonably be likely to have, individually or in the
aggregate, (i) a Material Adverse Effect or (ii) material adverse effect on the Transaction.

          5.06 Litigation. On the Restatement Effective Date, there shall be no actions, suits,
proceedings or investigations pending or threatened (a) with respect to the Transaction or any
documentation executed in connection therewith (including any Credit Document) or the transactions
contemplated hereby and thereby, (b) with respect to any Existing Indebtedness or (c) which any
Agent or the Required Lenders shall determine has had, or could reasonably be expected to have,
individually or in the aggregate, (i) a Material Adverse Effect or (ii) a material adverse effect
on the Transaction.

          5.07 Approvals. On or prior to the Restatement Effective Date, (i) all necessary
governmental (domestic and foreign), regulatory and third party approvals and/or consents in
connection with any Existing Indebtedness, the Transaction, the transactions contemplated by the
Documents and otherwise referred to herein or therein shall have been obtained and remain in full
force and effect as of the Restatement Effective Date and evidence thereof shall have been provided
to the Administrative Agent, and (ii) all applicable waiting periods shall have expired without any
action being taken by any competent authority which restrains, prevents or imposes materially
adverse conditions upon the consummation of the Transaction, the making of the Loans and the
transactions contemplated by the Documents or otherwise referred to herein or therein.
Additionally, there shall not exist any judgment, order, injunction or other restraint issued or
filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or
imposing materially adverse conditions upon, or materially delaying, or making economically
unfeasible, the consummation of the Transaction or the making of the Loans or the other
transactions contemplated by the Documents or otherwise referred to herein or therein.

          5.08 Refinancing; Original Credit Agreement; etc. (a) On the Restatement Effective
Date (and concurrently with the Credit Events occurring on such date), Intermediate

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Holdco shall have (i) prepaid all of the outstanding Intermediate Holdco Indebtedness (other than
indemnities not then due and payable) (including, without limitation, the call or other premiums
payable in connection therewith and all accrued and unpaid interest thereon up to and including the
Intermediate Holdco Prepayment Date) in accordance with, and pursuant to, the terms of the
Intermediate Holdco Credit Agreement and the other Intermediate Holdco Credit Documents (and shall
have obtained all necessary amendments or waivers required thereunder to give effect to the
foregoing, on terms satisfactory to the Administrative Agent) or (ii) (A) submitted to the Agent
(as defined in the Intermediate Holdco Credit Agreement) an irrevocable notice of prepayment (the
“Intermediate Holdco Irrevocable Prepayment Notice”) of all of the outstanding Intermediate
Holdco Indebtedness (other than customary indemnities) pursuant to, and in accordance with, the
terms of the Intermediate Holdco Credit Agreement (including, without limitation, Section 4.01
thereof) and the other Intermediate Holdco Credit Documents (with a copy of such notice to the
Administrative Agent and the Intermediate Holdco Paying Agent (as defined below)) specifying that
such prepayment shall occur on a fixed date (which shall be a Business Day) no later than on the
35th day following the mailing of such Intermediate Holdco Irrevocable Prepayment Notice (the
“Intermediate Holdco Prepayment Date”), (B) deposited with DBAG, as paying agent
(in such capacity, and including any successor appointed pursuant to Section 12.10, the
“Intermediate Holdco Paying Agent”), amounts borrowed under the ABL Credit
Agreement and this Agreement sufficient to, and for the exclusive purpose, of prepaying all of the
outstanding Intermediate Holdco Indebtedness on the Intermediate Holdco Prepayment Date (including,
without limitation, the call or other premiums payable in connection therewith and all accrued and
unpaid interest thereon up to and including the Intermediate Holdco Prepayment Date) in accordance
with, and pursuant to, the terms of the Intermediate Holdco Credit Documents (collectively, the
“Intermediate Holdco Prepayment Funds”), on terms and pursuant to escrow
arrangements reasonably satisfactory to the Administrative Agent and (C) concurrently with the
deposit of the Intermediate Holdco Prepayment Funds, deliver to the Intermediate Holdco Paying
Agent (with a copy to the Administrative Agent), a written irrevocable letter of instruction (in
form and substance reasonably satisfactory to the Administrative Agent), executed by Intermediate
Holdco and Corporate Holdco, directing the Intermediate Holdco Paying Agent to (I) hold the
Intermediate Holdco Prepayment Funds in escrow until the Intermediate Holdco Prepayment Date and
(II) release, disburse and apply the Intermediate Holdco Prepayment Funds on the Intermediate
Holdco Prepayment Date, in accordance with the Intermediate Holdco Credit Agreement for the
exclusive purpose of prepaying all of the outstanding Intermediate Holdco Indebtedness on such date
(the foregoing, collectively, the “Intermediate Holdco Refinancing”). On the
Restatement Effective Date, (x) the Administrative Agent shall have received true and correct
copies of all Refinancing Documents relating to the Intermediate Holdco Refinancing, certified as
such by an appropriate officer of the U.S. Borrower and (y) all terms and conditions of the
Intermediate Holdco Refinancing and the Refinancing Documents governing the same shall be
reasonably satisfactory to the Agents.

          (b) On the Restatement Effective Date (and concurrently with the Credit Events occurring on
such date), the parties thereto shall have entered into the ABL Credit Agreement and the initial
borrowing shall have occurred thereunder.

          (c) On the Restatement Effective Date (and concurrently with the Credit Events occurring on
such date), and without duplication of amounts required to be paid, (i) the

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relevant Borrowers shall have made all payments required by the last paragraph of Section 1.01(b)
hereof and clauses (k) and (1) of Section 4.02 hereof, (ii) the principal of all outstanding
Original Loans (other than the Original Tranche B Loans being converted into Converted Tranche C
Term Loans on the Restatement Effective Date pursuant to Section 1.01(b)) shall be repaid in full,
(iii) all accrued interest on all outstanding extensions of credit pursuant to the Original Credit
Agreement, and all regularly accruing fees pursuant to the Original Credit Agreement, shall be
paid in full on, and through, the Restatement Effective Date (whether or not same would otherwise
then be due and payable pursuant to the Original Credit Agreement) and (iv) the Borrowers shall
have paid all other amounts then due and payable to any Original Lenders or any agent pursuant to
the terms of the Original Credit Agreement.

          5.09 Outstanding Indebtedness and Preferred Equity. On the Restatement Effective
Date and after giving effect to the consummation of the Transaction (including the Intermediate
Holdco Prepayment Consummation as if the same had occurred on such date), Holdings and its
Subsidiaries shall have no outstanding Preferred Equity or Indebtedness, except for (i)
Indebtedness pursuant to or in respect of the Credit Documents, (ii) Indebtedness pursuant to or in
respect of the Existing Senior Notes Documents in an aggregate outstanding principal amount not to
exceed $1,125,000,000, (iii) intercompany Indebtedness incurred by the Bermuda Borrower pursuant to
the Intercompany Distribution Transactions, (iv) Intercompany Scheduled Existing Indebtedness (it
being understood and agreed that, for the purposes of this Section 5.09, such Intercompany
Scheduled Existing Indebtedness shall be determined as of February 25, 2006), (v) existing
Indebtedness of the U.S. Borrower and its Subsidiaries of the type described in clauses (viii),
(xiii) and (xviii) of Section 9.04(b) in an aggregate principal amount not to exceed the principal
amount of such Indebtedness permitted by such clauses of Section 9.04(b), (vi) Synthetic Lease
obligations arising under the lease entered into in connection with the Sale- Leaseback
Transaction, (vii) Indebtedness pursuant to the ABL Credit Documents and (viii) such other existing
indebtedness of Holdings and its Subsidiaries, if any, as shall be permitted by the Agents and
Required Lenders to remain outstanding (all of which Indebtedness described in this clause (viii)
(other than immaterial Contingent Obligations of Subsidiaries of the U.S. Borrower that represent
guaranties of obligations other than Indebtedness) shall be required to be specifically listed as
Third Party Scheduled Existing Indebtedness on Part A of Schedule IV); for the avoidance of doubt,
preceding clauses (iv), (v), (vi) and (viii) shall in no event include any Indebtedness under, or
with respect to, the HQ Lease Agreements (as defined in the Original U.S. Security Agreement),
which Indebtedness has been paid in full (and related commitments with respect thereto terminated)
prior to the Restatement Effective Date. On and as of the Restatement Effective Date, all
Indebtedness described in the immediately preceding sentence shall remain outstanding after giving
effect to the Transaction and the other transactions contemplated hereby without any breach,
required repayment, required offer to purchase, default, event of default or termination rights
existing thereunder or arising as a result of the Transaction and the other transactions
contemplated hereby and there shall not be any amendments or modifications to the Existing
Indebtedness Agreements (other than as requested or approved by the Agents and the Required
Lenders). On and as of the Restatement Effective Date, the Agents and the Required Lenders shall be
satisfied with the amount of and the terms and conditions of all Indebtedness described above in
this Section 5.09.

          5.10
U.S. Subsidiaries Guaranty, Foreign Subsidiaries Guaranty
Acknowledgment; Intercompany Subordination Agreement Acknowledgement. (a) On the

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Restatement Effective Date, each U.S. Subsidiary Guarantor shall have duly authorized, executed and
delivered the Amended and Restated U.S. Subsidiaries Guaranty in the
form of Exhibit G-1 (as
further amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof, the “U.S. Subsidiaries Guaranty”). On the Restatement Effective Date, the U.S.
Subsidiaries Guaranty shall be in full force and effect.

          (b) On the Restatement Effective Date, each Wholly-Owned Foreign Subsidiary of Holdings party
to the Foreign Subsidiaries Guaranty shall have duly authorized, executed and delivered an
acknowledgment in the form of Exhibit G-2 (the “Foreign Subsidiaries Guaranty
Acknowledgement”), which Foreign Subsidiaries Guaranty Acknowledgment shall contain,
among other things, (i) an acknowledgment of this Agreement and the transactions contemplated
hereby, (ii) an acknowledgement that the “Obligations” (as defined in the Foreign Subsidiaries
Guaranty) include all of the Obligations of the Bermuda Borrower under this Agreement after giving
effect to the Restatement Effective Date, and (iii) an acknowledgment that, after giving effect to
the Restatement Effective Date, the Foreign Subsidiaries Guaranty shall remain in full force and
effect in accordance with its terms. On the Restatement Effective Date, the Foreign Subsidiaries
Guaranty shall be in full force and effect.

          (a) On the Restatement Effective Date, each Credit Party and each other Subsidiary of
Holdings which is an obligee or obligor with respect to any Intercompany Debt (other than those
Non-Wholly-Owned Subsidiaries listed on Part D of Schedule XII) shall have duly authorized,
executed and delivered an acknowledgment in the form of
Exhibit O-1 (the “Intercompany
Subordination Agreement Acknowledgement”), and the Intercompany Subordination
Agreement shall be in full force and effect.

          5.11 U.S. Security Documents. (a) On the Restatement Effective Date, the U.S. Credit
Parties shall have (i) delivered to the Collateral Agent, or caused to be delivered to the
Collateral Agent, fully executed counterparts of amendments (or, in the alternative, amended and
restated mortgages), in form and substance satisfactory to the Administrative Agent, to each of
the Mortgages covering a U.S. Mortgaged Property, together with evidence that counterparts of each
such mortgage amendment and each such amended and restated mortgage has been delivered to the
title company insuring the Lien on the Mortgages for recording in all places to the extent
necessary or desirable, in the judgment of the Collateral Agent, effectively to maintain a valid
and enforceable first priority mortgage lien on the U.S. Mortgaged Properties, in accordance with
the terms of the Intercreditor Agreement, in favor of the Collateral Agent for the benefit of the
Secured Creditors securing all of the Obligations (including the Term Loans, all extensions of
credit pursuant to the CL Tranche and the maximum amount of Incremental Term Loans which may be
incurred), (ii) delivered to the Collateral Agent, or caused to be delivered to the Collateral
Agent, endorsements to each Mortgage Policy reasonably satisfactory to the Collateral Agent,
insuring the Collateral Agent that each Mortgage is a valid and enforceable first priority
mortgage lien on the respective Mortgaged Properties, free and clear of all defects and
encumbrances except Permitted Encumbrances and (iii) taken (or caused to be taken) all actions
reasonably required by the Administrative Agent (including, without limitation, the obtaining of
UCC-11’s or equivalent reports and the filing of UCC-1’s or UCC-3’s) in connection with the
granting of liens pursuant to the Mortgages covering U.S. Mortgaged Properties.

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          (b) On the Restatement Effective Date, each U.S. Credit Party shall have duly authorized, executed
and delivered the Amended and Restated U.S. Pledge Agreement in the form of Exhibit H-l (as
amended, modified, restated and/or supplemented from time to time in accordance with the terms
hereof and thereof, the “U.S. Pledge Agreement”) and shall have delivered (or shall have
previously delivered) to the Collateral Agent, as Pledgee thereunder, all of the U.S. Pledge
Agreement Collateral, if any, referred to therein and then owned by such U.S. Credit Party,
together with executed and undated endorsements for transfer or transfer powers, as applicable, in
the case of Equity Interests constituting certificated U.S. Pledge Agreement Collateral, along with
evidence that all other actions necessary or, in the reasonable opinion of the Collateral Agent,
desirable, to perfect the security interests purported to be created by the U.S. Pledge Agreement
have been taken and the U.S. Pledge Agreement shall be in full force and effect.

          (c) On the Restatement Effective Date, each U.S. Credit Party shall have duly authorized,
executed and delivered the Amended and Restated U.S. Security Agreement in the form of Exhibit H-2
(as amended, modified, restated and/or supplemented from time to time in accordance with the terms
hereof and thereof, the “U.S. Security Agreement”) and shall have delivered (or shall have
previously delivered) to the Collateral Agent thereunder evidence that all other actions necessary
or, in the reasonable opinion of the Collateral Agent, desirable, to perfect the security interests
purported to be created by the U.S. Security Agreement have been taken and the U.S. Security
Agreement shall be in full force and effect. No filings, recordings, registrations or other actions
shall be necessary or desirable to maintain the perfection and priority of the security interests
granted pursuant to the U.S. Security Agreement, in accordance with the terms of the Intercreditor
Agreement, in the U.S. Security Agreement Collateral covered thereby.

          (d) On the Restatement Effective Date, the Intercompany Receivables Documents shall
be in full force and effect.

          5.12 Foreign Security Document Acknowledgements and Amendments. (a) On the
Restatement Effective Date, (i) each of the Credit Parties listed on Part F of Schedule XII shall
have duly authorized, executed and delivered an acknowledgement and/or amendment with respect to
each Foreign Security Document to which it is a party (each a “Foreign Security Document
Acknowledgement and/or Amendment”), which acknowledgement and/or amendment shall (w)
be prepared by local counsel reasonably satisfactory to the Agents, (x) be sufficient to maintain
a valid and enforceable first priority lien on the Collateral covered by such Foreign Security
Document in favor of the Collateral Agent for the benefit of the Secured Creditors securing all of
the relevant Obligations (including any incremental Obligations resulting from the provision of
Letters of Credit and Bank Guaranties, Tranche C Term Loans and Incremental Term Loan Commitments
to the Bermuda Borrower), (y) be in full force and effect (and, if applicable, properly recorded)
and (z) otherwise be in form and substance satisfactory to the Administrative Agent, (ii) such
Credit Parties shall have taken such actions as may be necessary or desirable under local law (as
advised by local counsel) to create, maintain, effect, perfect, preserve, maintain and protect the
security interests granted (or purported to be granted) by each such Foreign Security Document and
(iii) each Foreign Security Document shall be in full force and effect. Part E of Schedule XII
sets forth a list of all Foreign Security Document

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Acknowledgements and/or Amendments to be executed and delivered on the Restatement Effective Date.

          (b) On the Restatement Effective Date, each Foreign Credit Party listed on Part G of Schedule
XII shall have duly authorized, executed and delivered such amended and restated and/or replacement
security agreements, documents and instruments as may be required by the Agents (based on advice of
local counsel), with the intent being that the Lenders receive valid and enforceable first
priority, perfected security interests in the assets owned by such Foreign Credit Party and
originally covered by the Foreign Security Agreements entered into by such Foreign Credit Party
pursuant to the Original Credit Agreement, securing all of the relevant Obligations (including such
Foreign Credit Party’s guaranty obligations with respect to the Letters of Credit and Bank
Guaranties issued for the account of the Bermuda Borrower and the Tranche C Term Loans and the
Bermuda Borrower Incremental Term Loans). All such security documentation to be executed and
delivered by the Foreign Credit Parties pursuant to the immediately preceding sentence (each, as
amended, modified, restated and/or supplemented from time to time, a “Replacement Foreign
Security Agreement” and, collectively, the “Replacement Foreign Security Agreements”)
shall (i) be prepared by local counsel reasonably satisfactory to the Agents, (ii) be in form and
substance reasonably satisfactory to the Agents and (iii) be in full force and effect on the
Restatement Effective Date. In connection with the execution and delivery of the Replacement
Foreign Security Agreements, the respective Foreign Credit Parties shall take such actions as may
be necessary or desirable under local law (as advised by local counsel) to create, maintain,
effect, perfect, preserve, maintain and protect the security interests granted (or purported to be
granted) thereby, in each case to the extent customary in connection with secured transactions
under the laws of the respective jurisdiction or deemed necessary or desirable by the Agents based
on advice of local counsel. Part G of Schedule XII sets forth all Replacement Foreign Security
Agreements to be executed and delivered on the Restatement Effective Date.

          5.13 Shareholders’ Agreements; Management Agreements; Existing Indebtedness Agreements:
and Tax Allocation Agreements. (a) On or prior to the Restatement Effective Date, there shall
have been made available to the Administrative Agent by the U.S. Borrower true and correct copies
of the following documents as same will be in effect on the Restatement Effective Date after the
consummation of the Transaction, in each case, except to the extent already delivered or made
available for review by the Administrative Agent pursuant to Section 5.13 of the Original Credit
Agreement), certified as such by the U.S. Borrower (in the case of the agreements referred to in
clause (i), (ii) and (iv) below):

     (i) all written agreements (including, without limitation, shareholders’ agreements,
subscription agreements and registration rights agreements) entered into by Holdings or any
of its Subsidiaries governing the terms and relative rights of its capital stock or other
Equity Interests and any agreements entered into by shareholders relating to any such entity
with respect to its capital stock or other Equity Interests (collectively, together with any
agreements referred to in Section 5.13(i) of the Original Credit Agreement that continue to
be in effect on the Restatement Effective Date, and any amendments thereto referred to in
Section 5.13(b), the “Shareholders’ Agreements”);

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     (ii) all material written agreements (including employment agreements but limited to
those of executive management and division presidents) entered into by Holdings or any of
its Subsidiaries with respect to the management of Holdings or any of its Subsidiaries after
giving effect to the Transaction (including consulting agreements and other management
advisory agreements) (collectively, together with any agreements referred to in Section
5.13(ii) of the Original Credit Agreement that continue to be in effect on the Restatement
Effective Date, and any amendments thereto referred to in Section 5.13(b), the
“Management Agreements”);

     (iii) all agreements evidencing or relating to any material Existing Indebtedness of
Holdings or any of its Subsidiaries (collectively, together with any agreements referred to
in Section 5.13(iii) of the Original Credit Agreement that continue to be in effect on the
Restatement Effective Date, and any amendments thereto referred to in Section 5.13(b), the
“Existing Indebtedness Agreements”); and

     (iv) any tax sharing or tax allocation agreements entered into by Holdings or any of
its Subsidiaries (collectively, together with any agreements referred to in Section 5.13(iv)
of the Original Credit Agreement that continue to be in effect on the Restatement Effective
Date, and any amendments thereto referred to in Section 5.13(b), the “Tax Allocation
Agreements”);

all of which Shareholders’ Agreements, Management Agreements, Existing Indebtedness Agreements and
Tax Allocation Agreements shall be in form and substance reasonably satisfactory to the Agents and
shall be in full force and effect on the Restatement Effective Date.

          (b) On or prior to the Restatement Effective Date, the Administrative Agent shall have
received (i) a certification from an Authorized Officer of the U.S. Borrower that all agreements
referenced in clauses (i), (ii), (iii) and (iv) of Section 5.13 of the Original Credit Agreement
previously delivered (or made available) to the Administrative Agent by the U.S. Borrower and/or
any of its Subsidiaries, remain in full force and effect (or specifying which of such agreements do
not remain in full force and effect) and (ii) any amendments to the agreements referred to in
clauses (i), (ii), (iii) and (iv) of Section 5.13 of the Original Credit Agreement that remain in
effect on the Restatement Effective Date.

          5.14 Solvency Certificate. On or before the Restatement Effective Date, the
Administrative Agent shall have received a solvency certificate in the form of Exhibit I from the
chief financial officer of Holdings, dated the Restatement Effective Date, and supporting the
conclusion that, after giving effect to the Transaction and the incurrence of all financings
contemplated herein, each Borrower (on a stand-alone basis), the U.S. Borrower and its
Subsidiaries (on a consolidated basis), the Bermuda Borrower and its Subsidiaries (on a
consolidated basis) and Holdings and its Subsidiaries (on a consolidated basis), in each case, are
not insolvent and will not be rendered insolvent by the indebtedness incurred in connection
herewith, will not be left with unreasonably small capital with which to engage in its or their
respective businesses and will not have incurred debts beyond its or their ability to pay such
debts as they mature and become due.

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          5.15 Financial Statements: Pro Forma Financial Statements; Projections. (a)
On or prior to the Restatement Effective Date, there shall have been delivered to the
Administrative Agent (i) true and correct copies of the financial statements referred to in Section
7.10(b)(i) and (ii) an unaudited pro forma (calculated as if the Transaction had occurred
on such date) consolidated balance sheet of the U.S. Borrower and its Consolidated Subsidiaries as
of December 31, 2005 and the related pro forma (calculated as if the Transaction
had occurred on the first day of the period covered thereby) statement of income for the
twelve-month period ended as of such date, after giving effect to the Transaction and the
incurrence of all Indebtedness contemplated herein (the
“Pro Forma Financial Statements”),
together with a related funds flow statement, which financial
statements, Pro Forma
Financial Statements and funds flow statement shall be reasonably satisfactory to the Agents and
the Required Lenders.

          (b) On or prior to the Restatement Effective Date, there shall have been delivered to the
Administrative Agent detailed projected consolidated financial statements of the U.S. Borrower and
its Consolidated Subsidiaries certified by the Chief Financial Officer of the U.S. Borrower for
the five Fiscal Years ended after the Restatement Effective Date (the
“Projections”), which
Projections (x) shall reflect the forecasted consolidated financial conditions and income and
expenses of the U.S. Borrower and its Consolidated Subsidiaries after giving effect to the
Transaction and the related financing thereof and the other transactions contemplated hereby and
(y) shall be reasonably satisfactory in form and substance to the Agents and the Required Lenders.

          5.16 Payment of Fees. On the Restatement Effective Date, all costs, fees and
expenses, and all other compensation due to the Agents and the Lenders (including, without
limitation, legal fees and expenses) shall have been paid to the extent then due.

          5.17 Consent Letter. On the Restatement Effective Date, the Administrative Agent
shall have received a letter from Corporation Service Company, presently located at 80 State
Street, Albany, New York, 12207, substantially in the form of Exhibit N, indicating its consent to
its appointment by each New Foreign Subsidiary Guarantor as its agent to receive service of process
as specified in the Foreign Subsidiaries Guaranty.

          5.18 Intercreditor Agreement. On the Restatement Effective Date, each Credit Party,
the Collateral Agent, each ABL Credit Party and the ABL Collateral Agent shall have duly
authorized, executed and delivered the Intercreditor Agreement in the form of Exhibit Q (as
amended, modified, restated and/or supplemented from time to time,
the “Intercreditor
Agreement”), and the Intercreditor Agreement shall be in full force and effect on the
Restatement Effective Date.

          Section 6. Conditions Precedent to All Credit Events. The obligation of each Lender to
make Loans (including Loans made on the Restatement Effective Date), the obligation of the each CL
Lender to fund its Credit-Linked Deposit and the obligation of an Issuing Lender to issue any
Letter of Credit (including any Existing Letters of Credit, deemed issued on the Restatement
Effective Date as contemplated by Section 2A.01(d)) and the obligation of a Bank Guaranty Issuer to
issue any Bank Guaranty (including Existing Bank Guaranties, deemed issued on the Restatement
Effective Date as contemplated by Section 2B.01(d)), is subject, at the time

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of each such Credit Event (except as hereinafter indicated), to the satisfaction of the following
conditions:

          6.01 No Default; Representations and Warranties. At the time of each such Credit
Event and immediately after giving effect thereto (i) there shall exist no Default or Event of
Default and (ii) all representations and warranties contained herein or in any other Credit
Document shall be true and correct in all material respects with the same effect as though such
representations and warranties had been made on the date of such Credit Event (it being understood
and agreed that any representation or warranty which by its terms is made as of a specified date
shall be required to be true and correct in all material respects only as of such specified date).

          6.02 Notice of Borrowing; Letter of Credit Request: etc. (a) Prior to the making of
each Loan, the Administrative Agent shall have received a Notice of Borrowing meeting the
requirements of Section 1.03.

          (b) Prior to the issuance of each Letter of Credit (other than the Existing Letters of
Credit), the Administrative Agent and the respective Issuing Lender shall have received a Letter of
Credit Request meeting the requirements of Section 2A.03(a).

          (c) Prior to the issuance of each Bank Guaranty (other than the Existing Bank Guaranties), the
Administrative Agent and the respective Bank Guaranty Issuer shall have received a Bank Guaranty
Request meeting the requirements of Section 2B.03(a).

          6.03 Incremental Term Loans. Prior to the incurrence of any Incremental Term Loans,
Holdings shall have satisfied (or caused to be satisfied) all of the applicable conditions set
forth in Section 1.15.

          The occurrence of the Restatement Effective Date and the acceptance of the benefits or
proceeds of each Credit Event shall constitute a representation and warranty by each Credit
Agreement Party to each Agent and each of the Lenders that all the conditions specified in Section
5 (with respect to Credit Events occurring on the Restatement Effective Date) and Section 6 (with
respect to Credit Events on and after the Restatement Effective Date) and applicable to such Credit
Event (other than such conditions that are expressly subject to the satisfaction of the Agents
and/or the Required Lenders) exist as of that time. All of the Notes, certificates, legal opinions
and other documents and papers referred to in Sections 5 and 6, unless otherwise specified, shall
be delivered to the Administrative Agent at the Notice Office for the account of each of the
Lenders and, except for the Notes, in sufficient counterparts or copies for each of the Lenders and
shall be in form and substance reasonably satisfactory to the Lenders (as evidenced by their
execution and delivery of this Agreement).

          Section 7. Representations and Warranties. In order to induce the Lenders to enter
into this Agreement, to make (and/or continue) the Loans, fund the Credit-Linked Deposits and
issue and/or participate in the Letters of Credit and Bank Guaranties as provided for herein, each
Credit Agreement Party makes the following representations, warranties and agreements with the
Lenders, in each case after giving effect to the Transaction, all of which shall survive the
execution and delivery of this Agreement, the making of the Loans, the funding of the Credit-

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Linked Deposits and the issuance (or deemed issuance) of the Letters of Credit and Bank Guaranties
(with the occurrence of the Restatement Effective Date and each Credit Event on or after the
Restatement Effective Date being deemed to constitute a representation and warranty that the
matters specified in this Section 7 are true and correct in all material respects on and as of the
Restatement Effective Date and on and as of the date of each such Credit Event, unless stated to
relate to a specific earlier date in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date):

          7.01 Company Status. Each of Holdings and each of its Subsidiaries (i) is a duly
organized and validly existing Company in good standing (or its equivalent) under the laws of the
jurisdiction of its organization, (ii) has the Company power and authority to own its property and
assets and to transact the business in which it is engaged and presently proposes to engage and
(iii) is duly qualified and is authorized to do business and is in good standing (or its
equivalent) in all jurisdictions where it is required to be so qualified (or its equivalent) and
where the failure to be so qualified has had, or could reasonably be expected to have, a Material
Adverse Effect.

          7.02 Company Power and Authority. Each Credit Party and each Subsidiary thereof has
the Company power and authority to execute, deliver and carry out the terms and provisions of the
Documents to which it is a party and has taken all necessary Company action to authorize the
execution, delivery and performance of the Documents to which it is a party. Each Credit Party and
each Subsidiary thereof has duly executed and delivered each Document to which it is a party and
each such Document constitutes the legal, valid and binding obligation of such Credit Party
enforceable in accordance with its terms, except to the extent that the enforceability thereof may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
generally affecting creditors’ rights and by equitable principles (regardless of whether
enforcement is sought in equity or at law).

          7.03 No Violation. (a) Neither the execution, delivery or performance by any Credit
Party or any Subsidiary thereof of the Documents to which it is a party, nor compliance by any
Credit Party or any such Subsidiary with the terms and provisions thereof, nor the consummation of
the transactions contemplated herein or therein, (i) will contravene any material provision of any
applicable law, statute, rule or regulation, or any order, writ, injunction or decree of any court
or governmental instrumentality, (ii) will conflict or be inconsistent with or result in any breach
of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or
(other than pursuant to the Security Documents) result in the creation or imposition of (or the
obligation to create or impose) any Lien upon any of the material property or assets of Holdings or
any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan
agreement, credit agreement or any other material agreement, contract or instrument to which
Holdings or any of its Subsidiaries is a party or by which it or any of its material property or
assets are bound or to which it may be subject (including, without limitation, the ABL Credit
Documents, the Existing Senior Notes Documents, the Intermediate Holdco Credit Documents, the other
Existing Indebtedness Agreements and any Wellbeing Project Financing Document, and, on and after
the execution and delivery thereof, any Permitted Senior Notes Indenture and any Permitted
Refinancing Senior Notes Document) or (iii) will violate any provision of the certificate of
incorporation, by-laws, certificate of partnership, partnership

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agreement, certificate of limited liability company, limited liability company agreement or
equivalent organizational document, as the case may be, of Holdings or any of its Subsidiaries.

     (b) Without limiting the generality of the foregoing in Section 7.03(a):

          (i) this Agreement, together with the ABL Credit Agreement, constitute (individually and
collectively) the “Credit Agreement” under, and as defined in, each Existing Senior Notes
Indenture;

          (ii) the incurrence by the relevant Borrowers of the Loans and other Indebtedness hereunder
under on the Restatement Effective Date and on the date of each subsequent Credit Event will not
violate any of (I) Section 1014 of the Existing 2009 Senior Notes Indenture or any other provision
thereof, (II) Section 4.9 of the Existing 2010 Senior Notes Indenture or any other provision
thereof, (III) Section 4.9 of the Existing 2011 Senior Notes Indenture or any other provision
thereof, or (IV) Section 1014 of the Existing 2013 Senior Notes Indenture or any other provision
thereof and, without limiting the foregoing, on the Restatement Effective Date, neither the
incurrence of any Loans to be incurred on such date, nor the incurrence of Indebtedness in the
full amount of the commitments available under the ABL Credit Agreement and pursuant to the Total
Credit-Linked Commitment (as if, in each case, such commitments were fully utilized on such date),
would violate any of the sections specifically set forth above (or any other provision) of the
Existing Senior Notes Indentures;

          (iii) on the Restatement Effective Date, all Subsidiary Guarantors which are Domestic
Subsidiaries of the U.S. Borrower are “Restricted Subsidiaries” under, and as defined in, each
Existing Senior Notes Indenture and have executed and delivered guaranties in accordance with the
requirements of the respective Existing Senior Notes Indentures; and

          (iv) for the purpose of the definition of “Permitted Indebtedness” under, and as defined in,
each Existing Senior Notes Indenture, on the Restatement Effective Date no repayment of term loans
and/or permanent commitment reductions in the revolving credit portion of the Credit Agreement (as
defined therein) has theretofore occurred (whether prior to, or on, the Restatement Effective
Date) which has resulted in any reduction to the maximum aggregate amount of Indebtedness
permitted to be incurred pursuant to, or under, the Credit Agreement (as defined therein) in
accordance with the applicable Existing Senior Notes Indenture.

          7.04 Litigation. There are no actions, suits, proceedings or investigations pending
or, to the knowledge of any Senior Officer, threatened (i) with respect to any Credit Document,
(ii) with respect to the Transaction or any other Document or (iii) that have had, or could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Additionally, there does not exist any judgment, order or injunction prohibiting or imposing
material adverse conditions upon the occurrence of any Credit Event.

          7.05
Use of Proceeds; Margin Regulations. (a) The proceeds of the Tranche B Term Loans
and the Tranche C Term Loans shall be utilized by the U.S. Borrower and the Bermuda Borrower,
respectively, on the Restatement Effective Date solely to finance the Refinancing and to pay fees
and expenses incurred in connection with the Transaction. All proceeds of Incremental Term Loans
incurred by each Incremental Term Loan Borrower shall be

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used for any purpose permitted under this Agreement, including, without limitation, (i) to finance
Permitted Acquisitions (and to pay the fees and expenses related thereto) and to refinance any
Indebtedness assumed as part of any such Permitted Acquisitions (and to pay all accrued and unpaid
interest thereon, any prepayment premium associated therewith and the fees and expenses related
thereto), (ii) to prepay outstanding Loans in accordance with the terms of this Agreement and to
prepay outstanding ABL Loans in accordance with the terms of the ABL Credit Agreement, (iii) for
the Incremental Term Loan Borrowers’ and their respective Subsidiaries’ ongoing working capital
requirements and general corporate purposes and (iv) in the case of Incremental Term Loans incurred
by the U.S. Borrower, to (x) make intercompany loans to Intermediate Holdco pursuant to Section
9.05(xxi) to be utilized for the purposes described in subclause (iv) thereof and/or (y) pay
Dividends to Intermediate Holdco pursuant to Section 9.06(ix) to be utilized for the purposes
described in subclause (v) thereof.

          (b) At the time of each Credit Event occurring on or after the Restatement Effective Date,
the aggregate value of all Margin Stock (other than treasury stock) owned by Holdings and its
Subsidiaries (for such purpose, using the initial purchase price paid by Holdings or such
Subsidiary for the respective shares of Margin Stock) does not exceed $10,000,000. In addition, at
the time of each Credit Event occurring on or after the Restatement Effective Date, the value of
the Margin Stock at any time owned by Holdings and its Subsidiaries does not exceed 25% of the
value of the assets of Holdings and its Subsidiaries taken as a whole. Neither the making of any
Loan nor the use of the proceeds thereof nor the occurrence of any other Credit Event will violate
or be inconsistent with the provisions of Regulation T, Regulation U or Regulation X.

          7.06 Governmental Approvals. Except as may have been obtained or made on or prior to
the Restatement Effective Date (and which remain in full force and effect on the Restatement
Effective Date), no order, consent, approval, license, authorization or validation of, or filing,
recording or registration with, or exemption by, any foreign or domestic governmental or public
body or authority, or any subdivision thereof, is required to authorize or is required in
connection with (i) the execution, delivery and performance of any Document or (ii) the legality,
validity, binding effect or enforceability of any Document.

          7.07 Investment Company Act. Neither Holdings nor any of its Subsidiaries is an
“investment company” or a company “controlled” by an “investment company,” within the meaning of
the Investment Company Act of 1940, as amended.

          7.08 Public Utility Holding Company Act. Neither Holdings nor any of its Subsidiaries
is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a
“holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the
Public Utility Holding Company Act of 1935, as amended.

          7.09 True and Complete Disclosure. All factual information (taken as a whole)
heretofore or contemporaneously furnished by or on behalf of Holdings or any of its Subsidiaries in
writing to any Agent or any Lender (including, without limitation, all information contained in the
Documents) for purposes of or in connection with this Agreement, the other Documents or any
transaction contemplated herein or therein is, and all other such factual information (taken as a
whole) hereafter furnished by or on behalf of any such Persons in writing to any Agent or any

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Lender will be, true and accurate in all material respects on the date as of which such
information is dated or certified and not incomplete by omitting to state any material fact
necessary to make such information (taken as a whole) not misleading in any material respect at
such time in light of the circumstances under which such information was provided, it being
understood and agreed that for purposes of this Section 7.09, such factual information shall not
include the Projections or any projected financial information contained in any financial
projections delivered pursuant to Section 8.01(c).

          7.10 Financial Condition; Financial Statements. (a) On and as of the Restatement
Effective Date, on a pro forma basis after giving effect to the Transaction and to all
Indebtedness (including the Loans) incurred, and to be incurred, and Liens created, and to be
created, by each Credit Party in connection therewith, with respect to each Borrower (on a
stand-alone basis), Holdings and its Subsidiaries (on a consolidated basis) and each Borrower and
its Subsidiaries (on a consolidated basis) (x) the sum of the assets, at a fair valuation, of each
Borrower (on a stand-alone basis), Holdings and its Subsidiaries (on a consolidated basis) and
each Borrower and its Subsidiaries (on a consolidated basis) will exceed its or their debts, (y)
it has or they have not incurred nor intended to, nor believes or believe that it or they will,
incur debts beyond its or their ability to pay such debts as such debts mature and (z) it or they
will have sufficient capital with which to conduct its or their business. For purposes of this
Section 7.10(a), “debt” means any liability on a claim, and “claim” means (i) right to payment,
whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (ii) right to
an equitable remedy for breach of performance if such breach gives rise to a payment, whether or
not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured,
unmatured, disputed, undisputed, secured or unsecured. The amount of contingent liabilities at any
time shall be computed as the amount that, in the light of all facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an actual or matured
liability.

          (b) (i) The audited consolidated statements of financial condition of the U.S. Borrower and
its Consolidated Subsidiaries at December 28, 2002, January 3, 2004 and January 1, 2005 and the
related consolidated statements of income and cash flows and changes in shareholders’ equity of the
U.S. Borrower and its Consolidated Subsidiaries for the fiscal years of the U.S. Borrower ended on
such dates, in each case furnished to the Lenders prior to the Restatement Effective Date, present
fairly in all material respects the consolidated financial position of the U.S. Borrower and its
Consolidated Subsidiaries at the date of said financial statements and the results for the
respective periods covered thereby and (ii) the Pro
Forma Financial Statements present a
good faith estimate of the consolidated pro forma financial condition of the U.S. Borrower
and its Consolidated Subsidiaries and the pro forma results of operations of the U.S.
Borrower and its Consolidated Subsidiaries for the respective periods covered thereby (after giving
effect to the Transaction at the date thereof or for the period covered thereby). All of the
financial statements referred to in clause (i) of the immediately preceding sentence have been
prepared in accordance with U.S. GAAP consistently applied except to the extent provided in the
notes to said financial statements.

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          (c) Since December 31, 2005 (but after giving effect to the Transaction as if same had
occurred immediately prior thereto), nothing has occurred that has had, or could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

          (d) Except as fully reflected in the financial statements described in Section 7.10(b) and as
otherwise permitted by Section 9.04, (i) there were as of the Restatement Effective Date (and after
giving effect to any Loans made on such date), no liabilities or obligations with respect to
Holdings or any of its Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent
or otherwise and whether or not due) which, either individually or in the aggregate, could
reasonably be expected to be material to Holdings and its Subsidiaries taken as a whole and (ii) no
Credit Agreement Party knows of any basis for the assertion against Holdings or any of its
Subsidiaries of any such liability or obligation which, either individually or in the aggregate,
has had, or could reasonably be expected to have, a Material Adverse Effect.

          (e) The Projections have been prepared on a basis consistent with the financial statements
referred to in Section 7.10(b) and are based on good faith estimates and assumptions made by the
management of Holdings, and on the Restatement Effective Date, the Borrowers believe that the
Projections are reasonable and attainable, it being recognized by the Lenders that such projections
of future events are not to be viewed as facts and that actual results during the period or periods
covered by any such Projections may differ from the projected results contained therein. There is
no fact known to any Credit Agreement Party or any of its Subsidiaries which has had, or could
reasonably be expected to have, a Material Adverse Effect, which has not been disclosed herein or
in such other documents, certificates and statements furnished to the Lenders for use in connection
with the transactions contemplated hereby.

          7.11 Security Interests. On and after the Restatement Effective Date, each of the
Security Documents creates (or after the execution and delivery thereof will create), as security
for the Obligations covered thereby, a valid and enforceable perfected security interest in and
Lien on all of the Collateral subject thereto, superior to and prior to the rights of all third
Persons, and subject to no other Liens (except that, subject to the provisions of the Intercreditor
Agreement, (i) the Security Agreement Collateral may be subject to Permitted Liens, (ii) the Pledge
Agreement Collateral may be subject to the Liens described in clauses (i) and (v) of Section 9.03
and clause (y) of Section 9.03(iii) and (iii) the security interest and mortgage lien created on
any Mortgaged Property may be subject to the Permitted Encumbrances related thereto), in favor of
the Collateral Agent (or such other trustee or sub-agent as may be required or desired under local
law). No filings or recordings are required in order to perfect and/or render enforceable as
against third parties the security interests created under any Security Document except for filings
or recordings required in connection with any such Security Document which shall have been made on
or prior to the Restatement Effective Date or on or prior to the execution and delivery thereof as
contemplated by Sections 8.11, 8.12, 8.15 and 9.11.

          7.12 Compliance with ERISA. (a) Schedule V sets forth, as of the
Restatement Effective Date, each Plan and each Multiemployer Plan. Each Plan (and each related
trust, insurance contract or fund) is in compliance in all respects with its terms and in all
respects with all applicable laws, including, without limitation, ERISA and the Code and in
compliance with the following, except to the extent that any such noncompliances, individually or
in the aggregate, would not result in a Material Adverse Effect; each Plan (and each related

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trust, if any) which is intended to be qualified under Section 401 (a) of the Code has received a
determination letter from the Internal Revenue Service to the effect that it meets the requirements
of Sections 401 (a) and 501 (a) of the Code (or the sponsor has applied for such determination
letter within the remedial amendment period); (1) no Reportable Event has occurred; (2) to the
knowledge of any Senior Officer, no Multiemployer Plan is insolvent or in reorganization; (3) no
Plan has an Unfunded Current Liability; (4) no Plan which is subject to Section 412 of the Code or
Section 302 of ERISA has an accumulated funding deficiency, within the meaning of such sections of
the Code or ERISA, or has applied for or received a waiver of an accumulated funding deficiency or
an extension of any amortization period, within the meaning of Section 412 of the Code or Section
303 or 304 of ERISA; (5) all required contributions with respect to a Plan and a Multiemployer Plan
have been made; (6) neither Holdings nor any Subsidiary of Holdings nor any ERISA Affiliate has
incurred any outstanding material liability (including any indirect, contingent or secondary
liability) to or on account of a Plan or a Multiemployer Plan pursuant to Section 409, 502(i),
502(1), 515, 4062, 4063, 4064, 4069, 4201, 4204 or 4212 of ERISA or Section 401(a)(29), 4971 or
4975 of the Code or expects to incur any such material liability under any of the foregoing
sections with respect to any Plan or a Multiemployer Plan; (7) no condition exists which presents a
material risk to Holdings or any Subsidiary of Holdings or any ERISA Affiliate of incurring a
material liability to or on account of a Plan or a Multiemployer Plan pursuant to the foregoing
provisions of ERISA and the Code; (8) no involuntary proceedings have been instituted to terminate
or appoint a trustee to administer any Plan which is subject to Title IV of ERISA; (9) no action,
suit, proceeding, hearing, audit or investigation with respect to the administration, operation or
the investment of assets of any Plan (other than routine claims for benefits) is pending, expected
or threatened; (10) using actuarial assumptions and computation methods consistent with Part 1 of
subtitle E of Title IV of ERISA, the aggregate liabilities of Holdings and its Subsidiaries and
ERISA Affiliates to any Multiemployer Plans in the event of a withdrawal therefrom, as of the close
of the most recent fiscal year of each such Multiemployer Plan ended prior to the date of the most
recent Credit Event would not exceed $10,000,000; (11) each group health plan (as defined in
Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) which covers or has covered employees
or former employees of Holdings, any Subsidiary of Holdings, or any ERISA Affiliate has at all
times been operated in compliance with the provisions of Part 6 of subtitle B of Title I of ERISA
and Section 4980B of the Code other than any non-compliance which would not result in a material
liability to Holdings or any Subsidiary of Holdings; (12) no lien imposed under the Code or ERISA
on the assets of Holdings or any Subsidiary of Holdings or any ERISA Affiliate exists, is likely to
arise on account of any Plan or any Multiemployer Plan; and (13) and neither Holdings nor any
Subsidiary of Holdings maintains or contributes to (a) any employee welfare benefit plan (as
defined in Section 3(1) of ERISA) which provides benefits to retired employees and/or other former
employees (other than as required by Section 601 of ERISA) or (b) any Plan, the obligations with
respect to which could reasonably be expected to have a Material Adverse Effect.

          (b) Each Foreign Pension Plan has been maintained in substantial compliance with its terms
and with the requirements of any and all applicable laws, statutes, rules, regulations and orders
and has been maintained, where required, in good standing with applicable regulatory authorities,
except to the extent that such noncompliances, individually or in the aggregate, would not result
in a Material Adverse Effect. All required contributions with respect to a Foreign Pension Plan
have been made. Neither Holdings nor any of its Subsidiaries

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has incurred any material outstanding obligation in connection with the termination of or
withdrawal from any Foreign Pension Plan. The present value of the accrued benefit liabilities
(whether or not vested) under each Foreign Pension Plan, determined as of the end of Holdings’
most recently ended fiscal year on the basis of actuarial assumptions, each of which is
reasonable, did not exceed the current value of the assets of such Foreign Pension Plan allocable
to such benefit liabilities or alternatively, the Foreign Pension Plan is funded in compliance
with applicable law in all material respects and Holdings and its Subsidiaries have established
adequate reserves for the present value of such accrued benefit liabilities under such Foreign
Pension Plan in the financial statements delivered pursuant to Section 8.01(a) and (b).

          7.13 Capitalization. (a) On the Restatement Effective Date and after giving effect to
the Transaction, the authorized capital stock of Holdings shall consist of 1,000 shares of common
stock, $.001 par value per share (such authorized shares of common stock, together with any
subsequently authorized shares of common stock of Holdings, the “Holdings Common Stock”),
of which 1000 shares are issued and outstanding. All such outstanding shares have been duly and
validly issued, are fully paid and nonassessable and free of preemptive rights. As of the
Restatement Effective Date, except as set forth on Part A of Schedule X hereto, Holdings does not
have outstanding any securities convertible into or exchangeable for its capital stock or
outstanding any rights to subscribe for or to purchase, or any options for the purchase of, or any
agreement providing for the issuance (contingent or otherwise) of, or any calls, commitments or
claims of any character relating to, its capital stock or any stock appreciation or similar
rights.

          (b) On the Restatement Effective Date and after giving effect to the Transaction, all of
the Equity Interests of Intermediate Holdco are owned by Holdings and pledged pursuant to the U.S.
Pledge Agreement. Intermediate Holdco does not have outstanding any securities convertible into or
exchangeable for its Equity Interests or outstanding any rights to subscribe for or to purchase, or
any options for the purchase of, or any agreement providing for the issuance (contingent or
otherwise) of, or any calls, commitments or claims of any character relating to, its Equity
Interests or any equity appreciation or similar rights.

          (c) On the Restatement Effective Date and after giving effect to the Transaction, the
authorized capital stock of the U.S. Borrower shall consist of 1000 shares of common stock, $.001
par value per share, of which 1000 shares were issued and outstanding, owned by Intermediate Holdco
and delivered for pledge pursuant to the U.S. Pledge Agreement. All such outstanding shares have
been duly and validly issued, are fully paid and nonassessable and free of preemptive rights. The
U.S. Borrower does not have outstanding any securities convertible into or exchangeable for its
capital stock or outstanding any rights to subscribe for or to purchase, or any options for the
purchase of, or any agreement providing for the issuance (contingent or otherwise) of, or any
calls, commitments or claims of any character relating to, its capital stock or any stock
appreciation or similar rights.

          (d) On the Restatement Effective Date and after giving effect to the Transaction, the
authorized capital stock of the Bermuda Borrower shall consist of 2,319,640,170 shares of common
stock, $.10 par value per share, of which 2,319,640,170 shares are issued and outstanding and owned
indirectly by the Bermuda Partnership. All such outstanding shares have been duly and validly
issued, are fully paid and nonassessable and free of preemptive rights. The Bermuda Borrower does
not have outstanding any securities convertible into or exchangeable for

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its capital stock or outstanding any rights to subscribe for or to purchase, or any options for
the purchase of, or any agreement providing for the issuance (contingent or otherwise) of, or any
calls, commitments or claims of any character relating to, its capital stock or any stock
appreciation or similar rights.

          7.14 Subsidiaries. On and as of the Restatement Effective Date and after giving
effect to the Transaction, Holdings has no Subsidiaries other than Westlake Wellbeing Company LLC,
The California Wellbeing Institute, LLC and Intermediate Holdco and its Subsidiaries, and
Intermediate Holdco has no Subsidiaries other than those Subsidiaries listed on Schedule VII.
Schedule VII correctly sets forth, as of the Restatement Effective Date and after giving effect to
the Transaction, (i) the percentage ownership (direct and indirect) of Intermediate
Holdco in each class of capital stock or other Equity Interests of each of its Subsidiaries and
also identifies the direct owner thereof and (ii) the jurisdiction of organization of each such
Subsidiary. All outstanding shares of capital stock or other Equity Interests of each Subsidiary of
Intermediate Holdco have been duly and validly issued, are fully paid
and non-assessable and, in
the case of Non-Wholly Owned Subsidiaries of the U.S. Borrower, have been issued free of preemptive
rights. Except as set forth on Part B of Schedule X attached hereto, no Subsidiary of
Intermediate Holdco has outstanding any securities convertible into or exchangeable
for its capital stock or other Equity Interests or outstanding any right to subscribe for or to
purchase, or any options or warrants for the purchase of, or any agreement providing for the
issuance (contingent or otherwise) of or any calls, commitments or claims of any character relating
to, its capital stock or other Equity Interests or any stock appreciation or similar rights. Except
for the existing investments described on Schedule VI, as of the Restatement Effective Date,
neither Holdings nor any of its Subsidiaries owns or holds, directly or indirectly, any capital
stock or equity security of, or any other Equity Interests in, any Person other than its
Subsidiaries indicated on Schedule VII.

          7.15 Intellectual Property, etc. Each of Holdings and each of its Subsidiaries owns
or has the right to use all domestic and foreign patents, trademarks, permits, domain names,
service marks, trade names, copyrights, licenses, franchises, inventions, trade secrets,
proprietary information and know-how of any type, whether or not written (including, but not
limited to, rights in computer programs and databases) and formulas, or other rights with respect
to the foregoing, and has obtained assignments of all leases, licenses and other rights of whatever
nature, in each case necessary for the conduct of its business, without any known conflict with the
rights of others which, or the failure to obtain which, as the case may be, individually or in the
aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect.

          7.16 Compliance with Statutes; Agreements, etc. Each of Holdings and each of its Subsidiaries
is in compliance with (i) all applicable statutes, regulations, rules and orders of, and all
applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the
conduct of its business and the ownership of its property and (ii) all contracts and agreements to
which it is a party, except such non-compliances as have not had, and could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

          7.17 Environmental Matters. (a) Each of Holdings and each of its Subsidiaries has
complied with, and on the date of each Credit Event is in compliance with, all applicable
Environmental Laws and the requirements of any permits issued under such Environmental Laws

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and neither Holdings nor any of its Subsidiaries is liable for any material penalties, fines or
forfeitures for failure to comply with any of the foregoing. There are no pending or past or, to
the knowledge of any Senior Officer, threatened Environmental Claims against Holdings or any of
its Subsidiaries or any Real Property owned, leased or operated by Holdings or any of its
Subsidiaries (including any such claim arising out of the ownership, lease or operation by
Holdings or any of its Subsidiaries of any Real Property formerly owned, leased or operated by
Holdings or any of its Subsidiaries but no longer owned, leased or operated by Holdings or any of
its Subsidiaries). There are no facts, circumstances, conditions or occurrences on any Real
Property owned, leased or operated by Holdings or any of its Subsidiaries (including, to the
knowledge of a Senior Officer, any Real Property formerly owned, leased or operated by Holdings or
any of its Subsidiaries but no longer owned, leased or operated by Holdings or any of its
Subsidiaries) or on any property adjoining or in the vicinity of any such Real Property that would
reasonably be expected (i) to form the basis of an Environmental Claim against Holdings or any of
its Subsidiaries or any such Real Property or (ii) to cause any such Real Property to be subject
to any restrictions on the ownership, occupancy, use or transferability of such Real Property by
Holdings or any of its Subsidiaries under any applicable Environmental Law.

          (b) Hazardous Materials have not at any time been generated, used, treated or stored on, or
transported to or from, any Real Property owned, leased or operated by Holdings or any of its
Subsidiaries except in compliance with all applicable Environmental Laws and in connection with the
operation, use and maintenance of such Real Property by Holdings’ or such Subsidiary’s business.
Hazardous Materials have not at any time been Released on or from any Real Property owned, leased
or operated by Holdings or any of its Subsidiaries or by any person acting for or under contract to
Holdings or any of its Subsidiaries, or to the knowledge of any Credit Agreement Party, by any
other Person in respect of Real Property owned, leased or operated by Holdings or any of its
Subsidiaries (including, to the knowledge of any Credit Agreement Party, any Real Property owned,
leased or operated by Holdings or any of its Subsidiaries but no longer owned, leased or operated
by Holdings or any of its Subsidiaries), except in compliance with all applicable Environmental
Laws in all material respects.

          (c) Notwithstanding anything to the contrary in this Section 7.17, the representations
made in this Section 7.17 shall only be untrue if the aggregate effect of all conditions, failures,
noncompliances, Environmental Claims, Hazardous Materials, Releases and presence of underground
storage tanks, in each case of the types described above, has had, or could reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect.

          7.18 Properties. All Real Property (other than Real Property with an individual Fair
Market Value less than $1,000,000 as of the Restatement Effective Date) and vessels owned by
Holdings or any of its Subsidiaries, and all material leaseholds leased by Holdings or any of its
Subsidiaries, in each case as of the Restatement Effective Date and after giving effect to the
Transaction, and the nature of the interest therein, is correctly set forth in Schedule III (and,
to the extent that any such Real Property (or any portion thereof) constitutes “Principal Property”
(as defined in any of the Existing Senior Note Indentures), Schedule III correctly identifies such
Real Property (or the applicable portion thereof) as “Principal Property”). Each of Holdings and
each of its Subsidiaries has good and marketable title to, or a validly subsisting leasehold
interest in, all material properties owned or leased by it, including all Real Property and vessels
reflected

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in Schedule III and in the financial statements (including
the Pro Forma Financial
Statements) referred to in Section 7.10(b) (except (x) such properties sold in the ordinary course
of business since the dates of the respective financial statements referred to therein, (y) such
properties otherwise sold as permitted by the terms of this Agreement and (z) such Real Properties
owned by the U.S. Borrower or any of its Subsidiaries which may be subject to immaterial defects of
title which do not impair the use of such Real Property or the business conducted by the U.S.
Borrower or such Subsidiary thereon), free and clear of all Liens, other than Permitted Liens.

          7.19 Labor Relations. Neither Holdings nor any of its Subsidiaries is engaged in any
unfair labor practice that has had, or could reasonably be expected to have, either individually or
in the aggregate, a Material Adverse Effect. There is (i) no unfair labor practice complaint
pending against Holdings or any of its Subsidiaries or, to the knowledge of any Senior Officer,
threatened against any of them, before the National Labor Relations Board or any similar foreign
tribunal or agency, and no grievance or arbitration proceeding arising out of or under any
collective bargaining agreement is so pending against Holdings or any of its Subsidiaries or, to
the knowledge of any Senior Officer, threatened against any of them, (ii) no strike, labor dispute,
slowdown or stoppage pending against Holdings or any of its Subsidiaries or, to the knowledge of
any Senior Officer, threatened against Holdings or any of its Subsidiaries and (iii) no union
representation question existing with respect to the employees of Holdings or any of its
Subsidiaries and no union organizing activities are taking place, except (with respect to any
matter specified in clause (i), (ii) or (iii) above, either individually or in the aggregate) such
as has not had, or could reasonably be expected to have, a Material Adverse Effect.

          7.20 Tax Returns and Payments. Holdings and each of its Subsidiaries has timely
filed (including applicable extensions) with the appropriate taxing authority, all material
returns, statements, forms and reports for taxes (the “Returns”) required to be filed by or with
respect to the income, properties or operations of Holdings and each of its Subsidiaries. The
Returns accurately reflect in all material respects all liability for taxes of Holdings and each of
its Subsidiaries as a whole for the periods covered thereby. Holdings and each of its Subsidiaries
have paid all material taxes payable by them other than those contested in good faith and
adequately disclosed and for which adequate reserves have been established in accordance with U.S.
GAAP. Except as set forth on Schedule XVI hereto, there is no action, suit, proceeding,
investigation, audit, or claim now pending or, to the knowledge of any Senior Officer, threatened
by any authority regarding any taxes relating to Holdings and each of its Subsidiaries. Except as
set forth on Schedule XVI hereto, neither Holdings nor any of its Subsidiaries has entered into an
agreement or waiver or been requested to enter into an agreement or waiver extending any statute of
limitations relating to the payment or collection of taxes of Holdings or any of its Subsidiaries,
or is aware of any circumstances that would cause the taxable years or other taxable periods of
Holdings or any of its Subsidiaries not to be subject to the normally applicable statute of
limitations.

          7.21 Scheduled Existing Indebtedness. Schedule IV sets forth a true and complete
list of all Indebtedness of Holdings and its Subsidiaries as of the Restatement Effective Date and
which is to remain outstanding after giving effect to the Transaction and the incurrence of Loans
and ABL Loans on such date (exclusive of (i) Indebtedness pursuant to this Agreement and the other
Credit Documents, (ii) Indebtedness pursuant to the ABL Credit Agreement and the other ABL Credit
Documents, (iii) Indebtedness pursuant to the Existing Senior Notes

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Documents and the Intermediate Holdco Credit Documents, (iv) intercompany Indebtedness pursuant to
the Intercompany Distribution Transactions, (v) Indebtedness of Holdings and/or any of its
Subsidiaries of the types described in clauses (viii), (xiii) and (xviii) of Section 9.04(b), (vi)
Synthetic Lease obligations arising under the lease entered into in connection with the
Sale-Leaseback Transaction, and (vii) immaterial Contingent Obligations of Subsidiaries of the U.S.
Borrower that represent guaranties of obligations other than Indebtedness), in each case showing
the aggregate principal amount thereof (and the aggregate amount of any undrawn commitments with
respect thereto) and the name of the respective borrower and any other entity which directly or
indirectly guarantees such debt. Part A of Schedule IV lists all Indebtedness as described in the
immediately preceding sentence which is owed to Persons other than Holdings or any of its
Subsidiaries (after giving effect to the consummation of the Transaction) (with all such
Indebtedness being herein called “Third Party Scheduled Existing Indebtedness”) and Part B
of Schedule IV lists all Indebtedness as described in the immediately preceding sentence which is
owed to Holdings and its Subsidiaries as of February 25, 2006 (with all of such Indebtedness being
herein called “Intercompany Scheduled Existing Indebtedness”).

          7.22 Insurance. Set forth on Schedule VIII hereto is a true, correct and complete
summary of all insurance maintained by Holdings and its Subsidiaries on and as of the Restatement
Effective Date, with the amounts insured (and any deductibles) set forth therein.

          7.23 Transaction. At the time of consummation thereof, each element of the
Transaction shall have been consummated in all material respects in accordance with the terms of
the relevant Documents therefor and all applicable laws. At the time of consummation thereof, all
consents and approvals of, and filings and registrations with, and all other actions in respect of,
all governmental agencies, authorities or instrumentalities required in order to make or consummate
each element of the Transaction in accordance with the terms of the relevant Documents therefor and
all applicable laws have been obtained, given, filed or taken and are or will be in full force and
effect (or effective judicial relief with respect thereto has been obtained). Additionally, there
does not exist any judgment, order or injunction prohibiting or imposing material adverse
conditions upon any element of the Transaction, the occurrence of any Credit Event, or the
performance by Holdings or any of its Subsidiaries of their respective obligations under the
Documents and in accordance with all applicable laws.

          7.24 Special Purpose Corporations. (a) Holdings has no significant assets (other
than (v) cash and Cash Equivalents held by Holdings representing proceeds from the Wellbeing
Project Financing, (w) the Equity Interests of Intermediate Holdco, Westlake Wellbeing Company LLC
and The California Wellbeing Institute, LLC, (x) after the issuance thereof, the Equity Interests
of each of the Unrestricted Wellbeing Joint Ventures, (y) Intercompany Notes evidencing
intercompany loans permitted to be made by Holdings pursuant to Section 9.05 and (z) immaterial
assets used for the performance of those activities permitted to be performed by Holdings pursuant
to Section 9.0l(b)) or liabilities (other than under this Agreement and the other Documents
(including the ABL Credit Documents) to which it is a party (including the Wellbeing Project
Financing Documents), those liabilities permitted to be incurred by Holdings pursuant to Section
9.01(b) and, as and when issued from time to time in accordance with the terms of this Agreement,
under Shareholder Subordinated Notes).

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          (b) The Bermuda Partnership has no significant assets (other than Equity Interests of its
Subsidiaries and the immaterial assets used for the performance of those activities permitted to be
performed by it pursuant to Section 9.0l(c)) or liabilities (other than under this Agreement and
the other Credit Documents to which it is a party and those liabilities permitted to be incurred by
it pursuant to Section 9.01(c)); provided that notwithstanding the foregoing, the Bermuda
Partnership shall be permitted to (i) provide treasury, accounting, logistic and other
administrative support services to its Affiliates on an arm’s length basis and hold and retain cash
earned in connection with the provision of such services and (ii) receive and hold additional cash
and Cash Equivalents from its Subsidiaries and/or Affiliates, so long as, in the case of this
clause (ii), same are promptly (and in any event within one Business Day of receipt thereof)
loaned, distributed and/or contributed, subject to Section 9.01(d), to its Subsidiaries and/or
Affiliates in accordance with the requirements of Section 9.05 of this Agreement.

          (c) Intermediate Holdco has no significant assets (other than the Equity Interests of the
U.S. Borrower and Corporate Holdco, Intercompany Notes evidencing intercompany loans
permitted to be made by Intermediate Holdco pursuant to Section 9.05 and immaterial assets used for
the performance of those activities permitted to be performed by Intermediate Holdco pursuant to
Section 9.0l(j)) or liabilities (other than under this Agreement and the other Documents to which
it is a party (including the Intermediate Holdco Credit Documents and the ABL Credit Documents) and
those liabilities permitted to be incurred by Intermediate Holdco pursuant to Section 9.01(j)).

          (d) Corporate Holdco has no significant assets (other than immaterial assets used for the
performance of those activities permitted to be performed by Corporate Holdco pursuant to Section
9.01(k)) or liabilities (other than under this Agreement and the other Documents to which it is a
party (including the Intermediate Holdco Credit Documents and the ABL Credit Documents) and those
liabilities permitted to be incurred by Corporate Holdco pursuant to Section 9.0l(k)).

          7.25 Subordination. (a) The subordination provisions contained in the Existing Senior
Notes Documents and, on and after the execution and delivery thereof, the Permitted Senior Notes
Documents and the Permitted Refinancing Senior Notes Documents are enforceable against (i) the
U.S. Subsidiary Guarantors party thereto, (ii) in the case of any Permitted Senior Notes Document
or Permitted Refinancing Senior Notes Document providing for subordination of the U.S. Borrower’s
obligations thereunder, the U.S. Borrower and (iii) the holders of the Existing Senior Notes, the
Permitted Senior Notes or the Permitted Refinancing Senior Notes, as the case may be. All
Guaranteed Obligations (as defined in the U.S. Subsidiaries Guaranty) of the U.S. Subsidiary
Guarantors and, in the case of any Permitted Senior Notes Document or Permitted Refinancing Senior
Notes Document providing for subordination of the U.S. Borrower’s obligations thereunder, all
Obligations of the Borrower under the Credit Documents to which it is a party, are within the
definitions of “Guarantor Senior Debt” and “Designated Guarantor Senior Debt” or “Senior Debt” and
“Designated Senior Debt”, as applicable, included in such subordination provisions.

          (b) On and after the execution and delivery of the Shareholder Subordinated Notes, the
subordination provisions contained therein will be enforceable against Holdings and the holders of
the Shareholder Subordinated Notes, and all Obligations of Holdings hereunder

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and under the other Credit Documents to which it is a party are within the definitions of “Senior
Debt” included in such subordination provisions.

          Section 8. Affirmative Covenants. Each Credit Agreement Party hereby covenants and
agrees that as of the Restatement Effective Date and thereafter for so long as this Agreement is
in effect and until the Total Commitment and all Letters of Credit and Bank Guaranties have been
terminated, and the Loans, Notes and Unpaid Drawings and Unreimbursed Payments, together with
interest, Fees and all other Obligations (other than any indemnities described in Section 13.13
which are not then due and payable) incurred hereunder, are paid in full:

          8.01 Information Covenants. Holdings or the U.S. Borrower will furnish, or will cause
to be furnished, to the Administrative Agent (who shall furnish to each Lender):

     (a) Quarterly Financial Statements. Within 3 Business Days following the 45th
day after the close of the first three quarterly accounting periods in each Fiscal Year of
the U.S. Borrower, (i) (x) the consolidated balance sheet of the U.S. Borrower and its
Consolidated Subsidiaries as at the end of such quarterly accounting period and the related
consolidated statements of income and of cash flows for such quarterly accounting period and
for the elapsed portion of the Fiscal Year ended with the last day of such quarterly
accounting period, in each case setting forth comparative figures for the corresponding
quarterly accounting period in the prior Fiscal Year and the budgeted figures for such
quarterly period as set forth in the respective financial projections theretofore delivered
pursuant to Section 8.01(c), (y) the consolidated balance sheet of each Business Segment as
at the end of such quarterly accounting period and the related consolidated statement of
income of such Business Segment for such quarterly accounting period and for the elapsed
portion of the Fiscal Year ended with the last day of such quarterly accounting period, in
each case setting forth comparative figures for the corresponding quarterly accounting
period in the prior Fiscal Year, and (z) the consolidated balance sheets of the U.S. Dole
Group and the Non-U.S. Dole Group as at the end of such quarterly accounting period and the
related consolidated statements of income of each such group for such quarterly accounting
period and for the elapsed portion of the Fiscal Year ended with the last day of such
quarterly accounting period, all of the foregoing of which shall be in reasonable detail
and, in the case of the financial statements described in subclause (x) above, be certified
by the senior financial officer or other Authorized Officer of Holdings or the U.S. Borrower
that they fairly present in all material respects in accordance with U.S. GAAP the financial
condition of the U.S. Borrower and its Consolidated Subsidiaries as of the dates indicated
and the results of their operations and/or changes in their cash flows for the periods
indicated, subject to normal year-end audit adjustments and the absence of footnotes and
(ii) management’s discussion and analysis of the important operational and financial
developments during such quarterly accounting period; provided, however, that for
any quarterly accounting period for which the U.S. Borrower has filed a Form 10-Q Report
with the SEC and the Chief Financial Officer or other Authorized Officer of Holdings has
delivered to the Administrative Agent a certificate certifying that the Parent Business
Condition has been satisfied for such quarterly accounting period, the furnishing of (I) the
U.S. Borrower’s Form 10-Q Report filed with the SEC for such quarterly accounting period and
(II) the

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consolidated balance sheet of each Business Segment as at the end of such quarterly accounting
period and the related consolidated statement of income of such Business Segment for such
quarterly accounting period, shall satisfy the requirements of subclause (i) and (ii) of this
Section 8.01 (a).

     (b) Annual Financial Statements. Within 3 Business Days following the 90th day after
the close of each Fiscal Year of the U.S. Borrower (or, in the case of the Fiscal Year of the U.S.
Borrower ended December 31, 2005, on the date on which the Credit Agreement Parties shall have
filed a Form 10-K Report with the SEC for such Fiscal Year (and, in any event, no later than April
28, 2006)), (i) (x) the consolidated balance sheet of the U.S. Borrower and its Consolidated
Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income
and stockholders’ equity and of cash flows for such Fiscal Year and setting forth comparative
consolidated figures for the preceding Fiscal Year and comparable budgeted figures for such Fiscal
Year as set forth in the respective financial projections delivered pursuant to Section 8.01(c),
(y) the consolidated balance sheet of each Business Segment as at the end of such Fiscal Year and
the related consolidated statements of income of each Business Segment for such Fiscal Year and
setting forth comparative consolidated figures for the preceding Fiscal Year and (z) the
consolidated balance sheet of each of the U.S. Dole Group and the Non-U.S. Dole Group as at the end
of such Fiscal Year and the related consolidated statements of income of each such group for such
Fiscal Year and setting forth comparative consolidated figures for the preceding Fiscal Year, (ii)
in the case of the financial statements referred to in subclause (i)(x) above (except for such
comparable budgeted figures), together with a certification by Deloitte & Touche LLP or such other
independent certified public accountants of recognized national standing as shall be acceptable to
the Administrative Agent, in each case to the effect that (I) such statements fairly present in all
material respects the financial condition of the U.S. Borrower and its Consolidated Subsidiaries as
of the dates indicated and the results of their operations and changes in financial position for
the periods indicated in conformity with U.S. GAAP applied on a basis consistent with prior years
and (II) in the course of its regular audit of the business of the U.S. Borrower and its
Consolidated Subsidiaries, which audit was conducted in accordance with U.S. GAAP (and made without
qualification or expression of uncertainty, in each case as to going concern), no Default or Event
of Default which has occurred and is continuing has come to their attention or, if such a Default
or an Event of Default has come to their attention, a statement as to the nature thereof and (iii)
management’s discussion and analysis of the important operational and financial developments during
such Fiscal Year; provided, however, that for any Fiscal Year for which the U.S. Borrower
has filed a Form 10-K Report with the SEC and the Chief Financial Officer or other Authorized
Officer of Holdings has delivered to the Administrative Agent a certificate (x) certifying that the
Parent Business Condition has been satisfied during such Fiscal Year and (y) setting forth the
aggregate amount of Dividends paid to Intermediate Holdco by the U.S. Borrower during such Fiscal
Year pursuant to Sections 9.06(iii), (iv), (v) and (ix), the furnishing of (I) the U.S. Borrower’s
Form 10-K Report filed with the SEC for such Fiscal Year and (II) the consolidated balance sheet of
each Business Segment as at the end of such Fiscal Year and the related consolidated statement of
income of such Business Segment for such Fiscal Year, shall satisfy the requirements of subclause
(i) and (iii) of this Section 8.01(b).

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     (c) Financial Projections, etc. Not more than 60 days after the
commencement of each Fiscal Year of the U.S. Borrower, financial projections in form reasonably
satisfactory to the Administrative Agent (including projected statements of income, sources and
uses of cash and balance sheets, taking into account any Significant Asset Sales intended to be
consummated during such Fiscal Year) prepared by the U.S. Borrower (i) for each of the four Fiscal
Quarters of such Fiscal Year prepared in detail and (ii) for each of the immediately succeeding two
Fiscal Years prepared in summary form, in each case, on a consolidated basis, for the U.S. Borrower
and its Consolidated Subsidiaries and setting forth, with appropriate discussion, the principal
assumptions upon which such financial projections are based.

     (d) Officer’s Certificates. At the time of the delivery of the financial statements
provided for in Sections 8.01(a) and (b) for each Fiscal Year ended on or after the Restatement
Effective Date, a certificate of the Chief Financial Officer or other Authorized Officer of the
U.S. Borrower to the effect that no Default or Event of Default exists or, if any Default or Event
of Default does exist, specifying the nature and extent thereof, which certificate shall (i) if
delivered in connection with the financial statements required by Section 8.01(a) or (b), set forth
in reasonable detail (x) the calculations required to establish whether Holdings and its
Subsidiaries were in compliance with the provisions of Sections 3.03(e) and (f), 4.02, 9.02, 9.04,
9.05 and 9.06 and (y) the calculation of the Senior Secured Leverage Ratio as at the last day of
the respective Fiscal Quarter or Fiscal Year of the U.S. Borrower, as the case may be, (ii) if
delivered with the financial statements required by Section 8.01(b), set forth in reasonable detail
(x) the amount of (and the calculations required to establish the amount of) Excess Cash Flow and
Adjusted Excess Cash Flow for the respective Excess Cash Flow Payment Period, (y) the amount
required to be paid pursuant to Section 4.02(f) on the relevant Excess Cash Payment Date and (z)
the calculation of the Total Leverage Ratio as at the last day of the respective Fiscal Year of the
U.S. Borrower, and (iii) certify that there have been no changes to Annexes A through G of the U.S.
Security Agreement, Annexes A through G of the U.S. Pledge Agreement and the annexes or schedules
to any other Security Document, in each case since the Restatement Effective Date or, if later,
since the date of the most recent certificate delivered pursuant to this Section 8.01(d), or if
there have been any such changes, a list in reasonable detail of such changes (but, in each case
with respect to this clause (iii), only to the extent that such changes are required to be reported
to the Collateral Agent pursuant to the terms of such Security Documents) and whether the Credit
Agreement Parties and the other Credit Parties have otherwise taken all actions required to be
taken by them pursuant to such Security Documents in connection with any such changes.

     (e) Notice of Default or Litigation. Promptly, and in any event within five Business
Days after a Senior Officer obtains knowledge thereof, notice of (i) the occurrence of any event
which constitutes a Default or an Event of Default, which notice shall specify the nature and
period of existence thereof and what action Holdings or such Subsidiary proposes to take with
respect thereto, (ii) any litigation or proceeding pending or threatened (x) against Holdings or
any of its Subsidiaries which has had, or could reasonably be expected to have, a Material Adverse
Effect or (y) with respect to any ABL Credit Document, any Existing Senior Notes Document, any
Intermediate Holdco Credit

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Document, any Wellbeing Project Financing Document or, on and after the execution and delivery
thereof, any Permitted Senior Notes Document or any Permitted Refinancing Senior Notes Document,
(iii) any Material Governmental Investigation pending or threatened against Holdings or any of its
Subsidiaries and (iv) any other event, change or circumstance which has had, or could reasonably
be expected to have, a Material Adverse Effect.

     (f) Management Letters. Promptly upon receipt thereof, a copy of any “management
letter” submitted to Holdings or any of its Subsidiaries by its independent accountants in
connection with any annual, interim or special audit made by them of the financial statements of
Holdings or any of its Subsidiaries and management’s responses thereto.

     (g) Environmental Matters. Within five Business Days after a Senior Officer obtains
knowledge of any of the following (but only to the extent that any of the following, either
individually or in the aggregate, has had, or could reasonably be expected to have, (a) a Material
Adverse Effect or (b) a remedial cost to Holdings or any of its Subsidiaries in excess of
$15,000,000), written notice of:

     (i) any pending or threatened Environmental Claim against Holdings or any of its
Subsidiaries or any Real Property owned, leased or operated by Holdings or any of its
Subsidiaries;

     (ii) any condition or occurrence on any Real Property owned, leased or operated by
Holdings or any of its Subsidiaries that (x) results in noncompliance by Holdings or any of
its Subsidiaries with any applicable Environmental Law or (y) could reasonably be
anticipated to form the basis of an Environmental Claim against Holdings or any of its
Subsidiaries or any such Real Property;

     (iii) any condition or occurrence on any Real Property owned, leased or operated by
Holdings or any of its Subsidiaries that could reasonably be anticipated to cause such Real
Property to be subject to any restrictions on the ownership, lease, occupancy, use or
transferability by Holdings or such Subsidiary, as the case may be, of its interest in such
Real Property under any Environmental Law; and

     (iv) the taking of any removal or remedial action in response to the actual or
alleged presence of any Hazardous Material on any Real Property owned, leased or operated
by Holdings or any of its Subsidiaries.

All such notices shall describe in reasonable detail the nature of the claim, investigation,
condition, occurrence or removal or remedial action and Holdings’ response or proposed response
thereto. In addition, the U.S. Borrower agrees to provide the Lenders (by delivery to the
Administrative Agent) with copies of such detailed reports relating to any of the matters set forth
in clauses (i)-(iv) above as may reasonably be requested by the Administrative Agent or any Lender.

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     (h) Reports. Within 3 Business Days following transmission thereof, copies of any
filings and registrations with, and reports to, the SEC by Holdings or any of its Subsidiaries and
copies of all financial statements, proxy statements, notices and reports as Holdings or any of
its Subsidiaries shall send generally to the holders of Indebtedness or (following the public
issuance of Equity Interests of Holdings or any of its Subsidiaries) their Equity Interests in
their capacity as such holders (to the extent not theretofore delivered to the Lenders pursuant to
this Agreement).

     (i) New Subsidiaries: etc. Within 3 Business Days after the 45th day following the
close of each of the first three Fiscal Quarters of each Fiscal Year of Holdings and within 3
Business Days after the 45th day following the close of each Fiscal Year of Holdings, (w) a list
showing each Material Foreign Subsidiary of Holdings which has not theretofore become party to the
Foreign Subsidiaries Guaranty or any Security Document, (x) a list showing each Subsidiary of
Holdings established, created or acquired during the respective Fiscal Quarter or Fiscal Year (and
specifying whether such Subsidiary is a Material Foreign Subsidiary), and each Subsidiary which has
had any Equity Interests transferred during the respective Fiscal Quarter or Fiscal Year (in each
case describing in reasonable detail the respective transfer of Equity Interests), in each case
naming the direct owner of all Equity Interests in such Subsidiary and describing such Equity
Interests in reasonable detail, and certifying that each such Subsidiary, and each Credit Party
which owns any Equity Interests therein, has taken all actions, if any, required pursuant to
Sections 8.11 and 9.11 and the relevant Security Documents and certifying Holdings’ compliance with
the provisions of Section 8.18, (y) a list of each Domestic Subsidiary of Holdings, if any, which
has not been transferred to Holdings or one or more Qualified U.S. Obligors pursuant to the
requirements of Section 8.18(a) (by virtue of the first proviso to the second sentence of said
Section 8.18(a)), and specifically stating the reasons therefor and (z) a list of each Foreign
Subsidiary organized under any Qualified Non-U.S. Jurisdiction, if any, which has not been
transferred to one or more Qualified Non-U.S. Obligors pursuant to the requirements of Section
8.18(b) (by reason of the first proviso to the first sentence of said Section 8.18(b)), and
specifically stating the reasons therefor.

     (j) Annual Meetings with Lenders. At the request of the Administrative Agent,
Holdings shall, within 120 days after the close of each Fiscal Year of the U.S. Borrower, hold a
meeting (which may be by conference call or teleconference), at a time and place selected by
Holdings and reasonably acceptable to the Administrative Agent, with all of the Lenders that
choose to participate, to review the financial results of the previous Fiscal Year and the
financial condition of the U.S. Borrower and its Subsidiaries and the budgets presented for the
current Fiscal Year of the U.S. Borrower and its Subsidiaries.

     (k) Notice of Commitment Reductions and Mandatory Repayments. On or prior to the date
of any reduction to Commitments or any mandatory repayment of outstanding Term Loans pursuant to
Sections 4.02(c) through (f), inclusive, Holdings or the U.S. Borrower shall provide written
notice of the amount of the respective reduction or repayment, as the case may be, to the
Commitments or the outstanding Term Loans, as applicable, and the calculations therefor (in
reasonable detail).

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     (l) Hedging Agreements. At the time of the delivery of the financial
statements provided for in Section 8.01(b), a schedule of all Interest Rate Protection
Agreements and Other Hedging Agreements entered into by Holdings or any of its Subsidiaries
with any Lender and/or any of its affiliates.

     (m) Other Information. From time to time, such other information or documents
(financial or otherwise) with respect to Holdings or its Subsidiaries as the Administrative
Agent or any Lender may reasonably request; provided that the tax opinion delivered
by Deloitte & Touche LLP referenced in Section 8.01(n) of the Original Credit Agreement
shall only be made available for review by any Lender requesting same at the headquarters
of Holdings.

     (n) Compliance with Section 13.27. On or prior to the 90th day after the
Restatement Effective Date (or such later date as the Administrative Agent shall
determine), an appropriate officer in the legal department of Holdings or the U.S. Borrower
shall provide a written certification of compliance with all post-closing requirements set
forth in Section 13.27 (including those actions required pursuant to Schedule XVIII),
specifically listing any items where such compliance has not yet occurred (and, with
respect to any such items where compliance has not yet occurred, stating the time frame in
which it is expected that such actions shall be taken and the reasons such actions have not
been completed). Without excusing any failure to comply with Section 13.27, if the
certification provided above does not establish complete compliance with all requirements
of Section 13.27 (and Schedule XVIII), Holdings or the U.S. Borrower shall cause an
appropriate officer in its legal department to furnish monthly updates thereafter, in each
case showing in reasonable detail all compliances (and any non-compliances) with the
requirements of Section 13.27. Such certifications shall no longer be required after the
date upon which Holdings or the U.S. Borrower certifies that all actions required be taken
pursuant to Section 13.27 (and Schedule XVIII) have been completed.

          8.02 Books, Records and Inspections. Each Credit Agreement Party will, and will cause
each of its Subsidiaries to, keep proper books of record and accounts in which full, true and
correct entries which permit the preparation of financial statements in accordance with U.S. GAAP
and which conform to all requirements of law, shall be made of all dealings and transactions in
relation to its business and activities. Each Credit Agreement Party will, and will cause each of
its Subsidiaries to, permit officers and designated representatives of any Agent or, if any
Specified Default or any Event of Default then exists, any Lender, to visit and inspect, under
guidance of officers of such Credit Agreement Party or such Subsidiary, any of the properties of
such Credit Agreement Party or such Subsidiary, and to examine the books of account of such Credit
Agreement Party or such Subsidiary and discuss the affairs, finances and accounts of such Credit
Agreement Party or such Subsidiary with, and be advised as to the same by, its and their officers
and independent accountants, all upon reasonable prior notice and at such reasonable times and
intervals and to such reasonable extent as such Agent or such Lender may reasonably request.

          8.03 Insurance. (a) Each Credit Agreement Party will, and will cause each of its
Subsidiaries to, (i) maintain, with financially sound and reputable insurance companies,

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insurance on all its property in at least such amounts and against at least such risks as is
consistent and in accordance with industry practice and (ii) furnish to the Administrative Agent,
upon request by the Administrative Agent or any Lender, full information as to the insurance
carried. Such insurance shall in any event include physical damage insurance on all real and
personal property (whether now owned or hereafter acquired) on an all risk basis and business
interruption insurance.

          (b) Each Credit Agreement Party will, and will cause each of its Subsidiaries to, at all times
keep the respective property of such Credit Agreement Party and its Subsidiaries insured in favor
of the Collateral Agent, and all policies or certificates with respect to such insurance (and any
other insurance maintained by, or on behalf of, any Credit Agreement Party or any of its
Subsidiaries) (i) shall be endorsed to the Collateral Agent’s satisfaction for the benefit of the
Collateral Agent (including, without limitation, by naming the Collateral Agent as certificate
holder, mortgagee and loss payee with respect to real property, certificate holder and loss payee
with respect to personal property, additional insured with respect to general liability and
umbrella liability coverage and certificate holder with respect to workers’ compensation
insurance), (ii) shall state that such insurance policies shall not be canceled or materially
changed without at least 30 days’ prior written notice thereof by the respective insurer to the
Collateral Agent and (iii) shall be deposited with the Collateral Agent.

          (c) If any Credit Agreement Party or any of its Subsidiaries shall fail to maintain all
insurance in accordance with this Section 8.03, or if any Credit Agreement Party or any of its
Subsidiaries shall fail to so name the Collateral Agent as an additional insured, mortgagee or loss
payee, as the case may be, or so deposit all certificates with respect thereto, the Administrative
Agent and/or the Collateral Agent shall have the right (but shall be under no obligation), upon ten
Business Days’ notice to Holdings or the U.S. Borrower, to procure such insurance, and the Credit
Agreement Parties agree jointly and severally to reimburse the Administrative Agent or the
Collateral Agent, as the case may be, for all costs and expenses of procuring such insurance.

          8.04 Payment of Taxes. Each Credit Agreement Party will pay and discharge, and will
cause each of its Subsidiaries to pay and discharge, all taxes, assessments and governmental
charges or levies imposed upon it or upon its income or profits, or upon any properties belonging
to it, in each case on a timely basis, and all lawful claims which, if unpaid, might become a lien
or charge upon any properties of the Credit Agreement Parties or any of their Subsidiaries not
otherwise permitted under Section 9.03(i); provided that no Credit Agreement Party or any
of its Subsidiaries shall be required to pay any such tax, assessment, charge, levy or claim which
is being contested in good faith and by proper proceedings if it has maintained adequate reserves
with respect thereto in accordance with U.S. GAAP.

          8.05 Existence; Franchises. Each Credit Agreement Party will do, and will cause each
of its Subsidiaries to do, or cause to be done, all things necessary to preserve and keep in full
force and effect its existence and its material rights, franchises, authorities to do business,
licenses, certifications, accreditations and patents; provided, however, that nothing in
this Section 8.05 shall prevent (i) sales of assets and other transactions by Holdings or any of
its Subsidiaries in accordance with Section 9.02, (ii) the withdrawal by Holdings or any of its
Subsidiaries of its qualification as a foreign corporation, partnership or limited liability
company,

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as the case may be, in any jurisdiction where such withdrawal could not, either individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect or (iii) the dissolution of
the Excluded Domestic Subsidiary or any Excluded Foreign Subsidiary.

          8.06 Compliance with Statutes; etc. (a) Each Credit Agreement Party will, and will
cause each of its Subsidiaries to, comply with all applicable statutes, regulations and orders of,
and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in
respect of the conduct of its business and the ownership of its property, except for such
noncompliances as, individually or in the aggregate, have not had, and could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

          (b) Within 5 Business Days after each Credit Agreement Party is required by applicable law,
statute, rule or regulation, such Credit Agreement Party shall file (or cause to be filed) with
the SEC all reports, financial information and certifications required by applicable law, statute,
rule or regulation.

          8.07 Compliance with Environmental Laws. (a) (i) Each Credit Agreement Party will
comply, and will cause each of its Subsidiaries to comply, in all material respects with all
Environmental Laws applicable to the ownership or use of its Real Property and vessels now or
hereafter owned, leased or operated by such Credit Agreement Party or any of its Subsidiaries, will
promptly pay or cause to be paid all costs and expenses incurred in connection with such
compliance, and will keep or cause to be kept all such Real Property and vessels free and clear of
any Liens imposed pursuant to such Environmental Laws and (ii) neither any Credit Agreement Party
nor any of its Subsidiaries will generate, use, treat, store, Release or dispose of, or permit the
generation, use, treatment, storage, Release or disposal of, Hazardous Materials on any Real
Property or vessels owned, leased or operated by such Credit Agreement Party or any of its
Subsidiaries, or transport or permit the transportation of Hazardous Materials to or from any such
Real Property, except as required in the ordinary course of business of Holdings and its
Subsidiaries as conducted on the Original Effective Date and as allowed by (and in compliance with)
applicable law or regulation and except for any failures to comply with the requirements specified
in clause (i) or (ii) above, which, either individually or in the aggregate, have not had, and
could not reasonably be expected to have, a Material Adverse Effect. If Holdings or any of its
Subsidiaries, or any tenant or occupant of any Real Property or vessel owned, leased or operated by
Holdings or any of its Subsidiaries, causes or permits any intentional or unintentional act
or omission resulting in the presence or Release of any Hazardous Material (except in compliance
with applicable Environmental Laws), each Credit Agreement Party agrees to undertake, and/or to
cause any of its Subsidiaries, tenants or occupants to undertake, at their sole expense, any clean
up, removal, remedial or other action required pursuant to Environmental Laws to remove and clean
up any Hazardous Materials from any Real Property or vessel except where the failure to do so has
not had, and could not reasonably be expected to have, a Material Adverse Effect.

          (b) At the written request of the Administrative Agent or the Required Lenders, which request
shall specify in reasonable detail the basis therefor (which may not simply be a desire for
periodic review), at any time and from time to time, the Credit Agreement Parties will provide, at
their sole cost and expense, an environmental site assessment report concerning any Real Property
now or hereafter owned, leased or operated by Holdings or any of

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its Subsidiaries, prepared by an environmental consulting firm reasonably approved by the
Administrative Agent, addressing the matters which gave rise to such request and estimating the
potential costs of any removal, remedial or other corrective action in connection with any such
matter. If a Credit Agreement Party fails to provide the same within 45 days after such request
was made, the Administrative Agent may order the same, and the Credit Agreement Parties shall
grant and hereby do grant, to the Administrative Agent and the Lenders and their agents, access to
such Real Property and specifically grant the Administrative Agent and the Lenders and their
agents an irrevocable non-exclusive license, subject to the right of tenants, to undertake such an
assessment, all at the Credit Agreement Parties’ joint and several expense.

          8.08 ERISA. As soon as possible and, in any event, within twenty (20) Business Days
after Holdings, any Subsidiary of Holdings or any ERISA Affiliate knows or has reason to know of
the occurrence of any of the following, Holdings will deliver to the Administrative Agent written
notice of the chief financial officer, vice president of human resources or other Authorized
Officer of the U.S. Borrower setting forth, to the extent known, and in reasonable detail, such
occurrence and the action, if any, that Holdings, such Subsidiary or such ERISA Affiliate is
required or proposes to take, together with any notices required or proposed to be given to or
filed by Holdings, such Subsidiary, the Plan administrator or such ERISA Affiliate to or with, the
PBGC or any other governmental agency, or a Plan or Multiemployer Plan participant, and any notices
received by Holdings, such Subsidiary or ERISA Affiliate from the PBGC or other governmental agency
or a Plan or Multiemployer Plan participant or the Plan administrator with respect thereto: that a
Reportable Event has occurred (except to the extent that Holdings has previously delivered to the
Administrative Agent a notice (if any) concerning such event pursuant to the next clause hereof);
that a contributing sponsor (as defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title
IV of ERISA is subject to the advance reporting requirement of PBGC Regulation Section 4043.61
(without regard to subparagraph (b)(l) thereof), and an event described in subsection .62, .63,
..64, .65, .66, .67 or .68 of PBGC Regulation Section 4043 is reasonably expected to occur with
respect to such Plan within the following 30 days; that an accumulated funding deficiency, within
the meaning of Section 412 of the Code or Section 302 of ERISA, has been incurred or an application
may be or has been made for a waiver or modification of the minimum funding standard (including any
required installment payments) or an extension of any amortization period under Section 412 of the
Code or Section 303 or 304 of ERISA with respect to a Plan; that any contribution required to be
made with respect to a Plan or Multiemployer Plan or Foreign Pension Plan has been made more than
sixty (60) days late; that a Plan or Multiemployer Plan has been or may be involuntarily
terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA; that a Plan or
Multiemployer Plan has a material Unfunded Current Liability; that involuntary proceedings may be
or have been instituted to terminate or appoint a trustee to administer a Plan which is subject to
Title IV of ERISA; that an involuntary proceeding has been instituted pursuant to Section 515 of
ERISA to collect a delinquent contribution to a Plan or Multiemployer Plan; that Holdings, any
Subsidiary of Holdings or any ERISA Affiliate will or may incur any material liability (including
any indirect, contingent, or secondary liability) to or on account of the termination of or
withdrawal from a Plan or Multiemployer Plan under Section 4062, 4063, 4064, 4069, 4201, 4204 or
4212 of ERISA or with respect to a Plan or Multiemployer Plan under Section 401(a)(29), 4971, 4975
or 4980 of the Code or Section 409 or 502(i) or 502(1) of ERISA or with respect to a group health
plan (as defined in Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) under Section 4980B
of the Code; or that Holdings

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or any Subsidiary of Holdings may incur any liability pursuant to any employee welfare benefit plan
(as defined in Section 3(1) of ERISA) that provides benefits to retired employees or other former
employees (other than as required by Section 601 of ERISA) or any Plan or any Foreign Pension Plan
in addition to the liability that existed on the Restatement Effective Date pursuant to any such
plan or plans by an amount that would be material to Holdings or any Subsidiary of Holdings. To the
extent that the financial statements set forth with particularity a liability for which notice
would otherwise be required to be given hereunder, a separate notice thereof shall not be required
hereunder. At the request of the Administrative Agent, Holdings and the U.S. Borrower will deliver
to the Administrative Agent copies of any records, documents or other information that must be
furnished to the PBGC with respect to any Plan pursuant to Section 4010 of ERISA. Holdings and the
U.S. Borrower will also deliver upon written request to the Administrative Agent a complete copy of
the annual report (on Internal Revenue Service Form 5500-series) of each Plan (including, to the
extent required, the related financial and actuarial statements and opinions and other supporting
statements, certifications, schedules and information) required to be filed with the Internal
Revenue Service. In addition to any notices delivered to the Administrative Agent pursuant to the
first sentence hereof, copies of annual reports and any records, documents or other information
required to be furnished to the PBGC or any other government agency, and any material notices
received by Holdings, any Subsidiary of Holdings or any ERISA Affiliate with respect to any Plan or
Foreign Pension Plan or received from any government agency or plan administrator or sponsor or
trustee with respect to any Multiemployer Plan, shall, upon request of the Administrative Agent, be
delivered to the Administrative Agent no later than twenty (20) Business Days after the date of
such request. Holdings and each of its applicable Subsidiaries shall ensure that all Foreign
Pension Plans administered by it or into which it makes payments obtain or retain (as applicable)
registered status under and as required by applicable law and is administered in a timely manner in
all respects in compliance with all applicable laws except where the failure to do any of the
foregoing has not had, and could not reasonably be expected to have, a Material Adverse Effect.

          8.09 Good Repair. Each Credit Agreement Party will, and will cause each of its
Subsidiaries to, ensure that its material properties and equipment required to be used in its
business are kept in reasonably good repair, working order and condition, ordinary wear and tear
excepted, and that from time to time there are made in such properties and equipment all needful
and proper repairs, renewals, replacements, extensions, additions, betterments and improvements
thereto, to the extent and in the manner useful or customary for companies in similar businesses.

          8.10 End of Fiscal Years; Fiscal Quarters. Each Credit Agreement Party will cause
(i) each of its, and each of its Subsidiaries’, fiscal years to end on the Saturday closest to
December 31 of each calendar year and (ii) each of its, and each of its Subsidiaries’, fiscal
quarters to end on the last day of each period described in the definition of “Fiscal Quarter”;
provided that Foreign Subsidiaries of Holdings (other than the Bermuda Borrower and the
Bermuda Partnership) shall not be required to maintain the fiscal year and fiscal quarter ends
described above if it is not practicable for such Foreign Subsidiary to maintain same as a result
of foreign statutes, rules or law applicable to such Foreign Subsidiary.

          8.11 Additional Security; Additional Guaranties; Actions with Respect to Non-Guarantor
Subsidiaries; Further Assurances. (a) Each Credit Agreement Party will, and will cause its
Subsidiaries which are Credit Agreement Parties or Subsidiary Guarantors to, grant

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to the Collateral Agent security interests and mortgages
(each, an “Additional Mortgage”) in: (i)
each vessel acquired by such Person after the Initial Borrowing Date and having a value (for such
purpose, using the initial purchase price paid by such Person for such vessel) in excess of
$5,000,000, (ii) such fee-owned (or the equivalent) Real Property acquired by such Person after the
Initial Borrowing Date and having a value (for such purpose, using the initial purchase price paid
by such Person for such Real Property) in excess of $10,000,000 which is not covered by the
original Mortgages or Foreign Security Agreements, as appropriate and (iii) such Leasehold
Properties to which a respective landlord has granted its consent to the delivery of a Mortgage
over such Leasehold Properties (each such Real Property referred to in preceding clause (ii) and
this clause (iii), an “Additional Mortgaged Property”); provided, however that if the
aggregate value of all Second-Tier Material Real Properties (for such purpose, using the initial
purchase price paid by such Person for the respective Second-Tier Material Real Property) acquired
by such Persons after the Initial Borrowing Date which are not then covered by Mortgages or Foreign
Security Agreements, as appropriate, equals or exceeds $20,000,000, each Credit Agreement Party and
each Subsidiary Guarantor shall grant to the Collateral Agent security interests and mortgages in
all such Second-Tier Material Real Properties owned by any such Person which are not then covered
by Mortgages or Foreign Security Agreements, as appropriate (and not just those required to reduce
the aggregate value of all Second-Tier Material Real Properties (determined as provided above) at
such time below $20,000,000). All such Additional Mortgages shall be granted pursuant to
documentation substantially in the form of a relevant existing Mortgage (or, in the case of
Additional Mortgaged Properties located in a jurisdiction outside the United States, the relevant
Foreign Security Agreement covering Real Property located in such jurisdiction (if any) delivered
to the Administrative Agent on the Initial Borrowing Date) or in such other form as is reasonably
satisfactory to the Administrative Agent. All such Additional Mortgages shall constitute valid and
enforceable first priority perfected Liens, superior to and prior to the rights of all third
Persons and subject to no other Liens (except as are permitted by Section 9.03), in favor of the
Collateral Agent (or such other trustee or sub-agent as may be required or desired under local
law). The Additional Mortgages or instruments related thereto shall be duly recorded or filed in
such manner and in such places as are required by law to create, maintain, effect, perfect,
preserve, maintain and protect the Liens in favor of the Collateral Agent required to be granted
pursuant to the Additional Mortgages and all taxes, fees and other charges payable in connection
therewith shall be paid in full. Notwithstanding any “after-acquired property” covenant contained
in any Foreign Security Document requiring the grant of a mortgage in “after-acquired” Real
Property of any Foreign Credit Party in favor of the Collateral Agent, no Foreign Credit Party
shall be required to grant to the Collateral Agent an Additional Mortgage in any Real Property of
such Foreign Credit Party acquired after the Initial Borrowing Date as otherwise required by the
respective Foreign Security Document unless and until the grant of such Additional Mortgage would
otherwise be required pursuant to the terms of this Section 8.11 (a).

          (b) Each Credit Agreement Party will, and will cause each of its Subsidiaries to, at its own
expense, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from
time to time such vouchers, invoices, schedules, confirmatory assignments, confirmatory
conveyances, financing statements, transfer endorsements, confirmatory powers of attorney,
certificates, reports and other assurances or confirmatory instruments and take such further steps
relating to the Collateral covered by any of the Security Documents as the Collateral Agent may
reasonably require pursuant to this Section 8.11. Furthermore, each Credit

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Agreement Party will cause to be delivered to the Collateral Agent such opinions of counsel and
other related documents as may be reasonably requested by the Collateral Agent to assure itself
that this Section 8.11 has been complied with.

          (c) Subject to the provisions of following clauses (g) and (h), if (w) at any time any
Domestic Subsidiary of Holdings is created, established or acquired, such Subsidiary shall be
required to execute and deliver counterparts of the U.S. Subsidiaries Guaranty, the Intercompany
Subordination Agreement, the Intercreditor Agreement and such Security Documents as would have been
entered into by the respective Subsidiary if same had been a U.S. Subsidiary Guarantor under the
Original Credit Agreement on the Initial Borrowing Date (with appropriate changes to reflect the
amendment and restatement of this Agreement on the Restatement Effective Date and any subsequent
modification hereto), and in each case shall take all action in connection therewith as would
otherwise have been required to be taken pursuant to Section 5 of the Original Credit Agreement if
such Subsidiary had been a U.S. Subsidiary Guarantor under the Original Credit Agreement on the
Initial Borrowing Date, (x) at any time any Subsidiary of Holdings organized under the laws of any
Qualified Non-U.S. Jurisdiction is created, established or acquired, such Subsidiary shall be
required to execute and deliver counterparts of the Foreign Subsidiaries Guaranty, the Intercompany
Subordination Agreement and such Security Documents as would have been entered into by the
respective Subsidiary if same had been a Foreign Subsidiary Guarantor under the Original Credit
Agreement on the Initial Borrowing Date (with appropriate changes to reflect the amendment and
restatement of this Agreement on the Restatement Effective Date and any subsequent modification
hereto) (determined in accordance with the criteria described in Sections 5.15, 5.17 and 5.18(b) of
the Original Credit Agreement), and in each case shall take all action in connection therewith as
would otherwise have been required to be taken pursuant to Section 5 of the Original Credit
Agreement if such Subsidiary had been a Foreign Subsidiary Guarantor under the Original Credit
Agreement on the Initial Borrowing Date (with appropriate changes to reflect the amendment and
restatement of this Agreement on the Restatement Effective Date and any subsequent modification
hereto), (y) at any time any Subsidiary of Holdings organized under the laws of any Non-Qualified
Jurisdiction in which a Foreign Subsidiary Guarantor under the Original Credit Agreement was
organized on the Initial Borrowing Date is created, established or acquired, such Subsidiary shall
be required to execute and deliver counterparts of the Foreign Subsidiaries Guaranty and, in each
case, unless the Administrative Agent otherwise agrees based on advice of local counsel, the
Intercompany Subordination Agreement and such Security Documents as would have been entered into by
the respective Subsidiary if same had been a Foreign Subsidiary Guarantor under the Original Credit
Agreement organized under the laws of such Non-Qualified Jurisdiction on the Initial Borrowing Date
(with appropriate changes to reflect the amendment and restatement of this Agreement on the
Restatement Effective Date and any subsequent modification hereto) (determined in accordance with
the criteria described in Sections 5.15, 5.17 and 5.18(b) of the Original Credit Agreement), and in
each case shall take all action in connection therewith as would otherwise have been required to be
taken pursuant to Section 5 of the Original Credit Agreement if such Subsidiary had been a Foreign
Subsidiary Guarantor under the Original Credit Agreement organized under the laws of such
Non-Qualified Jurisdiction on the Initial Borrowing Date (with appropriate changes to reflect the
amendment and restatement of this Agreement on the Restatement Effective Date and any subsequent
modification hereto) and (z) if at any time after the Initial Borrowing Date any jurisdiction
is
added to the list of Qualified Jurisdictions in accordance with the definition thereof contained
herein, then at the

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time of such designation each Foreign Subsidiary of Holdings organized under the laws of such
Qualified Jurisdiction (with such exceptions as may be satisfactory to the Administrative Agent or
the Required Lenders) shall be required to become a Foreign Subsidiary Guarantor and take all
actions specified in preceding clause (x). Furthermore, subject to the provisions of Section
8.11(h), the Administrative Agent or the Required Lenders may at any time request that one or more
Subsidiaries of Holdings organized under the laws of one or more jurisdictions which are not
Qualified Jurisdictions become Foreign Subsidiary Guarantors, in which case the Credit Agreement
Parties shall cause each such Subsidiary which has been specifically requested to become a Foreign
Subsidiary Guarantor to take all actions as are specified in clause (x) of the immediately
preceding sentence, provided that no Subsidiary of Holdings shall be required to take such
actions if, and to the extent that, based upon written advice of local counsel reasonably
satisfactory to the Administrative Agent, Holdings and/or such Subsidiary concludes that the
taking of such actions would violate the laws of the jurisdiction in which the respective
Subsidiary is organized, provided, further, that if steps (such as limiting the amount
guaranteed) can be taken so that such violation would not exist, then if requested by the
Administrative Agent or the Required Lenders, the respective Subsidiary shall enter into a
modified Foreign Subsidiaries Guaranty which provides, to the maximum extent permissible under
applicable law, as many of the benefits as are provided pursuant to the Foreign Subsidiaries
Guaranty executed and delivered on the Initial Borrowing Date as is possible.

          (d) In addition to the requirements contained in the Pledge Agreements, each Credit Agreement
Party agrees to pledge and deliver, or cause to be pledged and delivered, all of the Equity
Interests owned by any Credit Party of each new Unrestricted Subsidiary of Holdings established or
created (and each Subsidiary of Holdings which becomes an Unrestricted Subsidiary) after the
Initial Borrowing Date to the Collateral Agent for the benefit of the Secured Creditors pursuant to
the Pledge Agreements, provided that, subject to the provisions of Section 8.12, in the
case of any Foreign Unrestricted Subsidiary that is a corporation (or treated as such for U.S. tax
purposes) which is owned by a U.S. Credit Party, not more than 65% of the total outstanding voting
Equity Interests of such Person shall be required to be pledged in support of such U.S. Credit
Party’s obligations (x) as a Borrower under the Credit Agreement (in the case of the U.S. Borrower)
or (y) under its Guaranty in respect of the Obligations of the U.S. Borrower (in the case of the
other U.S. Credit Parties).

          (e) Following any request by the Administrative Agent or the Required Lenders, Holdings or any
of its Subsidiaries, shall, to the maximum extent permitted by applicable law (but subject to the
proviso to preceding Section 8.1l(d), to the extent applicable), (x) grant security interests in
such of their Property (other than Excluded Collateral) as may be requested by the Administrative
Agent or the Required Lenders, as the case may be, in which perfected security interests do not
already exist pursuant to the Security Documents theretofore executed and delivered and, in
connection therewith, the Credit Agreement Parties shall, or shall cause the relevant Subsidiaries
of Holdings to, execute and deliver counterparts of (and thereby become parties to) the
Intercreditor Agreement (in the case of any U.S. Credit Party), the applicable Security Documents
and/or Additional Security Documents, in each case in form and substance reasonably satisfactory to
the Administrative Agent, (y) with respect to pledges of Equity Interests of, or promissory notes
issued by, Persons described in Section 13.19(a), take such action (including, without limitation,
the execution of Additional Security Documents, the making of filings, etc.) under the local law of
the Person whose Equity Interests or promissory

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notes are pledged as may be requested in order to create, preserve, protect or perfect security
interests in such Equity Interests and/or promissory notes and/or (z) with respect to each Foreign
Security Document described in Section 13.19(b), take such action (including, without limitation,
amending, modifying or supplementing such Foreign Security Document, etc.) under the local law of
each Credit Party party to such Foreign Security Document as may be requested to effect the
amendments, modifications and supplements contemplated in Section 13.19(b).

          (f) The security interests required to be granted pursuant to Sections 8.11(c), (d) and (e)
shall be granted pursuant to the respective Security Documents already executed and delivered by
the Credit Parties (or other security documentation substantially similar to such Security
Documents or otherwise reasonably satisfactory in form and substance to the Collateral Agent) and
shall constitute valid and enforceable first priority perfected security interests (subject to the
applicable provisions of the Intercreditor Agreement in the case of security interests granted by
any U.S. Credit Party) prior to the rights of all third Persons and subject to no other Liens
(other than Permitted Liens). The Credit Agreement Parties shall (or shall cause their respective
Subsidiaries), (i) at their own expense, to (x) execute, acknowledge and deliver, or cause the
execution, acknowledgment and delivery of, and thereafter register, file or record in any
appropriate governmental office, any document or instrument reasonably deemed by the Collateral
Agent to be necessary or desirable for the creation, perfection, maintenance, preservation and
protection of the Liens on its assets intended to be created pursuant to the relevant Security
Documents and (y) take all other actions reasonably requested by the Collateral Agent (including,
without limitation, the furnishing of legal opinions) in connection with the granting of the
security interests required pursuant to Sections 8.1l(c), (d) and (e) and (ii) pay in full all
taxes, fees and other charges payable in connection with the granting of the security interests
required pursuant to Sections 8.1l(c), (d) and (e).

          (g) Each Credit Agreement Party agrees that each action required above by Section 8.11 (a) or
(b) shall be completed as soon as possible, but in no event later than 90 days (or, in the case of
actions relating to assets located outside the United States, such greater number of days as the
Administrative Agent shall agree to in its sole and absolute discretion in any given case) after
such action is requested to be taken by the Administrative Agent or the Required Lenders. Each
Credit Agreement Party further agrees that (x) each action required above by Section 8.11(c), (d)
and (f) with respect to a newly formed, created or acquired Subsidiary, or with respect to any
Subsidiary which is located in a jurisdiction newly-designated as a
Qualified Jurisdiction or
which becomes an Unrestricted Subsidiary, shall be completed contemporaneously with the formation,
creation or acquisition of such Subsidiary, the date of the addition of the
respective jurisdiction to the list of
Qualified Jurisdictions or the date such Subsidiary becomes
an Unrestricted Subsidiary, as the case may be, (provided that (x) the Credit Documents
required to be executed and delivered pursuant to Section 8.11(c) by such newly formed, created or
acquired Subsidiary shall not be required to be so executed and delivered until 45 days after the
formation, creation or acquisition of such Subsidiary, (y) in the case of a Shell Corporation
formed, created or established by the U.S. Borrower or any of its Subsidiaries, such actions shall
not be required to be taken (so long as same remains a Shell Corporation) until 60 days after the
formation, creation or establishment of such Shell Corporation and (z) in the case of a
newly-formed Subsidiary organized in (i) a Qualified Non-U.S. Jurisdiction or (ii) a Non- Qualified
Jurisdiction in which an existing Foreign Subsidiary Guarantor is organized, to defer the execution
and delivery of Security Documents (but not counterparts of the Foreign

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Subsidiaries Guaranty or the Intercompany Subordination Agreement) if the gross book value of its
assets (determined as of the last day of the calendar month then last ended) is less than
$10,000,000, until (and only until) the aggregate gross book value of all newly-formed Subsidiaries
which have not executed Security Documents in reliance on this proviso (determined as of the last
day of the calendar month then last ended) exceeds $20,000,000, at which time all such excluded
Subsidiaries (and not just those Subsidiaries required to reduce the aggregate gross book value of
such excluded Subsidiaries to below $20,000,000) shall execute the required Security Documents) and
(y) all actions required to be taken pursuant to the last sentence of Section 8.1l(c) and Section
8.1l(e) shall be taken as promptly as practicable, and in any event within 45 days, after Holdings
or the U.S. Borrower receives the respective request from the Administrative Agent or the Required
Lenders.

          (h) Notwithstanding anything to the contrary contained in clauses (c) through (g) above, to
the extent the taking of any action as described above by a new Subsidiary acquired pursuant to a
Permitted Acquisition, which is subject to Permitted Acquired Debt which at such time remains in
existence as permitted by Section 9.04(b)(vi), then to the extent that the terms of the respective
Permitted Acquired Debt prohibit the taking of any actions which would otherwise be required of
such Subsidiary by this Section 8.11, then the time for taking the respective actions (to the
extent prohibited by the terms of the respective Permitted Acquired Debt) shall be extended until
10 Business Days after the earlier of (i) the date of repayment of such Permitted Acquired Debt and
(ii) the first date on which the taking of such actions would not violate the terms of the
respective issue of Permitted Acquired Debt. To the extent the terms of any Permitted Acquired Debt
prohibits the taking of actions otherwise required by this Section 8.11, upon the request of the
Administrative Agent or the Required Lenders, each Credit Agreement Party shall, or shall cause the
respective Subsidiaries of Holdings to, (x) prepay any such Permitted Acquired Debt which is
permitted to be prepaid and/or (y) use reasonable efforts to obtain such consents or approvals as
are needed so that the taking of the actions otherwise specified in this Section 8.11 would not
violate the terms of the respective issue of Permitted Acquired Debt. Furthermore, to the extent
any Subsidiary which is not a Wholly-Owned Subsidiary is acquired pursuant to a Permitted
Acquisition (in accordance with the limitations contained in the definition thereof), then for so
long as such Subsidiary is not a Wholly-Owned Subsidiary, to the extent Holdings in good faith
determines that the respective Subsidiary is not able, under applicable requirements of law
(whether because of fiduciary duties under applicable law or other requirements of applicable law)
to execute and deliver a Subsidiaries Guaranty or one or more Security Documents, the respective
such Subsidiary shall not be required to become a Subsidiary Guarantor or execute and deliver such
Security Documents as otherwise required above.

          (i) Within 30 days following the request of the Administrative Agent, the Collateral Agent or
the Required Lenders, the Credit Agreement Parties shall cause each Fee Capped Foreign Subsidiary
Guarantor (to the maximum extent permitted by applicable law) to (x) enter into such amendments
and/or modifications to the relevant Credit Documents to which such Fee Capped Foreign Subsidiary
Guarantor is a party to cause the guaranty amount or the secured obligations thereunder, as
applicable, to equal 110% of the fair market value of the Property owned or held by such Fee
Capped Foreign Subsidiary Guarantor and (y) pay all registration, notorial and other fees, all
taxes and all other amounts as may be required in

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connection with the increase in amount of the guaranty and/or the secured obligations under such
Credit Documents.

          (j) In the event that the Administrative Agent or the Required Lenders at any time after the
Initial Borrowing Date determine in their reasonable discretion (whether as a result of a position
taken by an applicable bank regulatory agency or official, or otherwise) that real estate
appraisals satisfying the requirements set forth in 12 C.F.R., Part 34-Subpart C, or any successor
or similar statute, role, regulation, guideline or order (any such appraisal, a “Required
Appraisal”) are or were required to be obtained, or should be obtained, in connection with any
U.S. Mortgaged Property or U.S. Mortgaged Properties, then, within 90 days after receiving written
notice thereof from the Administrative Agent or the Required Lenders, as the case may be, Holdings
shall cause such Required Appraisal to be delivered, at the expense of Holdings, to the
Administrative Agent, which Required Appraisal, and the respective appraiser, shall be satisfactory
to the Administrative Agent.

          (k) Notwithstanding any “after-acquired property” covenant contained in any Foreign Security
Document requiring the grant of security interests in Property of any Foreign Credit Party in
favor of the Collateral Agent (but subject to Sections 8.11(a) and (e)), no Foreign Credit Party
shall be required to grant the Collateral Agent security interests in Property of such Foreign
Credit Party acquired after the Initial Borrowing Date which is not a vessel and does not
constitute Real Property (all such Property, “After-Acquired Foreign Personal Property”)
and which is not covered already expressly by the respective Foreign Security Document as
otherwise required by such Foreign Security Document if the gross book value of all After-Acquired
Foreign Personal Property of such Foreign Credit Party (determined as of the last day of the
calendar month then last ended) excluded from the pledge requirements pursuant to this clause (k)
is less than $10,000,000, unless (and until) the aggregate gross book value of all
After-Acquired Foreign Personal Property of all Foreign Credit Parties excluded from the pledge
requirements pursuant to this clause (k) (determined as of the last day of the calendar month then
last ended) exceeds $20,000,000, at which time the Foreign Credit Parties shall take all actions
required to be taken pursuant to the respective Foreign Security Documents to grant the Collateral
Agent a security interest in such theretofore excluded After-Acquired Foreign Personal Property as
is required to cause the aggregate gross book value (determined as described above) of all
After-Acquired Foreign Personal Property of all Foreign Credit Parties not then subject to a
security interest in favor of the Collateral Agent pursuant to the relevant Foreign Security
Documents not to exceed $5,000,000.

          (l) Notwithstanding anything to the contrary contained above in this Section 8.11 or
elsewhere in this Agreement or the other Credit Documents, no Credit Party shall be required to
grant a security interest in, or Lien on, any Excluded Collateral (so long as the respective
Property constitutes Excluded Collateral), and the value of any Excluded Collateral shall not be
taken into account in making determinations pursuant to the foregoing clauses of this Section
8.11.

          8.12 Foreign Subsidiaries Security. If following a change in the relevant sections of
the Code or the regulations, rules, rulings, notices or other official pronouncements issued or
promulgated thereunder, counsel for Holdings reasonably acceptable to the Administrative Agent and
the Required Lenders does not within 30 days after a request from the

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Administrative Agent or the Required Lenders deliver evidence, in form and substance reasonably
satisfactory to the Administrative Agent and the Required Lenders, that (i) a pledge of 66-2/3% or
more of the total combined voting power of all classes of Equity Interests entitled to vote of any
Foreign Unrestricted Subsidiary owned by a U.S. Credit Party which has not already had all of its
Equity Interests pledged pursuant to the U.S. Pledge Agreement or a Local Law Pledge Agreement, as
applicable, to secure all of the Obligations (as defined in the respective such Security Document),
(ii) the entering into by a Foreign Subsidiary Guarantor of a pledge agreement in substantially the
form of the U.S. Pledge Agreement, (iii) the entering into by a Foreign Subsidiary Guarantor of a
security agreement in substantially the form of the U.S. Security Agreement and (iv) the entering
into by a Foreign Subsidiary Guarantor of a guaranty in substantially the form of the U.S.
Subsidiaries Guaranty, in any such case would cause the undistributed earnings of such Foreign
Subsidiary as determined for Federal income tax purposes to be treated as a deemed dividend to such
Foreign Subsidiary’s United States parent or a deemed disposition of the shares of stock of such
Foreign Subsidiary for Federal income tax purposes, then (I) in the case of a failure to deliver
the evidence described in clause (i) above, that portion of such Foreign Unrestricted Subsidiary’s
outstanding Equity Interests owned or held by a U.S. Credit Party and not theretofore pledged
pursuant to the U.S. Pledge Agreement or a Local Law Pledge Agreement, as applicable, to secure all
of the Obligations (as defined in the respective such Security Document) shall be pledged to the
Collateral Agent for the benefit of the Secured Creditors pursuant to the U.S. Pledge Agreement or
the relevant Local Law Pledge Agreement (or another pledge agreement in substantially similar form,
if needed), (II) in the case of a failure to deliver the evidence described in clause (ii) above,
such Foreign Subsidiary Guarantor shall execute and deliver the U.S. Pledge Agreement (or another
pledge agreement in substantially similar form, if needed), granting to the Collateral Agent for
the benefit of the Secured Creditors a security interest in all of the capital stock, other Equity
Interests and promissory notes owned by such Foreign Subsidiary (other than Excluded Collateral)
and securing the Obligations of the U.S. Borrower under the Credit Documents and under any Interest
Rate Protection Agreement or Other Hedging Agreement and, in the event the U.S. Subsidiaries
Guaranty shall have been executed by such Foreign Subsidiary Guarantor, the obligations of such
Foreign Subsidiary Guarantor thereunder, (III) in the case of a failure to deliver the evidence
described in clause (iii) above, such Foreign Subsidiary Guarantor shall execute and deliver the
U.S. Security Agreement (or another security agreement in substantially similar form, if needed)
granting to the Collateral Agent for the benefit of the Secured Creditors a security interest in
all of such Foreign Subsidiary Guarantor’s assets (other than the capital stock, other Equity
Interests and promissory notes owned by such Foreign Subsidiary and such assets which constitute
Excluded Collateral) and securing the obligations of the U.S. Borrower under the Credit Documents
and under any Interest Rate Protection Agreement or Other Hedging Agreement and, in the event the
U.S. Subsidiaries Guaranty shall have been executed by such Foreign Subsidiary Guarantor, the
obligations of such Foreign Subsidiary Guarantor thereunder and (IV) in the case of a failure to
deliver the evidence described in clause (iv) above, such Foreign Subsidiary Guarantor shall
execute and deliver the U.S. Subsidiaries Guaranty (or another guaranty in substantially similar
form, if needed), guaranteeing the Obligations of the U.S. Borrower under the Credit Documents and
under any Interest Rate Protection Agreement or Other Hedging Agreement, in each case to the extent
that the entering into of the U.S. Pledge Agreement, the U.S. Security Agreement or the U.S.
Subsidiaries Guaranty (or similar such agreement or guaranty) is permitted by the laws of the
respective foreign jurisdiction and with all

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documents delivered pursuant to this Section 8.12 to be in form and substance reasonably
satisfactory to the Administrative Agent and/or the Required Lenders. Notwithstanding anything to
the contrary contained in this Section 8.12, no Foreign Subsidiary shall be required to comply
with the provisions of this Section 8.12 if the tax advisors for Holdings or such Subsidiary
determine that there is a reasonable likelihood that such Foreign Subsidiary is, or has ever been,
a passive foreign investment company within the meaning of Section 1297 of the Code.

          8.13 Use of Proceeds. Holdings will, and will cause each of its Subsidiaries to, use
the proceeds of the Loans for the purposes specified in Section 7.05. No Credit Agreement Party
will, nor will it permit any of its Subsidiaries to, use any of the proceeds of the Loans, any
Letter of Credit or any Bank Guaranty to finance the acquisition of any Person that has not been
approved and recommended by the board of directors (or functional equivalent thereof) or the
requisite shareholders of such Person.

          8.14 Ownership of Subsidiaries. (a) Notwithstanding anything to the contrary
contained in this Agreement, (w) Holdings shall at all times own directly 100% of the Equity
Interests of Intermediate Holdco, (x) Intermediate Holdco shall at all times own directly 100% of
the capital stock of Corporate Holdco and the U.S. Borrower, (y) the U.S. Borrower shall at all
times own directly or indirectly 100% of the capital stock of the Bermuda Borrower and (z) subject
to the proviso to the first sentence of Section 8.18(a), Holdings shall at all times own directly
or indirectly (through one or more Wholly-Owned Domestic Subsidiaries (as opposed to through
Foreign Subsidiaries)) all of the capital stock or other Equity Interests (to the extent owned by
Holdings or any of its Subsidiaries) of each Domestic Subsidiary of Holdings.

          (b) Holdings shall at all times own, directly or indirectly, 100% of the capital stock or
other Equity Interests of its Subsidiaries (except to the extent (v) with respect to Foreign
Subsidiaries, directors’ qualifying shares and other nominal amounts of shares required by
applicable law to be held by Persons (other than directors) are issued from time to time (so long
as the respective Subsidiary continues to constitute a Wholly-Owned Subsidiary of Holdings), (w)
100% of the capital stock or other Equity Interests of any such Subsidiary are sold, transferred or
otherwise disposed of pursuant to a transaction permitted by Section 9.02, (x) less than
100% of the capital stock or other Equity Interests are acquired in the respective Subsidiary
pursuant to a Permitted Acquisition which meets the criteria specified in the definition of
Permitted Acquisition contained herein, (y) such capital stock or other Equity Interests are
acquired pursuant to an Investment permitted by Sections 9.05(xv) and (xix) or (z) set forth on
Schedule VII).

          8.15 Permitted Acquisitions. (a) Subject to the provisions of this Section 8.15 and
the requirements contained in the definition of Permitted Acquisition, the U.S. Borrower and any of
its Wholly-Owned Subsidiaries may from time to time effect Permitted Acquisitions, so long as (in
each case except to the extent the Required Lenders otherwise specifically agree in writing in the
case of a specific Permitted Acquisition): (i) no Default or Event of Default shall be in existence
at the time of the consummation of the proposed Permitted Acquisition or immediately after
giving effect thereto; (ii) the U.S. Borrower shall have given the Administrative
Agent (on behalf of the Lenders) at least 10 Business Days’ prior written notice of the proposed
Permitted Acquisition; (iii) all representations and warranties contained herein and in the other
Credit Documents shall be true and correct in all material respects with the same

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effect as though such representations and warranties had been made on and as of the date of such
Permitted Acquisition (both before and after giving effect thereto), unless stated to relate to a
specific earlier date, in which case such representations and warranties shall be true and correct
in all material respects as of such earlier date; (iv) the U.S. Borrower provides to the
Administrative Agent (on behalf of the Lenders) as soon as available but not later than 5 Business
Days after the execution thereof, a copy of any executed purchase agreement or similar agreement
with respect to such Permitted Acquisition; (v) after giving effect to such Permitted Acquisition
and the payment of all post closing purchase price adjustments required (in the good faith
determination of Holdings) in connection with such Permitted Acquisition (and all other Permitted
Acquisitions for which such purchase price adjustments may be required to be made) and all capital
expenditures (and the financing thereof) reasonably anticipated by Holdings to be made in the
business acquired pursuant to such Permitted Acquisition within the 180 day period (such period for
any Permitted Acquisition, a “Post-Closing Period” following such Permitted Acquisition (and in the
businesses acquired pursuant to all other Permitted Acquisitions with Post Closing Periods ended
during the Post Closing Period of such Permitted Acquisition), the (x) Total Unutilized Revolving
Loan Commitment (as defined in the ABL Credit Agreement) or, if less, the amount which could then
be borrowed thereunder giving effect to the “borrowing base” or similar limitations on amounts
permitted to be borrowed thereunder or (y) in the event that the ABL Credit Agreement shall have
been replaced or refinanced, undrawn available amounts under other working capital revolving credit
facilities of the U.S. Borrower (determined based on the relevant total commitments and borrowing
base or other similar limitations as applicable), shall equal or exceed $30,000,000; (vi) such
proposed Permitted Acquisition shall be effected in accordance with the relevant requirements of
Section 8.18; (vii) the U.S. Borrower determines in good faith that Holdings and its Subsidiaries
taken as a whole are not likely to assume or become liable for material increased contingent
liabilities as a result of such proposed Permitted Acquisition (excluding, however, Indebtedness
permitted to be incurred pursuant to Section 9.04 in connection therewith); (viii) substantially
all of the Acquired Entity or Business acquired pursuant to the respective Permitted Acquisition is
in a Qualified Jurisdiction (for such purpose, treating as “Qualified Jurisdictions” the
jurisdictions of organization of Fee Capped Foreign Subsidiary Guarantors deemed to be
“Qualified Non-U.S. Obligors” pursuant to clause (i) of the proviso appearing in the
definition of “Qualified Non-U.S. Obligors”), provided, however, the respective proposed
Permitted Acquisition shall not be required to meet the requirements set forth above in this clause
(viii) if the Maximum Permitted Consideration payable in connection with such Permitted
Acquisition, when aggregated with the Maximum Permitted Consideration payable in connection with
all other Permitted Acquisitions consummated after the Restatement Effective Date in which all or
substantially all of the Acquired Entity or Business so acquired were not in Qualified
Jurisdictions, does not exceed $300,000,000; and (ix) the U.S. Borrower shall have delivered to the
Administrative Agent on the date of the consummation of such proposed Permitted Acquisition, an
officer’s certificate executed by an Authorized Officer of the U.S. Borrower, certifying to the
best of his knowledge, compliance with the requirements of preceding clauses (i) through (iii),
inclusive, and clauses (v) through (viii), inclusive, and containing the calculations required by
the preceding clauses (v) and (viii);

          (b) At the time of each Permitted Acquisition involving the creation or acquisition of an
Unrestricted Subsidiary, or the acquisition of capital stock or other Equity Interests of any
Person (other than a Restricted Subsidiary of the U.S. Borrower), all capital

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stock or other Equity Interests thereof created or acquired in connection with such Permitted
Acquisition shall be pledged for the benefit of the Secured Creditors as, and to the extent
required by, Section 8.11 and the relevant Security Documents.

          (c) Each Credit Agreement Party shall cause each Subsidiary that is formed to effect, or is
acquired pursuant to, a Permitted Acquisition to comply with, and to execute and deliver, all of
the documentation required by, Sections 8.11 and 9.11, to the satisfaction of the Administrative
Agent.

          (d) The consummation of each Permitted Acquisition shall be deemed to be a representation and
warranty by each Credit Agreement Party that the certifications by each Credit Agreement Party (or
by one or more of its respective Authorized Officers) pursuant to Section 8.15 are true and correct
and that all conditions thereto have been satisfied and that same is permitted in accordance with
the terms of this Agreement, which representation and warranty shall be deemed to be a
representation and warranty for all purposes hereunder, including, without limitation, Sections 6
and 10.

          8.16 Maintenance of Company Separateness. Each Credit Agreement Party will, and will
cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of
regular board of directors’ and shareholders’ meetings or action by directors or shareholders
without a meeting and the maintenance of Company records. Neither Holdings nor any other Credit
Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any
liability of any Non-Guarantor Subsidiary, and no bank account of any Non- Guarantor Subsidiary
shall be commingled with any bank account of Holdings or any other Credit Party. Any financial
statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or
indicate the corporate separateness of such Non-Guarantor Subsidiary from Holdings and its other
Subsidiaries. Finally, neither Holdings nor any of its Subsidiaries shall take any action, or
conduct its affairs in a manner, which is likely to result in the Company existence of any Credit
Agreement Party, any other Credit Party or any Non- Guarantor Subsidiaries being ignored, or in the
assets and liabilities of Holdings or any other Credit Party being substantively consolidated with
those of any other such Person or any Non- Guarantor Subsidiary in a bankruptcy, reorganization or
other insolvency proceeding.

          8.17 Performance of Obligations. Each Credit Agreement Party will, and will cause
each of its Subsidiaries to, perform all of its obligations under the terms of each mortgage, deed
of trust, indenture, loan agreement or credit agreement and each other material agreement, contract
or instrument by which it is bound, except such non-performances as, individually or in the
aggregate, have not caused, and could not reasonably be expected to cause, a Default or Event of
Default hereunder or a Material Adverse Effect.

          8.18
Conduct of Business. (a) The Credit Agreement Parties shall take all actions so
that, at all times from and after the Initial Borrowing Date, all the assets of Holdings and its
Subsidiaries located within the United States, all Equity Interests in all Domestic Subsidiaries or
other U.S. Persons and all or substantially all of the business of Holdings and its Subsidiaries
conducted in the United States, are, in each case, owned or conducted, as the case may be, by
Holdings and one or more Qualified U.S. Obligors which are not direct or indirect Subsidiaries of
any Subsidiary of Holdings which is a Foreign Subsidiary, provided that if a

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Foreign Subsidiary (not itself created or established in contemplation of a Permitted Acquisition)
is acquired pursuant to a Permitted Acquisition which Foreign Subsidiary has (either directly or
through one or more Domestic Subsidiaries) assets or operations in the United States, Holdings
shall have a reasonable period of time (not to exceed 60 days) to effect the transfer of U.S.
assets and operations (including all Equity Interests in any Domestic Subsidiaries or other U.S.
Persons held by it) of the respective Foreign Subsidiary to one or more Qualified U.S. Obligors,
provided, further, that the respective transfer shall not be required to be made if
Holdings in good faith determines that such transfer would give rise to adverse tax consequences
to Holdings and its Subsidiaries or would give rise to any material breach or violation of law or
contract (in which case, Holdings and its Subsidiaries shall transfer such assets and operations
at such time, if any, as such adverse tax consequences or breach or violation would not exist and,
until such time, shall use good faith efforts so that any growth in the assets or operations of
the entity so acquired, to the extent located in the United States, are made within one or more
Qualified U.S. Obligors).

          (b) In addition to the foregoing requirements, the Credit Agreement Parties shall take all
actions so that, at all times from and after the Initial Borrowing Date, all the assets of
Holdings’ Subsidiaries located within all Qualified Non-U.S. Jurisdictions, all Equity Interests in
all Persons organized under any Qualified Non-U.S. Jurisdiction and all or substantially all of the
business of Holdings’ Subsidiaries conducted in all Qualified Non-U.S. Jurisdictions, are, in each
case, owned or conducted, as the case may be, by one or more Qualified Non-U.S. Obligors which are
not direct or indirect Subsidiaries of any Subsidiary of Holdings other than Qualified Obligors,
provided that if a Subsidiary of Holdings organized under the laws of a jurisdiction other
than any Qualified Non-U.S. Jurisdiction (not itself created or established in contemplation of the
respective Permitted Acquisition) is acquired pursuant to a Permitted Acquisition which Subsidiary
has (either directly or through one or more Subsidiaries) assets or operations outside Qualified
Non-U.S. Jurisdictions, Holdings shall have a reasonable period of time (not to exceed 60 days) to
effect the transfer of all assets and operations outside Qualified Non-U.S. Jurisdictions
(including all Equity Interests in any Persons held by it which are organized under the laws of one
or more Qualified Non-U.S. Jurisdiction) of the respective Subsidiary to one or more Qualified
Non-U.S. Obligors which are not themselves direct or indirect Subsidiaries of any Subsidiary of
Holdings other than Qualified Obligors, provided, further, that the respective transfer
shall not be required to be made if Holdings in good faith determines that such transfer would give
rise to adverse tax consequences to Holdings and its Subsidiaries or would give rise to any
material breach or violation of law or contract (in which case, Holdings and its Subsidiaries shall
transfer such assets and operations at such time, if any, as such adverse tax consequences or
breach or violation would not exist, and until such time shall use good faith efforts so that any
growth in the assets or operations of the entity so acquired, to the extent located in the
Qualified Non-U.S. Jurisdictions, are made within one or more Qualified Non-U.S. Obligors which are
not themselves direct or indirect Subsidiaries of any Subsidiary of Holdings other than Qualified
Obligors). Notwithstanding the foregoing provisions of this Section 8.18(b), the ownership of the
Bermuda Partnership (a Subsidiary which is not a Qualified Non-U.S. Obligor) of Equity Interests of
Qualified Non-U.S. Obligors shall not be taken account of for purposes of determining compliance
with this Section 8.18(b), so long as the Credit Agreement Parties and their respective Foreign
Subsidiaries are at all times in compliance with Section 8.18(c) below.

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          (c) The Credit Agreement Parties shall take all actions so that all Foreign Subsidiaries that
are not Qualified Non-U.S. Obligors are directly or indirectly owned by one or more Qualified
Non-U.S. Obligors (or, in the case of the Bermuda Partnership, is owned by the Bermuda Partnership
Partners).

          (d) For the avoidance of doubt, it is understood and agreed that the foregoing provisions of
this Section 8.18 shall not prohibit the acquisition of, or Investments in, Non- Wholly-Owned
Subsidiaries as contemplated by Section 9.11(b), provided that the Equity Interest owned by
Holdings or any of its Subsidiaries in such Non-Wholly-Owned Subsidiaries, to the extent organized
under the laws of any Qualified Jurisdiction, shall be subject to the requirements of preceding
clauses (a), (b) and (c) of this Section 8.18.

          8.19 Margin Stock. Each Credit Agreement Party shall take all actions so that at all
times the aggregate value of all Margin Stock (other than treasury stock) owned by Holdings and its
Subsidiaries (for such purpose, using the initial purchase price paid by Holdings or such
Subsidiary for the respective shares of Margin Stock) shall not exceed $10,000,000. So long as the
aggregate value of Margin Stock (other than treasury stock) owned by Holdings and its Subsidiaries
(determined as provided in the preceding sentence) does not exceed $10,000,000, all Margin Stock at
any time owned by Holdings and its Subsidiaries shall not constitute Collateral and no security
interest shall be granted therein pursuant to any Credit Document. Without excusing any violation
of the first sentence of this Section 8.19, if at any time the aggregate value of all Margin Stock
(other than treasury stock) owned by Holdings and its Subsidiaries (determined as provided in the
first sentence of this Section 8.19) exceeds $10,000,000, then (x) all Margin Stock owned by the
Credit Parties (except to the extent constituting Excluded Collateral) shall be pledged, and
delivered for pledge, pursuant to the relevant Security Documents and (y) the U.S. Borrower shall
execute and deliver to the Lenders appropriate completed forms (including, without limitation,
Forms G-3 and U-l, as appropriate) establishing compliance with the Margin Regulations. If at
any time any Margin Stock is required to be pledged as a result of the provisions of the
immediately preceding sentence, repayments of outstanding Obligations shall be required to be made,
and subsequent Credit Events shall only be permitted, in compliance with the applicable provisions
of the Margin Regulations.

          8.20 Foreign Security Document Amendments. (x) If any additional Foreign Security
Document is entered into by Holdings or any of its Subsidiaries after the Restatement Effective
Date or (y) any change in applicable law governing any Foreign Security Document relevant to the
scope of the Obligations covered by such Foreign Security Document or the Secured Creditors
entitled to the benefits of such Foreign Security Document occurs after the Restatement Effective
Date and, in any such case, the Collateral Agent (based on the advice of local counsel) has
determined that amendments to the respective Foreign Security Document are required to maintain a
valid and enforceable first priority lien on the Collateral covered by such Foreign Security
Document in favor of the Collateral Agent for the benefit of all of the Secured Creditors securing
all of the relevant Obligations (i.e., all Tranche C Term Loans, all Bermuda Borrower Letters of
Credit and Unpaid Drawings thereunder, all Bermuda Borrower Bank Guaranties and Unreimbursed
Payments thereunder, and, after a given Incremental Term Loan Commitment Date, all related
incremental Obligations resulting from the provision of the respective Incremental Term Loan
Commitments to the Bermuda Borrower), then, within 90

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days following the request of the Collateral Agent or the Administrative Agent, the U.S. Borrower
shall duly authorize, execute and deliver to the Collateral Agent, or cause to be duly authorized,
executed and delivered to the Collateral Agent, a fully executed counterpart of an amendment to
such Foreign Security Document, which amendment shall (i) be in full force and effect (and, if
applicable, properly recorded) no later than the date of required execution and delivery of such
amendment as provided above and (ii) otherwise be in form and substance satisfactory to the
Administrative Agent.

          8.21 Refinancing. To the extent that the condition set forth in Section 5.08(a)(i) was
not satisfied in accordance with its terms on the Restatement Effective Date, on the Intermediate
Holdco Prepayment Date, Intermediate Holdco and Corporate Holdco shall, or shall cause the
Intermediate Holdco Paying Agent (for and on behalf of Intermediate Holdco and Corporate Holdco)
to, prepay all of the outstanding Intermediate Holdco Indebtedness (other than indemnities not then
due and payable) (including, without limitation, the call or other premiums payable in connection
therewith and all accrued and unpaid interest thereon up to and including the Intermediate Holdco
Prepayment Date) in accordance with, and pursuant to, the terms of the Intermediate Holdco Credit
Agreement and the other Intermediate Holdco Credit Documents (the “Intermediate Holdco
Prepayment Consummation”). In connection therewith and the satisfaction of Section 5.08(a)(i),
on the Restatement Effective Date (with respect to the satisfaction of Section 5.08(a)(i)) or the
Intermediate Holdco Prepayment Date (in connection with the Intermediate Holdco Prepayment
Consummation) and at any time, respectively, thereafter (at the request of the Administrative Agent
or the Intermediate Holdco Paying Agent, as the case may be, from time to time), the Credit Parties
shall take (and use commercially reasonable efforts to cause the respective lenders to take) such
actions (including, without limitation, executing or obtaining appropriate lien releases and other
documents) as the Administrative Agent or the Intermediate Holdco Paying Agent, as the case may be,
may deem reasonably necessary or desirable to (x) release any Lien granted to or held by any Person
under, and pursuant to the terms of, the Intermediate Holdco Credit Documents and (y) terminate and
satisfy in full all of the liabilities and obligations at any time arising under or in respect of
the Intermediate Holdco Credit Documents (including, without limitation, the Intermediate Holdco
Indebtedness).

          Section 9. Negative Covenants. Each Credit Agreement Party hereby covenants and agrees
that as of the Restatement Effective Date and thereafter for so long as this Agreement is in effect
and until the Total Commitment has terminated, no Letters of Credit, Bank Guaranties or Notes are
outstanding and the Loans, together with interest, Fees and all other Obligations (other than any
indemnities described in Section 13.13 which are not then due and payable) incurred hereunder, are
paid in full:

          9.01 Changes in Business; etc. (a) Holdings and its Subsidiaries will not engage in
any business other than a Permitted Business.

          (b) Notwithstanding the foregoing, Holdings will not engage in any business and will not own
any significant assets (other than its ownership of (w) cash and Cash Equivalents held by Holdings
representing proceeds from the Wellbeing Project Financing, (x) the Equity Interests of
Intermediate Holdco, (y) Intercompany Notes evidencing intercompany loans permitted to be made by
it pursuant to Section 9.05 and (z) after the issuance

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thereof, the Equity Interests of each of the Unrestricted Wellbeing Joint Ventures) or have any
liabilities (other than those liabilities for which it is responsible under this Agreement, the
Documents to which it is a party (including, without limitation, the ABL Credit Documents), any
Shareholder Subordinated Note, any Interest Rate Protection Agreement permitted to be entered into
pursuant to Section to Section 9.04(b)(iii) and any Intercompany Note evidencing an intercompany
loan permitted to be incurred by Holdings pursuant to Section 9.05); provided that Holdings
may (i) issue Shareholder Subordinated Notes, shares of Holdings Common Stock and options and
warrants to purchase Holdings Common Stock, (ii) engage in those activities associated with
expenses indirectly paid with Dividends made to it by Intermediate Holdco pursuant to Section
9.06(iv), (iii) engage in those activities associated with the purchase and ownership of the Equity
Interests of the Unrestricted Wellbeing Joint Ventures permitted pursuant to Section 9.05(xx) and
(iv) engage in those activities that are incidental to (x) the maintenance of its corporate
existence in compliance with applicable law, (y) legal, tax and accounting matters in connection
with any of the foregoing activities and (z) the entering into, and performing its obligations
under, this Agreement and the other Documents (including, without limitation, the ABL Credit
Documents) to which it is a party.

          (c) Notwithstanding the foregoing, the Bermuda Partnership will not engage in any business and
will not own any significant assets or any cash or Cash Equivalents (other than its ownership of
Equity Interests of Qualified Non-U.S. Obligors) or have any material liabilities (other than those
liabilities for which it is responsible under the Credit Documents to which it is a party),
provided that the Bermuda Partnership may (I) provide treasury, accounting, logistic and
other administrative support services to its Affiliates on an arms’ length basis and hold and
retain cash earned in connection with the provision of such services, (II) receive and hold
additional cash and Cash Equivalents from its Subsidiaries and/or its Affiliates, so long as same
are promptly (and in any event within one Business Day of receipt thereof) loaned, distributed
and/or contributed, subject to Section 9.01(d), to its Subsidiaries and/or Affiliates in accordance
with the requirements of Section 9.05 of this Agreement and (III) engage in those activities that
(i) are incidental to (x) the maintenance of its Company existence in compliance with applicable
law, (y) legal, tax and accounting matters in connection with any of the foregoing activities and
(z) the entering into, and performing its obligations under, the Credit Documents to which it is a
party and (ii) are otherwise expressly permitted by this Agreement (other than pursuant to
preceding Section 9.01 (a)) and the other Credit Documents.

          (d) Notwithstanding anything to the contrary contained above or elsewhere in this Agreement
(including, without limitation, Sections 9.02 and 9.05):

     (i) the Bermuda Partnership Partners shall not collectively own or hold (x) Property
(exclusive of Property leased or operated but not owned) with a Fair Market Value in excess
of $30,000,000 at any time or (y) cash or Cash Equivalents in an aggregate in excess of
$10,000,000; provided that (v) all assets owned by the Bermuda Partnership Partners
on the Restatement Effective Date (which assets shall have a net book value on the
Restatement Effective Date not to exceed $25,000,000) shall be excluded for purposes of
such determination, (w) any cash and Cash Equivalents loaned and/or contributed to such
Persons by Affiliates of such Persons shall be excluded for purposes of such determination,
so long as same are promptly (and in any event within one Business Day) loaned and/or
distributed to other Affiliates of such Persons (other

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than another Bermuda Partnership Partner) in accordance with the requirements of this Agreement,
(x) any inventory owned by the Bermuda Partnership Partners shall be excluded for purposes of such
determination, (y) any Equity Interests in the Bermuda Partnership which are held by the Bermuda
Partnership Partners shall be excluded for purposes of such determination and (z) any intercompany
receivable owed to a Bermuda Partnership Partner by Dole Settlement Company shall be excluded for
purposes of such determination, so long as (I) both Dole Settlement Company (as obligor) and the
respective Bermuda Partnership Partner (as obligee) are parties to the Intercompany Subordination
Agreement and (II) such intercompany receivable is at all times subject to the subordination
provisions contained in the Intercompany Subordination Agreement;

     (ii) no Bermuda Partnership Partner shall merge, consolidate with or be liquidated or
dissolved into any other Person, provided, however, that any Bermuda Partnership Partner
may merge or consolidate with or into any other Wholly-Owned Domestic Subsidiary of the U.S.
Borrower formed for the sole purpose of reincorporating such Bermuda Partnership Partner in a
different jurisdiction, so long as the surviving entity of such merger or consolidation remains a
“Bermuda Partnership Partner” for all purposes of this Agreement and the other Credit Documents
(subject to and bound by all terms and covenants herein and therein applicable to a “Bermuda
Partnership Partner”);

     (iii) no Bermuda Partnership Partner shall engage in any business other than a business which
is the same or reasonably related to the business in which such Bermuda Partnership Partner is
engaged on the Original Effective Date;

     (iv) no later than one Business Day following the date upon which any Bermuda Partnership
Partner receives or generates an Account (as defined in the U.S. Security Agreement), such Account
shall be sold on a non-recourse basis to Dole Settlement Company (at a discount of 2%) in exchange
for a note payable (which shall at all times be subject to the subordination provisions contained
in the Intercompany Subordination Agreement) and/or the assumption of a payable or payables owing
by such Bermuda Partnership Partner to its relevant Subsidiary which sells fruit, inventory or
other Property, or provides shipping services, to such Bermuda Partnership Partner (which assumed
liabilities shall also be subject to the subordination provisions contained in the Intercompany
Subordination Agreement); and

     (v) upon the occurrence and during the continuance of any Specified Default or any Event of
Default under Section 10.01 or 10.05, unless otherwise directed by the Administrative Agent or the
Required Lenders, (x) neither the U.S. Borrower nor any of its Subsidiaries shall sell fruit,
inventory or other Property to, or contract to perform shipping services for, any Bermuda
Partnership Partner, (y) the U.S. Borrower and its Subsidiaries shall sell to Dole Settlement
Company fruit, inventory and other Property formerly sold to, and shall contract with Dole
Settlement Company to sell shipping services formerly contracted with, any Bermuda Partnership
Partner and (z) no Bermuda Partnership Partner shall be permitted to receive any Dividends or the
proceeds of any intercompany loans or advances from any of its Affiliates.

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          (e) Notwithstanding the foregoing, the Excluded Domestic Subsidiary will not engage in any
business and will not own any assets or have any liabilities; provided that the Excluded
Domestic Subsidiary may engage in those activities that are incidental to (x) the maintenance or
termination of its corporate existence in compliance with applicable law, and (y) legal, tax and
accounting matters in connection with any of the foregoing activities.

          (f) Notwithstanding the foregoing, no Excluded Bermuda Insurance Company will engage in any
business (other than the insurance related business conducted by it on the Original Effective Date
(including, without limitation, its business as a captive insurer for Holdings and its Affiliates
with respect to property, casualty and liability insurance (including workers compensation
insurance))) and will not own any Equity Interests or any other significant assets (other than
assets used in the conduct of its business as described above) or have any liabilities (other than
those liabilities under the Documents to which it is a party and those liabilities incurred in the
ordinary course of its business as described above); provided, that an Excluded Bermuda
Insurance Company may engage in those activities that are incidental to (x) the maintenance of its
Company existence in compliance with applicable law, (y) legal, tax and accounting matters in
connection with any of the foregoing activities and (z) the entering into, and performing its
obligations under, this Agreement and the other Documents to which it is a party.

          (g) Notwithstanding anything to the contrary contained above in this Section 9.01 or elsewhere
in this Agreement, at no time shall Holdings or any Subsidiary of Holdings be an obligor or an
obligee with respect to any Intercompany Debt, unless each obligor (including each Person which is
a guarantor thereof) and each obligee with respect thereto are party to the Intercompany
Subordination Agreement; provided, however, that the provisions hereof shall not apply to
those Non-Wholly Owned Subsidiaries listed on Part D of Schedule XII.

          (h) Notwithstanding the foregoing, no Excluded Foreign Subsidiary will engage in any business
or own any assets (other than (x) Equity Interests of another Excluded Foreign Subsidiary and (y)
immaterial assets with a Fair Market Value not exceeding $25,000) or have any liabilities;
provided, that any Excluded Foreign Subsidiary may engage in those activities that are
incidental to (x) the maintenance or termination of its corporate existence in compliance with
applicable law and (y) legal, tax and accounting matters in connection with any of the foregoing
activities.

          (i) Holdings shall not permit any Unrestricted Wellbeing Joint Venture to engage in any
business other than the development, construction and operation of a well being
center/hotel/spa/conference center/studio and reasonably related extensions thereof (including the
promotion of nutritional education, production and distribution of nutrition- or health-oriented
programming on cable television and the sale of educational videos).

          (j) Notwithstanding the foregoing, Intermediate Holdco will not engage in any business and
will not own any significant assets (other than its ownership of the capital stock of the U.S.
Borrower and Corporate Holdco and Intercompany Notes evidencing intercompany loans permitted to be
made by it pursuant to Section 9.05) or have any liabilities (other than those liabilities for
which it is responsible under this Agreement, the Documents (including, without limitation, the
ABL Credit Documents) to which it is a party and any Intercompany Note

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evidencing an intercompany loan permitted to be incurred by it pursuant to Section 9.05);
provided that Intermediate Holdco may (i) engage in those activities associated with
expenses paid with Dividends made by the U.S. Borrower pursuant to Section 9.06(iv) and (ii)
engage in those activities that are incidental to (x) the maintenance of its corporate existence
in compliance with applicable law, (y) legal, tax and accounting matters in connection with any of
the foregoing activities and (z) the entering into, and performing its obligations under, this
Agreement and the other Documents to which it is a party.

          (k) Notwithstanding the foregoing, Corporate Holdco will not engage in any business and will
not own any significant assets or have any liabilities (other than those liabilities for which it
is responsible under this Agreement and the Documents (including, without limitation, the ABL
Credit Documents) to which it is a party); provided that Corporate Holdco may (i) engage
in those activities associated with expenses indirectly paid with Dividends made by the U.S.
Borrower pursuant to Section 9.06(iv) and (ii) engage in those activities that are incidental to
(x) the maintenance of its corporate existence in compliance with applicable law, (y) legal, tax
and accounting matters in connection with any of the foregoing activities and (z) the entering
into, and performing its obligations under, this Agreement and the other Documents to which it is
a party.

          9.02
Consolidation; Merger; Sale or Purchase of Assets; etc. No Credit Agreement
Party will, nor will permit any of its respective Subsidiaries to, wind up, liquidate or dissolve
its affairs or enter into any transaction of merger or consolidation, or convey, sell, lease or
otherwise dispose of all or any part of its property or assets, or enter into any sale-leaseback
transactions, or purchase or otherwise acquire (in one or a series of related transactions) any
part of the property or assets (other than purchases or other acquisitions of inventory, materials
and equipment in the ordinary course of business) of any Person or agree to do any of the
foregoing at any future time, except that the following shall be permitted:

     (i) the U.S. Borrower and its Subsidiaries may lease (as lessee) or license (as
licensee) real or personal property (including intellectual property) in the ordinary
course of business (so long as any such lease or license does not create a Capitalized
Lease Obligation);

     (ii) Capital Expenditures by the U.S. Borrower and its Subsidiaries;

     (iii) any Investments permitted pursuant to Section 9.05;

     (iv) the U.S. Borrower and its Subsidiaries may, in the ordinary course of business,
sell or otherwise dispose of assets (excluding capital stock of, or other Equity Interests
in, Subsidiaries and joint ventures) which, in the reasonable opinion of such Person, are
obsolete, uneconomic or worn-out;

     (v) the U.S. Borrower and its Subsidiaries may sell assets (other than (I) the capital
stock or other Equity Interests of any Wholly-Owned Subsidiary unless all of the capital
stock or other Equity Interests of such Wholly-Owned Subsidiary are sold in accordance with
this clause (v) and (II) assets subject to a Contemplated Asset Sale (which shall be
governed by Section 9.02(xviii)), so long as (v) no Default or Event of

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Default then exists or would result therefrom, (w) each such sale is in an arm’s-length transaction
and the U.S. Borrower or the respective Subsidiary receives at least Fair Market Value, (x) except
for customary post-closing adjustments (to be paid in cash within 180 days following the closing of
the respective sale or disposition), at least 75% of the total consideration received by the U.S.
Borrower or such Subsidiary is paid in cash at the time of the closing of such sale or disposition
(provided that sales of assets for aggregate consideration of $20,000,000 (taking the Fair
Market Value of any non-cash consideration) in any Fiscal Year of Holdings shall not be subject to
the minimum cash requirement set forth above in this subclause (x)), (y) the Net Sale Proceeds
therefrom are applied and/or reinvested as (and to the extent) required by Section 4.02(c) and (z)
the aggregate amount of the proceeds received from all assets sold pursuant to this clause (v)
shall not exceed $100,000,000 in any Fiscal Year of Holdings;

     (vi) each of the U.S. Borrower and its Subsidiaries may sell or discount, in each case
without recourse and in the ordinary course of business, overdue accounts receivable arising in
the ordinary course of business, but only in connection with the compromise or collection thereof
and not as part of any financing transaction;

     (vii) each of the U.S. Borrower and its Subsidiaries may grant licenses, sublicenses, leases
or subleases to other Persons not materially interfering with the conduct of the business of the
U.S. Borrower or any of its Subsidiaries, in each case so long as no such grant otherwise affects
the Collateral Agent’s security interest in the asset or property subject thereto;

     (viii) subject to Sections 9.01(c) and (d), transfers of assets (u) pursuant to the Foreign
Asset Transfer, (v) among the Qualified U.S. Obligors (other than Holdings, Intermediate Holdco
and Corporate Holdco), (w) among the Qualified Non-U.S. Obligors, (x) by any Subsidiary of the
U.S. Borrower to any Qualified U.S. Obligor (other than Holdings, Intermediate Holdco and
Corporate Holdco), (y) by any Foreign Subsidiary of the U.S. Borrower to any Qualified Non-U.S.
Obligor and (z) by any Foreign Subsidiary of the U.S. Borrower (other than a Qualified Non-U.S.
Obligor) to any Wholly-Owned Foreign Subsidiary of the U.S. Borrower, in the case of any such
transfer, so long as (I) no Specified Default and no Event of Default then exists or would exist
immediately after giving effect to the respective transfer, (II) any security interests granted to
the Collateral Agent for the benefit of the Secured Creditors pursuant to the relevant Security
Documents in the assets so transferred shall remain in full force and effect and perfected and
enforceable (to at least the same extent as in effect immediately prior to such transfer) and
(III) if the respective transferor is party to a Guaranty, the nature and scope of the obligations
of such transferor under its Guaranty are substantially identical to the nature and scope of the
obligations of the respective transferee under its Guaranty;

     (ix) subject to Sections 9.01(c) and (d), (x) any Domestic Subsidiary of the U.S. Borrower
may be merged, consolidated or liquidated with or into the U.S. Borrower (so long as the U.S.
Borrower is the surviving corporation of such merger, consolidation or liquidation) or any U.S.
Subsidiary Guarantor (so long as a U.S. Subsidiary Guarantor is the surviving corporation of such
merger, consolidation or liquidation), (y) any

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Qualified Non-U.S. Obligor may be merged, consolidated or liquidated with or into any other
Qualified Non-U.S. Obligor and (z) any Foreign Subsidiary of the U.S. Borrower (other than a
Qualified Non-U.S. Obligor) may be merged, consolidated or liquidated with or into any
Wholly-Owned Foreign Subsidiary of the U.S. Borrower, so long as such Wholly-Owned Foreign
Subsidiary is the surviving corporation of such merger, consolidation or liquidation;
provided that any such merger, consolidation or liquidation shall only be permitted
pursuant to this Section 9.02(ix), so long as (I) no Specified Default and no Event of Default
then exists or would exist immediately after giving effect thereto, (II) any security interests
granted to the Collateral Agent for the benefit of the Secured Creditors in the assets (and Equity
Interests) of any such Person subject to any such transaction shall remain in full force and
effect and perfected and enforceable (to at least the same extent as in effect immediately prior
to such merger, consolidation or liquidation) and (III) if the Person to be merged, consolidated
or liquidated into another Person as contemplated above is party to a Guaranty, the nature and
scope of the obligations of such Person under its Guaranty are substantially identical to the
nature and scope of the obligations of such other Person under its Guaranty;

     (x) subject to Sections 9.01(c) and (d), the U.S. Borrower and its Subsidiaries may transfer
inventory in a non-cash or cash transfer to Wholly-Owned Subsidiaries of the U.S. Borrower that are
not Qualified Obligors, in each case so long as (I) any such transfer is made in the ordinary
course of its business and consistent with past practice of the U.S. Borrower and its Subsidiaries
as in effect on the Effective Date, (II) if the respective transfer is being made to any Credit
Party, all actions needed to maintain the perfection, priority and enforceability of the security
interests, if any, of the Collateral Agent in the assets so transferred are taken at the time of
the respective transfer, (III) the U.S. Borrower reasonably determines that the transfer is not
reasonably likely to be adverse to the interests of the Lenders in any material respect and (IV) no
Specified Default and no Event of Default then exists or would exist immediately after giving
effect to the respective transfer;

     (xi) subject to Sections 9.01(c) and (d), so long as no Specified Default and no Event of
Default exists at the time of the respective transfer or immediately after giving effect thereto,
Qualified Obligors shall be permitted to transfer additional assets (other than inventory, cash,
Cash Equivalents and Equity Interests in any Credit Party) to other Subsidiaries of the U.S.
Borrower, so long as cash in an amount at least equal to the Fair Market Value of the assets so
transferred is received by the respective transferor;

     (xii) the U.S. Borrower and its Subsidiaries may sell or exchange specific items of
equipment, so long as the purpose of each such sale or exchange is to acquire (and results within
90 days of such sale or exchange in the acquisition of) replacement items of equipment which are
useful in a Permitted Business;

     (xiii) each of the Borrowers and the Subsidiary Guarantors shall be permitted to make
Permitted Acquisitions, so long as such Permitted Acquisitions are effected in accordance with the
requirements of Section 8.15;

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     (xiv) one or more Subsidiaries identified to the Agents may sell all of the Equity Interests
of a certain Subsidiary of the U.S. Borrower owned by such Subsidiaries and identified to the
Agents, so long as (v) no Default or Event of Default then exists or would result therefrom, (w)
each such sale is in an arm’s-length transaction and the respective Subsidiary receives at least
Fair Market Value, (x) except for customary post-closing adjustments, at least 20% of the total
consideration received by such Subsidiaries (in the aggregate) is paid in cash at the time of the
closing of such sale, (y) the Net Sale Proceeds therefrom are applied and/or reinvested as (and to
the extent) required by Section 4.02(c) and (z) the aggregate amount of the consideration (taking
the Fair Market Value of any non-cash consideration) received from all such sales pursuant to this
Section 9.02(xiv), together with the sale or sales made pursuant to Section 9.02(xx), shall not
exceed $50,000,000;

     (xv) the Sale-Lease Back Transaction;

     (xvi) each of the U.S. Borrower and its Subsidiaries may sell or liquidate Cash Equivalents,
in each case for cash at fair market value (as reasonably determined by the U.S. Borrower or the
respective Subsidiary);

     (xvii) the U.S. Borrower and its Subsidiaries may sell inventory to their respective
customers in the ordinary course of business;

     (xviii) each of the U.S. Borrower and its Subsidiaries may effect Contemplated Asset Sales, so
long as (i) no Event of Default then exists or would exist immediately after giving effect thereto,
(ii) each such sale is an arms’-length transaction and the U.S. Borrower or the respective
Subsidiary receives at least Fair Market Value, (iii) the consideration therefor consists solely of
cash and/or Permitted Installment Notes (to the extent same may be issued in accordance with the
definition thereof), (iv) at least 50% of the total consideration received by the U.S. Borrower or
such Subsidiary is paid in cash at the time of the closing of such sale, and (v) the Net Sale
Proceeds therefrom are applied as, and to the extent, required by Section 4.02(c);

     (xix) the U.S. Borrower and its Domestic Subsidiaries may sell and leaseback (i) Real
Property located in Gaston County, North Carolina (the “Gaston Property’’), to the extent same is
not a Principal Property and (ii) Principal Properties, so long as (v) no Default or Event of
Default then exists or would result therefrom, (w) each such sale is made pursuant to an
arm’s-length transaction, (x) 100% of the total consideration received by the U.S. Borrower or
such Subsidiary is paid in cash at the time of the closing of such sale, (y) the Net Sale Proceeds
therefrom equal at least 90% of the Fair Market Value of the Property subject to such
sale-leaseback transaction and (z) the Net Sale Proceeds therefrom are applied as a mandatory
repayment and/or commitment reduction and/or reinvested, in any case, in accordance with the
requirements of Section 4.02(c); and

     (xx) certain Domestic Subsidiaries identified to the Agents which own Real Property located
in California may sell Real Property and other assets, in each case, so long as (v) no Default or
Event of Default then exists or would result therefrom, (w) each

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such sale is in an arm’s-length transaction and the respective Subsidiary receives at least
Fair Market Value, (x) except for customary post-closing adjustments, at least 75% of the
total consideration received by such Subsidiaries (in the aggregate) is paid in cash at the
time of the closing of such sale, (y) unless on-loaned to an Affiliate of the U.S. Borrower
in accordance with the requirements of Section 9.05 and 9.07 promptly following the
consummation of such sale, any Net Sale Proceeds therefrom received by a Subsidiary of the
U.S. Borrower (exclusive of any portion thereof which is distributed to a minority
shareholder of such Subsidiary in accordance with the requirements of Section 9.06) are
applied and/or reinvested as (and to the extent) required by Section 4.02(c) and (z) the
aggregate amount of the consideration (taking the Fair Market Value of any non-cash
consideration) received from such sale or sales pursuant to this Section 9.02(xx), together
with the sale or sales made pursuant to Section 9.02(xiv), shall not exceed $50,000,000 (the
“California Disposition”).

Notwithstanding anything to the contrary contained above in this Section 9.02, in no event shall
Holdings or any of its Subsidiaries enter into any sale-leaseback transactions, except in
accordance with Sections 9.02(xv) and (xix) above. The foregoing provisions of this Section 9.02
are subject to continued compliance by the Credit Agreement Parties and their Subsidiaries with
the requirements of Sections 8.18, 9.01 and 9.11. To the extent the Required Lenders waive the
provisions of this Section 9.02 with respect to the sale or other disposition of any Collateral,
or any Collateral is sold or otherwise disposed of as permitted by this Section 9.02, such
Collateral (unless transferred to Holdings or a Subsidiary thereof) shall be sold or otherwise
disposed of free and clear of the Liens created by the Security Documents and the Administrative
Agent shall take such actions (including, without limitation, directing the Collateral Agent to
take such actions) as are appropriate in connection therewith.

          9.03 Liens. No Credit Agreement Party will, nor will permit any of its Subsidiaries
to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or
assets of any kind (real or personal, tangible or intangible) of Holdings or any of its
Subsidiaries, whether now owned or hereafter acquired, or sell any such property or assets subject
to an understanding or agreement, contingent or otherwise, to repurchase such property or assets
(including sales of accounts receivable or notes with recourse to Holdings or any of its
Subsidiaries) or assign any right to receive income or permit the filing of any financing
statement under the UCC or any other similar notice of Lien under any similar recording or notice
statute; provided that the provisions of this Section 9.03 shall not prevent the creation,
incurrence, assumption or existence of the following (Liens described below are herein referred to
as “Permitted Liens”):

     (i) inchoate Liens for taxes, assessments or governmental charges or levies not yet
due and payable or Liens for taxes, assessments or governmental charges or levies being
contested in good faith and by appropriate proceedings for which adequate reserves have
been established in accordance with U.S. GAAP;

     (ii) Liens in respect of property or assets of the U.S. Borrower or any of its
Subsidiaries imposed by law which were incurred in the ordinary course of business and
which have not arisen to secure Indebtedness for borrowed money, such as carriers’,
warehousemen’s and mechanics’ Liens, statutory landlord’s Liens, maritime Liens and

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other similar Liens arising in the ordinary course of business, and which either (x) do not in the
aggregate materially detract from the value of such property or assets or materially impair the
use thereof in the operation of the business of the U.S. Borrower or any of its Subsidiaries or
(y) are being contested in good faith by appropriate proceedings, which proceedings have the
effect of preventing the forfeiture or sale of the property or asset subject to such Lien;

     (iii) (x) Liens created by or pursuant to this Agreement and the Security Documents (it being
understood and agreed that the obligations under or relating to the Intermediate Holdco Credit
Documents may be secured by the Intermediate Holdco Collateral pursuant to the U.S. Pledge
Agreement, on a “second-priority” basis to the TL Obligations (as defined in the U.S. Pledge
Agreement), all in accordance with the terms of the U.S. Pledge Agreement) and (y) Liens (but only
on Collateral of the U.S. Credit Parties) created by or pursuant to the ABL Credit Agreement and
the ABL Security Documents, securing Indebtedness incurred pursuant to clause (xvii) of Section
9.04(b), in favor of the ABL Collateral Agent for the benefit of the ABL Secured Creditors, as in
effect on the date hereof and as amended, supplemented or modified from time to time in accordance
with the terms of the Intercreditor Agreement;

     (iv) Liens in existence on the Restatement Effective Date which are listed, and the property
subject thereto described, in Schedule IX, but only to the respective date, if any, set forth in
such Schedule IX for the removal, replacement and termination of any such Liens, plus
renewals, replacements and extensions of such Liens, provided that (x) the aggregate
principal amount of the Indebtedness, if any, secured by such Liens does not increase from that
amount outstanding at the time of any such renewal, replacement or extension and (y) any such
renewal, replacement or extension does not encumber any additional assets or properties of the U.S.
Borrower or any of its Subsidiaries;

     (v) Liens (x) arising from judgments, decrees or attachments in circumstances not
constituting an Event of Default under Section 10.09, (y) arising in connection with the deposit
or payment of cash or other Property with or to any court or other governmental authority in
connection with any pending claim or litigation and (z) arising in connection with the deposit of
cash or other Property in connection with the issuance of stay and appeal bonds, provided
that the Fair Market Value of all Property (including cash) subject to Liens pursuant to this
clause (v) (whether pledged, paid, deposited or otherwise) shall not exceed at any time the sum of
(1) $75,000,000 (net of any insurance proceeds actually received (and not returned) by the U.S.
Borrower and its Subsidiaries in connection therewith) plus (2) in the case of Properties
of Subsidiaries of the U.S. Borrower located outside the United States and subject to a Lien
pursuant to this clause (v), an additional $50,000,000 (net of any insurance proceeds actually
received (and not returned) by the U.S. Borrower and its Subsidiaries in connection therewith), if
(and only if), in the case of this sub-clause (2), the U.S. Borrower shall have caused to be
delivered to the Administrative Agent an opinion of counsel in form and substance, and from
counsel, reasonably satisfactory to the Administrative Agent to the effect that such counsel
expects a favorable judicial outcome with respect to the judgment, decree, attachment, claim or
litigation that gave rise to the Lien on the respective Property, provided, further,
however, that (I) in no event shall the Fair Market Value of all Property

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(including cash) of Holdings and its Subsidiaries located in the United States and subject to
Liens pursuant to this clause (v) (whether pledged, paid, deposited or otherwise) exceed
$25,000,000 at any time and (II) in the case of any non-consensual attachment on the Property of
any Subsidiary of the U.S. Borrower located outside the United States, the Fair Market Value of
such Property shall not be included for purposes of calculating compliance with the immediately
preceding proviso;

     (vi) Liens (other than any Lien imposed by ERISA) (x) incurred or deposits made in the
ordinary course of business of the U.S. Borrower and its Subsidiaries in connection with workers’
compensation, unemployment insurance and other types of social security, (y) to secure the
performance by the U.S. Borrower and its Subsidiaries of tenders, statutory obligations (other than
excise taxes not described in Section 9.03(i)), surety and customs bonds, statutory bonds, bids,
leases, government contracts, trade contracts, performance and return of money bonds and other
similar obligations (exclusive of (I) obligations for the payment of borrowed money and (II) stay
and appeal bonds and other obligations described in Section 9.03(v) above) or (z) to secure the
performance by the U.S. Borrower and its Subsidiaries of leases of Real Property, to the extent
incurred or made in the ordinary course of business consistent with past practices,
provided that the aggregate Fair Market Value of all Property pledged or deposited at any
time pursuant to preceding sub-clauses (y) and (z) shall not exceed $25,000,000 in the aggregate
(it being understood that letters of credit and bank guaranties issued in support of customs bonds,
licensing arrangements and similar obligations do not constitute Property pledged or deposited to
support such obligations);

     (vii) licenses, sublicenses, leases or subleases granted to third Persons in the ordinary
course of business not interfering in any material respect with the business of the U.S. Borrower
or any of its Subsidiaries;

     (viii) (x) Permitted Encumbrances and (y) easements, rights-of-way, restrictions,
encroachments, municipal and zoning ordinances and other similar charges or encumbrances, and
minor title deficiencies, in each case not securing Indebtedness and not materially interfering
with the conduct of the business of Holdings or any of its Subsidiaries;

     (ix) Liens arising from or related to precautionary UCC financing statements regarding
operating leases entered into by the U.S. Borrower and its Subsidiaries in the ordinary course of
business;

     (x) Liens upon assets of the U.S. Borrower or any of its Subsidiaries subject to Capitalized
Lease Obligations permitted pursuant to Section 9.04(b)(iv), provided that (x) such Liens
only serve to secure the payment of Indebtedness arising under such Capitalized Lease Obligation
and (y) the Lien encumbering the asset giving rise to the Capitalized Lease Obligation does not
encumber any other asset of the U.S. Borrower or any of its Subsidiaries;

     (xi) Liens arising pursuant to purchase money mortgages or security interests securing
Indebtedness representing the purchase price (or financing of the purchase price

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within 30 days after the respective purchase) of assets acquired after the Restatement Effective
Date by the U.S. Borrower and its Subsidiaries, provided that (x) any such Liens attach
only to the assets so purchased, (y) the Indebtedness secured by any such Lien does not exceed
100% of the Fair Market Value or the purchase price of the property being purchased at the time of
the incurrence of such Indebtedness and (z) the Indebtedness secured thereby is permitted to be
incurred pursuant to Section 9.04(b)(iv);

     (xii) Liens on property or assets acquired pursuant to a Permitted Acquisition, or on
property or assets of a Subsidiary of the U.S. Borrower in existence at the time such Subsidiary
is acquired pursuant to a Permitted Acquisition, provided that (i) any Indebtedness that
is secured by such Liens is permitted to exist under Section 9.04(b)(vi) and (ii) such Liens are
not incurred in connection with, or in contemplation or anticipation of, such Permitted
Acquisition and do not attach to any other asset of the U.S. Borrower or any of its Subsidiaries;

     (xiii) restrictions imposed in the ordinary course of business and consistent with past
practices on the sale or distribution of designated inventory pursuant to agreements with
customers under which such inventory is consigned by the customer or such inventory is designated
for sale to one or more customers;

     (xiv) Liens in favor of customs or revenue authorities arising as a matter of law to secure
payment of customs duties in connection with the importation of goods;

     (xv) bankers’ liens, rights of setoff and other similar liens existing solely with respect to
cash and Cash Equivalents on deposit in one or more of the accounts described below, in each case
granted in the ordinary course of business in favor of the bank or banks with which the accounts
are maintained, securing amounts owing to such bank with respect to cash management and operating
account arrangements, including those involving pooled accounts and netting arrangements,
provided that in no case shall any such Liens secure (either directly or indirectly) the
repayment of any Indebtedness;

     (xvi) Liens securing Permitted Refinancing Indebtedness permitted pursuant to Section
9.04(b)(vii) to the extent such Liens comply with clause (b)(ii) of the definition of Permitted
Refinancing Indebtedness;

     (xvii) Liens on the assets of a Foreign Subsidiary (other than the Bermuda Partnership) which
is not a Foreign Credit Party securing Indebtedness incurred by such Foreign Subsidiary in
accordance with the terms of Section 9.04(b)(viii);

     (xviii) Liens over promissory notes evidencing grower loans pledged in favor of financial
institutions securing Indebtedness permitted to be incurred pursuant to clause (x) of Section
9.04(b)(xix);

     (xix) other Liens of the U.S. Borrower or any Subsidiary of the U.S. Borrower that (x) were
not incurred in connection with borrowed money, (y) do not encumber any Property of the U.S.
Borrower or any of its Subsidiaries the Fair Market Value of which exceeds the amount of the
Indebtedness or other obligations secured by such Property or materially impair the use of such
Property in the operation of the business of the U.S.

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Borrower or such Subsidiary and (z) do not secure obligations in excess of $100,000,000 in
the aggregate for all such Liens; and

     (xx) until the Intermediate Holdco Prepayment Consummation, Liens may be created (and
exist) on the Intermediate Holdco Prepayment Funds (and proceeds thereof) in favor of the
Intermediate Holdco Paying Agent to secure the repayment of the Intermediate Holdco
Indebtedness as required pursuant to Sections 5.08 and 8.21 hereof.

In connection with the granting of Liens of the type described in clauses (iv), (x), (xi), (xii),
(xvi), (xvii), (xix) and (xx) of this Section 9.03 by the U.S. Borrower or any of its
Subsidiaries, the Administrative Agent and the Collateral Agent shall be authorized, at the
request of any Credit Agreement Party, to take any actions deemed appropriate by it in connection
therewith (including, without limitation, by executing appropriate lien releases or lien
subordination agreements in favor of the holder or holders of such Liens, in either case solely
with respect to the assets subject to such Liens).

          9.04 Indebtedness. (a) No Credit Agreement Party
will, nor will permit any of its
Subsidiaries to, contract, create, incur, assume or suffer to exist (collectively, “incur”) any
Indebtedness; provided, however, that the U.S. Borrower and each Domestic Subsidiary of the
U.S. Borrower which is a U.S. Credit Party may incur Indebtedness (which may be guaranteed by any
U.S. Credit Party) so long as: (i) the Total Leverage Ratio at such time does not exceed 5.50:1.00;
(ii) the Senior Secured Leverage Ratio at such time does not exceed 3.00:1.00 (in each case, both
immediately prior to the incurrence of such Indebtedness and immediately after giving effect
thereto); and (iii) no Default or Event of Default then exists or would exist immediately after the
respective incurrence.

          (b) The foregoing limitations in Section 9.04(a) will not apply to the following (each, a
“Permitted Indebtedness”):

     (i) Indebtedness incurred pursuant to this Agreement and the other Credit Documents;

     (ii) Scheduled Existing Indebtedness outstanding on the Restatement Effective Date and
listed on Schedule IV, without giving effect to any subsequent extension, renewal or
refinancing thereof, except that Scheduled Existing Indebtedness may be refinanced through
one or more issuances of Permitted Refinancing Indebtedness in accordance with Section
9.04(b)(vii) below;

     (iii) Indebtedness of (x) the Borrowers under Interest Rate Protection Agreements
entered into to protect them against fluctuations in interest rates in respect of
Indebtedness otherwise permitted under this Agreement and (y) Holdings under an Interest
Rate Protection Agreement entered into to protect it against fluctuations in interest rates
in respect of the Wellbeing Project Financing, in each case, so long as the entering into
of such Interest Rate Protection Agreements are bona fide hedging activities and
are not for speculative purposes;

     (iv) Capitalized Lease Obligations and Indebtedness of the U.S. Borrower and its
Subsidiaries representing purchase money Indebtedness secured by Liens permitted

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pursuant to Section 9.03(xi), provided that the sum of (x) the aggregate Capitalized Lease
Obligations outstanding at any time plus (y) the aggregate principal amount of such
purchase money Indebtedness outstanding at any time shall not exceed $25,000,000;

     (v) intercompany Indebtedness of (w) the U.S. Borrower and its Subsidiaries to the extent
permitted by Sections 9.05(vi) and (xvii), (x) the U.S. Borrower owed to Intermediate Holdco to
the extent permitted by Section 9.05(xxii), (y) Intermediate Holdco owed to the U.S. Borrower or
Holdings to the extent permitted by Section 9.05(xxi) or (xxii), as the case may be, and (z)
Holdings owed to Intermediate Holdco to the extent permitted by Section 9.05(xxi);

     (vi) Indebtedness of a Subsidiary of the U.S. Borrower acquired pursuant to a Permitted
Acquisition (or Indebtedness assumed at the time of a Permitted Acquisition of an asset securing
such Indebtedness) (such Indebtedness, “Permitted Acquired Debt”), provided that (x) such
Indebtedness was not incurred in connection with, or in anticipation or contemplation of, such
Permitted Acquisition and (y) the aggregate principal amount of all Indebtedness outstanding
pursuant to this Section 9.04(b) (vi) at any time (exclusive of any such Indebtedness held by a
Qualified Obligor which is not guaranteed by Holdings or any of its other Subsidiaries and is not
secured by a Lien on any Property of Holdings or any of its Subsidiaries), when added to the
aggregate principal amount of Permitted Refinancing Indebtedness outstanding pursuant to Section
9.04(b)(vii) at any time (except to the extent incurred to refinance Scheduled Existing
Indebtedness or Permitted Acquired Debt held by a Qualified Obligor which is not guaranteed by
Holdings or any of its other Subsidiaries and is not secured by a Lien on any Property of Holdings
or any of its Subsidiaries and successive refinancings of the foregoing), shall not exceed
$50,000,000;

     (vii) Permitted Refinancing Indebtedness, so long as (x) no Specified Default or Event of
Default is in existence at the time of the incurrence of such Permitted Refinancing Indebtedness
and immediately after giving effect thereto and (y) the aggregate principal amount of Permitted
Refinancing Indebtedness outstanding pursuant to this Section 9.04(b)(vii) at any time (except to
the extent incurred to refinance Scheduled Existing Indebtedness or Permitted Acquired Debt held
by a Qualified Obligor which is not guaranteed by Holdings or any of its other Subsidiaries and is
not secured by a Lien on any Property of Holdings or any of its Subsidiaries and successive
refinancings of the foregoing), when added to the aggregate principal amount of Permitted Acquired
Debt outstanding pursuant to Section 9.04(b)(vi) at any time (exclusive of any such Indebtedness
held by a Qualified Obligor which is not guaranteed by Holdings or any of its other Subsidiaries
and is not secured by a Lien on any Property of Holdings or any of its Subsidiaries), shall not
exceed $50,000,000;

     (viii) Indebtedness of Foreign Subsidiaries of the U.S. Borrower (other than the Bermuda
Partnership) under lines of credit to any such Foreign Subsidiary from Persons other than Holdings
or any of its Subsidiaries, the proceeds of which Indebtedness are used for such Foreign
Subsidiary’s working capital and other general corporate purposes, provided that the
aggregate principal amount of all such Indebtedness outstanding at any time for all such Foreign
Subsidiaries shall not exceed $50,000,000;

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     (ix) Indebtedness of Holdings under Shareholder Subordinated Notes issued pursuant to Section
9.06(ii), so long as the aggregate outstanding principal amount of Shareholder Subordinated Notes
does not at any time exceed $5,000,000;

     (x) additional unsecured Indebtedness of the U.S. Borrower consisting of unsecured guarantees
by such Borrower of (x) obligations (which guaranteed obligations do not themselves constitute
Indebtedness) of one or more Wholly-Owned Subsidiaries of the U.S. Borrower, (y) leases pursuant
to which one or more Wholly-Owned Subsidiaries of the U.S. Borrower are the respective lessees and
(z) Indebtedness of Wholly-Owned Subsidiaries of the U.S. Borrower of the type permitted pursuant
to Section 9.04(b)(xiv);

     (xi) Indebtedness arising from the honoring by a bank or other financial institution of a
check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn
against insufficient funds in the ordinary course of business, so long as such Indebtedness is
extinguished within five Business Days of the incurrence thereof;

     (xii) Indebtedness in respect of (x) Other Hedging Agreements to the extent permitted by
clause (x) of Section 9.05(xii) and (y) Commodity Agreements to the extent permitted by clause (y)
of Section 9.05(xii);

     (xiii) (x) Indebtedness of the U.S. Borrower or any of its Subsidiaries evidenced by
completion guarantees and performance and surety bonds (but excluding appeal, performance and
other bonds and/or guaranties issued in respect of obligations arising in connection with
litigation) incurred in the ordinary course of business for purposes of insuring the performance
of the U.S. Borrower or such Subsidiary in an aggregate amount not to exceed $50,000,000 at any
time outstanding and (y) Indebtedness of the U.S. Borrower or any of its Subsidiaries evidenced by
appeal, performance and other bonds and/or guaranties issued in respect of obligations arising in
connection with litigation for purposes of insuring the performance of the U.S. Borrower or such
Subsidiary in an aggregate amount not to exceed $50,000,000 at any time outstanding;

     (xiv) Indebtedness of the U.S. Borrower or any Subsidiary of the U.S. Borrower arising from
agreements of the U.S. Borrower or a Subsidiary of the U.S. Borrower providing for
indemnification, adjustment of purchase price or other similar obligations, in each case, incurred
or assumed in connection with the disposition of any business, assets or a Subsidiary of the U.S.
Borrower permitted under this Agreement (other than guarantees of Indebtedness incurred by any
Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of
financing such acquisition), provided that the maximum assumable liability (as measured by
the reserves reasonably established on such Person’s financial statements) in respect of all such
Indebtedness shall at no time exceed the gross proceeds actually received by the U.S. Borrower and
its Subsidiaries in connection with such dispositions;

     (xv) unsecured Indebtedness of the U.S. Borrower evidenced by a guaranty of the Indebtedness
or other obligations of any other Person (including Indebtedness of

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Foreign Subsidiaries permitted pursuant to Section 9.04(b)(viii) above), so long as the aggregate
amount of the Contingent Obligations of the U.S. Borrower pursuant to this Section 9.04(b)(xv)
does not exceed $25,000,000 at any time;

     (xvi)
(I) unsecured Indebtedness of the U.S. Borrower incurred under the Existing 2011 Senior
Notes and the Existing 2011 Senior Notes Indenture and of the U.S. Subsidiary Guarantors (and so
long as same remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of the
obligations of the U.S. Borrower provided under the Existing 2011 Senior Notes Documents to which
they are a party, in an aggregate principal amount not to exceed $200,000,000 (less the amount of
any repayments of principal thereof after the Restatement Effective Date), (II) unsecured
Indebtedness of the U.S. Borrower incurred under the Existing 2009 Senior Notes and the Existing
2009 Notes Indenture and of the U.S. Subsidiary Guarantors (and so long as same remain U.S.
Subsidiary Guarantors) under senior subordinated guarantees of the obligations of the U.S. Borrower
provided under the Existing 2009 Senior Notes Documents to which they are a party, in an aggregate
principal amount not to exceed $350,000,000 (less the amount of any repayments of principal thereof
after the Restatement Effective Date), (III) unsecured
Indebtedness of the U.S. Borrower incurred
under the Existing 2013 Senior Notes and the Existing 2013 Notes Indenture and of the U.S.
Subsidiary Guarantors (and so long as same remain U.S. Subsidiary Guarantors) under senior
subordinated guarantees of the obligations of the U.S. Borrower provided under the Existing 2013
Senior Notes Documents to which they are a party, in an aggregate principal amount not to exceed
$155,000,000 (less the amount of any repayments of principal thereof after the Restatement
Effective Date), (IV) unsecured Indebtedness of the U.S. Borrower incurred under Permitted Senior
Notes and the other Permitted Senior Notes Documents and of the U.S. Subsidiary Guarantors (and so
long as same remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of the
obligations of the U.S. Borrower provided under the Permitted Senior Notes Documents to which they
are a party, so long as such Indebtedness is incurred in accordance with the requirements of the
definition of Permitted Senior Notes, (V) unsecured Indebtedness
of the U.S. Borrower incurred under
the Existing 2010 Senior Notes and the Existing 2010 Senior Notes Indenture and of the U.S.
Subsidiary Guarantors (and so long as same remain U.S. Subsidiary Guarantors) under senior
subordinated guarantees of the obligations of the U.S. Borrower provided under the Existing 2010
Senior Notes Documents to which they are a party, in an aggregate principal amount not to exceed
$400,000,000 (less the amount of any repayments of principal thereof after the Restatement
Effective Date) and (VI) on or prior to the Intermediate Holdco Prepayment Date, Indebtedness of
Intermediate Holdco and Corporate Holdco under the Intermediate Holdco Credit Documents in an
aggregate principal amount at any time outstanding not to exceed $150,000,000 (as such amount may
be reduced by any repayments of principal of the Intermediate Holdco Indebtedness), and (VII)
unsecured Indebtedness of the U.S. Borrower incurred under the Permitted Refinancing Senior Notes
and the other Permitted Refinancing Senior Notes Documents and of the U.S. Subsidiary Guarantors
(and so long as same remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of the
obligations of the U.S. Borrower provided under the Permitted Refinancing Senior Notes Documents to
which they are a party, so long as such Indebtedness is incurred in accordance with the
requirements of the definition of Permitted Refinancing Senior Notes;

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     (xvii) Holdings, Intermediate Holdco, the U.S. Borrower and the U.S. Subsidiary
Guarantors may incur and remain liable with respect to the Indebtedness under the ABL
Credit Agreement and the other ABL Credit Documents; provided, however, that the
aggregate principal amount of Indebtedness thereunder shall not exceed (as measured on each
date of incurrence pursuant to this clause (xvii)) the greater of (I) $400,000,000 and (II)
the sum of (x) 80% of the net book value of the accounts receivable of the U.S. Borrower
and its Domestic Subsidiaries and (y) 60% of the net book value of the inventory of the
U.S. Borrower and its Domestic Subsidiaries , with any determinations pursuant to this
clause (II) to be made on the date of each incurrence of Indebtedness pursuant to this
clause (II) based on the most recent financial statements that are available to the U.S.
Borrower;

     (xviii) Indebtedness of Foreign Subsidiaries of the U.S. Borrower under bank
guaranties and letters of credit issued by financial institutions (on behalf of such
Foreign Subsidiaries) in an aggregate amount not to exceed $50,000,000 at any time;

     (xix) (x) Indebtedness of Foreign Subsidiaries incurred in connection with grower loan
programs in an aggregate principal amount not to exceed $50,000,000 at any time outstanding
and (y) unsecured Indebtedness of the U.S. Borrower evidenced by a guaranty of Indebtedness
permitted pursuant to preceding subclause (x) of this Section 9.04(b)(xix);

     (xx) Indebtedness of the U.S. Borrower or any of its Subsidiaries incurred in
connection with vehicle inventory loans in an aggregate principal amount not to exceed
$5,000,000 at one time outstanding;

     (xxi) Indebtedness of the U.S. Borrower which may be deemed to exist under its
non-qualified excess savings plan for employees;

     (xxii) Indebtedness of Holdings under the Wellbeing Project Financing Documents in an
aggregate principal amount at any time outstanding not to exceed the Wellbeing Project
Financing Debt Cap Amount at such time, so long as (A) such Indebtedness is incurred in
accordance with the requirements of the definition of “Wellbeing Project Financing” and (B)
no Default or Event of Default is in existence at the time of the respective incurrence of
such Wellbeing Project Financing and immediately after giving effect thereto; and

     (xxiii) additional unsecured Indebtedness of the U.S. Borrower and its Subsidiaries
(other than the Bermuda Partnership Partners and the Bermuda Partnership) not otherwise
permitted hereunder not exceeding $100,000,000 in aggregate principal amount at any time
outstanding, provided that no such additional Indebtedness shall be incurred at any
time a Default or Event of Default then exists or would result therefrom.

          In addition, notwithstanding anything to the contrary contained above in clauses (a) and (b)
of this Section 9.04, (x) in no event shall any Subsidiary of Holdings guarantee any Indebtedness
of Holdings under any Wellbeing Project Financing Document or incur any other obligation under, or
with respect to, any Wellbeing Project Financing Document having any

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element of recourse to such Subsidiary or to such Subsidiary’s assets or properties and (y)
Holdings shall not permit any Unrestricted Wellbeing Joint Venture to incur any Indebtedness or
any other obligation having any element of recourse to any Subsidiary of Holdings or to any assets
or properties of any Subsidiary of Holdings.

          9.05 Advances; Investments; Loans. No Credit Agreement Party will, nor will permit
any of its Subsidiaries to, directly or indirectly, lend money or extend credit or make advances
to any Person, or purchase or acquire any stock, obligations or securities of, or any other Equity
Interest in, or make any capital contribution to, any Person, or purchase or own a futures
contract or otherwise become liable for the purchase or sale of currency or other commodities at a
future date in the nature of a futures contract, or hold any cash or Cash Equivalents (each of the
foregoing an “Investment” and, collectively, “Investments”), except:

     (i) (w) the U.S. Borrower and its Subsidiaries may acquire and hold cash and Cash
Equivalents; (x) Intermediate Holdco may hold cash and Cash Equivalents (I) in a de
minimis amount representing proceeds from the initial capital contribution made in
connection with its formation and (II) representing the proceeds of any Indebtedness
permitted to be incurred, or Dividends permitted to be received, by it pursuant to the
terms of this Agreement, so long as (in the case of preceding subclause (II)) Intermediate
Holdco utilizes such cash and/or Cash Equivalents within the time periods required, and for
the purposes permitted, by this Agreement, (y) Corporate Holdco may hold cash and Cash
Equivalents in a de minimis amount representing proceeds from the initial
capital contribution made in connection with its formation and (z) Holdings may hold cash
and Cash Equivalents (I) in a de minimis amount representing proceeds from
the initial capital contribution made in connection with its formation and (II)
representing the proceeds of any Indebtedness permitted to be incurred, or Dividends
permitted to be received, by it pursuant to the terms of this Agreement (including cash and
Cash Equivalents held by Holdings representing proceeds from the Wellbeing Project
Financing), so long as (in the case of preceding subclause (II)) Holdings utilizes such
cash or Cash Equivalents within the time periods required, and for the purposes permitted,
by this Agreement;

     (ii) the U.S. Borrower and its Subsidiaries may acquire and hold receivables owing to
it, if created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms (including the dating of receivables) of the U.S.
Borrower or such Subsidiary;

     (iii) the U.S. Borrower and its Subsidiaries may acquire and own investments
(including debt obligations) received in connection with the bankruptcy or reorganization
of suppliers, trade creditors, licensees, licensors and customers and in good faith
settlement of delinquent obligations of, and other disputes with, suppliers, trade
creditors, licensees, licensors and customers arising in the ordinary course of business;

     (iv) Interest Rate Protection Agreements entered into in compliance with Section
9.04(b)(iii) shall be permitted;

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     (v) (x) Investments constituting Intercompany Scheduled Existing Indebtedness in existence on
the Restatement Effective Date (and any refinancings thereof permitted pursuant to Section
9.04(b)(vii) and consistent with the definition of Permitted Refinancing Indebtedness) and (y) such
other Investments in existence on the Restatement Effective Date and listed on Schedule VI (without
giving effect to any additions thereto or replacements thereof); provided that any
additional Investments made with respect to the Investments described in preceding subclause (y) of
this Section 9.05(v) shall be permitted only if independently justified under the other provisions
of this Section 9.05;

     (vi) (u) Qualified U.S. Obligors (other than Holdings, Intermediate Holdco and Corporate
Holdco) may make intercompany loans to each other, (v) Qualified Non-U.S. Obligors may make
intercompany loans to each other, (w) Qualified U.S. Obligors (other than Holdings, Intermediate
Holdco and Corporate Holdco) may make intercompany loans to any Qualified Non-U.S. Obligor, (x)
Qualified Obligors and Foreign Subsidiary Guarantors that are not Qualified Obligors may make
intercompany loans to any Foreign Subsidiary of the U.S. Borrower that is not a Qualified Obligor,
(y) any Wholly-Owned Foreign Subsidiary of the U.S. Borrower may make intercompany loans to any
Qualified Obligor and (z) Non-Guarantor Subsidiaries may make intercompany loans to each other and
to any Foreign Credit Party, provided that (I) unless the respective obligor under such
intercompany loan reasonably determines that the execution, delivery and performance of an
Intercompany Note is prohibited by, or that such Intercompany Note would not be enforceable against
such obligor under, applicable local law, any such intercompany loan made pursuant to this Section
9.05(vi) (other than any such loan made to a Non-Wholly Owned Subsidiary) shall be evidenced by an
Intercompany Note, (II) at no time shall the aggregate outstanding principal amount of all such
intercompany loans made pursuant to subclause (w) of this Section 9.05(vi) above (exclusive of
loans made to Qualified Non-U.S. Obligors which are promptly on-lent by such Qualified Non-U.S.
Obligors to Foreign Subsidiaries that are not Qualified Obligors in reliance on subclause (x)
above), when added to the aggregate amount of capital contributions made pursuant to (and in
reliance on) Section 9.05(viii)(y) (for this purpose, taking the Fair Market Value of any Property
(other than cash) so contributed at the time of such contribution), exceed $200,000,000 (determined
without regard to write-downs or write-offs thereof), (III) at no time shall the aggregate
outstanding principal amount of all such intercompany loans made pursuant to subclause (x) of this
Section 9.05(vi) above (determined without regard to write-downs or write-offs thereof), when added
to the aggregate amount of capital contributions made pursuant to (and in reliance on) Section
9.05(viii)(z) (for this purpose, taking the Fair Market Value of any Property (other than cash) so
contributed at the time of such contribution), exceed $150,000,000, (IV) no intercompany loans may
be made pursuant to subclause (w) or (x) of this Section 9.05(vi) at any time any Specified Default
or any Event of Default is in existence (or would be in existence after giving effect thereto), (V)
subject to the exception specified in the proviso to Section 9.01 (g), each intercompany loan made
pursuant to this Section 9.05(vi) shall be subject to subordination as, and to the extent required
by, the Intercompany Subordination Agreement and (VI) any intercompany loans made pursuant to this
Section 9.05(vi) shall cease to be permitted hereunder if the obligor or obligee thereunder ceases
to constitute a Qualified Obligor or a Foreign Subsidiary of the U.S. Borrower as contemplated
above;

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     (vii) (x) loans by the U.S. Borrower and its Subsidiaries to officers, employees and
directors of Holdings and its Subsidiaries for bona fide business purposes, in
each case incurred in the ordinary course of business, in an aggregate outstanding principal
amount not to exceed $5,000,000 at any time outstanding (determined without regard to any
write-downs or write-offs of such loans and advances) shall be permitted and (y) advances of
reimbursable expenses by the U.S. Borrower and its Subsidiaries to officers, employees and
directors of Holdings and its Subsidiaries for bona fide purposes, in each case incurred
in the ordinary course of business;

     (viii) (u) any Wholly-Owned Foreign Subsidiary of the U.S. Borrower may make capital
contributions to any Qualified Obligor, (v) any Qualified U.S. Obligor may make capital
contributions to any of its direct Wholly-Owned Subsidiaries that is a Qualified U.S. Obligor, (w)
any Qualified Non-U.S. Obligor may make capital contributions to any of its direct Wholly-Owned
Subsidiaries that is a Qualified Non-U.S. Obligor, (x) any Non-Guarantor Subsidiary may make
capital contributions to any of its direct Wholly-Owned Subsidiaries that is a Non-Guarantor
Subsidiary or a Foreign Credit Party, (y) any Qualified U.S. Obligor may make capital contributions
to any of its direct Wholly-Owned Subsidiaries that is Qualified Non-U.S. Obligor and (z) any
Qualified Obligor and any Foreign Subsidiary Guarantor that is not a Qualified Obligor may make
capital contributions to any of their respective direct Foreign Subsidiaries that is not a
Qualified Obligor; provided that (I) at no time shall the aggregate amount of the capital
contributions made pursuant to subclause (y) of this Section 9.05(viii) (for this purpose, (1)
taking the Fair Market Value of any Property (other than cash) so contributed at the time of such
contribution and (2) excluding capital contributions made to a Qualified Non-U.S. Obligor which are
promptly contributed, in turn, to a Foreign Subsidiary of such Qualified Non-U.S. Obligor that is
not a Qualified Obligor in reliance on subclause (z) above), when added to the aggregate
outstanding principal amount of all intercompany loans made pursuant to subclause (w) of Section
9.05(vi) above (determined without regard to write-downs or write-offs thereof), exceed
$200,000,000, (II) at no time shall the aggregate amount of the capital contributions made pursuant
to subclause (z) of this Section 9.05(viii) (for this purpose, taking the Fair Market Value of any
Property (other than cash) so contributed at the time of such contribution), when added to the
aggregate outstanding principal amount of all intercompany loans made pursuant to subclause (x) of
Section 9.05(vi) above (determined without regard to writedowns or write-offs thereof), exceed
$150,000,000 and (III) no contributions may be made pursuant to subclause (y) or (z) of this
Section 9.05(viii) at any time any Specified Default or any Event of Default is in existence (or
would be in existence after giving effect thereto);

     (ix) the Borrowers and the Subsidiary Guarantors may make Permitted Acquisitions in
accordance with the relevant requirements of Section 8.15 and the component definitions therein;

     (x) the U.S. Borrower and its Subsidiaries may own the capital stock of, or other Equity
Interests in, their respective Subsidiaries created or acquired in accordance with the terms of
this Agreement;

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     (xi) the U.S. Borrower and its Subsidiaries may acquire and hold non-cash consideration
issued by the purchaser of assets in connection with a sale of such assets to the extent permitted
by Sections 9.02(v), (xiv) and (xviii);

     (xii) the U.S. Borrower and its Subsidiaries may enter into (x) Other Hedging Agreements in
the ordinary course of business providing protection against fluctuations in currency values in
connection with the operations of the U.S. Borrower or any of its Subsidiaries and (y) Commodity
Agreements in the ordinary course of business providing protection against fluctuations in prices
of commodities used in the operations of the U.S. Borrower and its Subsidiaries, in each case, so
long as management of the U.S. Borrower or such Subsidiary, as the case may be, has determined in
good faith that the entering into of such Other Hedging Agreements or Commodity Agreements, as the
case may be, are bona fide hedging activities and are not for speculative purposes;

     (xiii) Holdings may acquire and hold obligations of one or more officers, directors or other
employees of Holdings or any of its Subsidiaries in connection with such officers’, directors’ or
employees’ acquisition of shares of capital stock of Holdings, so long as no cash is paid by
Holdings or any of its Subsidiaries to such officers, directors or employees in connection with
the acquisition of any such obligations;

     (xiv) loans or advances by any Subsidiary of Holdings in connection with grower loan
programs; provided that (I) at no time shall the aggregate outstanding principal amount of
all such loans and advances made pursuant to this Section 9.05(xiv) exceed $75,000,000 (determined
without regard to write-downs or write-offs thereof), (II) no loans or advances may be made
pursuant to this Section 9.05(xiv) at any time any Specified Default or any Event of Default is in
existence (or would be in existence after giving effect thereto), and (III) in the event a loan or
advance made by a Credit Party pursuant to this Section 9.05(xiv) is evidenced by a promissory
note, such promissory note shall be pledged to the Collateral Agent pursuant to the relevant
Security Document (except to the extent local law or the relevant grower loan documents prohibit
such pledge or such note is required to be pledged to secure Indebtedness incurred pursuant to
clause (x) of Section 9.04(b)(xix));

     (xv) so long as no Default or Event of Default then exists or would result therefrom, the U.S.
Borrower and its Subsidiaries may acquire Equity Interests in Persons (who, after giving effect to
such acquisition, become Non-Wholly Owned Subsidiaries of the U.S. Borrower or such Subsidiary);
provided that the aggregate amount of the Investments made pursuant to this Section
9.05(xv) after the Restatement Effective Date shall not exceed $50,000,000 (without regard to any
write-downs or write-offs thereof);

     (xvi) any Non-Wholly Owned Subsidiary of the U.S. Borrower may make loans to its shareholders
generally so long as (x) the U.S. Borrower or its respective Subsidiary which owns the Equity
Interest in the Subsidiary making such loans receives at least its proportionate share of such
loans (based upon its relative holding of the Equity Interests in the Subsidiary making such
loans), (y) unless the entering into of the Intercompany Subordination Agreement requires the
consent of the minority shareholder of such Non-Wholly Owned Subsidiary (and such consent is not
obtained), such Non-Wholly-Owned

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Subsidiary (as obligee of such loan) and the U.S. Borrower or such other Subsidiary (as obligor of
such loan) shall be subject to the provisions of the Intercompany Subordination Agreement and (z)
the aggregate outstanding principal amount of all loans pursuant to this Section 9.05(xvi) which
are not subject to the subordination provisions of the Intercompany Subordination Agreement shall
not exceed $50,000,000 at any time;

     (xvii) Investments constituting guaranties permitted by Section 9.04;

     (xviii) the Bermuda Partnership Partners may make additional Investments in the Bermuda
Partnership not otherwise permitted by this Section, so long as (w) the Bermuda Partnership
promptly (and in any event within one Business Day of receipt thereof) uses 100% of the cash
proceeds of such Investment to make a prepayment on the intercompany loan owing by it to the
Bermuda Borrower and incurred pursuant to the Intercompany Distribution Transactions, (x) the
Bermuda Borrower uses all of the proceeds of such prepayment within one Business Day of the date
of receipt thereof to prepay Term Loans owing by it in accordance with the requirements of Section
4.01(vii), (y) if any U.S. Borrower Incremental Term Loans are then outstanding, the U.S. Borrower
makes a concurrent prepayment of U.S. Borrower Incremental Term Loans in accordance with the
requirements of Section 4.01(vii) and (z) any Investment in the form of an intercompany loan or
advance pursuant to this Section 9.05(xviii) shall be subject to subordination as, and to the
extent required by, the Intercompany Subordination Agreement;

     (xix) so long as no Default or Event of Default then exists or would result therefrom, the
U.S. Borrower and its Subsidiaries may make Investments not otherwise permitted by Section 9.05(i)
through (xviii) and succeeding Section 9.05(xxi); provided that the aggregate amount of
the Investments made pursuant to this Section 9.05(xix) after the Restatement Effective Date shall
not exceed $100,000,000 (without regard to any write-downs or write-offs thereof)

     (xx) so long as no Default or Event of Default then exists or would result therefrom, Holdings
may from time to time (I) make cash common equity contributions, and/or intercompany loans to,
Westlake Wellbeing Company, and (II) make cash common equity contributions, and/or intercompany
loans, to Wellbeing IP Holdco and/or Wellbeing Edco; provided that (x) Holdings shall at
all times own or hold at least 85% of the Equity Interests of Westlake Wellbeing Company (on a
fully diluted basis) and at least 50% of the Equity Interests of each of Wellbeing IP Holdco and
Wellbeing Edco (on a fully diluted basis), (y) all of the Equity Interests of each of the
Unrestricted Wellbeing Joint Ventures held by Holdings shall have been delivered and pledged by
Holdings to the Collateral Agent pursuant to the U.S. Pledge Agreement and (z) each Investment made
by Holdings pursuant to this Section 9.05(xx) in the form of an intercompany loan shall be
evidenced by an Intercompany Note pledged to the Collateral Agent pursuant to the U.S. Pledge
Agreement;

     (xxi) the U.S. Borrower may make intercompany loans to Intermediate Holdco, and Intermediate
Holdco may make intercompany loans to Holdings, at the times and for the purposes described below,
so long as (i) no Default or Event of Default then exists or

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would result therefrom, (ii) the (x) Total Unutilized Revolving Loan Commitment (as defined
in the ABL Credit Agreement) or, if less, the amount which could then be borrowed thereunder
giving effect to “borrowing base” or similar limitations on amounts permitted to be borrowed
thereunder or (y) in the event that the ABL Credit Agreement shall have been replaced or
refinancing, undrawn available amounts under other working capital revolving credit
facilities of the U.S. Borrower (determined based on the relevant total commitments and
borrowing base or other similar limitations, as applicable), shall equal or exceed
$30,000,000 immediately after giving effect to each such intercompany loan), (iii) each such
intercompany loan is permitted pursuant to the terms of the ABL Credit Documents, the
Existing Senior Notes Documents, and, on and after the execution and delivery thereof, the
Permitted Senior Notes Documents and the Permitted Refinancing Senior Notes Documents, (iv)
no such intercompany loan by the U.S. Borrower to Intermediate Holdco shall be made, unless
the proceeds thereof are promptly (and in any event within 5 Business Days of the making of
such intercompany loan or, in the case of following clause (C), by the Intermediate Holdco
Prepayment Date) (A) on-loaned by Intermediate Holdco to Holdings for use within the time
periods required by, and for the purposes described in, immediately succeeding clause (v),
(B) Dividended by Intermediate Holdco to Holdings for use within the time periods required
by, and for the purposes described in, sub-clause (iv) of Section 9.06(ix) or (C) utilized
by Intermediate Holdco to pay amounts owing pursuant to the Intermediate Holdco Indebtedness
as contemplated by Section 8.21, (v) the proceeds of each such intercompany loan received by
Holdings shall be utilized by Holdings promptly (and, in any event, within 30 days of the
receipt of such proceeds) to make an Investment in one or more Unrestricted Wellbeing Joint
Ventures pursuant to Section 9.05(xx) for the purposes of financing the Wellbeing Project
and/or the operations of the Unrestricted Wellbeing Joint Ventures, and (vi) each such
intercompany loan shall be evidenced by an Intercompany Note pledged by the U.S. Borrower or
Intermediate Holdco, as the case may be, to the Collateral Agent pursuant to the U.S. Pledge
Agreement; and

     (xxii) (x) Intermediate Holdco may make intercompany loans to the U.S. Borrower with
the proceeds from any Investment made in it by Holdings with the proceeds of (I) any Equity
Infusion or (II) Wellbeing Project Financing, so long as each such intercompany loan shall
be evidenced by an Intercompany Note pledged by Intermediate Holdco to the Collateral Agent
pursuant to the U.S. Pledge Agreement and (y) Holdings may make intercompany loans to
Intermediate Holdco with the proceeds from (I) any Equity Infusion or (II) the incurrence
of any Wellbeing Project Financing, so long as each such intercompany loan shall be
evidenced by an Intercompany Note pledged by Holdings to the Collateral Agent pursuant to
the U.S. Pledge Agreement.

          9.06 Restricted Payments; etc. No Credit Agreement Party will, nor will permit any of
its Subsidiaries to, declare or pay any dividends (other than dividends payable solely in
non-redeemable common stock or comparable common equity interests of Holdings or any such
Subsidiary, as the case may be) or return any equity capital to, its stockholders, partners,
members or other equity holders or authorize or make any other distribution, payment or delivery
of property or cash to its stockholders, partners, members or other equity holders as such, or
redeem, retire, purchase or otherwise acquire, directly or indirectly, for a consideration, any
shares of any class of its capital stock or other Equity Interests, now or hereafter outstanding
(or

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any warrants for or options or stock appreciation rights in respect of any of such shares or other
Equity Interests), or set aside any funds for any of the foregoing purposes, and no Credit
Agreement Party will permit any of its Subsidiaries to purchase or otherwise acquire for a
consideration any shares of any class of the capital stock or other Equity Interests of any direct
or indirect parent of such Subsidiary now or hereafter outstanding (or any options or warrants or
stock appreciation rights issued by such Person with respect to its capital stock or other Equity
Interests) (all of the foregoing “Dividends”) or make any payments in respect of any outstanding
Shareholder Subordinated Notes or Intercompany Debt, except that:

     (i) (x) any Subsidiary of the U.S. Borrower may pay Dividends to the U.S. Borrower or
any Wholly-Owned Subsidiary of the U.S. Borrower and (y) any non-Wholly-Owned Subsidiary of
the U.S. Borrower may pay cash Dividends to its shareholders generally so long as the U.S.
Borrower or its respective Subsidiary which owns the Equity Interest in the Subsidiary
paying such Dividends receives at least its proportionate share thereof (based upon its
relative holding of the Equity Interests in the Subsidiary paying such Dividends and taking
into account the relative preferences, if any, of the various classes of Equity Interests
of such Subsidiary); provided that any Dividend made pursuant to preceding clause
(x) to any Wholly-Owned Subsidiary that is not a Credit Party may only be made if (A) (I)
no Specified Default and no Event of Default then exists or would result therefrom and (II)
such Wholly-Owned Subsidiary promptly distributes and/or transfer any Property received
pursuant to such Dividend (directly or indirectly through other Wholly-Owned Subsidiaries)
to a Credit Party or (B) the Subsidiary making such Dividend is not a Credit Party;
provided, however, that, subject to Section 9.01(d)(v), any such Dividend may be
made to the Bermuda Partnership notwithstanding the existence of an Event of Default (other
than an Event of Default under Section 10.01 or 10.05) so long as (a) the Bermuda
Partnership complies with clause (II) of the preceding proviso and (b) the Bermuda
Partnership Partners are (after giving effect to the receipt of any Dividend from Bermuda
Partnership) in compliance with the requirements of Section 9.01(d);

     (ii) Holdings may redeem or purchase shares of Holdings Common Stock or options to
purchase Holdings Common Stock, as the case may be, held by former officers or employees of
Holdings or any of its Subsidiaries following the death, disability, retirement or
termination of employment of such officers or employees, provided that (w) the only
consideration paid by Holdings in respect of such redemptions and/or purchases shall be
cash and Shareholder Subordinated Notes, (x) the sum of (A) the aggregate amount paid by
Holdings in cash in respect of all such redemptions and/or purchases
plus (B) the
aggregate amount of all principal and interest payments made on Shareholder Subordinated
Notes, shall not exceed $2,000,000 in any Fiscal Year of Holdings, and (z) at the time of
any redemption or purchase pursuant to this Section 9.06(ii), no Specified Default or Event
of Default shall then exist or result therefrom;

     (iii) (A) the U.S. Borrower may pay cash Dividends to Intermediate Holdco, so long as
(x) no Specified Default or Event of Default then exists or would result therefrom and (y)
the cash proceeds thereof are promptly used by Intermediate Holdco to pay the cash Dividend
described in succeeding clause (B) and (B) Intermediate Holdco may pay cash Dividends to
Holdings, so long as (x) no Specified Default or Event of

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Default then exists or would result therefrom and (y) the cash proceeds thereof are promptly used
by Holdings for the purposes described in Section 9.06(ii);

     (iv) (A) the U.S. Borrower may pay cash Dividends to Intermediate Holdco, so long as the
proceeds thereof are promptly used by Intermediate Holdco to pay its operating expenses in the
ordinary course of business (including, without limitation, professional fees and expenses) and
other similar corporate overhead costs and expenses, (B) the U.S. Borrower may pay cash Dividends
to Intermediate Holdco, so long as Intermediate Holdco promptly contributes such proceeds to
Corporate Holdco and the proceeds of such contribution are promptly used by Corporate Holdco to
pay its operating expenses in the ordinary course of business (including, without limitation,
professional fees and expenses) and other similar corporate overhead costs and expenses and (C)
the U.S. Borrower may pay cash Dividends to Intermediate Holdco, which, in turn, may pay cash
Dividends to Holdings, so long as the proceeds thereof are promptly used by Holdings to pay
operating expenses in the ordinary course of its business (including, without limitation,
professional fees and expenses) and other similar corporate overhead costs and expenses;

     (v) the U.S. Borrower may pay cash Dividends to Intermediate Holdco, and Intermediate Holdco
may in turn pay cash Dividends to Holdings, in the amounts and at the times of any payment by
Holdings in respect of its taxes (or taxes of its consolidated group), provided that (x)
the amount of cash Dividends paid pursuant to this clause (v) to enable Holdings to pay taxes at
any time shall not exceed the amount of such taxes owing by Holdings at such time and (y) any
refunds received by Holdings attributable to the U.S. Borrower or any of its Subsidiaries shall be
promptly returned by Holdings to Intermediate Holdco, and, in turn, by Intermediate Holdco to the
U.S. Borrower, provided, further, that (A) in no event shall the amount of Dividends paid
by the U.S. Borrower and its Subsidiaries pursuant to this Section 9.06(v) in respect of any
taxable year for which the U.S. Borrower and any of its Subsidiaries are included in a consolidated
federal income tax return, or a consolidated, combined or unitary state or local tax return with
any Person other than the U.S. Borrower and its Subsidiaries (such other Person or Persons included
in such returns, together with the U.S. Borrower and its Subsidiaries, the “Affiliated Group”)
exceed, in the aggregate, the lesser of (I) the amount of such federal income tax or state or local
tax, as the case may be (the “Relevant Separate Tax Liability”), that the U.S. Borrower and
its Subsidiaries would have been obligated to pay if the U.S. Borrower and its Subsidiaries had
filed a separate consolidated federal income tax return or a separate consolidated, combined or
unitary state or local tax return, as the case may be, for such year and all prior taxable years
(with the U.S. Borrower as the common parent of such affiliated group) and (II) the product of (a)
the federal income or state or local tax liability, as the case may be, of the Affiliated Group for
such year and (b) a fraction, (x) the numerator of which is an amount equal to the Relevant
Separate Tax Liability of the U.S. Borrower and its Subsidiaries for such year and (y) the
denominator of which is the aggregate of the total separate federal income, state or local tax
liability, as the case may be, that each member of the Affiliated Group (treating the U.S. Borrower
and its Subsidiaries as a single member and all other members of the Affiliated Group as one
separate member) would have incurred for such year if such members had filed separate federal
income tax returns or separate

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consolidated, combined or unitary state or local tax returns, as the case may be, for such year and
all prior taxable years and (B) each Unrestricted Wellbeing Joint Venture shall be required to
contribute to Holdings (and shall concurrently or prior to any payment of any Dividend by the U.S.
Borrower pursuant to this Section 9.06(v) have contributed to Holdings) its allocable share (as
reasonably determined by Holdings in good faith) of all tax liabilities of Holdings and its
consolidated Subsidiaries;

     (vi) Holdings and its Subsidiaries may make payments with respect to Intercompany Debt, so
long as the respective payment is permitted to be made in accordance with the terms of the
Intercompany Subordination Agreement; provided that, in no event shall the U.S. Borrower
be permitted to repay any Intercompany Debt incurred by it from Intermediate Holdco pursuant to
Section 9.05(xxii), unless the conditions set forth in subclauses (i), (ii), (iii) and (iv) of
Section 9.06(ix) shall have been satisfied at such time (for such purposes, treating each
reference to the making of a Dividend in said subclauses as if it were a reference to the
repayment of such Intercompany Debt);

     (vii) Holdings may make payments of interest and principal on the Shareholder Subordinated
Notes in accordance with the terms thereof, so long as the sum of (A) the aggregate amount paid by
Holdings in cash in respect of all redemptions and/or purchases of Holdings Common Stock pursuant
to Section 9.06(ii) plus (B) the aggregate amount of all principal and interest payments
made on Shareholder Subordinated Notes, does not exceed $2,000,000 in any Fiscal Year of Holdings;

     (viii) Holdings may pay regularly scheduled Dividends on Qualified Preferred Stock issued by
it pursuant to the terms thereof solely through the issuance of additional shares of such
Qualified Preferred Stock rather than in cash;

     (ix) the U.S. Borrower may pay cash Dividends to Intermediate Holdco, and Intermediate Holdco
may pay cash Dividends to Holdings, at the times and for the purposes described below, so long as
(i) no Default or Event of Default then exists or would result therefrom, (ii) the aggregate
amount of such cash Dividends shall not exceed the aggregate amount of cash common equity
contributions received by the U.S. Borrower from Intermediate Holdco (including not more than
$28,500,000 received prior to the Restatement Effective Date), to and including the date of such
cash Dividend, pursuant to clause (v) of Section 9.05(viii), in each case only to the extent such
cash common equity contributions were funded by Intermediate Holdco with proceeds from the
incurrence of any Wellbeing Project Financing, (iii) each such Dividend is permitted pursuant to
the terms of the Existing Senior Notes Documents and, on and after the execution and delivery
thereof, the Permitted Senior Notes Documents and the Permitted Refinancing Senior Notes
Documents, (iv) no such Dividend by the U.S. Borrower to Intermediate Holdco shall be paid, unless
the proceeds thereof are promptly (and in any event within 5 Business Days of the payment of such
Dividend) (A) Dividended by Intermediate Holdco to Holdings for use within the time periods
required by, and for the purposes described in, immediately succeeding clause (v) and/or (B)
on-loaned by Intermediate Holdco to Holdings for use within the time periods required by, and for
the purposes described in, sub-clause (v) of preceding Section 9.05(xxi) and (v) the proceeds

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of each such Dividend received by Holdings shall be utilized by Holdings promptly (and, in any
event, within 30 days of the payment of such Dividend) to make an Investment in one or more
Unrestricted Wellbeing Joint Ventures pursuant to Section 9.05(xx) for the purposes of financing
the Wellbeing Project and/or the operations of the Unrestricted Wellbeing Joint Ventures;

     (x) the Refinancing may be consummated in accordance with the requirements of this Agreement;

     (xi) so long as no Default and no Event of Default then exists or would result therefrom, any
Existing Senior Notes, any Permitted Senior Notes and any Permitted Refinancing Senior Notes may be
refinanced with any Permitted Refinancing Senior Notes in accordance with the requirements of this
Agreement;

     (xii) so long as no Specified Default and no Event of Default then exists or would result
therefrom, any Scheduled Existing Indebtedness, any Permitted Acquired Debt and any Permitted
Refinancing Indebtedness incurred to refinance same may be refinanced with Permitted Refinancing
Indebtedness in accordance with the requirements of this Agreement; and

     (xiii) in addition to the actions permitted above, the U.S. Borrower and its Subsidiaries may
make Investments (and, without duplication, may repurchase or redeem (so long as any repurchased
Indebtedness is promptly cancelled) any Indebtedness otherwise described in Section 9.08(a)(i)) so
long as (I) no Default or Event of Default then exists or would result therefrom, (II) the
aggregate amount of cash expended pursuant to this Section 9.06(xiii) to effect such Investments
after the Restatement Effective Date does not exceed the sum of (x) $50,000,000 and (y) the
aggregate amount of Retained Excess Cash Flow Amount at the time such Investment is made and (III)
to the extent any such Investment (or any part thereof) is made in reliance on preceding clause
(II)(y), calculations are made by the U.S. Borrower of compliance with Section 9.04(a) (regardless
of whether any Indebtedness is then being incurred pursuant to said Section 9.04(a)) for the
Calculation Period most recently ended prior to the date of the respective repurchase or
redemption (determined on a Pro Forma Basis after giving effect to such Investment and the
incurrence of any Indebtedness to finance same), as set forth in a certificate by an Authorized
Officer of the U.S. Borrower furnished to the Administrative Agent on the date of such Investment,
and such calculations shall show that, after giving effect to the respective Investment (and any
other contemporaneous Investments) and any Indebtedness being incurred in connection therewith,
the U.S. Borrower would be permitted to incur at least $1 of additional Indebtedness pursuant to
Section 9.04(a) at such time; provided that, to the extent that such Investments
constitute redemptions and/or repurchases of Existing Senior Notes, Permitted Senior Notes and/or
Permitted Refinancing Senior Notes from time to time (whether redeemed in accordance with the
terms of the indenture therefor and/or repurchased on the open market), all such Existing Senior
Notes, Permitted Senior Notes or Permitted Refinancing Senior Notes, as the case may be, so
repurchased or redeemed are promptly cancelled by the U.S. Borrower.

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          9.07 Transactions with Affiliates. No Credit Agreement Party will, nor will permit
any of its Subsidiaries to, enter into any transaction or series of transactions with any Affiliate
of Holdings or any of its Subsidiaries other than in the ordinary course of business and on terms
and conditions substantially as favorable to such Credit Agreement Party or such Subsidiary as
would be reasonably expected to be obtainable by such Credit Agreement Party or such Subsidiary at
the time in a comparable arm’s-length transaction with a Person other than an Affiliate;
provided that the following shall in any event be permitted: (i) the Transaction; (ii)
intercompany transactions among the U.S. Borrower and its Subsidiaries to the extent expressly
permitted by Sections 9.02, 9.04, 9.05 and 9.06; (iii) the payment of consulting or other fees to
the U.S. Borrower by any of its Subsidiaries in the ordinary course of business; (iv) customary
fees to non-officer directors of the U.S. Borrower and its Subsidiaries; (v) the U.S. Borrower and
its Subsidiaries may enter into the employment arrangements with respect to the procurement of
services with their respective officers and employees in the ordinary course of business; (vi)
Dividends may be paid by Holdings to the extent permitted by Section 9.06; (vii) the payment of
customary fees (excluding management fees) to the Agents and their Affiliates for services rendered
(including, without limitation, any underwriting discounts and commissions); (viii) transactions
between the U.S. Borrower and/or any of its Subsidiaries and their respective Affiliates listed on
Schedule XIV hereto; and (ix) the California Disposition and any loan of all or a portion of the
Net Sale Proceeds therefrom to an Affiliate of the U.S. Borrower, so long as (and only so long as)
such transactions would not (in the absence of this clause (ix) and, for such purpose, assuming
same were in the “ordinary course of business”) give rise to a violation of this Section 9.07. In
no event shall any management, consulting or similar fee be paid or payable by Holdings or any of
its Subsidiaries to any Affiliate (other than the U.S. Borrower or any other Credit Party), except
as specifically provided in this Section 9.07.

          9.08 Limitation on Voluntary Payments and Modifications of Indebtedness; Modifications of
Certificate of Incorporation, By-Laws and Certain Other Agreements; Issuances of Capital Stock;
etc. (a) No Credit Agreement Party will, and no Credit Agreement Party will permit any of its
Subsidiaries to:

     (i) make (or give any notice in respect of) any voluntary or optional payment or
prepayment on or redemption, repurchase or acquisition for value of (including, without
limitation, by way of depositing with the trustee with respect thereto or any other Person
money or securities before due for the purpose of paying when due), or any prepayment,
repurchase, redemption or acquisition for value as a result of any asset sale, change of
control or similar event of any Existing Indebtedness or, after the incurrence or issuance
thereof, any Permitted Refinancing Indebtedness, any Shareholder Subordinated Note, any
Qualified Preferred Stock, any Permitted Acquired Debt, any Permitted Senior Note or any
Permitted Refinancing Senior Note, except to the extent expressly permitted under Section
9.06(xi), (xii) and/or (xiii) or, in the case of Permitted Acquired Debt, required by
Section 8.1l(h);

     (ii) amend or modify, or permit the amendment or modification of, any provision of any
Existing Senior Notes Document or, on and after the execution and delivery thereof, any
Wellbeing Project Financing Document, any Permitted Senior Notes Document and any Permitted
Refinancing Senior Notes Document, in any such case other than any technical or clarifying
amendments, modifications or changes to any such

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Documents that are not in any way adverse to the interests of the Lenders and do not relate
to the subordination provisions contained therein or, in the case of any Wellbeing Project
Financing Document, amendments, modifications or changes which do not result in the
Wellbeing Project Financing ceasing to meet the requirements of “Wellbeing Project
Financing” as set forth in the definition thereof; or

     (iii) amend, modify or change any Permitted Acquired Debt, any Permitted Refinancing
Indebtedness, any Tax Allocation Agreement, any Management Agreement, any Qualified
Preferred Stock, its certificate of incorporation (including, without limitation, by the
filing or modification of any certificate of designation), by-laws, certificate of
partnership, partnership agreement, certificate of limited liability company, limited
liability company agreement (or equivalent organizational documents) or any agreement
entered into by it, with respect to its capital stock or other Equity Interests (including
any Shareholders’ Agreement), or enter into any new Tax Allocation Agreement, Management
Agreement or agreement with respect to its capital stock or other Equity Interests, other
than (A) any change to Permitted Acquired Debt or Permitted Refinancing Indebtedness as a
result of the refinancing thereof as permitted by Section 9.08(a), (B) any amendments or
modifications to Permitted Refinancing Debt or Qualified Preferred Stock consistent with the
definitions thereof provided herein and (C) any amendments, modifications or changes
pursuant to this Section 9.08(a) and any such new agreements pursuant to this Section
9.08(a), (x) which do not adversely affect the interests of the Lenders in any material
respect, (y), in the case of any Management Agreement, which does not involve the payment by
Holdings or any of its Subsidiaries of any amount which could give rise to a violation of
this Agreement and (z) any amendment to such Person’s respective certificates of
incorporation or other organizational documents to authorize the issuance of capital stock
or other Equity Interests otherwise permitted to be issued pursuant to the terms of this
Agreement.

          (b) Neither Holdings nor any of its Subsidiaries shall designate any Indebtedness (other than
the Obligations) as “Designated Guarantor Senior Debt” or “Designated Senior Debt” for purposes of
the Existing Senior Notes Documents or, on and after the execution and delivery thereof, the
Permitted Senior Notes Documents and the Permitted Refinancing Senior Notes Documents.

          9.09
Limitation on Issuance of Equity Interests. (a) Holdings will not issue (i) any
Preferred Equity (or any options, warrants or rights to purchase Preferred Equity) (other than
Qualified Preferred Stock issued pursuant to clause (c) below) or (ii) any redeemable common stock
or equivalent common Equity Interests.

          (b) Neither Intermediate Holdco nor any Borrower shall, nor shall permit any of its
Subsidiaries to, issue any capital stock or other Equity Interests (including by way of sales of
treasury stock), except (i) for transfers and replacements of then outstanding shares of capital
stock or other Equity Interests, (ii) for stock splits, stock dividends and additional issuances
which do not decrease the aggregate percentage ownership of Holdings and its Subsidiaries in any
class of the capital stock or other Equity Interests of such Subsidiaries, (iii) in the case of
Foreign Subsidiaries of the U.S. Borrower, to qualify directors to the extent required by
applicable law, (iv) Subsidiaries formed after the Initial Borrowing Date pursuant to Section 9.11

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(or Section 9.14 of the Original Credit Agreement) may issue capital stock or other Equity
Interests in accordance with the requirements of Section 9.11 (or, for periods prior to the
Restatement Effective Date, Section 9.14 of the Original Credit Agreement) and (v) issuances of
Equity Interests (including Preferred Equity) by any Wholly-Owned Subsidiary of the U.S. Borrower
to one or more other Wholly-Owned Subsidiaries of the U.S. Borrower. All capital stock or other
Equity Interests issued in accordance with this Section 9.09(b) shall, to the extent required by
the relevant Security Document, be delivered to the Collateral Agent for pledge pursuant to such
Security Document.

          (c) Holdings may from time to time (i) issue Qualified Preferred Stock, so long as (x) no
Default or Event of Default shall exist at the time of any such issuance or immediately after
giving effect thereto, and (y) with respect to each issuance of Qualified Preferred Stock, the
gross cash proceeds therefrom (or in the case of Qualified Preferred Stock directly issued as
consideration for a Permitted Acquisition, the Fair Market Value thereof of the assets received
therefor) shall be at least equal to 100% of the liquidation preference thereof at the time of
issuance and (ii) issue additional shares of Qualified Preferred Stock to pay in kind regularly
scheduled Dividends on Qualified Preferred Stock theretofore issued in compliance with this
Section 9.09(c).

          9.10 Limitation on Certain Restrictions on Subsidiaries. No Credit Agreement Party
will, nor will permit any of its Subsidiaries to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective, any encumbrance or restriction on the ability of any
such Subsidiary to (x) pay dividends or make any other distributions on its capital stock or any
other Equity Interests or participation in its profits owned by Holdings or any Subsidiary of
Holdings, or pay any Indebtedness owed to Holdings or a Subsidiary of Holdings, (y) make loans or
advances to Holdings or any Subsidiary of Holdings or (z) transfer any of its properties or assets
to Holdings or any of its Subsidiaries, except for such encumbrances or restrictions existing
under or by reason of (i) applicable law, (ii) this Agreement and the other Credit Documents,
(iii) customary provisions restricting subletting or assignment of any lease governing a leasehold
interest of the U.S. Borrower or a Subsidiary of the U.S. Borrower, (iv) customary provisions
restricting assignment of any licensing agreement (in which the U.S. Borrower or any of its
Subsidiaries is the licensee) or any other contract entered into by the U.S. Borrower or any
Subsidiary of the U.S. Borrower in the ordinary course of business, (v) any agreement or
instrument governing Permitted Acquired Debt, which encumbrance or restriction is not applicable
to any Person or the properties or assets of any Person, other than the Person or the properties
or assets of the Person acquired pursuant to the respective Permitted Acquisition and so long as
the respective encumbrances or restrictions were not created (or made more restrictive) in
connection with or in anticipation of the respective Permitted Acquisition, (vi) restrictions
applicable to any Non-Wholly Owned Subsidiary existing at the time of the acquisition thereof as a
result of an Investment pursuant to Section 9.05 or a Permitted Acquisition effected in accordance
with Section 8.15; provided that the restrictions applicable to such joint venture are not
made more burdensome, from the perspective of the U.S. Borrower and its Subsidiaries, than those
as in effect immediately before giving effect to the consummation of the respective Investment or
Permitted Acquisition; (vii) any restriction or encumbrance with respect to assets subject to
Liens permitted by Sections 9.03(iv), (x), (xi), (xii) and (xvi); (viii) the Existing 2011 Senior
Notes Documents; (ix) the Existing 2010 Senior Notes Documents; (x) the Existing 2009 Senior Notes
Documents; (xi) the Existing 2013 Senior Notes

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Documents; (xii) the Intermediate Holdco Credit Documents; (xiii) the ABL Credit Documents; (xiv)
the Wellbeing Project Financing Documents; (xv) on and after the execution and delivery thereof,
the Permitted Senior Notes Documents; and (xvi) on and after the execution and delivery thereof,
the Permitted Senior Refinancing Notes Documents.

          9.11 Limitation on the Creation of Subsidiaries and Joint Ventures. (a) Except as
otherwise specifically provided in immediately succeeding clause (b), Holdings will not, and will
not permit any of its Subsidiaries to, establish, create or acquire after the Initial Borrowing
Date any Subsidiary, provided that the U.S. Borrower and its Wholly-Owned Subsidiaries
shall be permitted to establish or create Wholly-Owned Subsidiaries so long as (A) within 15
Business Days (or such longer period as is acceptable to the Administrative Agent in any given
case) of such establishment, creation or acquisition, as the case may be, written notice thereof is
given to the Administrative Agent (provided that no such notice shall be required to be
given (x) in the case of a Shell Corporation or (y) in the case of a Foreign Subsidiary entitled to
defer the taking of actions otherwise required by this Section 9.11 (a) as a result of the
application of clause (z) of the immediately succeeding proviso), (B) subject to Sections 8.11(d)
and 8.12, the Equity Interests of each such new Wholly-Owned Subsidiary (if same is an Unrestricted
Subsidiary) are pledged pursuant to, and to the extent required by, the applicable Pledge
Agreements and/or Foreign Security Agreements and, if such Equity Interests constitute certificated
Equity Interests, the certificates representing such Equity Interests, together with stock or other
powers duly executed in blank, are delivered to the Collateral Agent for the benefit of the Secured
Creditors, (C) to the extent such new Wholly-Owned Subsidiary is required, in accordance with the applicable
provisions of Section 8.11, to become a U.S. Subsidiary Guarantor, (i) such new Wholly-Owned
Subsidiary executes and delivers counterparts of the U.S. Subsidiaries Guaranty, the Intercompany
Subordination Agreement, the Intercreditor Agreement and such Security Documents as would have been
entered into by the respective Subsidiary if same had been a U.S. Subsidiary Guarantor under the
Original Credit Agreement on the Initial Borrowing Date, and takes all action in connection
therewith as would otherwise have been required to be taken pursuant to Section 5 of the Original
Credit Agreement if such new Wholly-Owned Subsidiary had been a U.S. Credit Party under the
Original Credit Agreement on the Initial Borrowing Date,
(D) to the extent such new Wholly-Owned Subsidiary is organized in a Qualified Non-U.S.
Jurisdiction and is required, in accordance with the applicable provisions of Section 8.11, to
become a Foreign Subsidiary Guarantor, (i) such new Wholly-Owned Subsidiary executes and delivers
counterparts of the Foreign Subsidiaries Guaranty, the Intercompany Subordination Agreement and
such Security Documents as would have been entered into by the respective Subsidiary if same had
been a Foreign Subsidiary Guarantor under the Original Credit Agreement on the Initial Borrowing
Date (determined in accordance with the criteria described in Sections 5.15, 5.17 and 5.18(b) of
the Original Credit Agreement), and takes all action in connection therewith as would otherwise
have been required to be taken pursuant to Section 5 of the Original Credit Agreement if such new
Wholly-Owned Subsidiary had been a Foreign Credit Party under the Original Credit Agreement on the
Initial Borrowing Date, (E) to the extent such new Wholly-Owned Subsidiary is organized in a
Non-Qualified Jurisdiction and is required, in accordance with the applicable provisions of Section
8.11, to become a Foreign Subsidiary Guarantor, (i) such new Wholly-Owned Subsidiary executes and
delivers counterparts of the Foreign Subsidiaries Guaranty and, in each case unless the
Administrative Agent otherwise agrees based on advice of local counsel, the Intercompany
Subordination Agreement and such Security Documents as would have been entered into by the
respective Subsidiary if same had

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been a Foreign Subsidiary Guarantor under the Original Credit Agreement organized in such
Non-Qualified Jurisdiction on the Initial Borrowing Date (determined in accordance with the
criteria described in Sections 5.15, 5.17 and 5.18(b) of the Original Credit Agreement), and takes
all action in connection therewith as would otherwise have been required to be taken pursuant to
Section 5 of the Original Credit Agreement if such new Wholly-Owned Subsidiary had been a Foreign
Credit Party under the Original Credit Agreement organized in such Non-Qualified Jurisdiction on
the Initial Borrowing Date and (F) such new Wholly-Owned Subsidiary, to the extent requested by
any Agent or the Required Lenders, takes all other actions required pursuant to Section 8.11
(including, without limitation, to, at its own expense, execute, acknowledge and deliver, or cause
the execution, acknowledgment and delivery of, and thereafter register, file or record in any
appropriate governmental office, any document or instrument reasonably deemed by the Collateral
Agent to be necessary or desirable for the creation and perfection of the Liens on its assets
intended to be created pursuant to the applicable Security Documents); provided that (x)
the Credit Documents required to be executed and delivered pursuant to clauses (C), (D) and
(E) by such newly formed, created or acquired Subsidiary shall not be required to be so executed
and delivered until 45 days after the formation, creation or acquisition of such Subsidiary, (y) in
the case of a Shell Corporation created or established by the U.S. Borrower or any of its Wholly-
Owned Subsidiaries, the actions described in clauses (B), (C), (D) and (E) and applicable to such
Shell Corporation shall not be required to be taken (so long as same remains a Shell Corporation)
until 60 days after the creation or establishment of such Shell Corporation and (z) in the case of
a newly-formed Wholly-Owned Subsidiary of the U.S. Borrower organized in (i) a Qualified Non- U.S.
Jurisdiction or (ii) a Non-Qualified Jurisdiction in which an existing Foreign Subsidiary Guarantor
is organized, the actions described in clauses (D), (E) and (F) and applicable to such Wholly-Owned
Subsidiary, shall not be required to be taken by such Wholly-Owned Subsidiary if the gross book
value of its assets (determined as of the last day of the calendar month then last ended) is
less than $10,000,000, until (and only until) the aggregate gross book value of all
Wholly-Owned Subsidiaries which have not taken the actions described in clauses (D), (E) and
(F) and applicable to such Wholly-Owned Subsidiaries in reliance on this proviso (determined as of
the last day of the calendar month then last ended) exceeds $20,000,000, at which time all such
excluded Wholly-Owned Subsidiaries (and not just those Wholly-Owned Subsidiaries required to reduce
the aggregate gross book value of such excluded Wholly-Owned Subsidiaries to below $20,000,000)
shall take the actions described in clauses (D), (E) and (F) and applicable to such Wholly-Owned
Subsidiaries.

          (b) In addition to Subsidiaries of the U.S. Borrower created pursuant to preceding clause
(a), the U.S. Borrower and its Subsidiaries may establish, acquire or create, and make Investments
in, Non-Wholly Owned Subsidiaries after the Initial Borrowing Date as a result of Permitted
Acquisitions (subject to the limitations contained in the definition thereof) and Investments
expressly permitted to be made pursuant to Section 9.05, provided that (x) all Equity
Interests of each such Non-Wholly Owned Subsidiary which is an Unrestricted Subsidiary shall be
pledged by any Credit Party which owns same to the extent required by the Pledge Agreements or
relevant Foreign Security Agreements, and (y) any actions required to be taken pursuant to Section
8.11 in connection with the establishment of, or Investments in, the respective Subsidiaries are
taken in accordance with the requirements of said Section 8.11.

          9.12 Special Restrictions Relating to Principal Property. No Credit Agreement Party
will, nor will permit any of its Subsidiaries to, (i) own or acquire any Principal Property

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(other than the Principal Properties designated on Schedule XV hereto) or (ii) directly or
indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to
exist any Indebtedness secured by a Lien on any Principal Property; provided, however,
that, notwithstanding the foregoing, (x) the U.S. Borrower and its Subsidiaries may acquire (by way
of third-party purchase) up to (but not more than) two Principal Properties after the Restatement
Effective Date and, thereafter, own such Principal Properties and (y) the U.S. Borrower and its
Subsidiaries may own additional Principal Properties which are not Principal Properties on the
Restatement Effective Date (or, if acquired after the Restatement Effective Date, on such date of
acquisition) if (x) the respective Principal Property becomes a Principal Property after the
Restatement Effective Date (or such date of acquisition) as a result of the making of capital
expenditures or other investments in such Property by the U.S. Borrower or the respective
Subsidiary or (y) the respective Principal Property is constructed by the U.S. Borrower or the
respective Subsidiary.

          Section 10. Events of Default. Upon the occurrence of any of the following
specified events (each, an “Event of Default”):

          10.01 Payments. Either Borrower shall (i) default in the payment when due of any
principal of any Loan or Note, (ii) default, and such default shall continue for three or more
Business Days, in the payment when due of any Unpaid Drawing, any Unreimbursed Payment, any
interest on any Loan or Note or any Fees or (iii) default, and such default shall continue for 10
or more Business Days after notice to either Borrower by the Administrative Agent or any Lender, in
the payment when due of any other amounts owing hereunder or under any other Credit Document; or

          10.02 Representations, etc. (a) Any representation, warranty or statement made or
deemed made by any Credit Party herein or in any other Credit Document (other than a Foreign
Security Document) or in any statement or certificate delivered pursuant hereto or thereto shall
prove to be untrue in any material respect on the date as of which made or deemed made, (b) any
representation, warranty or statement which is qualified by a materiality standard of any kind and
is made or deemed made by any Foreign Credit Party in any Foreign Security Document or in any
statement or certificate delivered pursuant to any Foreign Security Document shall prove to be
untrue in any material respect on the date as of which made or deemed made and (c) any material
representation, warranty or statement which is not qualified by a materiality standard of any kind
and is made or deemed made by any Foreign Credit Party in any Foreign Security Document or in any
statement or certificate delivered pursuant to any Foreign Security Document shall prove to be
untrue in any material respect on the date as of which made or deemed made; or

          10.03 Covenants. Holdings or any of its Subsidiaries shall (a) default in the due
performance or observance by it of any term, covenant or agreement contained in Sections 2B.07,
8.01(e)(i), 8.10, 8.11, 8.13, 8.15, 8.18, 8.19, 8.20, 8.21 or 9, or (b) default in the due
performance or observance by it of any term, covenant or agreement contained in this Agreement
(other than those referred to in Sections 10.01, 10.02 or clause (a) of this Section 10.03) and
such default shall continue unremedied for a period of at least 30 days after notice to the
defaulting party by the Administrative Agent or the Required Lenders; or

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          10.04 Default Under Other Agreements. (a) Holdings or any of its Subsidiaries shall (i)
default in any payment with respect to any Indebtedness (other than the Obligations) beyond the
period of grace, if any, provided in the instrument or agreement under which Indebtedness was
created or (ii) default in the observance or performance of any agreement or condition relating to
any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating
thereto, or any other event shall occur or condition exist, the effect of which default or other
event or condition is to cause, or to permit the holder or holders of such Indebtedness (or a
trustee or agent on behalf of such holder or holders) to cause (determined without regard to
whether any notice is required), any such Indebtedness to become due prior to its stated maturity;
or (b) any Indebtedness (other than the Obligations) of Holdings or any of its Subsidiaries shall
be declared to be (or shall become) due and payable, or shall be required to be prepaid other than
by a regularly scheduled required prepayment, prior to the stated maturity thereof;
provided that it shall not constitute an Event of Default pursuant to clause (a) or (b) of
this Section 10.04 unless the principal amount of any one issue of such Indebtedness, or the
aggregate amount of all such Indebtedness referred to in clauses (a) and (b) above, equals or
exceeds $25,000,000; or

          10.05 Bankruptcy, etc. Holdings or any of its Subsidiaries shall commence a voluntary
case concerning itself under Title 11 of the United States Code entitled “Bankruptcy,” as now or
hereafter in effect, or any successor thereto (the “Bankruptcy Code”); or an involuntary case is
commenced against Holdings or any of its Subsidiaries and the petition is not controverted within
10 days, or is not dismissed within 60 days, after commencement of the case; or a custodian (as
defined in the Bankruptcy Code) is appointed for, or takes charge of, all or substantially all of
the property of Holdings or any of its Subsidiaries; or Holdings or any of its Subsidiaries
commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of
debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to Holdings or any of its Subsidiaries; or there is commenced against
Holdings or any of its Subsidiaries any such proceeding which remains undismissed for a period of
60 days; or Holdings or any of its Subsidiaries is adjudicated insolvent or bankrupt; or any order
of relief or other order approving any such case or proceeding is entered; or Holdings or any of
its Subsidiaries suffers any appointment of any custodian or the like for it or any substantial
part of its property to continue undischarged or unstayed for a period of 60 days; or Holdings or
any of its Subsidiaries makes a general assignment for the benefit of creditors; or any Company
action is taken by Holdings or any of its Subsidiaries for the purpose of effecting any of the
foregoing; or

          10.06 ERISA. (a) Any Plan shall fail to satisfy the minimum funding standard required
for any plan year or part thereof under Section 412 of the Code or Section 302 of ERISA or a waiver
of such standard or extension of any amortization period is sought or granted under Section 412 of
the Code or Section 303 or 304 of ERISA, a Reportable Event shall have occurred, a contributing
sponsor (as defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title IV of ERISA shall
be subject to the advance reporting requirement of PBGC Regulation Section 4043.61 (without regard
to subparagraph (b)(l) thereof) and an event described in subsection .62, .63, .64, .65, .66, .67
or .68 of PBGC Regulation Section 4043 shall be reasonably expected to occur with respect to such
Plan within the following 30 days which will result in a Material Adverse Effect, any Plan which is
subject to Title IV of ERISA shall have had or is likely to have a trustee appointed to administer
such Plan pursuant to Section 4042(b)

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of ERISA, any Plan or Multiemployer Plan which is subject to Title IV of ERISA is, shall have been
or is likely to be involuntarily terminated or to be the subject of termination proceedings under
ERISA, any Plan subject to Title IV of ERISA shall have an Unfunded Current Liability, a
contribution required to be made with respect to a Plan subject to Title IV of ERISA or
Multiemployer Plan or a Foreign Pension Plan has not been made within 60 days of when due,
Holdings or any Subsidiary of Holdings or any ERISA Affiliate has incurred or is likely to incur
any liability to or on account of a Plan subject to Title IV of ERISA or Multiemployer Plan under
Section 409, 502(i), 502(1), 515, 4062, 4063, 4064, 4069, 4201, 4204 or 4212 of ERISA or Section
401(a)(29), 4971 or 4975 of the Code or on account of a group health plan (as defined in Section
607(1) of ERISA or Section 4980B(g)(2) of the Code) under Section 4980B of the Code, or Holdings
or any Subsidiary of Holdings has incurred or is likely to incur liabilities pursuant to one or
more employee welfare benefit plans (as defined in Section 3(1) of ERISA) that provide benefits to
retired employees or other former employees (other than as required by Section 601 of ERISA) or
Plans or Foreign Pension Plans, a “default” within the meaning of Section 4219(c)(5) of ERISA,
shall occur with respect to any Plan or Multiemployer Plan; (b) there shall result from any such
event or events described above in this Section 10.06 the imposition of a lien, the granting of a
security interest, or a liability or a material risk of incurring a liability resulting from any
event described in clause (a) above; and (c) such lien, security interest or liability,
individually and/or in the aggregate, in the reasonable opinion of the Required Lenders, has had,
or could reasonably be expected to have, a Material Adverse Effect; or

          10.07 Security Documents. (a) Any Security Document shall cease to be in full force and
effect (except in accordance with the terms thereof), or shall, subject to the Intercreditor
Agreement, cease to give the Collateral Agent for the benefit of the Secured Creditors the Liens,
rights, powers and privileges purported to be created thereby (including, without limitation, a
perfected security interest in, and Lien on, all of the Collateral), in favor of the Collateral
Agent, superior to and prior to the rights of all third Persons (except as permitted by Section
9.03), and subject to no other Liens (except as permitted by Section 9.03), or (b) any Credit Party
shall default in the due performance or observance of any term, covenant or agreement on its part
to be performed or observed pursuant to any such Security Document and such default shall continue
beyond any cure or grace period specifically applicable thereto pursuant to the terms of any such
Security Document; provided that (i) the occurrence of an Excluded Event shall not give
rise to an Event of Default under this Section 10.07, (ii) the failure to have a perfected and
enforceable Lien on Collateral in favor of the Collateral Agent shall not give rise to an Event of
Default under this Section 10.07, unless the aggregate fair market value of all Collateral over
which the Collateral Agent fails to have a perfected and enforceable Lien (exclusive of Collateral
that is the subject of an Excluded Event) equals or exceeds $10,000,000 and (iii) in the case of
any default described in clause (b) above in the due performance or observance of any covenant or
agreement contained in any Foreign Security Document that is not (directly or indirectly) related
to the perfection or enforceability of a Lien on Collateral, such default shall not give rise to an
Event of Default until such default shall continue unremedied for a period of at least 15 days
after notice to the defaulting party by the Administrative Agent, the Collateral Agent or the
Required Lenders; or

          10.08 Guaranties. Any Guaranty or any provision thereof shall cease to be in full
force or effect as to the relevant Guarantor, or any Guarantor or Person acting by or on behalf of
such Guarantor shall deny or disaffirm such Guarantor’s obligations under the relevant

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Guaranty, or any Guarantor shall default in the due performance or observance of any term,
covenant or agreement on its part to be performed or observed pursuant to its Guaranty;
provided that the occurrence of an Excluded Event shall not give rise to an Event of
Default under this Section 10.08; or

          10.09 Judgments. One or more judgments or decrees shall be entered against Holdings
or any of its Subsidiaries involving a liability (to the extent not paid or covered by a reputable
and solvent insurance company (with any portion of any judgment or decree not so covered to be
included in any determination hereunder)) equal to or in excess of $25,000,000 for all such
judgments and decrees and all such judgments or decrees shall either be final and non-appealable
or shall not have been vacated, discharged or stayed or bonded pending appeal for any period of 60
consecutive days; provided, however, that the rendering of any such judgment(s) or
decree(s) by courts outside of the United States and Bermuda shall not be an Event of Default under
this Section 10.09 unless (i) Holdings and its Subsidiaries which are subject to the judgment(s) or
decree(s), as of the date of the issuance of such judgment(s) or decree(s) (or any later date while
such judgment(s) or decree(s) are still in effect) have at least $25,000,000 in net assets
(determined on a book basis without regard to any write-down or write-off of such assets as a
result of such judgment(s) or decree(s)) located in the jurisdictions (i.e., the relevant country
or countries or any larger jurisdiction of the respective court(s)) of the courts rendering such
judgment(s) or decree(s) (which is (or are) final and non-appealable or has (or have) not been
vacated, discharged, stayed or bonded pending appeal for any period of 60 consecutive days) or (ii)
an order or orders enforcing such judgment(s) or decree(s) (which is (or are) final and
non-appealable or has (or have) not been vacated, discharged, stayed or bonded pending appeal for
any period of 60 consecutive days) is entered by a court or courts of competent jurisdiction in a
jurisdiction or jurisdictions where Holdings and/or its Subsidiaries subject to the order, as of
the date of the entry of such order of enforcement (or any later date while any such order is still
in effect), have at least $25,000,000 in net assets located in such jurisdiction or jurisdictions
(determined on a book basis without regard to any write-down or write-off of such assets as a
result of such judgment(s) or decree(s)); or

          10.10 Ownership. A Change of Control shall have occurred; or

          10.11 Denial of Liability. (a) Any Credit Agreement Party shall deny its
obligations under this Agreement, any Note or any other Credit Document, (b) any law, rule or
regulation shall purport to render invalid, or preclude enforcement of, any provision of this
Agreement or any other Credit Document or impair performance of any Foreign Credit Party’s
obligations hereunder or under any other Credit Document or (c) any dominant authority asserting or
exercising de jure or de facto governmental or police powers shall,
by moratorium laws or otherwise, cancel, suspend or defer the obligation of any Foreign Credit
Party to pay any amount required to be paid hereunder or under any other Credit Document;
provided that the occurrence of an Excluded Event shall not give rise to an Event of
Default under this Section 10.11; or

          10.12 Governmental Action. Any governmental authority shall have
condemned, nationalized, seized, or otherwise expropriated all or any substantial part of the
property, shares of capital stock or other assets of any Foreign Credit Party or any of its
Subsidiaries, or shall have assumed custody or control of such property or other assets or of the

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business or operations of any Foreign Credit Party or any of its Subsidiaries, or shall have taken
any action for the dissolution or disestablishment of any Foreign Credit Party or any of its
Subsidiaries or any action that would prevent any Foreign Credit Party, any of its Subsidiaries or
any of their respective officers from carrying on the business of such Foreign Credit Party or
such Subsidiary or a substantial part thereof; provided that the occurrence of an Excluded
Event shall not give rise to an Event of Default under this Section 10.12; or

          10.13 Special Defaults Relating to Bermuda Entities. (i) The Bermuda Borrower shall
fail to maintain its corporate existence in full force and effect or (ii) any Foreign Credit Party
organized under the laws of Bermuda shall (x) fail to take any of the actions described in Section
8.05 (determined without regard to the second proviso appearing in said Section) or (y) take any
action described in the last sentence of Section 8.16 (determined without regard to the proviso
appearing at the end of said sentence), and such failure to take or the taking of such action, as
the case may be, described in this clause (ii) shall continue for a period of at least 30 days
after notice to such Foreign Credit Party by the Administrative Agent or the Required Lenders;

then, and in any such event, and at any time thereafter, if any Event of Default shall then be
continuing, the Administrative Agent shall, upon the written request of the Required Lenders, by
written notice to Holdings or the U.S. Borrower, take any or all of the following actions, without
prejudice to the rights of any Agent or any Lender to enforce its claims against any Credit Party
(provided that if an Event of Default specified in Section 10.05 shall occur with respect
to either Borrower, the result which would occur upon the giving of written notice by the
Administrative Agent as specified in clauses (i) and (ii) below shall occur automatically without
the giving of any such notice): (i) declare the Total Commitment terminated, whereupon the
Commitment of each Lender shall forthwith terminate immediately and any Fees shall forthwith become
due and payable without any other notice of any kind; (ii) declare the principal of and any accrued
interest in respect of all Loans and all Obligations owing hereunder (including Unpaid Drawings and
Unreimbursed Payments) to be, whereupon the same shall become, forthwith due and payable without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrowers; (iii) enforce, as Collateral Agent (or direct the Collateral Agent to enforce), subject
to the Intercreditor Agreement, any or all of the Liens and security interests created pursuant to
the Security Documents; (iv) terminate any Letter of Credit or Bank Guaranty which may be
terminated in accordance with its terms; (v) direct the Bermuda Borrower to pay (and the Bermuda
Borrower agrees that upon receipt of such notice, or upon the occurrence of an Event of Default
specified in Section 10.05 with respect to either Borrower, it will pay) to the Administrative
Agent at the Payment Office such additional amount of cash (in the respective currencies in which
such Letters of Credit or Bank Guaranties are denominated), to be held as security by the
Administrative Agent, as is equal to the sum of (x) the aggregate Stated Amount of all Bermuda
Borrower Letters of Credit issued for the account of the Bermuda Borrower and then outstanding and
(y) the aggregate Face Amount of all Bank Guaranties issued for the account of the Bermuda Borrower
and then outstanding; (vi) direct the U.S. Borrower to pay (and the U.S. Borrower agrees that upon
receipt of such notice, or upon the occurrence of an Event of Default specified in Section 10.05
with respect to either Borrower, it will pay) to the Administrative Agent at the Payment Office
such additional amount of cash (in the respective currencies in which such Letters of Credit or
Bank Guaranties are denominated), to be held as security by the Administrative Agent, as is equal
to the sum of (x) the aggregate Stated Amount

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of all Letters of Credit then outstanding and (y) the aggregate Face Amount of all Bank Guaranties
issued for the account of the U.S. Borrower and then outstanding; and (vii) apply any cash
collateral held by the Administrative Agent as provided in Section 4.02 to the repayment of the
Obligations.

          Section 11. Definitions. As used herein, the following terms shall have the meanings
herein specified unless the context otherwise requires. Defined terms in this Agreement shall
include in the singular number the plural and in the plural the singular:

          “ABL Borrower” shall mean the “Borrower” as defined in the ABL Credit Agreement.

          “ABL Collateral Agent” shall mean the “Collateral Agent” as defined in the ABL Credit
Agreement.

          “ABL Commitment” shall mean the commitment under the ABL Credit Agreement.

          “ABL Credit Agreement” shall mean the Credit Agreement, dated as of April 12, 2006,
among Holdings, Intermediate Holdco, the U.S. Borrower, as ABL Borrower, Deutsche Bank Trust
Company Americas, as Administrative Agent, Banc of America Securities LLC, as syndication agent,
The Bank of Nova Scotia, as documentation agent, Deutsche Bank Securities Inc. and Banc of America
Securities LLC, as joint book runners, and Deutsche Bank Securities Inc., as sole lead arranger,
as the same may be amended, restated, modified, supplemented, renewed, refunded, replaced or
refinanced from time to time in one or more agreements or indentures (in each case with the same
or new lenders, institutional investors or agents), including any agreement or indenture extending
the maturity thereof or otherwise restructuring all or any portion of the Indebtedness thereunder
or increasing the amount loaned or issued thereunder or altering the maturity thereof (so long as,
in the case of any replacement or refinancing, all commitments under the agreements or indentures
so replaced or refinanced shall have been terminated, all unpaid amounts thereunder (other than
indemnities) shall have been paid in full and all parties to any replacement or refinancing
agreements or indentures, or a trustee or agent on their behalf, shall have become party to the
Intercreditor Agreement as of the applicable date of replacement or refinancing, as the case may
be).

          “ABL Credit Documents” shall mean the ABL Credit Agreement and the related
guaranties, pledge agreements, security agreements, mortgages, notes and other agreements and
instruments entered into in connection with the ABL Credit Agreement, in each case as the same may
be amended, modified and/or supplemented from time to time in accordance with the terms hereof and
thereof.

          “ABL Credit Party” shall mean a “Credit Party” as defined in the ABL Credit
Agreement.

          “ABL Lender” shall
mean a “Lender” as defined in the ABL Credit Agreement.

          “ABL
Loans” shall mean the “Loans” as defined in the ABL Credit Agreement.

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          “ABL Priority Collateral” means, collectively, all “ABL Priority Collateral”
as defined in the Intercreditor Agreement.

          “ABL Secured Creditors” shall mean the “Secured Creditors” as defined the ABL
Security Documents.

          “ABL Security Agreement” shall mean the “Security Agreement” as defined in the ABL
Credit Agreement.

          “ABL Security Documents” shall mean the “Security Documents” as defined in the ABL
Credit Agreement.

          “Account Party” shall mean, with respect to Letters of Credit or Bank Guaranties, the U.S.
Borrower or the Bermuda Borrower, as specified in the respective Letter of Credit Request (or, in
the case of Existing Letters of Credit, as specified pursuant to the Original Credit Agreement) or
Bank Guaranty Request (or, in the case of Existing Bank Guaranties, as specified pursuant to the
Original Credit Agreement).

          “Acquired Entity or Business” shall mean either (x) the assets constituting a
business, division or product line of any Person not already a Subsidiary of Holdings or (y) 100%
of the Equity Interests of any such Person, which Person shall, as a result of such acquisition of
Equity Interests, become a Wholly-Owned Subsidiary of Holdings (or shall be merged with and into
the U.S. Borrower, the Bermuda Borrower or a another Wholly-Owned Subsidiary of the U.S. Borrower,
with the U.S. Borrower, the Bermuda Borrower or such other Wholly-Owned Subsidiary being the
surviving Person).

          “Additional Tranche C Term Loans” shall have the meaning provided in Section 1.01(b).

          “Additional Collateral” shall mean all property (whether real or personal) in which
security interests are granted (or have been purported to be granted) (and continue to be in
effect at the time of determination) pursuant to Sections 8.11, 8.12 and/or 9.11.

          “Additional Mortgage” shall have the meaning provided in Section 8.11(a).

          “Additional Mortgaged Property” shall have the meaning provided in Section 8.11(a).

          “Additional Security Documents” shall mean all mortgages, pledge agreements, security
agreements and other security documents entered into from time to time pursuant to Sections 8.11,
8.12, 8.15, 9.11 and/or 13.19, as each such document may be modified, supplemented or amended from
time to time in accordance with the terms hereof and thereof.

          “Adjusted Consolidated Net Income” shall mean, for any period, Consolidated Net
Income for such period plus, without duplication, the sum of the amount of all net
non-cash charges (including, without limitation, depreciation, amortization, deferred tax expense
and non-cash interest expense) and net non-cash losses which were included in arriving at
Consolidated

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Net Income for such period, less the amount of all net non-cash gains which were included
in arriving at Consolidated Net Income for such period.

          “Adjusted Consolidated Working Capital” shall mean, at any time, Consolidated Current
Assets at such time (but excluding therefrom all cash and Cash Equivalents) less
Consolidated Current Liabilities at such time.

          “Adjusted Excess Cash Flow” shall mean, for any period, the remainder of (i) Excess
Cash Flow for such period minus (ii) the aggregate amount of principal repayments of Loans
to the extent (and only to the extent) that such repayments were made as a voluntary prepayment
pursuant to, Section 4.01 hereof.

          “Administrative Agent” shall have the meaning provided in the first paragraph of this
Agreement and shall include any successor to the Administrative Agent appointed pursuant to Section
12.10.

          “Affiliate” shall mean, with respect to any Person, any other Person directly or indirectly
controlling (including but not limited to all directors and officers of such Person), controlled
by, or under direct or indirect common control with such Person. A Person shall be deemed to
control another Person if such Person possesses, directly or indirectly, the power (i) to vote 10%
or more of the securities having ordinary voting power for the election of directors (or
equivalent governing body) of such Person or (ii) to direct or cause the direction of the
management and policies of such other Person, whether through the ownership of voting securities,
by contract or otherwise; provided, however, that neither any Agent nor any Lender (nor
any Affiliate thereof) shall be considered an Affiliate of Holdings or any Subsidiary thereof.

          “Affiliated Group” shall have the meaning provided in Section 9.06(v).

          “After-Acquired Foreign Personal Property” shall have the meaning provided in Section
8.ll(k).

          “Agent” shall mean the Administrative Agent, the Syndication Agent and each Co-Documentation
Agent and shall include any successor to any such Person appointed pursuant to Section 12.10.

          “Aggregate CL Exposure” shall mean, at any time, the sum of (i) the aggregate amount
of all Letter of Credit Outstandings at such time plus (ii) the aggregate amount of all
Bank Guaranty Outstandings at such time (for this purpose, giving effect to the provisos to the
definitions of Stated Amount and Face Amount in determining the Letter of Credit Outstandings and
Bank Guarantee Outstandings at such time).

          “Agreement” shall mean this Credit Agreement, as amended and restated and as the same may be
further modified, supplemented, amended, restated, extended, renewed, refinanced and/or replaced
from time to time.

          “Alternative Currency” shall mean Sterling and Euros.

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          “Applicable Currency” shall mean (i) with respect to any Loan, Dollars and (ii) with
respect to any Letter of Credit or Bank Guaranty, Dollars or the Alternative Currency in which
such Letter of Credit or Bank Guaranty is denominated.

          “Applicable Increased Term Loan Rate” shall mean, at any time, with respect to any
newly-created Tranche of Incremental Term Loans, the rate per annum (expressed as a percentage)
applicable to Tranche B Term Loans, Tranche C Term Loans and each other then existing Tranche of
Incremental Term Loans after giving effect to the provisos in subclause (II) of clause (vii) of
Section 1.15(a) and shall be conclusive and binding on all Lenders absent manifest error.

          “Applicable Margin” shall mean initially, commencing on the Restatement Effective
Date, a percentage per annum equal to: (i) in the case of Tranche B Term Loans and Tranche C Term
Loans maintained as (A) Base Rate Loans, 0.75% and (B) Eurodollar Loans, 1.75% (or, on and after
the date of the most recent incurrence of any Tranche of Incremental Term Loans bearing interest
at the Applicable Increased Term Loan Rate, the Applicable Increased Term Loan Rate for such
Tranche of Incremental Term Loans); and (ii) in the case of any Type of Incremental Term Loan of a
given Tranche, that percentage per annum set forth in, or calculated in accordance with, Section
1.15 and the relevant Incremental Term Loan Commitment Agreement (or in the case of Incremental
Term Loans of a given Tranche, on and after the date of the most recent incurrence of any Tranche
of Incremental Term Loans bearing interest at the Applicable Increased Term Loan Rate, the
Applicable Increased Term Loan Rate for such Tranche of Incremental
Term Loans); provided,
that from and after each date of delivery, on or after the Restatement Effective Date, of any
certificate delivered in accordance with Section 8.01(d), all Applicable Margins for Tranche B
Term Loans and Tranche C Term Loans shall be increased by 0.25% unless the respective certificate
delivered in accordance with Section 8.01(d) sets forth a calculation of the Senior Secured
Leverage Ratio as at the last day of the respective Fiscal Quarter or Fiscal Year for which the
respective certificate is being delivered which is equal to or less than 3.25:1.00; provided,
further, that if any certificate required to be delivered pursuant to Section 8.01(d) is not
delivered by the date required pursuant to said Section 8.01(d), the increased Applicable Margins
(i.e., 0.25%) shall apply from the date the respective certificate was required to be delivered
pursuant to Section 8.01(d) to and including the date on which a certificate is thereafter
subsequently delivered to the Administrative Agent in accordance with Section 8.01(d) (except for
the late delivery thereof) (which shall then constitute a new Start Date (if applicable)).
Notwithstanding the foregoing, the relevant Applicable Margins shall be subject to increases
pursuant to, and to the extent expressly provided in, Section 1.15.

          “Applicable Prepayment Percentage” shall mean, at any time, (i) for purposes of
Section 4.02(f) and the definitions of “Retained Excess Cash Flow Amount”, 50%; provided
that, so long as no Default or Event of Default is then in existence, if the Total Leverage Ratio
is less than 3.50:1.00 as at the last day of the most recently ended Fiscal Year of the U.S.
Borrower (as set forth in an officer’s certificate delivered pursuant to Section 8.01(d) for the
Fiscal Year of the U.S. Borrower then last ended), the Applicable Prepayment Percentage shall
instead be 0%.

          “Asset Sale” shall mean any sale, transfer or other disposition by Holdings or any of its
Subsidiaries to any Person other than the U.S. Borrower or any Wholly-Owned Subsidiary

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of the U.S. Borrower of any asset or Property (including, without limitation, any capital stock or
other securities of, or other Equity Interests in, another Person, but excluding the sale by
Holdings of its own capital stock) of Holdings or such Subsidiary other than (i) sales, transfers
or other dispositions of inventory made in the ordinary course of business, (ii) other sales and
dispositions that generate Net Sale Proceeds of less than $15,000,000 in the aggregate in any
Fiscal Year of Holdings or (iii) sales or liquidations of Cash Equivalents, it being understood
and agreed that the grant of a Lien by Holdings or any of its Subsidiaries in favor of another
Person shall not in and of itself constitute an “Asset Sale” for purposes of this definition.

          “Assignment and Assumption Agreement” shall mean the Assignment and Assumption
Agreement substantially in the form of Exhibit J (appropriately completed).

          “Authorized Officer” shall mean, with respect to (i) delivering Notices of Borrowing,
Notices of Conversion, Letter of Credit Requests, Bank Guaranty Requests and similar notices, any
person or persons that has or have been authorized by the board of directors of either Borrower to
deliver such notices pursuant to this Agreement and that has or have appropriate signature cards on
file with the Administrative Agent, the respective Issuing Lender or the respective Bank Guaranty
Issuer, (ii) delivering financial information and officer’s certificates pursuant to this
Agreement, the chief financial officer, any treasurer or other financial officer of Holdings or the
U.S. Borrower and (iii) any other matter in connection with this Agreement or any other Credit
Document, any officer (or a person or persons so designated by any two officers) of Holdings or the
U.S. Borrower.

          “Bank Guaranty” shall have the meaning provided in Section 2B.01(a).

          “Bank Guaranty Issuer” shall mean (i) if and to the extent it agrees to act as such,
any Agent (and any of such Agent’s affiliates and/or branches), (ii) any ABL Lender (and any of
such ABL Lender’s affiliates and/or branches) or any CL Lender (and any of such CL Lender’s
affiliates and/or branches) which at the request of the U.S. Borrower or the Bermuda Borrower and
with the consent of the Administrative Agent agrees, in such ABL Lender’s or CL Lender’s (or their
respective affiliate’s or branch’s) sole discretion, to become a Bank Guaranty Issuer for the
purpose of issuing Bank Guaranties pursuant to Section 2B and (iii) with respect to the Existing
Bank Guaranties, the Lender or Original Lender (and any of such Lender’s or Original Lender’s
affiliates and/or branches) designated as the issuer thereof on Part B of Schedule XI shall be the
Bank Guaranty Issuer thereof.

          “Bank Guaranty Outstandings” shall mean, at any time, the sum of (i) the aggregate
Face Amount of all outstanding Bank Guaranties which have not terminated at such time plus
(ii) the aggregate amount of all Unreimbursed Payments in respect of all Bank Guaranties at such
time.

          “Bank Guaranty Payment” shall have the meaning provided in Section 2B.05(b).

          “Bank Guaranty Request” shall have the meaning provided in Section 2B.03(a).

          “Bankruptcy Code” shall have the meaning provided in Section 10.05.

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          “BAS”
shall mean Banc of America Securities LLC, in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “Base Rate” at any time shall mean the higher of (x) the rate which is 1/2 of 1% in excess of
the Federal Funds Rate at such time and (y) the Prime Lending Rate at such time.

          “Base Rate Loan” shall mean each Loan which is designated or deemed designated as a
Base Rate Loan by the respective Borrower at the time of the incurrence thereof or conversion
thereto.

          “Bermuda Borrower” shall have the meaning provided in the first paragraph of this
Agreement.

          “Bermuda Borrower Bank Guaranty” shall mean each Bank Guaranty (which may be
denominated in Dollars or an Alternative Currency) issued for the account of the Bermuda Borrower
pursuant to Section 2B.01 and designated as such by the Bermuda Borrower in the respective Bank
Guaranty Request (or, in the case of an Existing Bank Guaranty, to the extent provided in Section
2B.01(d)).

          “Bermuda Borrower Incremental Term Loans” shall mean Incremental Term Loans incurred
by the Bermuda Borrower.

          “Bermuda Borrower Letter of Credit” shall mean each Letter of Credit (which must be
denominated in Dollars or an Alternative Currency) issued for the account of the Bermuda Borrower
pursuant to Section 2A.01.

          “Bermuda Borrower Term Loans” shall mean and include all Tranche C Term Loans and all
Bermuda Borrower Incremental Term Loans.

          “Bermuda Borrower’s Guaranty” shall mean the guaranty of the Bermuda Borrower
pursuant to Section 14.

          “Bermuda Partnership” shall mean Dole Foreign Holdings, Ltd., a limited liability
company organized under the laws of Bermuda.

          “Bermuda Partnership Partner #1” shall mean Dole Fresh Fruit Company, Inc., a
corporation organized under the laws of Nevada and a Wholly-Owned Subsidiary of the U.S. Borrower,
and any successor thereto by way of a merger or consolidation permitted by Section 9.0l(d).

          “Bermuda Partnership Partner #2” shall mean Dole Ocean Cargo Express, Inc., a
corporation organized under the laws of Nevada and a Wholly-Owned Subsidiary of the U.S. Borrower,
and any successor thereto by way of a merger or consolidation permitted by Section 9.0l(d).

          “Bermuda Partnership Partners” shall mean and include Bermuda Partnership Partner #1
and Bermuda Partnership Partner #2.

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          “B/G Participant” shall have the meaning provided in Section 2B.04(a).

          “B/G
Participation” shall have the meaning provided in Section 2B.04(a).

          “B/G Supportable Indebtedness” shall mean (i) obligations of the U.S. Borrower or its
Wholly-Owned Subsidiaries (or, in the case of any Existing Bank Guaranty, any Foreign Subsidiary
of the U.S. Borrower) incurred in the ordinary course of business owing to taxing authorities,
custom authorities or with respect to import and/or export licenses and (ii) such other
obligations of the U.S. Borrower or its Wholly-Owned Subsidiaries as are reasonably acceptable to
the Administrative Agent and the respective Bank Guaranty Issuer and otherwise permitted to exist
pursuant to the terms of this Agreement.

          “Borrowers” shall have the meaning provided in the first paragraph of this Agreement.

          “Borrowing” shall mean the borrowing of one Type of Loan pursuant to a single Tranche by the
Bermuda Borrower or by the U.S. Borrower from all the Lenders having Commitments with respect to
such Tranche on a given date (or resulting from a conversion or conversions on such date), having
in the case of Eurodollar Loans the same Interest Period; provided (x) that Base Rate Loans
incurred pursuant to Section 1.10(b) shall be considered part of the related Borrowing of
Eurodollar Loans, (y) the term “Borrowing” shall include the consolidated “borrowing” of Tranche C
Term Loans pursuant to the simultaneous conversion of Original Tranche B Term Loans and the
incurrence of Additional Tranche C Term Loans on the Restatement Effective Date on the terms
provided in Section 1.01(b), and (z) any Incremental Term Loans incurred pursuant to Section
1.01(c) shall be considered part of the related Borrowing of the then outstanding Tranche of Term
Loans (if any) to which such Incremental Term Loans are added pursuant to Section 1.15(c).

          “Business Day” shall mean (i) for all purposes other than as covered by clause (ii) below,
any day excluding Saturday, Sunday and any day which shall be in the City of New York (or, with
respect to an Issuing Lender not located in the City of New York, the location of such Issuing
Lender) a legal holiday or a day on which banking institutions are authorized by law or other
governmental actions to close and (ii) with respect to all notices and determinations in
connection with, determinations of the LIBOR Rate and Interest Periods to be determined in
accordance with clause (ii) of the definition thereof contained herein, any day which is a
Business Day described in clause (i) and which is also a day for trading by and between banks in
the London interbank market and which shall not be a legal holiday or a day on which banking
institutions are authorized or required by law or other government action to close in London or
New York City.

          “Business Segment” shall mean a reportable segment as discussed in Statement of
Financial Accounting Standards No. 131 “Disclosure about Segments of an Enterprise and Related
Information.”

          “Calculation Period” shall mean, with respect to any Permitted Acquisition, any
Significant Asset Sale or any other event expressly required to be
calculated on a Pro Forma Basis pursuant to the terms of this Agreement, the Test Period most recently ended prior to
the

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date of such Permitted Acquisition, Significant Asset Sale or other event for which financial
statements pursuant to Sections 8.01 (a) or (b) are then available.

          “California Disposition” shall have the meaning provided in Section
9.02(xx).

          “Canadian Security Agreement” shall have the meaning provided in Section 12.14(a).

          “Capital Expenditures” shall mean, with respect to any Person, for any period, all
expenditures by such Person which should be capitalized in accordance with U.S. GAAP during such
period, including, without duplication, all such expenditures with respect to fixed or capital
assets (including, without limitation, expenditures for maintenance and repairs which should be
capitalized in accordance with U.S. GAAP) and the amount of all Capitalized Lease Obligations
incurred by such Person during such period.

          “Capital Lease,” as applied to any Person, shall mean any lease of any Property by that
Person as lessee which, in conformity with U.S. GAAP, is accounted for as a capital lease on the
balance sheet of that Person.

          “Capitalized Lease Obligations” of any Person shall mean all obligations under
Capital Leases of such Person, in each case taken at the amount thereof accounted for as
indebtedness in accordance with U.S. GAAP.

          “Cash Equivalents” means (i) Dollars, Euros, Sterling and, in the case of any of
Foreign Subsidiaries of the U.S. Borrower, such local currencies held by them from time to time in
the ordinary course of their businesses, (ii) securities issued or directly fully guaranteed or
insured by the governments of the United States, the United Kingdom, Sweden, Switzerland, Japan,
Canada and members of the European Union or any agency or instrumentality thereof (provided
that the full faith and credit of the respective such government is pledged in support thereof)
having maturities of not more than six months from the date of acquisition, (iii) securities issued
by any state of the United States or any political subdivision of any such state or any public
instrumentality thereof maturing within six months from the date of acquisition thereof and, at the
time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s,
(iv) certificates of deposit and eurodollar time deposits with maturities of six months or
less from the date of acquisition, bankers’ acceptances with maturities not exceeding six
months and overnight bank deposits, in each case with any domestic commercial bank or commercial
bank of a foreign country recognized by the United States,  (x) in the case of a domestic
commercial bank, having capital and surplus in excess of $500,000,000 and outstanding debt which is
rated “A” (or similar equivalent thereof) or higher by at least one nationally recognized
statistical rating organization (as defined under Rule 436 under the Securities Act) and (y) in the
case of a foreign commercial bank, having capital and surplus in excess of $250,000,000 (or the
foreign currency equivalent thereof), (v) repurchase obligations with a term of not more than seven
days for underlying securities of the types described in clauses (ii) and (iv) above entered into
with any financial institution meeting the qualifications specified in clause (iv) above, (vi)
commercial paper having a rating of at least A-l from S&P or at least P-l from Moody’s and in each
case maturing within six months after the date of acquisition and (vii) investments in money market
funds which invest substantially all

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their assets in securities of the types described in clauses (i) through (vi) above. Furthermore,
with respect to Foreign Subsidiaries of the U.S. Borrower that are not organized in one or more
Qualified Jurisdictions, Cash Equivalents shall include bank deposits (and investments pursuant to
operating account agreements) maintained with various local banks in the ordinary course of
business consistent with past practice of the U.S. Borrower’s Foreign Subsidiaries.

          “Change of Control” shall mean (i) Holdings shall at any time cease to own directly
100% of the Equity Interests of Intermediate Holdco, (ii) Intermediate Holdco shall at any time
cease to own directly 100% of the Equity Interests of (x) the U.S. Borrower and (y) Corporate
Holdco, (iii) the U.S. Borrower shall at any time cease to own directly or indirectly 100% of the
Equity Interests of the Bermuda Borrower, (iv) the Permitted Holders shall at any time and for any
reason fail to own at least 75% of both the economic and voting interest in Holdings’ capital
stock, (v) the Board of Directors of Holdings shall cease to consist of a majority of Continuing
Directors, or (vi) a “change of control” or similar event shall occur as provided in any ABL
Credit Document, Existing Senior Notes Document, any Qualified Preferred Stock (or certificate of
designation governing the same), any Wellbeing Project Financing Document or, on and after the
execution and delivery thereof, any Permitted Senior Notes Documents or any Permitted Refinancing
Senior Notes Document.

          “CL Credit Event” shall mean and include the issuance of a Letter of Credit and/or a
Bank Guaranty.

          “CL Facility Fee” shall have the meaning provided in Section 3.01(a).

          “CL Interest Payment Date” shall mean (i) in the case of the first CL Interest
Payment Date, the last day of the third Interest Period applicable to Credit-Linked Deposits
occurring after the Restatement Effective Date and (ii) the last day of every third Interest
Period applicable to Credit-Linked Deposits to occur thereafter.

          “CL Lender” shall mean each Lender having a Credit-Linked Commitment (without giving
effect to any termination of the Total Credit-Linked Commitment if any Letter of Credit
Outstandings or any Bank Guaranty Obligations remain outstanding).

          “CL Maturity Date” shall mean April 12, 2013.

          “CL Percentage” of any CL Lender at any time shall be that percentage which is equal to a
fraction (expressed as a percentage) the numerator of which is the Credit-Linked Commitment of
such CL Lender at such time and the denominator of which is the Total Credit-Linked Commitment at
such time, provided that if any such determination is to be made after the Total
Credit-Linked Commitment (and the related Credit-Linked Commitments of the CL Lenders) has (or
have) terminated, the determination of such percentages shall be made immediately before giving
effect to such termination (but giving effect to any subsequent assignments in accordance with the
terms of this Agreement).

          “CL Tranche” shall mean a collective reference to the Credit-Linked Commitments of
the various CL Lenders, the Credit-Linked Deposits of the various CL Lenders and their L/C
Participations in Letters of Credit and B/G Participations in Bank Guaranties hereunder.

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          “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the
regulations promulgated and rulings issued thereunder. Section references to the Code are to the
Code, as in effect at the Original Effective Date and any subsequent provisions of the Code,
amendatory thereof, supplemental thereto or substituted therefor.

          “Co-Documentation Agent” shall have the meaning provided in the first paragraph of
this Agreement and shall include any successor to a Co-Documentation Agent appointed pursuant to
Section 12.10.

          “Collateral” shall mean all property (whether real or personal, movable or immovable) with
respect to which any security interests have been granted (or purported to be granted) pursuant to
any Security Document (including any Additional Security Document), including, without limitation,
all Pledge Agreement Collateral, all Security Agreement Collateral, all Mortgaged Properties and
all cash and Cash Equivalents delivered as collateral pursuant to Section 4.02 or 10 or any Credit
Document and all Additional Collateral, if any. It is understood and agreed that the term
“Collateral” shall not include any Property which constitutes Excluded Collateral, for so long as
same constitutes Excluded Collateral.

          “Collateral Agent” shall mean DBAG, acting as collateral agent for the Secured Creditors.

          “Commitment” shall mean any of the commitments of any Lender, i.e., whether the Tranche B
Term Loan Commitment, the Tranche C Term Loan Commitment, the Credit-Linked Commitment or the
Incremental Term Loan Commitment of any Tranche of such Lender.

          “Commodity Agreements” shall mean commodity agreements, hedging agreements and other
similar agreements or arrangements designed to protect against price fluctuations of commodities
(e.g., fuel) used in the business of the U.S. Borrower and its Subsidiaries.

          “Company” shall mean any corporation, limited liability company, partnership or other
business entity (or the adjectival form thereof, where appropriate).

          “Consenting Tranche C Term Loan Lender” shall mean each Lender under, and as defined
in, the Original Credit Agreement with an outstanding Original Tranche B Term Loan on the
Restatement Effective Date (immediately prior to giving effect thereto) that has executed and
delivered a counterpart of this Agreement to the Administrative Agent on or prior to the
Restatement Effective Date and has an amount set forth opposite its name on Schedule I hereto
under the heading “Converted Tranche C Term Loans”.

          “Consolidated Current Assets” shall mean, at any time, the current assets of the U.S.
Borrower and its Consolidated Subsidiaries at such time determined on a consolidated basis.

          “Consolidated Current Liabilities” shall mean, at any time, the current liabilities
of the U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated basis, but
excluding the current portion of, and accrued but unpaid interest on, any Indebtedness under this
Agreement and any other long-term Indebtedness which would otherwise be included therein.

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          “Consolidated EBIT” shall mean, for any period, the Consolidated Net Income (without
giving effect to (x) any extraordinary gains or losses and (y) any gains or losses from sales of
assets other than inventory sold in the ordinary course of business) before (i) total interest
expense (inclusive of amortization of deferred financing fees and any other original issue
discount) of the U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated
basis for such period, and (ii) provision for taxes based on income and foreign withholding taxes,
in each case to the extent deducted in determining Consolidated Net Income for such period.

          “Consolidated EBITDA” shall mean for any period, Consolidated EBIT, adjusted by (x)
adding thereto (in each case to the extent deducted in determining Consolidated Net Income for
such period and not already added back in determining Consolidated EBIT) the amount of (i) all
depreciation and amortization expense that were deducted in determining Consolidated EBIT for such
period, (ii) any other non-cash charges incurred in such period, to the extent that same were
deducted in arriving at Consolidated EBIT for such period, and (iii) the amount of all fees and
expenses incurred in connection with the Transaction for such period, to the extent same were
deducted in arriving at Consolidated EBIT for such period and (y) subtracting therefrom, (i) to
the extent included in arriving at Consolidated EBIT for such period, the amount of non-cash gains
during such period, (ii) the aggregate amount of all cash payments made during such period in
connection with non-cash charges incurred in a prior period, to the extent such non-cash charges
were added back pursuant to clause (x)(ii) above in a prior period and (iii) the amount of all
“interest expense” paid during such period under the Specified Existing Ship Leases (calculated on
a basis consistent with the past practices of the U.S. Borrower under the Original Credit
Agreement, as if FASB Interpretation No. 46 (“Consolidation of Variable Interest Entities”) had
not been implemented).

          “Consolidated Net Debt” shall mean, at any time, the remainder of (I) the sum of
(without duplication) (i) all Indebtedness of the U.S. Borrower and its Consolidated Subsidiaries
(on a consolidated basis) as would be required to be reflected as debt or Capital Leases on the
liability side of a consolidated balance sheet of the U.S. Borrower and its Consolidated
Subsidiaries in accordance with U.S. GAAP, (ii) all Indebtedness of the U.S. Borrower and its
Consolidated Subsidiaries of the type described in clauses (ii) and (vii) of the definition of
Indebtedness and (iii) all Contingent Obligations of the U.S. Borrower and its Consolidated
Subsidiaries in respect of Indebtedness of any third Person of the type referred to in preceding
clauses (i) and (ii) minus (II) the aggregate amount of Unrestricted Cash Equivalents of
Holdings and its Subsidiaries at such time to the extent same would be reflected on a consolidated
balance sheet of the U.S. Borrower if same were prepared at such time; provided that (v)
Indebtedness of the U.S. Borrower and its Subsidiaries representing operating lease obligations
under the Specified Existing Ship Leases that became Indebtedness after the Initial Borrowing Date
as a result of the implementation of FASB Interpretation No. 46 (“Consolidation of Variable
Interest Entities”) as in effect on the Initial Borrowing Date shall not be included in any
determination of “Consolidated Net Debt”, (w) the amount available to be drawn under all letters of
credit, bankers’ acceptances, bank guaranties and similar obligations issued for the account of the
U.S. Borrower or any of its Consolidated Subsidiaries (but excluding, for avoidance of doubt, all
unpaid drawings or other monetary obligations owing in respect of such letters of credit, bankers’
acceptances, bank guaranties and similar obligations) shall not be included in any determination of
“Consolidated Net Debt”, (x) for purposes of this definition, the amount of Indebtedness in respect
of the Interest Rate Protection Agreements, Other Hedging Agreements

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and Commodities Agreements shall be at any time the unrealized net loss position, if any, of the
U.S. Borrower and/or its Consolidated Subsidiaries thereunder on a marked-to-market basis
determined no more than one month prior to such time, (y) obligations arising under Synthetic
Leases shall be included in determining Consolidated Net Debt and (z) any Preferred Equity of the
U.S. Borrower or any of its Consolidated Subsidiaries shall be treated as Indebtedness, with an
amount equal to the greater of the liquidation preference or the maximum fixed repurchase price of
any such outstanding Preferred Equity deemed to be a component of Consolidated Net Debt.

          “Consolidated Net Income” shall mean, for any period, the net income (or loss) of the
U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated basis for such period
(taken as a single accounting period) in accordance with U.S. GAAP, provided that the
following items shall be excluded in computing Consolidated Net Income (without duplication): (i)
except for determinations expressly required to be made on a Pro Forma Basis, the net
income (or loss) of any Person accrued prior to the date it becomes a Consolidated Subsidiary or
all or substantially all of the property or assets of such Person are acquired by a Consolidated
Subsidiary and (ii) the net income of any Consolidated Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by such Consolidated Subsidiary of
such net income is not at the time permitted by the operation of the terms of its charter or any
agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable
to such Consolidated Subsidiary.

          “Consolidated Senior Secured Net Debt” shall mean, at any time (x) the amount of
Consolidated Net Debt at such time less (y) all amounts reflected therein attributable to
Indebtedness which is totally unsecured.

          “Consolidated Subsidiary” shall mean, with respect to any Person, at any date, any
other Person the Equity Interests of which are owned by such Person and whose financial results
are consolidated in the financial statements of such Person in accordance with U.S. GAAP (and
consistent with the consolidation practices of the U.S. Borrower as in effect on the Original
Effective Date), if such statements were prepared as of such date.

          “Contemplated Asset Sale” shall mean any sale of assets by the U.S. Borrower and/or
one or more of its Subsidiaries (including Real Property and Equity Interests held by such Persons
but excluding Equity Interests in the Bermuda Borrower and the Bermuda Partnership and any Person
which owns, directly or indirectly, Equity Interests therein); provided, however, that any
such assets so sold shall be comprised of “non-core” assets which (i) are not material to the
operations of the U.S. Borrower and its Subsidiaries and (ii) generated an insignificant portion
of Consolidated EBITDA during the twelve month period prior to the date of such sale.

          “Contingent Obligation” shall mean, as to any Person, any obligation of such Person
as a result of such Person being a general partner of any other Person, unless the underlying
obligation is expressly made non-recourse as to such general partner, and any obligation of such
Person guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other
obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, including, without limitation, any obligation of such Person,
whether or not contingent, (i) to purchase any such primary obligation

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or any property constituting direct or indirect security therefor, (ii) to advance or supply funds
(x) for the purchase or payment of any such primary obligation or (y) to maintain working capital
or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor, (iii) to purchase property, securities or services primarily for the purpose of
assuring the owner of any such primary obligation of the ability of the primary obligor to make
payment of such primary obligation or (iv) otherwise to assure or hold harmless the holder of such
primary obligation against loss in respect thereof; provided, however, that the term
Contingent Obligation shall not include endorsements of instruments for deposit or collection in
the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an
amount equal to the lesser of (x) the stated or determinable amount of the primary obligation in
respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof (assuming such Person is required to perform
thereunder) as determined by such Person in good faith and (y) the stated amount of such
Contingent Obligation.

          “Continuing Directors” shall mean the directors of Holdings on the Restatement
Borrowing Date and each other director if such director’s election to, or nomination for the
election to, the Board of Directors of Holdings is recommended or approved by a majority of then
Continuing Directors.

          “Converted Tranche C Term Loans” shall have the meaning provided in Section 1.01(b).

          “Corporate Holdco” shall mean Dole Holding Company, Inc., a Delaware corporation and
a Wholly-Owned Subsidiary of Intermediate Holdco.

          “Credit Agreement Party” shall mean Holdings, Intermediate Holdco and each Borrower.

          “Credit Agreement Party Guaranty” shall mean the guaranty of each Credit Agreement
Party pursuant to Section 14.

          “Credit Documents” shall mean this Agreement, the Notes, each Subsidiaries Guaranty,
the Intercompany Subordination Agreement, each Special Colombian Put Note, each Special Colombian
Put Note Agreement, each Security Document, each Incremental Term Loan Commitment Agreement, the
U.S. Subsidiaries Guaranty, the Foreign Subsidiaries Guaranty Acknowledgement, the Intercompany
Subordination Agreement Acknowledgement, each Foreign Security Document Acknowledgement and/or
Amendment, the Intercreditor Agreement and any other guarantees or security documents executed and
delivered for the benefit of the Lenders in accordance with the requirements of this Agreement and
any other guaranties, pledge agreements or security documents executed and delivered in accordance
with the requirements of Sections 8.11, 8.12 and/or 9.10.

          “Credit Event” shall mean the making of a Loan, the issuance of a Letter of Credit, the
issuance of a Bank Guaranty or the making of any Credit-Linked Deposit.

          “Credit-Linked Commitment” shall mean, for each Lender, the amount set forth opposite
such Lender’s name in Schedule I directly below the column entitled “Credit-Linked

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Commitment,” as the same may be (x) reduced from time to time or terminated pursuant to Sections
3.02, 3.03 and/or 10, as applicable, or (y) adjusted from time to time as a result of assignments
to or from such Lender pursuant to Section 1.13 or 13.04(b).

          “Credit-Linked Deposit” shall mean, as to each CL Lender, the cash deposit made by
such CL Lender pursuant to Section 2C.01(a) or Section 1.13 or 13.04(b), as the case may be, as
such deposit may be (x) reduced from time to time pursuant to the terms of this Agreement and (y)
reduced or increased from time to time pursuant to assignments to or by such CL Lender pursuant to
Section 1.13 or 13.04(b). The initial amount of each CL Lender’s Credit-Linked Deposit shall be
equal to the amount of its Credit-Linked Commitment on the Restatement Effective Date or on the
date that such Person becomes a CL Lender pursuant to Section 1.13 or 13.04(b).

          “Credit-Linked Deposit Account” shall mean the accounts of, and established by, the
Deposit Bank under its sole and exclusive control and maintained at the office of the Deposit
Bank, and designated as the “Dole Foods Credit-Linked Deposit Account” that shall be used solely
for the purposes set forth in Sections 1.04, 2A.04(c) and 2B.04(c).

          “Credit-Linked Deposit Cost Amount” shall mean, at any time, a percentage per annum
equal to 0.13%.

          “Credit Party” shall mean each U.S. Credit Party and each Foreign Credit Party.

          “DRAG” shall mean Deutsche Bank AG New York Branch, in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “DBSI” shall mean Deutsche Bank Securities Inc., in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “Default” shall mean any event, act or condition, which with notice or lapse of time, or both,
would constitute an Event of Default.

          “Defaulting Lender” shall mean any Lender with respect to which a Lender Default is
in effect.

          “Deposit Bank” shall mean DBAG and shall include any successor thereto appointed pursuant to
Section 12.10.

          “Disqualified Voting Participant” shall mean any participant meeting the requirements
of sub-clauses (x), (y)(A) and (y)(B) of clause (II) of the second proviso appearing in Section
13.04(a) which (i) has refused to consent to certain proposed changes, waivers, discharges or
terminations with respect to this Agreement of the type described in Section 13.12(a) and which
have been approved by the Required Lenders and (ii) has been designated as a “Disqualified Voting
Participant” by the U.S. Borrower in a written notice to the Administrative Agent.

          “Dividend” shall have the meaning provided in Section 9.06.

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          “Documents” shall mean and include (i) the Credit Documents, (ii) the ABL Credit Documents,
(iii) the Refinancing Documents, (iv) the Intercompany Distribution Transaction Documents, (v) the
Sale-Leaseback Transaction Documents, (vi) the Existing Senior Notes Documents, (vii) the
Intermediate Holdco Credit Documents, (viii) the Wellbeing Project Financing Documents, (ix) on
and after the execution and delivery thereof, any Permitted Senior Notes Document and (x) on and
after the execution and delivery thereof, any Permitted Refinancing Senior Notes Document.

          “Dole Canada” shall have the meaning provided in Section 12.14(a).

          “Dole Settlement Company” shall mean the U.S. Borrower or a Qualified U.S. Obligor
that is not subject to the guaranty limitation applicable to the Bermuda Partnership Partners
contained in the U.S. Subsidiaries Guaranty.

          “Dollars” shall mean U.S. Dollars.

          “Dollar Denominated Bank Guaranty” shall mean each Bank Guaranty denominated in
Dollars.

          “Dollar Denominated Bank Guaranty Outstandings” shall mean, at any time, the sum of
(i) the aggregate Face Amount of all outstanding Dollar Denominated Bank Guaranties at such time
plus (ii) the aggregate amount of all Unreimbursed Payments with respect to Dollar
Denominated Bank Guaranties at such time.

          “Dollar Denominated Letter of Credit” shall mean each Letter of Credit denominated in
Dollars.

          “Dollar Denominated Letter of Credit Outstandings” shall mean, at any time, the sum
of (i) the aggregate Stated Amount of all outstanding Dollar Denominated Letters of Credit at such
time plus (ii) the aggregate amount of all Unpaid Drawings with respect to Dollar
Denominated Letters of Credit at such time.

          “Dollar Equivalent” of an amount denominated in a currency other than Dollars shall
mean, at any time for the determination thereof, the amount of Dollars which could be purchased
with the amount of such currency involved in such computation at the spot exchange rate therefor as
quoted by the Administrative Agent as of 11:00 A.M. (New York time) on the date two Business Days
prior to the date of any determination thereof for purchase on such date (or, in the case of any
determination pursuant to Section 1.14 or 13.22 hereof or Section 26 (or any analogous provision)
of any Subsidiaries Guaranty, on the date of determination);
provided that (x) the Dollar
Equivalent of any Unpaid Drawing under a Non-Dollar Denominated Letter of Credit shall be
determined at the time the drawing under the related Letter of Credit was paid or disbursed by the
respective Issuing Lender, and (y) the Dollar Equivalent of any Unreimbursed Payment under a
Non-Dollar Denominated Bank Guaranty shall be determined at the time the payment under the related
Bank Guaranty was made or disbursed by the respective Bank Guaranty Issuer; provided,
further, that for purposes of (x) determining compliance with Sections 1.01(a), (b) and (c),
2A.01(c), 2B.01(c) and 4.02(a) and (y) calculating Fees pursuant to Section 3.01, the Dollar
Equivalent of any amounts denominated in a currency other than Dollars shall be revalued on a
monthly basis using the spot exchange rates therefor as quoted in the Wall Street

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Journal (or, if same does not provide such exchange rates, on such other basis as is reasonably
satisfactory to the Administrative Agent) on the first Business Day of each calendar month,
provided, however, that at any time during a calendar month, if the Aggregate CL Exposure
(for the purposes of the determination thereof, using the Dollar Equivalent as recalculated based
on the spot exchange rate therefor as quoted in the Wall Street Journal (or, if same does not
provide such exchange rates, on such other basis as is reasonably satisfactory to the
Administrative Agent) on the respective date of determination pursuant to this exception) would
exceed 85% of the Total Credit-Linked Commitment, then in the sole discretion of the Administrative
Agent or at the request of the Required Lenders, the Dollar Equivalent shall be reset based upon
the spot exchange rates on such date as quoted in the Wall Street Journal (or, if same does not
provide such exchange rates, on such other basis as is reasonably satisfactory to the
Administrative Agent), which rates shall remain in effect until the first Business Day of the next
succeeding calendar month or such earlier date, if any, as the rate is reset pursuant to this
proviso. Notwithstanding anything to the contrary contained in this definition, at any time that a
Default or an Event of Default then exists, the Administrative Agent may revalue the Dollar
Equivalent of any amounts outstanding under the Credit Documents in a currency other than Dollars
in its sole discretion using the spot exchange rates therefor as quoted in the Wall Street Journal
(or, if the same does not provide such exchange rates, on such other basis as is reasonably
satisfactory to the Administrative Agent).

          “Domestic Subsidiary” shall mean, as to any Person, any Subsidiary of such Person
incorporated or organized in the United States or any State or territory thereof.

          “Drawing” shall have the meaning provided in Section 2A.05(b).

          “Eligible Transferee” shall mean and include a commercial bank, a mutual fund, an
insurance company, a financial institution, a “qualified institutional buyer” (as defined in Rule
144A of the Securities Act), any fund that regularly invests in bank loans or any other
“accredited investor” (as defined in Regulation D of the Securities Act), but in any event
excluding any individual and Holdings and its Subsidiaries and Affiliates.

          “EMU Legislation” shall mean the legislative measures of the European Union for the
introduction of, changeover to or operation of the Euro in one or more member states, being in
part legislative measures to implement the third stage of the European Monetary Union.

          “Environmental Claims” shall mean any and all administrative, regulatory or judicial
actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation,
investigations or proceedings relating in any way to any violation (or alleged violation) by
Holdings or any of its Subsidiaries under any Environmental Law or any permit issued to Holdings
or any of its Subsidiaries under any such law (hereafter “Claims”), including, without limitation,
(a) any and all Claims by governmental or regulatory authorities for enforcement, cleanup,
removal, response, remedial or other actions or damages pursuant to any applicable Environmental
Law, and (b) any and all Claims by any third party seeking damages, contribution, indemnification,
cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising
from alleged injury or threat of injury to health, safety or the environment.

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          “Environmental Law” shall mean any federal, state or local policy having the force
and effect of law, statute, law, rule, regulation, ordinance, code or rule of common law now or
hereafter in effect and in each case as amended, and any judicial or administrative interpretation
thereof, including any judicial or administrative order, consent, decree or judgment (for purposes
of this definition (collectively, “Laws”)), relating to the indoor or outdoor environment, or
Hazardous Materials or health and safety to the extent such health and safety issues arise under
the Occupational Safety and Health Act of 1970, as amended, or any such similar Laws.

          “Equity Infusion” shall mean (i) in the case of Holdings, the sale or issuance of Equity
Interests of Holdings to, or a capital contribution to Holdings by, David H. Murdock or any of his
affiliates and (ii) in the case of Intermediate Holdco, the sale or issuance of Equity Interests of
Intermediate Holdco to, or a capital contribution to Intermediate Holdco by, Holdings which is
financed by Holdings solely with the proceeds of the sale or issuance of Equity Interests and/or
capital contributions described in preceding clause (i).

          “Equity Interests” of any Person shall mean any and all shares, interests, rights to
purchase, warrants, options, participation or other equivalents of or interest in (however
designated) equity of such Person, including any preferred stock, any limited or general
partnership interest and any limited liability company membership interest.

          “Equity Investors” shall mean, collectively, David H. Murdock, the David H. Murdock
Living Trust and Castle & Cooke Holdings, Inc.

          “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time
to time, and the regulations promulgated and rulings issued thereunder. Section references to
ERISA are to ERISA, as in effect on the Original Effective Date and any subsequent provisions of
ERISA, amendatory thereof, supplemental thereto or substituted therefor.

          “ERISA Affiliate” shall mean each person (as defined in Section 3(9) of ERISA) which together
with Holdings or a Subsidiary of Holdings would be deemed to be a “single employer” (i) within the
meaning of Section 414(b), (c), (m) or (o) of the Code or (ii) as a result of Holdings or a
Subsidiary of Holdings being or having been a general partner of such Person.

          “Euro Denominated Bank Guaranty” shall mean each Bank Guaranty denominated in Euros.

          “Euro Denominated Letter of Credit” shall mean each Letter of Credit denominated in
Euros.

          “Eurodollar Loans” shall mean each Loan designated as such by the respective Borrower
or Borrowers at the time of the incurrence thereof or conversion thereto.

          “Eurodollar Rate” shall mean, for any Interest Period, in the case of any Loan, (i) the
arithmetic average (rounded upwards to the nearest 1/16 of 1%) of the offered quotation to first
class banks in the interbank Eurodollar market by DBAG for U.S. dollar deposits of amounts in
immediately available funds comparable to the principal amount of the applicable

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Eurodollar Loan for which the Eurodollar Rate is being determined with maturities comparable to
the Interest Period for which such Eurodollar Rate will apply, as of approximately 10:00 A.M. (New
York time) on the Interest Determination Date divided by (ii) a percentage equal to 100%
minus the then stated maximum rate of all reserve requirements (including, without
limitation, any marginal, emergency, supplemental, special or other reserves) applicable to any
member bank of the Federal Reserve System in respect of Eurocurrency liabilities as defined in
Regulation D (or any successor category of liabilities under Regulation D). The determination of
the Eurodollar Rate by the Administrative Agent shall be conclusive and binding on the Borrowers
absent manifest error.

          “Euros” and the designation “€” shall mean the currency introduced on January 1, 1999 at the
start of the third stage of European economic and monetary union pursuant to the Treaty (expressed
in euros).

          “Event of Default” shall have the meaning provided in Section 10.

          “Excess Cash Flow” shall mean, for any period, the remainder of (a) the sum of,
without duplication, (i) Adjusted Consolidated Net Income for such period and (ii) the decrease,
if any, in Adjusted Consolidated Working Capital from the first day to the last day of such
period, minus (b) the sum of, without duplication, (i) the aggregate amount of all Capital
Expenditures made by the U.S. Borrower and its Subsidiaries during such period (other than Capital
Expenditures to the extent financed with equity proceeds, Equity Interests, asset sale proceeds,
insurance proceeds or Indebtedness (other than with proceeds of ABL Loans, Original Revolving
Loans, or Original Swingline Loans, (ii) the aggregate amount of permanent principal payments of
Indebtedness for borrowed money of the U.S. Borrower and its Subsidiaries and the permanent
repayment of the principal component of Capitalized Lease Obligations of the U.S. Borrower and its
Subsidiaries during such period (other than (A) repayments, to the extent made with asset sale
proceeds, equity proceeds, insurance proceeds or Indebtedness, (B) repayments of Original Loans,
unless same were required as a result of a Scheduled Repayment (as defined in the Original Credit
Agreement) under Section 4.02(b) of the Original Credit Agreement, (C) repayments of ABL Loans or
(D) a Scheduled Repayment under Section 4.02(b), as the case may be) and (iii) the increase, if
any, in Adjusted Consolidated Working Capital from the first day to the last day of such period.

          “Excess Cash Flow Payment Period” shall mean, with respect to any Excess Cash Payment
Date, the immediately preceding Fiscal Year of Holdings.

          “Excess Cash Payment Date” shall mean the date occurring 3 Business Days after the
90th day following the last day of a Fiscal Year of Holdings.

          “Exchange Percentage” shall mean, as to each Lender, a fraction, expressed as a
decimal, in each case determined on the date of occurrence of a Sharing Event (after giving effect
to any actions to occur on, or promptly after, such date pursuant to Section 1.14(a), but before
giving effect to any actions to occur on such date pursuant to Section 1.14(b)) of which: (a) the
numerator shall be the sum of (i) the CL Percentage of such Lender (if a CL Lender) of (x) the
aggregate amount of Letter of Credit Outstandings (calculated by giving full effect to the proviso
to the definition of Stated Amount contained herein) and (y) the aggregate amount of

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Bank Guaranty Outstandings (calculated by giving full effect to the proviso to the definition of
Face Amount contained herein) and (ii) the aggregate principal amount of the outstanding Term Loans
of such Lender; and (b) the denominator of which shall be the sum of (i) the sum of (x) the
aggregate amount of Letter of Credit Outstandings (calculated by giving full effect to the proviso
to the definition of Stated Amount contained herein) and (y) the aggregate amount of Bank Guaranty
Outstandings (calculated by giving full effect to the proviso to the definition of Face Amount
contained herein) and (ii) the aggregate principal amount of all outstanding Term Loans of all
Lenders.

          “Excluded Bermuda Insurance Companies” shall mean and include (i) Ashford Company
Limited, a limited liability corporation organized under laws of Bermuda, and (ii) Mendocino
Limited, a limited liability corporation organized under laws of Bermuda.

          “Excluded Collateral” shall mean and include (i) each Principal Property of the U.S.
Borrower and any of its Restricted Subsidiaries, (ii) all shares of capital stock or Indebtedness
(as defined in the Existing 2013 Senior Notes Indenture as in effect on the Initial Borrowing
Date) of any Restricted Subsidiary of the U.S. Borrower (which Indebtedness (as so defined) is
then held by the U.S. Borrower or any Restricted Subsidiary) and (iii) Margin Stock owned or held
by Holdings or any of its Subsidiaries, except to the extent required to be pledged pursuant to
Section 8.19; provided that (x) the collateral described in preceding clauses (i) and (ii)
shall cease to constitute “Excluded Collateral” upon the repayment in full of all Existing 2009
Senior Notes and all Existing 2013 Senior Notes and (y) as the term “Excluded Collateral” is used
in any Foreign Security Document, such term shall not include any Principal Property referred to
in clause (i) above.

          “Excluded Domestic Subsidiary” shall mean County Line Mutual Water Company, a
Wholly-Owned Domestic Subsidiary of the U.S. Borrower.

          “Excluded Event” shall mean the taking of any action, or the adoption of any law, rule or
regulation, by any governmental authority which results in a deficiency that would otherwise give
rise to a Default or Event of Default under any of Sections 10.07, 10.08, 10.1 l(b), 10.11(c)
and/or 10.12; provided that (i) any such deficiency or default shall relate solely to a
Foreign Subsidiary of Holdings (other than a Foreign Subsidiary organized under the laws of
Bermuda), its business or properties and the Credit Documents to which such Foreign Subsidiary is a
party and (ii) the aggregate fair market value of all Property of all Foreign Subsidiaries subject
to any such deficiencies or defaults (including all Property which would have been Property of the
respective Foreign Subsidiaries if the actions described in Section 10.12 had not been taken) shall
not exceed $15,000,000.

          “Excluded Foreign Subsidiaries” shall mean Foreign Subsidiaries of the U.S. Borrower
organized in Qualified Non-U.S. Jurisdictions and listed on Part B of Schedule XIII;
provided that any Foreign Subsidiary listed on Part B of Schedule XIII which merges or
consolidates with or into any other Foreign Subsidiary of the U.S. Borrower that is a Qualified
Obligor organized in the jurisdiction of organization of such listed Foreign Subsidiary shall
cease to be an “Excluded Foreign Subsidiary” for purposes of this Agreement.

          “Existing Bank Guaranties” shall have the meaning provided in Section 2B.01(d).

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          “Existing Indebtedness” shall mean and include Scheduled Existing Indebtedness, and
the Existing Senior Notes Documents and the Wellbeing Project Financing.

          “Existing Indebtedness Agreements” shall have the meaning provided in Section
5.13(iii).

          “Existing Letters of Credit” shall have the meaning provided in Section
2A.01(d).

          “Existing Senior Notes” shall mean and include the Existing 2009 Senior Notes, the
Existing 2013 Senior Notes, the Existing 2011 Senior Notes and the Existing 2010 Senior Notes.

          “Existing Senior Notes Documents” shall mean and include (i) the Existing 2009 Senior
Notes Documents, (ii) the Existing 2013 Senior Notes Documents, (iii) the Existing 2011 Senior
Notes Documents and (iv) the Existing 2010 Senior Notes Documents.

          “Existing Senior Notes Indentures” shall mean and include (i) the Existing 2009
Senior Notes Indenture, (ii) the Existing 2013 Senior Notes Indenture, (iii) the Existing 2011
Senior Notes Indenture and (iv) the Existing 2010 Senior Notes Indenture.

          “Existing 2011 Senior Notes” shall mean the U.S. Borrower’s 8-7/8% Senior Notes due
2011, issued pursuant to the Existing 2011 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2011 Senior Notes Documents” shall mean the Existing 2011 Senior Notes, the
Existing 2011 Senior Notes Indenture and all other documents executed and delivered with respect
to the Existing 2011 Senior Notes or Existing 2011 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2011 Senior Notes Indenture” shall mean the Indenture, dated as of March 28,
2003, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Existing 2009 Senior Notes” shall mean the U.S. Borrower’s 8-5/8% Senior Notes due
2009, issued pursuant to the Existing 2009 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2009 Senior Notes Documents” shall mean the Existing 2009 Senior Notes, the
Existing 2009 Senior Notes Indenture and all other documents executed and delivered with respect
to the Existing 2009 Senior Notes or Existing 2009 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

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          “Existing 2009 Senior Notes Indenture” shall mean the Indenture, dated as of July 15,
1993, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Existing 2010 Senior Notes” shall mean the U.S. Borrower’s 7-1/4% Senior Notes due
2010, issued pursuant to the Existing 2010 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2010 Senior Notes Documents” shall mean the Existing 2010 Senior Notes, the
Existing 2010 Senior Notes Indenture and all other documents executed and delivered with respect
to the Existing 2010 Senior Notes or Existing 2010 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2010 Senior Notes Indenture” shall mean the Indenture, dated as of May 29,
2003, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Existing 2013 Senior Notes” shall mean the U.S. Borrower’s 7-7/8% Senior Notes due
2013, issued pursuant to the Existing 2013 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2013 Senior Notes Documents” shall mean the Existing 2013 Senior Notes, the
Existing 2013 Senior Notes Indenture and all other documents executed and delivered with respect
to the Existing 2013 Senior Notes or Existing 2013 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2013 Senior Notes Indenture” shall mean the Indenture, dated as of July 15,
1993, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Face Amount” of each Bank Guaranty shall, at any time, mean the maximum amount payable
thereunder (in each case determined without regard to whether any conditions to payment could then
be met, but after giving effect to all previous payments made thereunder), provided that
(x) except as such term is used in Section 2B.02, the “Face Amount” of each Non-Dollar Denominated
Bank Guaranty shall be, on any date of calculation, the Dollar Equivalent of the maximum amount
payable in the applicable Alternative Currency thereunder (determined without regard to whether any
conditions to payment could then be met but after giving effect to

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all previous payments made thereunder) and (y) except for purposes of Sections 2B.02 and 3.01(d),
the definition of Non-Dollar Denominated B/G Cushion Amount and in determining the respective
proportional indemnification liabilities of the Secured Creditors to the Collateral Agent and/or
the Pledgee under the applicable Security Documents, the Face Amount of any Non-Dollar Denominated
Bank Guaranty (as otherwise determined above) shall be increased (at each time the Face Amount
thereof is determined) by the Non-Dollar Denominated B/G Cushion Amount for such Non-Dollar
Denominated Bank Guaranty.

          “Facing Fee” shall have the meaning provided in Section 3.01(b).

          “Fair Market Value” shall mean, with respect to any asset, the price at which a
willing buyer, not an Affiliate of the seller, and a willing seller who does not have to sell,
would agree to purchase and sell such asset, as determined in good faith by the board of directors
or other governing body or, pursuant to a specific delegation of authority by such board of
directors or governing body, a designated senior executive officer, of Holdings, or the Subsidiary
of Holdings selling such asset.

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

          “Fee Capped Foreign Subsidiary Guarantor” shall mean any Foreign Credit Party
organized under the laws of a jurisdiction in which (x) the guaranties and/or secured obligations
under the respective Credit Documents are not required by the laws of such jurisdiction to be
limited in any way and (y) the guaranties and/or secured obligations under the respective Credit
Documents have been voluntarily limited (at the request of such Foreign Credit Party) to reduce
the amount of registration, notorial or other fees, taxes or amounts payable in connection with
the recordation or perfection of the security interests purported to be created pursuant to the
relevant Security Documents.

          “Fees” shall mean all amounts payable pursuant to, or referred to in, Section 3.01.

          “First Priority” means, with respect to any Lien purported to be created on any Collateral
pursuant to any Security Document, that such Lien is prior in right to any other Lien thereon,
other than any Permitted Liens (excluding Permitted Liens as described in clause (iii) of Section
9.03) applicable to such Collateral which as a matter of law (and giving effect to any actions
taken pursuant to the last paragraph of Section 9.03) have priority over the respective Liens on
such Collateral created pursuant to the relevant Security Document.

          “Fiscal Quarter” means, for any Fiscal Year, each of (i) the first twelve weeks of such Fiscal
Year, (ii) the thirteenth week of such Fiscal Year through the twenty-fourth week of such Fiscal
Year, (iii) the twenty-fifth week of such Fiscal Year through the forty-first week of

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such Fiscal Year and (iv) forty-second week of such Fiscal Year through the last day of such
Fiscal Year, as the case may be. For purposes of this Agreement, a reference to the 1st
Fiscal Quarter of any Fiscal Year shall be a reference to the period referred to in clause (i)
above; a reference to the 2nd Fiscal Quarter of any Fiscal Year shall be a reference to the period
referred to in clause (ii) above; a reference to the 3rd Fiscal Quarter of any Fiscal
Year shall be a reference to the period referred to in clause (iii) above; and a reference to the
4th Fiscal Quarter of any Fiscal Year shall be a reference to the period referred to in clause
(iv) above.

          “Fiscal Year” means the fiscal year of Holdings and its Subsidiaries ending on the Saturday
nearest to December 31 of each calendar year. For purposes of this Agreement, any particular
Fiscal Year shall be designated by reference to the calendar year in which the majority of such
Fiscal Year falls.

          “Foreign Asset Transfer” shall mean, collectively, (i) the transfer by Bermuda
Partnership Partner #1 or the Bermuda Partnership of shares of Transtrading Overseas Limited, (ii)
the transfer by the U.S. Borrower of shares of Dole Pacific General Services Ltd. and (iii) the
transfer by the U.S. Borrower of shares of Castle & Cooke Worldwide Limited, in each case to Dole
Foreign Holdings II Ltd. (or such other Foreign Subsidiary as is acceptable to the Administrative
Agent).

          “Foreign Credit Party” shall mean the Bermuda Borrower and each Foreign Subsidiary
Guarantor.

          “Foreign Credit Party Pledge Agreements” shall mean each Foreign Credit Party Pledge
Agreement (as defined in the Original Credit Agreement) entered into by a Foreign Credit Party
pursuant to the terms of the Original Credit Agreement and each other pledge agreement entered
into by a Foreign Credit Party pursuant to the terms hereof covering promissory notes and Equity
Interests and governed by the laws of the jurisdiction in which such Foreign Credit Party is
organized, in each case as the same may be amended, restated, modified and/or supplemented from
time to time in accordance with the terms thereof. Part A of Schedule XII sets forth a list of all
Foreign Credit Party Pledge Agreements in effect on the Restatement Effective Date (prior to
giving effect to the Foreign Security Document Acknowledgments and/or Amendments).

          “Foreign Pension Plan” means any plan, fund (including, without limitation, any
superannuation fund) or other similar program established or maintained outside the United States
of America by Holdings or any one or more of its Subsidiaries primarily for the benefit of
employees of Holdings or any of its Subsidiaries residing outside the United States of America,
which plan, fund or other similar program provides, or results in, retirement income, a deferral of
income in contemplation of retirement or payments to be made upon termination of employment, and
which plan is not subject to ERISA or the Code.

          “Foreign Pledge Agreement” shall mean and include the Local Law Pledge Agreements and
the Foreign Credit Party Pledge Agreements.

          “Foreign Security Agreements” shall mean each Foreign Security Agreement (as defined
in the Original Credit Agreement) entered into by a Foreign Credit Party pursuant to the

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terms of the Original Credit Agreement, each Replacement Foreign Security Agreement and each other
security agreement, pledge agreement, mortgage, debenture, deed of charge, document and/or
instrument entered into by a Foreign Credit Party pursuant to the terms hereof covering tangible
and intangible assets (including receivables, contract rights, securities, inventory, equipment,
real estate, leasehold interests, vessels, insurances, and material patents, trademarks and other
intellectual property but excluding Excluded Collateral) owned by such Foreign Credit Party and
governed by the laws of the jurisdiction in which such Foreign Credit Party is organized, in each
case as the same may be amended, restated, modified and/or supplemented from time to time in
accordance with the terms thereof. Part C of Schedule XII sets forth a list of all Replacement
Foreign Security Agreements and all other Foreign Security Agreements in effect on the Restatement
Effective Date (prior to giving effect to the Foreign Security Document Acknowledgment and/or
Amendments).

          “Foreign Security Document” shall mean each Security Document other than a U.S.
Security Document (including, without limitation, each Foreign Pledge Agreement and each Foreign
Security Agreement).

          “Foreign Security Document Acknowledgement and/or Amendment” shall have the meaning
provided in Section 5.12.

          “Foreign Subsidiaries Guaranty” shall mean the Foreign Subsidiaries Guaranty, dated
as of March 28, 2003, made by the Foreign Subsidiaries of Holdings party thereto in favor of the
Administrative Agent and shall include any counterpart thereof and any other similar guaranty
executed and delivered by any Foreign Subsidiary of Holdings pursuant to Sections 8.11 or 9.11, in
each case, as the same may be amended, restated, modified and/or supplemented from time to time in
accordance with the terms thereof. A copy of the Foreign Subsidiaries Guaranty as in effect on the
Restatement Effective Date is attached hereto as Exhibit G-3.

          “Foreign Subsidiaries Guaranty Acknowledgement” shall have the meaning provided in
Section 5.10(b).

          “Foreign Subsidiary” shall mean, as to any Person, any Subsidiary of such Person that
is not a Domestic Subsidiary of such Person.

          “Foreign Subsidiary Guarantor” shall mean each Foreign Subsidiary of Holdings (other
than the Bermuda Borrower and any Non-Guarantor Subsidiary) which executes and delivers a Foreign
Subsidiaries Guaranty, unless and until such time as the respective Foreign Subsidiary ceases to
constitute a Foreign Subsidiary or is released from all of its obligations under its Foreign
Subsidiaries Guaranty in accordance with the terms and provisions thereof; provided that
each Subsidiary of the U.S. Borrower organized under the laws of Colombia which is a party to the
Special Colombian Put Note Agreement shall be treated as a “Foreign Subsidiary Guarantor” for all
purposes of this Agreement, unless and until such time as the respective Subsidiary ceases to
constitute a Subsidiary or is released from all of its obligations under the Special Colombian Put
Note Agreement.

          “Foreign Unrestricted Subsidiary” of any Person shall mean any Foreign Subsidiary of
such Person that is an Unrestricted Subsidiary.

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          “Fronting Fee” shall have the meaning provided in Section 3.01(d).

          “Gaston
Property” shall have the meaning provided in Section 9.02(xix).

          “Guaranteed Creditors” shall mean and include each of the Agents, the Collateral
Agent, the Lenders, the Issuing Lenders, the Bank Guaranty Issuers and each Person (other than any
Credit Party or any of its Subsidiaries) party to an Interest Rate Protection Agreement or Other
Hedging Agreement with a Borrower and/or one or more of each Borrower’s Subsidiaries, to the
extent that such Person constitutes a Secured Creditor under the Security Documents.

          “Guarantors” shall mean and include each Credit Agreement Party and each Subsidiary
Guarantor.

          “Guaranty” shall mean and include each Credit Agreement Party Guaranty and each Subsidiaries
Guaranty.

          “Hazardous Materials” shall mean (a) any petrochemical or petroleum products,
radioactive materials, asbestos in any form that is or could become friable, urea formaldehyde foam
insulation, transformers or other equipment that contain dielectric fluid containing levels of
polychlorinated biphenyls, and radon gas; and (b) any chemicals, materials or substances defined as
or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,”
“restricted hazardous materials,” “extremely hazardous wastes,” “restrictive hazardous wastes,”
“toxic substances,” “toxic pollutants,” “contaminants” or “pollutants,” or words of similar meaning
and regulatory effect.

          “Holdings” shall have the meaning provided in the first paragraph of this Agreement.

          “Holdings Common Stock” shall have the meaning provided in Section 7.13(a).

          “Holdings Guaranty” shall mean the guaranty of Holdings pursuant to Section
14. 

          “Incremental Term Loan” shall have the meaning provided in Section
1.01(c).

          “Incremental Term Loan Borrower” shall mean (x) the U.S. Borrower, with respect to
U.S. Borrower Incremental Term Loans and (y) the Bermuda Borrower, with respect to Bermuda
Borrower Incremental Term Loans.

          “Incremental Term Loan Borrowing Date” shall mean, with respect to each Tranche of
Incremental Term Loans, each date on which Incremental Term Loans of such Tranche are incurred
pursuant to Section 1.01(c) and as otherwise permitted by Section 1.15.

          “Incremental Term Loan Commitment” shall mean, for each Lender, any commitment to
make Incremental Term Loans provided by such Lender pursuant to Section 1.15, in such amount as
agreed to by such Lender in the respective Incremental Term Loan Commitment Agreement and as set
forth opposite such Lender’s name in Schedule I (as modified in accordance with Section 1.15)
directly below the column entitled “Incremental Term Loan Commitment”, as the same may be (x)
reduced from time to time or terminated pursuant to

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Sections 3.02, 3.03, 4.02 and/or 10 or (y) adjusted from time to time as a result of assignments
to and from such Lender pursuant to Sections 1.13 and/or 13.04(b).

          “Incremental Term Loan Commitment Agreement” shall mean each Incremental Term Loan
Commitment Agreement in the form of Exhibit P (appropriately completed) executed in accordance
with Section 1.15.

          “Incremental Term Loan Commitment Request Requirements” shall mean, with respect to
any request for an Incremental Term Loan Commitment made pursuant to Section 1.15, the satisfaction
of each of the following conditions on the date of such request: (x) no Default or Event of Default
then exists or would result therefrom (for purposes of such determination, assuming the relevant
Loans in an aggregate principal amount equal to the full amount of Incremental Term Loan
Commitments then requested had been incurred, and the proposed Permitted Acquisition (if any) to be
financed with the proceeds of such Loans had been consummated, on such date of request) and all of
the representations and warranties contained herein and in the other Credit Documents are true and
correct in all material respects at such time (unless stated to relate to a specific earlier date,
in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date); (y) calculations are made by the U.S. Borrower of compliance
with the Total Leverage Ratio and the Senior Secured Leverage Ratio set forth Section 9.04(a)
(assuming (and immediately after) the full utilization of the requested Incremental Term Loan
Commitments and the consummation of the proposed Permitted Acquisition (if any) to be financed with
the proceeds of the Loans pursuant thereto (as well as all other Permitted Acquisitions and
Significant Asset Sales theretofore consummated after the first day of the respective Calculation
Period) regardless of whether any Indebtedness is then being incurred pursuant to said Section
9.04(a)) for the Calculation Period most recently ended prior to the date of the requested
Incremental Term Loan Commitments, as set forth in a certificate by an Authorized Officer of the
U.S. Borrower furnished to the Administrative Agent on the date of such request, and such
calculations shall show that, after giving effect to the foregoing assumptions in this clause (y)
and any additional Indebtedness being incurred in connection therewith, the U.S. Borrower would be
in compliance with each of the Total Leverage Ratio and the Senior Secured Leverage Ratio as set
forth in Section 9.04(a) as at the last day of such Calculation Period on a Pro Forma
Basis; and (z) no Incremental Term Loan Commitments are then outstanding, unless the full amount
such Incremental Term Loan Commitments will be utilized on the date of the effectiveness of the
Incremental Term Loan Commitment Agreement to be entered into in connection with the Incremental
Term Loan Commitments of the new Tranche then being requested.

          “Incremental Term Loan Commitment Requirements” shall mean, with respect to any
provision of an Incremental Term Loan Commitment on a given Incremental Term Loan Commitment Date,
the satisfaction of each of the following conditions on or prior to the effective date of the
respective Incremental Term Loan Commitment Agreement: (r) no Default or Event of Default then
exists or would result therefrom (for purposes of such determination, assuming the relevant Loans
in an aggregate principal amount equal to the full amount of Incremental Term Loan Commitments
then provided had been incurred, and the proposed Permitted Acquisition (if any) to be financed
with the proceeds of such Loans had been consummated, on such date of effectiveness) and all of
the representations and warranties contained herein and in the other Credit Documents are true and
correct in all material respects at such time (unless

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stated to relate to a specific earlier date, in which case such representations and warranties
shall be true and correct in all material respects as of such earlier date); (s) calculations are
made by the U.S. Borrower of compliance with the Total Leverage Ratio and the Senior Secured
Leverage Ratio set forth Section 9.04(a) (assuming (and immediately after) the full utilization of
the requested Incremental Term Loan Commitments and the consummation of the proposed Permitted
Acquisition (if any) to be financed with the proceeds of the Loans pursuant thereto (as well as all
other Permitted Acquisitions and Significant Asset Sales theretofore consummated after the first
day of the respective Calculation Period) regardless of whether any Indebtedness is then being
incurred pursuant to said Section 9.04(a)) for the Calculation Period most recently ended prior to
the date of the requested Incremental Term Loan Commitments, as set forth in a certificate by an
Authorized Officer of the U.S. Borrower furnished to the Administrative Agent on the date of such
request, and such calculations shall show that, after giving effect to the foregoing assumptions in
this clause (s) and any additional Indebtedness being incurred in connection therewith, the U.S.
Borrower would be in compliance with each of the Total Leverage Ratio and the Senior Secured
Leverage Ratio as set forth in Section 9.04(a) as at the last day of such Calculation Period on a
Pro Forma Basis; (t) the delivery by Holdings to the Administrative Agent of an officer’s
certificate executed by an Authorized Officer of Holdings and certifying as to compliance with
preceding clauses (r) and (s) and containing the calculations required by clause (s); (u) the
delivery by Holdings to the Administrative Agent of an officer’s certificate executed by an
Authorized Officer of Holdings certifying which provisions of the ABL Credit Agreement, the
Existing 2009 Senior Notes Indenture, the Existing 2013 Senior Notes Indenture, the Existing 2010
Senior Notes Indenture, the Existing 2011 Senior Notes Indenture, the Intermediate Holdco Credit
Agreement, each Wellbeing Project Financing Document and (after the execution and delivery thereof)
each Permitted Senior Notes Indenture and each Permitted Senior Refinancing Notes Document that the
respective incurrence of Incremental Loans will be justified under and demonstrating in reasonable
detail that the full amount of such Incremental Term Loans may be incurred in accordance with, and
will not violate the provisions of, the ABL Credit Agreement, the Existing 2009 Senior Notes
Indenture, the Existing 2013 Senior Notes Indenture, the Existing 2010 Senior Notes Indenture, the
Existing 2011 Senior Notes Indenture, the Intermediate Holdco Credit Agreement, each Wellbeing
Project Financing Document and (after the execution and delivery thereof) each Permitted Senior
Notes Indenture and each Permitted Senior Refinancing Notes Document; (v) the delivery by Holdings
to the Administrative Agent of an acknowledgement in form and substance reasonably satisfactory to
the Administrative Agent and executed by each Guarantor (in the case of an Incremental Term Loan
Commitment requested by the Bermuda Borrower) or each U.S. Credit Party other than the U.S.
Borrower (in the case of an Incremental Term Loan Commitment requested by the U.S. Borrower), as
the case may be, acknowledging that such Incremental Term Loan Commitment and all Loans
subsequently incurred pursuant to such Incremental Term Loan Commitment shall constitute (and be
included in the definition of) “Guaranteed Obligations” under each Guaranty of such Guarantor; (w)
the delivery by Holdings and its Subsidiaries of such technical amendments, modifications and/or
supplements to the respective Security Documents as are reasonably requested by the Administrative
Agent to ensure that the additional Obligations to be incurred pursuant to the Incremental Term
Loan Commitments are secured by, and entitled to the benefits of, the relevant Security Documents,
and each of the Lenders hereby agrees to, and authorizes the Collateral Agent to enter into, any
such technical amendments, modifications and/or supplements; (x) the delivery by Holdings to the
Administrative Agent of

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an opinion or opinions, in form and substance reasonably satisfactory to the Administrative Agent,
from counsel to the Credit Parties reasonably satisfactory to the Administrative Agent and dated
such date, covering such of the matters set forth in the opinions of counsel delivered to the
Administrative Agent on the Initial Borrowing Date pursuant to Section 5.03 of the Original Credit
Agreement as may be reasonably requested by the Administrative Agent, and such other matters
incident to the transactions contemplated thereby as the Administrative Agent may reasonably
request; (y) the delivery by Holdings and the other Credit Parties to the Administrative Agent of
such other officers’ certificates, resolutions and evidence of good standing as the Administrative
Agent shall reasonably request; and (z) the completion by Holdings and the other Credit Parties of
such other actions as the Administrative Agent may reasonably request in connection with such
Incremental Term Loan Commitment, it being understood and agreed that the Administrative Agent may
(in its sole discretion) agree that the delivery of technical amendments, modifications and/or
supplements to the respective Security Documents pursuant to sub-clause (w) of the preceding
sentence may occur after the incurrence of Loans to be made pursuant to the respective Incremental
Term Loan Commitments (subject to a time frame to be agreed by the Administrative Agent), in which
case said sub-clause (w) will be deemed satisfied at the time of the incurrence of such Loans, so
long as such technical amendments, modifications and/or supplements to the respective Security
Documents are subsequently delivered within the time frame stipulated by the Administrative Agent.

          “Incremental Term Loan Commitment Termination Date” shall mean, with respect to any
Tranche of Incremental Term Loans, the last date by which Incremental Term Loans under such
Tranche may be incurred under this Agreement, which date shall be set forth in the respective
Incremental Term Loan Commitment Agreement but may be no later than the date which is 12 months
prior to the then latest Maturity Date.

          “Incremental Term Loan Lender” shall have the meaning provided in Section 1.15(b).

          “Incremental Term Loan Maturity Date” shall mean, for any Tranche of Incremental Term
Loans, the final maturity date set forth for such Tranche of Incremental Term Loans in the
respective Incremental Term Loan Commitment Agreement relating thereto, provided that the
final maturity date for all Incremental Term Loans of a given Tranche shall be the same date.

          “Incremental Term Loan Scheduled Repayment” shall have the meaning provided in
Section 4.02(b)(iii).

          “Incremental Term Note” shall have the meaning provided in Section 1.05(a).

          “Indebtedness” shall mean, as to any Person, without duplication, (i) all indebtedness
(including principal, interest, fees and charges) of such Person for borrowed money or for the
deferred purchase price of property or services, (ii) the maximum amount available to be drawn or
paid under all letters of credit, bankers’ acceptances, bank guaranties and similar obligations
issued for the account of such Person and all unpaid drawings and unreimbursed payments in respect
of such letters of credit, bankers’ acceptances, bank guaranties and similar obligations, (iii) all
indebtedness of the types described in clause (i), (ii), (iv), (v), (vi) or (vii) of

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this definition secured by any Lien on any property owned by such Person, whether or not such
indebtedness has been assumed by such Person (provided that, if the Person has not assumed
or otherwise become liable in respect of such indebtedness, such indebtedness shall be deemed to
be in an amount equal to the fair market value of the property to which such Lien relates as
determined in good faith by such Person), (iv) the aggregate amount of all Capitalized Lease
Obligations of such Person, (v) all obligations of such Person to pay a specified purchase price
for goods or services, whether or not delivered or accepted, i.e., take-or-pay and similar
obligations, (vi) all Contingent Obligations of such Person, and (vii) all obligations under any
Interest Rate Protection Agreement, any Other Hedging Agreement, Commodity Agreements or under any
similar type of agreement and (viii) obligations arising under Synthetic Leases. Notwithstanding
the foregoing, Indebtedness shall not include trade payables, accrued expenses and deferred tax
and other credits incurred by any Person in accordance with customary practices and in the
ordinary course of business of such Person.

          “Indemnified Person” shall have the meaning provided in Section 13.01.

          “Individual CL Exposure” of any CL Lender shall mean, at any time, such CL Lender’s
applicable CL Percentage of the Aggregate CL Exposure.

          “Initial Borrowing Date” shall have the meaning provided in the Original Credit
Agreement.

          “Intercompany Debt” shall mean any Indebtedness, payables or other obligations,
whether now existing or hereafter incurred, owed by Holdings or any Subsidiary of Holdings to
Holdings or any other Subsidiary of Holdings.

          “Intercompany Distribution Transaction Documents” shall mean all of the documents and
instruments entered into in connection with the Intercompany Distribution Transactions, in each
case as the same may be amended, modified or supplemented from time to time in accordance with the
terms hereof and thereof.

          “Intercompany Distribution Transactions” shall have the meaning provided in Section
5.09(b) of the Original Credit Agreement.

          “Intercompany Note” shall mean a promissory note evidencing intercompany loans made
pursuant to Sections 9.05(vi), (xxi) and (xxii), in each case duly executed and delivered
substantially in the form of Exhibit K, with blanks completed in conformity herewith (or such
other form as may be approved by the Administrative Agent or the Required Lenders).

          “Intercompany Receivables Documents” shall mean those certain intercompany purchase
agreements, dated as of March 28, 2003, entered into by the U.S. Borrower and the Bermuda
Partnership Partners, providing for the sale of accounts receivable by the Bermuda Partnership
Partners to, and the purchase of accounts receivable by, the U.S. Borrower, which sale arrangements
shall be on a non-recourse basis and for reasonably equivalent value and otherwise on terms
satisfactory to the Agents, as the same may be amended, modified and/or supplemented from time to
time.

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          “Intercompany Scheduled Existing Indebtedness” shall have the meaning provided in
Section 7.21.

          “Intercompany Subordination Agreement” shall mean the Intercompany Subordination
Agreement, dated as of March 28, 2003, made by Holdings and various of its Subsidiaries party
thereto in favor of the Administrative Agent, as the same may be amended, restated, modified
and/or supplemented from time to time in accordance with the terms thereof (including, without
limitation, as modified by the Intercompany Subordination Agreement Acknowledgement). A copy of
the Intercompany Subordination Agreement as in effect on the Restatement Effective Date is
attached hereto as Exhibit O-2.

          “Intercompany Subordination Agreement Acknowledgement” shall have the meaning
provided in Section 5.10(c).

          “Intercreditor Agreement” shall have the meaning provided in Section 5.18.

          “Interest Determination Date” shall mean, with respect to any Eurodollar Loan, the
second Business Day prior to the commencement of any Interest Period relating to such Eurodollar
Loan.

          “Interest Period” shall mean (i) with respect to any Eurodollar Loan, the interest period
applicable thereto, as determined pursuant to Section 1.09 and (ii) as to any investment of the
Credit-Linked Deposits, the period commencing on the Restatement Effective Date and ending on the
date that is one month thereafter and each successive one month period thereafter, provided
that (x) if any Interest Period for the Credit-Linked Deposits begins on a day for which there is
no numerically corresponding day in the calendar month at the end of such Interest Period, such
Interest Period shall end on the last Business Day of such calendar month, and (y) if any Interest
Period for the Credit-Linked Deposits would otherwise expire on a day which is not a Business Day,
such Interest Period shall expire on the next succeeding Business Day, although if any Interest
Period for the Credit-Linked Deposits would otherwise expire on a day which is not a Business Day
but is a day of the month after which no further Business Day occurs in such month, such Interest
Period shall expire on the next preceding Business Day.

          “Interest Rate Protection Agreement” shall mean any interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement,
interest rate floor agreement or other similar agreement or arrangement.

          “Intermediate Holdco” shall have the meaning provided in the first paragraph of this
Agreement.

          “Intermediate Holdco Collateral” shall have the meaning provided in the U.S. Pledge
Agreement.

          “Intermediate Holdco Credit Agreement” shall mean that certain Second Lien Senior
Credit Agreement, dated as of July 22, 2004, among Intermediate Holdco, Corporate Holdco, the
Lenders from time to time party thereto, Deutsche Bank AG New York branch, as Agent (as defined
therein) and Deutsche Bank Securities Inc., as Arranger (as defined therein),

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as the same may be amended, modified or supplemented from time to time in accordance with the
terms hereof and thereof.

          “Intermediate Holdco Credit Documents” shall mean the “Credit Documents” as defined
in the Intermediate Holdco Credit Agreement, as the same may be amended, modified or supplemented
from time to time in accordance with the terms hereof and thereof.

          “Intermediate Holdco Indebtedness” shall mean the Indebtedness of Intermediate Holdco
and Corporate Holdco (as co-issuers) pursuant to the Intermediate Holdco Credit Documents.

          “Intermediate Holdco Irrevocable Prepayment Notice” shall have the meaning provided
in Section 5.08(a).

          “Intermediate Holdco Paying Agent” shall have the meaning provided in Section
5.08(a).

          “Intermediate Holdco Prepayment Consummation” shall have the meaning provided in
Section 8.21.

          “Intermediate Holdco Prepayment Date” shall have the meaning provided in Section
5.08(a).

          “Intermediate Holdco Prepayment Funds” shall have the meaning provided in Section
5.08(a).

          “Intermediate Holdco Refinancing” shall have the meaning provided in Section 5.08.

          “Investment” shall have the meaning provided in the preamble to Section 9.05.

          “Issuing Lender” shall mean (i) if and to the extent it agrees to act as such, any Agent (and
any of such Agent’s affiliates and/or branches), (ii) any ABL Lender (and any of such ABL Lender’s
affiliates and/or branches) or any CL Lender (and any of such CL Lender’s affiliates and/or
branches) which at the request of the U.S. Borrower or the Bermuda Borrower and with the consent of
the Administrative Agent agrees, in such ABL Lender’s or CL Lender’s (or their respective
affiliate’s or branch’s) sole discretion, to become an Issuer Lender for the purpose of issuing
Letters of Credit pursuant to Section 2A and (iii) with respect to the Existing Letters of Credit,
the Lender or Original Lender (and any of such Lender’s or Original Lender’s affiliates and/or
branches) designated as the issuer thereof on Part A of Schedule XI shall be the Issuing Lender
thereof.

          “Italian Collateral Documents” shall have the meaning provided in Section 12.15(i).

          “Judgment Currency” shall have the meaning provided in Section 13.22(a).

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          “Judgment Currency Conversion Date” shall have the meaning provided in Section
13.22(a).

          “Landlord-Lender Agreement” shall mean each agreement between a landlord of each U.S.
Leasehold Property and the Collateral Agent entered into pursuant to the terms of this Agreement.

          “L/C Participant” shall have the meaning provided in Section 2A.04(a).

          “L/C
Participation” shall have the meaning provided in Section 2A.04(a).

          “L/C Supportable Indebtedness” shall mean (i) obligations of the U.S. Borrower or its
Wholly-Owned Subsidiaries incurred in the ordinary course of business with respect to insurance
obligations and workers’ compensation, surety bonds and other similar statutory obligations, (ii)
obligations of the U.S. Borrower and its Wholly-Owned Subsidiaries under bank guaranties issued by
financial institutions in support of obligations of the U.S. Borrower and its Wholly-Owned
Subsidiaries otherwise permitted to exist pursuant to the terms of this Agreement and (iii) such
other obligations of the U.S. Borrower or any of its Wholly-Owned Subsidiaries as are reasonably
acceptable to the Administrative Agent and the respective Issuing Lender and otherwise permitted
to exist pursuant to the terms of this Agreement.

          “Lead Arranger” shall mean DBSI, each in its capacity as Lead Arranger and Sole Book Runner.

          “Leasehold” of any Person shall mean all of the right, title and interest of such Person as
lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

          “Leasehold Property” shall mean each Real Property leased by the U.S. Borrower or any
of its Subsidiaries and for which Landlord-Lender Agreements shall be required pursuant to this
Agreement.

          “Lender” shall mean and include each financial institution with a Commitment (or Original
Tranche B Term Loans to be converted into Tranche C Term Loans on the Restatement Effective Date)
listed on Schedule I (as amended from time to time), as well as any Person that becomes a “Lender”
hereunder pursuant to Sections 1.13, 1.15, and/or 13.04(b). Unless the context otherwise requires,
each reference in this Agreement to a Lender includes each lending office (including any Affiliate
of the respective Lender) of the respective Lender designated from time to time pursuant to
Section 1.12.

          “Lender Default” shall mean (i) the wrongful refusal (which has not been retracted) of a
Lender to make available its portion of any Borrowing, to fund its portion of any unreimbursed
payment under Sections 2A.04 or 2B.04 or (ii) a Lender having notified the Administrative Agent
and/or any Credit Agreement Party that it does not intend to comply with its obligations under
Sections 1.01, 2A.03 or 2B.03 in circumstances where such non-compliance would constitute a breach
of such Lender’s obligations under the respective Section.

          “Letter of Credit” shall have the meaning provided in Section 2A.01(a).

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          “Letter of Credit Outstandings” shall mean, at any time, the sum of (i) the aggregate
Stated Amount of all outstanding Letters of Credit which have not terminated at such time and (ii)
the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit at such time.

          “Letter of Credit Request” shall have the meaning provided in Section
2A.03(a).

          “LIBOR Rate” shall mean, for any Interest Period with respect to the investment of the
Credit-Linked Deposits, the rate for deposits in Dollars for a period of one month which appears
on Telerate Page 3750 (or any successor page) as of 11:00 A.M. (London time) on the day that is
two Business Days preceding the beginning of such Interest Period. If such rate does not appear on
Telerate Page 3750 (or any successor page), the rate for that Interest Period will be the rate
determined in good faith by the Administrative Agent on the basis of the rates at which deposits
in Dollars are offered by four major banks in the London interbank market at approximately 11:00
A.M. (London time), on the day that is two Business Days preceding the beginning of the new
Interest Period to prime banks in the London interbank market for a period of one month commencing
on the beginning of the new Interest Period and in the then outstanding amount of the
Credit-Linked Deposits. The Administrative Agent will request the principal London office of each
of such four major banks in the London interbank market to provide a quotation of its rate. If at
least two such quotations are provided, the rate for that new Interest Period will be the
arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the
rate for that Interest Period will be the arithmetic mean of the rates quoted by major banks in
New York City, selected by the Administrative Agent, at approximately 11:00 A.M. (New York City
time), on the beginning of the new Interest Period for loans in Dollars to leading European banks
for a period of one month commencing on the beginning of the new Interest Period and in the amount
of the Credit-Linked Deposits.

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit arrangement,
security interest, encumbrance, lien (statutory or other), charge, preference, priority or other
security agreement of any kind or nature whatsoever (including any agreement to give any of the
foregoing, any conditional sale or other title retention agreement, any financing or similar
statement or notice filed under the UCC or any similar recording or notice statute, and any lease
having substantially the same effect as the foregoing).

          “Loan” shall mean each Tranche B Term Loan, each Tranche C Term Loan and each Incremental
Term Loan.

          “Local Law Pledge Agreements” shall mean the Local Law Pledge Agreements (as defined
in the Original Credit Agreement) entered into pursuant to the Original Credit Agreement and any
other pledge agreement entered into by a Credit Party pursuant to this Agreement (x) covering
promissory notes of, and/or Equity Interests in, one or more Persons organized under the laws of a
different jurisdiction from the jurisdiction of organization of such Credit Party and (y) governed
by the laws of the jurisdiction or jurisdictions in which the Person or Persons whose promissory
notes or Equity Interests are being pledged is (or are) organized, in each case as the same may be
amended, restated, modified and/or supplemented from time to time in accordance with the terms
thereof. Part B of Schedule XII sets forth a list of all Local Law Pledge Agreements in effect on
the Restatement Effective Date.

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          “Majority Lenders” of any Tranche shall mean those Non-Defaulting Lenders which would
constitute the Required Lenders under, and as defined in, this Agreement if all outstanding
Obligations of the other Tranches under this Agreement were repaid in full and all Commitments
with respect thereto were terminated.

          “Management Agreements” shall have the meaning provided in Section 5.13(ii).

          “Margin Regulations” shall mean, collectively, Regulation T, Regulation U and
Regulation X.

          “Margin Stock” shall have the meaning provided in Regulation U.

          “Material Adverse Effect” shall mean (i) a material adverse effect on the business,
properties, assets, nature of assets, operations, liabilities, condition (financial or otherwise)
or prospects of (A) Holdings and its Subsidiaries taken as a whole or (B) the U.S. Borrower and
its Subsidiaries taken as a whole, or (ii) a material adverse effect (x) on the rights or remedies
of the Lenders or any Agent hereunder or under any other Credit Document or (y) on the ability of
any Credit Party to perform its obligations to the Lenders or any Agent hereunder or under any
other Credit Document; provided that the occurrence of an Excluded Event shall not
constitute a “Material Adverse Effect” for purposes of this definition.

          “Material Foreign Subsidiary” shall mean, at any time, any Foreign Subsidiary of
Holdings the net book value of the assets of which equals or exceeds $5,000,000 at such time;
provided that for purposes of (and only of) Section 8.01(i), the term “Material Foreign
Subsidiary” shall mean, at any time, any Foreign Subsidiary of Holdings the net book value of the
assets of which equals or exceeds $10,000,000 at such time.

          “Material Governmental Investigation” shall mean, at any time, any material
governmental investigation in a country in which the aggregate net book value of the assets owned
by Holdings and its Subsidiaries in such country (determined as of the last day of the Fiscal
Quarter then last ended) exceeds $25,000,000.

          “Maturity Date” shall mean (i) with respect to Tranche B Term Loans, the Tranche B/C Term
Loan Maturity Date, (ii) with respect to Tranche C Term Loans, the Tranche B/C Term Loan Maturity
Date, (iii) with respect to Incremental Term Loans of a given Tranche, the respective Incremental
Term Loan Maturity Date therefor, and (iv) with respect to the CL Tranche, the CL Maturity Date.

          “Maximum Incremental Term Loan Commitment Amount” shall mean $250,000,000.

          “Maximum Permitted Consideration” shall mean, with respect to any Permitted
Acquisition, the sum (without duplication) of (i) the fair market value of the Holdings Common
Stock (based on the average closing trading price of the Holdings Common Stock for the 20 trading
days immediately prior to the date of such Permitted Acquisition on the stock exchange on which
Holdings Common Stock is listed or, if Holdings Common Stock is not so listed, the good faith
determination of the senior management of Holdings) issued (or to be issued) as consideration in
connection with such Permitted Acquisition (including, without limitation,

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Holdings Common Stock which may be required to be issued as earnout consideration upon the
achievement of certain future performance goals of the respective Acquired Entity or Business),
(ii) the aggregate amount of all cash paid (or to be paid) by Holdings or any of its Subsidiaries
in connection with such Permitted Acquisition (including, without limitation, payments of fees and
costs and expenses in connection therewith) and all contingent cash purchase price or other
earnout obligations of Holdings and its Subsidiaries incurred in connection therewith (as
determined in good faith by Holdings), (iii) the aggregate principal amount of all Indebtedness
assumed, incurred and/or issued in connection with such Permitted Acquisition to the extent
permitted by Section 9.04 and (iv) the fair market value (determined in good faith by senior
management of Holdings) of all other consideration payable in connection with such Permitted
Acquisition.

          “Minimum Applicable Facing Fee” shall mean $500.

          “Minimum Applicable Fronting Fee” shall mean $500.

          “Minimum Borrowing Amount” shall mean, for any Loans, $5,000,000.

          “Moody’s” shall mean Moody’s Investors Service, Inc.

          “Mortgage” shall mean each mortgage, deed of trust or deed to secure debt required to be
delivered with respect to any Real Property pursuant to the terms of this Agreement (including,
after the execution and delivery thereof, each Additional Mortgage covering a Mortgaged Property),
together with any assignment of leases and rents to be executed in connection therewith, in each
case as the same may be amended, modified and/or supplemented from time to time in accordance with
the terms hereof and thereof.

          “Mortgage Policy” shall mean each mortgage title insurance policy (and all
endorsements thereto) for each Mortgaged Property required to be delivered pursuant to this
Agreement.

          “Mortgaged Property” shall mean each Real Property owned by Holdings or any of its
Subsidiaries and required to be mortgaged pursuant to this Agreement (including, after the
execution and delivery of any Additional Mortgage covering Real Property, the respective
Additional Mortgaged Property).

          “Multiemployer Plan” shall mean (i) any plan, as defined in Section 4001(a)(3) of
ERISA, which is maintained or contributed to (or to which there is an obligation to contribute to)
by Holdings or a Subsidiary of Holdings or an ERISA Affiliate and that is subject to Title IV of
ERISA, and (ii) each such plan for the five year period immediately following the latest date on
which Holdings, a Subsidiary of Holdings or an ERISA Affiliate maintained, contributed to or had an
obligation to contribute to such plan.

          “Murdock” shall mean (i) David H. Murdock, individually, and as trustee for the David H.
Murdock Living Trust and (ii) the David H. Murdock Living Trust, dated as of May 28, 1986, as
amended.

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          “Net Cash Proceeds” shall mean for any event requiring a reduction of the Total
Incremental Term Loan Commitment and/or Total Credit-Linked Commitment and/or repayment of Term
Loans pursuant to Section 3.03 or 4.02, as the case may be, the gross cash proceeds (including any
cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise,
but only as and when received) received from such event, net of reasonable transaction costs
(including, as applicable, any underwriting, brokerage or other customary commissions and
reasonable legal, advisory and other fees and expenses associated therewith) received from any such
event.

          “Net Sale Proceeds” shall mean for any sale or other disposition of assets, the gross
cash proceeds (including any cash received by way of deferred payment pursuant to a promissory
note, receivable or otherwise, but only as and when received) received from such sale or other
disposition of assets, net of (i) reasonable transaction costs (including, without limitation, any
underwriting, brokerage or other customary selling commissions, reasonable legal, advisory and
other fees and expenses (including title and recording expenses), associated therewith and sales,
VAT and transfer taxes arising therefrom), (ii) payments of unassumed liabilities relating to the
assets sold or otherwise disposed of at the time of, or within 30 days after, the date of such
sale or other disposition, (iii) the amount of such gross cash proceeds required to be used to
permanently repay any Indebtedness (other than Indebtedness of the Lenders pursuant to this
Agreement and the Indebtedness of the ABL Lenders under the ABL Credit Documents) which is secured
by the respective assets which were sold or otherwise disposed of, and (iv) the estimated net
marginal increase in income taxes which will be payable by Holdings’ consolidated group or any
Subsidiary of Holdings with respect to the Fiscal Year in which the sale or other disposition
occurs as a result of such sale or other disposition;
provided, however, that such gross
proceeds shall not include any portion of such gross cash proceeds which Holdings determines in
good faith should be reserved for post-closing adjustments (to the extent Holdings delivers to the
Lenders a certificate signed by its chief financial officer or treasurer, controller or chief
accounting officer as to such determination), it being understood and agreed that on the day that
all such post-closing adjustments have been determined (which shall not be later than six months
following the date of the respective asset sale), the amount (if any) by which the reserved amount
in respect of such sale or disposition exceeds the actual post-closing adjustments payable by
Holdings or any of its Subsidiaries shall constitute Net Sale Proceeds on such date received by
Holdings and/or any of its Subsidiaries from such sale or other disposition.

          “New Credit Party” shall mean and include any Credit Party which was not a Credit
Party under, and as defined in, the Original Credit Agreement on the Original Effective Date.

          “New Foreign Subsidiary Guarantor” shall mean and include any Foreign Subsidiary
Guarantor which was not a Foreign Subsidiary Guarantor under, and as defined in, the Original
Credit Agreement on the Original Effective Date.

          “New U.S. Credit Party” shall mean and include each New Credit Party that is a U.S.
Credit Party.

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          “Non-Consenting Tranche C Term Loan Lender” shall mean each Lender under, and as
defined in, the Original Credit Agreement with outstanding Original Tranche B Term Loans on the
Restatement Effective Date (immediately prior to giving effect thereto) that is not a Consenting
Tranche C Term Loan Lender.

          “Non-Defaulting Lender” shall mean each Lender other than a Defaulting
Lender.

          “Non-Dollar Currencies” shall mean and include each Alternative
Currency.

          “Non-Dollar Denominated Bank Guaranty” shall mean all Bank Guaranties other than
Dollar Denominated Bank Guaranties.

          “Non-Dollar Denominated Bank Guaranty Outstandings” shall mean all Bank Guaranty
Outstandings other than Dollar Denominated Bank Guaranty Outstandings.

          “Non-Dollar Denominated B/G Cushion Amount” shall mean, at any time with respect to
any Non-Dollar Denominated Bank Guaranty, an amount equal to 5% of the Face Amount of such
Non-Dollar Denominated Bank Guaranty, with such Face Amount determined for this purpose in
accordance with the definition thereof contained herein without giving effect to clause (y) of the
proviso thereto.

          “Non-Dollar Denominated Letters of Credit” shall mean all Letters of Credit other
than Dollar Denominated Letters of Credit.

          “Non-Dollar Denominated Letter of Credit Outstandings” shall mean all Letter of Credit
Outstandings other than Dollar Denominated Letter of Credit Outstandings.

          “Non-Dollar Denominated L/C Cushion Amount” shall mean, at any time with respect to
any Non-Dollar Denominated Letter of Credit, an amount equal to 5% of the Stated Amount of such
Non-Dollar Denominated Letter of Credit, with such Stated Amount determined for this purpose in
accordance with the definition thereof contained herein without giving effect to clause (y) of the
proviso thereto.

          “Non-Guarantor Subsidiaries” shall mean (i) on the Restatement Effective Date, each
Subsidiary of Holdings listed on Part A of Schedule XIII and (ii) after the Restatement Effective
Date, any Subsidiary of the U.S. Borrower that is not at such time a Subsidiary Guarantor.

          “Non-Qualified Jurisdiction” at any time shall mean each jurisdiction that is not at
such time a Qualified Jurisdiction.

          “Non-U.S. Dole Group” shall mean the Consolidated Subsidiaries of the U.S. Borrower
which are not members of the U.S. Dole Group.

          “Non-Wholly Owned Subsidiary” shall mean, as to any Person, each Subsidiary of such
Person which is not a Wholly-Owned Subsidiary of such Person.

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          “Note” shall mean each Tranche B Term Note, each Tranche C Term Note and each Incremental
Term Note.

          “Notice of Borrowing” shall have the meaning provided in Section 1.03(a).

          “Notice of Conversion/Continuation” shall have the meaning provided in Section 1.06.

          “Notice Office” shall mean the office of the Administrative Agent located at 60 Wall Street,
New York, New York 10005 or such other office as the Administrative Agent may designate to
Holdings and the Lenders from time to time.

          “Obligation Currency” shall have the meaning provided in Section 13.22(a).

          “Obligations” shall mean all amounts, direct or indirect, contingent or absolute, of every
type or description, and at any time existing, owing to any Agent, the Collateral Agent, any
Issuing-Lender, any Bank Guaranty Issuer or any Lender pursuant to the terms of this Agreement or
any other Credit Document.

          “Original Agent” shall mean each “Agent” under, and as defined in, the Original Credit
Agreement.

          “Original Credit Agreement” shall have the meaning provided in the first WHEREAS
clause of this Agreement.

          “Original Effective Date” shall mean the Restatement Effective Date under, and as
defined in, the Original Credit Agreement.

          “Original Lenders” shall mean the Lenders under, and as defined in, the Original
Credit Agreement with outstanding Original Loans on the Restatement Effective Date (immediately
prior to giving effect thereto).

          “Original Loan” shall mean each “Loan” under, and as defined in, the Original Credit
Agreement.

          “Original Required Lenders” shall mean the “Required Lenders” under, and as defined
in, the Original Credit Agreement.

          “Original Revolving Loan” shall mean a “Revolving Loan” under, and as defined in, the
Original Credit Agreement.

          “Original U.S. Security Agreement” shall mean the “U.S. Security Agreement” under,
and as defined in, the Original Credit Agreement.

          “Original Swingline Loan” shall mean a “Swingline Loan” under, and as defined in, the
Original Credit Agreement.

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          “Original Tranche B Term Loan” shall mean a “Tranche B Term Loan” under, and as
defined in, the Original Credit Agreement.

          “Other Hedging Agreements” shall mean any foreign exchange contracts, currency swap
agreements or other similar agreements or arrangements designed to protect against fluctuations in
currency values.

          “Parent Business Condition” shall mean, for any quarterly accounting period or Fiscal
Year, (A) Holdings having at all times during such period (i) owned no significant assets (other
than (w) the proceeds of the Wellbeing Project Financing, (x) the Equity Interests of Intermediate
Holdco (y) Intercompany Notes evidencing intercompany loans permitted to be made by it pursuant to
Section 9.05 and (z) the Equity Interests of the Unrestricted Wellbeing Joint Ventures, Westlake
Wellbeing Company LLC and The California Wellbeing Institute, LLC), (ii) had no liabilities or
Indebtedness (other than those liabilities and Indebtedness permitted by Section 9.0l(b)) and
(iii) otherwise complied with the requirements of Section 9.01(b), (B) Intermediate Holdco having
at all times during such period (i) owned no significant assets (other than the capital stock of
the U.S. Borrower and Corporate Holdco and Intercompany Notes evidencing intercompany loans
permitted to be made by it pursuant to Section 9.05) and had no liabilities or Indebtedness (other
than those liabilities and Indebtedness permitted by Section 9.01 (j)) and (ii) otherwise complied
with the requirements of Section 9.01(j) and (C) Corporate Holdco having at all times during such
period (i) owned no significant assets and had no liabilities or Indebtedness (other than those
liabilities and Indebtedness permitted by Section 9.0 l(k)) and (ii) otherwise complied with the
requirements of Section 9.01(k).

          “Participating Member State” shall mean, at any time, any member state of the
European Union which has adopted the Euro as its lawful currency at such time.

          “Payment Office” shall mean the office of the Administrative Agent located at 60 Wall Street,
New York, New York 10005 or such other office as the Administrative Agent may hereafter designate
in writing to Holdings and the Lenders from time.

          “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Section
4002 of ERISA, or any successor thereto.

          “Permitted Acquired Debt” shall have the meaning set forth in Section 9.04(b)(vi).

          “Permitted Acquisition” shall mean the acquisition by the U.S. Borrower or any of its
Wholly-Owned Subsidiaries of assets constituting a business, division or product line of any
Person, not already a Subsidiary of the U.S. Borrower or any of its Wholly-Owned Subsidiaries, or
of 100% of the capital stock or other Equity Interests of any such Person, which Person shall, as a
result of such acquisition, become a Wholly-Owned Subsidiary of the U.S. Borrower or such
Wholly-Owned Subsidiary, provided that (A) the consideration paid by the U.S. Borrower or
such Wholly-Owned Subsidiary consists solely of cash (including proceeds of ABL Loans), the
issuance of Holdings Common Stock, the issuance of Qualified Preferred Stock, the incurrence of
Indebtedness otherwise permitted pursuant to Section 9.04 and the

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assumption/acquisition of any Permitted Acquired Debt relating to such business, division, product
line or Person which is permitted to remain outstanding in accordance with the requirements of
Section 9.04, (B) in the case of the acquisition of 100% of the capital stock or other Equity
Interests of any Acquired Entity or Business, such Acquired Entity or Business shall own no
capital stock or other Equity Interests of any other Person unless either (x) the Acquired Entity
or Business owns 100% of the capital stock or other Equity Interests of such other Person or (y)
if the Acquired Entity or Business owns capital stock or Equity Interests in any other Person
which is a Non-Wholly Owned Subsidiary of the Acquired Entity or Business, (1) the Acquired Entity
or Business shall not have been created or established in contemplation of, or for purposes of,
the respective Permitted Acquisition, (2) such Non-Wholly Owned Subsidiary of the Acquired Entity
or Business shall have been a Non-Wholly Owned Subsidiary of the Acquired Entity or Business prior
to the date of the respective Permitted Acquisition and not created or established in
contemplation thereof and (3) the Acquired Entity or Business and/or its Wholly-Owned Subsidiaries
own at least 80% of the total value of all the assets owned by such Acquired Entity or Business
and its subsidiaries (for purposes of such determination, excluding the value of the Equity
Interests of Non-Wholly Owned Subsidiaries held by such Acquired Entity or Business and its
Wholly-Owned Subsidiaries), (C) the Acquired Entity or Business shall be a Permitted Business and
(D) all applicable requirements of Sections 8.11, 8.15 and 9.02 applicable to Permitted
Acquisitions are satisfied. Notwithstanding anything to the contrary contained in the immediately
preceding sentence, an acquisition which does not otherwise meet the requirements set forth above
in the definition of “Permitted Acquisition” shall constitute a Permitted Acquisition if, and to
the extent, the Required Lenders agree in writing that such acquisition shall constitute a
Permitted Acquisition for purposes of this Agreement.

          “Permitted Business” shall mean any business which (i) is the same, similar, ancillary
or reasonably related to the business in which Holdings or any of its Subsidiaries is engaged on
the Original Effective Date or (ii) is conducted by an Acquired Entity or Business acquired
pursuant to a Permitted Acquisition and which does not qualify as a “Permitted Business” pursuant
to preceding clause (i), so long as (x) such business represents an immaterial portion of the
businesses acquired pursuant to such Permitted Acquisition and (y) such business is sold or
otherwise disposed of as soon as reasonably practicable following the consummation of such
Permitted Acquisition (but, in any event, within one year following such Permitted Acquisition).

          “Permitted Encumbrances” shall mean, with respect to any Mortgaged Property, such
exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of
which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

          “Permitted Holders” shall mean David H. Murdock, a Qualified Trust and any
majority-owned and controlled Affiliate of David H. Murdock or a Qualified Trust.

          “Permitted Indebtedness” shall have the meaning provided in Section 9.04(b).

          “Permitted Installment Note” shall mean a promissory note issued as consideration to
the U.S. Borrower or any of its Subsidiaries in connection with a Contemplated Asset Sale, which
note (i) shall be secured by the assets subject to the respective Contemplated Asset Sale and (ii)
in the case of a Contemplated Asset Sale made by a Credit Party, shall be

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pledged to the Collateral Agent pursuant to the relevant Security Documents; provided that
no such note may be issued in connection with a Contemplated Asset Sale if the aggregate principal
amount of such note, when added to the aggregate outstanding principal amount of all other
Permitted Installment Notes theretofore issued (without regard to any write-downs or write-offs
thereof), would exceed $35,000,000.

          “Permitted Liens” shall have the meaning provided in Section 9.03.

          “Permitted Refinancing Indebtedness” shall mean any Indebtedness of the U.S. Borrower
and its Subsidiaries issued or given in exchange for, or the proceeds of which are used to,
extend, refinance, renew, replace or refund any Scheduled Existing Indebtedness, Permitted
Acquired Debt or any Indebtedness issued to so extend, refinance, renew, replace, substitute or
refund any such Indebtedness, so long as (a) such Indebtedness has a weighted average life to
maturity greater than or equal to the weighted average life to maturity of the Indebtedness being
extended, refinanced, renewed, replaced or refunded, (b) such extension, refinancing, renewal,
replacement or refunding does not (i) increase the amount of such Indebtedness outstanding
immediately prior to such extension, refinancing, renewal, replacement or refunding (except to the
extent of reasonable fees, premiums, commissions and expenses actually paid in connection with
such extension, refinancing, renewal, replacement or refunding) or (ii) add guarantors, obligors
or security from that which applied to such Indebtedness being extended, refinanced, renewed,
replacement or refunding, (c) such Indebtedness has the same (or, from the perspective of the
Lenders, more favorable) subordination provisions, if any, as applied to the Indebtedness being
extended, renewed, refinanced, replaced or refunded, and (d) all other terms of such extension,
refinancing, renewal, replacement or refunding (including, without limitation, with respect to the
amortization schedules, redemption provisions, maturities, covenants, defaults and remedies, but
excluding interest rates so long as on market terms at the time of issuance thereof) are not
less favorable in any material respect to the respective borrower than those previously
existing with respect to the Indebtedness being extended, refinanced, renewed, replaced or
refunded, provided, however, that any Intercompany Scheduled Existing Indebtedness (and
subsequent extensions, refinancings, renewals, replacements and refundings thereof as provided
above in this definition) may only be extended, refinanced, renewed, replaced or refunded as
provided above in this definition if the Indebtedness so extended, refinanced, renewed, replaced
or refunded has the same obligors(s) and obligee(s) as the Indebtedness being extended,
refinanced, renewed, replaced or refunded.

          “Permitted Refinancing Senior Notes” shall mean any Indebtedness of the U.S. Borrower
evidenced by senior notes issued or given in exchange for, or the proceeds of which are used to,
refinance, renew, replace or refund any Existing Senior Notes, any Permitted Senior Notes or any
Indebtedness issued to so refinance, renew, replace or refund any such Indebtedness, so long as (a)
such Indebtedness has a final maturity no earlier than the date occurring 180 days following the
then latest Maturity Date and no required amortizations prior to such date, (b) such Indebtedness
does not (i) increase the amount of such Indebtedness outstanding immediately prior to such
refinancing or renewal (except to the extent of reasonable fees, premiums, commissions and expenses
actually paid in connection with such refinancing, renewal, replacement or refunding) or (ii) add
guarantors, obligors or security from that which applies to the Indebtedness being refinanced,
renewed, replaced or refunded, (c) the guaranties of such senior notes shall be subject to the same
(or, from the perspective of the Lenders, more

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favorable) subordination provisions as applied to the guaranties of the Existing 2011 Senior
Notes, (d) if the U.S. Borrower elects to provide for the subordination of the obligations of the
U.S. Borrower under such senior notes to the prior payment in full of “senior debt” (or, the
Indebtedness being refinanced, renewed, replaced or refunded includes subordination provisions
applicable to the U.S. Borrower), such senior notes shall be subject to the same subordination
provisions as are applicable to the guaranties of such senior notes (subject only to appropriate
conforming changes), (e) all other terms of such Indebtedness (including, without limitation, with
respect to the amortization, redemption provisions, maturities, covenants, defaults and remedies),
are not, taken as a whole, less favorable in any material respect to the U.S. Borrower and
its Subsidiaries than those previously existing with respect to the Indebtedness being refinanced,
renewed, replaced or refunded, and (f) the documentation governing such Indebtedness is in form
and substance reasonably satisfactory to the Administrative Agent, as such Indebtedness is in
effect on the date of incurrence thereof and as the same may be amended, modified and/or
supplemented from time to time in accordance with the terms hereof and thereof.

          “Permitted Refinancing Senior Notes Documents” shall mean any indenture entered into
in connection with any issuance of Permitted Refinancing Senior Notes and each other agreement,
document or instrument relating to any issuance of Permitted Refinancing Senior Notes, as the same
may be amended, modified and/or supplemented from time to time in accordance with the terms hereof
and thereof.

          “Permitted Senior Notes” shall mean any Indebtedness of the U.S. Borrower evidenced by
senior notes 100% of the Net Cash Proceeds of which are promptly applied to finance a Permitted
Acquisition effected in accordance with the requirements of Section 8.15 and the fees and expenses
incurred in connection therewith, so long as (a) such Indebtedness has a final maturity no earlier
than the date occurring 180 days following the then latest Maturity Date and no required
amortizations prior to such date, (b) such Indebtedness does not add guarantors, obligors or
security from that which applies to the Existing 2011 Senior Notes, (c) the guaranties of such
senior notes shall be subject to the same (or, from the perspective of the Lenders, more favorable)
subordination provisions as applied to the guaranties of the Existing 2011 Senior Notes, (d) if the
U.S. Borrower elects to provide for the subordination of the obligations of the U.S. Borrower under
such senior notes to the prior payment in full of “senior debt,” such senior notes shall be subject
to the same subordination provisions as are applicable to the guaranties of such senior notes
(subject only to appropriate conforming changes), (e) all other terms of such Indebtedness
(including, without limitation, with respect to amortization, redemption provisions, maturities,
covenants, defaults and remedies, but excluding interest rates so long as on market terms at the
time of the issuance thereof), are not, taken as a whole, less favorable in any material
respect to the U.S. Borrower and its Subsidiaries than those previously existing with respect to
the Existing 2011 Senior Notes, (f) on the date of issuance of any such Indebtedness, the U.S.
Borrower and its Subsidiaries shall have complied with the requirements of Section 8.15 with
respect to the Permitted Acquisition to be financed with the proceeds of such Indebtedness
(including the delivery of the officers’ certificate required by Section 8.15(a)(x) and the
calculations required by Section 8.15(a)(iii) (after giving pro forma effect to the
issuance of such Indebtedness) and (g) the documentation governing such Indebtedness is in form and
substance reasonably satisfactory to the Administrative Agent, as such Indebtedness may be amended,

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modified and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “Permitted Senior Notes Documents” shall mean any Permitted Senior Note, any
Permitted Senior Notes Indenture and all other documents executed and delivered with respect to an
issuance of Permitted Senior Notes or a Permitted Senior Notes Indenture, as the same may be
amended, modified and/or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Permitted Senior Notes Indenture” shall mean any indenture entered into in
connection with any issuance of Permitted Senior Notes, as the same may be amended, modified
and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “Person” shall mean any individual, partnership, joint venture, firm, corporation, limited
liability company, association, trust or other enterprise or any government or political
subdivision or any agency, department or instrumentality thereof.

          “Plan”
shall mean any pension plan as defined in Section 3(2) of EPISA (other than a
Multiemployer Plan), which is maintained or contributed to by (or to which there is an obligation
to contribute of) Holdings or a Subsidiary of Holdings or an ERISA Affiliate, and each such plan
for the five year period immediately following the latest date on which Holdings, or a Subsidiary
of Holdings or an ERISA Affiliate maintained, contributed to or had an obligation to contribute to
such plan.

          “Pledge Agreement Collateral” shall mean all U.S. Pledge Agreement Collateral and all
other Equity Interests or other property similar to that pledged pursuant to the U.S. Pledge
Agreement which is pledged pursuant to one or more Foreign Pledge Agreements, Foreign Security
Agreements or Additional Security Documents.

          “Pledge Agreements” shall mean the U.S. Pledge Agreement and each Foreign Pledge
Agreement.

          “Preferred
Equity,” as applied to the Equity Interests of any Person, means Equity Interests
of such Person (other than common stock of such Person) of any class or classes (however designed)
that ranks prior, as to the payment of dividends or as to the distribution of assets upon any
voluntary or involuntary liquidation, dissolution or winding up of such Person, to Equity Interests
of any other class of such Person.

          “Prime Lending Rate” shall mean the rate which DBAG (or another bank of recognized
standing reasonably selected by the Administrative Agent) announces from time to time as its prime
lending rate, the Prime Lending Rate to change when and as such prime lending rate changes. The
Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate
actually charged to any customer. DBAG may make commercial loans or other loans at rates of
interest at, above or below the Prime Lending Rate.

          “Principal Property” shall mean “Principal Property”, as defined in the Existing 2011
Senior Notes Indenture (as in effect (and as each component definition used therein is in effect)
on the Original Effective Date, without giving effect to any termination thereof).

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          “Pro Forma Basis” shall mean, in connection with any calculation of the Total
Leverage Ratio or Senior Secured Leverage Ratio, the calculation of Consolidated EBITDA as used
therein after giving effect on a pro forma basis to any Permitted Acquisition or
Significant Asset Sale then being consummated as well as any other Permitted Acquisition or
Significant Asset Sale consummated after the first day of the relevant Test Period or Calculation
Period, as the case may be, and on or prior to the date of the required determination of the Total
Leverage Ratio and/or Senior Secured Leverage Ratio, as the case may be, as if same had occurred
on the first day of the respective Test Period or Calculation Period, as the case may be, taking
into account, in the case of any Permitted Acquisition, factually supportable and identifiable
cost savings and expenses which would otherwise be accounted for as an adjustment pursuant to
Article 11 of Regulation S-X under the Securities Act, as if such cost savings or expenses were
realized on the first day of the respective period.

          “Pro Forma Financial Statements” shall have the meaning provided in Section 5.15(a).

          “Projections” shall have the meaning provided in Section 5.15(b).

          “Property” of a Person means any and all property, whether real, personal, tangible,
intangible or mixed, of such Person, or other assets owned, leased, or operated by such Person.

          “Qualified Jurisdictions” shall mean and include the United States, Bermuda and each
other jurisdiction identified on Schedule XVII hereto, in each case including any states, provinces
or other similar local units therein. Furthermore, from time to time after the Restatement
Effective Date, Holdings may request (by written notice to, and following consultation with, the
Administrative Agent) that one or more additional jurisdictions be added to the list of Qualified
Jurisdictions. In such event, such jurisdictions shall be added to (and thereafter form part of)
the list of Qualified Jurisdictions so long as, in each case, the respective jurisdiction to be
added is a jurisdiction in which the U.S. Borrower and/or any of its Subsidiaries conducts business
on the Restatement Effective Date or is otherwise reasonably satisfactory to the Administrative
Agent and so long as Holdings has furnished opinions of counsel, in each case from counsel, and in
form and substance, reasonably satisfactory to the Administrative Agent, concluding that
Subsidiaries of the U.S. Borrower organized under the laws of such jurisdiction may execute and
deliver a Foreign Subsidiaries Guaranty (unlimited in amount and otherwise containing provisions
reasonably consistent with the provisions of the Foreign Subsidiaries Guaranty executed and
delivered on the Initial Borrowing Date and applicable to a Qualified Non-U.S. Obligor on such
date), the Intercompany Subordination Agreement and such Security Documents as may be satisfactory
to the Collateral Agent (generally consistent with the Security Documents executed and delivered by
Qualified Non-U.S. Obligors (determined without regard to the proviso to the definition thereof
contained herein) on the Restatement Effective Date) and that, in accordance with the laws of the
respective jurisdiction, such Credit Documents shall constitute the legal, valid and binding
obligations, enforceable in accordance with their terms, and (in the case of the Security
Documents) create valid and perfected security interests under applicable law (in each case subject
to such customary exceptions (not inconsistent with the requirements set forth above) as are
satisfactory to the Administrative Agent). The parties hereto further agree that, in the

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discretion of the Administrative Agent, as a condition to the addition of any jurisdiction to the
list of Qualified Jurisdictions, the Administrative Agent may (but shall not be required to)
request the consent of the Required Lenders to such addition and, in such event, the
Administrative Agent shall be entitled to wait for such consent before adding the respective
jurisdiction to the list of Qualified Jurisdictions.

          “Qualified Non-U.S. Jurisdictions” shall mean and include each Qualified Jurisdiction
other than the United States (and the States thereof).

          “Qualified Non-U.S. Obligors” shall mean each Foreign Credit Party which (x) is a
Wholly-Owned Subsidiary of Holdings organized under the laws of a Qualified Non-U.S. Jurisdiction,
(y) has provided a full and unconditional guaranty (unlimited in amount) of all Guaranteed
Obligations (as defined in the Foreign Subsidiaries Guaranty) pursuant to a Foreign Subsidiaries
Guaranty and (z) has executed the relevant Security Documents in accordance with the requirements
of Sections 5, 8.11 and/or 9.14 of the Original Credit Agreement or Sections 5, 8.11 and/or 9.11
hereof securing all such Guaranteed Obligations, provided that (i) any Fee Capped Foreign
Subsidiary Guarantor shall be deemed to be a Qualified Non-U.S. Obligor for purposes of Sections
9.02(viii), (ix) and (xi) and Sections 9.05(vi) and (viii) only (and only said Sections), so long
as such Fee Capped Foreign Subsidiary Guarantor shall at all times be in compliance with the
requirements of Section 8.11(i), (ii) any Fee Capped Foreign Subsidiary Guarantor shall be deemed
to be a Qualified Non-U.S. Obligor for purposes of Section 8.18(c), so long as (I) governmental
approvals are required to be obtained to transfer the Equity Interests of such Fee Capped Foreign
Subsidiary Guarantor to a Qualified Non-U.S. Obligor (determined without regard clauses (i), (ii),
(iii) and (iv) of this proviso) and the U.S. Borrower or such Subsidiary Guarantor is using
reasonable efforts to obtain such approvals or (II) the transfer of the Equity Interests of such
Fee Capped Foreign Subsidiary Guarantor to a Qualified Non-U.S. Obligor (determined without regard
clauses (i), (ii), (iii) and (iv) of this proviso) would give rise to material and adverse tax
consequences to the U.S. Borrower or such Subsidiary, (iii) Dole Korea, Ltd. shall be deemed to be
a Qualified Non-U.S. Obligor for purposes of Sections 8.18(c) and 9.01(c) (and only said Sections),
(iv) notwithstanding the provision of a limited guaranty by the Excluded Bermuda Insurance
Companies, each of the Excluded Bermuda Insurance Companies shall be deemed to be a “Qualified
Non-U.S. Obligor” for all purposes of this Agreement (other than Sections 8.18(c) and 9.01(c) for
which it is understood such Persons shall not constitute “Qualified Non-U.S. Obligors”) and (v) any
Qualified Non-U.S. Obligor (including any deemed as such pursuant to preceding clauses (i), (ii),
(iii) and (iv)) shall cease to constitute same at such time, if any, as such Person ceases to be a
Wholly-Owned Subsidiary of Holdings.

          “Qualified Obligors” shall mean each Qualified U.S. Obligor and each Qualified
Non-U.S. Obligor.

          “Qualified Preferred Stock” shall mean any Preferred Equity of Holdings, the express
terms of which shall provide that dividends thereon shall not be required to be paid at any time
(and to the extent) that such payment would be prohibited by the terms of this Agreement or any
other agreement of Holdings or any of its Subsidiaries relating to outstanding indebtedness and
which, by its terms (or by the terms of any security into which it is convertible or for which it
is exchangeable), or upon the happening of any event (including any change of

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control event), cannot mature (excluding any maturity as the result of an optional redemption by
the issuer thereof) and is not mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, and is not redeemable, or required to be repurchased, at the sole option of the holder
thereof (including, without limitation, upon the occurrence of an change of control event), in
whole or in part, on or prior to 3 months following the maturity date of the Existing 2013 Senior
Notes.

          “Qualified Trust” shall mean the David H. Murdock Living Trust, dated May 28, 1986, as
amended, or another trust established by Mr. Murdock to hold and control the capital stock of
Holdings and the remainder of his estate in the event of his death, so long as any such trust
described above (i) is at all times controlled by David H. Murdock or by a majority of experienced
business persons and is not controlled by members of Mr. Murdock’s family and (ii) holds all or
substantially all of the assets of Mr. Murdock.

          “Qualified U.S. Obligors” shall mean and include Holdings and each other U.S. Credit
Party which is a Wholly-Owned Subsidiary of Holdings, provided that any Qualified U.S.
Obligor that is (or was) a Subsidiary of Holdings shall cease to constitute a Qualified U.S.
Obligor at such time, if any, as such Subsidiary ceases to be a Wholly-Owned Subsidiary of
Holdings.

          “Quarterly Payment Date” shall mean the last Business Day of each March, June,
September and December.

          “Rabobank” shall mean the Rabobank International in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “Real Property” of any Person shall mean all of the right, title and interest of such Person
in and to land, improvements and fixtures, including Leaseholds.

          “Recovery Event” shall mean the receipt by Holdings or any of its Subsidiaries of any
insurance or condemnation proceeds payable (i) by reason of theft, physical destruction or damage
or any other similar event with respect to any properties or assets of Holdings or any of its
Subsidiaries, (ii) by reason of any condemnation, taking, seizing or similar event with respect to
any properties or assets of Holdings or any of its Subsidiaries and (iii) under any policy of
insurance required to be maintained under Section 8.03.

          “Refinancing” shall mean the Intermediate Holdco Refinancing and the other refinancing
transactions contemplated by Section 5.08.

          “Refinancing Documents” shall mean shall mean the documents, instruments and
agreements entered into connection with the Refinancing.

          “Register” shall have the meaning provided in Section 13.17.

          “Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor to all or a portion thereof establishing
reserve requirements.

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          “Regulation T” shall mean Regulation T of the Board of Governors of the Federal Reserve
System as from to time in effect and any successor to all or any portion thereof.

          “Regulation U” shall mean Regulation U of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor to all or a portion thereof.

          “Regulation X” shall mean Regulation X of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor to all or any portion thereof.

          “Release” means disposing, discharging, injecting, spilling, pumping, leaking, leaching,
dumping, emitting, escaping, emptying, seeping, placing, pouring and the like, into or upon any
land or water or air, or otherwise entering into the environment.

          “Relevant
Guaranteed Obligations” shall mean (i) in the case of each Holdings and
Intermediate Holdco, (x) the principal and interest on each Note issued to each Lender, and all
Loans made, under this Agreement, all reimbursement obligations and Unpaid Drawings with respect to
Letters of Credit and all reimbursement obligations and Unreimbursed Payments with respect to Bank
Guaranties, together with all the other obligations (including obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities
(including, without limitation, indemnities, fees and interest thereon) of the Borrowers (or either
of them) to each Lender, each Agent, each Issuing Lender, each Bank Guaranty Issuer and the
Collateral Agent now existing or hereafter incurred under, arising out of or in connection with
this Agreement and each other Credit Document and the due performance and compliance by each
Borrower with all the terms, conditions and agreements contained in this Agreement and each other
Credit Document to which it is a party and (y) all obligations (including obligations which, but
for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and
liabilities of the U.S. Borrower or any of its Subsidiaries owing under any Interest Rate
Protection Agreement or Other Hedging Agreement entered into by the U.S. Borrower or any of its
Subsidiaries with any Secured Hedge Counterparty so long as such Secured Hedge Counterparty
participates in such Interest Rate Protection Agreement or Other Hedging Agreement, and their
subsequent assigns, if any, whether now in existence or hereafter arising, and the due performance
and compliance with all terms, conditions and agreements contained therein, (ii) in the case of the
U.S. Borrower, (x) the principal and interest on each Tranche C Term Note and each Incremental Term
Note (in each case) issued by the Bermuda Borrower to each Lender, and each Tranche C Term Loan and
each Bermuda Borrower Incremental Term Loan made, under this Agreement, all reimbursement
obligations and Unpaid Drawings with respect to each Letter of Credit issued for the account of the
Bermuda Borrower and all reimbursement obligations and Unreimbursed Payments with respect to each
Bermuda Borrower Bank Guaranty, together with all the other obligations (including obligations
which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due)
and liabilities (including, without limitation, indemnities, fees and interest thereon) of the
Bermuda Borrower to each Lender, each Agent, each Issuing Lender, each Bank Guaranty Issuer and the
Collateral Agent now existing or hereafter incurred under, arising out of or in connection with
this Agreement or any other Credit Document and the due performance and compliance by the Bermuda
Borrower with all the terms, conditions and agreements contained in the Credit

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Documents to which it is a party and (y) all obligations (including obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities of
the Bermuda Borrower or any other Subsidiary of the Bermuda Borrower owing under any Interest Rate
Protection Agreement and any Other Hedging Agreement entered into by the Bermuda Borrower or any
other Subsidiary of the U.S. Borrower with any Secured Hedge Counterparty so long as such Secured
Hedge Counterparty participates in such Interest Rate Protection Agreement or Other Hedging
Agreement, and their subsequent assigns, if any, whether now in existence or hereafter arising, and
the due performance and compliance with all terms, conditions and agreements contained therein and
(iii) in the case of the Bermuda Borrower, all obligations (including obligations which, but for
the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities
of any Foreign Subsidiary of the U.S. Borrower (other than the Bermuda Borrower) owing under any
Interest Rate Protection Agreement and any Other Hedging Agreement entered into by any such Foreign
Subsidiary of the U.S. Borrower with any Secured Hedge Counterparty so long as such Secured Hedge
Counterparty participates in such Interest Rate Protection Agreement or Other Hedging Agreement,
and their subsequent assigns, if any, whether now in existence or hereafter arising, and the due
performance and compliance with all terms, conditions and agreements contained therein.

          “Relevant Guaranteed Party” shall mean (i) with respect to Holdings, each Borrower
and each Subsidiary of Holdings party to any Interest Rate Protection Agreement or Other Hedging
Agreement with any Secured Creditor, (ii) with respect to Intermediate Holdco, each Borrower and
each Subsidiary of Intermediate Holdco party to any Interest Rate Protection Agreement or Other
Hedging Agreement with any Secured Creditor, (iii) with respect to the U.S. Borrower, the Bermuda
Borrower and each Subsidiary of Holdings (other than the U.S. Borrower) party to any Interest Rate
Protection Agreement or Other Hedging Agreement with any Secured Creditor and (iv) with respect to
the Bermuda Borrower, each Foreign Subsidiary of Holdings (other than the Bermuda Borrower) party
to any Interest Rate Protection Agreement or Other Hedging Agreement with any Secured Creditor.

          “Relevant Separate Tax Liability” shall have the meaning provided in Section 9.06(v).

          “Replaced Lender” shall have the meaning provided in Section 1.13.

          “Replacement Foreign Security Agreements” shall have the meaning provided in Section
5.12(b).

          “Replacement Lender” shall have the meaning provided in Section 1.13.

          “Reportable Event” shall mean an event described in Section 4043(c) of ERISA with
respect to a Plan that is subject to Title IV of ERISA other than those events as to which the
30-day notice period is waived under subsection .22, .23, .25, .27, or .28 of PBGC Regulation
Section 4043.

          “Repricing Transaction” shall mean, as to any Tranche, (1) the incurrence by the
U.S. Borrower or any of its Subsidiaries of any indebtedness (including, without limitation, any

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new or additional loans, letters of credit, bank guaranties and/or credit-linked deposits under
this Agreement, whether incurred directly or by way of the conversion of outstanding Term Loans
and/or Credit-Linked Deposits (and related Letters of Credit and/or Bank Guaranties), as the case
may be, of any such Tranche into a new tranche of replacement term loans, letters of credit, bank
guaranties and/or credit-linked deposits under this Agreement) that is broadly marketed or
syndicated to banks and other institutional investors in financings similar to the facilities
provided for in this Agreement (i) having an “effective” interest rate margin or weighted average
yield for the respective type of such indebtedness or extension of credit that is less than the
applicable rate for or weighted average yield for (x) Term Loans of the respective Tranche and Type
and/or (y) Credit-Linked Deposits (and related Letters of Credit and/or Bank Guaranties) of the CL
Tranche, as the case may be (with the comparative determinations to be made by the Administrative
Agent consistent with generally accepted financial practices, after giving effect to, among other
factors, margin, upfront or similar fees or “original issue discount” shared with all lenders or
holders of such indebtedness or other extensions of credit, as the case may be, but excluding the
effect of any arrangement, structuring, syndication or other fees payable in connection therewith
that are not shared with all lenders or holders of such indebtedness or other extensions of credit,
as the case may be, and without taking into account any fluctuations in the relevant Eurodollar
Rate) and (ii) the proceeds of which are used to prepay or replace (or, in the case of a
conversion, deemed to prepay or replace), in whole or in part, principal (or its equivalent) of
outstanding Term Loans of such Tranche and/or Credit-Linked Deposits (and related Letters of Credit
and/or Bank Guaranties) and (2) any reduction in the Applicable Margins for Term Loans and/or the
CL Facility Fee for Credit-Linked Deposits, as the case may be, of such Tranche by way of the
amendment, waiver or other modification of this Agreement. Any such determination by the
Administrative Agent as contemplated by preceding clause (1) shall be conclusive and binding on all
Lenders holding Term Loans and/or Credit-Linked Deposits (and related Letters of Credit and/or Bank
Guaranties).

          “Required
Appraisal” shall have the meaning provided in Section 8.11(j).

          “Required Lenders” shall mean Non-Defaulting Lenders, the sum of whose outstanding
principal of Term Loans (or, if prior to the occurrence of the Credit Events on the Restatement
Effective Date, the sum of whose “Converted Tranche C Term Loans” amounts as shown on Schedule I
and Tranche B Term Loan Commitments and Tranche C Term Loan Commitments) and Credit-Linked
Commitments (or after the termination thereof, outstanding Individual CL Exposures) as of any date
of determination represent greater than 50% of the sum of all outstanding principal of Term Loans
(or if prior to the occurrence of the Credit Events on the Restatement Effective Date, the sum of
all “Converted Tranche C Term Loans” amounts as shown on Schedule I and Tranche B Term Loan
Commitments and Tranche C Term Loans Commitments) of Non-Defaulting Lenders at such time and the
sum of all Credit-Linked Commitments of all Non-Defaulting Lenders at such time (or, after the
termination thereof, the sum of the then total Individual CL Exposures of all Non-Defaulting
Lenders at such time); provided that, for purposes of this definition, at any time after
the Restatement Effective Date, (I) a Voting Participant shall be deemed to be a “Lender” holding
the portion of the Credit-Linked Commitment (or, after the termination thereof, outstanding
Individual CL Exposure), the Incremental Term Loan Commitment and the outstanding Term Loans of
any Lender (other than a Defaulting Lender) in which it purchased a participation from such Lender
(and to have the voting rights of such Lender with respect to each such Tranche) and (II) a Lender
(other than a

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Defaulting Lender) which has sold a participation in a portion of its Credit-Linked Commitment (and
related Obligations), Incremental Term Loan Commitment or outstanding Term Loans to a Voting
Participant shall be deemed to hold a Credit-Linked Commitment (or, after the termination thereof,
outstanding Individual CL Exposure), Incremental Term Loan Commitment or outstanding Term Loans, as
the case may be, in each case, as reduced by the amount of the participations therein sold to a
Voting Participant.

          “Restatement Effective Date” shall have the meaning provided in Section
13.10.

          “Restricted Subsidiary” of any Person shall mean any Subsidiary (as defined in the
Existing 2011 Senior Notes Indenture as in effect on the Restatement Effective Date (without
giving effect to any termination thereof)) of such Person other than any Subsidiary (as so
defined) of such Person that is engaged primarily in the management, development and sale or
financing of real property.

          “Retained Excess Cash Flow Amount” shall initially be $0, which amount shall be (A)
increased on each Excess Cash Payment Date so long as any repayment required pursuant to
Section 4.02(f) has been made, by an amount equal to the Adjusted Excess Cash Flow for the
immediately preceding Excess Cash Flow Payment Period
multiplied by a percentage equal to
100% minus the Applicable Prepayment Percentage, and (B) reduced (i) on each
Excess Cash Payment Date where Adjusted Excess Cash Flow for the immediately preceding Excess Cash
Flow Payment Period is a negative number, by such amount, and (ii) at the time any cash is used to
redeem, repurchase and/or otherwise make payments in respect of Existing Senior Notes, Permitted
Senior Notes and/or Permitted Refinancing Senior Notes in reliance on Section 9.06(xiii), by the
amount of the cash so used (it being understood that the Retained Excess Cash Flow Amount may be
reduced to an amount below zero after giving effect to the reductions enumerated in clause (B)
above).

          “Returns” shall have the meaning provided in Section 7.20.

          “S&P” shall mean Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc.

          “Sale-Leaseback Transaction” shall have the meaning provided in the Original Credit
Agreement.

          “Sale-Leaseback Transaction Documents” shall mean all documents and agreements
delivered in connection with the Sale-Leaseback Transaction, in each case as the same may be
amended, modified and/or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Scheduled Existing Indebtedness” shall mean Third Party Scheduled Existing
Indebtedness and Intercompany Scheduled Existing Indebtedness.

          “Scheduled Investment Termination Date” shall mean, when referring to the
Credit-Linked Deposits on deposit in the Credit-Linked Deposit Account, the date agreed to by the
Borrowers and the Administrative Agent from time to time, provided that if no such

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agreement shall be reached, the Scheduled Investment Termination Date shall be the last day of the
then current Interest Period applicable to the Credit-Linked Deposits.

          “Scheduled Repayment” shall mean any Tranche B Term Loan Scheduled Repayment, any
Tranche C Term Loan Scheduled Repayment and/or any Incremental Term Loan Scheduled Repayment of
any Tranche, as the context may require.

          “Scotia Capital” shall mean The Bank of Nova Scotia, in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “SEC” shall mean the Securities and Exchange Commission or any successor thereto.

          “Second Priority” means, with respect to any Lien purported to be created on any Collateral
pursuant to the U.S. Security Documents, that such Lien is prior in right to any other Lien
thereon, other than (x) Liens permitted pursuant to clause (y) of Section 9.03(iii) and (y)
Permitted Liens permitted to be prior to the Liens on the Collateral in accordance with the
definition “First Priority” contained herein; provided that in no event shall any such
Permitted Lien be permitted (on a consensual basis) to be junior and subordinate to any Permitted
Liens as described in clause (x) above and senior in priority to the relevant Liens created
pursuant to the U.S. Security Documents.

          “Second-Tier Material Real Property” of any Person, shall mean any fee-owned (or
equivalent) Real Property acquired by such Person after the Initial Borrowing Date with a value
(determined using the initial purchase price paid by such Person for such Real Property) of greater
than $2,500,000 but less than or equal to $10,000,000.

          “Section 4.04(b)(ii) Certificate” shall have the meaning provided in Section
4.04(b)(ii).

          “Secured Creditors” shall have the meaning provided in the respective Security
Documents.

          “Secured Hedge Counterparties” shall mean, with respect to any Interest Rate
Protection Agreement or Other Hedging Agreement, (x) any Lender or any affiliate thereof (even if
such Lender subsequently ceases to be a Lender under this Agreement for any reason), (y) any ABL
Lender or any affiliate thereof (even if such ABL Lender ceases to be a Lender under the ABL
Credit Agreement for any reason) or (z) to the extent any such Interest Rate Protection Agreement
or Other Hedging Agreement was entered into prior to the Restatement Effective Date, any Original
Lender or any affiliate thereof (even if such Original Lender ceased to be an Original Lender
under the Original Credit Agreement for any reason).

          “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

          “Security Agreement Collateral” shall mean all collateral in which any security
interest is granted pursuant to the Security Agreements.

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          “Security Agreements” shall mean the U.S. Security Agreement and each Foreign
Security Agreement.

          “Security Documents” shall mean and include each of the U.S. Security Agreement, the
U.S. Pledge Agreement, each Mortgage, each Foreign Security Agreement, each Foreign Pledge
Agreement and, after the execution and delivery thereof, each Additional Security Document
(including each Additional Mortgage).

          “Senior Secured Leverage Ratio” shall mean, on any date of determination, the ratio
of (i) Consolidated Senior Secured Net Debt on such date to (ii) Consolidated EBITDA for the Test
Period most recently ended on or prior to such date; provided that for all purposes of
this Agreement, Consolidated EBITDA for purposes of the Senior Secured Leverage Ratio shall be
determined on a Pro Forma Basis.

          “Senior Officer” shall mean (i) senior executive management of Holdings and the U.S.
Borrower, (ii) the general counsel of Holdings and the U.S. Borrower and (iii) the division
presidents of Holdings and its Subsidiaries.

          “Shareholder Subordinated Note” shall mean an unsecured junior subordinated note
issued by Holdings (and not guaranteed or supported in any way by either Borrower or any of their
respective Subsidiaries) in the form of Exhibit L, as the same may be amended, modified and/or
supplemented from time to time in accordance with the terms hereof and thereof.

          “Shareholders’ Agreements” shall have the meaning provided in Section
5.13(i).

          “Sharing Event” shall mean (i) the occurrence of any Event of Default with respect to any
Credit Agreement Party pursuant to Section 10.05, (ii) the declaration of the termination of any
Credit-Linked Commitment or Incremental Term Loan Commitment, or the acceleration of the maturity
of any Loans, in each case pursuant to the last paragraph of Section 10 or (iii) the failure of
either Borrower to pay any principal of, or interest on, Loans of any Tranche, any Letter of
Credit Outstandings or any Bank Guaranty Outstandings on the relevant Maturity Date.

          “Shell Corporation” shall mean any Person created or established by the U.S. Borrower
or any of its Wholly-Owned Subsidiaries, so long as (i) the aggregate amount of assets at any time
held by any such Person does not exceed $10,000 and (ii) the aggregate amount of assets at any time
held by all Shell Corporations at any time in existence does not exceed $100,000, it being
understood that at such time as the assets of any Person which was a “Shell Corporation” exceed
$10,000 or the assets of all Persons which were “Shell Corporations” exceeds $100,000, all such
Persons shall cease to be Shell Corporations for purposes of this definition.

          “Significant Asset Sale” shall mean each Asset Sale which generates Net Sale Proceeds
of at least $10,000,000.

          “Special Colombian Put Note Agreement” shall mean that certain Put Agreement, dated
as of April 30, 2003, by and among the Bermuda Borrower, the Administrative Agent, the Collateral
Agent and the Colombian Subsidiary Guarantors, pursuant to which the Collateral

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Agent and the Administrative Agent have the right to demand that the Colombian Subsidiary
Guarantors purchase (on a joint and several basis) any and all Special Colombian Put Notes at par
(plus accrued interest) and in U.S. Dollars, as amended, modified and/or supplemented from time to
time.

          “Special Colombian Put Notes” shall have mean those certain promissory notes, dated
as of April 30, 2003, issued by the Bermuda Borrower in the form of Exhibit M hereto, as amended,
modified and/or supplemented from time to time.

          “Specified Default” shall mean any Default under either of Sections 10.01 or 10.05.

          “Specified Existing Ship Leases” shall mean the leases with respect to the vessels
named “Dole Chile” and “Dole Colombia,” as in effect on the Initial Borrowing Date.

          “Standby Letter of Credit” shall have the meaning provided in Section
2A.01(a).

          “Stated Amount” of each Letter of Credit shall, at any time, mean the maximum amount
available to be drawn thereunder (in each case determined without regard to whether any conditions
to drawing could then be met, but after giving effect to all previous drawings made thereunder),
provided that, (x) except as such term is used in Section 2A.02, the “Stated
Amount” of each Non-Dollar Denominated Letter of Credit shall be, on any date of
calculation, the Dollar Equivalent of the maximum amount available to be drawn in such Alternative
Currency thereunder (determined without regard to whether any conditions to drawing could then be
met but after giving effect to all previous drawings made thereunder) and (y) except for purposes
of Sections 2A.02 and 3.01(b), the definition of Non-Dollar Denominated L/C Cushion Amount and in
determining the respective proportional indemnification liabilities of the Secured Creditors to
the Collateral Agent and/or the Pledgee under the applicable Security Documents, the Stated Amount
of any Non-Dollar Denominated Letter of Credit (as otherwise determined above) shall be increased
(at each time the Stated Amount thereof is determined) by Non-Dollar Denominated L/C Cushion
Amount for such Non-Dollar Denominated Letter of Credit.

          “Sterling” and “£” shall mean freely transferable lawful money of the United Kingdom
(expressed in pounds sterling).

          “Sterling Denominated Letter of Credit” shall mean each Letter of Credit denominated
in Sterling.

          “Subsidiaries Guaranty” shall mean and include the U.S. Subsidiaries Guaranty, the
Foreign Subsidiaries Guaranty and any other guaranty executed and delivered by any Subsidiary of
the U.S. Borrower pursuant to any of Sections 8.11, 8.12 and/or 9.11.

          “Subsidiary” of any Person shall mean and include (i) any corporation more than 50% of whose
stock of any class or classes having by the terms thereof ordinary voting power to elect a
majority of the directors of such corporation (irrespective of whether or not at the time stock of
any class or classes of such corporation shall have or might have voting power by reason of the
happening of any contingency) is at the time owned by such Person directly or indirectly through
one or more Subsidiaries of such Person and (ii) any partnership, association, limited

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liability company, joint venture or other entity (other than a corporation) in which such Person
directly or indirectly through one or more Subsidiaries of such Person, has more than a 50% Equity
Interest at the time. Notwithstanding the foregoing (and except for purposes of Sections 7.01,
7.03, 7.04, 7.12, 7.16, 7.17, 7.20, 8.01(e), 8.01(g), 8.04, 8.05, 8.06, 8.07, 8.08, 8.16,
10.03(b), 10.04, 10.05, 10.06, 10.09 and 13.01), an Unrestricted Wellbeing Joint Venture shall be
deemed not to be a Subsidiary of Holdings or any of its other Subsidiaries for purposes of this
Agreement.

          “Subsidiary Guarantor” shall mean each Subsidiary of Intermediate Holdco that
executes and delivers any Subsidiaries Guaranty, unless and until such time as the respective
Subsidiary is released from all of its obligations under any relevant Subsidiaries Guaranty in
accordance with the terms and provisions thereof.

          “Supermajority Lenders” of any Tranche shall mean those Non-Defaulting Lenders which
would constitute the Required Lenders under, and as defined in, this Agreement if (x) all
outstanding Obligations of the other Tranches under this Agreement were repaid in full and all
Commitments with respect thereto were terminated and (y) the percentage “50%” contained therein
were changed to “66-2/3%.”

          “Syndication Agent” shall have the meaning provided in the first paragraph of this
Agreement and shall include any successor to the Syndication Agent appointed pursuant to Section
12.10.

          “Syndication Date” shall mean the earlier of (i) the 30th day following the
Restatement Effective Date and (ii) the date upon which the Agents determine (and notify Holdings
and the Lenders) that the primary syndication of the Tranche B Term Loans, the Tranche C Term
Loans and the CL Tranche (and resultant addition of Persons as Lenders pursuant to Section
13.04(b)) has been completed.

          “Synthetic Lease” shall mean, as applied to any Person, any lease (including leases that may
be terminated by the lessee at any time) of any property (whether real, personal or mixed), (i)
that is not a capital lease in accordance with U.S. GAAP and (ii) in respect of which the lessee
retains or obtains ownership of the property so leased for federal income tax purposes, other than
any such lease under which that Person is the lessor; provided that, for purposes of this
Agreement, the term “Synthetic Lease” shall not include the lease arising pursuant to the
Sale-Leaseback Transaction.

          “Tax Allocation Agreements” shall have the meaning provided in Section 5.13(iv).

          “Taxes” shall have the meaning provided in Section 4.04(a).

          “Term Loan Conversion” shall have the meaning provided in Section 1.01(b).

          “Term Loans” shall mean and include Tranche B Term Loans, Tranche C Term Loans and each
Incremental Term Loan.

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          “Test Period” shall mean each period of four consecutive Fiscal Quarters then last ended, in
each case taken as one accounting period.

          “Third Party Scheduled Existing Indebtedness” shall have the meaning provided in
Section 7.21.

          “TL Priority Collateral” means all “TL Priority Collateral” as defined in the
Intercreditor Agreement.

          “TL Repayment Percentage” of any Tranche of Term Loans at any time shall be a
fraction (expressed as a percentage) (x) the numerator of which is the aggregate principal amount
of outstanding Term Loans of such Tranche and (y) the denominator of which is the sum of the
aggregate principal amount of all outstanding Term Loans at such time.

          “Total Commitment” shall mean, at any time, the sum of the Total Tranche B Term Loan
Commitment, the Total Tranche C Term Loan Commitment, the Total Incremental Term Loan Commitment
and the Total Credit-Linked Commitment.

          “Total Credit-Linked Commitment” shall mean, at any time, the sum of the
Credit-Linked Commitments of each of the CL Lenders at such time.

          “Total Incremental Term Loan Commitment” shall mean, at any time, the sum of the
Incremental Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Leverage Ratio” shall mean, on any date of determination, the ratio of (i)
Consolidated Net Debt on such date to (ii) Consolidated EBITDA for the Test Period most recently
ended on or prior to such date; provided that for all purposes of this Agreement,
Consolidated EBITDA for purposes of the Total Leverage Ratio shall be
determined on a Pro Forma Basis.

          “Total Tranche B Term Loan Commitment” shall mean, at any time, the sum of the
Tranche B Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Tranche C Term Loan Commitment” shall mean, at any time, the sum of the Tranche
C Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Unutilized Credit-Linked Commitment” shall mean, at any time, an amount equal
to the remainder of (x) the Total Credit-Linked Commitment as in effect at such time less
(y) the Aggregate CL Exposure at such time.

          “Trade Letter of Credit” shall have the meaning set forth in Section
2A.01(a).

          “Tranche” shall mean the respective facilities and commitments utilized in making Loans and
issuing Letters of Credit and Bank Guaranties hereunder (i.e., whether Tranche B Term Loans,
Tranche C Term Loans, the CL Tranche or Incremental Term Loans

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made pursuant to one or more tranches designated pursuant to the respective Incremental Term Loan
Commitment Agreements in accordance with the relevant requirements specified in Section 1.15);
provided that in the circumstances contemplated by Section 1.15(c), Incremental Term Loans
may be made part of a then existing Tranche of Term Loans. On the Restatement Effective Date there
shall be three Tranches hereunder; namely (i) the CL Tranche, (ii) the Tranche B Term Loans and
related commitments and (iii) the Tranche C Term Loans and related commitments.

          “Tranche B Term Loan Commitment” shall mean, with respect to each Lender, the amount
set forth opposite such Lender’s name in Schedule I directly below the column entitled “Tranche B
Term Loan Commitment,” as the same may be terminated pursuant to Sections 3.02, 3.03 and/or 10.

          “Tranche B Term Loan Scheduled Repayment” shall have the meaning provided in Section
4.02(b)(i).

          “Tranche B Term Loan” shall have the meaning provided in Section 1.01
(a).

          “Tranche B Term Note” shall have the meaning provided in Section
1.05(a).

          “Tranche B/C Term Loan Maturity Date” shall mean April 12,
2013.

          “Tranche C Term Loan” shall mean have the meaning provided in Section 1.01(b).

          “Tranche C Term Loan Borrowing Amount” shall mean, with respect to each Lender, the
amount set forth opposite such Lender’s name in Schedule I directly below the column entitled
“Tranche C Term Loan Borrowing Amount,” (i.e., the sum of the Converted Tranche C Term Loans and
the Tranche C Term Loan Commitment) as the same may be (x) reduced from time to time as a result
of prepayments and repayments pursuant to Section 4.01, 4.02 and/or 10 or (y) adjusted from time
to time as a result of assignments of Tranche C Term Loans to or from such Lender pursuant to
Section 1.13 to 13.04(b).

          “Tranche C Term Loan Commitment” shall mean, with respect to each Lender, the amount
set forth opposite such Lender’s name in Schedule I
directly below the column entitled “Tranche C
Term Loan Commitment,” as the same may be terminated pursuant to Sections 3.02, 3.03 and/or 10.

          “Tranche C Term Loan Scheduled Repayment” shall have the meaning provided in Section
4.02(b)(ii).

          “Tranche C Term Note” shall have the meaning provided in Section 1.05(a).

          “Transaction” shall mean, collectively, (i) the amendment and restatement of the Original
Credit Agreement in the form of this Agreement as provided herein, (ii) the entering into of the
ABL Credit Documents and the initial borrowing thereunder, (iii) the occurrence of the Restatement
Effective Date and the Credit Events occurring on such date, (iv) the

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consummation of the Refinancing, and (v) the payment of fees and expenses in connection with the
foregoing.

          “Treaty” means the Treaty establishing the European Community being the Treaty of Rome of
March 25, 1957, as amended by the Single European Act 1986, the Maastricht Treaty (which was signed
at Maastricht on February 7, 1992) and the Treaty of Amsterdam (which was signed in Amsterdam on
October 2, 1997).

          “Type” shall mean the type of Loan determined with regard to the interest option applicable
thereto, i.e., whether a Base Rate Loan or a Eurodollar Loan.

          “U.S.” or “United States” shall mean the United States of America.

          “U.S. Borrower” shall have the meaning provided in the first paragraph of this Agreement.

          “U.S. Borrower Bank Guaranty” shall mean each Bank Guaranty (which may be denominated
in Dollars or an Alternative Currency) issued for the account of the U.S. Borrower pursuant to
section 2B.01 and designated as such by the U.S. Borrower in the respective Bank Guaranty Request.

          “U.S. Borrower Incremental Term Loans” shall mean Incremental Term Loans incurred by
the U.S. Borrower.

          “U.S. Borrower Letter of Credit” shall mean each Letter of Credit (which must be
denominated in Dollars or an Alternative Currency) issued for the account of the U.S. Borrower
pursuant to Section 2A.01.

          “U.S. Borrower Term Loans” shall mean and include all Tranche B Term Loans and all
U.S. Borrower Incremental Term Loans.

          “U.S. Credit Agreement Party” shall mean each Credit Agreement Party other than the
Bermuda Borrower.

          “U.S. Credit Party” shall mean each U.S. Credit Agreement Party and each U.S.
Subsidiary Guarantor.

          “U.S. Dole Group” shall mean the U.S. Borrower and the U.S. Subsidiary Guarantors.

          “U.S.
Dollars,” “Dollars” and the sign “$” shall each mean freely transferable lawful money
of the United States of America.

          “U.S. GAAP” shall mean generally accepted accounting principles in the United States of
America as in effect from time to time; provided that determinations in accordance with
U.S. GAAP for purposes of the definition of “Incremental Term Loan Commitment Requirements” and
Sections 4.02, 8.15 and 9, including defined terms as used therein, and for all

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purposes of determining the Senior Secured Leverage Ratio and the Total Leverage Ratio are subject
(to the extent provided therein) to Section 13.07(a).

          “U.S. Leasehold Property” shall mean each Leasehold Property located in the United
States.

          “U.S. Mortgaged Property” shall mean each Real Property located in the United States
or any State or territory thereof with respect to which a Mortgage is required to be delivered
pursuant to the terms of this Agreement.

          “U.S. Pledge Agreement” shall have the meaning provided in Section 5.11(b).

          “U.S. Pledge Agreement Collateral” shall mean all of the “Collateral” as defined in
the U.S. Pledge Agreement.

          “U.S.
Security Agreement” shall have the meaning provided in Section 5.11(c).

          “U.S. Security Agreement Collateral” shall mean all of the “Collateral” as defined in
the U.S. Security Agreement.

          “U.S. Security Documents” shall mean and include the U.S. Security Agreement, the
U.S. Pledge Agreement, each Mortgage covering a U.S. Mortgage Property and each Additional
Security Document covering assets of a U.S. Credit Party situated in the United States.

          “U.S. Subsidiaries Guaranty” shall have the meaning provided in Section
5.10(a).

          “U.S. Subsidiary Guarantor” shall mean (i) each Wholly-Owned Domestic Subsidiary of
Intermediate Holdco as of the Restatement Effective Date (other than (x) the U.S. Borrower and (y)
the Excluded Domestic Subsidiary) and (ii) each other Wholly-Owned Domestic Subsidiary of
Intermediate Holdco created, established or acquired after the Restatement Effective Date which
executes and delivers a U.S. Subsidiaries Guaranty, unless and until such time as the respective
Domestic Subsidiary ceases to constitute a Domestic Subsidiary or is released from all of its
obligations under its U.S. Subsidiaries Guaranty in accordance with the terms and provisions
thereof, provided that for purposes of Sections 9.02(ix), 9.02(xiii), 9.04(b)(xvi) and
9.05(ix) and the definition of “U.S. Dole Group,” the term “U.S. Subsidiary Guarantor” (and any
term incorporating such term by reference) shall not include Corporate Holdco.

          “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the relevant
jurisdiction.

          “Unfunded Current Liability” shall mean the amount, if any, by which the actuarial
present value of accumulated benefits of any Plan subject to Title IV of ERISA as of the close of
its most recent plan year, determined using actuarial assumptions at such time consistent with
those prescribed by Financial Account Standards No. 87, exceeds the fair market value of the assets
allocable to such liabilities.

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          “Unpaid Drawing” shall have the meaning provided in Section 2A.05(a).

          “Unreimbursed Payment” shall have the meaning provided in Section 2B.05(a).

          “Unrestricted Cash” shall mean all cash and Cash Equivalents owned or held by
Holdings and its Subsidiaries other than cash and Cash Equivalents owned or held by the Excluded
Bermuda Insurance Companies.

          “Unrestricted Subsidiary” of any Person shall mean (i) at any time prior to the
repayment in full of both the Existing 2009 Senior Notes and the Existing 2013 Senior Notes, any
Subsidiary of such Person that is not a Restricted Subsidiary and (ii) thereafter, any Subsidiary
of such Person.

          “Unrestricted Wellbeing Joint Venture” shall mean Westlake Wellbeing Company,
Wellbeing IP Holdco and Wellbeing Edco.

          “Voting Participant” shall have the meaning provided in Section 13.04(a).

          “Voting Participant Notice” shall have the meaning provided in Section
13.04(a).

          “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness at
any date, the number of years obtained by dividing (i) the then outstanding principal amount of
such Indebtedness into (ii) the product obtained by multiplying (x) the amount of each then
remaining installment or other required scheduled payments of principal, including payment at
final maturity, in respect thereof, by (y) the number of years (calculated to the nearest
one-twelfth) that will elapse between such date and the making of such payment.

          “Wellbeing Edco” shall mean a Delaware corporation or limited liability company formed (or to
be formed) by Holdings to promote nutritional and wellbeing education.

          “Wellbeing IP Holdco” shall mean a Delaware corporation or limited liability company
formed (or to be formed) by Holdings to hold the intellectual property rights related to the
Wellbeing Project.

          “Wellbeing Project” shall mean the start-up, construction and operation by Westlake
Wellbeing Company of a well-being center/hotel/spa/conference center/studio on the Westlake
Village Property.

          “Wellbeing Project Financing” shall mean Indebtedness incurred by Holdings, so long as (a) the
proceeds thereof are used (or, in the case of sub-clause (iii) below, deemed used) solely to (i)
finance the construction, start-up and operational deficits of the Wellbeing Project (including any
“cost overruns” on the construction of the Wellbeing Project), (ii) make an Investment in, and/or
repay an intercompany loan owing to, Intermediate Holdco, the proceeds of which are, in turn, used
by Intermediate Holdco to make an Investment in, and/or repay an intercompany loan owing to, the
U.S. Borrower, (iii) “finance” customary expenses which are (x) incurred by lenders providing such
Indebtedness and treated as “protective advances” under the documentation governing such
Indebtedness (e.g., advances for the payment of real estate taxes, insurance premiums, ground rent
and maintenance and repair costs) and (y) deemed added

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as additional Indebtedness of Holdings under such documentation (it being understood, however,
that Indebtedness incurred by Holdings under this clause (iii) may be in the form of a guarantee
by Holdings of additional Indebtedness incurred by the Unrestricted Wellbeing Joint Venture for
the purposes described above in this clause (iii) rather than in the form of direct incurrence by
Holdings), (iv) pay accrued but unpaid interest on the principal of Indebtedness described in this
definition, together with reasonable transaction fees incurred in connection with the incurrence
thereof and/or (v) extend, renew and/or refinance any Indebtedness theretofore incurred pursuant
to this definition, (b) such Indebtedness does not require any scheduled principal repayments
prior to the final stated maturity thereof, (c) such Indebtedness does not require any mandatory
repayments prior to the final stated maturity thereof other than in connection with (x) a “change
of control” (which “change of control” shall not include triggers any tighter than those contained
in the definition of “Change of Control” in this Agreement) or (y) issuances of equity by, or
capital contributions to, Holdings, (d) such Indebtedness does not provide for guaranties or
security from, or require any representation, warranty, event of default or covenant to be
applicable to, any Subsidiary of Holdings, (e) such Indebtedness provides for an “interest
reserve” covering all interest which will accrue on such Indebtedness over the term thereof, which
interest may be in the form of a committed but initially unfunded portion of such Indebtedness
specifically reserved for the payment of accrued but unpaid interest on such Indebtedness, (f)
such Indebtedness expressly permits the pledge of the Equity Interests of the Unrestricted
Wellbeing Joint Ventures pursuant to the U.S. Pledge Agreement, (g) in the case of any
Indebtedness incurred to extend, renew and/or refinance any Indebtedness theretofore incurred in
reliance on this definition, the requirements of clauses (b) through (f), inclusive, above and
clause (h) below are satisfied at the time of the incurrence thereof and (h) all other terms of
such Indebtedness (including, without limitation, with respect to prepayment provisions, covenants
and defaults) are reasonably acceptable to the Administrative Agent, as such Indebtedness may be
amended, modified, supplemented, extended, renewed and/or refinanced from time to time in
accordance with the terms hereof and thereof. The incurrence of the Wellbeing Project Financing
shall be deemed to be a representation and warranty by Holdings that all conditions thereto have
been satisfied in all material respects and that same is permitted in accordance with the terms of
this Agreement, which representation and warranty shall be deemed to be a representation and
warranty for all purposes hereunder, including, without limitation, Section 10.

          “Wellbeing Project Financing Debt Cap Amount” shall mean, at any time, $150,000,000
(as such amount may be reduced by any repayments of principal of the Wellbeing Project Financing,
except to the extent such repayment is made in connection with a refinancing of such Wellbeing
Project Financing consummated in accordance with the definition of “Wellbeing Project Financing”);
provided, however, that (i) the “Wellbeing Project Financing Debt Cap Amount” may exceed
the amount otherwise set forth above at any time, if (but only if) any excess over such amount is
(I) used by Holdings to finance cost overruns and/or operational deficits of the Wellbeing Project
and/or (II) incurred by Holdings for the purposes described in clause (a)(iii) of the definition of
“Wellbeing Project Financing”, and (ii) any such excess permitted by preceding clause (i) shall
also (but without duplication) be reduced by any repayments of principal of the Wellbeing Project
Financing, except to the extent such repayment is made in connection with a refinancing of such
Wellbeing Project Financing consummated in accordance with the definition of “Wellbeing Project
Financing.”

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          “Wellbeing Project Financing Documents” shall mean the loan agreement, dated as of
March 3, 2006, among Holdings, the lenders party thereto from time to time, Deutsche Bank Trust
Company Americas, as administrative agent, and Deutsche Bank Securities, Inc., as sole lead
arranger and sole book runner, and each other agreement, document or instrument relating to the
incurrence or issuance of the Wellbeing Project Financing, as the same may be amended, modified,
supplemented, extended, renewed and/or refinanced from time to time in accordance with the terms
hereof and thereof.

          “Westlake Village Property” shall mean that certain property identified to the
Administrative Agent of twenty (20) acres (more or less) that is adjacent to the parcel on which
the U.S. Borrower’s Corporate Headquarters is located in the City of Westlake Village, Ventura
County, California.

          “Westlake Wellbeing Company” shall mean Westlake Wellbeing Properties LLC, a Delaware
limited liability company formed by Holdings to construct and operate the Wellbeing Project and/or
promote nutritional and wellbeing education.

          “Wholly-Owned Domestic Subsidiary” shall mean, as to any Person, any Wholly-Owned
Subsidiary of such Person that is a Domestic Subsidiary of such Person.

          “Wholly-Owned Foreign Subsidiary” shall mean, as to any Person, any Wholly-Owned
Subsidiary of such Person that is not a Domestic Subsidiary of such Person.

          “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of
whose capital stock (other than director’s qualifying shares and/or other nominal amounts of
shares required by applicable law to be held by Persons other than such Person) is at the time
owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any
partnership, limited liability company, association, joint venture or other entity in which such
Person and/or one or more Wholly-Owned Subsidiaries of such Person has a 100% Equity Interest at
such time; provided that any Foreign Subsidiary of such Person at least 98% of whose
capital stock or other Equity Interests are owned by such Person and/or one or more Wholly-Owned
Subsidiaries (determined after giving effect to this proviso) of such Person at such time shall be
deemed to be a Wholly-Owned Subsidiary of such Person.

          “Written” (whether lower or upper case) or “in writing” shall mean any form of written
communication or a communication by means of telex, facsimile device, telegraph or cable.

          Section 12. The Agents.

          12.01 Appointment. (a) Each Lender hereby irrevocably designates and appoints (x)
DBAG as Administrative Agent for such Lender (for purposes of this Section 12 and the term “Agent”
as used herein, the term “Administrative Agent” shall mean DBAG in its capacities as
Administrative Agent, Deposit Bank, the Intermediate Holdco Paying Agent and as Collateral Agent
hereunder and pursuant to the Security Documents), (y) BAS as Syndication Agent for such Lender,
and (z) Scotia Capital and Rabobank as Co-Documentation Agents for such Lender, each to act as
specified herein and in the other Credit Documents, and each such Lender hereby irrevocably
authorizes the Administrative Agent, the Syndication Agent and each

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Co-Documentation Agent to take such action on its behalf under the provisions of this Agreement and
the other Credit Documents and to exercise such powers and perform such duties as are expressly
delegated to or required of the Administrative Agent, the Syndication Agent or the Co-Documentation
Agents, as the case may be, by the terms of this Agreement and the other Credit Documents, together
with such other powers as are reasonably incidental thereto. Each of the Agents may perform any of
their respective duties under this Agreement, the other Credit Documents and any other instruments
and agreements referred to herein or therein by or through its respective officers, directors,
agents, employees or affiliates (it being understood and agreed, for avoidance of doubt and without
limiting the generality of the foregoing, that the Administrative Agent and/or Collateral Agent may
perform any of its duties under the Security Documents by or through one or more of its
affiliates).

          (b) The provisions of this Section 12 are solely for the benefit of the Administrative Agent,
the Syndication Agent and the Co-Documentation Agents and the Lenders, and neither Holdings nor
any of its Subsidiaries shall have any rights as a third party beneficiary of any of the
provisions hereof. In performing its functions and duties under this Agreement, each of the
Administrative Agent, the Syndication Agent and the Documentation Agent shall act solely as agent
for the Lenders, and none of the Administrative Agent, the Syndication Agent and the
Co-Documentation Agents assumes (and shall not be deemed to have assumed) any obligation or
relationship of agency or trust with or for Holdings or any of its Subsidiaries.

          12.02
Nature of Duties. (a) No Agent shall have any duties or responsibilities except
those expressly set forth in this Agreement and in the other Credit Documents. Neither any Agent
nor any of its officers, directors, agents, employees or affiliates shall be liable for any action
taken or omitted by it hereunder or under any other Credit Document or in connection herewith or
therewith, unless caused by its or their gross negligence or willful misconduct (as determined by
a court of competent jurisdiction in a final and non-appealable decision). The duties of the
Agents shall be mechanical and administrative in nature; no Agent shall have by reason of this
Agreement or any other Credit Document a fiduciary relationship in respect of any Lender or the
holder of any Note and nothing in this Agreement or in any other Credit Document, expressed or
implied, is intended to or shall be so construed as to impose upon any Agent any obligations in
respect of this Agreement or any other Credit Document except as expressly set forth herein or
therein, provided, that the Administrative Agent and/or the Collateral Agent shall be
deemed to be a trustee and stand in a fiduciary relationship with respect to the Lenders and the
holders of Notes for purposes of any Security Document governed by the laws of a jurisdiction
located outside the United States where the Administrative Agent and/or the Collateral Agent, as
the case may be, shall determine, based on advice of local counsel, that same is necessary or
desirable for purposes of realizing the benefits intended to be conferred pursuant to such
Security Document, and the Lenders hereby irrevocably designate each of the Administrative Agent
and the Collateral Agent as their trustee for such purpose and authorize each of the
Administrative Agent and the Collateral Agent to at any time and from time to time take all
actions (including, without limitation, making demand for all amounts then due and payable and the
exercise of other remedies) on their behalf in accordance with the terms of such Security Document
without the necessity of any notice to or further consent from any Lender, and the Lenders hereby
agree to indemnify the Administrative Agent and the Collateral Agent (and each of their respective
officers, directors, trustees, employees, representatives and agents)

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and hold each of them harmless against any and all liabilities, obligations (including removal or
remedial actions), losses, damages, penalties, claims, actions, judgments, suits, costs, expenses
and disbursements (including reasonable attorneys’ and consultants’ fees and disbursements)
incurred by, imposed on or assessed against any of them as a result of, or arising out of, or in
any way related to, or by reason of, the taking of any action or any omission to take action under
any such Security Document unless such action is taken or omitted to be taken with gross
negligence or willful misconduct (as determined by a court of competent jurisdiction in a final
and non-appealable decision).

          (b) Notwithstanding any other provision of this Agreement or any provision of any other
Credit Document, the Lead Arranger is named as such for recognition purposes only, and in its
capacity as such shall have no powers, duties, responsibilities or liabilities with respect to
this Agreement or the other Credit Documents or the transactions contemplated hereby and thereby;
it being understood and agreed that the Lead Arranger shall be entitled to all indemnification and
reimbursement rights in favor of “Agents” as, and to the extent, provided for under Sections 12.07
and 13.01. Without limitation of the foregoing, the Lead Arranger shall not, solely by reason of
this Agreement or any other Credit Documents, have any fiduciary relationship in respect of any
Lender or any other Person.

          12.03 Certain Rights of the Agents. The Agents shall have the right to request
instructions from the Required Lenders at any time. If any Agent shall request instructions
from
the Required Lenders with respect to any act or action (including failure to act) in
connection
with this Agreement or any other Credit Document, such Agent shall be entitled to refrain from
such act or taking such action unless and until such Agent shall have received instructions
from
the Required Lenders; and such Agent shall not incur liability to any Lender by reason of so
refraining. Without limiting the foregoing, neither any Lender nor the holder of any Note
shall
have any right of action whatsoever against any Agent or any of its employees, directors,
officers, agents or affiliates as a result of such Agent or such other person acting or
refraining
from acting hereunder or under any other Credit Document in accordance with the instructions
of
the Required Lenders.

          12.04 Reliance by Agents. Each Agent shall be entitled to rely, and shall be
fully protected (and shall have no liability to any Person) in relying, upon any note,
writing,
resolution, notice, statement, certificate, telex, teletype or telecopier message, cablegram,
radiogram, order, telephone message or other document or conversation that such Agent
believed, in the absence of gross negligence or willful misconduct (as determined by a court
of
competent jurisdiction in a final and non-appealable decision), to be the proper Person, and,
with
respect to all legal matters pertaining to this Agreement and any other Credit Document and
its
duties hereunder and thereunder, upon advice of counsel selected by such Agent (which may be
counsel for the Credit Parties) and, with respect to other matters, upon advice of independent
public accountants or other experts selected by it.

          12.05 Notice of Default, etc. The Administrative Agent shall not be deemed to
have knowledge or notice of the occurrence of any Default or Event of Default unless the
Administrative Agent has actually received written notice from a Lender or Holdings or either
Borrower referring to this Agreement, describing such Default or Event of Default and stating
that such notice is a “notice of default.” In the event that the Administrative Agent receives
such

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a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The
Administrative Agent shall take such action with respect to such Default or Event of Default as
shall be reasonably directed by the Required Lenders; provided that, unless and until the
Administrative Agent shall have received such directions, the Administrative Agent may (but shall
not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as
determined by the Administrative Agent in its sole discretion).

          12.06 Nonreliance on Agents and Other Lenders. Independently and without
reliance upon any Agent, each Lender, each Issuing Lender, each Bank Guaranty Issuer and the
holder of each Note, to the extent it deems appropriate, has made and shall continue to make
its
own independent investigation of the financial condition and affairs of Holdings and its
Subsidiaries in connection with the making and the continuance of the Loans, the issuance and
the participation in Letters of Credit or Bank Guaranties and the taking or not taking of any
action in connection herewith and, except as expressly provided in this Agreement, no Agent
shall have any duty or responsibility, either initially or on a continuing basis, to provide
any
Lender, any Issuing Lender, any Bank Guaranty Issuer or the holder of any Note with any credit
or other information with respect thereto, whether coming into its possession before the
making
of the Loans, the issuing of any Letter of Credit or any Bank Guaranty or at any time or times
thereafter. No Agent or their respective affiliates nor any of their respective officers,
directors,
agents or employees shall be responsible to any Lender, any Issuing Lender, any Bank Guaranty
Issuer or the holder of any Note for, or be required or have any duty to ascertain, inquire or
verify the accuracy of, (i) any recitals, statements, information, representations or
warranties
herein or in any document, certificate or other writing delivered in connection herewith, (ii)
the
execution, effectiveness, genuineness, validity, enforceability, perfection, collectibility,
priority or sufficiency of this Agreement or any other Credit Document, (iii) the financial condition
of
Holdings and any of its Subsidiaries, (iv) the performance or observance of any of the terms,
provisions or conditions of this Agreement or any other Credit Document, (v) the satisfaction
of
any of the conditions precedent set forth in Section 5 or 6, or (vi) the existence or possible
existence of any Default or Event of Default.

          12.07 Indemnification. (a) To the extent any Agent (or any affiliate thereof) is
not reimbursed and indemnified by the Credit Agreement Parties, the Lenders will reimburse and
indemnify such Agent (and any affiliate thereof) in proportion to their respective
“percentages”
as used in determining the Required Lenders (determined as if there were no Defaulting Lenders
and at the time such indemnity is sought), for and against any and all liabilities,
obligations,
losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of
whatsoever kind or nature which may be imposed on, asserted against or incurred by such Agent
(or any affiliate thereof) in performing its respective duties hereunder or under any other
Credit
Document or in any way relating to or arising out of this Agreement or any other Credit
Document in its capacity as Agent, provided that no Lender shall be liable for any
portion of
such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses
or disbursements resulting from such Agent’s gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision).

          (b) Any Agent shall be fully justified in failing or refusing to take any action
hereunder and under any other Credit Document (except actions expressly required to be taken

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by it hereunder or under the Credit Documents) unless it shall first be indemnified to its
satisfaction by the Lenders pro rata against any and all liability, cost and expense that
it may incur by reason of taking or continuing to take any such action.

          (c) The agreements in this Section 12.07 shall survive the payment of all Obligations.

          12.08
Agents in their Individual Capacities. (a) With respect to its obligation to
make Loans, or issue or participate in Letters of Credit or Bank Guaranties, under this
Agreement, each Agent shall have the rights and powers specified herein for a “Lender” and may
exercise the same rights and powers as though it were not performing the duties specified
herein;
and the term “Lender,” “Required Lenders,” “Supermajority Lenders,” “Majority Lenders,”
“holders of Notes” or any similar terms shall, unless the context clearly otherwise indicates,
include each Agent in its individual capacity. Each Agent and its affiliates may accept
deposits
from, lend money to, and generally engage in any kind of banking, investment banking, trust or
other business with, or provide debt financing, equity capital or other services (including
financial advisory services) to, any Credit Party or any Affiliate of any Credit Party (or any
Person engaged in a similar business with any Credit Party or any Affiliate thereof) as if
they
were not performing the duties specified herein, and may accept fees and other consideration
from any Credit Party or any Affiliate of any Credit Party for services in connection with
this
Agreement and otherwise without having to account for the same to the Lenders.

          (b) Without limiting the provisions of preceding clause (a), the parties hereto acknowledge
and agree that any Agent hereunder may also act in individual or agency capacities in connection
with other financings, including, without limitation, pursuant to the ABL Credit Documents. The
parties hereto agree to each of the Agents acting in such other individual and agency capacities,
and shall not raise any claim in connection therewith (except to the extent resulting from the
gross negligence or willful misconduct of the respective such Person as an Agent hereunder).

          12.09 Holders. The Administrative Agent may deem and treat the payee of any
Note as the owner thereof for all purposes hereof unless and until a written notice of the
assignment, transfer or endorsement thereof, as the case may be, shall have been filed with
the
Administrative Agent. Any request, authority or consent of any Person or entity who, at the
time
of making such request or giving such authority or consent, is the holder of any Note shall be
conclusive and binding on any subsequent holder, transferee, assignee or endorsee, as the case
may be, of such Note or of any Note or Notes issued in exchange therefor.

          12.10 Resignation of the Agents. (a) The Administrative Agent may resign
from the performance of all its functions and duties hereunder and/or under the other Credit
Documents (including, without limitation, its functions and duties as Collateral Agent) at any
time by giving 30 Business Days’ prior written notice to the Lenders and, unless a Default or
an
Event of Default under Section 10.05 then exists, Holdings. Any such resignation by the
Administrative Agent hereunder shall also constitute its resignation (if applicable) as an
Issuing
Lender and Bank Guaranty Issuer in which case the resigning Administrative Agent (x) shall not
be required to issue any further Letters of Credit or Bank Guaranties hereunder and (y) shall
maintain all of its rights as Issuing Lender or Bank Guaranty Issuer, as the case may be, with

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respect to any Letter of Credit or Bank Guaranty issued by it, prior to the date of such
resignation. Such resignation shall take effect upon the appointment of a successor Administrative
Agent pursuant to clauses (b) and (c) below or as otherwise provided below.

          (b) Upon any such notice of resignation by the Administrative Agent, the
Required Lenders shall appoint a successor Administrative Agent hereunder and/or under the
other Credit Documents who shall be a commercial bank or trust company acceptable to
Holdings, which acceptance shall not be unreasonably withheld or delayed (provided
that
Holdings’ approval shall not be required if an Event of Default then exists).

          (c) If a successor Administrative Agent shall not have been so appointed
within such 30 Business Day period, the Administrative Agent, with the consent of Holdings
(which consent shall not be unreasonably withheld or delayed, provided that Holdings’
consent
shall not be required if an Event of Default then exists), shall then appoint a successor
Administrative Agent who shall serve as Administrative Agent hereunder and/or under the other
Credit Documents until such time, if any, as the Required Lenders appoint a successor
Administrative Agent as provided above.

          (d) If no successor Administrative Agent has been appointed pursuant to
clause (b) or (c) above by the 30th Business Day after the date such notice of resignation was
given by the Administrative Agent, the Administrative Agent’s resignation shall become
effective and the Required Lenders shall thereafter perform all the duties of the
Administrative
Agent hereunder and/or under any other Credit Document until such time, if any, as the Lenders
appoint a successor Administrative Agent as provided above.

          (e) The Syndication Agent may resign from the performance of all its
functions and duties hereunder and/or under the other Credit Documents at any time by giving
five Business Days’ prior written notice to the Lenders. Such resignation shall take effect at
the
end of such five Business Day period.

          (f) Each Co-Documentation Agent may resign from the performance of all its
functions and duties hereunder and/or under the other Credit Documents at any time by giving
five Business Days’ prior written notice to the Lenders. Such resignation shall take effect at
the
end of such five Business Day period.

          (g) Upon a resignation of any Agent pursuant to this Section 12.10, such
Agent shall remain indemnified to the extent provided in this Agreement and the other Credit
Documents and the provisions of this Section 12 shall continue in effect for the benefit of
such
Agent for all of its actions and inactions while serving as such Agent.

          12.11
Collateral Matters. (a) Each Lender authorizes and directs the Collateral Agent
to enter into the Security Documents and the Intercreditor Agreement. Each Lender hereby agrees,
and each holder of any Note or participant in Letters of Credit or Bank Guaranty by the acceptance
thereof will be deemed to agree, that, except as otherwise set forth herein, any action taken by
the Required Lenders in accordance with the provisions of this Agreement or the Security
Documents, subject to the provisions of the Intercreditor Agreement, and the exercise by the
Required Lenders of the powers set forth herein or therein, together with such other

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powers as are reasonably incidental thereto, shall be authorized and binding upon all of the
Lenders. The Collateral Agent is hereby authorized on behalf of all of the Lenders, without the
necessity of any notice to or further consent from any Lender, from time to time prior to an Event
of Default, to take any action with respect to any Collateral or Security Documents, subject to the
provisions of the Intercreditor Agreement, which may be necessary to perfect and maintain perfected
the security interest in and liens upon the Collateral granted pursuant to the Security Documents.

          (b) The Lenders hereby authorize the Collateral Agent, at its option and in its
discretion, to release any Lien granted to or held by the Collateral Agent upon any
Collateral,
subject to the provisions of the Intercreditor Agreement, (i) upon termination of the
Commitments (and all Letters of Credit and Bank Guaranties) and indefeasible payment and
satisfaction in full of all of the Obligations at any time arising under or in respect of this
Agreement or the Credit Documents or the transactions contemplated hereby or thereby,
(ii) constituting property being sold or otherwise disposed of (to Persons other than Holdings
and
its Subsidiaries) upon the sale or other disposition thereof in compliance with Section 9.02,
(iii) if approved, authorized or ratified in writing by the Required Lenders (or all of the
Lenders
hereunder, to the extent required by Section 13.12) or (iv) as otherwise may be expressly
provided in the relevant Security Documents. Upon request by the Administrative Agent at any
time, the Lenders will confirm in writing the Collateral Agent’s authority to release
particular
types or items of Collateral pursuant to this Section 12.11.

          (c) The Collateral Agent shall have no obligation whatsoever to the Lenders
or to any other Person to assure that the Collateral exists or is owned by any Credit
Agreement
Party or any of its Subsidiaries or is cared for, protected or insured or that the Liens
granted to
the Collateral Agent herein or pursuant hereto have been properly or sufficiently or lawfully
created, perfected, protected or enforced or are entitled to any particular priority, or to
exercise or
to continue exercising at all or in any manner or under any duty of care, disclosure or
fidelity any
of the rights, authorities and powers granted or available to the Collateral Agent in this
Section
12.11 or in any of the Security Documents, it being understood and agreed that in respect of
the
Collateral, or any act, omission or event related thereto, the Collateral Agent may act in any
manner it may deem appropriate, in its sole discretion, given the Collateral Agent’s own
interest
in the Collateral as one of the Lenders and that the Collateral Agent shall have no duty or
liability whatsoever to the Lenders, except for its gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision).

          12.12 Delivery of Information. The Administrative Agent shall not be required to
deliver to any Lender originals or copies of any documents, instruments, notices, communications or
other information received by the Administrative Agent from any Credit Agreement Party, any
Subsidiary, the Required Lenders, any Lender or any other Person under or in connection with this
Agreement or any other Credit Document except (i) as specifically provided in this Agreement or any
other Credit Document and (ii) as specifically requested from time to time in writing by any Lender
with respect to a specific document, instrument, notice or other written communication received by
and in the possession of the Administrative Agent at the time of receipt of such request and then
only in accordance with such specific request.

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          12.13
Special Appointment of Collateral Agent (Germany). (a) Without
prejudice to the generality of Section 12.11:

     (i) each Lender hereby appoints, on the terms hereof, and each Hedging Creditor (as
defined in the U.S. Security Agreement) by its acceptance of the benefits of the German
Security (as defined below) and by notice in writing to the Collateral Agent to that effect
hereby appoints, on the terms hereof, the Collateral Agent as trustee (Treuhaender), agent
and administrator for the purpose of holding on trust (Treuhand), accepting, administering
and enforcing the German Security for and on behalf of the Lenders and the other Secured
Creditors;

     (ii) the Collateral Agent accepts its appointment as a trustee (Treuhaender), agent
and administrator of the German Security on the terms and subject to the conditions set out
in this Agreement;

     (iii) the Secured Creditors agree that, in relation to the German Security, no Secured
Creditor shall exercise any independent power to enforce any German Security or take any
other action in relation to the enforcement of the German Security, or make or receive any
declarations in relation thereto.

     (b) The Collateral Agent shall:

     (i) hold and administer any German Security which is security assigned or otherwise
transferred (Sicherungsubereignung/
Sicherungsabtretung) under German law under a
non-accessory security right (nicht akzessorische Sicherheit) to it as a trustee
(Treuhaender) for the benefit of the Secured Creditors; and

     (ii) administer any German Security which is pledged under German law (Verpfaendung}
or otherwise transferred in accordance with German law to any of the Secured Creditors
under an accessory security right (akzessorische Sicherheit).

          “German Security” means the assets the subject of a security document which is
governed by German Law. Each Secured Creditor hereby authorizes the Collateral Agent to accept, as
its representative (Stellvertreter), any German Security created in favor of such Secured
Creditor.

          (c) Furthermore, each Secured Creditor hereby authorizes (bevollmaechtigt)
the Collateral Agent (with the right of sub-delegation) to enter into any documents evidencing
German Security and to make and accept all declarations and take all actions as it considers
necessary or useful in connection with any German Security on behalf of such Secured Creditor.
The Collateral Agent shall further be entitled to rescind, amend and/or execute new and
different
documents securing the German Security. The Collateral Agent is released from the restrictions
arising under Clause 181 of the German Civil Code (Buergerliches Gesetzbuch) (restrictions on
self-dealing).

          12.14
Special Provisions Relating to Canadian Security Documents. (a) For
greater certainty, and without limiting the powers of the Collateral Agent hereunder or under
any
of the Foreign Security Documents, each of the Bermuda Borrower and the Secured Creditors

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hereby acknowledges that the Collateral Agent is, for purposes of holding any security granted by
Dole Foods of Canada Ltd. (“Dole Canada”) on the property of Dole Canada pursuant to the laws of
the Province of Quebec, the holder of an irrevocable power of attorney (fondé de pouvoir) (within
the meaning of the Civil Code of Quebec) for all present and future Secured Creditors and in
particular for all present and future holders of the bond issued by Dole Canada in favor of the
Collateral Agent (the “Canadian Bond”). Each of the Agents and Lenders (for themselves as Secured
Creditors and for the Other Creditors (as defined in the security agreement governed by the laws of
the Province of Ontario executed by Dole Canada (the “Canadian Security Agreement”)) hereby
irrevocably confirms the constitution of and constitutes, to the extent necessary, the Collateral
Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of
Article 2692 of the Civil Code of Quebec) in order to hold security granted by Dole Canada in the
Province of Quebec to secure the Canadian Bond. The acceptance of an assignment by an assignee of a
Secured Creditor shall be deemed to have confirmed and ratified the constitution of the Collateral
Agent as the holder of such irrevocable power of attorney (fondé de pouvoir). For greater
certainty, by their acceptance of the benefits of the Canadian Security Agreement, each of the
Other Creditors (as defined in the Canadian Security Agreement) shall be deemed to have confirmed
and ratified the appointment of the Collateral Agent for purposes of the Bond and the Bond pledge
agreement to be entered into by Dole Canada pursuant to the laws of the Province of Quebec.
Notwithstanding the provisions of Section 32 of An Act respecting the special powers of legal
persons (Quebec), each of the Bermuda Borrower, the Agents and the Lenders (for themselves as
Secured Creditors and for the Other Creditors) agree that the Collateral Agent may acquire and be
the holder of the Canadian Bond. The Bermuda Borrower hereby acknowledges that the Canadian Bond
constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of
Quebec.

          (b) Each Lender irrevocably consents to the amendment of the Canadian Security Agreement
pursuant to the acknowledgement, confirmation and amendment of security dated as of the date
hereof between Dole Canada and the Collateral Agent.

          12.15
Special Appointment of Collateral Agent (Italy). (a) Without prejudice to the
generality of Section 12.11:

     (i) each Lender (including, without limitation, each Lender which is a Hedging
Creditor (as defined in the Foreign Subsidiaries Guaranty)) (as “mandante” under Italian
law), by executing this Agreement, irrevocably appoints the Collateral Agent to act as
agent (“mandatario con rappresentanza” under Italian law) under and in connection with the
Foreign Security Documents governed by Italian law (collectively, the “Italian
Collateral Documents”) and irrevocably authorizes the Collateral Agent (x) to execute
on its behalf the Italian Collateral Documents, and (y) to perform the duties and to
exercise the rights, powers and discretions that are specifically delegated to it under or
in connection with the Italian Collateral Documents, together with any other incidental
rights, powers and discretions; and

     (ii) each Lender (including, without limitation, each Lender which is a Hedging
Creditor (as defined in the Foreign Subsidiaries Guaranty)) irrevocably authorizes the
Collateral Agent for and on its behalf to exercise the rights, powers and

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discretions which are specifically delegated to it by the terms of the Italian Collateral
Documents and this Agreement, together with all rights, powers and discretions which are
incidental thereto and to give any discharge for any monies payable under the Italian
Collateral Documents.

          (b) Notwithstanding Section 13.08 hereof, the provisions of this Section 12.15 shall be
governed by Italian law.

          12.16 Continuing Indemnities for Original Agents. Notwithstanding the Amendment and
Restatement of the Original Credit Agreement, the parties hereto understand and agree that all
indemnities provided pursuant to the Original Credit Agreement (whether by the Original Lenders,
the Borrowers or any other Credit Party) shall continue in full force and effect in accordance
with the terms of the Original Credit Agreement, for any actions or occurrences prior to the
Restatement Effective Date, in accordance with the terms of the Original Credit Agreement. Any
indemnities pursuant to the preceding sentence shall be in addition to any applicable indemnities
hereunder.

          Section 13. Miscellaneous.

          13.01 Payment of Expenses, etc. The Credit Agreement Parties jointly and severally
agree to: (i) whether or not the transactions herein contemplated are consummated, pay all
reasonable out-of-pocket costs and expenses of the Agents, the Collateral Agent, the Intermediate
Holdco Paying Agent, and the Deposit Bank (including, without limitation, the reasonable fees and
disbursements of White & Case LLP and local and foreign counsel) in connection with the
negotiation, preparation, execution, delivery and administration of this Agreement and the other
Credit Documents (including, without limitation, with respect to the Intermediate Holdco
Refinancing, the Intermediate Holdco Prepayment Consummation and the administration of the
Credit-Linked Deposit Account and the Credit-Linked Deposits) and the documents and instruments
referred to herein and therein and of the Administrative Agent and the Collateral Agent in
connection with any amendment, waiver or consent relating hereto or thereto, and of each Agent in
connection with its syndication efforts with respect to this Agreement; provided, however,
that the Credit Agreement Parties shall not be obligated to pay legal fees and expenses of counsel
incurred in connection with the initial negotiation, preparation, execution and delivery of the
Credit Documents other than the legal fees and expenses of White & Case LLP, and such other local
and foreign counsel as may be engaged by the Administrative Agent to address issues arising in
connection with the Transaction and/or to prepare security documentation governed by local or
foreign law; (ii) pay all reasonable out-of-pocket costs and expenses of each Agent, the Collateral
Agent, each Issuing Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the
Deposit Bank and each of the Lenders in connection with the enforcement of the Credit Documents and
the documents and instruments referred to therein or entered into or delivered in connection
therewith (including, without limitation, the reasonable fees and disbursements of counsel) and the
protection of the rights of each Agent, the Collateral Agent, each Issuing Lender, each Bank
Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each of the Lenders
thereunder (including, without limitation, the reasonable fees and disbursements of counsel
(including in-house counsel) for each Agent, the Collateral Agent, each Issuing Lender, each Bank
Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each of the

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Lenders); (iii) pay and hold each of the Agents, the Collateral Agent, each Issuing Lender, each
Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each of the
Lenders harmless from and against any and all present and future stamp, documentary, transfer,
sales and use, value added, excise and other similar taxes with respect to the foregoing matters,
the performance of any obligation under this Agreement or any other Credit Document or any payment
thereunder, and save each of the Agents, the Collateral Agent, each Issuing Lender, each Bank
Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each of the Lenders
harmless from and against any and all liabilities with respect to or resulting from any delay or
omission (other than to the extent attributable to the Agents, the Collateral Agent, such Issuing
Lender, such Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank or such
Lender) to pay such taxes; and (iv) indemnify each Agent, the Collateral Agent, each Issuing
Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank each
Lender, each affiliate of the foregoing Persons and their respective officers, directors,
employees, representatives, trustees, advisors, and agents (each, an “Indemnified Person”) from and
hold each of them harmless against any and all liabilities, obligations (including removal or
remedial actions), losses, damages, penalties, claims, actions, costs, expenses and disbursements
incurred by, imposed on or assessed against any of them as a result of, or arising out of, or in
any way related to, or by reason of, (a) any investigation, litigation or other proceeding (whether
or not any Agent, the Collateral Agent, any Issuing Lender, any Bank Guaranty Issuer, the
Intermediate Holdco Paying Agent, the Deposit Bank or any Lender is a party thereto and whether or
not any such investigation, litigation or other proceeding is between or among any Agent, the
Collateral Agent, any Issuing Lender, any Bank Guaranty Issuer, the Intermediate Holdco Paying
Agent, the Deposit Bank any Lender, any Credit Party or any third Person or otherwise) related to
the entering into and/or performance of this Agreement or any other Document or the use of any
Letter of Credit, Bank Guaranty, any Intermediate Holdco Repayment Funds, Credit-Linked Deposit or
the proceeds of any Loans hereunder or the Transaction or the consummation of any other
transactions contemplated by any Document or the exercise or enforcement of any of their rights or
remedies provided herein or in the other Credit Documents (but excluding any such liabilities,
obligations, losses, damages, penalties, claims, actions, costs, expenses and disbursements to the
extent incurred by reason of the gross negligence or willful misconduct (as determined by a court
of competent jurisdiction in a final and non-appealable decision) of the Person to be indemnified),
or (b) the actual or alleged presence of Hazardous Materials in the air, surface water or
groundwater or on the surface or subsurface of any Real Property at any time owned, leased or
operated by any Credit Party or any of its Subsidiaries, the Release, generation, storage,
transportation, handling or disposal of Hazardous Materials at any location, whether or not owned,
leased or operated by any Credit Party or any of its Subsidiaries, the non-compliance of any Real
Property with foreign, federal, state and local laws, regulations, and ordinances (including
applicable permits thereunder) applicable to any Real Property, or any Environmental Claim in
connection with or relating to any Credit Party, any of its Subsidiaries or any of their operations
or activities or any Real Property at any time owned, leased or operated by any Credit Party or any
of its Subsidiaries, in each case, including, without limitation, the reasonable fees and
disbursements of counsel and
independent consultants incurred in connection with any such
investigation, litigation or other proceeding (but excluding any such liabilities, obligations,
losses, damages, penalties, claims, actions, costs, expenses and disbursements to the extent
incurred by reason of the gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final

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and non-appealable decision) of the Person to be indemnified)). To the extent that the undertaking
to indemnify, pay or hold harmless any Agent, the Collateral Agent, any Issuing Lender, any Bank
Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank, or any Lender set forth in
the preceding sentence may be unenforceable because it is violative of any law or public policy,
the Credit Agreement Parties hereby agree to make the maximum contribution to the payment and
satisfaction of each of the indemnified liabilities which is permissible under applicable law.

          13.02 Right of Setoff. (a) In addition to any rights now or hereafter granted under
applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence
of an Event of Default, each Agent, each Issuing Lender, each Bank Guaranty Issuer, each Lender
and the Collateral Agent is hereby authorized at any time or from time to time, without
presentment, demand, protest or other notice of any kind to Holdings or any of its Subsidiaries or
to any other Person, any such notice being hereby expressly waived, to set off and to appropriate
and apply any and all deposits (general or special) and any other Indebtedness at any time held or
owing by such Agent, such Issuing Lender, Bank Guaranty Issuer, such Lender or the Collateral
Agent (including, without limitation, by branches and agencies of such Agent, such Issuing Lender,
such Bank Guaranty Issuer, such Lender or the Collateral Agent wherever located) to or for the
credit or the account of Holdings or any of its Subsidiaries against and on account of the
Obligations and liabilities of Holdings or such Subsidiary, as the case may be, to such Agent,
such Issuing Lender, such Bank Guaranty Issuer, such Lender or the Collateral Agent under this
Agreement or under any of the other Credit Documents, including, without limitation, all interests
in Obligations purchased by such Lender pursuant to Section 13.06(b), all participations by any
Lender in Letters of Credit, Bank Guaranties as required pursuant to the provisions of this
Agreement and all other claims of any nature or description arising out of or connected with this
Agreement or any other Credit Document, irrespective of whether or not such Agent, such Issuing
Lender, such Bank Guaranty Issuer, such Lender or the Collateral Agent shall have made any demand
hereunder and although said Obligations shall be contingent or unmatured. Each Borrower agrees
that any Lender purchasing participations in one or more Letters of Credit or Bank Guaranties
issued to it as required by the provisions of this Agreement, or purchasing participations as
required by Section 13.06(b), may, to the fullest extent permitted by law, exercise all rights
(including without limitation the right of setoff) with respect to such participations as fully as
if such Lender is a direct creditor of such Borrower with respect to such participations in the
amount thereof.

          (b) NOTWITHSTANDING THE FOREGOING SUBSECTION (a), AT ANY TIME THAT THE LOANS OR ANY OTHER
OBLIGATION SHALL BE SECURED BY REAL PROPERTY LOCATED IN CALIFORNIA, NO LENDER OR THE
ADMINISTRATIVE AGENT SHALL EXERCISE A RIGHT OF SETOFF, LIEN OR COUNTERCLAIM OR TAKE ANY COURT OR
ADMINISTRATIVE ACTION OR INSTITUTE ANY PROCEEDING TO ENFORCE ANY PROVISION OF THIS AGREEMENT OR
ANY NOTE UNLESS IT IS TAKEN WITH THE CONSENT OF THE REQUIRED LENDERS OR APPROVED IN WRITING BY THE
ADMINISTRATIVE AGENT, IF SUCH SETOFF OR ACTION OR PROCEEDING WOULD OR MIGHT (PURSUANT TO
CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS 580a, 580b, 580d AND 726 OF THE CALIFORNIA CODE OF
CIVIL PROCEDURE OR SECTION 2924 OF THE CALIFORNIA CIVIL CODE, IF APPLICABLE, OR OTHERWISE) AFFECT
OR IMPAIR

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THE VALIDITY, PRIORITY OR ENFORCEABILITY OF THE LIENS GRANTED TO THE COLLATERAL AGENT PURSUANT TO
THE SECURITY DOCUMENTS OR THE ENFORCEABILITY OF THE NOTES AND OTHER OBLIGATIONS HEREUNDER, AND ANY
ATTEMPTED EXERCISE BY ANY LENDER OR THE ADMINISTRATIVE AGENT OF ANY SUCH RIGHT WITHOUT OBTAINING
SUCH CONSENT OF THE REQUIRED LENDERS OR THE ADMINISTRATIVE AGENT SHALL BE NULL AND VOID. THIS
SUBSECTION (b) SHALL BE SOLELY FOR THE BENEFIT OF EACH OF THE LENDERS AND THE ADMINISTRATIVE AGENT
HEREUNDER.

          13.03
Notices. (a) Except as otherwise expressly provided herein, all notices
and other communications provided for hereunder shall be in writing (including telegraphic,
telex, facsimile or cable communication) and mailed, telegraphed, telexed, telecopied, cabled
or
delivered: if to any Credit Agreement Party, at the address specified opposite its signature
below; if to any Lender, at its address specified for such Lender on Schedule II; and if to
the
Administrative Agent, at its Notice Office; or, as to any Credit Agreement Party or any of the
Agents, at such other address as shall be designated by such party in a written notice to the
other
parties hereto and, as to each Lender, at such other address as shall be designated by such
Lender
in a written notice to Holdings and the Administrative Agent. All such notices and
communications shall be mailed, telegraphed, telexed, telecopied or cabled or sent by
overnight
courier, and shall be effective when received.

          (b) Without in any way limiting the obligation of Holdings and its Subsidiaries to confirm in
writing any telephonic notice permitted to be given hereunder, any Agent, any Issuing Lender (in
the case of the issuance of a Letter of Credit) or any Bank Guaranty Issuer (in the case of the
issuance of a Bank Guaranty), as the case may be, may prior to receipt of written confirmation act
without liability upon the basis of such telephonic notice, believed by such Agent, such Issuing
Lender or such Bank Guaranty Issuer in good faith to be from an Authorized Officer. In each such
case, Holdings and each of the Borrowers hereby waive the right to dispute such Agent’s, or such
Issuing Lender’s or such Bank Guaranty Issuer’s record of the terms of such telephonic notice.

          13.04
Benefit of Agreement. (a) This Agreement shall be binding upon and
inure to the benefit of and be enforceable by the respective successors and assigns of the
parties
hereto; provided, however, no Credit Agreement Party may assign or transfer any of its
rights,
obligations or interest hereunder or under any other Credit Document without the prior written
consent of each of the Lenders and, provided, further, that, although any Lender may
(without
the consent of any Credit Party) transfer, assign or grant participations in its rights
hereunder,
such Lender shall remain a “Lender” for all purposes hereunder (and may not transfer or assign
all or any portion of its Commitments or Loans hereunder except as provided in Section
13.04(b)) and the transferee, assignee or participant, as the case may be, shall not
constitute a
“Lender” hereunder and, provided, further, that no Lender shall transfer or
grant any
participation under which the participant shall have rights to approve any amendment to or
waiver of this Agreement or any other Credit Document except (I) to the extent such amendment
or waiver would (i) extend the final scheduled maturity of any Loan, Note, Letter of Credit or
Bank Guaranty (unless such Letter of Credit or Bank Guaranty is not extended beyond the CL
Maturity Date) in which such participant is participating, or reduce the rate or extend the
time of
payment of interest or Fees thereon (except in connection with a waiver of applicability of
any

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post-default increase in interest rates) or reduce the principal amount thereof, or increase the
amount of the participant’s participation over the amount thereof then in effect (it being
understood that a waiver of any Default or Event of Default or of a mandatory reduction in the
Total Commitment or of a mandatory repayment of Loans shall not constitute a change in the terms
of such participation, that an increase in any Commitment or Loan shall be permitted without the
consent of any participant if the participant’s participation is not increased as a result thereof
and that any amendment or modification to the financial definitions in this Agreement shall not
constitute a reduction in any rate of interest or fees for purposes of this clause (i),
notwithstanding the fact that such amendment or modification actually results in such a
reduction), (ii) consent to the assignment or transfer by any Credit Agreement Party of any of its
rights and obligations under this Agreement or (iii) release all or substantially all of the
Collateral under all of the Security Documents (except as expressly provided in the Security
Documents) supporting the Obligations in which such participant is participating and (II) that,
solely in the case of a participant (each, a “Voting Participant”) which (x) has purchased a
participation interest in such Lender’s Commitments and/or outstanding Term Loans in a minimum
aggregate amount (without duplication) of at least $2,000,000 on or after the Restatement
Effective Date and (y) is (A) designated by such Lender to the U.S. Borrower and the
Administrative Agent by written notice (a “Voting Participant Notice”) as being entitled
to be accorded the rights of a “voting” participant hereunder, (B) approved by the U.S. Borrower
and the Administrative Agent (such approvals not to be unreasonably withheld or delayed) and (C)
not a Disqualified Voting Participant, such participant shall be entitled to vote with respect to
each Tranche in which it holds a participation from such Lender (and the voting rights of such
Lender for each such Tranche shall be correspondingly reduced), on a Dollar basis, as if such
participant were a Lender under such Tranche on any matter requiring or allowing such Lender to
provide or withhold its consent or to otherwise vote on any proposed action (with any Voting
Participant Notice, with respect to any Voting Participant, to be effective only if same (a)
states the full legal name of such Voting Participant, as well as the relevant contact information
and administrative details for such Voting Participant, and (b) states the Dollar amount of the
participation interest in each Tranche purchased). In the case of any such participation, the
participant shall not have any rights under this Agreement or any of the other Credit Documents
(the participant’s rights against such Lender in respect of such participation to be those set
forth in the agreement executed by such Lender in favor of the participant relating thereto) and
all amounts payable by the Borrowers hereunder shall be determined as if such Lender had not sold
such participation; provided that a Voting Participant shall have the voting rights to
which it is entitled as described in the preceding sentence.

          (b) Notwithstanding the foregoing, any Lender (or any Lender together with one or more other
Lenders) may (x) assign all or a portion of its outstanding Term Loans and/or Credit-Linked
Commitments (and related outstanding Obligations (and Credit-Linked Deposit, if applicable)
hereunder) to (i) its parent company and/or any affiliate of such Lender which is at least 50%
owned by such Lender or its parent company, (ii) one or more Lenders or (iii) in the case of any
Lender that is a fund that invests in bank loans, any other fund that invests in bank loans and is
managed by the same investment advisor of a Lender or by an Affiliate of such investment advisor or
(y) assign all, or if less than all, a portion equal to at least (A) $1,000,000 in the aggregate
for the assigning Lender or assigning Lenders, of such outstanding principal amount of Term Loans
hereunder and (B) $1,000,000 in the aggregate for the assigning Lender or assigning Lenders, of
such Credit-Linked Commitments and related Credit-Linked Deposit

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and Obligations, in each case, to one or more Eligible Transferees (treating (I) any fund that
invests in bank loans and (II) any other fund that invests in bank loans and is managed by the same
investment advisor as such fund or by an Affiliate of such investment advisor, as a single Eligible
Transferee), each of which assignees shall become a party to this Agreement as a Lender by
execution of an Assignment and Assumption Agreement, provided that (i) at such time
Schedule I shall be deemed modified to reflect the outstanding Term Loans and/or Credit-Linked
Commitments, as the case may be, of such new Lender and of the existing Lenders, (ii) upon the
request of the respective Lender and upon the surrender of the old Notes (if any), new Notes will
be issued, at the Borrowers’ expense, to such new Lender and to the assigning Lender, such new
Notes to be in conformity with the requirements of Section 1.05 (with appropriate modifications) to
the extent needed to reflect the revised outstanding Term Loans, as the case may be, (iii) except
in the case of assignments by the Agents in connection with their syndication of this Agreement,
the consent of the Administrative Agent and, so long as no Default or Event of Default then exists
and is continuing, the U.S. Borrower shall be required in connection with any such assignment
pursuant to clause (y) of this Section 13.04(b) (which consent shall not be unreasonably withheld
or delayed) and (iv) Administrative Agent shall receive at the time of each such assignment, from
the assigning or assignee Lender, the payment of a non-refundable assignment fee of $3,500 and,
provided, further, that such transfer or assignment will not be effective until recorded by
the Administrative Agent on the Register pursuant to Section 13.17. To the extent of any assignment
pursuant to this Section 13.04(b), the assigning Lender shall be relieved of its obligations
hereunder with respect to its assigned Commitments (and, in the case of an assignment of
Credit-Linked Commitments, will lose its rights with respect to the assigned CL Percentage in its
Credit-Linked Deposit) and/or outstanding Term Loans, as the case may be. At the time of each
assignment pursuant to this Section 13.04(b) to a Person which is not already a Lender hereunder
and which is not a United States person (as such term is defined in Section 7701(a)(30) of the
Code) for Federal income tax purposes, the respective assignee Lender shall, to the extent legally
entitled to do so, provide to the U.S. Borrower and the Administrative Agent the appropriate
Internal Revenue Service Forms (and, if applicable, a Section 4.04(b)(ii) Certificate) described in
Section 4.04(b)(ii) to the extent such forms would provide a complete exemption from or reduction
in United States withholding tax. To the extent that an assignment of all or any portion of a
Lender’s Commitments and related outstanding Obligations pursuant to Section 1.13 or this Section
13.04(b) would, at the time of such assignment, result in increased costs under Section 1.10, 1.11,
2A.06, 2B.06, or 4.04 from those being charged by the respective assigning Lender prior to such
assignment, then the Borrowers shall not be obligated to pay such increased costs (although the
Borrowers, in accordance with and pursuant to the other provisions of this Agreement, shall be
obligated to pay any other increased costs of the type described above resulting from changes after
the date of the respective assignment). Notwithstanding anything to the contrary contained above,
at any time after the termination of the Total Credit-Linked Commitment, if any Letters of Credit
or Bank Guaranties remain outstanding, assignments may be made as provided above, except that the
respective assignment shall be of a portion of the respective CL Lender’s participation in Letters of Credit and Bank Guaranties (and the related share of its Credit-Linked Deposit), although any
such assignment effected after the termination of the Total Credit-Linked Commitment shall not
release the assigning CL Lender from its obligations as a participant with respect to outstanding
Letters of Credit or Bank Guaranties (although the respective assignee may agree, as between itself
and the respective assigning CL Lender, that it shall be responsible for such amounts). The
Credit-Linked Deposit

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funded by any CL Lender shall not be released in connection with any assignment of its
Credit-Linked Commitment, but shall instead be purchased (to the extent of the CL Percentage so
assigned) by the relevant assignee and continue to be held for application (if not already
applied) pursuant to Section 2 in respect of such assignee’s obligations under the Credit-Linked
Commitment assigned to it.

          (c) Nothing in this Agreement shall prevent or prohibit any Lender from pledging its Loans
and Notes hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from
such Federal Reserve Bank and, without the consent of the Administrative Agent or any Credit
Agreement Party, any Lender which is a fund may pledge all or any portion of its Notes or Loans to
its trustee or to a collateral agent or to another creditor providing credit or credit support to
such Lender in support of its obligations to such trustee, such Collateral Agent or a holder of,
or any other representative of a holder of, such obligations, or such other creditor, as the case
may be. No pledge pursuant to this clause (c) shall release the transferor Lender from any of its
obligations hereunder or substitute (by foreclosure or otherwise) any such pledge or assignee for
such Lender as a party hereto.

          13.05 No Waiver; Remedies Cumulative. No failure or delay on the part of any
Agent, the Collateral Agent or any Lender in exercising any right, power or privilege
hereunder
or under any other Credit Document and no course of dealing between any Credit Party and any
Agent, the Collateral Agent or any Lender shall operate as a waiver thereof, nor shall any
single
or partial exercise of any right, power or privilege hereunder or under any other Credit
Document
preclude any other or further exercise thereof or the exercise of any other right, power or
privilege hereunder or thereunder. The rights and remedies herein expressly provided are
cumulative and not exclusive of any rights or remedies which any Agent, the Collateral Agent
or
any Lender would otherwise have. No notice to or demand on any Credit Party in any case shall
entitle any Credit Party to any other or further notice or demand in similar or other
circumstances
or constitute a waiver of the rights of any Agent, the Collateral Agent or any Lender to any
other
or further action in any circumstances without notice or demand.

          13.06 Payments Pro Rata. (a) The Administrative Agent agrees that promptly
after its receipt of each payment from or on behalf of any Credit Party in respect of any
Obligations of such Credit Party, it shall, except as otherwise provided in this Agreement,
distribute such payment to the Lenders (other than any Lender that has consented in writing to
waive its pro rata share of such payment) pro rata based upon their respective
shares, if any, of
the Obligations with respect to which such payment was received.

          (b) Each of the Lenders agrees that, if it should receive any amount hereunder (whether by
voluntary payment, by realization upon security, by the exercise of the right of setoff or
banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Credit
Documents, or otherwise) which is applicable to the payment of the principal of, or interest on,
the Loans, Unpaid Drawings or Fees, of a sum which with respect to the related sum or sums
received by other Lenders is in a greater proportion than the total of such Obligation then owed
and due to such Lender bears to the total of such Obligation then owed and due to all of the
Lenders immediately prior to such receipt, then such Lender receiving such excess payment shall
purchase for cash without recourse or warranty from the other Lenders an interest in the
Obligations of the respective Credit Party to such Lenders in such amount as shall result in

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a proportional participation by all of the Lenders in such amount; provided that if all or
any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be
rescinded and the purchase price restored to the extent of such recovery, but without interest.

          (c) Notwithstanding anything to the contrary contained herein, the provisions of the
preceding Sections 13.06(a) and (b) shall be subject to the express provisions of this Agreement
which require, or permit, differing payments to be made to Non-Defaulting Lenders as opposed to
Defaulting Lenders.

          13.07
Calculations; Computations. (a) The financial statements to be furnished
to the Lenders pursuant hereto shall be made and prepared in accordance with U.S. GAAP
consistently applied throughout the periods involved (except as set forth in the notes thereto
or as
otherwise disclosed in writing by the U.S. Borrower to the Lenders), provided that (i)
except as
otherwise specifically provided herein, all computations determining the Excess Cash Flow, the
Senior Secured Leverage Ratio, the Total Leverage Ratio and compliance with Sections 4, 8.15
and 9, including in each case definitions used therein, shall, in each case, utilize United
States
accounting principles and policies in effect at the time of the preparation of, and in
conformity
with those used to prepare, the historical consolidated audited financial statements of the
U.S.
Borrower delivered to the Lenders pursuant to Section 7.10(b) for Fiscal Year 2004, (ii) to
the
extent expressly required pursuant to the provisions of this Agreement, certain calculations
shall
be made on a Pro Forma Basis and (iii) for purposes of determining compliance with any
incurrence or expenditure tests set forth in Sections 8 and/or 9, any amounts so incurred or
expended (to the extent incurred or expended in a currency other than Dollars) shall be
converted
into Dollars on the basis of the exchange rates (as shown on Reuters ECB page 37 or, if same
does not provide such exchange rates, on such other basis as is reasonably satisfactory to the
Administrative Agent) as in effect on the date of such incurrence or expenditure under any
provision of any such Section that has an aggregate Dollar limitation provided for therein
(and to
the extent the respective incurrence or expenditure test regulates the aggregate amount
outstanding at any time and it is expressed in terms of Dollars, all outstanding amounts
originally
incurred or spent in currencies other than Dollars shall be converted into Dollars on the
basis of
the exchange rates (as shown on Reuters ECB page 37 or, if same does not provide such
exchange rates, on such other basis as is reasonably satisfactory to the Administrative Agent)
as
in effect on the date of any new incurrence or expenditures made under any provision of any
such Section that regulates the Dollar amount outstanding at any time).

          (b) All computations of interest and Fees hereunder shall be made on the basis of a year of
360 days for the actual number of days (including the first day but excluding the last day)
occurring in the period for which such interest or Fees are payable.

          13.08
Governing Law; Submission to Jurisdiction; Venue. (a) THIS
AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL, EXCEPT
AS OTHERWISE PROVIDED IN CERTAIN OF THE SUBSIDIARIES GUARANTIES AND
SECURITY DOCUMENTS, BE CONSTRUED IN ACCORDANCE WITH AND BE
GOVERNED BY THE LAW OF THE STATE OF NEW YORK. Any legal action or
proceeding with respect to this Agreement or any other Credit Document may be brought in the
courts of the State of New York or of the United States for the Southern District of New York,
in

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each case located within the City of New York and, by execution and delivery of this Agreement,
each Credit Agreement Party hereby irrevocably accepts for itself and in respect of its property,
generally and unconditionally, the jurisdiction of the aforesaid courts. Each Credit Agreement
Party hereby irrevocably designates, appoints and empowers Corporation Service Company, with
offices on the Restatement Effective Date at 80 State Street, Albany, NY 12207, as its designee,
appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its
property, service of any and all legal process, summons, notices and documents which may be served
in any such action or proceeding. If for any reason such designee, appointee and agent shall cease
to be available to act as such, each Credit Agreement Party agrees to designate a new designee,
appointee and agent in New York City on the terms and for the purposes of this provision reasonably
satisfactory to the Administrative Agent under this Agreement. Each Credit Agreement Party hereby
further irrevocably waives any claim that any such courts lack jurisdiction over such Credit
Agreement Party, and agrees not to plead or claim, in any legal action or proceeding with respect
to this Agreement or any other Credit Document brought in any of the aforesaid courts, that any
such court lacks jurisdiction over such Credit Agreement Party. Each Credit Agreement Party further
irrevocably consents to the service of process in any such action or proceeding by the mailing of
copies thereof by registered or certified mail, postage prepaid, to such Credit Agreement Party, as
the case may be, at its address for notices pursuant to Section 13.03, such service to become
effective 30 days after such mailing. Each Credit Agreement Party hereby irrevocably waives any
objection to such service of process and further irrevocably waives and agrees not to plead or
claim in any action or proceeding commenced hereunder or under any other Credit Document that
service of process was in any way invalid or ineffective. Nothing herein shall affect the right of
any Agent, the Collateral Agent, any Lender or the holder of any Note to serve process in any other
manner permitted by law or to commence legal proceedings or otherwise proceed against any Credit
Agreement Party in any other jurisdiction.

          (b) EACH CREDIT AGREEMENT PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT
OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS
REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR
CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN
BROUGHT IN AN INCONVENIENT FORUM.

          13.09 Counterparts. This Agreement may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts executed by all the parties hereto shall be
lodged with each Credit Agreement Party and the Administrative Agent.

          13.10 Effectiveness. This Agreement shall become effective (subject to the
immediately succeeding sentence) on the date (the “Restatement Effective Date”) on
which (i)
each Credit Agreement Party, Original Lenders constituting the Original Required Lenders, each
Consenting Tranche C Term Loan Lender, each Lender with a Tranche B Term Loan

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Commitment, each Lender with a Tranche C Term Loan Commitment, each Lender with a Credit-Linked
Commitment, each Agent, each Issuing Lender of an Existing Letter of Credit, each Bank Guaranty
Issuer of an Existing Bank Guaranty and the Lead Arranger shall have signed a counterpart hereof
(whether the same or different counterparts) and shall have delivered the same (including by way
of facsimile transmission) to the Administrative Agent and (ii) the other conditions contained in
Sections 5 and 6 are met to the satisfaction of the Administrative Agent and the Required Lenders.
Notwithstanding anything to the contrary contained in the immediately preceding sentence, any
amendments to the Original Credit Agreement effected pursuant to the amendment and restatement
thereof on the Restatement Effective Date pursuant to this Agreement, to the extent requiring the
consent of Original Lenders in excess of that required to meet the definition of Original Required
Lenders, shall instead become effective on the Restatement Effective Date, but immediately after
giving effect thereto (at which time 100% of the Lenders hereunder, after giving effect to the
prepayments required on the Restatement Effective Date, shall provide such consents by their
execution and delivery of copies hereof). Unless the Administrative Agent has received actual
notice from any Lender that the conditions contained in Sections 5 and 6 have not been met to its
satisfaction, upon the satisfaction of the condition described in clause (i) of the immediately
preceding sentence and upon the Administrative Agent’s good faith determination that the
conditions described in clause (ii) of the immediately preceding sentence have been met, then the
Restatement Effective Date shall be deemed to have occurred, regardless of any subsequent
determination that one or more of the conditions thereto had not been met (although the occurrence
of the Restatement Effective Date shall not release any Credit Party from any liability for
failure to satisfy one or more of the applicable conditions contained in Section 5 or 6). The
Administrative Agent will give each Credit Agreement Party and each Lender prompt written notice
of the occurrence of the Restatement Effective Date.

          13.11 Headings Descriptive. The headings of the several sections and
subsections of this Agreement are inserted for convenience only and shall not in any way
affect
the meaning or construction of any provision of this Agreement.

          13.12
Amendment or Waiver; etc. (a) Neither this Agreement nor any other
Credit Document nor any terms hereof or thereof may be changed, waived, discharged or
terminated unless such change, waiver, discharge or termination is in writing signed by the
respective Credit Parties party thereto and the Required Lenders, provided that no
such change,
waiver, discharge or termination shall, without the consent of each Lender (other than a
Defaulting Lender) (with Obligations being directly affected thereby in the case of the
following
clause (i)), (i) extend the final scheduled maturity of any Loan or Note or extend the stated
maturity of any Letter of Credit or Bank Guaranty beyond the CL Maturity Date or extend the
duration of any Interest Period beyond six months, or reduce the rate or extend the time of
payment of interest (other than as a result of any waiver of the applicability of any
post-default
increase in interest rates) or Fees thereon, or reduce the principal amount thereof (except to
the
extent paid in cash) (it being understood that any amendment or modification to the financial
definitions in this Agreement shall not constitute a reduction in any rate of interest or fees
for
purposes of this clause (i), notwithstanding the fact that such amendment or modification
actually results in such a reduction), (ii) release all or substantially all of the Collateral
(except as
expressly provided in the Credit Documents) under all the Security Documents, (iii) amend,
modify or waive any provision of this Section 13.12 (except for technical amendments with

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respect to additional extensions of credit pursuant to this Agreement which afford the protections
to such additional extensions of credit of the type provided to the Term Loans and Credit-Linked
Commitments on the Restatement Effective Date), (iv) reduce the percentage specified in the
definition of Required Lenders (it being understood that, with the consent of the Required Lenders,
additional extensions of credit pursuant to this Agreement may be included in the determination of
the Required Lenders on substantially the same basis as the extensions of Term Loans and
Credit-Linked Commitments are included on the Restatement Effective Date), (v) consent to the
assignment or transfer by any Credit Agreement Party of any of its rights and obligations under
this Agreement, or (vi) release any Credit Agreement Party Guaranty or waive compliance by any
Credit Agreement Party with its payment obligations under its Credit Agreement Party Guaranty;
provided, further, that no such change, waiver, discharge or termination shall (p) amend,
modify or waive any condition precedent set forth in Section 6 with respect to the issuance of
Letters of Credit or Bank Guaranties, without the written consent of the Majority Lenders holding
Credit-Linked Commitments, (q) increase the Commitments of any Lender over the amount thereof then
in effect without the consent of such Lender (it being understood that waivers or modifications of
conditions precedent, covenants, Defaults or Events of Default or of a mandatory reduction in the
Total Commitment shall not constitute an increase of the Commitment of any Lender, and that an
increase in the available portion of any Commitment of any Lender shall not constitute an increase
in the Commitment of such Lender), (r) without the consent of each Issuing Lender affected and Bank
Guaranty Issuer thereby, amend, modify or waive any provision of Section 2 or alter its rights or
obligations with respect to Letters of Credit or Bank Guaranties, (s) without the consent of the
Administrative Agent, amend, modify or waive any provision of Section 12 as same applies to the
Administrative Agent or any other provision as same relates to the rights or obligations of the
Administrative Agent, (t) without the consent of each Agent affected thereby, amend, modify or
waive any provision of Section 12 as same applies to such Agent or any other provision as same
relates to the rights or obligations of such Agent, (u) without the consent of the Collateral
Agent, amend, modify or waive any provision relating to the rights or obligations of the Collateral
Agent, (v) except in cases where additional extensions of term loans are being afforded
substantially the same treatment afforded to the Term Loans pursuant to this Agreement as in effect
on the Restatement Effective Date, without the consent of the Majority Lenders of each Tranche
which is being allocated a lesser prepayment, repayment or commitment reduction as a result of the
actions described below, alter the required application of any prepayments or repayments (or
commitment reduction), as between the various Tranches, pursuant to Section 4.01 or 4.02 (excluding
Section 4.02(b)) (although the Required Lenders may waive, in whole or in part, any such
prepayment, repayment or commitment reduction, so long as the application, as amongst the various
Tranches, of any such prepayment, repayment or commitment reduction which is still required to be
made is not altered), (w) without the consent of the Majority Lenders of the respective Tranche
affected thereby, amend the definition of Majority Lenders (it being understood that, with the
consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be
included in the determination of the Majority Lenders on substantially the same basis as the
extensions of Loans and Commitments are included
on the Restatement Effective Date), (x) except in
cases where additional extensions of credit are being afforded substantially the same treatment
afforded to the Term Loans and Credit-Linked Commitments pursuant to Section 1.14 (as in effect on
the Restatement Effective Date) and except for technical amendments which are consistent with the
intent of the provisions of such

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Section and do not adversely affect the protections afforded to the Lenders pursuant to said
Section, without the consent of the Majority Lenders of each Tranche adversely affected thereby,
amend, modify or waive any provisions of Section 1.14; (y) without the consent of the Supermajority
Lenders of the respective affected Tranche, reduce the amount of or extend the date of, any
Scheduled Repayment under such Tranche (except that, if additional Loans are made pursuant to a
given Tranche, the Scheduled Repayments of such Tranche may be increased on a proportionate basis
without the consent otherwise required by this clause (y)), or amend the definition of
Supermajority Lenders (it being understood that, with the consent of the Required Lenders,
additional extensions of credit pursuant to this Agreement may be included in the determination of
the Supermajority Lenders on substantially the same basis as the extensions of Loans and
Commitments are included on the Restatement Effective Date) or (z) without the consent of (A) the
Deposit Bank, amend, modify or waive any provision relating to the rights or obligations of the
Deposit Bank or (B) the Intermediate Holdco Paying Agent, amend, modify or waive any provision
relating to the rights or obligations of the Intermediate Holdco Paying Agent. Notwithstanding
anything to the contrary contained above in this Section 13.12(a), the Administrative Agent and/or
the Collateral Agent shall be permitted (x) to enter into such amendments and/or modifications to
the Foreign Subsidiaries Guaranty and the Foreign Security Documents which may be required in the
discretion of the Administrative Agent and/or the Collateral Agent which are of a technical nature
and/or are, in the judgment of the Collateral Agent, required by applicable law, in the interests
of the Secured Creditors or (in the case of Foreign Security Documents) necessary or desirable to
preserve, maintain, perfect and/or protect the security interests purported to the granted by the
respective Foreign Security Documents and (y) to enter into such releases of Collateral pledged
pursuant to Foreign Security Documents as may be reasonably requested by the U.S. Borrower for
legitimate operational reasons (e.g., the transfer of Property from one jurisdiction to another),
so long as the Fair Market Value of all Collateral so subject to release (as determined in good
faith by the U.S. Borrower) at any time does not exceed $5,000,000.

          (b) If, in connection with any proposed change, waiver, discharge or termination of or to any
of the provisions of this Agreement as contemplated by clauses (i) through (v), inclusive, of the
first proviso to Section 13.12(a), the consent of the Required Lenders is obtained but the consent
of one or more of such other Lenders whose consent is required is not obtained, then Holdings
shall have the right, so long as all non-consenting Lenders whose individual consent is required
are treated as described in either clause (A) or (B) below, to either (A) replace each such
non-consenting Lender or Lenders (or, at the option of Holdings if the respective Lender’s consent
is required with respect to less than all Tranches (or related Commitments), to replace
only the respective Tranche or Tranches of Commitments (and related Obligations and, if
applicable, Credit-Linked Deposits) and/or Loans of the respective non-consenting Lender which
gave rise to the need to obtain such Lender’s individual consent) with one or more Replacement
Lenders pursuant to Section 1.13 so long as at the time of such replacement, each such Replacement
Lender consents to the proposed change, waiver, discharge or termination or (B) terminate each
Credit-Linked Commitment and/or Incremental Term Loan Commitment of such non-consenting Lender (if
such Lender’s consent is required as a result of such Credit-Linked Commitment and/or Incremental
Term Loan Commitment), and/or repay outstanding Obligations under each Tranche of such Lender
which gave rise to the need to obtain such Lender’s consent, in accordance with Sections 3.02(b)
and/or 4.01, provided that, unless the Commitments which are terminated and Loans and
other Obligations which are repaid pursuant

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to preceding clause (B) are immediately replaced in full at such time through the addition of new
Lenders or the increase of the Commitments and/or outstanding Loans and of existing Lenders (who
in each case must specifically consent thereto), then in the case of any action pursuant to
preceding clause (B), the Required Lenders (determined both (x) after giving effect to the
proposed action and (y) as if the Commitments, Loans and related Obligations being terminated
and/or repaid (and not replaced) were not outstanding) shall specifically consent thereto,
provided, further, that Holdings shall not have the right to replace a Lender, terminate
its Commitment or repay its Loans or other Obligations solely as a result of the exercise of such
Lender’s rights (and the withholding of any required consent by such Lender) pursuant to the
second proviso to Section 13.12(a).

          (c) Notwithstanding anything to the contrary contained in clause (a) above of
this Section 13.12, the respective Borrower, the Administrative Agent and each Incremental
Loan Lender may, in accordance with the provisions of Section 1.15, enter into an Incremental
Term Loan Commitment Agreement, provided that after the execution and delivery by the
respective Borrower, the Administrative Agent and each such Incremental Loan Lender of such
Incremental Term Loan Commitment Agreement, such Incremental Term Loan Commitment
Agreement may thereafter only be modified in accordance with the requirements of clause (a)
above of this Section 13.12.

          (d) For purposes of Section 13.12(a), (i) a Voting Participant shall be deemed
to be a “Lender” holding the portion of the Credit-Linked Commitment (and related
Obligations), Incremental Term Loan Commitment and/or outstanding Term Loans of a given
Tranche of any Lender (other than a Defaulting Lender) in which it purchased a participation
(and to have the voting rights of such Lender for the respective such Tranche) and (ii) a
Lender
(other than a Defaulting Lender) which has sold a participation in a portion of its
Credit-Linked
Commitment (and related Obligations), Incremental Term Loan Commitment and/or outstanding
Term Loans of any Tranche to a Voting Participant shall be deemed to hold a Credit-Linked
Commitment (and related Obligations), Incremental Term Loan Commitment or outstanding
Term Loans of the respective Tranche, as the case may be, in each case, as reduced by the
amount of the participations therein sold to a Voting Participant.

          13.13 Survival. All indemnities set forth herein including, without limitation, in
Sections 1.10, 1.11, 2A.06, 2B.06, 4.04, 12.07, 13.01 and 13.17, shall survive the execution
and
delivery of this Agreement, the making of the Loans and the issuance of the Letters of Credit
and
Bank Guaranties and repayment in full of the Loans and the other Obligations. With respect to
the Original Lenders and Original Agents, all indemnities set forth in the Original Credit
Agreement, including without limitation, in Sections 1.10, 1.11, 2A.06, 2B.06, 4.04, 12.07,
13.01
and 13.17 thereof shall survive the amendment and restatement of the Original Credit Agreement
pursuant to this Agreement and the repayment of any outstanding Obligations (as defined in the
Original Credit Agreement) thereunder, as fully as if same were set forth herein in their
entirety.

          13.14 Domicile of Loans and Commitments. Each Lender may transfer and
carry its Loans and/or Commitments at, to or for the account of any branch office, subsidiary
or
affiliate of such Lender. Notwithstanding anything to the contrary contained herein, to the
extent
that a transfer of Loans pursuant to this Section 13.14 would, at the time of such transfer,
result
in increased costs under Section 1.10, 1.11, 2A.06, 2B.06 or 4.04 from those being charged by

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the respective Lender prior to such transfer, then the Borrowers shall not be obligated to pay such
increased costs (although the Borrowers shall be obligated to pay any other increased costs of the
type described above resulting from changes after the date of the respective transfer).

          13.15
Confidentiality. (a) Each of the Lenders agrees that it will use its reasonable
efforts not to disclose without the prior consent of any Credit Agreement Party (other than to its
directors, employees, auditors, counsel or other professional advisors, to affiliates or to another
Lender if the Lender or such Lender’s holding or parent company in its sole discretion determines
that any such party should have access to such information) any information with respect to
Holdings or any of its Subsidiaries which is now or in the future furnished pursuant to this
Agreement; provided that any Lender may disclose any such information (a) as has become
generally available to the public, (b) as may be required or appropriate (x) in any report,
statement or testimony submitted to any municipal, state or Federal regulatory body having or
claiming to have jurisdiction over such Lender or to the Federal Reserve Board or the Federal
Deposit Insurance Corporation or similar organizations (whether in the United States or elsewhere)
or their successors or (y) in connection with any request or requirement of any such regulatory
body, (c) as may be required or appropriate in response to any summons or subpoena or in connection
with any litigation, (d) to comply with any law, order, regulation or ruling applicable to such
Lender, (e) to the extent reasonably required in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder and (f) to any creditor or any prospective transferee or participant in connection with
any contemplated transfer or participation of any of the Obligations or any interest therein by
such Lender; provided that such creditor or prospective transferee or participant agrees to
be bound by this Section 13.15 to the same extent as such Lender.

          (b) Each Credit Agreement Party hereby acknowledges and agrees that each
Lender may share with any of its affiliates or its investment advisors any information related
to
Holdings or any of its Subsidiaries (including, without limitation, any nonpublic customer
information regarding the creditworthiness of such entities), provided that such
Persons shall be
subject to the provisions of this Section 13.15 to the same extent as such Lender and shall
only
use such information in connection with matters relating to this Agreement.

          (c) Each Credit Agreement Party hereby represents and acknowledges that, to
the best of its knowledge, neither any Agent nor any Lender, nor any employees or agents of,
or
other persons affiliated with, any Agent or any Lender, have directly or indirectly made or
provided any statement (oral or written) to such Credit Agreement Party or to any of its
employees or agents, or other persons affiliated with or related to such Credit Agreement
Party
(or, so far as such Credit Agreement Party is aware, to any other person), as to the potential
tax
consequences of the Transaction.

          (d) Neither the Agents nor the Lenders provide accounting, tax or legal
advice. Notwithstanding any express or implied claims of exclusivity or proprietary rights,
each
Credit Agreement Party, each Agent and each Lender hereby agree and acknowledge that each
Credit Agreement Party, each Agent and each Lender (and each of their employees,
representatives or other agents) are authorized to disclose to any and all persons, beginning
immediately upon commencement of their discussions and without limitation of any kind, the tax

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treatment and tax structure of the Transaction, and all materials of any kind (including opinions
or other tax analyses) that are provided to any Credit Agreement Party, any Agent or any Lender
relating to such tax treatment and tax structure. In this regard, each Credit Agreement Party,
each Agent and each Lender acknowledge and agree that the disclosure of the tax treatment and tax
structure of the Transaction is not limited in any way by an express or implied understanding or
agreement, oral or written (whether or not such understanding or agreement is legally binding).
For purposes of this authorization, “tax” means United States Federal income tax, “tax treatment”
means the purported or claimed Federal income tax treatment of the transaction, and “tax
structure” means any fact that may be relevant to understanding the purported or claimed Federal
income tax treatment of the transaction. This paragraph is intended to reflect the understanding
of each Credit Agreement Party, each Agent and each Lender that the Transaction is not a
“confidential transaction” as that phrase is used in Treasury Regulation § 1.6011-4(b)(3)(i), and
shall be interpreted in a manner consistent therewith. Nothing herein is intended to imply that
any of each Credit Agreement Party, each Agent and each Lender made or provided a statement, oral
or written, to, or for the benefit of, any of each other as to any potential tax consequences that
are related to, or may result from, the Transaction.

          13.16 Waiver of Jury Trial. EACH OF THE PARTIES TO THIS
AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING
TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY.

          13.17 Register. The Borrowers hereby designate the Administrative Agent, and
the Administrative Agent agrees, to serve as the Borrowers’ agent, solely for purposes of this
Section 13.17, to maintain a register at one of its offices in New York, New York (the
“Register”) on which it will record the Commitments from time to time of each of the Lenders,
the Loans made by each of the Lenders and each repayment in respect of the principal amount of
the Loans of each Lender. Failure to make any such recordation, or any error in such
recordation
shall not affect the Borrowers’ obligations in respect of such Loans. With respect to any
Lender,
the transfer of the Commitments of such Lender and the rights to the principal of, and
interest on,
any Loan made pursuant to such Commitments shall not be effective until such transfer is
recorded on the Register maintained by the Administrative Agent with respect to ownership of
such Commitments and/or Loans prior to such recordation all amounts owing to the transferor
with respect to such Commitments and/or Loans shall remain owing to the transferor. The
registration of an assignment or transfer of all or part of any Commitments and/or Loans shall
be
recorded by the Administrative Agent on the Register only upon the acceptance by the
Administrative Agent of a properly executed and delivered Assignment and Assumption
Agreement pursuant to Section 13.04(b). Coincident with the delivery of such an Assignment
and Assumption Agreement to the Administrative Agent for acceptance and registration of
assignment or transfer of all or part of a Commitment and/or Loan, or as soon thereafter as
practicable, the assigning or transferor Lender shall surrender the Note evidencing such
Commitment and/or Loan, and thereupon one or more new Notes in the same aggregate principal
amount shall be issued to the assigning or transferor Lender and/or the new Lender. The
registration of any provision of Incremental Term Loan Commitments pursuant to Section 1.15
shall be recorded by the Administrative Agent on the Register only upon the acceptance of the
Administrative Agent of a properly executed and delivered Incremental Term Loan Commitment

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Agreement. Coincident with the delivery of such Incremental Term Loan Commitment Agreement for
acceptance and registration of the provision of an Incremental Term Loan Commitment, or as soon
thereafter as practicable, to the extent requested by such Incremental Term Loan Lenders,
Incremental Term Notes shall be issued, at the respective Borrower’s expense, to such Incremental
Term Loan Lenders, to be in conformity with Section 1.05 (with appropriate modification) to the
extent needed to reflect the Incremental Term Loan Commitments and outstanding Incremental Term
Loans made by such Incremental Term Loan Lender. The Borrowers agree to indemnify the
Administrative Agent from and against any and all losses, claims, damages and liabilities of
whatsoever nature that may be imposed on, asserted against or incurred by the Administrative Agent
in performing its duties under this Section 13.17.

          13.18 English Language. This Agreement and all other Credit Documents shall
be in the English language, except as required by applicable local law and, with respect to
each
of the Security Documents governed by the laws of Italy or otherwise related to Collateral
located in Italy, as the Administrative Agent may reasonably require (in which event certified
English translations thereof shall, upon the request of the Administrative Agent, be provided
by
Holdings to the Administrative Agent). All documents, certificates, reports or notices to be
delivered or communications to be given or made by any party hereto pursuant to the terms of
this Agreement or any other Credit Document shall be in the English language or, if originally
written in another language, shall, upon request of the Administrative Agent, be accompanied
by
an accurate English translation upon which the other parties hereto shall have the right to
rely for
all purposes of this Agreement and the other Credit Documents.

          13.19 Special Provisions Regarding Pledges of Equity Interests in, and
Promissory Notes Owed by, Persons Not Organized in Qualified Jurisdictions;
Special Provisions Regarding Foreign Security Documents and Secured
Hedge Counterparties. (a)
The
parties hereto acknowledge and agree that the provisions of the various Security Documents
executed and delivered by the Credit Parties require that, among other things, all promissory
notes executed by, and Equity Interests in, various Persons owned by the respective Credit
Party
(to the extent not constituting Excluded Collateral) be pledged, and delivered for pledge,
pursuant to the Security Documents. The parties hereto further acknowledge and agree that each
Credit Party shall be required to take all actions under the laws of the jurisdiction in which
such
Credit Party is organized to create and perfect all security interests granted pursuant to the
various Security Documents and to take all actions under the laws of each Qualified
Jurisdiction
to perfect the security interests in the Equity Interests of, and promissory notes issued by,
any
Person organized under the laws of said jurisdictions (in each case, to the extent said Equity
Interests or promissory notes are owned by any Credit Party and do not constitute Excluded
Collateral). Except as provided in the immediately preceding sentence, to the extent any
Security Document requires or provides for the pledge of promissory notes issued by, or Equity
Interests in, any Person organized under the laws of a jurisdiction other than those specified
in
the immediately preceding sentence, it is acknowledged that, as of the Restatement Effective
Date, no actions have been required to be taken to perfect, under local law of the
jurisdiction of
the Person who issued the respective promissory notes or whose Equity Interests are pledged,
under the Security Documents. The Credit Agreement Parties hereby agree that, following any
request by the Administrative Agent or Required Lenders to do so, each Credit Agreement Party
shall, and shall cause its Subsidiaries to, take such actions (including, without limitation,
the
execution of Additional Security Documents, the making of any filings and the delivery of

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appropriate legal opinions) under the local law of any jurisdiction with respect to which such
actions have not already been taken as are determined by the Administrative Agent or Required
Lenders to be necessary or desirable in order to fully perfect, preserve or protect the security
interests granted pursuant to the various Security Documents under the laws of such jurisdictions.
If requested to do so pursuant to this Section 13.19(a), all such actions shall be taken in
accordance with the provisions of this Section 13.19(a) and Section 8.11 and within the time
periods set forth therein. All conditions and representations contained in this Agreement and the
other Credit Documents shall be deemed modified to the extent necessary to effect the foregoing and
so that same are not violated by reason of the failure to take actions under local law (but only
with respect to Equity Interests in, and promissory notes issued by, Persons organized under laws
of jurisdictions other than Qualified Jurisdictions) not required to be taken in accordance with
the provisions of this Section 13.19(a), provided that to the extent any representation or
warranty would not be true because the foregoing actions were not taken, the respective
representation of warranties shall be required to be true and correct in all material respects at
such time as the respective action is required to be taken in accordance with the foregoing
provisions of this Section 13.19(a) or pursuant to Section 8.11.

          (b) The parties hereto acknowledge and agree that certain Foreign Security Documents executed
and delivered by the Credit Parties on or prior to the Restatement Effective Date secure, inter
alia, obligations of any Lender (or any affiliate of a Lender) which is a counterparty to certain
Interest Rate Protection Agreements and Other Hedging Agreements (as further provided in each such
Foreign Security Document) and that it is the parties intent that each such Foreign Security
Document shall be amended, as provided in Article III of the Foreign Subsidiaries Guaranty
Amendment and Acknowledgement, such that (after giving effect to such amendment) the foregoing
secured counterparties shall be amended to include the Secured Hedge Counterparties.
Notwithstanding the foregoing, the parties hereto further acknowledge and agree that, as of the
Restatement Effective Date, no other amendments, modifications or supplements to the foregoing
Foreign Security Documents under the laws of any jurisdiction to effect the intent in the foregoing
sentence have occurred. The Credit Agreement Parties hereby agree that, within 90 days after the
Restatement Effective Date (or such longer period as may be agreed by the Administrative Agent),
each Credit Agreement Party shall, and shall cause its Subsidiaries to, take such actions
(including, without limitation, amending, modifying or supplementing each such Foreign Security
Document and the delivery of appropriate legal opinions) under the local law of any jurisdiction
with respect to which such actions have not already been taken as are determined by the
Administrative Agent or Required Lenders to be necessary or desirable in order to effect the
foregoing amendments to each such Foreign Security Document. All conditions and representations
contained in this Agreement and the other Credit Documents shall be deemed modified to the extent
necessary to effect the foregoing and so that same are not violated by reason of the failure to
take actions under local law not required to be taken in accordance with the provisions of this
Section 13.19(b), provided that to the extent any representation or warranty would not be
true because the foregoing actions were not taken, the respective representation of warranties
shall be required to be true and correct in all material respects at such time as the respective
action is required to be taken in accordance with the foregoing provisions of this Section 13.19(b)
or pursuant to Section 8.11.

          13.20 Powers of Attorney; etc. Each of Holdings and the U.S. Borrower is hereby
authorized by, and on behalf of, the Bermuda Borrower to give Notices of Borrowing,

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Notices of Conversion and other notices and directions in connection with the extensions of credit
and repayments thereof to be made pursuant to this Agreement to the Bermuda Borrower (including
without limitation notices as to the application of proceeds of such extensions of credit). The
Bermuda Borrower hereby grants to Holdings and the U.S. Borrower an irrevocable power-of attorney,
in the Bermuda Borrower’s name, to take the actions contemplated above in this Section 13.20 and
in the last sentence of Section 1.13 hereof. Furthermore, the Bermuda Borrower agrees that the
Agents and the Lenders may at any time rely upon any notices, instructions or other information
furnished by Holdings or the U.S. Borrower.

          13.21 Waiver of Sovereign Immunity. Each of the Credit Agreement Parties, in
respect of itself, its Subsidiaries, its process agents, and its properties and revenues,
hereby
irrevocably agrees that, to the extent that such Credit Agreement Party, its Subsidiaries or
any of
its properties has or may hereafter acquire any right of immunity, whether characterized as
sovereign immunity or otherwise, from any legal proceedings, whether in the United States, any
other Qualified Jurisdiction or elsewhere, to enforce or collect upon the Loans or any Credit
Document or any other liability or obligation of such Credit Agreement Party or any of its
Subsidiaries related to or arising from the transactions contemplated by any of the Credit
Documents, including, without limitation, immunity from service of process, immunity from
jurisdiction or judgment of any court or tribunal, immunity from execution of a judgment, and
immunity of any of its property from attachment prior to any entry of judgment, or from
attachment in aid of execution upon a judgment, such Credit Agreement Party, for itself and on
behalf of its Subsidiaries, hereby expressly waives, to the fullest extent permissible under
applicable law, any such immunity, and agrees not to assert any such right or claim in any
such
proceeding, whether in the United States, any other Qualified Jurisdiction, or elsewhere.
Without limiting the generality of the foregoing, each Credit Agreement Party further agrees
that
the waivers set forth in this Section 13.21 shall have the fullest extent permitted under the
Foreign Sovereign Immunities Act of 1976 of the United States and are intended to be
irrevocable for purposes of such Act.

          13.22
Judgment Currency. (a) The Credit Parties’ obligations hereunder and
under the other Credit Documents to make payments in Dollars (or, in the case of a Letter of
Credit denominated in an Alternative Currency, the Dollar Equivalent thereof) (the
“Obligation Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any
judgment expressed in or converted into any currency other than the Obligation Currency,
except
to the extent that such tender or recovery results in the effective receipt by any Agent or
the
respective Lender of the full amount of the Obligation Currency expressed to be payable to the
such Agent or such Lender under this Agreement or the other Credit Documents. If for the
purpose of obtaining or enforcing judgment against any Credit Party in any court or in any
jurisdiction, it becomes necessary to convert into or from any currency other than the
Obligation
Currency (such other currency being hereinafter referred to as the “Judgment Currency”) an
amount due in the Obligation Currency, the conversion shall be made at the Dollar Equivalent
thereof, and, in the case of other currencies, the rate of exchange (as quoted by the
Administrative Agent or if the Administrative Agent does not quote a rate of exchange on such
currency, by a known dealer in such currency designated by the Administrative Agent)
determined, in each case, as of the day on which the judgment is given (such day being
hereinafter referred to as the “Judgment Currency Conversion Date”).

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          (b) If there is a change in the rate of exchange prevailing between the
Judgment Currency Conversion Date and the date of actual payment of the amount due, the
Borrower covenants and agrees to pay, or cause to be paid, such additional amounts, if any
(but
in any event not a lesser amount), as may be necessary to ensure that the amount paid in the
Judgment Currency, when converted at the rate of exchange prevailing on the date of payment,
will produce the amount of the Obligation Currency which could have been purchased with the
amount of Judgment Currency stipulated in the judgment or judicial award at the rate or
exchange prevailing on the Judgment Currency Conversion Date.

          (c) For purposes of determining the Dollar Equivalent or any other rate of
exchange for this Section 13.22, such amounts shall include any premium and costs payable in
connection with the purchase of the Obligation Currency.

          13.23 Special Acknowledgments. By their execution and delivery hereof, the
Lenders party hereto hereby acknowledge (i) that the guarantee of each Bermuda Partnership
Partner made pursuant to the U.S. Subsidiaries Guaranty is limited to the Obligations of the
U.S.
Borrower under the Credit Documents and the obligations of the U.S. Borrower and its Domestic
Subsidiaries under Interest Rate Protection Agreements and Other Hedging Agreements with
Secured Hedge Counterparties, all on the terms as more specifically provided therein, (ii) the
Bermuda Partnership has not entered into any Credit Documents and, as such, is not a Credit
Party (but is otherwise subject to the provisions of Section 9.01(c)) and (iii) the
obligations
secured pursuant to the Security Documents are not secured by any Excluded Collateral.

          13.24
Special Provisions Relating to Amendment and Restatement. (a) The
Required Lenders under, and as defined in, the Original Credit Agreement hereby consent to the
“refinancing indebtedness” under this Agreement being treated as “indebtedness pursuant to the
Credit Agreement” for purposes of the U.S. Pledge Agreement and the Intercompany
Subordination Agreement. The U.S. Borrower, for its part, hereby gives notice that the
refinancing indebtedness under this Agreement shall be treated as “issued under the Credit
Agreement” for purposes of the U.S. Pledge Agreement and the Intercompany Subordination
Agreement.

          (b) The parties hereto acknowledge and agree that:

     (i) Holdings and its Subsidiaries (as defined in the Original Credit Agreement)
executed and delivered the Security Documents (as defined in the Original Credit Agreement)
in favor of the Collateral Agent on behalf of the Secured Creditors (as defined in the
Original Credit Agreement) to secure the payment and performance of,
inter alia,
the Obligations (as defined in the respective such Security Documents);

     (ii) the security interests granted to the Collateral Agent on behalf of the Secured
Creditors pursuant to the Security Documents (as defined in the Original Credit Agreement)
shall remain outstanding and in full force and effect, without interruption or impairment
of any kind, but subject to the provisions of the Intercreditor Agreement, in accordance
with the terms of such Security Documents and shall continue to secure the Obligations (as
defined in such Security Documents);

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     (iii) the Obligations represent, among other things, the amendment, restatement,
renewal, extension, consolidation and modification of the Obligations (as defined in the
Original Credit Agreement) arising in connection with the Original Credit Agreement and
other Credit Documents (as defined in the Original Credit Agreement) executed in connection
therewith; and

     (iv) the provisions of the Original Credit Agreement, to the extent restated, renewed,
extended, consolidated, amended and modified hereby, are hereby superseded and replaced by
the provisions hereof; (b) the Notes restate, renew, extend, consolidate, amend, modify,
replace, are substituted for and supersede, but do not extinguish, the Obligations (as
defined in the Original Credit Agreement) evidenced by the Notes (as defined in the Original
Credit Agreement) issued pursuant to the Original Credit Agreement; and (c) the execution
and delivery of this Agreement, and the performance by Credit Agreement Parties of their
respective obligations hereunder shall not constitute a novation.

          13.25 USA Patriot Act. Each Lender subject to the USA PATRIOT ACT (Title
111 of Pub. L. 107-56 (signed into law October 26, 2001)) hereby notifies each Credit
Agreement Party that pursuant to the requirements of the Act, it is required to obtain, verify
and
record information that identifies the Credit Agreement Parties and the other Credit Parties
and
other information that will allow such Lender to identify the Credit Agreement Parties and the
other Credit Parties in accordance with the Act.

          13.26
Other Liens on Collateral; Terms of Intercreditor Agreement; Etc. (a)
EACH LENDER HERETO UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT
LIENS SHALL BE CREATED ON THE COLLATERAL PURSUANT TO THE ABL CREDIT
AGREEMENT AND THE ABL CREDIT DOCUMENTS (AS DEFINED THEREIN), WHICH
LIENS (x) TO THE EXTENT CREATED WITH RESPECT TO ABL PRIORITY
COLLATERAL, SHALL BE SENIOR TO THE LIENS CREATED UNDER THIS
AGREEMENT AND THE RELATED CREDIT DOCUMENTS (WITH THE LIENS SO
CREATED HEREUNDER AND UNDER THE OTHER CREDIT DOCUMENTS ON ABL
PRIORITY COLLATERAL BEING SUBORDINATED TO SUCH LIENS PURSUANT TO
THE TERMS OF THE INTERCREDITOR AGREEMENT) AND (Y) TO THE EXTENT
CREATED WITH RESPECT TO TL PRIORITY COLLATERAL, SHALL BE REQUIRED TO
BE SUBJECT TO THE SUBORDINATION PROVISIONS (TO THE EXTENT
APPLICABLE) OF THE INTERCREDITOR AGREEMENT. THE INTERCREDITOR
AGREEMENT ALSO HAS OTHER PROVISIONS WHICH ARE BINDING UPON THE
LENDERS AND THE SECURED HEDGE COUNTERPARTIES PURSUANT TO THIS
AGREEMENT. PURSUANT TO THE EXPRESS TERMS OF SECTION 13.26 OF THE
INTERCREDITOR AGREEMENT, IN THE EVENT OF ANY CONFLICT BETWEEN THE
TERMS OF THE INTERCREDITOR AGREEMENT AND ANY OF THE CREDIT
DOCUMENTS, THE PROVISIONS OF THE INTERCREDITOR AGREEMENT SHALL
GOVERN AND CONTROL.

          (b) EACH LENDER AUTHORIZES AND INSTRUCTS THE COLLATERAL AGENT AND THE ADMINISTRATIVE AGENT TO
ENTER INTO THE INTERCREDITOR AGREEMENT ON BEHALF OF THE LENDER, AND TO TAKE ALL

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ACTIONS (AND EXECUTE ALL DOCUMENTS) REQUIRED (OR DEEMED ADVISABLE) BY IT IN ACCORDANCE WITH THE
TERMS OF THE INTERCREDITOR AGREEMENT.

          (c) THE PROVISIONS OF THIS SECTION 13.26 ARE NOT INTENDED TO SUMMARIZE ALL RELEVANT
PROVISIONS OF THE INTERCREDITOR AGREEMENT, THE FORM OF WHICH IS ATTACHED AS AN EXHIBIT TO THIS
AGREEMENT. REFERENCE MUST BE MADE TO THE INTERCREDITOR AGREEMENT ITSELF TO UNDERSTAND ALL TERMS
AND CONDITIONS THEREOF. EACH LENDER IS RESPONSIBLE FOR MAKING ITS OWN ANALYSIS AND REVIEW OF THE
INTERCREDITOR AGREEMENT AND THE TERMS AND PROVISIONS THEREOF, AND NO AGENT (AND NONE OF ITS
AFFILIATES) MAKES ANY REPRESENTATION TO ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE
PROVISIONS CONTAINED IN THE INTERCREDITOR AGREEMENT. EACH LENDER IS FURTHER AWARE THAT THE
ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT IS ALSO ACTING IN AN ADMINISTRATIVE AND COLLATERAL
AGENCY CAPACITY UNDER, AND AS DEFINED IN, THE ABL CREDIT AGREEMENT AND THE ABL CREDIT DOCUMENTS
(AS DEFINED THEREIN), AND LENDER HEREBY IRREVOCABLY WAIVES ANY OBJECTION THERETO OR CAUSE OF
ACTION ARISING THEREFROM.

          13.27 Post-Closing Actions. Notwithstanding anything to the contrary contained in
this Agreement or the other Credit Documents, the parties hereto acknowledge and agree that:

     1. Real Property. The actions relating to the Mortgages and Real Property of
Holdings and its Subsidiaries described on Part A of Schedule XVIII shall be completed
in accordance with Part A of said Schedule XVIII.

     2. Actions by Various Foreign Subsidiaries Relating to Security Documents.
Holdings and its Subsidiaries shall be required to take the actions specified in Part B
of
Schedule XVIII as promptly as practicable, and in any event within the time periods set
forth in Part B of said Schedule XVIII. The provisions of Part B of said Schedule XVIII
shall be deemed incorporated by reference herein as fully as if set forth herein in its
entirety.

     3. Miscellaneous Actions By Various Subsidiaries of Holdings. Holdings
and its Subsidiaries shall be required to take the actions specified in Part C of
Schedule
XVIII as promptly as practicable, and in any event within the time periods set forth in
Part C of said Schedule XVIII. The provisions of Part C of said Schedule XVIII shall be
deemed incorporated by reference herein as fully as if set forth herein in its
entirety.

All provisions of this Credit Agreement and the other Credit Documents (including, without
limitation, all conditions precedent, representations, warranties, covenants, events of default
and other agreements herein and therein) shall be deemed modified to the extent necessary to
effect the foregoing (and to permit the taking of the actions described above within the time
periods required above, rather than as otherwise provided in the Credit Documents);
provided that (x) to the extent any representation and warranty would not be true because
the foregoing actions were not taken on the Restatement Effective Date the respective
representation and warranty shall be

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required to be true and correct in all material respects at the time the respective action is
taken (or was required to be taken) in accordance with the foregoing provisions of this Section
13.27 and (y) all representations and warranties relating to the Security Documents shall be
required to be true immediately after the actions required to be taken by this Section 13.27 have
been taken (or were required to be taken). The acceptance of the benefits of each Credit Event
shall constitute a covenant and agreement by each Credit Agreement Party to each of the Lenders
that the actions required pursuant to this Section 13.27 will be, or have been, taken within the
relevant time periods referred to in this Section 13.27 and that, at such time, all
representations and warranties contained in this Credit Agreement and the other Credit Documents
shall then be true and correct without any modification pursuant to this Section 13.27. The
parties hereto acknowledge and agree that the failure to take any of the actions required above,
within the relevant time periods required above, shall give rise to an immediate Event of Default
pursuant to this Agreement.

          Section 14. Credit Agreement Party Guaranty.

          14.01 The Guaranty. In order to induce the Lenders to enter into this Agreement and to
extend credit hereunder and to induce the Secured Hedge Counterparties to enter into Interest Rate
Protection Agreements or Other Hedging Agreements, and in recognition of the direct benefits to be
received by each Credit Agreement Party from the proceeds of the Loans, the issuance of the Letters
of Credit and Bank Guaranties the entering into of Interest Rate Protection Agreements or Other
Hedging Agreements, each Credit Agreement Party hereby agrees with the Lenders and the Secured
Hedge Counterparties as follows: each Credit Agreement Party hereby unconditionally and irrevocably
guarantees, as primary obligor and not merely as surety the full and prompt payment when due,
whether upon maturity, acceleration or otherwise, of any and all of its Relevant Guaranteed
Obligations to the Guaranteed Creditors. If any or all of the Relevant Guaranteed Obligations of
any Credit Agreement Party to the Guaranteed Creditors becomes due and payable hereunder, each
Credit Agreement Party unconditionally promises to pay such indebtedness to the Guaranteed
Creditors, or order, on demand, together with any and all expenses which may be incurred by the
Guaranteed Creditors in collecting any of the Relevant Guaranteed Obligations. This Credit
Agreement Party Guaranty is a guaranty of payment and not of collection. This Credit Agreement
Party Guaranty is a continuing one and all liabilities to which it applies or may apply under the
terms hereof shall be conclusively presumed to have been created in reliance hereon. If claim is
ever made upon any Guaranteed Creditor for repayment or recovery of any amount or amounts received
in payment or on account of any of the Relevant Guaranteed Obligations and any of the aforesaid
payees repays all or part of said amount by reason of (i) any judgment, decree or order of any
court or administrative body having jurisdiction over such payee or any of its property or (ii) any
settlement or compromise of any such claim effected by such payee with any such claimant (including
any Relevant Guaranteed Party), then and in such event the respective Credit Agreement Party agrees
that any such judgment, decree, order, settlement or compromise shall be binding upon such Credit
Agreement Party, notwithstanding any revocation of this Credit Agreement Party Guaranty or any
other instrument evidencing any liability of any Relevant Guaranteed Party, and each Credit
Agreement Party shall be and remain liable to the aforesaid payees hereunder for the amount so
repaid or recovered to the same extent as if such amount had never originally been received by any
such payee.

-232-

 

          14.02 Bankruptcy. Additionally, each Credit Agreement Party unconditionally
and irrevocably guarantees the payment of any and all of the Relevant Guaranteed Obligations
to
the Guaranteed Creditors whether or not due or payable by any Relevant Guaranteed Party upon
the occurrence of any of the events specified in Section 10.05, and unconditionally promises
to
pay such indebtedness to the Guaranteed Creditors, or order, on demand.

          14.03 Nature of Liability. The liability of each Credit Agreement Party
hereunder is exclusive and independent of any security for or other guaranty of the Relevant
Guaranteed Obligations whether executed by such Credit Agreement Party, any other guarantor
or by any other party, and the liability of each Credit Agreement Party hereunder is not
affected
or impaired by (a) any direction as to application of payment by any Relevant Guaranteed Party
or any other party, or (b) any other continuing or other guaranty, undertaking or maximum
liability of a guarantor or of any other party as to the Relevant Guaranteed Obligations, or
(c) any
payment on or in reduction of any such other guaranty or undertaking, or (d) any dissolution,
termination or increase, decrease or change in personnel by any Relevant Guaranteed Party, or
(e) any payment made to the Guaranteed Creditors on the Relevant Guaranteed Obligations
which any such Guaranteed Creditor repays to any Relevant Guaranteed Party pursuant to court
order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief
proceeding, and each Credit Agreement Party waives any right to the deferral or modification
of
its obligations hereunder by reason of any such proceeding, or (f) any action or inaction of
the
type described in Section 14.05, or (g) the lack of validity or enforceability of any Credit
Document or any other instrument relating thereto.

          14.04 Independent Obligation. No invalidity, irregularity or unenforceability of
all or any part of the Relevant Guaranteed Obligations or of any security therefor shall
affect,
impair or be a defense to this Credit Agreement Party Guaranty, and this Credit Agreement
Party
Guaranty shall be primary, absolute and unconditional notwithstanding the occurrence of any
event or the existence of any other circumstances which might constitute a legal or equitable
discharge of, or a defense available to, a surety or guarantor except indefeasible payment in
full
in cash of the Relevant Guaranteed Obligations. The obligations of each Credit Agreement Party
hereunder are independent of the obligations of any Relevant Guaranteed Party, any other
guarantor or any other party and a separate action or actions may be brought and prosecuted
against any Credit Agreement Party whether or not action is brought against any Relevant
Guaranteed Party, any other guarantor or any other party and whether or not any Relevant
Guaranteed Party, any other guarantor or any other party be joined in any such action or
actions.
Each Credit Agreement Party waives, to the full extent permitted by law, the benefit of any
statute of limitations affecting its liability hereunder or the enforcement thereof. Any
payment
by any Relevant Guaranteed Party or other circumstance that operates to toll any statute of
limitations as to such Relevant Guaranteed Party shall operate to toll the statute of
limitations as
to the relevant Credit Agreement Party.

          14.05 Authorization. Each Credit Agreement Party authorizes the Guaranteed
Creditors without notice or demand (except as shall be required by applicable statute and
cannot
be waived), and without affecting or impairing its liability hereunder, from time to time to:

     (a) change the manner, place or terms of payment of, and/or change or extend the
time of payment of, renew, increase, accelerate or alter, any of the Relevant

-233-

 

Guaranteed Obligations (including any increase or decrease in the rate of interest
thereon), any security therefor, or any liability incurred directly or indirectly in
respect thereof, and this Credit Agreement Party Guaranty shall apply to the Relevant
Guaranteed Obligations as so changed, extended, renewed, increased or altered;

     (b) take and hold security for the payment of the Relevant Guaranteed
Obligations and sell, exchange, release, impair, surrender, realize upon or otherwise
deal
with in any manner and in any order any property by whomsoever at any time pledged or
mortgaged to secure, or howsoever securing, the Relevant Guaranteed Obligations or any
liabilities (including any of those hereunder) incurred directly or indirectly in
respect
thereof or hereof, and/or any offset thereagainst;

     (c) exercise or refrain from exercising any rights against any Relevant
Guaranteed Party or others or otherwise act or refrain from acting;

     (d) release or substitute any one or more endorsers, guarantors, any Relevant
Guaranteed Party or other obligors;

     (e) settle or compromise any of the Relevant Guaranteed Obligations, any
security therefor or any liability (including any of those hereunder) incurred directly
or
indirectly in respect thereof or hereof, and may subordinate the payment of all or any
part
thereof to the payment of any liability (whether due or not) of any Relevant Guaranteed
Party to their respective creditors other than the Guaranteed Creditors;

     (f) apply any sums by whomsoever paid or howsoever realized to any liability
or liabilities of any Relevant Guaranteed Party to the Guaranteed Creditors regardless
of
what liability or liabilities of such Relevant Guaranteed Party remain unpaid;

     (g) consent to or waive any breach of, or any act, omission or default under,
this Agreement, any other Credit Document, any Interest Rate Protection Agreement or
Other Hedging Agreement or any of the instruments or agreements referred to herein or
therein, or otherwise amend, modify or supplement this Agreement, any other Credit
Document, any Interest Rate Protection Agreement or Other Hedging Agreement or any
of such other instruments or agreements; and/or

     (h) take any other action that would, under otherwise applicable principles of common
law, give rise to a legal or equitable discharge of, or a defense available to, such Credit
Agreement Party from its liabilities under this Credit Agreement Party Guaranty.

          14.06 Reliance. It is not necessary for the Guaranteed Creditors to inquire into
the capacity or powers of any Relevant Guaranteed Party or the officers, directors, partners
or
agents acting or purporting to act on their behalf, and any Relevant Guaranteed Obligations
made
or created in reliance upon the professed exercise of such powers shall be guaranteed
hereunder.

          14.07 Subordination. Any of the indebtedness of any Relevant Guaranteed Party
now or hereafter owing to any Credit Agreement Party is hereby subordinated to the Relevant
Guaranteed Obligations of such Relevant Guaranteed Party owing to the Guaranteed Creditors;
and if the Administrative Agent so requests at a time when an Event of Default exists, all
such

-234-

 

indebtedness of such Relevant Guaranteed Party to such Credit Agreement Party shall be collected,
enforced and received by such Credit Agreement Party in trust for the benefit of the Guaranteed
Creditors and be paid over to the Administrative Agent on behalf of the Guaranteed Creditors on
account of the Relevant Guaranteed Obligations of such Relevant Guaranteed Party to the Guaranteed
Creditors, but without affecting or impairing in any manner the liability of any Credit Agreement
Party under the other provisions of this Credit Agreement Party Guaranty. Prior to the transfer by
any Credit Agreement Party of any note or negotiable instrument evidencing any of the indebtedness
of any Relevant Guaranteed Party to such Credit Agreement Party, such Credit Agreement Party shall
mark such note or negotiable instrument with a legend that the same is subject to this
subordination. Without limiting the generality of the foregoing, each Credit Agreement Party
hereby agrees with the Guaranteed Creditors that it will not exercise any right of subrogation
which it may at any time otherwise have as a result of this Credit Agreement Party Guaranty
(whether contractual, under Section 509 of the Bankruptcy Code or otherwise) until all Relevant
Guaranteed Obligations have been irrevocably paid in full in cash.

          14.08
Waiver. (a) Each Credit Agreement Party waives any right (except as shall be
required by applicable statute and cannot be waived) to require any Guaranteed Creditor to (i)
proceed against any other Relevant Guaranteed Party, any other guarantor or any other party, (ii)
proceed against or exhaust any security held from any Relevant Guaranteed Party, any other
guarantor or any other party or (iii) pursue any other remedy in any Guaranteed Creditor’s power
whatsoever. Each Credit Agreement Party waives any defense based on or arising out of any defense
of any Relevant Guaranteed Party, any other guarantor or any other party, other than indefeasible
payment in full in cash of the Relevant Guaranteed Obligations, based on or arising out of the
disability of any Relevant Guaranteed Party, any other guarantor or any other party, or the
unenforceability of the Relevant Guaranteed Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of any Relevant Guaranteed Party other than indefeasible
payment in full in cash of the Relevant Guaranteed Obligations. The Guaranteed Creditors may, at
their election, foreclose on any security held by the Administrative Agent, the Collateral Agent or
any other Guaranteed Creditor by one or more judicial or nonjudicial sales, whether or not every
aspect of any such sale is commercially reasonable (to the extent such sale is permitted by
applicable law), or exercise any other right or remedy the Guaranteed Creditors may have against
any Relevant Guaranteed Party or any other party, or any security, without affecting or impairing
in any way the liability of any Credit Agreement Party hereunder except to the extent the Relevant
Guaranteed Obligations have been indefeasibly paid in full in cash. Each Credit Agreement Party
waives any defense arising out of any such election by the Guaranteed Creditors, even though such
election operates to impair or extinguish any right of reimbursement or subrogation or other right
or remedy of such Credit Agreement Party against any Relevant Guaranteed Party or any other party
or any security.

          (b) Each Credit Agreement Party waives all presentments, demands for performance, protests
and notices, including, without limitation, notices of nonperformance, notices of protest, notices
of dishonor, notices of acceptance of this Credit Agreement Party Guaranty, and notices of the
existence, creation or incurring of new or additional Relevant Guaranteed Obligations. Each Credit
Agreement Party assumes all responsibility for being and keeping itself informed of each Relevant
Guaranteed Party’s financial condition and assets, and of all other circumstances bearing upon the
risk of nonpayment of the Relevant Guaranteed

-235-

 

Obligations and the nature, scope and extent of the risks which such Credit Agreement Party
assumes and incurs hereunder, and agrees that the Guaranteed Creditors shall have no duty to
advise any Credit Agreement Party of information known to them regarding such circumstances or
risks.

          (c) Until such time as the Relevant Guaranteed Obligations have been paid in
full in cash, each Credit Agreement Party hereby waives all rights of subrogation which it may
at
any time otherwise have as a result of this Credit Agreement Party Guaranty (whether
contractual, under Section 509 of the Bankruptcy Code, or otherwise) to the claims of the
Guaranteed Creditors against any Relevant Guaranteed Party or any other guarantor of the
Relevant Guaranteed Obligations and all contractual, statutory or common law rights of
reimbursement, contribution or indemnity from any Relevant Guaranteed Party or any other
guarantor which it may at any time otherwise have as a result of this Credit Agreement Party
Guaranty.

          (d) Each U.S. Credit Agreement Party hereby acknowledges and affirms that
it understands that to the extent the Relevant Guaranteed Obligations are secured by Real
Property located in California, such U.S. Credit Agreement Party shall be liable for the full
amount of the liability hereunder notwithstanding the foreclosure on such Real Property by
trustee sale or any other reason impairing such U.S. Credit Agreement Party’s or any
Guaranteed
Creditor’s right to proceed against any Relevant Guaranteed Party or any other guarantor of
the
Relevant Guaranteed Obligations. In accordance with Section 2856 of the California Code of
Civil Procedure, each U.S. Credit Agreement Party hereby waives:

     (i) all rights of subrogation, reimbursement, indemnification, and contribution and
any other rights and defenses that are or may become available to such U.S. Credit
Agreement Party by reason of Sections 2787 to 2855, inclusive, 2899 and 3433 of the
California Code of Civil Procedure;

     (ii) all rights and defenses that such U.S. Credit Agreement Party may have because
the Relevant Guaranteed Obligations are secured by Real Property located in California,
meaning, among other things, that: (A) the Guaranteed Creditors may collect from such U.S.
Credit Agreement Party without first foreclosing on any real or personal property
collateral pledged by any Credit Party, and (B) if the Guaranteed Creditors foreclose on
any Real Property collateral pledged by any Credit Party, (1) the amount of the Relevant
Guaranteed Obligations may be reduced only by the price for which that collateral is sold
at the foreclosure sale, even if the collateral is worth more than the sale price, and (2)
the Guaranteed Creditors may collect from such U.S. Credit Agreement Party even if the
Guaranteed Creditors, by foreclosing on the Real Property collateral, have destroyed any
right such U.S. Credit Agreement Party may have to collect from any Relevant Guaranteed
Party, it being understood that this is an unconditional and irrevocable waiver of any
rights and defenses such U.S. Credit Agreement Party may have because the Relevant
Guaranteed Obligations are secured by Real Property (including, without limitation, any
rights or defenses based upon Section 580a, 580d or 726 of the California Code of Civil
Procedure); and

-236-

 

     (iii) all rights and defenses arising out of an election of remedies by the Guaranteed
Creditors, even though that election of remedies, such as a nonjudicial foreclosure with
respect to security for the Relevant Guaranteed Obligations, has destroyed such U.S. Credit
Agreement Party’s rights of subrogation and reimbursement against any Relevant Guaranteed
Party by the operation of Section 580d of the California Code of Civil Procedure or
otherwise.

          (e) Each Credit Agreement Party warrants and agrees that each of the waivers set forth above
is made with full knowledge of its significance and consequences and that if any of such waivers
are determined to be contrary to any applicable law of public policy, such waivers shall be
effective only to the maximum extent permitted by law.

          14.09 Payments. All payments made by a Credit Agreement Party pursuant to this
Section 14 shall be made in the respective Applicable Currency in which the Relevant Guaranteed
Obligations are then due and payable (giving effect, in the circumstances contemplated by Section
1.14, to any conversion occurring pursuant thereto). All payments made by a Credit Agreement Party
pursuant to this Section 14 will be made without setoff, counterclaim or other defense, and shall
be subject to the provisions of Sections 4.03, 4.04 and 13.22.

* * * *

-237-

 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Agreement as of the date first above written.

	 	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	DHM HOLDING COMPANY, INC.	 	 
	Westlake Village, CA 91362
	 	 	 	 	 	 
	Telephone No.: (818) 879-6810
	 	By
	 	/s/ Beth Potillo	 	 
	Facsimile No.: (818) 879-6754
	 	 	 	 

Name: Beth Potillo
	 	 
	Attention: Michael Carter
	 	 	 	Title:   VP	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	DOLE HOLDING COMPANY, LLC	 	 
	Westlake Village, CA 91362
	 	 	 	 	 	 
	Telephone No.: (818) 879-6810
	 	By
	 	/s/ Beth Potillo	 	 
	Facsimile No.: (818) 879-6754
	 	 	 	 

Name: Beth Potillo
	 	 
	Attention: Michael Carter
	 	 	 	Title:   VP	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	DOLE FOOD COMPANY, INC.	 	 
	Westlake Village, CA 91362
	 	 	 	 	 	 
	Telephone No.: (818) 879-6810
	 	By
	 	/s/ Beth Potillo	 	 
	Facsimile No.: (818) 879-6754
	 	 	 	 

Name: Beth Potillo
	 	 
	Attention: Michael Carter
	 	 	 	Title:   VP	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	SOLVEST, LTD.	 	 
	Westlake Village, CA 91362
	 	 	 	 	 	 
	Telephone No.: (818) 879-6810
	 	By
	 	/s/ Beth Potillo	 	 
	Facsimile No.: (818) 879-6754
	 	 	 	 

Name: Beth Potillo
	 	 
	Attention: Michael Carter
	 	 	 	Title:   VP	 	 

Dole 2008 Amended & Recorded Credit Agreement

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, Individually and as Administrative Agent

 	 
	 	By:  	/s/ Marguerite Sutton 	 
	 	 	Name:  	Marguerite Sutton 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/ Evelyn Thierry
 	 
	 	 	Name:  	Evelyn Thierry 	 
	 	 	Title:  	Vice President	 
	 
	 	DEUTSCHE BANK SECURITIES INC.,
as Lead Arranger

 	 
	 	By:  	/s/ William Franen
 	 
	 	 	Name:  	William Franen 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/ Eric I. Klar
 	 
	 	 	Name:  	Eric I. Klar 	 
	 	 	Title:  	Director 	 
	 
	 	BANC OF AMERICA SECURITIES LLC,
as Syndication Agent

 	 
	 	By:  	/s/ Janet Jarrett
 	 
	 	 	Name:  	Janet Jarrett 	 
	 	 	Title:  	Principal 	 
	 
	 	THE BANK OF NOVA SCOTIA,

Individually and as Documentation Agent

 	 
	 	By:  	/s/ Mark Sparrow
 	 
	 	 	Name:  	Mark Sparrow 	 
	 	 	Title:  	Director 	 
	 

Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Issuing Lender

 	 
	 	By:  	/s/
Blare K. Mehen
 	 
	 	 	Name:  	Blare K. Mehen 	 
	 	 	Title:  	VP 	 

Credit Agreement

 

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA,

as Issuing Lender

 	 
	 	By:  	/s/ Mark Sparrow
 	 
	 	 	Name:  	MARK SPARROW 	 
	 	 	Title:  	DIRECTOR 	 
	 

Credit Agreement

 

 

	 	 	 	 	 
	 	FORTIS CAPITAL CORP., 

as Issuing Lender

 	 
	 	By:  	/s/ Machiel V.M. Van Der Voort
 	 
	 	 	Name:  	Machiel V.M. Van Der Voort 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	  	                  /s/ John M. Crawford
 	 
	 	 	John M. Crawford 	 
	 	 	Managing Director 	 
	 

Credit Agreement

 

 

	 	 	 	 	 
	 	SOCIETE GENERALE,

as Issuing Lender

 	 
	 	By:  	/s/ Ambrish D. Thanawala
 	 
	 	 	Name:  	Ambrish D. Thanawala 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Credit Agreement

 

 

SCHEDULE I

LENDER COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Tranche B	 	Tranche C	 	Converted	 	 
	 	 	Term Loan	 	Term Loan	 	Tranche C	 	Credit-Linked
	Lender	 	Commitment	 	Commitment	 	Term Loans	 	Commitment
	Deutsche Bank
AG New York
Branch
	 	$	225,000,000.00	 	 	$	750,000,000.00	 	 	$	0.00	 	 	$	100,000,000.00	 

 

 

SCHEDULE II

LENDER ADDRESSES

	 	 	 
	LENDER	 	ADDRESS
	Deutsche Bank AG New York Branch

	 	60 Wall Street 

New York, NY 10005
Attention: Marguerite Sutton
	 
	 	Tel.: 212-250-6150 

Fax: 212-797-4655

 

 

SCHEDULE III

PART A-1

Owned Hawaii Property (“Mortgaged Property”)

Section 1 — Dole Food Company, Inc.

Section 2 — Waialua Sugar Company, Inc.

Section 3 — Wahiawa Water Company, Inc.

Section 4 — La Petite D’ Agen, Inc.

 

 

SCHEDULE III

PART
A-1

Owned Hawaii Property (“Mortgaged Property”)

Section 1 — Dole Food Company, Inc.

As attached to original Credit Agreement of March 28, 2003, except for sales and exchanges listed
on attached “Schedule of Real Property Changes 3/28/03 to 4/10/06”.

2

 

SCHEDULE III

PART
A-1

Owned Hawaii Property (“Mortgaged Property”)

Section 2 — Waialua Sugar Company, Inc.

As attached to original Credit Agreement of March 28, 2003, except for sales and exchanges listed
on attached “Real Property Sales — Hawaii”.

3

 

SCHEDULE III

PART
A-1

Owned Hawaii Property (“Mortgaged Property”)

Section 3 — Wahiawa Water Company, Inc.

As attached to original Credit Agreement of March 28, 2003.

4

 

SCHEDULE III

PART A-1

	Owned Hawaii Property (“Mortgaged Property”) 

Section 4 — La Petite D’ Agen, Inc.

As attached to original Credit Agreement of March 28, 2003.

5

 

	PART A-2 Leased Hawaii Property (“Leased HI Properties”) LEASE NO. OWNER ACRES ACRES TMK USE
WAIALUA SUGAR COMPANY, ING. WLP 15 A TYAU, FRANCES & GERTRUDE UF interest 805.000
2.3206-6-28-08/09; 6-7-03-11 Subleased WLP 19 A AHIA, ROBERTS ALFRED 2.046 6-2-02-02P to Causey
TOTAL 4.366 BOLE FOOD COMPANY, INC. HLP 5 A TYAU, FRANCES & GERTRUDE UF interest 36.6956-5-02-07/23
dam & HLP 7 GALBRAITH ESTATE 142.4437-1-01-13/17/20/21/22 spillway DLP 33 HAKERLY WAIALUA 37. OOP
6-5-02-22 TOTAL 216.138 CASTLE & G0QKE C&C PROPERTIES Wahiawa 242.526 6-4-03-11/6-4-04-07 C&C INC.
Whitmore 296.000 7-1-02-09/7-1-02-10 Subleased C&C RESIDENTIAL Waipio 570.3859-4-06-01/9-4-06-02 to
Sou 9-5-03-01 p/9-5-03-04p

 

 

	PART A-3 Owned Continental US Properties over $1,000,000 -Excluding Principal
Properties-(“Million-Plus Continental US Properties”) Section 1 — California Owned Property Land/
Property Tax ID # City County Owner Acres Buildings 135_043_008___IL/B — Farm Molera Ranch OOP
Castroville Monterey BudAntle, Inc. Land 135-043-009- L/B-Farm Vlolera Ranch OOP Castroville
Monterey Bud Antle, Inc. Land 135-052-P04- L/B-Farm Molera Ranch OPO Castroville Monterey Bud
Antle, Inc. Land 135-052-P05- L/B-Farm Molera Ranch OOP Castroville Monterey Bud Antle, Inc. Land
135-081-007- L/B-Farm Vlolera Ranch OOP Castroville Monterey Bud Antle, Inc. Land 135-081-008-
L/B-Farm Vlolera Ranch OOP Castroville Monterey Bud Antle, Inc. Land 135-081-009- L/B-Farm Molera
Ranch OOP Castroville Monterey Bud Antle, Inc. Land 135-081-010- L/B-Farm Molera Ranch OOP
Castroville Monterey Bud Antle, Inc. Land 135-101-015- L/B-Farm Vlolera Ranch OOP Castroville
Monterey Bud Antle, Inc. Land 135-101-016- L/B-Farm Vlolera Ranch OOP Castroville Monterey Bud
Antle, Inc. Land [Total for all Molera Ranch properties) 1,061 Gonzales Packing Shed 2P1-0-353-P25
Gonzalez Monterey Bud Antle, Inc. 11 L/B Huron Cooler 075-032-36S Huron Fresno Bud Antle, Inc. L/B
Livingston Ranch 216-0-051-320 Oxnard Ventura Bud Antle, Inc. 128 L/B Salinas Central Op
003-471-022 Salinas Monterey Bud Antle, Inc. L/B 003-471-007- Salinas Central Op OOP Salinas
Monterey Bud Antle, Inc. UB 800-PPP-887- Salinas Central Op OOP Salinas Monterey Bud Antle, Inc.
L/B 800-005-213- Salinas Central Op |OPP Salinas Monterey Bud Antle, Inc. . L/B

 

 

	· Section 1 — California Owned Property (cont.) Property Tax ID # City County Owner Acres Buildings
Dole Dried Fruit and Nut Company, A California Prune Dehydrator General Complex 049-130-19-1 Red
Bluff Partnership Dole Dried Fruit and Nut Company, A California Kerman Raisin Plant General and
Storage 016-370-145 Keman Partnership Dole Dried Fruit and Nut Company, A California Kerman Raisin
Plant General and Storage 016-140-39S Kernan Partnership Dole Dried Fruit and Nut Company, A
California Kerman Raisin Plant General and Storage 016-140-385 Kernan Partnership 47.68 Dole Dried
Fruit and Nut Company, A California Malaga Raisin Plant 331-071- General 3636 Grant Land |31S/22S
[Fresno [Fresno [Partnership | 39.36 | Also the following: Owned properties listed in attached
“Real Property Owned and Leased — Packaged Frozen” acquired in JR Wood acquisition, Ducor Ranch
(approx. 556 acres) in Tulare County, acquired in Nash-De Camp acquisition, and Westlake Wellbeing
property at Two Dole Drive, Westlake Village, Los Angeles County, acquired from Castle & Cooke in
exchange for land in Hawaii.

 

 

	PART A-3 Owned Continental US Properties over $1,000,000 -Excluding Principal
Properties-(“Million-Plus Continental US Properties”) Section 2 — Florida Owned Property Land/
Property Tax ID # City County Owner Acres Buildings Dole Fresh Flowers, Inc. — Receiving Dole Fresh
2200 NW 70th Avenue 130303500203201 Miami Dade flowers, Inc. 2 L/B

 

 

	PART A-3 Owned Continental US Properties over $1,000,000 -Excluding Principal
Properties-(“Million-Plus Continental US Properties”) Section 3 — Washington Owned Property Land/
Property Tax ID # City County Owner Acres Buildings None

 

 

	PART A — 4 Leased Continental US Properties over $1,000,000 -Excluding
Principal Properties-(“Million-Plus Continental US Properties”) As
attached to original Credit Agreement of March 28, 2003, except as
follows: Add: properties listed on attached “Real Property Leased — Dole
Berry”.

 

 

	Schedule of Real Property — Hawaii Changes since March 28, 2003 Tax Map
Key Number Waialue Sugar Company, Inc. Oahu, Hawaii 6-7-13-05 09/26/03
1,412 Dole Food Company Inc, Oahu Hawaii 6-8-3-3 09/08/04 16,488 9-5-1-1
09/17/04 2,834 5-5-15-13 12/13/04 1,420 6-2-4-35 12/30/04 18,177
6-5-15-03 04/29/05 12,212 6-2-3-26 04/26/05 0,210 6-8-28-16 ) 4,701
6-5-28-13 ) 05/18/05 2,125 6-5-28-15 ) 10,350 6-5-28-14 ) 06/24/05 2,718
6-5-28-16 06/30/05 2,325 6-5-28-01 ) 3.150 ) 6-6-28-03 ) 1,320 5-6-28-04
) 7/1/2005 6,570 8-6-28-85 ) 8-6-28-06 ) 1,939 6-6-28-07 ) 1,176
8-6-28-19 ) 6,169 8-6-28-22 07/15/05 6,058 8-5-2-24 11/23/2005 9,750
6-6-28-9 ) 11/23/2005 3,712 5-6-28-5 ) 1,9576 * Subtotal 112,672
7-1-3-050 03/16/2006 0,134 Grand Total Land Sold 114,218 Land Exchanges
Portion of 6-7-1-5 17,055 Portion of 6-7-9-3 6,581 Subtotal 17,015
8-3-5-10 333,425 6-6-34-75 1,458 6-5-9-2 3,273 6-6-10-3 3,593 Subtotal
341,750 Grand Total Land Exchange 359,566 Acres TOTAL SOLD LAND EXCHANGE
473,884 Acres Other Adjustments to Schedule of Real Property: Meter &
Bounds Adjustment 8-4-4-1 (0.744) Survey Adjustment 6-5-28-08 0.832
Dole’s Portion (Total Adj=+0.906) Survey Adjustment 64-28-9 (0.0424)
Dole’s Portion (Total Adj= (0.053)) * Dole’s portion survey adjustment
Total Undivided Acres after survey: 6-6-28-8 4,506 6-6-28-9 2,447

 

 

	Scheduled Existing Indebtedness PART A — THIRD PARTY EXISTING INDEBTEDNESS as of March
25, 2006 Amount of USD $ Lender Borrower Currency Promissory Note Maturity Interest Rate
equivalent Vehicle Loans NAVISTAR Financial Pacific Coast Truck Center USD 1,137,000 various 8.25%
NAVISTAR Financial Pacific Coast Truck Center USD 863,000 various 5.8-7.0% NAVISTAR Financial
Pacific Coast Truck Center USD 2,264,000 various 6.85-7.45% Indebtedness of Foreign Subsidiaries in
connection with Grower Loans Bank of Chile Dole Chile S.A USD 5,460,000 7/27/2006 5.31% Banco
Credito e Inversiones Dole Chile S.A USD 5,066,000 8/14/2006 5.54% Banco Credito e Inversiones Dole
Chile S.A USD 2,958,000 8/21/2006 5.54% Banco Santander Dole Chile S.A USD 3,053,000 8/30/2006
5.54% Banco Santander Dole Chile S.A USD 1,955,000 9/9/2006 5.57% Capitalized Lease Obligations
Lloyds Leasing TSB Dole UK (Dole Chile) GBP 25,632,350 12/22/2024 4.93% 39,428,000 Lloyds Leasing
TSB Dole UK (Dole Colombia) GBP 25,168,896 12/22/2024 4.93% 38,710,000 Credit Lyonnais Dole France,
SAS (Marseille) USD 1,253,000 1/6/2012 4.70% Credit Lyonnais Dole France, SAS (Rungis) USD 953,000
11/4/2012 5.00% Various Dole Fresh Vegetables USD 35,000 various various Fuyo Sogo Lease Dole Japan
USD 1,000 4/30/2006 1.98% Toyota Rent-A-Lease Dole Japan USD 26,000 various various Volks Wagen
Finance Dole Japan USD 38,000 4/30/2007 17.63 Contingent Obligations Amount of Guarantor
Guaranteed Party Beneficiary Guarantee Maturity Purpose Dolefil Various growers Land Bank of the
Philippines 1,394,000 various Grower loans Standard Fruit de Honduras S. A Banco Grupo el Ahorro
Hondurefio Banco Grupo el Ahorro Hondurefio 65,915 12/30/2010 Growerloans SABA Fresh cut SFC
Coolers ABB Credit Finans 288,000 1/31/2007 leasing agreements

 

 

	CORPORATE GUARANTIES OF SUBSIDIARY OBLIGATIONS Guaranteed Party Guaranteed Subsidiary Purpose Date
Issued Expiry Date Facility (local Currency) March 25 2006 ASIA Kochu Dole Japan, Ltd. Trade
Payable 3/13/1987 (a) JPY 6,000,000,000 117.85 17,088,348.59 Standard Chartered Bank Dole
Thailand, Ltd. Guarantee Facility 2/28/2006 2/28/2007 $ 600,000.00 1.0000 424,550.00 Bank of
America, N A. Dole Hong Kong Limited Overdraft facility 2/28/2006 2/28/2007 $ 8,000,000.00 1.0000
0.00 Bank of America, N A Dole Thailand Limited Multi-credit facility 2/28/2006 2/28/2007 $
7,500,000.00 1.0000 6,531,000.00 EUROPE Societe Generale Dole Europe, S.A. Overdraft facility
10/13/2005 12/31/2006 EUR 4,000,000 1.1973 0.00 LATIN AMERICA Lloyd’s Leasing DFFI, Ltd. Ship
Financing 11/22/1999 GBP 29,378,039 1.7348 50,965,021.33 Bank of America, N A So I vest. Ltd.
Overdraft facility 11/20/2003 10/6/2006 $ 3,000,000.00 1.0000 0.00 Morgan Stanley Capital Group,
Inc. Ventura Trading Ltd. Bunker fuel hedging 1/6/2005 open USD 1.0000 0.00 Barclays Bank PLC
Ventura Trading Ltd. Bunker fuel hedging 9/27/2005 open USD 1.0000 0.00 Bank of America, NA
Ventura Trading Ltd. Bunker fuel hedging 1/26/2005 open USD 1.0000 0.00 Fortis Energy LLC Ventura
Trading Ltd. Bunker fuel hedging 2/8/2005 open USD 1.0000 0.00 Sovereign Bank Ventura Trading Ltd.
Container lease 12/9/2005 12/9/2012 $ 21,582,814.44 1.0000 21,582,814.44 NORTH AMERICA General
Electric Capital Corporation Dole Foods Flight Operations, Inc. Bombardier 4/1/2003 4/2/2010 $
31,867,390.88 1.0000 31,867,390.88 San Diego Unified Port District Dole Food Company, Inc. San
Diego Port 5/8/2001 12/31/2012 $ 13,000,000.00 1.0000 11,000,000.00 Dell Computers Dole Fresh
Flowers Purchase Dell Computer products 9/25/2003 open $ 275,000.00 1.0000 721.69
Cypress-Southbay, Inc. (lease) Dole Fresh Flowers Original lease and 2nd Amendment 4/8/04
9/10/2003 7/31/2009 $ 2,011,925.34 1.0000 1.444.756.38 Corporate Guaranties of Subsidiary
Obligations $140,994,603.31

 

 

	SCHEDULE IV — Outstanding Hedges Oustanding FX Hedges As of April 11, 2006 By Counterparty Strike
or Paticipation Strike or Participation Hedge Type Expiration Settlement Counterparty Buy or Sell
Notional Amount Hedge Rate US Dollars Notional Amount Hedge Rate US Dollars anticipating Forwards
24-Apr-06 26-Apr-06 Bank of America Buy CLP 1,384,000,000 522.000 2,651,341 69 ,000,000 522.000 $
1,325,670 articipating Forwards 22-May-06 24-May-06 Bank of America Buy CLP 1,061,500,000 522.000
2,033,525 53 ,750,000 522.000 $ 1,016,762 anticipating Forwards 19-Jun-06 21-Jun-06 Bank of America
Buy CLP 980,000,000 522.000 1,877,395 49 ,000,000 522.000 $ 938,697 articipating Forwards 17-Jul-06
19-Jul-06 Bank of America Buy CLP 1,089,000,000 522.000 2,086,207 54 ,500,000 522.000 $ 1,043,103
articipating Forwards 14-Aug-06 17-Aug-06 Bank of America Buy CLP 1,065,000,000 522.000 2,040,230
53 ,500,000 522.000 $ 1,020,115 articipating Forwards 13-Sep-06 15-Sep-06 Bank of America Buy CLP
87 ,500,000 522.000 1,684,866 43 ,750,000 522.000 $ 842,433 articipating Forwards 6-Oct-06
11-0ct-06 Bank of America Buy CLP 87 ,500,000 522.000 1,675,287 43 ,250,000 522.000 $ 837,644
articipating Forwards 6-Nov-06 8-Nov-06 Bank of America Buy CLP 95 ,000,000 522.000 1,833,333
478,500,000 522.000 $ 916,667 Forwards 17-Jul-06 Bank of America BuyTHB 1 ,286,000 41.390 345,156
Forwards 24-Jul-06 Bank of America BuyTHB 5 ,144,000 41.395 1,380,457 Forwards 31-Jul-06 Bank of
America BuyTHB 1 ,286,000 41.395 345,114 Forwards 7-Aug-06 Bank of America Buy THB ,524,000 41.400
230,048 Participating Forwards 15-Aug-06 17-Aug-06 Bank of America SellJPY 299,000,000 113.000
2,646,018 148,500,000 113.000 $ 1,314,159 Participating Forwards 22-Aug-06 24-Aug-06 Bank of
America SellJPY 299,000,000 113.000 2,646,018 148,500,000 113.000 $ 1,314,159 Participating
Forwards 29-Aug-06 31-Aug-06 Bank of America SellJPY 299,000,000 113.000 2,646,018 148,500,000
113.000 $ 1,314,159 Participating Forwards 5-Sep-06 7-Sep-06 Bank of America SellJPY 299.000.000
113.000 2.646.018 148.500.000 113.000 $ 1.314.159 Total Bank of America Hedges 28.767.030
13.197.729 Participating Forwards 25-Apr-06 27-Apr-06 Bank of Ireland Sell Euro 4.125.000 1.200
4.950.000 2.103.750.0 1.200 $ 2.524.500 Participating Forwards 2-May-06 4-May-06 Bank of Ireland
Sell Euro 4.125.000 1.200 4.950.000 2.145.000.0 1.200 $ 2.574.000 Participating Forwards 9-May-06
11-May-06 Bank of Ireland Sell Euro 4.125.000 1.200 4.950.000 2.145.000.0 1.200 $ 2.574.000
Participating Forwards 16-May-06 18-May-06 Bank of Ireland Sell Euro 4.125.000 1.200 4.950.000
2.186.250.0 1.200 $ 2.623.500 Total Bank of Ireland Hedges 19.800.000 10.296.000 Forwards 21-Apr-06
BMO BuyJPY 501.604.167 113.160 4.432.699 Forwards 15-Aug-06 BMO BuyTHB 8.870.000 41.370 214.407
Forwards 21-Aug-06 BMO BuyTHB 35.479.000 41.370 857.602 Forwards 28-Aug-06 BMO BuyTHB 8.870.000
41.380 214.355 Forwards 5-Sep-06 BMO BuyTHB 5.913.000 41.390 142.861 Participating Forwards
20-Jun-06 22-Jun-06 BMO Sell Euro 3.150.000 1.200 3.780.000 1.575.000.00 1.200 .890.000
Participating Forwards 27-Jun-06 29-Jun-06 BMO Sell Euro 3.150.000 1.200 3.780.000 1.575.000.00
1.200 .890.000 Participating Forwards 5-Jul-06 7-Jul-06 BMO Sell Euro 3.150.000 1.200 3.780.000
1.575.000.00 1.200 .890.000 Participating Forwards 11-Jul-06 13-Jul-06 BMO Sell Euro 3.150.000
1.200 3.780.000 1.575.000.00 1.200 .890.000 Participating Forwards 18-Jul-06 20-Jul-06 BMO SellJPY
324.000.000 113.000 2.867.257 162.000.000 113.000 .433.628 Participating Forwards 25-Jul-06
27-Jul-06 BMO SellJPY 324.000.000 113.000 2.867.257 162.000.000 113.000 .433.628 Participating
Forwards 1-Aug-06 3-Aug-06 BMO SellJPY 324.000.000 113.000 2.867.257 162.000.000 113.000 $ .433.628
Participating Forwards 8-Aug-06 10-Aug-06 BMO Sell JPY 324.000.000 113.000 2.867.257 162.000.000
113.000 $ .433.628 Total BMO Hedges 32.450.949 1 .294.513 Participating Forwards 11-Apr-06
13-Apr-06 BNS Sell Euro 3.825.000 1.200 4.590.0
00 1.868.940.00 1.200 $ .242.728 Participating
Forwards 18-Apr-06 20-Apr-06 BNS Sell Euro 3.825.000 1.200 4.590.000 1.880.543.00 1.200 $ .256.652
Total BNS Hedges 9.180.000 .499.380 Forwards 20-Apr-06 Citibank Buy COP 7.964.658.360 2.280.830
3.492.000 Forwards 18-May-06 Citibank Buy COP 8.726.488.755 2.282.330 3.823.500 Forwards 15-Jun-06
Citibank Buy COP 5.174.586.190 2.282.570 2.267.000 Forwards 13-Jul-06 Citibank Buy COP
5.088.443.100 2.285.400 2.226.500 Forwards 10-Aug-06 Citibank Buy COP 4.963.588.075 2.288.950
2.168.500 Forwards 7-Sep-06 Citibank Buy COP 4.935.998.700 2.291.550 2.154.000 Forwards 5-Oct-06
Citibank Buy COP 4.814.966.280 2.294.480 2.098.500 Forwards 2-Nov-06 Citibank Buy COP 6.405.282.000
2.295.800 2.790.000 Forwards 30-Nov-06 Citibank Buy COP 5.342.307.375 2.299.250 2.323.500 Forwards
28-Dec-06 Citibank Buy COP 5.245.801.200 2.300.790 2.280.000 Forwards 20-Apr-06 Citibank Buy COP
7.927.887.600 2.2 0.300 3.492.000 Forwards 18-May-06 Citibank Buy COP 8.682.786.150 2.2 0.900
3.823.500 Forwards 15-Jun-06 Citibank Buy COP 5.148.810.400 2.2 1.200 2.267.000 Forwards 13-Jul-06
Citibank Buy COP 5.057.272.100 2.2 1.400 2.226.500 Forwards 10-Aug-06 Citibank Buy COP
4.927.265.700 2.2 2.200 2.168.500 Forwards 7-Sep-06 Citibank Buy COP 4.899.488.400 2.2 4.600
2.154.000 Forwards 5-Oct-06 Citibank Buy COP 4.777.025.400 2.2 6.400 2.098.500 Forwards 2-Nov-06
Citibank Buy COP 6.356.457.000 2.2 8.300 2.790.000 Forwards 30-Nov-06 Citibank Buy COP
5.295.024.150 2.2 8.900 2.323.500 Forwards 28-Dec-06 Citibank Buy COP 5.197.032.000 2.2 9.400
2.280.000 Total Citibank Hedges 51,247,000

 

 

	Forwards 13-Apr-06 Deutsche SellJPY 38,000,000 113 336,312.95 Forwards 20-Apr-06 Deutsche Sell JPY
38,000,000 113 336,342.72 Forwards 27-Apr-06 Deutsche Sell JPY 48,000,000 113 424,891.56 Forwards
2-May-06 Deutsche Sell JPY 48,000,000 113 424,929.18 Forwards 11-May-06 Deutsche Sell JPY
48,000,000 113 424,891.56 Forwards 18-May-06 Deutsche Sell JPY 48,000,000 113 425,305.69 Forwards
25-May-06 Deutsche Sell JPY 47,000,000 113 416,851.44 Forwards 1-Jun-06 Deutsche Sell JPY
47,000,000 113 417,258.52 Forwards 8-Jun-06 Deutsche Sell JPY 47,000,000 113 417,666.40 Forwards
15-Jun-06 Deutsche Sell JPY 24,000,000 112 213,504.14 Forwards 22-Jun-06 Deutsche Sell JPY
18,000,000 112 160,256.41 Forwards 29-Jun-06 Deutsche Sell JPY 18,000,000 112 $ 160,413.51
Forwards 6-Jul-06 Deutsche Sell JPY 18,000,000 112 $ 160,556.60 Forwards 13-Jul-06 Deutsche Sell
JPY 18,000,000 112 $ 160,699.94 Forwards 20-Jul-06 Deutsche Sell JPY 36,000,000 112 $ 321,687.07
Forwards 27-Jul-06 Deutsche Sell JPY 36,000,000 112 $ 321,974.78 Forwards 3-Aug-06 Deutsche Se JPY
36,000,000 112 $ 322,263.00 Forwards 10-Aug-06 Deutsche Se JPY 36,000,000 112 $ 322,522.85
Forwards 17-Aug-06 Deutsche Se JPY 33,000,000 113 $ 292,048.32 Forwards 24-Aug-06 Deutsche Se JPY
33,000,000 113 $ 292,242.30 Forwards 31-Aug-06 Deutsche Se JPY 33,000,000 113 $ 292,423.57
Forwards 7-Sep-06 Deutsche Se JPY 33,000,000 113 $ 292,682.93 Forwards 14-Sep-06 Deutsche Se JPY
14,000,000 113 $ 124,300.81 Forwards 21-Sep-06 Deutsche Se JPY 14,000,000 113 $ 123,893.81
Forwards 28-Sep-06 Deutsche Se JPY 14,000,000 113 $ 124,014.53 Forwards 5-Oct-06 Deutsche Se JPY
14,000,000 113 $ 124,135.49 Forwards 12-0ct-06 Deutsche SellJPY 35,000,000 113 $ 310,669.27
Forwards 19-Oct-06 Deutsche Sell JPY 35,000,000 113 $ 310,972.90 Forwards 26-Oct-06 Deutsche Sell
JPY 35,000,000 112 $ 311,332.50 Forwards 2-Nov-06 Deutsche Sell JPY 35,000,000 112 $ 311,720.70
Forwards 9-Nov-06 Deutsche Sell JPY 33,000,000 112 $ 294,117.65 Forwards 16-Nov-06 Deutsche Sell
JPY 33,000,000 112 $ 294,327.51 Forwards 24-Nov-06 Deutsche Sell JPY 33,000,000 112 $ 294,406.28
Forwards 30-Nov-06 Deutsche Sell JPY 33,000,000 112 $ 294,616.55 Forwards 7-Dec-06 Deutsche
SellJPY 13,000,000 112 $ 116,268.67 Forwards 14-Dec-06 Deutsche Sell JPY 13,000,000 112 $
116,289.47 Forwards 21-Dec-06 Deutsche Sell JPY 13,000,000 112 $ 116,383.17 Forwards 28-Dec-06
Deutsche Sell JPY 13,000,000 112 $ 116,487.46 Forwards 19-Jun-06 Deutsche Buy THB 88,404,000 41 $
2,137,944.38 Forwards 26-Jun-06 Deutsche Buy THB 22,101,000 41 $ 534,421.47 Forwards 3-Jul-06
Deutsche Buy THB 22,101,000 41 $ 534,356.87 Forwards 10-Jul-06 Deutsche Buy THB 14,734,000 41 $
356,194.85 Forwards 4-Dec-06 Deutsche Buy THB 30,933,000 41 $ 746,632.87 Forwards 12-Dec-06
Deutsche Buy THB 41,244,000 41 $ 995,330.32 Forwards 18-Dec-06 Deutsche Buy THB 134,044,000 41 $
3,234,262.28 Participating Forwards 5-Dec-06 7-Dec-06 Deutsche Sell Euro 3,275,000 1.200 $
3,930,000 1,735,750.00 1.200 $ 2,082,900 Participating Forwards 12-Dec-06 14-Dec-06 Deutsche Sell
Euro 3,275,000 1.200 $ 3,930,000 1,735,750.00 1.200 $ 2,082,900 Participating Forwards 19-Dec-06
21-Dec-06 Deutsche Sell Euro 3,275,000 1.200 $ 3,930,000 1,703,000.00 1.200 $ 2,043,600
Participating Forwards 26-Dec-06 28-Dec-06 Deutsche Sell Euro 3,275,000 1.200 $ 3,930,000
1,703,000.00 1.200 $ 2,043,600 Participating Forwards 2-Jan-07 4-Jan-07 Deutsche SellJPY
296,000,000 113.000 $ 2,619,469 148,000,000 113.000 $ 1,309,735 Participating Forwards 9-Jan-07
11-Jan-07 Deutsche Sell JPY 296,000,000 113.000 $ 2,619,469 148,000,000 113.000 $ 1,309,735
Participating Forwards 16-Jan-07 19-Jan-07 Deutsche Sell JPY 296,000,000 113.000 $ 2,619,469
148,000,000 113.000 $ 1,309,735 Participating Forwards 23-Jan-07 25-Jan-07 Deutsche Sell JPY
296.000.000 113.000 $ 2.619.469 148.000.000 113.000 $ 1.309.735 Total Deutsche Hedges 45.058.681
13.491.938 Participating Forwards 7-Nov-06 9-Nov-06 Fortis Sell Euro 3.100.000 1.200 $ 3.720.000
1.550.000.00 1.200
$ 1.860.000 Participating Forwards 14-Nov-06 16-Nov-06 Fortis Sell Euro
3.100.000 1.200 $ 3.720.000 1.550.000.00 1.200 $ 1.860.000 Participating Forwards 21-Nov-06
23-Nov-06 Fortis Sell Euro 3.100.000 1.200 $ 3.720.000 1.550.000.00 1.200 $ 1.860.000
Participating Forwards 28-Nov-06 30-Nov-06 Fortis Sell Euro 3.100.000 1.200 $ 3.720.000
1.550.000.00 1.200 $ 1.860.000 Total Fortis Hedges 14.880.000 7.440.000 Forwards 24-Apr-06 HSBC
BuyTHB 106.135.000 1.320 $ 2.568.611 Forwards 2-May-06 HSBC Buy THB 26.534.000 1.330 $ 642.003
Forwards 8-May-06 HSBC BuyTHB 26.534.000 1.330 $ 642.003 Forwards 15-May-06 HSBC Buy THB
17.689.000 1.330 $ 427.994 Forwards 6-Nov-06 HSBC Buy THB 28.321.000 1.390 $ 684.247 Forwards
13-Nov-06 HSBC Buy THB 28.321.000 1.400 $ 684.082 Forwards 20-Nov-06 HSBC Buy THB 113.284.000
1.410 $ 2.735.668 Forwards 27-Nov-06 HSBC Buy THB 18.881.000 1.420 $ 455.843 Participating
Forwards 18-Jul-06 20-Jul-06 HSBC Sell Euro 2.525.000 1.200 $ 3.030.000 1.262.500.00 1.200 $
1.515.000 Participating Forwards 25-Jul-06 27-Jul-06 HSBC Sell Euro 2.525.000 1.200 $ 3.030.000
1.262.500.00 1.200 $ 1.515.000 Participating Forwards 1-Aug-06 3-Aug-06 HSBC Sell Euro 2.525.000
1.200 $ 3.030.000 1.262.500.00 1.200 $ 1.515.000 Participating Forwards 8-Aug-06 10-Aug-06 HSBC
Sell Euro 2.525.000 1.200 $ 3.030.000 1.262.500.00 1.200 $ 1.515.000 Total HSBC Hedges 20.960.452
6,060.000

 

 

	Forwards 16-Jun-06 Mizuho Buy JPY 1,000,000,000 1 6-570 8,578,537 Forwards 17-Apr-06 Mizuho Buy THB
115,365,000 -325 2,791,652 Forwards 10-Oct-06 Mizuho Buy THB 28,292,000 -395 683,464 Forwards
16-0ct-06 Mizuho Buy THB 28,292,000 -400 683,382 Forwards 24-Oct-06 Mizuho Buy THB 113,167,000 -410
2,732,842 Forwards 30-0ct-06 Mizuho Buy THB 18.861.000 -415 455.415 Total Mizuho Hedges 15,925,291
Participaling Forwards 15-Aug-06 17-Aug-06 Sovereign Sell Euro 2.250.000 -200 2.700.000 102.500-00
-200 .323.000 Participating Forwards 22-Aug-06 24-Aug-06 Sovereign Sell Euro 2.250.000 -200
2.700.000 1,102,500-00 -200 .323.000 Participating Forwards 29-Aug-06 -Aug-06 Sovereign Sell Euro
2.250.000 -200 2.700.000 1,102,500-00 -200 .323.000 Participating Forwards 5-Sep-06 Sep-06
Sovereign Sell Euro 2.250.000 -200 2.700.000 102.500-00 -200 .323.000 Participating Forwards
10-Oct-06 12 -Ocl-06 Sovereign Sell Euro 2.675.000 -200 3.2 0.000 310.750-00 -200 .572.900
Participating Forwards 17-Oct-06 19-Ocl-06 Sovereign Sell Euro 2.675.000 -200 3.2 0.000 310.750-00
-200 .572.900 Participating Forwards 24-Ocl-06 6-Ocl-06 Sovereign Sell Euro 2.675.000 -200 3.2
0.000 310.750-00 -200 .572.900 Participating Forwards 31-Oct-06 Nov-06 Sovereign Sell Euro
2.675.000 -200 3.2 0.000 310.750-00 -200 .572.900 Partic paling Forwards 17-0cl-06 -Ocl-06
Sovereign SellJPY 318.000.000 1 -000 2.8 4.159 59.000.000 11 -000 .407.080 Partic paling Forwards
24-Ocl-06 6-Ocl-06 Sovereign SellJPY 318.000.000 1 -000 2.8 4.159 59.000.000 11 -000 .407.080
Particpaling Forwards 31-0cl-06 Nov-06 Sovereign Sell JPY 318.000.000 1 -000 2.8 4.159 59.000.000
11 -000 $ .407.080 Forwards -Sep-06 Sovereign Buy THB 21.261.000 -400 5 3.551 Forwards 8-Sep-06
Sovereign Buy THB 21.261.000 -405 5 3.489 Forwards 25-Sep-06 Sovereign Buy THB 85.043.000 -415
2.053.435 Forwards 3-Ocl-06 Sovereign Buy THB 14.174.000 ,420 342.202 Total Sovereign Hedges
35.505.154 15.804.839 Participating Forwards 12-Sep-06 14-Sep-06 US Bank Sell Euro 2.325.000 -200
2.790.000 1.162.500-00 1-200 $ 1.395.000 Participating Forwards 19-Sep-06 21-Sep-06 US Bank Sell
Euro 2.325.000 -200 2.790.000 1.162.500-00 1-200 $ 1.395.000 Participating Forwards 26-Sep-06
28-Sep-06 US Bank Sell Euro 2.325.000 -200 2.790.000 1.162.500-00 1-200 $ 1.395.000 Participating
Forwards 3-Ocl-06 5-Ocl-06 US Bank Sell Euro 2.325.000 -200 2.790.000 1.162.500-00 1-200 $
1.395.000 Total US Bank Hedges 9.300.000 11.160.000 4.650.000 5.580.000 Forwards 22-May-06 Wachovia
Buy THB 130.071.000 4 .362 3.144.698 Forwards 30-May-06 Wachovia Buy THB 32.518.000 4 .365 786.124
Forwards 5-Jun-06 Wachovia Buy THB 32.518.000 4 .367 786.086 Forwards 12-Jun-06 Wachovia Buy THB
21.678.000 4 .376 523.927 Participating Forwards 23-May-06 25-May-06 Wachovia Sell Euro 3.950.000
        .200 4.740.000 1.935.500.00 1.200 $ 2.322.600 Participating Forwards 30-May-06 1-Jun-06 Wachovia
Sell Euro 3.950.000 .200 4.740.000 1.935.500.00 1.200 $ 2.322.600 Participating Forwards 6-Jun-06
8-Jun-06 Wachovia Sell Euro 3.950.000 .200 4.740.000 1.935.500.00 1.200 $ 2.322.600 Participating
Forwards 13-Jun-06 15-Jun-06 Wachovia Sell Euro 3.950.000 .200 4.740.000 1.935.500.00 1.200 $
2.322.600 Total Wachovia Hedges 24.200.834 9.290.400 Total FX Hedges $ 309,135,390 $ 98,954,799

 

 

	Schedule IV- Part B Intercompany Notes Amount of Lender Borrower Promissory Note Execution Date
Maturity Miscellaneous Principal Interest Balance Agoura, Limited Sol vest, Ltd. $ 38,294,721.60
11/30/2005 11/30/2006 Interest only is due-Annual Renewal-4.26125% $ 38,080,012.92 $ 1,216,682.52 $
39,296,695.44 Ashford Company Limited Solves!, Ltd. $ 12,200,000.00 2/1/2006 2/1/2007 Interest only
is due annually. $ 12,200,000.00 $ 111 ,688.74 $ 12,311,688.74 Camarillo, Limited Standard Fruit
Company $ 377,923,031.35 11/28/2005 11/30/2006 PerSi^ge.iioiieedioEayiiiieresi. $ — $ — $
303,368,241.76 Solvest, Ltd. Dole Shanghai Co., Limited $ 3,000,000.00 7/16/2001 7/31/2011
Principal paid in one payment $ 1,000,000.00 $ 59,348.83 $ 1,059,348.83 Solvest, Ltd.. Inversiones
Floricola S. De RL $ 540,000.00 1/31/2006 1/31/2007 In the past, interest has been paid at maturity
$ 540,000.00 $ 6,416.52 $ 546,416.52 Tropical Shipping Italiana Solvest, Ltd. $ 4,265,051.79
11/30/2005 11/30/2007 prepayment of loan at any time Tropical Shipping Italiana Solvest, Ltd. $
2,569,793.79 11/30/2005 11/30/2007 prepayment of loan at any time $ 6,718,790.00 Dole Food Company,
Inc. Dole Fresh Fruit Company $ 96,765,818.46 11/30/2005 11/30/2006 Interest pd. 12/4/04, next due
11/30/05. $ 96,765,818.46 $ 5,647,785.74 $ 102,413,604.20 Solvest, Ltd. Dole Foreign Holdings Ltd.
$ 246,212,121.21 3/28/2003 3/27/2013 10 year term loan. Interest must be paid quarterly $
246,212,121.21 $ 3,886,479.13 $ 250,098,600.34 Dole Dried Fruit & Nut Co. Shubin Family Trustee $
700,000.00 2/25/2004 2/25/2009 According to amortization schedule $ 109,991.68 $ — $ 109,991.68
Dole Europe BV Solvest EUR 500,000 12/19/2005 12/19/2006 Rate is 3.123% Dole Europe BV Solvest SEK
30,000,000 1/24/2006 On Demand Rate is 2.595% + 0.75% = 3.345% Dole Europe BV Solvest EUR 607,682
12/15/2004 On Demand Rate is 2.174% +.50% = 2.674% $ 4,568,709.00 $ 40,224.42 $ 4,608,933.42 Saba
Trading A.B. Dole Europe B.V. SEK 25,207,185 6/24/2005 6/24/2006 Rate is 2.222% + .50% = 2.722%
SABA Trading AB Solvest SEK 25,000,000 3/23/2005 On Demand Rate is 2.222% + .50% = 2.722% $
3,200,942.00 $ 89,087.01 $ 3,290,029.01 Soleil Holding France S.A. Saba Trading A.B. SEK 28,792,815
6/24/2005 6/24/2006 $ 3,788,528.29 Saba Trading Holding A.B. Solvest EUR 5,142,739 6/24/2005
6/24/2006 Rate is 2.605% + .50% = 3.105% $ 658,464.00 $ 66,423.88 $ 724,887.88 Standard Fruit
Company Dole Food Company, Inc. $ 296,983,875.00 1/31/2006 1/31/2007 $ 289,188,309.00 $
289,188,309.00 Dole Ocean Cargo Express, Inc. Dole Fresh Fruit Company $ 156,826,724.12 3/28/2003
3/31/2007 $ 156,826,724.12 $ 156,826,724.12 Dole Japan Solvest YEN 500,000,000 1/27/2006 4/21/2006
Rate is 2.05 + .25% = 2.30% $ 4,242,681.00 $ 4,242,681.00 Dole Japan Solvest YEN 1,000,000,000
3/24/2006 6/16/2006 Rate is 2.05 + .25% = 2.30% $ 8,485,363.00 $ 8,485,363.00 Solvest Cookstown
24,724,760.00 $ 24,724,760.00 $ 24,724,760.00 Solvest Bananapuerto $ 28,904,328.00 $ 28,904,328.00
28,904,328.00 Solvest UBESA $ 3,327,348.64 $ 3,327,348.64 $ 3,327,348.64 Solvest Dole Fresh Fruit
International $ 220,000,000.00 $ 220,000,000.00 $ 220,000,000.00 Solvest DFFIHK YEN 37,941,750 S
305,852,036.49 S 305,852,036.49 S 1,448,676,137.81 S 11,124,136.79 S 1,766,098,778.07

 

 

	DOLE FOOD COMPANY, INC. Qualified US Obligor (QUS) I/C Receivables FROM Qualified Non US Obligor
(Q) Balance by Company and Sub-ledger Starting Date P3 05 Measurement Date Increase/ Entit\
Subledger Description P2’06 (Decrease) 0112 Solvest Ltd. 46,545 46,545 0 1047 Dole Food Flight
Operations 46,545 46,545 0 5331 Dole Shanghai Yanhai Food Co Ltd-Ban 0 0 0 1074 Cool Care Inc. 0 0
0 3910 DFFI-Dole Fresh Fruit Intl 86 86 0 3970 DFFI Ltd. Shipping 1,286 1,286 0 Dole Ocean Liner
Express 1,371 1,371 0___3910 DFFI-Dole Fresh Fruit Intl 416,314 416,314 0 3916 Solamerica 32,079
32,079 0 5454 Interfruit Co. Ltd. Deciduous 1,000 1,000 0 3962 Baltime Limited 0 0 0 1015 Baltime
Securities Corp. 449,394 449,394 0 5023 CCWW Citrus 3,849,252 3,849,252 0 1078 Dole Asia Inc.
3,849,252 3,849,252 0 5305 Dole China Ltd. — Veg 19,048 19,048 0 1030 Dole Citrus 19,048 19,048 0
0112 Solvest Ltd. 2,148,964 498,824 (1,650,140) 0118 Ashford Company Ltd. 0 0 1930 Dole Foods of
Canada — Pro. Pin 2,136,681 4,246,960 2,110,279 3100 Dole Chile S.A. 0 00 3303 Cia.Com.e Import.
Vina del Mar 19,569 0 (19,569) 1138 Dole Foods of Canada — Fresh 0 00 3500 S.F. Honduras 2,550
2,550 0 3910 DFFI-Dole Fresh Fruit Intl 100,313 100,313 0 3977 Dole UK Ltd. Shipping 0 342,831
342,831 5086 Dole Philippines-Dolefil Proc.Pines 5,946 0 (5,946) 7177 Dole UK Ltd. 328,245 0
(328,245) 9037 Bienes y Valores S. A. 0 0 0 1000 Dole Food Company Inc. 4,742,268 5,191,478 449,210

 

 

	DOLE FOOD COMPANY, INC. Qualified US Obligor (QUS) I/C Receivables FROM Qualified Non US Obligor
(Q) Balance by Company and Sub-ledger Starting Date P3 05 Measurement Date Increase/ Entit\
Subledger Description P2’06 (Decrease) 0112 Solvest Ltd. 0 145,966 145,966 Floramerica S.A. 12,420
6,246 (6,174) Flores Las Palmas S.A. 1,791 4,998 3,207 Cultivos del Caribe Ltda. 0 7,037 7,037 2003
Cultivos San Nicolas Ltda. 45,197 42,832 (2,365) 2006 Comercializadora Caribbean Ltda. 1,625 2,374
749 2264 Flores La Fragancia S.A. 3,431 1,940 (1,491) 2280 Colombian Carnations Ltda. 166 820 654
2282 Santa Monica Flowers Ltda. 1,125 5,341 4,216 2285 Splendor Flowers Ltda. 4,586 13,945 9,359
2287 Porcelain Flowers Ltda. 0 00 3100 Dole Chile S.A. 4,055,744 1,011,539 (3,044,205) 3200 Tecbaco
- Tecnicas Baltime de Col. 139,519 690,937 551,418 3300 S.F. Co. de Costa Rica 2,923,436 1,364,609
(1,558,827) 3400 Ubesa-Union de Ban. Ecuatorianos 177,796 724,695 546,899 3412 Siembra Nueva 4,676
1,190 (3,486) 3450 Cia. Naviera Agmaresa S.A 155,734 112,882 (42,852) 3463 Naportec 49,256 15,411
(33,845) 3480 Procarsa- Productos de Carton S.A. 0 406,504 406,504 3500 S.F.Honduras 3,434,792
3,278,165 (156,627) 3511 Macsa- Manuf. de Carton S.A. 0 00 3512 Plasa 284,967 244,663 (40,304) 3515
Pinansa-Pina Antillana S.A. 1,686 4,746 3,060 3580 Energua Honduras 1,329,770 703,646 (626,124)
3910 DFFI-Dole Fresh Fruit Intl 0 00 3917 Dole International Ltd. 0 294,883 294,883 3951 Agoura
Limited 21,125 21,125 0 3962 Baltime Limited 0 4,145 4,145 5011 DFFIL HK Bananas 2,876,275
1,967,552 (908,723) 5026 CCWW Processed Pines 2,236,127 989,009 (1,247,118) 5063 Dole Hong Kong
Citrus 130 195 65 5071 Stanfilco 746,401 205,635 (540,766) 5086 Dole Philippines-Dolefil Proc.Pines
1,411,230 812,677 (598,553) 9061 Fab. Manteca y Jabon Atlantida 0 0 0 1090 Dole Fresh Fruit Co.
19,919,004 13,085,707 (6,833,297) Floramerica S.A. 3,276 359 (2,917) Flores Las Palmas S.A. 75 0
(75) Cultivos del Caribe Ltda. 8,739 2,808 (5,931) Cultivos San Nicolas Ltda. 588 0 (588) Jardines
Colombia S.A. 0 00 2006 Comercializadora Caribbean Ltda. 624,082 1,353,653 729,571 2007 Americaflor
Ltda. 32 0 (32) 2041 Flores Mitad del Mundo S.A. 154,858 175,120 20,262 2264 Flores La Fragancia
S.A. 2,461 600 (1,861) 2271 AgricolaGuacariSAC.I. 17,916 0 (17,916) 2274 Flores de Exportacion
SAC.I. 19,752 0 (19,752) 2280 Colombian Carnations Ltda. 55 0 (55) 2282 Santa Monica Flowers Ltda.
50 0 (50) 2285 Splendor Flowers Ltda. 4,791 0 (4,791) 2287 Porcelain Flowers Ltda. 1,692 0 (1,692)
3910 DFFI-Dole Fresh Fruit Intl 0 267,959 267,959 1172 Dole Fresh Flowers Co. 838,367 1,800,499
962,132

 

 

	DOLE FOOD COMPANY, INC. Qualified US Obligor (QUS) I/C Receivables FROM Qualified Non US Obligor
(Q) Balance by Company and Sub-ledger Starting Date P3 05 Measurement Date Increase/ Entitj
Subledger Description P2’06 (Decrease) 3200 Tecbaco — Tecnicas Baltime de Col. 3,000 3,000 0 3302
Serv. Aduanales Banadole 0 33,115 33,115 3910 DFFI-Dole Fresh Fruit Intl 6,779,022 5,144,460
(1,634,562) 3963 Mahele Ltd. Fruit 548,288 548,288 0 3976 Reefership Marine Services 94,881 94,881
0___1094 Dole Ocean Cargo Express 7,425,192 5,823,744 (1,601,447) 3100 Dole Chile S.A. 0 0 0 Bud
Antle, Inc. (Merged Co.) 0 0 0___3200 Tecbaco — Tecnicas Baltime de Col. 4,330 4,330 (0) 3400 Ubesa-
Union de Ban. Ecuatorianos 28,864 28,864 0 3500 S.F. Honduras 82,672 82,672 0 3951 Agoura Limited
17,500 0 (17,500) 1160 Standard Fruit Company 133,366 115,866 (17,500) Grand Total 37,423,806
30,382,905 (7,040,902)

 

 

	DOLE FOOD COMPANY, INC. Qualified US Obligor (QUS) I/C Receivables from Non-Qualified Guarantors
(NQ/G) and Non-Qualified Companies (NQ) Balance by Company and Sub-ledger Starting Date P3
Measurement Increase/ Entity Subledger Description 05 Date P2’06 (Decrease) 7129 V.B.H. 63,182 0
(63,182) 7156 Dole France — Ripening 207,328 598,894 391,566 7250 Dole Comercializacion 112,823
40,941 (71,882) 7310 South Africa — Oth Imports 5,021,594 625,554 (4,396,040) 7032 Dole Fresh Fruit
Europe-Fresh 1,070,903 346,878 (724,025) 7511 Dole Italy — Ripening 119,156 32,133 (87,023) 1015
Baltime Securities Corp. 6,594,986 1,644,400 (4,950,586) 0113 Dole Export Company Ltd. 6,965 6,965
0 0304 Miradero Fishing 0 1,095,105 1,095,105 5166 Dole Thailand, Ltd. 198,479 0 (198,479) 7001
Dole Deutschland Gmbh 000 7156 Dole France — Ripening 000 7125 Dole Europe S.A. 000 7180 Dole
France Services 0 8,905 8,905 7032 Dole Fresh Fruit Europe -Fresh 396,008 206,883 (189,125) 1000
Dole Food Company Inc. 601,452 1,317,858 716,406 3221 Agrica — Inversiones Agrica S.A. 000 3800
S.F. de Guatemala S.A. 172,903 84,191 (88,712) 3934 OTSA- Operaciones Tropicales S.A. 70,357
138,380 68,023 7125 Dole Europe S.A. 000 5166 Dole Thailand, Ltd. 146,879 122,740 (24,139) 3972
Tropical Shipping Italiana 4,853 4,853 0 7001 Dole Deutschland Gmbh 0 2,000 2,000 1090 Dole Fresh
Fruit Co. 394.992 352,164 (42,828) 2040 Inversiones Floricola S.A. 62,988 87,845 24,857 2080 Flores
Lucitania S. de R.L. 2,001 2,001 (0) 2269 Riverwood Mgmt. Co. Inc. 3,036,039 3,036,039 0___1172 Dole
Fresh Flowers Co. 3,101,028 3,125,885 24,857 0113 Dole Export Company Ltd. 1,077,698 1,077,698 0_
1087 Dole Orland Inc. 1,077,698 1,077,698 0___3800 S.F. de Guatemala S.A. 000 7250 Dole
Comercializacion 107,125 167,925 60,800 7032 Dole Fresh Fruit Europe -Fresh 0 0 0___1094 Dole Ocean
Cargo Express 107,125 167,925 60,800 3935 Basa- Dole Fresh Fruit Intl Inc 8,184 8,184 (0)___1160
Standard Fruit Company 8,184 8,184 (0)___Grand Total 11,885,465 7,694,114 (4,191,351)

 

 

	DOLE FOOD COMPANY, INC. Qualified Non-US Obligor (Q) and Non-Qualified Guarantor (NQ/G) I/C
Receivables and Notes from Non-Qualified (NQ) Balance by Company and Sub-ledger / Starting Date
P3, 2005 / / Measurement Date P2, 2006 / Increase/ Entity Subledger Description I/C Receivables
I/C Notes Total I/C Receivables I/C Notes Total (Decrease) 2040 Inversiones Floricola S.A.
2,816,453 2,816,453 2,816,453 2,816,453 0 2240 Inversiones Crown SDRL 0 0 8,495,049 8,495,049
8,495,049 2279 Single Tree Corporation (Holding) 367,971 367,971 0 0 (367,971) 7126 Soleil
Holding 864,286 864,286 864,286 864,286 0 7200 Dole Foods Spain 1,918 1,918 1,918 1,918 0 7310
South Africa — Oth Imports 0 00 00 2040 Inversiones Floricola S.A. 546,287 546,287 543,047
543,047 (3,240) 2279 Single Tree Corporation (Holding) 170,860,754 170,860,754 0 0
(170,860,754) 5311 Dole China Shanghai 1,009,164 1,009,164 1,055,004 1,055,004 45,840 Soleil
Holding 6,819,885 6,819,885 0 0 (6,819,885) Dole Europe BV 0 0 0 0 0___Solvest Ltd. 4,050,628
179,236,090 183,286,718 12,177,706 1,598,051 13,775,757 (169,510,961) 2040 Inversiones
Floricola S.A. 7,192 7,192 6,524 6,524 (668) 2240 Inversiones Crown SDRL 802,962 802,962
699,907 699,907 (103,055) Floramerica S.A. 810,154 0 810,154 706,431 0 706,431 (103,723) 2240
Inversiones Crown SDRL 0 0 0 0 0___Floras Las Palmas S.A. 0 0 0 0 0 0 0___2240 Inversiones Crown
SDRL 0 0 0 0 0___Cultivos del Caribe Ltda. 0 0 0 0 0 0 0___2240 Inversiones Crown SDRL 0 0 0 0 0_
Cultivos San Nicolas Ltda. 0 0 0 0 0 0 0___2240 Inversiones Crown SDRL 51,553 51,553 59,729
59,729 8,176 Jardines Colombia S.A. 51,553 0 51,553 59,729 0 59.729 8,176 2040 Inversiones
Floricola S.A. 0 0 0 6,895 6,895 6,895 Comercializadora Caribbean Ltda. 0 0 0 6,895 0 6.895
6,895 2040 Inversiones Floricola S.A. 258,445 258,445 0 0 (258,445) 2240 Inversiones Crown SDRL
0 0 2,233,515 2,233,515 2,233,515 Floras Mitad del Mundo S.A. 258,445 0 258,445 2,233,515 0
2,233,515 1,975,070 2240 Inversiones Crown SDRL 0 00 00 2040 Inversiones Floricola S.A. 9,598
9,598 9,606 9,606 8___Floras La Fragancia S.A. 9,598 0 9,598 9.606 0 9,606 8___2240 Inversiones
Crown SDRL 26,029 26,029 33,744 33,744 7,715 Agricola Guacari S.A.C.I. 26.029 0 26,029 33,744 0
33.744 7,715 2240 Inversiones Crown SDRL 9,543 9,543 640,767 640,767 631,224 Floras de
Exportation S.A.C.I. 9,543 0 9,543 640,767 0 640,767 631,224 2040 Inversiones Floricola S.A. 0
0 7,622 7,622 7,622 Splendor Flowers Ltda. 0 0 0 7,622 0 7,622 7,622 2240 Inversiones Crown
SDRL 0 0 0 0 0___Porcelain Flowers Ltda. 0 0 0 0 0 0 0___2240 Inversiones Crown SDRL 0 0 0 0 0_
Olympia Flowers Ltda. 0 0 0 0 0 0 0___3935 Basa- Dole Fresh Fruit Intl Inc 799,334 799,334
799,334 799,334 0 7156 Dole France — Ripening 545,489 545,489 192,192 192,192 (353,297) 7250
Dole Comercializacion 333,839 333,839 218,005 218,005 (115,834) Dole Chile S.A. 1.678.662 0
1.678,662 1.209.531 0 1,209,531 (469.131) 3471 CopdeBan 29,505 29,505 34,316 34,316 4,811
Embalajes Standard S.A. 29,505 0 29,505 34,316 0 34,316 4,811 3170 S.F. Argentina S.A. 0 0
30,078 30,078 30,078 

 

 

	DOLE FOOD COMPANY, INC. Qualified Non-US Obligor (Q) and Non-Qualified Guarantor (NQ/G) I/C
Receivables and Notes from Non-Qualified (NQ) Balance by Company and Sub-ledger / Starting Date P3,
2005 / / Measurement Date P2, 2006 / Increase/ Entity Subledger Description I/C Receivables I/C
Notes Total I/C Receivables I/C Notes Total (Decrease) Dole Thomsen S.A. 00 0 30,078 0 30.078
30.078 3221 Agrica — Inversiones Agrica SA. 0 00 00 3471 CopdeBan 4,367 4,367 4,367 4,367 0 3934
OTSA- Operaciones Tropicales S.A. 4,179,074 4,179,074 5,351,986 5,351,986 1,172,912 3686 Tecnicas
Baltime de Colombia SA 4,183,441 0 4,183,441 5,356,353 0 5,356,353 1,172,912 3221 Agrica -
Inversiones Agrica SA. 0 0 0 0 0___Agrapecuaria San Gabriel Ltda. 0 0 0 0 0 0 0___3221 Agrica -
Inversiones Agrica S.A. 153,157 153,157 153,157 153,157 0 3471 CopdeBan 395,836 395,836 340,353
340,353 (55,483) 3800 S.F. de Guatemala S.A. 95,821 95,821 132,218 132,218 36,396 S.F. Co. de Costa
Rica 644.814 0 644,814 625.728 0 625,728 (19,086) 7250 Dole Comercializacion 16,200 16,200 86,400
86,400 70,200 Cia.Com.e Import. Vina del Mar 16,200 0 16,200 86,400 0 86,400 70,200 3934 OTSA-
Operaciones Tropicales S.A. 00 00 Dicori S.A. 0000000 3221 Agrica — Inversiones Agrica S.A. 9,538
9,538 9,538 9,538 0 3415 Transtrading Overseas Ltd. 2,000 2,000 2,000 2,000 0 3429 Banapluslnc.
1,381 1,381 1,381 1,381 0 3471 CopdeBan 817,384 817,384 1,675,698 1,675,698 858,314 7310 South
Africa — Oth Imports 0 0 0 0___Ubesa- Union de Ban. Ecuatorianos 830,303 0 830,303 1,688,617 0
1,688,617 858,314 3429 Banaplus Inc. 800 800 800 800 0___Megabanano 800 0 800 800 0 800 0___3471
CopdeBan 417 417 417 417 0___Ciesa- Comercial Ind. Ecuatoriano 417 0 417 417 0 417 0___3429 Banaplus
Inc. 400 400 400 400 0___Redamawal 400 0 400 400 0 400 0 3471 CopdeBan 174 174 174 174 0_
TransportesPormarSA 174 0 174 174 0 174 0___2040 Inversiones Floricola S.A. 5,545 5,545 0 0 (5,545)
3471 CopdeBan 1,802,136 1,802,136 3,334,438 3,334,438 1,532,301 Procarsa- Productos de Carton S.A.
1,807.681 0 1.807,681 3.334.438 0 3.334,438 1,526.757 3471 CopdeBan 68 68 2,216 2,216 2,148 3800
S.F. de Guatemala S.A. 6,478,879 6,478,879 7,810,134 7,810,134 1,331,254 3850 S.F. Nicaragua S.A.
983,415 983,415 983,415 983,415 0 7156 Dole France — Ripening 0 0 0 0 0___S.F. Honduras 7,462,363 0
7,462,363 8,795,766 0 8,795,766 1,333,403 3800 S.F. de Guatemala S.A. 0 0 22,200 22,200 22,200
Ventura Trading, Ltd. 0 0 0 22,200 0 22,200 22,200 0304 Miradero Fishing 5,919,000 5,919,000 0 0
(5,919,000) 3934 OTSA-Operaciones Tropicales S.A. 1,275,206 1,275,206 0 0 (1,275,206) 5041 Benvue
International Inc. — Ban 4,890 4,890 5,809 5,809 919 Benvue International Inc. — Cit 13,969 13,969
612,192 612,192 598,223 Benvue International Inc. — Dec 0 00 00 5661 Dole Pacific Gral. Services
Ltd. Phil. 20,113,282 20,113,282 22,908,284 22,908,284 2,795,002 3080 Castle & Cooke Worldwide
27,326,347 0 27,326,347 23,526.285 0 23.526,285 (3,800,062) 5311 Dole China Shanghai 6,589 6,589
6,589 6,589 0 5325 Dole China Qingdao 0 00 00 5325 Dole China Qingdao 0 0 0 0 0___3052 Dole China
Ltd. 6,589 0 6,589 6,589 0 6,589 0___5325 Dole China Qingdao 0 00 00

 

 

	DOLE FOOD COMPANY, INC. Qualified Non-US Obligor (Q) and Non-Qualified Guarantor (NQ/G) I/C
Receivables and Notes from Non-Qualified (NQ) Balance by Company and Sub-ledger / Starting Date P3,
2005 / / Measurement Date P2, 2006 / Increase/ Entity Subledger Description I/C Receivables I/C
Notes Total I/C Receivables I/C Notes Total (Decrease) 5601 Dole Korea, Ltd (TSC)-Ban 87,128 87,128
87,128 87,128 0 5661 Dole Pacific Gral. Services Ltd. Phil. 23,509 23,509 0 0 (23,509) 3706 Dole
Asia Ltd. 110.637 0 110,637 87,128 0 87.128 (23,509) 3397 Activos Golfito 291,568 291,568 291,568
291,568 0 3471 CopdeBan 0 00 00 3600 S.F. de Panama S.A. 2,570,961 2,570,961 2,577,893 2,577,893
6,932 3800 S.F. de Guatemala S.A. 177,757 177,757 4,089,473 4,089,473 3,911,716 3875 Dole do Brazil
8,850,817 8,850,817 8,850,817 8,850,817 0 3934 OTSA-Operaciones Tropicales S.A. 119,072,669
119,072,669 127,632,787 127,632,787 8,560,118 Benvue International Inc. — Ban 3,349,935 3,349,935
4,479,727 4,479,727 1,129,792 Benvue International Inc. — Pin 2,558,870 2,558,870 5,592,964
5,592,964 3,034,094 Benvue International Inc. — Cit 54,811 54,811 54,811 54,811 0 Benvue
International Inc. — Dec 31,423 31,423 31,423 31,423 0 Benvue International Inc. 12,703 12,703
43,642 43,642 30,939 5166 Dole Thailand, Ltd. 111 111 639 639 528 5311 Dole China Shanghai
5,017,760 5,017,760 5,025,084 5,025,084 7,324 5325 Dole China Qingdao 0 00 00 5361 Beijing Dole
Food Co Ltd 0 0 138,460 138,460 138,460 7129 V.B.H. 378,967 378,967 472,425 472,425 93,458 7250
Dole Comercializacion 360,870 360,870 3,830,895 3,830,895 3,470,025 7451 Dole Hellas 0 0 0 0 0_
3190 Dole Fresh Fruit Infl Ltd. 142,729,223 0 142,729,223 163.112,609 0 163.112,609 20,383,387 5041
Benvue International Inc. — Ban 9,000 9,000 40,000 40,000 31,000 3075 Dole Hong Kong 9,000 0 9,000
40,000 0 40,000 31,000 5166 Dole Thailand, Ltd. 368,310 368,310 480,167 480,167 111,857 5325 Dole
China Qingdao 0 00 00 5601 Dole Korea, Ltd (TSC) -Ban 9,950 9,950 9,950 9,950 0 5661 Dole Pacific
Gral. Services Ltd. Phil. 357 357 270 270 (88) 3145 Dole Philippines Inc. 378,618 0 378,618 490,387
0 490,387 111,769 5361 Beijing Dole Food Co Ltd 0 0 931,260 931,260 931,260 3605 Shanghai Dole
Yanhai Food Co. 0 0 0 931.260 0 931,260 931,260 9064 Enero S. A. de C. V. 0 0 0 0 0___3170 Fab.de
Manteca y Jabon Atlantida 0 0 0 0 0 0 0___5166 Dole Thailand, Ltd. 0 0 0 0 0___3060 Dole Japan 0 0 0
0 0 0 0___5325 Dole China Qingdao 0 0 0 0 0___3605 Shanghai Dole Yanhai Food Co. 0 0 0 0 0 0 0___7125
Dole Europe S.A. 411,320 411,320 1,032,355 1,032,355 621,035 7129 V.B.H. 59,119 59,119 0 0 (59,119)
7156 Dole France — Ripening 27,626 27,626 58,718 58,718 31,092 7250 Dole Comercializacion 26,591
26,591 21,454 21,454 (5,137) 7310 South Africa — Oth Imports 0 00 00 7451 Dole Hellas 5,953 5,953 0
0 (5,953) Dole Deutschland Gmbh 530,609 0 530,609 1,112,526 0 1,112,526 581,917 7129 V.B.H.
4,047,956 4,047,956 4,365,971 4,365,971 318,015 7156 Dole France — Ripening 1,499,995 1,499,995
723,023 723,023 (776,972) 7200 Dole Foods Spain 0 00 00 7250 Dole Comercializacion 7,201,089
7,201,089 2,213,009 2,213,009 (4,988,080) 7310 South Africa — Oth Imports 1,958,846 1,958,846
10,156,510 10,156,510 8,197,664 4085 Dole Fresh Fruit Europe 14.707,886 0 14,707.886 17,458,514 0
17.458.514 2,750,628 7129 V.B.H. 0 00 00 7451 Dole Hellas 2,319,652 2,319,652 4,134,206 4,134,206
1,814,554 7156 Dole France — Ripening 0 0 57,664 57,664 57,664 Comafrica 2,319.652 0 2.319,652
4.191.870 0 4,191,870 1,872,218

 

 

	DOLE FOOD COMPANY, INC. Qualified Non-US Obligor (Q) and Non-Qualified Guarantor (NQ/G) I/C
Receivables and Notes from Non-Qualified (NQ) Balance by Company and Sub-ledger / Starting Date P3,
2005 / / Measurement Date P2, 2006 / Increase/ Entity Subledger Description I/C Receivables I/C
Notes Total I/C Receivables I/C Notes Total (Decrease) 7125 Dole Europe S.A. 0 00 00 7127 Dole
Europe BV 0 00 00 7156 Dole France — Ripening 0 00 00 7310 South Africa — Oth Imports 0 00 00 7451
Dole Hellas 168,454 168,454 159,411 159,411 (9,043) 7127 Dole Europe BV 0 0 0 0 0___3006 Dole Italia
SpA 168.454 0 168,454 159.411 0 159,411 (9.043) Grand Total 210,157,723 179,236,090 389,393,813
248,177,811 1,598,051 249,775,862 (139,617,951)

 

 

	DOLE FOOD COMPANY, INC. Non-Qualified Guarantors (NQ/G) I/C Receivables with Non-Qualified
Companies (NQ) Balance by Company and Sub-ledger Starting Date P3 Measurement Date Increase/ Entity
Subledger Description 05 P2’06 (Decrease) 7125 Dole Europe S.A. 411,320 1,032,355 621,035 7129
V.B.H. 59,119 0 (59,119) 7156 Dole France — Ripening 27,626 58,718 31,092 7250 Dole
Comercializacion 26,591 21,454 (5,137) 7310 South Africa — Oth Imports 0 7451 Dole Hellas 5,953 0
(5,953) 3736 Dole Deutschland Gmbh 530,609 1,112,526 581,917 7129 V.B.H. 4,047,956 4,365,971
318,015 7156 Dole France — Ripening 1,499,995 723,023 (776,972) 7200 Dole Foods Spain 0 7250 Dole
Comercializacion 7,201,089 2,213,009 (4,988,080) 7310 South Africa — Oth Imports 1,958,846
10,156,510 8,197,664 7612 Saba Trading 0 Saba Frukt & Grant 1,542,968 64,221 (1,478,747) Saba
Fresh Cut 000 Banankompaniet 1,918,557 2,078 (1,916,479) Skandinaviska Banaimporten 0 2,550,854
2,550,854 4085 Dole Fresh Fruit Europe 18,169,411 20,075,667 1,906,256 7156 Dole France — Ripening
0 57,664 57,664 7451 Dole Hellas 2,319,652 4,134,206 1,814,554 3087 ComAfrica 2.319,652~ 4.191,870
1,872,218 7125 Dole Europe S.A. 0 7127 Dole Europe BV 0 7156 Dole France — Ripening 0 7310 South
Africa — Oth Imports 0 7451 Dole Hellas 168,454 159,411 (9,043) 3006 Dole Italia SpA 168,454
159,411 (9,043) Grand total 21,188,126~ 25,539,475 4,351,349

 

 

	DOLE FOOD COMPANY, INC. Qualified US Obligor (QUS), Qualified Non US Obligor (Q), Non-Qualified
Guarantors (NQ/G), Non-Qualified Companies (NQ) I/C Receivables with Non subsidiaries Balance by
Company and Sub-ledger Starting Date Measurement Date Increase/ Entity Subledger Description P3 05
P2’06 (Decrease) 3305 Estibadores del Tropico 75,424 0 (75,424) 3371 Fibras FYBX S. A. 468 435 (32)
3322 Standard Fruit Co de Costa Rica 75,892 435 (75,456) 3371 Fibras FYBX S. A. 19 36 17___3130 Cia.
Financiera de Costa Rica 19 36 T7___5116 Quantum Foods Co Proc.Pines 3,799 5,866 2,067 3080 Castle &
Cooke Worldwide 3,799 5,866 2,067 5116 Quantum Foods Co Proc.Pines 0 4,540,585 4,540,585 5511
Diamond Farms Inc. 27,853,346 30,111,695 2,258,349 5531 Sarangani Resources — Fresh 973,633 973,633
0___3145 Dole Philippines Inc. 28,826,979 35,625,913 6,798,934 5194 Thai American Products Ltd-Dec
214,576 473,098 258,522 3150 Dole Thailand Ltd. 214,576 473,098 258,522 5511 Diamond Farms Inc.
32,466 43,107 10,641 3295 Dole Pacific General Serv. Ltd. 32,466 43.107 10,641 5194 Thai American
Products Ltd-Dec 108,241 0 (108,241) 3295 Dole Pacific General Serv. Ltd. 108,241 0 (108,241) 7025
Fruchtuck Rostock 190,020 54,079 (135,941) 4170 Paul Kempowski & Co. Kg 190,020 54,079 (135,941)
Grand total 29,451,991 36,202,534 6,750,543

 

 

	DISCLOSURE SCHEDULE V Pension Plans List of Plans and Multiemployer Plan: Plan Number Plan Name 029
Consolidated Retirement Plan for Employees of Dole Food Company, Inc. 001 Western Conference of
Teamsters Pension Plan* * Multiemployer Plan

 

 

	SCHEDULE VI Existing Investments Solvest, Ltd. owns 35% of the issued and outstanding
common stock of Cookstown Financial, Ltd. After the 30th anniversary of the effective Services
Agreement, Solvest, Ltd. has the right to purchase 3,000 shares of common stock of Cookstown
Financial, Ltd. for the purchase price. In addition to the list of existing investments below,
Holdings and/or its Subsidiaries may own miscellaneous membership interests, participations, minor
portions of associations and similar nominal investments required under customary business
practices. Some percentages are rounded up to include nominal interests. DOLE FOOD COMPANY, INC.
CREDIT AGREEMENT (03- 28-03) Schedule VI — Existing Investments COUNTRY % % % % % %Effective OF
Directly Directly Directly Directly Directly Company Name Ownership INCORP Parent owned Parent
owned Parent owned Parent owned Parent owned COOKSTOWN FINANCIAL, unrelated 1 LTD 35.0000 Bermuda
Multiple Solvest, Ltd. 35.00% parties 65.00% Canary Dole Food unrelated 3 PLATANO CANARIO, S.A.
50.0000 Islands Multiple Espana 50.00% parties 50.00% Dole Chile, 4 AGROQUIVIR CHILE, S.A. 33.3300
Chile S.A. 33.33% Standard Fruit Company de Costa Rica, Unrelated 5 ESTIBADORA CARIBE, S.A. 25.0000
Costa Rica Multiple S.A. 25.00% parties 75% Standard Fruit 6 Fibras FYBX S.A. 50.0000 Costa Rica de
Costa Rica 50.00% Cookstown BANANAPUERTO PUERTO Financial 100.00 7 BANANERO S.A. 35.0000 Ecuador
Limited % INDUSTRIAL Y COMERCIAL Actividades Productos del unrelated 8 TRILEX, S.A. 40.0000 Ecuador
Multiple Agricolas S.A. 20.00% Literal S.A. 20.00% parties 60.00% 100.00 9 LANGOSTINOS, S.A.
10.0000 Ecuador Noa-Noa, S.a. % Dole Foreign unrelated NOA-NOA S.A. 19.8900 Ecuador Multiple
Holdings, Ltd. 19.89% parties 80.11% JAMAICAN PRODUCERS FRUIT DISTRIBUTORS 35.0000 England Solvest,
Ltd. 35.00%

 

 

	Dole France COFRULYS.A. 33.3300 France S.A.S. 33.33% COMPAGNIE FINANCIERE DE PARTICIPATION 40.0000
France Solves!, Ltd. 40.00% Paul Kempowski EUFRUCHT GmbH & Co. unrelated 14 FRUCHTIMPORT GMBH
33.0000 Germany Multiple KG 33.00% parties 67.00% Paul Kempowski FRUCHTVERTRIEB GmbH & Co.
unrelated 15 SCHWERINGmbH 44.0000 Germany Multiple KG 44.00% parties 56.00% Paul HAFRU HANSEATISCHE
Kempowski FRUCHTVERTRIEBSGESEL GMBH & Co. 16 LSCHAFT M.B.H. 30.0000 Germany KG 30.00% Paul
HANDELSGESELLCHAFT Kempowski FRUCHTRING mbH & CO. GmbH & Co, unrelated 17 KG 30.0000 Germany
Multiple KG 30.00% parties 70.00% Corporacion ALIMENTOS Bananera CONCENTRADOS Sociedad 100.00 18
SOCIEDAD ANONIMA 50.0000 Guatemala Anonima % Banana BANANERA NACIONAL Trading 100.00 SOCIEDAD
ANONIMA 50.0000 Guatemala Company % DESARROLLOS Banana AGRICOLAS TROPICALES, Trading 100.00 S.A.
50.0000 Guatemala Company % Corporacion Bananera GRAND DE ORO Sociedad 100.00 21 SOCIEDAD ANONIMA
50.0000 Guatemala Anonima % Corporacion Bananera SAN JUAN DEL RIO Sociedad Unrelated 22 SOCIEDAD
ANONIMA 42.5000 Guatemala Anonima 85.00% parlies 15% Bienes y Servicios, S. ALMACENES DE de R.L de
23 DEPOSITO, S.A. 16.0000 Honduras C.V. 16.00% Bienes y Servicios, S. ATLAS COMERCIAL DE de R.L de
24 HONDURAS 23.0000 Honduras C.V. 23.00% Bienes y Servicios, S. COMPANIA AZUCARERA de R.L de 25
CHOLUTECA, S.A. 0.4400 Honduras C.V. 0.44%

 

 

	Bienes y Servicios, S. COMPANIA A2UCARERA de R.L de 26 HONDURENA, S.A. 0.7800 Honduras C.V. 0.78%
Bienes y Servicios, S. COMPANIA DE SEGUROS de R.L de 27 LA CONTINENTAL, S.A. 3.5000 Honduras C.V.
3.50% Bienes y Servicios, S. INMOBILARIA DE CORTES, de R.L de 28 S.A. 8.4400 Honduras C.V. 8.44%
Bienes y Servicios, S. INVERSIONES LOMESA, de R.L de 29 S.A. 1.8000 Honduras C.V. 1.80% Kabushiki
Kaisha Dole (aka: Dole Fresh System, 30 AGRI PRODUCE CO. LTD 30.1000 Japan Multiple Japan, Ltd)
23.08% Ltd. 22.43% Dole Product Service (Japan), Limited (fka: SNOW DOLE Dole Food 31 CO, LTD)
50.0000 Japan Multiple Company, Inc. 50.00% Kamigumi 50.00% Kabushiki Kaisha Dole FLOWER SEASON
(aka: Dole unrelated 32 COMPANY, LIMITED 18.714 Japan Multiple Japan, Ltd) 18.71% parties 81.29%
Kabushiki Kaisha Dole FRESH REMIX (aka: Dole unrelated 33 CORPORATION 19.8700 Japan Multiple Japan,
Ltd) 19.87% parties 80.13% Kabushiki Kaisha Dote (aka: Dole unrelated 34 FRESH SYSTEMS, LTD. 31.269
Japan Multiple Japan, Ltd) 31.29% parties 68.73% Kabushiki Kaisha Dole (aka: Dole unrelated 35 K.
I. FRESH ACCESS, LTD 16.600 Japan Multiple Japan, Ltd) 16.60% parties 83.40% Dole Korea, DLC INC
30.0000 Korea Ltd. 30.00% DOLE LOGISTICS COMPANY, LTD. 66.0000 Korea Solvest, Ltd. 66.00% KOREA
FRESH SYSTEM, INC. 23.38 Korea Solvest, Ltd. 23.38% New Dole New unrelated 39 NZ RIPENERS LIMITED
24.9000 Zealand Multiple Zealand 24.90% parties 75.10% Sarangani Dole DA SYSTEM SOLUTIONS Resources
Philippines, 40 INC 32.0000 Philippines Multiple Corporation 30.00% Inc. 32.00%

 

 

	55 Sarangani Dole Fresh Resources Fruit 41 DIAMOND FARMS, INC. 28.0000 Philippines Multiple
Corporation 72.00% Company 15.00% West Foods 13.00% Dole Philippines. unrelated DOLMAR PRODUCTS,
INC. 30.0000 Philippines Multiple Inc. 30.00% parties 70.00% HOMELAND Dole DEVELOPMENT Diamond
Philippines, CORPORATION 30.0000 Philippines Multiple Farms, Inc. 70.00% Inc. 30.00% Homeland
PACIFIC INTERNATIONAL Development 100.00 44 TERMINAL SERVICES 30.0000 Philippines Co % Other
Shareholders Dole Fresh including 45 QUANTUM FOODS, INC. 40.0000 Philippines Multiple Fruit Company
40.00% nominees 60.00% Dole Philippines Dole Managerial SARANGANI PACKAGING Philippines, Employee
46 PRODUCTS CORPORATION 6.5000 Philippines Multiple Inc. 6.50% Provident Plan 73.33% Dole SARANGANI
RESOURCES Philippines, Mahintana DA System 47 CORPORATION 49.4100 Philippines Multiple Inc. 40.00%
Foundation 30.00% Solutions 30.00% Dole Philippines, 48 SARANGANI SEAFOOD INC. 26.2600 Philippines
Inc. 26.26% Dole Sarangani SARANGANI SEAFOOD, Philippines, Realty unrelated 49 INC. 17.0000
Philippines Multiple Inc. 17.00% Corporation 73,00% parties 10.00% Dole Foreign unrelated 50 SHOP
EXPRESS, INC. 40.0000 Philippines Multiple Holdings, Ltd 40.00% parties 60.00% Dole T’BOLI
AGRO-INDUSTRIAL Philippines, 51 DEVELOPMENT, INC. 7.5700 Philippines Inc. 7.57% Dole Foreign
T.A.I.C. unrelated KHAOANGKAEWCO,. LTD 49.0000 Thailand Multiple Holding II, Ltd. 49.00% Limited
15.99% parties 35.01% PANJATHANITOWER Khao Ang MANAGEMENT CO., LTD. 3.1100 Thailand Kaew Co. 3.11%
Castle & Cooke Dole Foreign Worldwide, unrelated 54 T.A.I.C. LIMITED 49.0000 Thailand Multiple
Holdings, Ltd. 24.50% Limited 24.50% parties 51.00% Castle & Cooke DOLE FRESH PRODUCE Dole Foreign
Worldwide, unrelated (THAILAND) LTD. 40.0000 Thailand Multiple Holdings, Ltd. 32.63% Limited 7.37%
T.A.I.C. 24.38% parties 35.62% BANANA PRODUCTS Dole CORP. 14.0000 U.S. Holdings, Inc. 14.00%

 

 

	SALINAS TRANSPLANTS COMPANY (Limited Bud Antle, 57 Partnership) 50.0000 U.S. Inc. 50.00% JAMAICA
PRODUCERS United unrelated 58 FRUIT DISTRIBUTORS 35.0000 Kingdom Multiple Solves!, Ltd. 35.00%
parties 65.00%

 

 

SCHEDULE VII

SCHEDULE VII Subsidiaries

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	1 STANDARD FRUIT, S.A. (ARGENTINA)
	 	 	100.0000	 	 	Argentina
	2 DOLE PACIFIC GENERAL SERVICES, LTD.
	 	 	100.0000	 	 	Bahamas
	3 TRANSTRADING OVERSEAS, LTD
	 	 	100.0000	 	 	Bahamas
	4 DOLE EXPORT COMPANY, LTD.
	 	 	100.0000	 	 	Barbados
	5 VERENIGDE BANANEN HANDELAREN N.V.
	 	 	100.0000	 	 	Belgium
	6 AGOURA LIMITED
	 	 	100.0000	 	 	Bermuda
	ARAUCARIA, LIMITED
	 	 	100.0000	 	 	Bermuda
	7 ASHFORD COMPANY, LTD.
	 	 	100.0000	 	 	Bermuda
	8 BALTIME LIMITED
	 	 	100.0000	 	 	Bermuda
	9 CAMARILLO, LIMITED
	 	 	100.0000	 	 	Bermuda
	10 DOLE ASIA, LTD.
	 	 	100.0000	 	 	Bermuda
	11 DOLE FOREIGN HOLDINGS, LTD.
	 	 	100.0000	 	 	Bermuda
	DOLE FOREIGN HOLDINGS II, LTD.
	 	 	100.0000	 	 	Bermuda
	12 DOLE INTERNATIONAL, LTD.
	 	 	100.0000	 	 	Bermuda
	13 DOLE NEW ZEALAND LTD.
	 	 	100.0000	 	 	Bermuda
	14 FLORAMERICA INVESTMENTS LTD.
	 	 	100.0000	 	 	Bermuda
	15 HOPS LIMITED
	 	 	100.0000	 	 	Bermuda
	16 INTERFRUIT COMPANY, LIMITED
	 	 	100.0000	 	 	Bermuda
	17 MAHELE, LIMITED
	 	 	100.0000	 	 	Bermuda
	18 MENDOCINO LIMITED
	 	 	100.0000	 	 	Bermuda
	19 REEFERSHIP MARINE SERVICES, LTD
	 	 	100.0000	 	 	Bermuda
	20 SOLAMERICA, LTD.
	 	 	100.0000	 	 	Bermuda
	21 SOLVEST, LTD.
	 	 	100.0000	 	 	Bermuda
	22 STANDARD FRUIT COMPANY (BERMUDA) LIMITED
	 	 	100.0000	 	 	Bermuda
	VENTURA TRADING LTD.
	 	 	100.0000	 	 	Bermuda
	23 DOLE BRASIL, LTDA
	 	 	100.0000	 	 	Brazil
	24 ALTALANOS TECHNOLOGY, INC.
	 	 	100.0000	 	 	British Virgin                   Islands
	25 ASPEN INTERNATIONAL, INC.
	 	 	100.0000	 	 	British Virgin                   Islands
	26 BANAPLUS INCORPORATED
	 	 	100.0000	 	 	British Virgin                   Islands
	27 BLUEWATER INDUSTRIES LIMITED
	 	 	100.0000	 	 	British Virgin                   Islands
	28 BOGOR CAPITAL LIMITED
	 	 	100.0000	 	 	British Virgin                   Islands
	29 BROOK INVESTMENT LIMITED
	 	 	100.0000	 	 	British Virgin                   Islands
	30 CARDANZ TECHNOLOGIES CORP.
	 	 	100.0000	 	 	British Virgin                   Islands
	31 INVERSIONES COMERTEX, S.A.
	 	 	100.0000	 	 	British Virgin                   Islands
	32 JOROKO INTERTRADE LTD.
	 	 	100.0000	 	 	British Virgin                   Islands
	33 LIVERPOOL INTERNATIONAL, S.A.
	 	 	100.0000	 	 	British Virgin                   Islands
	34 MARSELLA INTERNATIONAL, CORP.
	 	 	100.0000	 	 	British Virgin                   Islands
	35 MILANO TRADING CORPORATION
	 	 	100.0000	 	 	British Virgin                   Islands
	36 MONACO INVESTMENT CORP.
	 	 	100.0000	 	 	British Virgin                   Islands

1

 

Schedule VII

Page 2

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	37 NEWENT TRADING INC.
	 	 	100.0000	 	 	British Virgin Islands
	38 NOIR VENTURES CORP.
	 	 	100.0000	 	 	British Virgin Islands
	39 NORWICK TECHNOLOGIES CORP.
	 	 	100.0000	 	 	British Virgin Islands
	40 OPAL RESOURCES LTD.
	 	 	100.0000	 	 	British Virgin Islands
	41 POLAR TRADING CORP.
	 	 	100.0000	 	 	British Virgin Islands
	42 RIVERWOOD MANAGEMENT COMPANY INC.
	 	 	100.0000	 	 	British Virgin Islands
	43 DOLE FOODS OF CANADA LTD.
	 	 	100.0000	 	 	Canada
	44 PLATANO COMUNITARIO, S.A.
	 	 	100.0000	 	 	Canary Islands
	45 AGRICOLA CALIFORNIA LIMITADA
	 	 	100.0000	 	 	Chile
	46 AGRICOLA PENCAHUE LIMITADA
	 	 	100.0000	 	 	Chile
	47 AGRICOLA PUNITAQUI LIMITADA
	 	 	100.0000	 	 	Chile
	48 AGRICOLA RAUQUEN LIMITADA
	 	 	100.0000	 	 	Chile
	49 CARTONES SAN FERNANDO S.A.
	 	 	100.0000	 	 	Chile
	50 DOLE CHILE S.A.
	 	 	100.0000	 	 	Chile
	51 DOLE THOMSEN S.A.
	 	 	51.0000	 	 	Chile
	52 EMBALAJES STANDARD S.A.
	 	 	100.0000	 	 	Chile
	53 INVERSIONES DEL PACIFICO S.A.
	 	 	100.0000	 	 	Chile
	54 QINGDAO DOLE FOOD CO., LTD.
	 	 	100.0000	 	 	China
	55 SHANGHAI DOLE FOOD CO., LTD.
	 	 	100.0000	 	 	China
	56 C. I. AGRICOLA EL CASTILLO LTDA.
	 	 	100.0000	 	 	Colombia
	57 AGRICOLA EUFEMIA LTDA.
	 	 	100.0000	 	 	Colombia
	58 C. I. AGRICOLA GUACARI LTDA.
	 	 	100.0000	 	 	Colombia
	59 AGROPECUARIA SAN GABRIEL LTDA.
	 	 	100.0000	 	 	Colombia
	60 AGROPECUARIA SAN PEDRO LTDA.
	 	 	100.0000	 	 	Colombia
	61 AMERICAFLOR LTDA.
	 	 	100.0000	 	 	Colombia
	62 BANA LTDA.
	 	 	100.0000	 	 	Colombia
	63 COMPANIA EXPORTADORA DE PRODUCTOS
AGRICOLAS S.C.A.
	 	 	100.0000	 	 	Colombia
	64 C. I. COLOMBIAN CARNATIONS LTDA.
	 	 	100.0000	 	 	Colombia
	65 C. I. COMERCIALIZADORA CARIBBEAN LTDA.
	 	 	100.0000	 	 	Colombia
	66 C. I. CULTIVOS DEL CARIBE LTDA.
	 	 	100.0000	 	 	Colombia
	67 C. I. CULTIVOS SAN NICOLAS LTDA.
	 	 	100.0000	 	 	Colombia
	68 DISTRIBUIDORA DE FRUTA Y VEGETALES, S.A.
	 	 	100.0000	 	 	Colombia
	69 C. I. FLORAMERICA LTDA.
	 	 	100.0000	 	 	Colombia
	70 C. I. FLORES ALTAMIRA LTDA.
	 	 	100.0000	 	 	Colombia
	71 C. I. FLORES DE EXPORTACION LTDA.
	 	 	100.0000	 	 	Colombia
	72 C. I. FLORES LA FRAGANCIA LTDA.
	 	 	100.0000	 	 	Colombia
	73 C. I. FLORES LAS PALMAS LTDA.
	 	 	100.0000	 	 	Colombia
	74 C. I. FLORES PRIMAVERA LTDA.
	 	 	100.0000	 	 	Colombia
	75 C. I. FLORES SAN JOAQUIN LTDA.
	 	 	100.0000	 	 	Colombia
	76 INVERSIONES ORIHUECA LTDA.
	 	 	100.0000	 	 	Colombia
	77 C. I. JARDINES DE COLOMBIA LTDA.
	 	 	100.0000	 	 	Colombia
	78 C. I. JARDINES DEL VALLE LTDA.
	 	 	100.0000	 	 	Colombia
	79 C. I. OLYMPIA FLOWERS LTDA.
	 	 	100.0000	 	 	Colombia

-2-

 

Schedule VII

Page 3

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	80 C. I. PORCELAIN FLOWERS LTDA.
	 	 	100.0000	 	 	Colombia
	81 C. I. SANTA MONICA FLOWERS LTDA.
	 	 	100.0000	 	 	Colombia
	82 SERVICIOS TECNICOS BANANEROS LTDA.
	 	 	100.0000	 	 	Colombia
	83 C. I. SPLENDOR FLOWERS LTDA.
	 	 	100.0000	 	 	Colombia
	84 TECNICAS BALTIME DE COLOMBIA S.A.
	 	 	100.0000	 	 	Colombia
	85 AERO-FUMIGACION CENTROAMERICANA S.A.
	 	 	100.0000	 	 	Costa Rica
	86 AGROINDUSTRIAL PINAS DEL BOSQUE S.A.
	 	 	100.0000	 	 	Costa Rica
	87 AGROPECUARIA RIO JIMENEZ S.A.
	 	 	100.0000	 	 	Costa Rica
	88 ALMACENES ATALANTA S.A.
	 	 	100.0000	 	 	Costa Rica
	89 ALPPHA SIDERAL S.A.
	 	 	100.0000	 	 	Costa Rica
	90 BANANERA EL PORVENIR, S.A.
	 	 	100.0000	 	 	Costa Rica
	91 BANANERA LA PAZ, S.A.
	 	 	100.0000	 	 	Costa Rica
	92 COMPANIA BANANERA DEBA S.A.
	 	 	100.0000	 	 	Costa Rica
	93 COMPANIA BANANERA DEL SAN RAFAEL S.A.
	 	 	100.0000	 	 	Costa Rica
	94 COMPANIA BANANERA EL ENCANTO S.A.
	 	 	100.0000	 	 	Costa Rica
	95 COMPANIA FINANCIERA DE COSTA RICA S.A.
	 	 	100.0000	 	 	Costa Rica
	96 COMPANIA FRUTOS DE LA TIERRA S.A.
	 	 	100.0000	 	 	Costa Rica
	97 COMERCIALIZADORA E IMPORTADORA VINA DEL
MAR S.A.
	 	 	100.0000	 	 	Costa Rica
	98 DESARROLLO BANANERO LA ESPERANZA S.A.
	 	 	100.0000	 	 	Costa Rica
	99 DESARROLLO MELONERO DEL GOLFO, S.A.
	 	 	100.0000	 	 	Costa Rica
	100 DIVERSIFICADOS DE COSTA RICA DICORI, S.A.
	 	 	100.0000	 	 	Costa Rica
	101 DOLE SHARED SERVICES LIMITADA
	 	 	100.0000	 	 	Costa Rica
	102 ESTIBADORES DEL TROPICO, S.A.
	 	 	95.4500	 	 	Costa Rica
	103 ESTIBADORES GOLFITENOS, S.A.
	 	 	100.0000	 	 	Costa Rica
	104 HACIENDA LA ROSALIA S.A.
	 	 	100.0000	 	 	Costa Rica
	105 LA PERLA S.A.
	 	 	100.0000	 	 	Costa Rica
	106 ROXANA FARMS S.A.
	 	 	100.0000	 	 	Costa Rica
	107 SERVICIOS ADUANALES BANADOLE, S.A.
	 	 	100.0000	 	 	Costa Rica
	108 STANDARD FRUIT COMPANY DE COSTA RICA, S.A.
	 	 	100.0000	 	 	Costa Rica
	109 ACTIVIDADES AGRICOLAS S.A.
	 	 	100.0000	 	 	Ecuador
	110 AGROVERDE S.A.
	 	 	100.0000	 	 	Ecuador
	111 BANANACORP S.A.
	 	 	100.0000	 	 	Ecuador
	112 BANCUBER S.A.
	 	 	100.0000	 	 	Ecuador
	114 BRUNETTI S.A.
	 	 	100.0000	 	 	Ecuador
	115 COMPANIA NAVIERA AGMARESA, S.A.
	 	 	100.0000	 	 	Ecuador
	116 COMERCIAL INDUSTRIAL ECUATORIANA, S.A.
	 	 	85.5100	 	 	Ecuador
	117 FLORES MITAD DEL MUNDO LTDA.
	 	 	100.0000	 	 	Ecuador
	118 FRIOCONT S.A.
	 	 	100.0000	 	 	Ecuador
	119 FRUTBAN S.A.
	 	 	100.0000	 	 	Ecuador
	120 GRANELCONT S.A.
	 	 	100.0000	 	 	Ecuador
	121 GUAYAMI S.A.
	 	 	100.0000	 	 	Ecuador
	122 MEGABANANA S.A.
	 	 	100.0000	 	 	Ecuador

-3-

 

Schedule VII

Page 4

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	124 NAPORTEC S.A.
	 	 	100.0000	 	 	Ecuador
	125 PEMATIN S.A.
	 	 	100.0000	 	 	Ecuador
	126 PESCASEROLI S.A.
	 	 	100.0000	 	 	Ecuador
	127 PRODUCTORA CARTONERA, S.A.
	 	 	99.9700	 	 	Ecuador
	128 PRODUCTOS DEL LITORAL S.A.
	 	 	100.0000	 	 	Ecuador
	129 PROPOLISA, S.A.
	 	 	99.9700	 	 	Ecuador
	130 REDAMAWAL S.A.
	 	 	100.0000	 	 	Ecuador
	131 SIEMBRANUEVA S.A.
	 	 	100.0000	 	 	Ecuador
	132 SOCIEDAD AGROPECUARIA PIMOCHA C.A.
	 	 	100.0000	 	 	Ecuador
	133 TALLERES Y LLANTAS, S.A.
	 	 	100.0000	 	 	Ecuador
	134 TECNICOS Y ELECTRICISTAS S.A.
	 	 	100.0000	 	 	Ecuador
	136 TRANSPORTES POR MAR S.A.
	 	 	100.0000	 	 	Ecuador
	138 UNION DE BANANEROS ECUATORIANOS, S.A.
	 	 	100.0000	 	 	Ecuador
	139 ZANPOTI, S.A.
	 	 	100.0000	 	 	Ecuador
	140 ENERO S.A.
	 	 	80.3726	 	 	El Salvador
	141 DOLE EUROPE SAS
	 	 	100.0000	 	 	France
	142 DOLE FRANCE, SAS
	 	 	100.0000	 	 	France
	143 DOLE PACKAGED FOODS EUROPE SAS
	 	 	100.0000	 	 	France
	144 SOLEIL HOLDING FRANCE SA
	 	 	100.0000	 	 	France
	145 DOLE DEUTSCHLAND
BETEILIGUNGSGESELLSCHAFT MBH
	 	 	100.0000	 	 	Germany
	146 DOLE DEUTSCHLAND GMBH
	 	 	100.0000	 	 	Germany
	147 DOLE FRESH FRUIT EUROPE OHG
	 	 	100.0000	 	 	Germany
	148 PAUL KEMPOWSKI GMBH & CO. KG
	 	 	100.0000	 	 	Germany
	149 DOLE FRESH FRUIT HELLAS
	 	 	100.0000	 	 	Greece
	150 ENERGUA, S.A.
	 	 	100.0000	 	 	Guatemala
	151 LAS FRUTAS, S.A.
	 	 	100.0000	 	 	Guatemala
	152 SERVICIOS TECNICIOS PORTUARIOS, S.A.
	 	 	100.0000	 	 	Guatemala
	153 STANDARD FRUIT DE GUATEMALA, S.A.
	 	 	100.0000	 	 	Guatemala
	154 AGRICOLA SANTA INES, S.A.
	 	 	100.0000	 	 	Honduras
	155
AGROINDUSTRIA DEL CARIBE, S.A.
	 	 	100.0000	 	 	Honduras
	156 AGROINDUSTRIAL ALMA VERDE, S.A.
	 	 	100.0000	 	 	Honduras
	157 BANANERA RIO MAME, S.A.
	 	 	100.0000	 	 	Honduras
	158 BIENES Y SERVICIOS S DE R L DE CV
	 	 	97.1000	 	 	Honduras
	159 BIENES Y VALORES, S.A.
	 	 	97.1000	 	 	Honduras
	160 COMPANIA AGRICOLA EL PROGRESO, S.A.
	 	 	100.0000	 	 	Honduras
	161 COMPANIA AGRICOLA INDUSTRIAL CEIBENA, S.A.
	 	 	80.3726	 	 	Honduras
	162 COMPANIA AGRICOLA MAZAPAN, S.A.
	 	 	100.0000	 	 	Honduras
	163 COMPANIA AGROPECUARIA EL PORVENIR, S.A.
	 	 	100.0000	 	 	Honduras
	164 COMPANIA INVERSIONES MEDICAS NACIONALE S.A.
	 	 	99.8731	 	 	Honduras
	165 CLINICAS MEDICAS DEL AGUAN, S.A.
	 	 	99.8731	 	 	Honduras

-4-

 

Schedule VII

Page 5

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	166 COORDINADORA DE SERVICIOS DE TRANSPORTE,
SA
	 	 	100.0000	 	 	Honduras
	167 DESARROLLOS URBANOS LA CEIBA, S.A.
	 	 	100.0000	 	 	Honduras
	168 DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A.
	 	 	100.0000	 	 	Honduras
	169 ENERGUA S.A. SUCURSALL HONDURAS
	 	 	100.0000	 	 	Honduras
	170 EQUIPO PESADO S.A.
	 	 	99.8246	 	 	Honduras
	171
	 	 	 	 	 	 
	172 HOSPITAL COYOLES, S.A.
	 	 	99.8731	 	 	Honduras
	173 INDUSTRIA ACEITERA HONDURENA, S.A.
	 	 	63.6792	 	 	Honduras
	174 INVERSIONES Y VALORES DE MONTECRISTO, S.A.
	 	 	100.0000	 	 	Honduras
	175 LABORATORIOS Y SERVICIOS DE MERISTEMOS, S.A.
	 	 	100.0000	 	 	Honduras
	176 MANUFACTURAS DE CARTON, S.A.
	 	 	97.5715	 	 	Honduras
	177 MULTISERVICIOS, S.A.
	 	 	99.8264	 	 	Honduras
	178 PINA ANTILLANA, S.A.
	 	 	100.0000	 	 	Honduras
	179 PLASTICOS, S.A.
	 	 	99.7572	 	 	Honduras
	180 PRODUCTORA AGRICOLA DE ATLANTIDA, S.A.
	 	 	100.0000	 	 	Honduras
	181 SERVICIOS E INVESTIGACIONES AEREAS, SA
	 	 	100.0000	 	 	Honduras
	182 SERVICIOS HONDURENOS DE AGRICULTURA Y
RECURSOS
	 	 	99.4657	 	 	Honduras
	183 SOGAS, S.A.
	 	 	100.0000	 	 	Honduras
	184 STANDARD FRUIT DE HONDURAS, S.A.
	 	 	100.0000	 	 	Honduras
	185 VIGILANCIA Y SEGIRIDAD, S.A.
	 	 	100.0000	 	 	Honduras
	186 CASTLE & COOKE WORLDWIDE LIMITED
	 	 	100.0000	 	 	Hong Kong
	187 DOLE CHINA LIMITED
	 	 	100.0000	 	 	Hong Kong
	188 DOLE HONG KONG LIMITED
	 	 	100.0000	 	 	Hong Kong
	189 COMAFRICA
	 	 	100.0000	 	 	Italy
	190 DOLE ITALIA S.P.A.
	 	 	100.0000	 	 	Italy
	191 DOLE TERM S.R.L.
	 	 	51.0000	 	 	Italy
	192 FRATELLI ISELLA S.R.L.
	 	 	99.5000	 	 	Italy
	193 LA FIORITA
	 	 	100.0000	 	 	Italy
	194
MAGAZZINI FRIGORIFERI DI SANTA PALOMBA S.P.A.
	 	 	100.0000	 	 	Italy
	195 TROPICAL SHIPPING ITALIANA, T.S.I. S.P.A.
	 	 	100.0000	 	 	Italy
	196 KABUSHIKI KAISHA DOLE
	 	 	100.0000	 	 	Japan
	197 DFC FOODS, INC.
	 	 	100.0000	 	 	Korea
	198 DOLE KOREA, LTD.
	 	 	100.0000	 	 	Korea
	199 DOLE FRESH FRUIT INTERNATIONAL LIMITED
	 	 	100.0000	 	 	Liberia
	200 TROPICAL NAVIGATION (MALTA) LIMITED
	 	 	100.0000	 	 	Malta
	201 DOLE SHANGHAI CO., LIMITED
	 	 	100.0000	 	 	Mauritius
	202 COMERCIALIZACIONES SUNMEX MEXICANA, S.A. DE
C.V.
	 	 	100.0000	 	 	Mexico
	203 MEXICOTEC, S.A. DE C.V.
	 	 	100.0000	 	 	Mexico
	204 FLORES LUCITANIA S. DE R.L. DE C.V.
	 	 	100.0000	 	 	Mexico
	205 DOLE EUROPE BV
	 	 	100.0000	 	 	Netherlands
	206 DOLE HOLLAND BV
	 	 	100.0000	 	 	Netherlands

-5-

 

Schedule VII

Page 6

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	207 EXOTIC INTERNATIONAL BV
	 	 	60.0000	 	 	Netherlands
	208 FTK HOLLAND BV
	 	 	60.0000	 	 	Netherlands
	209 FTK ONROEREND BV
	 	 	60.0000	 	 	Netherlands
	210 NORDIC DISTRIBUTION BV
	 	 	60.0000	 	 	Netherlands
	211 FUMIGADORA NICARAGUENSE
	 	 	100.0000	 	 	Nicaragua
	212 STANDARD FRUIT DE NICARAGUA S.A.
	 	 	100.0000	 	 	Nicaragua
	213 INTEROCEAN FINANCIAL MANAGEMENT
CORPORATION
	 	 	100.0000	 	 	Pamama
	214 INVERSIONISTA FORTUNA, S.A.
	 	 	100.0000	 	 	Pamama
	215 INVERSIONISTA ZARATI, S.A.
	 	 	100.0000	 	 	Pamama
	216 BENVUE INTERNATIONAL, INC.
	 	 	100.0000	 	 	Panama
	217 BLOCK INVESTMENTS, INC.
	 	 	100.0000	 	 	Panama
	218 COMERCIAL AGROFLOR, S. DE R. L.
	 	 	100.0000	 	 	Panama
	219 DELTA TREE ENTERPRISES, S. DE R. L.
	 	 	100.0000	 	 	Panama
	220 DOLE AVIATION, INC.
	 	 	100.0000	 	 	Panama
	221 DOLE FRESH FRUIT INTERNATIONAL, INC.
	 	 	100.0000	 	 	Panama
	222 FLOWER INTERNATIONAL, S. DE R. L.
	 	 	100.0000	 	 	Panama
	223 GALANA INTERNACIONAL, S. DE R. L.
	 	 	100.0000	 	 	Panama
	224 IMPORTADORA Y EXPORTADORA NOPAL, S. DE R. L.
	 	 	100.0000	 	 	Panama
	225 IMPORTADORA Y EXPORTADORA ROVEGO, S. DE R. L.
	 	 	100.0000	 	 	Panama
	226 INVERSIONES CROWN, S. DE R. L.
	 	 	100.0000	 	 	Panama
	227 INVERSIONES FLORICOLA S. DE R. L.
	 	 	100.0000	 	 	Panama
	228 NICOLLE INTERNATIONAL, S. DE R. L.
	 	 	100.0000	 	 	Panama
	229 OPERACIONES TROPICALES, S.A.
	 	 	100.0000	 	 	Panama
	230 PEYTON FLOWERS, S. DE R. L.
	 	 	100.0000	 	 	Panama
	231 PRELL CORPORATION
	 	 	100.0000	 	 	Panama
	232 SINGLE TREE CORPORATION
	 	 	100.0000	 	 	Panama
	233 STANDARD FRUIT DE PANAMA, S.A.
	 	 	100.0000	 	 	Panama
	234 TEATREE, INC.
	 	 	100.0000	 	 	Panama
	235 TRIPLEJAY INVESTMENT CORP., S.A.
	 	 	100.0000	 	 	Panama
	236 COPDEBAN S.A.C.
	 	 	100.0000	 	 	Peru
	237 DOLE PHILIPPINES, INC.
	 	 	99.6154	 	 	Philippines
	238 IT & COMMUNICATIONS PHILIPPINES, INC.
	 	 	99.6154	 	 	Philippines
	239 DOLE
POLAND SP.ZO.O.
	 	 	100.0000	 	 	Poland
	240 MIRADERO FISHING CO., INC.
	 	 	100.0000	 	 	Puerto Rico
	241 DOLE SOUTH AFRICA LTD
	 	 	100.0000	 	 	South Africa
	242 FRUIT CARE SERVICES
	 	 	100.0000	 	 	South Africa
	243 DOLE COMERCIALIZATION
	 	 	100.0000	 	 	Spain
	244 DOLE FOOD ESPANA
	 	 	100.0000	 	 	Spain
	245 VIUDA DE SABATE
	 	 	100.0000	 	 	Spain
	246 AB BANAN-KOMPANIET
	 	 	100.0000	 	 	Sweden
	247 AB JAMAICA BANANER
	 	 	100.0000	 	 	Sweden
	248 ASK CENTRALEN AB
	 	 	100.0000	 	 	Sweden

-6-

 

Schedule VII

Page 7

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	249 FRANS A SANDEN AB
	 	 	100.0000	 	 	Sweden
	250 S ATTEHOGEN OSTRA 3 KB
	 	 	100.0000	 	 	Sweden
	251 SABA BLOMMOR AB
	 	 	100.0000	 	 	Sweden
	252 SABA DISTRIBUTION AB
	 	 	100.0000	 	 	Sweden
	253 SABA FRESH CUTS SA
	 	 	100.0000	 	 	Sweden
	254 SABA
FRÜKT & GRÖNT AB
	 	 	100.0000	 	 	Sweden
	255 SABA TRADING AB
	 	 	100.0000	 	 	Sweden
	256 SABA TRADING HOLDING
	 	 	100.0000	 	 	Sweden
	257 SKANDINAVISKA BANANIMPORTEN AB
	 	 	100.0000	 	 	Sweden
	258 STOCKHOLM FRUKTIMPORT AB
	 	 	100.0000	 	 	Sweden
	259 DOLE THAILAND, LTD
	 	 	64.3300	 	 	Thailand
	260 THAI AMERICAN FOOD CO., LTD.
	 	 	100.0000	 	 	Thailand
	261 DOLE
FRESH FRUIT MED GIDA ÜRÜNLERI TICARET
VE A.S.
	 	 	100.0000	 	 	Turkey
	262 AG 1970, INC.
	 	 	100.0000	 	 	U.S.
	263 AG 1971, INC.
	 	 	100.0000	 	 	U.S.
	264 AG 1972, INC.
	 	 	100.0000	 	 	U.S.
	265 ALYSSUM CORPORATION
	 	 	100.0000	 	 	U.S.
	266 APACHE GROVE LAND PROGRAM 1970
(PARTNERSHIP)
	 	 	55.9774	 	 	U.S.
	267 APACHE GROVE LAND PROGRAM 1971
(PARTNERSHIP)
	 	 	50.2437	 	 	U.S.
	268 APACHE GROVE LAND PROGRAM, 1972 LIMITED
(PARTNERSHIP)
	 	 	66.3795	 	 	U.S.
	269 APACHE GROVE LAND, 1970 LIMITED
(PARTNERSHIP)
	 	 	55.9774	 	 	U.S.
	270 APACHE GROVE LAND, 1971 LIMITED
(PARTNERSHIP)
	 	 	50.2437	 	 	U.S.
	271 BANANERA ANTILLANA (COLOMBIA), INC.
	 	 	100.0000	 	 	U.S.
	272 BARCLAY HOLLANDER CORPORATION
	 	 	100.0000	 	 	U.S.
	273 BLUE ANTHURIUM, INC.
	 	 	100.0000	 	 	U.S.
	274 BUD ANTLE, INC.
	 	 	100.0000	 	 	U.S.
	275 CALAZO CORPORATION
	 	 	100.0000	 	 	U.S.
	276 CALICAHOMES, INC.
	 	 	100.0000	 	 	U.S.
	277 CALIFORNIA POLARIS, INC.
	 	 	100.0000	 	 	U.S.
	C.B. NORTH, LLC
	 	 	100.0000	 	 	U.S.
	C.B. SOUTH, LLC
	 	 	100.0000	 	 	U.S.
	278 CERULEAN, INC.
	 	 	100.0000	 	 	U.S.
	279 CLOVIS CITRUS ASSOCIATION
	 	 	100.0000	 	 	U.S.
	280 COOL ADVANTAGE, INC.
	 	 	100.0000	 	 	U.S.
	281 COOL CARE, INC.
	 	 	100.0000	 	 	U.S.
	282 COUNTY LINE MUTUAL WATER COMPANY
	 	 	100.0000	 	 	U.S.
	283 DELPHINIUM CORPORATION
	 	 	100.0000	 	 	U.S.
	284 DIVERSIFIED IMPORTS CO.
	 	 	100.0000	 	 	U.S.
	285 DNW SERVICES COMPANY
	 	 	100.0000	 	 	U.S.

-7-

 

Schedule VII

Page 8

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	286 DOLE ABPIK, INC.
	 	 	100.0000	 	 	U.S.
	287 DOLE ARIZONA DRIED FRUIT AND NUT COMPANY
	 	 	100.0000	 	 	U.S.
	288 DOLE ASSETS, INC.
	 	 	100.0000	 	 	U.S.
	DOLE BERRY COMPANY, LLC
	 	 	100.0000	 	 	U.S.
	289 DOLE CARROT COMPANY
	 	 	100.0000	 	 	U.S.
	290 DOLE CITRUS
	 	 	100.0000	 	 	U.S.
	291 DOLE DF&N, INC.
	 	 	100.0000	 	 	U.S.
	292 DOLE DIVERSIFIED, INC.
	 	 	100.0000	 	 	U.S.
	293 DOLE DRIED FRUIT AND NUT COMPANY, A
CALIFORNIA GENERAL PARTNERSHIP
	 	 	100.0000	 	 	U.S.
	294 DOLE EUROPE COMPANY
	 	 	100.0000	 	 	U.S.
	295 DOLE FARMING INC.
	 	 	100.0000	 	 	U.S.
	DOLE FOOD COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	296 DOLE FOODS FLIGHT OPERATIONS, INC.
	 	 	100.0000	 	 	U.S.
	297 DOLE FRESH FLOWERS, INC.
	 	 	100.0000	 	 	U.S.
	298 DOLE FRESH FRUIT COMPANY
	 	 	100.0000	 	 	U.S.
	299 DOLE FRESH VEGETABLES, INC.
	 	 	100.0000	 	 	U.S.
	DOLE HOLDING COMPANY, INC.
	 	 	100.00	 	 	U.S.
	300 DOLE HOLDINGS, INC.
	 	 	100.0000	 	 	U.S.
	301 DOLE LAND COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	302 DOLE LOGISTICS SERVICES, INC.
	 	 	100.0000	 	 	U.S.
	303 DOLE NORTHWEST, INC.
	 	 	100.0000	 	 	U.S.
	304 DOLE OCEAN CARGO EXPRESS, INC.
	 	 	100.0000	 	 	U.S.
	305 DOLE OCEAN LINER EXPRESS, INC.
	 	 	100.0000	 	 	U.S.
	306 DOLE ORLAND, INC.
	 	 	100.0000	 	 	U.S.
	307 DOLE PACKAGED FOODS CORPORATION
	 	 	100.0000	 	 	U.S.
	DOLE PACKAGED FOODS, LLC.
	 	 	100.0000	 	 	U.S.
	308 DOLE SUNFRESH EXPRESS, INC.
	 	 	100.0000	 	 	U.S.
	310 E.T. WALL COMPANY
	 	 	100.0000	 	 	U.S.
	311 EARLIBEST ORANGE ASSOCIATION, INC.
	 	 	100.0000	 	 	U.S.
	312 FALLBROOK CITRUS COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	313 FLOWERNET, INC.
	 	 	100.0000	 	 	U.S.
	314 THE IKON CORPORATION
	 	 	51.0000	 	 	U.S.
	315 LA PETITE D’AGEN, INC.
	 	 	100.0000	 	 	U.S.
	316 LINDERO HEADQUARTERS COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	317 LINDERO PROPERTY, INC.
	 	 	100.0000	 	 	U.S.
	318 M K DEVELOPMENT, INC.
	 	 	100.0000	 	 	U.S.
	319 MALAGA COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	320 MUSCAT, INC.
	 	 	100.0000	 	 	U.S.
	321 OAHU TRANSPORT COMPANY, LIMITED
	 	 	100.0000	 	 	U.S.
	322 OCEANVIEW PRODUCE COMPANY
	 	 	100.0000	 	 	U.S.
	323 PACIFIC COAST TRUCK COMPANY
	 	 	100.0000	 	 	U.S.
	324 PAN-ALASKA FISHERIES, INC.
	 	 	100.0000	 	 	U.S.

-8-

 

Schedule VII

Page 9

	 	 	 	 	 	 	 
	 	 	% Effective	 	 	 
	 	 	Ownership	 	 	 
	COMPANY NAME	 	*	 	 	COUNTRY OF INCORP
	325 PRAIRIE VISTA, INC.
	 	 	100.0000	 	 	U.S.
	RANCHO MANANA, LLC
	 	 	100.0000	 	 	U.S.
	RANCHO MILAGRO, LLC
	 	 	100.0000	 	 	U.S.
	326 RENAISSANCE CAPITAL CORPORATION
	 	 	100.0000	 	 	U.S.
	327 ROYAL PACKING, CO.
	 	 	100.0000	 	 	U.S.
	328 SAW GRASS TRANSPORT, INC.
	 	 	100.0000	 	 	U.S.
	329 STANDARD FRUIT AND STEAMSHIP COMPANY
	 	 	100.0000	 	 	U.S.
	330 STANDARD FRUIT COMPANY
	 	 	100.0000	 	 	U.S.
	331 SUN COUNTRY PRODUCE, INC.
	 	 	100.0000	 	 	U.S.
	332 SUN GIANT, INC.
	 	 	100.0000	 	 	U.S.
	333 VELTMAN TERMINAL CO.
	 	 	100.0000	 	 	U.S.
	334 WAHIAWA WATER COMPANY, INC.
	 	 	100.0000	 	 	U.S.
	336 WEST FOODS, INC.
	 	 	100.0000	 	 	U.S.
	337 ZANTE CURRANT, INC.
	 	 	100.0000	 	 	U.S.
	338 DOLE U.K. LIMITED
	 	 	100.0000	 	 	United Kingdom
	339 FTK LONDON LTD
	 	 	60.0000	 	 	United Kingdom
	340 DOLE DE VENEZUELA, S.A.
	 	 	100.0000	 	 	Venezuela
	341 INVERSIONES AGRICA, S.A.
	 	 	100.0000	 	 	Venezuela
	342 INVERSIONES DEL AGRO, C.A.
	 	 	100.0000	 	 	Venezuela

-9-

 

	SCHEDULE VIII Dote Food Company, Inc., et. al. Scfodufe of frisurance Coverages — Asset&rsed
Coverages Schedule VIII — Insurance Summary Asof.AprtUOOe Line of Coverage Insurer Policy Period
Limit Major Deductible/SIR Description of Major Coverage Major Exclusions | Property World*id%
Prope’W Policy Lloyds of London. AIG. Everest Re, 4/1/06-07 1100 million S4ml occurrence and annual
Alt Risk” ol direct physical loss 01 damage to aU property of the properly of whets » which Oofe is
Cenain leal and personal property including but no( fimrted AWAC. Swiss Re. ACE, Zurich. Max Re.
aggregate, subject to: reapwtsfcte Coverage also incudes business inlwrupfem, which is Dole’s
actual toss sustained bom id land and land anprovemeois, drainage ditches and MARP J250),
aj oihar Peril mawiem direct loss or damage to Dole’s real personal property which results
in Dole being wholly or grading, all growing craps, ttees. pfanB. loads and bodges. tte* fete
bo! (or partially prevented from producing goods or from continuing business operations 01
services currency, money precious metals or stones animals wind subject to mm of S250k, toofc,
$35million 5% pel unit critical EQ subject Cafitbrnra and Hawaii earthquake E100 million
loammofSSOk; SlmlSood — Earthquake and flood separately, $200 million ;«csss S*)ortoVide Property
Policy Lloyds of Condon. ACE 4/1/06-07 $200 million x/s of $100 million -axcfcfding Critical
Earthquake Major suWmils *iirch apply lo this policy aie -California. Hawaii. Japan earthquake •
Earthquake and Hood. $200 million — Netherlands Hood obss WwicVide Property Policy Hanover
Re. ACE, fie. ACE. AIG. Zucich. ~~ VM&07 1200 million x/s of $300 Exclusions due to sublimit:
excluding Crtical Eanhqualie WIS — All flood and earthquake Marine Marine Package Policy Norwegian.
Lloyds “ 11/30/05-06 Sscton A: Hi* S Machinery Partial hud value; slpulafedby vessel Section A
250,000 Pirecf damage lo an insured vesse/ including mscfunery and equpmenl War. msdwwcy,
mlervenlwn by stale power Section 8 Hull Inferesl and Freight Interest Tola) hull value x/ol H8M
pDlicy fbjfjhesl hull Section B “one Follows Mm of undeitytng policy Follows torm ol underlying
policy value is 130 million) Section C Wai Risks Tolalhuflvslue {highest hull value «$30 SecliwiC
none Direct damage 10 vessels caused by war or wartike condilions. caplute al sea. piracy andmuliny
War between mapr world powers million) Section 0 Detention 160 Days Section D. MDaysVZI Days
Protects Doleliom loss of pwfdanrfadditional expenses incurred due ipctetenuono’ owned vessels
Claims parfby any oiher insuiance Cargo AIMA 11/30/05-06 $30ml any one vessefahy one conveyance/any
$1000.000 aB daims (Incl Diiecl physical loss or damage resutag (ram awl insured pard to Oote’s
cargo and coniainets white in Loss oTmarkei deteriorationTinhereni vice one location. $30ml annual
aggregate for EQ. basic War & SR 8 CC) excepl Iransii Aoodand windsform for owned or leased
$2,000.030 anyone accvdew containers and related equpment; $10ml any or occurrence fw EQ, flood one
bacge $500k any one shipment of livestocl and Windslwm for owned 01 teased containers and related
equipment Loss of Hiie JA» vessels) Mendoano 11/30/05-06 I1.5milliwiperoccur(ence7 14 Days Loss of
revenue due lo vessel being wholly w patiially damaged from an insured peril War. insolvency 5-year
aggregate Aviation Corporate USAIG SHoW-Of stipufaied replacement value tor hull; S300 none
TbtKtpatif bo<% in|wy and physical damage ansug oo! of Ihe wwieishp. maintenance or use ol Owned
cargo minion for TPL owned, ‘mduslriat aid” 01 corporale siraaH, non-ownea ana afl. and airport
premises Provides physical damage coverage lo Dole’s owned aircraft Agriculture USAIG 3/16/06-07 no
coverage for hull: $50 million for TPL none Third party bodily injury andphysica^amage arising oui
otTheownership. maintenance o- use of owned agricultural aircraft Schedule Vlti insurance
Asset-based Coverages

 

 

	Dole Food Company, Inc. Schedule of Insurance Coverages — Other Liability Coverages Schedule VIII •
Insurance Summary As of April 1, 2006 Major Line of Coverage Insurer Policy Period Limit
Deductible/S/R Major Description of Coverage ___Major Exclusions Financial Coverages Directors &
Officers • National Union Fire Ins. Co. 8/22/05-9/1/06 $20 million $500,000 Protects Dole’s
directors and officers against wrongful acts Employment practices (e.g. committed in their capacity
as directors and officers of Dote discrimination, harassment, etc.): claims must follow a
stipulated process D&O -First excess___Federal Insurance Company 8/22/05-9/1/06 $20 million x/s of
$20 million x/s of $20 million n/a Side A Only (Non-Indemnifiable Claims) _Side A Only
(Non-lndernnifiable Claims) Follows form of underlying policy D&O-Second excess AXIS Reinsurance
Company 8/22/05-9/1/06___$10 million x/s of $40 million n/a Side A Only (Non-lndemnifiable Claims)
Follows form of underlying policy ___EPLI Federal Insurance Company 6/22/05-9/1/06 $20 million
$500,000 / Protects Dole against wrongful employee practice related Nuclear events; claims must
follow a $2,500,000 acts stipulated process (Class Action) Crime National Union Fire Ins. Co,
6722/05-9/1/06 $10 million $1,000,0X10 Protects against employee dishonesty, dissolution and
Telephone fraud; claims must follow forgery stipulated process Fiduciaiy National Union Fire Ins,
Co, 6/22/05-9/1/06 $20 million $150.000 Protects against wrongful acts related to its
administration of None employee benefit plans Special Coverage Lloyds 11/19/03-06 $25 million n/a *
excludes run-off coverage for Going Private transaction Marine Protection & Indemnity North of
England & Gard 2/20/06-07 $4.25 billion $10,000 crew Bodrty Injury pfovodedfet ctew acddenl and
sickness Potkiliwi. ctra’iiei” Ouvned cargo, coffisionrtfemage loliedor floating $50,000 all other
liability for loss of or damage to chartered vessets. Loss or damage to non- cbjarB owrwd cargo
cariied on CWe ownedWiattered vessels Mailre Temwal Opeotora LiaMfyftlMA jj/jjjjg.jgSWrnto $100,000
Physical bss or damage to Itwd party vessels and their cargo including
Owfledvesseh.diaileiedveKelE,nployees of iniuiies to Ihird parties while vessels are proceeding lo
and hom premises assured, war and/or docking antfbr foaiftKi/untoading while in (he Dote owned
and/or operated temunal Casualty Domestic General Liability Zurich Insurance Company 6/30/05-06
miilioriToccurFence) $500.000 irtderrmTftcationand defense for bodily Injury aWproperty Pollution.
Asbestos. Sifca. Employmerrt $4 million (aggregate) damage to others arising out of Dole’s
operations practices Domestic Automobile Liability Zurich Insurance Company6/30/05-06 $3 million
$500,000 IndVmnTficaiion and defense foTbodify inpjry and “property Physical damage for Dole-owned
vehicles damage to others arising out of Dole’s use of automobiles Canadian GL Zurich Insurance
Company 6/30/05-06 $2 million (occurrence) $500.000 Same as domestic GL same as domestic GL $4
million (aggregate) Foieign GUAL AIG 6/30/05-06 $1 million (occurrence) S1,000 — EE Benefits Auto:
excess and difference in conditions coverage over (be Peslickles, AIDS, Fungus $2 mjjjion
(aggfegaiej local automobile liability policies Domestic Work Comp & Employers Zurich Insuiance
Company 6/30/05-06 Statutory (WC) $500,000 Provides protection lor Dole employees sustaining bodily
Self-insured, states, contractual liability, Liability $1 million (EL) injury and/or economic loss
resulting from occupational employment practices injuries disease Sett-insured Wofk Comp Excess
Continental Casualty Company &/3Q/C&-06 Statutory (WC) S
I ,000.000 In self-insured states, provides
excess protection for Dole Contractual liability, employment practices $2 million (EL) employees
sustaining bodily injury and/or economic toss resufting from occupations) Injuries or disease
FoTeignVlC’EL 6/30/05-06 statutory (VVC) n/a Protection for Dole employees bodily injury and/or
sustaining Pesticides, Fumazon $1 million (EL) economic loss resulting from occupational injuries
or diseases as Workers’ Compensation law is applicable to stales and countries Excess Automobile
Liability Colony National 6/30/05-06 $2 million xs S3 million N/A Follows form of underlying
automobile policy Follows form of underlying automobile policy Umbrella (first excess) American
Guarantee 6/30/05-06 $25 million x/of underlying $0 Follow the terms and conditions of underlying
policies: Follows form of underlying policy & Liability Insurance Company Domestic General
Liability, Auto Liability, and Employer’s Liability’, foreign General Liability, and Auto
Liability; Aircraft | Liability. Excjsa^LMbiHy (seconiiexcess) fteiionat Unionf
^InsuranceCo.of Pittsburgh 6/30/05-06 $50miljjon x/ of ot$25millton n/a Follows
form^oUinderlylng^pollcy Follows form of underlying policy Dtceas Liabilitx Jgwd excess)^ ___AWAC
6/30/05-06 $50 million k/o( $75 million n/a FoHowsJorm ojAinderjylng^pojcy Follows form of
unjerjy_B>g_poiicy___Excess LtobiHy (fourth excess) Starr Excess 6/30/05-06 $75 million x/ot
$125mHlion n/a Follows form of underlying policy FotoH^fmj^l’jndBr’1’ingpolicy Punitive Wrap (first
$75ml Umb/Exces Hanseatic, Starr Excess 6/30/D5-06 SrSmillion n/a Pays punilive damages losses
Follows form ot underlying policy Schedule VIII insurance Other Liability Coverages

 

 

	`SCHEDULE IX- EXISTING LIENS ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE
Calazo Corporation AZ Secretary of State DENY 4/3/03 200312557823 All assets AG 1970. Inc. CA
Secretary of State DBNY 4/3/03 0309760064 All assets AG 1971, Inc. CA Secretary of State DBNY
4/3/03 0309760004 All assets AG 1972, Inc. CA Secretary of State DBNY 4/3/03 0309760001 All assets
Alyssum Corporation CA Secretary of State DBNY 4/03/03 0309760002 All assets Barclay Hollander
Corporation CA Secretary of State DBNY 4/3/03 0309460660 All assets Bud Antle, Inc. CA Secretary of
State DBNY 4/3/03 0309460685 All assets Calicahomes, Inc. CA Secretary of State DBNY 4/3/03
0309760044 All assets California Polaris, Inc. CA Secretary of Slate DBNY 4/3/03 03094606S8 All
assets CB North, LLC CA Secretary of State DBNY 12/29/04 047010326730 All assets CB South, LLC CA
Secretary of State DBNY 12/29/04 047010327004 All assets Dole Abpik, Inc. CA Secretary of State
DBNY 4/3/03 0309760082 All assets Dole Arizona Dired Fruit and Nut Company CA Secretary of State
DBNY 4/03/03 0309760075 All assets Dole Carrot Company CA Secretary of State DBNY 4/03/03
0309760101 All assets Dole Citrus CA Secretary of Stale DBNY 4/03/03 0309760092 All assets
DoleCitrus CASecretary of State Safeco Credit Co. 4/03/03 0317760492 Precautionary filing relating
to a Inc. lease transaction Dole DF&N, Inc. CA Secretary of State DBNY 4/03/03 0309460661 All
assets Dole Dried Fruit and Nut CA Secretary of State DBNY 4/03/03 0309460663 All assets Company
Dole Farming, Inc. CA Secretary of State DBNY 4/03/03 0309760570 All assets Ameritech Credit
9/15/00 0026660751 All controllers, modems, Dole Fresh Vegetables, Inc. CA Secretary of State
Amentech Credit computers and other date Dole Fresh Vegetables, Inc. CA Secretary of State
Continuation Continuation Corporation 7/22/05 05-70351874 transmission devices, etc. 7/22/05
05-70351874 subject to lease agreement. Dole Fresh Vegetables, Inc. Technology Credit 5/2/01
0112760717 Superstack 3 Switch 4900SX Dole Fresh Vegetables, Inc. CASecretary of State 5/2/01
0112760717 Corporation subject to lease agreement. Dole Fresh Vegetables, Inc. CA Secretary of
State Crown Credit 7/15/01 0119960141 Crown lift truck

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Dole Fresh Vegetables, Inc.
CA Secretary of State Crown Credit g/03/01 0122160496 Crown lift truck 2001 full car vacuum tube
Dole Fresh Vegetables, Inc. CA Secretary of State r am credit Leasing 10/29/01 0130260875 system
and related equipment Service Corporation subject to lease agreement. Dole Fresh Vegetables, Inc.
CASecretary of State IBM Credit 0221460254 Precautionary filing relating to Corporation IBM
software Dole Fresh Vegetables, Inc. CA Secretary of State Crown Credit 3/30/02 0224660233 Crown
lift truck Company Dole Fresh Vegetables, Inc. CASecretary of State US Bancorp 9/03/02 0224860329 2
digital imaging systems Dole Fresh Vegetables, Inc. CASecretary of State US Bancorp 9/30/02
0227461026 1 digital imaging system Dole Fresh Vegetables, Inc. CA Secretary of State Crown Credlt
1/06/03 0300960470 Crown lift truck Dole Fresh Vegetables, Inc. CASecretary of State Crown Credit
3/27/03 0308760167 Crown lift truck Dole Fresh Vegetables, Inc. CA Secretary of State Trust 7/18/03
0320460568 1 jumbo trash compactor Dole Fresh Vegetables, Inc. CA Secretary of State Equipment
Finance, 8/15/03 0323160449 TfoiWrftfruck Inc. ease Dole Fresh Vegetables, Inc. CASecretary of
State Com 9/02/03 0324760716 Crown lift truck Dole Fresh Vegetables, Inc. CASecretary of State
Crown Credit 0333960298 Cascade single double pallet ‘ Company handlers Dole Fresh Vegetables, Inc.
CA Secretary of State FCC Equipment 12/18/03 0335760646 1 Caterpillar Dole Fresh Vegetables, Inc.
CA Secretary of State IBM Credit LLC 2/09/04 0404860026 JBMToftware fi’mg re’a“ng f° p ___.. , . 2
field vacuum tube systems and Dole Fresh Vegetables, Inc. CASecretary of State t-arm creait Leasing
2/!8/04 0405560915 related equipment subject to Serv.ces Corporation lease agreement. Dole Fresh
Vegetables, Inc. CA Secretary of State Toyota Motor Credit 4/12/04 0411460446 Toyota forklifts

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Corporation/Prolift
Industrial Equipment Co.LLC De Lage Landen Dole Fresh Vegetables, Inc. CA Secretary of State
Financial Services 5/14/04 0414360036 Leased equipment Inc. Toyota Motor Credit 12/08/04
047007087023 Dole Fresh Vegetables, Inc. CA Secretary of State t-orporation/wolitt Amendment
Amendment Toyota forklifts Industrial Equipment )2/]{)/04 0470076337 ___Co. LLC Dole Fresh
Vegetables, Inc. CA Secretary of State IPS Capital 12/13/04 047008730160 Leased equipment Dole
Fresh Vegetables. Inc. CA Secretary of State IPS Capital 6/28/04 0418460191 Leased equipment Dole
Fresh Vegetables, Inc. CA Secretary of State DBNY 4/03/03 0309760205 All assets c c H’ii ‘ ‘
^’e’t’vacuum tu’)e system and Dole Fresh Vegetables, Inc. CA Secretary of State rarmcrean Leasing
2/11/05 057015716911 related equipment subject to ervices po a ion lease agreement. 2 field vacuum
tube systems and Dole Fresh Vegetables, Inc. CA Secretary of State Farm ureuu ceasing 3/14/05
057019139904 related equipment subject to lease agreement. Dole Fresh Vegetables, Inc. CA Secretary
of State IPS Capital 04/11/05 057022758086 Leased equipment De Lage Landen Dole Fresh Vegetables,
Inc. CA Secretary of State Financial Services 057024680113 Leased equipment De Lage Landen Dole
Fresh Vegetables, Inc. CA Secretary of State Financial Services 4/27/05 057024680234 Leased
equipment Inc. Dole Fresh Vegetables, Inc. CA Secretary of State Printpack, Inc. 9/2/05
057040107731 Consigned inventory Dole Fresh Vegetables, Inc. CA Secretary of State IPS Capital
12/20/05 057052578897 Leased equipment Toyota Motor Credit 1/07/Q6 067054500330 Dole Fresh
Vegetables, Inc. CA Secretary of State Corporation/Prolift ud/uxjwjju Toyota forklifts Industrial
Equipment

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Co. LLC Dole Orland, Inc. CA
Secretary of State DENY 4/03/03 0309760210 All assets Dole Visage, Inc. CA Secretary of State DBNY
4/03/03 0309760246 All assets E. T. Wall Company CA Secretary of State DBNY 4/03/03 0309760237 All
assets Earlibest Orange Association, CA Secretary of State DBNY 4/03/03 0309760189 Ail assets
Fallbrook Citrus Company, Inc. CA Secretary of State DBNY 4/03/03 0309760263 All assets Lindero
Headquarters Company, CASecretary of State DBNY 4/03/03 0309760256 All assets Lindero Property,
Inc. CA Secretary of State DBNY 4/03/03 0309760553 All assets Milagro Ranch, LLC CASecretary of
State DBNY 4/03/03 047010328257 All assets Oceanview Produce Company CASecretary of State DBNY
4/03/03 0309760619 All assets 0316960442 Oceanview Produce Company CA Secretary of State AGCO
Finance LLC 6/13/03 Amendment Certain leased equipment 03353COQ99 Oceanview Produce Company CA
Secretary of State Power Machinery 2/13/04 0405161033 Certain leased equipment L- cuter Oceanview
Produce Company CA Secretary of State Power Machinery 3/17/04 0408460939 Certain leased equipment
Trairie Vista, Inc. CA Secretary of State DBNY 4/03/03 0309460686 All assets Rancho Mariana, LLC CA
Secretary of State DBNY 12/29/04 04701329147 AH assets Royal Packing Co. CA Secretary of State
c^oration 7/l7/01 0120060236 Tractor Royal Packing Co. CA Secretary of State Coloration 7/17/01
0120060291 Tractor Royal Packing Co. CA Secretary of State Case Credit g/01/01 0121960321 Tractors
1 Corporation Royal Packing Co. Case Credit CA Secretary of State case credit 10/24/02 0229860552
Tractors Corporation Royal Packing Co. CA Secretary of State Case Credit 10/24/02 0229860559
Tractors

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Royal Packing Co. CA
Secretary of State Case Credit 1/08/03 0301360408 Tractors Royal Packing Co. CA Secretary of State
Case Credit 2/18/03 0305260338 Tractors Royal Packing Co. CA Secretary of State DENY 4/03/03
0309760591 _’ All assets Royal Packing Co. CA Secretary of State AmwicaLLC 10/26/05 057046390802
Tractor Veltman Terminal Co. ‘ CA Secretary of State ~ DBNY ~ 4/03/03 0309760609 All assets DHM
Holding Company, Inc. DE Secretary of State DBNY 4/03/03 30878820 All assets Dole Holding Company,
LLC DE Secretary of State DBNY 3/29/04 40881229 All assets Dole Holding Company, LLC DE Secretary
of State DBNY 3/29/04 40881237 All assets Dole Holding Company, LLC DE Secretary of State DBNY
7/23/04 42071944 All assets Dole Food Company, Inc. DE Secretary of State IBM Credit ]]/27/0]
22000028 Leased IBM equipment and Corporation software Dole Food Company, Inc. DE Secretary of
State IBM Credit 2Q Leased IBM equipment and Corporation software Dole Food Company, Inc. DE
Secretary of State IBM Credit 20J64354 Leased IBM equipment and 1 Corporation software Dole Food
Company, Inc. DE Secretary of State IBM Credit 09/2Q/02 22424m Leased IBM equipment and y }
Corporation software Dole Food Company, Inc. DE Secretary of State DBNY 4/03/03 30878853 All assets
Dole Food Company, Inc. DE Secretary of State IPS Capital 12/19/03 40034738 Leased equipment Dole
Food Company, Inc. DE Secretary of State IBM Credit LLC 01/06/04 40256174 Uased IBM equipment and
Dole Food Company, Inc. DE Secretary of State IBM Credit LLC 09/09/04 42533059 UasedlBM equipment
and Dole Food Company, Inc. DE Secretary of State IBM Credit LLC 09/23/04 42678862 Leased IBM
equipment and Dole Food Company, Inc. ~ DE Secretary of State IPS Capital 9/20/04 42691584 Leased
equipment Forsythe 10/05/04 42791855 Dole Food Company, Inc DE Secretary of State Technology,
Amendment Amendment Leased computer equipment | I Inc./MeArthur | 12/01/04 | 42791855 |

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Associates, Inc. Dole Food
Company, Inc. DE Secretary of State IBM Credit LLC 05/23/05 51581801 Lwsedl IBM equipment and Dole
Food Company, Inc. DE Secretary of State IBM Credit LLC 08/11/05 52494798 Leased IBM equipment and
Dole Food Company, Inc. DE Secretary of State IBM Credit LLC 10/13/05 53164341 Leased BM equipment
and Dole Food Company, Inc. DE Secretary of State IBM Credit LLC 10/14/05 53180339 LeasecHBM
equipment and Dole Food Company, Inc. DE Secretary of State IBM Credit LLC 11/21/05 53610087
UasecHBM equipment and Bananera Antillana (Columbia) DE Secretary of State DENY 4/03/03 30875289
All assets Clovis Citrus Association DE Secretary of State ~ DBNY 3/04/03 030878747 All assets
Delphinium Corporation DE Secretary of State DBNY 3/04/03 30878838 All assets Dole Europe Company
DE Secretary of State DBNY 4/03/03 30878846 All assets Dole Foods Flight Operations, DE Secretary
of State DBNY 4/03/03 30878861 All assets Dole Foods Flight Opeations Secretary of State General
Electric 30845423 Bombadier Global Express Inc. Capital Corporation aircraft Dole Fresh Flowers,
Inc. DE Secretary of State Miami Office 2/20/02 20635288 Copier systems Dole Fresh Flowers, Inc. DE
Secretary of State DBNY 4/03/03 30878887 All assets Dole Fresh Flowers, Inc. DE Secretary of State
Raymond Leasing 7/15/03 32020769 Watering systems ] Corporation & ‘ Dole Fresh Flowers, Inc. DE
Secretary of State Crown Credit 01/03/05 50001520 Crown lift truck Company Dole Fresh Flowers, Inc.
DE Secretary of State General Electric 01/03/05 50003013 Leased equipment | Capital Corporation
Dole Fresh Flowers, Inc. DE Secretary of State Crown Credit 01/03/05 50005331 Crown lift truck
Company Dole Fresh Flowers, Inc. | DE Secretary of State | Crown Credit | 01/03/05 | 50005356 |
CrowrTlift truck

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Company Dole Fresh Flowers,
Inc. DE Secretary of State Crown Credit 01/03/05 50005380 Crown lift truck Dole Fresh Flowers, Inc.
DE Secretary of State Crown Credit 06/15/05 51836817 GNBBarteries Dole Holding Company, LLC DE
Secretary of State DBNY 07/23/04 ___40881229 ~ All assets Pole Holding Company. Inc. DE Secretary of
State DBNY 03/29/04 40881237 All assets Dole Holding Company, LLC DE Secretary of State DBNY
03/29/04 42071944 Shares of DoleFood Company, Pole Northwest, Inc. DE Secretary of State DBNY ‘
04/3/03 ‘ 30878879 All assets Dole Sunfresh Express, Inc. DE Secretary of State DBNY 04/3/03
30878903 All assets Standard Fruit and Steamship Company DE Secretary of State DBNY 04/3/03
30878895 All assets Standard Fruit Company DE Secretary of State DBNY 04/3/03 30878697 All assets
Sun Country Produce, Inc. DE Secretary of State DBNY 04/3/03 30878705 All assets West Foods, Inc.
DE Secretary of State DBNY 04/3/03 30878721 All assets Cool Advantage, Inc. FL Secured Transaction
DBNy MB/03 200303648250 All assets Cool Care, Inc. FL Secured Transaction y 200303648269 All assets
Registry 20030364S277 Flowernet, Inc. FL Secured I ransacti on DBNy Q4/3/()3 Amendment All assets
Keglstry 20030491843X Saw Grass Transport, Inc. FL Secured Transaction DBNY 04/3/03 200303648285
All assets DNW Services Company WA Department of DBNy 04/3/03 2003-098-9527-1 All assets v
Licensing Pacific Coast Truck Company WA Department of DBNY 04/3/03 2003-098-9525-7 All assets
WADeartmntof General Motors 3/22/96 96-082-0312 Pacific Coast Truck Company Acceptance Amendment
Amendment Motor vehicles and accessories Corporation 10/21/99 1999-294-0712

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Continuation
Continuation 10/20/00 2000-294-0070 Amendment Amendment 10/29/04 2004-307-5834-6 International
Truck 02/05/02 2002-051-1455-1 WA Department Engine Amendment Amendment Pacific Coast Truck Company
Licensm Corporation and/or 06/12/02 2002-163-1973-0 Trucks and trailers Navistar Financial
Amendment Amendment Corporation 06/22/05 2005-173-97S3-6 5/15/03 2003-139-2342-7 In lieu of
continuation for File International Truck Amendment Amendment and Engine 1/12/04 2004-012-1753-7
Pacific Coast Truck Company WA Department of Corporation and/or Amendment Amendment office of the
Secretary of State Llcenslng Navistar Financial 7/15/04 2004-197-6006-3 of the State of Alaska; all
inventory manufactured or Corporation Amendment Amendment 6/22/05 2005-173-9755-0 distnbuted by IC
Corporation 6/12/03 2003-168-1042-7 International Truck Amendment Amendment In lieu of continuation
for File Wa and Engine 1/12/04 2004-012-1754-4 Numbers 126236, 126236 and Pacific Coast Truck
Company uepartment ot Corporation and/or Amendment Amendment 460020 filed in the office of the
Licensing Navistar Financial 7/15/04 2004-197-6007-0 Secretary of State of the State Corporation
Amendment Amendment ofAlaska 6/22/05 2005-173-9756-7 Pacific Coast Truck Company WA Department of
Toyota Motor Credit 2003-241-3397-6 Toyota fork)ift model Licensing Corporation Pan-Alaska
Fisheries, Inc. WA Department of DBNy 04/3/03 2003-098-9526-4 All assets Licensing Diversified
Imports Co. NV Secretary of State DBNY 04/3/03 2003009378-6 All assets Dole Assets, Inc. NV
Secretary of Stale DENY 04/3/03 2003009379-8 All assets Dole Fresh Fruit Company NV Secretary of
State DENY 04/3/03 2003009380-1 All assets Dole Holdings, Inc. NV Secretary of State DBNY 04/3/03
2003009381-3 All assets Dole Logistics Services, Inc. NV Secretary of State DENY 04/3/03
2003009382-5| All assets

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE “Dole Ocean Cargo Express,
Inc. NV Secretary of State ‘ DENY 04/3/03 2003009384-9 All assets Dole Ocean Liner Express, Inc. NV
Secretary of State DBNY 04/3/03 2003009383-7 All assets Renaissance Capital Corporation. NV
Secretary of State DBNY 04/3/03 200300938S-1 All assets Sun Giant, Inc. NV Secretary of State DBNY
04/3/03 2003009386-3 All assets Blue Anthurium, Inc. HI Bureau of Conveyances DBNY 04/04/03
2003-062776 All assets Cerulean, Inc. HI Bureau of Conveyances DBNY 04/04/03 2003-062777 All assets
Dole Diversified, Inc. HI Bureau of Conveyances DBNY 04/04/03 2003-062765 All assets Dole Land
Company, Inc. HI Bureau of Conveyances DBNY 04/03/03 2003-062766 All assets Dole Packaged Foods HI
Bureau of Conveyances DBNY 04/04/03 2003-062767 All assets Corporation La Petitie D’Agen, Inc. HI
Bureau of Conveyances DBNY 04/03/03 2003-062775 All assets MK Development, Inc. HI Bureau of
Conveyances DBNY 04/03/03 2003-062768 AH assets Malaga Company, Inc. HI Bureau of Conveyances DBNY
04/03/03 2003-062769 All assets Muscat, Inc. HI Bureau of Conveyances DBNY 04/03/03 2003-062770 All
assets LimitedTM513011 Company, HI Bureau of Conveyances DBNY 04/03/03 2003-062771 All assets
Mortgage, Security Agreement, Wahiawa Water Company, Inc. HI Bureau of Conveyances DBNY 4/03/03
2003-061441 Assignment of Leases, Rents Statement and Fixture Filing Wahiawa Water Company, Inc. HI
Bureau of Conveyances DBNY ~ 4/03/03 2003-062772 All assets Zante Currant, Inc. HI Bureau of
Conveyances DBNY 4/03/03 2003-062774 All assets Dole Fresh Fruit International Bank of America,
Precautionary filing in DC Recorder of Deeds 11/15/01 2001110459 Limited N.A. connection with a
lease Dole Fresh Fruit Internationa] DC Recorder of Deeds DBNY 04/07/03 2003040117 All assets
Limited All right, title and interest in the Dole Fresh Fruit International DC Recorder of Deeds
DBNY 12/22/03 2003183975 Bahamian Flag vessel, Dole Lim’ted Costa Rica All right, title and
interest in the uole fresh fruit International DC Recorder of Deeds DBNY 12/22/03 2003183980
Bahamian Flag vessel, Dole Llmlted I I | | I Honduras

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE All right, title and
interest in the Dole Fresh Fruit International DC Recorder of Deeds DENY 12/22/03 2003183981
Bahamian Flag vessel, Dole California All right, title and interest in the Limited DC Recorder of
Deeds DENY 12/22/03 2003183982 Bahamian Flag vessel, Dole Honduras A!) right, title and interest in
the Ventura Trading Ltd. DC Recorder of Deeds DENY 01/03/05 2005000587 Bahamian Flag vessel, Dole
Europa All right, title and interest in the Ventura Trading Ltd. DC Recorder of Deeds DENY 01/03/05
2005000591 Bahamian Flag vessel, Dole Costa Rica All right, title and interest in the Ventura
Trading Ltd. DC Recorder of Deeds DENY 01/03/05 2005000557 Bahamian Flag vessel, Dole California
All right, title and interest in the Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05
2005000561 Bahamian Flag vessel, Tropical . Sky All right, title and interest in the Ventura
Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000574 Bahamian Flag vessel, Tropical Star All
right, title and interest in the Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000575
Bahamian Flag vessel, Tropical Star All right, title and interest in the Ventura Trading Ltd. DC
Recorder of Deeds DBNY 01/03/05 2005000578 Bahamian Flag vessel, Tropical Mist All right, title and
interest in the Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000579 Bahamian Flag
vessel, Dole Asia Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000585 All right,
tifc and interest in the I Bahamian Flag vessel, Dole

 

 

	ENTITY JURISDICTION SECURED PARTY FILING FILING NUMBER COLLATERAL DATE Africa All right, title and
interest in the Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000589 Bahamian Flag
vessel, Dole America All right, title and interest in the Ventura Trading Ltd. DC Recorder of Deeds
DBNY 01/03/05 2005000593 Bahamian Flag vessel, Dole Honduras All right, title and interest in the
Ventura Trading Ltd. DC Recorder of Deeds DBNY 01/03/05 2005000602 Bahamian Flag vessel, Dole
Ecuador All right, title and interest in the Ventura Trading Ltd. DC Recorder of Deeds DBNY
01/13/05 2005006216 Bahamian Flag vessel, Tropical Morn

 

 

	SCHEDULE X SCHEDULE X Capitalization Part A None Part B None.

 

 

	SCHEDULE X Schedule XI Existing Letters of Credit — Term Loan LETTERS OF CREDIT AND GUARANTIES
OUTSTANDING 11-Apr-06 ISSUER DOLE ENTITY BENEFICIARY/PURPOSE UP/GUARANTY NO- ISSUANCE DATE EXPIRY
PATE AMOUNT FXRATE USD Governmental / Regulatory Fortis Bat* Dole Packaged Foods Tax Representation
Services DB LOC#30 2/1/2004 Open #eu# 20,000.00 1.2118 $ 24.236.00 6/17/2006 Bank of Nova Scotia
Dote Food Company, Inc. G18572/177477 6/17/2002 30 day automatic #eu#106,332.19 1.2118 .28.853.35
Ban* of Nova Scotia Dote Food Company, inc Standby(8572/177479 6/17/2002 30 day #eu# 369,645.04
1.21.8 447.935 86 SocGen. Paris Murisseries Franceses Odeadom N/A 9/1/1997 Open Ended 47,259.20 .2
8 $ 57.266.70 SocGen, Paris Dote France & Olhers Odeadom N/A 2/2/2000 Open Ended 30,363.70 .2 6
36,794.73 Deutsche Bank DFFE OHG Bundesanstalt Fur Landwirtschad und Ernahrung DB GUAR#9 12/4/2003
Open Ended 2.250,000.00 .2 6 2,726.550.00 Deutsche Bank DFFE OHG Zollaml Antwerpen DB LOC#1 1
7/8/2003 Open Ended 499,000.00 .2 6 604.688.20 Deutsche Bank Comafrica Amministrazione delle Dogane
- Riceviloria di Livorno D8 GUAR#17 8/2/2003 Open Ended 1.033,915.00 2 a 1.252,898.20 Deutsche Bank
Comafrica Amministrazione dalle Dogane — Ricevitoria di Livorno DB GUARS18 6/3/2003 Open Ended
3,000.000.00 .2 8 3,635,400.00 Deutsche Bank Kempowskl GmbH & Co. KG Bundeeanstalt Fur
Landwirtschaft und Ernahrung DB GUARS22 11/18/2003 Open Ended 64,574.30 .2 8 78,251.14 Deutsche
Bank Comafrica Mmstero Del Commercio DB GUAR#26 12/1/2003 12/31/2006 1.560.000.00 .2 6 1,914.644.00
Soc Gen DFFE OHG Hauptzollam! Hamburg-Hafen DB GUAR#35 4/27/2004 Open Ended 2,500,000.00 .2 8
3,029,500.00 Soc Gen Dole Fresh Fruit Europe OHG Bundesanstalt Fur Landwirtschaft und Ernahrung DB
GUAR #52 11/10/2004 Unlimited 138,000.00 .2 8 167,228.40 Deutsche Bank Dole Comercializacion S.A.
Direccao Geral das Contribufcoes e Impostos OB GUAR #72 7/30/2005 7/30/2006 99,344.50 .2 6
120.365.67 Deutsche Bank Dole Comercializacion S.A. Direccao Geral das Contribuicoes e Impostos DB
GUAR #74 9/1/2005 9/1/2006 232.363.49 .2 6 261,578.08 Deutsche Bank Dote Fresh Fruit Europe OHG
Zollamt Antwerp DB GUAR #60 12/5/2005 Unlimited 499.000.00 .2 6 604,688.20 Deutsche Bank. Kempowski
GmbH & Co. KG Bundesanstalt fur Landwirtschaft und Ernahrung DB GUAR #61 12/23/2005 Open Ended
46,524.00 .2 a 58,801.38 Deutsche Bank Platano Canario, S.A. Secrelaria General del Comercio
Exterior DB GUAR #82 12/12/2005 Open Ended 106,500.00 .2 8 129,056.70 Deutsche Sank Dote Food
Espana. S.A.U. Aduana da Sagunto DB GUAR #83 12/30/2005 Open Ended 700,000.00 .2 6 848,260.00
Deutsche Bank DFFE OHG Bundesanstalt fur Landwirtschaft und Ernahrung DB GUAR #84 12/9/2005 Open
Ended 106.500.00 .2 8 129,056.70 Deutsche Bank Comafrica Minstero Del Commercio Estero — Italy OB
GUAR #85 12/13/2005 Open Ended 48.525.00 .2 B 58,602-60 Deutsche Bank DFFE OHG Bundesanstalt fur
Landwirtschaft und Ernatwung DB GUAR #86 12/9/2005 Open Ended 49.000.00 .2 8 59,376.20 SocGen Dole
France SAS Odeadom DB GUAR #91 1/12/2006 Open Ended 200,450.00 .2 8 242.905.31 Deutsche Bank Dote
Fresh Fruit Europe OHG Hauptzollamt Hamburg D8 GUAR #92 12/28/2005 Unlimited 3,200,000.00 .2 8
3.877.760.00 Deulsche Bank Dole Foods Espana Secretaria General del Comercio Exterior DB GUAR #94
1/27/2006 Open Ended 71.795.00 .2 8 87.001 18 SocGen Dole France SAS ONlFLVH (European
Administration} DB GUAR #95 2/6/2006 8/31/2006 30,000.00 .2 6 36,354.00 Deutsche Bank Platano
Canario. S.A. Secrelaria General del Comercio Exterior DB GUAR #97 2/14/2006 Open Ended 42,600.00
        .2 8 61,622.63 Deutsche Bank Dole Food Espana. S.A.U. Secretafia General del Comercio Erteriot
06GUAR3/10/2006 Open Ended 71,795.00 .2 8 87,001 18 Deutsche Bank Dole Italia S.pA. Ministeio delte
AtttvKa Pfoduttive — Italy DB GUAR #101 3/17/2006 12/31/2009 20,000.00 .2 8 24,236.00 Deutsche Bank
Dole Hellas Ltd MiniStero delle
 Produttive — Italy DB GUAR #102 3/17/2006 12/31/2009 15.000.00 .2 a
18,17700 Deutsche Bank Dole Fresh Fruit Europe OHG Hauptzollamt Hamburg-Hagen DB GUAR#103 4/7/2006
Open Ended 2.500,000.00 .2 B 3,0j9,500.og^ Governmental / Regulatory Sub tal 23.846.813.44 Trade
Deutsche Bank Kempowski GmtH& Co. KG Cobana Fruchting GmbH & Co. KG DB GUAR #73 10/12/2005 Open
Ended 3.800.000.00 .2 a 4,604.840.00 Deutsche Bank Kempowski GmbH & Co. KG Hauptzollamt Kiel DB
GUAR #75 10/12/2005 Open Ended 20.000.00 .2 8 24.236.00 Deutsche Bank Dote Italy CHEP Italia s.r.l.
DB GUAR #76 10/11/2005 9/30/2006 37,000.00 .2 6 44,636.60 SocGen Dole France SAS Agrexco DB GUAR
#78 11/1/2005 9/30/2006 400.000.00 .2 8 484,720.00 SocGen Dole France SAS Limouna Souss DB GUAR #77
11/12005 9/30/2006 100,000.00 .2 a 121.180.00 Deulsche Bank VBH Agro-Logic DB GUAR #79 12/2/2005
6/30/2006 193,500.00 .2 B 234,483.30 SocGen Dole Fresh Fruit Europe OHG Frutas de Honduras SA DB
GUAR #93 1/24/2006 10/28/2006 97,500.00 .2 8 na.150.50 Trade Subtotal 5,632.446.40 Standby

 

 

	Schedule XI Page 2 Bank of America — London Dole Food Company. Inc. UK Vessels OB LOCK25 11/21/2003
11/B/3007 £15,344.938.00 .7390 26.684.647.18 Bank of America-London Dote Food Company, Inc. UK
Vessels DB LQCS25 2/8/2006 2/8/2008 £15.369,573.00 .7390 $ 26.727,687.45 SocGan, arts Dole France
Sogaris Investissement N/A 7/13/1999 7/1/2007 32,176.28 .21 8 38,991.22 Soc Gen. arts Dole France
Sociele de distribution Internationale N/A 5/10/1999 Open Ended 7,922,67 .21 a 9,600.69 Soc Gen.
aris Dole France SDI N/A 12/9/1998 Open Ended 7.622.45 .21 6 9.236.88 Soc Gen. aris Dole France
Scomite Economique Agricole Fruits N/A 6/26/1999 Open Ended 3,048.98 .21 6 3,694.75 Soc Gen. aris
Dole Europe SAS Holding Vendome N/A 3/23/2000 11/30/2009 75,693-45 .2 8 91,725.32 Soc Gen, aris
Dote Europe SAS SCI 16 Av Kteber N/A 4/23/2002 Open Ended 80,305.09 .2 8 97,313.71 Soc Gen. Paris
Dote Europe SAS Holding Vendome N/A 10/6/1997 4/1/2007 32,304.28 .2 8 39,146.33 SocGen, Paris Dole
France Total Raffinage Distribution N/A 11/27/2001 Open Ended 15,000.00 .2 6 18.177.00 Deulsche
Bank Kempowski GmbH & Co. KG Josel Ahorner ACT DB GUARS27 11/25/2003 Open Ended 30,000.00 .2 8
36.354.00 SocGen Dole France SAS SMINA DB GUAR#2B 12/19/2003 Open Ended 15.511.00 .2 8 18,796.23
Soc Gen Dole France SAS SEMMINT — Ripening Rooms 08 GUARS31 3/8/2004 Open Ended 35.041.00 .2 8
42.462.68 Standby Subtotal 53.818,033.45 Total Outstanding 1 S3.299.293.29

 

 

SCHEDULE XII

Schedule XII- Certain Foreign Security Documents, Foreign Subsidiaries Party to
Foreign Security Documents, etc.

Part A and B- Foreign Credit Party Pledge Agreements and Local Law Pledge Agreements

	 	•	 	Accounts Pledge Agreement (with each German Subsidiary) dated 28 April 2003
	 
	 	•	 	Intellectual Property Rights Pledge Agreement (with each German Subsidiary)
dated 28 April 2003
	 
	 	•	 	Account Pledge Agreement by all Italian subsidiaries.
	 
	 	•	 	Assignments of Receivables Agreement by all Italian subsidiaries.
	 
	 	•	 	Bond Pledge Agreement of the Canadian Guarantor
	 
	 	•	 	Commercial Pledge over receivables, executed in a public deed by the
Chilean Guarantors
	 
	 	•	 	Pledge Without Conveyance over inventory, executed in a public deed by the
Chilean Guarantors
	 
	 	•	 	Industrial Pledge over property, executed in a public deed by the Chilean Guarantors
	 
	 	•	 	Pledge Agreement executed and delivered by the Columbia Guarantors
	 
	 	•	 	Pledge Agreement (for motor vehicles) executed and delivered by
Costa Rican Guarantors
	 
	 	•	 	Pledge Agreement (for inventory, etc.) executed and delivered by
Costa Rican Guarantors
	 
	 	•	 	Ordinary Pledge for chattels and documented receivables, executed and
delivered by Ecuadorian Guarantors
	 
	 	•	 	Agricultural and Industrial Pledge for agricultural and industrial chattels,
executed and delivered by Ecuadorian Guarantors
	 
	 	•	 	Pledge for intellectual property, executed and delivered by Ecuadorian Guarantors
	 
	 	•	 	Universal Pledge Agreement executed by Honduran Guarantors
	 
	 	•	 	Share Pledge Agreement executed by certain Philippine Guarantors

 

 

Schedule XII
Page 2

Schedule XII- Certain Foreign Security Documents, Foreign Subsidiaries Party to Foreign
Security Documents, etc.

Part C- Replacement Foreign Security Agreements and all other Foreign Security Agreements (prior to
giving effect to the Foreign Security Documents Acknowledgements and/or Amendments)

	 	•	 	Security Agreement between Kabushiki Kaisha Dole and the Agent dated April 25, 2003.
	 
	 	•	 	Bermuda Charge Agreement among Solvest, Ltd., certain subsidiaries of Solvest, Ltd. and
the Agent.
	 
	 	•	 	Amended and Restated Debenture between Dole Hong Kong Limited and the Agent dated
July 14, 2003.
	 
	 	•	 	Security Agreement dated July 2, 2003 between Dole Fresh Fruit Med Gida Ǖrünleri
Ticaret VE A.S. and the Agent
	 
	 	•	 	Assignment Agreement (with each German Subsidiary) dated 28 April 2003
	 
	 	•	 	Security Transfer Agreement (with each German Subsidiary) dated 28 April 2003
	 
	 	•	 	Security Purpose Agreement (relating to land charge granted by Paul Kempowski GmbH &
Co. KG) dated 28 April 2003
	 
	 	•	 	Foreign Security Agreements governed by the laws of Canada executed and delivered by
the Canadian Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Chile executed and delivered by
each Chilean Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Colombia executed and delivered by
each Columbian Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Costa Rica executed and delivered
by each Costa Rican Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Ecuador executed and delivered by
each Ecuadorian Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Honduras executed and delivered by
each Honduran Guarantor
	 
	 	•	 	Foreign Security Agreements governed by the laws of Italy executed and delivered by
each Italian Guarantor

 

 

Schedule XII
Page 3

	 	•	 	Foreign Security Agreements governed by the laws of Philippines executed and delivered by
each Philippine Guarantor

 

 

Schedule XII
Page 4

Schedule XII- Certain Foreign Security Documents, Foreign Subsidiaries Party to Foreign
Security Documents, etc.

Part E and F- Foreign Security Documents Acknowledgements and/or Amendments and Foreign
Subsidiaries party to Foreign Security Documents Acknowledgements and/or Amendments

	 	•	 	Amendments to Deeds of Covenant and Mortgages between Ventura Trading, Ltd. and the
Agent with respect to the following vessels:

	 	o	 	Dole Africa
	 
	 	o	 	Dole America
	 
	 	o	 	Dole Asia
	 
	 	o	 	Dole California
	 
	 	o	 	Dole Costa Rica
	 
	 	o	 	Dole Ecuador
	 
	 	o	 	Dole Europa
	 
	 	o	 	Dole Honduras
	 
	 	o	 	Tropical Mist
	 
	 	o	 	Tropical Morn
	 
	 	o	 	Tropical Sky
	 
	 	o	 	Tropical Star

	 	•	 	Letter of Confirmation from Dole Foods of Canada Ltd.
	 
	 	•	 	Amendment Agreement by all German subsidiaries, as follows:

	 	o	 	Dole Fresh Fruit Europe OHG
	 
	 	o	 	Paul Kempowski GMBH & Co. KG
	 
	 	o	 	Dole Deutschland Beteiligungsgesellschaft MBH
	 
	 	o	 	Dole Deutschland GMBH

	 	•	 	Acknowledgment Letter by Kabushiki Kaisha Dole

 

 

Schedule XII
Page5

	 	•	 	Supplement to Mortgage Agreements executed by Dole Philippines, Inc. for the 10
mortgage agreements for each of the following properties:

	 	o	 	North Cotabato
	 
	 	o	 	South Cotabato
	 
	 	o	 	General Santos City
	 
	 	o	 	Sarangani Province
	 
	 	o	 	Davao City
	 
	 	o	 	Davao del Norte
	 
	 	o	 	Bukidnon
	 
	 	o	 	Compostela Valey
	 
	 	o	 	Agusan del Norte
	 
	 	o	 	Paranaque

	 	•	 	Amendments to security documents for all Chilean subsidiaries, as follows:

	 	o	 	Agricola California Limitada
	 
	 	o	 	Agricola Pencahue Limitada
	 
	 	o	 	Agricola Punitaqui Limitada
	 
	 	o	 	Agricola Rauquen Limitada
	 
	 	o	 	Cartones San Fernando S.A.
	 
	 	o	 	Dole Chile S.A.
	 
	 	o	 	Dole Thomsen S.A.
	 
	 	o	 	Embalajes Standard S.A.
	 
	 	o	 	Inversiones Del Pacifico S.A.

 

 

Schedule XII
Page 6

Schedule XII- Certain Foreign Security Documents, Foreign Subsidiaries Party to Foreign
Security Documents, etc.

Part G- Foreign Credit Parties executing Replacement Foreign Security Agreements and all
Replacement Foreign Security Agreements to be executed and delivered on the Restatement Effective
Date

	 	•	 	Assignments of Receivables Agreement by all Italian subsidiaries, as follows:

	 	o	 	Dole Italia S.P.A.
	 
	 	o	 	Fratelli Isella S.R. L.
	 
	 	o	 	Tropical Shipping Italiana S. P.A.

	 	•	 	Account Pledge Agreement by all Italian subsidiaries, as follows:

	 	o	 	Dole Italia S.P.A.
	 
	 	o	 	Fratelli Isella S.R. L.
	 
	 	o	 	Tropical Shipping Italiana S. P.A.

 

 

SCHEDULE XIII

SCHEDULE XIII Non-Guarantor Subsidiaries; Excluded Foreign Subsidiaries

Part A — Non-Guarantor Subsidiaries:

Hops Limited

Estibadores Golfitenos, S.A.

Brunetti S.A.

Propolisa, S.A.

Distribuidora de Fruta y Vegetales, S.A.

Agricola Santa Ines, S.A.

Comafrica

Dole Foreign Holdings, Ltd.

County Line Mutual Water Company

Pematin S.A.

All Subsidiaries of the U.S. Borrower organized under the laws of any jurisdiction other than
Bermuda, Canada, Chile, Colombia, Costa Rica, Ecuador, Germany, Honduras, Hong Kong, Italy, Japan,
Liberia, the Philippines and Turkey.

Part B — Excluded Foreign Subsidiaries:

Hops Limited

Estibadores Golfitenos, S.A.

Brunetti S.A.

Propolisa, S.A.

Distribuidora de Fruta y Vegetales, S.A.

Pematin S.A.

 

 

	AUDIT COMMITTEE MEETING 2005 AFFILIATED TRANSACTIONS BOOKLET April 4, 2006 SCHEDULE XIV

 

 

	DOLE FOOD COMPANY, INC, 2005 OF AFFILIATED TRANSACTIONS The Affiliated Booklet transactions Dole
Food Company, be, (“Dole”), on the one and & Cooke, Inc. f’C’astk”) and affiliated of David 11.
Murdock, on the other hand. Castle a private company beneficially owned by Mr. on September 6,
2000. Dole became a private company beneficially owned by Mr, Murdock on March 28, 2003. An the
entities and their various is at S. Set forth herein is a and amounts with to both fiscal 2005 and
2004. Each is to a tab number, which documents additional information regarding the specific Dole’s
relationships with Castle Mr. Murdock’s affiliated entifits are subject to limitations on
transactions with are contained in Dole’s Credit and in the indentures governing Dole’s notes and
debentures, A copy of those limitations is Tab II. As in in this report, this is on and review
procedures by Dolt*. This booklet has by our independent Deioitte & louche LLP and their input

 

 

	DOLE FOOD COMPANY, INC,2005 SUMMERY OF AITIl.WT.E0 TRANSACTIONS TAB 10

SUMMERY A

 

 

	TAB DISCRIPTION TOTAL 2005(1) LEST PAID

 

 

	DOLE FOOD COMPANY, INC 2005 SUMMARY OF AITIl.WT.E0 TRANSACTIONS TAB 10 Transetofi wish Wesljiiks
Wstlbcing Properties, IXC UraUtiikits on Transaction* with AITiHalss 12 Draft Audit

 

 

	DOLE FOOD COMPANY, INC ORGANIZATIONAL RELATIONSHIPS TO AFILIATED PARTIES Sacid H. Mudock Castle & Cooke Holdings, Inc.

 

 

DOLE FOOD COMPANY, INC.

2005 AFFILIATED TRANSACTIONS

TRANSPORTATION PRODUCTS AND SERVICES

Flexi-Van Transaction

     Flexi-Van Leasing, Inc., (“Flexi-Van”) is a wholly owned subsidiary of Mr. Murdock,
Continuing transactions between Dole and Flexi-Van are described below as follows:

Rental of Chassis and Generator Sets

     Flexi-Van
is one of the United States’ of largest lessors of chassis and generator sets. Dole Fresh Fruit
Company and Dole Fresh Fruit International, Ltd. each lease equipment pursuant to a Term
Lease Agreement. The Term Lease was approved by the Board of Directors in the July 22, 2002 meeting (Exhibit
A). The Term Lease Agreement was signed by both Dole and Castle in
August 2002 and will continue for a
period of 95 months.

     Flexi-Van purchased the domestic chassis fleet of TIP Leasing in October 2002. As part of the
purchase, Flexi-Van also assumed certain of TIP’s lessor
obligations, including a lease under which Dole
leased 312 chassis from TIP. In March of 2003, this lease agreement was amended to transfer the lease of
these 312 chassis under the Flexi-Van’s Term Lease Agreement.

     Dole
also does business with equipment lessors other than Flexi-Van and Dole also buys
equipment. Dole’s lease payments to Flexi-Van totaled $3,247,460 and
$2,695,373 in 2005 and 2004,
respectively. The lease payments for 2005 paid under the Term Lease Agreement are shown on Exhibit B.
In 2005, per the lease obligations. Dole also paid to lessors the casualty value of equipment
that was lost or damaged from Hurricane Katrina. Approximately $936,851 was paid to Flexi-Van for the loss of its
equipment from the hurricane. The loss of leased and owned equipment from Hurricane Katrina is covered
under Dole’s cargo insurance policy.

I-1

 

Pacific Coast Truck Company

     Pacific
Coast Truck Company (“PCT”) is a wholly owned subsidiary of
Dole. PCT operates two
truck dealerships in Tacoma, WA and Anchorage, AK. PCT are franchise dealers for three commercial
truck manufacturers: International Truck and Engine, ISUZU Commercial and Capacity Trucks. In
addition, PCT also represents many other small manufacturers of commercial truck parts. The great majority
 of the sales are to companies or government units.

     In 2004, the Presidents of Dole and Castle, Mr. Richard Dahl and Mr. Edward Roohan disseminated
PCT’s information to both Dole and Castle companies. As this information spread, PCT was able to quote
trucks to Castle. Based on PCT’s prices, delivery time, brand and other factors, PCT was
awarded some quotes and lost others. The quotes to Castle include concessions PCT received from the truck
manufacturers PCT represents. These concessions are awarded based on the size of the customer, financial ability and quantity of the vehicles to be sold.

     Castle’s
purchases were $3,647,246 and $71,017 in 2005 and 2004 (see Exhibit C for details).
Mr. Robert Carey, President of PCT provided the above information.

I-2

 

	Exhibit A
Dole Food Company, inc.
Regular Meeting of the Board of Directors
July 22, 2002
Lana’i, Hawaii
Flexi-Van            Mr. Kern presented for            a
Lease transaction with Flexl-Van, arm’s-length

 

	Dole Food Company, Inc.
Regular Meeting of the Board of Directors
July 22,
ana’s, Hawaii competitive bidding process its competitively favorable
Mr. Kern further noted that Mr. Murdock Flexi-
Van would not be permitted to enter into this
transaction unless Flexi-Van remains the low
round of bidding.
After upon motion duty the
following resolutions were approved by all members of the Board of
Directors except Mr Murdock, who abstained:
RESOLVSD, that the President and Chief of the
Company be, and hereby is,to determine if
either Interpool or TIP is prepared to a bid that, in
opinion of the President Chief Officer, the Vice
President—Chief Financial Officer and the Vice President—General
Counsel (the “Authorized Officers”) or upon the
bid by Flexi-Van, and, ifentity so,of the
Authorized Officers be, hereby is, and to
into a of two
the bid that, in the opinion of the Authorized Officers, as a
group, is most advantageous to the Company.
RESOLVED, FURTHER, that if neithernor TIP a
bid that, in the opinion of the Authorizedas a group,.
matches or improves upon the bid by Flexi-Van, then
of the Authorized Officers be, and is,
to a Flexi-Van on
and in the of the as a
group, are no to the the
bid by Flexi-Van,
RESOLVED FURTHER , that any and all such and
any all or
previously in
be, and are ratified, and approved.

 

	Food Company, Inc. EXHIBIT B
Leased Chassis and Gensets
Unit Price            Quantity            Total
——  ——  —
CHASSIS
2.50 21 52.50
Goosenecks-40’ 1,85 1,100 2.035.00
2,45 93 227.85
2.50 180 450.00
2,40 39
Goosenecks-40’ 2,25 208 468.00
Goosenecks-40’ 2,51 24 00.24
Gooseneeks-40’ 2.62 22 57.64
2.68 80 214,40
Goosenecks-45’ 331 13 43,03
Expandable-45* 2.91 29 S4.39
Expsndatte-45’ 3.31 8
Combo-40’ 185 1 1.05
Flatframes-20* 1,85 12 22.20
2,50 4
1.85 59 109.15
Tank Chassis-20’ 2,50 1 2.80
——  ——  ——  —
Total 2.09 1,892j 3,952.21^
——  ——  ——  —
Uoderslungs
Understands 5.26 50 282,50
Underslungs 5.10 181 923,10
Underslungs 4.90 325 1,592.50
Clip
Underslungs 6.50 108 702.00
4.68 313 1464.84
Total Gensets            I 5.06 977 4,944.94
——  ——  ——  —
Total per day 8,897.15
Total per year 3,247,459.75
on            due to 936,851.25
Amount paid to Flexi-Van in 2005 4,184,31 1 ,00

 

	Dole Food Company, Inc.
Pacific Coast Truck Transactions
Sold to            Description 2004
——  —
Pacific Aggregates, Inc. 20 Cement Mixers $2,961,011
Aim Transportation 5 Semi- Tractors
Castle & Cooke Resorts 7 Trucks 298,053
2 Trucks 71,017
—
$3,647,246 $71,017
——  —

 

	DOLE FOOD COMPANY, INC,
2005 AFFILIATED TRANSACTIONS
In April 2002, Dole Foods (“DPF”), a division of Dole, entered into warehousing
agreements with Madison Warehouse Corporation (‘"'Madison”), a wholly-owned subsidiary owned by Mr.

Murdock, for warehousing services in Dallas/Fort Worth and Chicago, This was approved by
the of Directors at its March 21, 2002 meeting Exhibit A),
As part of its supply chain cost reduction DPF as an
wheresavings could be achieved, DPP was looking for quality or
warehouse operators that would be able to well at a reasonable It to
competitively bid all but two of DPF- nationwide warehousing sen-ices, Madison the
through a competitive bidding process, with four other bidders for the Chicago location,
and
other for Dallas/Fort Worth, Madison the lowest for locations. The
were originally for three yearsApril 1, 2002 andApril 1, 2005,
cancellation for negligence or insolvency.and DPFtothe contracts, which
approved by the Board by unanimousconsent effective31, 2005 and at its July 27,
2005 meeting (see Exhibit 8), The parties have continued the existing while the
of new 5-year contracts are finalized, An business review is conducted each January to review the
performance of both parties, and Dole must to any increase in rates.
DPP’s payments to Madison $3,013,601 and $2,532,193 in 200$ and 2004, respectively,
The increase in rates correlates to DPF’s increase in warehouse volume and is consistent
with the of rates contained in a summary provided to the Board with the March 3 L 2005
written consent.

 

	Exhibit A
Food Company, Inc.
Regular of the of Directors
March 21, Dote Headquarters
Westlake Village, California
Mr, for the a
Lease Poods and
to the in
the and Mr,

 

	Dole Food Company, Inc.
Regular Meeting of the Board of Directors
March 21,2002
Westlake Village, California
Madison, and this proposed arrangement would be a
related-party transaction.
In a cost reduction effort, warehousing as an
area in which cost reduction could be achieved. on an
extensive bidding process that involved ten
four in Dallas and six in Chicago, who on their
in servicing the grocery trade, theprice
bidder, was chosen due to its new facilities, quality service,
cost.
The basic terms of the transaction ‘with Madison will be a three-year
warehouse with by
the Companyannual to of
approximately $1.6 million, resulting in an net to the
Company of $400,000,
Mr, Murdock noted that because of his personal interest in the
transaction he would from voting on this matter.
Following further discussion and upon motion duly made and
by outside Directors, the following and resolutions
(with Mr.
WHEREAS, pursuant to the Company’s financial procedures for
subsidiaries,hasto this of Directors a
by Doteto into a
with
(“ Madison”) tothein the and
with of
thisofhas that
asto this of Directors, is in
the of the Company,
BE IT that Dote
foods (or or with Dole
Foods as be be, and is,
to into a with
to the in and with

 

	Dole food Company, Inc.
of the Board of Directors March 21,2002
Dole Headquarters Westiake Village,
California
annual payments of approximately $1.8 million as to this
Board of Directors.
RESOLVED, FURTHER, that any and all actions taken and any and all
contracts, agreements, instruments or other documents hereto fore fore
executed in furtherance of the foregoing resolutions be, and
hereby are, ratified, adopted and approved.
Mr, Nolan left the meeting
Mr. Murdock presented for the Board’s consideration the
Company’s undertakinq of an offering of debt /

	After discussion upon motion duty the
following’becilais and resolutions unanimously approved:
WHEREAS, this Board of Directors has it is in the
best interest of the. Company and its stockbolders to an
offering (the “Offering”) of up to $400,000,000

 

	Exhibit B
IN LIEU OF
OF THE OF
OF
company; inc.,
a Delaware
The constituting all of the directors of Dole Fesd Inc., a
Delaware (the “Company”), to Section 141 of the
Corporation Law, in lieu of a of the of Directors, do In
to the of the following effective as of March 31,2005:
WHEREAS, at its of 21, 2002, this
Dele a of theto
Into a three-year April 1, 2002 (the
“Agfees’oent”) withWarehouse Corporation (“Madison”), a
wholly owned by Mr. Murdock, with annualto of
approximately SI .6 million; and
WHEREAS,to the
its for the in the sod
WHEREAS, the 31,2005, aid has
to thisato the “Amendment”) to
its upon six (6)prior written,
notice byparty, andto the additional
to JlsMMiA ssd
WHEREAS, thishas that the
the set in Exhibit A, represents
and is fair and in the of the
BE IT that theis
and
RESOLVED FURTHER, thai the theVice
Counsel andSecretary, the Viceand
Officer of the Company, or any of them, or their are
and to suchand to do any and ail andand to
deliver, file, and/or any and alland
or to out the set
herein.
RESOLVED FURTHER, that any the date of
that would by but for the

 

	RESOLVED FURTHER, that my actionsbefore the date of
resolutions that would have beenbybut for ;
that such actions were            before the date, of these resolutions, he, stk! 
hereby are, authorized, ratified, confirmed,and approved in all
as the            of the Company.
IK WITNESS            the undersigned have executed this
Ccttsetit as            first above
Richard M. Ferry
C. Micnael Carter
Scott A. Griswold
Andrew J Conrad, Ph.D.
Justin M. Murdock
Richard J. Dahl
Edward C, Roohan
David A, DeLorenzo
Roberta Wieman

 

EXHIBIT A

DOLE PACKAGED FOODS — MADISON WAREHOUSE

Proposed Amendment to Warehouse Agreement

The Warehouse Agreement dated April 1, 2002 (“Agreement”) between Dole Packaged Foods Company
(“DPF”) and Madison Warehouse Corporation (“Madison”) expires March 31, 2005. The parties propose
to amend the Agreement to extend its term indefinitely until terminated upon six (6) months prior
written notice by either party. DPF and Madison meet annually to agree upon any adjustments to
rates for the upcoming year. The aggregate base warehouse rate for 2005 is anticipated to be
approximately $2.3 million, depending upon inventory levels and actual volume for the year.
Accessorial costs and special project expenses (see below for examples of these costs) for 2005 are
estimated at $75,000 and $425,000, respectively.

Background

At the March 21, 2002 meeting of the Board of Directors, the Board approved DPF signing the
Agreement with Madison to service the grocery trade in the Chicago and Dallas markets. Mr. Murdock
wholly owns Madison and the arrangement was a related-party transaction. The resolution adopted by
the Board authorized annual payments to Madison of approximately $1.6 million.

DPF’s actual payments to Madison under the Agreement have been as follows (in thousands):

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2002	 	2003	 	2004
	 	 	 
	Base warehouse
	 	$	1,307	 	 	$	2,254	 	 	$	2,095	 
	Accessorial
	 	$	41	 	 	$	75	 	 	$	46	 
	Special projects
	 	$	295	 	 	$	441	 	 	$	392	 
	 	 	 
	Total
	 	$	1,643	 	 	$	2,770	 	 	$	2,533	 

The original estimate of $1.6 million in annual costs only included base warehousing cost, not
accessorial charges or special projects. Examples of accessorial costs include labor overtime,
repair costs for damaged cases received by the warehouse, and similar miscellaneous expenses.
Special projects (which are trade and promotional expenses) are additional services requested by
DPF on behalf of specific customers, such as the construction of customized modular pallets or
customizing the selling displays for club stores.

The following explains the escalation in each category of costs:

1. Base warehousing: DPF volumes at Madison have increased by approximately 21% over a
three year period. By mutual agreement with Madison, the base rate has increased

2-7

 

by approximately 15% over the same period. The rate increases were driven by changes in the DPF
product mix to items with higher warehousing costs due to cooler requirements and a higher number
of cases per pallet, and by general inflationary and market increases in the cost of warehouse
services.

2. Accessorial: These amounts will fluctuate from year to year depending upon volume, unanticipated
damages, and other miscellaneous services related to warehousing activities.

3. Special projects/packaging: Special projects are estimated at $400K to $450K per year,
depending upon customer demand and trade promotions which DPF may grant to specific accounts.

DPF anticipates its volumes will continue to grow and payments to Madison will increase
proportionately. DPF compares Madison’s rates against its other warehouse providers to ensure it is paying competitive charges for the services provided. DPF staff conducted an analysis
in late 2003 of warehouse building and labor costs by geographical area, which validated the belief
that its existing warehouse costs (including those with Madison) were fair. In addition, Scott
Campbell, DPF’s Director of Logistics, believes Madison’s rates remain competitive based upon his
knowledge of the warehouse industry and costs in the Chicago and Dallas markets. Madison’s
warehouses continue to be DPF’s two lowest cost facilities.

2-8

 

Dole Food Company, Inc.

Regular Meeting of the Board of Directors

July 27, 2005

Dole Headquarters

Westlake Village, California

Page 2

	 	 	 
	Dole Tropical Fresh Fruit — North
America

	 	Mr. Cavallero, President—Dole
Tropical Fresh Fruit—North America,
presented financial and operating
results, estimates and key issues
for Dole Tropical Fresh Fruit—North
America.
	 
	 	 
	Dole
Fresh Vegetables

	 	Mr. Schwartz, President—Dole Fresh
Vegetables, presented financial and
operating results, estimates and key
issues for Dole Fresh Vegetables.
	 
	 	 
	 

	 	Following discussion and upon motion
duly made and seconded, the
following resolutions were
unanimously adopted:
	 
	 	 
	 

	 	RESOLVED, that the proposal to
expend $54 million of capital for a
fresh-cut salad plant in North
Carolina as presented to the Board
be, and it hereby is, approved.
	 
	 	 
	 

	 	RESOLVED FURTHER, that the officers
of the Company be, and they hereby
are, authorized and directed to take
all actions they deem appropriate to
make effective the preceding
resolution.
	 
	 	 
	Dole
Worldwide Packaged Foods

	 	Mr. Nolan, President—Dole Worldwide
Packaged Foods, presented financial
and operating results, estimates and
key issues for Dole Worldwide
Packaged Foods.
	 
	 	 
	 

	 	Following discussion and upon motion
duly made and seconded, the
following resolutions were
unanimously adopted:
	 
	 	 
	 

	 	RESOLVED, that the proposal to
expend $12.4 million of capital for
capacity expansion in Dolefil as
presented to the Board be, and it
hereby is, approved.
	 
	 	 
	 

	 	RESOLVED FURTHER, that the proposed
related party transaction with
Madison Warehouse for a five-year
contract providing, inter alia, for
termination only for cause during
such term with increased lessor
requirements to the lessee be, and
it hereby is, approved.

2-9

 

Dole Food Company, Inc.

Regular Meeting of the Board of Directors

July 27, 2005

Dole Headquarters

Westlake Village, California

Page 3

	 	 	 
	 

	 	RESOLVED FURTHER, that the officers of the Company be,
and they hereby are, authorized and directed to take
all actions they deem appropriate to make effective the
preceding resolution.
	 
	 	 
	Dole
Asia

	 	Mr. Prideaux, President—Dole Asia, presented financial
and operating results, estimates and key issues for
Dole Asia.
	 
	 	 
	Dole
Fresh Flowers

	 	Mr. Amaya, President—Dole Fresh Flowers, was
introduced to the Board by Mr. Dahl. Mr Amaya presented
financial and operating results, estimates and key
issues for Dole Fresh Flowers.
	 
	 	 
	Dole Chile

	 	Mr. Bass, General Manager—Chilean Operations,
presented financial and operating results, estimates
and key issues for Dole Chile.
	 
	 	 
	 

	 	Following discussion and upon motion duly made and
seconded, the following resolutions were unanimously
adopted:
	 
	 	 
	 

	 	RESOLVED, that the proposal to expend $6 million of
capital for carton plant expansion in Chile as
presented to the Board be, and it hereby is, approved.
	 
	 	 
	 

	 	RESOLVED FURTHER, that the officers of the Company be,
and they hereby are, authorized and directed to take
all actions they deem appropriate to make effective the
preceding resolution.
	 
	 	 
	Company Overview

	 	Mr. Dahl provided a Company overview. Mr. Tesoriero
presented financial summaries for Q2 and full year
2005.

2-10

 

DOLE FOOD COMPANY, INC.

2005 AFFILIATED TRANSACTIONS

COUNTRY
CLUB AND RESTAURANT

SHERWOOD COUNTRY CLUB

     The Sherwood Country Club (“Sherwood”) is a private facility that is owned, directly
or indirectly, by Mr. Murdock. The facility includes a golf course, tennis courts and a clubhouse.
Exhibit A provides a breakdown of the 2005 and 2004 payments to Sherwood. Ms. Janet Welsh, the
controller of Sherwood, stated that Sherwood charged Dole the same
prices that it regularly charged
its other customers.

Target World Challenge Golf Tournament

     During December 2005, Sherwood Country Club was the site of the annual Target World Challenge golf
tournament. This event benefits The Tiger Woods Foundation, Target House, The First Tee and Ventura
County charities. Dole utilized the tournament as a major event to entertain executives of its
larger customers, and to gain national advertising exposure.

     As the title sponsor, Target contributed $5,000,000 to the event. Countrywide contributed
$1,500,000. Dole, Williams Company, and Buick were also major sponsors of the event. Dole and Buick
each contributed $750,000 and Countrywide contributed $800,000 to the Tiger Woods
Charity Event Corporation, a not-for-profit corporation that organized and staged the event. Mr.
Greg McLaughlin, the Tournament Director for the Tiger
Woods Charity Event Corporation, supplied Dole with the information above regarding the
sponsors of the event.

3-1

 

     In exchange for the fees paid by the sponsors, the Tiger Woods Charity Event Corporation
granted each sponsor certain advertising privileges, including eight 30-second television
commercials and on-site merchandising and promotion. As a sponsor, Dole also received 8 playing
rights in the Pro-Am golf tournament and 40 invitations to the Draw party or Pro-Am Awards party.
Dole primarily granted the playing rights as well as the invitations to the executives of its
largest customers. Dole also received 500 gallery tickets per day for the tournament.

     Other than the extended television exposure mentioned previously. Sherwood did not receive any
monies from the sponsors or from the Tiger Woods Charity Event Corporation for use of the golf
course, as confirmed by Ms. Welsh, Sherwood charged Dole and the other four sponsors for the
catered meals served at their respective private parties. Expenses incurred by Dole amounted to
$47,177 and $47,598 in 2005 and 2004, respectively.

     Mr. Marty Ordman, Dole’s Vice President of Marketing Services, stated that Dole did not
purchase any logo goods during the tournament at the Sherwood pro shop.

Other functions

     Various other expenses for Dole business meals, pro shop purchases and greens fees amounted to
$11,007 and $22,193 in 2005 and 2004, respectively.

3-2

 

	EXHIBIT A Dote Food Company, Inc. Transactions with Sierwwti C«i»try Club ___J2§L-~TM, ___1*H_TM»-,
Target World Challenge $47,177 Other Functions it,00? 22,193 ^^^SS8,J8S^ se^gs^^^s

 

 

	BOLE FOOD COMPANY, &C, 2005 AFFILIATED TRANSACTIONS RESTAURANT PRODUCTS AND The Regency Club is a
private dab wholly owned by Mr, Murdock, Certain -senior executives of Dole are members of the
Regency Club as denoted below: Richard Pah! President Scott Griswold Executive Vice President
Roberta Wierran Executive Vice President During 2005, Dole’s periodically utilized the Club for The
total cost of the business paid to the Regency Cltib in 2005 and 2004 were $14,239 ami $16,3(16,
respectively. Dole executives’ use of the club for personal use or non-Dole is not to Dole. Nicole
Wash, the Accounting Supervisor of the Regency Club, that the Regency Club has a oae- policy.
Therefore, Dole paid the price ss the other of the club, The following exhibits provide a breakdown
of the with the aforementioned functions: Exhibit A: Listing of executive members and related
monthly for 2005 Exhibit 8; incurred by Dole Executives at the Club

 

 

	EXHIBIT A Related Party Transact ion Ref»a 2005 Membership Commeaccnicw MomWv Annual Doe by Ducky
1M£___JMtSgJL.;,_-!V.,: O«« JOSELTM, «^S2M~» «£2*!lS»___S/S!
Roberta Wkman*fcO% by Dokj !$2fQ. l.-Oj-J^B S2J« SJ474 $1,116 S24fl, 4/05-S 2/05 S i.=W Scott
Cr«wi)!d !«S% b> Dolei (S5HX i.-05-3-’OJ 2,790 2,172 419 $240, 4/05-12*05} «W
Rk}»rdr>ahl!;ii:»%by Dole) ($210,1/05-3/65 2,790 2,790 t $24<3, 4%5-!2’05! $8,37!) $6,836
$1,535

 

 

	EXHIBIT S BOLE FOOD COMPANY, INC, THE REGENCV CLUB INCURRED IN AND IjjOS^, ___J<!S ±___. Business
M«als Hosted by Ex*ciitiv** (I) David Mufdock S3,143 $12,484 WiwntB TO? p Scott Grh’.voM ^2J 571
RictewiiDiAl «-664 3,972 Uwrena lUro — f 2 Edward Roohan — 250 •{•eta{ $14,239 ___J1 f
IJ Bu&iiii’ss Metis tre with Dole olflc«f.i ouJ$jdc bujaswss peisoas, Amwnts refJc’t chaigea
te cardholcSer’jneml’stfs acsxmnt Offlccn’ u$e of tta club fof jHtisofisI ass w tKHt-Dote basiatss
k not charged to Dole.

 

 

	PO0!> COMPANY, INC, 2005 AIRCRAFT AND In October of 200!, Dole and Casete entered info an with
Corporation to acquire one Global Express aircraft at m acquisition price of $42,529,310, of which
Dole fMticl $28,919,930 and Castle paid $13,609,310, The Express was delivered to DcsJe/Casfle on
December 20,2002, This was by the of Directors at the October 4, 2001 meeting (sec Exhibit A). The
of the co-ownership is §S% for Dole and 52% for Castle. The ownership percentage was on a
projection of flight hours to be used by the two into account the flights in the several years. On
March 28, 2003» Dole and Castle executed a Capital Corporation, as approved by the of Directors oti
26,2003 (see Exhibit F), The price to General Electric was $42,529,310
(Dok-S2S19,930/C«stle-SD,6*)93SO). The the the same, 68% for ‘Dole sad 32% for Castle, The is
§928,988 CI.)oIe~$631,7!2/Castle — $2f7s276), Dote and Cssile each pay their directly to
Genera! Electric.

 

 

	The expenses for the Global Express are divided into two categories, direct costs indirect costs.
The direct costs include fuel meals and entertainment, travel, flight plans and and car rental. The
Indirect include employee’s salaries and benefits, for the hangar, dues and subscriptions* office
supplies and printing, jet maintenance and supplies, tax and other The direct are the
responsibilities of the who fee The indirect costs are allocated 68% to Dote and 32% to Castle. The
and indirect excluding payments for the Global Express was $2,930,803 (Dol€-S1,917,5S2Castl€-
$1,013,251) in (see Exhibit E for details). Of the $1,013,251 by Castle, Cask reimbursed $899,743
to Dole, leaving a balance parable to Dole of Si 13,SOS it the end of fiscal 2005.
te«ilUsi;..sfiliijMiaift In 2005, Dote and Castle approved a rate of $4,526.37 per hour wt be to
Mr, for his personal use of the corporate jel. This rate is calculated at Dote and Castle’s per
hour on 2004 actual expenses (see Bxbrott B). The flight log of the corporate jet at the (see
Exhibit D). This 2004 rate was as an estimated rate for 2005 flight until an rate is calculated
after the 2005 year is closed. In 200$, Mr, Murdock used 1.7 hours of the corporate jel for
personal use. A review of actual jet expenses was by Dole’s and Castle’s accounting to if the rate
for 2005 was still appropriate. Based on actual expenses. Dole and Castle the rate to be $5,247,86.
This calculation has also been reviewed and approved by Craig Walker, Director of Aviation,

 

 

	StessLAffiffllUissssi Dole and Castle have an arrangement with Pacific Holding Company {“PHC”), a
wholly owned subsidiary of Mr, Murdock, «f sirding sharing incurred on the aircraft Dole and Castle
pay for the salaries of the Director of Aviation, two pilots and two technicians and an
administrative assistant while PHC pays fi>r the of full-time ground personnel, for individuals
are allocated between Dole, Castfc, and PHC on the of time spent on each business (see Exhibit C),
PHC owns an office and at the Van Nays siiport, which and services for forty-three the airport.
Craig Walker, Director of Aviation, the hangar. Dole and Castle lease an office for the crew as
well as hangar space for the Global from PHC at market rates. Rental for 2005 and 2004 were
$195,274 and $176,533, respectively.

 

 

	Exhibit A Dole food Company, Inc. Regular of the of * 4,2001 Dote Headquarters Village, California
___. x v# of Mr, for the a to in with & ixpriSi.Atrgr|f| Inc., a new with the a and & inc. t Ths of
the

 

 

	Is food Company, inc Regular of the of Directors t 4, Westiake Village, California
$44,605,000, The estimated net cash outlay for the Company is $20,393,000, which of the less the
Company’s $10,000,000 from the of the falcon 900 now owned by of the Company and & C0oke, Inc.
After discussion and upon motion duly made and second&d, the following recitals and WHEREAS, there
has to this of Directors t expenditure request of up to $44,695,000, of which it Is that
$20,393,000 wilt net outlay by the Company, to purchase, In & Cooke, Inc., a Bombardier aircraft,
WHEREAS, this of Directors has it is in the i best interest of the Company its to purchase. In
partnership with Castle & Cooke, inc., the Global Gxfjress aircraft for an expected net cash
otrffay by the Company of $20,393,000, representing a 68% ownership interest in the by the Company.
NOW, BE IT that the Company be, end it is, to in & Cooke, Inc., the for a purchase of $44,695,000,
with an net by the Company of $20,393,000, a 60% In the by the Company, RESOLVED, FURTHER, that the
Company be, and it hereby Is, to into a and any to fee in and to the thtreby, RESOLVED, FURTHER,
that the Officers. b«, and of is, in 111© of and on of the to io and of as the or in as

 

 

	Food Company, Inc. of the Board of Directors t October 4, 2001 Dole Headquarters Village,
California be approved by the the such to be conclusively by the that the Chairman and Officer, the
Chief Operating Officer, the Vice President and Chief Financial Officer, and the Vtca President,
General Counsel and Corporate f Authorized Officers”) be, and of them Is, authorized, in the and on
of the Company, to such further and to such filings as Authorized Officer, In his discretion, may
to be or to the transaction by the purchase of the Global the of any action or the of any such
fifing to be conclusive of such determination. RESOLVED, FURTHER, that aii actions heretofore taken
by the Authorized Officers of the Company in connection with the actions contemplated by the
foregoing resolutions be, and they hereby aw ratified, confirmed and approved in all respects, Mc
Curb, Mr. Kay, Mr. 8orok and Ms. Polite left the \ — “’ Audit Committee Mr. of the Report the
Audit Committee and x,0rf Ih© following: {1} of the 2000 of Survey, 2$ stttt and the
surveys to (2) by Arthur to the 41 (3) Arthur fee $1,890,300, witt>-’"'an fee previously for
2001 ofxtfOO.OOO, forx‘Bxtotat of $3,290,000, (4) of and on (5) the tie in
Ilia the of tht o! the

 

 

	EX! OBIT S DOLE. FOOD COMPANY. INC. GLOBAL EXPRESS CORPORATE AIRCRAFT INCREMENTAL COST CAiCULA’iION
* 2065 2§W S % l)isc|jrnoy ___M£IMif___»»S§M§I— QiSSSIL- i-’aei ft] S4
52.469 $388,606 $63,863 1*% Might plans & communicawoft [2j 100.643 294,$66 n. 94,321} -66% Travel
meal* & hotel 84,289 90,220 «S,*Tf ->?% jet supplies cabin* pans |31 45-980 25.858 26,522 78%
Telephone M53 19,461 I!.UO*> -57% Jrt Cleaning 1*1 W.2«» 21,413 12.M8 60% Maintenance &
cleaning |5] 282.6SS 466J66 i!14,citl) -39% Airthsw inspection |6j 22.500 22,500 § 0% Totel
!,COL28tJ ~~~~“Om?ir -~725iJift7 ~~~!22% Tolti fliglK hours jjli!.?., JlitL TM-_-JiMJil
___z!S&. Cost per Bight hoar 4,737,16 4,015.67 721.49 18% Engine m»lm«nance fee per flight tejar
{a} 3*150 398.50 0,00 0% Aircraft repaint fee per fiigW bow fbj 6150 62,50 0,00 0% Interior
refurbishment per flight ls«« |c| ___JE2£- TM___«»£il!L «TM___-_2L _»TM_JS. Total per flight hour
S,247,86 4,526.37 721.49 16% Personaal flifhi hours ......LIIL ___TMTM___2L ..-...-.•-.-... *
” — -—-——, Toiti retmbttrsemcM from persstwai use 8,921 0 8,t21 Less: Preiit«iftar>’ Am mutt
charged co persc«a) use _-»—___£___-*TM«-TM___JL, «_»»«_£- Aaioufit due
tsoXfrom pemwai u« Date’s jxnionofi-eimburscmcn! J’rtwi DHM 8%) S6.067 ___SO * Incremental cosi is
defined a«v the cess incurred to operate ihe aircraft and a cti«rg«: for “wear sad tear” of the
aircraft, ft does not irscludo overhead expenses and coste (ifwlirect costs). {{] Higher fte! sosss
f2] Lower mtcnsajional travel, |3| Fewer f%ht.« for er«w away from home bas«> }4j More Irctjueni
«lwnirtg both exterior and interior du« to stuwe travel J5| Maitit«jsrtc« &n: dnies
extecdcd dye to fewer hoars flkxvn. {6} Portion of inspection not covered bv w»t»My i>r«|,r«ns
iaspcctim of this :$c>pc dww ossce annually). fa] Awarding » Craig
Walkefs Diracsor o!“Awjaiion, yiider an MP (Mtiaicnftr.ee Servi« lrogramx “flits would
cost $199,25 |>er engint* (2 dnginei»5 per hour of flight, {!>} This covers wear and cear on
the exterior fsaiot Assumes repainting woalti fc*e a*«,i«i everv 2,400 flight hoars and Ihe
cost »:oiikl be $150.000, |c| This covers wear i»ix! sear on foe uph01sl«rv, Assumes
cturens uphobiery w«*M need wiurbishmeni: every 2,000 flight hours wsd sha cuss would be SM.400.

 

 

	c FOGS COMPANY, INC. Jit SAiASV M___JKS5i_, , ,»,,,___
SaSaryT”TM’: Sfoiwrt fistpHrt,* ‘” “TM Other p*»n«« ” 2gg4 CtM«m* ___SSHSSM
_,**—-JL —JSSKSL... TM— SL___—AJ2S8BL— ,TMJB&i$$L». lsw)i»t Ssftist W« {Si S«t37,» W3% S2S*,i“8 6% •
SS»,»4 ;T ?tB Pite||3} S7S.M* 100% i?SJ«» 6% — tTl.144 (S,S3« Otr®ctor of Avisson ?M.4C« ?S%
220.80* 2*% 75,001 2«,S4f -;i«s 5S6) »«Ct««? «»»IW!»r«4 t*9,24f &S% 141.7SS $H ?,«62 13«,?W
‘,3.02S TtAnfcwn 81.1S1 8C«» 4t,.$82 2OT. 52,398 «.-»27 3 ISfi; Sser«t»n? jS?»o«%!»«l f« CCS
g«fflS) »,*» ei% 2t,72S 35% 1J,«»8 0 as?»i 925,»?1 41?,t!1 18S.1S9 (11 ?6S:3« (5$,J2?i
feeretey fs«««? »&o«»,’1!«) $$.«» »S% JS.T?1 36% 13,677 33.S74 T.W* lUwsCrewM«nl»r
3S,95§ 20% ?,«*i «$% »1,9S« 1M2* 1SM38 11»« Cw* ««mfe« 48,111 15% 7.217 *5% 40,»94 5,3«S !1.8S4j
Lint Cww Memt«r» 168.828 10% 1S.SS3 95% 14«,?43 7,708 J8.3W1 !,,«« Cr«w tt*mo«r$ I«T,36? 5%
14sB8f SS% 2f2,4« 2.S8S (?2,3i) 5*5.987 ?f,83? {2} S13.*?? 67,421 ,:«,110? TOTftt.
AIRCRAFT ,»»ltili2L Toi»i«»!««« frame si8* (i> $i08.i*;« Totes «a*t *i* to Causa ‘2}
        .___iZlsS5i. K@ttfw«ftwnC8*Se’* .1.31,111 i3) The s«mo>s 0««i traS p** W* «*V w th»
Esiptess

 

 

	CORPORAJB JET flighs Hours SBftwiary Exhibit 0 Average JOQ5 ___M*M_—___->«
Ly&i.,: Hours % Hours % HSSL___»«_2S»TM___Dak flight hiStrs 88,15 39% 253.90 /6% 751-01 57%
Castl« fltghs hours 119,45 55% 68,65 2t% 453.59 3S% Hotel I.W) 1% l.tf) 0% ferMjna! flight hews
1.10 1% 56J5 4% Maintenance flight !»u» 6.50 3% S.60 3% 45,15 4% Tola! Flight Hews 217.71)
100*i> 131.15 100% UStJI) li»% Donieak flight ho«re 194,30 «9% 136.85 4!% &81.55 68% internalwwt
flight hours 16.90 8% iSSJft 54% 360.80 21% M»inis»«ace flight how*, 6,50 3% 8.«> 3% 45.15 4%
217,70 100% 33I.15 $00% 1,28?. 50 100%

 

 

	e Reo««tttiitkw .of j«t Chwf w Eitiudwg Leas* Payments for the J*f FY 2005* 3S$SS**£ 5§!f, ___Csstff
___J[§lii___..,,,,,,___Mffii TM, ''?’ ___A22H2l-_« J&m.TM Ok«cf $358011 $279.3*5 S$3?,3?4 $??2,S57
w«»« _MI§1?S _HM22___2j,?SiiZii- —JJSUIL IMCISS” ~~1 -.018,468 “2M7.0IS Othej
Asi|tfStoi«« (S 1,081) {5,2i4> (16,29ftJ _TMJiSSI Totals Experts* Total paS tsy «»of 12/S1 ®S
—iffiilfe Araotsftt d» fto).*om Castle m«»«lL 0l»Cl 358011 S8% 44% {1} S37,3?4 772.8S? indirect
_M§§-S4J, «% «IMS*_JI*. M0t »Jl432lHlr«IM£ C?I Pe>‘otrt?ag» higher than 32*/s was
tiue to ftighw fl)M hour* insufred &y CasB*.

 

 

Exhibit F

OFFICER’S CERTIFICATE

DOLE FOOD FLIGHT OPERATIONS, INC.

The undersigned, being the duly elected or appointed, qualified and acting Secretary of Dole Food
Flight Operations, Inc. (“Company”), hereby certifies on behalf of the Company that:

1. Attached hereto as Exhibit A is a true, correct and complete copy of resolutions of the Board of
Directors of the Company, duly adopted by unanimous written consent of the Board, which
resolutions have been in full and continuous force and effect since the date of adoption, and the
same have not been amended, modified or rescinded since such date of
adoption and are in full force
and effect on the date hereof.

2. Each officer of the Company whose name appears below has been duly elected or appointed and is
presently acting in the corporate office(s) of the Company indicated opposite his or her name, and
the signatures of such officers appearing opposite their respective
names are their genuine
signatures.

	 	 	 	 	 
	Name	 	Office	 	Signature
	 
	 	 	 	 
	Beth Potillo

	 	Treasurer
	 	/s/ Beth Potillo
	 

	 	 	 	 

IN WITNESS WHEREOF, the undersigned has duly executed these presents effective as of March 26,
2003.

	 	 	 
	/s/ Jeffrey Conner
 

Jeffrey Conner

	 	 
	Secretary
	 	 

5-11

 

EXHIBIT A

To Officer’s Certificate

UNANIMOUS WRITTEN CONSENT OF DIRECTORS

OF

DOLE FOOD FLIGHT OPERATIONS, INC.

IN LIEU OF A MEETING

 

     The
undersigned, constituting all of the members of the Board of
Directors of Dole Food Flight
Operations, Inc. (the “Corporation”), pursuant to due authority desire to dispense with a meeting
and vote of the directors, and desire to consent in writing to the corporate action(s) hereinbelow
described:

     NOW, THEREFORE, the undersigned, constituting all of the members of the Board of Directors of
the Corporation, do hereby:

     1. Consent in writing to the corporate actions described in the Resolutions
attached hereto as Annex I, and hereby adopt said Resolutions as resolutions of the Board of
Directors of the Corporation; and

     2. Confirm and agree that this Unanimous Written Consent of Directors (a) may be executed by the
various directors below in any number of counterparts, and by original and/or telefacsimile
signatures, and (b) upon such execution by each and all directors, shall be effective as of the
date set forth below.

Dated as
of March 26, 2003.

	 	 	 
	/s/ Lawrence A. Kern
 

Lawrence A. Kern

	 	 

5-12

 

ANNEX I

To Unamimous Written Consent of Directors

Dole Food Flight Operations, Inc.

RESOLVED, that (i) each of the officers of Dole Food Flight Operations, Inc. (this “Corporation”),
be and each hereby is authorized and empowered in the name and on behalf of this Corporation to
enter into, execute and deliver the Aircraft Lease Agreement
(“Lease”) dated as of March ___, 2003, with
General Electric Capital Corporation (hereinafter called “Lessor”) as Lessor and this Corporation
and Castle & Cooke Aviation, Inc. (“CCAI”) as Lessee and providing for the leasing to (or sale and
leaseback by) this Corporation and CCAI of one Bombardier Global Express aircraft model BD-700-IA10
(“Aircraft”); and (ii) further providing for
this Corporation to execute and deliver any Annexes
and supplements necessary to effectuate such Lease in such form and substance as may be agreed upon
between Lessor and such officers or any of them as agent(s) of the Corporation; and (iii) to
indemnify said Lessor against certain occurrences as set forth in the Lease; and

FURTHER RESOLVED, that each officer of this Corporation is hereby authorized to do and perform all
other acts and deeds that may be requisite or necessary to carry fully into effect the foregoing
resolution; and

FURTHER RESOLVED, that said Lessor is authorized to rely upon the aforesaid resolutions until
receipt by it of written notice of any change, which changes of whatever nature shall not be
effective as to said Lessor to the extent that it has theretofore relied upon the aforesaid
resolutions in the above form.

5-13

 

	FOODCOMPANY,INC.2005AFFILIATEDgoingprivateMergertransactionofDoleFoodCompanycreatedanopportunitytos
avingstothelots!costofrisk.ByoperatingtheRiskManagetnentdeparwietitonsconsolidatedbasis,DoleandCasf
kareabletoleveragetheirbayingpowertooptimizetheirpositionib
theandtakeadvantageofthemarketrelationshipsthatbothcompanieshavedevelopedevertteyears.Inaddition,th
eintegrationoftheriskmanagementservicescreatesriskmanagementphilosophyg«5»t:tocreateaseamlessandeff
ectiveriskiimBagC’iuc’irtprogramforallofMr,Murdoch’scompanies.AsofJanuary},2006,thecombinedinsuranc
eprogramsare;non-ownedaviation,casualty(includingdomesticworker’scompensation,cotjuiwrcialgenera!ii
at»iity»commercialatrteliability,umbrella/excessliability),crime{fidelity},andglobalproperty,whicha
lsohasMeficlocino(Dole’scaptive)incoverage.ThecostsoftheRiskManagementpersonneltadcertainexpensesar
eooa50-50basisteweenDo!ea«dCastle,TheoaamountpaidbyDoletoCastleforRiskservicestoS175JSStad$101,280,
in2005and2004,respeccivc!y.”!>«ethat
isbeingsharedisasfotfows:RosyKit,CastleemployeeRebeccaSmith.Castlec*ntp!oyeeAliceSou,Doite0ipl-o)
‘€*eNoriclSandoval,Castleempkrree

 

 

	Meadoctne,awhollyownedsubsidiaryofDole,retainsriskforpropertysustainedby.DoleandCastle,Mendocitio’s
participationisfatheprimarylayer,andiflimitsof$4,000,000peroccurrertccand$4.000,000inExcessarethird
partyinsuranceearners.Thearrangement,cateredinto00April1,2005and
31,2006,providesforpremiumstobepaidtoMendocinobyCastlequarterlybeginningMarch31,2005in
forMeodot-mo’srisk.Atthistime,itisanticipatedthatasimilarbetweenDoteandCastlewillcontinueforthe2006
/2007policyterm.In2005,Castle$654,375toMendcwino,andin2004,Castle$965,625toMendocino.Thepropertypol
icyrenewaliscurrentlyunderreview,BUBJSiQcJLtftSSJ!On4,2fKK,aDolefreshFlowersfacilityinMiami,Florida
        ,sodafacilitylocatedinKeenesPoints,Florida,sufferedlossesduetoFrancis,Thewereoneoccurrenceforpurpos
es,ThetotallossduetotheImrrieanewas$645,996ofwhichDoleFreshFlowers’portionwas$403.473andCastle’spor
tionwas$242,523.Thepolicyof$105,720forthisSftsswasthetwoontheirrespectiveofloss,Afterapplicationoft
hedeductible,MendocinopaWCastle$202,349.Castle’swasift2005uponcompletionoftheadjustnietrfoftheclaim
        ,During2005,CastlepaidvariousinsuranceprernhsnpaymentsaodfeesonbehalfofDole
amountingto$430,233.Inaddition.DotspaidCaslie’sshareofcrimeintheamountof$34,376.Doterepaid«netamoun
tduetoCastleof$395,85?and$475,697in2005and2004,respectively.AttachedisaschedulesummarizingtheRisktr
ansactionsbetweenDoleandCastlein2005(seeExhibitA),

 

 

	ExhibitADoteFtMXlCompany,Inc.RiskManagementTransactionsyTM-TMTM..-.!.-.^.-^*-**Dole’s50%shareoft
he2805RiskManagemwsdepartmentSharedCostsPropertyInsurancePremiumbyCastleloMendocifioHurricane
fniseislossclaimstoCastlebyMtndocinoInsurancepremiumretnibursemeRtDole’sshareofcasualtyrenewa
ldownpaymentandls»finstaltwieiM409,384Dole’sshareofpropertyprogramclientfifelaxandftts?2i52TMT
otalAmountPaMbyCustie&CookeonbehalfofDole430,233Castle’sofcrimecoverageTotalAmountPaidbvDoleo
nbehalf-ofCastle&Cooke(34,376)NetInsurancePremiumPaymentsPaidbvDoletoCastle6-3

 

 

	IMC.2005AFFILIATEDOnDecember28,1995,Dolespun-offitsrealestateandresortbusinessestoanewcompany-
Castle&Cooke.
(“Castle”),followingthedistribution,DoleandCastlehaveinpartytransactions,OnJuly18,2005,Doteenteredi
ntoalimitedpartnershipwithCastlefortheprimarypurposeofleasinglandfromVenturaCountytocompletethecons
tructionofabousingprojectCasadeEsperanzaandusrelatedimproventents.CastkistheGeneralPartnerand’Dolei
sthepartner.DoleandCastleetchaninitialcapitalcontributionof$1,625,411fori50%interest.Desk’scontribu
tionistocash.Castle’scontributionisintheformoftheGroundandconstructioncostsforthehousingproject.The
GroundLeasewassignedbetweenCastletheCcwntyof
Ventura,whichprovidedfortheoflandbyVenturaCountytoCastlefortheconstructionoffeehousingproject,ifthe
constructioncostexceededtheinuialcontributioji,bothpareierstomakeadditionalcontributionsinaccordanc
ewiththeirrespectivepercentageinterest.InMarchof2006,Castlesubmittedadditionalconstructioncostsof$5
14,752toDoleforrsinitiUKenien’tOnSeptember21,2005,thecompletedhousingprojectwastotheCountyofVentura
tohouse45mentallyillpatients.DoleandCastlearecwretitiyworkingondissolvingthe*partnership,

 

 

	DolesubsidiariesarethemembersofIwelimitedliabilityandaofapartnership,engagedittagriculturenearF
resno,California,13©!eownsapproxitiiately60%of
theequityofthetwoLLCsofthepartnership.ACastlesubsidiarytheapproximately40%ofthetwoLLCs,tothasnointer
estinthepartnership.TheCastlesubsidiaryitsinterestasaresultofa2005offerCounaffiliatecSunitholdersand
asequenceoftransactions,to%theDoleSubsidiaries,culminstmginback-endmergers.CertainofthebythetwoLLCsi
searmarkedfortheVillageofGatewayproject.Duetotheofthesurroundingarea.CastleisDoletheLLCstore-zoneand
thefortheGatewayVillageproject.Doleonbehalfofthethreeentities,Castle$1,153,638and$1,109,122for2005an
d2004,respectively,forexpensespaidonbehalfoftheLLCs.OverthecourseoftheVillageofGatewaydevelopmentpro
ject,Doleliasapproximately$6,755,737,intheonbehalfoftheDoleandarebywhichDolecanbesomeortiloftheand/o
rCastlepaythecostsgoingforwarduntiltherelativeamountsofDole’sandCastle’sofdevelopmentcoststheapproxi
mately60/40divisionofequityiatercsis.,CastleprovidedservicestoDoleforinThetorwereontheactualtimebyem
ployeesplusin2005weremonthlychargesof$8,400toDeleforofteCastleemployeetoDotetodtransactionsinHawaii.
ThetotalchargesCastletoDolewere$114,424andSI07,678for2005and2004,respectively,7-2

 

 

	Pursuanttothespin-offagreements.Dole1,10?acresoffarmlandfromCastlefor$!andCastlefortherealtaxes
        ,Totalmmbursementwas$25,396and$28,993in2005and2004,respectively.InSeptemberof2004,DoleandCastleenter
edintoasection1031realThereweretwoparcelsofproperties,whichwerenotftillyandarejointlyownedbyDolesadC
astle,Untilsubdivisioniscompleted,Dolewillcontinuetopaythefax,securityserviceniaintenanceand’repairs
andbillCastlefortheirportion.ThereirabursenieatfresiCasilewasS86.9SO
in2005,to2005,DolealsoreimbursedCastle$54,44!forsecuritydepositsandrentheldinDole’sbookfortheexchang
edproperties.Thenetofthesetransactionswere532,539.Castlepineapple,coffeeandwithDolefromtosellatitsst
oreand
useinitsLanaiThepricesarewithpricestoparties,Totalpurchaseswere$342,365and$434,939in2005and2004,resp
ectively.CastlesellsmerchandisewithDolelogosattheDolePlantation(Castleowned).Underthe
TrademarkLicensingAgreementt>
ecw«T,DoleartelCasik,CastlepaysDotearoyaltyinanto(3%)ofCastle’sgrossrevenuesonDolelicensedproductsat
tile’DolePlantation.Thetotalroyallywas$68,1Mand161,151in2005and2004,respectively.

 

 

	DoleandtheDolePlantationsharethesamewaterline.CastlereimbursesDoleforthewaterandrelatedsewercos
ts,C«stk*ireimbursementtoDolewas528,404and525^98?in2005and2004,respectively.Afirepumpengineservicesb
othDole’sPineapplepackingplantandtheDolePlantation.DolechargedCastleforits50%shareofthefirepumpengin
eservicing,inspectionandreplacement.Tola.!chargetoCastlewas$4,223and$10,705in2005and2004,respectivel
y.Includedin2004chargesweft*expensesforrepairofpumpe&gice,CastlepurchasesfromDoletobeusedforCa$llego
lfcoursesonLaaai.ThepricepertonisconsistentwithpricesthatwouldbechargedtounafSliatedthirdparties.The
loalamountwas$2,970and$57,870in2005and2004,respectively,TheTanacaReservoirisusedforpineappleirrigati
on.TheBolePlantation(CastleroutepassesbythereservoirfindCsstterequestedthewaterbekeptitahighis*tevel
soasWbsffiOfCestheticallyappealing.CastlealsousesthereservoirforirrigatingthelandscapeattheDolePlant
ation.Castlesharesdiemsimtnaftcecoststorthereservoirandaportionoftheelectricitychargesthatxtbilledto
Dole.Castle’snrimbursementtoDole%«sS941andS2,904in2005and2004,res|)ectively,

 

 

	INC,2§05AFFILIATEDEXECUTIVEDuring2005,Ms.RobertaWsetnan,Mr,JustinMurdock,
andMr.SeottCiriswokiwereofDoleandCastle,Theyreceivedcompensationsm!fringe
benefitsfromthesetwocompaniesinaccordancewiththeamountoftimetheyspentoftt
herespectivecompanies.Mr.Griswold’sannualboatswaspaid106%byDole,

 

 

	ISC,2005AFFILIATEDEXECUTIVEFollowingCastle’sseparationtrotsDole{December28,1995),Doletoavailcertainm
anagementsendeestoCasiie,BoleprovidedexecutiveandtoCasde.ThetoCastlewasonthetimespentbyDele’sincurre
dintheofservices.ThefromDoletoCaskS154,105aid$142,074ia2005and2004,respectively{seeExhibitA),Castlea
nditscompaniesalsoprovidedavarietyofbenefitstoDole,theofwhichistobeapproximately$71,931and$83,523in2
005sad2004,(seeExhibitA).Mr,MurdookalsoincurredtoDoleastheuseofhiscountrydabandfororaswellsstheuseof
hisshoneamiwhiehwereneitherreimbursednorchargedtoDole.However,theamoiaiiwascietnir

 

 

	ASUMMARYOFCOSTSWITHCASTLE A SUMMARY OF COSTS WITH CASTLE
ESTIMATE :O AMOUNT 2S04 ACTU            iL AMOUNT ___
^TefaTAtaSuBt*^"^ Total Amount            Total Amount “TSSOSSat
by Dote            Paid by Castte            P«W by Oeie            Paid by Castle
Rotated to Castle            Relaled to Dote            Related to €««f<« f« Pale
Jefiessi Coote $24,150 114,685
Paige Murphy 22,766 665
Estrada
Cheryl Waiston 15,225
Aircraft Operation;
Dole Personnel 105,159 S7,792
Castle Pcrsoanef 71,931 83,523
Total Personnel            S! 54,105
Total due to Dolt
9-2

 

 

	INC.2005AFFILIATEDTRANSACTIONSTRANSACTIONSWITHLLCDHMHoldingCompany,Inc.(**HoWco’J
istheparent,companyofDole’sDoleHoldingCompany,LLC,Hofdcoowns85%ofWestlakeWeflbeingProperties,LLCf’W
elisiessCenter”),while
ARCUSEnterprises,Inc.,awhollysubsidiaryofWeilpoinfNetworks,theof15%oftheWeilftessCenter(seeExhibitAf
ororganizations!chart).TheWeilnessCenterisaluxurious270fivestarhotelandspaandwillincorporateclinical
andacomprehensivehealthcarecenter,In2005and2004,certainexernpcDoleemployeesprovidedservicestoDolewhi
chalsobenefited
HoldcoandtheWelJnessCenter,withhoursestimatedintheofroughly4,700$613,000}and3,282{approximately$358,
000),respectively,withpriiiisfyfocusonDole’s;(includingcontributionsanddividends):creditstandinganda
ffiliatedebtandftnsoee,IT,legal,riskandtax.mattersasitnaffiliatedgroupofownedbyMr.Murdock.Beingexemp
temployees,.Dolenocosts;andManagementhasdeterminedthattheseemployeesperformedalltheirregularduties(i
ncludingthese
services)forDole,andthatanybenefittoHoldcoandtheWetlnessCenterservicesdidnotresultinsuchemployeesbei
ngtocanycart,orfoilingw>
canyout,toDole,ItshouldbeDoleownstheWeilnessCenterprojectsiteand,asthetoitselfthattheprojectaremanac
ceptableform.HadHoldcoemployeesbeeninvolvedinmatters.Dolewouldstillhaveneededtoinquireaboutandhandle
thecashmanagement,finance,legal,personnel,10-1

 

 

	tax.Image/publicperceptionandcreditagreement/indenturecomplianceforDoletowith»separatestaffwouldhave
requiredasmuchfmiefromDoleemployees,uoial!ftoriithesamepersons.

 

 

	DHMHoldingCo,inc.10-3
ExhibitA

 

 

	COMPANY.IXC2005AFFILIATEDTRANSACTIONSLIMITATIONSDole’srelationshipswithCastlearesubjecttolimit
ationsontransactionswithaffiliatesthat
containedInDole’sCreditAgreementandintheindenturesgoverningDole’sseniornotesand<
ExhibitA;CreditAgreementExhibit8:IndenturesgoverningDole’sseniornotesanddebentures.i-i

 

 

	9.07TransactionswithAffiliatesNoCreditAgreementPartywill,norwill
permitanyofitsSubsidiariesto,enterintoanytransactionorseriesoftransactionswithany
AffiliateofHoldingsoranyofitsSubsidiariesotherthanintheordinarycourseofbusinessand
ontermsandconditionssubstantiallyasfavorabletosuchCreditAgreementPartyorsuch
SubsidiaryaswouldbereasonablyexpectedtobeobtainablebysuchCreditAgreementPartyor
suchSubsidiaryatthetimeinacomparablearm’s-lengthtransactionwithaPersonotherthanan
Affiliate.providedthatthefollowingshallinanyeventbepermitted:(i)theTransaction;(ii)
intercompanytransactionsamongtheU.S.BorroweranditsSubsidiariestotheexpresslyopermittedbySections9.0
2,9.04,9.05and9.06;(iii)thepaymentofconsultingorotherfeestotheU.S.BorrowerbyanyofitsSubsidiariesint
heordinarycourseofbusiness;(iv)customary
tonon-officerdirectorsoftheU.S.BorroweranditsSubsidiaries;(v)theU.S.andItsSubsidiariesmayenterintot
heemploymentarrangementswithrespecttotheprocurementofserviceswiththeirrespectiveofficersandemployee
sintheordinarycourseof (vi)DividendsmaybepaidbyHoldingstotheextentpermittedbySection9.06;(vii)the
paymentofcustomaryfees(excludingtotheAgentsandforrendered(including,withoutlimitation,anyunderwriti
ngdiscountsandcommissions);
and(viii)transactionsbetweentheU.S.Borrowerand/oranyofitstheirrespectiveAffiliateslistedonScheduleX
VIhereto,innoeventshallanymanagement,consultingorsimilarfeebepaidorpayablebyHoldingsoranyofitsSubsi
diariestoanyAffiliate(otherthantheU.S.BorroweroranyotherCreditParty),exceptasspecificallyprovidedin
Section9.07,11-2

 

 

	“RestrictedSubsidiary,asthecasemaybe,financialofvie
w,fromanFinancialAdvisorandfilethesamewiththeTruste
e,X.Notwithstanding(A)and(8)ofthisSectionwillfeetoe
nterSwapwithoutwilltotheextentthat;(1)itinto
ingeffecttosuchAssestswap,00Defaultororbeor(2)tothe
eventthatinex-
of110,0ofDirectorsoftheConopanyhaveapproved*%ntisof
witheofsideraftenSwapisattotheMroftheSwap.0}wiltwit
hthe14&-IAcethersecaritiesJawstheregu!ai|0f&if*inco
rtneelkwwith%,^ter.Tothethatthepfd-wsJoasanyofSecti
on4,10,listConfianyshallwith%dnotbetohaveitsthis4by
virtueihereof,TheCompanywillnot,&willactanyofitsRes
trictedto,orindirectly,ortoaeyorwithouttheoroforofa
nyservice)with,orforthetettefitof,tuyof<
x)liteOfCf)Affiliateenthaiarefielewt»Iflis^ebftenfa
ttrtasartioottonanwff-ieflgthfromsilitiiio0imAJftli
ttcoftheorAllartittwitforpartofawith*Hlftoof$7,5beb
ythetsthemaybe,tobeb|>
tRssototioaofDirectorshasihsttuchtheIfilieoranyan(o
raofrelatedtot11-3

 

 

	commonplan)thatinvolvesartaggregatefairmarketvalueofmore$20.0million,the
CompanyorsuchRestrictedSubsidiary,as<h«casemaybe,shall,priortothecomufaiailjon
thereof,obtainafavorableopiniont$tothefaunrte$sofsuchtransactionorofrelatedtransactions10theCo
mpanyortheretevaniRestrictedSubsidiary,asthemaybe,fromafinancialpointofview,fromtoIndependentF
imtwiaiAdvisorandfilethewitht|»eTnisiesTherestrictionssetforthinthisSecfioa4,11ng|to:(!)aadcom
pensationpaidtoandindemnityprovidedonbehalfof,officers,directors,employeesorefliteeranyRe-Subs
idiaryoftheasiabythe€ompmf$BotrdofDsrectorsor{2}exclusiveJybetweenortheanyofitsResirfctedSubsi
diariesorexcfusivelybetweenorSub$idiade$,*uchtrtnsactioosareoatotherwiseprohibitedbythisIndent
ure;(3)anyagreement,oranytheofwhichbeencite-closedpriorit*theDatetoCheFinalMemorandum,asliteff
ectasoftheDaleoranyacneadsieaiorreplacementagreementtheretoorftiiyplatedthereby(includingpursu
anttotoyamendmentorthereto)s<
?longasanysuchorrspliccmeatasawholeisnotmateriallymoredisadvantageoustotheHoldersthantheorigin
alasifteffectontheIssosDate,(4)fMyinenisandlavesicicntspermittedby<
hisIndenture;($}thepaymentoffeesmetexpeo$e$tncwreduiconnectionwiththecon-oftheitaftsacltonsDit
e;(6)anyIssuaoeeofsecurities,0rotherpayments,ormor(otherthanIssuances,ertoDavidH.tvtcrdock)to,
ortheof,mdofD!’(?)ortoiaihcoftheCompanyoranyo’fitstheptst(8)wkhorpur-chasersofoforks«Bis11-4~S
        .NEXT

 

 

	(including,withoutlimitation,pursuantiojoin?venturei«lotherwiseincompliancewiththetermsofthisIndentu
re,(9)anytransactkmonarm’s-Iengthtermswithanyric«i-AffiliatethaibecomesanAffiliateastresultofsuch(JO
)purchasesandsatesofproductandrawmaterials,insurancearrtnfe-
mtfltsandpayments,«lioftheforegoingtoth«ofbunrtesswithortsb«necessarytolegal,regulatoryorotherchange
sinth*oftheCompanyanditsRestricted(!I}»o4tadH.(II)theissuanceandsateofQualified€»pit*IStock;sad(13)p
aymentsmadepursuanttothefollowingconditions:iftheCootpasy
tslofileconsolidatedincensetaxret’oiaswilhorcombinedsrunitarystateiftc0?a«taxHoldings,theCoaipaaysta
xagreementwithHoldingsaa<
fmaypaytoiioidinpduepayiWcpuisuoatlosuchtaxifmring»gTtsr»cncinre$pcctofamountsoftaxdwewithrespect
tosudsconsolidated,cooibiftedorunitaryreturnsandaayrfuelimetoliiacus*r«saliofanyauditthereof,asUseca
semaybe,ininanarneaiiinottoexceedtheoftaxtheCompanywouldhave10paytotheappropriatetaxingauthorityifth
eCompanytoditsfiledahypotheticalconsolidated,eootbiitedorunitaryreturnforthecurrtotyearallprioryears
endingafteribeIisueDate.Section4,12,TkisSection4.12willapplytoibeNotesafterthenoorinthetherequisitet
heofExisting*-NdieshavereceivedtotheoftheCosiptnytothesectionsin(lieNotesIndentureta4JI(«)Mid:4,23(t
})bwof,InthisSectieu4J2toibeHole*ifthe4.23<&)»d4J3(b)bo
asatheoft^hsTheCoii^tiiywit!tioi,tadwiltnotoranyofitsto4
diieetfy0rIndirectly,orortomy(ctih«fthanPeouittg-dLiens)ofertnyorofCheCora-oranyoflitwhetherontheDat
eor

 

 

	me.2095WHEREAS,thisAuditCommitteehasreviewedmaterialstotheorinvolvingDoleFeedCompany,Inc.{the“Compan
y”)oritssahsictiaties,ontheonehand,aidDavidH.
Mutciock,orhisaffiliates,ontheassetforthinthebindercontainingrelatingtoaffiliatedandApril4,2006(the”
AffiliatedTransactionsBooklet”);WHEREAS,theAuditCommitteehasreviewedandthatMr.usedtheservicesofemplo
yeesoftheCompanyduringfiscal2005andtheCompanywiththeservicesofcertainofhisandcertainofhisfacilitiest
heperiod;NOWBEITthatafterreviewingsuchandinandaftersuchandreviewasifdeemednecessary,theAuditCommitte
eandadoptsthe2005SummaryofAffiliatedTransactionscontainedintheAffiliatedTransactionsBooklet;
FURTHERRESOLVED,thattheofficersoftheCompanybe,andherebyis,authorizedto
suchdisclosurewithrespecttotheforegoingintheCompany’sSECasmaybeorinconformitywithapplicablerequireme
nts.12-1

 

 

	SCHEDULE XV SCHEDULE XV Principal Properties REAL PROPERTY Soledad Facility Springfield
Value Added Processing Plant Yuma Cooling and Value Added Processing Facility Atwater Processing
Plant — Frozen Foods Dole Fresh Flowers World Headquarters Property Owner Bud Antle, Inc.
Dole Dried Fruit and Nut Company, A California General Partnership Dole Fresh Vegetables, Inc. Dole
Packaged Foods, LLC Dole Fresh Flowers, Inc. Location Soledad, CA Springfield, OH Yuma, AZ
Atwater, CA Miami, Florida Assessor ID 257-081-038-000 33-07-0004-000-064 14-9550658-01-7
150-030-035 150-030-038 35-30320330010 35-30320280011

 

 

SCHEDULE XVI

Schedule XVI Tax Matters

Taxes (Examinations):

U.S.:

	 	•	 	The IRS Audit of the Company’s Federal Income Tax Returns for the
years 1995-2001 commenced on December 3, 2002. Notices of Proposed
Adjustments issued on April 4, 2006.
	 
	 	•	 	The State of Arizona is presently auditing the Company’s tax returns
for 1995-2001.
	 
	 	•	 	The State of New Jersey is presently auditing the Company’s tax
returns for 2001-2003.
	 
	 	•	 	Pennsylvania income tax returns are subject to a “desk audit” after
filing. In some cases these audits have resulted in additional taxes being
assessed. The Company has protested these additional taxes in most cases,
and has not paid the assessments.

Foreign:

	 	•	 	Costa Rica

	 	1.	 	Aerofumigacion de Centroamerica S.A. — 2000, 2004-2005
	 
	 	2.	 	Hacienda la Rosalia S.A. — 1997 and 1998
	 
	 	3.	 	Roxana Farms S.A. — 2000, 2004-2005

	 	•	 	Honduras

	 	1.	 	Compania Agropecuaria el Porvenir, S.A. — 1990-1995
	 
	 	2.	 	Dole Fresh Fruit International, Ltd. — 2001
	 
	 	3.	 	Standard Fruit Company (Delaware) — 2001

	 	•	 	Ecuador

	 	1.	 	Union de Bananeros Ecuatorianos, S.A — 1992 and 2000-2003
	 
	 	2.	 	Productora Cartonera, S.A. — 1995 and 2000-2003
	 
	 	3.	 	Inversiones Floricola S.D.R.L. — 2000-2001
	 
	 	4.	 	Standard Fruit Ecuador (US) — 1992-1995

	 	•	 	Philippines

	 	1.	 	Quantum Foods, Inc. — 2002-2005

	 	•	 	Thailand

	 	1.	 	Dole Thailand, Ltd. — 2003
	 
	 	2.	 	Thai American Food Co., Ltd. — 2004

 

 

Schedule XVI

Page 2

Taxes (Statute of Limitations)

 Flower Companies (Colombia)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Date of Execution	 	Length of Time	 	 	 	 
	Company	 	Year	 	of Waiver	 	Extended	 	Expiration	 	Type of Tax
	1. Americaflor Ltda.
	 	 	2003	 	 	Automatic	 	6 Months	 	 	8/30/2006	 	 	Income

DOLE FOOD COMPANY, INC. & SUBSIDIARIES

	 	 	 	 	 	 	 
	 	 	 	 	 	 	CURRENT
	 	 	TAXABLE	 	ORIGINAL	 	EXTENDED
	ENTITY	 	YEAR-END	 	TOLL	 	DATE
	DOLE FOOD COMPANY, INC. & SUBSIDIARIES
	 	12/30/1995	 	9/15/1999	 	12/31/2006
	(FORMERLY CASTLE & COOKE, INC.)
	 	12/28/1996	 	9/15/2000	 	12/31/2006
	 
	 	1/3/1998	 	9/15/2001	 	12/31/2006
	 
	 	1/2/1999	 	9/15/2002	 	12/31/2006
	 
	 	1/1/2000	 	9/15/2003	 	12/31/2006
	 
	 	12/30/2000	 	9/15/2004	 	12/31/2006
	 
	 	12/29/2001	 	9/15/2005	 	12/31/2006
	 
	 	12/28/2002	 	9/15/2006	 	12/31/2006
	 
	 	 	 	 	 	 
	DHM HOLDING COMPANY, INC.
	 	12/30/1995	 	9/15/1999	 	12/31/2006
	SUCCESSOR IN MERGER TO DOLE FOOD COMPANY,
INC.
	 	12/28/1996	 	9/15/2000	 	12/31/2006
	 
	 	1/3/1998	 	9/15/2001	 	12/31/2006
	 
	 	1/2/1999	 	9/15/2002	 	12/31/2006
	 
	 	1/1/2000	 	9/15/2003	 	12/31/2006
	 
	 	12/30/2000	 	9/15/2004	 	12/31/2006
	 
	 	12/29/2001	 	9/15/2005	 	12/31/2006
	 
	 	12/28/2002	 	9/15/2006	 	12/31/2006
	 
	 	1/3/2004	 	9/15/2007	 	 
	 
	 	1/1/2005	 	9/15/2008	 	 
	 
	 	 	 	 	 	 
	LANAI RESORT PARTNERS (final return 12/8/95)
	 	12/30/1995	 	9/15/1999	 	12/31/2006
	 
	 	 	 	 	 	 
	DOLE DRIED FRUIT AND NUT CO.
	 	12/7/1995	 	9/15/1999	 	12/31/2006
	 
	 	12/30/1995	 	9/15/1999	 	12/31/2006
	 
	 	12/28/1996	 	9/15/2000	 	12/31/2006
	 
	 	1/3/1998	 	9/15/2001	 	 

 

 

Schedule XVI

Page 3

	 	 	 	 	 	 	 
	 	 	 	 	 	 	CURRENT
	 	 	TAXABLE	 	ORIGINAL	 	EXTENDED
	ENTITY	 	YEAR-END	 	TOLL	 	DATE
	 
	 	1/2/1999	 	9/15/2002	 	 
	 
	 	1/1/2000	 	9/15/2003	 	 
	 
	 	12/30/2000	 	9/15/2004	 	12/31/2006
	 
	 	12/29/2001	 	9/15/2005	 	12/31/2006
	 
	 	 	 	 	 	 
	DOLE FRESH FRUIT EUROPE, LTD. & CO.
	 	12/30/2000	 	9/15/2004	 	12/31/2006
	 
	 	12/29/2001	 	9/15/2005	 	12/31/2006
	 
	 	 	 	 	 	 
	DOLE EXPORT CO. LTD. (Form 1120FSC)
	 	12/31/2001	 	9/15/2005	 	12/31/2006
	 
	 	 	 	 	 	 
	FORMS 1120F
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	DOLE FRESH FRUIT INTERNATIONAL LIMITED
	 	12/30/1995	 	12/15/1999	 	12/31/2006
	 
	 	12/28/1996	 	6/15/2000	 	12/31/2006
	 
	 	1/3/1998	 	6/15/2001	 	12/31/2006
	 
	 	1/2/1999	 	6/15/2002	 	12/31/2006
	 
	 	1/1/2000	 	6/15/2003	 	12/31/2006
	 
	 	12/30/2000	 	6/15/2004	 	12/31/2006
	 
	 	12/29/2001	 	6/15/2005	 	12/31/2006
	 
	 	12/28/2002	 	6/15/2006	 	12/31/2006

 

 

SCHEDULE XVII

SCHEDULE XVII Initial Qualified Jurisdictions

Bermuda, Canada, Chile, Ecuador, Hong Kong, Japan, Liberia.

 

 

SCHEDULE XVIII

POST-CLOSING MATTERS

Part A — Real Property Actions

	 	 	 
	Date	 	Action
	Not later than 60
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	Each Credit Agreement Party will, and will cause its Subsidiaries which are
Credit Agreement Parties or Subsidiary Guarantors, to grant to the Collateral
Agent security interests and mortgages (each, a “Required Mortgage”): (i) in
each owned property shown on Schedule III which is not Principal Property and
which is not encumbered as of the Restatement Effective Date; and (ii) in each
leased property shown on Schedule III which is not a Principal Property,
which is not encumbered as of the Restatement Effective Date and for which
landlord consent to a Required Mortgage either has been received or is not
required pursuant to the terms of the respective lease. In addition, each Credit
Agreement Party will, and will cause its Subsidiaries which are Credit
Agreement Parties or Subsidiary Guarantors, to deliver to the Collateral Agent
with respect to each Required Mortgage:
	 
	 	 
	 

	 	(i) a Mortgage Policy relating to each Mortgage of the Mortgaged
Property referred to above, issued by a title insurer reasonably satisfactory to
the Collateral Agent, in an insured amount satisfactory to the Collateral Agent
and insuring the Collateral Agent that the Mortgage on each such Mortgaged
Property is a valid and enforceable first priority mortgage lien on such
Mortgaged Property, free and clear of all defects and encumbrances except
Permitted Encumbrances, with each such Mortgage Policy (1) to be in form
and substance reasonably satisfactory to the Collateral Agent, (2) to include,
to the extent available in the applicable jurisdiction, supplemental
endorsements (including, without limitation, endorsements relating to future
advances under this Agreement and the Loans, usury, first loss, last dollar, tax
parcel, subdivision, zoning, contiguity, variable rate, doing business, public
road access, survey, environmental lien, mortgage tax and so-called
comprehensive coverage over covenants and restrictions and for any other
matters that the Collateral Agent in its discretion may reasonably request), (3)
to not include the “standard” title exceptions, a survey exception or an
exception for mechanics’ liens, and (4) to provide for affirmative insurance
and such reinsurance as the Collateral Agent in its discretion may reasonably
request;

	 
	 	 
	 

	 	(ii) to induce the title company to issue the Mortgage Policies
referred to in subsection (ii) above, such affidavits, certificates, information
and instruments of indemnification (including, without limitation, a so-called
“gap” indemnification) as shall be required by the Title Company, together
with payment by the mortgagor or trustor of all Mortgage Policy premiums,
search and examination charges, mortgage recording taxes, fees, charges,
costs and expenses required for the recording of such Mortgages and issuance
of such Mortgage Policies;

	 
	 	 
	 

	 	(iii) to the extent reasonably requested by the Collateral Agent, a survey

 

 

Schedule XVIII

Page 2

	 	 	 
	Date	 	Action
	 

	 	of each Mortgaged Property (and all improvements thereon) (a) prepared by a
surveyor or engineer licensed to perform surveys in the state, commonwealth
or applicable jurisdiction where such Mortgaged Property is located, (b) dated
not earlier than six months prior to the date of delivery thereof, (c)
certified by the surveyor (in a manner reasonably acceptable to the Collateral
Agent) to the Collateral Agent in its capacity as such and the title insurer; (d)
complying in all respects with the minimum detail requirements of the
American Land Title Association as such requirements are in effect on the
date of preparation of such survey, and (e) in all events, sufficient for the title
insurer to remove all standard survey exceptions from the Mortgage Policy
relating to such Mortgaged Property and to issue the endorsements required
pursuant to the provisions of preceding clause (ii);

	 
	 	 
	 

	 	(iv) flood certificates covering each Mortgaged Property in form and
substance acceptable to the Collateral Agent in its capacity as such and
certifying whether or not each such Mortgaged Property is located in a flood
hazard zone by reference to the applicable FEMA map;

	 
	 	 
	 

	 	(v) with respect to leased properties, fully executed landlord waivers and/or
bailee agreements in form and substance reasonably satisfactory to the
Collateral Agent; and

	 
	 	 
	 

	 	(vi) if requested by the Collateral Agent in its reasonable discretion, an
opinion from local counsel in the jurisdiction where the land to be
encumbered by the Required Mortgage is located, covering such matters as
the Collateral Agent may reasonably request, including, but not limited to the
enforceability of the Required Mortgage.

 

 

Schedule XVIII

Page 3

Part B — Actions by Various Foreign Subsidiaries

	 	 	 	 	 	 	 
	JURISDICTION	 	DATE	 	ACTION
	ITALY	 	Not later than 45 days after the
Restatement Effective Date, or
such later date as is acceptable
to the Administrative Agent.	 	Each Italian Guarantor shall deliver notices,
in form and substance reasonably satisfactory
to the Administrative Agent, to the Italian
depository banks informing them that the
previous Italian pledges have been released
and that the new Italian pledges have been
recorded.
	 
	 	 	 	 	 	 
	CHILE	 	Not later than 45 days after the
Restatement Effective Date, or
such later date as is acceptable
to the Administrative Agent.	 	Each Chilean Guarantor shall have duly
authorized, executed and delivered to the
Administrative Agent Bond Reserves
(Reserva de Cauciones) in the agreed form.
	 
	 	 	 	 	 	 
	SWEDEN	 	Not later than 45 days after the
Restatement Effective Date, or
such later date as is acceptable
to the Administrative Agent.	 	Each of the following entities (each a
“Swedish Guarantor”, and, collectively, the
“Swedish Guarantors”):
	 
	 	 	 	 	 	 
	 

	 	 	 	     (i)
	 	SABA Trading Holding AB;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (ii)
	 	SABA Trading AB;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (iii)
	 	AB Banan-Komaniet;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (iv)
	 	S Attehogen Ostra 3 KB;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (v)
	 	SABA Blommor AB;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (vi)
	 	SABA Fresh Cuts SA;
	 
	 	 	 	 	 	 
	 

	 	 	 	     (vii)
	 	SABA Frukt & Gront AG; and
	 
	 	 	 	 	 	 
	 

	 	 	 	     (viii)
	 	Skandinaviska Banimporten AB;
	 
	 	 	 	 	 	 
	 	 	 	 	shall have duly authorized, executed and
delivered to the Administrative Agent Share
Pledge Agreements in the agreed to form and
shall deliver share certificates to the
Collateral Agent pursuant thereto.
Furthermore, SABA Trading Holding AB and
SABA Trading AB shall issue board
resolutions, in form and substance
satisfactory to the Administrative Agent,
approving the above mentioned pledges of
shares.

 

 

Schedule XVIII

Page 4

Part C — Signature Pages

	 	 	 
	Date	 	Action
	Not more than 45
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	The following entities shall authorize, execute and deliver to the Administrative
Agent their signatures to the Foreign Subsidiaries Guaranty Acknowledgment
and Amendment:

REEFERSHIP MARINE SERVICES, LTD.

DOLE FOREIGN HOLDINGS, LTD.

DOLE FOREIGN HOLDINGS II, LTD.

HOPS LIMITED

DOLE FOODS OF CANADA LTD.
	 

	 	AGRICOLA EUFEMIA LTDA
	 

	 	AGROPECUARIA SAN GABRIEL LTDA.
	 

	 	AGROPECUARIA SAN PEDRO LTDA.
	 

	 	BANA LTDA.
	 

	 	COMPANIA EXPORTADORA DE PRODUCTOS AGRICOLAS S.C.A.
	 

	 	INVERSIONES ORIHUECA LTDA.
	 

	 	SERVICIOS TECNICOS BANANEROS LTDA.
	 

	 	C.I. AGRICOLA EL CASTILLO LTDA.
	 

	 	AMERICAFLOR LTDA.
	 

	 	C. I. AGRICOLA EL CASTILLO LTDA.
	 

	 	C.I. COLOMBIAN CARNATIONS LTDA.
	 

	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA.
	 

	 	C.I. CULTIVOS DEL CARIBE LTDA.
	 

	 	C.I. CULTIVOS SAN NICOLAS LTDA.
	 

	 	C.I. FLORAMERICA LTDA.
	 

	 	C.I. FLORES ALTAMIRA LTDA.
	 

	 	C.I. FLORES DE EXPORTACION LTDA.
	 

	 	C.I. FLORES LA FRAGANCIA LTDA.
	 

	 	C.I. FLORES LAS PALMAS LTDA.
	 

	 	C.I. FLORES PRIMAVERA LTDA.
	 

	 	FLORES SAN JOAQUIN LTDA.
	 

	 	C.I. JARDINES DE COLOMBIA LTDA.
	 

	 	C.I. JARDINES DEL VALLE LTDA.
	 

	 	C.I. OLYMPIA FLOWERS LTDA.
	 

	 	C.I. PORCELAIN FLOWERS LTDA.
	 

	 	C.I. SANTA MONICA FLOWERS LTDA.
	 

	 	C.I. SPLENDOR FLOWERS LTDA.
	 

	 	TENICAS BALTIME DE COLOMBIA S.A.
	 

	 	DISTRIBUIDORA DE FRUTA Y VEGETALES, S.A.
	 

	 	C. I. PORCELAIN FLOWERS LTDA.
	 

	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA)B
	 

	 	ANANACORP S.A.
	 

	 	BANCUBER S.A.
	 

	 	COMPANIA NAVIERA AGMARESA, S.A.
	 

	 	FRIOCONT S.A.
	 

	 	FRUTBAN S.A.

 

 

Schedule XVIII

Page 5

	 	 	 
	Date	 	Action
	 

	 	GRANELCONT S.A.
	 

	 	GUAYAMI S.A.
	 

	 	MEGABANANA S.A.
	 

	 	MODUMOLL S.A.
	 

	 	NAPORTEC S.A.
	 

	 	PRODUCTOS DEL LITORAL S.A. (PROLISA)
	 

	 	REDAMAWAL S.A.
	 

	 	SIEMBRANUEVA S.A.
	 

	 	FLORES MITAD DEL MUNDO LTDA.
	 

	 	UBESAIR, S.A.
	 

	 	UNION DE BANANEROS ECUATORIANOS, S.A.
	 

	 	ZANPOTI, S.A.
	 

	 	TINADI S.A.
	 

	 	AGROVERDE S.A.
	 

	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A.
	 

	 	BETINO S.A.
	 

	 	PESCASEROLI S.A.
	 

	 	BRUNETTI S.A.
	 

	 	COMERCIAL INDUSTRIAL ECUATORIANA, S.A.
	 

	 	PRODUCTORA CARTONERA, S.A.
	 

	 	PRODUCTOS DEL LITORAL S.A.
	 

	 	PROPOLISA, S.A.
	 

	 	TALLERES Y LLANTAS, S.A.
	 

	 	TECNICOS Y ELECTRICISTAS S.A.
	 

	 	TRANSPORTES POR MAR S.A.
	 

	 	DOLE DEUTSCHLAND BETEILIGUNGSGESELLSCHAFT MBH
	 

	 	DOLE DEUTSCHLAND GMBH
	 

	 	DOLE FRESH FRUIT EUROPE OHG
	 

	 	PAUL KEMPOWSKI GMBH & CO. KG
	 

	 	INDUSTRIA ACEITERA HONDURENA, S.A.
	 

	 	DOLE ITALIA S.P.A.
	 

	 	FRATELLIISELLA S.R.L.
	 

	 	COMAFRICA
	 

	 	DOLE TERM S.R.L
	 

	 	TROPICAL SHIPPING ITALIANAS.P.A.
	 

	 	IT & COMMUNICATIONS PHILIPPINES, INC.
	 

	 	DOLE FRESH FRUIT MED GIDA URUNLERI TICARET VE A.S.
	 

	 	PEMATIN S.A.
	 

	 	AB BANAN-KOMPANIET
	 

	 	S ATTEHOGEN OSTRA 3 KB
	 

	 	SABA BLOMMOR AB
	 

	 	SABA FRESH CUTS SA
	 

	 	SABA FRÜKT & GRÖNT AB
	 

	 	SABA TRADING AB
	 

	 	SABA TRADING HOLDING
	 

	 	SKANDINAVISKA BANANIMPORTEN AB

 

 

Schedule XVIII

Page 6

	 	 	 
	Date	 	Action
	Not more than 45
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	The following entities shall authorize, execute and deliver to the Administrative
Agent their signatures to the Intercompany Subordination Acknowledgment and
Amendment:

APACHE GROVE LAND, 1970 LIMITED

APACHE GROVE LAND, 1971 LIMITED

APACHE GROVE LAND, 1972 LIMITED

REEFERSHIP MARINE SERVICES, LTD.

DOLE FOREIGN HOLDINGS, LTD.
	 

	 	DOLE FOREIGN HOLDINGS II, LTD.
	 

	 	HOPS LIMITED
	 

	 	DOLE FOODS OF CANADA LTD.
	 

	 	AGRICOLA EUFEMIA LTDA
	 

	 	AGROPECUARIA SAN GABRIEL LTDA.
	 

	 	AGROPECUARIA SAN PEDRO LTDA.
	 

	 	BANA LTDA.
	 

	 	COMPANIA EXPORTADORA DE PRODUCTOS AGRICOLAS S.C.A.
	 

	 	INVERSIONES ORIHUECA LTDA.
	 

	 	SERVICIOS TECNICOS BANANEROS LTDA.
	 

	 	C.I. AGRICOLA EL CASTILLO LTDA.
	 

	 	AMERICAFLOR LTDA.
	 

	 	C. I. AGRICOLA EL CASTILLO LTDA.
	 

	 	C.I. COLOMBIAN CARNATIONS LTDA.
	 

	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA.
	 

	 	C.I. CULTIVOS DEL CARIBE LTDA.
	 

	 	C.I. CULTIVOS SAN NICOLAS LTDA.
	 

	 	C.I. FLORAMERICA LTDA.
	 

	 	C.I. FLORES ALTAMIRA LTDA.
	 

	 	C.I. FLORES DE EXPORTACION LTDA.
	 

	 	C.I. FLORES LA FRAGANCIA LTDA.
	 

	 	C.I. FLORES LAS PALMAS LTDA.
	 

	 	C.I. FLORES PRIMAVERA LTDA.
	 

	 	FLORES SAN JOAQUIN LTDA.
	 

	 	C.I. JARDINES DE COLOMBIA LTDA.
	 

	 	C.I. JARDINES DEL VALLE LTDA.
	 

	 	C.I. OLYMPIA FLOWERS LTDA.
	 

	 	C.I. PORCELAIN FLOWERS LTDA.
	 

	 	C.I. SANTA MONICA FLOWERS LTDA.
	 

	 	C.I. SPLENDOR FLOWERS LTDA.
	 

	 	TENICAS BALTIME DE COLOMBIA S.A.
	 

	 	DISTRIBUIDORA DE FRUTA Y VEGETALES, S.A.
	 

	 	C. I. PORCELAIN FLOWERS LTDA.
	 

	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA)B
	 

	 	ANANACORP S.A.
	 

	 	BANCUBER S.A.
	 

	 	COMPANIA NAVIERA AGMARESA, S.A.
	 

	 	FRIOCONT S.A.
	 

	 	FRUTBAN S.A.
	 

	 	GRANELCONT S.A.
	 

	 	GUAYAMI S.A.

 

 

Schedule XVIII

Page 7

	 	 	 
	Date	 	Action
	 

	 	MEGABANANA S.A.
	 

	 	MODUMOLL S.A.
	 

	 	NAPORTEC S.A.
	 

	 	PRODUCTOS DEL LITORAL S.A. (PROLISA)
	 

	 	REDAMAWAL S.A.
	 

	 	SIEMBRANUEVA S.A.
	 

	 	FLORES MITAD DEL MUNDO LTDA.
	 

	 	UBESAIR, S.A.
	 

	 	UNION DE BANANEROS ECUATORIANOS, S.A.
	 

	 	ZANPOTI, S.A.
	 

	 	TINADI S.A.
	 

	 	AGROVERDE S.A.
	 

	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A.
	 

	 	BETINO S.A.
	 

	 	PESCASEROLI S.A.
	 

	 	BRUNETTI S.A.
	 

	 	COMERCIAL INDUSTRIAL ECUATORIANA, S.A.
	 

	 	PRODUCTORA CARTONERA, S.A.
	 

	 	PRODUCTOS DEL LITORAL S.A.
	 

	 	PROPOLISA, S.A.
	 

	 	TALLERES Y LLANTAS, S.A.
	 

	 	TECNICOS Y ELECTRICISTAS S.A.
	 

	 	TRANSPORTES POR MAR S.A.
	 

	 	DOLE DEUTSCHLAND BETEILIGUNGSGESELLSCHAFT MBH
	 

	 	DOLE DEUTSCHLAND GMBH
	 

	 	DOLE FRESH FRUIT EUROPE OHG
	 

	 	PAUL KEMPOWSKI GMBH & CO. KG
	 

	 	COMPANIA AGRICOLA INDUSTRIAL CEIBENA, S.A.
	 

	 	COMPANIA AGRICOLA MAZAPAN, S.A.
	 

	 	COMPANIA AGROPECUARIA EL PORVENIR, S.A.
	 

	 	CLINICAS MEDICAS DEL AGUAN, S.A.
	 

	 	COORDINADORA DE SERVICIOS DE TRANSPORTE, SA
	 

	 	DESARROLLOS URBANOS LA CEIBA, S.A.
	 

	 	DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A.
	 

	 	INDUSTRIA ACEITERA HONDURENA, S.A.
	 

	 	DOLE ITALIA S.P.A.
	 

	 	FRATELLI ISELLA S.R.L.
	 

	 	COMAFRICA
	 

	 	DOLE TERM S.R.L
	 

	 	TROPICAL SHIPPING ITALIANAS.P.A.
	 

	 	DOLE FRESH FRUIT MED GIDA URUNLERI TICARET VE A.S.
	 

	 	PEMATIN S.A.
	 

	 	AB BANAN-KOMPANIET
	 

	 	S ATTEHOGEN OSTRA 3 KB
	 

	 	SABA BLOMMOR AB
	 

	 	SABA FRESH CUTS SA
	 
	 	SABA FRÜKT & GRÖNT AB
	 

	 	SABA TRADING AB

 

 

Schedule XVIII

Page 8

	 	 	 
	Date	 	Action
	 

	 	SABA TRADING HOLDING
	 

	 	SKANDINAVISKA BANANIMPORTEN AB
	 

	 	DOLE PACIFIC GENERAL SERVICES, LTD.
	 

	 	TRANSTRADING OVERSEAS, LTD.
	 

	 	DOLE EXPORT COMPANY, LTD.
	 

	 	VERENIGDE BANANEN HANDELAREN N.V.
	 

	 	DOLE BRASIL, LTDA
	 

	 	ALTALANOS TECHNOLOGY, INC.
	 

	 	ASPEN INTERNATIONAL, INC.
	 

	 	BANAPLUS INCORPORATED
	 

	 	BLUEWATER INDUSTRIES LIMITED
	 

	 	BOGOR CAPITAL LIMITED
	 

	 	BROOK INVESTMENT LIMITED
	 

	 	CARDANZ TECHNOLOGIES CORP.
	 

	 	INVERSIONES COMERTEX, S.A.
	 

	 	JOROKO INTERTRADE LTD.
	 

	 	LIVERPOOL INTERNATIONAL, S.A.
	 

	 	MARSELLA INTERNATIONAL, CORP.
	 

	 	MILANO TRADING CORPORATION
	 

	 	MONACO INVESTMENT CORP.
	 

	 	NEWENT TRADING INC.
	 

	 	NOIR VENTURES CORP.
	 

	 	NORWICK TECHNOLOGIES CORP.
	 

	 	OPAL RESOURCES LTD.
	 

	 	POLAR TRADING CORP.
	 

	 	RIVERWOOD MANAGEMENT COMPANY INC.
	 

	 	PLATANO COMUNITARIO, S.A.
	 

	 	DOLE EAST s.r.o.
	 

	 	ENERO S.A.
	 

	 	DOLE EUROPE SAS
	 

	 	DOLE FRANCE, SAS
	 

	 	DOLE PACKAGED FOODS EUROPE SAS
	 

	 	SOLEIL HOLDING FRANCE SAS
	 

	 	DOLE FRESH FRUIT SOUTH SAS
	 

	 	IMPORTS-EXPORTS-TRADING OF FRESH FRUIT DOLE HELLAS EPE
	 

	 	ENERGUA, S.A.
	 

	 	LAS FRUTAS, S.A.
	 

	 	SERVICIOS TECNICIOS PORTUARIOS, S.A.
	 

	 	STANDARD FRUIT DE GUATEMALA, S.A.
	 

	 	TROPICAL NAVIGATION (MALTA) LIMITED
	 

	 	COMERCIALIZACIONES SUNMEX MEXICANA, S.A. DE C.V.
	 
	 	 
	 

	 	MEXICOTEC, S.A. DE C.V.
	 

	 	FLORES LUCITANIA S. DE R.L. DE C.V.
	 

	 	DOLE EUROPE BV
	 

	 	DOLE HOLLAND BV
	 

	 	FUMIGADORA NICARAGUENSE
	 

	 	STANDARD FRUIT DE NICARAGUA S.A.

 

 

Schedule XVIII

Page 9

	 	 	 
	Date	 	Action
	 

	 	INTEROCEAN FINANCIAL MANAGEMENT CORPORATION
	 

	 	INVERSIONISTA FORTUNA, S.A.
	 

	 	INVERSIONISTA ZARATI, S.A.
	 

	 	BENVUE INTERNATIONAL, INC.
	 

	 	BLOCK INVESTMENTS, INC.
	 

	 	COMERCIAL AGROFLOR, S. DE R. L.
	 

	 	DELTA TREE ENTERPRISES, S. DE R. L.
	 

	 	DOLE AVIATION, INC.
	 

	 	DOLE FRESH FRUIT INTERNATIONAL, INC.
	 

	 	FLOWER INTERNATIONAL, S. DE R. L.
	 

	 	GALANA INTERNACIONAL, S. DE R. L.
	 

	 	IMPORTADORA Y EXPORTADORA NOPAL, S. DE R. L.
	 

	 	IMPORTADORA Y EXPORTADORA ROVEGO, S. DE R. L.
	 

	 	INVERSIONES CROWN, S. DE R. L.
	 

	 	INVERSIONES FLORICOLA S. DE R. L.
	 

	 	NICOLLE INTERNATIONAL, S. DE R. L.
	 

	 	OPERACIONES TROPICALES, S.A.
	 

	 	PEYTON FLOWERS, S. DE R. L.
	 

	 	PRELL CORPORATION
	 

	 	SINGLE TREE CORPORATION
	 

	 	STANDARD FRUIT DE PANAMA, S.A.
	 

	 	TEATREE, INC.
	 

	 	TRIPLEJAY INVESTMENT CORP., S.A.
	 

	 	COPDEBAN S.A.C.
	 

	 	DOLE POLAND SP.ZO.O.
	 

	 	DOLE SOUTH AFRICA LTD
	 

	 	FRUIT CARE SERVICES
	 

	 	MALEMBO LTD
	 

	 	DOLE FOOD ESPANA
	 

	 	VIUDA DE SABATE
	 

	 	AB BANAN-KOMPANIET
	 

	 	S ATTEHOGEN OSTRA 3 KB
	 

	 	DOLE U.K. LIMITED
	 

	 	DOLE DE VENEZUELA, S.A.
	 

	 	INVERSIONES AGRICA, S.A.
	 

	 	INVERSIONES DEL AGRO, C.A.
	 

	 	INTERVEST, INC.

 

 

Schedule XVIII

Page 10

Part D — Other Actions

	 	 	 
	Date	 	Action
	Not more than 45
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	Dole Holding Company, Inc. shall be permanently merged into Intermediate
Holdco, with Intermediate Holdco being the surviving corporation, and
Intermediate Holdco shall have provided evidence and documentation
satisfactory to the Administrative Agent evidencing the same.
	 
	 	 
	Not more than 90
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	The Borrowers shall provide to the Administrative Agent supplement any
information to be added to Schedule XII (Certain Foreign Security Documents,
Foreign Subsidiaries Party to Foreign Security Document, etc.) to complete
such Schedule XII, without deleting any of the matters disclosed therein on the
Restatement Effective Date.
	 
	 	 
	Not more than 90
days after the
Restatement
Effective Date, or
such later date as
is acceptable to
the
Administrative
Agent.

	 	The Borrowers shall provide to the Administrative Agent revised information to
be added to Schedule III (Real Properties) to complete such Schedule III.
	 
	 	 
	Not more than 90
days after the
Restatement
Effective Date.

	 	With respect to each of the Existing Letters of Credit and Existing Bank
Guaranties listed on Schedule XI issued by Société Générale (or any affiliate or
branch thereof), the Borrowers shall have either (x) substituted or terminated
each such Existing Letter of Credit and Existing Bank Guaranty or (y) caused an
Issuing Lender satisfactory to Société Générale to issue a ‘back-stop’ letter of
credit in an aggregate amount equal to 100% of the aggregate face amount or
stated amount, as the case may be, of each such Existing Letter of Credit and
Existing Bank Guaranty for the benefit of the respective Issuer Lender or Bank
Guaranty Issuer, as the case may be, thereof, in form and substance satisfactory to Société Générale.

 

 

EXHIBIT A-1

FORM OF NOTICE OF BORROWING

Deutsche Bank AG New York Branch,

   as Administrative Agent (the
“Administrative Agent”) for the Lenders party to the
Credit Agreement referred to below

60 Wall Street

New York, New York 10019

Attention: Marguerite Sutton

Ladies and Gentlemen:

          The undersigned, [Dole Food Company, Inc.]1 [Solvest, Ltd.]2 (the
“Borrower”), refers to the Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005 and further amended and restated as of April 12, 2006 (as so amended
and restated and as the same may be further amended, restated, modified and/or supplemented from
time to time, the “Credit Agreement”, the terms defined therein being used herein as
therein defined), among DHM Holding Company, Inc., Dole Holding Company, LLC, the Borrower, [Dole
Food Company, Inc.] [Solvest, Ltd.], the Lenders from time to time party thereto, Banc of America
Securities LLC, as Syndication Agent, The Bank of Nova Scotia, as Documentation Agent, Deutsche
Bank Securities Inc., as Lead Arranger and Sole Book Runner, and you, as Administrative Agent and
Deposit Bank, and hereby gives you notice, irrevocably, pursuant to Section 1.03 of the Credit
Agreement, that the undersigned hereby requests a Borrowing under the Credit Agreement, and in
that connection sets forth below the information relating to such Borrowing (the “Proposed
Borrowing”) as required by Section 1.03 of the Credit Agreement:

     (i) The aggregate principal amount of the Proposed Borrowing is
[$                    ].

     (ii) The Business Day of the Proposed Borrowing is [                          ,                     ].

     (iii) The Proposed Borrowing shall consist of [Tranche B Term Loans] [Tranche C Term
Loans] [U.S. Borrower Incremental Term Loans] [Bermuda Borrower Incremental Term Loans].

 

			
	1	 	To be included for a Proposed Borrowing of Tranche B Term Loans and U.S. Borrower
Incremental Term Loans.
	 
	2	 	To be included for a Proposed Borrowing of Tranche C Term Loans and Bermuda Borrower
Incremental Term Loans.

 

 

Exhibit A-1

Page 2

     (iv) The Loans to be made pursuant to the Proposed Borrowing shall be initially
maintained as [Base Rate Loans] [Eurodollar Loans].

     [(v) The initial Interest Period for the Proposed Borrowing is [one week] [one month]
[two months] [three months] [six months] [, subject to availability to all Lenders which
are required to make Loans of the respective Tranche, [[nine] [twelve] months], and if such
Interest Period is unavailable [specify alternate
desired]].]3

     (vi) The location and number of the Borrower’s account to which funds are to be
disbursed is:

Bank
Name: [          ]

ABA#: [          ]

A/C Name: [          ]

A/C#: [          ]

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

     (A) the representations and warranties contained in the Credit Agreement or the other
Credit Documents are and will be true and correct in all material respects, before and
after giving effect to the Proposed Borrowing and to the application of the proceeds
thereof, as though made on such date, unless stated to relate to a specific earlier date,
in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date; and

 

			
	3	 	To be included for a Proposed Borrowing of Eurodollar Loans. Unless the Syndication
Date has theretofore occurred, the duration of any Interest Period is subject to the
limitations provided in Section 1.09. Interest Periods of nine and twelve months may only be
selected in the case of a Borrowing of Eurodollar Loans and if such Interest Period is agreed
to all Lenders under the respective Tranche.

 

 

Exhibit A-l

Page 3

     (B) no Default or Event of Default has occurred and is continuing, or would result from such
Proposed Borrowing or from the application of the proceeds thereof, in each case immediately after
giving effect thereto.

	 	 	 	 	 
	 	Very truly yours,

[DOLE FOOD COMPANY, INC.] 

[SOLVEST, LTD.]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT A-2

FORM OF NOTICE OF CONVERSION/CONTINUATION

[Date]

Deutsche Bank AG New York Branch,

   as Administrative Agent (the
“Administrative Agent”) for the Lenders party to the
Credit Agreement referred to below

60 Wall Street

New York, New York 10019

Attention: Marguerite Sutton

Ladies and Gentlemen:

          The undersigned, [Dole Food Company, Inc.] [Solvest, Ltd.] (the “Borrower”), refers
to the Credit Agreement, dated as of March 28, 2003, amended and restated as of April 18, 2005 and
further amended and restated as of April 12, 2006 (as so amended and restated and as the same may
be further amended, restated, modified and/or supplemented from time to time, the “Credit
Agreement”, the terms defined therein being used herein as therein defined), among DHM Holding
Company, Inc., Dole Holding Company, LLC, the Borrower, [Dole Food Company, Inc.] [Solvest, Ltd.],
the Lenders from time to time party thereto, Banc of America Securities LLC, as Syndication Agent,
The Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger
and Sole Book Runner, and you, as Administrative Agent and Deposit Bank, and hereby give you
notice, irrevocably, pursuant to Section [1.06] [1.09] of the Credit Agreement, that the
undersigned hereby requests to [convert] [continue] the Borrowing of [Tranche B Term Loans]
[Tranche C Term Loans] [U.S. Borrower Incremental Term Loans] [Bermuda Borrower Incremental Term
Loans] referred to below, and in that connection sets forth below the information relating to such
[conversion] [continuation] (the “Proposed [Conversion] [Continuation]”) as required by
Section [1.06] [1.09] of the Credit Agreement:

          (i) The Proposed [Conversion] [Continuation] relates to the Borrowing of [Tranche B Term
Loans] [Tranche C Term Loans] denominated in Dollars originally made on
                          ,                      (the “Outstanding Borrowing”) in the principal amount of
$                     and
currently maintained as a Borrowing of [Base Rate Loans] [Eurodollar Loans with an Interest Period ending on
                          ,                     ].

 

 

Exhibit A-2

Page 2

          (ii) The
Business Day of the Proposed [Conversion] [Continuation] is                     .1

          (iii) The Outstanding Borrowing shall be [continued as a Borrowing of
Eurodollar Loans with an Interest Period of                     ] [converted into a Borrowing of [Base Rate
Loans] [Eurodollar Loans with an Interest Period of                     ]].2

          [The undersigned hereby certifies that no Default or Event of Default has occurred and is
continuing on the date hereof or will have occurred and be continuing on the date of the Proposed
[Conversion] [Continuation].]3

	 	 	 	 	 
	 	Very truly yours,

[DOLE FOOD COMPANY, INC.] 

[SOLVEST, LTD.]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	Shall be a Business Day at least three Business Days after the date hereof,
provided that such notice shall be deemed to have been given on a certain day only if
given before 12:00 Noon (New York time) on such day.
	 
	2	 	In the event that either (x) only a portion of the Outstanding Borrowing is to be so
converted or continued or (y) the Outstanding Borrowing is to be divided into separate
Borrowings with different Interest Periods, the Borrower should make appropriate
modifications to this clause to reflect same.
	 
	3	 	In the case of a Proposed Conversion or Continuation, insert this sentence only in
the event that the conversion is from a Base Rate Loan to a Eurodollar Loan or in the case of
a continuation of a Eurodollar Loan.

 

 

EXHIBIT B-l 

FORM OF TRANCHE B TERM NOTE 

			
	 	 	 
	$                    
	 	New York, New York
	 
	 	                          ,      

          FOR VALUE RECEIVED, DOLE FOOD COMPANY, INC., a Delaware corporation (the “U.S.
Borrower”), hereby promises to pay to the order of                      or its registered assigns (the
“Lender”), in lawful money of the United States of America in immediately available funds,
at the Payment Office (as defined in the Agreement referred to below) on the Tranche B/C Term Loan
Maturity Date (as defined in the Agreement) the principal sum of                      DOLLARS ($                    ) or, if
less, the unpaid principal amount of the Tranche B Term Loans (as defined in the Agreement) made by
the Lender pursuant to the Agreement.

          The U.S. Borrower also promises to pay interest on the unpaid principal amount of each
Tranche B Term Loan made by the Lender in like money at said office from the date hereof until
paid at the rates and at the times provided in Section 1.08 of the Agreement. All payments
pursuant to this Note shall be made in accordance with the requirements of Sections 4.03 and 4.04
of the Agreement.

          This Note is one of the Tranche B Term Notes referred to in the Credit Agreement, dated as of
March 28, 2003, amended and restated as of April 18, 2005 and further amended and restated as of
April 12, 2006 (as so amended and restated and as the same may be further amended, restated,
modified and/or supplemented from time to time, the “Agreement”), among DHM Holding
Company, Inc., Dole Holding Company, LLC, the U.S. Borrower, Solvest, Ltd., the lenders from time
to time party thereto (including the Lender), Banc of America Securities LLC, as Syndication Agent,
The Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger
and Sole Book Runner, and Deutsche Bank AG New York Branch, as Administrative Agent and Deposit
Bank, and is entitled to the benefits thereof and of the other Credit Documents (as defined in the
Agreement). This Note is secured by the U.S. Security Documents (as defined in the Agreement) and
is entitled to the benefits of the Guaranties (other than the Foreign Subsidiaries Guaranty, the
Bermuda Borrower’s Guaranty and the U.S. Borrower’s Guaranty under the Credit Agreement Party
Guaranty) (as each such term is defined in the Agreement). This Note is subject to voluntary
prepayment and mandatory repayment prior to the Tranche B/C Term Loan Maturity Date, in whole or in
part, as provided in the Agreement.

          In case an Event of Default (as defined in the Agreement) shall occur and be continuing, the
principal of and accrued interest on this Note may be declared to be due and payable in the manner
and with the effect provided in the Agreement.

          The U.S. Borrower hereby waives presentment, demand, protest or notice of any kind in
connection with this Note.

 

 

Exhibit B-l

Page 2

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK.

	 	 	 	 	 
	 	DOLE FOOD COMPANY, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT B-2

FORM OF TRANCHE C TERM NOTE

			
	 	 	 
	$                    
	 	New York, New York
	 
	 	                          ,      

          FOR VALUE RECEIVED, SOL VEST, LTD., a company organized under the
laws of Bermuda (the “Bermuda Borrower”), hereby promises to pay to the order of                     
or its registered assigns (the “Lender”), in lawful money of the United States of America
in immediately available funds, at the Payment Office (as defined in the Agreement referred to
below) on the Tranche B/C Term Loan Maturity Date (as defined in the Agreement) the principal
sum of                      DOLLARS ($                    ) or, if less, the unpaid principal
amount of the Tranche C Term Loans (as defined in the Agreement) made by the Lender pursuant to
the Agreement.

          The Bermuda Borrower also promises to pay interest on the unpaid principal amount of each
Tranche C Term Loan made by the Lender in like money at said office from the date hereof until paid
at the rates and at the times provided in Section 1.08 of the Agreement. All payments pursuant to
this Note shall be made in accordance with the requirements of Sections 4.03 and 4.04 of the
Agreement.

          This Note is one of the Tranche C Term Notes referred to in the Credit Agreement, dated as of
March 28, 2003, amended and restated as of April 18, 2005 and further amended and restated as of
April 12, 2006 (as so amended and restated and as the same may be further amended, restated,
modified and/or supplemented from time to time, the “Agreement”), among DHM Holding
Company, Inc., Dole Holding Company, LLC, Dole Food Company, Inc., the Bermuda Borrower, the
lenders from time to time party thereto (including the Lender), Banc of America Securities LLC, as
Syndication Agent, The Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc.,
as Lead Arranger and Sole Book Runner, and Deutsche Bank AG New York Branch, as Administrative
Agent and Deposit Bank, and is entitled to the benefits thereof and of the other Credit Documents
(as defined in the Agreement). This Note is secured by the Security Documents (as such term is
defined in the Agreement) and is entitled to the benefits of the Guaranties (other than the
Bermuda Borrower’s Guaranty) (as each such term is defined in the Agreement). This Note is subject
to voluntary prepayment and mandatory repayment prior to the Tranche B/C Term Loan Maturity Date,
in whole or in part, and as provided in the Agreement.

          In case an Event of Default (as defined in the Agreement) shall occur and be continuing, the
principal of and accrued interest on this Note may be declared to be due and payable in the manner
and with the effect provided in the Agreement.

          The Bermuda Borrower hereby waives presentment, demand, protest or notice of any kind in
connection with this Note.

 

 

Exhibit B-2

Page 2

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK.

	 	 	 	 	 
	 	SOLVEST, LTD.

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	Name: 	 
	 

 

 

EXHIBIT B-3

FORM OF INCREMENTAL TERM NOTE

			
	 	 	 
	$                    
	 	New York, New York
	 
	 	                          ,      

          FOR VALUE RECEIVED, [DOLE FOOD COMPANY, INC.] [SOLVEST LTD.]1, a [Delaware
corporation] [company organized under the laws of Bermuda] (the “[U.S.]
[Bermuda] Borrower”), hereby promises to pay to the order of                      or its registered
assigns (the “Lender”), in lawful money of the United States of America in immediately
available funds, at the Payment Office (as defined in the Agreement referred to below) on the
Incremental Term Loan Maturity Date (as defined in the Agreement) the principal sum of
                    
DOLLARS ($                    ) or, if less, the unpaid principal amount
of all                      [Insert the applicable description of the respective Tranche of
Incremental Term Loans] (as defined in the Agreement) made by the Lender pursuant to the
Agreement.

          The [U.S.] [Bermuda] Borrower promises also to pay interest on the unpaid principal amount of
each made by the Lender in like money at said office from the date hereof until paid at the rates
and at the times provided in Section 1.08 of the Agreement. All payments pursuant to this Note
shall be made in accordance with the requirements of Sections 4.03 and 4.04 of the Agreement.

          This Note is one of the Incremental Term Notes referred to in the Credit Agreement, dated as
of March 28, 2003, amended and restated as of April 18, 2005 and further amended and restated as
of April 12, 2006 (as so amended and restated and as the same may be further amended, restated,
modified and/or supplemented from time to time, the “Agreement”), among DHM Holding
Company, Inc., Dole Holding Company, LLC, [the U.S, Borrower, Solvest, Ltd.] [the Bermuda
Borrower, Dole Food Company, Inc.], the lenders from time to time party thereto (including the
Lender), Banc of America Securities LLC, as Syndication Agent, The Bank of Nova Scotia, as
Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger and Sole Book Runner, and
Deutsche Bank AG New York Branch, as Administrative Agent and Deposit Bank, and is entitled to the
benefits thereof and of the other Credit Documents (as defined in the Agreement). [This Note is
secured by the U.S. Security Documents (as such term is defined in the Agreement) and is entitled
to the benefits of the Guaranties (other than the Foreign Subsidiaries Guaranty, the Bermuda
Borrower’s Guaranty and the U.S. Borrower’s Guaranty under the Credit Agreement Party Guaranty)
(as each such term is defined in the Agreement).]2 [This Note is secured by the
Security Documents (as such term is defined in the Agreement) and is entitled to the benefits of
the Guaranties (other than the Bermuda Borrower’s Guaranty) (as each such term is defined in the
Agreement).]3 This Note is subject to voluntary prepayment and mandatory repayment prior to the
Incremental Term Loan

 

			
	1	 	Insert name of Incremental Term Loan Borrower.
	 
	2	 	Insert if the U.S. Borrower is the Incremental Term Loan Borrower.
	 
	3	 	Insert if the Bermuda Borrower is the Incremental Term Loan Borrower.

 

 

Exhibit B-3

Page 2

Maturity Date, in whole or in part, and as provided in the Agreement.

          In case an Event of Default (as defined in the Agreement) shall occur and be continuing, the
principal of and accrued interest on this Note may be declared to be due and payable in the manner
and with the effect provided in the Agreement.

          The [U.S.] [Bermuda] Borrower hereby waives presentment, demand, protest or notice of any kind
in connection with this Note.

 

 

Exhibit B-3

Page 2

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK.

	 	 	 	 	 
	 	[DOLE FOOD COMPANY, INC.]

[SOLVEST, LTD.]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT C-l

FORM OF LETTER OF CREDIT REQUEST

Dated         1        

Deutsche Bank AG New York Branch, as
[Issuing Lender and] as Administrative
Agent and Deposit Bank under the
Credit Agreement, dated as of March
28, 2003, amended and restated as of
April 18, 2005 and further amended and
restated as of April 12, 2006, among
DHM Holding Company, Inc., Dole
Holding Company, LLC, Dole Food
Company, Inc., Solvest, Ltd., the
lenders from time to time party thereto,
Banc of America Securities LLC, as
Syndication Agent, The Bank of Nova
Scotia, as Documentation Agent, and
Deutsche Bank Securities Inc., as Lead
Arranger and Sole Book Runner (as so
amended and restated and as the same
may be further amended, restated,
modified and/or supplemented from
time to time, the “Credit Agreement”,
the terms defined therein being used
herein as therein defined).

60 Wall Street

New York, New York 10005

Attention: [     ]

[[                                        ,
as Issuing Lender under the Credit Agreement

                                        

                                        

                                        ]2

 

			
	1	 	Date of Letter of Credit Request.
	 
	2	 	Insert name and address of Issuing Lender. For Standby Letters of Credit issued by
Deutsche Bank AG New York Branch insert: Deutsche Bank AG New York Branch, 60 Wall Street, New
York, NY 10005-MS NYC 60-2708, Attention: Global Loan Operations, Standby Letter of Credit
Unit. For Trade Letters of Credit issued by Deutsche Bank AG New York Branch insert: Deutsche
Bank AG New York Branch, 60 Wall Street, New York, NY 10005, Attention: Trade and Risk
Services, Import LC. For Letters of Credit issued by another Issuing Lender, insert the
correct notice information for that Issuing Letter.

 

 

Exhibit C-l

Page 2

Dear Sirs:

          Pursuant to Section 2A.03 of the Credit Agreement, we hereby request that the Issuing Lender
referred to above issue a [Trade] [Standby] Letter of Credit for the account of the undersigned on
3 (the “Date of Issuance”) in the aggregate Stated Amount of
4. The requested Letter of Credit shall be denominated in 5 and shall be a [U.S.
Borrower] [Bermuda Borrower]6 Letter of Credit for all purposes of the Credit Agreement and the
other Credit Documents.

          For purposes of this Letter of Credit Request, unless otherwise defined herein, all
capitalized terms used herein which are defined in the Credit Agreement shall have the respective
meaning provided therein.

          The
beneficiary of the requested Letter of Credit will be 7, and such Letter of
Credit will be in support of 8 and will have a stated expiration date of
9.

          We hereby certify that:

	 	(A)	 	the representations and warranties contained in the Credit
Agreement and in the other Credit Documents are and will be true and correct
in all material respects on the Date of Issuance, both before and after giving
effect to the issuance of the Letter of Credit requested hereby, unless stated
to relate to a specific earlier date, in which case such representations and
warranties shall be true and correct in all material respects as of such
earlier date; and

 

			
	3	 	Date of Issuance which shall be (x) a Business Day and (y) at least 3 Business Days
from the date hereof (or such shorter period as may be acceptable to the respective Issuing
Lender in any given case).
	 
	4	 	Aggregate initial Stated Amount of Letter of Credit (in Dollars or an Alternative
Currency as specified in footnote 5) should not be less than (x) in the case of a Dollar
Denominated Letter of Credit, $250,000, (y) in the case of a Euro Denominated Letter of
Credit, €150,000 and (z) in the case of a Sterling Denominated Letter of Credit, £150,000
(or, in each case, such lesser amount as is acceptable to the respective Issuing Lender).
	 
	5	 	Insert applicable currency (i.e Dollars, Euros or Sterling).
	 
	6	 	Each requested Letter of Credit shall constitute either a U.S. Borrower Letter of
Credit or a Bermuda Borrower Letter of Credit.
	 
	7	 	Insert name and address of beneficiary.
	 
	8	 	Insert description of L/C Supportable Indebtedness (in the case of Standby Letters of
Credit) and insert description of permitted trade obligations (in the case of Trade Letters
of Credit).
	 
	9	 	Insert the last date upon which drafts may be presented which may not be later than
(i) in the case of Standby Letters of Credit, the earlier of (x) 12 months after the Date of
Issuance and (y) the fifth Business Day preceding the CL Maturity Date and (ii) in the case
of Trade Letters of Credit, the earlier of (x) 180 days after the Date of Issuance and (y) 30
days prior to the CL Maturity Date.

 

 

Exhibit C-l

Page 3

	 	(B)	 	no Default or Event of Default has occurred and is continuing
nor, after giving effect to the issuance of the Letter of Credit requested
hereby, would such a Default or Event of Default occur.

          Copies of all documentation with respect to the supported transaction are attached hereto.

	 	 	 	 	 
	 	[DOLE FOOD COMPANY, INC.]

[SOLVEST, LTD.]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT C-2

FORM OF BANK GUARANTY REQUEST

Dated         1        

Deutsche Bank AG New York Branch, [as
Bank Guaranty Issuer and] as
Administrative Agent and Deposit Bank
under the Credit Agreement, dated as of
March 28, 2003, amended and restated
as of April 18, 2005 and further
amended and restated as of April 12,
2006, among DHM Holding Company,
Inc., Dole Holding Company, LLC,
Dole Food Company, Inc., Solvest,
Ltd., the lenders from time to time party
thereto, Banc of America Securities
LLC, as Syndication Agent, The Bank
of Nova Scotia, as Documentation
Agent, and Deutsche Bank Securities
Inc., as Lead Arranger and Sole Book
Runner (as so amended and restated and
as the same may be further amended,
restated, modified and/or supplemented
from time to time, the “Credit
Agreement”, the terms defined therein
being used herein as therein defined).

60 Wall Street

New York, New York 10005

Attention: [                                         ]

[[                                        ,
as Bank Guaranty Issuer under the Credit
Agreement

                                        

                                        

                                        ]2

 

			
	1	 	Date of Bank Guaranty Request.
	 
	2	 	Insert name and address of Bank Guaranty Issuer in the case of a Bank Guaranty Request
to any Bank Guaranty Issuer other than Deutsche Bank AG New York Branch.

 

 

Exhibit C-2

Page 2

Dear Sirs:

          Pursuant to Section 2B.03 of the Credit Agreement, we hereby request that the Bank Guaranty
Issuer referred to above issue a Bank Guaranty for the account of the undersigned on
3 (the
“Date of Issuance”) in the aggregate Face Amount of
4. The requested Bank Guaranty shall be denominated in 5 and shall be a [U.S. Borrower]
[Bermuda Borrower]6 Bank Guaranty for all purposes of the Credit Agreement and the other
Credit Documents.

          For purposes of this Bank Guaranty Request, unless otherwise defined herein, all capitalized
terms used herein which are defined in the Credit Agreement shall have the respective meaning
provided therein.

          The
beneficiary of the requested Bank Guaranty will be 7, and such Bank Guaranty
will be in support of 8 and will have a stated expiration date of
9.

          We hereby certify that:

	 	(A)	 	the representations and warranties contained in the Credit
Agreement and in the other Credit Documents are and will be true and correct
in all material respects on the Date of Issuance, both before and after giving
effect to the issuance of the Bank Guaranty requested hereby, unless stated to
relate to a specific earlier date, in which case such representations and
warranties shall be true and correct in all material respects as of such
earlier date; and

 

			
	3	 	Date of Issuance which shall be (x) a Business Day and (y) at least 3 Business Days
from the date hereof (or such shorter period as may be acceptable to the respective Bank
Guaranty Issuer in any given case).
	 
	4	 	Aggregate initial Face Amount of Bank Guaranty (in Dollars or an Alternative Currency
as specified in footnote 5) should not be less than (x) in the case of a Dollar Denominated
Bank Guaranty, $250,000, (y) in the case of a Euro Denominated Bank Guaranty, €150,000 and
(z) in the case of a Sterling Denominated Bank Guaranty, £150,000 (or, in each case, such
lesser amount as is acceptable to the respective Bank Guaranty Issuer).
	 
	5	 	Insert applicable currency (i.e. Dollars, Euros or Sterling).
	 
	6	 	Each requested Bank Guaranty shall constitute either a U.S. Borrower Bank Guaranty
(if issued for the account of the U.S. Borrower) or a Bermuda Borrower Bank Guaranty (if
issued for the account of the Bermuda Borrower).
	 
	7	 	Insert name and address of beneficiary.
	 
	8	 	Insert a description of B/G Supportable Indebtedness.
	 
	9	 	Insert the last date upon which drafts may be presented which may not be later than,
the earlier of (x) 12 months after the Date of Issuance and (y) the fifth Business Day
preceding the CL Maturity Date.

 

 

Exhibit C-2

Page 3

	 	(B)	 	no Default or Event of Default has occurred and is continuing
nor, after giving effect to the issuance of the Bank Guaranty requested
hereby, would such a Default or Event of Default occur.

          Copies of all documentation with respect to the supported transaction are attached hereto.

	 	 	 	 	 
	 	[DOLE FOOD COMPANY, INC.]

[SOLVEST, LTD.]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT D

FORM OF SECTION 4.04(b)(ii) CERTIFICATE

          Reference is hereby made to the Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005 and further amended and restated as of April 12, 2006, among DHM
Holding Company, Inc., Dole Holding Company, LLC, Dole Food Company, Inc., Solvest, Ltd., the
lenders from time to time party thereto, Banc of America Securities LLC, as Syndication Agent, The
Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger and
Sole Book Runner, and Deutsche Bank AG New York Branch, as Administrative Agent and Deposit Bank
(as so amended and restated and as the same may be further amended, restated, modified and/or
supplemented from time to time, the “Credit Agreement”). Pursuant to the provisions of
Section 4.04(b)(ii) of the Credit Agreement, the undersigned hereby certifies that it is not a
“bank” as such term is used in Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as
amended.

	 	 	 	 	 
	 	[NAME OF LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Date:                                         ,           

 

 

EXHIBIT E-l

	 	 	 
	

	 	Paul, Hastings, Janofsky & Walker llp

75 East 55th Street § New York, NY 10022

telephone 212 318 6000 § facsimile 212 319 4090 § www.paulhastings.com

Atlanta

Beijing

Brussels

Hong Kong

London

Los Angeles

Milan

New York

Orange County

Palo Alto

Paris

San Diego

San Francisco

Shanghai

Stamford

Tokyo

Washington, DC

April 12, 2006

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below:

Ladies and Gentlemen:

We have acted as counsel to DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole
Holding Company, LLC, a Delaware limited liability company (“Intermediate Holdco”), and Dole Food
Company, Inc., a Delaware corporation (“Dole”) (collectively, the “Dole Parties”), in connection
with the Credit Agreement (the “Credit Agreement”), dated
as of March 28, 2003, as amended and
restated April 18, 2005, as further amended and restated April 12, 2006, among Holdings,
Intermediate Holdco, Dole, Solvest Ltd., a corporation organized under the laws of Bermuda
(“Solvest”), the Lenders from time to time party thereto, Deutsche Bank AG New York Branch, as
Administrative Agent (in such capacity, the “Administrative Agent”), and the other Agents a party
thereto. We have also served as counsel to the U.S. Subsidiary Guarantors organized under the laws
of the State of Delaware (collectively, the “Delaware Subsidiaries” and individually, a “Delaware
Subsidiary”) and the U.S. Subsidiary Guarantors organized under the laws of the State of California
(collectively, the “California Subsidiaries” and individually, a “California Subsidiary”) listed on
Schedule 1 hereto and the other entities listed on Schedule 2 hereto (together with the Delaware
Subsidiaries and the California Subsidiaries, the “Other Subsidiaries” and individually, each an
“Other Subsidiary”). The Dole Parties, the California Subsidiaries and the Delaware Subsidiaries
are referred to herein individually as a “Credit Party” and collectively as the “Credit Parties.”
This opinion is being delivered at the request of the Credit Parties and Other Subsidiaries,
pursuant to Section 5.03(i) of the Credit Agreement. Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to them in
the Credit Agreement.

As such counsel and for purposes of our opinions set forth below, we have examined originals or
copies, certified or otherwise identified to our satisfaction, of such documents, corporate
records, certificates of public officials and other instruments as we have deemed necessary or
appropriate as a basis for the opinions set forth herein, including, without limitation:

	 	(i)	 	the Credit Agreement;
	 
	 	(ii)	 	the Notes being executed and delivered on the date hereof;

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006

Page 2

	 	(iii)	 	the Amended and Restated U.S. Subsidiaries Guaranty;
	 
	 	(iv)	 	the Foreign Subsidiaries Guaranty;
	 
	 	(v)	 	the Foreign Subsidiaries Guaranty
Acknowledgement and Amendment;
	 
	 	(vi)	 	the Amended and Restated U.S. Security Agreement;
	 
	 	(vii)	 	the Amended and Restated U.S. Pledge Agreement;
	 
	 	(viii)	 	the Intercompany Subordination Agreement Acknowledgement and Amendment;
	 
	 	(ix)	 	the Intercompany Subordination Agreement;
	 
	 	(x)	 	the Amended and Restated Deeds of Trust with respect
to the properties identified on Schedule 3 hereto (the “Amended and
Restated Deeds of Trust”);
	 
	 	(xi)	 	the Intercreditor Agreement;
	 
	 	(xii)	 	the certificate of incorporation of Dole, certified
as of March 24, 2006 by the Secretary of State of Delaware, and the bylaws of
Dole as presently in effect as certified by the Vice President and Treasurer
of Dole as of the date hereof;
	 
	 	(xiii)	 	a certificate of the Secretary of State of the State of Delaware as to the
incorporation and good standing of Dole under the laws of the State of
Delaware as of March 24, 2006;
	 
	 	(xiv)	 	the certificate of incorporation of Holdings,
certified as of March 24, 2006 by the Secretary of State of Delaware, and the
bylaws of Holdings as presently in effect as certified by the Vice President
and Treasurer of Holdings as of the date hereof;
	 
	 	(xv)	 	a certificate of the Secretary of State of the State
of Delaware as to the incorporation and good standing of Holdings under the
laws of the State of Delaware as of March 24, 2006;

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 3

	 	(xvi)	 	the certificate of formation of Intermediate Holdco,
certified as of March 24, 2006 by the Secretary of State of Delaware, and the
limited liability company agreement of Intermediate Holdco as certified by
the Vice President and Treasurer of Dole as of the date hereof;
	 
	 	(xvii)	 	a certificate of the Secretary of State of the State of Delaware as to
the formation and good standing of Intermediate Holdco as of
March 24, 2006
under the laws of the State of Delaware;
	 
	 	(xviii)	 	the certificates of incorporation or certificate of formation, as the
case may be, of each Delaware Subsidiary, certified as of April 4, 2006 by
the Secretary of State of Delaware, and the bylaws or the operating
agreement, as the case may be, of each Delaware Subsidiary as presently in
effect as certified by the Vice President and Treasurer of the Delaware
Subsidiaries as of the date hereof;
	 
	 	(xix)	 	the certificates of incorporation or certificate of
formation, as the case may be, of each California Subsidiary, certified by a
corporate officer of Dole, and the bylaws or the operating agreement, as the
case may be, of each California Subsidiary as presently in effect as
certified by a Vice President of the California Subsidiaries as of the date
hereof;
	 
	 	(xx)	 	resolutions adopted by Dole’s board of directors and
certified by the Vice President and Treasurer of Dole relating to the
execution and delivery of, and the performance by Dole of its obligations
under, the Loan Documents, as defined below, to which it is a party;
	 
	 	(xxi)	 	resolutions adopted by the boards of directors of the
subsidiaries of Dole incorporated or formed in the States of Delaware, New
York or California, certified by a Vice President of such subsidiaries,
relating to the execution and delivery of, and the performance by such
subsidiaries of their respective obligations under the Loan Documents to
which it is a party;
	 
	 	(xxii)	 	resolutions adopted by the board of managers of Intermediate
Holdco, certified by a Vice President authorizing the execution and

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 4

	 	 	 	delivery of, and the performance by Intermediate Holdco of its obligations
under, the Loan Documents to which it is a party; and
	 
	 	(xxiii)	 	resolutions adopted by the board of directors of Holdings, certified by
the Vice President and Treasurer of Holdings, authorizing the execution and
delivery of, and the performance by Holdings of its obligations under, the
Loan Documents to which it is a party.

Items (i) through (xi) above are referred to herein, individually, as a “Loan Document” and,
collectively, as the “Loan Documents.” Items (xii), (xiv) and (xvi) above are referred to herein
collectively as the “Charter Documents.” Items (xiii), (xv) and (xvii) are referred to herein
collectively as the “Good Standing Certificates.” We are also aware that certain amended and
restated mortgages are being filed or recorded in Hawaii and Florida, but we have not reviewed such
documents (the “Other Mortgages”).

In addition to the foregoing, we have made such investigations of law as we have deemed relevant
and necessary as a basis for the opinions expressed below.

In such examination and in rendering the opinions expressed below, we have assumed: (i) the due
authorization, execution and delivery of each Loan Document, and each other document referred to
above, by all of the parties thereto (other than the due authorization, execution and delivery of
the Loan Documents by the Dole Parties and the Domestic Subsidiaries organized or incorporated
under the laws of California or Delaware); (ii) the genuineness of all signatures on all documents
submitted to us; (iii) the authenticity and completeness of all documents, corporate records,
certificates and other instruments submitted to us; (iv) that photocopy, electronic, certified,
conformed, facsimile and other copies submitted to us of original documents, corporate records,
certificates and other instruments conform to the original documents, records, certificates and
other instruments, and that all such original documents, corporate records, certificates and
instruments were authentic and complete; (v) the legal capacity of all individuals executing
documents; (vi) that the Loan Documents are the valid and binding obligations of each of the
parties thereto (other than the Credit Parties and the Other Subsidiaries under New York law),
enforceable against such parties (other than the Credit Parties and the Other Subsidiaries under
New York law) in accordance with their respective terms and that no such documents have been
amended or terminated orally or in writing except as disclosed to us; (vii) that the statements
contained in the certificates and comparable documents of public officials, officers and
representatives of the Credit Parties and other persons on which we have relied for the purposes of
this opinion (including, without limitation, the Good Standing Certificates) are true and correct
and that there has not been any change in the good standing status of the Dole Parties from that
reported in the Good Standing Certificates; (viii) that the Credit Parties other than the Dole
Parties are validly existing

 

 

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 5

entities in the jurisdictions of their respective organization, as certified by Dole pursuant to
the Credit Agreement; (ix) without limiting opinion 12, below, that the Administrative Agent and
Lenders have satisfied all regulatory and legal requirements applicable to their respective
activities; (x) that the rights and remedies set forth in the Loan Documents will be exercised
reasonably and in good faith and were granted without fraud or duress and for good, valuable and
adequate consideration and without intent to hinder, delay or defeat any rights of any creditors or
stockholders of the Credit Parties or Other Subsidiaries; (xi) that each Amended and Restated Deed
of Trust has been or will be duly recorded in the Official Records of the applicable location
identified on Schedule 3; and (xii) that the description of the real property subject to each
Amended and Restated Deed of Trust is sufficiently accurate under applicable law to provide notice
to third parties of the liens and security interests provided by the Amended and Restated Deeds of
Trust.

As to all questions of fact material to this opinion, we have relied (without independent
investigation, except as expressly indicated herein) entirely upon certificates or comparable
documents of officers and representatives of the Credit Parties and upon the representations and
warranties of the Credit Parties contained in the Loan Documents, including the Credit Agreement.
Copies of such certificates were delivered to you pursuant to the Credit Agreement or, to the
extent not so delivered are attached to this opinion as Annex II.

Statements in this opinion which are qualified by the expression “to our knowledge,” “of which we
have knowledge,” “known to us” or “we have no reason to believe” or other expressions of like
import are limited to the current actual knowledge of the individual attorneys in this Firm who
have devoted substantive attention to the representation of the Credit Parties and the Other
Subsidiaries in connection with the preparation, negotiation, execution and delivery of the Loan
Documents (but not the knowledge of any other attorney in this Firm or any constructive or imputed
knowledge of any information, whether by reason of our representation of the Credit Parties and the
Other Subsidiaries or otherwise). We have not undertaken any independent investigation to determine
the accuracy of any such statement, and any limited inquiry undertaken by us during the preparation
of this opinion should not be regarded as such an investigation.

Based upon the foregoing, and in reliance thereon, and subject to the limitations,
qualifications and exceptions set forth herein, we are of the following opinion:

          1. Each of Holdings and Dole is a validly existing corporation, and
Intermediate Holdco is a validly existing limited liability company, in good standing under the
laws of the State of Delaware; and each of Holdings and Dole has the corporate, and Intermediate
Holdco has the limited liability company, power and authority to enter into and perform its
obligations under the Loan Documents to which it is a party. Each of

 

 

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 6

Dole Carrot Company, Inc., Bud Antle, Inc., Lindero Headquarters Company, Inc., and Dole Fresh
Vegetables, Inc. is a corporation validly existing and in good standing under the laws of the State
of California and Dole Fresh Flowers, Inc., is a corporation validly existing and in good standing
under the laws of the State of Delaware. Each of such Other Subsidiaries has the corporate power
and authority to enter into and perform its obligations under the Other Mortgages to which it is a
party.

          2. Dole has the corporate power and authority to conduct its business as described in
its report on Form 10-K for the year ended January 3, 2005.

          3. The execution, delivery and performance of the Loan Documents or Other Mortgages to which
each Dole Party, Delaware Subsidiary and California Subsidiary is a party have been duly authorized
by all necessary corporate or limited liability company action, as the case may be, on the part of
such Dole Party, Delaware Subsidiary or California Subsidiary, as the case may be and each of the
Loan Documents to which such Dole Party, Delaware Subsidiary or California Subsidiary is a party
has been duly executed and delivered by each Dole Party, Delaware Subsidiary or California
Subsidiary.

          4. Each of the Loan Documents constitutes the valid and binding obligation of each Credit
Party and each Other Subsidiary which is a party thereto, enforceable against such Credit Party and
Other Subsidiary in accordance with its terms.

          5. The execution and delivery by each Credit Party and Other Subsidiary of the Loan Documents
or Other Mortgages to which it is a party and the performance by it of its obligations thereunder
do not (i) cause such Credit Party or Other Subsidiary to violate any Federal, California or New
York State law, rule or regulation, or (ii) cause such Credit Party or Other Subsidiary to violate
any order, judgment or decree of any Federal, California or New York state court or governmental
instrumentality to which such Credit Party or Other Subsidiary is a named party and which is
applicable to such Credit Party or Other Subsidiary and which is known to us, or (iii) constitute a
breach or default under any of the Indentures or other debt agreements listed on Annex II, or (iv)
with respect to the Dole Parties only, violate any provision of the Charter Documents of such Dole
Party.

          6. No consent, approval or authorization of, or filing with, any Federal, California or New
York State governmental body or authority is required to authorize, or is otherwise required in
connection with, the execution and delivery of the Loan Documents or Other Mortgages by the Credit
Parties or Other Subsidiaries which are parties thereto, or in connection with the performance by
the Credit Parties or Other

 

 

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 7

Subsidiaries of their obligations thereunder other than such filings or recordings as may be
necessary to perfect liens and to maintain good standing, existence, continued qualification to do
business, file tax returns and similar matters.

     7. To our knowledge, there is no action, suit or proceeding at law or in equity, or by or
before any Federal, California or New York state court, governmental or regulatory body or agency
or any arbitration board or panel, pending or overtly threatened against any Credit Party or Other
Subsidiary that questions the validity of the Loan Documents or Other Mortgages to which it is a
party.

     8. Assuming that immediately prior to the effectiveness of the Loan Documents the
Administrative Agent had a valid and perfected security interest in the rights of the Credit
Parties in the Article 9 Collateral pledged pursuant to the Amended and Restated U.S. Security
Agreement and the Amended and Restated U.S. Pledge Agreement, the effectiveness of the Loan
Documents does not adversely affect the perfection of such security interests. As used herein,
“Article 9 Collateral” shall mean the Collateral in which security interests can be created under
Article 9 of the Uniform Commercial Code as in effect in the State of New York (the “New York
UCC”).

     9. The making of the Loans and the Credit-Linked Deposits and the application of the
proceeds thereof as provided in the Credit Agreement does not violate Regulation T, U or X of the
Board of Governors of the Federal Reserve System.

     10. The subordination provisions contained in the Existing Senior Notes Documents are
enforceable against the respective Credit Parties party thereto and the holders of the Existing
Senior Notes.

     11. The Amended and Restated Deeds of Trust are in a form sufficient to create a lien on the
real property described therein, in favor of the trustee for the benefit of the Collateral Agent on
behalf of the Secured Creditors. The Amended and Restated Deeds of Trust (a) are in proper form for
recording in the Official Records of the locations indicated for each such Amended and Restated
Deed of Trust on Schedule 3, and (b) comply as to form with all statutory requirements for
recording in the Official Records of the locations indicated on Schedule 3. Except for customary
recording fees, no mortgage recording tax, intangible or documentary stamp tax, transfer tax or
similar charges will be required to be paid in connection with the execution, delivery, ownership
or recording of the Amended and Restated Deeds of Trust. There will not be an adverse effect on the
priority of any lien created by any of the Deeds of Trust recorded in California being amended and
restated by an Amended and Restated Deed of Trust because of any extension of credit or other
future advance contemplated by

 

 

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 8

the Loan Documents and made after the date the Amended and Restated Deeds of Trust are recorded.
Except for the recording of a Notice of Intent to Preserve Security Interest pursuant to Cal. Civil
Code Sections 880.310 et seq., it is not necessary to re-record any of the Amended and Restated
Deeds of Trust or to record, register or file any other or additional documents, instruments or
statements in order to maintain the liens in the real property created thereby.

          12. Assuming in each case that there are no other contacts with the State of California,
neither the Administrative Agent nor any Secured Creditor: (a) is required to (i) qualify to
transact business, (ii) file a designation for service of process, or (iii) file any reports, in
the State of California; or (b) will incur any tax imposed by the State of California, county or
municipality thereof (including without limitation, any tax imposed on interest or on revenue paid
in respect of the Obligations), in both cases, solely as the result of the transactions to which
this opinion letter refers, including, but not limited to, the exercise of remedies under any
Amended and Restated Deed of Trust.

The foregoing opinions are subject to the following exceptions, qualifications and limitations:

          A. We express no opinion with respect to any of the following (collectively, the
“Excluded Laws”): (i) anti-fraud laws or other federal and state securities laws; (ii)
except as set forth in opinion paragraph 9, Federal Reserve Board margin regulations; (iii) pension
and employee benefit laws, e.g., ERISA; (iv) federal and state antitrust and unfair competition
laws; (v) the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other
anti-trust laws and the Exon-Florio Act; (vi) the statutes, ordinances, administrative decisions
and rules and regulations of counties, towns, municipalities and other political subdivisions
(whether created or enabled through legislative action at the federal, state or regional level);
(vii) federal and state environmental laws; (viii) federal and state land use and subdivision laws;
(ix) except as stated in opinion 11 above, federal and state tax laws; (x) federal and state laws
relating to communications (including, without limitation, the Communications Act of 1934, as
amended, and the Telecommunications Act of 1996, as amended); (xi) federal patent, copyright and
trademark, state trademark and other federal and state intellectual property laws; (xii) federal
and state racketeering laws, e.g., RICO; (xiii) federal and state health care laws and
federal and state safety laws, e.g., OSHA; (xiv) federal and state laws concerning
aviation, vessels, railway or other transportation equipment or matters; (xv) federal and state
laws concerning public utilities; (xvi) federal and state labor laws; (xvii) federal and state laws
and policies concerning (A) national and local emergencies, (B) possible judicial deference to acts
of sovereign states including judicial acts, and (C) criminal and civil forfeiture laws; (xviii)
federal and state banking and insurance laws; (xix) export, import

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 9

and customs laws; (xx) the Anti-Terrorism Order, as amended, and all federal, state and local laws,
statutes, ordinances, orders, governmental rules, regulations, licensing requirements and policies
relating to the Anti-Terrorism Order (including without limitation the Executive Order of September
23, 2001 Blocking Property and Prohibiting Transactions with Persons Who Commit and Threaten to
Commit or Support Terrorism); (xxi) the USA Patriot Act of 2001 and the policies promulgated
thereunder and any foreign assets control regulations of the United States Treasury Department or
any enabling legislation or order relating thereto; and (xxii) other federal and state statutes of
general application to the extent they provide for criminal
prosecution (e.g., mail fraud
and wire fraud statutes); and in the case of each of the foregoing, all rules and regulations
promulgated thereunder or administrative or judicial decisions with respect thereto.

          B. We express no opinion with respect to (i) the truth of the factual representations and
warranties contained in the Loan Documents or (ii) any document or agreement other than the Loan
Documents regardless of whether such document or agreement is referred to in the Loan Documents.

          C. We express no opinion with respect to the effect which the introduction of extrinsic
evidence as to the meaning of any Loan Document may have on the enforceability thereof.

          D. We express no opinion as to the effect on our opinions regarding the Loan Documents arising
out of the status or activities of, or laws applicable to, the Administrative Agent, the
Documentation Agent, the Syndication Agent, the Lenders or any other party, if any, to the Loan
Documents (other than the Credit Parties), and, without limiting the foregoing, we are not
expressing any opinion as to the effect of compliance or non-compliance by such parties with any
state or federal laws or regulations applicable to the transactions contemplated by the Loan
Documents because of the nature of any of their businesses, except to the extent stated in opinion
12 above.

          E. With respect to our opinions set forth in opinion paragraph 1 above, with your permission,
we are relying solely and without independent investigation on our review and examination of (i)
with respect to valid existence and good standing of the Dole Parties, the Good Standing
Certificates, and (ii) with respect to entity power and authority of the Dole Parties, the Charter
Documents and applicable statutes governing the incorporation or formation of the Dole Parties any
documents certified to us thereby. With respect to the Other Subsidiaries referred to in the second
and third sentences of opinion paragraph 1, our opinion is based solely on a review of Certificates
and Articles of Incorporation certified by Dole and Good Standing Certificates of a recent date
which have been provided to you.

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 10

          F. Our opinions set forth in opinion paragraphs 4 and 10 above are subject to (i) the effect
of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting
creditors’ rights generally, including without limitation fraudulent transfer or fraudulent
conveyance laws; (ii) the effect of public policy considerations or court decisions which may limit
rights to obtain exculpation, indemnification or contribution (including, without limitation,
indemnification regarding violations of the securities laws and indemnification for losses
resulting from a judgment for the payment of any amount other than in United States dollars); (iii)
the effect of general principles of equity (including, without limitation, concepts of materiality,
reasonableness, good faith and fair dealing) and the availability of equitable remedies (including,
without limitation, specific performance and equitable relief), regardless of whether
enforceability is considered in a proceeding in equity or at law; and (iv) the effect of certain
laws and judicial decisions which may render unenforceable in whole or in part certain rights and
remedies provided in the Loan Documents (including any rights or remedies which conflict with, are
rendered ineffective by or are not permitted under Article 9 of the Uniform Commercial Code as in
effect in any applicable jurisdiction, or are in conflict with any other laws governing foreclosure
and disposition procedures or limitations on attorneys’ or trustee fees), but the inclusion of such
rights and remedies in the Loan Documents does not affect the validity of the Loan Documents, or
render the Loan Documents inadequate for the practical realization of the security interests and
liens afforded thereby, upon a material default by Dole or Solvest in the payment of principal or
interest as provided in the Credit Agreement or upon another material default by any Credit Party
or Other Subsidiary in the performance of any other material covenant in the Loan Documents.

          G. No opinion is expressed herein with respect to the validity, binding effect or
enforceability of (i) any provision contained in the Loan Documents allowing any party to exercise
any remedial rights without notice to any Credit Party or Other Subsidiary, (ii) any waiver of
demand by any Credit Party or Other Subsidiary, or any waiver of any rights or any defense which as
a matter of law or public policy cannot be waived, (iii) any provision contained in the Loan
Documents which conflicts with, is rendered ineffective by or is not permitted under Article 9 of
the Uniform Commercial Code as in effect in a relevant jurisdiction, (iv) any provisions contained
in the Loan Documents (A) purporting to establish evidentiary standards or (B) purporting to
preserve a debtor’s liability for any deficiency after the sale of or other exercise of remedies
with respect to any collateral to the extent such liability is limited by applicable law as a
result of such sale or other exercise of remedies not having been conducted in accordance with the
laws of the jurisdictions applicable thereto, (v) any provision of the Loan Documents which
purports to establish the subject matter jurisdiction of the United States District

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 11

Court to adjudicate any controversy related to any of the Loan Documents, (vi) any provision of the
Loan Documents which purports to entitle the Administrative Agent, the Lenders or any other person
or entity to specific performance of any provision thereof, (vii) any provision of the Loan
Documents which requires a person or entity to cause another person or entity to take or to refrain
from taking action under circumstances in which such person or entity does not control such other
person or entity, or (viii) any provision of the Loan Documents providing for the effectiveness of
service of process by mail in any suit, action or proceeding of any nature arising in connection
with or in any way relating to any Loan Document.

          H. No opinion is expressed herein with respect to the validity or enforceability of any
provision of the Loan Documents insofar as it purports to effect a choice of governing law or
choice of forum for the adjudication of disputes, other than (a) the enforceability by a New York
State court under New York General Obligations Law Section 5-1401 of the choice of New York State
law as the governing law of the Loan Documents (subject, however, to the extent limited by the
Constitution of the United States and by Section 1-105(2) of the New York Uniform Commercial Code),
and (b) the enforceability by a New York State court under New York General Obligations Law Section
5-1402 of New York State courts as a non-exclusive forum for the adjudication of disputes with
respect to the Loan Documents.

          I. Our opinions in clause (i) of opinion paragraph 5 above and in
opinion paragraph 6 above are limited solely to laws and regulations (other than the Excluded Laws)
which in our experience are generally applicable to transactions in the nature of those
contemplated by the Loan Documents between unregulated parties.

          J. With respect to our opinions set forth in opinion paragraph 5
above with respect to the Indentures, we have not reviewed, and express no opinion on, (i)
compliance with financial covenants or similar provisions to the extent the determination of
compliance with such covenants or provisions requires financial calculations or financial
determinations to ascertain whether there is any breach of or default under such covenants or
provisions, and in concluding such covenants or provisions are not violated we have relied on
calculations provided to us in an officer’s certificate or (ii) provisions relating to the
occurrence of a “material adverse effect” or words of similar import. In addition, our opinions
relating to the Indentures are subject to the effect on the Indentures of (i) the introduction of
extrinsic evidence to interpret the terms thereof and (ii) any non-written modifications thereof.

          K. Our opinions set forth in opinion paragraphs 8 and 11 above are subject to the
following additional qualifications:

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 12

          1.
We express no opinion with respect to (a) the right, title or interest of any Credit Party
in or to any property, (b) the creation or perfection of any of such security interests or liens,
(c) the priority of any security interests or liens, (d) the validity or perfection of the security
interests in any property or assets governed by the laws of any jurisdiction other than the State
of New York, Delaware or California or any law of any other state other than Article 9 and, to the
extent applicable, Article 8 of the Uniform Commercial Code as in effect in the States of New York,
Delaware or California (each such Uniform Commercial Code being referred to as a “Relevant UCC” and
each such State being referred to as a “Relevant Jurisdiction”), (e) the effect on the opinions
expressed in opinion paragraph 8 of any law other than the New York UCC or any other Relevant UCC,
or (f) under Article 9 of the New York UCC or any other Relevant UCC, what law governs the
perfection or the effect of perfection or non-perfection or the priority of the security interests
of the Collateral Agent in any particular item or items of the Collateral. In connection with the
qualification described in the preceding clause (d), we have expressly assumed, and our opinion is
subject to, the choice of New York law contained in the U.S. Security Agreement and the U.S. Pledge
Agreement being given legal effect under Section 5-1401 of the New York General Obligation Law.

          2. We have assumed that neither the Administrative Agent nor any of the Lenders has waived,
subordinated or agreed to any modification of the perfection of any of such security interests,
other than as provided in the Intercreditor Agreement.

          3. We have assumed that (a) each of the Credit Parties has rights in the Collateral or the
power to transfer rights in the Collateral (within the meaning of Section 9-203 of the New York UCC
and each other Relevant UCC) in which it has granted security interests pursuant to the U.S.
Security Agreement, and (b) value has been given (within the
meaning of Section 9-203 of the New
York UCC and each other Relevant UCC) for the grant of the security interests pursuant to the
Subsidiaries Assumption Agreements.

          4.
We have assumed that the transaction contemplated by the Loan Documents is not a consumer
transaction and none of the Collateral consists of or will consist of fixtures, consumer goods,
farm products or equipment used in farm products, commercial tort claims, timber to be cut, or as
extracted collateral, minerals or the like (including oil or gas) and to the extent any Collateral
is of such nature, we do not express an opinion.

          5. We express no opinion as to any part of the Collateral not subject to Article 9 or, to the
extent applicable, Article 8 of the New York UCC or another Relevant UCC.

 

 

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Credit Agreement referred to below

April 12, 2006
Page 13

          6. We express no opinion as to any interest in or claim in or under policies of insurance,
except as provided in Section 9-315 of the New York UCC or, if applicable, another Relevant UCC
with respect to insurance proceeds payable by reason of loss or damage to Collateral.

          7. In the case of property which becomes Collateral after the date hereof, Section 552 of the
United States Bankruptcy Code limits the extent to which property acquired by a debtor after the
commencement of a case under the United States Bankruptcy Code may be subject to a security
interest arising from a security agreement entered into by the debtor before the commencement of
such case.

          8. We call to your attention that, under the New York UCC and each other Relevant UCC, events
occurring subsequent to the date hereof or the passage of time may affect any security interest
subject to such UCC including, but not limited to, factors of the type identified in: Section 9-315
with respect to proceeds; Section 9-507 with respect to changes in name; Section 9-316 with respect
to changes in the location of the collateral and changes in the location of the debtor, in each
case, to the extent the same was relevant to the initial perfection of the applicable security
interest; Section 9-508 with respect to new debtors becoming bound as a debtor by a security
agreement entered into by another person or entity; Section 9-339 with respect to subordination
agreements; Section 9-515 with respect to continuation
statements; Sections 9-320, 9-321,
9-330, 9-331 and 9-332 with respect to subsequent purchasers or transferees of the collateral; and
Sections 9-335 and 9-336 with respect to goods which are, or may become, accessions or commingled
goods. In addition, actions taken by a secured party (e.g., releasing or assigning the
security interest, delivering possession of the collateral to a debtor or another person or
voluntarily subordinating a security interest) may affect any security interest subject to the New
York UCC or another Relevant UCC.

          L. We call to your attention that under the laws of the State of New York, the remedies
available in the State of New York for the enforcement of the Loan Agreement or the other Loan
Documents could be affected by any failure of any Lender not organized in New York (i) to become
authorized, under Article 13 of the New York Business Corporation Law, to do business in the New
York or (ii) to become authorized, under Article 5 of the New York Banking Law, to transact
business in New York as a foreign banking corporation. Further, no opinion is given herein as to
any other similar laws or requirements in any other jurisdiction.

          M. No opinion is expressed as to the validity, binding effect or enforceability of any
provision of any Loan Document that (i) requires that waivers or amendments must be in writing in
so far as it suggests that oral or other modifications,

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 14

amendments or waivers could not be effectively agreed upon by the parties or that the doctrine of
promissory estoppel might not apply; (ii) waives (a) vague or broadly stated rights, (b) future
rights, (c) the benefits of statutory, regulatory or constitutional rights, unless and to the
extent that the statute, regulation or constitution expressly allows waiver, (d) unknown future
defenses, (e) the right to trial by jury, or (f) rights to damages; (iii) states that rights or
remedies are not exclusive, that every right or remedy is cumulative and may be exercised in
addition to any other right or remedy, that the election of some particular remedy does not
preclude recourse to one or more others or that failure to exercise or delay in exercising rights
or remedies will not operate as a waiver of any such right or remedy; (iv) imposes penalties,
forfeitures, late payment charges or an increase in interest rate upon delinquency in payment or
the occurrence of a default; (v) appoints one party as an attorney-in-fact for an adverse party; or
(vi) states that time is of the essence.

          N. We have assumed that at least $2,500,000 will be advanced to the Borrowers, in one
or more installments, pursuant to the Loan Documents. No opinion is given herein with respect to
usury laws, or other laws regulating the maximum rate of interest which may be charged, taken or
received, of any jurisdiction other than New York, and, assuming each Lender is and will remain a
“bank” or other lender exempt from the usury laws of the State of California pursuant to Article
XV, Section 1 of the California Constitution, California.

          O. Section 1717 of the California Civil Code provides that, in any action on a contract
where the contract specifically provides that attorney’s fees and costs incurred to enforce that
contract shall be awarded either to one of the parties or to the prevailing party, then the party
that is determined to be the party prevailing in the action, whether that party is the party
specified in the contract or not, shall be entitled to reasonable attorneys’ fees in addition to
other costs.

          P. California statutes and case law provide that, in certain
circumstances, a surety may be exonerated if the creditor materially alters the original obligation
of the principal without the consent of the guarantor, elects remedies for default that impair the
subrogation rights of the guarantor against the principal, fails to inform the guarantor of
material information pertinent to the principal or any collateral, fails to proceed against the
principal or pursue remedies against the principal that the surety cannot pursue, or otherwise
takes any action without notifying the guarantor that materially prejudices the guarantor. There is
also authority, however, to the effect that a guarantor may validly waive those rights, if the
waivers are expressly set forth in the guaranty. We express no opinion with respect to the effect
of (i) any modification to or amendment of the obligations of the Credit Parties or Other
Subsidiaries after the

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 15

execution and delivery of the Loan Documents that materially increases those obligations; (ii) any
election of remedies by the Administrative Agent, Collateral Agent or any Lender following the
occurrence of an Event of Default; or (iii) any other action by the Administrative Agent,
Collateral Agent or any Lender that materially prejudices (to the extent that its obligations
constitute a guarantee of the obligations of another Credit Party or Other Subsidiary) any Credit
Party or Other Subsidiary, if, in any such instance, any such modification, election or action
occurs without notice to any such guarantor and without granting to any such guarantor an
opportunity to cure any default by the Credit Parties or Other Subsidiaries.

     Q. Under California law certain remedies, waivers and other provisions of the Amended
and Restated Deeds of Trust may not be enforceable; nevertheless, upon a material default by a
Borrower in the payment of principal or interest of the Loans or upon a material default by a
Borrower or a Subsidiary Guarantor in the performance of any other material covenant of the Amended
and Restated Deeds of Trust, or any other Loan Document to which they are a party, such
unenforceability will not preclude (i) the acceleration of the obligation of the Borrowers to repay
such principal and interest, (ii) enforcement in accordance with applicable law of the assignment
of rents set forth in the Amended and Restated Deeds of Trust, and (iii) the foreclosure in
accordance with applicable law of the security interest in the collateral created by the Amended
and Restated Deeds of Trust, and the Amended and Restated Deeds of Trust contains customary and
enforceable provisions such as to render the rights and remedies of the holder thereof adequate for
the practical realization against the real property encumbered by the Amended and Restated Deeds of
Trust of the benefits of the lien created thereby.

     R. We express no opinion as to the validity or enforceability under
California law of any provision of the Amended and Restated Deeds of Trust that: (i) requires a
borrower or a trustor to provide hazard insurance coverage against risks in an amount exceeding the
replacement value of any improvements to real property, (ii) imposes requirements respecting
impound accounts in conflict with applicable law, (iii) provides for the application of insurance
or condemnation proceeds to reduce indebtedness in the absence of a showing of damage to any
Lender, impairment of the value of the collateral, or impairment of the ability of the Borrowers to
pay (See, e.g., Schoolcraft v. Ross, 81 Cal. App. 3d 75 (1978); Milstein v. Security Pacific
National Bank, 27 Cal. App. 3d 482 (1972)); (iv) purports to make any assignment of rents, issues
and profits from the collateral enforceable without the lender taking steps to enforce in
accordance with California Civil Code Section 2938 or which purports to allow any Lender to collect
rents, issues and profits and not apply those collections to the

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below
April 12, 2006
Page 16

indebtedness secured by the Amended and Restated Deeds of Trust, (v) purports to prevent any party
from becoming a mortgagee in possession notwithstanding any enforcement actions taken under or in
connection with the Amended and Restated Deeds of Trust, (vi) contain a waiver of any party’s
statutory right to reinstate a secured obligation by paying the delinquent amounts of the fully
accelerated debt at any time prior to the time provided by statute, (vii) is in conflict with any
laws governing foreclosure and disposition procedures regarding any collateral or in conflict with
any limitations on attorneys’ fees or trustee’s fees, (viii) indemnifies any party against its own
gross negligence or willful misconduct, (ix) is in conflict with the real property antideficiency,
fair value and one form of action provisions of California law, (x) provides for the acceleration
of any indebtedness upon any transfer or further encumbrance of any of the collateral for any loan,
or upon a change of ownership of any entity which directly or indirectly owns any interest in any
such collateral, except to the extent that (A) such provisions are made enforceable pursuant to the
federal preemption afforded by the Garn-St. Germain Depository Institutions Act of 1982, as set
forth at 12 U.S.C. Section 1701j-3 and the regulations adopted pursuant thereto or (B) enforcement
is reasonably necessary to protect against impairment of the lender’s security or an increase in
the risk of default, (xi) select any jurisdiction’s laws to govern the Amended and Restated Deeds
of Trust, (xii) provides for penalties, liquidated damages, acceleration of future amounts due
(other than principal) without appropriate discount to present value, late charges, prepayment
charges and increased interest rates upon default, (xiii) provides that time is of the essence,
(xiv) provide for confession of judgment, (xv) contains a waiver of (A) broadly or vaguely stated
rights, (B) the benefits of statutory, regulatory or constitutional rights, unless and to the
extent the statute, regulation or constitution explicitly allows waiver, (C) unknown future
defenses, and (D) rights to damages, (xvi) attempts to change or waive rules of evidence or fix the
method or quantum of proof to be applied in litigation or similar proceedings, (xvii) selects the
forum for the resolution of any disputes or consents to the jurisdiction of any jurisdiction (both
as to personal jurisdiction and subject matter jurisdiction), (xviii) under the laws of the State
of California, any provision which purports to provide that the laws of any state other than the
State of California will govern the Amended and Restated Deeds of Trust, (xix) appoints one party
as an attorney-in-fact for an adverse party or (xix) provides for interest on interest.

          S. With respect to the qualifications set forth in Paragraph Q and
Paragraph R above, you should be aware of the following provisions of California law:

          1. Section 726 of the California Code of Civil Procedure provides
that any action to recover on a debt or other right secured by a mortgage or a deed of trust on
real property (including a ground lease interest in real property) must comply with

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 17

the requirements of that section, which requirements relate to and specify the procedures for the
sale of encumbered property, the application of proceeds, the rendition in certain cases of a
deficiency judgment and other related matters. We advise you that in such an action or proceeding,
the debtor may require the creditor to exhaust all of its security before a personal judgment may
be obtained against the debtor for a deficiency. We also advise you that failure to comply with the
provisions of Section 726 (including an attempt to exercise a right to set off with respect to any
funds that may be deposited with you from time to time and with respect to which you do not hold a
perfected security interest) may result in the loss of your lien on the real property collateral
and the loss of your right to a deficiency judgment. See, e.g., Walker v. Community Bank, 10 Cal.
3d 729, 518 P.2d 329, 111 Cal. Rptr. 897 (1974); Security Pacific National Bank v. Wozab, 51 Cal.
3d 991, 800 P.2d 557, 275 Cal. Rptr. 201 (1990). For example, in Security Pacific National Bank v.
Wozab, supra, the lender was held to have lost its lien on real property security by exercising a
right of setoff with respect to funds of the borrower deposited with the lender and as to which the
lender did not have a security interest. We further advise you that both the recovery of a judgment
in an action on a note and a creditor’s securing a pre-judgment writ of attachment on assets in
another jurisdiction have been held to release the mortgage lien on California realty. Ould v.
Stoddard, 54 Cal. 613 (1880); Shin v. Superior Court, 26 Cal. App. 4th 542 (1994).

          2. Section 580b of the California Code of Civil Procedure provides that no deficiency judgment
shall be rendered upon a purchase-money obligation in favor of the vendor arising form the sale of
real property where such purchase-money obligation is secured by a lien on the real property
purchased from the vendor, or in favor of a lender where the proceeds of the loan are used to
purchase a one-to-four family dwelling occupied entirely or in part as the principal residence of
the borrower and where such loan is secured by a lien on such dwelling.

          3. Section 580d of the California Code of Civil Procedure provides that no deficiency judgment
shall be rendered upon a note secured by a deed of trust or mortgage on real property after sale of
the real property under the power of sale contained in such deed of trust or mortgage.

          4. Section 2924c of the California Civil Code provides that whenever the maturity of an
obligation secured by a deed of trust or mortgage on real property (including a ground lease
interest in real property) is accelerated by reason of a default in the payment of interest or in
the payment of any installment of principal or other sums secured thereby, or by reason of failure
of the trustor or mortgagor to pay taxes, assessments or insurance premiums, the trustor or
mortgagor and certain other specified persons have the right, to be exercised at any time within
the reinstatement period

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 18

described in such section, to cure such default by paying the entire amount then due (including
certain reasonable costs and expenses incurred in enforcing such obligations but excluding any
principal amount that would not then be due had no default occurred) and thereby cure the default
and reinstate such deed of trust or mortgage and the obligations secured thereby to the same effect
as if no acceleration had occurred. If the power of sale in the deed of trust or mortgage is not to
be exercised, such reinstatement right may be exercised at any time prior to entry of the decree of
foreclosure.

          5. Section 726.5 of the California Code of Civil Procedure authorizes, under certain
circumstances, a real estate-secured commercial lender to waive its lien against a parcel of
“environmentally impaired” security (as therein defined) and sue the borrower without foreclosing
on the real property collateral for the loan.

          6. Section 736 of the California Code of Civil Procedure permits a lender, under certain
circumstances, to sue for breach of contract relating to any “environmental provisions” (as therein
defined) concerning real property security without foreclosing on the real property security or in
an action brought following foreclosure, whether judicial or non-judicial.

          7. Enforceability as it relates to personal property is subject to the effect of the
California UCC and the provisions of California law governing the creation, perfection (which is
also subject to the relevant provisions of the Delaware UCC) and enforcement of security interests
in personal property and Fixtures, including, but not limited to, the unenforceability, under
certain circumstances, of provisions permitting a secured party to determine the terms and manner
of the disposition of such collateral, where such terms and manner of disposition may not be
commercially reasonable.

          8. California Civil Code Section 2954.5 prescribes certain procedures that must be followed by
a lender in connection with the imposition of default, delinquency or late payment charges.

          T. Any provisions of the Amended and Restated Deeds of Trust or
any other documents related to the Loans which vary or purport to waive any of the rights or duties
set forth in Sections 9207(b)(4)(C), 9210, 9607, 9608(a), 9609, 9610(b), 9611, 9613 through 9616, and
9620 through 9626 of the California UCC or any other Relevant UCC, except to the extent any such
variances or waivers are expressly authorized by the California UCC or any other Relevant UCC, will
be unenforceable. Further, if any standards provided in the Amended and Restated Deeds of Trust by
which fulfillment of the rights and duties provided under the foregoing provisions are measured are
manifestly unreasonable, such standards will be unenforceable; provided, however, that no standards

 

 

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and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 19

provided by the Amended and Restated Deeds of Trust relating to the duty under Section 9609 to
refrain from the breaching the peace will, in any event, be enforceable.

          U. Enforcement of waivers of rights of subrogation and reimbursement and other rights
and defenses may be limited by applicable judicial decisions and the requirements of Civil Code
Section 2856. Subsection (b) of Civil Code Section 2856 states that “Any language that expressly
sets forth a waiver of suretyship rights or defenses described in subdivision (a) which includes
Civil Code Section 2787 to 2855 inclusive and Code of Civil Procedure Sections 580a, 580b, 580d and
726, or any of them, shall be effective whether or not it contains references to statutory
provisions or judicial decisions.” Section 2856 was enacted by the California legislature following
the decision of the Court of Appeal in Cathay Bank v. Lee, 14 Cal. App. 4th 1533 (1993), in which
the Court held that a waiver was not sufficiently explicit or specific where it did not specify the
legal significance of the waiver or cite the Code of Civil Procedure section creating the right
which was to be waived. However, Section 2 of Chapter 1204 of the Statutes of 1994, the statute
that adopted Section 2856 into the Civil Code, states “Subdivisions (a) and (b) of Section 2856 of
the Civil Code do not represent a change in, but are merely declarative of, existing law.” This
statement of legislative intent casts some doubt upon the extent to which the holding of Cathay
Bank has been superseded by Civil Code Section 2856.

Without limiting any of the other limitations, exceptions and qualifications stated elsewhere
herein (including, without limitation, qualification paragraph A with respect to Excluded Laws), we
express no opinion with regard to the applicability or effect of the law of any jurisdiction other
than (i) the internal laws of the State of New York, (ii) the internal laws of the State of
California, (iii) with respect to opinion paragraph 8 above, Article 9 of the Relevant UCCs, (iv)
to the extent set forth in opinion paragraphs 1, 2, 3 and 5(iv) above with respect to the Dole
Parties and the Delaware Subsidiaries, the Delaware General Corporation Law and the Delaware
Limited Liability Company Act (in each case based solely upon our review of a standard compilation
thereof), and (v) the federal laws of the United States. Although we are not admitted to practice
in any Relevant Jurisdiction other than the States of New York and California and have not obtained
opinions of counsel admitted in any such jurisdiction with respect to the continued perfection of
the security interests created by the U.S. Security Agreement in the Collateral covered thereby, we
have examined the applicable provisions of Article 9 of the Relevant UCCs as currently in effect in
such other Relevant Jurisdictions, in each case, as those provisions appear in standard
compilations thereof, and our opinions expressed in opinion paragraph 8 above, to the extent such
opinions involve conclusions as to perfection of such security interests under the laws of such
other Relevant Jurisdictions, are based solely upon such review.

 

 

To the Administrative Agent, the Collateral Agent 

and each of the Lenders party to the 

Credit Agreement referred to below

April 12, 2006
Page 20

This opinion letter deals only with the specified legal issues expressly addressed herein, and you
should not infer any opinion that is not explicitly addressed herein from any matter stated in this
letter.

This opinion is rendered solely to you in connection with the execution and delivery of the Loan
Documents. This opinion may not be relied upon by you for any other purpose or delivered to or
relied upon by any other Person (other than any Eligible Transferee who becomes a Lender after the
date hereof) without our express prior written consent (including, without limitation, (a) any
Person (other than any Eligible Transferee who becomes a Lender after the date hereof) that acquires
a loan under the Credit Agreement or any interest therein or in any other Loan Document from
Lenders or (b) any Person (other than any Eligible Transferee who becomes a Lender after the date
hereof) procured by the Administrative Agent or any Lender that acquires an interest in the Loan
Documents); except that you may furnish a copy of this opinion for information (but not reliance):
(i) to your independent auditors and your attorneys, (ii) pursuant to order or legal process of any
court or governmental agency, (iii) in connection with any legal action to which you are a party
arising out of the execution, delivery and performance of the Loan Documents and (iv) any Person
that acquires a loan by assignment pursuant to the terms of the Credit Agreement. This opinion is
rendered to you as of the date hereof and is not to be deemed to have been reissued by any
subsequent delivery as permitted above, and we assume no obligation to advise you or any other
Person hereafter with regard to any change after the date hereof in the circumstances or the law
that may bear on the matters set forth herein even though the change may affect the legal analysis
or a legal conclusion or other matters in this opinion letter.

Very truly yours,

 

 

 

Schedule 1

Delaware Subsidiaries and California Subsidiaries

	 	 	 
	Company	 	Jurisdiction of Organization
	AG 1970, Inc.

	 	California
	AG 1971, Inc.

	 	California
	AG 1972, Inc.

	 	California
	Alyssum Corporation

	 	California
	Barclay Hollander Corporation

	 	California
	Bud Antle, Inc.

	 	California
	Calicahomes, Inc.

	 	California
	California Polaris, Inc.

	 	California
	C.B. North, LLC

	 	California
	C.B. South, LLC

	 	California
	Dole ABPIK, Inc.

	 	California
	Dole Arizona Dried Fruit and Nut Company

	 	California
	Dole Carrot Company

	 	California
	Dole Citrus

	 	California
	Dole DF&N, Inc.

	 	California
	Dole Dried Fruit and Nut Company, a
California General Partnership

	 	California
	Dole Farming, Inc.

	 	California
	Dole Fresh Vegetables, Inc.

	 	California
	Dole Orland, Inc.

	 	California
	Dole Packaged Foods, LLC

	 	California
	E. T. Wall Company

	 	California
	Earlibest Orange Association, Inc.

	 	California
	Fallbrook Citrus Company, Inc.

	 	California
	Lindero Headquarters Company, Inc.

	 	California
	Lindero Property, Inc.

	 	California
	Milagro Ranch, LLC

	 	California
	Oceanview Produce Company

	 	California
	Prairie Vista, Inc.

	 	California
	Rancho Manana, LLC

	 	California
	Royal Packing Co.

	 	California
	Veltman Terminal Co.

	 	California
	Bananera Antillana (Colombia), Inc.

	 	Delaware
	Clovis Citrus Association

	 	Delaware
	Delphinium Corporation

	 	Delaware
	Dole Berry Company, LLC

	 	Delaware
	Dole Europe Company

	 	Delaware
	Dole Foods Flight Operations, Inc.

	 	Delaware

 

 

	 	 	 
	Company	 	Jurisdiction of Organization
	Dole Fresh Flowers, Inc.

	 	Delaware
	Dole Northwest, Inc.

	 	Delaware
	Dole Sunfresh Express, Inc.

	 	Delaware
	Standard Fruit and Steamship Company

	 	Delaware
	Standard Fruit Company

	 	Delaware
	Sun Country Produce, Inc.

	 	Delaware
	West Foods, Inc.

	 	Delaware

(ii)

 

Schedule 2

Other Subsidiaries

CALAZO CORPORATION

COOL ADVANTAGE, INC.

COOL CARE, INC.

FLOWERNET, INC.

SAW GRASS TRANSPORT, INC.

BLUE ANTHURIUM, INC.

CERULEAN, INC.

DOLE DIVERSIFIED, INC.

DOLE LAND COMPANY, INC.

DOLE PACKAGED FOODS CORPORATION

LA PETITIE D’AGEN, INC.

MK DEVELOPMENT, INC.

MALAGA COMPANY, INC.

MUSCAT, INC.

OAHU TRANSPORT COMPANY, LIMITED

WAHIAWA WATER COMPANY, INC.

ZANTE CURRANT, INC.

DIVERSIFIED IMPORTS CO.

DNW SERVICES COMPANY

DOLE ASSETS, INC.

DOLE FRESH FRUIT COMPANY

DOLE HOLDINGS, INC.

DOLE LOGISTICS SERVICES, INC.

DOLE OCEAN CARGO EXPRESS, INC.

DOLE OCEAN LINER EXPRESS, INC.

RENAISSANCE CAPITAL CORPORATION

SUN GIANT, INC.

DNW SERVICES COMPANY

PACIFIC COAST TRUCK COMPANY

PAN-ALASKA FISHERIES, INC.

AGOURA LIMITED

ASHFORD COMPANY, LTD.

CAMARILLO, LIMITED

DOLE ASIA, LTD.

DOLE INTERNATIONAL, LTD.

FLORAMERICA INVESTMENTS LTD.

MAHELE, LIMITED

MENDOCINO LIMITED

 

 

REEFERSHIP MARINE SERVICES, LTD

SOLAMERICA, LTD.

SOLVEST, LTD.

STANDARD FRUIT COMPANY (BERMUDA) LIMITED

VENTURA TRADING LTD.

QINGDAO DOLE FOOD CO., LTD.

SHANGHAI DOLE FOOD CO., LTD.

ALMACENES ATALANTA S.A.

DOLE SHARED SERVICES LIMITADA

CASTLE & COOKE WORLDWIDE LIMITED

DOLE CHINA LIMITED

DOLE HONG KONG LIMITED

DOLE ITALIA S.P.A.

FRATELLIISELLA S.R.L.

TROPICAL SHIPPING ITALIANAS.P.A.

DOLE JAPAN, LTD. (KK)

DFC FOODS, INC.

DOLE KOREA, LTD.

DOLE FRESH FRUIT INTERNATIONAL LIMITED

DOLE SHANGHAI CO., LIMITED

DOLE PHILIPPINES, INC.

MIRADERO FISHING CO., INC.

DOLE THAILAND, LTD

THAI AMERICAN FOOD CO., LTD.

(4)

 

Schedule 3

Amended and Restated Deeds of Trust

Molera Ranch (Monterey County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Bud Antle, Inc., a California corporation, as the
Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the Trustee, for the benefit
of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured Creditors described
therein as beneficiary

Salinas Central OP I (Monterey County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Bud Antle, Inc., a California corporation, as the
Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the Trustee, for the benefit
of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured Creditors described
therein as beneficiary

Huron Cooler (Fresno County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Bud Antle, Inc., a California corporation, as the
Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the Trustee, for the benefit
of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured Creditors described
therein as beneficiary

Livingston Ranch (Ventura County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Bud Antle, Inc., a California corporation, as the
Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the Trustee, for the benefit
of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured Creditors described
therein as beneficiary

Gonzalez Packing Shed (Monterey County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Dole Carrot Company, a California corporation, as
the Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the Trustee, for the
benefit of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured Creditors
described therein as beneficiary

(5)

 

Lindero
Headquarters Company, Inc. (Los Angeles County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Lindero Headquarters Company, Inc., a California
corporation, as the Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the
Trustee, for the benefit of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured
Creditors described therein as beneficiary

Salinas Central OP II (Monterey County)

Amended and Restated Deed of Trust, Security Agreement, Assignment of Leases, Rents and Profits,
Financing Statement and Fixture Filing made by Dole Fresh Vegetables, Inc., a California
corporation, as the Trustor, to Chicago Title Insurance Company, a Missouri corporation, as the
Trustee, for the benefit of Deutsche Bank AG New York Branch, as Collateral Agent for the Secured
Creditors described therein as beneficiary

(6)

 

Annex I — Officer’s Opinion Certificate

(7)

 

Annex II — Indentures and Other Debt Documents

Indenture, dated as of July 15, 1993, by and between Dole Food Company, Inc. and Wells Fargo
Bank, National Association, as trustee (the “1993 Indenture”).

First
Supplemental Indenture, dated as of April 30, 2002, by and between Dole Food Company, Inc. and
J.P. Morgan Trust Company, National Association, as trustee, as amended through the date hereof,
which supplements the 1993 Indenture.

Second
Supplemental Indenture, dated as of March 28, 2003, by and between Dole Food Company,
Inc. and Wells Fargo Bank, National Association, as trustee, as amended through the date
hereof, which supplements the 1993 Indenture.

Indenture,
dated as of March 28, 2003, by and among Dole Food Company, Inc., any U.S. Subsidiary
Guarantors from time to time party thereto and Wells Fargo Bank, National Association, as trustee.

Indenture,
dated as of May 29, 2003, by and among Dole Food Company, Inc., any U.S. Subsidiary
Guarantors from time to time party thereto and Wells Fargo Bank, National Association, as trustee.

Credit Agreement dated as of March 3, 2006 among Dole Holding Company, Inc. the lenders party
thereto, Deutsche Bank Trust Company Americas, as Administrators Agent, and Deutsche Bank
Securities, Inc.

Second lien Senior Credit Agreement dated as of July 22, 2004 among Dole Company, Inc., Dole
Holding Company, LLC, the Lenders party thereto, Deutsche Bank AG New York Branch, as Agent, and
Deutsche Bank Securities, Inc. as Arranger.

Credit
Agreement dated as of April 12, 2005 among DHM Holding Company, Inc., Dole Holding Company,
LLC, Dole Food Company, Inc., Deutsche Bank AG, New York Branch, as Administrative Agent and the
Lenders party thereto.

(8)

 

EXHIBIT E-2

	 	 	 	 	 
		 	To those parties listed in the Second Schedule
	 	e-mail:

erobinson@applebyglobal.com

direct dial:

Tel 441 298 3268

	 	 	 
	 	Fax 441 298 3374

your ref:

	 	 	 
	 	appleby ref:
	 	 	 
	 	ER/cjm/6468.9

	 	 	 
	 	12 April 2006

	 	 	 
	 
	 	Dear Sirs

	Bermuda Office

	 	Solvest, Ltd. (the “Company”)
	 
	 	 
	Canon’s Court
 22
Victoria Street
PO
Box HM 1179

Hamilton HM EX

Bermuda

Tel 441 295 2244

Fax 441 292 8666

applebyglobal.com
	 	We have acted as special legal counsel in Bermuda to the Company in respect of the
Company’s obligations pursuant to the terms of the Amended and Restated Credit
Agreement dated 12 April 2006 (the “Credit Agreement”) between DHM Holding Company,
Inc., Dole Holding Company, LLC, Dole Food Company, Inc. and the Company
(collectively the “Loan Parties”) and Deutsche Bank AG New York Branch, The Bank of
Nova Scotia, Bane of America Securities LLC and the other lenders who are a party
named therein (collectively the “Lenders”), pursuant to which the Lenders will
provide the Loan Parties with Tranche B Term Loans, Tranche C Term Loans, Letters of
Credit, Bank Guarantees and Incremental Term Loans. We have been requested to
provide this opinion in connection with the following documents:
	 
	 	        (i)         Credit Agreement; and

	 
	 	        (ii)         Intercompany Subordination Acknowledgment and Amendment.

	 
	 	        (hereinafter collectively referred to as the “Subject Documents”)

	Bermuda

British
Virgin Islands

Cayman Islands

Hong
Kong
 London
	 	For the purposes of this opinion we have examined and relied upon the documents
listed, and in some cases defined, in the First Schedule to
this opinion (the

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 
	 	 	“Documents”). Unless otherwise defined herein, capitalised
terms have the meanings assigned to them in the Credit
Agreement.
	 
	 	 	 	 
	 	 	Assumptions
	 
	 	 	 	 
	 	 	In stating our opinion we have assumed:
	 
	 	 	 	 
	 

	 	(a)
	 	the authenticity, accuracy and completeness of all
Documents examined by us submitted to us as originals and the
conformity to authentic original documents of all Documents
submitted to us as certified, conformed, notarised, faxed or
photostatic copies;
	 
	 	 	 	 
	 

	 	(b)
	 	that each of the Documents which was received by
electronic means is complete, intact and in conformity with
the transmission as sent;
	 
	 	 	 	 
	 

	 	(c)
	 	the genuineness of all signatures on the Documents;
	 
	 	 	 	 
	 

	 	(d)
	 	the authority, capacity and power of each of the
persons signing the Documents (other than the Company in respect
of the Subject Documents);
	 
	 	 	 	 
	 

	 	(e)
	 	that any representation, warranty or statement of
fact or law, other than as to the laws of Bermuda, made in any
of the Documents is true, accurate and complete;
	 
	 	 	 	 
	 

	 	(f)
	 	that the Subject Documents constitute the legal,
valid and binding obligations of each of the parties thereto,
other than the Company, under the laws of its jurisdiction of
incorporation or its jurisdiction of formation;
	 
	 	 	 	 
	
 

Bermuda

British
Virgin Islands

Cayman Islands

Hong Kong

London

	 	(g)
	 	that the Subject Documents have been
validly
authorised,
executed and delivered by each of the parties
thereto, other than the Company, and the performance thereof is
within the capacity and powers of each such party thereto (other
than the Company), and that each such party to which the Company
purportedly delivered the Subject Documents has actually
received and accepted delivery of such Subject Documents;

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	(h	)	 	that the Subject
Documents will effect, and will
constitute legal, valid and binding
obligations of each of the parties
thereto, enforceable in accordance
with their terms, under the laws of
the State of New York by which they
are expressed to be governed;
	 
	 	 	 	 	 	 
	 

	 	 	(i	)	 	that the Subject
Documents are in the proper legal
form to be admissible in evidence
and enforced in the courts of
the State of New York and in
accordance with the laws of the
State of New York;
	 
	 	 	 	 	 	 
	 

	 	 	(j	)	 	that there are no
provisions of the laws or
regulations of any jurisdiction
other than Bermuda which would be
contravened by the execution or
delivery of the Subject Documents or
which would have any implication in
relation to the opinion expressed
herein and that, in so far as any
obligation under, or action to be
taken under, the Subject Documents
is required to be performed or taken
in any jurisdiction outside Bermuda,
the performance of such obligation
or the taking of such action will
constitute a valid and binding
obligation of each of the parties
thereto under the laws of that
jurisdiction and will not be illegal
by virtue of the laws of that
jurisdiction;
	 
	 	 	 	 	 	 
	 

	 	 	(k	)	 	that the records which
were the subject of the Company
Search were complete and accurate at
the time of such search and
disclosed all information which is
material for the purposes of this
opinion and such information has not
since the date of the Company Search
been materially altered;
	 
	 	 	 	 	 	 
	 

	 	 	(1	)	 	that the records which
were the subject of the Litigation
Search were complete and accurate at
the time of such search and
disclosed all information which is
material for the purposes of this
opinion and such information has not
since the date of the Litigation
Search been materially altered;
	 
	 	 	 	 	 	 
	
Bermuda
 British Virgin
Islands

Cayman Islands

Hong Kong 
London

	 	 	(m	)	 	that the
Resolutions are
in full
force and effect, have not
been rescinded, either in whole or
in part, and accurately record the
resolutions passed by the Board of
Directors or the Shareholders, as
the case may be, in respect of the
Company in meetings which were duly
convened and at which a duly
constituted

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	quorum was present and voting
throughout and that there is no
matter affecting the authority of
the Directors to effect entry by the
Company into the Subject Documents,
not disclosed by the Constitutional
Documents or the Resolutions, which
would have any adverse implication
in relation to the opinions
expressed herein;
	 
	 	 	 	 	 	 
	 

	 	 	(n	)	 	that the Lenders
have no express or
constructive knowledge of any
circumstance whereby any Director of
the Company, when the Board of
Directors of the Company passed
the Resolutions, failed to
discharge his fiduciary duty owed to
the Company and to act honestly and
in good faith with a view to the
best interests of the Company;
	 
	 	 	 	 	 	 
	 

	 	 	(o	)	 	that the Company has
entered into its obligations under
the Subject Documents in good faith
for the purpose of carrying on its
business and that, at the time it
did so, there were reasonable
grounds for believing that the
transactions contemplated by the
Subject Documents would
commercially benefit the Company;
and
	 
	 	 	 	 	 	 
	 

	 	 	(p	)	 	that each transaction to
be entered into pursuant to the
Subject Documents is entered into in
good faith and for full value and
will not have the effect of
preferring one creditor over
another.
	 
	 	 	 	 	 	 
	 	 	 	Opinion
	 
	 	 	 	 	 	 
	 	 	 	Based upon and subject to the
foregoing and subject to the
reservations set out below and to
any matters not disclosed to us, we
are of the opinion that:
	 
	 	 	 	 	 	 
	 

	 	 	(1	)	 	The Company is an
exempted company incorporated with
limited liability and existing under
the laws of Bermuda. The Company
possesses the capacity to sue and be
sued in its own name and is in good
standing under the laws of Bermuda.
	 
	 	 	 	 	 	 
	
Bermuda 
British
Virgin Islands 

Cayman Islands
 Hong Kong 

London

	 	 	(2	)	 	The Company has all requisite
corporate power and
authority to enter into, execute,
deliver, and perform its obligations
under the Subject Documents and to
take all action as may be necessary
to complete the transactions
contemplated thereby.

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	The execution, delivery and performance by the Company of the
Subject Documents and the transactions contemplated thereby have
been duly authorised by all necessary corporate action on the part of the
Company.
	 
	 	 	 	 	 	 
	 

	 	 	(4	)	 	The Subject Documents have been duly executed by the Company and
each constitutes legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms.
	 
	 	 	 	 	 	 
	 

	 	 	(5	)	 	No consent, licence or authorisation of, filing with, or other act
by or in respect of, any governmental authority or court of Bermuda is
required to be obtained by the Company in connection with the execution,
delivery or performance by the Company of the Subject Documents or to ensure
the legality, validity, admissibility into evidence or enforceability as to
the Company, of the Subject Documents.
	 
	 	 	 	 	 	 
	 

	 	 	(6	)	 	The execution, delivery and performance by the Company of the
Subject Documents and the transactions contemplated thereby do not and will
not violate, conflict with or constitute a default under (i) any requirement
of any law or any regulation of Bermuda or (ii) the Constitutional Documents,
	 
	 	 	 	 	 	 
	 

	 	 	(7	)	 	The transactions contemplated by the Subject Documents are not
subject to any currency deposit or reserve requirements in Bermuda. The
Company has been designated as “non-resident” for the purposes of the Exchange
Control Act 1972 and regulations made thereunder and there is
no restriction or requirement of Bermuda binding on the Company which
limits the availability or transfer of foreign exchange (i.e. monies
denominated in currencies other than Bermuda dollars) for the purposes of the
performance by the Company of its obligations under the Subject Documents.
	 
	 	 	 	 	 	 
	
 Bermuda

British Virgin Islands

Cayman Islands
 Hong Kong

London

	 	 	(8	)	 	The financial obligations of the Company under the Subject Documents rank at
least pari passu in priority of payment with all other unsecured and
unsubordinated indebtedness (whether actual or contingent) issued, created or

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	assumed by the Company other than
indebtedness which is preferred by
virtue of any provision of Bermuda
law of general application.
	 
	 	 	 	 	 	 
	 

	 	 	(9	)	 	The choice of the laws of
the State of New York as the proper
law to govern the Subject Documents
is a valid choice of law under
Bermuda law and such choice of law
would be recognised, upheld and
applied by the courts of Bermuda as
the proper law of the Subject
Documents in proceedings brought
before them in relation to the
Subject Documents, provided that (i)
the point is specifically pleaded;
(ii) such choice of law is valid and
binding under the laws of the State
of New York; and (iii) recognition
would not be contrary to public
policy as that term is understood
under Bermuda law.
	 
	 	 	 	 	 	 
	 

	 	 	(10	)	 	The submission by the
Company to the jurisdiction of the
courts of the State of New York
pursuant to the Subject Documents is
not contrary to Bermuda law and
would be recognised by the courts of
Bermuda as a legal, valid and
binding submission to the
jurisdiction of the courts of the
State of New York, if such
submission is accepted by such
courts and is legal, valid and
binding under the laws of the State
of New York.
	 
	 	 	 	 	 	 
	 

	 	 	(11	)	 	A final and conclusive
judgment of a competent foreign
court against the Company based upon
the Subject Documents (other than a
court of jurisdiction to which The
Judgments (Reciprocal Enforcement)
Act, 1958 applies, and it does not
apply to the courts of the State of
New York) under which a sum of money
is payable (not being a sum payable
in respect of taxes or other charges
of a like nature, in respect of a
fine or other penalty, or in respect
of multiple damages as defined in
The Protection of Trading Interests
Act 1981) may be the subject of
enforcement proceedings in the
Supreme Court of Bermuda under the
common law doctrine of obligation by
action on the debt evidenced by the
judgment of such competent foreign
court. A final opinion as to the
availability of this remedy should
be sought when the facts surrounding
the foreign court’s judgment are
known, but, on general principles,
we would expect such proceedings to
be successful provided that:
	 
	 	 	 	 	 	 
	Bermuda 
British Virgin
Islands

Cayman Islands
 Hong Kong 

London
	 	 	 	 	 	 

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(i)
	 	 the court which gave the judgment was competent to hear the
action in accordance with private international law principles as
applied in Bermuda; and
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(ii)
	 	 the judgment is not contrary to public policy in Bermuda, has
not been obtained by fraud or in proceedings contrary to natural justice
and is not based on an error in Bermuda law.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Enforcement of such a judgment against assets in Bermuda may involve the
conversion of the judgment debt into Bermuda dollars, but the Bermuda
Monetary Authority has indicated that its present policy is to give the
consents necessary to enable recovery in the currency of the obligation.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	No stamp duty or similar or other tax or duty is payable in Bermuda on the
enforcement of a foreign judgment. Court fees will be payable in
connection with proceedings for enforcement.
	 
	 	 	 	 	 	 	 	 
	 	 	 	(12	)	 	According to the records maintained in the Register of Companies
at the office of the Registrar of Companies as revealed by the Company
Search the current address of the registered office of the Company is
Canon’s Court, 22 Victoria Street, Hamilton HM EX, Bermuda.
	 
	 	 	 	 	 	 	 	 
	 	 	 	(13	)	 	Neither the Company nor any of its assets or property enjoy,
under Bermuda law, immunity on the grounds of sovereignty from
any legal or other proceedings whatsoever or from enforcement, execution
or attachment in respect of their respective obligations under the Subject
Documents.
	 
	 	 	 	 	 	 	 	 
	 	 	 	(14	)	 	Based solely upon the Company Search and the Litigation Search:
	 
	 	 	 	 	 	 	 	 
	
Bermuda

British
Virgin Islands

Cayman Islands

Hong Kong
 London

	 	 	 	 	 	(i)
	 	no litigation, arbitration or administrative or other
proceeding of or before any arbitrator or governmental authority of Bermuda
is pending against or affecting the Company or against or affecting any of
its properties, rights, revenues or assets; and

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(ii)
	 	 no notice to the
Registrar of Companies of the
passing of a resolution of members
or creditors to wind up or the
appointment of a liquidator or
receiver has been given in respect
of the Company. No petition to
wind up the Company or application
to reorganise its affairs pursuant
to a Scheme of Arrangement or
application for the appointment of a
receiver has been filed with the
Supreme Court.
	 
	 	 	 	 	 	 	 	 
	 	 	 	(15	)	 	 The Company has received
an assurance from the Ministry of
Finance granting an exemption, until
28 March 2016, from the imposition
of tax under any applicable Bermuda
law computed on profits or income or
computed on any capital asset, gain
or appreciation, or any tax in the
nature of estate duty or inheritance
tax, provided that such exemption
shall not prevent the application of
any such tax or duty to such persons
as are ordinarily resident in
Bermuda and shall not prevent the
application of any tax payable in
accordance with the provisions of
the Land Tax Act 1967 or otherwise
payable in relation to land in
Bermuda leased to the Company.
There are, subject as otherwise
provided in this opinion, no Bermuda
taxes, stamp or documentary taxes,
duties or similar charges now due,
or which could in the future become
due, in connection with the
execution, delivery, performance
or enforcement of the Subject
Documents or the transactions
contemplated thereby, or in
connection with the admissibility in
evidence thereof and the Company is
not required by any Bermuda law or
regulation to make any
deductions or withholdings in
Bermuda from any payment it may make
thereunder.
	 
	 	 	 	 	 	 	 	 
	

Bermuda

 British Virgin Islands

Cayman Islands
 Hong Kong

London	 	 	(16	)	 	Charges over the assets of
Bermuda companies (other than real
property in Bermuda or a ship or
aircraft registered in Bermuda)
wherever situated, and charges on
assets situated in Bermuda (other
than real property in Bermuda or a
ship or aircraft registered in
Bermuda) which are granted by or to
companies incorporated outside
Bermuda, are capable of being
registered in Bermuda in the office
of the Registrar of Companies
pursuant to the provisions of Part V
of the Companies Act 1981 (the
“Act”). Registration under the Act
is the only method of registration
of charges over the assets of
Bermuda companies in Bermuda except
charges over real property in
Bermuda or ships or aircraft

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	registered in Bermuda. Registration under
the Act is not compulsory and does not affect
the validity or enforceability of a charge
and there is no time limit within which
registration of a charge must be effected.
However, in the event that questions of
priority fall to be determined by reference
to Bermuda law, any charge registered
pursuant to the Act will take priority over
any other charge which is registered
subsequently in regard to the same assets,
and over all other charges created over
such assets after 1 July, 1983, which are
not registered.
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Based solely upon the Company Search, the
following charge is registered in Bermuda
over assets of the Company and, according to
the Company Search, such charge has not been
satisfied in whole or in part:
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Charge Number 14745
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	A charge against the Company by virtue of a
Bermuda Charge Agreement dated 28 March 2003
between the Company certain subsidiaries of
the Company and Deutsche Bank AG New York
Branch as Collateral Agent over the
Collateral as that term is therein defined.
	 
	 	 	 	 	 	 
	 

	 	 	(17	)	 	The terms of the Subject Documents
entered into by each of the Foreign
Subsidiary Guarantors listed in Schedule XII
to the Credit Agreement will not adversely
affect the continued validity or priority of
the charges listed in Schedule XII to the
Credit Agreement, granted by the Foreign
Subsidiary Guarantors, assuming such charges
were validly registered.
	 
	 	 	 	 	 	 
	 	 	 	Reservations
	 
	 	 	 	 	 	 
	 	 	 	We have the following reservations:
	 
	 	 	 	 	 	 
	 

	 	 	(a	)	 	The term “enforceable” as used in
this opinion means that there is a way of
ensuring that each party performs an
agreement or that there are remedies
available for breach.
	 
	 	 	 	 	 	 
	Bermuda 

British Virgin Islands
 Cayman Islands

Hong Kong 
London

	 	 	(b	)	 	We express no opinion as to the availability
of equitable remedies such as
specific performance or injunctive relief, or
as to any matters which are within

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 
	 

	 	 	 	the discretion of the courts of
Bermuda in respect of any
obligations of the Company as set
out in the Subject Documents. In
particular, we express no opinion as
to the enforceability of any present
or future waiver of any provision of
law (whether substantive or
procedural) or of any right or
remedy which might otherwise be
available presently or in the future
under the Subject Documents.
	 
	 	 	 	 
	 

	 	(c)
	 	Enforcement of the
obligations of the Company under the
Subject Documents may be limited or
affected by applicable laws from
time to time in effect relating to
bankruptcy, insolvency or
liquidation or any other laws or
other legal procedures affecting
generally the enforcement of
creditors’ rights.
	 
	 	 	 	 
	 

	 	(d)
	 	Enforcement of the
obligations of the Company may be
the subject of a statutory
limitation of the time within which
such proceedings may be brought.
	 
	 	 	 	 
	 

	 	(e)
	 	Any agreement that the
Company will not exercise its
statutory powers may constitute an
unlawful fetter on the statutory
powers of the Company. These
powers are powers which are reserved
for exercise by the Shareholders of
a Company.
	 
	 	 	 	 
	 

	 	(f)
	 	We express no opinion as
to any law other than Bermuda law
and none of the opinions expressed
herein relates to compliance with or
matters governed by the laws of any
jurisdiction except Bermuda. This
opinion is limited to Bermuda law as
applied by the Courts of Bermuda at
the date hereof.
	 
	 	 	 	 
	 

	 	(g)
	 	Where an obligation is to
be performed in a jurisdiction other
than Bermuda, the courts of Bermuda
may refuse to enforce it to the
extent that such performance would
be illegal under the laws of, or
contrary to public policy of, such
other jurisdiction.
	 
	 	 	 	 
	Bermuda
 British Virgin
Islands 

Cayman Islands 
Hong Kong

London

	 	(h)
	 	We express no opinion as to
the validity, binding effect or
enforceability of any provision
incorporated into any of the Subject
Documents by reference to a law

 

 

			
	 	 	 
	 
	 	To those parties listed in the Second Schedule
	
	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	other than that of Bermuda, or as to the availability in Bermuda of remedies which are
available in other jurisdictions.
	 
	 	 	 	 	 	 
	 

	 	 	(i	)	 	Where a person is vested with a discretion or may determine a matter in his or its opinion,
such discretion may have to be exercised reasonably or such an opinion may have to be based
on reasonable grounds.
	 
	 	 	 	 	 	 
	 

	 	 	(j	)	 	Any provision in the Subject Documents that certain calculations or certificates will be
conclusive and binding will not be effective if such calculations or certificates are
fraudulent or erroneous on their face and will not necessarily prevent juridical enquiries
into the merits of any claim by an aggrieved party.
	 
	 	 	 	 	 	 
	 

	 	 	(k	)	 	We express no opinion as to the validity or binding effect of any provision in the Subject
Documents for the payment of interest at a higher rate on overdue amounts than on amounts
which are current, or that liquidated damages are or may be payable. Such a provision may not
be enforceable if it could be established that the amount expressed as being payable was in
the nature of a penalty; that is to say a requirement for a stipulated sum to be paid
irrespective of, or necessarily greater than, the loss likely to be sustained. If it cannot
be demonstrated to the Bermuda court that the higher payment was a reasonable pre-estimate of
the loss suffered, the court will determine and award what it considers to be reasonable
damages. Section 9 of The Interest and Credit Charges (Regulations) Act 1975 provides that
the Bermuda courts have discretion as to the amount of interest, if any, payable on the
amount of a judgment after date of judgment. If the Court does not exercise that discretion,
then interest will accrue at the statutory rate which is currently 7% per annum.
	 
	 	 	 	 	 	 
	 

	 	 	(1	)	 	We express no opinion as to the validity or binding effect of any provision of the Subject
Documents which provides for the severance of illegal, invalid or unenforceable provisions.

	 	 	 	 	 
	Bermuda
 British Virgin
Islands 

Cayman Islands 
Hong Kong

London

	 	 
	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 	 	 	 	 	 	 
	 	 	(m)	 	A Bermuda court may refuse
to give effect to any provisions of
the Subject Documents in respect of
costs of unsuccessful litigation
brought before the Bermuda court or
where that court has itself made an
order for costs.
	 
	 	 	 	 	 	 	 	 
	 	 	(n)	 	Searches of the Register
of Companies at the office of the
Registrar of Companies and of the
Supreme Court Causes Book at the
Registry of the Supreme Court are
not conclusive and it should be
noted that the Register of Companies
and the Supreme Court Causes Book do
not reveal:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	(i)
	 	details of matters which
have been lodged for filing or
registration which as a matter of
best practice of the Registrar of
Companies or the Registry of the
Supreme Court would have or
should have been disclosed on the
public file, the Causes Book or the
Judgment Book, as the case may be,
but for whatever reason have not
actually been filed or registered
or are not disclosed or which,
notwithstanding filing or
registration, at the date and time
the search is concluded are for
whatever reason not disclosed or do
not appear on the public file, the
Causes Book or Judgment Book;	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	(ii)
	 	details of matters
which should have been
lodged for filing or
registration at the Registrar of
Companies or the Registry of the
Supreme Court but have not been
lodged for filing or registration at
the date the search is concluded;	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	(iii)
	 	whether an application to
the Supreme Court for a winding-up
petition or for the appointment of a
receiver or manager has been
prepared but not yet been presented
or has been presented but does not
appear in the Causes Book at the
date and time the search is
concluded;	 	 
	 
	 	 	 	 	 	 	 	 
	Bermuda

British Virgin Islands

Cayman Islands

Hong Kong

London

	 	 	 	(iv)
	 	whether any arbitration
or administrative proceedings are
pending or whether any proceedings
are threatened, or whether any
arbitrator has been appointed; or	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(v)
	 	whether a receiver or
manager has been appointed privately
pursuant to the provisions of a
debenture or other security, unless
notice of the fact has been entered
in the Register of Charges in
accordance with the provisions of
the Act.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Furthermore, in the absence of a
statutorily defined system for the
registration of charges created
by companies incorporated
outside Bermuda (“overseas
companies”) over their assets
located in Bermuda, it is not
possible to determine definitively
from searches of the Register of
Charges maintained by the Registrar
of Companies in respect of such
overseas companies what charges have
been registered over any of their
assets located in Bermuda or whether
any one charge has priority over any
other charge over such assets.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	(o)	 	In order to issue this
opinion we have carried out the
Company Search as referred to in the
First Schedule to this opinion and
have not enquired as to whether
there has been any change since the
date of such search.
	 
	 	 	 	 	 	 	 	 
	 	 	(p)	 	In order to issue this
opinion we have carried out the
Litigation Search as referred to in
the First Schedule to this opinion
and have not enquired as to whether
there has been any change since the
date of such search.
	 
	 	 	 	 	 	 	 	 
	 	 	(q)	 	In paragraph (1) above,
the term “good standing” means that
the Company has received a
Certificate of Compliance from the
Registrar of Companies.
	 
	 	 	 	 	 	 	 	 
	 	 	Disclosure	 	 
	 
	 	 	 	 	 	 	 	 
	Bermuda
British Virgin Islands

Cayman Islands

Hong Kong

London	 	This opinion is addressed to you
solely for your benefit and is
neither to be transmitted to any
other person, nor relied upon by any
other person or for any other
purpose nor quoted or referred to in
any public document nor filed with
any governmental agency or person,
without our prior written consent,
except as may be required by law or
regulatory authority. Further,
this opinion speaks as of its date
and is strictly limited to	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 
	 

	 	the matters stated herein and we assume no obligation to review or update this opinion if
applicable law or the existing facts or circumstances should change.
	 
	 	 
	 

	 	This opinion is governed by and is to be construed in accordance with Bermuda law. It is given on
the basis that it will not give rise to any legal proceedings with respect thereto in any
jurisdiction other than Bermuda.
	 
	 	 
	 

	 	Yours faithfully
	 
	 	 
	 

	 	
	 

	 	Appleby Spurting Hunter
	 
	 	 
	Bermuda

British Virgin Islands

Cayman Islands

Hong Kong

London
	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 	 	 	 	 
	 	 	FIRST SCHEDULE
	 
	 	 	 	 	 	 
	 

	 	 	1.	 	 	The entries and filings shown in respect of the Company on the file of the
Company maintained in the Register of Companies at office of the Registrar of
Companies in Hamilton, Bermuda, as revealed by a search conducted on 11
April 2006 and updated on 12 April 2006 (the “Company Search”).
	 
	 	 	 	 	 	 
	 

	 	 	2.	 	 	The entries and filings shown in respect of the Company in the Supreme Court
Causes Book maintained at the Registry of the Supreme Court in Hamilton,
Bermuda, as revealed by a search conducted on 11 April 2006 and updated on
12 April 2006 (the “Litigation Search”).
	 
	 	 	 	 	 	 
	 

	 	 	3.	 	 	Certified copies of the Certificate of Incorporation, Memorandum of
Association and Bye-Laws in respect of the Company (collectively referred to as
the “Constitutional Documents”).
	 
	 	 	 	 	 	 
	 

	 	 	4.	 	 	Certified copy of the Minutes of the Meeting of the Board of Directors of the
Company held on 11 April 2006 and Minutes of the Meeting of the
Shareholders of the Company held on 11 April 2006 (the “Resolutions”).
	 
	 	 	 	 	 	 
	 

	 	 	5.	 	 	Certified copy of the “Foreign Exchange Letter”, issued by the Bermuda Monetary Authority, in respect of the Company.
	 
	 	 	 	 	 	 
	 

	 	 	6.	 	 	Certified copy of the “Tax Assurance” issued by the Registrar of Companies for the Minister of Finance in respect of the Company.
	 
	 	 	 	 	 	 
	 

	 	 	7.	 	 	Certificate of Compliance issued by the Ministry of Finance in respect of the Company.
	 
	 	 	 	 	 	 
	 

	 	 	8.	 	 	Certificate of Incumbency in respect of the Company.
	 
	 	 	 	 	 	 
	 

	 	 	9.	 	 	Certified copy of the Register of Shareholders in respect of the Company.
	 
	 	 	 	 	 	 
	Bermuda

British Virgin Islands
Cayman Islands
Hong Kong
London
	 	 	 	 	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 	 	 	 	 
	 

	 	 	10.	 	 	Certified copy of the Register of Directors and Officers in respect of the Company.
	 
	 	 	 	 	 	 
	 

	 	 	11.	 	 	Faxed copy of the executed Credit Agreement.
	 
	 	 	 	 	 	 
	 

	 	 	12.	 	 	Faxed copy of an executed Intercompany Subordination Acknowledgment and
Amendment dated 12 April 2006, among each of the parties to the agreement
(the “Intercompany Subordination Acknowledgment and Amendment”).
	 
	 	 	 	 	 	 
	Bermuda

British Virgin Islands
Cayman Islands
Hong Kong
London
	 	 	 	 	 	 

 

 

	 	 	 
	 

	 	To those parties listed in the Second Schedule
	

	 	12 April 2006

	 	 	 	 	 	 	 
	 	 	SECOND SCHEDULE
	 
	 	 	 	 	 	 
	 

	 	 	1.	 	 	Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent.
	 
	 	 	 	 	 	 
	 

	 	 	2.	 	 	Banc of America Securities LLC, as Syndication Agent.
	 
	 	 	 	 	 	 
	 

	 	 	3.	 	 	The Bank of Nova Scotia, as Documentation Agent.
	 
	 	 	 	 	 	 
	 

	 	 	4.	 	 	Each of the Lenders to the Credit Agreement as defined therein.
	 
	 	 	 	 	 	 
	Bermuda

British Virgin Islands

Cayman Islands

Hong Kong

London
	 	 	 	 	 	 

 

 

EXHIBIT F

FORM OF OFFICERS’ CERTIFICATE

      
    I, the undersigned, [Chairman/Vice Chairman/President/Vice-President] of [Name of [Credit
Party], a corporation organized and existing under the laws of [the State of]
[                 
   ] (the “Company”) [, which corporation constitutes the general
partner of                  
   ,
a           [general] [limited]
 partnership (the “Partnership”)] [, which corporation constitutes the
managing member of               
      , a            
          limited liability company (the “Limited Liability
Company”)], do hereby certify on behalf of the Company [, as the general partner of the
Partnership] [, as the managing member of the Limited Liability Company], that:

     1. This Certificate is
 furnished pursuant to the Credit Agreement, dated as of March 28, 2003,
amended and restated as of April 18, 2005 and further amended and restated as of April 12, 2006 (as
so amended and restated and as the same may be further amended, restated, modified and/or
supplemented from time to time, the “Credit Agreement”), among [the Company,] [
DHM Holding
Company, Inc.,] [Dole Holding Company, LLC,] [Dole Food Company, Inc.,] [Solvest,
 Ltd.,], the
lenders from time to time party thereto, Banc of America Securities LLC, as Syndication Agent, The
Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger and
Sole Book Runner, and Deutsche Bank AG New York Branch, as Administrative Agent and Deposit Bank.
Unless otherwise defined herein, capitalized terms used in this Certificate shall have the meanings
set forth in the Credit Agreement.

     2. The following named
individuals are elected or appointed officers of the Company, each
holds the office of the Company set forth opposite his name and has held such
office since                 
    ,         
  .1 The signature written opposite the
name and title of each such
officer is [his] [her] genuine signature.

	 	 	 	 	 
	Name2	 	Office	 	Signature
	 	 	 	 	 
	 
	 

	 	 

	 	 

	 	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	 

	 	 

	 	 

     [3. Attached hereto as
Exhibit A is a certified copy of the [Certificate of Incorporation of
the Company] [Certificate of Partnership of the Partnership] [Certificate of Formation of the
Limited Liability Company] [Memorandum of Articles and Association] or equivalent charter
document of the Company, as filed in the Office of [the Secretary of State of the State of    
       ]
[insert applicable governmental office] on        
   ,              
       , together with all amendments
thereto adopted through the date hereof.

     4. Attached hereto
 as Exhibit B is a [true and correct copy of the [By-Laws][insert
equivalent organization document] of the Company which were duly adopted, are in full force

 

			
	1	 	Insert a date prior to the time of any Company (as defined in the Credit Agreement)
action relating to the Documents or related documentation.
	 
	2	 	Include name, office and signature of each officer who will sign any Document on
behalf of the Company, including the officer who will sign the certification at the end of
this Certificate or related documentation.

 

 

Page 2

and effect on the date hereof, and have been in effect since                     ,           ] [certified copy
of the [Partnership Agreement of the Partnership] [Limited Liability Company Agreement of the
Limited Liability Company], together with all amendments thereto adopted through the date
hereof.]3

     [3. Other than attached
as Exhibit A, there have been no changes to the certified copies of
(x) the [Certificate of Incorporation of the Company] [Certificate of Partnership of the
Partnership] [Certificate of Formation of the Limited Liability Company] [Memorandum of Articles
and Association] or equivalent charter document of the Company, as filed in the Office of
[the Secretary of State of the State of          ] [insert applicable Bermudan governmental office]
on           ,        
             ,] or (y) 
the [By-Laws] [insert equivalent organization document] of the
Company, in each case as delivered pursuant to Section 5.04(a) of the Original Credit
Agreement.]4

     [4. Attached hereto
as Exhibits A-l through A-[     ] are true and correct copies of the
Certificate of Incorporation, Certificate of Partnership, Certificate of Formation, Memorandum of
Articles and Association or equivalent charter document of each Foreign Subsidiary of Holdings (x)
which is a New Foreign Subsidiary Guarantor or (y) in respect of the Equity Interests of which
security interests are being granted by a New Foreign Subsidiary Guarantor (each, a “Subject
New Foreign Subsidiary”), as filed in the applicable foreign governmental office on the date
noted thereon, together with all amendments thereto adopted through the date hereof.

     5. Attached hereto
as Exhibits B-l through B-[     ] are true and correct copies of the
By-Laws, Partnership Agreement, Limited Liability Company Agreement or equivalent
organizational document of each Subject New Foreign Subsidiary which were duly adopted, are in full
force and effect on the date hereof, and have been in effect since the date noted thereon, together
with all amendments thereto adopted through the date hereof.

     6. Other than attached as Exhibit C, there have been no changes to the certified copies of (x)
the Certificate of Incorporation, Certificate of Partnership, Certificate of Formation, Memorandum
of Articles and Association or equivalent charter document of any Foreign Subsidiary Guarantor
(other than a New Foreign Subsidiary Guarantor) or (y) the By-Laws, Partnership Agreement, Limited
Liability Company Agreement or equivalent organizational document of any Foreign Subsidiary
Guarantor (other than a New Foreign Subsidiary Guarantor), in each case as delivered pursuant to
Section 5.04(a) of the Original Credit Agreement.]5

   
  [4.] [5.] [7.] Attached hereto as Exhibit [B] [C]
[D] is a true and correct copy of
resolutions which were duly adopted on                  ,         
   [by unanimous written consent of the
[Board of Directors] of the Company] [by a meeting of the [Board of Directors]
of the Company at
which a quorum was present and acting throughout], and said resolutions have not been rescinded,
amended or modified. Except as attached hereto as Exhibit [B] [C] [D], no

 

			
	3	 	Insert bracketed items 3 and 4 in the Certificates delivered on behalf of each New U.S. Credit Party.
	 
	4	 	Insert bracketed item 3 in the Certificates delivered on behalf of each Credit Agreement Party and each U.S. Subsidiary Guarantor (other than a New U.S. Credit Party).
	 
	5	 	Insert bracketed items 4, 5 and 6 in the Certificate delivered on behalf of the U.S. Borrower.

 

 

Page 3

resolutions have been adopted by the [Board of Directors] of the Company which deal with the
execution, delivery or performance of any of the Documents to which the Company [, as the general
partner of the Partnership,] [, as the managing member of the Limited Liability Company,] is a
party.6

     [8. Attached hereto as
Exhibits E-l through E-[     ] are true and correct copies of the
resolutions of each Foreign Subsidiary Guarantor requested by the Administrative Agent which
were duly adopted on                
     ,            , and said
resolutions have not been rescinded,
amended or modified. Except as attached hereto as respective such Exhibits, no resolutions have
been adopted by the Board of Directors (or equivalent body) of the respective Foreign Subsidiary
Guarantor which deal with the execution, delivery or performance of any of the Documents to which
such Foreign Subsidiary Guarantor is a party.]7

     [5.] [6.] [9.] On the date hereof, the Company is in good standing in the Company’s
jurisdiction of organization and such states where the Company conducts business [and each Foreign
Subsidiary Guarantor is in good standing in its jurisdiction of organization (to the extent such
concept is applicable in such jurisdiction)]8.

     [10. On the date hereof, all of the conditions set forth in Sections 5.05 through 5.09,
inclusive and Section 6.01 of the Credit Agreement have been satisfied.

     11. Attached hereto as Exhibit F are true and correct copies of all Shareholders’ Agreements
required to be made available to the Administrative Agent pursuant to Section 5.13(a)(i) of the
Credit Agreement.

     12. Attached hereto as Exhibit G are true and correct copies of all Management Agreements
required to be made available to the Administrative Agent pursuant to Section 5.13(a)(ii) of the
Credit Agreement.

     13. Attached hereto as Exhibit H are true and correct copies of all Existing Indebtedness
Agreements required to be made available to the Administrative Agent pursuant to Section
5.13(a)(iii) of the Credit Agreement.

     14. Attached hereto as Exhibit I are true and correct copies of all Tax Allocation Agreements
required to be made available to the Administrative Agent pursuant to Section 5.13(a)(iv) of the
Credit Agreement.

     15. On the date hereof, all of the agreements referred to in clauses (ii), (iii), (v) and (vi)
of Section 5.19 of the Original Credit Agreement, previously delivered (or made available) to the
Administrative Agent by the U.S. Borrower, remain in full force and effect[, except as set forth on
Exhibit J hereto]. Any amendments to the agreements referred to in clauses (ii), (iii), (v)

 

			
	6	 	To be included for each Credit Agreement Party and each U.S. Subsidiary Guarantor.
	 
	7	 	Insert bracketed item 8 in the Certificate delivered on behalf of the U.S. Borrower.
	 
	8	 	Insert in the Certificate of the U.S. Borrower.

 

 

Page 4

and (vi) of Section 5.19 of the Original Credit Agreement that remain in effect on the Restatement
Effective Date are attached as Exhibit [J][K] hereto.

     16. The subordination provisions contained in the Existing Senior Notes Documents are
enforceable against (i) the U.S. Subsidiary Guarantors party thereto, and (ii) the holders of the
Existing Senior Notes. All Guaranteed Obligations (as defined in the U.S. Subsidiaries Guaranty) of
the U.S. Subsidiary Guarantors are within the definitions of “Guarantor Senior Debt” and
“Designated Guarantor Senior Debt” included in such subordination provisions.]9

     [6.] [7.] [17.] On the date hereof, the representations and warranties contained in the
Credit Documents to which the Company is a party, are true and correct in all material respects
with the same effect as though such representations and warranties had been made on the date
hereof, both before and after giving effect to each Credit Event to occur on the date hereof and
the application of the proceeds thereof, unless stated to relate to a specific earlier date, in
which case such representations and warranties were true and correct in all material respects as
of such earlier date.

     [7.] [8.] [18.] On the date hereof, no Default or Event of Default has occurred and is
continuing or would result from any Credit Event to occur on the date hereof or from the
application of the proceeds thereof.

     [8.] [9.] [19.] There is no pending proceeding for the dissolution or liquidation of the
[Company] [Partnership] [Limited Liability Company] or threatening its existence.

     [20. There is no pending proceeding for the dissolution or liquidation of any Foreign
Subsidiary Guarantor.]10

 

			
	9	 	Insert bracketed items 10 through 16 only for the Certificate delivered on behalf of
the U.S. Borrower.
	 
	10	 	Bracketed item to be included only in the Certificate delivered on behalf of the U.S.
Borrower.

 

 

Page 5

          IN WITNESS WHEREOF, I have hereunto set my hand this       day of April, 2006.

	 	 	 	 	 
	 

	 	[NAME OF CREDIT PARTY]	 	 
	 
	 	 	 	 
	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

 

Page 6

          I, the undersigned, [Secretary/Assistant Secretary/Senior Officer] of the Company, do hereby
certify [on behalf of the Company] [on behalf of the Company, as general partner of the
Partnership,] [on behalf of the Company, as the managing member of the Limited Liability Company,]
that:

          1. [Name of Person making above certifications] is the duly elected and qualified
[Chairman/Vice Chairman/President/Vice President] of the Company and the signature above is
[his][her] genuine signature.

          2. The certifications made by [name of Person making above certifications] [on behalf of the
Company] [on behalf of the Company, as general partner of the Partnership] [on behalf of the
Company, as the managing member of the Limited Liability Company] in Items 2, 3, 4, 5, 6 [and
[8][9]]11 [, 7, 8, 9, 19 and 20]12 above are true and correct.

          IN
WITNESS WHEREOF, I have hereunto set my hand this ___ day of April, 2006.

	 	 	 	 	 
	 	[NAME OF CREDIT PARTY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	11	 	Insert in the Certificates of each Credit Agreement Party (other than the U.S.
Borrower) and each U.S. Subsidiary Guarantor.
	 
	12	 	Insert in the Certificates of the U.S. Borrower.

 

 

EXHIBIT G-1

U.S. SUBSIDIARIES GUARANTY

          GUARANTY, dated as of March 28, 2003 and amended and restated as of April 12, 2006 (as
further amended, restated, modified and/or supplemented from time to time, this “Guaranty”), made
by each of the undersigned guarantors (each, a “Guarantor” and, together with any other entity
that becomes a guarantor hereunder pursuant to Section 25 hereof, the “Guarantors”). Except as
otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement
(as defined below) shall be used herein as therein defined.

W I T N E S S E T H:

          WHEREAS, DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding Company,
LLC, a Delaware limited liability company (“Intermediate Holdco”), Dole Food Company, Inc., a
Delaware corporation (the “U.S. Borrower”), Solvest, Ltd., a company organized under the laws of
Bermuda (the “Bermuda Borrower”, and together with the U.S. Borrower, the “Borrowers”), various
financial institutions from time to time party thereto (the “Lenders”), Deutsche Bank AG, New York
Branch (in its individual capacity, and any successor corporation thereto by merger, consolidation
or otherwise, “DBAG”), as Deposit Bank, DBAG, as Administrative Agent (in such capacity, together
with any successor agent, the “Administrative Agent”), Banc of America Securities LLC, as
Syndication Agent (in such capacity, together with any successor agent, the “Syndication Agent”),
The Bank of Nova Scotia, as Documentation Agent (in such capacity, together with any successor
agent, the “Documentation Agent”), and Deutsche Bank Securities Inc., as Lead Arranger and Sole
Book Runner (in such capacity, the “Lead Arranger”, and, together with the Lenders, each Issuing
Lender, each Bank Guaranty Issuer, the Administrative Agent, the Syndication Agent, the
Documentation Agent and the Collateral Agent, collectively, the “Lender Creditors”) have entered
into a Credit Agreement, dated as of March 28, 2003, amended and restated as of April 18, 2005, and
further amended and restated as of April 12, 2006 (as amended, modified, restated and/or
supplemented from time to time, the “Credit Agreement”), providing, for the making of certain Loans
to each of the Borrowers, the issuance of, and participation in, Letters of Credit for the
respective accounts of each of the Borrowers and the issuance of, and participation in, Bank
Guaranties for the respective accounts of each of the Borrowers, all as contemplated therein;

          WHEREAS, each Borrower and/or one or more of each Borrower’s respective Subsidiaries may at
any time and from time to time enter into (or has on or after the Original Effective Date (as
defined in the Original Credit Agreement) entered into at any time and from time to time) one or
more Interest Rate Protection Agreements or Other Hedging Agreements with one or more Secured
Hedge Counterparties (each such Secured Hedge Counterparty, together with each such Secured Hedge
Counterparty’s respective affiliate’s successors and assigns, if any, collectively, the
“Hedging Creditors” and together with the Lender Creditors, are herein called the “Secured
Creditors”);

          WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings, Intermediate
Holdco and the U.S. Borrower has guaranteed to the Secured Creditors the payment when due of all
its respective Relevant Guaranteed Obligations;

 

 

Page 2

          WHEREAS, the Intercreditor Agreement governs the relative rights and priorities of the
Secured Creditors and the ABL Secured Creditors in respect of the TL Priority Collateral and the
ABL Priority Collateral;

          WHEREAS, each Guarantor is a direct or indirect Wholly-Owned Domestic Subsidiary of Holdings;

          WHEREAS, it is a condition precedent to the making of Loans to the Borrowers, the issuance
of, and participation in, Letters of Credit for the respective accounts of the Borrowers and the
issuance of, and participation in, Bank Guaranties for the respective accounts of the Borrowers
under the Credit Agreement and to the Hedging Creditors entering into Interest Rate Protection
Agreements and Other Hedging Agreements that each Guarantor shall have executed and delivered this
Guaranty; and

          WHEREAS, each Guarantor has obtained and will continue to obtain benefits from the incurrence
of Loans by the Borrowers, the issuance of, and participation in, Letters of Credit for the
respective accounts of the Borrowers and the issuance of, and participation in, Bank Guaranties for
the respective accounts of the Borrowers under the Credit Agreement and the entering into by the
Borrowers and/or their Subsidiaries of Interest Rate Protection Agreements and/or Other Hedging
Agreements and, accordingly, each Guarantor desires to enter into this Guaranty in order to satisfy
the condition described in the preceding paragraph and to induce the Lenders to make Loans to the
Borrowers and issue, and/or participate in, Letters of Credit for the respective accounts of the
Borrowers and issue, and/or participate in, Bank Guaranties for the respective accounts of the
Borrowers and the Hedging Creditors to enter into Interest Rate Protection Agreements and Other
Hedging Agreements with either of the Borrowers and/or one or more of their respective
Subsidiaries;

          NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each
Guarantor, the receipt and sufficiency of which are hereby acknowledged, each Guarantor hereby
makes the following representations and warranties to the Secured Creditors and hereby covenants
and agrees with each Secured Creditor as follows:

          1. Each Guarantor, jointly and severally, irrevocably, absolutely and unconditionally
guarantees as a primary obligor and not merely as surety: (i) to the Lender Creditors the full and
prompt payment when due (whether at the stated maturity, declaration, demand, required prepayment,
by acceleration or otherwise) of (x) the principal of, premium, if any, and interest on the Notes
issued by, and the Loans made to, each of the Borrowers under the Credit Agreement, all
reimbursement obligations and Unpaid Drawings with respect to Letters of Credit and all
reimbursement obligations and Unreimbursed Payments with respect to Bank Guaranties and (y) all
other obligations (including obligations which, but for the automatic stay under Section 362(a) of
the Bankruptcy Code, would become due), liabilities and indebtedness owing by each Borrower to the
Lender Creditors under the Credit Agreement and each other Credit Document to which such Borrower
is a party (including, without limitation, indemnities, Fees and interest thereon (including,
without limitation, any interest accruing on or after the commencement of any bankruptcy,
insolvency, receivership or similar proceeding of either Borrower or any Guarantor at the rate
provided for in the Credit Agreement, whether or not such interest is an allowed claim in any such
proceeding)), whether now existing or hereafter incurred

 

 

Page 3

under, arising out of or in connection with the Credit Agreement and any such other Credit Document
and the due performance and compliance by each Borrower with all of the terms, conditions,
covenants and agreements contained in all such Credit Documents (all such principal, premium,
interest, liabilities, indebtedness and obligations under this clause (i), except to the extent
consisting of obligations or liabilities with respect to Interest Rate Protection Agreements or
Other Hedging Agreements, being herein collectively called the “Credit Document
Obligations”); and (ii) to each Hedging Creditor the full and prompt payment when due (whether
at the stated maturity, declaration, demand, required prepayment, by acceleration or otherwise) of
all obligations (including obligations which, but for the automatic stay under Section 362(a) of
the Bankruptcy Code, would become due), liabilities and indebtedness (including, without
limitation, any interest accruing on or after the commencement of any bankruptcy, insolvency,
receivership or similar proceeding at the rate provided for in the respective Interest Rate
Protection Agreements or Other Hedging Agreements, whether or not such interest is an allowed claim
in any such proceeding) owing by each Borrower and each other Guaranteed Party under any Interest
Rate Protection Agreement or Other Hedging Agreement, whether now in existence or hereafter
arising, and the due performance and compliance by each Borrower and each other Guaranteed Party
with all terms, conditions, covenants and agreements contained therein (all such obligations,
liabilities and indebtedness being herein collectively called the “Hedging Obligations”,
and together with the Credit Document Obligations are herein collectively called the “Guaranteed
Obligations”); provided, however, that notwithstanding the foregoing, the joint and several
guarantee obligations described above of each Guarantor which is a Bermuda Partnership Partner
shall be limited to (x) the Credit Document Obligations owing by the U.S. Borrower to the Lender
Creditors and (y) the Hedging Obligations owing by the U.S. Borrower and each other Guaranteed
Party that is a Domestic Subsidiary of the U.S. Borrower (and the term “Guaranteed Obligations” as
used herein shall include, as to any Bermuda Partnership Partner, only such obligations described
in preceding clauses (x) and (y)). As used herein, the term “Guaranteed Party” shall mean
each Borrower and each Subsidiary of such Borrower party to any Interest Rate Protection Agreement
or Other Hedging Agreement with a Hedging Creditor. Each Guarantor understands, agrees and confirms
that, subject to the relevant provisions of Section 23 hereof, the Secured Creditors may enforce
this Guaranty up to the full amount of the Guaranteed Obligations of such Guarantor against such
Guarantor without proceeding against any other Guarantor, either Borrower or any other Guaranteed
Party, or against any security for the Guaranteed Obligations, or under any other guaranty covering
all or a portion of the Guaranteed Obligations.

          2. Additionally, each Guarantor, jointly and severally, unconditionally,
absolutely and irrevocably, guarantees the payment of any and all Guaranteed Obligations of
such Guarantor (whether or not due or payable by either Borrower or any other Guaranteed
Party) upon the occurrence in respect of either Borrower or any such other Guaranteed Party of
any of the events specified in Section 10.05 of the Credit Agreement, and unconditionally,
absolutely and irrevocably, jointly and severally, promises to pay such Guaranteed Obligations
to the Secured Creditors, or order, on demand. This Guaranty shall constitute a guaranty of
payment, and not of collection.

          3. The liability of each Guarantor hereunder is primary, absolute, joint and
several, and unconditional and is exclusive and independent of any security for or other
guaranty
of the Guaranteed Obligations of either Borrower or any other Guaranteed Party whether

 

 

Page 4

executed by such Guarantor, any other Guarantor, any other guarantor or by any other party, and the
liability of each Guarantor hereunder shall not be affected or impaired by any circumstance or
occurrence whatsoever, including, without limitation (a) any direction as to application of payment
by either Borrower or any other Guaranteed Party or by any other party, (b) any other continuing or
other guaranty, undertaking or maximum liability of a Guarantor or of any other party as to the
Guaranteed Obligations, (c) any payment on or in reduction of any such other guaranty or
undertaking, (d) any dissolution, termination or increase, decrease or change in personnel by
either Borrower or any other Guaranteed Party, (e) the failure of the Guarantor to receive any
benefit from or as a result of its execution, delivery and performance of this Guaranty, (f) any
payment made to any Secured Creditor on the Guaranteed Obligations or other indebtedness which any
Secured Creditor repays either Borrower or any other Guaranteed Party pursuant to court order in
any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each
Guarantor waives any right to the deferral or modification of its obligations hereunder by reason
of any such proceeding, (g) any action or inaction by the Secured Creditors as contemplated in
Section 6 hereof or (e) any invalidity, rescission, irregularity or unenforceability of all or any
part of the Guaranteed Obligations or of any security therefor.

          4. The obligations of each Guarantor hereunder are independent of the
obligations of any other Guarantor, any other guarantor, either Borrower or any other
Guaranteed
Party, and a separate action or actions may be brought and prosecuted against each Guarantor
whether or not action is brought against any other Guarantor, any other guarantor, either
Borrower or any other Guaranteed Party and whether or not any other Guarantor, any other
guarantor, either Borrower or any other Guaranteed Party be joined in any such action or
actions.
Each Guarantor waives, to the fullest extent permitted by law, the benefits of any statute of
limitations affecting its liability hereunder or the enforcement thereof. Any payment by
either
Borrower or any other Guaranteed Party or other circumstance which operates to toll any
statute
of limitations as to such Borrower or such other Guaranteed Party shall operate to toll the
statute
of limitations as to each Guarantor.

          5. Each Guarantor hereby waives (to the fullest extent permitted by
applicable law) notice of acceptance of this Guaranty and notice of the existence, creation or
incurrence of any new or additional liability to which it may apply, and waives promptness,
diligence, presentment, demand of payment, demand for performance, protest, notice of dishonor
or nonpayment of any such liabilities, suit or taking of other action by the Administrative
Agent
or any other Secured Creditor against, and any other notice to, any party liable thereon
(including
such Guarantor, any other Guarantor, any other guarantor, either Borrower or any other
Guaranteed Party) and each Guarantor further hereby waives any and all notice of the creation,
renewal, extension or accrual of any of the Guaranteed Obligations and notice or proof of
reliance by any Secured Creditor upon this Guaranty, and the Guaranteed Obligations shall
conclusively be deemed to have been created, contracted or incurred, or renewed, extended,
amended, modified, supplemented or waived, in reliance upon this Guaranty.

          6. Subject to Section 18, any Secured Creditor may (except as shall be
required by applicable statute and cannot be waived) at any time and from time to time without
the consent of, or notice to, any Guarantor, without incurring responsibility to such
Guarantor,

 

 

Page 5

without impairing or releasing the obligations of such Guarantor hereunder, upon or without any
terms or conditions and in whole or in part:

     (a) change the manner, place or terms of payment of, and/or change, increase
or extend the time of payment of, renew, increase, accelerate or alter, any of the
Guaranteed Obligations (including any increase or decrease in the rate of interest
thereon
or the principal amount thereof), any security therefor, or any liability incurred
directly or
indirectly in respect thereof, and the guaranty herein made shall apply to the
Guaranteed
Obligations as so changed, extended, renewed or altered;

     (b) take and hold security for the payment of the Guaranteed Obligations and
sell, exchange, release, surrender, impair, realize upon or otherwise deal with in any
manner and in any order any property or other collateral by whomsoever at any time
pledged or mortgaged to secure, or howsoever securing, the Guaranteed Obligations or
any liabilities (including any of those hereunder) incurred directly or indirectly in
respect
thereof or hereof, and/or any offset thereagainst;

     (c) exercise or refrain from exercising any rights against either Borrower, any
other Guaranteed Party, any other Credit Party, any Subsidiary thereof, any other
guarantor of either Borrower or any other Guaranteed Party or others or otherwise act or refrain from acting;

     (d) settle or compromise any of the Guaranteed Obligations, any security
therefor or any liability (including any of those hereunder) incurred directly or
indirectly
in respect thereof or hereof, and may subordinate the payment of all or any part
thereof to
the payment of any liability (whether due or not) of either Borrower or any other
Guaranteed Party to creditors of such Borrower or such other Guaranteed Party other than
the Secured Creditors;

     (e) apply any sums by whomsoever paid or howsoever realized to any liability
or liabilities of either Borrower or any other Guaranteed Party to the Secured
Creditors
regardless of what liabilities of such Borrower or such other Guaranteed Party remain
unpaid;

     (f) consent to or waive any breach of, or any act, omission or default under,
any of the Interest Rate Protection Agreements or Other Hedging Agreements, the Credit
Documents or any of the instruments or agreements referred to therein, or otherwise
amend, modify or supplement any of the Interest Rate Protection Agreements or Other
Hedging Agreements, the Credit Documents or any of such other instruments or
agreements;

     (g) act or fail to act in any manner which may deprive such Guarantor of its
right to subrogation against either Borrower or any other Guaranteed Party to recover
full
indemnity for any payments made pursuant to this Guaranty;

     (h) release or substitute any one or more endorsers, Guarantors, other
guarantors, either Borrower, any other Guaranteed Party or other obligors; and/or

 

 

Page 6

     (i) take any other action which would, under otherwise applicable principles of common
law, give rise to a legal or equitable discharge of such Guarantor from its liabilities
under this Guaranty (including, without limitation, any action or omission whatsoever that
might otherwise vary the risk of such Guarantor or constitute a legal or equitable defense
to or discharge of the liabilities of a guarantor or surety or that might otherwise limit
recourse against such Guarantor).

          7. No invalidity, irregularity or unenforceability of all or any part of the
Guaranteed Obligations, the Credit Documents or any other agreement or instrument relating to
the Guaranteed Obligations or of any security or guarantee therefor shall affect, impair or be a
defense to this Guaranty, and this Guaranty shall be primary, absolute and unconditional
notwithstanding the occurrence of any event or the existence of any other circumstances which
might constitute a legal or equitable discharge of a surety or guarantor except payment in
full in
cash of the Guaranteed Obligations.

          8. This Guaranty is a continuing one and all liabilities to which it applies or
may apply under the terms hereof shall be conclusively presumed to have been created in
reliance hereon. No failure or delay on the part of any Secured Creditor in exercising any
right,
power or privilege hereunder shall operate as a waiver thereof, nor shall any single or
partial
exercise of any right, power or privilege hereunder preclude any other or further exercise
thereof
or the exercise of any other right, power or privilege. The rights and remedies herein
expressly
specified are cumulative and not exclusive of any rights or remedies which any Secured
Creditor
would otherwise have. No notice to or demand on any Guarantor in any case shall entitle such
Guarantor to any other further notice or demand in similar or other circumstances or
constitute a
waiver of the rights of any Secured Creditor to any other or further action in any
circumstances
without notice or demand. It is not necessary for any Secured Creditor to inquire into the
capacity or powers of either Borrower or any other Guaranteed Party or the officers,
directors,
partners or agents acting or purporting to act on its or their behalf, and any indebtedness
made or
created in reliance upon the professed exercise of such powers shall be guaranteed hereunder.

          9. Any indebtedness of either Borrower or any other Guaranteed Party now
or hereafter held by any Guarantor is hereby subordinated to the indebtedness of such Borrower
or such other Guaranteed Party to the Secured Creditors; and such indebtedness of such
Borrower or such other Guaranteed Party to any Guarantor, if the Administrative Agent or the
Collateral Agent, after an Event of Default has occurred and is continuing, so requests, shall be
collected, enforced and received by such Guarantor as trustee for the Secured Creditors and be
paid over to the Secured Creditors on account of the indebtedness of such Borrower or such
other
Guaranteed Party to the Secured Creditors, but without affecting or impairing in any manner the
liability of such Guarantor under the other provisions of this Guaranty. Prior to the
transfer by
any Guarantor of any note or negotiable instrument evidencing any indebtedness of either
Borrower or any other Guaranteed Party to such Guarantor, such Guarantor shall mark such note
or negotiable instrument with a legend that the same is subject to this subordination.
Without
limiting the generality of the foregoing, each Guarantor hereby agrees with the Secured
Creditors
that it will not exercise any right of subrogation which it may at any time otherwise have as a
result of this Guaranty (whether contractual, under Section 509 of the Bankruptcy Code or
otherwise) until all Guaranteed Obligations have been irrevocably paid in full in cash;
provided,

 

 

Page 7

that if any amount shall be paid to such Guarantor on account of such subrogation rights at any
time prior to the irrevocable payment in full in cash.

          10. (a) Each Guarantor waives any right (except as shall be required by applicable statute or
law and cannot be waived) to require the Secured Creditors to: (i) proceed against either
Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of any Guaranteed
Obligations or any other party; (ii) proceed against or exhaust any security held from either
Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of the Guaranteed
Obligations or any other party; or (iii) pursue any other remedy in the Secured Creditors’ power
whatsoever. Each Guarantor waives any (to the fullest extent permitted by applicable law) defense
based on or arising out of any defense of either Borrower, any other Guaranteed Party, any other
Guarantor, any other guarantor of the Guaranteed Obligations or any other party other than payment
in full in cash of the Guaranteed Obligations, including, without limitation, any defense based on
or arising out of the disability of either Borrower, any other Guaranteed Party, any other
Guarantor, any other guarantor of the Guaranteed Obligations or any other party, or the
unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of either Borrower or any other Guaranteed Party other
than payment in full in cash of the Guaranteed Obligations. The Secured Creditors may, at their
election, foreclose on any security held by the Administrative Agent, the Collateral Agent or the
other Secured Creditors by one or more judicial or nonjudicial sales, whether or not every aspect
of any such sale is commercially reasonable (to the extent such sale is permitted by applicable
law), or exercise any other right or remedy the Secured Creditors may have against either
Borrower, any other Guaranteed Party or any other party, or any security, without affecting or
impairing in any way the liability of any Guarantor hereunder except to the extent the Guaranteed
Obligations have been paid in full in cash. Each Guarantor waives any defense arising out of any
such election by the Secured Creditors, even though such election operates to impair or extinguish
any right of reimbursement or subrogation or other right or remedy of such Guarantor against
either Borrower, any other Guaranteed Party or any other party or any security.

          (b) Each Guarantor waives all presentments, demands for performance,
protests and notices, including, without limitation, notices of nonperformance, notices of
protest,
notices of dishonor, notices of acceptance of this Guaranty, and notices of the existence,
creation
or incurring of new or additional indebtedness. Each Guarantor assumes all responsibility
for being and keeping itself informed of each Borrower’s and each other Guaranteed Party’s
financial condition and assets, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks which
such Guarantor assumes and incurs hereunder, and agrees that the Secured Creditors shall have
no duty to advise any Guarantor of information known to them regarding such circumstances or
risks.

          (c) Each Guarantor hereby acknowledges and affirms that it understands that
to the extent the Guaranteed Obligations are secured by Real Property located in the State of
California, such Guarantor shall be liable for the full amount of the liability hereunder
notwithstanding foreclosure on such Real Property by trustee sale or any other reason
impairing
such Guarantor’s or any Secured Creditors’ right to proceed against either Borrower, any other
Guaranteed Party or any other guarantor of the Guaranteed Obligations.

 

 

Page 8

          (d) Each Guarantor hereby waives, to the fullest extent permitted by
applicable law, all rights and benefits under Section 580a, 580b, 580d and 726 of the
California
Code of Civil Procedure. Each Guarantor hereby further waives, to the fullest extent
permitted
by applicable law, without limiting the generality of the foregoing or any other provision
hereof,
all rights and benefits which might otherwise be available to such Guarantor under Sections
2809, 2810, 2815, 2819, 2821, 2839, 2845, 2848, 2849, 2850, 2899 and 3433 of the California
Civil Code.

          (e) Until the Guaranteed Obligations have been paid in full in cash, each
Guarantor waives its rights of subrogation and reimbursement and any other rights and defenses
available to such Guarantor by reason of Sections 2787 to 2855, inclusive, of the California
Civil
Code, including, without limitation, (1) any defenses such Guarantor may have to this Guaranty
by reason of an election of remedies by the Secured Creditors and (2) any rights or defenses
such
Guarantor may have by reason of protection afforded to either Borrower or any other Guaranteed
Party pursuant to the antideficiency or other laws of California limiting or discharging such
Borrower’s or such other Guaranteed Party’s indebtedness, including, without limitation,
Section
580a, 580b, 580d or 726 of the California Code of Civil Procedure. In furtherance of such
provisions, each Guarantor hereby waives all rights and defenses arising out of an election of
remedies by the Secured Creditors, even though that election of remedies, such as a
nonjudicial
foreclosure, destroys such Guarantor’s rights of subrogation and reimbursement against either
Borrower or any other Guaranteed Party by the operation of Section 580d of the California Code
of Civil Procedure or otherwise.

          (f) Each Guarantor warrants and agrees that each of the waivers set forth
above is made with full knowledge of its significance and consequences and that if any of such
waivers are determined to be contrary to any applicable law or public policy, such waivers
shall
be effective only to the maximum extent permitted by law.

          11. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, the
Secured Creditors agree (by their acceptance of the benefits of this Guaranty) that this Guaranty
may be enforced only by the action of the Administrative Agent or the Collateral Agent, in each
case acting upon the instructions of the Required Lenders (or, after the date on which all Credit
Document Obligations have been paid in full, the holders of at least a majority of the outstanding
Hedging Obligations) and that no other Secured Creditor shall have any right individually to seek
to enforce or to enforce this Guaranty or to realize upon the security to be granted by the
Security Documents, it being understood and agreed that such rights and remedies may be exercised
by the Administrative Agent or the Collateral Agent or, after all the Credit Document Obligations
have been paid in full, the holders of at least a majority of the outstanding Hedging Obligations,
as the case may be, for the benefit of the Secured Creditors upon the terms of this Guaranty and
the Security Documents. The Secured Creditors further agree that this Guaranty may not be enforced
against, and shall be non-recourse with respect to, any director, officer, employee, partner,
member or stockholder of any Guarantor (except to the extent such partner, member or stockholder
is also a Guarantor hereunder). It is understood and agreed that the agreement in this Section 11
is among and solely for the benefit of the Secured Creditors and that if the Required Lenders (or,
after the date on which all Credit Document Obligations have been paid in full, the holders of at
least a majority of the outstanding Hedging Obligations) so

 

 

Page 9

agree (without requiring the consent of any Guarantor), this Guaranty may be directly enforced by
any Secured Creditor.

          12. In order to induce the Lenders to make Loans to the Borrowers, to issue, and/or
participate in, Letters of Credit for the respective accounts of the Borrowers and to issue,
and/or participate in, Bank Guaranties for the respective accounts of the Borrowers pursuant to
the Credit Agreement, and in order to induce the Hedging Creditors to execute, deliver and perform
the Interest Rate Protection Agreements and Other Hedging Agreements, each Guarantor represents,
warrants and covenants that:

     (a) such Guarantor (i) is a duly organized and validly existing Company in
good standing under the laws of the jurisdiction of its organization, (ii) has the
Company
power and authority to own its property and assets and to transact the business in
which it
is engaged and presently proposes to engage and (iii) is duly qualified and is
authorized
to do business and is in good standing in all jurisdictions where it is required to be
so
qualified and where the failure to be so qualified could reasonably be expected to have
a Material Adverse Effect;

     (b) such Guarantor has the Company power and authority to execute, deliver and
perform the terms and provisions of this Guaranty and each other Credit Document (such
term, for purposes of this Guaranty, to mean each Credit Document (as defined in the
Credit Agreement) and each Interest Rate Protection Agreement and Other Hedging
Agreement with a Hedging Creditor) to which it is a party and has taken all necessary
Company action to authorize the execution, delivery and performance by it of this
Guaranty and each such other Credit Document;

     (c) such Guarantor has duly executed and delivered this Guaranty and each other
Credit Document to which it is a party, and this Guaranty and each such other Credit
Document constitutes the legal, valid and binding obligation of such Guarantor
enforceable in accordance with its terms, except to the extent that the enforceability
hereof or thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws generally affecting creditors’ rights and by equitable
principles (regardless of whether enforcement is sought in equity or at law);

     (d) neither the execution, delivery or performance by such Guarantor of this
Guaranty or any other Credit Document to which it is a party, nor compliance by it with
the terms and provisions hereof and thereof, will (i) contravene any material provision
of
any applicable law, statute, rule or regulation or any applicable order, writ,
injunction or
decree of any court or governmental instrumentality, (ii) conflict with or be
inconsistent
with or result in any breach of any of the terms, covenants, conditions or provisions
of, or
constitute a default under, or result in the creation or imposition of (or the
obligation to
create or impose) any Lien (except pursuant to the Security Documents) upon any of the
material property or assets of such Guarantor or any of its Subsidiaries pursuant to
the
terms of any indenture, mortgage, deed of trust, loan agreement, credit agreement, or
any
other material agreement, contract or instrument to which such Guarantor or any of its
Subsidiaries is a party or by which it or any of its material property or assets is
bound or
to which it may be subject or (iii) violate any provision of the certificate or
articles of

 

 

Page 10

incorporation, by-laws, partnership agreement or limited liability company agreement (or
equivalent organizational documents), as the case may be, of such Guarantor or any of its
Subsidiaries;

     (e) no order, consent, approval, license, authorization or validation of, or filing,
recording or registration with (except as may have been obtained or made prior to the
date when required and which remain in full force and effect), or exemption by, any
governmental or public body or authority, or any subdivision thereof, is required to
authorize, or is required in connection with, (i) the execution, delivery and
performance
of this Guaranty by such Guarantor or any other Credit Document to which such
Guarantor is a party or (ii) the legality, validity, binding effect or enforceability
of this
Guaranty or any other Credit Document to which such Guarantor is a party; and

     (f) there are no actions, suits or proceedings pending or, to such Guarantor’s
knowledge, threatened (i) with respect to this Guaranty or any other Document to which
such Guarantor is a party, (ii) with respect to such Guarantor or any of its
Subsidiaries
that, either individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect or (iii) that could reasonably be expected to have a material
adverse effect on the rights or remedies of the Secured Creditors or on the ability of
such
Guarantor to perform its respective obligations to the Secured Creditors hereunder and
under the other Credit Documents to which it is a party.

          13. Each Guarantor covenants and agrees that on and after the Restatement
Effective Date and until the termination of the Total Commitment and all Interest Rate
Protection
Agreements and Other Hedging Agreements and until such time as no Note, Letter of Credit or
Bank Guaranty remains outstanding and all Guaranteed Obligations have been paid in full (other
than indemnities described in Section 13.13 of the Credit Agreement and analogous provisions
in the Security Documents which are not then due and payable), such Guarantor will comply and
will cause each of its Subsidiaries to comply with, all of the applicable provisions,
covenants and
agreements contained in Sections 8 and 9 of the Credit Agreement, and shall take, or will
refrain
from taking, as the case may be, all actions that are necessary to be taken or not taken so
that no
violation of any provision, covenant or agreement contained in Section 8 or 9 of the Credit
Agreement, and so that no Default or Event of Default, is caused by the actions of such
Guarantor or any of its Subsidiaries.

          14. The Guarantors hereby jointly and severally agree to pay all reasonable
out-of-pocket costs and expenses of the Collateral Agent, the Administrative Agent and each
other Secured Creditor in connection with the enforcement of this Guaranty and the protection
of
such Secured Creditor’s rights hereunder and any amendment, waiver or consent relating hereto
(including, in each case, without limitation, the reasonable fees and disbursements of counsel
(including in-house counsel) employed by the Collateral Agent, the Administrative Agent and
each other Secured Creditor).

          15. This Guaranty shall be binding upon each Guarantor and its successors
and assigns and shall inure to the benefit of the Secured Creditors and their successors and
assigns.

 

 

Page 11

          16. Neither this Guaranty nor any provision hereof may be changed, waived,
discharged or terminated except with the written consent of each Guarantor directly affected
thereby (it being understood that the addition or release of any Guarantor hereunder shall not
constitute a change, waiver, discharge or termination affecting any Guarantor other than the
Guarantor so added or released) and with the written consent of either (x) the Required
Lenders
(or to the extent required by Section 13.12 of the Credit Agreement, with the written consent
of
each Lender) at all times prior to the time at which all Credit Document Obligations have been
paid in full or (y) the holders of at least a majority of the outstanding Hedging Obligations
at all
times after the time at which all Credit Document Obligations have been paid in full;
provided,
that any change, waiver, modification or variance affecting the rights and benefits of a
single
Class (as defined below) of Secured Creditors (and not all Secured Creditors in a like or
similar
manner) shall also require the written consent of the Requisite Creditors (as defined below)
of
such Class of Secured Creditors (it being understood that the addition or release of any
Guarantor hereunder shall not constitute a change, waiver, discharge or termination affecting
any
Guarantor other than the Guarantor so added or released). For the purpose of this Guaranty,
the
term “Class” shall mean each class of Secured Creditors, i.e., whether (x) the Lender
Creditors as
holders of the Credit Document Obligations or (y) the Hedging Creditors as the holders of the
Hedging Obligations. For the purpose of this Guaranty, the term “Requisite Creditors” of any
Class shall mean (x) with respect to the Credit Document Obligations, the Required Lenders
(or,
to the extent required by Section 13.12 of the Credit Agreement, each Lender) and (y) with
respect to the Hedging Obligations, the holders of at least a majority of all obligations
outstanding from time to time under the Interest Rate Protection Agreements and Other Hedging
Agreements.

          17. Each Guarantor acknowledges that an executed (or conformed) copy of
each of the Credit Documents and Interest Rate Protection Agreements or Other Hedging
Agreements has been made available to an Authorized Officer of such Guarantor and such
Authorized Officer is familiar with the contents thereof.

          18. In addition to any rights now or hereafter granted under applicable law
(including, without limitation, Section 151 of the New York Debtor and Creditor Law) and not
by way of limitation of any such rights, upon the occurrence and during the continuance of an
Event of Default (such term to mean and include any “Event of Default” as defined in the
Credit
Agreement and, following the termination of the Credit Agreement, any payment default under
any Interest Rate Protection Agreement or Other Hedging Agreement continuing after any
applicable grace period), each Secured Creditor is hereby authorized, at any time or from time
to
time, without notice to any Guarantor or to any other Person, any such notice being expressly
waived, to set off and to appropriate and apply any and all deposits (general or special) and
any
other indebtedness at any time held or owing by such Secured Creditor to or for the credit or
the
account of such Guarantor, against and on account of the obligations and liabilities of such
Guarantor to such Secured Creditor under this Guaranty, irrespective of whether or not such
Secured Creditor shall have made any demand hereunder and although said obligations,
liabilities, deposits or claims, or any of them, shall be contingent or unmatured.
Notwithstanding
anything to the contrary contained in this Guaranty, at any time that the Guaranteed
Obligations
shall be secured by any Real Property located in the State of California, no Secured Creditor
shall exercise any right of set-off, lien or counterclaim or take any court or administrative
action
or institute any proceedings to enforce any provisions of this Guaranty without the prior
consent

 

 

Page 12

of the Administrative Agent or the Required Lenders or, to the extent required by Section 13.12 of
the Credit Agreement, all of the Lenders, if such setoff or action or proceeding would or might
(pursuant to Sections 580a, 580b, 580d and 726 of the California Code of Civil Procedure or
Section 2924 of the California Civil Code, if applicable, or otherwise) affect or impair the
validity, priority, or enforceability of the liens granted to the Collateral Agent pursuant to the
Security Documents or the enforceability of the Guaranteed Obligations hereunder, and any
attempted exercise by any Secured Creditor or the Administrative Agent of any such right without
obtaining such consent of the Required Lenders or the Administrative Agent shall be null and void.
It is understood and agreed that the foregoing sentence of this Section 18 is for the sole benefit
of the Secured Creditors and may be amended, modified or waived in any respect by the Required
Lenders without the requirement of prior notice to or consent by any Credit Party and does not
constitute a waiver of any rights against any Credit Party or against any Collateral. Each Secured
Creditor (by its acceptance of the benefits hereof) acknowledges and agrees that the provisions of
this Section 18 are subject to the sharing provisions set forth in Section 13.06(b) of the Credit
Agreement.

          19. All notices, requests, demands or other communications pursuant hereto
shall be deemed to have been duly given or made when delivered to the Person to which such
notice, request, demand or other communication is required or permitted to be given or made
under this Guaranty, addressed to such party at (i) in the case of any Lender Creditor, as
provided in the Credit Agreement, (ii) in the case of any Guarantor, at its address set forth
opposite its signature below and (iii) in the case of any Hedging Creditor, at such address as
such
Hedging Creditor shall have specified in writing to the Guarantors; or in any case at such
other
address as any of the Persons listed above may hereafter notify the others in writing.

          20. If claim is ever made upon any Secured Creditor for repayment or
recovery of any amount or amounts received in payment or on account of any of the Guaranteed
Obligations and any of the aforesaid payees repays all or part of said amount by reason of (i)
any
judgment, decree or order of any court or administrative body having jurisdiction over such
payee or any of its property or (ii) any settlement or compromise of any such claim effected
by
such payee with any such claimant (including either Borrower or any other Guaranteed Party),
then and in such event each Guarantor agrees that any such judgment, decree, order, settlement
or compromise shall be binding upon such Guarantor, notwithstanding any revocation hereof or
the cancellation of any Note, any Interest Rate Protection Agreement, any Other Hedging
Agreement or any other instrument evidencing any liability of either Borrower or any other
Guaranteed Party, and such Guarantor shall be and remain liable to the aforesaid payees
hereunder for the amount so repaid or recovered to the same extent as if such amount had never
originally been received by any such payee.

          21. (a) THIS GUARANTY AND THE RIGHTS AND OBLIGATIONS OF
THE SECURED CREDITORS AND OF THE UNDERSIGNED HEREUNDER SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE
OF NEW YORK. Any legal action or proceeding with respect to this Guaranty or any other
Credit Document to which any Guarantor is a party may be brought in the courts of the State of
New York or of the United States of America for the Southern District of New York, in each
case located within the City of New York, and, by execution and delivery of this Guaranty,
each
Guarantor hereby irrevocably accepts for itself and in respect of its property, generally and

 

 

Page 13

unconditionally, the jurisdiction of the aforesaid courts. Each Guarantor hereby further
irrevocably waives any claim that any such courts lack jurisdiction over such Guarantor, and
agrees not to plead or claim, in any legal action or proceeding with respect to this Guaranty or
any other Credit Document to which such Guarantor is a party brought in any of the aforesaid
courts, that any such court lacks jurisdiction over such Guarantor. Each Guarantor further
irrevocably consents to the service of process out of any of the aforementioned courts in any such
action or proceeding by the mailing of copies thereof by registered or certified mail, postage
prepaid, to each Guarantor at its address set forth opposite its signature below, such service to
become effective 30 days after such mailing. Each Guarantor hereby irrevocably waives any
objection to such service of process and further irrevocably waives and agrees not to plead or
claim in any action or proceeding commenced hereunder or under any other Credit Document to which
such Guarantor is a party that such service of process was in any way invalid or ineffective.
Nothing herein shall affect the right of any of the Secured Creditors to serve process in any
other manner permitted by law or to commence legal proceedings or otherwise proceed against each
Guarantor in any other jurisdiction.

          (b) Each Guarantor hereby irrevocably waives any objection which it may
now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings
arising out of or in connection with this Guaranty or any other Credit Document to which such
Guarantor is a party brought in the courts referred to in clause (a) above and hereby further
irrevocably waives and agrees not to plead or claim in any such court that such action or
proceeding brought in any such court has been brought in an inconvenient forum.

          (c) EACH GUARANTOR AND EACH SECURED CREDITOR (BY ITS
ACCEPTANCE OF THE BENEFITS OF THIS GUARANTY) HEREBY IRREVOCABLY
WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS GUARANTY, THE OTHER
CREDIT DOCUMENTS TO WHICH SUCH GUARANTOR IS A PARTY OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          22. In the event that all of the capital stock or other Equity Interests of one or
more Guarantors is sold or otherwise disposed of or liquidated in compliance with the require
ments of Section 9.02 of the Credit Agreement (or such sale, other disposition or liquidation
has
been approved in writing by the Required Lenders (or all Lenders if required by Section 13.12
of
the Credit Agreement)) and the proceeds of such sale, disposition or liquidation are applied
in
accordance with the provisions of the Credit Agreement, to the extent applicable, such
Guarantor
shall, upon consummation of such sale or other disposition (except to the extent that such
sale or
disposition is to Holdings or any of its Wholly-Owned Subsidiaries), be released from this
Guaranty and this Guaranty shall, as to each such Guarantor or Guarantors, terminate, and have
no further force or effect (it being understood and agreed that the sale of one or more
Persons
that own, directly or indirectly, all of the capital stock or other equity interests of any
Guarantor
shall be deemed to be a sale of such Guarantor for the purposes of this Section 22).

          23. Each Guarantor and each Secured Creditor (by its acceptance of the
benefits of this Guaranty) hereby confirms that it is its intention that this Guaranty not
constitute
a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform
Fraudulent Conveyance Act of any similar Federal or state law. To effectuate the foregoing

 

 

Page 14

intention, each Guarantor and each Secured Creditor (by its acceptance of the benefits of this
Guaranty) hereby irrevocably agrees that the Guaranteed Obligations guaranteed by such Guarantor
shall be limited to such amount as will, after giving effect to such maximum amount and all other
(contingent or otherwise) liabilities of such Guarantor that are relevant under such laws (it being
understood that it is the intention of the parties to this Guaranty and the parties to any guaranty
of the Existing Senior Notes that, to the maximum extent permitted under applicable laws, the
liabilities in respect of the guarantees of the Existing Senior Notes shall not be included for the
foregoing purposes and that, if any reduction is required to the amount guaranteed by any Guarantor
hereunder and with respect to the Existing Senior Notes that its guarantee of amounts owing in
respect of the Existing Senior Notes shall first be reduced) and after giving effect to any rights
to contribution pursuant to any agreement providing for an equitable contribution among such
Guarantor and the other Guarantors, result in the Guaranteed Obligations of such Guarantor in
respect of such maximum amount not constituting a fraudulent transfer or conveyance.
Notwithstanding the provisions of the two preceding sentences, as between the Secured Creditors and
the holders of the Existing Senior Notes, it is agreed (and the provisions of the relevant
indentures governing the Existing Senior Notes so provide) that any diminution (whether pursuant to
court decree or otherwise) of any Guarantor’s obligation to make any distribution or payment
pursuant to this Guaranty shall have no force or effect for purposes of the subordination
provisions contained in the respective indenture governing such Senior Notes, and that any payments
received in respect of a Guarantor’s obligations with respect to the Senior Notes shall be turned
over to the holders of the Guarantor Senior Debt (as defined in each indenture governing Senior
Notes) (or obligations which would have constituted Guarantor Senior Debt if same had not been
reduced or disallowed) of such Guarantor (which Guarantor Senior Debt shall be calculated as if
there were no diminution thereto pursuant to this Section 23 or for any other reason other than the
irrevocable payment in full in cash of the respective obligations which would otherwise have
constituted Guarantor Senior Debt) until all such Guarantor Senior Debt (or obligations which would
have constituted Guarantor Senior Debt if same had not been reduced or disallowed) has been
irrevocably paid in full in cash (and until all Commitments, Letters of Credit and Bank Guaranties
with respect thereto have been terminated).

          24. This Guaranty may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which when so executed and
delivered
shall be an original, but all of which shall together constitute one and the same instrument.
A set
of counterparts executed by all the parties hereto shall be lodged with Holdings and the
Administrative Agent.

          25. It is understood and agreed that any Domestic Subsidiary of the U.S.
Borrower that is required to become a party to this Guaranty after the date hereof pursuant to
the
requirements of the Credit Agreement shall become a Guarantor hereunder by (x) executing a
counterpart hereof and/or an assumption agreement, in each case in form and substance
reasonably satisfactory to the Administrative Agent, and (y) taking all actions as specified
in this
Guaranty as would have been taken by such Guarantor had it been an original party to this
Guaranty, in each case with all documents and actions required to be taken to be taken above
to
the reasonable satisfaction of the Administrative Agent.

 

 

Page 15

          26. (a) All payments made by any Guarantor hereunder will be made without
setoff, counterclaim or other defense, will be made in the relevant Applicable Currency in
which
the respective Guaranteed Obligations are owing (it being acknowledged and agreed that, on the
Restatement Effective Date, all amounts owing pursuant to the Credit Documents will be owing
in Dollars) and will be made on the same basis as payments are made by the Borrowers under
Sections 4.03 and 4.04 of the Credit Agreement and in accordance with the following provisions
of this Section 26.

          (b) The Guarantors obligations hereunder to make payments in the respective
Applicable Currency (such Applicable Currency being herein called the “Obligation Currency”)
shall not be discharged or satisfied by any tender or recovery pursuant to any judgment
expressed in or converted into any currency other than the Obligation Currency, except to the
extent that such tender or recovery results in the effective receipt by the Administrative
Agent,
the Collateral Agent or the respective other Secured Creditor of the full amount of the
Obligation
Currency expressed to be payable to the Administrative Agent, the Collateral Agent or such
other Secured Creditor under this Guaranty or the other Credit Documents or any Interest Rate
Protection Agreement or Other Hedging Agreement, as applicable. If for the purpose of obtaining or enforcing judgment against any Guarantor in any court or in any jurisdiction, it
becomes
necessary to convert into or from any currency other than the Obligation Currency (such other
currency being hereinafter referred to as the “Judgment Currency”) an amount due in the
Obligation Currency, the conversion shall be made, at the rate of exchange (as quoted by the
Administrative Agent or if the Administrative Agent does not quote a rate of exchange on such
currency, by a known dealer in such currency designated by the Administrative Agent)
determined, in each case, as of the date immediately preceding the day on which the judgment
is
given (such day being hereinafter referred to as the “Judgment Currency Conversion Date”).

          (c) If there is a change in the rate of exchange prevailing between the
Judgment Currency Conversion Date and the date of actual payment of the amount due, the
Guarantors jointly and severally covenant and agree to pay, or cause to be paid, such
additional
amounts, if any (but in any event not a lesser amount), as may be necessary to ensure that the
amount paid in the Judgment Currency, when converted at the rate of exchange prevailing on the
date of payment, will produce the amount of the Obligation Currency which could have been
purchased with the amount of Judgment Currency stipulated in the judgment or judicial award at
the rate of exchange prevailing on the Judgment Currency Conversion Date.

          (d) For purposes of determining the rate of exchange for this Section 26, such
amounts shall include any premium and costs payable in connection with the purchase of the
Obligation Currency.

          27. At any time a payment in respect of the Guaranteed Obligations is made
under this Guaranty, the right of contribution of each Guarantor against each other Guarantor
shall be determined as provided in the immediately following sentence, with the right of
contribution of each Guarantor to be revised and restated as of each date on which a payment
(a “Relevant Payment”) is made on the Guaranteed Obligations under this Guaranty. At any time
that a Relevant Payment is made by a Guarantor that results in the aggregate payments made by
such Guarantor in respect of the Guaranteed Obligations to and including the date of the
Relevant Payment exceeding such Guarantor’s Contribution Percentage (as defined below) of the

 

 

Page 16

aggregate payments made by all Guarantors in respect of the Guaranteed Obligations to and including
the date of the Relevant Payment (such excess, the “Aggregate Excess Amount”), each such Guarantor
shall have a right of contribution against each other Guarantor who has made payments in respect of
the Guaranteed Obligations to and including the date of the Relevant Payment in an aggregate amount
less than such other Guarantor’s Contribution Percentage of the aggregate payments made to and
including the date of the Relevant Payment by all Guarantors in respect of the Guaranteed
Obligations (the aggregate amount of such deficit, the “Aggregate Deficit Amount”) in an
amount equal to (x) a fraction the numerator of which is the Aggregate Excess Amount of such
Guarantor and the denominator of which is the Aggregate Excess Amount of all Guarantors multiplied
by (y) the Aggregate Deficit Amount of such other Guarantor. A Guarantor’s right of contribution
pursuant to the preceding sentences shall arise at the time of each computation, subject to
adjustment to the time of each computation; provided that no Guarantor may take any action
to enforce such right until the Guaranteed Obligations have been irrevocably paid in full in cash
and all Commitments, Letters of Credit and Bank Guaranties have terminated, it being expressly
recognized and agreed by all parties hereto that any Guarantor’s right of contribution arising
pursuant to this Section 27 against any other Guarantor shall be expressly junior and subordinate
to such other Guarantor’s obligations and liabilities in respect of the Guaranteed Obligations and
any other obligations owing under this Guaranty. As used in this Section 27: (i) each Guarantor’s
“Contribution Percentage” shall mean the percentage obtained by dividing (x) the Adjusted Net Worth
(as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors;
(ii) the “Adjusted Net Worth” of each Guarantor shall mean the greater of (x) the Net Worth (as
defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall
mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any
Relevant Payment exceeds its existing debts and other liabilities (including contingent
liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or
any guaranteed obligations arising under any guaranty of the Senior Notes) on such date. All
parties hereto recognize and agree that, except for any right of contribution arising pursuant to
this Section 27, each Guarantor who makes any payment in respect of the Guaranteed Obligations
shall have no right of contribution or subrogation against any other Guarantor in respect of such
payment until all of the Guaranteed Obligations have been irrevocably paid in full in cash. Each of
the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall
constitute an asset in favor of the party entitled to such contribution. In this connection, each
Guarantor has the right to waive its contribution right against any Guarantor to the extent that
after giving effect to such waiver such Guarantor would remain solvent, in the determination of the
Required Lenders. Notwithstanding anything to the contrary contained above in this Section 27, (i)
any Guarantor which is a Bermuda Partnership Partner shall not be entitled to the contribution
rights provided in this Section 27 and (ii) each reference to a Guarantor in this Section 27 (and
only this Section 27) shall be deemed to mean each Guarantor other than a Bermuda Partnership
Partner.

          28. Notwithstanding anything herein or in the other Credit Documents to the contrary, this
Guaranty is, and the rights and remedies of each Guarantor are, subject to the provisions of the
Intercreditor Agreement (to the extent applicable). IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS
OF THE INTERCREDITOR AGREEMENT AND THIS GUARANTY, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL
GOVERN AND CONTROL AT ANY TIME THE INTERCREDITOR AGREEMENT IS IN EFFECT.

 

 

Page 17

* * *

 

 

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

	 	 	 	 	 	 	 
	 	 	[                                        ],
	 

	 	 	 	as a Guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[signature pages to be updated]

 

 

Accepted and Agreed to:

DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent for the Lenders

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	 

Title:
	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	 

 Title:
	 	 

 

 

EXHIBIT G-2

FORM OF FOREIGN SUBSIDIARIES GUARANTY,

SPECIAL COLOMBIAN PUT NOTE AGREEMENT

AND FOREIGN SECURITY DOCUMENTS

ACKNOWLEDGMENT AND AMENDMENT

April 12, 2006

To the Administrative Agent and each of 

the Lenders party to the Credit Agreement

referred to below

Re:     Amended and Restated Credit Agreement

Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005, and further amended and restated as of April 12, 2006 (as amended,
modified, restated and/or supplemented from time to time, the “Credit Agreement”), among DHM
Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding Company, LLC, a Delaware
limited liability company (“Intermediate Holdco”), Dole Food Company, Inc., a Delaware corporation
(the “U.S. Borrower”), Solvest, Ltd., a company organized under the laws of Bermuda (the
“Bermuda Borrower” and, together with the U.S. Borrower, the “Borrowers”), the lenders from
time to time party thereto (the “Lenders”), Deutsche Bank AG, New York Branch (in its individual
capacity, “DBAG”), as Deposit Bank (in such capacity, together with any successor deposit bank, the
“Deposit Bank”) DBAG, as Administrative Agent (in such capacity, together with any successor agent,
the “Administrative Agent”), Banc of America Securities LLC, as Syndication Agent (in such
capacity, together with any successor agent, the “Syndication Agent”), The Bank of Nova Scotia, as
Documentation Agent (in such capacity, together with any successor agent, the “Documentation
Agent”), and Deutsche Bank Securities Inc., as Lead Arranger and Sole Book Runner (in such
capacity, the “Lead Arranger”). Unless otherwise indicated herein, capitalized terms used but not
defined herein shall have the respective meanings set forth in the Credit Agreement. This Foreign
Subsidiaries Guaranty, Special Colombian Put Note Agreement and Foreign Security Documents
Acknowledgment and Amendment shall hereinafter be referred to as the “Acknowledgment and Amendment”.

	I.	 	Foreign Subsidiaries Guaranty and Special Colombian Put Note Agreement Acknowledgement.

     1. Each of the undersigned Foreign Subsidiary Guarantors hereby acknowledges (x) the Credit
Agreement and each other Credit Documents and the transactions contemplated thereby (including,
without limitation, the extensions of credit contemplated therein) and (y) copies (or originals)
of the Credit Documents and all opinions, instruments, certificates and all other documents
delivered in connection therewith, as in effect on the Restatement Effective Date, have been
furnished or otherwise been provided (or made available) to a senior financial officer of such
Foreign Subsidiary Guarantor.

 

Page 2

     2. Each of the undersigned Foreign Subsidiary Guarantors (other than the
undersigned Colombian Subsidiary Guarantors) hereby acknowledges and agrees, and represents
and warrants, that on and after the occurrence of, and after giving effect to, the Restatement
Effective Date and any increase in the amounts owing to the Lenders, Issuing Lender, Bank
Guaranty Issuer and/or any Agent under the Credit Agreement on or after the Restatement Effective Date, (i) it constitutes a Foreign Subsidiary of the U.S. Borrower which is a party
to the Foreign Subsidiaries Guaranty, dated as of March 28, 2003, made by the Foreign Subsidiaries of
Holdings party thereto in favor of the Administrative Agent, as the same may be amended,
restated, modified and/or supplemented from time to time in accordance with the terms thereof (including, without limitation, the amendment thereof as provided in Section II below), and
shall include any counterpart thereof and any other similar guaranty executed and delivered by any
Foreign Subsidiary of Holdings pursuant to Sections 8.11 or 9.11 of the Credit Agreement, (ii)
the Foreign Subsidiaries Guaranty (both immediately before and after giving effect to the
amendment thereof as provided in Section II below) shall remain in full force and effect with respect to such Foreign Subsidiary Guarantor, and (iii) the Credit Agreement and the
Obligations of the Bermuda Borrower under the Credit Agreement shall constitute the “Credit Agreement” and the “Credit Document Obligations”, respectively, in each case, under and as defined in,
the Foreign Subsidiaries Guaranty and shall continue to be entitled to the benefits of the Foreign Subsidiaries Guaranty (both immediately before and after giving effect to the amendment
thereof as provided in Section II below).

     3. Each of the undersigned Colombian Subsidiary Guarantors hereby acknowledges and agrees, and represents and warrants, that on and after the occurrence of, and
after giving effect to, the Restatement Effective Date and any increase in the amounts owing to the Lenders, Issuing Lenders, Bank Guaranty Issuers and/or any Agent under the Credit
Agreement on or after the Restatement Effective Date, (i) it constitutes a Foreign Subsidiary of the U.S. Borrower which is a party to the Special Colombian Put Note Agreement, dated as of
April 30, 2003, made by the Foreign Subsidiaries of Holdings party thereto in favor of the Administrative Agent, as the same may be amended, restated, modified and/or supplemented
from time to time in accordance with the terms thereof (the “Special Columbian Put Note Agreement”), and shall include any counterpart thereof and any other similar guaranty executed
and delivered by any Foreign Subsidiary of Holdings pursuant to Sections 8.11 or 9.11, (ii) the Special Columbian Put Note Agreement shall remain in full force and effect with respect to
such Foreign Subsidiary Guarantor, and (iii) the Credit Agreement shall constitute the “Credit Agreement”, under and as defined in, the Special Columbian Put Note Agreement and the
obligations of the Bermuda Borrower under the Credit Agreement shall continue to be entitled to the benefits of the Special Columbian Put Note Agreement.

     4. Each Foreign Subsidiary Guarantor organized under the laws of Turkey acknowledges that (i) all the Liens it has granted in favor of the Collateral Agent
(including, without limitation, the mortgage and the commercial enterprise pledge) continue in full force
and effect and secure its obligations under the Foreign Subsidiaries Guaranty (both immediately before and after giving effect to the amendment thereof as provided in Section II below) and
(ii) the amendment and restatement to the Credit Agreement is not a novation of the debt thereunder.

     5. Each of the undersigned Foreign Subsidiary Guarantors (other than the
undersigned Colombian Subsidiary Guarantors) hereby makes each of the representations and

 

Page 3

warranties contained in Section 13 of the Foreign Subsidiaries Guaranty (both immediately before
and after giving effect to the amendment thereof as provided in Section II below) on the
Restatement Effective Date, both before and after giving effect to this Acknowledgement and
Amendment.

     6. Each of the undersigned Colombian Subsidiary Guarantors hereby makes each of the
representations and warranties contained in Article III of the Special Columbian Put Note
Agreement on the Restatement Effective Date, both before and after giving effect to this
Acknowledgement and Amendment.

	II.	 	Amendment to Foreign Subsidiaries Guaranty.

     1. The Administrative Agent (for and on behalf, and at the direction, of the Required Lenders
in accordance with Section 13.24 of the Credit Agreement and the Foreign Subsidiaries Guaranty)
and each of the undersigned Foreign Subsidiary Guarantors hereby amends the Foreign Subsidiaries
Guaranty by (i) deleting the second recital to the Foreign Subsidiaries Guaranty in its entirety
and (ii) inserting the following second recital in lieu thereof:

     “WHEREAS, the Bermuda Borrower and/or one or more of its
Subsidiaries may at any time and from time to time enter into one or
more Interest Rate Protection Agreements or Hedging Agreements with
one or more Secured Hedge Counterparties (collectively, the ׁHedging
Creditors,” and together with the Lender Creditors, are herein
called the “Secured Creditors”);”

	III.	 	Amendments to Foreign Security Documents

     1. The Administrative Agent (for and on behalf, and at the direction, of the Required Lenders
in accordance with Section 13.24 of the Credit Agreement and the Foreign Subsidiaries Guaranty) and
each of the undersigned Foreign Subsidiary Guarantors hereby amends each Foreign Security Document
(to the maximum extent permitted under applicable law) to which such Foreign Subsidiary Guarantor
is a party as follows:

	 	(a)	 	to the extent that such Foreign Security Document includes
counterparties of Interest Rate Protection Agreements or Other Hedging Agreements (or
their equivalents) entered into with the U.S. Borrower or any of its
Subsidiaries as secured creditors thereunder (the “Counterparty Secured Creditors”), such Counterparty Secured Creditors under such Foreign
Security Document shall be amended to include all Secured Hedge
Counterparties; and
	 
	 	(b)	 	without limiting the foregoing in immediately preceding clause
(a), to the extent that such Foreign Security Document defines such Counterparty
Secured Creditors as “Hedging Creditors” or “Other Creditors” (or an
equivalent term), such defined term shall be amended to include all Secured Hedge Counterparties.

 

Page 4

	IV.	 	Miscellaneous.

     1. (a) THIS ACKNOWLEDGEMENT AND AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK. Any legal action or proceeding with respect to this
Acknowledgment and Amendment may be brought in the courts of the State of New York or of the United
States of America for the Southern District of New York, in each case located within the City of
New York, and, by execution and delivery of this Acknowledgment and Amendment, each Foreign
Subsidiary Guarantor hereby irrevocably accepts for itself and in respect of its property,
generally and unconditionally, the jurisdiction of the aforesaid courts. Each Foreign Subsidiary
Guarantor hereby irrevocably designates, appoints and empowers Corporation Service Company, with
offices on the date hereof at 80 State Street, Albany, NY 12207, as its designee, appointee and
agent to receive, accept and acknowledge for and on its behalf, and in respect of its property,
service of any and all legal process, summons, notices and documents which may be served in any
such action or proceeding. If for any reason such designee, appointee and agent shall cease to be
available to act as such, each Foreign Subsidiary Guarantor agrees to designate a new designee,
appointee and agent in New York City on the terms and for the purposes of this provision reasonably
satisfactory to the Administrative Agent under the Credit Agreement. Each Foreign Subsidiary
Guarantor hereby further irrevocably waives any claim that any such courts lack jurisdiction over
such Foreign Subsidiary Guarantor, and agrees not to plead or claim, in any legal action or
proceeding with respect to this Acknowledgment and Amendment brought in any of the aforesaid
courts, that any such court lacks jurisdiction over such Foreign Subsidiary Guarantor. Each Foreign
Subsidiary Guarantor further irrevocably consents to the service of process out of any of the
aforementioned courts in any such action or proceeding by the mailing of copies thereof by
registered or certified mail, postage prepaid, to each Foreign Subsidiary Guarantor at its address
set forth opposite its signature below, such service to become effective 30 days after such
mailing. Each Foreign Subsidiary Guarantor hereby irrevocably waives any objection to such service
of process and further irrevocably waives and agrees not to plead or claim in any action or
proceeding commenced hereunder that such service of process was in any way invalid or ineffective.
Nothing herein shall affect the right of any Secured Creditor to serve process in any other manner
permitted by law or to commence legal proceedings or otherwise proceed against any Foreign
Subsidiary Guarantor in any other jurisdiction.

     (b) Each Foreign Subsidiary Guarantor hereby irrevocably waives any objection which it may now
or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out
of or in connection with this Acknowledgment and Amendment brought in the courts referred to in
clause (a) above and hereby further irrevocably waives and agrees not to plead or claim in any such
court that any such action or proceeding brought in any such court has been brought in an
inconvenient forum, or that the choice of law provisions are invalid or unenforceable and agrees
not to plead or claim before any authority or court, including the courts of its state of
incorporation or formation, that any judgment issued by the courts referred to in clause (a) above
is contrary to public policy (except, with respect to any Japanese Guarantor, to the extent that
the terms of such judgment issued by the courts referred to in clause (a) above and its formation
process are deemed, in accordance with the provisions of Article 118 of the Code of Civil
Procedures (Law No. 109 of 1996), as contrary to the public order or good morals of Japan).

 

Page 5

     (c) EACH FOREIGN SUBSIDIARY GUARANTOR AND EACH SECURED CREDITOR (BY ITS ACCEPTANCE OF THE BENEFITS OF THIS
ACKNOWLEDGMENT AND AMENDMENT) HEREBY IRREVOCABLY WAIVES ALL
RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS ACKNOWLEDGMENT AND AMENDMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     (d) NOTWITHSTANDING ANYTHING IN THIS ACKNOWLEDGMENT
AND AGREEMENT TO THE CONTRARY, AND WITH RESPECT ONLY TO THE COLOMBIAN GUARANTORS, IN THE EVENT THE ADMINISTRATIVE AGENT OR
ANY OF THE SECURED CREDITORS ELECTS TO ENFORCE THIS ACKNOWLEDGMENT AGAINST ANY COLOMBIAN GUARANTOR IN A COLOMBIAN
COURT AS PROVIDED BELOW, THE GUARANTEE OF THE COLOMBIAN GUARANTORS PURSUANT TO THIS ACKNOWLEDGMENT AND AMENDMENT AND
THE RIGHTS OF THE SECURED CREDITORS AS AGAINST THE COLOMBIAN GUARANTORS SHALL BE (AND SHALL BE DEEMED TO BE) GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF COLOMBIA. Any legal action or proceeding with respect to a Colombian Guarantor in connection with this Acknowledgment and
Amendment may be brought in the competent courts of Colombia.

     2. This Acknowledgment and Amendment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which when so executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
set of counterparts executed by all the parties hereto shall be lodged with Holdings and the
Administrative Agent.

* * *

 

 

     [IN WITNESS WHEREOF, the parties hereto (other than with respect to the Guarantors organized
under the laws of the Hong Kong Special Administrative Region of the People’s Republic of China
(the “HK Guarantors”)) have caused this Acknowledgement and Amendment to be executed and delivered
by their duly authorized officers as of the date first above written.]

     [IN WITNESS WHEREOF, this Acknowledgement and Amendment has been signed, sealed and delivered
by the duly authorized officers of the HK Guarantors and has been signed on behalf of the
Collateral Agent as of the date first above written.]

	 	 	 	 	 
	 	AGOURA LIMITED, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ASHFORD COMPANY, LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BALTIME LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 7

	 	 	 	 	 
	 	CAMARILLO, LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE ASIA, LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE INTERNATIONAL, LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE NEW ZEALAND LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 8

	 	 	 	 	 
	 	INTERFRUIT COMPANY LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MAHELE, LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MENDOCINO LIMITED, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	REFERSHIP MARINE SERVICES, LTD.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 9

	 	 	 	 	 
	 	FLORAMERICA INVESTMENTS LTD.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SOLAMERICA, LTD.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT COMPANY (BERMUDA) LTD.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FOODS OF CANADA LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA CALIFORNIA LIMITADA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 10

	 	 	 	 	 
	 	AGRICOLA PENCAHUE LIMITADA, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA PUNITAQUI LIMITADA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA RAUQUEN LIMITADA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CARTONES SAN FERNANDO S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE CHILE S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	EMBALAJES STANDARD S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 11

	 	 	 	 	 
	 	INVERSIONES DEL PACIFICO S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA EUFEMIA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROPECUARIA SAN GABRIEL LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROPECUARIA SAN PEDRO LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA EXPORT ADORA DE PRODUCTOS 

     AGRICOLAS S.C.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 12

	 	 	 	 	 
	 	INVERSIONES ORIHUECA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS TECNICOS BANANEROS LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. AGRICOLA EL CASTILLO LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. AGRICOLA GUACARI LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AMERICAFLOR LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. COLOMBIAN CARNATIONS LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 13

	 	 	 	 	 
	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. CULTIVOS DEL CARIBE LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. CULTIVOS SAN NICOLAS LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORAMERICA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES ALTAMIRA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES DE EXPORTACION LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 14

	 	 	 	 	 
	 	C.I. FLORES LA FRAGANCIA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES LAS PALMAS LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES PRIMAVERA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORES SAN JOAQUIN LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. JARDINES DE COLOMBIA LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. JARDINES DEL VALLE LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 15

	 	 	 	 	 
	 	C.I. OLYMPIA FLOWERS LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. PORCELAIN FLOWERS LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. SANTA MONICA FLOWERS LTDA.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. SPLENDOR FLOWERS LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TENICAS BALTIME DE COLOMBIA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AERO-FUMIGACION CENTROAMERICANA S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 16

	 	 	 	 	 
	 	AGROINDUSTRIAL PINAS DEL BOSQUE S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROPECUARIA RIO JIMENEZ S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALMACENES ATALANTA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALPPHA SIDERAL S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANERA EL PORVENIR S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANERA LA PAZ, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 17

	 	 	 	 	 
	 	COMPANIA BANANERA DEB A S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA BANANERA DEL SAN RAFAEL S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA BANANERA EL ENCANTO S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA FINANCIERA DE COSTA RICA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA FRUTOS DE LA TIERRA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERCIALIZADORA E IMPORTADORA VINA DEL

     MAR S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 18

	 	 	 	 	 
	 	DESARROLLO BANANERO LA ESPERANZA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DESARROLLO MELONERO DEL GOLFO, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DIVERSIFICADOS DE COSTA RICA DICORI, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HACIENDA LA ROSALIA S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA PERLA S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ROXANA FARMS S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 19

	 	 	 	 	 
	 	SERVICIOS ADUANALES BANADOLE, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT COMPANY DE COSTA RICA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE SHARED SERVICES LIMITADA, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA), 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANACORP S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANCUBER S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 20

	 	 	 	 	 
	 	COMPANIA NAVIERA AGMARESA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRIOCONT S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRUTBAN S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRANELCONT S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GUAYAMI S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MEGABANANA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 21

	 	 	 	 	 
	 	MODUMOLL S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NAPORTEC S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRODUCTOS DEL LITORAL S.A. (PROLISA),

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	REDAMAWAL S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SIEMBRANUEVA S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORES MITAD DEL MUNDO LTDA., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 22

	 	 	 	 	 
	 	TALLAN, TALLERES Y LLANTAS S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TECNIELEC TECNICOS Y ELECTRICITAS S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PORMAR TRANSPORTES POR MAR S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	UBESAIR, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	UNION DE BANANEROS ECUATORIANOS, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ZANPOTI, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 23

	 	 	 	 	 
	 	TINADI S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROVERDE S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A. (SAPICA),

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BETINO S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PEMATIN S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PESCASEROLI S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 24

	 	 	 	 	 
	 	DOLE DEUTSCHLAND 

     BETEILIGUNGSGESELLSCHAFT MBH, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE DEUTSCHLAND GMBH,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT EUROPE OHG,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PAUL KEMPOWSKI GMBH & CO. KG, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROINDUSTRIA DEL CARIBE, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROINDUSTRIAL ALMA VERDE, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 25

	 	 	 	 	 
	 	BANANERA RIO MAME, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BIENES Y VALORES, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGRICOLA EL PROGRESO, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGRICOLA INDUSTRIAL CEIBENA, SA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGRICOLA MAZAPAN, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGROPECUARIA EL PORVENIR, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 26

	 	 	 	 	 
	 	CLINICAS MEDICAS DEL AGUAN, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COORDINADORA DE SERVICIOS DE
TRANSPORTE, SA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DESARROLLOS URBANOS LA CEIBA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ENERGUA S.A. SUCURSAL HONDURAS, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	EQUIPO PESADO S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 27

	 	 	 	 	 
	 	FABRICA DE MANTECA & JABON ATLANTIDA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HOSPITAL COYOLES, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CIA. INVERSIONES MEDICAS NACIONALES S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES Y VALORES DE MONTECRISTO, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LABORATORIOS Y SERVICIOS DE MERISTEMOS, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MULTISERVICIOS, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 28

	 	 	 	 	 
	 	PINA ANTILLANA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PLASTICOS, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRODUCTORA AGRICOLA DE ATLANTIDA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS E INVESTIGACIONES AEREAS, SA,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS HONDURENOS DE AGRICULTURA Y 

     RECURSOS DE INVESTIGACION PINERA, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SOGAS, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 29

	 	 	 	 	 
	 	STANDARD FRUIT DE HONDURAS, S.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VIGILANCIA Y SEGIRIDAD, S.A., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CASTLE & COOKE WORLDWIDE LIMITED, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE CHINA LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE HONG KONG LIMITED, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 30

	 	 	 	 	 
	 	DOLE ITALIA S.P.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRATELLI ISELLA S.r.l.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA FIORITA S.r.l., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MAGAZZINI FRIGORIFERI SANTA PALOMBA S.P.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TROPICAL SHIPPING ITALIANA, T.S.I. S.P.A.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	KABUSHIKI KAISHA DOLE, 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 31

	 	 	 	 	 
	 	DOLE FRESH FRUIT INTERNATIONAL LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE PHILIPPINES, INC.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT MED GIDA URUNLERI 

     TICARET VE A.S.,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ARAUCARIA LIMITED,

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VENTURA TRADING LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FOREIGN HOLDINGS II LTD., 

     as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 32

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Address:

60 Wall Street

New York, NY 10005
	 	DEUTSCHE BANK AG NEW YORK BRANCH,

     as Administrative Agent for the Lenders	 	 

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT G-3

[COMPOSITE COPY (INCORPORATING THE

FIRST AMENDMENT DATED AS OF MAY 29, 2003)

CONFORMED AS EXECUTED]1

FOREIGN SUBSIDIARIES GUARANTY

          GUARANTY, dated as of March 28, 2003 (as amended, modified, restated and/or supplemented from
time to time, this “Guaranty”), made by each of the undersigned guarantors (each, a “Guarantor”
and, together with any other entity that becomes a guarantor hereunder pursuant to Section 25
hereof, the “Guarantors”). Except as otherwise defined herein, all capitalized terms used herein
and defined in the Credit Agreement (as defined below) shall be used herein as therein defined.

W I T N E S S E T H:

          WHEREAS, DHM Holding Company, Inc. (“Holdings”), Dole Food Company, Inc. (the “U.S.
Borrower”), Solvest, Ltd. (the “Bermuda Borrower”, and together with the U.S. Borrower, the
“Borrowers”), various financial institutions from time to time party thereto (the “Lenders”),
Deutsche Bank AG New York Branch, as Administrative Agent (in such capacity, together with any
successor agent, the “Administrative Agent”). The Bank of Nova Scotia and Banc of America
Securities LLC, as Co-Syndication Agents (in such capacity, together with any successor agent, the
“Co-Syndication Agents”), Fleet National Bank and Societe Generale, as Co-Documentation Agents (in
such capacity, together with any successor agent, the “Co-Documentation Agents”), and Deutsche
Bank Securities Inc., The Bank of Nova Scotia and Banc of America Securities LLC, as Joint Lead
Arrangers and Book Running Managers (in such capacity, the “Joint Lead Arrangers”), have entered
into a Credit Agreement, dated as of March 28, 2003 (as amended, modified, restated and/or
supplemented from time to time, the “Credit Agreement”), providing, for the making of certain
Loans to the Bermuda Borrower and the issuance of, and participation in, Letters of Credit and
Bank Guaranties for the account of the Bermuda Borrower, all as contemplated therein (the Lenders,
the Administrative Agent, the Co-Syndication Agents, the Co-Documentation Agents, each Joint Lead
Arranger, the Collateral Agent, each Issuing Lender and each Bank Guaranty Issuer are herein
called the “Lender Creditors”);

          WHEREAS, the Bermuda Borrower and/or one or more of its Subsidiaries may at any time and from
time to time enter into one or more Interest Rate Protection Agreements or Other Hedging Agreements
with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the
respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason,
together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the
“Hedging Creditors,” and together with the Lender Creditors, are herein called the “Secured
Creditors”);

          WHEREAS, each Guarantor is a direct or indirect Wholly-Owned Foreign Subsidiary of Holdings;

          WHEREAS, it is a condition precedent to the making of Loans to the Bermuda Borrower, the
issuance of, and participation in, Letters of Credit and Bank Guaranties for the

 

			
	1	 	This composite copy is to be used for reference purposes only; the definitive
agreements with respect to the Foreign Subsidiaries Guaranty are set forth in the
originally executed Foreign Subsidiaries Guaranty and the First Amendment thereto.

 

 

Page 2

account of the Bermuda Borrower under the Credit Agreement and to the Hedging Creditors entering
into Interest Rate Protection Agreements and Other Hedging Agreements that each Guarantor shall
have executed and delivered this Guaranty; and

          WHEREAS, each Guarantor will obtain benefits from the incurrence of Loans by the Bermuda
Borrower and the issuance of, and participation in, Letters of Credit and Bank Guaranties for the
account of the Bermuda Borrower under the Credit Agreement and the entering into by the Bermuda
Borrower and/or one or more of its Subsidiaries of Interest Rate Protection Agreements or Other
Hedging Agreements and, accordingly, desires to execute this Guaranty in order to satisfy the
condition described in the preceding paragraph and to induce the Lenders to make certain Loans to
the Bermuda Borrower and issue, and/or participate in, Letters of Credit and Bank Guaranties for
the account of the Bermuda Borrower and the Hedging Creditors to enter into Interest Rate
Protection Agreements or Other Hedging Agreements with the Bermuda Borrower and/or one or more of
its Subsidiaries;

          NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each
Guarantor, the receipt and sufficiency of which are hereby acknowledged, each Guarantor hereby
makes the following representations and warranties to the Secured Creditors and hereby covenants
and agrees with each Secured Creditor as follows:

          1. Each Guarantor, jointly and severally, irrevocably, absolutely and unconditionally
guarantees as a primary obligor and not merely as surety: (i) to the Lender Creditors the full and
prompt payment when due (whether at the stated maturity, by acceleration or otherwise) of (x) the
principal of, premium, if any, and interest on the Notes issued by, and the Loans made to, the
Bermuda Borrower under the Credit Agreement, all reimbursement obligations and Unpaid Drawings
with respect to Letters of Credit issued for the account of the Bermuda Borrower and all
reimbursement obligations and Unreimbursed Payments with respect to Bank Guaranties issued for the
account of the Bermuda Borrower and (y) all other obligations, liabilities and indebtedness owing
by the Bermuda Borrower to the Lender Creditors under the Credit Agreement and each other Credit
Document to which the Bermuda Borrower is a party (including, without limitation, indemnities,
Fees and interest thereon (including any interest accruing after the commencement of any
bankruptcy, insolvency, receivership or similar proceeding at the rate provided for in the Credit
Agreement, whether or not such interest is an allowed claim in any such proceeding)), whether now
existing or hereafter incurred under, arising out of or in connection with the Credit Agreement
and any such other Credit Document and the due performance and compliance by the Bermuda Borrower
with all of the terms, conditions and agreements contained in all such Credit Documents (all such
principal, premium, interest, liabilities, indebtedness and obligations under this clause (i),
except to the extent consisting of obligations or liabilities with respect to Interest Rate
Protection Agreements or Other Hedging Agreements, being herein collectively called the
“Credit Document Obligations”); and (ii) to each Hedging Creditor the full and prompt
payment when due (whether at the stated maturity, by acceleration or otherwise) of all
obligations, liabilities and indebtedness (including any interest accruing after the commencement
of any bankruptcy, insolvency, receivership or similar proceeding at the rate provided for in the
respective Interest Rate Protection Agreements or Other Hedging Agreements, whether or not such
interest is an allowed claim in any such proceeding) owing by the Bermuda Borrower and each other
Guaranteed Party

 

 

Page 3

under any Interest Rate Protection Agreement or Other Hedging Agreement, whether now in existence
or hereafter arising, and the due performance and compliance by the Bermuda Borrower and each
other Guaranteed Party with all terms, conditions and agreements contained therein (all such
obligations, liabilities and indebtedness being herein collectively called the “Hedging
Obligations”, and together with the Credit Document Obligations are herein collectively called
the “Guaranteed Obligations”). As used herein, the term “Guaranteed Party” shall mean the
Bermuda Borrower and each Subsidiary of the Bermuda Borrower party to any Interest Rate Protection
Agreement or Other Hedging Agreement with a Hedging Creditor. Each Guarantor understands, agrees
and confirms that, subject to the relevant provisions of Section 23 hereof, the Secured Creditors
may enforce this Guaranty up to the full amount of the Guaranteed Obligations against such
Guarantor without proceeding against any other Guarantor, the Bermuda Borrower or any other
Guaranteed Party, or against any security for the Guaranteed Obligations, or under any other
guaranty covering all or a portion of the Guaranteed Obligations.

          2. Additionally, each Guarantor, jointly and severally, unconditionally,absolutely and
irrevocably, guarantees the payment of any and all Guaranteed Obligations whether or not due or
payable by the Bermuda Borrower or any other Guaranteed Party upon the occurrence in respect of the
Bermuda Borrower or any such other Guaranteed Party of any of the events specified in Section 10.05
of the Credit Agreement, and unconditionally, absolutely and irrevocably, jointly and severally,
promises to pay such Guaranteed Obligations to the Secured Creditors, or order, on demand. This
Guaranty shall constitute a guaranty of payment, and not of collection.

          3. Furthermore, each Guarantor, jointly and severally, unconditionally, absolutely and
irrevocably guarantees that in the event local exchange or other applicable regulations make it
impossible or threaten the effectiveness of this Guaranty, and/or, in the reasonable opinion of the
Collateral Agent, cause its execution to have a Material Adverse Effect, such Guarantor shall carry
out and/or cause to carry out all steps required by the Collateral Agent so as to produce a
substantially equally secure instrument or guarantee, including the execution of any required
agreements and/or documents, reasonably acceptable to the Collateral Agent. In the event the
affected Guarantor does not carry out the above-described steps, such Guarantor shall bear any and
all applicable taxes, costs and sanctions that may be applicable, including the payment of any
withholding or remittance taxes, and shall make any payments hereunder net of any such
withholdings. In the above circumstance, the affected Guarantor shall hold the Collateral Agent
harmless against any action taken against it other than such arising from its gross negligence or
willful misconduct.

          4. The liability of each Guarantor hereunder is primary, absolute, joint and several, and
unconditional and is exclusive and independent of any security for or other guaranty of the
Guaranteed Obligations of the Bermuda Borrower or any other Guaranteed Party whether executed by
such Guarantor, any other Guarantor, any other guarantor or by any other party, and the liability
of each Guarantor hereunder shall not be affected or impaired by any circumstance or occurrence
whatsoever, including, without limitation (a) any direction as to application of payment by the
Bermuda Borrower or any other Guaranteed Party or by any other party, (b) any other continuing or
other guaranty, undertaking or maximum liability of a Guarantor or of any other party as to the
Guaranteed Obligations, (c) any payment on or in reduction of any such other guaranty or
undertaking, (d) any dissolution, termination or increase, decrease or change in

 

 

Page 4

personnel by the Bermuda Borrower or any other Guaranteed Party, (e) any payment made to any
Secured Creditor on the Guaranteed Obligations which any Secured Creditor repays the Bermuda
Borrower or any other Guaranteed Party pursuant to court order in any bankruptcy, reorganization,
arrangement, moratorium or other debtor relief proceeding, and each Guarantor waives any right to
the deferral or modification of its obligations hereunder by reason
of any such proceeding, (f)
any action or inaction by the Secured Creditors as contemplated in Section 7 hereof or (g) any
invalidity, irregularity or unenforceability of all or any part of the Guaranteed Obligations or
of any security therefor.

          5. The obligations of each Guarantor hereunder are independent of the obligations of any
other Guarantor, any other guarantor, the Bermuda Borrower or any other Guaranteed Party, and a
separate action or actions may be brought and prosecuted against each Guarantor whether or not
action is brought against any other Guarantor, any other guarantor, the Bermuda Borrower or any
other Guaranteed Party and whether or not any other Guarantor, any other guarantor, the Bermuda
Borrower or any other Guaranteed Party be joined in any such action or actions. Each Guarantor
waives, to the fullest extent permitted by law, the benefits of any statute of limitations
affecting its liability hereunder or the enforcement thereof. Any payment by the Bermuda
Borrower or any other Guaranteed Party or other circumstance which operates to toll any statute of
limitations as to the Bermuda Borrower or such other Guaranteed Party shall operate to toll the
statute of limitations as to each Guarantor.

          6. Each Guarantor hereby waives (to the fullest extent permitted by applicable law)
notice of acceptance of this Guaranty and notice of any liability to which it may apply, and
waives promptness, diligence, presentment, demand of payment, protest, notice of dishonor or
nonpayment of any such liabilities, suit or taking of other action by the Administrative Agent or
any other Secured Creditor against, and any other notice to, any party liable thereon (including
such Guarantor, any other Guarantor, any other guarantor, the Bermuda Borrower or any other
Guaranteed Party).

          7. Any Secured Creditor may (except as shall be required by applicable statute and cannot be
waived) at any time and from time to time without the consent of, or notice to, any Guarantor,
without incurring responsibility to such Guarantor, without impairing or releasing the obligations
of such Guarantor hereunder, upon or without any terms or conditions and in whole or in part:

     (a) change the manner, place or terms of payment of, and/or change, increase or extend
the time of payment of, renew, increase, accelerate or alter, any of the Guaranteed
Obligations (including any increase or decrease in the rate of interest thereon or the
principal amount thereof), any security therefor, or any liability incurred directly or
indirectly in respect thereof, and the guaranty herein made shall apply to the Guaranteed
Obligations as so changed, extended, renewed or altered;

     (b) take and hold security for the payment of the Guaranteed Obligations (other than
security pledged by a Colombian Guarantor (as defined below) or any Guarantor organized
under the laws of Ecuador (collectively, the “Ecuadorian Guarantors”))
and sell, exchange, release, surrender, impair, realize upon or otherwise deal with in any
manner and in any order any property (other than property located in

 

 

Page 5

Colombia or Ecuador) by whomsoever at any time pledged or mortgaged to secure, or howsoever
securing, the Guaranteed Obligations or any liabilities (including any of those hereunder)
incurred directly or indirectly in respect thereof or hereof, and/or any offset
thereagainst, provided such security not be located within Colombia or Ecuador;

     (c) exercise or refrain from exercising any rights against the Bermuda Borrower, any
other Guaranteed Party, any other Credit Party, any Subsidiary thereof, any other guarantor
of the Bermuda Borrower or any other Guaranteed Party or others or otherwise act or refrain
from acting;

     (d) settle or compromise any of the Guaranteed Obligations, any security therefor or
any liability (including any of those hereunder) incurred directly or indirectly in respect
thereof or hereof, and may subordinate the payment of all or any part thereof to the
payment of any liability (whether due or not) of the Bermuda Borrower or any other
Guaranteed Party to creditors of the Bermuda Borrower or such other Guaranteed Party other
than the Secured Creditors;

     (e) apply any sums by whomsoever paid or howsoever realized to any liability or
liabilities of the Bermuda Borrower or any other Guaranteed Party to the Secured Creditors
regardless of what liabilities of the Bermuda Borrower or such other Guaranteed Party
remain unpaid;

     (f) consent to or waive any breach of, or any act, omission or default under, any of
the Interest Rate Protection Agreements or Other Hedging Agreements, the Credit Documents
or any of the instruments or agreements referred to therein, or otherwise amend, modify or
supplement any of the Interest Rate Protection Agreements or Other Hedging Agreements, the
Credit Documents or any of such other instruments or agreements;

     (g) act or fail to act in any manner which may deprive such Guarantor of its right to
subrogation against the Bermuda Borrower or any other Guaranteed Party to recover full
indemnity for any payments made pursuant to this Guaranty;

     (h) release or substitute any one or more endorsers, Guarantors, other guarantors, the
Bermuda Borrower, any other Guaranteed Party or other obligors; and/or

     (i) take any other action which would, under otherwise applicable principles of common
law, give rise to a legal or equitable discharge of such Guarantor from its liabilities
under this Guaranty.

          8. No invalidity, irregularity or unenforceability of all or any part of the Guaranteed
Obligations or of any security therefor shall affect, impair or be a defense to this Guaranty, and
this Guaranty shall be primary, absolute and unconditional notwithstanding the occurrence of any
event or the existence of any other circumstances which might constitute a legal or equitable
discharge of a surety or guarantor except payment in full in cash of the Guaranteed Obligations.

 

 

Page 6

          9. This Guaranty is a continuing one and all liabilities to which it applies or may apply
under the terms hereof shall be conclusively presumed to have been created in reliance hereon. No
failure or delay on the part of any Secured Creditor in exercising any right, power or privilege
hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, power or privilege hereunder preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. The rights and remedies herein expressly specified are
cumulative and not exclusive of any rights or remedies which any Secured Creditor would otherwise
have. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any
other further notice or demand in similar or other circumstances or constitute a waiver of the
rights of any Secured Creditor to any other or further action in any circumstances without notice
or demand. It is not necessary for any Secured Creditor to inquire into the capacity or powers
of the Bermuda Borrower or any other Guaranteed Party or the officers, directors, partners or
agents acting or purporting to act on its or their behalf, and any indebtedness made or created
in reliance upon the professed exercise of such powers shall be guaranteed hereunder.

          10. Any indebtedness of the Bermuda Borrower or any other Guaranteed Party now or hereafter
held by any Guarantor is hereby subordinated to the indebtedness of the Bermuda Borrower or such
other Guaranteed Party to the Secured Creditors; and such indebtedness of the Bermuda Borrower or
such other Guaranteed Party to any Guarantor, if the Administrative Agent or the Collateral Agent,
after an Event of Default has occurred and is continuing, so requests, shall be collected,
enforced and received by such Guarantor as trustee for the Secured Creditors and be paid over to
the Secured Creditors on account of the indebtedness of the Bermuda Borrower or such other
Guaranteed Party to the Secured Creditors, but without affecting or impairing in any manner the
liability of such Guarantor under the other provisions of this Guaranty. Prior to the transfer
by any Guarantor of any note or negotiable instrument evidencing any indebtedness of the Bermuda
Borrower or any other Guaranteed Party to such Guarantor, such Guarantor shall mark such note or
negotiable instrument with a legend that the same is subject to this subordination. Without
limiting the generality of the foregoing, each Guarantor hereby agrees with the Secured Creditors
that it will not exercise any right of subrogation which it may at any time otherwise have as a
result of this Guaranty (whether contractual, under applicable bankruptcy or insolvency law or
otherwise) until all Guaranteed Obligations have been irrevocably paid in full in cash.

          11. (a) Each Guarantor waives any right (except as shall be required by applicable statute
or law and cannot be waived) to require the Secured Creditors to: (i) proceed against the Bermuda
Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of any Guaranteed
Obligations or any other party; (ii) proceed against or exhaust any security held from the Bermuda
Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of the Guaranteed
Obligations or any other party; or (iii) pursue any other remedy in the Secured Creditors’ power
whatsoever. Each Guarantor waives any (to the fullest extent permitted by applicable law) defense
based on or arising out of any defense of the Bermuda Borrower, any other Guaranteed Party, any
other Guarantor, any other guarantor of the Guaranteed Obligations or any other party other than
payment in full in cash of the Guaranteed Obligations, including, without limitation, any defense
based on or arising out of the disability of the Bermuda Borrower, any other Guaranteed Party, any
other Guarantor, any other guarantor of the Guaranteed Obligations or any other party, or the
unenforceability of the Guaranteed

 

 

Page 7

Obligations or any part thereof from any cause, or the cessation from any cause of the liability of
the Bermuda Borrower or any other Guaranteed Party other than payment in full in cash of the
Guaranteed Obligations. The Secured Creditors may, at their election, foreclose on any security
held by the Administrative Agent, the Collateral Agent or the other Secured Creditors (other than
security over a property located within Colombia or Ecuador) by one or more judicial or nonjudicial
sales, whether or not every aspect of any such sale is commercially reasonable (to the extent such
sale is permitted by applicable law), or exercise any other right or remedy the Secured Creditors
may have against the Bermuda Borrower, any other Guaranteed Party or any other party, or any
security, without affecting or impairing in any way the liability of any Guarantor hereunder except
to the extent the Guaranteed Obligations have been paid in full in cash. Each Guarantor waives any
defense arising out of any such election by the Secured Creditors, even though such election
operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy
of such Guarantor against the Bermuda Borrower, any other Guaranteed Party or any other party or
any security.

          (b) Each Guarantor organized under the laws of Colombia (collectively, the “Colombian
Guarantors”) hereby grants the Secured Creditors, the Administrative Agent and the Collateral
Agent the option to receive automatic payment in kind of the Guaranteed Obligations with any of
the security referred to herein. In the event the Secured Creditors, the Administrative Agent or
the Collateral Agent elects such alternative, each of the Columbian Guarantors hereby and as from
now accepts any such election and undertakes to abide by it.

          (c) Each Guarantor waives all presentments, demands for performance, protests and notices,
including, without limitation, notices of nonperformance, notices of protest, notices of dishonor,
notices of acceptance of this Guaranty, and notices of the existence, creation or incurring of new
or additional indebtedness. Each Guarantor assumes all responsibility for being and keeping
itself informed of the Bermuda Borrower’s and each other Guaranteed Party’s financial condition
and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed
Obligations and the nature, scope and extent of the risks which such Guarantor assumes and incurs
hereunder, and agrees that the Secured Creditors shall have no duty to advise any Guarantor of
information known to them regarding such circumstances or risks.

          (d) Each Guarantor warrants and agrees that each of the waivers set forth above is made with
full knowledge of its significance and consequences and that if any of such waivers are determined
to be contrary to any applicable law or public policy, such waivers shall be effective only to the
maximum extent permitted by law.

          12. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, the
Secured Creditors agree (by their acceptance of the benefits of this Guaranty) that this Guaranty
may be enforced only by the action of the Administrative Agent or the Collateral Agent, in each
case acting upon the instructions of the Required Lenders (or, after the date on which all Credit
Document Obligations have been paid in full, the holders of at least a majority of the outstanding
Hedging Obligations) and that no other Secured Creditor shall have any right individually to seek
to enforce or to enforce this Guaranty or to realize upon the security to be granted by the
Security Documents, it being understood and agreed that such rights and remedies may be exercised
by the Administrative Agent or the Collateral Agent or, after all the Credit

 

 

Page 8

Document Obligations have been paid in full, the holders of at least a majority of the outstanding
Hedging Obligations, as the case may be, for the benefit of the Secured Creditors upon the terms
of this Guaranty and the Security Documents. The Secured Creditors further agree that this
Guaranty may not be enforced against, and shall be non-recourse with respect to, any director,
officer, employee, partner, member or stockholder of any Guarantor (except to the extent such
partner, member or stockholder is also a Guarantor hereunder). It is understood and agreed that
the agreement in this Section 12 is among and solely for the benefit of the Secured Creditors and
that if the Required Lenders (or, after the date on which all Credit Document Obligations have
been paid in full, the holders of at least a majority of the outstanding Hedging Obligations) so
agree (without requiring the consent of any Guarantor), this Guaranty may be directly enforced by
any Secured Creditor.

          13. In order to induce the Lenders to make certain Loans to, and issue and/or participate in
Letters of Credit and Bank Guaranties for the account of the Bermuda Borrower pursuant to the
Credit Agreement, and in order to induce the Hedging Creditors to execute, deliver and perform the
Interest Rate Protection Agreements and Other Hedging Agreements, each Guarantor represents,
warrants and covenants that:

     (a) such Guarantor (i) is a duly organized and validly existing Company under the laws
of the jurisdiction of its organization, (ii) has the Company power and authority to own
its property and assets and to transact the business in which it is engaged and presently
proposes to engage and (iii) is duly qualified and is authorized to do business and is in
good standing in all jurisdictions where it is required to be so qualified (to the extent
such concept exists in any such jurisdiction) and where the failure to be so qualified
could reasonably be expected to have a Material Adverse Effect;

     (b) such Guarantor has the Company power and authority to execute, deliver and perform
the terms and provisions of this Guaranty and each other Credit Document (such term, for
purposes of this Guaranty, to mean each Credit Document (as defined in the Credit
Agreement) and each Interest Rate Protection Agreement and Other Hedging Agreement with an
Hedging Creditor) to which it is a party and has taken all necessary Company action to
authorize the execution, delivery and performance by it of this Guaranty and each such
other Credit Document;

     (c) such Guarantor has duly executed and delivered this Guaranty and each other Credit
Document to which it is a party, and this Guaranty and each such other Credit Document
constitutes the legal, valid and binding obligation of such Guarantor enforceable
in accordance with its terms, except to the extent that the enforceability hereof or
thereof may be limited by applicable capital maintenance, bankruptcy, insolvency,
reorganization, moratorium or other similar laws generally affecting creditors’
rights and by equitable principles (regardless of whether enforcement is sought in equity
or at law);

     (d) neither the execution, delivery or performance by such Guarantor of this Guaranty
or any other Credit Document to which it is a party, nor compliance by it with the terms
and provisions hereof and thereof, will (i) contravene any material provision of any
applicable law, statute, rule or regulation or any applicable order, writ, injunction or

 

 

Page 9

decree of any court or governmental instrumentality, (ii) conflict with or be inconsistent with or
result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a
default under, or result in the creation or imposition of (or the obligation to create or impose)
any Lien (except pursuant to the Security Documents) upon any of the material property or assets
of such Guarantor or any of its Subsidiaries pursuant to the terms of any indenture, mortgage,
deed of trust, loan agreement, credit agreement, or any other material agreement, contract or
instrument to which such Guarantor or any of its Subsidiaries is a party or by which it or any of
its material property or assets is bound or to which it may be subject or (iii) violate any
provision of the articles of association, certificate of incorporation, by-laws or equivalent
organizational documents, as the case may be, of such Guarantor or any of its Subsidiaries;

          (e) no order, consent, approval, license, authorization or validation of, or filing,
recording or registration with (except (x) for immaterial filings relating to the Acquisition as
set forth on Schedule XIX of the Credit Agreement and (y) as may have been obtained or made prior
to the date when required and which remain in full force and effect), or exemption by, any
governmental or public body or authority, or any subdivision thereof, is required to authorize, or
is required in connection with, (i) the execution, delivery and performance of this Guaranty by
such Guarantor or any other Credit Document to which such Guarantor is a party or (ii) the
legality, validity, binding effect or enforceability of this Guaranty or any other Credit Document
to which such Guarantor is a party, provided, however, that pursuant to the Compendium
of Rules of Foreign Exchange (the “Compendium”) of the Central Bank of Chile (the “Central
Bank”), within the subsequent 10 days, each Guarantor organized under the laws of Chile
(collectively, the “Chilean Guarantors”) shall inform the Central Bank the execution of the
Guaranty in accordance with the procedure set forth in Chapter X of the Procedure and Information
Forms Manual of the Compendium, and provided, however, that pursuant to Article 55 of the
Foreign Exchange Law of Japan (Law No. 228 of 1949), within 10 days of any payment above Japanese
yen 30 million made outside of Japan, each Guarantor organized under the laws of Japan
(collectively, the “Japanese Guarantors”) shall file a report to the Ministry of Finance through
the Bank of Japan, of such payment, provided further that the Debentures executed by the
HK Guarantors (as defined below) are required to be registered at the Hong Kong Companies Registry
within 5 weeks from the date of their execution and at other appropriate governmental departments
within the applicable time limits and that the set-off rights created under Section 19 of this
Guaranty (relating to set-off and which arguably creates a charge) and the trust arrangement
created under Section 2(b) of the Intercompany Subordination Agreement (which also arguably
creates a charge) may be required to be registered at the Hong Kong Companies Registry within 5
weeks from the date of this Guaranty; and

          (f) there are no actions, suits or proceedings pending or, to such Guarantor’s knowledge,
threatened (i) with respect to this Guaranty or any other Document to which such Guarantor is a
party, (ii) with respect to such Guarantor or any of its Subsidiaries that, either individually or
in the aggregate, could reasonably be expected to have a Material Adverse Effect or (iii) that
could reasonably be expected to have a material adverse effect on the rights or remedies of the
Secured Creditors or on the ability of such

 

 

Page 10

Guarantor to perform its respective obligations to the Secured Creditors hereunder and under
the other Credit Documents to which it is a party.

          14. Each Guarantor covenants and agrees that on and after the Effective Date and until the
termination of the Total Commitment and all Interest Rate Protection Agreements and Other Hedging
Agreements and until such time as no Note, Letter of Credit or Bank Guaranty remains outstanding
and all Guaranteed Obligations have been paid in full (other than indemnities described in Section
13.13 of the Credit Agreement and analogous provisions in the Security Documents which are not
then due and payable), such Guarantor will comply, and will cause each of its Subsidiaries to
comply, with all of the applicable provisions, covenants and agreements contained in Sections 8
and 9 of the Credit Agreement, and shall take, or will refrain from taking, as the case may be,
all actions that are necessary to be taken or not taken so that no violation of any provision,
covenant or agreement contained in Section 8 or 9 of the Credit Agreement, and so that no Default
or Event of Default, is caused by the actions of such Guarantor or any of its Subsidiaries.

          15. The Guarantors hereby jointly and severally agree to pay all reasonable out-of-pocket
costs and expenses of each Secured Creditor in connection with the enforcement of this Guaranty
(including any stamp tax, and/or any other tax, penalty or payment that may be payable under
Section 3 hereof) and the protection of such Secured Creditor’s rights hereunder and any
amendment, waiver or consent relating hereto (including, in each case, without limitation, the
reasonable fees and disbursements of counsel (including in-house counsel) employed by any Secured
Creditor).

          16. This Guaranty shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the Secured Creditors and their successors and assigns.

          17. Neither this Guaranty nor any provision hereof may be changed, waived, discharged or
terminated except with the written consent of each Guarantor directly affected thereby (it being
understood that (I) the addition or release of any Guarantor hereunder and (II) any modification
to Section 24 to add additional guaranty limitations in respect of an additional Guarantor
hereunder, in either case, shall not constitute a change, waiver, discharge or termination
affecting any Guarantor other than the Guarantor so added or released) and with the written
consent of either (x) the Required Lenders (or (A) to the extent required by Section 13.12 of the
Credit Agreement, with the written consent of each Lender, or (B) to the extent permitted by
Section 13.12 of the Credit Agreement, the Administrative Agent) at all times prior to the time at
which all Credit Document Obligations have been paid in full or (y) the holders of at least a
majority of the outstanding Hedging Obligations at all times after the time at which all Credit
Document Obligations have been paid in full; provided, that any change, waiver,
modification or variance affecting the rights and benefits of a single Class (as defined below) of
Secured Creditors (and not all Secured Creditors in a like or similar manner) shall also require
the written consent of the Requisite Creditors (as defined below) of such Class of Secured
Creditors (it being understood that the addition or release of any Guarantor hereunder shall not
constitute a change, waiver, discharge or termination affecting any Guarantor other than the
Guarantor so added or released). For the purpose of this Guaranty, the term “Class” shall mean
each class of Secured Creditors, i.e., whether (x) the Lender Creditors as holders of the
Credit Document

 

 

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Obligations or (y) the Hedging Creditors as the holders of the Hedging Obligations. For the
purpose of this Guaranty, the term “Requisite Creditors” of any Class shall mean (x) with
respect to the Credit Document Obligations, the Required Lenders (or, to the extent required by
Section 13.12 of the Credit Agreement, each Lender) and (y) with respect to the Hedging
Obligations, the holders of at least a majority of all obligations outstanding from time to time
under the Interest Rate Protection Agreements and Other Hedging Agreements.

          18. Each Guarantor acknowledges that a final draft or an executed (or conformed) copy of each
of the Credit Documents and Interest Rate Protection Agreements or Other Hedging Agreements has
been or will be made available to an Authorized Officer of such Guarantor and such Authorized
Officer is or will be familiar with the contents thereof.

          19. In addition to any rights now or hereafter granted under applicable law (including,
without limitation, Section 151 of the New York Debtor and Creditor Law) and not by way of
limitation of any such rights, upon the occurrence and during the continuance of an Event of
Default (such term to mean and include any “Event of Default” as defined in the Credit Agreement
and, after the Credit Document Obligations Termination Date (as defined in the U.S. Security
Agreement), any payment default under any Interest Rate Protection Agreement or Other Hedging
Agreement continuing after any applicable grace period), each Secured Creditor is hereby
authorized, at any time or from time to time, without notice to any Guarantor or to any other
Person, any such notice being expressly waived, to set off and to appropriate and apply any and
all deposits (general or special) and any other indebtedness at any time held or owing by such
Secured Creditor to or for the credit or the account of such Guarantor, against and on account of
the obligations and liabilities of such Guarantor to such Secured Creditor under this Guaranty,
irrespective of whether or not such Secured Creditor shall have made any demand hereunder and
although said obligations, liabilities, deposits or claims, or any of them, shall be contingent or
unmatured, provided however that such setoff rights shall not apply to deposits of any
Colombian Guarantor or Ecuadorian Guarantor, or any indebtedness owing by a Colombian Guarantor or
an Ecuadorian Guarantor, to any Secured Creditor. Each Secured Creditor (by its acceptance of the
benefits hereof) acknowledges and agrees that the provisions of this Section 19 are subject to the
sharing provisions set forth in Section 13.06(b) of the Credit Agreement.

          20. All notices, requests, demands or other communications pursuant hereto shall be deemed to
have been duly given or made when delivered to the Person to which such notice, request, demand or
other communication is required or permitted to be given or made under this Guaranty, addressed to
such party at (i) in the case of any Lender Creditor, as provided in the Credit Agreement, (ii) in
the case of any Guarantor, at its address set forth opposite its signature below and (iii) in the
case of any Hedging Creditor, at such address as such Hedging Creditor shall have specified in
writing to the Guarantors; or in any case at such other address as any of the Persons listed above
may hereafter notify the others in writing.

          21. If claim is ever made upon any Secured Creditor for repayment or recovery of any amount
or amounts received in payment or on account of any of the Guaranteed Obligations and any of the
aforesaid payees repays all or part of said amount by reason of (i) any judgment, decree or order
of any court or administrative body having jurisdiction over such payee or any of its property or
(ii) any settlement or compromise of any such claim effected by such payee with any such claimant
(including the Bermuda Borrower or any other Guaranteed

 

 

Page 12

Party), then and in such event each Guarantor agrees that any such judgment, decree, order,
settlement or compromise shall be binding upon such Guarantor, notwithstanding any revocation
hereof or the cancellation of any Note, any Interest Rate Protection Agreement, any Other Hedging
Agreement or any other instrument evidencing any liability of the Bermuda Borrower or any other
Guaranteed Party, and such Guarantor shall be and remain liable to the aforesaid payees hereunder
for the amount so repaid or recovered to the same extent as if such amount had never originally
been received by any such payee.

          22. (a) THIS GUARANTY AND THE RIGHTS AND OBLIGATIONS OF THE SECURED CREDITORS AND OF THE
UNDERSIGNED HEREUNDER SHALL, EXCEPT AS OTHERWISE PROVIDED IN CLAUSE (d) OF THIS SECTION 22, BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. Any legal action or
proceeding with respect to this Guaranty or any other Credit Document to which any Guarantor is a
party may be brought in the courts of the State of New York or of the United States of America for
the Southern District of New York, in each case located within the City of New York, and, by
execution and delivery of this Guaranty, each Guarantor hereby irrevocably accepts for itself and
in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid
courts. Each Guarantor hereby irrevocably designates, appoints and empowers Corporation Service
Company, with offices on the date hereof at 80 State Street, Albany, NY 12207, as its designee,
appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its
property, service of any and all legal process, summons, notices and documents which may be served
in any such action or proceeding. If for any reason such designee, appointee and agent shall cease
to be available to act as such, each Guarantor agrees to designate a new designee, appointee and
agent in New York City on the terms and for the purposes of this provision reasonably satisfactory
to the Administrative Agent under the Credit Agreement. Each Guarantor hereby further irrevocably
waives any claim that any such courts lack jurisdiction over such Guarantor, and agrees not to
plead or claim, in any legal action or proceeding with respect to this Guaranty or any other Credit
Document to which such Guarantor is a party brought in any of the aforesaid courts, that any such
court lacks jurisdiction over such Guarantor. Each Guarantor further irrevocably consents to the
service of process out of any of the aforementioned courts in any such action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to each Guarantor at
its address set forth opposite its signature below, such service to become effective 30 days after
such mailing. Each Guarantor hereby irrevocably waives any objection to such service of process and
further irrevocably waives and agrees not to plead or claim in any action or proceeding commenced
hereunder or under any other Credit Document to which such Guarantor is a party that such service
of process was in any way invalid or ineffective. Nothing herein shall affect the right of any
Secured Creditor to serve process in any other manner permitted by law or to commence legal
proceedings or otherwise proceed against any Guarantor in any other jurisdiction.

          (b) Each Guarantor hereby irrevocably waives any objection which it may now or hereafter have
to the laying of venue of any of the aforesaid actions or proceedings arising out of or in
connection with this Guaranty or any other Credit Document to which such Guarantor is a party
brought in the courts referred to in clause (a) above and hereby further irrevocably waives and
agrees not to plead or claim in any such court that any such action or proceeding brought in any
such court has been brought in an inconvenient forum, or that the

 

 

Page 13

choice of law provisions are invalid or unenforceable and agrees not to plead or claim before any
authority or court, including the courts of its state of incorporation or formation, that any
judgment issued by the courts referred to in clause (a) above is contrary to public policy
(except, with respect to any Japanese Guarantor, to the extent that the terms of such judgment
issued by the courts referred to in clause (a) above and its formation process are deemed, in
accordance with the provisions of Article 118 of the Code of Civil Procedures (Law No. 109 of
1996), as contrary to the public order or good morals of Japan).

          (c) EACH GUARANTOR AND EACH SECURED CREDITOR (BY ITS ACCEPTANCE OF THE BENEFITS OF THIS
GUARANTY) HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS GUARANTY, THE OTHER CREDIT DOCUMENTS TO WHICH
SUCH GUARANTOR IS A PARTY OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          (d) NOTWITHSTANDING ANYTHING IN THIS GUARANTY TO THE CONTRARY, AND WITH RESPECT ONLY TO THE
COLOMBIAN GUARANTORS, IN THE EVENT THE ADMINISTRATIVE AGENT OR ANY OF THE SECURED CREDITORS
ELECTS TO ENFORCE THIS GUARANTY AGAINST ANY COLOMBIAN GUARANTOR IN A COLOMBIAN COURT AS PROVIDED
BELOW, THE GUARANTEE OF THE COLOMBIAN GUARANTORS PURSUANT TO THIS GUARANTY AND THE RIGHTS OF
THE SECURED CREDITORS AS AGAINST THE COLOMBIAN GUARANTORS SHALL BE (AND SHALL BE DEEMED TO BE)
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF COLOMBIA. Any legal action or
proceeding with respect to a Colombian Guarantor in connection with this Guaranty or any other
Credit Document to which any Colombian Guarantor is a party may be brought in the competent courts
of Colombia.

          23. In the event that all of the capital stock or other Equity Interests of one or more
Guarantors is sold or otherwise disposed of or liquidated in compliance with the requirements of
Section 9.02 of the Credit Agreement (or such sale, other disposition or liquidation has been
approved in writing by the Required Lenders (or all Lenders if required by Section 13.12 of the
Credit Agreement)) and the proceeds of such sale, disposition or liquidation are applied in
accordance with the provisions of the Credit Agreement, to the extent applicable, such Guarantor
shall, upon consummation of such sale or other disposition (except to the extent that such sale or
disposition is to Holdings or any of its Wholly-Owned Subsidiaries), be released from this
Guaranty and this Guaranty shall, as to each such Guarantor or Guarantors, terminate, and have no
further force or effect (it being understood and agreed that the sale of one or more Persons that
own, directly or indirectly, all of the capital stock or other equity interests of any Guarantor
shall be deemed to be a sale of such Guarantor for the purposes of this Section 23).

          24. (a) Notwithstanding anything in this Guaranty to the contrary, and solely with respect to
Guarantors organized under the laws of Italy (collectively, the “Italian Guarantors”):

     (i) the Guaranteed Obligations shall be limited to (x) the Credit Document
Obligations owing by the Bermuda Borrower and incurred for the working capital

 

 

Page 14

and general corporate purposes of the Bermuda Borrower and its affiliates (including
credit extensions incurred pursuant to the Refinancing but excluding obligations incurred
to finance the Acquisition) and (y) the Hedging Obligations; and

     (ii) the obligations of each Italian Guarantor under this Guaranty shall at no time
exceed an amount equal to the net worth of such Guarantor as determined in accordance with
generally accepted accounting principles in Italy, less the share capital
(capitale sociale) of such Guarantor, plus the outstanding principal amount of any
intercompany loans made to such Guarantor.

     (b) Notwithstanding anything in this Guaranty to the contrary, and solely with respect to
Guarantors organized under the laws of the Federal Republic of Germany (collectively, the “German
Guarantors”):

     (i) The right to enforce the guaranty and indemnity contained in this Guaranty (the
“German Guaranty”) shall, in the case of such guaranty and indemnity granted by Dole Fresh
Fruit Europe OHG not extend to any assets or result in any liability of Michael Carter or
any other individual partner of such entity and shall if and to the extent that it is an
up-stream or cross-stream guaranty or indemnity by a German Guarantor constituted in the
form of a GmbH, or a GmbH & Co. KG, at all times be limited to an amount equal to the Net
Assets (as defined below) of such GmbH or such GmbH & Co. KG, as the case may be.

For purposes of this clause (b), “Net Assets” shall mean, for a German Guarantor
constituted in the form of a GmbH, its total assets less its liabilities,
(including liability reserves (Rückstellungen)) less the registered share capital
(Stammkapital) of such GmbH and shall mean for a German Guarantor constitued in the form
of a GmbH & Co. KG, its total assets less its liabilities (including liability
reserves (Rückstellungen)), plus, provided that this is greater than nil, its
general partner’s total assets less the general partner’s liabilities (including
liability reserves (Rückstellungen)) less the registered share capital
(Stammkapital) of the general partner of such GmbH & Co. KG, provided that for the
purposes of the calculation Net Assets, the following balance sheet items shall be
adjusted as follows:

     (x) the amount of any increase of registered share capital (Stammkapital)
after the date hereof that has been effected without the prior written consent of
the Collateral Agent (acting on behalf of the Secured Creditors) not to be
unreasonably withheld or delayed shall be deducted from the registered share
capital (Stammkapital) of such GmbH or general partner of such GmbH & Co. KG, as
the case may be;

     (y) Loans provided to the relevant German Guarantor and in addition if the
German Guarantor is constituted in the form of a GmbH & Co. KG, to the general
partner of such GmbH & Co. KG, by Holdings and/or any of its Subsidiaries as far
as such loans are subordinated or qualify under

 

 

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Section 32(a) of the German Limited Liability Companies Act (GmbHG) or Section 172(a) of
the German Company Code (HGB) shall be disregarded; and

     (z) Loans and other Indebtedness incurred in violation of the provisions of the
Credit Agreement shall be disregarded.

     (ii) In addition, a German Guarantor which has provided a German Guaranty and which is
constituted in the form of a GmbH or a GmbH & Co. KG shall realize (realisieren), if and to the
extent legally permitted in respect of the relevant German Guarantor’s business in a situation
where such German Guarantor does not have sufficient assets to maintain its or its general
partner’s registered share capital (Stammkapital), any and all of its assets that are shown in the
balance sheet with a book value (Buchwert) that is sufficiently lower than the market value of the
asset if such asset is not necessary for the German Guarantor’s business (betriebsnotwendig).

     (iii) For the purpose of the calculations of the Net Assets, (i) reference should be made to
the most recent audited annual financial statements of such German Guarantor and, in addition, if
the German Guarantor is constituted in the form of a GmbH & Co. KG, of the general partner of such
GmbH Co. KG, if such financial statements were drawn up within the previous six months from the
date of receipt of notice of enforcement of the German Guaranty from the Collateral Agent (which
can be given at any time by the Collateral Agent after an Event of Default under the Credit
Agreement has occurred and is continuing) or (ii) if no such audited annual financial statements
are available, the German Guarantor and, in addition, if the German Guarantor is constituted in the
form of a GmbH & Co. KG, the general partner of such GmbH Co. KG, shall deliver within sixty days
after receipt of such notice from the Collateral Agent an auditor’s determination from a firm of
auditors of international standard and reputation (the “Auditor’s Determination”) stating,
if and to what extent there are Net Assets of the German Guarantor permitting the enforcement of
the guaranties created hereunder. The Auditor’s Determination shall take into account the general
accepted accounting principles applicable in Germany and applicable court rulings and shall, in the
absence of manifest error, be binding on the parties hereto.

Should no audited annual financial statements within the meaning of the preceding subclause (i)
above be available and the German Guarantor or, in addition, if the German Guarantor is
constituted in the form of a GmbH & Co. KG, the general partner of such GmbH & Co. KG, fails to
deliver an Auditor’s Determination within the time period stated in the preceding subclause (ii)
above, the Collateral Agent shall be entitled to enforce the Guaranty granted hereunder without
limitation.

     (iv) The limitations on enforcing the German Guaranty set out in this Section 24 shall not
apply:

 

 

Page 16

     (x) if and to the extent that any German Guarantor is legally and commercially
in a position to take measures (including, without limitation, set-off claims) to
avoid the enforcement of the German Guaranty causing the Net Assets of such German
Guarantor to be reduced below the amount of its registered share capital or its
general partner’s registered share capital, which is protected by Sections 30 and 31
of the German Limited Liability Companies Act (GmbHG), then, in such case, the
Secured Creditors shall not enforce the relevant German Guaranty to the extent such
enforcement exceeds the limitation referred to in clauses (i) and (ii) of this
Section 24 until the measures referred to in this subclause (x) have been taken by
the respective German Guarantor, provided that such measures (if any) are
taken promptly; and/or

     (y) if and to the extent any of the funds borrowed by the Bermuda Borrower
under any of the Credit Documents have been or are on-lent to the relevant German
Guarantor and are still outstanding at the time of enforcement of the relevant
guaranty.

          (c) Notwithstanding anything in this Guaranty to the contrary, and solely with respect to the
Colombian Guarantors, the payment obligation hereunder shall be limited to the Guaranteed
Obligations and in no event shall any Colombian Guarantor be obligated to pay any amount which
exceeds the Guaranteed Obligations pursuant to this Guaranty. It is understood and agreed that
this Guaranty constitutes a payment obligation and in no case shall any of the Colombian
Guarantors be obligated in or out of Court to deliver to the Guaranteed Parties any assets other
than the amount effectively guaranteed under the Guaranteed Obligations.

          (d) Notwithstanding anything in this Guaranty to the contrary, and solely with respect to
Guarantors organized under the laws of Canada (collectively, the “Canadian Guarantors”),
each Canadian Guarantor acknowledges that certain of the rates of interest applicable to the
Guaranteed Obligations may be computed on the basis of a year of 360 days or 365 days, as the case
may be and paid for the actual number of days elapsed. For purposes of the Interest Act (Canada),
whenever any interest is calculated using a rate based on a year of 360 days or 365 days, as the
case may be, such rate determined pursuant to such calculation, when expressed as an annual rate
is equivalent to (i) the applicable rate based on a year of 360 days or 365 days, as the case may
be, (ii) multiplied by the actual number of days in the calendar year in which the period for such
interest is payable (or compounded) ends, and (iii) divided by 360 or 365, as the case may be.

          (e) Notwithstanding anything in this Guaranty to the contrary, and solely with respect to the
Guarantor organized under the laws of Turkey (the “Turkish Guarantor”), this Guaranty shall come
into effect after the Turkish Guarantor shall have called the general assembly of the Turkish
Guarantor for a meeting to be held on or prior to April 11, 2003, or such other date as may be
agreed by the Administrative Agent, to adopt a resolution amending the articles of association of
the Turkish Guarantor (the “Articles of Association”) in the form to be agreed between the Turkish
Guarantor and the Administrative Agent as soon as practicable following the date hereof, to ensure
that the Articles of Association fully authorizes the Turkish Guarantor to undertake the
obligations under this Guaranty, and shall have provided the Administrative Agent with an original
or notarized copy of (i) the board of directors resolution

 

 

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convening the General Assembly for adopting the resolution for such amendment, (ii) a certificate
or letter, with a notarized translation thereof into English, from the Ministry of Industry and
Commerce of Turkey approving the draft amendment to the Articles of Association and (iii) such
general assembly resolution approving the amendments.

          (f) The obligations of Ashford Company Limited and Mendocino Limited hereunder shall be
limited to the extent that each such company shall at all times meet the solvency margin required
to be maintained under the Insurance Act 1978 of Bermuda and the regulations, hereunder;
provided that this limitation shall not apply to any fiscal period for which a direction is
in force under Section 56 of the Insurance Act 1978 of Bermuda exempting the inclusion of a
liability in respect of this Guaranty in their respective statutory financial statements prepared
in accordance with the Insurance Accounts Regulations 1980. Each of Ashford Company Limited and
Mendocino Limited shall use their commercially reasonable efforts to obtain and/or maintain such a
direction for each fiscal year during which this Guaranty remains in effect.

          25. This Guaranty may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which when so executed and delivered shall be an
original, but all of which shall together constitute one and the same instrument. A set of
counterparts executed by all the parties hereto shall be lodged with Holdings and the
Administrative Agent.

          26. It is understood and agreed that any Foreign Subsidiary of Holdings that is required to
become a party to this Guaranty after the date hereof pursuant to the requirements of the Credit
Agreement shall become a Guarantor hereunder by (x) executing a counterpart hereof and/or an
assumption agreement, in each case in form and substance reasonably satisfactory to the
Administrative Agent, and (y) taking all actions as specified in this Guaranty as would have been
taken by such Guarantor had it been an original party to this Guaranty, in each case with all
documents and actions required to be taken to be taken above to the reasonable satisfaction of the
Administrative Agent.

          27. (a) All payments made by any Guarantor hereunder will be made without setoff,
counterclaim or other defense, will be made in the relevant Applicable Currency in which the
respective Guaranteed Obligations are owing and will be made on the same basis as payments are
made by the Bermuda Borrower under Sections 4.03 and 4.04 of the Credit Agreement and in
accordance with the following provisions of this Section 27.

     (b) The Guarantors obligations hereunder to make payments in the respective Applicable
Currency (such Applicable Currency being herein called the “Obligation Currency”)
shall not be discharged or satisfied by any tender or recovery pursuant to any judgment
expressed in or converted into any currency other than the Obligation Currency, except to
the extent that such tender or recovery results in the effective receipt by the
Administrative Agent, the Collateral Agent or the respective other Secured Creditor of the
full amount of the Obligation Currency expressed to be payable to the Administrative Agent,
the Collateral Agent or such other Secured Creditor under this Guaranty or the other Credit
Documents or any Interest Rate Protection Agreement or Other Hedging Agreement, as
applicable. If for the purpose of obtaining or enforcing

 

 

Page 18

judgment against any Guarantor in any court or in any jurisdiction, it becomes necessary
to convert into or from any currency other than the Obligation Currency (such other
currency being hereinafter referred to as the “Judgment Currency”) an amount due in the
Obligation Currency, the conversion shall be made, at the Euro Equivalent or the Dollar
Equivalent thereof, as the case may be, or, in the case of conversion into other
currencies, at the rate of exchange (as quoted by the Administrative Agent or if the
Administrative Agent does not quote a rate of exchange on such currency, by a known dealer
in such currency designated by the Administrative Agent) determined, in each case, as of
the date immediately preceding the day on which the judgment is given (such day being
hereinafter referred to as the “Judgment Currency Conversion Date”).

     (c) If there is a change in the rate of exchange prevailing between the Judgment
Currency Conversion Date and the date of actual payment of the amount due, the Guarantors
jointly and severally covenant and agree to pay, or cause to be paid, such additional
amounts, if any (but in any event not a lesser amount), as may be necessary to ensure that
the amount paid in the Judgment Currency, when converted at the rate of exchange
prevailing on the date of payment, will produce the amount of the Obligation Currency
which could have been purchased with the amount of Judgment Currency stipulated in the
judgment or judicial award at the rate of exchange prevailing on the Judgment Currency
Conversion Date.

     (d) For purposes of determining the Euro Equivalent, the Dollar Equivalent or any
other rate of exchange for this Section 27, such amounts shall include any premium and
costs payable in connection with the purchase of the Obligation Currency.

          28. It is understood and agreed among the parties hereto, that with respect to the Colombian
Guarantors, given the obligations of the Colombian Guarantors hereunder are joint and several, the
Colombian Guarantors hereby expressly waive the right to demand that any Secured Creditor first
exhaust his remedies against the principal debtor, before seeking payment by any Colombian
Guarantor hereunder (“Beneficio de Excusión) established by Articles 2383 and 2384 of the
Colombian Civil Code.

          29. At any time a payment in respect of the Guaranteed Obligations is made under this
Guaranty, the right of contribution of each Guarantor against each other Guarantor shall be
determined as provided in the immediately following sentence, with the right of contribution of
each Guarantor to be revised and restated as of each date on which a payment (a “Relevant
Payment”) is made on the Guaranteed Obligations under this Guaranty. At any time that a Relevant
Payment is made by a Guarantor that results in the aggregate payments made by such Guarantor in
respect of the Guaranteed Obligations to and including the date of the Relevant Payment exceeding
such Guarantor’s Contribution Percentage (as defined below) of the aggregate payments made by all
Guarantors in respect of the Guaranteed Obligations to and including the date of the Relevant
Payment (such excess, the “Aggregate Excess Amount”), each such Guarantor shall have a right of
contribution against each other Guarantor who has made payments in respect of the Guaranteed
Obligations to and including the date of the Relevant Payment in an aggregate amount less than
such other Guarantor’s Contribution Percentage of the aggregate payments made to and including the
date of the Relevant Payment by all Guarantors in

 

 

Page 19

respect of the Guaranteed Obligations (the aggregate amount of such deficit, the “Aggregate
Deficit Amount”)in an amount equal to (x) a fraction the numerator of which is the Aggregate
Excess Amount of such Guarantor and the denominator of which is the Aggregate Excess Amount of all
Guarantors multiplied by (y) the Aggregate Deficit Amount of such other Guarantor. A Guarantor’s
right of contribution pursuant to the preceding sentences shall arise at the time of each
computation, subject to adjustment to the time of each computation; provided that no
Guarantor may take any action to enforce such right until the Guaranteed Obligations have been
irrevocably paid in full in cash, it being expressly recognized and agreed by all parties hereto
that any Guarantor’s right of contribution arising pursuant to this Section 29 against any other
Guarantor shall be expressly junior and subordinate to such other Guarantor’s obligations and
liabilities in respect of the Guaranteed Obligations and any other obligations owing under this
Guaranty. As used in this Section 29: (i) each Guarantor’s “Contribution Percentage” shall mean the
percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by
(y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each
Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y)
zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable
value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and
other liabilities (including contingent liabilities, but without giving effect to any Guaranteed
Obligations arising under this Guaranty) on such date. All parties hereto recognize and agree that,
except for any right of contribution arising pursuant to this Section 29, each Guarantor who makes
any payment in respect of the Guaranteed Obligations shall have no right of contribution or
subrogation against any other Guarantor in respect of such payment until all of the Guaranteed
Obligations have been irrevocably paid in full in cash. Each of the Guarantors recognizes and
acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor
of the party entitled to such contribution. In this connection, each Guarantor has the right to
waive its contribution right against any Guarantor to the extent that after giving effect to such
waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

          30. Upon request of the Collateral Agent, each Chilean Guarantor shall duly authorize,
execute and deliver such security agreements, documents and instruments as may be required by the
Collateral Agent (based on advice of local counsel), to grant to the Secured Creditors a valid and
enforceable first priority, perfected security interests in all or substantially all of the assets
of such Chilean Guarantor (including all tangible and intangible assets, including receivables,
contract rights, securities, inventory, equipment, real estate, leasehold interests, vessels,
insurances, and material patents, trademarks and other intellectual property but excluding
Excluded Collateral) in each case whether now existing or hereafter from time to time acquired, in
which it is practicable (in accordance with requirements of local law and taking into account such
cost and practicality considerations as may be agreed by the Collateral Agent) to obtain such
security interests (as determined by the Collateral Agent, based on advice of local counsel). All
security documentation to be executed and delivered by each Chilean Guarantor pursuant to the
immediately preceding sentence (each, as amended, modified, restated and/or supplemented from time
to time, a “Foreign Security Agreement” and, collectively, the “Foreign Security
Agreements”) shall (i) be prepared by local counsel reasonably satisfactory to the Collateral
Agent and (ii) be in form and substance reasonably satisfactory to the Collateral Agent. In
connection with the execution and delivery of the Foreign Security Agreements, the respective
Guarantor shall take such actions as may be necessary or desirable under local law (as

 

 

Page 20

advised by local counsel) to create, maintain, effect, perfect, preserve, maintain and protect the
security interests granted (or purported to be granted) thereby.

*       *       *

 

 

Page 21

          IN WITNESS WHEREOF, the parties hereto (other than with respect to the Guarantors organized
under the laws of the Hong Kong Special Administrative Region of the People’s Republic of China
(the “HK Guarantors”)) have caused this Guaranty to be executed and delivered by their duly
authorized officers as of the date first above written.

          IN WITNESS WHEREOF, this Guaranty has been signed, sealed and delivered by the duly authorized
officers of the HK Guarantors and has been signed on behalf of the Collateral Agent as of the date
first above written.

	 	 	 	 	 
	 	AGOURA LIMITED,

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	 /s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	ASHFORD COMPANY, LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	
/s/ C. Marc Wetherhill

 	 
	 	 	Title: Authorised Signature 	 
	 	 	 	 
	 	BALTIME LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Authorised Signature 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorised Signature 	 
	 	 	 	 
	 	CAMARILLO, LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 

 

 

Page 22

	 	 	 	 	 
	 	DOLE ASIA, LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	DOLE INTERNATIONAL, LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	DOLE NEW ZEALAND LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	INTERFRUIT COMPANY LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Authorized Signature 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorized Signature 	 
	 	 	 	 
	 	MAHELE, LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 

 

 

Page 23

	 	 	 	 	 
	 	MENDOCINO LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorized Signature 	 
	 	 	 	 
	 	REFERSHIP MARINE SERVICES, LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	FLORAMERICA INVESTMENTS LTD.,

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	SOLAMERICA, LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	STANDARD FRUIT COMPANY 
   (BERMUDA) LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 

 

 

Page 24

	 	 	 	 	 
	 	DOLE FOODS OF CANADA LTD., 

   as a Guarantor

 	 
	 	By  	/s/ Robert Castagner
 	 
	 	 	Title: Vice-President 	 
	 	 	 	 
	 	AGRICOLA CALIFORNIA LIMITADA, 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 
	 	AGRICOLA PENCAHUE LIMITADA,

   as a Guarantor 	 
	 	 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	AGRICOLA PUNITAQUI LIMITADA, 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	AGRICOLA RAUQUEN LIMITADA, 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	CARTONES SAN FERNANDO S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	DOLE CHILE S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	EMBALAJES STANDARD S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 

 

 

Page 25

	 	 	 	 	 
	 	INVERSIONES DEL PACIFICO S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 	AGRICOLA EUFEMIA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 	AGROPECUARIA SAN GABRIEL LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 	AGROPECUARIA SAN PEDRO LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: SubGerente General 	 
	 	 	 	 
	 	BANA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Guillermo Sierra Pinto
 	 
	 	 	Title: Gerente 	 
	 	 	 	 
	 	COMPANIA EXPORTADORA DE PRODUCTOS 

   AGRICOLAS S.C.A., 

   as a Guarantor

 	 
	 	By  	/s/ Guillermo Sierra Pinto
 	 
	 	 	Title: Gerente Socio Gestor 	 
	 	 	 	 
	 	INVERSIONES ORIHUECA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Primer Suplente del Representante Legal 	 
	 	 	 	 

 

 

Page 26

	 	 	 	 	 
	 	SERVICIOS TECNICOS BANANEROS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Suplente del Gerente 	 
	 	 	 	 
	 	C.I. AGRICOLA EL CASTILLO LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Jorge Eliécer Hernández Benítez
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 	C.I. AGRICOLA GUACARI LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 	AMERICAFLOR LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Luis Jorge López Barrera
 	 
	 	 	Title: Gerente 	 
	 	 	 	 
	 	C.I. COLOMBIAN CARNATIONS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. CULTIVOS DEL CARIBE LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 

 

 

Page 27

	 	 	 	 	 
	 	C.I. CULTIVOS SAN NICOLAS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORAMERICA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORES ALTAMIRA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Julio Enrique Amador Gutiérrez
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORES DE EXPORTACION LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORES LA FRAGANCIA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORES LAS PALMAS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. FLORES PRIMAVERA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Julio Enrique Amador Gutiérrez
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 	FLORES SAN JOAQUIN LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Jorge Eliécer Hernándo Benítez
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 

 

 

Page 28

	 	 	 	 	 
	 	C.I. JARDINES DE COLOMBIA LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 	C.I. JARDINES DEL VALLE LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ José Vicente Medina Orjuela
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. OLYMPIA FLOWERS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ José Vicente Medina Qrjuela
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. PORCELAIN FLOWERS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. SANTA MONICA FLOWERS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. SPLENDOR FLOWERS LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	TENICAS BALTIME DE COLOMBIA S.A.,

   as a Guarantor

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 
	 	AERO-FUMIGACION CENTROAMERICANA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

Page 29

	 	 	 	 	 
	 	AGROINDUSTRIAL PINAS DEL BOSQUE S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	AGROPECUARIA RIO JIMENEZ S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ALMACENES ATALANTA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ALPPHA SIDERAL S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	BANANERA EL PORVENIR S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	BANANERA LA PAZ, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA BANANERA DEBA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

Page 30

	 	 	 	 	 
	 	COMPANIA BANANERA DEL SAN RAFAEL S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA BANANERA EL ENCANTO S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA FINANCIERA DE COSTA RICA S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA FRUTOS DE LA TIERRA S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMERCIALIZADORA E IMPORTADORA VINA
   DEL MAR S.A.,
   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DESARROLLO BANANERO LA ESPERANZA S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DESARROLLO MELONERO DEL GOLFO, S.A., 

   as a Guarantor
 	 
	 	By  	/s/ Peter Gilmore 	 
	 	 	Title: President 	 
	 	 	 	 

 

 

	 	 	 	 	 

Page 31

	 	 	 	 	 
	 	DIVERSIFICADOS DE COSTA RICA DICORI, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	HACIENDA LA ROSALIA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: Agent 	 
	 	 	 	 
	 
	 	LA PERLA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ROXANA FARMS S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	SERVICIOS ADUANALES BANADOLE, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	STANDARD FRUIT COMPANY DE COSTA RICA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE SHARED SERVICES LIMITADA, 

   as a Guarantor

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Manager 	 
	 	 	 	 

 

 

	 	 	 	 	 

Page 32

	 	 	 	 	 
	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA), 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANANACORP S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANCUBER S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA NAVIERA AGMARESA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FRIOCONT S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FRUTBAN S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	GRANELCONT S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	GUAYAMI S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 33

	 	 	 	 	 
	 	MEGABANANA S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MODUMOLL S.A.,

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	NAPORTEC S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PRODUCTOS DEL LITORAL S.A. (PROLISA), 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	REDAMAWAL S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SIEMBRANUEVA S.A.,

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FLORES MITAD DEL MUNDO LTDA., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	TALLAN, TALLERES Y LLANTAS S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 34

	 	 	 	 	 
	 	TECNIELEC TECNICOS Y ELECTRICITAS S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PORMAR TRANSPORTES POR MAR S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	UBESAIR, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	UNION DE BANANEROS ECUATORIANOS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	ZANPOTI, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	TINADI S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	AGROVERDE S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 

 

 

	 	 	 	 	 

Page 35

	 	 	 	 	 
	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A. (SAPICA), 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BETINO S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PEMATIN S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	PESCASEROLI S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	DOLE DEUTSCHLAND 

   BETEILIGUNGSGESELLSCHAFT MBH,

   as a Guarantor

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE DEUTSCHLAND GMBH, 

   as a Guarantor

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT EUROPE OHG, 

   as a Guarantor

 	 
	 	By  	/s/ Michael J. Cavallero
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 36

	 	 	 	 	 
	 	PAUL KEMPOWSKI GMBH & CO. KG, 

   as a Guarantor

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	AGROINDUSTRIA DEL CARIBE, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	AGROINDUSTRIAL ALMA VERDE, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANANERA RIO MAME, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BIENES Y VALORES, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGRICOLA EL PROGRESO, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGRICOLA INDUSTRIAL CEIBENA, SA, 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 37

	 	 	 	 	 
	 	COMPANIA AGRICOLA MAZAPAN, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGROPECUARIA EL PORVENIR, S.A.,

   as a Guarantor

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	CLINICAS MEDICAS DEL AGUAN, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	COORDINADORA DE SERVICIOS DE 

   TRANSPORTE, SA, 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DESARROLLOS URBANOS LA CEIBA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	ENERGUA S.A. SUCURSAL HONDURAS, 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 38

	 	 	 	 	 
	 	EQUIPO PESADO S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FABRICA DE MANTECA & JABON 

   ATLANTIDA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	HOSPITAL COYOLES, S.A.,

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	CIA. INVERSIONES MEDICAS NACIONALES S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	INVERSIONES Y VALORES DE MONTECRISTO, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	LABORATORIOS Y SERVICIOS DE 

   MERISTEMOS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MULTISERVICIOS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 39

	 	 	 	 	 
	 	PINA ANTILLANA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PLASTICOS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PRODUCTORA AGRICOLA DE ATLANTIDA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SERVICIOS E INVESTIGACIONES AEREAS, SA, 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SERVICIOS HONDURENOS DE AGRICULTURA 

   Y RECURSOS DE INVESTIGACION PINERA, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SOGAS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	STANDARD FRUIT DE HONDURAS, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

Page 40

	 	 	 	 	 
	 	VIGILANCIA Y SEGIRIDAD, S.A., 

   as a Guarantor

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	CASTLE & COOKE WORLDWIDE LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ James Prideaux
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ Fong Wing Cheung
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE CHINA LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ James Prideaux
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ Sze Chi Kwan Stanley
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE HONG KONG LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Fong Wing Cheung
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ Tang Fung Lim, Christopher
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE ITALIA S.P.A., 

   as a Guarantor

 	 
	 	By  	/s/ Patrizio Tumietto
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	FRATELLI ISELLA S.r.l., 

   as a Guarantor

 	 
	 	By  	/s/ Ferruccio Isella
 	 
	 	 	Title: Director - Chairman 	 
	 	 	 	 
	 

 

 

Page 41

	 	 	 	 	 
	 	LA FIORITA S.r.l., 

   as a Guarantor

 	 
	 	By  	/s/ Franco Barghini 	 
	 	 	Title: Sole Director 	 
	 	 	 	 
	 
	 	MAGAZZINI FRIGORIFERI SANTA PALOMBA S.P.A., 

   as a Guarantor

 	 
	 	By  	/s/ Patrizio Tumietto
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	TROPICAL SHIPPING ITALIANA, T.S.I. S.P.A., 

   as a Guarantor

 	 
	 	By  	/s/ Luigi Gallo
 	 
	 	 	Title: President of the Board of Directors 	 
	 	 	 	 
	 
	 	KABUSHIKI KAISHA DOLE, 

   as a Guarantor

 	 
	 	By  	/s/ Tatsuo Horiuchi
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT INTERNATIONAL LIMITED, 

   as a Guarantor

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE PHILIPPINES, INC., 

   as a Guarantor

 	 
	 	By  	/s/ Paul S. Cuyegkeng
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

Page 42

	 	 	 	 	 	 	 
	 	 	DOLE FRESH FRUIT MED GIDA
URUNLERI 

     TICARET VE A.S.,

     as a Guarantor
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Fouad Foukfa
 

Title: Director
	 	 
	 
	 	 	 	 	 	 
	Address:	 	DEUTSCHE BANK AG NEW YORK BRANCH,	 	 
	31 West 52nd Street	 	   as Administrative Agent for the Lenders	 	 
	New York, NY 10019	 	 	 	 
	 

	 	By
	 	/s/ Scottye D. Lindsey
 

Title: Vice President
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Alexander Bici
 

Title: Vice President
	 	 

 

 

EXHIBIT
H-1

AMENDED AND RESTATED U.S. PLEDGE AGREEMENT

          AMENDED AND RESTATED PLEDGE AGREEMENT, dated as of March 28, 2003, amended and restated as of
July 21, 2004 and further amended and restated as of April 12, 2006, among each of the undersigned
pledgors (each, a “Pledgor” and, together with any other entity that becomes a pledgor hereunder
pursuant to Section 30 hereof, the “Pledgors”) and DEUTSCHE BANK AG NEW YORK BRANCH (in its
individual capacity, and any successor corporation thereto by merger, consolidation or otherwise,
“DBAG”), as collateral agent (in such capacity, together with any successor collateral agent, the
“Pledgee”), for the benefit of the Secured Creditors (as defined below), acknowledged and agreed to
by DBAG, as collateral agent (in such capacity, together with any successor collateral agent, the
“Intermediate Holdco Collateral Agent”), for the benefit of the Intermediate Holdco
Creditors (as defined below). Except as otherwise defined herein, all capitalized terms used herein
and defined in the Credit Agreement (as defined below) shall be used herein as therein defined.

W I T N E S S E T H :

          WHEREAS, DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding
Company, LLC, a Delaware limited liability company (“Intermediate Holdco”), Dole Food Company,
Inc., a Delaware corporation (the “U.S. Borrower”), Solvest, Ltd., a company organized under the
laws of Bermuda (the “Bermuda Borrower”, and together with the U.S. Borrower, the “Borrowers”),
various financial institutions from time to time party thereto (the “Lenders”), DBAG, as Deposit
Bank (in such capacity, together with any successor deposit bank, the “Deposit Bank”), DBAG, as
Administrative Agent (in such capacity, together with any successor agent, the “Administrative
Agent”), Banc of America Securities LLC, as Syndication Agent (in such capacity, together with any
successor agent, the “Syndication Agent”), The Bank of Nova Scotia (in such capacity, together
with any successor agent, the “Documentation Agent”), and Deutsche Bank Securities Inc.
(in its individual capacity, and any successor corporation thereto by merger, consolidation or
otherwise, “DBSI”), as Lead Arranger and Sole Book Runner (in such capacity, the “Lead Arranger”,
and, together with the Lenders, each Issuing Lender, each Bank Guaranty Issuer, the Administrative
Agent, the Syndication Agent, the Documentation Agent, the Collateral Agent and the Pledgee are
herein called the “Lender Creditors”) have entered into a Credit Agreement, dated as of March 28,
2003, amended and restated as of April 18, 2005, and further amended and restated as of April 12,
2006, providing for the making of Loans to each of the Borrowers, the issuance of, and
participation in, Letters of Credit for the respective accounts of each of the Borrowers and the
issuance of, and participation in, Bank Guaranties for the respective accounts of each of the
Borrowers, all as contemplated therein (as used herein, the term “Credit Agreement” means
the Credit Agreement described above in this paragraph, as the same may be amended, modified,
extended, renewed, replaced, restated, supplemented or refinanced from time to time, and including
any agreement extending the maturity of, or refinancing or restructuring (including, but not
limited to, the inclusion of additional borrowers or guarantors thereunder or any increase in the
amount borrowed) all or any portion of, the indebtedness under such agreement or any successor
agreement, whether or not with the same agent, trustee, representative, lenders or holders;
provided that, with respect to any agreement providing for the refinancing or replacement
of indebtedness under the Credit Agreement, such agreement shall only be treated as, or as part
of, the Credit Agreement

 

 

Page 2

hereunder if (i) either (A) all obligations under the Credit Agreement being refinanced or
replaced shall be paid in full at the time of such refinancing or replacement, and all
Commitments, Letters of Credit and Bank Guaranties issued pursuant to the refinanced or replaced
Credit Agreement shall have terminated in accordance with their terms or, with respect to certain
Letters of Credit and Bank Guaranties, been continued, with the consent of the respective issuer
thereof, under such refinancing or replacement indebtedness or (B) the Required Lenders shall have
consented in writing to the refinancing or replacement indebtedness being treated as indebtedness
pursuant to the Credit Agreement, and (ii) a notice to the effect that the refinancing or
replacement indebtedness shall be treated as issued under the Credit Agreement shall be delivered
by the U.S. Borrower to the Collateral Agent);

          WHEREAS, the U.S. Borrower and/or one or more of its Subsidiaries may at any time and from
time to time enter into (or has on or after the Original Effective Date (as defined in the
Original Credit Agreement) entered into at any time and from time to time) one or more Interest
Rate Protection Agreements or Other Hedging Agreements with one or more Secured Hedge
Counterparties (each such Secured Hedge Counterparty, together with each such Secured Hedge
Counterparty’s respective affiliate’s successors and assigns, if any, collectively, the “Hedging
Creditors”);

          WHEREAS, Dole Holding Company, Inc. (“Corporate Holdco”) and Intermediate Holdco, as
co-borrowers, the lending institutions from time to time party thereto, DBAG, as Administrative
Agent (in such capacity, the “Intermediate Holdco
Administrative Agent”), and DBSI,
as Arranger and Book Runner have entered into a credit agreement, dated as of July 21, 2004 (as the
same may be amended, restated, modified and/or supplemented from time to time in accordance with
the terms thereof and the Credit Agreement, the “Intermediate Holdco Credit Agreement”),
providing for the incurrence by Corporate Holdco and Intermediate Holdco (as co borrowers) of term
loans (and the issuance by Corporate Holdco and Intermediate Holdco of promissory notes evidencing
such term loans);

          WHEREAS, pursuant to the U.S. Subsidiaries Guaranty, each U.S. Subsidiary Guarantor has
jointly and severally guaranteed to the Secured Creditors the payment when due of all Guaranteed
Obligations (as defined in the U.S. Subsidiaries Guaranty);

          WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings, Intermediate
Holdco and the U.S. Borrower has guaranteed to the Secured Creditors the payment when due of all
its respective Relevant Guaranteed Obligations;

          WHEREAS, the Intercreditor Agreement governs the relative rights and priorities of the
Secured Creditors and the ABL Secured Parties in respect of the TL Priority Collateral and the ABL
Priority Collateral;

          WHEREAS, it is a condition precedent to the making of Loans to each of the Borrowers, the
issuance of, and participation in, Letters of Credit for the respective accounts of the Borrowers
and the issuance of, and participation in, Bank Guaranties for the respective accounts of the
Borrowers under the Credit Agreement and to the Hedging Creditors entering into Interest Rate
Protection Agreements and Other Hedging Agreements that each Assignor shall have executed and
delivered to the Collateral Agent this Agreement; and

 

 

Page 3

          WHEREAS, each Pledgor has obtained and will continue to obtain benefits from the incurrence of
Loans by the Borrowers, the issuance of, and participation in, Letters of Credit for the respective
accounts of the Borrowers and the issuance of, and participation in, Bank Guaranties for the
respective accounts of the Borrowers under the Credit Agreement and the entering into by the
Borrowers and/or their Subsidiaries of Interest Rate Protection Agreements and/or Other Hedging
Agreements and, accordingly, each Pledgor desires to enter into this Agreement in order to satisfy
the condition described in the preceding paragraph; and

          NOW, THEREFORE, the parties hereto agree as follows:

          1. SECURITY FOR OBLIGATIONS. Subject to the terms of the Intercreditor Agreement with
respect to rights and remedies between the Collateral Agent and the ABL Collateral Agent, this
Agreement is made by:

          (i) each Pledgor for the benefit of the TL Creditors to secure:

     (i) the full and prompt payment when due (whether at stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including,
without limitation, principal, premium, interest (including, without limitation, all
interest that accrues after the commencement of any case, proceeding or other action
relating to the bankruptcy, insolvency, reorganization or similar proceeding of any
Pledgor at the rate provided for in the respective documentation, whether or not a claim
for post-petition interest is allowed in any such proceeding), reimbursement obligations
under Letters of Credit and reimbursement obligations under Bank Guaranties, fees, costs
and indemnities) of such Pledgor owing to the Lender Creditors, whether now existing or
hereafter incurred under, arising out of, or in connection with, the Credit Agreement and
the other Credit Documents to which such Pledgor is a party (including, in the event such
Pledgor is a Guarantor, all such obligations, liabilities and indebtedness of such
Pledgor under its Guaranty) and the due performance and compliance by such Pledgor with
all of the terms, conditions and agreements contained in the Credit Agreement and in such
other Credit Documents (all such obligations, liabilities and indebtedness under this
clause (i), except to the extent consisting of obligations, liabilities or indebtedness
with respect to Interest Rate Protection Agreements or Other Hedging Agreements being
herein, collectively, the “Credit Document Obligations”); and

     (ii) the full and prompt payment when due (whether at stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including,
without limitation, all interest that accrues after the commencement of any case,
proceeding or other action relating to the bankruptcy, insolvency, reorganization or
similar proceeding of any Pledgor at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such
proceeding) owing by such Pledgor to the Hedging Creditors, now existing or hereafter
incurred under, arising out of or in connection with any Interest Rate Protection
Agreement or Other Hedging Agreement, whether such Interest Rate Protection Agreement or
Other Hedging Agreement is now in existence or hereinafter arising (including, without
limitation, in the case of a Pledgor that is a Guarantor, all

 

 

Page 4

obligations, liabilities and indebtedness of such Pledgor under its Guaranty in respect
of the Interest Rate Protection Agreements and Other Hedging Agreements), and the due
performance and compliance by such Pledgor with all of the terms, conditions and
agreements contained in each such Interest Rate Protection Agreement and Other Hedging
Agreement (all such obligations, liabilities and indebtedness under this clause (B)
being herein, collectively, the “Hedging Obligations” and, together with the
Credit Document Obligations, the “TL Obligations);

          (ii) Intermediate Holdco for the benefit of the Intermediate Holdco Creditors to secure the
full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all
obligations, liabilities and indebtedness (including, without limitation, principal, premium,
interest (including, without limitation, all interest that accrues after the commencement of any
case, proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar
proceeding of Corporate Holdco or Intermediate Holdco at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such
proceeding), fees, costs and indemnities) of Corporate Holdco and Intermediate Holdco owing to the
Intermediate Holdco Creditors, whether now existing or hereafter incurred under, arising out of,
or in connection with, the Intermediate Holdco Credit Agreement and the other Intermediate Holdco
Credit Documents to which Corporate Holdco or Intermediate Holdco is a party and the due
performance and compliance by Corporate Holdco and Intermediate Holdco with all of the terms,
conditions and agreements contained in the Intermediate Holdco Credit Agreement and in such other
Intermediate Holdco Credit Documents (all such obligations, liabilities and indebtedness under
this clause (ii) being herein, collectively, the “Intermediate Holdco Credit Document
Obligations”); and

     (iii) each Pledgor for the benefit of each Secured Creditor to secure:

     (A) any and all sums advanced by the Pledgee in order to preserve the
Collateral or preserve its security interest in the Collateral;

     (B) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities of such Pledgor referred to in clauses (i) and
(ii) above, after an Event of Default shall have occurred and be continuing, the reasonable
expenses of retaking, holding, preparing for sale or lease, selling or otherwise
disposing of or realizing on the Collateral, or of any exercise by the Pledgee of its rights
hereunder, together with reasonable attorneys’ fees and court costs;

     (iii) all amounts paid by any Indemnitee as to which such Indemnitee has the right
to reimbursement under Section 11 of this Agreement; and

     (iv) all amounts owing to any Agent or any of its affiliates pursuant to any of
the Credit Documents in its capacity as such.

All such obligations, liabilities, indebtedness, sums and expenses set forth in clauses (i), (ii)
and (iii) of this Section 1 above being herein collectively called the “Obligations”, it
being acknowledged and agreed that the “Obligations” shall, subject to the immediately succeeding

 

 

Page 5

sentence, include extensions of credit of the types described above, whether outstanding on the
date of this Agreement or extended from time to time after the date of this Agreement.

          (iv) Notwithstanding anything to the contrary contained above in this definition, obligations
and liabilities which would otherwise constitute Obligations pursuant to clause (ii) of this
Section 1 shall not constitute Obligations for purposes of (or be secured pursuant to) this
Agreement if same were incurred (or guaranteed) in violation of the provisions of Section 9.04 of
the Credit Agreement as same is in effect on the date hereof;

          (v) NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE RELATIVE RIGHTS AND REMEDIES OF THE
COLLATERAL AGENT AND THE SECURED CREDITORS HEREUNDER SHALL BE SUBJECT TO AND GOVERNED BY THE TERMS
OF THE INTERCREDITOR AGREEMENT AT ANY TIME THE INTERCREDITOR AGREEMENT IS IN EFFECT. IN THE EVENT
OF ANY INCONSISTENCY BETWEEN THE TERMS HEREOF AND THE TERMS OF THE INTERCREDITOR AGREEMENT, THE
TERMS OF THE INTERCREDITOR AGREEMENT SHALL CONTROL AT ANY TIME THE INTERCREDITOR AGREEMENT IS IN
EFFECT.

          2. DEFINITIONS. (a) Unless otherwise defined herein, all capitalized terms used
herein and defined in the Credit Agreement shall be used herein as therein defined. Reference to
singular terms shall include the plural and vice versa.

          (b) The following capitalized terms used herein shall have the definitions specified below:

          “ABL Collateral Agent” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Credit Document Obligations” shall mean the “Credit Document Obligations” as
defined in the ABL Security Agreement, as amended, modified or supplemented from time to time in
accordance with the terms thereof and the ABL Credit Agreement.

          “ABL Credit Document Obligations Termination Date” shall mean that date upon which
the Discharge of ABL Obligations shall have occurred.

          “ABL Credit Documents” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Priority Collateral” shall have the meaning assigned that term in the
Intercreditor Agreement.

          “ABL Secured Parties” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Security Agreement” shall mean the Security Agreement as defined in the
ABL Credit Agreement, as in effect on the Restatement Effective Date, as the same may be amended,
modified, extended, renewed, replaced, restated, supplemented or refinanced from

 

 

Page 6

time to time, in accordance with the terms thereof, the Credit Agreement and the Intercreditor
Agreement.

          “Administrative Agent” shall have the meaning set forth in the recitals
hereto.

          “Adverse
Claim” shall have the meaning given such term in Section 8-102(a)(1) of the UCC.

          “Agreement” shall mean this U.S. Pledge Agreement, as the same may be amended, modified,
restated and/or supplemented from time to time in accordance with its terms.

          “Bermuda Borrower” shall have the meaning set forth in the recitals
hereto.

          “Borrowers” shall have the meaning set forth in the recitals hereto.

          “Certificated Security” shall have the meaning given such term in Section
8-102(a)(4)of the UCC.

          “Class” shall have the meaning set forth in Section 22 hereof.

          “Clearing Corporation” shall have the meaning given such term in Section
8-102(a)(5)of the UCC.

          “Collateral” shall have the meaning set forth in Section 3.1 hereof.

          “Collateral Accounts” shall mean any and all accounts established and maintained by
the Pledgee in the name of any Pledgor to which Collateral may be credited.

          “Credit Agreement” shall have the meaning set forth in the recitals hereto.

          “Credit
Document Obligations” shall have the meaning set forth in Section 1(i)(A)
hereof.

          “Credit Document Obligations Termination Date” shall mean that date upon which all
Credit Document Obligations (other than indemnities for which no claim has been made) have been
paid in full and all Commitments, Letters of Credit and Bank Guaranties under the Credit Agreement
have been terminated.

          “Credit Documents” shall have the meaning provided in the Credit Agreement and shall
include any documentation executed and delivered in connection with any replacement or refinancing
of the Credit Agreement.

          “DBAG” shall have the meaning provided in the first paragraph hereof.

          “DBSI” shall have the meaning provided in the recitals to this Agreement.

          “Deposit Bank” shall have the meaning provided in the recitals to this Agreement.

 

 

Page 7

          “Documentation Agent” shall have the meaning provided in the recitals to this
Agreement.

          “Domestic Corporation” shall have the meaning set forth in the definition of “Stock”.

          “Event of Default” shall mean (i) any Event of Default under, and as defined in the
Credit Agreement, (ii) any payment default on any of the Hedging Obligations after the expiration
of any applicable grace period and (iii) following the Credit Document Obligations Termination
Date, any Event of Default under, and as defined in, the Intermediate Holdco Credit Agreement (if
same remains in effect).

          “Excess Exempted Foreign Entity Voting Equity Interests” shall have the meaning
provided in Section 3.1(i).

          “Excluded Collateral” shall have the meaning provided in the Credit
Agreement.

          “Excluded Proceeds” means, at any time, all cash Proceeds received by any Pledgor
from any sale of Collateral where the respective Collateral is released pursuant to the provisions
of Section 20(b) of this Agreement and such Proceeds are applied (or required to be applied) to
pay Credit Document Obligations and/or ABL Credit Document Obligations, in each case in accordance
with the requirements of the Credit Agreement.

          “Exempted Foreign Entity” shall mean any Foreign Corporation and any limited
liability company organized under the laws of a jurisdiction other than the United States or any
State or territory thereof that, in any such case, is treated as a corporation or an association
taxable as a corporation for U.S. Federal income tax purposes.

          “Financial Asset” shall have the meaning given such term in Section 8-102(a)(9) of the UCC.

          “Foreign Corporation” shall have the meaning set forth in the definition of “Stock”.

          “Hedging Creditors” shall have the meaning provided in the recitals of this
Agreement.

          “Hedging Obligations” shall have the meaning set forth in Section 1 (i)(B)
hereof.

          “Hedging Obligations Termination Date” shall mean the date upon which all Interest
Rate Protection Agreements and Other Hedging Agreements entered into with any Hedging Creditors
have been terminated and all Hedging Obligations (other than indemnities under the Credit
Documents which are not then due and payable) then due and payable have been paid in full.

          “Holdings” shall have the meaning set forth in the recitals hereto.

          “Indemnitees” shall have the meaning set forth in Section 11 hereof.

 

 

Page 8

          “Instrument” shall have the meaning given such term in Section 9-102(a)(47) of the UCC.

          “Intermediate Holdco Administrative Agent” shall have the meaning provided in the
recitals to this Agreement.

          “Intermediate Holdco Collateral” shall mean the capital stock of the U.S. Borrower
owned by Intermediate Holdco and any Proceeds thereof.

          “Intermediate Holdco Collateral Agent” has the meaning provided in the first
paragraph hereof.

          “Intermediate Holdco Credit Agreement” shall have the meaning provided in the
recitals to this Agreement.

          “Intermediate Holdco Credit Document Obligations” shall have the meaning provided in
Section 1(ii) hereof.

          “Intermediate Holdco Creditors” shall mean the Intermediate Holdco Administrative
Agent, the Intermediate Holdco Collateral Agent and the Intermediate Holdco Lenders.

          “Intermediate Holdco Lenders” shall mean the “Lenders” as defined in the Intermediate
Holdco Credit Agreement.

          “Intermediate Holdco Notes” shall mean the “Notes” as defined in the Intermediate
Holdco Credit Agreement.

          “Intermediate Holdco Priority Obligations” shall mean all Credit Document
Obligations, all Hedging Obligations and all ABL Credit Document Obligations.

          “Intermediate Holdco Required Lenders” shall mean the Required Lenders under, and as
defined in, the Intermediate Holdco Credit Agreement.

          “Investment Property” shall have the meaning given such term in Section
9-102(a)(49)of the UCC.

          “Lead Arranger” shall have the meaning set forth in the recitals hereto.

          “Lender Creditors” shall have the meaning set forth in the recitals
hereto.

          “Lenders” shall have the meaning set forth in the recitals hereto.

          “Limited Liability Company Assets” shall mean all assets, whether tangible or
intangible and whether real, personal or mixed (including, without limitation, all limited
liability company capital and interest in other limited liability companies), at any time owned by
any Pledgor or represented by any Limited Liability Company Interest.

 

 

Page 9

          “Limited Liability Company Interests” shall mean the entire limited liability company
interest at any time owned by any Pledgor in any limited liability
company; provided that
the term “Limited Liability Company Interest” shall not include any limited liability company
interest in any limited liability company that is not a Subsidiary of such Pledgor to the extent
(and only to the extent) the amount invested in such limited liability company interests owned or
held by such Pledgor does not exceed $1,000,000.

          “Location” of any Pledgor shall mean such Pledgor’s “location” as determined pursuant to
Section 9-307 of the UCC.

          “Non-Voting Equity Interests” shall mean all Equity Interests of any Person which are
not Voting Equity Interests.

          “Notes” shall mean (x) all intercompany notes at any time issued to each Pledgor and (y) all
other promissory notes from time to time issued to, or held by, each Pledgor.

          “Obligations” shall have the meaning set forth in Section 1 hereof.

          “Partnership Assets” shall mean all assets, whether tangible or intangible and whether
real, personal or mixed (including, without limitation, all partnership capital and interest in
other partnerships), at any time owned by any Pledgor or represented by any Partnership Interest.

          “Partnership Interest” shall mean the entire general partnership interest or limited
partnership interest at any time owned by any Pledgor in any general partnership or limited
partnership; provided that the term “Partnership Interest” shall not include any
partnership interest in any partnership that is not a Subsidiary of such Pledgor to the extent
(and only to the extent) the amount invested in such partnership interests owned or held by such
Pledgor does not exceed $1,000,000.

          “Pledged Limited Liability Company Interests” shall mean all Limited Liability
Company Interests at any time pledged or required to be pledged hereunder.

          “Pledged Notes” shall mean all Notes at any time pledged or required to be pledged hereunder.

          “Pledged Partnership Interests” shall mean all Partnership Interest at any time
pledged or required to be pledged hereunder.

          “Pledged Securities” shall mean all Securities at any time pledged or required to be
pledged hereunder.

          “Pledged Stock” shall mean all Stock at any time pledged or required to be pledged hereunder.

          “Pledgee” shall have the meaning set forth in the first paragraph hereof.

          “Pledgor” shall have the meaning set forth in the first paragraph hereof.

 

 

Page 10

          “Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the UCC.

          “Pro Rata Share” shall have the meaning provided in Section 9(b) hereof.

          “Registered Organization” shall have the meaning given such term in Section
9-102(a)(70) of the UCC.

          “Required Lenders” shall have the meaning given such term in the Credit Agreement.

          “Requisite Creditors” shall have the meaning set forth in Section 22 hereof.

          “Required Secured Creditors” shall mean (i) at any time prior to the Credit Document
Obligations Termination Date, the Required Lenders (or, to the extent provided in Section 13.12 of
the Credit Agreement, each of the Lenders), (ii) at any time on and after the Credit Document
Obligations Termination Date, the holders of a majority of the Hedging Obligations and (iii) at all
times on and after the Credit Document Obligations Termination Date and the Hedging Obligations
Termination Date, but only if unpaid obligations are then due and payable pursuant to the
Intermediate Holdco Credit Document, and only with respect to collateral securing the Intermediate
Holdco Credit Document Obligations pursuant to this Agreement and required applications with
respect thereto pursuant to Section 7.4 of the U.S. Security Agreement, the Intermediate Holdco
Required Lenders (or, to the extent provided in the Intermediate Holdco Credit Agreement, each
Intermediate Holdco Lender).

          “Secured Creditors” shall mean, collectively, the Lender Creditors and Hedging
Creditors and, for purposes of the pledges, security interests and agreements provided herein by
Intermediate Holdco only (and any distributions required to be made hereunder with respect to
Intermediate Holdco Collateral provided hereunder in accordance with Section 7.4 of the U.S.
Security Agreement), the Intermediate Holdco Creditors.

          “Secured Debt Agreements” shall mean and include the TL Secured Financing Documents
and, for purposes of this Agreement only (and any distributions required to be made hereunder in
accordance with Section 7.4 of the U.S. Security Agreement), the Intermediate Holdco Secured
Financing Documents.

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

          “Securities Intermediary” shall have the meaning given such term in Section 8-102(14)
of the UCC.

          “Security” and “Securities” shall have the meaning given such term in Section 8-102(a)(15) of
the UCC and shall in any event include all Stock and Notes (to the extent same constitute
“Securities” under Section 8-102(a)(15)).

          “Security Entitlement” shall have the meaning given such term in Section
8-102(a)(17)of the UCC.

 

 

Page 11

          “Specified Default” shall have the meaning set forth in Section 5 hereof.

          “Stock” shall mean (x) with respect to corporations incorporated under the laws of the United
States or any State or territory thereof or the District of Columbia (each, a “Domestic
Corporation”), all of the issued and outstanding shares of capital stock of any Domestic
Corporation at any time owned by any Pledgor and (y) with respect to corporations not Domestic
Corporations (each, a “Foreign Corporation”), all of the issued and outstanding shares of capital
stock of any Foreign Corporation at any time owned by any Pledgor, provided that the term
“Stock” shall not include any capital stock of a corporation that is not a Subsidiary of such
Pledgor to the extent (and only to the extent) the amount invested in all such capital stock owned
or held by such Pledgor does not exceed $1,000,000.

          “Syndication Agent” shall have the meaning provided in the recitals to this
Agreement.

          “Termination Date” shall have the meaning set forth in Section 20 hereof.

          “TL Creditors” shall mean, collectively, the Lender Creditors and the Hedging Creditors.

          “TL
Obligations” shall have the meaning set forth in Section 1(i)(B) hereof.

          “TL Obligations Termination Date” shall mean the first date upon which both the
Credit Document Obligations Termination Date and the Hedging Obligations Termination Date have
occurred.

          “TL Secured Financing Documents” shall mean and include (i) this Agreement, (ii) the
other Credit Documents and (iii) the Interest Rate Protection Agreements and Other Hedging
Agreements entered into with one or more Hedging Creditors.

          “Transmitting Utility” has the meaning given such term in Section 9-102(a)(80) of the
UCC.

          “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time
to time; provided that all references herein to specific Sections or subsections of the
UCC are references to such Sections or subsections, as the case may be, of the Uniform Commercial
Code as in effect in the State of New York on the Restatement Effective Date.

          “Uncertificated Security” shall have the meaning given such term in Section
8-102(a)(18) of the UCC.

          “U.S. Borrower” shall have the meaning set forth in the recitals hereto.

          “Voting Equity Interests” of any Person shall mean all classes of Equity Interests of
such Person entitled to vote.

          3.
PLEDGE OF SECURITIES, ETC.

 

 

Page 12

          3.1 Pledge. (i) To secure the Obligations (other than the Intermediate Holdco Credit
Document Obligations) now or hereafter owed or to be performed by such Pledgor (but subject to
clause (x) of the proviso at the end of this Section 3.1(i) in the case of Voting Equity Interests
of Exempted Foreign Entities pledged hereunder), each Pledgor does hereby grant, pledge and assign
to the Pledgee for the benefit of the TL Creditors, and does hereby create a continuing security
interest (subject to those Liens permitted to exist with respect to the Collateral pursuant to the
terms of all Secured Debt Agreements then in effect) in favor of the Pledgee for the benefit of
the TL Creditors in, all of its right, title and interest in and to the following, whether now
existing or hereafter from time to time acquired (collectively, the “Collateral”):

     (a) each of the Collateral Accounts (to the extent a security interest therein is
not created pursuant to the U.S. Security Agreement), including any and all assets of
whatever type or kind deposited by such Pledgor in any such Collateral Account, whether
now owned or hereafter acquired, existing or arising, including, without limitation,
all Financial Assets, Investment Property, monies, checks, drafts, Instruments, Securities
or interests therein of any type or nature deposited or required by the Credit Agreement
or any other Secured Debt Agreement to be deposited in such Collateral Account, and all
investments and all certificates and other Instruments (including depository receipts,
if any) from time to time representing or evidencing the same, and all dividends,
interest, distributions, cash and other property from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of the foregoing;

     (b) all Securities owned or held by such Pledgor from time to time and all
options and warrants owned by such Pledgor from time to time to purchase Securities;

     (c) all Limited Liability Company Interests owned by such Pledgor from time
to time and all of its right, title and interest in each limited liability company to
which each such Limited Liability Company Interest relates, whether now existing or hereafter
acquired, including, without limitation, to the fullest extent permitted under the
terms and provisions of the documents and agreements governing such Limited Liability Company
Interests and applicable law:

     (A) all its capital therein and its interest in all profits, income,
surpluses, losses, Limited Liability Company Assets and other distributions to
which such Pledgor shall at any time be entitled in respect of such Limited
Liability Company Interests;

     (B) all other payments due or to become due to such Pledgor in respect
of Limited Liability Company Interests, whether under any limited liability company agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise;

     (C) all of its claims, rights, powers, privileges, authority, options,
security interests, liens and remedies, if any, under any limited liability
company agreement or operating agreement, or at law or otherwise in respect of such
Limited Liability Company Interests;

 

 

Page 13

     (D) all present and future claims, if any, of such Pledgor against any such limited liability company for
monies loaned or advanced, for services rendered or otherwise;

     (E) all of such Pledgor’s rights under any limited liability company agreement or operating agreement or at
law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating
to such Limited Liability Company Interests, including any power to terminate, cancel or modify any such limited
liability company agreement or operating agreement, to execute any instruments and to take any and all other action on
behalf of and in the name of any of such Pledgor in respect of such Limited Liability Company
Interests and any such limited liability company, to make determinations, to exercise any election
(including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval,
together with full power and authority to demand, receive, enforce, collect or receipt for any of the foregoing or for any Limited Liability
Company Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection
with any of the foregoing; and

     (F) all other property hereafter delivered in substitution for or in addition to any of the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all thereof;

     (d) all Partnership Interests owned by such Pledgor from time to time and all of its
right, title and interest in each partnership to which each such Partnership Interest
relates, whether now existing or hereafter acquired, including, without limitation, to the
fullest extent permitted under the terms and provisions of the documents and agreements
governing such Partnership Interests and applicable law:

     (A) all its capital therein and its interest in all profits, income, surpluses, losses, Partnership Assets and other distributions to which such Pledgor shall at any time be entitled in respect of such Partnership Interests;

     (B) all other payments due or to become due to such Pledgor in respect of Partnership Interests, whether under any partnership agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise;

     (C) all of its claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under any partnership agreement or operating agreement, or at law or otherwise in respect of such Partnership Interests;

     (D) all present and future claims, if any, of such Pledgor against any such partnership for monies loaned or advanced, for services rendered or otherwise; 

 

 

Page 14

     (E) all of such Pledgor’s rights under any partnership agreement or operating agreement or at law to
exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Partnership
Interests, including any power to terminate, cancel or modify any partnership agreement or operating agreement, to execute any
instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of such
Partnership Interests and any such partnership, to make determinations, to exercise any election (including, but not limited to, election
of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and authority
to demand, receive, enforce, collect or receipt for any of the foregoing or for any Partnership Asset, to enforce or execute any checks, or
other instruments or orders, to file any claims and to take any action in connection with any of the foregoing; and

     (F) all other property hereafter delivered in substitution for or in addition to any of the foregoing,
all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights
and other property at any time and from time to time received,
receivable or
otherwise distributed in respect of or in exchange for any or all thereof;

     (e) all Financial Assets and Investment Property owned by such Pledgor from
time to time;

     (f) all Security Entitlements owned by such Pledgor from time to time in any
and all of the foregoing; and

     (g) all Proceeds (other than Excluded Proceeds) of any and all of the
foregoing;

provided that (x) except in the circumstances and to the extent provided by Section 8.12 of
the Credit Agreement (in which case this clause (x) shall no longer be applicable), to the extent
Voting Equity Interests of any Exempted Foreign Entity is pledged hereunder which represents more
than 65% of the total combined voting power of all classes of Voting Equity Interests of the
respective Exempted Foreign Entity (with all Voting Equity Interests of the respective Exempted
Foreign Entity in excess of said 65% limit being herein called “Excess Exempted Foreign Entity
Equity Interests”), such Excess Exempted Foreign Entity Equity Interests shall secure
Obligations of the respective Pledgor only as a guarantor of the Obligations of the Bermuda
Borrower, and shall not secure any direct Obligations of the U.S. Borrower (or guarantees of such
Obligations by the respective Pledgor), (y) each Pledgor shall be required to pledge hereunder 100%
of the Non-Voting Equity Interests of each Exempted Foreign Entity at any time and from time to
time acquired by such Pledgor, which Non-Voting Equity Interests shall not be subject to the
limitations described in preceding clause (x) and (z) notwithstanding (i) anything to the contrary
contained above in this Section 3.1, the security interest created pursuant to this Agreement shall
not extend to, and the term “Collateral” shall not include (A) Excluded Collateral owned or held by
any Pledgor and (B) any Instruments received in connection with grower loans extended in accordance
with Section 9.05 of the Credit Agreement to the extent local law or the relevant grower loan
documents prohibit such pledge, and (ii) anything to the

 

 

Page 15

contrary contained in this Agreement, such Pledgor shall not be required to pledge any Notes
hereunder with an outstanding principal amount of $500,000 or less, provided that no more
than $2,500,000 in aggregate principal amount for all such Notes for all Pledgors hereunder
(including, for this purpose, any Instruments (as defined in the U.S. Security Agreement) not
required to be delivered pursuant to the U.S. Security Agreement) shall be excluded from the
pledge and delivery requirements under this Agreement.

          (ii) To secure the Intermediate Holdco Credit Document Obligations now or hereafter to be
performed by Corporate Holdco and Intermediate Holdco, Intermediate Holdco does hereby grant,
pledge and assign to the Pledgee for the benefit of the Intermediate Holdco Creditors, and does
hereby create a continuing security interest (subject to those Liens permitted to exist with
respect to the Intermediate Holdco Collateral pursuant to the Secured Debt Agreements and subject
to clause (iv) below) in favor of the Pledgee for the benefit of the Intermediate Holdco Creditors
in all of its right, title and interest in and to all of the Stock of the U.S. Borrower whether now
or hereafter owned by Intermediate Holdco and any Proceeds (other than Excluded Proceeds) thereof.

          (iii) Notwithstanding anything to the contrary contained above in this Section 3.1, it is
understood, acknowledged and agreed that the Intermediate Holdco Creditors shall not have a
security interest in, and the grant of security interests pursuant to this Section 3.1 for the
benefit of the Intermediate Holdco Creditors shall not extend to, any Collateral other than the
Intermediate Holdco Collateral.

          (iv) Notwithstanding anything to the contrary contained in this Section 3.1 or elsewhere in
this Agreement, each Pledgor and the Pledgee (on behalf of the Secured Creditors) acknowledges and
agrees that:

     (x) the security interest granted pursuant to this Agreement (including
pursuant to this Section 3.1) to the Pledgee for the benefit of the Secured
Creditors (i) in the TL Priority Collateral, shall be a First Priority Lien
and (ii) in the ABL Priority Collateral, shall be a Second Priority Lien in
the ABL Priority Collateral fully junior, subordinated and subject to the
security interest granted to the ABL Collateral Agent (as defined in the
Intercreditor Agreement) for the benefit of the ABL Secured Parties in the ABL
Priority Collateral on the terms and conditions set forth in the ABL Credit
Documents and the Intercreditor Agreement and all other rights and benefits
afforded hereunder to the Secured Creditors with respect to the ABL Priority
Collateral are expressly subject to the terms and conditions of the
Intercreditor Agreement; and

     (y) the TL Creditors’ security interests in the Collateral constitute
security interests separate and apart (and of a different class and claim)
from the ABL Secured Parties’ security interests in the Collateral.

          3.2 Procedures. (a) To the extent that any Pledgor at any time or from time to time
owns, acquires or obtains any right, title or interest in any Collateral, such Collateral shall
automatically (and without the taking of any action by such Pledgor) be pledged pursuant to

 

 

Page 16

Section 3.1 of this Agreement and, in addition thereto (but subject to the terms of the
Intercreditor Agreement), such Pledgor shall (to the extent provided below and not inconsistent
with the terms of the Intercreditor Agreement) take the following actions with respect to such
Collateral as set forth below (as promptly as practicable and, in any event, within 10 days after
it obtains such Collateral) for the benefit of the Pledgee and the other Secured Creditors:

     (i) with respect to a Certificated Security (other than a Certificated Security
credited on the books of a Clearing Corporation or Securities Intermediary), such Pledgor
shall physically deliver such Certificated Security to the Pledgee, endorsed to the Pledgee
or endorsed in blank;

     (ii) with respect to an Uncertificated Security (other than an Uncertificated Security
credited on the books of a Clearing Corporation or Securities Intermediary), such Pledgor
shall cause the issuer of such Uncertificated Security to duly authorize, execute, and
deliver to the Pledgee, an agreement for the benefit of the Pledgee and the other Secured
Creditors substantially in the form of Annex H hereto (appropriately completed to the
satisfaction of the Pledgee and with such modifications, if any, as shall be satisfactory
to the Pledgee) pursuant to which such issuer agrees to comply with any and all
instructions originated by the Pledgee without further consent by the registered owner and
not to comply with instructions regarding such Uncertificated Security (and any Partnership
Interests and Limited Liability Company Interests issued by such issuer) originated by any
other Person other than a court of competent jurisdiction;

     (iii) with respect to a Certificated Security, Uncertificated Security, Partnership
Interest or Limited Liability Company Interest credited on the books of a Clearing
Corporation or Securities Intermediary (including a Federal Reserve Bank, Participants
Trust Company or The Depository Trust Company), such Pledgor shall promptly notify the
Pledgee thereof and shall promptly take (x) all actions required (i) to comply with the
applicable rules of such Clearing Corporation or Securities Intermediary and (ii) to
perfect the security interest of the Pledgee under applicable law (including, in any event,
under Sections 9-314(a), (b) and (c), 9-106 and 8-106(d) of the UCC) and (y) such other
actions as the Pledgee deems necessary or desirable to effect the foregoing;

     (iv) with respect to a Partnership Interest or a Limited Liability Company Interest
(other than a Partnership Interest or Limited Liability Company Interest credited on the
books of a Clearing Corporation or Securities Intermediary), (1) if such Partnership
Interest or Limited Liability Company Interest is represented by a certificate and is a
Security for purposes of the UCC, the procedure set forth in Section 3.2(a)(i) hereof, and
(2) if such Partnership Interest or Limited Liability Company Interest is not represented
by a certificate or is not a Security for purposes of the UCC, the procedure set forth in
Section 3.2(a)(ii) hereof;

     (v) with respect to any Note, physical delivery of such Note to the Pledgee, endorsed
in blank, or, at the request of the Pledgee, endorsed to the Pledgee; and

     (vi) with respect to cash proceeds from any of the Collateral described in Section 3.1
hereof, (i) establishment by the Pledgee, upon a Specified Default or Event of

 

 

Page 17

Default, of a cash account in the name of such Pledgor over which the Pledgee shall (to the
extent not inconsistent with the Intercreditor Agreement) have “control” within the meaning
of the UCC and from which no withdrawals or transfers may be made by any Person except with
the prior written consent of the Pledgee (subject to the terms of the Intercreditor
Agreement) and (ii) deposit of such cash in such cash account.

          (b) In addition to the actions required to be taken pursuant to Section 3.2(a) hereof, each
Pledgor shall take the following additional actions with respect to the Collateral:

     (i) with respect to all Collateral of such Pledgor whereby or with respect to which
the Pledgee may obtain “control” thereof within the meaning of Section 8-106 of the UCC
(or under any provision of the UCC as same may be amended or supplemented from time to
time, or under the laws of any relevant State other than the State of New York), such
Pledgor shall take all actions (to the extent not inconsistent with the Intercreditor
Agreement) as may be reasonably requested from time to time by the Pledgee so that
“control” of such Collateral is obtained and at all times held by the Pledgee; and

     (ii) each Pledgor shall from time to time cause appropriate financing statements
(on appropriate forms) under the Uniform Commercial Code as in effect in the various
relevant States, covering all Collateral hereunder (with the form of such financing
statements to be satisfactory to the Pledgee), to be filed in the relevant filing
offices so that at all times the Pledgee’s security interest in all Investment Property
and other Collateral which can be perfected by the filing of such financing statements
(in each case to the maximum extent perfection by filing may be obtained under the laws
of the relevant States, including, without limitation, Section 9-312(a) of the UCC) is
so perfected.

          3.3 Subsequently Acquired Collateral. If any Pledgor shall acquire (by purchase, stock
dividend, distribution or otherwise) any additional Collateral at any time or from time to time
after the date hereof, such Collateral shall automatically (and without any further action being
required to be taken) be subject to the pledge and security interests created pursuant to Section
3.1 hereof and, furthermore, such Pledgor will, to the extent not inconsistent with the
Intercreditor Agreement, thereafter take (or cause to be taken) all action (as promptly as
practicable and, in any event, within 10 days after it obtains such Collateral) with respect to
such Collateral in accordance with the procedures set forth in Section 3.2 hereof, and will to the
extent not inconsistent with the terms of the Intercreditor Agreement, promptly thereafter deliver
to the Pledgee (i) a certificate executed by an authorized officer of such Pledgor describing such
Collateral and certifying that the same has been duly pledged in favor of the Pledgee (for the
benefit of the Secured Creditors) hereunder and (ii) supplements to Annexes A through G hereto as
are necessary to cause such Annexes to be complete and accurate at such time, provided,
however, that in the event that such Collateral constitutes Stock, Limited Liability Company
Interests and/or Partnership Interests of a Shell Corporation, such actions shall not be required
to be taken until 60 days after formation, creation, or establishment of such Shell Corporation.
Without limiting the foregoing, each Pledgor shall be required to pledge hereunder the Equity
Interests of any Exempted Foreign Entity at any time and from time to time after the date hereof
acquired by such Pledgor, provided that (x) any such pledge of Voting Equity Interests of
any

 

 

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Exempted Foreign Entity shall be subject to the provisions of clause (x) of the proviso to Section
3.1(i) hereof, (y) each Pledgor shall be required to pledge hereunder 100% of the Non-Voting
Equity Interests of each Exempted Foreign Entity at any time and from time to time acquired by
such Pledgor and (z) each Pledgor shall be required to pledge hereunder any Notes at any time and
from time to time after the date hereof acquired by such Pledgor, provided that any such
pledge or Note shall be subject to the provisions of clause (z)(ii) of the proviso to Section
3.1(i) hereof.

          3.4 Transfer Taxes. Each pledge of Collateral under Section 3.1 or Section 3.3 hereof shall be accompanied by any transfer tax stamps
required in connection with the pledge of such Collateral.

          3.5 Certain Representations and Warranties Regarding the Collateral. Each Pledgor that was a Pledgor on the Restatement
Effective Date (each, an “Initial Pledgor”) represents and warrants that as of the Restatement Effective Date: (i) each Subsidiary of such Pledgor,
and the direct ownership thereof, is listed in Annex B hereto; (ii) the Pledged Stock (and any warrants or options to purchase Pledged Stock) held by such Pledgor consists of the number and type of shares of the stock (or warrants or options to purchase any stock) of the corporations as described in Annex C hereto; (iii) such Pledged Stock referenced in clause (ii) of this paragraph constitutes that percentage of the issued and outstanding capital stock of the
issuing corporation as is set forth in Annex C hereto; (iv) the Pledged Notes held by such Pledgor consist of the promissory notes described in Annex D hereto where such Pledgor is listed as the lender; (v) the Pledged Limited Liability Company Interests held by such Pledgor consist of the number and type of interests of the Persons described in Annex E hereto; (vi) each such Pledged Limited Liability Company Interest referenced in clause (v) of this paragraph
constitutes
that percentage of the issued and outstanding equity interest of the issuing Person as set forth in Annex E hereto; (vii) the Pledged Partnership Interests held by such Pledgor consist of the number and type of interests of the Persons described in Annex F hereto; (viii) each such Pledged Partnership Interest referenced in clause (vii) of this paragraph constitutes that percentage or portion of the entire partnership interest of the issuing Person as set forth in Annex F
hereto; (ix) the exact address of each chief executive office of such Pledgor is listed on Annex G hereto; (x) the Pledgor has complied with the respective procedure set forth in Section 3.2(a) hereof with respect to each item of Collateral described in Annexes C through F hereto; and (xi) on the date hereof, such Pledgor owns no other Pledged Securities, Pledged Stock, Pledged Notes, Pledged Limited Liability Company Interests or Pledged Partnership Interests.

          3.6 Overriding Provisions with respect to ABL Priority Collateral. Notwithstanding anything to the contrary contained above
in this Section 3, or elsewhere in this Agreement or any other Security Document, to the extent the provisions of this Agreement (or
any other Security Documents) require the delivery of, or control over, ABL Priority Collateral to be granted to the Pledgee at any time
prior to the ABL Credit Documents Obligations Termination Date, then delivery of such ABL Priority Collateral (or control with respect thereto)
shall instead be granted to the ABL Collateral Agent, to be held in accordance with the ABL Credit Documents and the Intercreditor Agreement.
Furthermore, at all times prior to the ABL Credit Document Obligations Termination Date, the Collateral Agent is authorized by the parties hereto to
effect transfers of ABL Priority Collateral at any time in its possession (and any

 

 

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“control” or similar agreements with respect to ABL Priority Collateral) to the ABL Collateral
Agent.

          4. APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC. The Pledgee shall have the right to appoint one or more sub-agents for the
purpose of retaining physical possession of the Collateral, which may be held (in the discretion of the Pledgee) in the name of the relevant
Pledgor, endorsed or assigned in blank or in favor of the Pledgee or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee.

          5.
VOTING, ETC., WHILE NO EVENT OF DEFAULT OR SPECIFIED DEFAULT. Unless and until there shall have occurred and be
continuing any Event of Default under the Credit Agreement or a Default under Section 10.01 or 10.05 of the Credit Agreement
(each such Default, a “Specified Default”), each Pledgor shall be entitled to exercise any and all voting and other consensual rights
pertaining to the Collateral owned by it, and to give consents, waivers or ratifications in respect thereof; provided
that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which
would violate, result in a breach of any covenant contained in, or be inconsistent in any material respect with any of the terms of the
Intercreditor Agreement or any Secured Debt Agreement, or which could reasonably be expected to have the effect of impairing the value of the
Collateral or any part thereof or the position or interests of the Pledgee or any other Secured Creditor in the Collateral, unless expressly
permitted by the terms of the Intercreditor Agreement or the TL Secured Financing Documents. All such rights of each Pledgor to vote and to give
consents, waivers and ratifications shall cease in case an Event of Default has occurred and is continuing, and Section 7 hereof shall become applicable.

          6. DIVIDENDS AND OTHER DISTRIBUTIONS. Subject to the terms of the Intercreditor Agreement, unless and until there shall have occurred and be
continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall
be paid to the respective Pledgor, provided that all cash dividends payable in respect of the Pledged Stock which are determined by the Pledgee
to represent in whole or in part an extraordinary, liquidating or other distribution in return of capital shall be paid, to the extent so determined to
represent an extraordinary, liquidating or other distribution in return of capital, to the Pledgee and retained by it as part of the Collateral. Subject
to the terms of the Intercreditor Agreement, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral, subject to the
other terms of this Agreement:

     (i) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash dividends other than as set forth above) paid or distributed by
way of dividend or otherwise in respect of the Collateral;

     (ii) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash (although such cash may be paid directly to the respective Pledgor
so long as no Event of Default then exists)) paid or distributed in respect of the
Collateral by way of stock-split, spin-off, split-up, reclassification, combination of
shares or similar rearrangement; and

 

 

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     (iii) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash) which may be paid in respect of the Collateral by reason of any
consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar
corporate or other reorganization.

Except as set forth in the Intercreditor Agreement, nothing contained in this Section 6 shall limit
or restrict in any way the Pledgee’s right to receive the proceeds of the Collateral in any form in
accordance with Section 3 of this Agreement. To the extent not inconsistent with the terms of the
Intercreditor Agreement, all dividends, distributions or other payments which are received by any
Pledgor contrary to the provisions of this Section 6 or Section 7 hereof shall be received in trust
for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor
and shall be forthwith paid over to the Pledgee as Collateral in the same form as so received (with
any necessary endorsement).

          7. REMEDIES IN CASE OF AN EVENT OF DEFAULT OR A SPECIFIED DEFAULT. (a) If there shall
have occurred and be continuing an Event of Default, then and in every such case, to the extent
not inconsistent with the terms of the Intercreditor Agreement, the Pledgee shall be entitled to
exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other
Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of
the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a
secured party under the UCC as in effect in any relevant jurisdiction and also shall be entitled,
without limitation, to exercise the following rights, which each Pledgor hereby agrees to be
commercially reasonable:

     (i) to receive all amounts payable in respect of the Collateral otherwise payable
under Section 6 hereof to the respective Pledgor;

     (ii) to transfer all or any part of the Collateral into the Pledgee’s name or the name
of its nominee or nominees;

     (iii) to accelerate any Pledged Note which may be accelerated in accordance with its
terms, and take any other lawful action to collect upon any Pledged Note (including,
without limitation, to make any demand for payment thereon);

     (iv) to vote (and exercise all rights and powers in respect of voting) all or any part
of the Collateral (whether or not transferred into the name of the Pledgee) and give all
consents, waivers and ratifications in respect of the Collateral and otherwise act with
respect thereto as though it were the outright owner thereof (each Pledgor hereby
irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such
Pledgor, with full power of substitution to do so);

     (v) at any time and from time to time to sell, assign and deliver, or grant options to
purchase, all or any part of the Collateral, or any interest therein, at any public or
private sale, without demand of performance, advertisement or, notice of intention to sell
or of the time or place of sale or adjournment thereof or to redeem or otherwise purchase
or dispose (all of which are hereby waived by each Pledgor), for cash, on credit

 

 

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or for other property, for immediate or future delivery without any assumption of credit
risk, and for such price or prices and on such terms as the Pledgee in its absolute
discretion may determine, provided at least 10 days’ written notice of the time and
place of any such sale shall be given to the respective Pledgor. The Pledgee shall not be
obligated to make any such sale of Collateral regardless of whether any such notice of sale
has theretofore been given. Each Pledgor hereby waives and releases to the fullest extent
permitted by law any right or equity of redemption with respect to the Collateral, whether
before or after sale hereunder, and all rights, if any, of marshalling the Collateral and
any other security or the Obligations or otherwise. At any such sale, unless prohibited by
applicable law, the Pledgee on behalf of the Secured Creditors may bid for and purchase all
or any part of the Collateral so sold free from any such right or equity of redemption.
Neither the Pledgee nor any other Secured Creditor shall be liable for failure to collect
or realize upon any or all of the Collateral or for any delay in so doing nor shall any of
them be under any obligation to take any action whatsoever with regard thereto; and

     (vi) to set off any and all Collateral against any and all Obligations, and to
withdraw any and all cash or other Collateral from any and all Collateral Accounts and to
apply such cash and other Collateral to the payment of any and all Obligations.

          (b) If there shall have occurred and be continuing a Specified Default, then and in every
such case, the Pledgee shall be entitled to vote (and exercise all rights and powers in respect of
voting) all or any part of the Collateral (whether or not transferred into the name of the
Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and
otherwise act with respect thereto as though it were the outright owner thereof (each Pledgor
hereby irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such
Pledgor, with full power of substitution to do so).

          8. REMEDIES, CUMULATIVE, ETC. Subject to the terms of (and to the extent not
inconsistent with ) the Intercreditor Agreement, each and every right, power and remedy of the
Pledgee provided for in this Agreement or in any other Secured Debt Agreement, or now or hereafter
existing at law or in equity or by statute shall be cumulative and concurrent and shall be in
addition to every other such right, power or remedy. The exercise or beginning of the exercise by
the Pledgee or any other Secured Creditor of any one or more of the rights, powers or remedies
provided for in this Agreement or any other Secured Debt Agreement (including, without limitation,
the Intercreditor Agreement) or now or hereafter existing at law or in equity or by statute or
otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured
Creditor of all such other rights, powers or remedies, and no failure or delay on the part of the
Pledgee or any other Secured Creditor to exercise any such right, power or remedy shall operate as
a waiver thereof. No notice to or demand on any Pledgor in any case shall entitle it to any other
or further notice or demand in similar or other circumstances or constitute a waiver of any of the
rights of the Pledgee or any other Secured Creditor to any other or further action in any
circumstances without notice or demand. The Secured Creditors agree that this Agreement may be
enforced only by the action of the Pledgee, in each case, acting upon the instructions of the
Required Secured Creditors, and that no other Secured Creditor shall have any right individually to
seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby,
it being understood and agreed that such rights and remedies may

 

 

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be exercised by the Pledgee for the benefit of the Secured Creditors upon the terms of this
Agreement and the U.S. Security Agreement.

          9. APPLICATION OF PROCEEDS. (a) Subject to the terms of the Intercreditor Agreement, all monies collected by the Pledgee
upon any sale or other disposition of the Collateral pursuant to the terms of this Agreement, together with all other monies received
by the Pledgee hereunder, shall be applied in the manner provided in Section 7.4 of the U.S. Security Agreement.

          (b) It is understood that (i) the Pledgors shall remain jointly and severally liable to the extent of any deficiency between the
amount of the proceeds of the Collateral and the aggregate amount of the Obligations (other than the Intermediate Holdco Credit Document
Obligations), and (ii) Corporate Holdco and Intermediate Holdco shall remain jointly and severally liable to the extent of any deficiency between
the amount of the proceeds of the Intermediate Holdco Collateral and the aggregate amount of the Intermediate Holdco Credit Document Obligations.

          (c) It is understood and agreed by all parties hereto that the Pledgee shall have no liability for any determinations made by it in this Section
9 (including, without limitation, as to whether given Collateral constitutes TL Priority Collateral or ABL Priority Collateral), in each case except to
the extent resulting from the gross negligence or willful misconduct of the Pledgee (as determined by a court of competent jurisdiction in a final and
non-appealable decision). The parties also agree that the Pledgee may (but shall not be required to), at any time and in its sole discretion, and
with no liability resulting therefrom, petition a court of competent jurisdiction regarding any application of Collateral in accordance with the
requirements hereof and of the Intercreditor Agreement, and the Pledgee shall be entitled to wait for, and may conclusively rely on, any such
determination

          10. PURCHASERS OF COLLATERAL. Upon any sale of the Collateral by the Pledgee hereunder (whether by virtue of the power of sale herein
granted, pursuant to judicial process or otherwise), the receipt of the Pledgee or the officer making such sale shall be a sufficient discharge to
the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part
of the purchase money paid over to the Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof.

          11. INDEMNITY. Each Pledgor jointly and severally agrees (i) to indemnify, reimburse and hold harmless the Pledgee and each other Secured
Creditor and their respective successors, assigns, employees, agents and affiliates (individually an “Indemnitee”, and
collectively, the “Indemnitees”) from and against any and all obligations, damages, injuries, penalties, claims, demands, losses, judgments
and liabilities (including, without limitation, liabilities for penalties) of whatsoever kind or nature, and (ii) to reimburse each Indemnitee for
all reasonable costs, expenses and disbursements, including reasonable attorneys’ fees and expenses, in each case arising out of or resulting from
this Agreement or the exercise by any Indemnitee of any right or remedy granted to it hereunder or under any other TL Secured Financing Documents (but excluding any obligations, damages, injuries, penalties, claims, demands, losses, judgments and liabilities (including, without limitation, liabilities for penalties)

 

 

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or expenses of whatsoever kind or nature to the extent incurred or arising by reason of gross
negligence or willful misconduct of such Indemnitee (as determined by a court of competent
jurisdiction in a final and non-appealable decision)). In no event shall the Pledgee hereunder be
liable, in the absence of gross negligence or willful misconduct on its part (as determined by a
court of competent jurisdiction in a final and non-appealable decision), for any matter or thing
in connection with this Agreement other than to account for monies or other property actually
received by it in accordance with the terms hereof. If and to the extent that the obligations of
any Pledgor under this Section 11 are unenforceable for any reason, such Pledgor hereby agrees to
make the maximum contribution to the payment and satisfaction of such obligations which is
permissible under applicable law. The indemnity obligations of each Pledgor contained in this
Section 11 shall continue in full force and effect notwithstanding the full payment of all the
Notes issued under the Credit Agreement, the full payment of all of the outstanding Intermediate
Holdco Indebtedness, the termination of all Interest Rate Protection Agreements, Other Hedging
Agreements, Letters of Credit (and the full payment of all Unpaid Drawings), Bank Guaranties (and
the full payment of all Unreimbursed Payments), and the payment of all other Obligations and
notwithstanding the discharge thereof and the occurrence of the Termination Date.

          12. PLEDGEE NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER. (a) Nothing herein shall be construed to make the Pledgee or any other
Secured Creditor liable as a member of any limited liability company or as a partner of any partnership and neither the Pledgee nor any other Secured
Creditor by virtue of this Agreement or otherwise (except as referred to in the following sentence) shall have any of the duties, obligations or
liabilities of a member of any limited liability company or as a partner in any partnership. The parties hereto expressly agree that, unless the Pledgee shall become the absolute owner of Collateral consisting of a Limited Liability Company Interest or a Partnership Interest pursuant hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Pledgee, any other Secured Creditor, any Pledgor and/or any other Person.

          (b) Except as provided in the last sentence of paragraph (a) of this Section 12, the Pledgee, by accepting this Agreement, did not intend to become a member of any limited liability company or a partner of any partnership or otherwise be deemed to be a co-venturer with respect to any Pledgor, any limited liability company, partnership and/or any other Person either before or
after an Event of Default shall have occurred. The Pledgee shall have only those powers set forth herein and the Secured Creditors shall assume none of the duties, obligations or liabilities of a member of any limited liability company or as a partner of any partnership or any Pledgor except as provided in the last sentence of paragraph (a) of this Section 12.

          (c) The Pledgee and the other Secured Creditors shall not be obligated to perform or discharge any obligation of any Pledgor as a result of the pledge hereby effected.

          (d) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges and authority so created, shall not at any time or in any event obligate the Pledgee or any other Secured Creditor to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder, or
to expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral.

 

 

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          13. FURTHER ASSURANCES; POWER-OF-ATTORNEY. (a) Each Pledgor agrees that it will join with the Pledgee in executing and, at such Pledgor’s own
expense, file and refile under the UCC or other applicable law such financing statements, continuation statements and other documents, in form
reasonably acceptable to the Pledgee, in such offices as the Pledgee (acting on its own or on the instructions of the Required Secured Creditors) may
reasonably deem necessary or appropriate and wherever required or permitted by law in order to perfect and preserve the Pledgee’s security interest in
the Collateral hereunder and hereby authorizes the Pledgee to file financing statements and amendments thereto relative to all or any part of the
Collateral (including, without limitation, financing statements which list the Collateral specifically and/or “all assets” as collateral) without the
signature of such Pledgor where permitted by law, and agrees to do such further acts and things and to execute and deliver to the Pledgee such
additional conveyances, assignments, agreements and instruments as the Pledgee may reasonably require or deem advisable to carry into effect the
purposes of this Agreement or to further assure and confirm unto the Pledgee its rights, powers and remedies hereunder or thereunder.

          (b) Each Pledgor hereby constitutes and appoints the Pledgee its true and lawful attorney-in-fact, irrevocably, with full authority in the place and stead
of such Pledgor and in the name of such Pledgor or otherwise, from time to time after the occurrence and during the continuance of an Event of Default, in the Pledgee’s discretion, to act, require, demand, receive and give acquittance for any and all monies and claims for monies due or to become due to such Pledgor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or take any action or institute
any proceedings and to execute any instrument which the Pledgee may deem necessary or advisable to accomplish the purposes of this Agreement, which appointment as attorney is coupled with an interest.

          14. THE PLEDGEE AS COLLATERAL AGENT. Subject to the terms of the Intercreditor Agreement, the Pledgee will hold in accordance with this Agreement all items of the Collateral at any time received under
this Agreement. It is expressly understood, acknowledged and agreed by each Secured Creditor that by accepting the benefits of this Agreement each such Secured Creditor acknowledges and
 agrees that the obligations of the Pledgee as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Annex I hereto. The Pledgee shall act hereunder on the terms and conditions set forth herein and in Annex I hereto, the terms of which shall be deemed incorporated herein by reference as fully as if the same were set forth herein in its entirety.

          15. TRANSFER BY THE PLEDGORS. Except as permitted (i) prior to the Credit Document Obligations Termination Date,
 pursuant to the Credit Agreement, (ii) thereafter and prior to the TL Obligations Termination Date, pursuant to the other TL Secured Financing Documents, and (iii) thereafter, pursuant to the Intermediate Holdco Credit Documents, no Pledgor will sell or otherwise dispose of, grant any option with respect to, or mortgage, pledge or otherwise encumber any of the Collateral or any interest therein.

 

 

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          16. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGORS. (a) Each Pledgor
represents, warrants and covenants as to itself and each of its Subsidiaries that:

     (i) it is the legal, beneficial and record owner of, and has good and marketable title
to, all of its Collateral consisting of one or more Securities, Partnership Interests and
Limited Liability Company Interests and that it has sufficient ownership interest in all of
its Collateral in which a security interest is purported to be created hereunder for such
security interest to attach (subject, in each case, to no pledge, lien, mortgage,
hypothecation, security interest, charge, option, Adverse Claim or other encumbrance
whatsoever, except the liens and security interests created by this Agreement or permitted
under the Secured Debt Agreements);

     (ii) it has full Company power, authority and legal right to pledge all the Collateral
pledged by it pursuant to this Agreement;

     (iii) this Agreement has been duly authorized, executed and delivered by such Pledgor
and constitutes a legal, valid and binding obligation of such Pledgor enforceable against
such Pledgor in accordance with its terms, except to the extent that the enforceability
thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting creditors’ rights generally and by general equitable
principles (regardless of whether enforcement is sought in equity or at law);

     (iv) except to the extent already obtained or made, no consent of any other party
(including, without limitation, any stockholder, partner, member or creditor of such
Pledgor or any of its Subsidiaries) and no consent, license, permit, approval or
authorization of, exemption by, notice or report to, or registration, filing or declaration
with, any governmental authority is required to be obtained by such Pledgor in connection
with (a) the execution, delivery or performance of this Agreement by such Pledgor, (b) the
validity or enforceability of this Agreement against such Pledgor (except as set forth in
clause (iii) above), (c) the perfection or enforceability of the Pledgee’s security
interest in such Pledgor’s Collateral or (d) except for compliance with or as may be
required by applicable securities laws, the exercise by the Pledgee of any of its rights or
remedies provided herein;

     (v) neither the execution, delivery or performance by such Pledgor of this Agreement,
or any other Secured Debt Agreement to which it is a party, nor compliance by it with the
terms and provisions hereof and thereof nor the consummation of the transactions
contemplated therein: (i) will contravene any material provision of any applicable law,
statute, rule or regulation, or any applicable order, writ, injunction or decree of any
court, arbitrator or governmental instrumentality, domestic or foreign, applicable to such
Pledgor; (ii) will conflict or be inconsistent with or result in any breach of any of the
terms, covenants, conditions or provisions of, or constitute a default under, or result in
the creation or imposition of (or the obligation to create or impose) any Lien (except
pursuant to the Security Documents) upon any of the material properties or assets of such
Pledgor or any of its Subsidiaries pursuant to the terms of any indenture, lease, mortgage,
deed of trust, credit agreement, loan agreement or any other material agreement, contract or
other

 

 

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instrument to which such Pledgor or any of its Subsidiaries is a party or is otherwise
bound, or by which it or any of its material properties or assets is bound or to which it
may be subject; or (iii) will violate any provision of the certificate of incorporation,
bylaws, certificate of partnership, partnership agreement, certificate of formation or
limited liability company agreement (or equivalent organizational documents), as the case
may be, of such Pledgor or any of its Subsidiaries;

     (vi) all of such Pledgor’s Collateral consisting of Securities, Limited Liability
Company Interests and Partnership Interests has been duly and validly issued, is fully paid
and non-assessable and is subject to no options to purchase or similar rights;

     (vii) to such Pledgor’s knowledge, each of such Pledgor’s Pledged Notes constitutes,
or when executed by the obligor thereof will constitute, the legal, valid and binding
obligation of such obligor, enforceable in accordance with its terms, except to the extent
that the enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors’ rights generally and
by general equitable principles (regardless of whether enforcement is sought in equity or
at law);

     (viii) the pledge, collateral assignment and delivery to the Pledgee of such Pledgor’s
Collateral consisting of Certificated Securities and Pledged Notes pursuant to this
Agreement creates a valid and perfected first priority security interest in such
Certificated Securities and Pledged Notes, and the proceeds thereof, subject to no prior
Lien or encumbrance or to any agreement purporting to grant to any third party a Lien or
encumbrance on the property or assets of such Pledgor which would include the Securities
(other than the liens and security interests permitted under the TL Secured Financing
Documents then in effect) and the Pledgee is entitled to all the rights, priorities and
benefits afforded by the UCC or other relevant law as enacted in any relevant jurisdiction
to perfect security interests in respect of such Collateral; and

     (ix) “control” (as defined in Section 8-106 of the UCC) has been obtained by the
Pledgee over all of such Pledgor’s Collateral consisting of Securities (including, without
limitation, Pledged Notes which are Securities) with respect to which such “control” may be
obtained pursuant to Section 8-106 of the UCC, except to the extent that the obligation of
the applicable Pledgor to provide the Pledgee with “control” of such Collateral has not yet
arisen under this Agreement; provided that in the case of the Pledgee obtaining
“control” over Collateral consisting of a Security Entitlement, such Pledgor shall have
taken all steps in its control so that the Pledgee obtains “control” over such Security
Entitlement.

          (b) Each Pledgor covenants and agrees that it will defend the Pledgee’s right, title and
security interest in and to such Pledgor’s Collateral and the proceeds thereof against the claims
and demands of all persons whomsoever; and each Pledgor covenants and agrees that it will have
like title to and right to pledge any other property at any time hereafter pledged to the Pledgee
by such Pledgor as Collateral hereunder and will likewise defend the right thereto and security
interest therein of the Pledgee and the other Secured Creditors.

 

 

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          (c) Each Pledgor covenants and agrees that it will take no action which would violate any of the terms of any TL Secured Financing Document.

          17. LEGAL NAMES; TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A TRANSMITTING UTILITY); JURISDICTION
OF ORGANIZATION; LOCATION; ORGANIZATIONAL IDENTIFICATION NUMBERS; CHANGES THERETO; ETC. The exact legal name of each Initial Pledgor, the type of
organization of such Initial Pledgor, whether or not such Initial Pledgor is a Registered Organization, the jurisdiction of organization of such Initial
Pledgor, such Initial Pledgor’s Location, the organizational identification number (if any) of such Initial Pledgor, and whether or not such Initial
Pledgor is a Transmitting Utility, is listed on Annex A hereto for such Initial Pledgor as of the Restatement Effective Date. No Pledgor shall change
its legal name, its type of organization, its status as a Registered Organization (in the case of a Registered Organization), its status as a Transmitting
Utility or as a Person which is not a Transmitting Utility, as the case may be, its jurisdiction of organization, its Location, or its organizational
identification number (if any), except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the
TL Secured Financing Documents and so long as same do not involve (x) a Registered Organization ceasing to constitute same or (y) any Pledgor
changing its jurisdiction of organization or Location from the United States or a State thereof to a jurisdiction of organization or Location, as
the case may be, outside the United States or a State thereof) if (i) it shall have given to the Collateral Agent not less than 15 days’ prior written
notice of each change to the information listed on Annex A (as adjusted for any subsequent changes thereto previously made in accordance with this sentence), together with a supplement to Annex A which shall correct all information
contained therein for such Pledgor, and (ii) in connection with the respective change or changes, it shall have taken all action reasonably requested by the Collateral Agent to maintain the security interests of the Collateral Agent in the Collateral intended to be
granted hereby at all times fully perfected and in full force and effect. In addition, to the extent that any Pledgor does not have an organizational identification number on the date hereof and later obtains one, such Pledgor shall promptly thereafter deliver a notification of the Collateral Agent of such organizational identification number and shall take all actions reasonably satisfactory to the Collateral Agent to the extent necessary to maintain the security interest of the Collateral
Agent in the Collateral intended to be granted hereby fully perfected
and in full force and effect.;

          18. PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC. The obligations of each Pledgor under this Agreement shall be absolute
and unconditional and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged,
terminated or otherwise affected by, any circumstance or occurrence whatsoever (other than termination of this Agreement pursuant to
Section 20 hereof), including, without limitation:

     (i) any renewal, extension, amendment or modification of, or addition or supplement to
or deletion from any Secured Debt Agreement (other than this Agreement in accordance with
its terms), or any other instrument or agreement referred to therein, or any assignment or
transfer of any thereof;

     (ii) any waiver, consent, extension, indulgence or other action or inaction under or
in respect of any such agreement or instrument including, without limitation,

 

 

Page 28

this Agreement (other than a waiver, consent or extension with respect to this Agreement in
accordance with its terms);

     (iii) any furnishing of any additional security to the Pledgee or its assignee or any
acceptance thereof or any release of any security by the Pledgee or its assignee;

     (iv) any limitation on any party’s liability or obligations under any such instrument
or agreement or any invalidity or unenforceability, in whole or in part, of any such
instrument or agreement or any term thereof; or

     (v) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution,
liquidation or other like proceeding relating to any Pledgor or any Subsidiary of any
Pledgor, or any action taken with respect to this Agreement by any trustee or receiver, or
by any court, in any such proceeding, whether or not such Pledgor shall have notice or
knowledge of any of the foregoing.

          19. SALE OF COLLATERAL WITHOUT REGISTRATION. (a) If an Event of Default shall have
occurred and be continuing and any Pledgor shall have received from the Pledgee a written request
or requests that such Pledgor cause any registration, qualification or compliance under any
federal or state securities law or laws to be effected with respect to all or any part of the
Collateral consisting of Securities, Limited Liability Company Interests or Partnership Interests,
such Pledgor as soon as practicable and at its expense will use its best efforts to cause such
registration to be effected (and be kept effective) and will use its best efforts to cause such
qualification and compliance to be effected (and be kept effective) as may be so requested and as
would permit or facilitate the sale and distribution of such Collateral consisting of Securities,
Limited Liability Company Interests or Partnership Interests, including, without limitation,
registration under the Securities Act, as then in effect (or any similar statute then in effect),
appropriate qualifications under applicable blue sky or other state securities laws and
appropriate compliance with any other governmental requirements; provided that the Pledgee shall
furnish to such Pledgor such information regarding the Pledgee as such Pledgor may request in
writing and as shall be required in connection with any such registration, qualification or
compliance. Each Pledgor will cause the Pledgee to be kept reasonably advised in writing as to the
progress of each such registration, qualification or compliance and as to the completion thereof,
will furnish to the Pledgee such number of prospectuses, offering circulars and other documents
incident thereto as the Pledgee from time to time may reasonably request, and will indemnify, to
the extent permitted by law, the Pledgee and all other Secured Creditors participating in the
distribution of such Collateral consisting of Securities, Limited Liability Company Interests or
Partnership Interests against all claims, losses, damages and liabilities caused by any untrue
statement (or alleged untrue statement) of a material fact contained therein (or in any related
registration statement, notification or the like) or by any omission (or alleged omission) to
state therein (or in any related registration statement, notification or the like) a material fact
required to be stated therein or necessary to make the statements therein not misleading, except
insofar as the same may have been caused by an untrue statement or omission based upon information
furnished in writing to such Pledgor by the Pledgee or such other Secured Creditor expressly for
use therein.

 

 

Page 29

          (b) If at any time when the Pledgee shall determine to exercise its right to sell all or any
part of the Collateral consisting of Securities, Limited Liability Company Interests or
Partnership Interests pursuant to Section 7 hereof, and such Collateral or the part thereof to be
sold shall not, for any reason whatsoever, be effectively registered under the Securities Act, as
then in effect, the Pledgee may, in its sole and absolute discretion, sell such Collateral or part
thereof by private sale in such manner and under such circumstances as the Pledgee may deem
necessary or advisable in order that such sale may legally be effected without such registration.
Without limiting the generality of the foregoing, in any such event the Pledgee, in its sole and
absolute discretion (i) may proceed to make such private sale notwithstanding that a registration
statement for the purpose of registering such Collateral or part thereof shall have been filed
under such Securities Act, (ii) may approach and negotiate with a single possible purchaser to
effect such sale, and (iii) may restrict such sale to a purchaser who will represent and agree
that such purchaser is purchasing for its own account, for investment, and not with a view to the
distribution or sale of such Collateral or part thereof. In the event of any such sale, the
Pledgee shall incur no responsibility or liability for selling all or any part of the Collateral
at a price which the Pledgee, in its sole and absolute discretion, may in good faith deem
reasonable under the circumstances, notwithstanding the possibility that a substantially higher
price might be realized if the sale were deferred until the registration as aforesaid.

     20. TERMINATION; RELEASE. (a) On the Termination Date (as defined below), this
Agreement shall terminate (provided that all indemnities set forth herein including,
without limitation, in Section 11 hereof shall survive any such termination) and the Pledgee, at
the request and expense of such Pledgor, will execute and deliver to such Pledgor a proper
instrument or instruments (including UCC termination statements) acknowledging the satisfaction
and termination of this Agreement (including, without limitation, UCC termination statements and
instruments of satisfaction, discharge and/or reconveyance), and will, subject to the provisions
of the Intercreditor Agreement, duly release from the security interest created hereby and assign,
transfer and deliver to such Pledgor (without recourse and without any representation or warranty)
such of the Collateral as may be in the possession of the Pledgee or any of its sub-agents
hereunder and as has not theretofore been sold or otherwise applied or released pursuant to this
Agreement, together with any moneys at the time held by the Pledgee or any of its sub-agents
hereunder and, with respect to any Collateral consisting of an Uncertificated Security, a
Partnership Interest or a Limited Liability Company Interest (other than an Uncertificated
Security, Partnership Interest or Limited Liability Company Interest credited on the books of a
Clearing Corporation or Securities Intermediary), a termination of the agreement relating thereto
executed and delivered by the issuer of such Uncertificated Security pursuant to Section
3.2(a)(ii) or by the respective partnership or limited liability company pursuant to Section
3.2(a)(iv)(2). As used in this Agreement, “Termination Date” shall mean the date upon
which (i) the TL Obligations Termination Date shall have occurred and (ii) all Intermediate Holdco
Credit Document Obligations (other than those arising from indemnities for which no claim has been
made) then owing have been paid in full.

     (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person
other than a Credit Party) (x) at any time prior to the time at which all Credit Document
Obligations have been paid in full and all Commitments, Letters of Credit and Bank Guaranties under
the Credit Agreement have been terminated, in connection with a sale or disposition permitted by
Section 9.02 of the Credit Agreement, or is otherwise released at the

 

 

Page 30

direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit
Agreement) or (y) at any time thereafter, to the extent permitted by the other Secured Debt
Agreements, and in the case of clauses (x) and (y), the proceeds of such sale or disposition (or
from such release) are applied in accordance with the terms of the Credit Agreement or such other
Secured Debt Agreement, as the case may be, to the extent required to be so applied, the Pledgee,
at the request and expense of such Pledgor, will duly release from the security interest created
hereby (and will execute and deliver such documentation, including termination or partial release
statements and the like in connection therewith) and assign, transfer and deliver to such Pledgor
(without recourse and without any representation or warranty) such of the Collateral as is then
being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession
of the Pledgee (or, in the case of Collateral held by any sub-agent designated pursuant to Section
4 hereof, such sub-agent) and has not theretofore been released pursuant to this Agreement.
Furthermore, upon the release of any U.S. Subsidiary Guarantor from the U.S. Subsidiaries Guaranty
in accordance with the provisions thereof, such Pledgor (and the Collateral at such time assigned
by the respective Pledgor pursuant hereto) shall be released from this Agreement. Notwithstanding
anything to the contrary contained above in this clause (b), at the time of each release of
Collateral pursuant to this clause (b), the Pledgor requesting such release shall certify to the
Pledgee that, at the time of such release and immediately after giving effect thereto (and to the
sale of the respective Collateral), either (x) no Obligations are or will be then due and payable
or (y) that all Obligations which will then be due and payable shall be paid on such date in
accordance with the requirements of the respective Secured Debt Agreement(s).

          (c) At any time that any Pledgor desires that Collateral be released as provided in the foregoing Section 20(a) or (b), such Pledgor shall deliver to the Pledgee (and the relevant sub-agent, if any, designated pursuant to Section 4 hereof) a certificate signed by an officer of such Pledgor stating that the release of the respective
Collateral is permitted pursuant to Section 20(a)
 or (b) hereof. At any time that the U.S. Borrower or the respective Pledgor desires that a Subsidiary of the U.S. Borrower which has been released from the U.S. Subsidiaries Guaranty be released hereunder as provided in the penultimate sentence of Section 20(b), it shall deliver to the Pledgee a certificate signed by an officer of the U.S. Borrower and the respective Pledgor stating that the release of the respective Pledgor (and its Collateral) is permitted pursuant to
such Section 20(b).
 If reasonably requested by the Pledgee (although the Pledgee shall have no obligation to make any such request), the respective Pledgor shall furnish appropriate legal opinions (from counsel, reasonably acceptable to the Pledgee) to the effect set forth in the immediately preceding sentence.

          (d) The Pledgee shall have no liability whatsoever to any other Secured Creditor as the result of any release of Collateral by it in accordance with, or which the Collateral Agent believes to be in accordance with, this Section 20.

          21. NOTICES, ETC. Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the respective parties hereto shall be sent or delivered by mail, telegraph, telex, telecopy, cable or courier service and all such notices and communications shall, when mailed,
telegraphed, telexed, telecopied, or cabled or sent by courier, be effective when deposited in the mails, delivered to the telegraph company, cable company or overnight courier, as the case may be, or sent by telex or telecopier, except that notices and communications to the Pledgee or any Pledgor shall not be effective until received

 

 

Page 31

by the Pledgee or such Pledgor, as the case may be. All notices and other communications shall be
in writing and addressed as follows:

          (a) if to any Pledgor, at its address set forth opposite its signature below;

          (b) if to the Pledgee, at:

60 Wall Street 

New York, NY
10005 

Attention: Marguerite
Sutton 

Telephone No.:
212-250-6150 

Telecopier No.:
212-797-4655;

          (c) if to any Lender Creditor, either (x) to the Administrative Agent, at the
address of the Administrative Agent specified in the Credit Agreement, or (y) at such
address as such Lender Creditor shall have specified in the Credit Agreement;

          (d) if to any Hedging Creditor or Intermediate Holdco Creditor, at such
address as such Hedging Creditor or Intermediate Holdco Creditor shall have specified
in writing to each Assignor and the Collateral Agent;

          (e) if to the Intermediate Holdco Senior Note Collateral Agent, at:

60 Wall Street 

New York, NY
10005 

Attention: Marguerite
Sutton 

Telephone No.:
212-250-6150 

Telecopier No.:
212-797-4655;

or at such other address or addressed to such other individual as shall have been furnished in
writing by any Person described above to the party required to give notice hereunder.

          22. WAIVER; AMENDMENT. None of the terms and conditions of this Agreement may be
changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each
Pledgor directly and adversely affected thereby and the Pledgee (with the consent of the Required
Secured Creditors); provided that, (i) additional Pledgors may be added as parties hereto
from time to time in accordance with Section 30 hereof without the consent of any other Pledgor or
of the Secured Creditors, and (ii) any change, waiver, modification or variance (A) affecting the
rights and benefits of a single Class of TL Creditors (and not all TL Creditors in a like or
similar manner) shall require the written consent of the Requisite Creditors of such affected Class
of TL Creditors; and (B) materially and adversely affecting the rights and benefits of the
Intermediate Holdco Creditors and not all Secured Creditors in a like or similar manner shall
require the written consent of the Requisite Creditors of the Intermediate Holdco Creditors as
holders of the Intermediate Holdco Credit Document Obligations; provided, further, however,
that notwithstanding anything to the contrary provided in clause (ii) of the immediately preceding
proviso, (x) the Required Secured Creditors may agree to modifications to this Agreement and, to
the extent so agreed, the Pledgee shall implement such modifications, for the purpose, among other
things, of securing additional

 

 

Page 32

extensions of credit (including, without limitation, pursuant to the Credit Agreement or any
refinancing or extension thereof) and adding new creditors as “Secured Creditors” hereunder and
thereunder (either as part of an existing Class of Secured Creditors or as a newly created Class)
and such changes shall not require the written consent of the Requisite Creditors of the various
Classes, so long as such extensions (and resulting addition) do not otherwise give rise to an
express violation of the terms of the Credit Agreement, the Intermediate Holdco Credit Documents
and/or the Interest Rate Protection Agreements or Other Hedging Agreements entitled to the benefits
of the Security Documents and (y) said clause (ii) shall not apply to any release of Collateral or
any Pledgor (or the termination of this Agreement) effected in accordance with the requirements of
Section 20 or 32 of this Agreement. For the purpose of this Agreement and the other Security
Documents, the term “Class” shall mean each class of Secured Creditors with outstanding Obligations
secured hereby at such time, i.e., whether (x) the Lender Creditors as holders of the Credit
Document Obligations, (y) the Hedging Creditors as holders of the Hedging Obligations or (z) the
Intermediate Holdco Creditors as holders of the Intermediate Holdco Credit Document Obligations.
For the purpose of this Agreement and the other Security Documents, the term “Requisite
Creditors” of any Class shall mean each of (x) with respect to the Credit Document Obligations,
the Required Lenders (or all Lenders if required pursuant to the Credit Agreement), (y) with
respect to the Hedging Obligations, the holders of at least a majority of all Hedging Obligations
outstanding from time to time under the Interest Rate Protection Agreements and Other Hedging
Agreements (as determined by the Collateral Agent in such reasonable manner as is acceptable to it,
and (z) with respect to the Intermediate Holdco Credit Document Obligations, the Intermediate
Holdco Collateral Agent acting at the direction of the Intermediate Holdco Required Lenders
outstanding from time to time (or, if required by Section 13.12 of the Intermediate Holdco Credit
Agreement, all of the Intermediate Holdco Lenders).

          23. SUCCESSORS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and shall (i)
remain in full force and effect, subject to release and/or termination as set forth in Section 20, (ii) be binding upon each Pledgor,
its successors and assigns; provided, however, that no Pledgor shall assign any of its rights or obligations hereunder without the prior written consent of the Pledgee (with the consent of the Required Secured Creditors), and (iii) inure, together with the rights and remedies of the Pledgee hereunder, to the benefit
of the Pledgee, the other Secured Creditors and their respective successors, transferees and assigns. All agreements, statements, representations and warranties made by each P
ledgor herein or in any certificate or other instrument delivered by such Pledgor or on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this
Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf.

          24. HEADINGS DESCRIPTIVE. The headings of the several Sections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement.

          25. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN

 

 

Page 33

ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR PROCEEDING
WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE
STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH
ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH
PLEDGOR HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PLEDGOR HEREBY FURTHER
IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PLEDGOR, AND
AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR
ANY OTHER CREDIT DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH COURT LACKS PERSONAL
JURISDICTION OVER SUCH PLEDGOR. EACH PLEDGOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS
OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES
THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH PLEDGOR AT ITS ADDRESS FOR
NOTICES AS PROVIDED IN SECTION 21 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH
MAILING. EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND
FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED
HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID OR
INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE PLEDGEE UNDER THIS AGREEMENT, OR ANY
SECURED CREDITOR, TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL
PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY PLEDGOR IN ANY OTHER JURISDICTION.

          (b) EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF
ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT
BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY
FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY
SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

          (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY.

          26. PLEDGOR’S DUTIES. It is expressly agreed, anything herein contained to the
contrary notwithstanding, that each Pledgor shall remain liable to perform all of the

 

 

Page 34

obligations, if any, assumed by it with respect to the Collateral and the Pledgee shall not have
any obligations or liabilities with respect to any Collateral by reason of or arising out of this
Agreement, except for the safekeeping of Collateral actually in Pledgor’s possession, nor shall the
Pledgee be required or obligated in any manner to perform or fulfill any of the obligations of any
Pledgor under or with respect to any Collateral.

          27. COUNTERPARTS. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts
executed by all the parties hereto shall be lodged with each Pledgor and the Pledgee.

          28. SEVERABILITY. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
 in any other jurisdiction.

          29. RECOURSE. This Agreement is made with full recourse to each Pledgor and pursuant to and upon all the representations, warranties, covenants and agreements on the part of such Pledgor contained herein and in the other Secured Debt Agreements and otherwise in writing in connection herewith or therewith.

          30. ADDITIONAL PLEDGORS. It is understood and agreed that any Subsidiary of Holdings that is required to become a party to this Agreement after the date hereof pursuant to the requirements of the Credit Agreement or any other Credit Document, shall become a Pledgor hereunder by (x) executing a counterpart hereof and delivering same to the Pledgee, (y) delivering
supplements to Annexes A through G hereto as are necessary to cause such annexes to be complete and accurate with respect to such additional Pledgor on such date and (z) taking all actions as specified in this Agreement as would have been taken by such Pledgor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Pledgee and with all documents and actions required above to be taken to the reasonable satisfaction of the Pledgee.

          31. LIMITED OBLIGATIONS. It is the desire and intent of each Pledgor and the Secured Creditors that this Agreement shall be enforced against each Pledgor to the fullest extent permissible under the laws applied in each jurisdiction in which enforcement is sought.
Notwithstanding anything to the contrary contained herein, in furtherance of the foregoing, it is noted that the obligations of each Pledgor constituting a U.S. Subsidiary Guarantor have been limited as provided in the U.S. Subsidiaries Guaranty.

          (b) To the extent not otherwise provided in a guaranty given by a Pledgor in respect of the
Intermediate Holdco Credit Document Obligations, Intermediate Holdco, the Intermediate Holdco
Collateral Agent and each other Intermediate Holdco Creditor hereby confirm that it is the
intention of all such Persons that the grant of the security interest hereunder by Intermediate
Holdco with respect to the Intermediate Holdco Credit Document Obligations and the Intermediate
Holdco Obligations of Intermediate Holdco not constitute a fraudulent

 

 

Page 35

transfer or conveyance for purposes of any bankruptcy law (as hereinafter defined), the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or
state law to the extent applicable to this Agreement and the Intermediate Holdco Credit Document
Obligations of Intermediate Holdco hereunder. To effectuate the foregoing intention, the
Intermediate Holdco Collateral Agent, the other Intermediate Holdco Creditors and the pledgors of
the Intermediate Holdco Collateral hereby irrevocably agree that the Intermediate Holdco Credit
Document Obligations of the second lien pledgors hereunder at any time shall be limited to the
maximum amount (after taking into account any guaranty of the Intermediate Holdco Priority
Obligations by such pledgors) as will result in the Intermediate Holdco Credit Document
Obligations of the second lien pledgors hereunder not constituting a fraudulent transfer or
conveyance. For purposes hereof, “bankruptcy law” means any proceeding of the type referred to in
Section 10.06 of the Intermediate Holdco Credit Agreement or Title 11, U.S. Code, or any similar
foreign, federal or state law for the relief of debtors.

          32. RELEASE OF PLEDGORS. If at any time all of the Equity Interests of any Pledgor
owned by the U.S. Borrower or any of its Subsidiaries are sold (to a Person other than the U.S.
Borrower or any of its Wholly-Owned Subsidiaries) in a transaction permitted pursuant to the Credit
Agreement (and which does not violate the terms of any other Secured Debt Agreement then in
effect), then, at the request and expense of the U.S. Borrower, the respective Pledgor shall be
released as a Pledgor pursuant to this Agreement without any further action hereunder (it being
understood that the sale of all of the Equity Interests in any Person that owns, directly or
indirectly, all of the Equity Interests in any Pledgor shall be deemed to be a sale of all of the
Equity Interests in such Pledgor for purposes of this Section), and the Pledgee is authorized and
directed to execute and deliver such instruments of release as are reasonably satisfactory to it.
At any time that the U.S. Borrower desires that a Pledgor be released from this Agreement as
provided in this Section 32, the U.S. Borrower shall deliver to the Pledgee a certificate signed by
an officer of the U.S. Borrower stating that the release of the respective Pledgor is permitted
pursuant to this Section 32. If reasonably requested by Pledgee (although the Pledgee shall have no
obligation to make any such request), the U.S. Borrower shall furnish legal opinions (from counsel
acceptable to the Pledgee) to the effect set forth in the immediately preceding sentence. The
Pledgee shall have no liability whatsoever to any other Secured Creditor as a result of the release
of any Pledgor by it in accordance with, or which it believes to be in accordance with, this
Section 32.

* * * *

 

 

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          IN WITNESS WHEREOF, each Pledgor and the Pledgee have caused this Agreement to be executed by
their duly elected officers duly authorized as of the date first above written.

Address:

	 	 	 
	Each assignor’s address is as listed
on Annex A attached hereto

	 	DHM HOLDING COMPANY, INC.,

DOLE HOLDING COMPANY, LLC,
	 

	 	DOLE FOOD COMPANY, INC.,
	 

	 	CALAZO CORPORATION,
	 

	 	AG 1970, INC.,
	 

	 	AG 1971, INC.,
	 

	 	AG 1972, INC.,
	 

	 	ALYSSUM CORPORATION,
	 

	 	BARCLAY HOLLANDER CORPORATION,
	 

	 	BUD ANTLE, INC.,
	 

	 	CALICAHOMES, INC.,
	 

	 	CALIFORNIA POLARIS, INC.,
	 

	 	CB NORTH, LLC,
	 

	 	CB SOUTH, LLC,
	 

	 	DOLE ABPIK, INC.,
	 

	 	DOLE ARIZONA DRIED FRUIT AND NUT COMPANY,
	 

	 	DOLE CARROT COMPANY,
	 

	 	DOLE CITRUS,
	 

	 	DOLE DF&N, INC.,
	 

	 	DOLE DRIED FRUIT AND NUT COMPANY, A CALIFORNIA 

      GENERAL PARTNERSHIP,
	 

	 	DOLE FARMING, INC.,
	 

	 	DOLE FRESH VEGETABLES, INC.,
	 

	 	DOLE ORLAND, INC.,
	 

	 	DOLE PACKAGED FOODS, LLC,
	 

	 	E. T. WALL COMPANY,
	 

	 	EARLIBEST ORANGE ASSOCIATION, INC.,
	 

	 	FALLBROOK CITRUS COMPANY, INC.,
	 

	 	LINDERO HEADQUARTERS COMPANY, INC.,
	 

	 	LINDERO PROPERTY, INC.,
	 

	 	MILAGRO RANCH, LLC,
	 

	 	OCEANVIEW PRODUCE COMPANY,
	 

	 	PRAIRIE VISTA, INC.,
	 

	 	RANCHO MANANA, LLC, each as a Pledgor

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Page 37

	 	 	 
	 

	 	ROYAL PACKING CO.,
	 

	 	VELTMAN TERMINAL CO.,
	 

	 	BANANERA ANTILLANA (COLOMBIA), INC.,
	 

	 	CLOVIS CITRUS ASSOCIATION,
	 

	 	DELPHINIUM CORPORATION,
	 

	 	DOLE BERRY COMPANY, LLC,
	 

	 	DOLE EUROPE COMPANY,
	 

	 	DOLE FOODS FLIGHT OPERATIONS, INC.,
	 

	 	DOLE FRESH FLOWERS, INC.,
	 

	 	DOLE NORTHWEST, INC.,
	 

	 	DOLE SUNFRESH EXPRESS, INC.,
	 

	 	STANDARD FRUIT AND STEAMSHIP COMPANY,
	 

	 	STANDARD FRUIT COMPANY,
	 

	 	SUN COUNTRY PRODUCE, INC.,
	 

	 	WEST FOODS, INC.,
	 

	 	COOL ADVANTAGE, INC.,
	 

	 	COOL CARE, INC.,
	 

	 	FLOWERNET, INC.,
	 

	 	SAW GRASS TRANSPORT, INC.,
	 

	 	BLUE ANTHURIUM, INC.,
	 

	 	CERULEAN, INC.,
	 

	 	DOLE DIVERSIFIED, INC.,
	 

	 	DOLE LAND COMPANY, INC.,
	 

	 	DOLE PACKAGED FOODS CORPORATION,
	 

	 	LA PETITE D’ AGEN, INC.,
	 

	 	M K DEVELOPMENT, INC.,
	 

	 	MALAGA COMPANY, INC.,
	 

	 	MUSCAT, INC.,
	 

	 	OAHU TRANSPORT COMPANY, LIMITED,
	 

	 	WAHIAWA WATER COMPANY, INC.,
	 

	 	ZANTE CURRANT, INC.,
	 

	 	DIVERSIFIED IMPORTS CO.,
	 

	 	DOLE ASSETS, INC.,
	 

	 	DOLE FRESH FRUIT COMPANY,
	 

	 	DOLE HOLDINGS, INC.,
	 

	 	DOLE LOGISTICS SERVICES, INC.,
	 

	 	DOLE OCEAN CARGO EXPRESS, INC.,
	 

	 	DOLE OCEAN LINER EXPRESS, INC.,
	 

	 	RENAISSANCE CAPITAL CORPORATION, each as a Pledgor

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Page 38

	 	 	 
	 

	 	SUN GIANT, INC.,
	 

	 	DNW SERVICES COMPANY,
	 

	 	PACIFIC COAST TRUCK COMPANY,
	 

	 	PAN-ALASKA FISHERIES, INC., each as a Pledgor

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Page 39

Accepted and Agreed to:

DEUTSCHE BANK AG NEW YORK BRANCH,

     as Collateral Agent and Pledgee

	 	 	 	 	 
	 

	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

 

 

ANNEX A

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION

(AND WHETHER A REGISTERED ORGANIZATION AND/OR

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION,

LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Type of	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Pledgor’s	 	 	 	 
	 	 	Organization	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Organization	 	 	 	 
	 	 	(or, if the	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Identification	 	 	 	 
	 	 	Pledgor is an	 	 	Registered	 	 	Jurisdiction	 	 	Pledgor’s Location (for	 	 	Number (or,	 	 	Transmitting	 
	Exact Legal Name of	 	Individual, so	 	 	Organization?	 	 	of	 	 	purposes of NY UCC	 	 	if it has none,	 	 	Utility?	 
	Pledgor	 	indicate)	 	 	(Yes/No)	 	 	Organization	 	 	§
 9-307)	 	 	so indicate)	 	 	(Yes/No)	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

[to be updated]

 

 

ANNEX B

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF SUBSIDIARIES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	JURISDICTION 	 
	 	 	 	 	 	 	OF	 
	ENTITY	 	OWNERSHIP	 	 	 ORGANIZATION	 
	 
	 	 	 	 	 	 	 	 

[to be updated]

 

 

ANNEX C

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF STOCK

1. Pledgor: [                                        ]

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Sub-clause of
	Name of	 	 	 	 	 	 	 	 	 	 	 	 	 	Section 3.2(a)
	Issuing	 	Type of	 	 	Number of	 	 	Certificate	 	 	Percentage	 	 	of Pledge
	Corporation	 	Shares	 	 	Shares	 	 	No.	 	 	Owned	 	 	Agreement

2. Pledgor: [                                        ]

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Sub-clause of
	Name of	 	 	 	 	 	 	 	 	 	 	 	 	 	Section 3.2(a)
	Issuing	 	Type of	 	 	Number of	 	 	Certificate	 	 	Percentage	 	 	of Pledge
	Corporation	 	Shares	 	 	Shares	 	 	No.	 	 	Owned	 	 	Agreement

[to be updated]

 

 

ANNEX D

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF NOTES

1. [                                        ]

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	Section 3.2(a)
	Amount	 	Maturity Date	 	 	Obligor	 	 	of Pledge Agreement

2. [                                        ]

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	Section 3.2(a)
	Amount	 	Maturity Date	 	 	Obligor	 	 	of Pledge Agreement

[to be updated]

 

 

ANNEX E

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF LIMITED LIABILITY COMPANY INTERESTS

[to be updated]

 

 

ANNEX F

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF PARTNERSHIP INTERESTS

1. [                                        ]

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of 	 	Type of	 	 	Percentage	 	 	Section 3.2(a)
	Issuing Partnership	 	Interest	 	 	Owned	 	 	of Pledge Agreement

[to be updated]

 

 

ANNEX G

to

U.S. PLEDGE AGREEMENT

SCHEDULE OF CHIEF EXECUTIVE OFFICES

          Each Pledgor’s Chief Executive Office is the same as such Pledgor’s Location, as listed
on Annex A.

[to be updated]

 

 

ANNEX H

to

U.S. PLEDGE AGREEMENT

Form of Agreement Regarding Uncertificated Securities,

Limited Liability Company Interests and Partnership
Interests

          AGREEMENT (as amended, modified, restated and/or supplemented from time
to time, this “Agreement”), dated as of
[                     , 200    ], among the undersigned pledgor (the
“Pledgor”), [                    ], not in its individual capacity but solely as Collateral Agent (the
“Pledgee”), and [                    ], as the issuer of the Uncertificated Securities, Limited Liability
Company Interests and/or Partnership Interests (each as defined
below) (the “Issuer”).

W I T N E S S E T H:

          WHEREAS, the Pledgor, certain of its affiliates and the Pledgee have entered into
a Pledge Agreement, dated as of March [                    ], 2003, amended and restated as of                                         ,
2004 and further amended and restated as of April 12, 2006 (as so amended and restated and as the
same may be further amended, modified, restated and/or supplemented from time to time, the “U.S.
Pledge Agreement”), under which, among other things, in order to secure the payment of the
Obligations (as defined in the U.S. Pledge Agreement), the Pledgor has or will pledge to the
Pledgee for the benefit of the Secured Creditors (as defined in the Pledge Agreement), and grant a
security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all of the
right, title and interest of the Pledgor in and to any and all Collateral (as defined in the Pledge
Agreement) constituting [“uncertificated securities” (as defined in Section 8-102(a)(18) of the
Uniform Commercial Code, as adopted in the State of New York)
(“Uncertificated Securities”)]
[Partnership Interests (as defined in the Pledge Agreement)] [Limited Liability Company Interests
(as defined in the Pledge Agreement)], from time to time by the Issuer, whether now existing or
hereafter from time to time acquired by the Pledgor (with all of such [Uncertificated Securities]
[Partnership Interests] [Limited Liability Company Interests] being herein collectively called the
“Issuer Pledged Interests”); and

          WHEREAS, the Pledgor desires the Issuer to enter into this Agreement in order to perfect the
security interest of the Pledgee under the U.S. Pledge Agreement in the Issuer Pledged Interests,
to vest in the Pledgee control of the Issuer Pledge Interests and to provide for the rights of the
parties under this Agreement;

          NOW, THEREFORE, in consideration of the premises and the mutual promises and agreements
contained herein, and for other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

          1. The Pledgor hereby irrevocably authorizes and directs the Issuer, and the Issuer hereby
agrees, to comply with any and all instructions and orders originated by the Pledgee (and its
successors and assigns) regarding any and all of the Issuer Pledged Interests without the further
consent by the registered owner (including the Pledgor), and, following its receipt of a notice
from the Pledgee stating that an “Event of Default” has occurred and is continuing, not to comply
with any instructions or orders regarding any or all of the Issuer Pledged

 

 

Annex H

Page 2

Interests originated by any person or entity other than the Pledgee (and its successors and
assigns) or a court of competent jurisdiction.

          2. The Issuer hereby certifies that (i) no notice of any security interest, lien or other
encumbrance or claim affecting the Issuer Pledged Interests (other than the security interest of
the Pledgee) has been received by it, and (ii) the security interest of the Pledgee in the Issuer
Pledged Interests has been registered in the books and records of the Issuer.

          3. The Issuer hereby represents and warrants that (i) the pledge by the Pledgor of, and the
granting by the Pledgor of a security interest in, the Issuer Pledged Interests to the Pledgee, for
the benefit of the Secured Creditors, does not violate the charter, by-laws, partner ship
agreement, membership agreement or any other agreement governing the Issuer or the Issuer Pledged
Interests, and (ii) the Issuer Pledged Interests consisting of capital stock of a corporation are
fully paid and nonassessable.

          4. All notices, statements of accounts, reports, prospectuses, financial statements and other
communications to be sent to the Pledgor by the Issuer in respect of the Issuer will also be sent
to the Pledgee at the following address:

60 Wall Street 

New York, NY
10005 

Attention: Marguerite Sutton 

Telephone No.: 212-250-6150 

Telecopier No.: 212-797-4655

          5. Following its receipt of a notice from the Pledgee stating that the Pledgee is exercising
exclusive control of the Issuer Pledged Interests and until the Pledgee shall have delivered
written notice to the Issuer that all of the Obligations have been paid in full and this Agreement
is terminated, the Issuer will send any and all redemptions, distributions, interest or other
payments in respect of the Issuer Pledged Interests from the Issuer for the account of the Pledgee
only by wire transfers to such account as the Pledgee shall instruct.

          6. Except as expressly provided otherwise in Sections 4 and 5, all notices, instructions,
orders and communications hereunder shall be sent or delivered by mail, telegraph, telex, telecopy,
cable or overnight courier service and all such notices and communications shall, when mailed,
telexed, telecopied, cabled or sent by overnight courier, be effective when deposited in the mails
or delivered to overnight courier, prepaid and properly addressed for delivery on such or the next
Business Day, or sent by telex or telecopier, except that notices and communications to the Pledgee
or the Issuer shall not be effective until received. All notices and other communications shall be
in writing and addressed as follows:

 

 

Annex H

Page 3

	 	 	 	 	 
	(a)

	 	if to the Pledgor, at:	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	Attention:                     	 	 
	 

	 	Telephone No.:	 	 
	 

	 	Fax No.:	 	 
	 
	 	 	 	 
	(b)

	 	if to the Pledgee, at the address given in Section 4 hereof;	 	 
	 
	 	 	 	 
	(c)

	 	if to the Issuer, at:	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 

or at such other address as shall have been furnished in writing by any Person described above to
the party required to give notice hereunder. As used in this Section 6, “Business Day” means any
day other than a Saturday, Sunday, or other day in which banks in New York are authorized to
remain closed.

          7. This Agreement shall be binding upon the successors and assigns of the Pledgor and the
Issuer and shall inure to the benefit of and be enforceable by the Pledgee and its successors and
assigns. This Agreement may be executed in any number of counterparts, each of which shall be an
original, but all of which shall constitute one instrument. In the event that any provision of this
Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be
severable from the other provisions of this Agreement which shall remain binding on all parties
hereto. None of the terms and conditions of this Agreement may be changed, waived, modified or
varied in any manner whatsoever except in writing signed by the Pledgee, the Issuer and the
Pledgor.

          8. This Agreement shall be governed by and construed in accordance with the laws of the State
of New York, without regard to its principles of conflict of laws.

 

 

Annex H

Page 4

          IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused this Agreement to be
executed by their duly elected officers duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	[                                        ],	 	 
	 

	 	 	 	as Pledgor 	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK AG NEW YORK BRANCH, not in its individual

     capacity but
solely as Collateral Agent and Pledgee
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	[                                        ],	 	 
	 

	 	 	 	as the Issuer	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

 

 

ANNEX I

to

U.S. PLEDGE AGREEMENT

THE PLEDGEE AND 

SECURED CREDITOR ACKNOWLEDGEMENTS1

          1. Appointment. The Secured Creditors, by their acceptance of the benefits of the
Amended and Restated U.S. Pledge Agreement to which this Annex I is attached (the “U.S. Pledge
Agreement”) hereby irrevocably designate Deutsche Bank AG New York Branch (and any successor
Pledgee) to act as specified herein, therein, in the other Security Documents and in the
Intercreditor Agreement. Each Secured Creditor hereby irrevocable authorizes, and each holder of
any Obligation by the acceptance of such Obligation and by the acceptance of the benefits of the
Pledge Agreement and the other Security Documents shall be deemed irrevocably to authorize, the
Pledgee to take such action on its behalf under the provisions of the Security Documents, the
Intercreditor Agreement and any instruments and agreements referred to therein and to exercise such
powers and to perform such duties hereunder and thereunder as are specifically delegated to or
required of the Pledgee by the terms hereof and thereof and such other powers as are reasonably
incidental thereto. The Pledgee may perform any of its duties hereunder or thereunder by or
through its authorized agents, sub-agents or employees. The Pledgee, for itself and its
successors and assigns, hereby accepts such appointment created hereby upon the terms and
conditions specified herein.

          2.
Nature of Duties. (i) The Pledgee shall have no duties or responsibilities
except those expressly set forth herein, in the respective Security Documents and in the
Intercreditor Agreement. The duties of the Pledgee shall be mechanical and administrative in
nature; the Pledgee shall not have by reason of this Agreement, any other Credit Document or any
other Secured Debt Agreement a fiduciary relationship in respect of any Secured Creditor; and
nothing in this Agreement, any other Credit Document or any other Secured Debt Agreement, expressed
or implied, is intended to or shall be so construed as to impose upon the Pledgee any obligations
in respect of the Security Documents except as expressly set forth herein and therein.

          (b) The Pledgee shall not be responsible for insuring the Collateral (which term, for purposes
of this Annex I, shall include the “collateral” under all of the Security Documents) or for the
payment of taxes, charges or assessments or discharging of Liens upon the Collateral or otherwise
as to the maintenance of the Collateral.

          (c) The Pledgee shall not be required to ascertain or inquire as to the performance by any
Pledgor of any of the covenants or agreements contained in any Security Document, any other Credit
Document or any other Secured Debt Agreement.

 

			
	1	 	Unless otherwise defined herein, all capitalized terms used herein (x) and defined in
the U.S. Pledge Agreement, are used herein as therein defined and (y) not defined in the U.S.
Pledge Agreement, are used herein as defined in the Credit Agreement referenced in the U.S.
Pledge Agreement.

 

 

Annex I

Page 2

          (d) The Pledgee shall be under no obligation or duty to take any action under, or with respect
to, any Security Document or the Intercreditor Agreement if taking such action (i) would subject
the Pledgee to a tax in any jurisdiction where it is not then subject to a tax or (ii) would
require the Pledgee to qualify to do business, or obtain any license, in any jurisdiction where it
is not then so qualified or licensed or (iii) would subject the Pledgee to in personam jurisdiction
in any locations where it is not then so subject.

          (e) Notwithstanding any other provision of this Annex I, neither the Pledgee nor any of its
officers, directors, employees, affiliates or agents shall, in its individual capacity, be
personally liable for any action taken or omitted to be taken by it in accordance with, or pursuant
to this Annex I of, the U.S. Pledge Agreement, any other Security Document or the Intercreditor
Agreement, unless caused by its or their own gross negligence or willful misconduct (as determined
by a court of competent jurisdiction in a final and non-appealable decision).

          (f) Notwithstanding any other provision of any Security Document, the Intercreditor Agreement
or this Annex I, the Pledgee shall not be responsible or liable for perfecting, or maintaining the
priority of, the Liens created pursuant to the Security Documents.

          3. Lack of Reliance on the Pledgee. Independently and without reliance upon the
Pledgee, each Secured Creditor, to the extent it deems appropriate, has made and shall continue to
make (i) its own independent investigation of the financial condition and affairs of each Pledgor
and its Subsidiaries in connection with the making and the continuance of the Obligations and the
taking or not taking of any action in connection therewith, and (ii) its own appraisal of the
creditworthiness of each Pledgor and its Subsidiaries, and the Pledgee shall have no duty or
responsibility, either initially or on a continuing basis, to provide any Secured Creditor with
any credit or other information with respect thereto, whether coming into its possession before
the extension of any Obligations or the purchase of any Notes or Intermediate Holdco Notes or at
any time or times thereafter. The Pledgee shall not be responsible or liable in any manner
whatsoever to any Secured Creditor for the correctness of any recitals, statements, information,
representations or warranties herein, in the other Secured Debt Agreements or in any document,
certificate or other writing delivered in connection herewith or therewith or for the execution,
effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or
sufficiency of any Security Document or the security interests granted thereunder or the financial
condition of any Pledgor or any Subsidiary of any Pledgor or be required to make any inquiry
concerning either the performance or observance of any of the terms, provisions or conditions of
any Security Document or any other Secured Debt Agreement, or the financial condition of any
Pledgor or any Subsidiary of any Pledgor, or the existence or possible existence of any Default or
Event of Default (or similar term) under any Secured Debt Agreement. The Pledgee makes no
representations as to the value or condition of the Collateral or any part thereof, or as to the
title of any Pledgor thereto or as to the security afforded by any Security Document.

          4.
Certain Rights of the Pledgee. (a) No Secured Creditor shall have the right to
take any action with respect to (or against) any Collateral, or cause the Pledgee to take any
action with respect to (or against) any Collateral, with only the Required Secured Creditors
having the right to direct the Pledgee by written instruction in accordance with Section 4(d) of
this Annex I

 

 

Annex I

Page 3

to take any such action. Except for actions required to be taken by the Pledgee in accordance with
the respective Security Documents, if the Pledgee shall request instructions from the Required
Secured Creditors with respect to any act or action (including failure to act) in connection with
any Security Document and the Required Secured Creditors shall fail to instruct the Pledgee with
respect to any act or action (including failure to act and refrain from acting) in connection with
such Security Document, the Pledgee shall be entitled to refrain from such act or taking such
action unless and until it shall have received express instructions from the Required Secured
Creditors and to the extent requested, appropriate indemnification in respect of actions to be
taken, and the Pledgee shall not incur liability to any Secured Creditor or any other Person by
reason of so refraining. Without limiting the foregoing, (x) no Secured Creditor shall have any
right of action whatsoever against the Pledgee as a result of the Pledgee acting or refraining from
acting hereunder or under the Security Documents in accordance with the instructions of the
Required Secured Creditors or as expressly provided in the Security Documents and (y) without
limiting preceding clause (x), the Pledgee shall not be liable to any Secured Creditor or any other
Person for any action taken or omitted to be taken by it hereunder or under the Security Documents,
unless caused by its gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision).

          (b) Notwithstanding anything to the contrary contained herein (and subject to Section 2(f) of
this Annex I), the Pledgee is authorized, but not obligated, (i) to take any action reasonably
required to perfect or continue the perfection of the Liens on the Collateral for the benefit of
the Secured Creditors and (ii) when instructions from the Required Secured Creditors have been
requested by the Pledgee but have not yet been received, to take any action which the Pledgee, in
good faith, believes to be reasonably required to promote and protect the interests of the Secured
Creditors in the Collateral; provided that once instructions have been received, the
actions of the Pledgee shall be governed thereby and the Pledgee shall not take any further action
which would be contrary thereto.

          (c) Notwithstanding anything to the contrary contained herein or in any Security Document, the
Pledgee shall not be required to take or refrain from taking, and shall have no liability to any
Secured Creditor for taking or refraining from taking, any action that exposes or, in the good
faith judgment of the Pledgee may expose, the Pledgee or its officers, directors, agents, employees
or representatives to personal liability, unless the Pledgee shall be adequately indemnified as
provided herein or that is, or in the good faith judgment of the Pledgee may be, contrary to any
Security Document, any other Secured Debt Agreement or applicable law.

          (d) For purposes of each Security Document, each Secured Creditor shall appoint a Person as
such Secured Creditor’s authorized representative (each, an “Authorized Representative”)
for the purpose of giving or delivering any notices or instructions thereunder. Any instructions
given by the Required Secured Creditors to the Pledgee pursuant to the Security Documents shall be
in writing signed by the Authorized Representative(s) of the various Secured Creditors comprising
the Required Secured Creditors with respect to such instructions and such instructions shall
certify to and for the benefit of the Pledgee that the Secured Creditors issuing or delivering such
instructions constitute the Required Secured Creditors for purposes of this Section 4 and the
instructions being delivered. The Pledgee shall be entitled to conclusively and absolutely rely on
such instructions and certification as to the identity of the Required Secured

 

 

Annex I

Page 4

Creditors with respect to such instructions, and the Pledgee shall not be required to take any
action, and shall not be liable to any Secured Creditor for failing or refusing to act, pursuant
to any instructions which are not given or delivered by the Authorized Representatives of various
Secured Creditors comprising the Required Secured Creditors with respect to such instructions. The
parties hereto acknowledge that the Authorized Representative of each of the Secured Creditors
shall be (x) the Administrative Agent, in the case of the Lender Creditors, (y) the Intermediate
Holdco Collateral Agent, in the case of the Intermediate Holdco Creditors and (z) in the case of
any Hedging Creditor, such representative as may be designated by such Hedging Creditor by written
notice to the Pledgee from time to time.

          5. Reliance; Interpretation. The Pledgee shall be entitled to rely, and shall be
fully protected in relying, upon, any note, writing, resolution, notice, statement, certificate,
telex, teletype or telescopes message, cablegram, radiogram, order or other document or telephone
message signed, sent or made by the proper Person or entity, and, with respect to all legal matters
pertaining hereto or to the Security Documents and its duties thereunder and hereunder, upon advice
of counsel selected by it. If, in its good faith judgment, the Pledgee reasonably believes that
any instructions given or delivered pursuant to any Security Document or the Intercreditor
Agreement require judicial interpretation or are invalid or otherwise contrary to the provisions of
any Security Document, the Intercreditor Agreement, any other Secured Debt Agreement or applicable
law, the Pledgee shall have the right to petition a court of competent jurisdiction to determine
the validity of, or otherwise interpret, any such instructions. In such event, the Pledgee shall
not be required to carry out such instructions unless directed to do so, or it is determined that
it may do so, by such court.

          6. Indemnification. To the extent the Pledgee is not reimbursed and indemnified by the
Pledgors under the Security Documents or the Intercreditor Agreement, the TL Creditors will
reimburse and indemnify the Pledgee, in proportion to their respective outstanding principal
amounts (including, for this purpose, the Stated Amount of outstanding Letters of Credit (without
giving effect to clause (y) of the proviso in the definition of Stated Amount), the Face Amount of
outstanding Bank Guaranties (without giving effect to clause (y) of the proviso in the definition
of Face Amount) and any unpaid TL Primary Obligations in respect of Interest Rate Protection
Agreements and Other Hedging Agreements, as outstanding principal) of Obligations, for and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or
asserted against the Pledgee in performing its duties hereunder, or in any way relating to or
arising out of its actions as Pledgee in respect of the Security Documents except for those
resulting solely from the Pledgee’s own gross negligence or willful misconduct (as determined by a
court of competent jurisdiction in a final and non-appealable decision). The indemnities set
forth in this Section 6 shall survive the repayment of all Obligations, with the respective
indemnification at such time to be based upon the outstanding principal amounts (determined as
described above) of Obligations at the time of the respective occurrence upon which the claim
against the Pledgee is based or, if same is not reasonably determinable, based upon the outstanding
principal amounts (determined as described above) of Obligations as in effect immediately prior to
the termination of the Security Documents. The indemnities set forth in this Section 6 are in
addition to any indemnities provided by the Lenders to the Pledgee pursuant to the Credit
Agreement, with the effect being that the Lenders shall be responsible for indemnifying the Pledgee
to the extent the Pledgee does not receive payments pursuant to this

 

 

Annex I

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Section 6 of this Annex I from the TL Creditors (although in such event, and upon the payment in
full of all such amounts owing to the Pledgee by the Lenders, the Lenders shall be subrogated to
any rights of the Pledgee to receive payment from the TL Creditors).

          7. The Pledgee in its Individual Capacity. With respect to its obligations as a
Secured Creditor under any Secured Debt Agreement to which the Pledgee is a party, and to act as
agent under one or more of such Secured Debt Agreements, the Pledgee shall have the rights and
powers specified therein and herein for a “Secured Creditor”, and may exercise the same rights and
powers as though it were not performing the duties specified herein; and the terms “Secured
Creditors”, “Required Secured Creditors”,
“TL Creditors”, “Lender Creditors”,
“Lenders”, “Required Lenders”,
“Requisite Lenders”, “Hedging
Creditors”, “holders of Notes”,
“Intermediate Holdco Creditors”,
“Intermediate Holdco Lenders”, or any similar terms
shall, unless the context clearly otherwise indicates, include the Pledgee in its individual
capacity. The Pledgee and its affiliates may accept deposits from, lend money to, and generally
engage in any kind of banking, investment banking, trust or other business with any Pledgor or any
Affiliate or Subsidiary of any Pledgor as if it were not performing the duties specified herein or
in the other Secured Debt Agreements, and may accept fees and other consideration from the
Pledgors for services in connection with the Credit Agreement, the other Secured Debt Agreements
and otherwise without having to account for the same to the Secured Creditors.

          8.
Holders. The Pledgee may deem and treat the payee of any Note or the registered
owner of any Intermediate Holdco Note as the owner respectively thereof for all purposes hereof
unless and until written notice of the assignment, transfer or endorsement thereof, as the case may
be, shall have been filed with the Pledgee. Any request, authority or consent of any Person who,
at the time of making such request or giving such authority or consent, is the holder of any Note
or the registered owner of any Intermediate Holdco Note, shall be final and conclusive and binding
on any subsequent holder, transferee, assignee or endorsee, as the case may be, of such Note or
Intermediate Holdco Note, or of any Note or Intermediate Holdco Note issued in exchange therefor.

          9.
Resignation and Removal of the Pledgee. (a) The Pledgee may resign from the
performance of all of its functions and duties hereunder and under the other Security Documents at
any time by giving 30 Business Days’ prior written notice to the Borrower and the Authorized
Representatives. Such resignation shall take effect upon the appointment of a successor Pledgee
pursuant to clause (b) or (c) below.

          (b) Upon any such notice of resignation by the Pledgee, the Required Secured Creditors, with
the consent (unless a Specified Default or an Event of Default shall exist, in which case no such
consent shall be required) of Holdings (which consent shall not be unreasonably withheld or
delayed), shall then appoint a successor Pledgee who shall serve as Pledgee hereunder or thereunder
until such time, if any, as the Required Secured Creditors appoint a successor Pledgee as provided
above.

          (c) If no successor Pledgee has been appointed pursuant to clause (b) above by the
30th Business Day after the date of such notice of resignation was given by the Pledgee,
as a result of a failure by Holdings to consent to the appointment of such a successor Pledgee, (i)
the Pledgee shall then appoint a successor Pledgee who shall serve as Pledgee hereunder or

 

 

Annex I

Page 6

thereunder or (ii) if the Pledgee shall have failed to appoint a successor Pledgee by the
25th Business Day after the date such notice of resignation was given by the Pledgee,
the Pledgee may appoint (or petition a court of competent jurisdiction to appoint) a successor
Pledgee who shall serve as Pledgee hereunder or thereunder, in either such case until such time,
if any, as the Required Secured Creditors appoint a successor Pledgee as provided above.

          (d) Notwithstanding anything to the contrary contained herein, after the TL Obligations
Termination Date, the Required Secured Creditors may remove the Pledgee by an instrument in writing
executed by the Required Secured Creditors and, thereupon, appoint a successor Pledgee designated
by the Required Secured Creditors, effective as provided in Section 9(e) below.

          (e) The resignation or removal of a Pledgee shall become effective only upon the execution and
delivery of such documents or instruments as are necessary to transfer the rights and obligations
of the Pledgee under the Security Documents and the recording or filing of such documents,
instruments or financing statements as may be necessary to maintain the priority and perfection of
any security interest granted by the Security Documents. Copies of each such document or
instrument shall be delivered to Holdings, the Administrative Agent and the Intermediate Holdco
Collateral Agent. The appointment of a successor Pledgee pursuant to this Section 9 of this Annex
I shall become effective upon the acceptance of such appointment (and execution by such successor
of the documents, instruments or financing statements referred to above) and such successor Pledgee
shall succeed to and become vested with all the rights, powers, privileges and duties of the
retiring Pledgee.

          (f) After any resignation or removal hereunder of the Pledgee, the
indemnification provisions specified in this Annex I and in the Credit Documents shall continue to
inure to its benefit as to any actions taken or omitted to be taken by it in connection with its
agency hereunder while it was Pledgee.

          10.
Co-Pledgees; Separate Pledgees. (a) If at any time or times it shall be necessary
or prudent in order to conform to any law of any jurisdiction in which any of the Collateral shall
be located, or the Pledgee shall be advised by counsel, satisfactory to it, that it is necessary
or prudent in the interest of the Pledgee or the Secured Creditors (or any class thereof), then
the Pledgee shall be entitled to appoint one or more sub-Pledgees or co-Pledgees, and in such case
the Pledgee, the U.S. Borrower and each of the other Pledgors having an interest in the Collateral
located in the jurisdiction in which such separate or sub-Pledgee or co-Pledgee is to act shall
execute and deliver all instruments and agreements necessary or proper to constitute another bank
or trust company, or one or more individuals approved by the Pledgee, either to act as co-Pledgee
or co-Pledgees jointly with the Pledgee originally named herein or any successor or successors, or
to act as a separate or sub-Pledgee or agents of the Pledgee and the Secured Creditors in respect
of any or all of the Collateral. If the U.S. Borrower and each of the other Pledgors having an
interest in the Collateral located in the jurisdiction in which such separate or sub-Pledgee or
co-Pledgee is to act shall not have joined in the execution of such instruments or agreements
within 10 days after the receipt of a written request from the Pledgee so to do, or if a Default
or an Event of Default shall be continuing, the Pledgee may act under the foregoing provisions of
this Section 10 of this Annex I without the concurrence of the U.S. Borrower and the other
Pledgors, and the U.S. Borrower and each of the other Pledgors hereby irrevocably

 

 

Annex I

Page 7

appoint the Pledgee as their agent and attorney to act for them under the foregoing provisions of
this Section 10 in either of such contingencies.

          (b) Every separate or sub-Pledgee (and all references herein to a “separate Pledgee” shall be
deemed to refer also to a “sub-Pledgee” or a “collateral sub-agent”) and every co-Pledgee, other
than any Pledgee which may be appointed as successor to any Pledgee, shall, to the extent
permitted by applicable law, be appointed and act and be such, subject to the following provisions
and conditions, namely:

     (i) all rights, remedies, powers, duties and obligations conferred upon, reserved to
or imposed upon the Pledgee in respect of the custody, control and management of monies,
papers or securities shall be exercised solely by the Pledgee hereunder;

     (ii) all rights, remedies, powers, duties and obligations conferred upon, reserved to
or imposed upon the Pledgee hereunder shall be conferred, reserved or imposed and exercised
or performed by the Pledgee and such separate Pledgee or separate Pledgees or co-Pledgee or
co-Pledgees, jointly or severally, as shall be provided in the instrument appointing such
separate Pledgee or separate Pledgees or co-Pledgee or co-Pledgees, except to the extent
that, under any law of any jurisdiction in which any particular act or acts are to be
performed, the Pledgee shall be incompetent or unqualified to perform such act or acts, in
which event such rights, remedies, powers, duties and obligations shall be exercised and
performed by such separate Pledgee or separate Pledgees or co-Pledgee or co-Pledgees;

     (iii) no power given hereby to, or which it is provided hereby may be exercised by,
any such separate Pledgee or separate Pledgees or co-Pledgee or co-Pledgees shall be
exercised hereunder by such separate Pledgee or separate Pledgees or co-Pledgee or
co-Pledgees except (subject to applicable law) jointly with, or with the consent or at the
direction in writing of, the Pledgee (which direction shall be made in accordance with the
provisions of the U.S. Pledge Agreement);

     (iv) all provisions of the respective Security Documents and the Intercreditor
Agreement relating to the Pledgee or to releases of Collateral shall apply to any such
separate Pledgee or separate Pledgees or co-Pledgee or co-Pledgees;

     (v) no Pledgee constituted under this Section 10 of this Annex I shall be personally
liable by reason of any act or omission of any other separate or co-Pledgee or the Pledgee
hereunder; and

     (vi) the Pledgee at any time by an instrument in writing, executed by it, may accept
the resignation of any such separate Pledgee or co-Pledgee and the Pledgee or the Required
Secured Creditors may individually or jointly remove any such separate Pledgee or
co-Pledgee, and in that case, by an instrument in writing executed by the Pledgee or the
Required Secured Creditors, as the case may be, and the Pledgee or the Required Secured
Creditors, as the case may be, may appoint a successor to such separate Pledgee or
co-Pledgee, as the case may be, anything in this Annex I to the contrary

 

 

Annex I

Page 8

notwithstanding. If the Borrower and each of the other Pledgors shall not have joined in
the execution of any such instrument within 10 days after the receipt of a written request
from the Pledgee so to do, or if a Default or an Event of Default shall be continuing, the
Pledgee shall have the power to accept the resignation of or remove any such separate
Pledgee or co-Pledgee and to appoint a successor to such separate Pledgee or co-Pledgee, as
the case may be, and to execute any such instrument without the concurrence of the Borrower
or such other Pledgors, and the Borrower and each of the other Pledgors hereby irrevocably
appoint the Pledgee their agent and attorney to act for them in such connection in either
of such contingencies. If the Pledgee shall have appointed a separate Pledgee or separate
Pledgees or co-Pledgee or co-Pledgees as above provided, the Pledgee may at any time, by an
instrument in writing, accept the resignation of or remove any such separate Pledgee or
co-Pledgee, the successor to any such separate Pledgee or co-Pledgee to be appointed by the
Borrower and each of the other Pledgors and the Pledgee, or by the Pledgee alone, as
hereinabove provided in this Section 10.

          11.
Acknowledgment of Priorities of Security Interests and Liens. (a) Each of the
Secured Creditors acknowledges and agrees (w) to the relative priorities as to the Intermediate
Holdco Collateral (and the application of the proceeds therefrom) as provided in the U.S. Pledge
Agreement (including Section 9 thereof) and acknowledges and agrees that such priorities (and the
application of proceeds from the Intermediate Holdco Collateral) shall not be affected or impaired
in any manner whatsoever including, without limitation, on account of (i) the invalidity,
irregularity, diminution in value or unenforceability of all or any part of any Secured Debt
Agreement or any of the Obligations thereunder, (ii) the actual date and time of creation,
execution, delivery, recording, filing, attachment or perfection of any security interests in the
Intermediate Holdco Collateral, (iii) any nonperfection of any Lien on the Intermediate Holdco
Collateral purportedly securing any of the Obligations (including, without limitation, whether any
such Lien is now perfected, hereafter ceases to be perfected, is avoidable by any bankruptcy
trustee or otherwise is set aside, invalidated or lapses), (iv) any amendment, change or
modification of any Secured Debt Agreement, (v) any impairment, modification, change, exchange,
release or subordination of or limitation on, any liability of, or stay of actions or lien
enforcement proceedings against, any Pledgor, its property, or its estate in bankruptcy resulting
from any bankruptcy, arrangement, readjustment, composition, liquidation, rehabilitation, similar
proceeding or otherwise involving or affecting any Pledgor, (vi) any distribution of the
Intermediate Holdco Collateral upon the liquidation or dissolution of the applicable Pledgor, or
the winding up of the assets or business of the applicable Pledgor, (vii) the initiation of any
bankruptcy, moratorium, reorganization or other insolvency proceeding with respect to the
applicable Pledgor or (viii) the taking of possession of any of the Intermediate Holdco Collateral
by the Pledgee or any of the Secured Creditors, (y) that the grants of security under the U.S.
Agreement constitute two separate and distinct grants of security, one a grant of security in the
Collateral in favor of the Pledgee for the benefit of the TL Creditors and the second a grant of
security in the Intermediate Holdco Collateral in favor of the Pledgee for the benefit of the
Intermediate Holdco Creditors and (z) that the Intermediate Holdco Creditors’ claims against the
Pledgors in respect of the Intermediate Holdco Collateral constitute second priority claims
separate and apart (and of a different class and claim) from the Secured Creditors’ claims against
the Pledgors in respect of the Collateral.

 

 

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          (b) Each Secured Creditor, by its acceptance of the benefits hereunder and of the Security
Documents, hereby agrees for the benefit of the other Secured Creditors that, to the extent any
additional or substitute collateral for any of the Obligations of the type covered by the U.S.
Pledge Agreement delivered by a Pledgor to or for the benefit of any Secured Creditor, such
collateral shall be subject to the provisions of this Annex I and of the U.S. Pledge Agreement.

          (c) Each of the Secured Creditors hereby agrees not to challenge or question in any proceeding
the validity or enforceability of any Security Document (in each case as a whole or any term or
provision contained therein) with respect to the Intermediate Holdco Collateral or the validity of
any Lien on the Intermediate Holdco Collateral or financing statement with respect to the
Intermediate Holdco Collateral in favor of the Pledgee for the benefit of the Intermediate Holdco
Creditors as provided in the respective Security Document, or the relative priority of any such
Lien on the Intermediate Holdco Collateral.

          (d) If any Secured Creditor shall acquire by indemnification, subrogation, contract or
otherwise (including pursuant to the U.S. Pledge Agreement), any lien, estate, right or other
interest in, or possession or control of, any of the assets of any Pledgor that would otherwise
constitute Collateral to secure (or providing security for) the respective Obligations owed to such
Secured Creditor, that lien, estate, right or other interest shall, and any such possession or
control shall, be held for the benefit of the Secured Creditors under the U.S. Pledge Agreement and
shall be subject to the relative priorities set forth in the U.S. Pledge Agreement.

          12.
Sharing Arrangements. (a) The Secured Creditors hereby agree that the provisions
of the U.S. Pledge Agreement with respect to allocations, priorities and distributions of proceeds
of the Intermediate Holdco Collateral shall prevail notwithstanding any event or circumstance,
including, without limitation, in the event that, through the operation of any bankruptcy,
reorganization, insolvency or other laws or otherwise, any Secured Creditor’s security interest in
the Intermediate Holdco Collateral is avoided in whole or in part or is enforced with respect to
some, but not all, of the respective Obligations then outstanding.

          (b) The Secured Creditors agree that none of them shall be entitled to benefit from any
avoidance action affecting or otherwise relating to any distribution or allocation made in
accordance with the Security Documents, whether by preference or otherwise, it being under stood
and agreed that the benefit of any such avoidance action otherwise allocable to them shall instead
be allocated and turned over for application in accordance with the priorities set forth in the
U.S. Pledge Agreement.

          (c) In the event that any payment or distribution shall be received by any Secured Creditor in
a manner that is inconsistent with the provisions of Section 9 of the U.S. Pledge Agreement, such
payment or distribution shall be held by such Secured Creditor for the benefit of, and shall be
paid over or delivered to, the respective Secured Creditors entitled thereto for application to
such Secured Creditors’ Obligations (including, without limitation, all interest that accrues after
the commencement of any case, proceeding or other action relating to the bank ruptcy, insolvency,
reorganization or similar proceeding of any Pledgor at the rate provided for in the respective
documentation for such Obligations, whether or not a claim for post-petition interest is allowed in
any such proceeding) in accordance with Section 9 of the U.S. Pledge Agreement.

 

 

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          13. Provisions in the Event of Insolvency Proceedings. Without limiting the other
provisions of this Annex I, upon the commencement of a case under the Bankruptcy Code by or
against any Pledgor:

          (a) The Security Documents shall remain in full force and effect and enforceable pursuant to
their respective terms in accordance with Section 510(a) of the Bankruptcy Code, and all references
herein to such Pledgor shall be deemed to apply to such entity as debtor-in-possession and to any
trustee in bankruptcy for the estate of such entity.

          (b) In any such case under the Bankruptcy Code, each Intermediate Holdco Creditor agrees not
to take any action or vote in any way so as to contest (1) the validity or enforceability of any
provisions contained in the Security Documents relating to the Intermediate Holdco Collateral or
any of the Obligations thereunder, (2) the validity, priority or enforceability of the Liens,
mortgages, assignments and security interests on, of, and in the Intermediate Holdco Collateral
granted pursuant to the Security Documents with respect to the TL Obligations, or (3) the relative
rights and duties of the holders of the TL Obligations and the Intermediate Holdco Obligations
granted and/or established in U.S. Pledge Agreement with respect to such Liens, mortgages,
assignments, and security interests.

          (c) So long as any TL Obligations are outstanding, without the express written consent of the
Required Secured Creditors, none of the Intermediate Holdco Creditors shall (i) with respect to any
rights under any Secured Debt Agreement or applicable law, seek in respect of any part of the
Intermediate Holdco Collateral or proceeds thereof or any Lien which may exist thereon, any relief
from or modification of the automatic stay as provided in Section 362 of the Bankruptcy Code or
seek or accept any form of adequate protection under either or both Sections 362 and 363 of the
Bankruptcy Code with respect thereto except, with respect to the Intermediate Holdco Credit
Document Obligations, to the extent that their receipt of any such adequate protection would not
reduce (or would not have the effect of reducing) or adversely affect the adequate protection that
the TL Creditors otherwise would be entitled to receive (it being understood that, in any event,
(A) any such adequate protection shall only be afforded to the Intermediate Holdco Creditors if the
TL Creditors are satisfied with the adequate protection afforded to the TL Creditors and (B) the
Intermediate Holdco Creditors’ receipt of any such adequate protection shall be subject to the
application of proceeds provisions set forth in Section 9 of the U.S. Pledge Agreement), (ii)
oppose or object to any TL Creditor obtaining a Lien or grant of administrative claim in connection
with a grant of adequate protection, use of cash collateral or post-petition financing under
Section 362, 363 or 364 of the Bankruptcy Code, (iii) oppose or object to the use of cash
collateral by a Pledgor, (iv) oppose or object to any post-petition financing (including any
debtor-in-possession financing) provided by any of the TL Creditors or provided by a third party
pursuant to Section 364 of the Bankruptcy Code (including on a priming basis) on terms acceptable
to the Required Secured Creditors, (v) oppose or object to or withhold consent from the disposition
of assets by any Pledgor under Sections 363(b) or 363(f) of the Bankruptcy Code, (vi) oppose,
object to, or vote against any plan of reorganization or disclosure statement the terms of which
are consistent with the rights of the TL Creditors under the Security Documents under which the
Liens, mortgages, assignments and security interests and the priority thereof are granted and
established, (vii) make an election pursuant to Section 1111(b) of the Bankruptcy Code, (viii)
oppose or object to the determination of the extent of any Liens held by any of the TL Creditors or
the value of any claims of TL Creditors

 

 

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under Section 506(a) of the Bankruptcy Code, or (ix) oppose or object to the payment of interest
and expenses under Sections 506(b) and 506(c) of the Bankruptcy Code.

          (d) In the event that any of the TL Obligations shall be paid in full and subsequently, for
whatever reason (including, but not limited to, an order or judgment for disgorgement of a
preference under Title 11 of the United Stated Code, or any similar law, or the settlement of any
claim in respect thereof), formerly paid or satisfied TL Obligations become unpaid or unsatisfied,
the terms and conditions of this Annex I shall be fully applicable thereto until all such TL
Obligations are again paid in full in cash.

          14.
Special Releases and Waivers. (a) Each Secured Creditor agrees that neither the
Pledgee nor the Required Secured Creditors (in directing the Pledgee to take any action with
respect to the Collateral) shall have any duty or obligation to realize first upon any type of
Collateral or to sell, dispose of or otherwise liquidate all or any portion of the Collateral in
any manner that would maximize the return to any Class of Secured Creditors holding Obligations of
any type (whether Credit Document Obligations, Hedging Obligations or Intermediate Holdco Credit
Document Obligations), notwithstanding that the order and timing of any such realization, sale,
disposition or liquidation may affect the amount of proceeds actually received by such Class of
Secured Creditors from such realization, sale, disposition or liquidation.

          (b) Each of the Intermediate Holdco Creditors waives any claim which each such Intermediate
Holdco Creditor may now or hereafter have against the TL Creditors (or their representatives)
arising out of (i) any and all actions which the Pledgee or the TL Creditors take or omit to take
(including, without limitation, actions with respect to the creation, perfection or continuation of
Liens on the Intermediate Holdco Collateral, actions with respect to the occurrence of an Event of
Default, actions with respect to the foreclosure upon, sale, release, or depreciation of, or
failure to realize upon, any of the security for the Obligations and actions with respect to the
collection of any claim for all or any part of the Obligations from any account debtor, guarantor
or any other party) in accordance with the respective Secured Debt Agreements or any other
agreement related thereto or to the collection of the Obligations or the valuation, use, protection
or release of the security for the Obligation, (ii) the Pledgee’s or the other Secured Creditors’
election, in any proceeding instituted under the Bankruptcy Code, of the application of Section
1111 (b) of the Bankruptcy Code and/or (iii) any borrowing of, or grant of a security interest or
administrative expense priority under Section 364 of the Bankruptcy Code to, any Pledgor as
debtor-in-possession.

          15.
Right to Amend, Etc. As between the TL Creditors, on the one hand, and the
Intermediate Holdco Creditors, on the other hand, it is agreed that the TL Creditors may at any
time and from time to time, in their sole discretion, and without any obligation to give any notice
or receive any consent from any Intermediate Holdco Creditor, in its capacity as such, (i) change
the manner, place or terms of payment, or change or extend the time of payment of, or renew, alter,
refinance, increase or add to the TL Obligations, (ii) obtain, release, or dispose of any
Collateral for the TL Obligations (subject, however, to Sections 20, 22, and 32 of the U.S. Pledge
Agreement), or (iii) amend or supplement in any manner the U.S. Pledge Agreement and the other
Credit Documents or any other agreements or instruments evidencing, securing or relating to the TL
Obligations (subject, however, in the case of the Credit Document Obligations, to Section 13.12 of
the Credit Agreement and Section 22 of the U.S. Pledge Agreement), and the

 

 

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provisions of this Annex I shall continue in full force and effect with respect to all such TL
Obligations.

          16. Nature of Obligations; Post-Petition Interest. Each Intermediate Holdco Creditor
hereby acknowledges and agrees that (i) the Intermediate Holdco Creditor’s claims against the
Pledgors in respect of the Collateral constitute junior claims separate and apart (and of a
different class and claim) from the senior claims of the TL Creditors’, against the Pledgors in
respect of the Collateral and (ii) the TL Obligations include all interest that accrues after the
commencement of any case, proceeding or other action relating to the bankruptcy, insolvency,
reorganization or similar proceeding of any Pledgor at the rate provided for in the respective
Secured Debt Agreements governing the same, whether or not a claim for post-petition interest is
allowed in any such case, proceeding or other action. To further effectuate the intent of the
parties as provided in the immediately preceding sentence, if it is held that the claims against
the Pledgors in respect of the Collateral constitute only one secured claim (rather than separate
classes of senior and junior claims), then each Intermediate Holdco Creditor hereby acknowl edges
and agrees that all distributions pursuant to Section 9 of the U.S. Pledge Agreement, or otherwise
shall be made as if there were separate classes of senior and junior secured claims against the
Pledgors in respect of the Collateral (with the effect being that, to the extent that the aggregate
value of the Collateral is sufficient (for this purpose ignoring all claims held by the
Intermediate Holdco Creditors), the TL Creditors shall be entitled to receive, in addition to
amounts distributed to them in respect of principal, pre-petition interest and other claims, all
amounts owing in respect of post-petition interest at relevant contract rate (even though such
claims may or may not be allowed in whole or in part in the respective bankruptcy, insolvency,
reorganization or similar proceeding) before any distribution is made in respect of the claims held
by the Intermediate Holdco Creditors, with the Intermediate Holdco Creditors hereby acknowledging
and agreeing to turn over to the holders of the TL Obligations all amounts otherwise received or
receivable by it to the extent needed to effectuate the intent of this sentence even if such
turn-over of amounts has the effect of reducing the amount of the claim of the Intermediate Holdco
Creditors.

          17. Successors and Assigns. Each of the agreements and acknowledgments made by each
Secured Creditor is made on behalf of itself and its successors and assigns and is deemed effective
by virtue of such Secured Creditor’s acceptance of the benefits of the U.S. Pledge Agreement and
the other Security Documents.

* * *

 

 

EXHIBIT H-2

 

U.S. SECURITY AGREEMENT

among

DHM HOLDING COMPANY, INC.,

DOLE HOLDING COMPANY, LLC,

DOLE FOOD COMPANY, INC.,

CERTAIN SUBSIDIARIES OF DHM HOLDING COMPANY, INC.

and

DEUTSCHE BANK AG NEW YORK BRANCH,

as COLLATERAL AGENT

 

Dated as of March 28, 2003 and Amended

and Restated as of April 12, 2006

 

 

 

 

	 	 	 	 	 
	ARTICLE I SECURITY INTERESTS
	 	 	3	 
	 
	 	 	 	 
	1.1. Grant of Security Interests
	 	 	3	 
	1.2. Power of Attorney
	 	 	5	 
	 
	 	 	 	 
	ARTICLE II GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS
	 	 	6	 
	 
	 	 	 	 
	2.1. Necessary Filings
	 	 	6	 
	2.2. No Liens
	 	 	6	 
	2.3. Other Financing Statements
	 	 	6	 
	2.4. Chief Executive Office, Record Locations
	 	 	6	 
	2.5. Location of Inventory and Included Equipment
	 	 	7	 
	2.6. Legal Names; Type of Organization (and Whether a Registered
Organization and/or a Transmitting Utility); Jurisdiction of Organization;
Location; Organizational Identification Numbers; Changes Thereto; etc.
	 	 	7	 
	2.7. Trade
Names; Etc.
	 	 	7	 
	2.8. Certain Significant Transactions
	 	 	8	 
	2.9. Non-UCC Property
	 	 	8	 
	2.10. As-Extracted Collateral; Timber-to-be-Cut
	 	 	8	 
	2.11. Collateral in the Possession of a Bailee
	 	 	8	 
	2.12. Recourse
	 	 	9	 
	 
	 	 	 	 
	ARTICLE III SPECIAL PROVISIONS CONCERNING INCLUDED ACCOUNTS;
INCLUDED CONTRACT RIGHTS; INCLUDED INSTRUMENTS;
CHATTEL PAPER AND CERTAIN OTHER COLLATERAL
	 	 	9	 
	 
	 	 	 	 
	3.1. Additional Representations and Warranties
	 	 	9	 
	3.2. Maintenance of Records
	 	 	9	 
	3.3.
Direction to Account Debtors; Contracting Parties; etc.
	 	 	10	 
	3.4.
Modification of Terms; etc.
	 	 	10	 
	3.5. Collection
	 	 	10	 
	3.6. Included Instruments
	 	 	11	 
	3.7. Assignors Remain Liable Under Included Accounts
	 	 	11	 
	3.8. Assignors Remain Liable Under Included Contracts
	 	 	11	 
	3.9. Deposit
Accounts; Etc.
	 	 	11	 
	3.10. Letter-of-Credit Rights
	 	 	13	 
	3.11. Commercial Tort Claims
	 	 	13	 
	3.12. Chattel Paper
	 	 	13	 
	3.13. Further Actions
	 	 	13	 
	 
	 	 	 	 
	ARTICLE IV SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES
	 	 	14	 
	 
	 	 	 	 
	4.1. Additional Representations and Warranties
	 	 	14	 
	4.2. Licenses and Assignments
	 	 	14	 
	4.3. Infringements
	 	 	14	 
	4.4. Preservation of Marks and Domain Names
	 	 	15	 

 

 

	 	 	 	 	 
	4.5. Maintenance of Registration
	 	 	15	 
	4.6. Future Registered Marks and Domain Names
	 	 	15	 
	4.7. Remedies
	 	 	15	 
	 
	 	 	 	 
	ARTICLE V SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS
AND TRADE SECRETS
	 	 	16	 
	 
	 	 	 	 
	5.1. Additional Representations and Warranties
	 	 	16	 
	5.2. Licenses and Assignments
	 	 	16	 
	5.3. Infringements
	 	 	16	 
	5.4. Maintenance of Patents or Copyright
	 	 	17	 
	5.5. Prosecution of Patent or Copyright Applications
	 	 	17	 
	5.6. Other Patents and Copyrights
	 	 	17	 
	5.7. Remedies
	 	 	17	 
	 
	 	 	 	 
	ARTICLE VI PROVISIONS CONCERNING ALL COLLATERAL
	 	 	17	 
	 
	 	 	 	 
	6.1. Protection of Collateral Agent’s Security
	 	 	17	 
	6.2. Warehouse Receipts Non-Negotiable
	 	 	18	 
	6.3. Additional Information
	 	 	18	 
	6.4. Further Actions
	 	 	18	 
	6.5. Financing Statements
	 	 	18	 
	 
	 	 	 	 
	ARTICLE VII REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT
	 	 	19	 
	 
	 	 	 	 
	7.1. Remedies; Obtaining the Collateral Upon Default
	 	 	19	 
	7.2. Remedies; Disposition of the Collateral
	 	 	20	 
	7.3. Waiver of Claims
	 	 	21	 
	7.4. Application of Proceeds
	 	 	22	 
	7.5. Remedies Cumulative
	 	 	26	 
	7.6. Discontinuance of Proceedings
	 	 	27	 
	 
	 	 	 	 
	ARTICLE VIII INDEMNITY
	 	 	27	 
	 
	 	 	 	 
	8.1. Indemnity
	 	 	27	 
	8.2. Indemnity Obligations Secured by Collateral; Survival
	 	 	28	 
	 
	 	 	 	 
	ARTICLE IX DEFINITIONS
	 	 	29	 
	 
	 	 	 	 
	ARTICLE X MISCELLANEOUS
	 	 	38	 
	 
	 	 	 	 
	10.1. Notices
	 	 	38	 
	10.2. Waiver; Amendment
	 	 	39	 
	10.3. Obligations Absolute
	 	 	40	 
	10.4. Successors and Assigns
	 	 	40	 
	10.5. Headings Descriptive
	 	 	40	 
	10.6. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE;
WAIVER OF JURY TRIAL
	 	 	40	 
	10.7. Assignor’s Duties
	 	 	41	 
	10.8. Termination; Release
	 	 	41	 

 

 

	 	 	 	 	 
	10.9. Counterparts
	 	 	43	 
	10.10. Severability
	 	 	43	 
	10.11. The Collateral Agent and the other Secured Creditors
	 	 	43	 
	10.12. Additional Assignors
	 	 	43	 
	10.13. Release of Assignors
	 	 	44	 

	 	 	 
	ANNEX A
	 	Schedule of Chief Executive Offices Address(es) of Chief Executive Office
	 
	ANNEX B
	 	Schedule of Inventory and Equipment Locations
	 
	ANNEX C
	 	Schedule of Legal Names, Type of Organization (and Whether a Registered
Organization and/or a Transmitting Utility), Jurisdiction of Organization,
Location and Organizational Identification Numbers
	 
	ANNEX D
	 	Schedule of Trade and Fictitious Names
	 
	ANNEX E
	 	Description of Certain Significant Transactions Occurring Within One Year
Prior to the Date of the U.S. Security Agreement
	 
	ANNEX F
	 	Schedule of Deposit Accounts
	 
	ANNEX G
	 	Form of Control Agreement Regarding Deposit Accounts
	 
	ANNEX H
	 	Schedule of Commercial Tort Claims
	 
	ANNEX I
	 	Schedule of Marks and Applications; Internet Domain Name Registrations
	 
	ANNEX J
	 	Schedule of Patents
	 
	ANNEX K
	 	Schedule of Copyrights
	 
	ANNEX L
	 	Grant of Security Interest in United States Trademarks
	 
	ANNEX M
	 	Grant of Security Interest in United States Patents
	 
	ANNEX N
	 	Grant of Security Interest in United States Copyrights
	 
	ANNEX O
	 	The Collateral Agent

 

 

EXHIBIT H-2

U.S. SECURITY AGREEMENT

          SECURITY AGREEMENT, dated as of March 28, 2003 and amended and restated as of April 12, 2006,
made by each of the undersigned assignors (each, an “Assignor” and, together with any
other entity that becomes an assignor hereunder pursuant to Section 10.12 hereof, the
“Assignors”) in favor of DEUTSCHE BANK AG NEW YORK BRANCH (in its individual capacity, and
any successor corporation thereto by merger, consolidation or otherwise, “DBAG”), as
Collateral Agent (together with any successor Collateral Agent, the “Collateral Agent”),
for the benefit of the Secured Creditors (as defined below). Certain capitalized terms as used
herein are defined in Article IX hereof. Except as otherwise defined herein, all capitalized terms
used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein
defined.

W I T N E S S E T H:

          WHEREAS, DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding
Company, LLC, a Delaware limited liability company (“Intermediate Holdco”), Dole Food
Company, Inc., a Delaware corporation (the “U.S. Borrower”), Solvest, Ltd., a company
organized under the laws of Bermuda (the “Bermuda Borrower”, and together with the U.S.
Borrower, the “Borrowers”), various financial institutions from time to time party thereto
(the “Lenders”), DBAG, as Deposit Bank (in such capacity, together with any successor
deposit bank, the “Deposit Bank”), DBAG, as Administrative Agent (in such capacity,
together with any successor agent, the “Administrative Agent”), Banc of America Securities
LLC, as Syndication Agent (in such capacity, together with any successor agent, the
“Syndication Agent”), The Bank of Nova Scotia, as Documentation Agent (in such capacity,
together with any successor agent, the “Documentation Agent”), and Deutsche Bank Securities
Inc., as Lead Arranger and Sole Book Runner (in such capacity, the “Lead Arranger”, and,
together with the Lenders, each Issuing Lender, each Bank Guaranty Issuer, the Administrative
Agent, the Syndication Agent, the Documentation Agent and the Collateral Agent, collectively, the
“Lender Creditors”) have entered into a Credit Agreement, dated as of March 28, 2003,
amended and restated as of April 18, 2005, and further amended and restated as of April 12, 2006,
providing for the making of Loans to each of the Borrowers, the issuance of, and participation in,
Letters of Credit for the respective accounts of each of the Borrowers and the issuance of, and
participation in, Bank Guaranties for the respective accounts of each of Borrowers, all as
contemplated therein (as used herein, the term “Credit Agreement” means the Credit
Agreement described above in this paragraph, as the same may be amended, modified, extended,
renewed, replaced, restated, supplemented or refinanced from time to time, and including any
agreement extending the maturity of, or refinancing or restructuring (including, but not limited
to, the inclusion of additional borrowers or guarantors thereunder or any increase in the amount
borrowed) all or any portion of, the indebtedness under such agreement or any successor agreement,
whether or not with the same agent, trustee, representative, lenders or holders; provided
that, with respect to any agreement providing for the refinancing or replacement of indebtedness
under the Credit Agreement, such agreement shall only be treated as, or as part of, the Credit
Agreement hereunder if (i) either (A) all obligations under the Credit Agreement being refinanced
or replaced shall be paid in full at the time of such refinancing or replacement, and all
commitments, letters of credit and bank guaranties issued pursuant to the refinanced or replaced
Credit Agreement

 

 

Page 2

shall have terminated in accordance with their terms or, with respect to certain Letters of Credit
and Bank Guaranties, been continued, with the consent of the respective issuer thereof, under such
refinancing or replacement indebtedness or (B) the Required Lenders shall have consented in writing
to the refinancing or replacement indebtedness being treated as indebtedness pursuant to the Credit
Agreement, and (ii) a notice to the effect that the refinancing or replacement indebtedness shall
be treated as issued under the Credit Agreement shall be delivered by the U.S. Borrower to the
Collateral Agent);

          WHEREAS, each Borrower and/or one or more of their respective Subsidiaries may at any time
and from time to time enter into (or has on or after the Original Effective Date (as defined in
the Original Credit Agreement) entered into at any time and from time to time) one or more
Interest Rate Protection Agreements or Other Hedging Agreements with one or more Secured Hedge
Counterparties (each such Secured Hedge Counterparty, together with each such Permitted Hedge
Counterparty’s respective affiliates’ successors and assigns, if any, collectively, the
“Hedging Creditors”);

          WHEREAS, pursuant to the U.S. Subsidiaries Guaranty, each U.S. Subsidiary Guarantor has
jointly and severally guaranteed to the Secured Creditors the payment when due of all Guaranteed
Obligations (as defined in the U.S. Subsidiaries Guaranty);

          WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings, Intermediate
Holdco and the U.S. Borrower has guaranteed to the Secured Creditors the payment when due of all
its respective Relevant Guaranteed Obligations;

          WHEREAS, the Intercreditor Agreement governs the relative rights and priorities of the
Secured Creditors and the ABL Secured Parties in respect of the TL Priority Collateral and the ABL
Priority Collateral;

          WHEREAS, it is a condition precedent to the making of Loans to each of the Borrowers, the
issuance of, and participation in, Letters of Credit for the respective accounts of the Borrowers
and the issuance of, and participation in, Bank Guaranties for the respective accounts of the
Borrowers under the Credit Agreement and to the Hedging Creditors entering into Interest Rate
Protection Agreements and Other Hedging Agreements that each Assignor shall have executed and
delivered to the Collateral Agent this Agreement; and

          WHEREAS, each Assignor will obtain benefits from the incurrence of Loans by the Borrowers,
the issuance of, and participation in, Letters of Credit for the respective accounts of, the
Borrowers and the issuance of, and participation in, Bank Guaranties for the respective accounts
of the Borrowers under the Credit Agreement, and the entering into by the Borrowers and/or one or
more of their respective Subsidiaries of Interest Rate Protection Agreements and/or Other Hedging
Agreements and, accordingly, each Assignor desires to enter into this Agreement in order to
satisfy the condition described in the preceding paragraph;

          NOW, THEREFORE, in consideration of the benefits accruing to each Assignor, the receipt and
sufficiency of which are hereby acknowledged, each Assignor hereby makes the following
representations and warranties to the Collateral Agent for the benefit of the Secured

 

 

Page 3

Creditors and hereby covenants and agrees with the Collateral Agent for the benefit of the Secured
Creditors as follows:

ARTICLE I

SECURITY INTERESTS

          1.1. Grant of Security Interests. (a) Subject to the terms of the Intercreditor
Agreement with respect to rights and remedies between the Collateral Agent and the ABL Collateral
Agent, as security for the prompt and complete payment and performance when due of all of its
Obligations, each Assignor does hereby assign and transfer unto the Collateral Agent, and does
hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a
continuing security interest in all of the right, title and interest of such Assignor in, to and
under all of the following personal property and fixtures (and all rights therein) of such
Assignor, or in which or to which such Assignor has any rights, in each case whether now existing
or hereafter from time to time acquired:

	 	(i)	 	each and every Account;
	 
	 	(ii)	 	all cash;
	 
	 	(iii)	 	the Cash Collateral Account and all monies, securities, Instruments
and other investments deposited or required to be deposited in the Cash Collateral
Account;
	 
	 	(iv)	 	all Chattel Paper (including, without limitation, all Tangible Chattel
Paper and all Electronic Chattel Paper);
	 
	 	(v)	 	all Commercial Tort Claims;
	 
	 	(vi)	 	all computer programs of such Assignor and all intellectual property
rights therein and all other proprietary information of such Assignor, including
but not limited to Domain Names and Trade Secret Rights;
	 
	 	(vii)	 	all Contracts, together with all Contract Rights arising thereunder;
	 
	 	(viii)	 	all Copyrights;
	 
	 	(ix)	 	all Deposit Accounts and all other demand, deposit, time, savings,
cash management, passbook and similar accounts maintained by such Assignor with
any Person and all monies, securities, Instruments and other investments deposited
or required to be deposited in any of the foregoing;
	 
	 	(x)	 	all Documents;
	 
	 	(xi)	 	all Equipment;
	 
	 	(xii)	 	all General Intangibles;

 

 

Page 4

	 	(xiii)	 	all Goods (including, without limitation, crops grown, growing or to be grown);
	 
	 	(xiv)	 	all Instruments;
	 
	 	(xv)	 	all Inventory;
	 
	 	(xvi)	 	all Investment Property (other than Investment Property pledged
pursuant to the U.S. Pledge Agreement);
	 
	 	(xvii)	 	all Letter-of-Credit Rights (whether or not the respective letter of credit is
evidenced by a writing);
	 
	 	(xviii)	 	all Marks, together with the registrations and right to all renewals thereof,
and the goodwill of the business of such Assignor symbolized by the Marks;
	 
	 	(xix)	 	all Patents;
	 
	 	(xx)	 	all Permits;
	 
	 	(xxi)	 	all Software and all Software licensing rights, all writings, plans,
specifications and schematics, all engineering drawings, customer lists, goodwill
and licenses, and all recorded data of any kind or nature, regardless of the medium
of recording;
	 
	 	(xii)	 	all Farm Products;
	 
	 	(xxiii)	 	all Supporting Obligations; and
	 
	 	(xxiv)	 	all Proceeds (other than Excluded Proceeds) and products of any and all of the
foregoing (all of the above, the “Collateral”).

          (b) The security interest of the Collateral Agent under this Agreement extends to all
Collateral which any Assignor may acquire, or with respect to which any Assignor may obtain rights,
at any time during the term of this Agreement.

          (c) Notwithstanding anything to the contrary contained in clauses (a) and (c) above, the
security interest created by this Agreement shall not extend to, and the term “Collateral” shall
not include, Excluded Collateral owned by any Assignor.

          (d) Notwithstanding anything herein to the contrary, (A) the term “Collateral” shall not
include any governmental license, permit or other approval that, under the terms and conditions of
such governmental license, permit or approval or under applicable law, cannot be subjected to a
Lien in favor of the Secured Creditors without the consent of the relevant governmental authority
which consent has not been obtained; provided, however, that (i) the right to
receive payments of money in respect of such licenses, permits or approvals shall not be excluded
from the “Collateral” or the security interest created hereunder and (ii) such rights and

 

 

Page 5

assets described above shall be excluded from the Collateral only to the extent and for so long as
such license, permit or other agreement continues validly to prohibit the creation of such
security interest, and upon the expiration of such prohibition (by consent or otherwise), the
licenses, permits or other approvals (or interest therein) as to which such prohibition previously
applied shall automatically be included in the Collateral, without further action on the part of
any Assignor, the Collateral Agent or any other Secured Creditor, and (B) each Assignor agrees to
use its commercially reasonable best efforts to obtain and maintain in full force and effect all
consents contemplated pursuant to clause (i) of the preceding proviso.

          (e) Notwithstanding anything to the contrary contained in this Section 1.1 or
elsewhere in this Agreement, each Assignor and the Collateral Agent (on behalf of the Secured
Creditors) acknowledges and agrees that:

     (x) the security interest granted pursuant to this Agreement (including
pursuant to this Section 1.1) to the Collateral Agent for the benefit of the
Secured Creditors (i) in the TL Priority Collateral, shall be a First Priority
Lien and (ii) in the ABL Priority Collateral, shall be a Second Priority Lien
fully junior, subordinated and subject to the security interest granted to the
ABL Collateral Agent for the benefit of the ABL Secured Parties in the ABL
Priority Collateral on the terms and conditions set forth in the ABL Credit
Documents and the Intercreditor Agreement and all other rights and benefits
afforded hereunder to the Secured Creditors with respect to the ABL Priority
Collateral are expressly subject to the terms and conditions of the
Intercreditor Agreement; and

     (y) the Secured Creditors’ security interests in the Collateral
constitute security interests separate and apart (and of a different class and
claim) from the ABL Secured Parties’ security interests in the Collateral.

          (f) NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY,
THE RELATIVE RIGHTS AND REMEDIES OF THE COLLATERAL AGENT AND THE
SECURED CREDITORS HEREUNDER SHALL BE SUBJECT TO AND GOVERNED BY
THE TERMS OF THE INTERCREDITOR AGREEMENT AT ANY TIME THE
INTERCREDITOR AGREEMENT IS IN EFFECT. IN THE EVENT OF ANY
INCONSISTENCY BETWEEN THE TERMS HEREOF AND THE TERMS OF THE
INTERCREDITOR AGREEMENT, THE TERMS OF THE INTERCREDITOR AGREEMENT
SHALL CONTROL AT ANY TIME THE INTERCREDITOR AGREEMENT IS IN EFFECT.

          1.2. Power of Attorney. Each Assignor hereby constitutes and appoints the Collateral
Agent its true and lawful attorney, irrevocably, with full power after the occurrence of and during
the continuance of an Event of Default (in the name of such Assignor or otherwise) to act, require,
demand, receive, compound and give acquittance for any and all moneys and claims for moneys due or
to become due to such Assignor under or arising out of the Collateral, to endorse any checks or
other instruments or orders in connection therewith and to file any claims or take any action or
institute any proceedings which the Collateral Agent may deem to be necessary or advisable in the
good faith opinion of the Collateral Agent to protect the interests of the Secured Creditors, which
appointment as attorney is coupled with an interest.

 

 

Page 6

ARTICLE II

GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS

          Each Assignor represents, warrants and covenants, which representations, warranties and
covenants shall survive execution and delivery of this Agreement, as follows:

          2.1. Necessary Filings. All filings, registrations, recordings and other actions
necessary or appropriate to create and preserve the security interest granted by such Assignor to
the Collateral Agent hereby in respect of the Collateral have been accomplished and the security
interest granted to the Collateral Agent pursuant to this Agreement in and to the Collateral
creates a valid and, together with all such filings, registrations, recordings and other actions,
a perfected security interest therein prior to the rights of all other Persons therein and subject
to no other Liens (other than Permitted Liens) and is entitled to all the rights, priorities and
benefits afforded by the Uniform Commercial Code or other relevant law as enacted in any relevant
jurisdiction to perfected security interests, in each case to the extent that the Collateral
consists of the type of property in which a security interest may be perfected by possession or
control (within the meaning of the UCC as in effect on the Restatement Effective Date in the State
of New York), by filing a financing statement under the Uniform Commercial Code as enacted in any
relevant jurisdiction or by a filing of a Grant of Security Interest in the respective form
attached hereto in the United States Patent and Trademark Office or in the United States Copyright
Office.

          2.2. No Liens. Such Assignor is, and as to all Collateral acquired by it from time to
time after the Restatement Effective Date such Assignor will be, the owner of all Collateral free
from any Lien, security interest, encumbrance or other right, title or interest of any Person
(other than Permitted Liens), and such Assignor shall defend the Collateral against all claims and
demands of all Persons at any time claiming the same or any interest therein adverse to the
interests of the Collateral Agent in any material respect.

          2.3. Other Financing Statements. As of the Restatement Effective Date, there is no
financing statement (or similar statement or instrument of registration under the law of any
jurisdiction) covering or purporting to cover any interest of any kind in the Collateral (other
than financing statements filed in respect of Permitted Liens), and so long as the Termination Date
has not occurred, such Assignor will not execute or authorize to be filed in any public office any
financing statement (or similar statement or instrument of registration under the law of any
jurisdiction) or statements relating to the Collateral, except financing statements filed or to be
filed in respect of and covering the security interests granted hereby by such Assignor or in
connection with Permitted Liens.

          2.4. Chief Executive Office, Record Locations. The chief executive office of such
Assignor is, on the Restatement Effective Date, located at the address indicated on Annex A
hereto for such Assignor. During the period of the four calendar months preceding the date of
this Agreement, the chief executive office of such Assignor has not been located at any address
other than that indicated on Annex A in accordance with the immediately preceding
sentence, in each case unless each such other address is also indicated on Annex A hereto
for such Assignor.

 

 

Page 7

          2.5. Location of Inventory and Included Equipment. All Inventory and Included
Equipment held on the Restatement Effective Date, or held at any time during the four calendar
months prior to the Restatement Effective Date, by each Assignor is located at one of the locations
shown on Annex B hereto for such Assignor.

          2.6. Legal Names; Type of Organization (and Whether a Registered Organization and/or a
Transmitting Utility); Jurisdiction of Organization; Location; Organizational Identification
Numbers; Changes Thereto; etc. On the Restatement Effective Date, the exact legal name of each
Assignor, the type of organization of such Assignor, whether or not such Assignor is a Registered
Organization, the jurisdiction of organization of such Assignor, such Assignor’s Location, the
organizational identification number (if any) of such Assignor, and whether or not such Assignor is
a Transmitting Utility, is listed on Annex C hereto for such Assignor. Such Assignor shall
not change its legal name, its type of organization, its status as a Registered Organization (in
the case of a Registered Organization), its status as a Transmitting Utility or as a Person which
is not a Transmitting Utility, as the case may be, its jurisdiction of organization, its Location,
or its organizational identification number (if any) from that used on Annex C hereto,
except that any such changes shall be permitted (so long as not in violation of the applicable
requirements of the Lender Secured Financing Documents and so long as same do not involve (x) a
Registered Organization ceasing to constitute same or (y) such Assignor changing its jurisdiction
of organization or Location from the United States or a State thereof to a jurisdiction of
organization or Location, as the case may be, outside the United States or a State thereof) if (i)
it shall have given to the Collateral Agent not less than 10 days’ prior written notice of each
change to the information listed on Annex C (as adjusted for any subsequent changes thereto
previously made in accordance with this sentence), together with a supplement to Annex C
which shall correct all information contained therein for such Assignor, and (ii) in connection
with the respective such change or changes, it shall have taken all action reasonably requested by
the Collateral Agent to maintain the security interests of the Collateral Agent in the Collateral
intended to be granted hereby at all times fully perfected and in full force and effect. In
addition, to the extent that such Assignor does not have an organizational identification number on
the Restatement Effective Date and later obtains one, such Assignor shall promptly thereafter
notify the Collateral Agent of such organizational identification number and shall take all actions
reasonably satisfactory to the Collateral Agent to the extent necessary to maintain the security
interest of the Collateral Agent in the Collateral intended to be granted hereby fully perfected
and in full force and effect.

          2.7. Trade Names; Etc. Such Assignor does not have or operate in any jurisdiction
under, or in the five years preceding the Restatement Effective Date has not had or has not
operated in any jurisdiction under, any material trade names, fictitious names or other names
except its legal name as specified in Annex C and such other trade or fictitious names as
are listed on Annex D hereto for such Assignor. Such Assignor shall not assume or operate
in any jurisdiction under any material new trade, fictitious or other name until (i) it shall have
given to the Collateral Agent not less than 10 days’ written notice of its intention so to do,
clearly describing such new name and the jurisdictions in which such new name will be used and
providing such other information in connection therewith as the Collateral Agent may reasonably
request and (ii) with respect to such new name, it shall have taken all action reasonably
requested

 

 

Page 8

by the Collateral Agent to maintain the security interest of the Collateral Agent in the Collateral
intended to be granted hereby at all times fully perfected and in full force and effect.

          2.8. Certain Significant Transactions. During the one year period preceding the
Restatement Effective Date, no Person shall have merged or consolidated with or into any Assignor,
and no Person shall have liquidated into, or transferred all or substantially all of its assets
to, any Assignor, in each case except in connection with the Foreign Assets Transfers, and except
as described in Annex E hereto. With respect to any transactions so described in Annex
E hereto, the respective Assignor shall have furnished such information with respect to the
Person (and the assets of the Person and locations thereof) which merged with or into or
consolidated with such Assignor, or was liquidated into or transferred all or substantially all of
its assets to such Assignor, and shall have furnished to the Collateral Agent such UCC lien
searches as may have been requested with respect to such Person and its assets, to establish that
no security interest (excluding Permitted Liens) continues perfected on the Restatement Effective
Date with respect to any Person described above (or the assets transferred to the respective
Assignor by such Person), including without limitation pursuant to Section 9-316(a)(3) of the UCC.

          2.9. Non-UCC Property. If the aggregate fair market value (as determined by the
Assignors in good faith) of all property of the types described in clauses (1), (2) and (3) of
Section 9-311(a) of the UCC at any time owned by all Assignors exceeds $15,000,000, the Assignors
shall provide prompt written notice thereof to the Collateral Agent and, upon the request of the
Collateral Agent, the Assignors shall promptly (and in any event within 30 days) take such actions
(at their own cost and expense) as may be required under the respective United States, State or
other laws referenced in Section 9-311(a) of the UCC to perfect the security interests granted
herein in any Collateral where the filing of a financing statement does not perfect the security
interest in such property in accordance with the provisions of Section 9-311(a) of the UCC.

          2.10. As-Extracted Collateral; Timber-to-be-Cut. On the Restatement Effective Date,
such Assignor does not own, or expect to acquire, any property which constitutes, or would
constitute, As-Extracted Collateral or Timber-to-be-Cut. If at any time after the date of this
Agreement such Assignor owns, acquires or obtains rights to any As-Extracted Collateral or
Timber-to-be-Cut, such Assignor shall furnish the Collateral Agent with prompt written notice
thereof (which notice shall describe in reasonable detail or the As-Extracted Collateral and/or
Timber-to-be-Cut and the locations thereof) and shall take all actions as may be deemed reasonably
necessary or desirable by the Collateral Agent to perfect the security interest of the Collateral
Agent therein.

          2.11. Collateral in the Possession of a Bailee. Subject to the provisions of the
Intercreditor Agreement, if a Specified Default or an Event of Default shall occur and if any
Inventory or other Goods are at any time in the possession of a bailee, such Assignor shall
promptly notify the Collateral Agent thereof and, if requested by the Collateral Agent, shall use
its reasonable best efforts to promptly obtain an acknowledgment from such bailee, in form and
substance reasonably satisfactory to the Collateral Agent, that the bailee holds such Collateral
for the benefit of the Collateral Agent and shall act upon the instructions of the Collateral
Agent, without the further consent of such Assignor. The Collateral Agent agrees with such Assignor
that the Collateral Agent shall not give any such instructions unless an Event of Default has

 

 

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occurred and is continuing or would occur after taking into account any action by the respective
Assignor with respect to any such bailee.

          2.12. Recourse. This Agreement is made with full recourse to each Assignor and
pursuant to and upon all the warranties, representations, covenants and agreements on the part of
such Assignor contained herein and in the other Secured Debt Agreements and otherwise in writing
in connection herewith or therewith.

ARTICLE III

SPECIAL PROVISIONS CONCERNING INCLUDED ACCOUNTS; INCLUDED

CONTRACT RIGHTS; INCLUDED INSTRUMENTS; CHATTEL PAPER AND CERTAIN

OTHER COLLATERAL

          3.1. Additional Representations and Warranties. As of the time when each of its
Included Accounts arises, each Assignor shall be deemed to have represented and warranted that each
such Included Account, and all records, papers and documents relating thereto (if any) are genuine
and what they purport to be, and that all papers and documents (if any) relating thereto (i) will,
to the knowledge of such Assignor, represent the genuine, legal, valid and binding obligation of
the account debtor evidencing indebtedness unpaid and owed by the respective account debtor arising
out of the performance of labor or services or the sale or lease and delivery of the merchandise
listed therein, or both, (ii) will be the only original writings evidencing and embodying such
obligation of the account debtor named therein (other than copies created for general accounting
purposes), (iii) will, to the knowledge of such Assignor, evidence true and valid obligations,
enforceable in accordance with their respective terms, and (iv) will be in compliance and will
conform in all material respects with all applicable federal, state and local laws and applicable
laws of any relevant foreign jurisdiction.

          3.2. Maintenance of Records. Each Assignor will keep and maintain at its own cost and
expense accurate records of its Included Accounts and Included Contracts, including, but not
limited to, originals of all documentation (including each Included Contract) with respect thereto,
records of all payments received, all credits granted thereon, all merchandise returned and all
other dealings therewith, and such Assignor will make the same available on such Assignor’s
premises to the Collateral Agent for inspection, at such Assignor’s own cost and expense, at any
and all reasonable times upon prior notice to such Assignor and otherwise in accordance with the
Credit Agreement. Upon the occurrence and during the continuance of an Event of Default and at the
request of the Collateral Agent, such Assignor shall, at its own cost and expense, deliver all
tangible evidence of its Included Accounts and Included Contract Rights (including, without
limitation, all documents evidencing the Included Accounts and all Included Contracts) and such
books and records to the Collateral Agent or to its representatives (copies of which evidence and
books and records may be retained by such Assignor). Upon the occurrence and during the continuance
of an Event of Default and if the Collateral Agent so directs, such Assignor shall legend, in form
and manner satisfactory to the Collateral Agent, the Included Accounts and the Included Contracts,
as well as books, records and documents (if any) of such Assignor evidencing or pertaining to such
Included Accounts and Included Contracts with an appropriate reference to the fact that such
Included Accounts and Included Contracts have been assigned to the Collateral Agent and that the
Collateral Agent has a security interest therein.

 

 

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          3.3. Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and
during the continuance of an Event of Default, if the Collateral Agent so directs, subject to the
provisions of the Intercreditor Agreement, any Assignor, such Assignor agrees (x) to cause all
payments on account of the Included Accounts and Included Contracts to be made directly to the
Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the
obligors with respect to any Included Accounts and/or under any Included Contracts to make
payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral
Agent may enforce collection of any such Included Accounts and Included Contracts and may adjust,
settle or compromise the amount of payment thereof, in the same manner and to the same extent as
such Assignor. Without notice to or assent by any Assignor, the Collateral Agent may, upon the
occurrence and during the continuance of an Event of Default, subject to the provisions of the
Intercreditor Agreement, apply any or all amounts then in, or thereafter deposited in, the Cash
Collateral Account toward the payment of the Obligations in the manner provided in Section 7.4 of
this Agreement. The reasonable costs and expenses of collection (including reasonable attorneys’
fees), whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant
Assignor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding
clause (y) to the relevant Assignor, provided that (x) the failure by the Collateral Agent
to so notify such Assignor shall not affect the effectiveness of such notice or the other rights
of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an
Event of Default of the type described in Section 10.05 of the Credit Agreement has occurred and
is continuing.

          3.4. Modification of Terms; etc. Except in accordance with such Assignor’s ordinary
course of business and consistent with reasonable business judgment or as permitted by Section
3.5, no Assignor shall rescind or cancel any indebtedness evidenced by any Included Account or
under any Included Contract, or modify any material term thereof or make any material adjustment
with respect thereto, or extend or renew the same, or compromise or settle any material dispute,
claim, suit or legal proceeding relating thereto, or sell any Included Account or Included
Contract, or interest therein, without the prior written consent of the Collateral Agent. No
Assignor will do anything to impair the security interests of the Collateral Agent in the Included
Accounts or Included Contracts.

          3.5. Collection. Each Assignor shall endeavor in accordance with reasonable business
practices to cause to be collected from the account debtor named in each of its Included Accounts
or obligor under any Included Contract, as and when due (including, without limitation, amounts
which are delinquent, such amounts to be collected in accordance with generally accepted lawful
collection procedures) any and all amounts owing under or on account of such Included Account or
Included Contract, and apply forthwith upon receipt thereof all such amounts as are so collected to
the outstanding balance of such Included Account or under such Included Contract. Except as
otherwise directed by the Collateral Agent after the occurrence and during the continuation of an
Event of Default, any Assignor may allow in the ordinary course of business as adjustments to
amounts owing under its Included Accounts and Included Contracts (i) an extension or renewal of the
time or times of payment, or settlement for less than the total unpaid balance, which such Assignor
finds appropriate in accordance with reasonable business judgment and (ii) a refund or credit due
as a result of returned or damaged merchandise or improperly performed services or for other
reasons which such Assignor finds appropriate in

 

 

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accordance with reasonable business judgment. The reasonable costs and expenses (including,
without limitation, reasonable attorneys’ fees) of collection, whether incurred by an Assignor or
the Collateral Agent, shall be borne by the relevant Assignor.

          3.6. Included Instruments. Subject to the terms of the Intercreditor Agreement, if
any Assignor owns or acquires any Included Instrument in excess of $500,000 constituting
Collateral (other than checks and other payment instruments received and collected in the ordinary
course of business), such Assignor will within 10 Business Days notify the Collateral Agent
thereof, and upon request by the Collateral Agent will promptly deliver such Included Instrument
to the Collateral Agent appropriately endorsed to the order of the Collateral Agent.

          3.7. Assignors Remain Liable Under Included Accounts. Anything herein to the contrary
notwithstanding, the Assignors shall remain liable under each of the Included Accounts to observe
and perform all of the conditions and obligations to be observed and performed by them thereunder,
all in accordance in all material respects with the terms of any agreement giving rise to such
Included Accounts. Neither the Collateral Agent nor any other Secured Creditor shall have any
obligation or liability under any Included Account (or any agreement giving rise thereto) by reason
of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured
Creditor of any payment relating to such Included Account pursuant hereto, nor shall the Collateral
Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of
any Assignor under or pursuant to any Included Account (or any agreement giving rise thereto), to
make any payment, to make any inquiry as to the nature or the sufficiency of any payment received
by them or as to the sufficiency of any performance by any party under any Included Account (or any
agreement giving rise thereto), to present or file any claim, to take any action to enforce any
performance or to collect the payment of any amounts which may have been assigned to them or to
which they may be entitled at any time or times.

          3.8. Assignors Remain Liable Under Included Contracts. Anything herein to the
contrary notwithstanding, the Assignors shall remain liable under each of the Included Contracts
to observe and perform all of the conditions and obligations to be observed and performed by them
thereunder, all in accordance in all material respects with and pursuant to the terms and
provisions of each Included Contract. Neither the Collateral Agent nor any other Secured Creditor
shall have any obligation or liability under any Included Contract by reason of or arising out of
this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment
relating to such Included Contract pursuant hereto, nor shall the Collateral Agent or any other
Secured Creditor be obligated in any manner to perform any of the obligations of any Assignor
under or pursuant to any Included Contract, to make any payment, to make any inquiry as to the
nature or the sufficiency of any performance by any party under any Included Contract, to present
or file any claim, to take any action to enforce any performance or to collect the payment of any
amounts which may have been assigned to them or to which they may be entitled at any time or
times.

          3.9. Deposit Accounts; Etc. (a) No Assignor maintains, or at any time after the date
of this Agreement shall establish or maintain, any demand, time, savings, passbook or similar
account, except for such accounts maintained with a bank (as defined in Section 9-102 of the UCC)
whose jurisdiction (determined in accordance with Section 9-304 of the UCC) is

 

 

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within a State of the United States. Annex F hereto accurately sets forth, as of the
Restatement Effective Date, for each Assignor, each Deposit Account maintained by such Assignor
(including a description thereof and the respective account number), the name of the respective
bank with which such Deposit Account is maintained, and the jurisdiction of the respective bank
with respect to such Deposit Account and (other than (i) the Cash Collateral Account or any other
Deposit Account maintained with the Collateral Agent, (ii) Deposit Accounts with an aggregate
monthly balance of less than $500,000, provided that, with respect to this clause (ii)
only, the aggregate amount in all such Deposit Accounts excluded pursuant to this clause (ii) does
not exceed $5,000,000 at any time, (iii) deposit accounts specially and exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the
Assignors’ salaried employees, (iv) such other accounts used solely for disbursement purposes and
(v) prior to the ABL Credit Document Obligations Termination Date, Deposit Accounts which
constitute ABL Priority Collateral) for each such Deposit Account, the respective Assignor shall
subject to the provisions of the Intercreditor Agreement and Section 3.14 hereof, cause the bank
with which the Deposit Account is maintained to execute and deliver to the Collateral Agent, within
90 days after the Restatement Effective Date or, if later, at the time of the establishment of the
respective Deposit Account, a “control agreement” in the form of Annex G hereto
(appropriately completed), with such changes thereto as may be acceptable to the Collateral Agent.
If any bank with which a Deposit Account is maintained refuses to, or does not, enter into such a
“control agreement” (except to the extent that, prior to the ABL Credit Document Obligations
Termination Date, the respective Deposit Account constitute ABL Priority Collateral), then the
respective Assignor shall promptly (and in any event within 90 days after the date of this
Agreement or, if later, 30 days after the establishment of such account) close the respective
Deposit Account and transfer all balances therein to the Cash Collateral Account or another Deposit
Account meeting the requirements of this Section 3.9. If any bank with which a Deposit Account is
maintained (except to the extent that, prior to the ABL Credit Document Obligations Termination
Date, the respective Deposit Account constitute ABL Priority Collateral) refuses to subordinate all
its claims with respect to such Deposit Account to the Collateral Agent’s security interest therein
on terms reasonably satisfactory to the Collateral Agent, then the Collateral Agent, at its option,
may (x) require that such Deposit Account be terminated in accordance with the immediately
preceding sentence or (y) agree to a “control agreement” without such subordination,
provided that in such event the Collateral Agent may at any time, at its option,
subsequently require that such Deposit Account be terminated (within 90 days after notice from the
Collateral Agent) in accordance with the requirements of the immediately preceding sentence.

          (b) After the date of this Agreement, no Assignor shall establish any new demand, time,
savings, passbook or similar account, except for Deposit Accounts established and maintained with
banks and meeting the requirements of preceding clause (a) (or to the extent that, prior to the
ABL Credit Document Obligations Termination Date, the respective Deposit Account constitutes ABL
Priority Collateral). At the time any such Deposit Account is established, the appropriate
“control agreement” shall be entered into in accordance with the requirements of preceding clause
(a) and the respective Assignor shall furnish to the Collateral Agent a supplement to Annex
F hereto containing the relevant information with respect to the respective Deposit Account
and the bank with which same is established.

 

 

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          3.10. Letter-of-Credit Rights. If any Assignor is at any time a beneficiary under a
letter of credit with a stated amount of $2,000,000 or more, such Assignor shall promptly notify
the Collateral Agent thereof and, at the request of the Collateral Agent, such Assignor shall,
pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use
its reasonable best efforts to (i) arrange for the issuer and any confirmer of such letter of
credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under
such letter of credit or (ii) arrange for the Collateral Agent, subject to the provisions of the
Intercreditor Agreement, to become the transferee beneficiary of such letter of credit, with the
Collateral Agent agreeing, in each case, that the proceeds of any drawing under the letter of
credit are to be applied as provided in this Agreement and the Intercreditor Agreement after the
occurrence and during the continuance of an Event of Default.

          3.11. Commercial Tort Claims. All Commercial Tort Claims of each Assignor in existence
on the date of this Agreement are described in Annex H hereto. If any Assignor shall at any
time after the date of this Agreement acquire a Commercial Tort Claim in an amount (taking the
greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of
$2,000,000 or more, such Assignor shall promptly notify the Collateral Agent thereof in a writing
signed by such Assignor and describing the details thereof and shall grant to the Collateral Agent
in such writing a security interest therein and in the proceeds thereof, all upon the terms of this
Agreement and the Intercreditor Agreement, with such writing to be in form and substance reasonably
satisfactory to the Collateral Agent.

          3.12. Chattel Paper. Upon the reasonable request of the Collateral Agent made at any
time or from time to time, each Assignor shall promptly furnish to the Collateral Agent a list of
all Electronic Chattel Paper held or owned by such Assignor. Furthermore, if reasonably requested
by the Collateral Agent, each Assignor shall promptly take all actions which are reasonably
practicable so that the Collateral Agent, subject to the provisions of the Intercreditor Agreement,
has “control” of all Electronic Chattel Paper in accordance with the requirements of Section 9-105
of the UCC. Each Assignor will promptly (and in any event within 10 days) following any reasonable
request by the Collateral Agent, subject to the provisions of the Intercreditor Agreement, deliver
all of its Tangible Chattel Paper to the Collateral Agent.

          3.13. Further Actions. Each Assignor will, at its own expense, make, execute, endorse,
acknowledge, file and/or deliver to the Collateral Agent from time to time such vouchers, invoices,
schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements,
certificates, reports and other assurances or instruments and take such further steps, including
any and all actions as may be necessary or required under the Federal Assignment of Claims Act,
relating to its Included Accounts, Included Contracts, Included Instruments and other property or
rights covered by the security interest hereby granted, as the Collateral Agent may reasonably
require.

          3.14. Overriding Provisions with respect to ABL Priority Collateral. Notwithstanding
anything to the contrary contained above in this Article III, or elsewhere in this Agreement or any
other Security Agreement, to the extent the provisions of this Agreement (or any other Security
Documents) require the delivery of, or control over, ABL Priority Collateral to be granted to the
Collateral Agent at any time prior to the ABL Credit Documents Obligations Termination Date, then
delivery of such ABL Priority Collateral (or control with respect thereto)

 

 

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shall instead be granted to the ABL Collateral Agent, to be held in accordance with the ABL Credit
Documents and the Intercreditor Agreement. Furthermore, at all times prior to the ABL Credit
Document Obligations Termination Date, the Collateral Agent is authorized by the parties hereto to
effect transfers of ABL Priority Collateral at any time in its possession (and any “control” or
similar agreements with respect to ABL Priority Collateral) to the ABL Collateral Agent.

ARTICLE IV

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES

          4.1. Additional Representations and Warranties. Each Assignor represents and warrants
that, on the Restatement Effective Date, it is the true and lawful owner of or otherwise has the
right to use the registered Marks and Domain Names listed in Annex I hereto for such
Assignor and that said listed Marks and Domain Names include all United States marks and
applications for United States marks registered in the United States Patent and Trademark Office
and all Domain Names that such Assignor owns or uses in connection with its business as of the
Restatement Effective Date. Each Assignor represents and warrants that it owns, is licensed to use
or otherwise has the right to use, all material Marks and Domain Names that it uses. Each Assignor
further warrants that no Senior Officer of such Assignor has knowledge of any third party claim
received by it that any aspect of such Assignor’s present or contemplated business operations
infringes or will infringe any trademark, service mark or trade name of any other Person other than
as could not, either individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Each Assignor represents and warrants that it is the true and lawful owner of or
otherwise has the right to use all U.S. trademark registrations and applications and Domain Name
registrations listed in Annex I hereto and that said registrations are valid, subsisting,
have not been canceled and that such Assignor is not aware of any third-party claim that any of
said registrations is invalid or unenforceable, and is not aware that there is any reason that any
of said registrations is invalid or unenforceable, and is not aware that there is any reason that
any of said applications will not mature into registrations. Each Assignor hereby grants to the
Collateral Agent an absolute power of attorney to sign, upon the occurrence and during the
continuance of an Event of Default, any document which may be required by the United States Patent
and Trademark Office or similar registrar in order to effect an absolute assignment of all right,
title and interest in each Mark and/or Domain Name, and record the same.

          4.2. Licenses and Assignments. Except as otherwise permitted by the Secured Debt
Agreements, each Assignor hereby agrees not to divest itself of any right under any Mark or Domain
Name absent prior written approval of the Collateral Agent.

          4.3. Infringements. Each Assignor agrees, promptly upon a Senior Officer learning
thereof, to notify the Collateral Agent in writing of the name and address of, and to furnish such
pertinent information that may be available with respect to, any party who such Assignor believes
is, or may be, infringing or diluting or otherwise violating any of such Assignor’s rights in and
to any Mark or Domain Name in any manner that could reasonably be expected to have a Material
Adverse Effect, or with respect to any party claiming that such Assignor’s use of any Mark or
Domain Name material to such Assignor’s business violates in any material respect any property
right of that party. Each Assignor further agrees to prosecute

 

 

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diligently in accordance with reasonable business practices any Person infringing any Mark or
Domain Name in any manner that could reasonably be expected to have a Material Adverse Effect.

          4.4. Preservation of Marks and Domain Names. Each Assignor agrees to use its Marks
and Domain Names which are material to such Assignor’s business in interstate commerce during the
time in which this Agreement is in effect and to take all such other actions as are reasonably
necessary to preserve such Marks as trademarks or service marks under the laws of the United
States (other than any such Marks which are no longer used or useful in its business or
operations).

          4.5. Maintenance of Registration. Each Assignor shall, at its own expense, diligently
process all documents reasonably required to maintain all Mark and/or Domain Name registrations,
including but not limited to affidavits of use and applications for renewals of registration in
the United States Patent and Trademark Office for all of its material registered Marks, and shall
pay all fees and disbursements in connection therewith and shall not abandon any such filing of
affidavit of use or any such application of renewal prior to the exhaustion of all administrative
and judicial remedies without prior written consent of the Collateral Agent (other than with
respect to registrations and applications deemed by such Assignor in its reasonable business
judgment to be no longer prudent to pursue).

          4.6. Future Registered Marks and Domain Names. If any Mark registration is issued
hereafter to any Assignor as a result of any application now or hereafter pending before the
United States Patent and Trademark Office or any Domain Name is registered by Assignor, within 30
days of receipt of such certificate or similar indicia of ownership, such Assignor shall deliver
to the Collateral Agent a copy of such registration certificate or similar indicia of ownership,
and a grant of a security interest in such Mark and/or Domain Name, to the Collateral Agent and at
the expense of such Assignor, confirming the grant of a security interest in such Mark and/or
Domain Name to the Collateral Agent hereunder, the form of such security to be substantially in
the form of Annex L hereto or in such other form as may be reasonably satisfactory to the
Collateral Agent.

          4.7. Remedies. Subject to the terms of the Intercreditor Agreement, if an Event of
Default shall occur and be continuing, the Collateral Agent may, by written notice to the relevant
Assignor, take any or all of the following actions: (i) declare the entire right, title and
interest of such Assignor in and to each of the Marks and Domain Names, together with all trademark
rights and rights of protection to the same, vested in the Collateral Agent for the benefit of the
Secured Creditors, in which event such rights, title and interest shall immediately vest, in the
Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be
entitled to exercise the power of attorney referred to in Section 4.1 hereof to execute, cause to
be acknowledged and notarized and record said absolute assignment with the applicable agency or
registrar; (ii) take and use or sell the Marks or Domain Names and the goodwill of such Assignor’s
business symbolized by the Marks or Domain Names and the right to carry on the business and use the
assets of such Assignor in connection with which the Marks or Domain Names have been used; and
(iii) direct such Assignor to refrain, in which event such Assignor shall refrain, from using the
Marks or Domain Names in any manner whatsoever, directly or indirectly, and such Assignor shall
execute such further documents that the Collateral Agent may

 

 

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reasonably request to further confirm this and to transfer ownership of the Marks and Domain Names
and registrations and any pending trademark applications in the United States Patent and Trademark
Office or applicable Domain Name registrar to the Collateral Agent.

ARTICLE V

SPECIAL PROVISIONS CONCERNING

PATENTS, COPYRIGHTS AND TRADE SECRETS

          5.1. Additional Representations and Warranties. Each Assignor represents and warrants
that it is the true and lawful owner of all rights in (i) all Trade Secret Rights, (ii) the Patents
listed in Annex J hereto for such Assignor and that said Patents include all the United
States patents and applications for United States patents that such Assignor owns as of the
Restatement Effective Date and (iii) the Copyrights listed in Annex K hereto for such
Assignor and that said Copyrights include all the United States copyrights registered with the
United States Copyright Office and applications to United States copyrights that such Assignor owns
as of the Restatement Effective Date. Each Assignor further warrants that no Senior Officer of such
Assignor has knowledge of any third party claim that any aspect of such Assignor’s present or
contemplated business operations infringes or will infringe any patent of any other Person or such
Assignor has misappropriated any trade secret or proprietary information which, either individually
or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Each Assignor
hereby grants to the Collateral Agent an absolute power of attorney to sign, upon the occurrence
and during the continuance of any Event of Default, any document which may be required by the
United States Patent and Trademark Office or the United States Copyright Office in order to effect
an absolute assignment of all right, title and interest in each Patent or Copyright, and to record
the same.

          5.2. Licenses and Assignments. Except as otherwise permitted by the Secured Debt
Agreements, each Assignor hereby agrees not to divest itself of any right under any Patent or
Copyright absent prior written approval of the Collateral Agent.

          5.3. Infringements. Each Assignor agrees, promptly upon a Senior Officer of such
Assignor learning thereof, to furnish the Collateral Agent in writing with all pertinent
information available to such Assignor with respect to any infringement, contributing infringement
or active inducement to infringe or other violation of such Assignor’s rights in any Patent or
Copyright or to any claim that the practice of any Patent or use of any Copyright violates any
property right of a third party, or with respect to any misappropriation of any Trade Secret Right
or any claim that practice of any Trade Secret Right violates any property right of a third party,
in each case, in any manner which, either individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect. Each Assignor further agrees, absent direction of the
Collateral Agent to the contrary, to diligently prosecute, in accordance with its reasonable
business judgment, any Person infringing any Patent or Copyright or any Person misappropriating any
Trade Secret Right, in each case to the extent that such infringement or misappropriation, either
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

 

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          5.4. Maintenance of Patents or Copyright. At its own expense, each Assignor shall make
timely payment of all post-issuance fees required to maintain in force its rights under each Patent
or Copyright, absent prior written consent of the Collateral Agent (other than any such Patents or
Copyrights which are no longer used or are deemed by such Assignor in its reasonable business
judgment to no longer be useful in its business or operations).

          5.5. Prosecution of Patent or Copyright Applications. At its own expense, each
Assignor shall diligently prosecute all material applications for (i) United States Patents listed
in Annex J hereto and (ii) Copyrights listed on Annex K hereto, in each case for
such Assignor and shall not abandon any such application prior to exhaustion of all administrative
and judicial remedies (other than applications that are deemed by such Assignor in its reasonable
business judgment to no longer be necessary in the conduct of the Assignor’s business), absent
written consent of the Collateral Agent.

          5.6. Other Patents and Copyrights. Within 30 days of the acquisition or issuance of a
United States Patent, registration of a Copyright, or acquisition of a registered Copyright, or of
filing of an application for a United States Patent or Copyright, the relevant Assignor shall
deliver to the Collateral Agent a copy of said Copyright or Patent, or certificate or registration
of, or application therefor, as the case may be, with a grant of a security interest as to such
Patent or Copyright, as the case may be, to the Collateral Agent and at the expense of such
Assignor, confirming the grant of a security interest, the form of such grant of a security
interest to be substantially in the form of Annex M or Annex N hereto, as
appropriate, or in such other form as may be reasonably satisfactory to the Collateral Agent.

          5.7. Remedies. If an Event of Default shall occur and be continuing, the Collateral
Agent may, subject to the provisions of the Intercreditor Agreement, by written notice to the
relevant Assignor, take any or all of the following actions: (i) declare the entire right, title,
and interest of such Assignor in each of the Patents and Copyrights vested in the Collateral Agent
for the benefit of the Secured Creditors, in which event such right, title, and interest shall
immediately vest in the Collateral Agent for the benefit of the Secured Creditors, in which case
the Collateral Agent shall be entitled to exercise the power of attorney referred to in Section
5.1 hereof to execute, cause to be acknowledged and notarized and to record said absolute
assignment with the applicable agency; (ii) take and practice or sell the Patents and Copyrights;
and (iii) direct such Assignor to refrain, in which event such Assignor shall refrain, from
practicing the Patents and using the Copyrights directly or indirectly, and such Assignor shall
execute such further documents as the Collateral Agent may reasonably request further to confirm
this and to transfer ownership of the Patents and Copyrights to the Collateral Agent for the
benefit of the Secured Creditors.

ARTICLE VI

PROVISIONS CONCERNING ALL COLLATERAL

          6.1. Protection of Collateral Agent’s Security. Except as otherwise permitted by the
Secured Debt Agreements and the Intercreditor Agreement, each Assignor will do nothing to impair
the rights of the Collateral Agent in the Collateral. Each Assignor will at all times maintain
insurance, at such Assignor’s own expense to the extent and in the manner provided in

 

 

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the Secured Debt Agreements. Except to the extent otherwise permitted to be retained by such
Assignor or applied by such Assignor pursuant to the terms of the Secured Debt Agreements, the
Collateral Agent shall, subject to the provisions of the Intercreditor Agreement, at the time any
proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in
accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in
connection with the Collateral acquired by it and the liability of such Assignor to pay the
Obligations shall in no way be affected or diminished by reason of the fact that such Collateral
may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor
(except to the extent resulting from the Collateral Agent’s gross negligence or willful
misconduct).

          6.2. Warehouse Receipts Non-Negotiable. If a Specified Default or an Event of Default
shall occur, each Assignor agrees that if any warehouse receipt or receipt in the nature of a
warehouse receipt is issued with respect to any of its Inventory, such Assignor shall request that
such warehouse receipt or receipt in the nature thereof shall not be “negotiable” (as such term is
used in Section 7-104 of the Uniform Commercial Code as in effect in any relevant jurisdiction or
under other relevant law).

          6.3. Additional Information. Each Assignor will, at its own expense, from time to time
upon the reasonable request of the Collateral Agent, promptly (and in any event within 10 days
after its receipt of the respective request) furnish to the Collateral Agent such information with
respect to the Collateral (including the identity of the Collateral or such components thereof as
may have been requested by the Collateral Agent, the value and location of such Collateral, etc.)
as may be requested by the Collateral Agent. Without limiting the forgoing, each Assignor agrees
that it shall promptly (and in any event within 10 days after its receipt of the respective
request) furnish to the Collateral Agent such updated Annexes hereto as may from time to time be
reasonably requested by the Collateral Agent.

          6.4. Further Actions. Each Assignor will, at its own expense and upon the reasonable
request of the Collateral Agent, make, execute, endorse, acknowledge, file and/or deliver to the
Collateral Agent from time to time such lists, descriptions and designations of its Collateral,
warehouse receipts, receipts in the nature of warehouse receipts, bills of lading, documents of
title, vouchers, invoices, schedules, confirmatory assignments, conveyances, financing statements,
transfer endorsements, certificates, reports and other assurances or instruments and take such
further steps relating to the Collateral and other property or rights covered by the security
interest hereby granted, which the Collateral Agent deems reasonably appropriate or advisable to
perfect, preserve or protect its security interest in the Collateral.

          6.5. Financing Statements. Subject to the terms of the Intercreditor Agreement, each
Assignor agrees to execute and deliver to the Collateral Agent such financing statements, in form
reasonably acceptable to the Collateral Agent, as the Collateral Agent may from time to time
reasonably request or as are reasonably necessary or desirable in the opinion of the Collateral
Agent to establish and maintain a valid, enforceable, perfected security interest in the
Collateral as provided herein and the other rights and security contemplated hereby. Each Assignor
will pay any applicable filing fees, recordation taxes and related expenses relating to its
Collateral. Each Assignor hereby authorizes the Collateral Agent to file any such financing

 

 

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statements without the signature of such Assignor where permitted by law (and such
authorization includes describing the Collateral as “all assets” of such Assignor).

ARTICLE VII

REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT

          7.1. Remedies; Obtaining the Collateral Upon Default. Each Assignor agrees that, if
any Event of Default shall have occurred and be continuing, then and in every such case, the
Collateral Agent, in addition to any rights now or hereafter existing under applicable law and
under the other provisions of this Agreement, shall have all rights as a secured creditor under
any UCC, and such additional rights and remedies to which a secured creditor is entitled under the
laws in effect in all relevant jurisdictions and, subject to the provisions of the Intercreditor
Agreement, may:

     (i) personally, or by agents or attorneys, immediately take possession of the
Collateral or any part thereof, from such Assignor or any other Person who then has
possession of any part thereof with or without notice or process of law, and for that
purpose may enter upon such Assignor’s premises where any of the Collateral is located and
remove the same and use in connection with such removal any and all services, supplies, aids
and other facilities of such Assignor;

     (ii) instruct the obligor or obligors on any agreement, instrument or other obligation
(including, without limitation, the Included Accounts and the Included Contracts)
constituting the Collateral to make any payment required by the terms of such agreement,
instrument or other obligation directly to the Collateral Agent and may exercise any and
all remedies of such Assignor in respect of such Collateral;

     (iii) instruct all banks which have entered into a control agreement with the
Collateral Agent to transfer all monies, securities and instruments held by such depositary
bank to the Cash Collateral Account;

     (iv) sell, assign or otherwise liquidate any or all of the Collateral or any part
thereof in accordance with Section 7.2 hereof, or direct such Assignor to sell, assign or
otherwise liquidate any or all of the Collateral or any part thereof, and, in each case,
take possession of the proceeds of any such sale or liquidation;

     (v) take possession of the Collateral or any part thereof, by directing such Assignor
in writing to deliver the same to the Collateral Agent at any reasonable place or places
designated by the Collateral Agent, in which event such Assignor shall at its own expense:

     (x) forthwith cause the same to be moved to the place or places so
designated by the Collateral Agent and there delivered to the Collateral Agent;

 

 

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     (y) store and keep any Collateral so delivered to the Collateral Agent at such
place or places pending further action by the Collateral Agent as provided in
Section 7.2 hereof; and

     (z) while the Collateral shall be so stored and kept, provide such security
and maintenance services as shall be reasonably necessary to protect the same and
to preserve and maintain it in good condition;

     (vi) license or sublicense, whether on an exclusive or nonexclusive basis, any Marks,
Domain Names, Patents or Copyrights included in the Collateral for such term and on such
conditions and in such manner as the Collateral Agent shall in its sole judgment determine;

     (vii) apply any monies constituting Collateral or proceeds thereof in accordance
with the provisions of Section 7.4; and

     (viii) take any other action as specified in clauses (1) through (5), inclusive,
of Section 9-607 of the UCC;

it being understood that each Assignor’s obligation so to deliver the Collateral is of the essence
of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction,
the Collateral Agent shall be entitled to a decree requiring specific performance by such Assignor
of said obligation. By accepting the benefits of this Agreement and each other Security Document,
the Secured Creditors expressly acknowledge and agree that this Agreement and each other Security
Document may be enforced only by the action of the Collateral Agent acting upon the instructions of
the Required Secured Creditors and that no other Secured Creditor shall have any right individually
to seek to enforce or to enforce this Agreement or to realize upon the security to be granted
hereby, it being understood and agreed that such rights and remedies may be exercised by the
Collateral Agent for the benefit of the Secured Creditors upon the terms of this Agreement and the
other Security Documents and subject to the terms of the Intercreditor Agreement.

          7.2. Remedies; Disposition of the Collateral. If any Event of Default shall have
occurred and be continuing, then any Collateral repossessed by the Collateral Agent under or
pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by the
Collateral Agent, may, subject to the provisions of the Intercreditor Agreement, be sold,
assigned, leased or otherwise disposed of under one or more contracts or as an entirety, and
without the necessity of gathering at the place of sale the property to be sold, and in general in
such manner, at such time or times, at such place or places and on such terms as the Collateral
Agent may, in compliance with any mandatory requirements of applicable law, determine to be
commercially reasonable. Any of such Collateral may be sold, leased or otherwise disposed of, in
the condition in which the same existed when taken by the Collateral Agent or after any overhaul
or repair at the expense of the relevant Assignor which the Collateral Agent shall determine to be
commercially reasonable. Any such sale, lease or other disposition may be effected by means of a
public disposition or private disposition, effected in accordance with the applicable requirements
(in each case if and to the extent applicable) of Sections 9-610 through 9-613 of the UCC and/or
such other mandatory requirements of applicable law as may apply to

 

 

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the respective disposition. The Collateral Agent may, without notice or publication, adjourn any
public or private disposition or cause the same to be adjourned from time to time by announcement
at the time and place fixed for the disposition, and such disposition may be made at any time or
place to which the disposition may be so adjourned. To the extent permitted by any such
requirement of law, the Collateral Agent may bid for and become the purchaser (and may pay all or
any portion of the purchase price by crediting Obligations against the purchase price) of the
Collateral or any item thereof, offered for disposition in accordance with this Section 7.2
without accountability to the relevant Assignor. If, under applicable law, the Collateral Agent
shall be permitted to make disposition of the Collateral within a period of time which does not
permit the giving of notice to the relevant Assignor as hereinabove specified, the Collateral
Agent need give such Assignor only such notice of disposition as shall be required by such
applicable law. Each Assignor agrees to do or cause to be done all such other acts and things as
may be reasonably necessary to make such disposition or dispositions of all or any portion of the
Collateral valid and binding and in compliance with any and all applicable laws, regulations,
orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental
instrumentalities, domestic or foreign, having jurisdiction over any such sale or sales, all at
such Assignor’s expense.

          7.3. Waiver of Claims. Except as otherwise provided in this Agreement, EACH ASSIGNOR
HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN
CONNECTION WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE COLLATERAL AGENT’S DISPOSITION OF
ANY OF THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY
PREJUDGMENT REMEDY OR REMEDIES, and each Assignor hereby further waives, to the extent permitted
by law:

     (i) all damages occasioned by such taking of possession or any such disposition except
any damages which are the direct result of the Collateral Agent’s gross negligence or
willful misconduct (as determined by a court of competent jurisdiction in a final and
non-appealable decision);

     (ii) all other requirements as to the time, place and terms of sale or other
requirements with respect to the enforcement of the Collateral Agent’s rights hereunder; and

     (iii) all rights of redemption, appraisement, valuation, stay, extension or moratorium
now or hereafter in force under any applicable law in order to prevent or delay the
enforcement of this Agreement or the absolute sale of the Collateral or any portion
thereof, and each Assignor, for itself and all who may claim under it, insofar as it or
they now or hereafter lawfully may, hereby waives the benefit of all such laws.

Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral
shall operate to divest all right, title, interest, claim and demand, either at law or in equity,
of the relevant Assignor therein and thereto, and shall be a perpetual bar both at law and in
equity against such Assignor and against any and all Persons claiming or attempting to claim the
Collateral so sold, optioned or realized upon, or any part thereof, from, through and under such
Assignor.

 

 

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          7.4. Application of Proceeds. (a) (I) Subject to the terms of the Intercreditor
Agreement, all moneys collected by the Collateral Agent (or, to the extent the U.S. Pledge
Agreement or any other Security Document requires proceeds of collateral thereunder, which
constitutes TL Priority Collateral, to be applied in accordance with the provisions of this
Agreement, the Pledgee under the U.S. Pledge Agreement or the collateral agent or mortgagee under
such other Security Document) upon any sale or other disposition of the TL Priority Collateral,
together with all other moneys received by the Collateral Agent hereunder (or, to the extent the
U.S. Pledge Agreement or any other Security Document requires proceeds of collateral thereunder,
which constitutes TL Priority Collateral, to be applied in accordance with the provisions of this
Agreement, the Pledgee under the U.S. Pledge Agreement or the collateral agent or mortgagee under
such other Security Document) with respect thereto, shall be applied as follows:

     (i) first, to the payment of all amounts owing the Collateral Agent of
the type described in clauses (iii), (iv) and (v) of the definition of “Obligations”;

     (ii) second, to the extent proceeds remain after the application pursuant to
preceding clause (i), to the payment of all amounts owing to any Agent of the type
described in clause (vi) of the definition of “Obligations”;

     (iii) third, to the extent proceeds remain after the applications pursuant to
preceding clauses (i) and (ii), to the payment in full of all amounts owing to any Issuing
Lender and/or Bank Guaranty Issuer as described in Section 2C.03 of the Credit Agreement;

     (iv) fourth, but subject to the provisions of the following clauses (g) and
(h), to the extent proceeds remain after the application pursuant to preceding clauses (i)
through (iii), inclusive, an amount equal to the outstanding Primary Obligations shall be
paid to the Secured Creditors as provided in Section 7.4(e) hereof, with (x) each Secured
Creditor receiving an amount equal to its outstanding Primary Obligations or, if the
proceeds are insufficient to pay in full all such Primary Obligations, its Pro Rata
Share of the amount remaining to be distributed, (y) the amount received by any Lender
Creditor in respect of Primary Obligations consisting of Credit Document Obligations
pursuant to this clause (iv) to be applied (a) first, in satisfaction of the Primary
Obligations owing to such Lender Creditor by the U.S. Borrower (other than Primary
Obligations owing by the U.S. Borrower pursuant to its Credit Agreement Party Guaranty) and
by the other U.S. Credit Parties (other than Primary Obligations owing by them pursuant to
the Credit Agreement Party Guaranty or the U.S. Subsidiaries Guaranty, as the case may be,
which represent a guarantee of the Primary Obligations of the Bermuda Borrower consisting of
Credit Document Obligations) and (b) second, to the extent proceeds remain after the
application pursuant to preceding subclause (a), in satisfaction of all other Primary
Obligations owing to such Lender Creditor by the U.S. Borrower and the U.S. Credit Parties
and (z) the amount received by any Hedging Creditor in respect of Primary Obligations
consisting of Hedging Obligations pursuant to this clause (iv) to be applied (a)
first, in satisfaction of the Primary Obligations owing to such Hedging Creditor by
the U.S. Borrower (other than Primary Obligations owing by the U.S. Borrower pursuant to its
Credit Agreement Party Guaranty) and other U.S. Credit Parties (other than Primary

 

 

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Obligations owing by them pursuant to the Credit Agreement Party Guaranty or the U.S.
Subsidiaries Guaranty, as the case may be, which represent a guarantee of the Primary
Obligations of Foreign Subsidiaries of the U.S. Borrower consisting of Hedging Obligations)
and (b) second, to the extent proceeds remain after the application pursuant to
preceding subclause (a), in satisfaction of all other Primary Obligations owing to such
Hedging Creditor by the U.S. Borrower and the U.S. Credit Parties;

     (v) fifth, but subject to the provisions of the following clauses (g) and (h),
to the extent proceeds remain after the application pursuant to preceding clauses (i)
through (iv), inclusive, an amount equal to the outstanding Secondary Obligations shall be
paid to the Secured Creditors as provided in Section 7.4(e) hereof, with each Secured
Creditor receiving an amount equal to its outstanding Secondary Obligations or, if the
proceeds are insufficient to pay in full all such Secondary Obligations, its Pro
Rata Share of the amount remaining to be distributed;

     (vi) sixth, only with respect to Collateral (as such term is defined in the
U.S. Pledge Agreement) of Intermediate Holdco and not with respect to any other Collateral,
to the extent proceeds remain after the applications pursuant to preceding clauses (i)
through (v), inclusive, an amount equal to the outstanding Intermediate Holdco Credit
Document Obligations (including, without limitation, all interest that accrues after the
commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency, reorganization or similar proceeding of Holdings or any of its Subsidiaries at
the rate provided for in the respective documentation, whether or not a claim for
post-petition interest is allowed in any such case, proceeding or other action) shall be
paid to the Intermediate Holdco Collateral Agent as provided in Section 7.4(e) hereof (for
the benefit of the Intermediate Holdco Collateral Agent and the other Intermediate Holdco
Creditors), with each such Intermediate Holdco Creditor to receive an amount equal to its
outstanding Intermediate Holdco Credit Document Obligations or, if the proceeds are
insufficient to pay in full all such Intermediate Holdco Credit Document Obligations, the
portion of the amount remaining to be distributed to which such Second Lien Creditor is
entitled pursuant to the terms of the Intermediate Holdco Credit Agreement;

     (vii) seventh, but subject to the provisions of the following clause (g), to
the extent proceeds remain after the application pursuant to preceding clauses (i) through
(vi), inclusive, if the ABL Credit Document Obligations Termination Date has not theretofore
occurred, amounts equal to the ABL Credit Document Obligations shall be paid to the ABL
Collateral Agent for application to the ABL Credit Document Obligations in accordance with
sub-clauses fourth and fifth of Section 5.1(a) of the Intercreditor
Agreement; and

     (viii) eighth, to the extent proceeds remain after the application pursuant to
preceding clauses (i) through (vii), inclusive, and following the termination of this
Agreement pursuant to Section 10.8(a) hereof, to the relevant Assignor or to whomever may
be lawfully entitled to receive such surplus.

          (II) Subject to the terms of the Intercreditor Agreement, all moneys collected by the
Collateral Agent (or, to the extent the U.S. Pledge Agreement or any other Security

 

 

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Document requires proceeds of collateral thereunder, which constitutes ABL Priority Collateral, to
be applied in accordance with the provisions of this Agreement, the Pledgee under the U.S. Pledge
Agreement or the collateral agent or mortgagee under such other Security Document) upon any sale
or other disposition of the ABL Priority Collateral, together with all other moneys received by
the Collateral Agent hereunder (or, to the extent the U.S. Pledge Agreement or any other Security
Document requires proceeds of collateral thereunder, which constitutes ABL Priority Collateral, to
be applied in accordance with the provisions of this Agreement, the Pledgee under the U.S. Pledge
Agreement or the collateral agent or mortgagee under such other Security Document) with respect
thereto, shall be applied as follows:

     (i) first, in accordance with with sub-clauses first and second
of Section 5.2(a) of the Intercreditor Agreement, to the ABL Collateral Agent for
application to ABL Credit Document Obligations until same have been repaid in full;

     (ii) second, to the extent proceeds remain after the application pursuant to
preceding clause (i), as otherwise provided in Section 7.4(a)(I) (but without giving effect
clause (vii) thereof).

          (b) For purposes of this Agreement: (x) “Pro Rata Share” shall mean, when calculating
a Secured Creditor’s portion of any distribution or amount, that amount (expressed as a
percentage) equal to a fraction the numerator of which is the then unpaid amount of such Secured
Creditor’s Primary Obligations or Secondary Obligations, as the case may be, and the denominator
of which is the then outstanding amount of all Primary Obligations or Secondary Obligations, as
the case may be; (y) “Primary Obligations” shall mean (i) in the case of the Credit
Document Obligations, all principal of, premium, fees and interest on, all Loans, all Unpaid
Drawings, the Stated Amount of all outstanding Letters of Credit, all Unreimbursed Payments, the
Face Amount of all outstanding Bank Guaranties and all Fees and (ii) in the case of the Hedging
Obligations, all amounts due under each Interest Rate Protection Agreement and each Other Hedging
Agreement with a Hedging Creditor (other than indemnities, fees (including, without limitation,
attorneys’ fees) and similar obligations and liabilities); and (z) “Secondary Obligations”
shall mean all Obligations other than Primary Obligations.

          (c) When payments to Secured Creditors are based upon their respective Pro Rata
Shares, the amounts received by such Secured Creditors hereunder shall be applied (for purposes of
making determinations under this Section 7.4 only) (i) first, to their Primary Obligations
and (ii) second, to their Secondary Obligations. If any payment to any Secured Creditor of
its Pro Rata Share of any distribution would result in overpayment to such Secured
Creditor, such excess amount shall instead be distributed in respect of the unpaid Primary
Obligations or Secondary Obligations, as the case may be, of the other Secured Creditors, with
each Secured Creditor whose Primary Obligations or Secondary Obligations, as the case may be, have
not been paid in full to receive an amount equal to such excess amount multiplied by a fraction
the numerator of which is the unpaid Primary Obligations or Secondary Obligations, as the case may
be, of such Secured Creditor and the denominator of which is the unpaid Primary Obligations or
Secondary Obligations, as the case may be, of all Secured Creditors entitled to such distribution.

          (d) Each of the Secured Creditors, by their acceptance of the benefits hereof and of the
other Security Documents, agrees and acknowledges that if the Lender Creditors

 

 

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receive a distribution on account of undrawn amounts with respect to Letters of Credit or Bank
Guaranties issued under the Credit Agreement (which shall only occur after all Unpaid Drawings and
Unreimbursed Payments have been paid in full), such amounts shall be paid to the Administrative
Agent under the Credit Agreement and held by it, for the equal and ratable benefit of the Lender
Creditors, as cash security for the repayment of Obligations owing to the Lender Creditors as such.
If any amounts are held as cash security pursuant to the immediately preceding sentence, then upon
the termination of all outstanding Letters of Credit and Bank Guaranties under the Credit
Agreement, and after the application of all such cash security to the repayment of all Obligations
owing to the Lender Creditors after giving effect to the termination of all such Letters of Credit
and Bank Guaranties, if there remains any excess cash, such excess cash shall be returned by the
Administrative Agent to the Collateral Agent for distribution in accordance with Section 7.4(a)
hereof.

          (e) Subject to the terms of the Intercreditor Agreement, all payments required to be made
hereunder shall be made (w) if to the Lender Creditors, to the Administrative Agent for the account
of the Lender Creditors, (x) if to any Other Creditor, to the trustee, paying agent or other
similar representative (each, a “Representative”) for such Other Creditor or, in the
absence of such a Representative, directly to the relevant Other Creditor, (y) if to the ABL
Secured Parties, to the ABL Collateral Agent for the account of the ABL Secured Parties and (z) if
to the Intermediate Holdco Creditors, to the Intermediate Holdco Collateral Agent for the account
of the Intermediate Holdco Creditors.

          (f) For purposes of applying payments received in accordance with this Section 7.4, the
Collateral Agent shall be entitled to rely upon (i) the Administrative Agent and (ii) the
Representative or, in the absence of such a Representative, upon the Hedging Creditors for a
determination (which the Administrative Agent, each Representative and the Hedging Creditors agree
(or shall agree) to provide upon request of the Collateral Agent) of the outstanding Primary
Obligations and Secondary Obligations (and Dollar Equivalents thereof) owed to the Lender Creditors
or the Hedging Creditors, as the case may be. Unless it has received written notice from a Lender
Creditor or an Other Creditor to the contrary, the Administrative Agent and each Representative, in
furnishing information pursuant to the preceding sentence, and the Collateral Agent, in acting
hereunder, shall be entitled to assume that no Secondary Obligations are outstanding. Unless it has
written notice from a Hedging Creditor to the contrary, the Collateral Agent, in acting hereunder,
shall be entitled to assume that no Interest Rate Protection Agreements or Other Hedging Agreements
are in existence.

          (g) Notwithstanding anything to the contrary contained above, to the extent monies or proceeds
to be applied pursuant to this Section 7.4 consist of proceeds received from a sale or other
disposition of Excess Exempted Foreign Entity Voting Stock, such proceeds will be applied as
otherwise required above in this Section 7.4, but for this purpose treating as outstanding only
those obligations secured by the Excess Exempted Foreign Entity Voting Stock in accordance with the
provisions of clause (A) to the proviso appearing at the end of Section 3.1 of the U.S. Pledge
Agreement. In determining whether any Excess Exempted Foreign Entity Voting Stock has been sold or
otherwise disposed of, the Pledgee shall treat any sale or disposition of Voting Stock of any
Exempted Foreign Entity as first being a sale of Voting Stock which is not Excess Exempted Foreign
Entity Voting Stock until such time as the stock sold

 

 

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represents 65% of the total combined voting power of all classes of Voting Stock of the respective
Exempted Foreign Entity and, after such threshold has been met, any further sales of Voting Stock
of the respective Exempted Foreign Entity shall be treated as sales of Excess Exempted Foreign
Entity Voting Stock.

          (h) Notwithstanding anything to the contrary contained above, to the extent monies or proceeds
to be applied pursuant to this Section 7.4(a)(I) consist of proceeds received under any Foreign
Security Document (other than a Local Law Pledge Agreement), such proceeds will be applied as
otherwise required above for TL Priority Collateral in this Section 7.4(a)(I), but for this purpose
(i) treating the outstanding Primary Obligations and Secondary Obligations as only those
obligations secured by the respective Foreign Security Document and (ii) without giving effect to
clause (y) or (z) of Section 7.4(a)(I)(iv), and without giving effect to clauses (vi) and (vii) of
Section 7.4(a)(I) above.

          (i) Each of the Secured Creditors, by its acceptance of the benefits hereof and of the other
Security Documents, hereby agrees and acknowledges that if any portion of the Credit Document
Obligations or Hedging Obligations that are purported to be secured pursuant to a Foreign Security
Document and owing to a given Secured Creditor are determined not to be secured pursuant to such
Foreign Security Document for any reason, then for purposes of Section 7.4(a)(I), the respective
Obligations of such Secured Creditor (that are purposed to be secured) shall nevertheless be
construed to be effectively secured pursuant to such Foreign Security Document and such Secured
Creditor shall nevertheless be entitled to its Pro Rata Share of any amounts collected by
the Collateral Agent pursuant to the Foreign Security Documents, which shall be applied in
accordance with the provisions of Section 7.4(a)(I) (based upon such Secured Creditor’s actual
then outstanding Credit Document Obligations or Hedging Obligations (that are purported to be
secured) (as determined in accordance with immediately preceding clause (h)), as the case may be).

          (j) It is understood that the Assignors shall remain jointly and severally liable to the
extent of any deficiency between the amount of the proceeds of the Collateral and the aggregate
amount of the Obligations.

          (k) It is understood and agreed by all parties hereto that the Collateral Agent shall have no
liability for any determinations made by it in this Section 7.4 (including, without limitation, as
to whether given Collateral constitutes TL Priority Collateral or ABL Priority Collateral), in
each case except to the extent resulting from the gross negligence or willful misconduct of the
Collateral Agent (as determined by a court of competent jurisdiction in a final and non-appealable
decision). The parties also agree that the Collateral Agent may (but shall not be required to), at
any time and in its sole discretion, and with no liability resulting therefrom, petition a court
of competent jurisdiction regarding any application of Collateral in accordance with the
requirements hereof and of the Intercreditor Agreement, and the Collateral Agent shall be entitled
to wait for, and may conclusively rely on, any such determination

          7.5. Remedies Cumulative. Subject to the terms of (and to the extent not inconsistent
with) the Intercreditor Agreement, each and every right, power and remedy hereby specifically
given to the Collateral Agent shall be in addition to every other right, power and remedy
specifically given to the Collateral Agent under this Agreement, the other Secured Debt

 

 

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Agreements or now or hereafter existing at law, in equity or by statute and each and every right,
power and remedy whether specifically herein given or otherwise existing may be exercised from time
to time or simultaneously and as often and in such order as may be deemed expedient by the
Collateral Agent. All such rights, powers and remedies shall be cumulative and the exercise or the
beginning of the exercise of one shall not be deemed a waiver of the right to exercise any other or
others. No delay or omission of the Collateral Agent in the exercise of any such right, power or
remedy and no renewal or extension of any of the Obligations shall impair any such right, power or
remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence
thereof. No notice to or demand on any Assignor in any case shall entitle it to any other or
further notice or demand in similar or other circumstances or constitute a waiver of any of the
rights of the Collateral Agent to any other or further action in any circumstances without notice
or demand. In the event that the Collateral Agent shall bring any suit to enforce any of its rights
hereunder and shall be entitled to judgment, then in such suit the Collateral Agent may recover
reasonable expenses, including reasonable attorneys’ fees, and the amounts thereof shall be
included in such judgment.

          7.6. Discontinuance of Proceedings. In case the Collateral Agent shall have
instituted any proceeding to enforce any right, power or remedy under this Agreement by
foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or
abandoned for any reason or shall have been determined adversely to the Collateral Agent, then and
in every such case the relevant Assignor, the Collateral Agent and each holder of any of the
Obligations shall be restored to their former positions and rights hereunder with respect to the
Collateral subject to the security interest created under this Agreement, and all rights, remedies
and powers of the Collateral Agent shall continue as if no such proceeding had been instituted.

ARTICLE VIII

INDEMNITY

          8.1. Indemnity. (a) Each Assignor jointly and severally agrees to indemnify,
reimburse and hold the Collateral Agent, each other Secured Creditor and their respective
successors, assigns, employees, affiliates and agents (hereinafter in this Section 8.1 referred to
individually as “Indemnitee,” and collectively as “Indemnitees”) harmless from any
and all liabilities, obligations, damages, injuries, penalties, claims, demands, actions, suits,
judgments and any and all costs, expenses or disbursements (including reasonable attorneys’ fees
and expenses) (for the purposes of this Section 8.1 the foregoing are collectively called
“expenses”) of whatsoever kind and nature imposed on, asserted against or incurred by any
of the Indemnitees in any way relating to or arising out of this Agreement, any other Lender
Secured Financing Document or any other document executed in connection herewith or therewith or
in any other way connected with the administration of the transactions contemplated hereby or
thereby or the enforcement of any of the terms of, or the preservation of any rights under any
thereof, or in any way relating to or arising out of the manufacture, ownership, ordering,
purchase, delivery, control, acceptance, lease, financing, possession, operation, condition, sale,
return or other disposition, or use of the Collateral (including, without limitation, latent or
other
defects, whether or not discoverable), the violation of the laws of any country, state or
other governmental body or unit, any tort (including, without limitation, claims arising or
imposed

 

 

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under the doctrine of strict liability, or for or on account of injury to or the death of any
Person (including any Indemnitee), or property damage), or contract claim; provided that
no Indemnitee shall be indemnified pursuant to this Section 8.1(a) for losses, damages or
liabilities to the extent caused by the gross negligence or willful misconduct of such Indemnitee
(as determined by a court of competent jurisdiction in a final and non-appealable decision). Each
Assignor agrees that upon written notice by any Indemnitee of the assertion of such a liability,
obligation, damage, injury, penalty, claim, demand, action, suit or judgment, the relevant
Assignor shall assume full responsibility for the defense thereof. Each Indemnitee agrees to use
its best efforts to promptly notify the relevant Assignor of any such assertion of which such
Indemnitee has knowledge.

          (b) Without limiting the application of Section 8.1(a) hereof, each Assignor agrees, jointly
and severally, to pay or reimburse the Collateral Agent for any and all reasonable fees, costs and
expenses of whatever kind or nature incurred in connection with the creation, preservation or
protection of the Collateral Agent’s Liens on, and security interest in, the Collateral,
including, without limitation, all fees and taxes in connection with the recording or filing of
instruments and documents in public offices, payment or discharge of any taxes or Liens upon or in
respect of the Collateral, premiums for insurance with respect to the Collateral and all other
fees, costs and expenses in connection with protecting, maintaining or preserving the Collateral
and the Collateral Agent’s interest therein, whether through judicial proceedings or otherwise, or
in defending or prosecuting any actions, suits or proceedings arising out of or relating to the
Collateral.

          (c) Without limiting the application of Section 8.1(a) or (b) hereof, each Assignor agrees,
jointly and severally, to pay, indemnify and hold each Indemnitee harmless from and against any
loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur in consequence
of or growing out of any material misrepresentation by any Assignor in this Agreement, any other
Lender Secured Financing Document or in any writing contemplated by or made or delivered pursuant
to or in connection with this Agreement or any other Lender Secured Financing Document.

          (d) If and to the extent that the obligations of any Assignor under this Section 8.1 are
unenforceable for any reason, such Assignor hereby agrees to make the maximum contribution to the
payment and satisfaction of such obligations which is permissible under applicable law.

          8.2. Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any
Indemnitee as to which such Indemnitee has the right to reimbursement shall constitute Obligations
secured by the Collateral. The indemnity obligations of each Assignor contained in this Article
VIII shall continue in full force and effect notwithstanding the full payment of all of the other
Obligations and notwithstanding the full payment of all the Notes issued, and Loans made, under the
Credit Agreement, the termination of all Letters of Credit (and the full payment of all Unpaid
Drawings) and Bank Guaranties (and the full payment of all Unreimbursed Payments) issued under the
Credit Agreement, the termination of all Interest Rate Protection Agreements and Other Hedging
Agreements entered into with the Hedging Creditors and the payment of all other Obligations and
notwithstanding the discharge thereof and the occurrence of the Termination Date.

 

 

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ARTICLE IX

DEFINITIONS

          The following terms shall have the meanings herein specified. Such definitions shall be
equally applicable to the singular and plural forms of the terms defined.

          “ABL Collateral Agent” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Credit Document Obligations” shall mean the “Credit Document Obligations” as
defined in the ABL Security Agreement, as amended, modified or supplemented from time to time in
accordance with the terms thereof and the Credit Agreement..

          “ABL Credit Document Obligations Termination Date” shall mean that date upon which
the Discharge of ABL Obligations shall have occurred.

          “ABL Credit Documents” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Priority Collateral” shall have the meaning assigned that term in the
Intercreditor Agreement.

          “ABL Required Lenders” shall mean the “Required Lenders” as defined in the ABL Credit
Agreement.

          “ABL Secured Parties” shall have the meaning assigned that term in the Intercreditor
Agreement.

          “ABL Security Agreement” shall mean the Security Agreement as defined in the ABL
Credit Agreement, as in effect on the Restatement Effective Date, as the same may be amended,
modified, extended, renewed, replaced, restated, supplemented or refinanced from time to time, in
accordance with the terms thereof, the Credit Agreement and the Intercreditor Agreement.

          “Account” shall mean any “account” as such term is defined in the Uniform Commercial
Code as in effect on the Restatement Effective Date in the State of New York, and in any event
shall include but shall not be limited to, all rights to payment of any monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned or otherwise disposed of, (ii) for services rendered or to be rendered, (iii)
for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be
incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a
charter or other contract, (vii) arising out of the use of a credit or charge card or information
contained on or for use with the card, or (viii) as winnings in a lottery or other game of chance
operated or sponsored by a State, governmental unit of a State, or person licensed or authorized to
operate the game by a State or governmental unit of a State. Without limiting the foregoing, the
term “account” shall include all Health-Care-Insurance Receivables.

 

 

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          “Administrative Agent” shall have the meaning provided in the recitals of this
Agreement.

          “Agreement” shall mean this U.S. Security Agreement, as the same may be amended,
modified, restated and/or supplemented from time to time in accordance with its terms.

          “As-Extracted Collateral” shall mean “as-extracted collateral” as such term is
defined in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State
of New York.

          “Assignor” shall have the meaning provided in the first paragraph of this Agreement.

          “Borrowers” shall have the meaning provided in the recitals of this
Agreement.

          “Bermuda Borrower” shall have the meaning provided in the recitals hereto.

          “Cash Collateral Account” shall mean a non-interest bearing cash collateral account
maintained with, and in the sole dominion and control of, the Collateral Agent for the benefit of
the Secured Creditors.

          “Chattel Paper” shall mean “chattel paper” as such term is defined in the Uniform
Commercial Code as in effect on the Restatement Effective Date in the State of New York. Without
limiting the foregoing, the term “Chattel Paper” shall in any event include all Tangible Chattel
Paper and all Electronic Chattel Paper.

          “Class” shall have the meaning provided in Section 10.2 of this Agreement.

          “Collateral” shall have the meaning provided in Section 1.1(a) of this
Agreement.

          “Collateral Agent” shall have the meaning provided in the first paragraph of this
Agreement.

          “Commercial Tort Claims” shall mean “commercial tort claims” as such term is defined
in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State of New
York.

          “Contract Rights” shall mean all rights of any Assignor under each Contract,
including, without limitation, (i) any and all rights to receive and demand payments under any or
all Contracts, (ii) any and all rights to receive and compel performance under any or all
Contracts and (iii) any and all other rights, interests and claims now existing or in the future
arising in connection with any or all Contracts.

          “Contracts” shall mean all contracts between any Assignor and one or more additional
parties (including, without limitation, any Interest Rate Protection Agreements, Other Hedging
Agreements, licensing agreements and any partnership agreements, joint venture agreements and
limited liability company agreements).

 

 

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          “Copyrights” shall mean any United States or foreign copyright now or hereafter owned
by any Assignor, including any registrations of any copyrights, in the United States Copyright
Office or any foreign equivalent office, as well as any application for a copyright registration
now or hereafter made with the United States Copyright Office or any foreign equivalent office by
any Assignor.

          “Credit Agreement” shall have the meaning provided in the recitals of this Agreement.

          “Credit Document Obligations” shall have the meaning provided in the definition of
“Obligations” in this Article IX.

          “Credit Documents” shall have the meaning provided in the Credit Agreement and shall
include any documentation executed and delivered in connection with any replacement or refinancing
Credit Agreement.

          “Credit Document Obligations Termination Date” shall mean that date upon which all
Credit Document Obligations (other than indemnities for which no claim has been made) have been
paid in full and all Commitments, Letters of Credit and Bank Guaranties under the Credit Agreement
have been terminated.

          “Deposit Accounts” shall mean all “deposit accounts” as such term is defined in the
Uniform Commercial Code as in effect on the Restatement Effective Date in the State of New York.

          “Deposit Bank” shall have the meaning provided in the recitals hereto.

          “Discharge of ABL Obligations” shall have the meaning assigned that term in the
Intercreditor Agreement.

          “Documentation Agent” shall have the meaning provided in the recitals
hereto.

          “Documents” shall mean “documents” as such term is defined in the Uniform Commercial
Code as in effect on the Restatement Effective Date in the State of New York.

          “Domain Names” shall mean all Internet domain names and associated URL addresses in
or to which any Assignor now or hereafter has any right, title or interest.

          “Electronic Chattel Paper” shall mean “electronic chattel paper” as such term is
defined in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State
of New York.

          “Equipment” shall mean any “equipment” as such term is defined in the Uniform
Commercial Code as in effect on the Restatement Effective Date in the State of New York, and in
any event, shall include, but shall not be limited to, all machinery, equipment, furnishings,
fixtures and vehicles now or hereafter owned by any Assignor and any and all additions,
substitutions and replacements of any of the foregoing and all accessions thereto, wherever

 

 

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located, together with all attachments, components, parts, equipment and accessories installed
thereon or affixed thereto.

          “Event of Default” shall mean (i) any Event of Default under, and as defined in the
Credit Agreement, (ii) any payment default on any of the Hedging Obligations after the expiration
of any applicable grace period and (iii) following the Credit Document Obligations Termination
Date, any Event of Default under, and as defined in, the Intermediate Holdco Credit Agreement (if
same remains in effect).

          “Excess Exempted Foreign Entity Voting Stock” shall have the meaning provided in the
U.S. Pledge Agreement.

          “Exempted Foreign Entity” shall have the meaning provided in the U.S. Pledge
Agreement.

          “Excluded Collateral” shall have the meaning provided in the Credit
Agreement.

          “Excluded Proceeds” means, at any time, all cash Proceeds received by any Assignor
from any sale of Collateral where the respective Collateral is released pursuant to the provisions
of Section 10.8(b) of this Agreement and such Proceeds are applied (or required to be applied) to
pay Credit Document Obligations in accordance with the requirements of the Credit Agreement.

          “Farm Products” shall mean “farm products” as such term is defined in the Uniform
Commercial Code as in effect on the Restatement Effective Date in the State of New York.

          “General Intangibles” shall mean “general intangibles” as such term is defined in the
Uniform Commercial Code as in effect on the Restatement Effective Date in the State of New York.

          “Goods” shall mean “goods” as such term is defined in the Uniform Commercial Code as
in effect on the Restatement Effective Date in the State of New York.

          “Health-Care-Insurance Receivable” shall mean any “health-care-insurance receivable”
as such term is defined in the Uniform Commercial Code as in effect on the Restatement Effective
Date in the State of New York.

          “Hedging Creditors” shall have the meaning provided in the recitals of this
Agreement.

          “Hedging Obligations” shall have the meaning provided in the definition of
“Obligations” in this Article IX.

          “Holdings” shall have the meaning provided in the recitals hereto.

          “Included Account” shall mean any Account other than Accounts which constitute
Excluded Collateral.

 

 

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          “Included Contract” shall mean any Contract other than Contracts which Excluded
Collateral.

          “Included Contract Rights” shall mean all rights of any Assignor under each Included
Contract, including, without limitation, (i) any and all rights to receive and demand payments
under any or all Included Contracts, (ii) any and all rights to receive and compel performance
under any and all Included Contracts and (iii) any and all rights, interests and claims now
existing or in the future arising in connection with any or all Included Contracts.

          “Included Equipment” shall mean any Equipment other than Equipment which constitutes
Excluded Collateral.

          “Included Instrument” shall mean any Instrument other than Instruments which
constitute Excluded Collateral.

          “Indemnitee” shall have the meaning provided in Section 8.1(a) of this Agreement.

          “Instrument” shall mean “instruments” as such term is defined in the Uniform
Commercial Code as in effect on the Restatement Effective Date in the State of New York
(provided, however, Instruments shall not include any Instruments received in
connection with grower loans extended in accordance with Section 9.05 of the Credit Agreement to
the extent local law or the relevant grower loan documents prohibit such pledge).

          “Intermediate Holdco” shall have the meaning provided in the recitals
hereto.

          “Intermediate Holdco Collateral Agent” shall have the meaning provided in the U.S.
Pledge Agreement.

          “Intermediate Holdco Creditor” shall have the meaning provided in the U.S. Pledge
Agreement.

          “Intermediate Holdco Credit Document Obligations” shall have the meaning provided
in the U.S. Pledge Agreement.

          “Inventory” shall mean merchandise, inventory and goods, and all additions,
substitutions and replacements thereof and all accessions thereto, wherever located, together with
all goods, supplies, incidentals, packaging materials, labels, materials and any other items used
or usable in manufacturing, processing, packaging or shipping same, in all stages of production
from raw materials through work in process to finished goods, and all products and proceeds of
whatever sort and wherever located any portion thereof which may be returned, rejected, reclaimed
or repossessed by the Collateral Agent from any Assignor’s customers, and shall specifically
include all “inventory” as such term is defined in the Uniform Commercial Code as in effect on the
Restatement Effective Date in the State of New York.

          “Investment Property” shall mean “investment property” as such term is defined in the
Uniform Commercial Code as in effect on the Restatement Effective Date in the State of New York.

 

 

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          “Lead Arranger” shall have the meaning provided in the recitals hereto.

          “Lender Creditors” shall have the meaning provided in the recitals of this Agreement.

          “Lender Secured Financing Documents” shall mean and include (i) this Agreement, (ii)
the other Credit Documents and (iii) the Interest Rate Protection Agreements and Other Hedging
Agreements entered into with a Hedging Creditor.

          “Lenders” shall have the meaning provided in the recitals of this Agreement.

          “Letter-of-Credit Rights” shall mean “letter-of-credit rights” as such term is
defined in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State
of New York.

          “Location” of any Assignor, shall mean such Assignor’s “location” as determined
pursuant to Section 9-307 of the UCC.

          “Marks” shall mean all right, title and interest in and to any trademarks, service
marks and trade names now held or hereafter acquired by any Assignor, including any registration or
application for registration of any trademarks and service marks now held or hereafter acquired by
any Assignor, which are registered or filed in the United States Patent and Trademark Office or the
equivalent thereof in any state of the United States or any equivalent foreign office or agency, as
well as any unregistered trademarks and service marks used by an Assignor and any trade dress
including logos, designs, fictitious business names and other business identifiers used by any
Assignor.

          “Material Adverse Effect” shall mean a material adverse effect on the business,
property, assets, liabilities (actual or contingent), operations, condition (financial or
otherwise) or prospects of the Borrowers and their Subsidiaries taken as a whole.

          “Obligations” shall mean and include, as to any Assignor, all of the
following:

     (i) the full and prompt payment when due (whether at stated maturity, by acceleration
or otherwise) of all obligations, liabilities and indebtedness (including, without
limitation, principal, premium, interest (including, without limitation, all interest that
accrues after the commencement of any case, proceeding or other action relating to the
bankruptcy, insolvency, reorganization or similar proceeding of any Assignor at the rate
provided for in the respective documentation, whether or not a claim for post-petition
interest is allowed in any such proceeding), reimbursement obligations under Letters of
Credit and Bank Guaranties, fees, costs and indemnities) of such Assignor to the Lender
Creditors, whether now existing or hereafter incurred under, arising out of, or in
connection with, the Credit Agreement and the other Credit Documents to which such Assignor
is a party (including, without limitation, in the event such Assignor is a Guarantor, all
such obligations, liabilities and indebtedness of such Assignor under its Guaranty) and the
due performance and compliance by such Assignor with all of the terms, conditions and
agreements contained in the Credit Agreement and in such other

 

 

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Credit Documents (all such obligations, liabilities and indebtedness under this clause (i),
except to the extent consisting of obligations, liabilities or indebtedness with respect to
Interest Rate Protection Agreements or Other Hedging Agreements, being herein collectively
called the “Credit Document Obligations”);

     (ii) the full and prompt payment when due (whether at the stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including,
without limitation, all interest that accrues after the commencement of any case,
proceeding or other action relating to the bankruptcy, insolvency, reorganization or
similar proceeding of any Assignor at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such
proceeding) owing by such Assignor to the Hedging Creditors, now existing or hereafter
incurred under, arising out of or in connection with any Interest Rate Protection Agreement
or Other Hedging Agreement, whether such Interest Rate Protection Agreement or Other
Hedging Agreement is now in existence or hereinafter arising (including, without
limitation, in the case of an Assignor that is a Guarantor, all obligations, liabilities
and indebtedness of such Assignor under its Guaranty in respect of the Interest Rate
Protection Agreements and Other Hedging Agreements), and the due performance and compliance
by such Assignor with all of the terms, conditions and agreements contained in each such
Interest Rate Protection Agreement and Other Hedging Agreement (all such obligations,
liabilities and indebtedness under this clause (ii) being herein collectively called the
“Hedging Obligations”);

     (iii) any and all sums advanced by the Collateral Agent in order to preserve the
Collateral or preserve its security interest in the Collateral;

     (iv) in the event of any proceeding for the collection or enforcement of any
indebtedness, obligations, or liabilities of such Assignor referred to in clauses (i) and
(ii) above, after an Event of Default shall have occurred and be continuing, the reasonable
expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing
of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights
hereunder, together with reasonable attorneys’ fees and court costs;

     (v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to
reimbursement under Section 8.1 of this Agreement; and

     (vi) all amounts owing to any Agent or any of its affiliates pursuant to any of the
Credit Documents in its capacity as such;

it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the
types described above, whether outstanding on the date of this Agreement or extended from time to
time after the date of this Agreement.

          “Patents” shall mean any patent in or to which any Assignor now or hereafter has any
right, title or interest therein, and any divisions, continuations (including, but not limited to,
continuations-in-parts) and improvements thereof, as well as any application for a patent now or
hereafter made by any Assignor.

 

 

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          “Permits” shall mean, to the extent permitted to be assigned by the terms thereof or
by applicable law, all licenses, permits, rights, orders, variances, franchises or authorizations
of or from any governmental authority or agency.

          “Primary Obligations” shall have the meaning provided in Section 7.4(b) of this
Agreement.

          “Pro Rata Share” shall have the meaning provided in Section 7.4(b) of this Agreement.

          “Proceeds” shall mean all “proceeds” as such term is defined in the Uniform Commercial
Code as in effect in the State of New York on the Restatement Effective Date and, in any event,
shall also include, but not be limited to, (i) any and all proceeds of any insurance, indemnity,
warranty or guaranty payable to the Collateral Agent or any Assignor from time to time with respect
to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and
payable to any Assignor from time to time in connection with any requisition, confiscation,
condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental
authority (or any person acting under color of governmental authority) and (iii) any and all other
amounts from time to time paid or payable under or in connection with any of the Collateral.

          “Registered Organization” shall have the meaning provided in the Uniform Commercial
Code as in effect in the State of New York.

          “Representative” shall have the meaning provided in Section 7.4(e) of this Agreement.

          “Required Secured Creditors” shall mean (i) at any time prior to the Credit Document
Obligations Termination Date, the Required Lenders (or, to the extent provided in Section 13.12 of
the Credit Agreement, each of the Lenders), (ii) at any time on and after the Credit Document
Obligations Termination Date, the holders of a majority of the Hedging Obligations and (iii) at
all times on and after the First Lien Obligations Termination Date, but only if unpaid obligations
are then due and payable pursuant to the Intermediate Holdco Credit Document, and only with
respect to collateral securing the Intermediate Holdco Credit Document Obligations pursuant to the
U.S. Pledge Agreement and required applications with respect thereto pursuant to Section 7.4
hereof, the Intermediate Holdco Required Lenders (as defined in the Intermediate Holdco Credit
Agreement) (or, to the extent provided in the Intermediate Holdco Credit Agreement, each
Intermediate Holdco Lender (as defined therein)).

          “Requisite Creditors” shall have the meaning provided in Section 10.2 of this
Agreement.

          “Secondary Obligations” shall have the meaning provided in Section 7.4(b) of this
Agreement.

 

 

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          “Secured Creditors” shall mean, collectively, the Lender Creditors and Hedging
Creditors and, for purposes of the U.S. Pledge Agreement only (and any distributions required to
be made thereunder in accordance with Section 7.4 hereof), the Intermediate Holdco Creditors.

          “Secured Debt Agreements” shall mean and include the Lender Secured Financing
Documents and, for purposes of the U.S. Pledge Agreement only (and any distributions required to
be made thereunder in accordance with Section 7.4 hereof), the Intermediate Holdco Creditors and
the Intermediate Holdco Credit Documents.

          “Software” shall mean “software” as such term is defined in the Uniform Commercial
Code as in effect on the Restatement Effective Date in the State of New York.

          “Supporting Obligations” shall mean any “supporting obligation” as such term is
defined in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State
of New York, now or hereafter owned by any Assignor, or in which any Assignor has any rights, and,
in any event, shall include, but shall not be limited to all of such Assignor’s rights in any
Letter-of-Credit Right or secondary obligation that supports the payment or performance of, and
all security for, any Collateral consisting of Accounts, Chattel Paper, Documents, General
Intangibles, Instruments or Investment Properties.

          “Syndication Agent” shall have the meaning provided in the recitals hereto.

          “Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined
in the Uniform Commercial Code as in effect on the Restatement Effective Date in the State of New
York.

          “Termination Date” shall have the meaning provided in Section 10.8(a) of this
Agreement.

          “Timber-to-be-Cut” shall mean “timber-to-be-cut” as such term is used in the Uniform
Commercial Code as in effect on the Restatement Effective Date in the State of New York.

          “TL Priority Collateral” shall have the meaning assigned that term in the
Intercreditor Agreement.

          “Trade Secrets” shall mean any secretly held existing engineering or other data,
information, production procedures and other know-how relating to the design manufacture,
assembly, installation, use, operation, marketing, sale and/or servicing of any products or
business of an Assignor worldwide whether written or not.

          “Trade Secret Rights” shall mean the rights of an Assignor in any Trade Secret it
holds.

          “Transmitting Utility” shall have the meaning given such term in Section 9-102(a)(80)
of the UCC.

 

 

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          “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the
relevant jurisdiction.

          “U.S. Borrower” shall have the meaning provided in the recitals to this Agreement.

          “Voting Stock” shall have the meaning provided in the U.S. Pledge Agreement.

ARTICLE X

MISCELLANEOUS

          10.1. Notices. Except as otherwise specified herein, all notices, requests, demands or
other communications to or upon the respective parties hereto shall be sent or delivered by mail,
telegraph, telex, telecopy, cable or courier service and all such notices and communications shall,
when mailed, telegraphed, telexed, telecopied, or cabled or sent by courier, be effective when
deposited in the mails, delivered to the telegraph company, cable company or overnight courier, as
the case may be, or sent by telex or telecopier, except that notices and communications to the
Collateral Agent or any Assignor shall not be effective until received by the Collateral Agent or
such Assignor, as the case may be. All notices and other communications shall be in writing and
addressed as follows:

          (a)      if to any Assignor, c/o:

Dole Food Company, Inc.
One Dole Drive

Westlake Village, CA 91362

Attention: [                    ]

Telephone No.: [                    ]

Telecopier No.: [                    ]

Copy To: Peter Tennyson 

Telephone No.: (714) 668-6237 

Telecopier No.: (714) 979-1921

          (b)      if to the Collateral Agent, at:

60 Wall Street 

New York, NY 10005

Attention: Marguerite Sutton

Telephone No.: (212) 250-6150

Telecopier No.: (212) 797-4655

     (c) if to any Lender Creditor, at such address as such Lender Creditor shall
have specified in the Credit Agreement;

 

 

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     (d) if to any Hedging Creditor or Intermediate Holdco Creditor, at such address as such
Hedging Creditor or Intermediate Holdco Creditor shall have specified in writing to each
Assignor and the Collateral Agent;

or at such other address or addressed to such other individual as shall have been furnished in
writing by any Person described above to the party required to give notice hereunder.

          10.2. Waiver; Amendment. None of the terms and conditions of this Agreement (or, to
the extent any other Security Document requires waivers or amendments thereunder to occur in
accordance with the provisions of this Agreement, such other Security Document) may be changed,
waived, modified or varied in any manner whatsoever unless in writing duly signed by each Assignor
(or, to the extent any other Security Document requires waivers or amendments thereunder to occur
in accordance with the provisions of this Agreement, the pledgor, transferor, mortgagor or other
corresponding party under such other Security Document) directly affected thereby and the
Collateral Agent (or, to the extent any other Security Document requires waivers or amendments
thereunder to occur in accordance with the provisions of this Agreement, the collateral agent or
mortgagee under such other Security Document) (with the written consent of the Required Secured
Creditors) and subject to the terms of the Intercreditor Agreement; provided, that, subject
to the provisions of the Intercreditor Agreement, (i) additional Assignors may be added as parties
hereto from time to time in accordance with Section 10.12 (or the corresponding section in such
other Security Document) without the consent of any other Assignor or of the Secured Creditors,
(ii) Assignors may be removed as parties hereto from time to time in accordance with Section 10.13
(or the corresponding section in such other Security Document), without the consent of any other
Assignor or of the Secured Creditors, (iii) any change, waiver, modification or variance affecting
the rights and benefits of a single Class (as defined below) of Secured Creditors (and not all
Secured Creditors in a like or similar manner) shall require the written consent of the Requisite
Creditors (as defined below) of such Class, (iv) the Required Secured Creditors may agree to
modifications to this Agreement for the purpose, among other things, of securing additional
extensions of credit (including, without limitation, pursuant to the Credit Agreement or any
refinancing or extension thereof), without obtaining any consent pursuant to preceding clause (iii)
and (v) preceding clause (iii) shall not apply to any release of Collateral or any Assignor
effected in accordance with the requirements of Section 10.8 or 10.13 of this Agreement (or the
corresponding sections in such other Security Document), as the case may be, or any other release
of Collateral or of any Assignor(s) or the termination of this Agreement, so long as the U.S.
Borrower certifies that such actions will not violate the terms of any Secured Debt Agreement then
in effect. For the purpose of this Agreement, the term “Class” shall mean each class of
Secured Creditors with outstanding Obligations secured hereby at such time, i.e., whether
(x) the Lender Creditors as holders of the Credit Document Obligations or (y) the Hedging Creditors
as holders of the Hedging Obligations. For the purpose of this Agreement, the term “Requisite
Creditors” of any Class shall mean each of (x) with respect to the Credit Document Obligations,
the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of
the Lenders) and (y) with respect to the Hedging Obligations, the holders of at least a majority of
all Hedging Obligations outstanding from time to time under the Interest Rate Protection Agreements
and Other Hedging Agreements.

 

 

Page 40

          10.3. Obligations Absolute. Subject to the terms of the Intercreditor Agreement, the
obligations of each Assignor hereunder shall remain in full force and effect without regard to,
and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement,
readjustment, composition, liquidation or the like of such Assignor, (b) any exercise or
non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this
Agreement or any other Secured Debt Agreement, or (c) any amendment to or modification of any
Secured Debt Agreement or any security for any of the Obligations (in each case, whether or not
such Assignor shall have notice or knowledge of any of the foregoing).

          10.4. Successors and Assigns. This Agreement shall create a continuing security
interest in the Collateral and shall (i) remain in full force and effect, subject to release and/or
termination as set forth in Section 10.8, (ii) be binding upon each Assignor, its successors and
assigns, provided however, that no Assignor shall assign any of its rights or obligations
hereunder without the prior written consent of the Collateral Agent (with the consent of the
Required Secured Creditors), and (iii) inure, together with the rights and remedies of the
Collateral Agent hereunder, to the benefit of the Collateral Agent, the other Secured Creditors and
their respective successors, transferees and assigns. All agreements, statements, representations
and warranties made by each Assignor herein or in any certificate or other instrument delivered by
such Assignor or on its behalf under this Agreement shall be considered to have been relied upon by
the Secured Creditors and shall survive the execution and delivery of this Agreement and the other
Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their
behalf.

          10.5. Headings Descriptive. The headings of the several sections of this Agreement
are inserted for convenience only and shall not in any way affect the meaning or construction of
any provision of this Agreement.

          10.6. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a)
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR
PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT MAY BE BROUGHT IN THE
COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK,
AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH ASSIGNOR HEREBY IRREVOCABLY ACCEPTS FOR
ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE
JURISDICTION OF THE AFORESAID COURTS. EACH ASSIGNOR HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM
THAT ANY SUCH COURTS LACK JURISDICTION OVER SUCH ASSIGNOR, AND AGREES NOT TO PLEAD OR CLAIM IN ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN
ANY OF THE AFORESAID COURTS THAT ANY SUCH COURT LACKS JURISDICTION OVER SUCH ASSIGNOR. EACH
ASSIGNOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED
COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY

 

 

Page 41

REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH ASSIGNOR AT ITS ADDRESS FOR NOTICES AS
PROVIDED IN SECTION 10.1 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH
ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER
IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED
HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID
OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE COLLATERAL AGENT UNDER THIS
AGREEMENT, OR ANY SECURED CREDITOR, TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO
COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY ASSIGNOR IN ANY OTHER JURISDICTION.

          (b) EACH ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN
CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY
SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

          (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          10.7. Assignors’ Duties. It is expressly agreed, anything herein contained to the
contrary notwithstanding, that each Assignor shall remain liable to perform all of the obligations,
if any, assumed by it with respect to the Collateral and the Collateral Agent shall not have any
obligations or liabilities with respect to any Collateral by reason of or arising out of this
Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or
fulfill any of the obligations of any Assignor under or with respect to any Collateral.

          10.8. Termination; Release. (a) After the Termination Date, this Agreement (or, to the
extent any other Security Document requires termination or releases thereunder to occur in
accordance with the provisions of this Agreement, such other Security Document) shall terminate
(provided that all indemnities set forth herein including, without limitation in Section
8.1 hereof, shall survive such termination) and the Collateral Agent (or, to the extent any other
Security Document requires termination or releases thereunder to occur in accordance with the
provisions of this Agreement, the collateral agent or mortgagee under such other Security
Document), at the request and expense of the respective Assignor (or, to the extent any other
Security Document requires termination or releases thereunder to occur in accordance with the
provisions of this Agreement, the pledgor, transferor, mortgagor or other corresponding party under
such other Security Document), will, subject to the provisions of the Intercreditor Agreement,
promptly execute and deliver to such Assignor a proper instrument or instruments

 

 

Page 42

(including Uniform Commercial Code termination statements on form UCC-3) acknowledging the
satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to such
Assignor (without recourse and without any representation or warranty) such of the Collateral as
may be in the possession of the Collateral Agent or any of its sub-agents hereunder and as has not
theretofore been sold or otherwise applied or released pursuant to this Agreement. As used in this
Agreement, “Termination Date” shall mean the date upon which the Commitments under the
Credit Agreement have been terminated and all Interest Rate Protection Agreements and Other Hedging
Agreements entitled to the benefits of this Agreement have been terminated, no Letter of Credit,
Bank Guaranty or Note (as defined in the Credit Agreement) is outstanding (and all Loans, Unpaid
Drawings and Unreimbursed Payments have been paid in full), all Letters of Credit and Bank
Guaranties have been terminated, and all other Obligations (other than indemnities under the Credit
Documents which are not then due and payable) then due and payable have been paid in full.

          (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person
other than a Credit Party) (x) at any time prior to the Credit Document Obligations Termination
Date, in connection with a sale or disposition permitted by Section 9.02 of the Credit Agreement or
is otherwise released at the direction of the Required Lenders (or all the Lenders if required by
Section 13.12 of the Credit Agreement) or (y) at any time thereafter, to the extent permitted by
the other Secured Debt Agreements, and in the case of clauses (x) and (y), the proceeds of such
sale or disposition (or from such release) are applied in accordance with the terms of the Credit
Agreement or such other Secured Debt Agreement, as the case may be, to the extent required to be so
applied, the Collateral Agent, at the request and expense of such Assignor, will, duly release from
the security interest created hereby (and will execute and deliver such documentation, including
termination or partial release statements and the like in connection therewith) and assign,
transfer and deliver to such Assignor (without recourse and without any representation or warranty)
such of the Collateral as is then being (or has been) so sold or otherwise disposed of, or
released, and as may be in the possession of the Collateral Agent (or any of its sub-agents
hereunder) and has not theretofore been released pursuant to this Agreement. Furthermore, upon the
release of any U.S. Subsidiary Guarantor from the U.S. Subsidiaries Guaranty in accordance with the
provisions thereof, such Assignor (and the Collateral at such time assigned by the respective
Assignor pursuant hereto) shall be released from this Agreement. Notwithstanding anything to the
contrary contained above in this clause (b), at the time of each release of Collateral pursuant to
this clause (b), the Assignor requesting such release shall certify to the Collateral Agent that,
at the time of such release and immediately after giving effect thereto (and to the sale of the
respective Collateral), either (x) no Obligations are or will be then due and payable or (y) that
all Obligations which will then be due and payable shall be paid on such date in accordance with
the requirements of the respective Secured Debt Agreement(s).

          (c) At any time that an Assignor desires that the Collateral Agent take any action to
acknowledge or give effect to any release of Collateral pursuant to the foregoing Section 10.8(a)
or (b), such Assignor shall deliver to the Collateral Agent (and the relevant sub-agent, if any,
designated hereunder) a certificate signed by an officer of such Assignor stating that the release
of the respective Collateral is permitted pursuant to such Section 10.8(a) or (b). At any time that
the U.S. Borrower or the respective Assignor desires that a Subsidiary of the U.S. Borrower which
has been released from the U.S. Subsidiaries Guaranty be released

 

 

Page 43

hereunder as provided in the penultimate sentence of Section 10.8(b), it shall deliver to the
Collateral Agent a certificate signed by an officer of the U.S. Borrower and the respective
Assignor stating that the release of the respective Assignor (and its Collateral) is permitted
pursuant to such Section 10.8(b). If reasonably requested by the Collateral Agent (although the
Collateral Agent shall have no obligation to make any such request), the respective Assignor shall
furnish appropriate legal opinions (from counsel acceptable to the Collateral Agent) to the effect
set forth in this Section 10.8(c).

          (d) The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as
the result of any release of Collateral by it in accordance with, or which the Collateral Agent
believes to be in accordance with, this Section 10.8.

          10.9. Counterparts. This Agreement may be executed in any number of counter
parts and by the different parties hereto on separate counterparts, each of which when so
executed and delivered shall be an original, but all of which shall together constitute one
and the
same instrument. A set of counterparts executed by all the parties hereto shall be lodged
with the
Borrower and the Collateral Agent.

          10.10. Severability. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

          10.11. The Collateral Agent and the other Secured Creditors. The Collateral Agent will
hold in accordance with this Agreement (and, to the extent applicable, the Intercreditor Agreement)
all items of the Collateral at any time received under this Agreement. It is expressly understood
and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests
therein and with respect to the disposition thereof, and otherwise under this Agreement, are only
those expressly set forth in this Agreement. The Collateral Agent shall act hereunder on the terms
and conditions set forth herein and in Annex O hereto, the terms of which shall be deemed
incorporated herein by reference as fully as if same were set forth herein in their entirety.

          10.12. Additional Assignors. It is understood and agreed that any Subsidiary
Guarantor that desires to become an Assignor hereunder, or is required to execute a counterpart of
this Agreement after the Restatement Effective Date pursuant to the requirements of the Credit
Agreement or any other Credit Document, shall become an Assignor hereunder by executing a
counterpart hereof and delivering same to the Collateral Agent, or by executing a joinder
agreement in form and substance satisfactory to the Collateral Agent, (y) delivering supplements
to Annexes A through F, inclusive, and H through K, inclusive, hereto as are necessary to cause
such Annexes to be complete and accurate with respect to such additional Assignor on such date and
(z) taking all actions as specified in this Agreement as would have been taken by such Assignor
had it been an original party to this Agreement, in each case with all documents required above to
be delivered to the Collateral Agent and with all documents and actions required above to be taken
to the reasonable satisfaction of the Collateral Agent.

 

 

Page 44

          10.13. Release of Assignors. If at any time all of the Equity Interests of any
Assignor (or, to the extent any other Security Document requires releases thereunder to occur in
accordance with the provisions of this Agreement, the pledgor, transferor, mortgagor or other
corresponding party under such other Security Document) owned by the U.S. Borrower and its
Subsidiaries are sold (to a person other than the U.S. Borrower or any of its Wholly-Owned
Subsidiaries) in a transaction permitted pursuant to the Credit Agreement (and which does not
violate the terms of any other Secured Debt Agreement then in effect), then, at the request and
expense of the U.S. Borrower, the respective Assignor shall be released as an Assignor pursuant to
this Agreement (and the Collateral Agent (or, to the extent any other Security Document requires
releases thereunder to occur in accordance with the provisions of this Agreement, the collateral
agent or mortgagee under such other Security Document) is authorized and directed to execute and
deliver such instruments of release as are reasonably satisfactory to it). At any time that the
U.S. Borrower desires that an Assignor be released from this Agreement as provided in this Section
10.13, the U.S. Borrower shall deliver to the Collateral Agent a certificate signed by an officer
of the U.S. Borrower stating that the release of the respective Assignor is permitted pursuant to
this Section 10.13. If reasonably requested by the Collateral Agent (although the Collateral Agent
shall have no obligation to make any such request), the U.S. Borrower shall furnish legal opinions
(from counsel acceptable to the Collateral Agent) to the effect set forth in the immediately
preceding sentence. The Collateral Agent shall have no liability whatsoever to any other Secured
Creditor as a result of the release of any Assignor by it in accordance with, or which it believes
to be in accordance with, this Section 10.13.

[Remainder of this page intentionally left blank; signature page follows]

 

 

Page 45

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

	 	 	 	 	 	 	 
	One Dole Drive	 	DHM HOLDING COMPANY, INC.,	 	 
	Westlake Village, CA 91362	 	     as an Assignor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	DOLE HOLDING COMPANY, LLC.,	 	 
	Westlake Village, CA 91362	 	     as an Assignor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	One Dole Drive	 	DOLE FOOD COMPANY, INC.	 	 
	Westlake Village, CA 91362
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[signature blocks to be updated]

 

 

Page 46

Accepted and Agreed to:

DEUTSCHE BANK AG NEW YORK BRANCH,

as Collateral Agent

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:
	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

 

 

ANNEX A

to

U.S. SECURITY AGREEMENT

SCHEDULE OF CHIEF EXECUTIVE OFFICES

 

 

ANNEX B

to

U.S. SECURITY AGREEMENT

SCHEDULE OF INVENTORY AND EQUIPMENT LOCATIONS

	 	 	 	 	 
	Assignor	 	Location	 
	 
	 	 	 	 

 

 

ANNEX C

to

U.S. SECURITY AGREEMENT

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION

(AND WHETHER A REGISTERED ORGANIZATION AND/OR

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION,

LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Type of	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Assignor’s	 	 	 	 
	 	 	Organization	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Organization	 	 	 	 
	 	 	(or, if the	 	 	 	 	 	 	 	 	 	 	Assignor’s	 	 	Identification	 	 	 	 
	Exact Legal	 	Assignor is an	 	 	Registered	 	 	Jurisdiction	 	 	Location (purposes	 	 	Number	 	 	Transmitting	 
	Name of	 	Individual, so	 	 	Organization?	 	 	of	 	 	of NY UCC	 	 	(or, if it has	 	 	Utility?	 
	Assignor	 	indicate)	 	 	(Yes/No)	 	 	Organization	 	 	§ 9-307)	 	 	none, so indicate)	 	 	(Yes/No)	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

ANNEX D

to

U.S. SECURITY AGREEMENT

SCHEDULE OF TRADE AND FICTITIOUS NAMES

	 	 	 	 	 
	 	 	Trade and/or	 
	Name of Assignor	 	Fictitious Names	 
	 
	 	 	 	 

 

 

ANNEX E

to

U.S. SECURITY AGREEMENT

DESCRIPTION OF CERTAIN SIGNIFICANT TRANSACTIONS OCCURRING WITHIN

ONE YEAR PRIOR TO THE DATE OF THE U.S. SECURITY AGREEMENT

	 	 	 	 	 
	 	 	Description of any Transactions as required by	 
	Name of Assignor	 	Section 2.8 of the U.S. Security Agreement*	 
	 
	 	 	 	 

 

 

ANNEX F

to

U.S. SECURITY AGREEMENT

Schedule of Deposit Accounts

DOLE FOOD CO. — DOMESTIC CONCENTRATION AND DEPOSITORY ACCOUNTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	ACCOUNT NO.	 	BANK NAME	 	 	ACCOUNT TITLE	 	 	ACCT_ABRV	 	 	TYPE	 	 	DIVISION/OWNER	 	 	LOCATION	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

ANNEX G

to

U.S. SECURITY AGREEMENT

Form of Control Agreement Regarding Deposit Accounts

          AGREEMENT (as amended, modified or supplemented from time to time, this
“Agreement”), dated as of                      ___,      , among the undersigned assignor (the “Assignor”)
                    , not in its individual capacity but solely as Collateral Agent (the
“Collateral Agent”), and                      (the “Deposit Account Bank”), as the bank (as defined in
Section 9-102 of the UCC as in effect on the Restatement Effective Date in the State of
                     (the “UCC”)) with which one or more deposit accounts (as defined in Section
9-102 of the UCC) are maintained by the Assignor (with all such deposit accounts now or at any
time in the future maintained by the Assignor with the Deposit Account Bank being herein called
the “Deposit Accounts”).

W I T N E S S E T H :

          WHEREAS, the Assignor, various other Assignors and the Collateral Agent have entered into a
Security Agreement, dated as of March 28, 2003 and amended and restated as of April 12, 2006 (as
further amended, amended and restated, modified or supplemented from time to time, the “U.S.
Security Agreement”), under which, among other things, in order to secure the payment of the
Obligations (as defined in the U.S. Security Agreement), the Assignor has granted a security
interest to the Collateral Agent for the benefit of the Secured Creditors (as defined in the U.S.
Security Agreement) in all of the right, title and interest of the Assignor in and into any and all
deposit accounts (as defined in Section 9-102 of the UCC) and in all monies, securities,
instruments and other investments deposited therein from time to time (collectively, herein called
the “Collateral”); and

          WHEREAS, the Assignor desires that the Deposit Account Bank enter into this Agreement in
order to establish “control” (as defined in Section 9-104 of the UCC) in each Deposit Account at
any time or from time to time maintained with the Deposit Account Bank, and to provide for the
rights of the parties under this Agreement with respect to such Deposit Accounts;

          NOW THEREFORE, in consideration of the premises and the mutual promises and agreements
contained herein, and for other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

          1. Assignor’s Dealings with Deposit Accounts; Notice of Exclusive Control.
Until the Deposit Account Bank shall have received from the Collateral Agent a Notice of Exclusive
Control (as defined below), the Assignor shall be entitled to present items drawn on and otherwise
to withdraw or direct the disposition of funds from the Deposit Accounts and give instructions in
respect of the Deposit Accounts; provided, however, that the Assignor may not, and
the Deposit Account Bank agrees that it shall not permit the Assignor to, without the

 

 

Page 2

Collateral Agent’s prior written consent, close any Deposit Account. If the Collateral Agent shall
give to the Deposit Account Bank a notice of the Collateral Agent’s exclusive control of the
Deposit Accounts, which notice states that it is a “Notice of Exclusive Control” (a “Notice of
Exclusive Control”), only the Collateral Agent shall be entitled to withdraw funds from the
Deposit Accounts, to give any instructions in respect of the Deposit Accounts and any funds held
therein or credited thereto or otherwise to deal with the Deposit Accounts.

          2. Collateral Agent’s Right to Give Instructions as to Deposit Accounts.
(a) Notwithstanding the foregoing or any separate agreement that the Assignor may have with
the Deposit Account Bank, the Collateral Agent shall be entitled after delivery of a Notice of
Exclusive Control, for purposes of this Agreement, at any time to give the Deposit Account
Bank
instructions as to the withdrawal or disposition of any funds from time to time credited to
any
Deposit Account, or as to any other matters relating to any Deposit Account or any other
Collateral, without further consent from the Assignor. The Assignor hereby irrevocably
authorizes and instructs the Deposit Account Bank, and the Deposit Account Bank hereby
agrees, to comply with any such instructions from the Collateral Agent without any further
consent from the Assignor. Such instructions may include the giving of stop payment orders for
any items being presented to any Deposit Account for payment. The Deposit Account Bank
shall be fully entitled to rely on, and shall comply with, such instructions from the
Collateral
Agent even if such instructions are contrary to any instructions or demands that the Assignor
may give to the Deposit Account Bank. In case of any conflict between instructions received by
the Deposit Account Bank from the Collateral Agent and the Assignor, the instructions from the
Collateral Agent shall prevail.

          (b) It is understood and agreed that after delivery of a Notice of Exclusive Control the
Deposit Account Bank’s duty to comply with instructions from the Collateral Agent regarding the
Deposit Accounts is absolute, and the Deposit Account Bank shall be under no duty or obligation,
nor shall it have the authority, to inquire or determine whether or not such instructions are in
accordance with the U.S. Security Agreement or any other Credit Document (as defined in the U.S.
Security Agreement), nor seek confirmation thereof from the Assignor or any other Person.

          3. Assignor’s Exculpation and Indemnification of Depository Bank. The
Assignor hereby irrevocably authorizes and instructs the Deposit Account Bank, after delivery
of
a Notice of Exclusive Control, to follow instructions from the Collateral Agent regarding the
Deposit Accounts even if the result of following such instructions from the Collateral Agent
is
that the Deposit Account Bank dishonors items presented for payment from any Deposit
Account. The Assignor further confirms that the Deposit Account Bank shall have no liability
to
the Assignor for wrongful dishonor of such items in following such instructions from the
Collateral Agent. The Deposit Account Bank shall have no duty to inquire or determine whether
the Assignor’s obligations to the Collateral Agent are in default or whether the Collateral
Agent
is entitled, under any separate agreement between the Assignor and the Collateral Agent, to
give
any such instructions. The Assignor further agrees to be responsible for the Deposit Account
Bank’s customary charges and to indemnify the Deposit Account Bank from and to hold the
Deposit Account Bank harmless against any loss, cost or expense that the Deposit Account Bank

 

 

Page 3

may sustain or incur in acting upon instructions which the Deposit Account Bank believes in good
faith to be instructions from the Collateral Agent.

          4. Subordination of Security Interests; Deposit Account Bank’s Recourse to Deposit
Accounts. The Deposit Account Bank hereby subordinates any claims and security interests it
may have against, or with respect to, any Deposit Account at any time established or maintained
with it by the Assignor (including any amounts, investments, instruments or other Collateral from
time to time on deposit therein) to the security interests of the Collateral Agent (for the
benefit of the Secured Creditors) therein, and agrees that no amounts shall be charged by it to,
or withheld or set-off or otherwise recouped by it from, any Deposit Account of the Assignor or
any amounts, investments, instruments or other Collateral from time to time on deposit therein;
provided that the Deposit Account Bank may, however, from time to time debit the Deposit
Accounts for any of its customary charges in maintaining the Deposit Accounts or for reimbursement
for the reversal of any provisional credits granted by the Deposit Account Bank to any Deposit
Account, to the extent, in each case, that the Assignor has not separately paid or reimbursed the
Deposit Account Bank therefor.1

          5. Representations, Warranties and Covenants of Deposit Account Bank. The Deposit
Account Bank represents and warrants to the Collateral Agent that:

          (a) The Deposit Account Bank constitutes a “bank” (as defined in Section 9-102 of the UCC),
that the jurisdiction (determined in accordance with Section 9-304 of the UCC) of the Deposit
Account Bank for purposes of each Deposit Account maintained by the Assignor with the Deposit
Account Bank shall be one or more States within the United States.

          (b) The Deposit Account Bank shall not permit any Assignor to establish any demand, time,
savings, passbook or other account with it which it does not constitute a “deposit account” (as
defined in Section 9-102 of the UCC).

          (c) The account agreements between the Deposit Account Bank and the Assignor relating to the
establishment and general operation of the Deposit Accounts provide,
whether specifically or generally, that the laws of                     2 govern secured transactions
relating to the Deposit Accounts and that the Deposit Account Bank’s “jurisdiction” for purposes
of Section 9-304 of the UCC in respect of the Deposit Accounts is                     .3 The
Deposit Account Bank will not, without the Collateral Agent’s prior written consent, amend any

 

			
	1	 	If the respective Deposit Account Bank is unwilling to agree to this paragraph, or
substantially similar terms
reasonably acceptable to the Collateral Agent, then the Collateral Agent may take the actions described in
Section 3.9 of the U.S. Security Agreement. If the Deposit Account Bank does not agree to subordinations, its
security interests in the Deposit Accounts maintained with it will have priority over the Collateral Agent’s
security interests therein under Section 9-327 of Revised Article 9.
	 
	2	 	Inserted jurisdiction(s) must be consistent with requirements of preceding clause (a).
	 
	3	 	See footnote 2.

 

 

Page 4

such account agreement so that the Deposit Account Bank’s jurisdiction for purposes of Section
9-304 of the UCC is other than a jurisdiction permitted pursuant to preceding clause (a). All
account agreements in respect of each Deposit Account in existence on the Restatement Effective
Date are listed on Annex A hereto and copies of all such account agreements have been
furnished to the Collateral Agent. The U.S. Borrower or the Deposit Account Bank will promptly
furnish to the Collateral Agent a copy of the account agreement for each Deposit Account hereafter
established by the Deposit Account Bank for the Assignor.

          (d) The Deposit Account Bank has not entered and will not enter, into any agreement with any
other Person by which the Deposit Account Bank is obligated to comply with instructions from such
other Person as to the disposition of funds from any Deposit Account or other dealings with any
Deposit Account or other of the Collateral.

          (e) On the Restatement Effective Date the Deposit Account Bank maintains no Deposit Accounts
for the Assignor other than the Deposit Accounts specifically identified in Annex A hereto.

          (f) Any items or funds received by the Deposit Account Bank for the Assignor’s account will be
credited to said Deposit Accounts specified in paragraph (e) above or to any other Deposit Accounts
hereafter established by the Deposit Account Bank for the Assignor in accordance with this
Agreement.

          (g) The U.S. Borrower or the Deposit Account Bank will promptly notify the Collateral Agent of
each Deposit Account hereafter established by the Deposit Account Bank for the Assignor (which
notice shall specify the account number of such Deposit Account and the location at which the
Deposit Account is maintained), and each such new Deposit Account shall be subject to the terms of
this Agreement in all respects.

          6. Deposit Account Statements and Information. The Deposit Account Bank agrees, and is
hereby authorized and instructed by the Assignor, to furnish to the Collateral Agent, at its
address indicated below, copies of all account statements and other information relating to each
Deposit Account that the Deposit Account Bank sends to the Assignor and to disclose to the
Collateral Agent all information reasonably requested by the Collateral Agent regarding any Deposit
Account.

          7. Conflicting Agreements. This Agreement shall have control over any conflicting
agreement between the Deposit Account Bank and the Assignor.

          8. Merger or Consolidation of Deposit Account Bank. Without the execution or filing of
any paper or any further act on the part of any of the parties hereto, any bank into which the
Deposit Account Bank may be merged or with which it may be consolidated, or any bank resulting from
any merger to which the Deposit Account Bank shall be a party, shall be the successor of the
Deposit Account Bank hereunder and shall be bound by all provisions hereof which are binding upon
the Deposit Account Bank and shall be deemed to affirm as to itself all representations and
warranties of the Deposit Account Bank contained herein.

 

 

Page 5

          9. Notices.

          (a) All notices and other communications provided for in this Agreement shall be
in writing (including facsimile) and sent to the intended recipient at its address or telex or
facsimile number set forth below:

If to the Collateral Agent, at:

60 Wall Street

New York, NY 10006

Attention: [                    ]

If to the Assignor, at:

                                        

                                        

                                        

If to the Deposit Account Bank, at:

                                        

                                        

                                        

or, as to any party, to such other address or telex or facsimile number as such party may designate
from time to time by notice to the other parties.

          (b) Except as otherwise provided herein, all notices and other communications
hereunder shall be delivered by hand or by commercial overnight courier (delivery charges
prepaid), or mailed, postage prepaid, or telexed or faxed, addressed as aforesaid, and shall
be
effective (i) three business days after being deposited in the mail (if mailed), (ii) when
delivered
(if delivered by hand or courier) and (iii) or when transmitted with receipt confirmed (if
telexed
or faxed); provided that notices to the Collateral Agent shall not be effective until
actually
received by it.

          10. Amendment. This Agreement may not be amended, modified or supplemented except in
writing executed and delivered by all the parties hereto.

          11. Binding Agreement. This Agreement shall bind the parties hereto and their
successors and assigns and shall inure to the benefit of the parties hereto and their successors
and assigns. Without limiting the provisions of the immediately preceding sentence, the Collateral
Agent at any time or from time to time may designate in writing to the Deposit Account Bank a
successor Collateral Agent (at such time, if any, as such entity becomes the Collateral Agent under
the U.S. Security Agreement, or at any time thereafter) who shall

 

 

Page 6

thereafter succeed to the rights of the existing Collateral Agent hereunder and shall be entitled
to all of the rights and benefits provided hereunder.

          12. Continuing Obligations. The rights and powers granted herein to the Collateral
Agent have been granted in order to protect and further perfect its security interests in the
Deposit Accounts and other Collateral and are powers coupled with an interest and will be affected
neither by any purported revocation by the Assignor of this Agreement or the rights granted to the
Collateral Agent hereunder or by the bankruptcy, insolvency, conservatorship or receivership of the
Assignor or the Deposit Account Bank or by the lapse of time. The rights of the Collateral Agent
hereunder and in respect of the Deposit Accounts and the other Collateral, and the obligations of
the Assignor and Deposit Account Bank hereunder, shall continue in effect until the security
interests of Collateral Agent in the Deposit Accounts and such other Collateral have been
terminated and the Collateral Agent has notified the Deposit Account Bank of such termination in
writing.

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

          14. Counterparts. This Agreement may be executed in any number of counterparts, all
of which shall constitute one and the same instrument, and any party hereto may execute this
Agreement by signing and delivering one or more counterparts.

          15. Notice of Exclusive Control. Notwithstanding anything to the contrary contained
herein, the Collateral Agent hereby covenants and agrees (x) not to furnish to the Deposit Account
Bank a Notice of Exclusive Control at any time no Default or Event of Default is then in existence
and (y) to promptly revoke any Notice of Exclusive Control previously given to a Deposit Account
Bank at such time as the underlying Default or Event of Default (and all other Defaults and Events
of Default) are cured or waived in accordance with the terms of the Credit Agreement or the other
Secured Debt Agreements, as applicable; provided that the liability of the Collateral
Agent to the Assignor and any other Person for any failure to act as set forth above shall be
limited as, and to the extent, provided in the Security Agreement.

[Remainder of this page intentionally left blank; signature page follows]

 

 

Page 7

          IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement as of
the date first written above.

	 	 	 	 	 
	 	Assignor:

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Collateral Agent:

DEUTSCHE BANK AG NEW YORK BRANCH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Deposit Account Bank:

[NAME OF DEPOSIT ACCOUNT BANK]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

ANNEX H

to

U.S. SECURITY AGREEMENT

DESCRIPTION OF COMMERCIAL TORT CLAIMS

None

 

 

Annex I

Page 2

SCHEDULE OF MARKS AND APPLICATIONS;

INTERNET DOMAIN NAME REGISTRATION

1. Marks and Applications:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Trademark Name	 	Country Name	 	 	Owner Name	 	 	Status	 	 	Appl. No.	 	 	Filing Date	 	 	Reg. No.	 	 	Reg. Date	 	 	Class	 	 	Goods	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

Page 3

2. Internet Domain Name Registrations:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Domain Name	 	Country	 	 	Owner	 	 	Reg. Date	 	 	Exp. Date	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

ANNEX J

to

U.S. SECURITY AGREEMENT

SCHEDULE OF PATENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Patent Name	 	Country	 	 	Owner/Assignee	 	 	Serial No.	 	 	Filing Date	 	 	Reg no.	 	 	Reg. Date 	 	 	Comments	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

ANNEX K

to

U.S. SECURITY AGREEMENT

SCHEDULE OF COPYRIGHTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Copyright Title	 	 	 	 	Owner/Claimant	 	 	Reg. No.	 	 	Reg. Date	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

ANNEX L

to

U.S. SECURITY AGREEMENT

FORM OF GRANT OF SECURITY INTEREST

IN UNITED STATES TRADEMARKS

          FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of
which are hereby acknowledged, [Name of Grantor], a                                           (the “Grantor”)
with principal offices at                                         , hereby grants to Deutsche Bank AG
New York Branch, as Collateral Agent, with principal offices at 60 Wall Street, New York, NY 10006,
(the “Grantee”), a security interest in (i) all of the Grantor’s right, title and interest
in and to the United States trademarks, trademark registrations and trademark applications (the
“Marks”) set forth on Schedule A attached hereto, (ii) all Proceeds (as such term is
defined in the U.S. Security Agreement referred to below) and products of the Marks, (iii) the
goodwill of the businesses with which the Marks are associated and (iv) all causes of action
arising prior to or after the Restatement Effective Date for infringement of any of the Marks or
unfair competition regarding the same.

          THIS GRANT is made to secure the satisfactory performance and payment of all the Obligations
of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other
Assignors from time to time party thereto and the Grantee, dated as of March 28, 2003 and amended
and restated as of April 12, 2006 (as further amended, modified, restated and/or supplemented from
time to time, the “U.S. Security Agreement”). Upon the occurrence of the Termination Date
(as defined in the U.S. Security Agreement), the Grantee shall execute, acknowledge, and deliver
to the Grantor an instrument in writing releasing the security interest in the Marks acquired
under this Grant.

          This Grant has been granted in conjunction with the security interest granted to the Grantee
under the U.S. Security Agreement. The rights and remedies of the Grantee with respect to the
security interest granted herein are as set forth in the U.S. Security Agreement, all

 

 

Page 2

terms and provisions of which are incorporated herein by reference. In the event that any
provisions of this Grant are deemed to conflict with the U.S. Security Agreement, the provisions
of the U.S. Security Agreement shall govern.

[Remainder of this page intentionally left blank; signature page follows]

 

 

Page 3

          IN WITNESS WHEREOF, the undersigned have executed this Grant as of the
      day of                      ,      .

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, 

     as Collateral Agent and Grantee
 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	STATE OF

	 	 	 	) 
	 

	 	 	 	 
	 

	 	 	 	) ss.:
	COUNTY OF

	 	 	 	) 
	 

	 	 	 	 

     On this       day of                     ,      , before me personally came
                                          who, being by me duly sworn, did state as follows: that [s]he is
                     of [Name of Grantor], that [s]he is authorized to execute the foregoing Grant
on behalf of said                      and that [s]he did so by authority of the [Board of Directors] of
said .

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	Notary Public
	 	 

 

 

	 	 	 	 	 
	STATE OF

	 	 	 	) 
	 

	 	 	 	 
	 

	 	 	 	) ss.:
	COUNTY OF

	 	 	 	) 
	 

	 	 	 	 

     On this       day of                     ,      , before me personally came
                                          who, being by me duly sworn, did state as follows: that [s]he is                     
of Deutsche Bank AG New York Branch, that [s]he is authorized to
execute the foregoing Grant on behalf of said corporation and that [s]he did so by authority of the
Board of Directors of said corporation.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	Notary Public
	 	 

 

 

SCHEDULE A

	 	 	 	 	 	 	 	 	 
	MARK	 	REG. NO.	 	 	REG. DATE	 
	 
	 	 	 	 	 	 	 	 

 

 

ANNEX M

to

U.S. SECURITY AGREEMENT

FORM OF GRANT OF SECURITY INTEREST

IN UNITED STATES PATENTS

          FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of
which are hereby acknowledged, [Name of Grantor], a                                           (the “Grantor”)
with principal offices at                                         , hereby grants to Deutsche Bank AG
New York Branch, as Collateral Agent, with principal offices at 60 Wall Street, New York, NY 10006,
(the “Grantee”), a security interest in (i) all of the Grantor’s rights, title and interest
in and to the United States patents (the “Patents”) set forth on Schedule A attached
hereto, in each case together with (ii) all Proceeds (as such term is defined in the U.S. Security
Agreement referred to below) and products of the Patents, and (iii) all causes of action arising
prior to or after the Restatement Effective Date for infringement of any of the Patents or unfair
competition regarding the same.

          THIS GRANT is made to secure the satisfactory performance and payment of all the Obligations
of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other
Assignors from time to time party thereto and the Grantee, dated as of March 28, 2003 and amended
and restated as of April 12, 2006 (as further amended, modified, restated and/or supplemented from
time to time, the “U.S. Security Agreement”). Upon the occurrence of the Termination Date
(as defined in the U.S. Security Agreement), the Grantee shall execute, acknowledge, and deliver
to the Grantor an instrument in writing releasing the security interest in the Patents acquired
under this Grant.

 

 

Page 2

          This Grant has been granted in conjunction with the security interest granted to the Grantee
under the U.S. Security Agreement. The rights and remedies of the Grantee with respect to the
security interest granted herein are as set forth in the Security Agreement, all terms and
provisions of which are incorporated herein by reference. In the event that any provisions of this
Grant are deemed to conflict with the U.S. Security Agreement, the provisions of the U.S. Security
Agreement shall govern.

[Remainder of this page intentionally left blank; signature page follows]

 

 

Page 3

          IN WITNESS WHEREOF, the undersigned have executed this Grant as of the
                     day of                     , ___.

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, 

     as Collateral Agent and Grantee
 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	STATE OF                                         

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	ss:
	 	 
	COUNTY OF                                         

	 	 	)	 	 	 	 	 

          On this                      day of                     , ___, before me personally came
                                         who, being by me duly sworn, did state as follows: that [s]he is                     
of [Name of Grantor], that [s]he is authorized to execute the foregoing Grant
on behalf of said                                         and that [s]he did so by authority of the Board of Directors of
said                                         .

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Notary Public
	 	 

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	STATE OF                                         

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	ss:
	 	 
	COUNTY OF                                         

	 	 	)	 	 	 	 	 

          On this ___
day of                                         , ___, before me personally came
                                         who, being by me duly sworn, did state as follows: that [s]he is
                                         of Deutsche Bank AG New York Branch, that [s]he is authorized to
execute the foregoing Grant on behalf of said corporation and that [s]he did so by authority of the
Board of Directors of said corporation.

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Notary Public
	 	 

 

 

SCHEDULE A

	 	 	 	 	 
	PATENT	 	PATENT NO.	 	ISSUE DATE
	 

	 	 
	 	 
	 
	 	 	 	 

 

 

ANNEX N

to
U.S. SECURITY AGREEMENT

FORM OF GRANT OF SECURITY INTEREST

IN UNITED STATES COPYRIGHTS

          WHEREAS, [Name of Grantor], a                                                              
(the “Grantor”), having its chief executive office at                                          ,                              
          , is
the owner of all right, title and interest in and to the United States copyrights and associated
United States copyright registrations and applications for registration set forth in Schedule A
attached hereto;

          WHEREAS, Deutsche Bank AG New York Branch, as Collateral Agent, having its principal offices
at 60 Wall Street, New York, NY 10006 (the “Grantee”), desires to acquire a security
interest in said copyrights and copyright registrations and applications therefor; and

          WHEREAS, the Grantor is willing to grant to the Grantee a security interest in and lien upon
the copyrights and copyright registrations and applications therefor described above.

          NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, and subject to the terms and conditions of the Security Agreement, dated as of March
28, 2003 and amended and restated as of April 12, 2006, made by the Grantor, the other Assignors
from time to time party thereto and the Grantee (as further amended, modified, restated and/or
supplemented from time to time, the “U.S. Security Agreement”), the Grantor hereby assigns
to the Grantee as collateral security, and grants to the Grantee a security interest in, the
copyrights and copyright registrations and applications therefor set forth in Schedule A attached
hereto.

          This Grant has been granted in conjunction with the security interest granted to the Grantee under
the U.S. Security Agreement. The rights and remedies of the Grantee with respect to the security
interest granted herein are as set forth in the U.S. Security Agreement, all terms and provisions
of which are incorporated herein by reference. In the event that any provisions of this Grant are
deemed to conflict with the U.S. Security Agreement, the provisions of the US. Security Agreement
shall govern.

[Remainder of this page intentionally left blank; signature page follows]

 

 

Page 2

          IN WITNESS WHEREOF, the undersigned have executed this Grant as of the
___ day of
                                        , ___.

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, 

     as Collateral Agent and Grantee
 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

2

 

	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	STATE OF                                         
	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	ss:
	 	 
	COUNTY OF                                         
	 	 	)	 	 	 	 	 

          On this ___
day of                      , ___, before me personally came
                                         , who being duly sworn, did depose and say that [s]he is
                                         of [Name of Grantor], that [s]he is authorized to execute the foregoing
Grant on behalf of said corporation and that [s]he did so by authority of the Board of Directors of
said corporation.

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Notary Public
	 	 

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	STATE OF                                         

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	ss.:
	 	 
	COUNTY OF                                         

	 	 	)	 	 	 	 	 

          On this ___ day of                     , ___, before me personally came
                                         who, being by me duly sworn, did state as follows: that [s]he is                                         
of Deutsche Bank AG New York Branch, that [s]he is
authorized to execute the foregoing Grant on behalf of said                                          and that [s]he did so by authority of
the Board of Directors of said                                         

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Notary Public
	 	 

2

 

ANNEX O

to

U.S. SECURITY AGREEMENT

THE COLLATERAL AGENT

          1. Appointment. The Secured Creditors, by their acceptance of the benefits of the U.S.
Security Agreement to which this Annex O is attached (the “U.S. Security
Agreement”) hereby irrevocably designate Deutsche Bank AG New York Branch (and any successor
Collateral Agent) to act as specified herein and therein. Unless otherwise defined herein, all
capitalized terms used herein (x) and defined in the U.S. Security Agreement, are used herein as
therein defined and (y) not defined in the U.S. Security Agreement, are used herein as defined in
the Credit Agreement referenced in the U.S. Security Agreement. Each Secured Creditor hereby
irrevocable authorizes, and each holder of any Obligation by the acceptance of such Obligation and
by the acceptance of the benefits of the U.S. Security Agreement shall be deemed irrevocably to
authorize, the Collateral Agent to take such action on its behalf under the provisions of the U.S.
Security Agreement and any instruments and agreements referred to therein and to exercise such
powers and to perform such duties thereunder as are specifically delegated to or required of the
U.S. Security Agreement by the terms thereof and such other powers as are reasonably incidental
thereto. The Collateral Agent may perform any of its duties hereunder or thereunder by or through
its authorized agents, sub-agents or employees.

          2. Nature of Duties. (a) The Collateral Agent shall have no duties or responsibilities
except those expressly set forth herein or in the U.S. Security Agreement. The duties of the
Collateral Agent shall be mechanical and administrative in nature; the Collateral Agent shall not
have by reason of this Agreement, any other Credit Document or any other Secured Debt Agreement a
fiduciary relationship in respect of any Secured Creditor; and nothing in this Agreement, any other
Credit Document or any other Secured Debt Agreement, expressed or implied, is intended to or shall
be so construed as to impose upon the Collateral Agent any obligations in respect of the U.S.
Security Agreement except as expressly set forth herein and therein.

          (b) The Collateral Agent shall not be responsible for insuring the Collateral or for the
payment of taxes, charges or assessments or discharging of Liens upon the collateral or otherwise
as to the maintenance of the Collateral.

          (c) The Collateral Agent shall not be required to ascertain or inquire as to the performance
by any Assignor of any of the covenants or agreements contained in the U.S. Security Agreement,
any other Credit Document or any other Secured Debt Agreement.

          (d) The Collateral Agent shall be under no obligation or duty to take any action under, or
with respect to, the U.S. Security Agreement if taking such action (i) would subject the Collateral
Agent to a tax in any jurisdiction where it is not then subject to a tax or (ii) would require the
Collateral Agent to qualify to do business, or obtain any license, in any jurisdiction where it is
not then so qualified or licensed or (iii) would subject the Collateral Agent to in personam
jurisdiction in any locations where it is not then so subject.

          (e) Notwithstanding any other provision of this Annex O, neither the Collateral Agent
nor any of its officers, directors, employees, affiliates or agents shall, in its individual
capacity, be personally liable for any action taken or omitted to be taken by it in accordance

 

 

Page 2

with, or pursuant to this Annex O or the U.S. Security Agreement except for its own gross
negligence or willful misconduct (as determined in a final, non-appealable decision by a court of
competent jurisdiction).

          3. Lack of Reliance on the Collateral Agent. Independently and without reliance upon
the Collateral Agent, each Secured Creditor, to the extent it deems appropriate, has made and shall
continue to make (i) its own independent investigation of the financial condition and affairs of
each Assignor and its Subsidiaries in connection with the making and the continuance of the
Obligations and the taking or not taking of any action in connection therewith, and (ii) its own
appraisal of the creditworthiness of each Assignor and its Subsidiaries, and the Collateral Agent
shall have no duty or responsibility, either initially or on a continuing basis, to provide any
Secured Creditor with any credit or other information with respect thereto, whether coming into its
possession before the extension of any Obligations or the purchase of any notes or at any time or
times thereafter. The Collateral Agent shall not be responsible in any manner whatsoever to any
Secured Creditor for the correctness of any recitals, statements, information, representations or
warranties herein or in any document, certificate or other writing delivered in connection herewith
or for the execution, effectiveness, genuineness, validity, enforceability, perfection,
collectibility, priority or sufficiency of the U.S. Security Agreement or the security interests
granted hereunder or the financial condition of any Assignor or any Subsidiary of any Assignor or
be required to make any inquiry concerning either the performance or observance of any of the
terms, provisions or conditions of the U.S. Security Agreement, or the financial condition of any
Assignor or any Subsidiary of any Assignor, or the existence or possible existence of any default
or event of default. The Collateral Agent makes no representations as to the value or condition of
the Collateral or any part thereof, or as to the title of any Assignor thereto or as to the
security afforded by the U.S. Security Agreement.

          4. Certain Rights of the Collateral Agent. (a) No Secured Creditor shall have the
right to cause the Collateral Agent to take any action with respect to the Collateral, with only
the Required Secured Creditors having the right to direct the Collateral Agent to take any such
action. If the Collateral Agent shall request instructions from the Required Secured Creditors,
with respect to any act or action (including failure to act) in connection with the U.S. Security
Agreement, the Collateral Agent shall be entitled to refrain from such act or taking such action
unless and until it shall have received instructions from the Required Secured Creditors and to the
extent requested, appropriate indemnification in respect of actions to be taken, and the Collateral
Agent shall not incur liability to any Person by reason of so refraining. Without limiting the
foregoing, no Secured Creditor shall have any right of action whatsoever against the Collateral
Agent as a result of the Collateral Agent acting or refraining from acting hereunder in accordance
with the instructions of the Required Secured Creditors.

          (b) Notwithstanding anything to the contrary contained herein, the Collateral Agent is
authorized, but not obligated, (i) to take any action reasonably required to perfect or continue
the perfection of the liens on the Collateral for the benefit of the Secured Creditors and (ii)
when instructions from the Required Secured Creditors have been requested by the Collateral Agent
but have not yet been received, to take any action which the Collateral Agent, in good faith,
believes to be reasonably required to promote and protect the interests of the Secured Creditors in
the Collateral; provided that once instructions have been received, the actions of the

 

 

Page 3

Collateral Agent shall be governed thereby and the Collateral Agent shall not take any further
action which would be contrary thereto.

          (c) Notwithstanding anything to the contrary contained herein or in the U.S. Security
Agreement, the Collateral Agent shall not be required to take any action that exposes or, in the
good faith judgment of the Collateral Agent may expose, the Collateral Agent or its officers,
directors, agents or employees to personal liability, unless the Collateral Agent shall be
adequately indemnified as provided herein, or that is, or in the good faith judgment of the
Collateral Agent may be, contrary to the U.S. Security Agreement, any Secured Debt Agreement, the
Intercreditor Agreement or applicable law.

          5. Reliance. The Collateral Agent shall be entitled to rely, and shall be fully
protected in relying, upon any note, writing, resolution, notice, statement, certificate, telex,
teletype or telescopes message, cablegram, radiogram, order or other document or telephone message
signed, sent or made by the proper Person or entity, and, with respect to all legal matters
pertaining hereto or to the U.S. Security Agreement and its duties thereunder and hereunder, upon
advice of counsel selected by it.

          6. Indemnification. To the extent the Collateral Agent is not reimbursed and
indemnified by the Assignors under the U.S. Security Agreement, the Secured Creditors will
reimburse and indemnify the Collateral Agent, in proportion to their respective outstanding
principal amounts (including, for this purpose, the Stated Amount of outstanding Letters of Credit
and the Face Amount of outstanding Bank Guaranties, as well as any unpaid Primary Obligations in
respect of Interest Rate Protection Agreements and Other Hedging Agreements, as outstanding
principal) of Obligations, for and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever which may be imposed on, incurred by or asserted against the Collateral Agent in
performing its duties hereunder, or in any way relating to or arising out of its actions as
Collateral Agent in respect of the U.S. Security Agreement and/or the Intercreditor Agreement
except for those resulting solely from the Collateral Agent’s own gross negligence or willful
misconduct (as determined in a final, non-appealable decision by a court of competent
jurisdiction). The indemnities set forth in this Section 6 shall survive the repayment of all
Obligations, with the respective indemnification at such time to be based upon the outstanding
principal amounts (determined as described above) of Obligations at the time of the respective
occurrence upon which the claim against the Collateral Agent is based or, if same is not reasonably
determinable, based upon the outstanding principal amounts (determined as described above) of
Obligations as in effect immediately prior to the termination of the U.S. Security Agreement. The
indemnities set forth in this Section 6 are in addition to any indemnities provided by the Lenders
to the Collateral Agent pursuant to the Credit Agreement or any other Credit Document, with the
effect being that the Lenders shall be responsible for indemnifying the Collateral Agent to the
extent the Collateral Agent does not receive payments pursuant to this Section 6 from the Secured
Creditors (although in such event, and upon the payment in full of all such amounts owing to the
Collateral Agent by the Lenders, the Lenders shall be subrogated to any rights of the Collateral
Agent to receive payment from the Secured Creditors).

          7. The Collateral Agent in its Individual Capacity. With respect to its
obligations as a lender under the Credit Agreement and any other Credit Documents to which the

 

 

Page 4

Collateral Agent is a party, and to act as agent under one or more of such Credit Documents, the
Collateral Agent shall have the rights and powers specified therein and herein for a “Lender”, or
an “Agent”, as the case may be, and may exercise the same rights and powers as though it were not
performing the duties specified herein; and the terms “Lenders,” “Required Lenders,” “holders of
Notes,” or any similar terms shall, unless the context clearly otherwise indicates, include the
Collateral Agent in its individual capacity. The Collateral Agent and its affiliates may accept
deposits from, lend money to, and generally engage in any kind of banking, investment banking,
trust or other business with any Assignor or any Affiliate or Subsidiary of any Assignor as if it
were not performing the duties specified herein or in the other Credit Documents, and may accept
fees and other consideration from the Assignors for services in connection with the Credit
Agreement, the other Credit Documents and otherwise without having to account for the same to the
Secured Creditors.

          8. Holders. The Collateral Agent may deem and treat the payee of any note as the owner
thereof for all purposes hereof unless and until written notice of the assignment, transfer or
endorsement thereof, as the case may be, shall have been filed with the Collateral Agent. Any
request, authority or consent of any person or entity who, at the time of making such request or
giving such authority or consent, is the holder of any note, shall be final and conclusive and
binding on any subsequent holder, transferee, assignee or endorsee, as the case may be, of such
note or of any note or notes issued in exchange therefor.

          9. Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the
performance of all of its functions and duties hereunder and under the U.S. Security Agreement at
any time by giving 15 Business Days’ prior or written notice to the U.S. Borrower and the Secured
Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent
pursuant to clause (b) or (c) below.

          (b) If a successor Collateral Agent shall not have been appointed within said 15 Business Day
period by the Required Secured Creditors, the Collateral Agent, with the consent of the U.S.
Borrower, which consent shall not be unreasonably withheld or delayed, shall then appoint a
successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such
time, if any, as the Required Secured Creditors appoint a successor Collateral Agent as provided
above.

          (c) If no successor Collateral Agent has been appointed pursuant to clause (b) above by the
15th Business Day after the date of such notice of resignation was given by the
Collateral Agent, as a result of a failure by the U.S. Borrower to consent to the appointment of
such a successor Collateral Agent, the Required Secured Creditors shall then appoint a successor
Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if
any, as the Required Secured Creditors appoint a successor Collateral Agent as provided above.

* * *

 

 

EXHIBIT I

FORM OF SOLVENCY CERTIFICATE

			
	To:	 	The Agents, the Collateral Agent and each

of the Lenders party to the Credit

Agreement referred to below:

          I, the undersigned, the Chief Financial Officer of DHM Holding Company, Inc., a Delaware
corporation (“Holdings”) in that capacity only and not in my individual capacity, do hereby
certify as of the date hereof, and based upon facts and circumstances as they exist as of the date
hereof:

          1. This Certificate is furnished to each of the Agents, the Collateral Agent and each of the
Lenders pursuant to Section 5.14 of the Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005 and further amended and restated as of April 12, 2006, among
Holdings, Dole Holding Company, LLC, Dole Food Company, Inc. (the “U.S. Borrower”), Solvest, Ltd.
(the “Bermuda Borrower” and, together with the U.S. Borrower, the “Borrowers”), the lenders
from time to time party thereto (the “Lenders”), Banc of America Securities LLC, as Syndication
Agent, The Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead
Arranger and Sole Book Runner, and Deutsche Bank AG New York Branch, as Administrative Agent and
Deposit Bank (such Credit Agreement, as in effect on the date of this Certificate, being herein
called the “Credit Agreement”). Unless otherwise defined herein, capitalized terms used in this
Certificate shall have the meanings set forth in the Credit Agreement.

          2. For purposes of this Certificate, I have made such inquiries of such other officers of
Holdings and/or its Subsidiaries who have responsibility for financial and accounting matters as I
have deemed appropriate for purposes of the opinion provided in Section 3.

          3. Based on and subject to the foregoing, I hereby certify on behalf of Holdings that, after
giving effect to the consummation of the Transaction and the related financing transactions
(including the incurrence of the New Financing (as hereinafter defined)), it is my opinion that (i)
the fair value of the assets of each of the U.S. Borrower individually, the Bermuda Borrower
individually, the U.S. Borrower and its Subsidiaries taken as a whole, the Bermuda Borrower and its
Subsidiaries taken as a whole and Holdings and its Subsidiaries taken as a whole, as the case may
be, exceed its or their respective debts; (ii) each of the U.S. Borrower individually, the Bermuda
Borrower individually, the U.S. Borrower and its Subsidiaries taken as a whole, the Bermuda
Borrower and its Subsidiaries taken as a whole, and Holdings and its Subsidiaries taken as a whole,
as the case may be, does not or do not have unreasonably small capital; and (iii) each of the U.S.
Borrower individually, the Bermuda Borrower individually, the U.S. Borrower and its Subsidiaries
taken as a whole, the Bermuda Borrower and its Subsidiaries taken as a whole, and Holdings and its
Subsidiaries taken as a whole, as the case may be, has not incurred debts beyond its or their
ability to pay such debts as such debts mature. For purposes of this paragraph 3, “debts” has the
meaning set forth in Section 7.10(a) of the Credit Agreement). For purposes of this paragraph 3 and
the following paragraph 4, “New Financing” means the

 

 

Page 2

Indebtedness incurred or to be incurred by Holdings and its Subsidiaries under the Credit Documents
(assuming the full utilization by the Borrowers of the Commitments under the Credit Agreement), the
ABL Credit Documents (assuming the full utilization by the ABL Borrower of the Commitments under,
and as defined in, the ABL Credit Documents) and all other financings contemplated by the Credit
Documents and the ABL Credit Documents, in each case after giving effect to the Transaction and the
incurrence of all financings in connection therewith.

          4. Holdings and the Borrowers do not intend, in consummating the transactions contemplated by
the New Financing, to delay, hinder, or defraud either present or future creditors.

          IN
WITNESS WHEREOF, I have hereto set my hand this ___ day of April, 2006.

	 	 	 	 	 	 	 
	 	 	DHM HOLDING COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 

 

 

Page3

          By accepting this certificate, the Administrative Agent acknowledges, on behalf of the
Lenders from time to time party to the Credit Agreement, that the foregoing certification
is rendered solely in the executing party’s capacity as an officer of Holdings, and not in
such person’s individual capacity, and agrees that no claim shall be asserted against the
executing party in his personal capacity arising out of or in connection with the matters
covered by this certificate.

	 	 	 	 	 
	ACKNOWLEDGED:	 	 
	 
	 	 	 	 
	DEUTSCHE BANK AG NEW
YORK BRANCH, 

       as Administrative Agent on behalf of the Lenders	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

 

EXHIBIT J

FORM OF ASSIGNMENT

AND

 ASSUMPTION AGREEMENT1

          This Assignment and Assumption Agreement (this “Assignment”), is dated as of the
Effective Date set forth below and is entered into by and between [the][each] Assignor
identified in item [1][2] below ([the] [each, an] “Assignor”) and [the] [each] Assignee
identified in item 2 below ([the] [each, an] “Assignee”). [It is understood and agreed
that the rights and obligations of such [Assignees][and Assignors] hereunder are several
and not joint.] Capitalized terms used herein but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (as amended, restated,
supplemented and/or otherwise modified from time to time, the “Credit Agreement”). The
Standard Terms and Conditions for Assignment and Assumption Agreement set forth in Annex 1
hereto (the “Standard Terms and Conditions”)are hereby agreed to and incorporated
herein by reference and made a part of this Assignment as if set forth herein in full.

          For an agreed consideration, [the][each] Assignor hereby irrevocably sells and
assigns to [the] [each] Assignee, and [the] [each] Assignee hereby irrevocably purchases
and assumes from [the][each] Assignor, subject to and in accordance with the Standard
Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below, the interest in and to all of [the][each]
Assignor’s rights and obligations under the Credit Agreement and any other documents or
instruments delivered pursuant thereto that represents the amount and percentage interest
identified below of all of the [respective] Assignor’s outstanding rights and obligations
under the respective Tranches identified below (including, to the extent included in any
such Tranches, Letters of Credit, Bank Guarantees and Credit-Linked Deposits) ([the]
[each, an] “Assigned Interest”). [Each] [Such] sale and assignment is without recourse to
[the][any] Assignor and, except as expressly provided in this Assignment, without
representation or warranty by [the][any] Assignor.

	 	 	 	 	 	 	 	 	 
	[1.

	 	Assignor:	 	 	 	 	 	 
	 

	 	 	 	 

	 	 	 	 
	2.

	 	Assignee:
	 	 
 

	 	]2
	 	 

	 	 	 
	[ 1 ][ 3 ]. Credit Agreement:

	 	Credit Agreement, dated as of March
28, 2003, amended and restated as of
April 18, 2005 and further amended
and restated as of April 12, 2006
among DHM Holding Company, Inc.,
a Delaware corporation
(“Holdings”), Dole Holding Company,
LLC,

 

			
	1	 	This Form of Assignment and Assumption Agreement should be used by Lenders
for an assignment to a single Assignee or to funds managed by the same or related
investment managers.
	 
	2	 	If the form is used for a single Assignor and Assignee, items 1 and 2 should
list the Assignor and the Assignee, respectively. In the case of an assignment to
funds managed by the same or related investment managers, or an assignment by
multiple Assignors, the Assignors and the Assignee(s) should be listed in the table
under bracketed item 2 below.

 

 

Page 2

a
Delaware limited liability company, Dole Food Company, Inc., a
Delaware corporation, Solvest, Ltd., a company organized under the
laws of Bermuda, the lenders from time to time party thereto, Banc
of America Securities LLC, as Syndication Agent, The Bank of Nova
Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as
Lead Arranger and Book Runner, and Deutsche Bank AG New York
Branch, as Administrative Agent and Deposit Bank

[2. Assigned Interest:3

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Aggregate Amount of	 	Amount of
	 	 	 	 	 	 	Commitment/Loans/	 	Commitment/Loans/
	 	 	 	 	 	 	Credit-Linked Deposits	 	Credit-Linked Deposits
	 	 	 	 	 	 	(separately broken out,	 	(separately broken out,
	 	 	 	 	 	 	where relevant) under	 	where relevant) under
	 	 	 	 	Tranche	 	Relevant Tranche for all	 	Relevant Tranche
	Assignor	 	Assignee	 	Assigned4	 	Lenders	 	Assigned
	[Name of Assignor]

	 	[Name of Assignee]
	 	 	 	                    
	 	                    
	[Name of Assignor]

	 	[Name of Assignee]
	 	 	 	                    
	 	                    

 

			
	3	 	Insert this chart if this Form of Assignment and Assumption Agreement is being used
for assignments to funds managed by the same or related investment managers or for an
assignment by multiple Assignors. Insert additional rows as needed.
	 
	4	 	For complex multi-tranche assignments a separate chart for each tranche should be used
for ease of reference.

 

 

Page 3

[4. Assigned Interest:5

	 	 	 	 	 
	 	 	 	 	Amount of
	 	 	Aggregate Amount of	 	Commitment/Loans/Credit-
	 	 	Commitment/Loans/	 	Linked Deposits (separately
	 	 	Credit-Linked Deposits (separately	 	broken out, where relevant)
	 	 	broken out, where relevant) under	 	under Relevant Tranche
	Tranche Assigned	 	Relevant Tranche for all Lenders	 	Assigned
	[Insert Relevant Tranche]

	 	$                     
	 	$                     
	[Insert Relevant Tranche]

	 	$                     
	 	$                     

Effective Date       
                 
                 ,
 
                  
 ,         
           .

	 	 	 	    	 	 	 	 	 
	Assignor[s]
Information	 	 	 	Assignee[s]
Information	 	 	 	 
	 
	Payment Instructions:

	 	 	 	Payment Instructions:	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 

	 	Reference:                                             
	 	 	 	Reference:                                             	 	 
	 
	 	 	 	 	 	 	 	 
	Notice Instructions:

	 	 	 	Notice Instructions:	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 

	 	Reference:                                             
	 	 	 	Reference:                                             	 	 

 

			
	5	 	Insert this chart if this Form of Assignment and Assumption Agreement
is being used by a single Assignor for an assignment to a single Assignee.

 

 

Page 4

The terms set forth in this Assignment are hereby agreed to:

	 	 	 	 	 	 	 	 	 	 	 
	ASSIGNOR 
[NAME OF ASSIGNOR]	 	 	 	ASSIGNEE
 [NAME OF ASSIGNEE]6	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Name:
	 	 
	 	 	 	 

Name:
	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 

 

			
	6	 	Add additional signature blocks, as needed, if this Form of Assignment
and Assumption Agreement is being used by funds managed by the same or related
investment managers.

 

 

Page 5

	 	 	 	 	 
	[Consented to and]7 Accepted:	 	 
	 
	 	 	 	 
	DEUTSCHE BANK AG NEW YORK BRANCH, 

     as Administrative Agent	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	[DOLE FOOD COMPANY, INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:] 8	 	 

 

			
	7	 	Insert only if assignment is being made to an Eligible Transferee pursuant to
Section 13.04(b)(y) of the Credit Agreement.
	 
	8	 	Insert only if (i) no Event of Default or Default is then in existence, (ii) the
assignment is being made to an Eligible Transferee pursuant to 13.04(b)(y) of the Credit
Agreement and (iii) assignment is not being made prior to the Syndication Date and as part
of the primary syndication of the Loans and Commitments.

 

 

ANNEX I
TO
EXHIBIT J

DOLE FOOD COMPANY, INC.

SOLVEST, LTD.

CREDIT AGREEMENT

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT

AND ASSUMPTION AGREEMENT

          1. Representations and Warranties.

          1.1. Assignor. [The] [Each] Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of [the] [its] Assigned Interest, (ii) [the] [its] Assigned Interest is
free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and to
consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to
(i) any statements, warranties or representations made in or in connection with any Credit
Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value
of the Credit Agreement, any other Credit Document or any other instrument or document delivered
pursuant thereto (other than this Assignment) or any collateral thereunder, (iii) the financial
condition of Holdings, any of its Subsidiaries or affiliates or any other Person obligated in
respect of any Credit Document or (iv) the performance or observance by Holdings, any of its
Subsidiaries or affiliates or any other Person of any of their respective obligations under any
Credit Document.

          1.2. Assignee. [The] [Each] Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and
to consummate the transactions contemplated hereby and to become a Lender under the Credit
Agreement, (ii) confirms that it is (A) a Lender, (B) a parent company and/or an affiliate of [the]
[an] Assignor which is at least 50% owned by [the] [an] Assignor or its parent company, (C) a fund
that invests in bank loans and is managed by the same investment advisor as a Lender or by an
affiliate of such investment advisor or (D) an Eligible Transferee under Section 13.04(b) of the
Credit Agreement; (iii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement and, to the extent of [the] [its] Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 8.01 thereof, as
applicable, and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and to purchase [the] [its] Assigned
Interest on the basis of which it has made such analysis and decision and (v) if it is organized
under the laws of a jurisdiction outside the United States, it has attached to this Assignment any
tax documentation required to be delivered by it pursuant to the terms of the Credit Agreement,
duly completed and executed by it; (b) agrees that it will, independently and without reliance upon
the Administrative Agent, [the][any] Assignor, or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement; (c) appoints and authorizes each of the
Administrative Agent, the Syndication Agent, the Documentation Agent and the Collateral Agent to
take such action as agent on its

 

 

Page 2

behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as
are delegated to or otherwise conferred upon the Administrative Agent, the Syndication Agent, the
Documentation Agent or the Collateral Agent, as the case may be, by the terms thereof, together
with such powers as are reasonably incidental thereto; and (d) agrees that it will perform in
accordance with their terms all of the obligations which by the terms of the Credit Documents are
required to be performed by it as a Lender.

          2.
Payment. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the] [each] Assigned Interest (including payments of principal, interest,
fees, commissions and other amounts) to [the] [each] Assignor for amounts which have accrued to but
excluding the Effective Date and to [the] [each] Assignee for amounts which have accrued from and
after the Effective Date.

          3. Effect of Assignment. Upon the delivery of a fully executed original hereof to
the Administrative Agent, as of the Effective Date, (i) [the] [each] Assignee shall be a party to
the Credit Agreement and, to the extent provided in this Assignment, have the rights and
obligations of a Lender thereunder and under the other Credit Documents and (ii) [the] [each]
Assignor shall, to the extent provided in this Assignment, relinquish its rights and be released
from its obligations under the Credit Agreement and the other Credit Documents.

          4. General Provisions. This Assignment shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and assigns. This Assignment may be
executed in any number of counterparts, which together shall constitute one instrument. Delivery of
an executed counterpart of a signature page of this Assignment by telecopy shall be effective as
delivery of a manually executed counterpart of the Assignment. THIS ASSIGNMENT SHALL
BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK
(INCLUDING, WITHOUT LIMITATION, SECTION 5.1401 OF THE GENERAL OBLIGATIONS LAW).

*      *      *

 

 

EXHIBIT K 

FORM OF INTERCOMPANY NOTE

[Date]

          FOR VALUE RECEIVED, [NAME OF PAYOR], a [                    ] [TYPE OF ENTITY]
(the “Payor”), hereby promises to pay on demand to the order of [                                        ] or its assigns
(the “Payee”), in [lawful money of the United States of America] [Euros] [Sterling] in immediately
available funds, at such location as the Payee shall from time to time designate, the unpaid
principal amount of all loans and advances made by the Payee to the Payor.

          The Payor promises also to pay interest on the unpaid principal amount hereof in like money
at said office from the date hereof until paid at such rate per annum as shall be agreed upon from
time to time by the Payor and Payee.

          Upon the earlier to occur of (x) the commencement of any bankruptcy, reorganization,
arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or
similar proceeding of any jurisdiction relating to the Payor or (y) any exercise of remedies
(including any acceleration of loans or the termination of the commitments) pursuant to Section 10
of the Credit Agreement referred to below, the unpaid principal amount hereof shall become
immediately due and payable without presentment, demand, protest or notice of any kind in
connection with this Note.

          This Note is one of the Intercompany Notes referred to in the Credit Agreement, dated as of
March 28, 2003, amended and restated as of April 18, 2005 and further amended and restated as of
April 12, 2006, among DHM Holding Company, Inc., Dole Holding Company, LLC, [the Payor,] [the
Payee,] [Dole Food Company, Inc.,] [Solvest, Ltd.,] the lenders from time to time party thereto,
Banc of America Securities LLC, as Syndication Agent, The Bank of Nova Scotia, as Documentation
Agent, Deutsche Bank Securities Inc., as Lead Arranger and Sole Book Runner, and Deutsche Bank AG
New York Branch, as Administrative Agent and Deposit Bank (as so amended and restated and as the
same may be further amended, restated, modified and/or supplemented from time to time, the “Credit
Agreement”, the terms defined therein being used herein as therein defined), and is subject to the
terms thereof[, and shall, except to the extent constituting Excluded Collateral (as defined in
the Credit Agreement), be pledged by the Payee pursuant to the relevant Security Document (as
defined in the Credit Agreement). The Payor hereby acknowledges and agrees that the pledgee or
collateral agent under the relevant Security Document may exercise all rights with respect to this
Note on the terms provided in such Security Document as in effect from time to time].1

          The Payee is hereby authorized (but shall not be required) to record all loans and advances
made by it to the Payor (all of which shall be evidenced by this Note), and all repayments or
prepayments thereof, in its books and records, such books and records constituting prima facie
evidence of the accuracy of the information contained therein.

 

			
	1	 	Insert in each Intercompany Note in which the Payee is a Credit Party (as
defined in the Credit Agreement), unless such Intercompany Note constitutes Excluded
Collateral (as defined in the Credit Agreement).

 

 

Page 2

          This Note, and all of obligations of the Payor hereunder, shall be subordinate and
junior in right of payment to all Senior Indebtedness (as defined in the Intercompany
Subordination Agreement referred to in the Credit Agreement) as, and to the extent
required by, the Intercompany Subordination Agreement.

          All payments under this Note shall be made without offset, counterclaim or deduction
of any kind.

          The Payor hereby waives presentment, demand, protest or notice of any kind in
connection with this Note.

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE
OF NEW YORK.

	 	 	 	 	 	 	 
	 	 	[NAME OF PAYOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

	 	 	 	 	 
	Pay to the order of	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	[NAME OF PAYEE]	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

 

          EXHIBIT L

FORM OF SHAREHOLDER SUBORDINATED NOTE

	 	 	 	 	 	 
	$

	 	 	 	 	New York, New York
 [DATE]
	 

	 

	 	 	 	 

          FOR VALUE RECEIVED, DHM Holding Company, Inc., a Delaware
corporation (the “Company”), hereby promises to pay
to                                          or [his] [her] [its]
assigns (the “Payee”), in lawful money of the United States of America in immediately
available funds, at                      
                   ,

the principal sum of                                          DOLLARS,which amount shall be payable on                      
                   .1

          [The Company promises also to pay interest on the unpaid principal amount hereof in
like money at said office from the date hereof until paid at a rate per annum equal to                    , such
interest to be paid [semi-annually] [annually] on
                    
[
and
                                        ] of each year and at maturity hereof.]

          This Note is subject to voluntary prepayment, in whole or in part, at the option of
the Company, without premium or penalty.

          This Note is one of the Shareholder Subordinated Notes referred in the Credit
Agreement, dated as of March 28, 2003, amended and restated as of April 18, 2005 and
further amended and restated as of April 12, 2006, among the Company, Dole Holding Company,
LLC, a Delaware limited liability company, Dole Food Company, Inc., a Delaware corporation,
Solvest, Ltd., a company organized under the laws of Bermuda, the lenders from time to time
party thereto, Banc of America Securities LLC, as Syndication Agent, The Bank of Nova
Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger and Sole
Book Runner, and Deutsche Bank AG New York Branch, as Administrative Agent and Deposit Bank
(as so amended and restated and as the same may be further amended, modified, supplemented,
extended, restated, refinanced, replaced or refunded from time to time, the “Credit
Agreement”) and shall be subject to the provisions thereof. Unless otherwise defined
herein, all capitalized terms used herein or in Annex A attached hereto and defined in the
Credit Agreement shall have the meaning assigned to such term in the Credit Agreement.

          Notwithstanding anything to the contrary contained in this Note, the Payee understands
and agrees that the Company shall not be required to make, and shall not make, any payment
of principal or interest on this Note to the extent that such payment is prohibited by the
terms of any Senior Indebtedness (as defined in Annex A attached hereto), including, but
not limited to, Sections 9.06 and 9.08 of the Credit Agreement.

 

			
	1	 	Insert a date on or after the date occurring six months after the final
stated maturity of the Existing 2013 Senior Notes.

 

 

Page 2

          This Note, and the obligations of the Company hereunder, shall be subordinate and junior in
right of payment to all Senior Indebtedness (as defined in Section 1.07 of Annex A attached
hereto) on the terms and conditions set forth in Annex A attached hereto, which Annex A is herein
incorporated by reference and made a part hereof as if set forth herein in its entirety.

          The Company hereby waives presentment, demand, protest or notice of any kind in connection
with this Note.

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF
NEW YORK.

	 	 	 	 	 	 	 
	 	 	DHM HOLDING COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

 

 

Annex A
to Exhibit L

          Section 1.01. Subordination of Liabilities. DHM Holding Company, Inc. (the
“Company”), for itself, its successors and assigns, covenants and agrees, and each holder of the
Note to which this Annex A is attached (the “Note”) by its acceptance thereof likewise covenants
and agrees, that the payment of the principal of, interest on, and all other amounts owing in
respect of, the Note (the  “Subordinated Indebtedness”) is hereby expressly subordinated,
to the extent and in the manner hereinafter set forth, to the prior payment in full in cash of all
Senior Indebtedness (as defined in Section 1.07 of this Annex A). The provisions of this Annex A
shall constitute a continuing offer to all persons who, in reliance upon such provisions, become
holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit
of the holders of Senior Indebtedness, and such holders are hereby made obligees hereunder the
same as if their names were written herein as such, and they and/or each of them may proceed to
enforce such provisions.

          Section 1.02. Company Not to Make Payments with Respect to Subordinated Indebtedness in
Certain Circumstances. (a) Upon the maturity of any Senior Indebtedness (including interest
thereon or fees or any other amounts owing in respect thereof), whether at stated maturity, by
acceleration or otherwise, all Obligations (as defined in Section 1.07 of this Annex A) owing in
respect thereof, in each case to the extent due and owing, shall first be paid in full in cash,
before any payment (whether in cash, property, securities or otherwise) is made on account of the
Subordinated Indebtedness.

          (b) Until all Senior Indebtedness has been paid in full in cash and all commitments in
respect of such Senior Indebtedness have been terminated, the sum of all payments in respect of the
Note (including principal and interest), together with the sum of (i) all payments made under all
other Shareholder Subordinated Notes and (ii) all payments made by the Company and its Subsidiaries
to repurchase or redeem Equity Interests of the Company held by directors, officers and employees
of the Company and its Subsidiaries, shall not exceed at any time that amount permitted by the
terms of the respective issue of Senior Indebtedness.

          (c) The Company may not, directly or indirectly, make any payment of any Subordinated
Indebtedness and may not acquire any Subordinated Indebtedness for cash, securities or property
until all Senior Indebtedness has been paid in full in cash if any default or event of default
under the Credit Agreement (as defined in Section 1.07 of this Annex A) or any other issue of
Senior Indebtedness is then in existence or would result therefrom. Each holder of the Note hereby
agrees that, so long as any such default or event of default in respect of any issue of Senior
Indebtedness exists, it will not accelerate, demand, sue for, or otherwise take any action to
enforce the Company’s obligations to pay, amounts owing in respect of the Note. Each holder of the
Note understands and agrees that to the extent that clause (b) of this Section 1.02 reduces the
payment of interest and/or principal which would otherwise be payable under the Note but for the
limitations set forth in such clause (b), such unpaid amount shall not constitute a payment default
under the Note and the holder of the Note may not sue for, or otherwise take action to enforce the
Company’s obligation to pay such amount, provided that such unpaid principal or interest
shall remain an obligation of the Company to the holder of the Note pursuant to the terms of the
Note.

          (d) In the event that notwithstanding the provisions of the preceding sub sections (a), (b)
and (c) of this Section 1.02, the Company shall make any payment on account of the Subordinated
Indebtedness at a time when payment is not permitted by said subsection (a),

 

 

Page 2

(b) or (c), such payment shall be held by the holder of the Note, in trust for the benefit of, and
shall be paid forthwith over and delivered to, the holders of Senior Indebtedness or their
representative or the trustee under the indenture or other agreement pursuant to which any
instruments evidencing any Senior Indebtedness may have been issued, as their respective interests
may appear, for application pro rata to the payment of all Senior Indebtedness (after
giving effect to the relative priorities of such Senior Indebtedness) remaining unpaid to the
extent necessary to pay all Senior Indebtedness in full in accordance with the terms of such
Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the
holders of Senior Indebtedness. Without in any way modifying the provisions of this Annex A or
affecting the subordination effected hereby if the hereafter referenced notice is not given, the
Company shall give the holder of the Note prompt written notice of any event which would prevent
payments under Section 1.02(a), (b) or (c) hereof.

          Section 1.03. Subordination to Prior Payment of All Senior Indebtedness on Dissolution,
Liquidation or Reorganization of Company. Upon any distribution of assets of the Company upon
dissolution, winding up, liquidation or reorganization of the Company (whether in bankruptcy,
insolvency or receivership proceedings or upon an assignment for the benefit of creditors or
otherwise):

     (a) the holders of all Senior Indebtedness shall first be entitled to receive payment
in full in cash of all Senior Indebtedness (including, without limitation, post- petition
interest at the rate (including the default rate) provided in the documentation with respect
to the Senior Indebtedness, whether or not such post-petition interest is an allowed claim
against the debtor in any bankruptcy or similar proceeding) before the holder of the Note is
entitled to receive any payment of any kind or character on account of the Subordinated
Indebtedness;

     (b) any payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities to which the holder of the Note would be entitled
except for the provisions of this Annex A, shall be paid by the liquidating trustee or agent
or other person making such payment or distribution, whether a trustee in bankruptcy, a
receiver or liquidating trustee or other trustee or agent, directly to the holders of Senior
Indebtedness or their representative or representatives, or to the trustee or trustees under
any indenture under which any instruments evidencing any such Senior Indebtedness may have
been issued, to the extent necessary to make payment in full in cash of all Senior
Indebtedness remaining unpaid (after giving effect to the relative priorities of such Senior
Indebtedness), after giving effect to any concurrent payment or distribution to the holders
of such Senior Indebtedness; and

     (c) in the event that, notwithstanding the foregoing provisions of this Section 1.03,
any payment or distribution of assets of the Company of any kind or character, whether in
cash, property or securities, shall be received by the holder of the Note on account of
Subordinated Indebtedness before all Senior Indebtedness is paid in full in cash, such
payment or distribution shall be received and held in trust for and shall be paid over to
the holders of the Senior Indebtedness (after giving effect to the relative priorities of
such Senior Indebtedness) remaining unpaid or unprovided for or their representative or
representatives, or to the trustee or trustees under any indenture under which any

 

 

Page 3

instruments evidencing any of such Senior Indebtedness may have been issued, for
application to the payment of such Senior Indebtedness until all such Senior Indebtedness
shall have been paid in full in cash, after giving effect to any concurrent payment or
distribution to the holders of such Senior Indebtedness.

          Without in any way modifying the provisions of this Annex A or affecting the subordination
effected hereby if the hereafter referenced notice is not given, the Company shall give prompt
written notice to the holder of the Note of any dissolution, winding up, liquidation or
reorganization of the Company (whether in bankruptcy, insolvency or receivership proceedings or
upon assignment for the benefit of creditors or otherwise).

          Section 1.04. Subrogation. Subject to the prior payment in full in cash of all Senior
Indebtedness, the holder of the Note shall be subrogated to the rights of the holders of Senior
Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior
Indebtedness until all amounts owing on the Note shall be paid in full, and for the purpose of such
subrogation no payments or distributions to the holders of the Senior Indebtedness by or on behalf
of the Company or by or on behalf of the holder of the Note by virtue of this Annex A which
otherwise would have been made to the holder of the Note shall, as between the Company, its
creditors other than the holders of Senior Indebtedness, and the holder of the Note, be deemed to
be payment by the Company to or on account of the Senior Indebtedness, it being understood that the
provisions of this Annex A are and are intended solely for the purpose of defining the relative
rights of the holder of the Note, on the one hand, and the holders of the Senior Indebtedness, on
the other hand.

          Section 1.05. Obligation of the Company Unconditional. Nothing contained in this
Annex A or in the Note is intended to or shall impair, as between the Company and the holder of
the Note, the obligation of the Company, which is absolute and unconditional, to pay to the holder
of the Note the principal of and interest on the Note as and when the same shall become due and
payable in accordance with their terms, or is intended to or shall affect the relative rights of
the holder of the Note and creditors of the Company other than the holders of the Senior
Indebtedness, nor shall anything herein or therein prevent the holder of the Note from exercising
all remedies otherwise permitted by applicable law upon an event of default under the Note,
subject to all of the restrictions set forth in this Annex A and the rights, if any, under this
Annex A of the holders of Senior Indebtedness in respect of cash, property, or securities of the
Company received upon the exercise of any such remedy. Upon any distribution of assets of the
Company referred to in this Annex A, the holder of the Note shall be entitled to rely upon any
order or decree made by any court of competent jurisdiction in which such dissolution, winding up,
liquidation or reorganization proceedings are pending, or a certificate of the liquidating trustee
or agent or other person making any distribution to the holder of the Note, for the purpose of
ascertaining the persons entitled to participate in such distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the
amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this
Annex A.

          Section 1.06. Subordination Rights Not Impaired by Acts or Omissions of Company or
Holders of Senior Indebtedness. No right of any present or future holders of any Senior
Indebtedness to enforce subordination as herein provided shall at any time in any way be

 

 

Page 4

prejudiced or impaired by any act or failure to act on the part of the Company or by any act or
failure to act in good faith by any such holder, or by any noncompliance by the Company with the
terms and provisions of the Note, regardless of any knowledge thereof which any such holder may
have or be otherwise charged with. The holders of the Senior Indebtedness may, without in any way
affecting the obligations of the holder of the Note with respect hereto, at any time or from time
to time and in their absolute discretion, change the manner, place or terms of payment of, change
or extend the time of payment of, or renew, increase or otherwise alter, any Senior Indebtedness or
amend, modify or supplement any agreement or instrument governing or evidencing such Senior
Indebtedness or any other document referred to therein, or exercise or refrain from exercising any
other of their rights under the Senior Indebtedness including, without limitation, the waiver of
default thereunder and the release of any collateral securing such Senior Indebtedness, all without
notice to or assent from the holder of the Note.

Section 1.07. Senior Indebtedness. The term “Senior Indebtedness” shall mean
all Obligations (as defined below) (i) of the Company under, or in respect of, the Credit
Agreement, dated as of March 28, 2003, amended and restated as of April 18, 2005 and further
amended and restated as of April 12, 2006 (as so amended and restated and as the same may be
further amended, modified, supplemented, extended, restated, refinanced, replaced or refunded from
time to time, the “Credit Agreement”), among the Company, Dole Holding Company, LLC, a Delaware
limited liability company, Dole Food Company, Inc., a Delaware corporation, Solvest, Ltd., a
company organized under the laws of Bermuda, the lenders from time to
time party thereto, Banc of
America Securities LLC, as Syndication Agent, The Bank of Nova Scotia, as Documentation Agent,
Deutsche Bank Securities Inc., as Lead Arranger and Book Runner, and Deutsche Bank AG New York
Branch, as Administrative Agent and Deposit Bank, and each other Credit Document (as defined in
the Credit Agreement) to which the Company is a party and any renewal, extension, restatement,
refinancing or refunding (in whole or in part) thereof, including, but not limited to, the
Company’s guaranty of any or all of its Relevant Guaranteed Obligations (as defined in the Credit
Agreement), (ii) of the Company under, or in respect of, any Interest Rate Protection Agreements
or Other Hedging Agreements (as each such term is defined in the Credit Agreement) and (iii) of
the Company under the Intermediate Holdco Credit Documents (as defined in the Credit Agreement).
As used herein, the term “Obligation” shall mean any principal, interest, premium, penalties,
fees, expenses, indemnities, reimbursement obligations (including with respect to letters of
credit and bank guaranties) and other liabilities and obligations payable under the documentation
governing any indebtedness (including interest after the commencement of any bankruptcy,
insolvency, receivership or similar proceeding at the relevant rate provided pursuant to the terms
of the respective documentation, whether or not such interest is an allowed claim against the
debtor in any such proceeding).

          Section 1.08. Miscellaneous. If, at any time, all or part of any payment with respect
to Senior Indebtedness theretofore made by the Company or any other Person is rescinded or must
otherwise be returned by the holders of Senior Indebtedness for any reason whatsoever (including,
without limitation, the insolvency, bankruptcy or reorganization of the Company or such other
Persons), the subordination provisions set forth herein shall continue to be effective or be
reinstated, as the case may be, all as though such payment had not been made.

 

 

EXHIBIT M

SPECIAL COLOMBIAN PUT NOTE

	 	 	 
	PROMISSORY NOTE	 	PAGARE
	No.: 01	 	No.: 01
	Date of issuance:	 	Fecha de Emisión:
	Principal:                    	 	Capital:                    
	Maturity Date:                    	 	Fecha de Vencimiento:                    
	 	 	 
	The undersigned, Solvest, Ltd.
(the “Debtor”), a company duly
incorporated and existing under
the laws of Bermuda represented
by [Insert name of Legal
Representative] acting in his
capacity as Legal
Representative duly authorized,
hereby unconditionally and
irrevocably promises to pay to
the order of Deutsche Bank AG
New York Branch, as Collateral
Agent, with offices located at
the address specified in
Exhibit 1 hereto, or to the
order of any endorsee, at the
address of its main offices as
specified in same Exhibit 1, as
amended from time to time, (the
“Note Holder”), on the Maturity
Date, the Principal amount set
forth herein. The Debtor
further agrees to pay to the
Note Holder at its main offices
located as specified in Annex 1:
 (i) the aggregate amount of
the Guaranteed Obligations (as
defined in the Foreign
Subsidiaries Guaranty referred
to in the credit agreement
entered into by the Debtor, DHM
Holding Company, Inc., and Dole
Food Company, Inc. with certain
financial institutions acting
as lenders, agents or
otherwise, dated March 28, 2003
(as amended, modified or
supplemented from time to time,
the “Credit Agreement”)); and
(ii) the stamp tax and any and
all taxes, expenses and duties
that might be caused by the
filling of this promissory note
in any jurisdiction.

The payment of any and all
amounts due hereunder, shall at
all times be fully subordinated
to the payment in full of any
and all amounts due by the
Debtor under the Credit
Agreement. The undersigned
acknowledges that this
promissory note is a “mirror”
promissory note entered into in
compliance with Section 8.24 of
the Credit Agreement.

	 	La suscrita, Solvest, Ltd. (el
“Deudor”), una sociedad debidamente
constituida y existente de
conformidad con las leyes de
Bermuda, representada por [Insert
name of Legal Representative] en su
calidad de Representante Legal
debidamente autorizado(a) para el
efecto, por el presente se obliga
incondicional e irrevocablemente a
pagar a la orden de Deutsche Bank
AG New York Branch, en su calidad
de Agente Colateral, cuyas oficinas
principales se encuentran en la
dirección especificada en el Anexo
1 o a la orden de cualquier
endosatario del presente, en la
dirección de sus oficinas
principales especificada en el
mismo Anexo 1, como sea modificado
de tiempo en tiempo, (el
“Tenedor”), en la Fecha de
Vencimiento, el Capital establecido
en el presente. Así mismo, el
Deudor se obliga a pagar al Tenedor
en las oficinas principales de éste
especificadas en el Anexo 1: (i) el
monto agregado de las Obligaciones
Garantizadas (Guaranteed
Obligations, como éste termino se
define en el documento denominado
Foreign Subsidiaries Guaranty al
que hace referencia el contrato de
crédito celebrado entre el Deudor,
DHM Holding Company, Inc. y Dole
Food Company, Inc. con ciertas
instituciones financieras actuando
como prestamistas, agentes o en
cualquier otra calidad, de fecha
marzo 28 de 2003 (como sea
adicionado, modificado o
suplementado de tiempo en tiempo,
el “Contrato de Crédito”)); y (ii)
el impuesto de timbre y cualquiera
y todos los impuestos, gastos y
cargas que se llegaren a causar por
el diligenciamiento del presente
pagaré en cualquier jurisdiccióin.

El pago de todas las sumas debidas
por el presente, estara en todo
momento totalmente subordinado al
pago total de cualquiera y todas
las sumas debidas por el Deudor
bajo

 

 

EXHIBIT M

Page 2

	 	 	 
	PROMISSORY NOTE	 	PAGARE
	No.: 01	 	No.: 01
	Date of issuance:	 	Fecha de Emisión:
	Principal:                    	 	Capital:                    
	Maturity Date:                    	 	Fecha de Vencimiento:                    
	 	 	 
	In the event of an extension of
terms, substitution or
modification of the obligations
contained herein, the Debtor
hereby accepts that any and all
guaranties and security, if any,
whether personal or otherwise,
granted in support of, or as
collateral for, the obligations
of the Debtor under this
promissory note, will continue to
be valid and enforceable.
Therefore, the Debtor hereby
accepts that such guaranties and
security will be extended to the
new existing obligations in any
of such events. 

The undersigned hereby represents
and warrants that: (i) he acts as
Legal Representative of the
Debtor; (ii) he has full power
and capacity to issue this
promissory note; and (iii) he
waives presentment, demand,
protest and all other notices of
any kind in connection with the
collection or payment of this
promissory note. 

This promissory note constitutes
a negotiable instrument in
Bermuda and New York and shall be
governed by the laws of New York.
In case of contradiction between
the English version and the
Spanish version of this
promissory note, the English
version shall prevail. Any word
beginning with a capital letter
shall correspond to the term
included in the heading of this
promissory note or to the term
defined herein.

	 	el Contrato de Crédito. La suscrita
reconoce que este título valor es un
pagaré “espejo” otorgado de
conformidad con lo dispuesto en la
Sección 8.24 del Contrato de Crédito.

En caso de prórroga, novación o
modificación de las obligaciones
contenidas en el presente, el Deudor
desde ahora acepta expresamente que
continuarán vigentes y existentes
cualquiera y todas las garantías,
reales o personales, o colaterales
otorgados, en caso de existir, para
respaldar y garantizar las
obligaciones del Deudor incorporadas
en este pagaré. Por lo tanto, el
Deudor acepta que dichas garantías y
colaterales se entenderán ampliadas a
las nuevas obligaciones que surgieren
en cualquiera de dichos eventos.

Quien suscribe el presente pagaré
declara y garantiza que: (i) actúa
como Representante Legal del Deudor;
(ii) que tiene autoridad y
autorización suficiente para
suscribir el presente pagaré; y (iii)
excusa al Tenedor de cualquier
presentación, demanda o protesto o
cualquier otra notificación necesaria
para el cobro o el pago del presente
pagaré.

El presente pagaré constituye un
título valor en Bermuda y en el
Estado de Nueva York y estará sujeto
a las leyes del Estado de Nueva York.
En caso de contradicción entre lo
dispuesto aquí en idioma inglés y en
idioma español, prevalecerá lo
dispuesto en idioma inglés. Las
palabras que comiencen con mayúscula
corresponderán a los términos
incluidos en el encabezado del
presente pagaré o a los que se
encuentren expresamente definidos en
el presente.

	 	 	 	 	 
	Solvest, Ltd.	 	 
	 
	 	 	 	 
	By (Por) :	 	 	 
	 

	 	 

	 	 
	Name (Nombre):	 	 

 

 

Page 3

	 	 	 
	PROMISSORY NOTE	 	PAGARE
	No.: 01	 	No.: 01
	Date of issuance:	 	Fecha de Emisión:
	Principal:                    	 	Capital:                    
	Maturity Date:                    	 	Fecha de Vencimiento:                    
	 	 	 
	Title (Cargo):

	 	 

 

 

Page 4

Exhibit 1 (Anexo 1)

Address
of the Note Holders (Dirección de los Tenedores)

Deutsche Bank AG New York Branch, as Collateral Agent

31 West
52nd Street

New York, NY 10036

 

 

Page 5

	 	 	 
	INSTRUCTIONS LETTER TO FILL	 	CARTA DE INSTRUCCIONES PARA
	PROMISSORY NOTE No. 01 DATED	 	DILIGENCIAR EL PAGARE No. 01 DE
	                     	 	FECHA                    
	 	 	 
	Date: March 28, 2003.

	 	Fecha: Marzo 28 de 2003
	 
	 	 
	Messrs.

	 	Señores
	 
	 	 
	a) Deutsche Bank AG New 

York Branch

	 	b) Deutsche Bank AG New York Branch

	 
	 	 
	31 West 52nd Street 

New York, NY 10036
	 	31 West 52nd Street

New York, NY 10036
	 
	 	 
	Dear Messrs:

	 	Estimados Señores:
	 
	 	 
	The undersigned, Solvest, Ltd.
(the “Debtor”), a company duly
incorporated and existing
under the laws of Bermuda,
represented by [Insert name of
Legal Representative] acting
in his capacity as Legal
Representative duly
authorized, hereby impart
irrevocable instructions on
Deutsche Bank AG New York
Branch (“DB”), to fill out,
without previous demand,
presentment, notice or
protest, the blanks of the
promissory note indicated
above (the “Promissory Note”).
DB is hereby authorized to
fill out the blanks at any
moment whenever an Event of
Default (as this term is
defined in the credit
agreement entered into by the
Debtor, DHM Holding Company,
Inc., and Dole Food Company,
Inc. with certain financial
institutions acting as
lenders, agents or otherwise,
dated March 28, 2003, the
“Credit Agreement”) occurs
under the Credit Agreement.
Such blanks must be filled out
as follows:

1. The blank space
corresponding to “Principal”
shall be filled out by DB in
an amount equal to the
aggregate Guaranteed
Obligations (as defined in the
Foreign Subsidiaries
Guaranty referred to in the
Credit Agreement).

2.  The blank space
corresponding to the “Maturity
Date” shall correspond to the

	 	La suscrita, Solvest, Ltd. (el “Deudor”), una
compañía constituida y existente de conformidad
con las leyes de Bermuda, representada por
[Insert name of Legal Representative] en su
calidad de Representante Legal debidamente
autorizado, por medio de la presente a
continuación imparto a Deutsche Bank AG New York
Branch (“DB”) instrucciones irrevocables, para
diligenciar, sin previo aviso, presentación,
noticia o requerimiento alguno, los espacios en
blanco del pagaré arriba especificado (el
“Pagare”). DB queda autorizado para llenar los
espacios en blanco del mismo en cualquier
momento cuandoquiera que ocurra un Caso de
Incumplimiento (Event of Default, como éste
término se encuentra definido en el contrato de
crédito celebrado entre el Deudor, DHM Holding
Company, Inc., y Dole Food Company, Inc., con
ciertas instituciones financieras actuando como
prestamistas, agentes o en cualquier otra
calidad, de fecha Marzo 28 de 2003, en adelante
el “Contrato de Crédito”) bajo el Contrato de
Crédito. Tales espacios en blanco deberán ser
diligenciados así:

1.  El espacio
en blanco correspondiente al
“Capital” sera diligenciado por DB con el
monto que sea igual al monto agregado
de las Obligaciones

 

 

Exhibit M

Page 6

	 	 	 
	INSTRUCTIONS LETTER TO FILL	 	CARTA DE INSTRUCCIONES PARA
	PROMISSORY NOTE No. 01 DATED	 	DILIGENCIAR EL PAGARE No. 01 DE
	                    	 	FECHA                    
	 	 	 
	date in which the Promissory
Note is filled out
according with the
instructions included herein.

DB is hereby fully authorized
to fill the blanks included in
the Promissory Note in
accordance with these
instructions only.

In case of contradiction
between the English version
and the Spanish version of
this letter, the English
version shall prevail. Any
word beginning with a capital
letter, not defined herein,
shall correspond to the term
included in the Promissory
Note.

	 	Garantizadas (Guaranteed
Obligations, como éste
término se define en
el contrato
denominado Foreign
Subsidiaries Guaranty al
que hace referencia el
Contrato de Crédito).

2.  El espacio
en blanco
correspondiente a la “Fecha
de Vencimiento” corresponderá
a la fecha en que
el Pagaré sea
diligenciado conforme a las
instrucciones aquí
contenidas.

DB esta plenamente facultado
para diligenciar el Pagaré
únicamente de acuerdo con
éstas instrucciones.

En caso de contradicción
entre lo dispuesto aquí en
idioma inglés y en idioma
español, prevalecerá lo
dispuesto en idioma inglés.
Las palabras que comiencen
con mayúscula corresponderán
a los términos incluidos en
el Pagaré.

	 	 	 	 	 
	Solvest, Ltd.	 	 
	 
	 	 	 	 
	By (Por) :
	 	 	 	 
	 

	 	 

	 	 
	Name (Nombre):	 	 
	Title (Cargo):	 	 

 

 

EXHIBIT N

[LETTERHEAD OF CORPORATION SERVICE COMPANY]

[Restatement Effective Date]

To the Administrative Agent and the Lenders party to

the Credit Agreement referred to below:

Ladies and Gentlemen:

          Reference is made to (i) the Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005 and further amended and restated as of April 12, 2006, among DHM
Holding Company, Inc., Dole Holding Company, LLC, Dole Food Company, Inc., Solvest, Ltd., the
lenders from time to time party thereto, Banc of America Securities LLC, as Syndication Agent, The
Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc., as Lead Arranger and
Sole Book Runner, and Deutsche Bank AG New York, as Administrative Agent and Deposit Bank (as so
amended and restated and as the same may be further amended, restated, modified and/or
supplemented from time to time, the “Credit Agreement”, the terms defined therein being used
herein as therein defined) and (ii) the Foreign Subsidiaries Guaranty, dated as of March 28, 2003
and amended and restated as of April 12, 2006, made by each Foreign Subsidiary Guarantor (as
further amended, restated, modified and/or supplemented from time to time, the “Foreign
Subsidiaries Guaranty”). Unless otherwise defined herein, capitalized terms used in this
letter shall have the meanings set forth in the Credit Agreement.

          Pursuant to Section 21 of the Foreign Subsidiaries Guaranty, each New Foreign Subsidiary
Guarantor has irrevocably designated, appointed and empowered the undersigned, Corporation Service
Company, with offices currently located at 80 State Street, Albany, NY 12207, as its authorized
designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and in
respect of its property, service of any and all legal process, summons, notices and documents which
may be served in any such action or proceeding brought in the courts of the State of New York or of
the United States of America for the Southern District of New York with respect to the Foreign
Subsidiaries Guaranty and each other Credit Document to which it is a party.

          The undersigned hereby informs you that it irrevocably accepts such appointment as agent as
set forth in Section 21 of the Foreign Subsidiaries Guaranty and agrees with you that the
undersigned (i) shall inform the Administrative Agent promptly in writing of any change of its
address in New York City, (ii) shall perform its obligations as such process agent in accordance
with the provisions of Section 21 of the Foreign Subsidiaries Guaranty and (iii) shall forward
promptly to each New Foreign Subsidiary Guarantor any legal process, summons, notices and
documents received by the undersigned in its capacity as process agent.

 

 

Page 2

          As process agent, the undersigned, and its successor or successors, agree to discharge the
above-mentioned obligations and will not refuse fulfillment of such obligations under Section 21 of
the Foreign Subsidiaries Guaranty.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	CORPORATION SERVICE COMPANY	 	 
	 
	 
	 	By	 	 	 	 
	 

	 	
	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

 

 

EXHIBIT O-1

FORM OF INTERCOMPANY SUBORDINATION

ACKNOWLEDGMENT AND AMENDMENT

April 12, 2006

To the Administrative Agent and each of

the Banks party to the Credit Agreement

referred to below

Ladies and Gentlemen:

          Reference is made to that certain Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005, and further amended and restated as of April 12, 2006 (as amended,
modified, restated and/or supplemented from time to time, the “Credit Agreement”), among
DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding Company, LLC,
a Delaware limited liability company (“Intermediate Holdco”), Dole Food Company, Inc., a
Delaware corporation (the “U.S. Borrower”), Solvest, Ltd., a company organized under the
laws of Bermuda (the “Bermuda Borrower”, and together with the U.S. Borrower, the
“Borrowers”), various financial institutions from time to time party thereto (the
“Lenders”), Deutsche Bank AG New York Branch (in its individual capacity,
(“DBAG”), as Deposit Bank (in such capacity, together with any successor deposit bank, the
“Deposit Bank”) DBAG, as Administrative Agent (in such capacity, together with any
successor agent, the “Administrative Agent”), Banc of America Securities LLC, as
Syndication Agent (in such capacity, together with any successor agent, the “Syndication
Agent”), The Bank of Nova Scotia, as Documentation Agent (in such capacity, together with any
successor agent, the “Documentation Agent”), and Deutsche Bank Securities Inc., as Lead
Arranger and Sole Book Runner (in such capacity, the “Lead Arranger”). Unless otherwise
indicated herein, capitalized terms used but not defined herein shall have the respective meanings
set forth in the Credit Agreement.

I. Intercompany Subordination Acknowledgement.

          1. Each of the Parties hereby acknowledges (x) the Credit Agreement and each other Credit
Documents and the transactions contemplated thereby (including, without limitation, the extensions
of credit contemplated therein) and (y) copies (or originals) of the Credit Documents and all
opinions, instruments, certificates and all other documents delivered in connection therewith, as
in effect on the Restatement Effective Date, have been furnished or otherwise been provided (or
made available) to a senior financial officer of such Foreign Subsidiary Guarantor.

          2. Each of the undersigned Parties hereby acknowledges and agrees, and represents and
warrants, that on and after the occurrence of, and after giving effect to, the Restatement
Effective Date (i) it constitutes a Party (as defined in the Intercompany Subordination
Agreement) which is a party to the Intercompany Subordination Agreement, (ii) the Intercompany
Subordination Agreement shall remain in full force and effect with respect to such Party and (iii)
the Credit Agreement and the Obligations under the Credit Agreement shall

 

 

Page 2

constitute the “Credit Agreement” and the “Credit Document Obligations,” respectively, in each
case, under and as defined in, the Intercompany Subordination Agreement and shall continue to be
entitled to the benefits of the Intercompany Subordination Agreement. Each of the undersigned
Assignors hereby makes each of the representations and warranties contained in the Intercompany
Subordination Agreement on the Restatement Effective Date, both before and after giving effect to
this Acknowledgement and Amendment.

II. Intercompany Subordination Amendment.

          The Administrative Agent (for and on behalf of, and at the direction of, the Required Lenders
under the Credit Agreement) and each of the undersigned Parties hereby agree to amend the
Intercompany Subordination Agreement as follows:

          1. The second recital is hereby amended by (i) deleting it in its entirety and (ii) inserting
the following second recital in lieu thereof:

     “WHEREAS, each Borrower and/or one or more of their respective
Subsidiaries may at any time and from time to time enter into one or
more Interest Rate Protection Agreements or Other Hedging Agreements
with one or more Secured Hedge Counterparties (collectively, the
“Secured Creditors”);”

          2. The sixth recital is hereby amended by (i) deleting the amount of “$400,000,000” appearing
therein and (ii) inserting the amount of “$350,000,000” in lieu thereof.

          3. The seventh recital is hereby amended by deleting the parenthetical “(as supplemented by
the relevant Existing Senior Notes Indenture Supplement)” appearing therein.

          4. The eighth recital is hereby amended by deleting the text “and, together with the Existing
2009 Senior Noteholders, the ‘Existing Senior Noteholders‘” appearing in the parenthetical
thereto.

          5. The ninth recital is hereby amended by deleting the parenthetical “(as supplemented by the
relevant Existing Senior Notes Indenture Supplement)” appearing therein.

          6. The tenth, eleventh, twelfth and thirteenth recitals are hereby amended by (i) deleting
them in their entirety and (ii) inserting the following tenth, eleventh, twelfth and thirteenth
recitals in lieu thereof:

     “WHEREAS, the U.S. Borrower has, prior to the date hereof,
issued the Existing 2011 Senior Notes in aggregate principal amount
of $200,000,000 (with the holders from time to time of such Existing
2011 Senior Notes being herein called the “Existing 2011 Senior
Noteholders”) pursuant to the Existing 2011 Senior Notes
Indenture;

     “WHEREAS, certain U.S. Subsidiary Guarantors have

 

 

Page 2

guaranteed the repayment in full of the Existing 2011 Senior Notes
pursuant to the Existing 2011 Senior Notes Documents.

     “WHEREAS, the U.S. Borrower has, prior to the date hereof,
issued the Existing 2010 Senior Notes in aggregate principal amount
of $400,000,000 (with holders from time to time of such Existing
2010 Senior Notes being herein called the “Existing 2010 Senior
Noteholders” and, together with the Existing 2009 Senior
Noteholders, the Existing 2013 Senior Noteholders and the Existing
2011 Senior Noteholders, the “Existing Senior Noteholders”)
pursuant to the Existing 2010 Senior Notes Indenture;

     “WHEREAS, certain U.S. Subsidiary Guarantors have guaranteed
the repayment in full of the Existing 2010 Senior Notes pursuant to
the Existing 2010 Senior Notes Documents.”

          7. There fifteenth recital is hereby amended by deleting the text “, the New 2010 Senior Notes
Documents and the New Senior Notes Documents” appearing therein.

          8. The definition of “Senior Creditors” is hereby amended by (i) deleting text “, the
New Senior Noteholders and the New 2010 Senior Noteholders” appearing therein and (ii) inserting
the word “and” in lieu of the text “,” appearing after “the Hedging Creditors”.

          9. The definition of “Senior Indebtedness” is hereby amended by (i) deleting clauses
(v) and (vi) appearing therein and (ii) inserting the following clauses (v) and (vi) in lieu
thereof:

     “(v) all Obligations (including Obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would
become due) and liabilities of each U.S. Credit Party to the
Existing 2011 Senior Noteholders, now existing or hereafter incurred
under, arising out of or in connection with any Existing 2011 Senior
Notes Documents (including, without limitation, all such obligations
and liabilities under any guarantees relating thereto) and the due
performance and compliance by each U.S. Credit Party with the terms
of each such Existing 2011 Senior Notes Documents (all such
obligations and liabilities under this clause (v) being herein
collectively called the “Existing 2011 Senior Note
Obligations”);

     “(vi) all Obligations (including Obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would
become due) and liabilities of each U.S. Credit Party to the
Existing 2010 Senior Noteholders, now existing or hereafter incurred
under, arising out of or in connection with any Existing 2010 Senior
Notes Documents (including, without limitation, all

 

 

Page 2

such obligations and liabilities under any guarantees relating
thereto) and the due performance and compliance by each U.S. Credit
Party with the terms of each such Existing 2010 Senior Notes
Documents (all such obligations and liabilities under this clause
(vi) being herein collectively called the “Existing 2011 Senior
Note Obligations”);”

III. Miscellaneous

          1. (a. THIS ACKNOWLEDGEMENT AND AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK. Any legal action or proceeding with respect to this
Acknowledgment and Amendment may be brought in the courts of the State of New York or of the
United States of America for the Southern District of New York, in each case located within the
City of New York, and, by execution and delivery of this Acknowledgment and Amendment, each Party
hereby irrevocably accepts for itself and in respect of its property, generally and
unconditionally, the jurisdiction of the aforesaid courts. Each Party hereby irrevocably
designates, appoints and empowers Corporation Service Company, with offices on the date hereof at
80 State Street, Albany, NY 12207, as its designee, appointee and agent to receive, accept and
acknowledge for and on its behalf, and in respect of its property, service of any and all legal
process, summons, notices and documents which may be served in any such action or proceeding. If
for any reason such designee, appointee and agent shall cease to be available to act as such, each
Party agrees to designate a new designee, appointee and agent in New York City on the terms and
for the purposes of this provision reasonably satisfactory to the Administrative Agent under the
Credit Agreement. Each Party hereby further irrevocably waives any claim that any such courts lack
jurisdiction over such Party, and agrees not to plead or claim, in any legal action or proceeding
with respect to this Acknowledgment and Amendment brought in any of the aforesaid courts, that any
such court lacks jurisdiction over such Party. Each Party further irrevocably consents to the
service of process out of any of the aforementioned courts in any such action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to each Party at its
address set forth opposite its signature below, such service to become effective 30 days after
such mailing. Each Party hereby irrevocably waives any objection to such service of process and
further irrevocably waives and agrees not to plead or claim in any action or proceeding commenced
hereunder that such service of process was in any way invalid or ineffective. Nothing herein shall
affect the right of any Secured Creditor to serve process in any other manner permitted by law or
to commence legal proceedings or otherwise proceed against any Party in any other jurisdiction.

          (b. Each Party hereby irrevocably waives any objection which it may now or hereafter have to
the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection
with this Acknowledgment and Amendment brought in the courts referred to in clause (a) above and
hereby further irrevocably waives and agrees not to plead or claim in any such court that any such
action or proceeding brought in any such court has been brought in an inconvenient forum, or that
the choice of law provisions are invalid or unenforceable and agrees not to plead or claim before
any authority or court, including the courts of its state of incorporation or formation, that any
judgment issued by the courts referred to in clause (a) above is contrary to public policy (except,
with respect to any Japanese Guarantor, to the extent that the

 

 

Page 2

terms of such judgment issued by the courts referred to in clause (a) above and its formation
process are deemed, in accordance with the provisions of Article 118 of the Code of Civil
Procedures (Law No. 109 of 1996), as contrary to the public order or good morals of Japan).

          (c. EACH PARTY AND EACH SECURED CREDITOR (BY ITS ACCEPTANCE OF THE BENEFITS OF THIS
ACKNOWLEDGMENT AND AMENDMENT) HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS ACKNOWLEDGMENT AND AMENDMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.

          (d) NOTWITHSTANDING ANYTHING IN THIS ACKNOWLEDGMENT AND AGREEMENT TO THE CONTRARY, AND WITH
RESPECT ONLY TO THE COLOMBIAN GUARANTORS, IN THE EVENT THE ADMINISTRATIVE AGENT OR ANY OF THE
SECURED CREDITORS ELECTS TO ENFORCE THIS ACKNOWLEDGMENT AGAINST ANY COLOMBIAN GUARANTOR IN A
COLOMBIAN COURT AS PROVIDED BELOW, THE GUARANTEE OF THE COLOMBIAN GUARANTORS PURSUANT TO THIS
ACKNOWLEDGMENT AND AMENDMENT AND THE RIGHTS OF THE SECURED CREDITORS AS AGAINST THE COLOMBIAN
GUARANTORS SHALL BE (AND SHALL BE DEEMED TO BE) GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF COLOMBIA. Any legal action or proceeding with respect to a Colombian Guarantor in
connection with this Acknowledgment and Amendment may be brought in the competent courts of
Colombia.

          2. This Acknowledgment and Amendment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which when so executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
set of counterparts executed by all the parties hereto shall be lodged with Holdings and the
Administrative Agent.

*     *     *

 

 

Page 3

     IN WITNESS WHEREOF, the parties hereto have caused this Intercompany Subordination
Acknowledgement to be executed and delivered by their duly authorized officers as of the date first
above written.

	 	 	 	 	 
	 	 	 	 	DHM HOLDING COMPANY, INC.

	 	 	 	 	DOLE HOLDING COMPANY, LLC

	 	 	 	 	DOLE FOOD COMPANY, INC.

	 	 	 	 	SOLVEST, LTD.

	 	 	 	 	CALAZO CORPORATION

	 	 	 	 	AG 1970, INC.

	 	 	 	 	AG 1971, INC.

	 	 	 	 	AG 1972, INC.

	 	 	 	 	ALYSSUM CORPORATION

	 	 	 	 	BARCLAY HOLLANDER CORPORATION

	 	 	 	 	BUD ANTLE, INC.

	 	 	 	 	CALICAHOMES, INC.

	 	 	 	 	CALIFORNIA POLARIS, INC.

	 	 	 	 	DOLE ABPIK, INC.

	 	 	 	 	DOLE ARIZONA DRIED FRUIT AND NUT COMPANY

	 	 	 	 	DOLE CARROT COMPANY

	 	 	 	 	DOLE CITRUS

	 	 	 	 	DOLE DF&N, INC. Title:

	 	 	 	 	DOLE DRIED FRUIT AND NUT COMPANY, A CALIFORNIA GENERAL PARTNERSHIP

	 	 	 	 	DOLE FARMING, INC.

	 	 	 	 	DOLE FRESH VEGETABLES, INC.

	 	 	 	 	DOLE ORLAND, INC.

	 	 	 	 	DOLE VISAGE, INC.

	 	 	 	 	E. T. WALL COMPANY

	 	 	 	 	EARLIBEST ORANGE ASSOCIATION, INC.

	 	 	 	 	FALLBROOK CITRUS COMPANY, INC.

	 	 	 	 	LINDERO HEADQUARTERS COMPANY, INC.

	 	 	 	 	LINDERO PROPERTY, INC.

	 	 	 	 	OCEANVIEW PRODUCE COMPANY

	 	 	 	 	PRAIRIE VISTA, INC.

	 	 	 	 	ROYAL PACKING CO.

	 	 	 	 	VELTMAN TERMINAL CO.

	 	 	 	 	BANANERA ANTILLANA (COLOMBIA), INC.

	 	 	 	 	CLOVIS CITRUS ASSOCIATION

	 	 	 	 	DELPHINIUM CORPORATION

	 	 	 	 	DOLE EUROPE COMPANY

	 	 	 	 	DOLE FOODS FLIGHT OPERATIONS, INC.

	 	 	 	 	DOLE FRESH FLOWERS, INC.

	 	 	 	 	DOLE NORTHWEST, INC.

	 	 	 	 	DOLE SUNFRESH EXPRESS, INC.

 

 

Page 4

	 	 	 	 	 
	 	 	 	 	STANDARD FRUIT AND STEAMSHIP COMPANY

	 	 	 	 	STANDARD FRUIT COMPANY

	 	 	 	 	SUN COUNTRY PRODUCE, INC.

	 	 	 	 	WEST FOODS, INC.

	 	 	 	 	COOL ADVANTAGE, INC.

	 	 	 	 	COOL CARE, INC.

	 	 	 	 	FLOWERNET, INC.

	 	 	 	 	SAW GRASS TRANSPORT, INC.

	 	 	 	 	BLUE ANTHURIUM, INC.

	 	 	 	 	CERULEAN, INC.

	 	 	 	 	DOLE DIVERSIFIED, INC.

	 	 	 	 	DOLE LAND COMPANY, INC.

	 	 	 	 	DOLE PACKAGED FOODS CORPORATION

	 	 	 	 	LA PETITE D’AGEN, INC.

	 	 	 	 	M K DEVELOPMENT, INC.

	 	 	 	 	MALAGA COMPANY, INC.

	 	 	 	 	MUSCAT, INC.

	 	 	 	 	OAHU TRANSPORT COMPANY, LIMITED

	 	 	 	 	WAHIAWA WATER COMPANY, INC.

	 	 	 	 	WAIALUA SUGAR COMPANY, INC.

	 	 	 	 	ZANTE CURRANT, INC.

	 	 	 	 	DIVERSIFIED IMPORTS CO.

	 	 	 	 	DOLE ASSETS, INC.

	 	 	 	 	DOLE FRESH FRUIT COMPANY

	 	 	 	 	DOLE HOLDINGS, INC.

	 	 	 	 	DOLE LOGISTICS SERVICES, INC.

	 	 	 	 	DOLE OCEAN CARGO EXPRESS, INC.

	 	 	 	 	DOLE OCEAN LINER EXPRESS, INC.

	 	 	 	 	RENAISSANCE CAPITAL CORPORATION

	 	 	 	 	SUN GIANT, INC.

	 	 	 	 	DNW SERVICES COMPANY

	 	 	 	 	PACIFIC COAST TRUCK COMPANY

	 	 	 	 	PAN-ALASKA FISHERIES, INC.

	 	 	 	 	THE IKON CORPORATION

	 	 	 	 	DOLE PACKAGED FROZEN FOODS, INC.

	 	 	 	 	DOLE BERRY COMPANY, LLC

	 	 	 	 	MILAGRO RANCH, LLC

	 	 	 	 	RANCHO MANANA LLC

	 	 	 	 	CB NORTH, LLC

	 	 	 	 	CB SOUTH, LLC

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

 

 

Page 5

	 	 	 	 	 
	 	COUNTY LINE MUTUAL WATER COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 6

	 	 	 	 	 
	 	MIRADERO FISHING CO., INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 7

	 	 	 	 	 
	 	STANDARD FRUIT, S.A. (ARGENTINA)

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE PACIFIC GENERAL SERVICES, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRANSTRADING OVERSEAS, LTD

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VERENIGDE BANANEN HANDELAREN N.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGOURA LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 8

	 	 	 	 	 
	 	ASHFORD COMPANY, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BALTIME LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CAMARILLO, LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 9

	 	 	 	 	 
	 	DOLE ASIA, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FOREIGN HOLDINGS, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE INTERNATIONAL, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 10

	 	 	 	 	 
	 	DOLE NEW ZEALAND LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INTERFRUIT COMPANY, LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MAHELE, LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 11

	 	 	 	 	 
	 	MENDOCINO LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	REFERSHIP MARINE SERVICES, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORAMERICA INVESTMENTS LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 12

	 	 	 	 	 
	 	SOLAMERICA, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT COMPANY (BERMUDA) LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE BRASIL, LTDA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANAPLUS INCORPORATED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 13

	 	 	 	 	 
	 	NEWENT TRADING, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NOIR VENTURES CORP. NEWENT TRADING, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NORWICK TECHNOLOGIES CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	OPAL RESOURCES, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	RIVERWOOD MANAGEMENT COMPANY INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 14

	 	 	 	 	 
	 	ALTALANOS TECHNOLOGY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BLUEWATER INDUSTRIES LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BOGOR CAPITAL LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BROOK INVESTMENT LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CARDANZ TECHNOLOGIES CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JOROKO INTERTRADE LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 15

	 	 	 	 	 
	 	ASPEN INTERNATIONAL, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES COMERTEX, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LIVERPOOL INTERNATIONAL, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MARSELLA INTERNATIONAL, CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MILANO TRADING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 16

	 	 	 	 	 
	 	MONACO INVESTMENT CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	POLAR TRADING CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FOODS OF CANADA LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA CALIFORNIA LIMITADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA PENCAHUE LIMITADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 17

	 	 	 	 	 
	 	AGRICOLA PUNITAQUI LIMITADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA RAUQUEN LIMITADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CARTONES SAN FERNANDO S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE CHILE S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE THOMSEN S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 18

	 	 	 	 	 
	 	EMBALAJES STANDARD S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES DEL PACIFICO S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SHANGHAI DOLE FOOD CO., LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	QINGDAO DOLE FOOD CO., LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA EUFEMIA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 19

	 	 	 	 	 
	 	AGROPECUARIA SAN GABRIEL LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROPECUARIA SAN PEDRO LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA EXPORTADORA DE PRODUCTOS AGRICOLAS S.C.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES ORIHUECA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 20

	 	 	 	 	 
	 	SERVICIOS TECNICOS BANANEROS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. AGRICOLA EL CASTILLO LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. AGRICOLA GUACARI LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AMERICAFLOR LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. COLOMBIAN CARNATIONS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 21

	 	 	 	 	 
	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. CULTIVOS DEL CARIBE LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. CULTIVOS SAN NICOLAS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORAMERICA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES ALTAMIRA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 22

	 	 	 	 	 
	 	C.I. FLORES DE EXPORTACION LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES LA FRAGANCIA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES LAS PALMAS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. FLORES PRIMAVERA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORES SAN JOAQUIN LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 23

	 	 	 	 	 
	 	C.I. JARDINES DE COLOMBIA LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. JARDINES DEL VALLE LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. OLYMPIA FLOWERS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. PORCELAIN FLOWERS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	C.I. SANTA MONICA FLOWERS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 24

	 	 	 	 	 
	 	C.I. SPLENDOR FLOWERS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TENICAS BALTIME DE COLOMBIA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AERO-FUMIGACION CENTROAMERICANA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROINDUSTRIAL PINAS DEL BOSQUE S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROPECUARIA RIO JIMENEZ S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Page 25

	 	 	 	 	 
	 	ALMACENES ATALANTA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALPPHA SIDERAL S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANERA EL PORVENIR S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANERA LA PAZ, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA BANANERA DEBA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 26

	 	 	 	 	 
	 	COMPANIA BANANERA DEL SAN

RAFAEL S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA BANANERA EL ENCANTO S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA FINANCIERA DE COSTA RICA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA FRUTOS DE LA TIERRA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERCIALIZADORA E IMPORTADORA VINA DEL MAR S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 27

	 	 	 	 	 
	 	DESARROLLO BANANERO LA ESPERANZA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DESARROLLO MELONERO DEL GOLFO, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DIVERSIFICADOS DE COSTA RICA DICORI, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ESTIBADORES GOLFITENOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ESTIBADORES DEL TROPICO, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 28

	 	 	 	 	 
	 	HACIENDA LA ROSALIA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA PERLA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ROXANA FARMS S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS ADUANALES BANADOLE, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT COMPANY DE COSTA RICA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 29

	 	 	 	 	 
	 	DOLE SHARED SERVICES LIMITADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA)

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANACORP S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANCUBER S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BRUNETTI S.A

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 30

	 	 	 	 	 
	 	COMPANIA NAVIERA AGMARESA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRIOCONT S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRUTBAN S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRANELCONT S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GUAYAMI S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 31

	 	 	 	 	 
	 	MEGABANANA S.A

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MODUMOLL S.A

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NAPORTEC S.A

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRODUCTOS DEL LITORAL S.A. 
(PROLISA)
 
	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	REDAMAWAL S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 32

	 	 	 	 	 
	 	SIEMBRANUEVA S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORES MITAD DEL MUNDO LTDA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TALLAN, TALLERES Y LLANTAS S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TECNIELEC TECNICOS Y ELECTRICITAS S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PORMAR TRANSPORTES POR MAR S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 33

	 	 	 	 	 
	 	UBESAIR, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	UNION DE BANANEROS ECUATORIANOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERCIAL INDUSTRIAL ECUATORIANA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRODUCTORA CARTONERA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ZANPOTI, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

Page 34

	 	 	 	 	 
	 	TINADI S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROVERDE S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A. (SAPICA)

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BETINO S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PEMATIN S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 35

	 	 	 	 	 
	 	PESCASEROLI S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PROPOLISA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE EUROPE SAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRANCE SAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE PACKAGED FOODS EUROPE SAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 36

	 	 	 	 	 
	 	SOLEIL HOLDING FRANCE SA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE DEUTSCHLAND BETEILIGUNGSGESELLSCHAFT MBH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE DEUTSCHLAND GMBH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT EUROPE OHG

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PAUL KEMPOWSKI GMBH & CO. KG

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 37

	 	 	 	 	 
	 	DOLE FRESH FRUIT HELLAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ENERGUA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS TECNICIOS PORTUARIOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT DE GUATEMALA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGRICOLA SANTA INES, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 38

	 	 	 	 	 
	 	AGROINDUSTRIA DEL CARIBE, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGROINDUSTRIAL ALMA VERDE, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BANANERA RIO MAME, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BIENES Y SERVICIOS S DE R L DE CV

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BIENES Y VALORES, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 39

	 	 	 	 	 
	 	COMPANIA AGRICOLA EL PROGRESO, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGRICOLA INDUSTRIAL
CEIBENA, SA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGRICOLA MAZAPAN, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA AGROPECUARIA EL PORVENIR, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CLINICAS MEDICAS DEL AGUAN, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 40

	 	 	 	 	 
	 	COORDINADORA DE SERVICIOS DE
TRANSPORTE, SA
 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DESARROLLOS URBANOS LA CEIBA,
S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ENERGUA S.A. SUCURSAL HONDURAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	EQUIPO PESADO S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 41

	 	 	 	 	 
	 	FABRICA DE MANTECA & JABON ATLANTIDA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HOSPITAL COYOLES, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMPANIA INVERSIONES MEDICAS NACIONALE S.A.
 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES Y VALORES DE MONTECRISTO, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LABORATORIOS Y SERVICIOS DE MERISTEMOS, S.A.
 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 42

	 	 	 	 	 
	 	MANUFACTURAS DE CARTON, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MULTISERVICIOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PINA ANTILLANA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PLASTICOS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRODUCTORA AGRICOLA DE ATLANTIDA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

Page 43

	 	 	 	 	 
	 	SERVICIOS E INVESTIGACIONES AEREAS, SA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS HONDURENOS DE
AGRICULTURA
 Y RECURSOS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SOGAS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	STANDARD FRUIT DE HONDURAS, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VIGILANCIA Y SEGIRIDAD, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 44

	 	 	 	 	 
	 	CASTLE & COOKE WORLDWIDE LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE CHINA LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE HONG KONG LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 45

	 	 	 	 	 
	 	DOLE ITALIA S.P.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRATELLI ISELLA S.r.l.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA FIORITA S.r.l.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MAGAZZINI FRIGORIFERI SANTA
PALOMBA S.P.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TROPICAL SHIPPING ITALIANA, T.S.I. S.P.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 46

	 	 	 	 	 
	 	KABUSHIKI KAISHA DOLE

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DFC FOODS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE KOREA, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT INTERNATIONAL LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 47

	 	 	 	 	 
	 	TROPICAL NAVIGATION (MALTA) LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE SHANGHAI CO., LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERCIALIZACIONES SUNMEX MEXICANA, S.A. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MEXICOTEC, S.A. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FLORES LUCITANIA, S. DE R.L. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 48

	 	 	 	 	 
	 	DOLE EUROPE BV

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE HOLLAND BV

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INTEROCEAN FINANCIAL MANAGEMENT CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONISTA FORTUNA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONISTA ZARATI, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 49

	 	 	 	 	 
	 	BENVUE INTERNATIONAL, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BLOCK INVESTMENTS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE AVIATION, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT INTERNATIONAL, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	OPERACIONES TROPICALES, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 50

	 	 	 	 	 
	 	PRELL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SINGLE TREE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERCIAL AGROFLOR, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DELTA TREE ENTERPRISES, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 51

	 	 	 	 	 
	 	FLOWER INTERNATIONAL, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GALANA INTERNACIONAL, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	IMPORTADORA Y EXPORTADORA NOPAL, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 52

	 	 	 	 	 
	 	IMPORTADORA Y EXPORTADORA ROVEGO, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES CROWN, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES FLORICOLA S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 53

	 	 	 	 	 
	 	NICOLLE INTERNATIONAL, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PEYTON FLOWERS, S. DE R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRIPLEJAY INVESTMENT CORP., S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 54

	 	 	 	 	 
	 	COPDEBAN S.A.C.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE PHILIPPINES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE POLAND SP. ZO.O.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE SOUTH AFRICA LTD

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FRUIT CARE SERVICES

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 55

	 	 	 	 	 
	 	DOLE COMERCIALIZATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FOOD ESPANA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VIUDA DE SABATE

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THAI AMERICAN FOOD CO., LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE FRESH FRUIT MED GIDA URUNLERI TICARET VE A.S.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 56

	 	 	 	 	 
	 	DOLE U.K. LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DOLE DE VENEZUELA, C.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES AGRICA, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVERSIONES DEL AGRO, C.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	VENTURA TRADING LTD.,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 57

	 	 	 	 	 
	 	INTERVEST, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 58

	 	 	 	 	 
	 	DOLE FOODS OF CANADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 59

	 	 	 	 	 
	 	DOLE ASIA, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 60

	 	 	 	 	 
	 	APACHE GROVE LAND, 1970 LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	APACHE GROVE LAND, 1971 LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	APACHE GROVE LAND, 1972 LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Page 61

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	Scottye D. Lindsey  	 
	 	 	Title:  	Director 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT O-2

[COMPOSITE COPY (INCORPORATING THE

FIRST AMENDMENT DATED AS OF MAY 29, 2003)

CONFORMED AS EXECUTED]1

INTERCOMPANY SUBORDINATION AGREEMENT

          THIS SUBORDINATION AGREEMENT (as amended, modified, restated and/or supplemented from time to
time, this “Agreement”), dated as of March 28, 2003, made by each of the undersigned (each, a
“Party” and, together with any entity that becomes a party to this Agreement pursuant to Section 9
hereof, the “Parties”) and Deutsche Bank AG New York Branch, as collateral agent (in such
capacity, together with any successor agent, the “Collateral Agent”), for the benefit of
the Senior Creditors (as defined below). Unless otherwise defined herein, all capitalized terms
used herein shall have the meanings ascribed to them in the Credit Agreement referred to below.

W
I T  N E S S E
T H:

          WHEREAS,
DHM Holding Company, Inc. (“Holdings”), Dole Food Company, Inc. (the “U.S.
Borrower”), Solvest, Ltd. (the “Bermuda Borrower”, and together with the U.S. Borrower, the
“Borrowers”), various financial institutions from time to time party thereto (the “Lenders”),
Deutsche Bank AG New York Branch, as Administrative Agent (in such capacity, together with any
successor agent, the “Administrative Agent”), The
Bank of Nova Scotia and Banc of America
Securities LLC, as Co-Syndication Agents (in such capacity, together with any successor agent, the
“Co-Syndication Agents”), Fleet National Bank and Societe Generale, as Co-Documentation Agents (in
such capacity, together with any successor agent, the “Co-Documentation Agents”), and Deutsche Bank
Securities Inc., The Bank of Nova Scotia and Banc of America Securities LLC, as Joint Lead
Arrangers and Book Runners (in such capacity, the “Joint Lead Arrangers” and, together with
the Lenders, each Issuing Lender, each Bank Guaranty Issuer, the Administrative Agent, each
Co-Syndication Agent, each Co-Documentation Agent and the Collateral Agent, collectively, the
“Lender Creditors”) have entered into a Credit Agreement, dated as of March 28, 2003, providing for
the making of Loans to the Borrowers, the issuance of, and participation in, Letters of Credit for
the respective accounts of the Borrowers and the issuance of, and participation in, Bank Guaranties
for the account of the Bermuda Borrower, all as contemplated therein (as used herein, the term
“Credit Agreement” means the Credit Agreement described above in this paragraph, as the
same may be amended, modified, extended, renewed, replaced, restated, supplemented or refinanced
from time to time, and including any agreement extending the maturity of, or refinancing or
restructuring (including, but not limited to, the inclusion of additional borrowers or guarantors
thereunder or any increase in the amount borrowed) all or any portion of, the indebtedness under
such agreement or any successor agreement, whether or not with the same agent, trustee,
representative, lenders or holders; provided that, with respect to any agreement providing
for the refinancing or replacement of indebtedness under the Credit Agreement, such agreement shall
only be treated as, or as part of, the Credit Agreement hereunder if (i) either (A) all obligations
under the Credit Agreement being refinanced or replaced shall be paid in full at the time of such
refinancing or replacement, and all Commitments, Letters of Credit and Bank Guaranties issued
pursuant to the refinanced or replaced Credit Agreement shall have terminated in accordance with
their terms or (B) the Required Lenders shall have consented in writing to the refinancing or
replacement indebtedness

 

			
	1	 	This composite copy is to be used for reference purposes only; the definitive
agreements with respect to the Intercompany Subordination Agreement are set forth in the
originally executed Intercompany Subordination Agreement and the First Amendment thereto.

 

 

being treated as indebtedness pursuant to the Credit Agreement, and (ii) a notice to the effect
that the refinancing or replacement indebtedness shall be treated as issued under the Credit
Agreement shall be delivered by the U.S. Borrower to the Collateral Agent);

          WHEREAS, each Borrower and/or one or more of their respective Subsidiaries may at any time
and from time to time enter into one or more Interest Rate Protection Agreements or Other Hedging
Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even
if the respective Lender subsequently ceases to be a Lender under the Credit Agreement for any
reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively,
the “Hedging Creditors”);

          WHEREAS, pursuant to the Holdings Guaranty, Holdings has guaranteed to the Secured Creditors
the payment when due of all Holdings Guaranteed Obligations;

          WHEREAS, pursuant to the U.S. Borrower’s Guaranty, the U.S. Borrower has guaranteed to the
Secured Creditors the payment when due of all U.S. Borrower Guaranteed Obligations;

          WHEREAS, pursuant to the U.S. Subsidiaries Guaranty, each U.S. Subsidiary Guarantor has
jointly and severally guaranteed to the Secured Creditors the payment when due of all Guaranteed
Obligations (as defined in the U.S. Subsidiaries Guaranty);

          WHEREAS, the U.S. Borrower has, prior to the date hereof, issued the Existing 2009 Senior
Notes in aggregate principal amount of $400,000,000 (with the holders from time to time of such
Existing 2009 Senior Notes being herein called the “Existing 2009 Senior Noteholders”)
pursuant to the Existing 2009 Senior Notes Indenture;

          WHEREAS, certain U.S. Subsidiary Guarantors have guaranteed the repayment in full of the
Existing 2009 Senior Notes pursuant to the Existing 2009 Senior Notes Documents (as supplemented
by the relevant Existing Senior Notes Indenture Supplement);

          WHEREAS, the U.S. Borrower has, prior to the date hereof, issued the Existing 2013 Senior
Notes in aggregate principal amount of $155,000,000 (with the holders from time to time of such
Existing 2013 Senior Notes being herein called the “Existing 2013 Senior Noteholders” and,
together with the Existing 2009 Senior Noteholders, the “Existing Senior Noteholders”)
pursuant to the Existing 2013 Senior Notes Indenture;

          WHEREAS, certain U.S. Subsidiary Guarantors have guaranteed the repayment in full of the
Existing 2013 Senior Notes pursuant to the Existing 2013 Senior Notes Documents (as supplemented
by the relevant Existing Senior Notes Indenture Supplement);

          WHEREAS, pursuant to the New Senior Notes Indenture, the U.S. Borrower has issued the New
Senior Notes in aggregate principal amount of $475,000,000 (with the holders from time to time of
such New Senior Notes being herein called the “New Senior Noteholders”) pursuant to the
New Senior Notes Indenture;

          WHEREAS, certain U.S. Subsidiary Guarantors have guaranteed the repayment in full of the New
Senior Notes pursuant to the New Senior Notes Indenture;

- 2 -

 

          WHEREAS, pursuant to the New 2010 Senior Notes Indenture, the U.S. Borrower has issued the
New 2010 Senior Notes in aggregate principal amount of $400,000,000 (with the holders from time to
time of such New 2010 Senior Notes being herein called the “New 2010 Senior Noteholders”)
pursuant to the New 2010 Senior Notes Indenture;

          WHEREAS, certain U.S. Subsidiary Guarantors have guaranteed the repayment in full of the New
2010 Senior Notes pursuant to the New 2010 Senior Notes Indenture;

          WHEREAS, it is a condition precedent to the extensions of credit under the Credit Agreement
that this Agreement be executed and delivered by the original Parties hereto;

          WHEREAS, additional Parties may from time to time become parties hereto in order to allow for
certain extensions of credit in accordance with the requirements of the Credit Agreement, the New
2010 Senior Notes Documents and the New Senior Notes Documents;

          WHEREAS, each of the Parties hereto desires to execute this Agreement to satisfy the
conditions described in the immediately preceding paragraphs.

          NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties
hereto, the Parties and the Collateral Agent (for the benefit of the Senior Creditors) hereby
agree as follows:

          1. The Subordinated Debt (as defined in Section 7 hereof) and all payments
of principal, interest, and all other amounts thereunder are hereby, and shall continue to be,
subject and subordinate in right of payment to the prior payment in full, in cash, of all
Senior
Indebtedness to the extent, and in the manner set forth herein. The foregoing shall apply,
notwithstanding the availability of other collateral to the Senior Creditors or the holders of
Subordinated Debt or the actual date and time of execution, delivery, recordation, filing or
perfection of any security interests granted with respect to the Senior Indebtedness or the
Subordinated Debt, or the lien or priority of payment thereof, and in any instance wherein the
Senior Indebtedness or any claim for the Senior Indebtedness is subordinated, avoided or
disallowed, in whole or in part, under Title 11 of the United States Code (the
“Bankruptcy
Code”) or other applicable federal, foreign, state or local law. In the event of a
proceeding,
whether voluntary or involuntary, for insolvency, liquidation, reorganization, dissolution,
bankruptcy or other similar proceeding pursuant to the Bankruptcy Code or other applicable
federal,
foreign, state or local law (each, a “Bankruptcy Proceeding”), the Senior Indebtedness shall
include all interest accrued on the Senior Indebtedness, in accordance with and at the rates
specified in the Senior Indebtedness, both for periods before and for periods after the
commencement of any of such proceedings, even if the claim for such interest is not allowed
pursuant to the Bankruptcy Code or other applicable law.

          2. Each Party (as a lender of any Subordinated Debt) hereby agrees that until
all Senior Indebtedness has been repaid in full in cash:

     (a) Such Party shall not, without the prior written consent of the Required
Senior Creditors (as defined in Section 7 hereof), which consent may be withheld or

- 3 -

 

conditioned in the Required Senior Creditors’ sole discretion, commence, or join or participate
in, any Enforcement Action (as defined in Section 7 hereof).

     (b) In the event that (i) all or any portion of any Senior Indebtedness becomes due (whether
at stated maturity, by acceleration or otherwise), (ii) any Event of Default under the Credit
Agreement or any event of default under, and as defined in, any other Senior Indebtedness (or the
documentation governing the same), then exists or would result from such payment on the
Subordinated Debt (including, without limitation, pursuant to Section 9.13 of the Credit
Agreement), (iii) such Party receives any payment or prepayment of principal, interest or any other
amount, in whole or in part, of (or with respect to) the Subordinated Debt in violation of the
terms of the Credit Agreement or any other Senior Indebtedness (or the documentation governing the
same) or (iv) any distribution, division or application, partial or complete, voluntary or
involuntary, by operation of law or otherwise, is made of all or any part of the property, assets
or business of Holdings or any of its Subsidiaries or the proceeds thereof, in whatever form, to
any creditor or creditors of Holdings or any of its Subsidiaries or to any holder of indebtedness
of Holdings or any of its Subsidiaries or by reason of any liquidation, dissolution or other
winding up of Holdings, any of its Subsidiaries or their respective businesses, or of any
receivership or custodianship for Holdings or any of its Subsidiaries or of all or substantially
all of their respective property, or of any insolvency or bankruptcy proceedings or assignment for
the benefit of creditors or any proceeding by or against Holdings or any of its Subsidiaries for
any relief under any bankruptcy, reorganization or insolvency law or laws, federal, foreign, state
or local, or any law, federal, foreign, state or local relating to the relief of debtors,
readjustment of indebtedness, reorganization, composition or extension, then, and in any such
event, any payment or distribution of any kind or character, whether in cash, property or
securities which shall be payable or deliverable with respect to any or all of the Subordinated
Debt or which has been received by any Party shall be held in trust by such Party for the benefit
of the Senior Creditors and shall forthwith be paid or delivered directly to the Senior Creditors
for application to the payment of the Senior Indebtedness (after giving effect to the relative
priorities of such Senior Indebtedness) to the extent necessary to make payment in full in cash of
all sums due under the Senior Indebtedness remaining unpaid after giving effect to any concurrent
payment or distribution to the Senior Creditors. In any such event, the Senior Creditors may, but
shall not be obligated to, demand, claim and collect any such payment or distribution that would,
but for these subordination provisions, be payable or deliverable with respect to the Subordinated
Debt. In the event of the occurrence of any event referred to in subclauses (i), (ii), (iii) or
(iv) of the preceding sentence of this clause (b) above and until the Senior Indebtedness shall
have been fully paid in cash and satisfied and all of the obligations of Holdings or any of its
Subsidiaries to the Senior Creditors have been performed in full, no payment of any kind or
character (whether in cash, property, securities or otherwise) shall be made to or accepted by any
Party in respect of the Subordinated Debt. Notwithstanding anything to the contrary contained
above, if one or more of the events referred to in subclauses (i) through (iv) of the first
sentence of this clause (b) is in existence, the Required Senior Creditors may agree in writing
that payments may be made with respect to the Subordinated Debt which would otherwise be prohibited
pursuant to the provisions contained above, provided that any such waiver shall be
specifically limited to the

- 4 -

 

respective payment or payments which the Required Senior Creditors agree may be so paid to any
Party in respect of the Subordinated Debt;

     (c) If such Party shall acquire by indemnification, subrogation or otherwise,
any lien, estate, right or other interest in any of the assets or properties of Holdings or
any
of its Subsidiaries, that lien, estate, right or other interest shall be subordinate in right
of
payment to the Senior Indebtedness and the lien of the Senior Indebtedness as provided
herein, and such Party hereby waives any and all rights it may acquire by subrogation or
otherwise to any lien of the Senior Indebtedness or any portion thereof until such time as
all Senior Indebtedness has been repaid in full in cash;

     (d) Such Party shall not pledge, assign, hypothecate, transfer, convey or sell
any Subordinated Debt or any interest in any Subordinated Debt to any entity (other than
in accordance with the relevant requirements of the Credit Agreement to a Credit Party
which is a Party hereto) without the prior written consent of the Administrative Agent
(with the prior written consent of the Required Senior Creditors);

     (e) After request by the Administrative Agent or the Required Senior
Creditors, such Party shall within ten (10) days furnish the Senior Creditors with a
statement, duly acknowledged and certified setting forth the original principal amount of
the notes evidencing the indebtedness of the Subordinated Debt, the unpaid principal
balance, all accrued interest but unpaid interest and any other sums due and owing there
under, the rate of interest, the monthly payments and that, to the best knowledge of such
Party, there exists no defaults under the Subordinated Debt, or if any such defaults exist,
specifying the defaults and the nature thereof;

     (f) In any case commenced by or against Holdings or any of its Subsidiaries
or under Chapter 11 of the Bankruptcy Code or any similar provision thereof, or any
similar federal, foreign, state or local statute (a “Reorganization Proceeding”), to the
extent permitted by applicable law, the Required Senior Creditors shall have the
exclusive right to exercise any voting rights in respect of the claims of such Party against
Holdings or any of its Subsidiaries;

     (g) If, at any time, all or part of any payment with respect to Senior
Indebtedness theretofore made (whether by Holdings, either Borrower or any other
Person or enforcement of any right of setoff or otherwise) is rescinded or must otherwise
be returned by the holders of Senior Indebtedness for any reason whatsoever (including,
without limitation, the insolvency, bankruptcy or reorganization of Holdings, either
Borrower or such other Persons), the subordination provisions set forth herein shall
continue to be effective or be reinstated, as the case may be, all as though such payment
had not been made;

     (h) Such Party shall not object to the entry of any order or orders approving any cash
collateral stipulations, adequate protection stipulations or similar stipulations executed by the
Senior Creditors in any Reorganization Proceeding or any other proceeding under the Bankruptcy
Code; and

- 5 -

 

     (i) Such Party waives any marshalling rights with respect to the Senior Creditors in
any Reorganization Proceeding or any other proceeding under the Bankruptcy Code.

          3. Each Party hereby represents, warrants and covenants as follows:

     (a) each Party hereby agrees to deliver a schedule setting forth all
Intercompany Debt to the Administrative Agent within 10 days after any request by the
Administrative Agent or the Required Senior Creditors (although any failure to deliver
such a supplement shall have no effect whatsoever on the subordination provisions
contained herein, which shall apply to all Subordinated Debt whether or not listed on
said
schedule); and

     (b) each Party hereby covenants and agrees that it will not lend, hold or permit
to exist any Intercompany Debt owed by it or to it (in accordance with the definition
thereof contained herein) unless each obligee, or obligor, as the case may be, with
respect
to such Intercompany Debt is (or concurrently with such extension becomes) a Party to
this Agreement.

          4. Any payments made to, or received by, any Party in respect of any
guaranty or security in support of the Subordinated Debt shall be subject to the terms of this
Agreement and applied on the same basis as payments made directly by the obligor under such
Subordinated Debt. To the extent that Holdings or any of its Subsidiaries (other than the
respective obligor or obligors which are already Parties hereto) provides a guaranty or any
security in support of any Subordinated Debt, the Party which is the lender of the respective
Subordinated Debt will cause each such Person to become a Party hereto (if such Person is not
already a Party hereto) not later than the date of the execution and delivery of the
respective
guarantee or security documentation, provided that any failure to comply with the
foregoing
requirements of this Section 4 will have no effect whatsoever on the subordination provisions
contained herein (which shall apply to all payments received with respect to any guarantee or
security for any Subordinated Debt, whether or not the Person furnishings such guarantee or
security is a Party hereto).

          5. Each Party hereby acknowledges and agrees that no payments will be
accepted by it in respect of the Subordinated Debt (unless promptly turned over to the holders
of
Senior Indebtedness as contemplated by Section 2 above) to the extent such payments would be
prohibited under any Senior Indebtedness (or the documentation governing the same).

          6. In addition to the foregoing agreements, each Party hereby acknowledges
and agrees that, with respect to all Intercompany Debt (to the extent not constituting
Excluded
Collateral) (whether or not same constitutes Subordinated Debt), that (x) such Intercompany
Debt (and any promissory notes or other instruments evidencing same) may be pledged, and
delivered for pledge, by Holdings or any of its Subsidiaries pursuant to any Security Document
(as used herein, the term “Security Documents” shall have the meaning provided in the
Credit
Agreement and shall include any security documentation executed and delivered in connection
with any replacement or refinancing Credit Agreement) to which Holdings or the respective such
Subsidiary is, or at any time in the future becomes, a party and (y) with respect to all

- 6 -

 

Intercompany Debt so pledged, the Collateral Agent shall be entitled to exercise all rights and
remedies with respect to such Intercompany Debt to the maximum extent provided in the various
Security Documents (in accordance with the terms thereof and subject to the requirements of
applicable law). Furthermore, with respect to all Intercompany Debt at any time owed to Holdings
or any of its Subsidiaries which is a Credit Party, and notwithstanding anything to the contrary
contained in the terms of such Intercompany Debt, each obligor (including any guarantor) and
obligee with respect to such Intercompany Debt hereby agrees, for the benefit of the holders from
time to time of the Senior Indebtedness, that the Administrative Agent or Collateral Agent may at
any time, and from time to time, acting on its own or at the request of the Required Senior
Creditors, accelerate the maturity of such Intercompany Debt if any obligor (including any
guarantor) of such Intercompany Debt is (x) subject to any Bankruptcy Proceeding or (y) in default
of any of its obligations pursuant to the Credit Agreement or any other Credit Document to which
it is a party, which default pursuant to this clause (y) shall have continued unremedied for five
(5) or more Business Days (in the case of any payment default) or for ten (10) or more Business
Days after notice is received by the respective obligor (or guarantor) in the case of any
non-payment default. Any such acceleration of the maturity of any Intercompany Debt shall be made
by written notice by the Administrative Agent or Collateral Agent to the obligor on the respective
Intercompany Debt; provided that no such notice shall be required (and the acceleration
shall automatically occur) upon the occurrence of a Bankruptcy Proceeding with respect to the
respective obligor (or any guarantor) of the respective Intercompany Debt or, in any case where a
default of the type described in clause (y) has continued unremedied for the respective time
period described therein, upon (or following) any acceleration of the maturity of any Loans
pursuant to the Credit Agreement.

          7. Definitions. As and in this Agreement, the terms set forth below shall
have the respective meanings provided below:

          “Credit Document Obligations Termination Date” shall mean the first date after
the Initial Borrowing Date upon which all Commitments, Letters of Credit and Bank
Guaranties under the Credit Agreement have terminated and all Credit Document Obligations
have been paid in full in cash.

          “Enforcement Action” shall mean any acceleration of all or any part of the
Subordinated Debt, any foreclosure proceeding, the exercise of any power of sale, the
obtaining of a receiver, the seeking of default interest, the suing on, or otherwise taking
action to enforce the obligation of Holdings or any of its Subsidiaries to pay any amounts
relating to any Subordinated Debt, the exercising of any banker’s lien or rights of set-off
or recoupment, the institution of a Bankruptcy Proceeding against Holdings or any of its
Subsidiaries, or the taking of any other enforcement action against any asset or Property of
Holdings or its Subsidiaries.

          “Obligation” shall mean any principal, interest, premium, penalties, fees, indemnities
and other liabilities and obligations payable under the documentation governing any
Indebtedness (including, without limitation, all interest after the commencement of any
bankruptcy, insolvency, receivership or similar proceeding at the rate provided in the
governing documentation, whether or not such interest is an allowed claim in such
proceeding).

- 7 -

 

          “Required Senior Creditors” shall mean (i) the Required Lenders (or, to the extent
required by Section 13.12 of the Credit Agreement, each of the Lenders) at all times prior to the
Credit Document Obligations Termination Date, and (ii) the holders of at least a majority of the
outstanding Senior Indebtedness at all times after the Credit Document Obligations Termination
Date and prior to the repayment in full, in cash, of all outstanding Obligations with respect to
Senior Indebtedness.

          “Senior Creditors” shall mean all holders from time to time of any Senior Indebtedness and
shall include, without limitation, the Lender Creditors, the Hedging Creditors, the Existing
Senior Noteholders, the New Senior Noteholders and the New 2010 Senior Noteholders.

          “Senior Indebtedness” shall mean:

     (i) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities (including,
without limitation, indemnities, Fees and interest thereon) of each Credit Party (whether
as obligor, guarantor or otherwise) to the Lender Creditors, now existing or hereafter
incurred under, arising out of or in connection with the Credit Agreement and all other
Credit Documents to which it is at any time a party (including, without limitation, all
such obligations and liabilities of each Credit Party under the Credit Agreement (if a
party thereto) and under the Guaranties (if a party thereto) or under any other guarantee
by it of obligations pursuant to the Credit Agreement) and the due performance and
compliance by each Credit Party with the terms of each such Credit Document (all such
obligations and liabilities under this clause (i) being herein collectively called the
“Credit Document Obligations”);

     (ii) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each Credit
Party to the Hedging Creditors, now existing or hereafter incurred under, arising out of
or in connection with any Interest Rate Protection Agreement or Other Hedging Agreement
(including, without limitation, all such obligations and liabilities of such Credit Party
under the Guaranties (if a party thereto) with respect thereto or under any other
guarantee by it of obligations pursuant to any Interest Rate Protection Agreement or Other
Hedging Agreement) and the due performance and compliance by each Credit Party with the
terms of each such Interest Rate Protection Agreement and each Other Hedging Agreement
(all such obligations and liabilities under this clause (ii) being herein collectively
called the “Hedging Obligations”);

     (iii) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each U.S.
Credit Party to the Existing 2009 Senior Noteholders, now existing or hereafter incurred
under, arising out of or in connection with any Existing 2009 Senior Notes Documents
(including, without limitation, all such obligations and liabilities under any guarantees
relating thereto) and the due performance and

- 8 -

 

compliance by each U.S. Credit Party with the terms of each such Existing 2009 Senior Notes
Document (all such obligations and liabilities under this clause (iii) being herein
collectively called the “Existing 2009 Senior Note Obligations”);

     (iv) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each U.S.
Credit Party to the Existing 2013 Senior Noteholders, now existing or hereafter incurred
under, arising out of or in connection with any Existing 2013 Senior Notes Document
(including, without limitation, all such obligations and liabilities under any guarantees
relating thereto) and the due performance and compliance by each U.S. Credit Party with the
terms of each such Existing 2013 Senior Notes Document (all such obligations and
liabilities under this clause (iv) being herein collectively called the “Existing 2013
Senior Note Obligations”);

     (v) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each U.S.
Credit Party to the New Senior Noteholders, now existing or hereafter incurred under,
arising out of or in connection with any New Senior Notes Documents (including, without
limitation, all such obligations and liabilities under any guarantees relating thereto)
and the due performance and compliance by each U.S. Credit Party with the terms of each
such New Senior Notes Document (all such obligations and liabilities under this clause (v)
being herein collectively called the “New Senior Note Obligations”); and

     (vi) all Obligations (including Obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each U.S.
Credit Party to the New 2010 Senior Noteholders, now existing or hereafter incurred under,
arising out of or in connection with any New 2010 Senior Notes Documents (including,
without limitation, all such obligations and liabilities under any guarantees relating
thereto) and the due performance and compliance by each such U.S. Credit Party with the
terms of each such New 2010 Senior Notes Document (all such obligations and liabilities
under this clause (vi) being herein collectively called the “New 2010 Senior Note
Obligations”).

                “Subordinated Debt” shall mean the principal of, interest on, and all other amounts
owing from time to time in respect of all Intercompany Debt (including, without limitation,
pursuant to guarantees thereof or security therefor and intercompany payables not evidenced by a
note) at any time outstanding, provided that Subordinated Debt shall not include any
Intercompany Debt which is (1) owed by any Person to the U.S. Borrower, (2) owed by any Person
(other than the U.S. Borrower) to the Bermuda Borrower, (3) owed by a Bermuda Partnership
Shareholder to any other Credit Party that is not a Bermuda Partnership Shareholder, (4) owed by
any Person that is not a Credit Party to any Person, (5) owed by any Foreign Credit Party to any
U.S. Credit Party (other than a Bermuda Partnership Shareholder) and (6) owed by any Foreign
Credit Party that is not a Qualified Non-U.S Obligor to any Qualified Non-U.S. Obligor.

- 9 -

 

          8. Each Party agrees to be fully bound by all terms and provisions contained
in this Agreement, both with respect to any Subordinated Debt (including any guarantees
thereof
and security therefor) owed to it, and with respect to all Subordinated Debt (including all
guarantees thereof and security therefor) owing by it.

          9. It is understood and agreed that any Subsidiary of Holdings that is
required to execute a counterpart of this Agreement after the date hereof pursuant to the
requirements of the Credit Agreement or any other Senior Indebtedness shall become a Party
hereunder by executing a counterpart hereof (or an assumption agreement in form and substance
satisfactory to this Collateral Agent) and delivering same to the Collateral Agent.

          10. No failure or delay on the part of any party hereto or any holder of Senior
Indebtedness in exercising any right, power or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power or remedy preclude
any
other or further exercise thereof or the exercise of any other right, power or remedy
hereunder.

          11. Each Party hereto acknowledges that to the extent that no adequate
remedy at law exists for breach of its obligations under this Agreement, in the event any
Party
fails to comply with its obligations hereunder, the Collateral Agent, the Administrative Agent
or
the holders of Senior Indebtedness shall have the right to obtain specific performance of the
obligations of such defaulting Party, injunctive relief or such other equitable relief as may
be
available.

          12. Any notice to be given under this Agreement shall be in writing and shall
be sent in accordance with the provisions of the Credit Agreement.

          13. In the event of any conflict between the provisions of this Agreement and
the provisions of the Subordinated Debt, the provisions of this Agreement shall prevail.

          14. No person other than the parties hereto, the Senior Creditors from time to
time and their successors and assigns as holders of the Senior Indebtedness and the
Subordinated
Debt shall have any rights under this Agreement.

          15. This Agreement may be executed in any number of counterparts each of
which shall be deemed an original but all of which together shall constitute one and the same
instrument.

          16. No amendment, supplement, modification, waiver or termination of this
Agreement shall be effective against a party against whom the enforcement of such amendment,
supplement, modification, waiver or termination would be asserted, unless such amendment,
supplement, modification, waiver or termination was made in a writing signed by such party,
provided that amendments hereto shall be effective as against the Senior Creditors if
executed
and delivered by the Required Senior Creditors at such time.

          17. In case any one or more of the provisions confined in this Agreement, or
any application thereof, shall be invalid, illegal or unenforceable in any respect, the
validity,
legality and enforceability of the remaining provisions contained herein, and any other
application thereof, shall not in any way be affected or impaired thereby.

- 10 -

 

          18. (a) THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK.

          (b) Any legal action or proceeding with respect to this Agreement or any other
Credit Document to which any Party is a party may be brought in the courts of the State of New
York or of the United States of America for the Southern District of New York in each case
which are located in the City of New York, and, by execution and delivery of this Agreement,
each Party hereby irrevocably accepts for itself and in respect of its property, generally and
unconditionally, the jurisdiction of the aforesaid courts. Each Party hereby further
irrevocably
waives any claim that any such court lacks personal jurisdiction over such Party, and agrees
not
to plead or claim in any legal action or proceeding with respect to this Agreement or any
other
Credit Document to which such Party is a party brought in any of the aforesaid courts that any
such court lacks personal jurisdiction over such Party. Each Party further irrevocably
consents to
the service of process out of any of the aforementioned courts in any such action or
proceeding
by the mailing of copies thereof by registered or certified mail, postage prepaid, to such
Party at
its address set forth opposite is signature below, such service to become effective 30 days
after
such mailing. Each Party hereby irrevocably waives any objection to such service of process
and
further irrevocably waives and agrees not to plead or claim in any action or proceeding
commenced hereunder or under any other Credit Document to which such Party is a party that
such service of process was in any way invalid or ineffective. Nothing herein shall affect the
right of any of the Creditors to serve process in any other manner permitted by law or to
commence legal proceedings or otherwise proceed against each Party in any other jurisdiction.

          (c) EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF
VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT
OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT
DOCUMENT TO WHICH IT IS A PARTY BROUGHT IN THE COURTS REFERRED
TO IN CLAUSE (b) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND
AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT SUCH ACTION
OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

          (d) EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO
A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER CREDIT
DOCUMENT TO WHICH IT IS A PARTY OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

          19. This Agreement shall bind and inure to the benefit of the Collateral Agent,
the Senior Creditors and each Party and their respective successors, permitted transferees and
assigns.

- 11 -

 

          IN WITNESS WHEREOF, the parties (other than with respect to the Parties organized under the
laws of the Hong Kong Special Administrative Region of the
People’s Republic of China (the “HK
Parties”)) have duly executed this Agreement as of the day and year first above written.

          IN WITNESS WHEREOF, this Agreement has been signed, sealed and delivered by the duly
authorized officers of the HK Parties as of the day and year first above written.

	 	 	 	 	 
	 	DHM HOLDING COMPANY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President  	 
	 	 	 	 
	 
	 	DOLE FOOD COMPANY, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	CALAZO CORPORATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	AG 1970, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	AG 1971, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	AG 1972, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	ALYSSUM CORPORATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	BARCLAY HOLLANDER CORPORATION 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	BUD ANTLE, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	CALICAHOMES, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	CALIFORNIA POLARIS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE ABPIK, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE ARIZONA DRIED FRUIT AND NUT COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	DOLE CARROT COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE CITRUS 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE DF&N, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE DRIED FRUIT AND NUT COMPANY, A CALIFORNIA GENERAL PARTNERSHIP

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE FARMING, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE FRESH VEGETABLES, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE ORLAND, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE VISAGE, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	E. T. WALL COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	EARLIBEST ORANGE ASSOCIATION, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	FALLBROOK CITRUS COMPANY, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	LINDERO HEADQUARTERS COMPANY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	LINDERO PROPERTY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	OCEANVIEW PRODUCE COMPANY 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	PRAIRIE VISTA, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	ROYAL PACKING CO. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	VELTMAN TERMINAL CO.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	BANANERA ANTILLANA (COLOMBIA), INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	CLOVIS CITRUS ASSOCIATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DELPHINIUM CORPORATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE EUROPE COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE FOODS FLIGHT OPERATIONS, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE FRESH FLOWERS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE NORTHWEST, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE SUNFRESH EXPRESS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	STANDARD FRUIT AND STEAMSHIP COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 
	 
	 	STANDARD FRUIT COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	SUN COUNTRY PRODUCE, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	WEST FOODS, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	COOL ADVANTAGE, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	COOL CARE, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	FLOWERNET, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	SAW GRASS TRANSPORT, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	BLUE ANTHURIUM, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	CERULEAN, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE DIVERSIFIED, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	DOLE LAND COMPANY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE PACKAGED FOODS CORPORATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	LA PETITE D’AGEN, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	M K DEVELOPMENT, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	MALAGA COMPANY, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	MUSCAT, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	OAHU TRANSPORT COMPANY, LIMITED

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	WAHIAWA WATER COMPANY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	WAIALUA SUGAR COMPANY, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	ZANTE CURRANT, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President: 	 
	 	 	 	 
	 
	 	DIVERSIFIED IMPORTS CO. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE ASSETS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT COMPANY 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE HOLDINGS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE LOGISTICS SERVICES, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE OCEAN CARGO EXPRESS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DOLE OCEAN LINER EXPRESS, INC. 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	RENAISSANCE CAPITAL CORPORATION 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	SUN GIANT, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	DNW SERVICES COMPANY 

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	PACIFIC COAST TRUCK COMPANY

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	PAN-ALASKA FISHERIES, INC.

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	THE IKON CORPORATION

 	 
	 	By:  	/s/ Richard Dahl
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	
STANDARD FRUIT, S.A. (ARGENTINA)

 	 
	 	By  	/s/ Pablo Pinnel
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE PACIFIC GENERAL SERVICES, LTD.

 	 
	 	By  	/s/ C. Michael Carter
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	TRANSTRADING OVERSEAS, LTD 

 	 
	 	By  	/s/ C. Michael Carter
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	VERENIGDE BANANEN HANDELAREN N.V.

 	 
	 	By  	/s/ J.C. Julliard
 	 
	 	 	Title: Executive Director 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	AGOURA LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	ASHFORD COMPANY, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorised Signature  	 
	 	 	 	 
	 
	 	BALTIME LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Authorised Signature 	 
	 	 	 
	 	By  	 /s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorised Signature  	 
	 	 	 	 
	 
	 	CAMARILLO, LIMITED 

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director  	 
	 	 	 	 
	 
	 	DOLE ASIA, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director  	 
	 	 	 	 
	 
	 	DOLE FOREIGN HOLDINGS, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Authorised Signature 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Authorised Signature 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	DOLE INTERNATIONAL, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE NEW ZEALAND LTD. 

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	INTERFRUIT COMPANY, LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	MAHELE, LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	MENDOCINO LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	REFERSHIP MARINE SERVICES, LTD

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	FLORAMERICA INVESTMENTS LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	SOLAMERICA, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	SOLVEST, LTD.

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	STANDARD FRUIT COMPANY (BERMUDA) LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE BRASIL, LTDA

 	 
	 	By  	/s/
Luiz César Aguirre D’ Ottaviano
 	 
	 	 	Title: Attorney-in-fact of the partners 	 
	 	 	 	 
	 
	 	BANAPLUS INCORPORATED

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	NEWENT TRADING, INC.

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	NOIR VENTURES CORP. 

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact  	 
	 	 	 	 
	 
	 	NORWICK TECHNOLOGIES CORP.

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 
	 
	 	OPAL RESOURCES, LTD.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	RIVERWOOD MANAGEMENT COMPANY INC.

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 
	 
	 	ALTALANOS TECHNOLOGY, INC. 

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 
	 
	 	BLUEWATER INDUSTRIES LIMITED 

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 
	 
	 	BOGOR CAPITAL LIMITED 

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 
	 
	 	BROOK INVESTMENT LIMITED

 	 
	 	By  	/s/ Edgar Duque Lesmes
 	 
	 	 	Title: Authorized Representatives 	 
	 	 	 	 
	 
	 	CARDANZ TECHNOLOGIES CORP. 

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	JOROKO INTERTRADE LTD.

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Attorney in Fact  	 
	 	 	 	 
	 
	 	ASPEN INTERNATIONAL, INC.

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President       	 
	 	 	 	 
	 
	 	INVERSIONES COMERTEX, S.A. 

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President       	 
	 	 	 	 
	 
	 	LIVERPOOL INTERNATIONAL, S.A. 

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	MARSELLA INTERNATIONAL, CORP.

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	MILANO TRADING CORPORATION

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	MONACO INVESTMENT CORP.

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	POLAR TRADING CORP.

 	 
	 	By  	/s/ Jaime Mora S.
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE FOODS OF CANADA LTD. 

 	 
	 	By  	/s/ Robert Castagner
 	 
	 	 	Title: Vice-President 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	AGRICOLA CALIFORNIA LIMITADA

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	AGRICOLA PENCAHUE LIMITADA

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	AGRICOLA PUNITAQUI LIMITADA 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	AGRICOLA RAUQUEN LIMITADA

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	CARTONES SAN FERNANDO S.A. 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	DOLE CHILE S.A. 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	DOLE THOMSEN S.A. 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	EMBALAJES STANDARD S.A. 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 
	 
	 	INVERSIONES DEL PACIFICO S.A. 

 	 
	 	By  	/s/ Jonathan Y. Bass
 	 
	 	 	Title: Representative 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	SHANGHAI DOLE FOOD CO., LTD.

 	 
	 	By  	/s/ Chan Yuen Yi
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	QINGDAO DOLE FOOD CO., LTD.

 	 
	 	By  	/s/ Chan Yuen Yi
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	AGRICOLA EUFEMIA LTDA.

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 
	 	AGROPECUARIA SAN GABRIEL LTDA. 

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 
	 	AGROPECUARIA SAN PEDRO LTDA. 

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: SubGerente General 	 
	 	 	 	 
	 
	 	BANA LTDA. 

 	 
	 	By  	/s/ Guillermo Sierra Pinto
 	 
	 	 	Title: Gerente 	 
	 	 	 	 
	 
	 	COMPANIA EXPORTADORA DE PRODUCTOS AGRICOLAS S.C.A.

 	 
	 	By  	/s/ Guillermo Sierra Pinto
 	 
	 	 	Title: Gerente Socio Gestor 	 
	 	 	 	 
	 
	 	INVERSIONES ORIHUECA LTDA.

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Primer Suplente del Representante Legal 	 
	 	 	 	 
	 
	 	SERVICIOS TECNICOS BANANEROS LTDA.

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Suplente del Gerente 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	C.I. AGRICOLA EL CASTILLO LTDA.

 	 
	 	By  	/s/
Jorge Eliécer Hernández Benítez
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. AGRICOLA GUACARI LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	AMERICAFLOR LTDA.

 	 
	 	By  	/s/ Luis Jorge López Barrera
 	 
	 	 	Title: Gerente 	 
	 	 	 	 
	 
	 	C.I. COLOMBIAN CARNATIONS LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. COMERCIALIZADORA CARIBBEAN LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. CULTIVOS DEL CARIBE LTDA. 

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. CULTIVOS SAN NICOLAS LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. FLORAMERICA LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. FLORES ALTAMIRA LTDA. 

 	 
	 	By  	
/s/ Julio Enrique Amador Gutiérrez
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	C.I. FLORES DE EXPORTACION LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. FLORES LA FRAGANCIA LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. FLORES LAS PALMAS LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. FLORES PRIMAVERA LTDA.

 	 
	 	By  	/s/
Julio Enrique Amador Gutiérrez
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	FLORES SAN JOAQUIN LTDA.

 	 
	 	By  	/s/
Jorge Eliécer Hernándo Benitez
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. JARDINES DE COLOMBIA LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. JARDINES DEL VALLE LTDA.

 	 
	 	By  	/s/
José Vicente Medina Orjuela
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. OLYMPIA FLOWERS LTDA.

 	 
	 	By  	/s/ José Vicente Medina Orjuela
 	 
	 	 	Title: Segundo Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. PORCELAIN FLOWERS LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	C.I. SANTA MONICA FLOWERS LTDA.

 	 
	 	By  	/s/
Lucía Taborda Giraldo
 	 
	 	 	Title: Primer Suplente del Gerente 	 
	 	 	 	 
	 
	 	C.I. SPLENDOR FLOWERS LTDA.

 	 
	 	By  	/s/ Lucía Taborda Giraldo
 	 
	 	 	Title: Tercer Suplente del Gerente 	 
	 	 	 	 
	 
	 	TENICAS BALTIME DE COLOMBIA S.A.

 	 
	 	By  	/s/ Luis Fernando Diaz Diaz
 	 
	 	 	Title: Subgerente General 	 
	 	 	 	 
	 
	 	AERO-FUMIGACION CENTROAMERICANA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	AGROINDUSTRIAL PINAS DEL BOSQUE S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	AGROPECUARIA RIO JIMENEZ S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ALMACENES ATALANTA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ALPPHA SIDERAL S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	BANANERA EL PORVENIR S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	BANANERA LA PAZ, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA BANANERA DEBA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA BANANERA DEL SAN RAFAEL S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA BANANERA EL ENCANTO S.A.

 	 
	 	By 	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 
	 
	 	COMPANIA FINANCIERA DE COSTA RICA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMPANIA FRUTOS DE LA TIERRA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	COMERCIALIZADORA E IMPORTADORA VINA 
DEL MAR S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DESARROLLO BANANERO LA ESPERANZA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DESARROLLO MELONERO DEL GOLFO, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DIVERSIFICADOS DE COSTA RICA DICORI, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ESTIBADORES GOLFITENOS, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ESTIBADORES DEL TROPICO, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	HACIENDA LA ROSALIA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: Agent 	 
	 	 	 	 
	 
	 	LA PERLA S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ROXANA FARMS S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	SERVICIOS ADUANALES BANADOLE, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	STANDARD FRUIT COMPANY DE COSTA RICA, S.A.

 	 
	 	By  	/s/ Peter Gilmore
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE SHARED SERVICES LIMITADA

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Manager 	 
	 	 	 	 
	 
	 	ACTIVIDADES AGRICOLAS S.A. (AGRISA)

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANANACORP S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANCUBER S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BRUNETTI S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA NAVIERA AGMARESA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FRIOCONT S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FRUTBAN S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	GRANELCONT S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	GUAYAMI S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MEGABANANA S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MODUMOLL S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	NAPORTEC S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PRODUCTOS DEL LITORAL S.A. (PROLISA)

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	REDAMAWAL S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SIEMBRANUEVA S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FLORES MITAD DEL MUNDO LTDA.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	TALLAN, TALLERES Y LLANTAS S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	TECNIELEC TECNICOS Y ELECTRICITAS S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PORMAR TRANSPORTES POR MAR S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	UBESAIR, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	UNION DE BANANEROS ECUATORIANOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMERCIAL INDUSTRIAL ECUATORIANA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PRODUCTORA CARTONERA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	ZANPOTI, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	TINADI S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	AGROVERDE S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	SOCIEDAD AGROPECUARIA PIMOCHA C.A. (SAPICA)

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BETINO S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PEMATIN S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PESCASEROLI S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PROPOLISA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE EUROPE SAS

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE FRANCE SAS

 	 
	 	By  	/s/ B. Galland
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE PACKAGED FOODS EUROPE SAS

 	 
	 	By  	/s/ Erwin van Gelder
 	 
	 	 	Title: General Manager 	 
	 	 	 	 
	 
	 	SOLEIL HOLDING FRANCE SA

 	 
	 	By  	/s/ C. Gouthiere
 	 
	 	 	Title: President 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE DEUTSCHLAND BETEILIGUNGSGESELLSCHAFT MBH

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE DEUTSCHLAND GMBH

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT EUROPE OHG

 	 
	 	By  	/s/ Michael J. Cavallero
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PAUL KEMPOWSKI GMBH & CO. KG

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT HELLAS

 	 
	 	By  	/s/ J.C. Juilliard
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	ENERGUA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	SERVICIOS TECNICIOS PORTUARIOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	STANDARD FRUIT DE GUATEMALA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	AGRICOLA SANTA INES, S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	AGROINDUSTRIA DEL CARIBE, S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	AGROINDUSTRIAL ALMA VERDE, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BANANERA RIO MAME, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BIENES Y SERVICIOS S DE R L DE CV

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	BIENES Y VALORES, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGRICOLA EL PROGRESO, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGRICOLA INDUSTRIAL CEIBENA, SA

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGRICOLA MAZAPAN, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COMPANIA AGROPECUARIA EL PORVENIR, S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	CLINICAS MEDICAS DEL AGUAN, S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	COORDINADORA DE SERVICIOS DE TRANSPORTE, SA

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DESARROLLOS URBANOS LA CEIBA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DISTRIBUIDORA DE PRODUCTOS DIVERSOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	ENERGUA S.A. SUCURSAL HONDURAS

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	EQUIPO PESADO S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FABRICA DE MANTECA & JABON ATLANTIDA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	HOSPITAL COYOLES, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	COMPANIA INVERSIONES MEDICAS NACIONALE S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	INVERSIONES Y VALORES DE MONTECRISTO, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	LABORATORIOS Y SERVICIOS DE MERISTEMOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MANUFACTURAS DE CARTON, S.A.

 	 
	 	By  	/s/ Richard J. Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	MULTISERVICIOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PINA ANTILLANA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PLASTICOS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	PRODUCTORA AGRICOLA DE ATLANTIDA, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	SERVICIOS E INVESTIGACIONES AEREAS, SA

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SERVICIOS HONDURENOS DE AGRICULTURA Y RECURSOS

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	SOGAS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	STANDARD FRUIT DE HONDURAS, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	VIGILANCIA Y SEGIRIDAD, S.A.

 	 
	 	By  	/s/ Richard Dahl
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	CASTLE & COOKE WORLDWIDE LIMITED

 	 
	 	By  	/s/ James Prideaux
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ Fong Wing Cheung
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE CHINA LIMITED

 	 
	 	By  	/s/ James Prideaux
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ Sze Chi Kwan Stanley
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE HONG KONG LIMITED

 	 
	 	By  	/s/ Fong Wing Cheung
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ Tang Fung Lim
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE ITALIA S.P.A.

 	 
	 	By  	/s/ Patrizio Tumietto
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	FRATELLI ISELLA S.r.l.

 	 
	 	By  	/s/ Ferruccio Isella
 	 
	 	 	Title: Chairman 	 
	 	 	 	 
	 
	 	LA FIORITA S.r.l.

 	 
	 	By  	/s/ Franco Barghini
 	 
	 	 	Title: Sole Director 	 
	 	 	 	 
	 
	 	MAGAZZINI FRIGORIFERI SANTA PALOMBA S.P.A.

 	 
	 	By  	/s/ Patrizio Tumietto
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	TROPICAL SHIPPING ITALIANA, T.S.I. S.P.A.

 	 
	 	By  	/s/ Luigi Gallo
 	 
	 	 	Title: President of the Board of Directors 	 
	 	 	 	 
	 
	 	KABUSHIKI KAISHA DOLE

 	 
	 	By  	/s/ Tatsuo Horiuchi
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DFC FOODS, INC.

 	 
	 	By  	/s/ Emmanuel Q. Javellana
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE KOREA, LTD.

 	 
	 	By  	/s/ Emmanuel Q. Javellana
 	 
	 	 	Title: Representative & Managing Director 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT INTERNATIONAL LIMITED

 	 
	 	By  	/s/ Timothy C. Faries
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ C. Marc Wetherhill
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	TROPICAL NAVIGATION (MALTA) LIMITED

 	 
	 	By  	/s/ Richard Harrah
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	DOLE SHANGHAI CO., LIMITED

 	 
	 	By  	/s/ Jennifer A. Wiegleb
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	COMERCIALIZACIONES SUNMEX MEXICANA, S.A. DE C.V.

 	 
	 	By  	/s/ Alvaro Anaya
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	MEXICOTEC, S.A. DE C.V.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	FLORES LUCITANIA, S. DE R.L. DE C.V.

 	 
	 	By  	/s/ Alvaro Anaya
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	DOLE EUROPE BV

 	 
	 	By  	/s/ William Francis Feeney
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE HOLLAND BV

 	 
	 	By  	/s/ Erwin van Gelder
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	INTEROCEAN FINANCIAL MANAGEMENT CORPORATION

 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	INVERSIONISTA FORTUNA, S.A.

 	 
	 	By  	/s/
Robert Elías Batista Solís
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	INVERSIONISTA ZARATI, S.A.

 	 
	 	By  	/s/
Irene Arias de Alemán
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	BENVUE INTERNATIONAL, INC.

 	 
	 	By  	/s/
Rodrigo Hernández
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	BLOCK INVESTMENTS, INC.

 	 
	 	By  	/s/ Roberto Elías Batista Solís
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE AVIATION, INC.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT INTERNATIONAL, INC.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	OPERACIONES TROPICALES, S.A.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	PRELL CORPORATION

 	 
	 	By  	/s/ Armando Aparicio
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	SINGLE TREE CORPORATION

 	 
	 	By  	/s/ Beth Potillo
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	COMERCIAL AGROFLOR, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	DELTA TREE ENTERPRISES, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	FLOWER INTERNATIONAL, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	GALANA INTERNACIONAL, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	IMPORTADORA Y EXPORTADORA NOPAL, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	IMPORTADORA Y EXPORTADORA ROVEGO, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	INVERSIONES CROWN, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	INVERSIONES FLORICOLA S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	NICOLLE INTERNATIONAL, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	PEYTON FLOWERS, S. DE R.L.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	TRIPLEJAY INVESTMENT CORP., S.A.

 	 
	 	By  	/s/ Jamie Mora S.
 	 
	 	 	Title: Administrator 	 
	 	 	 
	 	By  	/s/ Juan Salazar
 	 
	 	 	Title: Administrator 	 
	 	 	 	 
	 
	 	COPDEBAN S.A.C.

 	 
	 	By  	/s/ Ivan Wong
 	 
	 	 	Title: General Manager 	 
	 	 	 	 
	 
	 	DOLE PHILIPPINES, INC.

 	 
	 	By  	/s/ Paul S. Cuyegkeng
 	 
	 	 	Title: President 	 
	 	 	 	 
	 
	 	DOLE POLAND SP. ZO.O.

 	 
	 	By  	/s/ Genevieve Kelly
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE SOUTH AFRICA LTD

 	 
	 	By  	/s/ William Francis Fenney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	FRUIT CARE SERVICES

 	 
	 	By  	/s/ William Francis Fenney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	DOLE COMERCIALIZATION

 	 
	 	By  	/s/ William Francis Fenney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DOLE FOOD ESPANA

 	 
	 	By  	/s/ William Francis Fenney
 	 
	 	 	Title: Authorized Signatory 	 
	 	 	 	 
	 
	 	VIUDA DE SABATE

 	 
	 	By  	/s/ Felix Montals Sabaté
 	 
	 	 	Title: Managing Director 	 
	 	 	 	 
	 
	 	THAI AMERICAN FOOD CO., LTD.

 	 
	 	By  	/s/ Paul S. Cuyegkeng
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE FRESH FRUIT MED GIDA 

URUNLERI TICARET VE A.S.

 	 
	 	By  	/s/ Fouad Foukfa
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE U.K. LIMITED

 	 
	 	By  	/s/ O.J. Diesen
 	 
	 	 	Title: Director 	 
	 	 	 
	 	By  	/s/ V.C. Bhasin
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	DOLE DE VENEZUELA, C.A.

 	 
	 	By  	/s/ Renato Acuna Delcore
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	INVERSIONES AGRICA, S.A.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 
	 	INVERSIONES DEL AGRO, C.A.

 	 
	 	By  	/s/ Stephen L. Bowman
 	 
	 	 	Title: Authorized Representative 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, as Collateral Agent

 	 
	 	By:  	/s/ Scottye D. Lindsey
 	 
	 	 	Title: Vice President 	 
	 	 	 
	 	By:  	/s/ Alexander Bici
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

 

 

EXHIBIT P

FORM OF INCREMENTAL TERM LOAN COMMITMENT AGREEMENT

[Name(s) of Lender(s)]

DHM Holding Company, Inc.

One Dole Drive

Westlake Village, CA 91362

[Dole Food Company, Inc.][Solvest, Ltd.]

One Dole Drive

Westlake Village, CA 91362

			
	Re:	 	Incremental Term Loan Commitments

Ladies and Gentlemen:

          Reference is hereby made to the Credit Agreement, dated as of March 28, 2003, amended and
restated as of April 18, 2005 and further amended and restated as of April 12, 2006, among DHM
Holding Company, Inc. (“Holdings”), Dole Holding
Company, LLC, Dole Food Company, Inc. (the “U.S.
Borrower”), Solvest, Ltd. (the “Bermuda Borrower” and, together with the U.S. Borrower,
the “Borrowers”), the lenders from time to time party thereto, Banc of America Securities LLC, as
Syndication Agent, The Bank of Nova Scotia, as Documentation Agent, Deutsche Bank Securities Inc.,
as Lead Arranger and Sole Book Runner, and Deutsche Bank AG New York, as Administrative Agent and
Deposit Bank (as so amended and restated and as the same may be further amended, restated,
modified and/or supplemented from time to time, the “Credit Agreement”). Unless otherwise defined
herein, capitalized terms used herein shall have the respective meanings set forth in the Credit
Agreement.

          Each Lender (each an “Incremental Term Loan Lender”) party to this letter agreement
(this “Agreement”) hereby severally agrees to provide the Incremental Term Loan Commitment set
forth opposite its name on Annex I attached hereto (for each such Incremental Term Loan Lender,
its “Incremental Term Loan Commitment”). Each Incremental Term Loan Commitment provided
pursuant to this Agreement shall be subject to all of the terms and conditions set forth in the
Credit Agreement, including, without limitation, Sections 1.01(c) and 1.15 thereof.

          Each Incremental Term Loan Lender, Holdings, [the U.S. Borrower][the Bermuda Borrower](the
“Incremental Term Loan Borrower”) and the Administrative Agent acknowledge and agree that
the Incremental Term Loan Commitments provided pursuant to this Agreement shall constitute
Incremental Term Loan Commitments of the respective Tranche specified in Annex I attached hereto
and, upon the incurrence of Incremental Term Loans pursuant to such Incremental Term Loan
Commitments, shall constitute Incremental Term Loans under such specified Tranche for all purposes
of the Credit Agreement and the other applicable Credit Documents. Each Incremental Term Loan
Lender, Holdings, the Incremental Term Loan Borrower and the Administrative Agent further agree
that, with respect to the Incremental Term Loan Commitment provided by each Incremental Term Loan
Lender pursuant to this Agreement, such Incremental Term Loan Lender shall receive from Holdings
and/or the Incremental Term

 

 

Page 2

Loan Borrower such upfront fees, unutilized commitment fees and/or other fees, if any, as may be
separately agreed to in writing with Holdings and/or the Incremental Term Loan Borrower and
acknowledged by the Administrative Agent, all of which fees shall be due and payable to such
Incremental Term Loan Lender on the terms and conditions set forth in each such separate agreement.

          Furthermore, each of the parties to this Agreement hereby agree to the terms and conditions
set forth on Annex I hereto in respect of each Incremental Term Loan Commitment provided pursuant
to this Agreement.

          Each Incremental Term Loan Lender party to this Agreement, to the extent not already a party
to the Credit Agreement as a Lender thereunder, (i) confirms that it is an Eligible Transferee,
(ii) confirms that it has received a copy of the Credit Agreement and the other Credit Documents,
together with copies of the financial statements referred to therein and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter
into this Agreement and to become a Lender under the Credit Agreement, (iii) agrees that it will,
independently and without reliance upon the Administrative Agent or any other Lender and based on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Credit Agreement and the other Credit
Documents, (iv) appoints and authorizes the Administrative Agent and the Collateral Agent to take
such action as agent on its behalf and to exercise such powers under the Credit Agreement and the
other Credit Documents as are delegated to the Administrative Agent and the Collateral Agent, as
the case may be, by the terms thereof, together with such powers as are reasonably incidental
thereto, [and] (iv) agrees that it will perform in accordance with their terms all of the
obligations which by the terms of the Credit Agreement and the other Credit Documents are required
to be performed by it as a Lender[, and (v) in the case of each Incremental Term Loan Lender
organized under the laws of a jurisdiction outside the United States, attaches the forms and/or
Certificates referred to in Section 4.04(b) of the Credit Agreement, certifying as to its
entitlement as of the date hereof to a complete exemption from United States withholding taxes
with respect to all payments to be made to it by the Incremental Term Loan Borrower under the
Credit Agreement and the other Credit Documents.]1

          Upon the date of (i) the execution of a counterpart of this Agreement by each Incremental Term
Loan Lender, the Administrative Agent, Holdings, Intermediate Holdco, the Incremental Term Loan
Borrower and [each Guarantor (other than the Bermuda Borrower)]2[each U.S. Subsidiary
Guarantor]3, (ii) the delivery to the Administrative Agent of a fully executed
counterpart (including by way of facsimile) hereof, (iii) the payment of any fees then due and
payable in connection herewith and (iv) the satisfaction of any other conditions precedent set
forth in Section 10 of Annex I hereto (such date, the “Agreement Effective Date”), each Incremental
Term Loan Lender party hereto (i) shall be obligated to make the Incremental Term Loans provided to
be made by it as provided in this Agreement on the terms, and subject to the conditions, set forth
in the Credit Agreement and in this Agreement and (ii) to the extent

 

			
	1	 	Insert if the U.S. Borrower is the Incremental Term Loan Borrower.
	 
	2	 	Insert if the Bermuda Borrower is the Incremental Term Loan Borrower.
	 
	3	 	Insert if the U.S. Borrower is the Incremental Term Loan Borrower.

 

 

Page 3

provided in this Agreement, shall have the rights and obligations of a Lender thereunder and under
the other applicable Credit Documents.

          The Incremental Term Loan Borrower acknowledges and agrees that (i) it shall be liable for
all Obligations with respect to the Incremental Term Loan Commitments provided hereby, including,
without limitation, all Incremental Term Loans made pursuant thereto, and (ii) all such
Obligations (including all such Incremental Term Loans) shall be entitled to the benefits of the
respective Security Documents and Guaranties as, and to the extent, provided in the Credit
Agreement and in such other Credit Documents.

          [Each Guarantor (other than the Bermuda Borrower)]4[Each of Holdings, Intermediate
Holdco and each U.S. Subsidiary Guarantor]5 acknowledges and agrees that all
Obligations with respect to the Incremental Term Loan Commitments provided hereby and all
Incremental Term Loans made pursuant thereto shall (i) be fully guaranteed pursuant to the
respective Guaranties as, and to the extent, provided therein and in the Credit Agreement and (ii)
be entitled to the benefits of the respective Security Documents as, and to the extent, provided
therein and in the Credit Agreement.

          Attached hereto as Annex II are true and correct copies of officer’s certificates, board of
director resolutions and good standing certificates of the Credit Parties required to be delivered
pursuant to clause (y) of the definition of “Incremental Loan Commitment Requirements” appearing
in Section 11 of the Credit Agreement.

          Attached hereto as Annex III [is an opinion] [are opinions] of [insert name or names of
counsel, including in-house counsel, who will be delivering opinions], counsel to the respective
Credit Parties, delivered as required pursuant to clause (x) of the definition of “Incremental Loan
Commitment Requirements” appearing in Section 11 of the Credit Agreement.

          Attached hereto as Annex IV is the officer’s certificate required to be delivered pursuant to
clause (t) of the definition of “Incremental Loan Commitment Requirements” appearing in Section 11
of the Credit Agreement certifying that the conditions set forth in clauses (r) and (s) of the
definition of “Incremental Loan Commitment Requirements” appearing in Section 11 of the Credit
Agreement have been satisfied (together with calculations demonstrating same (where applicable) in
reasonable detail).

          Attached hereto as Annex V is a copy of the officer’s certificate required to be delivered
pursuant to clause (u) of the definition of “Incremental Term Loan Commitment Requirements”
appearing in Section 11 of the Credit Agreement certifying which provisions of the ABL Credit
Agreement, the Existing 2009 Senior Notes Indenture, the Existing 2013 Senior Notes Indenture, the
Existing 2010 Senior Notes Indenture, the Existing 2011 Senior Notes Indenture, the Intermediate
Holdco Credit Agreement, each Wellbeing Project Financing Document and (after the execution and
delivery thereof) each Permitted Senior Notes Indenture and each Permitted Senior Refinancing
Notes Document that the respective incurrence of

 

			
	4	 	Insert if the Bermuda Borrower is the Incremental Term Loan Borrower.
	 
	5	 	Insert if the U.S. Borrower is the Incremental Term Loan Borrower.

 

 

Page 4

Incremental Loans will be justified under and demonstrating in reasonable detail that the full
amount of such Incremental Term Loans may be incurred in accordance with, and will not violate the
provisions of the ABL Credit Agreement, the Existing 2009 Senior Notes Indenture, the Existing 2013
Senior Notes Indenture, the Existing 2010 Senior Notes Indenture, the Existing 2011 Senior Notes
Indenture, the Intermediate Holdco Credit Agreement, each Wellbeing Project Financing Document and
(after the execution and delivery thereof) each Permitted Senior Notes Indenture and each Permitted
Senior Refinancing Notes Document.

          [The Obligations to be incurred pursuant to the Incremental Term Loan Commitments provided
hereunder, and the Guaranteed Obligations (as defined in the U.S. Subsidiaries Guaranty) of the
U.S. Subsidiary Guarantors, are in accordance with, will not violate the provisions of, and will
constitute “Senior Debt” and “Designated Senior Debt” (in the case of any Permitted Senior Notes
Document and any Permitted Refinancing Senior Notes Document which provides for subordination of
the U.S. Borrower’s obligations thereunder) or “Guarantor Senior Debt” and “Designated Guarantor
Senior Debt,” as the case may be, for the purpose of the Existing 2009 Senior Notes Indenture, the
Existing 2013 Senior Notes Indenture, the Existing 2010 Senior Notes Indenture, the Existing 2011
Senior Notes Indenture and (after the execution and delivery thereof) each Permitted Senior Notes
Indenture and each Permitted Senior Refinancing Notes Document, as applicable.]6

          You may accept this Agreement by signing the enclosed copies in the space provided below, and
returning one copy of same to us before the close of business on                                         ,                      .
If you do not so accept this Agreement by such time, our Incremental
Term Loan Commitments set forth in this Agreement shall be deemed canceled.

          After the execution and delivery to the Administrative Agent of a fully executed copy of this
Agreement (including by way of counterparts and by facsimile transmission) by the parties hereto,
this Agreement may only be changed, modified or varied by written instrument in accordance with
the requirements for the modification of Credit Documents pursuant to Section 13.12 of the Credit
Agreement.

          In the event of any conflict between the terms of this Agreement and those of the Credit
Agreement, the terms of the Credit Agreement shall control.

*****

 

			
	6	 	Insert if
the U.S. Borrower is the Incremental Term Loan Borrower.

 

 

Page 5

          THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF
NEW YORK.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF EACH INCREMENTAL TERM LOAN LENDER]	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title	 	 

Agreed and Accepted

this                      day of                                         ,  
                  
 :

	 	 	 	 	 
	DHM HOLDING COMPANY, INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	[NAME OF INCREMENTAL TERM LOAN BORROWER]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	DEUTSCHE BANK AG NEW YORK BRANCH,

  as Administrative Agent	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

 

Page 6

[Each Guarantor (other than the Bermuda Borrower)]7[Each of Holdings, Intermediate
Holdco, and each U.S. Subsidiary Guarantor]8 acknowledges and agrees to each the
foregoing provisions of this Incremental Term Loan Commitment Agreement and to the incurrence of
the Incremental Term Loans to be made pursuant thereto.

	 	 	 	 	 
	DHM HOLDING COMPANY, INC., as a Guarantor	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	[EACH OTHER GUARANTOR], as a Guarantor	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

			
	7	 	Insert if the Bermuda Borrower is the Incremental Term Loan Borrower.
	 
	8	 	Insert if the U.S. Borrower is the Incremental Term Loan Borrower

 

 

ANNEX I

TERMS AND CONDITIONS FOR

INCREMENTAL TERM LOAN COMMITMENT AGREEMENT

Dated as of                                         ,                     

	1.	 	Name of Incremental Term Loan Borrower:
	 
	2.	 	Incremental Term Loan Commitment Amounts (as of the Agreement Effective Date):

	 	 	 	 	 
	 

	 	 	 	Amount of Incremental Term Loan
	 

	 	Names of Incremental Term Loan Lenders
	 	Commitment

Total:1

	3.	 	Designation of Tranche of Incremental Term Loan Commitments
(and Incremental Term Loans to be funded thereunder)2:
	 
	4.	 	Indicate whether the Incremental Term Loan Commitments to be
provided hereunder are to be single draw commitments or multiple draw commitments and the date or dates by
which such commitments must be utilized by:3
	 
	5.	 	Incremental Term Loan Maturity Date:4
	 
	7.	 	Dates for, and amounts of, Incremental Term Loan Scheduled Repayments:5

 

			
	1	 	The aggregate amount of each Tranche of Incremental Term Loan Commitments must be at
least $25,000,000.
	 
	2	 	Designate the respective Tranche for such Incremental Term Loan Commitments or
indicate that it is to be
added to (and form part of) an existing Tranche of Term Loans, provided in the case that the Incremental Term
Loan Commitments to be provided pursuant to this Agreement are to be added to (and form a part of) an
existing Tranche of Term Loans, the Incremental Term Loan Borrower for such Incremental Term Loan
Commitments shall be the same as for such existing Tranche of Term Loans.
	 
	3	 	Date cannot be later than the then latest Maturity Date.
	 
	4	 	Insert Maturity Date for the Incremental Term Loans to be incurred pursuant to the Incremental Term Loan
Commitments provided hereunder, provided that (i) such Incremental Term Loan Maturity
Date shall be no
earlier than the then latest Maturity Date and (ii) in the event the Incremental Term Loan
Commitments to be
provided pursuant to this Agreement are to be added to (and form a part of) an existing Tranche
of Term
Loans, the Incremental Term Loan Maturity Date for the Incremental Term Loans to be incurred
pursuant to
such Incremental Term Loan Commitments shall be the same Maturity Date as for such existing
Tranche of
Term Loans.

 

 

Page 2

	8.	 	Applicable Margins:6
	 
	9.	 	The proceeds of the Incremental Term Loans to be provided hereunder are to be used
for:7
	 
	10.	 	Other Conditions Precedent:8
	 
	11.	 	Notice Office:9
	 
	12.	 	Payment Office:10
	 
	13.	 	Minimum Borrowing
Amount:11
	 
	[14.	 	[Insert name of respective Incremental Term Loan Borrower] agrees to pay compensation as,
and to the extent, provided in the last paragraph of Section 1.15(c) of the Credit
Agreement.]12

 

			
	(...continued)
	 
	5	 	Set forth the dates for Incremental Term Loan Scheduled Repayments and the principal
amount (expressed as a
numerical amount or as a percentage of the aggregate amount of Incremental Term Loans to be incurred
pursuant to the Incremental Term Loan Commitments provided hereunder), provided that (i) to the extent the
Incremental Term Loan Commitments being provided hereunder constitute a new Tranche of Term Loans, the
Weighted Average Life to Maturity of such new Tranche shall be no less than the Weighted Average Life to
Maturity as then in effect for the Tranche of the outstanding Loans with the longest Weighted Average Life to
Maturity and (ii) in the event the Incremental Term Loan Commitments to be provided hereunder are to be
added to (and form a part of) an existing Tranche of Term Loans, (x) the Incremental Term Loan Scheduled
Repayments for such Incremental Term Loans shall be the same (on a proportionate basis) as is theretofore
applicable to the existing Tranche of Term Loans to which such new Incremental Term Loans are being added
and (y) such Incremental Term Loans shall have the same Incremental Term Loan Scheduled Repayment
Dates.
	 
	6	 	Insert the Applicable Margins that shall apply to the Incremental Term Loans being provided hereunder,
provided in the event the Incremental Term Loan Commitments to be provided hereunder are to be made under
(and form a part of) an existing Tranche of Term Loans, the Incremental Term Loans to be incurred pursuant to
such Incremental Term Loan Commitments shall have the same Applicable Margins applicable to such
existing Tranche of Term Loans.
	 
	7	 	Designate the specific use of the proceeds of the applicable Incremental Term Loans as provided in Section
7.05(a) of the Credit Agreement.
	 
	8	 	Insert any additional conditions precedent which may be required to be satisfied prior to the Amendment
Effective Date.
	 
	9	 	The Notice Office for Incremental Term Loans incurred by the Incremental Term Loan Borrower shall be as
set forth in the definition of “Notice Office” in Section 11 of the Credit Agreement.
	 
	10	 	The Payment Office for Incremental Term Loans incurred by the Incremental Term Loan
Borrower shall be as
set forth in the definition of “Payment Office” in Section 11 of the Credit Agreement.
	 
	11	 	The Administrative Agent shall designate the Minimum Borrowing Amount for the respective Tranche of
Incremental Term Loans, pursuant to the definition of “Minimum Borrowing Amount” in Section 11
of the
Credit Agreement.

 

 

Page 3

 

			
	(...continued)
	 
	12	 	Insert if the respective Incremental Term Loan Commitments are to be added to (and
form a part of) an existing Tranche of Term Loans and to the extent any related breakage type
compensation is agreed to be paid by the respective Incremental Term Loan Borrower.

 

 

EXHIBIT Q

 

INTERCREDITOR AGREEMENT

dated as of April 12, 2006

among

DHM HOLDING COMPANY, INC.,

DOLE HOLDING COMPANY, LLC,

DOLE FOOD COMPANY, INC.,

the other GRANTORS from time to time party hereto,

DEUTSCHE BANK AG NEW YORK BRANCH,

as Collateral Agent

under the ABL Credit Agreement,

and

DEUTSCHE BANK AG NEW YORK BRANCH,

as Collateral Agent

under the Term Credit Agreement

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page
	Section 1. Definitions 
	 	 	2	 
	1.1. Defined Terms 
	 	 	2	 
	1.2. Terms Generally 
	 	 	20	 
	 
	 	 	 	 
	Section 2. TL Priority Collateral 
	 	 	20	 
	2.1. Lien Priorities 
	 	 	20	 
	2.2. Exercise of Remedies 
	 	 	22	 
	2.3. Payments Over 
	 	 	24	 
	2.4. Other Agreements 
	 	 	24	 
	2.5. Insolvency or Liquidation Proceedings 
	 	 	32	 
	2.6. Reliance; Waivers; Etc 
	 	 	34	 
	 
	 	 	 	 
	Section 3. ABL Priority Collateral 
	 	 	36	 
	3.1. Lien Priorities 
	 	 	36	 
	3.2. Exercise of Remedies 
	 	 	38	 
	3.3. Payments Over 
	 	 	40	 
	3.4. Other Agreements 
	 	 	41	 
	3.5. Insolvency or Liquidation Proceedings 
	 	 	48	 
	3.6. Reliance; Waivers; Etc 
	 	 	50	 
	 
	 	 	 	 
	Section 4. Cooperation With Respect To ABL Priority Collateral 
	 	 	52	 
	4.1. Consent to License to Use Intellectual Property 
	 	 	53	 
	4.2. Access to Information 
	 	 	53	 
	4.3. Access to Property to Process and Sell Inventory 
	 	 	53	 
	4.4. Term Collateral Agent Assurances 
	 	 	55	 
	4.5. Grantor Consent 
	 	 	56	 
	 
	 	 	 	 
	Section 5. Application Of Proceeds 
	 	 	56	 
	5.1. Application of Proceeds in Distributions by the Term Collateral Agent 
	 	 	56	 
	5.2. Application of Proceeds in Distributions by the ABL Collateral Agent 
	 	 	57	 
	 
	 	 	 	 
	Section 6. Miscellaneous 
	 	 	59	 
	6.1. Conflicts 
	 	 	59	 
	6.2. Effectiveness; Continuing Nature of this Agreement; Severability 
	 	 	59	 
	6.3. Amendments; Waivers 
	 	 	59	 
	6.4. Information Concerning Financial Condition of Holdings and its Subsidiaries
	 	 	59	 
	6.5. Submission to Jurisdiction; Waivers 
	 	 	60	 
	6.6. Notices 
	 	 	61	 
	6.7. Further Assurances 
	 	 	61	 
	6.8. APPLICABLE LAW 
	 	 	61	 
	6.9. Binding on Successors and Assigns 
	 	 	61	 
	6.10. Specific Performance 
	 	 	61	 
	6.11. Headings 
	 	 	62	 
	6.12. Counterparts 
	 	 	62	 
	6.13. Authorization; No Conflict 
	 	 	62	 
	6.14. No Third Party Beneficiaries 
	 	 	62	 

(i)

 

 

Table of Contents 

(continued)

	 	 	 	 	 
	 	 	Page
	6.15. Provisions Solely to Define Relative Rights 
	 	 	62	 
	6.16. Additional Grantors 
	 	 	63	 
	6.17. Avoidance Issues 
	 	 	63	 
	6.18. Intercreditor Agreement 
	 	 	63	 
	6.19. Foreign Collateral 
	 	 	63	 
	6.20. Intermediate Holdco Indebtedness; Intermediate Holdco Collateral 
	 	 	63	 
	6.21. Cash Collateral (Term Credit Agreement) 
	 	 	64	 

Exhibit A            Form of Intercreditor Agreement Joinder

(ii)

 

 

EXHIBIT Q

          This INTERCREDITOR AGREEMENT is dated as of April 12, 2006 and is by and among DHM HOLDING
COMPANY, INC., a Delaware corporation (“Holdings”), DOLE HOLDING COMPANY, LLC, a Delaware
limited liability company (“Intermediate Holdco”), DOLE FOOD COMPANY, INC., a Delaware
corporation (the “Company”), the other GRANTORS (as defined in Section 1.1) from time to
time party hereto, DEUTSCHE BANK AG NEW YORK BRANCH (in its individual capacity, and any successor
corporation thereto by merger, consolidation or otherwise, “DBAG”), as ABL Collateral Agent
(as defined below), and DBAG, as Term Collateral Agent (as defined below).

RECITALS:

          WHEREAS, certain of the Grantors have entered into a Credit Agreement, dated as of the date
hereof (as amended, supplemented, amended and restated or otherwise modified and in effect from
time to time, the “ABL Credit Agreement”), among Holdings, Intermediate Holdco, the
Company, as borrower, the lenders from time to time party thereto (the “ABL Lenders”),
DBAG, as administrative agent (in such capacity and together with its successors and assigns in
such capacity, the “ABL Administrative Agent”), DBAG, as collateral agent (in such
capacity and together with its successors and assigns in such capacity, the “ABL Collateral
Agent”), Banc of America Securities LLC (in its individual capacity, and any successor
corporation thereto by merger, consolidation or otherwise, “BAS”), as syndication agent,
Deutsche Bank Securities Inc. (in its individual capacity, and any successor corporation thereto
by merger, consolidation or otherwise, “DBSI”), as lead arranger and DBSI and BAS, as book running
managers, which provides for a $325,000,000 revolving credit facility to the Company (as such
aggregate principal amount may be increased pursuant to the terms thereof);

          WHEREAS, pursuant to the various ABL Credit Documents, Grantors have provided guarantees and
security for the ABL Obligations;

          WHEREAS, certain of the Grantors have entered into a Credit Agreement, dated as of the date
hereof (as amended, supplemented, amended and restated or otherwise modified and in effect from
time to time, the “Term Credit Agreement” and, together with the ABL Credit Agreement, the
“Credit Agreements”), among Holdings, Intermediate Holdco, the Company, as a borrower (in
such capacity, the “U.S. Term Borrower”) and Solvest, Ltd., a company organized under the
laws of Bermuda, as a borrower (in such capacity the “Bermuda Term Borrower” and, together
with the U.S. Term Borrower, the “Term Borrowers”), the lenders from time to time party
thereto (the “Term Lenders” and, together with the ABL Lenders, the “Lenders”), DBAG, as
administrative agent (in such capacity and together with its successors and assigns in such
capacity, the “Term Administrative Agent” and, together with the ABL Administrative Agent,
the “Administrative Agents”) and as deposit bank, DBAG, as collateral agent (in such
capacity and together with its successors and assigns in such capacity, the “Term Collateral
Agent” and, together with the ABL Collateral Agent, the “Collateral Agents” and,
together with the Administrative Agents, the “Agents”), DBSI, as lead arranger and sole
book runner, BAS, as syndication agent and The Bank of Nova Scotia (in its individual capacity,
and any successor corporation thereto by merger, consolidation or otherwise, “Scotia
Capital”), as syndication agent, which provides for a $175,000,000 term credit facility to the
U.S. Term Borrower, a $700,000,000 term credit facility to the Bermuda Term Borrower and a
$100,000,000 pre-funded letter of credit and bank guaranty facility to the U.S. Term Borrower
and/or the Bermuda Term Borrower (as the aggregate principal amount of such credit facilities may
be increased pursuant to the terms thereof);

 

 

Page 2

          WHEREAS, pursuant to the various ABL Credit Documents, Grantors have provided guarantees and
security for the ABL Obligations;

          WHEREAS, the Company and the other Grantors intend to secure the ABL Obligations under the
ABL Credit Agreement and any other ABL Documents (including any Permitted Refinancing thereof)
with a First Priority Lien on the ABL Priority Collateral and a Second Priority Lien on the TL
Priority Collateral; and

          WHEREAS, the Company and the other Grantors intend to secure the Term Obligations under the
Term Credit Agreement and any other Term Documents (including any Permitted Refinancing thereof)
with a First Priority Lien on the TL Priority Collateral and a Second Priority Lien on the ABL
Priority Collateral.

          NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows:

Section 1. Definitions.

          1.1. Defined Terms. The following terms when used in this Agreement, including its
preamble and recitals, shall have the following meanings:

          “ABL Administrative Agent” shall have the meaning set forth in the recitals
hereto.

          “ABL Collateral Agent” shall have the meaning set forth in the recitals hereto and
includes any New ABL Agent to the extent set forth in Section 3.4(f).

          “ABL Credit Agreement” shall have the meaning set forth in the recitals
hereto.

          “ABL Documents” shall mean the ABL Credit Agreement and the Credit Documents (as
defined in the ABL Credit Agreement) and each of the other agreements, documents and instruments
providing for or evidencing any ABL Obligations (including any Permitted Refinancing of any ABL
Obligations), and any other document or instrument executed or delivered at any time in connection
with any ABL Obligations (including any Permitted Refinancing of any ABL Obligations), together
with any amendments, replacements, modifications, extensions, renewals or supplements to, or
restatements of, any of the foregoing.

          “ABL Lenders” shall have the meaning set forth in the recitals hereto.

          “ABL Obligations” shall mean all obligations (including guaranty obligation) of every
nature of each Grantor from time to time owed to the ABL Secured Parties or any of them, under any
ABL Document (including any ABL Document in respect of a Permitted Refinancing of any ABL
Obligations), whether for principal, premium, interest (including interest which, but for the
filing of a petition in bankruptcy with respect to Holdings or any of its Subsidiaries, would have
accrued on any ABL Obligation (including any Permitted Refinancing of any ABL Obligations), whether
or not a claim is allowed against such Person for such interest in the related bankruptcy
proceeding), reimbursement of amounts drawn under (and obligations to cash collateralize) letters
of credit and bank guaranties, fees, expenses, indemnification or otherwise.

          “ABL Permitted Liens” shall mean the “Permitted Liens” under, and as defined in, the
ABL Credit Agreement as originally in effect.

 

 

Page 3

          “ABL Priority Collateral” shall mean, subject to the relevant provisions of Sections
6.21 and 6.22, all interests of each Grantor in the following, in each case whether now owned or
existing or hereafter acquired or arising and wherever located, including (1) all rights of each
Grantor to receive moneys due and to become due under or pursuant to the following, (2) all rights
of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity,
warranty or guaranty with respect to the following or to receive condemnation proceeds with
respect to the following, (3) all claims of each Grantor for damages arising out of or for breach
of or default under any of the following, and (4) all rights of each Grantor to terminate, amend,
supplement, modify or waive performance under any of the following, to perform thereunder and to
compel performance and otherwise exercise all remedies thereunder:

     (i) all Accounts and Receivables, but for purposes of this clause (i) excluding rights
to payment for any property which specifically constitutes TL Priority Collateral (and not
by virtue of clause (xi) of the definition thereof) which has been or is to be sold,
leased, licensed, assigned or otherwise disposed of;

     (ii) all Chattel Paper;

     (iii) all Deposit Accounts and all cash, checks, other negotiable instruments, funds
and other property held therein or credited thereto, and all Money (in each case, other
than the Asset Sale Proceeds Account, and all cash, checks, securities, financial assets or
other property held therein or credited thereto which constitute TL Priority Collateral and
all identifiable proceeds of any TL Priority Collateral);

     (iv) all Inventory;

     (v) to the extent evidencing or governing any of the items referred to in the preceding
clauses (i) through (iv), all General Intangibles, Instruments (including, without
limitation, Promissory Notes) and Letter of Credit Rights; provided that to the
extent any of the foregoing also relates to TL Priority Collateral, only that portion
related to the items referred to in the preceding clauses (i) through (iv) as being included
in the ABL Priority Collateral shall be included in the ABL Priority Collateral;

     (vi) to the extent relating to any of the items referred to in the preceding clauses
(i) through (v), all Documents and Insurance; provided that to the extent any of
the foregoing also relates to TL Priority Collateral only that portion related to the items
referred to in the preceding clauses (i) through (v) as being included in the ABL Priority
Collateral shall be included in the ABL Priority Collateral;

     (vii) to the extent relating to any of the items referred to in the preceding clauses
(i) through (vi), all Supporting Obligations; provided that to the extent any of
the foregoing also relates to TL Priority Collateral only that portion related to the items
referred to in the preceding clauses (i) through (vi) as being included in the ABL Priority
Collateral shall be included in the ABL Priority Collateral;

     (viii) all books, Records, Receivables Records and Collateral Records relating to the
foregoing (including without limitation all books, databases, customer lists, engineer
drawings, Records, Receivables Records and Collateral Records, whether tangible or
electronic, which contain any information relating to any of the foregoing); and

 

 

Page 4

     (ix) all Cash Proceeds, products, accessions, rents and profits of or in respect of any
of the foregoing (including without limitation, all insurance proceeds) and all collateral
security, guarantees and other Collateral Support given by any Person with respect to any of
the foregoing.

Notwithstanding anything to the contrary contained above or in the definition of the TL Priority
Collateral, to the extent proceeds of Collateral are identifiable proceeds received from the sale
or disposition of all or substantially all of the Capital Stock of any of the Domestic Subsidiaries
of Holdings which is a Grantor or all or substantially all of the assets of any such Domestic
Subsidiary, such proceeds shall constitute (1) first, in an amount equal to the net book value of
the Accounts (as described in clause (i) above, and excluding any Accounts to the extent excluded
pursuant to said clause (i)) and Inventory owned by such Domestic Subsidiary at the time of such
sale, ABL Priority Collateral and (2) second, to the extent in excess of the amounts described in
preceding clause (1), TL Priority Collateral.

          “ABL Priority Collateral Enforcement Actions” shall have the meaning set forth in
Section 4.3(a).

          “ABL Priority Collateral Lien” shall have the meaning set forth in Section
3.4(a).

          “ABL Priority Collateral Processing and Sale Period” shall have the meaning set forth
in Section 4.3(a).

          “ABL Secured Parties” shall mean the lenders (including, in any event, each letter of
credit issuer and each swingline lender) and agents under the ABL Credit Agreement and shall
include all former lenders and agents under the ABL Credit Agreement to the extent that any ABL
Obligations owing to such Persons were incurred while such Persons were lenders or agents under the
ABL Credit Agreement and such ABL Obligations have not been paid or satisfied in full and all new
ABL Secured Parties to the extent set forth in Section 3.4(f).

          “ABL Security Agreement” shall mean the Security Agreement (as defined in the ABL
Credit Agreement).

          “ABL Security Documents” shall mean the ABL Security Agreement and the other Security
Documents (as defined in the ABL Credit Agreement) and any other agreement, document or instrument
pursuant to which a Lien is granted securing any ABL Obligations (including any Permitted
Refinancing of any ABL Obligations) or under which rights or remedies with respect to such Liens
are governed, together with any amendments, replacements, modifications, extensions, renewals or
supplements to, or restatements of, any of the foregoing.

          “ABL Standstill Period” shall have the meaning set forth in Section 2.2(a) (Exercise
of Remedies).

          “Account” shall mean any “account” as such term is defined in the Uniform Commercial
Code as in effect on the date hereof in the State of New York, and in any event shall include but
shall not be limited to, all rights to payment of any monetary obligation, whether or not earned
by performance, (i) for property that has been or is to be sold, leased, licensed, assigned or
otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of
insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v)
for energy provided or to be

 

 

Page 5

provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising
out of the use of a credit or charge card or information contained on or for use with the card, or
(viii) as winnings in a lottery or other game of chance operated or sponsored by a State,
governmental unit of a State, or person licensed or authorized to operate the game by a State or
governmental unit of a State. Without limiting the foregoing, the term “account” shall include all
Health-Care-Insurance Receivables.

          “Administrative Agents” shall have the meaning set forth in the recitals
hereto.

          “Affiliate” shall mean, with respect to any Person, any other Person directly or
indirectly controlling (including but not limited to all directors and officers of such Person),
controlled by, or under direct or indirect common control with such Person. A Person shall be
deemed to control another Person if such Person possesses, directly or indirectly, the power (i)
to vote 10% or more of the securities having ordinary voting power for the election of directors
(or equivalent governing body) of such Person or (ii) to direct or cause the direction of the
management and policies of such other Person, whether through the ownership of voting securities,
by contract or otherwise; provided, however, that neither any Agent nor any Lender
(nor any Affiliate thereof) shall be considered an Affiliate of Holdings or any Subsidiary
thereof.

          “Agents” shall have the meaning set forth in the recitals hereto.

          “Agreement” shall mean this Intercreditor Agreement as the same may be amended,
modified, restated and/or supplemented from time to time in accordance with its terms.

          “Asset Sale Proceeds Account” shall mean one or more Deposit Accounts established by
the TL Collateral Agent into which there shall be deposited proceeds of sales or dispositions of TL
Priority Collateral (to the extent such proceeds constitute TL Priority Collateral).

          “Bankruptcy Code” shall mean Title 11 of the United States Code entitled
“Bankruptcy,” as now and hereafter in effect, or any successor statute.

          “Bankruptcy Law” shall mean the Bankruptcy Code, and any similar federal or state or
non-U.S. law or statute for the supervision, administration or relief of debtors, including,
without limitation, bankruptcy or insolvency laws.

          “BAS” shall have the meaning set forth in the recitals hereto.

          “Bermuda Term Borrower” shall have the meaning set forth in the recitals
hereto.

          “Business Day” shall mean any day except Saturday, Sunday and any day which shall be
in New York, New York, a legal holiday or a day on which banking institutions are authorized or
required by law or other government action to close.

          “Capital Lease” shall mean, as applied to any Person, any lease of any property
(whether real, person or mixed) by that Person as lessee that, in conformity with U.S. GAAP, is or
should be accounted for as a capital lease on the balance sheet of that Person.

          “Capital Stock” shall mean any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent
ownership interests in a Person (other than a corporation), including without limitation,
partnership interests and

 

 

Page 6

membership interests, and any and all warrants, rights or options to purchase or other arrangements
or rights to acquire any of the foregoing.

          “Capitalized Lease Obligations” shall mean, with respect to any Person, all
obligations under Capital Leases of such Person, in each case taken at the amount thereof
accounted for as indebtedness in accordance with U.S. GAAP.

          “Cash Proceeds” shall mean all proceeds of any Collateral received by any Grantor
consisting of cash and checks.

          “Chattel Paper” shall mean “chattel paper” as such term is defined in Article 9 of
the UCC, as in effect in the State of New York on the date hereof. Without limiting the foregoing,
the term “Chattel Paper” shall in any event include all “tangible chattel paper” and all
“electronic chattel paper”, as each term is defined in Article 9 of the UCC as in effect in the
State of New York.

          “Collateral” shall mean all property (whether real, personal, movable or immovable)
with respect to which any security interests have been granted (or purported to be granted) by any
Grantor pursuant to any Security Document.

          “Collateral Agents” shall have the meaning set forth in the recitals hereto.

          “Collateral Records” shall mean all books, records, ledger cards, files,
correspondence, customer lists, blueprints, technical specifications, manuals, computer software,
computer printouts, tapes, disks and related data processing software and similar items that at any
time evidence or contain information relating to any of the Collateral or are otherwise necessary
or helpful in the collection thereof or realization thereupon.

          “Collateral Support” shall mean all property (real or personal) assigned,
hypothecated or otherwise securing any Collateral and shall include any security agreement or
other agreement granting a lien or security interest in such real or personal property.

          “Commercial Tort Claims” shall mean all “commercial tort claims” as such term is
defined in Article 9 of the UCC as in effect in the State of New York on the date hereof.

          “Commodities Accounts” shall mean all “commodity accounts” as such term is defined in
Article 9 of the UCC as in effect in the State of New York on the date hereof.

          “Company” shall have the meaning set forth in the recitals hereto.

          “Comparable ABL Security Document” shall mean, in relation to any Collateral subject
to any Lien created under any Term Security Document, that ABL Document which creates (or purports
to create) a Lien on the same Collateral, granted by the same Grantor, as the same may be amended,
modified or otherwise supplemented from time to time in accordance with the terms hereof, thereof
and the Credit Agreements.

          “Comparable Term Security Document” shall mean, in relation to any Collateral subject
to any Lien created under any ABL Security Document, that Term Document which creates (or purports
to create) a Lien on the same Collateral, granted by the same Grantor, as the same may be amended,
modified or otherwise supplemented from time to time in accordance with the terms hereof, thereof
and the Credit Agreements.

 

 

Page 7

          “Contingent Obligation” shall mean, as to any Person, any obligation of such Person
as a result of such Person being a general partner of any other Person, unless the underlying
obligation is expressly made non-recourse as to such general partner, and any obligation of such
Person guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other
obligations (“primary obligations”) of any other Person (the “primary obligor”) in
any manner, whether directly or indirectly, including, without limitation, any obligation of such
Person, whether or not contingent, (i) to purchase any such primary obligation or any property
constituting direct or indirect security therefor, (ii) to advance or supply funds (x) for the
purchase or payment of any such primary obligation or (y) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring
the owner of any such primary obligation of the ability of the primary obligor to make payment of
such primary obligation or (iv) otherwise to assure or hold harmless the holder of such primary
obligation against loss in respect thereof; provided, however, that the term
Contingent Obligation shall not include endorsements of instruments for deposit or collection in
the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an
amount equal to the lesser of (x) the stated or determinable amount of the primary obligation in
respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof (assuming such Person is required to perform
thereunder) as determined by such Person in good faith and (y) the stated amount of such
Contingent Obligation.

          “Copyright Licenses” shall mean any and all agreements providing for the granting of
any right in or to Copyrights (whether such Grantor is licensee or licensor thereunder).

          “Copyrights” shall mean any United States or foreign copyright (including community
designs), now or hereafter owned by any Grantor, including, but not limited to, copyrights in
software and databases, and all Mask Works (as defined under 17 U.S.C. 901 of the U.S. Copyright
Act), whether registered or not registered, and, with respect to any and all of the foregoing: (i)
all registrations and applications therefor (whether in the United States Copyright Office or any
foreign equivalent office), (ii) all extensions and renewals thereof, (iii) all rights
corresponding thereto throughout the world, (iv) all rights to sue for past, present and future
infringements thereof and (v) all Proceeds of the foregoing, including licenses, royalties,
income, payments, claims, damages and proceeds of suit.

          “Credit Agreements” shall have the meaning set forth in the recitals hereto.

          “DBAG” shall have the meaning set forth in the recitals hereto.

          “DBSI” shall have the meaning set forth in the recitals hereto.

          “Defaulting ABL Secured Party” shall have the meaning set forth in Section
3.4(g).

          “Defaulting Term Secured Party” shall have the meaning set forth in Section
2.4(g).

          “Deposit Account” shall mean a demand, time, savings, passbook or like account with a
bank, savings and loan association, credit union or like organization, other than an account
evidenced by a negotiable certificate of deposit.

          “DIP Financing” shall have the meaning set forth in Section 2.5(a).

 

 

Page 8

          “Discharge of ABL Obligations” shall mean, except to the extent otherwise provided in
Section 3.4(f) (When Discharge of ABL Obligations Deemed to Not Have Occurred), the occurrence of
all of the following:

     (i) termination or expiration of all commitments to extend credit that would
constitute ABL Obligations;

     (ii) payment in full in cash of the principal of and interest and premium (if any) on
all ABL Obligations (other than any undrawn letters of credit or bank guaranties);

     (iii) discharge or cash collateralization (at 110% of the aggregate undrawn amount) of
all outstanding letters of credit and bank guaranties constituting ABL Obligations; and

     (iv) payment in full in cash of all other ABL Obligations that are outstanding and
unpaid at the time the termination, expiration, discharge and/or cash collateralization set
forth in clauses (i) through (iii) above have occurred (other than any obligations for
taxes, costs, indemnifications, reimbursements, damages and other contingent liabilities in
respect of which no claim or demand for payment has been made at such time).

          “Discharge of Term Obligations” shall mean, except to the extent otherwise provided
in Section 2.4(f) (When Discharge of Term Obligations Deemed to Not Have Occurred), the occurrence
of all of the following:

     (v) termination or expiration of all commitments to extend credit that would
constitute Term Obligations;

     (vi) payment in full in cash of the principal of and interest and premium (if any) on
all Term Obligations (other than any undrawn letters of credit or bank guaranties);

     (vii) discharge or cash collateralization (at 110% of the aggregate undrawn amount) of
all outstanding letters of credit and bank guaranties constituting Term Obligations; and

     (viii) payment in full in cash of all other Term Obligations that are outstanding and
unpaid at the time the termination, expiration, discharge and/or cash collateralization set
forth in clauses (i) through (iii) above have occurred (other than any obligations for
taxes, costs, indemnifications, reimbursements, damages and other contingent liabilities in
respect of which no claim or demand for payment has been made at such time).

Notwithstanding the foregoing, with respect to Intermediate Holdco and the Intermediate Holdco
Collateral, there shall not occur a Discharge of Term Obligations unless and until each of the
actions required pursuant to preceding clauses (i) through (iv) have occurred, and all commitments
pursuant to the Intermediate Holdco Credit Documents shall have terminated and all amounts owing
pursuant thereto (other than ongoing indemnities for which no claim has been made) have been paid
in full.

          “Documents” shall mean all “documents” as such term is defined in Article 9 of the
UCC in the State of New York on the date hereof.

 

 

Page 9

          “Domestic Subsidiary” shall have the meaning provided in the Term Credit Agreement as
originally in effect.

          “Eligible ABL Purchaser” shall have the meaning set forth in Section
2.4(g).

          “Eligible Term Purchaser” shall have the meaning set forth in
Section 3.4(g).

          “Equipment” shall mean any “equipment” as such term is defined in Article 9 of the
UCC as in effect in the State of New York on the date hereof, and in any event, shall include, but
shall not be limited to, all machinery, equipment, furnishings, appliances, furniture, fixtures,
tools, and vehicles now or hereafter owned by any Grantor in each case, regardless of whether
characterized as equipment under the UCC) and (y) and any and all additions, substitutions and
replacements of any of the foregoing and all accessions thereto, wherever located, whether or not
at any time of determination incorporated or installed therein or attached thereto, and all
replacements therefore, together with all attachments, components, parts, equipment and
accessories installed thereon or affixed thereto.

          “First Priority” shall mean, (i) with respect to any Lien purported to be created on
any ABL Priority Collateral pursuant to any ABL Security Document, that such Lien is prior in
right to any other Lien thereon, other than any ABL Permitted Liens (excluding ABL Permitted Liens
as described in clause (iii) of Section 10.03 of the ABL Credit Agreement as originally in effect)
applicable to such ABL Priority Collateral which as a matter of law (and giving effect to any
actions taken pursuant to the last paragraph of Section 10.03 of the ABL Credit Agreement) have
priority over the respective Liens on such ABL Priority Collateral created pursuant to the
relevant ABL Security Document and (ii) with respect to any Lien purported to be created on any TL
Priority Collateral pursuant to any Term Security Document, that such Lien is prior in right to
any other Lien thereon, other than any TL Permitted Liens (excluding TL Permitted Liens as
described in clause (iii) of Section 9.03 of the Term Credit Agreement as in effect on the date
hereof, after giving effect to the Restatement Effective Date as defined therein) applicable to
such TL Priority Collateral which as a matter of law (and giving effect to any actions taken
pursuant to the last paragraph of Section 9.03 of the Term Credit Agreement) have priority over
the respective Liens on such TL Priority Collateral created pursuant to the relevant Term Security
Document.

          “Fixtures” shall mean all “fixtures” as such term is defined in Article 9 of the UCC
as in effect in the State of New York on the date hereof.

          “Foreign Subsidiary” shall have the meaning provided in the Term Credit Agreement as
originally in effect.

          “General Intangibles” shall mean “general intangibles” as defined in Article 9 of the
UCC as in effect in the State of New York on the date hereof.

          “Goods” shall mean “goods” as such term is defined in Article 9 of the UCC as in
effect in the State of New York on the date hereof.

          “Grantors” shall mean Holdings, Intermediate Holdco, the Company and each of their
respective Domestic Subsidiaries that have executed and delivered, or may from time to time
hereafter execute and deliver, an ABL Security Document or a Term Security Document.

 

 

Page 10

          “Health-Care-Insurance Receivable” shall mean any “health-care-insurance receivable”
as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the
State of New York.

          “Hedge Agreement” shall mean any Interest Rate Protection Agreement and any Other
Hedging Agreement.

          “Holdings” shall have the meaning set forth in the recitals hereto.

          “Indebtedness” shall mean, as to any Person, without duplication, (i) all
indebtedness (including principal, interest, fees and charges) of such Person for borrowed money
or for the deferred purchase price of property or services, (ii) the maximum amount available to
be drawn or paid under all letters of credit, bankers’ acceptances, bank guaranties and similar
obligations issued for the account of such Person and all unpaid drawings and unreimbursed
payments in respect of such letters of credit, bankers’ acceptances, bank guaranties and similar
obligations, (iii) all indebtedness of the types described in clause (i), (ii), (iv), (v), (vi) or
(vii) of this definition secured by any Lien on any property owned by such Person, whether or not
such indebtedness has been assumed by such Person (provided that, if the Person has not
assumed or otherwise become liable in respect of such indebtedness, such indebtedness shall be
deemed to be in an amount equal to the fair market value of the property to which such Lien
relates as determined in good faith by such Person), (iv) the aggregate amount of all Capitalized
Lease Obligations of such Person, (v) all obligations of such Person to pay a specified purchase
price for goods or services, whether or not delivered or accepted, i.e., take-or-pay and
similar obligations, (vi) all Contingent Obligations of such Person, and (vii) all obligations
under any Interest Rate Protection Agreement, any Other Hedging Agreement or under any similar
type of agreement and (viii) obligations arising under Synthetic Leases.

          “Insolvency or Liquidation Proceeding” shall mean any of the following: (i) the
filing by any Grantor of a voluntary petition in bankruptcy under any provision of any bankruptcy
law (including, without limitation, the Bankruptcy Code) or a petition to take advantage of any
receivership or insolvency laws, including, without limitation, any petition seeking the
dissolution, winding up, total or partial liquidation, reorganization, composition, arrangement,
adjustment or readjustment or other relief of such Grantor, such Grantor’s debts or such Grantor’s
assets or the appointment of a trustee, receiver, liquidator, custodian or similar official for
such Grantor or a material part of such Grantor’s property; (ii) the admission in writing by such
Grantor of its inability to pay its debts generally as they become due; (iii) the appointment of a
receiver, liquidator, trustee, custodian or other similar official for such Grantor or all or a
material part of such Grantor’s assets; (iv) the filing of any petition against such Grantor under
any bankruptcy law (including, without limitation, the Bankruptcy Code) or other receivership or
insolvency law, including, without limitation, any petition seeking the dissolution, winding up,
total or partial liquidation, reorganization, composition, arrangement, adjustment or readjustment
or other relief of such Grantor, such Grantor’s debts or such Grantor’s assets or the appointment
of a trustee, receiver, liquidator, custodian or similar official for such Grantor or a material
part of such Grantor’s property; (v) the general assignment by such Grantor for the benefit of
creditors or any other marshalling of the assets and liabilities of such Grantor; or (vi) a
corporate (or similar) action taken by such Grantor to authorize any of the foregoing.

          “Instrument” shall mean “instruments” as such term is defined in Article 9 of the UCC
as in effect in the State of New York (provided, however, Instruments shall not include any
Instruments received in connection with grower loans extended in accordance with Section 9.05 of

 

 

Page 11

the Term Credit Agreement and Section 10.05 of the ABL Credit Agreement to the extent local law or
the relevant grower loan documents prohibit such pledge).

          “Insurance” shall mean (i) all insurance policies covering any or all of the
Collateral (regardless of whether the ABL Collateral Agent or the Term Collateral Agent is the
loss payee or additional insured thereof) and (ii) any key man life insurance policies.

          “Intellectual Property” shall mean, collectively, the Copyrights, the Copyright
Licenses, the Patents, the Patent Licenses, the Trademarks, the Trademark Licenses, the Trade
Secrets, and the Trade Secret Licenses.

          “Intercreditor Agreement Joinder” shall mean an agreement substantially in the form
of Exhibit A.

          “Interest Rate Protection Agreement” shall mean any interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement,
interest rate floor agreement or other similar agreement or arrangement.

          “Intermediate Holdco” shall have the meaning set forth in the recitals
hereto.

          “Intermediate Holdco Credit Document Obligations” shall have the meaning provided in
the Term Pledge Agreement as originally in effect.

          “Intermediate Holdco Credit Documents” shall have the meaning provided in the Term
Pledge Agreement as originally in effect.

          “Intermediate Holdco Creditor” shall have the meaning provided in the Term Pledge
Agreement as originally in effect.

          “Inventory” shall mean merchandise, inventory and goods, and all additions,
substitutions and replacements thereof and all accessions thereto, wherever located, together with
all goods, supplies, incidentals, packaging materials, labels, materials and any other items used
or usable in manufacturing, processing, packaging or shipping same, in all stages of production
from raw materials through work in process to finished goods, and all products and proceeds of
whatever sort and wherever located any portion thereof which may be returned, rejected, reclaimed
or repossessed by either of the Collateral Agents from any Grantor’s customers, and shall
specifically include all “inventory” as such term is defined in the UCC as in effect on the date
hereof in the State of New York.

          “Investment Accounts” shall mean all Securities Accounts, Commodities Accounts and
Deposit Accounts.

          “Investment Property” shall mean (i) all “investment property” as such term is
defined in Article 9 of the UCC as in effect in the State of New York on the date hereof.

          “Joint Venture” shall mean a joint venture, partnership or other similar arrangement,
whether in corporate, partnership or other legal form; provided, in no event shall any
corporate subsidiary of any Person be considered to be a Joint Venture to which such Person is a
party.

          “Lender” shall have the meaning set forth in the recitals hereto.

 

 

Page 12

          “Letter of Credit Rights” shall mean “letter-of-credit rights” as such term is
defined in Article 9 of the UCC as in effect in the State of New York on the date hereof.

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, charge, lien (statutory or other), charge,
preference, priority or other security agreement of any kind or nature whatsoever (including any
agreement to give any of the foregoing, any conditional sale or other title retention agreement,
any financing or similar statement or notice filed under the UCC or any similar recording or
notice statute or other law, and any lease having substantially the same effect as the foregoing).

          “Material Contract” shall mean any contract or other arrangement to which Holdings or
any of its Subsidiaries is a party (other than the Term Documents and ABL Documents) for which
breach, nonperformance, cancellation or failure to renew could reasonable be expected to have a
Material Adverse Effect (as defined in the Term Credit Agreement or the ABL Credit Agreement, as
applicable).

          “Money” shall mean “money” as defined in the UCC as in effect in the State of New York
on the date hereof.

          “New ABL Agent” shall have the meaning set forth in Section
3.4(f).

          “New Term Agent” shall have the meaning set forth
in Section 2.4(f).

          “Other Hedging Agreements” shall mean any foreign exchange contracts, currency swap
agreements or other similar agreements or arrangements designed to protect against fluctuations in
currency values.

          “Patent Licenses” shall mean all agreements providing for the granting of any right
in or to Patents (whether such Grantor is licensee or licensor thereunder).

          “Patents” shall mean all patents (whether United States or foreign) in or to which
any Grantor now has or hereafter has any right, title or interest therein and certificates of
invention, or similar industrial property rights, and applications for any of the foregoing,
including, but not limited to: (i) all reissues, divisions, continuations (including, but not
limited to, continuations-in-part and improvements thereof), extensions, renewals, and
reexaminations thereof, (ii) all rights corresponding thereto throughout the world, (ii) all
inventions and improvements described therein, (iii) all rights to sue for past, present and
future infringements thereof, (iv) all licenses, claims, damages, and proceeds of suit arising
therefrom, and (v) all Proceeds of the foregoing, including licenses, royalties, income, payments,
claims, damages, and proceeds of suit.

          “Permitted Refinancing” shall mean, as to any Indebtedness, the Refinancing of such
Indebtedness (“Refinancing Indebtedness”) to refinance such existing Indebtedness;
provided that, in the case of such Refinancing Indebtedness, the following conditions are
satisfied:

     (ix) the weighted average life to maturity of such Refinancing Indebtedness shall be
greater than or equal to the weighted average life to maturity of the Indebtedness being
refinanced, and the first scheduled principal payment in respect of such Refinancing
Indebtedness shall not be earlier than the first scheduled principal payment in respect of
the Indebtedness being refinanced;

 

 

Page 13

     (x) the principal amount of such Refinancing Indebtedness shall be less than or equal
to the principal amount then outstanding of the Indebtedness being refinanced, except to
the extent an increase in the principal amount thereof is permitted at such time pursuant
to the ABL Documents and Term Documents which then remain in effect; and

     (xi) the terms applicable to such Refinancing Indebtedness and, if applicable, the
related guarantees of such Refinancing Indebtedness, shall not violate the applicable
requirements contained in any Term Documents or ABL Documents which remain outstanding
after giving effect to the respective Permitted Refinancing.

          “Person” shall mean any individual, partnership, joint venture, firm, corporation,
limited liability company, association, trust or other enterprise or any government or political
subdivision or any agency, department or instrumentality thereof.

          “Pledged ABL Priority Collateral” shall have the meaning set forth in Section 3.4(e)
(Bailee for Perfection).

          “Pledged Debt” shall mean all Indebtedness owed to a Grantor issued by the obligors
named therein, the instruments evidencing such Indebtedness, and all interest, cash, instruments
and other property or proceeds from time to time received, receivable or otherwise distributed in
respect of or in exchange for any or all of such Indebtedness.

          “Pledged Equity Interests” shall mean all Pledged Stock, Pledged LLC Interests,
Pledged Partnership Interests and Pledged Trust Interests.

          “Pledged LLC Interests” shall mean all interests in any limited liability company and
the certificates, if any, representing such limited liability company interests and any interest of
a Grantor on the books and records of such limited liability company or on the books and records of
any securities intermediary pertaining to such interest and all dividends, distributions, cash,
warrants, rights, options, instruments, securities and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of such
limited liability company interests.

          “Pledged Partnership Interests” shall mean all interests in any general partnership,
limited partnership, limited liability partnership or other partnership and the certificates, if
any, representing such partnership interests and any interest of a Grantor on the books and
records of such partnership or on the books and records of any securities intermediary pertaining
to such interest and all dividends, distributions, cash, warrants, rights, options, instruments,
securities and other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such partnership interests.

          “Pledged Stock” shall mean all shares of capital stock owned by a Grantor, and the
certificates, if any, representing such shares and any interest of a Grantor in the entries on the
books of the issuer of such shares or on the books of any securities intermediary pertaining to
such shares, and all dividends, distributions, cash, warrants, rights, options, instruments,
securities and other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such shares.

 

 

Page 14

          “Pledged TL Priority Collateral” shall have the meaning set forth in Section 2.4(e)
(Bailee for Perfection).

          “Pledged Trust Interests” shall mean all interests in a Delaware business trust or
other trust (whether under the laws of the State of Delaware or otherwise) and the certificates,
if any, representing such trust interests and any interest of a Grantor on the books and records
of such trust or on the books and records of any securities intermediary pertaining to such
interest and all dividends, distributions, cash, warrants, rights, options, instruments,
securities and other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such trust interests.

          “Proceeds” shall mean all “proceeds” as such term is defined in Article 9 of the UCC
as in effect in the State of New York and, in any event, shall also include, but not be limited to,
(i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to either
Collateral Agent or any Grantor from time to time with respect to any of the Collateral, (ii) any
and all payments (in any form whatsoever) made or due and payable to any Grantor from time to time
in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any
part of the Collateral by any governmental authority (or any person acting under color of
governmental authority) and (iii) any and all other amounts from time to time paid or payable under
or in connection with any of the Collateral.

          “Processing and Sale Period” shall have the meaning set forth in Section 4.3(a)
(Access to Property to Process and Sell Inventory).

          “Promissory Note” shall mean a “promissory note” as such term is defined in Article 9
of the UCC as in effect in the State of New York on the date hereof.

          “Receivables” shall mean all rights to payment, whether or not earned by performance,
for goods or other property sold, leased, licensed, assigned or otherwise disposed of, or services
rendered or to be rendered, including, without limitation all such rights constituting or
evidenced by any Account, Chattel Paper, Instrument, General Intangible or Investment Property,
together with all of a Grantor’s rights, if any, in any goods or other property giving rise to
such right to payment and all Collateral Support and Supporting Obligations related thereto and
all Receivables Records.

          “Receivables Records” shall mean (i) all original copies of all documents,
instruments or other writings or electronic records or other Records evidencing Receivables, (ii)
all books, correspondence, credit or other files, Records, ledger sheets or cards, invoices, and
other papers relating to Receivables, including, without limitation, all tapes, cards, computer
tapes, computer discs, computer runs, record keeping systems and other papers and documents
relating to Receivables, whether in the possession or under the control of a Grantor or any
computer bureau or agent from time to time acting for a Grantor or otherwise, (iii) all evidences
of the filing of financing statements and the registration of other instruments in connection
therewith, and amendments, supplements or other modifications thereto, notices to other creditors
or secured parties, and certificates, acknowledgments, or other writings, including, without
limitation, lien search reports, from filing or other registration officers, (iv) all credit
information, reports and memoranda relating thereto and (v) all other written or nonwritten forms
of information related in any way to the foregoing or any Receivable.

 

 

Page 15

          “Record” shall have the meaning specified in Article 9 of the UCC as in effect in the
State of New York on the date hereof.

          “Recovery” shall have the meaning set forth in Section 6.17 (Avoidance
Issues).

          “Refinance” shall mean, in respect of any Indebtedness, to refinance, extend, renew,
retire, defease, amend, modify, supplement, restructure, replace, refund or repay, or to issue
other Indebtedness, in exchange or replacement for, such Indebtedness in whole or in part.
“Refinanced” and “Refinancing” shall have correlative meanings.

          “Second Priority” shall mean, (i) with respect to any Lien purported to be created on
any TL Priority Collateral pursuant to the ABL Security Documents, that such Lien is prior in right
to any other Lien thereon, other than (x) Liens permitted pursuant to clause (y) of Section
10.03(iii) of the ABL Credit Agreement as in effect on the date hereof and (y) TL Permitted Liens
permitted to be prior to the Liens on the TL Priority Collateral in accordance with clause (ii) of
the definition “First Priority” contained herein; provided that in no event (except as
expressly contemplated by Section 6.20(b) hereof) shall any such TL Permitted Lien be permitted (on
a consensual basis) to be junior and subordinate to any ABL Permitted Liens as described in clause
(x) above and senior in priority to the relevant Liens created pursuant to the ABL Security
Documents and (ii) with respect to any Lien purported to be created on any ABL Priority Collateral
pursuant to the Term Security Documents, that such Lien is prior in right to any other Lien
thereon, other than (x) Liens permitted pursuant to clause (y) of Section 9.03(iii) of the Term
Credit Agreement as in effect on the date hereof (and after giving effect to the Restatement
Effective Date as defined therein) and (y) ABL Permitted Liens permitted to be prior to the Liens
on the ABL Priority Collateral in accordance with clause (i) of the definition “First Priority”
contained herein; provided that in no event shall any such ABL Permitted Lien be permitted
(on a consensual basis) to be junior and subordinate to any TL Permitted Liens as described in
clause (x) above and senior in priority to the relevant Liens created pursuant to the Term Security
Documents.

          “Scotia Capital” shall have the meaning set forth in the recitals hereto.

          “Secured Hedge Counterparty” shall have the meaning provided in the Term Credit
Agreement as originally in effect.

          “Secured Parties” shall mean the ABL Secured Parties and the Term Secured Parties.

          “Securities” shall mean all “securities” as such term is defined in Article 8 of the
UCC as in effect on the date hereof, any stock, shares, partnership interests, voting trust
certificates, certificates of interest or participation in any profit sharing agreement or
arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness,
secured or unsecured, convertible, subordinated or otherwise, or in general any instruments
commonly known as “securities” or any certificates of interest, shares or participations in
temporary or interim certificates for the purchase or acquisition of, or any right to subscribe
to, purchase or acquire, any of the foregoing.

          “Securities Accounts” shall mean all “securities accounts” as such term is defined in
Article 8 of the UCC as in effect on the date hereof.

 

 

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          “Securities Entitlements” shall mean all “securities entitlements” as such term is
defined in Article 8 of the UCC as in effect on the date hereof.

          “Subsidiary” shall mean, with respect to any Person, any corporation, partnership,
limited liability company, association, joint venture or other business entity of which more than
50% of the total voting power of shares of stock or other ownership interests entitled (without
regard to the occurrence of any contingency) to vote in the election of the Person or Persons
(whether directors, managers, trustees or other Persons performing similar functions) having the
power to direct or cause the direction of the management and policies thereof is at the time owned
or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of
that Person or a combination thereof; provided, in determining the percentage of ownership
interests of any Person controlled by another Person, no ownership interest in the nature of a
“qualifying share” of the former Person shall be deemed to be outstanding.

          “Supporting Obligations” shall mean any “supporting obligation” as such term is
defined in the UCC as in effect in the State of New York as in effect on the date hereof, now or
hereafter owned by any Grantor, or in which any Grantor has any rights, and, in any event, shall
include, but shall not be limited to all of such Grantor’s rights in any Letter-of-Credit Right or
secondary obligation that supports the payment or performance of, and all security for, any
Collateral consisting of Accounts, Chattel Paper, Documents, General Intangibles, Instruments or
Investment Properties.

          “Synthetic Lease” shall mean, as applied to any Person, any lease (including leases
that may be terminated by the lessee at any time) of any property (whether real, personal or
mixed), (i) that is not a capital lease in accordance with U.S. GAAP and (ii) in respect of which
the lessee retains or obtains ownership of the property so leased for federal income tax purposes,
other than any such lease under which that Person is the lessor.

          “Term Administrative Agent” shall have the meaning set forth in the recitals
hereto.

          “Term Borrower” shall have the meaning set forth in the recitals
hereto.

          “Term Collateral Agent” shall have the meaning set forth in the recitals hereto and
includes any New Term Agent to the extent set forth in Section 2.4(f).

          “Term Collateral Priority Lien” shall have the meaning set forth in Section
2.4(a).

          “Term Credit Agreement” shall have the meaning set forth in the
recitals hereto.

          “Term Documents” shall mean (x) the Term Credit Agreement and the Credit Documents
(as defined in the Term Credit Agreement), (y) each Interest Rate Protection Agreement or Other
Hedging Agreement with one or more Secured Hedge Counterparties which is secured pursuant to one
or more of the Security Documents (as defined in the Term Credit Agreement) and (z) each of the
other agreements, documents and instruments providing for or evidencing any Term Obligation
(including any Permitted Refinancing of any Term Obligation), and any other document or instrument
executed or delivered at any time in connection with any Term Obligation (including any Permitted
Refinancing of any Term Obligation), together with any amendments, replacements, modifications,
extensions, renewals or supplements to, or restatements of, any of the foregoing.

 

 

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          “Term Lenders” shall have the meaning set forth in the recitals hereto.

          “Term Obligations” shall mean all obligations (including guaranty obligations) of
every nature of each Grantor, from time to time owed to the Term Secured Parties or any of them,
under any Term Document (including any Term Document in respect of a Permitted Refinancing of any
Term Obligations), whether for principal, premium, interest (including interest which, but for the
filing of a petition in bankruptcy with respect to such Person, would have accrued on any Term
Obligation (including any Permitted Refinancing of any Term Obligations), whether or not a claim is
allowed against Holdings or any of its Subsidiaries for such interest in the related bankruptcy
proceeding), reimbursement of amounts drawn under (and obligations to cash collateralize) letters
of credit and bank guaranties, fees, expenses, indemnification or otherwise.

          “Term Pledge Agreement” shall mean the U.S. Pledge Agreement (as defined in the Term
Credit Agreement).

          “Term Secured Parties” shall mean the lenders and agents under the Term Credit
Agreement and the Secured Hedge Counterparties and shall include all former lenders and agents
under the Term Credit Agreement and Secured Hedge Counterparties to the extent that any Term
Obligations owing to such Persons were incurred while such Persons were lenders or agents under
the Term Credit Agreement or Secured Hedge Counterparties and such Term Obligations have not been
paid or satisfied in full and all new Term Secured Parties to the extent set forth in Section
2.4(f) hereof.

          “Term Security Agreement” shall mean the U.S. Security Agreement (as defined in the
Term Credit Agreement).

          “Term Security Documents” shall mean the Term Security Agreement and other the
Security Documents (as defined in the Term Credit Agreement) and any other agreement, document or
instrument pursuant to which a Lien is granted securing any Term Obligations (including any
Permitted Refinancing of any Term Obligation) or under which rights or remedies with respect to
such Liens are governed, together with any amendments, replacements, modifications, extensions,
renewals or supplements to, or restatements of, any of the foregoing.

          “Term Standstill Period” shall have the meaning set forth in Section 3.2(a) (Exercise
of Remedies).

          “TL Permitted Liens” shall mean the “Permitted Liens” under, and as defined in, the
TL Credit Agreement as in effect on the Restatement Effective Date (as defined therein).

          “TL Priority Collateral” shall mean, subject to the relevant provisions of Sections
6.21 and 6.22, all interests of each Grantor in the following, in each case whether now owned or
existing or hereafter acquired or arising and wherever located, including (1) all rights of each
Grantor to receive moneys due and to become due under or pursuant to the following, (2) all rights
of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity,
warranty or guaranty with respect to the following or to receive condemnation proceeds with
respect to the following, (3) all claims of each Grantor for damages arising out of or for breach
of or default under any of the following, and (4) all rights of each Grantor to terminate, amend,
supplement, modify or waive performance under any of the following, to perform thereunder and to
compel performance and otherwise exercise all remedies thereunder:

 

 

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     (xii) the Asset Sale Proceeds Account;

     (xiii) all Equipment;

     (xiv) all Fixtures;

     (xv) all General Intangibles, including, without limitation, Material Contracts (in each case
other than General Intangibles evidencing or governing ABL Priority Collateral);

     (xvi) all Instruments (other than Instruments evidencing or governing or attached to (to the
extent so attached) ABL Priority Collateral);

     (xvii) all Letter of Credit Rights (other than Letter of Credit Rights addressed in clause
(v) of the definition of “ABL Priority Collateral” herein);

     (xviii) without duplication, all Pledged Equity Interests, all Pledged Debt, all Securities,
all Security Entitlements and all Securities Accounts (in each case, other than any Collateral
specifically listed as ABL Priority Collateral and any Supporting Obligations supporting ABL
Priority Collateral);

     (xix) all Intellectual Property;

     (xx) all
Commercial Tort Claims;

     (xxi) all real property (including leasehold interests) on which the Grantors are required to
provide a Lien to the Term Secured Parties pursuant to the Term Credit Agreement and any title
insurance with respect to such real property and the proceeds thereof;

     (xxii) except to the extent constituting, or relating to, the ABL Priority Collateral, all
other personal property (whether tangible or intangible) of such Grantor;

     (xxiii) to the extent constituting, or relating to, any of the items referred to in the
preceding clauses (i) through (xi), all Documents and Insurance; provided that to the
extent any of the foregoing also relates to ABL Priority Collateral only that portion related to
the items referred to in the preceding clauses (i) through (xi) as being included in the TL
Priority Collateral shall be included in the TL Priority Collateral;

     (xxiv) to the extent relating to any of the items referred to in the preceding clauses (i)
through (xii), all Supporting Obligations; provided that to the extent any of the
foregoing also relates to ABL Priority Collateral only that portion related to the items referred
to in the preceding clauses (i) through (xii) as being included in the TL Priority Collateral
shall be included in the TL Priority Collateral;

     (xxv) all books, Records and Collateral Records relating to the foregoing (including without
limitation all books, databases, customer lists, engineer drawings, Records and Collateral
Records, whether tangible or electronic, which contain any information relating to any of the
foregoing); provided that to the extent any of such books, Records and Collateral Records
also relates to ABL Priority Collateral only that portion related to the items referred

 

 

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to in the preceding clauses (i) through (xiii) as being included in the TL Priority
Collateral shall be included in the TL Priority Collateral; and

     (xxvi) all Cash Proceeds and, solely to the extent not constituting ABL Priority
Collateral, non-Cash Proceeds, products, accessions, rents and profits of or in respect of
any of the foregoing and all collateral security, guarantees and other Collateral Support
given by any Person with respect to any of the foregoing.

Notwithstanding anything to the contrary contained above or in the definition of ABL Priority
Collateral, to the extent proceeds of Collateral are identifiable proceeds received from the sale
or disposition of all or substantially all of the Capital Stock of any of the Domestic Subsidiaries
of Holdings which is a Grantor or all or substantially all of the assets of any such Domestic
Subsidiary, such proceeds shall constitute (1) first, in an amount equal to the net book value of
the Accounts (as described in clause (i) of the definition of ABL Priority Collateral, and
excluding any Accounts to the extent excluded pursuant to said clause (i)) and Inventory owned by
such Domestic Subsidiary at the time of such sale, ABL Priority Collateral and (2) second, to the
extent in excess of the amounts described in preceding clause (1), TL Priority Collateral.

          “TL Priority Collateral Enforcement Action Notice” shall have the meaning set forth
in Section 4.3(a).

          “TL Priority Collateral Enforcement Actions” shall have the meaning set forth in
Section 4.3(a).

          “Trademark Licenses” shall mean any and all agreements providing for the granting of
any right in or to Trademarks (whether such Grantor is licensee or licensor thereunder).

          “Trademarks” shall mean (i) all United States and foreign trademarks, trade names,
corporate names, company names, business names, fictitious business names, Internet domain names,
service marks, certification marks, collective marks, logos, other source or business identifiers,
designs and general intangibles of a like nature, all registrations and applications for any of
the foregoing, (ii) all extensions or renewals of any of the foregoing, (iii) all of the goodwill
of the business connected with the use of and symbolized by the foregoing, (iv) the right to sue
for past, present and future infringement or dilution of any of the foregoing or for any injury to
goodwill, and (v) all Proceeds of the foregoing, including licenses, royalties, income, payments,
claims, damages, and proceeds of suit.

          “Trade Secret Licenses” shall mean any and all agreements providing for the granting
of any right in or to Trade Secrets (whether a Grantor is licensee or licensor thereunder).

          “Trade Secrets” shall mean all trade secrets and all other confidential or
proprietary information and know-how whether or not such Trade Secret has been reduced to a
writing or other tangible form, including all documents and things embodying, incorporating, or
referring in any way to such Trade Secret, including but not limited to: (i) any secretly held
existing engineering or other data, information, production procedures and other know-how relating
to the design manufacture, assembly, installation, use, operation, marketing, sale and/or
servicing of any products or business of any Grantor worldwide, (ii) the right to sue for past,
present and future misappropriation or other violation of any Trade Secret, and (iii) all Proceeds
of the foregoing, including licenses, royalties, income, payments, claims, damages, and proceeds
of suit.

 

 

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          “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the
relevant jurisdiction.

          “U.S. GAAP” shall mean generally accepted accounting principles in the United States
of America as in effect from time to time.

          “U.S. Term Borrower” shall have the meaning set forth in the recitals
hereto.

          1.2. Terms Generally. The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement, instrument or other
document as from time to time amended, supplemented or otherwise modified, (b) any reference
herein to any Person shall be construed to include such Person’s successors and assigns, (c) the
words “herein”, “hereof and “hereunder”, and words of similar import, shall be construed to refer
to this Agreement in its entirety and not to any particular provision of this Agreement, (d) all
references herein to Exhibits or Sections shall be construed to refer to Exhibits or Sections of
this Agreement, (e) the words “asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights, (f) terms defined in the UCC but not otherwise
defined herein shall have the same meanings herein as are assigned thereto in the UCC, (g)
reference to any law means such law as amended, modified, codified, replaced or re-enacted, in
whole or in part, and in effect on the date hereof, including rules, regulations, enforcement
procedures and any interpretations promulgated thereunder, and (h) references to Sections or
clauses shall refer to those portions of this Agreement, and any references to a clause shall,
unless otherwise identified, refer to the appropriate clause within the same Section in which such
reference occurs.

Section 2. TL Priority Collateral.

          2.1. Lien Priorities.

          (a) Relative Priorities. Notwithstanding (i) the time, manner, order or method of
grant, creation, attachment or perfection of any Liens securing the ABL Obligations granted on the
TL Priority Collateral or of any Liens securing the Term Obligations granted on the TL Priority
Collateral, (ii) the validity or enforceability of the security interests and Liens granted in
favor of any Collateral Agent or any Secured Party on the TL Priority Collateral, (iii) the date on
which any ABL Obligations or Term Obligations is extended, (iv) any provision of the UCC or any
other applicable law, including any rule for determining priority thereunder or under any other law
or rule governing the relative priorities of secured creditors, including with respect to real
property or fixtures, (v) any provision set forth in any ABL Document or any Term Document (other
than this Agreement), (vi) the possession or control by any Collateral Agent or any Secured Party
or any bailee of all or any part of any TL Priority Collateral as of the date hereof or otherwise,
or (vii) any other circumstance whatsoever, the ABL Collateral Agent, on behalf of itself and the
ABL Secured Parties, hereby agrees that:

 

 

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     (i) any Lien on the TL Priority Collateral securing any Term Obligations now or
hereafter held by or on behalf of the Term Collateral Agent or any Term Secured Parties or
any agent or trustee therefor, regardless of how acquired, whether by grant, possession,
statute, operation of law, subrogation or otherwise, shall be senior in all respects and
prior to any Lien on the TL Priority Collateral securing any of the ABL Obligations; and

     (ii) any Lien on the TL Priority Collateral now or hereafter held by or on behalf of
the ABL Collateral Agent or any ABL Secured Parties or any agent or trustee therefor
regardless of how acquired, whether by grant, possession, statute, operation of law,
subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on
the TL Priority Collateral securing any Term Obligations.

All Liens on the TL Priority Collateral securing any Term Obligations shall be and remain senior
in all respects and prior to all Liens on the TL Priority Collateral securing any ABL Obligations
for all purposes, whether or not such Liens securing any Term Obligations are subordinated to any
Lien securing any other obligation of the Company, any other Grantor or any other Person.

          (b) Prohibition on Contesting Liens. Each of the ABL Collateral Agent, for itself and
on behalf of each ABL Secured Party, and the Term Collateral Agent, for itself and on behalf of
each Term Secured Party, agrees that it shall not (and hereby waives any right to) contest or
support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation
Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any of
the Term Secured Parties in the TL Priority Collateral or by or on behalf of any of the ABL Secured
Parties in the TL Priority Collateral, as the case may be or (ii) the validity or enforceability of
any ABL Security Document (or any ABL Obligations thereunder) or any Term Security Document (or any
Term Obligations thereunder); provided that nothing in this Agreement shall be construed to
prevent or impair the rights of either of the Collateral Agents or any Secured Party to enforce
this Agreement, including the priority of the Liens on the TL Priority Collateral securing the Term
Obligations and the ABL Obligations as provided in Sections 2.1 (a) (Relative Priorities) and
2.2(a) (Exercise of Remedies).

          (c) No New Liens. So long as the Discharge of Term Obligations has not occurred,
the parties hereto agree that the Company or any other Grantor shall not grant or permit any
additional Liens on any asset or property of any Grantor to secure any ABL Obligation unless it has
granted or contemporaneously grants (i) a First Priority Lien on such asset or property to secure
the Term Obligations if such asset or property constitutes TL Priority Collateral or (ii) a Second
Priority Lien on such asset or property to secure the Term Obligations if such asset or property
constitutes ABL Priority Collateral. To the extent that the provisions of clause (i) in the
immediately preceding sentence are not complied with for any reason, without limiting any other
rights and remedies available to the Term Collateral Agent and/or the Term Secured Parties, the ABL
Collateral Agent, on behalf of ABL Secured Parties, agrees that any amounts received by or
distributed to any of them pursuant to or as a result of Liens on the TL Priority Collateral
granted in contravention of such clause (i) of this Section 2.1(c) shall be subject to Section 2.3
(Payments Over).

          (d) Effectiveness of Lien Priorities. Each of the parties hereto acknowledges that the
Lien priorities provided for in this Agreement shall not be affected or impaired in any manner
whatsoever, including, without limitation, on account of: (i) the invalidity,
irregularity or unenforceability of all or any part of the ABL Documents or the Term Documents;
(ii) any amendment, change or modification of any ABL Documents or Term Documents; or (iii) any

 

 

Page 22

impairment, modification, change, exchange, release or subordination of or limitation on, any
liability of, or stay of actions or lien enforcement proceedings against, Holdings or any of its
Subsidiaries party to any of the ABL Documents or the Term Documents, its property, or its estate
in bankruptcy resulting from any bankruptcy, arrangement, readjustment, composition, liquidation,
rehabilitation, similar proceeding or otherwise involving or affecting any Secured Party.

          2.2. Exercise of Remedies.

          (a) So long as the Discharge of Term Obligations has not occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against Holdings, the Company or any
other Grantor:

     (i) neither the ABL Collateral Agent nor any of the ABL Secured Parties (x) will
exercise or seek to exercise any rights or remedies (including, without limitation, setoff)
with respect to any TL Priority Collateral (including, without limitation, the exercise of
any right under any lockbox agreement, account control agreement, landlord waiver or
bailee’s letter or similar agreement or arrangement in respect of TL Priority Collateral to
which the ABL Collateral Agent or any ABL Secured Party is a party) or institute or
commence, or join with any Person (other than the Term Collateral Agent and the Term Secured
Parties) in commencing any action or proceeding with respect to such rights or remedies
(including any action of foreclosure), enforcement, collection or execution; provided,
however, that the ABL Collateral Agent may exercise any or all such rights after the
passage of a period of 180 days from the date of delivery of a notice in writing to the Term
Collateral Agent of the ABL Collateral Agent’s intention to exercise its right to take such
actions (the “ABL Standstill Period”); provided, further, however,
notwithstanding anything herein to the contrary, neither the ABL Collateral Agent nor any
ABL Secured Party will exercise any rights or remedies with respect to any TL Priority
Collateral if, notwithstanding the expiration of the ABL Standstill Period, the Term
Collateral Agent or Term Secured Parties shall have commenced the exercise of any of their
rights or remedies with respect to all or any portion of the TL Priority Collateral (prompt
notice of such exercise to be given to the ABL Collateral Agent) and are pursuing the
exercise thereof, (y) will contest, protest or object to any foreclosure proceeding or
action brought by the Term Collateral Agent or any Term Secured Party with respect to, or
any other exercise by the Term Collateral Agent or any Term Secured Party of any rights and
remedies relating to, the TL Priority Collateral under the Term Documents or otherwise, and
(z) subject to its rights under clause (i)(x) above, will object to the forbearance by the
Term Collateral Agent or the Term Secured Parties from bringing or pursuing any foreclosure
proceeding or action or any other exercise of any rights or remedies relating to the TL
Priority Collateral, in each case so long as the respective interests of the ABL Secured
Parties attach to the proceeds thereof subject to the relative priorities described in
Section 2.1 (Lien Priorities); provided, however, that nothing in this Section
2.2(a) shall be construed to authorize the ABL Collateral Agent or any ABL Secured Party to
sell any TL Priority Collateral free of the Lien of the Term Collateral Agent or any Term
Secured Party; and

     (ii) subject to Section 4 (Cooperation with respect to ABL Priority Collateral), the
Term Collateral Agent and the Term Secured Parties shall have the exclusive right to
enforce rights, exercise remedies (including set off and the right to credit bid their
debt) and make determinations regarding the disposition of, or restrictions with respect
to, the TL Priority Collateral without any consultation with or the consent of the ABL
Collateral Agent or any ABL Secured Party; provided, that:

 

 

Page 23

     (1) the ABL Collateral Agent may take any action (not adverse to the prior Liens on
the TL Priority Collateral securing the Term Obligations, or the rights of any Term
Collateral Agent or the Term Secured Parties to exercise remedies in respect thereof) in
order to preserve or protect its Lien on the TL Priority Collateral;

     (2) the ABL Secured Parties shall be entitled to file any necessary responsive or
defensive pleadings in opposition to any motion, claim, adversary proceeding or other
pleading made by any person objecting to or otherwise seeking the disallowance of the
claims of the ABL Secured Parties, including without limitation any claims secured by the
TL Priority Collateral, if any, in each case in accordance with the terms of this
Agreement;

     (3) the ABL Secured Parties shall be entitled to file any pleadings, objections,
motions or agreements which assert rights or interests available to unsecured creditors
of the Grantors arising under either the Bankruptcy Law or applicable non-bankruptcy law,
in each case in accordance with the terms of this Agreement;

     (4) the ABL Secured Parties shall be entitled to vote on any plan of
reorganization and file any proof of claim in an Insolvency or Liquidation Proceeding or
otherwise and other filings and make any arguments and motions that are, in each case, in
accordance with the terms of this Agreement, with respect to the TL Priority Collateral;
and

     (5) the ABL Collateral Agent or any ABL Secured Party may exercise any of its rights
or remedies with respect to the TL Priority Collateral after the termination of the ABL
Standstill Period to the extent permitted by clause (i)(x) above.

Subject to Section 4 (Cooperation with respect to ABL Priority Collateral), in exercising rights
and remedies with respect to the TL Priority Collateral, the Term Collateral Agent and the Term
Secured Parties may enforce the provisions of the Term Documents and exercise remedies thereunder,
all in such order and in such manner as they may determine in the exercise of their sole
discretion. Such exercise and enforcement shall include the rights of an agent appointed by them
to sell or otherwise dispose of TL Priority Collateral upon foreclosure, to incur expenses in
connection with such sale or disposition, and to exercise all the rights and remedies of a secured
creditor under the UCC of any applicable jurisdiction and of a secured creditor under Bankruptcy
Laws of any applicable jurisdiction.

          (b) The ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, agrees that it
will not take or receive any TL Priority Collateral or any proceeds of TL Priority Collateral in
connection with the exercise of any right or remedy (including setoff) with respect to any TL
Priority Collateral unless and until the Discharge of Term Obligations has occurred, except as
expressly provided in the proviso in clause (ii) of Section 2.2(a) (Exercise of Remedies) or in
Section 4 (Cooperation with respect to ABL Priority Collateral). Without limiting the generality
of the foregoing, unless and until the Discharge of Term Obligations has occurred, except as
expressly provided in the proviso in clause (ii) of Section 2.2(a) (Exercise of Remedies) or in
Section 4 (Cooperation with respect to ABL Priority Collateral), the sole right of the ABL
Collateral Agent and the ABL Secured Parties with respect to the TL Priority Collateral is to hold
a Lien on the TL Priority Collateral pursuant to the ABL Documents for the period and to the
extent granted therein

 

 

Page 24

and to receive a share of the proceeds thereof, if any, after the Discharge of the Term Obligations
has occurred in accordance with the terms hereof, the Term Documents and applicable law.

          (c) Subject to the proviso in clause (ii) of Section 2.2(a) (Exercise of Remedies)
and Section 4 (Cooperation with respect to ABL Priority Collateral):

     (i) the ABL Collateral Agent, for itself and on behalf of the ABL Secured Parties,
agrees that the ABL Collateral Agent and the ABL Secured Parties will not take any action
that would hinder any exercise of remedies under the Term Documents with respect to the TL
Priority Collateral or is otherwise prohibited hereunder, including any sale, lease,
exchange, transfer or other disposition of the TL Priority Collateral, whether by
foreclosure or otherwise, and

     (ii) the ABL Collateral Agent, for itself and on behalf of the ABL Secured Parties,
hereby waives any and all rights it or the ABL Secured Parties may have as a junior lien
creditor with respect to the TL Priority Collateral or otherwise to object to the manner in
which the Term Collateral Agent or the Term Secured Parties seek to enforce or collect the
Term Obligations or the Liens granted in any of the TL Priority Collateral, regardless of
whether any action or failure to act by or on behalf of the Term Collateral Agent or Term
Secured Parties is adverse to the interest of the ABL Secured Parties.

          (d) The ABL Collateral Agent hereby acknowledges and agrees that no covenant,
agreement or restriction contained in any ABL Document (other than this Agreement) shall be
deemed to restrict in any way the rights and remedies of the Term Collateral Agent or the Term
Secured Parties with respect to the TL Priority Collateral as set forth in this Agreement and
the Term Documents.

          2.3. Payments Over.

          So long as the Discharge of Term Obligations has not occurred, any TL Priority Collateral,
cash proceeds thereof or non-cash proceeds not constituting ABL Priority Collateral received by
the ABL Collateral Agent or any ABL Secured Parties in connection with the exercise of any right
or remedy (including set off) relating to the TL Priority Collateral in contravention of this
Agreement shall be segregated and held in trust and forthwith paid over to the Term Collateral
Agent for the benefit of the Term Secured Parties in the same form as received, with any necessary
endorsements or as a court of competent jurisdiction may otherwise direct. The Term Collateral
Agent is hereby authorized to make any such endorsements as agent for the ABL Collateral Agent or
any such ABL Secured Parties. This authorization is coupled with an interest and is irrevocable
until such time as this Agreement is terminated in accordance with its terms.

          2.4. Other Agreements.

          (a) Releases.

     (i) If, in connection with:

          (1) the exercise of any Term Collateral Agent’s remedies in respect of the TL
Priority Collateral provided for in Section 2.2(a) (Exercise of Remedies), including any
sale, lease, exchange, transfer or other disposition of any such TL Priority Collateral;
or

 

 

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          (2) any sale, lease, exchange, transfer or other disposition of any TL Priority
Collateral permitted under the terms of the Term Documents and the ABL Documents
(whether or not an event of default thereunder, and as defined therein, has occurred and
is continuing),

the Term Collateral Agent, for itself or on behalf of any of the Term Secured Parties, releases any
of its Liens on any part of the TL Priority Collateral other than (A) in connection with the
Discharge of Term Obligations and (B) after the occurrence and during the continuance of any event
of default under the ABL Credit Agreement, then the Liens, if any, of the ABL Collateral Agent, for
itself or for the benefit of the ABL Secured Parties, on such TL Priority Collateral (but not the
Proceeds thereof, which shall be subject to the priorities set forth in this Agreement) shall be
automatically, unconditionally and simultaneously released and the ABL Collateral Agent, for itself
or on behalf of any such ABL Secured Parties, promptly shall execute and deliver to the Term
Collateral Agent or such Grantor such termination statements, releases and other documents as the
Term Collateral Agent or such Grantor may request to effectively confirm such release.

     (ii) Until the Discharge of Term Obligations occurs, the ABL Collateral Agent, for
itself and on behalf of the ABL Secured Parties, hereby irrevocably constitutes and
appoints the Term Collateral Agent and any officer or agent of the Term Collateral Agent,
with full power of substitution, as its true and lawful attorney in fact with full
irrevocable power and authority in the place and stead of the ABL Collateral Agent or such
holder or in the Term Collateral Agent’s own name, from time to time in the Term Collateral
Agent’s discretion, for the purpose of carrying out the terms of this Section 2.4(a) with
respect to TL Priority Collateral, to take any and all appropriate action and to execute
any and all documents and instruments which may be necessary to accomplish the purposes of
this Section 2.4(a) with respect to TL Priority Collateral, including any endorsements or
other instruments of transfer or release.

     (iii) Until the Discharge of Term Obligations occurs, to the extent that the Term
Secured Parties (a) have released any Lien on TL Priority Collateral and any such Lien is
later reinstated or (b) obtain any new First Priority Liens on assets constituting TL
Priority Collateral from Grantors, then the ABL Secured Parties shall be granted a Second
Priority Lien on any such TL Priority Collateral.

     (iv) If, prior to the Discharge of Term Obligations, a subordination of the Term
Collateral Agent’s Lien on any TL Priority Collateral is permitted (or in good faith
believed by the Term Collateral Agent to be permitted) under the Term Credit Agreement and
the ABL Credit Agreement to another Lien permitted under the Term Credit Agreement and the
ABL Credit Agreement (a “Term Collateral Priority Lien”), then the Term Collateral
Agent is authorized to execute and deliver a subordination agreement with respect thereto
in form and substance satisfactory to it, and the ABL Collateral Agent, for itself and on
behalf of the ABL Secured Parties, shall promptly execute and deliver to the Term
Collateral Agent an identical subordination agreement subordinating the Liens of the ABL
Collateral Agent for the benefit of (and behalf of) the ABL Secured Parties to such Term
Collateral Priority Lien.

          (b) Insurance. Unless and until the Discharge of Term Obligations has occurred, the
Term Collateral Agent and the Term Secured Parties shall have the sole and exclusive right,
subject to the rights of the Grantors under the Term Documents, to adjust settlement for any
insurance policy covering the TL Priority Collateral in the event of any loss thereunder and to

 

 

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approve any award granted in any condemnation or similar proceeding (or any deed in lieu of
condemnation) in respect of the TL Priority Collateral.

          (c) Amendments to ABL Security Documents.

     (i) Without the prior written consent of the Term Collateral Agent, no ABL Security
Document may be amended, supplemented or otherwise modified or entered into to the extent
such amendment, supplement or modification, or the terms of any new ABL Document, would
contravene the provisions of this Agreement. Grantors agree that each ABL Security Document
shall include the following language (with any necessary modifications to give effect to
applicable definitions) (or language to similar effect approved by the Term Collateral
Agent):

“Notwithstanding anything herein to the contrary, the liens and security interests
granted to the ABL Collateral Agent pursuant to this Agreement in any TL Priority
Collateral and the exercise of any right or remedy by the ABL Collateral Agent with
respect to any TL Priority Collateral hereunder are subject to the provisions of
the Intercreditor Agreement, dated as of April 12, 2006 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor
Agreement”), among DHM HOLDING COMPANY, INC., a Delaware corporation, DOLE
HOLDING COMPANY, LLC, a Delaware limited liability company , DOLE FOOD COMPANY,
INC., a Delaware corporation (the “Company”), the other GRANTORS from time to time
party thereto, DEUTSCHE BANK AG NEW YORK BRANCH (“DBAG”), as ABL Collateral Agent,
and DBAG, as Term Collateral Agent, and certain other persons party or that may
become party thereto from time to time. In the event of any conflict between the
terms of the Intercreditor Agreement and this Agreement, the terms of the
Intercreditor Agreement shall govern and control.”

In addition, Grantors agree that each mortgage in favor of the ABL Secured Parties covering
any TL Priority Collateral shall contain such other language as the Term Collateral Agent
may reasonably request to reflect the subordination of such mortgage to the mortgage in
favor of the Term Secured Parties covering such TL Priority Collateral.

     (ii) In the event any Term Collateral Agent or the Term Secured Parties and the
relevant Grantor enter into any amendment, waiver or consent in respect of any of the Term
Security Documents for the purpose of adding to, or deleting from, or waiving or consenting
to any departures from any provisions of, any Term Security Document or changing in any
manner the rights of the Term Collateral Agent, such Term Secured Parties, the Company or
any other Grantor thereunder, in each case with respect to or relating to the TL Priority
Collateral, then such amendment, waiver or consent shall apply automatically to any
comparable provision of the Comparable ABL Security Document without the consent of the ABL
Collateral Agent or the ABL Secured Parties and without any action by the ABL Collateral
Agent, the Company or any other Grantor, provided, that (A) no such amendment,
waiver or consent shall have the effect of (i) removing assets that constitute TL Priority
Collateral subject to the Lien of the ABL Security Documents, except to the extent that a
release of such Lien is permitted or required by Section 2.4(a) (Releases) and
provided that there is a corresponding release of such Lien securing the Term
Obligations, (ii) imposing duties on the ABL Collateral Agent without its consent or (iii)
permitting other liens on the

 

 

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TL Priority Collateral not permitted under the terms of the ABL Documents or Section 2.5
(Insolvency or Liquidation Proceedings) and (B) notice of such amendment, waiver or consent
shall have been given to the ABL Collateral Agent within ten (10) Business Days after the
effective date of such amendment, waiver or consent.

          (d) Rights As Unsecured Creditors. Except as otherwise set forth in Section 2.1
(Lien Priorities), the ABL Collateral Agent and the ABL Secured Parties may exercise rights
and
remedies as unsecured creditors against the Company or any other Grantor that has guaranteed
the
ABL Obligations in accordance with the terms of the ABL Documents and applicable law. Except
as
otherwise set forth in Section 2.1 (Lien Priorities), nothing in this Agreement shall prohibit
the
receipt by the ABL Collateral Agent or any ABL Secured Parties of the required payments of
interest, principal and other amounts in respect of the ABL Obligations so long as such
receipt is not
the direct or indirect result of the exercise by the ABL Collateral Agent or any ABL Secured
Parties
of rights or remedies as a secured creditor (including set off) in respect of the TL Priority
Collateral
in contravention of this Agreement or enforcement in contravention of this Agreement of any
Lien
held by any of them.

          (e) Bailee for Perfection.

     (i) The Term Collateral Agent agrees to hold that part of the TL Priority Collateral
that is in its possession or control (or in the possession or control of its agents or
bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon
under the UCC (such TL Priority Collateral being the “Pledged TL Priority
Collateral”) as collateral agent for the Term Secured Parties and as bailee for and,
with respect to any collateral that cannot be perfected in such manner, as agent for, the
ABL Collateral Agent (on behalf of the ABL Secured Parties) and any assignee thereof solely
for the purpose of perfecting the security interest granted under the Term Documents and the
ABL Documents, respectively, subject to the terms and conditions of this Section 2.4(e).

     (ii) Subject to the terms of this Agreement, until the Discharge of Term Obligations
has occurred, the Term Collateral Agent shall be entitled to deal with the Pledged TL
Priority Collateral in accordance with the terms of the Term Documents as if the Liens of
the ABL Collateral Agent under the ABL Security Documents did not exist. The rights of the
ABL Collateral Agent shall at all times be subject to the terms of this Agreement and to the
Term Collateral Agent’s rights under the Term Documents.

     (iii) The Term Collateral Agent shall have no obligation whatsoever to any Term
Secured Party, the ABL Collateral Agent or any ABL Secured Party to ensure that the Pledged
TL Priority Collateral is genuine or owned by any of the Grantors or to preserve rights or
benefits of any Person except as expressly set forth in this Section 2.4(e). The duties or
responsibilities of the Term Collateral Agent under this Section 2.4(e) shall be limited
solely to holding the Pledged TL Priority Collateral as bailee or agent in accordance with
this Section 2.4(e).

     (iv) The Term Collateral Agent acting pursuant to this Section 2.4(e) shall not have
by reason of the Term Security Documents, the ABL Security Documents, this Agreement or any
other document a fiduciary relationship in respect of any Term Secured Party, the ABL
Collateral Agent or any ABL Secured Party.

 

 

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     (v) Upon the Discharge of the Term Obligations under the Term Documents to which the Term
Collateral Agent is a party, the Term Collateral Agent shall deliver or cause to be delivered the
remaining Pledged TL Priority Collateral (if any) in its possession or in the possession of its
agents or bailees, together with any necessary endorsements, first, to the ABL Collateral Agent to
the extent ABL Obligations remain outstanding, and second, to the applicable Grantor to the extent
no Term Obligations or ABL Obligations remain outstanding (in each case, so as to allow such Person
to obtain control of such Pledged TL Priority Collateral) and will cooperate with the ABL
Collateral Agent in assigning (without recourse to or warranty by the Term Collateral Agent or any
Term Secured Party or agent or bailee thereof) control over any other Pledged TL Priority
Collateral under its control. The Term Collateral Agent further agrees to take all other action
reasonably requested by such Person in connection with such Person obtaining a first priority
interest in the Pledged TL Priority Collateral or as a court of competent jurisdiction may
otherwise direct.

     (vi) Notwithstanding anything to the contrary herein, if, for any reason, any ABL Obligations
remain outstanding upon the Discharge of the Term Obligations, all rights of the Term Collateral
Agent hereunder and under the Term Security Documents or the ABL Security Documents (1) with
respect to the delivery and control of any part of the TL Priority Collateral, and (2) to direct,
instruct, vote upon or otherwise influence the maintenance or disposition of such TL Priority
Collateral, shall immediately, and (to the extent permitted by law) without further action on the
part of either of the ABL Collateral Agent or the Term Collateral Agent, pass to the ABL Collateral
Agent, who shall thereafter hold such rights for the benefit of the ABL Secured Parties. Each of
the Term Collateral Agent and the Grantors agrees that it will, if any ABL Obligations remain
outstanding upon the Discharge of the Term Obligations, take any other action required by any law
or reasonably requested by the ABL Collateral Agent, in connection with the ABL Collateral Agent’s
establishment and perfection of a First Priority security interest in the TL Priority Collateral.

     (vii) Notwithstanding anything to the contrary contained herein, if for any reason, prior to
the Discharge of the ABL Obligations, the Term Collateral Agent acquires possession of any Pledged
ABL Priority Collateral, the Term Collateral Agent shall hold same bailee and/or agent to the same
extent as is provided in preceding clause (i) with respect to Pledged TL Priority Collateral,
provided that as soon as is practicable the Term Collateral Agent shall deliver or cause to
be delivered such Pledged ABL Priority Collateral to the ABL Collateral Agent in a manner otherwise
consistent with the requirements of preceding clause (v).

 

 

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          (f) When Discharge of Term Obligations Deemed to Not Have Occurred.
Notwithstanding anything to the contrary herein, if at any time after the Discharge of Term
Obligations has occurred (or concurrently therewith) the Company or any other Grantor
immediately thereafter (or concurrently therewith) enters into any Permitted Refinancing of any Term
Obligations, then such Discharge of Term Obligations shall automatically be deemed not to have occurred for
all purposes of this Agreement (other than with respect to any actions taken prior to the date of
such designation as a result of the occurrence of such first Discharge of Term Obligations), and
the
obligations under the Permitted Refinancing shall automatically be treated as Term Obligations
(together with Interest Rate Protection Agreements and Other Hedging Agreements on the basis
provided in the definition of “Term Documents” contained herein) for all purposes of this
Agreement, including for purposes of the Lien priorities and rights in respect of Collateral
set forth herein, the term “Term Credit Agreement” shall be deemed appropriately modified to refer to
such Permitted Refinancing and the Term Collateral Agent under such Term Documents shall be a Term
Collateral Agent for all purposes hereof and the new secured parties under such Term Documents
(together with Secured Hedge Counterparties as provided herein) shall automatically be treated
as Term Secured Parties for all purposes of this Agreement. Upon receipt of a notice stating
that the Company or any other Grantor has entered into a new Term Document in respect of a Permitted
Refinancing of Term Obligations (which notice shall include the identity of the new collateral
agent, such agent, the “New Term Agent”), and delivery by the New Term Agent of an Intercreditor
Agreement Joinder, the ABL Collateral Agent shall promptly (i) enter into such documents and
agreements (including amendments or supplements to this Agreement) as the Company or such New
Term Agent shall reasonably request in order to provide to the New Term Agent the rights
contemplated hereby, in each case consistent in all material respects with the terms hereof
and (ii) deliver to the New Term Agent any Pledged TL Priority Collateral held by the ABL Collateral
Agent together with any necessary endorsements (or otherwise allow the New Term Agent to obtain
control of such Pledged TL Priority Collateral). The New Term Agent shall agree to be bound by the
terms of this Agreement. If the new Term Obligations under the new Term Documents are secured by
assets of the Grantors of the type constituting TL Priority Collateral that do not also secure
the ABL Obligations, then the ABL Obligations shall be secured at such time by a Second Priority Lien
on such assets to the same extent provided in the ABL Security Documents with respect to the
other TL Priority Collateral. If the new Term Obligations under the new Term Documents are secured by
assets of the Grantors of the type constituting ABL Priority Collateral that do not also
secure the ABL Obligations, then the ABL Obligations shall be secured at such time by a First Priority
Lien on such assets to the same extent provided in the ABL Security Documents with respect to the
other ABL Priority Collateral.

          (g)
Option to Purchase Term Obligations. (i) Without prejudice to the
enforcement of remedies by the Term Collateral Agent and the Term Secured Parties, any Person
or Persons (in each case who must meet all eligibility standards contained in all relevant Term
Documents) at any time or from time to time designated by the holders of more than 50% in
aggregate outstanding principal amount of the ABL Obligations under the ABL Credit Agreement
as being entitled to exercise all default purchase options as to the Term Obligations then
outstanding (an “Eligible ABL Purchaser”) shall have the right to purchase by way of assignment (and
shall thereby
also assume all commitments and duties of the Term Secured Parties), at any time during the
exercise period described in clause (iii) below of this Section 2.4(g), all, but not less than all, of
the Term Obligations (other than the Term Obligations of a Defaulting Term Secured Party (as defined
below)), including all principal of and accrued and unpaid interest and fees on and all
prepayment or acceleration penalties and premiums in respect of all Term Obligations outstanding at the time
of purchase; provided that at the time of (and as a condition to) any purchase pursuant
to this

 

 

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Section 2.4(g), all commitments pursuant to any then outstanding Term Credit Agreement shall have
terminated and all Hedge Agreements constituting Term Documents also shall have been terminated in
accordance with their terms. Any purchase pursuant to this Section 2.4(g)(i) shall be made as
follows:

          (1) for (x) a purchase price equal to the sum of (A) (I) in the case of all loans,
advances or other similar extensions of credit that constitute Term Obligations
(including unreimbursed amounts drawn in respect of letters of credit and bank guaranties, but
excluding the undrawn amount of then outstanding letters of credit and bank
guaranties),
100% of the principal amount thereof and all accrued and unpaid interest thereon
through
the date of purchase (without regard, however, to any acceleration
prepayment penalties
or premiums other than customary breakage costs) and (II) in the case of all
credit-linked
deposits (or equivalents) related to the foregoing Obligations set forth in
preceding clause
(I) (which credit-linked deposits, for the avoidance of doubt, will continue to be
held by
the applicable deposit bank for application pursuant to the terms of the Term Credit
Agreement and it being understood and agreed that upon any drawing under any letter
of credit or any bank guaranty, such deposit bank and the Term Administrative Agent
shall apply the credit-linked deposits deposited with the deposit bank to repay the
respective
unpaid drawing or unreimbursed payment, as the case may be, in accordance with the
terms of the Term Credit Agreement), 100% of the aggregate amount of such
credit-linked
deposits and all accrued and unpaid interest thereon through the date of purchase,
(B) in
the case of any Hedge Agreement, the aggregate amount then owing to each Secured
Hedge Counterparty (which is a Term Secured Party) thereunder pursuant to the terms
of the respective Hedge Agreement, including without limitation all amounts owing to
such Secured Hedge Counterparty (which is a Term Secured Party) as a result of the
termination (or early termination) thereof (in each case, to the extent of its
interest as a
Term Secured Party) plus (C) all accrued and unpaid fees, expenses, indemnities and
other amounts through the date of purchase; and (y) an obligation on the part of the
respective Eligible ABL Purchasers (which shall be expressly provided in the
assignment
documentation described below) to reimburse each issuing lender and bank guaranty
issuer (or, in each case, Term Secured Party required to pay same) for all amounts
thereafter drawn with respect to any letters of credit and any bank guaranties
constituting
Term Obligations which remain outstanding after the date of any purchase pursuant to
this Section 2.4 (except to the extent of the credit-linked deposits actually held at
such time by
the deposit bank under the Term Credit Agreement which are required, in accordance
with the provisions of the Term Credit Agreement, to be applied to pay same);

          (2) with the purchase price described in preceding clause (i)(l)(x) payable in cash
on the date of purchase against transfer to the respective Eligible ABL Purchaser or
Eligible ABL Purchasers (without recourse and without any representation or warranty
whatsoever, whether as to the enforceability of any Term Obligation or the validity,
enforceability, perfection, priority or sufficiency of any Lien securing, or
guarantee or
other supporting obligation for, any Term Obligation or as to any other matter
whatsoever,
except the representation and warranty that the transferor owns free and clear of
all Liens
and encumbrances (other than participation interests not prohibited by the Term
Credit
Agreement, in which case the purchase price described in preceding clause (i)(l)(x)
shall
be appropriately adjusted so that the Eligible ABL Purchaser or Eligible ABL
Purchasers
do not pay amounts represented by any participation interest which remains in
effect), and
has the right to convey, whatever claims and interests it may have in respect of the
Term

 

 

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Obligations); provided that the purchase price in respect of any outstanding letter of
credit that remains undrawn on the date of purchase shall be payable in cash as and when such
letter of credit is drawn upon (i) first, from the credit-linked deposits which then
remain on deposit in accordance with the terms of the Term Credit Agreement (as described in
clause (1)(A)(II) above), until the amounts contained therein have been exhausted, and (ii)
thereafter, directly by the respective Eligible ABL Purchaser or Eligible ABL Purchasers;

          (3) with the purchase price described in preceding clause (i)(l)(x) accompanied
by a waiver by the ABL Collateral Agent (on behalf of itself and the other ABL Secured
Parties) of all claims arising out of this Agreement and the transactions contemplated
hereby as a result of exercising the purchase option contemplated by this Section 2.4(g);

          (4) with all amounts payable to the various Term Secured Parties in respect of the
assignments described above to be distributed to them by the Term Collateral Agent in
accordance with their respective holdings of the various Term Obligations; and

          (5) with such purchase to be made pursuant to assignment documentation in form
and substance reasonably satisfactory to, and prepared by counsel for, the Term Collateral
Agent (with the cost of such counsel to be paid by the Grantors or, if the Grantors do not
make such payment, by the respective Eligible ABL Purchaser or Eligible ABL
Purchasers, who shall have the right to obtain reimbursement of same from the Grantors);
it being understood and agreed that the Term Collateral Agent and each other Term
Secured Party shall retain all rights to indemnification as provided in the relevant Term
Documents for all periods prior to any assignment by them pursuant to the provisions of
this Section 2.4(g). The relevant assignment documentation shall also provide that, if for
any reason (other than the gross negligence or willful misconduct of the Term Collateral
Agent (as determined by a court of competent jurisdiction in a final and non-appealable
judgment)), the amount of credit-linked deposits held by the deposit bank under the terms
of the Term Credit Documents is at any time less than the full amounts owing with respect
to any letter of credit and/or any bank guaranty described above (including facing,
fronting, facility and similar fees) then the respective Eligible ABL Purchaser or Eligible
ABL Purchasers shall promptly reimburse the Term Collateral Agent (who shall pay the
respective issuing lender and/or bank guaranty issuer, as the case may be) the amount of
deficiency.

     (ii) The right to exercise the purchase option described in Section 2.4(g)(i) above shall be
exercisable and legally enforceable upon at least ten (10) Business Days’ prior written notice of
exercise (which notice, once given, shall be irrevocable and fully binding on the respective
Eligible ABL Purchaser or Eligible ABL Purchasers) given to the Term Collateral Agent by an
Eligible ABL Purchaser. Neither the Term Collateral Agent nor any Term Secured Party shall have
any disclosure obligation to any Eligible Term Purchaser, the ABL Collateral Agent or any ABL
Secured Party in connection with any exercise of such purchase option.

     (iii) The right to purchase the Term Obligations as described in this Section 2.4(g) may be
exercised (by giving the irrevocable written notice described in preceding clause (ii)) during the
period that (1) begins on the date occurring three Business Days after the first to occur of (x)
the date of the acceleration of the final maturity of the loans under the Term

 

 

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Credit Agreement, (y) the occurrence of the final maturity of the loans under the Term
Credit Agreement or (z) the occurrence of an Insolvency or Liquidation Proceeding with
respect to the Company or any other Grantor which constitutes an event of default under the
Term Credit Agreement (in each case, so long as the acceleration, failure to pay amounts
due at final maturity or such Insolvency or Liquidation Proceeding constituting an event of
default has not been rescinded or cured within such 10 Business Day period, and so long as
any unpaid amounts constituting Term Obligations remain owing); provided that if
there is any failure to meet the condition described in the proviso of preceding clause (i)
hereof, the aforementioned date shall be extended until the first date upon which such
condition is satisfied, and (2) ends on the 90th day after the start of the
period described in clause (1) above.

     (iv) The obligations of the Term Secured Parties to sell their respective Term
Obligations under this Section 2.4(g) are several and not joint and several. To the extent
any Term Secured Party breaches its obligation to sell its Term Obligations under this
Section 2.4(g) (a “Defaulting Term Secured Party”), nothing in this Section 2.4(g)
shall be deemed to require the Term Collateral Agent or any Term Secured Party to purchase
such Defaulting Term Secured Party’s Term Obligations for resale to the holders of ABL
Obligations and in all cases, the Term Collateral Agent and each Term Secured Party
complying with the terms of this Section 2.4(g) shall not be deemed to be in default of
this Agreement or otherwise be deemed liable for any action or inaction of any Defaulting
Term Secured Party; provided that nothing in this clause (iv) shall require any
Eligible ABL Purchaser to purchase less than all of the Term Obligations.

     (v) Each Grantor irrevocably consents to any assignment effected to one or more
Eligible ABL Purchasers pursuant to this Section 2.4(g) (so long as they meet all
eligibility standards contained in all relevant Term Documents, other than obtaining the
consent of any Grantor to an assignment to the extent required by such Term Documents) for
purposes of all Term Documents and hereby agrees that no further consent from such Grantor
shall be required.

          2.5. Insolvency or Liquidation Proceedings.

          (a) Finance and Sale Issues. Until the Discharge of Term Obligations has occurred, if
the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and
the Term Collateral Agent shall desire to permit the use of cash collateral constituting TL
Priority Collateral on which the Term Collateral Agent or any other creditor has a Lien or to
permit the Company or any other Grantor to obtain financing, whether from the Term Secured Parties
or any other entity under Section 363 or Section 364 of the Bankruptcy Code or any similar
Bankruptcy Law (each, a “DIP Financing”), then the ABL Collateral Agent, on behalf of itself and
the ABL Secured Parties, agrees that it will raise no objection to such use of cash collateral
constituting TL Priority Collateral or to the fact that such DIP Financing may be granted Liens on
the TL Priority Collateral and will not request adequate protection or any other relief in
connection therewith (except, as expressly agreed by the Term Collateral Agent or to the extent
permitted by Section 2.5(c)(Adequate Protection)) and, to the extent the Liens on the TL Priority
Collateral securing the Term Obligations are subordinated or
pari passu with the Liens on
the TL Priority Collateral securing such DIP Financing, the ABL Collateral Agent will subordinate
its Liens in the TL Priority Collateral to the Liens securing such DIP Financing (and all
obligations relating thereto). The ABL Collateral Agent, on behalf of the ABL Secured Parties,
agrees that it will not raise any

 

 

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objection or oppose a sale or other disposition of any TL Priority Collateral free and clear of
its Liens (subject to attachment of proceeds with respect to the Second Priority Lien on the TL
Priority Collateral in favor of the ABL Collateral Agent in the same order and manner as otherwise
set forth herein) or other claims under Section 363 of the Bankruptcy Code if the Term Secured
Parties have consented to such sale or disposition of such assets.

          (b) Relief from the Automatic Stay. Until the Discharge of Term Obligations has
occurred, the ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, agrees
that
none of them shall seek relief from the automatic stay or any other stay in any Insolvency or
Liquidation Proceeding in respect of the TL Priority Collateral without the prior written
consent of
the Term Collateral Agent.

          (c) Adequate Protection. The ABL Collateral Agent, on behalf of itself and the
ABL Secured Parties, agrees that none of them shall contest (or support any other person
contesting)
(i) any request by the Term Collateral Agent or the Term Secured Parties for adequate
protection
with respect to any TL Priority Collateral or (ii) any objection by the Term Collateral Agent
or the
Term Secured Parties to any motion, relief, action or proceeding based on the Term Collateral
Agent
or the Term Secured Parties claiming a lack of adequate protection with respect to the TL
Priority
Collateral. Notwithstanding the foregoing provisions in this Section 2.5(c), in any
Insolvency or
Liquidation Proceeding, (A) if the Term Secured Parties (or any subset thereof) are granted
adequate
protection in the form of additional collateral in the nature of assets constituting TL
Priority
Collateral in connection with any DIP Financing, then the ABL Collateral Agent, on behalf of
itself
or any of the ABL Secured Parties, may seek or request adequate protection in the form of a
Lien on
such additional collateral, which Lien will be subordinated to the Liens securing the Term
Obligations and such DIP Financing (and all obligations relating thereto) on the same basis as
the
other Liens on TL Priority Collateral securing the ABL Obligations are so subordinated to the
Term
Obligations under this Agreement, and (B) in the event the ABL Collateral Agent, on behalf of
itself
and the ABL Secured Parties, seeks or requests adequate protection in respect of TL Priority
Collateral securing ABL Obligations and such adequate protection is granted in the form of
additional collateral in the nature of assets constituting TL Priority Collateral, then the
ABL
Collateral Agent, on behalf of itself or any of the ABL Secured Parties, agrees that the Term
Collateral Agent shall also be granted a senior Lien on such additional collateral as security
for the
Term Obligations and for any such DIP Financing provided by the Term Secured Parties and that
any
Lien on such additional collateral securing the ABL Obligations shall be subordinated to the
Liens on
such collateral securing the Term Obligations and any such DIP Financing provided by the Term
Secured Parties (and all obligations relating thereto) and to any other Liens granted to the
Term
Secured Parties as adequate protection on the same basis as the other Liens on TL Priority
Collateral
securing the ABL Obligations are so subordinated to such Term Obligations under this
Agreement.

          (d) No Waiver. Subject to the proviso in clause (ii) of Section 2.2(a) (Exercise of
Remedies), nothing contained herein shall prohibit or in any way limit the Term Collateral
Agent or
any Term Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise
to
any action taken by the ABL Collateral Agent or any of the ABL Secured Parties in respect of
the TL
Priority Collateral, including the seeking by the ABL Collateral Agent or any ABL Secured
Parties
of adequate protection in respect thereof or the asserting by the ABL Collateral Agent or any
ABL
Secured Parties of any of its rights and remedies under the ABL Documents or otherwise in
respect
thereof.

 

 

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          (e) Reorganization Securities. If, in any Insolvency or Liquidation Proceeding,
debt obligations of the reorganized debtor secured by Liens upon any property of the
reorganized
debtor are distributed, pursuant to a plan of reorganization or similar dispositive
restructuring plan,
both on account of Term Obligations and on account of ABL Obligations, then, to the extent the
debt
obligations distributed on account of the Term Obligations and on account of the ABL
Obligations
are secured by Liens upon the same property, the provisions of this Agreement will survive the
distribution of such debt obligations pursuant to such plan and will apply with like effect to
the Liens
securing such debt obligations.

          (f) Post-Petition Interest.

     (i) Neither the ABL Collateral Agent nor any ABL Secured Party shall oppose or seek to
challenge any claim by the Term Collateral Agent or any Term Secured Party for allowance in
any Insolvency or Liquidation Proceeding of Term Obligations consisting of post-petition
interest, fees or expenses to the extent of the value of the Term Secured Party’s Lien on
the TL Priority Collateral, without regard to the existence of the Lien of the ABL
Collateral Agent on behalf of the ABL Secured Parties on the TL Priority Collateral.

     (ii) Neither the Term Collateral Agent nor any other Term Secured Party shall oppose
or seek to challenge any claim by the ABL Collateral Agent or any ABL Secured Party for
allowance in any Insolvency or Liquidation Proceeding of ABL Obligations consisting of
post-petition interest, fees or expenses to the extent of the value of the Lien of the ABL
Collateral Agent on behalf of the ABL Secured Parties on the TL Priority Collateral (after
taking into account the Lien of the Term Secured Parties on the TL Priority Collateral).

          (g) Waiver. The ABL Collateral Agent, for itself and on behalf of the ABL
Secured Parties, waives any claim it may hereafter have against any Term Secured Party arising
out
of the election of any Term Secured Party of the application of Section 111 l(b)(2) of the
Bankruptcy
Code, and/or out of any cash collateral or financing arrangement or out of any grant of a
security
interest in connection with the TL Priority Collateral in any Insolvency or Liquidation
Proceeding.

          2.6.
Reliance; Waivers; Etc.

          (a) Reliance. Other than any reliance on the terms of this Agreement, the ABL
Collateral Agent, on behalf of itself and the ABL Secured Parties, acknowledges that it and
such
ABL Secured Parties have, independently and without reliance on the Term Collateral Agent or
any
Term Secured Parties, and based on documents and information deemed by them appropriate, made
their own credit analysis and decision to enter into such ABL Documents and be bound by the
terms
of this Agreement and they will continue to make their own credit decision in taking or not
taking
any action under the ABL Credit Agreement or this Agreement.

          (b) No Warranties or Liability. The ABL Collateral Agent, on behalf of itself
and the ABL Obligations, acknowledges and agrees that the Term Collateral Agent and the Term
Secured Parties have made no express or implied representation or warranty, including with
respect
to the execution, validity, legality, completeness, collectibility or enforceability of any of
the Term
Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon.
The
Term Secured Parties will be entitled to manage and supervise their respective loans and
extensions
of credit under their respective Term Documents in accordance with law and as they may
otherwise,
in their sole discretion, deem appropriate. The Term Collateral Agent and the Term Secured
Parties

 

 

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shall have no duty to the ABL Collateral Agent or any of the ABL Secured Parties to act or refrain
from acting in a manner which allows, or results in, the occurrence or continuance of an event of
default or default under any agreements with the Company or any Guarantor (including the Term
Documents and the ABL Documents), regardless of any knowledge thereof which they may have or be
charged with.

          (c) No Waiver of Lien Priorities.

     (i) No right of the Term Secured Parties, the Term Collateral Agent or any of them to
enforce any provision of this Agreement or any Term Document shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or any other
Grantor or by any act or failure to act by any Term Secured Party or the Term Collateral
Agent, or by any noncompliance by any Person with the terms, provisions and covenants of
this Agreement, any of the Term Documents or any of the ABL Documents, regardless of any
knowledge thereof which the Term Collateral Agent or the Term Secured Parties, or any of
them, may have or be otherwise charged with.

     (ii) Without in any way limiting the generality of the foregoing paragraph (but
subject to the rights of the Company and the other Grantors under the Term Documents and
subject to the provisions of Section 2.4(c) (Amendments)), the Term Secured Parties, the
Term Collateral Agent and any of them may, at any time and from time to time in accordance
with the Term Documents and/or applicable law, without the consent of, or notice to, the
ABL Collateral Agent or any ABL Secured Party, without incurring any liabilities to the ABL
Collateral Agent or any ABL Secured Party and without impairing or releasing the Lien
priorities and other benefits provided in this Agreement (even if any right of subrogation
or other right or remedy of the ABL Collateral Agent or any ABL Secured Party is affected,
impaired or extinguished thereby) do any one or more of the following:

          (2) sell, exchange, realize upon, enforce or otherwise deal with in any manner
(subject to the terms hereof) and in any order any part of the TL Priority
Collateral or any
liability of the Company or any other Grantor to the Term Secured Parties or the
Term
Collateral Agent, or any liability incurred directly or indirectly in respect
thereof;

          (3) settle or compromise any Term Obligation or any other liability of the
Company or any other Grantor or any security therefor or any liability incurred
directly or
indirectly in respect thereof; and

          (4) exercise or delay in or refrain from exercising any right or remedy against the
Company or any security or any other Grantor or any other Person, elect any remedy
and
otherwise deal freely with the Company, any other Grantor or any TL Priority
Collateral
and any security and any guarantor or any liability of the Company or any other
Grantor
to the Term Secured Parties or any liability incurred directly or indirectly in
respect
thereof.

     (iii) The ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, also
agrees that the Term Secured Parties and the Term Collateral Agent shall have no liability
to the ABL Collateral Agent or any ABL Secured Party, and the ABL Collateral Agent, on
behalf of itself and the ABL Secured Parties, hereby waives any claim against any Term
Secured Party or the Term Collateral Agent, arising out of any and all actions which

 

 

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the Term Secured Parties or the Term Collateral Agent may take or permit or omit to take
with respect to:

          (5) the Term Documents (other than this Agreement);

          (6) the collection of the Term Obligations; or

          (7) the foreclosure upon, or sale, liquidation or other disposition of, any
TL Priority Collateral.

The ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, agrees that the
Term Secured Parties and the Term Collateral Agent have no duty to the ABL Collateral Agent
or the ABL Secured Parties in respect of the maintenance or preservation of the TL Priority
Collateral, the Term Obligations or otherwise.

     (iv) The ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, agrees
not to assert and hereby waives, to the fullest extent permitted by law, any right to
demand, request, plead or otherwise assert or otherwise claim the benefit of, any
marshalling, appraisal, valuation or other similar right that may otherwise be available
under applicable law with respect to the TL Priority Collateral or any other similar rights
a junior secured creditor may have under applicable law.

          (d) Obligations Unconditional. All rights, interests, agreements and obligations of
the Term Collateral Agent and the Term Secured Parties and the ABL Collateral Agent and the ABL
Secured Parties, respectively, hereunder shall remain in full force and effect irrespective of:

     (i) any lack of validity or enforceability of any Term Document or any ABL Document;

     (ii) except as otherwise set forth in the Agreement, any change permitted hereunder in
the time, manner or place of payment of, or in any other terms of, all or any of the Term
Obligations or ABL Obligations, or any amendment or waiver or other modification permitted
hereunder, whether by course of conduct or otherwise, of the terms of any Term Document or
any ABL Document;

     (iii) any exchange of any security interest in any TL Priority Collateral or any
amendment, waiver or other modification permitted hereunder, whether in writing or by
course of conduct or otherwise, of all or any of the Term Obligations or ABL Obligations;

     (iv) the commencement of any Insolvency or Liquidation Proceeding in respect of the
Company or any other Grantor; or

     (v) any other circumstances which otherwise might constitute a defense available to,
or a discharge of, the Company or any other Grantor in respect of the Term Obligations, or
of the ABL Collateral Agent or any ABL Secured Party in respect of this Agreement.

Section 3. ABL Priority Collateral.

          3.1. Lien Priorities.

 

 

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          (a) Relative Priorities. Notwithstanding (i) the time, manner, order or method of
grant, creation, attachment or perfection of any Liens securing the Term Obligations granted
on the
ABL Priority Collateral or of any Liens securing the ABL Obligations granted on the ABL
Priority
Collateral, (ii) the validity or enforceability of the security interests and Liens granted in
favor of any
Collateral Agent or any Secured Party on the ABL Priority Collateral, (iii) the date on which
any
ABL Obligations or Term Obligations are extended, (iv) any provision of the UCC or any other
applicable law, including any rule for determining priority thereunder or under any other law
or rule
governing the relative priorities of secured creditors, including with respect to real
property or
fixtures, (v) any provision set forth in any ABL Document or any Term Document (other than
this
Agreement), (vi) or the possession or control by any Collateral Agent or any Secured Party or
any
bailee of all or any part of any ABL Priority Collateral as of the date hereof or otherwise,
or (vii) any
other circumstance whatsoever, the Term Collateral Agent, on behalf of itself and the Term
Secured
Parties, hereby agrees that:

     (i) any Lien on the ABL Priority Collateral securing any ABL Obligations now or
hereafter held by or on behalf of the ABL Collateral Agent or any ABL Secured Parties or
any agent or trustee therefor, regardless of how acquired, whether by grant, possession,
statute, operation of law, subrogation or otherwise, shall be senior in all respects and
prior to any Lien on the ABL Priority Collateral securing any of the Term Obligations; and

     (ii) any Lien on the ABL Priority Collateral now or hereafter held by or on behalf of
the Term Collateral Agent or any Term Secured Parties or any agent or trustee therefor
regardless of how acquired, whether by grant, possession, statute, operation of law,
subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on
the ABL Priority Collateral securing any ABL Obligations.

All Liens on the ABL Priority Collateral securing any ABL Obligations shall be and remain senior
in all respects and prior to all Liens on the ABL Priority Collateral securing any Term
Obligations for all purposes, whether or not such Liens securing any ABL Obligations are
subordinated to any Lien securing any other obligation of the Company, any other Grantor or any
other Person.

          (b) Prohibition on Contesting Liens. Each of the Term Collateral Agent, for
itself and on behalf of each Term Secured Party, and the ABL Collateral Agent, for itself and
on
behalf of each ABL Secured Party, agrees that it shall not (and hereby waives any right to)
contest or
support any other Person in contesting, in any proceeding (including any Insolvency or
Liquidation
Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of
any of the
ABL Secured Parties in the ABL Priority Collateral or by or on behalf of any of the Term
Secured
Parties in the Collateral, as the case may be or (ii) the validity or enforceability of any
Term Security
Document (or any Term Obligations thereunder) or any ABL Security Document (or any ABL
Obligations thereunder); provided that nothing in this Agreement shall be construed to
prevent or
impair the rights of either of the Collateral Agents or any Secured Party to enforce this
Agreement,
including the priority of the Liens on the ABL Priority Collateral securing the ABL
Obligations and
the Term Obligations as provided in Sections 3.1 (a) (Relative Priorities) and 3.2 (Exercise
of Remedies).

          (c) No New Liens. So long as the Discharge of ABL Obligations has not
occurred, the parties hereto agree that the Company or any other Grantor shall not grant or
permit
any additional Liens on any asset or property of any Grantor to secure any Term Obligation
unless it
has granted or contemporaneously grants (i) a First Priority Lien on such asset or property to
secure

 

 

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the ABL Obligations if such asset or property constitutes ABL Priority Collateral or (ii) a Second
Priority Lien on such asset or property to secure the ABL Obligations if such asset or property
constitutes TL Priority Collateral, To the extent that the provisions of clause (i) in the
immediately preceding sentence are not complied with for any reason, without limiting any other
rights and remedies available to the ABL Collateral Agent and/or the ABL Secured Parties, the Term
Collateral Agent, on behalf of Term Secured Parties, agrees that any amounts received by or
distributed to any of them pursuant to or as a result of Liens on the ABL Priority Collateral
granted in contravention of such clause (i) of this Section 3.1(c) shall be subject to Section 3.3
(Payments Over).

          (d) Effectiveness of Lien Priorities. Each of the parties hereto acknowledges that
the Lien priorities provided for in this Agreement shall not be affected or impaired in any manner
whatsoever, including, without limitation, on account of: (i) the invalidity, irregularity or
unenforceability of all or any part of the ABL Documents or the Term Documents; (ii) any
amendment, change or modification of any ABL Documents or Term Documents; or (iii) any impairment,
modification, change, exchange, release or subordination of or limitation on, any liability of, or
stay of actions or lien enforcement proceedings against, Holdings or any of its Subsidiaries party
to any of the ABL Documents or Term Documents, its property, or its estate in bankruptcy resulting
from any bankruptcy, arrangement, readjustment, composition, liquidation, rehabilitation, similar
proceeding or otherwise involving or affecting any Secured Party.

          3.2. Exercise of Remedies.

          (a) So long as the Discharge of ABL Obligations has not occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against Holdings, the Company or any
other Grantor:

     (i) neither the Term Collateral Agent nor any of the Term Secured Parties (x) will
exercise or seek to exercise any rights or remedies (including, without limitation, set-off)
with respect to any ABL Priority Collateral (including, without limitation, the exercise of
any right under any lockbox agreement, account control agreement, landlord waiver or
bailee’s letter or similar agreement or arrangement in respect of ABL Priority Collateral to
which the Term Collateral Agent or any Term Secured Party is a party) or institute or
commence or join with any Person (other than the ABL Collateral Agent and the ABL Secured
Parties) in commencing any action or proceeding with respect to such rights or remedies
(including any action of foreclosure, enforcement, collection or execution); provided,
however, that the Term Collateral Agent may exercise any or all such rights after the
passage of a period of 180 days from the date of delivery of a notice in writing to the ABL
Collateral Agent of the Term Collateral Agent’s intention to exercise its right to take such
actions (the “Term Standstill Period”); provided, further, however, notwithstanding
anything herein to the contrary, neither the Term Collateral Agent nor any Term Secured
Party will exercise any rights or remedies with respect to any ABL Priority Collateral if,
notwithstanding the expiration of the Term Standstill Period, the ABL Collateral Agent or
ABL Secured Parties shall have commenced the exercise of any of their rights or remedies
with respect to all or any portion of the ABL Priority Collateral (prompt notice of such
exercise to be given to the Term Collateral Agent) and are pursuing the exercise thereof,
(y) will contest, protest or object to any foreclosure proceeding or action brought by the
ABL Collateral Agent or any ABL Secured Party with respect to, or any other exercise by the
ABL Collateral Agent or any ABL Secured Party of any rights and remedies relating to, the
ABL Priority Collateral under the ABL Documents or otherwise, and (z) subject to its rights
under

 

 

Page 39

clause (i)(x) above, will object to the forbearance by the ABL Collateral Agent or the ABL
Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other
exercise of any rights or remedies relating to the ABL Priority Collateral, in each case so
long as the respective interests of the Term Secured Parties attach to the proceeds thereof
subject to the relative priorities described in Section 3.1 (Lien Priorities); provided,
however, that nothing in this Section 3.2(a) shall be construed to authorize the Term
Collateral Agent or any Term Secured Party to sell any ABL Priority Collateral free of the
Lien of the ABL Collateral Agent or any ABL Secured Party; and

     (ii) the ABL Collateral Agent and the ABL Secured Parties shall have the exclusive
right to enforce rights, exercise remedies (including set off and the right to credit bid
their debt) and make determinations regarding the disposition of, or restrictions with
respect to, the ABL Priority Collateral without any consultation with or the consent of the
Term Collateral Agent or any Term Secured Party; provided, that:

     (1) the Term Collateral Agent may take any action (not adverse to the prior Liens on
the ABL Priority Collateral securing the ABL Obligations, or the rights of any ABL
Collateral Agent or the ABL Secured Parties to exercise remedies in respect thereof) in
order to preserve or protect its Lien on the ABL Priority Collateral;

     (2) the Term Secured Parties shall be entitled to file any necessary responsive or
defensive pleadings in opposition to any motion, claim, adversary proceeding or other
pleading made by any person objecting to or otherwise seeking the disallowance of the
claims of the Term Secured Parties, including without limitation any claims secured by
the ABL Priority Collateral, if any, in each case in accordance with the terms of this
Agreement;

     (3) the Term Secured Parties shall be entitled to file any pleadings, objections,
motions or agreements which assert rights or interests available to unsecured creditors
of the Grantors arising under either the Bankruptcy Law or applicable non-bankruptcy law,
in each case in accordance with the terms of this Agreement;

     (4) the Term Secured Parties shall be entitled to vote on any plan
of reorganization and file any proof of claim in an Insolvency or Liquidation Proceeding
or otherwise and other filings and make any arguments and motions that are, in each case,
in accordance with the terms of this Agreement, with respect to the ABL Priority
Collateral; and

     (5) the Term Collateral Agent or any Term Secured Party may exercise any of its
rights or remedies with respect to the ABL Priority Collateral after the termination of
the Term Standstill Period to the extent permitted by clause (i)(x) above.

          In exercising rights and remedies with respect to the ABL Priority Collateral, the ABL
Collateral Agent and the ABL Secured Parties may enforce the provisions of the ABL Documents and
exercise remedies thereunder, all in such order and in such manner as they may determine in the
exercise of their sole discretion. Such exercise and enforcement shall include the rights of an
agent appointed by them to sell or otherwise dispose of ABL Priority Collateral upon foreclosure,
to incur expenses in connection with such sale or disposition, and to exercise all the

 

 

Page 40

rights and remedies of a secured creditor under the UCC of any applicable jurisdiction and of a
secured creditor under Bankruptcy Laws of any applicable jurisdiction.

          (b) The Term Collateral Agent, on behalf of itself and the Term Secured Parties, agrees that
it will not take or receive any ABL Priority Collateral or any proceeds of ABL Priority Collateral
in connection with the exercise of any right or remedy (including set-off) with respect to any ABL
Priority Collateral unless and until the Discharge of ABL Obligations has occurred, except as
expressly provided in the proviso in clause (ii) of Section 3.2(a) (Exercise of Remedies). Without
limiting the generality of the foregoing, unless and until the Discharge of ABL Obligations has
occurred, except as expressly provided in the proviso in clause (ii) of Section 3.2(a) (Exercise of
Remedies), the sole right of the Term Collateral Agent and the Term Secured Parties with respect to
the ABL Priority Collateral is to hold a Lien on the ABL Priority Collateral pursuant to the Term
Documents for the period and to the extent granted therein and to receive a share of the proceeds
thereof, if any, after the Discharge of the ABL Obligations has occurred in accordance with the
terms hereof, the Term Documents and applicable law.

          (c) Subject to the proviso in clause (ii) of Section 3.2(a) (Exercise of Remedies):

     (i) the Term Collateral Agent, for itself and on behalf of the Term Secured Parties,
agrees that the Term Collateral Agent and the Term Secured Parties will not take any action
that would hinder any exercise of remedies under the ABL Documents with respect to the ABL
Priority Collateral or is otherwise prohibited hereunder, including any sale, lease,
exchange, transfer or other disposition of the ABL Priority Collateral, whether by
foreclosure or otherwise, and

     (ii) the Term Collateral Agent, for itself and on behalf of the Term Secured Parties,
hereby waives any and all rights it or the Term Secured Parties may have as a junior lien
creditor with respect to the ABL Priority Collateral or otherwise to object to the manner in
which the ABL Collateral Agent or the ABL Secured Parties seek to enforce or collect the ABL
Obligations or the Liens granted in any of the ABL Priority Collateral, regardless of
whether any action or failure to act by or on behalf of the ABL Collateral Agent or ABL
Secured Parties is adverse to the interest of the Term Secured Parties.

          (d) The Term Collateral Agent hereby acknowledges and agrees that no covenant, agreement
or restriction contained in any Term Document (other than this Agreement) shall be deemed to
restrict in any way the rights and remedies of the ABL Collateral Agent or the ABL Secured Parties
with respect to the ABL Priority Collateral as set forth in this Agreement and the ABL Documents.

          3.3. Payments Over.

          So long as the Discharge of ABL Obligations has not occurred, any ABL Priority Collateral,
cash proceeds thereof or non-cash proceeds not constituting TL Priority Collateral received by the
Term Collateral Agent or any Term Secured Parties in connection with the exercise of any right or
remedy (including set off) relating to the ABL Priority Collateral in contravention of this
Agreement shall be segregated and held in trust and forthwith paid over to the ABL Collateral
Agent for the benefit of the ABL Secured Parties in the same form as received, with any necessary
endorsements or as a court of competent jurisdiction may otherwise direct. The ABL Collateral
Agent is hereby authorized to make any such endorsements as agent for the Term Collateral Agent or

 

 

Page 41

any such Term Secured Parties. This authorization is coupled with an interest and is irrevocable
until such time as this Agreement is terminated in accordance with its terms.

          3.4.
Other Agreements.

          (a)
Releases.

          (i) If, in connection with:

     (1) the exercise of any ABL Collateral Agent’s remedies in respect of the ABL
Priority Collateral provided for in Section 3.2(a) (Exercise of Remedies), including any
sale, lease, exchange, transfer or other disposition of any such ABL Priority Collateral;
or

     (2) any sale, lease, exchange, transfer or other disposition of any ABL Priority
Collateral permitted under the terms of the ABL Documents and the Term Documents (whether
or not an event of default thereunder, and as defined therein, has occurred and is
continuing),

the ABL Collateral Agent, for itself or on behalf of any of the ABL Secured Parties, releases any
of its Liens on any part of the ABL Priority Collateral other than (A) in connection with the
Discharge of ABL Obligations and (B) after the occurrence and during the continuance of any event
of default under the Term Credit Agreement, then the Liens, if any, of the Term Collateral Agent,
for itself or for the benefit of the Term Secured Parties, on such ABL Priority Collateral (but not
the Proceeds thereof, which shall be subject to the priorities set forth in this Agreement) shall
be automatically, unconditionally and simultaneously released and the Term Collateral Agent, for
itself or on behalf of any such Term Secured Parties, promptly shall execute and deliver to the ABL
Collateral Agent or such Grantor such termination statements, releases and other documents as the
ABL Collateral Agent or such Grantor may request to effectively confirm such release.

     (ii) Until the Discharge of ABL Obligations occurs, the Term Collateral Agent, for
itself and on behalf of the Term Secured Parties, hereby irrevocably constitutes and
appoints the ABL Collateral Agent and any officer or agent of the ABL Collateral Agent,
with full power of substitution, as its true and lawful attorney in fact with full
irrevocable power and authority in the place and stead of the Term Collateral Agent or such
holder or in the ABL Collateral Agent’s own name, from time to time in the ABL Collateral
Agent’s discretion, for the purpose of carrying out the terms of this Section 3.4(a) with
respect to ABL Priority Collateral, to take any and all appropriate action and to execute
any and all documents and instruments which may be necessary to accomplish the purposes of
this Section 3.4(a) with respect to ABL Priority Collateral, including any endorsements or
other instruments of transfer or release.

     (iii) Until the Discharge of ABL Obligations occurs, to the extent that the ABL
Secured Parties (a) have released any Lien on ABL Priority Collateral and any such Lien is
later reinstated or (b) obtain any new First Priority Liens on assets constituting ABL
Priority Collateral from Grantors, then the Term Secured Parties shall be granted a Second
Priority Lien on any such ABL Priority Collateral.

     (iv) If, prior to the Discharge of ABL Obligations, a subordination of the ABL
Collateral Agent’s Lien on any ABL Priority Collateral is permitted (or in good faith
believed

 

 

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by the ABL Collateral Agent to be permitted) under the ABL Credit Agreement and the Term
Credit Agreement to another Lien permitted under the ABL Credit Agreement and the Term
Credit Agreement (an “ABL Collateral Priority Lien”), then the ABL Collateral Agent
is authorized to execute and deliver a subordination agreement with respect thereto in form
and substance satisfactory to it, and the Term Collateral Agent, for itself and on behalf of
the Term Secured Parties, shall promptly execute and deliver to the ABL Collateral Agent an
identical subordination agreement subordinating the Liens of the Term Collateral Agent for
the benefit of (and behalf of) the Term Secured Parties to such ABL Collateral Priority
Lien.

          (b)
Insurance. Unless and until the Discharge of ABL Obligations has occurred, the ABL
Collateral Agent and the ABL Secured Parties shall have the sole and exclusive right, subject to
the rights of the Grantors under the ABL Documents, to adjust settlement for any insurance policy
covering the ABL Priority Collateral in the event of any loss thereunder and to approve any award
granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) in
respect of the ABL Priority Collateral.

          (c) Amendments to Term Security Documents.

     (i) Without the prior written consent of the ABL Collateral Agent, no Term Security
Document may be amended, supplemented or otherwise modified or entered into to the extent
such amendment, supplement or modification, or the terms of any new Term Document, would
contravene the provisions of this Agreement. Grantors agree that each Term Security
Document (other than (x) any mortgage, deed of trust or similar security document relating
to real property and fixtures thereon and (y) any Term Security Document where the party or
parties granting security interests thereunder are not parties hereto, as contemplated by
Section 6.19) shall include the following language (with any necessary modifications to
give effect to applicable definitions) (or language to similar effect approved by the ABL
Collateral Agent):

“Notwithstanding anything herein to the contrary, the liens and security interests
granted to the Term Collateral Agent pursuant to this Agreement in any ABL Priority
Collateral and the exercise of any right or remedy by the Term Collateral Agent
with respect to any ABL Priority Collateral hereunder are subject to the provisions
of the Intercreditor Agreement, dated as of April 12, 2006 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor
Agreement”), among DHM HOLDING COMPANY, INC., a Delaware corporation, DOLE
HOLDING COMPANY, LLC, a Delaware limited liability company , DOLE FOOD COMPANY,
INC., a Delaware corporation (the “Company”), the other GRANTORS from time to time
party thereto, DEUTSCHE BANK AG NEW YORK BRANCH (“DBAG”), as ABL Collateral Agent,
and DBAG, as Term Collateral Agent, and certain other persons party or that may
become party thereto from time to time. In the event of any conflict between the
terms of the Intercreditor Agreement and this Agreement, the terms of the
Intercreditor Agreement shall govern and control.”

     (ii) In the event any ABL Collateral Agent or the ABL Secured Parties and the relevant
Grantor enter into any amendment, waiver or consent in respect of any of the ABL Security
Documents for the purpose of adding to, or deleting from, or waiving or consenting to any
departures from any provisions of, any ABL Security Document or changing in any

 

 

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manner the rights of the ABL Collateral Agent, such ABL Secured Parties, the Company or any
other Grantor thereunder, in each case with respect to or relating to the ABL Priority
Collateral, then such amendment, waiver or consent shall apply automatically to any
comparable provision of the Comparable Term Security Document without the consent of the
Term Collateral Agent or the Term Secured Parties and without any action by the Term
Collateral Agent, the Company or any other Grantor, provided, that (A) no such
amendment, waiver or consent shall have the effect of (i) removing assets that constitute
ABL Priority Collateral subject to the Lien of the Term Security Documents, except to the
extent that a release of such Lien is permitted or required by Section 3.4(a)(Releases) and
provided that there is a corresponding release of such Lien securing the ABL
Obligations, (ii) imposing duties on the Term Collateral Agent without its consent or (iii)
permitting other liens on the ABL Priority Collateral not permitted under the terms of the
Term Documents or Section 3.5 (Insolvency or Liquidation Proceedings) and (B) notice of
such amendment, waiver or consent shall have been given to the Term Collateral Agent within
ten (10) Business Days after the effective date of such amendment, waiver or consent.

          (d)
Rights As Unsecured Creditors. Except as otherwise set forth in Section 3.1 (Lien
Priorities), the Term Collateral Agent and the Term Secured Parties may exercise rights and
remedies as unsecured creditors against the Company or any other Grantor that has guaranteed the
Term Obligations in accordance with the terms of the Term Documents and applicable law. Except as
otherwise set forth in Section 3.1 (Lien Priorities), nothing in this Agreement shall prohibit the
receipt by the Term Collateral Agent or any Term Secured Parties of the required payments of
interest, principal and other amounts in respect of the Term Obligations so long as such receipt is
not the direct or indirect result of the exercise by the Term Collateral Agent or any Term Secured
Parties of rights or remedies as a secured creditor (including set off) in respect of the ABL
Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of
them.

          (e)
Bailee for Perfection.

     (i) The ABL Collateral Agent agrees to hold that part of the ABL Priority Collateral
that is in its possession or control (or in the possession or control of its agents or
bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon
under the UCC (such ABL Priority Collateral being the
“Pledged ABL Priority Collateral”) as collateral agent for the ABL Secured Parties and as bailee for and, with respect to
any collateral that cannot be perfected in such manner, as agent for, the Term Collateral
Agent (on behalf of the Term Secured Parties) and any assignee thereof solely for the
purpose of perfecting the security interest granted under the ABL Credit Documents and the
Term Documents, respectively, subject to the terms and conditions of this Section 3.4(e).

     (ii) Subject to the terms of this Agreement, until the Discharge of ABL Obligations
has occurred, the ABL Collateral Agent shall be entitled to deal with the Pledged ABL
Priority Collateral in accordance with the terms of the ABL Documents as if the Liens of
the Term Collateral Agent under the Term Security Documents did not exist. The rights of
the Term Collateral Agent shall at all times be subject to the terms of this Agreement and
to the ABL Collateral Agent’s rights under the ABL Documents.

     (iii) The ABL Collateral Agent shall have no obligation whatsoever to any ABL Secured
Party, the Term Collateral Agent or any Term Secured Party to ensure that the Pledged ABL
Priority Collateral is genuine or owned by any of the Grantors or to preserve

 

 

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rights or benefits of any Person except as expressly set forth in this Section 3.4(e). The duties
or responsibilities of the ABL Collateral Agent under this Section 3.4(e) shall be limited solely
to holding the Pledged ABL Priority Collateral as bailee or agent in accordance with this Section
3.4(e).

     (iv) The ABL Collateral Agent acting pursuant to this Section 3.4(e) shall not have by reason
of the ABL Security Documents, the Term Security Documents, this Agreement or any other document a
fiduciary relationship in respect of any ABL Secured Party, the Term Collateral Agent or any Term
Secured Party.

     (v) Upon the Discharge of the ABL Obligations under the ABL Documents to which the ABL
Collateral Agent is a party, the ABL Collateral Agent shall deliver or cause to be delivered the
remaining Pledged ABL Priority Collateral (if any) in its possession or in possession of its
agents or bailees, together with any necessary endorsements, first, to the Term Collateral Agent
to the extent Term Obligations remain outstanding, and second, to the applicable Grantor to the
extent no ABL Obligations or Term Obligations remain outstanding (in each case, so as to allow
such Person to obtain control of such Pledged ABL Priority Collateral) and will cooperate with the
Term Collateral Agent in assigning (without recourse to or warranty by the ABL Collateral Agent or
any ABL Secured Party or agent or bailee thereof) control over any other Pledged ABL Priority
Collateral under its control. The ABL Collateral Agent further agrees to take all other action
reasonably requested by such Person in connection with such Person obtaining a first priority
interest in the Pledged ABL Priority Collateral or as a court of competent jurisdiction may
otherwise direct.

     (vi) Notwithstanding anything to the contrary herein, if, for any reason, any Term
Obligations remain outstanding upon the Discharge of the ABL Obligations, all rights of the ABL
Collateral Agent hereunder and under the Term Security Documents or the ABL Security Documents (1)
with respect to the delivery and control of any part of the ABL Priority Collateral, and (2) to
direct, instruct, vote upon or otherwise influence the maintenance or disposition of such ABL
Priority Collateral, shall immediately, and (to the extent permitted by law) without further
action on the part of either of the Term Collateral Agent or the ABL Collateral Agent, pass to the
Term Collateral Agent, who shall thereafter hold such rights for the benefit of the Term Secured
Parties. Each of the ABL Collateral Agent and the Grantors agrees that it will, if any Term
Obligations remain outstanding upon the Discharge of the ABL Obligations, take any other action
required by any law or reasonably requested by the Term Collateral Agent, in connection with the
Term Collateral Agent’s establishment and perfection of a First Priority security interest in the
ABL Priority Collateral.

     (vii) Notwithstanding anything to the contrary contained herein, if for any reason, prior to
the Discharge of the Term Obligations, the ABL Collateral Agent acquires possession of any Pledged
Term Priority Collateral, the ABL Collateral Agent shall hold same bailee and/or agent to the same
extent as is provided in preceding clause (i) with respect to Pledged ABL Priority Collateral,
provided that as soon as is practicable the ABL Collateral Agent shall deliver or cause to
be delivered such Pledged Term Priority Collateral to the Term Collateral Agent in a manner
otherwise consistent with the requirements of preceding clause (v).

 

 

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          (f)
When Discharge of ABL Obligations Deemed to Not Have Occurred. Notwithstanding
anything to the contrary herein, if at any time after the Discharge of ABL Obligations has occurred
(or concurrently therewith) the Company and/or any Grantor immediately thereafter (or concurrently
therewith) enters into any Permitted Refinancing of any ABL Obligations, then such Discharge of ABL
Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement
(other than with respect to any actions taken prior to the date of such designation as a result of
the occurrence of such first Discharge of ABL Obligations), and the obligations under the Permitted
Refinancing shall automatically be treated as ABL Obligations for all purposes of this Agreement,
including for purposes of the Lien priorities and rights in respect of Collateral set forth herein,
the term “ABL Credit Agreement” shall be deemed appropriately modified to refer to such Permitted
Refinancing and the ABL Collateral Agent under such ABL Documents shall be a ABL Collateral Agent
for all purposes hereof and the new secured parties under such ABL Documents shall automatically be
treated as ABL Secured Parties for all purposes of this Agreement. Upon receipt of a notice stating
that the Company and/or any Grantor has entered into a new ABL Document in respect of a Permitted
Refinancing of ABL Obligations (which notice shall include the identity of the new collateral
agent, such agent, the “New ABL Agent”), and delivery by the New ABL Agent of an Intercreditor
Agreement Joinder, the Term Collateral Agent shall promptly (i) enter into such documents and
agreements (including amendments or supplements to this Agreement) as the Company and/or any
Grantor or such New ABL Agent shall reasonably request in order to provide to the New ABL Agent the
rights contemplated hereby, in each case consistent in all material respects with the terms of this
Agreement and (ii) deliver to the New ABL Agent any Pledged ABL Priority Collateral held by the
Term Collateral Agent together with any necessary endorsements (or otherwise allow the New ABL
Agent to obtain control of such Pledged ABL Priority Collateral). The New ABL Agent shall agree to
be bound by the terms of this Agreement. If the new ABL Obligations under the new ABL Documents are
secured by assets of the Grantors of the type constituting ABL Priority Collateral that do not also
secure the Term Obligations, then the Term Obligations shall be secured at such time by a Second
Priority Lien on such assets to the same extent provided in the Term Security Documents with
respect to the other ABL Priority Collateral. If the new ABL Obligations under the new ABL
Documents are secured by assets of the Grantors of the type constituting TL Priority Collateral
that do not also secure the Term Obligations, then the Term Obligations shall be secured at such
time by a First Priority Lien on such assets to the same extent provided in the Term Security
Documents with respect to the other TL Priority Collateral.

          (g)
Option to Purchase ABL Obligations.

     (i) Without prejudice to the enforcement of remedies by the ABL Collateral Agent and
the ABL Secured Parties, any Person or Persons (in each case who must meet all eligibility
standards contained in all relevant ABL Documents) at any time or from time to time
designated by the holders of more than 50% in aggregate outstanding principal amount of the
Term Obligations under the Term Credit Agreement as being entitled to exercise all default
purchase options as to the Term Obligations then outstanding (an “Eligible Term
Purchaser”) shall have the right to purchase by way of assignment (and shall thereby
also assume all commitments and duties of the Term Secured Parties), at any time during the
exercise period described in clause (iii) below of this Section 3.4(g), all, but not less
than all, of the ABL Obligations (other than the ABL Obligations of a Defaulting ABL
Secured Party (as defined below)), including all principal of and accrued and unpaid
interest and fees on and all prepayment or acceleration penalties and premiums in respect
of all ABL Obligations outstanding at the time of purchase; provided that at the
time of (and as a condition to) any

 

 

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purchase pursuant to this Section 3.4(g), all commitments pursuant to any then outstanding ABL
Credit Agreement shall have terminated in accordance with their terms. Any purchase pursuant to
this Section 3.4(g)(i) shall be made as follows:

     (1) for (x) a purchase price equal to the sum of (A) in the case of all loans, advances or
other similar extensions of credit that constitute ABL Obligations (including unreimbursed amounts
drawn in respect of letters of credit, but excluding the undrawn amount of then outstanding letters
of credit), 100% of the principal amount thereof and all accrued and unpaid interest thereon
through the date of purchase (without regard, however, to any acceleration or other
prepayment penalties or premiums other than customary breakage costs), plus (B) all accrued and
unpaid fees, expenses, indemnities and other amounts through the date of purchase; and (y) an
obligation on the part of the respective Eligible Term Purchasers (which shall be expressly
provided in the assignment documentation described below) to reimburse each issuing lender and bank
guaranty issuer (or any ABL Secured Party required to pay same) for all amounts thereafter drawn
with respect to any letters of credit and any bank guaranties constituting ABL Obligations which
remain outstanding after the date of any purchase pursuant to this Section 3.4, together with all
facing fees and other amounts which may at any future time be owing to the respective issuing
lender or bank guaranty issues with respect to such letters of credit and bank guaranties;

     (2) with the purchase price described in preceding clause (i)(l)(x) payable in cash on the
date of purchase against transfer to the respective Eligible Term Purchaser or Eligible Term
Purchasers (without recourse and without any representation or warranty whatsoever, whether as to
the enforceability of any ABL Obligation or the validity, enforceability, perfection, priority or
sufficiency of any Lien securing, or guarantee or other supporting obligation for, any ABL
Obligation or as to any other matter whatsoever, except the representation and warranty that the
transferor owns free and clear of all Liens and encumbrances (other than participation
interests not prohibited by the ABL Credit Agreement, in which case the purchase price
described in preceding clause (i)(l)(x) shall be appropriately adjusted so that the Eligible Term
Purchaser or Eligible Term Purchasers do not pay amounts represented by any participation interest
which remains in effect), and has the right to convey, whatever claims and interests it may have in
respect of the ABL Obligations); provided that the purchase price in respect of any
outstanding letter of credit that remains undrawn on the date of purchase shall be payable in cash
as and when such letter of credit is drawn upon (i) first, from the cash collateral account
described in clause (a)(3) below, until the amounts contained therein have been exhausted, and (ii)
thereafter, directly by the respective Eligible Term Purchaser or Eligible Term Purchasers;

     (3) with such purchase accompanied by a deposit of cash collateral under the sole dominion and
control of the ABL Collateral Agent or its designee in an amount equal to 110% of the sum of the
aggregate undrawn amount of all then outstanding letters of credit and bank guaranties pursuant to
the ABL Documents and the aggregate facing and similar fees which will accrue thereon through the
stated maturity of the letters of credit and bank guaranties (assuming no drawings thereon before
stated maturity), as security for the respective Eligible Term Purchaser’s or Eligible Term
Purchasers’ obligation to pay amounts as provided in preceding clause (i)(l)(y), it being
understood and agreed that (x) at the time any facing or similar fees are owing to an issuer with
respect to any letter of credit, the ABL Collateral Agent may apply amounts deposited with it as
described above to pay same and (y) upon any drawing under any letter of credit, the ABL Collateral
Agent shall apply

 

 

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amounts deposited with it as described above to repay the respective unpaid drawing. After giving
effect to any payment made as described above in this clause (3), those amounts (if any) then on
deposit with the ABL Collateral Agent as described in this clause (3) which exceed 110% of the sum
of the aggregate undrawn amount of all then outstanding letters of credit and bank guaranties and
the aggregate facing and similar fees (to the respective issuers) which will accrue thereon through
the stated maturity of the then outstanding letters of credit and bank guaranties (assuming no
drawings thereon before stated maturity), shall be returned to the respective Eligible Term
Purchaser or Eligible Term Purchasers (as their interests appear). Furthermore, at such time as all
letters of credit and bank guaranties have been cancelled, expired or been fully drawn, as the case
may be, and after all applications described above have been made, any excess cash collateral
deposited as described above in this clause (3) (and not previously applied or released as provided
above) shall be returned to the respective Eligible Term Purchaser or Eligible Term Purchasers, as
their interests appear;

     (4) with the purchase price described in preceding clause (i)(l)(x) accompanied by a waiver by
the Term Collateral Agent (on behalf of itself and the other Term Secured Parties) of all claims
arising out of this Agreement and the transactions contemplated hereby as a result of exercising
the purchase option contemplated by this Section 3.4(g);

     (5) with all amounts payable to the various ABL Secured Parties in respect of the assignments
described above to be distributed to them by the ABL Collateral Agent in accordance with their
respective holdings of the various ABL Obligations; and

     (6) with such purchase to be made pursuant to assignment documentation in form and substance
reasonably satisfactory to, and prepared by counsel for, the ABL Collateral Agent (with the cost of
such counsel to be paid by the Grantors or, if the Grantors do not make such payment, by the
respective Eligible Term Purchaser or Eligible Term Purchasers, who shall have the right to obtain
reimbursement of same from the Grantors); it being understood and agreed that the ABL Collateral
Agent and each other ABL Secured Party shall retain all rights to indemnification as provided in
the relevant ABL Documents for all periods prior to any assignment by them pursuant to the
provisions of this Section 3.4(g). The relevant assignment documentation shall also provide that,
if for any reason (other than the gross negligence or willful misconduct of the ABL Collateral
Agent (as determined by a court of competent jurisdiction in a final and non-appealable judgment)),
the amount of cash collateral held by the ABL Collateral Agent or its designee pursuant to
preceding clause (a)(3) is at any time less than the full amounts owing with respect to any letter
of credit described above (including facing and similar fees) then the respective Eligible Term
Purchaser or Eligible Term Purchasers shall promptly reimburse the ABL Collateral Agent (who shall
pay the respective issuing bank) the amount of deficiency.

     (ii) The right to exercise the purchase option described in Section 3.4(g)(i) above shall be
exercisable and legally enforceable upon at least ten (10) Business Days’ prior written notice of
exercise (which notice, once given, shall be irrevocable and fully binding on the respective
Eligible Term Purchaser or Eligible Term Purchasers) given to the ABL Collateral Agent by an
Eligible Term Purchaser. Neither the ABL Collateral Agent nor any ABL Secured Party shall have any
disclosure obligation to any Eligible Term Purchaser, the Term Collateral Agent or any Term
Secured Party in connection with any exercise of such purchase option.

 

 

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     (iii) The right to purchase the ABL Obligations as described in this Section 3.4(g)
may be exercised (by giving the irrevocable written notice described in preceding clause
(ii)) during the period that (1) begins on the date occurring three Business Days after the
first to occur of (x) the date of the acceleration of the final maturity of the loans under
the ABL Credit Agreement, (y) the occurrence of the final maturity of the loans under the
ABL Credit Agreement or (z) the occurrence of an Insolvency or Liquidation Proceeding with
respect to the Company or any Grantor which constitutes an event of default under the ABL
Credit Agreement (in each case, so long as the acceleration, failure to pay amounts due at
final maturity or such Insolvency or Liquidation Proceeding constituting an event of
default has not been rescinded or cured within such 10 Business Day period, and so long as
any unpaid amounts constituting ABL Obligations remain owing); provided that if
there is any failure to meet the condition described in the proviso of preceding clause (i)
hereof, the aforementioned date shall be extended until the first date upon which such
condition is satisfied, and (2) ends on the 90th day after the start of the
period described in clause (1) above.

     (iv) The obligations of the ABL Secured Parties to sell their respective ABL
Obligations under this Section 3.4(g) are several and not joint and several. To the extent
any ABL Secured Party breaches its obligation to sell its ABL Obligations under this
Section 3.4(g) (a “Defaulting ABL Secured Party”), nothing in this Section 3.4(g)
shall be deemed to require the ABL Collateral Agent or any other ABL Secured Party to
purchase such Defaulting ABL Secured Party’s ABL Obligations for resale to the holders of
Term Obligations and in all cases, the ABL Collateral Agent and each ABL Secured Party
complying with the terms of this Section 3.4(g) shall not be deemed to be in default of
this Agreement or otherwise be deemed liable for any action or inaction of any Defaulting
ABL Secured Party; provided that nothing in this clause (iv) shall require any
Eligible Term Purchaser to purchase less than all of the ABL Obligations.

     (v) Each Grantor irrevocably consents to any assignment effected to one or more
Eligible Term Purchasers pursuant to this Section 3.4(g) (so long as they meet all
eligibility standards contained in all relevant Term Documents, other than obtaining the
consent of any Grantor to an assignment to the extent required by such ABL Documents) for
purposes of all Term Documents and hereby agrees that no further consent from such Grantor
shall be required.

          3.5.
Insolvency or Liquidation Proceedings.

          (a)
Finance and Sale Issues. Until the Discharge of ABL Obligations has occurred, if
the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and
the ABL Collateral Agent shall desire to permit the use of cash collateral constituting ABL
Priority Collateral on which the ABL Collateral Agent or any other creditor has a Lien or to permit
the Company or any other Grantor to obtain a DIP Financing, then the Term Collateral Agent, on
behalf of itself and the Term Secured Parties, agrees that it will raise no objection to such use
of cash collateral constituting ABL Priority Collateral or to the fact that such DIP Financing may
be granted Liens on the ABL Priority Collateral and will not request adequate protection or any
other relief in connection therewith (except, as expressly agreed by the ABL Collateral Agent or to
the extent permitted by Section 3.5(c)(Adequate Protection)) and, to the extent the Liens on the
ABL Priority Collateral securing the ABL Obligations are subordinated or pari passu with
the Liens on the ABL Priority Collateral securing such DIP Financing, the Term Collateral Agent
will subordinate its Liens in the ABL Priority Collateral to the Liens securing such DIP Financing
(and all obligations

 

 

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relating thereto). The Term Collateral Agent, on behalf of the Term Secured Parties, agrees that
it will not raise any objection or oppose a sale or other disposition of any ABL Priority
Collateral free and clear of its Liens (subject to attachment of proceeds with respect to the
Second Priority Lien on the ABL Priority Collateral in favor of the Term Collateral Agent in the
same order and manner as otherwise set forth herein) or other claims under Section 363 of the
Bankruptcy Code if the ABL Secured Parties have consented to such sale or disposition of such
assets.

          (b) Relief from the Automatic Stay. Until the Discharge of ABL Obligations has
occurred, the Term Collateral Agent, on behalf of itself and the Term Secured Parties, agrees that
none of them shall seek relief from the automatic stay or any other stay in any Insolvency or
Liquidation Proceeding in respect of the ABL Priority Collateral, without the prior written consent
of the ABL Collateral Agent.

          (c) Adequate Protection. The Term Collateral Agent, on behalf of itself and the Term
Secured Parties, agrees that none of them shall contest (or support any other person contesting)
(i) any request by the ABL Collateral Agent or the ABL Secured Parties for adequate protection with
respect to any ABL Priority Collateral or (ii) any objection by the ABL Collateral Agent or the ABL
Secured Parties to any motion, relief, action or proceeding based on the ABL Collateral Agent or
the ABL Secured Parties claiming a lack of adequate protection with respect to the ABL Priority
Collateral. Notwithstanding the foregoing provisions in this Section 3.5(c), in any Insolvency or
Liquidation Proceeding, (A) if the ABL Secured Parties (or any subset thereof) are granted adequate
protection in the form of additional collateral in the nature of assets constituting ABL Priority
Collateral in connection with any DIP Financing, then the Term Collateral Agent, on behalf of
itself or any of the Term Secured Parties, may seek or request adequate protection in the form of a
Lien on such additional collateral, which Lien will be subordinated to the Liens securing the ABL
Obligations and such DIP Financing (and all obligations relating thereto) on the same basis as the
other Liens on ABL Priority Collateral securing the Term Obligations are so subordinated to the ABL
Obligations under this Agreement, and (B) in the event the Term Collateral Agent, on behalf of
itself and the Term Secured Parties, seeks or requests adequate protection in respect of ABL
Priority Collateral securing Term Obligations and such adequate protection is granted in the form
of additional collateral in the nature of assets constituting ABL Priority Collateral, then the
Term Collateral Agent, on behalf of itself or any of the Term Secured Parties, agrees that the ABL
Collateral Agent shall also be granted a senior Lien on such additional collateral as security for
the ABL Obligations and for any such DIP Financing provided by the ABL Secured Parties and that any
Lien on such additional collateral securing the Term Obligations shall be subordinated to the Liens
on such collateral securing the ABL Obligations and any such DIP Financing provided by the ABL
Secured Parties (and all obligations relating thereto) and to any other Liens granted to the ABL
Secured Parties as adequate protection on the same basis as the other Liens on ABL Priority
Collateral securing the Term Obligations are so subordinated to such ABL Obligations under this
Agreement.

          (d) No Waiver. Subject to the proviso in clause (ii) of Section 3.2(a) (Exercise of
Remedies), nothing contained herein shall prohibit or in any way limit the ABL Collateral Agent or
any ABL Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to
any action taken by the Term Collateral Agent or any of the Term Secured Parties in respect of the
ABL Priority Collateral, including the seeking by the Term Collateral Agent or any Term Secured
Parties of adequate protection in respect thereof or the asserting by the Term Collateral Agent or
any Term Secured Parties of any of its rights and remedies under the Term Documents or otherwise in
respect thereof.

 

 

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          (e) Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt
obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor
are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan,
both on account of ABL Obligations and on account of Term Obligations, then, to the extent the
debt obligations distributed on account of the ABL Obligations and on account of the Term
Obligations are secured by Liens upon the same property, the provisions of this Agreement will
survive the distribution of such debt obligations pursuant to such plan and will apply with like
effect to the Liens securing such debt obligations.

          (f) Post-Petition Interest.

     (i) Neither the Term Collateral Agent nor any Term Secured Party shall oppose or seek
to challenge any claim by the ABL Collateral Agent or any ABL Secured Party for allowance
in any Insolvency or Liquidation Proceeding of ABL Obligations consisting of post-petition
interest, fees or expenses to the extent of the value of the ABL Secured Party’s Lien on
the ABL Priority Collateral, without regard to the existence of the Lien of the Term
Collateral Agent on behalf of the Term Secured Parties on the ABL Priority Collateral.

     (ii) Neither the ABL Collateral Agent nor any other ABL Secured Party shall oppose or
seek to challenge any claim by the Term Collateral Agent or any Term Secured Party for
allowance in any Insolvency or Liquidation Proceeding of Term Obligations consisting of
post-petition interest, fees or expenses to the extent of the value of the Lien of the Term
Collateral Agent on behalf of the Term Secured Parties on the ABL Priority Collateral (after
taking into account the Lien of the ABL Secured Parties on the ABL Priority Collateral).

          (g) Waiver. The Term Collateral Agent, for itself and on behalf of the Term
Secured Parties, waives any claim it may hereafter have against any ABL Secured Party arising
out of the election of any ABL Secured Party of the application of Section 1111(b)(2) of the
Bankruptcy Code, and/or out of any cash collateral or financing arrangement or out of any grant of a
security interest in connection with the ABL Priority Collateral in any Insolvency or Liquidation
Proceeding.

          3.6. Reliance; Waivers; Etc.

          (a) Reliance. Other than any reliance on the terms of this Agreement, the Term
Collateral Agent, on behalf of itself and the Term Secured Parties under its Term Documents,
acknowledges that it and such Term Secured Parties have, independently and without reliance on the
ABL Collateral Agent or any ABL Secured Parties, and based on documents and information deemed by
them appropriate, made their own credit analysis and decision to enter into such Term Documents
and be bound by the terms of this Agreement and they will continue to make their own credit
decision in taking or not taking any action under the Term Credit Agreement or this Agreement.

          (b) No Warranties or Liability. The Term Collateral Agent, on behalf of itself and the
Term Obligations, acknowledges and agrees that the ABL Collateral Agent and the ABL Secured Parties
have made no express or implied representation or warranty, including with respect to the
execution, validity, legality, completeness, collectibility or enforceability of any of the ABL
Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. The
ABL Secured Parties will be entitled to manage and supervise their respective loans and extensions
of credit under their respective ABL Documents in accordance with law and as they may otherwise,

 

 

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in their sole discretion, deem appropriate. The ABL Collateral Agent and the ABL Secured Parties
shall have no duty to the Term Collateral Agent or any of the Term Secured Parties to act or
refrain from acting in a manner which allows, or results in, the occurrence or continuance of an
event of default or default under any agreements with the Company or any other Grantor (including
the ABL Documents and the Term Documents), regardless of any knowledge thereof which they may have
or be charged with.

          (c) No Waiver of Lien Priorities.

     (i) No right of the ABL Secured Parties, the ABL Collateral Agent or any of them to
enforce any provision of this Agreement or any ABL Document shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or any other
Grantor or by any act or failure to act by any ABL Secured Party or the ABL Collateral
Agent, or by any noncompliance by any Person with the terms, provisions and covenants of
this Agreement, any of the ABL Documents or any of the Term Documents, regardless of any
knowledge thereof which the ABL Collateral Agent or the ABL Secured Parties, or any of
them, may have or be otherwise charged with.

     (ii) Without in any way limiting the generality of the foregoing paragraph (but
subject to the rights of the Company and the other Grantors under the ABL Documents and
subject to the provisions of Section 3.4(c) (Amendments)), the ABL Secured Parties, the ABL
Collateral Agent and any of them may, at any time and from time to time in accordance with
the ABL Documents and/or applicable law, without the consent of, or notice to, the Term
Collateral Agent or any Term Secured Party, without incurring any liabilities to the Term
Collateral Agent or any Term Secured Parties and without impairing or releasing the Lien
priorities and other benefits provided in this Agreement (even if any right of subrogation
or other right or remedy of the Term Collateral Agent or any Term Secured Party is
affected, impaired or extinguished thereby) do any one or more of the following:

     (1) sell, exchange, realize upon, enforce or otherwise deal with in any manner
(subject to the terms hereof) and in any order any part of the ABL Priority Collateral or
any liability of the Company or any other Grantor to the ABL Secured Parties or the ABL
Collateral Agent, or any liability incurred directly or indirectly in respect thereof;

     (2) settle or compromise any ABL Obligation or any other liability of the Company or
any other Grantor or any security therefor or any liability incurred directly or indirectly
in respect thereof; and

     (3) exercise or delay in or refrain from exercising any right or remedy against the
Company or any security or any other Grantor or any other Person, elect any remedy and
otherwise deal freely with the Company, any other Grantor or any ABL Priority Collateral
and any security and any guarantor or any liability of the Company or any other Grantor to
the ABL Secured Parties or any liability incurred directly or indirectly in respect
thereof.

     (iii) The Term Collateral Agent, on behalf of itself and the Term Secured Parties,
also agrees that the ABL Secured Parties and the ABL Collateral Agent shall have no
liability to the Term Collateral Agent or any Term Secured Party, and the Term Collateral
Agent, on behalf of itself and the Term Secured Parties, hereby waives any claim against
any ABL Secured Party or the ABL Collateral Agent, arising out of any and all actions which
the ABL

 

 

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Secured Parties or the ABL Collateral Agent may take or permit or omit to take with respect
to:

     (4) the ABL Documents (other than this Agreement);

     (5) the collection of the ABL Obligations; or

     (6) the foreclosure upon, or sale, liquidation or other disposition of, any ABL
Priority Collateral.

             The Term Collateral Agent, on behalf of itself and the Term Secured Parties, agrees that the
ABL Secured Parties and the ABL Collateral Agent have no duty to the Term Collateral Agent or the
Term Secured Parties in respect of the maintenance or preservation of the ABL Priority Collateral,
the ABL Obligations or otherwise.

     (iv) The Term Collateral Agent, on behalf of itself and the Term Secured Parties,
agrees not to assert and hereby waives, to the fullest extent permitted by law, any right
to demand, request, plead or otherwise assert or otherwise claim the benefit of, any
marshalling, appraisal, valuation or other similar right that may otherwise be available
under applicable law with respect to the ABL Priority Collateral or any other similar
rights a junior secured creditor may have under applicable law.

             (d) Obligations Unconditional. All rights, interests, agreements and obligations of
the ABL Collateral Agent and the ABL Secured Parties and the Term Collateral Agent and the Term
Secured Parties, respectively, hereunder shall remain in full force and effect irrespective of:

     (i) any lack of validity or enforceability of any ABL Document or any Term Document;

     (ii) except as otherwise set forth in the Agreement, any change permitted hereunder in
the time, manner or place of payment of, or in any other terms of, all or any of the ABL
Obligations or Term Obligations, or any amendment or waiver or other modification permitted
hereunder, whether by course of conduct or otherwise, of the terms of any ABL Document or
any Term Document;

     (iii) any exchange of any security interest in any ABL Priority Collateral or any
amendment, waiver or other modification permitted hereunder, whether in writing or by
course of conduct or otherwise, of all or any of the ABL Obligations or Term Obligations;

     (iv) the commencement of any Insolvency or Liquidation Proceeding in respect of the
Company or any other Grantor; or

     (v) any other circumstances which otherwise might constitute a defense available to,
or a discharge of, the Company or any other Grantor in respect of the ABL Obligations, or
of the Term Collateral Agent or any Term Secured Party in respect of this Agreement.

Section 4. Cooperation With Respect To ABL Priority Collateral.

 

 

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          4.1. Consent to License to Use Intellectual Property. The Term Collateral Agent (and
any purchaser, assignee or transferee of assets as provided in Section 4.3) (a) consents (without
any representation, warranty or obligation whatsoever) to the grant by any Grantor to the ABL
Collateral Agent of a non-exclusive royalty-free license to use for a period not to exceed 180
days (commencing with the initiation of any enforcement of Liens by either the Term Collateral
Agent (provided that the ABL Collateral Agent has received notice thereof) or the ABL Collateral
Agent) any Patent, Trademark or proprietary information of such Grantor that is subject to a Lien
held by the Term Collateral Agent (or any Patent, Trademark or proprietary information acquired by
such purchaser, assignee or transferee from any Grantor, as the case may be) and (b) grants, in
its capacity as a secured party (or as a purchaser, assignee or transferee, as the case may be),
to the ABL Collateral Agent a non-exclusive royalty-free license to use for a period not to exceed
180 days (commencing with (x) the initiation of any enforcement of Liens by either the Term
Collateral Agent (provided that the ABL Collateral Agent has received notice thereof) or the ABL
Collateral Agent or (y) the purchase, assignment or transfer, as the case may be) any Patent,
Trademark or proprietary information that is subject to a Lien held by the Term Collateral Agent
(or subject to such purchase, assignment or transfer, as the case may be), in each case in
connection with the enforcement of any Lien held by the ABL Collateral Agent upon any Inventory or
other ABL Priority Collateral of any Grantor and to the extent the use of such Patent, Trademark
or proprietary information is necessary or appropriate, in the good faith opinion of the ABL
Collateral Agent, to process, ship, produce, store, complete, supply, lease, sell or otherwise
dispose of any such inventory in any lawful manner.

          4.2. Access to Information. If the Term Collateral Agent takes actual possession of
any documentation of a Grantor (whether such documentation is in the form of a writing or is
stored in any data equipment or data record in the physical possession of the Term Collateral
Agent), then upon request of the ABL Collateral Agent and reasonable advance notice, the Term
Collateral Agent will permit the ABL Collateral Agent or its representative to inspect and copy
such documentation if and to the extent the ABL Collateral Agent certifies to the Term Collateral
Agent that:

          (a) such documentation contains or may contain information necessary or appropriate, in the
good faith opinion of the ABL Collateral Agent, to the enforcement of the ABL Collateral Agent’s
Liens upon any ABL Priority Collateral; and

          (b) the ABL Collateral Agent and the ABL Secured Parties are entitled to receive and use such
information under applicable law and, in doing so, will comply with all obligations imposed by law
or contract in respect of the disclosure or use of such information.

          4.3.
Access to Property to Process and Sell Inventory. (a) (i) If the ABL
Collateral Agent commences any action or proceeding with respect to any of its rights or
remedies
(including, but not limited to, any action of foreclosure), enforcement, collection or
execution with
respect to the ABL Priority Collateral (“ABL Priority Collateral Enforcement Actions”)
or if the
Term Collateral Agent commences any action or proceeding with respect to any of its rights or
remedies (including any action of foreclosure), enforcement, collection or execution with
respect to
the TL Priority Collateral and the Term Collateral Agent (or a purchaser at a foreclosure sale
conducted in foreclosure of any Term Collateral Agent’s Liens) takes actual or constructive
possession of TL Priority Collateral of any Grantor (“TL Priority Collateral Enforcement
Actions”),
then the Term Secured Parties and the Term Collateral Agent shall (subject to, in the case of
any TL
Priority Collateral Enforcement Action, a prior written request by the ABL Collateral Agent to
the
Term Collateral Agent (the “TL Priority Collateral Enforcement Action Notice”)) (x)
cooperate with

 

 

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the ABL Collateral Agent (and with its officers, employees, representatives and agents) in its
efforts to conduct ABL Priority Collateral Enforcement Actions in the ABL Priority Collateral and
to finish any work-in-process and process, ship, produce, store, complete, supply, lease, sell or
otherwise handle, deal with, assemble or dispose of, in any lawful manner, the ABL Priority
Collateral, (y) not hinder or restrict in any respect the ABL Collateral Agent from conducting ABL
Priority Collateral Enforcement Actions in the ABL Priority Collateral or from finishing any
work-in-process or processing, shipping, producing, storing, completing, supplying, leasing,
selling or otherwise handling, dealing with, assembling or disposing of, in any lawful manner, the
ABL Priority Collateral, and (z) permit the ABL Collateral Agent, its employees, agents, advisers
and representatives, at the cost and expense of the ABL Secured Parties (but with the Grantors’
reimbursement and indemnity obligation with respect thereto, which shall not be limited), to enter
upon and use the TL Priority Collateral (including, without limitation, equipment, processors,
computers and other machinery related to the storage or processing of records, documents or files
and intellectual property), for a period commencing on (I) the date of the initial ABL Priority
Collateral Enforcement Action or the date of delivery of the TL Priority Collateral Enforcement
Action Notice, as the case may be, and (II) ending on the earlier of the date occurring 180 days
thereafter and the date on which all ABL Priority Collateral (other than ABL Priority Collateral
abandoned by the ABL Collateral Agent in writing) has been removed from the TL Priority Collateral
(such period, the “ABL Priority Collateral Processing and Sale Period”), for purposes of:

     (B) assembling and storing the ABL Priority Collateral and completing the processing of
and turning into finished goods any ABL Priority Collateral consisting of work-in-process;

     (C) selling any or all of the ABL Priority Collateral located in or on such TL
Priority Collateral, whether in bulk, in lots or to customers in the ordinary course of
business or otherwise;

     (D) removing and transporting any or all of the ABL Priority Collateral located in or
on such TL Priority Collateral;

     (E) otherwise processing, shipping, producing, storing, completing, supplying,
leasing, selling or otherwise handling, dealing with, assembling or disposing of, in
any lawful
manner, the ABL Priority Collateral; and/or

     (F) taking reasonable actions to protect, secure, and otherwise enforce the rights
or remedies of the ABL Secured Parties and/or the ABL Collateral Agent (including with
respect to any ABL Priority Collateral Enforcement Actions) in and to the ABL Priority
Collateral;

provided, however, that nothing contained in this Agreement shall restrict the
rights of the Term Collateral Agent from selling, assigning or otherwise transferring any TL
Priority Collateral prior to the expiration of such ABL Priority Collateral Processing and Sale
Period if the purchaser, assignee or transferee thereof agrees in writing (for the benefit of the
ABL Collateral Agent and the ABL Secured Parties) to be bound by the provisions of this Section
4.3 and Section 4.1. If any stay or other order prohibiting the exercise of remedies with respect
to the ABL Priority Collateral has been entered by a court of competent jurisdiction, such ABL
Priority Collateral Processing and Sale Period shall be tolled during the pendency of any such
stay or other order.

 

 

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     (ii) During the period of actual occupation, use and/or control by the ABL Secured
Parties and/or the ABL Collateral Agent (or their respective employees, agents, advisers and
representatives) of any TL Priority Collateral, the ABL Secured Parties and the ABL
Collateral Agent shall be obligated to repair at their expense any physical damage to such
TL Priority Collateral resulting from such occupancy, use or control, and to leave such TL
Priority Collateral in substantially the same condition as it was at the commencement of
such occupancy, use or control, ordinary wear and tear excepted. Notwithstanding the
foregoing, in no event shall the ABL Secured Parties or the ABL Collateral Agent have any
liability to the Term Secured Parties and/or to the Term Collateral Agent pursuant to this
Section 4.3(a) as a result of any condition (including any environmental condition, claim or
liability) on or with respect to the TL Priority Collateral existing prior to the date of
the exercise by the ABL Secured Parties (or the ABL Collateral Agent, as the case may be) of
their rights under this Section 4.3(a) and the ABL Secured Parties shall have no duty or
liability to maintain the TL Priority Collateral in a condition or manner better than that
in which it was maintained prior to the use thereof by the ABL Secured Parties, or for any
diminution in the value of the TL Priority Collateral that results from ordinary wear and
tear resulting from the use of the TL Priority Collateral by the ABL Secured Parties in the
manner and for the time periods specified under this Section 4.3(a). Without limiting the
rights granted in this Section 4.3(a), the ABL Secured Parties and the ABL Collateral Agent
shall cooperate with the Term Secured Parties and/or the Term Collateral Agent in connection
with any efforts made by the Term Secured Parties and/or the Term Collateral Agent to sell
the TL Priority Collateral.

          (b) the Term Collateral Agent shall be entitled, as a condition of permitting such access and
use, to demand and receive assurances reasonably satisfactory to it that the access or use
requested and all activities incidental thereto:

     (i) will be permitted, lawful and enforceable under applicable law and will be
conducted in accordance with prudent manufacturing practices; and

     (ii) will be adequately insured for damage to property and liability to persons,
including property and liability insurance for the benefit of the Term Collateral Agent and
the holders of the Term Obligations, at no cost to the Term Collateral Agent or such
holders.

The Term Collateral Agent (x) shall provide reasonable cooperation to the ABL Collateral Agent in
connection with the manufacture, production, completion, handling, removal and sale of any ABL
Priority Collateral by the ABL Collateral Agent as provided above and (y) shall be entitled to
receive, from the ABL Collateral Agent, fair compensation and reimbursement for their reasonable
costs and expenses incurred in connection with such cooperation, support and assistance to the ABL
Collateral Agent. The Term Collateral Agent and/or any such purchaser (or its transferee or
successor) shall not otherwise be required to manufacture, produce, complete, remove, insure,
protect, store, safeguard, sell or deliver any inventory subject to any First Priority Lien held
by the ABL Collateral Agent or to provide any support, assistance or cooperation to the ABL
Collateral Agent in respect thereof.

          4.4. Term Collateral Agent Assurances. The Term Collateral Agent may condition its
performance of any obligation set forth in this Article 4 upon its prior receipt (without cost to
it) of:

 

 

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          (a) such assurances as it may reasonably request to confirm that the performance
of such obligation and all activities of the ABL Collateral Agent or its officers, employees
and agents
in connection therewith or incidental thereto:

     (i) will be permitted, lawful and enforceable under applicable law; and

     (ii) will not impose upon the Term Collateral Agent (or any Term Secured Party) any
legal duty, legal liability or risk of uninsured loss; and

          (b) such indemnity or insurance as the Term Collateral Agent may reasonably
request in connection therewith.

          4.5. Grantor Consent. The Company and the other Grantors consent to the performance
by the Term Collateral Agent of the obligations set forth in this Article 4 and acknowledge and
agree that neither the Term Collateral Agent (nor any holder of Term Obligations) shall ever be
accountable or liable for any action taken or omitted by the ABL Collateral Agent or any ABL
Secured Party or its or any of their officers, employees, agents successors or assigns in
connection therewith or incidental thereto or in consequence thereof, including any improper use
or disclosure of any proprietary information or other intellectual property by the ABL Collateral
Agent or any ABL Secured Party or its or any of their officers, employees, agents, successors or
assigns or any other damage to or misuse or loss of any property of the Grantors as a result of
any action taken or omitted by the ABL Collateral Agent or its officers, employees, agents,
successors or assigns.

Section 5. Application Of Proceeds.

          5.1. Application of Proceeds in Distributions by the Term Collateral
Agent.

          (a) The Term Collateral Agent will apply the proceeds of any collection, sale, foreclosure or
other realization upon any TL Priority Collateral and, after the Discharge of ABL Obligations, the
proceeds of any collection, sale, foreclosure or other realization of any ABL Priority Collateral
by Term Collateral Agent as expressly permitted hereunder, and, in each case the proceeds of any
title insurance policy required under any Term Document or ABL Document, in the following order of
application:

     First, to the payment of all amounts payable under the Term Documents on account of
the Term Collateral Agent’s fees and any reasonable legal fees, costs and expenses or other
liabilities of any kind incurred by the Term Collateral Agent or any co-trustee or agent of
the Term Collateral Agent in connection with any Term Document;

     Second, to the Term Administrative Agent for application to the payment of all
outstanding Term Obligations that are then due and payable in such order as may be provided
in the Term Documents in an amount sufficient to pay in full in cash all outstanding Term
Obligations that are then due and payable (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, and including any
applicable post-default rate, specified in the Term Documents, even if such interest is not
enforceable, allowable or allowed as a claim in such proceeding and including the discharge
or cash collateralization (at 110% of the aggregate undrawn amount (as determined by the
Term Administrative Agent)) of all outstanding letters of credit and bank guaranties, if
any, constituting Term Obligations);

 

 

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     Third, prior to the repayment in full of the Intermediate Holdco Credit Document
Obligations (as defined in the Term Pledge Agreement), and to the extent the respective TL
Priority Collateral constitutes collateral provided under the Term Pledge Agreement by
Intermediate Holdco, to repay Intermediate Holdco Credit Document Obligations in accordance
with the relevant provisions of the Term Security Documents;

     Fourth, to the payment of all amounts payable under the ABL Documents on account of the
ABL Collateral Agent’s fees and any reasonable legal fees, costs and expenses or other
liabilities of any kind incurred by the ABL Collateral Agent or any co-trustee or agent of
the ABL Collateral Agent in connection with any ABL Document;

     Fifth, to the ABL Administrative Agent for application to the payment of all
outstanding ABL Obligations that are then due and payable in such order as may be provided
in the ABL Documents in an amount sufficient to pay in full in cash all outstanding ABL
Obligations that are then due and payable (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, including any
applicable post-default rate, specified in the ABL Documents, even if such interest is not
enforceable, allowable or allowed as a claim in such proceeding, and including the
discharge or cash collateralization (at 110% of the aggregate undrawn amount) of all
outstanding letters of credit and bank guaranties, if any, constituting ABL Obligations);
and

     Sixth, any surplus remaining after the payment in full in cash of the amounts
described in the preceding clauses will be paid to the Company or the applicable Grantor,
as the case may be, its successors or assigns, or as a court of competent jurisdiction may
direct.

          (b) In connection with the application of proceeds pursuant to Section 5.1(a), except as
otherwise directed by the Required Lenders under (and as defined in) the Term Documents, the Term
Collateral Agent may sell any non-cash proceeds for cash prior to the application of the proceeds
thereof.

          (c) If the Term Collateral Agent or any Term Secured Party collects or receives any proceeds
of such foreclosure, collection or other enforcement that should have been applied to the payment
of the ABL Obligations in accordance with Section 5.2(a) below, whether after the commencement of
an Insolvency or Liquidation Proceeding or otherwise, such Term Secured Party will forthwith
deliver the same to the ABL Collateral Agent, for the account of the holders of the ABL
Obligations, to be applied in accordance with Section 5.2(a). Until so delivered, such proceeds
will be held by that Term Secured Party for the benefit of the holders of the ABL Obligations.

          5.2. Application of Proceeds in Distributions by the ABL Collateral
Agent.

          (a) The ABL Collateral Agent will apply the proceeds of any collection, sale, foreclosure or
other realization upon any ABL Priority Collateral and, after the Discharge of ABL Obligations,
the proceeds of any collection, sale, foreclosure or other realization of any TL Priority
Collateral by the ABL Collateral Agent as expressly permitted hereunder, and the proceeds of any
title insurance policy required under any Term Document or ABL Document permitted to be received
by it, in the following order of application:

     First, to the payment of all amounts payable under the ABL Documents on account of the
ABL Collateral Agent’s fees and any reasonable legal fees, costs and expenses or other

 

 

Page 58

liabilities of any kind incurred by the ABL Collateral Agent or any co-trustee or agent of
the ABL Collateral Agent in connection with any ABL Document;

     Second, to the ABL Administrative Agent for application to the payment of all
outstanding ABL Obligations that are then due and payable in such order as may be provided
in the ABL Documents in an amount sufficient to pay in full in cash all outstanding ABL
Obligations that are then due and payable (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, and including any
applicable post-default rate, specified in the ABL Documents, even if such interest is not
enforceable, allowable or allowed as a claim in such proceeding and including the discharge
or cash collateralization (at 110% of the aggregate undrawn amount) of all outstanding
letters of credit and bank guaranties, if any, constituting ABL Obligations);

     Third, to the payment of all amounts payable under the Term Documents on account of the
Term Collateral Agent’s fees and any reasonable legal fees, costs and expenses or other
liabilities of any kind incurred by the Term Collateral Agent or any co-trustee or agent of
the Term Collateral Agent in connection with any Term Document;

     Fourth, to the Term Administrative Agent for application to the payment of all
outstanding Term Obligations that are then due and payable in such order as may be provided
in the Term Documents in an amount sufficient to pay in full in cash all outstanding Term
Obligations that are then due and payable (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, and including any
applicable post-default rate, specified in the Term Documents, even if such interest is not
enforceable, allowable or allowed as a claim in such proceeding and including the discharge
or cash collateralization (at 110% of the aggregate undrawn amount (as determined by the
Term Administrative Agent)) of all outstanding letters of credit and bank guaranties, if
any, constituting Term Obligations);

     Fifth, prior to the repayment in full of the Intermediate Holdco Credit Document
Obligations (as defined in the Term Pledge Agreement), and to the extent the respective ABL
Priority Collateral constitutes collateral provided under the Term Pledge Agreement by
Intermediate Holdco, to repay Intermediate Holdco Credit Document Obligations in accordance
with the relevant provisions of the Term Security Documents; and

     Sixth, any surplus remaining after the payment in full in cash of the amounts
described in the preceding clauses will be paid to the Company or the other applicable
Grantor, as the case may be, its successors or assigns, or as a court of competent
jurisdiction may direct.

          (b) In connection with the application of proceeds pursuant to Section 5.2(a), except as
otherwise directed by the Required Lenders under (and as defined in) the ABL Documents, the ABL
Collateral Agent may sell any non-cash proceeds for cash prior to the application of the proceeds
thereof.

          (c) If the ABL Collateral Agent or any ABL Secured Party collects or receives any proceeds of
such foreclosure, collection or other enforcement that should have been applied to the payment of
the Term Obligations in accordance with Section 5.1(a) above, whether after the commencement of an
Insolvency or Liquidation Proceeding or otherwise, such ABL Secured Party

 

 

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will forthwith deliver the same to the Term Collateral Agent, for the account of the holders of
the Term Obligations, to be applied in accordance with Section 5.1(a). Until so delivered, such
proceeds will be held by that ABL Secured Party for the benefit of the holders of the Term
Obligations.

Section 6. Miscellaneous.

          6.1. Conflicts. In the event of any conflict between the provisions of this Agreement
and the provisions of the Term Documents or the ABL Documents, the provisions of this Agreement
shall govern and control. Each Secured Party acknowledges and agrees that the terms and provisions
of this Agreement do not violate any term or provisions of its respective Term Document or ABL
Document.

          6.2.
Effectiveness; Continuing Nature of this Agreement; Severability. (a) This
Agreement shall become effective when executed and delivered by the parties hereto. The terms of
this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or
Liquidation Proceeding. Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall not invalidate 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. All references to the Company or any other Grantor shall include the
Company or such Grantor as debtor and debtor in possession and any receiver or trustee for the
Company or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding.

     (b) This Agreement shall terminate and be of no further force and effect:

     (i) with respect to the ABL Collateral Agent, the ABL Secured Parties and the ABL
Obligations, upon the Discharge of ABL Obligations, subject to the rights of the ABL
Secured Parties under Section 6.17 (Avoidance Issues); and

     (ii) with respect to the Term Collateral Agent, the Term Secured Parties and the Term
Obligations, upon the Discharge of Term Obligations, subject to the rights of the Term
Secured Parties under Section 6.17 (Avoidance Issues).

          6.3. Amendments; Waivers. No amendment, modification or waiver of any of the
provisions of this Agreement by the Term Collateral Agent or the ABL Collateral Agent shall be
deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its
authorized agent and each waiver, if any, shall be a waiver only with respect to the specific
instance involved and shall in no way impair the rights of the parties making such waiver or the
obligations of the other parties to such party in any other respect or at any other time.
Notwithstanding the foregoing, the Company or any other Grantor shall not have any right to consent
to or approve any amendment, modification or waiver of any provision of this Agreement except to
the extent its rights are directly affected (which includes any amendment to the Grantors’ ability
to cause additional obligations to constitute Term Obligations or ABL Obligations as the Company
and/or any other Grantor may designate).

          6.4.
Information Concerning Financial Condition of Holdings and its
Subsidiaries. The Term Collateral Agent and the Term Secured Parties, on the one hand, and the ABL Collateral
Agent and the ABL Secured Parties, on the other hand, shall each be responsible for keeping
themselves informed of (a) the financial condition of Holdings and its Subsidiaries and all
endorsers and/or guarantors of the Term Obligations or the ABL Obligations and (b) all other
circumstances

 

Page 60

bearing upon the risk of nonpayment of the ABL Obligations or the Term Obligations. The Term
Collateral Agent and Term Secured Parties shall have no duty to advise the ABL Collateral Agent or
any ABL Secured Parties of information known to it or them regarding such condition or any such
circumstances or otherwise. The ABL Collateral Agent and ABL Secured Parties shall have no duty to
advise the Term Collateral Agent or any Term Secured Parties of information known to it or them
regarding such condition or any such circumstances or otherwise. In the event that either the Term
Collateral Agent or any of the Term Secured Parties, on the one hand or the ABL Collateral Agent or
any of the ABL Secured Parties, on the other hand, in its or their sole discretion, undertakes at
any time or from time to time to provide any such information to any other party hereto, it or they
shall be under no obligation (w) to make, and such informing arty shall not make, any express or
implied representation or warranty, including with respect to the accuracy, completeness,
truthfulness or validity of any such information so provided, (x) to provide any additional
information or to provide any such information on any subsequent occasion, (y) to undertake any
investigation or (z) to disclose any information which, pursuant to accepted or reasonable
commercial finance practices, such party wishes to maintain confidential or is otherwise required
to maintain confidential.

          6.5.
Submission to Jurisdiction; Waivers. (a) ALL JUDICIAL PROCEEDINGS BROUGHT
AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT
OF COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING
THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (a)
ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (b)
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (c) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH
PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT
REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 6.6; AND (d)
AGREES THAT SERVICE AS PROVIDED IN CLAUSE (c) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION
OVER THE APPLICABLE PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES
EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT.

          (b) EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER. THE SCOPE OF THIS WAIVER IS
INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT
RELATE TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS
A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS
WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS
RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY
NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY
REFERRING TO THIS SECTION 6.5(b) AND EXECUTED BY EACH OF THE PARTIES HERETO), AND

 

Page 61

THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS
HERETO. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY
THE COURT.

          6.6. Notices. All notices to the ABL Secured Parties and the Term Secured Parties
permitted or required under this Agreement shall also be sent to the ABL Collateral Agent and the
Term Collateral Agent, respectively. Unless otherwise specifically provided herein, any notice
hereunder shall be in writing and may be personally served, telexed or sent by telefacsimile or
United States mail or courier service and shall be deemed to have been given when delivered in
person or by courier service and signed for against receipt thereof, upon receipt of telefacsimile
or telex, or three Business Days after depositing it in the United States mail with postage prepaid
and properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as
set forth below each party’s name on the signature pages hereto, or, as to each party, at such
other address as may be designated by such party in a written notice to all of the other parties.

          6.7. Further Assurances. The Term Collateral Agent, on behalf of itself and the Term
Secured Parties, and the ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, and
each Grantor, agrees that each of them shall take such further action and shall execute (without
recourse or warranty) and deliver such additional documents and instruments (in recordable form, if
requested) as the Term Collateral Agent or the ABL Collateral Agent may reasonably request to
effectuate the terms of and the lien priorities contemplated by this Agreement. The parties hereto
agree, subject to the other provisions of this Agreement:

          (a) upon request by the Term Collateral Agent or the ABL Collateral Agent, to cooperate in
good faith (and to direct their counsel to cooperate in good faith) from time to time in order to
determine the specific items included in the TL Priority Collateral and the ABL Priority Collateral
and the steps taken to perfect their respective Liens thereon and the identity of the respective
parties obligated under the Term Documents and the ABL Documents; and

          (b) that the Term Security Documents and the ABL Security Documents creating Liens on the TL
Priority Collateral and the ABL Priority Collateral shall be in all material respects the same
forms of documents other than with respect to the First Priority and the Second Priority nature of
the Liens created thereunder in such Collateral.

          6.8. APPLICABLE LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN SECTION 5-1401
AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATION LAWS).

          6.9. Binding on Successors and Assigns. This Agreement shall be binding upon the
parties hereto, the Term Secured Parties, the ABL Secured Parties and their respective successors
and assigns.

          6.10. Specific Performance. Each of the Term Collateral Agent and the ABL Collateral
Agent may demand specific performance of this Agreement. The Term Collateral Agent, on behalf of
itself and the Term Secured Parties, and the ABL Collateral Agent, on behalf of itself and the ABL
Secured Parties, hereby irrevocably waives any defense based on the adequacy of a

 

Page 62

remedy at law and any other defense which might be asserted to bar the remedy of specific
performance in any action which may be brought by the Term Collateral Agent or the ABL Collateral
Agent, as the case may be.

          6.11. Headings. Section headings in this Agreement are included herein for convenience
of reference only and shall not constitute a part of this Agreement for any other purpose or be
given any substantive effect.

          6.12. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract. Delivery of an executed counterpart
of a signature page of this Agreement or any document or instrument delivered in connection
herewith by telecopy shall be effective as delivery of a manually executed counterpart of this
Agreement or such other document or instrument, as applicable.

          6.13.
Authorization; No Conflict. Each of the parties represents and warrants to all
other parties hereto that the execution, delivery and performance by or on behalf of such party to
this Agreement has been duly authorized by all necessary action, corporate or otherwise, does not
violate any provision of law, governmental regulation, or any agreement or instrument by which such
party is bound, and requires no governmental or other consent that has not been obtained and is not
in full force and effect.

          6.14. No Third Party Beneficiaries. This Agreement and the rights and benefits hereof
shall inure to the benefit of the Term Secured Parties, the ABL Secured Parties and each of their
respective successors and assigns. No other Person shall have or be entitled to assert rights or
benefits hereunder.

          6.15.
Provisions Solely to Define Relative Right. (a) The provisions of this
Agreement are and are intended solely for the purpose of defining the relative rights of the Term
Secured Parties on the one hand and the ABL Secured Parties on the other hand. None of the Company,
any other Grantor or any other creditor thereof shall have any rights hereunder. Nothing in this
Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which
are absolute and unconditional, to pay the Term Obligations and the ABL Obligations as and when the
same shall become due and payable in accordance with their terms.

          (b) Nothing in this Agreement shall relieve the Company or any Grantor from the performance
of any term, covenant, condition or agreement on the Company’s or such Grantor’s part to be
performed or observed under or in respect of any of the Collateral pledged by it or from any
liability to any Person under or in respect of any of such Collateral or impose any obligation on
any Collateral Agent to perform or observe any such term, covenant, condition or agreement on the
Company’s or such Grantor’s part to be so performed or observed or impose any liability on any
Collateral Agent for any act or omission on the part of the Company’s or such any Grantor relative
thereto or for any breach of any representation or warranty on the part of the Company or such
Grantor contained in this Agreement or any ABL Document or any Term Document, or in respect of the
Collateral pledged by it. The obligations of the Company and each Grantor contained in this
paragraph shall survive the termination of this Agreement and the discharge of the Company’s or
such Grantor’s other obligations hereunder.

 

Page 63

          (c) Each of the Collateral Agents and the Administrative Agents acknowledge and agree that
neither has made any representation or warranty with respect to the execution, validity, legality,
completeness, collectability or enforceability of any other ABL Document or any Term Document.
Except as otherwise provided in this Agreement, each of the Collateral Agents and the
Administrative Agents will be entitled to manage and supervise their respective extensions of
credit to Holdings or any of its Subsidiaries in accordance with law and their usual practices,
modified from time to time as they deem appropriate.

          6.16. Additional Grantors. Holdings and the Company will cause each Person that
becomes a Grantor or is a Domestic Subsidiary required by any Term Document or ABL Document to
become a party to this Agreement to become a party to this Agreement, for all purposes of this
Agreement, by causing such Person to execute and deliver to the parties hereto an Intercreditor
Agreement Joinder, whereupon such Person will be bound by the terms hereof to the same extent as if
it had executed and delivered this Agreement as of the date hereof. Holdings and the Company shall
promptly provide each Collateral Agent with a copy of each Intercreditor Agreement Joinder executed
and delivered pursuant to this Section 6.16.

          6.17. Avoidance Issues. If any ABL Secured Party or Term Secured Party is required in
any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate
of the Company or any other Grantor any amount (a “Recovery”), then such ABL Secured Party or Term
Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations or Term
Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall
have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and
effect, and such prior termination shall not diminish, release, discharge, impair or otherwise
affect the obligations of the parties hereto from such date of reinstatement.

          6.18. Intercreditor Agreement. This Agreement is the Intercreditor Agreement referred
to in the ABL Credit Agreement and the Term Credit Agreement. Nothing in this Agreement shall be
deemed to subordinate the right of any ABL Secured Party to receive payment to the right of any
Term Secured Party to receive payment or of any Term Secured Party to receive payment to the right
of any ABL Secured Party to receive payment (whether before or after the occurrence of an
Insolvency or Liquidation Proceeding), it being the intent of the parties that this Agreement shall
effectuate a subordination of Liens but not a subordination of Indebtedness.

          6.19. Foreign Collateral. For avoidance of doubt, it is understood and agreed that the
Bermuda Term Borrower and various Foreign Subsidiaries of Holdings, the Company and/or the Bermuda
Term Borrower have granted security interests in certain of their property, securing their Term
Obligations, and that as of the date of this Agreement, no such security interests have been
provided by the Bermuda Term Borrower or any other Foreign Subsidiary to secure any ABL
Obligations. It is understood and agreed by all parties hereto that this Agreement does not apply
to any security interests granted by the Bermuda Term Borrower or any other Foreign Subsidiary, and
that any assets or property pledged by the Bermuda Term Borrower or any other Foreign Subsidiary to
secure (or which are subject to a Lien to secure) any Term Obligations or ABL Obligations shall not
be subject to the terms or provisions of this Agreement. Neither the Bermuda Term Borrower nor any
Foreign Subsidiary shall constitute a Grantor hereunder or be bound by the provisions hereof.

          6.20.
Intermediate Holdco Indebtedness; Intermediate Holdco Collateral. (a) The
parties hereto acknowledge and agree that, as contemplated by Sections 5.08 and 8.21 of the Term

 

Page 64

Credit Agreement, certain proceeds deposited on the Restatement Effective Date (as defined therein)
with the Intermediate Holdco Paying Agent (as defined in the Term Credit Agreement) are intended to
be applied to repay such Intermediate Holdco Indebtedness after the date hereof. The parties hereto
agree to the Intermediate Holdco Paying Agent’s application of funds held by it for such purpose,
and agree that the funds so deposited with the Intermediate Holdco Paying Agent on the Restatement
Effective Date pursuant to Section 5.08 of the Term Loan Agreement shall constitute neither ABL
Priority Collateral nor TL Priority Collateral for purposes of this Agreement (and shall not
constitute security for the Term Obligations or ABL Obligations), unless an Event of Default of the
type described in Section 10.05 of the Term Credit Agreement has occurred and is continuing.

          (b) The security interest granted pursuant to the Term Pledge Agreement (including pursuant
to Section 3.1 thereof) to the Pledgee (as defined therein) in the Intermediate Holdco Collateral
(as defined therein) shall: (I) to the extent such Intermediate Holdco Collateral constitutes TL
Priority Collateral, (x) in the case of the Intermediate Holdco Creditors, be a “second” priority
senior security interest in the Intermediate Holdco Collateral fully junior, subordinated and
subject to the “first” priority senior security interest granted to such Pledgee for the benefit
of the Term Secured Creditors in the Intermediate Holdco Collateral on the terms and conditions
set forth in the Term Security Documents and this Agreement and (y) be senior in priority to any
security interest granted pursuant to the ABL Security Documents for the benefit of the ABL
Secured Creditors, who shall, until the repayment in full of all obligations with respect to the
Intermediate Holdco Indebtedness, have a “third” priority senior security interest in the
Intermediate Holdco Collateral fully junior, subordinated and subject to the security interest
granted to the Pledgee (as defined in the Term Pledge Agreement), for the benefit of the
Intermediate Holdco Creditors, specified in preceding clause (I)(x); and (II) to the extent such
Intermediate Holdco Collateral constitutes ABL Priority Collateral, in the case of the
Intermediate Holdco Creditors, be a “third” priority senior security interest in the Intermediate
Holdco Collateral fully junior, subordinated and subject to (x) the “first” priority senior
security interest granted to such Pledgee for the benefit of the ABL Secured Creditors in the
Intermediate Holdco Collateral on the terms and conditions set forth in the ABL Security Documents
and this Agreement and (y) the “second” priority senior security interest granted to the Pledgee
for the benefit of the Term Secured Creditors in the Intermediate Holdco Collateral on the terms
and conditions set forth in the Term Security Documents and this Agreement.

          6.21. Cash Collateral (Term Credit Agreement). The parties hereto acknowledge and
agree that, all cash and Cash Equivalents (as defined in the Term Credit Agreement as in effect on
the date hereof, after giving effect to the Restatement Effective Date as defined therein)
actually delivered to the Term Administrative Agent or Term Collateral Agent pursuant to Sections
2B.07 and/or 4.02(a) of the Term Credit Agreement, but in each case only to the extent of the
aggregate stated amounts and/or face amounts of letters of credit and bank guarantees (calculated
in accordance with the Term Credit Agreement) exceed the sum of (x) the relevant commitments
thereunder plus (y) any required cushion or over-collateralization thereof, then such cash and
Cash Equivalents may be held as collateral as provided in the Term Credit Agreement and shall
constitute TL Priority Collateral rather than ABL Priority Collateral.

          6.22 Credit-Linked Deposits. The parties hereto acknowledge and agree that,
notwithstanding anything to the contrary contained herein, the Credit-Linked Deposits (as defined
in the Term Credit Agreement) shall remain property of the respective Term Lenders as provided in
the Term Credit Agreement and shall not constitute Collateral hereunder; provided, that,
without limiting the foregoing, if, notwithstanding the foregoing, such Credit-Linked Deposits (or
any portion thereof)

 

Page 65

are deemed to be Collateral (whether as a matter of applicable law or otherwise) then such
Credit-Linked Deposits or the applicable portion thereof, as the case may be, shall be deemed to
constitute TL Priority Collateral, rather than ABL Priority Collateral, for all purposes hereunder.

* * *

 

Page 66

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

	 	 	 	 	 
	Address:  	DHM HOLDING COMPANY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Address: 	DOLE HOLDING COMPANY, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Address: 	DOLE FOOD COMPANY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[to be updated]

 

Page 67

	 	 	 
	Address:

	 	DEUTSCHE BANK AG NEW YORK BRANCH,
 as ABL Collateral Agent

	60 Wall Street
	 	 
	New York, NY 10005
	 	 
	Attention: Marguerite Sutton
	 	 
	Telecopier: 212-797-4655
	 	 

	 	 	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

Page 68

	 	 	 
	Address:

	 	DEUTSCHE BANK AG NEW YORK BRANCH,
 as Term Collateral Agent

	60 Wall Street
	 	 
	New York, NY 10005
	 	 
	Attention: Margerite Sutton
	 	 
	Telecopier: 212-757-4655
	 	 

	 	 	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT A

to Intercreditor Agreement

FORM OF

INTERCREDITOR AGREEMENT JOINDER

          The undersigned,
                    
                    
                    , a
                    
                    , hereby agrees to become party as [a Grantor] [a ABL Collateral Agent] [a
Term Collateral Agent] under the Intercreditor Agreement dated as of April 12, 2006 (the
“Intercreditor Agreement”) among DHM HOLDING COMPANY, INC., a Delaware corporation, DOLE
HOLDING COMPANY, LLC, a Delaware limited liability company, DOLE FOOD COMPANY, INC., a Delaware
corporation (the “Company”), the other GRANTORS from time to time party thereto, DEUTSCHE
BANK AG NEW YORK BRANCH (“DBAG”), as ABL Collateral Agent, and DBAG, as Term Collateral
Agent, as amended, supplemented, amended and restated or otherwise modified and in effect from time
to time, for all purposes thereof on the terms set forth therein, and to be bound by the terms of
the Intercreditor Agreement as fully as if the undersigned had executed and delivered the
Intercreditor Agreement as of the date thereof.

          
The provisions of Article 6 of the Intercreditor Agreement will apply with like effect to this
Intercreditor Agreement Joinder.

          
IN WITNESS WHEREOF, the parties hereto have caused this Intercreditor Agreement Joinder to be
executed by their respective officers or representatives as of
                    
                    
                    , 20
     .

	 	 	 	 	 
	 	[	]	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w14

Exhibit 10.14

DOLE FOOD COMPANY, INC.

2009 STOCK INCENTIVE PLAN

1. Purpose

     The purpose of the Dole Food Company, Inc. 2009 Stock Incentive Plan is to advance the
interests of Dole Food Company, Inc. and its Affiliates by stimulating the efforts of employees,
officers, non-employee directors and other service providers, in each case who are selected to be
participants, by heightening the desire of such persons to continue working toward and contributing
to the success and progress of the Corporation. The Plan provides for the potential grant of
Incentive and Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock and
Restricted Stock Units, any of which may be performance-based, and for Incentive Bonuses, which may
be paid in cash or stock or a combination thereof, as determined by the Administrator.

2. Definitions

     As used in the Plan, the following terms shall have the meanings set forth below:

     (a) “Administrator” means the Administrator of the Plan in accordance with Section 18.

     (b) “Affiliate” shall have the meaning ascribed in Rule 12b-2 promulgated under the Exchange
Act.

     (c) “Associate” shall have the meaning ascribed in Rule 12b-2 promulgated under the Exchange
Act.

     (d) “Award” means an Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation
Right, Restricted Stock, Restricted Stock Unit or Incentive Bonus granted to a Participant pursuant
to the provisions of the Plan, any of which the Administrator may structure to qualify in whole or
in part as a Performance Award.

     (e) “Award Agreement” means a written agreement or other instrument as may be approved from
time to time by the Administrator implementing the grant of each Award. An Agreement may be in the
form of an agreement to be executed by both the Participant and the Corporation (or an authorized
representative of the Corporation) or certificates, notices or similar instruments as approved by
the Administrator.

     (f) “Beneficially Owned” shall have the meaning ascribed in Rule 13d-3 under the Exchange Act.

     (g) “Beneficiary” means the person, persons, trust or trusts entitled, by will, the laws of
descent and distribution or by designation on a beneficiary designation form adopted by the
Administrator for such purpose, to receive the benefits specified under this Plan in the event of a
Participant’s death.

 

 

     (h) “Board” means the Board of Directors of the Corporation.

     (i) “Cause” means (unless otherwise expressly provided in the Award Agreement or another
contract, including an employment agreement) Dole’s termination of the Participant’s employment
with Dole pursuant (except under clause (e), below, in which case Dole need not send a Notice of
Termination) to a Notice of Termination given within 120 days following Dole becoming aware of the
occurrence of any one or more of the following to the extent (in the case of clause (b) or (c) if
remediable) not remedied in a reasonable period of time after receipt by the Participant of written
notice from Dole specifying such occurrence:

     (1) The Participant is convicted of, or plead guilty or nolo contendere to, a felony;

     (2) The Participant commits an act of gross misconduct in connection with the
performance of the Participant’s duties;

     (3) The Participant demonstrates habitual negligence in the performance of the
Participant’s duties;

     (4) The Participant commits an act of fraud, misappropriation of funds or embezzlement
in connection with the Participant’s employment by Dole;

     (5) The Participant’s death; or

     (6) The Participant’s Disability.

Notwithstanding the foregoing, the Participant shall not be deemed to have been terminated by the
Corporation for Cause under clauses (2)—(4) or (6) until the later to occur of (i) the 30th day
after Notice of Termination is given and (ii) the delivery to the Participant of a certified copy
of a resolution duly adopted by the affirmative vote of not less than a majority of the total
number of directors at a meeting duly called and held (after reasonable notice to the Participant),
and at which the Participant, together with the Participant’s counsel, was given an opportunity to
be heard, finding that one or more of the events described in clauses (2)—(4) or (6) above
occurred, and specifying the particulars thereof in detail; provided, however, the Corporation may
suspend the Participant and withhold payment and/or suspend vesting in connection with any Award
from the date that Notice of Termination is given until the earliest to occur of (i) termination by
the Corporation for Cause effected in accordance with the foregoing procedures (in which case the
Participant shall not be entitled to such compensation or benefits for such period), (ii) a
determination by a majority of our directors that none of the events described in clauses (2)—(4)
or (6) above occurred (in which case the Participant shall be reinstated and shall receive any of
the Participant’s previously withheld and/or suspended compensation and benefits for such period),
or (iii) the 90th day after Notice of Termination is given (in which case the Participant shall be
reinstated and shall receive any of the Participant’s previously withheld and/or suspended
compensation and benefits for such period).

     (j) “Change of Control” (unless otherwise expressly provided in the Award Agreement or another
contract, including an employment agreement) shall be deemed to occur if

2

 

and as of the first day that any one or more of the following conditions are satisfied,
whether accomplished directly or indirectly, or in one or a series of related transactions:

     (1) any “Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
Act), other than (a) David H. Murdock or (b) following the death of David H. Murdock, the
trustee or trustees of a trust created by David H. Murdock, becomes the “Beneficial Owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Corporation representing 20% or more of the combined voting power of the Corporation’s
then outstanding securities;

     (2) individuals who, as of the Effective Date, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual who becomes a director subsequent to the Effective Date whose
election, or nomination for election by the Corporation’s stockholders, was approved by a
vote of at least two-thirds of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, unless the
individual’s initial assumption of office occurs as a result of either an actual or
threatened election contest or other actual or threatened tender offer, solicitation of
proxies or consents by or on behalf of a Person other than the Board;

     (3) a reorganization, merger, consolidation, recapitalization, tender offer, exchange
offer or other extraordinary transaction involving Dole (a “Fundamental Transaction”)
becomes effective or is consummated, unless: (i) more than 50% of the outstanding voting
securities of the surviving or resulting entity (including, without limitation, an entity
(“Parent”) which as a result of such transaction owns the Corporation or all or
substantially all of the Corporation’s assets either directly or through one or more
subsidiaries) (“Resulting Entity”) are, or are to be, Beneficially Owned, directly or
indirectly, by all or substantially all of the Persons who were the Beneficial Owners of the
outstanding voting securities of the Corporation immediately prior to such Fundamental
Transaction (excluding, for such purposes, any Person who is or, within two years prior to
the consummation date of such Fundamental Transaction, was, an Affiliate or Associate (other
than an Affiliate of Dole Food Company, Inc. immediately prior to such consummation date)
(as each of Affiliate and Associate are defined in Rule 12b-2 promulgated under the Exchange
Act) of a party to the Fundamental Transaction) in substantially the same proportions as
their Beneficial Ownership, immediately prior to such Fundamental Transaction, of the
outstanding voting securities of the Corporation and (ii) more than half of the members of
the board of directors or similar body of the Resulting Entity (or its parent) were members
of the Incumbent Board at the time of the execution of the initial agreement providing for
such Fundamental Transaction; or

     (4) A sale, transfer or any other disposition (including, without limitation, by way of
spin-off, distribution, complete liquidation or dissolution) of all or substantially all of
the Corporation’s business and/or assets (an “Asset Sale”) is consummated, unless,
immediately following such consummation, all of the requirements of clauses (3)(i) and
(3)(ii) of this definition of Change of Control are satisfied, both with respect to the

3

 

Corporation and with respect to the entity to which such business and/or assets have
been sold, transferred or otherwise disposed of or its parent (a “Transferee Entity”).

The consummation or effectiveness of a Fundamental Transaction or an Asset Sale shall be
deemed not to constitute a Change of Control if more than 50% of the outstanding voting
securities of the Resulting Entity or the Transferee Entity, as appropriate, are, or are to
be, Beneficially Owned by David H. Murdock. For the avoidance of doubt, the consummation of
the Initial Public Offering shall not be considered a Change of Control
or Fundamental Transaction for any purpose under this Plan or any Award.
If, in the Initial Public Offering, any Person (other than David H. Murdock) becomes the Beneficial
Owner, directly or indirectly, of securities of the Corporation representing 20% or more of the
combined voting power of the Corporation’s then outstanding securities, no Change of Control shall
be deemed to have then occurred, and no Change of Control shall be deemed to occur thereafter
solely as a result of such Person’s Beneficial Ownership of the Corporation’s securities unless and
until (if ever) such Person becomes the Beneficial Owner, directly or indirectly, of securities of
the Corporation representing at least 1% more of the combined voting power of the Corporation’s
then outstanding securities than the percentage of the Corporation’s outstanding securities
Beneficially Owned by such Person upon the consummation of the Initial Public Offering.

     (k) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the
rulings and regulations issues thereunder.

     (l) “Common Stock” means the Corporation’s common stock, par value $.___, subject to adjustment
as provided in Section 12.

     (m) “Corporation” means Dole Food Company, Inc., a Delaware corporation, and its successors.
For purposes of this definition of Corporation, after the consummation of a Fundamental Transaction
or an Asset Sale, the term “successor” shall include, without limitation, the Resulting Entity or
Transferee Entity, respectively.

     (n) “Dole” means the Corporation and/or its Subsidiaries.

     (o) “Disability” shall have the meaning ascribed to such term in the Participant’s governing
long-term disability plan, or if no such plan exists, shall mean a Participant’s absence from, or
inability to perform duties for, the Corporation on a full-time basis for 90 consecutive business
days or 120 business days in any period of 180 business days as a result of mental or physical
illness or injury that is total and permanent, as determined by a physician selected by the
Corporation or its insurers and acceptable to the Participant or the Participant’s legal
representative (such agreement as to acceptability not to be withheld unreasonably) and that is not
susceptible to reasonable accommodation.

     (p) “Effective Date” means the date the Plan becomes effective pursuant to Section 4.

     (q) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

     (r) “Fair Market Value” means, as of any given date, the closing sales price on such date
during normal trading hours (or, if there are no reported sales on such date, on the last date
prior to such date on which there were sales) of the Shares on the New York Stock Exchange
Composite Tape or, if not listed on such exchange, on any other national securities exchange on
which the Shares are listed or on NASDAQ, in any case, as reported in such source as the
Administrator shall select. If there is no regular public trading market for such Common Shares,
the Fair Market Value of the Shares shall be determined by the Administrator in good faith and in
compliance with Section 409A of the Code.

4

 

     (s) “Good Reason” means (unless otherwise expressly provided in the Award Agreement or another
contract, including an employment agreement) a Participant’s resignation of employment with Dole
within 120 days following the occurrence of one or more of the following to the extent not remedied
in a reasonable period of time after receipt by Dole of written notice from the Participant
specifying such occurrence, without the Participant’s express written consent:

     (1) Whether direct or indirect, a significant diminution of the Participant’s
authority, duties, responsibilities or status inconsistent with and below those held,
exercised and assigned in the ordinary course during the 90 day period immediately preceding
the Change of Control, excluding any such significant diminution that (i) begins prior, and
ends on or prior, to the date on which a Fundamental Transaction or Asset Sale becomes
effective or is consummated that constitutes a Change of Control, and (ii) results from the
affirmative and negative pre-closing operating covenants applicable to Dole contained in the
definitive transaction agreements providing for such Fundamental Transaction or Asset Sale;

     (2) The assignment to the Participant of duties that are inconsistent (in any
significant respect) with, or that impair (in any significant respect) the Participant’s
ability to perform, the duties customarily assigned to an individual holding the position
the Participant held immediately prior to the Change of Control in a corporation of the size
and nature of Dole, or, if the Participant was employed prior to termination by a Subsidiary
or business unit of the Corporation, in a subsidiary or business unit of the size and nature
of the Subsidiary or business unit of the Corporation in which the Participant was employed;

     (3) Relocation of the Participant’s primary office more than 35 miles from the
Participant’s current office at the time of the Change of Control;

     (4) Any material breach by the Corporation of any employment or other agreement between
the Corporation and the Participant;

     (5) Any reduction in the Participant’s base salary below the Participant’s base salary
in effect immediately prior to the Change of Control (or if the Participant’s base salary
was reduced within 180 days before the Change of Control, the base salary in effect
immediately prior to such reduction); or

     (6) Any non de minimis reduction in the Participant’s aggregate benefits and other
compensation (other than equity-based compensation) (“Benefits”), provided that a reduction
in the aggregate of not more than 5% in aggregate Benefits in connection with
across-the-board reductions or modifications affecting similarly situated persons of
comparable rank in Dole or a combined organization shall not constitute Good Reason.

     (t) “Incentive Bonus” means a bonus opportunity awarded under Section 9 pursuant to which a
Participant may become entitled to receive an amount based on satisfaction of such performance
criteria as are specified in the Award Agreement. Nothing herein shall be construed as creating
any limitations on Dole’s ability to adopt such other incentive arrangements as either

5

 

may deem desirable, including without limitation, annual and/or long-term cash-based incentive
compensation plans.

     (u) “Incentive Stock Option” means a stock option that is intended to qualify as an “incentive
stock option” within the meaning of Section 422 of the Code.

     (v) “Initial Public Offering” means the transactions leading up to, and including, the initial
sale by the Underwriters of the shares of the Common Stock pursuant to the Corporation’s
Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 14,
2009, as amended (the “Form S-1”). For purposes of this definition, the term “Underwriters” shall
have the meaning ascribed thereto in that certain Underwriting Agreement attached as Exhibit 1.1 to
the Form S-1, as amended.

     (w) “Nonemployee Director” means each person who is, or is elected to be, a member of the
Board and who is not an employee of the Corporation or any Subsidiary.

     (x) “Nonqualified Stock Option” means a stock option that is not intended to qualify as an
“incentive stock option” within the meaning of Section 422 of the Code.

     (y) “Notice of Termination” means a written notice which (1) indicates the specific
termination provision in the Plan relied upon, and (2) to the extent applicable, sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of the
Participant’s employment under the provision so indicated.

     (z) “Option” means an Incentive Stock Option and/or a Nonqualified Stock Option granted
pursuant to Section 6 of the Plan.

     (aa) “Participant” means any individual described in Section 3 to whom Awards have been granted
from time to time by the Administrator and any authorized transferee of such individual.

     (bb) “Performance Award” means an Award, the grant, issuance, retention, vesting or settlement
of which is subject to satisfaction of one or more performance criteria established pursuant to
Section 13.

     (cc) “Plan” means the Dole Food Company, Inc. 2009 Stock Incentive Plan as set forth herein
and as amended from time to time.

     (dd) “Restricted Stock” means Shares granted pursuant to Section 8 of the Plan.

     (ee) “Restricted Stock Unit” means an Award granted to a Participant pursuant to Section 8
pursuant to which Shares or cash in lieu thereof may be issued in the future.

     (ff) “Retirement” means retirement from active employment or service with Dole either (1) at
or after age 65 or (2) at or after age 55 with at least 5 years of full-time employment or service
with Dole.

     (gg) “Share” means a share of the Common Stock, subject to adjustment as provided in
Section 12.

     (hh) “Stock Appreciation Right” means a right granted pursuant to Section 7 of the Plan that
entitles the Participant to receive, in cash or Shares or a combination thereof, as determined by
the Administrator, value equal to or otherwise based on the excess of (i) the Fair Market Value of
a specified number of Shares at the time of exercise over (ii) the exercise price of the right, as
established by the Administrator on the date of grant.

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     (ii) “Subsidiary” means any corporation or other entity a majority or more of the outstanding
voting stock or voting power of which is beneficially owned directly or indirectly by the
Corporation, and if specifically determined by the Administrator in the context other than with
respect to Incentive Stock Options, may include an entity in which the Corporation has a
significant ownership interest or that is directly or indirectly controlled by the Corporation.

     (jj) “Termination of Employment” means ceasing to serve as an employee of the Corporation or
any Subsidiary or, with respect to a Nonemployee Director or other service provider, ceasing to
serve as such for the Corporation, except that with respect to all or any Awards held by a
Participant (i) the Administrator may determine, subject to Section 6(c), that an approved leave of
absence or approved employment on a less than full-time basis shall be considered a Termination of
Employment, (ii) the Administrator may determine that a transition of employment to service with a
partnership, joint venture or corporation not meeting the requirements of a Subsidiary in which the
Corporation or a Subsidiary is a party is not considered a Termination of Employment, (iii) service
as a member of the Board or other service provider shall constitute continued employment with
respect to Awards granted to a Participant while he or she served as an employee and (iv) service
as an employee of the Corporation or a Subsidiary shall constitute continued employment with
respect to Awards granted to a Participant while he or she served as a member of the Board or other
service provider. The Administrator shall determine whether any corporate transaction, such as a
sale or spin-off of a division or subsidiary that employs a Participant, shall be deemed to result
in a Termination of Employment with the Corporation or any Subsidiary for purposes of any affected
Participant’s Options, and the Administrator’s decision shall be final and binding.

3. Eligibility

     Any person who is a current or prospective officer or employee of the Corporation or of any
Subsidiary shall be eligible for selection by the Administrator for the grant of Awards hereunder.
In addition, Nonemployee Directors and any other service providers who have been retained to
provide consulting, advisory or other services to the Corporation or to any Subsidiary shall be
eligible for the grant of Awards hereunder as determined by the Administrator. Options intending
to qualify as Incentive Stock Options may only be granted to employees of the Corporation or any
corporate Subsidiary within the meaning of the Code, as selected by the Administrator.

4. Effective Date and Termination of Plan

     This Plan was adopted by the Board as of September ___, 2009 and approved by the Corporation’s
stockholders at a meeting of the Corporation’s stockholders or by written consent in accordance
with the laws of the State of Delaware as of September ___, 2009, and will become effective (the
“Effective Date”) one day prior to the consummation of the initial public offering of the Common
Stock of the Corporation being registered on Form S-1 registration statement no. 333-161345. The
Plan shall remain available for the grant of Awards until the tenth (10th) anniversary of the
Effective Date. Notwithstanding the foregoing, the Plan may be terminated at such earlier time as
the Board may determine. Termination of the Plan will not affect the rights and obligations of the
Participants and the Corporation arising under Awards theretofore granted and then in effect.

7

 

5. Shares Subject to the Plan and to Awards

     (a) Aggregate Limits. The aggregate number of Shares issuable pursuant to all Awards shall
not exceed                     . The aggregate number of Shares that may be issued pursuant to the
exercise of Incentive Stock Options granted under this Plan shall not exceed                     , which
number shall be calculated and adjusted pursuant to Section 12 only to the extent that such
calculation or adjustment will not affect the status of any option intended to qualify as an
Incentive Stock Option under Section 422 of the Code.

     (b) Adjustment. The aggregate number of Shares available for grant under this Plan and the
number of Shares subject to outstanding Awards shall be subject to adjustment as provided in
Section 12. The Shares issued pursuant to Awards granted under this Plan may be shares that are
authorized and unissued or shares that were reacquired by the Corporation, including shares
purchased in the open market.

     (c) Issuance of Shares. For purposes of Section 5(a), the aggregate number of Shares issued
under this Plan at any time shall equal only the number of Shares actually issued upon exercise or
settlement of an Award. The aggregate number of Shares available for Awards under this Plan at any
time shall not be reduced by (i) Shares subject to Awards that have been terminated, expired
unexercised, forfeited or settled in cash, (ii) Shares subject to Awards that have been retained or
withheld by the Corporation in payment or satisfaction of the exercise price, purchase price or tax
withholding obligation of an Award, or (iii) Shares subject to Awards that otherwise do not result
in the issuance of Shares in connection with payment or settlement thereof. In addition, Shares
that have been delivered (either actually or by attestation) to the Corporation in payment or
satisfaction of the exercise price, purchase price or tax withholding obligation of an Award shall
be available for Awards under this Plan.

6. Options

     (a) Option Awards. Options may be granted at any time and from time to time prior to the
termination of the Plan to Participants as determined by the Administrator. No Participant shall
have any rights as a stockholder with respect to any Shares subject to an Option hereunder until
said Shares have been issued. Each Option shall be evidenced by an Award Agreement. Options
granted pursuant to the Plan need not be identical but each Option must contain and be subject to
the terms and conditions set forth below.

     (b) Price. The Administrator will establish the exercise price per Share under each Option,
which, in no event will be less than the Fair Market Value of the Shares on the date of grant;
provided, however, that the exercise price per Share with respect to an Option that is granted in
connection with a merger or other acquisition as a substitute or replacement award for options held
by optionees of the acquired entity may be less than 100% of the Fair Market Value of the Shares on
the date such Option is granted if such exercise price is based on a formula set forth in the terms
of the options held by such optionees or in the terms of the agreement providing for such merger or
other acquisition. The exercise price of any Option may be paid in Shares, cash or a combination
thereof, as determined by the Administrator, including an irrevocable commitment by a broker to pay
over such amount from a sale of the Shares issuable

8

 

under an Option, the delivery of previously owned Shares and withholding of Shares deliverable
upon exercise.

     (c) Provisions Applicable to Options. The date on which Options become exercisable shall be
determined at the sole discretion of the Administrator and set forth in an Award Agreement. Unless
provided otherwise in the applicable Award Agreement, to the extent that the Administrator
determines that an approved leave of absence is not a Termination of Employment, the vesting period
and/or exercisability of an Option may be adjusted by the Administrator during or to reflect the
effects of any period during which the Participant is on an approved leave of absence or is
employed on a less than full-time basis. The Administrator shall establish the term of each
Option, which in no case shall exceed a period of ten (10) years from the date of grant.

     (d) Incentive Stock Options. Notwithstanding anything to the contrary in this Section 6, in
the case of the grant of an Option intending to qualify as an Incentive Stock Option: (i) if the
Participant owns stock possessing more than 10% of the combined voting power of all classes of
stock of the Corporation (a “10% Stockholder”), the exercise price of such Option must be at least
110% of the Fair Market Value of the Shares on the date of grant and the Option must expire within
a period of not more than five (5) years from the date of grant, and (ii) Termination of Employment
will occur when the person to whom an Award was granted ceases to be an employee (as determined in
accordance with Section 3401(c) of the Code and the regulations promulgated thereunder) of the
Corporation or any Subsidiary. Notwithstanding anything in this Section 6 to the contrary, options
designated as Incentive Stock Options shall not be eligible for treatment under the Code as
Incentive Stock Options (and will be deemed to be Nonqualified Stock Options) to the extent that
either (1) the aggregate Fair Market Value of Shares (determined as of the time of grant) with
respect to which such Options are exercisable for the first time by the Participant during any
calendar year (under all plans of the Corporation and any Subsidiary) exceeds $100,000, taking
Options into account in the order in which they were granted, or (2) such Options otherwise remain
exercisable but are not exercised within three (3) months of Termination of Employment (or such
other period of time provided in Section 422 of the Code). If the requirements for an Option to
qualify for incentive stock option tax treatment are changed, this Section 6(d) shall be deemed to
be automatically amended to reflect such requirements.

     (e) Effect of Termination of Employment. Unless an Option earlier expires upon the expiration
date established pursuant to Section 6(c), upon a Termination of Employment (i) any portion of the
Option that is not exercisable at the time of such Termination of Employment shall be forfeited and
canceled as of the date of such Termination of Employment and (ii) a Participant’s (or his or her
Beneficiary’s) rights to exercise any portion of the Option that is exercisable at the time of such
Termination of Employment shall be only as follows, in each case, unless otherwise expressly
provided in the Award Agreement or another contract, including an employment agreement:

     (1) Death. If a Participant incurs a Termination of Employment by reason of death, any
Option held by such Participant, to the extent then exercisable, may thereafter be exercised
by the Participant’s Beneficiary for a period of twelve months from the date

9

 

of such death or until the expiration of the stated term of such Option, whichever
period is the shorter.

     (2) Retirement, Disability. If a Participant incurs a Termination of Employment by
reason of Retirement or Disability, any Option held by such Participant, to the extent then
exercisable, may thereafter be exercised by the Participant for a period of twelve months
from the date of such Termination of Employment or until the expiration of the stated term
of such Option, whichever period is the shorter.

     (3) Cause. If a Participant incurs a Termination of Employment by reason of a
termination by the Company for Cause, the entire Option, whether or not then exercisable,
shall be immediately forfeited and canceled as of the date of such Termination of
Employment.

     (4) Termination for Reasons other than Death, Retirement, Disability or Cause. If a
Participant incurs a Termination of Employment for any reason other than death, Retirement,
Disability or for Cause, any Option held by such Participant, to the extent then
exercisable, may thereafter be exercised by the Participant for a period of three months
from the date of such Termination of Employment or until the expiration of the stated term
of such Option, whichever period is the shorter.

7. Stock Appreciation Rights

     Stock Appreciation Rights may be granted to Participants from time to time either in tandem
with or as a component of other Awards granted under the Plan (“tandem SARs”) or not in conjunction
with other Awards (“freestanding SARs”) and may, but need not, relate to a specific Option granted
under Section 6. The provisions of Stock Appreciation Rights need not be the same with respect to
each grant or each recipient. Any Stock Appreciation Right granted in tandem with an Award may be
granted at the same time such Award is granted or at any time thereafter before exercise or
expiration of such Award. All freestanding SARs shall be granted subject to the same terms and
conditions applicable to Options as set forth in Section 6 and all tandem SARs shall have the same
exercise price, vesting, exercisability, forfeiture and termination provisions as the Award to
which they relate. Subject to the provisions of Section 6 and the immediately preceding sentence,
the Administrator may impose such other conditions or restrictions on any Stock Appreciation Right
as it shall deem appropriate. Stock Appreciation Rights may be settled in Shares, cash or a
combination thereof, as determined by the Administrator and set forth in the applicable Award
Agreement.

8. Restricted Stock and Restricted Stock Units

     (a) Restricted Stock and Restricted Stock Unit Awards. Restricted Stock and Restricted Stock
Units may be granted at any time and from time to time prior to the termination of the Plan to
Participants as determined by the Administrator. Restricted Stock is an award or issuance of
Shares the grant, issuance, retention, vesting and/or transferability of which is subject during
specified periods of time to such conditions (including continued employment or performance
conditions) and terms as the Administrator deems appropriate. Restricted Stock Units are Awards
denominated in units of Shares under which the issuance of Shares is subject to

10

 

such conditions (including continued employment or performance conditions) and terms as the
Administrator deems appropriate. Each grant of Restricted Stock and Restricted Stock Units shall
be evidenced by an Award Agreement. Unless determined otherwise by the Administrator, each
Restricted Stock Unit will be equal to one Share and will entitle a Participant to either the
issuance of Shares or payment of an amount of cash determined with reference to the value of
Shares. To the extent determined by the Administrator, Restricted Stock and Restricted Stock Units
may be satisfied or settled in Shares, cash or a combination thereof. Restricted Stock and
Restricted Stock Units granted pursuant to the Plan need not be identical but each grant of
Restricted Stock and Restricted Stock Units must contain and be subject to the terms and conditions
set forth below.

     (b) Contents of Agreement. Each Award Agreement shall contain provisions regarding (i) the
number of Shares or Restricted Stock Units subject to such Award or a formula for determining such
number, (ii) the purchase price of the Shares, if any, and the means of payment, (iii) the
performance criteria, if any, and level of achievement versus these criteria that shall determine
the number of Shares or Restricted Stock Units granted, issued, retainable and/or vested, (iv) such
terms and conditions on the grant, issuance, vesting and/or forfeiture of the Shares or Restricted
Stock Units as may be determined from time to time by the Administrator, (v) the term of the
performance period, if any, as to which performance will be measured for determining the number of
such Shares or Restricted Stock Units, and (vi) restrictions on the transferability of the Shares
or Restricted Stock Units. Shares issued under a Restricted Stock Award may be issued in the name
of the Participant and held by the Participant or held by the Corporation, in each case as the
Administrator may provide.

     (c) Vesting and Performance Criteria. The grant, issuance, retention, vesting and/or
settlement of shares of Restricted Stock and Restricted Stock Units will occur when and in such
installments as the Administrator determines or under criteria the Administrator establishes, which
may include performance criteria.

     (d) Discretionary Adjustments and Limits. Subject to the limits imposed under Section 162(m)
of the Code for Awards that are intended to qualify as “performance-based compensation,”
notwithstanding the satisfaction of any performance goals, the number of Shares granted, issued,
retainable and/or vested under an Award of Restricted Stock or Restricted Stock Units on account of
either financial performance or personal performance evaluations may, to the extent specified in
the Award Agreement, be reduced, but not increased, by the Administrator on the basis of such
further considerations as the Administrator shall determine.

     (e) Voting Rights. Unless otherwise determined by the Administrator, Participants holding
shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those
shares during the period of restriction. Participants shall have no voting rights with respect to
Shares underlying Restricted Stock Units unless and until such Shares are reflected as issued and
outstanding shares on the Corporation’s stock ledger.

     (f) Dividends and Distributions. Participants in whose name Restricted Stock is granted shall
be entitled to receive all dividends and other distributions paid with respect to those Shares,
unless determined otherwise by the Administrator. The Administrator will determine whether any
such dividends or distributions will be automatically reinvested in additional shares

11

 

of Restricted Stock and subject to the same restrictions on transferability as the Restricted
Stock with respect to which they were distributed or whether such dividends or distributions will
be paid in cash. Shares underlying Restricted Stock Units shall be entitled to dividends or
dividend equivalents only to the extent provided by the Administrator.

     (g) Effect of Termination of Employment. Upon a Participant’s Termination of Employment for
any reason (including by reason of death, Retirement or Disability), any then unvested Restricted
Stock or Restricted Stock Units held by the Participant shall be forfeited and canceled as of the
date of such Termination of Employment, unless otherwise expressly provided in the Award Agreement
or another contract, including an employment agreement.

9. Incentive Bonuses

     (a) General. Each Incentive Bonus Award will confer upon the Participant the opportunity to
earn a future payment tied to the level of achievement with respect to one or more performance
criteria established for a performance period established by the Administrator.

     (b) Incentive Bonus Document. The terms of any Incentive Bonus will be set forth in an Award
Agreement. Each Award Agreement evidencing an Incentive Bonus shall contain provisions regarding
(i) the target and maximum amount payable to the Participant as an Incentive Bonus, (ii) the
performance criteria and level of achievement versus these criteria that shall determine the amount
of such payment, (iii) the term of the performance period as to which performance shall be measured
for determining the amount of any payment, (iv) the timing of any payment earned by virtue of
performance, (v) restrictions on the alienation or transfer of the Incentive Bonus prior to actual
payment, (vi) forfeiture provisions and (vii) such further terms and conditions, in each case not
inconsistent with this Plan as may be determined from time to time by the Administrator.

     (c) Performance Criteria. The Administrator shall establish the performance criteria and
level of achievement versus these criteria that shall determine the target and maximum amount
payable under an Incentive Bonus, which criteria may be based on financial performance and/or
personal performance evaluations. The Administrator may specify the percentage of the target
Incentive Bonus that is intended to satisfy the requirements for “performance-based compensation”
under Section 162(m) of the Code.

     (d) Timing and Form of Payment. The Administrator shall determine the timing of payment of
any Incentive Bonus. Payment of the amount due under an Incentive Bonus may be made in cash or in
Shares, as determined by the Administrator. The Administrator may provide for or, subject to such
terms and conditions as the Administrator may specify, may permit a Participant to elect for the
payment of any Incentive Bonus to be deferred to a specified date or event.

     (e) Discretionary Adjustments. Notwithstanding satisfaction of any performance goals, the
amount paid under an Incentive Bonus on account of either financial performance or personal
performance evaluations may, to the extent specified in the Award Agreement, be reduced, but not
increased, by the Administrator on the basis of such further considerations as the Administrator
shall determine.

12

 

     (f) Subplans. Incentive Bonuses payable hereunder may be pursuant to one or more subplans.

     (g) Effect of Termination of Employment. Upon a Participant’s Termination of Employment for
any reason (including by reason of death, Retirement or Disability), the Participant shall receive
payment in respect of any Incentive Bonuses only to the extent specified by the Administrator,
unless otherwise expressly provided in the Award Agreement or another contract, including an
employment agreement. Payments in respect of any such Incentive Bonuses shall be made at the time
specified by the Administrator and set forth in the Award Agreement.

10. Deferral of Gains

     The Administrator may, in an Award Agreement or otherwise, provide for the deferred delivery
of Shares upon settlement, vesting or other events with respect to Restricted Stock or Restricted
Stock Units, or in payment or satisfaction of an Incentive Bonus. Notwithstanding anything herein
to the contrary, in no event will any deferral of the delivery of Shares or any other payment with
respect to any Award be allowed if the Administrator determines, in its sole discretion, that the
deferral would result in the imposition of the additional tax under Section 409A(a)(1)(B) of the
Code. No award shall provide for deferral of compensation that does not comply with Section 409A
of the Code, unless the Board, at the time of grant, specifically provides that the Award is not
intended to comply with Section 409A of the Code. The Corporation shall have no liability to a
Participant, or any other party, if an Award that is intended to be exempt from, or compliant with,
Section 409A of the Code is not so exempt or compliant or for any action taken by the Board.

11. Conditions and Restrictions Upon Securities Subject to Awards

     The Administrator may provide that the Shares issued upon exercise of an Option or Stock
Appreciation Right or otherwise subject to or issued under an Award shall be subject to such
further agreements, restrictions, conditions or limitations as the Administrator in its discretion
may specify prior to the exercise of such Option or Stock Appreciation Right or the grant, vesting
or settlement of such Award, including without limitation, conditions on vesting or
transferability, forfeiture or repurchase provisions and method of payment for the Shares issued
upon exercise, vesting or settlement of such Award (including the actual or constructive surrender
of Shares already owned by the Participant) or payment of taxes arising in connection with an
Award. Without limiting the foregoing, such restrictions may address the timing and manner of any
resales by the Participant or other subsequent transfers by the Participant of any Shares issued
under an Award, including without limitation (i) restrictions under an insider trading policy or
pursuant to applicable law, (ii) restrictions designed to delay and/or coordinate the timing and
manner of sales by Participant and holders of other Corporation equity compensation arrangements,
(iii) restrictions as to the use of a specified brokerage firm for such resales or other transfers
and (iv) provisions requiring Shares to be sold on the open market or to the Corporation in order
to satisfy tax withholding or other obligations.

13

 

12. Adjustment of and Changes in the Stock; Certain Transactions; Change of Control

     (a) In the event that any dividend or other distribution (whether in the form of cash, Shares,
other securities or other property, but excluding regular, quarterly and other periodic cash
dividends), stock split or a combination or consolidation of the outstanding Shares into a lesser
number of shares, is declared with respect to the Shares, the authorization limits under
Sections 5(a) and 5(c) shall be increased or decreased proportionately, and the Shares then subject
to each Award shall be increased or decreased proportionately without any change in the aggregate
purchase price therefore. In the event the Shares shall be changed into or exchanged for a
different number or class of shares of stock or securities of the Corporation or of another
corporation, whether through recapitalization, reorganization, reclassification, merger,
consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other
securities of the Corporation, issuance of warrants or other rights to purchase Shares or other
securities of the Corporation, or any other similar corporate transaction or event affects the
Shares such that an equitable adjustment would be required in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be made available under the Plan,
then the authorization limits under Sections 5(a) and 5(c) shall be adjusted proportionately, and
an equitable adjustment shall be made to each Share subject to an Award such that no dilution or
enlargement of the benefits or potential benefits occurs. Each such Share then subject to each
Award shall be adjusted to the number and class of shares into which each outstanding Share shall
be so exchanged such that no dilution or enlargement of the benefits occurs, all without change in
the aggregate purchase price for the Shares then subject to each Award. Action by the
Administrator pursuant to this Section 12(a) may include adjustment to any or all of: (i) the
number and type of Shares (or other securities or other property) that thereafter may be made the
subject of Awards or be delivered under the Plan; (ii) the number and type of Shares (or other
securities or other property) subject to outstanding Awards; (iii) the purchase price or exercise
price of a Share under any outstanding Award or the measure to be used to determine the amount of
the benefit payable on an Award; and (iv) any other adjustments the Administrator determines to be
equitable. No right to purchase fractional shares shall result from any adjustment in Awards
pursuant to this Section 12. In case of any such adjustment, the Shares subject to the Award shall
be rounded down to the nearest whole share. The Corporation shall notify Participants holding
Awards subject to any adjustments pursuant to this Section 12(a) of such adjustment, but (whether
or not notice is given) such adjustment shall be effective and binding for all purposes of the
Plan.

     (b) Unless otherwise expressly provided in the Award Agreement or another contract, including
an employment agreement, in the case of an Award that the acquiring or surviving company in the
transaction assumes upon and maintains immediately following the Change of Control (which Award
shall be adjusted as to the number and kind of shares as may be determined appropriate by the
Administrator prior to the Change in Control), if the Participant incurs a Termination of
Employment by the Corporation (or the acquiring or surviving company, as applicable) without Cause
or by the Participant for Good Reason within twenty four months following the Change of Control,
then the Awards held by the Participant at the time of such Termination of Employment shall be
treated as follows: (i) in the case of an Option or Stock Appreciation Right, the Award shall
become fully vested and the Participant shall have the ability to exercise such Option or Stock
Appreciation Right, including any portion of the Option or Stock Appreciation Right not previously
exercisable, (ii) in the case of an Incentive Bonus,

14

 

the Participant shall have the right to receive a payment equal to the target amount payable
or, if greater, a payment based on actual performance through a date determined by the
Administrator, and (iii) in the case of Restricted Stock or Restricted Stock Units, the Award shall
become fully vested and shall be settled in full.

     (c) Unless otherwise expressly provided in the Award Agreement or another contract, including
an employment agreement, in the event of a Change of Control in which the acquiring or surviving
company in the transaction does not assume or continue outstanding Awards in connection with the
Change of Control, all Awards that are not assumed or continued shall be treated as follows
effective immediately prior to the Change of Control: (i) in the case of an Option or Stock
Appreciation Right, the Award shall become fully vested and the Participant shall have the ability
to exercise such Option or Stock Appreciation Right, including any portion of the Option or Stock
Appreciation Right not previously exercisable, (ii) in the case of an Incentive Bonus, the
Participant shall have the right to receive a payment equal to the target amount payable or, if
greater, a payment based on actual performance through a date determined by the Administrator, and
(iii) in the case of Restricted Stock or Restricted Stock Units, the Award shall become fully
vested and shall be settled in full.

     (d) In addition to the above, in connection with a Change of Control the Administrator may
provide for the conversion of any outstanding Award, or portion thereof, into a right to receive
cash or other property upon or following the consummation of the Change of Control in an amount
equal to the value of the consideration to be received by holders of Common Stock in connection
with such transaction for one Share, less the per share purchase or exercise price of such Award,
if any, multiplied by the number of Shares subject to such Award, or a portion thereof.

13. Performance-Based Compensation

     The Administrator may establish performance criteria and level of achievement versus such
criteria that shall determine the number of Shares to be granted, retained, vested, issued or
issuable under or in settlement of or the amount payable pursuant to an Award. Notwithstanding
satisfaction of any performance goals, the number of Shares issued under or the amount paid under
an award may, to the extent specified in the Award Agreement, be reduced, but not increased, by the
Administrator on the basis of such further considerations as the Administrator in its sole
discretion shall determine.

14. Transferability

     No Award may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated
by a Participant other than by will or the laws of descent and distribution, and, during his or her
lifetime, each Option or Stock Appreciation Right shall be exercisable only by the Participant;
provided that the designation of a Beneficiary shall not constitute a sale, transfer, pledge,
assignment, alienation or hypothecation of an Award. Notwithstanding the foregoing, to the extent
permitted by the Administrator, the person to whom an Award is initially granted (the “Grantee”)
may transfer an Award to any “family member” of the Grantee (as such term is defined in
Section 1(a)(5) of the General Instructions to Form S-8 under the Securities Act of 1933, as
amended (“Form S-8”)), to trusts solely for the benefit of such family members and to

15

 

partnerships in which such family members and/or trusts are the only partners; provided that,
(i) as a condition thereof, the transferor and the transferee must execute a written agreement
containing such terms as specified by the Administrator, and (ii) the transfer is pursuant to a
gift or a domestic relations order to the extent permitted under the General Instructions to Form
S-8. Except to the extent specified otherwise in the agreement the Administrator provides for the
Grantee and transferee to execute, all vesting, exercisability and forfeiture provisions that are
conditioned on the Grantee’s continued employment, performance or service shall continue to be
determined with reference to the Grantee’s employment, performance or service (and not to the
status of the transferee) after any transfer of an Award pursuant to this Section 14, and the
responsibility to pay any taxes in connection with an Award shall remain with the Grantee
notwithstanding any transfer other than by will or intestate succession. Any attempted sale,
transfer, pledge, assignment, alienation or hypothecation of an Award by a Participant in violation
of this Section 14 shall result in forfeiture of such Award.

15. Suspension or Termination of Awards

     Except as otherwise provided by the Administrator, if at any time (including after a notice of
exercise has been delivered or an award has vested) the Chief Executive Officer or any other person
designated by the Administrator (each such person, an “Authorized Officer”) reasonably believes
that a Participant may have committed any act constituting Cause for termination of employment, or
a violation of any non-competition covenant, the Authorized Officer, Administrator or the Board may
suspend the Participant’s rights to exercise any Option, to vest in an Award, and/or to receive
payment for or receive Shares in settlement of an Award pending a determination of whether such an
act has been committed.

     If the Administrator or an Authorized Officer determines a Participant has committed any act
constituting Cause for termination of employment or a violation of any non-competition covenant,
then except as otherwise provided by the Administrator, (a) neither the Participant nor his or her
estate nor transferee shall be entitled to exercise any Option or Stock Appreciation Right
whatsoever, vest in or have the restrictions on an Award lapse, or otherwise receive payment of an
Award, (b) the Participant will forfeit all outstanding Awards and (c) the Participant may be
required, at the Administrator’s sole discretion, to return and/or repay to the Corporation any
then unvested Shares previously issued under the Plan. In making such determination, the
Administrator or an Authorized Officer shall give the Participant an opportunity to appear and
present evidence on his or her behalf at a hearing before the Administrator or its designee or an
opportunity to submit written comments, documents, information and arguments to be considered by
the Administrator.

16. Compliance with Laws and Regulations

     This Plan, the grant, issuance, vesting, exercise and settlement of Awards thereunder, and the
obligation of the Corporation to sell, issue or deliver Shares under such Awards, shall be subject
to all applicable foreign, federal, state and local laws, rules and regulations, stock exchange
rules and regulations, and to such approvals by any governmental or regulatory agency as may be
required. The Corporation shall not be required to register in a Participant’s name or deliver any
Shares prior to the completion of any registration or qualification of such shares under any
foreign, federal, state or local law or any ruling or regulation of any government body

16

 

which the Administrator shall determine to be necessary or advisable. To the extent the
Corporation is unable to or the Administrator deems it infeasible to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Corporation’s counsel to be
necessary to the lawful issuance and sale of any Shares hereunder, the Corporation and its
Subsidiaries shall be relieved of any liability with respect to the failure to issue or sell such
Shares as to which such requisite authority shall not have been obtained. No Option shall be
exercisable and no Shares shall be issued and/or transferable under any other Award unless a
registration statement with respect to the Shares underlying such Award is effective and current or
the Corporation has determined that such registration is unnecessary.

     In the event an Award is granted to or held by a Participant who is employed or providing
services outside the United States, the Administrator may, in its sole discretion, modify the
provisions of the Plan or of such Award as they pertain to such individual to comply with
applicable foreign law or to recognize differences in local law, currency or tax policy. The
Administrator may also impose conditions on the grant, issuance, exercise, vesting, settlement or
retention of Awards in order to comply with such foreign law and/or to minimize the Corporation’s
obligations with respect to tax equalization for Participants employed outside their home country.

17. Withholding

     To the extent required by applicable federal, state, local or foreign law, a Participant shall
be required to satisfy, in a manner satisfactory to the Corporation, any withholding tax
obligations that arise by reason of an Option exercise, disposition of Shares issued under an
Incentive Stock Option, the vesting of or settlement of an Award, an election pursuant to
Section 83(b) of the Code or otherwise with respect to an Award. To the extent a Participant makes
an election under Section 83(b) of the Code, within ten (10) days of filing such election with the
Internal Revenue Service, the Participant must notify the Corporation in writing of such election.
The Corporation and its Subsidiaries shall not be required to issue Shares, make any payment or to
recognize the transfer or disposition of Shares until all such obligations are satisfied. The
Administrator may provide for or permit these obligations to be satisfied through the mandatory or
elective sale of Shares and/or by having the Corporation withhold a portion of the Shares that
otherwise would be issued to him or her upon exercise of the Option or the vesting or settlement of
an Award, or by tendering Shares previously acquired.

18. Administration of the Plan

     (a) Administrator of the Plan. The Plan shall be administered by the Administrator who shall
be the Compensation & Benefits Committee of the Board or, in the absence of a Compensation &
Benefits Committee, the Board itself. Any power of the Administrator may also be exercised by the
Board, except to the extent that the grant or exercise of such authority would cause any Award or
transaction to become subject to (or lose an exemption under) the short-swing profit recovery
provisions of Section 16 of the Securities Exchange Act of 1934 or cause an Award designated as a
Performance Award not to qualify for treatment as performance-based compensation under
Section 162(m) of the Code. To the extent that any permitted action taken by the Board conflicts
with action taken by the Administrator, the Board action shall control. The Compensation &
Benefits Committee may by resolution authorize one or more

17

 

officers of the Corporation to perform any or all things that the Administrator is authorized
and empowered to do or perform under the Plan, and for all purposes under this Plan, such officer
or officers shall be treated as the Administrator; provided, however, that the resolution so
authorizing such officer or officers shall specify the total number of Awards (if any) such officer
or officers may award pursuant to such delegated authority, and any such Award shall be subject to
the form of Award Agreement theretofore approved by the Compensation & Benefits Committee. No such
officer shall designate himself or herself as a recipient of any Awards granted under authority
delegated to such officer. The Compensation & Benefits Committee hereby designates the Secretary
of the Corporation and the head of the Corporation’s human resource function to assist the
Administrator in the administration of the Plan and execute agreements evidencing Awards made under
this Plan or other documents entered into under this Plan on behalf of the Administrator or the
Corporation. In addition, the Compensation & Benefits Committee may delegate any or all aspects of
the day-to-day administration of the Plan to one or more officers or employees of the Corporation
or any Subsidiary, and/or to one or more agents.

     (b) Powers of Administrator. Subject to the express provisions of this Plan, the
Administrator shall be authorized and empowered to do all things that it determines to be necessary
or appropriate in connection with the administration of this Plan, including, without limitation:
(i) to prescribe, amend and rescind rules and regulations relating to this Plan and to define terms
not otherwise defined herein; (ii) to determine which persons are Participants, to which of such
Participants, if any, Awards shall be granted hereunder and the timing of any such Awards; (iii) to
grant Awards to Participants and determine the terms and conditions thereof, including the number
of Shares subject to Awards and the exercise or purchase price of such Shares and the circumstances
under which Awards become exercisable or vested or are forfeited or expire, which terms may but
need not be conditioned upon the passage of time, continued employment, the satisfaction of
performance criteria, the occurrence of certain events (including a Change of Control), or other
factors; (iv) to establish and verify the extent of satisfaction of any performance goals or other
conditions applicable to the grant, issuance, exercisability, vesting and/or ability to retain any
Award; (v) to prescribe and amend the terms of the agreements or other documents evidencing Awards
made under this Plan (which need not be identical) and the terms of or form of any document or
notice required to be delivered to the Corporation by Participants under this Plan; (vi) to
determine the extent to which adjustments are required pursuant to Section 12; (vii) to interpret
and construe this Plan, any rules and regulations under this Plan and the terms and conditions of
any Award granted hereunder, and to make exceptions to any such provisions if the Administrator, in
good faith, determines that it is necessary to do so in light of extraordinary circumstances and
for the benefit of the Corporation; (viii) to approve corrections in the documentation or
administration of any Award; (ix) to reduce the exercise price of any Option or Stock Appreciation
Right to the Fair Market Value of the Shares at the time of the reduction if the Fair Market Value
of the Shares covered by that Option or Stock Appreciation Right has declined since the date it was
granted, either directly or through cancellation and regrant of the Option or Stock Appreciation
Right; (x) to exchange Options and Stock Appreciation Rights for other Awards; (xi) to cause the
Corporation to purchase outstanding Options and Stock Appreciation Rights for cash or other
consideration; (xii) to require or permit Participant elections and/or consents under this Plan to
be made by means of such electronic media as the Administrator may prescribe; and (xiii) to make
all other determinations deemed necessary or advisable for the administration of this Plan. The

18

 

Administrator may, in its sole and absolute discretion, without amendment to the Plan, waive
or amend the operation of Plan provisions respecting exercise after termination of employment or
service to the Corporation or an Affiliate and, except as otherwise provided herein, adjust any of
the terms of any Award. The Administrator may also (A) accelerate the date on which any Award
granted under the Plan becomes exercisable or (B) accelerate the vesting date or waive or adjust
any condition imposed hereunder with respect to the vesting or exercisability of an Award, provided
that the Administrator, in good faith, determines that such acceleration, waiver or other
adjustment is necessary or desirable in light of extraordinary circumstances.

     (c) Determinations by the Administrator. All decisions, determinations and interpretations by
the Administrator regarding the Plan, any rules and regulations under the Plan and the terms and
conditions of or operation of any Award granted hereunder, shall be final and binding on all
Participants, beneficiaries, heirs, assigns or other persons holding or claiming rights under the
Plan or any Award. The Administrator shall consider such factors as it deems relevant, in its sole
and absolute discretion, to making such decisions, determinations and interpretations including,
without limitation, the recommendations or advice of any officer or other employee of the
Corporation and such attorneys, consultants and accountants as it may select.

     (d) Subsidiary Awards. In the case of a grant of an Award to any Participant employed by a
Subsidiary, such grant may, if the Administrator so directs, be implemented by the Corporation
issuing any subject Shares to the Subsidiary, for such lawful consideration as the Administrator
may determine, upon the condition or understanding that the Subsidiary will transfer the Shares to
the Participant in accordance with the terms of the Award specified by the Administrator pursuant
to the provisions of the Plan. Notwithstanding any other provision hereof, such Award may be
issued by and in the name of the Subsidiary and shall be deemed granted on such date as the
Administrator shall determine.

19. Amendment of the Plan or Awards

     The Board may amend, alter or discontinue this Plan and the Administrator may amend or alter
any agreement or other document evidencing an Award made under this Plan but, except as provided
pursuant to the provisions of Section 12, no such amendment shall, without the approval of the
stockholders of the Corporation:

     (a) increase the maximum number of Shares for which Awards may be granted under this Plan;

     (b) reduce the price at which Options may be granted below the price provided for in
Section 6(b);

     (c) change the class of persons eligible to be Participants; or

     (d) otherwise amend the Plan in any manner requiring stockholder approval by law or under
stock exchange listing requirements.

     No amendment or alteration to the Plan or an Award or Award Agreement shall be made which
would impair the rights of the holder of an Award, without such holder’s consent,

19

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