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ex_4-1.htm

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

              

                  EXHIBIT
            4.1      
    

      

    

    
      

       

      $115,000,000
        Multicurrency Revolving Credit Facility

       

      $605,100,000
        Dollar Term Loan Facility

       

      €335,000,000
        Euro Term Loan Facility

       

      £50,000,000
        GBP Term Loan Facility

       

      

    

    CREDIT
      AGREEMENT

     

    dated
      as of April 18, 2007,

     

    among

     

    ITRON,
      INC.,

     

    as
      Borrower,

     

    and

     

    THE
      SUBSIDIARY GUARANTORS PARTY HERETO,

     

    as
      Subsidiary Guarantors,

     

    THE
      LENDERS PARTY HERETO

     

    and

     

    UBS
      SECURITIES LLC,

     

    as
      Arranger, Bookrunner and Syndication Agent,

     

    and

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

     

    as
      an Issuing Bank and as Swingline Lender, Administrative Agent and Collateral
      Agent,

     

    and

     

    MIZUHO
      CORPORATE BANK, LTD.,

     

    as
      an Issuing Bank and as Documentation Agent

     

    
      

       

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    
      	
              TABLE
                OF CONTENTS  

            
	
               

            	 	 
              
              Page

            
	
              ARTICLE
                I  

            
	 	 	 
	
              DEFINITIONS  

            
	
              Section
                1.01

            	
              Defined
                Terms

            	
              2

            
	
              Section
                1.02

            	
              Terms
                Generally; Alternate Currency Translation

            	
              40

            
	
              Section
                1.03

            	
              Accounting
                Terms; GAAP

            	
              40

            
	
              Section
                1.04

            	
              Resolution
                of Drafting Ambiguities

            	
              41

            
	
               

              ARTICLE
                II  

            
	 	 	 
	
              THE
                CREDITS  

            
	
              Section
                2.01

            	
              Commitments

            	
              41

            
	
              Section
                2.02

            	
              Loans.

            	
              41

            
	
              Section
                2.03

            	
              Borrowing
                Procedure

            	
              42

            
	
              Section
                2.04

            	
              Evidence
                of Debt; Repayment of Loans.

            	
              43

            
	
              Section
                2.05

            	
              Fees.

            	
              44

            
	
              Section
                2.06

            	
              Interest
                on Loans.

            	
              45

            
	
              Section
                2.07

            	
              Termination
                and Reduction of Commitments.

            	
              46

            
	
              Section
                2.08

            	
              Interest
                Elections.

            	
              47

            
	
              Section
                2.09

            	
              Amortization
                of Term Borrowings

            	
              48

            
	
              Section
                2.10

            	
              Optional
                and Mandatory Prepayments of Loans.

            	
              48

            
	
              Section
                2.11

            	
              Alternate
                Rate of Interest

            	
              52

            
	
              Section
                2.12

            	
              Yield
                Protection; Change in Legality

            	
              53

            
	
              Section
                2.13

            	
              Breakage
                Payments

            	
              55

            
	
              Section
                2.14

            	
              Payments
                Generally; Pro Rata Treatment; Sharing of Setoffs

            	
              56

            
	
              Section
                2.15

            	
              Taxes

            	
              58

            
	
              Section
                2.16

            	
              Mitigation
                Obligations; Replacement of Lenders

            	
              59

            
	
              Section
                2.17

            	
              Swingline
                Loans

            	
              60

            
	
              Section
                2.18

            	
              Letters
                of Credit

            	
              62

            
	
               

              ARTICLE
                III  

            
	 	 	 
	
              REPRESENTATIONS
                AND WARRANTIES  

            
	
              Section
                3.01

            	
              Organization;
                Powers

            	
              68

            
	
              Section
                3.02

            	
              Authorization;
                Enforceability

            	
              68

            
	
              Section
                3.03

            	
              No
                Conflicts

            	
              68

            
	
              Section
                3.04

            	
              Financial
                Statements; Projections

            	
              68

            
	
              Section
                3.05

            	
              Properties

            	
              69

            
	
              Section
                3.06

            	
              Intellectual
                Property

            	
              70

            
	
              Section
                3.07

            	
              Equity
                Interests and Subsidiaries

            	
              70

            
	
              Section
                3.08

            	
              Litigation;
                Compliance with Laws

            	
              71

            
	
              Section
                3.09

            	
              Agreements

            	
              72

            
	
              Section
                3.10

            	
              Federal
                Reserve Regulations

            	
              72

            
	
              Section
                3.11

            	
              Investment
                Company Act

            	
              72

            
	
              Section
                3.12

            	
              Use
                of Proceeds

            	
              72

            
	
              Section
                3.13

            	
              Taxes

            	
              72

            
	
              Section
                3.14

            	
              No
                Material Misstatements

            	
              72

            
	
              Section
                3.15

            	
              Labor
                Matters

            	
              73

            
	
              Section
                3.16

            	
              Solvency

            	
              73

            
	
              Section
                3.17

            	
              Employee
                Benefit Plans

            	
              73

            
	
              Section
                3.18

            	
              Environmental
                Matters

            	
              74

            
	
              Section
                3.19

            	
              Insurance

            	
              75

            
	
              Section
                3.20

            	
              Security
                Documents

            	
              75

            
	
              Section
                3.21

            	
              Acquisition
                Documents; Representations and Warranties in Acquisition
                Agreement

            	
              76

            
	
              Section
                3.22

            	
              Anti-Terrorism
                Law

            	
              77

            
	
              Section
                3.23

            	
              Subordination
                of Senior Subordinated Notes and Convertible Senior Subordinated
                Notes

            	
              77

            
	
               

              ARTICLE
                IV  

            
	 	 	 
	
              CONDITIONS
                TO CREDIT EXTENSIONS  

            
	
              Section
                4.01

            	
              Conditions
                to Initial Credit Extension

            	
              78

            
	
              Section
                4.02

            	
              Conditions
                to All Credit Extensions

            	
              83

            
	
               

              ARTICLE
                V  

            
	 	 	 
	
              AFFIRMATIVE
                COVENANTS  

            
	
              Section
                5.01

            	
              Financial
                Statements, Reports, etc

            	
              84

            
	
              Section
                5.02

            	
              Litigation
                and Other Notices

            	
              86

            
	
              Section
                5.03

            	
              Existence;
                Businesses and Properties

            	
              86

            
	
              Section
                5.04

            	
              Insurance

            	
              87

            
	
              Section
                5.05

            	
              Obligations
                and Taxes

            	
              88

            
	
              Section
                5.06

            	
              Employee
                Benefits

            	
              89

            
	
              Section
                5.07

            	
              Maintaining
                Records; Access to Properties and Inspections; Annual
                Meetings

            	
              89

            
	
              Section
                5.08

            	
              Use
                of Proceeds

            	
              90

            
	
              Section
                5.09

            	
              Compliance
                with Environmental Laws; Environmental Reports

            	
              90

            
	
              Section
                5.10

            	
              Additional
                Collateral; Additional Subsidiary Guarantors

            	
              90

            
	
              Section
                5.11

            	
              Security
                Interests; Further Assurances

            	
              92

            
	
              Section
                5.12

            	
              Information
                Regarding Collateral

            	
              92

            
	
              Section
                5.13

            	
              Post-Closing
                Covenants

            	
              93

            
	
              Section
                5.14

            	
              Affirmative
                Covenants with Respect to Leases

            	
              93

            
	
               

              ARTICLE
                VI  

            
	 	 	 
	
              NEGATIVE
                COVENANTS  

            
	
              Section
                6.01

            	
              Indebtedness

            	
              93

            
	
              Section
                6.02

            	
              Liens

            	
              95

            
	
              Section
                6.03

            	
              Sale
                and Leaseback Transactions

            	
              98

            
	
              Section
                6.04

            	
              Investments,
                Loans and Advances

            	
              98

            
	
              Section
                6.05

            	
              Mergers
                and Consolidations

            	
              99

            
	
              Section
                6.06

            	
              Asset
                Sales

            	
              100

            
	
              Section
                6.07

            	
              Acquisitions

            	
              100

            
	
              Section
                6.08

            	
              Dividends

            	
              101

            
	
              Section
                6.09

            	
              Transactions
                with Affiliates

            	
              102

            
	
              Section
                6.10

            	
              Financial
                Covenants

            	
              102

            
	
              Section
                6.11

            	
              Prepayments
                of Other Indebtedness; Modifications of Organizational Documents
                and Other
                Documents, etc

            	
              104

            
	
              Section
                6.12

            	
              Limitation
                on Certain Restrictions on Subsidiaries

            	
              105

            
	
              Section
                6.13

            	
              Limitation
                on Issuance of Capital Stock

            	
              105

            
	
              Section
                6.14

            	
              Limitation
                on Creation of Subsidiaries

            	
              106

            
	
              Section
                6.15

            	
              Business

            	
              106

            
	
              Section
                6.16

            	
              Limitation
                on Accounting Changes

            	
              106

            
	
              Section
                6.17

            	
              Fiscal
                Year

            	
              106

            
	
              Section
                6.18

            	
              No
                Further Negative Pledge

            	
              106

            
	
              Section
                6.19

            	
              Anti-Terrorism
                Law; Anti-Money Laundering

            	
              107

            
	
              Section
                6.20

            	
              Embargoed
                Person

            	
              107

            
	
               

              ARTICLE
                VII  

            
	 	 	 
	
              GUARANTEE  

            
	
              Section
                7.01

            	
              The
                Guarantee

            	
              107

            
	
              Section
                7.02

            	
              Obligations
                Unconditional

            	
              108

            
	
              Section
                7.03

            	
              Reinstatement

            	
              109

            
	
              Section
                7.04

            	
              Subrogation;
                Subordination

            	
              109

            
	
              Section
                7.05

            	
              Remedies

            	
              109

            
	
              Section
                7.06

            	
              Instrument
                for the Payment of Money

            	
              109

            
	
              Section
                7.07

            	
              Continuing
                Guarantee

            	
              109

            
	
              Section
                7.08

            	
              General
                Limitation on Guarantee Obligations

            	
              109

            
	
              Section
                7.09

            	
              Release
                of Subsidiary Guarantors

            	
              110

            
	
              Section
                7.10

            	
              Right
                of Contribution

            	
              110

            
	
               

              ARTICLE
                VIII  

            
	 	 	 
	
              EVENTS
                OF DEFAULT  

            
	
              Section
                8.01

            	
              Events
                of Default

            	
              110

            
	
              Section
                8.02

            	
              Application
                of Proceeds

            	
              113

            
	
               

              ARTICLE
                IX  

            
	 	 	 
	
              THE
                ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT  

            
	
              Section
                9.01

            	
              Appointment
                and Authority

            	
              114

            
	
              Section
                9.02

            	
              Rights
                as a Lender

            	
              114

            
	
              Section
                9.03

            	
              Exculpatory
                Provisions

            	
              114

            
	
              Section
                9.04

            	
              Reliance
                by Agent

            	
              115

            
	
              Section
                9.05

            	
              Delegation
                of Duties

            	
              115

            
	
              Section
                9.06

            	
              Resignation
                of Agent

            	
              115

            
	
              Section
                9.07

            	
              Non-Reliance
                on Agent and Other Lenders

            	
              116

            
	
              Section
                9.08

            	
              No
                Other Duties, etc

            	
              116

            
	
               

              ARTICLE
                X  

            
	 	 	 
	
              MISCELLANEOUS  

            
	
              Section
                10.01

            	
              Notices

            	
              116

            
	
              Section
                10.02

            	
              Waivers;
                Amendment

            	
              119

            
	
              Section
                10.03

            	
              Expenses;
                Indemnity; Damage Waiver

            	
              122

            
	
              Section
                10.04

            	
              Successors
                and Assigns

            	
              124

            
	
              Section
                10.05

            	
              Survival
                of Agreement

            	
              127

            
	
              Section
                10.06

            	
              Counterparts;
                Integration; Effectiveness

            	
              127

            
	
              Section
                10.07

            	
              Severability

            	
              127

            
	
              Section
                10.08

            	
              Right
                of Setoff

            	
              127

            
	
              Section
                10.09

            	
              Governing
                Law; Jurisdiction; Consent to Service of Process

            	
              128

            
	
              Section
                10.10

            	
              Waiver
                of Jury Trial

            	
              128

            
	
              Section
                10.11

            	
              Headings

            	
              129

            
	
              Section
                10.12

            	
              Treatment
                of Certain Information; Confidentiality

            	
              129

            
	
              Section
                10.13

            	
              USA
                PATRIOT Act Notice

            	
              129

            
	
              Section
                10.14

            	
              Interest
                Rate Limitation

            	
              129

            
	
              Section
                10.15

            	
              Lender
                Addendum

            	
              130

            
	
              Section
                10.16

            	
              Obligations
                Absolute

            	
              130

            
	
              Section
                10.17

            	
              Dollar
                Equivalent Calculations

            	
              130

            
	
              Section
                10.18

            	
              Judgment
                Currency

            	
              130

            
	
              Section
                10.19

            	
              Euro

            	
              131

            
	
              Section
                10.20

            	
              Special
                Provisions Relating to Currencies Other Than Dollars

            	
              131

            
	 	 	 
	
              ANNEXES  

            
	
              Annex
                I

            	
              Applicable
                Margin

            	
               

            
	
              Annex
                II

            	
              Amortization
                Table

            	 
	
              Annex
                III

            	
              Mandatory
                Cost Formula

            	 
	
               

              SCHEDULES

            	 	 
	
              Schedule
                1.01(a)

            	
              Refinancing
                Indebtedness to Be Repaid

            	 
	
              Schedule
                1.01(b)

            	
              Subsidiary
                Guarantors

            	 
	
              Schedule
                1.01(c)

            	
              Existing
                Letters of Credit

            	 
	
              Schedule
                3.03

            	
              Governmental
                Approvals; Compliance with Laws

            	 
	
              Schedule
                3.06(c)

            	
              Violations
                or Proceedings

            	 
	
              Schedule
                3.07(a)

            	
              Certain
                Equity Interests and Subsidiaries

            	 
	
              Schedule
                3.19

            	
              Insurance

            	 
	
              Schedule
                3.21

            	
              Acquisition
                Documents

            	 
	
              Schedule
                4.01(g)

            	
              Local
                and Foreign Counsel

            	 
	
              Schedule
                4.01(n)(vi)

            	
              Landlord
                Access Agreements

            	 
	
              Schedule
                4.01(o)(iii)

            	
              Title
                Insurance Amounts

            	 
	
              Schedule
                5.13

            	
              Post-Closing
                Covenants

            	 
	
              Schedule
                6.01(b)

            	
              Existing
                Indebtedness

            	 
	
              Schedule
                6.02(c)

            	
              Existing
                Liens

            	 
	
              Schedule
                6.04(b)

            	
              Existing
                Investments

            	 
	 	 	 
	
              EXHIBITS

            	 	 
	
              Exhibit
                A

            	
              Form
                of Administrative Questionnaire

            	 
	
              Exhibit
                B

            	
              Form
                of Assignment and Assumption

            	 
	
              Exhibit
                C

            	
              Form
                of Borrowing Request

            	 
	
              Exhibit
                D

            	
              Form
                of Compliance Certificate

            	 
	
              Exhibit
                E

            	
              Form
                of Interest Election Request

            	 
	
              Exhibit
                F

            	
              Form
                of Joinder Agreement

            	 
	
              Exhibit
                G

            	
              Form
                of Landlord Access Agreement

            	 
	
              Exhibit
                H

            	
              Form
                of LC Request

            	 
	
              Exhibit
                I

            	
              Form
                of Lender Addendum

            	 
	
              Exhibit
                J

            	
              Form
                of Mortgage

            	 
	
              Exhibit
                K-1

            	
              Form
                of Dollar Term Note

            	 
	
              Exhibit
                K-2

            	
              Form
                of Euro Term Note

            	 
	
              Exhibit
                K-3

            	
              Form
                of GBP Term Note

            	 
	
              Exhibit
                K-4

            	
              Form
                of Revolving Note

            	 
	
              Exhibit
                K-5

            	
              Form
                of Swingline Note

            	 
	
              Exhibit
                L-1

            	
              Form
                of Perfection Certificate

            	 
	
              Exhibit
                L-2

            	
              Form
                of Perfection Certificate Supplement

            	 
	
              Exhibit
                M

            	
              Form
                of Security Agreement

            	 
	
              Exhibit
                N

            	
              Form
                of Opinion of Company Counsel

            	 
	
              Exhibit
                O

            	
              Form
                of Solvency Certificate

            	 
	
              Exhibit
                P

            	
              Form
                of Intercompany Note

            	 
	
              Exhibit
                Q

            	
              Form
                of Non-Bank Certificate

            	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    CREDIT
      AGREEMENT

     

     

    This
      CREDIT AGREEMENT (this “Agreement”) dated as of April 18, 2007,
      among ITRON, INC., a Washington corporation (“Borrower”), the
      Subsidiary Guarantors (such term and each other capitalized term used but not
      defined herein having the meaning given to it in Article I), the Lenders, UBS
      SECURITIES LLC, as lead arranger (in such capacity,
“Arranger”), and as syndication agent (in such capacity,
“Syndication Agent”), WELLS FARGO BANK, NATIONAL ASSOCIATION,
      as swingline lender (in such capacity, “Swingline Lender”), as
      an Issuing Bank, as administrative agent (in such capacity,
“Administrative Agent”) for the Lenders and as collateral agent
      (in such capacity, “Collateral Agent”) for the Secured Parties
      and each Issuing Bank, and MIZUHO CORPORATE BANK, LTD., as an Issuing Bank
      as
      documentation agent (in such capacity, “Documentation
      Agent”).

     

     

    WITNESSETH:

     

     

    WHEREAS,
      Borrower has entered into a Stock Purchase Agreement, dated as of February
      25,
      2007 (as amended, supplemented or otherwise modified from time to time in
      accordance with the provisions hereof and thereof, the “Acquisition
      Agreement”), with the stockholders of the Acquired Business
      (“Sellers”), LBO France Gestion SAS, and Actaris Metering
      Systems S.A., a Luxembourg public limited liability company, having its
      registered office at 26, rue de Louvigny, L-1946, Luxembourg and registered
      with
      the Luxembourg Trade and Companies Register under the number B 108445 (the
      “Acquired Business”), to acquire (the
“Acquisition”) 100% of (a) the issued and outstanding
      shares of
      common stock, par value €25 per share, of the Acquired Business (the
“Acquired Business Common Stock”) and (b) the outstanding
      convertible bonds issued by the Acquired Business (the “Acquired
      Business Convertible Bonds”).

     

     

    WHEREAS,
      the Acquisition will be effected through the purchase by Borrower and its
      Subsidiaries from Sellers of the Acquired Business Common Stock and the Acquired
      Business Convertible Bonds.

     

     

    WHEREAS,
      the Equity Financing shall have been consummated prior to the date
      hereof.

     

     

    WHEREAS,
      Borrower has requested the Lenders to extend credit in the form of (a) Dollar
      Term Loans on the Closing Date, in an aggregate principal amount not in excess
      of $605.1 million, (b) Euro Term Loans on the Closing Date, in an aggregate
      principal amount not in excess of €335.0 million, (c) GBP Term Loans on the
      Closing Date, in an aggregate principal amount not in excess of £50.0 million
      and (d) Revolving Loans, to be made available in Approved Currencies, at any
      time and from time to time, following the Closing Date and prior to the
      Revolving Maturity Date, in an aggregate principal amount at any time
      outstanding not in excess of $115.0 million.

     

     

    WHEREAS,
      Borrower has requested the Swingline Lender to make Swingline Loans, to be
      made
      available in Dollars, at any time and from time to time, following the Closing
      Date and prior to the Revolving Maturity Date, in an aggregate principal amount
      at any time outstanding not in excess of $15.0 million.

     

     

    WHEREAS,
      Borrower has requested the Issuing Bank to issue letters of credit, to be made
      available in Approved Currencies, in an aggregate face amount for all letters
      of
      credit at any time outstanding not in excess of $100.0 million, to support
      payment obligations incurred in the ordinary course of business by Borrower
      and
      its Subsidiaries.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    WHEREAS,
      the proceeds of the Loans are to be used in accordance with Section
      3.12.

     

     

    NOW,
      THEREFORE, the Lenders are willing to extend such credit to Borrower and each
      Issuing Bank is willing to issue letters of credit for the account of Borrower
      on the terms and subject to the conditions set forth
      herein.  Accordingly, the parties hereto agree as
      follows:

     

     

    ARTICLE
      I                                

     

    DEFINITIONS

     

     

    Section
      1.01  Defined
      Terms

     

    .  As
      used in this Agreement, the following terms shall have the meanings specified
      below:

     

     

    “ABR”,
      when used in reference to any Loan or Borrowing, is used when such Loan, or
      the
      Loans comprising such Borrowing, are bearing interest at a rate determined
      by
      reference to the Alternate Base Rate.

     

     

    “ABR
      Borrowing” shall mean a Borrowing comprised of ABR Loans.

     

     

    “ABR
      Loan” shall mean any ABR Term Loan, ABR Revolving Loan or Swingline
      Loan.

     

     

    “ABR
      Revolving Loan” shall mean any Revolving Loan bearing
      interest at a rate determined by reference to the Alternate Base Rate in
      accordance with the provisions of Article II.

     

     

    “ABR
      Term Loan” shall mean any Term Loan bearing interest at a rate
      determined by reference to the Alternate Base Rate in accordance with the
      provisions of Article II.

     

     

    “Acquired
      Business” shall have the meaning assigned to such term in the first
      recital hereto.

     

     

    “Acquired
      Business Common Stock” shall have the meaning assigned to such term in
      the first recital hereto.

     

     

    “Acquired
      Business Convertible Bonds” shall have the meaning assigned to such
      term in the first recital hereto.

     

     

    “Acquisition”
      shall have the meaning assigned to such term in the first recital
      hereto.

     

     

    “Acquisition
      Agreement” shall have the meaning assigned to such term in the first
      recital hereto.

     

     

    “Acquisition
      Consideration” shall mean the purchase consideration for any Permitted
      Acquisition and all other payments by Borrower or any of its Subsidiaries in
      exchange for, or as part of, or in connection with, any Permitted Acquisition,
      whether paid in cash or by exchange of Equity Interests or of properties or
      otherwise and whether payable at or prior to the consummation of such Permitted
      Acquisition or deferred for payment at any future time, whether or not any
      such
      future payment is subject to the occurrence of any contingency, and includes
      any
      and all payments representing the purchase price and any assumptions of
      Indebtedness, “earn-outs” and other agreements to make any payment the amount of
      which is, or the terms of payment of which are, in any respect subject to or
      contingent upon the revenues, income, cash flow or profits (or the like) of
      any
      person or business; provided that any such future payment that is
      subject to a contingency shall be considered Acquisition Consideration only
      to
      the extent of the reserve, if any, required under GAAP at the time of such
      sale
      to be established in respect thereof by Borrower or any of its
      Subsidiaries.

     

     

    “Acquisition
      Documents” shall mean the collective reference to the Acquisition
      Agreement and the other documents listed on Schedule 3.21.

     

     

    “Adjusted
      EURIBOR Rate” shall mean, with respect to any EURIBOR Borrowing for any
      Interest Period, an interest rate per annum (rounded upward, if necessary,
      to
      the nearest 1/100th of 1%) determined by the Administrative Agent to be equal
      to
      the sum of (a) (i) the EURIBOR Rate for such EURIBOR Borrowing in effect for
      such Interest Period divided by (ii) 1 minus the Statutory Reserves (if
      any) for such EURIBOR Borrowing for such Interest Period plus, without
      duplication of any increase in interest rate attributable to Statutory Reserves
      pursuant to the foregoing clause (ii), (b) the Mandatory Cost (if
      any).

     

     

    “Adjusted
      LIBOR Rate” shall mean, with respect to any Eurocurrency Borrowing for
      any Interest Period, an interest rate per annum (rounded upward, if necessary,
      to the nearest 1/100th of 1%) determined by the Administrative Agent to be
      equal
      to the sum of (a) (i) the LIBOR Rate for such Eurocurrency Borrowing in effect
      for such Interest Period divided by (ii) 1 minus the Statutory Reserves
      (if any) for such Eurocurrency Borrowing for such Interest Period plus,
      without duplication of any increase in interest rate attributable to Statutory
      Reserves pursuant to the foregoing clause (ii), (b) the Mandatory Cost (if
      any).

     

     

    “Administrative
      Agent” shall have the meaning assigned to such term in the preamble
      hereto and includes each other person appointed as the successor pursuant to
      Article X.

     

     

    “Administrative
      Agent Fees” shall have the meaning assigned to such term in Section
      2.05(b).

     

     

    “Administrative
      Questionnaire” shall mean an Administrative Questionnaire in
      substantially the form of Exhibit A.

     

     

    “Affiliate”
      shall mean, when used with respect to a specified person, another person that
      directly, or indirectly through one or more intermediaries, Controls or is
      Controlled by or is under common Control with the person specified;
provided, however, that, for purposes of Section 6.09,
      the term “Affiliate” shall also include (i) any person that directly or
      indirectly owns more than 15% of any class of Equity Interests of the person
      specified or (ii) any person that is an executive officer or director of the
      person specified.

     

     

    “Agents”
      shall mean the Administrative Agent and the Collateral Agent; and
“Agent” shall mean any of them.

     

     

    “Agreement”
      shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Alternate
      Base Rate” shall mean, for any day, a rate per annum (rounded upward,
      if necessary, to the nearest 1/100th of 1%) equal to the greater of (a) the
      Base
      Rate in effect on such day and (b) the Federal Funds Effective Rate in effect
      on
      such day plus 0.50%.  If the Administrative Agent shall have
      determined (which determination shall be conclusive absent manifest error)
      that
      it is unable to ascertain the Federal Funds Effective Rate for any reason,
      including the inability or failure of the Administrative Agent to obtain
      sufficient quotations in accordance with the terms of the definition thereof,
      the Alternate Base Rate shall be determined without regard to clause (b) of
      the
      preceding sentence until the circumstances giving rise to such inability no
      longer exist.  Any change in the Alternate Base Rate due to a change
      in the Base Rate or the Federal Funds Effective Rate shall be effective on
      the
      effective date of such change in the Base Rate or the Federal Funds Effective
      Rate, respectively.

     

     

    “Alternate
      Currency” shall mean each of Euros and GBP.

     

     

    “Alternate
      Currency Equivalent” shall mean, as to any amount denominated in
      Dollars as of any date of determination, the amount of the applicable Alternate
      Currency that could be purchased with such amount of Dollars based upon the
      Spot
      Selling Rate.

     

     

    “Alternate
      Currency Letter of Credit” shall mean any Letter of Credit to the
      extent denominated in an Alternate Currency.

     

     

    “Alternate
      Currency Loan” shall mean Euro Loans and GBP Loans.

     

     

    “Anti-Terrorism
      Laws” shall have the meaning assigned to such term in Section
      3.22.

     

     

    “Applicable
      Fee” shall mean, for any day, with respect to any Commitment, (a) until
      the Trigger Date, 0.50% and (b) on and after the Trigger Date, the applicable
      percentage set forth in Annex I under the caption “Applicable
      Fee”.

     

     

    “Applicable
      Margin” shall mean, for any day, (a) until the Trigger Date, (i) with
      respect to any Term Loans that are Eurocurrency Loans or EURIBOR Loans, 2.00%,
      (ii) with respect to any Term Loans that are ABR Loans, 1.00%, (iii) with
      respect to any Revolving Loans that are Eurocurrency Loans or EURIBOR Loans,
      2.00% and (iv) with respect to any Revolving Loans that are ABR Loans, and
      with
      respect to any Swingline Loans, 1.00% and (b) on and after the Trigger Date,
      with respect to any Loan, the applicable percentage set forth in Annex I
      under the appropriate caption.

     

     

    “Applicable
      Percentage” shall mean, with respect to any Lender, the percentage of
      the total Loans and Commitments represented by such Lender’s Loans and
      Commitments.

     

     

    “Approved
      Currency” shall mean each of Dollars and each Alternate
      Currency.

     

     

    “Approved
      Fund” shall mean any Fund that is administered or managed by (a) a
      Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an
      entity that administers or manages a Lender.

     

     

    “Arranger”
      shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Asset
      Sale” shall mean (a) any conveyance, sale, lease, sublease, assignment,
      transfer or other disposition (including by way of merger or consolidation
      and
      including any Sale and Leaseback Transaction) of any property excluding sales
      of
      inventory and dispositions of cash and cash equivalents, in each case, in the
      ordinary course of business, by Borrower or any of its Subsidiaries and (b)
      any
      issuance or sale of any Equity Interests of any Subsidiary of Borrower, in
      each
      case, to any person other than (i) Borrower, (ii) any Subsidiary Guarantor
      or
      (iii) other than for purposes of Section 6.06, any other
      Subsidiary.

     

     

    “Assignment
      and Assumption” shall mean an assignment and assumption entered into by
      a Lender and an Eligible Assignee (with the consent of any party whose consent
      is required by Section 10.04(b)), and accepted by the Administrative
      Agent, in substantially the form of Exhibit B, or any other form approved
      by the Administrative Agent.

     

     

    “Attributable
      Indebtedness” shall mean, when used with respect to any Sale and
      Leaseback Transaction, as at the time of determination, the present value
      (discounted at a rate equivalent to Borrower’s then-current weighted average
      cost of funds for borrowed money as at the time of determination, compounded
      on
      a semi-annual basis) of the total obligations of the lessee for rental payments
      during the remaining term of the lease included in any such Sale and Leaseback
      Transaction.

     

     

    “Bailee
      Letter” shall have the meaning assigned thereto in the Security
      Agreement.

     

     

    “Base
      Rate” shall mean, for any day, a rate per annum that is equal to the
      corporate base rate of interest established by the Administrative Agent from
      time to time; each change in the Base Rate shall be effective on the date such
      change is effective.  The corporate base rate is not necessarily the
      lowest rate charged by the Administrative Agent to its customers.

     

     

    “Board”
      shall mean the Board of Governors of the Federal Reserve System of the United
      States.

     

     

    “Board
      of Directors” shall mean, with respect to any person, (i) in the case
      of any corporation, the board of directors of such person, (ii) in the case
      of
      any limited liability company, the board of managers of such person, (iii)
      in
      the case of any partnership, the Board of Directors of the general partner
      of
      such person and (iv) in any other case, the functional equivalent of the
      foregoing.

     

     

    “Borrower”
      shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Borrower
      ECF Amount” shall mean, with respect to any Excess Cash Flow Period of
      Borrower, commencing with the Excess Cash Flow Period ending December 31, 2007,
      the product of (x) 100% less the ECF Percentage for such Excess Cash
      Flow Period times (y) the Excess Cash Flow with respect to such Excess
      Cash Flow Period.

     

     

    “Borrowing”
      shall mean (a) Loans of the same Class, Type and Approved Currency, made,
      converted or continued on the same date and, in the case of Eurocurrency Loans
      and EURIBOR Loans, as to which a single Interest Period is in effect, or (b)
      a
      Swingline Loan.

     

     

    “Borrowing
      Request” shall mean a request by Borrower in accordance with the terms
      of Section 2.03 and substantially in the form of Exhibit C, or
      such other form as shall be approved by the Administrative Agent.

     

     

    “Business
      Day” shall mean any day other than a Saturday, Sunday or other day on
      which banks in New York City are authorized or required by law to close;
provided, however, that when used in connection with (a) a
      Eurocurrency Loan, the term “Business Day” shall also exclude any day on which
      banks are not open for dealings in Dollar deposits in the London interbank
      market, (b) a Euro Term Loan or a Euro Revolving Loan, the term “Business Day”
shall also exclude any day which is not a TARGET Day (as determined in good
      faith by the Administrative Agent), (c) a GBP Term Loan or a GBP Revolving
      Loan,
      the term “Business Day” shall also exclude any day on which banks are not open
      for dealings in GBP deposits in the London interbank market, (d) any Letter
      of
      Credit, the term “Business Day” shall also exclude any day on which banks in
      London are authorized or required by law to close.

     

     

    “Capital
      Assets” shall mean, with respect to any person, all equipment, fixed
      assets and Real Property or improvements of such person, or replacements or
      substitutions therefor or additions thereto, that, in accordance with GAAP,
      have
      been or should be reflected as additions to property, plant or equipment on
      the
      balance sheet of such person.

     

     

    “Capital
      Expenditures” shall mean, for any period, without duplication, all
      expenditures made directly or indirectly by Borrower and its Subsidiaries during
      such period for Capital Assets (whether paid in cash or other consideration,
      financed by the incurrence of Indebtedness or accrued as a liability), but
      excluding (i) expenditures made in connection with the replacement, substitution
      or restoration of property pursuant to Section 2.10(e) and (ii) any
      portion of such increase attributable solely to acquisitions of property, plant
      and equipment in Permitted Acquisitions.  For purposes of this
      definition, the purchase price of equipment or other fixed assets that are
      purchased simultaneously with the trade-in of existing assets or with insurance
      proceeds shall be included in Capital Expenditures only to the extent of the
      gross amount by which such purchase price exceeds the credit granted by the
      seller of such assets for the assets being traded in at such time or the amount
      of such insurance proceeds, as the case may be.

     

     

    “Capital
      Lease Obligations” of any person shall mean the obligations of such
      person to pay rent or other amounts under any lease of (or other arrangement
      conveying the right to use) real or personal property, or a combination thereof,
      which obligations are required to be classified and accounted for as capital
      leases on a balance sheet of such person under GAAP, and the amount of such
      obligations shall be the capitalized amount thereof determined in accordance
      with GAAP.

     

     

    “Cash
      Equivalents” shall mean, as to any person, (a) securities issued, or
      directly, unconditionally and fully guaranteed or insured, by the United
      States or any agency or instrumentality thereof
      (provided that the full faith and credit of the United States is
      pledged in support thereof) having maturities of not more than one year from
      the
      date of acquisition by such person; (b) time deposits and certificates of
      deposit of any Lender or any commercial bank having, or which is the principal
      banking subsidiary of a bank holding company organized under the laws of the
      United States, any state thereof or the District of Columbia having, capital
      and
      surplus aggregating in excess of $500.0 million and a rating of “A” (or such
      other similar equivalent rating) or higher by at least one nationally recognized
      statistical rating organization (as defined in Rule 436 under the Securities
      Act) with maturities of not more than one year from the date of acquisition
      by
      such person; (c) repurchase obligations with a term of not more than 30 days
      for
      underlying securities of the types described in clause (a) above entered into
      with any bank meeting the qualifications specified in clause (b) above, which
      repurchase obligations are secured by a valid perfected security interest in
      the
      underlying securities; (d) commercial paper issued by any person incorporated
      in
      the United States rated at least A-1 or the equivalent thereof by Standard
&
Poor’s Rating Service or at least P-1 or the equivalent thereof by Moody’s
      Investors Service Inc., and in each case maturing not more than one year after
      the date of acquisition by such person; (e) investments in money market funds
      substantially all of whose assets are comprised of securities of the types
      described in clauses (a) through (d) above; (f) demand deposit accounts
      maintained in the ordinary course of business; and (g) Investments made in
      jurisdictions outside of the United States, where Borrower and its Subsidiaries
      conduct business which are of a type and credit quality, comparable for such
      jurisdiction, to the Investments described in clauses (a) through (f)
      above.

     

     

    “Cash
      Interest Expense” shall mean, for any period, Consolidated Interest
      Expense for such period, less the sum of (a) interest on any debt paid
      by the increase in the principal amount of such debt including by issuance
      of
      additional debt of such kind, (b) items described in clause (c) or, other than
      to the extent paid in cash, clause (g) of the definition of “Consolidated
      Interest Expense” and (c) gross interest income of Borrower and its Subsidiaries
      for such period.

     

     

    “Casualty
      Event” shall mean any involuntary loss of title, any involuntary loss
      of, damage to or any destruction of, or any condemnation or other taking
      (including by any Governmental Authority) of, any property of Borrower or any
      of
      its Subsidiaries.  “Casualty Event” shall include but not be limited
      to any taking of all or any part of any Real Property of any person or any
      part
      thereof, in or by condemnation or other eminent domain proceedings pursuant
      to
      any Requirement of Law, or by reason of the temporary requisition of the use
      or
      occupancy of all or any part of any Real Property of any person or any part
      thereof by any Governmental Authority, civil or military, or any settlement
      in
      lieu thereof.

     

     

    “CERCLA”
      shall mean the Comprehensive Environmental Response, Compensation, and Liability
      Act of 1980, as amended, 42 U.S.C. § 9601 et seq. and all implementing
      regulations.

     

     

    A
      “Change in Control” shall be deemed to have occurred
      if:

     

     

    (a)  any
      “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
      Exchange Act) is or becomes the beneficial owner (as defined in Rules 13d-3
      and
      13d-5 under the Exchange Act, except that for purposes of this clause such
      person or group shall be deemed to have “beneficial ownership” of all securities
      that such person or group has the right to acquire, whether such right is
      exercisable immediately or only after the passage of time), directly or
      indirectly, of Voting Stock of Borrower representing more than 25% of the voting
      power of the total outstanding Voting Stock of Borrower; or

     

     

    (b)  during
      any period of two consecutive years, individuals who at the beginning of such
      period constituted the Board of Directors of Borrower (together with any new
      directors whose election to such Board of Directors or whose nomination for
      election was approved by a vote of a majority of the members of the Board of
      Directors of Borrower, which members comprising such majority are then still
      in
      office and were either directors at the beginning of such period or whose
      election or nomination for election was previously so approved) cease for any
      reason to constitute a majority of the Board of Directors of
      Borrower.

     

     

    For
      purposes of this definition, a person shall not be deemed to have beneficial
      ownership of Equity Interests subject to a stock purchase agreement, merger
      agreement or similar agreement until the consummation of the transactions
      contemplated by such agreement.

     

     

    “Change
      in Law” shall mean the occurrence, after the date of this Agreement, of
      any of the following:  (a) the adoption or taking into effect of any
      law, treaty, order, policy, rule or regulation, (b) any change in any law,
      treaty, order, policy, rule or regulation or in the administration,
      interpretation or application thereof by any Governmental Authority or (c)
      the
      making or issuance of any request, guideline or directive (whether or not having
      the force of law) by any Governmental Authority.

     

     

    “Charges”
      shall have the meaning assigned to such term in Section
      10.14.

     

     

    “Class”,
      when used in reference to any Loan or Borrowing, refers to whether such Loan,
      or
      the Loans comprising such Borrowing, are Dollar Revolving Loans, Dollar Term
      Loans, Euro Revolving Loans, Euro Term Loans, GBP Revolving Loans, GBP Term
      Loans or Swingline Loans and, when used in reference to any Commitment, refers
      to whether such Commitment is a Revolving Commitment, Dollar Term Commitment,
      Euro Term Commitment, GBP Term Commitment or Swingline Commitment, in each
      case,
      under this Agreement, of which such Loan, Borrowing or Commitment shall be
      a
      part.

     

     

    “Closing
      Date” shall mean the date of the initial Credit Extension
      hereunder.

     

     

    “Code”
      shall mean the Internal Revenue Code of 1986.

     

     

    “Collateral”
      shall mean, collectively, all of the Security Agreement Collateral, the
      Mortgaged Property and all other property of whatever kind and nature subject
      or
      purported to be subject from time to time to a Lien under any Security
      Document.

     

     

    “Collateral
      Agent” shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Commercial
      Letter of Credit” shall mean any letter of credit or similar instrument
      issued for the purpose of providing credit support in connection with the
      purchase of materials, goods or services by Borrower or any of its Subsidiaries
      in the ordinary course of their businesses.

     

     

    “Commitment”
      shall mean, with respect to any Lender, such Lender’s Revolving Commitment,
      Dollar Term Commitment, Euro Term Commitment, GBP Term Commitment or Swingline
      Commitment.

     

     

    “Commitment
      Fee” shall have the meaning assigned to such term in Section
      2.05(a).

     

     

    “Companies”
      shall mean Borrower and its Subsidiaries; and “Company” shall
      mean any one of them.

     

     

    “Compliance
      Certificate” shall mean a certificate of a Financial Officer
      substantially in the form of Exhibit D.

     

     

    “Confidential
      Information Memorandum” shall mean that certain confidential
      information memorandum dated March 2007.

     

     

    “Consolidated
      Amortization Expense” shall mean, for any period, the amortization
      expense of Borrower and its Subsidiaries for such period, determined on a
      consolidated basis in accordance with GAAP.

     

     

    “Consolidated
      Current Assets” shall mean, as at any date of determination, the total
      assets of Borrower and its Subsidiaries which may properly be classified as
      current assets on a consolidated balance sheet of Borrower and its Subsidiaries
      in accordance with GAAP, excluding cash and Cash Equivalents.

     

     

    “Consolidated
      Current Liabilities” shall mean, as at any date of determination, the
      total liabilities of Borrower and its Subsidiaries which may properly be
      classified as current liabilities (other than the current portion of any Loans)
      on a consolidated balance sheet of Borrower and its Subsidiaries in accordance
      with GAAP, but excluding (a) the current portion of any Funded Debt of Borrower
      and its Subsidiaries and (b) without duplication of clause (a) above, all
      Indebtedness consisting of Revolving Loans or Swingline Loans to the extent
      otherwise included therein.

     

     

    “Consolidated
      Depreciation Expense” shall mean, for any period, the depreciation
      expense of Borrower and its Subsidiaries for such period, determined on a
      consolidated basis in accordance with GAAP.

     

     

    “Consolidated
      EBITDA” shall mean, for any period, Consolidated Net Income for such
      period, adjusted by (x) adding thereto, in each case only to the extent
      (and in the same proportion) deducted in determining such Consolidated Net
      Income and without duplication (and with respect to the portion of Consolidated
      Net Income attributable to any Subsidiary of Borrower only if a corresponding
      amount would be permitted at the date of determination to be distributed to
      Borrower by such Subsidiary without prior approval (that has not been obtained),
      pursuant to the terms of its Organizational Documents and all agreements,
      instruments and Requirements of Law applicable to such Subsidiary or its
      equityholders):

     

     

    (a)           Consolidated
      Interest Expense for such period,

     

     

    (b)           Consolidated
      Amortization Expense for such period,

     

     

    (c)           Consolidated
      Depreciation Expense for such period,

     

     

    (d)           Consolidated
      Tax Expense for such period,

     

     

    (e)           (i)
      costs and expenses directly incurred in connection with the Transactions (not
      to
      exceed $43.0 million in the aggregate for all Test Periods) and (ii) costs
      and
      expenses directly incurred in connection with the Equity Financing (not to
      exceed $10.0 million in the aggregate for all Test Periods), and

     

     

    (f)           the
      aggregate amount of all other non-cash charges reducing Consolidated Net Income
      (excluding any non-cash charge that results in an accrual of a reserve for
      cash
      charges in any future period) for such period, and

     

     

    (y)
      subtracting therefrom the aggregate amount of all (a) non-cash items
      increasing Consolidated Net Income (other than the accrual of revenue or
      recording of receivables in the ordinary course of business) for such period
      and
      (b) interest income of Borrower and its Subsidiaries for such
      period.

     

     

    Other
      than for purposes of calculating Excess Cash Flow, Consolidated EBITDA shall
      be
      calculated on a Pro Forma Basis to give effect to the Acquisition, any Permitted
      Acquisition and Asset Sales (other than any dispositions in the ordinary course
      of business) consummated at any time on or after the first day of the Test
      Period thereof as if the Acquisition and each such Permitted Acquisition had
      been effected on the first day of such period and as if each such Asset Sale
      had
      been consummated on the day prior to the first day of such period;
provided that, notwithstanding any of the foregoing, (i) Consolidated
      EBITDA for the fiscal quarter of Borrower ended June 30, 2006, calculated on
      a
      Pro Forma Basis to give effect to the Acquisition, shall be deemed to be $73.4
      million, (ii) Consolidated EBITDA for the fiscal quarter of Borrower ended
      September 30, 2006, calculated on a Pro Forma Basis to give effect to the
      Acquisition, shall be deemed to be $71.3 million and (iii) Consolidated EBITDA
      for the fiscal quarter of Borrower ended December 31, 2006, calculated on a
      Pro
      Forma Basis to give effect to the Acquisition, shall be deemed to be $67.7
      million.

     

     

    “Consolidated
      Indebtedness” shall mean, as at any date of determination, the
      aggregate amount of all Indebtedness of Borrower and its Subsidiaries,
      determined on a consolidated basis in accordance with GAAP.

     

     

    “Consolidated
      Interest Coverage Ratio” shall mean, for any Test Period, the ratio of
      (x) Consolidated EBITDA for such Test Period to (y) Consolidated Interest
      Expense for such Test Period; provided that for purposes of determining
      Consolidated Interest Expense for any period ending prior to the first
      anniversary of the Closing Date, in connection with the calculation of the
      Consolidated Interest Coverage Ratio, Consolidated Interest Expense shall be
      an
      amount equal to actual Consolidated Interest Expense from the Closing Date
      through the date of determination multiplied by a fraction the numerator of
      which is 365 and the denominator of which is the number of days from the Closing
      Date through the date of determination.

     

     

    “Consolidated
      Interest Expense” shall mean, for any period, the total consolidated
      interest expense of Borrower and its Subsidiaries for such period determined
      on
      a consolidated basis in accordance with GAAP plus, without
      duplication:

     

     

    (a)         imputed
      interest on Capital Lease Obligations and Attributable Indebtedness of Borrower
      and its Subsidiaries for such period;

     

     

    (b)  commissions,
      discounts and other fees and charges owed by Borrower or any of its Subsidiaries
      with respect to letters of credit securing financial obligations, bankers’
acceptance financing and receivables financings for such period;

     

     

    (c)  amortization
      of debt issuance costs, debt discount or premium and other financing fees and
      expenses incurred by Borrower or any of its Subsidiaries for such
      period;

     

     

    (d)  cash
      contributions to any employee stock ownership plan or similar trust made by
      Borrower or any of its Subsidiaries to the extent such contributions are used
      by
      such plan or trust to pay interest or fees to any person (other than Borrower
      or
      a Wholly Owned Subsidiary) in connection with Indebtedness incurred by such
      plan
      or trust for such period;

     

     

    (e)  all
      interest paid or payable with respect to discontinued operations of Borrower
      or
      any of its Subsidiaries for such period;

     

     

    (f)  the
      interest portion of any deferred payment obligations of Borrower or any of
      its
      Subsidiaries for such period;

     

     

    (g)  all
      interest on any Indebtedness of Borrower or any of its Subsidiaries of the
      type
      described in clause (f) or (k) of the definition of “Indebtedness” for such
      period;

     

     

    provided
      that (a) to the extent directly related to the Transactions, debt issuance
      costs, debt discount or premium and other financing fees and expenses shall
      be
      excluded from the calculation of Consolidated Interest Expense and (b)
      Consolidated Interest Expense shall be calculated after giving effect to Hedging
      Agreements related to interest rates (including associated costs), but excluding
      unrealized gains and losses with respect to Hedging Agreements related to
      interest rates.

     

     

    Other
      than for purposes of calculating Cash Interest Expense, Consolidated Interest
      Expense shall be calculated on a Pro Forma Basis to give effect to any
      Indebtedness incurred, assumed or permanently repaid or extinguished during
      the
      relevant Test Period in connection with the Acquisition, any Permitted
      Acquisitions and Asset Sales (other than any dispositions in the ordinary course
      of business) as if such incurrence, assumption, repayment or extinguishing
      had
      been effected on the first day of such period.

     

     

    “Consolidated
      Net Income” shall mean, for any period, the consolidated net income (or
      loss) of Borrower and its Subsidiaries determined on a consolidated basis in
      accordance with GAAP; provided that there shall be excluded from such
      net income (to the extent otherwise included therein), without
      duplication:

     

     

    (a)         the
      net income (or loss) of any person (other than a Subsidiary of Borrower) in
      which any person other than Borrower and its Subsidiaries has an ownership
      interest, except to the extent that cash in an amount equal to any such income
      has actually been received by Borrower or (subject to clause (b)(i) below)
      any
      of its Subsidiaries during such period;

     

     

    (b)  (i)
      the
      net income of any Subsidiary of Borrower during such period to the extent that
      the declaration or payment of dividends or similar distributions by such
      Subsidiary of that income is not permitted by operation of the terms of its
      Organizational Documents or any agreement, instrument or Requirement of Law
      applicable to that Subsidiary during such period, except that Borrower’s equity
      in net loss of any such Subsidiary for such period shall be included in
      determining Consolidated Net Income and (ii) the net income (or loss) of any
      Outsourcing Project Subsidiary if such Outsourcing Project Subsidiary is in
      default under its Outsourcing Project Indebtedness;

     

     

    (c)  any
      gain
      (or loss), together with any related provisions for taxes on any such gain
      (or
      the tax effect of any such loss), realized during such period by Borrower or
      any
      of its Subsidiaries upon any Asset Sale (other than any dispositions in the
      ordinary course of business) by Borrower or any of its
      Subsidiaries;

     

     

    (d)  gains
      and
      losses due solely to fluctuations in currency values and the related tax effects
      determined in accordance with GAAP for such period;

     

     

    (e)  earnings
      resulting from any reappraisal, revaluation or write-up of assets;

     

     

    (f)  unrealized
      gains and losses with respect to Hedging Obligations for such period;
      and

     

     

    (g)  any
      extraordinary or nonrecurring gain (or extraordinary or nonrecurring loss),
      together with any related provision for taxes on any such gain (or the tax
      effect of any such loss), recorded or recognized by Borrower or any of its
      Subsidiaries during such period.

     

     

    For
      purposes of this definition of “Consolidated Net Income,”
“nonrecurring” means any gain or loss as of any date that is
      not reasonably likely to recur within the two years following such date;
provided that if there was a gain or loss similar to such gain or loss
      within the two years preceding such date, such gain or loss shall not be deemed
      nonrecurring.

     

     

    “Consolidated
      Tax Expense” shall mean, for any period, the tax expense of Borrower
      and its Subsidiaries, for such period, determined on a consolidated basis in
      accordance with GAAP.

     

     

    “Contested
      Collateral Lien Conditions” shall mean, with respect to any Permitted
      Lien of the type described in clauses (a), (b), (e) and (f) of Section
      6.02, the following conditions:

     

     

    (a)         Borrower
      shall cause any proceeding instituted contesting such Lien to stay the sale
      or
      forfeiture of any portion of the Collateral on account of such
      Lien;

     

     

    (b)  at
      the
      option and at the request of the Administrative Agent, to the extent such Lien
      is in an amount in excess of $100,000, the appropriate Loan Party shall maintain
      cash reserves in an amount sufficient to pay and discharge such Lien and the
      Administrative Agent’s reasonable estimate of all interest and penalties related
      thereto; and

     

     

    (c)  such
      Lien
      shall in all respects be subject and subordinate in priority to the Lien and
      security interest created and evidenced by the Security Documents, except if
      and
      to the extent that the Requirement of Law creating, permitting or authorizing
      such Lien provides that such Lien is or must be superior to the Lien and
      security interest created and evidenced by the Security Documents.

     

     

    “Contingent
      Obligation” shall mean, as to any person, any obligation, agreement,
      understanding or arrangement 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 any obligation of such person, whether or not contingent,
      (a) to purchase any such primary obligation or any property constituting direct
      or indirect security therefor; (b) to advance or supply funds (i) for the
      purchase or payment of any such primary obligation or (ii) to maintain working
      capital or equity capital of the primary obligor or otherwise to maintain the
      net worth or solvency of the primary obligor; (c) 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; (d) with respect to bankers’ acceptances, letters of
      credit and similar credit arrangements, until a reimbursement obligation arises
      (which reimbursement obligation shall constitute Indebtedness); or (e) 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 or any product
      warranties.  The amount of any Contingent Obligation shall be deemed
      to be an amount equal to the stated or determinable amount of the primary
      obligation in respect of which such Contingent Obligation is made (or, if less,
      the maximum amount of such primary obligation for which such person may be
      liable, whether singly or jointly, pursuant to the terms of the instrument
      evidencing such Contingent Obligation) 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.

     

     

    “Control”
      shall mean the possession, directly or indirectly, of the power to direct or
      cause the direction of the management or policies of a person, whether through
      the ownership of voting securities, by contract or otherwise, and the terms
      “Controlling” and “Controlled” shall have
      meanings correlative thereto.

     

     

    “Control
      Agreement” shall have the meaning assigned to such term in the Security
      Agreement.

     

     

    “Convertible
      Senior Subordinated Note Agreement” shall mean the indenture pursuant
      to which the Convertible Senior Subordinated Notes are issued and the
      Convertible Senior Subordinated Notes as in effect on the date hereof and
      thereafter amended from time to time subject to the requirements of this
      Agreement.

     

     

    “Convertible
      Senior Subordinated Note Documents” shall mean the Convertible Senior
      Subordinated Notes, the Convertible Senior Subordinated Note Agreement, the
      Convertible Senior Subordinated Note Guarantees and all other documents executed
      and delivered with respect to the Convertible Senior Subordinated Notes or
      the
      Convertible Senior Subordinated Note Agreement.

     

     

    “Convertible
      Senior Subordinated Note Guarantees” shall mean the guarantees of the
      Subsidiary Guarantors pursuant to the Convertible Senior Subordinated Note
      Agreement.

     

     

    “Convertible
      Senior Subordinated Notes” shall mean Borrower’s 2.50% Convertible
      Senior Subordinated Notes due 2026 issued pursuant to the Convertible Senior
      Subordinated Note Agreement and the registered notes issued by Borrower in
      exchange for, and as contemplated by, such notes with substantially identical
      terms as such notes.

     

     

    “Credit
      Extension” shall mean, as the context may require, (i) the making of a
      Loan by a Lender or (ii) the issuance of any Letter of Credit, or the amendment,
      extension or renewal of any existing Letter of Credit, by the Issuing
      Bank.

     

     

    “Cumulative
      Equity Amount” shall mean, on any date of determination, an amount
      equal to the aggregate amount of Net Cash Proceeds in respect of the issuance
      and sale (to persons other than Companies) of Qualified Capital Stock of
      Borrower after the Closing Date to the extent that such Net Cash Proceeds shall
      have been actually received by Borrower on or prior to such date of
      determination.

     

     

    “Cumulative
      Excess Cash Flow Amount” shall mean, on any date of determination, an
      amount equal to the difference between (i) the sum of Excess Cash Flow for
      all
      Excess Cash Flow Periods ended prior to such date of determination that was
      not
      required to be applied to prepay the Loans pursuant to Section 2.10(f)
      (whether or not prepayments are accepted by Lenders) (provided that in
      the case of any Excess Cash Flow Period in respect of which the amount of Excess
      Cash Flow shall have been calculated as contemplated by Section 5.01(c)
      but the prepayment required pursuant to Section 2.10(f) is not yet due
      and payable in accordance with the provisions of Section 2.10(f) as of
      the date of determination, then the amount of prepayments that will be so
      required to be made in respect of such Excess Cash Flow shall be deemed to
      be
      made for purposes of this clause (i)), minus (ii) the sum of (x) to the
      extent such amounts were deducted from Excess Cash Flow in determining the
      amount of Excess Cash Flow required to be applied to prepay the Loans pursuant
      to Section 2.10(f) for any Excess Cash Flow Periods ended prior to such
      date of determination, the aggregate amount of any voluntary prepayments of
      Term
      Loans and any permanent voluntary reductions to the Revolving Commitments to
      the
      extent that an equal amount of the Revolving Loans was simultaneously repaid
      during the relevant Excess Cash Flow Periods, (y) the aggregate amount of
      payments, prepayments on or redemptions or acquisitions for value of,
      Indebtedness, made from and after the Closing Date under clause (z) of
Section 6.11(a) and (z) the aggregate amount of purchases in excess of
      $5.0 million made from and after the Closing Date under Section
      6.08(d).

     

     

    “Debt
      Issuance” shall mean the incurrence by Borrower or any of its
      Subsidiaries of any Indebtedness after the Closing Date (other than as permitted
      by Section 6.01).

     

     

    “Debt
      Service” shall mean, for any period, Cash Interest Expense for such
      period plus scheduled principal amortization of all Indebtedness for such
      period.

     

     

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

     

     

    “Default
      Rate” shall have the meaning assigned to such term in Section
      2.06(d).

     

     

    “Disqualified
      Capital Stock” shall mean any Equity Interest 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, (a) matures (excluding any
      maturity as the result of an optional redemption by the issuer thereof) or
      is
      mandatorily redeemable, pursuant to a sinking fund obligation or otherwise,
      or
      is redeemable at the option of the holder thereof, in whole or in part, on
      or
      prior to the first anniversary of the Final Maturity Date, (b) is convertible
      into or exchangeable (unless at the sole option of the issuer thereof) for
      (i)
      debt securities or (ii) any Equity Interests referred to in (a) above, in each
      case at any time on or prior to the first anniversary of the Final Maturity
      Date, or (c) contains any repurchase obligation which may come into effect
      prior
      to payment in full of all Obligations; provided, however, that
      any Equity Interests that would not constitute Disqualified Capital Stock but
      for provisions thereof giving holders thereof (or the holders of any security
      into or for which such Equity Interests is convertible, exchangeable or
      exercisable) the right to require the issuer thereof to redeem such Equity
      Interests upon the occurrence of a change in control or an asset sale occurring
      prior to the first anniversary of the Final Maturity Date shall not constitute
      Disqualified Capital Stock if such Equity Interests provide that the issuer
      thereof will not redeem any such Equity Interests pursuant to such provisions
      prior to the repayment in full of the Obligations.

     

     

    “Dividend”
      with respect to any person shall mean that such person has declared or paid
      a
      dividend or returned any equity capital to the holders of its Equity Interests
      or authorized or made any other distribution, payment or delivery of property
      (other than Qualified Capital Stock of such person) or cash to the holders
      of
      its Equity Interests as such, or redeemed, retired, purchased or otherwise
      acquired, directly or indirectly, for consideration any of its Equity Interests
      outstanding (or any options or warrants issued by such person with respect
      to
      its Equity Interests), or set aside any funds for any of the foregoing purposes,
      or shall have permitted any of its Subsidiaries to purchase or otherwise acquire
      for consideration any of the Equity Interests of such person outstanding (or
      any
      options or warrants issued by such person with respect to its Equity
      Interests).  Without limiting the foregoing, “Dividends” with respect
      to any person shall also include all payments made or required to be made by
      such person with respect to any stock appreciation rights, plans, equity
      incentive or achievement plans or any similar plans or setting aside of any
      funds for the foregoing purposes.

     

     

    “Documentation
      Agent” shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Dollar
      Equivalent” shall mean, (a) as to any amount denominated in an
      Alternate Currency as of any date of determination, the amount of Dollars that
      would be required to purchase the amount of such Alternate Currency based upon
      the Spot Selling Rate and (b) for the avoidance of doubt, as to any amount
      denominated in Dollars as of any date of determination, such
      amount.

     

     

    “Dollar
      Loan” shall mean each Loan denominated in Dollars.

     

     

    “DollarLC
      Exposure” shall mean at any time the sum of (a) the aggregate undrawn
      amount of all outstanding Dollar denominated Letters of Credit at such time
      plus (b) the aggregate principal amount of all Reimbursement
      Obligations payable in Dollars outstanding at such time.  The Dollar
      LC Exposure of any Revolving Lender at any time shall mean its Pro Rata
      Percentage of the aggregate Dollar LC Exposure at such time.

     

     

    “Dollar
      Revolving Loan” shall mean Dollar denominated revolving loans made by
      the Lenders to Borrower pursuant to Section 2.01(b).  Subject
      to Sections 2.11 and 2.12, each Dollar Revolving Loan shall be
      either an ABR Revolving Loan or a Eurocurrency Revolving Loan as Borrower may
      request pursuant to Section 2.03.

     

     

    “Dollar
      Term Commitment” shall mean, with respect to each Lender, the
      commitment, if any, of such Lender to make a Dollar Term Loan hereunder on
      the
      Closing Date in the amount set forth on Schedule I to the Lender Addendum
      executed and delivered by such Lender.  The aggregate amount of the
      Lenders’ Dollar Term Commitments is $605.1 million.

     

     

    “Dollar
      Term Lender” shall mean a Lender with a Dollar Term Commitment or an
      outstanding Dollar Term Loan.

     

     

    “Dollar
      Term Loan” shall mean the Dollar denominated term loans made by the
      Lenders to Borrower pursuant to Section 2.01(a)(i).  Subject to
Sections 2.11 and 2.12, each Dollar Term Loan shall be either an
      ABR Term Loan or a Eurocurrency Term Loan as Borrower may request pursuant
      to
Section 2.03.

     

     

    “Dollars”
      or “$” shall mean lawful money of the United
      States.

     

     

    “Domestic
      Subsidiary” shall mean any Subsidiary that is organized or existing
      under the laws of the United States, any state thereof or the District of
      Columbia.

     

     

    “ECF
      Percentage” shall have the meaning assigned to such term in Section
      2.10(f).

     

     

    “Eligible
      Assignee” shall mean (a) if the assignment does not include assignment
      of a Revolving Commitment, (i) any Lender, (ii) an Affiliate of any Lender,
      (iii) an Approved Fund and (iv) any other person approved by the Administrative
      Agent (such approval not to be unreasonably withheld or delayed) and (b) if
      the
      assignment includes assignment of a Revolving Commitment, (i) any Revolving
      Lender, (ii) an Affiliate of any Revolving Lender approved by each Issuing
      Bank
      (each such approval not to be unreasonably withheld or delayed), (iii) an
      Approved Fund of a Revolving Lender approved by each Issuing Bank (each such
      approval not to be unreasonably withheld or delayed) and (iv) any other person
      approved by the Administrative Agent, each Issuing Bank, the Swingline Lender
      and Borrower (each such approval not to be unreasonably withheld or delayed);
      provided that (x) no approval of Borrower shall be required during the
      continuance of a Default or prior to the completion of the primary syndication
      of the Commitments and Loans (as determined by the Arranger) and (y) “Eligible
      Assignee” shall not include Borrower or any of its Affiliates or Subsidiaries or
      any natural person.

     

     

    “Embargoed
      Person” shall have the meaning assigned to such term in Section
      6.20.

     

     

    “Environment”
      shall mean ambient air, indoor air, surface water and groundwater (including
      potable water, navigable water and wetlands), the land surface or subsurface
      strata, natural resources, the workplace or as otherwise defined in any
      Environmental Law.

     

     

    “Environmental
      Claim” shall mean any claim, notice, demand, order, action, suit,
      proceeding or other communication alleging liability for or obligation with
      respect to any investigation, remediation, removal, cleanup, response,
      corrective action, damages to natural resources, personal injury, property
      damage, fines, penalties or other costs resulting from, related to or arising
      out of (i) the presence, Release or threatened Release in or into the
      Environment of Hazardous Material at any location or (ii) any violation or
      alleged violation of any Environmental Law, and shall include any claim seeking
      damages, contribution, indemnification, cost recovery, compensation or
      injunctive relief resulting from, related to or arising out of the presence,
      Release or threatened Release of Hazardous Material or alleged injury or threat
      of injury to health, safety or the Environment.

     

     

    “Environmental
      Law” shall mean any and all present and future treaties, laws,
      statutes, ordinances, regulations, rules, decrees, orders, judgments, consent
      orders, consent decrees, code or other binding requirements, and the common
      law,
      relating to protection of public health or the Environment, the Release or
      threatened Release of Hazardous Material, natural resources or natural resource
      damages, or occupational safety or health, and any and all Environmental
      Permits.

     

     

    “Environmental
      Permit” shall mean any permit, license, approval, registration,
      notification, exemption, consent or other authorization required by or from
      a
      Governmental Authority under Environmental Law.

     

     

    “Equipment”
      shall have the meaning assigned to such term in the Security
      Agreement.

     

     

    “Equity
      Financing” shall mean the issuance by Borrower on March 1, 2007 of
      approximately 4.09 million shares of its common stock, no par value, for gross
      proceeds of $235.0 million.

     

     

    “Equity
      Interest” shall mean, with respect to any person, any and all shares,
      interests, participations or other equivalents, including membership interests
      (however designated, whether voting or nonvoting), of equity of such person,
      including, if such person is a partnership, partnership interests (whether
      general or limited) and any other interest or participation that confers on
      a
      person the right to receive a share of the profits and losses of, or
      distributions of property of, such partnership, whether outstanding on the
      date
      hereof or issued after the Closing Date, but excluding debt securities
      convertible or exchangeable into such equity.

     

     

    “ERISA”
      shall mean the Employee Retirement Income Security Act of 1974, as the same
      may
      be amended from time to time.

     

     

    “ERISA
      Affiliate” shall mean, with respect to any person, any trade or
      business (whether or not incorporated) that, together with such person, is
      treated as a single employer under Section 414(b) of the Code or, solely for
      purposes of the funding requirements of Section 412 of the Code or Section
      302
      of ERISA, Section 414(m) or (o) of the Code.

     

     

    “ERISA
      Event” shall mean (a) any “reportable event,” as defined in Section
      4043 of ERISA or the regulations issued thereunder, with respect to a Plan
      (other than an event for which the 30-day notice period is waived by statute,
      regulation or other legally binding action of a relevant Governmental
      Authority); (b) the existence with respect to any Plan of an “accumulated
      funding deficiency” (as defined in Section 412 of the Code or Section 302 of
      ERISA), whether or not waived; (c) the failure to make by its due date a
      required installment under Section 412(m) of the Code with respect to any Plan
      or the failure to make any required contribution to a Multiemployer Plan; (d)
      the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA
      of
      an application for a waiver of the minimum funding standard with respect to
      any
      Plan; (e) the incurrence by any Company or any of its ERISA Affiliates of any
      liability under Title IV of ERISA with respect to the termination of any Plan;
      (f) the receipt by any Company or any of its ERISA Affiliates from the PBGC
      or a
      plan administrator of any notice relating to the intention to terminate any
      Plan
      or Plans or to appoint a trustee to administer any Plan, or the occurrence
      of
      any event or condition which could reasonably be expected to constitute grounds
      under ERISA for the termination of, or the appointment of a trustee to
      administer, any Plan; (g) the incurrence by any Company or any of its ERISA
      Affiliates of any liability with respect to the withdrawal from any Plan or
      Multiemployer Plan; (h) the receipt by any Company or its ERISA Affiliates
      of
      any notice, concerning the imposition of Withdrawal Liability or a determination
      that a Multiemployer Plan is, or is expected to be, insolvent or in
      reorganization, within the meaning of Title IV of ERISA; (i) the “substantial
      cessation of operations” within the meaning of Section 4062(e) of ERISA with
      respect to a Plan; (j) the making of any amendment to any Plan which could
      result in the imposition of a lien or the posting of a bond or other security;
      and (k) the occurrence of a nonexempt prohibited transaction (within the meaning
      of Section 4975 of the Code or Section 406 of ERISA) which could reasonably
      be
      expected to result in liability to any Company.

     

     

    “EURIBOR
      Borrowing” shall mean a Borrowing comprised of EURIBOR
      Loans.

     

     

    “EURIBOR
      Loan” shall mean any EURIBOR Revolving Loan or EURIBOR Term
      Loan.

     

     

    “EURIBOR
      Rate” shall mean, with respect to any EURIBOR Borrowing for any
      Interest Period, the interest rate per annum determined by the Banking
      Federation of the European Union for deposits in Euros (for delivery on the
      first day of such Interest Period) with a term comparable to such Interest
      Period, determined as of approximately 11:00 a.m., Brussels time, on the second
      full TARGET Day preceding the first day of such Interest Period (as set forth
      by
      Reuters or any successor thereto or any other service selected by the
      Administrative Agent which has been nominated by the Banking Federation of
      the
      European Union as an authorized information vendor for the purpose of displaying
      such rates); provided, however, that (i) if no comparable term
      for an Interest Period is available, the EURIBOR Rate shall be determined using
      the weighted average of the offered rates for the two terms most nearly
      corresponding to such Interest Period and (ii) if the rate referenced above
      is
      not available, “EURIBOR Rate” shall mean, with respect to each day during each
      Interest Period pertaining to EURIBOR Borrowings comprising part of the same
      Borrowing, the rate per annum equal to the rate at which the Administrative
      Agent (or such other bank or banks as may be designated by the Administrative
      Agent in consultation with Borrower) is offered deposits in Euros at
      approximately 11:00 a.m., Brussels time, two TARGET Days prior to the first
      day
      of such Interest Period, for delivery on the first day of such Interest Period
      for the number of days comprised therein and in an amount comparable to its
      portion of the amount of such EURIBOR Borrowing to be outstanding during such
      Interest Period (or such other amount as the Administrative Agent may reasonably
      determine).

     

     

    “EURIBOR
      Revolving Borrowing” shall mean a Borrowing comprised of EURIBOR
      Revolving Loans.

     

     

    “EURIBOR
      Revolving Loan” shall mean any Revolving Loan bearing interest at a
      rate determined by reference to the Adjusted EURIBOR Rate in accordance with
      the
      provisions of Article II.

     

     

    “EURIBOR
      Term Borrowing” shall mean a Borrowing comprised of EURIBOR Term
      Loans.

     

     

    “EURIBOR
      Term Loan” shall mean any Term Loan bearing interest at a rate
      determined by reference to the Adjusted EURIBOR Rate in accordance with the
      provisions of Article II.

     

     

    “Euro”
      or “€” shall mean the single currency of the Participating
      Member States.

     

     

    “EuroLC
      Exposure” shall mean at any time the sum of (a) the aggregate undrawn
      amount of all outstanding Euro denominated Letters of Credit at such time
plus (b) the aggregate principal amount of all Reimbursement
      Obligations payable in Euros outstanding at such time.  The Euro LC
      Exposure of any Revolving Lender at any time shall mean its Pro Rata Percentage
      of the aggregate Euro LC Exposure at such time.

     

     

    “Euro
      Loan” shall mean each Loan denominated in Euros.

     

     

    “Euro
      Revolving Loan” shall mean Euro denominated revolving loans made by the
      Lenders to Borrower pursuant to Section 2.01(b).  Subject to
Sections 2.11 and 2.12, each Euro Revolving Loan shall be a
      EURIBOR Revolving Loan.

     

     

    “Euro
      Term Commitment” shall mean, with respect to each Lender, the
      commitment, if any, of such Lender to make a Euro Term Loan hereunder on the
      Closing Date in the amount set forth on Schedule I to the Lender Addendum
      executed and delivered by such Lender.  The aggregate amount of the
      Lenders’ Euro Term Commitments is €335.0 million.

     

     

    “Euro
      Term Lender” shall mean a Lender with a Euro Term Commitment or an
      outstanding Euro Term Loan.

     

     

    “Euro
      Term Loan” shall mean the Euro denominated term loans made by the
      Lenders to Borrower pursuant to Section 2.01(a)(ii).  Subject
      to Sections 2.11 and 2.12, each Euro Term Loan shall be a EURIBOR
      Term Loan.

     

     

    “Eurocurrency
      Borrowing” shall mean a Borrowing comprised of Eurocurrency
      Loans.

     

     

    “Eurocurrency
      Loan” shall mean any Eurocurrency Revolving Loan or Eurocurrency Term
      Loan.

     

     

    “Eurocurrency
      Revolving Borrowing” shall mean a Borrowing comprised of Eurocurrency
      Revolving Loans.

     

     

    “Eurocurrency
      Revolving Loan” shall mean any Revolving Loan bearing interest at a
      rate determined by reference to the Adjusted LIBOR Rate in accordance with
      the
      provisions of Article II.

     

     

    “Eurocurrency
      Term Borrowing” shall mean a Borrowing comprised of Eurocurrency Term
      Loans.

     

     

    “Eurocurrency
      Term Loan” shall mean any Term Loan bearing interest at a rate
      determined by reference to the Adjusted LIBOR Rate in accordance with the
      provisions of Article II.

     

     

    “Event
      of Default” shall have the meaning assigned to such term in Section
      8.01.

     

     

    “Excess
      Amount” shall have the meaning assigned to such term in Section
      2.10(g).

     

     

    “Excess
      Cash Flow” shall mean, for any Excess Cash Flow Period, Consolidated
      EBITDA for such Excess Cash Flow Period, minus, without
      duplication:

     

     

    (a)         Debt
      Service for such Excess Cash Flow Period;

     

     

    (b)  Capital
      Expenditures during such Excess Cash Flow Period (excluding Capital Expenditures
      made in such Excess Cash Flow Period where a certificate contemplated by the
      following clause (c) was previously delivered) that are paid in
      cash;

     

     

    (c)  Capital
      Expenditures that Borrower or any of its Subsidiaries shall, during such Excess
      Cash Flow Period, become obligated to make but that are not made during such
      Excess Cash Flow Period; provided that Borrower shall deliver a
      certificate to the Administrative Agent not later than 90 days after the end
      of
      such Excess Cash Flow Period, signed by a Responsible Officer of Borrower and
      certifying that such Capital Expenditures will be made in the following Excess
      Cash Flow Period;

     

     

    (d)  (i)
      an
      amount equal to 50% of the aggregate amount of investments made in cash during
      such period constituting Permitted Acquisitions and (ii) the aggregate amount
      of
      investments made in cash during such period constituting Investments permitted
      pursuant to Section 6.04(j);

     

     

    (e)  (i)
      taxes
      of Borrower and its Subsidiaries that were paid in cash during such Excess
      Cash
      Flow Period (excluding taxes paid in such Excess Cash Flow period where a
      certificate contemplated by clause (ii) has previously been delivered) or (ii)
      taxes of Borrower and its Subsidiaries that will be paid within six months
      after
      the end of such Excess Cash Flow Period and for which reserves have been
      established; provided that Borrower shall deliver a certificate to the
      Administrative Agent not later than 90 days after the end of such Excess Cash
      Flow Period, signed by a Responsible Officer of Borrower and certifying that
      such taxes will be paid within such six month period;

     

     

    (f)  the
      absolute value of the difference, if negative, of the amount of Net Working
      Capital at the end of the prior Excess Cash Flow Period (or, in the case of
      the
      Excess Cash Flow Period ending December 31, 2007, at the first day of such
      Excess Cash Flow Period) over the amount of Net Working Capital at the end
      of
      such Excess Cash Flow Period;

     

     

    (g)  losses
      excluded from the calculation of Consolidated Net Income by operation of clause
      (c) or (g) of the definition thereof that are paid in cash during such Excess
      Cash Flow Period; and

     

     

    (h)  to
      the
      extent added to determine Consolidated EBITDA, all items that did not result
      from a cash payment to Borrower or any of its Subsidiaries on a consolidated
      basis during such Excess Cash Flow Period;

     

     

    provided
      that any amount deducted pursuant to any of the foregoing clauses that will
      be
      paid after the close of such Excess Cash Flow Period shall not be deducted
      again
      in a subsequent Excess Cash Flow Period; plus, without
      duplication:

     

     

    (i)  the
      difference, if positive, of the amount of Net Working Capital at the end of
      the
      prior Excess Cash Flow Period (or, in the case of the Excess Cash Flow Period
      ending December 31, 2007, at the first day of such Excess Cash Flow Period)
      over
      the amount of Net Working Capital at the end of such Excess Cash Flow
      Period;

     

     

    (ii)  (1)
      all
      proceeds received during such Excess Cash Flow Period of (x) any equity issuance
      by Borrower or (y) any Indebtedness (other than Revolving Loans and Swingline
      Loans), in each case, to the extent used to finance any Investment permitted
      pursuant to Section 6.04(j) or any Capital Expenditure and (2) an amount
      equal to 50% of all proceeds received during such Excess Cash Flow Period of
      (x)
      any equity issuance by Borrower or (y) any Indebtedness (other than Revolving
      Loans and Swingline Loans), in each case, to the extent used to finance any
      Permitted Acquisition;

     

     

    (iii)  to
      the
      extent any permitted Capital Expenditures referred to in clause (c) above do
      not
      occur in the Excess Cash Flow Period specified in the certificate of Borrower
      provided pursuant to clause (c) above, such amounts of Capital Expenditures
      that
      were not so made in the Excess Cash Flow Period specified in such
      certificates;

     

     

    (iv)  to
      the
      extent any tax payments referred to in clause (e)(ii) above do not occur in
      the
      Excess Cash Flow Period specified in the certificate of Borrower provided
      pursuant to clause (e)(ii) above, such amounts of tax payments that were not
      so
      made in the Excess Cash Flow Period specified in such certificates;

     

     

    (v)  income
      or
      gain excluded from the calculation of Consolidated Net Income by operation
      of
      clause (c) or (g) of the definition thereof that is realized in cash during
      such
      Excess Cash Flow Period (except to the extent such gain is subject to Section
      2.10(c) or (e));

     

     

    (vi)  if
      deducted in the computation of Consolidated EBITDA, interest income;
      and

     

     

    (vii)  to
      the
      extent subtracted in determining Consolidated EBITDA, all items that did not
      result from a cash payment by Borrower or any of its Subsidiaries on a
      consolidated basis during such Excess Cash Flow Period.

     

     

    “Excess
      Cash Flow Period” shall mean (i) the period taken as one accounting
      period from May 1, 2007 and ending on December 31, 2007 and (ii) each fiscal
      year of Borrower thereafter.

     

     

    “Exchange
      Act” shall mean the Securities Exchange Act of 1934, as
      amended.

     

     

    “Excluded
      Stock Consideration” shall mean Acquisition Consideration consisting
      solely of Qualified Capital Stock of Borrower issued in connection with a
      Permitted Acquisition.  For the avoidance of doubt, it is expressly
      understood and agreed that Excluded Stock Consideration shall not be included
      in
      the Cumulative Equity Amount.

     

     

    “Excluded
      Taxes” shall mean, with respect to the Administrative Agent, any
      Lender, the Issuing Bank or any other recipient of any payment to be made by
      or
      on account of any obligation of Borrower hereunder, (a) taxes imposed on or
      measured by its overall net income (however denominated), franchise taxes
      imposed on it (in lieu of net income taxes) and branch profits taxes imposed
      on
      it, by a jurisdiction (or any political subdivision thereof) as a result of
      the
      recipient being organized or having its principal office or, in the case of
      any
      Lender, its applicable lending office in such jurisdiction and (b) in the case
      of a Foreign Lender, any U.S. federal withholding tax that (i) is imposed on
      amounts payable to such Foreign Lender at the time such Foreign Lender becomes
      a
      party hereto (or designates a new lending office), except (x) to the extent
      that
      such Foreign Lender (or its assignor, if any) was entitled, at the time of
      designation of a new lending office (or assignment), to receive additional
      amounts from Borrower with respect to such withholding tax pursuant to
Section 2.15(a) or (y) if such Foreign Lender is an assignee pursuant to
      a request by Borrower under Section 2.16; provided that this
      subclause (b)(i) shall not apply to any Tax imposed on a Lender in connection
      with an interest or participation in any Loan or other obligation that such
      Lender was required to acquire pursuant to Section 2.14(d), or (ii) is
      attributable to such Foreign Lender’s failure to comply with Section
      2.15(e).

     

     

    “Executive
      Order” shall have the meaning assigned to such term in Section
      3.22.

     

     

    “Existing
      Letters of Credit” shall mean each of the letters of credit identified
      on Schedule 1.01(c) issued by Wells Fargo, Mizuho or any of their
      respective Affiliates.

     

     

    “Existing
      Lien” shall have the meaning assigned to such term in Section
      6.02(c).

     

     

    “Existing
      Senior Subordinated Notes Documents” shall mean the Senior Subordinated
      Notes Documents and the Convertible Senior Subordinated Notes
      Documents.

     

     

    “Federal
      Funds Effective Rate” shall mean, for any day, the weighted average of
      the rates on overnight federal funds transactions with members of the Federal
      Reserve System of the United States arranged by federal funds brokers, as
      published on the next succeeding Business Day by the Federal Reserve Bank of
      New
      York, or, if such rate is not so published for any day that is a Business Day,
      the average of the quotations for the day for such transactions received by
      the
      Administrative Agent from three federal funds brokers of recognized standing
      selected by it.

     

     

    “Fees”
      shall mean the Commitment Fees, the Administrative Agent Fees, the LC
      Participation Fees and the Fronting Fees.

     

     

    “Final
      Maturity Date” shall mean the latest of the Revolving Maturity Date and
      the Term Loan Maturity Date.

     

     

    “Financial
      Officer” of any person shall mean the chief financial officer,
      principal accounting officer, treasurer or controller of such
      person.

     

     

    “FIRREA”
      shall mean the Federal Institutions Reform, Recovery and Enforcement Act of
      1989, as amended.

     

     

    “Foreign
      Acquisition” shall mean any transaction or series of related
      transactions for the direct or indirect (including through the acquisition
      of a
      person organized under the laws of the United States or any state thereof or
      the
      District of Columbia) (a) acquisition of all or substantially all of the
      property of any person, or of any business or division of any person; (b)
      acquisition of in excess of 50% of the Equity Interests of any person (and
      otherwise causing such person to become a Subsidiary of such person); or (c)
      merger or consolidation or any other combination with any person, whose
      principal assets and business are located in a jurisdiction other than, or
      that
      is organized under the laws of a jurisdiction other than, the United States
      or
      any state thereof or the District of Columbia; and provided that the
      term “Foreign Acquisition” shall include the portion of any such acquisition or
      investment in a person organized under the laws of the United States or any
      state thereof or the District of Columbia attributable to any property, business
      or division of such person located outside of the United States, based on the
      relative value thereof.

     

     

    “Foreign
      Lender” shall mean any Lender that is not, for United States federal
      income tax purposes, (i) an individual who is a citizen or resident of the
      United States, (ii) a corporation, partnership or other entity treated as a
      corporation or partnership created or organized in or under the laws of the
      United States, or any political subdivision thereof, (iii) an estate whose
      income is subject to U.S. federal income taxation regardless of its source
      or
      (iv) a trust if a court within the United States is able to exercise primary
      supervision over the administration of such trust and one or more United States
      persons have the authority to control all substantial decisions of such
      trust.

     

     

    “Foreign
      Plan” shall mean any employee benefit or retirement plan, program,
      policy, arrangement or agreement maintained or contributed to by any Company
      with respect to employees employed outside the United States.

     

     

    “Foreign
      Subsidiary” shall mean a Subsidiary that is organized under the laws of
      a jurisdiction other than the United States or any state thereof or the District
      of Columbia.

     

     

    “Fronting
      Fee” shall have the meaning assigned to such term in Section
      2.05(c).

     

     

    “Fund”
      shall mean any person that is (or will be) engaged in making, purchasing,
      holding or otherwise investing in commercial loans and similar extensions of
      credit in the ordinary course.

     

     

    “Funded
      Debt” shall mean, as to any person, all Indebtedness of such person
      that matures more than one year from the date of its creation or matures within
      one year from such date but is renewable or extendible, at the option of such
      person, to a date more than one year from such date or arises under a revolving
      credit or similar agreement that obligates the lender or lenders to extend
      credit during a period of more than one year from such date, including all
      current maturities and current sinking fund payments in respect of such
      Indebtedness whether or not required to be paid within one year from the date
      of
      its creation and, in the case of Borrower, Indebtedness in respect of the
      Loans.

     

     

    “GAAP”
      shall mean generally accepted accounting principles in the United States applied
      on a consistent basis.

     

     

    “GBP”
      or “£” shall mean lawful money of the United
      Kingdom.

     

     

    “GBPLC
      Exposure” shall mean at any time the sum of (a) the aggregate undrawn
      amount of all outstanding GBP denominated Letters of Credit at such time
plus (b) the aggregate principal amount of all Reimbursement
      Obligations payable in GBP outstanding at such time.  The GBP LC
      Exposure of any Revolving Lender at any time shall mean its Pro Rata Percentage
      of the aggregate GBP LC Exposure at such time.

     

     

    “GBP
      Loan” shall mean each Loan denominated in GBP.

     

     

    “GBP
      Revolving Loan” shall mean GBP denominated revolving loans made by the
      Lenders to Borrower pursuant to Section 2.01(b).  Subject to
Sections 2.11 and 2.12, each GBP Revolving Loan shall be a
      Eurocurrency Revolving Loan.

     

     

    “GBP
      Term Commitment” shall mean, with respect to each Lender, the
      commitment, if any, of such Lender to make a GBP Term Loan hereunder on the
      Closing Date in the amount set forth on Schedule I to the Lender Addendum
      executed and delivered by such Lender.  The aggregate amount of the
      Lenders’ GBP Term Commitments is £50.0 million.

     

     

    “GBP
      Term Lender” shall mean a Lender with a GBP Term Commitment or an
      outstanding GBP Term Loan.

     

     

    “GBP
      Term Loan” shall mean the GBP denominated term loans made by the
      Lenders to Borrower pursuant to Section 2.01(a)(iii).  Subject
      to Sections 2.11 and 2.12, each GBP Term Loan shall be a
      Eurocurrency Term Loan.

     

     

    “Governmental
      Authority” shall mean the government of the United States or any other
      nation, or of any political subdivision thereof, whether state, provincial
      or
      local, and any agency, authority, instrumentality, regulatory body, court,
      central bank or other entity exercising executive, legislative, judicial,
      taxing, regulatory or administrative powers or functions of or pertaining to
      government (including any supra-national bodies such as the European Union
      or
      the European Central Bank).

     

     

    “Governmental
      Real Property Disclosure Requirements” shall mean any Requirement of
      Law of any Governmental Authority requiring notification of the buyer, lessee,
      mortgagee, assignee or other transferee of any Real Property, facility,
      establishment or business, or notification, registration or filing to or with
      any Governmental Authority, in connection with the sale, lease, mortgage,
      assignment or other transfer (including any transfer of control) of any Real
      Property, facility, establishment or business, of the actual or threatened
      presence or Release in or into the Environment, or the use, disposal or handling
      of Hazardous Material on, at, under or near the Real Property, facility,
      establishment or business to be sold, leased, mortgaged, assigned or
      transferred.

     

     

    “Guaranteed
      Obligations” shall have the meaning assigned to such term in Section
      7.01.

     

     

    “Guarantees”
      shall mean the guarantees issued pursuant to Article VII by the
      Subsidiary Guarantors.

     

     

    “Hazardous
      Materials” shall mean the following:  hazardous substances;
      hazardous wastes; polychlorinated biphenyls (“PCBs”) or any
      substance or compound containing PCBs; asbestos or any asbestos-containing
      materials in any form or condition; radon or any other radioactive materials
      including any source, special nuclear or by-product material; petroleum, crude
      oil or any fraction thereof; and any other pollutant or contaminant or
      chemicals, wastes, materials, compounds, constituents or substances, subject
      to
      regulation or which can give rise to liability under any Environmental
      Laws.

     

     

    “Hedging
      Agreement” shall mean any swap, cap, collar, forward purchase or
      similar agreements or arrangements dealing with interest rates, currency
      exchange rates or commodity prices, either generally or under specific
      contingencies.

     

     

    “Hedging
      Obligations” shall mean obligations under or with respect to Hedging
      Agreements.

     

     

    “Immaterial
      Subsidiaries” shall mean direct and indirect Subsidiaries of Borrower
      that represent, individually, less than 5%, and in the aggregate, less than
      10%,
      of gross revenues of Borrower and its Subsidiaries, on a consolidated
      basis.

     

     

    “Indebtedness”
      of any person shall mean, without duplication, (a) all obligations of such
      person for borrowed money or advances; (b) all obligations of such person
      evidenced by bonds, debentures, notes or similar instruments; (c) all
      obligations of such person upon which interest charges are customarily paid
      or
      accrued; (d) all obligations of such person under conditional sale or other
      title retention agreements relating to property purchased by such person; (e)
      all obligations of such person issued or assumed as the deferred purchase price
      of property or services (excluding trade accounts payable and accrued
      obligations incurred in the ordinary course of business on normal trade terms
      and not overdue by more than 90 days); (f) all Indebtedness of others secured
      by
      any Lien on property owned or acquired by such person, whether or not the
      obligations secured thereby have been assumed, but limited to the fair market
      value of such property; (g) all Capital Lease Obligations, Purchase Money
      Obligations and synthetic lease obligations of such person; (h) all Hedging
      Obligations to the extent required to be reflected on a balance sheet of such
      person; (i) all Attributable Indebtedness of such person; (j) all obligations
      of
      such person for the reimbursement of any obligor in respect of letters of
      credit, letters of guaranty, bankers’ acceptances and similar credit
      transactions; and (k) all Contingent Obligations of such person in respect
      of
      Indebtedness or obligations of others of the kinds referred to in clauses (a)
      through (j) above.  The Indebtedness of any person shall include the
      Indebtedness of any other entity (including any partnership in which such person
      is a general partner) to the extent such person is liable therefor as a result
      of such person’s ownership interest in or other relationship with such entity,
      except (other than in the case of general partner liability) to the extent
      that
      terms of such Indebtedness expressly provide that such person is not liable
      therefor.

     

     

    “Indemnified
      Taxes” shall mean all Taxes other than Excluded Taxes.

     

     

    “Indemnitee”
      shall have the meaning assigned to such term in Section
      10.03(b).

     

     

    “Information”
      shall have the meaning assigned to such term in Section
      10.12.

     

     

    “Insurance
      Policies” shall mean the insurance policies and coverages required to
      be maintained by each Loan Party which is an owner of Mortgaged Property with
      respect to the applicable Mortgaged Property pursuant to Section 5.04 and
      all renewals and extensions thereof.

     

     

    “Insurance
      Requirements” shall mean, collectively, all provisions of the Insurance
      Policies, all requirements of the issuer of any of the Insurance Policies and
      all orders, rules, regulations and any other requirements of the National Board
      of Fire Underwriters (or any other body exercising similar functions) binding
      upon each Loan Party which is an owner of Mortgaged Property and applicable
      to
      the Mortgaged Property or any use or condition thereof.

     

     

    “Intellectual
      Property” shall have the meaning assigned to such term in Section
      3.06(a).

     

     

    “Interbank
      Rate” means, for any period, with respect to (a) any amount denominated
      in Dollars, the greater of the Federal Funds Effective Rate and a rate
      determined by the Administrative Agent in accordance with banking industry
      rules
      on interbank compensation, (b) any amount denominated in Euros, the cost to
      the
      Administrative Agent of acquiring overnight funds in Euros and (c) any amount
      denominated in GBP, the cost to the Administrative Agent of acquiring overnight
      funds in GBP.

     

     

    “Intercompany
      Note” shall mean a promissory note substantially in the form of
Exhibit P, or in such other form as may be agreed by the Administrative
      Agent in its sole discretion.

     

     

    “Interest
      Election Request” shall mean a request by Borrower to convert or
      continue a Revolving Borrowing or Term Borrowing in accordance with Section
      2.08(b), substantially in the form of Exhibit E.

     

     

    “Interest
      Payment Date” shall mean (a) with respect to any ABR Loan (including
      Swingline Loans), the last Business Day of each March, June, September and
      December to occur during any period in which such Loan is outstanding, (b)
      with
      respect to any Eurocurrency Loan or EURIBOR Loan, the last day of the Interest
      Period applicable to the Borrowing of which such Loan is a part and (i) in
      the
      case of a Eurocurrency Loan that is a Dollar Loan with an Interest Period of
      more than three months’ duration, each day prior to the last day of such
      Interest Period that occurs at intervals of three months’ duration after the
      first day of such Interest Period, (ii) in the case of a Eurocurrency Loan
      that
      is a GBP Loan with an Interest Period of more than six months’ duration, each
      day prior to the last day of such Interest Period that occurs at intervals
      of
      six months’ duration after the first day of such Interest Period and (iii) in
      the case of a EURIBOR Loan with an Interest Period of more than six months’
duration, each day prior to the last day of such Interest Period that occurs
      at
      intervals of six months’ duration after the first day of such Interest Period,
      (c) with respect to any Revolving Loan or Swingline Loan, the Revolving Maturity
      Date or such earlier date on which the Revolving Commitments are terminated
      and
      (d) with respect to any Term Loan, the Term Loan Maturity Date, as the case
      may
      be.

     

     

    “Interest
      Period” shall mean, with respect to any Eurocurrency Borrowing or
      EURIBOR Borrowing, the period commencing on the date of such Borrowing and
      ending on the numerically corresponding day in the calendar month that is one,
      two, three or six months (or, if each affected Lender so agrees, nine months)
      thereafter, as Borrower may elect; provided that (a) if any Interest
      Period would end on a day other than a Business Day, such Interest Period shall
      be extended to the next succeeding Business Day unless such next succeeding
      Business Day would fall in the next calendar month, in which case such Interest
      Period shall end on the next preceding Business Day, (b) any Interest Period
      that commences on the last Business Day of a calendar month (or on a day for
      which there is no numerically corresponding day in the last calendar month
      of
      such Interest Period) shall end on the last Business Day of the last calendar
      month of such Interest Period, (c) Borrower shall not select an Interest Period
      that would extend beyond the Revolving Maturity Date (in the case of Revolving
      Loans) or beyond the Term Loan Maturity Date (in the case of Term Loans), (d)
      Borrower shall not select Interest Periods so as to require a payment or
      prepayment of any Eurocurrency Loan or EURIBOR Loan during an Interest Period
      for such Loan and (e) any Eurocurrency Borrowings or EURIBOR Borrowings made
      or
      continued during the period ending on the earlier of (x) six months following
      the Closing Date and (y) the completion of the primary syndication of the
      Commitments and Loans (as determined by the Arranger), shall have an Interest
      Period of one month.  For purposes hereof, the date of a Borrowing
      initially shall be the date on which such Borrowing is made and thereafter
      shall
      be the effective date of the most recent conversion or continuation of such
      Borrowing.

     

     

    “Investments”
      shall have the meaning assigned to such term in Section
      6.04.

     

     

    “Issuing
      Bank” shall mean, as the context may require, (a) Wells Fargo or any
      Affiliate thereof, in its capacity as issuer of Letters of Credit and any
      Existing Letters of Credit issued by it; (b) Mizuho or any Affiliate thereof,
      in
      its capacity as issuer of Letters of Credit and any Existing Letters of Credit
      issued by it; (c) any other Lender that may become an Issuing Bank pursuant
      to
Sections 2.18(j) and (k) in its capacity as issuer of Letters of
      Credit issued by such Lender; or (d) collectively, all of the
      foregoing.

     

     

    “Issuing
      Country” shall have the meaning assigned to such term in Section
      10.19(a).

     

     

    “Itron
      Acquisition Company” shall mean Itron Acquisition Company S. à r.l., a
      Luxembourg private limited liability company, having its registered office
      at
      L-2086 Luxembourg, 23, avenue Monterey.

     

     

    “Joinder
      Agreement” shall mean a joinder agreement substantially in the form of
Exhibit F.

     

     

    “Judgment
      Currency” shall have the meaning assigned to such term in Section
      10.18(a).

     

     

    “Judgment
      Currency Conversion Date” shall have the meaning assigned to such term
      in Section 10.18(a).

     

     

    “Landlord
      Access Agreement” shall mean a Landlord Access Agreement, substantially
      in the form of Exhibit G, or such other form as may reasonably be
      acceptable to the Administrative Agent.

     

     

    “LC
      Commitment” shall mean the commitment of each Issuing Bank to issue
      Letters of Credit pursuant to Section 2.18.  The aggregate
      amount of the LC Commitment shall initially be $100.0 million, but in no event
      exceed the Revolving Commitment.

     

     

    “LC
      Disbursement” shall mean a payment or disbursement made by the Issuing
      Bank pursuant to a drawing under a Letter of Credit.

     

     

    “LC
      Exposure” shall mean at any time the sum of (a) the Dollar Equivalent
      of the aggregate undrawn amount of all outstanding Letters of Credit at such
      time plus (b) the Dollar Equivalent of the aggregate principal amount
      of all Reimbursement Obligations outstanding at such time.  The LC
      Exposure of any Revolving Lender at any time shall mean its Pro Rata Percentage
      of the aggregate LC Exposure at such time.

     

     

    “LC
      Participation Fee” shall have the meaning assigned to such term in
Section 2.05(c).

     

     

    “LC
      Request” shall mean a request by Borrower in accordance with the terms
      of Section 2.18(b) and substantially in the form of Exhibit H, or
      such other form as shall be approved by the Administrative Agent.

     

     

    “Leases”
      shall mean any and all leases, subleases, tenancies, options, concession
      agreements, rental agreements, occupancy agreements, franchise agreements,
      access agreements and any other agreements (including all amendments,
      extensions, replacements, renewals, modifications and/or guarantees thereof),
      whether or not of record and whether now in existence or hereafter entered
      into,
      affecting the use or occupancy of all or any portion of any Real
      Property.

     

     

    “Lender
      Addendum” shall mean with respect to any Lender on the Closing Date, a
      lender addendum in the form of Exhibit I, to be executed and delivered by
      such Lender on the Closing Date as provided in Section
      10.15.

     

     

    “Lenders”
      shall mean (a) the banks, financial institutions and other entities that have
      become a party hereto pursuant to a Lender Addendum and (b) any bank, financial
      institution or other entity that has become a party hereto pursuant to an
      Assignment and Assumption, other than, in each case, any such bank, financial
      institution or other entity that has ceased to be a party hereto pursuant to
      an
      Assignment and Assumption.  Unless the context clearly indicates
      otherwise, the term “Lenders” shall include the Swingline
      Lender.

     

     

    “Letter
      of Credit” shall mean any (i) Standby Letter of Credit and (ii)
      Commercial Letter of Credit, in each case, issued or to be issued by an Issuing
      Bank for the account of Borrower pursuant to Section 2.18.

     

     

    “Letter
      of Credit Expiration Date” shall mean the date which is fifteen days
      prior to the Revolving Maturity Date or, if such date is not a Business Day,
      the
      immediately preceding Business Day.

     

     

    “LIBOR
      Rate” shall mean, with respect to any Eurocurrency Borrowing for any
      Interest Period, the interest rate per annum determined by the Administrative
      Agent to be the arithmetic mean of the offered rates for deposits in the
      relevant Approved Currency (for delivery on the first day of such Interest
      Period) with a term comparable to such Interest Period that appears on the
      Telerate British Bankers Assoc. Interest Settlement Rates Page (as defined
      below) (or as set forth on the applicable page of any successor service or
      any
      other service selected by the Administrative Agent which has been nominated
      by
      the British Bankers’ Association as an authorized information vendor for the
      purpose of displaying such rates) at approximately 11:00 a.m., London, England
      time, on the second full Business Day preceding the first day of such Interest
      Period; provided, however, that (i) if no comparable term for
      an Interest Period is available, the LIBOR Rate shall be determined using the
      weighted average of the offered rates for the two terms most nearly
      corresponding to such Interest Period and (ii) if the rate referenced above
      is
      not available, “LIBOR Rate” shall mean, with respect to each day during each
      Interest Period pertaining to Eurocurrency Borrowings comprising part of the
      same Borrowing, the rate per annum equal to the rate at which the Administrative
      Agent is offered deposits in the relevant Approved Currency at approximately
      11:00 a.m., London, England time, two Business Days prior to the first day
      of
      such Interest Period in the London interbank market for delivery on the first
      day of such Interest Period for the number of days comprised therein and in
      an
      amount comparable to its portion of the amount of such Eurocurrency Borrowing
      to
      be outstanding during such Interest Period (or such other amount as the
      Administrative Agent shall reasonably determine).  “Telerate
      British Bankers Assoc. Interest Settlement Rates Page” shall mean the
      display designated as Page 3750 (or other appropriate page if the relevant
      Approved Currency does not appear on such page) on the Telerate System
      Incorporated Service (or such other page as may replace such page on such
      service for the purpose of displaying the rates at which the relevant Approved
      Currency deposits are offered by leading banks in the London interbank deposit
      market).

     

     

    “Lien”
      shall mean, with respect to any property, (a) any mortgage, deed of trust,
      lien,
      pledge, encumbrance, claim, charge, assignment, hypothecation, security interest
      or encumbrance of any kind or any arrangement to provide priority or preference
      or any filing of any financing statement under the UCC or any other similar
      notice of lien under any similar notice or recording statute of any Governmental
      Authority, including any easement, right-of-way or other encumbrance on title
      to
      Real Property, in each of the foregoing cases whether voluntary or imposed
      by
      law, and any agreement to give any of the foregoing; (b) the interest of a
      vendor or a lessor under any conditional sale agreement, capital lease or title
      retention agreement (or any financing lease having substantially the same
      economic effect as any of the foregoing) relating to such property; and (c)
      in
      the case of securities, any purchase option, call or similar right of a third
      party with respect to such securities.

     

     

    “Loan
      Documents” shall mean this Agreement, the Letters of Credit, the Notes
      (if any), and the Security Documents and, solely for purposes of paragraph
      (e)
      of Section 8.01, the confidential Fee Letter, dated February 23, 2007,
      among Borrower, UBS Loan Finance LLC and UBS Securities LLC.

     

     

    “Loan
      Parties” shall mean Borrower and the Subsidiary
      Guarantors.

     

     

    “Loans”
      shall mean, as the context may require, a Revolving Loan, a Term Loan or a
      Swingline Loan.

     

     

    “Local
      Time” means, with respect to (a) any Dollar Loans or any other
      Obligations or Letters of Credit denominated in Dollars, New York City time
      and
      (b) any Alternate Currency Loans or any other Obligations or Letters of Credit
      denominated in an Alternate Currency, London time.

     

     

    “Mandatory
      Cost” shall mean the per annum percentage rate calculated by the
      Administrative Agent in accordance with Annex III (Mandatory Cost
      Formula).

     

     

    “Margin
      Stock” shall have the meaning assigned to such term in Regulation
      U.

     

     

    “Material
      Adverse Effect” shall mean (a) for purposes of the representation in
      the last sentence of Section 3.04(b) on the Closing Date only, any event,
      change, circumstance, development, effect or state of facts that is or could
      reasonably be expected to be materially adverse to the business, financial
      condition, operations, assets, liabilities or results of operations of the
      Acquired Business and its subsidiaries, taken as a whole (provided,
      however, that for such purposes, Material Adverse Effect shall not include
      the
      effect of any circumstance, change, development, event or state of facts arising
      out of or attributable to any of the following, either alone or in
      combination:  (i) the markets in which the Acquired Business and its
      subsidiaries operate generally (so long as the Acquired Business and its
      subsidiaries are not disproportionately affected thereby); or (ii) general
      economic or political conditions (including those affecting the securities
      markets) (so long as the Acquired Business and its subsidiaries are not
      disproportionately affected thereby)) and (b) for all other purposes, (i) a
      material adverse effect on the business, property, results of operations,
      prospects or condition, financial or otherwise, or material agreements of
      Borrower and its Subsidiaries, taken as a whole; (ii) material impairment of
      the
      ability of Borrower or the Subsidiary Guarantors, taken as a whole, to fully
      and
      timely perform any of their obligations under any Loan Document; (iii) material
      impairment of the rights of or benefits or remedies available to the Lenders
      or
      the Collateral Agent under any Loan Document; or (iv) a material adverse effect
      on the Collateral or the Liens in favor of the Collateral Agent (for its benefit
      and for the benefit of the other Secured Parties) on the Collateral or the
      priority of such Liens.

     

     

    “Material
      Indebtedness” shall mean (a) Indebtedness under the Existing Senior
      Subordinated Notes Documents (or any refinancings of any thereof permitted
      under
Section 6.01(b)(ii)) and (b) any other Indebtedness (other than the Loans
      and Letters of Credit) or Hedging Obligations of Borrower or any of its
      Subsidiaries in an aggregate outstanding principal amount exceeding $25.0
      million.  For purposes of determining Material Indebtedness, the
“principal amount” in respect of any Hedging Obligations of any Loan Party at
      any time shall be the maximum aggregate amount (giving effect to any netting
      agreements) that such Loan Party would be required to pay if the related Hedging
      Agreement were terminated at such time.

     

     

    “Maximum
      Rate” shall have the meaning assigned to such term in Section
      10.14.

     

     

    “Mizuho”
      shall mean Mizuho Corporate Bank, Ltd.

     

     

    “Mortgage”
      shall mean an agreement, including, but not limited to, a mortgage, deed of
      trust or any other document, creating and evidencing a Lien on a Mortgaged
      Property, which shall be substantially in the form of Exhibit J or other
      form reasonably satisfactory to the Collateral Agent, in each case, with such
      schedules and including such provisions as shall be necessary to conform such
      document to applicable local or foreign law or as shall be customary under
      applicable local or foreign law.

     

     

    “Mortgaged
      Property” shall mean (a) each Real Property identified as a Mortgaged
      Property on Schedule 8(a) to the Perfection Certificate dated the Closing
      Date and (b) each Real Property, if any, which shall be subject to a Mortgage
      delivered after the Closing Date pursuant to Section
      5.10(c).

     

     

    “Multiemployer
      Plan” shall mean a multiemployer plan within the meaning of Section
      4001(a)(3) of ERISA (a) to which any Company or any of its ERISA Affiliates
      is
      then making or accruing an obligation to make contributions; (b) to which any
      Company or any of its ERISA Affiliates has within the preceding five plan years
      made contributions; or (c) with respect to which any Company could incur
      liability.

     

     

    “Net
      Cash Proceeds” shall mean:

     

     

    (a)         with
      respect to any Asset Sale (other than any issuance or sale of Equity Interests),
      the cash proceeds received by Borrower or any of its Subsidiaries (including
      cash proceeds subsequently received (as and when received by Borrower or any
      of
      its Subsidiaries) in respect of non-cash consideration initially received)
      net
      of (i) selling expenses (including reasonable brokers’ fees or commissions,
      legal, accounting and other professional and transactional fees, transfer and
      similar taxes and Borrower’s good faith estimate of income taxes paid or payable
      in connection with such sale, taking into account the reduction in tax liability
      resulting from any available operating losses and net operating loss carryovers,
      tax credits and tax credit carry-forwards and similar tax attributes); (ii)
      amounts provided as a reserve, in accordance with GAAP, against (x) any
      liabilities under any indemnification obligations associated with such Asset
      Sale or (y) any other liabilities retained by Borrower or any of its
      Subsidiaries associated with the properties sold in such Asset Sale
      (provided that, to the extent and at the time any such amounts are
      released from such reserve, such amounts shall constitute Net Cash Proceeds);
      (iii) Borrower’s good faith estimate of payments required to be made with
      respect to unassumed liabilities relating to the properties sold within 90
      days
      of such Asset Sale (provided that, to the extent such cash proceeds are
      not used to make payments in respect of such unassumed liabilities within 90
      days of such Asset Sale, such cash proceeds shall constitute Net Cash Proceeds);
      and (iv) the principal amount, premium or penalty, if any, interest and other
      amounts on any Indebtedness for borrowed money which is secured by a Lien on
      the
      properties sold in such Asset Sale (so long as such Lien was permitted to
      encumber such properties under the Loan Documents at the time of such sale)
      and
      which is repaid with such proceeds (other than the Loans and any such
      Indebtedness assumed by the purchaser of such properties);

     

     

    (b)  with
      respect to any Debt Issuance or issuance of Equity Interests by Borrower or
      any
      of its Subsidiaries or any sale of Equity Interests by Borrower or any of its
      Subsidiaries, the cash proceeds thereof, net of customary fees, commissions,
      costs and other expenses incurred in connection therewith; and

     

     

    (c)  with
      respect to any Casualty Event, the cash insurance proceeds, condemnation awards
      and other compensation received by Borrower or any of its Subsidiaries in
      respect thereof, net of (i) all reasonable costs and expenses incurred in
      connection with the collection of such proceeds, awards or other compensation
      in
      respect of such Casualty Event; and (ii) the principal amount, premium or
      penalty, if any, interest and other amounts on any Indebtedness for borrowed
      money which is secured by a Lien on the properties subject to such Casualty
      Event (so long as such Lien was permitted to encumber such properties under
      the
      Loan Documents at the time of such sale) and which is repaid with such proceeds
      (other than the Loans).

     

     

    “Net
      Working Capital” shall mean, at any time, Consolidated Current Assets
      at such time minus Consolidated Current Liabilities at such time.

     

     

    “Notes”
      shall mean any notes evidencing the Dollar Term Loans, Euro Term Loans, GBP
      Term
      Loans, Revolving Loans or Swingline Loans issued pursuant to this Agreement,
      if
      any, substantially in the form of Exhibit K-1, K-2, K-3,
K-4 or K-5.

     

     

    “Obligation
      Currency” shall have the meaning assigned to such term in Section
      10.18(a).

     

     

    “Obligations”
      shall mean (a) obligations of Borrower and the other Loan Parties from time
      to
      time arising under or in respect of the due and punctual payment of (i) the
      principal of and premium, if any, and interest (including interest accruing
      during the pendency of any bankruptcy, insolvency, receivership or other similar
      proceeding, regardless of whether allowed or allowable in such proceeding)
      on
      the Loans, when and as due, whether at maturity, by acceleration, upon one
      or
      more dates set for prepayment or otherwise, (ii) each payment required to be
      made by Borrower and the other Loan Parties under this Agreement in respect
      of
      any Letter of Credit, when and as due, including payments in respect of
      Reimbursement Obligations, interest thereon and obligations to provide cash
      collateral and (iii) all other monetary obligations, including fees, costs,
      expenses and indemnities, whether primary, secondary, direct, contingent, fixed
      or otherwise (including monetary obligations incurred during the pendency of
      any
      bankruptcy, insolvency, receivership or other similar proceeding, regardless
      of
      whether allowed or allowable in such proceeding), of Borrower and the other
      Loan
      Parties under this Agreement and the other Loan Documents, and (b) the due
      and
      punctual performance of all covenants, agreements, obligations and liabilities
      of Borrower and the other Loan Parties under or pursuant to this Agreement
      and
      the other Loan Documents.

     

     

    “OFAC”
      shall have the meaning assigned to such term in Section
      3.22.

     

     

    “Officer’s
      Certificate” shall mean a certificate executed by the chairman of the
      Board of Directors (if an officer), the chief executive officer, the president
      or one of the Financial Officers, in his or her official (and not individual)
      capacity.

     

     

    “Organizational
      Documents” shall mean, with respect to any person, (i) in the case of
      any corporation, the certificate of incorporation and by-laws (or similar
      documents) of such person, (ii) in the case of any limited liability company,
      the certificate of formation and operating agreement (or similar documents)
      of
      such person, (iii) in the case of any limited partnership, the certificate
      of
      formation and limited partnership agreement (or similar documents) of such
      person, (iv) in the case of any general partnership, the partnership agreement
      (or similar document) of such person and (v) in any other case, the functional
      equivalent of the foregoing.

     

     

    “Other
      Taxes” shall mean all present or future stamp or documentary taxes or
      any other excise or property taxes, charges or similar levies arising from
      any
      payment made hereunder or under any other Loan Document or from the execution,
      delivery or enforcement of, or otherwise with respect to, this Agreement or
      any
      other Loan Document.

     

     

    “Outsourcing
      Project” shall mean a project under which an Outsourcing Project
      Subsidiary operates a meter reading system constructed by Borrower or its
      Subsidiaries consisting of hardware and software within the service territory
      of
      a utility or the equivalent and enters into or succeeds to a contract with
      such
      Person for the construction or operation of the meter reading system and
      long-term operations and maintenance thereof for a price to be paid as output
      is
      delivered.

     

     

    “Outsourcing
      Project Assets” shall mean, with respect to any Outsourcing Project
      Subsidiary described in clause (a) of the definition thereof, (a) any assets
      employed in the operation of an Outsourcing Project which are owned by such
      Outsourcing Project Subsidiary, including the hardware and software components
      of the meter reading system that comprise the related Outsourcing Project,
      together with the rights to intellectual property and licenses necessary to
      operate and maintain the meter reading system, the trade and contract
      receivables arising from the Outsourcing Project Subsidiary’s performance under
      the contracts relating to the Outsourcing Project and the contracts relating
      to
      the Outsourcing Project themselves and (b) the Equity Interests of such
      Outsourcing Project Subsidiary.

     

     

    “Outsourcing
      Project Debt Documentation” shall mean all documentation, including any
      loan agreement and any security agreement, executed by any Loan Party or any
      Outsourcing Project Subsidiary in connection with the incurrence of any
      Indebtedness permitted by Section 6.01(m).

     

     

    “Outsourcing
      Project Guarantee” shall mean, with respect to any Outsourcing Project
      Indebtedness permitted by Section 6.01(m), an unsecured Contingent
      Obligation in respect of such Outsourcing Project Indebtedness which is
      contingent upon either (a) the failure of Borrower or the Outsourcing Project
      Subsidiary to perform its obligations under the contracts entered into with
      respect to the related Outsourcing Project or (b) a payment default by the
      Outsourcing Project Subsidiary of its obligations with respect to such
      Outsourcing Project Indebtedness.

     

     

    “Outsourcing
      Project Indebtedness” shall mean Indebtedness incurred by an
      Outsourcing Project Subsidiary as to which (a) neither Borrower nor any of
      its
      other Subsidiaries: (i) provides credit support of any kind (including any
      undertaking, agreement or instrument that would constitute Indebtedness) other
      than an Outsourcing Project Guarantee, (ii) is directly or indirectly liable
      as
      a guarantor or otherwise other than through an Outsourcing Project Guarantee,
      or
      (iii) constitutes the lender; and (b) the lenders thereof have no recourse
      to
      the stock or assets of Borrower or any of its Subsidiaries other than the
      Outsourcing Project Assets of such Outsourcing Project Subsidiary and other
      than
      by enforcement of the Outsourcing Project Guarantee against
      Borrower.

     

     

    “Outsourcing
      Project Subsidiary” shall mean (a) a special purpose Wholly Owned
      Subsidiary of Borrower formed for the purpose of obtaining financing for an
      Outsourcing Project and (b) any holding company whose sole asset is the Equity
      Interests of Outsourcing Project Subsidiaries.

     

     

    “Participant”
      shall have the meaning assigned to such term in Section
      10.04(d).

     

     

    “Participating
      Member States” shall mean the member states of the European Communities
      that adopt or have adopted the Euro as their lawful currency in accordance
      with
      the legislation of the European Union relating to European Monetary
      Union.

     

     

    “PBGC”
      shall mean the Pension Benefit Guaranty Corporation referred to and defined
      in
      ERISA.

     

     

    “Perfection
      Certificate” shall mean a certificate in the form of Exhibit L-1
      or any other form approved by the Collateral Agent, as the same shall be
      supplemented from time to time by a Perfection Certificate Supplement or
      otherwise.

     

     

    “Perfection
      Certificate Supplement” shall mean a certificate supplement in the form
      of Exhibit L-2 or any other form approved by the Collateral
      Agent.

     

     

    “Permitted
      Acquisition” shall mean any transaction or series of related
      transactions for the direct or indirect (a) acquisition of all or substantially
      all of the property of any person, or of any business or division of any person;
      (b) acquisition of in excess of 50% of the Equity Interests of any person,
      and
      otherwise causing such person to become a Subsidiary of such person; or (c)
      merger or consolidation or any other combination with any person, if each of
      the
      following conditions is met:

     

     

    (i)  no
      Default then exists or would result therefrom;

     

     

    (ii)  after
      giving effect to such transaction on a Pro Forma Basis, (A) Borrower shall
      be in
      compliance with all covenants set forth in Section 6.10 as of the most
      recent Test Period (assuming, for purposes of Section 6.10, that such
      transaction, and all other Permitted Acquisitions consummated since the first
      day of the relevant Test Period for each of the financial covenants set forth
      in
Section 6.10 ending on or prior to the date of such transaction, had
      occurred on the first day of such relevant Test Period), and (B) unless
      expressly approved by the Administrative Agent, the person or business to be
      acquired shall have generated positive cash flow for the Test Period most
      recently ended prior to the date of consummation of such
      acquisition;

     

     

    (iii)  no
      Company shall, in connection with any such transaction, assume or remain liable
      with respect to any Indebtedness or other liability (including any material
      tax
      or ERISA liability) of the related seller or the business, person or properties
      acquired, except (A) to the extent permitted under Section 6.01 and (B)
      obligations not constituting Indebtedness incurred in the ordinary course of
      business and necessary or desirable to the continued operation of the underlying
      properties, and any other such liabilities or obligations not permitted to
      be
      assumed or otherwise supported by any Company hereunder shall be paid in full
      or
      released as to the business, persons or properties being so acquired on or
      before the consummation of such acquisition;

     

     

    (iv)  the
      person or business to be acquired shall be, or shall be engaged in, a business
      of the type that Borrower and the Subsidiaries are permitted to be engaged
      in
      under Section 6.15 and, to the extent required by Section
      5.10, the property acquired in connection with any such transaction
      shall be made subject to the Lien of the Security Documents and to the extent
      constituting Collateral, shall be free and clear of any Liens, other than
      Permitted Collateral Liens;

     

     

    (v)  the
      Board
      of Directors of the person to be acquired shall not have indicated publicly
      its
      opposition to the consummation of such acquisition (which opposition has not
      been publicly withdrawn);

     

     

    (vi)  all
      transactions in connection therewith shall be consummated in accordance with
      all
      applicable Requirements of Law;

     

     

    (vii)  with
      respect to any transaction involving Acquisition Consideration of more than
      $25.0 million, unless the Administrative Agent shall otherwise agree, Borrower
      shall have provided the Administrative Agent and the Lenders with (A) historical
      financial statements for the most recently ended fiscal year of the person
      or
      business to be acquired (audited if available without undue cost or delay)
      and
      unaudited financial statements thereof for the most recent interim period which
      are available, (B) reasonably detailed projections for the succeeding fiscal
      year pertaining to the person or business to be acquired and updated projections
      for Borrower after giving effect to such transaction, (C) a reasonably detailed
      description of all material information relating thereto and copies of all
      material documentation pertaining to such transaction, and (D) all such other
      information and data relating to such transaction or the person or business
      to
      be acquired as may be reasonably requested by the Administrative Agent or the
      Required Lenders;

     

     

    (viii)  at
      least
      10 Business Days prior to the proposed date of consummation of the transaction,
      Borrower shall have delivered to the Agents and the Lenders an Officer’s
      Certificate certifying that (A) such transaction complies with this definition
      (which shall have attached thereto reasonably detailed backup data and
      calculations showing such compliance), and (B) such transaction could not
      reasonably be expected to result in a Material Adverse Effect; and

     

     

    (ix)  (A)
      the
      aggregate amount of the Acquisition Consideration for all Foreign Acquisitions
      since the Closing Date shall not exceed the difference between (1) $150.0
      million minus (2) the aggregate amount of Investments in excess of
      $100.0 million outstanding under clause (vi) of Section 6.04(f) and (B)
      the aggregate amount of the Acquisition Consideration (exclusive of any amounts
      financed with Excluded Stock Consideration) for all Permitted Acquisitions
      (including, without limitation, Foreign Acquisitions) since the Closing Date
      shall not exceed the sum of (1) $250.0 million plus (2) an aggregate
      amount, from and after the Closing Date, not exceeding the difference between
      (x) the Cumulative Equity Amount minus (y) the portion of the
      Cumulative Equity Amount applied to make payments, prepayments on or redemptions
      or acquisitions for value of, Indebtedness pursuant to clause (y) of Section
      6.11(a); provided that any Equity Interests constituting all or a
      portion of any Acquisition Consideration in respect of any Permitted
      Acquisitions shall not have a cash dividend requirement on or prior to the
      Final
      Maturity Date.

     

     

    “Permitted
      Collateral Liens” means (a) in the case of Collateral other than
      Mortgaged Property, the Liens described in clauses (a), (b), (c), (d), (e),
      (f),
      (g), (h), (j), (k), (l), (m), (n) and (r) of Section 6.02 and (b) in the
      case of Mortgaged Property, “Permitted Collateral Liens” shall mean the Liens
      described in clauses (a), (b), (d), (e), (g) and (l) of Section 6.02;
provided, however, on the Closing Date or upon the date of
      delivery of each additional Mortgage under Section 5.10 or 5.11,
      Permitted Collateral Liens shall mean only those Liens set forth in Schedule
      B
      to the applicable Mortgage.

     

     

    “Permitted
      Liens” shall have the meaning assigned to such term in Section
      6.02.

     

     

    “person”
      or “Person” shall mean any natural person, corporation, limited
      liability company, trust, joint venture, association, company, partnership,
      Governmental Authority or other entity.

     

     

    “Plan”
      shall mean any employee pension benefit plan (other than a Multiemployer Plan)
      subject to the provisions of Title IV of ERISA or Section 412 of the Code or
      Section 302 of ERISA which is maintained or contributed to by any Company or
      its
      ERISA Affiliate or with respect to which any Company could incur liability
      (including under Section 4069 of ERISA).

     

     

    “Preferred
      Stock” shall mean, with respect to any person, any and all preferred or
      preference Equity Interests (however designated) of such person whether now
      outstanding or issued after the Closing Date.

     

     

    “Preferred
      Stock Issuance” shall mean the issuance or sale by Borrower or any of
      its Subsidiaries of any Preferred Stock after the Closing Date (other than
      as
      permitted by Section 6.13).

     

     

    “Premises”
      shall have the meaning assigned thereto in the applicable Mortgage.

     

     

    “Pro
      Forma Basis” shall mean on a basis in accordance with GAAP and
      Regulation S-X and otherwise reasonably satisfactory to the Administrative
      Agent.

     

     

    “Pro
      Rata Percentage” of any Revolving Lender at any time shall mean the
      percentage of the total Revolving Commitments of all Revolving Lenders
      represented by such Lender’s Revolving Commitment.

     

     

    “property”
      or “Property” shall mean any right, title or interest in or to
      property or assets of any kind whatsoever, whether real, personal or mixed
      and
      whether tangible or intangible and including Equity Interests or other ownership
      interests of any person and whether now in existence or owned or hereafter
      entered into or acquired, including all Real Property.

     

     

    “Property
      Material Adverse Effect” shall have the meaning assigned thereto in the
      Mortgage.

     

     

    “Purchase
      Money Obligation” shall mean, for any person, the obligations of such
      person in respect of Indebtedness (including Capital Lease Obligations) incurred
      for the purpose of financing all or any part of the purchase price of any
      property (including Equity Interests of any person) or the cost of installation,
      construction or improvement of any property and any refinancing thereof;
provided, however, that (i) such Indebtedness is incurred
      within one year after such acquisition, installation, construction or
      improvement of such property by such person and (ii) the amount of such
      Indebtedness does not exceed 100% of the cost of such acquisition, installation,
      construction or improvement, as the case may be.

     

     

    “Qualified
      Capital Stock” of any person shall mean any Equity Interests of such
      person that are not Disqualified Capital Stock.

     

     

    “Real
      Property” shall mean, collectively, all right, title and interest
      (including any leasehold, mineral or other estate) in and to any and all parcels
      of or interests in real property owned, leased or operated by any person,
      whether by lease, license or other means, together with, in each case, all
      easements, hereditaments and appurtenances relating thereto, all improvements
      and appurtenant fixtures and equipment, all general intangibles and contract
      rights and other property and rights incidental to the ownership, lease or
      operation thereof.

     

     

    “Refinancing”
      shall mean the repayment in full and the termination of any commitment to make
      extensions of credit under all of the outstanding indebtedness listed on
Schedule 1.01(a) of Borrower and its Subsidiaries and the Acquired
      Business.

     

     

    “Register”
      shall have the meaning assigned to such term in Section
10.04(c).

     

     

    “Regulation
      D” shall mean Regulation D of the Board as from time to time in effect
      and all official rulings and interpretations thereunder or thereof.

     

     

    “Regulation
      S-X” shall mean Regulation S-X promulgated under the Securities
      Act.

     

     

    “Regulation
      T” shall mean Regulation T of the Board as from time to time in effect
      and all official rulings and interpretations thereunder or thereof.

     

     

    “Regulation
      U” shall mean Regulation U of the Board as from time to time in effect
      and all official rulings and interpretations thereunder or thereof.

     

     

    “Regulation
      X” shall mean Regulation X of the Board as from time to time in effect
      and all official rulings and interpretations thereunder or thereof.

     

     

    “Reimbursement
      Obligations” shall mean Borrower’s obligations under Section
      2.18(e) to reimburse LC Disbursements.

     

     

    “Related
      Parties” shall mean, with respect to any person, such person’s
      Affiliates and the partners, trustees, directors, officers, employees, agents
      and advisors of such person and of such person’s Affiliates.

     

     

    “Release”
      shall mean any spilling, leaking, seepage, pumping, pouring, emitting, emptying,
      discharging, injecting, escaping, leaching, dumping, disposing, depositing,
      dispersing, emanating or migrating of any Hazardous Material in, into, onto
      or
      through the Environment.

     

     

    “Relevant
      Currency Equivalent” shall mean the Dollar Equivalent or each Alternate
      Currency Equivalent, as applicable.

     

     

    “Required
      Class Lenders” shall mean (i) with respect to each Class of Term Loans,
      Lenders having more than 50% of all Term Loans of such Class outstanding and
      (ii) with respect to Revolving Loans, Required Revolving Lenders.

     

     

    “Required
      Lenders” shall mean Lenders having more than 50% of the sum of all
      Loans outstanding, LC Exposure and unused Revolving Commitments and Term Loan
      Commitments.

     

     

    “Required
      Revolving Lenders” shall mean Lenders having more than 50% of all
      Revolving Commitments or, after the Revolving Commitments have terminated,
      more
      than 50% of all Revolving Exposure.

     

     

    “Requirements
      of Law” shall mean, collectively, any and all requirements of any
      Governmental Authority including any and all laws, judgments, orders, decrees,
      ordinances, rules, regulations, statutes or case law.

     

     

    “Response”
      shall mean (a) “response” as such term is defined in CERCLA, 42 U.S.C. §
9601(24), and (b) all other actions required by any Governmental Authority
      or
      voluntarily undertaken to (i) clean up, remove, treat, abate or in any other
      way
      address any Hazardous Material in the Environment; (ii) prevent the Release
      or
      threat of Release, or minimize the further Release, of any Hazardous Material;
      or (iii) perform studies and investigations in connection with, or as a
      precondition to, or to determine the necessity of the activities described
      in,
      clause (i) or (ii) above.

     

     

    “Responsible
      Officer” of any person shall mean any executive officer or Financial
      Officer of such person and any other officer or similar official thereof with
      responsibility for the administration of the obligations of such person in
      respect of this Agreement.

     

     

    “Revolving
      Availability Period” shall mean the period from and including the
      Closing Date to but excluding the earlier of (i) the Business Day preceding
      the
      Revolving Maturity Date and (ii) the date of termination of the Revolving
      Commitments.

     

     

    “Revolving
      Borrowing” shall mean a Borrowing comprised of Revolving
      Loans.

     

     

    “Revolving
      Commitment” shall mean, with respect to each Lender, the commitment, if
      any, of such Lender to make Revolving Loans hereunder up to the amount set
      forth
      on Schedule I to the Lender Addendum executed and delivered by such Lender,
      or
      in the Assignment and Assumption pursuant to which such Lender assumed its
      Revolving Commitment, as applicable, as the same may be (a) reduced from time
      to
      time pursuant to Section 2.07 and (b) reduced or increased from time to
      time pursuant to assignments by or to such Lender pursuant to Section
      10.04.  The aggregate amount of the Lenders’ Revolving Commitments
      on the Closing Date is $115.0 million.

     

     

    “Revolving
      Exposure” shall mean, with respect to any Lender at any time, the
      Dollar Equivalent of the aggregate principal amount at such time of all
      outstanding Revolving Loans of such Lender, plus the Dollar Equivalent
      of the aggregate amount at such time of such Lender’s LC Exposure, plus
      the Dollar Equivalent of the aggregate amount at such time of such Lender’s
      Swingline Exposure.

     

     

    “Revolving
      Lender” shall mean a Lender with a Revolving Commitment.

     

     

    “Revolving
      Loans” shall mean the Dollar Revolving Loans, the Euro Revolving Loans
      and the GBP Revolving Loans, collectively.

     

     

    “Revolving
      Maturity Date” shall mean the date which is the earlier of (a) the date
      which is six years after the Closing Date or, if such date is not a Business
      Day, the first Business Day thereafter and (b) the date which is 180 days prior
      to the Senior Subordinated Note Maturity Date or, if such date is not a Business
      Day, the first Business Day thereafter; provided that if, as of the
      date referred to in clause (b), the Total Leverage Ratio as of the end of the
      most recent Test Period ending on or prior to such date is less than 2.0 to
      1.0,
      then clause (b) shall not be given effect and the Revolving Maturity Date shall
      be the date referred to in clause (a).

     

     

    “Sale
      and Leaseback Transaction” has the meaning assigned to such term in
Section 6.03.

     

     

    “Sarbanes-Oxley
      Act” shall mean the United States Sarbanes-Oxley Act of 2002, as
      amended, and all rules and regulations promulgated thereunder.

     

     

    “Secured
      Obligations” shall mean (a) the Obligations, (b) the due and punctual
      payment and performance of all obligations of Borrower and the other Loan
      Parties under each Hedging Agreement entered into with any counterparty that
      is
      a Secured Party and (c) the due and punctual payment and performance of all
      obligations of Borrower and the other Loan Parties (including overdrafts and
      related liabilities) under each Treasury Services Agreement entered into with
      any counterparty that is a Secured Party.

     

     

    “Secured
      Parties” shall mean, collectively, the Administrative Agent, the
      Collateral Agent, each other Agent, each Issuing Bank, the Lenders and each
      counterparty to a Hedging Agreement or Treasury Services Agreement if at the
      date of entering into such Hedging Agreement or Treasury Services Agreement
      such
      person was an Arranger, an Agent, a Lender or an Affiliate of an Arranger or
      an
      Agent or a Lender and such person executes and delivers to the Administrative
      Agent a letter agreement in form and substance acceptable to the Administrative
      Agent pursuant to which such person (i) appoints the Collateral Agent as its
      agent under the applicable Loan Documents and (ii) agrees to be bound by the
      provisions of Sections 10.03 and 10.09 as if it were a
      Lender.

     

     

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

     

     

    “Securities
      Collateral” shall have the meaning assigned to such term in the
      Security Agreement.

     

     

    “Security
      Agreement” shall mean a Security Agreement substantially in the form of
Exhibit M among the Loan Parties and Collateral Agent for the benefit
      of
      the Secured Parties.

     

     

    “Security
      Agreement Collateral” shall mean all property pledged or granted as
      collateral pursuant to the Security Agreement (a) on the Closing Date or (b)
      thereafter pursuant to Section 5.10.

     

     

    “Security
      Documents” shall mean the Security Agreement, the Mortgages and each
      other security document or pledge agreement delivered in accordance with
      applicable local or foreign law to grant a valid, perfected security interest
      in
      any property as collateral for the Secured Obligations, and all UCC or other
      financing statements or instruments of perfection required by this Agreement,
      the Security Agreement, any Mortgage or any other such security document or
      pledge agreement to be filed with respect to the security interests in property
      and fixtures created pursuant to the Security Agreement or any Mortgage and
      any
      other document or instrument utilized to pledge or grant or purport to pledge
      or
      grant a security interest or lien on any property as collateral for the Secured
      Obligations.

     

     

    “Sellers”
      shall have the meaning assigned to such term in the first recital
      hereto.

     

     

    “Senior
      Subordinated Note Agreement” shall mean the indenture pursuant to which
      the Senior Subordinated Notes are issued and the Senior Subordinated Notes
      as in
      effect on the date hereof and thereafter amended from time to time subject
      to
      the requirements of this Agreement.

     

     

    “Senior
      Subordinated Note Documents” shall mean the Senior Subordinated Notes,
      the Senior Subordinated Note Agreement, the Senior Subordinated Note Guarantees
      and all other documents executed and delivered with respect to the Senior
      Subordinated Notes or the Senior Subordinated Note Agreement.

     

     

    “Senior
      Subordinated Note Guarantees” shall mean the guarantees of the
      Subsidiary Guarantors pursuant to the Senior Subordinated Note
      Agreement.

     

     

    “Senior
      Subordinated Note Maturity Date” shall mean the final maturity date of
      the Senior Subordinated Notes; provided that (i) if the Senior
      Subordinated Notes are refinanced in whole or in part in accordance with the
      terms hereof with the proceeds of Senior Subordinated Note Refinancing
      Indebtedness on or prior to the 180th day prior
      to such
      maturity date and (ii) all Senior Subordinated Notes are repaid or redeemed
      and
      are no longer outstanding on or prior to the 180th day prior
      to such
      maturity date, then the “Senior Subordinated Note Maturity
      Date” shall mean the earliest maturity date of, or scheduled date for
      the required repayment of principal of, such Senior Subordinated Note
      Refinancing Indebtedness.

     

     

    “Senior
      Subordinated Note Refinancing Indebtedness” shall mean Indebtedness
      incurred the net proceeds of which are used, in whole or in part, to refinance
      the Senior Subordinated Notes and which is incurred pursuant to Section
      6.01(b)(ii).

     

     

    “Senior
      Subordinated Notes” shall mean Borrower’s 7.75% Senior Subordinated
      Notes due 2012 issued pursuant to the Senior Subordinated Note Agreement and
      the
      registered notes issued by Borrower in exchange for, and as contemplated by,
      such notes with substantially identical terms as such notes.

     

     

    “Spot
      Selling Rate” shall mean, with respect to an Alternate Currency, the
      spot selling rate at which 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) offers to sell such
      Alternate Currency for Dollars in the London foreign exchange market at
      approximately 11:00 a.m. London time on such date for delivery two (2) Business
      Days later.

     

     

    “Standby
      Letter of Credit” shall mean any standby letter of credit or similar
      instrument issued for the purpose of supporting (a) workers’ compensation
      liabilities of Borrower or any of its Subsidiaries, (b) the obligations of
      third-party insurers of Borrower or any of its Subsidiaries arising by virtue
      of
      the laws of any jurisdiction requiring third-party insurers to obtain such
      letters of credit, (c) performance, payment, deposit or surety obligations
      of
      Borrower or any of its Subsidiaries if required by a Requirement of Law or
      in
      accordance with custom and practice in the industry or (d) Indebtedness of
      Borrower or any of its Subsidiaries permitted to be incurred under Section
      6.01 (other than Indebtedness incurred under Section
      6.01(m)).

     

     

    “Statutory
      Reserves” shall mean for any Interest Period for any Eurocurrency
      Borrowing or EURIBOR Borrowing, the average maximum rate at which reserves
      (including any marginal, supplemental or emergency reserves) are required to
      be
      maintained during such Interest Period under Regulation D by member banks of
      the
      United States Federal Reserve System in New York City with deposits exceeding
      one billion Dollars against “Eurocurrency liabilities” (as such term is used in
      Regulation D).  Eurocurrency Borrowings and EURIBOR Borrowings shall
      be deemed to constitute Eurocurrency liabilities and to be subject to such
      reserve requirements without benefit of or credit for proration, exceptions
      or
      offsets which may be available from time to time to any Lender under Regulation
      D.

     

     

    “Subordinated
      Indebtedness” shall mean Indebtedness of Borrower or any Subsidiary
      Guarantor that is by its terms subordinated in right of payment to the
      Obligations of Borrower and such Subsidiary Guarantor, as applicable (including,
      without limitation, Indebtedness under the Existing Senior Subordinated Notes
      Documents).

     

     

    “Subsidiary”
      shall mean, with respect to any person (the “parent”) at any date, (i) any
      person the accounts of which would be consolidated with those of the parent
      in
      the parent’s consolidated financial statements if such financial statements were
      prepared in accordance with GAAP as of such date, (ii) any other corporation,
      limited liability company, association or other business entity of which
      securities or other ownership interests representing more than 50% of the voting
      power of all Equity Interests entitled (without regard to the occurrence of
      any
      contingency) to vote in the election of the Board of Directors thereof are,
      as
      of such date, owned, controlled or held by the parent and/or one or more
      subsidiaries of the parent, (iii) any partnership (a) the sole general partner
      or the managing general partner of which is the parent and/or one or more
      subsidiaries of the parent or (b) the only general partners of which are the
      parent and/or one or more subsidiaries of the parent and (iv) any other person
      that is otherwise Controlled by the parent and/or one or more subsidiaries
      of
      the parent.  Unless the context requires otherwise,
“Subsidiary” refers to a Subsidiary of Borrower.

     

     

    “Subsidiary
      Guarantor” shall mean each Subsidiary listed on Schedule
      1.01(b), and each other Subsidiary that is or becomes a party to this
      Agreement pursuant to Section 5.10.

     

     

    “Sullivan
      Road Property” shall mean the real property located at 2818 North
      Sullivan Road, Spokane, WA 99216.

     

     

    “Survey”
      shall mean a survey of any Mortgaged Property (and all improvements thereon)
      which is (a) (i) prepared by a surveyor or engineer licensed to perform surveys
      in the jurisdiction where such Mortgaged Property is located, (ii) dated (or
      redated) not earlier than six months prior to the date of delivery thereof
      unless there shall have occurred within six months prior to such date of
      delivery any exterior construction on the site of such Mortgaged Property or
      any
      easement, right of way or other interest in the Mortgaged Property has been
      granted or become effective through operation of law or otherwise with respect
      to such Mortgaged Property which, in either case, can be depicted on a survey,
      in which events, as applicable, such survey shall be dated (or redated) after
      the completion of such construction or if such construction shall not have
      been
      completed as of such date of delivery, not earlier than 20 days prior to such
      date of delivery, or after the grant or effectiveness of any such easement,
      right of way or other interest in the Mortgaged Property (or in any case, such
      other date as shall be acceptable to the Administrative Agent in its sole
      discretion), (iii) certified by the surveyor (in a manner reasonably acceptable
      to the Administrative Agent) to the Administrative Agent, the Collateral Agent
      and the Title Company, (iv) 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 (v) sufficient for the
      Title Company to remove all standard survey exceptions from the title insurance
      policy (or commitment) relating to such Mortgaged Property and issue the
      endorsements of the type required by Section 4.01(o)(iii) or (b)
      otherwise acceptable to the Collateral Agent.

     

     

    “Swingline
      Commitment” shall mean the commitment of the Swingline Lender to make
      loans pursuant to Section 2.17, as the same may be reduced from time to
      time pursuant to Section 2.07 or Section 2.17.  The
      amount of the Swingline Commitment shall initially be $15.0 million, but shall
      in no event exceed the Revolving Commitment.

     

     

    “Swingline
      Exposure” shall mean at any time the aggregate principal amount at such
      time of all outstanding Swingline Loans.  The Swingline Exposure of
      any Revolving Lender at any time shall equal its Pro Rata Percentage of the
      aggregate Swingline Exposure at such time.

     

     

    “Swingline
      Lender” shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “Swingline
      Loan” shall mean any loan made by the Swingline Lender pursuant to
Section 2.17.

     

     

    “Syndication
      Agent” shall have the meaning assigned to such term in the preamble
      hereto.

     

     

    “TARGET”
      shall mean the Trans-European Automated Real-Time Gross Settlement Express
      Transfer payment system (or any successor payment system).

     

     

    “TARGET
      Day” shall mean any day on which TARGET is open for the settlement of
      payments in Euro.

     

     

    “Tax
      Return” shall mean all returns, statements, filings, attachments and
      other documents or certifications required to be filed in respect of
      Taxes.

     

     

    “Taxes”
      shall mean all present or future taxes, levies, imposts, duties, deductions,
      withholdings, assessments, fees or other charges imposed by any Governmental
      Authority, including any interest, additions to tax or penalties applicable
      thereto.

     

     

    “Term
      Borrowing” shall mean a Borrowing comprised of Term Loans.

     

     

    “Term
      Loan Commitments” shall mean the Dollar Term Commitment, the Euro Term
      Commitment and the GBP Term Commitment, collectively.

     

     

    “Term
      Loan Lender” shall mean a Lender with a Term Loan Commitment or an
      outstanding Term Loan.

     

     

    “Term
      Loan Maturity Date” shall mean the date which is the earlier of (a) the
      date which is seven years after the Closing Date or, if such date is not a
      Business Day, the first Business Day thereafter and (b) the date which is 180
      days prior to the Senior Subordinated Note Maturity Date or, if such date is
      not
      a Business Day, the first Business Day thereafter; provided that if, as
      of the date referred to in clause (b), the Total Leverage Ratio as of the end
      of
      the most recent Test Period ending on or prior to such date is less than 2.0
      to
      1.0, then clause (b) shall not be given effect and the Term Loan Maturity Date
      shall be the date referred to in clause (a).

     

     

    “Term
      Loan Repayment Date” shall have the meaning assigned to such term in
Section 2.09.

     

     

    “Term
      Loans” shall mean the Dollar Term Loans, the Euro Term Loans and the
      GBP Term Loans, collectively.

     

     

    “Test
      Period” shall mean, at any time, the four consecutive fiscal quarters
      of Borrower then last ended (in each case taken as one accounting period) for
      which financial statements have been or are required to be delivered pursuant
      to
Section 5.01(a) or (b).

     

     

    “Title
      Company” shall mean any title insurance company as shall be retained by
      Borrower and reasonably acceptable to the Administrative Agent.

     

     

    “Title
      Policy” shall have the meaning assigned to such term in Section
      4.01(o)(iii).

     

     

    “Total
      Leverage Ratio” shall mean, at any date of determination, the ratio of
      Consolidated Indebtedness on such date to Consolidated EBITDA for the Test
      Period then most recently ended.

     

     

    “Transaction
      Documents” shall mean the Acquisition Documents and the Loan
      Documents.

     

     

    “Transactions”
      shall mean, collectively, the transactions to occur on or prior to the Closing
      Date pursuant to the Transaction Documents, including (a) the consummation
      of
      the Acquisition; (b) the execution, delivery and performance of the Loan
      Documents and the initial borrowings hereunder; (c) the Refinancing; and (d)
      the
      payment of all fees and expenses to be paid on or prior to the Closing Date
      and
      owing in connection with the foregoing.

     

     

    “Transferred
      Guarantor” shall have the meaning assigned to such term in Section
      7.09.

     

     

    “Treasury
      Services Agreement” shall mean any agreement relating to treasury,
      depositary and cash management services or automated clearinghouse transfer
      of
      funds.

     

     

    “Trigger
      Date” shall mean the date of delivery to the Administrative Agent of
      the financial statements and certificates required by Section 5.01(a) or
(b) and Section 5.01(c) for the first fiscal period ended at least
      three months after the Closing Date.

     

     

    “Type,”
      when used in reference to any Loan or Borrowing, refers to whether the rate
      of
      interest on such Loan, or on the Loans comprising such Borrowing, is determined
      by reference to the Adjusted EURIBOR Rate, the Adjusted LIBOR Rate or the
      Alternate Base Rate.

     

     

    “UCC”
      shall mean the Uniform Commercial Code as in effect from time to time (except
      as
      otherwise specified) in any applicable state or jurisdiction.

     

     

    “United
      States” shall mean the United States of America.

     

     

    “Voting
      Stock” shall mean, with respect to any person, any class or classes of
      Equity Interests pursuant to which the holders thereof have the general voting
      power under ordinary circumstances to elect at least a majority of the Board
      of
      Directors of such person.

     

     

    “Wells
      Fargo” shall mean Wells Fargo Bank, National Association.

     

     

    “Wholly
      Owned Subsidiary” shall mean, as to any person, (a) any corporation
      100% of whose capital stock (other than directors’ qualifying shares) is at the
      time owned by such person and/or one or more Wholly Owned Subsidiaries of such
      person and (b) any partnership, association, joint venture, limited liability
      company or other entity in which such person and/or one or more Wholly Owned
      Subsidiaries of such person have a 100% equity interest at such
      time.

     

     

    “Withdrawal
      Liability” shall mean liability to a Multiemployer Plan as a result of
      a Company’s or any of its ERISA Affiliates’ complete or partial withdrawal from
      such Multiemployer Plan, as such terms are defined in Part I of Subtitle E
      of
      Title IV of ERISA.

     

    Section
      1.02  Terms
      Generally; Alternate Currency
      Translation

     

    .  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 Loan Document, 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
      (subject to any restrictions on such amendments, supplements or modifications
      set forth herein), (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 hereof,
      (d)
      all references herein to Articles, Sections, Exhibits and Schedules shall be
      construed to refer to Articles and Sections of, and Exhibits and Schedules
      to,
      this Agreement, (e) any reference to any law or regulation herein shall refer
      to
      such law or regulation as amended, modified or supplemented from time to time,
      (f) 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 and (g)
      “on,” when used with respect to the Mortgaged Property or any property adjacent
      to the Mortgaged Property, means “on, in, under, above or about.”  For
      purposes of this Agreement and the other Loan Documents, (i) where the
      permissibility of a transaction or determinations of required actions or
      circumstances depend upon compliance with, or are determined by reference to,
      amounts stated in Dollars, any requisite currency translation shall be based
      on
      the Spot Selling Rate in effect on the Business Day immediately preceding the
      date of such transaction or determination and shall not be affected by
      subsequent fluctuations in exchange rates and (ii) as of any date of
      determination, for purposes of the pro rata application of any amounts
      required to be applied hereunder to the payment of Loans or other Obligations
      which are denominated in more than a single Approved Currency, such pro
      rata application shall be determined by reference to the Dollar Equivalent
      of such Loans or other Obligations as of such date of
      determination.

     

    Section
      1.03  Accounting
      Terms; GAAP

     

    .  Except
      as otherwise expressly provided herein, all financial statements to be delivered
      pursuant to this Agreement shall be prepared in accordance with GAAP as in
      effect from time to time and all terms of an accounting or financial nature
      shall be construed and interpreted in accordance with GAAP, as in effect on
      the
      date hereof unless otherwise agreed to by Borrower and the Required
      Lenders.

     

    Section
      1.04  Resolution
      of Drafting Ambiguities

     

    .  Each
      Loan Party acknowledges and agrees that it was represented by counsel in
      connection with the execution and delivery of the Loan Documents to which it
      is
      a party, that it and its counsel reviewed and participated in the preparation
      and negotiation hereof and thereof and that any rule of construction to the
      effect that ambiguities are to be resolved against the drafting party shall
      not
      be employed in the interpretation hereof or thereof.

     

     

    ARTICLE
      II                                

     

    THE
      CREDITS

     

    Section
      2.01  Commitments

     

    .  Subject
      to the terms and conditions and relying upon the representations and warranties
      herein set forth, each Lender agrees, severally and not jointly:

     

     

    (a)  (i)
      to
      make a Dollar Term Loan to Borrower on the Closing Date in the principal amount
      not to exceed its Dollar Term Commitment, (ii) to make a Euro Term Loan to
      Borrower on the Closing Date in the principal amount not to exceed its Euro
      Term
      Commitment and (iii) to make a GBP Term Loan to Borrower on the Closing Date
      in
      the principal amount not to exceed its GBP Term Commitment; and

     

     

    (b)  to
      make
      (i) Dollar Revolving Loans, (ii) Euro Revolving Loans and (iii) GBP Revolving
      Loans, in each case, to Borrower, at any time and from time to time after the
      Closing Date until the earlier of the Revolving Maturity Date and the
      termination of the Revolving Commitment of such Lender in accordance with the
      terms hereof, in an aggregate principal amount at any time outstanding that
      will
      not result in such Lender’s Revolving Exposure exceeding such Lender’s Revolving
      Commitment.

     

     

    Amounts
      paid or prepaid in respect of Term Loans may not be
      reborrowed.  Within the limits set forth in clause (b) above and
      subject to the terms, conditions and limitations set forth herein, Borrower
      may
      borrow, pay or prepay and reborrow Revolving Loans.

     

     

    Section
      2.02  Loans

     

    (a)  Each
      Loan
      (other than Swingline Loans) shall be made as part of a Borrowing consisting
      of
      Loans made by the Lenders ratably in accordance with their applicable
      Commitments; provided that the failure of any Lender to make its Loan
      shall not in itself relieve any other Lender of its obligation to lend hereunder
      (it being understood, however, that no Lender shall be responsible for the
      failure of any other Lender to make any Loan required to be made by such other
      Lender).  Except for Swingline Loans and Loans made pursuant to
Section 2.18(e)(i), (i) ABR Loans comprising any Borrowing shall be in an
      aggregate principal amount that is (x) an integral multiple of $1.0 million
      and
      not less than $1.0 million or (y) equal to the remaining available balance
      of
      the applicable Commitments, (ii) the Eurocurrency Loans comprising any Borrowing
      of Dollar Loans shall be in an aggregate principal amount that is (x) an
      integral multiple of $1.0 million and not less than $1.0 million or (y) equal
      to
      the remaining available balance of the applicable Commitments, (iii) the
      Eurocurrency Loans comprising any Borrowing of GBP Loans shall be in an
      aggregate principal amount that is (x) an integral multiple of £500,000 and not
      less than £500,000 or (y) equal to the remaining available balance of the
      applicable Commitments, and (iv) the EURIBOR Loans comprising any Borrowing
      shall be in an aggregate principal amount that is (x) an integral multiple
      of
€1.0 million and not less than €1.0 million or (y) equal to the remaining
      available balance of the applicable Commitments.

     

     

    (b)  Subject
      to Sections 2.11 and 2.12, each Borrowing shall be comprised
      entirely of ABR Loans, Eurocurrency Loans that are Dollar Loans, Eurocurrency
      Loans that are GBP Loans or EURIBOR Loans as Borrower may request pursuant
      to
Section 2.03.  Each Lender may at its option make any
      Eurocurrency Loan or EURIBOR Loan by causing any domestic or foreign branch
      or
      Affiliate of such Lender to make such Loan; provided that any exercise
      of such option shall not affect the obligation of Borrower to repay such Loan
      in
      accordance with the terms of this Agreement.  Borrowings of more than
      one Type may be outstanding at the same time; provided that Borrower
      shall not be entitled to request any Borrowing that, if made, would result
      in
      more than (i) ten Eurocurrency Borrowings of Dollar Loans, (ii) five
      Eurocurrency Borrowings of GBP Loans or (iii) ten EURIBOR Borrowings outstanding
      hereunder at any one time.  For purposes of the foregoing, Borrowings
      having different Interest Periods, regardless of whether they commence on the
      same date, shall be considered separate Borrowings.

     

     

    (c)  Each
      Lender shall make each Loan to be made by it hereunder on the proposed date
      thereof by wire transfer of immediately available funds to such account in
      New
      York City (in the case of Dollar Loans) or London (in the case of Alternate
      Currency Loans) as the Administrative Agent may designate not later than 2:00
      p.m., Local Time, and the Administrative Agent shall promptly credit the amounts
      so received to an account as directed by Borrower in the applicable Borrowing
      Request maintained with the Administrative Agent or, if a Borrowing shall not
      occur on such date because any condition precedent herein specified shall not
      have been met, return the amounts so received to the respective
      Lenders.

     

     

    (d)  Unless
      the Administrative Agent shall have received notice from a Lender prior to
      the
      time of any Borrowing that such Lender will not make available to the
      Administrative Agent such Lender’s portion of such Borrowing, the Administrative
      Agent may assume that such Lender has made such portion available to the
      Administrative Agent on the date of such Borrowing in accordance with paragraph
      (c) above, and the Administrative Agent may, in reliance upon such assumption,
      make available to Borrower on such date a corresponding amount.  If
      the Administrative Agent shall have so made funds available, then, to the extent
      that such Lender shall not have made such portion available to the
      Administrative Agent, each of such Lender and Borrower severally agrees to
      repay
      to the Administrative Agent forthwith on demand such corresponding amount
      together with interest thereon, for each day from the date such amount is made
      available to Borrower until the date such amount is repaid to the Administrative
      Agent at (i) in the case of Borrower, the interest rate applicable at the time
      to the Loans comprising such Borrowing and (ii) in the case of such Lender,
      the
      Interbank Rate for such period.  If such Lender shall repay to the
      Administrative Agent such corresponding amount, such amount shall constitute
      such Lender’s Loan as part of such Borrowing for purposes of this Agreement, and
      Borrower’s obligation to repay the Administrative Agent such corresponding
      amount pursuant to this Section 2.02(d) shall cease.

     

     

    (e)  Notwithstanding
      any other provision of this Agreement, Borrower shall not be entitled to
      request, or to elect to convert or continue, any Borrowing if the Interest
      Period requested with respect thereto would end after the Revolving Maturity
      Date (in the case of Revolving Loans) or the Term Loan Maturity Date (in the
      case of Term Loans), as applicable.

     

    Section
      2.03  Borrowing
      Procedure

     

    .  To
      request a Revolving Borrowing or Term Borrowing, Borrower shall deliver, by
      hand
      delivery or telecopier, a duly completed and executed Borrowing Request to
      the
      Administrative Agent (i) in the case of a Eurocurrency Borrowing or a EURIBOR
      Borrowing, not later than noon, Local Time, three Business Days before the
      date
      of the proposed Borrowing or (ii) in the case of an ABR Borrowing, not later
      than noon, New York City time, on the date of the proposed
      Borrowing.  Each Borrowing Request shall be irrevocable and shall
      specify the following information in compliance with Section
      2.02:

     

     

    (a)  whether
      the requested Borrowing is to be a Borrowing of Dollar Revolving Loans, Dollar
      Term Loans, Euro Revolving Loans, Euro Term Loans, GBP Revolving Loans or GBP
      Term Loans;

     

     

    (b)  the
      aggregate amount of such Borrowing;

     

     

    (c)  the
      date
      of such Borrowing, which shall be a Business Day;

     

     

    (d)  in
      the
      case of a Borrowing of Dollar Loans, whether such Borrowing is to be an ABR
      Borrowing or a Eurocurrency Borrowing;

     

     

    (e)  in
      the
      case of a Eurocurrency Borrowing or a EURIBOR Borrowing, the initial Interest
      Period to be applicable thereto, which shall be a period contemplated by the
      definition of the term “Interest Period”;

     

     

    (f)  the
      location and number of Borrower’s account to which funds are to be disbursed,
      which shall comply with the requirements of Section 2.02(c);
      and

     

     

    (g)  that
      the
      conditions set forth in Sections 4.02(b)-(d) have been satisfied as of
      the date of the notice.

     

     

    If
      no
      election as to the Type of Borrowing is specified with respect to any requested
      Borrowing of Dollar Loans, then the requested Borrowing shall be an ABR
      Borrowing.  If no Interest Period is specified with respect to any
      requested Eurocurrency Borrowing or EURIBOR Borrowing, then Borrower shall
      be
      deemed to have selected an Interest Period of one month’s
      duration.  Promptly following receipt of a Borrowing Request in
      accordance with this Section, the Administrative Agent shall advise each Lender
      of the details thereof and of the amount of such Lender’s Loan to be made as
      part of the requested Borrowing.

     

    Section
      2.04  Evidence
      of Debt; Repayment of Loans

     

    (a)  Promise
      to Repay.  Borrower hereby unconditionally promises to pay (i) to
      the Administrative Agent for the account of each Term Loan Lender, the principal
      amount of each Term Loan of such Term Loan Lender as provided in Section
      2.09, (ii) to the Administrative Agent for the account of each Revolving
      Lender, the then unpaid principal amount of each Revolving Loan of such
      Revolving Lender on the Revolving Maturity Date and (iii) to the Swingline
      Lender, the then unpaid principal amount of each Swingline Loan on the earlier
      of the Revolving Maturity Date and the first date after such Swingline Loan
      is
      made that is the 15th or last day of a calendar month and is at least two
      Business Days after such Swingline Loan is made; provided that on each
      date that a Revolving Borrowing is made, Borrower shall repay all Swingline
      Loans that were outstanding on the date such Borrowing was
      requested.  All payments or repayments of Loans made pursuant to this
Section 2.04(a) shall be made in the Approved Currency in which such Loan
      is denominated.

     

     

    (b)  Lender
      and Administrative Agent Records.  Each Lender shall maintain in
      accordance with its usual practice an account or accounts evidencing the
      Indebtedness of Borrower to such Lender resulting from each Loan made by such
      Lender from time to time, including the amounts of principal and interest
      payable and paid to such Lender from time to time under this
      Agreement.  The Administrative Agent shall maintain accounts in which
      it will record (i) the amount and Approved Currency of each Loan made hereunder,
      the Type and Class thereof and the Interest Period applicable thereto; (ii)
      the
      amount of any principal or interest due and payable or to become due and payable
      from Borrower to each Lender hereunder; and (iii) the amount of any sum received
      by the Administrative Agent hereunder for the account of the Lenders and each
      Lender’s share thereof.  The entries made in the accounts maintained
      pursuant to this paragraph shall be prima facie evidence of the
      existence and amounts of the obligations therein recorded; provided
      that the failure of any Lender or the Administrative Agent to maintain such
      accounts or any error therein shall not in any manner affect the obligations
      of
      Borrower to repay the Loans in accordance with their terms.

     

     

    (c)  Promissory
      Notes.  Any Lender by written notice to Borrower (with a
      copy to the Administrative Agent) may request that any Term Loans of any Class
      and any Revolving Loans made by it be evidenced by a promissory
      note.  In such event, Borrower shall prepare, execute and deliver to
      such Lender a promissory note payable to the order of such Lender (or, if
      requested by such Lender, to such Lender and its registered assigns) in the
      form
      of Exhibit K-1, K-2, K-3, K-4 or K-5, as the
      case may be.  Thereafter, the Loans evidenced by such promissory note
      and interest thereon shall at all times (including after assignment pursuant
      to
Section 10.04, except to the extent any such note is cancelled and not
      replaced in connection with such assignment) be represented by one or more
      promissory notes in such form payable to the order of the payee named therein
      (or, if such promissory note is a registered note, to such payee and its
      registered assigns).

     

     

    Section
      2.05  Fees

     

    (a)  Commitment
      Fee.  Borrower agrees to pay to the Administrative Agent for the
      account of each Lender a commitment fee (a “Commitment Fee”)
      denominated in Dollars equal to the Applicable Fee per annum on the average
      daily unused amount of each Commitment of such Lender during the period from
      and
      including the date hereof to but excluding the date on which such Commitment
      terminates.  Accrued Commitment Fees shall be payable in arrears (A)
      on the last Business Day of March, June, September and December of each year,
      commencing on the first such date to occur after the date hereof, and (B) on
      the
      date on which such Commitment terminates.  Commitment Fees shall be
      computed on the basis of a year of 360 days and shall be payable for the actual
      number of days elapsed (including the first day but excluding the last
      day).  For purposes of computing Commitment Fees with respect to
      Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to
      be
      used to the extent of the outstanding Revolving Loans and LC Exposure of such
      Lender (and the Swingline Exposure of such Lender shall be disregarded for
      such
      purpose).

     

     

    (b)  Administrative
      Agent Fees.  Borrower agrees to pay to the Administrative Agent,
      for its own account, the administrative fees payable in the amounts and at
      the
      times separately agreed upon between Borrower and the Administrative Agent
      (the
“Administrative Agent Fees”).

     

     

    (c)  LC
      and
      Fronting Fees.  Borrower agrees to pay (i) to the Administrative
      Agent for the account of each Revolving Lender a participation fee (“LC
      Participation Fee”) with respect to (x) its participations in Dollar
      denominated Letters of Credit, which shall accrue at a rate equal to the
      Applicable Margin from time to time used to determine the interest rate on
      Dollar Revolving Loans that are Eurocurrency Revolving Loans pursuant to
Section 2.06 on the average daily amount of such Lender’s Dollar LC
      Exposure (excluding any portion thereof attributable to Reimbursement
      Obligations) during the period from and including the Closing Date to but
      excluding the later of the date on which such Lender’s Revolving Commitment
      terminates and the date on which such Lender ceases to have any Dollar LC
      Exposure, (y) its participations in Euro denominated Letters of Credit, which
      shall accrue at a rate equal to the Applicable Margin from time to time used
      to
      determine the interest rate on Euro Revolving Loans pursuant to Section
      2.06 on the average daily amount of such Lender’s Euro LC Exposure
      (excluding any portion thereof attributable to Reimbursement Obligations) during
      the period from and including the Closing Date to but excluding the later of
      the
      date on which such Lender’s Revolving Commitment terminates and the date on
      which such Lender ceases to have any Euro LC Exposure and (z) its participations
      in GBP denominated Letters of Credit, which shall accrue at a rate equal to
      the
      Applicable Margin from time to time used to determine the interest rate on
      GBP
      Revolving Loans pursuant to Section 2.06 on the average daily amount of
      such Lender’s GBP LC Exposure (excluding any portion thereof attributable to
      Reimbursement Obligations) during the period from and including the Closing
      Date
      to but excluding the later of the date on which such Lender’s Revolving
      Commitment terminates and the date on which such Lender ceases to have any
      GBP
      LC Exposure, and (ii) to each Issuing Bank a fronting fee (“Fronting
      Fee”), which, (x) in the case of Standby Letters of Credit, shall
      accrue at the rate of 0.125% per annum on the average daily amount of each
      of
      the Dollar LC Exposure, the Euro LC Exposure and the GBP LC Exposure, in each
      case, in respect of Standby Letters of Credit issued by such Issuing Bank (and
      in each case excluding any portion thereof attributable to Reimbursement
      Obligations) during the period from and including the Closing Date to but
      excluding the later of the date of termination of the Revolving Commitments
      and
      the date on which there ceases to be any LC Exposure and (y) in the case of
      each
      Commercial Letter of Credit issued by such Issuing Bank, shall be equal to
      an
      amount agreed upon between such Issuing Bank and Borrower, in each case, as
      well
      as such Issuing Bank’s customary fees with respect to the issuance, amendment,
      renewal or extension of any such Letters of Credit or processing of drawings
      thereunder.  Accrued Fronting Fees in respect of Standby Letters of
      Credit and accrued LC Participation Fees shall be payable in arrears (i) on
      the
      last Business Day of March, June, September and December of each year,
      commencing on the first such date to occur after the Closing Date, and (ii)
      on
      the date on which the Revolving Commitments terminate.  Any such fees
      accruing after the date on which the Revolving Commitments terminate shall
      be
      payable on demand.  Fronting Fees in respect of Commercial Letters of
      Credit shall be payable upon the issuance of such Commercial Letters of
      Credit.  Any other fees payable to the Issuing Bank pursuant to this
      paragraph shall be payable within 10 days after demand therefor.  All
      Fronting Fees in respect of Standby Letters of Credit and all LC Participation
      Fees shall be computed on the basis of a year of 360 days and shall be payable
      for the actual number of days elapsed (including the first day but excluding
      the
      last day).

     

     

    (d)           All
      Fees shall be paid on the dates due, in immediately available funds in the
      applicable Approved Currency, to the Administrative Agent for distribution,
      if
      and as appropriate, among the Lenders, except that Borrower shall pay the
      Fronting Fees directly to the Issuing Bank.  Once paid, none of the
      Fees shall be refundable under any circumstances.

     

     

    Section
      2.06  Interest
      on Loans

     

    (a)  ABR
      Loans.  Subject to the provisions of Section
      2.06(d), the Loans comprising each ABR Borrowing, including
      each Swingline Loan, shall bear interest at a rate per annum equal to the
      Alternate Base Rate plus the Applicable Margin in effect from time to
      time.

     

     

    (b)  Eurocurrency
      Loans.  Subject to the provisions of Section
      2.06(d), the Loans comprising each Eurocurrency Borrowing
      shall bear interest at a rate per annum equal to the Adjusted LIBOR Rate for
      the
      Interest Period in effect for such Borrowing plus the Applicable Margin in
      effect from time to time.

     

     

    (c)  EURIBOR
      Loans.  Subject to the provisions of Section
      2.06(d), the Loans comprising each EURIBOR Borrowing shall
      bear interest at a rate per annum equal to the Adjusted EURIBOR Rate for the
      Interest Period in effect for such Borrowing plus the Applicable Margin in
      effect from time to time.

     

     

    (d)  Default
      Rate.  Notwithstanding the foregoing, during an Event of Default,
      all Obligations shall, to the extent permitted by applicable law, bear interest,
      after as well as before judgment, at a per annum rate equal to (i) in the case
      of principal of or interest on any Loan, 2% plus the rate otherwise
      applicable to such Loan as provided in the preceding paragraphs of this
Section 2.06 or (ii) in the case of any other amount, 2% plus
      the rate applicable to ABR Revolving Loans as provided in Section 2.06(a)
      (in either case, the “Default Rate”).

     

     

    (e)  Interest
      Payment Dates.  Accrued interest on each Loan shall be payable in
      arrears on each Interest Payment Date for such Loan; provided that (i)
      interest accrued pursuant to Section 2.06(d) shall be
      payable on demand, (ii) in the event of any repayment or prepayment of any
      Loan
      (other than a prepayment of an ABR Revolving Loan or a Swingline Loan without
      a
      permanent reduction in Revolving Commitments), accrued interest on the principal
      amount repaid or prepaid shall be payable on the date of such repayment or
      prepayment and (iii) in the event of any conversion of any Eurocurrency Loan
      prior to the end of the current Interest Period therefor, accrued interest
      on
      such Loan shall be payable on the effective date of such
      conversion.

     

     

    (f)  Interest
      Calculation.  All interest hereunder shall be computed on the
      basis of a year of 360 days, except that interest computed by reference to
      the
      Alternate Base Rate and interest with respect to GBP Revolving Loans and GBP
      Term Loans shall be computed on the basis of a year of 365 days (or 366 days
      in
      a leap year), and in each case shall be payable for the actual number of days
      elapsed (including the first day but excluding the last day).  The
      applicable Alternate Base Rate, Adjusted LIBOR Rate or EURIBOR Rate shall be
      determined by the Administrative Agent in accordance with the provisions of
      this
      Agreement and such determination shall be conclusive absent manifest
      error.

     

     

    (g)  Currency
      for Payment of Interest.  All interest paid or payable
      pursuant to this Section 2.06 shall be paid in the Approved Currency in
      which the Loan giving rise to such interest is denominated.

     

     

    Section
      2.07  Termination
      and Reduction of Commitments.

     

    (a)  Termination
      of Commitments.  The Term Loan Commitments shall automatically
      terminate at 5:00 p.m., New York City time, on the Closing Date.  The
      Revolving Commitments, the Swingline Commitment and the LC Commitment shall
      automatically terminate on the Revolving Maturity Date.

     

     

    (b)  Optional
      Terminations and Reductions.  At its option, Borrower may at any
      time terminate, or from time to time permanently reduce, the Revolving
      Commitments; provided that (i) each reduction of the Revolving
      Commitments shall be in an amount that is an integral multiple of $5.0 million
      and not less than $10.0 million and (ii) the Revolving Commitments shall not
      be
      terminated or reduced if, after giving effect to any concurrent prepayment
      of
      the Revolving Loans in accordance with Section 2.10, the aggregate amount
      of Revolving Exposures would exceed the aggregate amount of Revolving
      Commitments.

     

     

    (c)  Borrower
      Notice.  Borrower shall notify the Administrative Agent in writing
      of any election to terminate or reduce the Commitments under Section
      2.07(b) at least three Business Days prior to the effective date of such
      termination or reduction, specifying such election and the effective date
      thereof.  Promptly following receipt of any notice, the Administrative
      Agent shall advise the Lenders of the contents thereof.  Each notice
      delivered by Borrower pursuant to this Section shall be irrevocable;
provided that a notice of termination of the Commitments delivered by
      Borrower may state that such notice is conditioned upon the effectiveness of
      other credit facilities, in which case such notice may be revoked by Borrower
      (by notice to the Administrative Agent on or prior to the specified effective
      date) if such condition is not satisfied.  Any termination or
      reduction of the Revolving Commitments shall be permanent.  Each
      reduction of the Revolving Commitments shall be made ratably among the Lenders
      in accordance with their respective Revolving Commitments.

     

     

    Section
      2.08  Interest
      Elections

     

    (a)  Generally.  Each
      Borrowing of Dollar Loans initially shall be of the Type specified in the
      applicable Borrowing Request and, in the case of a Eurocurrency Borrowing,
      shall
      have an initial Interest Period as specified in such Borrowing Request (which
      shall be a period permitted by the definition of the term “Interest
      Period”).  Thereafter, Borrower may elect to convert such Borrowing to
      a different Type or to continue such Borrowing and, in the case of a
      Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided
      in
      this Section.  Each Borrowing of Euro Loans shall be a EURIBOR
      Borrowing and shall have an initial Interest Period as specified in such
      Borrowing Request (which shall be a period permitted by the definition of the
      term “Interest Period”); thereafter, Borrower may elect Interest Periods
      therefor, all as provided in this Section.  Each Borrowing of GBP
      Loans shall be a Eurocurrency Borrowing and shall have an initial Interest
      Period as specified in such Borrowing Request (which shall be a period permitted
      by the definition of the term “Interest Period”); thereafter, Borrower may elect
      Interest Periods therefor, all as provided in this
      Section.  Borrowings consisting of Alternate Currency Loans may not be
      converted to a different Type.  Borrower may elect different options
      with respect to different portions of the affected Borrowing, in which case
      each
      such portion shall be allocated ratably among the Lenders holding the Loans
      comprising such Borrowing, and the Loans comprising each such portion shall
      be
      considered a separate Borrowing.  Notwithstanding anything to the
      contrary, Borrower shall not be entitled to request any conversion or
      continuation that, if made, would result in more than (i)
      ten Eurocurrency Borrowings of Dollar Loans, (ii) five
      Eurocurrency Borrowings of GBP Loans or (iii) ten EURIBOR Borrowings outstanding
      hereunder at any one time.  This Section shall not apply to Swingline
      Borrowings, which may not be converted or continued.

     

     

    (b)  Interest
      Election Notice.  To make an election pursuant to this Section,
      Borrower shall deliver, by hand delivery, telecopier or electronic mail, a
      duly
      completed and executed Interest Election Request to the Administrative Agent
      not
      later than the time that a Borrowing Request would be required under Section
      2.03 if Borrower were requesting a Revolving Borrowing or Term Borrowing of
      the Type resulting from such election to be made on the effective date of such
      election.  Each Interest Election Request shall be
      irrevocable.  Each Interest Election Request shall specify the
      following information in compliance with Section 2.02:

     

     

    (i)  the
      Borrowing to which such Interest Election Request applies and, if different
      options are being elected with respect to different portions thereof, or if
      outstanding Borrowings are being combined, allocation to each resulting
      Borrowing (in which case the information to be specified pursuant to clauses
      (iii) and (iv) below shall be specified for each resulting
      Borrowing);

     

     

    (ii)  the
      effective date of the election made pursuant to such Interest Election Request,
      which shall be a Business Day;

     

     

    (iii)  in
      the
      case of a Borrowing consisting of Dollar Loans, whether the resulting Borrowing
      is to be an ABR Borrowing or a Eurocurrency Borrowing;

     

     

    (iv)  if
      the
      relevant Borrowing is a Eurocurrency Borrowing or a EURIBOR Borrowing, the
      Interest Period to be applicable thereto after giving effect to such election,
      which shall be a period permitted by the definition of the term “Interest
      Period”; and

     

     

    (v)  in
      the
      case of a Borrowing consisting of Alternate Currency Loans, the Alternate
      Currency of such Borrowing.

     

     

    If
      any
      such Interest Election Request requests a Eurocurrency Borrowing or a
      continuation of a Eurocurrency Borrowing or a EURIBOR Borrowing but does not
      specify an Interest Period, then Borrower shall be deemed to have selected
      an
      Interest Period of one month’s duration.

     

     

    Promptly
      following receipt of an Interest Election Request, the Administrative Agent
      shall advise each Lender of the details thereof and of such Lender’s portion of
      each resulting Borrowing.

     

     

    (c)  Automatic
      Conversion to ABR Borrowing; Automatic Continuation.  If an
      Interest Election Request with respect to a Eurocurrency Borrowing of Dollar
      Loans is not timely delivered prior to the end of the Interest Period applicable
      thereto, then, unless such Borrowing is repaid as provided herein, at the end
      of
      such Interest Period such Borrowing shall be converted to an ABR
      Borrowing.  If an Interest Election Request with respect to a
      Eurocurrency Borrowing of GBP Loans or a EURIBOR Borrowing is not timely
      delivered prior to the end of the Interest Period applicable thereto, then,
      unless such Borrowing is repaid as provided herein, Borrower shall be deemed
      to
      have delivered an Interest Election Request requesting an Interest Period of
      one
      month’s duration.  Notwithstanding any contrary provision hereof, if
      an Event of Default has occurred and is continuing, the Administrative Agent
      or
      the Required Lenders may require, by notice to Borrower, that (i) no outstanding
      Borrowing of Dollar Loans may be converted to or continued as a Eurocurrency
      Borrowing and (ii) unless repaid, each Eurocurrency Borrowing of Dollar Loans
      shall be converted to an ABR Borrowing at the end of the Interest Period
      applicable thereto.

     

     

    (d)  No
      Discharge, etc.  For greater certainty, and notwithstanding any of
      the foregoing, no conversion hereunder shall be or be deemed to be a discharge,
      rescission, extinguishment, novation, issue, repayment, advance, disposition
      or
      substitution of any Loan and any Loan so converted shall continue to be the
      same
      obligation and not a new obligation.

     

     

    Section
      2.09  Amortization
      of Term Borrowings

     

    .  Borrower
      shall pay to the Administrative Agent, for the account of the Lenders, on the
      dates set forth on Annex II, or if any such date is not a Business Day,
      on the immediately preceding Business Day (each such date, a “Term Loan
      Repayment Date”), a principal amount of the Dollar Term Loans, the Euro
      Term Loans and the GBP Term Loans equal to the amount set forth on Annex
      II for such date (as adjusted from time to time pursuant to Section
      2.10(g)), together in each case with accrued and unpaid interest on the
      principal amount to be paid to but excluding the date of such
      payment.  To the extent not previously paid, all Term Loans shall be
      due and payable on the Term Loan Maturity Date, together with accrued and unpaid
      interest on the principal amount to be paid to but excluding the date of such
      payment.

     

     

    Section
      2.10  Optional
      and Mandatory Prepayments of Loans

     

    (a)  Optional
      Prepayments.  Borrower shall have the right at any time and from
      time to time to prepay any Borrowing, in whole or in part, subject to the
      requirements of this Section 2.10; provided that each partial
      prepayment of (i) any Borrowing of Dollar Loans shall be in an amount that
      is an
      integral multiple of $5.0 million and not less than $10.0 million, (ii) any
      Borrowing of Euro Loans shall be in an amount that is an integral multiple
      of
€5.0 million and not less than €10.0 million and (iii) any Borrowing of GBP
      Loans shall be in an amount that is an integral multiple of £2.5 million and not
      less than £5.0 million or, in each case, if less, the outstanding principal
      amount of such Borrowing.

     

     

    (b)  Revolving
      Loan Prepayments.

     

     

    (i)  In
      the
      event of the termination of all the Revolving Commitments, Borrower shall,
      on
      the date of such termination, repay or prepay all its outstanding Revolving
      Borrowings and all outstanding Swingline Loans and replace all outstanding
      Letters of Credit or cash collateralize all outstanding Letters of Credit in
      accordance with the procedures set forth in Section 2.18(i).

     

     

    (ii)  In
      the
      event of any partial reduction of the Revolving Commitments, then (x) at or
      prior to the effective date of such reduction, the Administrative Agent shall
      notify Borrower and the Revolving Lenders of the sum of the Revolving Exposures
      after giving effect thereto and (y) if the sum of the Revolving Exposures would
      exceed the aggregate amount of Revolving Commitments after giving effect to
      such
      reduction, then Borrower shall, on the date of such reduction, first,
      repay or prepay Swingline Loans, second, repay or prepay Revolving
      Borrowings and third, replace outstanding Letters of Credit or cash
      collateralize outstanding Letters of Credit in accordance with the procedures
      set forth in Section 2.18(i), in an aggregate amount sufficient to
      eliminate such excess.

     

     

    (iii)  In
      the
      event that the sum of all Lenders’ Revolving Exposures exceeds the Revolving
      Commitments then in effect (including on any date on which Dollar Equivalents
      are determined pursuant to Section 10.17), Borrower shall, within one
      Business Day of demand, first, repay or prepay Revolving Borrowings, and second,
      replace outstanding Letters of Credit or cash collateralize outstanding Letters
      of Credit in accordance with the procedures set forth in Section 2.18(i),
      in an aggregate amount sufficient to eliminate such excess; provided
      that to the extent such excess results solely by reason of a change in exchange
      rates, unless a Default or an Event of Default has occurred and is continuing,
      Borrower shall not be required to make such repayment or prepayment or
      replacement or cash collateralization unless the amount of such excess causes
      the sum of all Lenders’ Revolving Exposures to exceed the Revolving Commitments
      then in effect by more than 105%.

     

     

    (iv)  In
      the
      event that the aggregate LC Exposure exceeds the LC Commitment then in effect
      (including on any date on which Dollar Equivalents are determined pursuant
      to
Section 10.17), Borrower shall, within one Business Day of demand,
      replace outstanding Letters of Credit or cash collateralize outstanding Letters
      of Credit in accordance with the procedures set forth in Section 2.18(i),
      in an aggregate amount sufficient to eliminate such excess; provided
      that to the extent such excess results solely by reason of a change in exchange
      rates, unless a Default or an Event of Default has occurred and is continuing,
      Borrower shall not be required to make such replacement or cash
      collateralization unless the amount of such excess causes the aggregate LC
      Exposure to exceed the LC Commitment then in effect by more than
      105%.

     

     

    (c)  Asset
      Sales.  Not later than five Business Days following the receipt of
      any Net Cash Proceeds of any Asset Sale by Borrower or any of its Subsidiaries,
      Borrower shall make prepayments in accordance with Sections
      2.10(g) and (h) in an aggregate amount
      equal to 100% of such Net Cash Proceeds; provided that:

     

     

    (i)  no
      such
      prepayment shall be required under this Section 2.10(c) with
      respect to (A) any Asset Sale permitted by Section 6.06(a), (c),
(d), (e) or (f), (B) the disposition of property which
      constitutes a Casualty Event, or (C) Asset Sales for fair market value resulting
      in no more than $5.0 million in Net Cash Proceeds per Asset Sale (or series
      of
      related Asset Sales) and less than $10.0 million in Net Cash Proceeds in the
      aggregate in any fiscal year for all such Asset Sales described in this clause
      (C);

     

     

    (ii)  so
      long
      as no Default shall then exist or would arise therefrom and the aggregate of
      such Net Cash Proceeds of Asset Sales shall not exceed $50.0 million in any
      fiscal year of Borrower, such proceeds otherwise required to be applied to
      make
      prepayments under this Section 2.10(c) shall not be required to be so
      applied on such date to the extent that Borrower shall have delivered an
      Officer’s Certificate to the Administrative Agent on or prior to such date
      stating that such Net Cash Proceeds are expected to be reinvested in fixed
      or
      capital assets within 365 days following the date of such Asset Sale (which
      Officer’s Certificate shall set forth the estimates of the proceeds to be so
      expended); provided that if all or any portion of such Net Cash
      Proceeds is not so reinvested within such 365-day period, such unused portion
      shall be applied on the last day of such period as a mandatory prepayment as
      provided in this Section 2.10(c); and provided, further, that if
      the property subject to such Asset Sale constituted Collateral, then all
      property purchased with the Net Cash Proceeds thereof pursuant to this
      subsection shall be made subject to the Lien of the applicable Security
      Documents in favor of the Collateral Agent, for its benefit and for the benefit
      of the other Secured Parties in accordance with Sections 5.10 and
5.11; and

     

     

    (iii)  the
      foregoing clauses (i) and (ii) shall not apply to the Net Cash Proceeds of
      the
      sale of the Sullivan Road Property (and any improvements thereon).

     

     

    (d)  Debt
      Issuance or Preferred Stock Issuance.  Not later than five
      Business Days following the receipt of any Net Cash Proceeds of any Debt
      Issuance or Preferred Stock Issuance by Borrower or any of its Subsidiaries,
      Borrower shall make prepayments in accordance with Sections
      2.10(g) and (h) in an aggregate amount
      equal to 100% of such Net Cash Proceeds.

     

     

    (e)  Casualty
      Events.  Not later than five Business Days following the receipt
      of any Net Cash Proceeds from a Casualty Event by Borrower or any of its
      Subsidiaries, Borrower shall make prepayments in accordance with Sections
      2.10(g) and (h) in an aggregate amount
      equal to 100% of such Net Cash Proceeds; provided that:

     

     

    (i)  so
      long
      as no Default shall then exist or arise therefrom, such proceeds shall not
      be
      required to be so applied on such date to the extent that Borrower shall have
      delivered an Officer’s Certificate to the Administrative Agent on or prior to
      such date stating that such proceeds are expected to be used to repair, replace
      or restore any property in respect of which such Net Cash Proceeds were paid
      or
      to reinvest in other fixed or capital assets, no later than 365 days following
      the date of receipt of such proceeds or, so long as Borrower is diligently
      pursuing efforts to repair, replace or restore such property, no later than
      such
      later date as may be reasonably necessary to permit the repair, replacement
      or
      restoration such property; provided that if the property subject to
      such Casualty Event constituted Collateral under the Security Documents, then
      all property purchased with the Net Cash Proceeds thereof pursuant to this
      subsection shall be made subject to the Lien of the applicable Security
      Documents in favor of the Collateral Agent, for its benefit and for the benefit
      of the other Secured Parties in accordance with Sections 5.10 and
5.11; and

     

     

    (ii)  if
      any
      portion of such Net Cash Proceeds shall not be so applied within such 365-day
      period, or within such later period as may be permitted pursuant to clause
      (i)
      above, or if Borrower has abandoned efforts to repair, replace or restore the
      property in respect of which such Net Cash Proceeds were paid, such unused
      portion shall be applied on the last day of such period as a mandatory
      prepayment as provided in this Section
      2.10(e).

     

     

    (f)  Excess
      Cash Flow.  No later than 90 days after the end of each Excess
      Cash Flow Period, Borrower shall make prepayments in accordance with Sections
      2.10(g) and (h) in an aggregate amount
      (which amount shall not be less than zero) equal to (A) 50% of Excess Cash
      Flow
      for the Excess Cash Flow Period then ended minus (B) any voluntary
      prepayments of Term Loans and any permanent voluntary reductions to the
      Revolving Commitments to the extent that an equal amount of the Revolving Loans
      simultaneously is repaid during such Excess Cash Flow Period (other than any
      such voluntary payments or repayments financed with the proceeds of
      Indebtedness); provided that such percentage (the “ECF
      Percentage”) shall be 25% if the Total Leverage Ratio as of the last
      day of such Excess Cash Flow Period was less than 3.0 to 1.0.

     

     

    (g)  Application
      of Prepayments.  Prior to any optional or mandatory prepayment
      hereunder, Borrower shall select the Borrowing or Borrowings to be prepaid
      and
      shall specify such selection in the notice of such prepayment pursuant to
Section 2.10(h), subject to the provisions of this
Section 2.10(g).  In the event of any mandatory
      prepayment of Term Borrowings made at a time when Term Borrowings of more than
      one Class remain outstanding, the aggregate amount of such prepayment shall
      be
      allocated first among the Dollar Term Loans, Euro Term Loans and GBP Term Loans
      pro rata based on the aggregate principal amount of outstanding
      Borrowings of each such Class.  Any prepayments of Term Loans pursuant
      to Section 2.10(a), (c), (d), (e) or
(f) shall
      be applied to reduce scheduled prepayments
      required under Section 2.09 on a pro rata basis among the
      prepayments remaining to be made on each Term Loan Repayment
      Date.  After application of mandatory prepayments of Term Loans
      described above in this Section 2.10(g) and to the extent
      there are mandatory prepayment amounts remaining after such application, (i)
      in
      the case of any such mandatory prepayments pursuant to Section 2.10(c),
      the Revolving Commitments shall be permanently reduced ratably among the
      Revolving Lenders in accordance with their applicable Revolving Commitments
      in
      an aggregate amount equal to such excess, and Borrower shall comply with
Section 2.10(b) and (ii) in the case of any other such mandatory
      prepayments, Borrower shall apply such prepayments first, to repay or
      prepay Swingline Loans, second, repay or prepay Revolving
      Borrowings and third, to replace outstanding Letters of
      Credit or cash collateralize outstanding Letters of Credit in accordance with
      the procedures set forth in Section 2.18(i).  Amounts to be
      applied pursuant to this Section 2.10 to the prepayment of Dollar Loans
      shall be applied, as applicable, first to reduce outstanding Dollar Loans that
      are ABR Term Loans and ABR Revolving Loans, respectively.  Any amounts
      remaining after each such application shall be applied to prepay Dollar Loans
      that are Eurocurrency Term Loans or Eurocurrency Revolving Loans, as
      applicable.

     

     

    Notwithstanding
      the foregoing:

     

     

    (i)  if
      the
      amount of any prepayments of Dollar Loans required under this Section
      2.10 shall be in excess of the amount of such Dollar Loans that are ABR
      Loans at the time outstanding (an “Excess Amount”), only the
      portion of the amount of such prepayment as is equal to the amount of such
      outstanding ABR Loans shall be immediately prepaid and, at the election of
      Borrower, the Excess Amount shall be either (A) deposited in an escrow account
      on terms satisfactory to the Collateral Agent and applied to the prepayment
      of
      such Dollar Loans that are Eurocurrency Loans on the last day of the then
      next-expiring Interest Period for such Eurocurrency Loans; provided
      that (x) interest in respect of such Excess Amount shall continue to accrue
      thereon at the rate provided hereunder for the Loans which such Excess Amount
      is
      intended to repay until such Excess Amount shall have been used in full to
      repay
      such Loans and (y) at any time while a Default has occurred and is continuing,
      the Administrative Agent may, and upon written direction from the Required
      Lenders shall, apply any or all proceeds then on deposit to the payment of
      such
      Loans in an amount equal to such Excess Amount or (B) prepaid immediately,
      together with any amounts owing to the Lenders under Section
      2.13;

     

     

    (ii)  if
      any
      prepayment of Euro Loans required under this Section 2.10 would (without
      giving effect to this sentence) be required to be made prior to the last day
      of
      the then current Interest Period therefor, at the election of Borrower, such
      prepayment amount shall be either (A) deposited in an escrow account on terms
      satisfactory to the Collateral Agent and applied to the prepayment of such
      Euro
      Loans on the last day of the then next-expiring Interest Period therefor;
provided that (x) interest in respect of such prepayment amount shall
      continue to accrue thereon at the rate provided hereunder for the Euro Loans
      which such prepayment amount is intended to repay until such prepayment amount
      shall have been used in full to repay such Loans and (y) at any time while
      a
      Default has occurred and is continuing, the Administrative Agent may, and upon
      written direction from the Required Lenders shall, apply any or all proceeds
      then on deposit to the payment of such Loans in an amount equal to such
      prepayment amount or (B) prepaid immediately, together with any amounts owing
      to
      the Lenders under Section 2.13; and

     

     

    (iii)  if
      any
      prepayment of GBP Loans required under this Section 2.10 would (without
      giving effect to this sentence) be required to be made prior to the last day
      of
      the then current Interest Period therefor, at the election of Borrower, such
      prepayment amount shall be either (A) deposited in an escrow account on terms
      satisfactory to the Collateral Agent and applied to the prepayment of such
      GBP
      Loans on the last day of the then next-expiring Interest Period therefor;
provided that (x) interest in respect of such prepayment amount shall
      continue to accrue thereon at the rate provided hereunder for the GBP Loans
      which such prepayment amount is intended to repay until such prepayment amount
      shall have been used in full to repay such Loans and (y) at any time while
      a
      Default has occurred and is continuing, the Administrative Agent may, and upon
      written direction from the Required Lenders shall, apply any or all proceeds
      then on deposit to the payment of such Loans in an amount equal to such
      prepayment amount or (B) prepaid immediately, together with any amounts owing
      to
      the Lenders under Section 2.13.

     

     

    (h)  Notice
      of Prepayment.  Borrower shall notify the Administrative Agent
      (and, in the case of prepayment of a Swingline Loan, the Swingline Lender)
      by
      written notice of any prepayment hereunder (i) in the case of prepayment of
      a
      Eurocurrency Borrowing or a EURIBOR Borrowing, not later than 11:00 a.m., Local
      Time, three Business Days before the date of prepayment and (ii) in the case
      of
      prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time,
      on the date of prepayment.  Each such notice shall be irrevocable;
provided that, if a notice of prepayment is given in connection with a
      conditional notice of termination of the Commitments as contemplated by
Section 2.07, then such notice of prepayment may be revoked if such
      termination is revoked in accordance with Section 2.07.  Each
      such notice shall specify the prepayment date, the principal amount of each
      Borrowing or portion thereof to be prepaid and, in the case of a mandatory
      prepayment, a reasonably detailed calculation of the amount of such
      prepayment.  Promptly following receipt of any such notice (other than
      a notice relating solely to Swingline Loans), the Administrative Agent shall
      advise the Lenders of the contents thereof.  Each partial prepayment
      of any Borrowing shall be in an amount that would be permitted in the case
      of a
      Credit Extension of the same Type as provided in Section 2.02, except as
      necessary to apply fully the required amount of a mandatory
      prepayment.  Each prepayment of a Borrowing shall be applied ratably
      to the Loans included in the prepaid Borrowing and otherwise in accordance
      with
      this Section 2.10.  Prepayments shall be accompanied by accrued
      interest to the extent required by Section 2.06.

     

     

    Section
      2.11  Alternate
      Rate of Interest

     

    .  If
      prior to the commencement of any Interest Period for a Eurocurrency
      Borrowing:

     

     

    (a)  the
      Administrative Agent determines (which determination shall be final and
      conclusive absent manifest error) that adequate and reasonable means do not
      exist for ascertaining the Adjusted LIBOR Rate or the Adjusted EURIBOR Rate
      for
      any Borrowing for such Interest Period or that any applicable Alternate Currency
      is not available to the Lenders in sufficient amounts to fund any Borrowing
      consisting of applicable Alternate Currency Loans; or

     

     

    (b)  the
      Administrative Agent is advised in writing by the Required Lenders that the
      Adjusted LIBOR Rate or the Adjusted EURIBOR Rate for any Borrowing for such
      Interest Period will not adequately and fairly reflect the cost to such Lenders
      of making or maintaining their Loans included in such Borrowing for such
      Interest Period;

     

     

    then
      the
      Administrative Agent shall give written notice thereof to Borrower and the
      Lenders as promptly as practicable thereafter and, until the Administrative
      Agent notifies Borrower and the Lenders that the circumstances giving rise
      to
      such notice no longer exist, (i) (A) with respect to any such notice relating
      to
      the Adjusted LIBOR Rate applicable to Dollar Loans, any Interest Election
      Request that requests the conversion of any Borrowing of Dollar Loans to a
      Eurocurrency Borrowing, or the continuation of any such Borrowing as, a
      Eurocurrency Borrowing shall be ineffective, (B) with respect to any such notice
      relating to the Adjusted LIBOR Rate applicable to GBP Loans, any Interest
      Election Request that requests the continuation of any Borrowing of GBP Loans
      as
      a Eurocurrency Borrowing shall be ineffective and (C)  with respect to
      any such notice relating to the Adjusted EURIBOR Rate, any Interest Election
      Request that requests the continuation of any Borrowing of Euro Loans shall
      be
      ineffective, (ii) (A) with respect to any such notice relating to the Adjusted
      LIBOR Rate applicable to Dollar Loans, if any Borrowing Request for Dollar
      Loans
      requests a Eurocurrency Borrowing, such Borrowing shall be made as an ABR
      Borrowing, (B) with respect to any such notice relating to the Adjusted LIBOR
      Rate applicable to GBP Loans, any Borrowing Requests for GBP Loans shall not
      be
      effective and (C) with respect to any such notice relating to the Adjusted
      EURIBOR Rate, any Borrowing Requests for Euro Loans shall not be effective,
      and
      (iii) any affected GBP Loans and any affected Euro Loans of any Lender shall
      bear interest at an interest rate per annum (rounded upward, if necessary,
      to
      the nearest 1/100th of 1%) equal to the sum of (x) the rate notified by such
      Lender to the Administrative Agent as soon as practicable and in any event
      before interest is due to be paid in respect of that Interest Period, to be
      that
      which expresses an interest rate per annum (rounded upward, if necessary, to
      the
      nearest 1/100th of 1%) equal to the cost to that Lender of funding such Loans
      from whatever source it may reasonably select, plus (y) the Applicable Margin
      with respect to Term Loans that are Eurocurrency Loans or EURIBOR Loans, plus
      (z) the Mandatory Cost (if any) (provided that if such a notice is
      given, and the Administrative Agent or Borrower so requires, the Administrative
      Agent and Borrower shall enter into negotiations (for a period of not more
      than
      thirty days) with a view to agreeing a substitute basis for determining the
      rate
      of interest on such affected Loans, and any such substitute basis agreed
      pursuant to this proviso shall, with the prior consent of all affected Lenders
      and Borrower, be binding on all parties hereto).

     

    Section
      2.12  Yield
      Protection; Change in Legality

     

    (a)  Increased
      Costs Generally.  If any Change in Law shall:

     

     

    (i)  impose,
      modify or deem applicable any reserve, special deposit, compulsory loan,
      insurance charge or similar requirement against assets of, deposits with or
      for
      the account of, or credit extended or participated in, by any Lender (except
      any
      reserve requirement reflected in the Adjusted LIBOR Rate or the Adjusted EURIBOR
      Rate, as applicable) or the Issuing Bank;

     

     

    (ii)  subject
      any Lender or the Issuing Bank to any tax of any kind whatsoever with respect
      to
      this Agreement, any Letter of Credit, any participation in a Letter of Credit
      or
      any Eurocurrency Loan or EURIBOR Loan made by it, or change the basis of
      taxation of payments to such Lender or the Issuing Bank in respect thereof
      (except for Indemnified Taxes or Other Taxes covered by Section 2.15 and
      the imposition of, or any change in the rate of, any Excluded Tax payable by
      such Lender or the Issuing Bank); or

     

     

    (iii)  impose
      on
      any Lender or the Issuing Bank or the applicable interbank market or any other
      condition, cost or expense affecting this Agreement or Eurocurrency Loans made
      by such Lender or any Letter of Credit or participation therein;

     

     

    and
      the
      result of any of the foregoing shall be to increase the cost to such Lender
      of
      making or maintaining any Eurocurrency Loan or any EURIBOR Loan (or of
      maintaining its obligation to make any such Loan), or to increase the cost
      to
      such Lender, the Issuing Bank or such Lender’s or the Issuing Bank’s holding
      company, if any, of participating in, issuing or maintaining any Letter of
      Credit (or of maintaining its obligation to participate in or to issue any
      Letter of Credit), or to reduce the amount of any sum received or receivable
      by
      such Lender or the Issuing Bank hereunder (whether of principal, interest or
      any
      other amount), then, upon request of such Lender or the Issuing Bank, Borrower
      will pay to such Lender or the Issuing Bank, as the case may be, such additional
      amount or amounts as will compensate such Lender or the Issuing Bank, as the
      case may be, for such additional costs incurred or reduction
      suffered.

     

     

    (b)  Capital
      Requirements.  If any Lender or the Issuing Bank determines (in
      good faith, but in its sole absolute discretion) that any Change in Law
      affecting such Lender or the Issuing Bank or any lending office of such Lender
      or such Lender’s or the Issuing Bank’s holding company, if any, regarding
      capital requirements has or would have the effect of reducing the rate of return
      on such Lender’s or the Issuing Bank’s capital or on the capital of such
      Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this
      Agreement, the Commitments of such Lender or the Loans made by, or
      participations in Letters of Credit held by, such Lender, or the Letters of
      Credit issued by the Issuing Bank, to a level below that which such Lender
      or
      the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could
      have achieved but for such Change in Law (taking into consideration such
      Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the
      Issuing Bank’s holding company with respect to capital adequacy), then from time
      to time Borrower will pay to such Lender or the Issuing Bank, as the case may
      be, such additional amount or amounts as will compensate such Lender or the
      Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such
      reduction suffered.

     

     

    (c)  Certificates
      for Reimbursement.  A certificate of a Lender or the Issuing Bank
      setting forth the amount or amounts necessary to compensate such Lender or
      the
      Issuing Bank or its holding company, as the case may be, as specified in
      paragraph (a) or (b) of this Section 2.12 and delivered to Borrower shall
      be conclusive absent manifest error.  Borrower shall pay such Lender
      or the Issuing Bank, as the case may be, the amount shown as due on any such
      certificate within 10 days after receipt thereof.

     

     

    (d)  Delay
      in Requests.  Failure or delay on the part of any Lender or the
      Issuing Bank to demand compensation pursuant to this Section 2.12 shall
      not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand
      such compensation; provided that Borrower shall not be required to
      compensate a Lender or the Issuing Bank pursuant to this Section for any
      increased costs incurred or reductions suffered more than nine months prior
      to
      the date that such Lender or the Issuing Bank, as the case may be, notifies
      Borrower of the Change in Law giving rise to such increased costs or reductions
      and of such Lender’s or the Issuing Bank’s intention to claim compensation
      therefor (except that, if the Change in Law giving rise to such increased costs
      or reductions is retroactive, then the nine-month period referred to above
      shall
      be extended to include the period of retroactive effect thereof).

     

     

    (e)  Change
      in Legality Generally.  Notwithstanding any other provision
      of this Agreement, if any Change in Law shall make it unlawful for any Lender
      to
      make or maintain any Eurocurrency Loan or any EURIBOR Loan, or to give effect
      to
      its obligations as contemplated hereby with respect to any Eurocurrency Loan
      or
      any EURIBOR Loan, then, upon written notice by such Lender to Borrower and
      the
      Administrative Agent:

     

     

    (i)  the
      Commitments of such Lender (if any) shall immediately terminate;

     

     

    (ii)  in
      the
      case of Dollar Loans, (x) such Lender may declare that Eurocurrency Loans will
      not thereafter (for the duration of such unlawfulness) be continued for
      additional Interest Periods and ABR Loans will not thereafter (for such
      duration) be converted into Eurocurrency Loans, whereupon any request to convert
      an ABR Borrowing to a Eurocurrency Borrowing or to continue a Eurocurrency
      Borrowing for an additional Interest Period shall, as to such Lender only,
      be
      deemed a request to continue an ABR Loan as such, or to convert a Eurocurrency
      Loan into an ABR Loan, as the case may be, unless such declaration shall be
      subsequently withdrawn and (y) all such outstanding Eurocurrency Loans made
      by
      such Lender shall be automatically converted to ABR Loans on the last day of
      the
      then current Interest Period therefor or, if earlier, on the date specified
      by
      such Lender in such notice (which date shall be no earlier than the last day
      of
      any applicable grace period permitted by applicable law); and

     

     

    (iii)  in
      the
      case of Eurocurrency Loans that are GBP Loans or EURIBOR Loans, Borrower shall
      repay all such outstanding Eurocurrency Loans or EURIBOR Loans, as the case
      may
      be, of such Lender on the last day of the then current Interest Period therefor
      or, if earlier, on the date specified by such Lender in such notice (which
      date
      shall be no earlier than the last day of any applicable grace period permitted
      by applicable law).

     

     

    (f)  Change
      in Legality in Relation to Issuing Bank.  Notwithstanding any
      other provision of this Agreement, if any Change in Law shall make it unlawful
      for any Issuing Bank to issue or allow to remain outstanding any Letter of
      Credit, then, by written notice to Borrower and the Administrative
      Agent:

     

     

    (i)  such
      Issuing Bank shall no longer be obligated to issue any Letters of Credit;
      and

     

     

    (ii)  Borrower
      shall use its commercially reasonable best efforts to procure the release of
      each outstanding Letter of Credit issued by such Issuing Bank.

     

    Section
      2.13  Breakage
      Payments

     

    .  In
      the event of (a) the payment or prepayment, whether optional or mandatory,
      of
      any principal of any Eurocurrency Loan or EURIBOR Loan earlier than the last
      day
      of an Interest Period applicable thereto (including as a result of an Event
      of
      Default), (b) the conversion of any Eurocurrency Loan or EURIBOR Loan earlier
      than the last day of the Interest Period applicable thereto, (c) the failure
      to
      borrow, convert, continue or prepay any Revolving Loan or Term Loan on the
      date
      specified in any notice delivered pursuant hereto or (d) the assignment of
      any
      Eurocurrency Loan or EURIBOR Loan earlier than the last day of the Interest
      Period applicable thereto as a result of a request by Borrower pursuant to
      Section 2.16(b), then, in any such event, Borrower shall compensate each
      Lender for the loss, cost and expense attributable to such event.  In
      the case of a Eurocurrency Loan or EURIBOR Loan, such loss, cost or expense
      to
      any Lender shall be deemed to include an amount determined by such Lender to
      be
      the excess, if any, of (i) the amount of interest which would have accrued
      on
      the principal amount of such Loan had such event not occurred, at the Adjusted
      LIBOR Rate or the Adjusted EURIBOR Rate that would have been applicable to
      such
      Loan, for the period from the date of such event to the last day of the then
      current Interest Period therefor (or, in the case of a failure to borrow,
      convert or continue, for the period that would have been the Interest Period
      for
      such Loan), over (ii) the amount of interest which would accrue on such
      principal amount for such period at the interest rate which such Lender would
      bid were it to bid, at the commencement of such period, for Dollar deposits
      of a
      comparable amount and period from other banks in the applicable interbank
      market.  A certificate of any Lender setting forth in reasonable
      detail any amount or amounts that such Lender is entitled to receive pursuant
      to
      this Section 2.13 shall be delivered to Borrower (with a copy to the
      Administrative Agent) and shall be conclusive and binding absent manifest
      error.  Borrower shall pay such Lender the amount shown as due on any
      such certificate within five days after receipt thereof.

     

    Section
      2.14  Payments
      Generally; Pro Rata Treatment; Sharing of Setoffs

     

    (a)  Payments
      Generally.  Borrower shall make each payment required to be made
      by it hereunder or under any other Loan Document (whether of principal,
      interest, fees or Reimbursement Obligations, or of amounts payable under
Section 2.12, 2.13, 2.15 or 10.03, or otherwise) on
      or before the time expressly required hereunder or under such other Loan
      Document for such payment (or, if no such time is expressly required, prior
      to
      2:00 p.m., Local Time), on the date when due, in immediately available funds,
      without setoff, deduction or counterclaim.  Any amounts received after
      such time on any date may, in the discretion of the Administrative Agent, be
      deemed to have been received on the next succeeding Business Day for purposes
      of
      calculating interest thereon.  All such payments shall be made to the
      Administrative Agent at its offices at Wells Fargo Bank, 1700 Lincoln, Denver,
      CO 80203, except payments to be made directly to the Issuing Bank or Swingline
      Lender as expressly provided herein and except that payments pursuant to
Sections 2.12, 2.13, 2.15 and 10.03 shall be made
      directly to the persons entitled thereto and payments pursuant to other Loan
      Documents shall be made to the persons specified therein.  The
      Administrative Agent shall distribute any such payments received by it for
      the
      account of any other person to the appropriate recipient promptly following
      receipt thereof.  If any payment under any Loan Document shall be due
      on a day that is not a Business Day, unless specified otherwise, the date for
      payment shall be extended to the next succeeding Business Day, and, in the
      case
      of any payment accruing interest, interest thereon shall be payable for the
      period of such extension.  All payments under each Loan Document shall
      be made in Dollars, except as expressly specified otherwise.

     

     

    (b)  Pro
      Rata Treatment.

     

     

    (i)  Each
      payment by Borrower of interest in respect of the Loans shall be applied to
      the
      amounts of such obligations owing to the Lenders pro rata
      according to the respective amounts then due and owing to the
      Lenders.

     

     

    (ii)  Each
      payment on account of principal of the Term Loans shall be allocated among
      the
      Term Loan Lenders pro rata based on the principal amount of the Term
      Loans held by the Term Loan Lenders.  Each payment by Borrower on
      account of principal of the Revolving Borrowings shall be made pro rata
      according to the respective outstanding principal amounts of the Revolving
      Loans
      then held by the Revolving Lenders.

     

     

    (c)  Insufficient
      Funds.  If at any time insufficient funds are received by and
      available to the Administrative Agent to pay fully all amounts of principal,
      Reimbursement Obligations, interest and fees then due hereunder, such funds
      shall be applied (i) first, toward payment of interest and fees then
      due hereunder, ratably among the parties entitled thereto in accordance with
      the
      amounts of interest and fees then due to such parties, and (ii) second,
      toward payment of principal and Reimbursement Obligations then due hereunder,
      ratably among the parties entitled thereto in accordance with the amounts of
      principal and Reimbursement Obligations then due to such parties.

     

     

    (d)  Sharing
      of Set-Off.  Except to the extent that this Agreement expressly
      provides for or permits payments to be allocated or made to a particular Lender
      and except as may be otherwise expressly provided herein, if any Lender (and/or
      the Issuing Bank, which shall be deemed a “Lender” for purposes of this
Section 2.14(d)) shall, by exercising any right of setoff or counterclaim
      or otherwise, obtain payment in respect of any principal of or interest on
      any
      of its Loans or other Obligations resulting in such Lender’s receiving payment
      of a proportion of the aggregate amount of its Loans and accrued interest
      thereon or other Obligations greater than its pro rata share thereof as
      provided herein, then the Lender receiving such greater proportion shall (a)
      notify the Administrative Agent of such fact, and (b) purchase (for cash at
      face
      value and in the Approved Currency with respect to which such Loans and such
      other obligations are denominated) participations in the Loans and such other
      obligations of the other Lenders, or make such other adjustments as shall be
      equitable, so that the benefit of all such payments shall be shared by the
      Lenders ratably in accordance with the aggregate amount of principal of and
      accrued interest on their respective Loans and other amounts owing them,
provided that:

     

     

    (i)  if
      any
      such participations are purchased and all or any portion of the payment giving
      rise thereto is recovered, such participations shall be rescinded and the
      purchase price restored to the extent of such recovery, without interest;
      and

     

     

    (ii)  the
      provisions of this paragraph shall not be construed to apply to (x) any payment
      made by Borrower pursuant to and in accordance with the express terms of this
      Agreement or (y) any payment obtained by a Lender as consideration for the
      assignment of or sale of a participation in any of its Loans or participations
      in LC Disbursements to any assignee or participant, other than to Borrower
      or
      any Subsidiary thereof (as to which the provisions of this paragraph shall
      apply).

     

     

    Each
      Loan
      Party consents to the foregoing and agrees, to the extent it may effectively
      do
      so under applicable Requirements of Law, that any Lender acquiring a
      participation pursuant to the foregoing arrangements may exercise against such
      Loan Party rights of setoff and counterclaim with respect to such participation
      as fully as if such Lender were a direct creditor of such Loan Party in the
      amount of such participation.  If under applicable bankruptcy,
      insolvency or any similar law any Secured Party receives a secured claim in
      lieu
      of a setoff or counterclaim to which this Section 2.14(d) applies, such
      Secured Party shall to the extent practicable, exercise its rights in respect
      of
      such secured claim in a manner consistent with the rights to which the Secured
      Party is entitled under this Section 2.14(d) to share in the benefits of
      the recovery of such secured claim.

     

     

    (e)  Borrower
      Default.  Unless the Administrative Agent shall have received
      notice from Borrower prior to the date on which any payment is due to the
      Administrative Agent for the account of the Lenders or the Issuing Bank
      hereunder that Borrower will not make such payment, the Administrative Agent
      may
      assume that Borrower has made such payment on such date in accordance herewith
      and may, in reliance upon such assumption, distribute to the Lenders or the
      Issuing Bank, as the case may be, the amount due.  In such event, if
      Borrower has not in fact made such payment, then each of the Lenders and each
      Issuing Bank, as the case may be, severally agrees to repay to the
      Administrative Agent forthwith on demand the amount so distributed to such
      Lender or the Issuing Bank with interest thereon, for each day from and
      including the date such amount is distributed to it to but excluding the date
      of
      payment to the Administrative Agent, at the Interbank Rate for such
      period.

     

     

    (f)  Lender
      Default.  If any Lender shall fail to make any payment required to
      be made by it pursuant to Section 2.02(c), 2.14(e),
2.17(d), 2.18(d), 2.18(e) or 10.03(c), then the
      Administrative Agent may, in its discretion (notwithstanding any contrary
      provision hereof), apply any amounts thereafter received by the Administrative
      Agent for the account of such Lender to satisfy such Lender’s obligations under
      such Sections until all such unsatisfied obligations are fully
      paid.

     

    Section
      2.15  Taxes

     

    (a)  Payments
      Free of Taxes.  Any and all payments by or on account of any
      obligation of the Loan Parties hereunder or under any other Loan Document shall
      be made free and clear of and without reduction or withholding for any
      Indemnified Taxes or Other Taxes; provided that if the Loan Parties
      shall be required by applicable Requirements of Law to deduct any Indemnified
      Taxes (including any Other Taxes) from such payments, then (i) the sum payable
      shall be increased as necessary so that after making all required deductions
      (including deductions applicable to additional sums payable under this Section)
      the Administrative Agent, Lender or Issuing Bank, as the case may be, receives
      an amount equal to the sum it would have received had no such deductions been
      made, (ii) the applicable Loan Party shall make such deductions and (iii) the
      applicable Loan Party shall timely pay the full amount deducted to the relevant
      Governmental Authority in accordance with applicable Requirements of
      Law.

     

     

    (b)  Payment
      of Other Taxes by Borrower.  Without limiting the provisions of
      paragraph (a) above, Borrower shall timely pay any Other Taxes to the relevant
      Governmental Authority in accordance with applicable Requirements of
      Law.

     

     

    (c)  Indemnification
      by Borrower.  Borrower shall indemnify the Administrative Agent,
      each Lender and the Issuing Bank, within 10 days after demand therefor, for
      the
      full amount of any Indemnified Taxes or Other Taxes (including Indemnified
      Taxes
      or Other Taxes imposed or asserted on or attributable to amounts payable under
      this Section) paid by the Administrative Agent, such Lender or the Issuing
      Bank,
      as the case may be, and any penalties, interest and reasonable expenses arising
      therefrom or with respect thereto, whether or not such Indemnified Taxes or
      Other Taxes were correctly or legally imposed or asserted by the relevant
      Governmental Authority.  A certificate as to the amount of such
      payment or liability delivered to Borrower by a Lender or the Issuing Bank
      (with
      a copy to the Administrative Agent), or by the Administrative Agent on its
      own
      behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent
      manifest error.

     

     

    (d)  Evidence
      of Payments.  As soon as practicable after any payment of
      Indemnified Taxes or Other Taxes by Borrower to a Governmental Authority,
      Borrower shall deliver to the Administrative Agent the original or a certified
      copy of a receipt issued by such Governmental Authority evidencing such payment,
      a copy of the return reporting such payment or other evidence of such payment
      reasonably satisfactory to the Administrative Agent.

     

     

    (e)  Status
      of Lenders.  Any Foreign Lender shall, to the extent it may
      lawfully do so, deliver to Borrower and the Administrative Agent (in such number
      of copies as shall be requested by the recipient) on or prior to the date on
      which such Foreign Lender becomes a Lender under this Agreement (and from time
      to time thereafter upon the request of Borrower or the Administrative Agent,
      but
      only if such Foreign Lender is legally entitled to do so), whichever of the
      following is applicable:

     

     

    (i)  duly
      completed copies of Internal Revenue Service Form W-8BEN claiming eligibility
      for benefits of an income tax treaty to which the United States of America
      is a
      party,

     

     

    (ii)  duly
      completed copies of Internal Revenue Service Form W-8ECI,

     

     

    (iii)  in
      the
      case of a Foreign Lender claiming the benefits of the exemption for portfolio
      interest under Section 881(c) of the Code, (x) a certificate, in substantially
      the form of Exhibit Q, or any other form approved by the Administrative Agent,
      to the effect that such Foreign Lender is not (A) a “bank” within the meaning of
      Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of Borrower
      within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled
      foreign corporation” described in Section 881(c)(3)(C) of the Code and (y) duly
      completed copies of  Internal Revenue Service Form W-8BEN,
      or

     

     

    (iv)  any
      other
      form prescribed by applicable Requirements of Law as a basis for claiming
      exemption from or a reduction in United States Federal withholding tax duly
      completed together with such supplementary documentation as may be prescribed
      by
      applicable Requirements of Law to permit Borrower to determine the withholding
      or deduction required to be made.

     

     

    (f)  Treatment
      of Certain Refunds.  If the Administrative Agent, a Lender or the
      Issuing Bank determines, in its sole discretion, that it has received a refund
      of any Indemnified Taxes or Other Taxes as to which it has been indemnified
      by
      Borrower or with respect to which Borrower has paid additional amounts pursuant
      to this Section, it shall pay to Borrower an amount equal to such refund (but
      only to the extent of indemnity payments made, or additional amounts paid,
      by
      Borrower under this Section with respect to the Indemnified Taxes or Other
      Taxes
      giving rise to such refund), net of all out-of-pocket expenses of the
      Administrative Agent, such Lender or the Issuing Bank, as the case may be,
      and
      without interest (other than any interest paid by the relevant Governmental
      Authority with respect to such refund); provided that Borrower, upon
      the request of the Administrative Agent, such Lender or the Issuing Bank, agrees
      to repay the amount paid over to Borrower (plus any penalties, interest or
      other
      charges imposed by the relevant Governmental Authority) to the Administrative
      Agent, such Lender or the Issuing Bank in the event the Administrative Agent,
      such Lender or the Issuing Bank is required to repay such refund to such
      Governmental Authority.  This paragraph shall not be construed to
      require the Administrative Agent, any Lender or the Issuing Bank to make
      available its tax returns (or any other information relating to its taxes that
      it deems confidential) to Borrower or any other
      person.  Notwithstanding anything to the contrary, in no event will
      any Lender be required to pay any amount to Borrower the payment of which would
      place such Lender in a less favorable net after-tax position than such Lender
      would have been in if the additional amounts giving rise to such refund of
      any
      Indemnified Taxes or Other Taxes had never been paid.

     

    Section
      2.16  Mitigation
      Obligations; Replacement of Lenders

     

    (a)  Designation
      of a Different Lending Office.  If any Lender requests
      compensation under Section 2.12, or requires Borrower to pay any
      additional amount to any Lender or any Governmental Authority for the account
      of
      any Lender pursuant to Section 2.15, then such Lender shall use
      reasonable efforts to designate a different lending office for funding or
      booking its Loans hereunder or to assign its rights and obligations hereunder
      to
      another of its offices, branches or affiliates, if, in the judgment of such
      Lender, such designation or assignment (i) would eliminate or reduce amounts
      payable pursuant to Section 2.12 or 2.15, as the case may be, in
      the future and (ii) would not subject such Lender to any unreimbursed cost
      or
      expense and would not otherwise be disadvantageous to such
      Lender.  Borrower hereby agrees to pay all reasonable costs and
      expenses incurred by any Lender in connection with any such designation or
      assignment.  A certificate setting forth such costs and expenses
      submitted by such Lender to Borrower shall be conclusive absent manifest
      error.

     

     

    (b)  Replacement
      of Lenders.   If any Lender requests compensation under
Section 2.12, or if Borrower is required to pay any additional amount to
      any Lender or any Governmental Authority for the account of any Lender pursuant
      to Section 2.15, or if any Lender defaults in its obligation to fund
      Loans hereunder, or if Borrower exercises its replacement rights under
Section 10.02(d), then Borrower may, at its sole expense and effort, upon
      notice to such Lender and the Administrative Agent, require such Lender to
      assign and delegate, without recourse (in accordance with and subject to the
      restrictions contained in, and consents required by, Section 10.04), all
      of its interests, rights and obligations under this Agreement and the other
      Loan
      Documents (or, in the case of the exercise of replacement rights under
Section 10.02(d) as they relate to provisions affecting a particular
      Class, all of its interests, rights and obligations under this Agreement and
      the
      other Loan Documents in respect of such Class) to an Eligible Assignee that
      shall assume such obligations (which assignee may be another Lender, if a Lender
      accepts such assignment); provided that:

     

     

    (i)  Borrower
      shall have paid to the Administrative Agent the processing and recordation
      fee
      specified in Section 10.04(b);

     

     

    (ii)  such
      Lender shall have received payment of an amount equal to the outstanding
      principal of its Loans and participations in LC Disbursements and Swingline
      Loans, accrued interest thereon, accrued fees and all other amounts payable
      to
      it hereunder and under the other Loan Documents (including any amounts under
      Section 2.13) (or, in the case of the exercise of replacement rights
      under Section 10.02(d) as they relate to provisions affecting a
      particular Class, an amount equal to the outstanding principal of its Loans
      and
      participations in LC Disbursements and Swingline Loans, accrued interested
      thereon, accrued fees and all other amounts payable to it hereunder and under
      the other Loan Documents, to the extent applicable, in respect of such Class),
      from the assignee (to the extent of such outstanding principal and accrued
      interest and fees) or Borrower (in the case of all other amounts;

     

     

    (iii)  in
      the
      case of any such assignment resulting from a claim for compensation under
Section 2.12 or payments required to be made pursuant to Section
      2.15, such assignment will result in a reduction in such compensation or
      payments thereafter; and

     

     

    (iv)  such
      assignment does not conflict with applicable Requirements of Law.

     

     

    A
      Lender
      shall not be required to make any such assignment or delegation if, prior
      thereto, as a result of a waiver by such Lender or otherwise, the circumstances
      entitling Borrower to require such assignment and delegation cease to
      apply.

     

    Section
      2.17  Swingline
      Loans

     

    (a)  Swingline
      Commitment.  Subject to the terms and conditions set forth herein,
      the Swingline Lender agrees to make Swingline Loans in Dollars to Borrower
      from
      time to time during the Revolving Availability Period, in an aggregate principal
      amount at any time outstanding that will not result in (i) the aggregate
      principal amount of outstanding Swingline Loans exceeding $15.0 million or
      (ii)
      the sum of the total Revolving Exposures exceeding the total Revolving
      Commitments; provided that the Swingline Lender shall not be required
      to make a Swingline Loan to refinance an outstanding Swingline
      Loan.  Within the foregoing limits and subject to the terms and
      conditions set forth herein, Borrower may borrow, repay and reborrow Swingline
      Loans.

     

     

    (b)  Swingline
      Loans.  To request a Swingline Loan, Borrower shall deliver, by
      hand delivery or telecopier, a duly completed and executed Borrowing Request
      to
      the Administrative Agent and the Swingline Lender, not later than 2:00 p.m.,
      New
      York City time, on the day of a proposed Swingline Loan.  Each such
      notice shall be irrevocable and shall specify the requested date (which shall
      be
      a Business Day) and the amount of the requested Swingline Loan.  Each
      Swingline Loan shall be an ABR Loan.  The Swingline Lender shall make
      each Swingline Loan available to Borrower to an account as directed by Borrower
      in the applicable Borrowing Request maintained with the Administrative Agent
      by
      3:00 p.m., New York City time, on the requested date of such Swingline
      Loan.  Borrower shall not request a Swingline Loan if at the time of
      or immediately after giving effect to the Extension of Credit contemplated
      by
      such request a Default has occurred and is continuing or would result
      therefrom.  Swingline Loans shall be made in minimum amounts of $1.0
      million and integral multiples of $500,000 above such amount.

     

     

    (c)  Prepayment.  Borrower
      shall have the right at any time and from time to time to repay any Swingline
      Loan, in whole or in part, upon giving written notice to the Swingline Lender
      and the Administrative Agent before 12:00 (noon), New York City time, on the
      proposed date of repayment.

     

     

    (d)  Participations.  The
      Swingline Lender may at any time in its discretion by written notice given
      to
      the Administrative Agent (provided such notice requirement shall not
      apply if the Swingline Lender and the Administrative Agent are the same entity)
      not later than 11:00 a.m., New York City time, on the next succeeding Business
      Day following such notice require the Revolving Lenders to acquire
      participations on such Business Day in all or a portion of the Swingline Loans
      then outstanding.  Such notice shall specify the aggregate amount of
      Swingline Loans in which Revolving Lenders will participate.  Promptly
      upon receipt of such notice, the Administrative Agent will give notice thereof
      to each Revolving Lender, specifying in such notice such Lender’s Pro Rata
      Percentage of such Swingline Loan or Loans.  Each Revolving Lender
      hereby absolutely and unconditionally agrees, upon receipt of notice as provided
      above, to pay to the Administrative Agent, for the account of the Swingline
      Lender, such Lender’s Pro Rata Percentage of such Swingline Loan or
      Loans.  Each Revolving Lender acknowledges and agrees that its
      obligation to acquire participations in Swingline Loans pursuant to this
      paragraph is absolute and unconditional and shall not be affected by any
      circumstance whatsoever, including the occurrence and continuance of a Default
      or reduction or termination of the Commitments, and that each such payment
      shall
      be made without any offset, abatement, withholding or reduction whatsoever
      (so
      long as such payment shall not cause such Lender’s Revolving Exposure to exceed
      such Lender’s Revolving Commitment).  Each Revolving Lender shall
      comply with its obligation under this paragraph by wire transfer of immediately
      available funds, in the same manner as provided in Section 2.02(c)
      with respect to Loans made by such Lender (and Section 2.02 shall apply,
mutatis mutandis, to the payment obligations of the Revolving Lenders),
      and the Administrative Agent shall promptly pay to the Swingline Lender the
      amounts so received by it from the Revolving Lenders.  The
      Administrative Agent shall notify Borrower of any participations in any
      Swingline Loan acquired by the Revolving Lenders pursuant to this paragraph,
      and
      thereafter payments in respect of such Swingline Loan shall be made to the
      Administrative Agent and not to the Swingline Lender.  Any amounts
      received by the Swingline Lender from Borrower (or other party on behalf of
      Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender
      of the proceeds of a sale of participations therein shall be promptly remitted
      to the Administrative Agent.  Any such amounts received by the
      Administrative Agent shall be promptly remitted by the Administrative Agent
      to
      the Revolving Lenders that shall have made their payments pursuant to this
      paragraph, as their interests may appear.  The purchase of
      participations in a Swingline Loan pursuant to this paragraph shall not relieve
      Borrower of any default in the payment thereof.

     

    Section
      2.18  Letters
      of Credit

     

    (a)  General.  Subject
      to the terms and conditions set forth herein, Borrower may request the Issuing
      Bank, and the Issuing Bank agrees, to issue Letters of Credit denominated in
      any
      Approved Currency for its own account or the account of a Subsidiary in a form
      reasonably acceptable to the Administrative Agent and the Issuing Bank, at
      any
      time and from time to time during the Revolving Availability Period
      (provided that Borrower shall be a co-applicant, and be jointly and
      severally liable, with respect to each Letter of Credit issued for the account
      of a Subsidiary).  The Issuing Bank shall have no obligation to issue,
      and Borrower shall not request the issuance of, any Letter of Credit at any
      time
      if after giving effect to such issuance, the LC Exposure would exceed the LC
      Commitment or the total Revolving Exposure would exceed the total Revolving
      Commitments.  In the event of any inconsistency between the terms and
      conditions of this Agreement and the terms and conditions of any form of letter
      of credit application or other agreement submitted by Borrower to, or entered
      into by Borrower with, the Issuing Bank relating to any Letter of Credit, the
      terms and conditions of this Agreement shall control.

     

     

    (b)  Request
      for Issuance, Amendment, Renewal, Extension; Certain Conditions and
      Notices.  To request the issuance of a Letter of Credit or the
      amendment, renewal or extension of an outstanding Letter of Credit, Borrower
      shall deliver, by hand or telecopier (or transmit by electronic communication,
      if arrangements for doing so have been approved by the Issuing Bank), an LC
      Request to the Issuing Bank and the Administrative Agent not later than noon,
      Local Time, on the third Business Day preceding the requested date of issuance,
      amendment, renewal or extension (or such later date and time as is acceptable
      to
      the Issuing Bank).

     

     

    A
      request
      for an initial issuance of a Letter of Credit shall specify in form and detail
      satisfactory to the Issuing Bank:

     

     

    (i)  the
      proposed issuance date of the requested Letter of Credit (which shall be a
      Business Day);

     

     

    (ii)  the
      amount and the currency thereof (which shall be any Approved
      Currency);

     

     

    (iii)  the
      expiry date thereof (which shall not be later than the close of business on
      the
      Letter of Credit Expiration Date);

     

     

    (iv)  the
      name
      and address of the beneficiary thereof;

     

     

    (v)  whether
      the Letter of Credit is to be issued for its own account or for the account
      of
      one of its Subsidiaries (provided that Borrower shall be a
      co-applicant, and therefore jointly and severally liable, with respect to each
      Letter of Credit issued for the account of a Subsidiary);

     

     

    (vi)  the
      documents to be presented by such beneficiary in connection with any drawing
      thereunder;

     

     

    (vii)  the
      full
      text of any certificate to be presented by such beneficiary in connection with
      any drawing thereunder; and

     

     

    (viii)  such
      other matters as the Issuing Bank may require.

     

     

    A
      request
      for an amendment, renewal or extension of any outstanding Letter of Credit
      shall
      specify in form and detail satisfactory to the Issuing Bank:

     

     

    (i)  the
      Letter of Credit to be amended, renewed or extended;

     

     

    (ii)  the
      proposed date of amendment, renewal or extension thereof (which shall be a
      Business Day);

     

     

    (iii)  the
      nature of the proposed amendment, renewal or extension; and

     

     

    (iv)  such
      other matters as the Issuing Bank may require.

     

     

    If
      requested by the Issuing Bank, Borrower also shall submit a letter of credit
      application on the Issuing Bank’s standard form in connection with any request
      for a Letter of Credit.  A Letter of Credit shall be issued, amended,
      renewed or extended only if (and, upon issuance, amendment, renewal or extension
      of each Letter of Credit, Borrower shall be deemed to represent and warrant
      that), after giving effect to such issuance, amendment, renewal or extension,
      (i) the LC Exposure shall not exceed the LC Commitment, (ii) the total Revolving
      Exposures shall not exceed the total Revolving Commitments and (iii) the
      conditions set forth in Article IV in respect of such issuance,
      amendment, renewal or extension shall have been satisfied.

     

     

    Upon
      the
      issuance of any Letter of Credit or amendment, renewal, extension or
      modification to a Letter of Credit, the Issuing Bank shall promptly notify
      the
      Administrative Agent, who shall promptly notify each Revolving Lender, thereof,
      which notice shall be accompanied by a copy of such Letter of Credit or
      amendment, renewal, extension or modification to a Letter of Credit and the
      amount of such Lender’s respective participation in such Letter of Credit
      pursuant to Section 2.18(d).  On the first Business Day of each
      calendar month, the Issuing Bank shall provide to the Administrative Agent
      a
      report listing all outstanding Letters of Credit and the amounts and
      beneficiaries thereof and the Administrative Agent shall promptly provide such
      report to each Revolving Lender.

     

     

    (c)  Expiration
      Date.  Each Letter of Credit shall expire at or prior to the close
      of business on the earlier of (i) in the case of a Standby Letter of Credit,
      (x)
      the date which is one year after the date of the issuance of such Standby Letter
      of Credit (or, in the case of any renewal or extension thereof, one year after
      such renewal or extension) and (y) the Letter of Credit Expiration Date and
      (ii)
      in the case of a Commercial Letter of Credit, (x) the date that is 180 days
      after the date of issuance of such Commercial Letter of Credit (or, in the
      case
      of any renewal or extension thereof, 180 days after such renewal or extension)
      and (y) the Letter of Credit Expiration Date.

     

     

    (d)  Participations.  By
      the issuance of a Letter of Credit (or an amendment to a Letter of Credit
      increasing the amount thereof) and without any further action on the part of
      the
      Issuing Bank or the Lenders, the Issuing Bank hereby irrevocably grants to
      each
      Revolving Lender, and each Revolving Lender hereby acquires from the Issuing
      Bank, a participation in such Letter of Credit equal to such Revolving Lender’s
      Pro Rata Percentage of the aggregate amount available to be drawn under such
      Letter of Credit.  In consideration and in furtherance of the
      foregoing, each Revolving Lender hereby absolutely and unconditionally agrees
      to
      pay to the Administrative Agent, for the account of the Issuing Bank, such
      Revolving Lender’s Pro Rata Percentage of each LC Disbursement made by the
      Issuing Bank and not reimbursed by Borrower on the date due as provided in
      Section 2.18(e), or of any reimbursement payment required to be refunded
      to Borrower for any reason.  Each Revolving Lender acknowledges and
      agrees that its obligation to acquire participations pursuant to this paragraph
      in respect of Letters of Credit is absolute and unconditional and shall not
      be
      affected by any circumstance whatsoever, including any amendment, renewal or
      extension of any Letter of Credit or the occurrence and continuance of a Default
      or reduction or termination of the Commitments, or expiration, termination
      or
      cash collateralization of any Letter of Credit and that each such payment shall
      be made without any offset, abatement, withholding or reduction
      whatsoever.

     

     

    (e)  Reimbursement.

     

     

    (i)  If
      the
      Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit,
      Borrower shall reimburse such LC Disbursement by paying to the Issuing Bank
      an
      amount equal to such LC Disbursement not later than 3:00 p.m., Local Time,
      on
      the date that such LC Disbursement is made if Borrower shall have received
      notice of such LC Disbursement prior to 11:00 a.m., Local Time, on such date,
      or, if such notice has not been received by Borrower prior to such time on
      such
      date, then not later than 3:00 p.m., Local Time, on the Business Day immediately
      following the day that Borrower receives such notice; provided that
      notwithstanding the foregoing, (1) Borrower may, subject to the conditions
      to
      borrowing set forth herein, request in accordance with Section 2.03
      (which request shall be made not later than the time such payment would
      otherwise be due pursuant to the foregoing provisions of this clause (i)) that
      such payment be financed with (x) in the case of Letters of Credit denominated
      in Dollars, ABR Revolving Loans or Swingline Loans in an equivalent amount
      and,
      to the extent so financed, Borrower’s obligation to make such payment shall be
      discharged and replaced by the resulting ABR Revolving Loans or Swingline Loans,
      (y) in the case of Letters of Credit denominated in Euros, Euro Revolving Loans
      in an equivalent amount and, to the extent so financed, Borrower’s obligation to
      make such payment shall be discharged and replaced by the resulting Euro
      Revolving Loans or (z) in the case of Letters of Credit denominated in GBP,
      GBP
      Revolving Loans in an equivalent amount and, to the extent so financed,
      Borrower’s obligation to make such payment shall be discharged and replaced by
      the resulting GBP Revolving Loans; (2) Borrower shall pay interest
      on the amount of any such LC Disbursement for each day from and including the
      date of such LC Disbursement to but excluding the date such amount is discharged
      and replaced by ABR Revolving Loans, Swingline Loans, Euro Revolving Loans
      or
      GBP Loans, as the case may be, to the Administrative Agent for the account
      of
      the Issuing Bank at the rate per annum applicable to such ABR Revolving Loans,
      Swingline Loans, Euro Revolving Loans or GBP Loans as may replace such LC
      Disbursement (for the avoidance of doubt, it being expressly understood and
      agreed that the notice periods and other conditions specified in Section
      2.03 and the conditions set forth in Section 4.02 shall be applicable
      with respect to any such Borrowings); and (3) any such payments made with the
      proceeds of ABR Revolving Loans, Swingline Loans, Euro Revolving Loans or GBP
      Loans borrowed pursuant to a borrowing request made in accordance with clause
      (1) above shall be deemed to have been made when due.

     

     

    (ii)  If
      Borrower fails to make such payment when due, the Issuing Bank shall notify
      the
      Administrative Agent and the Administrative Agent shall notify each Revolving
      Lender of the applicable LC Disbursement, the payment then due from Borrower
      in
      respect thereof and such Revolving Lender’s Pro Rata Percentage
      thereof.  Each Revolving Lender shall pay by wire transfer of
      immediately available funds to the Administrative Agent not later than 2:00
      p.m., Local Time, on such date (or, if such Revolving Lender shall have received
      such notice later than 12:00 noon, Local Time, on any day, not later than 11:00
      a.m., Local Time, on the immediately following Business Day), an amount equal
      to
      such Revolving Lender’s Pro Rata Percentage of the unreimbursed LC Disbursement
      in the same manner as provided in Section 2.02(c) with respect to
      Revolving Loans made by such Revolving Lender, and the Administrative Agent
      will
      promptly pay to the Issuing Bank the amounts so received by it from the
      Revolving Lenders.  The Administrative Agent will promptly pay to the
      Issuing Bank any amounts received by it from Borrower pursuant to the above
      paragraph prior to the time that any Revolving Lender makes any payment pursuant
      to the preceding sentence and any such amounts received by the Administrative
      Agent from Borrower thereafter will be promptly remitted by the Administrative
      Agent to the Revolving Lenders that shall have made such payments and to the
      Issuing Bank, as appropriate.

     

     

    (iii)  If
      any
      Revolving Lender shall not have made its Pro Rata Percentage of such LC
      Disbursement available to the Administrative Agent as provided above, each
      of
      such Revolving Lender and Borrower severally agrees to pay interest on such
      amount, for each day from and including the date such amount is required to
      be
      paid in accordance with the foregoing to but excluding the date such amount
      is
      paid, to the Administrative Agent for the account of the Issuing Bank at (i)
      in
      the case of Borrower, the rate per annum set forth in Section 2.18(h) and
      (ii) in the case of such Lender, at the Interbank Rate.

     

     

    (iv)  All
      payments made pursuant to this Section 2.18(e) shall be in the Approved
      Currency in which the LC Disbursement giving rise to such payment is
      denominated.

     

     

    (f)  Obligations
      Absolute.  The Reimbursement Obligation of Borrower as provided in
Section 2.18(e) shall be absolute, unconditional and irrevocable, and
      shall be paid and performed strictly in accordance with the terms of this
      Agreement under any and all circumstances whatsoever and irrespective of (i)
      any
      lack of validity or enforceability of any Letter of Credit or this Agreement,
      or
      any term or provision therein; (ii) any draft or other document presented under
      a Letter of Credit being proved to be forged, fraudulent, invalid or
      insufficient in any respect or any statement therein being untrue or inaccurate
      in any respect; (iii) payment by the Issuing Bank under a Letter of Credit
      against presentation of a draft or other document that fails to comply with
      the
      terms of such Letter of Credit; (iv) any other event or circumstance whatsoever,
      whether or not similar to any of the foregoing, that might, but for the
      provisions of this Section 2.18, constitute a legal or equitable
      discharge of, or provide a right of setoff against, the obligations of Borrower
      hereunder; (v) the fact that a Default shall have occurred and be continuing;
      or
      (vi) any material adverse change in the business, property, results of
      operations, prospects or condition, financial or otherwise, of Borrower and
      its
      Subsidiaries.  None of the Agents, the Lenders, the Issuing Bank or
      any of their Affiliates shall have any liability or responsibility by reason
      of
      or in connection with the issuance or transfer of any Letter of Credit or any
      payment or failure to make any payment thereunder (irrespective of any of the
      circumstances referred to in the preceding sentence), or any error, omission,
      interruption, loss or delay in transmission or delivery of any draft, notice
      or
      other communication under or relating to any Letter of Credit (including any
      document required to make a drawing thereunder), any error in interpretation
      of
      technical terms or any consequence arising from causes beyond the control of
      the
      Issuing Bank; provided that the foregoing shall not be construed to
      excuse the Issuing Bank from liability to Borrower to the extent of any direct
      damages (as opposed to consequential damages, claims in respect of which are
      hereby waived by Borrower to the extent permitted by applicable Requirements
      of
      Law) suffered by Borrower that are caused by the Issuing Bank’s failure to
      exercise care when determining whether drafts and other documents presented
      under a Letter of Credit comply with the terms thereof.  The parties
      hereto expressly agree that, in the absence of gross negligence or willful
      misconduct on the part of the Issuing Bank (as finally determined by a court
      of
      competent jurisdiction), the Issuing Bank shall be deemed to have exercised
      care
      in each such determination.  In furtherance of the foregoing and
      without limiting the generality thereof, the parties agree that, with respect
      to
      documents presented which appear on their face to be in substantial compliance
      with the terms of a Letter of Credit, the Issuing Bank may, in its sole
      discretion, either accept and make payment upon such documents without
      responsibility for further investigation, regardless of any notice or
      information to the contrary, or refuse to accept and make payment upon such
      documents if such documents are not in strict compliance with the terms of
      such
      Letter of Credit.

     

     

    (g)  Disbursement
      Procedures.  The Issuing Bank shall, promptly following its
      receipt thereof, examine all documents purporting to represent a demand for
      payment under a Letter of Credit.  The Issuing Bank shall promptly
      give written notice to the Administrative Agent and Borrower of such demand
      for
      payment and whether the Issuing Bank has made or will make an LC Disbursement
      thereunder; provided that any failure to give or delay in giving such
      notice shall not relieve Borrower of its Reimbursement Obligation to the Issuing
      Bank and the Revolving Lenders with respect to any such LC Disbursement (other
      than with respect to the timing of such Reimbursement Obligation set forth
      in
Section 2.18(e)).

     

     

    (h)  Interim
      Interest.  If the Issuing Bank shall make any LC Disbursement,
      then, unless Borrower shall reimburse such LC Disbursement in full on the date
      such LC Disbursement is made, the unpaid amount thereof shall bear interest
      payable on demand, for each day from and including the date such LC Disbursement
      is made to but excluding the date that Borrower reimburses such LC Disbursement,
      at the rate per annum determined pursuant to Section
      2.06(d).  Interest accrued pursuant to this
      paragraph shall be for the account of the Issuing Bank, except that interest
      accrued on and after the date of payment by any Revolving Lender pursuant to
      Section 2.18(e) to reimburse the Issuing Bank shall be for the account of
      such Lender to the extent of such payment.

     

     

    (i)  Cash
      Collateralization.  If any Event of Default shall occur and be
      continuing, on the Business Day that Borrower receives notice from the
      Administrative Agent or the Required Lenders (or, if the maturity of the Loans
      has been accelerated, Revolving Lenders with LC Exposure representing greater
      than 50% of the total LC Exposure) demanding the deposit of cash collateral
      pursuant to this paragraph, Borrower shall deposit on terms and in accounts
      satisfactory to the Collateral Agent, in the name of the Collateral Agent and
      for the benefit of the Revolving Lenders, an amount in cash equal to the LC
      Exposure as of such date plus any accrued and unpaid interest thereon;
provided that the obligation to deposit such cash collateral shall
      become effective immediately, and such deposit shall become immediately due
      and
      payable, without demand or other notice of any kind, upon the occurrence of
      any
      Event of Default with respect to Borrower described in Section 8.01(g) or
(h).  Funds so deposited shall be applied by the Collateral
      Agent to reimburse the Issuing Bank for LC Disbursements for which it has not
      been reimbursed and, to the extent not so applied, shall be held for the
      satisfaction of outstanding Reimbursement Obligations or, if the maturity of
      the
      Loans has been accelerated (but subject to the consent of Revolving Lenders
      with
      LC Exposure representing greater than 50% of the total LC Exposure), be applied
      to satisfy other Obligations of Borrower under this Agreement.  If
      Borrower is required to provide an amount of cash collateral hereunder as a
      result of the occurrence of an Event of Default, such amount plus any accrued
      interest or realized profits with respect to such amounts (to the extent not
      applied as aforesaid) shall be returned to Borrower within three Business Days
      after all Events of Default have been cured or waived.

     

     

    (j)  Additional
      Issuing Banks.  Borrower may, at any time and from time to
      time, designate one or more additional Revolving Lenders to act as an issuing
      bank under the terms of this Agreement, with the consent of the Administrative
      Agent (which consent shall not be unreasonably withheld), the Issuing Bank
      and
      such Revolving Lender(s).  Any Lender designated as an issuing bank
      pursuant to this paragraph (j) shall be deemed (in addition to being a Revolving
      Lender) to be the Issuing Bank with respect to Letters of Credit issued or
      to be
      issued by such Revolving Lender, and all references herein and in the other
      Loan
      Documents to the term “Issuing Bank” shall, with respect to such Letters of
      Credit, be deemed to refer to such Revolving Lender in its capacity as Issuing
      Bank, as the context shall require.

     

     

    (k)  Resignation
      or Removal of the Issuing Bank.  The Issuing Bank may resign as
      Issuing Bank hereunder at any time upon at least 30 days’ prior notice to the
      Lenders, the Administrative Agent and Borrower.  The Issuing Bank may
      be replaced at any time by written agreement among Borrower, each Agent, the
      replaced Issuing Bank and the successor Issuing Bank.  The
      Administrative Agent shall notify the Lenders of any such replacement of the
      Issuing Bank or any such additional Issuing Bank.  At the time any
      such resignation or replacement shall become effective, Borrower shall pay
      all
      unpaid fees accrued for the account of the replaced Issuing Bank pursuant to
      Section 2.05(c).  From and after the effective date of any such
      resignation or replacement or addition, as applicable, (i) the successor or
      additional Issuing Bank shall have all the rights and obligations of the Issuing
      Bank under this Agreement with respect to Letters of Credit to be issued by
      it
      thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed
      to refer to such successor or such addition or to any previous Issuing Bank,
      or
      to such successor or such addition and all previous Issuing Banks, as the
      context shall require.  After the resignation or replacement of an
      Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto
      and shall continue to have all the rights and obligations of an Issuing Bank
      under this Agreement with respect to Letters of Credit issued by it prior to
      such resignation or replacement, but shall not be required to issue additional
      Letters of Credit.  If at any time there is more than one Issuing Bank
      hereunder, Borrower may, in its discretion, select which Issuing Bank is to
      issue any particular Letter of Credit.

     

     

    (l)  Other.  The
      Issuing Bank shall be under no obligation to issue any Letter of Credit
      if

     

     

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

     

     

    (ii)  the
      issuance of such Letter of Credit would violate one or more policies of the
      Issuing Bank.

     

     

    The
      Issuing Bank shall be under no obligation to amend any Letter of Credit if
      (A)
      the Issuing Bank would have no obligation at such time to issue such Letter
      of
      Credit in its amended form under the terms hereof, or (B) the beneficiary of
      such Letter of Credit does not accept the proposed amendment to such Letter
      of
      Credit.

     

     

    (m)  Existing
      Letters of Credit.  Each Existing Letter of Credit shall for all
      purposes hereunder and under the other Loan Documents, be deemed to be, and
      shall, until the termination or expiration of such Existing Letter Credit,
      remain outstanding as, a Letter of Credit issued under this Agreement on the
      Closing Date by the applicable Issuing Bank for the account of Borrower or
      the
      Subsidiary of Borrower specified in such Existing Letter of Credit
      (provided that Borrower shall be deemed to be a co-applicant, and shall
      be jointly and severally liable, with respect to each such Existing Letter
      of
      Credit issued for the account of a Subsidiary).

     

     

    ARTICLE
      III                                

     

    REPRESENTATIONS
      AND WARRANTIES

     

     

    Each
      Loan
      Party represents and warrants to the Administrative Agent, the Collateral Agent,
      the Issuing Bank and each of the Lenders (with references to the Companies
      being
      references thereto after giving effect to the Transactions unless otherwise
      expressly stated) that:

     

    Section
      3.01  Organization;
      Powers

     

    .  Each
      Company (a) is duly organized and validly existing under the laws of the
      jurisdiction of its organization, (b) has all requisite power and authority
      to
      carry on its business as now conducted and to own and lease its property and
      (c)
      is qualified and in good standing (to the extent such concept is applicable
      in
      the applicable jurisdiction) to do business in every jurisdiction where such
      qualification is required, except in such jurisdictions where the failure to
      so
      qualify or be in good standing, individually or in the aggregate, could not
      reasonably be expected to result in a Material Adverse Effect.  There
      is no existing default under any Organizational Document of any Company (other
      than Immaterial Subsidiaries) or any event which, with the giving of notice
      or
      passage of time or both, would constitute a default by any party
      thereunder.

     

    Section
      3.02  Authorization;
      Enforceability

     

    .  The
      Transactions to be entered into by each Loan Party are within such Loan Party’s
      powers and have been duly authorized by all necessary action on the part of
      such
      Loan Party.  This Agreement has been duly executed and delivered by
      each Loan Party and constitutes, and each other Loan Document to which any
      Loan
      Party is to be a party, when executed and delivered by such Loan Party, will
      constitute, a legal, valid and binding obligation of such Loan Party,
      enforceable in accordance with its terms, subject to applicable bankruptcy,
      insolvency, reorganization, moratorium or other laws affecting creditors’ rights
      generally and subject to general principles of equity, regardless of whether
      considered in a proceeding in equity or at law.

     

    Section
      3.03  No
      Conflicts

     

    .  Except
      as set forth on Schedule 3.03, the Transactions (a) do not require any
      consent or approval of, registration or filing with, or any other action by,
      any
      Governmental Authority, except (i) such as have been obtained or made and are
      in
      full force and effect, (ii) filings necessary to perfect Liens created by the
      Loan Documents and (iii) consents, approvals, registrations, filings, permits
      or
      actions the failure to obtain or perform which could not reasonably be expected
      to result in a Material Adverse Effect, (b) will not violate the Organizational
      Documents of any Company, (c) will not violate any Requirement of Law, (d)
      will
      not violate or result in a default or require any consent or approval under
      any
      indenture, agreement or other instrument binding upon any Company or its
      property, or give rise to a right thereunder to require any payment to be made
      by any Company, except for violations, defaults or the creation of such rights
      that could not reasonably be expected to result in a Material Adverse Effect,
      and (e) will not result in the creation or imposition of any Lien on any
      property of any Company, except Liens created by the Loan Documents and
      Permitted Liens.

     

    Section
      3.04  Financial
      Statements; Projections

     

    (a)  Historical
      Financial Statements.  Borrower has heretofore delivered to the
      Administrative Agent (i) the consolidated balance sheets and related statements
      of income, stockholders’ equity and cash flows of Borrower as of and for the
      fiscal years ended 2004, 2005 and 2006, audited by and accompanied by the
      unqualified opinion of Deloitte & Touche LLP, independent public
      accountants, and (ii) the consolidated balance sheets and related statements
      of
      income, stockholders’ equity and cash flows of the Acquired Business as of and
      for the fiscal years ended 2004, 2005 and 2006, audited by and accompanied
      by
      the unqualified opinion of Ernst & Young LLP, independent public
      accountants.  Such financial statements and all financial statements
      delivered pursuant to Sections 5.01(a) and (b) have been prepared
      in accordance with GAAP (or, in the case of the financial statements referred
      to
      in clause (a)(ii) above, on a modified GAAP basis, without footnotes to the
      extent such footnotes have not been prepared) and present fairly and accurately
      the financial condition and results of operations and cash flows of Borrower
      as
      of the dates and for the periods to which they relate.

     

     

    (b)  No
      Liabilities.  Except as set forth in the financial statements
      referred to in Section 3.04(a), there are no liabilities of any Company
      of any kind, whether accrued, contingent, absolute, determined, determinable
      or
      otherwise, which could reasonably be expected to result in a Material Adverse
      Effect, and there is no existing condition, situation or set of circumstances
      which could reasonably be expected to result in such a liability, other than
      liabilities under the Loan Documents.  Since December 31, 2006, there
      has been no event, change, circumstance or occurrence that, individually or
      in
      the aggregate, has had or could reasonably be expected to result in a Material
      Adverse Effect.

     

     

    (c)  Pro
      Forma Financial Statements.  Borrower has heretofore
      delivered to the Administrative Agent Borrower’s unaudited pro forma
      consolidated balance sheet and statement of income and pro forma EBITDA
      for the fiscal year ended December 31, 2006, after giving effect to the
      Transactions as if they had occurred on such date in the case of the balance
      sheet and as of the beginning of such fiscal year in the case of the statements
      of income and cash flows.  Such pro forma financial
      statements (i) have been prepared in good faith by the Loan Parties, based
      on
      the assumptions stated therein (which assumptions are believed by the Loan
      Parties on the date hereof and on the Closing Date to be reasonable) and are
      based on the best information available to the Loan Parties as of the date
      of
      delivery thereof, (ii) have been prepared to give pro forma effect to
      the Transactions as if they had occurred on such date or as of the beginning
      of
      such fiscal year, as the case may be, and (iii) present fairly in all material
      respects the pro forma consolidated financial position and results of
      operations of Borrower as of such date and for such fiscal year, assuming that
      the Transactions had occurred at such date.

     

     

    (d)           Forecasts.  The
      forecasts of financial performance of Borrower and its subsidiaries furnished
      to
      the Administrative Agent have been prepared in good faith by Borrower and based
      on assumptions believed by Borrower to reasonable.

     

    Section
      3.05  Properties

     

    (a)  Generally.  Each
      Company has good title to, or valid leasehold interests in, all its property
      material to its business, free and clear of all Liens except for, in the case
      of
      Collateral, Permitted Collateral Liens and, in the case of all other material
      property, Permitted Liens and minor irregularities or deficiencies in title
      that, individually or in the aggregate, do not interfere with its ability to
      conduct its business as currently conducted or to utilize such property for
      its
      intended purpose.  The property of the Companies, taken as a whole,
      (i) is in good operating order, condition and repair (ordinary wear and tear
      excepted) in all material respects and (ii) constitutes all the property which
      is required for the business and operations of the Companies as presently
      conducted.

     

     

    (b)  Real
      Property.  Schedules 8(a) and 8(b) to the Perfection
      Certificate dated the Closing Date contain a true and complete list of each
      interest in Real Property (i) owned by any Loan Party as of the date hereof
      and
      describe the type of interest therein held by such Loan Party and whether such
      owned Real Property is leased and if leased whether the underlying Lease
      contains any option to purchase all or any portion of such Real Property or
      any
      interest therein or contains any right of first refusal relating to any sale
      of
      such Real Property or any portion thereof or interest therein and (ii) leased,
      subleased or otherwise occupied or utilized by any Loan Party, as lessee,
      sublessee, franchisee or licensee, as of the date hereof and describes the
      type
      of interest therein held by such Loan Party and, in each of the cases described
      in clauses (i) and (ii) of this Section 3.05(b), whether any Lease
      requires the consent of the landlord or tenant thereunder, or other party
      thereto, to the Transactions.

     

     

    (c)  No
      Casualty Event.  As of the date hereof, no Company has received
      any notice of, nor has any knowledge of, the occurrence or pendency or
      contemplation of any Casualty Event affecting all or any portion of its
      property.  No Mortgage encumbers improved Real Property that is
      located in an area that has been identified by the Secretary of Housing and
      Urban Development as an area having special flood hazards within the meaning
      of
      the National Flood Insurance Act of 1968 unless flood insurance available under
      such Act has been obtained in accordance with Section 5.04.

     

     

    (d)  Collateral.  Each
      Company owns or has rights to use all of the Collateral and all rights with
      respect to any of the foregoing used in, necessary for or material to each
      Company’s business as currently conducted.  The use by each Company of
      such Collateral and all such rights with respect to the foregoing do not
      infringe on the rights of any person other than such infringement which could
      not, individually or in the aggregate, reasonably be expected to result in
      a
      Material Adverse Effect.  No claim has been made and remains
      outstanding that any Company’s use of any Collateral does or may violate the
      rights of any third party that could, individually or in the aggregate,
      reasonably be expected to result in a Material Adverse Effect.

     

    Section
      3.06  Intellectual
      Property

     

    (a)  Ownership/No
      Claims.  Each Loan Party owns, or is licensed to use, all patents,
      patent applications, trademarks, trade names, service marks, copyrights,
      technology, trade secrets, proprietary information, domain names, know-how
      and
      processes necessary for the conduct of its business as currently conducted
      (the
“Intellectual Property”), except for those the failure to own
      or license which, individually or in the aggregate, could not reasonably be
      expected to result in a Material Adverse Effect.  No claim has been
      asserted and is pending by any person challenging or questioning the use of
      any
      such Intellectual Property or the validity or effectiveness of any such
      Intellectual Property, nor does any Loan Party know of any valid basis for
      any
      such claim, except for such claims that, individually or in the aggregate,
      could
      not reasonably be expected to have a Material Adverse Effect.  The use
      of such Intellectual Property by each Loan Party does not infringe the rights
      of
      any person, except for such claims and infringements that, individually or
      in
      the aggregate, could not reasonably be expected to result in a Material Adverse
      Effect.

     

     

    (b)  Registrations.  Except
      pursuant to licenses and other user agreements entered into by each Loan Party
      in the ordinary course of business that are listed in Schedule
      13(a) or 13(b) to the Perfection
      Certificate, on and as of the date hereof (i) each Loan Party owns and possesses
      the right to use, and has done nothing to authorize or enable any other person
      to use, any material Copyright, Patent or Trademark (as such terms are defined
      in the Security Agreement) listed in Schedule 13(a) or
13(b) to the Perfection Certificate
      and (ii) all
      registrations listed in Schedule 13(a) or
13(b) to the Perfection Certificate
      are valid and in full
      force and effect (except such registrations that, in the reasonable business
      judgment of Borrower are no longer necessary or desirable for the conduct of
      the
      business of any of the Companies).

     

     

    (c)  No
      Violations or Proceedings.  To each Loan Party’s knowledge, on and
      as of the date hereof, there is no material violation by others of any right
      of
      such Loan Party with respect to any copyright, patent or trademark listed in
      Schedule 13(a) or 13(b) to the
      Perfection Certificate, pledged by it under the name of such Loan Party except
      as may be set forth on Schedule 3.06(c).

     

    Section
      3.07  Equity
      Interests and Subsidiaries

     

    (a)  Equity
      Interests.  Schedules 1(a) and 10 to the Perfection
      Certificate dated the Closing Date set forth a list of (i) all the Subsidiaries
      of Borrower and their jurisdictions of organization as of the Closing Date
      and
      (ii) the number of each class of its Equity Interests authorized, and the number
      outstanding, on the Closing Date and the number of shares covered by all
      outstanding options, warrants, rights of conversion or purchase and similar
      rights at the Closing Date.  All Equity Interests of each Loan Party
      are duly and validly issued and are fully paid and non-assessable, and, other
      than the Equity Interests of Borrower, are owned by Borrower, directly or
      indirectly through Wholly Owned Subsidiaries.  Except as set forth on
Schedule 3.07(a) (or, with respect to any changes in such information
      following the Closing Date, as disclosed to the Administrative Agent by Borrower
      in writing from time to time after the Closing Date), all Equity Interests
      of
      each Company (other than Loan Parties) are duly and validly issued and are
      fully
      paid and non-assessable and are owned by Borrower, directly or indirectly
      through Wholly Owned Subsidiaries.  Each Loan Party is the record and
      beneficial owner of, and has good and marketable title to, the Equity Interests
      pledged by it under the Security Agreement (and any other security document
      or
      pledge agreement delivered in accordance with applicable local or foreign law),
      free of any and all Liens, rights or claims of other persons, except the
      security interest created by the Security Agreement (and any other security
      document or pledge agreement delivered in accordance with applicable local
      or
      foreign law) and, in the case of Equity Interests of Outsourcing Project
      Subsidiaries which have Outsourcing Project Indebtedness, Liens securing the
      Outsourcing Project Indebtedness of such Outsourcing Subsidiary, and except
      as
      not prohibited hereunder, there are no outstanding warrants, options or other
      rights to purchase, or shareholder, voting trust or similar agreements
      outstanding with respect to, or property that is convertible into, or that
      requires the issuance or sale of, any such Equity Interests.

     

     

    (b)  No
      Consent of Third Parties Required.  No consent of any person
      including any other general or limited partner, any other member of a limited
      liability company, any other shareholder or any other trust beneficiary is
      necessary or reasonably desirable (from the perspective of a secured party)
      in
      connection with the creation, perfection or first priority status of the
      security interest of the Collateral Agent in any Equity Interests pledged to
      the
      Collateral Agent for the benefit of the Secured Parties under the Security
      Agreement (and any other security document or pledge agreement delivered in
      accordance with applicable local or foreign law) or the exercise by the
      Collateral Agent of the voting or other rights provided for in the Security
      Agreement (and any other security document or pledge agreement delivered in
      accordance with applicable local or foreign law) or the exercise of remedies
      in
      respect thereof.

     

     

    (c)  Organizational
      Chart.  An accurate organizational chart, showing the ownership
      structure of Borrower and each Subsidiary on the Closing Date, and after giving
      effect to the Transactions, is set forth on Schedule 10 to the Perfection
      Certificate dated the Closing Date.

     

    Section
      3.08  Litigation;
      Compliance with Laws

     

    .  There
      are no actions, suits or proceedings at law or in equity by or before any
      Governmental Authority now pending or, to the knowledge of any Company,
      threatened against or affecting any Company or any business, property or rights
      of any Company (i) that involve any Loan Document or any of the Transactions
      or
      (ii) as to which there is a reasonable possibility of an adverse determination
      and that, if adversely determined, could reasonably be expected, individually
      or
      in the aggregate, to result in a Material Adverse Effect.  Except for
      matters covered by Section 3.18, no Company or any of its property is in
      violation of, nor will the continued operation of its property as currently
      conducted violate, any Requirements of Law (including any zoning or building
      ordinance, code or approval or any building permits) or any restrictions of
      record or agreements affecting any Company’s Real Property or is in default with
      respect to any Requirement of Law, where such violation or default, individually
      or in the aggregate, could reasonably be expected to result in a Material
      Adverse Effect.

     

    Section
      3.09  Agreements

     

    .  No
      Company is a party to any agreement or instrument or subject to any corporate
      or
      other constitutional restriction that has resulted or could reasonably be
      expected to result in a Material Adverse Effect.  No Company is in
      default in any manner under any provision of any indenture or other agreement
      or
      instrument evidencing Indebtedness, or any other agreement or instrument to
      which it is a party or by which it or any of its property is or may be bound,
      where such default could reasonably be expected to result in a Material Adverse
      Effect, and no condition exists which, with the giving of notice or the lapse
      of
      time or both, would constitute such a default.

     

    Section
      3.10  Federal
      Reserve Regulations

     

    .  No
      Company is engaged principally, or as one of its important activities, in the
      business of extending credit for the purpose of buying or carrying Margin
      Stock.  No part of the proceeds of any Loan or any Letter of Credit
      will be used, whether directly or indirectly, and whether immediately,
      incidentally or ultimately, for any purpose that entails a violation of, or
      that
      is inconsistent with, the provisions of the regulations of the Board, including
      Regulation T, U or X.  The pledge of the Securities Collateral
      pursuant to the Security Agreement does not violate such
      regulations.

     

    Section
      3.11  Investment
      Company Act

     

    .  No
      Company is an “investment company” or a company “controlled” by an “investment
      company,” as defined in, or subject to regulation under, the Investment Company
      Act of 1940, as amended.

     

    Section
      3.12  Use
      of Proceeds

     

    .  Borrower
      will use the proceeds of (a) the Term Loans to finance the Transactions and
      (b)
      the Revolving Loans and Swingline Loans after the Closing Date for general
      corporate purposes (including to effect Permitted Acquisitions), except no
      such
      proceeds will be used for any optional or voluntary payment, prepayment,
      repurchase or redemption, or the defeasance or segregation of funds with respect
      to Outsourcing Project Indebtedness.  No Revolving Loans or Swingline
      Loans shall be made on the Closing Date.

     

    Section
      3.13  Taxes

     

    .  Each
      Company has (a) timely filed or caused to be timely filed all federal Tax
      Returns and all material state, local and foreign Tax Returns or materials
      required to have been filed by it and all such Tax Returns are true and correct
      in all material respects and (b) duly and timely paid, collected or remitted
      or
      caused to be duly and timely paid, collected or remitted all Taxes (whether
      or
      not shown on any Tax Return) due and payable, collectible or remittable by
      it
      and all assessments received by it, except Taxes (i) that are being contested
      in
      good faith by appropriate proceedings and for which such Company has set aside
      on its books adequate reserves in accordance with GAAP and (ii) which could
      not,
      individually or in the aggregate, have a Material Adverse
      Effect.  Each Company has made adequate provision in accordance with
      GAAP for all Taxes not yet due and payable.  Each Company is unaware
      of any proposed or pending tax assessments, deficiencies or audits that could
      be
      reasonably expected to, individually or in the aggregate, result in a Material
      Adverse Effect.  No Company has ever been a party to any understanding
      or arrangement constituting a “tax shelter” within the meaning of Section
      6111(c), Section 6111(d) or Section 6662(d)(2)(C)(iii) of the Code, or has
      ever
“participated” in a “reportable transaction” within the meaning of Treasury
      Regulation Section 1.6011-4, except as could not be reasonably expected to,
      individually or in the aggregate, result in a Material Adverse
      Effect.

     

    Section
      3.14  No
      Material Misstatements

     

    .  No
      information, report, financial statement, certificate, Borrowing Request, LC
      Request, exhibit or schedule furnished by or on behalf of any Company to the
      Administrative Agent or any Lender in connection with the negotiation of any
      Loan Document or included therein or delivered pursuant thereto, taken as a
      whole, or the Confidential Information Memorandum contained or contains any
      material misstatement of fact or omitted or omits to state any material fact
      necessary to make the statements therein, in the light of the circumstances
      under which they were or are made, not misleading as of the date such
      information is dated or certified; provided that to the extent any such
      information, report, financial statement, exhibit or schedule was based upon
      or
      constitutes a forecast or projection, each Company represents only that it
      acted
      in good faith and utilized reasonable assumptions and due care in the
      preparation of such information, report, financial statement, exhibit or
      schedule.

     

    Section
      3.15  Labor
      Matters

     

    .  As
      of the Closing Date, there are no strikes, lockouts or slowdowns against any
      Company pending or, to the knowledge of any Company, threatened.  The
      hours worked by and payments made to employees of any Company have not been
      in
      violation of the Fair Labor Standards Act of 1938, as amended, or any other
      applicable federal, state, local or foreign law dealing with such matters in
      any
      manner which could reasonably be expected to result in a Material Adverse
      Effect.  All payments due from any Company, or for which any claim may
      be made against any Company, on account of wages and employee health and welfare
      insurance and other benefits, have been paid or accrued as a liability on the
      books of such Company except where the failure to do so could not reasonably
      be
      expected to result in a Material Adverse Effect.  The consummation of
      the Transactions will not give rise to any right of termination or right of
      renegotiation on the part of any union under any collective bargaining agreement
      to which any Company is bound (other than rights of termination or rights of
      renegotiation on the part of any union under any collective bargaining agreement
      to which no Companies other than Immaterial Subsidiaries are bound which could
      not reasonably be expected to have a Material Adverse Effect).

     

    Section
      3.16  Solvency

     

    .  Immediately
      after the consummation of the Transactions to occur on the Closing Date and
      immediately following the making of each Loan and after giving effect to the
      application of the proceeds of each Loan, (a) the fair value of the properties
      of each Loan Party (individually and on a consolidated basis with its
      Subsidiaries) will exceed its debts and liabilities, subordinated, contingent
      or
      otherwise; (b) the present fair saleable value of the property of each Loan
      Party (individually and on a consolidated basis with its Subsidiaries) will
      be
      greater than the amount that will be required to pay the probable liability
      of
      its debts and other liabilities, subordinated, contingent or otherwise, as
      such
      debts and other liabilities become absolute and matured; (c) each Loan Party
      (individually and on a consolidated basis with its Subsidiaries) will be able
      to
      pay its debts and liabilities, subordinated, contingent or otherwise, as such
      debts and liabilities become absolute and matured; and (d) each Loan Party
      (individually and on a consolidated basis with its Subsidiaries) will not have
      unreasonably small capital with which to conduct its business in which it is
      engaged as such business is now conducted and is proposed to be conducted
      following the Closing Date.

     

    Section
      3.17  Employee
      Benefit Plans

     

    (a)  Each
      Company and its ERISA Affiliates is in compliance in all respects with the
      applicable provisions of ERISA and the Code and the regulations and published
      interpretations thereunder, except to the extent the failure to so comply could
      not reasonably be expected to have a Material Adverse Effect.  No
      ERISA Event has occurred or is reasonably expected to occur that, when taken
      together with all other such ERISA Events, could reasonably be expected to
      result in (i) liability of any Company or any of its ERISA Affiliates that,
      individually or in the aggregate, could reasonably be expected to have a
      Material Adverse Effect, or (ii) the imposition of Liens on any property of
      any
      of the Companies securing actual or asserted liability in an aggregate amount
      exceeding $10.0 million.  The present value of all accumulated benefit
      obligations of all underfunded Plans (based on the assumptions used for purposes
      of Statement of Financial Accounting Standards No. 87) did not, as of the date
      of the most recent financial statements reflecting such amounts, exceed by
      more
      than $10.0 million the fair market value of the property of all such underfunded
      Plans.  Using actuarial assumptions and computation methods consistent
      with subpart I of subtitle E of Title IV of ERISA, the aggregate liabilities
      of
      each Company or its ERISA Affiliates to all Multiemployer Plans in the event
      of
      a complete withdrawal therefrom, as of the close of the most recent fiscal
      year
      of each such Multiemployer Plan, could not reasonably be expected to result
      in a
      Material Adverse Effect.

     

     

    (b)  To
      the
      extent applicable, each Foreign Plan has been maintained in substantial
      compliance with its terms and with the requirements of any and all applicable
      Requirements of Law and has been maintained, where required, in good standing
      with applicable regulatory authorities, except to the extent the failure to
      so
      comply could not reasonably be expected to have a Material Adverse
      Effect.  No Company has incurred any obligation in connection with the
      termination of or withdrawal from any Foreign Plan, except obligations that,
      individually or in the aggregate, could not reasonably be expected to have
      a
      Material Adverse Effect.  The present value of the accrued benefit
      liabilities (whether or not vested) under each Foreign Plan which is funded,
      determined as of the end of the most recently ended fiscal year of the
      respective Company on the basis of actuarial assumptions, each of which is
      reasonable, did not exceed the current value of the property of such Foreign
      Plan by an amount that, individually or in the aggregate for all Companies,
      could reasonably be expected to have a Material Adverse Effect, and for each
      Foreign Plan which is not funded, the obligations of such Foreign Plan are
      properly accrued.

     

    Section
      3.18  Environmental
      Matters

     

    (a)  Except
      as, individually or in the aggregate, could not reasonably be expected to result
      in a Material Adverse Effect:

     

     

    (i)  The
      Companies and their businesses, operations and Real Property are in compliance
      with, and the Companies have no liability under, any applicable Environmental
      Law; and under the currently effective business plan of the Companies, no
      expenditures or operational adjustments will be required in order to comply
      with
      applicable Environmental Laws during the next five years;

     

     

    (ii)  The
      Companies have obtained all Environmental Permits required for the conduct
      of
      their businesses and operations, and the ownership, operation and use of their
      property, under Environmental Law, all such Environmental Permits are valid
      and
      in good standing and, under the currently effective business plan of the
      Companies, no expenditures or operational adjustments will be required in order
      to renew or modify such Environmental Permits during the next five
      years;

     

     

    (iii)  There
      has
      been no Release or threatened Release of Hazardous Material on, at, under or
      from any Real Property or facility presently or formerly owned, leased or
      operated by the Companies or their predecessors in interest that could result
      in
      liability by the Companies under any applicable Environmental Law;

     

     

    (iv)  There
      is
      no Environmental Claim pending or threatened against the Companies, or relating
      to the Real Property currently or formerly owned, leased or operated by the
      Companies or their predecessors in interest or relating to the operations of
      the
      Companies, and there are no actions, activities, circumstances, conditions,
      events or incidents that could form the basis of such an Environmental
      Claim;

     

     

    (v)  No
      person
      with an indemnity or contribution obligation to the Companies relating to
      compliance with or liability under Environmental Law is in default with respect
      to such obligation;

     

     

    (vi)  No
      Company is obligated to perform any action or otherwise incur any expense under
      Environmental Law pursuant to any order, decree, judgment or agreement by which
      it is bound or has assumed by contract, agreement or operation of law, and
      no
      Company is conducting or financing any Response pursuant to any Environmental
      Law with respect to any Real Property or any other location;

     

     

    (vii)  No
      Real
      Property or facility owned, operated or leased by the Companies and no Real
      Property or facility formerly owned, operated or leased by the Companies or
      any
      of their predecessors in interest is (x) listed or proposed for listing on
      the
      National Priorities List promulgated pursuant to CERCLA or (y) listed on the
      Comprehensive Environmental Response, Compensation and Liability Information
      System promulgated pursuant to CERCLA or (z) included on any similar list
      maintained by any Governmental Authority including any such list relating to
      petroleum;

     

     

    (viii)  No
      Lien
      has been recorded or threatened under any Environmental Law with respect to
      any
      Real Property or other assets of the Companies; and

     

     

    (ix)  The
      execution, delivery and performance of this Agreement and the consummation
      of
      the transactions contemplated hereby will not require any notification,
      registration, filing, reporting, disclosure, investigation, remediation or
      cleanup pursuant to any Governmental Real Property Disclosure Requirements
      or
      any other applicable Environmental Law.

     

     

    (b)  The
      Companies have made available to the Lenders all material records and files
      in
      the possession, custody or control of, or otherwise reasonably available to,
      the
      Companies concerning compliance with or liability under Environmental Law,
      including those concerning the actual or suspected existence of Hazardous
      Material at Real Property or facilities currently or formerly owned, operated,
      leased or used by the Companies.

     

    Section
      3.19  Insurance

     

    .  Schedule
      3.19 sets forth a true, complete and correct description of all material
      insurance maintained by each Company as of the Closing Date.  All
      insurance maintained by the Companies is in full force and effect, all premiums
      have been duly paid, no Company has received notice of violation or cancellation
      thereof, the Premises, and the use, occupancy and operation thereof, comply
      in
      all material respects with all Insurance Requirements, and there exists no
      material default under any Insurance Requirement.  Each Company has
      insurance in such amounts and covering such risks and liabilities as are
      customary for companies of a similar size engaged in similar businesses in
      similar locations.

     

    Section
      3.20  Security
      Documents

     

    (a)  Security
      Agreement.  The Security Agreement is effective to create in favor
      of the Collateral Agent for the benefit of the Secured Parties, legal, valid
      and
      enforceable Liens on, and security interests in, the Security Agreement
      Collateral and, when (i) financing statements and other filings in appropriate
      form are filed in the offices specified on Schedule 6 to the
      Perfection Certificate and (ii) upon the taking of possession or control by
      the
      Collateral Agent of the Security Agreement Collateral with respect to which
      a
      security interest may be perfected only by possession or control (which
      possession or control shall be given to the Collateral Agent to the extent
      possession or control by the Collateral Agent is required by each Security
      Agreement), the Liens created by the Security Agreement shall constitute fully
      perfected Liens on, and security interests in, all right, title and interest
      of
      the grantors in the Security Agreement Collateral (other than such Security
      Agreement Collateral in which a security interest cannot be perfected under
      the
      UCC as in effect at the relevant time in the relevant jurisdiction), in each
      case subject to no Liens other than Permitted Collateral Liens.

     

     

    (b)  PTO
      Filing; Copyright Office Filing.  When the Security Agreement or a
      short form thereof is filed in the United States Patent and Trademark Office
      and
      the United States Copyright Office, the Liens created by such Security Agreement
      shall constitute fully perfected Liens on, and security interests in, all right,
      title and interest of the grantors thereunder in the Patents (as defined in
      the
      Security Agreement) registered or applied for with the United States Patent
      and
      Trademark Office or the Copyrights (as defined in such Security Agreement)
      registered or applied for with the United States Copyright Office, as the case
      may be, set forth on the schedules or annexes to the Security Agreement, or
      the
      relevant short form thereof, filed in the United States Patent and Trademark
      Office and the United States Copyright Office, in each case subject to no Liens
      other than Permitted Collateral Liens.

     

     

    (c)  Mortgages.  Each
      Mortgage is effective to create, in favor of the Collateral Agent, for its
      benefit and the benefit of the Secured Parties, legal, valid and enforceable
      first priority Liens on, and security interests in, all of the Loan Parties’
right, title and interest in and to the Mortgaged Properties thereunder and
      the
      proceeds thereof, subject only to Permitted Collateral Liens or other Liens
      acceptable to the Collateral Agent, and when the Mortgages are filed in the
      offices specified on Schedule 8(a) to the Perfection Certificate dated
      the Closing Date (or, in the case of any Mortgage executed and delivered after
      the date thereof in accordance with the provisions of Sections
      5.10 and 5.11, when such Mortgage is filed in the
      offices specified in the local counsel opinion delivered with respect thereto
      in
      accordance with the provisions of Sections 5.10 and
5.11), the Mortgages shall constitute fully
      perfected Liens
      on, and security interests in, all right, title and interest of the Loan Parties
      in the Mortgaged Properties and the proceeds thereof, in each case prior and
      superior in right to any other person, other than Liens permitted by such
      Mortgage.

     

     

    (d)  Valid
      Liens.  Each Security Document delivered pursuant to Sections
      5.10 and 5.11 will, upon execution and delivery
      thereof, be effective to create in favor of the Collateral Agent, for the
      benefit of the Secured Parties, legal, valid and enforceable Liens on, and
      security interests in, all of the Loan Parties’ right, title and interest in and
      to the Collateral thereunder, and (i) when all appropriate filings or recordings
      are made in the appropriate offices as may be required under applicable law
      and
      (ii) upon the taking of possession or control by the Collateral Agent of such
      Collateral with respect to which a security interest may be perfected only
      by
      possession or control (which possession or control shall be given to the
      Collateral Agent to the extent required by any Security Document), such Security
      Document will constitute fully perfected Liens on, and security interests in,
      all right, title and interest of the Loan Parties in such Collateral, in each
      case subject to no Liens other than the applicable Permitted Collateral
      Liens.

     

    Section
      3.21  Acquisition
      Documents; Representations and Warranties in Acquisition
      Agreement

     

    .  Schedule
      3.21 lists (i) each exhibit, schedule, annex or other attachment to the
      Acquisition Agreement and (ii) each material agreement, certificate, instrument,
      letter or other document contemplated by the Acquisition Agreement or any item
      referred to in clause (i) to be entered into, executed or delivered or to become
      effective in connection with the Acquisition or otherwise entered into, executed
      or delivered in connection with the Acquisition.  The Lenders have
      been furnished true and complete copies of each Acquisition Document to the
      extent executed and delivered on or prior to the Closing Date.  Except
      to the extent the failure of such representations and warranties to be true
      and
      correct in all material respects could not reasonably be expected to have a
      Material Adverse Effect, all representations and warranties of each Company
      set
      forth in the Acquisition Agreement were true and correct in all material
      respects as of the time such representations and warranties were made and shall
      be true and correct in all material respects as of the Closing Date as if such
      representations and warranties were made on and as of 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.

     

    Section
      3.22  Anti-Terrorism
      Law

     

    (a)  No
      Loan
      Party and, to the knowledge of the Loan Parties, none of its Affiliates is
      in
      violation of any Requirement of Law relating to terrorism or money laundering
      (“Anti-Terrorism Laws”), including Executive Order No. 13224 on
      Terrorist Financing, effective September 24, 2001 (the
“Executive Order”), and the Uniting and
      Strengthening America by Providing Appropriate Tools Required to Intercept
      and
      Obstruct Terrorism Act of 2001, Public Law 107-56.

     

     

    (b)  No
      Loan
      Party and to the knowledge of the Loan Parties, no Affiliate or broker or other
      agent of any Loan Party acting or benefiting in any capacity in connection
      with
      the Loans is any of the following:

     

     

    (i)  a
      person
      that is listed in the annex to, or is otherwise subject to the provisions of,
      the Executive Order;

     

     

    (ii)  a
      person
      owned or controlled by, or acting for or on behalf of, any person that is listed
      in the annex to, or is otherwise subject to the provisions of, the Executive
      Order;

     

     

    (iii)  a
      person
      with which any Lender is prohibited from dealing or otherwise engaging in any
      transaction by any Anti-Terrorism Law;

     

     

    (iv)  a
      person
      that commits, threatens or conspires to commit or supports “terrorism” as
      defined in the Executive Order; or

     

     

    (v)  a
      person
      that is named as a “specially designated national and blocked person” on the
      most current list published by the U.S. Treasury Department Office of Foreign
      Assets Control (“OFAC”) at its official website or any
      replacement website or other replacement official publication of such
      list.

     

     

    (c)  No
      Loan
      Party and, to the knowledge of the Loan Parties, no broker or other agent of
      any
      Loan Party acting in any capacity in connection with the Loans (i) conducts
      any
      business or engages in making or receiving any contribution of funds, goods
      or
      services to or for the benefit of any person described in paragraph (b) above,
      (ii) deals in, or otherwise engages in any transaction relating to, any property
      or interests in property blocked pursuant to the Executive Order, or (iii)
      engages in or conspires to engage in any transaction that evades or avoids,
      or
      has the purpose of evading or avoiding, or attempts to violate, any of the
      prohibitions set forth in any Anti-Terrorism Law.

     

     

    (d)  Each
      Loan
      Party has reasonable measures in place to ensure that it does not participate,
      directly or indirectly, in activity prohibited by U.S. sanctions laws, which
      include, but are not limited to, 31 C.F.R. Chapter V and all statutes and
      Executive orders imposing sanctions upon foreign states, individuals and/or
      entities.

     

    Section
      3.23  Subordination
      of Senior Subordinated Notes and Convertible Senior Subordinated
      Notes

     

    .  The
      Secured Obligations are “Senior Debt” (or any other defined term having a
      similar purpose), the Guaranteed Obligations are “Guarantor Senior Debt” (or any
      other defined term having a similar purpose) and the Secured Obligations and
      Guaranteed Obligations are “Designated Senior Debt” (or any other defined term
      having a similar purpose) in each case, within the meaning of the Existing
      Senior Subordinated Notes Documents (or any refinancings of any thereof
      permitted under Section 6.01(b)(ii)) and any other Subordinated
      Indebtedness.

     

     

    ARTICLE
      IV                                

     

    CONDITIONS
      TO CREDIT EXTENSIONS

     

    Section
      4.01  Conditions
      to Initial Credit Extension

     

    .  The
      obligation of each Lender and, if applicable, each Issuing Bank to fund the
      initial Credit Extension requested to be made by it shall be subject to the
      prior or concurrent satisfaction of each of the conditions precedent set forth
      in this Section 4.01.

     

     

    (a)  Loan
      Documents.  All legal matters incident to this Agreement, the
      Credit Extensions hereunder and the other Loan Documents shall be satisfactory
      to the Lenders, to the Issuing Bank and to the Administrative Agent and there
      shall have been delivered to the Administrative Agent an executed counterpart
      of
      each of the Loan Documents and the Perfection Certificate.

     

     

    (b)  Corporate
      Documents.  The Administrative Agent shall have
      received:

     

     

    (i)  a
      certificate of the secretary or assistant secretary of each Loan Party dated
      the
      Closing Date, certifying (A) that attached thereto is a true and complete copy
      of each Organizational Document of such Loan Party certified (to the extent
      applicable) as of a recent date by the Secretary of State of the state of its
      organization, (B) that attached thereto is a true and complete copy of
      resolutions duly adopted by the Board of Directors of such Loan Party
      authorizing the execution, delivery and performance of the Loan Documents to
      which such person is a party and, in the case of Borrower, the borrowings
      hereunder, and that such resolutions have not been modified, rescinded or
      amended and are in full force and effect and (C) as to the incumbency and
      specimen signature of each officer executing any Loan Document or any other
      document delivered in connection herewith on behalf of such Loan Party (together
      with a certificate of another officer as to the incumbency and specimen
      signature of the secretary or assistant secretary executing the certificate
      in
      this clause (i));

     

     

    (ii)  a
      certificate as to the good standing of each Loan Party (in so-called “long-form”
if available) as of a recent date, from such Secretary of State (or other
      applicable Governmental Authority); and

     

     

    (iii)  such
      other documents as the Lenders, the Issuing Bank, the Administrative Agent
      or
      the Arranger may reasonably request.

     

     

    (c)  Officers’
      Certificate.  The Administrative Agent shall have received a
      certificate, dated the Closing Date and signed by the chief executive officer
      and the chief financial officer of Borrower, confirming compliance with the
      conditions precedent set forth in this Section 4.01 and Sections
      4.02(b), (c) and (d).

     

     

    (d)  Financings
      and Other Transactions, etc.

     

     

    (i)  The
      Transactions shall have been consummated or shall be consummated simultaneously
      on the Closing Date, in each case in all material respects in accordance with
      the terms hereof and the terms of the Transaction Documents, without the waiver
      or amendment of any such terms not approved by the Administrative Agent and
      the
      Arranger other than any waiver or amendment thereof that is not materially
      adverse to the interests of the Lenders.

     

     

    (ii)  The
      Equity Financing shall have been consummated prior to the Closing
      Date.  The terms of the Equity Financing shall not require any
      payments or other distributions of cash or property in respect thereof other
      than payments in kind, or any purchases, redemptions or other acquisitions
      thereof for cash or property other than payments in kind, in each case prior
      to
      the payment in full of all obligations under the Loan Documents, except as
      permitted by the Loan Documents.  Including the Net Cash Proceeds of
      the Equity Financing, immediately prior to the consummation of the Transactions
      on the Closing Date, Borrower shall have cash on the balance sheet of not less
      than $590.7 million.

     

     

    (iii)  The
      Lenders shall be satisfied with the management, capitalization, the terms and
      conditions of any equity arrangements and the corporate or other organizational
      structure of the Companies (after giving effect to the Transactions) and any
      indemnities, employment and other arrangements entered into in connection with
      the Transactions.

     

     

    (iv)  The
      Refinancing shall have been consummated in full to the satisfaction of the
      Lenders with all liens in favor of the existing lenders being unconditionally
      released; the Administrative Agent shall have received a “pay-off” letter in
      form and substance reasonably satisfactory to the Administrative Agent with
      respect to all debt being refinanced in the Refinancing; and the Administrative
      Agent shall have received from any person holding any Lien securing any such
      debt, such lien termination statements, mortgage releases, releases of
      assignments of leases and rents, releases of security interests in Intellectual
      Property and other instruments, in each case in proper form for recording,
      as
      the Administrative Agent shall have reasonably requested to release and
      terminate of record the Liens securing such debt.

     

     

    (e)  Financial
      Statements; Pro Forma Balance Sheet; Projections.  The
      Administrative Agent shall have received and shall be satisfied with the form
      and substance of the financial statements described in Section 3.04 and
      with the forecasts of the financial performance of Borrower, the Acquired
      Business and their respective Subsidiaries.

     

     

    (f)  Indebtedness
      and Minority Interests.  After giving effect to the Transactions
      and the other transactions contemplated hereby, no Company shall have
      outstanding any Indebtedness or preferred stock other than (i) the Loans and
      Credit Extensions hereunder, (ii) Indebtedness under the Existing Senior
      Subordinated Notes Documents, (iii) the Indebtedness listed on Schedule
      6.01(b) and (iv) Indebtedness owed to Borrower or any Subsidiary
      Guarantor.

     

     

    (g)  Opinions
      of Counsel.  The Administrative Agent shall have received,
      on behalf of itself, the other Agents, the Arranger, the Lenders and the Issuing
      Bank, a favorable written opinion of (i) Perkins Coie LLP, special counsel
      for
      the Loan Parties, (ii) each local and foreign counsel listed on
Schedule 4.01(g), in each case (A) dated the Closing Date, (B)
      addressed to the Agents, the Issuing Bank and the Lenders and (C) covering
      the
      matters set forth in Exhibit N and such other matters relating to the
      Loan Documents and the Transactions as the Administrative Agent shall reasonably
      request, and (iii) a copy of each legal opinion delivered under the other
      Transaction Documents, accompanied by reliance letters from the party delivering
      such opinion authorizing the Agents, Lenders and the Issuing Bank to rely
      thereon as if such opinion were addressed to them.

     

     

    (h)  Solvency
      Certificate.  The Administrative Agent shall have received a
      solvency certificate in the form of Exhibit O, dated the Closing Date and
      signed by the chief financial officer of Borrower.

     

     

    (i)  Requirements
      of Law.  The Lenders shall be satisfied that Borrower, its
      Subsidiaries and the Transactions shall be in full compliance with all material
      Requirements of Law, including Regulations T, U and X of the Board, and shall
      have received satisfactory evidence of such compliance reasonably requested
      by
      them.

     

     

    (j)  Consents.  The
      Lenders shall be satisfied that all requisite Governmental Authorities and
      third
      parties shall have approved or consented to the Transactions, and there shall
      be
      no governmental or judicial action, actual or threatened, that has or would
      have, singly or in the aggregate, a reasonable likelihood of restraining,
      preventing or imposing burdensome conditions on the Transactions or the other
      transactions contemplated hereby.

     

     

    (k)  Litigation.  There
      shall be no litigation, public or private, or administrative proceedings,
      governmental investigation or other legal or regulatory developments, actual
      or
      threatened, that, singly or in the aggregate, could reasonably be expected
      to
      result in a Material Adverse Effect, or could materially and adversely affect
      the ability of Borrower and the Subsidiaries to fully and timely perform their
      respective obligations under the Transaction Documents, or the ability of the
      parties to consummate the financings contemplated hereby or the other
      Transactions.

     

     

    (l)  Sources
      and Uses.  The sources and uses of the Loans shall be as set forth
      in Section 3.12.

     

     

    (m)  Fees.  The
      Arranger and Administrative Agent shall have received all Fees and other amounts
      due and payable on or prior to the Closing Date, including, to the extent
      invoiced, reimbursement or payment of all out-of-pocket expenses (including
      the
      legal fees and expenses of special counsel to the Agents, and the fees and
      expenses of any local counsel, foreign counsel, appraisers, consultants and
      other advisors) required to be reimbursed or paid by Borrower hereunder or
      under
      any other Loan Document.

     

     

    (n)  Personal
      Property Requirements.  The Collateral Agent shall have
      received:

     

     

    (i)  all
      certificates, agreements or instruments representing or evidencing the
      Securities Collateral accompanied by instruments of transfer and stock powers
      undated and endorsed in blank;

     

     

    (ii)  the
      Intercompany Note executed by and among Borrower and each of the Subsidiary
      Guarantors, accompanied by instruments of transfer undated and endorsed in
      blank;

     

     

    (iii)  all
      other
      certificates, agreements, including Control Agreements, or instruments necessary
      to perfect the Collateral Agent’s security interest in all Chattel Paper, all
      Instruments, all Deposit Accounts and all Investment Property of each Loan
      Party
      (as each such term is defined in the Security Agreement and to the extent
      required by the Security Agreement);

     

     

    (iv)  UCC
      financing statements in appropriate form for filing under the UCC, filings
      with
      the United States Patent and Trademark Office and United States Copyright Office
      and such other documents under applicable Requirements of Law in each
      jurisdiction as may be necessary or appropriate or, in the opinion of the
      Collateral Agent, desirable to perfect the Liens created, or purported to be
      created, by the Security Documents and, with respect to all UCC financing
      statements required to be filed pursuant to the Loan Documents, evidence
      satisfactory to the Administrative Agent that Borrower has retained, at its
      sole
      cost and expense, a service provider acceptable to the Administrative Agent
      for
      the tracking of all such financing statements and notification to the
      Administrative Agent, of, among other things, the upcoming lapse or expiration
      thereof;

     

     

    (v)  certified
      copies of UCC, United States Patent and Trademark Office and United States
      Copyright Office, tax and judgment lien searches, bankruptcy and pending lawsuit
      searches or equivalent reports or searches, each of a recent date listing all
      effective financing statements, lien notices or comparable documents that name
      any Loan Party as debtor and that are filed in those state and county
      jurisdictions in which any property of any Loan Party is located and the state
      and county jurisdictions in which any Loan Party is organized or maintains
      its
      principal place of business and such other searches that the Collateral Agent
      deems necessary or appropriate, none of which encumber the Collateral covered
      or
      intended to be covered by the Security Documents (other than Permitted
      Collateral Liens or any other Liens acceptable to the Collateral
      Agent);

     

     

    (vi)  with
      respect to each location set forth on Schedule 4.01(n)(vi), a Landlord
      Access Agreement or Bailee Letter, as applicable; provided that no such
      Landlord Access Agreement or Bailee Letter shall be required with respect to
      any
      Real Property that could not be obtained after the Loan Party that is the lessee
      of such Real Property or owner of the inventory or other personal property
      Collateral stored with the bailee thereof, as applicable, shall have used
      commercially reasonable efforts to do so; and

     

     

    (vii)  evidence
      acceptable to the Collateral Agent of payment or arrangements for payment by
      the
      Loan Parties of all applicable recording taxes, fees, charges, costs and
      expenses required for the recording of the Security Documents.

     

     

    (o)  Real
      Property Requirements.  The Collateral Agent shall have
      received:

     

     

    (i)  a
      Mortgage encumbering each Mortgaged Property in favor of the Collateral Agent,
      for the benefit of the Secured Parties, duly executed and acknowledged by each
      Loan Party that is the owner of or holder of any interest in such Mortgaged
      Property, and otherwise in form for recording in the recording office of each
      applicable political subdivision where each such Mortgaged Property is situated,
      together with such certificates, affidavits, questionnaires or returns as shall
      be required in connection with the recording or filing thereof to create a
      lien
      under applicable Requirements of Law, and such financing statements and any
      other instruments necessary to grant a mortgage lien under the laws of any
      applicable jurisdiction, all of which shall be in form and substance reasonably
      satisfactory to Collateral Agent;

     

     

    (ii)  with
      respect to each Mortgaged Property, such consents, approvals, amendments,
      supplements, estoppels, tenant subordination agreements or other instruments
      as
      necessary to consummate the Transactions or as shall reasonably be deemed
      necessary by the Collateral Agent in order for the owner or holder of the fee
      or
      leasehold interest constituting such Mortgaged Property to grant the Lien
      contemplated by the Mortgage with respect to such Mortgaged
      Property;

     

     

    (iii)  with
      respect to each Mortgage, a policy of title insurance (or marked up title
      insurance commitment having the effect of a policy of title insurance) insuring
      the Lien of such Mortgage as a valid first mortgage Lien on the Mortgaged
      Property and fixtures described therein in the amount equal to not less than
      the
      fair market value of such Mortgaged Property and fixtures, which fair market
      value is set forth on Schedule 4.01(o)(iii), which policy (or such
      marked-up commitment) (each, a “Title Policy”) shall (A) be
      issued by the Title Company, (B) to the extent necessary, include such
      reinsurance arrangements (with provisions for direct access, if necessary)
      as
      shall be reasonably acceptable to the Collateral Agent, (C) contain a “tie-in”
or “cluster” endorsement, if available under applicable law (i.e.,
      policies which insure against losses regardless of location or allocated value
      of the insured property up to a stated maximum coverage amount), (D) have been
      supplemented by such customary endorsements (or where such endorsements are
      not
      available, opinions of special counsel, architects or other professionals
      reasonably acceptable to the Collateral Agent) as shall be reasonably requested
      by the Collateral Agent (including, without limitation, endorsements on matters
      relating to usury, first loss, last Dollar, zoning, contiguity, revolving
      credit, doing business, non-imputation, public road access, survey, variable
      rate, environmental lien, subdivision, mortgage recording tax, separate tax
      lot,
      revolving credit, and so-called comprehensive coverage over covenants and
      restrictions), and (E) contain no exceptions to title other than exceptions
      acceptable to the Collateral Agent;

     

     

    (iv)  with
      respect to each Mortgaged Property, such affidavits, certificates, information
      (including financial data) and instruments of indemnification (including a
      so-called “gap” indemnification) as shall be required to induce the Title
      Company to issue the Title Policy/ies and endorsements contemplated
      above;

     

     

    (v)  evidence
      reasonably acceptable to the Collateral Agent of payment by Borrower of all
      Title Policy premiums, search and examination charges, escrow charges and
      related charges, mortgage recording taxes, fees, charges, costs and expenses
      required for the recording of the Mortgages and issuance of the Title Policies
      referred to above;

     

     

    (vi)  with
      respect to each Real Property or Mortgaged Property, copies of all Leases in
      which Borrower or any Subsidiary holds the lessor’s interest or other agreements
      relating to possessory interests, if any.  To the extent any of the
      foregoing affect any Mortgaged Property, such agreement shall be subordinate
      to
      the Lien of the Mortgage to be recorded against such Mortgaged Property, either
      expressly by its terms or pursuant to a subordination, non-disturbance and
      attornment agreement, and shall otherwise be acceptable to the Collateral
      Agent;

     

     

    (vii)  with
      respect to each Mortgaged Property, each Company shall have made all
      notifications, registrations and filings, to the extent required by, and in
      accordance with, all Governmental Real Property Disclosure Requirements
      applicable to such Mortgaged Property;

     

     

    (viii)  copies
      of
      existing Surveys (if any) with respect to each Mortgaged Property;
      and

     

     

    (ix)  to
      the
      extent applicable, a completed Federal Emergency Management Agency Standard
      Flood Hazard Determination with respect to each Mortgaged Property.

     

     

    (p)  Insurance.  The
      Administrative Agent shall have received a copy of, or a certificate as to
      coverage under, the insurance policies required by Section 5.04 and the
      applicable provisions of the Security Documents, each of which shall (except
      as
      may otherwise be agreed by the Administrative Agent in its sole discretion)
      be
      endorsed or otherwise amended to include a “standard” or “New York” lender’s
      loss payable or mortgagee endorsement, or shall name the Collateral Agent,
      on
      behalf of the Secured Parties, as additional insured, as applicable, in form
      and
      substance satisfactory to the Administrative Agent.

     

     

    (q)  USA
      Patriot Act.  The Lenders shall have received, sufficiently in
      advance of the Closing Date, all documentation and other information that may
      be
      required by the Lenders in order to enable compliance with applicable “know your
      customer” and anti-money laundering rules and regulations, including the United
      States PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26,
      2001)) including the information described in Section 10.13.

     

    Section
      4.02  Conditions
      to All Credit Extensions

     

    .  The
      obligation of each Lender and each Issuing Bank to make any Credit Extension
      (including the initial Credit Extension) shall be subject to, and to the
      satisfaction of, each of the conditions precedent set forth below.

     

     

    (a)  Notice;
      Certificate.  The Administrative Agent shall have received a
      Borrowing Request as required by Section 2.03 (or such notice shall have
      been deemed given in accordance with Section 2.03 pursuant to the terms
      hereof) if Loans are being requested or, in the case of the issuance, amendment,
      extension or renewal of a Letter of Credit, the Issuing Bank and the
      Administrative Agent shall have received an LC Request as required by Section
      2.18(b) or, in the case of the Borrowing of a Swingline Loan, the
      Swingline Lender and the Administrative Agent shall have received a Borrowing
      Request as required by Section 2.17(b), in each case, together with a
      certificate of a Financial Officer of Borrower stating that the incurrence
      of
      such Indebtedness is permitted under the terms of the Existing Senior
      Subordinated Notes Documents (and any refinancings of any thereof permitted
      under Section 6.01(b)(ii), as applicable).

     

     

    (b)  No
      Default.  Borrower and each other Loan Party shall be in
      compliance in all material respects with all the terms and provisions set forth
      herein and in each other Loan Document on its part to be observed or performed,
      and, at the time of and immediately after giving effect to such Credit Extension
      and the application of the proceeds thereof, no Default shall have occurred
      and
      be continuing on such date.

     

     

    (c)  Representations
      and Warranties.  Each of the representations and warranties
      made by any Loan Party set forth in Article III hereof or in any other
      Loan Document shall be true and correct in all material respects (except that
      any representation and warranty that is qualified as to “materiality” or
“Material Adverse Effect” shall be true and correct in all respects) on and as
      of the date of such Credit Extension with the same effect as though made on
      and
      as of such date, except to the extent such representations and warranties
      expressly relate to an earlier date, in which case such representations and
      warranties shall be true and correct in all material respects (or, if qualified
      as to “materiality” or “Material Adverse Effect”, true and correct in all
      respects) as of such earlier date.

     

     

    (d)  No
      Legal Bar.  No order, judgment or decree of any Governmental
      Authority shall purport to restrain any Lender from making any Loans to be
      made
      by it.  No injunction or other restraining order shall have been
      issued, shall be pending or noticed with respect to any action, suit or
      proceeding seeking to enjoin or otherwise prevent the consummation of, or to
      recover any damages or obtain relief as a result of, the transactions
      contemplated by this Agreement or the making of Loans hereunder.

     

     

    Each
      of
      the delivery of a Borrowing Request or an LC Request and the acceptance by
      Borrower of the proceeds of such Credit Extension shall constitute a
      representation and warranty by Borrower and each other Loan Party that on the
      date of such Credit Extension (both immediately before and after giving effect
      to such Credit Extension and the application of the proceeds thereof) the
      conditions contained in Sections 4.02(b)-(d) have been
      satisfied.  Borrower shall provide such information (including
      calculations in reasonable detail of the covenants in Section 6.10) as
      the Administrative Agent may reasonably request to confirm that the conditions
      in Sections 4.02(b)-(d) have been satisfied.

     

     

    ARTICLE
      V                                

     

    AFFIRMATIVE
      COVENANTS

     

     

    Each
      Loan
      Party warrants, covenants and agrees with each Lender that so long as this
      Agreement shall remain in effect and until the Commitments have been terminated
      and the principal of and interest on each Loan, all Fees and all other expenses
      or amounts payable under any Loan Document shall have been paid in full and
      all
      Letters of Credit have been canceled or have expired (or have been cash
      collateralized in a manner reasonably satisfactory to the Administrative Agent)
      and all amounts drawn thereunder have been reimbursed in full, unless the
      Required Lenders shall otherwise consent in writing, each Loan Party will,
      and
      will cause each of its Subsidiaries to:

     

    Section
      5.01  Financial
      Statements, Reports, etc

     

    .  Furnish
      to the Administrative Agent and each Lender:

     

     

    (a)  Annual
      Reports.  As soon as available and in any event within 90 days (or
      such earlier date on which Borrower is required to file a Form 10-K under the
      Exchange Act) after the end of each fiscal year, beginning with the fiscal
      year
      ending December 31, 2007, (i) the consolidated balance sheet of Borrower as
      of
      the end of such fiscal year and related consolidated statements of income,
      cash
      flows and stockholders’ equity for such fiscal year, in comparative form with
      such financial statements as of the end of, and for, the preceding fiscal year,
      and notes thereto (including a note with a consolidating balance sheet and
      statements of income and cash flows separating out Borrower and the
      Subsidiaries), all prepared in accordance with Regulation S-X and accompanied
      by
      an opinion of Deloitte & Touche LLP or other independent public accountants
      of recognized national standing reasonably satisfactory to the Administrative
      Agent (which opinion shall not be qualified as to scope or contain any going
      concern or other qualification), stating that such financial statements fairly
      present, in all material respects, the consolidated financial condition, results
      of operations and cash flows of Borrower as of the dates and for the periods
      specified in accordance with GAAP, (ii) a management report in a form reasonably
      satisfactory to the Administrative Agent setting forth (A) statement of income
      items and Consolidated EBITDA of Borrower for such fiscal year, showing
      variance, by Dollar amount and percentage, from amounts for the previous fiscal
      year and budgeted amounts and (B) key operational information and statistics
      for
      such fiscal year consistent with internal and industry-wide reporting standards,
      and (iii) a narrative report and management’s discussion and analysis, in a form
      reasonably satisfactory to the Administrative Agent, of the financial condition
      and results of operations of Borrower for such fiscal year, as compared to
      amounts for the previous fiscal year and budgeted amounts (it being understood
      that the information required by clauses (i) and (iii) may be furnished in
      the
      form of a Form 10-K);

     

     

    (b)  Quarterly
      Reports.  As soon as available and in any event within 45 days (or
      such earlier date on which Borrower is required to file a Form 10-Q under the
      Exchange Act) after the end of each of the first three fiscal quarters of each
      fiscal year, beginning with the fiscal quarter ending March 31, 2007, (i) the
      consolidated balance sheet of Borrower as of the end of such fiscal quarter
      and
      related consolidated statements of income and cash flows for such fiscal quarter
      and for the then elapsed portion of the fiscal year, in comparative form with
      the consolidated statements of income and cash flows for the comparable periods
      in the previous fiscal year, and notes thereto (including a note with a
      consolidating balance sheet and statements of income and cash flows separating
      out Borrower and the Subsidiaries), all prepared in accordance with Regulation
      S-X under the Securities Act and accompanied by a certificate of a Financial
      Officer stating that such financial statements fairly present, in all material
      respects, the consolidated financial condition, results of operations and cash
      flows of Borrower as of the date and for the periods specified in accordance
      with GAAP consistently applied, and on a basis consistent with audited financial
      statements referred to in clause (a) of this Section, subject to normal year-end
      audit adjustments, (ii) a management report in a form reasonably satisfactory
      to
      the Administrative Agent setting forth (A) statement of income items and
      Consolidated EBITDA of Borrower for such fiscal quarter and for the then elapsed
      portion of the fiscal year, showing variance, by Dollar amount and percentage,
      from amounts for the comparable periods in the previous fiscal year and budgeted
      amounts and (B) key operational information and statistics for such fiscal
      quarter and for the then elapsed portion of the fiscal year consistent with
      internal and industry-wide reporting standards, and (iii) a narrative report
      and
      management’s discussion and analysis, in a form reasonably satisfactory to the
      Administrative Agent, of the financial condition and results of operations
      for
      such fiscal quarter and the then elapsed portion of the fiscal year, as compared
      to the comparable periods in the previous fiscal year and budgeted amounts
      (it
      being understood that the information required by clauses (i) and (iii) may
      be
      furnished in the form of a Form 10-Q);

     

     

    (c)  Financial
      Officer’s Certificate.  (i)  Concurrently
      with any delivery of financial statements under Section 5.01(a) or
(b), a Compliance Certificate (A) certifying that no Default has
      occurred
      or, if such a Default has occurred, specifying the nature and extent thereof
      and
      any corrective action taken or proposed to be taken with respect thereto, (B)
      beginning with the fiscal quarter ending June 30, 2007, setting forth
      computations in reasonable detail satisfactory to the Administrative Agent
      demonstrating compliance with the covenants contained in Sections 6.07(f)
      and 6.10 and, concurrently with any delivery of financial statements
      under Section 5.01(a) above, setting forth Borrower’s calculation of
      Excess Cash Flow and Borrower’s calculations, as of the date of such
      certificate, of the Cumulative Excess Cash Flow Amount and the Cumulative Equity
      Amount, and (C) showing a reconciliation of Consolidated EBITDA to the net
      income set forth on the statement of income; and (ii) concurrently with any
      delivery of financial statements under Section 5.01(a) above, beginning
      with the fiscal year ending December 31, 2007, a report of the accounting firm
      opining on or certifying such financial statements stating that in the course
      of
      its regular audit of the financial statements of Borrower and its Subsidiaries,
      which audit was conducted in accordance with generally accepted auditing
      standards, such accounting firm obtained no knowledge that any Event of Default
      insofar as it relates to financial or accounting matters has occurred or, if
      in
      the opinion of such accounting firm such an Event of Default has occurred,
      specifying the nature and extent thereof;

     

     

    (d)  Financial
      Officer’s Certificate Regarding
      Collateral.  Concurrently with any delivery of financial
      statements under Section 5.01(a), a certificate of a Financial Officer
      setting forth the information required pursuant to the Perfection Certificate
      Supplement or confirming that there has been no change in such information
      since
      the date of the Perfection Certificate or latest Perfection Certificate
      Supplement;

     

     

    (e)  Public
      Reports.  Promptly after the same become publicly available,
      copies of all periodic and other reports, proxy statements and other materials
      filed by any Company with the Securities and Exchange Commission, or any
      Governmental Authority succeeding to any or all of the functions of said
      Commission, or with any national securities exchange, or distributed to holders
      of its Indebtedness pursuant to the terms of the documentation governing such
      Indebtedness (or any trustee, agent or other representative therefor), as the
      case may be;

     

     

    (f)  Budgets.  Within
      60 days after the beginning of each fiscal year, a budget for Borrower in form
      reasonably satisfactory to the Administrative Agent, but to include balance
      sheets, statements of income and sources and uses of cash, for (i) each month
      of
      such fiscal year prepared in detail and (ii) each fiscal year thereafter,
      through and including the fiscal year in which the Final Maturity Date occurs,
      prepared in summary form, in each case, with appropriate presentation and
      discussion of the principal assumptions upon which such budgets are based,
      accompanied by the statement of a Financial Officer of Borrower to the effect
      that the budget of Borrower is a reasonable estimate for the periods covered
      thereby and, promptly when available, any significant revisions of such
      budget;

     

     

    (g)  Organization.  Concurrently
      with any delivery of financial statements under Section 5.01(a), an
      accurate organizational chart as required by Section 3.07(c), or
      confirmation that there are no changes to Schedule 10 to the Perfection
      Certificate;

     

     

    (h)  Organizational
      Documents.  Promptly provide copies of any Organizational
      Documents that have been amended or modified in accordance with the terms hereof
      and deliver a copy of any notice of default given or received by any Company
      under any Organizational Document within 15 days after such Company gives or
      receives such notice; and

     

     

    (i)  Other
      Information.  Promptly, from time to time, such other information
      regarding the operations, business affairs and financial condition of any
      Company, or compliance with the terms of any Loan Document, as the
      Administrative Agent or any Lender may reasonably request.

     

    Section
      5.02  Litigation
      and Other Notices

     

    .  Furnish
      to the Administrative Agent and each Lender written notice of the following
      promptly (and, in any event, within three Business Days of the occurrence
      thereof):

     

     

    (a)  any
      Default, specifying the nature and extent thereof and the corrective action
      (if
      any) taken or proposed to be taken with respect thereto;

     

     

    (b)  the
      filing or commencement of, or any threat or notice of intention of any person
      to
      file or commence, any action, suit, litigation or proceeding, whether at law
      or
      in equity by or before any Governmental Authority, (i) against any Company
      or
      any Affiliate thereof that could reasonably be expected to result in a Material
      Adverse Effect or (ii) with respect to any Loan Document;

     

     

    (c)  any
      development that has resulted in, or could reasonably be expected to result
      in a
      Material Adverse Effect;

     

     

    (d)  the
      occurrence of a Casualty Event with respect to any material property of the
      Borrower or any of its Subsidiaries; and

     

     

    (e)  (i)
      the
      incurrence of any material Lien (other than Permitted Collateral Liens) on,
      or
      claim asserted against any of the Collateral or (ii) the occurrence of any
      other
      event which could materially affect the value of the Collateral.

     

    Section
      5.03  Existence;
      Businesses and Properties

     

    (a)  Do
      or
      cause to be done all things necessary to preserve, renew and maintain in full
      force and effect its legal existence, except as otherwise expressly permitted
      under Section 6.05 or Section 6.06 or, in the case of any
      Subsidiary, where the failure to perform such obligations, individually or
      in
      the aggregate, could not reasonably be expected to result in a Material Adverse
      Effect.

     

     

    (b)  Do
      or
      cause to be done all things necessary to obtain, preserve, renew, extend and
      keep in full force and effect the rights, licenses, permits, privileges,
      franchises, authorizations, patents, copyrights, trademarks and trade names
      material to the conduct of its business; pay and perform its obligations under
      all Acquisition Documents and all material Leases; conduct and operate such
      business in substantially the manner in which it is presently conducted and
      operated; comply with all applicable Requirements of Law (including any and
      all
      zoning, building, Environmental Law, ordinance, code or approval or any building
      permits or any restrictions of record or agreements affecting the Real Property)
      and decrees and orders of any Governmental Authority, whether now in effect
      or
      hereafter enacted, except where the failure to comply, individually or in the
      aggregate, could not reasonably be expected to result in a Material Adverse
      Effect; pay and perform its obligations under all Loan Documents; and at all
      times maintain, preserve and protect all property material to the conduct of
      such business and keep such property in good repair, working order and condition
      (other than wear and tear occurring in the ordinary course of business) and
      from
      time to time make, or cause to be made, all needful and proper repairs,
      renewals, additions, improvements and replacements thereto necessary in order
      that the business carried on in connection therewith may be properly conducted
      at all times; provided that nothing in this Section 5.03(b)
      shall prevent (i) sales of property, consolidations or mergers by or involving
      any Company in accordance with Section 6.05 or Section 6.06; (ii)
      the withdrawal by any Company of its qualification as a foreign corporation
      in
      any jurisdiction where such withdrawal, individually or in the aggregate, could
      not reasonably be expected to result in a Material Adverse Effect; or (iii)
      the
      abandonment by any Company of any rights, franchises, licenses, trademarks,
      trade names, copyrights or patents that such person reasonably determines are
      not useful to its business or no longer commercially desirable.

     

    Section
      5.04  Insurance

     

    (a)  Generally.  Keep
      its insurable property adequately insured at all times by financially sound
      and
      reputable insurers; maintain such other insurance, to such extent and against
      such risks as is customary with companies in the same or similar businesses
      operating in the same or similar locations, including insurance with respect
      to
      Mortgaged Properties and other properties material to the business of the
      Companies against such casualties and contingencies and of such types and in
      such amounts with such deductibles as is customary in the case of similar
      businesses operating in the same or similar locations, including (i) physical
      hazard insurance on an “all risk” basis, (ii) commercial general liability
      against claims for bodily injury, death or property damage covering any and
      all
      insurable claims, (iii) explosion insurance in respect of any boilers, machinery
      or similar apparatus constituting Collateral, (iv) business interruption
      insurance, (v) worker’s compensation insurance and such other insurance as may
      be required by any Requirement of Law and (vi) such other insurance against
      risks as the Administrative Agent may from time to time require (such policies
      to be in such form and amounts and having such coverage as may be reasonably
      satisfactory to the Administrative Agent and the Collateral Agent);
provided that with respect to physical hazard insurance, neither the
      Collateral Agent nor the applicable Company shall agree to the adjustment of
      any
      material claim thereunder without the consent of the other (such consent not
      to
      be unreasonably withheld or delayed); provided, further, that no
      consent of any Company shall be required during an Event of
      Default.

     

     

    (b)  Requirements
      of Insurance.  All such insurance policies held by Loan Parties
      shall (except as may otherwise be agreed by the Administrative Agent in its
      sole
      discretion) (i) provide that no cancellation, material reduction in amount
      or
      material change in coverage thereof shall be effective until at least 30 days
      after receipt by the Collateral Agent of written notice thereof, (ii) name
      the
      Collateral Agent as mortgagee (in the case of property insurance) or additional
      insured on behalf of the Secured Parties (in the case of liability insurance)
      or
      loss payee (in the case of property insurance), as applicable, (iii) if
      reasonably requested by the Collateral Agent, include a breach of warranty
      clause and (iv) be reasonably satisfactory in all other respects to the
      Collateral Agent.

     

     

    (c)  Notice
      to Agents.  Notify the Administrative Agent and the Collateral
      Agent immediately whenever any separate insurance concurrent in form or
      contributing in the event of loss with that required to be maintained under
      this
Section 5.04 is taken out by any Company; and promptly deliver to the
      Administrative Agent and the Collateral Agent a duplicate original copy of
      such
      policy or policies.

     

     

    (d)  Flood
      Insurance.  With respect to each Mortgaged Property, obtain flood
      insurance in such total amount as the Administrative Agent or the Required
      Lenders may from time to time require, if at any time the area in which any
      improvements located on any Mortgaged Property is designated a “flood hazard
      area” in any Flood Insurance Rate Map published by the Federal Emergency
      Management Agency (or any successor agency), and otherwise comply with the
      National Flood Insurance Program as set forth in the Flood Disaster Protection
      Act of 1973, as amended from time to time.

     

     

    (e)  Broker’s
      Report.  Deliver to the Administrative Agent and the Collateral
      Agent and the Lenders a report of a reputable insurance broker with respect
      to
      such insurance and such supplemental reports with respect thereto as the
      Administrative Agent or the Collateral Agent may from time to time reasonably
      request.

     

     

    (f)  Mortgaged
      Properties.  No Loan Party that is an owner of Mortgaged Property
      shall take any action that is reasonably likely to be the basis for termination,
      revocation or denial of any insurance coverage required to be maintained under
      such Loan Party’s respective Mortgage or that could be the basis for a defense
      to any claim under any Insurance Policy maintained in respect of the Premises,
      and each Loan Party shall otherwise comply in all material respects with all
      Insurance Requirements in respect of the Premises; provided, however,
      that each Loan Party may, at its own expense and after written notice to the
      Administrative Agent, (i) contest the applicability or enforceability of any
      such Insurance Requirements by appropriate legal proceedings, the prosecution
      of
      which does not constitute a basis for cancellation or revocation of any
      insurance coverage required under this Section 5.04 or (ii) cause the
      Insurance Policy containing any such Insurance Requirement to be replaced by
      a
      new policy complying with the provisions of this Section
      5.04.

     

    Section
      5.05  Obligations
      and Taxes

     

    (a)  Payment
      of Obligations.  Pay its Indebtedness and other obligations
      promptly and in accordance with their terms and pay and discharge promptly
      when
      due all Taxes, assessments and governmental charges or levies imposed upon
      it or
      upon its income or profits or in respect of its property, before the same shall
      become delinquent or in default, as well as all lawful claims for labor,
      services, materials and supplies or otherwise that, if unpaid, might give rise
      to a Lien other than a Permitted Lien upon such properties or any part thereof;
      provided that such payment and discharge shall not be required with
      respect to any such Tax, assessment, charge, levy or claim so long as (x)(i)
      the
      validity or amount thereof shall be contested in good faith by appropriate
      proceedings timely instituted and diligently conducted and the applicable
      Company shall have set aside on its books adequate reserves or other appropriate
      provisions with respect thereto in accordance with GAAP, (ii) such contest
      operates to suspend collection of the contested obligation, Tax, assessment
      or
      charge and enforcement of a Lien other than a Permitted Lien and (iii) in the
      case of Collateral, the applicable Company shall have otherwise complied with
      the Contested Collateral Lien Conditions and (y) the failure to pay could not
      reasonably be expected to result in a Material Adverse Effect.

     

     

    (b)  Filing
      of Returns.  Timely and correctly file all material Tax Returns
      required to be filed by it.  Withhold, collect and remit all Taxes
      that it is required to collect, withhold or remit.

     

     

    (c)  Tax
      Shelter Reporting.  Borrower does not intend to treat the Loans as
      being a “reportable transaction” within the meaning of Treasury Regulation
      Section 1.6011-4.  In the event Borrower determines to take any action
      inconsistent with such intention, it will promptly notify the Administrative
      Agent thereof.

     

    Section
      5.06  Employee
      Benefits

     

    (a)  Comply
      in
      all material respects with the applicable provisions of ERISA and the Code
      and
      (b) furnish to the Administrative Agent (x) as soon as possible after, and
      in
      any event within five days after any Responsible Officer of any Company or
      any
      ERISA Affiliates of any Company knows or has reason to know that, any ERISA
      Event has occurred that, alone or together with any other ERISA Event could
      reasonably be expected to result in liability of the Companies or any of their
      ERISA Affiliates in an aggregate amount exceeding $10.0 million or the
      imposition of Liens securing actual or asserted liability in an aggregate amount
      exceeding $10.0 million, a statement of a Financial Officer of Borrower setting
      forth details as to such ERISA Event and the action, if any, that the Companies
      propose to take with respect thereto, and (y) upon request by the Administrative
      Agent, copies of (i) each Schedule B (Actuarial Information) to the annual
      report (Form 5500 Series) filed by any Company or any ERISA Affiliate with
      the
      Internal Revenue Service with respect to each Plan; (ii) the most recent
      actuarial valuation report for each Plan; (iii) all notices received by any
      Company or any ERISA Affiliate from a Multiemployer Plan sponsor or any
      governmental agency concerning an ERISA Event; and (iv) such other documents
      or
      governmental reports or filings relating to any Plan (or employee benefit plan
      sponsored or contributed to by any Company) as the Administrative Agent shall
      reasonably request.

     

    Section
      5.07  Maintaining
      Records; Access to Properties and Inspections; Annual
      Meetings

     

    (a)  Keep
      proper books of record and account in which full, true and correct entries
      in
      conformity with GAAP and all Requirements of Law are made of all dealings and
      transactions in relation to its business and activities.  Each Company
      will permit any representatives designated by the Administrative Agent or any
      Lender to visit and inspect the financial records and the property of such
      Company at reasonable times and as often as reasonably requested and to make
      extracts from and copies of such financial records, and permit any
      representatives designated by the Administrative Agent or any Lender to discuss
      the affairs, finances, accounts and condition of any Company with Responsible
      Officers thereof and advisors therefor (including independent
      accountants).

     

     

    (b)  Within
      150 days after the end of each fiscal year of the Companies, at the request
      of
      the Administrative Agent or Required Lenders, hold a meeting (at a mutually
      agreeable location, venue and time or, at the option of the Administrative
      Agent, by conference call, the costs of such venue or call to be paid by
      Borrower) with all Lenders who choose to attend such meeting, at which meeting
      shall be reviewed the financial results of the previous fiscal year and the
      financial condition of the Companies and the budgets presented for the current
      fiscal year of the Companies.

     

    Section
      5.08  Use
      of Proceeds

     

    .  Use
      the proceeds of the Loans only for the purposes set forth in Section 3.12
      and request the issuance of Letters of Credit only for the purposes set forth
      in
      the definition of Commercial Letter of Credit or Standby Letter of Credit,
      as
      the case may be.

     

    Section
      5.09  Compliance
      with Environmental Laws; Environmental Reports

     

    (a)  Comply,
      and cause all lessees and other persons occupying Real Property owned, operated
      or leased by any Company to comply, in all material respects with all
      Environmental Laws and Environmental Permits applicable to its operations and
      Real Property; obtain and renew all material Environmental Permits applicable
      to
      its operations and Real Property; and conduct all Responses required by, and
      in
      accordance with, Environmental Laws; provided that no Company shall be
      required to undertake any Response to the extent that its obligation to do
      so is
      being contested in good faith and by proper proceedings and appropriate reserves
      are being maintained with respect to such circumstances in accordance with
      GAAP.

     

     

    (b)  If
      a
      Default caused by reason of a breach of Section 3.18 or Section
      5.09(a) shall have occurred and be continuing for more than 20 days without
      the Companies commencing activities reasonably likely to cure such Default
      in
      accordance with Environmental Laws, at the written request of the Administrative
      Agent or the Required Lenders through the Administrative Agent, provide to
      the
      Lenders within 45 days after such request, at the expense of Borrower, an
      environmental assessment report regarding the matters which are the subject
      of
      such Default, including, where appropriate, soil and/or groundwater sampling,
      prepared by an environmental consulting firm and, in the form and substance,
      reasonably acceptable to the Administrative Agent and indicating the presence
      or
      absence of Hazardous Materials and the estimated cost of any compliance or
      Response to address them.

     

    Section
      5.10  Additional
      Collateral; Additional Subsidiary
      Guarantors

     

    (a)  Subject
      to this Section 5.10, with respect to any property acquired after
      the Closing Date by any Loan Party that is intended to be subject to the Lien
      created by any of the Security Documents but is not so subject, promptly (and
      in
      any event within 30 days after the acquisition thereof) (i) execute and deliver
      to the Administrative Agent and the Collateral Agent such amendments or
      supplements to the relevant Security Documents or such other documents as the
      Administrative Agent or the Collateral Agent shall deem necessary or advisable
      to grant to the Collateral Agent, for its benefit and for the benefit of the
      other Secured Parties, a Lien on such property subject to no Liens other than
      Permitted Collateral Liens, and (ii) take all actions necessary to cause such
      Lien to be duly perfected to the extent required by such Security Document
      in
      accordance with all applicable Requirements of Law, including the filing of
      financing statements in such jurisdictions as may be reasonably requested by
      the
      Administrative Agent.  Borrower shall otherwise take such actions and
      execute and/or deliver to the Collateral Agent such documents as the
      Administrative Agent or the Collateral Agent shall require to confirm the
      validity, perfection and priority of the Lien of the Security Documents on
      such
      after-acquired properties.

     

     

    (b)  With
      respect to any person that is or becomes a Subsidiary after the Closing Date,
      promptly (and in any event within 30 days after such person becomes a Subsidiary
      (it being understood that for purposes of this clause (b), any Subsidiary with
      respect to which the second sentence of this clause (b) applies shall be deemed
      to have become a Subsidiary at such time as the provisions of the second
      sentence of this clause (b) shall cease to apply) (i) deliver to the Collateral
      Agent the certificates, if any, representing all of the Equity Interests of
      such
      Subsidiary, together with undated stock powers or other appropriate instruments
      of transfer executed and delivered in blank by a duly authorized officer of
      the
      holder(s) of such Equity Interests, and all intercompany notes owing from such
      Subsidiary to any Loan Party together with instruments of transfer executed
      and
      delivered in blank by a duly authorized officer of such Loan Party and (ii)
      cause such new Subsidiary (A) to execute a Joinder Agreement or such comparable
      documentation to become a Subsidiary Guarantor and a joinder agreement to the
      applicable Security Agreement, substantially in the form annexed thereto or,
      in
      the case of a Foreign Subsidiary, execute a security agreement compatible with
      the laws of such Foreign Subsidiary’s jurisdiction in form and substance
      reasonably satisfactory to the Administrative Agent, and (B) to take all actions
      necessary or advisable in the opinion of the Administrative Agent or the
      Collateral Agent to cause the Lien created by the applicable Security Agreement
      to be duly perfected to the extent required by such agreement in accordance
      with
      all applicable Requirements of Law, including the filing of financing statements
      in such jurisdictions as may be reasonably requested by the Administrative
      Agent
      or the Collateral Agent.  Notwithstanding the foregoing, (x) (1) the
      Equity Interests required to be delivered to the Collateral Agent upon the
      creation or acquisition of a Foreign Subsidiary after the Closing Date pursuant
      to clause (i) of this Section 5.10(b) shall not include any
      Equity Interests of a Foreign Subsidiary created or acquired after the Closing
      Date, and (2) no Foreign Subsidiary shall be required to take the actions
      specified in clause (ii) of this Section 5.10(b), if, in
      the case of either clause (1) or (2), doing so would constitute an investment
      of
      earnings in United States property under Section 956 (or a successor provision)
      of the Code, which investment would or could reasonably be expected to trigger
      an increase in the net income of a United States shareholder of such Subsidiary
      pursuant to Section 951 (or a successor provision) of the Code, as reasonably
      determined by the Administrative Agent; provided that this exception
      shall not apply to (A) Voting Stock of any Subsidiary which is a first-tier
      controlled foreign corporation (as defined in Section 957(a) of the Code)
      representing 66% of the total voting power of all outstanding Voting Stock
      of
      such Subsidiary and (B) 100% of the Equity Interests not constituting Voting
      Stock of any such Subsidiary, except that any such Equity Interests constituting
      “stock entitled to vote” within the meaning of Treasury Regulation Section
      1.956-2(c)(2) shall be treated as Voting Stock for purposes of this Section
      5.10(b) and (y) (1) the Equity Interests required to be
      delivered to the Collateral Agent pursuant to clause (i) of this Section
      5.10(b) shall not include any Equity Interests of an Outsourcing Project
      Subsidiary so long as the terms of any Outsourcing Project Indebtedness of
      such
      Outsourcing Project Subsidiary permitted under Section
      6.01(m) (or the terms of any related Outsourcing Project
      Guarantee permitted under Section 6.01(m)) preclude
      the pledge of the Equity Interests of such Outsourcing Project Subsidiary and
      (2) no Outsourcing Project Subsidiary shall be required to take the actions
      specified in clause (ii) of this Section 5.10(b) so long as such
      Outsourcing Project Subsidiary has any Outsourcing Project Indebtedness
      permitted under Section 6.01(m) that by its terms precludes
      such Outsourcing Project Subsidiary from becoming party this Agreement and
      any
      applicable Security Documents.

     

     

    (c)  Promptly
      grant to the Collateral Agent, within 30 days of the acquisition thereof, a
      security interest in and Mortgage on (i) each Real Property owned in fee by
      such
      Loan Party as is acquired by such Loan Party after the Closing Date and that,
      together with any improvements thereon, individually has a fair market value
      of
      at least $2.5 million, and (ii) unless the Collateral Agent otherwise consents,
      each leased Real Property of such Loan Party (other than leased Real Property
      used primarily for office space of Loan Parties) which lease individually has
      a
      fair market value of at least $2.5 million, in each case, as additional security
      for the Secured Obligations (unless the subject property is already mortgaged
      to
      a third party to the extent permitted by Section 6.02).  Such
      Mortgages shall be granted pursuant to documentation reasonably satisfactory
      in
      form and substance to the Administrative Agent and the Collateral Agent and
      shall constitute valid and enforceable perfected Liens subject only to Permitted
      Collateral Liens or other Liens acceptable to the Collateral
      Agent.  The Mortgages or instruments related thereto shall be duly
      recorded or filed in such manner and in such places as are required by law
      to
      establish, perfect, preserve and protect the Liens in favor of the Collateral
      Agent required to be granted pursuant to the Mortgages and all taxes, fees
      and
      other charges payable in connection therewith shall be paid in
      full.  Such Loan Party shall otherwise take such actions and execute
      and/or deliver to the Collateral Agent such documents as the Administrative
      Agent or the Collateral Agent shall require to confirm the validity, perfection
      and priority of the Lien of any existing Mortgage or new Mortgage against such
      after-acquired Real Property (including a Title Policy, a Survey (or such other
      information as is sufficient to allow the issuance of the Title Policy in
      respect of such Mortgage as an ALTA extended coverage mortgagee title insurance
      policy) and local counsel opinion (in form and substance reasonably satisfactory
      to the Administrative Agent and the Collateral Agent) in respect of such
      Mortgage).

     

     

    (d)  Notwithstanding
      anything in this Agreement to the contrary, this Section 5.10
      shall not require the creation or perfection of pledges of or security interests
      in, or the obtaining of title insurance or surveys with respect to, any
      particular assets if and for so long as, in the reasonable judgment of the
      Administrative Agent, the cost of creating or perfecting such pledges or
      security interests in such assets or obtaining title insurance or surveys in
      respect of such assets shall be excessive in view of the benefits to be obtained
      by the Lenders therefrom.  Notwithstanding any other provision of this
      Agreement or any Security Document, the Collateral Agent may grant extensions
      of
      time for the perfection of security interests in or the obtaining of title
      insurance or surveys with respect to particular assets where it determines,
      in
      its sole discretion, that perfection cannot be accomplished without undue effort
      or expense by the time or times at which it would otherwise be required by
      this
      Agreement or the Security Documents.

     

    Section
      5.11  Security
      Interests; Further Assurances

     

    .  Promptly,
      upon the reasonable request of the Administrative Agent, the Collateral Agent
      or
      any Lender, at Borrower’s expense, execute, acknowledge and deliver, or cause
      the execution, acknowledgment and delivery of, and thereafter register, file
      or
      record, or cause to be registered, filed or recorded, in an appropriate
      governmental office, any document or instrument supplemental to or confirmatory
      of the Security Documents or otherwise deemed by the Administrative Agent or
      the
      Collateral Agent reasonably necessary or desirable for the continued validity,
      perfection and priority of the Liens on the Collateral covered thereby subject
      to no other Liens other than Permitted Collateral Liens, or obtain any consents
      or waivers as may be necessary or appropriate in connection
      therewith.  Deliver or cause to be delivered to the Administrative
      Agent and the Collateral Agent from time to time such other documentation,
      consents, authorizations, approvals and orders in form and substance reasonably
      satisfactory to the Administrative Agent and the Collateral Agent as the
      Administrative Agent and the Collateral Agent shall reasonably deem necessary
      to
      perfect or maintain the Liens on the Collateral pursuant to the Security
      Documents.  Upon the exercise by the Administrative Agent, the
      Collateral Agent or any Lender of any power, right, privilege or remedy pursuant
      to any Loan Document which requires any consent, approval, registration,
      qualification or authorization of any Governmental Authority execute and deliver
      all applications, certifications, instruments and other documents and papers
      that the Administrative Agent, the Collateral Agent or such Lender may
      require.  If the Administrative Agent, the Collateral Agent or the
      Required Lenders determine that they are required by a Requirement of Law to
      have appraisals prepared in respect of the Real Property of any Loan Party
      constituting Collateral, Borrower shall provide to the Administrative Agent
      appraisals that satisfy the applicable requirements of the Real Estate Appraisal
      Reform Amendments of FIRREA and are otherwise in form and substance satisfactory
      to the Administrative Agent and the Collateral Agent.

     

    Section
      5.12  Information
      Regarding Collateral

     

    (a)  Not
      effect any change (i) in any Loan Party’s legal name, (ii) in the location of
      any Loan Party’s chief executive office, (iii) in any Loan Party’s identity or
      organizational structure, (iv) in any Loan Party’s Federal Taxpayer
      Identification Number or organizational identification number, if any, or (v)
      in
      any Loan Party’s jurisdiction of organization (in each case, including by
      merging with or into any other entity, reorganizing, dissolving, liquidating,
      reorganizing or organizing in any other jurisdiction), until (A) it shall have
      given the Collateral Agent and the Administrative Agent not less than 30 days’
prior written notice (in the form of an Officer’s Certificate), or such lesser
      notice period agreed to by the Collateral Agent, of its intention so to do,
      clearly describing such change and providing such other information in
      connection therewith as the Collateral Agent or the Administrative Agent may
      reasonably request and (B) it shall have taken all action reasonably
      satisfactory to the Collateral Agent to maintain the perfection and priority
      of
      the security interest of the Collateral Agent for the benefit of the Secured
      Parties in the Collateral, if applicable.  Each Loan Party agrees to
      promptly provide the Collateral Agent with certified Organizational Documents
      reflecting any of the changes described in the preceding
      sentence.  Each Loan Party also agrees to promptly notify the
      Collateral Agent of any change in the location of any office in which it
      maintains books or records relating to Collateral owned by it or any office
      or
      facility at which Collateral is located (including the establishment of any
      such
      new office or facility), other than changes in location to a Mortgaged Property
      or a leased property subject to a Landlord Access Agreement.

     

     

    (b)  Concurrently
      with the delivery of financial statements pursuant to Section 5.01(a),
      deliver to the Administrative Agent and the Collateral Agent a Perfection
      Certificate Supplement (to the extent there has occurred any change in the
      information disclosed in the Perfection Certificate or the most recently
      delivered Perfection Certificate Supplement, as the case may be) and a
      certificate of a Financial Officer and the chief legal officer of Borrower
      certifying that all UCC financing statements (including fixture filings, as
      applicable) or other appropriate filings, recordings or registrations, including
      all refilings, rerecordings and reregistrations, containing a description of
      the
      Collateral have been filed of record in each governmental, municipal or other
      appropriate office in each jurisdiction necessary to protect and perfect the
      security interests and Liens under the Security Documents for a period of not
      less than 18 months after the date of such certificate (except as noted therein
      with respect to any continuation statements to be filed within such
      period).

     

    Section
      5.13  Post-Closing
      Covenants

     

    .  Execute
      and deliver the documents and complete the tasks set forth on Schedule
      5.13, in each case within the time limits specified on such
      schedule.

     

    Section
      5.14  Affirmative
      Covenants with Respect to Leases

     

    .  With
      respect to each Lease where a Loan Party is the lessor, the respective Loan
      Party shall perform all the obligations imposed upon the landlord under such
      Lease and enforce all of the tenant’s obligations thereunder, except where the
      failure to so perform or enforce could not reasonably be expected to result
      in a
      Property Material Adverse Effect.

     

     

    ARTICLE
      VI                                

     

    NEGATIVE
      COVENANTS

     

     

    Each
      Loan
      Party warrants, covenants and agrees with each Lender that, so long as this
      Agreement shall remain in effect and until the Commitments have been terminated
      and the principal of and interest on each Loan, all Fees and all other expenses
      or amounts payable under any Loan Document have been paid in full and all
      Letters of Credit have been canceled or have expired (or have been cash
      collateralized in a manner reasonably satisfactory to the Administrative Agent)
      and all amounts drawn thereunder have been reimbursed in full, unless the
      Required Lenders shall otherwise consent in writing, no Loan Party will, nor
      will they cause or permit any Subsidiaries to:

     

    Section
      6.01  Indebtedness

     

    .  Incur,
      create, assume or permit to exist, directly or indirectly, any Indebtedness,
      except

     

     

    (a)  Indebtedness
      incurred under this Agreement and the other Loan Documents;

     

     

    (b)  (i)
      (x)
      Indebtedness outstanding on the Closing Date and listed on Schedule
      6.01(b), (y) Indebtedness of Borrower and Subsidiary Guarantors under the
      Senior Subordinated Note Documents and (z) Indebtedness under the Convertible
      Senior Subordinated Notes Documents and (ii) refinancings of Indebtedness
      described in the foregoing clause (i); provided that (A) any such
      refinancing Indebtedness is in an aggregate principal amount not greater than
      the aggregate principal amount of the Indebtedness being renewed or refinanced,
      plus the amount of any premiums required to be paid thereon and
      reasonable fees and expenses associated therewith, (B) such refinancing
      Indebtedness has a later or equal final maturity and longer or equal weighted
      average life than the Indebtedness being renewed or refinanced and (C) the
      covenants, events of default, subordination and other provisions thereof
      (including any guarantees thereof) shall be, in the aggregate, no less favorable
      to the Lenders than (1) those contained in the Indebtedness being renewed or
      refinanced or (2) in the case of a refinancing of Indebtedness under the
      Convertible Senior Subordinated Notes Documents, those contained in the Senior
      Subordinated Note Documents (or any refinancing of the Senior Subordinated
      Note
      Documents permitted hereby) (for the avoidance of doubt, it being expressly
      understood and agreed that any such refinancing Indebtedness that refinances
      Subordinated Indebtedness shall be required to be Subordinated
      Indebtedness);

     

     

    (c)  Indebtedness
      under Hedging Obligations with respect to interest rates, foreign currency
      exchange rates or commodity prices, in each case not entered into for
      speculative purposes; provided that if such Hedging Obligations relate
      to interest rates, (i) such Hedging Obligations relate to payment obligations
      on
      Indebtedness otherwise permitted to be incurred by the Loan Documents and (ii)
      the notional principal amount of such Hedging Obligations at the time incurred
      does not exceed the principal amount of the Indebtedness to which such Hedging
      Obligations relate;

     

     

    (d)  Indebtedness
      permitted by Section 6.04(a) and (f);

     

     

    (e)  Indebtedness
      in respect of Purchase Money Obligations and Capital Lease Obligations, and
      refinancings or renewals thereof, in an aggregate amount not to exceed $20.0
      million at any time outstanding;

     

     

    (f)  Indebtedness
      incurred by Foreign Subsidiaries in an aggregate amount not to exceed $30.0
      million at any time outstanding;

     

     

    (g)  Indebtedness
      in respect of bid, performance or surety bonds, workers’ compensation claims,
      self-insurance obligations and bankers acceptances issued for the account of
      any
      Company in the ordinary course of business, including guarantees or obligations
      of any Company with respect to letters of credit supporting such bid,
      performance or surety bonds, workers’ compensation claims, self-insurance
      obligations and bankers acceptances (in each case other than for an obligation
      for money borrowed);

     

     

    (h)  Contingent
      Obligations of any Loan Party in respect of Indebtedness otherwise permitted
      under this Section 6.01 (other than Indebtedness permitted under
Section 6.01(k) and (m)); provided that any such
      Contingent Obligations in respect of Indebtedness permitted under Section
      6.01(b) and (l) shall be Subordinated Indebtedness, and the
      subordination provisions thereof shall be, in the aggregate, no less favorable
      to the Lenders than those contained in the Indebtedness under Section
      6.01(b) or (l) with respect to which such Contingent Obligations
      relate;

     

     

    (i)  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;
      provided, however, that such Indebtedness is extinguished within five
      Business Days (or such longer period as may be determined by the Administrative
      Agent in its sole discretion) of incurrence;

     

     

    (j)  Indebtedness
      arising in connection with endorsement of instruments for deposit in the
      ordinary course of business;

     

     

    (k)  unsecured
      Indebtedness of any Company in an aggregate amount not to exceed $50.0 million
      at any time outstanding;

     

     

    (l)  unsecured
      Subordinated Indebtedness of Borrower in an aggregate amount not exceeding
      $100,000,000 at any time outstanding; provided that (i) the proceeds
      thereof are used either (x) to repay the Obligations hereunder or (y) to
      consummate Permitted Acquisitions and (ii) (A) no part of the principal part
      of
      such Indebtedness shall have a maturity date earlier than the 180th day following
      the
      Term Loan Maturity Date, (B) after giving effect to the incurrence of such
      Indebtedness on a Pro Forma Basis, Borrower shall be in compliance with all
      covenants set forth in Section 6.10 as of the most recent Test Period
      (assuming, for purposes of Section 6.10(a) and (b), that
      such incurrence of Indebtedness, and each other incurrence of Indebtedness
      under
      this Section 6.01(l) consummated since the first day of the relevant Test
      Period for each of the financial covenants set forth in Section 6.10
      ending on or prior to the date of such incurrence of Indebtedness, had occurred
      on the first day of such relevant Test Period) and Borrower shall have delivered
      to the Administrative Agent an Officer’s Certificate to such effect setting
      forth in reasonable detail the computations necessary to determine such
      compliance, (C) at the time of the incurrence of such Indebtedness and after
      giving effect thereto, no Default or Event of Default shall have occurred or
      be
      continuing and (D) the documentation governing such Indebtedness contains
      customary market terms (including subordination terms reasonably acceptable
      to
      the Administrative Agent); and

     

     

    (m)  (i)
      Outsourcing Project Indebtedness incurred to finance the acquisition,
      construction or operation of Outsourcing Project Assets and any refinancings
      thereof if (x) such refinancing Indebtedness does not increase the principal
      amount thereof and is issued on terms and conditions reasonably satisfactory
      to
      the Administrative Agent (including a maturity date not earlier than the
      maturity date of the Outsourcing Project Indebtedness being refinanced) and
      (y)
      no Default or Event of Default has occurred and is continuing immediately prior
      to and after giving effect to the issuance thereof, in an aggregate principal
      amount not to exceed, together with all other Indebtedness incurred pursuant
      to
      this Section 6.01(m), $50.0 million at any one time
      outstanding and (ii) Outsourcing Project Guarantees of Borrower in respect
      of
      such Outsourcing Project Indebtedness.

     

     

    To
      the
      extent the release of (i) the Liens on the relevant Outsourcing Project Assets
      under the Security Documents or (ii) the Guarantee of the relevant Outsourcing
      Project Subsidiary under Article VII is necessary to permit (x) the
      incurrence of any Outsourcing Project Indebtedness permitted under
Section 6.01(m) or (y) the incurrence of Liens permitted
      under Section 6.02(q), so long as Borrower shall have
      provided the Administrative Agent such Officer’s Certificates and other
      documents as the Administrative Agent shall reasonably request in order to
      demonstrate compliance with Sections 6.01(m) and
6.02(q) and that the proceeds
      of any such Outsourcing
      Project Indebtedness will be applied in a manner not prohibited by this
      Agreement and the other Loan Documents and the Administrative Agent determines
      in good faith that no dispute exists or is likely to arise between the Lenders
      and Borrower with respect to such incurrence, the Agents shall take all actions
      they deem appropriate in order to effect such necessary releases.

     

    Section
      6.02  Liens

     

    .  Create,
      incur, assume or permit to exist, directly or indirectly, any Lien on any
      property now owned or hereafter acquired by it or on any income or revenues
      or
      rights in respect of any thereof, except the following (collectively, the
“Permitted Liens”):

     

     

    (a)  inchoate
      Liens for taxes, assessments or governmental charges or levies not yet due
      and
      payable or delinquent and Liens for taxes, assessments or governmental charges
      or levies, which (i) are being contested in good faith by appropriate
      proceedings for which adequate reserves have been established in accordance
      with
      GAAP, which proceedings (or orders entered in connection with such proceedings)
      have the effect of preventing the forfeiture or sale of the property subject
      to
      any such Lien, and (ii) in the case of any such charge or claim which has or
      may
      become a Lien against any of the Collateral, such Lien and the contest thereof
      shall satisfy the Contested Collateral Lien Conditions;

     

     

    (b)  Liens
      in
      respect of property of any Company imposed by Requirements of Law, which were
      incurred in the ordinary course of business and do not secure Indebtedness
      for
      borrowed money, such as carriers’, warehousemen’s, materialmen’s, landlords’,
      workmen’s, suppliers’, repairmen’s and mechanics’ Liens and other similar Liens
      arising in the ordinary course of business, and (i) which do not in the
      aggregate materially detract from the value of the property of the Companies,
      taken as a whole, and do not materially impair the use thereof in the operation
      of the business of the Companies, taken as a whole, (ii) which, if they secure
      obligations that are then due and unpaid, are being contested in good faith
      by
      appropriate proceedings for which adequate reserves have been established in
      accordance with GAAP, which proceedings (or orders entered in connection with
      such proceedings) have the effect of preventing the forfeiture or sale of the
      property subject to any such Lien, and (iii) in the case of any such Lien which
      has or may become a Lien against any of the Collateral, such Lien and the
      contest thereof shall satisfy the Contested Collateral Lien
      Conditions;

     

     

    (c)  any
      Lien
      in existence on the Closing Date and set forth on Schedule 6.02(c) and
      any Lien granted as a replacement or substitute therefor; provided that
      any such replacement or substitute Lien (i) except as permitted by Section
      6.01(b)(ii)(A), does not secure an aggregate amount of Indebtedness, if any,
      greater than that secured on the Closing Date and (ii) does not encumber any
      property other than the property subject thereto on the Closing Date (any such
      Lien, an “Existing Lien”);

     

     

    (d)  easements,
      rights-of-way, restrictions (including zoning restrictions), covenants,
      licenses, encroachments, protrusions and other similar charges or encumbrances,
      and minor title deficiencies on or with respect to any Real Property, in each
      case whether now or hereafter in existence, not (i) securing Indebtedness,
      (ii)
      individually or in the aggregate materially impairing the value or marketability
      of such Real Property or (iii) individually or in the aggregate materially
      interfering with the ordinary conduct of the business of the Companies at such
      Real Property;

     

     

    (e)  Liens
      arising out of judgments, attachments or awards not resulting in a Default
      and
      in respect of which such Company shall in good faith be prosecuting an appeal
      or
      proceedings for review in respect of which there shall be secured a subsisting
      stay of execution pending such appeal or proceedings and, in the case of any
      such Lien which has or may become a Lien against any of the Collateral, such
      Lien and the contest thereof shall satisfy the Contested Collateral Lien
      Conditions;

     

     

    (f)  Liens
      (other than any Lien imposed by ERISA) (x) imposed by Requirements of Law or
      deposits made in connection therewith in the ordinary course of business in
      connection with workers’ compensation, unemployment insurance and other types of
      social security legislation, (y) incurred in the ordinary course of business
      to
      secure the performance of tenders, statutory obligations (other than excise
      taxes), surety, stay, customs and appeal bonds, statutory bonds, bids, leases,
      government contracts, trade contracts, performance and return of money bonds
      and
      other similar obligations (exclusive of obligations for the payment of borrowed
      money) or (z) arising by virtue of deposits made in the ordinary course of
      business to secure liability for premiums to insurance carriers;
provided that (i) with respect to clauses (x), (y) and (z) of this
      paragraph (f), such Liens are for amounts not yet due and payable or delinquent
      or, to the extent such amounts are so due and payable, such amounts are being
      contested in good faith by appropriate proceedings for which adequate reserves
      have been established in accordance with GAAP, which proceedings for orders
      entered in connection with such proceedings have the effect of preventing the
      forfeiture or sale of the property subject to any such Lien, (ii) to the extent
      such Liens are not imposed by Requirements of Law, such Liens shall in no event
      encumber any property other than cash and Cash Equivalents, (iii) in the case
      of
      any such Lien against any of the Collateral, such Lien and the contest thereof
      shall satisfy the Contested Collateral Lien Conditions and (iv) the aggregate
      amount of deposits at any time pursuant to clause (y) and clause (z) of this
      paragraph (f) shall not exceed $10.0 million in the aggregate;

     

     

    (g)  Leases
      of
      the properties of any Company, in each case entered into in the ordinary course
      of such Company’s business so long as such Leases (if made by Loan Parties) are
      subordinate in all respects to the Liens granted and evidenced by the Security
      Documents and do not, individually or in the aggregate, (i) interfere in any
      material respect with the ordinary conduct of the business of any Company or
      (ii) materially impair the use (for its intended purposes) or the value of
      the
      property subject thereto;

     

     

    (h)  Liens
      arising out of conditional sale, title retention, consignment or similar
      arrangements for the sale of goods entered into by any Company in the ordinary
      course of business in accordance with the past practices of such
      Company;

     

     

    (i)  Liens
      securing Indebtedness incurred pursuant to Section 6.01(e);
provided that any such Liens attach only to the property being financed
      (or refinanced) pursuant to such Indebtedness and do not encumber any other
      property of any Company;

     

     

    (j)  bankers’
      Liens, rights of setoff and other similar Liens existing solely with respect
      to
      cash and Cash Equivalents on deposit in one or more accounts maintained by
      any
      Company, in each case granted in the ordinary course of business in favor of
      the
      bank or banks with which such 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, unless such Liens are non-consensual and arise by
      operation of law, in no case shall any such Liens secure (either directly or
      indirectly) the repayment of any Indebtedness;

     

     

    (k)  Liens
      on
      property of a person existing at the time such person is acquired or merged
      with
      or into or consolidated with any Company to the extent permitted hereunder
      (and
      not created in anticipation or contemplation thereof); provided that
      such Liens do not extend to property not subject to such Liens at the time
      of
      acquisition (other than improvements thereon and proceeds thereof) and are
      no
      more favorable to the lienholders than such existing Lien;

     

     

    (l)  Liens
      granted pursuant to the Security Documents to secure the Secured
      Obligations;

     

     

    (m)  licenses
      of Intellectual Property granted by any Company in the ordinary course of
      business and not interfering in any material respect with the ordinary conduct
      of business of the Companies;

     

     

    (n)  the
      filing of UCC financing statements solely as a precautionary measure in
      connection with operating leases or consignment of goods;

     

     

    (o)  Liens
      securing Indebtedness incurred pursuant to Section 6.01(f);
provided that (i) such Liens do not extend to, or encumber, property
      which constitutes Collateral and (ii) such Liens extend only to (x) the property
      (or Equity Interests) of the Foreign Subsidiary incurring such Indebtedness
      and
      (y) the property of any other Foreign Subsidiaries that guarantee such
      Indebtedness;

     

     

    (p)  Liens
      incurred in the ordinary course of business of any Company with respect to
      obligations that do not in the aggregate exceed $10.0 million at any time
      outstanding, so long as such Liens, to the extent covering any Collateral,
      are
      junior to the Liens granted pursuant to the Security Documents; and

     

     

    (q)  Liens
      on
      the Outsourcing Project Assets of an Outsourcing Project Subsidiary securing
      the
      Outsourcing Project Indebtedness of such Outsourcing Project Subsidiary
      permitted by Section 6.01(m);

     

     

    provided,
      however, that no consensual Liens shall be permitted to exist, directly or
      indirectly, on any Securities Collateral, other than Liens granted pursuant
      to
      the Security Documents.

     

    Section
      6.03  Sale
      and Leaseback Transactions

     

    .  Enter
      into any arrangement, directly or indirectly, with any person whereby it shall
      sell or transfer any property, real or personal, used or useful in its business,
      whether now owned or hereafter acquired, and thereafter rent or lease such
      property or other property which it intends to use for substantially the same
      purpose or purposes as the property being sold or transferred (a “Sale
      and Leaseback Transaction”) unless (i) the sale of such property is
      permitted by Section 6.06 and (ii) any Liens arising in connection with
      its use of such property are permitted by Section 6.02.

     

    Section
      6.04  Investments,
      Loans and Advances

     

    .  Directly
      or indirectly, lend money or credit (by way of guarantee or other credit support
      (including, without limitation, the provision of letters of credit for the
      account of such person) or otherwise) or make advances to any person, or
      purchase or acquire any stock, bonds, notes, debentures or other obligations
      or
      securities of, or any other interest in, or make any capital contribution to,
      any other 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 (all of the foregoing, collectively,
      “Investments”), except that the following shall be
      permitted:

     

     

    (a)  the
      Companies may consummate the Transactions in accordance with the Transaction
      Documents, it being expressly understood and agreed that Borrower may make
      equity contributions, loans and/or advances to Itron Acquisition Company on
      the
      Closing Date in an aggregate amount as is necessary to permit the consummation
      of the Acquisition (for the avoidance of doubt, it being expressly understood
      that any such Investments made pursuant to this Section 6.04(a) shall not
      reduce the amount of Investments permitted under Section 6.04(f));
provided that any Investment permitted under this Section
      6.04(a) made in the form of a loan or advance to, or by, any Loan Party
      shall be evidenced by a promissory note in form and substance reasonably
      satisfactory to the Administrative Agent and, in the case of a loan or advance
      by a Loan Party, pledged by such Loan Party as Collateral pursuant to the
      Security Documents;

     

     

    (b)  Investments
      outstanding on the Closing Date and identified on Schedule
      6.04(b);

     

     

    (c)  the
      Companies may (i) acquire and hold accounts receivables owing to any of them
      if
      created or acquired in the ordinary course of business and payable or
      dischargeable in accordance with customary terms, (ii) invest in, acquire and
      hold cash and Cash Equivalents, (iii) endorse negotiable instruments held for
      collection in the ordinary course of business or (iv) make lease, utility and
      other similar deposits in the ordinary course of business;

     

     

    (d)  Hedging
      Obligations incurred pursuant to Section 6.01(c);

     

     

    (e)  loans
      and
      advances to directors, employees and officers of Borrower and the Subsidiaries
      for bona fide business purposes and to purchase Equity Interests of
      Borrower, in aggregate amount not to exceed $2.0 million at any time
      outstanding; provided that no loans in violation of Section 402 of the
      Sarbanes-Oxley Act shall be permitted hereunder;

     

     

    (f)  Investments
      (i) by any Company in Borrower or any Subsidiary Guarantor (other than any
      Outsourcing Project Subsidiary), (ii) by a Subsidiary that is not a Subsidiary
      Guarantor in any other Subsidiary (other than any Outsourcing Project
      Subsidiary) that is not a Subsidiary Guarantor, (iii) by any Company in any
      Person, that, prior to such Investment, is an Outsourcing Project Subsidiary
      so
      long as the aggregate amount of Investments under this clause (iii) does not
      exceed $25.0 million, net of recoveries and distributions received in cash
      thereon by any Loan Party, at any time outstanding, (iv) by any Outsourcing
      Project Subsidiary in any other Outsourcing Project Subsidiary that is a Wholly
      Owned Subsidiary of such Outsourcing Project Subsidiary, (v) consisting of
      Outsourcing Project Guarantees by Borrower in respect of Outsourcing Project
      Indebtedness permitted under Section 6.01(m) and (vi) by Borrower
      or any Subsidiary Guarantor in any other Subsidiary that is not a Subsidiary
      Guarantor in an aggregate amount under this clause (vi) at any time outstanding
      not to exceed an amount equal to the difference between (x) $250.0 million
      minus (y) the aggregate amount of the Acquisition Consideration for all
      Foreign Acquisitions made since the Closing Date under Section 6.04(i);
provided that any Investment permitted under this Section
      6.04(f) made in the form of a loan or advance to, or by, any Loan Party
      shall be evidenced by an Intercompany Note and, in the case of a loan or advance
      by a Loan Party, pledged by such Loan Party as Collateral pursuant to the
      Security Documents;

     

     

    (g)  Investments
      in securities of trade creditors or customers in the ordinary course of business
      received upon foreclosure or pursuant to any plan of reorganization or
      liquidation or similar arrangement upon the bankruptcy or insolvency of such
      trade creditors or customers;

     

     

    (h)  Investments
      made by Borrower or any Subsidiary as a result of consideration received in
      connection with an Asset Sale made in compliance with Section
      6.06;

     

     

    (i)  Permitted
      Acquisitions; and

     

     

    (j)  other
      Investments in an aggregate amount not to exceed $25.0 million at any time
      outstanding.

     

     

    An
      Investment shall be deemed to be outstanding to the extent not returned in
      the
      same form as the original Investment to Borrower or any Subsidiary
      Guarantor.

     

    Section
      6.05  Mergers
      and Consolidations

     

    .  Wind
      up, liquidate or dissolve its affairs or enter into any transaction of merger
      or
      consolidation, except that the following shall be permitted:

     

     

    (a)  Asset
      Sales in compliance with Section 6.06;

     

     

    (b)  acquisitions
      in compliance with Section 6.07;

     

     

    (c)  any
      Company may merge or consolidate with or into Borrower or any Subsidiary
      Guarantor (as long as Borrower is the surviving person in the case of any merger
      or consolidation involving Borrower and a Subsidiary Guarantor is the surviving
      person and remains a Wholly Owned Subsidiary of Borrower in any other case);
      provided that the Lien on and security interest in such property
      granted or to be granted in favor of the Collateral Agent under the Security
      Documents shall be maintained or created in accordance with the provisions
      of
Section 5.10 or Section 5.11, as
      applicable;

     

     

    (d)  any
      Subsidiary that is not a Subsidiary Guarantor may merge or consolidate with
      or
      into any other Subsidiary that is not a Subsidiary Guarantor (as long as the
      surviving person is a Wholly Owned Subsidiary of
      Borrower); and

     

     

    (e)  any
      Subsidiary may dissolve, liquidate or wind up its affairs at any time;
provided that such dissolution, liquidation or winding up, as
      applicable, could not reasonably be expected to have a Material Adverse
      Effect.

     

     

    To
      the
      extent the Required Lenders or all the Lenders, as applicable, waive the
      provisions of this Section 6.05 with respect to the sale of any
      Collateral, or any Collateral is sold as permitted by this Section 6.05,
      such Collateral (unless sold to a Company) shall be sold free and clear of
      the
      Liens created by the Security Documents and, so long as Borrower shall have
      provided the Agents such certifications or documents as any Agent shall
      reasonably request in order to demonstrate compliance with this Section
      6.05, the Agents shall take all actions they deem appropriate in order to
      effect the foregoing.

     

    Section
      6.06  Asset
      Sales

     

    .  Effect
      any Asset Sale, or agree to effect any Asset Sale, except that the following
      shall be permitted:

     

     

    (a)  disposition
      of used, worn out, obsolete or surplus property by any Company in the ordinary
      course of business and the abandonment or other disposition of Intellectual
      Property that is, in the reasonable judgment of Borrower, no longer economically
      practicable to maintain or useful in the conduct of the business of the
      Companies taken as a whole;

     

     

    (b)  Asset
      Sales; provided that the aggregate consideration received in respect of
      all Asset Sales pursuant to this clause (b) shall not exceed $50.0 million
      in
      any four consecutive fiscal quarters of Borrower;

     

     

    (c)  leases
      of
      real or personal property in the ordinary course of business and in accordance
      with the applicable Security Documents;

     

     

    (d)  the
      Transactions as contemplated by the Transaction Documents;

     

     

    (e)  mergers
      and consolidations in compliance with Section 6.05;

     

     

    (f)  Investments
      in compliance with Section 6.04; and

     

     

    (g)  the
      sale,
      for consideration paid solely in cash, of the Sullivan Road Property (and all
      improvements thereon); provided that 100% of the Net Cash Proceeds
      thereof are applied in accordance with Section 2.10(c).

     

     

    To
      the
      extent the Required Lenders or all the Lenders, as applicable, waive the
      provisions of this Section 6.06 with respect to the sale of any
      Collateral, or any Collateral is sold as permitted by this Section 6.06,
      such Collateral (unless sold to a Company) shall be sold free and clear of
      the
      Liens created by the Security Documents, and, so long as Borrower shall have
      provided the Agents such certifications or documents as any Agent shall
      reasonably request in order to demonstrate compliance with this Section
      6.06, the Agents shall take all actions they deem appropriate in order to
      effect the foregoing.

     

    Section
      6.07  Acquisitions

     

    .  Purchase
      or otherwise acquire (in one or a series of related transactions) any part
      of
      the property (whether tangible or intangible) of any person, except that the
      following shall be permitted:

     

     

    (a)  Capital
      Expenditures by Borrower and the Subsidiaries shall be permitted to the extent
      permitted by Section 6.10(c);

     

     

    (b)  purchases
      and other acquisitions of inventory, materials, equipment and intangible
      property in the ordinary course of business;

     

     

    (c)  Investments
      in compliance with Section 6.04;

     

     

    (d)  leases
      of
      real or personal property in the ordinary course of business; provided
      that, in the case of leases entered into by Loan Parties, such leases are in
      accordance with the applicable Security Documents;

     

     

    (e)  the
      Transactions as contemplated by the Transaction Documents;

     

     

    (f)  Permitted
      Acquisitions; and

     

     

    (g)  mergers
      and consolidations in compliance with Section 6.05;

     

     

    provided
      that, in the case of any such transaction involving any Loan Party, the Lien
      on
      and security interest in such property granted or to be granted in favor of
      the
      Collateral Agent under the Security Documents shall be maintained or created
      in
      accordance with the provisions of Section 5.10 or Section 5.11, as
      applicable.

     

    Section
      6.08  Dividends

     

    .  Authorize,
      declare or pay, directly or indirectly, any Dividends with respect to any
      Company, except that the following shall be permitted:

     

     

    (a)  Dividends
      by any Company to Borrower or any Subsidiary Guarantor that is a Wholly Owned
      Subsidiary of Borrower;

     

     

    (b)  (i)
      Dividends by any Subsidiary that is not a Subsidiary Guarantor to any other
      Subsidiary that is not a Subsidiary Guarantor but is a Wholly Owned Subsidiary
      of Borrower and (ii) cash Dividends by any Subsidiary that is not a Wholly
      Owned
      Subsidiary of Borrower to the holders of its Equity Interests on a pro rata
basis;

     

     

    (c)  so
      long
      as no Default or Event of Default shall have occurred and is continuing or
      would
      result therefrom, Borrower may purchase common stock of Borrower or common
      stock
      options or warrants issued by Borrower from present or former officers or
      employees of any Company upon the death, disability or termination of employment
      of such officer or employee; provided that the aggregate amount of
      payments under this clause (c) (net of any proceeds received by Borrower after
      the Closing Date in connection with resales of any such common stock or common
      stock options so purchased) shall not exceed $1.0 million in any fiscal year
      of
      Borrower (provided that any such amount not expended in a particular fiscal
      year
      may be carried over for expenditure into any succeeding fiscal year so long
      as
      the aggregate amount expended in any one fiscal year pursuant to this Section
6.08(c) does not exceed $3.0 million; and

     

     

    (d)  Borrower
      may purchase common stock or common stock options or warrants issued by Borrower
      from shareholders who are not present or former officers or employees of any
      Company; provided that (i) the aggregate amount of all payments under
      this clause (d) does not exceed the sum of (x) $5.0 million plus (y) on
      a cumulative basis, commencing with fiscal year 2007, 25% of the aggregate
      Borrower ECF Amounts as of the date of such purchase and (ii) no Default or
      Event of Default has occurred and is continuing or would result therefrom;
      and
provided, further, that notwithstanding the foregoing, no payment made
      under clause (y) of this Section 6.08(d) shall exceed the
      Cumulative Excess Cash Flow Amount then in effect immediately prior to such
      payment.

     

    Section
      6.09  Transactions
      with Affiliates

     

    .  Enter
      into, directly or indirectly, any transaction or series of related transactions,
      whether or not in the ordinary course of business, with or for the benefit
      of
      any Affiliate of any Company (other than between or among Borrower and one
      or
      more Subsidiary Guarantors), other than on terms and conditions at least as
      favorable to such Company as would reasonably be obtained by such Company at
      that time in a comparable arm’s-length transaction with a person other than an
      Affiliate, except that the following shall be permitted:

     

     

    (a)  Dividends
      permitted by Section 6.08;

     

     

    (b)  Investments
      permitted by Sections 6.04(e) and (f);

     

     

    (c)  reasonable
      and customary director, officer and employee compensation (including bonuses)
      and other benefits (including retirement, health, stock option and other benefit
      plans) and indemnification arrangements, in each case approved by the Board
      of
      Directors of Borrower;

     

     

    (d)  transactions
      with customers, clients, suppliers, joint venture partners or purchasers or
      sellers of goods and services, in each case in the ordinary course of business
      and otherwise not prohibited by the Loan Documents;

     

     

    (e)  sales
      of
      Qualified Capital Stock of Borrower to Affiliates of Borrower (other than any
      Subsidiary) not otherwise prohibited by the Loan Documents and the granting
      of
      registration and other customary rights in connection therewith;

     

     

    (f)  any
      transaction with an Affiliate where the only consideration paid by any Loan
      Party is Qualified Capital Stock of Borrower; and

     

     

    (g)  the
      Transactions as contemplated by the Transaction Documents.

     

    Section
      6.10  Financial
      Covenants

     

    (a)  Maximum
      Total Leverage Ratio.  Permit the Total Leverage Ratio, as at the
      end of any Test Period ending during any period set forth in the table below,
      to
      exceed the ratio set forth opposite such period in the table below:

     

    
      	
              Test
                Period

            	
              Leverage
                Ratio

               

            
	
              Closing
                Date through September 30, 2007

            	
              6.50
                to 1.0

            
	
              October
                1, 2007 through June 30, 2008

            	
              6.25
                to 1.0

            
	
              July
                1, 2008 through September 30, 2008

            	
              6.00
                to 1.0

            
	
              October
                1, 2008 through December 31, 2008

            	
              5.50
                to 1.0

            
	
              January
                1, 2009 through December 31, 2009

            	
              4.00
                to 1.0

            
	
              January
                1, 2010 through December 31, 2010

            	
              3.25
                to 1.0

            
	
              January
                1, 2011 through December 31, 2011

            	
              2.25
                to 1.0

            
	
              January
                1, 2012 and thereafter

            	
              2.00
                to 1.0

            

    

     

    (b)  Minimum
      Interest Coverage Ratio.  Permit the Consolidated Interest
      Coverage Ratio, for any Test Period ending during any period set forth in the
      table below, to be less than the ratio set forth opposite such period in the
      table below:

     

    
      	
              Test
                Period

            	
              Interest

              Coverage
                Ratio

               

            
	
              Closing
                Date through June 30, 2007

            	
              2.000
                to 1.0

            
	
              July
                1, 2007 through December 31, 2007

            	
              2.125
                to 1.0

            
	
              January
                1, 2008 through June 30, 2008

            	
              2.250
                to 1.0

            
	
              July
                1, 2008 through December 31, 2008

            	
              2.500
                to 1.0

            
	
              January
                1, 2009 through December 31, 2009

            	
              3.500
                to 1.0

            
	
              January
                1, 2010 through December 31, 2010

            	
              4.500
                to 1.0

            
	
              January
                1, 2011 and thereafter

            	
              5.000
                to 1.0

            

    

     

    (c)  Limitation
      on Capital Expenditures.  Permit the aggregate amount of Capital
      Expenditures made in any period set forth below, to exceed the amount set forth
      opposite such period below:

     

    
      	
              Period

            	
              Amount
                in Millions

               

            
	
              Closing
                Date through December 31, 2007

            	
              45.0

            
	
              January
                1, 2008 through December 31, 2008

            	
              65.0

            
	
              January
                1, 2009 through December 31, 2009

            	
              60.0

            
	
              January
                1, 2010 through December 31, 2010

            	
              60.0

            
	
              January
                1, 2011 through December 31, 2011

            	
              60.0

            
	
              January
                1, 2012 through December 31, 2012

            	
              60.0

            
	
              January
                1, 2013 through December 31, 2013

            	
              60.0

            
	
              January
                1, 2014 through December 31, 2014

            	
              60.0

            

    

     

    ;
      provided, however, that (x) if the aggregate amount of Capital
      Expenditures made in any period set forth above shall be less than the maximum
      amount of Capital Expenditures permitted under this Section 6.10(c) for
      such period (before giving effect to any carryover), then an amount of such
      shortfall not exceeding 50% of such maximum amount may be added to the amount
      of
      Capital Expenditures permitted under this Section 6.10(c) for the
      immediately succeeding (but not any other) period and (y) in determining whether
      any amount is available for carryover, the amount expended in any period shall
      first be deemed to be from the amount allocated to such period (before giving
      effect to any carryover).

     

    Section
      6.11  Prepayments
      of Other Indebtedness; Modifications of Organizational Documents and
      Other Documents, etc

     

    .  Directly
      or indirectly:

     

     

    (a)  make
      (or
      give any notice in respect thereof) any voluntary or optional payment of
      principal on or prepayment on or redemption or acquisition for value of, or
      any
      prepayment or redemption as a result of any (i) asset sale, (ii) change of
      control, (iii) exercise of conversion rights or put rights by the holders of,
      or
      (iv) similar event of, or otherwise voluntarily or optionally defease or
      segregate funds with respect to, any Indebtedness under the Existing Senior
      Subordinated Notes Documents (or any refinancings of any thereof permitted
      under
Section 6.01(b)(ii)), except: (w) with the proceeds of refinancing
      Indebtedness permitted under Section 6.01(b)(ii) (provided that
      after giving effect to such transaction on a Pro Forma Basis, Borrower shall
      be
      in compliance with all covenants set forth in Section 6.10 as of the most
      recent Test Period (assuming, for purposes of Section 6.10, that such
      transaction, and all other refinancing transactions consummated since the first
      day of the relevant Test Period for each of the financial covenants set forth
      in
Section 6.10 ending on or prior to the date of such transaction, had
      occurred on the first day of such relevant Test Period); (x) with amounts not
      exceeding, in the aggregate for all such amounts from and after the Closing
      Date, $10.0 million; (y) with amounts not exceeding, in the aggregate for all
      such amounts from and after the Closing Date, the difference between (1) the
      Cumulative Equity Amount minus (2) the portion of the Cumulative Equity
      Amount applied to make Permitted Acquisitions pursuant to clause (ix)(B)(2)
      of
      the definition of “Permitted Acquisition”; and (z) in an amount not exceeding
      the Cumulative Excess Cash Flow Amount then in effect immediately prior to
      such
      payment or prepayment on or redemption or acquisition for value of any such
      Indebtedness;

     

     

    (b)  amend
      or
      modify, or permit the amendment or modification of, any provision of any
      Transaction Document or any document governing any Material Indebtedness in
      any
      manner that is adverse in any material respect to the interests of the
      Lenders;

     

     

    (c)  terminate,
      amend or modify any of its Organizational Documents (including (x) by the filing
      or modification of any certificate of designation and (y) any election to treat
      any Pledged Securities (as defined in the Security Agreement) as a “security”
under Section 8-103 of the UCC other than concurrently with the delivery of
      certificates representing such Pledged Securities to the Collateral Agent)
      or
      any agreement to which it is a party with respect to its Equity Interests
      (including any stockholders’ agreement), or enter into any new agreement with
      respect to its Equity Interests, other than any such amendments or modifications
      or such new agreements which are not adverse in any material respect to the
      interests of the Lenders; provided that Borrower may issue such Equity
      Interests, so long as such issuance is not prohibited by Section 6.13 or
      any other provision of this Agreement, and may amend or modify its
      Organizational Documents to authorize any such Equity Interests;

     

     

    (d)  cause
      or
      permit any other obligation (other than the Secured Obligations and the
      Guaranteed Obligations) to be designated as or otherwise constitute “Designated
      Senior Debt” (or any other defined term having a similar purpose) under any of
      the Existing Senior Subordinated Notes Documents (or any refinancings of any
      thereof permitted under Section 6.01(b)(ii)) or any other Subordinated
      Indebtedness; or

     

     

    (e)  make
      (or
      give any notice in respect of) any voluntary or optional payment or prepayment
      on or redemption or acquisition for value of, or any prepayment or redemption
      as
      a result of any (i) asset sale, (ii) change of control, (iii) exercise of
      conversion rights or put rights by the holders of, or (iv) similar event of,
      or
      otherwise voluntarily or optionally defease or segregate funds with respect
      to,
      any Outsourcing Project Indebtedness, except if no Default or Event of Default
      shall have occurred and is continuing or would result therefrom.

     

    Section
      6.12  Limitation
      on Certain Restrictions on Subsidiaries

     

    .  Directly
      or indirectly, create or otherwise cause or suffer to exist or become effective
      any encumbrance or restriction on the ability of any Subsidiary to (a) pay
      dividends or make any other distributions on its capital stock or any other
      interest or participation in its profits owned by Borrower or any Subsidiary,
      or
      pay any Indebtedness owed to Borrower or a Subsidiary, (b) make loans or
      advances to Borrower or any Subsidiary or (c) transfer any of its properties
      to
      Borrower or any Subsidiary, except for such encumbrances or restrictions
      existing under or by reason of (i) applicable Requirements of Law; (ii) this
      Agreement and the other Loan Documents; (iii) the Senior Subordinated Note
      Documents; (iv) customary provisions restricting subletting or assignment of
      any
      lease governing a leasehold interest of a Subsidiary; (v) customary provisions
      restricting assignment of any agreement entered into by a Subsidiary in the
      ordinary course of business; (vi) any holder of a Lien permitted by Section
      6.02 restricting the transfer of the property subject thereto; (vii)
      customary restrictions and conditions contained in any agreement relating to
      the
      sale of any property permitted under Section 6.06 pending the
      consummation of such sale; (viii) any agreement in effect at the time such
      Subsidiary becomes a Subsidiary of Borrower, so long as such agreement was
      not
      entered into in connection with or in contemplation of such person becoming
      a
      Subsidiary of Borrower; (ix) without affecting the Loan Parties’ obligations
      under Section 5.10, customary provisions in partnership agreements,
      limited liability company organizational governance documents, asset sale and
      stock sale agreements and other similar agreements entered into in the ordinary
      course of business that restrict the transfer of ownership interests in such
      partnership, limited liability company or similar person; (x) restrictions
      on
      cash or other deposits or net worth imposed by suppliers or landlords under
      contracts entered into in the ordinary course of business; (xi) any instrument
      governing Indebtedness assumed in connection with any Permitted Acquisition,
      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 so acquired; (xii) in the case of any joint venture which
      is not a Loan Party in respect of any matters referred to in clauses (b) and
      (c)
      above, restrictions in such person’s Organizational Documents or pursuant to any
      joint venture agreement or stockholders agreements solely to the extent of
      the
      Equity Interests of or property held in the subject joint venture or other
      entity; (xiii) any encumbrances or restrictions imposed by any amendments or
      refinancings that are otherwise permitted by the Loan Documents of the
      contracts, instruments or obligations referred to in clauses (iii) or (viii)
      above (provided that such amendments or refinancings are no more
      materially restrictive with respect to such encumbrances and restrictions than
      those prior to such amendment or refinancing); or (ix) any restrictions with
      respect to an Outsourcing Project Subsidiary pursuant to the applicable
      Outsourcing Project Debt Documentation in respect of any Outsourcing Project
      Indebtedness permitted under Section 6.01(m).

     

    Section
      6.13  Limitation
      on Issuance of Capital Stock

     

    (a)  With
      respect to Borrower, issue any Equity Interest that is not Qualified Capital
      Stock.

     

     

    (b)  With
      respect to any Subsidiary, issue any Equity Interest (including by way of sales
      of treasury stock) or any options or warrants to purchase, or securities
      convertible into, any Equity Interest, except (i) for stock splits, stock
      dividends and additional issuances of Equity Interests which do not decrease
      the
      percentage ownership of Borrower or any Subsidiaries in any class of the Equity
      Interest of such Subsidiary; and (ii) Subsidiaries of Borrower formed after
      the
      Closing Date in accordance with Section 6.14 may issue Equity Interests
      to Borrower or the Subsidiary of Borrower which is to own such Equity
      Interests.  All Equity Interests issued in accordance with this
Section 6.13(b) shall, to the extent required by Sections
      5.10 and 5.11 or any Security Agreement or if such
      Equity Interests are issued by Borrower, be delivered to the Collateral Agent
      for pledge pursuant to the applicable Security Agreement.

     

    Section
      6.14  Limitation
      on Creation of Subsidiaries

     

    .  Establish,
      create or acquire any additional Subsidiaries without the prior written consent
      of the Required Lenders; provided that, without such consent, Borrower
      may (i) establish or create one or more Wholly Owned Subsidiaries of Borrower,
      (ii) establish, create or acquire one or more Subsidiaries in connection with
      an
      Investment made pursuant to Section 6.04(f) or (iii) acquire one or more
      Subsidiaries in connection with a Permitted Acquisition, so long as, in each
      case, Section 5.10(b) shall be complied with.

     

    Section
      6.15  Business

     

    .  Engage
      (directly or indirectly) in any business other than those businesses in which
      Borrower and its Subsidiaries are engaged on the Closing Date as described
      in
      the Confidential Information Memorandum (or, in the good faith judgment of
      the
      Board of Directors, which are substantially related thereto or are reasonable
      extensions thereof).

     

    Section
      6.16  Limitation
      on Accounting Changes

     

    .  Make
      or permit any change in accounting policies or reporting practices, without
      the
      consent of the Required Lenders, which consent shall not be unreasonably
      withheld, except changes that are required by GAAP.

     

    Section
      6.17  Fiscal
      Year

     

    .  Change
      its fiscal year-end to a date other than December 31.

     

    Section
      6.18  No
      Further Negative Pledge

     

    .  Enter
      into any agreement, instrument, deed or lease which prohibits or limits the
      ability of any Loan Party to create, incur, assume or suffer to exist any Lien
      upon any of their respective properties or revenues, whether now owned or
      hereafter acquired, or which requires the grant of any security for an
      obligation if security is granted for another obligation, except the
      following:  (1) this Agreement and the other Loan Documents; (2)
      covenants in documents creating Liens permitted by Section 6.02
      prohibiting further Liens on the properties encumbered thereby and the proceeds
      thereof; (3) the Senior Subordinated Note Documents as in effect on the Closing
      Date; (4) any other agreement that does not restrict in any manner (directly
      or
      indirectly) Liens created pursuant to the Loan Documents on any Collateral
      securing the Secured Obligations and does not require the direct or indirect
      granting of any Lien securing any Indebtedness or other obligation by virtue
      of
      the granting of Liens on or pledge of property of any Loan Party to secure
      the
      Secured Obligations; (5) any prohibition or limitation that (a) exists pursuant
      to applicable Requirements of Law, (b) consists of customary restrictions and
      conditions contained in any agreement relating to the sale of any property
      permitted under Section 6.06 pending the consummation of such sale, (c)
      restricts subletting or assignment of any lease governing a leasehold interest
      of Borrower or a Subsidiary, (d) exists in any agreement in effect at the time
      such Subsidiary becomes a Subsidiary of Borrower, so long as such agreement
      was
      not entered into in contemplation of such person becoming a Subsidiary or (e)
      is
      imposed by any amendments or refinancings that are otherwise permitted by the
      Loan Documents of the contracts, instruments or obligations referred to in
      clause (3) or (5)(d); provided that such amendments and refinancings
      are no more materially restrictive with respect to such prohibitions and
      limitations than those prior to such amendment or refinancing; and (6) any
      Outsourcing Project Debt Documentation in respect of any Outsourcing Project
      Indebtedness permitted under Section 6.01(m) (in which case any
      prohibition or limitation shall only be effective against the assets of the
      Outsourcing Project Subsidiaries obligated under such Outsourcing Project
      Indebtedness and in any event shall not require the grant of any security for
      an
      obligation if security is granted for another obligation).

     

    Section
      6.19  Anti-Terrorism
      Law; Anti-Money Laundering

     

    (a)  Directly
      or indirectly, (i) knowingly conduct any business or engage in making or
      receiving any contribution of funds, goods or services to or for the benefit
      of
      any person described in Section 3.22, (ii) knowingly deal in, or
      otherwise engage in any transaction relating to, any property or interests
      in
      property blocked pursuant to the Executive Order or any other Anti-Terrorism
      Law, or (iii) knowingly engage in or conspire to engage in any transaction
      that
      evades or avoids, or has the purpose of evading or avoiding, or attempts to
      violate, any of the prohibitions set forth in any Anti-Terrorism Law (and the
      Loan Parties shall deliver to the Lenders any certification or other evidence
      requested from time to time by any Lender in its reasonable discretion,
      confirming the Companies’ compliance with this Section
      6.20).

     

     

    (b)  Cause
      or
      permit any of the funds of such of the Companies that are used to repay the
      Loans to be derived from any unlawful activity with the result that the making
      of the Loans would be in violation of any Requirement of Law.

     

    Section
      6.20  Embargoed
      Person

     

    .  Cause
      or permit (a) any of the funds or properties of the Companies that are used
      to
      repay the Loans to constitute property of, or be beneficially owned directly
      or
      indirectly by, any person subject to sanctions or trade restrictions under
      United States law (“Embargoed Person” or “Embargoed
      Persons”) that is identified on (1) the “List of Specially Designated
      Nationals and Blocked Persons” maintained by OFAC and/or on any other similar
      list maintained by OFAC pursuant to any authorizing statute including, but
      not
      limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701
et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and
      any Executive Order or Requirement of Law promulgated thereunder, with the
      result that the investment in the Loan Parties (whether directly or indirectly)
      is prohibited by a Requirement of Law, or the Loans made by the Lenders would
      be
      in violation of a Requirement of Law, or (2) the Executive Order, any related
      enabling legislation or any other similar Executive Orders, (b) any Embargoed
      Person to have any direct or indirect interest, of any nature whatsoever in
      any
      of the Companies, with the result that the investment in the Companies (whether
      directly or indirectly) is prohibited by a Requirement of Law or the Loans
      are
      in violation of a Requirement of Law or (c) directly or indirectly, the proceeds
      of the Loans to be transferred to or for the benefit of Embargoed Persons in
      violation of any Requirement of Law, including, without limitation, U.S.
      sanctions laws.

     

     

    ARTICLE
      VII                                

     

    GUARANTEE

     

    Section
      7.01  The
      Guarantee

     

    .  The
      Subsidiary Guarantors hereby jointly and severally guarantee, as a primary
      obligor and not as a surety to each Secured Party and their respective
      successors and assigns, the prompt payment in full when due (whether at stated
      maturity, by required prepayment, declaration, demand, by acceleration or
      otherwise) of the principal of and interest (including any interest, fees,
      costs
      or charges that would accrue but for the provisions of the Title 11 of the
      United States Code after any bankruptcy or insolvency petition under Title
      11 of
      the United States Code) on the Loans made by the Lenders to, and the Notes
      held
      by each Lender of, Borrower, and all other Secured Obligations from time to
      time
      owing to the Secured Parties by any Loan Party under any Loan Document or any
      Hedging Agreement or Treasury Services Agreement entered into with a
      counterparty that is a Secured Party, in each case strictly in accordance with
      the terms thereof (such obligations being herein collectively called the
“Guaranteed Obligations”).  The Subsidiary Guarantors
      hereby jointly and severally agree that if Borrower or other Subsidiary
      Guarantor(s) shall fail to pay in full when due (whether at stated maturity,
      by
      acceleration or otherwise) any of the Guaranteed Obligations, the Subsidiary
      Guarantors will promptly pay the same in cash, without any demand or notice
      whatsoever, and that in the case of any extension of time of payment or renewal
      of any of the Guaranteed Obligations, the same will be promptly paid in full
      when due (whether at extended maturity, by acceleration or otherwise) in
      accordance with the terms of such extension or renewal.

     

    Section
      7.02  Obligations
      Unconditional

     

    .  The
      obligations of the Subsidiary Guarantors under Section 7.01 shall
      constitute a guaranty of payment and to the fullest extent permitted by
      applicable Requirements of Law, are absolute, irrevocable and unconditional,
      joint and several, irrespective of the value, genuineness, validity, regularity
      or enforceability of the Guaranteed Obligations of Borrower under this
      Agreement, the Notes, if any, or any other agreement or instrument referred
      to
      herein or therein, or any substitution, release or exchange of any other
      guarantee of or security for any of the Guaranteed Obligations, and,
      irrespective of any other circumstance whatsoever that might otherwise
      constitute a legal or equitable discharge or defense of a surety or Subsidiary
      Guarantor (except for payment in full).  Without limiting the
      generality of the foregoing, it is agreed that the occurrence of any one or
      more
      of the following shall not alter or impair the liability of the Subsidiary
      Guarantors hereunder which shall remain absolute, irrevocable and unconditional
      under any and all circumstances as described above:

     

     

    (i)  at
      any
      time or from time to time, without notice to the Subsidiary Guarantors, the
      time
      for any performance of or compliance with any of the Guaranteed Obligations
      shall be extended, or such performance or compliance shall be
      waived;

     

     

    (ii)  any
      of
      the acts mentioned in any of the provisions of this Agreement or the Notes,
      if
      any, or any other agreement or instrument referred to herein or therein shall
      be
      done or omitted;

     

     

    (iii)  the
      maturity of any of the Guaranteed Obligations shall be accelerated, or any
      of
      the Guaranteed Obligations shall be amended in any respect, or any right under
      the Loan Documents or any other agreement or instrument referred to herein
      or
      therein shall be amended or waived in any respect or any other guarantee of
      any
      of the Guaranteed Obligations or any security therefor shall be released or
      exchanged in whole or in part or otherwise dealt with;

     

     

    (iv)  any
      Lien
      or security interest granted to, or in favor of, Issuing Bank or any Lender
      or
      Agent as security for any of the Guaranteed Obligations shall fail to be
      perfected; or

     

     

    (v)  the
      release of any other Subsidiary Guarantor pursuant to Section 7.09 or in
      connection with the incurrence of any Outsourcing Project Indebtedness permitted
      under Section 6.01(m).

     

     

    The
      Subsidiary Guarantors hereby expressly waive diligence, presentment, demand
      of
      payment, protest and all notices whatsoever, and any requirement that any
      Secured Party exhaust any right, power or remedy or proceed against Borrower
      under this Agreement or the Notes, if any, or any other agreement or instrument
      referred to herein or therein, or against any other person under any other
      guarantee of, or security for, any of the Guaranteed Obligations.  The
      Subsidiary Guarantors waive any and all notice of the creation, renewal,
      extension, waiver, termination or accrual of any of the Guaranteed Obligations
      and notice of or proof of reliance by any Secured Party upon this Guarantee
      or
      acceptance of this Guarantee, and the Guaranteed Obligations, and any of them,
      shall conclusively be deemed to have been created, contracted or incurred in
      reliance upon this Guarantee, and all dealings between Borrower and the Secured
      Parties shall likewise be conclusively presumed to have been had or consummated
      in reliance upon this Guarantee.  This Guarantee shall be construed as
      a continuing, absolute, irrevocable and unconditional guarantee of payment
      without regard to any right of offset with respect to the Guaranteed Obligations
      at any time or from time to time held by Secured Parties, and the obligations
      and liabilities of the Subsidiary Guarantors hereunder shall not be conditioned
      or contingent upon the pursuit by the Secured Parties or any other person at
      any
      time of any right or remedy against Borrower or against any other person which
      may be or become liable in respect of all or any part of the Guaranteed
      Obligations or against any collateral security or guarantee therefor or right
      of
      offset with respect thereto.  This Guarantee shall remain in full
      force and effect and be binding in accordance with and to the extent of its
      terms upon the Subsidiary Guarantors and the successors and assigns thereof,
      and
      shall inure to the benefit of the Lenders, and their respective successors
      and
      assigns, notwithstanding that from time to time during the term of this
      Agreement there may be no Guaranteed Obligations outstanding.

     

    Section
      7.03  Reinstatement

     

    .  The
      obligations of the Subsidiary Guarantors under this Article VII shall be
      automatically reinstated if and to the extent that for any reason any payment
      by
      or on behalf of Borrower or other Loan Party in respect of the Guaranteed
      Obligations is rescinded or must be otherwise restored by any holder of any
      of
      the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy
      or reorganization or otherwise.

     

    Section
      7.04  Subrogation;
      Subordination

     

    .  Each
      Subsidiary Guarantor hereby agrees that until the indefeasible payment and
      satisfaction in full in cash of all Guaranteed Obligations and the expiration
      and termination of the Commitments of the Lenders under this Agreement it shall
      waive any claim and shall not exercise any right or remedy, direct or indirect,
      arising by reason of any performance by it of its guarantee in Section
      7.01, whether by subrogation or otherwise, against Borrower or any other
      Subsidiary Guarantor of any of the Guaranteed Obligations or any security for
      any of the Guaranteed Obligations.  Any Indebtedness of any Loan Party
      permitted pursuant to Section 6.01(d) shall be subordinated to such Loan
      Party’s Secured Obligations in the manner set forth in the Intercompany
      Note.

     

    Section
      7.05  Remedies

     

    .  The
      Subsidiary Guarantors jointly and severally agree that, as between the
      Subsidiary Guarantors and the Lenders, the obligations of Borrower under this
      Agreement and the Notes, if any, may be declared to be forthwith due and payable
      as provided in Section 8.01 (and shall be deemed to have become
      automatically due and payable in the circumstances provided in Section
      8.01) for purposes of Section 7.01, notwithstanding any stay,
      injunction or other prohibition preventing such declaration (or such obligations
      from becoming automatically due and payable) as against Borrower and that,
      in
      the event of such declaration (or such obligations being deemed to have become
      automatically due and payable), such obligations (whether or not due and payable
      by Borrower) shall forthwith become due and payable by the Subsidiary Guarantors
      for purposes of Section 7.01.

     

    Section
      7.06  Instrument
      for the Payment of Money

     

    .  Each
      Subsidiary Guarantor hereby acknowledges that the guarantee in this Article
      VII constitutes an instrument for the payment of money, and consents and
      agrees that any Lender or Agent, at its sole option, in the event of a dispute
      by such Subsidiary Guarantor in the payment of any moneys due hereunder, shall
      have the right to bring a motion-action under New York CPLR Section
      3213.

     

    Section
      7.07  Continuing
      Guarantee

     

    .  The
      guarantee in this Article VII is a continuing guarantee of payment, and
      shall apply to all Guaranteed Obligations whenever arising.

     

    Section
      7.08  General
      Limitation on Guarantee Obligations

     

    .  In
      any action or proceeding involving any state corporate limited partnership
      or
      limited liability company law, or any applicable state, federal or foreign
      bankruptcy, insolvency, reorganization or other law affecting the rights of
      creditors generally, if the obligations of any Subsidiary Guarantor under
Section 7.01 would otherwise be held or determined to be void, voidable,
      invalid or unenforceable, or subordinated to the claims of any other creditors,
      on account of the amount of its liability under Section 7.01, then,
      notwithstanding any other provision to the contrary, the amount of such
      liability shall, without any further action by such Subsidiary Guarantor, any
      Loan Party or any other person, be automatically limited and reduced to the
      highest amount (after giving effect to the right of contribution established
      in
Section 7.10) that is valid and enforceable and not subordinated to the
      claims of other creditors as determined in such action or
      proceeding.

     

    Section
      7.09  Release
      of Subsidiary Guarantors

     

    .  If,
      in compliance with the terms and provisions of the Loan Documents, all or
      substantially all of the Equity Interests or property of any Subsidiary
      Guarantor are sold or otherwise transferred (a “Transferred
      Guarantor”) to a person or persons, none of which is Borrower or a
      Subsidiary, such Transferred Guarantor shall, upon the consummation of such
      sale
      or transfer, be automatically released from its obligations under this Agreement
      (including under Section 10.03 hereof) and its obligations to pledge and
      grant any Collateral owned by it pursuant to any Security Document and, in
      the
      case of a sale of all or substantially all of the Equity Interests of the
      Transferred Guarantor, the pledge of such Equity Interests to the Collateral
      Agent pursuant to the Security Agreements shall be automatically released,
      and,
      so long as Borrower shall have provided the Agents such certifications or
      documents as any Agent shall reasonably request, the Collateral Agent shall
      take
      such actions as are necessary to effect each release described in this
Section 7.09 in accordance with the relevant provisions of the Security
      Documents, so long as Borrower shall have provided the Agents such
      certifications or documents as any Agent shall reasonably request in order
      to
      demonstrate compliance with this Agreement.

     

    Section
      7.10  Right
      of Contribution

     

    .  Each
      Subsidiary Guarantor hereby agrees that to the extent that a Subsidiary
      Guarantor shall have paid more than its proportionate share of any payment
      made
      hereunder, such Subsidiary Guarantor shall be entitled to seek and receive
      contribution from and against any other Subsidiary Guarantor hereunder which
      has
      not paid its proportionate share of such payment.  Each Subsidiary
      Guarantor’s right of contribution shall be subject to the terms and conditions
      of Section 7.04.  The provisions of this Section 7.10
      shall in no respect limit the obligations and liabilities of any Subsidiary
      Guarantor to the Administrative Agent, the Issuing Bank, the Swingline Lender
      and the Lenders, and each Subsidiary Guarantor shall remain liable to the
      Administrative Agent, the Issuing Bank, the Swingline Lender and the Lenders
      for
      the full amount guaranteed by such Subsidiary Guarantor hereunder.

     

     

    ARTICLE
      VIII                                

     

    EVENTS
      OF DEFAULT

     

    Section
      8.01  Events
      of Default

     

    .  Upon
      the occurrence and during the continuance of the following events
      (“Events of Default”):

     

     

    (a)  default
      shall be made in the payment of any principal of any Loan or any Reimbursement
      Obligation when and as the same shall become due and payable, whether at the
      due
      date thereof (including a Term Loan Repayment Date) or at a date fixed for
      prepayment (whether voluntary or mandatory) thereof or by acceleration thereof
      or otherwise;

     

     

    (b)  default
      shall be made in the payment of any interest on any Loan or any Fee or any
      other
      amount (other than an amount referred to in paragraph (a) above) due under
      any
      Loan Document, when and as the same shall become due and payable, and such
      default shall continue unremedied for a period of three Business
      Days;

     

     

    (c)  any
      representation or warranty made or deemed made in or in connection with any
      Loan
      Document or the borrowings or issuances of Letters of Credit hereunder, or
      any
      representation, warranty, statement or information contained in any report,
      certificate, financial statement or other instrument furnished in connection
      with or pursuant to any Loan Document, shall prove to have been false or
      misleading in any material respect when so made, deemed made or
      furnished;

     

     

    (d)  default
      shall be made in the due observance or performance by any Company of any
      covenant, condition or agreement contained in Section 5.02,
5.03(a) or 5.08 or in Article VI;

     

     

    (e)  default
      shall be made in the due observance or performance by any Company of any
      covenant, condition or agreement contained in any Loan Document (other than
      those specified in paragraphs (a), (b) or (d) immediately above) and such
      default shall continue unremedied or shall not be waived for a period of 30
      days
      after the earlier to occur of (x) knowledge of such default by a Responsible
      Officer of Borrower and (y) written notice of such default from the
      Administrative Agent or any Lender to Borrower;

     

     

    (f)  any
      Company shall (i) fail to pay any principal or interest, regardless of amount,
      due in respect of any Indebtedness (other than the Obligations), when and as
      the
      same shall become due and payable beyond any applicable grace period, or (ii)
      fail to observe or perform any other term, covenant, condition or agreement
      contained in any agreement or instrument evidencing or governing any such
      Indebtedness if the effect of any failure referred to in this clause (ii) is
      to
      cause, or to permit the holder or holders of such Indebtedness or a trustee
      or
      other representative on its or their behalf (with or without the giving of
      notice, the lapse of time or both) to cause, such Indebtedness to become due
      prior to its stated maturity or become subject to a mandatory offer purchase
      by
      the obligor; provided that it shall not constitute an Event of Default
      pursuant to this paragraph (f) unless (A) the aggregate amount of all such
      Indebtedness referred to in clauses (i) and (ii) exceeds $25.0 million, at
      any
      one time (provided that, in the case of Hedging Obligations, the amount
      counted for this purpose shall be the amount payable by all Companies if such
      Hedging Obligations were terminated at such time) or (B) one or more defaults,
      events or conditions of the type described in clauses (i) and (ii) shall have
      occurred and be continuing with respect to Outsourcing Project Indebtedness
      of
      any Outsourcing Project Subsidiary and Borrower would not have been in
      compliance with the covenants set forth in Section 6.10 as of the last
      day of the most recent Test Period if Consolidated EBITDA for the four fiscal
      quarter period ended on such day were calculated to exclude (to the extent
      otherwise included in Consolidated Net Income) the income of such Outsourcing
      Project Subsidiary from Consolidated Net Income;

     

     

    (g)  an
      involuntary proceeding shall be commenced or an involuntary petition shall
      be
      filed in a court of competent jurisdiction seeking (i) relief in respect of
      any
      Company, or of a substantial part of the property of any Company, under Title
      11
      of the U.S. Code, as now constituted or hereafter amended, or any other federal,
      state or foreign bankruptcy, insolvency, receivership or similar law; (ii)
      the
      appointment of a receiver, trustee, custodian, sequestrator, conservator or
      similar official for any Company or for a substantial part of the property
      of
      any Company; or (iii) the winding-up or liquidation of any Company; and such
      proceeding or petition shall continue undismissed for 60 days or an order or
      decree approving or ordering any of the foregoing shall be entered;

     

     

    (h)  any
      Company shall (i) voluntarily commence any proceeding or file any petition
      seeking relief under Title 11 of the United States Code, as now constituted
      or
      hereafter amended, or any other federal, state or foreign bankruptcy,
      insolvency, receivership or similar law; (ii) consent to the institution of,
      or
      fail to contest in a timely and appropriate manner, any proceeding or the filing
      of any petition described in clause (g) above; (iii) apply for or consent to
      the
      appointment of a receiver, trustee, custodian, sequestrator, conservator or
      similar official for any Company or for a substantial part of the property
      of
      any Company; (iv) file an answer admitting the material allegations of a
      petition filed against it in any such proceeding; (v) make a general assignment
      for the benefit of creditors; (vi) become unable, admit in writing its inability
      or fail generally to pay its debts as they become due; (vii) take any action
      for
      the purpose of effecting any of the foregoing; or (viii) except as permitted
      by
Section 6.05, wind up or liquidate;

     

     

    (i)  one
      or
      more judgments, orders or decrees for the payment of money in an aggregate
      amount in excess of $25.0 million shall be rendered against any Company or
      any
      combination thereof and the same shall remain undischarged, unvacated or
      unbonded for a period of 30 consecutive days during which execution shall not
      be
      effectively stayed, or any action shall be legally taken by a judgment creditor
      to levy upon properties of any Company to enforce any such
      judgment;

     

     

    (j)  one
      or
      more ERISA Events or noncompliance with respect to Foreign Plans shall have
      occurred that, in the opinion of the Required Lenders, when taken together
      with
      all other such ERISA Events and noncompliance with respect to Foreign Plans
      that
      have occurred, could reasonably be expected to result in liability of any
      Company and its ERISA Affiliates in an aggregate amount exceeding $10.0 million
      or in the imposition of Liens on any properties of a Company securing actual
      or
      asserted liability in an aggregate amount exceeding $10.0 million;

     

     

    (k)  any
      security interest and Lien purported to be created by any Security Document
      shall cease to be in full force and effect, or shall cease to give the
      Collateral Agent, for the benefit of the Secured Parties, the Liens, rights,
      powers and privileges purported to be created and granted under such Security
      Document (including a perfected first priority security interest in and Lien
      on
      all of the Collateral thereunder (except as otherwise expressly provided in
      such
      Security Document)) in favor of the Collateral Agent, or shall be asserted
      by
      Borrower or any other Loan Party not to be a valid, perfected, first priority
      (except as otherwise expressly provided in this Agreement or such Security
      Document) security interest in or Lien on the Collateral covered
      thereby;

     

     

    (l)  any
      Loan
      Document or any material provisions thereof shall at any time and for any reason
      be declared by a court of competent jurisdiction to be null and void, or a
      proceeding shall be commenced by any Company or by any Governmental Authority,
      seeking to establish the invalidity or unenforceability thereof (exclusive
      of
      questions of interpretation of any provision thereof), or any Loan Party shall
      repudiate or deny any portion of its liability or obligation for the
      Obligations;

     

     

    (m)  there
      shall have occurred a Change in Control;

     

     

    (n)  there
      shall have occurred the termination of, or the receipt by any Loan Party of
      notice of the termination of, or the occurrence of any event or condition which
      would, with the passage of time or the giving of notice or both, constitute
      an
      event of default under or permit the termination of, any one or more material
      agreements or licenses of any Company, and such termination, event or condition,
      or event of default could reasonably be expected to have a Material Adverse
      Effect;

     

     

    (o)  any
      Company shall be prohibited or otherwise restrained from conducting the business
      theretofore conducted by it in any manner that has or could reasonably be
      expected to result in a Material Adverse Effect by virtue of any determination,
      ruling, decision, decree or order of any court or Governmental Authority of
      competent jurisdiction; or

     

     

    (p)  Borrower
      shall have become unconditionally obligated to make payment under one or more
      Outsourcing Project Guarantees in an amount in excess of the amount which
      Borrower would then be permitted to invest in such Outsourcing Project
      Subsidiary under Section 6.04(f)(iii);

     

     

    then,
      and
      in every such event (other than an event with respect to Borrower described
      in
      paragraph (g) or (h) above), and at any time thereafter during the continuance
      of such event, the Administrative Agent may, and at the request of the Required
      Lenders shall, by notice to Borrower, take either or both of the following
      actions, at the same or different times:  (i) terminate forthwith the
      Commitments and (ii) declare the Loans and Reimbursement Obligations then
      outstanding to be forthwith due and payable in whole or in part, whereupon
      the
      principal of the Loans and Reimbursement Obligations so declared to be due
      and
      payable, together with accrued interest thereon and any unpaid accrued Fees
      and
      all other Obligations of Borrower accrued hereunder and under any other Loan
      Document, shall become forthwith due and payable, without presentment, demand,
      protest or any other notice of any kind, all of which are hereby expressly
      waived by Borrower and the Subsidiary Guarantors, anything contained herein
      or
      in any other Loan Document to the contrary notwithstanding; and in any event,
      with respect to Borrower described in paragraph (g) or (h) above, the
      Commitments shall automatically terminate and the principal of the Loans and
      Reimbursement Obligations then outstanding, together with accrued interest
      thereon and any unpaid accrued Fees and all other Obligations of Borrower
      accrued hereunder and under any other Loan Document, shall automatically become
      due and payable, without presentment, demand, protest or any other notice of
      any
      kind, all of which are hereby expressly waived by Borrower and the Subsidiary
      Guarantors, anything contained herein or in any other Loan Document to the
      contrary notwithstanding.

     

    Section
      8.02  Application
      of Proceeds

     

    .  The
      proceeds received by the Collateral Agent in respect of any sale of, collection
      from or other realization upon all or any part of the Collateral pursuant to
      the
      exercise by the Collateral Agent of its remedies shall be applied, in full
      or in
      part, together with any other sums then held by the Collateral Agent pursuant
      to
      this Agreement, promptly by the Collateral Agent as follows:

     

     

    (a)  First,
      to the payment of all reasonable costs and expenses, fees, commissions and
      taxes
      of such sale, collection or other realization including compensation to the
      Collateral Agent and its agents and counsel, and all expenses, liabilities
      and
      advances made or incurred by the Collateral Agent in connection therewith and
      all amounts for which the Collateral Agent is entitled to indemnification
      pursuant to the provisions of any Loan Document, together with interest on
      each
      such amount at the highest rate then in effect under this Agreement from and
      after the date such amount is due, owing or unpaid until paid in
      full;

     

     

    (b)  Second,
      to the payment of all other reasonable costs and expenses of such sale,
      collection or other realization including compensation to the other Secured
      Parties and their agents and counsel and all costs, liabilities and advances
      made or incurred by the other Secured Parties in connection therewith, together
      with interest on each such amount at the highest rate then in effect under
      this
      Agreement from and after the date such amount is due, owing or unpaid until
      paid
      in full;

     

     

    (c)  Third,
      without duplication of amounts applied pursuant to clauses (a) and (b) above,
      to
      the indefeasible payment in full in cash, pro rata, of interest and
      other amounts constituting Obligations (other than principal and Reimbursement
      Obligations) and any fees, premiums and scheduled periodic payments due under
      Hedging Agreements or Treasury Services Agreements constituting Secured
      Obligations and any interest accrued thereon, in each case equally and ratably
      in accordance with the respective amounts thereof then due and
      owing;

     

     

    (d)  Fourth,
      to the indefeasible payment in full in cash, pro rata, of principal
      amount of the Obligations and any premium thereon (including Reimbursement
      Obligations) and any breakage, termination or other payments under Hedging
      Agreements and Treasury Services Agreements constituting Secured Obligations
      and
      any interest accrued thereon; and

     

     

    (e)  Fifth,
      the balance, if any, to the person lawfully entitled thereto (including the
      applicable Loan Party or its successors or assigns) or as a court of competent
      jurisdiction may direct.

     

     

    In
      the
      event that any such proceeds are insufficient to pay in full the items described
      in clauses (a) through (e) of this Section 8.02, the Loan Parties shall
      remain liable, jointly and severally, for any deficiency.

     

     

    ARTICLE
      IX                                

     

    THE
      ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT

     

    Section
      9.01  Appointment
      and Authority

     

    .  Each
      of the Lenders and the Issuing Bank hereby irrevocably appoints Wells Fargo
      Bank, National Association, to act on its behalf as the Administrative Agent
      and
      the Collateral Agent hereunder and under the other Loan Documents and authorizes
      such Agents to take such actions on its behalf and to exercise such powers
      as
      are delegated to such Agents by the terms hereof or thereof, together with
      such
      actions and powers as are reasonably incidental thereto.  The
      provisions of this Article are solely for the benefit of the Administrative
      Agent, the Collateral Agent, the Lenders and the Issuing Bank, and neither
      Borrower nor any other Loan Party shall have rights as a third party beneficiary
      of any of such provisions.

     

    Section
      9.02  Rights
      as a Lender

     

    .  Each
      person serving as an Agent hereunder shall have the same rights and powers
      in
      its capacity as a Lender as any other Lender and may exercise the same as though
      it were not an Agent and the term “Lender” or “Lenders” shall, unless otherwise
      expressly indicated or unless the context otherwise requires, include each
      person serving as an Agent hereunder in its individual capacity.  Such
      person and its Affiliates may accept deposits from, lend money to, act as the
      financial advisor or in any other advisory capacity for and generally engage
      in
      any kind of business with Borrower or any Subsidiary or other Affiliate thereof
      as if such person were not an Agent hereunder and without any duty to account
      therefor to the Lenders.

     

    Section
      9.03  Exculpatory
      Provisions

     

    .  No
      Agent shall have any duties or obligations except those expressly set forth
      herein and in the other Loan Documents.  Without limiting the
      generality of the foregoing, no Agent:

     

     

    (i)  shall
      be
      subject to any fiduciary or other implied duties, regardless of whether a
      Default has occurred and is continuing;

     

     

    (ii)  shall
      have any duty to take any discretionary action or exercise any discretionary
      powers, except discretionary rights and powers expressly contemplated hereby
      or
      by the other Loan Documents that such Agent is required to exercise as directed
      in writing by the Required Lenders (or such other number or percentage of the
      Lenders as shall be expressly provided for herein or in the other Loan
      Documents); provided that such Agent shall not be required to take any
      action that, in its judgment or the judgment of its counsel, may expose such
      Agent to liability or that is contrary to any Loan Document or applicable
      Requirements of Law; and

     

     

    (iii)  shall,
      except as expressly set forth herein and in the other Loan Documents, have
      any
      duty to disclose, and shall not be liable for the failure to disclose, any
      information relating to Borrower or any of its Affiliates that is communicated
      to or obtained by the person serving as such Agent or any of its Affiliates
      in
      any capacity.

     

     

    No
      Agent
      shall be liable for any action taken or not taken by it (x) with the consent
      or
      at the request of the Required Lenders (or such other number or percentage
      of
      the Lenders as shall be necessary, or as such Agent shall believe in good faith
      shall be necessary, under the circumstances as provided in Section 10.02)
      or (y) in the absence of its own gross negligence or willful
      misconduct.  No Agent shall be deemed to have knowledge of any Default
      unless and until notice describing such Default is given to such Agent by
      Borrower, a Lender or the Issuing Bank.

     

     

    No
      Agent
      shall be responsible for or have any duty to ascertain or inquire into (i)
      any
      statement, warranty or representation made in or in connection with this
      Agreement or any other Loan Document, (ii) the contents of any certificate,
      report or other document delivered hereunder or thereunder or in connection
      herewith or therewith, (iii) the performance or observance of any of the
      covenants, agreements or other terms or conditions set forth herein or therein
      or the occurrence of any Default, (iv) the validity, enforceability,
      effectiveness or genuineness of this Agreement, any other Loan Document or
      any
      other agreement, instrument or document or (v) the satisfaction of any condition
      set forth in Article IV or elsewhere herein, other than to confirm
      receipt of items expressly required to be delivered to such
      Agent.  Without limiting the generality of the foregoing, the use of
      the term “agent” in this Agreement with reference to the Administrative Agent or
      the Collateral Agent is not intended to connote any fiduciary or other implied
      (or express) obligations arising under agency doctrine of any applicable
      law.  Instead, such term us used merely as a matter of market custom
      and is intended to create or reflect only an administrative relationship between
      independent contracting parties.

     

    Section
      9.04  Reliance
      by Agent

     

    .  Each
      Agent shall be entitled to rely upon, and shall not incur any liability for
      relying upon, any notice, request, certificate, consent, statement, instrument,
      document or other writing (including any electronic message, Internet or
      intranet website posting or other distribution) believed by it to be genuine
      and
      to have been signed, sent or otherwise authenticated by the proper
      person.  Each Agent also may rely upon any statement made to it orally
      or by telephone and believed by it to have been made by the proper person,
      and
      shall not incur any liability for relying thereon.  In determining
      compliance with any condition hereunder to the making of a Loan, or the issuance
      of a Letter of Credit, that by its terms must be fulfilled to the satisfaction
      of a Lender or the Issuing Bank, the Administrative Agent may presume that
      such
      condition is satisfactory to such Lender or the Issuing Bank unless the
      Administrative Agent shall have received notice to the contrary from such Lender
      or the Issuing Bank prior to the making of such Loan or the issuance of such
      Letter of Credit.  Each Agent may consult with legal counsel (who may
      be counsel for Borrower), independent accountants and other experts selected
      by
      it, and shall not be liable for any action taken or not taken by it in
      accordance with the advice of any such counsel, accountants or
      experts.

     

    Section
      9.05  Delegation
      of Duties

     

    .  Each
      Agent may perform any and all of its duties and exercise its rights and powers
      hereunder or under any other Loan Document by or through, or delegate any and
      all such rights and powers to, any one or more sub-agents appointed by such
      Agent, including a sub-agent which is a non-U.S. Affiliate of such
      Agent.  Each Agent and any such sub-agent may perform any and all of
      its duties and exercise its rights and powers by or through their respective
      Related Parties.  The exculpatory provisions of this Article and the
      indemnification and reimbursement provisions of Article X shall apply to
      any such sub-agent and to the Related Parties of each Agent and any such
      sub-agent, and shall apply to their respective activities in connection with
      the
      syndication of the credit facilities provided for herein as well as activities
      as Agent.

     

    Section
      9.06  Resignation
      of Agent

     

    .  Each
      Agent may at any time give notice of its resignation to the Lenders, the Issuing
      Bank and Borrower.  Upon receipt of any such notice of resignation,
      the Required Lenders shall have the right, in consultation with Borrower, to
      appoint a successor, which shall be a bank with an office in the United States,
      or an Affiliate of any such bank with an office in the United
      States.  If no such successor shall have been so appointed by the
      Required Lenders and shall have accepted such appointment within 30 days after
      the retiring Agent gives notice of its resignation, then the retiring Agent
      may
      on behalf of the Lenders and the Issuing Bank, appoint a successor Agent meeting
      the qualifications set forth above; provided that if the Agent shall
      notify Borrower and the Lenders that no qualifying person has accepted such
      appointment, then such resignation shall nonetheless become effective in
      accordance with such notice and (1) the retiring Agent shall be discharged
      from
      its duties and obligations hereunder and under the other Loan Documents (except
      that in the case of any collateral security held by the Collateral Agent on
      behalf of the Lenders or the Issuing Bank under any of the Loan Documents,
      the
      retiring Collateral Agent shall continue to hold such collateral security as
      nominee until such time as a successor Collateral Agent is appointed) and (2)
      all payments, communications and determinations provided to be made by, to
      or
      through an Agent shall instead be made by or to each Lender and the Issuing
      Bank
      directly, until such time as the Required Lenders appoint a successor Agent
      as
      provided for above in this paragraph.  Upon the acceptance of a
      successor’s appointment as Agent hereunder, such successor shall succeed to and
      become vested with all of the rights, powers, privileges and duties of the
      retiring (or retired) Agent, and the retiring Agent shall be discharged from
      all
      of its duties and obligations hereunder or under the other Loan Documents (if
      not already discharged therefrom as provided above in this
      paragraph).  The fees payable by Borrower to a successor Agent shall
      be the same as those payable to its predecessor unless otherwise agreed between
      Borrower and such successor.  After the retiring Agent’s resignation
      hereunder and under the other Loan Documents, the provisions of this Article
      IX and Section 10.03 shall continue in effect for the benefit of such
      retiring Agent, its sub-agents and their respective Related Parties in respect
      of any actions taken or omitted to be taken by any of them while the retiring
      Agent was acting as Agent.

     

    Section
      9.07  Non-Reliance
      on Agent and Other Lenders

     

    .  Each
      Lender and the Issuing Bank acknowledges that it has, independently and without
      reliance upon any Agent or any other Lender and based on such documents and
      information as it has deemed appropriate, made its own credit analysis and
      decision to enter into this Agreement.  Each Lender further represents
      and warrants that it has reviewed the Confidential Information Memorandum and
      each other document made available to it on the Platform in connection with
      this
      Agreement and has acknowledged and accepted the terms and conditions applicable
      to the recipients thereof.  Each Lender and the Issuing Bank also
      acknowledges that it will, independently and without reliance upon any Agent
      or
      any other Lender and based on such documents and information as it shall from
      time to time deem appropriate, continue to make its own decisions in taking
      or
      not taking action under or based upon this Agreement, any other Loan Document
      or
      any related agreement or any document furnished hereunder or
      thereunder.

     

    Section
      9.08  No
      Other Duties, etc

     

    .  Anything
      herein to the contrary notwithstanding, except for consent rights and expense
      reimbursement and indemnification rights in favor of the Arranger expressly
      set
      forth herein, none of the Bookrunner, Arranger, Syndication Agent or
      Documentation Agent listed on the cover page hereof shall have any powers,
      duties or responsibilities under this Agreement or any of the other Loan
      Documents, except in its capacity, as applicable, as the Administrative Agent,
      the Collateral Agent, a Lender or the Issuing Bank hereunder.

     

     

    ARTICLE
      X                                

     

    MISCELLANEOUS

     

    Section
      10.01  Notices

     

    (a)  Generally.  Except
      in the case of notices and other communications expressly permitted to be given
      by telephone (and except as provided in paragraph (b) below), all notices and
      other communications provided for herein shall be in writing and shall be
      delivered by hand or overnight courier service, mailed by certified or
      registered mail or sent by telecopier as follows:

     

     

    (i)  if
      to any
      Loan Party, to Borrower at:

     

     

    Itron,
      Inc.

     

    2111
      North Molter Road

     

    Liberty
      Lake, WA 99019

     

    Attention:
      Chief Financial Officer

     

    Telecopier
      No.: (509) 891-3334

     

    Email:  steve.helmbrecht@itron.com

     

    

     

    with
      a
      copy to:

     

    

     

    Itron,
      Inc.

     

    2111
      North Molter Road

     

    Liberty
      Lake, WA 99019

     

    Attention:
      Senior Vice President, General Counsel

     

    Telecopier
      No.: (509) 891-3655

     

    Email:  john.holleran@itron.com

     

    

     

    and

     

    

     

    Perkins
      Coie LLP

     

    1201
      Third Avenue, 48th flr.

     

    Seattle,
      WA 98101-3099

     

    Attention:
      James D. Gradel

     

    Telecopier
      No.: (206) 359-8401

     

    Email:  jgradel@perkinscoie.com

     

    (ii)  if
      to the
      Administrative Agent, the Collateral Agent or Wells Fargo, as an Issuing Bank,
      to it at:

     

     

    Wells
      Fargo Bank

     

    Inland
      Northwest RCBO

     

    601
      West
      First Avenue, Suite 900

     

    Spokane,
      WA 99201

     

    Attention:
      Tom Beil

     

    Telecopier
      No.:  (509) 455-5760

     

    Email:
      beilt@wellsfargo.com

     

    (iii)  if
      to
      Mizuho, as an Issuing Bank, to it at:

     

     

    Mizuho
      Corporate Bank, Ltd.

     

    River
      Plate House

     

    7-11
      Finsbury Square

     

    London

     

    EC2M
      7DH

     

    Attention:
      Steve Kerns

     

    Telecopier
      No.: 0207 012 4410

     

    Email:
      steve.kerns@mhcb.co.uk

     

    (iv)  if
      to a
      Lender, to it at its address (or telecopier number) set forth in its
      Administrative Questionnaire; and

     

     

    (v)  if
      to the
      Swingline Lender, to it at:

     

     

    Wells
      Fargo Bank

     

    Inland
      Northwest RCBO

     

    601
      West
      First Avenue, Suite 900

     

    Spokane,
      WA 99201

     

    Attention:
      Tom Beil

     

    Telecopier
      No.:  (509) 455-5760

     

    Email:
      beilt@wellsfargo.com

     

    Notices
      sent by hand or overnight courier service, or mailed by certified or registered
      mail, shall be deemed to have been given when received; notices sent by
      telecopier shall be deemed to have been given when sent (except that, if not
      given during normal business hours for the recipient, shall be deemed to have
      been given at the opening of business on the next business day for the
      recipient).  Notices delivered through electronic communications to
      the extent provided in paragraph (b) below, shall be effective as provided
      in
      said paragraph (b).

     

     

    (b)  Electronic
      Communications.  Notices and other communications to the Lenders
      and the Issuing Bank hereunder may (subject to Section 10.01(d)) be
      delivered or furnished by electronic communication (including email and Internet
      or intranet websites) pursuant to procedures approved by the Administrative
      Agent; provided that the foregoing shall not apply to notices to any
      Lender or the Issuing Bank pursuant to Article II if such Lender or the
      Issuing Bank, as applicable, has notified the Administrative Agent that it
      is
      incapable of receiving notices under such Article by electronic
      communication.  The Administrative Agent, the Collateral Agent or
      Borrower may, in its discretion, agree to accept notices and other
      communications to it hereunder by electronic communications pursuant to
      procedures approved by it (including as set forth in Section 10.01(d));
provided that approval of such procedures may be limited to particular
      notices or communications.

     

     

    Unless
      the Administrative Agent otherwise prescribes, (i) notices and other
      communications sent to an email address shall be deemed received upon the
      sender’s receipt of an acknowledgement from the intended recipient (such as by
      the “return receipt requested” function, as available, return email or other
      written acknowledgement); provided that if such notice or other
      communication is not sent during the normal business hours of the recipient,
      such notice or communication shall be deemed to have been sent at the opening
      of
      business on the next business day for the recipient, and (ii) notices or
      communications posted to an Internet or intranet website shall be deemed
      received upon the deemed receipt by the intended recipient at its email address
      as described in the foregoing clause (i) of notification that such notice or
      communication is available and identifying the website address
      therefor.

     

     

    (c)  Change
      of Address, etc.  Any party hereto may change its address or
      telecopier number for notices and other communications hereunder by notice
      to
      the other parties hereto.

     

     

    (d)  Posting.  Each
      Loan Party hereby agrees that it will provide to the Administrative Agent all
      information, documents and other materials that it is obligated to furnish
      to
      the Administrative Agent pursuant to this Agreement and any other Loan Document,
      including all notices, requests, financial statements, financial and other
      reports, certificates and other information materials, but excluding any such
      communication that (i) relates to a request for a new, or a conversion of an
      existing, Borrowing or other extension of credit (including any election of
      an
      interest rate or interest period relating thereto), (ii) relates to the payment
      of any principal or other amount due under this Agreement prior to the scheduled
      date therefor, (iii) provides notice of any Default under this Agreement or
      (iv)
      is required to be delivered to satisfy any condition precedent to the
      effectiveness of this Agreement and/or any borrowing or other extension of
      credit hereunder (all such non-excluded communications, collectively, the
“Communications”), by transmitting the Communications in an
      electronic/soft medium in a format reasonably acceptable to the Administrative
      Agent at beilt@wellsfargo.com and godleys@wellsfargo.com or at such other email
      address(es) provided to Borrower from time to time or in such other form,
      including hard copy delivery thereof, as the Administrative Agent shall
      require.  In addition, each Loan Party agrees to continue to provide
      the Communications to the Administrative Agent in the manner specified in this
      Agreement or any other Loan Document or in such other form, including hard
      copy
      delivery thereof, as the Administrative Agent shall require.  Nothing
      in this Section 10.01 shall prejudice the right of the Agents, any Lender
      or any Loan Party to give any notice or other communication pursuant to this
      Agreement or any other Loan Document in any other manner specified in this
      Agreement or any other Loan Document or as any such Agent shall
      require.

     

     

    To
      the
      extent consented to by the Administrative Agent in writing from time to time,
      the Administrative Agent agrees that receipt of the Communications by the
      Administrative Agent at its email address(es) set forth above shall constitute
      effective delivery of the Communications to the Administrative Agent for
      purposes of the Loan Documents; provided that Borrower shall also
      deliver to the Administrative Agent an executed original of each Compliance
      Certificate required to be delivered hereunder.

     

     

    Each
      Loan
      Party further agrees that Administrative Agent may make the Communications
      available to the Lenders by posting the Communications on Intralinks or a
      substantially similar electronic transmission system (the
“Platform”).  The Platform is provided “as is” and
“as available.”  The Agents do not warrant the accuracy or
      completeness of the Communications, or the adequacy of the Platform and
      expressly disclaim liability for errors or omissions in the
      communications.  No warranty of any kind, express, implied or
      statutory, including, without limitation, any warranty of merchantability,
      fitness for a particular purpose, non-infringement of third party rights or
      freedom from viruses or other code defects, is made by any Agent in connection
      with the Communications or the Platform.  In no event shall the
      Administrative Agent or any of its Related Parties have any liability to the
      Loan Parties, any Lender or any other person for damages of any kind, including
      direct or indirect, special, incidental or consequential damages, losses or
      expenses (whether in tort, contract or otherwise) arising out of any Loan
      Party’s or the Administrative Agent’s transmission of communications through the
      Internet, except to the extent the liability of such person is found in a final
      non-appealable judgment by a court of competent jurisdiction to have resulted
      from such person’s gross negligence or willful misconduct.

     

    Section
      10.02  Waivers;
      Amendment

     

    (a)  Generally.  No
      failure or delay by any Agent, the Issuing Bank or any Lender in exercising
      any
      right or power hereunder or under any other Loan Document shall operate as
      a
      waiver thereof, nor shall any single or partial exercise of any such right
      or
      power, or any abandonment or discontinuance of steps to enforce such a right
      or
      power, preclude any other or further exercise thereof or the exercise of any
      other right or power.  The rights and remedies of each Agent, the
      Issuing Bank and the Lenders hereunder and under the other Loan Documents are
      cumulative and are not exclusive of any rights or remedies that they would
      otherwise have.  No waiver of any provision of any Loan Document or
      consent to any departure by any Loan Party therefrom shall in any event be
      effective unless the same shall be permitted by this Section 10.02, and
      then such waiver or consent shall be effective only in the specific instance
      and
      for the purpose for which given.  Without limiting the generality of
      the foregoing, the making of a Loan or issuance of a Letter of Credit shall
      not
      be construed as a waiver of any Default, regardless of whether any Agent, any
      Lender or the Issuing Bank may have had notice or knowledge of such Default
      at
      the time.  No notice or demand on Borrower in any case shall entitle
      Borrower to any other or further notice or demand in similar or other
      circumstances.

     

     

    (b)  Required
      Consents.  Subject to Section 10.02(c) and (d),
      neither this Agreement nor any other Loan Document nor any provision hereof
      or
      thereof may be waived, amended, supplemented or modified except, in the case
      of
      this Agreement, pursuant to an agreement or agreements in writing entered into
      by Borrower and the Required Lenders or, in the case of any other Loan Document,
      pursuant to an agreement or agreements in writing entered into by the
      Administrative Agent, the Collateral Agent (in the case of any Security
      Document) and the Loan Party or Loan Parties that are party thereto, in each
      case with the written consent of the Required Lenders; provided that no
      such agreement shall be effective if the effect thereof would:

     

     

    (i)  increase
      the Commitment of any Lender without the written consent of such Lender (it
      being understood that no amendment, modification, termination, waiver or consent
      with respect to any condition precedent, covenant or Default shall constitute
      an
      increase in the Commitment of any Lender);

     

     

    (ii)  reduce
      or
      forgive the principal amount of any Loan or LC Disbursement or reduce the rate
      of interest thereon (other than interest pursuant to Section
      2.06(d)), or reduce or forgive any Fees payable hereunder, or
      change the form or currency of payment of any Obligation, without the written
      consent of each Lender directly affected thereby (it being understood that
      any
      amendment or modification to the financial definitions in this Agreement shall
      not constitute a reduction in the rate of interest for purposes of this clause
      (ii));

     

     

    (iii)  (A)
      change the scheduled final maturity of any Loan, or any scheduled date of
      payment of or the installment otherwise due on the principal amount of any
      Term
      Loan under Section 2.09, (B) postpone the date for payment of any
      Reimbursement Obligation or any interest or fees payable hereunder, (C) change
      the amount of, waive or excuse any such payment (other than waiver of any
      increase in the interest rate pursuant to Section 2.06(d)),
      or (D) postpone the scheduled date of expiration of any Commitment or any Letter
      of Credit beyond the Revolving Maturity Date, in any case, without the written
      consent of each Lender directly affected thereby;

     

     

    (iv)  increase
      the maximum duration of Interest Periods hereunder, without the written consent
      of each Lender directly affected thereby;

     

     

    (v)  permit
      the assignment or delegation by Borrower of any of its rights or obligations
      under any Loan Document, without the written consent of each
      Lender;

     

     

    (vi)  release
      all or substantially all of the Subsidiary Guarantors from their Guarantee
      (except as expressly provided in Article VII), or limit their liability
      in respect of such Guarantee, without the written consent of each
      Lender;

     

     

    (vii)  release
      all or a substantial portion of the Collateral from the Liens of the Security
      Documents or alter the relative priorities of the Secured Obligations entitled
      to the Liens of the Security Documents, in each case without the written consent
      of each Lender (it being understood that additional Classes of Loans consented
      to by the Required Lenders may be equally and ratably secured by the Collateral
      with the then existing Secured Obligations under the Security
      Documents);

     

     

    (viii)  change
      Section 2.14(b), (c) or (d) in a manner that would alter
      the pro rata sharing of payments or setoffs required thereby or any
      other provision in a manner that would alter the pro rata allocation
      among the Lenders of Loan disbursements, including the requirements of
Sections 2.02(a), 2.17(d) and 2.18(d), without the written
      consent of each Lender directly affected thereby;

     

     

    (ix)  change
      or
      waive the application of the proceeds of Collateral provided in Section
      8.02 or change Section 8.02 in a manner that would alter the pro
      rata sharing of the proceeds of Collateral required thereby, without the
      written consent of each Lender, Issuing Bank and Agent directly affected
      thereby;

     

     

    (x)  change
      or
      waive any provision of this Section 10.02(b) or Section 10.02(c)
      or (d), without the written consent of each Lender, Issuing Bank and
      Agent directly affected thereby (except for additional restrictions on
      amendments or waivers for the benefit of Lenders of additional Classes of Loans
      consented to by the Required Lenders);

     

     

    (xi)  change
      the percentage set forth in the definition of “Required Lenders,” “Required
      Class Lenders,” “Required Revolving Lenders” or any other provision of any Loan
      Document (including this Section) specifying the number or percentage of Lenders
      (or Lenders of any Class) required to waive, amend or modify any rights
      thereunder or make any determination or grant any consent thereunder, without
      the written consent of each Lender (or each Lender of such Class, as the case
      may be), other than to increase such percentage or number or to give any
      additional Lender or group of Lenders such right to waive, amend or modify
      or
      make any such determination or grant any such consent;

     

     

    (xii)  change
      or
      waive the application of prepayments as among or between Classes under
Section 2.10(g), without the written consent of the
      Required Class Lenders of each Class that is being allocated a lesser prepayment
      as a result thereof (it being understood that the Required Lenders may waive,
      in
      whole or in part, any prepayment so long as the application, as between Classes,
      of any portion of such prepayment that is still required to be made is not
      changed and, if additional Classes of Term Loans under this Agreement consented
      to by the Required Lenders are made, such new Term Loans may be included on
      a
pro rata basis in the various prepayments required pursuant to
Section 2.10(g));

     

     

    (xiii)  change
      or
      waive the application of prepayments of Term Loans of any Class set forth in
      Section 2.10(g) to the remaining scheduled amortization
      payments to be made thereon under Section 2.09, without the written
      consent of the Required Class Lenders of such Class;

     

     

    (xiv)  change
      or
      waive any provision of Article X as the same applies to any Agent, or any
      other provision hereof as the same applies to the rights or obligations of
      any
      Agent, in each case without the written consent of such Agent;

     

     

    (xv)  change
      or
      waive any provision of Section 2.18 or change or waive any obligation of
      the Lenders relating to the issuance of or purchase of participations in Letters
      of Credit, without the written consent of the Administrative Agent and the
      Issuing Bank;

     

     

    (xvi)  change
      or
      waive any provision hereof relating to Swingline Loans (including the definition
      of “Swingline Commitment”), without the written consent of the Swingline Lender;
      or

     

     

    (xvii)  expressly
      change or waive any condition precedent in Section 4.02 to any Revolving
      Borrowing without the written consent of the Required Revolving
      Lenders;

     

     

    provided,
      further, that any waiver, amendment or modification prior to the completion
      of the primary syndication of the Commitments and Loans (as determined by the
      Arranger) may not be effected without the written consent of the
      Arranger.

     

     

    (c)  Collateral.  Without
      the consent of any other person, the applicable Loan Party or Parties and the
      Administrative Agent and/or Collateral Agent may (in its or their respective
      sole discretion, or shall, to the extent required by any Loan Document) enter
      into any amendment or waiver of any Loan Document, or enter into any new
      agreement or instrument, to effect the granting, perfection, protection,
      expansion or enhancement of any security interest in any Collateral or
      additional property to become Collateral for the benefit of the Secured Parties,
      or as required by local law to give effect to, or protect any security interest
      for the benefit of the Secured Parties, in any property or so that the security
      interests therein comply with applicable Requirements of Law.

     

     

    (d)  Dissenting
      Lenders.  If, in connection with any proposed change,
      waiver, discharge or termination of the provisions of this Agreement as
      contemplated by Section 10.02(b), 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 Borrower shall have the right to replace all,
      but
      not less than all, of such non-consenting Lender or Lenders (so long as all
      non-consenting Lenders are so replaced) with one or more persons pursuant to
      Section 2.16 so long as at the time of such replacement each such
      new Lender consents to the proposed change, waiver, discharge or
      termination.  Each Lender agrees that, if Borrower elects to replace
      such Lender in accordance with this Section, it shall promptly execute and
      deliver to the Administrative Agent an Assignment and Assumption to evidence
      such sale and purchase and shall deliver to the Administrative Agent any Note
      (if Notes have been issued in respect of such Lender’s Loans) subject to such
      Assignment and Assumption; provided that the failure of any such
      non-consenting Lender to execute an Assignment and Assumption shall not render
      such sale and purchase (and the corresponding assignment) invalid and such
      assignment shall be recorded in the Register.

     

    Section
      10.03  Expenses;
      Indemnity; Damage Waiver

     

    (a)  Costs
      and Expenses.  Borrower shall pay (i) all reasonable out of pocket
      expenses incurred by the Arranger, the Administrative Agent (and any sub-agent
      thereof), the Collateral Agent and their respective Affiliates (including the
      reasonable fees, charges and disbursements of counsel for the Administrative
      Agent and/or the Collateral Agent) in connection with the syndication of the
      credit facilities provided for herein (including the obtaining and maintaining
      of CUSIP numbers for the Loans), the preparation, negotiation, execution,
      delivery and administration of this Agreement and the other Loan Documents
      or
      any amendment, amendment and restatement, modification or waiver of the
      provisions hereof or thereof (whether or not the transactions contemplated
      hereby or thereby shall be consummated), including in connection with
      post-closing searches to confirm that security filings and recordations have
      been properly made, (ii) all reasonable out of pocket expenses incurred by
      the
      Issuing Bank in connection with the issuance, amendment, renewal or extension
      of
      any Letter of Credit or any demand for payment thereunder, (iii) all out of
      pocket expenses incurred by the Arranger, the Administrative Agent, the
      Collateral Agent, any Lender or the Issuing Bank (including the fees, charges
      and disbursements of any counsel for the Arranger, the Administrative Agent,
      the
      Collateral Agent, any Lender or the Issuing Bank), in connection with the
      enforcement or protection of its rights (A) in connection with this Agreement
      and the other Loan Documents, including its rights under this Section
      10.03, or (B) in connection with the Loans made or Letters of Credit issued
      hereunder, including all such out of pocket expenses incurred during any
      workout, restructuring or negotiations in respect of such Loans or Letters
      of
      Credit and (iv) all documentary and similar taxes and charges in respect of
      the
      Loan Documents.

     

     

    (b)  Indemnification
      by Borrower.  Borrower shall indemnify the Arranger, the
      Administrative Agent (and any sub-agent thereof), the Collateral Agent (and
      any
      sub-agent thereof) each Lender and the Issuing Bank, and each Related Party
      of
      any of the foregoing persons (each such person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from,
      any and all losses, claims, damages, liabilities and related expenses (including
      the fees, charges and disbursements of any counsel for any Indemnitee) incurred
      by any Indemnitee or asserted against any Indemnitee by any third party or
      by
      Borrower or any other Loan Party arising out of, in connection with, or as
      a
      result of (i) the execution or delivery of this Agreement, any other Loan
      Document, or any amendment, amendment and restatement, modification or waiver
      of
      the provisions hereof or thereof, or any agreement or instrument contemplated
      hereby or thereby, the performance by the parties hereto of their respective
      obligations hereunder or thereunder or the consummation of the transactions
      contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use
      or
      proposed use of the proceeds therefrom (including any refusal by the Issuing
      Bank to honor a demand for payment under a Letter of Credit if the documents
      presented in connection with such demand do not strictly comply with the terms
      of such Letter of Credit), (iii) any actual or alleged presence or Release
      or
      threatened Release of Hazardous Materials on, at, under or from any property
      owned, leased or operated by any Company at any time, or any Environmental
      Claim
      related in any way to any Company, or (iv) any actual or prospective claim,
      litigation, investigation or proceeding relating to any of the foregoing,
      whether based on contract, tort or any other theory, whether brought by a third
      party or by Borrower or any other Loan Party, and regardless of whether any
      Indemnitee is a party thereto; provided that such indemnity shall not,
      as to any Indemnitee, be available to the extent that such losses, claims,
      damages, liabilities or related expenses (x) are determined by a court of
      competent jurisdiction by final and nonappealable judgment to have resulted
      primarily from the gross negligence or willful misconduct of such Indemnitee
      or
      solely from the material breach of a Loan Document by such Indemnitee or (y)
      result from a claim brought by Borrower or any other Loan Party against an
      Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or
      under any other Loan Document, if Borrower or such Loan Party has obtained
      a
      final and nonappealable judgment in its favor on such claim as determined by
      a
      court of competent jurisdiction.

     

     

    (c)  Reimbursement
      by Lenders.  To the extent that Borrower for any reason fails to
      indefeasibly pay any amount required under paragraph (a) or (b) of this
Section 10.03 to be paid by it to the Arranger, the Administrative Agent
      (or any sub-agent thereof), the Collateral Agent, the Issuing Bank, the
      Swingline Lender or any Related Party of any of the foregoing (and without
      limiting Borrower’s obligation to do so), each Lender severally agrees to pay to
      the Arranger, the Administrative Agent (or any such sub-agent), the Collateral
      Agent (or any sub-agent thereof), the Issuing Bank, the Swingline Lender or
      such
      Related Party, as the case may be, such Lender’s pro rata share
      (determined as of the time that the applicable unreimbursed expense or indemnity
      payment is sought) of such unpaid amount; provided that the
      unreimbursed expense or indemnified loss, claim, damage, liability or related
      expense, as the case may be, was incurred by or asserted against the Arranger,
      the Administrative Agent (or any such sub-agent), the Collateral Agent (or
      any
      sub-agent thereof), the Swingline Lender or the Issuing Bank in its capacity
      as
      such, or against any Related Party of any of the foregoing acting for the
      Arranger, the Administrative Agent (or any such sub-agent), the Collateral
      Agent
      (or any sub-agent thereof), the Swingline Lender or Issuing Bank in connection
      with such capacity.  The obligations of the Lenders under this
      paragraph (c) are subject to the provisions of Section
      2.14.  For purposes hereof, a Lender’s “pro rata share”
shall be determined based upon its share of the sum of the total
      Revolving
      Exposure, outstanding Term Loans and unused Commitments at the
      time.

     

     

    (d)  Waiver
      of Consequential Damages, Etc.  To the fullest extent permitted by
      applicable Requirements of Law, no Loan Party shall assert, and each Loan Party
      hereby waives, any claim against any Indemnitee, on any theory of liability,
      for
      special, indirect, consequential or punitive damages (as opposed to direct
      or
      actual damages) arising out of, in connection with, or as a result of, this
      Agreement, any other Loan Document or any agreement or instrument contemplated
      hereby, the transactions contemplated hereby or thereby, any Loan or Letter
      of
      Credit or the use of the proceeds thereof.  No Indemnitee referred to
      in paragraph (b) above shall be liable for any damages arising from the use
      by
      unintended recipients of any information or other materials distributed by
      it
      through telecommunications, electronic or other information transmission systems
      in connection with this Agreement or the other Loan Documents or the
      transactions contemplated hereby or thereby.

     

     

    (e)  Payments.  All
      amounts due under this Section shall be payable not later than 3 Business Days
      after demand therefor.

     

    Section
      10.04  Successors
      and Assigns

     

    (a)  Successors
      and Assigns Generally.  The provisions of this Agreement shall be
      binding upon and inure to the benefit of the parties hereto and their respective
      successors and assigns permitted hereby, except that Borrower may not assign
      or
      otherwise transfer any of its rights or obligations hereunder without the prior
      written consent of the Administrative Agent, the Collateral Agent, the Issuing
      Lender, the Swingline Lender and each Lender and no Lender may assign or
      otherwise transfer any of its rights or obligations hereunder except (i) to
      an
      Eligible Assignee in accordance with the provisions of paragraph (b) of this
      Section 10.04, (ii) by way of participation in accordance with the
      provisions of paragraph (d) of this Section 10.04 or (iii) by way of
      pledge or assignment of a security interest subject to the restrictions of
      paragraph (f) of this Section (and any other attempted assignment or transfer
      by
      Borrower or any Lender shall be null and void).  Nothing in this
      Agreement, expressed or implied, shall be construed to confer upon any person
      (other than the parties hereto, their respective successors and assigns
      permitted hereby, Participants to the extent provided in paragraph (d) of this
      Section and, to the extent expressly contemplated hereby, the other Indemnitees)
      any legal or equitable right, remedy or claim under or by reason of this
      Agreement.

     

     

    (b)  Assignments
      by Lenders.  Any Lender may at any time assign to one or more
      Eligible Assignees all or a portion of its rights and obligations under this
      Agreement (including all or a portion of its Commitment and the Loans at the
      time owing to it); provided that

     

     

    (i)  except
      in
      the case of any assignment made in connection with the primary syndication
      of
      the Commitment and Loans by the Arranger or an assignment of the entire
      remaining amount of the assigning Lender’s Commitment and the Loans at the time
      owing to it or in the case of an assignment to a Lender or an Affiliate of
      a
      Lender or an Approved Fund with respect to a Lender, the aggregate amount of
      the
      Commitment (which for this purpose includes Loans outstanding thereunder) or,
      if
      the applicable Commitment is not then in effect, the principal outstanding
      balance of the Loans of the assigning Lender subject to each such assignment
      (determined as of the date the Assignment and Assumption with respect to such
      assignment is delivered to the Administrative Agent or, if “Trade Date” is
      specified in the Assignment and Assumption, as of the Trade Date) shall not
      be
      less than $5.0 million (for such purposes, using the Alternate Currency
      Equivalent of such amount for any such Alternate Currency Loans), in the case
      of
      any assignment in respect of Revolving Loans and/or Revolving Commitments,
      or
      $1.0 million (for such purposes, using the Alternate Currency Equivalent of
      such
      amount for any such Alternate Currency Loans), in the case of any assignment
      in
      respect of Term Loans and/or Term Loan Commitments, unless each of the
      Administrative Agent and, so long as no Default has occurred and is continuing,
      Borrower otherwise consent (each such consent not to be unreasonably withheld
      or
      delayed);

     

     

    (ii)  each
      partial assignment shall be made as an assignment of a proportionate part of
      all
      the assigning Lender’s rights and obligations under this Agreement with respect
      to the Loan or the Commitment assigned, except that this clause (ii) shall
      not
      prohibit any Lender from assigning all or a portion of its rights and
      obligations among separate tranches on a non-pro rata basis;
      and

     

     

    (iii)  the
      parties to each assignment shall execute and deliver to the Administrative
      Agent
      an Assignment and Assumption, together with (except in the case of any such
      assignments by the Arranger or its Affiliates) a processing and recordation
      fee
      of $3,500 (provided that only one such fee shall be imposed in the case
      of simultaneous assignments by related Approved Funds or Affiliates of the
      assigning Lender), and the Eligible Assignee, if it shall not be a Lender,
      shall
      deliver to the Administrative Agent an Administrative
      Questionnaire.

     

     

    Subject
      to acceptance and recording thereof by the Administrative Agent pursuant to
      paragraph (c) of this Section 10.04, from and after the effective date
      specified in each Assignment and Assumption, the Eligible Assignee thereunder
      shall be a party to this Agreement and, to the extent of the interest assigned
      by such Assignment and Assumption, have the rights and obligations of a Lender
      under this Agreement, and the assigning Lender thereunder shall, to the extent
      of the interest assigned by such Assignment and Assumption, be released from
      its
      obligations under this Agreement (and, in the case of an Assignment and
      Assumption covering all of the assigning Lender’s rights and obligations under
      this Agreement, such Lender shall cease to be a party hereto) but shall continue
      to be entitled to the benefits of Sections 2.12, 2.13, 2.15
      and 10.03 with respect to facts and circumstances occurring prior to the
      effective date of such assignment.  Any assignment or transfer by a
      Lender of rights or obligations under this Agreement that does not comply with
      this paragraph shall be treated for purposes of this Agreement as a sale by
      such
      Lender of a participation in such rights and obligations in accordance with
      paragraph (d) of this Section 10.04.

     

     

    (c)  Register.  The
      Administrative Agent, acting solely for this purpose as an agent of Borrower,
      shall maintain at one of its offices in Syndication Operations, Denver Colorado
      a copy of each Assignment and Assumption delivered to it and a register for
      the
      recordation of the names and addresses of the Lenders, and the Commitments
      of,
      and principal amounts of the Loans and LC Disbursements owing to, each Lender
      pursuant to the terms hereof from time to time (the
“Register”).  The entries in the Register shall be
      conclusive, and Borrower, the Administrative Agent, the Issuing Bank and the
      Lenders may treat each person whose name is recorded in the Register pursuant
      to
      the terms hereof as a Lender hereunder for all purposes of this Agreement,
      notwithstanding notice to the contrary.  The Register shall be
      available for inspection by Borrower, the Issuing Bank, the Collateral Agent,
      the Swingline Lender and any Lender (with respect to its own interest only),
      at
      any reasonable time and from time to time upon reasonable prior
      notice.

     

     

    (d)  Participations.  Any
      Lender may at any time, without the consent of, or notice to, Borrower, the
      Administrative Agent, the Issuing Bank or the Swingline Lender sell
      participations to any person (other than a natural person or Borrower or any
      of
      Borrower’s Affiliates or Subsidiaries) (each, a “Participant”)
      in all or a portion of such Lender’s rights and/or obligations under this
      Agreement (including all or a portion of its Commitment and/or the Loans owing
      to it); provided that (i) such Lender’s obligations under this
      Agreement shall remain unchanged, (ii) such Lender shall remain solely
      responsible to the other parties hereto for the performance of such obligations
      and (iii) Borrower, the Administrative Agent and the Lenders and Issuing Bank
      shall continue to deal solely and directly with such Lender in connection with
      such Lender’s rights and obligations under this Agreement.

     

     

    Any
      agreement or instrument pursuant to which a Lender sells such a participation
      shall provide that such Lender shall retain the sole right to enforce the Loan
      Documents and to approve any amendment, modification or waiver of
      any  provision of the Loan Documents; provided that such
      agreement or instrument may provide that such Lender will not, without the
      consent of the Participant, agree to any amendment, modification or waiver
      described in clause (i), (ii) or (iii) of the first proviso to Section
      10.02(b) that affects such Participant.  Subject to paragraph (e)
      of this Section, Borrower agrees that each Participant shall be entitled to
      the
      benefits of Sections 2.12, 2.13 and 2.15 (subject to the
      requirements of those Sections) to the same extent as if it were a Lender and
      had acquired its interest by assignment pursuant to paragraph (b) of this
      Section.  To the extent permitted by law, each Participant also shall
      be entitled to the benefits of Section 10.08 as though it were a Lender,
      provided such Participant agrees to be subject to Section 2.14 as though
      it were a Lender.

     

     

    (e)  Limitations
      on Participant Rights.  A Participant shall not be entitled to
      receive any greater payment under Sections 2.12, 2.13 and
2.15 than the applicable Lender would have been entitled
      to receive with
      respect to the participation sold to such Participant, unless the sale of the
      participation to such Participant is made with Borrower’s prior written
      consent.

     

     

    (f)  Certain
      Pledges.  Any Lender may at any time pledge or assign a security
      interest in all or any portion of its rights under this Agreement to secure
      obligations of such Lender, including any pledge or assignment to secure
      obligations to a Federal Reserve Bank; provided that no such pledge or
      assignment shall release such Lender from any of its obligations hereunder
      or
      substitute any such pledgee or assignee for such Lender as a party
      hereto.  In the case of any Lender that is a fund that invests in bank
      loans, such Lender may, without the consent of Borrower or the Administrative
      Agent, collaterally assign or pledge all or any portion of its rights under
      this
      Agreement, including the Loans and Notes or any other instrument evidencing
      its
      rights as a Lender under this Agreement, to any holder of, trustee for, or
      any
      other representative of holders of, obligations owed or securities issued,
      by
      such fund, as security for such obligations or securities.

     

     

    (g)  Electronic
      Execution of Assignments.  The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall
      be
      deemed to include electronic signatures or the keeping of records in electronic
      form, each of which shall be of the same legal effect, validity or
      enforceability as a manually executed signature or the use of a paper-based
      recordkeeping system, as the case may be, to the extent and as provided for
      in
      any applicable Requirement of Law, including the Federal Electronic Signatures
      in Global and National Commerce Act, the New York State Electronic Signatures
      and Records Act, or any other similar state laws based on the Uniform Electronic
      Transactions Act.

     

     

    (h)  Representations
      of Lenders.  Each Lender, upon execution and delivery hereof or
      upon succeeding to an interest in Commitments or Loans, as the case may be,
      represents and warrants as of the Closing Date or as of the effective date
      of
      the applicable Assignment and Assumption that (i) it is an Eligible Assignee;
      (ii) it has experience and expertise in the making of or investing in
      commitments, loans or investments such as the Commitments and Loans; and (iii)
      it will make or invest in its Commitments and Loans for its own account in
      the
      ordinary course and without a view to distribution of such Commitments and
      Loans
      within the meaning of the Securities Act or the Exchange Act, or other federal
      securities laws (it being understood that, subject to the provisions of this
      Section 10.04, the disposition of such Commitments and Loans or
      any interests therein shall at all times remain within its exclusive
      control).

     

     

    (i)  No
      Discharge, etc.  For greater certainty, and notwithstanding any of
      the foregoing, no assignment hereunder shall be or be deemed to be a discharge,
      rescission, extinguishment, novation, issue, repayment, advance, disposition
      or
      substitution of any Loan and any Loan so assumed shall continue to be the same
      obligation and not a new obligation.

     

    Section
      10.05  Survival
      of Agreement

     

    .  All
      covenants, agreements, representations and warranties made by the Loan Parties
      in the Loan Documents and in the certificates or other instruments delivered
      in
      connection with or pursuant to this Agreement or any other Loan Document shall
      be considered to have been relied upon by the other parties hereto and shall
      survive the execution and delivery of the Loan Documents and the making of
      any
      Loans and issuance of any Letters of Credit, regardless of any investigation
      made by any such other party or on its behalf and notwithstanding that the
      Agents, the Issuing Bank or any Lender may have had notice or knowledge of
      any
      Default or incorrect representation or warranty at the time any credit is
      extended hereunder, and shall continue in full force and effect as long as
      the
      principal of or any accrued interest on any Loan or any fee or any other amount
      payable under this Agreement is outstanding and unpaid or any Letter of Credit
      is outstanding and so long as the Commitments have not expired or
      terminated.  The provisions of Sections 2.12, 2.14,
2.15 and Article X (other than Section 10.12) shall survive
      and remain in full force and effect regardless of the consummation of the
      transactions contemplated hereby, the repayment of the Loans, the payment of
      the
      Reimbursement Obligations, the expiration or termination of the Letters of
      Credit and the Commitments or the termination of this Agreement or any provision
      hereof.

     

    Section
      10.06  Counterparts;
      Integration; Effectiveness

     

    .  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.  This
      Agreement and the other Loan Documents, and any separate letter agreements
      with
      respect to fees payable to the Administrative Agent, constitute the entire
      contract among the parties relating to the subject matter hereof and supersede
      any and all previous agreements and understandings, oral or written, relating
      to
      the subject matter hereof.  Except as provided in Section 4.01,
      this Agreement shall become effective when it shall have been executed by the
      Administrative Agent and when the Administrative Agent shall have received
      counterparts hereof that, when taken together, bear the signatures of each
      of
      the other parties hereto.  Delivery of an executed counterpart of a
      signature page of this Agreement by telecopier shall be effective as delivery
      of
      a manually executed counterpart of this Agreement.

     

    Section
      10.07  Severability

     

    .  Any
      provision of this Agreement held to be invalid, illegal or unenforceable in
      any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such invalidity, illegality or unenforceability without affecting the validity,
      legality and enforceability of the remaining provisions hereof; and the
      invalidity of a particular provision in a particular jurisdiction shall not
      invalidate such provision in any other jurisdiction.

     

    Section
      10.08  Right
      of Setoff

     

    .  If
      an Event of Default shall have occurred and be continuing, each Lender, the
      Issuing Bank, and each of their respective Affiliates is hereby authorized
      at
      any time and from time to time, to the fullest extent permitted by applicable
      Requirements of Law, to set off and apply any and all deposits (general or
      special, time or demand, provisional or final, in whatever currency) at any
      time
      held and other obligations (in whatever currency) at any time owing by such
      Lender, the Issuing Bank or any such Affiliate to or for the credit or the
      account of Borrower or any other Loan Party against any and all of the
      obligations of Borrower or such Loan Party now or hereafter existing under
      this
      Agreement or any other Loan Document to such Lender or the Issuing Bank,
      irrespective of whether or not such Lender or the Issuing Bank shall have made
      any demand under this Agreement or any other Loan Document and although such
      obligations of Borrower or such Loan Party may be contingent or unmatured or
      are
      owed to a branch or office of such Lender or the Issuing Bank different from
      the
      branch or office holding such deposit or obligated on such
      indebtedness.  The rights of each Lender, the Issuing Bank and their
      respective Affiliates under this Section are in addition to other rights and
      remedies (including other rights of setoff) that such Lender, the Issuing Bank
      or their respective Affiliates may have.  Each Lender and the Issuing
      Bank agrees to notify Borrower and the Administrative Agent promptly after
      any
      such setoff and application; provided that the failure to give such
      notice shall not affect the validity of such setoff and
      application.

     

    Section
      10.09  Governing
      Law; Jurisdiction; Consent to Service of
      Process

     

    (a)  Governing
      Law.  This Agreement shall be construed in accordance with and
      governed by the law of the State of New York, without regard to conflicts of
      law
      principles that would require the application of the laws of another
      jurisdiction.

     

     

    (b)  Submission
      to Jurisdiction.  Each Loan Party hereby irrevocably and
      unconditionally submits, for itself and its property, to the nonexclusive
      jurisdiction of the Supreme Court of the State of New York sitting in New York
      County and of the United States District Court of the Southern District of
      New
      York, and any appellate court from any thereof, in any action or proceeding
      arising out of or relating to any Loan Document, or for recognition or
      enforcement of any judgment, and each of the parties hereto hereby irrevocably
      and unconditionally agrees that all claims in respect of any such action or
      proceeding may be heard and determined in such New York State court or, to
      the
      fullest extent permitted by applicable law, in such Federal
      court.  Each of the parties hereto agrees that a final judgment in any
      such action or proceeding shall be conclusive and may be enforced in other
      jurisdictions by suit on the judgment or in any other manner provided by
      law.  Nothing in this Agreement or any other Loan Document shall
      affect any right that the Administrative Agent, the Issuing Bank or any Lender
      may otherwise have to bring any action or proceeding relating to this Agreement
      or any other Loan Document against any Loan Party or its properties in the
      courts of any jurisdiction.

     

     

    (c)  Waiver
      of Venue.  Each Loan Party hereby irrevocably and unconditionally
      waives, to the fullest extent permitted by applicable Requirements of Law,
      any
      objection which it may now or hereafter have to the laying of venue of any
      suit,
      action or proceeding arising out of or relating to this Agreement or any other
      Loan Document in any court referred to in Section
      10.09(b).  Each of the parties hereto hereby irrevocably waives,
      to the fullest extent permitted by applicable Requirements of Law, the defense
      of an inconvenient forum to the maintenance of such action or proceeding in
      any
      such court.

     

     

    (d)  Service
      of Process.  Each party hereto irrevocably consents to service of
      process in any action or proceeding arising out of or relating to any Loan
      Document, in the manner provided for notices (other than telecopier, email
      or
      other electronic transmission) in Section 10.01.  Nothing in
      this Agreement or any other Loan Document will affect the right of any party
      hereto to serve process in any other manner permitted by applicable Requirements
      of Law.

     

    Section
      10.10  Waiver
      of Jury Trial

     

    .  Each
      Loan Party hereby waives, to the fullest extent permitted by applicable
      Requirements of Law, any right it may have to a trial by jury in any legal
      proceeding directly or indirectly arising out of or relating to this Agreement,
      any other Loan Document or the transactions contemplated hereby (whether based
      on contract, tort or any other theory).  Each party hereto (a)
      certifies that no representative, agent or attorney of any other party has
      represented, expressly or otherwise, that such other party would not, in the
      event of litigation, seek to enforce the foregoing waiver and (b) acknowledges
      that it and the other parties hereto have been induced to enter into this
      Agreement by, among other things, the mutual waivers and certifications in
      this
      Section.

     

    Section
      10.11  Headings

     

    .  Article
      and Section headings and the Table of Contents used herein are for convenience
      of reference only, are not part of this Agreement and shall not affect the
      construction of, or be taken into consideration in interpreting, this
      Agreement.

     

    Section
      10.12  Treatment
      of Certain Information; Confidentiality

     

    .  Each
      of the Administrative Agent, the Lenders and the Issuing Bank agrees to maintain
      the confidentiality of the Information (as defined below), except that
      Information may be disclosed (a) to its Affiliates and to its and its
      Affiliates’ respective partners, trustees, directors, officers, employees,
      agents, advisors and other representatives (it being understood that the persons
      to whom such disclosure is made will be informed of the confidential nature
      of
      such Information and instructed to keep such Information confidential), (b)
      to
      the extent requested by any Governmental Authority or regulatory authority
      (including any self-regulatory authority, such as the National Association
      of
      Insurance Commissioners), (c) to the extent required by applicable Requirements
      of Law or by any subpoena or similar legal process, (d) to any other party
      hereto, (e) in connection with the exercise of any remedies hereunder or under
      any other Loan Document or any action or proceeding relating to this Agreement
      or any other Loan Document or the enforcement of rights hereunder or thereunder,
      (f) subject to an agreement containing provisions substantially the same as
      those of this Section 10.12, to (i) any assignee of or Participant in, or
      any prospective assignee of or Participant in, any of its rights or obligations
      under this Agreement, (ii) any actual or prospective counterparty (or its
      advisors) to any swap or derivative transaction relating to Borrower and its
      obligations or (iii) any rating agency for the purpose of obtaining a credit
      rating applicable to any Lender, (g) with the consent of Borrower or (h) to
      the
      extent such Information (x) becomes publicly available other than as a result
      of
      a breach of this Section or (y) becomes available to the Administrative Agent,
      any Lender, the Issuing Bank or any of their respective Affiliates on a
      nonconfidential basis from a source other than Borrower.  For purposes
      of this Section, “Information” means all information received
      from Borrower or any of its Subsidiaries relating to Borrower or any of its
      Subsidiaries or any of their respective businesses, other than any such
      information that is available to the Administrative Agent, any Lender or the
      Issuing Bank on a nonconfidential basis prior to disclosure by Borrower or
      any
      of its Subsidiaries; provided that, in the case of information received
      from Borrower or any of its Subsidiaries after the date hereof, such information
      is clearly identified at the time of delivery as confidential.  Any
      person required to maintain the confidentiality of Information as provided
      in
      this Section shall be considered to have complied with its obligation to do
      so
      if such person has exercised the same degree of care to maintain the
      confidentiality of such Information as such person would accord to its own
      confidential information.

     

    Section
      10.13  USA
      PATRIOT Act Notice

     

    .  Each
      Lender that is subject to the Act (as hereinafter defined) and the
      Administrative Agent (for itself and not on behalf of any Lender) hereby
      notifies Borrower that pursuant to the requirements of the USA PATRIOT Act
      (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information
      that identifies Borrower, which information includes the name, address and
      tax
      identification number of Borrower and other information regarding Borrower
      that
      will allow such Lender or the Administrative Agent, as applicable, to identify
      Borrower in accordance with the Act.  This notice is given in
      accordance with the requirements of the Act and is effective as to the Lenders
      and the Administrative Agent.

     

    Section
      10.14  Interest
      Rate Limitation

     

    .  Notwithstanding
      anything herein to the contrary, if at any time the interest rate applicable
      to
      any Loan, together with all fees, charges and other amounts which are treated
      as
      interest on such Loan under applicable Requirements of Law (collectively, the
      “Charges”), shall exceed the maximum lawful rate (the
“Maximum Rate”) which may be contracted for, charged,
      taken,
      received or reserved by the Lender holding such Loan in accordance with
      applicable Requirements of Law, the rate of interest payable in respect of
      such
      Loan hereunder, together with all Charges payable in respect thereof, shall
      be
      limited to the Maximum Rate and, to the extent lawful, the interest and Charges
      that would have been payable in respect of such Loan but were not payable as
      a
      result of the operation of this Section shall be cumulated and the interest
      and
      Charges payable to such Lender in respect of other Loans or periods shall be
      increased (but not above the Maximum Rate therefor) until such cumulated amount,
      together with interest thereon at the Federal Funds Effective Rate to the date
      of repayment, shall have been received by such Lender.

     

    Section
      10.15  Lender
      Addendum

     

    .  Each
      Lender to become a party to this Agreement on the date hereof shall do so by
      delivering to the Administrative Agent a Lender Addendum duly executed by such
      Lender, Borrower and the Administrative Agent.

     

    Section
      10.16  Obligations
      Absolute

     

    .  To
      the fullest extent permitted by applicable Requirements of Law, all obligations
      of the Loan Parties hereunder shall be absolute and unconditional irrespective
      of:

     

     

    (a)  any
      bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
      liquidation or the like of any Loan Party;

     

     

    (b)  any
      lack
      of validity or enforceability of any Loan Document or any other agreement or
      instrument relating thereto against any Loan Party;

     

     

    (c)  any
      change in the time, manner or place of payment of, or in any other term of,
      all
      or any of the Obligations, or any other amendment or waiver of or any consent
      to
      any departure from any Loan Document or any other agreement or instrument
      relating thereto;

     

     

    (d)  any
      exchange, release or non-perfection of any other Collateral, or any release
      or
      amendment or waiver of or consent to any departure from any guarantee, for
      all
      or any of the Obligations;

     

     

    (e)  any
      exercise or non-exercise, or any waiver of any right, remedy, power or privilege
      under or in respect hereof or any Loan Document; or

     

     

    (f)  any
      other
      circumstances which might otherwise constitute a defense available to, or a
      discharge of, the Loan Parties.

     

    Section
      10.17  Dollar
      Equivalent Calculations

     

    .  For
      purposes of this Agreement, the Dollar Equivalent of each Loan that is an
      Alternate Currency Loan and the Dollar Equivalent of the stated amount of each
      Letter of Credit that is an Alternate Currency Letter of Credit shall be
      calculated on the date when any such Loan is made, such Letter of Credit is
      issued, on the first Business Day of each month and at such other times as
      designated by the Administrative Agent.  Such Dollar Equivalent shall
      remain in effect until the same is recalculated by the Administrative Agent
      as
      provided above and notice of such recalculation is received by Borrower, it
      being understood that until such notice of such recalculation is received,
      the
      Dollar Equivalent shall be that Dollar Equivalent as last reported to Borrower
      by the Administrative Agent.  The Administrative Agent shall promptly
      notify Borrower and the Lenders of each such determination of the Dollar
      Equivalent.

     

    Section
      10.18  Judgment
      Currency

     

    (a)  Borrower’s
      obligation hereunder and under the other Loan Documents to make payments in
      the
      applicable Approved Currency (pursuant to such obligation, 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
      or the respective Lender of the full amount of the Obligation Currency expressed
      to be payable to the Administrative Agent or such Lender under this Agreement
      or
      the other Loan Documents.  If, for the purpose of obtaining or
      enforcing judgment against Borrower 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 Relevant Currency
      Equivalent, 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 Business Day
      immediately preceding the day on which the judgment is given (such Business
      Day
      being hereinafter referred to as the “Judgment Currency Conversion
      Date”).

     

     

    (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, 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 of exchange prevailing
      on the Judgment Currency Conversion Date.

     

     

    (c)  For
      purposes of determining the Relevant Currency Equivalent or any other rate
      of
      exchange for this Section 10.18, such amounts shall include any premium
      and costs payable in connection with the purchase of the Obligation
      Currency.

     

    Section
      10.19  Euro

     

    (a)  If
      at any
      time that a GBP Loan is outstanding, the GBP is fully replaced as the lawful
      currency of the United Kingdom (the “Issuing Country”) by the
      Euro so that all payments are to be made in the Issuing Country in Euros and
      not
      in GBP, then such GBP Loan shall be automatically converted into a Euro Loan
      in
      a principal amount equal to the amount of Euros into which the principal amount
      of such GBP Loan would be converted pursuant to law and thereafter no further
      GBP Loans will be available.

     

     

    (b)  Borrower
      shall from time to time, at the request of any Lender, pay to such Lender the
      amount of any losses, damages, liabilities, claims, reduction in yield,
      additional expense, increased cost, reduction in any amount payable, reduction
      in the effective return of its capital, the decrease or delay in the payment
      of
      interest or any other return forgone by such Lender or its Affiliates as a
      result of the tax or currency exchange resulting from the introduction of,
      changeover to or operation of the Euro in any applicable nation or Eurocurrency
      market.

     

    Section
      10.20  Special
      Provisions Relating to Currencies Other Than
      Dollars

     

    (a)  All
      funds
      to be made available to Administrative Agent pursuant to this Agreement in
      Euros
      or GBP shall be made available to Administrative Agent in immediately available,
      freely transferable, cleared funds to such account with such bank in such
      principal financial center in such Participating Member State (or in London)
      as
      Administrative Agent shall from time to time nominate for this
      purpose.

     

     

    (b)  In
      relation to the payment of any amount denominated in Euros or GBP,
      Administrative Agent shall not be liable to Borrower or any of the Lenders
      for
      any delay, or the consequences of any delay, in the crediting to any account
      of
      any amount required by this Agreement to be paid by Administrative Agent if
      Administrative Agent shall have taken all relevant and necessary steps to
      achieve, on the date required by this Agreement, the payment of such amount
      in
      immediately available, freely transferable, cleared funds (in Euros or GBP)
      to
      the account with the bank in the principal financial center in the Participating
      Member State which Borrower or, as the case may be, any Lender shall have
      specified for such purpose.  In this Section 10.20(b),
“all relevant steps” means all such steps as may be prescribed
      from time to time by the regulations or operating procedures of such clearing
      or
      settlement system as Administrative Agent may from time to time determine for
      the purpose of clearing or settling payments of Euros or
      GBP.  Furthermore, and without limiting the foregoing, Administrative
      Agent shall not be liable to Borrower or any of the Lenders with respect to
      the
      foregoing matters in the absence of its gross negligence or willful misconduct
      (as determined by a court of competent jurisdiction in a final and
      non-appealable decision or pursuant to a binding arbitration award or as
      otherwise agreed in writing by the affected parties).

     

     

    [Signature
      pages follow]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

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

     

     

    ITRON,
      INC.

     

    By:                   /s/
      Steven M. Helmbrecht

     

    Name:
      Steven M.
      Helmbrecht

     

    Title:
      Senior Vice President and
      Chief Financial Officer

     

    ITRON
      INTERNATIONAL, INC.

     

    By:  /s/
      Steven M.
      Helmbrecht                                                                

     

           Name:
      Steven M. Helmbrecht

     

           Title:
      President and Treasurer

     

    ITRON
      ENGINEERING SERVICES, INC.

     

    By:  /s/
      Steven M.
      Helmbrecht                                                                

     

           Name:

     

           Title:
      Vice President

     

    ITRON
      BRAZIL I, LLC

     

    By:  /s/
      Joseph P.
      Ball                                                                

     

           Name:
      Joseph P. Ball

     

           Title:
      Manager

     

    ITRON
      BRAZIL II, LLC

     

    By:  /s/
      Joseph P.
      Ball                                                                

     

           Name:
      Joseph P. Ball

     

           Title:
      Manager

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    UBS
      SECURITIES LLC, as Arranger and Syndication Agent

     

    By:                   /s/
      Richard L.
      Tavrow                                              

     

    Name:
      Richard L. Tavrow

     

    Title:
      Director Banking Products
      Services, US

     

    By:                   /s/
      Mary E.
      Evans                                              

     

    Name:
      Mary E. Evans

     

    Title:
      Associate Director Banking
      Products Services,US

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION, as an Issuing Bank and as Swingline Lender,
      Administrative Agent and Collateral Agent

     

    By:                   /s/
      Tom
      Beil                                              

     

    Name:  Tom
      Beil

     

    Title:  Vice
      President

     

    MIZUHO
      CORPORATE BANK, LTD., as an Issuing Bank and Documentation Agent

     

    By:                   /s/
      K.  Andrews                                              

     

    Name:
      K. Andrews

     

    Title:
      Director

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

              

                  EXHIBIT
            4.1      
    

      

    

    

     

    Annex
      I

     

     

    Applicable
      Margin

     

    
      	 	
              Dollar
                Revolving Loans

            	
              Euro
                Revolving Loans

            	
              GBP
                Revolving Loans

            	
              Dollar
                Term Loans

            	
              Euro
                Term Loans

            	
              GBP
                Term Loans

            	
              Swingline
                Loans

            	 
	
              Total

              Leverage
                Ratio

            	
              Eurocurrency

            	
              ABR

            	
              EURIBOR

            	
              Eurocurrency

            	
              Eurocurrency

            	
              ABR

            	
              Eurocurrency

            	
              EURIBOR

            	
              ABR

            	
              Applicable
                Fee

            
	 	 	 	 	 	 	 	 	 	 	 
	
              Level
                I

              >
                4.50:1.0

            	
              2.00%

            	
              1.00%

            	
              2.00%

            	
              2.00%

            	
              2.00%

            	
              1.00%

            	
              2.00%

            	
              2.00%

            	
              1.00%

            	
              0.50%

            
	 	 	 	 	 	 	 	 	 	 	 
	
              Level
                II

              ≤
                4.50:1.0 but

              ≥
                3.75:1.0

            	
              1.75%

            	
              0.75%

            	
              1.75%

            	
              1.75%

            	
              1.75%

            	
              0.75%

            	
              1.75%

            	
              1.75%

            	
              0.75%

            	
              0.375%

            
	 	 	 	 	 	 	 	 	 	 	 
	
              Level
                III

              <
                3.75:1.0 but

              ≥
                2.75:1.0

            	
              1.50%

            	
              0.50%

            	
              1.50%

            	
              1.50%

            	
              1.75%

            	
              0.75%

            	
              1.75%

            	
              1.75%

            	
              0.50%

            	
              0.375%

            
	 	 	 	 	 	 	 	 	 	 	 
	
              Level
                IV

              <
                2.75:1.0

            	
              1.25%

            	
              0.25%

            	
              1.25%

            	
              1.25%

            	
              1.75%

            	
              0.75%

            	
              1.75%

            	
              1.75%

            	
              0.25%

            	
              0.375%

            

    

     

    Each
      change in the Applicable Margin or Applicable Fee resulting from a change in
      the
      Total Leverage Ratio shall be effective with respect to all Revolving Loans
      and
      Letters of Credit outstanding on and after the date of delivery to the
      Administrative Agent of the financial statements and certificates required
      by
Section 5.01(a) or (b) and Section 5.01(c), respectively,
      indicating such change until the date immediately preceding the next date of
      delivery of such financial statements and certificates indicating another such
      change.  Notwithstanding the foregoing, the Leverage Ratio shall be
      deemed to be in Level I (i) at any time during which Borrower has failed to
      deliver the financial statements and certificates required by Section
      5.01(a) or (b) and Section 5.01(c), respectively, and (ii) at
      any time during the existence of an Event of Default.

     

     

    In
      the
      event that any financial statement delivered pursuant to Section 5.01(a)
      or (b) or any Compliance Certificate is inaccurate (regardless of whether
      this Agreement or the Commitments are in effect when such inaccuracy is
      discovered), and such inaccuracy, if corrected, would have led to the
      application of a higher Applicable Margin for any period (an “Applicable
      Period”) than the Applicable Margin applied for such Applicable Period,
      then (i) Borrower shall immediately deliver to the Administrative Agent a
      corrected financial statement and a corrected Compliance Certificate for such
      Applicable Period, (ii) the Applicable Margin shall be determined based on
      the
      corrected Compliance Certificate for such Applicable Period, and (iii) Borrower
      shall immediately pay to the Administrative Agent the accrued additional
      interest owing as a result of such increased Applicable Margin for such
      Applicable Period, which payment shall be promptly applied by the Administrative
      Agent in accordance with Section 2.14.  None of the foregoing
      shall limit the rights of the Administrative Agent or the Lenders with respect
      to Section 2.06(d) or Article VIII.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

              

                  EXHIBIT
            4.1      
    

      

    

    

     

    Annex
      II

     

     

    Amortization
      Table

     

    
      	
              Date

            	
              Dollar
                Term Loan Amount

            	
              Euro
                Term Loan Amount

            	
              GBP
                Term Loan Amount

            
	 	 	 	 
	
              June
                30, 2007

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2007

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2007

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2008

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2008

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2008

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2008

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2009

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2009

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2009

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2009

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2010

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2010

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2010

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2010

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2011

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2011

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2011

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2011

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2012

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2012

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2012

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2012

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2013

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              June
                30, 2013

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              September
                30, 2013

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              December
                31, 2013

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              March
                31, 2014

            	
              $1,512,750

            	
              €837,500

            	
              £125,000

            
	 	 	 	 
	
              Term
                Loan Maturity Date

            	
              Remaining
                outstanding principal

            	
              Remaining
                outstanding principal

            	
              Remaining
                outstanding principal

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Annex
      III

     

     

    Mandatory
      Cost Formula

     

    
      	
              1.  

            	
              The
                Mandatory Cost is an addition to the interest rate to compensate
                Lenders
                for the cost of compliance with (a) the requirements of the Bank
                of
                England and/or the Financial Services Authority (or, in either case,
                any
                other authority which replaces all or any of its functions) or (b)
                the
                requirements of the European Central
                Bank.

            

    

     

    
      	
              2.  

            	
              On
                the first day of each Interest Period (or as soon as possible thereafter)
                the Administrative Agent shall calculate, as a percentage rate, a
                rate
                (the “Additional Cost Rate”) for each Lender, in
                accordance with the paragraphs set out below.  The Mandatory
                Cost will be calculated by the Administrative Agent as a weighted
                average
                of the Lenders’ Additional Cost Rates (weighted in proportion to the
                percentage participation of each Lender in the relevant Loan) and
                will be
                expressed as a percentage rate per
                annum.

            

    

     

    
      	
              3.  

            	
              The
                Additional Cost Rate for any Lender lending from a Facility Office
                in a
                Participating Member State will be the percentage notified by that
                Lender
                to the Administrative Agent.  This percentage will be certified
                by that Lender in its notice to the Administrative Agent to be its
                reasonable determination of the cost (expressed as a percentage of
                that
                Lender’s participation in all Loans made from that Facility Office) of
                complying with the minimum reserve requirements of the European Central
                Bank in respect of loans made from that Facility
                Office.

            

    

     

    
      	
              4.  

            	
              The
                Additional Cost Rate for any Lender lending from a Facility Office
                in the
                United Kingdom will be calculated by the Administrative Agent as
                follows:

            

    

     

    
      	
              (a)  

            	
              in
                relation to a GBP Loan:

            

    

     

    [Missing
      Graphic Reference] per cent. per annum

    
      	
              (b)  

            	
              in
                relation to a Loan in any currency other than
                GBP:

            

    

     

    [Missing
      Graphic Reference] per cent. per annum.

    Where:

     

    
      	
               

            	
              A

            	
              is
                the percentage of Eligible Liabilities (assuming these to be in excess
                of
                any stated minimum) which that Lender is from time to time required
                to
                maintain as an interest free cash ratio deposit with the Bank of
                England
                to comply with cash ratio
                requirements.

            

    

     

    
      	
               

            	
              B

            	
              is
                the percentage rate of interest (excluding the Applicable Margin
                and the
                Mandatory Cost and, if the Loan is an Unpaid Sum, the additional
                rate of
                interest specified in Section 2.06(d)) payable for the relevant
                Interest Period on the Loan.

            

    

     

    
      	
               

            	
              C

            	
              is
                the percentage (if any) of Eligible Liabilities which that Lender
                is
                required from time to time to maintain as interest bearing Special
                Deposits with the Bank of England.

            

    

     

    
      	
               

            	
              D

            	
              is
                the percentage rate per annum payable by the Bank of England to the
                Administrative Agent (or such other bank as may be designated by
                the
                Administrative Agent in consultation with Borrower) on interest bearing
                Special Deposits.

            

    

     

    
      	
               

            	
              E

            	
              is
                designed to compensate Lenders for amounts payable under the Fees
                Rules
                and is calculated by the Administrative Agent as being the average
                of the
                most recent rates of charge supplied by the Reference Banks to the
                Administrative Agent pursuant to paragraph 7 below and expressed
                in GBP
                per £1,000,000.

            

    

     

    
      	
              5.  

            	
              For
                the purposes of this Schedule:

            

    

     

    
      	
              (a)  

            	
              “Eligible
                Liabilities” and “Special Deposits” have the
                meanings given to them from time to time under or pursuant to the
                Bank of
                England Act 1998 or (as may be appropriate) by the Bank of
                England;

            

    

     

    
      	
              (b)  

            	
              “Facility
                Office” means the office or offices notified by a Lender to the
                Administrative Agent in writing on or before the date it becomes
                a Lender
                (or, following that date, by not less than five Business Days’ written
                notice) as the office or offices through which it will perform its
                obligations under this Agreement;

            

    

     

    
      	
              (c)  

            	
              “Fees
                Rules” means the rules on periodic fees contained in the FSA
                Supervision Manual or such other law or regulation as may be in force
                from
                time to time in respect of the payment of fees for the acceptance
                of
                deposits;

            

    

     

    
      	
              (d)  

            	
              “Fee
                Tariffs” means the fee tariffs specified in the Fees Rules under
                the activity group A.1 Deposit acceptors (ignoring any minimum fee
                or zero
                rated fee required pursuant to the Fees Rules but taking into account
                any
                applicable discount rate);

            

    

     

    
      	
              (e)  

            	
              “Reference
                Banks” means, in relation to each of the LIBOR Rate and the
                EURIBOR Rate and Mandatory Cost, the principal office in Los Angeles,
                California of Wells Fargo Bank, National Association, or such other
                bank
                or banks as may be designated by the Administrative Agent in consultation
                with Borrower;

            

    

     

    
      	
              (f)  

            	
              “Tariff
                Base” has the meaning given to it in, and will be calculated in
                accordance with, the Fees Rules;
                and

            

    

     

    
      	
              (g)  

            	
              “Unpaid
                Sum” means any sum due and payable but unpaid by any Loan Party
                under the Loan Documents.

            

    

     

    
      	
              6.  

            	
              In
                application of the above formulae, A, B, C and D will be included
                in the
                formulae as percentages (i.e. 5 per cent. will be included in the
                formula
                as 5 and not as 0.05).  A negative result obtained by
                subtracting D from B shall be taken as zero.  The resulting
                figures shall be rounded to four decimal
                places.

            

    

     

    
      	
              7.  

            	
              If
                requested by the Administrative Agent, each Reference Bank shall,
                as soon
                as practicable after publication by the Financial Services Authority,
                supply to the Administrative Agent, the rate of charge payable by
                that
                Reference Bank to the Financial Services Authority pursuant to the
                Fees
                Rules in respect of the relevant financial year of the Financial
                Services
                Authority (calculated for this purpose by that Reference Bank as
                being the
                average of the Fee Tariffs applicable to that Reference Bank for
                that
                financial year) and expressed in pounds per £1,000,000 of the Tariff Base
                of that Reference Bank.

            

    

     

    
      	
              8.  

            	
              Each
                Lender shall supply any information required by the Administrative
                Agent
                for the purpose of calculating its Additional Cost Rate.  In
                particular, but without limitation, each Lender shall supply the
                following
                information on or prior to the date on which it becomes a
                Lender:

            

    

     

    
      	
              (a)  

            	
              the
                jurisdiction of its Facility Office;
                and

            

    

     

    
      	
              (b)  

            	
              any
                other information that the Administrative Agent may reasonably require
                for
                such purpose.

            

    

     

    Each
      Lender shall promptly notify the Administrative Agent of any change to the
      information provided by it pursuant to this paragraph.

     

    
      	
              9.  

            	
              The
                percentages of each Lender for the purpose of A and C above and the
                rates
                of charge of each Reference Bank for the purpose of E above shall
                be
                determined by the Administrative Agent based upon the information
                supplied
                to it pursuant to paragraphs 7 and 8 above and on the assumption
                that,
                unless a Lender notifies the Administrative Agent to the contrary,
                each
                Lender’s obligations in relation to cash ratio deposits and Special
                Deposits are the same as those of a typical bank from its jurisdiction
                of
                incorporation with a Facility Office in the same jurisdiction as
                its
                Facility Office.

            

    

     

    
      	
              10.  

            	
              The
                Administrative Agent shall have no liability to any person if such
                determination results in an Additional Cost Rate which over or under
                compensates any Lender and shall be entitled to assume that the
                information provided by any Lender or Reference Bank pursuant to
                paragraphs 3, 7 and 8 above is true and correct in all
                respects.

            

    

     

    
      	
              11.  

            	
              The
                Administrative Agent shall distribute the additional amounts received
                as a
                result of the Mandatory Cost to the Lenders on the basis of the Additional
                Cost Rate for each Lender based on the information provided by each
                Lender
                and each Reference Bank pursuant to paragraphs 3, 7 and 8
                above.

            

    

     

    
      	
              12.  

            	
              Any
                determination by the Administrative Agent pursuant to this Schedule
                in
                relation to a formula, the Mandatory Cost, an Additional Cost Rate
                or any
                amount payable to a Lender shall, in the absence of manifest error,
                be
                conclusive and binding on all parties to this
                Agreement.

            

    

     

    
      	
              13.  

            	
              The
                Administrative Agent may from time to time, after consultation with
                Borrower and the Lenders, determine and notify to all parties to
                this
                Agreement any amendments which are required to be made to this Annex
                III in order to comply with any change in law, regulation or any
                requirements from time to time imposed by the Bank of England, the
                Financial Services Authority or the European Central Bank (or, in
                any
                case, any other authority which replaces all or any of its functions)
                and
                any such determination shall, in the absence of manifest error, be
                conclusive and binding on all parties to this
                Agreement.ex_4-2.htm

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

              

                  EXHIBIT
            4.2      
      

                  
      
      

                  EXHIBIT
            M      
      

                  TO
            CREDIT
            AGREEMENT      
    

      

    

    
 

     

    SECURITY
      AGREEMENT

     

    By

     

    ITRON,
      INC.,

    as
      Borrower

     

    and

     

    THE
      SUBSIDIARY GUARANTORS PARTY HERETO

     

    and

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

    ______________________

     

    Dated
      as
      of April 18, 2007

    
      

       

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        	
                TABLE
                  OF CONTENTS

              
	
                Page 
                  

              
	
                PREAMBLE

              	 	
                1

              
	
                RECITALS

              	 	
                1

              
	
                AGREEMENT

              	 	
                2

              
	
                ARTICLE
                  I

              
	 	 	 
	
                DEFINITIONS
                  AND INTERPRETATION

              
	
                SECTION
                  1.1.

              	
                DEFINITIONS

              	
                2

              
	
                SECTION
                  1.2.

              	
                INTERPRETATION

              	
                8

              
	
                SECTION
                  1.3.

              	
                RESOLUTION
                  OF DRAFTING AMBIGUITIES

              	
                8

              
	
                SECTION
                  1.4.

              	
                PERFECTION
                  CERTIFICATE

              	
                8

              
	
                ARTICLE
                  II

              
	 	 	 
	
                GRANT
                  OF SECURITY AND SECURED OBLIGATIONS

              
	
                SECTION
                  2.1.

              	
                GRANT
                  OF SECURITY INTEREST

              	
                9

              

      

      
        
          	
                  SECTION
                    2.2.

                	
                  FILINGS

                	
                  10

                

        

      

      
        	
                ARTICLE
                  III

              
	 	 	 
	
                PERFECTION;
                  SUPPLEMENTS; FURTHER ASSURANCES;USE
                  OF PLEDGED COLLATERAL

              
	
                SECTION
                  3.1.

              	
                DELIVERY
                  OF CERTIFICATED SECURITIES COLLATERAL

              	
                10

              
	
                SECTION
                  3.2.

              	
                PERFECTION
                  OF UNCERTIFICATED SECURITIES COLLATERAL

              	
                11

              
	
                SECTION
                  3.3.

              	
                FINANCING
                  STATEMENTS AND OTHER FILINGS; MAINTENANCE OF PERFECTED SECURITY
                  INTEREST

              	
                11

              
	
                SECTION
                  3.4.

              	
                OTHER
                  ACTIONS

              	
                12

              
	
                SECTION
                  3.5.

              	
                JOINDER
                  OF ADDITIONAL SUBSIDIARY GUARANTORS

              	
                15

              
	
                SECTION
                  3.6.

              	
                SUPPLEMENTS;
                  FURTHER ASSURANCES

              	
                15

              
	
                ARTICLE
                  IV

              
	 	 	 
	
                REPRESENTATIONS,
                  WARRANTIES AND COVENANTS

              
	
                SECTION
                  4.1.

              	
                TITLE

              	
                16

              
	
                SECTION
                  4.2.

              	
                VALIDITY
                  OF SECURITY INTEREST

              	
                16

              
	
                SECTION
                  4.3.

              	
                DEFENSE
                  OF CLAIMS; TRANSFERABILITY OF PLEDGED COLLATERAL

              	
                16

              
	
                SECTION
                  4.4.

              	
                OTHER
                  FINANCING STATEMENTS

              	
                16

              
	
                SECTION
                  4.5.

              	
                LOCATION
                  OF INVENTORY AND EQUIPMENT.

              	
                16

              
	
                SECTION
                  4.6.

              	
                DUE
                  AUTHORIZATION AND ISSUANCE

              	
                17

              
	
                SECTION
                  4.7.

              	
                CONSENTS,
                  ETC.

              	
                17

              
	
                SECTION
                  4.8.

              	
                PLEDGED
                  COLLATERAL

              	
                17

              
	
                SECTION
                  4.9.

              	
                INSURANCE

              	
                17

              
	
                ARTICLE
                  V

              
	 	 	 
	
                CERTAIN
                  PROVISIONS CONCERNING SECURITIES COLLATERAL

              
	
                SECTION
                  5.1.

              	
                PLEDGE
                  OF ADDITIONAL SECURITIES COLLATERAL

              	
                17

              
	
                SECTION
                  5.2.

              	
                VOTING
                  RIGHTS; DISTRIBUTIONS; ETC.

              	
                18

              
	
                SECTION
                  5.3.

              	
                DEFAULTS,
                  ETC

              	
                19

              
	
                SECTION
                  5.4.

              	
                CERTAIN
                  AGREEMENTS OF PLEDGORS AS ISSUERS AND HOLDERS OF EQUITY
                  INTERESTS

              	
                19

              
	
                ARTICLE
                  VI

              
	 	 	 
	
                CERTAIN
                  PROVISIONS CONCERNING INTELLECTUAL PROPERTY
                  COLLATERAL

              
	
                SECTION
                  6.1.

              	
                GRANT
                  OF INTELLECTUAL PROPERTY LICENSE

              	
                19

              
	
                SECTION
                  6.2.

              	
                PROTECTION
                  OF COLLATERAL AGENT’S SECURITY

              	
                20

              
	
                SECTION
                  6.3.

              	
                AFTER-ACQUIRED
                  PROPERTY

              	
                20

              
	
                SECTION
                  6.4.

              	
                LITIGATION

              	
                21

              
	
                ARTICLE
                  VII

              
	 	 	 
	
                CERTAIN
                  PROVISIONS CONCERNING RECEIVABLES

              
	
                SECTION
                  7.1.

              	
                MAINTENANCE
                  OF RECORDS

              	
                21

              
	
                SECTION
                  7.2.

              	
                MODIFICATION
                  OF TERMS, ETC

              	
                21

              
	
                SECTION
                  7.3.

              	
                COLLECTION

              	
                22

              
	
                ARTICLE
                  VIII

              
	 	 	 
	
                TRANSFERS

              
	
                SECTION
                  8.1.

              	
                TRANSFERS
                  OF PLEDGED COLLATERAL

              	
                22

              
	
                ARTICLE
                  IX

              
	 	 	 
	
                REMEDIES

              
	
                SECTION
                  9.1.

              	
                REMEDIES

              	
                22

              
	
                SECTION
                  9.2.

              	
                NOTICE
                  OF SALE

              	
                24

              
	
                SECTION
                  9.3.

              	
                WAIVER
                  OF NOTICE AND CLAIMS

              	
                24

              
	
                SECTION
                  9.4.

              	
                CERTAIN
                  SALES OF PLEDGED COLLATERAL

              	
                24

              
	
                SECTION
                  9.5.

              	
                NO
                  WAIVER; CUMULATIVE REMEDIES

              	
                26

              
	
                SECTION
                  9.6.

              	
                CERTAIN
                  ADDITIONAL ACTIONS REGARDING INTELLECTUAL PROPERTY

              	
                26

              
	
                ARTICLE
                  X

              
	 	 	 
	
                APPLICATION
                  OF PROCEEDS

              

      

      
        	
                SECTION
                  10.1.

              	
                APPLICATION
                  OF PROCEEDS

              	
                26

              

      

      
        	
                ARTICLE
                  XI

              
	 	 	 
	
                MISCELLANEOUS

              

      

      
        	
                SECTION
                  11.1.

              	
                CONCERNING
                  COLLATERAL AGENT

              	
                27

              
	
                SECTION
                  11.2.

              	
                COLLATERAL
                  AGENT MAY PERFORM; COLLATERAL AGENT APPOINTED
                  ATTORNEY-IN-FACT

              	
                28

              
	
                SECTION
                  11.3.

              	
                CONTINUING
                  SECURITY INTEREST; ASSIGNMENT

              	
                28

              
	
                SECTION
                  11.4.

              	
                TERMINATION;
                  RELEASE

              	
                29

              
	
                SECTION
                  11.5.

              	
                MODIFICATION
                  IN WRITING

              	
                29

              
	
                SECTION
                  11.6.

              	
                NOTICES

              	
                29

              
	
                SECTION
                  11.7.

              	
                GOVERNING
                  LAW, CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF
                  JURY
                  TRIAL

              	
                29

              
	
                SECTION
                  11.8.

              	
                SEVERABILITY
                  OF PROVISIONS

              	
                29

              
	
                SECTION
                  11.9.

              	
                EXECUTION
                  IN COUNTERPARTS

              	
                29

              
	
                SECTION
                  11.10.

              	
                BUSINESS
                  DAYS

              	
                30

              
	
                SECTION
                  11.11.

              	
                NO
                  CREDIT FOR PAYMENT OF TAXES OR IMPOSITION

              	
                30

              
	
                SECTION
                  11.12.

              	
                NO
                  CLAIMS AGAINST COLLATERAL AGENT

              	
                30

              
	
                SECTION
                  11.13.

              	
                NO
                  RELEASE

              	
                30

              
	
                SECTION
                  11.14.

              	
                OBLIGATIONS
                  ABSOLUTE

              	
                30

              
	 

      

      
        	
                SIGNATURES

              	 	
                S-1

              
	
                EXHIBIT
                  1

              	
                Form
                  of Issuer’s Acknowledgment

              	 
	
                EXHIBIT
                  2

              	
                Form
                  of Securities Pledge Amendment

              	 
	
                EXHIBIT
                  3

              	
                Form
                  of Joinder Agreement

              	 
	
                EXHIBIT
                  4

              	
                Form
                  of Control Agreement Concerning Securities Accounts

              	 
	
                EXHIBIT
                  5

              	
                Form
                  of Control Agreement Concerning Deposit Accounts

              	 
	
                EXHIBIT
                  6

              	
                Form
                  of Copyright Security Agreement

              	 
	
                EXHIBIT
                  7

              	
                Form
                  of Patent Security Agreement

              	 
	
                EXHIBIT
                  8

              	
                Form
                  of Trademark Security Agreement

              	 
	
                EXHIBIT
                  9

              	
                Form
                  of Bailee’s Letter

              	 

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECURITY
      AGREEMENT

     

    This
      SECURITY AGREEMENT dated as of April 18, 2007 (as amended, amended and restated,
      supplemented or otherwise modified from time to time in accordance with the
      provisions hereof, this “Agreement”) made by ITRON, INC., a Washington
      corporation (the “Borrower”), and the Subsidiary Guarantors from to time
      to time party hereto (the “Subsidiary Guarantors”), as pledgors,
      assignors and debtors (the Borrower, together with the Subsidiary Guarantors,
      in
      such capacities and together with any successors in such capacities, the
“Pledgors”, and each, a “Pledgor”), in favor of WELLS FARGO BANK,
      NATIONAL ASSOCIATION, in its capacity as collateral agent pursuant to the Credit
      Agreement (as hereinafter defined) (in such capacity and together with any
      successors in such capacity, the “Collateral Agent”).

     

    R
      E C
      I T A L S :

     

    A.           The
      Borrower, the Subsidiary Guarantors, the Collateral Agent, the Issuing Banks
      (as
      defined in the Credit Agreement), the Lenders (as defined in the Credit
      Agreement), and the other parties thereto have, in connection with the execution
      and delivery of this Agreement, entered into that certain Credit Agreement,
      dated as of April 18, 2007 (as amended, amended and restated, supplemented
      or
      otherwise modified from time to time, the “Credit Agreement”; which term
      shall also include and refer to any increase in the amount of indebtedness
      under
      the Credit Agreement and any refinancing or replacement of the Credit Agreement
      (whether under a bank facility, securities offering or otherwise) or one or
      more
      successor or replacement facilities whether or not with a different group of
      agents or lenders (whether under a bank facility, securities offering or
      otherwise) and whether or not with different obligors upon the Administrative
      Agent’s acknowledgment of the termination of the predecessor Credit
      Agreement).

     

    B.           Each
      Subsidiary Guarantor has, pursuant to the Credit Agreement, unconditionally
      guaranteed the Secured Obligations.

     

    C.           The
      Borrower and each Subsidiary Guarantor will receive substantial benefits from
      the execution, delivery and performance of the obligations under the Credit
      Agreement and the other Loan Documents and each is, therefore, willing to enter
      into this Agreement.

     

    D.           This
      Agreement is given by each Pledgor in favor of the Collateral Agent for the
      benefit of the Secured Parties to secure the payment and performance of all
      of
      the Secured Obligations.

     

    F.           It
      is a condition to (i) the obligations of the Lenders to make the Loans under
      the
      Credit Agreement, (ii) the obligations of each Issuing Bank to issue Letters
      of
      Credit and (iii) the performance of the obligations of the Secured Parties
      under
      Hedging Agreements that constitute Secured Obligations that each Pledgor execute
      and deliver the applicable Loan Documents, including this
      Agreement.

     

    A
      G R
      E E M E N T :

     

    NOW
      THEREFORE, in consideration of the foregoing premises and other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, each Pledgor and the Collateral Agent hereby agree as
      follows:

     

     

    ARTICLE
      I                                

     

    DEFINITIONS
      AND INTERPRETATION

     

    SECTION
      1.1.  Definitions.

     

    (a)  Unless
      otherwise defined herein or in the Credit Agreement, capitalized terms used
      herein that are defined in the UCC shall have the meanings assigned to them
      in
      the UCC; provided that in any event, the following terms shall have the
      meanings assigned to them in the UCC:

     

    “Accounts”;
      “Bank”; “Chattel Paper”; “Commercial Tort Claim”;
“Commodity Account”; “Commodity Contract”; “Commodity
      Intermediary”; “Documents”; “Electronic Chattel Paper”;
“Entitlement Order”; “Equipment”; “Financial Asset”;
“Fixtures”; “Goods”, “Inventory”; “Letter-of-Credit
      Rights”; “Letters of Credit”; “Money”; “Payment
      Intangibles”; “Proceeds”; “ Records”; “Securities
      Account”; “Securities Entitlement”; “Securities Intermediary”;
“Supporting Obligations”; and “Tangible Chattel
      Paper.”

     

    (b)  Terms
      used but not otherwise defined herein that are defined in the Credit Agreement
      shall have the meanings given to them in the Credit
      Agreement.  Sections 1.02 and 1.04 of the Credit
      Agreement shall apply herein mutatis mutandis.

     

    (c)  The
      following terms shall have the following meanings:

     

    “Account
      Debtor” shall mean each person who is obligated on a Receivable or
      Supporting Obligation related thereto.

     

    “Agreement”
      shall have the meaning assigned to such term in the Preamble
      hereof.

     

    “Bankruptcy
      Code” shall mean Title 11 of the United States Code entitled “Bankruptcy”,
      as now and hereinafter in effect, or any successor statute.

     

    “Bailee
      Letter” shall be an agreement in form substantially similar to
Exhibit 9 hereto or such other form that is reasonably satisfactory
      to the Collateral Agent.

     

    “Borrower”
      shall have the meaning assigned to such term in the Preamble
      hereof.

     

    “Collateral
      Agent” shall have the meaning assigned to such term in the Preamble
      hereof.

     

    “Collateral
      Support” shall mean all property (real or personal) assigned, hypothecated
      or otherwise securing any Pledged Collateral and shall include any security
      agreement or other agreement granting a lien or security interest in such real
      or personal property.

     

    “Commodity
      Account Control Agreement” shall mean a control agreement in a form that is
      reasonably satisfactory to the Collateral Agent establishing the Collateral
      Agent’s Control with respect to any Commodity Account.

     

    “Contracts”
      shall mean, collectively, with respect to each Pledgor, the Acquisition
      Documents, all sale, service, performance, equipment or property lease
      contracts, agreements and grants and all other contracts, agreements or grants
      (in each case, whether written or oral, or third party or intercompany), between
      such Pledgor and any third party, and all assignments, amendments, restatements,
      supplements, extensions, renewals, replacements or modifications
      thereof.

     

    “Control”
      shall mean (i) in the case of each Deposit Account, “control”, as such term
      is defined in Section 9-104 of the UCC, (ii) in the case of any Security
      Entitlement, “control”, as such term is defined in Section 8-106 of the UCC, and
      (iii) in the case of any Commodity Contract, “control”, as such term is
      defined in Section 9-106 of the UCC.

     

    “Control
      Agreements” shall mean, collectively, the Deposit Account Control Agreement,
      the Securities Account Control Agreement and the Commodity Account Control
      Agreement.

     

    “Copyrights”
      shall mean, collectively, with respect to each Pledgor, all copyrights (whether
      statutory or common law, whether established or registered in the United States
      or any other country or any political subdivision thereof, whether registered
      or
      unregistered and whether published or unpublished) and all copyright
      registrations and applications made by such Pledgor, in each case, whether
      now
      owned or hereafter created or acquired by or assigned to such Pledgor, together
      with any and all (i) rights and privileges arising under applicable law
      with respect to such Pledgor’s use of such copyrights, (ii) reissues,
      renewals, continuations and extensions thereof and amendments thereto, (iii)
      income, fees, royalties, damages, claims and payments now or hereafter due
      and/or payable with respect thereto, including damages and payments for past,
      present or future infringements thereof, (iv) rights corresponding thereto
      throughout the world and (v) rights to sue for past, present or future
      infringements thereof.

     

    “Copyright
      Security Agreement” shall mean an agreement substantially in the form of
Exhibit 6 hereto.

     

    “Credit
      Agreement” shall have the meaning assigned to such term in Recital A
      hereof.

     

    “Deposit
      Account Control Agreement” shall mean an agreement substantially in the form
      of Exhibit 5 hereto or such other form that is reasonably satisfactory to
      the Collateral Agent establishing the Collateral Agent’s Control with respect to
      any Deposit Account.

     

    “Deposit
      Accounts” shall mean, collectively, with respect to each Pledgor, (i) all
“deposit accounts” as such term is defined in the UCC and in any event shall
      include the LC Account and all accounts and sub-accounts relating to any of
      the
      foregoing accounts and (ii) all cash, funds, checks, notes and instruments
      from
      time to time on deposit in any of the accounts or sub-accounts described in
      clause (i) of this definition.

     

    “Distributions”
      shall mean, collectively, with respect to each Pledgor, all dividends, cash,
      options, warrants, rights, instruments, distributions, returns of capital or
      principal, income, interest, profits and other property, interests (debt or
      equity) or proceeds, including as a result of a split, revision,
      reclassification or other like change of the Pledged Securities, from time
      to
      time received, receivable or otherwise distributed to such Pledgor in respect
      of
      or in exchange for any or all of the Pledged Securities or Intercompany
      Notes.

     

    “Excluded
      Commodities Accounts” shall mean Commodities Accounts with Investment
      Property or other property held in or credited to such Commodities Accounts
      with
      an aggregate value of less than $500,000 at any time with respect to any
      particular Commodities Account and less than $2.5 million at any time in the
      aggregate for all such Commodities Accounts.

     

    “Excluded
      Deposit Accounts” shall mean (i) Deposit Accounts used solely to fund
      payroll, payroll taxes or employee benefits in the ordinary course of business
      and (ii) Deposit Accounts with an amount on deposit of less than $500,000 at
      any
      time with respect to any particular Deposit Account and less than $2.5 million
      at any time in the aggregate for all such Deposit Accounts.

     

    “Excluded
      Securities Accounts” shall mean Securities Accounts with Investment Property
      or other property held in or credited to such Securities Accounts with an
      aggregate value of less than $500,000 at any time with respect to any particular
      Securities Account and less than $2.5 million at any time in the aggregate
      for
      all such Securities Accounts.

     

    “Excluded
      Property” shall mean

     

    (a)  any
      permit or license issued by a Governmental Authority to any Pledgor or any
      agreement to which any Pledgor is a party, in each case, only to the extent
      and
      for so long as the terms of such permit, license or agreement or any Requirement
      of Law applicable thereto, validly prohibit the creation by such Pledgor of
      a
      security interest in such permit, license or agreement in favor of the
      Collateral Agent (after giving effect to Sections 9-406(d), 9-407(a),
      9-408(a) or 9-409 of the UCC (or any successor provision or provisions) or
      any
      other applicable law (including the Bankruptcy Code) or principles of
      equity),

     

    (b)  Equipment
      owned by any Pledgor on the date hereof or hereafter acquired that is subject
      to
      a Lien securing a Purchase Money Obligation or Capital Lease Obligation
      permitted to be incurred pursuant to the provisions of the Credit Agreement
      if
      the contract or other agreement in which such Lien is granted (or the
      documentation providing for such Purchase Money Obligation or Capital Lease
      Obligation) validly prohibits the creation of any other Lien on such
      Equipment,

     

    (c)  any
      United States intent-to-use trademark or service mark application, in each
      case,
      unless and until evidence of the use of such trademark in interstate commerce
      is
      submitted to and accepted by the United States Patent and Trademark Office
      pursuant to 15 U.S.C. Section 1060(a) (or a successor provision),
      and

     

    (d)  (i)
      any
      Equity Interests of a Foreign Subsidiary if the pledge thereof or grant of
      a
      security interest therein pursuant hereto would constitute an investment of
      earnings in United States property under Section 956 (or a successor provision)
      of the Code, which investment would or could reasonably be expected to trigger
      an increase in the net income of a United States shareholder of such Subsidiary
      pursuant to Section 951 (or a successor provision) of the Code, as reasonably
      determined by the Administrative Agent; provided, however, that
      Excluded Property shall not include (i) Voting Stock of any Subsidiary which
      is
      a first-tier controlled foreign corporation (as defined in Section 957(a) of
      the
      Code) representing not more than 66% of the total voting power of all
      outstanding Voting Stock of such Subsidiary and (ii) 100% of the Equity
      Interests not constituting Voting Stock of any such Subsidiary, except that
      any
      such Equity Interests constituting “stock entitled to vote” within the meaning
      of Treasury Regulation Section 1.956-2(c)(2) shall be treated as Voting Stock
      for purposes of this clause (d)(i) and (ii) any Equity Interests of an
      Outsourcing Project Subsidiary so long as the terms of any Outsourcing Project
      Indebtedness of such Outsourcing Project Subsidiary permitted under Section
      6.01(m) of the Credit Agreement (or the terms of any related Outsourcing
      Project Guarantee permitted under Section 6.01(m) of the Credit
      Agreement) preclude the pledge of the Equity Interests of such Outsourcing
      Project Subsidiary;

     

    provided,
      however, that Excluded Property shall not include any Proceeds,
      substitutions or replacements of any Excluded Property referred to in clauses
      (a) through (d) (unless such Proceeds, substitutions or replacements would
      constitute Excluded Property referred to in clauses (a), (b), (c) or
      (d)).

     

    “General
      Intangibles” shall mean, collectively, with respect to each Pledgor, all
“general intangibles”, as such term is defined in the UCC, of such Pledgor and,
      in any event, shall include (i) all of such Pledgor’s rights, title and
      interest in, to and under all Contracts and insurance policies
      (including all rights and remedies relating to monetary damages, including
      indemnification rights and remedies, and claims for damages or other relief
      pursuant to or in respect of any Contract), (ii) all know-how and
      warranties relating to any of the Pledged Collateral or the Mortgaged Property,
      (iii) any and all other rights, claims, choses-in-action and causes of
      action of such Pledgor against any other person and the benefits of any and
      all
      collateral or other security given by any other person in connection therewith,
      (iv) all guarantees, endorsements and indemnifications on, or of, any of
      the Pledged Collateral or any of the Mortgaged Property, (v) all lists,
      books, records, correspondence, ledgers, printouts, files (whether in printed
      form or stored electronically), tapes and other papers or materials containing
      information relating to any of the Pledged Collateral or any of the Mortgaged
      Property, including all customer or tenant lists, identification of suppliers,
      data, plans, blueprints, specifications, designs, drawings, appraisals, recorded
      knowledge, surveys, studies, engineering reports, test reports, manuals,
      standards, processing standards, performance standards, catalogs, research
      data,
      computer and automatic machinery software and programs and the like, field
      repair data, accounting information pertaining to such Pledgor’s operations or
      any of the Pledged Collateral or any of the Mortgaged Property and all media
      in
      which or on which any of the information or knowledge or data or records may
      be
      recorded or stored and all computer programs used for the compilation or
      printout of such information, knowledge, records or data, (vi) all
      licenses, consents, permits, variances, certifications, authorizations and
      approvals, however characterized, now or hereafter acquired or held by such
      Pledgor, including building permits, certificates of occupancy, environmental
      certificates, industrial permits or licenses and certificates of operation
      and
      (vii) all rights to reserves, deferred payments, deposits, refunds,
      indemnification of claims and claims for tax or other refunds against any
      Governmental Authority.

     

    “Goodwill”
      shall mean, collectively, with respect to each Pledgor, the goodwill connected
      with such Pledgor’s business including all goodwill connected with (i) the use
      of and symbolized by any Trademark or Intellectual Property License with respect
      to any Trademark in which such Pledgor has any interest, (ii) all know-how,
      trade secrets, customer and supplier lists, proprietary information, inventions,
      methods, procedures, formulae, descriptions, compositions, technical data,
      drawings, specifications, name plates, catalogs, confidential information and
      the right to limit the use or disclosure thereof by any person, pricing and
      cost
      information, business and marketing plans and proposals, consulting agreements,
      engineering contracts and such other assets which relate to such goodwill and
      (iii) all product lines of such Pledgor’s business.

     

    “Instruments”
      shall mean, collectively, with respect to each Pledgor, all “instruments”, as
      such term is defined in Article 9, rather than Article 3, of the UCC,
      and shall include all promissory notes, drafts, bills of exchange or
      acceptances.

     

    “Intellectual
      Property Collateral” shall mean, collectively, the Patents, Trademarks,
      Copyrights, Intellectual Property Licenses and Goodwill, other than any Excluded
      Property.

     

    “Intellectual
      Property Licenses” shall mean, collectively, with respect to each Pledgor,
      all license and distribution agreements with, and covenants not to sue, any
      other party with respect to any Patent, Trademark or Copyright or any other
      patent, trademark or copyright, whether such Pledgor is a licensor or licensee,
      distributor or distributee under any such license or distribution agreement,
      together with any and all (i) renewals, extensions, supplements and
      continuations thereof, (ii) income, fees, royalties, damages, claims and
      payments now and hereafter due and/or payable thereunder and with respect
      thereto including damages and payments for past, present or future infringements
      or violations thereof, (iii) rights to sue for past, present and future
      infringements or violations thereof and (iv) other rights to use, exploit or
      practice any or all of the Patents, Trademarks or Copyrights or any other
      patent, trademark or copyright.

     

    “Intercompany
      Notes” shall mean, with respect to each Pledgor, all intercompany notes
      described in Schedule 11 to the Perfection Certificate and
      intercompany notes hereafter acquired by such Pledgor and all certificates,
      instruments or agreements evidencing such intercompany notes, and all
      assignments, amendments, restatements, supplements, extensions, renewals,
      replacements or modifications thereof to the extent permitted pursuant to the
      terms hereof.

     

    “Investment
      Property” shall mean a security, whether certificated or uncertificated,
      Security Entitlement, Securities Account, Commodity Contract or Commodity
      Account, excluding, however, the Securities Collateral.

     

    “Joinder
      Agreement” shall mean an agreement substantially in the form of
Exhibit 3 hereto.

     

    “LC
      Account” shall mean any account established and maintained in accordance
      with the provisions of Section 2.18(i) of the Credit Agreement and all
      property from time to time on deposit in such LC Account.

     

    “Material
      Intellectual Property Collateral” shall mean any Intellectual Property
      Collateral that is material (i) to the use and operation of any material Pledged
      Collateral or Mortgaged Property or (ii) to the business, results of operations,
      prospects or condition, financial or otherwise, of any Pledgor.

     

    “Mortgaged
      Property” shall have the meaning assigned to such term in the
      Mortgages.

     

    “Patents”
      shall mean, collectively, with respect to each Pledgor, all patents issued
      or
      assigned to, and all patent applications and registrations made by, such Pledgor
      (whether established or registered or recorded in the United States or any
      other
      country or any political subdivision thereof), together with any and all
      (i) rights and privileges arising under applicable law with respect to such
      Pledgor’s use of any patents, (ii) inventions and improvements described and
      claimed therein, (iii) reissues, divisions, continuations, renewals, extensions
      and continuations-in-part thereof and amendments thereto, (iv) income, fees,
      royalties, damages, claims and payments now or hereafter due and/or payable
      thereunder and with respect thereto including damages and payments for past,
      present or future infringements thereof, (v) rights corresponding thereto
      throughout the world and (vi) rights to sue for past, present or future
      infringements thereof.

     

    “Patent
      Security Agreement” shall mean an agreement substantially in the form of
Exhibit 7 hereto.

     

    “Perfection
      Certificate” shall mean that certain perfection certificate dated April 18,
      2007, executed and delivered by each Pledgor in favor of the Administrative
      Agent and Collateral Agent for the benefit of the Secured Parties, and each
      other Perfection Certificate (which shall be in form and substance reasonably
      acceptable to the Collateral Agent) executed and delivered by the applicable
      Subsidiary Guarantor in favor of the Administrative Agent and Collateral Agent
      for the benefit of the Secured Parties contemporaneously with the execution
      and
      delivery of each Joinder Agreement executed in accordance with Section
      3.5 hereof, in each case, as the same may be amended, amended and restated,
      supplemented or otherwise modified from time to time in accordance with the
      Credit Agreement or upon the request of the Collateral Agent.

     

    “Pledge
      Amendment” shall have the meaning assigned to such term in Section
      5.1 hereof.

     

    “Pledged
      Collateral” shall have the meaning assigned to such term in Section
      2.1 hereof.

     

    “Pledged
      Securities” shall mean, collectively, with respect to each Pledgor, (i) all
      issued and outstanding Equity Interests of each issuer set forth on Schedule
      10 to the Perfection Certificate as being owned by such Pledgor and all
      options, warrants, rights, agreements and additional Equity Interests of
      whatever class of any such issuer acquired by such Pledgor (including by
      issuance), together with all rights, privileges, authority and powers of such
      Pledgor relating to such Equity Interests in each such issuer or under any
      Organizational Document of each such issuer, and the certificates, instruments
      and agreements representing such Equity Interests and any and all interest
      of
      such Pledgor in the entries on the books of any financial intermediary
      pertaining to such Equity Interests, (ii) all Equity Interests of any issuer,
      which Equity Interests are hereafter acquired by such Pledgor (including by
      issuance) and all options, warrants, rights, agreements and additional Equity
      Interests of whatever class of any such issuer acquired by such Pledgor
      (including by issuance), together with all rights, privileges, authority and
      powers of such Pledgor relating to such Equity Interests or under any
      Organizational Document of any such issuer, and the certificates, instruments
      and agreements representing such Equity Interests and any and all interest
      of
      such Pledgor in the entries on the books of any financial intermediary
      pertaining to such Equity Interests, from time to time acquired by such Pledgor
      in any manner, and (iii) all Equity Interests issued in respect of the Equity
      Interests referred to in clause (i) or (ii) upon any consolidation or merger
      of
      any issuer of such Equity Interests.

     

    “Pledgor”
      shall have the meaning assigned to such term in the Preamble
      hereof.

     

    “Receivables”
      shall mean all (i) Accounts, (ii) Chattel Paper, (iii) Payment Intangibles,
      (iv)
      General Intangibles, (v) Instruments and (vi) all other 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, regardless of how classified under the UCC together with all of
      Pledgors’ 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 Records relating thereto.

     

    “Securities
      Account Control Agreement” shall mean an agreement substantially in the form
      of Exhibit 4 hereto or such other form that is reasonably satisfactory to
      the Collateral Agent establishing the Collateral Agent’s Control with respect to
      any Securities Account.

     

    “Securities
      Collateral” shall mean, collectively, the Pledged Securities, the
      Intercompany Notes and the Distributions.

     

    “Subsidiary
      Guarantors” shall have the meaning assigned to such term in the Preamble
      hereof.

     

    “Trademarks”
      shall mean, collectively, with respect to each Pledgor, all trademarks
      (including service marks), slogans, logos, certification marks, trade dress,
      uniform resource locations (URL’s), domain names, corporate names and trade
      names, whether registered or unregistered, owned by or assigned to such Pledgor
      and all registrations and applications for the foregoing (whether statutory
      or
      common law and whether established or registered in the United States or any
      other country or any political subdivision thereof), together with any and
      all
      (i) rights and privileges arising under applicable law with respect to such
      Pledgor’s use of any trademarks, (ii) reissues, continuations, extensions
      and renewals thereof and amendments thereto, (iii) income, fees, royalties,
      damages and payments now and hereafter due and/or payable thereunder and with
      respect thereto, including damages, claims and payments for past, present or
      future infringements thereof, (iv) rights corresponding thereto throughout
      the world and (v) rights to sue for past, present and future infringements
      thereof.

     

    “Trademark
      Security Agreement” shall mean an agreement substantially in the form of
Exhibit 8 hereto.

     

    “UCC”
      shall mean the Uniform Commercial Code as in effect from time to time in the
      State of New York; provided, however, that, at any time, if by
      reason of mandatory provisions of law, any or all of the perfection or priority
      of the Collateral Agent’s security interest in any item or portion of the
      Pledged Collateral is governed by the Uniform Commercial Code as in effect
      in a
      jurisdiction other than the State of New York, the term “UCC” shall mean the
      Uniform Commercial Code as in effect, at such time, in such other jurisdiction
      for purposes of the provisions hereof relating to such perfection or priority
      and for purposes of definitions relating to such provisions.

     

    SECTION
      1.2.  Interpretation

     

    .  The
      rules of interpretation specified in the Credit Agreement (including
Section 1.02 thereof) shall be applicable to this
      Agreement.

     

    SECTION
      1.3.  Resolution
      of Drafting Ambiguities

     

    .  Each
      Pledgor acknowledges and agrees that it was represented by counsel in connection
      with the execution and delivery hereof, that it and its counsel reviewed and
      participated in the preparation and negotiation hereof and that any rule of
      construction to the effect that ambiguities are to be resolved against the
      drafting party (i.e., the Collateral Agent) shall not be employed in the
      interpretation hereof.

     

    SECTION
      1.4.  Perfection
      Certificate

     

    .  The
      Collateral Agent and each Secured Party agree that the Perfection Certificate
      and all descriptions of Pledged Collateral, schedules, amendments and
      supplements thereto are and shall at all times remain a part of this
      Agreement.

     

     

    ARTICLE
      II                                

     

    GRANT
      OF
      SECURITY AND SECURED OBLIGATIONS

     

    SECTION
      2.1.  Grant
      of Security Interest

     

    .  As
      collateral security for the payment and performance in full of all the Secured
      Obligations, each Pledgor hereby pledges and grants to the Collateral Agent
      for
      the benefit of the Secured Parties, a lien on and security interest in all
      of
      the right, title and interest of such Pledgor in, to and under the following
      property, wherever located, and whether now existing or hereafter arising or
      acquired from time to time (collectively, the “Pledged
      Collateral”):

     

    
      	
              (i)  

            	
              all
                Accounts;

            

    

     

    
      	
              (ii)  

            	
              all
                Equipment, Goods, Inventory and
                Fixtures;

            

    

     

    
      	
              (iii)  

            	
              all
                Documents, Instruments and Chattel
                Paper;

            

    

     

    
      	
              (iv)  

            	
              all
                Letters of Credit and Letter-of-Credit
                Rights;

            

    

     

    
      	
              (v)  

            	
              all
                Securities Collateral;

            

    

     

    
      	
              (vi)  

            	
              all
                Investment Property;

            

    

     

    
      	
              (vii)  

            	
              all
                Patents, Trademarks, Copyrights, Intellectual Property Licenses and
                Goodwill;

            

    

     

    
      	
              (viii)  

            	
              the
                Commercial Tort Claims described on Schedule 14 to the Perfection
                Certificate;

            

    

     

    
      	
              (ix)  

            	
              all
                General Intangibles;

            

    

     

    
      	
              (x)  

            	
              all
                Money and all Deposit Accounts;

            

    

     

    
      	
              (xi)  

            	
              all
                Supporting Obligations;

            

    

     

    
      	
              (xii)  

            	
              all
                books and records relating to the Pledged Collateral;
                and

            

    

     

    
      	
              (xiii)  

            	
              to
                the extent not covered by clauses (i) through (xii) of this sentence,
                all
                other personal property of such Pledgor, whether tangible or intangible,
                and all Proceeds and products of each of the foregoing and all accessions
                to, substitutions and replacements for, and rents, profits and products
                of, each of the foregoing, any and all Proceeds of any insurance,
                indemnity, warranty or guaranty payable to such Pledgor from time
                to time
                with respect to any of the
                foregoing.

            

    

     

    Notwithstanding
      anything to the contrary contained in clauses (i) through (xiii) above, the
      security interest created by this Agreement shall not extend to, and the term
      “Pledged Collateral” shall not include, any Excluded Property and (x) the
      Pledgors shall from time to time at the request of the Collateral Agent give
      written notice to the Collateral Agent identifying in reasonable detail the
      Excluded Property and shall provide to the Collateral Agent such other
      information regarding the Excluded Property as the Collateral Agent may
      reasonably request and (y) from and after the Closing Date, no Pledgor
      shall permit to become effective in any document creating, governing or
      providing for any permit, license or agreement a provision that would prohibit
      the creation of a Lien on such permit, license or agreement in favor of the
      Collateral Agent unless such prohibition is permitted under Section 6.18
      of the Credit Agreement and such Pledgor believes, in its reasonable judgment,
      that such prohibition is usual and customary in transactions of such
      type.

     

    SECTION
      2.2.  Filings

     

    .  (a)  Each
      Pledgor
      hereby irrevocably authorizes the Collateral Agent at any time and from time
      to
      time to file in any relevant jurisdiction any financing statements (including
      fixture filings) and amendments thereto that contain the information required
      by
      Article 9 of the Uniform Commercial Code of each applicable jurisdiction for
      the
      filing of any financing statement or amendment relating to the Pledged
      Collateral, including (i) whether such Pledgor is an organization, the type
      of
      organization and any organizational identification number issued to such
      Pledgor, (ii) any financing or continuation statements or other documents
      without the signature of such Pledgor where permitted by law, including the
      filing of a financing statement describing the Pledged Collateral as “all assets
      now owned or hereafter acquired by the Pledgor or in which Pledgor otherwise
      has
      rights” or a similar description and (iii) in the case of a financing statement
      filed as a fixture filing, a sufficient description of the real property to
      which such Pledged Collateral relates.  Each Pledgor agrees to provide
      all information described in the immediately preceding sentence to the
      Collateral Agent promptly upon request by the Collateral Agent.

     

    (b)  Each
      Pledgor hereby ratifies its authorization for the Collateral Agent to file
      in
      any relevant jurisdiction any financing statements relating to the Pledged
      Collateral if filed prior to the date hereof.

     

    (c)  Each
      Pledgor hereby further authorizes the Collateral Agent to file filings with
      the
      United States Patent and Trademark Office or United States Copyright Office
      (or
      any successor office or any similar office in any other country), as applicable,
      including this Agreement, the Copyright Security Agreement, the Patent Security
      Agreement and the Trademark Security Agreement, or other documents for the
      purpose of perfecting, confirming, continuing, enforcing or protecting the
      security interest granted by such Pledgor hereunder, without the signature
      of
      such Pledgor, and naming such Pledgor, as debtor, and the Collateral Agent,
      as
      secured party.

     

     

    ARTICLE
      III                                

     

    PERFECTION;
      SUPPLEMENTS; FURTHER ASSURANCES; USE
      OF
      PLEDGED COLLATERAL

     

    SECTION
      3.1.  Delivery
      of Certificated Securities Collateral

     

    .  Each
      Pledgor represents and warrants that all certificates, agreements or instruments
      representing or evidencing the Securities Collateral (other than Excluded
      Property) in existence on the date hereof have been delivered to the Collateral
      Agent in suitable form for transfer by delivery or accompanied by duly executed
      instruments of transfer or assignment in blank and that the Collateral Agent
      has
      a perfected first priority security interest therein.  Each Pledgor
      hereby agrees that all certificates, agreements or instruments representing
      or
      evidencing Securities Collateral acquired by such Pledgor after the date hereof
      shall promptly (but in any event within 30 days after receipt thereof by such
      Pledgor or such longer period as may be determined by the Collateral Agent
      in
      its sole discretion) be delivered to and held by or on behalf of the Collateral
      Agent pursuant hereto (provided that notwithstanding the foregoing, no
      such certificates, agreements or instruments representing or evidencing
      Securities Collateral shall be required to be so delivered to the extent such
      Securities Collateral constitutes Excluded Property, but shall be so delivered
      promptly (but in any event within five days) following the date such Securities
      Collateral ceases to constitute Excluded Property).  All certificated
      Securities Collateral shall be in suitable form for transfer by delivery or
      shall be accompanied by duly executed instruments of transfer or assignment
      in
      blank, all in form and substance satisfactory to the Collateral
      Agent.  The Collateral Agent shall have the right, at any time upon
      the occurrence and during the continuance of any Event of Default, to endorse,
      assign or otherwise transfer to or to register in the name of the Collateral
      Agent or any of its nominees or endorse for negotiation any or all of the
      Securities Collateral, without any indication that such Securities Collateral
      is
      subject to the security interest hereunder.  In addition, upon the
      occurrence and during the continuance of an Event of Default, the Collateral
      Agent shall have the right at any time to exchange certificates representing
      or
      evidencing Securities Collateral for certificates of smaller or larger
      denominations.

     

    SECTION
      3.2.  Perfection
      of Uncertificated Securities Collateral

     

    .  Each
      Pledgor represents and warrants that the Collateral Agent has a perfected first
      priority security interest in all uncertificated Pledged Securities (other
      than
      uncertificated Pledged Securities in which a security interest cannot be
      perfected by taking all applicable actions under the UCC and such other actions
      (including, without limitation, the delivery or filing of financing, statements,
      agreements instruments or other documents) as may have been reasonably requested
      by the Collateral Agent in order to perfect such security interest under the
      local laws of the jurisdiction of the issuer of such Pledged Securities) pledged
      by it hereunder that are in existence on the date hereof.  Each
      Pledgor hereby agrees that if any of the Pledged Securities are at any time
      not
      evidenced by certificates of ownership, then each applicable Pledgor shall,
      to
      the extent permitted by applicable law, (i) cause the issuer to execute and
      deliver to the Collateral Agent an acknowledgment of the pledge of such Pledged
      Securities substantially in the form of Exhibit 1 hereto or such
      other form that is reasonably satisfactory to the Collateral Agent, (ii) if
      necessary or desirable to perfect a security interest in such Pledged
      Securities, cause the issuer of such uncertificated Pledged Securities to enter
      into a control agreement with the Collateral Agent and such Pledgor reasonably
      satisfactory to the Collateral Agent pursuant to which such issuer shall agree
      to comply with instructions originated by the Collateral Agent without further
      consent by such Pledgor, and cause such pledge to be recorded on the
      equityholder register or the books of the issuer, execute any customary pledge
      forms or other documents necessary or appropriate to complete the pledge and
      give the Collateral Agent the right to transfer such Pledged Securities under
      the terms hereof, (iii) upon request by the Collateral Agent, provide to the
      Collateral Agent an opinion of counsel, in form and substance reasonably
      satisfactory to the Collateral Agent, confirming such pledge and perfection
      thereof, and (iv) after the occurrence and during the continuance of any Event
      of Default, upon request by the Collateral Agent, (A) cause the Organizational
      Documents of each such issuer that is a Subsidiary of the Borrower to be amended
      to provide that such Pledged Securities shall be treated as “securities” for
      purposes of the UCC and (B) cause such Pledged Securities to become certificated
      and delivered to the Collateral Agent in accordance with the provisions of
      Section 3.1.

     

    SECTION
      3.3.  Financing
      Statements and Other Filings; Maintenance of Perfected Security
      Interest

     

    .  Each
      Pledgor represents and warrants that all financing statements, agreements,
      instruments and other documents necessary to perfect the security interest
      granted by it to the Collateral Agent in respect of the Pledged Collateral
      (other than uncertificated Pledged Securities in which a security interest
      cannot be perfected by taking all applicable actions under the UCC and such
      other actions (including, without limitation, the delivery or filing of
      financing, statements, agreements instruments or other documents) as may have
      been reasonably requested by the Collateral Agent in order to perfect such
      security interest under the local laws of the jurisdiction of the issuer of
      such
      Pledged Securities) have been delivered to the Collateral Agent in completed
      and, to the extent necessary or appropriate, duly executed form for filing
      in
      each governmental, municipal or other office specified in Schedule 6 to
      the Perfection Certificate.  Each Pledgor agrees that at the sole cost
      and expense of the Pledgors, such Pledgor will maintain the security interest
      created by this Agreement in the Pledged Collateral (other than uncertificated
      Pledged Securities in which a security interest cannot be perfected by taking
      all applicable actions under the UCC and such other actions (including, without
      limitation, the delivery or filing of financing, statements, agreements
      instruments or other documents) as may have been reasonably requested by the
      Collateral Agent in order to perfect such security interest under the local
      laws
      of the jurisdiction of the issuer of such Pledged Securities) as a perfected
      first priority security interest subject only to Permitted Collateral
      Liens.

     

    SECTION
      3.4.  Other
      Actions

     

    .  In
      order to further ensure the attachment, perfection and priority of, and the
      ability of the Collateral Agent to enforce, the Collateral Agent’s security
      interest in the Pledged Collateral, each Pledgor represents and warrants (as
      to
      itself) as follows and agrees, in each case at such Pledgor’s own expense, to
      take the following actions with respect to the following Pledged
      Collateral:

     

    (a)  Instruments
      and Tangible Chattel Paper.  As of the date hereof, no amounts
      payable under or in connection with any of the Pledged Collateral are evidenced
      by any Instrument or Tangible Chattel Paper other than such Instruments and
      Tangible Chattel Paper listed in Schedule 11 to the Perfection
      Certificate.  Each Instrument and each item of Tangible Chattel Paper
      listed in Schedule 11 to the Perfection Certificate has been properly
      endorsed, assigned and delivered to the Collateral Agent, accompanied by
      instruments of transfer or assignment duly executed in blank.  If any
      amount then payable under or in connection with any of the Pledged Collateral
      shall be evidenced by any Instrument or Tangible Chattel Paper, and such amount,
      together with all amounts payable evidenced by any Instrument or Tangible
      Chattel Paper not previously delivered to the Collateral Agent exceeds $2.5
      million in the aggregate for all Pledgors, the Pledgor acquiring such Instrument
      or Tangible Chattel Paper shall promptly (but in any event within 30 days after
      receipt thereof) endorse, assign and deliver the same to the Collateral Agent,
      accompanied by such instruments of transfer or assignment duly executed in
      blank
      as the Collateral Agent may from time to time specify.

     

    (b)  Deposit
      Accounts.  As of the date hereof, no Pledgor has any Deposit
      Accounts other than the accounts listed in Schedule 15 to the Perfection
      Certificate.  The Collateral Agent has a first priority security
      interest in each such Deposit Account (other than Excluded Deposit Accounts),
      which security interest is perfected by Control.  No Pledgor shall
      hereafter establish and maintain any Deposit Account unless (1) it shall
      have given the Collateral Agent 30 days’ (or such shorter period as may be
      determined by the Collateral Agent in its sole discretion) prior written notice
      of its intention to establish such new Deposit Account with a Bank,
      (2) such Bank shall be reasonably acceptable to the Collateral Agent and
      (3) such Bank and such Pledgor shall have duly executed and delivered to
      the Collateral Agent a Deposit Account Control Agreement with respect to such
      Deposit Account (other than Excluded Deposit Accounts).  The
      Collateral Agent agrees with each Pledgor that the Collateral Agent shall not
      give any instructions directing the disposition of funds from time to time
      credited to any Deposit Account or withhold any withdrawal rights from such
      Pledgor with respect to funds from time to time credited to any Deposit Account
      unless an Event of Default has occurred and is continuing.  The two
      immediately preceding sentences shall not apply to the LC Account or to any
      other Deposit Accounts for which the Collateral Agent is the Bank.  No
      Pledgor shall grant Control of any Deposit Account to any person other than
      the
      Collateral Agent.

     

    (c)  Securities
      Accounts and Commodity Accounts.  (i)  As of the date
      hereof, no Pledgor has any Securities Accounts or Commodity Accounts other
      than
      those listed in Schedule 15 to the Perfection Certificate.  The
      Collateral Agent has a first priority security interest in each such Securities
      Account and Commodity Account (other than Excluded Securities Accounts and
      Excluded Commodities Accounts), which security interest is perfected by
      Control.  No Pledgor shall hereafter establish and maintain any
      Securities Account or Commodity Account with any Securities Intermediary or
      Commodity Intermediary unless (1) it shall have given the Collateral Agent
      30 days’ (or such shorter period as may be determined by the Collateral Agent in
      its sole discretion) prior written notice of its intention to establish such
      new
      Securities Account or Commodity Account with such Securities Intermediary or
      Commodity Intermediary, (2) such Securities Intermediary or Commodity
      Intermediary shall be reasonably acceptable to the Collateral Agent and (3)
      such
      Securities Intermediary or Commodity Intermediary, as the case may be, and
      such
      Pledgor shall have duly executed and delivered a Control Agreement with respect
      to such Securities Account or Commodity Account (other than Excluded Securities
      Accounts and Excluded Commodities Accounts), as the case may be.  Each
      Pledgor shall accept any cash and Investment Property in trust for the benefit
      of the Collateral Agent and within five days of actual receipt thereof, deposit
      any and all cash and Investment Property received by it into a Deposit Account
      or Securities Account.  The Collateral Agent agrees with each Pledgor
      that the Collateral Agent shall not give any Entitlement Orders or instructions
      or directions to any issuer of uncertificated securities, Securities
      Intermediary or Commodity Intermediary, and shall not withhold its consent
      to
      the exercise of any withdrawal or dealing rights by such Pledgor, unless an
      Event of Default has occurred and is continuing or, after giving effect to
      any
      such investment and withdrawal rights, would occur.  The two
      immediately preceding sentences shall not apply to any Financial Assets credited
      to a Securities Account for which the Collateral Agent is the Securities
      Intermediary.  No Pledgor shall grant Control over any Investment
      Property to any person other than the Collateral Agent.

     

    (ii)  As
      between the Collateral Agent and the Pledgors, the Pledgors shall bear the
      investment risk with respect to the Investment Property and Pledged Securities,
      and the risk of loss of, damage to, or the destruction of the Investment
      Property and Pledged Securities, whether in the possession of, or maintained
      as
      a Security Entitlement or deposit by, or subject to the Control of, the
      Collateral Agent, a Securities Intermediary, a Commodity Intermediary, any
      Pledgor or any other person.

     

    (d)  Electronic
      Chattel Paper and Transferable Records.  As of the date hereof, no
      amount under or in connection with any of the Pledged Collateral is evidenced
      by
      any Electronic Chattel Paper or any “transferable record” (as that term is
      defined in Section 201 of the Federal Electronic Signatures in Global and
      National Commerce Act, or in Section 16 of the Uniform Electronic
      Transactions Act as in effect in any relevant jurisdiction) other than such
      Electronic Chattel Paper and transferable records listed in Schedule 11
      to the Perfection Certificate.  If any amount payable under or in
      connection with any of the Pledged Collateral shall be evidenced by any
      Electronic Chattel Paper or any transferable record, the Pledgor acquiring
      such
      Electronic Chattel Paper or transferable record shall promptly notify the
      Collateral Agent thereof and shall take such action as the Collateral Agent
      may
      reasonably request to vest in the Collateral Agent control of such Electronic
      Chattel Paper under Section 9-105 of the UCC or control under Section 201
      of the Federal Electronic Signatures in Global and National Commerce Act or,
      as
      the case may be, Section 16 of the Uniform Electronic Transactions Act, as
      so in effect in such jurisdiction, of such transferable record.  The
      requirement in the preceding sentence shall not apply to the extent that such
      amount, together with all amounts payable evidenced by Electronic Chattel Paper
      or any transferable record in which the Collateral Agent has not been vested
      control within the meaning of the statutes described in the immediately
      preceding sentence, does not exceed $2.5 million in the aggregate for all
      Pledgors.  The Collateral Agent agrees with such Pledgor that the
      Collateral Agent will arrange, pursuant to procedures satisfactory to the
      Collateral Agent and so long as such procedures will not result in the
      Collateral Agent’s loss of control, for the Pledgor to make alterations to the
      Electronic Chattel Paper or transferable record permitted under
      Section 9-105 of the UCC or, as the case may be, Section 201 of the Federal
      Electronic Signatures in Global and National Commerce Act or Section 16 of
      the Uniform Electronic Transactions Act for a party in control to allow without
      loss of control, unless an Event of Default has occurred and is continuing
      or
      would occur after taking into account any action by such Pledgor with respect
      to
      such Electronic Chattel Paper or transferable record.

     

    (e)  Letter-of-Credit
      Rights.  If any Pledgor is at any time a beneficiary under a
      Letter of Credit now or hereafter issued, such Pledgor shall promptly notify
      the
      Collateral Agent thereof and such Pledgor shall, at the request of the
      Collateral Agent, pursuant to an agreement in form and substance reasonably
      satisfactory to the Collateral Agent, either (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 the Letter of Credit or (ii) arrange
      for the Collateral Agent 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 the
      Credit Agreement.  The actions in the preceding sentence shall not be
      required to the extent that the amount of any such Letter of Credit, together
      with the aggregate amount of all other Letters of Credit for which the actions
      described above in clause (i) and (ii) have not been taken, does not exceed
      $2.5
      million in the aggregate for all Pledgors.

     

    (f)  Commercial
      Tort Claims.   As of the date hereof, each Pledgor hereby
      represents and warrants that it holds no Commercial Tort Claims other than
      those
      listed in Schedule 14 to the Perfection Certificate.  If any
      Pledgor shall at any time hold or acquire a Commercial Tort Claim, such Pledgor
      shall promptly notify the Collateral Agent in writing signed by such Pledgor
      of
      the brief details thereof and grant to the Collateral Agent in such writing
      a
      security interest therein and in the Proceeds thereof, all upon the terms of
      this Agreement, with such writing to be in form and substance reasonably
      satisfactory to the Collateral Agent.  The requirement in the
      preceding sentence shall not apply to the extent that the amount of such
      Commercial Tort Claim, together with the amount of all other Commercial Tort
      Claims held by any Pledgor in which the Collateral Agent does not have a
      security interest, does not exceed $2.5 million in the aggregate for all
      Pledgors.

     

    (g)  Landlord’s
      Access Agreements/Bailee Letters.  Each Pledgor shall use its
      commercially reasonable efforts to obtain as soon as practicable after the
      date
      hereof with respect to each location set forth in
Schedule 4.01(n)(vi) to the Credit Agreement, where such Pledgor
      maintains Pledged Collateral, a Bailee Letter and/or Landlord Access Agreement,
      as applicable, and use commercially reasonable efforts to obtain a Bailee
      Letter, Landlord Access Agreement and/or landlord’s lien waiver, as applicable,
      from all such bailees and landlords, as applicable, who from time to time have
      possession of any Pledged Collateral if and to the extent reasonably requested
      by the Collateral Agent.  A waiver of bailee’s lien shall not be
      required if the value of the Pledged Collateral held by such bailee is less
      than
      $500,000, provided that the aggregate value of the Pledged Collateral held
      by
      all bailees who have not delivered a Bailee Letter is less than $5.0 million
      in
      the aggregate.

     

    SECTION
      3.5.  Joinder
      of Additional Subsidiary Guarantors

     

    .  The
      Pledgors shall cause each Subsidiary of the Borrower which, from time to time,
      after the date hereof shall be required to pledge any assets to the Collateral
      Agent for the benefit of the Secured Parties pursuant to the provisions of
      the
      Credit Agreement, (a) to execute and deliver to the Collateral Agent (i) a
      Joinder Agreement substantially in the form of Exhibit 3 hereto
      within 30 days (or such longer period as may be determined by the Collateral
      Agent in its sole discretion) of the date on which it was acquired or created
      and (ii) a Perfection Certificate, in each case, within 30 days (or such longer
      period as may be determined by the Collateral Agent in its sole discretion)
      of
      the date on which it was acquired or created or (b) in the case of a
      Subsidiary organized outside of the United States required to pledge any assets
      to the Collateral Agent, to execute and deliver to the Collateral Agent such
      documentation as the Collateral Agent shall reasonably request and, in each
      case
      with respect to clauses (a) and (b) above, upon such execution and delivery,
      such Subsidiary shall constitute a “Subsidiary Guarantor” and a “Pledgor” for
      all purposes hereunder with the same force and effect as if originally named
      as
      a Subsidiary Guarantor and Pledgor herein.  The execution and delivery
      of such Joinder Agreement shall not require the consent of any Pledgor
      hereunder.  The rights and obligations of each Pledgor hereunder shall
      remain in full force and effect notwithstanding the addition of any new
      Subsidiary Guarantor and Pledgor as a party to this Agreement.

     

    SECTION
      3.6.  Supplements;
      Further Assurances

     

    .  Each
      Pledgor shall take such further actions, and execute and/or deliver to the
      Collateral Agent such additional financing statements, amendments, assignments,
      agreements, supplements, powers and instruments, as the Collateral Agent may
      in
      its reasonable judgment deem necessary or appropriate in order to create,
      perfect, preserve and protect the security interest in the Pledged Collateral
      as
      provided herein and the rights and interests granted to the Collateral Agent
      hereunder, to carry into effect the purposes hereof or better to assure and
      confirm the validity, enforceability and priority of the Collateral Agent’s
      security interest in the Pledged Collateral or permit the Collateral Agent
      to
      exercise and enforce its rights, powers and remedies hereunder with respect
      to
      any Pledged Collateral, including the filing of financing statements,
      continuation statements and other documents (including this Agreement) under
      the
      Uniform Commercial Code (or other similar laws) in effect in any jurisdiction
      with respect to the security interest created hereby and the execution and
      delivery of Control Agreements, all in form reasonably satisfactory to the
      Collateral Agent and in such offices (including the United States Patent and
      Trademark Office and the United States Copyright Office) wherever required
      by
      law to perfect, continue and maintain the validity, enforceablity and priority
      of the security interest in the Pledged Collateral as provided herein and to
      preserve the other rights and interests granted to the Collateral Agent
      hereunder, as against third parties, with respect to the Pledged
      Collateral.  Without limiting the generality of the foregoing, each
      Pledgor shall make, execute, endorse, acknowledge, file or refile and/or deliver
      to the Collateral Agent from time to time upon reasonable request by the
      Collateral Agent such lists, schedules, descriptions and designations of the
      Pledged Collateral, copies of warehouse receipts, receipts in the nature of
      warehouse receipts, bills of lading, documents of title, vouchers, invoices,
      schedules, confirmatory assignments, supplements, additional security
      agreements, conveyances, financing statements, transfer endorsements, powers
      of
      attorney, certificates, reports and other assurances or instruments as the
      Collateral Agent shall reasonably request.  If an Event of Default has
      occurred and is continuing, the Collateral Agent may institute and maintain,
      in
      its own name or in the name of any Pledgor, such suits and proceedings as the
      Collateral Agent may be advised by counsel shall be necessary or expedient
      to
      prevent any impairment of the security interest in or the perfection thereof
      in
      the Pledged Collateral.  All of the foregoing shall be at the sole
      cost and expense of the Pledgors.

     

     

    ARTICLE
      IV                                

     

    REPRESENTATIONS,
      WARRANTIES AND COVENANTS

     

    Each
      Pledgor represents, warrants and covenants as follows:

     

    SECTION
      4.1.  Title

     

    .  Except
      for the security interest granted to the Collateral Agent for the ratable
      benefit of the Secured Parties pursuant to this Agreement and Permitted Liens,
      such Pledgor owns and has rights and, as to Pledged Collateral acquired by
      it
      from time to time after the date hereof, will own and have rights in each item
      of Pledged Collateral pledged by it hereunder, free and clear of any and all
      Liens or claims of others.  In addition, no Liens or claims exist on
      the Securities Collateral, other than as permitted by Section 6.02
      of the Credit Agreement.

     

    SECTION
      4.2.  Validity
      of Security Interest

     

    .  The
      security interest in and Lien on the Pledged Collateral granted to the
      Collateral Agent for the benefit of the Secured Parties hereunder constitutes
      (a) a legal and valid security interest in all the Pledged Collateral
      securing the payment and performance of the Secured Obligations, and (b) subject
      to the filings and other actions described in Schedule 6 to the
      Perfection Certificate (to the extent required to be listed on the schedules
      to
      the Perfection Certificate as of the date this representation is made or deemed
      made), a perfected security interest in all the Pledged
      Collateral.  The security interest and Lien granted to the Collateral
      Agent for the benefit of the Secured Parties pursuant to this Agreement in
      and
      on the Pledged Collateral will at all times constitute a perfected, continuing
      security interest therein, prior to all other Liens on the Pledged Collateral
      except for Permitted Collateral Liens.

     

    SECTION
      4.3.  Defense
      of Claims; Transferability of Pledged Collateral

     

    .  Subject
      to Section 5.05 of the Credit Agreement, each Pledgor shall, at its own
      cost and expense, defend title to the Pledged Collateral pledged by it hereunder
      and the security interest therein and Lien thereon granted to the Collateral
      Agent and the priority thereof against all claims and demands of all persons,
      at
      its own cost and expense, at any time claiming any interest therein adverse
      to
      the Collateral Agent or any other Secured Party other than Permitted Collateral
      Liens.  There is no agreement, order, judgment or decree, and no
      Pledgor shall enter into any agreement or take any other action, that would
      restrict the transferability of any of the Pledged Collateral or otherwise
      impair or conflict with such Pledgor’s obligations or the rights of the
      Collateral Agent hereunder.

     

    SECTION
      4.4.  Other
      Financing Statements

     

    .  It
      has not filed, nor authorized any third party to file (nor will there be),
      any
      valid or effective financing statement (or similar statement, instrument of
      registration or public notice under the law of any jurisdiction) covering or
      purporting to cover any interest of any kind in the Pledged Collateral, except
      such as have been filed in favor of the Collateral Agent pursuant to this
      Agreement or in favor of any holder of a Permitted Collateral Lien with respect
      to such Permitted Collateral Lien or financing statements or public notices
      relating to the termination statements listed on Schedule 7 to the
      Perfection Certificate.  No Pledgor shall execute, authorize or permit
      to be filed in any public office any financing statement (or similar statement,
      instrument of registration or public notice under the law of any jurisdiction)
      relating to any Pledged Collateral, except financing statements and other
      statements and instruments filed or to be filed in respect of and covering
      the
      security interests granted by such Pledgor to the holder of the Permitted
      Collateral Liens.

     

    SECTION
      4.5.  Location
      of Inventory and Equipment.

     

      Except
      in the ordinary course of business of such Pledgor, it shall not move any
      Equipment or Inventory to any location, other than any location that is listed
      in the relevant Schedules to the Perfection Certificate, unless (i) it shall
      have given the Collateral Agent not less than 30 days’ (or such shorter period
      as may be determined by the Collateral Agent in its sole discretion) prior
      written notice (in the form of an Officers’ Certificate) of its intention so to
      do, clearly describing such new location and providing such other information
      in
      connection therewith as the Collateral Agent may request and (ii) to the extent
      applicable with respect to such new location, such Pledgor shall have complied
      with Section 3.4(g); provided that in no event shall Equipment or
      Inventory with an aggregate fair market value (as determined by the Collateral
      Agent) exceeding $10.0 million (for all such Equipment or Inventory moved to
      locations outside of the continental United States since the Closing Date),
      be
      moved to any location outside of the continental United States.

     

    SECTION
      4.6.  Due
      Authorization and Issuance

     

    .  All
      of the Pledged Securities existing on the date hereof have been, and to the
      extent any Pledged Securities are hereafter issued, such Pledged Securities
      will
      be, upon such issuance, duly authorized, validly issued and fully paid and
      non-assessable to the extent applicable.  There is no amount or other
      obligation owing by any Pledgor to any issuer of the Pledged Securities in
      exchange for or in connection with the issuance of the Pledged Securities or
      any
      Pledgor’s status as a partner or a member of any issuer of the Pledged
      Securities.

     

    SECTION
      4.7.  Consents,
      etc.

     

      In
      the event that the Collateral Agent desires to exercise any remedies, voting
      or
      consensual rights or attorney-in-fact powers set forth in this Agreement and
      determines it necessary to obtain any approvals or consents of any Governmental
      Authority or any other person therefor, then, upon the reasonable request of
      the
      Collateral Agent, such Pledgor agrees to use commercially reasonable efforts
      to
      assist and aid the Collateral Agent to obtain as soon as practicable any
      necessary approvals or consents for the exercise of any such remedies, rights
      and powers.

     

    SECTION
      4.8.  Pledged
      Collateral

     

    .  All
      information set forth herein, including the schedules hereto, and all
      information contained in any documents, schedules and lists heretofore delivered
      to any Secured Party, including the Perfection Certificate and the schedules
      thereto, in connection with this Agreement, in each case, relating to the
      Pledged Collateral, is accurate and complete in all material
      respects.  The Pledged Collateral described on the schedules to the
      Perfection Certificate constitutes all of the property of such type of Pledged
      Collateral owned or held by the Pledgors.

     

    SECTION
      4.9.  Insurance

     

    .  In
      the event that the proceeds of any insurance claim are paid to any Pledgor
      after
      the Collateral Agent has exercised its right to foreclose after an Event of
      Default, such Net Cash Proceeds shall be held in trust for the benefit of the
      Collateral Agent and immediately after receipt thereof shall be paid to the
      Collateral Agent for application in accordance with the Credit
      Agreement.

     

     

    ARTICLE
      V                                

     

    CERTAIN
      PROVISIONS CONCERNING SECURITIES COLLATERAL

     

    SECTION
      5.1.  Pledge
      of Additional Securities Collateral

     

    .  Each
      Pledgor shall, upon obtaining any Pledged Securities or Intercompany Notes
      of
      any person, accept the same in trust for the benefit of the Collateral Agent
      and
      promptly (but in any event within 30 days (or such longer period as may be
      determined by the Collateral Agent in its sole discretion) after receipt
      thereof) deliver to the Collateral Agent a pledge amendment, duly executed
      by
      such Pledgor, in substantially the form of Exhibit 2 hereto (each, a
“Pledge Amendment”), and the certificates and other documents required
      under Section 3.1 and Section 3.2 hereof in respect of the
      additional Pledged Securities or Intercompany Notes which are to be pledged
      pursuant to this Agreement, and confirming the attachment of the Lien hereby
      created on and in respect of such additional Pledged Securities or Intercompany
      Notes.  Each Pledgor hereby authorizes the Collateral Agent to attach
      each Pledge Amendment to this Agreement and agrees that all Pledged Securities
      or Intercompany Notes listed on any Pledge Amendment delivered to the Collateral
      Agent shall for all purposes hereunder be considered Pledged
      Collateral.

     

    SECTION
      5.2.  Voting
      Rights; Distributions; etc.

     

    (a)  So
      long
      as no Event of Default shall have occurred and be continuing:

     

    (i)  Each
      Pledgor shall be entitled to exercise any and all voting and other consensual
      rights pertaining to the Securities Collateral or any part thereof for any
      purpose not inconsistent with the terms or purposes hereof, the Credit Agreement
      or any other document evidencing the Secured Obligations; provided,
however, that no Pledgor shall in any event exercise such rights in
      any
      manner which could reasonably be expected to have a Material Adverse
      Effect.

     

    (ii)  Each
      Pledgor shall be entitled to receive and retain, and to utilize free and clear
      of the Lien hereof, any and all Distributions, but only if and to the extent
      not
      prohibited by the Credit Agreement; provided, however, that any
      and all such Distributions consisting of rights or interests in the form of
      securities shall be forthwith delivered to the Collateral Agent to hold as
      Pledged Collateral and shall, if received by any Pledgor, be received in trust
      for the benefit of the Collateral Agent, be segregated from the other property
      or funds of such Pledgor and be promptly (but in any event within five days
      (or
      such longer period as may be determined by the Collateral Agent in its sole
      discretion) after receipt thereof) delivered to the Collateral Agent as Pledged
      Collateral in the same form as so received (with any necessary
      endorsement).

     

    (b)  So
      long
      as no Event of Default shall have occurred and be continuing, the Collateral
      Agent shall be deemed without further action or formality to have granted to
      each Pledgor all necessary consents relating to voting rights and shall,
      if necessary, upon written request of any Pledgor and at the sole cost and
      expense of the Pledgors, from time to time execute and deliver (or cause to
      be
      executed and delivered) to such Pledgor all such instruments as such Pledgor
      may
      reasonably request in order to permit such Pledgor to exercise the voting and
      other rights which it is entitled to exercise pursuant to
Section 5.2(a)(i) hereof and to receive the Distributions which it
      is authorized to receive and retain pursuant to Section 5.2(a)(ii)
      hereof.

     

    (c)  Upon
      the
      occurrence and during the continuance of any Event of Default:

     

    (i)  All
      rights of each Pledgor to exercise the voting and other consensual rights it
      would otherwise be entitled to exercise pursuant to
Section 5.2(a)(i) hereof shall immediately cease, and all such
      rights shall thereupon become vested in the Collateral Agent, which shall
      thereupon have the sole right to exercise such voting and other consensual
      rights.

     

    (ii)  All
      rights of each Pledgor to receive Distributions which it would otherwise be
      authorized to receive and retain pursuant to Section 5.2(a)(ii)
      hereof shall immediately cease and all such rights shall thereupon become vested
      in the Collateral Agent, which shall thereupon have the sole right to receive
      and hold as Pledged Collateral such Distributions.

     

    (d)  Each
      Pledgor shall, at its sole cost and expense, from time to time execute and
      deliver to the Collateral Agent appropriate instruments as the Collateral Agent
      may request in order to permit the Collateral Agent to exercise the voting
      and
      other rights which it may be entitled to exercise pursuant to
Section 5.2(c)(i) hereof and to receive all Distributions which it
      may be entitled to receive under Section 5.2(c)(ii)
      hereof.

     

    (e)  All
      Distributions which are received by any Pledgor contrary to the provisions
      of
Section 5.2(c)(ii) hereof shall be received in trust for the benefit
      of the Collateral Agent, shall be segregated from other funds of such Pledgor
      and shall immediately be paid over to the Collateral Agent as Pledged Collateral
      in the same form as so received (with any necessary endorsement).

     

    SECTION
      5.3.  Defaults,
      etc

     

    .  Such
      Pledgor is not in default in the payment of any portion of any mandatory capital
      contribution, if any, required to be made under any agreement to which such
      Pledgor is a party relating to the Pledged Securities pledged by it, and such
      Pledgor is not in violation of any other provisions of any such agreement to
      which such Pledgor is a party, or otherwise in default or violation
      thereunder.  No Securities Collateral pledged by such Pledgor is
      subject to any defense, offset or counterclaim, nor have any of the foregoing
      been asserted or alleged against such Pledgor by any person with respect
      thereto, and as of the date hereof, there are no certificates, instruments,
      documents or other writings (other than the Organizational Documents and
      certificates representing such Pledged Securities that have been delivered
      to
      the Collateral Agent) which evidence any Pledged Securities of such
      Pledgor.

     

    SECTION
      5.4.  Certain
      Agreements of Pledgors As Issuers and Holders of Equity
      Interests

     

    (a)  In
      the
      case of each Pledgor which is an issuer of Securities Collateral, such Pledgor
      agrees to be bound by the terms of this Agreement relating to the Securities
      Collateral issued by it and will comply with such terms insofar as such terms
      are applicable to it.

     

    (b)  In
      the
      case of each Pledgor which is a partner, shareholder or member, as the case
      may
      be, in a partnership, limited liability company or other entity, such Pledgor
      hereby consents to the extent required by the applicable Organizational Document
      to the pledge by each other Pledgor, pursuant to the terms hereof, of the
      Pledged Securities in such partnership, limited liability company or other
      entity and, upon the occurrence and during the continuance of an Event of
      Default, to the transfer of such Pledged Securities to the Collateral Agent
      or
      its nominee and to the substitution of the Collateral Agent or its nominee
      as a
      substituted partner, shareholder or member in such partnership, limited
      liability company or other entity with all the rights, powers and duties of
      a
      general partner, limited partner, shareholder or member, as the case may
      be.

     

     

    ARTICLE
      VI                                

     

    CERTAIN
      PROVISIONS CONCERNING INTELLECTUAL PROPERTY
      COLLATERAL

     

    SECTION
      6.1.  Grant
      of Intellectual Property License

     

    .  For
      the purpose of enabling the Collateral Agent, during the continuance of an
      Event
      of Default, to exercise rights and remedies under Article IX hereof at
      such time as the Collateral Agent shall be lawfully entitled to exercise such
      rights and remedies, and for no other purpose, each Pledgor hereby grants to
      the
      Collateral Agent, to the extent assignable, an irrevocable, non-exclusive
      license to use, assign, license or sublicense any of the Intellectual Property
      Collateral now owned or hereafter acquired by such Pledgor, wherever the same
      may be located; provided that the quality of any products in connection
      with which the Trademarks are used will not be materially inferior to the
      quality of such products prior to such Event of Default.  Such license
      shall include access to all media in which any of the licensed items may be
      recorded or stored and to all computer programs used for the compilation or
      printout hereof.

     

    SECTION
      6.2.  Protection
      of Collateral Agent’s Security

     

    .  On
      a continuing basis, each Pledgor shall, at its sole cost and expense, (i)
      promptly following its becoming aware thereof, notify the Collateral Agent
      of
      any adverse determination in any proceeding or the institution of any proceeding
      in any federal, state or local court or administrative body or in the United
      States Patent and Trademark Office or the United States Copyright Office
      regarding any Material Intellectual Property Collateral, such Pledgor’s right to
      register such Material Intellectual Property Collateral or its right to keep
      and
      maintain such registration in full force and effect, (ii) maintain all
      Material Intellectual Property Collateral as presently used and operated, except
      as shall be consistent with commercially reasonable business judgment,
      (iii) not permit to lapse or become abandoned any Material Intellectual
      Property Collateral, and not settle or compromise any pending or future
      litigation or administrative proceeding with respect to any such Material
      Intellectual Property Collateral, in either case except as shall be consistent
      with commercially reasonable business judgment, (iv) upon such Pledgor
      obtaining knowledge thereof, promptly notify the Collateral Agent in writing
      of
      any event which may be reasonably expected to materially and adversely affect
      the value or utility of any Material Intellectual Property Collateral or the
      rights and remedies of the Collateral Agent in relation thereto including a
      levy
      or threat of levy or any legal process against any Material Intellectual
      Property Collateral, (v) not license any Intellectual Property Collateral
      other than licenses entered into by such Pledgor in, or incidental to, the
      ordinary course of business, or amend or permit the amendment of any of the
      licenses in a manner that materially and adversely affects the right to receive
      payments thereunder, or in any manner that would materially impair the value
      of
      any Intellectual Property Collateral or the Lien on and security interest in
      the
      Intellectual Property Collateral created therein hereby, without the consent
      of
      the Collateral Agent, (vi) diligently keep adequate records respecting all
      Intellectual Property Collateral and (vii) furnish to the Collateral Agent
      from time to time upon the Collateral Agent’s request therefor reasonably
      detailed statements and amended schedules further identifying and describing
      the
      Intellectual Property Collateral and such other materials evidencing or reports
      pertaining to any Intellectual Property Collateral as the Collateral Agent
      may
      from time to time request.

     

    SECTION
      6.3.  After-Acquired
      Property

     

    .  If
      any Pledgor shall at any time after the date hereof (i) obtain any rights to
      any
      additional Intellectual Property Collateral (including trademark applications
      for which evidence of the use of such trademarks in interstate commerce has
      been
      submitted to and accepted by the United States Patent and Trademark Office
      pursuant to 15 U.S.C. Section 1060(a) (or a successor provision)) or
      (ii) become entitled to the benefit of any additional Intellectual Property
      Collateral or any renewal or extension thereof, including any reissue, division,
      continuation, or continuation-in-part of any Intellectual Property Collateral,
      or any improvement on any Intellectual Property Collateral, the provisions
      hereof shall automatically apply thereto and any such item enumerated in the
      preceding clause (i) or (ii) shall automatically constitute Intellectual
      Property Collateral as if such would have constituted Intellectual Property
      Collateral at the time of execution hereof and be subject to the Lien and
      security interest created by this Agreement without further action by any
      party.  Each Pledgor shall, within 45 days after the end of each of
      the first three fiscal quarters of each fiscal year of Borrower, and within
      90
      days after the end of each fiscal year of Borrower, promptly provide to the
      Collateral Agent written notice of any of the foregoing and confirm the
      attachment of the Lien and security interest created by this Agreement to any
      rights described in clauses (i) and (ii) above by execution of an instrument
      in
      form reasonably acceptable to the Collateral Agent and the filing of any
      instruments or statements as shall be reasonably necessary to create, preserve,
      protect or perfect the Collateral Agent’s security interest in such Intellectual
      Property Collateral.  Further, each Pledgor authorizes the Collateral
      Agent to modify this Agreement by amending Schedules 13(a) and
13(b) to the Perfection Certificate to include any Intellectual
      Property
      Collateral of such Pledgor acquired or arising after the date
      hereof.

     

    SECTION
      6.4.  Litigation

     

    .  Unless
      there shall occur and be continuing any Event of Default, each Pledgor shall
      have the right to commence and prosecute in its own name, as the party in
      interest, for its own benefit and at the sole cost and expense of the Pledgors,
      such applications for protection of the Intellectual Property Collateral and
      suits, proceedings or other actions to prevent the infringement, counterfeiting,
      unfair competition, dilution, diminution in value or other damage as are
      necessary to protect the Intellectual Property Collateral.  Upon the
      occurrence and during the continuance of any Event of Default, the Collateral
      Agent shall have the right but shall in no way be obligated to file applications
      for protection of the Intellectual Property Collateral and/or bring suit in
      the
      name of any Pledgor, the Collateral Agent or the Secured Parties to enforce
      the
      Intellectual Property Collateral and any license thereunder.  In the
      event of such suit, each Pledgor shall, at the reasonable request of the
      Collateral Agent, do any and all lawful acts and execute any and all documents
      requested by the Collateral Agent in aid of such enforcement and the Pledgors
      shall promptly reimburse and indemnify the Collateral Agent for all costs and
      expenses incurred by the Collateral Agent in the exercise of its rights under
      this Section 6.4 in accordance with Section 10.03 of the
      Credit Agreement.  In the event that the Collateral Agent shall elect
      not to bring suit to enforce the Intellectual Property Collateral, each Pledgor
      agrees, at the reasonable request of the Collateral Agent, to take all
      commercially reasonable actions necessary, whether by suit, proceeding or other
      action, to prevent the infringement, counterfeiting, unfair competition,
      dilution, diminution in value of or other damage to any of the Intellectual
      Property Collateral by any person.

     

     

    ARTICLE
      VII                                

     

    CERTAIN
      PROVISIONS CONCERNING RECEIVABLES

     

    SECTION
      7.1.  Maintenance
      of Records

     

    .  Each
      Pledgor shall keep and maintain at its own cost and expense complete records
      of
      each Receivable, in a manner consistent with prudent business practice,
      including records of all payments received, all credits granted thereon, all
      merchandise returned and all other documentation relating
      thereto.  Each Pledgor shall, at such Pledgor’s sole cost and expense,
      upon the Collateral Agent’s demand made at any time after the occurrence and
      during the continuance of any Event of Default, deliver all tangible evidence
      of
      Receivables, including all documents evidencing Receivables and any books and
      records relating thereto to the Collateral Agent or to its representatives
      (copies of which evidence and books and records may be retained by such
      Pledgor).  Upon the occurrence and during the continuance of any Event
      of Default, the Collateral Agent may transfer a full and complete copy of any
      Pledgor’s books, records, credit information, reports, memoranda and all other
      writings relating to the Receivables to and for the use by any person that
      has
      acquired or is contemplating acquisition of an interest in the Receivables
      or
      the Collateral Agent’s security interest therein without the consent of any
      Pledgor.

     

    SECTION
      7.2.  Modification
      of Terms, etc

     

    .  No
      Pledgor shall rescind or cancel any obligations evidenced by any Receivable
      or
      modify any term thereof or make any adjustment with respect thereto except
      in
      the ordinary course of business consistent with prudent business practice,
      or
      extend or renew any such obligations except in the ordinary course of business
      consistent with prudent business practice or compromise or settle any dispute,
      claim, suit or legal proceeding relating thereto or sell any Receivable or
      interest therein except in the ordinary course of business consistent with
      prudent business practice without the prior written consent of the Collateral
      Agent.  Each Pledgor shall timely fulfill all obligations on its part
      to be fulfilled under or in connection with the Receivables.

     

    SECTION
      7.3.  Collection

     

    .  Each
      Pledgor shall cause to be collected from the Account Debtor of each of the
      Receivables, as and when due in the ordinary course of business and consistent
      with prudent business practice (including Receivables that are delinquent,
      such
      Receivables to be collected in accordance with generally accepted commercial
      collection procedures), any and all amounts owing under or on account of such
      Receivable, and apply forthwith upon receipt thereof all such amounts as are
      so
      collected to the outstanding balance of such Receivable, except that any Pledgor
      may, with respect to a Receivable, allow in the ordinary course of business
      (i)
      a refund or credit due as a result of returned or damaged or defective
      merchandise and (ii) such extensions of time to pay amounts due in respect
      of
      Receivables and such other modifications of payment terms or settlements in
      respect of Receivables as shall be commercially reasonable in the circumstances,
      all in accordance with such Pledgor’s ordinary course of business consistent
      with its collection practices as in effect from time to time.  The
      costs and expenses (including attorneys’ fees) of collection, in any case,
      whether incurred by any Pledgor, the Collateral Agent or any Secured Party,
      shall be paid by the Pledgors.

     

     

    ARTICLE
      VIII                                

     

    TRANSFERS

     

    SECTION
      8.1.  Transfers
      of Pledged Collateral

     

    .  No
      Pledgor shall sell, convey, assign or otherwise dispose of, or grant any option
      with respect to, any of the Pledged Collateral pledged by it hereunder except
      as
      not prohibited by the Credit Agreement.

     

     

    ARTICLE
      IX                                

     

    REMEDIES

     

    SECTION
      9.1.  Remedies

     

    .  Upon
      the occurrence and during the continuance of any Event of Default, the
      Collateral Agent may from time to time exercise in respect of the Pledged
      Collateral, in addition to the other rights and remedies provided for herein
      or
      otherwise available to it, the following remedies:

     

    (i)  Personally,
      or by agents or attorneys, immediately take possession of the Pledged Collateral
      or any part thereof, from any Pledgor 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 any Pledgor’s premises where any of the Pledged
      Collateral is located, remove such Pledged Collateral, remain present at such
      premises to receive copies of all communications and remittances relating to
      the
      Pledged Collateral and use in connection with such removal and possession any
      and all services, supplies, aids and other facilities of any
      Pledgor;

     

    (ii)  Demand,
      sue for, collect or receive any money or property at any time payable or
      receivable in respect of the Pledged Collateral including instructing the
      obligor or obligors on any agreement, instrument or other obligation
      constituting part of the Pledged Collateral to make any payment required by
      the
      terms of such agreement, instrument or other obligation directly to the
      Collateral Agent, and in connection with any of the foregoing, compromise,
      settle, extend the time for payment and make other modifications with respect
      thereto; provided, however, that in the event that any such
      payments are made directly to any Pledgor, prior to receipt by any such obligor
      of such instruction, such Pledgor shall segregate all amounts received pursuant
      thereto in trust for the benefit of the Collateral Agent and shall promptly
      (but
      in no event later than one Business Day after receipt thereof) pay such amounts
      to the Collateral Agent;

     

    (iii)  Sell,
      assign, grant a license to use or otherwise liquidate, or direct any Pledgor
      to
      sell, assign, grant a license to use or otherwise liquidate, any and all
      investments made in whole or in part with the Pledged Collateral or any part
      thereof, and take possession of the proceeds of any such sale, assignment,
      license or liquidation;

     

    (iv)  Take
      possession of the Pledged Collateral or any part thereof, by directing any
      Pledgor in writing to deliver the same to the Collateral Agent at any place
      or
      places so designated by the Collateral Agent, in which event such Pledgor shall
      at its own expense:  (A) forthwith cause the same to be moved to
      the place or places designated by the Collateral Agent and therewith delivered
      to the Collateral Agent, (B) store and keep any Pledged Collateral so
      delivered to the Collateral Agent at such place or places pending further action
      by the Collateral Agent and (C) while the Pledged Collateral shall be so
      stored and kept, provide such security and maintenance services as shall be
      necessary to protect the same and to preserve and maintain them in good
      condition.  Each Pledgor’s obligation to deliver the Pledged
      Collateral as contemplated in this Section 9.1(iv) is of the essence
      hereof.  Upon application to a court of equity having jurisdiction,
      the Collateral Agent shall be entitled to a decree requiring specific
      performance by any Pledgor of such obligation;

     

    (v)  Withdraw
      all moneys, instruments, securities and other property in any bank, financial
      securities, deposit or other account of any Pledgor constituting Pledged
      Collateral for application to the Secured Obligations as provided in Article
      X hereof;

     

    (vi)  Retain
      and apply the Distributions to the Secured Obligations as provided in
Article X hereof;

     

    (vii)  Exercise
      any and all rights as beneficial and legal owner of the Pledged Collateral,
      including perfecting assignment of and exercising any and all voting, consensual
      and other rights and powers with respect to any Pledged Collateral;
      and

     

    (viii)  Exercise
      all the rights and remedies of a secured party on default under the UCC, and
      the
      Collateral Agent may also in its sole discretion, without notice except as
      specified in Section 9.2 hereof, sell, assign or grant a license to
      use the Pledged Collateral or any part thereof in one or more parcels at public
      or private sale, at any exchange, broker’s board or at any of the Collateral
      Agent’s offices or elsewhere, for cash, on credit or for future delivery, and at
      such price or prices and upon such other terms as the Collateral Agent may
      deem
      commercially reasonable.  The Collateral Agent or any other Secured
      Party or any of their respective Affiliates may be the purchaser, licensee,
      assignee or recipient of the Pledged Collateral or any part thereof at any
      such
      sale and shall be entitled, for the purpose of bidding and making settlement
      or
      payment of the purchase price for all or any portion of the Pledged Collateral
      sold, assigned or licensed at such sale, to use and apply any of the Secured
      Obligations owed to such person as a credit on account of the purchase price
      of
      the Pledged Collateral or any part thereof payable by such person at such
      sale.  Each purchaser, assignee, licensee or recipient at any such
      sale shall acquire the property sold, assigned or licensed absolutely free
      from
      any claim or right on the part of any Pledgor, and each Pledgor hereby waives,
      to the fullest extent permitted by law, all rights of redemption, stay and/or
      appraisal which it now has or may at any time in the future have under any
      rule
      of law or statute now existing or hereafter enacted.  The Collateral
      Agent shall not be obligated to make any sale of the Pledged Collateral or
      any
      part thereof regardless of notice of sale having been given.  The
      Collateral Agent may adjourn any public or private sale from time to time by
      announcement at the time and place fixed therefor, and such sale may, without
      further notice, be made at the time and place to which it was so
      adjourned.  Each Pledgor hereby waives, to the fullest extent
      permitted by law, any claims against the Collateral Agent arising by reason
      of
      the fact that the price at which the Pledged Collateral or any part thereof
      may
      have been sold, assigned or licensed at such a private sale was less than the
      price which might have been obtained at a public sale, even if the Collateral
      Agent accepts the first offer received and does not offer such Pledged
      Collateral to more than one offeree.

     

    SECTION
      9.2.  Notice
      of Sale

     

    .  Each
      Pledgor acknowledges and agrees that, to the extent notice of sale or other
      disposition of the Pledged Collateral or any part thereof shall be required
      by
      law, 10 days’ prior notice to such Pledgor of the time and place of any public
      sale or of the time after which any private sale or other intended disposition
      is to take place shall be commercially reasonable notification of such
      matters.  No notification need be given to any Pledgor if it has
      signed, after the occurrence of an Event of Default, a statement renouncing
      or
      modifying any right to notification of sale or other intended
      disposition.

     

    SECTION
      9.3.  Waiver
      of Notice and Claims

     

    .  Each
      Pledgor hereby waives, to the fullest extent permitted by applicable law, notice
      or judicial hearing in connection with the Collateral Agent’s taking possession
      or the Collateral Agent’s disposition of the Pledged Collateral or any part
      thereof, including any and all prior notice and hearing for any prejudgment
      remedy or remedies and any such right which such Pledgor would otherwise have
      under law, and each Pledgor hereby further waives, to the fullest extent
      permitted by applicable law:  (i) all damages occasioned by such
      taking of possession, (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,
      appraisal, valuation, stay, extension or moratorium now or hereafter in force
      under any applicable law.  The Collateral Agent shall not be liable
      for any incorrect or improper payment made pursuant to this
Article IX in the absence of gross negligence or willful misconduct
      on the part of the Collateral Agent.  Any sale of, or the grant of
      options to purchase, or any other realization upon, any Pledged Collateral
      shall
      operate to divest all right, title, interest, claim and demand, either at law
      or
      in equity, of the applicable Pledgor therein and thereto, and shall be a
      perpetual bar both at law and in equity against such Pledgor and against any
      and
      all persons claiming or attempting to claim the Pledged Collateral so sold,
      optioned or realized upon, or any part thereof, from, through or under such
      Pledgor.

     

    SECTION
      9.4.  Certain
      Sales of Pledged Collateral

     

    .

     

    (a)  Each
      Pledgor recognizes that, by reason of certain prohibitions contained in law,
      rules, regulations or orders of any Governmental Authority, the Collateral
      Agent
      may be compelled, with respect to any sale of all or any part of the Pledged
      Collateral, to limit purchasers to those who meet the requirements of such
      Governmental Authority.  Each Pledgor acknowledges that any such sales
      may be at prices and on terms less favorable to the Collateral Agent than those
      obtainable through a public sale without such restrictions, and, notwithstanding
      such circumstances, agrees that any such restricted sale shall be deemed to
      have
      been made in a commercially reasonable manner and that, except as may be
      required by applicable law, the Collateral Agent shall have no obligation to
      engage in public sales.

     

    (b)  Each
      Pledgor recognizes that, by reason of certain prohibitions contained in the
      Securities Act, and applicable state securities laws, the Collateral Agent
      may
      be compelled, with respect to any sale of all or any part of the Securities
      Collateral and Investment Property, to limit purchasers to persons who will
      agree, among other things, to acquire such Securities Collateral or
      Investment  Property for their own account, for investment and not
      with a view to the distribution or resale thereof.  Each Pledgor
      acknowledges that any such private sales may be at prices and on terms less
      favorable to the Collateral Agent than those obtainable through a public sale
      without such restrictions (including a public offering made pursuant to a
      registration statement under the Securities Act), and, notwithstanding such
      circumstances, agrees that any such private sale shall be deemed to have been
      made in a commercially reasonable manner and that the Collateral Agent shall
      have no obligation to engage in public sales and no obligation to delay the
      sale
      of any Securities Collateral or Investment Property for the period of time
      necessary to permit the issuer thereof to register it for a form of public
      sale
      requiring registration under the Securities Act or under applicable state
      securities laws, even if such issuer would agree to do so.

     

    (c)  Notwithstanding
      the foregoing, each Pledgor shall, upon the occurrence and during the
      continuance of any Event of Default, at the reasonable request of the Collateral
      Agent, for the benefit of the Collateral Agent, cause any registration,
      qualification under or compliance with any Federal or state securities law
      or
      laws to be effected with respect to all or any part of the Securities Collateral
      as soon as practicable and at the sole cost and expense of the
      Pledgors.  Each Pledgor will use its commercially reasonable efforts
      to cause such registration to be effected (and be kept effective) and will
      use
      its commercially reasonable 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 Securities Collateral
      including registration under the Securities Act (or any similar statute then
      in
      effect), appropriate qualifications under applicable blue sky or other state
      securities laws and appropriate compliance with all other requirements of any
      Governmental Authority.  Each Pledgor shall use its commercially
      reasonable efforts to cause the Collateral Agent to be kept advised in writing
      as to the progress of each such registration, qualification or compliance and
      as
      to the completion thereof, shall furnish to the Collateral Agent such number
      of
      prospectuses, offering circulars or other documents incident thereto as the
      Collateral Agent from time to time may request, and shall indemnify and shall
      cause the issuer of the Securities Collateral to indemnify the Collateral Agent
      and all others participating in the distribution of such Securities Collateral
      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.

     

    (d)  If
      the
      Collateral Agent determines to exercise its right to sell any or all of the
      Securities Collateral or Investment Property, upon written request, the
      applicable Pledgor shall from time to time furnish to the Collateral Agent
      all
      such information as the Collateral Agent may request in order to determine
      the
      number of securities included in the Securities Collateral or Investment
      Property which may be sold by the Collateral Agent as exempt transactions under
      the Securities Act and the rules of the Securities and Exchange Commission
      thereunder, as the same are from time to time in effect.

     

    (e)  Each
      Pledgor further agrees that a breach of any of the covenants contained in this
      Section 9.4 will cause irreparable injury to the Collateral Agent and the
      other Secured Parties, that the Collateral Agent and the other Secured Parties
      have no adequate remedy at law in respect of such breach and, as a consequence,
      that each and every covenant contained in this Section 9.4 shall be
      specifically enforceable against such Pledgor, and such Pledgor hereby waives
      and agrees not to assert any defenses against an action for specific performance
      of such covenants except for a defense that no Event of Default has occurred
      and
      is continuing.

     

    SECTION
      9.5.  No
      Waiver; Cumulative Remedies

     

    (a)  No
      failure on the part of the Collateral Agent to exercise, no course of dealing
      with respect to, and no delay on the part of the Collateral Agent 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, privilege or
      remedy hereunder preclude any other or further exercise thereof or the exercise
      of any other right, power, privilege or remedy; nor shall the Collateral Agent
      be required to look first to, enforce or exhaust any other security, collateral
      or guaranties.  All rights and remedies herein provided are cumulative
      and are not exclusive of any rights or remedies provided by law or otherwise
      available.

     

    (b)  In
      the
      event that the Collateral Agent shall have instituted any proceeding to enforce
      any right, power, privilege or remedy under this Agreement or any other Loan
      Document 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 Pledgors,
      the Collateral Agent and each other Secured Party shall be restored to their
      respective former positions and rights hereunder with respect to the Pledged
      Collateral, and all rights, remedies, privileges and powers of the Collateral
      Agent and the other Secured Parties shall continue as if no such proceeding
      had
      been instituted.

     

    SECTION
      9.6.  Certain
      Additional Actions Regarding Intellectual Property

     

    .  If
      any Event of Default shall have occurred and be continuing, upon the written
      demand of the Collateral Agent, each Pledgor shall execute and deliver to the
      Collateral Agent an assignment or assignments of the registered Patents,
      Trademarks and/or Copyrights and Goodwill and such other documents as are
      necessary or appropriate to carry out the intent and purposes
      hereof.  Within five Business Days of written notice thereafter from
      the Collateral Agent, each Pledgor shall make available to the Collateral Agent,
      to the extent within such Pledgor’s power and authority, such personnel in such
      Pledgor’s employ on the date of the Event of Default as the Collateral Agent may
      reasonably designate to permit such Pledgor to continue, directly or indirectly,
      to produce, advertise and sell the products and services sold by such Pledgor
      under the registered Patents, Trademarks and/or Copyrights, and such persons
      shall be available to perform their prior functions on the Collateral Agent’s
      behalf.

     

     

    ARTICLE
      X                                

     

    APPLICATION
      OF PROCEEDS

     

    SECTION
      10.1.  Application
      of Proceeds

     

    .  The
      proceeds received by the Collateral Agent in respect of any sale of, collection
      from or other realization upon all or any part of the Pledged Collateral
      pursuant to the exercise by the Collateral Agent of its remedies shall be
      applied, together with any other sums then held by the Collateral Agent pursuant
      to this Agreement, in accordance with the Credit Agreement.

     

     

    ARTICLE
      XI                                

     

    MISCELLANEOUS

     

    SECTION
      11.1.  Concerning
      Collateral Agent

     

    (a)  The
      Collateral Agent has been appointed as collateral agent pursuant to the Credit
      Agreement.  The actions of the Collateral Agent hereunder are subject
      to the provisions of the Credit Agreement.  The Collateral Agent shall
      have the right hereunder to make demands, to give notices, to exercise or
      refrain from exercising any rights, and to take or refrain from taking action
      (including the release or substitution of the Pledged Collateral), in accordance
      with this Agreement and the Credit Agreement.  The Collateral Agent
      may employ agents and attorneys-in-fact in connection herewith and shall not
      be
      liable for the negligence or misconduct of any such agents or attorneys-in-fact
      selected by it in good faith.  The Collateral Agent may resign and a
      successor Collateral Agent may be appointed in the manner provided in the Credit
      Agreement.  Upon the acceptance of any appointment as the Collateral
      Agent by a successor Collateral Agent, that successor Collateral Agent shall
      thereupon succeed to and become vested with all the rights, powers, privileges
      and duties of the retiring Collateral Agent under this Agreement, and the
      retiring Collateral Agent shall thereupon be discharged from its duties and
      obligations under this Agreement.  After any retiring Collateral
      Agent’s resignation, the provisions hereof shall inure to its benefit as to any
      actions taken or omitted to be taken by it under this Agreement while it was
      the
      Collateral Agent.

     

    (b)  The
      Collateral Agent shall be deemed to have exercised reasonable care in the
      custody and preservation of the Pledged Collateral in its possession if such
      Pledged Collateral is accorded treatment substantially equivalent to that which
      the Collateral Agent, in its individual capacity, accords its own property
      consisting of similar instruments or interests, it being understood that neither
      the Collateral Agent nor any of the Secured Parties shall have responsibility
      for (i) ascertaining or taking action with respect to calls, conversions,
      exchanges, maturities, tenders or other matters relating to any Securities
      Collateral, whether or not the Collateral Agent or any other Secured Party
      has
      or is deemed to have knowledge of such matters or (ii) taking any necessary
      steps to preserve rights against any person with respect to any Pledged
      Collateral.

     

    (c)  The
      Collateral Agent shall be entitled to rely upon any written notice, statement,
      certificate, order or other document or any telephone message believed by it
      to
      be genuine and correct and to have been signed, sent or made by the proper
      person, and, with respect to all matters pertaining to this Agreement and its
      duties hereunder, upon advice of counsel selected by it.

     

    (d)  If
      any
      item of Pledged Collateral also constitutes collateral granted to the Collateral
      Agent under any other deed of trust, mortgage, security agreement, pledge or
      instrument of any type, in the event of any conflict between the provisions
      hereof and the provisions of such other deed of trust, mortgage, security
      agreement, pledge or instrument of any type in respect of such collateral,
      the
      Collateral Agent, in its sole discretion, shall select which provision or
      provisions shall control.

     

    (e)  The
      Collateral Agent may rely on advice of counsel as to whether any or all UCC
      financing statements of the Pledgors need to be amended as a result of any
      of
      the changes described in Section 5.12(a) of the Credit
      Agreement.  If any Pledgor fails to provide information to the
      Collateral Agent about such changes on a timely basis, the Collateral Agent
      shall not be liable or responsible to any party for any failure to maintain
      a
      perfected security interest in such Pledgor’s property constituting Pledged
      Collateral, for which the Collateral Agent needed to have information relating
      to such changes.  The Collateral Agent shall have no duty to inquire
      about such changes if any Pledgor does not inform the Collateral Agent of such
      changes, the parties acknowledging and agreeing that it would not be feasible
      or
      practical for the Collateral Agent to search for information on such changes
      if
      such information is not provided by any Pledgor.

     

    SECTION
      11.2.  Collateral
      Agent May Perform; Collateral Agent Appointed Attorney-in-Fact

     

    .  If
      any Pledgor shall fail to perform any covenants contained in this Agreement
      (including such Pledgor’s covenants to (i) pay the premiums in respect of all
      required insurance policies hereunder, (ii) pay and discharge any taxes,
      assessments and special assessments, levies, fees and governmental charges
      imposed upon or assessed against, and landlords’, carriers’, mechanics’,
      workmen’s, repairmen’s, laborers’, materialmen’s, suppliers’ and warehousemen’s
      Liens and other claims arising by operation of law against, all or any portion
      of the Pledged Collateral, (iii) make repairs, (iv) discharge Liens or (v)
      pay
      or perform any obligations of such Pledgor under any Pledged Collateral) or
      if
      any representation or warranty on the part of any Pledgor contained herein
      shall
      be breached, the Collateral Agent may (but shall not be obligated to) do the
      same or cause it to be done or remedy any such breach, and may expend funds
      for
      such purpose; provided, however, that the Collateral Agent shall
      in no event be bound to inquire into the validity of any tax, Lien, imposition
      or other obligation which such Pledgor fails to pay or perform as and when
      required hereby and which such Pledgor does not contest in accordance with
      the
      provisions of the Credit Agreement.  Any and all amounts so expended
      by the Collateral Agent shall be paid by the Pledgors in accordance with the
      provisions of Section 10.03 of the Credit
      Agreement.  Neither the provisions of this Section 11.2 nor any
      action taken by the Collateral Agent pursuant to the provisions of this
Section 11.2 shall prevent any such failure to observe any covenant
      contained in this Agreement nor any breach of representation or warranty from
      constituting an Event of Default.  Each Pledgor hereby appoints the
      Collateral Agent its attorney-in-fact, with full power and authority in the
      place and stead of such Pledgor and in the name of such Pledgor, or otherwise,
      from time to time upon the existence and during the continuance of any Default,
      in the Collateral Agent’s discretion to take any action and to execute any
      instrument consistent with the terms of the Credit Agreement, this Agreement
      and
      the other Security Documents which the Collateral Agent may deem necessary
      or
      advisable to accomplish the purposes hereof (but the Collateral Agent shall
      not
      be obligated to and shall have no liability to such Pledgor or any third party
      for failure to so do or take action).  The foregoing grant of
      authority is a power of attorney coupled with an interest and such appointment
      shall be irrevocable for the term hereof.  Each Pledgor hereby
      ratifies all that such attorney shall lawfully do or cause to be done by virtue
      hereof.

     

    SECTION
      11.3.  Continuing
      Security Interest; Assignment

     

    .  This
      Agreement shall create a continuing security interest in the Pledged Collateral
      and shall (i) be binding upon the Pledgors, their respective successors and
      assigns and (ii) inure, together with the rights and remedies of the
      Collateral Agent hereunder, to the benefit of the Collateral Agent and the
      other
      Secured Parties and each of their respective successors, transferees and
      assigns.  No other persons (including any other creditor of any
      Pledgor) shall have any interest herein or any right or benefit with respect
      hereto.  Without limiting the generality of the foregoing
      clause (ii), any Secured Party may assign or otherwise transfer any
      indebtedness held by it secured by this Agreement to any other person, and
      such
      other person shall thereupon become vested with all the benefits in respect
      thereof granted to such Secured Party, herein or otherwise, subject however,
      to
      the provisions of the Credit Agreement and, in the case of a Secured Party
      that
      is a party to a Hedging Agreement, such Hedging Agreement.  Each of
      the Pledgors agrees that its obligations hereunder and the security interest
      created hereunder shall continue to be effective or be reinstated, as
      applicable, if at any time payment, or any part thereof, of all or any part
      of
      the Secured Obligations is rescinded or must otherwise be restored by the
      Secured Party upon the bankruptcy or reorganization of any Pledgor or
      otherwise.

     

    SECTION
      11.4.  Termination;
      Release

     

    .  When
      all the Secured Obligations have been paid in full and the Commitments of the
      Lenders to make any Loan or to issue any Letter of Credit under the Credit
      Agreement shall have expired or been sooner terminated and all Letters of Credit
      have been terminated or cash collateralized in accordance with the provisions
      of
      the Credit Agreement, this Agreement shall terminate.  Upon
      termination of this Agreement the Pledged Collateral shall be released from
      the
      Lien of this Agreement.  Upon such release or any release of Pledged
      Collateral or any part thereof in accordance with the provisions of the Credit
      Agreement, the Collateral Agent shall, upon the request and at the sole cost
      and
      expense of the Pledgors, assign, transfer and deliver to the relevant Pledgor,
      against receipt and without recourse to or warranty by the Collateral Agent
      except as to the fact that the Collateral Agent has not encumbered the released
      assets, such of the Pledged Collateral or any part thereof to be released (in
      the case of a release) as may be in possession of the Collateral Agent and
      as
      shall not have been sold or otherwise applied pursuant to the terms hereof,
      and,
      with respect to any other Pledged Collateral, proper documents and instruments
      (including any necessary UCC-3 termination financing statements or releases)
      acknowledging the termination hereof or the release of such Pledged Collateral,
      as the case may be. 

     

    SECTION
      11.5.  Modification
      in Writing

     

    .  No
      amendment, modification, supplement, termination or waiver of or to any
      provision hereof, nor consent to any departure by any Pledgor therefrom, shall
      be effective unless the same shall be made in accordance with the terms of
      the
      Credit Agreement and unless in writing and signed by the Collateral
      Agent.  Any amendment, modification or supplement of or to any
      provision hereof, any waiver of any provision hereof and any consent to any
      departure by any Pledgor from the terms of any provision hereof in each case
      shall be effective only in the specific instance and for the specific purpose
      for which made or given.  Except where notice is specifically required
      by this Agreement or any other document evidencing the Secured Obligations,
      no
      notice to or demand on any Pledgor in any case shall entitle any Pledgor to
      any
      other or further notice or demand in similar or other
      circumstances.

     

    SECTION
      11.6.  Notices

     

    .  Unless
      otherwise provided herein or in the Credit Agreement, any notice or other
      communication herein required or permitted to be given shall be given in the
      manner and become effective as set forth in the Credit Agreement, as to any
      Pledgor, addressed to it at the address of the Borrower set forth in the Credit
      Agreement and as to the Collateral Agent, addressed to it at the address set
      forth in the Credit Agreement, or in each case at such other address as shall
      be
      designated by such party in a written notice to the other party complying as
      to
      delivery with the terms of this Section 11.6.

     

    SECTION
      11.7.  Governing
      Law, Consent to Jurisdiction and Service of Process; Waiver of Jury
      Trial

     

    .  Sections 10.09
      and 10.10 of the Credit Agreement are incorporated herein, mutatis
      mutandis, as if a part hereof.

     

    SECTION
      11.8.  Severability
      of Provisions

     

    .  Any
      provision hereof which is invalid, illegal or unenforceable in any jurisdiction
      shall, as to such jurisdiction, be ineffective to the extent of such invalidity,
      illegality or unenforceability without invalidating the remaining provisions
      hereof or affecting the validity, legality or enforceability of such provision
      in any other jurisdiction.

     

    SECTION
      11.9.  Execution
      in Counterparts

     

    .  This
      Agreement and any amendments, waivers, consents or supplements hereto may be
      executed in any number of counterparts and by different parties hereto in
      separate counterparts, each of which when so executed and delivered shall be
      deemed to be an original, but all such counterparts together shall constitute
      one and the same agreement.

     

    SECTION
      11.10.   Business
      Days

     

    .  In
      the event any time period or any date provided in this Agreement ends or falls
      on a day other than a Business Day, then such time period shall be deemed to
      end
      and such date shall be deemed to fall on the next succeeding Business Day,
      and
      performance herein may be made on such Business Day, with the same force and
      effect as if made on such other day.

     

    SECTION
      11.11.   No
      Credit for Payment of Taxes or Imposition

     

    .  Such
      Pledgor shall not be entitled to any credit against the principal, premium,
      if
      any, or interest payable under the Credit Agreement, and such Pledgor shall
      not
      be entitled to any credit against any other sums which may become payable under
      the terms thereof or hereof, by reason of the payment of any Tax on the Pledged
      Collateral or any part thereof.

     

    SECTION
      11.12.   No
      Claims Against Collateral Agent

     

    .  Nothing
      contained in this Agreement shall constitute any consent or request by the
      Collateral Agent, express or implied, for the performance of any labor or
      services or the furnishing of any materials or other property in respect of
      the
      Pledged Collateral or any part thereof, nor as giving any Pledgor any right,
      power or authority to contract for or permit the performance of any labor or
      services or the furnishing of any materials or other property in such fashion
      as
      would permit the making of any claim against the Collateral Agent in respect
      thereof or any claim that any Lien based on the performance of such labor or
      services or the furnishing of any such materials or other property is prior
      to
      the Lien hereof.

     

    SECTION
      11.13.   No
      Release

     

    .  Nothing
      set forth in this Agreement or any other Loan Document, nor the exercise by
      the
      Collateral Agent of any of the rights or remedies hereunder, shall relieve
      any
      Pledgor from the performance of any term, covenant, condition or agreement
      on
      such Pledgor’s part to be performed or observed under or in respect of any of
      the Pledged Collateral or from any liability to any person under or in respect
      of any of the Pledged Collateral or shall impose any obligation on the
      Collateral Agent or any other Secured Party to perform or observe any such
      term,
      covenant, condition or agreement on such Pledgor’s part to be so performed or
      observed or shall impose any liability on the Collateral Agent or any other
      Secured Party for any act or omission on the part of such Pledgor relating
      thereto or for any breach of any representation or warranty on the part of
      such
      Pledgor contained in this Agreement, the Credit Agreement or the other Loan
      Documents, or under or in respect of the Pledged Collateral or made in
      connection herewith or therewith.  Anything herein to the contrary
      notwithstanding, neither the Collateral Agent nor any other Secured Party shall
      have any obligation or liability under any contracts, agreements and other
      documents included in the Pledged Collateral by reason of this Agreement, nor
      shall the Collateral Agent or any other Secured Party be obligated to perform
      any of the obligations or duties of any Pledgor thereunder or to take any action
      to collect or enforce any such contract, agreement or other document included
      in
      the Pledged Collateral hereunder.  The obligations of each Pledgor
      contained in this Section 11.13 shall survive the termination hereof
      and the discharge of such Pledgor’s other obligations under this Agreement, the
      Credit Agreement and the other Loan Documents.

     

    SECTION
      11.14.   Obligations
      Absolute

     

    .  All
      obligations of each Pledgor hereunder shall be absolute and unconditional
      irrespective of:

     

    (i)  any
      bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
      liquidation or the like of any other Pledgor;

     

    (ii)  any
      lack
      of validity or enforceability of the Credit Agreement, any Hedging Agreement
      or
      any other Loan Document, or any other agreement or instrument relating
      thereto;

     

    (iii)  any
      change in the time, manner or place of payment of, or in any other term of,
      all
      or any of the Secured Obligations, or any other amendment or waiver of or any
      consent to any departure from the Credit Agreement, any Hedging Agreement or
      any
      other Loan Document or any other agreement or instrument relating
      thereto;

     

    (iv)  any
      pledge, exchange, release or non-perfection of any other collateral, or any
      release or amendment or waiver of or consent to any departure from any
      guarantee, for all or any of the Secured Obligations;

     

    (v)  any
      exercise, non-exercise or waiver of any right, remedy, power or privilege under
      or in respect hereof, the Credit Agreement, any Hedging Agreement or any other
      Loan Document except as specifically set forth in a waiver granted pursuant
      to
      the provisions of Section 11.5 hereof; or

     

    (vi)  any
      other
      circumstances which might otherwise constitute a defense available to, or a
      discharge of, any Pledgor.

     

    

     

    [REMAINDER
      OF THIS PAGE INTENTIONALLY LEFT BLANK.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, each Pledgor and the Collateral Agent have caused this
      Agreement to be duly executed and delivered by their duly authorized officers
      as
      of the date first above written.

     

    ITRON,
      INC., as a Pledgor

     

    
      	
               

            	
              By:

            	
              /s/
                Steven M. Helmbrecht

            	 

    

    
      	
               

            	
              Name:
                Steven M. Helmbrecht

            

    

    
      	
               

            	
              Title:
                Senior Vice President and Chief Financial
                Officer

            

    

     

    ITRON
      INTERNATIONAL, INC., as a Pledgor

     

    
      	
               

            	
              By:

            	
              /s/
                Steven M. Helmbrecht

            	 

    

    
      	
               

            	
              Name:
                Steven M. Helmbrecht

            

    

    
      	
               

            	
              Title:
                President and Treasurer

            

    

     

    ITRON
      ENGINEERING SERVICES, INC., as a Pledgor

     

    
      	
               

            	
              By:

            	
              /s/
                Steven M. Helmbrecht

            	 

    

    
      	
               

            	
              Name:
                Steven M. Helmbrecht

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

    ITRON
      BRAZIL I, LLC, as a Pledgor

     

    
      	
               

            	
              By:

            	
              /s/
                Joseph P. Ball

            	 

    

    
      	
               

            	
              Name:
                Joseph P. Ball

            

    

    
      	
               

            	
              Title:
                Manager

            

    

     

    ITRON
      BRAZIL II, LLC, as a Pledgor

     

    
      	
               

            	
              By:

            	
              /s/
                Joseph P. Ball

            	 

    

    
      	
               

            	
              Name:
                Joseph P. Ball

            

    

    
      	
               

            	
              Title:
                Manager

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

    
      	
               

            	
              By:

            	
              /s/
                Tom Beil

            	 

    

    
      	
               

            	
              Name:
                Tom Beil

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      1

     

    

     

    ISSUER’S
      ACKNOWLEDGMENT

     

    The
      undersigned hereby (i) acknowledges as of this
         day of
                 ,
      20    , receipt of the Security Agreement (as
      amended, amended and restated, supplemented or otherwise modified from time
      to
      time, the “Security Agreement;” capitalized terms used but not otherwise
      defined herein shall have the meanings assigned to such terms in the Security
      Agreement), dated as of April 18, 2007, made by ITRON, INC., a Washington
      corporation (the “Borrower”), the Subsidiary Guarantors party thereto and
      WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral agent (in such capacity
      and together with any successors in such capacity, the “Collateral
      Agent”), (ii) agrees promptly to note on its books the security
      interests granted to the Collateral Agent and confirmed under the Security
      Agreement, (iii) agrees that it will comply with instructions of the Collateral
      Agent with respect to the applicable Securities Collateral without further
      consent by the applicable Pledgor, (iv) agrees to notify the Collateral Agent
      upon obtaining knowledge of any interest in favor of any person in the
      applicable Securities Collateral that is adverse to the interest of the
      Collateral Agent therein and (v) waives any right or requirement at any
      time hereafter to receive a copy of the Security Agreement in connection with
      the registration of any Securities Collateral thereunder in the name of the
      Collateral Agent or its nominee or the exercise of voting rights by the
      Collateral Agent or its nominee.

     

    [                                                          ]

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      2

     

    SECURITIES
      PLEDGE AMENDMENT

     

    This
      Securities Pledge Amendment, dated as of
      [                    ],
      is delivered by
      [                 ]
      (the “Pledgor”), in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as
      collateral agent (in such capacity and together with any successors in such
      capacity, the “Collateral Agent”), pursuant to Section 5.1 of
      the Security Agreement (as amended, amended and restated, supplemented or
      otherwise modified from time to time, the “Security Agreement;”
capitalized terms used but not otherwise defined herein shall have
      the meanings
      assigned to such terms in the Security Agreement), dated as of April 18, 2007,
      made by ITRON, INC., a Washington corporation (the “Borrower”), the
      Subsidiary Guarantors party thereto and WELLS FARGO BANK, NATIONAL ASSOCIATION,
      as collateral agent.

    

    As
      collateral security for the payment and performance in full of all the Secured
      Obligations, the Pledgor hereby pledges and grants to the Collateral Agent
      for
      the benefit of the Secured Parties, a lien on and security interest in all
      of
      the right, title and interest of the Pledgor in, to and under the Pledged
      Securities and Intercompany Notes listed on this Securities Pledge Amendment
      and
      all Proceeds of any and all of the foregoing (other than Excluded
      Property).

    

    The
      Pledgor hereby agrees that this Securities Pledge Amendment may be attached
      to
      the Security Agreement and that the Pledged Securities and/or Intercompany
      Notes
      listed on this Securities Pledge Amendment shall be deemed to be and shall
      become part of the Pledged Collateral and shall secure all Secured
      Obligations.

     

    PLEDGED
      SECURITIES

     

    
      	
              
                 

                 

                 

                ISSUER

                 

              

            	
              
                CLASS

                OF
                  STOCK

                OR
                  INTERESTS

                 

              

            	
              
                 

                 

                PAR

                VALUE

                 

              

            	
              
                 

                 

                CERTIFICATE

                NO(S).

                 

              

            	
              
                NUMBER
                  OF SHARES

                OR

                INTERESTS

                 

              

            	
              
                PERCENTAGE
                  OF

                ALL
                  ISSUED CAPITAL

                OR
                  OTHER EQUITY INTERESTS OF ISSUER

                 

              

            
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    INTERCOMPANY
      NOTES

     

    
      	
              
                ISSUER

              

            	
              
                PRINCIPAL

                AMOUNT

                 

              

            	
              
                DATE
                  OF

                ISSUANCE

                 

              

            	
              
                INTEREST

                RATE

                 

              

            	
              
                MATURITY

                DATE

                 

              

            
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

    

    

    [                                                                        ],

    as
      Pledgor

     

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    AGREED
      TO
      AND ACCEPTED:

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

     as
      Collateral Agent

     

    
      	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      3

     

    JOINDER
      AGREEMENT

     

    [Name
      of
      New Pledgor]

    [Address
      of New Pledgor]

     

    [Date]

     

    Ladies
      and Gentlemen:

     

    Reference
      is made to the Security Agreement (as amended, amended and restated,
      supplemented or otherwise modified from time to time, the “Security
      Agreement;” capitalized terms used but not otherwise defined herein shall
      have the meanings assigned to such terms in the Security Agreement), dated
      as of
      April 18, 2007, made by ITRON, INC., a Washington corporation (the
“Borrower”), the Subsidiary Guarantors party thereto and WELLS FARGO
      BANK, NATIONAL ASSOCIATION, as collateral agent (in such capacity and together
      with any successors in such capacity, the “Collateral
      Agent”).

     

    This
      Joinder Agreement supplements the Security Agreement and is delivered by the
      undersigned,
      [                         ]
      (the “New Pledgor”), pursuant to Section 3.5 of the Security
      Agreement.  The New Pledgor hereby agrees to be bound as a Subsidiary
      Guarantor and as a Pledgor party to the Security Agreement by all of the terms,
      covenants and conditions set forth in the Security Agreement to the same extent
      that it would have been bound if it had been a signatory to the Security
      Agreement on the date of the Security Agreement.  The New Pledgor also
      hereby agrees to be bound as a party by all of the terms, covenants and
      conditions applicable to it set forth in Articles V, VI and
VII of the Credit Agreement to the same extent that it
      would have been
      bound if it had been a signatory to the Credit Agreement on the execution date
      of the Credit Agreement.  Without limiting the generality of the
      foregoing, the New Pledgor hereby grants and pledges to the Collateral Agent,
      as
      collateral security for the full, prompt and complete payment and performance
      when due (whether at stated maturity, by acceleration or otherwise) of the
      Secured Obligations, a Lien on and security interest in, all of its right,
      title
      and interest in, to and under the Pledged Collateral and expressly assumes
      all
      obligations and liabilities of a Subsidiary Guarantor and Pledgor
      thereunder.  The New Pledgor hereby makes each of the representations
      and warranties and agrees to each of the covenants applicable to the Pledgors
      contained in the Security Agreement and the Credit Agreement.

     

    Annexed
      hereto are supplements to each of the schedules to the Security Agreement and
      the Credit Agreement, as applicable, with respect to the New
      Pledgor.  Such supplements shall be deemed to be part of the Security
      Agreement or the Credit Agreement, as applicable.

     

    This
      Joinder Agreement and any amendments, waivers, consents or supplements hereto
      may be executed in any number of counterparts and by different parties hereto
      in
      separate counterparts, each of which when so executed and delivered shall be
      deemed to be an original, but all such counterparts together shall constitute
      one and the same agreement.

     

    THIS
      JOINDER AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
      LAW
      OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT
      WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
      JURISDICTION.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the New Pledgor has caused this Joinder Agreement to be
      executed and delivered by its duly authorized officer as of the date first
      above
      written.

     

    [NEW
      PLEDGOR]

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    AGREED
      TO
      AND ACCEPTED:

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

     as
      Collateral Agent

     

     

    
      	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     

     [Schedules
      to be attached]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      4

    CONTROL
      AGREEMENT CONCERNING SECURITIES ACCOUNTS

     

    This
      Control Agreement Concerning Securities Accounts (this “Control
      Agreement”), dated as of
      [                    ],
      by and among
      [                         ]
      (the “Pledgor”), Wells Fargo Bank, National Association, as Collateral
      Agent (the “Collateral Agent”) and
      [              ]
      (the “Securities Intermediary”), is delivered pursuant to Section
      3.4(c) of that certain security agreement (as amended, amended and restated,
      supplemented or otherwise modified from time to time, the “Security
      Agreement”), dated as of April 18, 2007, made by [Itron, Inc., a Washington
      corporation,] [the Pledgor] and each of the Subsidiary Guarantors listed on
      the
      signature pages thereto in favor of Wells Fargo Bank, National Association,
      as
      collateral agent, as pledgee, assignee and secured party (the “Collateral
      Agent”).  This Control Agreement is for the purpose of perfecting
      the security interests of the Secured Parties granted by the Pledgor in the
      Designated Accounts described below.  All references herein to the
“UCC” shall mean the Uniform Commercial Code as in effect from time to time in
      the State of New York.  Capitalized terms used but not defined herein
      shall have the meanings assigned to such terms in the Security
      Agreement.

     

    Section
      1.                      Confirmation
      of Establishment and Maintenance of
      DesignatedAccounts.  The Securities Intermediary hereby
      confirms and agrees that (i) the Securities Intermediary has established for
      the
      Pledgor and maintains the account(s) listed in Schedule I annexed hereto
      (such account(s), together with each such other securities account maintained
      by
      the Pledgor with the Securities Intermediary collectively, the “Designated
      Accounts” and each a “Designated Account”), (ii) each Designated
      Account will be maintained in the manner set forth herein until termination
      of
      this Control Agreement, (iii) this Control Agreement is the valid and legally
      binding obligation of the Securities Intermediary, (iv) the Securities
      Intermediary is a “securities intermediary” as defined in Section 8-102(a)(14)
      of the UCC, (v) each of the Designated Accounts is a “securities account” as
      such term is defined in Section 8-501(a) of the UCC and (vi) all securities
      or
      other property underlying any financial assets which are credited to any
      Designated Account shall be registered in the name of the Securities
      Intermediary, endorsed to the Securities Intermediary or in blank or credited
      to
      another securities account maintained in the name of the Securities Intermediary
      and in no case will any financial asset credited to any Designated Account
      be
      registered in the name of the Pledgor, payable to the order of the Pledgor
      or
      specially endorsed to the Pledgor, except to the extent the foregoing have
      been
      specially endorsed to the Securities Intermediary or in blank.

     

    Section
      2.                      “Financial
      Assets” Election.  All parties hereto agree that each item of
      Investment Property and all other property held in or credited to any Designated
      Account (the “Account Property”) shall be treated as a “financial asset”
within the meaning of Section 8-102(a)(9) of the UCC.

     

    Section
      3.                      Entitlement
      Order.  If at any time the Securities Intermediary shall receive
      an “entitlement order” (within the meaning of Section 8-102(a)(8) of the UCC)
      issued by the Collateral Agent and relating to any financial asset maintained
      in
      one or more of the Designated Accounts, the Securities Intermediary shall comply
      with such entitlement order without further consent by the Pledgor or any other
      person.  The Securities Intermediary shall also comply with
      instructions directing the Securities Intermediary with respect to the sale,
      exchange or transfer of any Account Property held in each Designated Account
      originated by a Pledgor, or any representative of, or investment manager
      appointed by, a Pledgor until such time as the Collateral Agent delivers a
      Notice of Sole Control pursuant to Section 9(i) to the Securities
      Intermediary.  The Securities Intermediary shall comply with, and is
      fully entitled to rely upon, any entitlement order from the Collateral Agent,
      even if such entitlement order is contrary to any entitlement order that the
      Pledgor may give or may have given to the Securities Intermediary.

     

    Section
      4.                      Subordination
      of Lien; Waiver of Set-Off.  The Securities Intermediary hereby
      agrees that any security interest in, lien on, encumbrance, claim or (except
      as
      provided in the next sentence) right of setoff against, any Designated Account
      or any Account Property it now has or subsequently obtains shall be subordinate
      to the security interest of the Collateral Agent in the Designated Accounts
      and
      the Account Property therein or credited thereto.  The Securities
      Intermediary agrees not to exercise any present or future right of recoupment
      or
      set-off against any of the Designated Accounts or to assert against any of
      the
      Designated Accounts any present or future security interest, banker’s lien or
      any other lien or claim (including claim for penalties) that the Securities
      Intermediary may at any time have against or in any of the Designated Accounts
      or any Account Property therein or credited thereto; provided,
however, that the Securities Intermediary may set off all amounts
      due to
      the Securities Intermediary in respect of its customary fees and expenses for
      the routine maintenance and operation of the Designated Accounts, including
      overdraft fees and amounts advanced to settle authorized
      transactions.

     

    Section
      5.                      Choice
      of Law.  Both this Control Agreement and the Designated Accounts
      shall be governed by the laws of the State of New York.  Regardless of
      any provision in any other agreement, for purposes of the UCC, New York shall
      be
      deemed to be the Securities Intermediary’s jurisdiction and the Designated
      Accounts (as well as the security entitlements related thereto) shall be
      governed by the laws of the State of New York.

     

    Section
      6.                      Conflict
      with Other Agreements; Amendments.  As of the date hereof, there
      are no other agreements entered into between the Securities Intermediary and
      the
      Pledgor with respect to any Designated Account or any security entitlements
      or
      other financial assets credited thereto (other than standard and customary
      documentation with respect to the establishment and maintenance of such
      Designated Accounts).  The Securities Intermediary and the Pledgor
      will not enter into any other agreement with respect to any Designated Account
      unless the Collateral Agent shall have received prior written notice
      thereof.  The Securities Intermediary and the Pledgor have not and
      will not enter into any other agreement with respect to (i) creation or
      perfection of any security interest in or (ii) control of security entitlements
      maintained in any of the Designated Accounts or purporting to limit or condition
      the obligation of the Securities Intermediary to comply with entitlement orders
      with respect to any Account Property held in or credited to any Designated
      Account as set forth in Section 3 hereof without the prior
      written consent of the Collateral Agent acting in its sole
      discretion.  In the event of any conflict with respect to control over
      any Designated Account between this Control Agreement (or any portion hereof)
      and any other agreement now existing or hereafter entered into, the terms of
      this Control Agreement shall prevail.  No amendment or modification of
      this Control Agreement or waiver of any rights hereunder shall be binding on
      any
      party hereto unless it is in writing and is signed by all the parties
      hereto.

     

    Section
      7.                      Certain
      Agreements.

     

                             (i)As
      of the date hereof, the
      Securities Intermediary has furnished to the Collateral Agent the most recent
      account statement issued by the Securities Intermediary with respect to each
      of
      the Designated Accounts and the financial assets and cash balances held therein,
      identifying the financial assets held therein in a manner acceptable to the
      Collateral Agent.  Each such statement accurately reflects the assets
      held in such Designated Account as of the date thereof.

     

                             (ii)The
      Securities Intermediary will,
      upon its receipt of each supplement to the Security Agreement signed by the
      Pledgor and identifying one or more financial assets as “Pledged Collateral”,
      enter into its records, including computer records, with respect to each
      Designated Account a notation with respect to any such financial asset so that
      such records and reports generated with respect thereto identify such financial
      asset as “Pledged.”

     

    Section
      8.                      Notice
      of Adverse Claims.  Except for the claims and interest of the
      Collateral Agent and of the Pledgor in the Account Property held in or credited
      to the Designated Accounts, the Securities Intermediary on the date hereof
      does
      not know of any claim to, security interest in, lien on, or encumbrance against,
      any Designated Account or Account Property held in or credited thereto and
      does
      not know of any claim that any person or entity other than the Collateral Agent
      has been given “control” (within the meaning of Section 8-106 of the UCC) of any
      Designated Account or any such Account Property.  If the Securities
      Intermediary becomes aware that any person or entity is asserting any lien,
      encumbrance, security interest or adverse claim (including any writ,
      garnishment, judgment, warrant of attachment, execution or similar process
      or
      any claim of control) against any of the Account Property held in or credited
      to
      any Designated Account, the Securities Intermediary shall promptly notify the
      Collateral Agent and the Pledgor thereof.

     

    Section
      9.                      Maintenance
      of Designated Accounts.  In addition to the obligations of the
      Securities Intermediary in Section 3 hereof, the Securities
      Intermediary agrees to maintain the Designated Accounts as follows:

     

                   (i)Notice
      of Sole
      Control.  If at any time the Collateral Agent delivers to the
      Securities Intermediary a notice instructing the Securities Intermediary to
      terminate Pledgor’s access to any Designated Account (the “Notice of Sole
      Control”), the Securities Intermediary agrees that, after receipt of such
      notice, it will take all instructions with respect to such Designated Account
      solely from the Collateral Agent, terminate all instructions and orders
      originated by the Pledgor with respect to the Designated Accounts or any Account
      Property therein, and cease taking instructions from Pledgor, including, without
      limitation, instructions for investment, distribution or transfer of any
      financial asset maintained in any Designated Account.  Permitting
      settlement of trades pending at the time of receipt of such notice shall not
      constitute a violation of the immediately preceding sentence.

     

                   (ii)Voting
      Rights.  Until such time as the Securities Intermediary receives a
      Notice of Sole Control, the Pledgor, or an investment manager on behalf of
      the
      Pledgor, shall direct the Securities Intermediary with respect to the voting
      of
      any financial assets credited to any Designated Account.

     

                   (iii)Statements
      and
      Confirmations.  The Securities Intermediary will send copies of
      all statements and other correspondence (excluding routine confirmations)
      concerning any Designated Account or any financial assets credited thereto
      simultaneously to each of the Pledgor and the Collateral Agent at the address
      set forth in Section 11 hereof.  The Securities
      Intermediary will provide to the Collateral Agent, upon the Collateral Agent’s
      request therefor from time to time and, in any event, as of the last business
      day of each calendar month, a statement of the market value of each financial
      asset maintained in each Designated Account.  The Securities
      Intermediary shall not change the name or account number of any Designated
      Account without the prior written consent of the Collateral Agent.

     

                   (iv)Perfection
      in Certificated
      Securities.  The Securities Intermediary acknowledges that, in the
      event that it should come into possession of any certificate representing any
      security or other Account Property held in or credited to any of the Designated
      Accounts, the Securities Intermediary shall retain possession of the same on
      behalf and for the benefit of the Collateral Agent and such act shall cause
      the
      Securities Intermediary to be deemed holding such certificate for the Collateral
      Agent, if necessary to perfect the Collateral Agent’s security interest in such
      securities or assets.  The Securities Intermediary hereby acknowledges
      its receipt of a copy of the Security Agreement, which shall also serve as
      notice to the Securities Intermediary of a security interest in collateral
      held
      on behalf and for the benefit of the Collateral Agent.

     

    Section
      10.                                Successors;
      Assignment.  The terms of this Control Agreement shall be binding
      upon, and shall inure to the benefit of, the parties hereto and their respective
      corporate successors and permitted assignees.

     

    Section
      11.                                Notices.  Any
      notice, request or other communication required or permitted to be given under
      this Control Agreement shall be in writing and deemed to have been properly
      given when delivered in person, or when sent by telecopy or other electronic
      means and electronic confirmation of error free receipt is received or
      two (2) days after being sent by certified or registered United States
      mail, return receipt requested, postage prepaid, addressed to the party at
      the
      address set forth below.

     

    
      	
               

            	
              Pledgor:

            	
              [                                        ]

            

    

    
      	
               

            	
              [Address]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

    
      	
               

            	
              with
                copy to:

            

    

     

    
      	
               

            	
              [                                        ]

            

    

    
      	
               

            	
              [Address]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

    
      	
               

            	
              Securities

            

    

     

    
      	
               

            	
              Intermediary:

            	
              [                                        ]

            

    

    
      	
               

            	
              [Address]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

    
      	
               

            	
              Collateral

            

    

     

    
      	
               

            	
              Agent:

            	
              Wells
                Fargo Bank

            

    

    
      	
               

            	
              Inland
                Northwest RCBO

            

    

    
      	
               

            	
              601
                West First Avenue, Suite 900

            

    

    
      	
               

            	
              Spokane,
                WA 99201

            

    

    
      	
               

            	
              Attention:
                Tom Beil

            

    

    
      	
               

            	
              Telecopier
                No.:  (509) 455-5760

            

    

    
      	
               

            	
              Email:
                beilt@wellsfargo.com

            

    

     

    Any
      party
      may change its address for notices in the manner set forth above.

     

    Section
      12.                                Termination.

     

    (i)           Except
      as otherwise provided in this Section 12, the obligations of the
      Securities Intermediary hereunder and this Control Agreement shall continue
      in
      effect until the security interests of the Collateral Agent in the Designated
      Accounts and any and all Account Property held therein or credited thereto
      have
      been terminated pursuant to the terms of the Security Agreement and the
      Collateral Agent has notified the Securities Intermediary of such termination
      in
      writing.

     

    (ii)           The
      Securities Intermediary, acting alone, may terminate this Control Agreement
      at
      any time and for any reason by written notice delivered to the Collateral Agent
      and the Pledgor not less than thirty (30) days prior to the effective
      termination date.

    

    (iii)           Prior
      to any termination of this Control Agreement pursuant to this Section 12,
      the Securities Intermediary hereby agrees that it shall promptly take, at
      Pledgor’s sole cost and expense, all reasonable actions necessary to facilitate
      the transfer of any Account Property in or credited to the Designated Accounts
      as follows: (i) in the case of a termination of this Control Agreement under
      Section 12(i), if requested by Pledgor, to the institution designated in
      writing by Pledgor; and (ii) in all other cases, to the institution designated
      in writing by the Collateral Agent.

    

    Section
      13.                                Fees
      and Expenses.  The Securities Intermediary agrees to look solely
      to the Pledgor for payment of any and all fees, costs, charges and expenses
      incurred or otherwise relating to the Designated Accounts and services provided
      by the Securities Intermediary hereunder (collectively, the “Account
      Expenses”), and the Pledgor agrees to pay such Account Expenses to the
      Securities Intermediary on demand therefor.  The Pledgor acknowledges
      and agrees that it shall be, and at all times remains, solely liable to the
      Securities Intermediary for all Account Expenses.

     

    Section
      14.                                Severability.  If
      any term or provision set forth in this Control Agreement shall be invalid
      or
      unenforceable, the remainder of this Control Agreement, other than those
      provisions held invalid or unenforceable, shall be construed in all respects
      as
      if such invalid or unenforceable term or provision were omitted.

     

                          Section
      15.                                Counterparts.  This
      Control 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 Control Agreement by signing and delivering one or more
      counterparts.

    

    [signature
      page follows]

    

    [                                                                    ],

    as
      Pledgor

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     [                                                                    ],

    as
      Securities Intermediary

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

     

    Designated
      Account(s)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      5

     

    CONTROL
      AGREEMENT CONCERNING DEPOSIT ACCOUNTS

     

    This
      CONTROL AGREEMENT CONCERNING DEPOSIT ACCOUNTS (this “Control Agreement”),
      dated as of
      [                    ],
      by and among
      [                         ]
      (the “Pledgor”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral
      Agent (the “Collateral Agent”) and
      [                         ]
      (the “Bank”), is delivered pursuant to Section 3.4(b) of that
      certain security agreement (as amended, amended and restated, supplemented
      or
      otherwise modified from time to time, the “Security Agreement”), dated as
      of April 18, 2007, made by [Itron, Inc., a Washington corporation,] [the
      Pledgor] and each of the Subsidiary Guarantors listed on the signature pages
      thereto in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral agent,
      as pledgee, assignee and secured party (the “Collateral
      Agent”).  This Control Agreement is for the purpose of perfecting
      the security interests of the Secured Parties granted by the Pledgor in the
      Designated Accounts described below.  All references herein to the
“UCC” shall mean the Uniform Commercial Code as in effect from time to time in
      the State of New York.  Capitalized terms used but not defined herein
      shall have the meanings assigned to such terms in the Security
      Agreement.

     

    Section
      1.                      Confirmation
      of Establishment and Maintenance of
      DesignatedAccounts.  The Bank hereby confirms and agrees
      that (i) the Bank has established for the Pledgor and maintains the deposit
      account(s) listed in Schedule 1 annexed hereto (such account(s), together
      with each such other deposit account maintained by the Pledgor with the Bank
      collectively, the “Designated Accounts” and each a “Designated
      Account”), (ii) each Designated Account will be maintained in the manner set
      forth herein until termination of this Control Agreement, (iii) the Bank is
      a
“bank”, as such term is defined in the UCC, (iv) this Control Agreement is the
      valid and legally binding obligation of the Bank and (v) each Designated Account
      is a “deposit account” as such term is defined in Article 9 of the
      UCC.

     

    Section
      2.                      Control.  The
      Bank shall comply with instructions originated by the Collateral Agent without
      further consent of the Pledgor or any person acting or purporting to act for
      the
      Pledgor being required, including, without limitation, directing disposition
      of
      the funds in each Designated Account.  The Bank shall also comply with
      instructions directing the disposition of funds in each Designated Account
      originated by the Pledgor or its authorized representatives until such time
      as
      the Collateral Agent delivers a Notice of Sole Control pursuant to Section
      8(i) hereof to the Bank.  The Bank shall comply with, and is fully
      entitled to rely upon, any instruction from the Collateral Agent, even if such
      instruction is contrary to any instruction that the Pledgor may give or may
      have
      given to the Bank.

     

    Section
      3.                      Subordination
      of Lien; Waiver of Set-Off.  The Bank hereby agrees that any
      security interest in, lien on, encumbrance, claim or (except as provided in
      the
      next sentence) right of setoff against, any Designated Account or any funds
      therein it now has or subsequently obtains shall be subordinate to the security
      interest of the Collateral Agent in the Designated Accounts and the funds
      therein or credited thereto.  The Bank agrees not to exercise any
      present or future right of recoupment or set-off against any of the Designated
      Accounts or to assert against any of the Designated Accounts any present or
      future security interest, banker’s lien or any other lien or claim (including
      claim for penalties) that the Bank may at any time have against or in any of
      the
      Designated Accounts or any funds therein; provided, however, that
      the Bank may set off (i) all amounts due to the Bank in respect of its customary
      fees and expenses for the routine maintenance and operation of the Designated
      Accounts, including overdraft fees, and (ii) the face amount of any checks
      or
      other items which have been credited to any Designated Account but are
      subsequently returned unpaid because of uncollected or insufficient
      funds).

     

    Section
      4.                      Choice
      of Law.  Both this Control Agreement and the Designated Accounts
      shall be governed by the laws of the State of New York.  Regardless of
      any provision in any other agreement, for purposes of the UCC, New York shall
      be
      deemed to be the Bank’s jurisdiction and the Designated Account(s) shall be
      governed by the law of the State of New York.

     

    Section
      5.                      Conflict
      with Other Agreements; Amendments.  As of the date hereof, there
      are no other agreements entered into between the Bank and the Pledgor with
      respect to any Designated Account or any funds credited thereto (other than
      standard and customary documentation with respect to the establishment and
      maintenance of such Designated Accounts).  The Bank and the Pledgor
      will not enter into any other agreement with respect to any Designated Account
      unless the Collateral Agent shall have received prior written notice
      thereof.  The Bank and the Pledgor have not and will not enter into
      any other agreement with respect to control of the Designated Accounts or
      purporting to limit or condition the obligation of the Bank to comply with
      any
      orders or instructions with respect to any Designated Account as set forth
      in
Section 2 hereof without the prior written consent of the Collateral
      Agent acting in its sole discretion.  In the event of any conflict
      with respect to control over any Designated Account between this Control
      Agreement (or any portion hereof) and any other agreement now existing or
      hereafter entered into, the terms of this Control Agreement shall
      prevail.  No amendment or modification of this Control Agreement or
      waiver of any right hereunder shall be binding on any party hereto unless it
      is
      in writing and is signed by all the parties hereto.

     

    Section
      6.                      Certain
      Agreements.  As of the date hereof, the Bank has furnished to the
      Collateral Agent the most recent account statement issued by the Bank with
      respect to each of the Designated Accounts and the cash balances held
      therein.  Each such statement accurately reflects the assets held in
      such Designated Account as of the date thereof.

     

    Section
      7.                      Notice
      of Adverse Claims.  Except for the claims and interest of the
      Secured Parties and of the Pledgor in the Designated Accounts, the Bank on
      the
      date hereof does not know of any claim to, security interest in, lien on, or
      encumbrance against, any Designated Account or in any funds credited thereto
      and
      does not know of any claim that any person or entity other than the Collateral
      Agent has been given control (within the meaning of Section 9-104 of the UCC)
      of
      any Designated Account or any such funds.  If the Bank becomes aware
      that any person or entity is asserting any lien, encumbrance, security interest
      or adverse claim (including any writ, garnishment, judgment, warrant of
      attachment, execution or similar process or any claim of control) against any
      funds in any Designated Account, the Bank shall promptly notify the Collateral
      Agent and the Pledgor thereof.

     

    Section
      8.                      Maintenance
      of Designated Accounts.  In addition to the obligations of the
      Bank in Section 2 hereof, the Bank agrees to maintain the Designated
      Accounts as follows:

     

                   (i)Notice
      of Sole
      Control.  If at any time the Collateral Agent delivers to the Bank
      a notice instructing the Bank to terminate Pledgor’s access to any Designated
      Account (the “Notice of Sole Control”), the Bank agrees that, after
      receipt of such notice, it will take all instruction with respect to such
      Designated Account solely from the Collateral Agent, terminate all instructions
      and orders originated by the Pledgor with respect to the Designated Accounts
      or
      any funds therein, and cease taking instructions from the Pledgor, including,
      without limitation, instructions for distribution or transfer of any funds
      in
      any Designated Account.

     

                   (ii)Statements
      and
      Confirmations.  The Bank will send copies of all statements and
      other correspondence (excluding routine confirmations) concerning any Designated
      Account simultaneously to the Pledgor and the Collateral Agent at the address
      set forth in Section 10 hereof.  The Bank will promptly
      provide to the Collateral Agent, upon request therefor from time to time and,
      in
      any event, as of the last business day of each calendar month, a statement
      of
      the cash balance in each Designated Account.  The Bank shall not
      change the name or account number of any Designated Account without the prior
      written consent of the Collateral Agent.

     

    Section
      9.                      Successors;
      Assignment.  The terms of this Control Agreement shall be binding
      upon, and shall inure to the benefit of, the parties hereto and their respective
      corporate successors and permitted assignees.

     

    Section
      10.                                Notices.  Any
      notice, request or other communication required or permitted to be given under
      this Control Agreement shall be in writing and deemed to have been properly
      given when delivered in person, or when sent by telecopy or other electronic
      means and electronic confirmation of error free receipt is received or
      two (2) days after being sent by certified or registered United States
      mail, return receipt requested, postage prepaid, addressed to the party at
      the
      address set forth below.

     

    
      	
               

            	
              Pledgor:

            	
              [                                        ]

            

    

    
      	
               

            	
              [Address]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

    
      	
               

            	
              with
                copy to:

            

    

     

    
      	
               

            	
              [                                        ]

            

    

    
      	
               

            	
              [Address]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

     

    
      	
               

            	
              Bank:

            	
              [                                             ]

            

    

    
      	
               

            	
              [                                             ]

            

    

    
      	
               

            	
              [                                             ]

            

    

    
      	
               

            	
              Attention:

            

    

    
      	
               

            	
              Telecopy:

            

    

    
      	
               

            	
              Telephone:

            

    

     

    
      	
               

            	
              Collateral

            

    

     

    
      	
               

            	
              Agent:

            	
              Wells
                Fargo Bank

            

    

    
      	
               

            	
              Inland
                Northwest RCBO

            

    

    
      	
               

            	
              601
                West First Avenue, Suite 900

            

    

    
      	
               

            	
              Spokane,
                WA 99201

            

    

    
      	
               

            	
              Attention:
                Tom Beil

            

    

    
      	
               

            	
              Telecopier
                No.:  (509) 455-5760

            

    

    
      	
               

            	
              Email:
                beilt@wellsfargo.com

            

    

     

    Any
      party
      may change its address for notices in the manner set forth above.

     

    Section
      11.                                Termination.  

     

    (i)           Except
      as otherwise provided in this Section 11, the obligations of the Bank
      hereunder and this Control Agreement shall continue in effect until the security
      interests of the Collateral Agent in the Designated Accounts and any and all
      funds therein have been terminated pursuant to the terms of the Security
      Agreement and the Collateral Agent has notified the Bank of such termination
      in
      writing.

     

    (ii)           The
      Bank, acting alone, may terminate this Control Agreement at any time and for
      any
      reason by written notice delivered to the Collateral Agent and the Pledgor
      not
      less than thirty (30) days prior to the effective termination date.

    

    (iii)           Prior
      to any termination of this Control Agreement pursuant to this Section 11,
      the Bank hereby agrees that it shall promptly take, at Pledgor’s sole cost and
      expense, all reasonable actions necessary to facilitate the transfer of any
      funds in the Designated Accounts as follows: (a) in the case of a termination
      of
      this Control Agreement under Section 11(i), if requested by Pledgor, to
      the institution designated in writing by Pledgor; and (b) in all other cases,
      to
      the institution designated in writing by the Collateral Agent.

    

    Section
      12.                                Fees
      and Expenses.  The Bank agrees to look solely to the Pledgor for
      payment of any and all fees, costs, charges and expenses incurred or otherwise
      relating to the Designated Accounts and services provided by the Bank hereunder
      (collectively, the “Account Expenses”), and the Pledgor agrees to pay
      such Account Expenses to the Bank on demand therefor.  The Pledgor
      acknowledges and agrees that it shall be, and at all times remains, solely
      liable to the Bank for all Account Expenses.

     

    Section
      13.                                Severability.  If
      any term or provision set forth in this Control Agreement shall be invalid
      or
      unenforceable, the remainder of this Control Agreement, other than those
      provisions held invalid or unenforceable, shall be construed in all respects
      as
      if such invalid or unenforceable term or provision were omitted.

     

    Section
      14.                                Counterparts.  This
      Control 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 Control Agreement by signing and delivering one or more
      counterparts.

     

    [signature
      page follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    [                                                            ]

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     [                                                            ],

    as
      Bank

     

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      1

     

    

     

    Designated
      Account(s)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      6

     

    COPYRIGHT
      SECURITY AGREEMENT

     

    COPYRIGHT
      SECURITY AGREEMENT, dated as of April 18, 2007 (this “Copyright Security
      Agreement”), by [__________] and [___________] (individually, a
“Pledgor”, and, collectively, the “Pledgors”), in favor of WELLS
      FARGO BANK, NATIONAL ASSOCIATION, in its capacity as collateral agent pursuant
      to the Credit Agreement (in such capacity, the “Collateral
      Agent”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      the Pledgors are party to a Security Agreement of even date herewith (the
“Security Agreement”) in favor of the Collateral Agent pursuant to which
      the Pledgors are required to execute and deliver this Copyright Security
      Agreement;

     

    NOW,
      THEREFORE, in consideration of the premises and to induce the Collateral Agent,
      for the benefit of the Secured Parties, to enter into the Credit Agreement,
      the
      Pledgors hereby agree with the Collateral Agent as follows:

     

    SECTION
      1.                                Defined
      Terms.  Unless otherwise defined herein, terms defined in the
      Security Agreement and used herein have the meaning given to them in the
      Security Agreement.

     

    SECTION
      2.                                Grant
      of Security Interest in Copyright Collateral.  As collateral
      security for the payment and performance in full of all the Secured Obligations,
      each Pledgor hereby pledges and grants to the Collateral Agent for the benefit
      of the Secured Parties, a lien on and security interest in all of the right,
      title and interest of such Pledgor in, to and under the following property,
      wherever located, and whether now existing or hereafter arising or acquired
      from
      time to time:

     

    (a)  all
      Copyrights of such Pledgor, including, without limitation, the Copyrights of
      such Pledgor listed on Schedule I attached hereto; and

     

    (b)  all
      Proceeds of any and all of the foregoing.

     

    Notwithstanding
      anything to the contrary contained in clauses (a) and (b) above, the security
      interest created by this Copyright Security Agreement shall not extend to any
      Excluded Property.

     

    SECTION
      3.                                Security
      Agreement.  The security interest granted pursuant to this
      Copyright Security Agreement is granted in conjunction with the security
      interest granted to the Collateral Agent pursuant to the Security Agreement
      and
      Pledgors hereby acknowledge and affirm that the rights and remedies of the
      Collateral Agent with respect to the security interest in the Copyrights made
      and granted hereby are more fully set forth in the Security
      Agreement.  In the event that any provision of this Copyright Security
      Agreement is deemed to conflict with the Security Agreement, the provisions
      of
      the Security Agreement shall control unless the Collateral Agent shall otherwise
      determine.

     

    SECTION
      4.                                Recordation.  Each
      Pledgor hereby authorizes and requests that the United States Copyright Office
      record this Copyright Security Agreement.

     

    SECTION
      5.                                Termination.  Upon
      the payment in full of the Secured Obligations and termination of the Security
      Agreement, the Collateral Agent shall execute, acknowledge, and deliver to
      the
      Pledgors an instrument in writing in recordable form releasing the collateral
      pledge, grant, assignment, lien and security interest in the Copyrights under
      this Copyright Security Agreement.

     

    SECTION
      6.                                Counterparts.  This
      Copyright Security 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 Copyright Security Agreement by signing and delivering one or
      more
      counterparts.

     

    [signature
      page follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, each Pledgor has caused this Copyright Security Agreement
      to be
      executed and delivered by its duly authorized offer as of the date first set
      forth above.

     

    Very
      truly yours,

     

    [PLEDGORS]1

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    Accepted
      and Agreed:

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

     

    
      	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     

    

     

    

      

    

      
      
        	
                1

              	
                This
                  document needs only to be executed by the Borrower and/or any Subsidiary
                  Guarantor which owns a pledged
                  Copyright.

              

      

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

     

    to

     

    COPYRIGHT
      SECURITY AGREEMENT

     

    COPYRIGHT
      REGISTRATIONS AND COPYRIGHT APPLICATIONS

     

    

     

     

    Copyright
      Registrations:

     

    
      	
              owner

            	
              registration

              number

            	
               

              title

            
	 	 	 

    

    

     

    Copyright
      Applications:

     

    
      	
              owner

            	
               

              title

            
	 	 

    

    

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      7

     

    PATENT
      SECURITY AGREEMENT

     

    PATENT
      SECURITY AGREEMENT, dated as of April 18, 2007 (this “Patent Security
      Agreement”), by [________] and [_________] (individually, a “Pledgor”, and,
      collectively, the “Pledgors”), in favor of WELLS FARGO BANK, NATIONAL
      ASSOCIATION, in its capacity as collateral agent pursuant to the Credit
      Agreement (in such capacity, the “Collateral Agent”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      the Pledgors are party to a Security Agreement of even date herewith (the
“Security Agreement”) in favor of the Collateral Agent pursuant to which
      the Pledgors are required to execute and deliver this Patent Security
      Agreement;

     

    NOW,
      THEREFORE, in consideration of the premises and to induce the Collateral Agent,
      for the benefit of the Secured Parties, to enter into the Credit Agreement,
      the
      Pledgors hereby agree with the Collateral Agent as follows:

     

    SECTION
      1.                                Defined
      Terms.  Unless otherwise defined herein, terms defined in the
      Security Agreement and used herein have the meaning given to them in the
      Security Agreement.

     

    SECTION
      2.                                Grant
      of Security Interest in Patent Collateral.  As collateral security
      for the payment and performance in full of all the Secured Obligations, each
      Pledgor hereby pledges and grants to the Collateral Agent for the benefit of
      the
      Secured Parties, a lien on and security interest in all of the right, title
      and
      interest of such Pledgor in, to and under the following property, wherever
      located, and whether now existing or hereafter arising or acquired from time
      to
      time:

     

    (a)  all
      Patents of such Pledgor, including, without limitation, the Patents of such
      Pledgor listed on Schedule I attached hereto; and

     

    (b)  all
      Proceeds of any and all of the foregoing.

     

    Notwithstanding
      anything to the contrary contained in clauses (a) and (b) above, the security
      interest created by this Patent Security Agreement shall not extend to any
      Excluded Property.

     

    SECTION
      3.                                Security
      Agreement.  The security interest granted pursuant to this Patent
      Security Agreement is granted in conjunction with the security interest granted
      to the Collateral Agent pursuant to the Security Agreement and Pledgors hereby
      acknowledge and affirm that the rights and remedies of the Collateral Agent
      with
      respect to the security interest in the Patents made and granted hereby are
      more
      fully set forth in the Security Agreement.  In the event that any
      provision of this Patent Security Agreement is deemed to conflict with the
      Security Agreement, the provisions of the Security Agreement shall control
      unless the Collateral Agent shall otherwise determine.

     

    SECTION
      4.                                Recordation.  Each
      Pledgor hereby authorizes and requests that the Commissioner of Patents and
      Trademarks record this Patent and Security Agreement.

     

    SECTION
      5.                                Termination.  Upon
      the payment in full of the Secured Obligations and termination of the Security
      Agreement, the Collateral Agent shall execute, acknowledge, and deliver to
      the
      Pledgors an instrument in writing in recordable form releasing the collateral
      pledge, grant, assignment, lien and security interest in the Patents under
      this
      Patent Security Agreement.

     

    SECTION
      6.                                Counterparts.  This
      Patent Security 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 Patent Security Agreement by signing and delivering one or more
      counterparts.

     

    

     

    [signature
      page follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, each Pledgor has caused this Patent Security Agreement to
      be
      executed and delivered by its duly authorized offer as of the date first set
      forth above.

     

    Very
      truly yours,

     

    [PLEDGORS]2

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    Accepted
      and Agreed:

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

     

    
      	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     

    

     

    

      

    

      
      
        	
                2

              	
                This
                  document needs only to be executed by the Borrower and/or any Subsidiary
                  Guarantor which owns a pledged
                  Patent.

              

      

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

     

    to

     

    PATENT
      SECURITY AGREEMENT

     

    PATENT
      REGISTRATIONS AND PATENT APPLICATIONS

     

    

     

     

    Patent
      Registrations:

     

    
      	
              owner

            	
              registration

              number

            	
               

              name

            
	 	 	 

    

    

     

    Patent
      Applications:

     

    
      	
              owner

            	
              application

              number

            	
               

              name

            
	 	 	 

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      8

     

    TRADEMARK
      SECURITY AGREEMENT

     

    TRADEMARK
      SECURITY AGREEMENT, dated as of April 18, 2007 (this “Trademark Security
      Agreement”), by [________] and [________] (individually, a “Pledgor”, and,
      collectively, the “Pledgors”), in favor of WELLS FARGO BANK, NATIONAL
      ASSOCIATION, in its capacity as collateral agent pursuant to the Credit
      Agreement (in such capacity, the “Collateral Agent”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      the Pledgors are party to a Security Agreement of even date herewith (the
“Security Agreement”) in favor of the Collateral Agent pursuant to which
      the Pledgors are required to execute and deliver this Trademark Security
      Agreement;

     

    NOW,
      THEREFORE, in consideration of the premises and to induce the Collateral Agent,
      for the benefit of the Secured Parties, to enter into the Credit Agreement,
      the
      Pledgors hereby agree with the Collateral Agent as follows:

     

    SECTION
      1.                                Defined
      Terms.  Unless otherwise defined herein, terms defined in the
      Security Agreement and used herein have the meaning given to them in the
      Security Agreement.

     

    SECTION
      2.                                Grant
      of Security Interest in Trademark Collateral.  As collateral
      security for the payment and performance in full of all the Secured Obligations,
      each Pledgor hereby pledges and grants to the Collateral Agent for the benefit
      of the Secured Parties, a lien on and security interest in all of the right,
      title and interest of such Pledgor in, to and under the following property,
      wherever located, and whether now existing or hereafter arising or acquired
      from
      time to time:

     

    (a)  all
      Trademarks of such Pledgor, including, without limitation, the Trademarks of
      such Pledgor listed on Schedule I attached hereto;

     

    (b)  all
      Goodwill associated with such Trademarks; and

     

    (c)  all
      Proceeds of any and all of the foregoing.

     

    Notwithstanding
      anything to the contrary contained in clauses (a) through (c) above, the
      security interest created by this Trademark Security Agreement shall not extend
      to any Excluded Property.

     

    SECTION
      3.                                Security
      Agreement.  The security interest granted pursuant to this
      Trademark Security Agreement is granted in conjunction with the security
      interest granted to the Collateral Agent pursuant to the Security Agreement
      and
      Pledgors hereby acknowledge and affirm that the rights and remedies of the
      Collateral Agent with respect to the security interest in the Trademarks made
      and granted hereby are more fully set forth in the Security
      Agreement.  In the event that any provision of this Trademark Security
      Agreement is deemed to conflict with the Security Agreement, the provisions
      of
      the Security Agreement shall control unless the Collateral Agent shall otherwise
      determine.

     

    SECTION
      4.                                Recordation.  Each
      Pledgor hereby authorizes and requests that the Commissioner of Patents and
      Trademarks record this Trademark Security Agreement.

     

    SECTION
      5.                                Termination.  Upon
      the payment in full of the Secured Obligations and termination of the Security
      Agreement, the Collateral Agent shall execute, acknowledge, and deliver to
      the
      Pledgors an instrument in writing in recordable form releasing the collateral
      pledge, grant, assignment, lien and security interest in the Trademarks under
      this Trademark Security Agreement.

     

    SECTION
      6.                                Counterparts.  This
      Trademark Security 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 Trademark Security Agreement by signing and delivering one or
      more
      counterparts.

     

    [signature
      page follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, each Pledgor has caused this Trademark Security Agreement
      to be
      executed and delivered by its duly authorized offer as of the date first set
      forth above.

     

    Very
      truly yours,

     

    [PLEDGORS]3

     

    
      	
               

            	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

    Accepted
      and Agreed:

     

    WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

    as
      Collateral Agent

     

     

    
      	
              By:

            	 	 

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

     

     

    

     

    

      

    

      
      
        	
                3

              	
                This
                  document needs only to be executed by the Borrower and/or any Subsidiary
                  Guarantor which owns a pledged
                  Trademark.

              

      

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

     

    to

     

    TRADEMARK
      SECURITY AGREEMENT

     

    TRADEMARK
      REGISTRATIONS AND TRADEMARK APPLICATIONS

     

    

     

     

    Trademark
      Registrations:

     

    
      	
              owner

            	
              registration

              number

            	
               

              TRADEMARK

            
	 	 	 

    

    

     

    Trademark
      Applications:

     

    

    
      	
              owner

            	
              application

              number

            	
               

              trademark

            
	 	 	 

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      9

     

    FORM
      OF
      NOTICE TO BAILEE OF SECURITY INTEREST IN INVENTORY

     

    

     

    CERTIFIED
      MAIL — RETURN RECEIPT REQUESTED

     

    [                    ],
      200[  ]

     

    TO:           [Bailee’s
      Name]

     

    [Bailee’s
      Address]

     

    
      	
               

            	
              Re:

            	
              Itron,
                Inc.

            

    

     

    Ladies
      and Gentlemen:

    In
      connection with that certain Security Agreement, dated as of April 18, 2007
      (the
“Security Agreement”), made by Itron, Inc., a Washington corporation, and
      the Subsidiary Guarantors party thereto in favor of Wells Fargo Bank, National
      Association, as collateral agent (in such capacity and together with any
      successors in such capacity, “Collateral Agent”), we have granted to
      Collateral Agent a security interest in substantially all of our personal
      property, including our inventory.

     

    This
      letter constitutes notice to you, and your signature below will constitute
      your
      acknowledgment, of Collateral Agent’s continuing first priority security
      interest in all goods with respect to which you are acting as
      bailee.  Until you are notified in writing to the contrary by
      Collateral Agent, however, you may continue to accept instructions from us
      regarding the delivery of goods stored by you.

     

    Your
      acknowledgment also constitutes a waiver and release, for Collateral Agent’s
      benefit, of any and all claims, liens, including bailee’s liens, and demands of
      every kind which you have or may later have against such goods (including any
      right to include such goods in any secured financing to which you may become
      party).

     

    In
      order
      to complete our records, kindly have a duplicate of this letter signed by an
      officer of your company and return same to us at your earliest
      convenience.

     

    
      	
              Receipt
                acknowledged, confirmed and

              approved:

            	
              Very
                truly yours,

            
	
              [BAILEE]

            	
              [APPLICABLE
                PLEDGOR]

            
	
              By:         

              Name:

              Title:

            	
              By:         

              Name:

              Title:

            

    

    cc:           Wells
      Fargo Bank, National Association

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